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Page
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ARTICLE
I
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12
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Section 1.01 Definitions
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12
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Additional Distribution Amount
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12
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Adjustment Date
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12
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Aggregate Certificate Principal
Balance
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12
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Agreement
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12
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Appraised Value
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12
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Assigned Prepayment Premiums
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13
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Assignment of Proprietary Lease
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13
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Authenticating Agent
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13
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Authorized Denomination
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13
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Balloon Loan
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13
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Bankruptcy Loss
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13
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Basic Principal Distribution Amount
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13
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Basis Risk Carry Forward Amount
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14
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Beneficial Holder
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14
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Benefit Plan Opinion
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14
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Book-Entry Certificates
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14
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Business Day
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14
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Buydown Agreement
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14
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Buydown Fund
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14
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Buydown Fund Account
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15
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Buydown Loan
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15
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Carry-Forward Subsequent Recoveries
Amount
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15
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Carryover Shortfall Amount
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15
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Certificate
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15
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Certificate Account
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15
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Certificateholder or Holder
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15
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Certificate Interest Rate
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16
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Certificate of Trust
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16
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Certificate Principal Balance
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16
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Certificate Register and Certificate
Registrar
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16
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Class
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16
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Class A Certificates
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16
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Class A Principal Distribution Amount
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17
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Class A-L Regular Interests
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17
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Class A-1 Certificates
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17
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Class A-1-L Regular Interest
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17
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Class A-2A Certificates
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17
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Class A-2A-L Regular Interest
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17
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Class A-2B Certificates
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17
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Class A-2B-L Regular Interest
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17
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Class A-3A Certificates
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17
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Class A-3A-L Regular Interest
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17
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Class A-3B Certificates
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17
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Class A-3B-L Regular Interest
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17
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Class B-1 Certificates
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17
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Class B-1 Principal Distribution
Amount
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18
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Class B-1-L Regular Interest
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18
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Class B-2 Certificates
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18
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Class B-2 Principal Distribution
Amount
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18
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Class B-2-L Regular Interest
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18
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Class C Certificates
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18
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Class C-L Regular Interest
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18
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Class IO Regular Interest
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18
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Class LT Principal Reduction Amounts
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18
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Class LT Regular Interests
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18
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Class LT1 Principal Distribution
Amount
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19
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Class LT2 Principal Distribution
Amount
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19
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Class LT3 Principal Distribution
Amount
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19
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Class LT4 Principal Distribution
Amount
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19
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Class LT-IO Notional Amount
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19
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Class M-1 Certificates
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20
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Class M-1 Principal Distribution
Amount
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20
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Class M-1-L Regular Interest
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20
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Class M-2 Certificates
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21
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Class M-2 Principal Distribution
Amount
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21
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Class M-2-L Regular Interest
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21
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Class M-3 Certificates
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21
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Class M-3 Principal Distribution
Amount
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21
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Class M-3-L Regular Interest
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21
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Class M-4 Certificates
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21
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Class M-4 Principal Distribution
Amount
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21
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Class M-4-L Regular Interest
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22
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Class Notional Amount
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22
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Class PPP Certificates
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22
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Class PPP Notional Amount
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22
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Class Principal Balance
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22
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Class R Certificates
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23
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Class R Residual Interests
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23
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Class R-1 Residual Interest
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23
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Class R-2 Residual Interest
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23
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Class R-3 Residual Interest
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23
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Clean-Up Call Option Date
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23
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Clean-Up Call Percentage
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23
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Clearing Agency
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23
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Closing Date
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23
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Code
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23
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Commission
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23
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Company
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23
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Compensating Interest
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24
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Complying Insurance Company
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24
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Cooperative
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24
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Cooperative Apartment
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24
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Cooperative Lease
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24
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Cooperative Loans
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24
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Cooperative Stock
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24
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Cooperative Stock Certificate
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24
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Corporate Trust Office
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24
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Corporation
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25
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Corresponding Class
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25
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Current Loan-to-Value Ratio
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25
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Curtailment
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25
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Curtailment Shortfall
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25
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Custodial Account for P&I
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25
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Custodial Agreement
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26
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Custodian
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26
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Cut-Off Date
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26
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Definitive Certificates
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26
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Delaware Trustee
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26
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Depositary Agreement
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26
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Destroyed Mortgage Note
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26
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Determination Date
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26
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Disqualified Organization
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26
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Distribution Date
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26
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DTC
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26
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DTC Participant
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26
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Due Date
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26
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Eligible Institution
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26
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Eligible Investments
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27
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ERISA
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28
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Event of Default
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28
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Excess Liquidation Proceeds
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28
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Excess Subsequent Recoveries
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28
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Extra Principal Distribution Amount
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28
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Fannie Mae
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29
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FDIC
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29
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FHA
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29
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Final Maturity Date
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29
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Fitch
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29
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Fixed Swap Payment
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29
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Fixed Swap Rate
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29
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Floating Swap Payment
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29
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Freddie Mac
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29
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Index
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29
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Indirect DTC Participants
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29
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Initial Custodial Agreement
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29
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Initial Custodian
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29
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Initial LIBOR Rate
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29
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Insurance Proceeds
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29
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Interest Distribution Amount
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30
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Interest Remittance Amount
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30
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Internal Swap Agreement
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30
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Investment Account
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30
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Investment Depository
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30
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Junior Subordinate Certificates
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30
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Junior Subordinate Regular Interests
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30
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Last Scheduled Distribution Date
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30
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LIBOR
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31
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LIBOR Determination Date
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31
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Liquidated Mortgage Loan
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31
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Liquidation Principal
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31
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Liquidation Proceeds
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31
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Lowest Class B Owner
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31
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Marker Rate
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31
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MERS
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31
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MERS Loan
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31
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MERS® System
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31
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MIN
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31
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MOM Loan
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32
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Monthly P&I Advance
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32
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Monthly Payment
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32
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Moody’s
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32
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Mortgage
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32
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Mortgage File
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32
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Mortgage Interest Rate
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35
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Mortgage Loan Purchase Agreement
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35
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Mortgage Loan Schedule
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35
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Mortgage Loans
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35
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Mortgage Note
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35
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Mortgage Pool
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36
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Mortgage Pool Assets
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36
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Mortgaged Property
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36
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Mortgagor
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36
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Net Monthly Excess Cashflow
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36
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Net Swap Payment
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36
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Net WAC Cap
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36
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No-Delay Accrual Period
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37
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Nonrecoverable Advance
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37
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Non-U.S. Person
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37
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Notice Addresses
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37
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One-Year LIBOR
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37
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OTS
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37
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Officer’s Certificate
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38
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Opinion of Counsel
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38
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Original Trust Agreement
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38
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Overcollateralization Amount
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38
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Overcollateralization Deficiency
Amount
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38
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Overcollateralization Excess Amount
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38
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Ownership Interest
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38
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Pass-Through Entity
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38
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Pass-Through Rate
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38
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Paying Agent
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39
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Payoff
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39
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Payoff Earnings
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39
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Payoff Interest
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39
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Payoff Period
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39
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Percentage Interest
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39
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Permitted Transferee
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40
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Person
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40
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Plan Investor
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40
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Prepaid Monthly Payment
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40
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Prepayment Premium
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41
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Primary Insurance Policy
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41
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Principal Balance
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41
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Principal Payment
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41
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Principal Prepayment
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41
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Principal Remittance Amount
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41
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Prior Period
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41
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Prospectus
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42
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Rate Ceiling
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42
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Rate Floor
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42
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Rating Agency
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42
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Ratings
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42
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Reacquired Mortgage Loan
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42
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Realized Loss
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42
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Recognition Agreement
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43
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Record Date
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43
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Recording Documents
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43
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Reference Banks
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44
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Regular Interests
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44
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Regulation AB
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44
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Relief Act Shortfall
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44
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REMIC
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44
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REMIC Provisions
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44
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REMIC I
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44
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REMIC I Assets
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44
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REMIC I Available Distribution Amount
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44
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REMIC I Distribution Amount
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45
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REMIC I Principal Distribution Amount
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46
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REMIC I Regular Interests
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46
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REMIC II
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46
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REMIC II Assets
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46
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REMIC II Available Distribution
Amount
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46
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REMIC II Distribution Amount
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46
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REMIC II Net WAC Rate
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48
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REMIC II Principal Distribution
Amount
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52
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REMIC II Regular Interests
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52
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REMIC III
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52
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REMIC III Assets
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52
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REMIC III Available Distribution
Amount
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52
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REMIC III Distribution Amount
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52
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REMIC III Regular Interests
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56
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REMIC Interest Reduction Amount
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56
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Repurchase Price
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56
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Repurchase Proceeds
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57
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Residual Certificates
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57
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Residual Distribution Amount
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57
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Responsible Officer
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57
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ROV Mortgage Loan
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57
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S&P
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57
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Secretary of State
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58
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Securities Act
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58
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Security Agreement
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58
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Seller
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58
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Senior Credit Enhancement Percentage
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58
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Senior Subordinate Certificates
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58
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Senior Subordinate Regular Interests
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58
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Sequential Trigger Event
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58
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Servicer
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58
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Servicer Business Day
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58
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Servicing Fee
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58
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Servicing Fee Rate
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59
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Servicing Officer
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59
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Six-Month LIBOR
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59
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Special Primary Insurance Policy
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59
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Special Primary Insurance Premium
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59
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Statutory Trust Statute
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59
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Stepdown Date
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59
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Streamlined Mortgage Loan
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59
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Subordinate Certificates
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59
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Subordinate Regular Interests
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59
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Subsequent Recoveries
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59
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Substitute Mortgage Loan
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60
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Substitution Price
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60
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Supplemental Interest Trust
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60
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Supplemental Interest Trust Account
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60
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Supplemental Interest Trust Distribution
Amount
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60
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Supplemental Interest Trust Trustee
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62
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Swap Agreement
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62
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Swap Counterparty
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62
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Swap Counterparty Trigger Event
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62
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Swap LIBOR Rate
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62
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Swap Notional Amount
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62
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Swap Termination Payment
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62
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Targeted Overcollateralization Amount
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62
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Tax Matters Person
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62
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Termination Date
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63
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Termination Payment
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63
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Transfer
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63
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Transferee
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63
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Transferee Affidavit and Agreement
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63
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Trigger Event
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63
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Trust
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64
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Trustee
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64
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Uncollected Interest
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64
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Uncompensated Interest Shortfall
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64
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Underwriter
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65
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Uninsured Cause
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65
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U.S. Person
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65
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VA
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65
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Weighted Average Pass-Through Rate
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65
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Withdrawal Date
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65
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ARTICLE II Creation of the Trust;
Conveyance of the Mortgage Pool Assets, REMIC I Regular Interests,
REMIC II Regular Interests and REMIC III Regular Interests; REMIC
Election and Designations;
Original Issuance of Certificates
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65
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Section 2.01 Creation of the
Trust
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65
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Section 2.02 Restrictions on Activities of
the Trust
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66
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Section 2.03 Separateness
Requirements
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67
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Section 2.04 Conveyance of Mortgage Pool
Assets; Security Interest
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69
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Section 2.05 Delivery of Mortgage
Files
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70
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Section 2.06 REMIC Election for REMIC
I
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71
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Section 2.07 Acceptance by
Trustee
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72
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Section 2.08 Representation and Warranty
of the Company Concerning the Mortgage Loans
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73
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Section 2.09 Representations and
Warranties of the Seller Concerning the Mortgage Loans
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75
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Section 2.10 Additional Provisions
Relating to Repurchases of and Substitutions for Mortgage Loans by
the Company or the Seller
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76
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Section 2.11 Acknowledgment of Transfer of
Mortgage Pool Assets
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77
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Section 2.12 Conveyance of REMIC II
Assets; Security Interest
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77
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Section 2.13 REMIC Election for REMIC
II
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78
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Section 2.14 Acknowledgement of Transfer
of REMIC II Assets
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79
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Section 2.15 Conveyance of REMIC III
Assets; Security Interest
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79
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Section 2.16 REMIC Election for REMIC
III
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80
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Section 2.17 Acknowledgement of Transfer
of REMIC III Assets
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81
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Section 2.18 Conveyance of REMIC III
Regular Interests; Security Interest
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82
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Section 2.19 Acknowledgement of Transfer
of REMIC III Regular Interests
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83
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Section 2.20 Legal Title
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83
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Section 2.21 Compliance with ERISA
Requirements
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83
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Section 2.22 Additional Representation
Concerning the Mortgage Loans
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83
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Section 2.23 Distributions to Certificates
Outside of the REMICs
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83
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ARTICLE III Administration and Servicing
of Mortgage Loans
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83
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Section 3.01 The Servicer
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83
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Section 3.02 The Custodial Accounts for
P&I and Buydown Fund Accounts
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86
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Section 3.03 The Investment Account;
Eligible Investments
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87
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Section 3.04 The Certificate
Account
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87
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Section 3.05 Permitted Withdrawals from
the Certificate Account, the Investment Account, the Custodial
Accounts for P&I and the Buydown Fund Accounts
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88
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Section 3.06 Maintenance of Primary
Insurance Policies; Collections Thereunder
|
90
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Section 3.07 Maintenance of Hazard
Insurance
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90
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Section 3.08 Enforcement of Due-on-Sale
Clauses; Assumption Agreements
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91
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Section 3.09 Realization Upon Defaulted
Mortgage Loans
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91
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Section 3.10 Trustee to Cooperate; Release
of Mortgage Files
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94
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Section 3.11 Compensation to the
Servicer
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94
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Section 3.12 [Reserved.]
|
94
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Section 3.13 Reports on Assessment of
Compliance with Servicing Criteria and Servicing Compliance
Statements
|
95
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Section 3.14 Access to Certain
Documentation and Information Regarding the Mortgage
Loans
|
96
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Section 3.15 [Reserved.]
|
96
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Section 3.16 [Reserved.]
|
96
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Section 3.17 [Reserved.]
|
96
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Section 3.18
[Reserved]
|
96
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|
Section 3.19 Determination of LIBOR by
Servicer
|
96
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Section 3.20 Assigned Prepayment
Premiums
|
98
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|
ARTICLE IV Payments to Certificateholders;
Payment of Expenses
|
99
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Section 4.01 Distributions to Holders of
REMIC I Regular Interests and Class R-1 Residual
Interest
|
99
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|
Section 4.02 Monthly P&I Advances;
Distribution Reports to the Trustee
|
100
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|
Section 4.03 Nonrecoverable
Advances
|
102
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|
Section 4.04 Distributions to Holders of
REMIC II Regular Interests and Class R-2 Residual
Interest
|
102
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|
Section 4.05 Distributions to
Certificateholders; Payment of Special Primary Insurance
Premiums
|
102
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|
Section 4.06 Statements to
Certificateholders
|
104
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|
Section 4.07 Supplemental Interest
Trust
|
104
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|
ARTICLE V The Certificates
|
109
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Section 5.01 The Certificates
|
109
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Section 5.02 Certificates Issuable in
Classes; Distributions of Principal and Interest; Authorized
Denominations
|
117
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|
Section 5.03 Registration of Transfer and
Exchange of Certificates
|
117
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|
Section 5.04 Mutilated, Destroyed, Lost or
Stolen Certificates
|
118
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|
Section 5.05 Persons Deemed
Owners
|
118
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|
Section 5.06 [Reserved.]
|
118
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|
Section 5.07 Book-Entry for Book-Entry
Certificates
|
118
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|
Section 5.08 Notices to Clearing
Agency
|
119
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|
Section 5.09 Definitive
Certificates
|
119
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|
Section 5.10 Office for Transfer of
Certificates
|
120
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|
Section 5.11 Nature of
Certificates
|
120
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|
ARTICLE VI The Company and the
Servicer
|
120
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|
Section 6.01 Liability of the Company and
the Servicer
|
120
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|
Section 6.02 Merger or Consolidation of
the Company or the Servicer
|
120
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|
Section 6.03 Limitation on Liability of
the Company, the Servicer and Others
|
121
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|
Section 6.04 Neither the Company nor the
Servicer May Resign
|
121
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|
Section 6.05 Trustee
Access
|
122
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|
ARTICLE VII Default
|
122
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|
Section 7.01 Events of Default
|
122
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|
Section 7.02 Trustee to Act; Appointment
of Successor
|
124
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|
Section 7.03 Notification to
Certificateholders
|
125
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|
ARTICLE VIII Concerning the
Trustees
|
126
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|
Section 8.01 Duties of Trustees
|
126
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|
Section 8.02 Certain Matters Affecting the
Trustees
|
127
|
|
Section 8.03 Trustees Not Liable for
Certificates or Mortgage Loans
|
128
|
|
Section 8.04 Trustees May Own
Certificates
|
129
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|
Section 8.05 The Servicer to Pay
Trustees’ Fees and Expenses
|
129
|
|
Section 8.06 Eligibility Requirements for
Trustees
|
129
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|
Section 8.07 Resignation and Removal of
Trustees
|
129
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|
Section 8.08 Successor Trustee
|
130
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|
Section 8.09 Merger or Consolidation of
Trustee
|
131
|
|
Section 8.10 Appointment of Co-Trustee or
Separate Trustee
|
131
|
|
Section 8.11 Authenticating
Agents
|
132
|
|
Section 8.12 Paying Agents
|
133
|
|
Section 8.13 Duties of Delaware
Trustee
|
134
|
|
Section 8.14 Amendment to Certificate of
Trust
|
134
|
|
Section 8.15 [Reserved.]
|
134
|
|
Section 8.16 Trustees Act on Behalf of
Trust
|
134
|
|
Section 8.17 Limitation of
Liability
|
134
|
|
Section 8.18 Trustee Report on Assessment
of Compliance with Servicing Criteria
|
134
|
|
ARTICLE IX Termination
|
135
|
|
Section 9.01 Termination Upon Purchase by
the Servicer or Liquidation of All Mortgage Loans
|
135
|
|
Section 9.02 Additional Termination
Requirements
|
138
|
|
Section 9.03 Trust Irrevocable
|
138
|
|
ARTICLE X Miscellaneous
Provisions
|
138
|
|
Section 10.01 Amendment
|
138
|
|
Section 10.02 Recordation of
Agreement
|
140
|
|
Section 10.03 Limitation on Rights of
Certificateholders
|
140
|
|
Section 10.04 Access to List of
Certificateholders
|
141
|
|
Section 10.05 Governing Law
|
141
|
|
Section 10.06 Notices
|
142
|
|
Section 10.07 Compliance With Regulation
AB
|
142
|
|
Section 10.08 Severability of
Provisions
|
142
|
|
Section 10.09 Counterpart
Signatures
|
142
|
|
Section 10.10 Benefits of
Agreement
|
142
|
|
Section 10.11 Notices and Copies to Rating
Agencies
|
143
|
|
Section 10.12 Covenant Not to Place Trust
Into Bankruptcy
|
143
|
|
Section 10.13 Covenant Not to Place
Company Into Bankruptcy
|
144
|
|
Section 10.14 Third Party
Beneficiary
|
144
|
