EXHIBIT 4.1
ACE SECURITIES CORP.
Depositor
OCWEN LOAN SERVICING, LLC
Servicer
WELLS FARGO BANK, NATIONAL
ASSOCIATION
Master Servicer and Securities
Administrator
HSBC BANK USA, NATIONAL ASSOCIATION
Trustee
POOLING AND SERVICING AGREEMENT
Dated as of October 1,
2005
ACE Securities Corp. Home Equity Loan Trust,
Series 2005-ASAP1
Asset Backed Pass-Through
Certificates
TABLE OF CONTENTS
ARTICLE I
DEFINITIONS
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SECTION 1.01.
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Defined Terms
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SECTION 1.02.
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Allocation of Certain Interest
Shortfalls
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ARTICLE II
CONVEYANCE OF MORTGAGE LOANS;
ORIGINAL ISSUANCE OF CERTIFICATES
|
SECTION 2.01.
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Conveyance of the Mortgage
Loans
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SECTION 2.02.
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Acceptance of REMIC I by
Trustee
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SECTION 2.03.
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Repurchase or Substitution of
Mortgage Loans
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SECTION 2.04.
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Representations and Warranties of
the Master Servicer
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SECTION 2.05.
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Representations, Warranties and
Covenants of the Servicer
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SECTION 2.06.
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Issuance of the REMIC I Regular
Interests and the Class R-I Interest
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SECTION 2.07.
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Conveyance of the REMIC I Regular
Interests; Acceptance of
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REMIC II and REMIC III by the
Trustee
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SECTION 2.08.
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Issuance of Residual
Certificates
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SECTION 2.09.
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Establishment of the
Trust
|
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ARTICLE III
ADMINISTRATION AND SERVICING OF THE
MORTGAGE LOANS; ACCOUNTS
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SECTION 3.01.
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The Servicer to Act as
Servicer
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SECTION 3.02.
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Sub-Servicing Agreements Between the
Servicer and Sub-Servicers
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SECTION 3.03.
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Successor Sub-Servicers
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SECTION 3.04.
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No Contractual Relationship Between
Sub-Servicer, Trustee or the
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Certificateholders
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SECTION 3.05.
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Assumption or Termination of
Sub-Servicing Agreement by
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Successor Servicer
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SECTION 3.06.
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Collection of Certain Mortgage Loan
Payments
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SECTION 3.07.
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Collection of Taxes, Assessments and
Similar Items; Servicing
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Accounts
|
SECTION 3.08.
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Collection Account and Distribution
Account
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SECTION 3.09.
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Withdrawals from the Collection
Account and Distribution Account
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SECTION 3.10.
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Investment of Funds in the
Investment Accounts
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SECTION 3.11.
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Maintenance of Hazard Insurance,
Errors and Omissions and Fidelity
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Coverage and Primary Mortgage
Insurance
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SECTION 3.12.
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Enforcement of Due-on-Sale Clauses;
Assumption Agreements
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SECTION 3.13.
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Realization Upon Defaulted Mortgage
Loans
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SECTION 3.14.
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Trustee to Cooperate; Release of
Mortgage Files
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SECTION 3.15.
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Servicing Compensation
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SECTION 3.16.
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Collection Account
Statements
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SECTION 3.17.
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Statement as to
Compliance
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SECTION 3.18.
|
Independent Public
Accountants’ Servicing Report
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|
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SECTION 3.19.
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Annual Certification
|
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SECTION 3.20.
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Access to Certain
Documentation
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SECTION 3.21.
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Title, Management and Disposition of
REO Property
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SECTION 3.22.
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Obligations of the Servicer in
Respect of Prepayment Interest Shortfalls; Relief Act Interest
Shortfalls
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SECTION 3.23.
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Obligations of the Servicer in
Respect of Mortgage Rates and
|
Monthly Payments
|
SECTION 3.24.
|
Reserve Fund
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SECTION 3.25.
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Advance Facility
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SECTION 3.26.
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The Servicer
Indemnification
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ARTICLE IV
ADMINISTRATION AND MASTER SERVICING
OF THE MORTGAGE LOANS BY THE MASTER SERVICER
|
SECTION 4.01.
|
Master Servicer
|
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SECTION 4.02.
|
REMIC-Related Covenants
|
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SECTION 4.03.
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Monitoring of Servicer
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SECTION 4.04.
|
Fidelity Bond
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SECTION 4.05.
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Power to Act; Procedures
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SECTION 4.06.
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Due-on-Sale Clauses; Assumption
Agreements
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SECTION 4.07.
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Documents, Records and Funds in
Possession of Master Servicer To
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Be Held for Trustee
|
SECTION 4.08.
|
Standard Hazard Insurance and Flood
Insurance Policies
|
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SECTION 4.09.
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Presentment of Claims and Collection
of Proceeds
|
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SECTION 4.10.
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Maintenance of Primary Mortgage
Insurance Policies
|
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SECTION 4.11.
|
Trustee to Retain Possession of
Certain Insurance Policies and
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Documents
|
SECTION 4.12.
|
Realization Upon Defaulted Mortgage
Loans
|
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SECTION 4.13.
|
Compensation for the Master
Servicer
|
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SECTION 4.14.
|
REO Property
|
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SECTION 4.15.
|
Annual Officer’s Certificate
as to Compliance
|
|
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SECTION 4.16.
|
Annual Independent
Accountant’s Servicing Report
|
|
|
SECTION 4.17.
|
[Reserved
|
|
|
SECTION 4.18.
|
Obligation of the Master Servicer in
Respect of Prepayment Interest
|
|
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Shortfalls
|
SECTION 4.19.
|
Prepayment Penalty
Verification
|
ARTICLE V
PAYMENTS TO
CERTIFICATEHOLDERS
|
SECTION 5.01.
|
Distributions
|
|
|
SECTION 5.02.
|
Statements to
Certificateholders
|
|
|
SECTION 5.03.
|
Servicer Reports; P&I
Advances
|
|
|
SECTION 5.04.
|
Allocation of Realized
Losses
|
|
|
SECTION 5.05.
|
Compliance with Withholding
Requirements
|
|
|
SECTION 5.06.
|
Reports Filed with Securities and
Exchange Commission
|
|
|
SECTION 5.07.
|
Supplemental Interest
Trust
|
|
|
SECTION 5.08.
|
Tax Treatment of Swap Payments and
Swap Termination Payments
|
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ARTICLE VI
THE CERTIFICATES
|
SECTION 6.01.
|
The Certificates
|
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|
SECTION 6.02.
|
Registration of Transfer and
Exchange of Certificates
|
|
SECTION 6.03.
|
Mutilated, Destroyed, Lost or Stolen
Certificates
|
|
|
SECTION 6.04.
|
Persons Deemed Owners
|
|
|
SECTION 6.05.
|
Certain Available
Information
|
|
|
|
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|
ARTICLE VII
THE DEPOSITOR, THE SERVICER AND THE
MASTER SERVICER
|
SECTION 7.01.
|
Liability of the Depositor, the
Servicer and the Master Servicer
|
|
|
SECTION 7.02.
|
Merger or Consolidation of the
Depositor, the Servicer or the Master
|
Servicer
|
SECTION 7.03.
|
Limitation on Liability of the
Depositor, the Servicer, the Master
|
Servicer and Others
|
SECTION 7.04.
|
Limitation on Resignation of the
Servicer
|
|
|
SECTION 7.05.
|
Limitation on Resignation of the
Master Servicer
|
|
|
SECTION 7.06.
|
Assignment of Master
Servicing
|
|
|
SECTION 7.07.
|
Rights of the Depositor in Respect
of the Servicer and the Master
|
|
|
|
|
|
|
Servicer
|
SECTION 7.08.
|
Duties of the Credit Risk
Manager
|
|
|
SECTION 7.09.
|
Limitation Upon Liability of the
Credit Risk Manager
|
|
SECTION 7.10.
|
Removal of the Credit Risk
Manager
|
|
|
|
|
|
|
ARTICLE VIII
DEFAULT
|
SECTION 8.01.
|
Servicer Events of
Default
|
|
|
SECTION 8.02.
|
Master Servicer to Act; Appointment
of Successor
|
|
SECTION 8.03.
|
Notification to
Certificateholders
|
|
SECTION 8.04.
|
Waiver of Events of
Default
|
|
ARTICLE IX
CONCERNING THE TRUSTEE AND THE
SECURITIES ADMINISTRATOR
|
SECTION 9.01.
|
Duties of Trustee and Securities
Administrator
|
|
|
SECTION 9.02.
|
Certain Matters Affecting Trustee
and Securities Administrator
|
|
|
SECTION 9.03.
|
Trustee and Securities Administrator
not Liable for Certificates or
|
|
|
|
|
|
Mortgage Loans
|
SECTION 9.04.
|
Trustee and Securities Administrator
May Own Certificates
|
|
|
SECTION 9.05.
|
Fees and Expenses of Trustee and
Securities Administrator
|
|
|
SECTION 9.06.
|
Eligibility Requirements for Trustee
and Securities Administrator
|
|
|
SECTION 9.07.
|
Resignation and Removal of Trustee
and Securities Administrator
|
|
SECTION 9.08.
|
Successor Trustee or Securities
Administrator
|
|
|
SECTION 9.09.
|
Merger or Consolidation of Trustee
or Securities Administrator
|
|
|
SECTION 9.10.
|
Appointment of Co-Trustee or
Separate Trustee
|
|
|
SECTION 9.11.
|
Appointment of Office or
Agency
|
|
|
SECTION 9.12.
|
Representations and
Warranties
|
|
|
|
|
|
|
|
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|
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|
|
ARTICLE X
TERMINATION
|
SECTION 10.01.
|
Termination Upon Repurchase or
Liquidation of All Mortgage Loans
|
|
SECTION 10.02.
|
Additional Termination
Requirements
|
|
ARTICLE XI
REMIC PROVISIONS
|
SECTION 11.01.
|
REMIC Administration
|
|
|
SECTION 11.02.
|
Prohibited Transactions and
Activities
|
|
SECTION 11.03.
|
Indemnification
|
|
|
|
|
|
|
ARTICLE XII
MISCELLANEOUS PROVISIONS
|
SECTION 12.01.
|
Amendment
|
|
|
SECTION 12.02.
|
Recordation of Agreement;
Counterparts
|
|
|
SECTION 12.03.
|
Limitation on Rights of
Certificateholders
|
|
SECTION 12.04.
|
Governing Law
|
|
|
SECTION 12.05.
|
Notices
|
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|
SECTION 12.06.
|
Severability of
Provisions
|
|
|
SECTION 12.07.
|
Notice to Rating Agencies
|
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|
SECTION 12.08.
|
Article and Section
References
|
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SECTION 12.09.
|
Grant of Security
Interest
|
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|
SECTION 12.10.
|
Survival of
Indemnification
|
Exhibits
|
Exhibit A-1
|
Form of Class A
Certificate
|
|
Exhibit A-2
|
Form of Class M
Certificate
|
|
Exhibit A-3
|
Form of Class CE
Certificate
|
|
Exhibit A-4
|
Form of Class P
Certificate
|
|
Exhibit A-5
|
Form of Class R
Certificate
|
|
Exhibit B-1
|
Form of Transferor Representation
Letter and Form of Transferee Representation Letter in Connection
with Transfer of the Class P Certificates, Class CE Certificates
and Residual Certificates Pursuant to Rule 144A Under the
Securities Act
|
|
Exhibit B-2
|
Form of Transferor Representation
Letter and Form of Transferee Representation Letter in Connection
with Transfer of the Class P Certificates, Class CE Certificates
and Residual Certificates Pursuant to Rule 501(a) Under the
Securities Act
|
|
Exhibit B-3
|
Form of Transfer Affidavit and
Agreement and Form of Transferor Affidavit in Connection with
Transfer of Residual Certificates
|
|
Exhibit C
|
Form of Servicer
Certification
|
|
Exhibit D
|
Form of Power of Attorney
|
|
Schedule 1
|
Mortgage Loan Schedule
|
|
Schedule 2
|
Prepayment Charge
Schedule
|
|
Schedule 3
|
Reserved
|
|
Schedule 4
|
Standard File Layout - Delinquency
Reporting
|
|
Schedule 5
|
Standard File Layout -
Scheduled/Scheduled
|
|
Schedule 6
|
Data Requirements of Servicing
Advances Incurred Prior to Cut-off Date
|
This Pooling and Servicing
Agreement, is dated and effective as of October 1, 2005, among
ACE SECURITIES CORP., as Depositor, OCWEN LOAN SERVICING, LLC, as
Servicer, WELLS FARGO BANK, NATIONAL ASSOCIATION, as Master
Servicer and Securities Administrator and HSBC BANK USA, 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 of the Trust Fund 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 subject to this
Agreement (other than the Reserve Fund and, for the avoidance of
doubt, the Supplemental Interest Trust and the Swap 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-1-A
|
|
Variable (2)
|
|
$ 2,455,129.93
|
|
August 25, 2035
|
|
|
|
I-1-B
|
|
Variable (2)
|
|
$ 2,455,129.93
|
|
August 25, 2035
|
|
|
|
I-2-A
|
|
Variable (2)
|
|
$ 2,797,534.81
|
|
August 25, 2035
|
|
|
|
I-2-B
|
|
Variable (2)
|
|
$ 2,797,534.81
|
|
August 25, 2035
|
|
|
|
I-3-A
|
|
Variable (2)
|
|
$ 3,129,810.87
|
|
August 25, 2035
|
|
|
|
I-3-B
|
|
Variable (2)
|
|
$ 3,129,810.87
|
|
August 25, 2035
|
|
|
|
I-4-A
|
|
Variable (2)
|
|
$ 3,448,840.61
|
|
August 25, 2035
|
|
|
|
I-4-B
|
|
Variable (2)
|
|
$ 3,448,840.61
|
|
August 25, 2035
|
|
|
|
I-5-A
|
|
Variable (2)
|
|
$ 3,751,776.40
|
|
August 25, 2035
|
|
|
|
I-5-B
|
|
Variable (2)
|
|
$ 3,751,776.40
|
|
August 25, 2035
|
|
|
|
I-6-A
|
|
Variable (2)
|
|
$ 4,035,979.08
|
|
August 25, 2035
|
|
|
|
I-6-B
|
|
Variable (2)
|
|
$ 4,035,979.08
|
|
August 25, 2035
|
|
|
|
I-7-A
|
|
Variable (2)
|
|
$ 4,290,792.31
|
|
August 25, 2035
|
|
|
|
I-7-B
|
|
Variable (2)
|
|
$ 4,290,792.31
|
|
August 25, 2035
|
|
|
|
I-8-A
|
|
Variable (2)
|
|
$ 4,369,030.12
|
|
August 25, 2035
|
|
|
|
I-8-B
|
|
Variable (2)
|
|
$ 4,369,030.12
|
|
August 25, 2035
|
|
|
|
I-9-A
|
|
Variable (2)
|
|
$ 4,191,358.53
|
|
August 25, 2035
|
|
|
|
I-9-B
|
|
Variable (2)
|
|
$ 4,191,358.53
|
|
August 25, 2035
|
|
|
|
I-10-A
|
|
Variable (2)
|
|
$ 4,015,974.19
|
|
August 25, 2035
|
|
|
|
I-10-B
|
|
Variable (2)
|
|
$ 4,015,974.19
|
|
August 25, 2035
|
|
|
|
I-11-A
|
|
Variable (2)
|
|
$ 3,847,942.21
|
|
August 25, 2035
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
I-11-B
|
|
Variable (2)
|
|
$ 3,847,942.21
|
|
August 25, 2035
|
|
|
I-12-A
|
|
Variable (2)
|
|
$ 3,686,953.83
|
|
August 25, 2035
|
|
|
I-12-B
|
|
Variable (2)
|
|
$ 3,686,953.83
|
|
August 25, 2035
|
|
|
I-13-A
|
|
Variable (2)
|
|
$ 3,532,713.30
|
|
August 25, 2035
|
|
|
I-13-B
|
|
Variable (2)
|
|
$ 3,532,713.30
|
|
August 25, 2035
|
|
|
I-14-A
|
|
Variable (2)
|
|
$ 3,384,937.32
|
|
August 25, 2035
|
|
|
I-14-B
|
|
Variable (2)
|
|
$ 3,384,937.32
|
|
August 25, 2035
|
|
|
I-15-A
|
|
Variable (2)
|
|
$ 3,243,354.49
|
|
August 25, 2035
|
|
|
I-15-B
|
|
Variable (2)
|
|
$ 3,243,354.49
|
|
August 25, 2035
|
|
|
I-16-A
|
|
Variable (2)
|
|
$ 3,112,091.55
|
|
August 25, 2035
|
|
|
I-16-B
|
|
Variable (2)
|
|
$ 3,112,091.55
|
|
August 25, 2035
|
|
|
I-17-A
|
|
Variable (2)
|
|
$ 2,981,174.32
|
|
August 25, 2035
|
|
|
I-17-B
|
|
Variable (2)
|
|
$ 2,981,174.32
|
|
August 25, 2035
|
|
|
I-18-A
|
|
Variable (2)
|
|
$ 2,972,495.35
|
|
August 25, 2035
|
|
|
I-18-B
|
|
Variable (2)
|
|
$ 2,972,495.35
|
|
August 25, 2035
|
|
|
I-19-A
|
|
Variable (2)
|
|
$ 5,344,303.18
|
|
August 25, 2035
|
|
|
I-19-B
|
|
Variable (2)
|
|
$ 5,344,303.18
|
|
August 25, 2035
|
|
|
I-20-A
|
|
Variable (2)
|
|
$ 9,308,799.41
|
|
August 25, 2035
|
|
|
I-20-B
|
|
Variable (2)
|
|
$ 9,308,799.41
|
|
August 25, 2035
|
|
|
I-21-A
|
|
Variable (2)
|
|
$ 7,821,679.26
|
|
August 25, 2035
|
|
|
I-21-B
|
|
Variable (2)
|
|
$ 7,821,679.26
|
|
August 25, 2035
|
|
|
I-22-A
|
|
Variable (2)
|
|
$ 6,440,407.75
|
|
August 25, 2035
|
|
|
I-22-B
|
|
Variable (2)
|
|
$ 6,440,407.75
|
|
August 25, 2035
|
|
|
I-23-A
|
|
Variable (2)
|
|
$ 4,242,096.47
|
|
August 25, 2035
|
|
|
I-23-B
|
|
Variable (2)
|
|
$ 4,242,096.47
|
|
August 25, 2035
|
|
|
I-24-A
|
|
Variable (2)
|
|
$ 3,215,763.74
|
|
August 25, 2035
|
|
|
I-24-B
|
|
Variable (2)
|
|
$ 3,215,763.74
|
|
August 25, 2035
|
|
|
I-25-A
|
|
Variable (2)
|
|
$ 1,335,878.68
|
|
August 25, 2035
|
|
|
I-25-B
|
|
Variable (2)
|
|
$ 1,335,878.68
|
|
August 25, 2035
|
|
|
I-26-A
|
|
Variable (2)
|
|
$ 1,273,606.08
|
|
August 25, 2035
|
|
|
I-26-B
|
|
Variable (2)
|
|
$ 1,273,606.08
|
|
August 25, 2035
|
|
|
I-27-A
|
|
Variable (2)
|
|
$ 1,214,267.46
|
|
August 25, 2035
|
|
|
I-27-B
|
|
Variable (2)
|
|
$ 1,214,267.46
|
|
August 25, 2035
|
|
|
I-28-A
|
|
Variable (2)
|
|
$ 1,157,722.57
|
|
August 25, 2035
|
|
|
I-28-B
|
|
Variable (2)
|
|
$ 1,157,722.57
|
|
August 25, 2035
|
|
|
I-29-A
|
|
Variable (2)
|
|
$ 1,103,838.79
|
|
August 25, 2035
|
|
|
I-29-B
|
|
Variable (2)
|
|
$ 1,103,838.79
|
|
August 25, 2035
|
|
|
I-30-A
|
|
Variable (2)
|
|
$ 1,052,489.83
|
|
August 25, 2035
|
|
|
I-30-B
|
|
Variable (2)
|
|
$ 1,052,489.83
|
|
August 25, 2035
|
|
|
I-31-A
|
|
Variable (2)
|
|
$ 1,003,553.43
|
|
August 25, 2035
|
|
|
I-31-B
|
|
Variable (2)
|
|
$ 1,003,553.43
|
|
August 25, 2035
|
|
|
I-32-A
|
|
Variable (2)
|
|
$ 956,696.58
|
|
August 25, 2035
|
|
|
I-32-B
|
|
Variable (2)
|
|
$ 956,696.58
|
|
August 25, 2035
|
|
|
I-33-A
|
|
Variable (2)
|
|
$ 912,217.10
|
|
August 25, 2035
|
|
|
I-33-B
|
|
Variable (2)
|
|
$ 912,217.10
|
|
August 25, 2035
|
|
|
I-34-A
|
|
Variable (2)
|
|
$ 869,881.42
|
|
August 25, 2035
|
|
|
I-34-B
|
|
Variable (2)
|
|
$ 869,881.42
|
|
August 25, 2035
|
|
|
I-35-A
|
|
Variable (2)
|
|
$ 829,537.44
|
|
August 25, 2035
|
|
|
I-35-B
|
|
Variable (2)
|
|
$ 829,537.44
|
|
August 25, 2035
|
|
|
I-36-A
|
|
Variable (2)
|
|
$ 791,085.81
|
|
August 25, 2035
|
|
|
I-36-B
|
|
Variable (2)
|
|
$ 791,085.81
|
|
August 25, 2035
|
|
|
I-37-A
|
|
Variable (2)
|
|
$ 754,436.61
|
|
August 25, 2035
|
|
|
I-37-B
|
|
Variable (2)
|
|
$ 754,436.61
|
|
August 25, 2035
|
|
|
I-38-A
|
|
Variable (2)
|
|
$ 719,496.34
|
|
August 25, 2035
|
|
|
I-38-B
|
|
Variable (2)
|
|
$ 719,496.34
|
|
August 25, 2035
|
|
|
I-39-A
|
|
Variable (2)
|
|
$ 686,202.03
|
|
August 25, 2035
|
|
|
I-39-B
|
|
Variable (2)
|
|
$ 686,202.03
|
|
August 25, 2035
|
|
|
I-40-A
|
|
Variable (2)
|
|
$ 654,466.54
|
|
August 25, 2035
|
|
|
I-40-B
|
|
Variable (2)
|
|
$ 654,466.54
|
|
August 25, 2035
|
|
|
I-41-A
|
|
Variable (2)
|
|
$ 624,216.17
|
|
August 25, 2035
|
|
|
I-41-B
|
|
Variable (2)
|
|
$ 624,216.17
|
|
August 25, 2035
|
|
|
I-42-A
|
|
Variable (2)
|
|
$ 595,380.77
|
|
August 25, 2035
|
|
|
I-42-B
|
|
Variable (2)
|
|
$ 595,380.77
|
|
August 25, 2035
|
|
|
I-43-A
|
|
Variable (2)
|
|
$ 12,485,945.71
|
|
August 25, 2035
|
|
|
I-43-B
|
|
Variable (2)
|
|
$ 12,485,945.71
|
|
August 25, 2035
|
|
|
II-1-A
|
|
Variable (2)
|
|
$ 2,533,618.43
|
|
August 25, 2035
|
|
|
II-1-B
|
|
Variable (2)
|
|
$ 2,533,618.43
|
|
August 25, 2035
|
|
|
II-2-A
|
|
Variable (2)
|
|
$ 2,886,969.71
|
|
August 25, 2035
|
|
|
II-2-B
|
|
Variable (2)
|
|
$ 2,886,969.71
|
|
August 25, 2035
|
|
|
II-3-A
|
|
Variable (2)
|
|
$ 3,229,868.38
|
|
August 25, 2035
|
|
|
II-3-B
|
|
Variable (2)
|
|
$ 3,229,868.38
|
|
August 25, 2035
|
|
|
II-4-A
|
|
Variable (2)
|
|
$ 3,559,097.24
|
|
August 25, 2035
|
|
|
II-4-B
|
|
Variable (2)
|
|
$ 3,559,097.24
|
|
August 25, 2035
|
|
|
II-5-A
|
|
Variable (2)
|
|
$ 3,871,717.63
|
|
August 25, 2035
|
|
|
II-5-B
|
|
Variable (2)
|
|
$ 3,871,717.63
|
|
August 25, 2035
|
|
|
II-6-A
|
|
Variable (2)
|
|
$ 4,165,006.03
|
|
August 25, 2035
|
|
|
II-6-B
|
|
Variable (2)
|
|
$ 4,165,006.03
|
|
August 25, 2035
|
|
|
II-7-A
|
|
Variable (2)
|
|
$ 4,427,965.44
|
|
August 25, 2035
|
|
|
II-7-B
|
|
Variable (2)
|
|
$ 4,427,965.44
|
|
August 25, 2035
|
|
|
II-8-A
|
|
Variable (2)
|
|
$ 4,508,704.45
|
|
August 25, 2035
|
|
|
II-8-B
|
|
Variable (2)
|
|
$ 4,508,704.45
|
|
August 25, 2035
|
|
|
II-9-A
|
|
Variable (2)
|
|
$ 4,325,352.84
|
|
August 25, 2035
|
|
|
II-9-B
|
|
Variable (2)
|
|
$ 4,325,352.84
|
|
August 25, 2035
|
|
|
II-10-A
|
|
Variable (2)
|
|
$ 4,144,361.62
|
|
August 25, 2035
|
|
|
II-10-B
|
|
Variable (2)
|
|
$ 4,144,361.62
|
|
August 25, 2035
|
|
|
II-11-A
|
|
Variable (2)
|
|
$ 3,970,957.79
|
|
August 25, 2035
|
|
|
II-11-B
|
|
Variable (2)
|
|
$ 3,970,957.79
|
|
August 25, 2035
|
|
|
II-12-A
|
|
Variable (2)
|
|
$ 3,804,822.73
|
|
August 25, 2035
|
|
|
II-12-B
|
|
Variable (2)
|
|
$ 3,804,822.73
|
|
August 25, 2035
|
|
|
II-13-A
|
|
Variable (2)
|
|
$ 3,645,651.26
|
|
August 25, 2035
|
|
|
II-13-B
|
|
Variable (2)
|
|
$ 3,645,651.26
|
|
August 25, 2035
|
|
|
II-14-A
|
|
Variable (2)
|
|
$ 3,493,151.01
|
|
August 25, 2035
|
|
|
II-14-B
|
|
Variable (2)
|
|
$ 3,493,151.01
|
|
August 25, 2035
|
|
|
II-15-A
|
|
Variable (2)
|
|
$ 3,347,041.89
|
|
August 25, 2035
|
|
|
II-15-B
|
|
Variable (2)
|
|
$ 3,347,041.89
|
|
August 25, 2035
|
|
|
II-16-A
|
|
Variable (2)
|
|
$ 3,211,582.58
|
|
August 25, 2035
|
|
|
II-16-B
|
|
Variable (2)
|
|
$ 3,211,582.58
|
|
August 25, 2035
|
|
|
II-17-A
|
|
Variable (2)
|
|
$ 3,076,480.03
|
|
August 25, 2035
|
|
|
II-17-B
|
|
Variable (2)
|
|
$ 3,076,480.03
|
|
August 25, 2035
|
|
|
II-18-A
|
|
Variable (2)
|
|
$ 3,067,523.60
|
|
August 25, 2035
|
|
|
II-18-B
|
|
Variable (2)
|
|
$ 3,067,523.60
|
|
August 25, 2035
|
|
|
II-19-A
|
|
Variable (2)
|
|
$ 5,515,156.20
|
|
August 25, 2035
|
|
|
II-19-B
|
|
Variable (2)
|
|
$ 5,515,156.20
|
|
August 25, 2035
|
|
|
II-20-A
|
|
Variable (2)
|
|
$ 9,606,394.14
|
|
August 25, 2035
|
|
|
II-20-B
|
|
Variable (2)
|
|
$ 9,606,394.14
|
|
August 25, 2035
|
|
|
II-21-A
|
|
Variable (2)
|
|
$ 8,071,731.97
|
|
August 25, 2035
|
|
|
II-21-B
|
|
Variable (2)
|
|
$ 8,071,731.97
|
|
August 25, 2035
|
|
|
II-22-A
|
|
Variable (2)
|
|
$ 6,646,302.33
|
|
August 25, 2035
|
|
|
II-22-B
|
|
Variable (2)
|
|
$ 6,646,302.33
|
|
August 25, 2035
|
|
|
II-23-A
|
|
Variable (2)
|
|
$ 4,377,712.84
|
|
August 25, 2035
|
|
|
II-23-B
|
|
Variable (2)
|
|
$ 4,377,712.84
|
|
August 25, 2035
|
|
|
II-24-A
|
|
Variable (2)
|
|
$ 3,318,569.08
|
|
August 25, 2035
|
|
|
II-24-B
|
|
Variable (2)
|
|
$ 3,318,569.08
|
|
August 25, 2035
|
|
|
II-25-A
|
|
Variable (2)
|
|
$ 1,378,585.64
|
|
August 25, 2035
|
|
|
II-25-B
|
|
Variable (2)
|
|
$ 1,378,585.64
|
|
August 25, 2035
|
|
|
II-26-A
|
|
Variable (2)
|
|
$ 1,314,322.23
|
|
August 25, 2035
|
|
|
II-26-B
|
|
Variable (2)
|
|
$ 1,314,322.23
|
|
August 25, 2035
|
|
|
II-27-A
|
|
Variable (2)
|
|
$ 1,253,086.60
|
|
August 25, 2035
|
|
|
II-27-B
|
|
Variable (2)
|
|
$ 1,253,086.60
|
|
August 25, 2035
|
|
|
II-28-A
|
|
Variable (2)
|
|
$ 1,194,734.02
|
|
August 25, 2035
|
|
|
II-28-B
|
|
Variable (2)
|
|
$ 1,194,734.02
|
|
August 25, 2035
|
|
|
II-29-A
|
|
Variable (2)
|
|
$ 1,139,127.62
|
|
August 25, 2035
|
|
|
II-29-B
|
|
Variable (2)
|
|
$ 1,139,127.62
|
|
August 25, 2035
|
|
|
II-30-A
|
|
Variable (2)
|
|
$ 1,086,137.07
|
|
August 25, 2035
|
|
|
II-30-B
|
|
Variable (2)
|
|
$ 1,086,137.07
|
|
August 25, 2035
|
|
|
II-31-A
|
|
Variable (2)
|
|
$ 1,035,636.21
|
|
August 25, 2035
|
|
|
II-31-B
|
|
Variable (2)
|
|
$ 1,035,636.21
|
|
August 25, 2035
|
|
|
II-32-A
|
|
Variable (2)
|
|
$ 987,281.39
|
|
August 25, 2035
|
|
|
II-32-B
|
|
Variable (2)
|
|
$ 987,281.39
|
|
August 25, 2035
|
|
|
II-33-A
|
|
Variable (2)
|
|
$ 941,379.94
|
|
August 25, 2035
|
|
|
II-33-B
|
|
Variable (2)
|
|
$ 941,379.94
|
|
August 25, 2035
|
|
|
II-34-A
|
|
Variable (2)
|
|
$ 897,690.82
|
|
August 25, 2035
|
|
|
II-34-B
|
|
Variable (2)
|
|
$ 897,690.82
|
|
August 25, 2035
|
|
|
II-35-A
|
|
Variable (2)
|
|
$ 856,057.08
|
|
August 25, 2035
|
|
|
II-35-B
|
|
Variable (2)
|
|
$ 856,057.08
|
|
August 25, 2035
|
|
|
II-36-A
|
|
Variable (2)
|
|
$ 816,376.17
|
|
August 25, 2035
|
|
|
II-36-B
|
|
Variable (2)
|
|
$ 816,376.17
|
|
August 25, 2035
|
|
|
II-37-A
|
|
Variable (2)
|
|
$ 778,555.34
|
|
August 25, 2035
|
|
|
II-37-B
|
|
Variable (2)
|
|
$ 778,555.34
|
|
August 25, 2035
|
|
|
II-38-A
|
|
Variable (2)
|
|
$ 742,498.05
|
|
August 25, 2035
|
|
|
II-38-B
|
|
Variable (2)
|
|
$ 742,498.05
|
|
August 25, 2035
|
|
|
II-39-A
|
|
Variable (2)
|
|
$ 708,139.35
|
|
August 25, 2035
|
|
|
II-39-B
|
|
Variable (2)
|
|
$ 708,139.35
|
|
August 25, 2035
|
|
|
II-40-A
|
|
Variable (2)
|
|
$ 675,389.30
|
|
August 25, 2035
|
|
|
II-40-B
|
|
Variable (2)
|
|
$ 675,389.30
|
|
August 25, 2035
|
|
|
II-41-A
|
|
Variable (2)
|
|
$ 644,171.85
|
|
August 25, 2035
|
|
|
II-41-B
|
|
Variable (2)
|
|
$ 644,171.85
|
|
August 25, 2035
|
|
|
II-42-A
|
|
Variable (2)
|
|
$ 614,414.61
|
|
August 25, 2035
|
|
|
II-42-B
|
|
Variable (2)
|
|
$ 614,414.61
|
|
August 25, 2035
|
|
|
II-43-A
|
|
Variable (2)
|
|
$ 12,885,111.21
|
|
August 25, 2035
|
|
|
II-43-B
|
|
Variable (2)
|
|
$ 12,885,111.21
|
|
August 25, 2035
|
|
________________
|
(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. The following table irrevocably
sets forth the designation, the REMIC II Remittance Rate, the
initial aggregate 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. None of the REMIC II Regular Interests will
be certificated.
|
|
|
Initial
Uncertificated
Balance
|
Latest Possible
Maturity Date (1)
|
|
AA
|
Variable (2)
|
$ 256,168,317.27
|
August 25, 2035
|
|
A-1
|
Variable (2)
|
$ 996,975.00
|
August 25, 2035
|
|
A-2A
|
Variable (2)
|
$ 492,015.00
|
August 25, 2035
|
|
A-2B
|
Variable (2)
|
$ 333,290.00
|
August 25, 2035
|
|
A-2C
|
Variable (2)
|
$ 62,670.00
|
August 25, 2035
|
|
A-2D
|
Variable (2)
|
$ 140,870.00
|
August 25, 2035
|
|
M-1
|
Variable (2)
|
$ 321,515.00
|
August 25, 2035
|
|
M-2
|
Variable (2)
|
$ 81,035.00
|
August 25, 2035
|
|
M-3
|
Variable (2)
|
$ 22,220.00
|
August 25, 2035
|
|
M-4
|
Variable (2)
|
$ 45,745.00
|
August 25, 2035
|
|
M-5
|
Variable (2)
|
$ 27,445.00
|
August 25, 2035
|
|
M-6
|
Variable (2)
|
$ 16,990.00
|
August 25, 2035
|
|
M-7
|
Variable (2)
|
$ 24,835.00
|
August 25, 2035
|
|
M-8
|
Variable (2)
|
$ 14,375.00
|
August 25, 2035
|
|
M-9
|
Variable (2)
|
$ 13,070.00
|
August 25, 2035
|
|
ZZ
|
Variable (2)
|
$ 2,634,874.84
|
August 25, 2035
|
|
IO
|
Variable (2)
|
| |
