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Page
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ARTICLE
I
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8
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Section 1.01 Definitions
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8
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Aggregate Certificate Principal
Balance
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8
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Appraised Value
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8
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Assigned Prepayment Premiums
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8
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Assignment of Proprietary Lease
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8
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Authenticating Agent
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8
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Authorized Denomination
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8
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Bankruptcy Loss
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9
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Beneficial Holder
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9
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Benefit Plan Opinion
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9
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Book-Entry Certificates
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9
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Business Day
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9
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Buydown Agreement
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9
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Buydown Fund
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9
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Buydown Fund Account
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10
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Buydown Loan
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10
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Cap Counterparty
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10
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Carry-Forward Subsequent Recoveries
Amount
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10
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Certificate
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10
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Certificate Account
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10
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Certificate Group
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10
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Certificateholder or Holder
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11
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Certificate Interest Rate
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11
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Certificate of Trust
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11
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Certificate Principal Balance
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11
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Certificate Register and Certificate
Registrar
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11
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Class
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11
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Class 1-CB Certificates
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12
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Class 1-CB-L Regular Interest
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12
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Class 2-A-1 Certificates
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12
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Class 2-A-1-L Regular Interest
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12
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Class 2-A-2 Certificates
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12
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Class 2-A-2-L Regular Interest
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12
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Class 2-A-3 Certificates
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12
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Class 2-A-3-L Regular Interest
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12
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Class 2-A-3-M Regular Interest
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12
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Class 2-A-4 Certificates
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13
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Class 2-A-4-L Regular Interest
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13
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Class 2-A-5 Certificates
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13
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Class 2-A-5-L Regular Interest
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13
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Class 2-A-6 Certificates
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13
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Class 2-A-6 Notional Amount
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13
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Class 2-A-7 Certificates
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13
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Class 2-A-7-L Regular Interest
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13
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Class 2-P Fraction
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13
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Class 2-P Mortgage Loan
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13
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Class 3-CB Certificates
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13
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Class 3-CB-L Regular Interest
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13
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Class 3-P Fraction
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13
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Class 3-P Mortgage Loan
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13
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Class 4-A-1 Certificates
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14
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Class 4-A-1-L Regular Interest
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14
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Class 4-A-2 Certificates
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14
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Class 4-A-2-L Regular Interest
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14
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Class 4-A-2-M Regular Interest
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14
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Class 4-A-3 Certificates
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14
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Class 4-A-3 Notional Amount
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14
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Class 4-A-4 Certificates
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14
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Class 4-A-4-L Regular Interest
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14
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Class 4-A-5 Certificates
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14
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Class 4-A-5-L Regular Interest
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14
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Class 4-P Fraction
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14
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Class 4-P Mortgage Loan
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14
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Class 5-A-1 Certificates
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14
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Class 5-A-1-L Regular Interest
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15
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Class 5-A-2 Certificates
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15
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Class 5-A-2-L Regular Interest
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15
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Class 5-A-3 Certificates
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15
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Class 5-A-3-L Regular Interest
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15
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Class 5-A-4 Certificates
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15
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Class 5-A-4-L Regular Interest
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15
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Class 5-A-5 Certificates
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15
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Class 5-A-5-L Regular Interest
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15
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Class 5-A-6 Certificates
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15
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Class 5-A-6-L Regular Interest
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15
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Class 5-A-6-M Regular Interest
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15
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Class 5-A-7 Certificates
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15
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Class 5-A-7 Notional Amount
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15
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Class 5-A-8 Certificates
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16
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Class 5-A-8-L Regular Interest
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16
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Class 5-A-9 Certificates
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16
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Class 5-A-9-L Regular Interest
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16
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Class 5-P Fraction
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16
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Class 5-P Mortgage Loan
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16
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Class A Certificates
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16
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Class A-L Regular Interests
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16
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Class B Certificates
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16
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Class B Percentage
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16
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Class B-L Regular Interests
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16
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Class B-1 Certificates
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16
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Class B-1-L Regular Interest
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16
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Class B-2 Certificates
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16
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Class B-2-L Regular Interest
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17
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Class B-3 Certificates
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17
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Class B-3-L Regular Interest
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17
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Class B-4 Certificates
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17
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Class B-4-L Regular Interest
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17
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Class B-5 Certificates
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17
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Class B-5-L Regular Interest
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17
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Class B-6 Certificates
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17
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Class B-6-L Regular Interest
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17
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Class C-P Certificates
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17
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Class C-P-L Regular Interest
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17
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Class C-P-M Regular Interest
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17
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Class C-X Certificates
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17
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Class C-X Notional Amount
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17
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Class C-X-L Regular Interest
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18
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Class C-X-M Regular Interest
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18
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Class C-Y Principal Reduction Amounts
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18
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Class C-Y Regular Interests
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18
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Class C-Y-1 Principal Distribution
Amount
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18
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Class C-Y-1 Regular Interest
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18
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Class C-Y-2 Principal Distribution
Amount
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18
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Class C-Y-2 Regular Interest
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18
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Class C-Z Principal Reduction Amounts
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18
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Class C-Z Regular Interests
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19
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Class C-Z-1 Principal Distribution
Amount
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19
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Class C-Z-1 Regular Interest
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19
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Class C-Z-2 Principal Distribution
Amount
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19
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Class C-Z-2 Regular Interest
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19
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Class Notional Amount
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19
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Class P Fraction
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19
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Class P Mortgage Loan
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19
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Class PPP Certificates
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19
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Class Principal Balance
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19
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Class R Certificates
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20
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Class R Residual Interests
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20
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Class R-1 Residual Interest
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20
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Class R-2 Residual Interest
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21
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Class R-3 Residual Interest
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21
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Clean-Up Call Percentage
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21
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Clearing Agency
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21
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Closing Date
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21
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Closing Date Loan-to-Value Ratio
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21
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Code
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21
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Company
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21
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Compensating Interest
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21
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Cooperative
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21
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Cooperative Apartment
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22
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Cooperative Lease
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22
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Cooperative Loans
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22
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Cooperative Stock
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22
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Cooperative Stock Certificate
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22
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Corporate Trust Office
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22
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Corporation
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22
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Corresponding Class
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22
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Credit Support Depletion Date
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23
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Cumulative Carry-Forward Subsequent Recoveries
Amount
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23
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Curtailment
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23
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Curtailment Shortfall
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23
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Custodial Account for P&I
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23
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Custodial Account for Reserves
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24
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Custodial Agreement
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24
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Custodian
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24
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Cut-Off Date
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24
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Definitive Certificates
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24
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Delaware Trustee
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24
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Depositary Agreement
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24
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Destroyed Mortgage Note
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25
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Determination Date
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25
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Disqualified Organization
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25
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Distribution Date
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25
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DTC
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25
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DTC Participant
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25
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Due Date
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25
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Eligible Institution
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25
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Eligible Investments
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25
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ERISA
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27
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ERISA Restricted Certificate
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27
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Event of Default
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27
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Excess Liquidation Proceeds
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27
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Excess Subsequent Recoveries
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27
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Fannie Mae
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27
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FDIC
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27
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FHA
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27
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Final Maturity Date
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27
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Final Yield Maintenance Payment Date
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27
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Fitch
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27
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Freddie Mac
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27
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Group 1 Certificates
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28
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Group 1 Loans
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28
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Group 1 Premium Rate Mortgage Loans
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28
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Group 1 Senior Liquidation Amount
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28
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Group 1 Senior Percentage
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28
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Group 1 Senior Prepayment Percentage, Group 2
Senior Prepayment Percentage, Group 3 Senior Prepayment Percentage,
Group 4 Senior Prepayment Percentage or Group 5 Senior Prepayment
Percentage
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28
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Group 1 Senior Principal Distribution
Amount
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31
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Group 1 Subordinate Balance
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31
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Group 1 Subordinate Percentage
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31
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Group 1 Subordinate Prepayment
Percentage
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31
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Group 1-A Certificates
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31
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Group 1-A-L Regular Interests
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31
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Group 1-L Regular Interests
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31
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Group 2 Certificates
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31
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Group 2 Loans
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31
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Group 2 Lockout Adjusted Percentage
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32
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Group 2 Lockout Liquidation Amount
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32
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Group 2 Lockout Percentage
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32
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Group 2 Lockout Prepayment Percentage
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32
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Group 2 Lockout Priority Amount
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32
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Group 2 Premium Rate Mortgage Loans
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32
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Group 2 Priority Amount 1
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32
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Group 2 Priority Amount 2
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32
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Group 2 Priority Amount 3
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32
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Group 2 Priority Amount 4
|
33
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Group 2 Senior Liquidation Amount
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33
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Group 2 Senior Percentage
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33
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Group 2 Senior Prepayment Percentage
|
33
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Group 2 Senior Principal Distribution
Amount
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33
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Group 2 Subordinate Percentage
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33
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Group 2 Subordinate Prepayment
Percentage
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33
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Group 2-A Certificates
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34
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Group 2-A-L Regular Interests
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34
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Group 2-L Regular Interests
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34
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Group 3 Certificates
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34
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Group 3 Loans
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34
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Group 3 Premium Rate Mortgage Loans
|
34
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Group 3 Senior Liquidation Amount
|
34
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Group 3 Senior Percentage
|
34
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Group 3 Senior Prepayment Percentage
|
34
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Group 3 Senior Principal Distribution
Amount
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34
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Group 3 Subordinate Percentage
|
34
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Group 3 Subordinate Prepayment
Percentage
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34
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Group 3-A Certificates
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35
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Group 3-A-L Regular Interests
|
35
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Group 3-L Regular Interests
|
35
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Group 4 Certificates
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35
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Group 4 Loans
|
35
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Group 4 Lockout Adjusted Percentage
|
35
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Group 4 Lockout Liquidation Amount
|
35
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Group 4 Lockout Percentage
|
35
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Group 4 Lockout Prepayment Percentage
|
35
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Group 4 Lockout Priority Amount
|
35
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Group 4 Premium Rate Mortgage Loans
|
35
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Group 4 Senior Liquidation Amount
|
35
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Group 4 Senior Percentage
|
36
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Group 4 Senior Prepayment Percentage
|
36
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Group 4 Senior Principal Distribution
Amount
|
36
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Group 4 Subordinate Percentage
|
36
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Group 4 Subordinate Prepayment
Percentage
|
36
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Group 4-A Certificates
|
36
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Group 4-A-L Regular Interests
|
36
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Group 4-L Regular Interests
|
36
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Group 5 Certificates
|
36
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Group 5 Loans
|
36
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Group 5 Lockout Adjusted Percentage
|
36
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Group 5 Lockout Liquidation Amount
|
37
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Group 5 Lockout Percentage
|
37
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Group 5 Lockout Prepayment Percentage
|
37
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Group 5 Lockout Priority Amount
|
37
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Group 5 Premium Rate Mortgage Loans
|
37
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Group 5 Priority Amount 1
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37
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Group 5 Priority Amount 2
|
37
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Group 5 Priority Amount 3
|
37
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Group 5 Priority Amount 4
|
37
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Group 5 Senior Liquidation Amount
|
38
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Group 5 Senior Percentage
|
38
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Group 5 Senior Prepayment Percentage
|
38
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Group 5 Senior Principal Distribution
Amount
|
38
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Group 5 Subordinate Percentage
|
38
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Group 5 Subordinate Prepayment
Percentage
|
38
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Group 5-A Certificates
|
38
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Group 5-A-L Regular Interests
|
38
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Group 5-L Regular Interests
|
39
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Groups 2, 3, 4 and 5 Subordinate
Balance
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39
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Indirect DTC Participants
|
39
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Initial Custodial Agreement
|
39
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Initial Custodian
|
39
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Insurance Proceeds
|
39
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Interest Distribution Amount
|
39
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Interest Transfer Amount
|
39
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Investment Account
|
39
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Investment Depository
|
40
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Junior Subordinate Certificates
|
40
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Last Scheduled Distribution Date
|
40
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Lender
|
40
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LIBOR
|
40
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LIBOR Determination Date
|
40
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Liquidated Mortgage Loan
|
40
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Liquidation Principal
|
40
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Liquidation Proceeds
|
40
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Loan Group
|
40
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Loan Group 1
|
40
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Loan Group 2
|
40
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Loan Group 3
|
41
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Loan Group 4
|
41
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Loan Group 5
|
41
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Loan-to-Value Ratio
|
41
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Lowest Class B Owner
|
41
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MERS
|
41
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MERS Loan
|
41
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MERS® System
|
41
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MIN
|
41
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MOM Loan
|
41
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Monthly P&I Advance
|
41
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Monthly Payment
|
41
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Moody’s
|
41
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Mortgage
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41
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Mortgage File
|
41
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Mortgage Interest Rate
|
44
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Mortgage Loan Schedule
|
44
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Mortgage Loans
|
45
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|
Mortgage Note
|
45
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Mortgage Pool
|
45
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Mortgage Pool Assets
|
45
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Mortgaged Property
|
45
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Mortgagor
|
45
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Nonrecoverable Advance
|
46
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Non-U.S. Person
|
46
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Notice Addresses
|
46
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OTS
|
46
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Officer’s Certificate
|
46
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Opinion of Counsel
|
46
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|
Original Trust Agreement
|
46
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|
Original Value
|
46
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|
Overcollateralized Group
|
47
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|
Ownership Interest
|
47
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|
Pass-Through Entity
|
47
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Pass-Through Rate
|
47
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|
Paying Agent
|
47
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|
Payoff
|
47
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|
Payoff Earnings
|
47
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|
Payoff Interest
|
47
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|
Payoff Period
|
48
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|
Percentage Interest
|
48
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|
Permitted Transferee
|
48
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|
Person
|
49
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|
Prepaid Monthly Payment
|
49
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|
Prepayment Premium
|
49
|
|
Primary Insurance Policy
|
49
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|
Principal Balance
|
49
|
|
Principal Payment
|
50
|
|
Principal Payment Amount
|
50
|
|
Principal Prepayment
|
50
|
|
Principal Prepayment Amount
|
50
|
|
Principal Transfer Amount
|
50
|
|
Prior Period
|
50
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|
Prospectus
|
50
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|
Purchase Obligation
|
51
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|
Purchase Price
|
51
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|
Rating Agency
|
51
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|
Ratings
|
51
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|
Realized Loss
|
51
|
|
Recognition Agreement
|
54
|
|
Record Date
|
54
|
|
Reference Banks
|
54
|
|
Regular Interest Group
|
55
|
|
Regular Interests
|
55
|
|
Relief Act Shortfall
|
55
|
|
REMIC
|
55
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|
REMIC Provisions
|
55
|
|
REMIC I
|
55
|
|
REMIC I Assets
|
55
|
|
REMIC I Available Distribution Amount
|
55
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|
REMIC I Distribution Amount
|
56
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|
REMIC I Regular Interests
|
59
|
|
REMIC II
|
59
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|
REMIC II Assets
|
59
|
|
REMIC II Available Distribution
Amount
|
59
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|
REMIC II Distribution Amount
|
59
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|
REMIC II Regular Interests
|
72
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|
REMIC III
|
72
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|
REMIC III Assets
|
72
|
|
REMIC III Available Distribution
Amount
|
72
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|
REMIC III Distribution Amount
|
73
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|
REMIC III Regular Interests
|
75
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|
Residual Certificates
|
76
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|
Residual Distribution Amount
|
76
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|
Responsible Officer
|
76
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|
ROV Mortgage Loan
|
76
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|
S&P
|
76
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|
Secretary of State
|
76
|
|
Securities Act
|
76
|
|
Security Agreement
|
77
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|
Senior Regular Interests
|
77
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|
Senior Subordinate Certificates
|
77
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|
Servicer
|
77
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|
Servicer Business Day
|
77
|
|
Servicing Fee
|
77
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|
Servicing Fee Rate
|
77
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|
Servicing Officer
|
77
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|
Special Primary Insurance Policy
|
77
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|
Special Primary Insurance Premium
|
77
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|
Statutory Trust Statute
|
77
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|
Step Down Percentage
|
77
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|
Streamlined Mortgage Loan
|
78
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|
Stripped Interest Rate
|
78
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|
Subordinate Certificates
|
78
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|
Subordinate Component Balance
|
78
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|
Subordinate Liquidation Amount
|
78
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|
Subordinate Percentage
|
79
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|
Subordinate Principal Distribution
Amount
|
79
|
|
Subordinate Principal Prepayments Distribution
Amount
|
80
|
|
Subordination Level
|
80
|
|
Subsequent Recoveries
|
80
|
|
Substitute Mortgage Loan
|
80
|
|
Supplemental Mortgage Loan Schedule
|
80
|
|
Tax Matters Person
|
80
|
|
Termination Date
|
81
|
|
Termination Payment
|
81
|
|
Total Transfer Amount
|
81
|
|
Transfer
|
81
|
|
Transferee
|
81
|
|
Transferee Affidavit and Agreement
|
81
|
|
Trust
|
81
|
|
Trustee
|
81
|
|
Uncollected Interest
|
81
|
|
Uncompensated Interest Shortfall
|
81
|
|
Undercollateralized Group
|
83
|
|
Underwriter
|
83
|
|
Underwriting Standards
|
83
|
|
Uninsured Cause
|
83
|
|
U.S. Person
|
83
|
|
VA
|
83
|
|
Withdrawal Date
|
83
|
|
Yield Maintenance Account
|
83
|
|
Yield Maintenance Agreements
|
84
|
|
Yield Maintenance Notional Balance
|
84
|
|
Yield Maintenance Payment Amount
|
84
|
|
|
|
|
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
|
85
|
|
Section 2.01 Creation of the
Trust
|
85
|
|
Section 2.02 Restrictions on Activities of
the Trust
|
86
|
|
Section 2.03 Separateness
Requirements
|
86
|
|
Section 2.04 Conveyance of Mortgage Pool
Assets; Security Interest
|
88
|
|
Section 2.05 Delivery of Mortgage
Files
|
89
|
|
Section 2.06 REMIC Election for REMIC
I
|
90
|
|
Section 2.07 Acceptance by
Trustee
|
92
|
|
Section 2.08 Representations and
Warranties of the Company Concerning the Mortgage Loans
|
94
|
|
Section 2.09 Acknowledgment of Transfer of
Mortgage Pool Assets
|
99
|
|
Section 2.10 Conveyance of REMIC II
Assets; Security Interest
|
100
|
|
Section 2.11 REMIC Election for REMIC
II
|
101
|
|
Section 2.12 Acknowledgement of Transfer
of REMIC II Assets
|
102
|
|
Section 2.13 Conveyance of REMIC III
Assets; Security Interest
|
102
|
|
Section 2.14 REMIC Election for REMIC
III
|
103
|
|
Section 2.15 Acknowledgement of Transfer
of REMIC III Assets; Authentication of Certificates
|
104
|
|
Section 2.16 Conveyance of Class 2-A-3-M,
Class 4-A-2-M and Class 5-A-6-M Regular Interests; Security
Interest
|
105
|
|
Section 2.17 Acknowledgement of Transfer
of Class 2-A-3-M, Class 4-A-2-M and Class 5-A-6-M Regular
Interests
|
106
|
|
Section 2.18 Legal Title
|
106
|
|
Section 2.19 Compliance with ERISA
Requirements
|
106
|
|
Section 2.20 Additional Representation of
the Company Concerning the Mortgage Loans
|
106
|
|
Section 2.21 Representations and
Warranties of the Company Regarding Prepayment Premiums; Remedies
for Breach
|
106
|
|
ARTICLE III Administration
and Servicing of Mortgage Loans
|
107
|
|
Section 3.01 The Servicer
|
107
|
|
Section 3.02 Custodial Accounts and
Buydown Fund Accounts
|
109
|
|
Section 3.03 The Investment Account;
Eligible Investments
|
110
|
|
Section 3.04 The Certificate
Account
|
111
|
|
Section 3.05 Permitted Withdrawals from
the Certificate Account, the Investment Account, Custodial Accounts
for P&I and Custodial Accounts for Reserves and of
Buydown Funds from the Buydown Fund Accounts
|
112
|
|
Section 3.06 Maintenance of Primary
Insurance Policies; Collections Thereunder
|
114
|
|
Section 3.07 Maintenance of Hazard
Insurance
|
114
|
|
Section 3.08 Enforcement of Due-on-Sale
Clauses; Assumption Agreements
|
114
|
|
Section 3.09 Realization Upon Defaulted
Mortgage Loans
|
115
|
|
Section 3.10 Trustee to Cooperate; Release
of Mortgage Files
|
117
|
|
Section 3.11 Compensation to the
Servicer
|
118
|
|
Section 3.12 Reports to the Trustee;
Certificate Account Statement
|
118
|
|
Section 3.13 Annual Statement as to
Compliance
|
119
|
|
Section 3.14 Access to Certain
Documentation and Information Regarding the Mortgage
Loans
|
119
|
|
Section 3.15 Annual Independent Public
Accountants’ Servicing Report
|
119
|
|
Section 3.16 Yield Maintenance
Account.
|
119
|
|
Section 3.17 [Reserved.]
|
120
|
|
Section 3.18 [Reserved.]
|
120
|
|
Section 3.19 Determination of LIBOR by
Servicer 120
|
|
|
Section 3.20 Assigned Prepayment
Premiums 122
|
|
|
ARTICLE IV Payments to
Certificateholders; Payment of Expenses
|
123
|
|
Section 4.01 Distributions to Holders of
REMIC I Regular Interests and Class R-1 Residual
Interest
|
123
|
|
Section 4.02 Monthly P&I Advances;
Distribution Reports to the Trustee
|
124
|
|
Section 4.03 Nonrecoverable
Advances
|
125
|
|
Section 4.04 Distributions to Holders of
REMIC II Regular Interests and Class R-2 Residual
Interest
|
125
|
|
Section 4.05 Distributions to
Certificateholders; Payment of Special Primary Insurance
Premiums
|
125
|
|
Section 4.06 Statements to
Certificateholders
|
127
|
|
ARTICLE V The
Certificates
|
128
|
|
Section 5.01 The Certificates
|
128
|
|
Section 5.02 Certificates Issuable in
Classes; Distributions of Principal and Interest; Authorized
Denominations
|
134
|
|
Section 5.03 Registration of Transfer and
Exchange of Certificates
|
134
|
|
Section 5.04 Mutilated, Destroyed, Lost or
Stolen Certificates
|
135
|
|
Section 5.05 Persons Deemed
Owners
|
135
|
|
Section 5.06 Temporary
Certificates
|
135
|
|
Section 5.07 Book-Entry for Book-Entry
Certificates
|
136
|
|
Section 5.08 Notices to Clearing
Agency
|
137
|
|
Section 5.09 Definitive
Certificates
|
137
|
|
Section 5.10 Office for Transfer of
Certificates
|
138
|
|
Section 5.11 Nature of
Certificates
|
138
|
|
ARTICLE VI The Company and
the Servicer
|
138
|
|
Section 6.01 Liability of the Company and
the Servicer
|
138
|
|
Section 6.02 Merger or Consolidation of
the Company or the Servicer
|
138
|
|
Section 6.03 Limitation on Liability of
the Company, the Servicer and Others
|
139
|
|
Section 6.04 Neither the Company nor the
Servicer may Resign
|
139
|
|
Section 6.05 Trustee Access
139
|
|
|
ARTICLE VII
Default
|
140
|
|
Section 7.01 Events of Default
|
140
|
|
Section 7.02 Trustee to Act; Appointment
of Successor
|
142
|
|
Section 7.03 Notification to
Certificateholders
|
143
|
|
ARTICLE VIII Concerning the
Trustees
|
144
|
|
Section 8.01 Duties of Trustees
|
144
|
|
Section 8.02 Certain Matters Affecting the
Trustees
|
145
|
|
Section 8.03 Trustees Not Liable for
Certificates or Mortgage Loans
|
146
|
|
Section 8.04 Trustees May Own
Certificates
|
146
|
|
Section 8.05 The Servicer to Pay
Trustees’ Fees and Expenses
|
146
|
|
Section 8.06 Eligibility Requirements for
Trustees
|
147
|
|
Section 8.07 Resignation and Removal of
Trustees
|
147
|
|
Section 8.08 Successor Trustee
|
148
|
|
Section 8.09 Merger or Consolidation of
Trustee
|
148
|
|
Section 8.10 Appointment of Co-Trustee or
Separate Trustee
|
149
|
|
Section 8.11 Authenticating
Agents
|
150
|
|
Section 8.12 Paying Agents
|
150
|
|
Section 8.13 Duties of Delaware
Trustee
|
151
|
|
Section 8.14 Amendment to Certificate of
Trust
|
152
|
|
Section 8.15 Limitation of
Liability
|
152
|
|
Section 8.16 Yield Maintenance
Agreements
|
152
|
|
ARTICLE IX
Termination
|
152
|
|
Section 9.01 Termination Upon Purchase by
the Servicer or Liquidation of All Mortgage Loans
|
152
|
|
Section 9.02 Additional Termination
Requirements
|
155
|
|
Section 9.03 Trust Irrevocable
|
155
|
|
ARTICLE X Miscellaneous
Provisions
|
155
|
|
Section 10.01 Amendment
|
155
|
|
Section 10.02 Recordation of
Agreement
|
157
|
|
Section 10.03 Limitation on Rights of
Certificateholders
|
157
|
|
Section 10.04 Access to List of
Certificateholders
|
158
|
|
Section 10.05 Governing Law
|
158
|
|
Section 10.06 Notices
|
159
|
|
Section 10.07 Severability of
Provisions
|
159
|
|
Section 10.08 Counterpart
Signatures
|
159
|
|
Section 10.09 Benefits of
Agreement
|
159
|
|
Section 10.10 Notices and Copies to Rating
Agencies
|
159
|
|
|
|
