changes in prepayment rates, prevailing interest rates and other economic factors, which may limit  the  usefulness  of,  and  be  directly  contrary  to  the  assumptions  used  in  preparing  the information included in, the offering document. See "Underlying Certificates" in the Multifam- ily Base Offering Circular. Each Underlying Certificate provides for monthly distributions, including any prepayments and other unscheduled recoveries of the Mortgage Loans underlying such Underlying Certifi- cate, and is further described in the table contained in Exhibit B to this Supplement. The table also  sets  forth  information  regarding  approximate  weighted  average  remaining  terms  to maturity, loan ages and mortgage rates of Mortgage Loans underlying the related Ginnie Mae Multifamily Certificates. The Ginnie Mae Multifamily Certificates underlying the Underlying Certificates consist of Ginnie Mae Project Loan Certificates deposited into the related Underlying Trusts (collectively, with the Group 1 Trust PLCs, the "Trust PLCs"). The Trust CLCs (Group 1) Each Trust CLC is based on and backed by a single Mortgage Loan secured by a multifamily project  under  construction  and  insured  by  the  Federal  Housing  Administration  ("FHA") pursuant to an FHA Insurance Program described under "FHA Insurance Programs" in this Supplement. Ginnie Mae Construction Loan Certificates are generally issued monthly by the related Ginnie Mae Issuer as construction progresses on the related multifamily project and as advances are insured by FHA. Prior to the issuance of Ginnie Mae Construction Loan Certifi- cates,  the  Ginnie  Mae  Issuer  must  provide  Ginnie  Mae  with  supporting  documentation regarding advances and disbursements on the Mortgage Loan and must satisfy the prerequisites for issuance as described in Chapter 32 of the MBS Guide. Each Ginnie Mae Construction Loan Certificate may be redeemed for a pro rata share of a Ginnie Mae Project Loan Certificate that bears the same interest rate as the Ginnie Mae Construction Loan Certificate. The original maturity of a Ginnie Mae Construction Loan Certificate is at least 200% of the construction anticipated by FHA for the multifamily project. The stated maturity of the Ginnie Mae Construction Loan Certificates may be extended after issuance at the request of the related Ginnie Mae Issuer with the prior written approval of Ginnie Mae. With respect to Ginnie Mae Construction Loan Certificates issued on or prior to December 31, 2002, prior to approving any extension  request,  Ginnie  Mae  requires  that  all  of  the  holders  of  all  related  Ginnie  Mae Construction Loan Certificates consent to the extension of the term to maturity. With respect to Ginnie Mae Construction Loan Certificates issued after December 31, 2002, prior to approving any extension request, Ginnie Mae requires that the contracted security purchaser, the entity bound under contract with the related Ginnie Mae issuer to purchase all of the Ginnie Mae Construction  Loan  Certificates  related  to  a  particular  multifamily  project  consent  to  the extension of the term to maturity. The Sponsor, as the holder or contracted security purchaser of the Trust CLCs and any previously issued or hereafter existing Ginnie Mae Construction Loan Certificates relating to the Trust CLCs identified in Exhibit A to this supplement (the "Sponsor CLCs"), has waived its right and the right of all future holders of the Sponsor CLCs, including the Trustee, as the assignee of the Sponsor's rights in the Trust CLCs, to withhold consent to any extension requests, provided that the length of the extension does not, in combination with any previously granted extensions related thereto, exceed the term of the underlying Mortgage Loan insured by FHA. In addition, as a condition to the transfer of the Sponsor CLCs and the Trust CLCs, the Sponsor Agreement will require the Sponsor to obtain from each purchaser of Sponsor CLCs, and the Trust Agreement will require the Trustee to obtain from each purchaser of  Trust  CLCs,  a  written  agreement  pursuant  to  which  each  such  purchaser  will  agree S-13