Allocation of Prepayment Penalties:
On each Distribution Date, the Trustee will pay any Prepayment
Penalties that are collected and passed through to the Trust as follows:
Š
75% to Class IO, and
Š
25% pro rata to classes A, B, C, D and Z according to the portion of the Adjusted Principal Distribution
Amount distributed to each Class on that Distribution Date.
Accrual Class:
Interest will accrue on the Accrual Class identified on the inside front cover of this Supplement
at the per annum rate set forth under “Terms Sheet—Interest Rates.” However, no interest will be distributed to
the Accrual Class as interest. Interest so accrued on the Accrual Class on each Distribution Date will constitute
the Accrual Amount, which will be added to the Class Principal Balance of the Accrual Class on each
Distribution Date and will be distributable as principal as set forth in this Terms Sheet under “Allocation of
Principal.”
Notional Class:
The Notional Class will not receive distributions of principal but has a Class Notional Balance
for convenience in describing its entitlement to interest. The Class Notional Balance of the Notional Class
represents the percentage indicated below of, and reduces to that extent with, the Class Principal Balances
indicated:
Class
Original Class
Notional Balance
Represents
IO . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$293,438,264 100% of A, B, C, D and Z (SEQ Classes)
Tax Status:
Double REMIC Series. See “Certain Federal Income Tax Consequences” in this Supplement and
in the Multifamily Base Offering Circular.
Regular and Residual Classes:
Class RR is a Residual Class and includes the Residual Interest of the Issuing
REMIC and the Pooling REMIC; all other Classes of REMIC Securities are Regular Classes.
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