Reporting and Tax Administration .......................................................................................................... 40 Backup Withholding.................................................................................................................................. 41 STATE TAX CONSIDERATIONS......................................................................................................................... 41 ERISA CONSIDERATIONS .................................................................................................................................... 42 LEGAL INVESTMENT CONSIDERATIONS ....................................................................................................... 42 SECONDARY MARKET.......................................................................................................................................... 42 APPENDIX I        CLASS TYPES................................................................................................................. 44 APPENDIX II        GLOSSARY..................................................................................................................... 45 Base Offering Circular - Single Family 4 RICHMOND 649290v15