Base Offering Circular – Multifamily 60 APPENDIX II October 1, 2004 GLOSSARY The following list contains an abbreviated definition of certain capitalized terms used in this Multifamily Base Offering Circular, in Offering Circular Supplements and in Trust Agreements for any Multifamily Series.  These definitions will apply unless otherwise specified in the text of the Multifamily Base Offering Circular or an Offering Circular Supplement.  The Trust Agreement and, if relevant, the MX Trust Agreement relating to a Multifamily Series of Securities may contain a more complete definition of certain of the terms defined herein, and reference should be made to the applicable Trust Agreement or MX Trust Agreement for more complete definitions of all the terms. Accountants...............................  With respect to each Series, an accounting firm, designated in the related Sponsor Agreement, that is responsible for performing certain agreed-upon procedures relating to certain numerical information (a) in the Offering Circular and (b) on the Final Data Statement, Final Schedules and Supplemental Statement, if any. Accounting Date........................  For any Class, with respect to each Distribution Date, the last day of the related Accrual Period. Accretion Directed Class...........  A Class that (1) is designed to receive principal distributions from interest accretions on specified Partial Accrual or Accrual Classes and (2) on the basis of such structure, exhibits a stable Weighted Average Lives from 0% of the assumed prepayment rate of the applicable prepayment model to either (a) the pricing percentage of the assumed prepayment rate of the applicable prepayment model above or (b) a percentage of the assumed prepayment rate of the applicable prepayment model that, although lower than such pricing percentage, is close enough to satisfy Ginnie Mae.  Such a Class may also receive principal payments from principal paid in respect of Trust Assets. Accredited Investor ...................  An “accredited investor” as defined in Rule 501(a) of Regulation D of the Securities Act of 1933, as amended. Accrual Amount........................  With respect to each Series (or, if the Series is segregated into Security Groups, each Security Group) and each Distribution Date, the amount of interest accrued on any Partial Accrual Class or Accrual Class and not distributable as interest on such Class on that Distribution Date. When preceded by a Class designation (e.g., the “Accrual Amount”), such amount with respect to the specified Partial Accrual Class or Accrual Class.