Base Offering Circular – Multifamily 87 Trust Agreement........................  An agreement between the Sponsor and the Trustee that identifies and establishes the Trust in respect of which Trust an election will be made to treat the assets of such Trust  as one or more “real estate mortgage investment conduits” for federal income tax purposes.  Each Trust Agreement incorporates the related REMIC Standard Trust Provisions by reference and may modify, amend or supplement the conditions of such REMIC Standard Trust Provisions in any respect. Trust Asset ................................  As to any Trust, any Trust MBS, Underlying Certificate, or Underlying Callable Security, conveyed thereto by the related Sponsor. Trust Asset Depository..............  Any depository institution acceptable to Ginnie Mae at which a Trust Asset Depository Account is established. Trust Asset Depository Account ..................................... With respect to each Trust, to the extent required by the applicable Trust Agreement, a limited-purpose account maintained by the Trustee at one or more Trust Asset Depositories, which account shall be credited with all distributions in respect of the Trust Assets (other than Trust Assets maintained through the book-entry system of the Federal Reserve Bank of New York) held in the related Trust Asset Depository. Trust Asset Group .....................  One of two or more groups into which the Trust Assets conveyed to a Trust may be segregated as described in the related Trust Agreement and Offering Circular Supplement.   Each Trust Asset Group will be identified by numerical designation. Trust Asset Payment Date.........  A Ginnie Mae Certificate Payment Date, Underlying Certificate Payment Date or Underlying Callable Security Payment Date, as the context requires. Trust Counsel ............................  With respect to each Series, the law firm, designated in the Sponsor Agreement as counsel to the related REMIC Trust and MX Trust, if any, responsible for preparing the Offering Circular and Closing Documents, for coordinating preclosing and closing and for providing certain Opinions of Counsel. Trust Fund .................................  The corpus of the Trust or MX Trust, as the case may be, established by the Trust Agreement or MX Trust Agreement, as applicable, as further described in the respective agreements. Trust MBS.................................  As to any Trust, any Ginnie Mae Multifamily Certificate conveyed thereto by the related Sponsor.