Base Offering Circular - Multifamily
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Excess MBS Portion ..................
The excess of the principal balance of the Trust MBS
underlying a Callable Class Security over the Class
Principal Balance of such Callable Class Security.
Exchange Fee .............................
The greater of (i) $5,000 or (ii) the lesser of $15,000 or 1/32
of 1% of the outstanding principal balance of the Callable
Class being redeemed.
Excess Payment Account ...........
With respect to each Trust that issues Securities backed by
Ginnie Mae Multifamily Certificates, an Eligible Account
established and maintained by the Trustee to which are
deposited certain unidentified amounts that may be
attributable to principal prepayments or Prepayment
Penalties, as specified in Section 3.03(a) of the Standard
Trust Provisions or the Trust Agreement, and from which
identified principal prepayments and Prepayment Penalties
are payable on the following Special Excess Distribution
Date, as set forth in Section 3.05 of the Standard Trust
Provisions or the Trust Agreement.
Excess Payments ........................
With respect to a Series and a Special Excess Distribution
Date, all amounts in the Excess Payment Account
immediately preceding that Special Excess Distribution
Date.
FHA............................................
The Federal Housing Administration
FHA Loans .................................
With respect to a Ginnie Mae Multifamily Certificate,
multifamily mortgage loans insured by FHA or coinsured by
FHA and a mortgage lender.
FHLB of San Francisco..............
The Federal Home Loan Bank of San Francisco.
Final Data Statement..................
If, as of the Closing Date, any of the characteristics of the
Mortgage Loans underlying the Trust MBS differ materially
from the characteristics described in Exhibit A to the related
Offering Circular Supplement, the list prepared by the
Sponsor and delivered on the Closing Date to the
Information Agent that enumerates any such differences.
Final Distribution Date...............
As to each Class, the Distribution Date, set forth in the
related Trust Agreement, on or before which the final
payment due on that Class will be made. With respect to
each Pooling REMIC Regular Interest, the Final
Distribution Date shall be the latest of the Final Distribution
Dates of the corresponding Security or Securities.