Base Offering Circular – Multifamily 930060 76 P&I Custodial Account .............  With respect to a Ginnie Mae Construction Loan Certificate, the non-interest bearing custodial account of the related Ginnie Mae Issuer into which any principal payments, unscheduled payments of principal, and prepayment penalties received on the related Mortgage Loan prior to the applicable Maturity Date are deposited. PAC or Planned Authorization Class.......................................... A Class that is designed to receive distributions of principal using a predetermined schedule derived by assuming two constant prepayment rates for the underlying Mortgage Loans.   These two rates are the endpoints for the Structuring Range for the PAC Class.  The endpoints must be at least 30% points above and below the pricing speed.  The PAC Classes in any Series or Security Group may be subdivided into different categories (e.g., PAC I, PAC II) having different structuring ranges.  The structuring range for a PAC I Class of a Series or Security Group usually is wider than the structuring range for a PAC II Class of such Series or Security Group, as applicable. PAC Component ........................ A Component that is designed to receive distributions of principal using a predetermined schedule derived by assuming two constant prepayment rates for the underlying Mortgage Loans.  These two rates are the endpoints for the Structuring Range for the PAC Component.  The endpoints must be at least 30% points above and below the pricing speed.  The PAC Components in any Series or Security Group may be subdivided into different categories (e.g., PAC I, PAC II) having different structuring ranges.  The structuring range for a PAC I Component of a Series or Security Group usually is wider than the structuring range for a PAC II Component of such Series or Security Group, as applicable. Partial Accrual Class.................  A Class on which interest accrues during any Accrual Period and (a) a portion of such accrued interest is added to its principal amount on each Distribution Date and is not distributable as interest until a later date or the occurrence of a specified future event, and (b) the Class receives distribution of the remainder as interest.  The interest that accrues on such Classes but is not distributed to such Classes is distributed to certain Accretion Directed Classes or other Classes as principal. Participant .................................  With respect to a Series, a Person named in the related Sponsor Agreement as Sponsor, Participating Affiliate, Co-Sponsor (if any), Trust Counsel, Co-Trust Counsel (if any), Accountants, Trustee or Trustee’s Counsel.