SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
December 01, 1995
RESIDENTIAL FUNDING MORTGAGE SECURITIES I, INC. (as
seller under a Pooling and Servicing Agreement dated as
of December 1, 1995 providing for, inter alia, the
issuance of Mortgage Pass-Through Certificates, Series
1995-R20)
Residential Funding Mortgage Securities I, Inc.
(Exact name of registrant as specified in its charter)
DELAWARE 33-54227 75-2006294
(State or (Commission (I.R.S.
other Jurisdiction File Number) Employer
of Incorporation) Identification
No.)
8400 Normandale Lake Blvd.
Suite 600
Minneapolis, Minnesota 55437
(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code, is
(612) 832-7000
Item 7. Financial Statements, Pro Forma Financial
Information and Exhibits.
(a) Not applicable
(b) Not applicable
(c) Exhibits:
1. Pooling and Servicing Agreement, dated as
of December 1, 1995 among Residential Funding Mortgage
Securities I, Inc. as seller, Residential Funding
Corporation, as master servicer, and Bankers Trust
Company, as trustee.
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this
report to be signed on its behalf by the undersigned
thereunto duly authorized.
RESIDENTIAL FUNDING
MORTGAGE SECURITIES
I, INC.
By:/s/ Jill M. Johnson
Name: Jill M. Johnson
Title: Vice President
Dated: December 13, 1995
RESIDENTIAL FUNDING MORTGAGE SECURITIES I, INC.,
Company,
NORWEST MORTGAGE, INC.,
Master Servicer
RESIDENTIAL FUNDING CORPORATION,
Administrator
and
THE FIRST NATIONAL BANK OF CHICAGO
Trustee
POOLING AND SERVICING AGREEMENT
Dated as of December 1, 1995
Mortgage Pass-Through Certificates
Series 1995-R20
TABLE OF CONTENTS
ARTICLE I
DEFINITIONS
Section 1.01. Definitions. . . . . . . . . . . . . . . 3
Accrued Certificate Interest. . . . . . . . . . . 3
Adjusted Mortgage Rate. . . . . . . . . . . . . . 3
Adjusted Senior Accelerated Distribution
Percentage . . . . . . . . . . . . . . . . 4
Adjusted Senior Percentage. . . . . . . . . . . . 5
Administration Fee. . . . . . . . . . . . . . . . 5
Administration Fee Rate . . . . . . . . . . . . . 5
Administration Officer. . . . . . . . . . . . . . 5
Administrator . . . . . . . . . . . . . . . . . . 5
Advance . . . . . . . . . . . . . . . . . . . . . 5
Affiliate . . . . . . . . . . . . . . . . . . . . 5
Agreement . . . . . . . . . . . . . . . . . . . . 5
Amount Held for Future Distribution . . . . . . . 5
Appraised Value . . . . . . . . . . . . . . . . . 6
Assignment. . . . . . . . . . . . . . . . . . . . 6
Available Distribution Amount . . . . . . . . . . 6
Bankruptcy Amount . . . . . . . . . . . . . . . . 6
Bankruptcy Code . . . . . . . . . . . . . . . . . 7
Bankruptcy Loss . . . . . . . . . . . . . . . . . 7
Book-Entry Certificate. . . . . . . . . . . . . . 7
Business Day. . . . . . . . . . . . . . . . . . . 7
Buydown Funds . . . . . . . . . . . . . . . . . . 8
Buydown Mortgage Loan . . . . . . . . . . . . . . 8
Cash Liquidation. . . . . . . . . . . . . . . . . 8
Certificate . . . . . . . . . . . . . . . . . . . 8
Certificate Account . . . . . . . . . . . . . . . 8
Certificate Account Deposit Date. . . . . . . . . 8
Certificateholder or Holder . . . . . . . . . . . 8
Certificate Owner . . . . . . . . . . . . . . . . 8
Certificate Principal Balance . . . . . . . . . . 9
Certificate Register and Certificate
Registrar. . . . . . . . . . . . . . . . . 9
Class . . . . . . . . . . . . . . . . . . . . . . 9
Class A Certificate . . . . . . . . . . . . . . . 9
Class A-11 Collection Shortfall . . . . . . . . . 10
Class A-11 Principal Distribution
Amount . . . . . . . . . . . . . . . . . . 10
Class B Certificate . . . . . . . . . . . . . . . 10
Class B Percentage. . . . . . . . . . . . . . . . 10
Class B-1 Percentage. . . . . . . . . . . . . . . 10
Class B-1 Prepayment Distribution
Trigger. . . . . . . . . . . . . . . . . . 10
Class B-2 Percentage. . . . . . . . . . . . . . . 10
Class B-2 Prepayment Distribution
Trigger. . . . . . . . . . . . . . . . . . 10
Class B-3 Percentage. . . . . . . . . . . . . . . 10
Class B-3 Prepayment Distribution
Trigger. . . . . . . . . . . . . . . . . . 11
Class M Certificate . . . . . . . . . . . . . . . 11
Class M Percentage. . . . . . . . . . . . . . . . 11
Class M-1 Percentage. . . . . . . . . . . . . . . 11
Class M-2 Percentage. . . . . . . . . . . . . . . 11
Class M-2 Prepayment Distribution
Trigger. . . . . . . . . . . . . . . . . . 11
Class M-3 Percentage. . . . . . . . . . . . . . . 11
Class M-3 Prepayment Distribution
Trigger. . . . . . . . . . . . . . . . . . 12
Class R Certificate . . . . . . . . . . . . . . . 12
Closing Date. . . . . . . . . . . . . . . . . . . 12
Code. . . . . . . . . . . . . . . . . . . . . . . 12
Compensating Interest . . . . . . . . . . . . . . 12
Corporate Trust Office. . . . . . . . . . . . . . 12
Credit Support Depletion Date . . . . . . . . . . 12
Curtailment . . . . . . . . . . . . . . . . . . . 12
Custodial Account . . . . . . . . . . . . . . . . 12
Custodial Agreement . . . . . . . . . . . . . . . 12
Custodian . . . . . . . . . . . . . . . . . . . . 12
Cut-off Date. . . . . . . . . . . . . . . . . . . 13
Cut-off Date Principal Balance. . . . . . . . . . 13
Debt Service Reduction. . . . . . . . . . . . . . 13
Default Loss. . . . . . . . . . . . . . . . . . . 13
Deficient Valuation . . . . . . . . . . . . . . . 13
Definitive Certificate. . . . . . . . . . . . . . 13
Deleted Mortgage Loan . . . . . . . . . . . . . . 13
Depository. . . . . . . . . . . . . . . . . . . . 13
Depository Participant. . . . . . . . . . . . . . 13
Designated Seller's Agreement . . . . . . . . . . 13
Destroyed Mortgage Note . . . . . . . . . . . . . 13
Determination Date. . . . . . . . . . . . . . . . 14
Discount Fraction . . . . . . . . . . . . . . . . 14
Discount Mortgage Loan. . . . . . . . . . . . . . 14
Disqualified Organization . . . . . . . . . . . . 14
Distribution Date . . . . . . . . . . . . . . . . 14
Due Date. . . . . . . . . . . . . . . . . . . . . 14
Due Period. . . . . . . . . . . . . . . . . . . . 14
Eligible Account. . . . . . . . . . . . . . . . . 14
Eligible Funds. . . . . . . . . . . . . . . . . . 15
Event of Default. . . . . . . . . . . . . . . . . 15
Excess Bankruptcy Loss. . . . . . . . . . . . . . 15
Excess Fraud Loss . . . . . . . . . . . . . . . . 15
Excess Special Hazard Loss. . . . . . . . . . . . 15
Excess Subordinate Principal Amount . . . . . . . 15
Extraordinary Events. . . . . . . . . . . . . . . 16
Extraordinary Losses. . . . . . . . . . . . . . . 16
FDIC. . . . . . . . . . . . . . . . . . . . . . . 16
FHLMC . . . . . . . . . . . . . . . . . . . . . . 16
Final Distribution Date . . . . . . . . . . . . . 17
Fitch . . . . . . . . . . . . . . . . . . . . . . 17
FNMA. . . . . . . . . . . . . . . . . . . . . . . 17
Foreclosure Profits . . . . . . . . . . . . . . . 17
Fraud Loss Amount . . . . . . . . . . . . . . . . 17
Fraud Losses. . . . . . . . . . . . . . . . . . . 17
Independent . . . . . . . . . . . . . . . . . . . 18
Initial Certificate Principal Balance . . . . . . 18
Insurance Proceeds. . . . . . . . . . . . . . . . 18
Insurer . . . . . . . . . . . . . . . . . . . . . 18
Late Collections. . . . . . . . . . . . . . . . . 18
Liquidation Proceeds. . . . . . . . . . . . . . . 18
Loan-to-Value Ratio . . . . . . . . . . . . . . . 18
Maturity Date . . . . . . . . . . . . . . . . . . 18
Monthly Payment . . . . . . . . . . . . . . . . . 18
Moody's . . . . . . . . . . . . . . . . . . . . . 19
Mortgage. . . . . . . . . . . . . . . . . . . . . 19
Mortgage File . . . . . . . . . . . . . . . . . . 19
Mortgage Loan Schedule. . . . . . . . . . . . . . 19
Mortgage Loans. . . . . . . . . . . . . . . . . . 20
Mortgage Note . . . . . . . . . . . . . . . . . . 20
Mortgage Rate . . . . . . . . . . . . . . . . . . 20
Mortgaged Property. . . . . . . . . . . . . . . . 20
Mortgagor . . . . . . . . . . . . . . . . . . . . 20
Net Mortgage Rate . . . . . . . . . . . . . . . . 20
Non-Discount Mortgage Loan. . . . . . . . . . . . 20
Non-Primary Residence Loans . . . . . . . . . . . 20
Non-United States Person. . . . . . . . . . . . . 20
Nonrecoverable Advance. . . . . . . . . . . . . . 20
Nonsubserviced Mortgage Loan. . . . . . . . . . . 21
Norwest . . . . . . . . . . . . . . . . . . . . . 21
Officers' Certificate . . . . . . . . . . . . . . 21
Opinion of Counsel. . . . . . . . . . . . . . . . 21
Original Adjusted Senior Percentage . . . . . . . 21
Outstanding Mortgage Loan . . . . . . . . . . . . 21
Ownership Interest. . . . . . . . . . . . . . . . 21
Pass-Through Rate . . . . . . . . . . . . . . . . 21
Paying Agent. . . . . . . . . . . . . . . . . . . 21
Percentage Interest . . . . . . . . . . . . . . . 21
Permitted Investments . . . . . . . . . . . . . . 22
Permitted Transferee. . . . . . . . . . . . . . . 23
Person. . . . . . . . . . . . . . . . . . . . . . 23
Pool Stated Principal Balance . . . . . . . . . . 23
Prepayment Assumption . . . . . . . . . . . . . . 23
Prepayment Distribution Percentage. . . . . . . . 23
Prepayment Distribution Trigger . . . . . . . . . 24
Prepayment Interest Shortfall . . . . . . . . . . 24
Prepayment Period . . . . . . . . . . . . . . . . 25
Primary Insurance Policy. . . . . . . . . . . . . 25
Principal Prepayment. . . . . . . . . . . . . . . 25
Principal Prepayment in Full. . . . . . . . . . . 25
Purchase Price. . . . . . . . . . . . . . . . . . 25
Qualified Substitute Mortgage Loan. . . . . . . . 25
Rating Agency . . . . . . . . . . . . . . . . . . 26
Realized Loss . . . . . . . . . . . . . . . . . . 26
Record Date . . . . . . . . . . . . . . . . . . . 26
Regular Certificate . . . . . . . . . . . . . . . 26
REMIC . . . . . . . . . . . . . . . . . . . . . . 26
REMIC Provisions. . . . . . . . . . . . . . . . . 26
REO Acquisition . . . . . . . . . . . . . . . . . 27
REO Disposition . . . . . . . . . . . . . . . . . 27
REO Imputed Interest. . . . . . . . . . . . . . . 27
REO Proceeds. . . . . . . . . . . . . . . . . . . 27
REO Property. . . . . . . . . . . . . . . . . . . 27
Request for Release . . . . . . . . . . . . . . . 27
Required Insurance Policy . . . . . . . . . . . . 27
Residential Funding . . . . . . . . . . . . . . . 27
Responsible Officer . . . . . . . . . . . . . . . 27
Schedule of Discount Fractions. . . . . . . . . . 27
Seller. . . . . . . . . . . . . . . . . . . . . . 28
Senior Percentage . . . . . . . . . . . . . . . . 28
Senior Principal Distribution Amount. . . . . . . 28
Senior Support Certificates . . . . . . . . . . . 28
Senior Support Percentage . . . . . . . . . . . . 28
Servicing Accounts. . . . . . . . . . . . . . . . 28
Servicing Advances. . . . . . . . . . . . . . . . 28
Servicing Fee . . . . . . . . . . . . . . . . . . 28
Servicing Officer . . . . . . . . . . . . . . . . 28
Special Hazard Amount . . . . . . . . . . . . . . 29
Special Hazard Loss . . . . . . . . . . . . . . . 29
Spread. . . . . . . . . . . . . . . . . . . . . . 29
Spread Rate . . . . . . . . . . . . . . . . . . . 30
Standard & Poor's . . . . . . . . . . . . . . . . 30
Stated Principal Balance. . . . . . . . . . . . . 30
Subordinate Principal Distribution
Amount . . . . . . . . . . . . . . . . . . 30
Subserviced Mortgage Loan . . . . . . . . . . . . 30
Subservicer . . . . . . . . . . . . . . . . . . . 31
Subservicer Advance . . . . . . . . . . . . . . . 31
Subservicer Remittance Date . . . . . . . . . . . 31
Subservicing Account. . . . . . . . . . . . . . . 31
Subservicing Agreement. . . . . . . . . . . . . . 31
Subservicing Fee. . . . . . . . . . . . . . . . . 31
Super Senior Certificates . . . . . . . . . . . . 31
Super Senior Optimal Percentage . . . . . . . . . 31
Super Senior Optimal Principal
Distribution Amount. . . . . . . . . . . . 31
Tax Returns . . . . . . . . . . . . . . . . . . . 31
Transfer. . . . . . . . . . . . . . . . . . . . . 32
Transferee. . . . . . . . . . . . . . . . . . . . 32
Transferor. . . . . . . . . . . . . . . . . . . . 32
Trust Fund. . . . . . . . . . . . . . . . . . . . 32
Uninsured Cause . . . . . . . . . . . . . . . . . 32
United States Person. . . . . . . . . . . . . . . 32
Voting Rights . . . . . . . . . . . . . . . . . . 32
ARTICLE II
CONVEYANCE OF MORTGAGE LOANS;
ORIGINAL ISSUANCE OF CERTIFICATES
Section 2.01. Conveyance of Mortgage Loans. . . . . 33
Section 2.02. Acceptance by Trustee . . . . . . . . 36
Section 2.03. Representations, Warranties
and Covenants
of the Master Servicer . . . . . . . . . . 37
Section 2.04. Repurchase Obligations and
Substitution. . . . . . . . . . . . . 39
Section 2.05. Execution and Authentication
of Certificates
ARTICLE III
ADMINISTRATION AND SERVICING
OF MORTGAGE LOANS
Section 3.01. Master Servicer to Act as
Servicer. . . . . . . . . . . . . . . 42
Section 3.02. Subservicing Agreements
Between Master Servicer and
Subservicers; Enforcement of
Subservicers' and Sellers'
Obligations . . . . . . . . . . . . . 43
Section 3.03. Successor Subservicers. . . . . . . . 44
Section 3.04. Liability of the Master
Servicer. . . . . . . . . . . . . . . 44
Section 3.05. No Contractual Relationship
Between Subservicer and
Trustee or Certificateholders . . . . 44
Section 3.06. Assumption or Termination of
Subservicing Agreements by
Trustee . . . . . . . . . . . . . . . 45
Section 3.07. Collection of Certain Mortgage
Loan Payments;
Deposits to Custodial Account. . . . . . . 45
Section 3.08. Subservicing Accounts;
Servicing Accounts. . . . . . . . . . 47
Section 3.09. Access to Certain Documentatio
n and Information Regarding
the Mortgage Loans. . . . . . . . . . 48
Section 3.10. Permitted Withdrawals from the
Custodial Account . . . . . . . . . . 49
Section 3.11. Maintenance of the Primary Ins
urance Policies;
Collections Thereunder. . . . . . . . 51
Section 3.12. Maintenance of Fire Insurance
and Omissions and Fidelity
Coverage. . . . . . . . . . . . . . . 51
Section 3.13. Enforcement of Due-on-Sale
Clauses; Assumption and
Modification Agreements;
Certain Assignments . . . . . . . . . 53
Section 3.14. Realization Upon Defaulted
Mortgage Loans. . . . . . . . . . . . 55
Section 3.15. Trustee to Cooperate;
Release of Mortgage Files . . . . . . 57
Section 3.16. Servicing and Other
Compensation. . . . . . . . . . . . . 58
Section 3.17. Reports to the Trustee
and the Company . . . . . . . . . . . 59
Section 3.18. Annual Statement as to
Compliance. . . . . . . . . . . . . . 60
Section 3.19. Annual Independent Public
Accountants' Servicing Report . . . . 60
Section 3.20. Rights of the Company in
Respect of the Master
Servicer. . . . . . . . . . . . . . . 60
Section 3.21. Administration of Buydown
Funds . . . . . . . . . . . . . . . . 61
ARTICLE IV
PAYMENTS TO CERTIFICATEHOLDERS
Section 4.01. Certificate Account . . . . . . . . . 62
Section 4.02. Distributions . . . . . . . . . . . . 62
Section 4.03. Statements to
Certificateholders. . . . . . . . . . 71
Section 4.04. Distribution of Reports to the
Trustee and the Company;
Advances by the Master
Servicer. . . . . . . . . . . . . . . 73
Section 4.05. Allocation of Realized Losses . . . . 75
Section 4.06. Reports of Foreclosures and
Abandonment
of Mortgaged Property. . . . . . . . . . . 76
Section 4.07. Optional Purchase of
Defaulted Mortgage Loans. . . . . . . 76
Section 4.08. Master Servicer Reports to the
Administrator . . . . . . . . . . . . 77
ARTICLE V
THE CERTIFICATES
Section 5.01. The Certificates. . . . . . . . . . . 78
Section 5.02. Registration of Transfer
and Exchange of Certificates. . . . . 80
Section 5.03. Mutilated, Destroyed, Lost
or Stolen Certificates. . . . . . . . 84
Section 5.04. Persons Deemed Owners . . . . . . . . 84
Section 5.05. Appointment of Paying Agent . . . . . 85
Section 5.06. Optional Purchase of
Certificates. . . . . . . . . . . . . 85
ARTICLE VI
THE COMPANY, THE ADMINISTRATOR AND THE MASTER SERVICER
Section 6.01. Respective Liabilities of the
Company, the Administrator
and the Master Servicer. . . . . . . . . . 87
Section 6.02. Merger or Consolidation of the
Company, the Administrator or
the Master Servicer;
Assignment of Rights and
Delegation of Duties by Master
Servicer. . . . . . . . . . . . . . . 87
Section 6.03. Limitation on Liability of the
Company, the Administrator,
the Master Servicer and Others.. . . . . . 88
Section 6.04. Company, the Administrator and
Master Servicer Not to Resign . . . . 89
ARTICLE VII
DEFAULT
Section 7.01. Events of Default . . . . . . . . . . 90
Section 7.02. Trustee or Company to Act;
Appointment of Successor. . . . . . . 92
Section 7.03. Notification to
Certificateholders. . . . . . . . . . 93
Section 7.04. Waiver of Events of Default . . . . . 93
ARTICLE VIII
CONCERNING THE TRUSTEE
Section 8.01. Duties of Trustee . . . . . . . . . . 94
Section 8.02. Certain Matters Affecting the
Trustee . . . . . . . . . . . . . . . 96
Section 8.03. Trustee Not Liable for
Certificates or Mortgage
Loans . . . . . . . . . . . . . . . . 97
Section 8.04. Trustee May Own Certificates. . . . . 97
Section 8.05. Administrator to Pay Trustee's
Fees and Expenses;
Indemnification . . . . . . . . . . . 98
Section 8.06. Eligibility Requirements for
Trustee . . . . . . . . . . . . . . . 99
Section 8.07. Resignation and Removal of the
Trustee . . . . . . . . . . . . . . . 99
Section 8.08. Successor Trustee . . . . . . . . . . 100
Section 8.09. Merger or Consolidation of
Trustee . . . . . . . . . . . . . . . 101
Section 8.10. Appointment of Co-Trustee
or Separate Trustee . . . . . . . . . 101
Section 8.11. Appointment of Custodians . . . . . . 102
Section 8.12. Appointment of Office or
Agency. . . . . . . . . . . . . . . . 102
ARTICLE IX
TERMINATION
Section 9.01. Termination Upon Purchase by
the Master Servicer or the
Company or Liquidation of All
Mortgage Loans. . . . . . . . . . . . 103
Section 9.02. Additional Termination
Requirements. . . . . . . . . . . . . 105
ARTICLE X
REMIC PROVISIONS
Section 10.01. REMIC Administrator . . . . . . . . . 107
Section 10.02. Master Servicer, the
Administrator and Trustee
Indemnification . . . . . . . . . . . 110
ARTICLE XI
MISCELLANEOUS PROVISIONS
Section 11.01. Amendment . . . . . . . . . . . . . . 111
Section 11.02. Recordation of Agreement;
Counterparts. . . . . . . . . . . . . 113
Section 11.03. Limitation on Rights
of Certificateholders . . . . . . . . 113
Section 11.04. Governing Law . . . . . . . . . . . . 114
Section 11.05. Notices . . . . . . . . . . . . . . . 114
Section 11.06. Notices to Rating Agency. . . . . . . 115
Section 11.07. Severability of Provisions. . . . . . 116
Section 11.08. Norwest's Right to Spread
Absolute. . . . . . . . . . . . . . . 116
EXHIBITS
Exhibit A: Form of Class A Certificate
Exhibit B: Form of Class M Certificate
Exhibit C: Form of Class B Certificate
Exhibit D: Form of Class R Certificate
Exhibit E: Form of Custodial Agreement
Exhibit F: Mortgage Loan Schedule
Exhibit G: The Designated Seller Agreement
Exhibit H: Forms of Request for Release
Exhibit I-1: Form of Transfer Affidavit and
Agreement
Exhibit I-2: Form of Transferor Certificate
Exhibit J: Form of Investor Representation Letter
Exhibit K: Form of Transferor Representation
Letter
Exhibit L: Form of Rule 144A Investment
Representation Letter
Exhibit M: Schedule of Discount Fractions
This is a Pooling and Servicing Agreement,
effective as of December 1, 1995, among RESIDENTIAL
FUNDING MORTGAGE SECURITIES I, INC., as the company
(together with its permitted successors and assigns,
the "Company"), NORWEST MORTGAGE, INC., as master
servicer (together with its permitted successors and
assigns, the "Master Servicer"), RESIDENTIAL FUNDING
CORPORATION, as administrator (together with its
permitted successors and assigns, the "Administrator"),
and THE FIRST NATIONAL BANK OF CHICAGO, as trustee
(together with its permitted successors and assigns,
the "Trustee"),
PRELIMINARY STATEMENT:
The Company intends to sell mortgage pass-
through certificates (collectively, the
"Certificates"), to be issued hereunder in multiple
classes, which in the aggregate will evidence the
entire beneficial ownership interest in the Mortgage
Loans (as defined herein). As provided herein, the
Administrator will make an election to treat the
segregated pool of assets described in the definition
of Trust Fund (as defined herein), and subject to this
Agreement (including the Mortgage Loans exclusive of
Spread), as a real estate mortgage investment conduit
(a "REMIC") for federal income tax purposes and such
segregated pool of assets will be designated as the
"Trust Fund." The Class A-1, Class A-2, Class A-3,
Class A-4, Class A-5, Class A-6, Class A-7, Class A-8,
Class A-9, Class A-10, Class A-11, Class M-1, Class M-2
, Class M-3, Class B-1, Class B-2, and Class B-3
Certificates will represent ownership of "regular
interests" in the Trust Fund, and the Class R
Certificates will be the sole class of "residual
interests" therein for purposes of the REMIC Provisions
(as defined herein) under federal income tax law.
The following table sets forth the
designation, type, Pass-Through Rate, aggregate Initial
Certificate Principal Balance, Maturity Date, initial
ratings and certain features for each Class of
Certificates comprising the interests in the Trust Fund
created hereunder.
Aggregate
Initial
Pass- Certificate
Through Principal
Designation Type Rate Balance
Class A-1 Senior 7.50% $17,500,000.00
Class A-2 Senior 7.50% $73,285,445.00
Class A-3 Senior 7.50% $7,765,738.00
Class A-4 Senior 7.50% $33,673,000.00
Class A-5 Senior 7.50% $30,185,181.00
Class A-6 Senior 7.50% $19,608,650.00
Class A-7 Senior 7.50% $2,775,000.00
Class A-8 Senior 7.50% $1,030,000.00
Class A-9 Senior 7.50% $1,986,000.00
Class A-10 Senior 7.50% $114,042,695.00
Class A-11 Senior 0.00% $3,268,319.71
Class R Senior 7.50% $100.00
Class M-1 Mezzanine 7.50% $7,342,463.00
Class M-2 Mezzanine 7.50% $5,710,804.00
Class M-3 Mezzanine 7.50% $3,263,317.00
Class B-1 Subordinate 7.50% $1,794,824.00
Class B-2 Subordinate 7.50% $1,142,161.00
Class B-3 Subordinate 7.50% $1,957,990.76
Maturity Initial Ratings
Designation Features Date S&P Fitch
Class A-1 Super Senior December 25, 2025 AAA AAA
Class A-2 Super Senior December 25, 2025 AAA AAA
Class A-3 Super Senior December 25, 2025 AAA AAA
Class A-4 Super Senior December 25, 2025 AAA AAA
Class A-5 Senior
Support December 25, 2025 AAA AAA
Class A-6 Super Senior December 25, 2025 AAA AAA
Class A-7 Super Senior December 25, 2025 AAA AAA
Class A-8 Super Senior December 25, 2025 AAA AAA
Class A-9 Super Senior December 25, 2025 AAA AAA
Class A-10 Super Senior December 25, 2025 AAA AAA
Class A-11 Principal
Only/Senior December 25, 2025 AAAr AAA
Class R Residual/
Super Senior December 25, 2025 AAA AAA
Class M-1 Mezzanine December 25, 2025 AA AA
Class M-2 Mezzanine December 25, 2025 N/A A
Class M-3 Mezzanine December 25, 2025 N/A BBB
Class B-1 Subordinate December 25, 2025 N/A BB
Class B-2 Subordinate December 25, 2025 B B
Class B-3 Subordinate December 25, 2025 N/A N/A
The Mortgage Loans have an aggregate Cut-off Date
Principal Balance equal to $326,331,688.47. The
Mortgage Loans are fixed rate mortgage loans having
terms to maturity at origination or modification of not
more than 30 years.
In consideration of the mutual agreements herein
contained, the Company, the Master Servicer, the
Administrator and the Trustee agree as follows:
ARTICLE I
DEFINITIONS
Section 1.01. Definitions.
Whenever used in this Agreement, the following
words and phrases, unless the context otherwise
requires, shall have the meanings specified in this
Article.
Accrued Certificate Interest: With respect
to each Distribution Date, as to any Class A
Certificate (other than the Class A-11 Certificates,
which are not entitled to distributions of interest)
any Class M Certificate, any Class B Certificate or any
Class R Certificate, one month's interest accrued at
the related Pass-Through Rate on the Certificate
Principal Balance thereof immediately prior to such
Distribution Date. Accrued Certificate Interest will
be calculated on the basis of a 360-day year consisting
of twelve 30-day months. In each case Accrued
Certificate Interest on any Class of Certificates will
be reduced by the amount of (i) Prepayment Interest
Shortfalls (to the extent not offset by the Master
Servicer with a payment of Compensating Interest as
provided in Section 4.01), (ii) the interest portion
(adjusted to the Net Mortgage Rate) of Realized Losses
(including Excess Special Hazard Losses, Excess Fraud
Losses, Excess Bankruptcy Losses and Extraordinary
Losses) not allocated solely to one or more specific
Classes of Certificates pursuant to Section 4.05, (iii)
the interest portion of Advances previously made with
respect to a Mortgage Loan or REO Property which
remained unreimbursed following the Cash Liquidation or
REO Disposition of such Mortgage Loan or REO Property
that were made with respect to delinquencies that were
ultimately determined to be Excess Special Hazard
Losses, Excess Fraud Losses, Excess Bankruptcy Losses
or Extraordinary Losses and (iv) any other interest
shortfalls not covered by the subordination provided by
the Class M Certificates and Class B Certificates,
including interest that is not collectible from the
Mortgagor pursuant to the Soldiers' and Sailors' Civil
Relief Act of 1940, as amended, or similar legislation
or regulations as in effect from time to time, with all
such reductions allocated among all of the Certificates
in proportion to their respective amounts of Accrued
Certificate Interest payable on such Distribution Date
which would have resulted absent such reductions. In
addition to that portion of the reductions described in
the second preceding sentence that are allocated to any
Class of Class B Certificates or any Class of Class M
Certificates, Accrued Certificate Interest on such
Class of Class B Certificates or such Class of Class M
Certificates will be reduced by the interest portion
(adjusted to the Net Mortgage Rate) of Realized Losses
that are allocated solely to such Class of Class B
Certificates or such Class of Class M Certificates
pursuant to Section 4.05. The Class A-11 Certificates
receive no distributions of Accrued Certificate
Interest.
Adjusted Mortgage Rate: With respect to any
Mortgage Loan and any date of determination, the
Mortgage Rate borne by the related Mortgage Note, less
the rate at which the related Subservicing Fee accrues.
Adjusted Senior Accelerated Distribution
Percentage: With respect to any Distribution Date, the
percentage indicated below:
Adjusted Senior Accelerated
Distribution Date Distribution Percentage
January 1996 through
December 2001...............100%
January 2002 through
December 2002...............Adjusted Senior Percentage,
plus 70% of the sum of the
Subordinate Percentage and
the Senior Support
Percentage
January 2003 through
December 2003..............Adjusted Senior Percentage,
plus 60% of the sum of the
Subordinate Percentage and
the Senior Support
Percentage
January 2004 through
December 2004.............Adjusted Senior Percentage,
plus 40% of the sum of the
Subordinate Percentage and
the Senior Support Percentage
January 2004 through
December 2005.............Adjusted Senior Percentage,
plus 20% of the sum of the
Subordinate Percentage and
the Senior Support Percentage
January 2006 and
thereafter................Adjusted Senior Percentage
provided, however, (i) that any scheduled reduction to
the Adjusted Senior Accelerated Distribution Percentage
described above shall not occur as of any Distribution
Date unless either (a)(1)(x) the outstanding principal
balance of the Mortgage Loans delinquent 60 days or
more averaged over the last six months, as a percentage
of the aggregate outstanding Certificate Principal
Balance of the sum of the Class M Certificates and
Class B Certificates averaged over the last six months,
is less than 50% or (y) the outstanding principal
balance of Mortgage Loans delinquent 60 days or more
averaged over the last six months, as a percentage of
the aggregate outstanding principal balance of all
Mortgage Loans averaged over the last six months, does
not exceed 2% and (2) Realized Losses on the Mortgage
Loans to date for such Distribution Date if occurring
during the sixth, seventh, eighth, ninth or tenth year
(or any year thereafter) after the Closing Date are
less than 30%, 35%, 40%, 45% or 50%, respectively, of
the sum of the Initial Certificate Principal Balances
of the Class M Certificates and Class B Certificates or
(b)(1) the outstanding principal balance of the
Mortgage Loans delinquent 60 days or more averaged over
the last six months, as a percentage of the aggregate
outstanding principal balance of all Mortgage Loans
averaged over the last six months, does not exceed 4%
and (2) Realized Losses on the Mortgage Loans to date
for any Distribution Date are less than 10% of the sum
of the Initial Certificate Principal Balances of the
Class M Certificates and Class B Certificates and (ii)
that for any Distribution Date on which the Adjusted
Senior Percentage is greater than the Original Adjusted
Senior Percentage, the Adjusted Senior Accelerated
Distribution Percentage for such Distribution Date
shall be 100%. Notwithstanding the foregoing, upon the
reduction of the aggregate Certificate Principal
Balance of the Class A Certificates (other than the
Certificate Principal Balance of the Class A-5 and the
Class A-11 Certificates) and Class R Certificates to
zero, the Adjusted Senior Accelerated Distribution
Percentage shall thereafter be 0%.
Adjusted Senior Percentage: As of any
Distribution Date, the percentage equal to the
aggregate Certificate Principal Balance of the Senior
Certificates (other than the Certificate Principal
Balance of the Class A-5 Certificates and Class A-11
Certificates) immediately prior to such Distribution
Date divided by the aggregate Stated Principal Balance
of all of the Mortgage Loans (other than the Discount
Fraction of the Discount Mortgage Loans) immediately
prior to such Distribution Date.
Administration Fee: The fee payable to the
Administrator on each Distribution Date in an amount
equal to one-twelfth of the product of the
Administration Fee Rate and the aggregate of the Stated
Principal Balances of the Mortgage Loans as of the
related Due Date.
Administration Fee Rate: 0.02% per annum.
Administration Officer: Any officer of the
Administrator involved in, or responsible for, the
administrator's duties hereunder whose name and
specimen signature appear on a list of Administration
officers furnished to the Trustee by the Administrator,
as such list may from time to time be amended.
Administrator: Residential Funding
Corporation.
Advance: As to any Mortgage Loan, any
advance made by the Master Servicer, pursuant to
Section 4.04.
Affiliate: With respect to any Person, any
other Person controlling, controlled by or under common
control with such first Person. For the purposes of
this definition, "control" means the power to direct
the management and policies of such Person, directly or
indirectly, whether through the ownership of voting
securities, by contract or otherwise; and the terms
"controlling" and "controlled" have meanings
correlative to the foregoing.
Agreement: This Pooling and Servicing
Agreement and all amendments hereof and supplements
hereto.
Amount Held for Future Distribution: As to
any Distribution Date, the total of the amounts held in
the Custodial Account at the close of business on the
preceding Determination Date on account of (i)
Liquidation Proceeds, Insurance Proceeds, Principal
Prepayments, Mortgage Loan purchases made pursuant to
Section 2.02, 2.03 or 2.04 and Mortgage Loan
substitutions made pursuant to Section 2.03 or 2.04
received or made in the month of such Distribution Date
(other than such Liquidation Proceeds, Insurance
Proceeds and purchases of Mortgage Loans that the
Master Servicer has deemed to have been received in the
preceding month in accordance with Section 3.07(b)) and
(ii) payments which represent early receipt of
scheduled payments of principal and interest due on a
date or dates subsequent to the related Due Date.
Appraised Value: As to any Mortgaged
Property, the lesser of (i) the appraised value of such
Mortgaged Property based upon the appraisal made at the
time of the origination of the related Mortgage Loan,
and (ii) the sales price of the Mortgaged Property at
such time of origination, except in the case of a
Mortgaged Property securing a refinanced or modified
Mortgage Loan, in which case such value shall be based
solely on the appraisal made in connection with the
origination of such Mortgage Loan.
Assignment: An assignment of the Mortgage,
notice of transfer or equivalent instrument, in
recordable form, sufficient under the laws of the
jurisdiction wherein the related Mortgaged Property is
located to reflect of record the sale of the Mortgage
Loan to the Trustee for the benefit of
Certificateholders, which assignment, notice of
transfer or equivalent instrument may be in the form of
one or more blanket assignments covering Mortgages
secured by Mortgaged Properties located in the same
county, if permitted by law and accompanied by an
Opinion of Counsel to that effect.
Available Distribution Amount: As to any
Distribution Date, an amount equal to (a) the sum of
(i) the amount relating to the Mortgage Loans on
deposit in the Custodial Account as of the close of
business on the immediately preceding Determination
Date exclusive of the Spread and amounts deposited in
the Custodial Account in connection with the
substitution of Qualified Substitute Mortgage Loans,
(ii) the amount of any Advance made on the immediately
preceding Certificate Account Deposit Date, (iii) any
amount deposited in the Custodial Account pursuant to
Section 3.12(a) and (iv) any amount deposited in the
Certificate Account pursuant to Section 4.07, reduced
by (b) the sum as of the close of business on the
immediately preceding Determination Date of (w)
aggregate Foreclosure Profits, (x) the Amount Held for
Future Distribution, and (y) amounts permitted to be
withdrawn by the Master Servicer from the Custodial
Account in respect of the Mortgage Loans pursuant to
clauses (ii)-(x), inclusive, of Section 3.10(a).
Bankruptcy Amount: As of any date of
determination prior to the first anniversary of the
Cut-off Date, an amount equal to the excess, if any, of
(A) $126,853 over (B) the aggregate amount of
Bankruptcy Losses allocated solely to one or more
specific Classes of Certificates in accordance with
Section 4.05. As of any date of determination on or
after the first anniversary of the Cut-off Date, an
amount equal to the excess, if any, of (1) the lesser
of (a) the Bankruptcy Amount calculated as of the close
of business on the Business Day immediately preceding
the most recent anniversary of the Cut-off Date
coinciding with or preceding such date of determination
(or, if such date of determination is an anniversary of
the Cut-off Date, the Business Day immediately
preceding such date of determination) (for purposes of
this definition, the "Relevant Anniversary") and (b)
the greater of
(A) the greater of (i) 0.0006 times the
aggregate principal balance of all the Mortgage
Loans in the Mortgage Pool as of the Relevant
Anniversary having a Loan-to-Value Ratio at
origination which exceeds 75% and (ii) $100,000;
and (B) the greater of (i) the product of (x) an
amount equal to the largest difference in the
related Monthly Payment for any Non-Primary
Residence Loan remaining in the Mortgage Pool
which had an original Loan-to-Value Ratio of 80%
or greater that would result if the Net Mortgage
Rate thereof was equal to the weighted average
(based on the principal balance of the Mortgage
Loans as of the Relevant Anniversary) of the Net
Mortgage Rates of all Mortgage Loans as of the
Relevant Anniversary less 1.25% per annum, (y) a
number equal to the weighted average remaining
term to maturity, in months, of all Non-Primary
Residence Loans remaining in the Mortgage Pool as
of the Relevant Anniversary, and (z) one plus the
quotient of the number of all Non-Primary
Residence Loans remaining in the Mortgage Pool
divided by the total number of Outstanding
Mortgage Loans in the Mortgage Pool as of the
Relevant Anniversary, and (ii) $50,000,
over (2) the aggregate amount of Bankruptcy Losses
allocated solely to one or more specific Classes of
Certificates in accordance with Section 4.05 since the
Relevant Anniversary.
The Bankruptcy Amount may be further reduced by
the Master Servicer (including accelerating the manner
in which such coverage is reduced) provided that prior
to any such reduction, the Master Servicer shall (i)
obtain written confirmation from each Rating Agency
that such reduction shall not reduce the rating
assigned to any Class of Certificates by such Rating
Agency below the lower of the then-current rating or
the rating assigned to such Certificates as of the
Closing Date by such Rating Agency and (ii) provide a
copy of such written confirmation to the Trustee.
Bankruptcy Code: The Bankruptcy Code of
1978, as amended.
Bankruptcy Loss: With respect to any
Mortgage Loan, a Deficient Valuation or Debt Service
Reduction; provided, however, that neither a Deficient
Valuation nor a Debt Service Reduction shall be deemed
a Bankruptcy Loss hereunder so long as the Master
Servicer has notified the Trustee in writing that the
Master Servicer is diligently pursuing any remedies
that may exist in connection with the representations
and warranties made regarding the related Mortgage Loan
and either (A) the related Mortgage Loan is not in
default with regard to payments due thereunder or (B)
delinquent payments of principal and interest under the
related Mortgage Loan and any premiums on any
applicable primary hazard insurance policy and any
related escrow payments in respect of such Mortgage
Loan are being advanced on a current basis by the
Master Servicer or a Subservicer, in either case
without giving effect to any Debt Service Reduction.
Book-Entry Certificate: Any Certificate
registered in the name of the Depository or its
nominee.
Business Day: Any day other than (i) a
Saturday or a Sunday or (ii) a day on which banking
institutions in the State of New York, the State of
Minnesota, the State of California or the State of Iowa
(and such other state or states in which the Custodial
Account or the Certificate Account are at the time
located) are required or authorized by law or executive
order to be closed.
Buydown Funds: Any amount contributed by the
seller of a Mortgaged Property, the Company or other
source in order to enable the Mortgagor to reduce the
payments required to be made from the Mortgagor's funds
in the early years of a Mortgage Loan. Buydown Funds
are not part of the Trust Fund prior to deposit into
the Custodial or Certificate Account.
Buydown Mortgage Loan: Any Mortgage Loan as
to which a specified amount of interest is paid out of
related Buydown Funds in accordance with a related
buydown agreement.
Cash Liquidation: As to any defaulted
Mortgage Loan other than a Mortgage Loan as to which an
REO Acquisition occurred, a determination by the Master
Servicer that it has received all Insurance Proceeds,
Liquidation Proceeds and other payments or cash
recoveries which the Master Servicer reasonably and in
good faith expects to be finally recoverable with
respect to such Mortgage Loan.
Certificate: Any Class A Certificate, Class
M Certificate, Class B Certificate or Class R
Certificate.
Certificate Account: The account or accounts
created and maintained pursuant to Section 4.01, which
shall be entitled "The First National Bank of Chicago,
as trustee, in trust for the registered holders of
Residential Funding Mortgage Securities I, Inc.,
Mortgage Pass-Through Certificates, Series 1995-R20"
and which must be an Eligible Account.
Certificate Account Deposit Date: As to any
Distribution Date, the Business Day prior thereto.
Certificateholder or Holder: The Person in
whose name a Certificate is registered in the
Certificate Register, except that neither a
Disqualified Organization nor a Non-United States
Person shall be a holder of a Class R Certificate for
purposes hereof and, solely for the purpose of giving
any consent or direction pursuant to this Agreement,
any Certificate, other than a Class R Certificate,
registered in the name of the Company, the Master
Servicer or any Subservicer or any Affiliate thereof
shall be deemed not to be outstanding and the
Percentage Interest or Voting Rights evidenced thereby
shall not be taken into account in determining whether
the requisite amount of Percentage Interests or Voting
Rights necessary to effect any such consent or
direction has been obtained. All references herein to
"Holders" or "Certificateholders" shall reflect the
rights of Certificate Owners as they may indirectly
exercise such rights through the Depository and
participating members thereof, except as otherwise
specified herein; provided, however, that the Trustee
shall be required to recognize as a "Holder" or
"Certificateholder" only the Person in whose name a
Certificate is registered in the Certificate Register.
Certificate Owner: With respect to a Book-
Entry Certificate, the Person who is the beneficial
owner of such Certificate, as reflected on the books of
an indirect participating brokerage firm for which a
Depository Participant acts as agent, if any, and
otherwise on the books of a Depository Participant, if
any, and otherwise on the books of the Depository.
Certificate Principal Balance: With respect
to each Class A Certificate and Class R Certificate, on
any date of determination, an amount equal to (i) the
Initial Certificate Principal Balance of such
Certificate as specified on the face thereof, minus
(ii) the sum of (x) the aggregate of all amounts
previously distributed with respect to such Certificate
(or any predecessor Certificate) and applied to reduce
the Certificate Principal Balance or amount thereof
pursuant to Section 4.02(a) and (y) the aggregate of
all reductions in Certificate Principal Balance deemed
to have occurred in connection with Realized Losses
which were previously allocated to such Certificate (or
any predecessor Certificate), pursuant to Section 4.05.
With respect to each Class M Certificate, on any date
of determination, an amount equal to (i) the Initial
Certificate Principal Balance of such Class M
Certificate as specified on the face thereof, minus
(ii) the sum of (x) the aggregate of all amounts
previously distributed with respect to such Certificate
(or any predecessor Certificate) and applied to reduce
the Certificate Principal Balance thereof pursuant to
Section 4.02(a) and (y) the aggregate of all reductions
in Certificate Principal Balance deemed to have
occurred in connection with Realized Losses which were
previously allocated to such Certificate (or any
predecessor Certificate) pursuant to Section 4.05;
provided, that if the Certificate Principal Balances of
the Class B Certificates have been reduced to zero, the
Certificate Principal Balance of each Class M
Certificate of those Class M Certificates outstanding
with the highest numerical designation at any given
time shall thereafter be calculated to equal the
Percentage Interest evidenced by such Certificate times
the excess, if any, of (A) the then aggregate Stated
Principal Balance of the Mortgage Loans over (B) the
then aggregate Certificate Principal Balance of all
other Classes of Certificates then outstanding. With
respect to each Class B Certificate, on any date of
determination, an amount equal to (i) the Initial
Certificate Principal Balance of such Class B
Certificate as specified on the face thereof, minus
(ii) the sum of (x) the aggregate of all amounts
previously distributed with respect to such Certificate
(or any predecessor Certificate) and applied to reduce
the Certificate Principal Balance thereof pursuant to
Section 4.02(a) and (y) the aggregate of all reductions
in Certificate Principal Balance deemed to have
occurred in connection with Realized Losses which were
previously allocated to such Certificate (or any
predecessor Certificate) pursuant to Section 4.05;
provided, that the Certificate Principal Balance of
each Class B Certificate of those Class B Certificates
outstanding with the highest numerical designation at
any given time shall be calculated to equal the
Percentage Interest evidenced by such Certificate times
the excess, if any, of (A) the then aggregate Stated
Principal Balance of the Mortgage Loans over (B) the
then aggregate Certificate Principal Balance of all
other Classes of Certificates then outstanding.
Certificate Register and Certificate
Registrar: The register maintained and the registrar
appointed pursuant to Section 5.02.
Class: Collectively, all of the Certificates
bearing the same designation.
Class A Certificate: Any one of the Class A-
1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-
6, Class A-7, Class A-8, Class A-9, Class A-10 or Class
A-11 Certificates, executed by the Trustee and
authenticated by the Certificate Registrar
substantially in the form annexed hereto as Exhibit A,
each such Certificate evidencing an interest designated
as a "regular interest" in the Trust Fund for purposes
of the REMIC Provisions.
Class A-11 Collection Shortfall: With
respect to the Final Disposition of a Discount Mortgage
Loan and any Distribution Date, the excess, if any, of
the amount described in Section 4.02(b)(i)(C)(1) over
the amount described in Section 4.02(b)(i)(C)(2).
Class A-11 Principal Distribution Amount: As
defined in Section 4.02(b)(i).
Class B Certificate: Any one of the Class B-
1 Certificates, Class B-2 Certificates or Class B-3
Certificates executed by the Trustee and authenticated
by the Certificate Registrar substantially in the form
annexed hereto as Exhibit C and evidencing an interest
designated as a "regular interest" in the Trust Fund
for purposes of the REMIC Provisions.
Class B Percentage: The Class B-1
Percentage, Class B-2 Percentage and Class B-3
Percentage.
Class B-1 Percentage: With respect to any
Distribution Date, a fraction, expressed as a
percentage, the numerator of which is the aggregate
Certificate Principal Balance of the Class B-1
Certificates immediately prior to such date and the
denominator of which is the aggregate Stated Principal
Balance of all of the Mortgage Loans (or related REO
Properties) (other than the related Discount Fraction
of each Discount Mortgage Loan) immediately prior to
such Distribution Date.
Class B-1 Prepayment Distribution Trigger:
With respect to any Distribution Date, a test that
shall be satisfied if the fraction (expressed as a
percentage) equal to the sum of the Certificate
Principal Balances of the Class B-1 Certificates, Class
B-2 Certificates and Class B-3 Certificates immediately
prior to such Distribution Date divided by the
aggregate Stated Principal Balance of all of the
Mortgage Loans (or related REO Properties) immediately
prior to such Distribution Date is greater than or
equal to 1.50%.
Class B-2 Percentage: With respect to any
Distribution Date, a fraction, expressed as a
percentage, the numerator of which is the aggregate
Certificate Principal Balance of the Class B-2
Certificates immediately prior to such date and the
denominator of which is the aggregate Stated Principal
Balance of all of the Mortgage Loans (or related REO
Properties) (other than the related Discount Fraction
of each Discount Mortgage Loan) immediately prior to
such Distribution Date.
Class B-2 Prepayment Distribution Trigger:
With respect to any Distribution Date, a test that
shall be satisfied if the fraction (expressed as a
percentage) equal to the sum of the Certificate
Principal Balances of the Class B-2 Certificates and
Class B-3 Certificates immediately prior to such
Distribution Date divided by the aggregate Stated
Principal Balance of all of the Mortgage Loans (or
related REO Properties) immediately prior to such
Distribution Date is greater than or equal to 0.95%.
Class B-3 Percentage: With respect to any
Distribution Date, a fraction expressed as a
percentage, the numerator of which is the aggregate
Certificate Principal Balance of the Class B-3
Certificates immediately prior to such date and the
denominator of which is the aggregate Stated Principal
Balance of all the Mortgage Loans (or related REO
Properties) (other than the related Discount Fraction
of each Discount Mortgage Loan) immediately prior to
such Distribution Date.
Class B-3 Prepayment Distribution Trigger:
With respect to any Distribution Date, a test that
shall be satisfied if the fraction (expressed as a
percentage) equal to the sum of the Certificate
Principal Balances of the Class B-3 Certificates
immediately prior to such Distribution Date divided by
the aggregate Stated Principal Balance of all of the
Mortgage Loans (or related REO Properties) immediately
prior to such Distribution Date is greater than or
equal to 0.60%.
Class M Certificate: Any one of the Class M-
1 Certificates, Class M-2 Certificates or Class M-3
Certificates executed by the Trustee and authenticated
by the Certificate Registrar substantially in the form
annexed hereto as Exhibit B and evidencing an interest
designated as a "regular interest" in the Trust Fund
for purposes of the REMIC Provisions.
Class M Percentage: The Class M-1
Percentage, Class M-2 Percentage and Class M-3
Percentage.
Class M-1 Percentage: With respect to any
Distribution Date, a fraction, expressed as a
percentage, the numerator of which is the aggregate
Certificate Principal Balance of the Class M-1
Certificates immediately prior to such date and the
denominator of which is the aggregate Stated Principal
Balance of all of the Mortgage Loans (or related REO
Properties) (other than the related Discount Fraction
of each Discount Mortgage Loan) immediately prior to
such Distribution Date.
Class M-2 Percentage: With respect to any
Distribution Date, a fraction, expressed as a
percentage, the numerator of which is the aggregate
Certificate Principal Balance of the Class M-2
Certificates immediately prior to such date and the
denominator of which is the aggregate Stated Principal
Balance of all of the Mortgage Loans (or related REO
Properties) (other than the related Discount Fraction
of each Discount Mortgage Loan) immediately prior to
such Distribution Date.
Class M-2 Prepayment Distribution Trigger:
With respect to any Distribution Date, a test that
shall be satisfied if the fraction (expressed as a
percentage) equal to the sum of the Certificate
Principal Balances of the Class M-2 Certificates, Class
M-3 Certificates, Class B-1 Certificates, Class B-2
Certificates and Class B-3 Certificates immediately
prior to such Distribution Date divided by the
aggregate Stated Principal Balance of all of the
Mortgage Loans (or related REO Properties) (immediately
prior to such Distribution Date is greater than or
equal to 4.25%.
Class M-3 Percentage: With respect to any
Distribution Date, a fraction, expressed as a
percentage, the numerator of which is the aggregate
Certificate Principal Balance of the Class M-3
Certificates immediately prior to such date and the
denominator of which is the aggregate Stated Principal
Balance of all of the Mortgage Loans (or related REO
Properties) (other than the related Discount Fraction
of each Discount Mortgage Loan) immediately prior to
such Distribution Date.
Class M-3 Prepayment Distribution Trigger:
With respect to any Distribution Date, a test that
shall be satisfied if the fraction (expressed as a
percentage) equal to the sum of the Certificate
Principal Balances of the Class M-3 Certificates, Class
B-1 Certificates, Class B-2 Certificates and Class B-3
Certificates immediately prior to such Distribution
Date divided by the aggregate Stated Principal Balance
of all of the Mortgage Loans (or related REO
Properties) immediately prior to such Distribution Date
is greater than or equal to 2.50%.
Class R Certificate: Any one of the Class R
Certificates executed by the Trustee and authenticated
by the Certificate Registrar substantially in the form
annexed hereto as Exhibit D and evidencing an interest
designated as a "residual interest" in the Trust Fund
for purposes of the REMIC Provisions.
Closing Date: December 13, 1995.
Code: The Internal Revenue Code of 1986.
Compensating Interest: With respect to any
Distribution Date, an amount equal to Prepayment
Interest Shortfalls resulting from Principal
Prepayments in Full during the related Prepayment
Period, but not more than the Servicing Fee; provided
that for purposes of this definition the amount of the
Servicing Fee will not be reduced pursuant to Section
7.02 except as may be required pursuant to the last
sentence of such Section.
Corporate Trust Office: The principal
corporate trust office of the Trustee at which, at any
particular time, its corporate trust business shall be
administered, which office at the date hereof is
located at One First National Plaza, Suite 0126,
Chicago, Illinois 60670-0126, Attention: Corporate
Trust Services Division, except that for purposes of
Section 8.12, such term shall mean the office or agency
of the Trustee in the Borough of Manhattan, the City of
New York, which office at the date hereof is located at
14 Wall Street, Eighth Floor, New York, New York 10005.
Credit Support Depletion Date: The first
Distribution Date on which the Senior Percentage equals
100%.
Curtailment: Any Principal Prepayment made
by a Mortgagor which is not a Principal Prepayment in
Full.
Custodial Account: The custodial account or
accounts created and maintained pursuant to Section
3.07 which shall be entitled "Norwest Mortgage, Inc.,
as Master Servicer, in trust for the registered holders
of Residential Funding Mortgage Securities I, Inc.,
Mortgage Pass-Through Certificates, Series 1995-R20",
into which the amounts set forth in Section 3.07 shall
be deposited directly. Any such account or accounts
shall be an Eligible Account.
Custodial Agreement: An agreement that may
be entered into among the Company, the Master Servicer,
the Trustee and a Custodian in substantially the form
of Exhibit E hereto.
Custodian: A custodian appointed pursuant to
a Custodial Agreement.
Cut-off Date: December 1, 1995.
Cut-off Date Principal Balance: As to any
Mortgage Loan, the unpaid principal balance thereof at
the Cut-off Date after giving effect to all
installments of principal due on or prior thereto,
whether or not received.
Debt Service Reduction: With respect to any
Mortgage Loan, a reduction in the scheduled Monthly
Payment for such Mortgage Loan by a court of competent
jurisdiction in a proceeding under the Bankruptcy Code,
except such a reduction constituting a Deficient
Valuation or any reduction that results in a permanent
forgiveness of principal.
Default Loss: With respect to any Mortgage
Loan, a Realized Loss that is attributable to the
Mortgagor's failure to make any payment of principal or
interest as required under the Mortgage Note, not
including Special Hazard Losses, Extraordinary Losses
(or any other loss resulting from damage to the related
Mortgaged Property), Bankruptcy Losses, Fraud Losses
and any other interest shortfalls not covered by the
subordination described in Section 4.05, including
interest that is not collectible from the Mortgagor
pursuant to the Soldiers' and Sailors' Civil Relief Act
of 1940 or similar legislation or regulations as in
effect from time to time.
Deficient Valuation: With respect to any
Mortgage Loan, a valuation by a court of competent
jurisdiction of the Mortgaged Property in an amount
less than the then outstanding indebtedness under the
Mortgage Loan, or any reduction in the amount of
principal to be paid in connection with any scheduled
Monthly Payment that constitutes a permanent
forgiveness of principal, which valuation or reduction
results from a proceeding under the Bankruptcy Code.
Definitive Certificate: Any definitive,
fully registered Certificate.
Deleted Mortgage Loan: A Mortgage Loan
replaced or to be replaced with a Qualified Substitute
Mortgage Loan.
Depository: The Depository Trust Company, or
any successor Depository hereafter named. The nominee
of the initial Depository for purposes of registering
those Certificates that are to be Book-Entry
Certificates is Cede & Co. The Depository shall at all
times be a "clearing corporation" as defined in Section
8-102(3) of the Uniform Commercial Code of the State of
New York and a "clearing agency" registered pursuant to
the provisions of Section 17A of the Securities
Exchange Act of 1934, as amended.
Depository Participant: A broker, dealer,
bank or other financial institution or other Person for
whom from time to time a Depository effects book-entry
transfers and pledges of securities deposited with the
Depository.
Designated Seller's Agreement: The
Designated Seller's Agreement, dated December 13, 1995
between the Company, the Administrator and Norwest
Mortgage, Inc.
Destroyed Mortgage Note: A Mortgage Note the
original of which was permanently lost or destroyed and
has not been replaced.
Determination Date: With respect to any
Distribution Date, the 20th day (or if such 20th day is
not a Business Day, the Business Day immediately
following such 20th day) of the month of the related
Distribution Date.
Discount Fraction: With respect to each
Discount Mortgage Loan, the fraction expressed as a
percentage, the numerator of which is 7.50% minus the
Net Mortgage Rate (or the initial Net Mortgage Rate
with respect to any Discount Mortgage Loans as to which
the Mortgage Rate is modified pursuant to 3.07(a)) for
such Mortgage Loan and the denominator of which is
7.50%. The Discount Fraction with respect to each
Discount Mortgage Loan is set forth on Exhibit P
attached hereto.
Discount Mortgage Loan: Any Mortgage Loan
having a Net Mortgage Rate (or an initial Net Mortgage
Rate) of less than 7.50% and any Mortgage Loan deemed
to be a Discount Mortgage Loan pursuant to the
definition of Qualified Substitute Mortgage Loan.
Disqualified Organization: Any organization
defined as a "disqualified organization" under Section
860E(e)(5) of the Code, which includes any of the
following: (i) the United States, any State or
political subdivision thereof, any possession of the
United States, or any agency or instrumentality of any
of the foregoing (other than an instrumentality which
is a corporation if all of its activities are subject
to tax and, except for the FHLMC, a majority of its
board of directors is not selected by such governmental
unit), (ii) a foreign government, any international
organization, or any agency or instrumentality of any
of the foregoing, (iii) any organization (other than
certain farmers' cooperatives described in Section 521
of the Code) which is exempt from the tax imposed by
Chapter 1 of the Code (including the tax imposed by
Section 511 of the Code on unrelated business taxable
income), (iv) rural electric and telephone cooperatives
described in Section 1381(a)(2)(C) of the Code and (v)
any other Person so designated by the Trustee based
upon an Opinion of Counsel that the holding of an
Ownership Interest in a Class R Certificate by such
Person may cause the Trust Fund or any Person having an
Ownership Interest in any Class of Certificates (other
than such Person) to incur a liability for any federal
tax imposed under the Code that would not otherwise be
imposed but for the Transfer of an Ownership Interest
in a Class R Certificate to such Person. The terms
"United States", "State" and "international
organization" shall have the meanings set forth in
Section 7701 of the Code or successor provisions.
Distribution Date: The 25th day of any month
beginning in the month immediately following the month
of the initial issuance of the Certificates or, if such
25th day is not a Business Day, the Business Day
immediately following such 25th day.
Due Date: With respect to any Distribution
Date, the first day of the month in which such
Distribution Date occurs.
Due Period: With respect to any Distribution
Date, the period commencing on the second day of the
month preceding the month of such Distribution Date and
ending on the related Due Date.
Eligible Account: An account (including an
account maintained at Norwest Bank of Iowa which
otherwise meets the requirements of this definition)
that is any of the following: (i) maintained with a
depository institution the debt obligations of which
have been rated by each Rating Agency in its highest
rating available, or (ii) an account or accounts in a
depository institution in which such accounts are fully
insured to the limits established by the FDIC, provided
that any deposits not so insured shall, to the extent
acceptable to each Rating Agency, as evidenced in
writing, be maintained such that (as evidenced by an
Opinion of Counsel delivered to the Trustee and each
Rating Agency) the registered Holders of Certificates
have a claim with respect to the funds in such account
or a perfected first security interest against any
collateral (which shall be limited to Permitted
Investments) securing such funds that is superior to
claims of any other depositors or creditors of the
depository institution with which such account is
maintained, or (iii) in the case of the Custodial
Account, an account or accounts maintained by the
Master Servicer at Norwest Bank, Iowa at the Corporate
Trust Office of the Trustee, or (iv) in the case of the
Certificate Account, a trust account or accounts
maintained at the Corporate Trust Office of the
Trustee, or (v) an account or accounts of a depository
institution acceptable to each Rating Agency (as
evidenced in writing by each Rating Agency that use of
any such account as the Custodial Account or the
Certificate Account will not reduce the rating assigned
to any Class of Certificates by such Rating Agency
below the lower of the then-current rating or the
rating assigned to such Certificates as of the Closing
Date by such Rating Agency). References herein to the
highest rating available on unsecured long-term debt
shall mean AAA in the case of Fitch and Aaa in the case
of Moody's and references herein to the highest rating
available on unsecured commercial paper and short-term
debt obligations shall mean P-1 in the case of Moody's
or either P-1 by Moody's or F-1+ by Fitch in the case
of Fitch.
Eligible Funds: On any Distribution Date
means the portion, if any, of the Available
Distribution Amount remaining after reduction by the
sum of the Senior Interest Distribution Amount, the
Senior Principal Distribution Amount (determined
without regard to Section 4.02(a)(ii)(Y)(D)), the Class
A-11 Principal Distribution Amount (determined without
regard to Section 4.02(b)(i)(E)) and the aggregate
amount of Accrued Certificate Interest on the Class M
and Class B Certificates.
Event of Default: As defined in Section
7.01.
Excess Bankruptcy Loss: Any Bankruptcy Loss,
or portion thereof, which exceeds the then applicable
Bankruptcy Amount.
Excess Fraud Loss: Any Fraud Loss, or
portion thereof, which exceeds the then applicable
Fraud Loss Amount.
Excess Special Hazard Loss: Any Special
Hazard Loss, or portion thereof, that exceeds the then
applicable Special Hazard Amount.
Excess Subordinate Principal Amount: With
respect to any Distribution Date on which the
Certificate Principal Balance of the most subordinate
class or classes of Certificates (as established in
Section 4.05 hereof) then outstanding is to be reduced
to zero and on which Realized Losses are to be
allocated to such class or classes, the excess, if any,
of (i) the amount that would otherwise be distributable
in respect of principal on such class or classes of
Certificates on such Distribution Date over (ii) the
excess, if any, of the Certificate Principal Balance of
such class or classes of Certificates immediately prior
to such Distribution Date over the aggregate amount of
Realized Losses to be allocated to such classes of
Certificates on such Distribution Date, as reduced by
any such amount that is included in Section
4.02(b)(i)(E) hereof.
Extraordinary Events: Any of the following
conditions with respect to a Mortgaged Property or
Mortgage Loan causing or resulting in a loss which
causes the liquidation of such Mortgage Loan:
(a) losses that are of the type that would
be covered by the fidelity bond and the errors and
omissions insurance policy required to be
maintained pursuant to Section 3.12(b) but are in
excess of the coverage maintained thereunder;
(b) nuclear reaction or nuclear radiation
or radioactive contamination, all whether
controlled or uncontrolled, and whether such loss
be direct or indirect, proximate or remote or be
in whole or in part caused by, contributed to or
aggravated by a peril covered by the definition of
the term "Special Hazard Loss";
(c) hostile or warlike action in time of
peace or war, including action in hindering,
combatting or defending against an actual,
impending or expected attack:
1. by any government or sovereign
power, de jure or de facto, or by any
authority maintaining or using military,
naval or air forces; or
2. by military, naval or air forces;
or
3. by an agent of any such
government, power, authority or forces;
(d) any weapon of war employing atomic
fission or radioactive force whether in time of
peace or war; or
(e) insurrection, rebellion, revolution,
civil war, usurped power or action taken by
governmental authority in hindering, combatting or
defending against such an occurrence, seizure or
destruction under quarantine or customs
regulations, confiscation by order of any
government or public authority; or risks of
contraband or illegal transportation or trade.
Extraordinary Losses: Any loss incurred on a
Mortgage Loan caused by or resulting from an
Extraordinary Event.
FDIC: Federal Deposit Insurance Corporation
or any successor thereto.
FHLMC: Federal Home Loan Mortgage
Corporation, a corporate instrumentality of the United
States created and existing under Title III of the
Emergency Home Finance Act of 1970, as amended, or any
successor thereto.
Final Distribution Date: The Distribution
Date on which the final distribution in respect of the
Certificates will be made pursuant to Section 9.01
which Final Distribution Date shall in no event be
later than the end of the 90-day liquidation period
described in Section 9.03.
Fitch: Fitch Investors Service, L.P. or its
successor in interest.
FNMA: Federal National Mortgage Association,
a federally chartered and privately owned corporation
organized and existing under the Federal National
Mortgage Association Charter Act, or any successor
thereto.
Foreclosure Profits: As to any Distribution
Date or related Determination Date and any Mortgage
Loan, the excess, if any, of Liquidation Proceeds,
Insurance Proceeds and REO Proceeds (net of all amounts
reimbursable therefrom pursuant to Section 3.10(a)(ii))
in respect of each Mortgage Loan or REO Property for
which a Cash Liquidation or REO Disposition occurred in
the related Prepayment Period over the sum of the
unpaid principal balance of such Mortgage Loan or REO
Property (determined, in the case of an REO
Disposition, in accordance with Section 3.14) plus
accrued and unpaid interest at the Mortgage Rate on
such unpaid principal balance from the Due Date to
which interest was last paid by the Mortgagor to the
first day of the month following the month in which
such Cash Liquidation or REO Disposition occurred.
Fraud Loss Amount: As of any date of
determination after the Cut-off Date, an amount equal
to: (Y) prior to the first anniversary of the Cut-off
Date an amount equal to 2.00% of the aggregate
outstanding principal balance of all of the Mortgage
Loans as of the Cut-off Date minus the aggregate amount
of Fraud Losses allocated solely to one or more
specific Classes of Certificates in accordance with
Section 4.05 since the Cut-off Date up to such date of
determination and (Z) from the first to the fifth
anniversary of the Cut-off Date, an amount equal to (1)
the lesser of (a) the Fraud Loss Amount as of the most
recent anniversary of the Cut-off Date and (b) 1.00% of
the aggregate outstanding principal balance of all of
the Mortgage Loans as of the most recent anniversary of
the Cut-off Date minus (2) the Fraud Losses allocated
solely to one or more specific Classes of Certificates
in accordance with Section 4.05 since the most recent
anniversary of the Cut-off Date up to such date of
determination. On and after the fifth anniversary of
the Cut-off Date the Fraud Loss Amount shall be zero.
The Fraud Loss Amount may be further reduced by
the Master Servicer (including accelerating the manner
in which such coverage is reduced) provided that prior
to any such reduction, the Master Servicer shall (i)
obtain written confirmation from each Rating Agency
that such reduction shall not reduce the rating
assigned to any Class of Certificates by such Rating
Agency below the lower of the then-current rating or
the rating assigned to such Certificates as of the
Closing Date by such Rating Agency and (ii) provide a
copy of such written confirmation to the Trustee.
Fraud Losses: Losses on Mortgage Loans as to
which there was fraud in the origination of such
Mortgage Loan.
Independent: When used with respect to any
specified Person, means such a Person who (i) is in
fact independent of the Company, the Administrator, the
Master Servicer and the Trustee, or any Affiliate
thereof, (ii) does not have any direct financial
interest or any material indirect financial interest in
the Company, the Administrator, the Master Servicer or
the Trustee or in an Affiliate thereof, and (iii) is
not connected with the Company, the Administrator, the
Master Servicer or the Trustee as an officer, employee,
promoter, underwriter, trustee, partner, director or
person performing similar functions.
Initial Certificate Principal Balance: With
respect to each Class of Certificates, the Certificate
Principal Balance of such Class of Certificates as of
the Cut-off Date as set forth in the Preliminary
Statement hereto.
Insurance Proceeds: Proceeds paid in respect
of the Mortgage Loans pursuant to any Primary Insurance
Policy or any other related insurance policy covering a
Mortgage Loan, to the extent such proceeds are payable
to the mortgagee under the Mortgage, any Subservicer,
the Master Servicer or the Trustee and are not applied
to the restoration of the related Mortgaged Property or
released to the Mortgagor in accordance with the
procedures that the Master Servicer would follow in
servicing mortgage loans held for its own account.
Insurer: Any named insurer under any Primary
Insurance Policy or any successor thereto or the named
insurer in any replacement policy.
Late Collections: With respect to any
Mortgage Loan, all amounts received during any Due
Period, whether as late payments of Monthly Payments or
as Insurance Proceeds, Liquidation Proceeds or
otherwise, which represent late payments or collections
of Monthly Payments due but delinquent for a previous
Due Period and not previously recovered.
Liquidation Proceeds: Amounts (other than
Insurance Proceeds) received by the Master Servicer in
connection with the taking of an entire Mortgaged
Property by exercise of the power of eminent domain or
condemnation or in connection with the liquidation of a
defaulted Mortgage Loan through trustee's sale,
foreclosure sale or otherwise, other than REO Proceeds.
Loan-to-Value Ratio: As of any date, the
fraction, expressed as a percentage, the numerator of
which is the current principal balance of the related
Mortgage Loan at the date of determination and the
denominator of which is the Appraised Value of the
related Mortgaged Property.
Maturity Date: The latest possible maturity
date, solely for purposes of Section 1.860G-
1(a)(4)(iii) of the Treasury regulations, by which the
Certificate Principal Balance of each Class of
Certificates representing a regular interest in the
Trust Fund would be reduced to zero, which is December
25, 2025, the Distribution Date in the month of the
latest scheduled maturity date of any Mortgage Loan.
Monthly Payment: With respect to any
Mortgage Loan (including any REO Property) and any Due
Date, the payment of principal and interest due thereon
in accordance with the amortization schedule at the
time applicable thereto (after adjustment, if any, for
curtailments and for Deficient Valuations occurring
prior to such Due Date but before any adjustment to
such amortization schedule by reason of any bankruptcy,
other than a Deficient Valuation, or similar proceeding
or any moratorium or similar waiver or grace period).
Moody's: Moody's Investors Service, Inc., or
its successor in interest.
Mortgage: With respect to each Mortgage Note
related to a Mortgage Loan which is not a Cooperative
Loan, the mortgage, deed of trust or other comparable
instrument creating a first lien on an estate in fee
simple or leasehold interest in real property securing
a Mortgage Note.
Mortgage File: The mortgage documents listed
in Section 2.01 pertaining to a particular Mortgage
Loan and any additional documents required to be added
to the Mortgage File pursuant to this Agreement.
Mortgage Loan Schedule: The list of the
Mortgage Loans attached hereto as Exhibit F (as amended
from time to time to reflect the addition of Qualified
Substitute Mortgage Loans), which list shall set forth
at a minimum the following information as to each
Mortgage Loan:
(i) the Mortgage Loan identifying number
("RFC LOAN #");
(ii) the street address of the Mortgaged
Property including state and zip code
("ADDRESS");
(iii) the maturity of the Mortgage Note
("MATURITY DATE");
(iv) the Mortgage Rate ("ORIG RATE");
(v) the Net Mortgage Rate less the Spread
Rate ("NET MTG RT");
(vi) the Spread Rate ("SPREAD");
(vii) the initial scheduled monthly
payment of principal, if any, and
interest ("ORIGINAL P & I");
(vii) the Cut-off Date Principal Balance
("PRINCIPAL BAL");
(ix) the Loan-to-Value Ratio at origination
("LTV");
(x) the rate at which the Subservicing Fee
accrues ("SUBSERV FEE") and at which
the Servicing Fee accrues ("MSTR SERV
FEE");
(xi) a code "T," "BT" or "CT" under the
column "LN FEATURE," indicating that
the Mortgage Loan is secured by a
second or vacation residence; and
(xii) a code "N" under the column "OCCP
CODE," indicating that the Mortgage
Loan is secured by a non-owner
occupied residence.
Such schedule may consist of multiple reports that
collectively set forth all of the information
requested.
Mortgage Loans: Such of the mortgage loans
transferred and assigned to the Trustee pursuant to
Section 2.01 as from time to time are held or deemed to
be held as a part of the Trust Fund, the Mortgage Loans
originally so held being identified in the initial
Mortgage Loan Schedule, and Qualified Substitute
Mortgage Loans held or deemed held as part of the Trust
Fund including, without limitation, (i) with respect to
each Cooperative Loan, the related Mortgage Note,
Security Agreement, Assignment of Proprietary Lease,
Cooperative Stock Certificate, Cooperative Lease and
Mortgage File and all rights appertaining thereto, and
(ii) with respect to each Mortgage Loan other than a
Cooperative Loan, each related Mortgage Note, Mortgage
and Mortgage File and all rights appertaining thereto.
Mortgage Note: The originally executed note
or other evidence of indebtedness evidencing the
indebtedness of a Mortgagor under a Mortgage Loan,
together with any modification thereto.
Mortgage Rate: As to any Mortgage Loan, the
interest rate borne by the related Mortgage Note, or
any modification thereto.
Mortgaged Property: The underlying real
property securing a Mortgage Loan.
Mortgagor: The obligor on a Mortgage Note.
Net Mortgage Rate: As to each Mortgage Loan,
a per annum rate of interest equal to the Adjusted
Mortgage Rate less the per annum rates at which the
Servicing Fee and the Administration Fee are
calculated.
Non-Discount Mortgage Loan: A Mortgage Loan
that is not a Discount Mortgage Loan.
Non-Primary Residence Loans: The Mortgage
Loans designated as secured by second or vacation
residences, or by non-owner occupied residences, on the
Mortgage Loan Schedule.
Non-United States Person: Any Person other
than a United States Person.
Nonrecoverable Advance: Any Advance
previously made or proposed to be made by the Master
Servicer in respect of a Mortgage Loan (other than a
Deleted Mortgage Loan) which, in the good faith
judgment of the Master Servicer, will not, or, in the
case of a proposed Advance, would not, be ultimately
recoverable by the Master Servicer from related Late
Collections, Insurance Proceeds, Liquidation Proceeds,
REO Proceeds or amounts reimbursable to the Master
Servicer pursuant to Section 4.02(a) hereof.
Nonsubserviced Mortgage Loan: Any Mortgage
Loan that, at the time of reference thereto, is not
subject to a Subservicing Agreement.
Norwest: Norwest Mortgage, Inc., in its
capacity as seller of the Mortgage Loans to the Company
and any successor thereto.
Officers' Certificate: A certificate signed
by the Chairman of the Board, the President or a Vice
President or Assistant Vice President, and by the
Treasurer, the Secretary, or one of the Assistant
Treasurers or Assistant Secretaries of the Company, the
Master Servicer, or the Administrator, as the case may
be, and delivered to the Trustee, as required by this
Agreement.
Opinion of Counsel: A written opinion of
counsel acceptable to the Trustee, Administrator and
the Master Servicer, who may be counsel for the Company
or the Administrator, provided that any opinion of
counsel (i) referred to in the definition of "Permitted
Transferee" or (ii) relating to the qualification of
the Trust Fund as a REMIC or compliance with the REMIC
Provisions must, unless otherwise specified, be an
opinion of Independent counsel.
Original Adjusted Senior Percentage: The
fraction, expressed as a percentage, the numerator of
which is the aggregate Initial Certificate Principal
Balance of the Class A Certificates (excluding the
Certificate Principal Balance of the Class A-5
Certificates and the Class A-11 Certificates) and Class
R Certificates and the denominator of which is the
aggregate Stated Principal Balance of the Mortgage
Loans (other than the related Discount Fraction of the
Discount Mortgage Loans), which is approximately 84.09%
as of the Closing Date.
Outstanding Mortgage Loan: As to any Due
Date, a Mortgage Loan (including an REO Property) which
was not the subject of a Principal Prepayment in Full,
Cash Liquidation or REO Disposition and which was not
purchased, deleted or substituted for prior to such Due
Date pursuant to Section 2.02, 2.03 or 2.04.
Ownership Interest: As to any Certificate,
any ownership or security interest in such Certificate,
including any interest in such Certificate as the
Holder thereof and any other interest therein, whether
direct or indirect, legal or beneficial, as owner or as
pledgee.
Pass-Through Rate: With respect to the Class
A Certificates (other than the Class A-11
Certificates), Class M Certificates, Class B
Certificates and Class R Certificates and any
Distribution Date, the per annum rate set forth in the
Preliminary Statement hereto. The Class A-11
Certificates have no Pass-Through Rate and are not
entitled to Accrued Certificate Interest.
Paying Agent: The First National Bank of
Chicago or any successor Paying Agent appointed by the
Trustee.
Percentage Interest: With respect to any
Certificate (other than a Class R Certificate), the
undivided percentage ownership interest in the related
Class evidenced by such Certificate, which percentage
ownership interest shall be equal to the Initial
Certificate Principal Balance thereof divided by the
aggregate Initial Certificate Principal Balance of all
of the Certificates of the same Class. With respect to
a Class R Certificate, the interest in distributions to
be made with respect to such Class evidenced thereby,
expressed as a percentage, as stated on the face of
each such Certificate.
Permitted Investments: One or more of the
following:
(i) obligations of or guaranteed as to
principal and interest by the United States or any
agency or instrumentality thereof when such
obligations are backed by the full faith and
credit of the United States;
(ii) repurchase agreements on obligations
specified in clause (i) maturing not more than one
month from the date of acquisition thereof,
provided that the unsecured obligations of the
party agreeing to repurchase such obligations are
at the time rated by each Rating Agency in its
highest short-term rating available;
(iii) federal funds, certificates of
deposit, demand deposits, time deposits and
bankers' acceptances (which shall each have an
original maturity of not more than 90 days and, in
the case of bankers' acceptances, shall in no
event have an original maturity of more than 365
days or a remaining maturity of more than 30 days)
denominated in United States dollars of any U.S.
depository institution or trust company
incorporated under the laws of the United States
or any state thereof or of any domestic branch of
a foreign depository institution or trust company;
provided that the debt obligations of such
depository institution or trust company (or, if
the only Rating Agency is Standard & Poor's, in
the case of the principal depository institution
in a depository institution holding company, debt
obligations of the depository institution holding
company) at the date of acquisition thereof have
been rated by each Rating Agency in its highest
short-term rating available; and provided further
that, if the only Rating Agency is Standard &
Poor's and if the depository or trust company is a
principal subsidiary of a bank holding company and
the debt obligations of such subsidiary are not
separately rated, the applicable rating shall be
that of the bank holding company; and, provided
further that, if the original maturity of such
short-term obligations of a domestic branch of a
foreign depository institution or trust company
shall exceed 30 days, the short-term rating of
such institution shall be A-1+ in the case of
Standard & Poor's if Standard & Poor's is the
Rating Agency;
(iv) commercial paper (having original
maturities of not more than 365 days) of any
corporation incorporated under the laws of the
United States or any state thereof which on the
date of acquisition has been rated by each Rating
Agency in its highest short-term rating available;
provided that such commercial paper shall have a
remaining maturity of not more than 30 days;
(v) a money market fund or a qualified
investment fund rated by each Rating Agency in its
highest long-term rating available; and
(vi) other obligations or securities that
are acceptable to each Rating Agency as a
Permitted Investment hereunder and will not reduce
the rating assigned to any Class of Certificates
by such Rating Agency below the lower of the then-
current rating or the rating assigned to such
Certificates as of the Closing Date by such Rating
Agency, as evidenced in writing;
provided, however, that no instrument shall be a
Permitted Investment if it represents, either (1) the
right to receive only interest payments with respect to
the underlying debt instrument or (2) the right to
receive both principal and interest payments derived
from obligations underlying such instrument and the
principal and interest payments with respect to such
instrument provide a yield to maturity greater than
120% of the yield to maturity at par of such underlying
obligations. References herein to the highest rating
available on unsecured long-term debt shall mean AAA in
the case of Standard & Poor's and Fitch and Aaa in the
case of Moody's, and references herein to the highest
rating available on unsecured commercial paper and
short-term debt obligations shall mean A-1 in the case
of Standard & Poor's, P-1 in the case of Moody's and
either A-1 by Standard & Poor's, P-1 by Moody's or F-1
by Fitch in the case of Fitch.
Permitted Transferee: Any Transferee of a
Class R Certificate, other than a Disqualified
Organization or Non-United States Person.
Person: Any individual, corporation,
partnership, joint venture, association, joint-stock
company, trust, unincorporated organization or
government or any agency or political subdivision
thereof.
Pool Stated Principal Balance: As to any
date of determination, the aggregate of the Stated
Principal Balances of each Mortgage Loan that was an
Outstanding Mortgage Loan on the Due Date in the month
preceding the month of such date of determination.
Prepayment Assumption: A prepayment
assumption of 265% of the standard prepayment
assumption, used for determining the accrual of
original issue discount and market discount and premium
on the Certificates for federal income tax purposes.
The standard prepayment assumption assumes a constant
rate of prepayment of mortgage loans of 0.2% per annum
of the then outstanding principal balance of such
mortgage loans in the first month of the life of the
mortgage loans, increasing by an additional 0.2% per
annum in each succeeding month until the thirtieth
month, and a constant 6% per annum rate of prepayment
thereafter for the life of the mortgage loans.
Prepayment Distribution Percentage: With
respect to any Distribution Date and each Class of
Class M Certificates and Class B Certificates, under
the applicable circumstances set forth below, the
respective percentages set forth below:
(i) For any Distribution Date on which the
Class M or Class B Certificates are outstanding:
(a) in the case of the Class of Class M
Certificates then outstanding with the lowest
numerical designation, or in the event the
Class M Certificates are no longer
outstanding, the Class of Class B
Certificates then outstanding with the lowest
numerical designation and each other Class of
Class M Certificates and Class B Certificates
for which the related Prepayment Distribution
Trigger has been satisfied, a fraction,
expressed as a percentage, the numerator of
which is the Certificate Principal Balance of
such Class immediately prior to such date and
the denominator of which is the sum of the
Certificate Principal Balances immediately
prior to such date of (1) the Class of Class
M Certificates then outstanding with the
lowest numerical designation, or in the event
the Class M Certificates are no longer
outstanding, the Class of Class B
Certificates then outstanding with the lowest
numerical designation and (2) all other
Classes of Class M Certificates and Class B
Certificates for which the respective
Prepayment Distribution Triggers have been
satisfied; and
(b) in the case of each other Class of
Class M Certificates and Class B Certificates
for which the Prepayment Distribution
Triggers have not been satisfied, 0%; and
(ii) Notwithstanding the foregoing, if the
application of the foregoing percentages on any
Distribution Date as provided in Section 4.02
(determined without regard to the proviso to the
definition of "Subordinate Principal Distribution
Amount") would result in a distribution in respect
of principal of any Class or Classes of Class M
Certificates and Class B Certificates in an amount
greater than the remaining Certificate Principal
Balance thereof (any such class, a "Maturing
Class"), then: (a) the Prepayment Distribution
Percentage of each Maturing Class shall be reduced
to a level that, when applied as described above,
would exactly reduce the Certificate Principal
Balance of such Class to zero; (b) the Prepayment
Distribution Percentage of each other Class of
Class M Certificates and Class B Certificates (any
such Class, a "Non-Maturing Class") shall be
recalculated in accordance with the provisions in
paragraph (ii) above, as if the Certificate
Principal Balance of each Maturing Class had been
reduced to zero (such percentage as recalculated,
the "Recalculated Percentage"); (c) the total
amount of the reductions in the Prepayment
Distribution Percentages of the Maturing Class or
Classes pursuant to clause (a) of this sentence,
expressed as an aggregate percentage, shall be
allocated among the Non-Maturing Classes in
proportion to their respective Recalculated
Percentages (the portion of such aggregate
reduction so allocated to any Non-Maturing Class,
the "Adjustment Percentage"); and (d) for purposes
of such Distribution Date, the Prepayment
Distribution Percentage of each Non-Maturing Class
shall be equal to the sum of (1) the Prepayment
Distribution Percentage thereof, calculated in
accordance with the provisions in paragraph (ii)
above as if the Certificate Principal Balance of
each Maturing Class had not been reduced to zero,
plus (2) the related Adjustment Percentage.
Prepayment Distribution Trigger: The Class
M-2 Prepayment Distribution Trigger, Class M-3
Prepayment Distribution Trigger, Class B-1 Prepayment
Distribution Trigger, Class B-2 Prepayment Distribution
Trigger or Class B-3 Prepayment Distribution Trigger.
Prepayment Interest Shortfall: As to any
Distribution Date and any Mortgage Loan (other than a
Mortgage Loan relating to an REO Property) that was the
subject of (a) a Principal Prepayment in Full during
the related Prepayment Period, an amount equal to the
excess of one month's interest at the Net Mortgage Rate
on the Stated Principal Balance of such Mortgage Loan
over the amount of interest (adjusted to the Net
Mortgage Rate minus the Spread Rate) paid by the
Mortgagor for such Prepayment Period to the date of
such Principal Prepayment in Full or (b) a Curtailment
during the prior calendar month, an amount equal to one
month's interest at the Net Mortgage Rate on the amount
of such Curtailment.
Prepayment Period: As to any Distribution
Date, the calendar month preceding the month of
distribution.
Primary Insurance Policy: Each primary
policy of mortgage guaranty insurance or any
replacement policy therefor referred to in Section
2.03(b)(iv) and (v) and Section 2.(b)(e) of the
Designated Seller's Agreement.
Principal Prepayment: Any payment of
principal or other recovery on a Mortgage Loan,
including a recovery that takes the form of Liquidation
Proceeds or Insurance Proceeds, which is received in
advance of its scheduled Due Date and is not
accompanied by an amount as to interest representing
scheduled interest on such payment due on any date or
dates in any month or months subsequent to the month of
prepayment.
Principal Prepayment in Full: Any Principal
Prepayment made by a Mortgagor of the entire principal
balance of a Mortgage Loan.
Purchase Price: With respect to any Mortgage
Loan (or REO Property) required to be purchased on any
date pursuant to Section 2.02, 2.03, 2.04 or 4.07, an
amount equal to the sum of (i) 100% of the Stated
Principal Balance thereof plus the principal portion of
any related unreimbursed Advances and (ii) unpaid
accrued interest at the Adjusted Mortgage Rate (or at
the Net Mortgage Rate in the case of a purchase made by
the Master Servicer) on the Stated Principal Balance
thereof to the first day of the month following the
month of purchase from the Due Date to which interest
was last paid by the Mortgagor.
Qualified Substitute Mortgage Loan: A
Mortgage Loan substituted by Norwest for a Deleted
Mortgage Loan which must, on the date of such
substitution, as confirmed in an Officers' Certificate
delivered to the Trustee, (i) have an outstanding
principal balance, after deduction of the principal
portion of the monthly payment due in the month of
substitution (or in the case of a substitution of more
than one Mortgage Loan for a Deleted Mortgage Loan, an
aggregate outstanding principal balance, after such
deduction), not in excess of the Stated Principal
Balance of the Deleted Mortgage Loan (the amount of any
shortfall to be deposited by Norwest the Custodial
Account in the month of substitution); (ii) have a
Mortgage Rate and a Net Mortgage Rate no lower than and
not more than 1% per annum higher than the Mortgage
Rate and Net Mortgage Rate, respectively, of the
Deleted Mortgage Loan as of the date of substitution;
(iii) have a Loan-to-Value Ratio at the time of
substitution no higher than that of the Deleted
Mortgage Loan at the time of substitution; (iv) have a
remaining term to stated maturity not greater than (and
not more than one year less than) that of the Deleted
Mortgage Loan; (v) comply with each representation and
warranty set forth in Sections 2.03 and 2.04 hereof and
Section 4 of the Assignment Agreement; and (vi) have a
Spread Rate equal to or greater than that of the
Deleted Mortgage Loan. Notwithstanding any other
provisions herein, (x) with respect to any Qualified
Substitute Mortgage Loan substituted for a Deleted
Mortgage Loan which was a Discount Mortgage Loan, such
Qualified Substitute Mortgage Loan shall be deemed to
be a Discount Mortgage Loan and to have a Discount
Fraction equal to the Discount Fraction of the Deleted
Mortgage Loan and (y) in the event that the "Spread
Rate" of any Qualified Substitute Mortgage Loan as
calculated pursuant to the definition of "Spread Rate"
is greater than the Spread Rate of the related Deleted
Mortgage Loan (i) the Spread Rate of such Qualified
Substitute Mortgage Loan shall be equal to the Spread
Rate of the related Deleted Mortgage Loan for purposes
of calculating the Spread and (ii) the excess of the
Spread Rate on such Qualified Substitute Mortgage Loan
as calculated pursuant to the definition of "Spread
Rate" over the Spread Rate on the related Deleted
Mortgage Loan shall be payable to the Class R
Certificates pursuant to Section 4.02 hereof.
Rating Agency: Fitch and Standard & Poor's
with respect to the Class A Certificates, Class R
Certificates, Class M-1 Certificates, and Class B-2
Certificates and Fitch with respect to the Class M-2,
Class M-3 and Class B-1 Certificates. If either agency
or a successor is no longer in existence, "Rating
Agency" shall be such statistical credit rating agency,
or other comparable Person, designated by the Company,
notice of which designation shall be given to the
Trustee and the Master Servicer.
Realized Loss: With respect to each Mortgage
Loan (or REO Property) as to which a Cash Liquidation
or REO Disposition has occurred, an amount (not less
than zero) equal to (i) the Stated Principal Balance of
the Mortgage Loan (or REO Property) as of the date of
Cash Liquidation or REO Disposition, plus (ii) interest
(and REO Imputed Interest, if any) at the Net Mortgage
Rate from the Due Date as to which interest was last
paid or advanced to Certificateholders up to the last
day of the month in which the Cash Liquidation (or REO
Disposition) occurred on the Stated Principal Balance
of such Mortgage Loan (or REO Property) outstanding
during each Due Period that such interest was not paid
or advanced, minus (iii) the proceeds, if any, received
during the month in which such Cash Liquidation (or REO
Disposition) occurred, to the extent applied as
recoveries of interest at the Net Mortgage Rate and to
principal of the Mortgage Loan, net of the portion
thereof reimbursable to the Master Servicer or any
Subservicer with respect to related Advances or
expenses as to which the Master Servicer or Subservicer
is entitled to reimbursement thereunder but which have
not been previously reimbursed. With respect to each
Mortgage Loan which has become the subject of a
Deficient Valuation, the difference between the
principal balance of the Mortgage Loan outstanding
immediately prior to such Deficient Valuation and the
principal balance of the Mortgage Loan as reduced by
the Deficient Valuation. With respect to each Mortgage
Loan which has become the object of a Debt Service
Reduction, the amount of such Debt Service Reduction.
Record Date: With respect to each
Distribution Date, the close of business on the last
Business Day of the month next preceding the month in
which the related Distribution Date occurs.
Regular Certificate: Any of the Certificates
other than a Class R Certificate.
REMIC: A "real estate mortgage investment
conduit" within the meaning of Section 860D of the
Code.
REMIC Provisions: Provisions of the federal
income tax law relating to real estate mortgage
investment conduits, which appear at Sections 860A
through 860G of Subchapter M of Chapter 1 of the Code,
and related provisions, and temporary and final
regulations (or, to the extent not inconsistent with
such temporary or final regulations, proposed
regulations) and published rulings, notices and
announcements promulgated thereunder, as the foregoing
may be in effect from time to time.
REO Acquisition: The acquisition by the
Master Servicer on behalf of the Trustee for the
benefit of the Certificateholders of any REO Property
pursuant to Section 3.14.
REO Disposition: As to any REO Property, a
determination by the Master Servicer that it has
received all Insurance Proceeds, Liquidation Proceeds,
REO Proceeds and other payments and recoveries
(including proceeds of a final sale) which the Master
Servicer expects to be finally recoverable from the
sale or other disposition of the REO Property.
REO Imputed Interest: As to any REO
Property, for any period, an amount equivalent to
interest (at the Net Mortgage Rate that would have been
applicable to the related Mortgage Loan had it been
outstanding) on the unpaid principal balance of the
Mortgage Loan as of the date of acquisition thereof for
such period.
REO Proceeds: Proceeds, net of expenses,
received in respect of any REO Property (including,
without limitation, proceeds from the rental of the
related Mortgaged Property) which proceeds are required
to be deposited into the Custodial Account only upon
the related REO Disposition.
REO Property: A Mortgaged Property acquired
by the Master Servicer through foreclosure or deed in
lieu of foreclosure in connection with a defaulted
Mortgage Loan.
Request for Release: A request for release,
the forms of which are attached as Exhibit H hereto.
Required Insurance Policy: With respect to
any Mortgage Loan, any insurance policy which is
required to be maintained from time to time under this
Agreement, pursuant to Section 3.11 and 3.12 or the
related Subservicing Agreement in respect of such
Mortgage Loan.
Residential Funding: Residential Funding
Corporation, a Delaware corporation, in its capacity as
seller of the Mortgage Loans to the Company and any
successor thereto.
Responsible Officer: When used with respect
to the Trustee, any officer of the Corporate Trust
Department of the Trustee, including any Senior Vice
President, any Vice President, any Assistant Vice
President, any Assistant Secretary, any Trust Officer
or Assistant Trust Officer, or any other officer of the
Trustee customarily performing functions similar to
those performed by any of the above designated officers
to whom, with respect to a particular matter, such
matter is referred.
Schedule of Discount Fractions: The schedule
setting forth the Discount Fractions with respect to
the Discount Mortgage Loans, attached hereto as Exhibit
P.
Seller: As to any Mortgage Loan, a Person,
including any Subservicer, that executed a Seller's
Agreement applicable to such Mortgage Loan.
Senior Percentage: As of any Distribution
Date, the lesser of 100% and a fraction, expressed as a
percentage, the numerator of which is the aggregate
Certificate Principal Balance of the Class A
Certificates (other than the Certificate Principal
Balance of the Class A-11 Certificates) and Class R
Certificates immediately prior to such Distribution
Date and the denominator of which is the aggregate
Stated Principal Balance of all of the Mortgage Loans
(or related REO Properties) (other than the related
Discount Fraction of each Discount Mortgage Loan)
immediately prior to such Distribution Date.
Senior Principal Distribution Amount: As to
any Distribution Date, the lesser of (a) the balance of
the Available Distribution Amount remaining after the
distribution of all amounts required to be distributed
pursuant to Section 4.02(a)(i) and (ii)(X) and (b) the
sum of the amounts required to be distributed to the
Class A Certificateholders and Class R
Certificateholders on such Distribution Date pursuant
to Section 4.02(a)(ii)(Y), (xvi) and (xvii).
Senior Support Certificates: Any of the Class
A-5 Certificates.
Senior Support Percentage: As of any
Distribution Date, a fraction, expressed as a
percentage, equal to the aggregate Certificate
Principal Balance of the Senior Support Certificates
immediately prior to such Distribution Date divided by
the aggregate Stated Principal Balance of all of the
Mortgage Loans (other than the Discount Fraction of the
Discount Mortgage Loans) immediately prior to such
Distribution Date.
Servicing Accounts: The account or accounts
created and maintained pursuant to Section 3.08.
Servicing Advances: All customary,
reasonable and necessary "out of pocket" costs and
expenses incurred in connection with a default,
delinquency or other unanticipated event by the Master
Servicer in the performance of its servicing
obligations, including, but not limited to, the cost of
(i) the preservation, restoration and protection of a
Mortgaged Property, (ii) any enforcement or judicial
proceedings, including foreclosures, (iii) the
management and liquidation of any REO Property and (iv)
compliance with the obligations under Sections 3.01,
3.08, 3.12(a) and 3.14.
Servicing Fee: With respect to any Mortgage
Loan and Distribution Date, the fee payable monthly to
the Master Servicer in respect of master servicing
compensation that accrues at an annual rate equal to
0.250% (0.05% with respect to a Subserviced Mortgage
Loan) on the Stated Principal Balance of such Mortgage
Loan as of the related Due Date, as may be adjusted
with respect to successor Master Servicers as provided
in Section 7.02.
Servicing Officer: Any officer of the Master
Servicer involved in, or responsible for, the
administration and servicing of the Mortgage Loans
whose name and specimen signature appear on a list of
servicing officers furnished to the Trustee by the
Master Servicer, as such list may from time to time be
amended.
Special Hazard Amount: As of any
Distribution Date, an amount equal to $3,263,316 minus
the sum of (i) the aggregate amount of Special Hazard
Losses allocated solely to one or more specific Classes
of Certificates in accordance with Section 4.05 and
(ii) the Adjustment Amount (as defined below) as most
recently calculated. For each anniversary of the Cut-
off Date, the Adjustment Amount shall be equal to the
amount, if any, by which the amount calculated in
accordance with the preceding sentence (without giving
effect to the deduction of the Adjustment Amount for
such anniversary) exceeds the greater of (A) the
greatest of (i) twice the outstanding principal balance
of the Mortgage Loan in the Trust Fund which has the
largest outstanding principal balance on the
Distribution Date immediately preceding such
anniversary, (ii) the product of 1.00% multiplied by
the outstanding principal balance of all Mortgage Loans
on the Distribution Date immediately preceding such
anniversary and (iii) the aggregate outstanding
principal balance (as of the immediately preceding
Distribution Date) of the Mortgage Loans in any single
five-digit California zip code area with the largest
amount of Mortgage Loans by aggregate principal balance
as of such anniversary and (B) the greater of (i) the
product of 0.50% multiplied by the outstanding
principal balance of all Mortgage Loans on the
Distribution Date immediately preceding such
anniversary multiplied by a fraction, the numerator of
which is equal to the aggregate outstanding principal
balance (as of the immediately preceding Distribution
Date) of all of the Mortgage Loans secured by Mortgaged
Properties located in the State of California divided
by the aggregate outstanding principal balance (as of
the immediately preceding Distribution Date) of all of
the Mortgage Loans, expressed as a percentage, and the
denominator of which is equal to 39.46% (which
percentage is equal to the percentage of Mortgage Loans
initially secured by Mortgaged Properties located in
the State of California) and (ii) the aggregate
outstanding principal balance (as of the immediately
preceding Distribution Date) of the largest Mortgage
Loan secured by a Mortgaged Property located in the
State of California.
The Special Hazard Amount may be further reduced
by the Master Servicer (including accelerating the
manner in which coverage is reduced) provided that
prior to any such reduction, the Master Servicer shall
(i) obtain written confirmation from each Rating Agency
that such reduction shall not reduce the rating
assigned to any Class of Certificates by such Rating
Agency below the lower of the then-current rating or
the rating assigned to such Certificates as of the
Closing Date by such Rating Agency and (ii) provide a
copy of such written confirmation to the Trustee.
Special Hazard Loss: Any Realized Loss not
in excess of the cost of the lesser of repair or
replacement of a Mortgaged Property suffered by such
Mortgaged Property on account of direct physical loss,
exclusive of (i) any loss of a type covered by a hazard
policy or a flood insurance policy required to be
maintained in respect of such Mortgaged Property
pursuant to Section 3.12(a), except to the extent of
the portion of such loss not covered as a result of any
coinsurance provision and (ii) any Extraordinary Loss.
Spread: With respect to any Mortgage Loan,
all interest accrued at the Spread Rate on the
principal balance from time to time outstanding of each
Mortgage Loan, the right to which is initially retained
by Norwest pursuant to Section 2.01, and which is
payable to or at the direction of Norwest out of the
interest portion of all payments or collections
actually received by the Master Servicer as to the
Mortgage Loan. In the event any payment or collection
received and allocated to interest on any Mortgage Loan
payment, net of Servicing Fees, any Subservicing Fees
and the Administration Fees, is less than the full
amount of interest then due with respect to such
Mortgage Loan, the proportion of such partial recovery
to be treated as Spread shall be determined in
accordance with Section 3.14.
Spread Rate: With respect to each Mortgage
Loan, a rate per annum equal to the excess of the Net
Mortgage Rate over 7.50% per annum.
Standard & Poor's: Standard & Poor's Ratings
Services, a division of The McGraw-Hill Companies, or
its successor in interest.
Stated Principal Balance: With respect to
any Mortgage Loan or related REO Property, at any given
time, (i) the Cut-off Date Principal Balance of the
Mortgage Loan, minus (ii) the sum of (a) the principal
portion of the Monthly Payments due with respect to
such Mortgage Loan or REO Property during each Due
Period ending prior to the most recent Distribution
Date which were received or with respect to which an
Advance was made, and (b) all Principal Prepayments
with respect to such Mortgage Loan or REO Property, and
all Insurance Proceeds, Liquidation Proceeds and REO
Proceeds, to the extent applied by the Master Servicer
as recoveries of principal in accordance with Section
3.14 with respect to such Mortgage Loan or REO
Property, in each case which were distributed pursuant
to Section 4.02 on any previous Distribution Date, and
(c) any Realized Loss allocated to Certificateholders
with respect thereto for any previous Distribution
Date.
Subordinate Principal Distribution Amount:
With respect to any Distribution Date and each Class of
Class M Certificates and Class B Certificates, (a) the
sum of (i) the product of (x) the related Class M
Percentage or Class B Percentage for such Class and (y)
the aggregate of the amounts for such Distribution Date
referred to under clauses (1), (2) and (3) of Section
4.02(a)(ii)(Y)(A); (ii) such Class's pro rata share,
based on the Certificate Principal Balance of each
Class of Class M Certificates and Class B Certificates
then outstanding, of the principal collections
described in Section 4.02(a)(ii)(Y)(B)(b) to the extent
such collections are not otherwise distributed to the
Senior Certificates; (iii) the product of (x) the
related Prepayment Distribution Percentage, (y) 100%
minus the Adjusted Senior Accelerated Distribution
Percentage and (z) the aggregate of all Principal
Prepayments in Full and Curtailments received in the
related Prepayment Period (other than the related
Discount Fraction of such Principal Payments in Full
and Curtailments with respect to a Discount Mortgage
Loans); (iv) if such Class is the most senior Class of
Certificates then outstanding (as established in
Section 4.05 hereof), any Excess Subordinate Principal
Amount for such Distribution Date; and (v) any amounts
described in clauses (i), (ii) and (iii) as determined
for any previous Distribution Date, that remain
undistributed to the extent that such amounts are not
attributable to Realized Losses which have been
allocated to a subordinate Class of Class M or Class B
Certificates minus (b) any Excess Subordinate Principal
Amount not payable to such Class on such Distribution
Date pursuant to the definition thereof; provided,
however, that such amount shall in no event exceed the
outstanding Certificate Principal Balance of such Class
of Certificates immediately prior to such date.
Subserviced Mortgage Loan: Any Mortgage Loan
that, at the time of reference thereto, is subject to a
Subservicing Agreement.
Subservicer: Any Person with whom the Master
Servicer has entered into a Subservicing Agreement and
which meets the qualifications of a Subservicer
pursuant to Section 3.02.
Subservicer Advance: Any delinquent
installment of principal and interest on a Mortgage
Loan which is advanced by the related Subservicer (net
of its Subservicing Fee) pursuant to the Subservicing
Agreement.
Subservicer Remittance Date: The 18th of
each month, as if such day is not a Business Day, the
immediately preceding Business Day.
Subservicing Account: An account established
by a Subservicer in accordance with Section 3.08.
Subservicing Agreement: The written contract
between the Master Servicer and any Subservicer
relating to servicing and administration of certain
Mortgage Loans as provided in Section 3.02, generally
in the form of the servicer contract referred to or
approved by the Master Servicer.
Subservicing Fee: As to any Subserviced
Mortgage Loan, the fee payable monthly to the related
Subservicer in respect of subservicing and other
compensation that accrues at an annual rate equal to
0.250% on the Stated Principal Balance of such Mortgage
Loan as of the related Due Date.
Super Senior Certificates: Any one of the
Class A-1, Class A-2, Class A-3, Class A-4, Class A-6,
Class A-7 Class A-9, Class A-10 or Class R
Certificates.
Super Senior Optimal Percentage: As of any
Distribution Date occurring on or after the Credit
Support Depletion Date, the fraction, expressed as a
percentage, the numerator of which is the aggregate
Certificate Principal Balance of the Super Senior
Certificates immediately prior to such Distribution
Date and the denominator of which is the aggregate
Certificate Principal Balance of all Senior
Certificates (other than the Certificate Principal
Balance of the Class A-11 Certificates) immediately
prior to such Distribution Date.
Super Senior Optimal Principal Distribution
Amount: With respect to any Distribution Date
occurring on or after the Credit Support Depletion
Date, the sum of (A) the product of (a) the then-
applicable Super Senior Optimal Percentage for such
class and (b) the sum of the amounts described in
clauses (A), (D) and (F) of Section 4.02(a)(ii)(Y) and
(B) the sum of the amounts described in clauses (B) and
(C) of Section 4.02(a)(ii)(Y).
Tax Returns: The federal income tax return
on Internal Revenue Service Form 1066, U.S. Real Estate
Mortgage Investment Conduit Income Tax Return,
including Schedule Q thereto, Quarterly Notice to
Residual Interest Holders of REMIC Taxable Income or
Net Loss Allocation, or any successor forms, to be
filed on behalf of the Trust Fund due to its
classification as REMICs under the REMIC Provisions,
together with any and all other information, reports or
returns that may be required to be furnished to the
Certificateholders or filed with the Internal Revenue
Service or any other governmental taxing authority
under any applicable provisions of federal, state or
local tax laws.
Transfer: Any direct or indirect transfer,
sale, pledge, hypothecation or other form of assignment
of any Ownership Interest in a Certificate.
Transferee: Any Person who is acquiring by
Transfer any Ownership Interest in a Certificate.
Transferor: Any Person who is disposing by
Transfer of any Ownership Interest in a Certificate.
Trust Fund: The segregated pool of assets,
with respect to which a REMIC election is to be made,
consisting of:
(i) the Mortgage Loans (exclusive of the Spread)
and the related Mortgage Files,
(ii) all payments on and collections in respect of
the Mortgage Loans due after the Cut-off Date
as shall be on deposit in the Custodial
Account or in the Certificate Account and
identified as belonging to the Trust Fund,
(iii) property which secured a Mortgage Loan
and which has been acquired for the
benefit of the Certificateholders by
foreclosure or deed in lieu of
foreclosure, and
(iv) the hazard insurance policies and Primary
Insurance Policies, if any, and certain
proceeds thereof.
Uninsured Cause: Any cause of damage to
property subject to a Mortgage such that the complete
restoration of such property is not fully reimbursable
by the hazard insurance policies.
United States Person: A citizen or resident
of the United States, a corporation, partnership or
other entity created or organized in, or under the laws
of, the United States or any political subdivision
thereof, or an estate or trust whose income from
sources without the United States is includible in
gross income for United States federal income tax
purposes regardless of its connection with the conduct
of a trade or business within the United States.
Voting Rights: The portion of the voting
rights of all of the Certificates which is allocated to
any Certificate. 99% of all of the Voting Rights shall
be allocated among Holders of Certificates,
respectively, other than the Class R Certificates, in
proportion to the outstanding Certificate Principal
Balances of their respective Certificates. The Holders
of the Class R Certificates shall be entitled to 1% of
all of the Voting Rights, allocated among the
Certificates of each such Class in accordance with
their respective Percentage Interests.
ARTICLE II
CONVEYANCE OF MORTGAGE LOANS;
ORIGINAL ISSUANCE OF CERTIFICATES
Section 2.01. Conveyance of Mortgage Loans.
(a) The Company, concurrently with the execution
and delivery hereof, does hereby assign to the Trustee
without recourse all the right, title and interest of
the Company in and to the Mortgage Loans (exclusive of
all rights of Norwest in and to the Spread with respect
to each Mortgage Loan), including all interest and
principal received on or with respect to the Mortgage
Loans after the Cut-off Date (other than payments of
principal and interest due on the Mortgage Loans on or
before the Cut-off Date).
(b) In connection with such assignment, the
Company has requested Norwest to deliver and Norwest
does hereby deliver to, and deposit with, the Trustee,
or to and with one or more Custodians, as the duly
appointed agent or agents of the Trustee for such
purpose, as described in the Designated Seller's
Agreement the following documents or instruments (or
copies thereof as permitted by this Section) with
respect to each Mortgage Loan so assigned):
(i) the original Mortgage Note,
endorsed by the originator or the originator's
successor in interest (which in all cases will be
Norwest or an affiliate) of the related Mortgage
Loan in the following form: "Pay to the order of
The First National Bank of Chicago, as trustee,"
or with respect to any Destroyed Mortgage Note, an
original lost note affidavit from the seller
stating that the original mortgage note was lost,
misplaced or destroyed, together with a copy of
the related mortgage note;
(ii) the original Mortgage with
evidence of recording indicated thereon or a copy
of the Mortgage certified by the applicable public
recording office to be a true and complete copy of
the recorded original thereof;
(iii) an original Assignment of
mortgage executed by the originator (or the
originator's successor in interest, which in all
cases will be the seller or an affiliate) of the
related Mortgage Loan in the following form: "The
First National Bank of Chicago, as trustee";
(iv) the original primary mortgage
insurance policy and riders if appropriate, if
any, or a copy of such primary mortgage insurance
policy certified by the seller to be a true and
complete copy thereof;
(v) the original or copies of each
assumption, modification, written assurance,
preferred loan or substitution agreement, if any;
(vi) the original lender's title
insurance policy and endorsements if any, or a
copy of such title insurance policy certified by
the title company to be a true and complete copy
thereof or, in the event such original or
certified copy of the title policy is unavailable,
a commitment (binder) to issue such policy;
(vii) the original power of attorney
with evidence of recording thereon granted by the
mortgagor in the event that the related mortgage
note or mortgage was not signed by such mortgagor
or a copy of such power of attorney certified by
the relevant public recording office if such
public recording office retained the original; and
(viii) if applicable, a true and
complete copy, certified as such by an officer of
the seller, of each certificate or other evidence
of merger or change of name, signed or stamped by
the applicable regulatory authority, if any of the
Mortgage Loans were acquired by the seller by
merger or acquired or originated by the seller
while conducting business under a name other than
its present name.
(c) Norwest may, in lieu of delivering the
documents set forth in Section 2.01(b)(iv) and (v) to
the Trustee or the Custodian or Custodians, deliver
such documents to the Master Servicer, and the Master
Servicer shall hold such documents in trust for the use
and benefit of all present and future
Certificateholders until such time as is set forth
below. Within ten Business Days following the earlier
of (i) the receipt of the original of each of the
documents or instruments set forth in Section
2.01(b)(iv) and (v) (or copies thereof as permitted by
such Section) for any Mortgage Loan and (ii) a written
request by the Trustee to deliver those documents with
respect to any or all of the Mortgage Loans then being
held by the Master Servicer, the Master Servicer shall
deliver a complete set of such documents to the Trustee
or the Custodian or Custodians that are the duly
appointed agent or agents of the Trustee.
On the Closing Date, the Custodian on behalf of
the Trustee shall certify that it has in its possession
an original or copy of each of the documents referred
to in Section 2.01(b)(iv) which has been delivered to
it by the Company. Every six months after the Closing
Date, for so long as the Master Servicer is holding
documents pursuant to this Section 2.01(c), the Master
Servicer shall deliver to (i) Moody's if it is one of
the Rating Agencies, (ii) the Trustee and (iii) each
Custodian a report setting forth the status of the
documents which it is holding.
(d) In the event that in connection with any
Mortgage Loan Norwest cannot deliver the Mortgage, any
assignment, modification, assumption agreement or
preferred loan agreement (or copy thereof certified by
the public recording office) with evidence of recording
thereon concurrently with the execution and delivery of
this Agreement solely because of a delay caused by the
public recording office where such Mortgage,
assignment, modification, assumption agreement or
preferred loan agreement as the case may be, has been
delivered for recordation, Norwest shall deliver or
cause to be delivered to the Trustee or the respective
Custodian a true and correct photocopy of such
Mortgage, assignment, modification, assumption
agreement or preferred loan agreement.
Pursuant to the Designated Seller's Agreement,
Norwest shall promptly cause to be recorded in the
appropriate public office for real property records the
Assignment referred to in clause (iii) of Section
2.01(b), except in states where, in the opinion of
counsel acceptable to the Trustee and the Master
Servicer, such recording is not required to protect the
Trustee's interests in the Mortgage Loan against the
claim of any subsequent transferee or any successor to
or creditor of the Company or the originator of such
Mortgage Loan. If any Assignment is lost or returned
unrecorded to Norwest because of any defect therein,
Norwest shall prepare a substitute Assignment or cure
such defect, as the case may be, and cause such
Assignment to be recorded in accordance with this
paragraph. Norwest shall promptly deliver or cause to
be delivered to the Trustee or the respective Custodian
such Mortgage or assignment (or copy thereof certified
by the public recording office) with evidence of
recording indicated thereon upon receipt thereof from
the public recording office or from the related
Subservicer.
Any of the items set forth in Sections 2.01(b)(iv)
and that may be delivered as a copy rather than the
original may be delivered in microfiche form.
(e) It is intended that the conveyances by the
Company to the Trustee of the Mortgage Loans as
provided for in this Section 2.01 be construed as a
sale by the Company to the Trustee of the Mortgage
Loans for the benefit of the Certificateholders.
Further, it is not intended that any such conveyance be
deemed to be a pledge of the Mortgage Loans by the
Company to the Trustee to secure a debt or other
obligation of the Company. However, in the event that
the Mortgage Loans are held to be property of the
Company or of Norwest, or if for any reason this
Agreement is held or deemed to create a security
interest in the Mortgage Loans, then it is intended
that (a) this Agreement shall also be deemed to be a
security agreement within the meaning of Articles 8 and
9 of the New York and Iowa Uniform Commercial Code and
the Uniform Commercial Code of any other applicable
jurisdiction; (b) the conveyances provided for in this
Section 2.01 shall be deemed to be (1) a grant by the
Company to the Trustee of a security interest in all of
the Company's right (including the power to convey
title thereto), title and interest, whether now owned
or hereafter acquired, in and to (A) the Mortgage
Loans, including, the Mortgage Notes, the Mortgages,
any related insurance policies and all other documents
in the related Mortgage Files, (B) all amounts payable
pursuant to the Mortgage Loans in accordance with the
terms thereof and (C) any and all general intangibles
consisting of, arising from or relating to any of the
foregoing, and all proceeds of the conversion,
voluntary or involuntary, of the foregoing into cash,
instruments, securities or other property, including
without limitation all amounts from time to time held
or invested in the Certificate Account or the Custodial
Account, whether in the form of cash, instruments,
securities or other property and (2) an assignment by
the Company to the Trustee of any security interest in
any and all of Norwest's right (including the power to
convey title thereto), title and interest, whether now
owned or hereafter acquired, in and to the property
described in the foregoing clauses (1)(A), (B) and (C)
granted by Norwest to the Company pursuant to the
Designated Seller's Agreement; (c) the possession by
the Trustee, the Custodian or any other agent of the
Trustee of Mortgage Notes or such other items of
property as constitute instruments, money, negotiable
documents or chattel paper shall be deemed to be
"possession by the secured party," or possession by a
purchaser or a person designated by such secured party,
for purposes of perfecting the security interest
pursuant to the Iowa Uniform Commercial Code and the
Uniform Commercial Code of any other applicable
jurisdiction (including, without limitation, Section 9-
305, 8-313 or 8-321 thereof); and (d) notifications to
persons holding such property, and acknowledgments,
receipts or confirmations from persons holding such
property, shall be deemed notifications to, or
acknowledgments, receipts or confirmations from,
financial intermediaries, bailees or agents (as
applicable) of the Trustee for the purpose of
perfecting such security interest under applicable law.
The Company and, at the Company's direction,
Norwest and the Trustee shall, to the extent consistent
with this Agreement, take such reasonable actions as
may be necessary to ensure that, if this Agreement were
deemed to create a security interest in the Mortgage
Loans, and the other property described above, such
security interest would be deemed to be a perfected
security interest of first priority under applicable
law and will be maintained as such throughout the term
of this Agreement. Without limiting the generality of
the foregoing, the Company shall prepare and deliver to
the Trustee not less than 15 days prior to any filing
date and, the Trustee shall forward for filing, or
shall cause to be forwarded for filing, at the expense
of the Company, all filings necessary to maintain the
effectiveness of any original filings necessary under
the Uniform Commercial Code as in effect in any
jurisdiction to perfect the Trustee's security interest
in or lien on the Mortgage Loans, as evidenced by an
Officer's Certificate of the Company, including without
limitation (x) continuation statements, and (y) such
other statements as may be occasioned by (1) any change
of name of Norwest, the Company or the Trustee (such
preparation and filing shall be at the expense of the
Trustee, if occasioned by a change in the Trustee's
name), (2) any change of location of the place of
business or the chief executive office of Norwest or
the Company or (3) any transfer of any interest of
Norwest or the Company in any Mortgage Loan.
Section 2.02. Acceptance by Trustee.
The Trustee acknowledges receipt (or, with
respect to Mortgage Loans subject to a Custodial
Agreement, and based solely upon a receipt or
certification executed by the Custodian, receipt by the
respective Custodian as the duly appointed agent of the
Trustee) of the documents referred to in Section
2.01(b)(i) through (iii) above (except that for
purposes of such acknowledgement only, a Mortgage Note
may be endorsed in blank and an Assignment of Mortgage
may be in blank) and declares that it, or a Custodian
as its agent, holds and will hold such documents and
the other documents constituting a part of the Mortgage
Files delivered to it, or a Custodian as its agent, in
trust for the use and benefit of all present and future
Certificateholders. The Trustee or Custodian (such
Custodian being so obligated under a Custodial
Agreement) agrees, for the benefit of
Certificateholders, to review each Mortgage File
delivered to it pursuant to Section 2.01(b) within 45
days after the Closing Date to ascertain that all
required documents (specifically as set forth in
Section 2.01(b)), have been executed and received, and
that such documents relate to the Mortgage Loans
identified on the Mortgage Loan Schedule, as
supplemented, that have been conveyed to it. Upon
delivery of the Mortgage Files by the Company or the
Master Servicer, the Trustee shall acknowledge receipt
(or, with respect to Mortgage Loans subject to a
Custodial Agreement, and based solely upon a receipt or
certification executed by the Custodian, receipt by the
respective Custodian as the duly appointed agent of the
Trustee) of the documents referred to in Section
2.01(c) above. The Trustee or Custodian (such
Custodian being so obligated under a Custodial
Agreement) agrees to review each Mortgage File
delivered to it pursuant to Section 2.01(c) within 45
days after receipt thereof to ascertain that all
documents required to be delivered pursuant to such
Section have been received, and that such documents
relate to the Mortgage Loans identified on the Mortgage
Loan Schedule, as supplemented, that have been conveyed
to it.
If the Custodian, as the Trustee's agent, finds
any document or documents constituting a part of a
Mortgage File to be missing or defective in any
material respect, the Trustee shall promptly so notify
the Master Servicer. Pursuant to Section 2.3 of the
Custodial Agreement, the Custodian will notify Norwest,
the Master Servicer, the Company and the Trustee of any
such omission or defect found by it in respect of any
Mortgage File held by it. Norwest shall correct or
cure such omission or defect within 60 days from the
date it was notified of such omission or defect and, if
Norwest does not correct or cure such omission or
defect within such period, Norwest shall purchase such
Mortgage Loan from the Trust Fund at its Purchase
Price, in either case within 90 days from the date it
was notified of such omission or defect. The Purchase
Price for any such Mortgage Loan, whether purchased by
Norwest or a Subservicer, shall be deposited or caused
to be deposited by the Master Servicer or the
Subservicer in the Custodial Account maintained by it
pursuant to Section 3.07 and, upon receipt by the
Trustee of written notification of such deposit signed
by a Servicing Officer, the Trustee or any Custodian,
as the case may be, shall release the related Mortgage
File and the Trustee shall execute and deliver such
instruments of transfer or assignment prepared by the
Master Servicer, in each case without recourse, as
shall be necessary to vest in Norwest, any Mortgage
Loan released pursuant hereto and thereafter such
Mortgage Loan shall not be part of the Trust Fund. It
is understood and agreed that the obligation of
Norwest, as the case may be, to so cure or purchase any
Mortgage Loan as to which a material defect in or
omission of a constituent document exists shall
constitute the sole remedy respecting such defect or
omission available to Certificateholders or the Trustee
on behalf of Certificateholders.
Section 2.03. Representations, Warranties
and Covenants
of the Master Servicer.
(a) The Master Servicer hereby represents and
warrants to the Trustee for the benefit of
Certificateholders that:
(i) The Master Servicer is a corporation
duly organized, validly existing and in good
standing under the laws governing its creation and
existence and is or will be in compliance with the
laws of each state in which any Mortgaged Property
is located to the extent necessary to ensure the
enforceability of each Mortgage Loan in accordance
with the terms of this Agreement;
(ii) The execution and delivery of this
Agreement by the Master Servicer and its
performance and compliance with the terms of this
Agreement will not violate the Master Servicer's
Certificate of Incorporation or Bylaws or
constitute a default (or an event which, with
notice or lapse of time, or both, would constitute
a material default) under, or result in the
material breach of, any material contract,
agreement or other instrument to which the Master
Servicer is a party or which may be applicable to
the Master Servicer or any of its assets;
(iii) This Agreement, assuming due
authorization, execution and delivery by the
Trustee and the Company, constitutes a valid,
legal and binding obligation of the Master
Servicer, enforceable against it in accordance
with the terms hereof subject to applicable
bankruptcy, insolvency, reorganization, moratorium
and other laws affecting the enforcement of
creditors' rights generally and to general
principles of equity, regardless of whether such
enforcement is considered in a proceeding in
equity or at law;
(iv) The Master Servicer is not in default
with respect to any order or decree of any court
or any order, regulation or demand of any Federal,
state, municipal or governmental agency, which
default might have consequences that would
materially and adversely affect the condition
(financial or other) or operations of the Master
Servicer or its properties or might have
consequences that would materially adversely
affect its performance hereunder;
(v) No litigation is pending or, to the
best of the Master Servicer's knowledge,
threatened against the Master Servicer which would
prohibit its entering into this Agreement or
performing its obligations under this Agreement;
(vi) The Master Servicer will comply in all
material respects in the performance of this
Agreement with all reasonable rules and
requirements of each insurer under each Required
Insurance Policy;
(vii) The Master Servicer has the full
power and authority to enter into and consummate
all transactions contemplated by this Agreement,
has duly authorized the execution, delivery and
performance of this Agreement, and has duly
executed and delivered this Agreement;
(viii) The execution of this Agreement and
the performance of the Master Servicer's
obligations hereunder do not require any license,
consent or approval of any state or federal court,
agency, regulatory authority or other governmental
body having jurisdiction over the Master Servicer,
other than such as have been obtained;
(ix) No information, certificate of an
officer, statement furnished in writing or report
delivered to the Company, any Affiliate of the
Company or the Trustee by the Master Servicer
will, to the knowledge of the Master Servicer,
contain any untrue statement of a material fact or
omit a material fact necessary to make the
information, certificate, statement or report not
misleading; and
(x) The Master Servicer has examined each
existing, and will examine each new, Subservicing
Agreement and is or will be familiar with the
terms thereof. The terms of each existing
Subservicing Agreement and each designated
Subservicer are acceptable to the Master Servicer
and any new Subservicing Agreements will comply
with the provisions of Section 3.02.
It is understood and agreed that the representations
and warranties set forth in this Section 2.03(a) shall
survive delivery of the respective Mortgage Files to
the Trustee or any Custodian.
Upon discovery by either the Company, the
Administrator, the Master Servicer, the Trustee or any
Custodian of a breach of any representation or warranty
set forth in this Section 2.03(a) which materially and
adversely affects the interests of the
Certificateholders in any Mortgage Loan, the party
discovering such breach shall give prompt written
notice to the other parties (any Custodian being so
obligated under a Custodial Agreement). Within 90 days
of its discovery or its receipt of notice of such
breach, the Master Servicer shall either (i) cure such
breach in all material respects or (ii) to the extent
that such breach is with respect to a Mortgage Loan or
a related document, purchase such Mortgage Loan from
the Trust Fund at the Purchase Price and in the manner
set forth in Section 2.02. The obligation of the
Master Servicer to cure such breach or to so purchase
such Mortgage Loan shall constitute the sole remedy in
respect of a breach of a representation and warranty
set forth in this Section 2.03(a) available to the
Certificateholders or the Trustee on behalf of the
Certificateholders and such Owner.
(b) The Company hereby represents and warrants to
the Trustee for the benefit of Certificateholders that
as of the Closing Date (or, if otherwise specified
below, as of the date so specified):
(i) Assuming that representation (iii) of
Norwest set forth in Section 4(b) of the
Designated Seller's Agreement and attached as
Exhibit G hereto is true and correct, then
immediately prior to the assignment of the
Mortgage Loans to the Trustee, the Company had
good title to, and was the sole owner of, each
Mortgage Loan free and clear of any pledge, lien,
encumbrance or security interest (other than
rights to servicing and related compensation) and
such assignment validly transfers ownership of the
Mortgage Loans to the Trustee free and clear of
any pledge, lien, encumbrance or security
interest; and
(ii) The representations and warranties of
Norwest with respect to the Mortgage Loans and the
remedies therefor that are contained in the
Designated Seller's Agreement are as set forth in
Exhibit G hereto.
It is understood and agreed that the representations
and warranties set forth in this Section 2.03(b) shall
survive delivery of the respective Mortgage Files to
the Trustee or any Custodian.
Upon discovery by any of the Company, the
Administrator, the Master Servicer, the Trustee or any
Custodian of a breach of any of the representations and
warranties set forth in this Section 2.03(b) which
materially and adversely affects the interests of the
Certificateholders in any Mortgage Loan, the party
discovering such breach shall give prompt written
notice to the other parties (any Custodian being so
obligated under a Custodial Agreement).
Section 2.04. Repurchase Obligations and
Substitution.
The Company, hereby assigns to the Trustee
for the benefit of Certificateholders all of its right,
title and interest in respect of the Designated
Seller's Agreement. Insofar as the Designated Seller's
Agreement relates to the representations and warranties
made by the Master Servicer, in its capacity as Seller,
in respect of such Mortgage Loan and any remedies
provided thereunder for any breach of such
representations and warranties, such right, title and
interest may be enforced on behalf of the Trustee and
the Certificateholders. Upon the discovery by the
Company, the Administrator, the Master Servicer, the
Trustee or any Custodian of a breach of any of the
representations and warranties made in a Designated
Seller's Agreement (which, for purposes hereof, will be
deemed to include any other cause giving rise to a
repurchase obligation under the Designated Seller's
Agreement) in respect of any Mortgage Loan which
materially and adversely affects the interests of the
Certificateholders in such Mortgage Loan, the party
discovering such breach shall give prompt written
notice to the other parties (any Custodian being so
obligated under a Custodial Agreement). The Master
Servicer shall promptly notify Norwest, of such breach
and request that Norwest either (i) cure such breach in
all material respects within 90 days from the date the
Master Servicer was notified of such breach or (ii)
purchase such Mortgage Loan from the Trust Fund at the
Purchase Price and in the manner set forth in Section
2.02; provided that in the case of a breach under the
Designated Seller's Agreement Norwest shall have the
option to substitute a Qualified Substitute Mortgage
Loan or Loans for such Mortgage Loan if such
substitution occurs within two years following the
Closing Date, except that if the breach would cause the
Mortgage Loan to be other than a "qualified mortgage"
as defined in Section 860G(a)(3) of the Code, any such
substitution must occur within 90 days from the date
the Master Servicer was notified of the breach if such
90 day period expires before two years following the
Closing Date. In the event that Norwest elects to
substitute a Qualified Substitute Mortgage Loan or
Loans for a Deleted Mortgage Loan pursuant to this
Section 2.04, Norwest shall deliver to the Trustee for
the benefit of the Certificateholders with respect to
such Qualified Substitute Mortgage Loan or Loans, the
original Mortgage Note, the Mortgage, an Assignment of
the Mortgage in recordable form, and such other
documents and agreements as are required by Section
2.01, with the Mortgage Note endorsed as required by
Section 2.01. No substitution will be made in any
calendar month after the Determination Date for such
month. Monthly Payments due with respect to Qualified
Substitute Mortgage Loans in the month of substitution
shall not be part of the Trust Fund and will be
retained by the Master Servicer and remitted by the
Master Servicer to Norwest on the next succeeding
Distribution Date. For the month of substitution,
distributions to Certificateholders will include the
Monthly Payment due on a Deleted Mortgage Loan for such
month and thereafter Norwest shall be entitled to
retain all amounts received in respect of such Deleted
Mortgage Loan. The Master Servicer shall amend or cause
to be amended the Mortgage Loan Schedule, and, if the
Deleted Mortgage Loan was a Discount Mortgage Loan, the
Schedule of Discount Fractions for the benefit of the
Certificateholders to reflect the removal of such
Deleted Mortgage Loan and the substitution of the
Qualified Substitute Mortgage Loan or Loans and the
Master Servicer shall deliver the amended Mortgage Loan
Schedule, and, if the Deleted Mortgage Loan was a
Discount Mortgage Loan, the Schedule of Discount
Fractions, to the Trustee. Upon such substitution, the
Qualified Substitute Mortgage Loan or Loans shall be
subject to the terms of this Agreement in all respects,
Norwest shall be deemed to have made the
representations and warranties with respect to the
Qualified Substitute Mortgage Loan contained in the
Designated Seller's Agreement as of the date of
substitution, and the Master Servicer shall be deemed
to have made with respect to any Qualified Substitute
Mortgage Loan or Loans, as of the date of substitution,
the covenants, representations and warranties set forth
in this Section 2.04, in Section 2.03 hereof and in
Section 3 of the Designated Seller's Agreement, and
Norwest shall be obligated to repurchase or substitute
for any Qualified Substitute Mortgage Loan in
accordance with Section 5.
In connection with the substitution of one or more
Qualified Substitute Mortgage Loans for one or more
Deleted Mortgage Loans, the Master Servicer will
determine the amount (if any) by which the aggregate
principal balance of all such Qualified Substitute
Mortgage Loans as of the date of substitution is less
than the aggregate Stated Principal Balance of all such
Deleted Mortgage Loans (in each case after application
of the principal portion of the Monthly Payments due in
the month of substitution that are to be distributed to
Certificateholders in the month of substitution).
Norwest shall deposit the amount of such shortfall into
the Custodial Account on the day of substitution,
without any reimbursement therefor. Norwest shall give
notice in writing to the Trustee of such event, which
notice shall be accompanied by an Officers' Certificate
as to the calculation of such shortfall and by an
Opinion of Counsel to the effect that such substitution
will not cause (a) any federal tax to be imposed on the
Trust Fund, including without limitation, any federal
tax imposed on "prohibited transactions" under Section
860F(a)(1) of the Code or on "contributions after the
startup date" under Section 860G(d)(1) of the Code or
(b) any portion of the Trust Fund to fail to qualify as
a REMIC at any time that any Certificate is
outstanding.
It is understood and agreed that the obligation of
Norwest, to cure such breach or purchase (or to
substitute for) such Mortgage Loan as to which such a
breach has occurred and is continuing shall constitute
the sole remedy respecting such breach available to
Certificateholders or the Trustee on behalf of
Certificateholders. If the Master Servicer is Norwest,
then the Trustee shall also have the right to give the
notification and require the purchase or substitution
provided for in the second preceding paragraph in the
event of such a breach of a representation or warranty
made by Norwest in the Designated Seller's Agreement.
In connection with the purchase of or substitution for
any such Mortgage Loan by Norwest, the Trustee shall
assign to all of the right, title and interest in
respect of the Designated Seller's Agreement applicable
to such Mortgage Loan.
Section 2.05. Execution and Authentication
of Certificates.
The Trustee acknowledges the assignment to it
of the Mortgage Loans and the delivery of the Mortgage
Files to it, or any Custodian on its behalf, subject to
any exceptions noted, together with the assignment to
it of all other assets included in the Trust Fund,
receipt of which is hereby acknowledged. Concurrently
with such delivery and in exchange therefor, the
Trustee, pursuant to the written request of the Company
executed by an officer of the Company, has executed and
caused to be authenticated and delivered to or upon the
order of the Company the Certificates in authorized
denominations which evidence ownership of the entire
Trust Fund.
ARTICLE III
ADMINISTRATION AND SERVICING
OF MORTGAGE LOANS
Section 3.01. Master Servicer to Act as
Servicer.
(a) The Master Servicer shall service and
administer the Mortgage Loans in accordance with the
terms of this Agreement and the respective Mortgage
Loans and customary and usual standards of practice of
prudent mortgage lenders in the respective states in
which the Mortgaged Properties are located, and shall
have full power and authority, acting alone or through
Subservicers as provided in Section 3.02, to do any and
all things which it may deem necessary or desirable in
connection with such servicing and administration.
Without limiting the generality of the foregoing, the
Master Servicer in its own name or in the name of a
Subservicer is hereby authorized and empowered by the
Trustee when the Master Servicer or the Subservicer, as
the case may be, believes it appropriate in its best
judgment, to execute and deliver, on behalf of the
Certificateholders and the Trustee or any of them, any
and all instruments of satisfaction or cancellation, or
of partial or full release or discharge, or of consent
to assumption or modification in connection with a
proposed conveyance, or of assignment of any Mortgage
and Mortgage Note in connection with the repurchase of
a Mortgage Loan and all other comparable instruments,
or with respect to the modification or re-recording of
a Mortgage for the purpose of correcting the Mortgage,
the subordination of the lien of the Mortgage in favor
of a public utility company or government agency or
unit with powers of eminent domain, the taking of a
deed in lieu of foreclosure, the completion of judicial
or non-judicial foreclosure, the conveyance of a
Mortgaged Property to an Insurer, the acquisition of
any property acquired by foreclosure or deed in lieu of
foreclosure, or the management, marketing and
conveyance of any property acquired by foreclosure or
deed in lieu of foreclosure with respect to the
Mortgage Loans and with respect to the Mortgaged
Properties. Notwithstanding the foregoing, subject to
Section 3.07(a), the Master Servicer shall not permit
any modification with respect to any Mortgage Loan that
would both constitute a sale or exchange of such
Mortgage Loan within the meaning of Section 1001 of the
Code and any proposed, temporary or final regulations
promulgated thereunder (other than in connection with a
proposed conveyance or assumption of such Mortgage Loan
that is treated as a Principal Prepayment in Full
pursuant to Section 3.13(d) hereof) and cause the Trust
Fund to fail to qualify as such under the Code. The
Trustee shall furnish the Master Servicer with any
powers of attorney and other documents necessary or
appropriate to enable the Master Servicer to service
and administer the Mortgage Loans. The Trustee shall
not be liable for any action taken by the Master
Servicer or any Subservicer pursuant to such powers of
attorney.
(b) All costs incurred by the Master Servicer or
by Subservicers in effecting the timely payment of
taxes and assessments on the properties subject to the
Mortgage Loans shall not, for the purpose of
calculating monthly distributions to
Certificateholders, be added to the amount owing under
the related Mortgage Loans, notwithstanding that the
terms of such Mortgage Loan so permit, and such costs
shall be recoverable to the extent permitted by Section
3.10(a)(ii).
(c) The relationship of the Master Servicer or
the Administrator (and of any successor to the Master
Servicer or the Administrator under this Agreement) to
the Trustee under this Agreement is intended by the
parties to be that of an independent contractor and not
that of a joint venturer, partner or agent of the
Trustee.
Section 3.02. Subservicing Agreements
Between Master Servicer and
Subservicers; Enforcement of
Subservicers' and Sellers'
Obligations.
(a) The Master Servicer may enter into
Subservicing Agreements with Subservicers for the
servicing and administration of all or some of the
Mortgage Loans and for the performance of any and all
other activities of the Master Servicer hereunder.
Each Subservicer of a Mortgage Loan shall be entitled
to receive and retain, as provided in the related
Subservicing Agreement and in Section 3.07, the related
Subservicing Fee from payments of interest received on
such Mortgage Loan after payment of all amounts
required to be remitted to the Master Servicer and the
Administrator in respect of such Mortgage Loan. For
any Mortgage Loan that is a Nonsubserviced Mortgage
Loan, the Master Servicer shall be entitled to receive
and retain an amount equal to the Servicing Fee from
payments of interest. Unless the context otherwise
requires, references in this Agreement to actions taken
or to be taken by the Master Servicer in servicing the
Mortgage Loans include actions taken or to be taken by
a Subservicer on behalf of the Master Servicer. Each
Subservicer shall be either (i) an institution the
accounts of which are insured by the FDIC or (ii)
another entity that engages in the business of
originating or servicing mortgage loans, and in either
case (w) shall be authorized to transact business in
the state or states in which the related Mortgaged
Properties it is to service are situated, if and to the
extent required by applicable law to enable the Sub-
Servicer to perform its obligations hereunder and under
the Subservicing Agreement, (y) shall be a FHLMC or
FNMA approved mortgage servicer and (z) shall have a
net worth of not less than $2,000,000. Each
Subservicing Agreement must impose on the Subservicer
requirements conforming to the provisions set forth in
Section 3.08 and provide for servicing of the Mortgage
Loans consistent with the terms of this Agreement.
With the consent of the Trustee, which consent shall
not be unreasonably withheld, the Master Servicer and
the Subservicers may enter into Subservicing Agreements
and make amendments to the Subservicing Agreements or
enter into different forms of Subservicing Agreements;
provided, however, that any such amendments or
different forms shall be consistent with and not
violate the provisions of this Agreement, and that no
such amendment or different form shall be made or
entered into which could be reasonably expected to be
materially adverse to the interests of the
Certificateholders, without the consent of the Holders
of Certificates entitled to at least 51% of the Voting
Rights.
(b) As part of its servicing activities
hereunder, the Master Servicer, for the benefit of the
Trustee and the Certificateholders, shall use its best
reasonable efforts to enforce the obligations of each
Subservicer under the related Subservicing Agreement to
the extent that the non-performance of any such
obligation would have a material and adverse effect on
a Mortgage Loan, including, without limitation any
obligation to make advances in respect of delinquent
payments as required by the Subservicing Agreement or,
the obligation to purchase a Mortgage Loan on account
of defective documentation, as described in Section
2.02, or on account of a breach of a representation or
warranty, as described in Section 2.04. Such
enforcement, including, without limitation, the legal
prosecution of claims, termination of Subservicing
Agreements or Seller's Agreements, as appropriate, and
the pursuit of other appropriate remedies, shall be in
such form and carried out to such an extent and at such
time as the Master Servicer would employ in its good
faith business judgment and which are normal and usual
in its general mortgage servicing activities. The
Master Servicer shall pay the costs of such enforcement
at its own expense, and shall be reimbursed therefor
only (i) from a general recovery resulting from such
enforcement to the extent, if any, that such recovery
exceeds all amounts due in respect of the related
Mortgage Loan or (ii) from a specific recovery of
costs, expenses or attorneys fees against the party
against whom such enforcement is directed.
Section 3.03. Successor Subservicers.
The Master Servicer shall be entitled to
terminate any Subservicing Agreement that may exist in
accordance with the terms and conditions of such
Subservicing Agreement and without any limitation by
virtue of this Agreement; provided, however, that in
the event of termination of any Subservicing Agreement
by the Master Servicer or the Subservicer, the Master
Servicer shall either act as servicer of the related
Mortgage Loan or enter into a Subservicing Agreement
with a successor Subservicer which will be bound by the
terms of the related Subservicing Agreement.
Section 3.04. Liability of the Master
Servicer.
Notwithstanding any Subservicing Agreement,
any of the provisions of this Agreement relating to
agreements or arrangements between the Master Servicer
or a Subservicer or reference to actions taken through
a Subservicer or otherwise, the Master Servicer shall
remain obligated and primarily liable to the Trustee
and Certificateholders for the servicing and
administering of the Mortgage Loans in accordance with
the provisions of Section 3.01 without diminution of
such obligation or liability by virtue of such
Subservicing Agreements or arrangements or by virtue of
indemnification from the Subservicer or the Company and
to the same extent and under the same terms and
conditions as if the Master Servicer alone were
servicing and administering the Mortgage Loans. For
purposes of this Agreement, the Master Servicer shall
be deemed to have received payments on Mortgage Loans
when the Subservicer has received such payments. The
Master Servicer shall be entitled to enter into any
agreement with a Subservicer or Seller for
indemnification of the Master Servicer and nothing
contained in this Agreement shall be deemed to limit or
modify such indemnification.
Section 3.05. No Contractual Relationship
Between Subservicer and
Trustee or Certificateholders.
Any Subservicing Agreement that may be
entered into and any other transactions or services
relating to the Mortgage Loans involving a Subservicer
in its capacity as such and not as an originator shall
be deemed to be between the Subservicer and the Master
Servicer alone and the Trustee and Certificateholders
shall not be deemed parties thereto and shall have no
claims, rights, obligations, duties or liabilities with
respect to the Subservicer in its capacity as such
except as set forth in Section 3.06. The foregoing
provision shall not in any way limit a Subservicer's
obligation to cure an omission or defect or to
repurchase a Mortgage Loan as referred to in Section
2.02 hereof.
Section 3.06. Assumption or Termination of
Subservicing Agreements by
Trustee.
(a) In the event the Master Servicer shall for
any reason no longer be the master servicer (including
by reason of an Event of Default), the Trustee, its
designee or its successor shall thereupon assume all of
the rights and obligations of the Master Servicer under
each Subservicing Agreement that may have been entered
into unless the Trustee is then permitted and elects to
terminate any Subservicing Agreement in accordance with
its terms. The Trustee, its designee or the successor
servicer for the Trustee shall be deemed to have
assumed all of the Master Servicer's interest therein
and to have replaced the Master Servicer as a party to
the Subservicing Agreement to the same extent as if the
Subservicing Agreement had been assigned to the
assuming party except that the Master Servicer shall
not thereby be relieved of any liability or obligations
under the Subservicing Agreement.
(b) The Master Servicer shall, upon request of
the Trustee but at the expense of the Master Servicer,
deliver to the assuming party all documents and records
relating to each Subservicing Agreement and the
Mortgage Loans then being serviced and an accounting of
amounts collected and held by it and otherwise use its
best efforts to effect the orderly and efficient
transfer of each Subservicing Agreement to the assuming
party.
Section 3.07. Collection of Certain Mortgage
Loan Payments;
Deposits to Custodial Account.
(a) The Master Servicer shall make reasonable
efforts to collect all payments called for under the
terms and provisions of the Mortgage Loans, and shall,
to the extent such procedures shall be consistent with
this Agreement and the terms and provisions of any
related Primary Insurance Policy, follow such
collection procedures as it would employ in its good
faith business judgment and which are normal and usual
in its general mortgage servicing activities.
Consistent with the foregoing, the Master Servicer may
in its discretion (i) waive any late payment charge or
any prepayment charge or penalty interest in connection
with the prepayment of a Mortgage Loan and (ii) extend
the Due Date for payments due on a Mortgage Loan
provided, however, that the Master Servicer shall first
determine that any such waiver or extension will not
impair the coverage of any related Primary Insurance
Policy or materially adversely affect the lien of the
related Mortgage. Consistent with the terms of this
Agreement, the Master Servicer may also waive, modify
or vary any term of any Mortgage Loan or consent to the
postponement of strict compliance with any such term or
in any manner grant indulgence to any Mortgagor if in
the Master Servicer's determination such waiver,
modification, postponement or indulgence is not
materially adverse to the interests of the
Certificateholders, provided, however, that the Master
Servicer may not modify materially or permit any
Subservicer to modify any Mortgage Loan, including
without limitation any modification that would change
the Mortgage Rate, forgive the payment of any principal
or interest (unless in connection with the liquidation
of the related Mortgage Loan or except in connection
with prepayments to the extent that such reamortization
is not inconsistent with the terms of the Mortgage
Loan), or extend the final maturity date of such
Mortgage Loan, unless such Mortgage Loan is in default
or, in the judgment of the Master Servicer, such
default is reasonably foreseeable. In the event of any
such arrangement, the Master Servicer shall make timely
advances on the related Mortgage Loan during the
scheduled period in accordance with the amortization
schedule of such Mortgage Loan without modification
thereof by reason of such arrangements unless otherwise
agreed to by the Holders of the Classes of Certificates
affected thereby.
(b) The Master Servicer shall establish and
maintain a Custodial Account in which the Master
Servicer shall deposit or cause to be deposited on a
daily basis, except as otherwise specifically provided
herein, the following payments and collections remitted
by Subservicers or received by it in respect of the
Mortgage Loans subsequent to the Cut-off Date (other
than in respect of principal and interest on the
Mortgage Loans due on or before the Cut-off Date):
(i) All payments on account of principal,
including Principal Prepayments made by Mortgagors
on the Mortgage Loans and the principal component
of any Subservicer Advance or of any REO Proceeds
received in connection with an REO Property for
which an REO Disposition has occurred;
(ii) All payments on account of interest at
the Adjusted Mortgage Rate on the Mortgage Loans,
including Buydown Funds, if any, and the interest
component of any Subservicer Advance or of any REO
Proceeds received in connection with an REO
Property for which an REO Disposition has
occurred;
(iii) Insurance Proceeds and Liquidation
Proceeds (net of any related expenses of the
Subservicer);
(iv) All proceeds of any Mortgage Loans
purchased pursuant to Section 2.02, 2.03, 2.04 or
4.07 and all amounts required to be deposited in
connection with the substitution of a Qualified
Substitute Mortgage Loan pursuant to Section 2.03
or 2.04;
(v) Any amounts required to be deposited
pursuant to Section 3.07(c) or 3.21; and
(vi) All amounts transferred from the
Certificate Account to the Custodial Account in
accordance with Section 4.02(a).
The foregoing requirements for deposit in the Custodial
Account shall be exclusive, it being understood and
agreed that, without limiting the generality of the
foregoing, payments on the Mortgage Loans which are not
part of the Trust Fund (consisting of payments in
respect of principal and interest on the Mortgage Loans
due on or before the Cut-off Date) and payments or
collections in the nature of prepayment charges or late
payment charges or assumption fees may but need not be
deposited by the Master Servicer in the Custodial
Account. In the event any amount not required to be
deposited in the Custodial Account is so deposited, the
Master Servicer may at any time withdraw such amount
from the Custodial Account, any provision herein to the
contrary notwithstanding. The Custodial Account may
contain funds that belong to one or more trust funds
created for mortgage pass-through certificates of other
series and may contain other funds respecting payments
on mortgage loans belonging to the Master Servicer or
serviced or master serviced by it on behalf of others.
Notwithstanding such commingling of funds, the Master
Servicer shall keep records that accurately reflect the
funds on deposit in the Custodial Account that have
been identified by it as being attributable to the
Mortgage Loans.
With respect to Insurance Proceeds, Liquidation
Proceeds, REO Proceeds and the proceeds of the purchase
of any Mortgage Loan pursuant to Sections 2.02, 2.03,
2.04 and 4.07 received in any calendar month, the
Master Servicer may elect to treat such amounts as
included in the Available Distribution Amount for the
Distribution Date in the month of receipt, but is not
obligated to do so. If the Master Servicer so elects,
such amounts will be deemed to have been received (and
any related Realized Loss shall be deemed to have
occurred) on the last day of the month prior to the
receipt thereof.
(c) The Master Servicer shall use its best
efforts to cause the institution maintaining the
Custodial Account to invest the funds in the Custodial
Account attributable to the Mortgage Loans in Permitted
Investments which shall mature not later than the
Certificate Account Deposit Date next following the
date of such investment (with the exception of the
Amount Held for Future Distribution) and which shall
not be sold or disposed of prior to their maturities.
All income and gain realized from any such investment
shall be for the benefit of the Master Servicer as
additional servicing compensation and shall be subject
to its withdrawal or order from time to time. The
amount of any losses incurred in respect of any such
investments attributable to the investment of amounts
in respect of the Mortgage Loans shall be deposited in
the Custodial Account by the Master Servicer out of its
own funds immediately as realized.
(d) The Master Servicer shall give notice to the
Trustee, the Administrator and the Company of any
change in the location of the Custodial Account and the
location of the Certificate Account prior to the use
thereof.
Section 3.08. Subservicing Accounts;
Servicing Accounts.
(a) In those cases where a Subservicer is
servicing a Mortgage Loan pursuant to a Subservicing
Agreement, the Subservicing Agreement shall require the
Subservicer to establish and maintain one or more
Subservicing Accounts which shall be acceptable to the
Master Servicer. The Subservicer will be required
thereby to deposit into the Subservicing Account on a
daily basis all proceeds of Mortgage Loans received by
the Subservicer, less its subservicing compensation and
unreimbursed advances and expenses and such proceeds
shall be deemed received by the Master Servicer when
deposited by the Subservicer. Each Subservicing
Agreement shall require the related Subservicer on or
before the Subservicer Remittance Date to remit to the
Master Servicer for deposit in the Custodial Account
all funds held in the Subservicing Account with respect
to each Mortgage Loan serviced by such Subservicer that
are required to be remitted to the Master Servicer.
Each Subservicing Agreement shall require the related
Subservicer to advance on such Subservicer Remittance
Date amounts equal to any scheduled monthly
installments of principal and interest less its
servicing compensation on any Mortgage Loans for which
payment was not received by the Subservicer. This
obligation to advance with respect to each Mortgage
Loan will continue only to the extent that such
advances, in the good faith judgment of the
Subservicer, will be recoverable by the Subservicer out
of Insurance Proceeds, Liquidation Proceeds or
otherwise. All such advances received by the Master
Servicer shall be deposited promptly by it in the
Custodial Account.
(b) The Subservicer may also be required,
pursuant to the Subservicing Agreement, to remit to the
Master Servicer for deposit in the Custodial Account
interest at the Adjusted Mortgage Rate on any
Curtailment or Principal Prepayment In Full received by
such Subservicer in respect of a Mortgage Loan from the
related Mortgagor during any month that is to be
applied by the Subservicer to reduce the unpaid
principal balance of the related Mortgage Loan as of
the first day of such month, from the date of
application of such Curtailment to the first day of the
following month. Any amounts paid by a Subservicer
pursuant to the preceding sentence shall be for the
benefit of the Master Servicer as additional servicing
compensation and shall be subject to its withdrawal or
order from time to time pursuant to Sections
3.10(a)(iv) and (v).
(c) In addition to the Custodial Account and the
Certificate Account, the Master Servicer shall for any
Nonsubserviced Mortgage Loan, and the Subservicing
Agreement shall require the Subservicers for
Subserviced Mortgage Loans to, establish and maintain
one or more Servicing Accounts and deposit and retain
therein all collections from the Mortgagors (or
advances from Subservicers) for the payment of taxes,
assessments, hazard insurance premiums, Primary
Insurance Policy premiums, if applicable, or comparable
items for the account of the Mortgagors. Each
Servicing Account shall satisfy the requirements for a
Subservicing Account and, to the extent otherwise
acceptable to the Master Servicer, may also function as
a Subservicing Account. Withdrawals of amounts related
to the Mortgage Loans from the Servicing Accounts may
be made only to effect timely payment of taxes,
assessments, hazard insurance premiums, Primary
Insurance Policy premiums, if applicable, or comparable
items, to reimburse the Master Servicer or Subservicer
out of related collections for any payments made
pursuant to Sections 3.11 (with respect to the Primary
Insurance Policy) and 3.12(a) (with respect to hazard
insurance), to refund to any Mortgagors any sums as may
be determined to be overages, to pay interest, if
required, to Mortgagors on balances in the Servicing
Account or to clear and terminate the Servicing Account
at the termination of this Agreement in accordance with
Section 9.01. As part of its servicing duties, the
Master Servicer shall, and the Subservicers will,
pursuant to the Subservicing Agreements, be required to
pay to the Mortgagors interest on funds in this account
to the extent required by law.
(d) The Master Servicer shall advance the
payments referred to in the preceding subsection that
are not timely paid by the Mortgagors or advanced by
the Subservicers on the date when the tax, premium or
other cost for which such payment is intended is due,
but the Master Servicer shall be required so to advance
only to the extent that such advances, in the good
faith judgment of the Master Servicer, will be
recoverable by the Master Servicer out of Insurance
Proceeds, Liquidation Proceeds or otherwise.
Section 3.09. Access to Certain Documentatio
n and Information Regarding
the Mortgage Loans.
In the event that compliance with this
Section 3.09 shall make any Class of Certificates legal
for investment by federally insured savings and loan
associations, the Master Servicer shall provide, or
cause the Subservicers to provide, to the Trustee, the
Office of Thrift Supervision or the FDIC and the
supervisory agents and examiners thereof access to the
documentation regarding the Mortgage Loans required by
applicable regulations of the Office of Thrift
Supervision, such access being afforded without charge
but only upon reasonable request and during normal
business hours at the offices designated by the Master
Servicer. The Master Servicer shall permit such
representatives to photocopy any such documentation and
shall provide equipment for that purpose at a charge
reasonably approximating the cost of such photocopying
to the Master Servicer.
Section 3.10. Permitted Withdrawals from the
Custodial Account.
(a) The Master Servicer may, from time to time as
provided herein, make withdrawals from the Custodial
Account of amounts on deposit therein pursuant to
Section 3.07 that are attributable to the Mortgage
Loans for the following purposes:
(i) to make deposits into the Certificate
Account in the amounts and in the manner provided
for in Section 4.01;
(ii) to reimburse itself or the related
Subservicer for previously unreimbursed advances
or expenses made pursuant to Sections 3.01, 3.02,
3.08, 3.11, 3.12(a), 3.14 and 4.04 or otherwise
reimbursable pursuant to the terms of this
Agreement, such withdrawal right being limited to
amounts received on particular Mortgage Loans
(including, for this purpose, REO Proceeds,
Insurance Proceeds, Liquidation Proceeds and
proceeds from the purchase of a Mortgage Loan
pursuant to Section 2.02, 2.03, 2.04 or 4.07)
which represent (A) Late Collections of Monthly
Payments for which any such advance was made in
the case of Subservicer Advances or Advances
pursuant to Section 4.04 and (B) late recoveries
of the payments for which such advances were made
in the case of Servicing Advances;
(iii) to pay to itself or the related
Subservicer (if not previously retained by such
Subservicer) out of each payment received by the
Master Servicer on account of interest on a
Mortgage Loan as contemplated by Sections 3.14 and
3.16, an amount equal to that remaining portion of
any such payment as to interest (but not in excess
of the Servicing Fee and the Subservicing Fee, if
not previously retained) which, when deducted,
will result in the remaining amount of such
interest being interest at the Net Mortgage Rate
plus the Administration Fee Rate on the amount
specified in the amortization schedule of the
related Mortgage Loan as the principal balance
thereof at the beginning of the period respecting
which such interest was paid after giving effect
to any previous Curtailments;
(iv) to pay to itself as additional
servicing compensation any interest or investment
income earned on funds deposited in the Custodial
Account that it is entitled to withdraw pursuant
to Section 3.07(c);
(v) to pay to itself as additional
servicing compensation any Foreclosure Profits,
and any amounts remitted by Subservicers as
interest in respect of Curtailments pursuant to
Section 3.08(b);
(vi) to pay to itself, Subservicer, Norwest,
the Administrator, the Company or any other
appropriate Person, as the case may be, with
respect to each Mortgage Loan or property acquired
in respect thereof that has been purchased or
otherwise transferred pursuant to Section 2.02,
2.03, 2.04, 4.07 or 9.01, all amounts received
thereon and not required to be distributed to
Certificateholders as of the date on which the
related Stated Principal Balance or Purchase Price
is determined;
(vii) to pay to the Administrator out of
each payment received by the Master Servicer on
account of interest on a Mortgage Loan as
contemplated by Sections 3.14 and 3.16, an amount
equal to that remaining portion of any such
payment as to interest (but not in excess of the
Administration Fee, if not previously retained)
which, when deducted, will result in the remaining
amount of such interest being interest at the sum
of the Net Mortgage Rate plus the Servicing Fee
and Subservicing Fee on the amount specified in
the amortization schedule of the related Mortgage
Loan as the principal balance thereof at the
beginning of the period respecting which such
interest was paid after giving effect to any
previous Curtailments;
(viii) to pay amounts allocable to Spread
to Norwest or its assignee out of collections or
payments which represent interest on each Mortgage
Loan (including any Mortgage Loan as to which
title to the underlying Mortgaged Property was
acquired);
(ix) to reimburse itself or the related
Subservicer for any Nonrecoverable Advance or
Advances in the manner and to the extent provided
in subsection (c) below or any Advance
reimbursable to the Master Servicer pursuant to
Section 4.02(a)(iii);
(x) to reimburse itself, the Administrator
or the Company for expenses incurred by and
reimbursable to it, the Administrator or the
Company pursuant to Sections 3.13, 3.14(c), 6.03,
10.01 or otherwise;
(xi) to reimburse itself for amounts
expended by it (a) pursuant to Section 3.14 in
good faith in connection with the restoration of
property damaged by an Uninsured Cause, and (b) in
connection with the liquidation of a Mortgage Loan
or disposition of an REO Property to the extent
not otherwise reimbursed pursuant to clause (ii)
or (ix) above; and
(xii) to withdraw any amount deposited in
the Custodial Account that was not required to be
deposited therein pursuant to Section 3.07.
(b) Since, in connection with withdrawals
pursuant to clauses (ii), (iii), (v) and (vi), the
Master Servicer's entitlement thereto is limited to
collections or other recoveries on the related Mortgage
Loan, the Master Servicer shall keep and maintain
separate accounting, on a Mortgage Loan by Mortgage
Loan basis, for the purpose of justifying any
withdrawal from the Custodial Account pursuant to such
clauses.
(c) The Master Servicer shall be entitled to
reimburse itself or the related Subservicer for any
advance made in respect of a Mortgage Loan that the
Master Servicer determines to be a Nonrecoverable
Advance by withdrawal from the Custodial Account of
amounts on deposit therein attributable to the Mortgage
Loans on any Certificate Account Deposit Date
succeeding the date of such determination. Such right
of reimbursement in respect of a Nonrecoverable Advance
on any such Certificate Account Deposit Date shall be
limited to an amount not exceeding the portion of such
advance previously paid to Certificateholders and the
Owner of the Excess Spread (and not theretofore
reimbursed to the Master Servicer or the related
Subservicer).
(d) The Master Servicer shall pay to Norwest or
its assignee, by wire transfer, on a monthly basis, all
amounts collected by the Master Servicer on account of
Spread on the Mortgage Loans, to the account of Norwest
or its assignee at a bank or other entity having
appropriate facilities therefor, or shall otherwise
hold and distribute such amounts as provided under any
agreement relating to Spread to which the Master
Servicer is a party.
Section 3.11. Maintenance of the Primary Ins
urance Policies;
Collections Thereunder.
(a) The Master Servicer shall not take, and any
Subservicing Agreement shall not permit any Subservicer
to take, any action which would result in non-coverage
under any applicable Primary Insurance Policy of any
loss which, but for the actions of the Master Servicer
or Subservicer, would have been covered thereunder. To
the extent coverage is available, the Master Servicer
shall keep or cause to be kept in full force and effect
each such Primary Insurance Policy until the principal
balance of the related Mortgage Loan secured by a
Mortgaged Property is reduced to 80% or less of the
Appraised Value in the case of such a Mortgage Loan
having a Loan-to-Value Ratio at origination in excess
of 80%, provided that such Primary Insurance Policy was
in place as of the Cut-off Date and the Company had
knowledge of such Primary Insurance Policy. In the
event that the Company gains knowledge that as of the
Closing Date, a Mortgage Loan had a Loan-to-Value Ratio
at origination in excess of 80% and is not the subject
of a Primary Insurance Policy (and was not included in
any exception to the representation in Section
2.03(b)(iv)) and that such Mortgage Loan has a current
Loan-to-Value Ratio in excess of 80% then the Master
Servicer shall use its reasonable efforts to obtain and
maintain a Primary Insurance Policy to the extent that
such a policy is obtainable at a reasonable price. The
Master Servicer shall not cancel or refuse to renew any
such Primary Insurance Policy applicable to a
Nonsubserviced Mortgage Loan, and no Subservicing
Agreement shall permit any Subservicer to cancel or
refuse to renew any such Primary Insurance Policy
applicable to a Mortgage Loan subserviced by it, that
is in effect at the date of the initial issuance of the
Certificates and is required to be kept in force
hereunder unless the replacement Primary Insurance
Policy for such canceled or non-renewed policy is
maintained with an insurer whose claims-paying ability
is acceptable to each Rating Agency for mortgage pass-
through certificates having a rating equal to or better
than the lower of the then-current rating or the rating
assigned to the Certificates as of the Closing Date by
such Rating Agency.
(b) In connection with its activities as
administrator and servicer of the Mortgage Loans, the
Master Servicer agrees to present, and each
Subservicing Agreement shall require the related
Subservicer to present, on behalf of the Master
Servicer, the Subservicer, if any, the Trustee and
Certificateholders, claims to the Insurer under any
Primary Insurance Policies, in a timely manner in
accordance with such policies, and, in this regard, to
take or cause to be taken such reasonable action as
shall be necessary to permit recovery under any Primary
Insurance Policies respecting defaulted Mortgage Loans.
Pursuant to Section 3.07, any Insurance Proceeds
collected by or remitted to the Master Servicer under
any Primary Insurance Policies shall be deposited in
the Custodial Account, subject to withdrawal pursuant
to Section 3.10.
Section 3.12. Maintenance of Fire Insurance
and Omissions and Fidelity
Coverage.
(a) The Master Servicer shall, and each
Subservicing Agreement shall require the related
Subservicer to, cause to be maintained for each
Mortgage Loan fire insurance with extended coverage in
an amount which is equal to the lesser of the principal
balance owing on such Mortgage Loan or 100 percent of
the insurable value of the improvements; provided,
however, that such coverage may not be less than the
minimum amount required to fully compensate for any
loss or damage on a replacement cost basis. To the
extent it may do so without breaching the related
Subservicing Agreement, the Master Servicer shall
replace any Subservicer that does not cause such
insurance, to the extent it is available, to be
maintained. The Master Servicer shall also cause to be
maintained on property acquired upon foreclosure, or
deed in lieu of foreclosure, of any Mortgage Loan
(other than a Cooperative Loan), fire insurance with
extended coverage in an amount which is at least equal
to the amount necessary to avoid the application of any
co-insurance clause contained in the related hazard
insurance policy. Pursuant to Section 3.07, any
amounts collected by the Master Servicer under any such
policies (other than amounts to be applied to the
restoration or repair of the related Mortgaged Property
or property thus acquired or amounts released to the
Mortgagor in accordance with the Master Servicer's
normal servicing procedures) shall be deposited in the
Custodial Account, subject to withdrawal pursuant to
Section 3.10. Any cost incurred by the Master Servicer
in maintaining any such insurance shall not, for the
purpose of calculating monthly distributions to
Certificateholders, be added to the amount owing under
the Mortgage Loan, notwithstanding that the terms of
the Mortgage Loan so permit. Such costs shall be
recoverable by the Master Servicer out of related late
payments by the Mortgagor or out of Insurance Proceeds
and Liquidation Proceeds to the extent permitted by
Section 3.10 or Section 4.02(a). It is understood and
agreed that no earthquake or other additional insurance
is to be required of any Mortgagor or maintained on
property acquired in respect of a Mortgage Loan other
than pursuant to such applicable laws and regulations
as shall at any time be in force and as shall require
such additional insurance. When the improvements
securing a Mortgage Loan (other than a Cooperative
Loan) are located at the time of origination of such
Mortgage Loan in a federally designated special flood
hazard area, the Master Servicer shall cause flood
insurance (to the extent available) to be maintained in
respect thereof. Such flood insurance shall be in an
amount equal to the lesser of (i) the amount required
to compensate for any loss or damage to the Mortgaged
Property on a replacement cost basis and (ii) the
maximum amount of such insurance available for the
related Mortgaged Property under the national flood
insurance program (assuming that the area in which such
Mortgaged Property is located is participating in such
program).
In the event that the Master Servicer shall obtain
and maintain a blanket fire insurance policy with
extended coverage insuring against hazard losses on all
of the Mortgage Loans, it shall conclusively be deemed
to have satisfied its obligations as set forth in the
first sentence of this Section 3.12(a), it being
understood and agreed that such policy may contain a
deductible clause, in which case the Master Servicer
shall, in the event that there shall not have been
maintained on the related Mortgaged Property a policy
complying with the first sentence of this Section
3.12(a) and there shall have been a loss which would
have been covered by such policy, deposit in the
Certificate Account the amount not otherwise payable
under the blanket policy because of such deductible
clause. Any such deposit by the Master Servicer shall
be made on the Certificate Account Deposit Date next
preceding the Distribution Date which occurs in the
month following the month in which payments under any
such policy would have been deposited in the Custodial
Account. In connection with its activities as
administrator and servicer of the Mortgage Loans, the
Master Servicer agrees to present, on behalf of itself,
the Trustee and Certificateholders, claims under any
such blanket policy.
(b) The Master Servicer shall obtain and maintain
at its own expense and keep in full force and effect
throughout the term of this Agreement a blanket
fidelity bond and an errors and omissions insurance
policy covering the Master Servicer's officers and
employees and other persons acting on behalf of the
Master Servicer in connection with its activities under
this Agreement. The amount of coverage shall be at
least equal to the coverage that would be required by
FNMA or FHLMC, whichever is greater, with respect to
the Master Servicer if the Master Servicer were
servicing and administering the Mortgage Loans for FNMA
or FHLMC. In the event that any such bond or policy
ceases to be in effect, the Master Servicer shall
obtain a comparable replacement bond or policy from an
issuer or insurer, as the case may be, meeting the
requirements, if any, of the Program Guide and
acceptable to the Company. Coverage of the Master
Servicer under a policy or bond obtained by an
Affiliate of the Master Servicer and providing the
coverage required by this Section 3.12(b) shall satisfy
the requirements of this Section 3.12(b).
Section 3.13. Enforcement of Due-on-Sale
Clauses; Assumption and
Modification Agreements;
Certain Assignments.
(a) When any Mortgaged Property is conveyed by
the Mortgagor, the Master Servicer or Subservicer, to
the extent it has knowledge of such conveyance, shall
enforce any due-on-sale clause contained in any
Mortgage Note or Mortgage, to the extent permitted
under applicable law and governmental regulations, but
only to the extent that such enforcement will not
adversely affect or jeopardize coverage under any
Required Insurance Policy. Notwithstanding the
foregoing:
(i) the Master Servicer shall not be deemed
to be in default under this Section 3.13(a) by
reason of any transfer or assumption which the
Master Servicer is restricted by law from
preventing; and
(ii) if the Master Servicer determines that
it is reasonably likely that any Mortgagor will
bring, or if any Mortgagor does bring, legal
action to declare invalid or otherwise avoid
enforcement of a due-on-sale clause contained in
any Mortgage Note or Mortgage, the Master Servicer
shall not be required to enforce the due-on-sale
clause or to contest such action.
(b) Subject to the Master Servicer's duty to
enforce any due-on-sale clause to the extent set forth
in Section 3.13(a), in any case in which a Mortgaged
Property is to be conveyed to a Person by a Mortgagor,
and such Person is to enter into an assumption or
modification agreement or supplement to the Mortgage
Note or Mortgage which requires the signature of the
Trustee, or if an instrument of release signed by the
Trustee is required releasing the Mortgagor from
liability on the Mortgage Loan, the Master Servicer is
authorized, subject to the requirements of the sentence
next following, to execute and deliver, on behalf of
the Trustee, the assumption agreement with the Person
to whom the Mortgaged Property is to be conveyed and
such modification agreement or supplement to the
Mortgage Note or Mortgage or other instruments as are
reasonable or necessary to carry out the terms of the
Mortgage Note or Mortgage or otherwise to comply with
any applicable laws regarding assumptions or the
transfer of the Mortgaged Property to such Person;
provided, however, none of such terms and requirements
shall both constitute a "significant modification"
effecting an exchange or reissuance of such Mortgage
Loan under the Code (or final, temporary or proposed
Treasury Regulations promulgated thereunder) and cause
the Trust Fund to fail to qualify as such under the
Code. The Master Servicer shall execute and deliver
such documents only if it reasonably determines that
(i) its execution and delivery thereof will not
conflict with or violate any terms of this Agreement or
cause the unpaid balance and interest on the Mortgage
Loan to be uncollectible in whole or in part, (ii) any
required consents of insurers under any Required
Insurance Policies have been obtained and (iii)
subsequent to the closing of the transaction involving
the assumption or transfer (A) the Mortgage Loan will
continue to be secured by a first mortgage lien
pursuant to the terms of the Mortgage, (B) such
transaction will not adversely affect the coverage
under any Required Insurance Policies, (C) the Mortgage
Loan will fully amortize over the remaining term
thereof, (D) no material term of the Mortgage Loan
(including the interest rate on the Mortgage Loan) will
be altered nor will the term of the Mortgage Loan be
changed and (E) if the seller/transferor of the
Mortgaged Property is to be released from liability on
the Mortgage Loan, such release will not (based on the
Master Servicer's or Subservicer's good faith
determination) adversely affect the collectability of
the Mortgage Loan. Upon receipt of appropriate
instructions from the Master Servicer in accordance
with the foregoing, the Trustee shall execute any
necessary instruments for such assumption or
substitution of liability as directed by the Master
Servicer. Upon the closing of the transactions
contemplated by such documents, the Master Servicer
shall cause the originals or true and correct copies of
the assumption agreement, the release (if any), or the
modification or supplement to the Mortgage Note or
Mortgage to be delivered to the Trustee or the
Custodian and deposited with the Mortgage File for such
Mortgage Loan. Any fee collected by the Master
Servicer or such related Subservicer for entering into
an assumption or substitution of liability agreement
will be retained by the Master Servicer or such
Subservicer as additional servicing compensation.
(c) The Master Servicer or the related
Subservicer, as the case may be, shall be entitled to
approve a request from a Mortgagor for a partial
release of the related Mortgaged Property, the granting
of an easement thereon in favor of another Person, any
alteration or demolition of the related Mortgaged
Property or other similar matters if it has determined,
exercising its good faith business judgment in the same
manner as it would if it were the owner of the related
Mortgage Loan, that the security for, and the timely
and full collectability of, such Mortgage Loan would
not be adversely affected thereby and that the Trust
Fund would fail to continue to qualify as a REMIC under
the Code as a result thereof. Any fee collected by the
Master Servicer or the related Subservicer for
processing such a request will be retained by the
Master Servicer or such Subservicer as additional
servicing compensation.
(d) Subject to any other applicable terms and
conditions of this Agreement, the Trustee and Master
Servicer shall be entitled to approve an assignment in
lieu of satisfaction with respect to any Mortgage Loan,
provided the obligee with respect to such Mortgage Loan
following such proposed assignment provides the Trustee
and Master Servicer with a "Lender Certification for
Assignment of Mortgage Loan" in the form attached
hereto as Exhibit O, in form and substance satisfactory
to the Trustee and Master Servicer, providing the
following: (i) that the Mortgage Loan is secured by
Mortgaged Property located in a jurisdiction in which
an assignment in lieu of satisfaction is required to
preserve lien priority, minimize or avoid mortgage
recording taxes or otherwise comply with, or facilitate
a refinancing under, the laws of such jurisdiction;
(ii) that the substance of the assignment is, and is
intended to be, a refinancing of such Mortgage Loan and
that the form of the transaction is solely to comply
with, or facilitate the transaction under, such local
laws; (iii) that the Mortgage Loan following the
proposed assignment will have a rate of interest at
least 0.25 percent below or above the rate of interest
on such Mortgage Loan prior to such proposed
assignment; and (iv) that such assignment is at the
request of the borrower under the related Mortgage
Loan. Upon approval of an assignment in lieu of
satisfaction with respect to any Mortgage Loan, the
Master Servicer shall receive cash in an amount equal
to the unpaid principal balance of and accrued interest
on such Mortgage Loan and the Master Servicer shall
treat such amount as a Principal Prepayment in Full
with respect to such Mortgage Loan for all purposes
hereof.
Section 3.14. Realization Upon Defaulted
Mortgage Loans.
(a) The Master Servicer shall foreclose upon or
otherwise comparably convert (which may include an REO
Acquisition) the ownership of properties securing such
of the Mortgage Loans as come into and continue in
default and as to which no satisfactory arrangements
can be made for collection of delinquent payments
pursuant to Section 3.07. In connection with such
foreclosure or other conversion, the Master Servicer
shall, consistent with Section 3.11, follow such
practices and procedures as it shall deem necessary or
advisable, as shall be normal and usual in its general
mortgage servicing activities and as shall be required
or permitted by the Program Guide; provided that the
Master Servicer shall not be liable in any respect
hereunder if the Master Servicer is acting in
connection with any such foreclosure or other
conversion in a manner that is consistent with the
provisions of this Agreement. The Master Servicer,
however, shall not be required to expend its own funds
in connection with any foreclosure, or attempted
foreclosure which is not completed, or towards the
restoration of any property unless it shall determine
(i) that such restoration and/or foreclosure will
increase the proceeds of liquidation of the Mortgage
Loan to Holders of Certificates of one or more Classes
after reimbursement to itself for such expenses and
(ii) that such expenses will be recoverable to it
through Liquidation Proceeds, Insurance Proceeds, or
REO Proceeds (respecting which it shall have priority
for purposes of withdrawals from the Custodial Account
pursuant to Section 3.10, whether or not such expenses
are actually recoverable from related Liquidation
Proceeds, Insurance Proceeds or REO Proceeds). In the
event of a determination by the Master Servicer
pursuant to this Section 3.14(a), the Master Servicer
shall be entitled to reimbursement of its funds so
expended pursuant to Section 3.10. Concurrently with
the foregoing, the Master Servicer may pursue any
remedies that may be available in connection with a
breach of a representation and warranty with respect to
any such Mortgage Loan in accordance with Sections 2.03
and 2.04. However, the Master Servicer is not required
to continue to pursue both foreclosure (or similar
remedies) with respect to the Mortgage Loans and
remedies in connection with a breach of a
representation and warranty if the Master Servicer
determines in its reasonable discretion that one such
remedy is more likely to result in a greater recovery
as to the Mortgage Loan. Upon the occurrence of a Cash
Liquidation or REO Disposition, following the deposit
in the Custodial Account of all Insurance Proceeds,
Liquidation Proceeds and other payments and recoveries
referred to in the definition of "Cash Liquidation" or
"REO Disposition," as applicable, upon receipt by the
Trustee of written notification of such deposit signed
by a Servicing Officer, the Trustee or any Custodian,
as the case may be, shall release to the Master
Servicer the related Mortgage File and the Trustee
shall execute and deliver such instruments of transfer
or assignment prepared by the Master Servicer, in each
case without recourse, as shall be necessary to vest in
the Master Servicer or its designee, as the case may
be, the related Mortgage Loan, and thereafter such
Mortgage Loan shall not be part of the Trust Fund.
Notwithstanding the foregoing or any other provision of
this Agreement, in the Master Servicer's sole
discretion with respect to any defaulted Mortgage Loan
or REO Property as to either of the following
provisions, (i) a Cash Liquidation or REO Disposition
may be deemed to have occurred if substantially all
amounts expected by the Master Servicer to be received
in connection with the related defaulted Mortgage Loan
or REO Property have been received, and (ii) for
purposes of determining the amount of any Liquidation
Proceeds, Insurance Proceeds, REO Proceeds or any other
unscheduled collections or the amount of any Realized
Loss, the Master Servicer may take into account minimal
amounts of additional receipts expected to be received
or any estimated additional liquidation expenses
expected to be incurred in connection with the related
defaulted Mortgage Loan or REO Property.
(b) In the event that title to any Mortgaged
Property is acquired by the Trust Fund as an REO
Property by foreclosure or by deed in lieu of
foreclosure, the deed or certificate of sale shall be
issued to the Trustee or to its nominee on behalf of
Certificateholders. Notwithstanding any such
acquisition of title and cancellation of the related
Mortgage Loan, such REO Property shall (except as
otherwise expressly provided herein) be considered to
be an Outstanding Mortgage Loan held in the Trust Fund
until such time as the REO Property shall be sold.
Consistent with the foregoing for purposes of all
calculations hereunder so long as such REO Property
shall be considered to be an Outstanding Mortgage Loan
it shall be assumed that, notwithstanding that the
indebtedness evidenced by the related Mortgage Note
shall have been discharged, such Mortgage Note and the
related amortization schedule in effect at the time of
any such acquisition of title (after giving effect to
any previous Curtailments and before any adjustment
thereto by reason of any bankruptcy or similar
proceeding or any moratorium or similar waiver or grace
period) remain in effect.
(c) In the event that the Trust Fund acquires any
REO Property as aforesaid or otherwise in connection
with a default or imminent default on a Mortgage Loan,
the Master Servicer shall dispose of such REO Property
within two years after its acquisition by the Trust
Fund for purposes of Section 860G(a)(8) of the Code or,
at the expense of the Trust Fund, request, more than 60
days before the day on which the two-year grace period
would otherwise expire, an extension of the two-year
grace period unless the Master Servicer obtains for the
Trustee an Opinion of Counsel, addressed to the Trustee
and the Master Servicer, to the effect that the holding
by the Trust Fund of such REO Property subsequent to
such two-year period will not result in the imposition
of taxes on "prohibited transactions" as defined in
Section 860F of the Code or cause the Trust Fund to
fail to qualify as a REMIC at any time that any
Certificates are outstanding, in which case the Trust
Fund may continue to hold such REO Property (subject to
any conditions contained in such Opinion of Counsel).
The Master Servicer shall be entitled to be reimbursed
from the Custodial Account for any costs incurred in
obtaining such Opinion of Counsel, as provided in
Section 3.10. Notwithstanding any other provision of
this Agreement, no REO Property acquired by the Trust
Fund shall be rented (or allowed to continue to be
rented) or otherwise used by or on behalf of the Trust
Fund in such a manner or pursuant to any terms that
would (i) cause such REO Property to fail to qualify as
"foreclosure property" within the meaning of Section
860G(a)(8) of the Code or (ii) subject the Trust Fund
to the imposition of any federal income taxes on the
income earned from such REO Property, including any
taxes imposed by reason of Section 860G(c) of the Code,
unless the Master Servicer has agreed to indemnify and
hold harmless the Trust Fund with respect to the
imposition of any such taxes.
(d) The proceeds of any Cash Liquidation, REO
Disposition or purchase or repurchase of any Mortgage
Loan pursuant to the terms of this Agreement, as well
as any recovery resulting from a collection of
Liquidation Proceeds, Insurance Proceeds or REO
Proceeds, will be applied in the following order of
priority: first, to reimburse the Master Servicer or
the related Subservicer in accordance with Section
3.10(a)(ii); second, to the Administrator, as recovery
of any unpaid Administration Fee; third, to the
Certificateholders and Norwest or its assignee on a
pari passu basis to the extent of accrued and unpaid
interest on the Mortgage Loan, and any related REO
Imputed Interest, at the sum of the Net Mortgage Rate
plus the Administration Fee Rate, respectively, or the
Spread Rate, to the Due Date prior to the Distribution
Date on which such amounts are to be distributed;
fourth, to the Certificateholders as a recovery of
principal on the Mortgage Loan (or REO Property);
fifth, to all Servicing Fees and Subservicing Fees
payable therefrom (and the Master Servicer and the
Subservicer shall have no claims for any deficiencies
with respect to such fees which result from the
foregoing allocation); and sixth, to Foreclosure
Profits.
(e) The Master Servicer shall take into account
the existence of any hazardous substances, hazardous
wastes or solid wastes, as such terms are defined in
the Comprehensive Environmental Response Compensation
and Liability Act, the Resource Conservation and
Recovery Act of 1976, or other federal, state or local
environmental legislation, on a Mortgaged Property in
determining whether to foreclose upon or otherwise
comparably convert the ownership of such Mortgaged
Property.
Section 3.15. Trustee to Cooperate;
Release of Mortgage Files.
(a) Upon becoming aware of the payment in full of
any Mortgage Loan, or upon the receipt by the Master
Servicer of a notification that payment in full will be
escrowed in a manner customary for such purposes, the
Master Servicer will immediately notify the Trustee (if
it holds the related Mortgage File) or the Custodian by
a certification of a Servicing Officer (which
certification shall include a statement to the effect
that all amounts received or to be received in
connection with such payment which are required to be
deposited in the Custodial Account pursuant to Section
3.07 have been or will be so deposited), substantially
in one of the forms attached hereto as Exhibit H
requesting delivery to it of the Mortgage File. Upon
receipt of such certification and request, the Trustee
shall promptly release, or cause the Custodian to
release, the related Mortgage File to the Master
Servicer. The Master Servicer is authorized to execute
and deliver to the Mortgagor the request for
reconveyance, deed of reconveyance or release or
satisfaction of mortgage or such instrument releasing
the lien of the Mortgage, together with the Mortgage
Note with, as appropriate, written evidence of
cancellation thereon. No expenses incurred in
connection with any instrument of satisfaction or deed
of reconveyance shall be chargeable to the Custodial
Account or the Certificate Account.
(b) From time to time as is appropriate for the
servicing or foreclosure of any Mortgage Loan, the
Master Servicer shall deliver to the Custodian, with a
copy to the Trustee, a certificate of a Servicing
Officer substantially in one of the forms attached as
Exhibit H hereto, requesting that possession of all, or
any document constituting part of, the Mortgage File be
released to the Master Servicer and certifying as to
the reason for such release and that such release will
not invalidate any insurance coverage provided in
respect of the Mortgage Loan under any Required
Insurance Policy. Upon receipt of the foregoing, the
Trustee shall deliver, or cause the Custodian to
deliver, the Mortgage File or any document therein to
the Master Servicer. The Master Servicer shall cause
each Mortgage File or any document therein so released
to be returned to the Trustee, or the Custodian as
agent for the Trustee when the need therefor by the
Master Servicer no longer exists, unless (i) the
Mortgage Loan has been liquidated and the Liquidation
Proceeds relating to the Mortgage Loan have been
deposited in the Custodial Account or (ii) the Mortgage
File or such document has been delivered directly or
through a Subservicer to an attorney, or to a public
trustee or other public official as required by law,
for purposes of initiating or pursuing legal action or
other proceedings for the foreclosure of the Mortgaged
Property either judicially or non-judicially, and the
Master Servicer has delivered directly or through a
Subservicer to the Trustee a certificate of a Servicing
Officer certifying as to the name and address of the
Person to which such Mortgage File or such document was
delivered and the purpose or purposes of such delivery.
In the event of the liquidation of a Mortgage Loan, the
Trustee shall deliver the Request for Release with
respect thereto to the Master Servicer upon deposit of
the related Liquidation Proceeds in the Custodial
Account.
(c) The Trustee or the Master Servicer on the
Trustee's behalf shall execute and deliver to the
Master Servicer, if necessary, any court pleadings,
requests for trustee's sale or other documents
necessary to the foreclosure or trustee's sale in
respect of a Mortgaged Property or to any legal action
brought to obtain judgment against any Mortgagor on the
Mortgage Note or Mortgage or to obtain a deficiency
judgment, or to enforce any other remedies or rights
provided by the Mortgage Note or Mortgage or otherwise
available at law or in equity. Together with such
documents or pleadings (if signed by the Trustee), the
Master Servicer shall deliver to the Trustee a
certificate of a Servicing Officer requesting that such
pleadings or documents be executed by the Trustee and
certifying as to the reason such documents or pleadings
are required and that the execution and delivery
thereof by the Trustee will not invalidate any
insurance coverage under any Required Insurance Policy
or invalidate or otherwise affect the lien of the
Mortgage, except for the termination of such a lien
upon completion of the foreclosure or trustee's sale.
Section 3.16. Servicing and Other
Compensation; Compensating
Interest.
(a) The Master Servicer, as compensation for its
activities hereunder, shall be entitled to receive on
each Distribution Date the amounts provided for by
clauses (iii), (iv), (v) and (vi) of Section 3.10(a),
subject to clause (e) below. The amount of servicing
compensation provided for in such clauses shall be
accounted for on a Mortgage Loan-by-Mortgage Loan
basis. In the event that Liquidation Proceeds,
Insurance Proceeds and REO Proceeds (net of amounts
reimbursable therefrom pursuant to Section 3.10(a)(ii))
in respect of a Cash Liquidation or REO Disposition
exceed the unpaid principal balance of such Mortgage
Loan plus unpaid interest accrued thereon (including
REO Imputed Interest) at the related Net Mortgage Rate
plus the Administration Fee Rate, the Master Servicer
shall be entitled to retain therefrom and to pay to
itself and/or the related Subservicer any Servicing Fee
or Subservicing Fee considered to be accrued but
unpaid.
(b) Additional servicing compensation in the form
of prepayment charges, assumption fees, late payment
charges, investment income on amounts in the Custodial
Account or the Certificate Account or otherwise shall
be retained by the Master Servicer or the Subservicer
to the extent provided herein, subject to clause (e)
below.
(c) The Master Servicer shall be required to pay,
or cause to be paid, all expenses incurred by it in
connection with its servicing activities hereunder
(including payment of premiums for the Primary
Insurance Policies, if any, to the extent such premiums
are not required to be paid by the related Mortgagors,
and the fees and expenses of the Trustee and any
Custodian) and servicing compensation of any
Subservicer to the extent not retained by it) and shall
not be entitled to reimbursement therefor except as
specifically provided in Sections 3.10 and 3.14.
(d) The Master Servicer's right to receive
servicing compensation may not be transferred in whole
or in part except in connection with the transfer of
all of its responsibilities and obligations of the
Master Servicer under this Agreement (or in connection
with the execution and delivery of a Subservicing
Agreement).
(e) Notwithstanding any other provision herein,
the amount of servicing compensation that the Master
Servicer shall be entitled to receive for its
activities hereunder for the period ending on each
Distribution Date shall be reduced (but not below zero)
by an amount equal to Compensating Interest (if any)
for such Distribution Date. Such reduction shall be
applied during such period as follows: first, to any
Servicing Fee or Subservicing Fee to which the Master
Servicer is entitled pursuant to Section 3.10(a)(iii);
second, to any amounts of servicing compensation to
which the Master Servicer is entitled pursuant to
Section 3.10(a)(v) or (vi). In making such reduction,
the Master Servicer (i) will not withdraw from the
Custodial Account any such amount representing all or a
portion of the Servicing Fee to which it is entitled
pursuant to Section 3.10(a)(iii); (ii) will not
withdraw from the Custodial Account or Certificate
Account any such amount to which it is entitled
pursuant to Section 3.07(c) or 4.01(b) and (iii) will
not withdraw from the Custodial Account any such amount
of servicing compensation to which it is entitled
pursuant to Section 3.10(a)(v) or (vi).
Section 3.17. Reports to the Trustee
and the Company.
Not later than fifteen days after each
Distribution Date, the Master Servicer shall forward to
the Trustee and the Company a statement, certified by a
Servicing Officer, setting forth the status of the
Custodial Account as of the close of business on such
Distribution Date as it relates to the Mortgage Loans
and showing, for the period covered by such statement,
the aggregate of deposits in or withdrawals from the
Custodial Account in respect of the Mortgage Loans for
each category of deposit specified in Section 3.07 and
each category of withdrawal specified in Section 3.10.
Section 3.18. Annual Statement as to
Compliance.
The Master Servicer will deliver to the
Company, the Administrator and the Trustee on or before
March 31 of each year, beginning with the first March
31 that occurs at least six months after the Cut-off
Date, an Officers' Certificate stating, as to each
signer thereof, that (i) a review of the activities of
the Master Servicer during the preceding calendar year
and of its performance under the pooling and servicing
agreements, including this Agreement, has been made
under such officers' supervision, (ii) to the best of
such officers' knowledge, based on such review, the
Master Servicer has fulfilled all of its material
obligations in all material respects throughout such
year, or, if there has been a default in the
fulfillment in all material respects of any such
obligation relating to this Agreement, specifying each
such default known to such officer and the nature and
status thereof and (iii) to the best of such officers'
knowledge, each Subservicer has fulfilled its material
obligations under its Subservicing Agreement in all
material respects, or if there has been a material
default in the fulfillment of such obligations relating
to this Agreement, specifying such default known to
such officer and the nature and status thereof.
Section 3.19. Annual Independent Public
Accountants' Servicing Report.
On or before March 31 of each year, beginning
with the first March 31 that occurs at least six months
after the Cut-off Date, the Master Servicer at its
expense shall cause a firm of Independent public
accountants which is a member of the American Institute
of Certified Public Accountants to furnish a statement
to the Company and the Trustee to the effect that such
firm has examined certain documents and records
relating to the servicing of the mortgage loans under
pooling and servicing agreements (including this
Agreement) substantially similar one to another (such
statement to have attached thereto a schedule setting
forth the pooling and servicing agreements covered
thereby, including this Agreement) and that, on the
basis of such examination conducted substantially in
compliance with the Uniform Single Audit Program for
Mortgage Bankers or the Audit Program for Mortgages
serviced for FHLMC, such servicing has been conducted
in compliance with such pooling and servicing
agreements except for such significant exceptions or
errors in records that, in the opinion of such firm,
the Uniform Single Audit Program for Mortgage Bankers
or the Audit Program for Mortgages serviced for FHLMC
requires it to report. In rendering such statement,
such firm may rely, as to matters relating to direct
servicing of mortgage loans by Subservicers, upon
comparable statements for examinations conducted
substantially in compliance with the Uniform Single
Audit Program for Mortgage Bankers or the Audit Program
for Mortgages serviced for FHLMC (rendered within one
year of such statement) of Independent public
accountants with respect to the related Subservicer.
For purposes of such statement, such firm may
conclusively assume that all pooling and servicing
agreements among the Company, the Master Servicer and
the Trustee relating to Mortgage Pass-Through
Certificates evidencing an interest in first mortgage
loans are substantially similar one to another except
for any such pooling and servicing agreement which, by
its terms, specifically states otherwise.
Section 3.20. Rights of the Company in
Respect of the Master
Servicer.
The Master Servicer shall afford the Company,
upon reasonable notice, during normal business hours
access to all records maintained by the Master Servicer
in respect of its rights and obligations hereunder and
access to officers of the Master Servicer responsible
for such obligations. Upon request, the Master
Servicer shall furnish the Company with its most recent
financial statements and such other information as the
Master Servicer possesses regarding its business,
affairs, property and condition, financial or
otherwise. The Master Servicer shall also cooperate
with all reasonable requests for information including,
but not limited to, notices, tapes and copies of files,
regarding itself, the Mortgage Loans or the
Certificates from any Person or Persons identified by
the Company or Norwest. The Company may, but is not
obligated to, enforce the obligations of the Master
Servicer hereunder and may, but is not obligated to,
perform, or cause a designee to perform, any defaulted
obligation of the Master Servicer hereunder or exercise
the rights of the Master Servicer hereunder; provided
that the Master Servicer shall not be relieved of any
of its obligations hereunder by virtue of such
performance by the Company or its designee. The
Company shall not have any responsibility or liability
for any action or failure to act by the Master Servicer
and is not obligated to supervise the performance of
the Master Servicer under this Agreement or otherwise.
Section 3.21. Administration of Buydown
Funds.
(a) With respect to any Buydown Mortgage Loan,
the Subservicer has deposited Buydown Funds in an
account that satisfies the requirements for a
Subservicing Account (the "Buydown Account"). The
Master Servicer shall cause the Subservicing Agreement
to require that upon receipt from the Mortgagor of the
amount due on a Due Date for each Buydown Mortgage
Loan, the Subservicer will withdraw from the Buydown
Account the predetermined amount that, when added to
the amount due on such date from the Mortgagor, equals
the full Monthly Payment and transmit that amount in
accordance with the terms of the Subservicing Agreement
to the Master Servicer together with the related
payment made by the Mortgagor or advanced by the
Subservicer.
(b) If the Mortgagor on a Buydown Mortgage Loan
prepays such loan in its entirety during the period
(the "Buydown Period") when Buydown Funds are required
to be applied to such Buydown Mortgage Loan, the
Subservicer shall be required to withdraw from the
Buydown Account and remit any Buydown Funds remaining
in the Buydown Account in accordance with the related
buydown agreement. The amount of Buydown Funds which
may be remitted in accordance with the related buydown
agreement may reduce the amount required to be paid by
the Mortgagor to fully prepay the related Mortgage
Loan. If the Mortgagor on a Buydown Mortgage Loan
defaults on such Mortgage Loan during the Buydown
Period and the property securing such Buydown Mortgage
Loan is sold in the liquidation thereof (either by the
Master Servicer or the insurer under any related
Primary Insurance Policy), the Subservicer shall be
required to withdraw from the Buydown Account the
Buydown Funds for such Buydown Mortgage Loan still held
in the Buydown Account and remit the same to the Master
Servicer in accordance with the terms of the
Subservicing Agreement for deposit in the Custodial
Account or, if instructed by the Master Servicer, pay
to the insurer under any related Primary Insurance
Policy if the Mortgaged Property is transferred to such
insurer and such insurer pays all of the loss incurred
in respect of such default. Any amount so remitted
pursuant to the preceding sentence will be deemed to
reduce the amount owed on the Mortgage Loan.
ARTICLE IV
PAYMENTS TO CERTIFICATEHOLDERS
Section 4.01. Certificate Account.
(a) The Trustee shall establish and maintain a
Certificate Account in which the Master Servicer shall
cause to be deposited on behalf of the Trustee on or
before 2:00 P.M. New York time on each Certificate
Account Deposit Date by wire transfer of immediately
available funds an amount equal to the sum of (i) any
Advance for the immediately succeeding Distribution
Date, (ii) any amount required to be deposited in the
Certificate Account pursuant to Section 3.12(a), (iii)
any amount required to be deposited in the Certificate
Account pursuant to Section 3.16(e) or Section 4.07,
(iv) any amount required to be paid pursuant to Section
9.01 and (v) all other amounts constituting the
Available Distribution Amount for the immediately
succeeding Distribution Date.
(b) On each Distribution Date, prior to making
any other distributions referred to in Section 4.02
herein, the Trustee shall withdraw from the Certificate
Account and pay to the Administrator, by wire transfer
of immediately available funds, the Administration Fee
for such Distribution Date.
(c) The Trustee shall, upon written request from
the Master Servicer, invest or cause the institution
maintaining the Certificate Account to invest the funds
in the Certificate Account in Permitted Investments
designated in the name of the Trustee for the benefit
of the Certificateholders, which shall mature not later
than the Business Day next preceding the Distribution
Date next following the date of such investment (except
that (i) any investment in the institution with which
the Certificate Account is maintained may mature on
such Distribution Date and (ii) any other investment
may mature on such Distribution Date if the Trustee
shall advance funds on such Distribution Date to the
Certificate Account in the amount payable on such
investment on such Distribution Date, pending receipt
thereof to the extent necessary to make distributions
on the Certificates) and shall not be sold or disposed
of prior to maturity. Subject to Section 3.16(e), all
income and gain realized from any such investment shall
be for the benefit of the Master Servicer and shall be
subject to its withdrawal or order from time to time.
The amount of any losses incurred in respect of any
such investments shall be deposited in the Certificate
Account by the Master Servicer out of its own funds
immediately as realized without any right of
reimbursement.
Section 4.02. Distributions.
(a) On each Distribution Date the Trustee or the
Paying Agent appointed by the Trustee, shall distribute
to the Master Servicer, in the case of a distribution
pursuant to Section 4.02(a)(iii), the amount required
to be distributed to the Master Servicer or a
Subservicer pursuant to Section 4.02(a)(iii), and to
each Certificateholder of record on the next preceding
Record Date (other than as provided in Section 9.01
respecting the final distribution) either in
immediately available funds (by wire transfer or
otherwise) to the account of such Certificateholder at
a bank or other entity having appropriate facilities
therefor, if such Certificateholder has so notified the
Master Servicer or the Paying Agent, as the case may
be, or, if such Certificateholder has not so notified
the Master Servicer or the Paying Agent by the Record
Date, by check mailed to such Certificateholder at the
address of such Holder appearing in the Certificate
Register such Certificateholder's share (based on the
aggregate of the Percentage Interests represented by
Certificates of the applicable Class held by such
Holder) of the following amounts, in the following
order of priority (subject to the provisions of
Sections 4.02(b) and 4.02(c)), in each case to the
extent of the Available Distribution Amount:
(i) first, to the Class A
Certificateholders (other than the Class A-11
Certificateholders), and Class R
Certificateholders on a pro rata basis based on
Accrued Certificate Interest payable thereon with
respect to such Distribution Date, Accrued
Certificate Interest on such Classes of
Certificates, as applicable, for such Distribution
Date, plus any Accrued Certificate Interest
thereon remaining unpaid from any previous
Distribution Date except as provided in the last
paragraph of this Section 4.02(a); and
(ii) (X) to the Class A-11
Certificateholders, the Class A-11 Principal
Distribution Amount; and
(Y) to the Class A Certificateholders
(other than the Class A-11 Certificateholders) and
Class R Certificateholders, in the priorities and
amounts set forth in Sections 4.02(b)(ii)-(iv),
4.02(c) and 4.02(d), the sum of the following
(applied to reduce the Certificate Principal
Balances of such Class A Certificates or Class R
Certificates, as applicable):
(A) the Senior Percentage for such
Distribution Date times the sum of the
following:
(1) the principal portion of each
Monthly Payment due during the related
Due Period on each Outstanding Mortgage
Loan (other than the related Discount
Fraction of the principal portion of
such payment with respect to a Discount
Mortgage Loan), whether or not received
on or prior to the related
Determination Date, minus the principal
portion of any Debt Service Reduction
(other than the related Discount
Fraction of the principal portion of
such Debt Service Reductions with
respect to each Discount Mortgage Loan)
which together with other Bankruptcy
Losses exceeds the Bankruptcy Amount;
(2) the Stated Principal Balance
of any Mortgage Loan repurchased during
the related Prepayment Period (or
deemed to have been so repurchased in
accordance with Section 3.07(b))
pursuant to Section 2.02, 2.03, 2.04 or
4.07 and the amount of any shortfall
deposited in the Custodial Account in
connection with the substitution of a
Deleted Mortgage Loan pursuant to
Section 2.03 or 2.04 during the related
Prepayment Period (other than the
related Discount Fraction of such
Stated Principal Balance or shortfall
with respect to a Discount Mortgage
Loan); and
(3) the principal portion of all
other unscheduled collections (other
than Principal Prepayments in Full and
Curtailments and amounts received in
connection with a Cash Liquidation or
REO Disposition of a Mortgage Loan
described in Section 4.02(a)(ii)(Y)(B),
including without limitation Insurance
Proceeds, Liquidation Proceeds and REO
Proceeds) received during the related
Prepayment Period (or deemed to have
been so received in accordance with
Section 3.07(b)) to the extent applied
by the Master Servicer as recoveries of
principal of the related Mortgage Loan
pursuant to Section 3.14 (other than
the related Discount Fraction of the
principal portion of such unscheduled
collections with respect to a Discount
Mortgage Loan);
(B) with respect to each Mortgage Loan
for which a Cash Liquidation or a REO
Disposition occurred during the related
Prepayment Period (or was deemed to have
occurred during such period in accordance
with Section 3.07(b)) and did not result in
any Excess Special Hazard Losses, Excess
Fraud Losses, Excess Bankruptcy Losses or
Extraordinary Losses, an amount equal to the
lesser of (a) the Adjusted Senior Percentage
for such Distribution Date times the Stated
Principal Balance of such Mortgage Loan
(other than the related Discount Fraction of
such Stated Principal Balance, with respect
to a Discount Mortgage Loan) and (b) the
Adjusted Senior Accelerated Distribution
Percentage for such Distribution Date times
the related unscheduled collections
(including without limitation Insurance
Proceeds, Liquidation Proceeds and REO
Proceeds) to the extent applied by the Master
Servicer as recoveries of principal of the
related Mortgage Loan pursuant to Section
3.14 (in each case other than the related
Discount Fraction of the principal portion of
such unscheduled collections, with respect to
a Discount Mortgage Loan included in Section
4.02(b)(i)(C));
(C) the Adjusted Senior Accelerated
Distribution Percentage for such Distribution
Date times the aggregate of all Principal
Prepayments in Full and Curtailments received
in the related Prepayment Period (other than
the related Discount Fraction of such
Principal Prepayments in Full and
Curtailments, with respect to a Discount
Mortgage Loan);
(D) any Excess Subordinate Principal
Amount for such Distribution Date;
(E) the Class A-5 Certificates' pro
rata share, based on the Certificate
Principal Balance thereof relative to the
aggregate Certificate Principal Balance of
the Class A-5 Certificates, Class M
Certificates and Class B Certificates of the
unscheduled collections and Principal
Prepayments referred to in clauses (B) and
(C) above, to the extent such receipts are
not payable to the other classes of Senior
Certificates;
(F) any amounts described in subsection
(ii)(Y), clauses (A), (B), (C) and (E) of
this Section 4.02(a), as determined for any
previous Distribution Date, which remain
unpaid after application of amounts
previously distributed pursuant to this
clause (F) to the extent that such amounts
are not attributable to Realized Losses which
have been allocated to the Class M
Certificates or Class B Certificates;
(iii) if the Certificate Principal
Balances of the Class M Certificates and Class B
Certificates have not been reduced to zero, to the
Master Servicer or a Subservicer, by remitting for
deposit to the Custodial Account, to the extent of
and in reimbursement for any Advances or
Subservicer Advances previously made with respect
to any Mortgage Loan or REO Property which remain
unreimbursed in whole or in part following the
Cash Liquidation or REO Disposition of such
Mortgage Loan or REO Property, minus any such
Advances that were made with respect to
delinquencies that ultimately constituted Excess
Special Hazard Losses, Excess Fraud Losses, Excess
Bankruptcy Losses or Extraordinary Losses;
(iv) to the Holders of the Class M-1
Certificates, the Accrued Certificate Interest
thereon for such Distribution Date, plus any
Accrued Certificate Interest thereon remaining
unpaid from any previous Distribution Date, except
as provided below;
(v) to the Holders of the Class M-1
Certificates, an amount equal to (x) the
Subordinate Principal Distribution Amount for such
Class of Certificates for such Distribution Date,
minus (y) the amount of any Class A-10 Collection
Shortfalls remaining unpaid for all previous
Distribution Dates, to the extent the amounts
available pursuant to clause (x) of Sections
4.02(a)(vii), (ix), (xi), (xiii) and (xv) are
insufficient therefor,applied in reduction of the
Certificate Principal Balance of the Class M-1
Certificates;
(vi) to the Holders of the Class M-2
Certificates, the Accrued Certificate Interest
thereon for such Distribution Date, plus any
Accrued Certificate Interest thereon remaining
unpaid from any previous Distribution Date, except
as provided below;
(vii) to the Holders of the Class M-2
Certificates, an amount equal to the Subordinate
Principal Distribution Amount for such Class of
Certificates for such Distribution Date, minus (y)
the amount of any Class A-11 Collection Shortfalls
remaining unpaid for all previous Distribution
Dates, to the extent the amounts available
pursuant to clause (x) of Sections 4.02(a)(ix),
(xi), (xiii) and (xv) are insufficient therefor,
applied in reduction of the Certificate Principal
Balance of the Class M-2 Certificates;
(viii) to the Holders of the Class M-3
Certificates, the Accrued Certificate Interest
thereon for such Distribution Date, plus any
Accrued Certificate Interest thereon remaining
unpaid from any previous Distribution Date, except
as provided below;
(ix) to the Holders of the Class M-3
Certificates, an amount equal to (x) the
Subordinate Principal Distribution Amount for such
Class of Certificates for such Distribution Date,
minus (y) the amount of any Class A-11 Collection
Shortfalls remaining unpaid for all previous
Distribution Dates, to the extent the amounts
available pursuant to clause (x) of Sections
4.02(a)(xi), (xiii) and (xv) are insufficient
therefor,applied in reduction of the Certificate
Principal Balance of the Class M-3 Certificates;
(x) to the Holders of the Class B-1
Certificates, the Accrued Certificate Interest
thereon for such Distribution Date, plus any
Accrued Certificate Interest thereon remaining
unpaid from any previous Distribution Date, except
as provided below;
(xi) to the Holders of the Class B-1
Certificates, an amount equal to (x) the
Subordinate Principal Distribution Amount for such
Class of Certificates for such Distribution Date,
minus (y) the amount of any Class A-11 Collection
Shortfalls remaining unpaid for all previous
Distribution Dates, to the extent the amounts
available pursuant to clause (x) of Sections
4.02(a)(xiii) and (xv) are insufficient
therefor,applied in reduction of the Certificate
Principal Balance of the Class B-1 Certificates;
(xii) to the Holders of the Class B-2
Certificates, the Accrued Certificate Interest
thereon for such Distribution Date, plus any
Accrued Certificate Interest thereon remaining
unpaid from any previous Distribution Date, except
as provided below;
(xiii) to the Holders of the Class B-2
Certificates, an amount equal to (x) the
Subordinate Principal Distribution Amount for such
Class of Certificates for such Distribution Date,
minus (y) the amount of any Class A-11 Collection
Shortfalls remaining unpaid for all previous
Distribution Dates, to the extent the amounts
available pursuant to clause (x) of Sections
4.02(a)(xv) are insufficient therefor,applied in
reduction of the Certificate Principal Balance of
the Class B-2 Certificates;
(xiv) to the Holders of the Class B-3
Certificates, an amount equal to the Accrued
Certificate Interest thereon for such Distribution
Date, plus any Accrued Certificate Interest
thereon remaining unpaid from any previous
Distribution Date, except as provided below;
(xv) to the Holders of the Class B-3
Certificates, an amount equal to (x) the
Subordinate Principal Distribution Amount for such
Class of Certificates for such Distribution Date,
minus (y) the amount of any Class A-11 Collection
Shortfalls remaining unpaid for all previous
Distribution Dates, applied in reduction of the
Certificate Principal Balance of the Class B-3
Certificates;
(xvi) to the Class A Certificateholders
and Class R Certificateholders in the priority set
forth in Section 4.02(b), the portion, if any, of
the Available Distribution Amount remaining after
the foregoing distributions, applied to reduce the
Certificate Principal Balances of such Class A and
Class R Certificates, but in no event more than
the aggregate of the outstanding Certificate
Principal Balances of each such Class of Class A
and Class R Certificates, and thereafter, to each
Class of Class M Certificates then outstanding
beginning with such Class with the lowest
numerical designation, any portion of the
Available Distribution Amount remaining after the
Class A Certificates and Class R Certificates have
been retired, applied to reduce the Certificate
Principal Balance of each such Class of Class M
Certificates, but in no event more than the
outstanding Certificate Principal Balance of each
such Class of Class M Certificates; and thereafter
to each such Class of Class B Certificates then
outstanding beginning with such Class with the
lowest numerical designation, any portion of the
Available Distribution Amount remaining after the
Class M Certificates have been retired, applied to
reduce the Certificate Principal Balance of each
such Class of Class B Certificates, but in no
event more than the outstanding Certificate
Principal Balance of each such Class of Class B
Certificates; and
(xvii) to the Class R Certificateholders,
the balance, if any, of the Available Distribution
Amount.
Notwithstanding the foregoing, on any Distribution
Date, with respect to the Class of Class B Certificates
outstanding on such Distribution Date with the highest
numerical designation, or in the event the Class B
Certificates are no longer outstanding, the Class of
Class M Certificates then outstanding with the highest
numerical designation, or in the event the Class B
Certificates and Class M Certificates are no longer
outstanding, the Class A and Class R Certificates,
Accrued Certificate Interest thereon remaining unpaid
from any previous Distribution Date will be
distributable only to the extent that such unpaid
Accrued Certificate Interest was attributable to
interest shortfalls relating to Nonrecoverable Advances
as determined by the Master Servicer with respect to
the related Mortgage Loan where such Mortgage Loan has
not yet been the subject of a Cash Liquidation or REO
Disposition.
(b) Distributions of principal on the Class A
Certificates and Class R Certificates on each
Distribution Date occurring prior to the occurrence of
the Credit Support Depletion Date will be made as
follows:
(i) first, to the Class A-11 Certificates,
until the Certificate Principal Balance thereof is
reduced to zero, an amount (the "Class A-11
Principal Distribution Amount") equal to the
aggregate of:
(A) the related Discount Fraction of the
principal portion of each Monthly Payment on
each Discount Mortgage Loan due during the
related Due Period, whether or not received
on or prior to the related Determination
Date, minus the Discount Fraction of the
principal portion of any related Debt Service
Reduction which together with other
Bankruptcy Losses exceeds the Bankruptcy
Amount;
(B) the related Discount Fraction of the
principal portion of all unscheduled
collections on each Discount Mortgage Loan
received during the preceding calendar month
(other than amounts received in connection
with a Cash Liquidation or REO Disposition of
a Discount Mortgage Loan described in clause
(C) below), including Principal Prepayments
in Full, Curtailments and repurchases
(including deemed repurchases under Section
3.07(b)) of Discount Mortgage Loans (or, in
the case of a substitution of a Deleted
Mortgage Loan, the Discount Fraction of the
amount of any shortfall deposited in the
Custodial Account in connection with such
substitution);
(C) in connection with the Final Disposition
of a Discount Mortgage Loan that did not
result in any Excess Special Hazard Losses,
Excess Fraud Losses, Excess Bankruptcy Losses
or Extraordinary Losses, an amount equal to
the lesser of (1) the applicable Discount
Fraction of the Stated Principal Balance of
such Discount Mortgage Loan immediately prior
to such Distribution Date and (2) the
aggregate amount of the collections on such
Discount Mortgage Loan to the extent applied
as recoveries of principal;
(D) any amounts allocable to principal for
any previous Distribution Date (calculated
pursuant to clauses (A) through (C) above)
that remain undistributed; and
(E) the amount of any Class A-11 Collection
Shortfalls for such Distribution Date and the
amount of any Class A-11 Collection
Shortfalls remaining unpaid for all previous
Distribution Dates, but only to the extent of
the Eligible Funds for such Distribution
Date;
(ii) an amount equal to the sum of (1)
the Class A-5 Certificates' pro rata portion,
based on the Certificate Principal Balance thereof
relative to the aggregate Certificate Principal
Balance of the Senior Certificates (other than the
Class A-10 Certificates), of the aggregate of the
amounts described in clauses (A), (D) and (F) of
Section 4.02(a)(ii)(Y) and (2) the amount
described in clause (E) of Section 4.02(a)(ii)(Y)
shall be distributed to the Class A-5
Certificates, provided that if the Senior
Principal Distribution Amount set forth in clauses
(A), (B), (C), (D), (E) and (F) of Section
4.02(a)(ii)(Y) is more than the balance of the
Available Distribution Amount remaining after the
Accrued Certificate Interest, the Excess Spread
and the Class A-11 Principal Distribution Amount
have been distributed, the amount paid to the
Class A-5 Certificates pursuant to this clause
(ii) shall be reduced by an amount equal to the
Class A-5 Certificates' pro rata share of such
difference.
(iii) the balance of the Senior
Principal Distribution Amount remaining after the
distribution described in clause 4.02(b)(ii) above
shall be distributed to the Class R Certificates,
in reduction of the Certificate Principal Balances
of such Certificates, until the Certificate
Principal Balance thereof is reduced to zero;
(iv) the balance, if any, of the Senior
Principal Distribution Amount remaining after the
distributions described in clauses 4.02(b)(ii) and
(iii) above shall be distributed as follows:
(A) first, 10.1725025665%,
31.3314317186%, 9.6660851619% and
48.8299805530% of such amount concurrently to
the Class A-1, Class A-2, Class A-6 and Class
A-10 Certificates, respectively, until the
Certificate Principal Balance of the Class A-
1 Certificates has been reduced to zero;
(B) second, 35.5458812890%,
10.0200323968% and 54.4340863142% of the
balance, if any, remaining after the
distributions described in clause (iv)(A)
above concurrently to the Class A-2, Class A-
6, and Class A-10 Certificates, respectively,
until the Certificate Principal Balance of
the Class A-6 Certificates has been reduced
to zero;
(C) third, 35.5458812890%,
10.0200323968% and 54.4340863142% of the
balance, if any, remaining after the
distributions described in clause (iv)(A) and
(B) above concurrently to the Class A-2,
Class A-7, and Class A-10 Certificates,
respectively, until the Certificate Principal
Balance of the Class A-2 Certificates has
been reduced to zero;
(D) fourth, 35.5458812890%,
10.0200323968% and 54.4340863142% of the
balance, if any, remaining after the
distributions described in clause (iv)(A),
(B), (C) and (D) above concurrently to the
Class A-8, Class A-7, and Class A-10
Certificates, respectively, until the
Certificate Principal Balance of the Class A-
10 Certificates has been reduced to zero;
(E) fifth, 35.5458812890%,
10.0200323968% and 54.4340863142% of the
balance, if any, remaining after the
distributions described in clause (iv)(A),
(B) and (C) above concurrently to the Class
A-8, Class A-7, and Class A-3 Certificates,
respectively, until the Certificate Principal
Balance of the Class A-8 and Class A-7
Certificates has been reduced to zero;
(F) sixth, the balance, if any,
remaining after the distributions described
in clauses (iv)(A), (B), (C), (D) and (E)
above to the Class A-3 Certificates until the
Certificate Principal Balance thereof has
been reduced to zero;
(G) seventh, the balance, if any,
remaining after the distributions described
in clauses (iv)(A), (B), (C), (D), (E) and
(F) above to the Class A-9 Certificates,
until the Certificate Principal Balance
thereof has been reduced to zero; and
(H) eighth, the balance, if any,
remaining after the distributions described
in clauses (iv)(A), (B), (C), (D), (E), (F)
and (G) above to the Class A-4, until the
Certificate Principal Balance thereof has
been reduced to zero; and
(c) On or after the occurrence of the Credit
Support Depletion Date but prior to the reduction of
the Certificate Principal Balance of the Class A-5
Certificates to zero, all priorities relating to
distributions as described above in respect of
principal among the various classes of Senior
Certificates (other than the Class A-11 Certificates)
will be disregarded and the Senior Principal
Distribution Amount will be distributed among all
classes of Senior Certificates (other than the Class A-
11 Certificates) pro rata in accordance with their
respective outstanding Certificate Principal Balances
and an amount equal to the Discount Fraction of the
principal portion of scheduled or unscheduled payments
received or advanced in respect of Discount Mortgage
Loans will be distributed to the Class A-11
Certificates and the Senior Interest Distribution
Amount will be distributed as set forth in Section
4.02(a)(i) above; provided that the aggregate amount
distributable to the Super Senior Certificates and the
Class A-5 Certificates in respect of the aggregate
Accrued Certificate Interest thereon and in respect of
their collective pro rata portion of the Senior
Principal Distribution Amount will be distributed among
such Certificates in the following priority: first, to
the Super Senior Certificates, on a pro rata basis in
accordance with their respective amounts of Accrued
Certificate Interest, up to an amount equal to the
Accrued Certificate Interest thereon; second, to the
Super Senior Certificates, on a pro rata basis in
proportion to the respective Certificate Principal
Balances thereof, the Super Senior Optimal Principal
Distribution Amount thereof, in reduction of the
Certificate Principal Balances thereof until such
Certificate Principal Balances have been reduced to
zero; third, to the Class A-5 Certificates, up to an
amount equal to the Accrued Certificate Interest
thereon; and fourth, to the Class A-5 Certificates, the
remainder of the amount so distributable among the
Super Senior Certificates and Class A-5 Certificates,
until the Certificate Principal Balance thereof is
reduced to zero.
(d) On or after the occurrence of the Credit
Support Depletion Date and upon reduction of the
Certificate Principal Balance of the Class A-5
Certificates to zero, all priorities relating to
distributions as described above in respect of
principal among the various classes of Senior
Certificates (other than the Class A-11 Certificates)
will be disregarded and an amount equal to the Discount
Fraction of the principal portion of scheduled or
unscheduled payments received or advanced in respect of
Discount Mortgage Loans will be distributed to the
Class A-11 Certificates and the Senior Principal
Distribution Amount will be distributed among all
classes of Senior Certificates (other than the Class A-
11 Certificates) pro rata in accordance with their
respective outstanding Certificate Principal Balances.
(e) In addition to the foregoing distributions,
with respect to any Mortgage Loan that was previously
the subject of a Cash Liquidation or an REO Disposition
that resulted in a Realized Loss, in the event that
within two years of the date on which such Realized
Loss was determined to have occurred the Master
Servicer receives amounts, which the Master Servicer
reasonably believes to represent subsequent recoveries
(net of any related liquidation expenses), or
determines that it holds surplus amounts previously
reserved to cover estimated expenses, specifically
related to such Mortgage Loan (including, but not
limited to, recoveries in respect of the
representations and warranties made by Norwest pursuant
to the Designated Seller's Agreement), the Master
Servicer shall distribute such amounts to the
applicable Certificateholders of the Class or Classes
to which such Realized Loss was allocated (with the
amounts to be distributed allocated among such Classes
and the Excess Spread in the same proportions as such
Realized Loss was allocated), subject to the following:
No such distribution shall be in an amount that would
result in total distributions in respect of the
Certificates of any such Class in excess of the total
amounts of principal and interest that would have been
distributable thereon if such Cash Liquidation or REO
Disposition had occurred but had resulted in a Realized
Loss equal to zero. Notwithstanding the foregoing, no
such distribution shall be made with respect to the
Certificates of any Class to the extent that either (i)
such Class was protected against the related Realized
Loss pursuant to any instrument or fund established
under Section 11.01(e) or (ii) such Class of
Certificates has been deposited into a separate trust
fund or other structuring vehicle and separate
certificates or other instruments representing
interests therein have been issued in one or more
classes, and any of such separate certificates or other
instruments was protected against the related Realized
Loss pursuant to any limited guaranty, payment
obligation, irrevocable letter of credit, surety bond,
insurance policy or similar instrument or a reserve
fund, or a combination thereof. Any amount to be so
distributed with respect to the Certificates of any
Class shall be distributed by the Master Servicer to
the Certificateholders of record as of the Record Date
immediately preceding the date of such distribution, on
a pro rata basis based on the Percentage Interest
represented by each Certificate of such Class as of
such Record Date. Any amounts to be so distributed
shall not be remitted to or distributed from the Trust
Fund, and shall constitute subsequent recoveries with
respect to Mortgage Loans that are no longer assets of
the Trust Fund.
(f) Each distribution with respect to a Book-
Entry Certificate shall be paid to the Depository, as
Holder thereof, and the Depository shall be responsible
for crediting the amount of such distribution to the
accounts of its Depository Participants in accordance
with its normal procedures. Each Depository
participant shall be responsible for disbursing such
distribution to the Certificate Owners that it
represents and to each indirect participating brokerage
firm (a "brokerage firm" or "indirect participating
firm") for which it acts as agent. Each brokerage firm
shall be responsible for disbursing funds to the
Certificate Owners that it represents. None of the
Trustee, the Certificate Registrar, the Company or the
Master Servicer shall have any responsibility therefor
except as otherwise provided by this Agreement or
applicable law.
(g) Except as otherwise provided in Section 9.01,
if the Master Servicer anticipates that a final
distribution with respect to any Class of Certificates
will be made on the next Distribution Date, the Master
Servicer shall, no later than the Determination Date in
the month of such final distribution, notify the
Trustee and the Trustee shall, no later than two
(2) Business Days after such Determination Date, mail
on such date to each Holder of such Class of
Certificates a notice to the effect that: (i) the
Trustee anticipates that the final distribution with
respect to such Class of Certificates will be made on
such Distribution Date but only upon presentation and
surrender of such Certificates at the office of the
Trustee or as otherwise specified therein, and (ii) no
interest shall accrue on such Certificates from and
after the end of the prior calendar month. In the
event that Certificateholders required to surrender
their Certificates pursuant to Section 9.01(c) do not
surrender their Certificates for final cancellation,
the Trustee shall cause funds distributable with
respect to such Certificates to be withdrawn from the
Certificate Account and credited to a separate escrow
account for the benefit of such Certificateholders as
provided in Section 9.01(d).
Section 4.03. Statements to Certificateholders.
(a) Concurrently with each distribution charged
to the Certificate Account and with respect to each
Distribution Date and on the basis of information
provided by the Master Servicer, the Administrator
shall forward to the Trustee and the Trustee shall
forward by mail to each Holder, and the Company a
statement setting forth the following information as to
each Class of Certificates to the extent applicable:
(i) (a) the amount of such distribution to
the Certificateholders of such Class applied to
reduce the Certificate Principal Balance thereof,
and (b) the aggregate amount included therein
representing Principal Prepayments;
(ii) the amount of such distribution to
Holders of such Class of Certificates allocable to
interest and to the owner of the Spread;
(iii) if the distribution to the Holders
of such Class of Certificates is less than the
full amount that would be distributable to such
Holders if there were sufficient funds available
therefor, the amount of the shortfall;
(iv) the amount of any Advance by the Master
Servicer pursuant to Section 4.04;
(v) the number and Pool Stated Principal
Balance of the Mortgage Loans after giving effect
to the distribution of principal on such
Distribution Date;
(vi) the aggregate Certificate Principal
Balance of each Class of Certificates, and each of
the Senior, Class M and Class B Percentages, after
giving effect to the amounts distributed on such
Distribution Date, separately identifying any
reduction thereof due to Realized Losses other
than pursuant to an actual distribution of
principal;
(vii) the related Subordinate Principal
Distribution Amount and Prepayment Distribution
Percentage, if applicable;
(viii) on the basis of the most recent
reports furnished to the Master Servicer by
Subservicers, the number and aggregate principal
balances of Mortgage Loans that are delinquent (A)
one month, (B) two months and (C) three months and
the number and aggregate principal balance of
Mortgage Loans that are in foreclosure;
(ix) the number, aggregate principal balance
and book value of any REO Properties;
(x) the aggregate Accrued Certificate
Interest remaining unpaid, if any, for each Class
of Certificates, after giving effect to the
distribution made on such Distribution Date;
(xi) the Special Hazard Amount, Fraud Loss
Amount and Bankruptcy Amount as of the close of
business on such Distribution Date and a
description of any change in the calculation of
such amounts;
(xii) the occurrence of the Credit
Support Depletion Date;
(xiii) the Adjusted Senior Accelerated
Distribution Percentage applicable to such
distribution;
(xiv) the Senior Percentage for such
Distribution Date;
(xv) the aggregate amount of Realized Losses
for such Distribution Date;
(xvi) the aggregate amount of any
recoveries on previously foreclosed loans from
Sellers due to a breach of representation or
warranty;
(xvii) the weighted average remaining term
to maturity of the Mortgage Loans after giving
effect to the amounts distributed on such
Distribution Date; and
(xviii) the weighted average Mortgage Rates
of the Mortgage Loans after giving effect to the
amounts distributed on such Distribution Date.
In the case of information furnished pursuant to
clauses (i) and (ii) above, the amounts shall be
expressed as a dollar amount per Certificate with a
$1,000 denomination. In addition to the statement
provided to the Trustee as set forth in this Section
4.03(a), the Administrator shall provide to any manager
of a trust fund consisting of some or all of the
Certificates, upon reasonable request, such additional
information as is reasonably obtainable by the
Administrator at no additional expense to the
Administrator.
(b) Within a reasonable period of time after the
end of each calendar year, the Administrator shall
prepare, or cause to be prepared, and shall forward, or
cause to be forwarded, to each Person who at any time
during the calendar year was the Holder of a
Certificate, other than a Class R Certificate, a
statement containing the information set forth in
clauses (i) and (ii) of subsection (a) above aggregated
for such calendar year or applicable portion thereof
during which such Person was a Certificateholder. Such
obligation of the Administrator shall be deemed to have
been satisfied to the extent that substantially
comparable information shall be provided by the
Administrator pursuant to any requirements of the Code.
(c) Within a reasonable period of time after the
end of each calendar year, the Administrator shall
prepare, or cause to be prepared, and shall forward, or
cause to be forwarded, to each Person who at any time
during the calendar year was the Holder of a Class R
Certificate, a statement containing the applicable
distribution information provided pursuant to this
Section 4.03 aggregated for such calendar year or
applicable portion thereof during which such Person was
the Holder of a Class R Certificate. Such obligation
of the Administrator shall be deemed to have been
satisfied to the extent that substantially comparable
information shall be provided by the Administrator
pursuant to any requirements of the Code.
(d) Upon the written request of any
Certificateholder, the Administrator, as soon as
reasonably practicable, shall provide the requesting
Certificateholder with such information as is necessary
and appropriate, in the Administrator's sole
discretion, for purposes of satisfying applicable
reporting requirements under Rule 144A.
Section 4.04. Distribution of Reports to the
Trustee and the Company;
Advances by the Master
Servicer.
(a) Prior to the close of business on the
Business Day next succeeding each Determination Date,
the Administrator shall furnish a written statement to
the Trustee, the Master Servicer, any Paying Agent and
the Company (the information in such statement to be
made available to Certificateholders by the
Administrator on request) setting forth (i) the
Available Distribution Amount and (ii) the amounts
required to be withdrawn from the Custodial Account and
deposited into the Certificate Account on the
immediately succeeding Certificate Account Deposit Date
pursuant to clause (iii) of Section 4.01(a) and (iii)
the Administration Fee. The determination by the
Administrator of such amounts shall, in the absence of
obvious error, be presumptively deemed to be correct
for all purposes hereunder and the Trustee shall be
protected in relying upon the same without any
independent check or verification.
(b) On or before 2:00 P.M. New York time on each
Certificate Account Deposit Date, the Master Servicer
shall either (i) deposit in the Certificate Account
from its own funds, or funds received therefor from the
Subservicers, an amount equal to the Advances to be
made by the Master Servicer in respect of the related
Distribution Date, which shall be in an aggregate
amount equal to the aggregate amount of Monthly
Payments (with each interest portion thereof adjusted
to the Net Mortgage Rate plus the Administration Fee
Rate), less the amount of any related Debt Service
Reductions or reductions in the amount of interest
collectable from the Mortgagor pursuant to the
Soldiers' and Sailors' Civil Relief Act of 1940, as
amended, or similar legislation or regulations then in
effect, on the Outstanding Mortgage Loans as of the
related Due Date, which Monthly Payments were
delinquent as of the close of business as of the
related Determination Date; provided that no Advance
shall be made if it would be a Nonrecoverable Advance,
(ii) withdraw from amounts on deposit in the Custodial
Account and deposit in the Certificate Account all or a
portion of the Amount Held for Future Distribution in
discharge of any such Advance, or (iii) make advances
in the form of any combination of (i) and (ii)
aggregating the amount of such Advance. Any portion of
the Amount Held for Future Distribution so used shall
be replaced by the Master Servicer by deposit in the
Certificate Account on or before 11:00 A.M. New York
time on any future Certificate Account Deposit Date to
the extent that funds attributable to the Mortgage
Loans that are available in the Custodial Account for
deposit in the Certificate Account on such Certificate
Account Deposit Date shall be less than payments to
Certificateholders and Excess Spread required to be
made on the following Distribution Date. The Master
Servicer shall be entitled to use any Advance made by a
Subservicer as described in Section 3.07(b) that has
been deposited in the Custodial Account on or before
such Distribution Date as part of the Advance made by
the Master Servicer pursuant to this Section 4.04. The
amount of any reimbursement pursuant to Section
4.02(a)(iii) in respect of outstanding Advances on any
Distribution Date shall be allocated to specific
Monthly Payments due but delinquent for previous Due
Periods, which allocation shall be made, to the extent
practicable, to Monthly Payments which have been
delinquent for the longest period of time. Such
allocations shall be conclusive for purposes of
reimbursement to the Master Servicer from recoveries on
related Mortgage Loans pursuant to Section 3.10.
The determination by the Master Servicer that it
has made a Nonrecoverable Advance or that any proposed
Advance, if made, would constitute a Nonrecoverable
Advance, shall be evidenced by a certificate of a
Servicing Officer delivered to the Seller and the
Trustee.
In the event that the Master Servicer determines
as of the Business Day preceding any Certificate
Account Deposit Date that it will be unable to deposit
in the Certificate Account an amount equal to the
Advance required to be made for the immediately
succeeding Distribution Date, it shall give notice to
the Trustee of its inability to advance (such notice
may be given by telecopy), not later than 3:00 P.M.,
New York time, on such Business Day, specifying the
portion of such amount that it will be unable to
deposit. Not later than 3:00 P.M., New York time, on
the Certificate Account Deposit Date the Trustee shall,
unless by 12:00 Noon, New York time, on such day the
Trustee shall have been notified in writing (by
telecopy) that the Master Servicer shall have directly
or indirectly deposited in the Certificate Account such
portion of the amount of the Advance as to which the
Master Servicer shall have given notice pursuant to the
preceding sentence, pursuant to Section 7.01, (a)
terminate all of the rights and obligations of the
Master Servicer under this Agreement in accordance with
Section 7.01 and (b) assume the rights and obligations
of the Master Servicer hereunder, including the
obligation to deposit in the Certificate Account an
amount equal to the Advance for the immediately
succeeding Distribution Date.
The Trustee shall deposit all funds it receives
pursuant to this Section 4.04 into the Certificate
Account.
Section 4.05. Allocation of Realized Losses.
Prior to each Distribution Date, the Master
Servicer shall determine the total amount of Realized
Losses, if any, that resulted from any Cash
Liquidation, Debt Service Reduction, Deficient
Valuation or REO Disposition that occurred during the
related Prepayment Period. The amount of each Realized
Loss shall be evidenced by an Officers' Certificate.
All Realized Losses, other than Excess Special Hazard
Losses, Extraordinary Losses, Excess Bankruptcy Losses
or Excess Fraud Losses, shall be allocated as follows:
first, to the Class B-3 Certificates until the
Certificate Principal Balance thereof has been reduced
to zero; second, to the Class B-2 Certificates until
the Certificate Principal Balance thereof has been
reduced to zero; third, to the Class B-1 Certificates
until the Certificate Principal Balance thereof has
been reduced to zero; fourth, to the Class M-3
Certificates until the Certificate Principal Balance
thereof has been reduced to zero; fifth, to the Class
M-2 Certificates until the Certificate Principal
Balance thereof has been reduced to zero; sixth, to the
Class M-1 Certificates until the Certificate Principal
Balance thereof has been reduced to zero; and,
thereafter, if such Realized Losses are on a Discount
Mortgage Loan, to the Class A-11 Certificates in an
amount equal to the Discount Fraction of the principal
portion thereof, and the remainder of such Realized
Losses and the entire amount of such Realized Losses on
Non-Discount Mortgage Loans among all the Class A
Certificates (other than the Class A-11 Certificates),
Class R Certificates and in respect of the interest
portion of such Realized Losses, on a pro rata basis,
as described below. Any Excess Special Hazard Losses,
Excess Bankruptcy Losses, Excess Fraud Losses and
Extraordinary Losses on Non-Discount Mortgage Loans
will be allocated among the Class A (other than the
Class A-11 Certificates) and Class M, Class B and Class
R Certificates on a pro rata basis, as described below;
except that the principal portion of Defaulted Mortgage
Losses otherwise allocable to the Super Senior
Certificates will be allocated to the Class A-5
Certificates until the Certificate Principal Balance
thereof is reduced to zero.
As used herein, an allocation of a Realized Loss
on a "pro rata basis" among two or more specified
Classes of Certificates and the Spread means an
allocation on a pro rata basis, among the various
Classes so specified, to each such Class of
Certificates on the basis of their then outstanding
Certificate Principal Balances prior to giving effect
to distributions to be made on such Distribution Date
in the case of the principal portion of a Realized Loss
or to each such Class of Certificates based on the
Accrued Certificate Interest thereon or amount of
Spread payable on such Distribution Date (without
regard to any Compensating Interest for such
Distribution Date) in the case of an interest portion
of a Realized Loss. Except as provided in the following
sentence, any allocation of the principal portion of
Realized Losses (other than Debt Service Reductions) to
a Class of Certificates shall be made by reducing the
Certificate Principal Balance thereof by the amount so
allocated, which allocation shall be deemed to have
occurred on such Distribution Date. Any allocation of
the principal portion of Realized Losses (other than
Debt Service Reductions) to the Class B Certificates
or, after the Certificate Principal Balances of the
Class B Certificates have been reduced to zero, to the
Class of Class M Certificates then outstanding with the
highest numerical designation shall be made by
operation of the definition of "Certificate Principal
Balance" and by operation of the provisions of Section
4.02(a). Allocations of the interest portions of
Realized Losses shall be made by operation of the
definition of "Accrued Certificate Interest" and by
operation of the provisions of Section 4.02(a).
Allocations of the principal portion of Debt Service
Reductions shall be made by operation of the provisions
of Section 4.02(a). All Realized Losses and all other
losses allocated to a Class of Certificates hereunder
will be allocated among the Certificates of such Class
in proportion to the Percentage Interests evidenced
thereby.
Section 4.06. Reports of Foreclosures and
Abandonment
of Mortgaged Property.
The Master Servicer or the Subservicers shall
file information returns with respect to the receipt of
mortgage interests received in a trade or business, the
reports of foreclosures and abandonments of any
Mortgaged Property and the information returns relating
to cancellation of indebtedness income with respect to
any Mortgaged Property required by Sections 6050H,
6050J and 6050P, respectively, of the Code, and deliver
to the Trustee an Officers' Certificate on or before
March 31 of each year stating that such reports have
been filed. Such reports shall be in form and
substance sufficient to meet the reporting requirements
imposed by Sections 6050H, 6050J and 6050P of the Code.
Section 4.07. Optional Purchase of
Defaulted Mortgage Loans.
As to any Mortgage Loan which is delinquent
in payment by 90 days or more, the Master Servicer may,
at its option, purchase such Mortgage Loan from the
Trustee at the Purchase Price therefor. If at any time
the Master Servicer makes a payment to the Certificate
Account covering the amount of the Purchase Price for
such a Mortgage Loan, and the Master Servicer provides
to the Trustee a certification signed by a Servicing
Officer stating that the amount of such payment has
been deposited in the Certificate Account, then the
Trustee shall execute the assignment of such Mortgage
Loan at the request of the Master Servicer without
recourse to the Master Servicer which shall succeed to
all the Trustee's right, title and interest in and to
such Mortgage Loan, and all security and documents
relative thereto. Such assignment shall be an
assignment outright and not for security. The Master
Servicer will thereupon own such Mortgage, and all such
security and documents, free of any further obligation
to the Trustee or the Certificateholders with respect
thereto. Notwithstanding anything to the contrary in
this Section 4.07, the Master Servicer shall continue
to service any such Mortgage Loan after the date of
such purchase in accordance with the terms of this
Agreement and, if any Realized Loss with respect to
such Mortgage Loan occurs, allocate such Realized Loss
in accordance with the terms hereof as if such Mortgage
Loan had not been so purchased. For purposes of this
Agreement, a payment of the Purchase Price by the
Master Servicer pursuant to this Section 4.07 will be
viewed as an advance and any Realized Loss shall be
recoverable pursuant to the provisions for the recovery
of advances as set forth herein.
Section 4.08. Master Servicer Reports to the
Administrator
Prior to the close of business on fifteenth
calendar day of each month in which the related
Distribution Date is to occur, the Master Servicer
shall furnish a statement to the Administrator, in
writing and/or in a machine readable format as the
Administrator shall reasonably request setting forth
all information reasonably necessary to allow the
Administrator to perform the calculations for the
distributions contemplated by Section 4.02 and prepare
reports pursuant to Sections 4.03, 4.04 and 10.01.
ARTICLE V
THE CERTIFICATES
Section 5.01. The Certificates.
(a) The Class A, Class M, Class B and Class R
Certificates, respectively, shall be substantially in
the forms set forth in Exhibits A, B, C and D and
shall, on original issue, be executed and delivered by
the Trustee to the Certificate Registrar for
authentication and delivery to or upon the order of the
Company upon receipt by the Trustee or one or more
Custodians of the documents specified in Section 2.01.
The Certificates, other than the Class R Certificates,
shall be issuable in minimum dollar denominations of
$25,000 (or $250,000 in the case of the Class M-2,
Class M-3, Class B-1, Class B-2 and Class B-3
Certificates) and integral multiples of $1 (or $1,000
in the case of Class A-11, Class M-1, Class M-2, Class
M-3, Class B-1, Class B-2 and Class B-3 Certificates)
in excess thereof, except that one Certificate of each
of the Class A-11, Class M-1, Class M-2, Class M-3,
Class B-1 and Class B-3 Certificates may be issued in a
denomination equal to the denomination set forth as
follows for such Class or the sum of such denomination
and an integral multiple of $1,000:
Class A-11 $25,319.71
Class M-1 $25,463.00
Class M-2 $250,804.00
Class M-3 $250,317.00
Class B-1 $250,824.00
Class B-2 $250,160.00
Class B-3 $250,990.76
The Class R Certificates shall be issuable in
minimum denominations of not less than a 20% Percentage
Interest; provided, however, that one Class R
Certificate will be issuable to Residential Funding as
"tax matters person" pursuant to Section 10.01(c) and
(e) in a minimum denomination representing a Percentage
Interest of not less than 0.01%.
The Certificates shall be executed by manual or
facsimile signature on behalf of an authorized officer
of the Trustee. Certificates bearing the manual or
facsimile signatures of individuals who were at any
time the proper officers of the Trustee shall bind the
Trustee, notwithstanding that such individuals or any
of them have ceased to hold such offices prior to the
authentication and delivery of such Certificate or did
not hold such offices at the date of such Certificates.
No Certificate shall be entitled to any benefit under
this Agreement, or be valid for any purpose, unless
there appears on such Certificate a certificate of
authentication substantially in the form provided for
herein executed by the Certificate Registrar by manual
signature, and such certificate upon any Certificate
shall be conclusive evidence, and the only evidence,
that such Certificate has been duly authenticated and
delivered hereunder. All Certificates shall be dated
the date of their authentication.
(b) The Class A Certificates, other than the
Class A-11 Certificates, shall initially be issued as
one or more Certificates registered in the name of the
Depository or its nominee and, except as provided
below, registration of such Certificates may not be
transferred by the Trustee except to another Depository
that agrees to hold such Certificates for the
respective Certificate Owners with Ownership Interests
therein. The Certificate Owners shall hold their
respective Ownership Interests in and to each of the
Class A Certificates, other than the Class A-11
Certificates, through the book-entry facilities of the
Depository and, except as provided below, shall not be
entitled to Definitive Certificates in respect of such
Ownership Interests. All transfers by Certificate
Owners of their respective Ownership Interests in the
Book-Entry Certificates shall be made in accordance
with the procedures established by the Depository
Participant or brokerage firm representing such
Certificate Owner. Each Depository Participant shall
transfer the Ownership Interests only in the Book-Entry
Certificates of Certificate Owners it represents or of
brokerage firms for which it acts as agent in
accordance with the Depository's normal procedures.
The Trustee, the Master Servicer and the Company
may for all purposes (including the making of payments
due on the respective Classes of Book-Entry
Certificates) deal with the Depository as the
authorized representative of the Certificate Owners
with respect to the respective Classes of Book-Entry
Certificates for the purposes of exercising the rights
of Certificateholders hereunder. The rights of
Certificate Owners with respect to the respective
Classes of Book-Entry Certificates shall be limited to
those established by law and agreements between such
Certificate Owners and the Depository Participants and
brokerage firms representing such Certificate Owners.
Multiple requests and directions from, and votes of,
the Depository as Holder of any Class of Book-Entry
Certificates with respect to any particular matter
shall not be deemed inconsistent if they are made with
respect to different Certificate Owners. The Trustee
may establish a reasonable record date in connection
with solicitations of consents from or voting by
Certificateholders and shall give notice to the
Depository of such record date.
If (i)(A) the Company advises the Trustee in
writing that the Depository is no longer willing or
able to properly discharge its responsibilities as
Depository and (B) the Company is unable to locate a
qualified successor or (ii) the Company at its option
advises the Trustee in writing that it elects to
terminate the book-entry system through the Depository,
the Trustee shall notify all Certificate Owners,
through the Depository, of the occurrence of any such
event and of the availability of Definitive
Certificates to Certificate Owners requesting the same.
Upon surrender to the Trustee of the Book-Entry
Certificates by the Depository, accompanied by
registration instructions from the Depository for
registration of transfer, the Trustee shall issue the
Definitive Certificates. Neither the Company, the
Master Servicer nor the Trustee shall be liable for any
actions taken by the Depository or its nominee,
including, without limitation, any delay in delivery of
such instructions and may conclusively rely on, and
shall be protected in relying on, such instructions.
Upon the issuance of Definitive Certificates all
references herein to obligations imposed upon or to be
performed by the Company in connection with the
issuance of the Definitive Certificates pursuant to
this Section 5.01 shall be deemed to be imposed upon
and performed by the Trustee, and the Trustee and the
Master Servicer shall recognize the Holders of the
Definitive Certificates as Certificateholders
hereunder.
Section 5.02. Registration of Transfer
and Exchange of Certificates.
(a) The Trustee shall cause to be kept at one of
the offices or agencies to be appointed by the Trustee
in accordance with the provisions of Section 8.12 a
Certificate Register in which, subject to such
reasonable regulations as it may prescribe, the Trustee
shall provide for the registration of Certificates and
of transfers and exchanges of Certificates as herein
provided. The Trustee is initially appointed
Certificate Registrar for the purpose of registering
Certificates and transfers and exchanges of
Certificates as herein provided. The Certificate
Registrar, or the Trustee, shall provide the Master
Servicer with a certified list of Certificateholders as
of each Record Date prior to the related Determination
Date.
(b) Upon surrender for registration of transfer
of any Certificate at any office or agency of the
Trustee maintained for such purpose pursuant to Section
8.12 and, in the case of any Class M, Class B or Class
R Certificate, upon satisfaction of the conditions set
forth below, the Trustee shall execute and the
Certificate Registrar shall authenticate and deliver,
in the name of the designated transferee or
transferees, one or more new Certificates of a like
Class and aggregate Percentage Interest.
(c) At the option of the Certificateholders,
Certificates may be exchanged for other Certificates of
authorized denominations of a like Class and aggregate
Percentage Interest, upon surrender of the Certificates
to be exchanged at any such office or agency. Whenever
any Certificates are so surrendered for exchange the
Trustee shall execute and the Certificate Registrar
shall authenticate and deliver the Certificates of such
Class which the Certificateholder making the exchange
is entitled to receive. Every Certificate presented or
surrendered for transfer or exchange shall (if so
required by the Trustee or the Certificate Registrar)
be duly endorsed by, or be accompanied by a written
instrument of transfer in form satisfactory to the
Trustee and the Certificate Registrar duly executed by,
the Holder thereof or his attorney duly authorized in
writing.
(d) No transfer, sale, pledge or other
disposition of a Class B Certificate shall be made
unless such transfer, sale, pledge or other disposition
is exempt from the registration requirements of the
Securities Act of 1933, as amended, and any applicable
state securities laws or is made in accordance with
said Act and laws. In the event that a transfer of a
Class B Certificate is to be made either (i)(A) the
Trustee shall require a written Opinion of Counsel
acceptable to and in form and substance satisfactory to
the Trustee and the Company that such transfer may be
made pursuant to an exemption, describing the
applicable exemption and the basis therefor, from said
Act and laws or is being made pursuant to said Act and
laws, which Opinion of Counsel shall not be an expense
of the Trustee, the Company or the Master Servicer and
(B) the Trustee shall require the transferee to execute
a representation letter, substantially in the form of
Exhibit J hereto, and the Trustee shall require the
transferor to execute a representation letter,
substantially in the form of Exhibit K hereto, each
acceptable to and in form and substance satisfactory to
the Company and the Trustee certifying to the Company
and the Trustee the facts surrounding such transfer,
which representation letters shall not be an expense of
the Trustee, the Company or the Master Servicer or (ii)
the prospective transferee of such a Certificate shall
be required to provide the Trustee, the Company and the
Master Servicer with an investment letter substantially
in the form of Exhibit L attached hereto (or such other
form as the Company in its sole discretion deems
acceptable), which investment letter shall not be an
expense of the Trustee, the Company or the Master
Servicer, and which investment letter states that,
among other things, such transferee (A) is a "qualified
institutional buyer" as defined under Rule 144A, acting
for its own account or the accounts of other "qualified
institutional buyers" as defined under Rule 144A, and
(B) is aware that the proposed transferor intends to
rely on the exemption from registration requirements
under the Securities Act of 1933, as amended, provided
by Rule 144A. The Holder of any such Certificate
desiring to effect any such transfer, sale, pledge or
other disposition shall, and does hereby agree to,
indemnify the Trustee, the Company, the Master Servicer
and the Certificate Registrar against any liability
that may result if the transfer, sale, pledge or other
disposition is not so exempt or is not made in
accordance with such federal and state laws.
(e) In the case of any Senior Support, Class M,
Class B or Class R Certificate presented for
registration in the name of an employee benefit plan or
other plan subject to the prohibited transaction
provisions of the Employee Retirement Income Security
Act of 1974, as amended ("ERISA"), or Section 4975 of
the Code (or comparable provisions of any subsequent
enactments), an investment manager, a named fiduciary
or a trustee of any such plan or any other Person who
is using "plan assets" of any such plan to effect such
acquisition, unless otherwise directed by the Company,
the Trustee shall require an Opinion of Counsel
acceptable to and in form and substance satisfactory to
the Trustee, the Company and the Master Servicer to the
effect that the purchase or holding of a Senior
Support, Class M or Class B Certificate is permissible
under applicable law, will not constitute or result in
any non-exempt prohibited transaction under Section 406
of ERISA or Section 4975 of the Code, and will not
subject the Trustee, the Company or the Master Servicer
to any obligation or liability (including obligations
or liabilities under ERISA or Section 4975 of the Code)
in addition to those undertaken in this Agreement,
which Opinion of Counsel shall not be an expense of the
Trustee, the Company or the Master Servicer. The
Trustee may (unless otherwise directed by the Company)
require that any prospective transferee of a Senior
Support, Class M or Class B Certificate provide either
a certification to the effect set forth in paragraph
six of Exhibit J, which the Trustee may rely upon
without further inquiry or investigation, or such other
certifications as the Trustee may deem desirable or
necessary in order to establish that such transferee or
the Person in whose name such registration is requested
is not an employee benefit plan or other plan subject
to the prohibited transaction provisions of ERISA or
Section 4975 of the Code, an investment manager, a
named fiduciary or a trustee of any such plan, or any
other Person who is using "plan assets" of any such
plan to effect such acquisition.
(f) (i) Each Person who has or who acquires any
Ownership Interest in a Class R Certificate shall be
deemed by the acceptance or acquisition of such
Ownership Interest to have agreed to be bound by the
following provisions and to have irrevocably authorized
the Trustee or its designee under clause (iii)(A) below
to deliver payments to a Person other than such Person
and to negotiate the terms of any mandatory sale under
clause (iii)(B) below and to execute all instruments of
transfer and to do all other things necessary in
connection with any such sale. The rights of each
Person acquiring any Ownership Interest in a Class R
Certificate are expressly subject to the following
provisions:
(A) Each Person holding or acquiring any
Ownership Interest in a Class R Certificate shall
be a Permitted Transferee and shall promptly
notify the Trustee of any change or impending
change in its status as a Permitted Transferee.
(B) In connection with any proposed Transfer
of any Ownership Interest in a Class R
Certificate, the Trustee shall require delivery to
it, and shall not register the Transfer of any
Class R Certificate until its receipt of, (I) an
affidavit and agreement (a "Transfer Affidavit and
Agreement," in the form attached hereto as Exhibit
I-1) from the proposed Transferee, in form and
substance satisfactory to the Master Servicer,
representing and warranting, among other things,
that it is a Permitted Transferee, that it is not
acquiring its Ownership Interest in the Class R
Certificate that is the subject of the proposed
Transfer as a nominee, trustee or agent for any
Person who is not a Permitted Transferee, that for
so long as it retains its Ownership Interest in a
Class R Certificate, it will endeavor to remain a
Permitted Transferee, and that it has reviewed the
provisions of this Section 5.02(g) and agrees to
be bound by them, and (II) a certificate, in the
form attached hereto as Exhibit I-2, from the
Holder wishing to transfer the Class R
Certificate, in form and substance satisfactory to
the Master Servicer, representing and warranting,
among other things, that no purpose of the
proposed Transfer is to impede the assessment or
collection of tax.
(C) Notwithstanding the delivery of a
Transfer Affidavit and Agreement by a proposed
Transferee under clause (B) above, if a
Responsible Officer of the Trustee who is assigned
to this Agreement has actual knowledge that the
proposed Transferee is not a Permitted Transferee,
no Transfer of an Ownership Interest in a Class R
Certificate to such proposed Transferee shall be
effected.
(D) Each Person holding or acquiring any
Ownership Interest in a Class R Certificate shall
agree (x) to require a Transfer Affidavit and
Agreement from any other Person to whom such
Person attempts to transfer its Ownership Interest
in a Class R Certificate and (y) not to transfer
its Ownership Interest unless it provides a
certificate to the Trustee in the form attached
hereto as Exhibit I-2.
(E) Each Person holding or acquiring an
Ownership Interest in a Class R Certificate, by
purchasing an Ownership Interest in such
Certificate, agrees to give the Trustee written
notice that it is a "pass-through interest holder"
within the meaning of Temporary Treasury
Regulations Section 1.67-3T(a)(2)(i)(A)
immediately upon acquiring an Ownership Interest
in a Class R Certificate, if it is, or is holding
an Ownership Interest in a Class R Certificate on
behalf of, a "pass-through interest holder."
(ii) The Trustee will register the Transfer of any
Class R Certificate only if it shall have received the
Transfer Affidavit and Agreement, a certificate of the
Holder requesting such transfer in the form attached
hereto as Exhibit I-2 and all of such other documents
as shall have been reasonably required by the Trustee
as a condition to such registration. Transfers of the
Class R Certificates to Non-United States Persons and
Disqualified Organizations (as defined in Section
860E(e)(5) of the Code) are prohibited.
(iii) (A) If any Disqualified Organization
shall become a holder of a Class R Certificate, then
the last preceding Permitted Transferee shall be
restored, to the extent permitted by law, to all rights
and obligations as Holder thereof retroactive to the
date of registration of such Transfer of such Class R
Certificate. If a Non-United States Person shall
become a holder of a Class R Certificate, then the last
preceding United States Person shall be restored, to
the extent permitted by law, to all rights and
obligations as Holder thereof retroactive to the date
of registration of such Transfer of such Class R
Certificate. If a transfer of a Class R Certificate is
disregarded pursuant to the provisions of Treasury
Regulations Section 1.860E-1 or Section 1.860G-3, then
the last preceding Permitted Transferee shall be
restored, to the extent permitted by law, to all rights
and obligations as Holder thereof retroactive to the
date of registration of such Transfer of such Class R
Certificate. The Trustee shall be under no liability to
any Person for any registration of Transfer of a Class
R Certificate that is in fact not permitted by this
Section 5.02(g) or for making any payments due on such
Certificate to the holder thereof or for taking any
other action with respect to such holder under the
provisions of this Agreement.
(B) If any purported Transferee shall become
a Holder of a Class R Certificate in violation of the
restrictions in this Section 5.02(g) and to the extent
that the retroactive restoration of the rights of the
Holder of such Class R Certificate as described in
clause (iii)(A) above shall be invalid, illegal or
unenforceable, then the Master Servicer shall have the
right, without notice to the holder or any prior holder
of such Class R Certificate, to sell such Class R
Certificate to a purchaser selected by the Master
Servicer on such terms as the Master Servicer may
choose. Such purported Transferee shall promptly
endorse and deliver each Class R Certificate in
accordance with the instructions of the Master
Servicer. Such purchaser may be the Master Servicer
itself or any Affiliate of the Master Servicer. The
proceeds of such sale, net of the commissions (which
may include commissions payable to the Master Servicer
or its Affiliates), expenses and taxes due, if any,
will be remitted by the Master Servicer to such
purported Transferee. The terms and conditions of any
sale under this clause (iii)(B) shall be determined in
the sole discretion of the Master Servicer, and the
Master Servicer shall not be liable to any Person
having an Ownership Interest in a Class R Certificate
as a result of its exercise of such discretion.
(iv) The Administrator, on behalf of the Trustee,
shall make available, upon written request from the
Trustee, all information necessary to compute any tax
imposed (A) as a result of the Transfer of an Ownership
Interest in a Class R Certificate to any Person who is
a Disqualified Organization, including the information
regarding "excess inclusions" of such Class R
Certificates required to be provided to the Internal
Revenue Service and certain Persons as described in
Treasury Regulations Sections 1.860D-1(b)(5) and
1.860E-2(a)(5), and (B) as a result of any regulated
investment company, real estate investment trust,
common trust fund, partnership, trust, estate or
organization described in Section 1381 of the Code that
holds an Ownership Interest in a Class R Certificate
having as among its record holders at any time any
Person who is a Disqualified Organization. Reasonable
compensation for providing such information may be
required by the Administrator from such Person.
(v) The provisions of this Section 5.02(g) set
forth prior to this clause (v) may be modified, added
to or eliminated, provided that there shall have been
delivered to the Trustee the following:
(A) written notification from each Rating
Agency to the effect that the modification,
addition to or elimination of such provisions will
not cause such Rating Agency to downgrade its
then-current ratings, if any, of any Class of the
Class A, Class M, Class B or Class R Certificates
below the lower of the then-current rating or the
rating assigned to such Certificates as of the
Closing Date by such Rating Agency; and
(B) a certificate of the Master Servicer
stating that the Master Servicer has received an
Opinion of Counsel, in form and substance
satisfactory to the Master Servicer, to the effect
that such modification, addition to or absence of
such provisions will not cause the Trust Fund to
cease to qualify as a REMIC and will not cause (x)
the Trust Fund to be subject to an entity-level
tax caused by the Transfer of any Class R
Certificate to a Person that is a Disqualified
Organization or (y) a Certificateholder or another
Person to be subject to a REMIC-related tax caused
by the Transfer of a Class R Certificate to a
Person that is not a Permitted Transferee.
(g) No service charge shall be made for any
transfer or exchange of Certificates of any Class, but
the Trustee may require payment of a sum sufficient to
cover any tax or governmental charge that may be
imposed in connection with any transfer or exchange of
Certificates.
(h) All Certificates surrendered for transfer and
exchange shall be destroyed by the Certificate
Registrar.
Section 5.03. Mutilated, Destroyed, Lost
or Stolen Certificates.
If (i) any mutilated Certificate is
surrendered to the Certificate Registrar, or the
Trustee and the Certificate Registrar receive evidence
to their satisfaction of the destruction, loss or theft
of any Certificate, and (ii) there is delivered to the
Trustee and the Certificate Registrar such security or
indemnity as may be required by them to save each of
them harmless, then, in the absence of notice to the
Trustee or the Certificate Registrar that such
Certificate has been acquired by a bona fide purchaser,
the Trustee shall execute and the Certificate Registrar
shall authenticate and deliver, in exchange for or in
lieu of any such mutilated, destroyed, lost or stolen
Certificate, a new Certificate of like tenor, Class and
Percentage Interest but bearing a number not
contemporaneously outstanding. Upon the issuance of
any new Certificate under this Section, the Trustee may
require the payment of a sum sufficient to cover any
tax or other governmental charge that may be imposed in
relation thereto and any other expenses (including the
fees and expenses of the Trustee and the Certificate
Registrar) connected therewith. Any duplicate
Certificate issued pursuant to this Section shall
constitute complete and indefeasible evidence of
ownership in the Trust Fund, as if originally issued,
whether or not the lost, stolen or destroyed
Certificate shall be found at any time.
Section 5.04. Persons Deemed Owners.
Prior to due presentation of a Certificate
for registration of transfer, the Company, the Master
Servicer, the Trustee, the Certificate Registrar and
any agent of the Company, the Master Servicer, the
Trustee or the Certificate Registrar may treat the
Person in whose name any Certificate is registered as
the owner of such Certificate for the purpose of
receiving distributions pursuant to Section 4.02 and
for all other purposes whatsoever, and neither the
Company, the Master Servicer, the Trustee, the
Certificate Registrar nor any agent of the Company, the
Master Servicer, the Trustee or the Certificate
Registrar shall be affected by notice to the contrary
except as provided in Section 5.02(g).
Section 5.05. Appointment of Paying Agent.
The Trustee may appoint a Paying Agent for
the purpose of making distributions to
Certificateholders pursuant to Section 4.02. In the
event of any such appointment, on or prior to each
Distribution Date the Master Servicer on behalf of the
Trustee shall deposit or cause to be deposited with the
Paying Agent a sum sufficient to make the payments to
Certificateholders in the amounts and in the manner
provided for in Section 4.02, such sum to be held in
trust for the benefit of Certificateholders.
The Trustee shall cause each Paying Agent to
execute and deliver to the Trustee an instrument in
which such Paying Agent shall agree with the Trustee
that such Paying Agent will hold all sums held by it
for the payment to Certificateholders in trust for the
benefit of the Certificateholders entitled thereto
until such sums shall be paid to such
Certificateholders. Any sums so held by such Paying
Agent shall be held only in Eligible Accounts to the
extent such sums are not distributed to the
Certificateholders on the date of receipt by such
Paying Agent.
Section 5.06. Optional Purchase of
Certificates.
(a) On any Distribution Date on which the Pool
Stated Principal Balance is less than ten percent of
the Cut-off Date Principal Balance of the Mortgage
Loans, either the Master Servicer or the Company shall
have the right, at its option, to purchase the
Certificates in whole, but not in part, at a price
equal to the outstanding Certificate Principal Balance
of such Certificates plus the sum of one month's
Accrued Certificate Interest thereon and any previously
unpaid Accrued Certificate Interest.
(b) The Master Servicer or the Company, as
applicable, shall give the Trustee not less than 60
days' prior notice of the Distribution Date on which
the Master Servicer or the Company, as applicable,
anticipates that it will purchase the Certificates
pursuant to Section 5.06(a). Notice of any such
purchase, specifying the Distribution Date upon which
the Holders may surrender their Certificates to the
Trustee for payment in accordance with this Section
5.06, shall be given promptly by the Master Servicer or
the Company, as applicable, by letter to
Certificateholders (with a copy to the Certificate
Registrar and each Rating Agency) mailed not earlier
than the 15th day and not later than the 25th day of
the month next preceding the month of such final
distribution, specifying:
(i) the Distribution Date upon which
purchase of the Certificates is anticipated to be
made upon presentation and surrender of such
Certificates at the office or agency of the
Trustee therein designated,
(ii) the purchase price therefor, if known,
and
(iii) that the Record Date otherwise
applicable to such Distribution Date is not
applicable, payments being made only upon
presentation and surrender of the Certificates at
the office or agency of the Trustee therein
specified.
If either the Master Servicer or the Company gives the
notice specified above, the Master Servicer or the
Company, as applicable, shall deposit in the
Certificate Account before the Distribution Date on
which the purchase pursuant to Section 5.06(a) is to be
made, in immediately available funds, an amount equal
to the purchase price for the Certificates computed as
provided above.
(c) Upon presentation and surrender of the
Certificates to be purchased pursuant to Section
5.06(a) by the Holders thereof, the Trustee shall
distribute to such Holders an amount equal to the
outstanding Certificate Principal Balance thereof plus
the sum of one month's Accrued Certificate Interest
thereon and any previously unpaid Accrued Certificate
Interest with respect thereto.
(d) In the event that any Certificateholders do
not surrender their Certificates on or before the
Distribution Date on which a purchase pursuant to this
Section 5.06 is to be made, the Trustee shall on such
date cause all funds in the Certificate Account
deposited therein by the Master Servicer or the
Company, as applicable, pursuant to Section 5.06(b) to
be withdrawn therefrom and deposited in a separate
escrow account for the benefit of such
Certificateholders, and the Master Servicer or the
Company, as applicable, shall give a second written
notice to such Certificateholders to surrender their
Certificates for payment of the purchase price
therefor. If within six months after the second notice
any Certificate shall not have been surrendered for
cancellation, the Trustee shall take appropriate steps
as directed by the Master Servicer or the Company, as
applicable, to contact the Holders of such Certificates
concerning surrender of their Certificates. The costs
and expenses of maintaining the escrow account and of
contacting Certificateholders shall be paid out of the
assets which remain in the escrow account. If within
nine months after the second notice any Certificates
shall not have been surrendered for cancellation in
accordance with this Section 5.06, the Trustee shall
pay to the Master Servicer or the Company, as
applicable, all amounts distributable to the Holders
thereof and the Master Servicer or the Company, as
applicable, shall thereafter hold such amounts until
distributed to such Holders. No interest shall accrue
or be payable to any Certificateholder on any amount
held in the escrow account or by the Master Servicer or
the Company, as applicable, as a result of such
Certificateholder's failure to surrender its
Certificate(s) for payment in accordance with this
Section 5.06. Any Certificate that is not surrendered
on the Distribution Date on which a purchase pursuant
to this Section 5.06 occurs as provided above will be
deemed to have been purchased and the Holder as of such
date will have no rights with respect thereto except to
receive the purchase price therefor minus any costs and
expenses associated with such escrow account and
notices allocated thereto. Any Certificates so
purchased or deemed to have been purchased on such
Distribution Date shall remain outstanding hereunder.
The Master Servicer or the Company, as applicable,
shall be for all purposes the Holder thereof as of such
date.
ARTICLE VI
THE COMPANY, THE ADMINISTRATOR AND THE MASTER SERVICER
Section 6.01. Respective Liabilities of the
Company, the Administrator
and the Master Servicer.
The Company, the Administrator and the Master
Servicer shall each be liable in accordance herewith
only to the extent of the obligations specifically and
respectively imposed upon and undertaken by the
Company, the Administrator and the Master Servicer
herein. By way of illustration and not limitation, the
Company and the Administrator are not liable for the
servicing and administration of the Mortgage Loans, nor
are they obligated by Section 7.01 or Section 10.01 to
assume any obligations of the Master Servicer or to
appoint a designee to assume such obligations, nor is
it liable for any other obligation hereunder that it
may, but is not obligated to, assume unless it elects
to assume such obligation in accordance herewith.
Section 6.02. Merger or Consolidation of the
Company, the Administrator or
the Master Servicer;
Assignment of Rights and
Delegation of Duties by Master
Servicer.
(a) The Company, the Administrator and the Master
Servicer will each keep in full effect its existence,
rights and franchises as a corporation under the laws
of the state of its incorporation, and will each obtain
and preserve its qualification to do business as a
foreign corporation in each jurisdiction in which such
qualification is or shall be necessary to protect the
validity and enforceability of this Agreement, the
Certificates or any of the Mortgage Loans and to
perform its respective duties under this Agreement.
(b) Any Person into which the Company, the
Administrator or the Master Servicer may be merged or
consolidated, or any corporation resulting from any
merger or consolidation to which the Company, the
Administrator or the Master Servicer shall be a party,
or any Person succeeding to the business of the
Company, the Administrator or the Master Servicer,
shall be the successor of the Company, the
Administrator or the Master Servicer, as the case may
be, hereunder, without the execution or filing of any
paper or any further act on the part of any of the
parties hereto, anything herein to the contrary
notwithstanding; provided, however, that the successor
or surviving Person to the Master Servicer shall be
qualified to service mortgage loans on behalf of FNMA
or FHLMC; and provided further that each Rating
Agency's ratings, if any, of the Class A, Class M,
Class B or Class R Certificates in effect immediately
prior to such merger or consolidation will not be
qualified, reduced or withdrawn as a result thereof (as
evidenced by a letter to such effect from each Rating
Agency).
(c) Notwithstanding anything else in this Section
6.02 and Section 6.04 to the contrary, the Master
Servicer may assign its rights and delegate its duties
and obligations under this Agreement; provided that the
Person accepting such assignment or delegation shall be
a Person which is qualified to service mortgage loans
on behalf of FNMA or FHLMC, is reasonably satisfactory
to the Trustee, the Administrator and the Company, is
willing to service the Mortgage Loans and executes and
delivers to the Company, the Administrator and the
Trustee an agreement, in form and substance reasonably
satisfactory to the Company and the Trustee, which
contains an assumption by such Person of the due and
punctual performance and observance of each covenant
and condition to be performed or observed by the Master
Servicer under this Agreement; provided further that
each Rating Agency's rating of the Classes of
Certificates that have been rated in effect immediately
prior to such assignment and delegation will not be
qualified, reduced or withdrawn as a result of such
assignment and delegation (as evidenced by a letter to
such effect from each Rating Agency). In the case of
any such assignment and delegation, the Master Servicer
shall be released from its obligations under this
Agreement, except that the Master Servicer shall remain
liable for all liabilities and obligations incurred by
it as Master Servicer hereunder prior to the
satisfaction of the conditions to such assignment and
delegation set forth in the next preceding sentence.
Section 6.03. Limitation on Liability of the
Company, the Administrator,
the Master Servicer and Others.
Neither the Company, the Administrator, the
Master Servicer nor any of the directors, officers,
employees or agents of the Company, the Administrator
or the Master Servicer shall be under any liability to
the Trust Fund or the Certificateholders for any action
taken or for refraining from the taking of any action
in good faith pursuant to this Agreement, or for errors
in judgment; provided, however, that this provision
shall not protect the Company, the Administrator, the
Master Servicer or any such Person against any breach
of warranties or representations made herein or any
liability which would otherwise be imposed by reason of
willful misfeasance, bad faith or gross negligence in
the performance of duties or by reason of reckless
disregard of obligations and duties hereunder. The
Company, the Administrator, the Master Servicer and any
director, officer, employee or agent of the Company or
the Master Servicer may rely in good faith on any
document of any kind prima facie properly executed and
submitted by any Person respecting any matters arising
hereunder. The Company, the Administrator, the Master
Servicer and any director, officer, employee or agent
of the Company, the Administrator or the Master
Servicer shall be indemnified by the Trust Fund and
held harmless against any loss, liability or expense
incurred in connection with any legal action relating
to this Agreement or the Certificates, other than any
loss, liability or expense related to any specific
Mortgage Loan or Mortgage Loans (except as any such
loss, liability or expense shall be otherwise
reimbursable pursuant to this Agreement) and any loss,
liability or expense incurred by reason of willful
misfeasance, bad faith or gross negligence in the
performance of duties hereunder or by reason of
reckless disregard of obligations and duties hereunder.
Neither the Company, the Administrator nor
the Master Servicer shall be under any obligation to
appear in, prosecute or defend any legal or
administrative action, proceeding, hearing or
examination that is not incidental to its respective
duties under this Agreement and which in its opinion
may involve it in any expense or liability; provided,
however, that the Company, the Administrator or the
Master Servicer may in its discretion undertake any
such action, proceeding, hearing or examination that it
may deem necessary or desirable in respect to this
Agreement and the rights and duties of the parties
hereto and the interests of the Certificateholders
hereunder. In such event, the legal expenses and costs
of such action, proceeding, hearing or examination and
any liability resulting therefrom shall be expenses,
costs and liabilities of the Trust Fund, and the
Company, the Administrator and the Master Servicer
shall be entitled to be reimbursed therefor out of
amounts attributable to the Mortgage Loans on deposit
in the Custodial Account as provided by Section 3.10
and, on the Distribution Date(s) following such
reimbursement, the aggregate of such expenses and costs
shall be allocated in reduction of the Accrued
Certificate Interest on each Class entitled thereto in
the same manner as if such expenses and costs
constituted a Prepayment Interest Shortfall.
Section 6.04. Company, the Administrator and
Master Servicer Not to Resign.
Subject to the provisions of Section 6.02,
neither the Company, the Administrator nor the Master
Servicer shall resign from its respective obligations
and duties hereby imposed on it except upon
determination that its duties hereunder are no longer
permissible under applicable law. Any such
determination permitting the resignation of the
Company, the Administrator or the Master Servicer shall
be evidenced by an Opinion of Counsel to such effect
delivered to the Trustee. No such resignation by the
Master Servicer shall become effective until the
Trustee or a successor servicer shall have assumed the
Master Servicer's responsibilities and obligations in
accordance with Section 7.02. No such resignation of
the Administrator shall become effective until the
Trustee shall have assumed the Administrator's
responsibilities and obligations under this Agreement,
or shall have appointed a successor Administrator
reasonably acceptable to the Trustee.
ARTICLE VII
DEFAULT
Section 7.01. Events of Default.
Event of Default, wherever used herein, means
any one of the following events (whatever reason for
such Event of Default and whether it shall be voluntary
or involuntary or be effected by operation of law or
pursuant to any judgment, decree or order of any court
or any order, rule or regulation of any administrative
or governmental body):
(i) the Master Servicer shall fail to
distribute or cause to be distributed to the Owner
of the Excess Spread or to Holders of Certificates
of any Class any distribution required to be made
under the terms of the Certificates of such Class
and this Agreement and, in either case, such
failure shall continue unremedied for a period of
5 days after the date upon which written notice of
such failure, requiring such failure to be
remedied, shall have been given to the Master
Servicer by the Trustee or the Company or to the
Master Servicer, the Company and the Trustee by
the Owner of the Excess Spread or the Holders of
Certificates of such Class evidencing Percentage
Interests aggregating not less than 25%; or
(ii) the Master Servicer shall fail to
observe or perform in any material respect any
other of the covenants or agreements on the part
of the Master Servicer contained in the
Certificates of any Class or in this Agreement and
such failure shall continue unremedied for a
period of 30 days (except that such number of days
shall be 15 in the case of a failure to pay the
premium for any Required Insurance Policy) after
the date on which written notice of such failure,
requiring the same to be remedied, shall have been
given to the Master Servicer by the Trustee or the
Company, or to the Master Servicer, the Company
and the Trustee by the Owner of the Excess Spread
or the Holders of Certificates of any Class
evidencing, in the case of any such Class,
Percentage Interests aggregating not less than
25%; or
(iii) a decree or order of a court or
agency or supervisory authority having
jurisdiction in the premises in an involuntary
case under any present or future federal or state
bankruptcy, insolvency or similar law or
appointing a conservator or receiver or liquidator
in any insolvency, readjustment of debt,
marshalling of assets and liabilities or similar
proceedings, or for the winding-up or liquidation
of its affairs, shall have been entered against
the Master Servicer and such decree or order shall
have remained in force undischarged or unstayed
for a period of 60 days; or
(iv) the Master Servicer shall consent to the
appointment of a conservator or receiver or
liquidator in any insolvency, readjustment of
debt, marshalling of assets and liabilities, or
similar proceedings of, or relating to, the Master
Servicer or of, or relating to, all or
substantially all of the property of the Master
Servicer; or
(v) the Master Servicer shall admit in
writing its inability to pay its debts generally
as they become due, file a petition to take
advantage of, or commence a voluntary case under,
any applicable insolvency or reorganization
statute, make an assignment for the benefit of its
creditors, or voluntarily suspend payment of its
obligations; or
(vi) the Master Servicer shall notify the
Trustee pursuant to Section 4.04(b) that it is
unable to deposit in the Certificate Account an
amount equal to the Advance.
If an Event of Default described in clauses
(i)-(v) of this Section shall occur, then, and in each
and every such case, so long as such Event of Default
shall not have been remedied, either the Company or the
Trustee may, and at the direction of Holders of
Certificates or the Owner of the Excess Spread entitled
to at least 51% of the Voting Rights, the Trustee
shall, by notice in writing to the Master Servicer (and
to the Company if given by the Trustee or to the
Trustee if given by the Company), terminate all of the
rights and obligations of the Master Servicer under
this Agreement and in and to the Mortgage Loans and the
proceeds thereof, other than its rights as a
Certificateholder hereunder. If an Event of Default
described in clause (vi) hereof shall occur, the
Trustee shall, by notice to the Master Servicer, the
Administrator and the Company, immediately terminate
all of the rights and obligations of the Master
Servicer under this Agreement and in and to the
Mortgage Loans and the proceeds thereof, other than its
rights as a Certificateholder hereunder as provided in
Section 4.04(b). On or after the receipt by the Master
Servicer of such written notice, all authority and
power of the Master Servicer under this Agreement,
whether with respect to the Certificates (other than as
a Holder thereof) or the Mortgage Loans or otherwise,
shall subject to Section 7.02 pass to and be vested in
the Trustee or the Trustee's designee appointed
pursuant to Section 7.02; and, without limitation, the
Trustee is hereby authorized and empowered to execute
and deliver, on behalf of the Master Servicer, as
attorney-in-fact or otherwise, any and all documents
and other instruments, and to do or accomplish all
other acts or things necessary or appropriate to effect
the purposes of such notice of termination, whether to
complete the transfer and endorsement or assignment of
the Mortgage Loans and related documents, or otherwise.
The Master Servicer agrees to cooperate with the
Trustee in effecting the termination of the Master
Servicer's responsibilities and rights hereunder,
including, without limitation, the transfer to the
Trustee or its designee for administration by it of all
cash amounts which shall at the time be credited to the
Custodial Account or the Certificate Account or
thereafter be received with respect to the Mortgage
Loans. No such termination shall release the Master
Servicer for any liability that it would otherwise have
hereunder for any act or omission prior to the
effective time of such termination. The Master
Servicer being terminated shall bear all costs of a
service transfer, including but not limited to those of
the Trustee and Administrator reasonably allocable to
specific employees and overhead, legal fees and
expenses, and costs of amending the Agreement, if
necessary.
Notwithstanding any termination of the
activities of Residential Funding in its capacity as
Master Servicer hereunder, Residential Funding shall be
entitled to receive, out of any late collection of a
Monthly Payment on a Mortgage Loan which was due prior
to the notice terminating Residential Funding's rights
and obligations as Master Servicer hereunder and
received after such notice, that portion to which
Norwest would have been entitled pursuant to Sections
3.10(a)(ii), (vi) and (vii) as well as its Servicing
Fee in respect thereof, and any other amounts payable
to Residential Funding hereunder the entitlement to
which arose prior to the termination of its activities
hereunder. Upon the termination of Norwest as Master
Servicer hereunder the Company shall deliver to the
Trustee a copy of the Program Guide.
Section 7.02. Trustee or Company to Act;
Appointment of Successor.
On and after the time the Master Servicer
receives a notice of termination pursuant to Section
7.01 or resigns in accordance with Section 6.04, the
Trustee or, upon notice to the Company and with the
Administrator's and the Company's consent (which shall
not be unreasonably withheld) a designee (which meets
the standards set forth below) of the Trustee, shall be
the successor in all respects to the Master Servicer in
its capacity as servicer under this Agreement and the
transactions set forth or provided for herein and shall
be subject to all the responsibilities, duties and
liabilities relating thereto placed on the Master
Servicer (except for the responsibilities, duties and
liabilities contained in Sections 2.02 and 2.03(a),
excluding the duty to notify related Subservicers or
Sellers as set forth in such Sections, and its
obligations to deposit amounts in respect of losses
incurred prior to such notice or termination on the
investment of funds in the Custodial Account or the
Certificate Account pursuant to Sections 3.07(c) and
4.01(b) by the terms and provisions hereof); provided,
however, that any failure to perform such duties or
responsibilities caused by the preceding Master
Servicer's failure to provide information required by
Section 4.08 or the Administrator pursuant to Section
4.04, shall not be considered a default by the Trustee
hereunder. As compensation therefor, the Trustee shall
be entitled to all funds relating to the Mortgage Loans
which the Master Servicer would have been entitled to
charge to the Custodial Account or the Certificate
Account if the Master Servicer had continued to act
hereunder and, in addition, shall be entitled to the
income from any Permitted Investments made with amounts
attributable to the Mortgage Loans held in the
Custodial Account or the Certificate Account. If the
Trustee has become the successor to the Master Servicer
in accordance with Section 6.04 or Section 7.01, then
notwithstanding the above, the Trustee may, if it shall
be unwilling to so act, or shall, if it is unable to so
act, appoint, or petition a court of competent
jurisdiction to appoint, any established housing and
home finance institution, which is also a FNMA- or
FHLMC-approved mortgage servicing institution, having a
net worth of not less than $10,000,000 as the successor
to the Master Servicer hereunder in the assumption of
all or any part of the responsibilities, duties or
liabilities of the Master Servicer hereunder. Pending
appointment of a successor to the Master Servicer
hereunder, the Trustee shall become successor to the
Master Servicer and shall act in such capacity as
hereinabove provided. In connection with such
appointment and assumption, the Trustee may make such
arrangements for the compensation of such successor out
of payments on Mortgage Loans as it and such successor
shall agree; provided, however, that no such
compensation shall be in excess of that permitted the
initial Master Servicer hereunder. The Company, the
Trustee, the Custodian and such successor shall take
such action, consistent with this Agreement, as shall
be necessary to effectuate any such succession. The
Servicing Fee for any successor Master Servicer
appointed pursuant to this Section 7.02 will be lowered
with respect to those Mortgage Loans, if any, where the
Subservicing Fee accrues at a rate of less than 0.20%
per annum in the event that the successor Master
Servicer is not servicing such Mortgage Loans directly
and it is necessary to raise the related Subservicing
Fee to a rate of 0.20% per annum in order to hire a
Subservicer with respect to such Mortgage Loans.
Section 7.03. Notification to
Certificateholders.
(a) Upon any such termination or appointment of a
successor to the Master Servicer, the Trustee shall
give prompt written notice thereof to
Certificateholders at their respective addresses
appearing in the Certificate Register.
(b) Within 60 days after the occurrence of any
Event of Default, the Trustee shall transmit by mail to
all Holders of Certificates notice of each such Event
of Default hereunder known to the Trustee, unless such
Event of Default shall have been cured or waived.
Section 7.04. Waiver of Events of Default.
The Holders representing at least 66% of the
Voting Rights of Certificates affected by a default or
Event of Default hereunder, may waive such default or
Event of Default; provided, however, that (a) a default
or Event of Default under clause (i) of Section 7.01
may be waived only by all of the Holders of
Certificates affected by such default or Event of
Default and (b) no waiver pursuant to this Section 7.04
shall affect the Holders of Certificates in the manner
set forth in Section 11.01(b)(i), (ii) or (iii). Upon
any such waiver of a default or Event of Default by the
Holders representing the requisite percentage of Voting
Rights of Certificates affected by such default or
Event of Default, such default or Event of Default
shall cease to exist and shall be deemed to have been
remedied for every purpose hereunder. No such waiver
shall extend to any subsequent or other default or
Event of Default or impair any right consequent thereon
except to the extent expressly so waived.
ARTICLE VIII
CONCERNING THE TRUSTEE
Section 8.01. Duties of Trustee.
(a) The Trustee, prior to the occurrence of an
Event of Default and after the curing of all Events of
Default which may have occurred, undertakes to perform
such duties and only such duties as are specifically
set forth in this Agreement. In case an Event of
Default has occurred (which has not been cured or
waived), the Trustee shall exercise such of the rights
and powers vested in it by this Agreement, and use the
same degree of care and skill in their exercise as a
prudent investor would exercise or use under the
circumstances in the conduct of such investor's own
affairs.
(b) The Trustee, upon receipt of all resolutions,
certificates, statements, opinions, reports, documents,
orders or other instruments furnished to the Trustee
which are specifically required to be furnished
pursuant to any provision of this Agreement, shall
examine them to determine whether they conform to the
requirements of this Agreement. The Trustee shall
notify the Certificateholders of any such documents
which do not materially conform to the requirements of
this Agreement in the event that the Trustee, after so
requesting, does not receive satisfactorily corrected
documents.
The Trustee shall forward or cause to be forwarded
in a timely fashion the notices, reports and statements
required to be forwarded by the Trustee pursuant to
Sections 4.03, 4.06, 7.03 and 10.01. The Trustee shall
furnish in a timely fashion to the Master Servicer such
information as the Master Servicer or the Administrator
may reasonably request from time to time for the Master
Servicer or the Administrator to fulfill its duties as
set forth in this Agreement. The Trustee covenants and
agrees that it shall perform its obligations hereunder
in a manner so as to maintain the status of the Trust
Fund as a REMIC under the REMIC Provisions and to
prevent the imposition of any federal, state or local
income, prohibited transaction, contribution or other
tax on the Trust Fund to the extent that maintaining
such status and avoiding such taxes are reasonably
within the control of the Trustee and are reasonably
within the scope of its duties under this Agreement.
(c) No provision of this Agreement shall be
construed to relieve the Trustee from liability for its
own negligent action, its own negligent failure to act
or its own willful misconduct; provided, however, that:
(i) Prior to the occurrence of an Event of
Default, and after the curing or waiver of all
such Events of Default which may have occurred,
the duties and obligations of the Trustee shall be
determined solely by the express provisions of
this Agreement, the Trustee shall not be liable
except for the performance of such duties and
obligations as are specifically set forth in this
Agreement, no implied covenants or obligations
shall be read into this Agreement against the
Trustee and, in the absence of bad faith on the
part of the Trustee, the Trustee may conclusively
rely, as to the truth of the statements and the
correctness of the opinions expressed therein,
upon any certificates or opinions furnished to the
Trustee by the Company or the Master Servicer and
which on their face, do not contradict the
requirements of this Agreement;
(ii) The Trustee shall not be personally
liable for an error of judgment made in good faith
by a Responsible Officer or Responsible Officers
of the Trustee, unless it shall be proved that the
Trustee was negligent in ascertaining the
pertinent facts;
(iii) The Trustee shall not be personally
liable with respect to any action taken, suffered
or omitted to be taken by it in good faith in
accordance with the direction of
Certificateholders of any Class holding
Certificates which evidence, as to such Class,
Percentage Interests aggregating not less than 25%
as to the time, method and place of conducting any
proceeding for any remedy available to the
Trustee, or exercising any trust or power
conferred upon the Trustee, under this Agreement;
(iv) The Trustee shall not be charged with
knowledge of any default (other than a default in
payment to the Trustee) specified in clauses (i)
and (ii) of Section 7.01 or an Event of Default
under clauses (iii), (iv) and (v) of Section 7.01
unless a Responsible Officer of the Trustee
assigned to and working in the Corporate Trust
Office obtains actual knowledge of such failure or
event or the Trustee receives written notice of
such failure or event at its Corporate Trust
Office from the Master Servicer, the Company or
any Certificateholder; and
(v) Except to the extent provided in Section
7.02, no provision in this Agreement shall require
the Trustee to expend or risk its own funds
(including, without limitation, the making of any
Advance) or otherwise incur any personal financial
liability in the performance of any of its duties
as Trustee hereunder, or in the exercise of any of
its rights or powers, if the Trustee shall have
reasonable grounds for believing that repayment of
funds or adequate indemnity against such risk or
liability is not reasonably assured to it.
(d) The Trustee shall timely pay, from its own
funds, the amount of any and all federal, state and
local taxes imposed on the Trust Fund or its assets or
transactions including, without limitation, (A)
"prohibited transaction" penalty taxes as defined in
Section 860F of the Code, if, when and as the same
shall be due and payable, (B) any tax on contributions
to a REMIC after the Closing Date imposed by Section
860G(d) of the Code and (C) any tax on "net income from
foreclosure property" as defined in Section 860G(c) of
the Code, but only if such taxes arise out of a breach
by the Trustee of its obligations hereunder, which
breach constitutes negligence or willful misconduct of
the Trustee.
(e) The Trustee shall have no duty hereunder with
respect to any complaint, claim, demand, notice or
other document it may resolve or which may be alleged
to have been delivered to or served upon it by the
parties as a consequence of the assignment of any
Mortgage Loan hereunder provided, however, that the
Trustee shall use its best efforts to remit to the
Master Servicer upon receipt any such complaint, claim,
demand, notice or other document (i) which is delivered
to the Corporate Trust Office of the Trustee, (ii) of
which a Responsible Officer has actual knowledge, and
(iii) which contains information sufficient to permit
the Trustee to make a determination that the real
property to which such document relates is a Mortgaged
Property.
Section 8.02. Certain Matters Affecting the
Trustee.
(a) Except as otherwise provided in Section 8.01:
(i) The Trustee may rely and shall be
protected in acting or refraining from acting upon
any resolution, Officers' Certificate, certificate
of auditors or any other certificate, statement,
instrument, opinion, report, notice, request,
consent, order, appraisal, bond or other paper or
document believed by it to be genuine and to have
been signed or presented by the proper party or
parties;
(ii) The Trustee may consult with counsel and
any Opinion of Counsel shall be full and complete
authorization and protection in respect of any
action taken or suffered or omitted by it
hereunder in good faith and in accordance with
such Opinion of Counsel;
(iii) The Trustee shall be under no
obligation to exercise any of the trusts or powers
vested in it by this Agreement or to institute,
conduct or defend any litigation hereunder or in
relation hereto at the request, order or direction
of any of the Certificateholders, pursuant to the
provisions of this Agreement, unless such
Certificateholders shall have offered to the
Trustee reasonable security or indemnity against
the costs, expenses and liabilities which may be
incurred therein or thereby; nothing contained
herein shall, however, relieve the Trustee of the
obligation, upon the occurrence of an Event of
Default (which has not been cured), to exercise
such of the rights and powers vested in it by this
Agreement, and to use the same degree of care and
skill in their exercise as a prudent investor
would exercise or use under the circumstances in
the conduct of such investor's own affairs;
(iv) The Trustee shall not be personally
liable for any action taken, suffered or omitted
by it in good faith and believed by it to be
authorized or within the discretion or rights or
powers conferred upon it by this Agreement;
(v) Prior to the occurrence of an Event of
Default hereunder and after the curing of all
Events of Default which may have occurred, the
Trustee shall not be bound to make any
investigation into the facts or matters stated in
any resolution, certificate, statement,
instrument, opinion, report, notice, request,
consent, order, approval, bond or other paper or
document, unless requested in writing so to do by
Holders of Certificates of any Class evidencing,
as to such Class, Percentage Interests,
aggregating not less than 50%; provided, however,
that if the payment within a reasonable time to
the Trustee of the costs, expenses or liabilities
likely to be incurred by it in the making of such
investigation is, in the opinion of the Trustee,
not reasonably assured to the Trustee by the
security afforded to it by the terms of this
Agreement, the Trustee may require reasonable
indemnity against such expense or liability as a
condition to so proceeding. The reasonable
expense of every such examination shall be paid by
the Master Servicer, if an Event of Default shall
have occurred and is continuing, and otherwise by
the Certificateholder requesting the
investigation;
(vi) The Trustee may execute any of the
trusts or powers hereunder or perform any duties
hereunder either directly or by or through agents
or attorneys; and
(vii) To the extent authorized under the
Code and the regulations promulgated thereunder,
each Holder of a Class R Certificate hereby
irrevocably appoints and authorizes the Trustee to
be its attorney-in-fact for purposes of signing
any Tax Returns required to be filed on behalf of
the Trust Fund. The Trustee shall sign on behalf
of the Trust Fund and deliver to the Administrator
in a timely manner any Tax Returns prepared by or
on behalf of the Administrator that the Trustee is
required to sign as determined by the
Administrator pursuant to applicable federal,
state or local tax laws, provided that the
Administrator shall indemnify the Trustee for
signing any such Tax Returns that contain errors
or omissions.
(b) Following the issuance of the Certificates,
the Trustee shall not accept any contribution of assets
to the Trust Fund unless it shall have obtained or been
furnished with an Opinion of Counsel to the effect that
such contribution will not (i) cause the Trust Fund to
fail to qualify as a REMIC at any time that any
Certificates are outstanding or (ii) cause the Trust
Fund to be subject to any federal tax as a result of
such contribution (including the imposition of any
federal tax on "prohibited transactions" imposed under
Section 860F(a) of the Code).
Section 8.03. Trustee Not Liable for
Certificates or Mortgage
Loans.
The recitals contained herein and in the
Certificates (other than the execution of the
Certificates and relating to the acceptance and receipt
of the Mortgage Loans) shall be taken as the statements
of the Company or the Master Servicer as the case may
be, and the Trustee assumes no responsibility for their
correctness. The Trustee makes no representations as
to the validity or sufficiency of this Agreement or of
the Certificates (except that the Certificates shall be
duly and validly executed and authenticated by it as
Certificate Registrar) or of any Mortgage Loan or
related document. Except as otherwise provided herein,
the Trustee shall not be accountable for the use or
application by the Company or the Master Servicer of
any of the Certificates or of the proceeds of such
Certificates, or for the use or application of any
funds paid to the Company or the Master Servicer in
respect of the Mortgage Loans or deposited in or
withdrawn from the Custodial Account or the Certificate
Account by the Company or the Master Servicer.
Section 8.04. Trustee May Own Certificates.
The Trustee in its individual or any other
capacity may become the owner or pledgee of
Certificates with the same rights it would have if it
were not Trustee.
Section 8.05. Administrator to Pay Trustee's
Fees and Expenses;
Indemnification.
(a) The Administrator covenants and agrees to pay
to the Trustee and any co-trustee from time to time,
and the Trustee and any co-trustee shall be entitled
to, reasonable compensation (which shall not be limited
by any provision of law in regard to the compensation
of a trustee of an express trust) for all services
rendered by each of them in the execution of the trusts
hereby created and in the exercise and performance of
any of the powers and duties hereunder of the Trustee
and any co-trustee, and the Administrator will pay or
reimburse the Trustee and any co-trustee upon request
for all reasonable expenses, disbursements and advances
incurred or made by the Trustee or any co-trustee in
accordance with any of the provisions of this Agreement
(including the reasonable compensation and the expenses
and disbursements of its counsel and of all persons not
regularly in its employ, and the expenses incurred by
the Trustee or any co-trustee in connection with the
appointment of an office or agency pursuant to Section
8.12) except any such expense, disbursement or advance
as may arise from its negligence or bad faith.
(b) The Master Servicer and the Administrator
agree to indemnify the Trustee for, and to hold the
Trustee harmless against, any loss, liability or
expense incurred without negligence or willful
misconduct on its part, arising out of, or in
connection with, the acceptance and administration of
the Trust Fund, including the costs and expenses
(including reasonable legal fees and expenses) of
defending itself against any claim in connection with
the exercise or performance of any of its powers or
duties under this Agreement, (with respect to the
Administrator such indemnification shall be strictly
limited to the extent such loss, liability or expense
is incurred in connection with calculations performed
or information provided by the Administrator solely in
respect to the Certificate Account) provided that:
(i) with respect to any such claim, the
Trustee shall have given the Master Servicer or
the Administrator, as the case may be, written
notice thereof promptly after the Trustee shall
have actual knowledge thereof;
(ii) while maintaining control over its own
defense, the Trustee shall cooperate and consult
fully with the Master Servicer or the
Administrator, as the case may be, in preparing
such defense; and
(iii) notwithstanding anything in this
Agreement to the contrary, the Master Servicer or
the Administrator, as the case may be, shall not
be liable for settlement of any claim by the
Trustee entered into without the prior consent of
the Master Servicer or the Administrator, as the
case may be, which consent shall not be
unreasonably withheld.
No termination of this Agreement shall affect the
obligations created by this Section 8.05(b) of the
Master Servicer or the Administrator, as the case may
be, to indemnify the Trustee under the conditions and
to the extent set forth herein.
Notwithstanding the foregoing, the indemnification
provided by the Master Servicer or the Administrator,
as the case may be, in this Section 8.05(b) shall not
pertain to any loss, liability or expense of the
Trustee, including the costs and expenses of defending
itself against any claim, incurred in connection with
any actions taken by the Trustee at the direction of
Certificateholders pursuant to the terms of this
Agreement.
Section 8.06. Eligibility Requirements for
Trustee.
The Trustee hereunder shall at all times be a
corporation or a national banking association having
its principal office in a state and city acceptable to
the Company and organized and doing business under the
laws of such state or the United States of America,
authorized under such laws to exercise corporate trust
powers, having a combined capital and surplus of at
least $50,000,000 and subject to supervision or
examination by federal or state authority. If such
corporation or national banking association publishes
reports of condition at least annually, pursuant to law
or to the requirements of the aforesaid supervising or
examining authority, then for the purposes of this
Section the combined capital and surplus of such
corporation shall be deemed to be its combined capital
and surplus as set forth in its most recent report of
condition so published. In case at any time the
Trustee shall cease to be eligible in accordance with
the provisions of this Section, the Trustee shall
resign immediately in the manner and with the effect
specified in Section 8.07.
Section 8.07. Resignation and Removal of the
Trustee.
(a) The Trustee may at any time resign and be
discharged from the trusts hereby created by giving
written notice thereof to the Company and the Master
Servicer. Upon receiving such notice of resignation,
the Company shall promptly appoint a successor trustee
by written instrument, in duplicate, one copy of which
instrument shall be delivered to the resigning Trustee
and one copy to the successor trustee. If no successor
trustee shall have been so appointed and have accepted
appointment within 30 days after the giving of such
notice of resignation, the resigning Trustee may
petition any court of competent jurisdiction for the
appointment of a successor trustee.
(b) If at any time the Trustee shall cease to be
eligible in accordance with the provisions of Section
8.06 and shall fail to resign after written request
therefor by the Company and the Master Servicer, or if
at any time the Trustee shall become incapable of
acting, or shall be adjudged bankrupt or insolvent, or
a receiver of the Trustee or of its property shall be
appointed, or any public officer shall take charge or
control of the Trustee or of its property or affairs
for the purpose of rehabilitation, conservation or
liquidation, then the Company may remove the Trustee
and appoint a successor trustee by written instrument,
in duplicate, one copy of which instrument shall be
delivered to the Trustee so removed and one copy to the
successor trustee. In addition, in the event that the
Company determines that the Trustee has failed (i) to
distribute or cause to be distributed to
Certificateholders any amount required to be
distributed hereunder, if such amount is held by the
Trustee or its Paying Agent (other than the Master
Servicer or the Company) for distribution or (ii) to
otherwise observe or perform in any material respect
any of its covenants, agreements or obligations
hereunder, and such failure shall continue unremedied
for a period of 5 days (in respect of clause (i) above)
or 30 days (in respect of clause (ii) above) after the
date on which written notice of such failure, requiring
that the same be remedied, shall have been given to the
Trustee by the Company, then the Company may remove the
Trustee and appoint a successor trustee by written
instrument delivered as provided in the preceding
sentence. In connection with the appointment of a
successor trustee pursuant to the preceding sentence,
the Company shall, on or before the date on which any
such appointment becomes effective, obtain from each
Rating Agency written confirmation that the appointment
of any such successor trustee will not result in the
reduction of the ratings on any class of the
Certificates below the lesser of the then current or
original ratings on such Certificates.
(c) The Holders of Certificates entitled to at
least 51% of the Voting Rights may at any time remove
the Trustee and appoint a successor trustee by written
instrument or instruments, in triplicate, signed by
such Holders or their attorneys-in-fact duly
authorized, one complete set of which instruments shall
be delivered to the Company, one complete set to the
Trustee so removed and one complete set to the
successor so appointed.
(d) Any resignation or removal of the Trustee and
appointment of a successor trustee pursuant to any of
the provisions of this Section shall become effective
upon acceptance of appointment by the successor trustee
as provided in Section 8.08.
Section 8.08. Successor Trustee.
(a) Any successor trustee appointed as provided
in Section 8.07 shall execute, acknowledge and deliver
to the Company and to its predecessor trustee an
instrument accepting such appointment hereunder, and
thereupon the resignation or removal of the predecessor
trustee shall become effective and such successor
trustee shall become effective and such successor
trustee, without any further act, deed or conveyance,
shall become fully vested with all the rights, powers,
duties and obligations of its predecessor hereunder,
with the like effect as if originally named as trustee
herein. The predecessor trustee shall deliver to the
successor trustee all Mortgage Files and related
documents and statements held by it hereunder (other
than any Mortgage Files at the time held by a
Custodian, which shall become the agent of any
successor trustee hereunder), and the Company, the
Master Servicer and the predecessor trustee shall
execute and deliver such instruments and do such other
things as may reasonably be required for more fully and
certainly vesting and confirming in the successor
trustee all such rights, powers, duties and
obligations.
(b) No successor trustee shall accept appointment
as provided in this Section unless at the time of such
acceptance such successor trustee shall be eligible
under the provisions of Section 8.06.
(c) Upon acceptance of appointment by a successor
trustee as provided in this Section, the Company shall
mail notice of the succession of such trustee hereunder
to all Holders of Certificates at their addresses as
shown in the Certificate Register. If the Company
fails to mail such notice within 10 days after
acceptance of appointment by the successor trustee, the
successor trustee shall cause such notice to be mailed
at the expense of the Company.
Section 8.09. Merger or Consolidation of
Trustee.
Any corporation or national banking
association into which the Trustee may be merged or
converted or with which it may be consolidated or any
corporation or national banking association resulting
from any merger, conversion or consolidation to which
the Trustee shall be a party, or any corporation or
national banking association succeeding to the business
of the Trustee, shall be the successor of the Trustee
hereunder, provided such corporation or national
banking association shall be eligible under the
provisions of Section 8.06, without the execution or
filing of any paper or any further act on the part of
any of the parties hereto, anything herein to the
contrary notwithstanding. The Trustee shall mail
notice of any such merger or consolidation to the
Certificateholders at their address as shown in the
Certificate Register.
Section 8.10. Appointment of Co-Trustee
or Separate Trustee.
(a) Notwithstanding any other provisions hereof,
at any time, for the purpose of meeting any legal
requirements of any jurisdiction in which any part of
the Trust Fund or property securing the same may at the
time be located, the Master Servicer and the Trustee
acting jointly shall have the power and shall execute
and deliver all instruments to appoint one or more
Persons approved by the Trustee to act as co-trustee or
co-trustees, jointly with the Trustee, or separate
trustee or separate trustees, of all or any part of the
Trust Fund, and to vest in such Person or Persons, in
such capacity, such title to the Trust Fund, or any
part thereof, and, subject to the other provisions of
this Section 8.10, such powers, duties, obligations,
rights and trusts as the Master Servicer and the
Trustee may consider necessary or desirable. If the
Master Servicer shall not have joined in such
appointment within 15 days after the receipt by it of a
request so to do, or in case an Event of Default shall
have occurred and be continuing, the Trustee alone
shall have the power to make such appointment. No co-
trustee or separate trustee hereunder shall be required
to meet the terms of eligibility as a successor trustee
under Section 8.06 hereunder and no notice to Holders
of Certificates of the appointment of co-trustee(s) or
separate trustee(s) shall be required under Section
8.08 hereof.
(b) In the case of any appointment of a co-
trustee or separate trustee pursuant to this Section
8.10 all rights, powers, duties and obligations
conferred or imposed upon the Trustee shall be
conferred or imposed upon and exercised or performed by
the Trustee, and such separate trustee or co-trustee
jointly, except to the extent that under any law of any
jurisdiction in which any particular act or acts are to
be performed (whether as Trustee hereunder or as
successor to the Master Servicer hereunder), the
Trustee shall be incompetent or unqualified to perform
such act or acts, in which event such rights, powers,
duties and obligations (including the holding of title
to the Trust Fund or any portion thereof in any such
jurisdiction) shall be exercised and performed by such
separate trustee or co-trustee at the direction of the
Trustee.
(c) Any notice, request or other writing given to
the Trustee shall be deemed to have been given to each
of the then separate trustees and co-trustees, as
effectively as if given to each of them. Every
instrument appointing any separate trustee or co-
trustee shall refer to this Agreement and the
conditions of this Article VIII. Each separate trustee
and co-trustee, upon its acceptance of the trusts
conferred, shall be vested with the estates or property
specified in its instrument of appointment, either
jointly with the Trustee or separately, as may be
provided therein, subject to all the provisions of this
Agreement, specifically including every provision of
this Agreement relating to the conduct of, affecting
the liability of, or affording protection to, the
Trustee. Every such instrument shall be filed with the
Trustee.
(d) Any separate trustee or co-trustee may, at
any time, constitute the Trustee, its agent or
attorney-in-fact, with full power and authority, to the
extent not prohibited by law, to do any lawful act
under or in respect of this Agreement on its behalf and
in its name. If any separate trustee or co-trustee
shall die, become incapable of acting, resign or be
removed, all of its estates, properties, rights,
remedies and trusts shall vest in and be exercised by
the Trustee, to the extent permitted by law, without
the appointment of a new or successor trustee.
Section 8.11. Appointment of Custodians.
The Trustee may, with the consent of the
Master Servicer, the Administrator and the Company,
appoint one or more Custodians who are not Affiliates
of the Company, the Master Servicer or any Seller to
hold all or a portion of the Mortgage Files as agent
for the Trustee, by entering into a Custodial
Agreement. Subject to Article VIII, the Trustee agrees
to comply with the terms of each Custodial Agreement
and to enforce the terms and provisions thereof against
the Custodian for the benefit of the
Certificateholders. If at any time the long-term debt
rating of the Custodian assigned by Fitch or Standard &
Poor's falls below A- or A, respectively, Norwest Bank
Minnesota, National Association, shall resign; and if
Norwest Bank Minnesota, National Association fails to
resign as Custodian, the Trustee shall remove Norwest
Bank Minnesota, National Association as Custodian.
Each Custodian shall be a depository institution
subject to supervision by federal or state authority,
shall have a combined capital and surplus of at least
$15,000,000 and shall be qualified to do business in
the jurisdiction in which it holds any Mortgage File.
Each Custodial Agreement may be amended only as
provided in Section 11.01. The Trustee shall notify
the Certificateholders of the appointment of any
Custodian (other than the Custodian appointed as of the
Closing Date) pursuant to this Section 8.11. The
Master Servicer shall pay the fees and expenses of any
Custodian from its own funds.
Section 8.12. Appointment of Office or
Agency.
The Trustee will maintain an office or agency
in the City of New York where Certificates may be
surrendered for registration of transfer or exchange.
The Trustee initially designates its Corporate Trust
Office in New York City for the purpose of keeping the
Certificate Register. The Trustee will maintain an
office at the address stated in the definition of
Corporate Trust Office hereof where notices and demands
to or upon the Trustee in respect of this Agreement may
be served.
ARTICLE IX
TERMINATION
Section 9.01. Termination Upon Purchase by
the Master Servicer or the
Company or Liquidation of All
Mortgage Loans.
(a) Subject to Section 9.03, the respective
obligations and responsibilities of the Company, the
Administrator, the Master Servicer and the Trustee
created hereby in respect of the Certificates (other
than the obligation of the Trustee to make certain
payments after the Final Distribution Date to
Certificateholders and the obligation of the Company to
send certain notices as hereinafter set forth) shall
terminate upon the last action required to be taken by
the Trustee on the Final Distribution Date pursuant to
this Article IX following the earlier of:
(i) the later of the final payment or other
liquidation (or any Advance with respect thereto)
of the last Mortgage Loan remaining in the Trust
Fund or the disposition of all property acquired
upon foreclosure or deed in lieu of foreclosure of
any Mortgage Loan, or
(ii) the purchase by the Master Servicer of
all Mortgage Loans and all property acquired in
respect of any Mortgage Loan remaining in the
Trust Fund at a price equal to 100% of the unpaid
principal balance of each Mortgage Loan or, if
less than such unpaid principal balance, the fair
market value of the related underlying property of
such Mortgage Loan with respect to Mortgage Loans
as to which title has been acquired if such fair
market value is less than such unpaid principal
balance (net of any unreimbursed Advances
attributable to principal) on the day of
repurchase plus accrued interest thereon at the
Mortgage Rate to, but not including, the first day
of the month in which such repurchase price is
distributed, provided, however, that in no event
shall the trust created hereby continue beyond the
expiration of 21 years from the death of the last
survivor of the descendants of Joseph P. Kennedy,
the late ambassador of the United States to the
Court of St. James, living on the date hereof and
provided further that the purchase price set forth
above shall be increased as is necessary, as
determined by the Master Servicer, to avoid
disqualification of the Trust Fund as a REMIC.
The right of the Master Servicer to purchase all
the assets of the Trust Fund pursuant to clause (ii)
above is conditioned upon the Pool Stated Principal
Balance as of the Final Distribution Date being less
than ten percent of the Cut-off Date Principal Balance
of the Mortgage Loans. If such right is exercised by
the Master Servicer, the Master Servicer shall be
deemed to have been reimbursed for the full amount of
any unreimbursed Advances theretofore made by it with
respect to the Mortgage Loans. In addition, the Master
Servicer or the Company, as applicable, shall provide
to the Trustee the certification required by Section
3.15 and the Trustee and any Custodian shall, promptly
following payment of the purchase price, release to the
Master Servicer or the Company, as applicable, the
Mortgage Files pertaining to the Mortgage Loans being
purchased.
(b) The Master Servicer or, in the case of a
final distribution as a result of the exercise by the
Company of its right to purchase the assets of the
Trust Fund, the Company shall give the Trustee and the
Administrator not less than 60 days' prior notice of
the Distribution Date on which the Master Servicer or
the Company, as applicable, anticipates that the final
distribution will be made to Certificateholders
(whether as a result of the exercise by the Master
Servicer or the Company of its right to purchase the
assets of the Trust Fund or otherwise). Notice of any
termination, specifying the anticipated Final
Distribution Date (which shall be a date that would
otherwise be a Distribution Date) upon which the
Certificateholders may surrender their Certificates to
the Trustee (if so required by the terms hereof) for
payment of the final distribution and cancellation,
shall be given promptly by the Master Servicer or the
Company, as applicable (if it is exercising its right
to purchase the assets of the Trust Fund), or by the
Trustee (in any other case) by letter to
Certificateholders mailed not earlier than the 15th day
and not later than the 25th day of the month next
preceding the month of such final distribution
specifying:
(i) the anticipated Final Distribution Date
upon which final payment of the Certificates is
anticipated to be made upon presentation and
surrender of Certificates at the office or agency
of the Trustee therein designated,
(ii) the amount of any such final payment, if
known, and
(iii) that the Record Date otherwise
applicable to such Distribution Date is not
applicable, and in the case of the Class A
Certificates, Class M Certificates and Class R
Certificates, that payment will be made only upon
presentation and surrender of the Certificates at
the office or agency of the Trustee therein
specified.
If the Master Servicer or the Company, as applicable,
is obligated to give notice to Certificateholders as
aforesaid, it shall give such notice to the Certificate
Registrar at the time such notice is given to
Certificateholders. In the event such notice is given
by the Master Servicer or the Company, the Master
Servicer or the Company, as applicable, shall deposit
in the Certificate Account before the Final
Distribution Date in immediately available funds an
amount equal to the purchase price for the assets of
the Trust Fund computed as above provided.
(c) In the case of the Class A Certificates,
Class M and the Class R Certificates, upon presentation
and surrender of the Certificates by the
Certificateholders thereof, the Trustee shall
distribute to the Certificateholders (i) the amount
otherwise distributable on such Distribution Date, if
not in connection with the Master Servicer's or the
Company's election to repurchase, or (ii) if the Master
Servicer or the Company elected to so repurchase, an
amount determined as follows: (A) with respect to each
Certificate the outstanding Certificate Principal
Balance thereof, plus one month's Accrued Certificate
Interest and any previously unpaid Accrued Certificate
Interest, subject to the priority set forth in Section
4.02(a), and (B) with respect to the Class R
Certificates, any excess of the amounts available for
distribution (including the repurchase price specified
in clause (ii) of subsection (a) of this Section) over
the total amount distributed under the immediately
preceding clause (A).
(d) In the event that any Certificateholders
shall not surrender their Certificates for final
payment and cancellation on or before the Final
Distribution Date (if so required by the terms hereof),
the Trustee shall on such date cause all funds in the
Certificate Account not distributed in final
distribution to Certificateholders to be withdrawn
therefrom and credited to the remaining
Certificateholders by depositing such funds in a
separate escrow account for the benefit of such
Certificateholders, and the Master Servicer or the
Company, as applicable (if it exercised its right to
purchase the assets of the Trust Fund), or the Trustee
(in any other case) shall give a second written notice
to the remaining Certificateholders to surrender their
Certificates for cancellation and receive the final
distribution with respect thereto. If within six
months after the second notice any Certificate shall
not have been surrendered for cancellation, the Trustee
shall take appropriate steps as directed by the Master
Servicer or the Company, as applicable, to contact the
remaining Certificateholders concerning surrender of
their Certificates. The costs and expenses of
maintaining the escrow account and of contacting
Certificateholders shall be paid out of the assets
which remain in the escrow account. If within nine
months after the second notice any Certificates shall
not have been surrendered for cancellation, the Trustee
shall pay to the Master Servicer or the Company, as
applicable, all amounts distributable to the holders
thereof and the Master Servicer or the Company, as
applicable, shall thereafter hold such amounts until
distributed to such holders. No interest shall accrue
or be payable to any Certificateholder on any amount
held in the escrow account or by the Master Servicer or
the Company, as applicable, as a result of such
Certificateholder's failure to surrender its
Certificate(s) for final payment thereof in accordance
with this Section 9.01.
Section 9.02. Additional Termination
Requirements.
(a) The Trust Fund shall be terminated in
accordance with the following additional requirements,
unless the Trustee and the Master Servicer have
received an Opinion of Counsel (which Opinion of
Counsel shall not be an expense of the Trustee) to the
effect that the failure of the Trust Fund to comply
with the requirements of this Section 9.02 will not (i)
result in the imposition on the Trust of taxes on
"prohibited transactions," as described in Section 860F
of the Code, or (ii) cause the Trust Fund to fail to
qualify as a REMIC at any time that any Certificate is
outstanding:
(i) The Master Servicer shall establish a
90-day liquidation period for the Trust Fund, and
specify the first day of such period in a
statement attached to the Trust Fund's final Tax
Return pursuant to Treasury regulations Section
1.860F-1. The Master Servicer also shall satisfy
all of the requirements of a qualified liquidation
for the Trust Fund under Section 860F of the Code
and regulations thereunder;
(ii) The Master Servicer shall notify the
Trustee at the commencement of such 90-day
liquidation period and, at or prior to the time of
making of the final payment on the Certificates,
the Trustee shall sell or otherwise dispose of all
of the remaining assets of the Trust Fund in
accordance with the terms hereof; and
(iii) If the Master Servicer is
exercising its right to purchase the assets of the
Trust Fund, the Master Servicer shall, during the
90-day liquidation period and at or prior to the
Final Distribution Date, purchase all of the
assets of the Trust Fund for cash; provided,
however, that in the event that a calendar quarter
ends after the commencement of the 90-day
liquidation period but prior to the Final
Distribution Date, the Master Servicer shall not
purchase any of the assets of the Trust Fund prior
to the close of that calendar quarter.
(b) Each Holder of a Certificate and the Trustee
hereby irrevocably approves and appoints the Master
Servicer as its attorney-in-fact to adopt a plan of
complete liquidation for the Trust Fund at the expense
of the Trust Fund in accordance with the terms and
conditions of this Agreement.
ARTICLE X
REMIC PROVISIONS
Section 10.01. REMIC Administrator.
(a) The Administrator shall make an election
to treat the Trust Fund as a REMIC under the Code and,
if necessary, under applicable state law. Such
election will be made on Form 1066 or other appropriate
federal tax or information return (including Form 8811)
or any appropriate state return for the taxable year
ending on the last day of the calendar year in which
the Certificates are issued. For the purposes of the
REMIC election in respect of the Trust Fund, the Class
A, Class M and Class B Certificates shall be designated
as the "regular interests" and the Class R Certificates
shall be designated as the sole class of "residual
interest" in the Trust Fund. The REMIC Administrator
and the Trustee shall not permit the creation of any
"interests" (within the meaning of Section 860G of the
Code) in the Trust Fund other than the regular
interests and the interests represented by the Class R
Certificates, respectively.
(b) The Closing Date is hereby designated as
the "startup day" of the Trust Fund within the meaning
of Section 860G(a)(9) of the Code.
(c) The Administrator shall hold a Class R
Certificate representing a 0.01% Percentage Interest of
all Class R Certificates and shall be designated as the
tax matters person with respect to the Trust Fund in
the manner provided under Treasury regulations section
1.860F-4(d) and temporary Treasury regulations section
301.6231(a)(7)-1T. The Administrator, as tax matters
person, shall (i) act on behalf of the Trust Fund in
relation to any tax matter or controversy involving the
Trust Fund and (ii) represent the Trust Fund in any
administrative or judicial proceeding relating to an
examination or audit by any governmental taxing
authority with respect thereto. The legal expenses,
including without limitation attorneys' or accountants'
fees, and costs of any such proceeding and any
liability resulting therefrom shall be expenses of the
Trust Fund and the Administrator shall be entitled to
reimbursement therefor out of amounts attributable to
the Mortgage Loans on deposit in the Custodial Account
as provided by Section 3.10 unless such legal expenses
and costs are incurred by reason of the Administrator's
willful misfeasance, bad faith or gross negligence.
(d) The Administrator shall prepare or cause
to be prepared all of the Tax Returns that it
determines are required with respect to the Trust Fund
and deliver such Tax Returns in a timely manner to the
Trustee and the Trustee shall sign and file such Tax
Returns in a timely manner. The expenses of preparing
such returns shall be borne by the Administrator
without any right of reimbursement therefor. The
Administrator agrees to indemnify and hold harmless the
Trustee with respect to any tax or liability arising
from the Trustee's signing of Tax Returns that contain
errors or omissions.
(e) The Administrator shall provide (i) to
any Transferor of a Class R Certificate such
information as is necessary for the application of any
tax relating to the transfer of a Class R Certificate
to any Person who is not a Permitted Transferee, (ii)
to the Trustee and the Trustee shall forward to the
Certificateholders such information or reports as are
required by the Code or the REMIC Provisions including
reports relating to interest, original issue discount
and market discount or premium (using the Prepayment
Assumption) and (iii) to the Internal Revenue Service
the name, title, address and telephone number of the
person who will serve as the representative of the
Trust Fund.
(f) The Master Servicer and the
Administrator shall take such actions and shall cause
the Trust Fund to take such actions as are reasonably
within the Master Servicer's or the REMIC
Administrator's control and the scope of its duties
more specifically set forth herein as shall be
necessary to maintain the status thereof as a REMIC
under the REMIC Provisions (and the Trustee shall
assist the Administrator and the REMIC Administrator,
to the extent reasonably requested by the Master
Servicer and the REMIC Administrator to do so). The
Master Servicer and the REMIC Administrator shall not
knowingly or intentionally take any action, cause the
Trust Fund to take any action or fail to take (or fail
to cause to be taken) any action reasonably within its
control and the scope of duties more specifically set
forth herein, that, under the REMIC Provisions, if
taken or not taken, as the case may be, could (i)
endanger the status of the Trust Fund as a REMIC or
(ii) result in the imposition of a tax upon the Trust
Fund (including but not limited to the tax on
prohibited transactions as defined in Section
860F(a)(2) of the Code and the tax on contributions to
a REMIC set forth in Section 860G(d) of the Code)
(either such event, an "Adverse REMIC Event") unless
the Master Servicer or the Administrator, as
applicable, has received an Opinion of Counsel (at the
expense of the party seeking to take such action or, if
such party fails to pay such expense, and the Master
Servicer or the Administrator, as applicable,
determines that taking such action is in the best
interest of the Trust Fund and the Certificateholders,
at the expense of the Trust Fund, but in no event at
the expense of the Master Servicer, the Administrator
or the Trustee) to the effect that the contemplated
action will not, with respect to the Trust Fund,
endanger such status or, unless the Master Servicer or
the Administrator, as applicable, determines in its
their discretion to indemnify the Trust Fund against
such tax, result in the imposition of such a tax. The
Trustee shall not take or fail to take any action
(whether or not authorized hereunder) as to which the
Master Servicer or the Administrator, as applicable,
has advised it in writing that it has received an
Opinion of Counsel to the effect that an Adverse REMIC
Event could occur with respect to such action. In
addition, prior to taking any action with respect to
the Trust Fund or its assets, or causing the Trust Fund
to take any action, which is not expressly permitted
under the terms of this Agreement, the Trustee will
consult with the Master Servicer or the Administrator,
as applicable, or its designee, in writing, with
respect to whether such action could cause an Adverse
REMIC Event to occur with respect to the Trust Fund,
and the Trustee shall not take any such action or cause
the Trust Fund to take any such action as to which the
Master Servicer or the Administrator, as applicable,
has advised it in writing that an Adverse REMIC Event
could occur. The Master Servicer or the Administrator,
as applicable, may consult with counsel to make such
written advice, and the cost of same shall be borne by
the party seeking to take the action not expressly
permitted by this Agreement, but in no event at the
expense of the Master Servicer or the Administrator.
At all times as may be required by the Code, the Master
Servicer will to the extent within its control and the
scope of its duties more specifically set forth herein,
maintain substantially all of the assets of the Trust
Fund as "qualified mortgages" as defined in Section
860G(a)(3) of the Code and "permitted investments" as
defined in Section 860G(a)(5) of the Code.
(g) In the event that any tax is imposed on
"prohibited transactions" of the Trust Fund as defined
in Section 860F(a)(2) of the Code, on "net income from
foreclosure property" of the Trust Fund as defined in
Section 860G(c) of the Code, on any contributions to
the Trust Fund after the Startup Day therefor pursuant
to Section 860G(d) of the Code, or any other tax is
imposed by the Code or any applicable provisions of
state or local tax laws, such tax shall be charged (i)
to the Master Servicer, if such tax arises out of or
results from a breach by the Master Servicer of any of
its obligations under this Agreement or the Master
Servicer has in its sole discretion determined to
indemnify the Trust Fund against such tax, (ii) to the
Trustee, if such tax arises out of or results from a
breach by the Trustee of any of its obligations under
this Article X, or otherwise (iii) against amounts on
deposit in the Custodial Account as provided by Section
3.10 and on the Distribution Date(s) following such
reimbursement the aggregate of such taxes shall be
allocated in reduction of the Accrued Certificate
Interest on each Class entitled thereto in the same
manner as if such taxes constituted a Prepayment
Interest Shortfall.
(h) The Administrator shall, for federal
income tax purposes, maintain books and records with
respect to the Trust Fund on a calendar year and on an
accrual basis or as otherwise may be required by the
REMIC Provisions.
(i) Following the Startup Day, neither the
Master Servicer nor the Trustee shall accept any
contributions of assets to the Trust Fund unless the
Master Servicer and the Trustee shall have received an
Opinion of Counsel (at the expense of the party seeking
to make such contribution) to the effect that the
inclusion of such assets in the Trust Fund will not
cause the Trust Fund to fail to qualify as a REMIC at
any time that any Certificates are outstanding or
subject the Trust Fund to any tax under the REMIC
Provisions or other applicable provisions of federal,
state and local law or ordinances.
(j) Neither the Master Servicer nor the
Trustee shall enter into any arrangement by which the
Trust Fund will receive a fee or other compensation for
services nor permit either such REMIC to receive any
income from assets other than "qualified mortgages" as
defined in Section 860G(a)(3) of the Code or "permitted
investments" as defined in Section 860G(a)(5) of the
Code.
(k) The Maturity Date of each Class of
Certificates representing a regular interest in the
Trust Fund is December 25, 2025, which is the
Distribution Date in the month of the latest scheduled
maturity of any Mortgage Loan.
(l) Within 30 days after the Closing Date,
the Administrator shall prepare and file with the
Internal Revenue Service Form 8811, "Information Return
for Real Estate Mortgage Investment Conduits (REMIC)
and Issuers of Collateralized Debt Obligations" for the
Trust Fund.
(m) Neither the Trustee nor the Master
Servicer shall sell, dispose of or substitute for any
of the Mortgage Loans (except in connection with (i)
the default, imminent default or foreclosure of a
Mortgage Loan, including but not limited to, the
acquisition or sale of a Mortgaged Property acquired by
deed in lieu of foreclosure, (ii) the bankruptcy of the
Trust Fund, (iii) the termination of the Trust Fund
pursuant to Article IX of this Agreement or (iv) a
purchase of Mortgage Loans pursuant to Article II or
III of this Agreement) nor acquire any assets for the
Trust Fund, nor sell or dispose of any investments in
the Custodial Account or the Certificate Account for
gain, nor accept any contributions to the Trust Fund
after the Closing Date unless it has received an
Opinion of Counsel that such sale, disposition,
substitution or acquisition will not (a) affect
adversely the status of the Trust Fund as a REMIC or
(b) unless the Master Servicer has determined in its
sole discretion to indemnify the Trust Fund against
such tax, cause the Trust Fund to be subject to a tax
on "prohibited transactions" or "contributions"
pursuant to the REMIC Provisions.
Section 10.02. Master Servicer, the
Administrator and Trustee
Indemnification.
(a) The Trustee agrees to indemnify the
Trust Fund, the Company, the Administrator and the
Master Servicer for any taxes and costs including,
without limitation, any reasonable attorneys fees
imposed on or incurred by the Trust Fund, the Company,
the Administrator or the Master Servicer, as a result
of a breach of the Trustee's covenants set forth in
Article VIII or this Article X.
(b) The Administrator agrees to indemnify
the Trust Fund, the Company, the Master Servicer and
the Trustee for any taxes and costs (including, without
limitation, any reasonable attorneys' fees) imposed on
or incurred by the Trust Fund, the Company or the
Trustee, as a result of a breach of the Administrator's
covenants set forth in this Article X or in Article III
with respect to compliance with the REMIC Provisions,
including without limitation, any penalties arising
from the Trustee's execution of Tax Returns prepared by
the Administrator that contain errors or omissions;
provided, however, that such liability will not be
imposed to the extent such breach is a result of an
error or omission in information provided to the
Administrator by the Master Servicer.
(c) The Master Servicer agrees to indemnify
the Trust Fund, the Company, the Administrator and the
Trustee for any taxes and costs (including, without
limitation, any reasonable attorneys' fees) imposed on
or incurred by the Trust Fund, the Company, the
Administrator or the Trustee, as a result of a breach
of the Master Servicer's covenants set forth in this
Article X or in Article III with respect to compliance
with the REMIC Provisions.
ARTICLE XI
MISCELLANEOUS PROVISIONS
Section 11.01. Amendment.
(a) This Agreement or any Custodial Agreement may
be amended from time to time by the Company, the
Administrator, the Master Servicer and the Trustee,
without the consent of any of the Certificateholders:
(i) to cure any ambiguity,
(ii) to correct or supplement any provisions
herein or therein, which may be inconsistent with
any other provisions herein or therein or to
correct any error,
(iii) to modify, eliminate or add to any
of its provisions to such extent as shall be
necessary to maintain the qualification of the
Trust Fund as a REMIC at all times that any
Certificate is outstanding or to avoid or minimize
the risk of the imposition of any tax on the Trust
Fund pursuant to the Code that would be a claim
against the Trust Fund, provided that the Trustee
has received an Opinion of Counsel to the effect
that (A) such action is necessary or desirable to
maintain such qualification or to avoid or
minimize the risk of the imposition of any such
tax and (B) such action will not adversely affect
in any material respect the interests of any
Certificateholder,
(iv) to change the timing and/or nature of
deposits into the Custodial Account or the
Certificate Account or to change the name in which
the Custodial Account is maintained, provided that
(A) the Certificate Account Deposit Date shall in
no event be later than the related Distribution
Date, (B) such change shall not, as evidenced by
an Opinion of Counsel, adversely affect in any
material respect the interests of any
Certificateholder and (C) such change shall not
result in a reduction of the rating assigned to
any Class of Certificates below the lower of the
then-current rating or the rating assigned to such
Certificates as of the Closing Date, as evidenced
by a letter from each Rating Agency to such
effect,
(v) to modify, eliminate or add to the
provisions of Section 5.02(g) or any other
provision hereof restricting transfer of the Class
R Certificates by virtue of their being the
"residual interests" in the Trust Fund, provided
that (A) such change shall not result in reduction
of the rating assigned to any such Class of
Certificates below the lower of the then-current
rating or the rating assigned to such Certificates
as of the Closing Date, as evidenced by a letter
from each Rating Agency to such effect, and (B)
such change shall not, as evidenced by an Opinion
of Counsel (at the expense of the party seeking so
to modify, eliminate or add such provisions),
cause either the Trust Fund or any of the
Certificateholders (other than the transferor) to
be subject to a federal tax caused by a transfer
to a Person that is not a Permitted Transferee, or
(vi) to make any other provisions with
respect to matters or questions arising under this
Agreement or such Custodial Agreement which shall
not be materially inconsistent with the provisions
of this Agreement, provided that such action shall
not, as evidenced by an Opinion of Counsel,
adversely affect in any material respect the
interests of any Certificateholder.
(b) This Agreement or any Custodial Agreement may
also be amended from time to time by the Company, the
Administrator, the Master Servicer and the Trustee with
the consent of the Holders of Certificates evidencing
in the aggregate not less than 66% of the Percentage
Interests of each Class of Certificates affected
thereby, if affected thereby, for the purpose of adding
any provisions to or changing in any manner or
eliminating any of the provisions of this Agreement or
such Custodial Agreement or of modifying in any manner
the rights of the Holders of Certificates of such
Class; provided, however, that no such amendment shall:
(i) reduce in any manner the amount of, or
delay the timing of, payments which are required
to be distributed on any Certificate without the
consent of the Holder of such Certificate,
(ii) adversely affect in any material respect
the interest of the Holders of Certificates of any
Class in a manner other than as described in
clause (i) hereof without the consent of Holders
of Certificates of such Class evidencing, as to
such Class, Percentage Interests aggregating not
less than 66%, or
(iii) reduce the aforesaid percentage of
Certificates of any Class the Holders of which are
required to consent to any such amendment, in any
such case without the consent of the Holders of
all Certificates of such Class then outstanding.
(c) Notwithstanding any contrary provision of
this Agreement, the Trustee shall not consent to any
amendment to this Agreement unless it shall have first
received an Opinion of Counsel (at the expense of the
party seeking such amendment) to the effect that such
amendment or the exercise of any power granted to the
Master Servicer, the Administrator, the Company or the
Trustee in accordance with such amendment will not
result in the imposition of a federal tax on the Trust
Fund or cause the Trust Fund to qualify as a REMIC at
any time that any Certificate is outstanding.
(d) Promptly after the execution of any such
amendment the Trustee shall furnish written
notification of the substance of such amendment to each
Certificateholder. It shall not be necessary for the
consent of Certificateholders under this Section 11.01
to approve the particular form of any proposed
amendment, but it shall be sufficient if such consent
shall approve the substance thereof. The manner of
obtaining such consents and of evidencing the
authorization of the execution thereof by
Certificateholders shall be subject to such reasonable
regulations as the Trustee may prescribe.
(e) The Company shall have the option, in its
sole discretion, to obtain and deliver to the Trustee
any corporate guaranty, payment obligation, irrevocable
letter of credit, surety bond, insurance policy or
similar instrument or a reserve fund, or any
combination of the foregoing, for the purpose of
protecting the Holders of the Class B Certificates
against any or all Realized Losses or other shortfalls.
Any such instrument or fund shall be held by the
Trustee for the benefit of the Class B
Certificateholders, but shall not be and shall not be
deemed to be under any circumstances included in the
Trust Fund. To the extent that any such instrument or
fund constitutes a reserve fund for federal income tax
purposes, (i) any reserve fund so established shall be
an outside reserve fund and not an asset of the Trust
Fund, (ii) any such reserve fund shall be owned by the
Company, and (iii) amounts transferred by the Trust
Fund to any such reserve fund shall be treated as
amounts distributed by the Trust Fund to the Company or
any successor, all within the meaning of proposed
Treasury Regulations Section 1.860G-1(h) as it reads as
of the Cut-off Date. In connection with the provision
of any such instrument or fund, this Agreement and any
provision hereof may be modified, added to, deleted or
otherwise amended in any manner that is related or
incidental to such instrument or fund or the
establishment or administration thereof, such amendment
to be made by written instrument executed or consented
to by the Company but without the consent of any
Certificateholder and without the consent of the Master
Servicer or the Trustee being required unless any such
amendment would impose any additional obligation on, or
otherwise adversely affect the interests of the Class A
Certificateholders, the Class R Certificateholders, the
Class M Certificateholders, the Master Servicer or the
Trustee, as applicable; provided that the Company
obtains an Opinion of Counsel (which need not be an
opinion of Independent counsel) to the effect that any
such amendment will not cause (a) any federal tax to be
imposed on the Trust Fund, including without
limitation, any federal tax imposed on "prohibited
transactions" under Section 860F(a)(1) of the Code or
on "contributions after the startup date" under Section
860G(d)(1) of the Code and (b) cause the Trust Fund to
fail to qualify as a REMIC at any time that any
Certificate is outstanding.
Section 11.02. Recordation of Agreement;
Counterparts.
(a) To the extent permitted by applicable law,
this Agreement is subject to recordation in all
appropriate public offices for real property records in
all the counties or other comparable jurisdictions in
which any or all of the properties subject to the
Mortgages are situated, and in any other appropriate
public recording office or elsewhere, such recordation
to be effected by the Master Servicer and at its
expense on direction by the Trustee (pursuant to the
request of Holders of Certificates entitled to at least
25% of the Voting Rights), but only upon direction
accompanied by an Opinion of Counsel to the effect that
such recordation materially and beneficially affects
the interests of the Certificateholders.
(b) For the purpose of facilitating the
recordation of this Agreement as herein provided and
for other purposes, this Agreement may be executed
simultaneously in any number of counterparts, each of
which counterparts shall be deemed to be an original,
and such counterparts shall constitute but one and the
same instrument.
Section 11.03. Limitation on Rights
of Certificateholders.
(a) The death or incapacity of any
Certificateholder shall not operate to terminate this
Agreement or the Trust Fund, nor entitle such
Certificateholder's legal representatives or heirs to
claim an accounting or to take any action or proceeding
in any court for a partition or winding up of the Trust
Fund, nor otherwise affect the rights, obligations and
liabilities of any of the parties hereto.
(b) Neither Norwest, as the owner of the Spread
on the Mortgage Loans, nor any Certificateholder shall
have any right to vote (except as expressly provided
herein) or in any manner otherwise control the
operation and management of the Trust Fund, or the
obligations of the parties hereto, nor shall anything
herein set forth, or contained in the terms of the
Certificates, be construed so as to constitute the
Certificateholders from time to time as partners or
members of an association; nor shall any
Certificateholder be under any liability to any third
person by reason of any action taken by the parties to
this Agreement pursuant to any provision hereof.
(c) No Certificateholder shall have any right by
virtue of any provision of this Agreement to institute
any suit, action or proceeding in equity or at law upon
or under or with respect to this Agreement, unless such
Holder previously shall have given to the Trustee a
written notice of default and of the continuance
thereof, as hereinbefore provided, and unless also the
Holders of Certificates of any Class evidencing in the
aggregate not less than 25% of the related Percentage
Interests of such Class, shall have made written
request upon the Trustee to institute such action, suit
or proceeding in its own name as Trustee hereunder and
shall have offered to the Trustee such reasonable
indemnity as it may require against the costs, expenses
and liabilities to be incurred therein or thereby, and
the Trustee, for 60 days after its receipt of such
notice, request and offer of indemnity, shall have
neglected or refused to institute any such action, suit
or proceeding it being understood and intended, and
being expressly covenanted by each Certificateholder
with every other Certificateholder and the Trustee,
that no one or more Holders of Certificates of any
Class shall have any right in any manner whatever by
virtue of any provision of this Agreement to affect,
disturb or prejudice the rights of the Holders of any
other of such Certificates of such Class or any other
Class, or to obtain or seek to obtain priority over or
preference to any other such Holder, or to enforce any
right under this Agreement, except in the manner herein
provided and for the common benefit of
Certificateholders of such Class or all Classes, as the
case may be. For the protection and enforcement of the
provisions of this Section 11.03, each and every
Certificateholder and the Trustee shall be entitled to
such relief as can be given either at law or in equity.
Section 11.04. Governing Law.
This agreement and the Certificates shall be
governed by and construed in accordance with the laws
of the State of New York and the obligations, rights
and remedies of the parties hereunder shall be
determined in accordance with such laws.
Section 11.05. Notices.
All demands and notices hereunder shall be in
writing and shall be deemed to have been duly given if
personally delivered at or mailed by registered mail,
postage prepaid (except for notices to the Trustee
which shall be deemed to have been duly given only when
received), to (a) in the case of the Company and the
Administrator, 8400 Normandale Lake Boulevard, Suite
700, Minneapolis, Minnesota 55437, Attention:
President, or such other address as may hereafter be
furnished to the Master Servicer and the Trustee in
writing by the Company or the Administrator, (b) in the
case of the Master Servicer, 405 Southwest 5th Street,
Des Moines, Iowa 50328 or such other address as may be
hereafter furnished to the Company, the Administrator
and the Trustee by the Master Servicer in writing, (c)
in the case of the Trustee, The First National Bank of
Chicago, Attention: Residential Funding Corporation
Series 1995-R20 or such other address as may hereafter
be furnished to the Company, the Administrator and the
Master Servicer in writing by the Trustee, (d) in the
case of Fitch, One State Street Plaza, New York, New
York 10004, or such other address as may hereafter be
furnished to the Company, the Administrator, the
Trustee and the Master Servicer in writing by Fitch and
(e) in the case of Standard & Poor's, 25 Broadway, New
York, New York 10004 or such other address as may be
hereafter furnished to the Company, the Administrator,
Trustee, and Master Servicer by Standard & Poor's. Any
notice required or permitted to be mailed to a
Certificateholder shall be given by first class mail,
postage prepaid, at the address of such holder as shown
in the Certificate Register. Any notice so mailed
within the time prescribed in this Agreement shall be
conclusively presumed to have been duly given, whether
or not the Certificateholder receives such notice.
Section 11.06. Notices to Rating Agency.
The Company, the Master Servicer or the
Trustee, as applicable, shall notify each Rating Agency
and the Subservicer at such time as it is otherwise
required pursuant to this Agreement to give notice of
the occurrence of, any of the events described in
clause (a), (b), (c), (d), (g), (h), (i) or (j) below
or provide a copy to each Rating Agency at such time as
otherwise required to be delivered pursuant to this
Agreement of any of the statements described in clauses
(e) and (f) below:
(a) a material change or amendment to this
Agreement,
(b) the occurrence of an Event of Default,
(c) the termination or appointment of a
successor Master Servicer or Trustee or a change
in the majority ownership of the Trustee,
(d) the filing of any claim under the Master
Servicer's blanket fidelity bond and the errors
and omissions insurance policy required by Section
3.12 or the cancellation or modification of
coverage under any such instrument,
(e) the statement required to be delivered
to the Holders of each Class of Certificates
pursuant to Section 4.03,
(f) the statements required to be delivered
pursuant to Sections 3.18 and 3.19,
(g) a change in the location of the
Custodial Account or the Certificate Account,
(h) the occurrence of any monthly cash flow
shortfall to the Holders of any Class of
Certificates resulting from the failure by the
Master Servicer to make an Advance pursuant to
Section 4.04,
(i) the occurrence of the Final Distribution
Date, and
(j) the repurchase of or substitution for
any Mortgage Loan,
provided, however, that with respect to notice of the
occurrence of the events described in clauses (d), (g)
or (h) above, the Master Servicer shall provide prompt
written notice to each Rating Agency and the
Subservicer of any such event known to the Master
Servicer.
Section 11.07. Severability of Provisions.
If any one or more of the covenants,
agreements, provisions or terms of this Agreement shall
be for any reason whatsoever held invalid, then such
covenants, agreements, provisions or terms shall be
deemed severable from the remaining covenants,
agreements, provisions or terms of this Agreement and
shall in no way affect the validity or enforceability
of the other provisions of this Agreement or of the
Certificates or the rights of the Holders thereof.
Section 11.08. Norwest's Right to Spread
Absolute.
Norwest's right to receive the Spread with
respect to each Mortgage Loan shall be absolute and
unconditional, and shall survive notwithstanding the
termination of the rights and obligations of the Master
Servicer hereunder, the resignation of the Master
Servicer or the termination of this Agreement.
Norwest's right to receive the Spread shall not be
subject to offset or counterclaim, whether or not such
right has been assigned in whole or in part,
notwithstanding any breach of any representation or
warranty of Norwest herein or any default by Norwest of
any of its obligations or covenants hereunder. Norwest
shall have the right to assign any or all of its rights
in and to the Spread, without notice to or the consent
of any party to this Agreement or any
Certificateholder; provided, however, that upon any
such assignment the Company shall notify the Trustee of
such assignment.
IN WITNESS WHEREOF, the Company, the
Administrator, the Master Servicer and the Trustee have
caused their names to be signed hereto by their
respective officers thereunto duly authorized and their
respective seals, duly attested, to be hereunto
affixed, all as of the day and year first above
written.
RESIDENTIAL FUNDING
MORTGAGE SECURITIES I,
INC.
By:
Name:
Title:
Attest:
Name:
Title:
RESIDENTIAL FUNDING
CORPORATION
By:
Name:
Title:
Attest:
Name:
Title:
THE FIRST NATIONAL BANK
OF CHICAGO, as Trustee
By:
Name:
Title:
Attest:
Name:
Title:
NORWEST MORTGAGE, INC.
By:
Name:
Title:
STATE OF MINNESOTA )
) ss.:
COUNTY OF HENNEPIN )
On the 13th day of December, 1995 before me, a
notary public in and for said State, personally appeared
_____________, known to me to be a Vice President of
Residential Funding Mortgage Securities I, Inc., one of
the corporations that executed the within instrument, and
also known to me to be the person who executed it on
behalf of said corporation, and acknowledged to me that
such corporation executed the within instrument.
IN WITNESS WHEREOF, I have hereunto set my hand
and affixed my official seal the day and year in this
certificate first above written.
Notary Public
[Notarial Seal]
STATE OF MINNESOTA )
) ss.:
COUNTY OF HENNEPIN )
On the 13th day of December, 1995 before me, a
notary public in and for said State, personally appeared
_________________, known to me to be a Director of
Residential Funding Corporation, one of the corporations
that executed the within instrument, and also known to me
to be the person who executed it on behalf of said
corporation, and acknowledged to me that such corporation
executed the within instrument.
IN WITNESS WHEREOF, I have hereunto set my hand
and affixed my official seal the day and year in this
certificate first above written.
Notary Public
[Notarial Seal]
STATE OF ILLINOIS )
) ss.:
COUNTY OF COOK )
On the 13th day of December, 1995 before me, a
notary public in and for said State, personally appeared
__________________________________, known to me to be a
Vice President of The First National Bank of Chicago, the
national banking association that executed the within
instrument, and also known to me to be the person who
executed it on behalf of said corporation, and
acknowledged to me that such corporation executed the
within instrument.
IN WITNESS WHEREOF, I have hereunto set my hand
and affixed my official seal the day and year in this
certificate first above written.
Notary Public
[Notarial Seal]
STATE OF IOWA )
) ss.:
COUNTY OF )
On the 13th day of December, 1995 before me, a
notary public in and for said State, personally appeared
_____________, known to me to be a __________________ of
Norwest Mortgage, Inc., one of the corporations that
executed the within instrument, and also known to me to
be the person who executed it on behalf of said
corporation, and acknowledged to me that such corporation
executed the within instrument.
IN WITNESS WHEREOF, I have hereunto set my hand
and affixed my official seal the day and year in this
certificate first above written.
Notary Public
[Notarial Seal]
EXHIBIT A
FORM OF CLASS A CERTIFICATE
SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES,
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL
ESTATE MORTGAGE INVESTMENT CONDUIT," AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE
INTERNAL REVENUE CODE OF 1986.
[THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED,
OR THE SECURITIES LAWS OF ANY STATE AND MAY NOT BE RESOLD
OR TRANSFERRED UNLESS IT IS REGISTERED PURSUANT TO SUCH
ACT AND LAWS OR IS SOLD OR TRANSFERRED IN TRANSACTIONS
WHICH ARE EXEMPT FROM REGISTRATION UNDER SUCH ACT AND
UNDER APPLICABLE STATE LAW AND IS TRANSFERRED IN
ACCORDANCE WITH THE PROVISIONS OF SECTION 5.02 OF THE
AGREEMENT.]
[THE FOLLOWING INFORMATION IS PROVIDED SOLELY
FOR THE PURPOSES OF APPLYING THE U.S. FEDERAL INCOME TAX
ORIGINAL ISSUE DISCOUNT ("OID") RULES TO THIS
CERTIFICATE. THE ISSUE DATE OF THIS CERTIFICATE IS
DECEMBER 13, 1995. ASSUMING THAT THE MORTGAGE LOANS
PREPAY AT 265% OF THE STANDARD PREPAYMENT ASSUMPTION (AS
DESCRIBED IN THE PROSPECTUS SUPPLEMENT), [AND ASSUMING A
CONSTANT PASS-THROUGH RATE EQUAL TO THE INITIAL PASS-
THROUGH RATE,] THIS CERTIFICATE HAS BEEN ISSUED WITH NO
MORE THAN $_____ OF OID PER [$1,000] [$100,000] OF
[INITIAL CERTIFICATE PRINCIPAL BALANCE], THE YIELD TO
MATURITY IS ___% AND THE AMOUNT OF OID ATTRIBUTABLE TO
THE INITIAL ACCRUAL PERIOD IS NO MORE THAN $_______ PER
[$1,000] [$100,000] OF [INITIAL CERTIFICATE PRINCIPAL
BALANCE], COMPUTED USING THE APPROXIMATE METHOD. NO
REPRESENTATION IS MADE THAT THE MORTGAGE LOANS WILL
PREPAY AT A RATE BASED ON THE STANDARD PREPAYMENT
ASSUMPTION OR AT ANY OTHER RATE OR AS TO THE CONSTANCY OF
THE PASS-THROUGH RATE.]
Certificate No. ____ [___%][Variable] Pass-
Through Rate
Class A-__ Senior
Date of Pooling and Servicing
Agreement and Cut-off Date: [Percentage
Interest: ___%]
December 1, 1995
Aggregate [Initial Certificate
Principal Balance]
First Distribution Date: of the Class A-__
Certificates:
January 25, 1995 $_____________]
Master Servicer: [Initial] [Certificate Principal
Norwest Mortgage, Balance] of this
Inc. Certificate: $_____________]
Assumed Final
Distribution Date: CUSIP _______-_____
December 25, 2025
MORTGAGE PASS-THROUGH CERTIFICATE
SERIES 1995-R20
evidencing a percentage interest in the
distributions allocable to the Class A-__
Certificates with respect to a Trust Fund
consisting primarily of a pool of conventional
one- to four-family fixed interest rate first
mortgage loans formed and sold by RESIDENTIAL
FUNDING MORTGAGE SECURITIES I, INC.
This Certificate is payable solely from the
assets of the Trust Fund, and does not represent an
obligation of or interest in Residential Funding Mortgage
Securities I, Inc., the Master Servicer, the Trustee
referred to below or GMAC Mortgage Corporation or any of
their affiliates. Neither this Certificate nor the
underlying Mortgage Loans are guaranteed or insured by
any governmental agency or instrumentality or by
Residential Funding Mortgage Securities I, Inc., the
Master Servicer, the Trustee or GMAC Mortgage Corporation
or any of their affiliates. None of the Company, the
Master Servicer, GMAC Mortgage Corporation or any of
their affiliates will have any obligation with respect to
any certificate or other obligation secured by or payable
from payments on the Certificates.
This certifies that
_____________________________ is the registered owner of
the Percentage Interest evidenced by this Certificate
[(obtained by dividing the Initial Certificate Principal
Balance of this Certificate by the aggregate Initial
Certificate Principal Balance of all Class A-___
Certificates, both as specified above)] in certain
distributions with respect to the Trust Fund consisting
primarily of an interest in a pool of conventional one-
to four-family fixed interest rate first mortgage loans
(the "Mortgage Loans"), formed and sold by Residential
Funding Mortgage Securities I, Inc. (hereinafter called
the "Company," which term includes any successor entity
under the Agreement referred to below). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement
dated as specified above (the "Agreement") among the
Company, the Master Servicer and Bankers Trust Company,
as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereafter. To
the extent not defined herein, the capitalized terms used
herein have the meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the
acceptance hereof assents and by which such Holder is
bound.
Pursuant to the terms of the Agreement, a
distribution will be made on the 25th day of each month
or, if such 25th day is not a Business Day, the Business
Day immediately following (the "Distribution Date"),
commencing as described in the Agreement, to the Person
in whose name this Certificate is registered at the close
of business on the last day (or if such last day is not
a Business Day, the Business Day immediately preceding
such last day) of the month immediately preceding the
month of such distribution (the "Record Date"), from the
Available Distribution Amount in an amount equal to the
product of the Percentage Interest evidenced by this
Certificate and the amount [(of interest and principal,
if any)] required to be distributed to Holders of Class
A-__ Certificates on such Distribution Date.
Distributions on this Certificate will be made
either by the Master Servicer acting on behalf of the
Trustee or by a Paying Agent appointed by the Trustee in
immediately available funds (by wire transfer or
otherwise) for the account of the Person entitled thereto
if such Person shall have so notified the Master Servicer
or such Paying Agent, or by check mailed to the address
of the Person entitled thereto, as such name and address
shall appear on the Certificate Register.
Notwithstanding the above, the final
distribution on this Certificate will be made after due
notice of the pendency of such distribution and only upon
presentation and surrender of this Certificate at the
office or agency appointed by the Trustee for that
purpose in the City and State of New York. [The Initial
Certificate Principal Balance of this Certificate is set
forth above. The Certificate Principal Balance hereof
will be reduced to the extent of distributions allocable
to principal and any Realized Losses allocable hereto.]
This Certificate is one of a duly authorized
issue of Certificates issued in several Classes
designated as Mortgage Pass-Through Certificates of the
Series specified hereon (herein collectively called the
"Certificates").
The Certificates are limited in right of
payment to certain collections and recoveries respecting
the Mortgage Loans, all as more specifically set forth
herein and in the Agreement. In the event Master
Servicer funds are advanced with respect to any Mortgage
Loan, such advance is reimbursable to the Master
Servicer, to the extent provided in the Agreement, from
related recoveries on such Mortgage Loan or from other
cash that would have been distributable to
Certificateholders.
As provided in the Agreement, withdrawals from
the Custodial Account and/or the Certificate Account
created for the benefit of Certificateholders may be made
by the Master Servicer from time to time for purposes
other than distributions to Certificateholders, such
purposes including without limitation reimbursement to
the Company and the Master Servicer of advances made, or
certain expenses incurred, by either of them.
The Agreement permits, with certain exceptions
therein provided, the amendment of the Agreement and the
modification of the rights and obligations of the
Company, the Master Servicer and the Trustee and the
rights of the Certificateholders under the Agreement at
any time by the Company, the Master Servicer and the
Trustee with the consent of the Holders of Certificates
evidencing in the aggregate not less than 66% of the
Percentage Interests of each Class of Certificates
affected thereby. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such
Holder and upon all future holders of this Certificate
and of any Certificate issued upon the transfer hereof or
in exchange herefor or in lieu hereof whether or not
notation of such consent is made upon the Certificate.
The Agreement also permits the amendment thereof in
certain circumstances without the consent of the Holders
of any of the Certificates and, in certain additional
circumstances, without the consent of the Holders of
certain Classes of Certificates.
As provided in the Agreement and subject to
certain limitations therein set forth, the transfer of
this Certificate is registrable in the Certificate
Register upon surrender of this Certificate for
registration of transfer at the offices or agencies
appointed by the Trustee in the City and State of New
York, duly endorsed by, or accompanied by an assignment
in the form below or other written instrument of transfer
in form satisfactory to the Trustee and the Certificate
Registrar duly executed by the Holder hereof or such
Holder's attorney duly authorized in writing, and
thereupon one or more new Certificates of authorized
denominations evidencing the same Class and aggregate
Percentage Interest will be issued to the designated
transferee or transferees.
The Certificates are issuable only as
registered Certificates without coupons in Classes and in
denominations specified in the Agreement. As provided in
the Agreement and subject to certain limitations therein
set forth, Certificates are exchangeable for new
Certificates of authorized denominations evidencing the
same Class and aggregate Percentage Interest, as
requested by the Holder surrendering the same.
No service charge will be made for any such
registration of transfer or exchange, but the Trustee may
require payment of a sum sufficient to cover any tax or
other governmental charge payable in connection
therewith.
The Company, the Master Servicer, the Trustee
and the Certificate Registrar and any agent of the
Company, the Master Servicer, the Trustee or the
Certificate Registrar may treat the Person in whose name
this Certificate is registered as the owner hereof for
all purposes, and neither the Company, the Master
Servicer, the Trustee nor any such agent shall be
affected by notice to the contrary.
This Certificate shall be governed by and
construed in accordance with the laws of the State of New
York.
The obligations created by the Agreement in
respect of the Certificates and the Trust Fund created
thereby shall terminate upon the payment to
Certificateholders of all amounts held by or on behalf of
the Trustee and required to be paid to them pursuant to
the Agreement following the earlier of (i) the maturity
or other liquidation of the last Mortgage Loan subject
thereto or the disposition of all property acquired upon
foreclosure or deed in lieu of foreclosure of any
Mortgage Loan and (ii) the purchase by the Master
Servicer or the Company from the Trust Fund of all
remaining Mortgage Loans and all property acquired in
respect of such Mortgage Loans, thereby effecting early
retirement of the Certificates. The Agreement permits,
but does not require, the Master Servicer or the Company
to (i) purchase at a price determined as provided in the
Agreement all remaining Mortgage Loans and all property
acquired in respect of any Mortgage Loan or (ii) purchase
in whole, but not in part, all of the Certificates from
the Holders thereof; provided, that any such option may
only be exercised if the Pool Stated Principal Balance of
the Mortgage Loans as of the Distribution Date upon which
the proceeds of any such purchase are distributed is less
than ten percent of the Cut-off Date Principal Balance of
the Mortgage Loans.
Reference is hereby made to the further
provisions of this Certificate set forth on the reverse
hereof, which further provisions shall for all purposes
have the same effect as if set forth at this place.
Unless the certificate of authentication hereon
has been executed by the Certificate Registrar, by manual
signature, this Certificate shall not be entitled to any
benefit under the Agreement or be valid for any purpose.
IN WITNESS WHEREOF, the Trustee has caused this
Certificate to be duly executed.
Dated: The First National Bank
of Chicago, as Trustee
By:
Authorized Signatory
CERTIFICATE OF AUTHENTICATION
This is one of the Class A-__ Certificates
referred to in the within-mentioned Agreement.
The First National Bank
of Chicago, as
Certificate Registrar
By:
Authorized Signatory
ASSIGNMENT
FOR VALUE RECEIVED, the undersigned hereby
sell(s), assign(s) and transfer(s) unto
(Please print or typewrite name and address including
postal zip code of assignee) a Percentage Interest
evidenced by the within Mortgage Pass-Through Certificate
and hereby authorizes the transfer of registration of
such interest to assignee on the Certificate Register of
the Trust Fund.
I (We) further direct the Certificate Registrar
to issue a new Certificate of a like denomination and
Class, to the above named assignee and deliver such
Certificate to the following address:
Dated:
Signature by or on behalf of assignor
Signature Guaranteed
DISTRIBUTION INSTRUCTIONS
The assignee should include the following for
purposes of distribution:
Distributions shall be made, by wire transfer
or otherwise, in immediately available funds to
for the account of
account number , or,
if mailed by check, to
Applicable statements
should be mailed to
.
This information is provided by
, the assignee named above, or
, as its agent.
EXHIBIT B
FORM OF CLASS M CERTIFICATE
THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF PAYMENT TO
THE CLASS A CERTIFICATES AND CLASS R CERTIFICATES [AND
CLASS M-1 CERTIFICATES] AS DESCRIBED IN THE AGREEMENT (AS
DEFINED BELOW).
SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS
CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT," AS THOSE TERMS ARE DEFINED,
RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986 (THE "CODE").
NO TRANSFER OF THIS CERTIFICATE MAY BE MADE TO AN
EMPLOYEE BENEFIT OR OTHER PLAN SUBJECT TO THE PROHIBITED
TRANSACTION PROVISIONS OF THE EMPLOYEE RETIREMENT INCOME
SECURITY ACT OF 1974, AS AMENDED, ("ERISA"), OR SECTION
4975 OF THE CODE, OR TO ANY PERSON WHO IS USING "PLAN
ASSETS" OF ANY SUCH PLAN TO ACQUIRE THIS CERTIFICATE,
UNLESS THE TRANSFEREE PROVIDES AN OPINION OF COUNSEL OR
CERTIFICATION PURSUANT TO SECTION 5.02(f) OF THE
AGREEMENT SATISFACTORY TO THE MASTER SERVICER, THE
COMPANY AND THE TRUSTEE THAT THE PURCHASE OF THIS
CERTIFICATE BY, ON BEHALF OF, OR WITH "PLAN ASSETS" OF
SUCH PLAN IS PERMISSIBLE UNDER APPLICABLE LAW, WILL NOT
CONSTITUTE OR RESULT IN A NON-EXEMPT PROHIBITED
TRANSACTION WITHIN THE MEANING OF SECTION 406 OF ERISA OR
SECTION 4975 OF THE CODE AND WILL NOT SUBJECT THE MASTER
SERVICER, THE COMPANY OR THE TRUSTEE TO ANY OBLIGATION OR
LIABILITY IN ADDITION TO THOSE UNDERTAKEN IN THE
AGREEMENT.
THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR THE
SECURITIES LAWS OF ANY STATE AND MAY NOT BE RESOLD OR
TRANSFERRED UNLESS IT IS REGISTERED PURSUANT TO SUCH ACT
AND LAWS OR IS SOLD OR TRANSFERRED IN TRANSACTIONS WHICH
ARE EXEMPT FROM REGISTRATION UNDER SUCH ACT AND UNDER
APPLICABLE STATE LAW AND IS TRANSFERRED IN ACCORDANCE
WITH THE PROVISIONS OF SECTION 5.02 OF THE AGREEMENT.
[THE FOLLOWING INFORMATION IS PROVIDED SOLELY FOR THE
PURPOSES OF APPLYING THE U.S. FEDERAL INCOME TAX ORIGINAL
ISSUE DISCOUNT ("OID") RULES TO THIS CERTIFICATE. THE
ISSUE DATE OF THIS CERTIFICATE IS DECEMBER 13, 1995.
BASED ON PROPOSED OID REGULATIONS PUBLISHED IN THE
FEDERAL REGISTER ON DECEMBER 22, 1992 AND ASSUMING THAT
THE MORTGAGE LOANS PREPAY AT 265% OF THE STANDARD
PREPAYMENT ASSUMPTION (AS DESCRIBED IN THE PROSPECTUS
SUPPLEMENT), THIS CERTIFICATE HAS BEEN ISSUED WITH NO
MORE THAN $ OF OID PER $1,000 OF INITIAL
CERTIFICATE PRINCIPAL BALANCE, THE YIELD TO MATURITY IS
% AND THE AMOUNT OF OID ATTRIBUTABLE TO THE INITIAL
ACCRUAL PERIOD IS NO MORE THAN $ PER $1,000 OF
INITIAL CERTIFICATE PRINCIPAL BALANCE, COMPUTED UNDER THE
APPROXIMATE METHOD. NO REPRESENTATION IS MADE THAT THE
MORTGAGE LOANS WILL PREPAY AT A RATE BASED ON THE
STANDARD PREPAYMENT ASSUMPTION OR AT ANY OTHER RATE.]
Certificate No. ___ _____% Pass-Through
Rate
Class M- Subordinate Aggregate
Certificate
Principal Balance
of the Class M
Certificates:
Date of Pooling and Servicing
$_______________
Agreement and Cut-off Date:
December 1, 1995 Initial Certificate Principal
Balance of this Certificate:
First Distribution Date: $_______________
January 25, 1996
CUSIP: _____
Master Servicer:
Norwest Mortgage, Inc.
Assumed Final Distribution Date:
December 25, 2025
MORTGAGE PASS-THROUGH CERTIFICATE,
SERIES 1995-R20
evidencing a percentage interest in any
distributions allocable to the Class M-__
Certificates with respect to the Trust Fund
consisting primarily of a pool of conventional
one- to four-family fixed interest rate first
mortgage loans formed and sold by RESIDENTIAL
FUNDING MORTGAGE SECURITIES I, INC.
This Certificate is payable solely from the
assets of the Trust Fund, and does not represent an
obligation of or interest in Residential Funding Mortgage
Securities I, Inc., the Master Servicer, the Trustee
referred to below or GMAC Mortgage Corporation or any of
their affiliates. Neither this Certificate nor the
underlying Mortgage Loans are guaranteed or insured by
any governmental agency or instrumentality or by
Residential Funding Mortgage Securities I, Inc., the
Master Servicer, the Trustee or GMAC Mortgage Corporation
or any of their affiliates. None of the Company, the
Master Servicer, GMAC Mortgage Corporation or any of
their affiliates will have any obligation with respect to
any certificate or other obligation secured by or payable
from payments on the Certificates.
This certifies that _________________________
is the registered owner of the Percentage Interest
evidenced by this Certificate (obtained by dividing the
Certificate Principal Balance of this Certificate by the
aggregate Certificate Principal Balance of all Class M-__
Certificates, both as specified above) in certain
distributions with respect to a Trust Fund consisting
primarily of a pool of conventional one- to four-family
fixed interest rate first mortgage loans (the "Mortgage
Loans"), formed and sold by Residential Funding Mortgage
Securities I, Inc. (hereinafter called the "Company,"
which term includes any successor entity under the
Agreement referred to below). The Trust Fund was created
pursuant to a Pooling and Servicing Agreement dated as
specified above (the "Agreement") among the Company, the
Master Servicer and Bankers Trust Company, as trustee
(the "Trustee"), a summary of certain of the pertinent
provisions of which is set forth hereafter. To the
extent not defined herein, the capitalized terms used
herein have the meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the
acceptance hereof assents and by which such Holder is
bound.
Pursuant to the terms of the Agreement, a
distribution will be made on the 25th day of each month
or, if such 25th day is not a Business Day, the Business
Day immediately following (the "Distribution Date"),
commencing as described in the Agreement, to the Person
in whose name this Certificate is registered at the close
of business on the last day (or if such last day is not
a Business Day, the Business Day immediately preceding
such last day) of the month immediately preceding the
month of such distribution (the "Record Date"), from the
Available Distribution Amount in an amount equal to the
product of the Percentage Interest evidenced by this
Certificate and the amount (of interest and principal, if
any) required to be distributed to Holders of Class M-__
Certificates on such Distribution Date.
Distributions on this Certificate will be made
either by the Master Servicer acting on behalf of the
Trustee or by a Paying Agent appointed by the Trustee in
immediately available funds (by wire transfer or
otherwise) for the account of the Person entitled thereto
if such Person shall have so notified the Master Servicer
or such Paying Agent, or by check mailed to the address
of the Person entitled thereto, as such name and address
shall appear on the Certificate Register.
Notwithstanding the above, the final
distribution on this Certificate will be made after due
notice of the pendency of such distribution and only upon
presentation and surrender of this Certificate at the
office or agency appointed by the Trustee for that
purpose in the City and State of New York. The Initial
Certificate Principal Balance of this Certificate is set
forth above. The Certificate Principal Balance hereof
will be reduced to the extent of the distributions
allocable to principal and any Realized Losses allocable
hereto.
This Certificate is one of a duly authorized
issue of Certificates issued in several Classes
designated as Mortgage Pass-Through Certificates of the
Series specified hereon (herein collectively called the
"Certificates").
The Certificates are limited in right of
payment to certain collections and recoveries respecting
the Mortgage Loans, all as more specifically set forth
herein and in the Agreement. In the event Master
Servicer funds are advanced with respect to any Mortgage
Loan, such advance is reimbursable to the Master
Servicer, to the extent provided in the Agreement, from
related recoveries on such Mortgage Loan or from other
cash that would have been distributable to
Certificateholders.
As provided in the Agreement, withdrawals from
the Custodial Account and/or the Certificate Account
created for the benefit of Certificateholders may be made
by the Master Servicer from time to time for purposes
other than distributions to Certificateholders, such
purposes including without limitation reimbursement to
the Company and the Master Servicer of advances made, or
certain expenses incurred, by either of them.
The Agreement permits, with certain exceptions
therein provided, the amendment of the Agreement and the
modification of the rights and obligations of the
Company, the Master Servicer and the Trustee and the
rights of the Certificateholders under the Agreement at
any time by the Company, the Master Servicer and the
Trustee with the consent of the Holders of Certificates
evidencing in the aggregate not less than 66% of the
Percentage Interests of each Class of Certificates
affected thereby. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such
Holder and upon all future holders of this Certificate
and of any Certificate issued upon the transfer hereof or
in exchange herefor or in lieu hereof whether or not
notation of such consent is made upon the Certificate.
The Agreement also permits the amendment thereof in
certain circumstances without the consent of the Holders
of any of the Certificates and, in certain additional
circumstances, without the consent of the Holders of
certain Classes of Certificates.
As provided in the Agreement and subject to
certain limitations therein set forth, the transfer of
this Certificate is registrable in the Certificate
Register upon surrender of this Certificate for
registration of transfer at the offices or agencies
appointed by the Trustee in the City and State of New
York, duly endorsed by, or accompanied by an assignment
in the form below or other written instrument of transfer
in form satisfactory to the Trustee and the Certificate
Registrar duly executed by the Holder hereof or such
Holder's attorney duly authorized in writing, and
thereupon one or more new Certificates of authorized
denominations evidencing the same Class and aggregate
Percentage Interest will be issued to the designated
transferee or transferees.
The Certificates are issuable only as
registered Certificates without coupons in Classes and in
denominations specified in the Agreement. As provided in
the Agreement and subject to certain limitations therein
set forth, Certificates are exchangeable for new
Certificates of authorized denominations evidencing the
same Class and aggregate Percentage Interest, as
requested by the Holder surrendering the same.
No service charge will be made for any such
registration of transfer or exchange, but the Trustee may
require payment of a sum sufficient to cover any tax or
other governmental charge payable in connection
therewith.
The Company, the Master Servicer, the Trustee
and the Certificate Registrar and any agent of the
Company, the Master Servicer, the Trustee or the
Certificate Registrar may treat the Person in whose name
this Certificate is registered as the owner hereof for
all purposes, and neither the Company, the Master
Servicer, the Trustee nor any such agent shall be
affected by notice to the contrary.
This Certificate shall be governed by and
construed in accordance with the laws of the State of New
York.
The obligations created by the Agreement in
respect of the Certificates and the Trust Fund created
thereby shall terminate upon the payment to
Certificateholders of all amounts held by or on behalf of
the Trustee and required to be paid to them pursuant to
the Agreement following the earlier of (i) the maturity
or other liquidation of the last Mortgage Loan subject
thereto or the disposition of all property acquired upon
foreclosure or deed in lieu of foreclosure of any
Mortgage Loan and (ii) the purchase by the Master
Servicer or the Company from the Trust Fund of all
remaining Mortgage Loans and all property acquired in
respect of such Mortgage Loans, thereby effecting early
retirement of the Certificates. The Agreement permits,
but does not require, the Master Servicer or the Company
to (i) purchase at a price determined as provided in the
Agreement all remaining Mortgage Loans and all property
acquired in respect of any Mortgage Loan or (ii) purchase
in whole, but not in part, all of the Certificates from
the Holders thereof; provided, that any such option may
only be exercised if the Pool Stated Principal Balance of
the Mortgage Loans as of the Distribution Date upon which
the proceeds of any such purchase are distributed is less
than ten percent of the Cut-off Date Principal Balance of
the Mortgage Loans.
Unless the certificate of authentication hereon
has been executed by the Certificate Registrar, by manual
signature, this Certificate shall not be entitled to any
benefit under the Agreement or be valid for any purpose.
IN WITNESS WHEREOF, the Trustee has caused this
Certificate to be duly executed.
Dated: The First National Bank of
Chicago, as Trustee
By:
Authorized Signatory
CERTIFICATE OF AUTHENTICATION
This is one of the Class M-__ Certificates
referred to in the within-mentioned Agreement.
First National Bank of
Chicago, as Certificate
Registrar
By:
Authorized Signatory
ASSIGNMENT
FOR VALUE RECEIVED, the undersigned hereby
sell(s), assign(s) and transfer(s) unto
(Please print or typewrite name and address including
postal zip code of assignee) a Percentage Interest
evidenced by the within Mortgage Pass-Through Certificate
and hereby authorizes the transfer of registration of
such interest to assignee on the Certificate Register of
the Trust Fund.
I (We) further direct the Certificate Registrar
to issue a new Certificate of a like denomination and
Class, to the above named assignee and deliver such
Certificate to the following address:
Dated:
Signature by or on behalf of
assignor
Signature Guaranteed
DISTRIBUTION INSTRUCTIONS
The assignee should include the following for
purposes of distribution:
Distributions shall be made, by wire transfer
or otherwise, in immediately available funds to
for the account of
account number , or,
if mailed by check, to
Applicable statements
should be mailed to
.
This information is provided by
, the assignee named above, or
, as its agent.
EXHIBIT C
FORM OF CLASS B CERTIFICATE
THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF PAYMENT TO
THE CLASS A CERTIFICATES, CLASS R CERTIFICATES AND CLASS
M CERTIFICATES AS DESCRIBED IN THE AGREEMENT (AS DEFINED
HEREIN).
THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR THE
SECURITIES LAWS OF ANY STATE AND MAY NOT BE RESOLD OR
TRANSFERRED UNLESS IT IS REGISTERED PURSUANT TO SUCH ACT
AND LAWS OR IS SOLD OR TRANSFERRED IN TRANSACTIONS WHICH
ARE EXEMPT FROM REGISTRATION UNDER SUCH ACT AND UNDER
APPLICABLE STATE LAW AND IS TRANSFERRED IN ACCORDANCE
WITH THE PROVISIONS OF SECTION 5.02 OF THE AGREEMENT.
NO TRANSFER OF THIS CERTIFICATE MAY BE MADE TO AN
EMPLOYEE BENEFIT OR OTHER PLAN SUBJECT TO THE PROHIBITED
TRANSACTION PROVISIONS OF THE EMPLOYEE RETIREMENT INCOME
SECURITY ACT OF 1974, AS AMENDED, ("ERISA"), OR SECTION
4975 OF THE INTERNAL REVENUE CODE OF 1986 (THE "CODE"),
OR TO ANY PERSON WHO IS USING "PLAN ASSETS" OF ANY SUCH
PLAN TO ACQUIRE THIS CERTIFICATE, UNLESS THE TRANSFEREE
PROVIDES AN OPINION OF COUNSEL OR CERTIFICATION PURSUANT
TO SECTION 5.02(f) OF THE AGREEMENT SATISFACTORY TO THE
MASTER SERVICER, THE COMPANY AND THE TRUSTEE THAT THE
PURCHASE OF THIS CERTIFICATE BY, ON BEHALF OF, OR WITH
"PLAN ASSETS" OF SUCH PLAN IS PERMISSIBLE UNDER
APPLICABLE LAW, WILL NOT CONSTITUTE OR RESULT IN A NON-
EXEMPT PROHIBITED TRANSACTION 406 OF ERISA OR SECTION
4975 OF THE CODE AND WILL NOT SUBJECT THE MASTER
SERVICER, THE COMPANY OR THE TRUSTEE TO ANY OBLIGATION OR
LIABILITY IN ADDITION TO THOSE UNDERTAKEN IN THE
AGREEMENT.
SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS
CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT," AS THOSE TERMS ARE DEFINED,
RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE CODE. THE
FOLLOWING INFORMATION IS PROVIDED SOLELY FOR THE PURPOSES
OF APPLYING THE U.S. FEDERAL INCOME TAX ORIGINAL ISSUE
DISCOUNT ("OID") RULES TO THIS CERTIFICATE. THE ISSUE
DATE OF THIS CERTIFICATE IS DECEMBER 13, 1995. BASED ON
PROPOSED OID REGULATIONS PUBLISHED IN THE FEDERAL
REGISTER ON DECEMBER 22, 1992 AND ASSUMING THAT THE
MORTGAGE LOANS PREPAY AT 265% OF THE STANDARD PREPAYMENT
ASSUMPTION (AS DESCRIBED IN THE PROSPECTUS SUPPLEMENT),
THIS CERTIFICATE HAS BEEN ISSUED WITH NO MORE THAN $___
OF OID PER $1,000 OF INITIAL CERTIFICATE PRINCIPAL
BALANCE, THE YIELD TO MATURITY IS ____% AND THE AMOUNT OF
OID ATTRIBUTABLE TO THE INITIAL ACCRUAL PERIOD IS NO MORE
THAN $____ PER $1,000 OF INITIAL CERTIFICATE PRINCIPAL
BALANCE, COMPUTED UNDER THE APPROXIMATE METHOD. NO
REPRESENTATION IS MADE THAT THE MORTGAGE LOANS WILL
PREPAY AT A RATE BASED ON THE STANDARD PREPAYMENT
ASSUMPTION OR AT ANY OTHER RATE.
Certificate No. __ _____ % Pass-Through Rate
Class B-__ Subordinate Aggregate Certificate
Principal Balance
of the Class B-__
Certificates as of
Date of Pooling and Servicing the Cut-off Date:
Agreement and Cut-off Date: $_______________
December 1, 1995
Initial Certificate Principal
Balance of this Certificate:
First Distribution Date: $_______________
January 25, 1996
Master Servicer:
Norwest Mortgage, Inc.
Assumed Final Distribution Date:
December 25, 2025
MORTGAGE PASS-THROUGH CERTIFICATE,
SERIES 1995-R20
evidencing a percentage interest in any
distributions allocable to the Class B-__
Certificates with respect to the Trust Fund
consisting primarily of a pool of conventional
one- to four-family fixed interest rate first
mortgage loans formed and sold by RESIDENTIAL
FUNDING MORTGAGE SECURITIES I, INC.
This Certificate is payable solely from the
assets of the Trust Fund, and does not represent an
obligation of or interest in Residential Funding Mortgage
Securities I, Inc., the Master Servicer, the Trustee
referred to below or GMAC Mortgage Corporation or any of
their affiliates. Neither this Certificate nor the
underlying Mortgage Loans are guaranteed or insured by
any governmental agency or instrumentality or by
Residential Funding Mortgage Securities I, Inc., the
Master Servicer, the Trustee or GMAC Mortgage Corporation
or any of their affiliates. None of the Company, the
Master Servicer, GMAC Mortgage Corporation or any of
their affiliates will have any obligation with respect to
any certificate or other obligation secured by or payable
from payments on the Certificates.
This certifies that
__________________________________ is the registered
owner of the Percentage Interest evidenced by this
Certificate (obtained by dividing the Certificate
Principal Balance of this Certificate by the aggregate
Certificate Principal Balance of all Class B-__
Certificates, both as specified above) in certain
distributions with respect to a Trust Fund consisting
primarily of a pool of conventional one- to four-family
fixed interest rate first mortgage loans (the "Mortgage
Loans"), formed and sold by Residential Funding Mortgage
Securities I, Inc. (hereinafter called the "Company,"
which term includes any successor entity under the
Agreement referred to below). The Trust Fund was created
pursuant to a Pooling and Servicing Agreement dated as
specified above (the "Agreement") among the Company, the
Master Servicer and Bankers Trust Company, as trustee
(the "Trustee"), a summary of certain of the pertinent
provisions of which is set forth hereafter. To the
extent not defined herein, the capitalized terms used
herein have the meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the
acceptance hereof assents and by which such Holder is
bound.
Pursuant to the terms of the Agreement, a
distribution will be made on the 25th day of each month
or, if such 25th day is not a Business Day, the Business
Day immediately following (the "Distribution Date"),
commencing on the first Distribution Date specified
above, to the Person in whose name this Certificate is
registered at the close of business on the last day (or
if such last day is not a Business Day, the Business Day
immediately preceding such last day) of the month next
preceding the month of such distribution (the "Record
Date"), from the Available Distribution Amount in an
amount equal to the product of the Percentage Interest
evidenced by this Certificate and the amount (of interest
and principal, if any) required to be distributed to
Holders of Class B Certificates on such Distribution
Date.
Distributions on this Certificate will be made
either by the Master Servicer acting on behalf of the
Trustee or by a Paying Agent appointed by the Trustee in
immediately available funds (by wire transfer or
otherwise) for the account of the Person entitled thereto
if such Person shall have so notified the Master Servicer
or such Paying Agent, or by check mailed to the address
of the Person entitled thereto, as such name and address
shall appear on the Certificate Register.
Notwithstanding the above, the final
distribution on this Certificate will be made after due
notice of the pendency of such distribution and only upon
presentation and surrender of this Certificate at the
office or agency appointed by the Trustee for that
purpose in the City and State of New York. The Initial
Certificate Principal Balance of this Certificate is set
forth above. The Certificate Principal Balance hereof
will be reduced to the extent of the distributions
allocable to principal and any Realized Losses allocable
hereto.
No transfer of this Class B Certificate will be
made unless such transfer is exempt from the registration
requirements of the Securities Act of 1933, as amended,
and any applicable state securities laws or is made in
accordance with said Act and laws. In the event that
such a transfer is to be made, (i) the Trustee or the
Company may require an opinion of counsel acceptable to
and in form and substance satisfactory to the Trustee and
the Company that such transfer is exempt (describing the
applicable exemption and the basis therefor) from or is
being made pursuant to the registration requirements of
the Securities Act of 1933, as amended, and of any
applicable statute of any state and (ii) the transferee
shall execute an investment letter in the form described
by the Agreement. The Holder hereof desiring to effect
such transfer shall, and does hereby agree to, indemnify
the Trustee, the Company, the Master Servicer and the
Certificate Registrar acting on behalf of the Trustee
against any liability that may result if the transfer is
not so exempt or is not made in accordance with such
Federal and state laws. In connection with any such
transfer, the Trustee will also require (i) a
representation letter, in the form as described by the
Agreement, stating that the transferee is not an employee
benefit or other plan subject to the prohibited
transaction provisions of the Employee Retirement Income
Security Act of 1974, as amended ("ERISA") or Section
4975 of the Internal Revenue Code (the "Code"), an
investment manager, a named fiduciary or any other person
using "plan assets" of any such plan to effect such
acquisition (a "Plan Investor") or (ii) if such
transferee is a Plan Investor, an opinion of counsel
acceptable to and in form and substance satisfactory to
the Trustee, the Company and the Master Servicer with
respect to the permissibility of such transfer under
ERISA and Section 4975 of the Code and stating, among
other things, that the transferee's acquisition of a
Class B Certificate will not constitute or result in a
non-exempt prohibited transaction under Section 406 of
ERISA or Section 4975 of the Code.
This Certificate is one of a duly authorized
issue of Certificates issued in several Classes
designated as Mortgage Pass-Through Certificates of the
Series specified hereon (herein collectively called the
"Certificates").
The Certificates are limited in right of
payment to certain collections and recoveries respecting
the Mortgage Loans, all as more specifically set forth
herein and in the Agreement. In the event Master
Servicer funds are advanced with respect to any Mortgage
Loan, such advance is reimbursable to the Master
Servicer, to the extent provided in the Agreement, from
related recoveries on such Mortgage Loan or from other
cash that would have been distributable to
Certificateholders.
As provided in the Agreement, withdrawals from
the Custodial Account and/or the Certificate Account
created for the benefit of Certificateholders may be made
by the Master Servicer from time to time for purposes
other than distributions to Certificateholders, such
purposes including without limitation reimbursement to
the Company and the Master Servicer of advances made, or
certain expenses incurred, by either of them.
The Agreement permits, with certain exceptions
therein provided, the amendment of the Agreement and the
modification of the rights and obligations of the
Company, the Master Servicer and the Trustee and the
rights of the Certificateholders under the Agreement at
any time by the Company, the Master Servicer and the
Trustee with the consent of the Holders of Certificates
evidencing in the aggregate not less than 66% of the
Percentage Interests of each Class of Certificates
affected thereby. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such
Holder and upon all future holders of this Certificate
and of any Certificate issued upon the transfer hereof or
in exchange herefor or in lieu hereof whether or not
notation of such consent is made upon the Certificate.
The Agreement also permits the amendment thereof in
certain circumstances without the consent of the Holders
of any of the Certificates and, in certain additional
circumstances, without the consent of the Holders of
certain Classes of Certificates.
As provided in the Agreement and subject to
certain limitations therein set forth, the transfer of
this Certificate is registrable in the Certificate
Register upon surrender of this Certificate for
registration of transfer at the offices or agencies
appointed by the Trustee in the City and State of New
York, duly endorsed by, or accompanied by an assignment
in the form below or other written instrument of transfer
in form satisfactory to the Trustee and the Certificate
Registrar duly executed by the Holder hereof or such
Holder's attorney duly authorized in writing, and
thereupon one or more new Certificates of authorized
denominations evidencing the same Class and aggregate
Percentage Interest will be issued to the designated
transferee or transferees.
The Certificates are issuable only as
registered Certificates without coupons in Classes and in
denominations specified in the Agreement. As provided in
the Agreement and subject to certain limitations therein
set forth, Certificates are exchangeable for new
Certificates of authorized denominations evidencing the
same Class and aggregate Percentage Interest, as
requested by the Holder surrendering the same.
No service charge will be made for any such
registration of transfer or exchange, but the Trustee may
require payment of a sum sufficient to cover any tax or
other governmental charge payable in connection
therewith.
The Company, the Master Servicer, the Trustee
and the Certificate Registrar and any agent of the
Company, the Master Servicer, the Trustee or the
Certificate Registrar may treat the Person in whose name
this Certificate is registered as the owner hereof for
all purposes, and neither the Company, the Master
Servicer, the Trustee nor any such agent shall be
affected by notice to the contrary.
This Certificate shall be governed by and
construed in accordance with the laws of the State of New
York.
The obligations created by the Agreement in
respect of the Certificates and the Trust Fund created
thereby shall terminate upon the payment to
Certificateholders of all amounts held by or on behalf of
the Trustee and required to be paid to them pursuant to
the Agreement following the earlier of (i) the maturity
or other liquidation of the last Mortgage Loan subject
thereto or the disposition of all property acquired upon
foreclosure or deed in lieu of foreclosure of any
Mortgage Loan and (ii) the purchase by the Master
Servicer or the Company from the Trust Fund of all
remaining Mortgage Loans and all property acquired in
respect of such Mortgage Loans, thereby effecting early
retirement of the Certificates. The Agreement permits,
but does not require, the Master Servicer or the Company
to (i) purchase at a price determined as provided in the
Agreement all remaining Mortgage Loans and all property
acquired in respect of any Mortgage Loan or (ii) purchase
in whole, but not in part, all of the Certificates from
the Holders thereof; provided, that any such option may
only be exercised if the Pool Stated Principal Balance of
the Mortgage Loans as of the Distribution Date upon which
the proceeds of any such purchase are distributed is less
than ten percent of the Cut-off Date Principal Balance of
the Mortgage Loans.
Unless the certificate of authentication hereon
has been executed by the Certificate Registrar, by manual
signature, this Certificate shall not be entitled to any
benefit under the Agreement or be valid for any purpose.
IN WITNESS WHEREOF, the Trustee has caused this
Certificate to be duly executed.
Dated: The First National Bank of
Chicago, as Trustee
By:
Authorized Signatory
CERTIFICATE OF AUTHENTICATION
This is one of the Class M-__ Certificates
referred to in the within-mentioned Agreement.
The First National Bank
of Chicago, as
Certificate Registrar
By:
Authorized Signatory
ASSIGNMENT
FOR VALUE RECEIVED, the undersigned hereby
sell(s), assign(s) and transfer(s) unto
(Please print or typewrite name and address including
postal zip code of assignee) a Percentage Interest
evidenced by the within Mortgage Pass-Through Certificate
and hereby authorizes the transfer of registration of
such interest to assignee on the Certificate Register of
the Trust Fund.
I (We) further direct the Certificate Registrar
to issue a new Certificate of a like denomination and
Class, to the above named assignee and deliver such
Certificate to the following address:
Dated:
Signature by or on behalf of
assignor
Signature Guaranteed
DISTRIBUTION INSTRUCTIONS
The assignee should include the following for
purposes of distribution:
Distributions shall be made, by wire transfer
or otherwise, in immediately available funds to
for the account of
account number , or,
if mailed by check, to
Applicable statements
should be mailed to
.
This information is provided by
, the assignee named above, or
, as its agent.
EXHIBIT D
FORM OF CLASS R CERTIFICATE
THIS CERTIFICATE MAY NOT BE HELD BY OR TRANSFERRED TO A
NON-UNITED STATES PERSON OR A DISQUALIFIED ORGANIZATION
(AS DEFINED BELOW).
SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS
CERTIFICATE IS A "RESIDUAL INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" AS THOSE TERMS ARE DEFINED,
RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986 (THE "CODE").
NO TRANSFER OF THIS CERTIFICATE MAY BE MADE TO AN
EMPLOYEE BENEFIT PLAN SUBJECT TO THE PROHIBITED
TRANSACTION PROVISIONS OF THE EMPLOYEE RETIREMENT INCOME
SECURITY ACT OF 1974, AS AMENDED, ("ERISA"), OR SECTION
4975 OF THE CODE, OR TO ANY PERSON WHO IS USING "PLAN
ASSETS" OF ANY SUCH PLAN TO ACQUIRE THIS CERTIFICATE,
UNLESS THE TRANSFEREE PROVIDES AN OPINION OF COUNSEL
SATISFACTORY TO THE MASTER SERVICER, THE COMPANY AND THE
TRUSTEE THAT THE PURCHASE OF THIS CERTIFICATE BY, ON
BEHALF OF, OR WITH "PLAN ASSETS" OF SUCH PLAN IS
PERMISSIBLE UNDER APPLICABLE LAW, WILL NOT CONSTITUTE OR
RESULT IN A NON-EXEMPT PROHIBITED TRANSACTION 406 OF
ERISA OR SECTION 4975 OF THE CODE AND WILL NOT SUBJECT
THE MASTER SERVICER, THE COMPANY OR THE TRUSTEE TO ANY
OBLIGATION OR LIABILITY IN ADDITION TO THOSE UNDERTAKEN
IN THE AGREEMENT.
ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS
CERTIFICATE MAY BE MADE ONLY IF THE PROPOSED TRANSFEREE
PROVIDES A TRANSFER AFFIDAVIT TO THE MASTER SERVICER AND
THE TRUSTEE THAT (1) SUCH TRANSFEREE IS NOT (A) THE
UNITED STATES, ANY STATE OR POLITICAL SUBDIVISION
THEREOF, ANY FOREIGN GOVERNMENT, ANY INTERNATIONAL
ORGANIZATION, OR ANY AGENCY OR INSTRUMENTALITY OF ANY OF
THE FOREGOING, (B) ANY ORGANIZATION (OTHER THAN A
COOPERATIVE DESCRIBED IN SECTION 521 OF THE CODE) WHICH
IS EXEMPT FROM THE TAX IMPOSED BY CHAPTER 1 OF THE CODE
UNLESS SUCH ORGANIZATION IS SUBJECT TO THE TAX IMPOSED BY
SECTION 511 OF THE CODE, (C) ANY ORGANIZATION DESCRIBED
IN SECTION 1381(a)(2)(C) OF THE CODE, (ANY SUCH PERSON
DESCRIBED IN THE FOREGOING CLAUSES (A), (B) OR (C) BEING
HEREIN REFERRED TO AS A "DISQUALIFIED ORGANIZATION") OR
(D) AN AGENT OF A DISQUALIFIED ORGANIZATION, (2) NO
PURPOSE OF SUCH TRANSFER IS TO IMPEDE THE ASSESSMENT OR
COLLECTION OF TAX AND (3) SUCH TRANSFEREE SATISFIES
CERTAIN ADDITIONAL CONDITIONS RELATING TO THE FINANCIAL
CONDITION OF THE PROPOSED TRANSFEREE. NOTWITHSTANDING
THE REGISTRATION IN THE CERTIFICATE REGISTER OR ANY
TRANSFER, SALE OR OTHER DISPOSITION OF THIS CERTIFICATE
TO A DISQUALIFIED ORGANIZATION OR AN AGENT OF A
DISQUALIFIED ORGANIZATION, SUCH REGISTRATION SHALL BE
DEEMED TO BE OF NO LEGAL FORCE OR EFFECT WHATSOEVER AND
SUCH PERSON SHALL NOT BE DEEMED TO BE A CERTIFICATEHOLDER
FOR ANY PURPOSE HEREUNDER, INCLUDING, BUT NOT LIMITED TO,
THE RECEIPT OF DISTRIBUTIONS ON THIS CERTIFICATE. EACH
HOLDER OF THIS CERTIFICATE BY ACCEPTANCE OF THIS
CERTIFICATE SHALL BE DEEMED TO HAVE CONSENTED TO THE
PROVISIONS OF THIS PARAGRAPH.
Certificate No. ___ _____% Pass-Through Rate
Class R Senior Aggregate Initial Certificate
Principal Balance of the Class
R
Certificates:
Date of Pooling and Servicing $100.00
Agreement and Cut-off Date:
December 1, 1995 Initial Certificate Principal
Balance of this Certificate:
First Distribution Date: $_______________
January 25, 1996
Percentage Interest:
Master Servicer: _______%
Norwest Mortgage, Inc.
CUSIP _____-_____
Assumed Final Distribution Date:
December 25, 2025
MORTGAGE PASS-THROUGH CERTIFICATE,
SERIES 1995-R20
evidencing a percentage interest in any
distributions allocable to the Class R
Certificates with respect to the Trust Fund
consisting primarily of a pool of conventional
one- to four-family fixed interest rate first
mortgage loans formed and sold by RESIDENTIAL
FUNDING MORTGAGE SECURITIES I, INC.
This Certificate is payable solely from the
assets of the Trust Fund, and does not represent an
obligation of or interest in Residential Funding Mortgage
Securities I, Inc., the Master Servicer, the Trustee
referred to below or GMAC Mortgage Corporation or any of
their affiliates. Neither this Certificate nor the
underlying Mortgage Loans are guaranteed or insured by
any governmental agency or instrumentality or by
Residential Funding Mortgage Securities I, Inc., the
Master Servicer, the Trustee or GMAC Mortgage Corporation
or any of their affiliates. None of the Company, the
Master Servicer, GMAC Mortgage Corporation or any of
their affiliates will have any obligation with respect to
any certificate or other obligation secured by or payable
from payments on the Certificates.
This certifies that _________________________
is the registered owner of the Percentage Interest
evidenced by this Certificate (obtained by dividing the
Initial Certificate Principal Balance of this Certificate
by the aggregate Initial Certificate Principal Balance of
all Class R Certificates, both as specified above) in
certain distributions with respect to the Trust Fund
consisting primarily of a pool of conventional one- to
four-family fixed interest rate first mortgage loans (the
"Mortgage Loans"), formed and sold by Residential Funding
Mortgage Securities I, Inc. (hereinafter called the
"Company," which term includes any successor entity under
the Agreement referred to below). The Trust Fund was
created pursuant to a Pooling and Servicing Agreement
dated as specified above (the "Agreement") among the
Company, the Master Servicer and Bankers Trust Company,
as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereafter. To
the extent not defined herein, the capitalized terms used
herein have the meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the
acceptance hereof assents and by which such Holder is
bound.
Pursuant to the terms of the Agreement, a
distribution will be made on the 25th day of each month
or, if such 25th day is not a Business Day, the Business
Day immediately following (the "Distribution Date"),
commencing as described in the Agreement, to the Person
in whose name this Certificate is registered at the close
of business on the last day (or if such last day is not
a Business Day, the Business Day immediately preceding
such last day) of the month immediately preceding the
month of such distribution (the "Record Date"), from the
Available Distribution Amount in an amount equal to the
product of the Percentage Interest evidenced by this
Certificate and the amount (of interest and principal, if
any) required to be distributed to Holders of Class R
Certificates on such Distribution Date.
Each Holder of this Certificate will be deemed
to have agreed to be bound by the restrictions set forth
in the Agreement to the effect that (i) each person
holding or acquiring any Ownership Interest in this
Certificate must be a United States Person and a
Permitted Transferee, (ii) the transfer of any Ownership
Interest in this Certificate will be conditioned upon the
delivery to the Trustee of, among other things, an
affidavit to the effect that it is a United States Person
and Permitted Transferee, (iii) any attempted or
purported transfer of any Ownership Interest in this
Certificate in violation of such restrictions will be
absolutely null and void and will vest no rights in the
purported transferee, and (iv) if any person other than
a United States Person and a Permitted Transferee
acquires any Ownership Interest in this Certificate in
violation of such restrictions, then the Company will
have the right, in its sole discretion and without notice
to the Holder of this Certificate, to sell this
Certificate to a purchaser selected by the Company, which
purchaser may be the Company, or any affiliate of the
Company, on such terms and conditions as the Company may
choose.
Notwithstanding the above, the final
distribution on this Certificate will be made after due
notice of the pendency of such distribution and only upon
presentation and surrender of this Certificate at the
office or agency appointed by the Trustee for that
purpose in the City and State of New York. The Initial
Certificate Principal Balance of this Certificate is set
forth above. The Certificate Principal Balance hereof
will be reduced to the extent of distributions allocable
to principal and any Realized Losses allocable hereto.
Notwithstanding the reduction of the Certificate
Principal Balance hereof to zero, this Certificate will
remain outstanding under the Agreement and the Holder
hereof may have additional obligations with respect to
this Certificate, including tax liabilities, and may be
entitled to certain additional distributions hereon, in
accordance with the terms and provisions of the
Agreement.
This Certificate is one of a duly authorized
issue of Certificates issued in several Classes
designated as Mortgage Pass-Through Certificates of the
Series specified hereon (herein collectively called the
"Certificates").
The Certificates are limited in right of
payment to certain collections and recoveries respecting
the Mortgage Loans, all as more specifically set forth
herein and in the Agreement. In the event Master
Servicer funds are advanced with respect to any Mortgage
Loan, such advance is reimbursable to the Master
Servicer, to the extent provided in the Agreement, from
related recoveries on such Mortgage Loan or from other
cash that would have been distributable to
Certificateholders.
As provided in the Agreement, withdrawals from
the Custodial Account and/or the Certificate Account
created for the benefit of Certificateholders may be made
by the Master Servicer from time to time for purposes
other than distributions to Certificateholders, such
purposes including without limitation reimbursement to
the Company and the Master Servicer of advances made, or
certain expenses incurred, by either of them.
The Agreement permits, with certain exceptions
therein provided, the amendment of the Agreement and the
modification of the rights and obligations of the
Company, the Master Servicer and the Trustee and the
rights of the Certificateholders under the Agreement at
any time by the Company, the Master Servicer and the
Trustee with the consent of the Holders of Certificates
evidencing in the aggregate not less than 66% of the
Percentage Interests of each Class of Certificates
affected thereby. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such
Holder and upon all future holders of this Certificate
and of any Certificate issued upon the transfer hereof or
in exchange herefor or in lieu hereof whether or not
notation of such consent is made upon the Certificate.
The Agreement also permits the amendment thereof in
certain circumstances without the consent of the Holders
of any of the Certificates and, in certain additional
circumstances, without the consent of the Holders of
certain Classes of Certificates.
As provided in the Agreement and subject to
certain limitations therein set forth, the transfer of
this Certificate is registrable in the Certificate
Register upon surrender of this Certificate for
registration of transfer at the offices or agencies
appointed by the Trustee in the City and State of New
York, duly endorsed by, or accompanied by an assignment
in the form below or other written instrument of transfer
in form satisfactory to the Trustee and the Certificate
Registrar duly executed by the Holder hereof or such
Holder's attorney duly authorized in writing, and
thereupon one or more new Certificates of authorized
denominations evidencing the same Class and aggregate
Percentage Interest will be issued to the designated
transferee or transferees.
The Certificates are issuable only as
registered Certificates without coupons in Classes and in
denominations specified in the Agreement. As provided in
the Agreement and subject to certain limitations therein
set forth, Certificates are exchangeable for new
Certificates of authorized denominations evidencing the
same Class and aggregate Percentage Interest, as
requested by the Holder surrendering the same.
No service charge will be made for any such
registration of transfer or exchange, but the Trustee may
require payment of a sum sufficient to cover any tax or
other governmental charge payable in connection
therewith.
The Company, the Master Servicer, the Trustee
and the Certificate Registrar and any agent of the
Company, the Master Servicer, the Trustee or the
Certificate Registrar may treat the Person in whose name
this Certificate is registered as the owner hereof for
all purposes, and neither the Company, the Master
Servicer, the Trustee nor any such agent shall be
affected by notice to the contrary.
This Certificate shall be governed by and
construed in accordance with the laws of the State of New
York.
The obligations created by the Agreement in
respect of the Certificates and the Trust Fund created
thereby shall terminate upon the payment to
Certificateholders of all amounts held by or on behalf of
the Trustee and required to be paid to them pursuant to
the Agreement following the earlier of (i) the maturity
or other liquidation of the last Mortgage Loan subject
thereto or the disposition of all property acquired upon
foreclosure or deed in lieu of foreclosure of any
Mortgage Loan and (ii) the purchase by the Master
Servicer or the Company from the Trust Fund of all
remaining Mortgage Loans and all property acquired in
respect of such Mortgage Loans, thereby effecting early
retirement of the Certificates. The Agreement permits,
but does not require, the Master Servicer or the Company
to (i) purchase at a price determined as provided in the
Agreement all remaining Mortgage Loans and all property
acquired in respect of any Mortgage Loan or (ii) purchase
in whole, but not in part, all of the Certificates from
the Holders thereof; provided, that any such option may
only be exercised if the Pool Stated Principal Balance of
the Mortgage Loans as of the Distribution Date upon which
the proceeds of any such purchase are distributed is less
than ten percent of the Cut-off Date Principal Balance of
the Mortgage Loans.
Reference is hereby made to the further
provisions of this Certificate set forth on the reverse
hereof, which further provisions shall for all purpose
have the same effect as if set forth at this place.
Unless the certificate of authentication hereon
has been executed by the Certificate Registrar, by manual
signature, this Certificate shall not be entitled to any
benefit under the Agreement or be valid for any purpose.
IN WITNESS WHEREOF, the Trustee has caused this
Certificate to be duly executed.
Dated: The First National Bank
of Chicago, as Trustee
By:
Authorized Signatory
CERTIFICATE OF AUTHENTICATION
This is one of the Class R Certificates
referred to in the within-mentioned Agreement.
The First National Bank
of Chicago, as
Certificate Registrar
By:
Authorized Signatory
ASSIGNMENT
FOR VALUE RECEIVED, the undersigned hereby
sell(s), assign(s) and transfer(s) unto
(Please print or typewrite name and address including
postal zip code of assignee) a Percentage Interest
evidenced by the within Mortgage Pass-Through Certificate
and hereby authorizes the transfer of registration of
such interest to assignee on the Certificate Register of
the Trust Fund.
I (We) further direct the Certificate Registrar
to issue a new Certificate of a like denomination and
Class, to the above named assignee and deliver such
Certificate to the following address:
Dated:
Signature by or on behalf of
assignor
Signature Guaranteed
DISTRIBUTION INSTRUCTIONS
The assignee should include the following for
purposes of distribution:
Distributions shall be made, by wire transfer
or otherwise, in immediately available funds to
for the account of
account number , or,
if mailed by check, to
Applicable statements
should be mailed to
.
This information is provided by
, the assignee named above, or
, as its agent.
EXHIBIT E
CUSTODIAL AGREEMENT
THIS CUSTODIAL AGREEMENT (as amended and
supplemented from time to time, the "Agreement"), dated
as of December 1, 1995, by and among The First National
bank of Chicago, as Trustee (including its successors
under the Pooling Agreement defined below, the
"Trustee"), RESIDENTIAL FUNDING MORTGAGE SECURITIES I,
INC. (together with any successor in interest, the
"Company"), RESIDENTIAL FUNDING CORPORATION, as
administrator (the "Administrator"), NORWEST MORTGAGE,
INC., as master servicer (together with any successor in
interest or successor under the Pooling Agreement
referred to below, the "Master Servicer"), and NORWEST
BANK MINNESOTA, NATIONAL ASSOCIATION (together with any
successor in interest or any successor appointed
hereunder, the "Custodian").
W I T N E S S E T H T H A T :
WHEREAS, the Company, the Master Servicer, the
Administrator and the Trustee have entered into a Pooling
and Servicing Agreement dated as of December 1, 1995,
relating to the issuance of Residential Funding Mortgage
Securities I, Inc., Mortgage Pass-Through Certificates,
Series 1995-R20 (as in effect on the date of this
agreement, the "Original Pooling Agreement," and as
amended and supplemented from time to time, the "Pooling
Agreement"); and
WHEREAS, Norwest Mortgage, Inc., as seller
(together with any successor in interest or successor
under the Designated Seller's Agreement referred to
below, the "Seller"), has agreed to deliver the Mortgage
Files to the Custodian pursuant to a Designated Seller's
Agreement, dated December 13, 1995, among the Seller and
the Company (the "Designated Seller's Agreement"); and
WHEREAS, the Custodian has agreed to act as
agent for the Trustee for the purposes of receiving and
holding certain documents and other instruments delivered
by the Company and the Master Servicer under the Pooling
Agreement, all upon the terms and conditions and subject
to the limitations hereinafter set forth;
NOW, THEREFORE, in consideration of the
premises and the mutual covenants and agreements
hereinafter set forth, the Trustee, the Company, the
Master Servicer and the Custodian hereby agree as
follows:
ARTICLE I
Definitions
Capitalized terms used in this Agreement and
not defined herein shall have the meanings assigned in
the Original Pooling Agreement, unless otherwise required
by the context herein.
ARTICLE II
Custody of Mortgage Documents
Section 2.1. Custodian to Act as Agent;
Acceptance of Mortgage Files. The Custodian, as the duly
appointed agent of the Trustee for these purposes,
acknowledges receipt of the Mortgage Files relating to
the Mortgage Loans identified on the schedule attached
hereto (the "Mortgage Files") and declares that it holds
and will hold the Mortgage Files as agent for the
Trustee, in trust, for the use and benefit of all present
and future Certificateholders.
Section 2.2. Recordation of Assignments. If
any Mortgage File includes one or more assignments to the
Trustee of Mortgage Notes and related Mortgages that have
not been recorded, each such assignment shall be
delivered by the Custodian to the Seller for the purpose
of recording it in the appropriate public office for real
property records, and the Seller, at no expense to the
Custodian, shall promptly cause to be recorded in the
appropriate public office for real property records each
such assignment and, upon receipt thereof from such
public office, shall return each such assignment to the
Custodian.
Section 2.3. Review of Mortgage Files.
(a) On or prior to the Closing Date, the
Custodian shall deliver to the Trustee an Initial
Certification in the form annexed hereto as Exhibit One
evidencing receipt of a Mortgage File for each Mortgage
Loan listed on the Schedule attached hereto (the
"Mortgage Loan Schedule").
(b) Within 45 days of the initial issuance of
the Certificates, the Custodian agrees, for the benefit
of Certificateholders, to review, in accordance with the
provisions of Section 2.02 of the Pooling Agreement, each
Mortgage File, and shall deliver to the Trustee an
Interim Certification in the form annexed hereto as
Exhibit Two to the effect that all documents required to
be delivered pursuant to Section 2.01(b) of the Pooling
Agreement have been executed and received and that such
documents relate to the Mortgage Loans identified on the
Mortgage Loan Schedule, except for any exceptions listed
on Schedule A attached to such Interim Certification.
Within 45 days of receipt of the documents required to be
delivered pursuant to Section 2.01(c) of the Pooling
Agreement, the Custodian agrees, for the benefit of
Certificateholders, to review, in accordance with the
provisions of Section 2.02 of the Pooling Agreement, each
such document, and shall deliver to the Trustee either
(i) an Interim Certification in the form attached hereto
as Exhibit Two to the effect that all such documents
relate to the Mortgage Loans identified on the Mortgage
Loan Schedule, except for any exceptions listed on
Schedule A attached to such Interim Certification or (ii)
a Final Certification as set forth in subsection (c)
below. The Custodian shall be under no duty or
obligation to inspect, review or examine said documents,
instruments, certificates or other papers to determine
that the same are genuine, enforceable, or appropriate
for the represented purpose or that they have actually
been recorded or that they are other than what they
purport to be on their face. If in performing the review
required by this Section 2.3 the Custodian finds any
document or documents constituting a part of a Mortgage
File to be defective in any material respect, the
Custodian shall promptly so notify the Company, the
Master Servicer and the Trustee. Upon receipt of written
notification from the Master Servicer, signed by a
Servicing Officer, that the Master Servicer or a
Subservicer, as the case may be, has made a deposit into
the Certificate Account in payment for the purchase of
the related Mortgage Loan in an amount equal to the
Purchase Price for such Mortgage Loan, the Custodian
shall release to the Master Servicer the related Mortgage
File.
(c) Upon receipt of all documents required to
be in the Mortgage Files the Custodian shall deliver to
the Trustee a Final Certification in the form annexed
hereto as Exhibit Three evidencing the completeness of
the Mortgage Files.
Upon receipt of written request from the
Trustee, the Custodian shall as soon as practicable
supply the Trustee with a list of all of the documents
relating to the Mortgage Loans then contained in the
Mortgage Files.
Section 2.4. Notification of Breaches of
Representations and Warranties. Upon discovery by the
Custodian of a breach of any representation or warranty
made by the Master Servicer or the Company as set forth
in the Pooling Agreement or by Norwest Mortgage, Inc. in
the Designated Seller's Agreement with respect to a
Mortgage Loan relating to a Mortgage File, the Custodian
shall give prompt written notice to the Company, the
Master Servicer and the Trustee.
Section 2.5. Custodian to Cooperate; Release
of Mortgage Files. Upon the repurchase or substitution
of any Mortgage Loan pursuant to Article II of the
Pooling Agreement or payment in full of any Mortgage
Loan, or the receipt by the Master Servicer of a
notification that payment in full will be escrowed in a
manner customary for such purposes, the Master Servicer
shall immediately notify the Custodian by a certification
(which certification shall include a statement to the
effect that all amounts received or to be received in
connection with such payment which are required to be
deposited in the Custodial Account pursuant to Section
3.07 of the Pooling Agreement have been or will be so
deposited) of a Servicing Officer and shall request
delivery to it of the Mortgage File. The Custodian
agrees, upon receipt of such certification and request,
promptly to release to the Master Servicer the related
Mortgage File. The Master Servicer shall deliver to the
Custodian and the Custodian agrees to accept the Mortgage
Note and other documents constituting the Mortgage File
with respect to any Qualified Substitute Mortgage Loan.
From time to time as is appropriate for the
servicing or foreclosures of any Mortgage Loan,
including, for this purpose, collection under any Primary
Insurance Policy or any Mortgage Pool Insurance Policy,
the Master Servicer shall deliver to the Custodian a
certificate of a Servicing Officer requesting that
possession of all, or any document constituting part, of
the Mortgage File be released to the Master Servicer and
certifying as to the reason for such release and that
such release will not invalidate any insurance coverage
provided in respect of the Mortgage Loan under any of the
Required Insurance Policies. With such certificate, the
Master Servicer shall deliver to the Custodian a trust
receipt signed by a Servicing Officer on behalf of the
Master Servicer, and upon receipt of the foregoing, the
Custodian shall deliver the Mortgage File or such
document to the Master Servicer. The Master Servicer
shall cause each Mortgage File or any document therein so
released to be returned to the Custodian when the need
therefor by the Master Servicer no longer exists, unless
(i) the Mortgage Loan has been liquidated and the
Liquidation Proceeds relating to the Mortgage Loan have
been deposited in the Custodial Account or (ii) the
Mortgage File or such document has been delivered to an
attorney, or to a public trustee or other public official
as required by law, for purposes of initiating or
pursuing legal action or other proceedings for the
foreclosure of the Mortgaged Property either judicially
or non-judicially, and the Master Servicer has delivered
to the Custodian a certificate of a Servicing Officer
certifying as to the name and address of the Person to
which such Mortgage File or such document was delivered
and the purpose or purposes of such delivery. In the
event of the liquidation of a Mortgage Loan, the
Custodian shall deliver the Trust Receipt with respect
thereto to the Master Servicer upon deposit of the
related Liquidation Proceeds in the Custodial Account as
provided in the Pooling Agreement.
Section 2.6. Assumption Agreements. In the
event that any assumption agreement or substitution of
liability agreement is entered into with respect to any
Mortgage Loan subject to this Agreement in accordance
with the terms and provisions of the Pooling Agreement,
the Master Servicer shall notify the Custodian that such
assumption or substitution agreement has been completed
by forwarding to the Custodian the original of such
assumption or substitution agreement, which shall be
added to the related Mortgage File and, for all purposes,
shall be considered a part of such Mortgage File to the
same extent as all other documents and instruments
constituting parts thereof.
ARTICLE III
Concerning the Custodian
Section 3.1. Custodian a Bailee and Agent of
the Trustee. With respect to each Mortgage Note,
Mortgage and other documents constituting each Mortgage
File which are delivered to the Custodian, the Custodian
is exclusively the bailee and agent of the Trustee and
has no instructions to hold any Mortgage Note or Mortgage
for the benefit of any person other than the Trustee,
holds such documents for the benefit of
Certificateholders and undertakes to perform such duties
and only such duties as are specifically set forth in
this Agreement. Except upon compliance with the
provisions of Section 2.5 of this Agreement, no Mortgage
Note, Mortgage or other document constituting a part of
a Mortgage File shall be delivered by the Custodian to
the Company or the Master Servicer or otherwise released
from the possession of the Custodian.
Section 3.2. Indemnification. The Master
Servicer hereby agrees to indemnify and hold the
Custodian harmless from and against all claims,
liabilities, losses, actions, suits or proceedings at law
or in equity, or any other expenses, fees or charges of
any character or nature, which the Custodian may incur or
with which the Custodian may be threatened by reason of
its acting as custodian under this Agreement, including
indemnification of the Custodian against any and all
expenses, including attorney's fees if counsel for the
Custodian has been approved by the Company, and the cost
of defending any action, suit or proceedings or resisting
any claim. Notwithstanding the foregoing, it is
specifically understood and agreed that in the event any
such claim, liability, loss, action, suit or proceeding
or other expense, fee or charge shall have been caused by
reason of any negligent act, negligent failure to act or
willful misconduct on the part of the Custodian, or which
shall constitute a willful breach of its duties
hereunder, the indemnification provisions of this
Agreement shall not apply.
Section 3.3. Custodian May Own Certificates.
The Custodian in its individual or any other capacity may
become the owner or pledgee of Certificates with the same
rights it would have if it were not Custodian.
Section 3.4. Master Servicer to Pay
Custodian's Fees and Expenses. The Master Servicer
covenants and agrees to pay to the Custodian from time to
time, and the Custodian shall be entitled to, reasonable
compensation for all services rendered by it in the
exercise and performance of any of the powers and duties
hereunder of the Custodian, and the Master Servicer will
pay or reimburse the Custodian upon its request for all
reasonable expenses, disbursements and advances incurred
or made by the Custodian in accordance with any of the
provisions of this Agreement (including the reasonable
compensation and the expenses and disbursements of its
counsel and of all persons not regularly in its employ),
except any such expense, disbursement or advance as may
arise from its negligence or bad faith.
Section 3.5. Custodian May Resign; Trustee May
Remove Custodian. The Custodian may resign from the
obligations and duties hereby imposed upon it as such
obligations and duties relate to its acting as Custodian
of the Mortgage Loans. Upon receiving such notice of
resignation, the Trustee shall either take custody of the
Mortgage Files itself and give prompt notice thereof to
the Company, the Master Servicer and the Custodian, or
promptly appoint a successor Custodian by written
instrument, in duplicate, one copy of which instrument
shall be delivered to the resigning Custodian and one
copy to the successor Custodian. If the Trustee shall
not have taken custody of the Mortgage Files and no
successor Custodian shall have been so appointed and have
accepted appointment within 30 days after the giving of
such notice of resignation, the resigning Custodian may
petition any court of competent jurisdiction for the
appointment of a successor Custodian.
The Trustee may remove the Custodian at any
time. In such event, the Trustee shall appoint, or
petition a court of competent jurisdiction to appoint, a
successor Custodian hereunder. Any successor Custodian
shall be a depository institution subject to supervision
or examination by federal or state authority and shall be
able to satisfy the other requirements contained in
Section 3.7 and shall be unaffiliated with the Master
Servicer or the Company.
Any resignation or removal of the Custodian and
appointment of a successor Custodian pursuant to any of
the provisions of this Section 3.5 shall become effective
upon acceptance of appointment by the successor
Custodian. The Trustee shall give prompt notice to the
Company and the Master Servicer of the appointment of any
successor Custodian. No successor Custodian shall be
appointed by the Trustee without the prior approval of
the Company and the Master Servicer.
Section 3.6. Merger or Consolidation of
Custodian. Any Person into which the Custodian may be
merged or converted or with which it may be consolidated,
or any Person resulting from any merger, conversion or
consolidation to which the Custodian shall be a party, or
any Person succeeding to the business of the Custodian,
shall be the successor of the Custodian hereunder,
without the execution or filing of any paper or any
further act on the part of any of the parties hereto,
anything herein to the contrary notwithstanding.
Section 3.7. Representations of the Custodian.
The Custodian hereby represents that it is a depository
institution subject to supervision or examination by a
federal or state authority, has a combined capital and
surplus of at least $15,000,000 and is qualified to do
business in the jurisdictions in which it will hold any
Mortgage File.
ARTICLE IV
Miscellaneous Provisions
Section 4.1. Notices. All notices, requests,
consents and demands and other communications required
under this Agreement or pursuant to any other instrument
or document delivered hereunder shall be in writing and,
unless otherwise specifically provided, may be delivered
personally, by telegram or telex, or by registered or
certified mail, postage prepaid, return receipt
requested, at the addresses specified on the signature
page hereof (unless changed by the particular party whose
address is stated herein by similar notice in writing),
in which case the notice will be deemed delivered when
received.
Section 4.2. Amendments. No modification or
amendment of or supplement to this Agreement shall be
valid or effective unless the same is in writing and
signed by all parties hereto, and neither the Company,
the Master Servicer nor the Trustee shall enter into any
amendment hereof except as permitted by the Pooling
Agreement. The Trustee shall give prompt notice to the
Custodian of any amendment or supplement to the Pooling
Agreement and furnish the Custodian with written copies
thereof.
Section 4.3. Governing Law. This Agreement
shall be deemed a contract made under the laws of the
State of New York and shall be construed and enforced in
accordance with and governed by the laws of the State of
New York.
Section 4.4. Recordation of Agreement. To the
extent permitted by applicable law, this Agreement is
subject to recordation in all appropriate public offices
for real property records in all the counties or other
comparable jurisdictions in which any or all of the
properties subject to the Mortgages are situated, and in
any other appropriate public recording office or
elsewhere, such recordation to be effected by the Master
Servicer and at its expense on direction by the Trustee
(pursuant to the request of holders of Certificates
evidencing undivided interests in the aggregate of not
less than 25% of the Trust Fund), but only upon direction
accompanied by an Opinion of Counsel reasonably
satisfactory to the Master Servicer to the effect that
the failure to effect such recordation is likely to
materially and adversely affect the interests of the
Certificateholders.
For the purpose of facilitating the recordation
of this Agreement as herein provided and for other
purposes, this Agreement may be executed simultaneously
in any number of counterparts, each of which counterparts
shall be deemed to be an original, and such counterparts
shall constitute but one and the same instrument.
Section 4.5. Severability of Provisions. If
any one or more of the covenants, agreements, provisions
or terms of this Agreement shall be for any reason
whatsoever held invalid, then such covenants, agreements,
provisions or terms shall be deemed severable from the
remaining covenants, agreements, provisions or terms of
this Agreement and shall in no way affect the validity or
enforceability of the other provisions of this Agreement
or of the Certificates or the rights of the holders
thereof.
IN WITNESS WHEREOF, this Agreement is executed
as of the date first above written.
Address: FIRST NATIONAL BANK OF
CHICAGO
as Trustee
One First National Plaza
Mail Suite 0126
Chicago, Illinois 60670-0126
Attention: Residential Funding Corporation
Series 1995-R20
By:
Name:
Title: Vice President
Address: RESIDENTIAL FUNDING
MORTGAGE
SECURITIES I, INC.
8400 Normandale Lake Boulevard
Minneapolis, Minnesota 55437
By:
Name:Jill M. Johnson
Title: Vice President
Address: NORWEST MORTGAGE, INC.,
as
Master Servicer
405 Southwest 5th Street
Des Moines, Iowa 50328
By:
Name:
Title:
Address: NORWEST BANK MINNESOTA,
NATIONAL ASSOCIATION
401 Second Avenue South
Minneapolis, Minnesota 55479
By:
Name:
Title:
STATE OF ILLINOIS )
) ss.:
COUNTY OF COOK )
On the 13th day of December, 1995, before me,
a notary public in and for said State, personally
appeared _______________________, known to me to be a
______
_________ of The First National Bank of Chicago, the
national banking association that executed the within
instrument, and also known to me to be the person who
executed it on behalf of said association and
acknowledged to me that such national banking association
executed the within instrument.
IN WITNESS WHEREOF, I have hereunto set my hand
and affixed my official seal the day and year in this
certificate first above written.
Notary
Public
[SEAL]
STATE OF MINNESOTA )
) ss.:
COUNTY OF HENNEPIN )
On the 13th day of December, 1995, before me,
a notary public in and for said State, personally
appeared ____________ ____________ known to me to be a
Trust Officer of Norwest Bank Minnesota, National
Association, a national banking association that executed
the within instrument, and also known to me to be the
person who executed it on behalf of said national banking
association, and acknowledged to me that such national
banking association executed the within instrument.
IN WITNESS WHEREOF, I have hereunto set my hand
and affixed my official seal the day and year in this
certificate first above written.
Notary Public
[SEAL]
STATE OF MINNESOTA )
) ss.:
COUNTY OF HENNEPIN )
On the 13th day of December, 1995, before me,
a notary public in and for said State, personally
appeared Jill M. Johnson, known to me to be a Vice
President of Residential Funding Mortgage Securities I,
Inc., one of the corporations that executed the within
instrument, and also known to me to be the person who
executed it on behalf of said corporation, and
acknowledged to me that such corporation executed the
within instrument.
IN WITNESS WHEREOF, I have hereunto set my hand
and affixed my official seal the day and year in this
certificate first above written.
Notary Public
[Notarial Seal]
STATE OF IOWA )
) ss:
COUNTY OF )
On the 13th day of December, 1995, before me,
a notary public in and for said State, personally
appeared ___________________, known to me to be a
__________________ of Norwest Mortgage, Inc., one of the
corporations that executed the within instrument, and
also known to me to be the person who executed it on
behalf of said corporation, and acknowledged to me that
such corporation executed the within instrument.
IN WITNESS WHEREOF, I have hereunto set my hand
and affixed my official seal the day and year in this
certificate first above written.
Notary Public
[Notarial Seal]
EXHIBIT ONE
FORM OF CUSTODIAN
INITIAL CERTIFICATION
December 13, 1995
The First National Bank
of Chicago
One First National Plaza
Mail Suite 0126
Chicago, Illinois 60670-0126
Attention: Residential Funding Corporation Series 1995-
R20
Re: Custodial Agreement dated as of December
1, 1995, by and among The First National
Bank of Chicago, Residential Funding
Mortgage Securities I, Inc., Norwest
Mortgage, Inc. and Norwest Bank
Minnesota, National Association, Mortgage
Pass-Through Certificates, Series 1995-
R20
Ladies and Gentlemen:
In accordance with Section 2.3 of the above-
captioned Custodial Agreement, and subject to Section
2.02 of the Pooling Agreement, the undersigned, as
Custodian, hereby certifies that it has received a
Mortgage File (which contains an original Mortgage Note)
to the extent required in Section 2.01(b) of the Pooling
Agreement with respect to each Mortgage Loan listed in
the Mortgage Loan Schedule.
Capitalized words and phrases used herein shall
have the respective meanings assigned to them in the
above-captioned Custodial Agreement.
NORWEST BANK
MINNESOTA, NATIONAL
ASSOCIATION
By:
Name:
Title:
EXHIBIT TWO
FORM OF CUSTODIAN INTERIM CERTIFICATION
________________ ____, 1995
The First National Bank
of Chicago
One First National Plaza
Mail Suite 0126
Chicago, Illinois 60670-0126
Attention: Residential Funding Corporation Series 1995-
R20
Re: Custodial Agreement dated as of December
1, 1995, by and among The First National
Bank of Chicago, Residential Funding
Mortgage Securities I, Inc., Norwest
Mortgage, Inc. and Norwest Bank
Minnesota, National Association, Mortgage
Pass-Through Certificates, Series 1995-
R20
Ladies and Gentlemen:
In accordance with Section 2.3 of the above-
captioned Custodial Agreement, the undersigned, as
Custodian, hereby certifies that it has received a
Mortgage File to the extent required pursuant to Section
2.01(b) of the Pooling Agreement with respect to each
Mortgage Loan listed in the Mortgage Loan Schedule, and
it has reviewed the Mortgage File and the Mortgage Loan
Schedule and has determined that: all required documents
have been executed and received and that such documents
related to the Mortgage Loans identified on the Mortgage
Loan Schedule, with any exceptions listed on Schedule A
attached hereto.
Capitalized words and phrases used herein shall
have the respective meanings assigned to them in the
above-captioned Custodial Agreement.
NORWEST BANK
MINNESOTA, NATIONAL
ASSOCIATION
By:
Name:
Title:
EXHIBIT THREE
FORM OF CUSTODIAN FINAL CERTIFICATION
_____________ ___, 1995
The First National Bank
of Chicago
One First National Plaza
Mail Suite 0126
Chicago, Illinois 60670-0126
Attention: Residential Funding Corporation Series 1995-
R20
Re: Custodial Agreement dated as of December
1, 1995, by and among The First National
Bank of Chicago, Residential Funding
Mortgage Securities I, Inc., Norwest
Mortgage, Inc. and Norwest Bank
Minnesota, National Association, Mortgage
Pass-Through Certificates, Series 1995-
R20
Ladies and Gentlemen:
In accordance with Section 2.3 of the
above-captioned Custodial Agreement, the undersigned, as
Custodian, hereby certifies that it has received a
Mortgage File with respect to each Mortgage Loan listed
in the Mortgage Loan Schedule containing (I) with respect
to each such Mortgage Loan (other than a Cooperative
Loan):
(i) The original Mortgage Note, endorsed
without recourse to the order of the Trustee and
showing an unbroken chain of endorsements from the
originator thereof to the Person endorsing it to
the Trustee or an original lost note affidavit from
the related Seller or Residential Funding stating
that the original Mortgage Note was lost, misplaced
or destroyed, together with a copy of the related
Mortgage Note;
(ii) The original Mortgage with evidence of
recording indicated thereon or a copy of the
Mortgage certified by the public recording office
in which such mortgage has been recorded;
(iii) An original Assignment of the
Mortgage to the Trustee with evidence of recording
indicated thereon or a copy of such assignment
certified by the public recording office in which
such assignment has been recorded;
(iv) With respect to each Mortgage Loan other
than a Cooperative Loan, the original recorded
assignment or assignments of the Mortgage showing
an unbroken chain of title from the originator
thereof to the Person assigning it to the Trustee
or a copy of such assignment or assignments of the
Mortgage certified by the public recording office
in which such assignment or assignments have been
recorded; and
(v) The original of each modification,
assumption agreement or preferred loan agreement,
if any, relating to such Mortgage Loan or a copy of
each modification, assumption agreement or
preferred loan agreement certified by the public
recording office in which such document has been
recorded;
and (II) with respect to each Cooperative Loan so
assigned:
(i) The original Mortgage Note, endorsed
without recourse to the order of the Trustee and showing
an unbroken chain of endorsements from the originator
thereof to the Person endorsing it to the Trustee, or
with respect to any Destroyed Mortgage Note, an original
lost note affidavit from the related Seller or
Residential Funding stating that the original Mortgage
Note was lost, misplaced or destroyed, together with a
copy of the related Mortgage Note;
(ii) A counterpart of the Cooperative Lease
and the Assignment of Proprietary Lease to the originator
of the Cooperative Loan with intervening assignments
showing an unbroken chain of title from such originator
to the Trustee;
(iii) The related Cooperative Stock
Certificate, representing the related Cooperative Stock
pledged with respect to such Cooperative Loan, together
with an undated stock power (or other similar instrument)
executed in blank;
(iv) The original recognition agreement by the
Cooperative of the interests of the mortgagee with
respect to the related Cooperative Loan;
(v) The Security Agreement;
(vi) Copies of the original UCC-1 financing
statement, and any continuation statements, filed by the
originator of such Cooperative Loan as secured party,
each with evidence of recording thereof, evidencing the
interest of the originator under the Security Agreement
and the Assignment of Proprietary Lease;
(vii) Copies of the filed UCC-3 assignments of
the security interest referenced in clause (vi) above
showing an unbroken chain of title from the originator to
the Trustee, each with evidence of recording thereof,
evidencing the interest of the originator under the
Security Agreement and the Assignment of Proprietary
Lease;
(viii) An executed assignment of the interest
of the originator in the Security Agreement, Assignment
of Proprietary Lease and the recognition agreement
referenced in clause (iv) above, showing an unbroken
chain of title from the originator to the Trustee;
(ix) The original of each modification,
assumption agreement or preferred loan agreement, if any,
relating to such Cooperative Loan; and
(x) An executed UCC-1 financing statement
showing the Master Servicer as debtor, the Company as
secured party and the Trustee as assignee and an executed
UCC-1 financing statement showing the Company as debtor
and the Trustee as secured party, each in a form
sufficient for filing, evidencing the interest of such
debtors in the Cooperative Loans.
Capitalized words and phrases used herein shall
have the respective meanings assigned to them in the
above-captioned Custodial Agreement.
NORWEST BANK MINNESOTA,
NATIONAL ASSOCIATION
By:
Name:
Title:
EXHIBIT F
MORTGAGE LOAN SCHEDULE
RUN ON : 12/08/95 RFC DISCLOSURE SYSTEM
RFFSD177-01
AT : 09.10.18 FIXED RATE LOAN LISTING
AMORTIZED BALANCE
SERIES : RFMSI I 1995 R-20
CUTOFF : 12/01/95
POOL : 0010044
:
:
POOL STATUS: F
RFC LOAN # S/S CODE PMT TYPE ORIGINAL BAL
LOAN FEATURE
MORTGAGOR NAME ORIG TERM PRINCIPAL BAL
# OF UNITS
ADDRESS ORIG RATE ORIGINAL P+I
LTV
ADDRESS LINE 2 CURR NET CURRENT P+I
VALUE
CITY STATE ZIP LOAN PURP NOTE DATE
MI CO CODE
SERVICER LOAN # PROP TYPE 1ST PMT DATE
MI CVG
SELLER LOAN # OCCP CODE MATURITY DATE
INVESTOR LOAN #
_________________________________________________________________
_____________
1455361 447/447 F 535,000.00
ZZ
WOLFE 360 533,830.94
1
2580 COPELAND ROAD 7.625 3,786.70
74
7.375 3,786.70
725,000.00
MAPLE PLAIN MN 55359 1 08/30/95
00
1547647 05 10/01/95
0
1547647 O 09/01/25
0
1455362 447/447 F 306,000.00
ZZ
CRAVEN 360 196,372.94
1
NKA MT PLEASANT ROAD 9.250 2,517.39
85
9.000 2,517.39
360,000.00
PORT ANGELES WA 98362 1 05/18/94
04
1613572 05 06/01/94
0
1613572 O 05/01/24
0
1455363 447/447 F 205,000.00
ZZ
PLATT 360 204,353.93
1
710 PLATT LANE 8.375 1,558.15
66
8.125 1,558.15
315,000.00
PALMER LAKE CO 80133 2 06/09/95
00
1636883 05 08/01/95
0
1636883 O 07/01/25
0
1455365 447/447 F 272,000.00
T
GREENE 360 270,788.86
1
1187 AMERICAN WAY 9.625 2,311.98
79
9.375 2,311.98
345,000.00
BRECKENRIDGE CO 80424 2 02/06/95
00
1674808 05 04/01/95
0
1
1674808 O 03/01/25
0
1455366 447/447 F 375,000.00
ZZ
LATHEM 360 372,565.53
1
1720 PORTRUSH PLACE 9.250 3,085.04
48
9.000 3,085.04
783,913.00
ALPHARETTA GA 30202 1 11/22/94
00
1838737 03 01/01/95
0
1838737 O 12/01/24
0
1455368 447/447 F 276,730.00
ZZ
KILLE 360 274,103.14
1
9078 EAST VIA MONTOYA 9.500 2,326.90
80
9.250 2,326.90
345,914.00
SCOTTSDALE AZ 85255 1 12/14/94
00
1860735 03 01/01/95
0
1860735 O 12/01/24
0
1455369 447/447 F 266,950.00
ZZ
LAMBKA 360 266,641.70
1
54621 SALEM 8.750 2,100.10
80
8.500 2,100.10
333,727.00
SHELBY TWP MI 48317 1 09/14/95
00
1871197 05 11/01/95
0
1871197 O 10/01/25
0
1455370 447/447 F 300,000.00
ZZ
JHA 360 299,635.21
1
875 ELK PARK DRIVE 8.500 2,306.75
69
8.250 2,306.75
440,000.00
GOLDEN CO 80401 2 09/25/95
00
1871860 03 11/01/95
0
1871860 O 10/01/25
0
1455371 447/447 F 600,000.00
ZZ
PARIS 360 598,901.79
1
5100 OAK LANE 8.500 4,613.49
80
8.250 4,613.49
750,000.00
ARLINGTON TX 76016 1 08/11/95
00
1872477 05 10/01/95
0
1872477 O 09/01/25
0
1
1455372 447/447 F 261,000.00
T
CALLAHAN 360 259,727.11
1
6612 ESTERO BOULEVARD PH-3 9.750 2,242.40
90
9.500 2,242.40
290,000.00
FORT MYERS BEAC FL 33931 1 03/07/95
04
1874312 06 04/01/95
0
1874312 O 03/01/25
0
1455373 447/447 F 273,850.00
ZZ
EMERSON 360 273,508.38
1
2559 BAHIA HERMOSA 8.375 2,081.46
80
8.125 2,081.46
342,965.00
LAKE HAVASU CIT AZ 86406 1 09/12/95
00
1882156 05 11/01/95
0
1882156 O 10/01/25
0
1455374 447/447 F 250,000.00
ZZ
TIPPETT 360 247,671.00
1
17 KNOB HILL STREET 8.625 1,944.48
59
8.325 1,944.48
425,000.00
SHARON MA 02067 1 08/19/94
00
1895782 05 10/01/94
0
1895782 O 09/01/24
0
1455375 447/447 F 128,400.00
ZZ
WHITE 360 127,142.48
1
462 LAGRANGE STREET 8.375 975.94
70
8.075 975.94
184,000.00
WEST ROXBURY MA 02132 1 08/22/94
00
1895808 05 10/01/94
0
1895808 O 09/01/24
0
1455377 447/447 F 242,950.00
ZZ
KOMANDURI 360 241,810.63
1
176 JERI DRIVE 9.375 2,020.74
90
9.125 2,020.74
269,962.00
HENDERSON NV 89014 1 02/02/95
04
1898169 03 04/01/95
0
1898169 O 03/01/25
0
1455378 447/447 F 230,000.00
ZZ
COLEMAN 360 229,497.41
1
3102 CAMP RANGER LANE 7.625 1,627.93
95
7.375 1,627.93
242,120.00
1
JAMESTOWN NC 27282 1 08/31/95
04
1904063 03 10/01/95
0
1904063 O 09/01/25
0
1455379 447/447 F 263,200.00
ZZ
CLARK 360 262,170.69
1
2045 EAST RUM RIVER DR 9.000 2,117.77
88
8.750 2,117.77
300,000.00
CAMBRIDGE MN 55008 1 05/04/95
21
1905366 05 06/01/95
0
1905366 O 05/01/25
0
1455380 447/447 F 251,000.00
ZZ
GARCIA 360 250,201.03
1
27940 ELM GROVE 8.125 1,863.67
73
7.875 1,863.67
347,500.00
SAN ANTONIO TX 78261 2 08/31/95
00
1913773 03 10/01/95
0
1913773 O 09/01/25
0
1455381 447/447 F 276,500.00
ZZ
COLBY 360 274,645.51
1
5443 N.W. 110TH AVENUE 9.500 2,324.96
90
9.250 2,324.96
307,379.00
CORAL SPRINGS FL 33076 1 10/28/94
04
1914646 03 12/01/94
0
1914646 O 11/01/24
0
1455382 447/447 F 211,500.00
ZZ
PEREZ-LACEY 360 211,261.98
1
7 CASA DEL ORO WAY 8.875 1,682.79
90
8.625 1,682.79
235,000.00
SANTA FE NM 87505 1 09/15/95
11
1926208 03 11/01/95
0
1926208 O 10/01/25
0
1455383 447/447 F 215,000.00
ZZ
KRALL 360 214,606.46
1
1075 MOBLEY ROAD 8.500 1,653.17
54
8.250 1,653.17
400,000.00
CEDAR HILL TX 75104 2 08/11/95
00
1930243 05 10/01/95
0
1930243 O 09/01/25
0
1
1455384 447/447 F 243,000.00
ZZ
LEYVA 360 242,194.37
1
2480 EAST ENCINAS AVENUE 8.125 1,804.27
89
7.875 1,804.27
274,441.00
GILBERT AZ 85234 1 06/20/95
10
2001333 03 08/01/95
0
2001333 O 07/01/25
0
1455385 447/447 F 230,800.00
ZZ
PIERCE 360 229,995.28
1
W5083 FOX LANE 7.875 1,673.47
80
7.625 1,673.47
288,500.00
SHERWOOD WI 54169 1 06/29/95
00
2002912 05 08/01/95
0
2002912 O 07/01/25
0
1455386 447/447 F 232,465.00
ZZ
LARSEN 360 232,174.99
1
11218 WOODS TRAIL 8.375 1,766.91
95
8.125 1,766.91
244,700.00
CHAMPLIN MN 55316 1 09/15/95
04
2003977 05 11/01/95
0
2003977 O 10/01/25
0
1455387 447/447 F 525,000.00
ZZ
CUSHING 360 523,169.58
1
4488 CROSS CREEK WAY 7.875 3,806.62
75
7.625 3,806.62
700,000.00
SAN LUIS OBISPO CA 93401 1 06/06/95
00
2004498 05 08/01/95
0
2004498 O 07/01/25
0
1455388 447/447 F 272,000.00
ZZ
FERINI 360 271,098.21
1
4682 KENNINGTON DRIVE 8.125 2,019.60
80
7.875 2,019.60
340,000.00
SANTA MARIA CA 93455 1 06/08/95
00
2005475 05 08/01/95
0
2005475 O 07/01/25
0
1455389 447/447 F 327,000.00
ZZ
KUHL 360 325,859.92
1
1
3395 ROYAL MEADOW LANE 7.875 2,370.98
75
7.625 2,370.98
440,485.00
SAN JOSE CA 95135 1 06/14/95
00
2005795 05 08/01/95
0
2005795 O 07/01/25
0
1455390 447/447 F 276,500.00
ZZ
TAPIA 360 275,052.40
1
27240 TRENTON PLACE 7.375 1,909.72
90
7.125 1,909.72
307,206.00
VALENCIA CA 91354 1 06/16/95
21
2006909 03 08/01/95
0
2006909 O 07/01/25
0
1455391 447/447 F 350,000.00
ZZ
MAROVICH 360 349,342.78
1
3974 GREYSTONE DR NE 8.375 2,660.26
55
8.125 2,660.26
640,000.00
CEDAR RAPIDS IA 52411 1 09/06/95
00
2008970 05 10/01/95
0
2008970 O 09/01/25
0
1455392 447/447 F 248,000.00
ZZ
CHAPMAN 360 247,546.07
1
4833 MEADOW CREEK DRIVE SW 8.500 1,906.91
78
8.250 1,906.91
319,000.00
FARGO ND 58104 2 08/29/95
00
2010500 05 10/01/95
0
2010500 O 09/01/25
0
1455393 447/447 F 232,000.00
ZZ
TIMMONS 360 231,505.58
1
4367 N.W. SILVERBELLE PLACE 7.750 1,662.08
80
7.500 1,662.08
290,000.00
CORVALLIS OR 97330 1 08/01/95
00
2010681 03 10/01/95
0
2010681 O 09/01/25
0
1455394 447/447 F 360,000.00
ZZ
SANCHEZ 360 359,048.39
1
1565 EAGLE RIDGE COURT N.E. 8.125 2,673.00
80
7.875 2,673.00
450,000.00
ALBUQUERQUE NM 87122 1 08/01/95
00
2012542 05 09/01/95
0
1
2012542 O 08/01/25
0
1455395 447/447 F 274,500.00
ZZ
GODFREY 360 273,580.36
1
3510 WALDRON DR 8.375 2,086.40
90
8.125 2,086.40
305,000.00
GREENSBORO NC 27408 1 08/30/95
21
2014418 05 10/01/95
0
2014418 O 09/01/25
0
1455396 447/447 F 292,500.00
ZZ
LILLEGARD 360 292,144.33
1
1331 SOUTH RIDGE ROAD 8.500 2,249.08
90
8.250 2,249.08
325,000.00
DULUTH MN 55804 1 09/11/95
14
2015426 05 11/01/95
0
2015426 O 10/01/25
0
1455397 447/447 F 204,000.00
ZZ
WILLIAMSON 360 203,654.34
1
77 NAUSET AVENUE 8.875 1,623.12
66
8.625 1,623.12
310,000.00
NORTH FALMOUTH MA 02556 1 08/17/95
00
2015776 05 10/01/95
0
2015776 O 09/01/25
0
1455398 447/447 F 336,000.00
ZZ
BOSSI 360 335,319.13
1
2942 GARDENDALE DRIVE 8.000 2,465.45
80
7.750 2,465.45
420,000.00
SAN JOSE CA 95125 1 08/16/95
00
2017057 05 10/01/95
0
2017057 O 09/01/25
0
1455399 447/447 F 245,375.00
ZZ
SERRANO 360 244,829.65
1
28007 WHITESTONE COURT 8.250 1,843.43
86
8.000 1,843.43
287,500.00
HAYWARD CA 94542 1 08/09/95
10
2018675 05 10/01/95
0
2018675 O 09/01/25
0
1
1455400 447/447 F 297,000.00
ZZ
SHINDELDECKER 360 296,619.91
1
4117 LUCAS LANE 8.250 2,231.27
90
8.000 2,231.27
330,000.00
LAKE CHARLES LA 70605 1 09/15/95
21
2019206 05 11/01/95
0
2019206 O 10/01/25
0
1455401 447/447 F 244,800.00
ZZ
BLACK 360 244,502.33
1
23313 NE 189TH COURT 8.500 1,882.31
90
8.250 1,882.31
272,000.00
BATTLE GROUND WA 98604 2 09/20/95
12
2019232 05 11/01/95
0
2019232 O 10/01/25
0
1455402 447/447 F 236,000.00
ZZ
OREILLY 360 235,525.29
1
26 IVY LANE 8.250 1,772.99
80
8.000 1,772.99
295,000.00
ANDOVER MA 01810 1 08/31/95
00
2020264 05 10/01/95
0
2020264 O 09/01/25
0
1455403 447/447 F 241,000.00
T
PIERCE 360 240,728.78
1
13000 EL CAMINO REAL 8.875 1,917.51
90
8.625 1,917.51
268,500.00
ATASCADERO CA 93422 1 09/06/95
21
2021505 05 11/01/95
0
2021505 O 10/01/25
0
1455404 447/447 F 261,000.00
ZZ
KELLER 360 260,497.26
1
RT 8 BOX 336 8.250 1,960.81
90
8.000 1,960.81
290,000.00
SANTA FE NM 87505 1 08/30/95
21
2022572 05 10/01/95
0
2022572 O 09/01/25
0
1455405 447/447 F 234,500.00
ZZ
GORADIA 360 234,036.68
1
23 FERNGLEN DRIVE 8.125 1,741.16
70
7.875 1,741.16
335,000.00
1
THE WOODLANDS TX 77381 1 08/14/95
00
2024780 05 10/01/95
0
2024780 O 09/01/25
0
1455406 447/447 F 268,300.00
ZZ
NORDMARK 360 267,973.77
1
7884 EAST ALTA SIERRA CIRCLE 8.500 2,063.00
95
8.250 2,063.00
282,457.00
SCOTTSDALE AZ 85262 1 09/06/95
21
2025485 03 11/01/95
0
2025485 O 10/01/25
0
1455407 447/447 F 250,000.00
ZZ
WEINER 360 249,680.06
1
647 BALDWIN LANE 8.250 1,878.17
95
8.000 1,878.17
263,500.00
LANGHORNE PA 19047 1 09/27/95
21
2025533 03 11/01/95
0
2025533 O 10/01/25
0
1455408 447/447 F 239,900.00
ZZ
HURTT 360 239,367.39
1
209 NORTH PEMBREY DRIVE 7.875 1,739.45
80
7.625 1,739.45
299,900.00
WILMINGTON DE 19803 1 09/29/95
00
2027589 05 11/01/95
0
2027589 O 10/01/25
0
1455409 447/447 F 234,500.00
ZZ
SMITH 360 234,214.86
1
1960 SHERIDAN AVENUE SOUTH 8.500 1,803.11
70
8.250 1,803.11
335,000.00
MINNEAPOLIS MN 55402 1 09/15/95
00
2027651 05 11/01/95
0
2027651 O 10/01/25
0
1455410 447/447 F 285,600.00
ZZ
PRICE 360 285,215.44
1
3976 LOCH MEADE DRIVE 8.000 2,095.64
80
7.750 2,095.64
357,000.00
LAKELAND TN 38002 1 09/28/95
00
2027678 05 11/01/95
0
2027678 O 10/01/25
0
1
1455411 447/447 F 204,000.00
ZZ
ALYN 360 203,873.20
1
174 OCEAN AVENUE UNIT C-3 8.375 1,550.55
69
8.125 1,550.55
299,000.00
SEA BRIGHT NJ 07760 1 10/06/95
00
2029405 01 12/01/95
0
2029405 O 11/01/25
0
1455412 447/447 F 375,000.00
ZZ
CREAGER 360 374,482.14
1
1040 LOMA AVE. 7.875 2,719.02
53
7.625 2,719.02
715,000.00
CORONADO CA 92118 2 09/22/95
00
2029882 05 11/01/95
0
2029882 O 10/01/25
0
1455413 447/447 F 399,500.00
ZZ
ORLANDO 360 398,948.31
1
237J EVERGREEN MILLS ROAD 7.875 2,896.66
85
7.625 2,896.66
470,000.00
LEESBURG VA 22075 1 09/28/95
21
2030183 05 11/01/95
0
2030183 O 10/01/25
0
1455414 447/447 F 275,000.00
ZZ
SOWINSKI 360 274,656.95
1
480 WOODCREEK CT. 8.375 2,090.20
80
8.125 2,090.20
344,000.00
COMMERCE TWP., MI 48390 1 09/28/95
00
2031022 05 11/01/95
0
2031022 O 10/01/25
0
1455415 447/447 F 228,000.00
ZZ
SHIH 360 227,700.69
1
232 BLUE JAY LANE 8.125 1,692.90
80
7.875 1,692.90
285,000.00
TABERNASH CO 80478 1 09/29/95
00
2035686 05 11/01/95
0
2035686 O 10/01/25
0
1455416 447/447 F 300,000.00
ZZ
SAVAGE 360 299,635.21
1
1
4012 WELLINGSHIRE LANE 8.500 2,306.75
89
8.250 2,306.75
338,774.00
DALLAS TX 75220 1 09/18/95
11
3002428 03 11/01/95
0
3002428 O 10/01/25
0
1455417 447/447 F 231,000.00
ZZ
TREVINO 360 230,065.36
1
909 NORMAN DRIVE 9.500 1,942.38
80
9.250 1,942.38
288,757.00
LOREDO TX 78041 1 03/02/95
00
3002720 03 05/01/95
0
3002720 O 04/01/25
0
1455420 447/447 F 237,600.00
ZZ
VIDEAU 360 232,017.83
1
4530 FRANCISCO ST 9.250 1,954.68
80
9.000 1,954.68
297,000.00
PENSACOLA FL 32504 1 03/23/95
00
3004172 05 05/01/95
0
3004172 O 04/01/25
0
1455421 447/447 F 334,400.00
ZZ
PARRY 360 332,010.14
1
316 FIRE ISLAND BLVD. 9.875 2,903.76
80
9.625 2,903.76
418,000.00
FIRE ISLAND NY 11782 1 02/28/95
00
3004966 05 04/01/95
0
3004966 O 03/01/25
0
1455422 447/447 F 500,000.00
ZZ
WIEDERANDERS 360 498,644.54
1
19730 LA SIERRA BOULEVARD 8.000 3,668.83
80
7.750 3,668.83
625,000.00
SAN ANTONIO TX 78256 1 07/28/95
00
3005261 03 09/01/95
0
3005261 O 08/01/25
0
1455423 447/447 F 225,000.00
T
HIGGS 360 224,158.32
1
67 STONEHAVEN DRIVE 9.875 1,953.78
74
9.625 1,953.78
308,000.00
BELLA VISTA AR 72714 2 03/08/95
00
3007061 03 05/01/95
0
1
3007061 O 04/01/25
0
1455424 447/447 F 297,650.00
ZZ
DOUGLAS 360 296,999.59
1
530 CASTLEBURY LANE 7.625 2,106.75
80
7.375 2,106.75
373,000.00
APPLETON WI 54915 1 08/16/95
00
3007066 05 10/01/95
0
3007066 O 09/01/25
0
1455425 447/447 F 475,000.00
ZZ
ANNETT 360 473,223.00
1
3300 PADDOCK ROAD 9.875 4,124.66
50
9.625 4,124.66
950,000.00
FORT LAUDERDALE FL 33326 1 03/17/95
00
3008182 03 05/01/95
0
3008182 O 04/01/25
0
1455427 447/447 F 280,000.00
ZZ
CASTILLO 360 278,867.12
1
50 WESTELM CIRCLE 9.500 2,354.40
80
9.250 2,354.40
350,000.00
SAN ANTONIO TX 78231 2 03/03/95
00
3009803 03 05/01/95
0
3009803 O 04/01/25
0
1455428 447/447 F 242,250.00
ZZ
MOORE V 360 241,269.90
1
510 GUN ROAD 9.500 2,036.97
95
9.250 2,036.97
255,000.00
HALETHORPE MD 21227 1 03/27/95
19
3010723 05 05/01/95
0
3010723 O 04/01/25
0
1455429 447/447 F 232,000.00
ZZ
DYCK 360 231,586.10
1
13549 E THOROUGHBRED TR 8.625 1,804.48
80
8.375 1,804.48
290,000.00
SCOTTSDALE AZ 85259 1 08/24/95
00
3011747 03 10/01/95
0
3011747 O 09/01/25
0
1
1455430 447/447 F 257,600.00
T
CARBERRY 360 256,643.23
1
8 59TH STREET 9.250 2,119.22
80
9.000 2,119.22
322,000.00
SEA ISLE CITY NJ 08243 1 04/01/95
00
3011927 01 06/01/95
0
3011927 O 05/01/25
0
1455431 447/447 F 315,000.00
ZZ
TANG 360 313,768.07
1
2723 BOOTH ROAD 9.000 2,534.57
90
8.750 2,534.57
350,000.00
HONOLULU HI 96813 1 04/28/95
21
3012212 05 06/01/95
0
3012212 O 05/01/25
0
1455432 447/447 F 244,800.00
ZZ
VOSKERIJIAN 360 243,884.17
1
1022 MAPLE LANE 9.875 2,125.72
90
9.625 2,125.72
272,000.00
NEW HYDE PARK NY 11040 1 03/29/95
04
3012349 05 05/01/95
0
3012349 O 04/01/25
0
1455433 447/447 F 225,900.00
ZZ
DAY 360 225,145.57
1
8195 NW 40TH COURT 9.000 1,817.65
90
8.750 1,817.65
251,000.00
CORAL SPRINGS FL 33065 1 05/16/95
21
3017138 03 07/01/95
0
3017138 O 06/01/25
0
1455434 447/447 F 252,000.00
ZZ
POSTHUMUS 360 250,895.39
1
12295 197TH STREET WEST 9.375 2,096.01
80
9.125 2,096.01
315,000.00
LAKEVILLE MN 55044 1 03/31/95
00
3017360 05 05/01/95
0
3017360 O 04/01/25
0
1455435 447/447 F 318,500.00
T
COOPER 360 317,177.47
1
41 EAST HAYCOCK POINT ROAD 9.375 2,649.13
70
9.125 2,649.13
455,000.00
1
BRANFORD CT 06405 1 03/31/95
00
3018480 05 05/01/95
0
3018480 O 04/01/25
0
1455436 447/447 F 238,500.00
ZZ
OSORIO 360 237,754.84
1
261-09 69TH AVENUE 9.375 1,983.73
90
9.125 1,983.73
265,000.00
FLORAL PARK NY 11001 1 05/26/95
21
3019317 05 07/01/95
0
3019317 O 06/01/25
0
1455437 447/447 F 300,000.00
ZZ
EDDI 360 298,310.93
1
3 CLARK COURT 9.500 2,522.57
75
9.200 2,522.57
405,000.00
TWP OF OCEAN NJ 07755 1 12/15/94
00
3022792 05 02/01/95
0
3022792 O 01/01/25
0
1455439 447/447 F 312,000.00
ZZ
SIMONAK 360 309,682.05
1
407 LAFAYETTE PARK 9.000 2,510.42
77
8.700 2,510.42
410,000.00
SOUTHLAKE TX 76092 2 10/07/94
00
3022812 03 12/01/94
0
3022812 O 11/01/24
0
1455440 447/447 F 250,000.00
ZZ
MILLER 360 204,904.93
1
#4 CHESTERFIELD ROAD 12.000 2,572.50
69
11.700 2,572.50
365,000.00
ROLLING HILLS E CA 90274 1 06/26/79
00
3022837 05 09/01/79
0
3022837 O 08/01/09
0
1455441 447/447 F 222,750.00
ZZ
JOHNSON 360 220,919.14
1
2209 ST. JOAN PLACE 8.500 1,712.76
90
8.200 1,712.76
247,546.00
ACCOKEEK MD 20607 1 10/11/94
04
3022844 03 12/01/94
0
3022844 O 11/01/24
0
1
1455442 447/447 F 400,000.00
ZZ
MORALES 360 398,339.11
1
3350 EAST VIA PALOMITA 9.375 3,327.00
80
9.125 3,327.00
500,000.00
TUCSON AZ 85718 1 03/23/95
00
3022946 03 05/01/95
0
3022946 O 04/01/25
0
1455443 447/447 F 340,000.00
BB
PRESS 360 338,728.04
1
1200 YOCUM STREET 9.875 2,952.39
80
9.625 2,952.39
425,000.00
PASADENA CA 91103 1 03/21/95
00
3023032 05 05/01/95
0
3023032 O 04/01/25
0
1455444 447/447 F 300,000.00
ZZ
RIVERS 360 297,267.60
1
7605 RUSTLE RIDGE COURT 8.375 2,280.22
74
8.075 2,280.22
410,000.00
FAIRFAX STATION VA 22039 5 09/21/94
00
3023179 03 11/01/94
0
3023179 O 10/01/24
0
1455445 447/447 F 250,000.00
ZZ
BONNER 360 247,893.03
1
10702 CLERMONT AVENUE 8.375 1,900.19
72
8.075 1,900.19
350,000.00
GARRETT PARK MD 20896 1 10/13/94
00
3023201 05 12/01/94
0
3023201 O 11/01/24
0
1455446 447/447 F 284,500.00
ZZ
SPARTZ 360 282,219.62
1
11054 CRESCENT BAY BOULEVARD 8.625 2,212.82
95
8.325 2,212.82
299,500.00
CLERMONT FL 34711 1 10/27/94
04
3023207 05 12/01/94
0
3023207 O 11/01/24
0
1455447 447/447 F 249,400.00
ZZ
BEADLE 360 247,128.38
1
1
11723 PETENWELL ROAD 8.375 1,895.63
80
8.075 1,895.63
311,785.00
SAN DIEGO CA 92131 1 09/12/94
00
3023212 03 11/01/94
0
3023212 O 10/01/24
0
1455448 447/447 F 220,000.00
ZZ
PEASE 360 216,140.33
1
1041 FOREST STREET (LOT 3) 9.125 1,789.99
80
8.825 1,789.99
275,000.00
NORTH ANDOVER MA 01845 1 11/18/94
00
3023213 05 01/01/95
0
3023213 O 12/01/24
0
1455449 447/447 F 350,000.00
ZZ
WATT 360 347,050.31
1
95-208 WAIKALANI DRIVE 8.375 2,660.26
78
8.075 2,660.26
450,000.00
MILILANI HI 96789 1 10/17/94
00
3023225 05 12/01/94
0
3023225 O 11/01/24
0
1455450 447/447 F 250,000.00
ZZ
PAINTER 360 242,938.05
1
19 LEDGE ROAD 8.375 1,900.19
80
8.075 1,900.19
315,000.00
EAST LYME CT 06333 1 10/17/94
00
3023233 05 12/01/94
0
3023233 O 11/01/24
0
1455451 447/447 F 220,500.00
ZZ
ABBOTT 360 218,641.75
1
2113 NOBILI AVENUE 8.375 1,675.96
90
8.075 1,675.96
245,000.00
SANTA CLARA CA 95051 1 10/04/94
04
3023237 05 12/01/94
0
3023237 O 11/01/24
0
1455452 447/447 F 274,350.00
ZZ
JOHNSON 360 272,037.92
1
14505 JONES BRIDGE ROAD 8.375 2,085.26
80
8.075 2,085.26
342,985.00
UPPER MARLBORO MD 20772 1 10/14/94
00
3023263 03 12/01/94
0
1
3023263 O 11/01/24
0
1455454 447/447 F 234,000.00
ZZ
HAUG 360 233,028.43
1
2612 SILVERFIELD LANE 9.375 1,946.29
80
9.125 1,946.29
292,500.00
EDMOND OK 73034 1 03/01/95
00
3023312 05 05/01/95
0
3023312 O 04/01/25
0
1455455 447/447 F 215,000.00
ZZ
DAVIDSON 360 212,978.04
1
4 BRIERWOOD CIRCLE 8.750 1,691.41
83
8.450 1,691.41
259,900.00
ANDOVER MA 01810 1 09/29/94
04
3023333 05 11/01/94
0
3023333 O 10/01/24
0
1455457 447/447 F 260,000.00
ZZ
SCULLY 360 190,295.72
1
12008 PRADERA ROAD 10.625 2,402.65
61
10.325 2,402.65
430,000.00
CAMARILLO CA 93010 1 07/11/86
00
3023349 05 09/01/86
0
3023349 O 08/01/16
0
1455458 447/447 F 342,000.00
ZZ
LANDMAN 360 339,836.01
1
2205 CANTERBURY DRIVE 9.375 2,844.59
90
9.075 2,844.59
380,000.00
WESTOVER HILLS TX 76107 1 11/28/94
04
3023350 05 01/01/95
0
3023350 O 12/01/24
0
1455459 447/447 F 259,000.00
ZZ
CATENA 360 257,361.15
1
190 RUTGERS PLACE 9.375 2,154.24
70
9.075 2,154.24
370,000.00
TWP OF NUTLEY NJ 07117 1 12/01/94
00
3023357 05 01/01/95
0
3023357 O 12/01/24
0
1
1455460 447/447 F 236,200.00
ZZ
COX 360 233,805.35
1
12510 RANCHITOS AVENUE NE 9.250 1,943.16
80
8.950 1,943.16
295,299.00
ALBUQUERQUE NM 87122 1 10/10/94
00
3023365 05 12/01/94
0
3023365 O 11/01/24
0
1455461 447/447 F 227,250.00
ZZ
KAKALEC 360 225,394.14
1
122 DEEPDALE ROAD 8.875 1,808.10
90
8.575 1,808.10
252,500.00
STRAFFORD PA 19087 1 12/16/94
04
3023368 05 02/01/95
0
3023368 O 01/01/25
0
1455462 447/447 F 243,000.00
ZZ
D'AGNOLO 360 241,145.04
1
8 IRVING PLACE 9.250 1,999.11
70
8.950 1,999.11
350,000.00
TWP OF NUTLEY NJ 07110 1 09/16/94
00
3023369 05 11/01/94
0
3023369 O 10/01/24
0
1455463 447/447 F 236,800.00
ZZ
BEULKE 360 234,506.47
1
1514 BORDEAUX PLACE 8.875 1,884.09
80
8.575 1,884.09
296,000.00
NORFOLK VA 23509 1 10/13/94
00
3023398 03 12/01/94
0
3023398 O 11/01/24
0
1455465 447/447 F 203,500.00
ZZ
JACOB 360 201,485.86
1
2075 LEEDOM'S DRIVE 9.250 1,674.14
70
8.950 1,674.14
290,706.00
NEWTOWN PA 18940 1 12/12/94
00
3023412 05 02/01/95
0
3023412 O 01/01/25
0
1455466 447/447 F 105,000.00
ZZ
CRANE 360 104,242.20
1
346 LAKEPOINT DRIVE 9.625 892.49
70
9.325 892.49
150,000.00
1
WILLIS TX 77378 2 12/19/94
00
3023751 03 02/01/95
0
3023751 O 01/01/25
0
1455468 447/447 F 325,000.00
ZZ
PUTERBAUGH 360 323,615.12
1
5432 SOUTH DAYTON COURT 9.250 2,673.70
77
9.000 2,673.70
425,000.00
ENGLEWOOD CO 80111 1 03/27/95
00
3024919 05 05/01/95
0
3024919 O 04/01/25
0
1455469 447/447 F 135,000.00
ZZ
ANGELL 360 134,053.83
1
1805 WEST CREEK LOOP 8.875 1,074.13
70
8.575 1,074.13
193,500.00
ROUND ROCK TX 78681 1 11/16/94
00
3025127 05 01/01/95
0
3025127 O 12/01/24
0
1455470 447/447 F 250,000.00
ZZ
KNOWLES 360 249,819.05
1
3 REESE DRIVE 7.625 1,769.49
58
7.375 1,769.49
435,000.00
NEWARK DE 19711 1 10/10/95
00
3025916 03 12/01/95
0
3025916 O 11/01/25
0
1455471 447/447 F 324,000.00
ZZ
VISCA 360 322,619.43
1
20303 SPRING CREEK TRAIL 9.250 2,665.47
90
9.000 2,665.47
360,000.00
PINE CO 80470 1 04/07/95
21
3026342 05 05/01/95
0
3026342 O 04/01/25
0
1455472 447/447 F 369,000.00
ZZ
INAM 360 366,324.01
1
112-114 FULTON ST UNIT 6B 9.500 3,102.75
90
9.200 3,102.75
410,000.00
BOSTON MA 02109 1 09/02/94
04
3026665 01 11/01/94
0
3026665 O 10/01/24
0
1
1455473 447/447 F 228,000.00
ZZ
MITCHUM 360 226,958.11
1
10206 TARPON DRIVE 9.500 1,917.15
80
9.250 1,917.15
285,000.00
TREASURE ISLAND FL 33706 1 02/28/95
00
3026931 05 04/01/95
0
3026931 O 03/01/25
0
1455474 447/447 F 248,500.00
ZZ
BAIN 360 247,477.23
1
55 THUNDER ROAD 9.625 2,112.22
95
9.375 2,112.22
262,200.00
MILLER PLACE NY 11764 1 03/06/95
04
3026987 05 05/01/95
0
3026987 O 04/01/25
0
1455475 447/447 F 593,350.00
ZZ
HANSEN 360 590,554.60
1
5500 LINMORE LANE 9.375 4,935.18
80
9.125 4,935.18
741,726.00
PLANO TX 75093 1 03/03/95
00
3027413 05 05/01/95
0
3027413 O 04/01/25
0
1455476 447/447 F 221,350.00
ZZ
GILLETTE JR 360 219,663.01
1
5647 MANUEL PLACE 9.125 1,800.98
95
8.825 1,800.98
233,000.00
SUGARHILL GA 30518 1 10/14/94
04
3028328 03 12/01/94
0
3028328 O 11/01/24
0
1455478 447/447 F 350,000.00
ZZ
LAWRENCE 360 348,700.08
1
3010 LA MESA DRIVE 9.250 2,879.37
88
9.000 2,879.37
400,000.00
HENDERSON NV 89014 1 04/13/95
04
3029633 03 06/01/95
0
3029633 O 05/01/25
0
1455479 447/447 F 350,000.00
BB
BOWMAN 360 348,655.85
1
1
4025 CALLE LISA 9.750 3,007.05
87
9.500 3,007.05
405,000.00
SAN CLEMENTE CA 92672 1 03/22/95
11
3030017 03 05/01/95
0
3030017 O 04/01/25
0
1455480 447/447 F 295,200.00
ZZ
MASTERS 360 291,688.28
1
6 BELLEVUE ROAD 8.375 2,243.74
80
8.125 2,243.74
369,000.00
ARLINGTON MA 02174 1 05/22/95
00
3034092 05 07/01/95
0
3034092 O 06/01/25
0
1455481 447/447 F 242,250.00
ZZ
MADDALENA 360 241,244.16
1
652 VIA JACINTO 9.375 2,014.91
95
9.125 2,014.91
255,000.00
YUBA CITY CA 95993 1 03/14/95
11
3034349 05 05/01/95
0
3034349 O 04/01/25
0
1455482 447/447 F 231,000.00
BB
WEIR 360 230,015.70
1
4147 HILLCREST AVENUE SW 9.250 1,900.38
72
9.000 1,900.38
323,000.00
SEATTLE WA 98116 1 03/07/95
00
3035539 05 05/01/95
0
3035539 O 04/01/25
0
1455483 447/447 F 224,800.00
T
SOARES 360 223,866.60
1
299 GENOA SPRINGS DRIVE 9.375 1,869.77
80
9.125 1,869.77
281,000.00
GENOA NV 89411 1 03/13/95
00
3038566 03 05/01/95
0
3038566 O 04/01/25
0
1455484 447/447 F 275,000.00
BB
LYON 360 274,126.77
1
1168 PACIFIC AVENUE 10.000 2,413.33
35
9.750 2,413.33
800,000.00
CAYUCOS CA 93430 2 04/09/95
00
3040207 05 06/01/95
0
1
3040207 O 05/01/25
0
1455485 447/447 F 283,500.00
BB
MCCABE 360 282,466.89
1
2171 VIA AGUILA 10.000 2,487.92
90
9.750 2,487.92
315,000.00
SAN CLEMENTE CA 92673 1 03/23/95
11
3040974 01 05/01/95
0
3040974 O 04/01/25
0
1455486 447/447 F 372,000.00
ZZ
KILMER 360 368,405.48
1
3609 APPLETON STREET NW 7.875 2,697.26
80
7.625 2,697.26
465,000.00
WASHINGTON DC 20016 1 05/19/95
00
3042221 05 07/01/95
0
3042221 O 06/01/25
0
1455487 447/447 F 483,000.00
T
MURDOCH 360 480,740.59
1
1918 WARREN WAGON ROAD 9.375 4,017.35
68
9.125 4,017.35
716,000.00
MCCALL ID 83638 2 03/10/95
00
3042508 05 05/01/95
0
3042508 O 04/01/25
0
1455488 447/447 F 350,000.00
ZZ
CURRY 360 345,484.90
1
17075 STORMY DRIVE 9.500 2,942.99
67
9.250 2,942.99
530,015.00
HAYMARKET VA 22069 1 03/23/95
00
3042689 03 05/01/95
0
3042689 O 04/01/25
0
1455489 447/447 F 305,000.00
ZZ
SILVERS 360 303,676.93
1
1853 SPINNAKER LANE 9.750 2,620.42
64
9.500 2,620.42
480,000.00
AZLE TX 76020 1 02/06/95
00
3042786 03 04/01/95
0
3042786 O 03/01/25
0
1
1455490 447/447 F 854,000.00
ZZ
CALLAHAN 360 850,720.43
1
986 PRIVATE ROAD 9.750 7,337.18
70
9.500 7,337.18
1,220,000.00
WINNETKA IL 60093 1 03/08/95
00
3044116 05 05/01/95
0
3044116 O 04/01/25
0
1455491 447/447 F 253,650.00
ZZ
BOYLAN JR 360 252,701.07
1
29 FRENCH MILL ROAD 9.875 2,202.57
95
9.625 2,202.57
267,000.00
HOLLIS NH 03049 1 03/28/95
14
3050417 05 05/01/95
0
3050417 O 04/01/25
0
1455492 447/447 F 225,000.00
ZZ
FRANCISCO 360 224,065.72
1
148-32 9TH AVENUE 9.375 1,871.44
75
9.125 1,871.44
300,000.00
WHITESTONE NY 11357 1 03/23/95
00
3051899 05 05/01/95
0
3051899 O 04/01/25
0
1455493 447/447 F 50,000.00
ZZ
ENGLE 360 49,763.81
1
109 LA COSTA STREET #505 8.750 393.36
49
8.500 393.36
103,000.00
MELBOURNE BEACH FL 32951 1 03/28/95
00
3053640 01 05/01/95
0
3053640 O 04/01/25
0
1455494 447/447 F 294,550.00
ZZ
FEINGOLD 360 293,467.33
1
1320 EAST VOLTAIRE AVENUE 8.125 2,187.03
90
7.875 2,187.03
327,313.00
PHOENIX AZ 85032 1 07/18/95
11
3056535 03 09/01/95
0
3056535 O 08/01/25
0
1455495 447/447 F 245,712.00
ZZ
WALTER 360 244,654.48
1
203 DAVIES COURT 7.750 1,760.32
90
7.500 1,760.32
273,044.00
1
FOLSOM CA 95630 1 05/18/95
21
3057024 05 07/01/95
0
3057024 O 06/01/25
0
1455496 447/447 F 326,700.00
ZZ
BYINGTON 360 326,332.32
1
26 PASEO DE PAZ 8.875 2,599.38
90
8.625 2,599.38
363,000.00
TIJERAS NM 87059 1 09/07/95
11
3058402 03 11/01/95
0
3058402 O 10/01/25
0
1455497 447/447 F 212,000.00
ZZ
LORENZ 360 211,591.63
1
16440 SKYRIDGE LANE 8.250 1,592.69
79
8.000 1,592.69
270,000.00
FOUNTAIN HILLS AZ 85268 1 08/31/95
00
3058642 05 10/01/95
0
3058642 O 09/01/25
0
1455498 447/447 F 289,900.00
ZZ
DETERMAN 360 289,200.43
1
16731 INTERLACHEN BLVD 7.500 2,027.03
90
7.250 2,027.03
322,212.00
LAKEVILLE MN 55044 1 09/28/95
21
3058986 05 11/01/95
0
3058986 O 10/01/25
0
1455499 447/447 F 216,320.00
ZZ
KENNEDY 360 215,489.22
1
1390 FAUNA S.W. 9.750 1,858.53
80
9.500 1,858.53
270,400.00
BURLINGTON KS 66839 2 03/08/95
00
3062381 05 05/01/95
0
3062381 O 04/01/25
0
1455500 447/447 F 300,000.00
ZZ
SWENGEL, 360 299,140.89
1
10911 PARADISE DRIVE 8.625 2,333.37
72
8.375 2,333.37
422,000.00
SCOTTSDALE AZ 85259 1 09/01/95
00
3064474 03 11/01/95
0
3064474 O 10/01/25
0
1
1455501 447/447 F 225,700.00
ZZ
BARKLEY, 360 224,752.54
1
2912 GRAY BEACH COURT 7.875 1,636.49
70
7.625 1,636.49
325,725.00
HARWOOD MD 21037 1 06/28/95
00
3065753 03 08/01/95
0
3065753 O 07/01/25
0
1455502 447/447 F 279,000.00
ZZ
GEORGE 360 277,983.35
1
45806 STRAWBERRY ROAD 10.000 2,448.42
70
9.750 2,448.42
400,000.00
COARSEGOLD CA 93614 2 03/17/95
00
3066275 05 05/01/95
0
3066275 O 04/01/25
0
1455503 447/447 F 215,100.00
ZZ
LOPEZ 360 214,014.50
1
4856 W. CATALPA AVENUE 9.500 1,808.68
90
9.250 1,808.68
239,000.00
CHICAGO IL 60630 1 04/17/95
11
3070036 05 06/01/95
0
3070036 O 05/01/25
0
1455504 447/447 F 257,436.00
ZZ
HALL 240 254,553.73
1
339 WOODLAND ROAD 9.750 2,441.83
56
9.500 2,441.83
465,000.00
MADISON NJ 07940 2 03/24/95
00
3071967 05 05/01/95
0
3071967 O 04/01/15
0
1455505 447/447 F 319,000.00
ZZ
HUNT 360 317,774.92
1
2220 STONEGATE MANOR 9.750 2,740.71
87
9.500 2,740.71
370,000.00
CHESTERFIELD MO 63017 2 03/14/95
14
3074387 03 05/01/95
0
3074387 O 04/01/25
0
1455506 447/447 F 220,000.00
ZZ
LEES 360 219,182.91
1
1
11609 BRIDGEHEAD COURT 9.250 1,809.89
80
9.000 1,809.89
275,000.00
COLUMBIA MD 21044 1 04/28/95
00
3074665 05 06/01/95
0
3074665 O 05/01/25
0
1455507 447/447 F 600,000.00
ZZ
MARON 360 597,992.07
1
708 GALLOPING HILLS ROAD 9.750 5,154.93
78
9.500 5,154.93
770,000.00
FRANKLIN LAKES NJ 07417 2 04/14/95
00
3075094 05 06/01/95
0
3075094 O 05/01/25
0
1455508 447/447 F 436,100.00
BB
ESPARZA 360 434,680.76
1
6901 SETON HOUSE LANE 9.125 3,548.26
89
8.875 3,548.26
490,000.00
CHARLOTTE NC 28277 1 05/05/95
14
3075961 03 07/01/95
0
3075961 O 06/01/25
0
1455509 447/447 F 457,650.00
ZZ
WAHLEN 360 455,335.05
1
3480 BAKER DRIVE 9.125 3,723.59
80
8.825 3,723.59
572,099.00
OGDEN UT 84403 1 03/21/95
00
3076422 05 05/01/95
0
3076422 O 04/01/25
0
1455510 447/447 F 213,750.00
ZZ
WRIGHT 360 211,991.64
1
2024 INDIANA AVENUE 8.750 1,681.57
95
8.450 1,681.57
225,000.00
HOUSTON TX 77019 1 10/10/94
04
3076729 05 12/01/94
0
3076729 O 11/01/24
0
1455512 447/447 F 179,500.00
ZZ
URBAN 360 178,334.77
1
1047 CACTUS COURT 9.250 1,476.70
55
9.000 1,476.70
329,500.00
THOUSAND OAKS CA 91320 1 11/17/94
00
3076931 03 01/01/95
0
1
3076931 O 12/01/24
0
1455513 447/447 F 230,850.00
BB
JOHNSON 360 230,077.45
1
32945 DANASPRUCE 9.750 1,983.36
90
9.500 1,983.36
256,500.00
DANA POINT CA 92629 1 04/26/95
04
3077163 03 06/01/95
0
3077163 O 05/01/25
0
1455514 447/447 F 231,750.00
ZZ
DRAPER 360 230,285.44
1
17 LAKE MIST DRIVE 9.250 1,906.56
75
9.000 1,906.56
309,000.00
SUGAR LAND TX 77479 1 03/24/95
00
3080372 03 05/01/95
0
3080372 O 04/01/25
0
1455515 447/447 F 234,000.00
ZZ
HUG 360 233,061.06
1
12518 SOUTH FOXTON ROAD 8.875 1,861.81
90
8.625 1,861.81
260,000.00
FOXTON CO 80441 1 04/24/95
21
3084224 05 06/01/95
0
3084224 O 05/01/25
0
1455516 447/447 F 389,600.00
ZZ
WILTON 360 388,698.60
1
2130 LOWER ST DENNIS ROAD 8.000 2,858.75
80
7.750 2,858.75
487,000.00
ST PAUL MN 55116 1 08/25/95
00
3086525 05 10/01/95
0
3086525 O 09/01/25
0
1455517 447/447 F 234,500.00
ZZ
O'BRIEN 360 220,810.11
1
7035 SUFFOLK LANE 8.000 1,709.32
70
7.750 1,709.32
335,000.00
PARKLAND FL 33067 2 04/22/92
00
3089650 05 06/01/92
0
3089650 O 05/01/22
0
1
1455518 447/447 F 550,000.00
ZZ
SMITH, 360 528,404.22
1
4175 WOODLANE COURT 8.125 4,053.39
71
7.875 4,053.39
775,000.00
WESTLAKE VILLAG CA 91362 1 05/12/92
00
3089672 05 07/01/92
0
3089672 O 06/01/22
0
1455519 447/447 F 212,000.00
ZZ
CAROLO 360 204,058.87
1
367 CHRISTINA COURT 8.250 1,582.37
80
8.000 1,582.37
265,000.00
PLEASANTON CA 94566 5 05/19/92
00
3089683 05 07/01/92
0
3089683 O 06/01/22
0
1455520 447/447 F 256,000.00
ZZ
ELYAHU 360 248,291.67
1
5379 YOLANDA AVENUE 7.500 1,798.23
79
7.250 1,798.23
325,000.00
TARZANA (AREA) CA 91356 2 06/12/92
00
3089687 05 08/01/92
0
3089687 O 07/01/22
0
1455521 447/447 F 180,000.00
ZZ
EDWARDS 360 174,711.22
1
1728 NE STANTON STREET 8.250 1,346.40
66
8.000 1,346.40
275,000.00
PORTLAND OR 97212 5 12/23/92
00
3089706 05 02/01/93
0
3089706 O 01/01/23
0
1455522 447/447 F 100,000.00
ZZ
COX 360 99,133.69
1
15914 S.E. NEWPORT WAY 8.625 777.79
49
8.375 777.79
205,000.00
BELLEVUE WA 98006 1 09/13/94
00
3089708 05 11/01/94
0
3089708 O 10/01/24
0
1455523 447/447 F 247,000.00
ZZ
PADRE 360 244,196.93
1
28930 N. DEODAR PLACE 9.500 2,076.91
90
9.250 2,076.91
277,000.00
1
SAUGUS CA 91350 2 11/03/94
04
3089710 05 01/01/95
0
3089710 O 12/01/24
0
1455524 447/447 F 350,000.00
ZZ
SHINBO 360 347,977.94
1
6748 SE 25TH STREET 9.375 2,911.13
62
9.125 2,911.13
570,000.00
MERCER ISLAND WA 98040 2 12/08/94
00
3089716 05 02/01/95
0
3089716 O 01/01/25
0
1455525 447/447 F 230,000.00
ZZ
HERZOG 360 229,690.31
1
78 OLD MILL ROAD 8.000 1,687.66
56
7.750 1,687.66
411,007.00
MEDIA PA 19063 1 09/13/95
00
3090008 05 11/01/95
0
3090008 O 10/01/25
0
1455526 447/447 F 420,000.00
ZZ
MULHOLLAND 360 418,894.39
1
150 ROXBURY ROAD 9.250 3,455.24
80
9.000 3,455.24
525,000.00
GARDEN CITY NY 11530 1 06/09/95
00
3096695 05 08/01/95
0
3096695 O 07/01/25
0
1455527 447/447 F 219,450.00
ZZ
BOSTIC 360 218,655.80
1
4846 OCANA AVENUE 9.375 1,825.28
95
9.125 1,825.28
231,000.00
LAKEWOOD CA 90713 1 04/12/95
04
3103798 05 06/01/95
0
3103798 O 05/01/25
0
1455528 447/447 F 225,000.00
ZZ
CUNHA 360 224,164.37
1
600 WARM SPRINGS AVENUE 9.250 1,851.02
80
9.000 1,851.02
283,000.00
BOISE ID 83712 2 04/07/95
00
3103865 05 06/01/95
0
3103865 O 05/01/25
0
1
1455529 447/447 F 236,250.00
ZZ
MURPHY 360 235,372.58
1
1635 N.W. CAXTON COURT 9.250 1,943.57
90
9.000 1,943.57
262,500.00
PORTLAND OR 97229 1 04/05/95
11
3104987 03 06/01/95
0
3104987 O 05/01/25
0
1455530 447/447 F 209,950.00
ZZ
TREVINO 360 209,209.74
1
1815 FORRESTER ROAD 9.500 1,765.37
95
9.250 1,765.37
221,000.00
EL CENTRO CA 92243 1 04/07/95
10
3105123 05 06/01/95
0
3105123 O 05/01/25
0
1455531 447/447 F 900,000.00
ZZ
LIU 360 896,388.74
1
100 SYCAMORE LANE 8.875 7,160.81
47
8.625 7,160.81
1,950,000.00
BRADBURY CA 91010 1 04/13/95
00
3106239 03 06/01/95
0
3106239 O 05/01/25
0
1455532 447/447 F 250,000.00
ZZ
DUKES 360 248,345.08
1
105 LOWELL LANE NORTH 9.125 2,034.09
79
8.875 2,034.09
320,000.00
AUSTIN TX 78733 1 04/13/95
00
3107131 03 06/01/95
0
3107131 O 05/01/25
0
1455534 447/447 F 217,550.00
ZZ
FANTUZZI 360 216,704.50
1
44 DOGWOOD ROAD 9.625 1,849.16
95
9.375 1,849.16
229,000.00
MORRIS PLAINS NJ 07950 1 04/17/95
11
3109589 05 06/01/95
0
3109589 O 05/01/25
0
1455535 447/447 F 210,000.00
ZZ
HENRY 360 209,781.42
1
1
5 SATELLITE COURT 9.250 1,727.62
86
9.000 1,727.62
247,000.00
TIJERAS NM 87059 2 09/28/95
11
3111325 05 11/01/95
0
3111325 O 10/01/25
0
1455536 447/447 F 962,000.00
ZZ
BLACK 360 949,220.31
1
2442 IRON CANYON DRIVE 9.000 7,740.47
65
8.750 7,740.47
1,480,000.00
PARK CITY UT 84060 2 04/13/95
00
3113271 05 06/01/95
0
3113271 O 05/01/25
0
1455538 447/447 F 212,000.00
ZZ
MILLER 360 211,254.73
1
981 WEST 156TH AVENUE 8.750 1,667.80
80
8.500 1,667.80
265,000.00
BROOMFIELD CO 80020 1 05/12/95
00
3116960 05 07/01/95
0
3116960 O 06/01/25
0
1455539 447/447 F 216,900.00
ZZ
SHEETS 360 216,341.03
1
100 DICKEY COURT 8.250 1,629.50
90
8.000 1,629.50
241,000.00
MIDDLETOWN DE 19709 1 07/12/95
21
3119170 05 09/01/95
0
3119170 O 08/01/25
0
1455540 447/447 F 248,600.00
ZZ
LANE 360 247,790.94
1
25645 FROST LANE 9.125 2,022.70
95
8.875 2,022.70
261,750.00
STEVENSON RANCH CA 91381 1 05/01/95
04
3119616 03 07/01/95
0
3119616 O 06/01/25
0
1455541 447/447 F 252,450.00
ZZ
GENNARELLI 360 251,925.36
1
182 BRYANT AVENUE 7.875 1,830.44
85
7.625 1,830.44
297,000.00
GLEN ELLYN IL 60137 1 08/31/95
10
3120535 05 10/01/95
0
1
3120535 O 09/01/25
0
1455542 447/447 F 286,700.00
ZZ
COREN 360 286,333.09
1
595 21 1/8 RD 8.250 2,153.89
80
8.000 2,153.89
360,000.00
GRAND JUNCTION CO 81503 2 09/06/95
00
3123645 05 11/01/95
0
3123645 O 10/01/25
0
1455543 447/447 F 249,600.00
ZZ
FABER 360 248,813.35
1
155 LAKE SHORE ROAD 8.375 1,897.15
80
8.125 1,897.15
312,000.00
BOXFORD MA 01985 1 06/15/95
00
3125439 05 08/01/95
0
3125439 O 07/01/25
0
1455544 447/447 F 233,100.00
ZZ
BADINI 360 232,346.47
1
30 CHATEAU PALMER DRIVE 8.250 1,751.21
90
8.000 1,751.21
259,000.00
KENNER LA 70065 1 07/10/95
10
3129054 05 08/01/95
0
3129054 O 07/01/25
0
1455545 447/447 F 375,000.00
ZZ
PLATOFF 360 374,220.66
1
3 HAMPTON DRIVE 7.875 2,719.02
52
7.625 2,719.02
735,000.00
WOODBRIDGE CT 06525 1 08/02/95
00
3138001 05 10/01/95
0
3138001 O 09/01/25
0
1455546 447/447 F 250,000.00
ZZ
SOCHA 360 249,247.40
1
8 MOUNT HOREB ROAD 9.500 2,102.14
61
9.250 2,102.14
416,000.00
WARREN NJ 07059 1 05/05/95
00
3139211 05 07/01/95
0
3139211 O 06/01/25
0
1
1455547 447/447 F 224,550.00
ZZ
WALTON 360 223,925.73
1
12009 SCOVELL TERRACE 7.875 1,628.15
90
7.625 1,628.15
249,500.00
GERMANTOWN MD 20874 1 07/31/95
21
3139498 05 09/01/95
0
3139498 O 08/01/25
0
1455548 447/447 F 278,000.00
ZZ
NEMELKA 360 276,267.55
1
9149 SOUTH GLEN ABBEY WAY 9.125 2,261.90
80
8.875 2,261.90
347,705.00
SANDY UT 84093 1 05/12/95
00
3139528 05 07/01/95
0
3139528 O 06/01/25
0
1455549 447/447 F 218,400.00
ZZ
RHONE 360 217,664.40
1
807 WHISPERING HILLS RD 8.500 1,679.31
80
8.250 1,679.31
273,000.00
NAPERVILLE IL 60540 1 07/05/95
00
3139671 05 09/01/95
0
3139671 O 08/01/25
0
1455550 447/447 F 238,500.00
BB
SMITH 360 237,919.46
1
217 BELLEVUE BOULEVARD S 9.625 2,027.23
90
9.375 2,027.23
265,000.00
BELLEVUE NE 68005 1 06/15/95
21
3139693 05 08/01/95
0
3139693 O 07/01/25
0
1455551 447/447 F 236,200.00
ZZ
LILES 360 235,578.22
1
4028 BLUEBONNET DRIVE 9.250 1,943.16
90
9.000 1,943.16
262,482.00
PLANO TX 75023 1 06/23/95
14
3140534 05 08/01/95
0
3140534 O 07/01/25
0
1455552 447/447 F 558,500.00
ZZ
FOSTER 360 557,748.01
1
3233 PERKINS LANE WEST 8.000 4,098.08
79
7.750 4,098.08
715,000.00
1
SEATTLE WA 98199 1 09/27/95
00
3142078 05 11/01/95
0
3142078 O 10/01/25
0
1455553 447/447 F 221,000.00
ZZ
MCCAIN 360 220,161.31
1
1212 EAST BEAR HOLLOW COVE 8.375 1,679.76
65
8.075 1,679.76
340,000.00
DRAPER UT 84020 2 05/16/95
00
3143391 05 07/01/95
0
3143391 O 06/01/25
0
1455554 447/447 F 260,000.00
ZZ
HAMMERSTAD 360 259,667.26
1
8210 NW WYNOOCHEE DRIVE 8.250 1,953.30
67
8.000 1,953.30
390,000.00
CORVALIS OR 97330 2 08/31/95
00
3145793 05 11/01/95
0
3145793 O 10/01/25
0
1455555 447/447 F 229,900.00
BB
ROBINSON 360 229,170.98
1
16024 REDONDO DRIVE 9.250 1,891.33
95
9.000 1,891.33
242,000.00
TRACY CA 95376 1 05/18/95
10
3145953 05 07/01/95
0
3145953 O 06/01/25
0
1455556 447/447 F 500,000.00
ZZ
THOMPSON 360 499,343.64
1
668 SAN ANTONIO AVENUE 8.125 3,712.49
80
7.875 3,712.49
630,000.00
SAN DIEGO CA 92106 1 09/05/95
00
3146728 05 11/01/95
0
3146728 O 10/01/25
0
1455557 447/447 F 400,000.00
ZZ
HARBACH 360 398,362.57
1
1039 OLIVE AVENUE 8.000 2,935.06
80
7.750 2,935.06
500,000.00
CORONADO CA 92118 1 05/26/95
00
3146976 05 07/01/95
0
3146976 O 06/01/25
0
1
1455558 447/447 F 424,000.00
ZZ
DONOVAN 360 423,484.44
1
28 W. 180 CANTIGNY 8.500 3,260.20
80
8.250 3,260.20
530,000.00
WINFIELD IL 60190 1 09/28/95
00
3147541 05 11/01/95
0
3147541 O 10/01/25
0
1455559 447/447 F 387,000.00
ZZ
MCCARTHY 360 385,531.34
1
3007 N 3RD STREET N 8.375 2,941.48
90
8.125 2,941.48
430,000.00
ARLINGTON VA 22201 1 05/25/95
04
3147781 05 07/01/95
0
3147781 O 06/01/25
0
1455560 447/447 F 366,000.00
ZZ
BLAIR 360 364,283.63
1
724 N. FREEZE CREEK CIRCLE 9.375 3,044.20
76
9.125 3,044.20
485,000.00
SALT LAKE CITY UT 84108 5 02/20/95
00
3147984 03 04/01/95
0
3147984 O 03/01/25
0
1455561 447/447 F 315,000.00
ZZ
ZABLOCKI 360 312,781.45
1
14819 SEVEN L TRAIL 9.500 2,648.69
80
9.250 2,648.69
394,000.00
HELOTES TX 78023 1 01/19/95
00
3147991 03 03/01/95
0
3147991 O 02/01/25
0
1455562 447/447 F 275,000.00
ZZ
RICHTER 360 274,254.47
1
539 BLUFF ESTATE BOULEVARD 8.000 2,017.86
62
7.750 2,017.86
450,000.00
SAN ANTONIO TX 78216 1 07/20/95
00
3149682 03 09/01/95
0
3149682 O 08/01/25
0
1455563 447/447 F 297,000.00
ZZ
SAKAI 360 295,843.97
1
1
4719 MONTEFINO DRIVE 8.250 2,231.26
90
8.000 2,231.26
330,077.00
CYPRESS CA 90630 1 05/19/95
04
3152428 05 07/01/95
0
3152428 O 06/01/25
0
1455564 447/447 F 300,000.00
ZZ
ZINER 360 283,053.04
1
1300 SOMERSET AVENUE 8.250 2,253.80
65
8.000 2,253.80
466,000.00
DEERFIELD IL 60015 2 07/30/92
00
3152445 05 09/01/92
0
3152445 O 08/01/22
0
1455565 447/447 F 241,200.00
ZZ
MILLARD 360 240,330.07
1
401 ANITA STREET 8.625 1,876.03
90
8.375 1,876.03
268,000.00
REDONDO BEACH CA 90278 2 05/19/95
11
3152572 01 07/01/95
0
3152572 O 06/01/25
0
1455567 447/447 F 340,000.00
ZZ
ROBINSON 360 339,078.30
1
25 GAGE COURT 8.000 2,494.80
80
7.750 2,494.80
425,000.00
HOUSTON TX 77024 1 07/12/95
00
3152708 05 09/01/95
0
3152708 O 08/01/25
0
1455568 447/447 F 235,000.00
ZZ
BISH 360 234,240.35
1
34 HIBISCUS COURT 8.250 1,765.48
70
8.000 1,765.48
337,000.00
DOYLESTOWN PA 18901 1 06/01/95
00
3152850 01 08/01/95
0
3152850 O 07/01/25
0
1455569 447/447 F 260,550.00
ZZ
HEUER 360 259,424.67
1
74 JEFFERSON AVENUE 8.375 1,980.37
90
8.125 1,980.37
289,500.00
HASTING ON HUDS NY 10706 1 06/29/95
21
3153099 05 08/01/95
0
1
3153099 O 07/01/25
0
1455570 447/447 F 270,000.00
ZZ
SEPICH 360 269,034.76
1
3704 SE 152ND AVE 7.750 1,934.32
80
7.500 1,934.32
339,900.00
VANCOUVER WA 98684 1 06/20/95
00
3153213 05 08/01/95
0
3153213 O 07/01/25
0
1455571 447/447 F 265,000.00
BB
RAHMAN 360 264,584.67
1
3052 BALARDO WAY 9.250 2,180.09
90
9.000 2,180.09
294,500.00
SAN JOSE CA 95148 1 08/04/95
12
3153958 05 10/01/95
0
3153958 O 09/01/25
0
1455572 447/447 F 275,000.00
ZZ
CANTWELL 360 274,456.66
1
284 BEAVER DAM ROAD 8.125 2,041.87
64
7.875 2,041.87
435,220.00
BROOKHAVEN NY 11719 1 08/18/95
00
3156378 05 10/01/95
0
3156378 O 09/01/25
0
1455573 447/447 F 280,000.00
ZZ
PHIPPEN 360 278,719.82
1
777 VISTA RIDGE LANE 7.875 2,030.20
68
7.625 2,030.20
416,000.00
SHAKOPEE MN 55379 1 06/16/95
00
3156977 05 08/01/95
0
3156977 O 07/01/25
0
1455574 447/447 F 233,865.00
ZZ
TRAUGOT 360 233,049.66
1
47 WHITEHALL LANE 7.875 1,695.68
90
7.625 1,695.68
260,100.00
READING MA 01867 1 06/29/95
04
3157954 05 08/01/95
0
3157954 O 07/01/25
0
1
1455575 447/447 F 300,000.00
ZZ
SPENCE 360 298,861.48
2
302-306 30TH STREET 8.375 2,280.22
60
8.125 2,280.22
500,000.00
HERMOSA BEACH CA 90254 1 05/24/95
00
3159025 05 07/01/95
0
3159025 O 06/01/25
0
1455576 447/447 F 275,000.00
T
TITLEBAUM 360 274,111.04
1
10 ABBIES LANE 8.250 2,065.99
51
8.000 2,065.99
549,000.00
NORTH FALMOUTH MA 02556 1 06/21/95
00
3160438 05 08/01/95
0
3160438 O 07/01/25
0
1455577 447/447 F 322,000.00
ZZ
GERHARDT 360 321,598.30
1
5602 SOUTH NOME STREET 8.375 2,447.44
60
8.125 2,447.44
545,000.00
ENGLEWOOD CO 80111 1 09/21/95
00
3162972 03 11/01/95
0
3162972 O 10/01/25
0
1455578 447/447 F 321,200.00
ZZ
SPENCER 360 320,549.10
1
1140 KENILWORTH AVENU 8.000 2,356.86
80
7.750 2,356.86
401,500.00
KENWOOD CA 95452 1 08/10/95
00
3165342 05 10/01/95
0
3165342 O 09/01/25
0
1455579 447/447 F 232,200.00
BB
AJZENMAN 360 231,515.13
1
8908 196TH STREET S.E. 9.000 1,868.33
92
8.750 1,868.33
255,000.00
SNOHOMISH WA 98290 1 08/11/95
10
3166580 05 10/01/95
0
3166580 O 09/01/25
0
1455580 447/447 F 315,000.00
ZZ
MCAULEY 360 314,007.28
1
815 RICHARD LANE 8.375 2,394.23
75
8.125 2,394.23
420,000.00
1
DANVILLE CA 94526 2 06/28/95
00
3167943 03 08/01/95
0
3167943 O 07/01/25
0
1455581 447/447 F 400,000.00
ZZ
BATTISTA 360 398,969.15
1
14 MALLARD WAY 8.250 3,005.07
63
8.000 3,005.07
640,000.00
EAST GREENWICH RI 02818 1 07/21/95
00
3168129 05 09/01/95
0
3168129 O 08/01/25
0
1455582 447/447 F 225,000.00
ZZ
O'BRIEN 360 224,520.50
1
39 COPPERDALE LANE 7.750 1,611.93
69
7.500 1,611.93
330,000.00
HUNTINGTON NY 11743 5 08/07/95
00
3171332 05 10/01/95
0
3171332 O 09/01/25
0
1455583 447/447 F 408,000.00
ZZ
KUHN 360 407,152.09
1
9737 SE WESTVIEW COURT 7.875 2,958.29
68
7.625 2,958.29
605,000.00
PORTLAND OR 97266 2 08/08/95
00
3171705 03 10/01/95
0
3171705 O 09/01/25
0
1455584 447/447 F 269,100.00
ZZ
TORTO 360 268,473.87
1
32 BOSTON ROAD 8.750 2,117.02
90
8.500 2,117.02
299,000.00
WESTFORD MA 01886 1 07/20/95
21
3172243 05 09/01/95
0
3172243 O 08/01/25
0
1455585 447/447 F 303,300.00
ZZ
GOOSEY 360 302,790.96
1
33603 GOLDSMITH DRIVE 8.000 2,225.51
90
7.750 2,225.51
337,000.00
FREMONT CA 94538 1 09/08/95
10
3172495 05 11/01/95
0
3172495 O 10/01/25
0
1
1455586 447/447 F 225,000.00
ZZ
PULLIAM 360 224,254.06
1
2234 CHAPALA STREET 8.125 1,670.62
75
7.875 1,670.62
300,000.00
SANTA BARBARA CA 93105 2 06/23/95
00
3172950 05 08/01/95
0
3172950 O 07/01/25
0
1455587 447/447 F 272,000.00
ZZ
KOLODZIEJ 300 271,251.35
1
478 SOUTH PARKWAY 8.875 2,259.38
79
8.625 2,259.38
345,000.00
CLIFTON NJ 07014 2 08/23/95
00
3173648 05 10/01/95
0
3173648 O 09/01/20
0
1455588 447/447 F 300,000.00
ZZ
LEDERMAN 360 299,822.88
1
8 TREMONT TERRACE 8.625 2,333.37
54
8.375 2,333.37
560,000.00
LIVINGSTON NJ 07039 1 10/03/95
00
3173867 05 12/01/95
0
3173867 O 11/01/25
0
1455589 447/447 F 213,000.00
ZZ
ROBERTSON 360 212,522.79
1
10709 COLTON STREET 7.500 1,489.33
88
7.250 1,489.33
243,000.00
FAIRFAX VA 22032 1 08/16/95
12
3174436 05 10/01/95
0
3174436 O 09/01/25
0
1455590 447/447 F 261,600.00
ZZ
SOLAN 300 260,395.93
1
6328 OAK RIDGE DRIVE 7.500 1,933.21
80
7.250 1,933.21
327,000.00
ALEXANDRIA VA 22312 1 07/14/95
00
3174479 05 09/01/95
0
3174479 O 08/01/20
0
1455591 447/447 F 250,000.00
ZZ
ZAINEY 360 249,128.37
1
1
4534 FAIRFIELD PIKE 7.875 1,812.68
63
7.625 1,812.68
400,000.00
SPRINGFIELD OH 45502 1 06/30/95
00
3174541 05 08/01/95
0
3174541 O 07/01/25
0
1455592 447/447 F 223,100.00
ZZ
KEANE 360 222,396.88
1
5342 PASO DEL RIO WAY 8.375 1,695.72
80
8.125 1,695.72
282,000.00
CONCORD CA 94521 2 06/14/95
00
3174862 05 08/01/95
0
3174862 O 07/01/25
0
1455593 447/447 F 246,900.00
ZZ
PLATT 360 246,263.72
1
48 CARA COURT 8.250 1,854.88
95
8.000 1,854.88
259,900.00
NORTH KINGSTOWN RI 02852 1 07/31/95
04
3174955 05 09/01/95
0
3174955 O 08/01/25
0
1455594 447/447 F 284,000.00
ZZ
ORTIZ 360 283,424.47
1
4804 JASMINE COURT 8.000 2,083.90
85
7.750 2,083.90
336,000.00
PUEBLO CO 81001 2 08/18/95
21
3175945 05 10/01/95
0
3175945 O 09/01/25
0
1455596 447/447 F 230,600.00
ZZ
KRAMER 360 229,835.49
1
11961 PROMONTORY COURT 8.125 1,712.20
90
7.875 1,712.20
256,274.00
INDIANAPOLIS IN 46236 1 06/14/95
10
3176940 03 08/01/95
0
3176940 O 07/01/25
0
1455597 447/447 F 317,700.00
ZZ
MELENDEZ 360 316,860.25
1
10904 BLUE STEM COVE 8.125 2,358.91
90
7.875 2,358.91
356,000.00
OKLAHOMA CITY OK 73162 1 07/28/95
10
3177190 03 09/01/95
0
1
3177190 O 08/01/25
0
1455598 447/447 F 232,275.00
ZZ
ROBINSON 360 231,542.93
1
5825 JEFF PLACE 8.375 1,765.47
95
8.125 1,765.47
244,500.00
EDINA MN 55436 1 06/15/95
10
3178174 05 08/01/95
0
3178174 O 07/01/25
0
1455599 447/447 F 219,950.00
ZZ
STEFANSKI 360 219,646.25
1
5 BUCKSKIN LANE 7.875 1,594.80
70
7.625 1,594.80
315,950.00
WESTFORD MA 01886 1 09/29/95
00
3179855 05 11/01/95
0
3179855 O 10/01/25
0
1455600 447/447 F 220,400.00
ZZ
FULTON 360 219,941.96
1
39 CAYER CIRCLE 7.875 1,598.06
95
7.625 1,598.06
232,000.00
SHELTON CT 06484 1 08/04/95
10
3180927 05 10/01/95
0
3180927 O 09/01/25
0
1455601 447/447 F 632,000.00
ZZ
ROSENBERG 360 630,686.60
1
48 MORGAN DRIVE 7.875 4,582.44
80
7.625 4,582.44
790,000.00
OLD WESTBURY NY 11568 1 08/11/95
00
3181886 05 10/01/95
0
3181886 O 09/01/25
0
1455602 447/447 F 254,500.00
ZZ
SEARS 360 253,984.28
1
491 ASHLAND LOOP RD 8.000 1,867.43
67
7.750 1,867.43
380,000.00
ASHLAND OR 97520 1 08/25/95
00
3182470 03 10/01/95
0
3182470 O 09/01/25
0
1
1455603 447/447 F 275,800.00
ZZ
HARRIS 360 274,791.02
1
8748 EAST NO MORE ROAD 7.500 1,928.44
85
7.250 1,928.44
325,000.00
CAREFREE AZ 85377 1 07/27/95
21
3182569 05 09/01/95
0
3182569 O 08/01/25
0
1455604 447/447 F 397,600.00
ZZ
MCALONAN, 360 395,597.13
1
1708 JAMES PAYNE CIRCLE 7.750 2,848.46
80
7.500 2,848.46
497,000.00
MCLEAN VA 22101 1 07/31/95
00
3183154 05 09/01/95
0
3183154 O 08/01/25
0
1455605 447/447 F 238,500.00
ZZ
GULINO 360 237,885.33
1
665 DEERPATH 8.250 1,791.78
90
8.000 1,791.78
265,000.00
DEERFIELD IL 60015 1 07/10/95
10
3183968 03 09/01/95
0
3183968 O 08/01/25
0
1455606 447/447 F 420,000.00
ZZ
PHILLIPS 360 418,917.62
1
3338 LAKEKNOLL DR 8.250 3,155.32
80
8.000 3,155.32
525,000.00
NORTHBROOK IL 60062 1 07/07/95
00
3184089 05 09/01/95
0
3184089 O 08/01/25
0
1455607 447/447 F 245,000.00
ZZ
KERR 360 244,318.90
1
16 HILLDALE COURT 7.875 1,776.42
55
7.625 1,776.42
450,000.00
ORINDA CA 94563 5 07/05/95
00
3185955 05 09/01/95
0
3185955 O 08/01/25
0
1455608 447/447 F 400,000.00
ZZ
SCHWELIEN 360 399,168.73
1
6684 32ND PLACE NW 7.875 2,900.28
90
7.625 2,900.28
445,000.00
1
WASHINGTON DC 20015 1 08/28/95
21
3186727 05 10/01/95
0
3186727 O 09/01/25
0
1455609 447/447 F 440,000.00
ZZ
MILLER 360 437,900.35
1
2489 GROSS DAM ROAD 8.000 3,228.57
77
7.750 3,228.57
578,000.00
GOLDEN CO 80403 5 08/30/95
00
3187086 05 10/01/95
0
3187086 O 09/01/25
0
1455610 447/447 F 250,000.00
ZZ
CHEN 360 249,287.30
1
6841 FLEET STREET 7.750 1,791.04
76
7.500 1,791.04
330,500.00
FOREST HILLS NY 11375 1 07/27/95
00
3187089 05 09/01/95
0
3187089 O 08/01/25
0
1455611 447/447 F 247,500.00
BB
AKHAWALA 360 247,091.35
1
6 DUNNIGAN DRIVE 9.000 1,991.45
90
8.750 1,991.45
275,000.00
POMONA NY 10970 1 08/25/95
21
3187293 05 10/01/95
0
3187293 O 09/01/25
0
1455612 447/447 F 385,000.00
ZZ
HANKINS 360 384,239.33
1
33 FRENCH ROAD 8.125 2,858.62
69
7.875 2,858.62
565,000.00
SUDBURY MA 01776 1 08/31/95
00
3188842 05 10/01/95
0
3188842 O 09/01/25
0
1455613 447/447 F 252,700.00
ZZ
CIESNIEWSKI 360 252,260.62
1
4759 CLEARWATER LANE 8.750 1,988.00
95
8.500 1,988.00
266,000.00
NAPERVILLE IL 60564 1 08/18/95
10
3188947 05 10/01/95
0
3188947 O 09/01/25
0
1
1455614 447/447 F 304,000.00
ZZ
FEIGEN 360 303,383.97
1
4537 NORTH HERMITAGE AVENUE 8.000 2,230.65
80
7.750 2,230.65
380,000.00
CHICAGO IL 60640 1 08/15/95
00
3189089 05 10/01/95
0
3189089 O 09/01/25
0
1455615 447/447 F 299,000.00
ZZ
BEHNIAYTEHRANI 360 297,945.05
1
5256 WATSON STREET NW 7.750 2,142.08
80
7.500 2,142.08
375,000.00
WASHINGTON DC 20016 1 07/28/95
00
3189195 05 09/01/95
0
3189195 O 08/01/25
0
1455616 447/447 F 231,600.00
ZZ
NEILL 360 230,812.56
1
2000 REYNOLDS 8.000 1,699.40
80
7.750 1,699.40
289,500.00
COLLEYVILLE TX 76039 1 06/30/95
00
3189991 05 08/01/95
0
3189991 O 07/01/25
0
1455617 447/447 F 340,200.00
ZZ
MOORE 360 339,354.48
1
2700 UPPER GEORGETOWN LK RD 8.000 2,496.27
90
7.750 2,496.27
378,000.00
ANACONDA MT 59711 1 08/14/95
10
3190148 05 10/01/95
0
3190148 O 09/01/25
0
1455618 447/447 F 400,500.00
ZZ
ACKER 360 399,667.70
1
401 TURNBERRY CIRCLE 7.875 2,903.90
62
7.625 2,903.90
654,000.00
OXFORD MS 38655 2 08/01/95
00
3190510 05 10/01/95
0
3190510 O 09/01/25
0
1455619 447/447 F 300,000.00
ZZ
VOLPE 360 298,600.20
1
1
95 WESTWIND DRIVE 8.125 2,227.50
79
7.875 2,227.50
380,000.00
JAMESTOWN RI 02835 2 07/26/95
00
3190843 05 09/01/95
0
3190843 O 08/01/25
0
1455620 447/447 F 472,000.00
ZZ
SCHILLER 360 471,090.84
1
587 OAKSHIRE PLACE 8.250 3,545.98
75
8.000 3,545.98
630,000.00
ALAMO CA 94507 2 08/25/95
00
3191316 03 10/01/95
0
3191316 O 09/01/25
0
1455621 447/447 F 225,000.00
ZZ
SARANDINAKI 360 224,495.90
1
569 BLUEBERRY PLACE 7.500 1,573.24
57
7.250 1,573.24
400,000.00
FRANKLIN LAKES NJ 07417 1 08/31/95
00
3192883 05 10/01/95
0
3192883 O 09/01/25
0
1455622 447/447 F 630,000.00
ZZ
BATISTE 360 629,172.99
1
204 FIELDCREST COURT 8.125 4,677.73
75
7.875 4,677.73
840,000.00
DANVILLE CA 94506 2 09/21/95
00
3193666 03 11/01/95
0
3193666 O 10/01/25
0
1455623 447/447 F 300,000.00
ZZ
NODELMAN 360 298,927.54
1
20 HIGHGATE COURT 7.750 2,149.24
59
7.500 2,149.24
510,000.00
KENSINGTON CA 94708 1 06/26/95
00
3193777 05 08/01/95
0
3193777 O 07/01/25
0
1455624 447/447 F 248,610.00
ZZ
BARR 240 246,956.50
1
2617 BROOKSIDE CT 8.250 2,118.33
88
8.000 2,118.33
282,600.00
MCKINNEY TX 75070 1 08/08/95
14
3196007 03 09/01/95
0
1
3196007 O 08/01/15
0
1455625 447/447 F 450,000.00
ZZ
IRISH 360 448,780.07
1
17550 NINA STREET 8.000 3,301.95
55
7.750 3,301.95
820,000.00
OMAHA NE 68135 2 07/26/95
00
3196211 05 09/01/95
0
3196211 O 08/01/25
0
1455626 447/447 F 234,000.00
BB
TONEL 360 233,509.09
1
538 LONDON STREET 9.250 1,925.06
90
9.000 1,925.06
260,000.00
SAN FRANCISCO CA 94112 2 07/27/95
12
3196485 05 09/01/95
0
3196485 O 08/01/25
0
1455627 447/447 F 239,250.00
ZZ
MONNIG 360 238,567.98
1
14161 WILLOW DRIVE 7.750 1,714.02
80
7.500 1,714.02
299,074.00
CLIVE IA 50325 1 07/26/95
00
3196541 03 09/01/95
0
3196541 O 08/01/25
0
1455628 447/447 F 280,000.00
ZZ
BOYKEN 360 279,632.42
1
821 58TH STREET 8.125 2,079.00
80
7.875 2,079.00
350,000.00
WEST DES MOINES IA 50265 1 09/29/95
00
3196779 05 11/01/95
0
3196779 O 10/01/25
0
1455629 447/447 F 244,000.00
ZZ
DANOWSKI 360 243,505.56
1
15 KNIGHT LANE 8.000 1,790.39
80
7.750 1,790.39
305,000.00
MIDDLETOWN NJ 07701 1 08/10/95
00
3198695 05 10/01/95
0
3198695 O 09/01/25
0
1
1455630 447/447 F 495,000.00
ZZ
LEVY 360 493,891.01
1
1489 EAST 24TH STREET 7.500 3,461.11
62
7.250 3,461.11
800,000.00
BROOKLYN NY 11210 2 08/18/95
00
3200056 05 10/01/95
0
3200056 O 09/01/25
0
1455631 447/447 F 260,000.00
ZZ
ANIC 360 259,295.16
1
9616 SOUTH SANDWOOD LANE 8.000 1,907.79
80
7.750 1,907.79
325,000.00
OOSTBURG WI 53070 1 07/07/95
00
3200204 05 09/01/95
0
3200204 O 08/01/25
0
1455632 447/447 F 585,000.00
ZZ
GINSBURG 360 583,414.11
1
1814 NORTH BURLING 8.000 4,292.53
69
7.750 4,292.53
850,000.00
CHICAGO IL 60614 2 07/18/95
00
3200214 05 09/01/95
0
3200214 O 08/01/25
0
1455633 447/447 F 224,000.00
ZZ
FURLONG 360 223,522.66
1
1880 PARKVIEW DR NORTHEAST 7.750 1,604.76
80
7.500 1,604.76
280,000.00
TACOMA WA 98422 2 08/25/95
00
3200218 05 10/01/95
0
3200218 O 09/01/25
0
1455634 447/447 F 245,200.00
ZZ
RATHGEB 360 244,679.67
1
20 OLD SAWMILL ROAD 7.750 1,756.64
80
7.500 1,756.64
306,540.00
KINGSTON MA 02364 1 09/28/95
00
3200458 05 11/01/95
0
3200458 O 10/01/25
0
1455635 447/447 F 251,500.00
ZZ
VAINIKOS 360 250,662.32
1
11039 W 168TH ST 7.875 1,823.55
79
7.625 1,823.55
320,000.00
1
ORLAND PARK IL 60462 2 07/14/95
00
3200593 05 09/01/95
0
3200593 O 08/01/25
0
1455636 447/447 F 500,000.00
ZZ
HARTMAN 360 498,907.42
1
7 WEST GATE LANE 7.625 3,538.97
77
7.375 3,538.97
650,000.00
OLD FIELD NY 11733 1 08/15/95
00
3201091 05 10/01/95
0
3201091 O 09/01/25
0
1455637 447/447 F 260,000.00
ZZ
HALLEY 360 259,536.19
1
1306 SOUTH CRESCENT AVENUE 8.625 2,022.25
76
8.375 2,022.25
342,500.00
PARK RIDGE IL 60068 1 08/28/95
00
3201555 05 10/01/95
0
3201555 O 09/01/25
0
1455638 447/447 F 325,000.00
ZZ
WOLL 360 324,289.83
1
453 REMSENS LANE 7.625 2,300.33
53
7.375 2,300.33
620,000.00
UPPER BROOKVILL NY 11771 2 08/22/95
00
3202549 05 10/01/95
0
3202549 O 09/01/25
0
1455639 447/447 F 304,000.00
ZZ
COREY 360 303,318.93
1
10791 EAST FANFOL LANE 7.500 2,125.61
56
7.250 2,125.61
550,000.00
SCOTTSDALE AZ 85258 1 08/29/95
00
3202581 05 10/01/95
0
3202581 O 09/01/25
0
1455640 447/447 F 215,000.00
ZZ
WILBORN 360 214,402.31
1
562 CHESTNUT HILL COURT 7.875 1,558.90
79
7.625 1,558.90
275,000.00
WOODSTOCK GA 30188 2 07/24/95
00
3202769 03 09/01/95
0
3202769 O 08/01/25
0
1
1455641 447/447 F 370,000.00
ZZ
GALLO 360 369,250.24
1
121 MILLBROOK CIRCLE 8.000 2,714.93
74
7.750 2,714.93
505,000.00
NORWOOD NJ 07648 1 08/16/95
00
3202806 05 10/01/95
0
3202806 O 09/01/25
0
1455642 447/447 F 243,150.00
BB
ABEL 360 242,704.94
1
1637 DEL MAR ROAD 8.500 1,869.62
80
8.250 1,869.62
303,995.00
OCEANSIDE CA 92057 1 08/24/95
00
3203785 05 10/01/95
0
3203785 O 09/01/25
0
1455643 447/447 F 227,000.00
ZZ
POLUNSKY 360 226,368.73
1
8106 NUFY RIDGE 7.875 1,645.91
76
7.625 1,645.91
300,000.00
SAN ANTONIO TX 78209 2 09/05/95
00
3205323 05 09/01/95
0
3205323 O 08/01/25
0
1455644 447/447 F 218,650.00
ZZ
MCLENNAN 360 218,206.92
1
16 MICHAEL RD 8.000 1,604.38
71
7.750 1,604.38
310,000.00
WAYLAND MA 01778 5 08/17/95
00
3206388 05 10/01/95
0
3206388 O 09/01/25
0
1455645 447/447 F 228,000.00
ZZ
BARNARD 360 227,514.11
1
37 RAYNOR ROAD 7.750 1,633.42
95
7.500 1,633.42
240,000.00
MORRIS TWP, NJ 07960 1 09/18/95
21
3206549 05 11/01/95
0
3206549 O 10/01/25
0
1455646 447/447 F 229,700.00
ZZ
ROBERTS 360 229,011.69
1
1
1007 SUSSEX AVENUE 7.500 1,606.10
90
7.250 1,606.10
255,300.00
EAU CLAIRE WI 54703 1 07/28/95
11
3206634 05 09/01/95
0
3206634 O 08/01/25
0
1455647 447/447 F 305,900.00
BB
SUZUKI 360 304,859.94
1
2801 SEPULVEDA BLVD #92 8.000 2,244.59
90
7.750 2,244.59
339,900.00
TORRANCE CA 90503 1 06/28/95
21
3206691 01 08/01/95
0
3206691 O 07/01/25
0
1455648 447/447 F 248,500.00
ZZ
MANOLIS 360 236,303.19
1
1932 CRAIG AVENUE 8.250 1,866.90
71
8.000 1,866.90
350,000.00
ALTADENA CA 91001 2 05/10/93
00
3206944 05 07/01/93
0
3206944 O 06/01/23
0
1455649 447/447 F 288,750.00
ZZ
WILLIAMS, 360 282,140.30
1
17374 EL RANCHO AVENUE 8.000 2,118.75
75
7.750 2,118.75
385,000.00
MONTE SERENO CA 95030 2 06/01/93
00
3206955 05 08/01/93
0
3206955 O 07/01/23
0
1455650 447/447 F 230,000.00
ZZ
PADILLA 360 224,644.95
1
909 LINDEN AVENUE 7.750 1,647.75
75
7.500 1,647.75
310,000.00
BURLINGAME CA 94010 5 05/25/93
00
3207001 05 07/01/93
0
3207001 O 06/01/23
0
1455651 447/447 F 350,000.00
ZZ
MCGANNON 360 335,102.46
1
823 CATHEDRAL DRIVE 7.625 2,477.28
74
7.375 2,477.28
473,000.00
APTOS CA 95003 5 07/19/93
00
3207002 05 09/01/93
0
1
3207002 O 08/01/23
0
1455652 447/447 F 260,000.00
ZZ
PINO 360 252,812.17
1
176 15TH AVENUE 7.750 1,862.67
80
7.500 1,862.67
325,000.00
SAN FRANCISCO CA 94118 2 06/23/93
00
3207012 01 08/01/93
0
3207012 O 07/01/23
0
1455653 447/447 F 350,000.00
ZZ
SCHWARTZ 360 338,771.10
1
740 WESTHOLME AVENUE 7.625 2,477.28
48
7.375 2,477.28
730,000.00
LOS ANGELES CA 90024 2 07/20/93
00
3207044 05 09/01/93
0
3207044 O 08/01/23
0
1455654 447/447 F 540,000.00
ZZ
HAWKINS 360 528,171.24
1
1343 LUNA VISTA DRIVE 7.875 3,915.37
75
7.625 3,915.37
720,000.00
PACIFIC PALISAD CA 90272 5 06/23/93
00
3207046 05 08/01/93
0
3207046 O 07/01/23
0
1455655 447/447 F 284,000.00
ZZ
BITTENBENDER 360 274,988.99
1
6858 THE TURN 7.625 2,010.13
79
7.375 2,010.13
360,000.00
OAKLAND CA 94611 5 08/25/93
00
3207058 05 10/01/93
0
3207058 O 09/01/23
0
1455656 447/447 F 246,000.00
ZZ
HUYNH 360 240,690.04
1
1080 RIDGEMONT DRIVE 7.750 1,762.37
80
7.500 1,762.37
310,000.00
MILPITAS CA 95035 2 07/14/93
00
3207066 03 09/01/93
0
3207066 O 08/01/23
0
1
1455657 447/447 F 331,200.00
ZZ
REDMAN 360 323,593.13
1
2768 MOHAWK CIRCLE 7.625 2,344.21
90
7.375 2,344.21
368,000.00
SAN RAMON CA 94583 1 06/08/93
10
3207070 07 08/01/93
0
3207070 O 07/01/23
0
1455658 447/447 F 227,000.00
ZZ
PENDLETON 360 221,715.00
1
749 WILDWOOD LANE 7.750 1,626.26
64
7.500 1,626.26
355,000.00
PALO ALTO CA 94303 2 05/11/93
00
3207078 05 07/01/93
0
3207078 O 06/01/23
0
1455659 447/447 F 309,000.00
ZZ
TSCHABOLD 360 300,013.64
1
839 LILY AVENUE 7.625 2,187.08
74
7.375 2,187.08
420,000.00
CUPERTINO CA 95014 2 07/21/93
00
3207084 05 09/01/93
0
3207084 O 08/01/23
0
1455660 447/447 F 327,200.00
ZZ
COOPER 360 319,302.19
1
4161 KILT CIRCLE 7.750 2,344.10
80
7.500 2,344.10
409,000.00
EL DORADO HILLS CA 95762 1 04/12/93
00
3207088 03 06/01/93
0
3207088 O 05/01/23
0
1455661 447/447 F 300,800.00
ZZ
LIGHTBOURNE 360 294,151.31
1
1290 DAY VALLEY ROAD 7.625 2,129.04
79
7.375 2,129.04
382,000.00
APTOS CA 95003 2 07/26/93
00
3207093 05 09/01/93
0
3207093 O 08/01/23
0
1455662 447/447 F 283,000.00
ZZ
LERRIGO 360 276,651.99
1
1026 RISPIN DRIVE 7.750 2,027.45
72
7.500 2,027.45
396,000.00
1
OAKLAND CA 94705 2 06/23/93
00
3207100 05 08/01/93
0
3207100 O 07/01/23
0
1455663 447/447 F 280,000.00
ZZ
CARVALHO 360 273,569.06
1
16203 EAST RIDGEVIEW LANE 7.625 1,981.82
80
7.375 1,981.82
350,000.00
LA MIRADA CA 90638 2 06/17/93
00
3207116 03 08/01/93
0
3207116 O 07/01/23
0
1455664 447/447 F 252,000.00
ZZ
MAX 360 246,169.34
1
205 STAPP ROAD 7.250 1,719.08
80
7.000 1,719.08
315,000.00
BOULDER CREEK CA 95006 5 08/05/93
00
3207160 05 10/01/93
0
3207160 O 09/01/23
0
1455665 447/447 F 235,000.00
ZZ
URREA 360 229,344.19
1
11409 CASHMERE STREET 7.250 1,603.11
53
7.000 1,603.11
450,000.00
LOS ANGELES CA 90049 2 07/20/93
00
3207170 05 09/01/93
0
3207170 O 08/01/23
0
1455666 447/447 F 300,000.00
ZZ
COTTRILL 360 293,432.69
1
1927 SKYCREST DRIVE 7.250 2,046.53
75
7.000 2,046.53
400,000.00
FULLERTON CA 92631 2 09/03/93
00
3207186 05 11/01/93
0
3207186 O 10/01/23
0
1455667 447/447 F 371,000.00
ZZ
NOAH 360 362,678.15
1
15231/4 NORTH DOHENY DRIVE 7.750 2,657.89
70
7.500 2,657.89
530,000.00
LOS ANGELES CA 90049 1 06/18/93
00
3207188 05 08/01/93
0
3207188 O 07/01/23
0
1
1455668 447/447 F 215,000.00
ZZ
HUBER 360 210,358.99
1
6442 AMBER ROAD 7.750 1,540.29
90
7.500 1,540.29
241,000.00
RANCHO CUCAMONG CA 91701 2 07/06/93
04
3207197 05 09/01/93
0
3207197 O 08/01/23
0
1455669 447/447 F 380,000.00
ZZ
GUPTA 360 371,334.75
1
18460 FARMINGTON WAY 7.250 2,592.27
68
7.000 2,592.27
565,000.00
CUPERTINO CA 95014 2 08/03/93
00
3207204 03 10/01/93
0
3207204 O 09/01/23
0
1455670 447/447 F 525,000.00
ZZ
SCHAPIRO 360 513,223.93
1
3880 RALSTON AVENUE 7.750 3,761.16
62
7.500 3,761.16
860,000.00
HILLSBOROUGH CA 94010 2 06/17/93
00
3207207 05 08/01/93
0
3207207 O 07/01/23
0
1455672 447/447 F 226,700.00
ZZ
WAKABAYASHI 360 217,091.10
1
143 MEADOWLAND DRIVE 7.750 1,624.11
70
7.500 1,624.11
326,715.00
MILPTAS CA 95035 1 04/13/93
00
3207218 07 06/01/93
0
3207218 O 05/01/23
0
1455673 447/447 F 253,000.00
ZZ
ORIENT 360 240,000.31
1
17032 MAYALL STREET 7.250 1,751.91
80
7.000 1,751.91
320,000.00
NORTHRIDGE CA 91325 2 09/17/93
00
3207220 05 11/01/93
0
3207220 O 10/01/23
0
1455674 447/447 F 400,000.00
ZZ
YU 360 391,238.19
1
1
101 LOMBARD STREET 7.875 2,900.28
67
7.625 2,900.28
600,000.00
SAN FRANCISCO CA 94111 2 06/15/93
00
3207225 01 08/01/93
0
3207225 O 07/01/23
0
1455675 447/447 F 330,000.00
ZZ
KU 360 322,172.07
1
5309 IVAFERN LANE 7.250 2,251.18
63
7.000 2,251.18
530,000.00
LACANADA-FLINTR CA 91011 1 07/22/93
00
3207232 05 09/01/93
0
3207232 O 08/01/23
0
1455676 447/447 F 256,000.00
ZZ
MARKER 360 250,688.92
1
1392 RAMON DRIVE 7.750 1,834.02
80
7.500 1,834.02
320,000.00
SUNNYVALE CA 94087 5 08/02/93
00
3207237 05 10/01/93
0
3207237 O 09/01/23
0
1455677 447/447 F 298,000.00
ZZ
GARRISON 360 283,890.50
1
2905 ADELINE DRIVE 7.375 2,058.21
56
7.125 2,058.21
540,000.00
BURLINGAME CA 94010 2 08/03/93
00
3207265 05 10/01/93
0
3207265 O 09/01/23
0
1455678 447/447 F 320,000.00
ZZ
LIANG 360 312,757.55
1
634 WELLSBURY WAY 7.500 2,237.49
79
7.250 2,237.49
408,000.00
PALO ALTO CA 94306 1 07/13/93
00
3207267 05 09/01/93
0
3207267 O 08/01/23
0
1455679 447/447 F 650,000.00
BB
SCHLOM 360 648,366.96
1
25475 RODEO CIRCLE 8.375 4,940.47
78
8.125 4,940.47
835,000.00
LAGUNA HILLS CA 92653 1 07/25/95
00
3207270 03 09/01/95
0
1
3207270 O 08/01/25
0
1455680 447/447 F 230,000.00
ZZ
SHEA 360 224,462.62
1
2770 BASELINE AVENUE 7.375 1,588.56
51
7.125 1,588.56
455,000.00
SANTA YNEZ CA 93460 1 06/17/93
00
3207272 05 08/01/93
0
3207272 O 07/01/23
0
1455681 447/447 F 210,500.00
ZZ
CHEW 360 205,735.80
1
2251 CUESTA DRIVE 7.500 1,471.85
90
7.250 1,471.85
233,900.00
MILPITAS CA 95035 1 07/22/93
04
3207276 07 09/01/93
0
3207276 O 08/01/23
0
1455682 447/447 F 277,000.00
ZZ
SCARGLE 360 270,687.11
1
800 EAST CHARLESTON ROAD NO 19 7.375 1,913.17
77
7.125 1,913.17
360,000.00
PALO ALTO CA 94303 2 08/03/93
00
3207284 01 10/01/93
0
3207284 O 09/01/23
0
1455683 447/447 F 240,000.00
ZZ
CHEN 360 234,654.37
1
947 LYNNMERE DR 7.375 1,657.62
45
7.125 1,657.62
545,000.00
THOUSAND OAKS CA 91360 2 08/02/93
00
3207292 03 10/01/93
0
3207292 O 09/01/23
0
1455684 447/447 F 252,000.00
ZZ
SARKARATI 360 243,263.90
1
2602 EAST VISTA POINT DRIVE 7.375 1,740.50
80
7.125 1,740.50
315,000.00
ORANGE CA 92677 2 10/04/93
00
3207305 05 12/01/93
0
3207305 O 11/01/23
0
1
1455685 447/447 F 237,500.00
ZZ
ASHLEY 360 231,297.24
1
6129 CECALA DRIVE 7.375 1,640.35
80
7.125 1,640.35
297,500.00
SAN JOSE CA 95120 2 08/02/93
00
3207314 05 10/01/93
0
3207314 O 09/01/23
0
1455686 447/447 F 412,000.00
ZZ
ROBERTS 360 403,629.92
1
5 BEAR LANE 7.375 2,845.59
77
7.125 2,845.59
535,000.00
LATTINGTOWN NY 11560 1 11/16/93
00
3207331 05 01/01/94
0
3207331 O 12/01/23
0
1455687 447/447 F 350,000.00
ZZ
BRUNELLE 360 326,333.37
1
7110 LA PRESA DRIVE 7.875 2,537.74
60
7.625 2,537.74
590,000.00
LOS ANGELES CA 90068 1 05/13/93
00
3207335 05 07/01/93
0
3207335 O 06/01/23
0
1455688 447/447 F 362,000.00
ZZ
LIN 360 353,466.36
1
981 KELLY COURT 7.875 2,624.75
65
7.625 2,624.75
560,000.00
LAFAYETTE CA 94549 5 04/22/93
00
3207344 05 06/01/93
0
3207344 O 05/01/23
0
1455689 447/447 F 234,000.00
ZZ
HACKNEY 360 228,577.08
1
1217 42ND STREET 7.375 1,616.18
47
7.125 1,616.18
500,000.00
SACRAMENTO CA 95819 2 07/26/93
00
3207346 05 09/01/93
0
3207346 O 08/01/23
0
1455690 447/447 F 372,700.00
ZZ
BALLARD 360 337,782.28
1
512 PATRICIA 7.375 2,574.15
79
7.125 2,574.15
472,000.00
1
PALO ALTO CA 94303 2 08/16/93
00
3207358 05 10/01/93
0
3207358 O 09/01/23
0
1455691 447/447 F 350,000.00
ZZ
ROBERTS 360 341,255.83
1
520 PALM AVENUE 7.375 2,417.36
70
7.125 2,417.36
505,000.00
LOS ALTOS CA 94022 5 05/18/93
00
3207364 05 07/01/93
0
3207364 O 06/01/23
0
1455692 447/447 F 350,000.00
ZZ
PIERCE 360 340,192.47
1
211 TUMBLEWEED COURT 7.500 2,447.25
77
7.250 2,447.25
460,000.00
CLAYTON CA 94517 5 05/17/93
00
3207399 05 07/01/93
0
3207399 O 06/01/23
0
1455693 447/447 F 637,000.00
ZZ
BLOOM 360 623,142.57
1
5100 SHOSHONE AVENUE 7.500 4,454.00
75
7.250 4,454.00
850,000.00
ENCINO CA 91316 5 08/03/93
00
3207409 05 10/01/93
0
3207409 O 09/01/23
0
1455694 447/447 F 840,000.00
ZZ
BEAUMONT 360 820,989.00
1
6 BUCKWHEAT COURT 7.500 5,873.40
70
7.250 5,873.40
1,200,000.00
TIBURON CA 94920 5 07/09/93
00
3207415 05 09/01/93
0
3207415 O 08/01/23
0
1455695 447/447 F 500,000.00
ZZ
NG 360 488,760.24
3
1554 VALLEJO STREET 8.125 3,712.49
65
7.875 3,712.49
770,000.00
SAN FRANCISCO CA 94109 2 04/21/93
00
3207452 05 06/01/93
0
3207452 O 05/01/23
0
1
1455696 447/447 F 320,000.00
ZZ
PARK 360 312,517.09
1
1951 SCENIC RIDGE DRIVE 7.500 2,237.49
72
7.250 2,237.49
450,000.00
CHINO HILLS CA 91709 2 07/14/93
00
3207463 05 09/01/93
0
3207463 O 08/01/23
0
1455697 447/447 F 232,000.00
ZZ
STANDRIDGE 360 226,952.96
1
2009 WEBBER AVENUE 7.500 1,622.18
80
7.250 1,622.18
290,000.00
YOUNTVILLE CA 94599 5 08/20/93
00
3207466 03 10/01/93
0
3207466 O 09/01/23
0
1455698 447/447 F 230,400.00
ZZ
RATNER 360 224,981.68
1
810 GORDON AVENUE 7.500 1,610.99
80
7.250 1,610.99
288,000.00
BELMONT CA 94002 2 06/22/93
00
3207474 05 08/01/93
0
3207474 O 07/01/23
0
1455699 447/447 F 256,000.00
ZZ
ERIKSON 360 249,680.10
1
2501 SHADOW MOUNTAIN COURT 7.500 1,789.99
80
7.250 1,789.99
320,000.00
SAN RAMON CA 94583 5 08/09/93
00
3207489 05 10/01/93
0
3207489 O 09/01/23
0
1455700 447/447 F 350,000.00
ZZ
SIMS 360 349,290.75
1
31 PROSPECT AVENUE 8.000 2,568.18
50
7.750 2,568.18
700,000.00
LARCHMONT NY 10538 5 08/07/95
00
3207490 05 10/01/95
0
3207490 O 09/01/25
0
1455701 447/447 F 522,000.00
ZZ
KIRSCHNER 360 509,774.33
1
1
528 OAKSHIRE PLACE 7.500 3,649.90
80
7.250 3,649.90
652,500.00
ALAMO CA 94507 1 07/19/93
00
3207496 05 09/01/93
0
3207496 O 08/01/23
0
1455702 447/447 F 276,800.00
ZZ
YOON 360 269,373.75
1
9452 THUNDERBIRD PLACE 7.500 1,935.43
80
7.250 1,935.43
346,000.00
SAN RAMON CA 94583 1 07/28/93
00
3207502 05 09/01/93
0
3207502 O 08/01/23
0
1455703 447/447 F 608,000.00
ZZ
LEHTOLA 360 594,176.40
3
161-163 DIVISADERO STREET 7.875 4,408.42
60
7.625 4,408.42
1,020,000.00
SAN FRANCISCO CA 94117 2 05/27/93
00
3207508 05 07/01/93
0
3207508 O 06/01/23
0
1455704 447/447 F 92,300.00
ZZ
BROWNELLE, 360 77,642.49
1
134 WHITE PINE DRIVE 7.750 661.25
70
7.500 661.25
131,900.00
TAUNTON MA 02780 1 10/08/93
00
3207536 05 12/01/93
0
3207536 O 11/01/23
0
1455705 447/447 F 117,600.00
ZZ
AHERN 360 100,275.41
1
171 SKYVIEW DRIVE 7.875 814.36
80
7.625 814.36
147,000.00
CROMWELL CT 06416 1 07/15/88
00
3207543 01 09/01/88
0
3207543 O 08/01/18
0
1455706 447/447 F 454,400.00
ZZ
ROACH 360 452,931.14
1
6801 CROOKED STICK COURT 8.250 3,413.76
75
8.000 3,413.76
605,880.00
FORT WORTH TX 76132 1 06/12/95
00
3209109 05 08/01/95
0
1
3209109 O 07/01/25
0
1455707 447/447 F 295,200.00
ZZ
MARTIN 360 294,616.74
1
9361 OLYMPIA DRIVE 8.125 2,191.86
80
7.875 2,191.86
369,000.00
EDEN PRAIRIE MN 55347 1 08/31/95
00
3209722 05 10/01/95
0
3209722 O 09/01/25
0
1455708 447/447 F 280,000.00
ZZ
HARDING 360 279,474.22
1
9540 W. PEBBLE BROOK LANE 8.375 2,128.21
41
8.125 2,128.21
695,000.00
BOISE ID 83703 1 08/25/95
00
3210593 03 10/01/95
0
3210593 O 09/01/25
0
1455709 447/447 F 229,500.00
ZZ
HAMLYN 360 229,090.58
1
864 HIDDEN VALLEY DRIVE 8.625 1,785.03
90
8.375 1,785.03
255,000.00
WATERTOWN SD 57201 1 08/16/95
10
3211088 05 10/01/95
0
3211088 O 09/01/25
0
1455710 447/447 F 352,000.00
ZZ
CIPOLLA 360 351,249.83
1
1930 NORTH SANTA ANITA AVE 7.750 2,521.78
80
7.500 2,521.78
440,000.00
LOS ANGELES CA 91024 2 08/18/95
00
3211506 05 10/01/95
0
3211506 O 09/01/25
0
1455711 447/447 F 203,151.00
ZZ
STELLING, 360 202,728.81
1
4525 SOUTHERN AVENUE 7.875 1,472.99
76
7.625 1,472.99
269,000.00
HIGHLAND PARK TX 75205 1 08/24/95
00
3211558 05 10/01/95
0
3211558 O 09/01/25
0
1
1455712 447/447 F 255,600.00
ZZ
JOHNSON 360 255,094.97
1
2771 EAST AMBERWICK LANE 8.125 1,897.83
90
7.875 1,897.83
284,000.00
SANDY UT 84093 1 08/21/95
21
3211681 05 10/01/95
0
3211681 O 09/01/25
0
1455713 447/447 F 503,000.00
ZZ
GARLOCK 360 492,507.01
1
30031 HILLSIDE TERRACE 8.125 3,734.76
68
7.875 3,734.76
742,000.00
SAN JUAN CPSTRN CA 92675 2 07/12/93
00
3212175 07 09/01/93
0
3212175 O 08/01/23
0
1455714 447/447 F 355,000.00
ZZ
SCOTT 360 338,704.68
1
1854 VALLEJO 8.000 2,604.86
70
7.750 2,604.86
510,000.00
SAN FRANCISCO CA 94123 2 06/21/93
00
3212212 01 08/01/93
0
3212212 O 07/01/23
0
1455715 447/447 F 300,000.00
ZZ
SCHWARTZ 360 292,647.66
1
1937 CORRALITOS AVENUE 8.000 2,201.29
90
7.750 2,201.29
334,000.00
SAN LUIS OBISPO CA 93401 1 07/30/93
04
3212221 05 09/01/93
0
3212221 O 08/01/23
0
1455716 447/447 F 375,000.00
ZZ
HERRICK 360 367,095.81
1
7 ROXANNE LANE 7.875 2,719.01
75
7.625 2,719.01
500,000.00
LAFAYETTE CA 94549 5 07/06/93
00
3212269 05 09/01/93
0
3212269 O 08/01/23
0
1455717 447/447 F 510,000.00
ZZ
PALMER 360 494,228.80
1
2740 WOODSIDE ROAD 7.875 3,697.85
70
7.625 3,697.85
730,000.00
1
WOODSIDE CA 94062 2 04/28/93
00
3212281 05 06/01/93
0
3212281 O 05/01/23
0
1455718 447/447 F 372,500.00
ZZ
BURKE 360 363,078.70
1
250 22ND STREET 7.875 2,700.89
60
7.625 2,700.89
630,000.00
DEL MAR CA 92014 2 05/18/93
00
3212286 05 07/01/93
0
3212286 O 06/01/23
0
1455719 447/447 F 272,000.00
ZZ
LATHAM 360 266,042.02
1
1994 WILLIAM DRIVE 7.875 1,972.19
78
7.625 1,972.19
350,000.00
PENNGROVE CA 94951 2 06/22/93
00
3212292 05 08/01/93
0
3212292 O 07/01/23
0
1455720 447/447 F 205,000.00
ZZ
SLACK 360 200,679.08
1
15581 LOMA VISTA AVENUE 7.875 1,486.39
64
7.625 1,486.39
325,000.00
LOS GATOS CA 95032 2 07/13/93
00
3212302 05 09/01/93
0
3212302 O 08/01/23
0
1455721 447/447 F 550,000.00
ZZ
O'BRIEN 360 537,952.65
1
1811 CALLE ARROYO 7.875 3,987.88
68
7.625 3,987.88
820,000.00
DIABLO CA 94528 2 06/22/93
00
3212323 05 08/01/93
0
3212323 O 07/01/23
0
1455722 447/447 F 273,000.00
ZZ
DONDOYANO 360 265,439.45
1
5661 CROW LANE 7.875 1,979.44
76
7.625 1,979.44
360,000.00
SAN JOSE CA 95123 2 06/01/93
00
3212328 05 08/01/93
0
3212328 O 07/01/23
0
1
1455723 447/447 F 225,000.00
ZZ
FEINBERG 360 208,549.87
1
952 MIDWAY DRIVE 7.625 1,602.34
55
7.375 1,602.34
415,000.00
WOODMERE NY 11598 1 12/16/88
00
3212382 05 02/01/89
0
3212382 O 01/01/19
0
1455724 447/447 F 380,000.00
ZZ
LAMSON 360 370,528.36
1
1179 GLEN ROAD 7.625 2,689.62
73
7.375 2,689.62
525,000.00
LAFAYETTE CA 94549 2 07/20/93
00
3212401 05 09/01/93
0
3212401 O 08/01/23
0
1455725 447/447 F 272,000.00
ZZ
SLAVENS 360 265,982.81
1
1541 CHABLIS CIRCLE 7.625 1,925.20
76
7.375 1,925.20
360,000.00
ST. HELENA CA 94574 2 07/14/93
00
3212408 05 09/01/93
0
3212408 O 08/01/23
0
1455726 447/447 F 129,500.00
ZZ
CARLONE 360 124,119.44
1
136 WARNER ROAD 7.625 916.60
70
7.375 916.60
185,000.00
BERLIN CT 06037 2 10/22/93
00
3212443 05 12/01/93
0
3212443 O 11/01/23
0
1455727 447/447 F 203,250.00
ZZ
LEONARDI 360 198,428.49
1
318 ROSS DRIVE 7.250 1,386.53
75
7.000 1,386.53
271,000.00
MILL VALLEY CA 94941 1 07/15/93
00
3212479 05 09/01/93
0
3212479 O 08/01/23
0
1455728 447/447 F 133,000.00
ZZ
NICHOLS 360 78,278.23
1
1
8512 HALLET ST 7.645 613.41
80
7.395 613.41
166,250.00
LENEXA KS 66215 1 03/08/90
00
3212487 05 05/01/90
0
3212487 O 04/01/20
0
1455729 447/447 F 347,750.00
ZZ
BARRY 360 339,820.13
1
15444 DE PAUW STREET 7.250 2,372.27
65
7.000 2,372.27
535,000.00
PACIFIC PALISAD CA 90272 1 08/24/93
00
3212496 05 10/01/93
0
3212496 O 09/01/23
0
1455730 447/447 F 300,000.00
ZZ
YEE 360 293,704.75
1
2419 30TH AVENUE 7.250 2,046.53
69
7.000 2,046.53
440,000.00
SAN FRANCISCO CA 94116 2 10/14/93
00
3212500 05 12/01/93
0
3212500 O 11/01/23
0
1455731 447/447 F 256,000.00
ZZ
GOLDSTEIN 360 250,257.55
1
84 PINECREST DRIVE 7.750 1,834.02
80
7.500 1,834.02
320,000.00
WOODCLIFF LAKE NJ 07675 1 06/18/93
00
3212507 05 08/01/93
0
3212507 O 07/01/23
0
1455732 447/447 F 616,000.00
ZZ
LAI 360 602,515.08
1
8 ARISTOTLE 7.250 4,202.21
70
7.000 4,202.21
880,000.00
IRVINE CA 92715 1 09/08/93
00
3212513 03 11/01/93
0
3212513 O 10/01/23
0
1455733 447/447 F 225,000.00
ZZ
HAHN 360 220,278.39
1
33251 SANDY BEACH PLACE 7.250 1,534.90
75
7.000 1,534.90
300,000.00
DANA POINT CA 92629 2 10/14/93
00
3212515 03 12/01/93
0
1
3212515 O 11/01/23
0
1455734 447/447 F 243,000.00
ZZ
BOWDEN 360 237,900.86
1
15701 EAST CRESTRIDGE CIRCLE 7.250 1,657.69
90
7.000 1,657.69
270,000.00
AURORA CO 80015 2 10/14/93
11
3212520 03 12/01/93
0
3212520 O 11/01/23
0
1455735 447/447 F 145,000.00
ZZ
SCALA 360 134,992.38
1
322A KINGS HIGHWAY 7.750 1,045.29
62
7.500 1,045.29
235,000.00
VALLEY COTTAGE NY 10989 1 03/01/89
00
3212522 05 04/01/89
0
3212522 O 03/01/19
0
1455736 447/447 F 240,000.00
ZZ
BRAAS 360 231,329.87
1
22536 WOODCREST CIRCLE 7.250 1,637.22
86
7.000 1,637.22
280,000.00
LAKE FOREST CA 92630 2 09/09/93
11
3212533 07 11/01/93
0
3212533 O 10/01/23
0
1455737 447/447 F 279,100.00
ZZ
OSUGI 360 272,602.05
1
886 KRISTEN RIDGE WAY 7.750 1,999.51
80
7.500 1,999.51
348,900.00
MILPITAS CA 95035 1 05/03/93
00
3212543 05 07/01/93
0
3212543 O 06/01/23
0
1455738 447/447 F 299,000.00
ZZ
SHVARTSMAN 360 292,181.75
1
2330 29TH AVENUE 7.250 2,039.71
73
7.000 2,039.71
410,000.00
SAN FRANCISCO CA 94116 2 08/03/93
00
3212549 05 10/01/93
0
3212549 O 09/01/23
0
1
1455739 447/447 F 252,400.00
ZZ
HAZLETT 360 246,412.90
1
28522 SILVERTON DRIVE 7.250 1,721.81
80
7.000 1,721.81
315,500.00
LAGUNA NIGUEL CA 92677 1 07/12/93
00
3212550 03 09/01/93
0
3212550 O 08/01/23
0
1455740 447/447 F 321,750.00
ZZ
FOGARTY 360 309,287.61
1
676 SOUTH EL MOLINO AVENUE 7.750 2,305.06
90
7.500 2,305.06
357,500.00
PASADENA CA 91106 1 05/19/93
11
3212555 05 07/01/93
0
3212555 O 06/01/23
0
1455741 447/447 F 300,000.00
ZZ
ENGSTROM 360 293,524.22
1
1701 NEWPORT HILLS DRIVE WES 7.750 2,149.24
48
7.500 2,149.24
625,000.00
NEWPORT BEACH CA 92660 2 07/21/93
00
3212557 07 09/01/93
0
3212557 O 08/01/23
0
1455742 447/447 F 325,000.00
ZZ
GREGORY 360 317,884.86
1
105 TRAILS END ROAD 7.250 2,217.07
74
7.000 2,217.07
443,000.00
MAMMOTH LAKES CA 93546 2 09/13/93
00
3212566 05 11/01/93
0
3212566 O 10/01/23
0
1455743 447/447 F 318,750.00
ZZ
CHIN 360 311,485.09
1
1461 LAURENITA WAY 7.750 2,283.56
75
7.500 2,283.56
425,000.00
ALAMO CA 94507 5 07/13/93
00
3212569 05 09/01/93
0
3212569 O 08/01/23
0
1455744 447/447 F 551,200.00
ZZ
MOSKOW 360 539,633.49
1
15 CORANADO POINTE 7.250 3,760.16
80
7.000 3,760.16
689,000.00
1
RAGUNA NIGUEL CA 92677 1 10/12/93
00
3212571 07 12/01/93
0
3212571 O 11/01/23
0
1455745 447/447 F 248,000.00
ZZ
TAWA 360 242,843.89
1
17523 PURCHE AVENUE 7.625 1,755.33
78
7.375 1,755.33
322,000.00
TORRANCE CA 90504 2 09/17/93
00
3212575 05 11/01/93
0
3212575 O 10/01/23
0
1455746 447/447 F 300,000.00
ZZ
LJUBIC 360 292,766.45
1
2325 VISTA ROYAL 7.750 2,149.24
65
7.500 2,149.24
465,000.00
VISTA CA 92084 2 08/06/93
00
3212576 05 10/01/93
0
3212576 O 09/01/23
0
1455747 447/447 F 431,200.00
T
AKL 360 422,134.23
1
169 SANDCASTLE DRIVE 7.250 2,941.55
80
7.000 2,941.55
539,000.00
COROLLA NC 27927 1 11/01/93
00
3212579 07 12/01/93
0
3212579 O 11/01/23
0
1455748 447/447 F 552,500.00
ZZ
ANTOINE 360 540,906.41
1
2084 RIMCREST DRIVE 7.250 3,769.02
65
7.000 3,769.02
850,000.00
GLENDALE CA 91207 2 10/15/93
00
3212581 05 12/01/93
0
3212581 O 11/01/23
0
1455749 447/447 F 318,000.00
ZZ
CRAIG 360 311,135.81
1
4030 DEL ROSA AVENUE 7.750 2,278.19
73
7.500 2,278.19
440,000.00
SAN BERNARDINO CA 92404 2 07/29/93
00
3212582 05 09/01/93
0
3212582 O 08/01/23
0
1
1455750 447/447 F 386,000.00
ZZ
LEESON 360 378,430.91
1
1944 WILSON COURT 7.625 2,732.08
80
7.375 2,732.08
482,500.00
MOUNTAIN VIEW CA 94040 1 10/14/93
00
3212583 05 12/01/93
0
3212583 O 11/01/23
0
1455751 447/447 F 114,000.00
ZZ
MARESCA 360 111,442.59
1
1008 HAMPSTEAD ROAD 7.750 816.72
69
7.500 816.72
166,000.00
HAVERFORD PA 19096 2 07/05/93
00
3212589 05 08/01/93
0
3212589 O 07/01/23
0
1455753 447/447 F 275,000.00
ZZ
HATCHER 360 268,683.93
1
8117 NORTH FOWLER AVENUE 7.625 1,946.43
69
7.375 1,946.43
400,000.00
CLOVIS CA 93612 5 06/17/93
00
3212593 05 08/01/93
0
3212593 O 07/01/23
0
1455754 447/447 F 286,400.00
ZZ
RATINOV 360 280,389.21
1
2205 INWOOD DRIVE 7.250 1,953.76
56
7.000 1,953.76
515,000.00
HOUSTON TX 77019 2 10/25/93
00
3212594 03 12/01/93
0
3212594 O 11/01/23
0
1455755 447/447 F 380,000.00
ZZ
EDENS 360 358,382.03
1
16192 BIMINI LANE 7.625 2,689.62
80
7.375 2,689.62
475,000.00
HUNTINGTON BEAC CA 92649 2 09/02/93
00
3212601 03 11/01/93
0
3212601 O 10/01/23
0
1455756 447/447 F 376,000.00
ZZ
LETTUNICH 360 367,426.03
1
1
153 LAS COLINAS 7.250 2,564.98
80
7.000 2,564.98
470,000.00
WATSONVILLE CA 95076 1 08/24/93
00
3212606 05 10/01/93
0
3212606 O 09/01/23
0
1455757 447/447 F 205,000.00
ZZ
BRENNAN 360 200,401.53
1
1447 WHEATSHEAF ROAD 7.750 1,468.65
73
7.500 1,468.65
284,000.00
YARDLEY PA 19067 2 06/11/93
00
3212608 05 08/01/93
0
3212608 O 07/01/23
0
1455758 447/447 F 268,000.00
ZZ
SIN 360 252,396.18
1
2918 SORRENTO WAY 7.750 1,919.98
80
7.500 1,919.98
335,000.00
UNION CITY CA 94587 2 07/15/93
00
3212609 05 09/01/93
0
3212609 O 08/01/23
0
1455759 447/447 F 266,400.00
ZZ
GORTON 360 260,740.41
1
688 SIERRA POINT ROAD 7.625 1,885.56
78
7.375 1,885.56
345,000.00
BRISBANE CA 94005 5 08/03/93
00
3212611 05 10/01/93
0
3212611 O 09/01/23
0
1455760 447/447 F 266,000.00
ZZ
BRISENO 360 260,176.99
1
640 SOUTH LONDERRY LANE 7.250 1,814.59
70
7.000 1,814.59
380,000.00
ANAHEIM CA 92807 2 09/20/93
00
3212614 03 11/01/93
0
3212614 O 10/01/23
0
1455762 447/447 F 322,500.00
ZZ
LUNDRIGAN 360 151,182.11
1
2168 CITRON ROAD 7.625 2,282.63
75
7.375 2,282.63
430,000.00
LA HABRA HEIGHT CA 90631 1 08/02/93
00
3212621 05 10/01/93
0
1
3212621 O 09/01/23
0
1455763 447/447 F 262,000.00
ZZ
MAROVISH 360 256,564.58
1
2000 VISTA AVENUE 7.750 1,877.00
61
7.500 1,877.00
430,000.00
SIERRA MADRE CA 91006 2 08/11/93
00
3212623 05 10/01/93
0
3212623 O 09/01/23
0
1455764 447/447 F 234,000.00
ZZ
CHEEK 360 229,089.54
1
8016 WINGATE DRIVE 7.250 1,596.30
90
7.000 1,596.30
260,000.00
GLENN DALE MD 20769 2 10/14/93
04
3212625 03 12/01/93
0
3212625 O 11/01/23
0
1455765 447/447 F 300,000.00
ZZ
BERG 360 292,945.08
1
130 WALNUT STREET 7.500 2,097.65
54
7.250 2,097.65
560,000.00
ENGLEWOOD NJ 07631 1 06/09/93
00
3212630 05 08/01/93
0
3212630 O 07/01/23
0
1455766 447/447 F 300,000.00
ZZ
NEFF 360 290,444.98
1
2089 TOURAINE LANE 7.625 2,123.39
84
7.375 2,123.39
358,000.00
HALF MOON CA 94019 2 07/20/93
04
3212631 03 09/01/93
0
3212631 O 08/01/23
0
1455767 447/447 F 285,350.00
ZZ
MARQUEZ 360 279,345.28
1
2552 GLEN DUNDEE WAY 7.250 1,946.59
90
7.000 1,946.59
317,065.00
SAN JOSE CA 95148 1 10/15/93
04
3212632 05 12/01/93
0
3212632 O 11/01/23
0
1
1455768 447/447 F 370,000.00
ZZ
MCMULLEN 360 362,013.20
1
6310 CORTE ESPERANZA 7.750 2,650.73
80
7.500 2,650.73
463,000.00
PLEASANTON CA 94566 2 07/20/93
00
3212634 05 09/01/93
0
3212634 O 08/01/23
0
1455769 447/447 F 270,000.00
ZZ
GUERINO 360 264,171.89
1
6501 BRET HARTE COURT 7.750 1,934.31
73
7.500 1,934.31
370,000.00
CASTRO VALLEY CA 94552 5 07/13/93
00
3212637 03 09/01/93
0
3212637 O 08/01/23
0
1455770 447/447 F 340,000.00
ZZ
ONO 360 332,246.86
1
1595 EAMES STREET 7.250 2,319.40
80
7.000 2,319.40
425,000.00
WAHIAWA HI 96786 1 08/25/93
00
3212640 05 10/01/93
0
3212640 O 09/01/23
0
1455772 447/447 F 244,000.00
ZZ
CRAIGHILL 360 223,260.46
1
965 MARION WAY 7.500 1,706.08
80
7.250 1,706.08
305,000.00
SUNNYVALE CA 94087 5 07/15/93
00
3212643 05 09/01/93
0
3212643 O 08/01/23
0
1455773 447/447 F 320,000.00
ZZ
COOK 360 302,987.46
1
26860 RIVER ROAD 7.375 2,210.17
83
7.125 2,210.17
390,000.00
CLOVERDALE CA 95425 2 07/28/93
10
3212648 05 09/01/93
0
3212648 O 08/01/23
0
1455774 447/447 F 536,000.00
ZZ
SILVERMAN 360 523,062.22
1
15981 ROSE AVENUE 7.750 3,839.97
80
7.500 3,839.97
670,000.00
1
LOS GATOS CA 95030 1 04/23/93
00
3212649 05 06/01/93
0
3212649 O 05/01/23
0
1455775 447/447 F 332,000.00
ZZ
CHO 360 324,732.07
1
29692 TERACINA 7.250 2,264.83
78
7.000 2,264.83
430,000.00
LAGUNA NIGUEL CA 92677 2 09/08/93
00
3212654 07 11/01/93
0
3212654 O 10/01/23
0
1455776 447/447 F 384,000.00
ZZ
ZARETSKY 360 373,896.72
1
830 HILLSIDE DRIVE 7.500 2,684.98
80
7.250 2,684.98
480,000.00
LONG BEACH CA 90815 1 07/16/93
00
3212656 03 09/01/93
0
3212656 O 08/01/23
0
1455777 447/447 F 225,000.00
ZZ
BABICIUC 360 220,143.16
1
1776 OAKDALE STREET 7.750 1,611.93
69
7.500 1,611.93
330,000.00
PASADENA CA 91106 2 07/28/93
00
3212657 05 09/01/93
0
3212657 O 08/01/23
0
1455778 447/447 F 257,000.00
ZZ
MCGLINCHEY 360 251,732.84
1
1625 HUNTING AVENUE 7.375 1,775.04
80
7.125 1,775.04
325,000.00
MCLEAN VA 22102 2 10/22/93
00
3212663 05 12/01/93
0
3212663 O 11/01/23
0
1455779 447/447 F 326,000.00
ZZ
GRAHAM 360 319,236.99
1
12368 KENNY DRIVE 7.750 2,335.50
76
7.500 2,335.50
430,000.00
GRANADA HILLS CA 91344 2 08/06/93
00
3212667 05 10/01/93
0
3212667 O 09/01/23
0
1
1455780 447/447 F 282,000.00
ZZ
BYRON 360 275,865.48
1
1864 TANGLEWOOD WAY 7.500 1,971.78
73
7.250 1,971.78
390,000.00
PLEASANTON CA 94566 2 08/04/93
00
3212669 05 10/01/93
0
3212669 O 09/01/23
0
1455781 447/447 F 260,000.00
ZZ
CATALANO 360 254,763.08
1
52 WILDWOOD LANE 7.375 1,795.76
75
7.125 1,795.76
350,000.00
ROSLYN HEIGHTS NY 11577 2 10/28/93
00
3212670 05 01/01/94
0
3212670 O 12/01/23
0
1455782 447/447 F 247,000.00
ZZ
BYRD 360 241,875.74
1
7854 TURQUOISE STREET 7.750 1,769.54
89
7.500 1,769.54
280,000.00
DUBLIN CA 94568 2 08/23/93
04
3212677 05 10/01/93
0
3212677 O 09/01/23
0
1455783 447/447 F 211,000.00
ZZ
MAGNO 360 204,102.35
1
5334 MATTHEW TERRACE 7.750 1,511.63
90
7.500 1,511.63
235,000.00
FREMONT CA 94555 2 08/04/93
11
3212678 03 10/01/93
0
3212678 O 09/01/23
0
1455784 447/447 F 245,000.00
ZZ
KUO 360 239,858.93
1
35 MARSEILLE COURT 7.250 1,671.33
70
7.000 1,671.33
350,000.00
DANVILLE CA 94506 2 10/13/93
00
3212683 03 12/01/93
0
3212683 O 11/01/23
0
1455785 447/447 F 650,000.00
ZZ
BIERSTOCK 360 636,515.21
1
1
7995 SHELBORNE DRIVE 7.750 4,656.68
74
7.500 4,656.68
880,000.00
LOOMIS CA 95650 2 09/01/93
00
3212685 03 10/01/93
0
3212685 O 09/01/23
0
1455786 447/447 F 265,500.00
ZZ
HELM 360 259,623.57
1
6057 MARSHALL WAY 7.750 1,902.07
90
7.500 1,902.07
295,000.00
SAN LUIS OBISPO CA 93401 1 07/21/93
04
3212688 05 09/01/93
0
3212688 O 08/01/23
0
1455787 447/447 F 244,000.00
ZZ
BRUMFIELD 360 238,591.23
1
641 BARCELONA DRIVE 7.375 1,706.09
80
7.125 1,706.09
305,000.00
SONOMA CA 95476 5 08/10/93
00
3212690 05 10/01/93
0
3212690 O 09/01/23
0
1455788 447/447 F 236,800.00
ZZ
REINGOLD 360 231,488.19
1
63 KEYSTONE WAY 7.750 1,696.47
80
7.500 1,696.47
299,000.00
SAN FRACISCO CA 94127 5 06/08/93
00
3212694 05 08/01/93
0
3212694 O 07/01/23
0
1455789 447/447 F 260,000.00
T
STEFFENS 360 253,708.93
1
1230 SEACOAST DRIVE NO 4 7.500 1,817.96
79
7.250 1,817.96
330,000.00
IMPERIAL BEACH CA 91932 2 07/07/93
00
3212696 01 09/01/93
0
3212696 O 08/01/23
0
1455790 447/447 F 775,000.00
ZZ
MAEDA 360 758,737.28
1
26888 ALMADEN COURT 7.250 5,286.87
65
7.000 5,286.87
1,200,000.00
LOS ALTOS HILLS CA 94022 2 10/01/93
00
3212700 05 12/01/93
0
1
3212700 O 11/01/23
0
1455791 447/447 F 232,000.00
ZZ
LEVANDOSKI 360 223,499.13
1
832 BALBOA AVENUE 7.375 1,602.37
80
7.125 1,602.37
290,000.00
CAPITOLA CA 95010 1 07/06/93
00
3212704 05 09/01/93
0
3212704 O 08/01/23
0
1455792 447/447 F 319,000.00
ZZ
HATCH 360 311,844.44
1
2017 PALMER DRIVE 7.750 2,285.36
69
7.500 2,285.36
469,000.00
PLEASANTON CA 94588 1 06/17/93
00
3212707 05 08/01/93
0
3212707 O 07/01/23
0
1455793 447/447 F 350,000.00
ZZ
LEWIS 360 342,078.73
1
5905 CROSSMONT CIRCLE 7.500 2,447.25
76
7.250 2,447.25
462,000.00
SAN JOSE CA 95120 5 07/01/93
00
3212708 05 09/01/93
0
3212708 O 08/01/23
0
1455794 447/447 F 288,000.00
ZZ
KEMP 360 281,956.52
1
3209 HIGH BOROUGH 7.250 1,964.67
90
7.000 1,964.67
320,000.00
VIRGINIA BEACH VA 23452 1 10/15/93
11
3212711 05 12/01/93
0
3212711 O 11/01/23
0
1455795 447/447 F 276,000.00
ZZ
ANDERSON1 240 262,367.81
1
3 OVERHILL DRIVE 7.375 2,202.39
75
7.125 2,202.39
370,000.00
NORTH OAKS MN 55431 2 10/20/93
00
3212713 05 12/01/93
0
3212713 O 11/01/13
0
1
1455796 447/447 F 270,000.00
ZZ
PASTUHOV 360 262,895.93
1
301 OAKDALE AVENUE 7.750 1,934.32
47
7.500 1,934.32
575,000.00
MILL VALLEY CA 94941 2 06/09/93
00
3212714 05 08/01/93
0
3212714 O 07/01/23
0
1455797 447/447 F 453,000.00
ZZ
CHU 360 439,437.14
1
4500 DRUMMOND AVENUE 7.375 3,128.76
76
7.125 3,128.76
600,000.00
BETHESDA MD 20815 2 10/26/93
00
3212720 05 12/01/93
0
3212720 O 11/01/23
0
1455798 447/447 F 276,000.00
ZZ
MAYAMA 360 270,476.13
1
371 SOUTH SILVERBROOK 7.500 1,929.83
75
7.250 1,929.83
372,000.00
ANAHEIM CA 92807 2 10/08/93
00
3212724 03 12/01/93
0
3212724 O 11/01/23
0
1455799 447/447 F 202,500.00
ZZ
KRUSE 360 198,128.75
1
120 GLENDORA AVENUE 7.750 1,450.74
75
7.500 1,450.74
270,000.00
LONG BEACH CA 90803 1 07/21/93
00
3212726 05 09/01/93
0
3212726 O 08/01/23
0
1455800 447/447 F 140,000.00
ZZ
KANTROWITZ 360 137,006.47
1
619 NO. EDGEMERE DRIVE 7.375 966.95
70
7.125 966.95
200,000.00
W. ALLENHURST NJ 07711 1 09/28/93
00
3212730 05 11/01/93
0
3212730 O 10/01/23
0
1455801 447/447 F 220,000.00
ZZ
JOHNSTONE 360 214,630.64
1
11117 WOODHALL 7.500 1,538.28
48
7.250 1,538.28
460,000.00
1
BAKERSFIELD CA 93311 1 05/10/93
00
3212733 03 07/01/93
0
3212733 O 06/01/23
0
1455802 447/447 F 419,000.00
ZZ
PICKARD 360 410,555.83
1
6 RUSTLER LANE 7.750 3,001.77
80
7.500 3,001.77
530,000.00
ROLLING HILLS E CA 90274 2 09/07/93
00
3212734 05 11/01/93
0
3212734 O 10/01/23
0
1455803 447/447 F 276,000.00
ZZ
WILKES 360 270,274.10
1
3236 SWISS COURT 7.750 1,977.30
80
7.500 1,977.30
345,000.00
NAPA CA 94558 5 08/05/93
00
3212739 05 10/01/93
0
3212739 O 09/01/23
0
1455804 447/447 F 263,000.00
ZZ
BUSH 360 257,841.70
1
4760 BAYSWATER ROAD 7.375 1,816.48
65
7.125 1,816.48
405,000.00
SHOREWOOD MN 55331 1 11/10/93
00
3212746 03 01/01/94
0
3212746 O 12/01/23
0
1455805 447/447 F 255,000.00
ZZ
PLANT 360 249,467.06
1
13167 DRY CREEK ROAD 7.750 1,826.85
42
7.500 1,826.85
620,000.00
AUBURN CA 95602 5 07/06/95
00
3212748 05 09/01/93
0
3212748 O 08/01/23
0
1455806 447/447 F 309,600.00
ZZ
DEBENEDETTI 360 301,256.65
1
3527 MICHAEL DRIVE 7.750 2,218.01
90
7.500 2,218.01
344,000.00
SAN MATEO CA 94403 2 04/17/93
11
3212751 05 06/01/93
0
3212751 O 05/01/23
0
1
1455807 447/447 F 226,000.00
ZZ
KETCHAM 360 221,368.19
1
18321 WOOLMAN DRIVE 7.375 1,560.93
80
7.125 1,560.93
282,500.00
MINNETONKA MN 55345 2 10/25/93
00
3212753 05 12/01/93
0
3212753 O 11/01/23
0
1455808 447/447 F 264,000.00
ZZ
HUGGINS 360 258,716.18
1
2690 SAUSALITO AVENUE 7.500 1,845.93
73
7.250 1,845.93
363,000.00
CARLSBAD CA 92008 2 10/11/93
00
3212755 05 12/01/93
0
3212755 O 11/01/23
0
1455809 447/447 F 490,000.00
ZZ
FLEISHER 360 478,203.39
1
124 SAND HILLS ROAD 7.375 3,384.31
80
7.125 3,384.31
615,000.00
MONMOUTH JUNCTI NJ 08852 2 06/07/93
00
3212757 05 08/01/93
0
3212757 O 07/01/23
0
1455810 447/447 F 218,000.00
ZZ
EMRICH 360 212,873.46
1
520 SPRUCE LANE 7.500 1,524.30
79
7.250 1,524.30
278,000.00
VILLANOVA PA 19085 2 07/05/93
00
3212759 05 08/01/93
0
3212759 O 07/01/23
0
1455811 447/447 F 348,000.00
ZZ
WILLIAMS 360 325,422.79
1
3 GRANITE ROAD 7.375 2,403.55
80
7.125 2,403.55
435,000.00
WILMINGTON DE 19803 1 06/15/93
00
3212763 05 08/01/93
0
3212763 O 07/01/23
0
1455812 447/447 F 311,500.00
ZZ
GRIFFIN 360 302,360.92
1
1
1165 ALTSCHUL AVENUE 7.500 2,178.05
70
7.250 2,178.05
445,000.00
MENLO PARK CA 94025 2 08/10/93
00
3212767 05 10/01/93
0
3212767 O 09/01/23
0
1455813 447/447 F 320,000.00
ZZ
JONES 360 313,441.58
1
2490 STROKE DRIVE 7.375 2,210.17
80
7.125 2,210.17
401,000.00
LAKE HAVASU AZ 86406 2 10/22/93
00
3212768 05 12/01/93
0
3212768 O 11/01/23
0
1455814 447/447 F 116,150.00
ZZ
BURLAZZI 360 113,219.17
1
10 NORTHFIELD COURT 7.375 802.22
75
7.125 802.22
155,500.00
LAMBERTVILLE NJ 08530 2 05/24/93
00
3212771 05 07/01/93
0
3212771 O 06/01/23
0
1455815 447/447 F 248,000.00
ZZ
CLIFTON 360 242,253.66
1
4330 CAMELLIA COURT 7.375 1,712.87
80
7.125 1,712.87
310,000.00
PLEASANTON CA 94566 5 07/12/93
00
3212777 03 09/01/93
0
3212777 O 08/01/23
0
1455816 447/447 F 216,000.00
ZZ
BRADSHAW 360 211,573.18
1
475 TANGLEWOOD DRIVE 7.375 1,491.86
82
7.125 1,491.86
265,000.00
CARY IL 60013 2 10/27/93
11
3212782 05 12/01/93
0
3212782 O 11/01/23
0
1455817 447/447 F 229,000.00
ZZ
CASABLANCA 360 220,868.11
1
129 HEWITT BOULEVARD 7.500 1,601.21
80
7.250 1,601.21
289,000.00
CENTER MORICHES NY 11934 2 06/10/93
00
3212789 05 08/01/93
0
1
3212789 O 07/01/23
0
1455818 447/447 F 300,000.00
ZZ
YANG 360 294,116.04
1
3160 DONOVAN GLEN COURT 7.375 2,072.03
52
7.125 2,072.03
580,000.00
NORTHBROOK IL 60062 2 11/01/93
00
3212790 05 01/01/94
0
3212790 O 12/01/23
0
1455819 447/447 F 224,000.00
ZZ
TURNER 240 211,608.05
1
857 MCKINLEY AVENUE 7.375 1,787.45
80
7.125 1,787.45
280,000.00
OAKLAND CA 94610 2 09/10/93
00
3212794 05 11/01/93
0
3212794 O 10/01/13
0
1455820 447/447 F 600,000.00
ZZ
ATWATER 360 586,096.95
1
3460 CLAY STREET 7.375 4,144.06
46
7.125 4,144.06
1,325,000.00
SAN FRANCISCO CA 94118 1 07/21/93
00
3212802 05 09/01/93
0
3212802 O 08/01/23
0
1455821 447/447 F 243,000.00
ZZ
HAWKINS 360 232,330.00
1
1275 DEVENTER DRIVE 7.375 1,678.35
90
7.125 1,678.35
270,000.00
LA VERNE CA 91750 1 08/19/93
04
3212808 05 10/01/93
0
3212808 O 09/01/23
0
1455822 447/447 F 290,000.00
ZZ
KHATIBI 360 284,056.63
1
133 VIA MEDICI 7.375 2,002.96
80
7.125 2,002.96
365,000.00
APTOS CA 95003 2 10/11/93
00
3212817 07 12/01/93
0
3212817 O 11/01/23
0
1
1455823 447/447 F 250,200.00
ZZ
SHULTE 360 244,110.69
1
1054 HUTLEY WAY 7.375 1,728.07
90
7.125 1,728.07
278,000.00
ROSEVILLE CA 95746 1 09/29/93
04
3212822 03 11/01/93
0
3212822 O 10/01/23
0
1455824 447/447 F 480,000.00
ZZ
HUKARI 360 468,392.77
1
2900 SAN JUAN BOULEVARD 7.375 3,315.24
80
7.125 3,315.24
600,000.00
BELMONT CA 94002 1 06/21/93
00
3212829 05 08/01/93
0
3212829 O 07/01/23
0
1455825 447/447 F 168,000.00
ZZ
HYLTON 360 155,705.59
1
670 EAST 22ND STREET 7.500 1,182.14
66
7.250 1,182.14
258,000.00
BROOKLYN NY 11210 1 02/28/89
00
3212830 05 04/01/89
0
3212830 O 03/01/19
0
1455826 447/447 F 228,000.00
ZZ
GRAY 360 210,591.08
1
1035 SOUTH STAGE COACH LANE 7.375 1,574.74
85
7.125 1,574.74
270,000.00
FALLBROOK CA 92028 2 09/21/93
11
3212831 05 11/01/93
0
3212831 O 10/01/23
0
1455827 447/447 F 139,300.00
ZZ
CLARK 360 136,511.93
1
6311 TWONOTCH CT 7.500 974.01
70
7.250 974.01
199,000.00
DUBLIN OH 43017 1 10/15/93
00
3212833 05 12/01/93
0
3212833 O 11/01/23
0
1455828 447/447 F 300,000.00
ZZ
UNRUH 360 293,851.60
1
7412 OAK GROVE AVENUE 7.375 2,072.03
65
7.125 2,072.03
465,000.00
1
LAS VEGAS NV 89117 2 10/20/93
00
3212835 03 12/01/93
0
3212835 O 11/01/23
0
1455829 447/447 F 300,000.00
ZZ
BEAR 360 293,304.35
1
23 W WINDSOR AVENUE 7.375 2,072.03
90
7.125 2,072.03
335,000.00
ALEXANDRIA VA 22301 2 10/13/93
04
3212838 05 12/01/93
0
3212838 O 11/01/23
0
1455830 447/447 F 528,000.00
ZZ
ERICKSON 360 516,710.90
1
736 SCHUEREN ROAD 7.375 3,646.76
80
7.125 3,646.76
660,000.00
MALIBU CA 90265 2 09/02/93
00
3212843 05 11/01/93
0
3212843 O 10/01/23
0
1455831 447/447 F 100,000.00
ZZ
JOHNSON 360 97,998.45
1
4505 FERNCROFT CIRCLE 7.500 699.22
58
7.250 699.22
173,000.00
TAMPA FL 33629 2 10/18/93
00
3212845 05 12/01/93
0
3212845 O 11/01/23
0
1455832 447/447 F 374,000.00
ZZ
UPADHYAYULA 360 365,333.76
1
48936 GREEN VALLEY ROAD 7.375 2,583.13
80
7.125 2,583.13
470,000.00
FREMONT CA 94539 2 07/23/93
00
3212846 05 09/01/93
0
3212846 O 08/01/23
0
1455833 447/447 F 260,000.00
ZZ
ADLER 360 253,975.34
1
3720 VALLEY VISTA ROAD 7.375 1,795.76
80
7.125 1,795.76
325,000.00
BONITA CA 91902 5 07/12/93
00
3212848 05 09/01/93
0
3212848 O 08/01/23
0
1
1455834 447/447 F 348,150.00
ZZ
STAWARA 360 340,395.34
1
3007 DOCTORS LAKE DRIVE 7.375 2,404.59
77
7.125 2,404.59
455,000.00
ORANGE PARK FL 32073 2 08/06/93
00
3212851 05 10/01/93
0
3212851 O 09/01/23
0
1455835 447/447 F 324,000.00
ZZ
PRATT 360 316,492.42
1
18702 BEAR CREEK ROAD 7.375 2,237.79
80
7.125 2,237.79
405,000.00
LOS GATOS CA 95030 5 07/12/93
00
3212855 05 09/01/93
0
3212855 O 08/01/23
0
1455836 447/447 F 224,000.00
ZZ
CEDARBLADE 360 218,809.37
1
79 PARADISE AVENUE 7.375 1,547.12
80
7.125 1,547.12
280,000.00
SAN FRANCISCO CA 94131 5 07/07/93
00
3212856 05 09/01/93
0
3212856 O 08/01/23
0
1455837 447/447 F 279,000.00
ZZ
YU 360 250,053.14
1
810 WINTERSIDE CIRCLE 7.500 1,950.81
90
7.250 1,950.81
310,000.00
SAN RAMON CA 94583 1 06/25/93
04
3212857 07 08/01/93
0
3212857 O 07/01/23
0
1455838 447/447 F 254,500.00
ZZ
EVERETT 360 246,799.69
1
940 PLEASANT AVE 7.375 1,757.77
90
7.125 1,757.77
285,000.00
HIGHLAND PARK IL 60035 2 10/25/93
11
3212859 05 12/01/93
0
3212859 O 11/01/23
0
1455839 447/447 F 215,000.00
ZZ
NEHRER 360 210,696.98
1
1
4465 ESTA LANE 7.500 1,503.31
59
7.250 1,503.31
365,000.00
SOQUEL CA 95073 2 10/25/93
00
3212867 07 12/01/93
0
3212867 O 11/01/23
0
1455840 447/447 F 544,000.00
ZZ
BUCK 360 531,688.00
1
78 MELROSE PLACE 7.500 3,803.73
78
7.250 3,803.73
700,000.00
REDWOOD CITY CA 94062 2 07/01/93
00
3213017 05 09/01/93
0
3213017 O 08/01/23
0
1455841 447/447 F 248,000.00
ZZ
WU 360 242,168.13
1
2760 BELMONT CANYON ROAD 7.500 1,734.05
68
7.250 1,734.05
368,000.00
BELMONT CA 94002 1 06/23/93
00
3213021 05 08/01/93
0
3213021 O 07/01/23
0
1455842 447/447 F 553,500.00
ZZ
HEUSSER 360 540,973.13
1
27206 STAGEWOOD COURT 7.500 3,870.15
74
7.250 3,870.15
750,000.00
LAGUNA HILLS CA 92653 2 07/14/93
00
3213026 03 09/01/93
0
3213026 O 08/01/23
0
1455843 447/447 F 252,000.00
ZZ
KOERNER 360 246,956.40
1
1007 SOUTH CATALINA AVENUE 7.500 1,762.02
78
7.250 1,762.02
324,000.00
REDONDO BEACH CA 90254 2 10/18/93
00
3213221 01 12/01/93
0
3213221 O 11/01/23
0
1455844 447/447 F 345,000.00
ZZ
TUAZON 360 337,795.87
1
615 S RADBURY PLACE 7.500 2,412.29
75
7.250 2,412.29
460,000.00
DIAMOND BAR CA 91765 2 09/23/93
00
3213231 05 11/01/93
0
1
3213231 O 10/01/23
0
1455845 447/447 F 308,000.00
ZZ
ZUCKER 360 296,935.43
1
1635 WEBSTER WAY 7.500 2,118.63
77
7.250 2,118.63
400,000.00
RENO NV 89509 2 10/13/93
00
3213241 05 12/01/93
0
3213241 O 11/01/23
0
1455846 447/447 F 266,000.00
ZZ
GOTTFELD 360 259,577.94
1
3973 BLUE GUM DRIVE 7.500 1,859.91
70
7.250 1,859.91
380,000.00
SAN JOSE CA 95127 2 08/05/93
00
3213253 05 10/01/93
0
3213253 O 09/01/23
0
1455847 447/447 F 280,000.00
ZZ
FERRAZ 360 273,663.00
1
7223 SCARSDALE PLACE 7.500 1,957.80
51
7.250 1,957.80
550,000.00
SAN JOSE CA 95120 2 07/28/93
00
3213265 05 09/01/93
0
3213265 O 08/01/23
0
1455848 447/447 F 280,000.00
ZZ
ANTLER 360 273,908.87
1
13602 NOGALES 7.500 1,957.80
54
7.250 1,957.80
523,000.00
DEL MAR CA 92014 5 08/20/93
00
3213274 05 10/01/93
0
3213274 O 09/01/23
0
1455849 447/447 F 494,000.00
ZZ
RAMOS 360 483,252.99
1
18138 DAVIS AVENUE 7.500 3,454.12
64
7.250 3,454.12
775,000.00
MONTE SERENO CA 95030 2 08/06/93
00
3213278 05 10/01/93
0
3213278 O 09/01/23
0
1
1455850 447/447 F 160,000.00
ZZ
LONG 360 146,714.16
1
2890 WIMBLEDON LANE 7.500 1,141.95
66
7.250 1,141.95
243,000.00
LANCASTER PA 17601 1 02/29/88
00
3213296 05 04/01/88
0
3213296 O 03/01/18
0
1455851 447/447 F 272,000.00
ZZ
VONTOBEL 360 271,434.74
1
5824 WINEGROVE COURT 7.875 1,972.19
80
7.625 1,972.19
340,000.00
DERWOOD MD 20855 1 08/18/95
00
3213298 05 10/01/95
0
3213298 O 09/01/25
0
1455852 447/447 F 321,000.00
ZZ
BUERGER 360 315,069.03
1
1131 REYNELLA COURT 7.500 2,265.46
80
7.250 2,265.46
405,000.00
SUNNYVALE CA 94087 5 06/16/93
00
3213301 05 08/01/93
0
3213301 O 07/01/23
0
1455853 447/447 F 333,000.00
T
PRIMIS 360 325,114.18
1
160 WEST 66TH STREET APT 42F 7.500 2,328.39
67
7.250 2,328.39
498,000.00
NEW YORK NY 10023 1 06/04/93
00
3213307 06 08/01/93
0
3213307 O 07/01/23
0
1455854 447/447 F 240,000.00
ZZ
WHITING 360 230,842.03
1
905 VERNAL WAY 7.500 1,678.12
62
7.250 1,678.12
390,000.00
MILL VALLEY CA 94941 5 06/21/93
00
3213315 05 08/01/93
0
3213315 O 07/01/23
0
1455855 447/447 F 341,000.00
ZZ
BERG 360 333,155.58
1
465 THATCHER LANE 7.500 2,384.32
75
7.250 2,384.32
455,000.00
1
FOSTER CITY CA 94404 1 07/21/93
00
3213343 03 09/01/93
0
3213343 O 08/01/23
0
1455856 447/447 F 248,000.00
ZZ
FICHOU 360 242,604.74
1
116 DURHAM STREET 7.500 1,734.05
80
7.250 1,734.05
312,000.00
MENLO PARK CA 94025 2 08/26/93
00
3213350 05 10/01/93
0
3213350 O 09/01/23
0
1455857 447/447 F 326,000.00
ZZ
FISHER 360 318,333.87
1
5205 CLIPPER COVE ROAD 7.500 2,279.44
78
7.250 2,279.44
420,000.00
MIDLOTHIAN VA 23112 2 06/07/93
00
3213365 07 08/01/93
0
3213365 O 07/01/23
0
1455858 447/447 F 226,400.00
ZZ
MERGET 360 220,902.14
1
375 RAYMOND STREET 7.500 1,583.03
80
7.250 1,583.03
283,050.00
ROCKVILLE CENTR NY 11570 1 06/16/93
00
3213375 05 08/01/93
0
3213375 O 07/01/23
0
1455859 447/447 F 247,000.00
ZZ
SMITH 360 246,524.23
1
65 BLACK POND HILL ROAD 8.250 1,855.63
95
8.000 1,855.63
261,000.00
NORWELL MA 02061 1 08/25/95
11
3213403 05 10/01/95
0
3213403 O 09/01/25
0
1455860 447/447 F 226,100.00
ZZ
GOFF JR 360 225,825.07
1
37 NICHOLS STREET 8.500 1,738.52
95
8.250 1,738.52
239,900.00
REHOBOTH MA 02769 1 09/06/95
10
3213411 05 11/01/95
0
3213411 O 10/01/25
0
1
1455861 447/447 F 519,900.00
ZZ
BARAGAR 360 518,735.22
1
3444 NO. ROBERTS LANE 7.500 3,635.22
80
7.250 3,635.22
649,900.00
ARLINGTON VA 22207 1 08/28/95
00
3213450 05 10/01/95
0
3213450 O 09/01/25
0
1455862 447/447 F 220,500.00
ZZ
DARROW 360 219,768.96
1
6212 WINNEPEG DRIVE 8.125 1,637.21
90
7.875 1,637.21
245,000.00
BURKE VA 22015 1 07/07/95
04
3213451 03 08/01/95
0
3213451 O 07/01/25
0
1455863 447/447 F 283,000.00
ZZ
JENNINGS 360 282,411.87
1
4425 CHALFONT PLACE 7.875 2,051.95
48
7.625 2,051.95
600,000.00
BETHESDA MD 20816 2 08/25/95
00
3213601 03 10/01/95
0
3213601 O 09/01/25
0
1455864 447/447 F 78,750.00
ZZ
RYMAN 360 73,971.31
1
77 MILL CREEK DRIVE 9.250 648.03
90
9.000 648.03
87,546.00
CHARLOTTESVILLE VA 22901 1 11/23/88
10
3213628 05 01/01/89
0
3213628 O 12/01/18
0
1455865 447/447 F 650,000.00
ZZ
GROSSMAN 360 648,747.99
1
5607 VERSAILLES COURT 8.250 4,883.23
75
8.000 4,883.23
875,000.00
COLLEYVILLE TX 76034 2 08/31/95
00
3213653 05 10/01/95
0
3213653 O 09/01/25
0
1455866 447/447 F 79,200.00
ZZ
SILVIUS 360 73,026.75
1
1
418-420 E LEXINGTON STREET 8.750 625.48
80
8.500 625.48
99,000.00
ALLENTOWN PA 18103 1 02/09/88
00
3213665 05 04/01/88
0
3213665 O 03/01/18
0
1455867 447/447 F 308,000.00
ZZ
TSAI 360 301,687.78
1
53 GREENWAY TERRACE 7.375 2,127.28
70
7.125 2,127.28
440,000.00
FOREST HILLS NY 11375 1 10/19/93
00
3213706 05 12/01/93
0
3213706 O 11/01/23
0
1455868 447/447 F 275,400.00
ZZ
WAGNER 360 274,634.36
1
3598 NOVA ROAD 7.875 1,996.85
95
7.625 1,996.85
289,900.00
PINE CO 80470 1 07/31/95
21
3214542 05 09/01/95
0
3214542 O 08/01/25
0
1455869 447/447 F 312,000.00
ZZ
BOHNE 360 311,154.19
1
101 INDIAN WOOD LANE 8.000 2,289.35
75
7.750 2,289.35
420,000.00
INDIANHEAD PARK IL 60525 1 07/14/95
00
3215522 05 09/01/95
0
3215522 O 08/01/25
0
1455870 447/447 F 245,000.00
ZZ
DEOL 360 161,406.58
1
4229 PICKEREL DRIVE 7.500 1,713.08
74
7.250 1,713.08
335,000.00
UNION CITY CA 94587 1 06/22/93
00
3215936 03 08/01/93
0
3215936 O 07/01/23
0
1455871 447/447 F 270,000.00
ZZ
PERRY 360 268,926.40
1
31755 LEEWARD CT 7.750 1,934.32
84
7.500 1,934.32
325,000.00
AVON LK OH 44012 1 07/24/95
21
3216186 03 09/01/95
0
1
3216186 O 08/01/25
0
1455872 447/447 F 416,000.00
ZZ
SMITHWICK 360 406,734.18
4
436-440 SCOTT STREET 7.375 2,873.21
70
7.125 2,873.21
600,000.00
SAN FRANCISCO CA 94117 2 08/05/93
00
3216301 05 10/01/93
0
3216301 O 09/01/23
0
1455873 447/447 F 250,000.00
ZZ
NAVA 360 244,290.64
4
843 NORTH HUNTLEY DRIVE 8.000 1,834.41
66
7.750 1,834.41
380,000.00
WEST HOLLYWOOD CA 90069 2 05/17/93
00
3216302 05 07/01/93
0
3216302 O 06/01/23
0
1455874 447/447 F 117,300.00
ZZ
FABBIANI 360 109,513.34
1
9 CAPUTO DRIVE 8.375 895.68
45
8.125 895.68
265,000.00
MANORVILLE NY 11949 2 11/02/88
00
3217779 05 01/01/89
0
3217779 O 12/01/18
0
1455875 447/447 F 80,000.00
BB
TORRES 360 73,642.41
1
2405 BELLEVUE RD. 8.375 610.65
28
8.125 610.65
295,000.00
HARRISBURG PA 17104 1 12/29/87
00
3217796 01 02/01/88
0
3217796 O 01/01/18
0
1455876 447/447 F 269,250.00
ZZ
JAFFE 360 258,966.12
1
900 DAY VALLEY ROAD 7.250 1,836.76
75
7.000 1,836.76
359,000.00
APTOS CA 95003 5 08/18/93
00
3217811 05 10/01/93
0
3217811 O 09/01/23
0
1
1455877 447/447 F 356,000.00
ZZ
LUPOFF 360 348,375.37
1
7 HERMIT LANE 7.250 2,428.55
80
7.000 2,428.55
445,000.00
WESTPORT CT 06880 2 10/20/93
00
3217815 05 12/01/93
0
3217815 O 11/01/23
0
1455878 447/447 F 236,250.00
ZZ
LI 360 230,427.48
1
11 HUNT COURT 7.250 1,611.65
75
7.000 1,611.65
315,000.00
JERICHO NY 11753 1 06/28/93
00
3217822 03 08/01/93
0
3217822 O 07/01/23
0
1455879 447/447 F 321,300.00
ZZ
KEYSER 360 314,557.87
1
2164 NW 30TH ROAD 7.250 2,191.83
90
7.000 2,191.83
357,000.00
BOCA RATON FL 33431 1 10/03/93
11
3217826 07 12/01/93
0
3217826 O 11/01/23
0
1455880 447/447 F 305,000.00
ZZ
PAUL 360 298,440.54
1
75 CIRCLE LANE 7.250 2,080.64
76
7.000 2,080.64
405,000.00
ROSLYN HEIGHTS NY 11577 2 10/20/93
00
3217833 05 12/01/93
0
3217833 O 11/01/23
0
1455881 447/447 F 290,400.00
ZZ
GORMAN 360 283,929.77
1
64 SENECA PLACE 7.375 2,005.72
80
7.125 2,005.72
363,000.00
OCEANPORT NJ 07757 2 10/22/93
00
3217851 05 12/01/93
0
3217851 O 11/01/23
0
1455882 447/447 F 107,000.00
ZZ
CAMPBELL 360 104,807.16
1
455 ANDREW ROAD 7.375 739.02
60
7.125 739.02
180,000.00
1
HUNTINGDON VALL PA 19006 2 10/05/93
00
3217862 05 12/01/93
0
3217862 O 11/01/23
0
1455883 447/447 F 375,000.00
ZZ
PALYS 360 367,130.75
1
13305 OAKLAND DRIVE 7.250 2,558.17
71
7.000 2,558.17
529,000.00
ROCKVILLE MD 20850 2 10/15/93
00
3217867 05 12/01/93
0
3217867 O 11/01/23
0
1455884 447/447 F 130,000.00
ZZ
SHINE 360 125,971.18
1
23 B JOHNSON STREET UNIT 2 7.375 897.88
62
7.125 897.88
210,000.00
NEWBURYPORT MA 01950 2 10/25/93
00
3217869 01 12/01/93
0
3217869 O 11/01/23
0
1455885 447/447 F 350,000.00
T
KNIGHT 360 349,552.11
1
48-330 PASO TIEMPO LANE 8.250 2,629.43
65
8.000 2,629.43
545,000.00
LAQUINTA CA 92253 2 09/11/95
00
3217902 03 11/01/95
0
3217902 O 10/01/25
0
1455886 447/447 F 237,500.00
ZZ
DALBEC 360 228,415.83
1
54255 MEADOWOOD COURT 7.375 1,640.35
88
7.125 1,640.35
270,000.00
SHELBY TOWNSHIP MI 48316 2 10/06/93
04
3217914 05 12/01/93
0
3217914 O 11/01/23
0
1455887 447/447 F 175,600.00
ZZ
SCHETTINI 360 170,838.73
1
2246 FARRELL COURT 7.375 1,212.83
44
7.125 1,212.83
400,000.00
SOUTH MERRICK NY 11566 2 06/15/93
00
3217924 05 08/01/93
0
3217924 O 07/01/23
0
1
1455888 447/447 F 576,000.00
ZZ
KIM 360 562,770.54
1
4825 EL SERENO AVENUE 7.625 4,076.89
72
7.375 4,076.89
800,000.00
LA CRESENTA CA 91214 2 06/25/93
00
3217925 05 08/01/93
0
3217925 O 07/01/23
0
1455889 447/447 F 253,000.00
ZZ
DEMATTOS 360 245,688.83
1
6247 MELBA AVENUE 7.500 1,769.01
80
7.250 1,769.01
320,000.00
WOODLAND HILLS CA 91367 2 06/15/93
00
3217928 05 08/01/93
0
3217928 O 07/01/23
0
1455890 447/447 F 500,000.00
ZZ
BAKKEN 360 489,123.09
1
111 WOLLIN WAY 7.500 3,496.07
79
7.250 3,496.07
640,000.00
LOS GATOS CA 95032 2 08/26/93
00
3217942 05 10/01/93
0
3217942 O 09/01/23
0
1455891 447/447 F 700,000.00
ZZ
MOLLER 360 682,493.92
1
330 CAJON STREET 8.000 5,136.35
70
7.750 5,136.35
1,000,000.00
LAGUNA BEACH CA 92651 2 05/14/93
00
3217947 05 07/01/93
0
3217947 O 06/01/23
0
1455892 447/447 F 230,000.00
ZZ
CHANG 360 224,996.67
1
10826 EAST ESTATES DRIVE 7.500 1,608.19
79
7.250 1,608.19
294,000.00
CUPERTINO CA 95014 2 08/16/93
00
3217948 05 10/01/93
0
3217948 O 09/01/23
0
1455893 447/447 F 214,000.00
ZZ
MACHADO 360 209,595.76
1
1
358 RANCH ACRES ROAD 8.000 1,570.26
80
7.750 1,570.26
267,500.00
TULARE CA 93274 2 07/01/93
00
3217953 05 09/01/93
0
3217953 O 08/01/23
0
1455894 447/447 F 132,000.00
ZZ
REBECCHI 360 129,420.20
1
576 BEMENT AVENUE 7.625 934.29
80
7.375 934.29
165,000.00
STATEN ISLAND NY 10310 2 10/13/93
00
3217954 05 12/01/93
0
3217954 O 11/01/23
0
1455895 447/447 F 270,000.00
ZZ
TOIA 360 264,126.39
1
7435 OGELSBY AVENUE 7.500 1,887.88
57
7.250 1,887.88
480,000.00
LOS ANGELES CA 90045 2 08/06/93
00
3217957 05 10/01/93
0
3217957 O 09/01/23
0
1455896 447/447 F 110,000.00
ZZ
FREY 360 101,530.48
1
2 COPPS HILL ROAD 8.000 803.49
57
7.750 803.49
196,000.00
RIDGEFIELD CT 06877 1 02/09/89
00
3217959 05 04/01/89
0
3217959 O 03/01/19
0
1455898 447/447 F 162,550.21
ZZ
KEIFER 317 154,856.68
1
2305 FALKIRK DRIVE 7.875 1,221.31
71
7.625 1,221.31
229,950.00
RICHMOND VA 23236 1 08/24/92
00
3217967 07 09/01/92
0
3217967 O 01/01/19
0
1455899 447/447 F 137,750.00
ZZ
MORROBEL 360 127,890.38
1
7307 ROOSEVELT AVE 8.000 1,017.34
95
7.750 1,017.34
145,000.00
FALLS CHURCH VA 22042 1 09/30/88
11
3217969 05 11/01/88
0
1
3217969 O 10/01/18
0
1455900 447/447 F 103,200.00
ZZ
DINGWELL 360 96,115.70
1
12605 OLD COUNTRY LANE 7.875 752.95
80
7.625 752.95
129,000.00
MIDLOTHIAN VA 23113 1 01/30/89
00
3217981 05 03/01/89
0
3217981 O 02/01/19
0
1455901 447/447 F 159,000.00
ZZ
ZANNINO 360 154,456.24
1
13 PULVER DRIVE 7.625 1,125.40
66
7.375 1,125.40
244,000.00
PEABODY MA 01960 2 10/29/93
00
3217984 05 01/01/94
0
3217984 O 12/01/23
0
1455902 447/447 F 100,000.00
ZZ
HAYDEN 360 94,360.58
1
121 RIVERVIEW COURT 7.500 699.22
80
7.250 699.22
125,000.00
SECAUCUS NJ 07094 1 06/17/93
00
3217986 01 08/01/93
0
3217986 O 07/01/23
0
1455903 447/447 F 244,300.00
ZZ
FRIES 360 238,639.21
1
6275 MOJAVE DRIVE 7.375 1,687.32
78
7.125 1,687.32
315,000.00
SAN JOSE CA 95120 2 07/23/93
00
3217988 05 09/01/93
0
3217988 O 08/01/23
0
1455904 447/447 F 344,000.00
ZZ
HATOT 360 336,781.40
1
8211 WOBURN ABBEY ROAD 7.250 2,346.69
88
7.000 2,346.69
395,000.00
GLENN DALE MD 20769 2 10/08/93
04
3217990 03 12/01/93
0
3217990 O 11/01/23
0
1
1455905 447/447 F 212,450.00
ZZ
WINTERS 360 207,804.78
1
22 STOWECROFT DRIVE 7.625 1,503.71
90
7.375 1,503.71
236,100.00
HAMPTON NH 03842 1 10/29/93
04
3217993 05 12/01/93
0
3217993 O 11/01/23
0
1455906 447/447 F 250,000.00
ZZ
GARVEY 360 244,745.01
1
6191 SANDPINE COURT 7.250 1,705.45
70
7.000 1,705.45
360,000.00
JUPITER FL 33458 1 10/29/93
00
3217996 07 12/01/93
0
3217996 O 11/01/23
0
1455907 447/447 F 185,500.00
ZZ
ALLEN 360 181,698.32
1
47 DOVER ROAD 7.375 1,281.21
70
7.125 1,281.21
265,000.00
WESTWOOD MA 02090 5 10/07/93
00
3217999 05 12/01/93
0
3217999 O 11/01/23
0
1455909 447/447 F 220,000.00
ZZ
BRYANT 360 214,878.00
1
462 WEST HAGLER AVENUE 7.750 1,576.11
68
7.500 1,576.11
325,000.00
FRESNO CA 93711 2 05/17/93
00
3218002 05 07/01/93
0
3218002 O 06/01/23
0
1455910 447/447 F 290,000.00
ZZ
WILCOX 360 283,914.43
1
10 EDELWEISS LANE 7.250 1,978.32
75
7.000 1,978.32
390,000.00
DARIEN CT 06820 5 10/20/93
00
3218006 05 12/01/93
0
3218006 O 11/01/23
0
1455911 447/447 F 128,000.00
ZZ
BROWN 360 125,497.98
1
13238 NANCY COURT 7.500 895.00
95
7.250 895.00
135,000.00
1
DALE CITY VA 22193 2 11/04/93
11
3218008 05 01/01/94
0
3218008 O 12/01/23
0
1455912 447/447 F 334,000.00
ZZ
HU 360 326,560.80
1
32574 BOWMAN KNOLL DRIVE 7.375 2,306.85
70
7.125 2,306.85
480,000.00
WESTLAKE VILLAG CA 91361 2 08/03/93
00
3218009 07 10/01/93
0
3218009 O 09/01/23
0
1455913 447/447 F 356,250.00
ZZ
CARLSON 360 347,955.94
1
2122 CENTURY PARK LANE #318 7.750 2,552.22
75
7.500 2,552.22
475,000.00
CENTURY CITY CA 90067 2 05/13/93
00
3218010 01 07/01/93
0
3218010 O 06/01/23
0
1455914 447/447 F 256,500.00
ZZ
D'ALBA 360 250,746.43
1
16 GRANITE RIDGE ROAD 7.750 1,837.60
90
7.500 1,837.60
285,000.00
REDDING CT 06875 1 06/11/93
04
3218014 05 08/01/93
0
3218014 O 07/01/23
0
1455915 447/447 F 232,000.00
ZZ
VANDERPOOLE 360 226,600.23
1
19431 RANCH LANE 7.750 1,662.08
73
7.500 1,662.08
320,000.00
HUNTINGTON BEAC CA 92648 2 05/14/93
00
3218016 01 07/01/93
0
3218016 O 06/01/23
0
1455916 447/447 F 286,000.00
ZZ
KELLY 360 279,431.19
1
280 FAIRVIEW AVENUE 7.625 2,024.29
67
7.375 2,024.29
432,000.00
BEN LOMOND CA 95005 2 06/01/93
00
3218018 05 08/01/93
0
3218018 O 07/01/23
0
1
1455917 447/447 F 350,000.00
ZZ
SCHMALZ 360 342,655.48
1
17 MIDDLETON LANE 7.250 2,387.62
79
7.000 2,387.62
443,500.00
NEW GARDEN TWSH PA 19350 2 10/15/93
00
3218019 05 12/01/93
0
3218019 O 11/01/23
0
1455919 447/447 F 406,000.00
ZZ
MULTHAUP 360 387,154.25
1
222 JULIA AVENUE 7.750 2,908.63
69
7.500 2,908.63
590,000.00
MILL VALLEY CA 94941 2 06/14/93
00
3218024 05 08/01/93
0
3218024 O 07/01/23
0
1455920 447/447 F 248,600.00
ZZ
ANDERSON 360 240,473.70
1
501 PRISCILLA LANE 7.750 1,781.00
71
7.500 1,781.00
355,000.00
WATERFORD CA 95386 5 05/14/93
00
3218026 05 07/01/93
0
3218026 O 06/01/23
0
1455921 447/447 F 250,000.00
ZZ
MCLAUGHLIN 360 244,978.70
1
7705 LAKE GLEN DRIVE 7.250 1,705.45
87
7.000 1,705.45
290,000.00
GLEN DALE MD 20769 2 11/05/93
04
3218028 05 01/01/94
0
3218028 O 12/01/23
0
1455922 447/447 F 396,000.00
ZZ
GUY 360 387,452.18
1
662 WILHAGGEN DRIVE 7.750 2,836.99
80
7.500 2,836.99
500,000.00
SACRAMENTO CA 95864 2 07/12/93
00
3218031 03 09/01/93
0
3218031 O 08/01/23
0
1455923 447/447 F 251,000.00
ZZ
O'HARA 360 244,280.75
1
1
12882 BUBBLING WELL ROAD 7.750 1,798.19
80
7.500 1,798.19
315,000.00
SANTA ANA CA 92705 2 06/04/93
00
3218033 05 08/01/93
0
3218033 O 07/01/23
0
1455924 447/447 F 269,500.00
ZZ
MAGER 360 262,360.52
1
559 DUBLIN WAY 7.750 1,930.73
74
7.500 1,930.73
365,000.00
SUNNYVALE CA 94087 2 06/21/93
00
3218043 05 08/01/93
0
3218043 O 07/01/23
0
1455925 447/447 F 350,700.00
ZZ
PIANIN 360 349,749.26
1
19 NORFIELD WOODS ROAD 8.000 2,573.32
74
7.750 2,573.32
475,000.00
WESTON CT 06883 2 08/02/95
00
3218457 05 09/01/95
0
3218457 O 08/01/25
0
1455926 447/447 F 211,500.00
ZZ
ANDERSON 360 210,026.86
1
4816 WEST 88TH STREET 7.875 1,752.65
90
7.625 1,752.65
235,000.00
SOUTH TULSA OK 74132 1 07/31/95
04
3218470 05 09/01/95
0
3218470 O 08/01/25
0
1455927 447/447 F 80,000.00
ZZ
TOMMARELLO 360 78,204.40
1
1210 BRAUN ROAD 7.750 573.13
64
7.500 573.13
125,000.00
BETHEL PARK PA 15102 1 06/11/93
00
3218662 05 08/01/93
0
3218662 O 07/01/23
0
1455928 447/447 F 70,000.00
ZZ
JETT 360 64,625.22
1
716 LOCUST AVENUE 7.250 482.15
73
7.000 482.15
96,500.00
CHARLOTTESVILLE VA 22901 5 11/10/88
00
3218708 05 01/01/89
0
1
3218708 O 12/01/18
0
1455931 447/447 F 66,400.00
ZZ
ROSS 360 58,952.97
1
1440 BOROUGHBRIDGE ROAD 7.625 463.69
95
7.375 463.69
69,950.00
RICHMOND VA 23225 1 11/07/88
10
3218773 05 01/01/89
0
3218773 O 12/01/18
0
1455932 447/447 F 65,700.00
ZZ
STAFFORD, 360 59,920.88
1
3501 SOUTHWOOD DR 7.875 476.95
36
7.625 476.95
184,000.00
EASTON PA 18042 1 01/29/88
00
3218909 05 03/01/88
0
3218909 O 02/01/18
0
1455933 447/447 F 367,200.00
ZZ
MANNING 360 366,397.61
1
42 BUCCANEER LANE 7.625 2,599.02
90
7.375 2,599.02
408,000.00
EAST SETAUKET NY 11733 1 08/21/95
14
3218917 05 10/01/95
0
3218917 O 09/01/25
0
1455934 447/447 F 260,000.00
ZZ
GRUNBECK 300 258,584.79
1
330 MILL STREET 8.125 2,028.30
75
7.875 2,028.30
349,500.00
HOLLISTON MA 01746 2 08/14/95
00
3219023 05 10/01/95
0
3219023 O 09/01/20
0
1455935 447/447 F 352,400.00
ZZ
HENRY 360 350,159.10
1
10424 CITY LIGHTS DRIVE 7.875 2,555.15
80
7.625 2,555.15
440,515.00
ALBUQUERQUE NM 87111 1 08/01/95
00
3219149 05 09/01/95
0
3219149 O 08/01/25
0
1
1455936 447/447 F 243,000.00
ZZ
GALVAN 360 242,518.73
1
5434 NORTH FRANSCISO 8.125 1,804.27
75
7.875 1,804.27
325,000.00
CHICAGO IL 60625 2 08/16/95
00
3219643 05 10/01/95
0
3219643 O 09/01/25
0
1455937 447/447 F 649,900.00
ZZ
BAUGHMAN 360 648,549.39
1
100 ATLANTA COUNTRY CLUB DR 7.875 4,712.23
55
7.625 4,712.23
1,203,000.00
MARIETTA GA 30067 2 08/25/95
00
3219691 05 10/01/95
0
3219691 O 09/01/25
0
1455938 447/447 F 228,000.00
ZZ
CREWS 360 227,350.05
1
4910 GENOA DRIVE 7.750 1,633.42
77
7.500 1,633.42
298,000.00
FERNANDINA BEAC FL 32034 1 07/24/95
00
3219806 05 09/01/95
0
3219806 O 08/01/25
0
1455939 447/447 F 268,000.00
ZZ
SHEADE 360 267,456.93
1
379 NORTH PONDVIEW DRIVE 8.000 1,966.49
67
7.750 1,966.49
405,000.00
PALATINE IL 60067 2 08/24/95
00
3219886 05 10/01/95
0
3219886 O 09/01/25
0
1455940 447/447 F 274,750.00
ZZ
SHERMAN 360 274,164.49
1
17813 MARBLE HILL PLACE 7.750 1,968.34
80
7.500 1,968.34
343,461.00
GERMANTOWN MD 20874 1 08/30/95
00
3219990 03 10/01/95
0
3219990 O 09/01/25
0
1455941 447/447 F 573,000.00
BB
PEARCE 360 571,838.86
1
3609 MARQUETTE 8.000 4,204.48
77
7.750 4,204.48
750,000.00
1
UNIVERSITY PARK TX 75223 2 08/09/95
00
3220232 05 10/01/95
0
3220232 O 09/01/25
0
1455942 447/447 F 209,250.00
T
HORKY III 360 208,682.71
1
5083 SOUTHERN HILLS LANE 8.000 1,535.41
90
7.750 1,535.41
232,500.00
LAS VEGAS NV 89113 1 08/02/95
21
3220429 03 09/01/95
0
3220429 O 08/01/25
0
1455943 447/447 F 400,000.00
ZZ
GRANHOLM 360 399,229.52
1
17447 BLUE HERON ROAD 8.250 3,005.07
61
8.000 3,005.07
658,600.00
LAKE OSWEGO OR 97034 1 08/01/95
00
3220796 05 10/01/95
0
3220796 O 09/01/25
0
1455944 447/447 F 281,000.00
ZZ
GORDON 360 280,485.68
1
5276 HEATHER LANE 8.500 2,160.65
88
8.250 2,160.65
320,000.00
PARK CITY UT 84060 1 08/31/95
21
3220808 05 10/01/95
0
3220808 O 09/01/25
0
1455945 447/447 F 216,000.00
ZZ
TWEEDIE 360 215,213.12
1
940 FERNWOOD ROAD 8.000 1,584.93
80
7.750 1,584.93
270,000.00
MOORESTOWN NJ 08057 1 07/28/95
00
3221158 05 09/01/95
0
3221158 O 08/01/25
0
1455946 447/447 F 211,500.00
ZZ
HAYDEN 360 211,060.44
1
109 MAYNARD STREET 7.875 1,533.53
90
7.625 1,533.53
235,000.00
NORTHBOROUGH MA 01532 1 08/09/95
21
3221373 05 10/01/95
0
3221373 O 09/01/25
0
1
1455947 447/447 F 225,000.00
ZZ
MCMAHON 360 223,891.47
1
7219 DANFORD LANE 7.500 1,573.24
75
7.250 1,573.24
301,950.00
SPRINGFIELD VA 22152 1 08/30/95
00
3221407 05 10/01/95
0
3221407 O 09/01/25
0
1455948 447/447 F 167,400.00
ZZ
KENNEDY 360 166,946.21
1
612 M STREET 8.000 1,228.32
90
7.750 1,228.32
186,000.00
ANCHORAGE AK 99501 1 07/14/95
01
3221442 05 09/01/95
0
3221442 O 08/01/25
0
1455949 447/447 F 170,000.00
ZZ
KATTINE 360 161,875.25
1
53 STURBRIDGE CIRCLE 7.375 1,174.15
53
7.125 1,174.15
324,000.00
WAYNE NY 07470 1 06/02/93
00
3221455 03 08/01/93
0
3221455 O 07/01/23
0
1455950 447/447 F 215,550.00
ZZ
KUNA 360 214,935.53
1
127 STONE RIDGE DRIVE 7.750 1,544.23
90
7.500 1,544.23
239,500.00
SNOHOMISH WA 98290 1 07/11/95
14
3221465 05 09/01/95
0
3221465 O 08/01/25
0
1455951 447/447 F 168,000.00
ZZ
PERRY 360 163,622.05
1
77 COVENTRY ROAD 7.375 1,160.34
66
7.125 1,160.34
255,000.00
WAYNE NJ 07470 2 10/25/93
00
3221468 05 12/01/93
0
3221468 O 11/01/23
0
1455952 447/447 F 104,000.00
ZZ
MILOSCIA 360 101,960.07
1
1
270 WEST 17TH STREET 17C 7.375 718.31
80
7.125 718.31
130,000.00
NEW YORK NY 10011 1 11/08/93
00
3221472 06 01/01/94
0
3221472 O 12/01/23
0
1455953 447/447 F 90,000.00
ZZ
RAHWAN 360 88,276.13
1
2 MARSAN LANE 7.500 629.30
44
7.250 629.30
208,000.00
SHARON MA 02067 5 10/29/93
00
3221528 05 01/01/94
0
3221528 O 12/01/23
0
1455954 447/447 F 320,000.00
ZZ
BIERHANS 360 312,474.79
1
4 GREEN LANE 7.500 2,237.49
59
7.250 2,237.49
550,000.00
CANTON MA 02021 2 06/11/93
00
3221543 05 08/01/93
0
3221543 O 07/01/23
0
1455955 447/447 F 479,500.00
ZZ
ROSENBERG 360 469,068.96
1
11642 TERRY HILL PLACE 7.500 3,352.73
70
7.250 3,352.73
685,000.00
LOS ANGELES CA 90049 1 08/06/93
00
3221555 05 10/01/93
0
3221555 O 09/01/23
0
1455956 447/447 F 139,000.00
ZZ
MCNAMARA 360 136,471.73
1
198 GROVE STREET 8.000 1,019.94
58
7.750 1,019.94
240,000.00
LEXINGTON MA 02173 2 10/18/93
00
3221565 05 12/01/93
0
3221565 O 11/01/23
0
1455957 447/447 F 136,000.00
ZZ
VITTA 360 126,852.78
1
190 ALEXANDER AVENUE 8.000 1,003.99
75
7.750 1,003.99
181,350.00
HOLBROOK NY 11741 1 01/18/89
00
3221588 05 03/01/89
0
1
3221588 O 02/01/19
0
1455958 447/447 F 151,000.00
ZZ
BERKER 360 148,118.36
1
119 LARKINS POND ROAD N. 7.750 1,081.79
67
7.500 1,081.79
228,000.00
SOUTH KINGSTOWN RI 02892 2 10/13/93
00
3221608 05 12/01/93
0
3221608 O 11/01/23
0
1455959 447/447 F 242,000.00
ZZ
BARTH 360 236,571.68
1
543 SEQUOIA DRIVE 7.750 1,733.72
75
7.500 1,733.72
325,000.00
SAN ANSELMO CA 94960 2 06/15/93
00
3221670 05 08/01/93
0
3221670 O 07/01/23
0
1455960 447/447 F 300,000.00
ZZ
SILVERA 360 293,056.83
1
220 EAST 65TH STREET UNIT 18G 7.625 2,123.39
75
7.375 2,123.39
405,000.00
NEW YORK NY 10021 1 06/09/93
00
3221693 06 08/01/93
0
3221693 O 07/01/23
0
1455961 447/447 F 214,000.00
ZZ
SICILIANO 360 209,315.28
1
12 LYNWOOD ROAD 7.250 1,459.86
80
7.000 1,459.86
267,500.00
CEDAR GROVE NJ 07009 1 09/20/93
00
3221742 05 11/01/93
0
3221742 O 10/01/23
0
1455962 447/447 F 342,000.00
ZZ
MARSHALL 360 341,271.17
1
95 CEDAR HILLS CIRCLE 7.750 2,450.13
68
7.500 2,450.13
510,000.00
CHAPEL HILL NC 27514 2 08/07/95
00
3221773 05 10/01/95
0
3221773 O 09/01/25
0
1
1455963 447/447 F 284,100.00
ZZ
LEE 360 283,310.21
1
29458 RED BUD HILL 7.875 2,059.92
80
7.625 2,059.92
355,147.00
FAIR OAKS RANCH TX 78006 1 07/17/95
00
3222024 03 09/01/95
0
3222024 O 08/01/25
0
1455964 447/447 F 350,000.00
ZZ
FONG 360 349,098.00
1
8418 NORTH PALMER ROAD 8.250 2,629.44
67
8.000 2,629.44
525,000.00
SPOKANE WA 99207 2 07/24/95
00
3222255 05 09/01/95
0
3222255 O 08/01/25
0
1455965 447/447 F 227,500.00
ZZ
BRYSLAWSKYJ 360 227,104.44
1
76 FERNALD ROAD 8.750 1,789.75
86
8.500 1,789.75
267,500.00
PARK RIDGE NJ 07656 1 08/30/95
21
3223917 05 10/01/95
0
3223917 O 09/01/25
0
1455966 447/447 F 292,200.00
ZZ
NEWBURGER 360 291,665.17
1
1724 PORTAGE RUN 8.500 2,246.77
90
8.250 2,246.77
325,000.00
GLENVIEW IL 60025 1 08/30/95
21
3224349 05 10/01/95
0
3224349 O 09/01/25
0
1455967 447/447 F 650,000.00
ZZ
LINDSAY 360 648,840.42
1
23632 NORTH PINNACLE PEAK CR 8.625 5,055.64
73
8.375 5,055.64
900,000.00
SCOTTSDALE AZ 85251 2 08/21/95
00
3224382 05 10/01/95
0
3224382 O 09/01/25
0
1455968 447/447 F 244,000.00
ZZ
GOLD 360 243,286.83
1
6724 38TH AVENUE SW 7.625 1,727.02
66
7.375 1,727.02
374,000.00
1
SEATTLE WA 98126 1 07/31/95
00
3225035 05 09/01/95
0
3225035 O 08/01/25
0
1455969 447/447 F 216,600.00
ZZ
SULLIVAN 360 216,343.32
1
3 ALLAIRE AVENUE 8.625 1,684.69
95
8.375 1,684.69
228,000.00
BRONXVILLE NY 10708 1 09/14/95
14
3225314 05 11/01/95
0
3225314 O 10/01/25
0
1455970 447/447 F 240,300.00
ZZ
COLLINS 360 239,968.15
1
2009 SHADOW LAKE DRIVE 7.875 1,742.35
90
7.625 1,742.35
267,000.00
EDMOND OK 73003 1 09/14/95
21
3225521 05 11/01/95
0
3225521 O 10/01/25
0
1455971 447/447 F 261,000.00
ZZ
EXBOM 360 260,674.41
1
3851 MONSERATE TERRACE 8.375 1,983.79
90
8.125 1,983.79
290,000.00
FALLBROOK CA 92028 1 09/07/95
11
3225794 05 11/01/95
0
3225794 O 10/01/25
0
1455972 447/447 F 262,000.00
ZZ
THORNE 360 261,469.06
1
7 LANDING 8.000 1,922.47
80
7.750 1,922.47
327,500.00
LAGUNA NIGUEL CA 92677 1 08/08/95
00
3226777 03 10/01/95
0
3226777 O 09/01/25
0
1455974 447/447 F 600,000.00
T
PAKOS 360 598,688.89
1
395 DEEP NECK ROAD 7.625 4,246.77
75
7.375 4,246.77
800,000.00
COROLLA NC 27927 2 08/11/95
00
3226973 05 10/01/95
0
3226973 O 09/01/25
0
1
1455975 447/447 F 225,600.00
ZZ
FICKES 360 225,311.29
1
7454 EAST BLACK ROCK ROAD 8.250 1,694.86
85
8.000 1,694.86
265,500.00
SCOTTSDALE AZ 85255 1 09/06/95
10
3227230 03 11/01/95
0
3227230 O 10/01/25
0
1455976 447/447 F 302,500.00
ZZ
RAETH 360 301,526.21
1
3369 DYER DRIVE 8.375 2,299.22
72
8.125 2,299.22
425,000.00
LAFAYETTE CA 94549 2 08/07/95
00
3227511 05 10/01/95
0
3227511 O 09/01/25
0
1455977 447/447 F 212,000.00
ZZ
BRONSON, 360 211,453.63
1
10811 NORTH BANK ROAD 8.250 1,592.69
70
8.000 1,592.69
304,000.00
RICHMOND VA 23233 2 07/24/95
00
3228113 05 09/01/95
0
3228113 O 08/01/25
0
1455978 447/447 F 469,000.00
ZZ
BENNETT 360 468,368.52
1
515 COLONIAL AVENUE 8.000 3,441.36
80
7.750 3,441.36
586,250.00
WESTFIELD NJ 07090 1 09/20/95
00
3228661 05 11/01/95
0
3228661 O 10/01/25
0
1455979 447/447 F 287,700.00
ZZ
BAKER 360 286,156.29
1
1403 RIDGETREE TRAILS DRIVE 8.375 2,186.73
70
8.125 2,186.73
411,012.00
BALLWIN MO 63021 1 08/31/95
00
3229157 05 10/01/95
0
3229157 O 09/01/25
0
1455980 447/447 F 290,205.32
ZZ
BROUSSARD 346 289,581.70
1
1
402 WATERSIDE 8.000 2,150.52
89
7.750 2,150.52
327,500.00
LAFAYETTE LA 70503 1 07/13/95
04
3229248 05 09/01/95
0
3229248 O 06/01/24
0
1455981 447/447 F 615,000.00
ZZ
WILSON 360 613,874.35
1
1801 FLETCHER WAY 8.500 4,728.82
56
8.250 4,728.82
1,100,000.00
SANTA YNEZ CA 93460 2 08/28/95
00
3229319 03 10/01/95
0
3229319 O 09/01/25
0
1455982 447/447 F 337,750.00
ZZ
BECKER 360 336,811.02
1
3882 CLIFTON MANOR PLACE 7.875 2,448.93
90
7.625 2,448.93
375,320.00
HAYMARKET VA 22069 1 07/26/95
12
3229429 03 09/01/95
0
3229429 O 08/01/25
0
1455983 447/447 F 232,000.00
ZZ
DOWLER 360 231,732.07
1
601 LACROSSE PLACE 8.750 1,825.14
70
8.500 1,825.14
335,000.00
ESCONDIDO CA 92025 2 09/12/95
00
3229842 05 11/01/95
0
3229842 O 10/01/25
0
1455984 447/447 F 257,850.00
BB
BOONE 360 257,101.47
1
9329 318TH PLACE NE 8.000 1,892.02
90
7.750 1,892.02
286,500.00
CARNATION WA 98014 1 09/08/95
21
3230757 03 11/01/95
0
3230757 O 10/01/25
0
1455985 447/447 F 247,500.00
ZZ
DE 360 246,878.18
1
3030 OAK AVENUE 8.375 1,881.18
90
8.125 1,881.18
275,000.00
CORONA CA 91720 1 07/27/95
12
3230838 05 09/01/95
0
1
3230838 O 08/01/25
0
1455986 447/447 F 250,000.00
ZZ
LUTZ 360 249,559.59
1
911 NORTH RICHMAN AVENUE 8.750 1,966.75
93
8.500 1,966.75
269,500.00
FULLERTON CA 92632 1 08/09/95
12
3230922 05 10/01/95
0
3230922 O 09/01/25
0
1455987 447/447 F 352,000.00
ZZ
LOPEZ 360 351,355.71
1
105 RED GATE LANE 8.500 2,706.58
80
8.250 2,706.58
440,000.00
READING MA 01867 1 08/23/95
00
3231193 05 10/01/95
0
3231193 O 09/01/25
0
1455988 447/447 F 450,000.00
ZZ
BINGHAM 360 449,266.43
1
5 DOUGHIL COURT 8.375 3,420.33
56
8.125 3,420.33
810,000.00
HOLMDEL NJ 07737 2 09/07/95
00
3231336 05 11/01/95
0
3231336 O 10/01/25
0
1455990 447/447 F 239,800.00
ZZ
LOVEJOY 360 239,276.01
1
13853 STONEBROOK COURT 7.625 1,697.29
80
7.375 1,697.29
299,800.00
CLIFFTON VA 22024 1 08/25/95
00
3233201 03 10/01/95
0
3233201 O 09/01/25
0
1455991 447/447 F 247,500.00
ZZ
MUSSELMAN 360 247,206.71
1
5517 NORTH LAKEWOOD 8.625 1,925.03
90
8.375 1,925.03
275,000.00
CHICAGO IL 60640 1 09/06/95
11
3234527 05 11/01/95
0
3234527 O 10/01/25
0
1
1455992 447/447 F 282,750.00
ZZ
PHIPPS 360 281,963.97
1
4090 BALLYCASTLE LANE 7.875 2,050.13
80
7.625 2,050.13
353,445.00
DULUTH GA 30136 1 07/24/95
00
3234559 03 09/01/95
0
3234559 O 08/01/25
0
1455993 447/447 F 552,000.00
ZZ
WOLFSON 360 550,473.03
1
6 CREST ROAD 8.500 4,244.40
69
8.250 4,244.40
800,000.00
ROSS CA 94957 2 08/04/95
00
3234789 05 10/01/95
0
3234789 O 09/01/25
0
1455994 447/447 F 150,000.00
ZZ
MURRAY 360 141,649.93
1
9 HYANNIS CIR 7.875 1,094.76
70
7.625 1,094.76
217,000.00
SALINAS CA 92186 1 04/23/90
00
3234972 05 06/01/90
0
3234972 O 05/01/20
0
1455995 447/447 F 124,800.00
ZZ
HECHT 360 117,054.57
1
3447 SANTIAGO DR 7.375 872.42
80
7.125 872.42
156,000.00
SANTA ROSA CA 95401 1 12/13/89
00
3235021 05 02/01/90
0
3235021 O 01/01/20
0
1455996 447/447 F 180,827.36
ZZ
MAITLAND 311 175,569.43
1
913 PROVINCETOWN DR 7.355 1,303.16
77
7.105 1,303.16
236,047.00
SALINAS CA 93906 1 02/08/94
00
3235071 05 04/01/94
0
3235071 O 02/01/20
0
1455997 447/447 F 187,600.00
ZZ
EIDER-ORLEY 360 177,017.88
1
43044 N FLEMING SPRINGS RD 8.500 1,444.13
76
8.250 1,444.13
248,000.00
1
CAVE CREEK AZ 85331 1 12/21/89
00
3235122 05 02/01/90
0
3235122 O 01/01/20
0
1455998 447/447 F 160,000.00
ZZ
MAUTONE 360 147,549.77
1
195 WOOSTER ST 8.500 1,238.68
80
8.250 1,238.68
200,000.00
NEW HAVEN CT 06511 1 10/06/87
00
3235129 01 12/01/87
0
3235129 O 11/01/17
0
1455999 447/447 F 249,300.00
ZZ
ANDERSON 360 224,981.67
1
3162 HAMLINE AVE N 8.500 1,921.52
75
8.250 1,921.52
333,000.00
ARDEN HILLS MN 55112 1 10/30/87
00
3235135 05 12/01/87
0
3235135 O 11/01/17
0
1456000 447/447 F 343,800.00
ZZ
GOLDSTEIN 360 343,085.52
1
710 SOUTH ATLANTIC AVE 7.875 2,492.79
66
7.625 2,492.79
525,000.00
VIRGINIA BEACH VA 23451 2 08/01/95
00
3235675 05 10/01/95
0
3235675 O 09/01/25
0
1456001 447/447 F 253,350.00
ZZ
SCHREIBER 360 252,810.06
1
10014 SOUTH 175TH CIRCLE 7.750 1,815.04
90
7.500 1,815.04
281,500.00
OMAHA NE 68136 1 08/31/95
12
3235689 05 10/01/95
0
3235689 O 09/01/25
0
1456002 447/447 F 42,000.00
ZZ
STEPHENS 360 33,443.66
1
57946 EL DORADO DR 11.500 416.22
66
11.250 416.22
64,400.00
YUCCA VALLEY CA 92284 1 08/07/79
00
3236078 05 10/01/79
0
3236078 O 09/01/09
0
1
1456003 447/447 F 60,000.00
ZZ
ST 360 51,997.72
1
795 CHESAPEAKE DR 8.625 458.60
73
8.375 458.60
83,000.00
SHELTON WA 98584 5 07/20/87
00
3236137 05 09/01/87
0
3236137 O 08/01/17
0
1456004 447/447 F 79,000.00
ZZ
BRIGGS 360 72,905.55
1
420 KENT DR 8.500 609.68
72
8.250 609.68
110,000.00
DALLASTOWN PA 17313 1 01/22/88
00
3236146 05 03/01/88
0
3236146 O 02/01/18
0
1456005 447/447 F 650,000.00
ZZ
WILLIAMS 360 649,056.11
1
40 FOSTER STREET 7.625 4,600.66
44
7.375 4,600.66
1,500,000.00
MARBLEHEAD MA 01945 2 09/25/95
00
3236173 05 11/01/95
0
3236173 O 10/01/25
0
1456006 447/447 F 50,000.00
ZZ
ABAYA 360 49,064.88
1
46 ST LAWRENCE WAY 7.625 353.90
25
7.375 353.90
207,000.00
MARLBORO TWNSHP NJ 07746 5 11/01/93
00
3236302 05 01/01/94
0
3236302 O 12/01/23
0
1456007 447/447 F 80,000.00
ZZ
BAUMEISTER 360 78,436.38
1
11 CLAYTON STREET 7.625 566.24
69
7.375 566.24
117,000.00
LYNN MA 01904 2 10/22/93
00
3236344 05 12/01/93
0
3236344 O 11/01/23
0
1456008 447/447 F 80,250.00
ZZ
HOLT JR 360 74,532.43
1
1
8648 TRENT ROAD 8.250 605.60
95
8.000 605.60
84,500.00
RICHMOND VA 23235 1 12/20/88
04
3236350 05 02/01/89
0
3236350 O 01/01/19
0
1456009 447/447 F 221,750.00
ZZ
DUKE 360 221,322.85
1
801 OAKCREST COURT 8.250 1,665.94
80
8.000 1,665.94
277,200.00
SOUTH LAKE TX 76092 1 08/30/95
00
3236381 05 10/01/95
0
3236381 O 09/01/25
0
1456010 447/447 F 238,700.00
ZZ
SALTER 360 238,036.42
1
3192 EAGLE WATCH DRIVE 7.875 1,730.74
71
7.625 1,730.74
340,000.00
WOODSTOCK GA 30188 5 07/26/95
00
3236782 03 09/01/95
0
3236782 O 08/01/25
0
1456011 447/447 F 348,000.00
ZZ
KANG 360 347,565.89
1
1329 BALMORAL DRIVE 8.375 2,645.05
73
8.125 2,645.05
480,000.00
GLENDALE CA 91207 2 09/01/95
00
3236840 05 11/01/95
0
3236840 O 10/01/25
0
1456012 447/447 F 217,000.00
ZZ
DALE 360 216,622.69
1
926 S HIGHLAND AVENUE 8.750 1,707.14
86
8.500 1,707.14
255,000.00
LOS ANGELES CA 90036 2 08/11/95
01
3236953 05 10/01/95
0
3236953 O 09/01/25
0
1456013 447/447 F 233,500.00
ZZ
MARASIGAN 360 232,981.56
1
16541 HANNAH DRIVE 8.500 1,795.42
85
8.250 1,795.42
275,000.00
SAN LEANDRO CA 94578 2 08/15/95
12
3236983 05 10/01/95
0
1
3236983 O 09/01/25
0
1456014 447/447 F 332,000.00
ZZ
PENG 360 331,376.56
1
19651 ISLAND BAY LANE 8.375 2,523.45
75
8.125 2,523.45
445,000.00
HUNTINGTON BEAC CA 92648 1 08/03/95
00
3237107 05 10/01/95
0
3237107 O 09/01/25
0
1456015 447/447 F 272,000.00
BB
CURRY 360 271,685.86
1
6 MONTICELLO 8.750 2,139.83
90
8.500 2,139.83
305,000.00
IRVINE CA 92720 2 09/11/95
01
3237297 05 11/01/95
0
3237297 O 10/01/25
0
1456016 447/447 F 230,000.00
ZZ
GAUL 360 229,556.96
1
235 PHOTINIA PLACE 8.250 1,727.92
74
8.000 1,727.92
315,000.00
PETALUMA CA 94952 2 08/22/95
00
3237514 03 10/01/95
0
3237514 O 09/01/25
0
1456018 447/447 F 218,650.00
BB
ALVARADO 360 218,316.15
1
967 HEATHER LANE 9.375 1,818.62
90
9.125 1,818.62
242,950.00
SAN LORENZO CA 94580 1 08/15/95
11
3238059 03 10/01/95
0
3238059 O 09/01/25
0
1456019 447/447 F 230,000.00
ZZ
SONG 360 229,600.12
1
7717 FINEVALE DRIVE 8.750 1,809.41
87
8.500 1,809.41
265,000.00
DOWNEY CA 90240 2 08/22/95
12
3238079 05 10/01/95
0
3238079 O 09/01/25
0
1
1456020 447/447 F 300,000.00
ZZ
GARGUS 360 297,885.58
1
7879 UNBRIDLED CT. 7.875 2,175.21
80
7.625 2,175.21
375,000.00
MANASSAS VA 22111 1 07/31/95
00
3238645 05 09/01/95
0
3238645 O 08/01/25
0
1456021 447/447 F 400,000.00
ZZ
GODBEY 360 398,390.85
1
801 RODEO ROAD 8.375 3,040.29
80
8.125 3,040.29
500,000.00
FULLERTON CA 92635 1 07/28/95
00
3239344 05 09/01/95
0
3239344 O 08/01/25
0
1456022 447/447 F 249,850.00
ZZ
SCOTT 360 249,206.11
1
7612 SURREY LANE 8.250 1,877.04
95
8.000 1,877.04
263,000.00
OAKLAND CA 94605 1 07/28/95
14
3239618 03 09/01/95
0
3239618 O 08/01/25
0
1456023 447/447 F 245,100.00
ZZ
TRIA 360 244,715.85
1
589 OVERLOOK DRIVE 9.250 2,016.38
95
9.000 2,016.38
258,000.00
WYCKOFF NJ 07481 1 08/01/95
01
3239637 05 10/01/95
0
3239637 O 09/01/25
0
1456024 447/447 F 303,750.00
ZZ
KELLEY 360 302,926.57
1
1717 CALAVERA PLACE 8.000 2,228.81
90
7.750 2,228.81
337,500.00
FULLERTON CA 92633 1 07/28/95
04
3239665 05 09/01/95
0
3239665 O 08/01/25
0
1456025 447/447 F 269,750.00
ZZ
HOWARD 360 269,189.43
1
20781 SNOWPINE PLACE 7.875 1,955.87
95
7.625 1,955.87
283,990.00
1
ASHBURN VA 22011 1 08/30/95
14
3239751 03 10/01/95
0
3239751 O 09/01/25
0
1456026 447/447 F 240,000.00
ZZ
RITTER 360 239,488.55
1
202 ELMAR DRIVE S.E. 7.750 1,719.39
59
7.500 1,719.39
410,000.00
VIENNA VA 22180 1 08/08/95
00
3239756 05 10/01/95
0
3239756 O 09/01/25
0
1456027 447/447 F 500,000.00
ZZ
HASTINGS 360 499,392.05
1
2715 SOUTH ZUNIS AVENUE 8.500 3,844.57
80
8.250 3,844.57
625,000.00
TULSA OK 74114 2 09/06/95
00
3240770 05 11/01/95
0
3240770 O 10/01/25
0
1456028 447/447 F 312,000.00
ZZ
FUCHS 360 311,367.75
1
1427 SIXTH AVENUE 8.000 2,289.35
80
7.750 2,289.35
390,000.00
SAN FRANCISCO CA 94122 1 08/24/95
00
3241393 07 10/01/95
0
3241393 O 09/01/25
0
1456029 447/447 F 288,000.00
ZZ
KHACHATRIAN 360 287,631.44
1
5066 LOS FELIZ BOULEVARD 8.250 2,163.65
70
8.000 2,163.65
415,000.00
LOS ANGELES CA 90027 2 09/22/95
00
3241556 05 11/01/95
0
3241556 O 10/01/25
0
1456030 447/447 F 305,000.00
ZZ
OTT 360 304,518.83
1
1372 LENNOX LANE 8.375 2,318.22
68
8.125 2,318.22
455,000.00
LIVERMORE CA 94550 2 09/06/95
00
3242200 05 11/01/95
0
3242200 O 10/01/25
0
1
1456031 447/447 F 231,000.00
ZZ
DEANS 360 230,373.78
1
1816 COUNTY LINE ROAD 8.000 1,695.00
67
7.750 1,695.00
347,000.00
ACWORTH GA 30101 2 07/27/95
00
3242286 05 09/01/95
0
3242286 O 08/01/25
0
1456032 447/447 F 256,800.00
ZZ
WILLIAMS 360 256,292.61
1
106 HARDY ROAD 8.125 1,906.74
80
7.875 1,906.74
321,000.00
FALMOUTH ME 04105 1 08/24/95
00
3243036 05 10/01/95
0
3243036 O 09/01/25
0
1456034 447/447 F 209,000.00
ZZ
ELIN 360 208,745.88
1
14697 FIELDFLOWER CIRCLE 8.500 1,607.03
95
8.250 1,607.03
222,000.00
CHINO HILLS CA 91709 1 09/18/95
10
3243723 05 11/01/95
0
3243723 O 10/01/25
0
1456035 447/447 F 263,000.00
ZZ
WEITZEL 360 262,453.45
1
37 GOODNOW LANE 7.875 1,906.93
80
7.625 1,906.93
328,815.00
FRAMINGHAM MA 01701 1 08/18/95
00
3244443 05 10/01/95
0
3244443 O 09/01/25
0
1456036 447/447 F 450,000.00
ZZ
COHEN 360 448,717.20
1
5825 WINTERHUR DRIVE 7.750 3,223.86
69
7.500 3,223.86
653,000.00
ATLANTA GA 30328 2 07/26/95
00
3244455 03 09/01/95
0
3244455 O 08/01/25
0
1456037 447/447 F 300,000.00
ZZ
ASHFORD 360 299,229.53
1
1
1758 N. WINDES DRIVE 8.250 2,253.80
50
8.000 2,253.80
610,000.00
ORANGE CA 92669 5 08/24/95
00
3245819 05 10/01/95
0
3245819 O 09/01/25
0
1456038 447/447 F 540,000.00
ZZ
ARMENDARIZ, 360 539,061.11
1
5645 E. EXETER BLVD. 8.750 4,248.19
80
8.500 4,248.19
675,000.00
PHOENIX AZ 85018 1 08/24/95
00
3247322 05 10/01/95
0
3247322 O 09/01/25
0
1456039 447/447 F 214,850.00
ZZ
HAWKINS 360 214,456.74
1
2354 PACER DRIVE 8.500 1,652.01
90
8.250 1,652.01
238,732.00
NORCO CA 91760 1 08/16/95
12
3247414 05 10/01/95
0
3247414 O 09/01/25
0
1456040 447/447 F 220,800.00
ZZ
GOODWIN 360 220,531.53
1
1309 GLENBROOK WAY 8.500 1,697.76
80
8.250 1,697.76
276,000.00
MODESTO CA 95355 1 09/18/95
00
3247946 05 11/01/95
0
3247946 O 10/01/25
0
1456041 447/447 F 212,800.00
ZZ
D'ANDREA 360 212,410.50
1
1419 BOULDER COURT 8.500 1,636.25
80
8.250 1,636.25
266,000.00
HUDSON WI 54016 1 08/24/95
00
3248503 05 10/01/95
0
3248503 O 09/01/25
0
1456042 447/447 F 496,000.00
ZZ
SANDERS 360 494,916.17
1
6515 HEATHER BROOK COURT 7.625 3,510.66
80
7.375 3,510.66
620,000.00
MCLEAN VA 22101 1 08/30/95
00
3248868 05 10/01/95
0
1
3248868 O 09/01/25
0
1456043 447/447 F 314,700.00
ZZ
SABO 360 314,307.42
1
10961 N.W. 3 STREET 8.375 2,391.95
90
8.125 2,391.95
349,748.00
PLANTATION FL 33324 1 09/08/95
10
3248977 03 11/01/95
0
3248977 O 10/01/25
0
1456044 447/447 F 270,000.00
ZZ
HARRIS 360 269,636.45
1
793 SALEM STREET 8.000 1,981.17
90
7.750 1,981.17
300,000.00
NORTH ANDOVER MA 01845 1 09/15/95
01
3249723 05 11/01/95
0
3249723 O 10/01/25
0
1456045 447/447 F 420,000.00
T
BICKERSTAFF 360 419,211.34
1
HUDSON AND SACO AVENUES 8.375 3,192.31
75
8.125 3,192.31
560,000.00
OAK BLUFFS MA 02557 1 08/11/95
00
3251786 05 10/01/95
0
3251786 O 09/01/25
0
1456046 447/447 F 247,000.00
ZZ
GALLAGHER 360 246,621.28
1
764 BELVIDERE AVENUE 8.875 1,965.25
95
8.625 1,965.25
260,000.00
WESTFIELD NJ 07090 1 09/22/95
19
3252598 05 11/01/95
0
3252598 O 10/01/25
0
1456047 447/447 F 238,900.00
ZZ
CASTILLO 360 238,403.53
1
291 CAMPANA AVE 7.875 1,732.19
90
7.625 1,732.19
266,000.00
DALY CITY CA 94015 1 08/01/95
14
3253116 05 10/01/95
0
3253116 O 09/01/25
0
1
1456048 447/447 F 280,000.00
ZZ
CARLSON 360 274,877.21
1
17982 BEARDSLEY STREET 7.250 1,910.09
60
7.000 1,910.09
470,000.00
CASTRO VALLEY CA 94546 5 01/12/94
00
3253261 05 03/01/94
0
3253261 O 02/01/24
0
1456049 447/447 F 222,400.00
ZZ
WEINER 360 221,949.34
1
434 RIDGEWOOD AVENUE 8.000 1,631.89
80
7.750 1,631.89
278,000.00
GLEN RIDGE NJ 07028 1 08/31/95
00
3253287 05 10/01/95
0
3253287 O 09/01/25
0
1456050 447/447 F 251,250.00
ZZ
HEINTZ 360 247,677.46
1
3216 COQUELIN TERRACE 7.750 1,799.99
75
7.500 1,799.99
335,000.00
CHEVY CHASE MD 20815 5 04/27/94
00
3253301 05 06/01/94
0
3253301 O 05/01/24
0
1456051 447/447 F 275,000.00
ZZ
OFFNER 360 274,639.00
1
13321 BINNEY STREET 8.125 2,041.87
42
7.875 2,041.87
666,000.00
OMAHA NE 68154 2 09/22/95
00
3253334 03 11/01/95
0
3253334 O 10/01/25
0
1456052 447/447 F 219,920.00
ZZ
LUCIA 360 219,631.31
1
60 DANIELLE DR 8.125 1,632.90
80
7.875 1,632.90
274,900.00
TEWKSBURY MA 01876 1 09/07/95
00
3253542 05 11/01/95
0
3253542 O 10/01/25
0
1456053 447/447 F 238,000.00
ZZ
LEFEBVRE 360 236,998.81
1
18 MUNSEY DRIVE 7.875 1,725.67
76
7.625 1,725.67
315,000.00
1
HAMPTON NH 03842 2 08/25/95
00
3254194 05 10/01/95
0
3254194 O 09/01/25
0
1456054 447/447 F 225,500.00
ZZ
GRAVES 360 225,065.63
1
504 EAST TERRACE COURT 8.250 1,694.11
80
8.000 1,694.11
281,900.00
WOODSTOCK GA 30189 1 08/31/95
00
3254275 05 10/01/95
0
3254275 O 09/01/25
0
1456055 447/447 F 308,000.00
ZZ
WOOD 360 307,625.49
1
104 WIGEON STREET 8.500 2,368.26
77
8.250 2,368.26
400,000.00
KYLE TX 78640 2 09/05/95
00
3254365 05 11/01/95
0
3254365 O 10/01/25
0
1456056 447/447 F 230,000.00
ZZ
UMPHRESS 360 229,705.65
1
17745 JOHN TELFER DR 8.250 1,727.92
58
8.000 1,727.92
400,000.00
MORGAN HILLS CA 95037 2 09/13/95
00
3254732 05 11/01/95
0
3254732 O 10/01/25
0
1456057 447/447 F 336,000.00
ZZ
FLORENCE 360 335,499.72
1
3205 NAVY DRIVE 7.500 2,349.36
80
7.250 2,349.36
420,000.00
HERNDON VA 22071 1 09/09/95
00
3255137 03 11/01/95
0
3255137 O 10/01/25
0
1456058 447/447 F 293,460.00
ZZ
ANKROM 360 293,084.45
1
8672 E. ASTER DR. 8.250 2,204.67
80
8.000 2,204.67
366,825.00
SCOTTSDALE AZ 85260 1 09/27/95
00
3255816 03 11/01/95
0
3255816 O 10/01/25
0
1
1456059 447/447 F 280,000.00
ZZ
NIDETZ 360 279,253.47
1
2634 CHAUCER PLACE 8.625 2,177.81
80
8.375 2,177.81
350,000.00
THOUSAND OAKS CA 91362 1 08/17/95
00
3256051 03 10/01/95
0
3256051 O 09/01/25
0
1456060 447/447 F 350,000.00
ZZ
BETZING 360 349,272.65
1
2131 F STREET 7.875 2,537.74
58
7.625 2,537.74
607,000.00
SACRAMENTO CA 95816 2 08/16/95
00
3256081 05 10/01/95
0
3256081 O 09/01/25
0
1456061 447/447 F 368,000.00
ZZ
CROUCH 360 367,308.99
1
9940 QUAIL CANYON ROAD 8.375 2,797.07
80
8.125 2,797.07
460,000.00
EL CAJON CA 92021 2 08/18/95
00
3256608 05 10/01/95
0
3256608 O 09/01/25
0
1456062 447/447 F 245,000.00
ZZ
MILLS 360 244,228.55
1
1206 3RD AVENUE 7.250 1,671.33
64
7.000 1,671.33
385,000.00
LONGMONT CO 80501 1 07/14/95
00
3257110 05 09/01/95
0
3257110 O 08/01/25
0
1456063 447/447 F 260,800.00
ZZ
SEGAL 360 260,466.24
1
7763 SHAUGHNESSY RD 8.250 1,959.31
80
8.000 1,959.31
326,000.00
EDINA MN 55439 1 09/28/95
00
3257398 03 11/01/95
0
3257398 O 10/01/25
0
1456064 447/447 F 622,000.00
ZZ
HOWARD 360 620,270.81
1
1
5725 EAST CORSO DI NAPOLI 7.875 4,509.94
75
7.625 4,509.94
840,000.00
LONG BEACH CA 90803 2 07/17/95
00
3257531 05 09/01/95
0
3257531 O 08/01/25
0
1456065 447/447 F 544,000.00
ZZ
COHEN 360 543,054.19
1
2541 TAMARACK AVENUE 8.750 4,279.65
80
8.500 4,279.65
680,000.00
BOULDER CO 80304 1 08/28/95
00
3258188 05 10/01/95
0
3258188 O 09/01/25
0
1456066 447/447 F 275,000.00
ZZ
BRANDES 360 274,065.03
1
3 REGINE ROAD 8.000 2,017.85
29
7.750 2,017.85
950,000.00
HARRISON NY 10528 1 06/30/95
00
3258649 05 08/01/95
0
3258649 O 07/01/25
0
1456067 447/447 F 277,500.00
ZZ
EIKENBERRY 360 276,747.72
1
15 LYNWOOD LANE 8.000 2,036.20
86
7.750 2,036.20
323,000.00
WESTFORD MA 01886 2 07/31/95
10
3258996 05 09/01/95
0
3258996 O 08/01/25
0
1456068 447/447 F 223,250.00
ZZ
MUNOZ 360 223,005.20
1
1 ALBERT COURT 9.000 1,796.32
95
8.750 1,796.32
235,000.00
VALLEY STREAM NY 11580 1 09/08/95
04
3259078 05 11/01/95
0
3259078 O 10/01/25
0
1456069 447/447 F 300,000.00
ZZ
JONES 360 299,644.49
1
3870 CARISBROOKE DRIVE 8.625 2,333.37
90
8.375 2,333.37
334,050.00
BIRMINGHAM AL 35226 1 09/15/95
04
3259284 05 11/01/95
0
1
3259284 O 10/01/25
0
1456070 447/447 F 370,000.00
ZZ
CALLISON 360 369,526.50
1
3009 EDMONTON ROAD 8.250 2,779.69
80
8.000 2,779.69
462,500.00
GLENDALE CA 91206 1 09/07/95
00
3259822 05 11/01/95
0
3259822 O 10/01/25
0
1456071 447/447 F 349,900.00
ZZ
SODIPO 360 349,416.82
1
325 GINGER COURT 7.875 2,537.02
80
7.625 2,537.02
437,498.00
SAN RAMON CA 94583 1 09/13/95
00
3260107 05 11/01/95
0
3260107 O 10/01/25
0
1456072 447/447 F 300,000.00
ZZ
DUDLEY 360 299,407.28
1
1634 RIGGS PLACE NW 8.125 2,227.49
80
7.875 2,227.49
375,000.00
WASHINGTON DC 20009 1 08/31/95
00
3260297 05 10/01/95
0
3260297 O 09/01/25
0
1456073 447/447 F 313,500.00
ZZ
PLACE 360 312,926.20
1
9539 STEIN ROAD 8.500 2,410.54
75
8.250 2,410.54
418,000.00
CUSTER WA 98240 5 08/23/95
00
3260530 05 10/01/95
0
3260530 O 09/01/25
0
1456074 447/447 F 222,950.00
ZZ
BROWN 360 222,541.94
1
809 HEDGEROW COURT 8.500 1,714.29
95
8.250 1,714.29
234,718.00
CHESAPEAKE VA 23320 1 09/05/95
11
3260561 03 10/01/95
0
3260561 O 09/01/25
0
1
1456075 447/447 F 227,200.00
ZZ
DEBLASIO 360 226,909.24
1
15408 WEST ELLSWORTH DRIVE 8.250 1,706.88
80
8.000 1,706.88
284,000.00
GOLDEN CO 80401 1 09/26/95
00
3260934 03 11/01/95
0
3260934 O 10/01/25
0
1456076 447/447 F 301,000.00
ZZ
CHUNG 360 300,528.26
1
782 W. WOODCREST AVENUE 9.250 2,476.25
90
9.000 2,476.25
335,000.00
BREA CA 92621 1 08/23/95
12
3261124 05 10/01/95
0
3261124 O 09/01/25
0
1456077 447/447 F 209,000.00
ZZ
POCKER 360 208,752.31
1
18680 KANABEC TRAIL 8.625 1,625.59
95
8.375 1,625.59
220,000.00
LAKEVILLE MN 55044 1 09/05/95
11
3261157 05 11/01/95
0
3261157 O 10/01/25
0
1456078 447/447 F 452,000.00
ZZ
SCHMIDT 360 451,421.56
1
148 HICKORY CREEK CIRCLE 8.250 3,395.73
80
8.000 3,395.73
570,000.00
LITTLE ROCK AR 72212 1 09/26/95
00
3261323 05 11/01/95
0
3261323 O 10/01/25
0
1456079 447/447 F 385,000.00
ZZ
DUMMER 360 384,295.32
1
2058 EAST OAK MANOR DRIVE 8.500 2,960.32
67
8.250 2,960.32
575,000.00
SANDY UT 84092 2 08/25/95
00
3262160 05 10/01/95
0
3262160 O 09/01/25
0
1456080 447/447 F 259,800.00
ZZ
MONDRO 360 259,458.95
1
13 STEEPLE CHASE CIR 8.125 1,929.01
80
7.875 1,929.01
324,818.00
1
WESTFORD MA 01886 1 09/29/95
00
3262836 05 11/01/95
0
3262836 O 10/01/25
0
1456081 447/447 F 328,000.00
ZZ
MCDERMOTT 360 327,227.74
1
6873 N. WASHINGTON BLVD. 7.250 2,237.54
80
7.000 2,237.54
410,185.00
ARLINGTON VA 22213 1 08/14/95
00
3264518 05 10/01/95
0
3264518 O 09/01/25
0
1456082 447/447 F 244,000.00
ZZ
WAY 360 243,695.62
1
319 EAST DUNBARTON PLACE 8.375 1,854.58
80
8.125 1,854.58
305,000.00
CLAREMONT CA 91711 1 09/02/95
00
3265092 05 11/01/95
0
3265092 O 10/01/25
0
1456083 447/447 F 265,000.00
ZZ
MINKOWSKY 360 264,514.97
1
DIPPER COVE PT., ORRS ISLAND 8.500 2,037.62
76
8.250 2,037.62
350,000.00
HARPSWELL ME 04066 1 08/31/95
00
3265264 03 10/01/95
0
3265264 O 09/01/25
0
1456084 447/447 F 239,750.00
ZZ
LEE 360 239,109.77
1
1665 WATERWAY CROSSING 8.500 1,843.47
90
8.250 1,843.47
266,389.00
ATLANTA GA 30331 1 08/24/95
12
3265712 05 10/01/95
0
3265712 O 09/01/25
0
1456085 447/447 F 208,900.00
ZZ
TAHMASSIAN 360 208,517.62
1
5202 NORTH QUAIL RUN ROAD 8.500 1,606.27
95
8.250 1,606.27
219,900.00
PARADISE VALLEY AZ 85253 1 08/24/95
10
3265792 05 10/01/95
0
3265792 O 09/01/25
0
1
1456087 447/447 F 243,000.00
ZZ
BARTNICKI 360 242,681.01
1
65 SPINNING WHEEL ROAD 8.125 1,804.27
90
7.875 1,804.27
270,000.00
TRUMBULL CT 06611 1 09/19/95
14
3266460 05 11/01/95
0
3266460 O 10/01/25
0
1456088 447/447 F 270,000.00
BB
FRITZ 360 269,703.91
1
635 ARLINGTON CIRCLE 9.000 2,172.49
90
8.750 2,172.49
300,000.00
NOVATO CA 94947 1 09/01/95
12
3267597 05 11/01/95
0
3267597 O 10/01/25
0
1456089 447/447 F 221,250.00
ZZ
HORTON 360 220,801.67
1
765 PARKS ROAD 8.000 1,623.45
95
7.750 1,623.45
232,900.00
BENTON LA 71006 1 08/30/95
04
3267600 05 10/01/95
0
3267600 O 09/01/25
0
1456090 447/447 F 244,800.00
ZZ
PETTY 360 244,340.33
1
7411 LARCHVIEW DRIVE 8.375 1,860.66
79
8.125 1,860.66
310,000.00
DALLAS TX 75240 1 08/25/95
00
3267987 05 10/01/95
0
3267987 O 09/01/25
0
1456091 447/447 F 262,350.00
BB
BRACKMAN 360 262,014.27
1
76 TAMARACK ROAD 8.250 1,970.95
90
8.000 1,970.95
291,500.00
RYE BROOK NY 10573 1 09/13/95
04
3269039 05 11/01/95
0
3269039 O 10/01/25
0
1456092 447/447 F 275,000.00
ZZ
HOLTKAMP 360 274,620.26
1
1
590 MONTORI COURT 7.875 1,993.94
56
7.625 1,993.94
499,900.00
PLEASANTON CA 94588 1 09/07/95
00
3269236 03 11/01/95
0
3269236 O 10/01/25
0
1456093 447/447 F 539,000.00
ZZ
HEDGES 360 538,310.23
1
901 MEADOW ROAD 8.250 4,049.33
80
8.000 4,049.33
679,000.00
APTOS CA 95003 1 09/06/95
00
3270130 05 11/01/95
0
3270130 O 10/01/25
0
1456094 447/447 F 305,000.00
BB
JONES 360 304,629.15
1
1440 TUNNEL ROAD 8.500 2,345.19
74
8.250 2,345.19
415,000.00
SANTA BARBARA CA 93105 1 09/22/95
00
3270511 05 11/01/95
0
3270511 O 10/01/25
0
1456095 447/447 F 262,400.00
ZZ
RAY 360 261,989.37
1
1138 FAIRWAY GARDENS 7.250 1,790.03
80
7.000 1,790.03
328,514.00
ATLANTA GA 30319 1 09/11/95
00
3270696 05 11/01/95
0
3270696 O 10/01/25
0
1456096 447/447 F 263,000.00
ZZ
MURPHY 360 262,618.09
1
32623 GLAISYER HILL ROAD 7.625 1,861.50
75
7.375 1,861.50
353,000.00
COTTAGE GROVE OR 97424 1 09/21/95
00
3270850 05 11/01/95
0
3270850 O 10/01/25
0
1456097 447/447 F 333,000.00
ZZ
DONNELLY 360 332,595.11
1
1011 NORTHWEST GLISAN STREET 8.500 2,560.48
89
8.250 2,560.48
375,000.00
PORTLAND OR 97209 2 09/07/95
10
3271527 01 11/01/95
0
1
3271527 O 10/01/25
0
1456098 447/447 F 488,850.00
ZZ
MARKOWICZ 360 487,348.30
1
9982 HIDDEN OAK COURT 7.375 3,376.37
80
7.125 3,376.37
611,099.00
VIENNA VA 22181 1 07/21/95
00
3272123 05 09/01/95
0
3272123 O 08/01/25
0
1456099 447/447 F 215,900.00
ZZ
HUNTER 360 215,504.82
1
24392 MACHADO COURT 8.500 1,660.09
90
8.250 1,660.09
239,900.00
HAYWARD CA 94541 1 08/22/95
01
3272145 03 10/01/95
0
3272145 O 09/01/25
0
1456100 447/447 F 236,000.00
ZZ
REVEAL 360 235,682.25
1
5112 44TH ST NW 8.000 1,731.68
80
7.750 1,731.68
295,000.00
WASHINGTON DC 20016 1 09/06/95
00
3272716 05 11/01/95
0
3272716 O 10/01/25
0
1456101 447/447 F 297,000.00
ZZ
VOGT 360 296,291.00
1
3849 WEST ROBINHOOD DRIVE 8.625 2,310.04
89
8.375 2,310.04
335,000.00
VISALIA CA 93291 1 07/21/95
14
3272777 03 09/01/95
0
3272777 O 08/01/25
0
1456102 447/447 F 283,500.00
BB
ALVAREZ 360 283,164.05
1
275 NORTH HILLCREST BLVD 8.625 2,205.03
90
8.375 2,205.03
315,000.00
INGLEWOOD CA 90301 2 09/06/95
11
3272974 05 11/01/95
0
3272974 O 10/01/25
0
1
1456103 447/447 F 504,000.00
ZZ
ROBERTS 360 503,338.39
1
3509 OAKFIELD DRIVE 8.125 3,742.19
80
7.875 3,742.19
630,000.00
SHERMAN OAKS CA 91423 2 09/08/95
00
3273328 05 11/01/95
0
3273328 O 10/01/25
0
1456104 447/447 F 235,650.00
ZZ
GRAHAM 360 235,135.06
1
13101 PEACH LEAF PLACE 7.625 1,667.92
80
7.375 1,667.92
294,595.00
FAIRFAX VA 22033 1 09/01/95
00
3273535 03 10/01/95
0
3273535 O 09/01/25
0
1456105 447/447 F 243,000.00
ZZ
CHO 360 242,712.03
1
18034 ACRE STREET 8.625 1,890.03
90
8.375 1,890.03
270,000.00
NORTHRIDGE CA 91325 1 09/08/95
11
3273924 05 11/01/95
0
3273924 O 10/01/25
0
1456106 447/447 F 225,000.00
ZZ
BAEZ 360 224,719.33
1
22923 LAVA WAY 8.375 1,710.16
90
8.125 1,710.16
250,000.00
NUEVO CA 92567 1 09/07/95
01
3274607 05 11/01/95
0
3274607 O 10/01/25
0
1456107 447/447 F 266,250.00
ZZ
KRAMER 360 265,909.27
1
9 CAREFREE LANE 8.250 2,000.25
67
8.000 2,000.25
400,000.00
SAN ANTONIO TX 78257 2 09/06/95
00
3274711 05 11/01/95
0
3274711 O 10/01/25
0
1456108 447/447 F 247,000.00
ZZ
LOWENBERG 360 246,699.66
1
873 RIDGEWOOD ROAD 8.500 1,899.22
95
8.250 1,899.22
260,000.00
1
MILLBURN NJ 07041 1 09/27/95
10
3274808 05 11/01/95
0
3274808 O 10/01/25
0
1456109 447/447 F 216,000.00
ZZ
MENCUCCI 360 215,716.44
1
201 WILSON ROAD 8.125 1,603.80
90
7.875 1,603.80
240,000.00
ORANGE CT 06477 1 09/28/95
10
3274814 05 11/01/95
0
3274814 O 10/01/25
0
1456110 447/447 F 260,000.00
ZZ
TUCK 360 259,699.73
1
7908 GOLDENROD COVE 8.750 2,045.42
76
8.500 2,045.42
345,000.00
AUSTIN TX 78750 1 09/27/95
00
3274921 05 11/01/95
0
3274921 O 10/01/25
0
1456111 447/447 F 222,000.00
ZZ
NAM 360 221,715.89
1
2887 COUNTRY LANE 8.250 1,667.82
85
8.000 1,667.82
261,500.00
ELLICOTT CITY MD 21042 1 09/06/95
01
3275055 05 11/01/95
0
3275055 O 10/01/25
0
1456112 447/447 F 256,000.00
ZZ
CURL 360 255,519.33
1
7731 NICHOLSON ROAD 8.375 1,945.78
80
8.125 1,945.78
320,000.00
CUMMING GA 30130 2 08/31/95
00
3275184 05 10/01/95
0
3275184 O 09/01/25
0
1456113 447/447 F 222,300.00
ZZ
PERROW 360 222,029.69
1
730 FIRETHORN ROAD 8.500 1,709.30
95
8.250 1,709.30
234,000.00
CHESAPEAKE VA 23320 1 10/05/95
21
3275222 05 11/01/95
0
3275222 O 10/01/25
0
1
1456114 447/447 F 350,000.00
ZZ
KAISER 360 349,765.15
1
11 KITE HILL 8.000 2,568.18
60
7.750 2,568.18
590,000.00
SANTA CRUZ CA 95060 1 09/28/95
00
3275224 05 12/01/95
0
3275224 O 11/01/25
0
1456115 447/447 F 304,000.00
ZZ
FREMONT 360 303,590.68
1
1576 LAW STREET 8.000 2,230.65
80
7.750 2,230.65
380,000.00
SAN DIEGO CA 92109 1 09/07/95
00
3275955 05 11/01/95
0
3275955 O 10/01/25
0
1456116 447/447 F 380,000.00
ZZ
WATSON 360 379,513.70
1
574 MONTORI COURT 8.250 2,854.82
72
8.000 2,854.82
528,438.00
PLEASANTON CA 94566 1 09/11/95
00
3276120 05 11/01/95
0
3276120 O 10/01/25
0
1456117 447/447 F 272,500.00
ZZ
FULLER 360 272,013.86
1
487 PRAIRIE KNOLL DRIVE 8.625 2,119.48
90
8.375 2,119.48
305,000.00
NAPERVILLE IL 60565 2 08/24/95
04
3276297 05 10/01/95
0
3276297 O 09/01/25
0
1456118 447/447 F 320,800.00
ZZ
SHARROCKS 360 320,212.82
1
13441 QUERY MILL ROAD 8.500 2,466.68
80
8.250 2,466.68
401,000.00
NORTH POTOMAC MD 20878 1 09/01/95
00
3276628 05 10/01/95
0
3276628 O 09/01/25
0
1456119 447/447 F 230,000.00
ZZ
SULAK 360 229,705.67
1
1
3605 WINDSOR ROAD 8.250 1,727.91
80
8.000 1,727.91
290,000.00
AUSTIN TX 78703 1 09/11/95
00
3276934 05 11/01/95
0
3276934 O 10/01/25
0
1456120 447/447 F 261,900.00
ZZ
MOSS 360 261,556.18
1
4205 FOOTHILL ROAD 8.125 1,944.61
80
7.875 1,944.61
327,375.00
VENTURA CA 93003 1 09/12/95
00
3277121 05 11/01/95
0
3277121 O 10/01/25
0
1456121 447/447 F 330,000.00
ZZ
MORAN 360 329,794.89
1
1030 WEST WRIGHTWOOD AVENUE 8.375 2,508.24
80
8.125 2,508.24
413,000.00
CHICAGO IL 60614 1 10/02/95
00
3277219 01 12/01/95
0
3277219 O 11/01/25
0
1456122 447/447 F 252,000.00
ZZ
ANDERSON 360 251,677.52
1
852 EAST OSMOND LANE 8.250 1,893.19
80
8.000 1,893.19
315,000.00
PROVO UT 84604 1 09/07/95
00
3278376 05 11/01/95
0
3278376 O 10/01/25
0
1456123 447/447 F 280,000.00
ZZ
RUSSELL 360 279,641.67
1
9888 CAMINITO LASWINE 8.250 2,103.55
79
8.000 2,103.55
357,500.00
SAN DIEGO CA 92131 1 09/14/95
00
3278392 03 11/01/95
0
3278392 O 10/01/25
0
1456124 447/447 F 560,000.00
ZZ
LINDEN 360 558,779.93
1
4520 CORTLAND DRIVE 8.250 4,207.09
80
8.000 4,207.09
700,000.00
CORONA DEL MAR CA 92625 2 09/18/95
00
3278459 03 11/01/95
0
1
3278459 O 10/01/25
0
1456125 447/447 F 230,000.00
ZZ
MONASTIERO 360 229,698.06
1
18 JAMES AVENUE 8.125 1,707.75
59
7.875 1,707.75
395,000.00
MIDDLETON MA 01949 5 09/29/95
00
3278579 05 11/01/95
0
3278579 O 10/01/25
0
1456126 447/447 F 276,000.00
ZZ
LUNDE 360 275,637.70
1
5101 HUMMINGBIRD CIRCLE 8.125 2,049.29
80
7.875 2,049.29
345,000.00
CARMEL IN 46033 1 09/29/95
00
3279475 03 11/01/95
0
3279475 O 10/01/25
0
1456127 447/447 F 270,000.00
ZZ
HARRISON 360 269,680.05
1
109 PIONEER ROAD 8.625 2,100.03
67
8.375 2,100.03
405,000.00
BLAINE COUNTY ID 83333 5 09/20/95
00
3279902 05 11/01/95
0
3279902 O 10/01/25
0
1456128 447/447 F 263,900.00
ZZ
MURPHY 360 263,570.80
1
6371 SOUTH BYBEE DRIVE 8.375 2,005.83
80
8.125 2,005.83
329,900.00
OGDEN UT 84403 1 09/08/95
00
3280006 05 11/01/95
0
3280006 O 10/01/25
0
1456129 447/447 F 225,000.00
ZZ
LINOWES 360 224,719.31
1
20 BRAMLEY HILL ROAD 8.375 1,710.17
51
8.125 1,710.17
445,000.00
WINDHAM NH 03087 1 09/07/95
00
3280399 05 11/01/95
0
3280399 O 10/01/25
0
1
1456130 447/447 F 333,000.00
ZZ
VIOLA 360 332,551.63
1
71 EAGLE DRIVE 8.000 2,443.44
90
7.750 2,443.44
370,000.00
BEDFORD NH 03110 1 09/20/95
01
3280449 05 11/01/95
0
3280449 O 10/01/25
0
1456131 447/447 F 230,000.00
ZZ
BENICH 360 229,666.90
1
26 WEST 364 TORREY PINES C 7.750 1,647.75
68
7.500 1,647.75
342,000.00
WINFIELD IL 60190 2 09/29/95
00
3280851 05 11/01/95
0
3280851 O 10/01/25
0
1456132 447/447 F 227,000.00
ZZ
MERCADO 360 226,702.01
1
10805 TRENT WAY 8.125 1,685.47
80
7.875 1,685.47
286,000.00
LA MESA CA 91941 2 09/15/95
00
3280885 05 11/01/95
0
3280885 O 10/01/25
0
1456133 447/447 F 253,000.00
ZZ
CAMPBELL 360 252,659.37
1
19116 NORTHEAST 48TH STREET 8.000 1,856.42
74
7.750 1,856.42
343,000.00
REDMOND WA 98053 1 09/08/95
00
3281106 05 11/01/95
0
3281106 O 10/01/25
0
1456134 447/447 F 367,200.00
ZZ
MASTERS 360 366,510.49
1
1420 PLEASANT OAKS PLACE 8.375 2,790.99
80
8.125 2,790.99
459,000.00
THOUSAND OAKS CA 91360 1 08/29/95
00
3281270 05 10/01/95
0
3281270 O 09/01/25
0
1456135 447/447 F 269,500.00
ZZ
LOCKE 360 268,731.76
1
6 WILLOWGLADE 7.750 1,930.73
80
7.500 1,930.73
336,900.00
1
DOVE CANYON CA 92679 1 07/19/95
00
3281274 05 09/01/95
0
3281274 O 08/01/25
0
1456136 447/447 F 334,000.00
BB
BURGESS 360 333,572.57
1
9901 LARSON CIRCLE 8.250 2,509.23
64
8.000 2,509.23
527,500.00
VILLA PARK CA 92667 1 09/19/95
00
3281449 05 11/01/95
0
3281449 O 10/01/25
0
1456137 447/447 F 215,600.00
ZZ
MAGNUSON 360 215,344.52
1
3755 ROSEWOOD LANE N. 8.625 1,676.91
70
8.375 1,676.91
311,000.00
PLYMOUTH MN 55441 2 09/27/95
00
3281662 05 11/01/95
0
3281662 O 10/01/25
0
1456138 447/447 F 219,150.00
ZZ
BURICA 360 218,854.92
1
7692 EAST BIG CANYON DRIVE 8.000 1,608.05
80
7.750 1,608.05
273,990.00
ANAHEIM CA 92808 1 09/11/95
00
3282267 03 11/01/95
0
3282267 O 10/01/25
0
1456139 447/447 F 229,500.00
ZZ
WYMAN 360 229,213.70
1
10900 LA FLOR AVENUE 8.375 1,744.37
90
8.125 1,744.37
255,000.00
FOUNTAIN VALLEY CA 92708 1 09/21/95
11
3282646 03 11/01/95
0
3282646 O 10/01/25
0
1456140 447/447 F 266,200.00
ZZ
REEVES 360 265,859.35
1
3579 NORTH LITTLE ROCK DRIVE 8.250 1,999.87
75
8.000 1,999.87
355,000.00
PROVO UT 84604 5 09/11/95
00
3283003 03 11/01/95
0
3283003 O 10/01/25
0
1
1456141 447/447 F 284,950.00
ZZ
BAILEY 360 284,566.34
1
18926 203RD AVENUE NORTHEAST 8.000 2,090.86
79
7.750 2,090.86
364,950.00
WOODINVILLE WA 98072 1 09/19/95
00
3285722 03 11/01/95
0
3285722 O 10/01/25
0
1456142 447/447 F 256,000.00
ZZ
WARREN 360 255,814.72
1
115 DONNA COURT 7.625 1,811.95
80
7.375 1,811.95
320,000.00
SANTA CRUZ CA 95060 1 09/28/95
00
3286922 05 12/01/95
0
3286922 O 11/01/25
0
1456143 447/447 F 326,050.00
ZZ
CARROLL 360 325,569.00
1
775 FALLING ROCKS COURT 8.125 2,420.91
90
7.875 2,420.91
362,294.00
ROSWELL GA 30076 1 09/13/95
11
3286962 03 11/01/95
0
3286962 O 10/01/25
0
1456144 447/447 F 248,400.00
ZZ
TABERNACKI 360 248,048.23
1
10 HARROWGATE COURT 7.750 1,779.57
90
7.500 1,779.57
276,000.00
POTOMAC MD 20854 1 09/29/95
11
3288350 05 11/01/95
0
3288350 O 10/01/25
0
1456145 447/447 F 409,500.00
ZZ
KELLY 360 408,975.95
1
220 PATRICIAN WAY 8.250 3,076.44
70
8.000 3,076.44
585,000.00
PASADENA CA 91105 1 09/21/95
00
3288371 05 11/01/95
0
3288371 O 10/01/25
0
1456146 447/447 F 240,000.00
ZZ
HUDSON 360 239,668.58
1
1
1605 SOUTH MYERS STREET 7.875 1,740.17
73
7.625 1,740.17
330,000.00
OCEANSIDE CA 92054 1 09/26/95
00
3289219 05 11/01/95
0
3289219 O 10/01/25
0
1456147 447/447 F 283,500.00
BB
CHEN 360 283,127.85
1
5856 EAST TRAPPER TRAIL 8.125 2,104.98
90
7.875 2,104.98
315,000.00
ANAHEIM CA 92807 1 09/20/95
11
3289781 03 11/01/95
0
3289781 O 10/01/25
0
1456148 447/447 F 311,200.00
ZZ
ADLER 360 310,736.64
1
3853 WHITMAN ROAD 7.500 2,175.96
80
7.250 2,175.96
389,000.00
ANNANDALE VA 22003 1 09/14/95
00
3289928 03 11/01/95
0
3289928 O 10/01/25
0
1456149 447/447 F 268,350.00
ZZ
MCCAHAN 360 268,040.09
1
55 KEENE STREET 8.750 2,111.11
95
8.500 2,111.11
282,500.00
PROVIDENCE RI 02906 1 09/14/95
10
3290178 05 11/01/95
0
3290178 O 10/01/25
0
1456150 447/447 F 243,000.00
ZZ
HOGENSON 360 242,525.57
1
1716 JEANNE CIRCLE 8.000 1,783.05
80
7.750 1,783.05
307,000.00
MARTINEZ CA 94553 2 09/25/95
00
3290716 05 11/01/95
0
3290716 O 10/01/25
0
1456151 447/447 F 400,000.00
ZZ
KURI 360 399,433.54
1
25222 BUCKSKIN DRIVE 7.750 2,865.65
56
7.500 2,865.65
725,000.00
LAGUNA HILLS CA 92653 1 09/19/95
00
3292005 03 11/01/95
0
1
3292005 O 10/01/25
0
1456152 447/447 F 267,750.00
ZZ
POMONIS 360 267,380.27
1
5700 MADRID LANE 7.875 1,941.37
77
7.625 1,941.37
350,000.00
LONG BEACH CA 90814 2 09/02/95
00
3292383 03 11/01/95
0
3292383 O 10/01/25
0
1456153 447/447 F 215,000.00
ZZ
GIAIME 360 214,738.57
1
21 MEADOW GLEN RD 8.500 1,653.17
75
8.250 1,653.17
289,000.00
FORT SALONGA NY 11768 5 09/22/95
00
3293325 05 11/01/95
0
3293325 O 10/01/25
0
1456154 447/447 F 212,400.00
ZZ
HALL 360 212,141.74
1
604 AZALEA COURT 8.500 1,633.17
90
8.250 1,633.17
236,039.00
NAPERVILLE IL 60563 1 09/27/95
11
3293388 05 11/01/95
0
3293388 O 10/01/25
0
1456155 447/447 F 241,600.00
ZZ
BARTLETT 360 241,298.63
1
477 EL ALAMEIN RD 8.375 1,836.33
80
8.125 1,836.33
302,000.00
FELTON CA 95018 1 09/21/95
00
3293591 05 11/01/95
0
3293591 O 10/01/25
0
1456156 447/447 F 212,000.00
ZZ
SPOTO 360 211,721.72
1
1819 CLOVEMEADOW DRIVE 8.125 1,574.09
80
7.875 1,574.09
265,000.00
VIENNA VA 22182 1 09/25/95
00
3294943 03 11/01/95
0
3294943 O 10/01/25
0
1
1456157 447/447 F 265,600.00
ZZ
HOLT 360 265,260.10
1
3524 259TH WAY NE 8.250 1,995.37
79
7.950 1,995.37
340,000.00
REDMOND WA 98053 1 09/25/95
00
3295819 03 11/01/95
0
3295819 O 10/01/25
0
1456158 447/447 F 304,000.00
ZZ
WEAVER 360 303,590.70
1
1739 LAKEWOOD DRIVE NORTH 8.000 2,230.64
80
7.750 2,230.64
380,000.00
LEXINGTON KY 40502 2 09/26/95
00
3295868 05 11/01/95
0
3295868 O 10/01/25
0
1456159 447/447 F 397,400.00
ZZ
PIWNICA 360 396,864.93
1
21 TERRAZA DRIVE 8.000 2,915.98
80
7.750 2,915.98
496,757.00
NEWPORT COAST CA 92657 1 09/29/95
00
3296002 01 11/01/95
0
3296002 O 10/01/25
0
1456160 447/447 F 280,000.00
ZZ
GREGOIRE 360 279,613.36
1
3802 HARVEST DRIVE 7.875 2,030.19
70
7.625 2,030.19
400,000.00
REDWOOD CITY CA 94061 1 09/22/95
00
3296222 05 11/01/95
0
3296222 O 10/01/25
0
1456161 447/447 F 640,000.00
ZZ
EDWARDS 360 639,559.56
1
11 ASHDOWN PLACE 7.875 4,640.44
80
7.625 4,640.44
800,000.00
HALF MOON BAY CA 94019 1 10/02/95
00
3296228 05 12/01/95
0
3296228 O 11/01/25
0
1456162 447/447 F 250,000.00
ZZ
HOLMES 360 249,844.61
1
5581 LAKEVIEW DRIVE 8.375 1,900.18
95
8.125 1,900.18
265,000.00
1
LA VERNE CA 91750 1 10/04/95
12
3300969 03 12/01/95
0
3300969 O 11/01/25
0
1456163 447/447 F 296,000.00
ZZ
CHAPLER, 360 295,591.24
1
25581 CHIMERA DRIVE 7.875 2,146.21
80
7.625 2,146.21
370,000.00
MISSION VIEJO CA 92692 1 09/25/95
00
3301139 03 11/01/95
0
3301139 O 10/01/25
0
1456164 447/447 F 352,800.00
ZZ
HITE 360 352,359.91
1
22726 SANDALWOOD 8.375 2,681.53
90
8.125 2,681.53
392,004.00
MISSION VIEJO CA 92692 1 09/25/95
11
3301149 03 11/01/95
0
3301149 O 10/01/25
0
1456165 447/447 F 308,000.00
ZZ
ATCHISON 360 307,808.56
1
8267 MERRYWEATHER LANE 8.375 2,341.02
80
8.125 2,341.02
385,000.00
ANAHEIM CA 92808 1 10/02/95
00
3301526 05 12/01/95
0
3301526 O 11/01/25
0
1456166 447/447 F 380,000.00
ZZ
SHUTT 360 379,475.24
1
13212 MAPLECREST DRIVE 7.875 2,755.27
85
7.625 2,755.27
450,000.00
POTOMAC MD 20854 1 09/26/95
12
3302190 03 11/01/95
0
3302190 O 10/01/25
0
1456167 447/447 F 239,000.00
ZZ
DAVENPORT 360 238,669.96
1
4310 COURAGEOUS WAKE DRIVE 7.875 1,732.92
75
7.625 1,732.92
319,000.00
ALPHARETTA GA 30202 5 09/25/95
00
3305437 03 11/01/95
0
3305437 O 10/01/25
0
1
1456168 447/447 F 265,000.00
ZZ
GUPTA 360 264,595.48
1
1914 GABLES LANE 7.375 1,830.29
53
7.125 1,830.29
501,700.00
VIENNA VA 22182 1 10/05/95
00
3305971 03 11/01/95
0
3305971 O 10/01/25
0
1456169 447/447 F 248,850.00
ZZ
MALEN 360 248,208.68
1
2127 BEACH VILLAGE COURT 8.250 1,869.53
90
8.000 1,869.53
276,500.00
ANNAPOLIS MD 21403 1 07/17/95
14
3315905 05 09/01/95
0
3315905 O 08/01/25
0
1456170 447/447 F 227,600.00
ZZ
BERGSTROM 360 226,983.38
1
12825 N.E. 35TH PL. 8.375 1,729.92
80
8.125 1,729.92
284,500.00
BELLEVUE WA 98005 1 08/28/95
00
7001751 03 10/01/95
0
7001751 O 09/01/25
0
1456171 447/447 F 295,650.00
ZZ
MYERS 360 294,469.83
1
41506 292ND WAY SE 8.125 2,195.19
90
7.875 2,195.19
328,500.00
ENUMCLAW WA 98022 1 05/25/95
14
7002158 05 07/01/95
0
7002158 O 06/01/25
0
1456172 447/447 F 395,250.00
ZZ
AXTELL 360 393,871.98
1
456 WHEELER STREET 7.875 2,865.84
85
7.625 2,865.84
465,000.00
SEATTLE WA 98109 1 06/26/95
10
7002205 05 08/01/95
0
7002205 O 07/01/25
0
1456173 447/447 F 124,000.00
ZZ
MURRAY 360 123,773.05
1
1
817 MAY STREET 8.500 953.45
80
8.250 953.45
155,000.00
NAUGATUCK CT 06770 5 08/15/95
00
7005832 05 10/01/95
0
7005832 O 09/01/25
0
1456174 447/447 F 37,500.00
ZZ
STOKES 360 37,455.56
1
229 BACON POND ROAD 8.625 291.67
75
8.375 291.67
50,000.00
WOODBURY CT 06798 1 09/20/95
00
7006275 01 11/01/95
0
7006275 O 10/01/25
0
1456175 447/447 F 48,700.00
ZZ
O'BRIEN 360 48,642.29
1
149 WATER STREET 8.625 378.78
75
8.375 378.78
65,000.00
NORWALK CT 06851 1 09/12/95
00
7006294 01 11/01/95
0
7006294 O 10/01/25
0
1456176 447/447 F 260,000.00
ZZ
O'BRIEN 360 259,524.11
1
1770 AZUSA AND SAN GABRIEL C 8.500 1,999.18
71
8.250 1,999.18
370,000.00
AZUSA AREA CA 91702 1 08/21/95
00
7007794 05 10/01/95
0
7007794 O 09/01/25
0
1456177 447/447 F 230,000.00
ZZ
HEON 360 229,727.44
1
4109 LYMAN AVENUE 8.625 1,788.92
89
8.375 1,788.92
260,000.00
COVINA AREA CA 91724 1 09/05/95
12
7008199 05 11/01/95
0
7008199 O 10/01/25
0
1456178 447/447 F 218,000.00
ZZ
DEAN 360 217,601.00
1
3055 MORNINGSID DRIVE 8.500 1,676.23
80
8.250 1,676.23
275,000.00
THOUSAND OAKS CA 91362 2 08/24/95
00
7009370 03 10/01/95
0
1
7009370 O 09/01/25
0
1456179 447/447 F 650,000.00
ZZ
BERRIS 360 649,268.51
1
130 MIDDLE ROAD 8.875 5,171.69
66
8.625 5,171.69
995,000.00
SANTA BARBARA CA 93108 5 09/05/95
00
7009435 05 11/01/95
0
7009435 O 10/01/25
0
1456180 447/447 F 288,000.00
ZZ
YAMANI 360 287,137.55
1
24627 SENDA SALVIA 8.625 2,240.03
80
8.375 2,240.03
360,000.00
CALABASAS CA 91302 1 06/20/95
00
7011256 03 08/01/95
0
7011256 O 07/01/25
0
1456182 447/447 F 278,400.00
ZZ
CHRIST 360 278,025.15
1
370 DATEWOOD COURT NORTHWES 8.000 2,042.80
90
7.750 2,042.80
309,400.00
ISSAQUAH WA 98027 1 09/05/95
11
7015394 03 11/01/95
0
7015394 O 10/01/25
0
1456183 447/447 F 250,800.00
ZZ
SHIN 360 250,502.79
1
446 EAST SHELLDRAKE CIRCLE 8.625 1,950.70
95
8.375 1,950.70
264,000.00
FRESNO CA 93720 1 09/01/95
01
7017569 03 11/01/95
0
7017569 O 10/01/25
0
1456184 447/447 F 78,750.00
T
ARMSTRONG 360 78,611.27
1
810 ALDER AVENUE #72 8.875 626.57
75
8.625 626.57
105,000.00
INCLINE VILLAGE NV 89451 5 08/21/95
00
7028139 01 10/01/95
0
7028139 O 09/01/25
0
1
1456185 447/447 F 293,000.00
ZZ
LANG 360 292,634.50
1
1016 MARSHA LANE 8.375 2,227.01
62
8.125 2,227.01
475,000.00
GARDNERVILLE NV 89410 5 09/07/95
00
7028275 05 11/01/95
0
7028275 O 10/01/25
0
1456186 447/447 F 251,500.00
ZZ
PLONKEY, 360 251,178.14
1
7755 PIPIT PLACE 8.250 1,889.44
90
8.000 1,889.44
281,500.00
SAN DIEGO CA 92129 1 09/08/95
01
7033244 05 11/01/95
0
7033244 O 10/01/25
0
1456187 447/447 F 232,000.00
ZZ
VANACORE 360 231,553.12
1
27130 COLEBROOK PLACE 8.250 1,742.94
80
8.000 1,742.94
290,000.00
VALENCIA AREA CA 91354 1 08/30/95
00
7035117 03 10/01/95
0
7035117 O 09/01/25
0
1456188 447/447 F 125,000.00
ZZ
JOSHI 360 124,635.11
1
63 HARRISON ST. 8.750 983.38
72
8.500 983.38
175,000.00
NUTLEY TOWNSHIP NJ 07110 2 06/16/95
00
7035697 05 08/01/95
0
7035697 O 07/01/25
0
1456189 447/447 F 233,800.00
ZZ
BIEGACZ 360 233,382.93
1
191 WOOD ROAD 8.625 1,818.47
70
8.375 1,818.47
334,000.00
ENGLEWOOD CLIFF NJ 07632 1 08/30/95
00
7035931 05 10/01/95
0
7035931 O 09/01/25
0
1456190 447/447 F 260,000.00
ZZ
CABRAL 360 259,431.87
1
7202 LUDWOOD COURT 7.625 1,840.26
80
7.375 1,840.26
325,000.00
1
ALEXANDRIA VA 22306 1 08/28/95
00
7036443 03 10/01/95
0
7036443 O 09/01/25
0
1456191 447/447 F 159,000.00
ZZ
CHANCEY, 360 158,708.99
1
954 WOOD SAGE COURT 8.500 1,222.57
62
8.250 1,222.57
260,000.00
CONYERS GA 30208 2 08/17/95
00
7036473 05 10/01/95
0
7036473 O 09/01/25
0
1456192 447/447 F 46,800.00
ZZ
SHERIDAN 360 46,718.62
1
3935 N. COUNTRY CLUB ROAD UN 8.750 368.18
80
8.500 368.18
58,500.00
TUCSON AZ 85716 1 08/24/95
00
7039086 01 10/01/95
0
7039086 O 09/01/25
0
1456193 447/447 F 52,000.00
ZZ
THOMPSON 360 51,939.96
1
4251 N. 17TH AVENUE 8.750 409.08
80
8.500 409.08
65,000.00
PHOENIX AZ 85015 5 09/05/95
00
7039592 05 11/01/95
0
7039592 O 10/01/25
0
1456194 447/447 F 231,200.00
T
HOUSER 360 230,776.83
1
12159 CONESTOGA DRIVE 8.500 1,777.73
80
8.250 1,777.73
289,000.00
GRASS VALLEY CA 95949 1 08/30/95
00
7047901 05 10/01/95
0
7047901 O 09/01/25
0
1456195 447/447 F 285,000.00
ZZ
HURST 360 284,616.27
1
6635 SOUTH BENECIA DRIVE 8.000 2,091.23
80
7.750 2,091.23
359,000.00
SALT LAKE CITY UT 84121 2 09/05/95
00
7049456 03 11/01/95
0
7049456 O 10/01/25
0
1
1456196 447/447 F 339,100.00
ZZ
TRIESAULT 360 338,525.46
1
18 QUIET MEADOW LANE 8.875 2,698.03
70
8.625 2,698.03
490,000.00
MAPLETON UT 84664 2 08/29/95
00
7049950 03 10/01/95
0
7049950 O 09/01/25
0
1456197 447/447 F 200,000.00
ZZ
MAYNARD 360 199,669.79
1
740 SOUTH MILL ROAD 9.000 1,609.25
63
8.750 1,609.25
322,000.00
HEBER CITY UT 84032 5 08/23/95
00
7049985 05 10/01/95
0
7049985 O 09/01/25
0
1456198 447/447 F 140,000.00
ZZ
NELSON 360 139,750.24
1
1409 EAST BRYAN AVENUE 8.625 1,088.91
57
8.375 1,088.91
249,900.00
SALT LAKE CITY UT 84105 1 08/25/95
00
7050008 05 10/01/95
0
7050008 O 09/01/25
0
1456199 447/447 F 460,000.00
ZZ
MILLER 360 459,093.80
1
1365 EAST BOX ELDER DRIVE 8.750 3,618.82
75
8.500 3,618.82
615,000.00
ALPINE UT 84004 5 08/31/95
00
7050100 05 10/01/95
0
7050100 O 09/01/25
0
1456200 447/447 F 109,500.00
ZZ
SORENSON 360 109,363.40
1
768 EAST OAKWOOD PARK CIRCL 8.375 832.28
80
8.125 832.28
137,000.00
SANDY UT 84094 2 09/06/95
00
7050132 01 11/01/95
0
7050132 O 10/01/25
0
1456201 447/447 F 301,000.00
ZZ
MOHEBBIZADEH 360 300,614.82
1
1
11434 SOUTH OBERLAND ROAD 8.250 2,261.31
70
8.000 2,261.31
431,250.00
SANDY UT 84092 1 09/06/95
00
7050164 03 11/01/95
0
7050164 O 10/01/25
0
1456203 447/447 F 225,232.00
ZZ
CAO 360 224,819.75
1
7674 EAST BIG CANYON DRIVE 8.500 1,731.84
80
8.250 1,731.84
281,540.00
ANAHEIM CA 92808 1 08/19/95
00
7051868 03 10/01/95
0
7051868 O 09/01/25
0
1456204 447/447 F 351,000.00
ZZ
CHAN 360 350,527.41
1
765 SOUTH ROCK GARDEN CIRCL 8.000 2,575.51
90
7.750 2,575.51
390,000.00
ANAHEIM CA 92808 1 09/01/95
11
7052070 03 11/01/95
0
7052070 O 10/01/25
0
1456205 447/447 F 288,500.00
ZZ
CRIPPEN 360 288,130.81
1
6200 EAST FOX GLEN DRIVE 8.250 2,167.40
78
8.000 2,167.40
370,000.00
ANAHEIM CA 92807 2 09/02/95
00
7052156 03 11/01/95
0
7052156 O 10/01/25
0
1456206 447/447 F 386,400.00
ZZ
FOX 360 385,866.41
1
2525 MERLOT LANE 7.875 2,801.67
80
7.625 2,801.67
483,000.00
LIVERMORE CA 94550 1 09/12/95
00
7052219 05 11/01/95
0
7052219 O 10/01/25
0
1456207 447/447 F 82,400.00
ZZ
GALLAGHER 360 82,307.28
1
610 CLAREMORE DR 8.875 655.61
80
8.625 655.61
103,000.00
WEST PALM BEACH FL 33401 5 08/30/95
00
7060107 05 11/01/95
0
1
7060107 O 10/01/25
0
1456208 447/447 F 234,250.00
ZZ
WEILE 360 233,857.09
1
616 RED ROME LANE 8.375 1,780.47
90
8.125 1,780.47
260,310.00
BRENTWOOD CA 94513 1 09/15/95
12
7067168 03 11/01/95
0
7067168 O 10/01/25
0
1456209 447/447 F 246,000.00
ZZ
NIKKEL 360 245,462.47
1
106 PLANTATION ROAD 7.625 1,741.17
90
7.375 1,741.17
276,000.00
HOUSTON TX 77024 1 08/28/95
01
7141045 03 10/01/95
0
7141045 O 09/01/25
0
1456210 447/447 F 472,500.00
ZZ
YUNG 360 471,910.59
1
6325 LEMON AVENUE 8.375 3,591.34
70
8.125 3,591.34
675,000.00
SAN GABRIEL ARE CA 91775 2 09/12/95
00
7147472 05 11/01/95
0
7147472 O 10/01/25
0
1456211 447/447 F 283,900.00
ZZ
HILLENBURG 360 280,954.47
1
37185 APPLE GATE ROAD 8.000 2,083.16
78
7.750 2,083.16
365,000.00
MURRIETA AREA CA 92563 2 09/08/95
00
7147560 05 11/01/95
0
7147560 O 10/01/25
0
1456212 447/447 F 440,000.00
ZZ
LOW 360 439,392.39
1
1824 VIA DEL REY 7.875 3,190.31
80
7.625 3,190.31
550,000.00
SOUTH PASADENA CA 91030 1 09/01/95
00
7147589 05 11/01/95
0
7147589 O 10/01/25
0
1
1456213 447/447 F 293,000.00
ZZ
SHENOUDA 360 292,490.59
1
205 22ND STREET 8.750 2,305.03
74
8.500 2,305.03
400,000.00
HUNTINGTON BEAC CA 92648 2 08/25/95
00
7147644 05 10/01/95
0
7147644 O 09/01/25
0
1456214 447/447 F 138,000.00
ZZ
SOSEBEE 360 137,832.21
1
12642 WOODLAND LANE 8.500 1,061.10
80
8.250 1,061.10
174,000.00
GARDEN GROVE CA 92640 2 09/05/95
00
7147690 05 11/01/95
0
7147690 O 10/01/25
0
1456215 447/447 F 221,400.00
ZZ
DAHI 360 221,102.38
1
1809 MIRADOR DRIVE 8.500 1,702.37
95
8.250 1,702.37
233,083.00
AZUSA CA 91702 1 08/30/95
01
7147840 01 11/01/95
0
7147840 O 10/01/25
0
1456216 447/447 F 252,000.00
ZZ
GERVASI 360 251,708.96
1
6657 EGGLESTONE PLACE 8.750 1,982.49
90
8.500 1,982.49
280,000.00
RANCHO CUCAMONG CA 91739 1 08/29/95
01
7147844 05 11/01/95
0
7147844 O 10/01/25
0
1456217 447/447 F 229,600.00
ZZ
WILLS 360 229,179.75
1
805 UNIVERSITY DRIVE 8.500 1,765.43
80
8.250 1,765.43
287,000.00
RIVERSIDE CA 92507 1 08/29/95
00
7147907 05 10/01/95
0
7147907 O 09/01/25
0
1456218 447/447 F 272,000.00
ZZ
DONALD 360 271,624.39
1
5025 MACARTHUR BOULEVARD, N. 7.875 1,972.19
67
7.625 1,972.19
410,000.00
1
WASHINGTON DC 20007 1 09/08/95
00
7155804 05 11/01/95
0
7155804 O 10/01/25
0
1456219 447/447 F 285,000.00
ZZ
KINSINGER 360 284,575.66
1
833 COACH WAY 7.500 1,992.76
42
7.250 1,992.76
690,000.00
ANNAPOLIS MD 21401 2 09/14/95
00
7155828 03 11/01/95
0
7155828 O 10/01/25
0
1456917 447/447 F 294,000.00
ZZ
SMITH 360 293,830.85
1
508 ST. CHRISTOPHER'S LANE 8.750 2,312.90
70
8.500 2,312.90
420,000.00
RICHMOND VA 23226 2 10/06/95
00
3299952 05 12/01/95
0
3299952 O 11/01/25
0
1456918 447/447 F 266,400.00
ZZ
BUCKHOUSE 360 265,659.40
1
35649 & 35651 ZEPHR WAY 7.875 1,931.59
80
7.625 1,931.59
333,000.00
PLEASANT HILL OR 97455 1 07/01/95
00
1716509 05 09/01/95
0
1716509 O 08/01/25
0
1456919 447/447 F 450,000.00
ZZ
TATTERSALL 360 448,780.07
1
88 CONCORD ROAD 8.000 3,301.95
79
7.750 3,301.95
576,000.00
CARLISLE MA 01741 2 07/20/95
00
1832523 05 09/01/95
0
1832523 O 08/01/25
0
1456920 447/447 F 359,800.00
ZZ
GAINES 360 359,174.43
1
11640 EAST TANQUE VERDE ROAD 8.750 2,830.55
90
8.500 2,830.55
399,879.00
TUSCON AZ 85749 1 08/25/95
10
3264763 03 10/01/95
0
3264763 O 09/01/25
0
1
1456922 447/447 F 250,000.00
ZZ
SANSBURY, 360 249,836.46
1
115 SARDIS MILL DRIVE 8.125 1,856.25
84
7.875 1,856.25
297,900.00
MATTHEWS NC 28105 1 10/05/95
12
2008226 03 12/01/95
0
2008226 O 11/01/25
0
1456923 447/447 F 315,000.00
ZZ
BURKHOLDER 360 314,772.00
1
20155 LAKEVIEW AVENUE 7.625 2,229.56
70
7.375 2,229.56
450,000.00
DEEPHAVEN MN 55331 2 10/24/95
00
2012627 05 12/01/95
0
2012627 O 11/01/25
0
1456924 447/447 F 299,440.00
ZZ
SAILE 360 298,586.38
1
2203 LONG COVE CIRCLE 7.750 2,145.23
80
7.500 2,145.23
374,300.00
KATY TX 77450 1 07/27/95
00
2012955 03 09/01/95
0
2012955 O 08/01/25
0
1456925 447/447 F 296,910.00
ZZ
MINCHEW 360 296,216.18
1
104 ELLSWORTH PLACE 8.375 2,256.74
90
8.125 2,256.74
329,900.00
CHAPEL HILL NC 27516 1 08/31/95
21
2015033 03 10/01/95
0
2015033 O 09/01/25
0
1456926 447/447 F 310,000.00
ZZ
AL 360 309,339.36
1
7040 GRANT AVENUE 7.750 2,220.88
80
7.500 2,220.88
387,500.00
CARMICHAEL CA 95608 1 08/01/95
00
2015678 05 10/01/95
0
2015678 O 09/01/25
0
1456928 447/447 F 325,000.00
ZZ
PROBST 360 324,096.48
1
1
22 WOODED BROOK DRIVE 7.875 2,356.48
70
7.625 2,356.48
468,500.00
THE WOODLANDS TX 77382 1 07/31/95
00
2016610 03 09/01/95
0
2016610 O 08/01/25
0
1456929 447/447 F 285,000.00
ZZ
SWIFT 360 283,561.12
1
700 ESCALONA DRIVE 8.125 2,116.12
80
7.875 2,116.12
360,000.00
SANTA CRUZ CA 95060 2 08/30/95
00
2017494 05 10/01/95
0
2017494 O 09/01/25
0
1456930 447/447 F 215,100.00
ZZ
DOBLINGER 360 214,541.65
1
5101 S.W. 113TH AVENUE 8.750 1,692.20
90
8.500 1,692.20
239,000.00
COOPER CITY FL 33330 1 08/04/95
21
2018247 05 10/01/95
0
2018247 O 09/01/25
0
1456931 447/447 F 526,600.00
ZZ
RISTER 360 525,991.83
1
4 SPANISH OAK DRIVE 8.750 4,142.77
80
8.500 4,142.77
658,266.00
WACO TX 76710 1 09/14/95
00
2019622 05 11/01/95
0
2019622 O 10/01/25
0
1456932 447/447 F 210,000.00
ZZ
SULLIVAN 360 209,105.41
1
9716 NORTH LAMPLIGHTER LANE 9.625 1,784.98
90
9.375 1,784.98
235,000.00
MEQUON WI 53092 1 03/31/95
14
3005051 05 05/01/95
0
3005051 O 04/01/25
0
1456933 447/447 F 246,350.00
ZZ
WILSON 360 246,026.59
1
18840 GREYTON LANE 8.125 1,829.15
75
7.875 1,829.15
328,509.00
DAVIDSON NC 28036 1 09/27/95
00
2020991 03 11/01/95
0
1
2020991 O 10/01/25
0
1456934 447/447 F 265,500.00
BB
SAENZ 360 265,193.38
1
5321 SADDLEBACK COURT 8.750 2,088.69
90
8.500 2,088.69
295,000.00
RICHMOND CA 94803 1 09/06/95
21
2023624 05 11/01/95
0
2023624 O 10/01/25
0
1456935 447/447 F 249,800.00
ZZ
OSUMI, 360 249,648.67
1
9412 VILLA VISTA WAY 8.500 1,920.75
43
8.250 1,920.75
590,000.00
VILLA PARK CA 92667 2 10/16/95
00
2023704 05 12/01/95
0
2023704 O 11/01/25
0
1456936 447/447 F 274,400.00
ZZ
FAGAN 360 274,206.33
1
541 BEAU CHENE DRIVE 7.750 1,965.84
80
7.500 1,965.84
343,000.00
MANDEVILLE LA 70471 1 10/16/95
00
2025434 03 12/01/95
0
2025434 O 11/01/25
0
1456937 447/447 F 334,700.00
ZZ
BEHRENDT 360 334,249.33
1
3408 ROYAL MEADOW LANE 8.000 2,455.92
80
7.750 2,455.92
418,460.00
SAN JOSE CA 95135 1 09/28/95
00
2027099 05 11/01/95
0
2027099 O 10/01/25
0
1456938 447/447 F 327,000.00
ZZ
KANE 240 325,868.62
1
103 VAN DOREN PLACE 7.875 2,709.78
90
7.625 2,709.78
363,882.00
CHAPEL HILL NC 27514 1 09/13/95
21
2027932 03 11/01/95
0
2027932 O 10/01/15
0
1
1456939 447/447 F 235,100.00
ZZ
MARTIN 360 234,946.20
1
7041 NO. MONOMON 8.125 1,745.62
95
7.875 1,745.62
247,500.00
CHICAGO IL 60646 1 10/31/95
10
3266952 05 12/01/95
0
3266952 O 11/01/25
0
1456940 447/447 F 223,250.00
ZZ
BEYMER 360 223,107.63
1
1712 EAST MALLORY STREET 8.250 1,677.21
95
8.000 1,677.21
235,000.00
MESA AZ 85203 1 10/20/95
11
2030142 05 12/01/95
0
2030142 O 11/01/25
0
1456941 447/447 F 239,600.00
ZZ
STOYKO 360 239,435.11
1
227 LILAC DRIVE 7.875 1,737.27
80
7.625 1,737.27
299,500.00
MT VERNON WA 98273 1 10/16/95
00
2031720 05 12/01/95
0
2031720 O 11/01/25
0
1456942 447/447 F 238,000.00
ZZ
BARKSDALE 360 237,690.80
1
112 FOXRIDGE ROAD 8.250 1,788.02
85
8.000 1,788.02
280,000.00
CHAPEL HILL NC 27514 1 09/27/95
11
2031742 05 11/01/95
0
2031742 O 10/01/25
0
1456943 447/447 F 308,000.00
T
ANDERSEN 360 307,803.59
1
320 KINGS CROWN ROAD 8.250 2,313.91
80
8.000 2,313.91
385,000.00
BRECKENRIDGE CO 80424 1 10/06/95
00
2032430 03 12/01/95
0
2032430 O 11/01/25
0
1456944 447/447 F 353,600.00
ZZ
HILDORF 360 353,350.43
1
7995 CAIRN HIGHWAY 7.750 2,533.24
80
7.500 2,533.24
442,000.00
1
ELK RAPIDS MI 49629 2 10/24/95
00
2032909 05 12/01/95
0
2032909 O 11/01/25
0
1456945 447/447 F 270,000.00
ZZ
O'REILLY 360 269,809.43
1
401 MARLOWE STREET 7.750 1,934.32
31
7.500 1,934.32
890,000.00
PALO ALTO CA 94301 1 10/02/95
00
2034410 03 12/01/95
0
2034410 O 11/01/25
0
1456946 447/447 F 230,000.00
ZZ
KELLER 360 229,845.67
1
14894 S.W. 116TH PLACE 8.000 1,687.66
74
7.750 1,687.66
315,000.00
TIGARD OR 97224 1 10/04/95
00
2034507 05 12/01/95
0
2034507 O 11/01/25
0
1456947 447/447 F 283,920.00
ZZ
COX 360 283,729.49
1
2965 MERIDIEN CIRCLE 8.000 2,083.31
80
7.750 2,083.31
354,900.00
UNION CITY CA 94587 1 10/03/95
00
2034520 03 12/01/95
0
2034520 O 11/01/25
0
1456948 447/447 F 300,000.00
T
ANDERSON 360 299,803.75
1
2960 KEEPSAKE DRIVE 8.125 2,227.50
80
7.875 2,227.50
375,000.00
SEASIDE OR 97138 1 10/16/95
00
2035384 05 12/01/95
0
2035384 O 11/01/25
0
1456949 447/447 F 281,900.00
ZZ
BIXBY 360 281,720.23
1
631 CALLE DE VALDEZ 8.250 2,117.83
79
8.000 2,117.83
357,500.00
SANTA FE NM 87501 1 10/20/95
00
2037807 05 12/01/95
0
2037807 O 11/01/25
0
1
1456950 447/447 F 225,000.00
ZZ
POMEROY 360 224,860.14
1
8250 SW FISH CREEK LANE 8.375 1,710.17
73
8.125 1,710.17
312,000.00
MCMINNVILLE OR 97128 5 10/19/95
00
2039709 03 12/01/95
0
2039709 O 11/01/25
0
1456952 447/447 F 260,100.00
ZZ
NOVOBILSKI 360 259,599.02
1
3304 EVIE COURT 8.250 1,954.04
90
8.000 1,954.04
289,000.00
DALWORTHINGTON TX 76016 1 08/18/95
10
3001783 05 10/01/95
0
3001783 O 09/01/25
0
1456953 447/447 F 295,200.00
ZZ
STAATS 360 294,822.23
1
10816 SUNRISE POINT 8.250 2,217.74
90
8.000 2,217.74
328,000.00
SHREVEPORT LA 71106 1 09/29/95
21
3009683 03 11/01/95
0
3009683 O 10/01/25
0
1456954 447/447 F 301,550.00
ZZ
WEAVER 360 300,922.95
1
6100 WINSLOW COURT 7.750 2,160.35
90
7.500 2,160.35
335,428.00
FAIRFAX STATION VA 22039 1 09/22/95
21
3014115 05 11/01/95
0
3014115 O 10/01/25
0
1456955 447/447 F 283,700.00
ZZ
CROSBY, 360 283,509.63
1
13766 ELKHART COURT 8.000 2,081.70
80
7.750 2,081.70
354,675.00
APPLE VALLEY MN 55124 1 10/20/95
00
3018055 05 12/01/95
0
3018055 O 11/01/25
0
1456956 447/447 F 230,000.00
ZZ
SIART 360 228,851.14
1
1
LOT 14 GALE ROAD 8.875 1,829.99
67
8.625 1,829.99
343,500.00
HAMPTON NH 03842 1 04/25/95
00
3034211 05 05/01/95
0
3034211 O 04/01/25
0
1456957 447/447 F 260,000.00
ZZ
ALEXANDER 360 259,059.07
1
8913 WEST 100TH PLACE 9.375 2,162.55
89
9.125 2,162.55
295,000.00
PALACE HILLS IL 60465 2 04/05/95
04
3035941 05 06/01/95
0
3035941 O 05/01/25
0
1456958 447/447 F 276,000.00
ZZ
RAICH 360 275,646.79
1
9190 VICTORIA DRIVE 8.250 2,073.50
80
8.000 2,073.50
345,000.00
EDEN PRAIRIE MN 55347 1 09/22/95
00
3058659 05 11/01/95
0
3058659 O 10/01/25
0
1456959 447/447 F 229,500.00
ZZ
SALM 360 228,082.76
1
9137 WEST LILAC ROAD 9.125 1,867.29
90
8.875 1,867.29
255,000.00
ESCONDIDO CA 92026 1 03/29/95
21
3065240 05 05/01/95
0
3065240 O 04/01/25
0
1456961 447/447 F 230,000.00
ZZ
MILLER 360 229,845.67
1
1046 EAST CANYON BREEZE DRIV 8.000 1,687.66
69
7.750 1,687.66
335,000.00
DRAPER UT 84020 2 10/19/95
00
7050515 05 12/01/95
0
7050515 O 11/01/25
0
1456962 447/447 F 290,000.00
BB
WILSON 360 287,337.76
1
605 LAUREN CIRCLE 7.500 2,027.73
78
7.250 2,027.73
373,621.00
YARDLEY PA 19067 1 09/08/95
00
3096364 05 10/01/95
0
1
3096364 O 09/01/25
0
1456963 447/447 F 229,000.00
ZZ
PIVA 360 228,081.14
1
2641 DAISY LANE 8.875 1,822.03
90
8.625 1,822.03
255,000.00
FALLBROOK CA 92028 1 04/27/95
21
3096550 05 06/01/95
0
3096550 O 05/01/25
0
1456964 447/447 F 373,000.00
ZZ
SANDLER 360 371,576.09
1
2830 SUNSET DRIVE 9.375 3,102.43
50
9.125 3,102.43
750,000.00
MIAMI BEACH FL 33140 5 05/03/95
00
3098093 05 06/01/95
0
3098093 O 05/01/25
0
1456965 447/447 F 449,850.00
ZZ
MCNULTY 360 449,524.40
1
100 KINGSTON AVENUE 7.625 3,184.02
80
7.375 3,184.02
562,321.00
MEDIA PA 19063 1 10/27/95
00
3100192 03 12/01/95
0
3100192 O 11/01/25
0
1456966 447/447 F 280,000.00
ZZ
SHERMAN 360 279,240.91
1
15 SHOREVIEW ROAD 8.000 2,054.55
70
7.750 2,054.55
400,000.00
MANHASSET NY 11030 1 07/11/95
00
3102036 05 09/01/95
0
3102036 O 08/01/25
0
1456968 447/447 F 217,550.00
ZZ
HOGAN 360 216,121.98
1
4 GINA LANE 9.250 1,789.73
95
9.000 1,789.73
229,000.00
TAOS NM 87571 1 04/25/95
04
3122308 05 06/01/95
0
3122308 O 05/01/25
0
1
1456969 447/447 F 345,500.00
ZZ
YAMADA 360 345,243.59
1
10203 CROSSHAVEN COURT 7.500 2,415.79
80
7.250 2,415.79
431,910.00
ROCKVILLE MD 20850 1 10/17/95
00
3124505 03 12/01/95
0
3124505 O 11/01/25
0
1456970 447/447 F 298,350.00
ZZ
HOLTON 360 298,159.75
1
31 WEST SAN JUAN AVENUE 8.250 2,241.41
90
8.000 2,241.41
331,500.00
PHOENIX, AZ 85013 1 10/06/95
11
3130709 05 12/01/95
0
3130709 O 11/01/25
0
1456971 447/447 F 224,000.00
ZZ
GOGLUCCI 360 223,864.30
1
6755 N.W. 43RD PLACE 8.500 1,722.37
90
8.250 1,722.37
248,900.00
CORAL SPRINGS FL 33067 1 10/26/95
21
3133464 05 12/01/95
0
3133464 O 11/01/25
0
1456972 447/447 F 235,000.00
T
FRANK 360 234,296.22
1
JEREMIAH SMITH ROAD 8.625 1,827.81
85
8.375 1,827.81
277,000.00
MOULTONBORO NH 03254 1 06/30/95
21
3137868 05 08/01/95
0
3137868 O 07/01/25
0
1456973 447/447 F 239,400.00
ZZ
JONES 360 238,544.20
1
17411 KRISTIN COURT 7.750 1,715.09
90
7.500 1,715.09
266,000.00
OLNEY MD 20832 1 06/13/95
14
3144462 03 08/01/95
0
3144462 O 07/01/25
0
1456974 447/447 F 245,000.00
ZZ
PLIVELICH 360 244,551.58
1
2125 CLINTON VIEW CIRCLE 8.500 1,883.84
80
8.250 1,883.84
306,250.00
1
ROCHESTER HILLS MI 48309 1 08/31/95
00
3150852 05 10/01/95
0
3150852 O 09/01/25
0
1456976 447/447 F 332,000.00
ZZ
FERRAIUOLI 360 331,803.99
1
10 MCGUIRE COURT 8.625 2,582.26
80
8.375 2,582.26
415,000.00
RIDGEWOOD NJ 07450 2 10/02/95
00
3156625 05 12/01/95
0
3156625 O 11/01/25
0
1456977 447/447 F 350,000.00
ZZ
MCCARTHY 360 348,897.00
1
1531 LOCUST STREET 8.375 2,660.25
89
8.125 2,660.25
396,000.00
SAN MATEO CA 94402 1 06/20/95
14
3156849 05 08/01/95
0
3156849 O 07/01/25
0
1456978 447/447 F 288,000.00
ZZ
SCHUTZ 360 287,159.32
1
8689 ERICKSON RANCH ROAD 8.750 2,265.70
80
8.500 2,265.70
360,000.00
BLACK HAWK SD 57718 1 06/14/95
00
3160007 03 08/01/95
0
3160007 O 07/01/25
0
1456979 447/447 F 378,400.00
ZZ
WHYNOT 360 377,496.68
1
187 OLD SUTTON ROAD 8.625 2,943.16
80
8.375 2,943.16
473,000.00
BARRINGTON IL 60010 1 07/26/95
00
3162449 05 09/01/95
0
3162449 O 08/01/25
0
1456980 447/447 F 580,000.00
ZZ
BRUNO 360 579,157.77
1
32 MARY COURT 7.625 4,105.20
69
7.375 4,105.20
845,000.00
MELVILLE NY 11747 2 08/31/95
00
3167011 05 11/01/95
0
3167011 O 10/01/25
0
1
1456981 447/447 F 545,000.00
ZZ
MELTZER 360 543,387.20
1
3128 SUMMIT POINTE DRIVE 7.875 3,951.63
79
7.625 3,951.63
690,000.00
TOPANGA CA 90290 2 07/11/95
00
3167570 03 09/01/95
0
3167570 O 08/01/25
0
1456982 447/447 F 636,000.00
ZZ
BLAKE 360 633,837.67
1
8775 CLASSIC DR 8.000 4,666.74
80
7.750 4,666.74
795,000.00
MEMPHIS TN 38125 1 06/22/95
00
3170010 03 08/01/95
0
3170010 O 07/01/25
0
1456983 447/447 F 215,920.00
ZZ
CORROTHERS 360 215,256.71
1
2235 LOCH LOMOND DRIVE 7.375 1,491.31
80
7.125 1,491.31
269,900.00
VIENNA VA 22181 1 07/27/95
00
3171836 03 09/01/95
0
3171836 O 08/01/25
0
1456984 447/447 F 215,000.00
ZZ
KAEMMERLING 360 214,445.90
1
5083 EAST SAN JACINTO CIRCLE 8.250 1,615.23
65
8.000 1,615.23
335,000.00
FALLBROOK CA 92028 1 07/10/95
00
3174784 03 09/01/95
0
3174784 O 08/01/25
0
1456985 447/447 F 263,000.00
ZZ
HARTSOUGH 360 262,036.06
1
1406 LEXINGTON AVENUE 7.625 1,861.50
80
7.375 1,861.50
329,000.00
WESTMINSTER CO 80020 1 06/27/95
00
3175866 03 08/01/95
0
3175866 O 07/01/25
0
1456986 447/447 F 223,200.00
BB
REDDEN 360 222,801.81
1
1
29330 SW LADD HILL ROAD 8.625 1,736.03
90
8.375 1,736.03
248,000.00
SHERWOOD OR 97140 1 08/23/95
12
3176396 05 10/01/95
0
3176396 O 09/01/25
0
1456987 447/447 F 320,000.00
ZZ
METZ 360 318,449.37
1
904 HYACINTH DRIVE 9.375 2,661.60
80
9.125 2,661.60
400,000.00
DELRAY BEACH FL 33483 1 05/25/95
00
3176990 05 07/01/95
0
3176990 O 06/01/25
0
1456988 447/447 F 364,000.00
ZZ
DURAND 360 362,698.70
1
816 GREAT OAKS TRAIL 7.750 2,607.75
80
7.500 2,607.75
455,000.00
EAGAN MN 55123 1 06/30/95
00
3177108 05 08/01/95
0
3177108 O 07/01/25
0
1456989 447/447 F 324,900.00
ZZ
HEISSLER 360 323,767.22
1
18540 ST. MORITZ DRIVE 7.875 2,355.76
65
7.625 2,355.76
500,000.00
LOS ANGELES CA 91356 1 06/15/95
00
3177471 03 08/01/95
0
3177471 O 07/01/25
0
1456990 447/447 F 238,192.00
ZZ
ROMANO, 360 238,032.18
1
13921 ESSEX TRAIL 8.000 1,747.77
80
7.750 1,747.77
297,741.00
APPLE VALLEY MN 55124 1 10/27/95
00
3179519 05 12/01/95
0
3179519 O 11/01/25
0
1456991 447/447 F 257,750.00
ZZ
SCALES 360 257,394.06
1
6651 BAYOU GRANDE BLVD. N.E. 7.875 1,868.87
86
7.625 1,868.87
300,000.00
ST. PETERSBURG FL 33702 1 09/29/95
21
3180969 05 11/01/95
0
1
3180969 O 10/01/25
0
1456992 447/447 F 896,000.00
ZZ
TANNENBAUM 360 895,428.65
1
1705 PLUM THICKET LANE 8.250 6,731.35
70
8.000 6,731.35
1,280,000.00
WEST DES MOINES IA 50265 2 10/20/95
00
3181077 03 12/01/95
0
3181077 O 11/01/25
0
1456993 447/447 F 290,000.00
ZZ
SAFTLER 360 289,784.77
1
6601 196TH AVENUE NE 7.500 2,027.73
79
7.250 2,027.73
370,000.00
REDMOND WA 98053 2 10/27/95
00
3186360 05 12/01/95
0
3186360 O 11/01/25
0
1456994 447/447 F 245,600.00
ZZ
RUGEN 360 244,864.05
1
47892 ALLEGHENY CIRCLE 7.500 1,717.27
80
7.250 1,717.27
307,000.00
STERLING VA 20165 1 07/28/95
00
3188319 03 09/01/95
0
3188319 O 08/01/25
0
1456995 447/447 F 407,400.00
ZZ
OSTLUND 360 407,119.62
1
15248 BOULDER POINTE ROAD 7.875 2,953.94
80
7.625 2,953.94
510,162.00
EDEN PRAIRIE MN 55346 1 10/27/95
00
3189524 05 12/01/95
0
3189524 O 11/01/25
0
1456996 447/447 F 263,950.00
ZZ
BELL 360 263,216.18
1
3728 HEARST CASTLE 7.875 1,913.83
80
7.625 1,913.83
329,990.00
PLANO TX 75025 1 07/28/95
00
3189648 05 09/01/95
0
3189648 O 08/01/25
0
1
1456997 447/447 F 213,750.00
ZZ
WESTIN 360 213,011.62
1
102 2ND ST SE 8.125 1,587.09
94
7.875 1,587.09
228,000.00
CROSBY MN 56441 1 06/30/95
04
3190448 05 08/01/95
0
3190448 O 07/01/25
0
1456998 447/447 F 217,000.00
ZZ
RAUSCHER 360 216,861.63
1
41 NORTHCOTE DRIVE 8.250 1,630.25
70
8.000 1,630.25
310,000.00
MELVILLE NY 11747 1 10/17/95
00
3191191 05 12/01/95
0
3191191 O 11/01/25
0
1456999 447/447 F 245,000.00
ZZ
SVENSON 360 244,831.39
1
18 BALLANTINE ROAD 7.875 1,776.42
55
7.625 1,776.42
450,000.00
MENDHAM NJ 07945 1 10/02/95
00
3193848 03 12/01/95
0
3193848 O 11/01/25
0
1457000 447/447 F 250,000.00
ZZ
SACHS 360 249,493.38
1
126 BIRCHWOOD 8.000 1,834.42
65
7.750 1,834.42
389,650.00
DEERFIELD IL 60015 1 08/18/95
00
3194127 05 10/01/95
0
3194127 O 09/01/25
0
1457001 447/447 F 246,400.00
ZZ
HENDERSON 360 246,059.73
1
41 SILVER BROOK LANE 7.875 1,786.58
78
7.625 1,786.58
316,822.00
GRANBY CT 06035 1 10/05/95
00
3194993 05 11/01/95
0
3194993 O 10/01/25
0
1457002 447/447 F 251,350.00
ZZ
DEVINE 360 251,189.72
1
216 189TH PL SW 8.250 1,888.31
90
8.000 1,888.31
279,321.00
1
BOTHELL WA 98012 1 10/24/95
21
3196568 05 12/01/95
0
3196568 O 11/01/25
0
1457003 447/447 F 588,018.41
ZZ
CHEN 348 587,634.29
1
10 BREEZEY POINT ROAD 8.625 4,610.51
80
8.375 4,610.51
736,000.00
ACTON MA 01720 1 09/30/95
00
3294570 05 11/01/95
0
3294570 O 10/01/24
0
1457004 447/447 F 465,000.00
ZZ
GUTHRIE 360 464,009.04
1
4611 OWENSVILLE SUDLEY ROAD 7.750 3,331.32
62
7.500 3,331.32
756,992.00
HARWOOD MD 20776 1 08/11/95
00
3204053 05 10/01/95
0
3204053 O 09/01/25
0
1457005 447/447 F 250,000.00
ZZ
SALICO 360 249,827.95
1
22769 SE 27TH STREET 7.875 1,812.68
74
7.625 1,812.68
340,990.00
ISSAQUAH WA 98027 1 10/06/95
00
3204420 03 12/01/95
0
3204420 O 11/01/25
0
1457006 447/447 F 310,000.00
ZZ
SCHILL 360 309,180.56
1
10325 BONNY DRIVE 8.125 2,301.75
76
7.875 2,301.75
410,000.00
CUPERTINO CA 95014 1 07/18/95
00
3206056 05 09/01/95
0
3206056 O 08/01/25
0
1457007 447/447 F 650,000.00
ZZ
YARBROUGH 360 636,748.27
1
645 15TH STREET 8.250 4,883.23
80
8.000 4,883.23
815,000.00
MANHATTAN BEACH CA 90266 2 06/02/93
00
3206936 05 08/01/93
0
3206936 O 07/01/23
0
1
1457008 447/447 F 214,400.00
ZZ
MALLORY 360 209,706.48
1
17148 ST. ANDREWS DRIVE 7.250 1,462.59
80
7.000 1,462.59
268,000.00
POWAY CA 92064 1 09/10/93
00
3212528 05 11/01/93
0
3212528 O 10/01/23
0
1457009 447/447 F 307,500.00
ZZ
AALTO 360 301,039.99
1
9681 WEDGEWOOD DR. 7.250 2,097.70
80
7.000 2,097.70
385,000.00
WOODBURY MN 55125 2 10/22/93
00
3212671 03 12/01/93
0
3212671 O 11/01/23
0
1457010 447/447 F 255,000.00
ZZ
KIM 360 254,837.40
1
5800 DEVONSHIRE DRIVE 8.250 1,915.73
84
8.000 1,915.73
305,000.00
BETHESDA MD 20816 2 10/10/95
14
3292123 05 12/01/95
0
3292123 O 11/01/25
0
1457011 447/447 F 290,000.00
ZZ
DOYLE 360 272,595.02
1
4016 FERNWOOD STREET 7.500 2,027.72
79
7.250 2,027.72
368,000.00
SAN MATEO CA 94403 2 07/16/93
00
3212744 05 09/01/93
0
3212744 O 08/01/23
0
1457012 447/447 F 220,950.00
ZZ
CASEY 360 215,016.90
1
987 ALTA VISTA DRIVE 7.500 1,544.91
90
7.250 1,544.91
245,500.00
ALTADENA CA 91001 1 07/27/93
11
3212823 05 09/01/93
0
3212823 O 08/01/23
0
1457013 447/447 F 719,000.00
ZZ
RUSSELL 360 717,981.78
1
1
5760 POWERS FERRY ROAD 7.750 5,151.01
80
7.500 5,151.01
898,750.00
ATLANTA GA 30327 1 09/28/95
00
3217406 05 11/01/95
0
3217406 O 10/01/25
0
1457015 447/447 F 65,000.00
ZZ
VIERA 360 24,154.81
1
1135 MORAVIA STREET 8.000 456.29
71
7.750 456.29
92,000.00
BETHLEHEM PA 18015 1 02/01/88
00
3218897 05 04/01/88
0
3218897 O 03/01/18
0
1457016 447/447 F 400,000.00
ZZ
OKS 360 398,799.42
1
5320 ALBEMARLE STREET 7.500 2,796.86
53
7.250 2,796.86
765,000.00
BETHESDA MD 20816 1 07/12/95
00
3219883 05 09/01/95
0
3219883 O 08/01/25
0
1457017 447/447 F 266,000.00
ZZ
CULP 360 265,830.38
1
24062 HILLHURST DRIVE 8.250 1,998.37
74
8.000 1,998.37
360,000.00
LAGUNA NIGUEL CA 92677 2 10/10/95
00
3295262 05 12/01/95
0
3295262 O 11/01/25
0
1457018 447/447 F 235,750.00
ZZ
RUCKER, 360 235,448.29
1
4960 RHONDA LANE 8.250 1,771.12
90
8.000 1,771.12
261,950.00
LIVERMORE CA 94550 1 09/28/95
21
3220406 05 11/01/95
0
3220406 O 10/01/25
0
1457019 447/447 F 705,000.00
ZZ
STARKER 360 704,120.54
1
7 FLAGLER DRIVE 8.375 5,358.51
55
8.125 5,358.51
1,300,000.00
RYE NY 10580 1 09/18/95
00
3221215 05 11/01/95
0
1
3221215 O 10/01/25
0
1457020 447/447 F 246,400.00
ZZ
ABATE 360 246,250.73
1
2 HIGHLAND LANE 8.500 1,894.60
80
8.250 1,894.60
308,000.00
EAST HAMPTON NY 11937 1 10/06/95
00
3221478 05 12/01/95
0
3221478 O 11/01/25
0
1457021 447/447 F 225,000.00
ZZ
ROMANO 360 224,389.99
1
23453 CHESAPEAKE DRIVE 8.000 1,650.97
61
7.750 1,650.97
372,145.00
KILDEER IL 60047 1 07/20/95
00
3222443 05 09/01/95
0
3222443 O 08/01/25
0
1457022 447/447 F 228,000.00
ZZ
CHOW 360 227,333.60
1
2557 23RD AVENUE 7.625 1,613.77
80
7.375 1,613.77
285,000.00
SAN FRANCISCO CA 94116 1 07/20/95
00
3222587 05 09/01/95
0
3222587 O 08/01/25
0
1457023 447/447 F 440,000.00
T
DUNCAN 360 439,712.18
1
1760 ESTATES DRIVE 8.125 3,266.99
68
7.875 3,266.99
650,000.00
BRECKENRIDGE CO 80424 2 10/13/95
00
3225701 05 12/01/95
0
3225701 O 11/01/25
0
1457024 447/447 F 296,000.00
ZZ
ANZELC 360 295,384.85
1
1762 ROSEMARY LANE 7.875 2,146.21
80
7.625 2,146.21
370,000.00
REDWOOD CITY CA 94061 1 08/07/95
00
3226738 05 10/01/95
0
3226738 O 09/01/25
0
1
1457025 447/447 F 1,000,000.00
ZZ
EVANS 360 997,759.60
1
1275 ARBOR LANE 7.500 6,992.15
59
7.250 6,992.15
1,700,000.00
LAKE FOREST IL 60045 1 08/14/95
00
3227965 05 10/01/95
0
3227965 O 09/01/25
0
1457026 447/447 F 280,000.00
ZZ
KANE 360 279,807.31
1
522 LEWIS STREET 7.875 2,030.19
80
7.625 2,030.19
350,000.00
VIENNA VA 22180 1 10/10/95
00
3229439 05 12/01/95
0
3229439 O 11/01/25
0
1457027 447/447 F 458,500.00
ZZ
TURNER 360 457,405.46
1
3314 COTTONWOOD LANE 8.625 3,566.17
80
8.375 3,566.17
575,000.00
PROVO UT 84604 2 07/21/95
00
3232731 03 09/01/95
0
3232731 O 08/01/25
0
1457029 447/447 F 224,000.00
ZZ
BAKER 360 223,510.52
1
310 GLENLAKE ROAD 7.625 1,585.46
90
7.375 1,585.46
249,430.00
LOVELAND OH 45140 1 08/23/95
14
3236375 03 10/01/95
0
3236375 O 09/01/25
0
1457030 447/447 F 40,000.00
ZZ
IRONS 360 39,180.23
1
209 JACKSON AVE 7.375 276.27
31
7.125 276.27
130,000.00
WILMINGTON DE 19808 2 10/15/93
00
3236697 05 12/01/93
0
3236697 O 11/01/23
0
1457031 447/447 F 496,000.00
ZZ
MORRIS 360 495,092.13
1
1849 NORTH HOWE STREET 8.500 3,813.82
80
8.250 3,813.82
620,000.00
1
CHICAGO IL 60614 1 08/01/95
00
3254516 05 10/01/95
0
3254516 O 09/01/25
0
1457032 447/447 F 238,600.00
ZZ
TESHIMA 360 238,309.88
1
3675 SUMMIT DRIVE 8.500 1,834.63
80
8.250 1,834.63
300,000.00
POCATELLO ID 83201 2 09/20/95
00
3237227 05 11/01/95
0
3237227 O 10/01/25
0
1457033 447/447 F 230,088.00
ZZ
LIDDLE 360 229,770.26
1
1399 PARK LAKE DRIVE 7.875 1,668.30
56
7.625 1,668.30
418,000.00
RESTON VA 22090 2 09/25/95
00
3237584 03 11/01/95
0
3237584 O 10/01/25
0
1457035 447/447 F 308,000.00
ZZ
ANDREWS 360 307,391.48
1
3277 VALS LANE 8.125 2,286.89
80
7.875 2,286.89
385,000.00
LAFAYETTE CA 94549 1 08/10/95
00
3243010 05 10/01/95
0
3243010 O 09/01/25
0
1457036 447/447 F 452,500.00
ZZ
SCHELL 360 448,865.08
1
14932 CLUB RUN PARK DRIVE 8.000 3,320.28
70
7.750 3,320.28
646,476.00
CENTREVILLE VA 22020 1 08/24/95
00
3243250 03 10/01/95
0
3243250 O 09/01/25
0
1457037 447/447 F 504,000.00
ZZ
LEVY 360 503,029.19
1
1030 OLIVE LANE 8.250 3,786.39
70
8.000 3,786.39
720,000.00
LA CANADA CA 91011 1 08/16/95
00
3244003 05 10/01/95
0
3244003 O 09/01/25
0
1
1457039 447/447 F 300,000.00
ZZ
NEWTON 360 299,813.53
1
3005 IRON STONE COURT 8.375 2,280.22
75
8.125 2,280.22
405,000.00
ARLINGTON TX 76006 2 10/10/95
00
3245026 05 12/01/95
0
3245026 O 11/01/25
0
1457040 447/447 F 225,600.00
ZZ
DUNAWAY 360 225,288.46
1
1617 WOODMOOR LANE 7.875 1,635.76
80
7.625 1,635.76
282,000.00
MCLEAN VA 22101 1 09/25/95
00
3250562 05 11/01/95
0
3250562 O 10/01/25
0
1457041 447/447 F 211,500.00
ZZ
HARRIS 360 211,381.43
1
2085 MATTHEWS AVENUE 8.875 1,682.79
90
8.625 1,682.79
235,000.00
BRONX NY 10462 1 10/17/95
04
3251377 05 12/01/95
0
3251377 O 11/01/25
0
1457042 447/447 F 266,000.00
ZZ
GOLD 360 265,487.63
1
25 HIGHLANDS CIRCLE 8.250 1,998.37
70
8.000 1,998.37
380,000.00
BULVERDE TX 78163 2 08/18/95
00
3251696 03 10/01/95
0
3251696 O 09/01/25
0
1457043 447/447 F 334,000.00
ZZ
MCCAHILL 360 333,764.26
1
15230 ARBOR DRIVE 7.750 2,392.82
65
7.500 2,392.82
519,000.00
ORLAND PARK IL 60462 1 10/10/95
00
3251756 05 12/01/95
0
3251756 O 11/01/25
0
1457044 447/447 F 260,000.00
ZZ
SOSNOWSKI 360 259,834.20
1
1
7571 S. QUICK SILVER DRIVE 8.250 1,953.30
79
8.000 1,953.30
332,000.00
SALT LAKE CITY UT 84121 1 10/17/95
00
3252353 05 12/01/95
0
3252353 O 11/01/25
0
1457045 447/447 F 340,000.00
ZZ
SPENCER 300 339,649.68
1
35 SPRING VALLEY ROAD 8.125 2,652.40
90
7.875 2,652.40
380,000.00
WOODBRIDGE CT 06525 2 10/19/95
21
3256704 05 12/01/95
0
3256704 O 11/01/20
0
1457046 447/447 F 260,000.00
ZZ
SPECTOR 360 259,667.26
1
60 LINCOLN STREET 8.250 1,953.30
60
8.000 1,953.30
440,000.00
NEW HAVEN CT 06511 1 10/06/95
00
3256893 05 11/01/95
0
3256893 O 10/01/25
0
1457047 447/447 F 300,000.00
ZZ
WALTERS 360 299,635.22
1
6796 RINCON RD 8.500 2,306.74
47
8.250 2,306.74
640,000.00
CARPINTERIA CA 93013 2 09/11/95
00
3257406 05 11/01/95
0
3257406 O 10/01/25
0
1457048 447/447 F 288,000.00
ZZ
COLE 360 287,486.21
1
4961 AUDUBON DRIVE 8.625 2,240.04
90
8.375 2,240.04
320,000.00
MOBILE AL 36619 1 09/01/95
21
3257492 05 10/01/95
0
3257492 O 09/01/25
0
1457049 447/447 F 260,100.00
ZZ
ABAUD 360 259,358.54
1
2138 WEST 235TH PLACE 7.750 1,863.39
90
7.500 1,863.39
289,000.00
TORRANCE CA 90501 1 07/21/95
04
3257544 05 09/01/95
0
1
3257544 O 08/01/25
0
1457050 447/447 F 288,000.00
T
MACKENZIE 360 287,631.44
1
4968 LOWER SHORE DRIVE 8.250 2,163.65
80
8.000 2,163.65
360,000.00
HARBOR SPRINGS MI 49740 1 09/08/95
00
3257699 05 11/01/95
0
3257699 O 10/01/25
0
1457052 447/447 F 361,250.00
ZZ
WILCOX 360 361,007.61
1
1612 NORAL PLACE 8.000 2,650.72
80
7.750 2,650.72
451,754.00
ALEXANDRIA VA 22308 1 10/10/95
00
3262596 03 12/01/95
0
3262596 O 11/01/25
0
1457054 447/447 F 302,000.00
ZZ
ABRAHAM 360 301,802.44
1
985 CLIFF ROAD 8.125 2,242.35
79
7.875 2,242.35
387,000.00
EAGAN MN 55123 2 10/02/95
00
3265754 05 12/01/95
0
3265754 O 11/01/25
0
1457055 447/447 F 251,200.00
BB
SANDERS 360 250,909.89
1
4818 NARROT STREET 8.750 1,976.19
80
8.500 1,976.19
314,000.00
TORRANCE CA 90503 2 09/28/95
00
3267359 05 11/01/95
0
3267359 O 10/01/25
0
1457056 447/447 F 237,000.00
ZZ
VALENTINE 360 236,719.15
1
4550 DARROW COURT 8.625 1,843.36
69
8.375 1,843.36
345,000.00
FREMONT CA 94536 2 09/11/95
00
3267984 05 11/01/95
0
3267984 O 10/01/25
0
1
1457058 447/447 F 564,000.00
ZZ
JOSEPH 360 563,314.22
1
8509 NAVIDAD DRIVE 8.500 4,336.68
69
8.250 4,336.68
828,000.00
AUSTIN TX 78735 2 09/05/95
00
3270703 05 11/01/95
0
3270703 O 10/01/25
0
1457059 447/447 F 275,000.00
ZZ
SHAH 360 274,805.91
1
1 LAWSON LANE 7.750 1,970.13
62
7.500 1,970.13
448,000.00
GREAT NECK NY 11023 2 10/16/95
00
3272147 05 12/01/95
0
3272147 O 11/01/25
0
1457060 447/447 F 228,600.00
ZZ
LUBASH 360 228,190.64
1
98 SUMMIT WAY 8.500 1,754.74
90
8.250 1,754.74
254,000.00
SYOSSET NY 11791 1 09/01/95
10
3272505 01 10/01/95
0
3272505 O 09/01/25
0
1457061 447/447 F 275,000.00
ZZ
AUSTIN 360 274,849.79
1
19375 RIM LAKE COURT 9.000 2,212.71
72
8.750 2,212.71
386,500.00
BEND OR 97701 2 10/06/95
00
3272917 05 12/01/95
0
3272917 O 11/01/25
0
1457062 447/447 F 267,000.00
ZZ
BARTL 360 266,806.75
1
32 BALDWIN STREET 7.625 1,889.81
79
7.375 1,889.81
339,000.00
PENNINGTON NJ 08534 1 10/20/95
00
3273161 05 12/01/95
0
3273161 O 11/01/25
0
1457063 447/447 F 219,000.00
ZZ
PETTY 360 218,733.72
1
11645 SALEM STREET 8.500 1,683.92
94
8.250 1,683.92
234,000.00
1
BRIGHTON CO 80601 1 09/08/95
10
3273354 05 11/01/95
0
3273354 O 10/01/25
0
1457064 447/447 F 280,000.00
ZZ
STOBBE 360 279,821.45
1
5 HIGH MEADOW LANE 8.250 2,103.55
79
8.000 2,103.55
355,850.00
LONG VALLEY NJ 07853 1 10/31/95
00
3274200 05 12/01/95
0
3274200 O 11/01/25
0
1457065 447/447 F 265,000.00
ZZ
ALSTON 360 264,835.28
1
1260 ST. CLAIRE PLACE 8.375 2,014.20
73
8.125 2,014.20
368,000.00
SCHAUMBURG IL 60173 2 10/19/95
00
3275130 03 12/01/95
0
3275130 O 11/01/25
0
1457066 447/447 F 269,600.00
ZZ
HOJER 360 269,272.18
1
27 COLLEEN DRIVE 8.500 2,073.00
80
8.250 2,073.00
337,000.00
SALEM NH 03079 1 09/29/95
00
3275505 05 11/01/95
0
3275505 O 10/01/25
0
1457067 447/447 F 235,000.00
ZZ
PACKER 360 234,691.51
1
2704 PICARDY PLACE 8.125 1,744.87
80
7.875 1,744.87
295,000.00
CHARLOTTE NC 28209 1 10/03/95
00
3275622 05 11/01/95
0
3275622 O 10/01/25
0
1457068 447/447 F 213,750.00
ZZ
GULIZIA 360 213,496.69
1
4463 CALLE DE VIDA 8.625 1,662.53
95
8.375 1,662.53
225,000.00
SAN DIEGO CA 92124 1 09/22/95
14
3276545 05 11/01/95
0
3276545 O 10/01/25
0
1
1457069 447/447 F 240,000.00
ZZ
THOMAS 360 239,846.96
1
24011 172ND AVENUE SOUTHEAST 8.250 1,803.04
56
8.000 1,803.04
430,000.00
KENT WA 98042 5 10/23/95
00
3314750 05 12/01/95
0
3314750 O 11/01/25
0
1457070 447/447 F 260,000.00
ZZ
WATTS 360 259,829.93
1
13429 228TH STREET SOUTHEAST 8.125 1,930.49
77
7.875 1,930.49
339,000.00
SNOHOMISH WA 98290 2 10/05/95
00
3276931 05 12/01/95
0
3276931 O 11/01/25
0
1457071 447/447 F 330,000.00
ZZ
ALBRIGHT 360 329,789.57
1
6001 EAST 104TH STREET SOUTH 8.250 2,479.18
72
8.000 2,479.18
464,500.00
TULSA OK 74137 1 10/16/95
00
3276932 03 12/01/95
0
3276932 O 11/01/25
0
1457072 447/447 F 297,000.00
ZZ
MENESES 360 296,556.67
1
3272 CAROL LEAF COURT 8.000 2,179.28
88
7.750 2,179.28
340,000.00
SAN JOSE CA 95148 2 09/05/95
14
3277571 05 11/01/95
0
3277571 O 10/01/25
0
1457073 447/447 F 369,000.00
ZZ
KOONTZ 360 368,752.41
1
10607 DONOVAN'S HILL DRIVE 8.000 2,707.59
61
7.750 2,707.59
605,365.00
FAIRFAX STATION VA 22039 1 10/05/95
00
3278212 05 12/01/95
0
3278212 O 11/01/25
0
1457074 447/447 F 319,450.00
ZZ
BAXLEY 360 319,061.58
1
1
5376 EVANWOOD AVENUE 8.500 2,456.29
90
8.250 2,456.29
355,000.00
AGOURA AREA CA 91301 1 09/11/95
11
3278524 05 11/01/95
0
3278524 O 10/01/25
0
1457075 447/447 F 260,000.00
ZZ
KENDALL 360 259,667.28
1
817 E. HIGHLAND VIEW DRIVE 8.250 1,953.29
74
8.000 1,953.29
352,777.00
BOISE ID 83702 1 09/26/95
00
3278878 05 11/01/95
0
3278878 O 10/01/25
0
1457076 447/447 F 311,900.00
ZZ
ROCHEFORD 360 311,500.84
1
4750 255TH STREET 8.250 2,343.21
79
8.000 2,343.21
395,000.00
ELKO MN 55020 2 09/25/95
00
3279145 05 11/01/95
0
3279145 O 10/01/25
0
1457077 447/447 F 238,400.00
ZZ
MARCOUX 360 238,235.93
1
718 CHESSIE CROSSING WAY 7.875 1,728.57
80
7.625 1,728.57
300,000.00
WOODBINE MD 21797 2 10/03/95
00
3279379 05 12/01/95
0
3279379 O 11/01/25
0
1457078 447/447 F 307,000.00
ZZ
MYERS 360 306,799.18
1
1892 PEREGRINE LANE 8.125 2,279.47
70
7.875 2,279.47
440,000.00
SILVERTHORNE CO 80498 2 10/02/95
00
3280194 05 12/01/95
0
3280194 O 11/01/25
0
1457079 447/447 F 247,500.00
ZZ
LAUREANO 360 247,221.47
1
17333 SAN JOSE STREET #106 8.875 1,969.22
90
8.625 1,969.22
275,000.00
LOS ANGELES CA 91344 1 09/13/95
11
3280287 01 11/01/95
0
1
3280287 O 10/01/25
0
1457080 447/447 F 476,000.00
ZZ
GRAY 360 475,359.09
1
27961 PALOS VERDES DRIVE EAST 8.000 3,492.72
70
7.750 3,492.72
680,000.00
RANCHO PALOS VE CA 90275 1 09/19/95
00
3280293 05 11/01/95
0
3280293 O 10/01/25
0
1457081 447/447 F 233,910.00
ZZ
KELLEY 360 233,760.84
1
2018 EAST PHEASANT CIRCLE 8.250 1,757.29
77
8.000 1,757.29
304,500.00
SALT LAKE CITY UT 84121 1 10/27/95
00
3280830 05 12/01/95
0
3280830 O 11/01/25
0
1457082 447/447 F 247,200.00
ZZ
ORLANDO 360 247,042.37
1
2645 WALNUT COURT 8.250 1,857.13
80
8.000 1,857.13
309,000.00
SOQUEL CA 95073 1 10/05/95
00
3281522 05 12/01/95
0
3281522 O 11/01/25
0
1457083 447/447 F 240,000.00
ZZ
YOUNG 360 239,838.97
1
2555 PALOMINO DRIVE 8.000 1,761.03
80
7.750 1,761.03
300,000.00
ACTON CA 93510 2 10/23/95
00
3282005 03 12/01/95
0
3282005 O 11/01/25
0
1457084 447/447 F 294,400.00
ZZ
RITZEL 360 293,993.47
1
5325 SANDY POINT LANE 7.875 2,134.60
95
7.625 2,134.60
310,395.00
CLIFTON VA 22024 1 09/29/95
14
3282160 05 11/01/95
0
3282160 O 10/01/25
0
1
1457085 447/447 F 231,300.00
ZZ
REICHLE 360 230,618.98
1
4622 5TH STREET 8.500 1,778.50
90
8.250 1,778.50
257,000.00
LUBBOCK TX 79416 1 09/27/95
14
3283172 05 11/01/95
0
3283172 O 10/01/25
0
1457086 447/447 F 237,400.00
ZZ
LEDOUX 360 237,240.71
1
2430 BRUSSELS COURT 8.000 1,741.96
95
7.750 1,741.96
249,900.00
RESTON VA 22091 1 10/16/95
11
3283584 05 12/01/95
0
3283584 O 11/01/25
0
1457087 447/447 F 423,500.00
ZZ
SHAUGHNESSY 360 423,236.77
1
483 COUNTRY LANE 8.375 3,218.91
80
8.125 3,218.91
529,430.00
COPPELL TX 75019 1 10/27/95
00
3284267 03 12/01/95
0
3284267 O 11/01/25
0
1457088 447/447 F 260,000.00
T
PICHOT 360 259,667.26
1
26009 MESA OAKS DRIVE 8.250 1,953.30
80
8.000 1,953.30
325,000.00
SAN ANTONIO TX 78255 2 09/15/95
00
3284291 05 11/01/95
0
3284291 O 10/01/25
0
1457090 447/447 F 234,400.00
ZZ
MONTGOMERY 360 233,903.98
1
6017 KELSEY COURT 7.875 1,699.57
80
7.625 1,699.57
293,000.00
FALLS CHURCH VA 22044 1 08/29/95
00
3284665 03 10/01/95
0
3284665 O 09/01/25
0
1457091 447/447 F 277,000.00
ZZ
UNGERLAND 360 276,809.37
1
10415 SOUTH KINGSTON AVENUE 7.875 2,008.44
72
7.625 2,008.44
390,000.00
1
TULSA OK 74137 5 10/09/95
00
3285759 03 12/01/95
0
3285759 O 11/01/25
0
1457092 447/447 F 272,000.00
ZZ
MARSTON 360 271,822.08
1
1524 MANSFIELD COURT 8.125 2,019.59
89
7.875 2,019.59
307,000.00
UPLAND CA 91784 2 10/02/95
10
3285822 05 12/01/95
0
3285822 O 11/01/25
0
1457093 447/447 F 262,800.00
ZZ
DIVAN 360 262,463.69
1
38303 CORTE ALEGRIA 8.250 1,974.33
90
8.000 1,974.33
292,000.00
TEMECULA CA 92592 1 09/14/95
12
3286160 05 11/01/95
0
3286160 O 10/01/25
0
1457094 447/447 F 352,800.00
ZZ
DON 360 352,348.51
1
2224 E. MERCED AVENUE 8.250 2,650.47
80
8.000 2,650.47
441,000.00
WEST COVINA CA 91791 1 09/28/95
00
3287722 05 11/01/95
0
3287722 O 10/01/25
0
1457095 447/447 F 210,600.00
ZZ
KITCHEN 360 210,458.69
1
4311 SPYGLASS 8.000 1,545.31
90
7.750 1,545.31
234,000.00
WICHITA KS 67226 1 10/30/95
11
3287982 03 12/01/95
0
3287982 O 11/01/25
0
1457096 447/447 F 215,900.00
ZZ
HEALY 360 215,594.26
1
427 WINGED FOOT DRIVE 7.750 1,546.73
90
7.500 1,546.73
239,900.00
MC DONOUGH GA 30253 1 09/28/95
04
3289079 03 11/01/95
0
3289079 O 10/01/25
0
1
1457097 447/447 F 232,800.00
ZZ
CLARK 360 232,168.93
1
14 RAYMOND STREET 8.000 1,708.20
80
7.750 1,708.20
291,000.00
DARIEN CT 06820 1 07/26/95
00
7005719 05 09/01/95
0
7005719 O 08/01/25
0
1457098 447/447 F 500,000.00
ZZ
GEPPERT 360 499,273.92
1
3059 WENTWORTH COURT 7.625 3,538.97
78
7.375 3,538.97
645,000.00
JAMUL CA 91935 1 09/15/95
00
3289866 03 11/01/95
0
3289866 O 10/01/25
0
1457099 447/447 F 245,100.00
ZZ
THOMPSON 360 244,935.54
1
4355 EASLEY ROAD 8.000 1,798.46
66
7.750 1,798.46
375,000.00
GOLDEN CO 80403 5 11/01/95
00
3290378 05 12/01/95
0
3290378 O 11/01/25
0
1457100 447/447 F 255,150.00
ZZ
GLENDENNING 360 254,578.35
1
5422 CASTLE BAR LANE 7.500 1,784.05
90
7.250 1,784.05
283,519.00
ALEXANDRIA VA 22315 1 08/29/95
14
3290588 03 10/01/95
0
3290588 O 09/01/25
0
1457101 447/447 F 247,500.00
ZZ
MOYLE 360 247,158.22
1
22328 NORTHEAST 19TH STREET 7.875 1,794.55
87
7.625 1,794.55
287,000.00
REDMOND WA 98053 1 09/25/95
12
3290669 03 11/01/95
0
3290669 O 10/01/25
0
1457102 447/447 F 430,000.00
ZZ
GARSKE 360 429,696.51
1
1
5632 OAKWOOD CIRCLE 7.750 3,080.57
72
7.500 3,080.57
600,000.00
LONG GROVE IL 60047 2 10/12/95
00
3291602 05 12/01/95
0
3291602 O 11/01/25
0
1457103 447/447 F 294,750.00
ZZ
LEONHARDT 360 294,409.60
1
6451 COLTON BOULEVARD 8.750 2,318.80
89
8.500 2,318.80
333,000.00
OAKLAND CA 94611 1 09/19/95
10
3291624 05 11/01/95
0
3291624 O 10/01/25
0
1457104 447/447 F 336,000.00
ZZ
BEDOL 360 335,785.74
1
3423 YANKTON AVENUE 8.250 2,524.26
80
8.000 2,524.26
420,000.00
CLAREMONT CA 91711 1 10/05/95
00
3291826 05 12/01/95
0
3291826 O 11/01/25
0
1457105 447/447 F 276,000.00
ZZ
PODGORSKI 360 275,824.00
1
5917 TOMLINSON 8.250 2,073.50
79
8.000 2,073.50
350,000.00
MCHENRY IL 60050 2 10/11/95
00
3291864 05 12/01/95
0
3291864 O 11/01/25
0
1457106 447/447 F 291,300.00
ZZ
HOUSEHOLDER 360 290,917.59
1
13036 BROOKMEAD DRIVE 8.125 2,162.90
95
7.875 2,162.90
306,700.00
MANASSAS VA 22110 1 09/22/95
12
3291994 03 11/01/95
0
3291994 O 10/01/25
0
1457107 447/447 F 262,500.00
ZZ
GARDNER 360 261,962.71
1
11929 SOUTH HIDDEN CANYON LAN 8.250 1,972.07
70
8.000 1,972.07
376,300.00
SANDY UT 84092 2 09/27/95
00
7050363 05 11/01/95
0
1
7050363 O 10/01/25
0
1457108 447/447 F 259,000.00
ZZ
PULS 360 258,693.06
1
626 NORTH KENILWORTH AVENUE 8.625 2,014.48
79
8.375 2,014.48
330,000.00
OAK PARK IL 60302 1 10/03/95
00
3292253 05 11/01/95
0
3292253 O 10/01/25
0
1457109 447/447 F 216,800.00
ZZ
WALKER 360 216,661.75
1
2915 COCHISE COURT 8.250 1,628.75
70
8.000 1,628.75
310,000.00
PARK CITY UT 84060 5 10/19/95
00
3293122 05 12/01/95
0
3293122 O 11/01/25
0
1457110 447/447 F 278,400.00
ZZ
COHEN 360 278,213.20
1
1163 ALTA MESA 8.000 2,042.80
80
7.750 2,042.80
348,000.00
MORAGA CA 94556 1 10/04/95
00
3293788 03 12/01/95
0
3293788 O 11/01/25
0
1457111 447/447 F 250,000.00
ZZ
BROIZMAN 360 249,696.03
1
37 FRANKLIN STREET 8.500 1,922.28
77
8.250 1,922.28
325,000.00
HAWORTH NJ 07641 1 09/29/95
00
3294257 05 11/01/95
0
3294257 O 10/01/25
0
1457112 447/447 F 221,000.00
ZZ
WHITTEN 360 220,702.43
1
9342 HILLSBOROUGH DRIVE 8.000 1,621.62
87
7.750 1,621.62
256,050.00
FREDERICK MD 21701 1 09/26/95
04
3294591 03 11/01/95
0
3294591 O 10/01/25
0
1
1457114 447/447 F 316,000.00
ZZ
TIMME 360 315,563.63
1
735 RIVER GATE DRIVE 7.875 2,291.22
80
7.625 2,291.22
395,000.00
ATLANTA GA 30350 1 09/29/95
00
3295838 05 11/01/95
0
3295838 O 10/01/25
0
1457115 447/447 F 390,000.00
ZZ
CENKCI 360 389,710.56
1
1836 CALIFORNIA STREET NW 7.500 2,726.94
56
7.250 2,726.94
700,000.00
WASHINGTON DC 20009 2 10/03/95
00
3295926 05 12/01/95
0
3295926 O 11/01/25
0
1457116 447/447 F 391,800.00
ZZ
HENRY 360 391,537.11
1
25 TERRAZA DRIVE 8.000 2,874.89
80
7.750 2,874.89
489,790.00
NEWPORT COAST CA 92657 1 10/02/95
00
3296009 01 12/01/95
0
3296009 O 11/01/25
0
1457117 447/447 F 374,000.00
ZZ
WELLS 360 373,749.05
1
302 BEACHLAND DRIVE 8.000 2,744.28
59
7.750 2,744.28
640,000.00
ATLANTA GA 30342 5 10/02/95
00
3296157 05 12/01/95
0
3296157 O 11/01/25
0
1457118 447/447 F 280,000.00
ZZ
JANNELLI 360 279,830.37
1
23 HILLIARD'S HAYWAY 8.500 2,152.96
70
8.250 2,152.96
400,000.00
WEST BARNSTABLE MA 02668 5 10/04/95
00
3296416 05 12/01/95
0
3296416 O 11/01/25
0
1457119 447/447 F 275,000.00
ZZ
CONVERSE 360 274,810.74
1
4741 EMERSON AVE SOUTH 7.875 1,993.95
68
7.625 1,993.95
408,500.00
1
MINNEAPOLIS MN 55409 1 10/20/95
00
3296550 05 12/01/95
0
3296550 O 11/01/25
0
1457120 447/447 F 228,000.00
ZZ
KLOVER 360 227,854.61
1
500 ASH ROAD 8.250 1,712.89
80
8.000 1,712.89
285,000.00
WARRENTON MO 63383 2 10/20/95
00
3296620 05 12/01/95
0
3296620 O 11/01/25
0
1457121 447/447 F 304,000.00
ZZ
CRENSHAW 360 303,630.36
1
8404 BLACK STALLION PLACE 8.500 2,337.50
80
8.250 2,337.50
380,000.00
VIENNA VA 22182 1 09/29/95
00
3296632 03 11/01/95
0
3296632 O 10/01/25
0
1457122 447/447 F 275,000.00
ZZ
NOVAK 360 274,648.07
1
17870 179TH TRAIL WEST 8.250 2,065.99
74
8.000 2,065.99
375,000.00
LAKEVILLE MN 55044 1 09/26/95
00
3296874 05 11/01/95
0
3296874 O 10/01/25
0
1457123 447/447 F 230,000.00
ZZ
BLACK 360 229,845.67
1
3048 E. NICHOLS CIRCLE 8.000 1,687.66
80
7.750 1,687.66
289,000.00
LITTLETON CO 80122 1 10/31/95
00
3297472 03 12/01/95
0
3297472 O 11/01/25
0
1457124 447/447 F 275,000.00
ZZ
GEISSINGER 360 274,790.74
1
6186 PICKWICK DRIVE 7.375 1,899.36
48
7.125 1,899.36
575,000.00
TALLAHASSEE FL 32308 1 10/20/95
00
3298505 03 12/01/95
0
3298505 O 11/01/25
0
1
1457125 447/447 F 288,000.00
ZZ
NEAL 360 287,806.75
1
1694 MUIRFIELD LANE 8.000 2,113.25
90
7.750 2,113.25
320,000.00
EVERGREEN CO 80439 1 10/23/95
11
3299257 05 12/01/95
0
3299257 O 11/01/25
0
1457126 447/447 F 224,950.00
ZZ
WEINTRAUB 360 224,810.17
1
47-790 VIA NICE 8.375 1,709.79
90
8.125 1,709.79
249,990.00
LA QUINTA CA 92253 1 10/10/95
12
3299447 03 12/01/95
0
3299447 O 11/01/25
0
1457127 447/447 F 258,350.00
ZZ
BOYKIN 360 258,176.64
1
2405 REGAL VIEW COURT 8.000 1,895.69
89
7.750 1,895.69
293,350.00
COLORADO SPRING CO 80919 1 10/12/95
21
3300246 05 12/01/95
0
3300246 O 11/01/25
0
1457128 447/447 F 228,500.00
ZZ
YANNACONE 360 228,500.00
1
9 FARM COTTAGE RD 8.750 1,797.62
52
8.500 1,797.62
440,000.00
GLADSTONE NJ 07934 5 11/01/95
00
3300307 05 01/01/96
0
3300307 O 12/01/25
0
1457129 447/447 F 359,700.00
ZZ
SEGALL 360 359,007.14
1
1353 CORVIDAE STREET 8.250 2,702.31
80
8.000 2,702.31
449,674.00
CARLSBAD CA 92009 1 08/25/95
00
3301030 03 10/01/95
0
3301030 O 09/01/25
0
1457130 447/447 F 340,000.00
ZZ
RODENBERG 360 339,564.89
1
1
5686 BROOKHURST COURT 8.250 2,554.31
76
8.000 2,554.31
450,000.00
SAN JOSE CA 95129 2 09/19/95
00
3301473 05 11/01/95
0
3301473 O 10/01/25
0
1457131 447/447 F 308,000.00
ZZ
MAURER 360 307,822.79
1
5736 NORTH NATOMA AVENUE 8.750 2,423.04
80
8.500 2,423.04
385,000.00
CHICAGO IL 60631 2 10/10/95
00
3301613 05 12/01/95
0
3301613 O 11/01/25
0
1457132 447/447 F 315,000.00
ZZ
KELLY 360 314,793.94
1
4786 VALHALLA DRIVE 8.125 2,338.87
80
7.875 2,338.87
393,900.00
BOULDER CO 80301 1 10/23/95
00
3301953 05 12/01/95
0
3301953 O 11/01/25
0
1457133 447/447 F 325,000.00
ZZ
HILL 360 324,776.33
1
8804 OSPREY ROAD 7.875 2,356.48
90
7.625 2,356.48
365,000.00
BLAINE WA 98230 1 10/12/95
10
3302418 03 12/01/95
0
3302418 O 11/01/25
0
1457134 447/447 F 480,000.00
ZZ
STANLEY 360 479,652.58
1
13 FRIDAY LANE 7.625 3,397.42
80
7.375 3,397.42
600,000.00
CHAPEL HILL NC 27514 2 10/12/95
00
3303064 05 12/01/95
0
3303064 O 11/01/25
0
1457135 447/447 F 243,500.00
ZZ
JENSEN 360 243,344.73
1
2835 CORTINA WAY 8.250 1,829.33
80
8.000 1,829.33
304,400.00
UNION CITY CA 94587 1 10/19/95
00
3310196 03 12/01/95
0
1
3310196 O 11/01/25
0
1457136 447/447 F 328,500.00
ZZ
NOBLETT 360 328,290.52
1
1800 N. KITTRIDGE 8.250 2,467.92
90
8.000 2,467.92
365,000.00
FLAGSTAFF AZ 86001 1 10/10/95
04
3304460 05 12/01/95
0
3304460 O 11/01/25
0
1457137 447/447 F 250,000.00
ZZ
WYATT 360 249,836.47
1
122 RATTO ROAD 8.125 1,856.24
74
7.875 1,856.24
338,095.00
ALAMEDA CA 94502 1 10/16/95
00
3305733 03 12/01/95
0
3305733 O 11/01/25
0
1457138 447/447 F 300,000.00
ZZ
MADDOX 360 299,808.69
1
4504 CRESTHAVEN DRIVE 8.250 2,253.81
35
8.000 2,253.81
880,000.00
COLLEYVILLE TX 76034 2 10/03/95
00
3305898 05 12/01/95
0
3305898 O 11/01/25
0
1457139 447/447 F 222,000.00
ZZ
BROWN 360 221,851.04
1
5940 EAST PAISANO CIRCLE 8.000 1,628.96
80
7.750 1,628.96
277,500.00
PHOENIX AZ 85018 1 10/11/95
00
3305931 05 12/01/95
0
3305931 O 11/01/25
0
1457140 447/447 F 590,000.00
ZZ
PEACOCK 360 589,583.59
1
534 PALOMAR DRIVE 7.750 4,226.83
70
7.500 4,226.83
845,000.00
REDWOOD CITY CA 94062 2 10/06/95
00
3306166 05 12/01/95
0
3306166 O 11/01/25
0
1
1457141 447/447 F 226,400.00
ZZ
ARNOLD 360 226,259.28
1
1 LANCASHIRE COURT 8.375 1,720.80
95
8.125 1,720.80
238,355.00
OWINGS MILLS MD 21117 1 10/26/95
14
3306464 03 12/01/95
0
3306464 O 11/01/25
0
1457142 447/447 F 248,000.00
T
FROILAN 360 247,829.33
1
2752 SEMINOLE CIRCLE 7.875 1,798.17
80
7.625 1,798.17
310,000.00
FAIRFIELD CA 94533 1 10/06/95
00
3306686 05 12/01/95
0
3306686 O 11/01/25
0
1457143 447/447 F 227,500.00
ZZ
COLON 360 227,351.17
1
8 DAVID DRIVE 8.125 1,689.19
95
7.875 1,689.19
239,500.00
ROCKAWAY NJ 07866 1 10/02/95
01
3307381 05 12/01/95
0
3307381 O 11/01/25
0
1457144 447/447 F 250,000.00
ZZ
SHAW 360 249,836.46
1
109 MEADOWBROOK ROAD 8.125 1,856.25
70
7.875 1,856.25
360,000.00
BLAINE COUNTY ID 83333 2 10/20/95
00
3307432 05 12/01/95
0
3307432 O 11/01/25
0
1457145 447/447 F 315,000.00
ZZ
RODGER 360 314,766.22
1
6516 SPYGLASS HILL COURT 7.500 2,202.53
90
7.250 2,202.53
350,000.00
FORT WORTH TX 76132 1 10/12/95
21
3307519 05 12/01/95
0
3307519 O 11/01/25
0
1457146 447/447 F 394,100.00
ZZ
FOSTER 360 393,842.21
1
4151 NORTH COVE DRIVE 8.125 2,926.18
75
7.875 2,926.18
530,000.00
1
PROVO UT 84604 2 10/12/95
00
3307836 05 12/01/95
0
3307836 O 11/01/25
0
1457147 447/447 F 327,000.00
ZZ
EDWARDS 360 326,248.13
1
7249 NORTH SEQUOIA AVENUE 8.250 2,456.65
80
8.000 2,456.65
410,000.00
FRESNO CA 93711 2 10/11/95
00
3308059 05 12/01/95
0
3308059 O 11/01/25
0
1457148 447/447 F 297,000.00
ZZ
GURSKIS 360 296,398.16
1
113 SOMERSET AVENUE 8.000 2,179.28
90
7.750 2,179.28
330,000.00
GARDEN CITY NY 11530 1 08/18/95
14
3308568 05 10/01/95
0
3308568 O 09/01/25
0
1457149 447/447 F 253,520.00
ZZ
MILES 360 253,345.53
1
4759 SO CHESTNUT GLEN DRIVE 7.875 1,838.20
80
7.625 1,838.20
316,900.00
MURRAY UT 84107 1 10/05/95
00
3308711 05 12/01/95
0
3308711 O 11/01/25
0
1457150 447/447 F 400,000.00
ZZ
FLOYD 360 399,738.34
1
1500 HIGHLANDS CT 8.125 2,969.99
80
7.875 2,969.99
500,000.00
COLUMBIA MO 65203 2 10/26/95
00
3308862 05 12/01/95
0
3308862 O 11/01/25
0
1457151 447/447 F 312,000.00
ZZ
STRINGER 360 311,790.65
1
750 RIVER OAKS DRIVE 8.000 2,289.35
80
7.750 2,289.35
390,000.00
FAIRVIEW TX 75069 1 10/24/95
00
3309251 05 12/01/95
0
3309251 O 11/01/25
0
1
1457152 447/447 F 296,900.00
ZZ
BAKHIT 360 296,695.68
1
4826 RIDING RIDGE ROAD 7.875 2,152.73
90
7.625 2,152.73
329,900.00
SAN DIEGO CA 92130 1 10/23/95
14
3309801 05 12/01/95
0
3309801 O 11/01/25
0
1457153 447/447 F 270,000.00
ZZ
DIXON 360 269,804.59
1
305 BLACKTHORN 7.625 1,911.04
78
7.375 1,911.04
350,000.00
BUFFALO GROVE IL 60089 1 11/02/95
00
3310078 05 12/01/95
0
3310078 O 11/01/25
0
1457154 447/447 F 392,000.00
ZZ
LEBENS 360 391,736.97
1
18560 KNOLLWOOD CIRCLE 8.000 2,876.36
80
7.750 2,876.36
490,000.00
LAKEVILLE MN 55044 2 10/19/95
00
3310418 05 12/01/95
0
3310418 O 11/01/25
0
1457155 447/447 F 320,250.00
ZZ
VAUGHAN 360 320,050.94
1
121 SUMMER LAKES DRIVE 8.375 2,434.14
70
8.125 2,434.14
457,500.00
CARY NC 27513 1 11/01/95
00
3311421 03 12/01/95
0
3311421 O 11/01/25
0
1457156 447/447 F 225,000.00
ZZ
ETULAIN 360 224,845.15
1
5452 BADER ROAD 7.875 1,631.41
90
7.625 1,631.41
250,000.00
SANTA ROSA CA 95409 1 10/25/95
11
3312534 05 12/01/95
0
3312534 O 11/01/25
0
1457157 447/447 F 460,000.00
ZZ
SWIGGETT 360 459,728.42
1
1
156 LEONA COURT 8.625 3,577.83
77
8.375 3,577.83
600,000.00
ALAMO CA 94507 5 10/13/95
00
3312828 05 12/01/95
0
3312828 O 11/01/25
0
1457158 447/447 F 562,500.00
ZZ
CROFT 360 562,102.99
1
15211 NORTHEAST 167TH PLACE 7.750 4,029.82
75
7.500 4,029.82
750,000.00
WOODINVILLE WA 98072 1 10/13/95
00
3313140 05 12/01/95
0
3313140 O 11/01/25
0
1457159 447/447 F 600,000.00
ZZ
KAKAR 360 599,627.06
1
7712 NORTH MOONLIGHT LANE 8.375 4,560.44
71
8.125 4,560.44
850,000.00
PARADISE VALLEY AZ 85253 2 10/26/95
00
3313277 05 12/01/95
0
3313277 O 11/01/25
0
1457160 447/447 F 218,000.00
ZZ
O'QUIN 360 217,860.99
1
14105 NE 10TH PLACE 8.250 1,637.76
73
8.000 1,637.76
300,000.00
BELLEVUE WA 98007 1 10/12/95
00
3313365 05 12/01/95
0
3313365 O 11/01/25
0
1457161 447/447 F 492,000.00
ZZ
WRIGHT 360 491,686.27
1
3911 MANDEVILLE CANYON ROAD 8.250 3,696.23
80
8.000 3,696.23
615,000.00
LOS ANGELES CA 90049 2 10/25/95
00
3314330 05 12/01/95
0
3314330 O 11/01/25
0
1457162 447/447 F 272,000.00
ZZ
VAN 360 271,808.03
1
18819 PEONY PLACE 7.750 1,948.64
80
7.500 1,948.64
340,000.00
BEND OR 97701 1 10/05/95
00
3314841 03 12/01/95
0
1
3314841 O 11/01/25
0
1457163 447/447 F 273,000.00
ZZ
STECKER, 360 272,821.42
1
2910 PLEASANT RIDGE COURT 8.125 2,027.02
87
7.875 2,027.02
315,000.00
BETTENDORF IA 52722 1 10/27/95
10
3315221 05 12/01/95
0
3315221 O 11/01/25
0
1457164 447/447 F 352,450.00
ZZ
ROSENBLATT 360 352,194.91
1
12952 OAK LAWN PLACE 7.625 2,494.62
80
7.375 2,494.62
440,575.00
HERNDON VA 22071 1 10/06/95
00
3316437 03 12/01/95
0
3316437 O 11/01/25
0
1457165 447/447 F 220,750.00
ZZ
SPEIRS 360 220,601.88
1
11728 SOUTH PIONEER ROAD 8.000 1,619.79
90
7.750 1,619.79
245,278.00
SANDY UT 84092 1 10/16/95
10
3318186 05 12/01/95
0
3318186 O 11/01/25
0
1457166 447/447 F 315,000.00
ZZ
HANLON 360 314,793.94
1
1345 SOUTH AMBASSADOR WAY 8.125 2,338.87
90
7.875 2,338.87
350,000.00
SALT LAKE CITY UT 84108 1 10/19/95
04
3320013 05 12/01/95
0
3320013 O 11/01/25
0
1457167 447/447 F 450,000.00
ZZ
MOHEB 360 449,760.53
1
290 MORAGA WAY 9.125 3,661.35
55
8.875 3,661.35
825,000.00
ORINDA CA 94563 2 10/09/95
00
3323097 05 12/01/95
0
3323097 O 11/01/25
0
1
1457168 447/447 F 251,200.00
T
SANDERS 360 251,035.67
1
2469 SANDLEWOOD PT 8.125 1,865.16
80
7.875 1,865.16
314,000.00
LAKE CORROLL IL 61646 1 10/30/95
00
3323557 05 12/01/95
0
3323557 O 11/01/25
0
1457169 447/447 F 300,000.00
ZZ
WONG 360 299,808.70
1
513 PASEO REFUGIO 8.250 2,253.80
64
8.000 2,253.80
471,184.00
MILPITAS CA 95035 1 10/13/95
00
3331453 05 12/01/95
0
3331453 O 11/01/25
0
1457171 447/447 F 257,700.00
ZZ
HOOPER 360 257,531.42
1
11221 39TH DRIVE SOUTHEAST 8.125 1,913.42
87
7.875 1,913.42
296,191.00
EVERETT WA 98208 1 10/24/95
10
3325551 05 12/01/95
0
3325551 O 11/01/25
0
1457172 447/447 F 215,950.00
ZZ
COTTLE 360 215,568.55
1
14950 NORTHEAST 147TH PLACE 8.000 1,584.56
90
7.750 1,584.56
239,950.00
WOODINVILLE WA 98072 1 09/27/95
10
7001830 03 11/01/95
0
7001830 O 10/01/25
0
1457173 447/447 F 176,000.00
ZZ
VALADARES 360 175,590.52
1
6 STYLES LANE 8.750 1,384.59
80
8.500 1,384.59
220,000.00
NORWALK CT 06851 1 07/31/95
00
7005874 05 09/01/95
0
7005874 O 08/01/25
0
1457174 447/447 F 300,000.00
ZZ
DEFORD 360 299,616.08
1
73 CLAPBOARD HILL ROAD 8.250 2,253.80
32
8.000 2,253.80
965,000.00
1
WESTPORT CT 06880 5 09/13/95
00
7006273 05 11/01/95
0
7006273 O 10/01/25
0
1457175 447/447 F 266,000.00
ZZ
HASTINGS, 360 265,613.74
1
11 LYNN COURT 7.625 1,882.73
80
7.375 1,882.73
332,500.00
DARIEN CT 06820 1 09/29/95
00
7006320 05 11/01/95
0
7006320 O 10/01/25
0
1457176 447/447 F 240,000.00
ZZ
VELASCO 360 239,676.85
1
210 SOUTH PLATEAU DRIVE 8.000 1,761.04
74
7.750 1,761.04
325,000.00
WEST COVINA CA 91791 5 09/22/95
00
7008223 05 11/01/95
0
7008223 O 10/01/25
0
1457177 447/447 F 250,000.00
ZZ
MCDANNOLD 360 249,149.30
1
6102 SYDNEY DRIVE 8.250 1,878.17
80
8.000 1,878.17
312,500.00
HUNTINGTON BEAC CA 92647 2 09/22/95
00
7009492 05 11/01/95
0
7009492 O 10/01/25
0
1457178 447/447 F 132,000.00
ZZ
HANSON 360 131,917.95
1
13191 DRONFIELD AVENUE 8.375 1,003.30
80
8.125 1,003.30
165,000.00
LOS ANGELES CA 91342 5 10/04/95
00
7009493 05 12/01/95
0
7009493 O 11/01/25
0
1457179 447/447 F 284,000.00
ZZ
KARAFFA 360 283,415.55
1
2 SANTA COMBA 7.375 1,961.52
80
7.125 1,961.52
355,000.00
IRVINE CA 92714 1 09/25/95
00
7009498 03 11/01/95
0
7009498 O 10/01/25
0
1
1457180 447/447 F 166,500.00
ZZ
STEWART 360 166,388.28
1
2152 EAST 52ND TERRACE 8.000 1,221.72
75
7.750 1,221.72
222,000.00
BELLINGHAM WA 98226 1 10/03/95
00
7009514 05 12/01/95
0
7009514 O 11/01/25
0
1457181 447/447 F 356,000.00
ZZ
BRONSTONE 360 355,729.12
1
28520 BLYTHEWOOD DRIVE 7.375 2,458.80
69
7.125 2,458.80
520,000.00
RANCHO PALOS VE CA 90275 1 10/04/95
00
7009523 05 12/01/95
0
7009523 O 11/01/25
0
1457182 447/447 F 236,750.00
BB
SANTOS 360 236,076.47
1
19939 AHWANEE LANE 8.875 1,883.69
90
8.625 1,883.69
263,097.00
(NORTHRIDGE ARE CA 91326 1 06/22/95
10
7011058 03 08/01/95
0
7011058 O 07/01/25
0
1457183 447/447 F 106,400.00
ZZ
WAGNER 360 106,335.55
1
5405 SHEPHERD ACTON ROAD 8.500 818.12
80
8.250 818.12
133,000.00
SHEPHERD MT 59079 2 10/19/95
00
7012671 05 12/01/95
0
7012671 O 11/01/25
0
1457184 447/447 F 292,000.00
ZZ
NORMAN 360 291,804.08
1
5 FAIRLANE ROAD 8.000 2,142.59
79
7.750 2,142.59
370,000.00
LAGUNA NIGUEL CA 92677 2 10/16/95
00
7052302 03 12/01/95
0
7052302 O 11/01/25
0
1457185 447/447 F 255,500.00
ZZ
ALTENBURG 360 255,181.29
1
1
598 N. TURNBERRY DRIVE 8.375 1,941.98
95
8.125 1,941.98
269,000.00
ORANGE CA 92669 1 09/27/95
11
7021045 03 11/01/95
0
7021045 O 10/01/25
0
1457186 447/447 F 84,800.00
ZZ
HUOVINEN 360 84,443.48
1
445 CAPERTINO STREET 9.000 682.32
80
8.750 682.32
106,000.00
LAS VEGAS NV 89128 2 08/23/95
00
7028148 05 10/01/95
0
7028148 O 09/01/25
0
1457187 447/447 F 62,200.00
ZZ
KAKALIA 360 62,128.16
1
7950 WEST FLAMINGO ROAD #20 8.750 489.33
77
8.500 489.33
80,990.00
LAS VEGAS NV 89117 1 09/19/95
00
7028264 01 11/01/95
0
7028264 O 10/01/25
0
1457188 447/447 F 87,700.00
ZZ
PRINCE 360 87,652.10
1
740 PANHANDLE DRIVE 9.000 705.65
80
8.750 705.65
109,650.00
HENDERSON NV 89014 1 10/02/95
00
7028319 03 12/01/95
0
7028319 O 11/01/25
0
1457189 447/447 F 136,000.00
ZZ
ERQUIAGA 360 135,917.61
1
13940 RANCHEROS DRIVE 8.500 1,045.72
80
8.250 1,045.72
170,000.00
RENO NV 89511 1 10/11/95
00
7028325 05 12/01/95
0
7028325 O 11/01/25
0
1457190 447/447 F 312,000.00
ZZ
MARCHETTO 360 311,235.88
1
66 ELMWOOD AVENUE 8.500 2,399.01
80
8.250 2,399.01
390,000.00
CHATHAM NJ 07928 1 08/03/95
00
7035905 05 09/01/95
0
1
7035905 O 08/01/25
0
1457191 447/447 F 325,000.00
ZZ
COOPER 360 324,307.41
1
1292 HASTINGS STREET 7.750 2,328.34
79
7.500 2,328.34
413,333.00
TEANECK NJ 07666 1 08/08/95
00
7036269 05 10/01/95
0
7036269 O 09/01/25
0
1457192 447/447 F 290,000.00
ZZ
BUENO 360 289,193.82
1
9842 NORTH 22ND PLACE 7.875 2,102.70
86
7.625 2,102.70
337,500.00
PHOENIX AZ 85028 1 07/19/95
12
7039437 03 09/01/95
0
7039437 O 08/01/25
0
1457193 447/447 F 456,000.00
ZZ
BARBERAN 360 455,701.71
1
3709 VIA HALCON 8.125 3,385.79
80
7.875 3,385.79
570,000.00
CALABASAS CA 91302 2 10/12/95
00
7052278 03 12/01/95
0
7052278 O 11/01/25
0
1457194 447/447 F 249,250.00
ZZ
BENNETT 360 249,078.46
1
67 SUTTON PLACE EAST 7.875 1,807.24
90
7.625 1,807.24
276,951.00
PALM DESERT CA 92211 1 10/13/95
12
7052382 03 12/01/95
0
7052382 O 11/01/25
0
1457195 447/447 F 419,900.00
ZZ
MARKLE 360 419,618.25
1
2 CAMEO CREST 8.000 3,081.08
80
7.750 3,081.08
524,900.00
LAGUNA NIGUEL CA 92677 1 10/10/95
00
7052395 03 12/01/95
0
7052395 O 11/01/25
0
1
1457196 447/447 F 229,600.00
ZZ
DADRAS 360 229,460.90
1
61 RAVEN LANE 8.500 1,765.43
95
8.250 1,765.43
241,721.00
ALISO VIEJO ARE CA 92656 1 10/24/95
12
7052464 03 12/01/95
0
7052464 O 11/01/25
0
1457197 447/447 F 361,800.00
ZZ
SCHULKIND 360 361,325.08
1
4377 NEWPORT AVENUE 8.125 2,686.35
90
7.875 2,686.35
402,000.00
SAN DIEGO CA 92107 2 09/07/95
04
7054261 05 11/01/95
0
7054261 O 10/01/25
0
1457198 447/447 F 356,000.00
ZZ
HAHN 360 355,418.88
1
1164 SUNRISE WAY 8.125 2,643.29
80
7.875 2,643.29
445,000.00
SAN MARCOS CA 92069 1 09/12/95
00
7054485 05 11/01/95
0
7054485 O 10/01/25
0
1457199 447/447 F 400,000.00
ZZ
STALEY 360 399,286.41
1
25852 SOUTHEAST 22ND PLACE 8.625 3,111.16
87
8.375 3,111.16
460,950.00
ISSAQUAH WA 98027 1 08/21/95
10
7056123 03 10/01/95
0
7056123 O 09/01/25
0
1457200 447/447 F 350,000.00
ZZ
FALLON 360 348,717.20
1
761 NW 101 TERRACE 7.625 2,477.28
88
7.375 2,477.28
399,900.00
PLANTATION FL 33324 1 06/27/95
14
7059719 03 08/01/95
0
7059719 O 07/01/25
0
1457201 447/447 F 360,000.00
T
GORDON 360 359,584.25
1
2600 S OCEAN BLVD UNIT 201 8.750 2,832.12
80
8.500 2,832.12
450,000.00
1
PALM BEACH FL 33480 1 09/14/95
00
7059737 08 11/01/95
0
7059737 O 10/01/25
0
1457202 447/447 F 70,400.00
T
HYDE 360 70,176.56
1
3620 N W 33RD TERRACE 8.750 553.84
80
8.500 553.84
88,000.00
LAUDERDALE LAKE FL 33309 5 08/31/95
00
7060039 05 10/01/95
0
7060039 O 09/01/25
0
1457203 447/447 F 228,250.00
ZZ
BENNER 360 227,934.81
1
5390 SHATTUCK AVENUE 7.875 1,654.97
90
7.625 1,654.97
255,000.00
FREMONT CA 94555 2 09/14/95
11
7067669 03 11/01/95
0
7067669 O 10/01/25
0
1457204 447/447 F 76,000.00
ZZ
HEINEMEIER 360 75,905.21
1
6786 MANGRUM CIRCLE 8.375 577.65
80
8.125 577.65
95,000.00
LAS VEGAS NV 89103 5 09/25/95
00
7140530 05 11/01/95
0
7140530 O 10/01/25
0
1457205 447/447 F 261,000.00
ZZ
OVERMAN 360 260,674.41
1
41390 CHAPARRAL DRIVE 8.375 1,983.79
75
8.125 1,983.79
350,000.00
TEMECULA CA 92592 2 09/15/95
00
7147972 03 11/01/95
0
7147972 O 10/01/25
0
1457206 447/447 F 239,850.00
ZZ
ZUMWALT 360 239,689.07
1
844 AVENIDA LOMA VISTA 8.000 1,759.93
89
7.750 1,759.93
270,000.00
SAN DIMAS CA 91773 1 10/13/95
14
7148170 05 12/01/95
0
7148170 O 11/01/25
0
1
1457207 447/447 F 301,960.00
ZZ
YOUNG 360 301,757.39
1
105 PALM BEACH COURT 8.000 2,215.68
80
7.750 2,215.68
377,450.00
DANA POINT CA 92629 1 10/10/95
00
7148299 03 12/01/95
0
7148299 O 11/01/25
0
1457208 447/447 F 252,000.00
ZZ
CATALANO 360 251,693.60
1
5 LEWIS COURT 8.500 1,937.66
80
8.250 1,937.66
315,000.00
MILLSTONE TOWNS NJ 08510 1 09/29/95
00
7155609 05 11/01/95
0
7155609 O 10/01/25
0
1457210 447/447 F 247,000.00
ZZ
YANG 360 244,272.36
1
9 ADRIAN WAY 8.625 1,921.14
95
8.375 1,921.14
260,000.00
EDISON NJ 08820 1 09/27/95
12
7155821 05 11/01/95
0
7155821 O 10/01/25
0
1457211 447/447 F 319,350.00
ZZ
NANISETTY 360 318,886.25
1
8 YELLOWSTON DRIVE 7.625 2,260.34
80
7.375 2,260.34
399,206.00
WEST WINDSOR NJ 08648 1 09/29/95
00
7155886 05 11/01/95
0
7155886 O 10/01/25
0
1457214 447/447 F 352,000.00
ZZ
GEROLIMATOS 360 351,560.91
1
305 CLIFTON AVENUE 8.375 2,675.45
80
8.125 2,675.45
440,000.00
SAN CARLOS CA 94070 1 09/20/95
00
7156574 05 11/01/95
0
7156574 O 10/01/25
0
1457215 447/447 F 350,000.00
ZZ
MCFANN 360 349,013.41
1
1
SAN ANTONIO AVE. 2 S.E. 7.875 2,537.74
47
7.625 2,537.74
750,000.00
CARMEL CA 93921 2 09/19/95
00
7156731 05 11/01/95
0
7156731 O 10/01/25
0
1457216 447/447 F 422,150.00
ZZ
MC 360 421,880.81
1
2116 HILLSTONE DRIVE 8.250 3,171.47
80
8.000 3,171.47
527,702.00
SAN JOSE CA 95138 1 10/05/95
00
7156788 05 12/01/95
0
7156788 O 11/01/25
0
1457217 447/447 F 259,800.00
ZZ
DRISCOLL 360 259,654.35
1
818 CHURCH STREET 8.875 2,067.09
84
8.625 2,067.09
312,000.00
SAN FRANCISCO CA 94114 2 10/05/95
12
7156793 01 12/01/95
0
7156793 O 11/01/25
0
1457218 447/447 F 218,550.00
ZZ
POMERENKE 360 217,926.99
1
5552 WELLS FARGO DRIVE 7.750 1,565.72
90
7.500 1,565.72
242,879.00
COLORADO SPRING CO 80917 1 08/02/95
12
8415507 05 09/01/95
0
8415507 O 08/01/25
0
1457219 447/447 F 299,900.00
ZZ
ZERMENO 360 299,276.77
1
19692 HIGHRIDGE WAY 7.875 2,174.48
90
7.625 2,174.48
333,266.00
TRABUCO CANYON CA 92679 1 08/24/95
14
8636193 05 10/01/95
0
8636193 O 09/01/25
0
1457280 447/447 F 214,000.00
ZZ
SMITH1 360 213,860.01
1
15 CLIFTON AVENUE 8.125 1,588.95
80
7.875 1,588.95
267,500.00
MARBLEHEAD MA 01945 1 10/02/95
00
2016113 05 12/01/95
0
1
2016113 O 11/01/25
0
1457281 447/447 F 270,000.00
ZZ
SMITH2 360 269,268.08
1
1024 CHEROKEE RD 8.000 1,981.16
90
7.750 1,981.16
300,000.00
PERRY GA 31069 2 07/19/95
10
3181719 05 09/01/95
0
3181719 O 08/01/25
0
1457282 447/447 F 278,000.00
ZZ
SMITH3 360 277,226.85
1
3217 ADELANTO LANE 7.875 2,015.69
80
7.625 2,015.69
347,532.00
SAN JOSE CA 95135 1 07/11/95
00
3183914 05 09/01/95
0
3183914 O 08/01/25
0
1457283 447/447 F 243,400.00
ZZ
MARTIN1 360 243,236.68
1
4904 RHONDA LANE 8.000 1,785.98
80
7.750 1,785.99
304,275.00
LIVERMORE CA 94550 1 10/11/95
10
3111285 05 12/01/95
0
3111285 O 11/01/25
0
1457284 447/447 F 275,000.00
ZZ
SMITH4 360 273,929.55
1
12709 BENBROOK PLACE 8.250 2,065.99
88
8.000 2,065.99
315,000.00
BAKERSFIELD CA 93312 1 06/25/95
21
2005493 05 07/01/95
0
2005493 O 06/01/25
0
1457396 447/447 F 382,500.00
ZZ
GAINES1 360 381,799.88
1
6785 CORDOVA CIRCLE 8.500 2,941.10
85
8.250 2,941.10
450,000.00
LAS CRUCES NM 88005 2 08/28/95
21
1922146 05 10/01/95
0
1922146 O 09/01/25
0
1
1457397 447/447 F 300,000.00
ZZ
SULLIVAN1 360 299,450.88
1
41237 OCEANVIEW DRIVE 8.500 2,306.75
79
8.250 2,306.75
380,000.00
AVON NC 27915 1 08/18/95
00
2020700 03 10/01/95
0
2020700 O 09/01/25
0
1457398 447/447 F 550,000.00
ZZ
MARTIN7 360 549,658.14
1
6204 EAST JOSHUA TREE LANE 8.375 4,180.40
76
8.125 4,180.40
725,000.00
PARADISE VALLEY AZ 85253 1 10/03/95
00
2029504 05 12/01/95
0
2029504 O 11/01/25
0
1457400 447/447 F 410,000.00
ZZ
CHEN1 360 409,210.24
1
18 MONTGOMERY LANE 8.250 3,080.20
58
8.000 3,080.20
710,000.00
GREENWICH CT 06830 1 08/17/95
00
3200610 05 10/01/95
0
3200610 O 09/01/25
0
1457401 447/447 F 220,500.00
ZZ
KIM1 360 215,785.41
1
141 NORTH DEERWOOD STREET 7.375 1,522.94
90
7.125 1,522.94
245,000.00
ORANGE CA 92669 2 09/23/93
11
3212740 05 11/01/93
0
3212740 O 10/01/23
0
1457402 447/447 F 233,750.00
ZZ
CULP1 360 233,083.65
1
1705 WALNUT CREEK DR 7.750 1,674.62
76
7.500 1,674.62
310,000.00
CHINO HILLS CA 91706 2 07/19/95
00
3220375 05 09/01/95
0
3220375 O 08/01/25
0
1457403 447/447 F 53,100.00
ZZ
MORRIS1 360 49,181.51
1
1318 ENGLEWOOD AVE 8.625 416.34
95
8.375 416.34
55,900.00
1
ST PAUL MN 55104 1 11/23/87
14
3236738 05 01/01/88
0
3236738 O 12/01/17
0
1457404 447/447 F 266,000.00
ZZ
THOMAS1 360 265,668.16
1
4 FURNESS LANE 8.375 2,021.80
95
8.125 2,021.80
280,000.00
WALLINFORD PA 19086 1 09/29/95
01
3276645 05 11/01/95
0
3276645 O 10/01/25
0
1457406 447/447 F 218,000.00
ZZ
GARDNER1 360 217,830.63
1
41 KILLYBEGS ROAD 7.875 1,580.65
69
7.625 1,580.65
318,000.00
ALAMEDA CA 94502 2 10/04/95
00
3292169 03 12/01/95
0
3292169 O 11/01/25
0
1457407 447/447 F 255,000.00
ZZ
JENSEN1 360 254,833.19
1
916 SOUTH 800 EAST CIRCLE 8.125 1,893.37
75
7.875 1,893.37
340,000.00
ST GEORGE UT 84790 1 10/10/95
00
3303950 05 12/01/95
0
3303950 O 11/01/25
0
1457408 447/447 F 263,500.00
ZZ
WONG1 360 263,323.20
1
254 STETSON DRIVE 8.000 1,933.47
80
7.750 1,933.47
329,431.00
DANVILLE CA 94506 1 10/18/95
00
3324166 05 12/01/95
0
3324166 O 11/01/25
0
1457409 447/447 F 88,200.00
ZZ
NORMAN7 360 88,142.31
1
25535 SUN CITY BOULEVARD 8.125 654.88
64
7.875 654.88
138,239.00
SUN CITY CA 92586 1 10/03/95
00
7020844 05 12/01/95
0
7020844 O 11/01/25
0
TOTAL NUMBER OF LOANS : 1,127
TOTAL ORIGINAL BALANCE : 329,863,512.30
TOTAL PRINCIPAL BALANCE : 326,331,688.47
TOTAL ORIGINAL P+I : 2,451,393.01
TOTAL CURRENT P+I : 2,451,393.02
***************************
* END OF REPORT *
***************************
RUN ON : 12/11/95 RFC DISCLOSURE SYSTEM
RFFSDFIX-01
AT : 10.18.45 FIXED PASSTHRU REPORT
AMORTIZED BALANCE
SERIES : RFMSI I 1995 R-20
CUTOFF : 12/01/95
POOL : 0010044
:
:
POOL STATUS: F
RFC LOAN NUMBER SUB SERV FEE
PRINCIPAL BALANCE MSTR SERV FEE
CURR NOTE RATE ALL EXP
MISC EXP
NET MTG RATE(INVSTR RATE) SPREAD
POST STRIP RATE STRIP
- -----------------------------------------------------------------
- --------------
1455361 .0000
533,830.94 .2500
7.6250 .0000
.0200
7.3550 .0000
7.3550 .0000
1455362 .0000
196,372.94 .2500
9.2500 .0000
.0200
7.5000 1.4800
7.5000 .0000
1455363 .0000
204,353.93 .2500
8.3750 .0000
.0200
7.5000 .6050
7.5000 .0000
1455365 .0000
270,788.86 .2500
9.6250 .0000
.0200
7.5000 1.8550
7.5000 .0000
1455366 .0000
372,565.53 .2500
9.2500 .0000
.0200
7.5000 1.4800
7.5000 .0000
1455368 .0000
274,103.14 .2500
9.5000 .0000
.0200
7.5000 1.7300
7.5000 .0000
1
1455369 .0000
266,641.70 .2500
8.7500 .0000
.0200
7.5000 .9800
7.5000 .0000
1455370 .0000
299,635.21 .2500
8.5000 .0000
.0200
7.5000 .7300
7.5000 .0000
1455371 .0000
598,901.79 .2500
8.5000 .0000
.0200
7.5000 .7300
7.5000 .0000
1455372 .0000
259,727.11 .2500
9.7500 .0000
.0200
7.5000 1.9800
7.5000 .0000
1455373 .0000
273,508.38 .2500
8.3750 .0000
.0200
7.5000 .6050
7.5000 .0000
1455374 .2500
247,671.00 .0500
8.6250 .0000
.0200
7.5000 .8050
7.5000 .0000
1455375 .2500
127,142.48 .0500
8.3750 .0000
.0200
7.5000 .5550
7.5000 .0000
1455377 .0000
241,810.63 .2500
9.3750 .0000
.0200
7.5000 1.6050
7.5000 .0000
1
1455378 .0000
229,497.41 .2500
7.6250 .0000
.0200
7.3550 .0000
7.3550 .0000
1455379 .0000
262,170.69 .2500
9.0000 .0000
.0200
7.5000 1.2300
7.5000 .0000
1455380 .0000
250,201.03 .2500
8.1250 .0000
.0200
7.5000 .3550
7.5000 .0000
1455381 .0000
274,645.51 .2500
9.5000 .0000
.0200
7.5000 1.7300
7.5000 .0000
1455382 .0000
211,261.98 .2500
8.8750 .0000
.0200
7.5000 1.1050
7.5000 .0000
1455383 .0000
214,606.46 .2500
8.5000 .0000
.0200
7.5000 .7300
7.5000 .0000
1455384 .0000
242,194.37 .2500
8.1250 .0000
.0200
7.5000 .3550
7.5000 .0000
1455385 .0000
229,995.28 .2500
7.8750 .0000
.0200
7.5000 .1050
7.5000 .0000
1
1455386 .0000
232,174.99 .2500
8.3750 .0000
.0200
7.5000 .6050
7.5000 .0000
1455387 .0000
523,169.58 .2500
7.8750 .0000
.0200
7.5000 .1050
7.5000 .0000
1455388 .0000
271,098.21 .2500
8.1250 .0000
.0200
7.5000 .3550
7.5000 .0000
1455389 .0000
325,859.92 .2500
7.8750 .0000
.0200
7.5000 .1050
7.5000 .0000
1455390 .0000
275,052.40 .2500
7.3750 .0000
.0200
7.1050 .0000
7.1050 .0000
1455391 .0000
349,342.78 .2500
8.3750 .0000
.0200
7.5000 .6050
7.5000 .0000
1455392 .0000
247,546.07 .2500
8.5000 .0000
.0200
7.5000 .7300
7.5000 .0000
1455393 .0000
231,505.58 .2500
7.7500 .0000
.0200
7.4800 .0000
7.4800 .0000
1
1455394 .0000
359,048.39 .2500
8.1250 .0000
.0200
7.5000 .3550
7.5000 .0000
1455395 .0000
273,580.36 .2500
8.3750 .0000
.0200
7.5000 .6050
7.5000 .0000
1455396 .0000
292,144.33 .2500
8.5000 .0000
.0200
7.5000 .7300
7.5000 .0000
1455397 .0000
203,654.34 .2500
8.8750 .0000
.0200
7.5000 1.1050
7.5000 .0000
1455398 .0000
335,319.13 .2500
8.0000 .0000
.0200
7.5000 .2300
7.5000 .0000
1455399 .0000
244,829.65 .2500
8.2500 .0000
.0200
7.5000 .4800
7.5000 .0000
1455400 .0000
296,619.91 .2500
8.2500 .0000
.0200
7.5000 .4800
7.5000 .0000
1455401 .0000
244,502.33 .2500
8.5000 .0000
.0200
7.5000 .7300
7.5000 .0000
1
1455402 .0000
235,525.29 .2500
8.2500 .0000
.0200
7.5000 .4800
7.5000 .0000
1455403 .0000
240,728.78 .2500
8.8750 .0000
.0200
7.5000 1.1050
7.5000 .0000
1455404 .0000
260,497.26 .2500
8.2500 .0000
.0200
7.5000 .4800
7.5000 .0000
1455405 .0000
234,036.68 .2500
8.1250 .0000
.0200
7.5000 .3550
7.5000 .0000
1455406 .0000
267,973.77 .2500
8.5000 .0000
.0200
7.5000 .7300
7.5000 .0000
1455407 .0000
249,680.06 .2500
8.2500 .0000
.0200
7.5000 .4800
7.5000 .0000
1455408 .0000
239,367.39 .2500
7.8750 .0000
.0200
7.5000 .1050
7.5000 .0000
1455409 .0000
234,214.86 .2500
8.5000 .0000
.0200
7.5000 .7300
7.5000 .0000
1
1455410 .0000
285,215.44 .2500
8.0000 .0000
.0200
7.5000 .2300
7.5000 .0000
1455411 .0000
203,873.20 .2500
8.3750 .0000
.0200
7.5000 .6050
7.5000 .0000
1455412 .0000
374,482.14 .2500
7.8750 .0000
.0200
7.5000 .1050
7.5000 .0000
1455413 .0000
398,948.31 .2500
7.8750 .0000
.0200
7.5000 .1050
7.5000 .0000
1455414 .0000
274,656.95 .2500
8.3750 .0000
.0200
7.5000 .6050
7.5000 .0000
1455415 .0000
227,700.69 .2500
8.1250 .0000
.0200
7.5000 .3550
7.5000 .0000
1455416 .0000
299,635.21 .2500
8.5000 .0000
.0200
7.5000 .7300
7.5000 .0000
1455417 .0000
230,065.36 .2500
9.5000 .0000
.0200
7.5000 1.7300
7.5000 .0000
1
1455420 .0000
232,017.83 .2500
9.2500 .0000
.0200
7.5000 1.4800
7.5000 .0000
1455421 .0000
332,010.14 .2500
9.8750 .0000
.0200
7.5000 2.1050
7.5000 .0000
1455422 .0000
498,644.54 .2500
8.0000 .0000
.0200
7.5000 .2300
7.5000 .0000
1455423 .0000
224,158.32 .2500
9.8750 .0000
.0200
7.5000 2.1050
7.5000 .0000
1455424 .0000
296,999.59 .2500
7.6250 .0000
.0200
7.3550 .0000
7.3550 .0000
1455425 .0000
473,223.00 .2500
9.8750 .0000
.0200
7.5000 2.1050
7.5000 .0000
1455427 .0000
278,867.12 .2500
9.5000 .0000
.0200
7.5000 1.7300
7.5000 .0000
1455428 .0000
241,269.90 .2500
9.5000 .0000
.0200
7.5000 1.7300
7.5000 .0000
1
1455429 .0000
231,586.10 .2500
8.6250 .0000
.0200
7.5000 .8550
7.5000 .0000
1455430 .0000
256,643.23 .2500
9.2500 .0000
.0200
7.5000 1.4800
7.5000 .0000
1455431 .0000
313,768.07 .2500
9.0000 .0000
.0200
7.5000 1.2300
7.5000 .0000
1455432 .0000
243,884.17 .2500
9.8750 .0000
.0200
7.5000 2.1050
7.5000 .0000
1455433 .0000
225,145.57 .2500
9.0000 .0000
.0200
7.5000 1.2300
7.5000 .0000
1455434 .0000
250,895.39 .2500
9.3750 .0000
.0200
7.5000 1.6050
7.5000 .0000
1455435 .0000
317,177.47 .2500
9.3750 .0000
.0200
7.5000 1.6050
7.5000 .0000
1455436 .0000
237,754.84 .2500
9.3750 .0000
.0200
7.5000 1.6050
7.5000 .0000
1
1455437 .2500
298,310.93 .0500
9.5000 .0000
.0200
7.5000 1.6800
7.5000 .0000
1455439 .2500
309,682.05 .0500
9.0000 .0000
.0200
7.5000 1.1800
7.5000 .0000
1455440 .2500
204,904.93 .0500
12.0000 .0000
.0200
7.5000 4.1800
7.5000 .0000
1455441 .2500
220,919.14 .0500
8.5000 .0000
.0200
7.5000 .6800
7.5000 .0000
1455442 .0000
398,339.11 .2500
9.3750 .0000
.0200
7.5000 1.6050
7.5000 .0000
1455443 .0000
338,728.04 .2500
9.8750 .0000
.0200
7.5000 2.1050
7.5000 .0000
1455444 .2500
297,267.60 .0500
8.3750 .0000
.0200
7.5000 .5550
7.5000 .0000
1455445 .2500
247,893.03 .0500
8.3750 .0000
.0200
7.5000 .5550
7.5000 .0000
1
1455446 .2500
282,219.62 .0500
8.6250 .0000
.0200
7.5000 .8050
7.5000 .0000
1455447 .2500
247,128.38 .0500
8.3750 .0000
.0200
7.5000 .5550
7.5000 .0000
1455448 .2500
216,140.33 .0500
9.1250 .0000
.0200
7.5000 1.3050
7.5000 .0000
1455449 .2500
347,050.31 .0500
8.3750 .0000
.0200
7.5000 .5550
7.5000 .0000
1455450 .2500
242,938.05 .0500
8.3750 .0000
.0200
7.5000 .5550
7.5000 .0000
1455451 .2500
218,641.75 .0500
8.3750 .0000
.0200
7.5000 .5550
7.5000 .0000
1455452 .2500
272,037.92 .0500
8.3750 .0000
.0200
7.5000 .5550
7.5000 .0000
1455454 .0000
233,028.43 .2500
9.3750 .0000
.0200
7.5000 1.6050
7.5000 .0000
1
1455455 .2500
212,978.04 .0500
8.7500 .0000
.0200
7.5000 .9300
7.5000 .0000
1455457 .2500
190,295.72 .0500
10.6250 .0000
.0200
7.5000 2.8050
7.5000 .0000
1455458 .2500
339,836.01 .0500
9.3750 .0000
.0200
7.5000 1.5550
7.5000 .0000
1455459 .2500
257,361.15 .0500
9.3750 .0000
.0200
7.5000 1.5550
7.5000 .0000
1455460 .2500
233,805.35 .0500
9.2500 .0000
.0200
7.5000 1.4300
7.5000 .0000
1455461 .2500
225,394.14 .0500
8.8750 .0000
.0200
7.5000 1.0550
7.5000 .0000
1455462 .2500
241,145.04 .0500
9.2500 .0000
.0200
7.5000 1.4300
7.5000 .0000
1455463 .2500
234,506.47 .0500
8.8750 .0000
.0200
7.5000 1.0550
7.5000 .0000
1
1455465 .2500
201,485.86 .0500
9.2500 .0000
.0200
7.5000 1.4300
7.5000 .0000
1455466 .2500
104,242.20 .0500
9.6250 .0000
.0200
7.5000 1.8050
7.5000 .0000
1455468 .0000
323,615.12 .2500
9.2500 .0000
.0200
7.5000 1.4800
7.5000 .0000
1455469 .2500
134,053.83 .0500
8.8750 .0000
.0200
7.5000 1.0550
7.5000 .0000
1455470 .0000
249,819.05 .2500
7.6250 .0000
.0200
7.3550 .0000
7.3550 .0000
1455471 .0000
322,619.43 .2500
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1457144 .0000
249,836.46 .2500
8.1250 .0000
.0200
7.5000 .3550
7.5000 .0000
1457145 .0000
314,766.22 .2500
7.5000 .0000
.0200
7.2300 .0000
7.2300 .0000
1457146 .0000
393,842.21 .2500
8.1250 .0000
.0200
7.5000 .3550
7.5000 .0000
1457147 .0000
326,248.13 .2500
8.2500 .0000
.0200
7.5000 .4800
7.5000 .0000
1457148 .0000
296,398.16 .2500
8.0000 .0000
.0200
7.5000 .2300
7.5000 .0000
1457149 .0000
253,345.53 .2500
7.8750 .0000
.0200
7.5000 .1050
7.5000 .0000
1457150 .0000
399,738.34 .2500
8.1250 .0000
.0200
7.5000 .3550
7.5000 .0000
1457151 .0000
311,790.65 .2500
8.0000 .0000
.0200
7.5000 .2300
7.5000 .0000
1
1457152 .0000
296,695.68 .2500
7.8750 .0000
.0200
7.5000 .1050
7.5000 .0000
1457153 .0000
269,804.59 .2500
7.6250 .0000
.0200
7.3550 .0000
7.3550 .0000
1457154 .0000
391,736.97 .2500
8.0000 .0000
.0200
7.5000 .2300
7.5000 .0000
1457155 .0000
320,050.94 .2500
8.3750 .0000
.0200
7.5000 .6050
7.5000 .0000
1457156 .0000
224,845.15 .2500
7.8750 .0000
.0200
7.5000 .1050
7.5000 .0000
1457157 .0000
459,728.42 .2500
8.6250 .0000
.0200
7.5000 .8550
7.5000 .0000
1457158 .0000
562,102.99 .2500
7.7500 .0000
.0200
7.4800 .0000
7.4800 .0000
1457159 .0000
599,627.06 .2500
8.3750 .0000
.0200
7.5000 .6050
7.5000 .0000
1
1457160 .0000
217,860.99 .2500
8.2500 .0000
.0200
7.5000 .4800
7.5000 .0000
1457161 .0000
491,686.27 .2500
8.2500 .0000
.0200
7.5000 .4800
7.5000 .0000
1457162 .0000
271,808.03 .2500
7.7500 .0000
.0200
7.4800 .0000
7.4800 .0000
1457163 .0000
272,821.42 .2500
8.1250 .0000
.0200
7.5000 .3550
7.5000 .0000
1457164 .0000
352,194.91 .2500
7.6250 .0000
.0200
7.3550 .0000
7.3550 .0000
1457165 .0000
220,601.88 .2500
8.0000 .0000
.0200
7.5000 .2300
7.5000 .0000
1457166 .0000
314,793.94 .2500
8.1250 .0000
.0200
7.5000 .3550
7.5000 .0000
1457167 .0000
449,760.53 .2500
9.1250 .0000
.0200
7.5000 1.3550
7.5000 .0000
1
1457168 .0000
251,035.67 .2500
8.1250 .0000
.0200
7.5000 .3550
7.5000 .0000
1457169 .0000
299,808.70 .2500
8.2500 .0000
.0200
7.5000 .4800
7.5000 .0000
1457171 .0000
257,531.42 .2500
8.1250 .0000
.0200
7.5000 .3550
7.5000 .0000
1457172 .0000
215,568.55 .2500
8.0000 .0000
.0200
7.5000 .2300
7.5000 .0000
1457173 .0000
175,590.52 .2500
8.7500 .0000
.0200
7.5000 .9800
7.5000 .0000
1457174 .0000
299,616.08 .2500
8.2500 .0000
.0200
7.5000 .4800
7.5000 .0000
1457175 .0000
265,613.74 .2500
7.6250 .0000
.0200
7.3550 .0000
7.3550 .0000
1457176 .0000
239,676.85 .2500
8.0000 .0000
.0200
7.5000 .2300
7.5000 .0000
1
1457177 .0000
249,149.30 .2500
8.2500 .0000
.0200
7.5000 .4800
7.5000 .0000
1457178 .0000
131,917.95 .2500
8.3750 .0000
.0200
7.5000 .6050
7.5000 .0000
1457179 .0000
283,415.55 .2500
7.3750 .0000
.0200
7.1050 .0000
7.1050 .0000
1457180 .0000
166,388.28 .2500
8.0000 .0000
.0200
7.5000 .2300
7.5000 .0000
1457181 .0000
355,729.12 .2500
7.3750 .0000
.0200
7.1050 .0000
7.1050 .0000
1457182 .0000
236,076.47 .2500
8.8750 .0000
.0200
7.5000 1.1050
7.5000 .0000
1457183 .0000
106,335.55 .2500
8.5000 .0000
.0200
7.5000 .7300
7.5000 .0000
1457184 .0000
291,804.08 .2500
8.0000 .0000
.0200
7.5000 .2300
7.5000 .0000
1
1457185 .0000
255,181.29 .2500
8.3750 .0000
.0200
7.5000 .6050
7.5000 .0000
1457186 .0000
84,443.48 .2500
9.0000 .0000
.0200
7.5000 1.2300
7.5000 .0000
1457187 .0000
62,128.16 .2500
8.7500 .0000
.0200
7.5000 .9800
7.5000 .0000
1457188 .0000
87,652.10 .2500
9.0000 .0000
.0200
7.5000 1.2300
7.5000 .0000
1457189 .0000
135,917.61 .2500
8.5000 .0000
.0200
7.5000 .7300
7.5000 .0000
1457190 .0000
311,235.88 .2500
8.5000 .0000
.0200
7.5000 .7300
7.5000 .0000
1457191 .0000
324,307.41 .2500
7.7500 .0000
.0200
7.4800 .0000
7.4800 .0000
1457192 .0000
289,193.82 .2500
7.8750 .0000
.0200
7.5000 .1050
7.5000 .0000
1
1457193 .0000
455,701.71 .2500
8.1250 .0000
.0200
7.5000 .3550
7.5000 .0000
1457194 .0000
249,078.46 .2500
7.8750 .0000
.0200
7.5000 .1050
7.5000 .0000
1457195 .0000
419,618.25 .2500
8.0000 .0000
.0200
7.5000 .2300
7.5000 .0000
1457196 .0000
229,460.90 .2500
8.5000 .0000
.0200
7.5000 .7300
7.5000 .0000
1457197 .0000
361,325.08 .2500
8.1250 .0000
.0200
7.5000 .3550
7.5000 .0000
1457198 .0000
355,418.88 .2500
8.1250 .0000
.0200
7.5000 .3550
7.5000 .0000
1457199 .0000
399,286.41 .2500
8.6250 .0000
.0200
7.5000 .8550
7.5000 .0000
1457200 .0000
348,717.20 .2500
7.6250 .0000
.0200
7.3550 .0000
7.3550 .0000
1
1457201 .0000
359,584.25 .2500
8.7500 .0000
.0200
7.5000 .9800
7.5000 .0000
1457202 .0000
70,176.56 .2500
8.7500 .0000
.0200
7.5000 .9800
7.5000 .0000
1457203 .0000
227,934.81 .2500
7.8750 .0000
.0200
7.5000 .1050
7.5000 .0000
1457204 .0000
75,905.21 .2500
8.3750 .0000
.0200
7.5000 .6050
7.5000 .0000
1457205 .0000
260,674.41 .2500
8.3750 .0000
.0200
7.5000 .6050
7.5000 .0000
1457206 .0000
239,689.07 .2500
8.0000 .0000
.0200
7.5000 .2300
7.5000 .0000
1457207 .0000
301,757.39 .2500
8.0000 .0000
.0200
7.5000 .2300
7.5000 .0000
1457208 .0000
251,693.60 .2500
8.5000 .0000
.0200
7.5000 .7300
7.5000 .0000
1
1457210 .0000
244,272.36 .2500
8.6250 .0000
.0200
7.5000 .8550
7.5000 .0000
1457211 .0000
318,886.25 .2500
7.6250 .0000
.0200
7.3550 .0000
7.3550 .0000
1457214 .0000
351,560.91 .2500
8.3750 .0000
.0200
7.5000 .6050
7.5000 .0000
1457215 .0000
349,013.41 .2500
7.8750 .0000
.0200
7.5000 .1050
7.5000 .0000
1457216 .0000
421,880.81 .2500
8.2500 .0000
.0200
7.5000 .4800
7.5000 .0000
1457217 .0000
259,654.35 .2500
8.8750 .0000
.0200
7.5000 1.1050
7.5000 .0000
1457218 .0000
217,926.99 .2500
7.7500 .0000
.0200
7.4800 .0000
7.4800 .0000
1457219 .0000
299,276.77 .2500
7.8750 .0000
.0200
7.5000 .1050
7.5000 .0000
1
1457280 .0000
213,860.01 .2500
8.1250 .0000
.0200
7.5000 .3550
7.5000 .0000
1457281 .0000
269,268.08 .2500
8.0000 .0000
.0200
7.5000 .2300
7.5000 .0000
1457282 .0000
277,226.85 .2500
7.8750 .0000
.0200
7.5000 .1050
7.5000 .0000
1457283 .0000
243,236.68 .2500
8.0000 .0000
.0200
7.5000 .2300
7.5000 .0000
1457284 .0000
273,929.55 .2500
8.2500 .0000
.0200
7.5000 .4800
7.5000 .0000
1457396 .0000
381,799.88 .2500
8.5000 .0000
.0200
7.5000 .7300
7.5000 .0000
1457397 .0000
299,450.88 .2500
8.5000 .0000
.0200
7.5000 .7300
7.5000 .0000
1457398 .0000
549,658.14 .2500
8.3750 .0000
.0200
7.5000 .6050
7.5000 .0000
1
1457400 .0000
409,210.24 .2500
8.2500 .0000
.0200
7.5000 .4800
7.5000 .0000
1457401 .0000
215,785.41 .2500
7.3750 .0000
.0200
7.1050 .0000
7.1050 .0000
1457402 .0000
233,083.65 .2500
7.7500 .0000
.0200
7.4800 .0000
7.4800 .0000
1457403 .0000
49,181.51 .2500
8.6250 .0000
.0200
7.5000 .8550
7.5000 .0000
1457404 .0000
265,668.16 .2500
8.3750 .0000
.0200
7.5000 .6050
7.5000 .0000
1457406 .0000
217,830.63 .2500
7.8750 .0000
.0200
7.5000 .1050
7.5000 .0000
1457407 .0000
254,833.19 .2500
8.1250 .0000
.0200
7.5000 .3550
7.5000 .0000
1457408 .0000
263,323.20 .2500
8.0000 .0000
.0200
7.5000 .2300
7.5000 .0000
1
1457409 .0000
88,142.31 .2500
8.1250 .0000
.0200
7.5000 .3550
7.5000 .0000
TOTAL NUMBER OF LOANS: 1127
TOTAL BALANCE........: 326,331,688.47
RUN ON : 12/11/95 RFC DISCLOSURE SYSTEM
RFFSDFIX-01
AT : 10.18.45 INITIAL SECURITY FEES
AMORTIZED BALANCE
SERIES : RFMSI I 1995 R-20 FIXED SUMMARY REPORT
CUTOFF : 12/01/95
POOL : 0010044
:
:
POOL STATUS: F
WEIGHTED AVERAGES FROM
TO
- -----------------------------------------------------------------
- --------------
CURR NOTE RATE 8.1227 7.2500
12.0000
NET MTG RATE(INVSTR RATE) 7.4249 6.9800
7.5000
POST STRIP RATE 7.4249 6.9800
7.5000
SUB SERV FEE .0060 .0000
.2500
MSTR SERV FEE .2452 .0500
.2500
ALL EXP .0000 .0000
.0000
MISC EXP .0200 .0200
.0200
SPREAD .4266 .0000
4.1800
STRIP .0000 .0000
.0000
TOTAL NUMBER OF LOANS: 1127
TOTAL BALANCE........: 326,331,688.47
***************************
* END OF REPORT *
***************************
EXHIBIT G
FORM OF DESIGNATED SELLER'S AGREEMENT
Designated Seller's Agreement ("Agreement"),
dated December 13, 1995, between Residential Funding
Mortgage Securities I, Inc., a Delaware corporation (the
"Depositor"), and Norwest Mortgage, Inc. (the "Seller").
PRELIMINARY STATEMENT
The Seller intends to sell certain Mortgage
Loans (as defined below) to the Depositor as provided
herein. The Depositor intends to deposit such Mortgage
Loans into a trust fund (the "Trust Fund") evidenced by
mortgage pass-through certificates (the "Certificates").
The Certificates will be issued pursuant to a Pooling and
Servicing Agreement (the "Pooling and Servicing
Agreement") among the Depositor, The First National Bank
of Chicago, as trustee (the "Trustee") and the Seller, as
master servicer (in such capacity, the "Master
Servicer"), dated as of December 1, 1995 (the "Cut-off
Date"). The Certificates are described more fully in the
Prospectus Supplement dated December 11, 1995 (the
"Prospectus Supplement") to the Prospectus dated April
20, 1995, which forms part of a Registration Statement on
Form S-3 filed by the Depositor with the Securities and
Exchange Commission.
Capitalized terms not defined herein shall have
the meanings set forth in the Pooling and Servicing
Agreement.
In consideration of the mutual agreements
herein contained, the Depositor and the Seller hereby
agree as follows:
SECTION I.. Agreement to Purchase. The Seller
agrees to sell, and the Depositor agrees to purchase, the
mortgage loans (the "Mortgage Loans") identified on the
schedule (the "Mortgage Loan Schedule") annexed hereto as
Exhibit 1, as such schedule may be amended to reflect the
actual Mortgage Loans accepted by the Depositor pursuant
to the terms hereof. The Mortgage Loans will be
conventional residential first mortgage loans. The
Mortgage Loans will have an aggregate principal balance
as of the close of business on the Cut-off Date, after
giving effect to any payments due on or before such date
whether or not received, of approximately
$______________, or such other amount acceptable to the
Depositor. The sale of the Mortgage Loans shall take
place on December 13, 1995 or such other date as shall be
mutually acceptable to the parties hereto (the "Closing
Date"), subject to and simultaneously with the deposit of
the Mortgage Loans into the Trust Fund, the issuance of
the Certificates and the sale of the Certificates by the
Depositor pursuant to the Underwriting Agreement (the
"Underwriting Agreement") to be entered into among the
Depositor, the Master Servicer, Residential Funding
Corporation ("Residential Funding") and Donaldson, Lufkin
& Jenrette Securities Corporation (the "Underwriter") a
form of which is attached hereto as Exhibit 6. The
purchase price for the Mortgage Loans shall be equal to
___% of the aggregate principal balance of the Mortgage
Loans as of the Cut-off Date (after giving effect to
payments due on such date whether or not received) (the
"Cut-off Date Principal Balance") plus accrued and unpaid
interest thereon from the Cut-off Date to but not
including the Closing Date. Such purchase price shall be
paid to the Seller by wire transfer in immediately
available funds on the Closing Date by the Underwriter
pursuant to the Underwriting Agreement. In connection
with the purchase of the Mortgage Loans, the Depositor
agrees to deliver and the Seller agrees to accept the
Mortgage Pass-Through Certificates, Series 1995-R20, the
Class B-3 Certificates, and the Spread (as defined in the
Pooling and Servicing Agreement). The Seller has
requested that the Depositor provide no materials with
respect to an original issue discount and the Spread.
Pursuant to the terms of the Pooling and
Servicing Agreement, the Depositor shall assign to the
Trustee all of its right, title and interest in and to
the Mortgage Loans and other rights and obligations under
this Agreement (except with respect to its rights to
either indemnification or notice) and the Trustee shall
succeed to such right, title and interest and rights and
obligations hereunder of the Depositor.
SECTION II.. Conveyance of Mortgage Loans.
The Seller hereby agrees to transfer, assign, set over
and otherwise convey to the Depositor, without recourse
but subject to the terms of this Agreement, as of the
Cut-off Date all the right, title and interest of the
Seller in and to the Mortgage Loans identified on the
Mortgage Loan Schedule as of the Closing Date. The
Mortgage Loan Schedule shall conform to the requirements
of the Depositor as set forth in this Agreement and the
Pooling and Servicing Agreement. The Mortgage Loan
Schedule, as amended on the Closing Date with the consent
of the Depositor, shall be used as part of the Mortgage
Loan Schedule under the Pooling and Servicing Agreement.
In connection with such transfer and assignment, the
Seller shall deliver to the Custodian, on the dates
specified in the Time and Responsibility Schedule and
Calendar, as modified from time to time by the parties
hereto (the "Calendar"), attached hereto as Exhibit 2 the
documents or instruments specified below with respect to
each Mortgage Loan (each a "Mortgage File"). Each
Mortgage File shall be delivered by the Seller to Norwest
Bank Minnesota, National Association (the "Custodian"),
and shall be held by the Custodian pursuant to a
Custodial Agreement (the "Custodial Agreement") among the
Trustee, the Depositor, the Master Servicer and the
Custodian, substantially in the form attached as an
exhibit to the Pooling and Servicing Agreement.
All Mortgage Files so delivered will be held by
the Custodian, or its designee, in escrow at all times
prior to the Closing Date. Each Mortgage File shall
contain the following documents:
A. the original mortgage note, endorsed by
the Seller in the following form: "Pay to the
order of The First National Bank of Chicago as
trustee without recourse", with all intervening
endorsements showing a complete chain of title from
the originator to the Seller;
B. the original mortgage with evidence of
recording indicated thereon or a copy of the
mortgage certified by the applicable public
recording office to be a true and complete copy of
the recorded original thereof;
C. an original assignment of mortgage with
evidence of recording indicated thereon or a copy
thereof certified by the public recording office in
which such assignment has been recorded, executed
by the Seller in the following form: "The First
National Bank of Chicago, as trustee";
D. the original recorded assignment or
assignments of mortgage with respect to the
transfer of the mortgage from the originator
thereof to the Seller, showing a complete chain of
title from such originator to the Seller, each with
evidence of recording thereon or a copy of such
assignment certified by the public recording office
to be a true and complete copy of the original
assignment submitted for recording;
E. the original primary mortgage insurance
policy and riders if appropriate, if any, or a copy
of such primary mortgage insurance policy certified
by the Seller to be a true and complete copy
thereof;
F. the original or copies of each
assumption, modification, written assurance,
preferred loan or substitution agreement, if any;
G. the original lender's title insurance
policy and endorsements if any, or a copy of such
title insurance policy certified by the title
company to be a true and complete copy thereof, or
in the event such original or copy title policy is
unavailable, a marked up commitment (binder) to
issue such policy; and
H. the original power of attorney with
evidence of recording thereon granted by the
mortgagor in the event that the related mortgage
note or mortgage was not signed by such mortgagor
or a copy of such power of attorney certified by
the relevant public recording office if such public
recording office retained the original.
In the event that the Seller cannot deliver, or
cause to be delivered, any mortgage or any assignment of
a mortgage, in either case with evidence of recording
thereon, to the Custodian solely because of a delay
caused by the public recording office where such mortgage
or assignment, as the case may be, has been delivered for
recordation, the Seller shall deliver or cause to be
delivered to the Custodian a photocopy of such mortgage
or assignment, as the case may be, certified by the
Seller to be a true and complete copy of the original
thereof submitted for recording. The Seller shall,
promptly upon receipt thereof, deliver to the Custodian,
the original mortgage or assignment, as the case may be,
with evidence of recording indicated thereon, in each
instance where a copy thereof certified by the Seller was
delivered to the Custodian. If a binder has been
delivered by the Seller in lieu of a title insurance
policy, the Seller will promptly deliver to the
Custodian, the related title insurance policy upon
receipt thereof.
The Trustee, as assignee or transferee of the
Depositor shall be entitled to all scheduled principal
payments due after the Cut-off Date, all other payments
of principal due and collected after the Cut-off Date,
and all payments of interest on the Mortgage Loans, minus
that portion of any such payment which is allocable to
the period prior to the Cut-off Date. All scheduled
payments of principal due on or before the Cut-off Date
and collected after the Cut-off Date shall belong to the
Seller.
On or immediately following the Closing Date
the Depositor shall record, at the expense of the Seller,
in the appropriate public office for real property
records, each assignment referred to in subsections (c)
and (d) above. In the event that any such assignment is
lost or returned unrecorded because of a defect therein,
the Seller shall prepare a substitute assignment or cure
such defect, as the case may be, and the Seller shall, at
its own expense, record and deliver such assignment in
accordance with this Section 2. The Seller shall
promptly deliver or cause to be delivered to the
Custodian on behalf of the Trustee such Mortgage or
assignment (or copy thereof certified by the public
recording office) with evidence of recording indicated
thereon upon receipt thereof from the public recording
office.
Upon sale of the Mortgage Loans, the ownership
of each mortgage note, the mortgage and the contents of
the related Mortgage File is vested in the Depositor and
the ownership of all records and documents with respect
to the related Mortgage Loan prepared by or which come
into the possession of the Seller as Seller of the
Mortgage Loans hereunder or in its capacity as Master
Servicer under the Pooling and Servicing Agreement shall
immediately vest in the Depositor and shall be retained
and maintained in trust by the Seller or the Master
Servicer at the will of the Depositor in such custodial
capacity only. In the event that any original document
held by the Seller as Seller of the Mortgage Loans
hereunder in its capacity as Master Servicer is required
pursuant to the terms of this Section to be part of a
Mortgage File, such document shall be delivered promptly
to the Custodian. The Seller's records will accurately
reflect the sale of each Mortgage Loan to the Depositor.
SECTION III.. Examination of Mortgage Files
and Due Diligence Review. [On or before the dates
specified in the Calendar, or such other] dates agreed to
by the Seller and the Depositor, the Seller shall (a)
deliver to the Depositor magnetic tapes acceptable to the
Depositor which contain such information about the
Mortgage Loans as may be reasonably requested by the
Depositor, and (b) either, as specified by the Depositor,
deliver to the Depositor, or its designee, in escrow, or
make available for examination during normal business
hours, all credit files, underwriting documentation and
Mortgage Files relating to the Mortgage Loans. If the
Depositor identifies any Mortgage Loans which in its sole
discretion do not conform to its requirements, including,
but not limited to, requirements relating to loan
quality, loan documentation and compliance with
underwriting standards, or the representations and
warranties in Section 4(b) hereof such Mortgage Loans
shall be deleted from the Mortgage Loan Schedule. The
Depositor may, at its sole option and without notice to
the Seller, accept all or part of the Mortgage Loans
without conducting any partial or complete examination.
The fact that the Depositor has conducted or has failed
to conduct any partial or complete examination of the
credit files, underwriting documentation or Mortgage
Files relating to the Mortgage Loans shall not affect the
Depositor's, the Trustee's or any holder of the
Certificates' right to demand repurchase of the Mortgage
Loans or other relief as provided under this Agreement or
to be provided under the Pooling and Servicing Agreement.
On or prior to the Closing Date, in addition to
the foregoing examination of the Mortgage Files and
related documents, the Seller agrees to allow the
Depositor, or its designee, or any representative of any
Rating Agency (as defined herein) to examine and audit
all books, records and files pertaining to the Mortgage
Loans, the Seller's underwriting procedures and the
Seller's ability to perform or observe all of the terms,
covenants and conditions of this Agreement and the
Pooling and Servicing Agreement. Such examinations and
audits shall take place at one or more offices of the
Seller during normal business hours and shall not be
conducted in a manner that is disruptive to the Seller's
normal business operations, and in the course of such
examinations and audits, the Seller will make available
to the Depositor, or its designee, reasonably adequate
facilities, as well as the assistance of a sufficient
number of knowledgeable and responsible individuals who
are familiar with the Mortgage Loans and the terms of
this Agreement and the Seller shall cooperate fully with
any such review in all respects. On or prior to the
Closing Date, the Seller agrees to provide the Depositor,
its affiliates or its designee with all material
information regarding the Seller's financial condition as
is customarily provided to lenders, and to provide access
to knowledgeable financial or accounting officers for the
purpose of answering questions with respect to the
Seller's financial condition, financial statements as
provided to the Depositor or other developments affecting
the Seller.
The Depositor and the Seller shall agree on the
information relating to the Seller to be included in the
Prospectus Supplement, including but not limited to
financial information and information regarding the
status of the Seller with respect to any regulatory body
or entity, and the presentation of such information in
the Prospectus Supplement. In connection therewith each
party shall promptly inform the other party of any
information it reasonably wishes to include or exclude
from the Prospectus Supplement, and upon being so
informed, the parties shall use their best efforts to
mutually agree, as promptly as possible, on the
presentation and content of information to be included in
the Prospectus Supplement. In connection with the
foregoing, if on the earlier to occur of the (i) tenth
day after a party notifies the other party of information
it reasonably wishes to include or exclude from the
Prospectus Supplement, and (ii) the second Business Day
before the date as of which the Prospectus Supplement is
to be printed, the parties have not agreed on the
information to be included in the Prospectus Supplement
or its presentation, the Depositor shall have no further
obligation to consummate the transaction contemplated
hereby and shall be entitled to retain any fee previously
paid to it. The Depositor shall keep confidential any
information regarding the Seller which has been delivered
into the Depositor's possession and which is not
otherwise publicly available; provided, however, that
such information shall not be kept confidential (and the
right to require confidentiality under any
confidentiality agreement shall be waived) to the extent
the parties agree to include such information in the
Prospectus Supplement.
SECTION IV.. Representations, Warranties and
Covenants of the Seller. A. The Seller hereby
represents, warrants and covenants to the Depositor that
as of the date hereof and as of the Closing Date (or such
other date specifically provided herein):
1. The Seller is a corporation duly
organized and validly existing and in good standing
under the laws of the State of [California] with
full power and authority to own its properties and
to carry on its business as presently conducted by
it and has duly qualified to do business as a
foreign corporation and is in good standing under
the laws of each jurisdiction which requires such
qualification. The Seller is eligible to sell
mortgage loans to FNMA and FHLMC. Each originator
of a Mortgage Loan had the full power and authority
and legal right to originate such Mortgage Loan.
The Seller has the full power and authority and
legal right to own the Mortgage Loans and to
transfer and convey the Mortgage Loans to the
Depositor and has the full power and authority and
legal right to execute and deliver, engage in the
transactions contemplated by, and perform and
observe the terms and conditions of, this Agree-
ment, the Pooling and Servicing Agreement and the
Underwriting Agreement.
2. This Agreement has been and the Pooling
and Servicing Agreement and the Underwriting
Agreement, will be, duly and validly authorized,
executed and delivered by the Seller, all requisite
corporate action has been or will have been taken,
and (assuming the due authorization, execution and
delivery hereof by the other parties thereto) each
constitutes or will constitute the valid, legal and
binding agreements of the Seller, enforceable in
accordance with their terms, except as such
enforcement may be limited by (i) laws relating to
bankruptcy, insolvency, reorganization,
receivership or moratorium, (ii) other laws
relating to or affecting the rights of creditors
generally and by general equitable principles
(regardless of whether such enforcement is
considered in a proceeding in equity or at law) or
(iii) public policy considerations underlying the
securities laws, to the extent that such public
policy considerations limit the enforceability of
provisions which purport to provide indemnification
from liabilities under applicable securities laws.
3. No consent, approval, authorization or
order of, registration or filing with, or notice
to, any governmental authority or court, is
required, under federal or state laws, for the
execution, delivery and performance of or compli-
ance by the Seller with this Agreement, or the
consummation by the Seller of any other transaction
contemplated hereby. Prior to the Closing Date,
this Agreement and all related agreements (a) have
been authorized by the Board of Directors of the
Seller pursuant to a Resolution.
4. Neither the transfer of the Mortgage Loans
to the Depositor, nor the execution, delivery or
performance of this Agreement or the Underwriting
Agreement, by the Seller, conflicts or will con-
flict with or results or will result in a breach of
or constitutes or will constitute a default under
(a) any term or provision of the documents
governing the Seller's organization, or (b) any
term or provision of any material agreement,
contract, instrument or indenture, to which the
Seller or any of its affiliates is a party or is
bound, or (c) any law, rule, regulation, order,
judgment, writ, injunction or decree of any court
or governmental authority having jurisdiction over
the Seller or its subsidiaries, or results or will
result in the creation or imposition of any lien,
charge or encumbrance which would have a material
adverse effect upon the Mortgage Loans or any docu-
ments or instruments evidencing or securing the
Mortgage Loans.
5. Any financial statements delivered by the
Seller to the Depositor fairly present the
pertinent results of operations and changes in
financial position for each of such periods and the
financial position at the end of each such period
of the Seller and its subsidiaries and have been
prepared in accordance with generally accepted
accounting principles consistently applied through-
out the periods involved, except as set forth in
the notes thereto.
6. There has been no change in the business,
operations, financial condition, properties or
assets of the Seller since the date of the Seller's
most recent financial statements delivered to the
Depositor as specified in subsection (v) above,
that would have a material and adverse effect on
the ability of the Seller to perform its
obligations under this Agreement, the Underwriting
Agreement or the Pooling and Servicing Agreement.
7. There are no actions or proceedings
against, or investigations of, the Seller pending
or, to the Seller's knowledge, threatened against
the Seller before any court, administrative agency
or other tribunal, which would reasonably be
expected to adversely affect the transfer of the
Mortgage Loans, the issuance of the Certificates,
the execution, delivery or enforceability of this
Agreement or have an effect on the financial
condition of the Seller such as to materially and
adversely affect the ability of the Seller to
perform its obligations under this Agreement, the
Underwriting Agreement or the Pooling and Servicing
Agreement.
8. The Seller covenants to (a) satisfy the
schedule for the performance of its duties and
obligations under this Agreement as set forth on
the [Calendar], as it may be amended by mutual
agreement of both parties hereto, (b) provide in a
timely manner all of the agreed upon information
regarding itself and the Mortgage Loans as the
Depositor may reasonably request in connection with
the preparation of the Prospectus Supplement, (c)
fully cooperate with, and supply all relevant
information requested by a nationally recognized
rating agency specified by the Depositor (the
"Rating Agency") and (d) dedicate adequate
personnel and resources as may be required to
comply with all of the terms and conditions of this
Agreement.
9. As of the date of the Prospectus
Supplement and as of the Closing Date, the
information contained in the Prospectus Supplement
with respect to the Seller's Information (as
defined in Section 8(a)) is true and correct in all
material respects and does not contain any untrue
statement of a material fact or omit to state a
material fact required to be stated therein or
necessary to make the statements therein, in light
of the circumstances under which they were made,
not misleading.
B. The Seller hereby represents and warrants
to the Depositor that, with respect to each Mortgage
Loan, as of the date of this Agreement and as of the
Closing Date:
1. The information set forth on the Mortgage
Loan Schedule with respect to each Mortgage Loan is
true and correct in all material respects as of the
Closing Date;
2. As of the Closing Date, each Mortgage is a
valid and enforceable first lien on an unencumbered
estate in fee simple in the related Mortgaged
Property subject only to (a) liens for current real
property taxes and special assessments; (b)
covenants, conditions and restrictions, rights of
way, easements and other matters of public record
as of the date of recording such Mortgage, such
exceptions appearing of record being acceptable to
mortgage lending institutions generally or
specifically reflected in the appraisal obtained in
connection with the origination of the Mortgage
Loan; (c) exceptions set forth in the title
insurance policy relating to such Mortgage, such
exceptions being acceptable to mortgage lending
institutions generally; and (d) other matters to
which like properties are commonly subject which do
not materially interfere with the benefits of the
security intended to be provided by the Mortgage;
3. As of the closing Date, the Seller had
good title to, and was the sole owner of, each
Mortgage Loan free and clear of any encumbrance or
lien, and immediately upon the transfer and
assignment herein contemplated, the Company shall
have good title to, and will be the sole legal
owner of, each Mortgage Loan, free and clear of any
encumbrance or lien (other than any lien under this
Agreement);
4. As of the day prior to the Cut-Off Date,
all payments due on each Mortgage Loan had been
made and no Mortgage Loan had been delinquent
(i.e., was more than 30 days past due) more than
once in the preceding 12 months and any such
delinquency lasted for no more than 30 days;
5. As of the Closing Date, there is no late
assessment for delinquent taxes outstanding against
any Mortgaged Property;
6. As of the Closing Date, there is no
offset, defense or counterclaim to any Mortgage
Note, including the obligation of the Mortgagor to
pay the unpaid principal or interest on such
Mortgage Note except to the extent that the Buydown
Agreement for a Buydown Loan forgives certain
indebtedness of a Mortgagor;
7. As of the Closing Date, each Mortgaged
Property is free of damage and in good repair,
ordinary wear and tear excepted [to the best of our
knowledge];
8. Each Mortgage Loan at the time it was made
complied with all applicable state and federal
laws, including, without limitation, usury, equal
credit opportunity, disclosure and recording laws;
9. Each Mortgage Loan was originated by a
savings and loan association, savings bank, credit
union, insurance company, or similar institution
which is supervised and examined by a federal or
state authority or by a mortgagee approved by the
FHA, FNMA or FHLMC and will be serviced by the
Master Servicer;
10. As of the Closing Date, each Mortgage
Loan is covered by an ALTA form or CLTA form of
mortgagee title insurance policy or other form of
policy of insurance which, as of the Closing Date,
is acceptable to FNMA or FHLMC, and has been issued
by, and is the valid and binding obligation of, a
title insurer acceptable to FNMA and FHLMC and
qualified to do business in the state in which the
related Mortgaged Property is located. Such policy
insures the originator of the Mortgage Loan, its
successors and assigns as to the first priority
lien of the Mortgage in the original principal
amount of the Mortgage Loan subject to the
exceptions set forth in such policy. Such policy
is in full force and effect and will be in full
force and effect and inure to the benefit of the
Certificateholders upon the consummation of the
transactions contemplated by this Agreement and the
Pooling Agreement and no claims have been made
under such policy, and no prior holder of the
related Mortgage, including the Seller, has done,
by act or omission, anything which would impair the
coverage of such policy;
11. As of the Closing Date, each Mortgage
Loan which had a Loan-to-Value Ratio at the time of
the origination of the Mortgage Loan in excess of
80% was covered by a primary insurance policy or an
FHA insurance policy or a VA guaranty, and such
policy or guaranty is valid and remains in full
force and effect, except for any Mortgage Loan for
which the outstanding Principal Balance thereof at
any time subsequent to origination was 80% or less
of the then current value of the related Mortgaged
Property (as determined by an appraisal obtained
subsequent to origination);
12. As of the Closing Date, all policies of
insurance covering the Seller required by the
Pooling Agreement have been validly issued and
remain in full force and effect;
13. Each Mortgage was documented by
appropriate FNMA/FHLMC mortgage instruments in
effect at the time of origination, or other
instruments approved by the Seller;
14. The Mortgaged Property securing each
Mortgage is improved with a one-to-four-family
dwelling unit, [including units in a duplex],
condominium project, townhouse, a planned unit
development or a de minimis planned unit
development;
15. Each Mortgage and Mortgage Note is the
legal, valid and binding obligation of the maker
thereof and is enforceable in accordance with its
terms, except only as such enforcement may be
limited by laws affecting the enforcement of
creditors' rights generally;
16. As of the date of origination, as to
Mortgaged Properties which are units in
condominiums or planned unit developments, all of
such units met FNMA requirements, are located in a
condominium or planned unit development projects
which have received FNMA approval, or are
approvable by FNMA;
17. No more than [13] of the Mortgage Loans
are Buydown Loans;
18. As of the Cut-Off Date, all but
approximately [2.1]% (by Principal Balance) of the
Mortgage Loans will be secured by owner occupied
Mortgaged Properties which are the primary
residences of the related Mortgagors, based solely
on representations of the Mortgagors obtained at
the origination of the related Mortgage Loans and
approximately [2.1]% (by Principal Balance) of the
Mortgage Loans will be secured by owner-occupied
Mortgaged Properties which were second or vacation
homes of the Mortgagors, based solely on such
representations, and none of the Mortgaged Loans
will be secured by Mortgaged Properties which were
investor properties of the related Mortgagors,
based solely on such representations;
19. Prior to origination or refinancing, an
appraisal of each Mortgaged Property was made by an
appraiser or a form satisfactory to FNMA or FHLMC;
20. The Mortgage Loans have been underwritten
substantially in accordance with the underwriting
standards of the Seller;
21. All of the Mortgage Loans have due-on-
sale clauses; by the terms of the Mortgage Notes,
however, the due on sale provisions may not be
exercised at the time of a transfer if prohibited
by federal or applicable state law;
22. The Seller used no adverse selection
procedures in selecting the Mortgage Loans from
among the outstanding fixed-rate conventional
mortgage loans originated or purchased by it which
were available for inclusion in the Mortgage Pool
and as to which the representations and warranties
in this Exhibit could be made;
23. Each Mortgage Loan is a conventional,
fixed rate, fully-amortizing, level monthly payment
first mortgage loan having terms to maturity of not
more than 30 years from the date of origination or
modification with monthly payments due on the first
day of each month;
24. No Mortgage Loan provides for deferred
interest or negative amortization;
25. No action, error, omission,
misrepresentation, negligence, fraud or similar
occurrence with respect to a Mortgage Loan has
taken place on the part of any Person, including
without limitation the Mortgagor, any appraiser,
any builder or developer, or any other party
involved in the origination of the Mortgage Loan;
and
26. The Mortgage Loans have the same
characteristics and were underwritten in accordance
with the information as set forth in the sections
of the Prospectus Supplement entitled "Description
of the Mortgage Pool General" and "Description of
the Mortgage Pool Underwriting Standards",
respectively.
SECTION V.. Cure, Repurchase, Substitution and
Indemnity Obligations of the Seller. Each of the
representations, warranties and covenants contained in or
required to be made pursuant to Section 4 of this
Agreement shall survive the sale of the Mortgage Loans
and shall continue in full force and effect,
notwithstanding any restrictive or qualified endorsement
on the mortgage notes and notwithstanding subsequent
termination of this Agreement or the Pooling and
Servicing Agreement. With respect to any representation
or warranty contained in paragraph (b) of Section 4 which
is made to the Seller's knowledge, if it is discovered by
either the Seller or the Depositor that the substance of
such representation and warranty was inaccurate as of the
Closing Date and such inaccuracy materially and adversely
affects the value of the related Mortgage Loan or the
interests of the Depositor or the holders of the
Certificates in such Mortgage Loan, then notwithstanding
the Seller's lack of knowledge with respect to the
inaccuracy at the time the representation or warranty was
made, such inaccuracy shall be deemed a breach of the
applicable representation or warranty. The representa-
tions, warranties and covenants contained in or required
to be made pursuant to Section 4 of this Agreement shall
not be impaired by any review or examination of the
Mortgage Files or other documents evidencing or relating
to the Mortgage Loans or any failure on the part of the
Depositor to review or examine such documents and shall
inure to the benefit of any transferee of the Mortgage
Loans from the Depositor including, without limitation,
the Trustee for the benefit of holders of the
Certificates.
Upon discovery of any defective document that
materially and adversely affects the value of the related
Mortgage Loan or the interests of the Depositor, the
Trustee or the holders of the Certificates in such
Mortgage Loan, the Seller shall cure such defect within
60 90 days from the date the Seller was notified of such
defect. The Seller hereby covenants and agrees that if
any such defect cannot be corrected or cured within such
90-day period, the Seller shall, not later than 90 days
after its receipt of notice of such defect, repurchase
the related Mortgage Loan at a price equal to the sum of
(i) 100% of the Stated Principal Balance (as defined in
the Pooling and Servicing Agreement) thereof, (ii) unpaid
accrued interest thereon from the Due Date as to which
interest was last paid by the Mortgagor to the first day
of the month following the month of repurchase at a rate
equal to the related mortgage rate, (iii) all amounts
advanced by the Master Servicer on such Mortgage Loan and
not reimbursed, and (iv) all expenses reasonably incurred
or to be incurred by the Depositor, the Master Servicer
or the Trustee in respect of the breach or defect giving
rise to the repurchase obligation, including any expenses
arising out of the enforcement of the repurchase
obligation (the "Repurchase Price"). Alternatively, the
Seller hereby agrees, if so requested by the Depositor
and to the extent the Seller has available one or more
substitute mortgage loans having the characteristics
required by this Section 5 (a "Qualified Substitute
Mortgage Loan"), to substitute for any such Mortgage Loan
a new mortgage loan or loans such that the
representations and warranties referred to in paragraph
(b) of Section 4 would not have been incorrect as of the
Closing Date and the date of substitution (except for
representations and warranties as to the correctness of
the Mortgage Loan Schedule) had such substitute mortgage
loan originally been a Mortgage Loan. Any such
substitution shall, however, be limited to substitutions
of "qualified replacement mortgages" within the meaning
of Section 860G(a)(4) of the Internal Revenue Code of
1986, as amended, within the time limits described
therein. The Seller further agrees that a substituted
mortgage loan will have (i) an outstanding principal
balance (after deduction of the principal portion of the
monthly payment due in the month of substitution) no
greater than the outstanding principal balance of the
Mortgage Loan for which it is substituted (after
deduction of the principal portion of the monthly payment
due in the month of substitution); (ii) a remaining term
to stated maturity no greater than (and not more than one
year less than) that of the Mortgage Loan for which it is
substituted; (iii) a mortgage interest rate not less than
(and no more than one percent per annum greater than)
that of the Mortgage Loan for which it is substituted;
and (iv) a loan-to-value ratio no greater than that of
the Mortgage Loan for which it is substituted. The
Seller shall remit to the Trustee, in cash, the
difference between the outstanding principal balance of
the Mortgage Loan to be substituted for and the
outstanding principal balance of the Qualified Substitute
Mortgage Loan, together with interest on such excess at
the mortgage interest rate to the next scheduled due date
of the Mortgage Loan that it was substituted for. The
Seller shall provide an officers' certificate to the
Trustee as to the calculation of such shortfall and an
opinion of counsel to the effect that such substitution
will not cause (a) any federal tax to be imposed on the
Trust Fund, including without limitation, any federal tax
imposed on "prohibited transactions" under Section
860F(a)(1) of the Code or on "contributions after the
startup date" under Section 860G(d)(1) of the Code or (b)
any portion of the Trust Fund to fail to qualify as a
REMIC at any time that any Certificate is outstanding.
Within 90 days of the earlier of discovery by
the Seller or receipt of notice by the Seller of a breach
of any of the representations, warranties or covenants of
the Seller set forth in or required to be made pursuant
to Section 4 of this Agreement which materially and
adversely affects the interests of Depositor or the
Certificateholders in any Mortgage Loan, the Seller shall
(i) cure such breach in all material respects, or (ii)
repurchase the related Mortgage Loan from the Depositor
at the Repurchase Price, or (iii) replace the related
Mortgage Loan with a Qualified Substitute Mortgage Loan
in accordance with the provisions of this Section 5.
The Seller shall amend the Mortgage Loan
Schedule to reflect the withdrawal of any Mortgage Loan
pursuant to the terms of this Agreement and the Pooling
and Servicing Agreement and the addition, if any, of a
Qualified Substitute Mortgage Loan. The Seller shall
deliver to the Depositor such amended Mortgage Loan
Schedule and such other documents as are required by this
Agreement or the Pooling and Servicing Agreement within
10 days of any such withdrawal or addition. Upon any
substitution, the Qualified Substitute Mortgage Loan or
Loans shall be subject to the terms of this Agreement and
the Pooling and Servicing Agreement in all respects, the
Seller shall be deemed to have made the representations
and warranties with respect to the Qualified Substitute
Mortgage Loan contained in this Agreement as of the date
of substitution. [No substitution will be made in any
calendar month after the 20th day of such month.]
Monthly payments of principal and interest due with
respect to Qualified Substitute Mortgage Loans in the
month of substitution shall not be part of the Trust Fund
and will be retained by the Master Servicer and remitted
by the Master Servicer to the Seller on the next
succeeding distribution date. For the month of
substitution, distributions to holders of the
Certificates will include the monthly payment due on the
substituted Mortgage Loan for such month and thereafter
the Seller shall be entitled to retain all amounts
received in respect of such substituted Mortgage Loan.
It is understood and agreed that solely with
respect to a defective document or a breach of the
foregoing representations and warranties with respect to
the Mortgage Loans, the obligations of the Seller set
forth in this Section 5 to cure or to repurchase a
defective Mortgage Loan or to effect a substitution of a
defective Mortgage Loan and to indemnify the Depositor as
provided in Section 8 hereof constitute the sole remedies
of the Depositor or its assignee; provided that this
limitation shall not in any way limit the Depositor's
rights or remedies upon breach of any other
representation or warranty herein.
The Repurchase Price for any repurchased
Mortgage Loan shall be payable to the Trustee or its
assignee by wire transfer of immediately available funds
to the account designated by the Trustee and specified in
the Pooling and Servicing Agreement, and the Trustee or
its assignee, upon receipt of such funds, shall release
or cause to be released to the Seller the related
Mortgage File and shall execute and deliver such
instruments of transfer or assignment, in each case
without recourse, as shall be necessary to vest in the
Seller title to any Mortgage Loan released pursuant
hereto.
SECTION VI.. Closing. The closing of the sale
of the Mortgage Loans shall be held at the office of
Thacher Proffitt & Wood at 10:00 A.M., New York time, on
the Closing Date.
The closing shall be subject to each of the
following conditions:
A. All of the representations and
warranties of the Seller herein shall be true
and correct as of the Closing Date;
B. All Closing Documents specified in
Section 7 of this Agreement, in such forms as
are agreed upon and acceptable to the
Depositor, shall be duly executed and
delivered by all signatories as required
pursuant to the respective terms thereof;
C. The Seller shall have delivered and
released to the Depositor or its designee, all
documents required to be delivered to the
Depositor pursuant to Section 2 of this
Agreement;
D. The result of the examination and
audit performed by the Depositor pursuant to
Section 3 hereof shall be satisfactory to the
Depositor in its sole determination and the
parties shall have agreed to the information
to be disclosed in the Prospectus Supplement
pursuant to the final paragraph of Section 3
hereof;
E. All other terms and conditions of
this Agreement required to be complied with on
or before the Closing Date shall have been
complied with and the Seller shall have the
ability to comply with all terms and
conditions and perform all duties and
obligations required to be complied with or
performed after the Closing Date;
F. The Closing Date may be postponed or
cancelled in the reasonable sole discretion of
the Depositor in the event of any material
failure by the Seller to meet its obligations
under the Calendar on a timely basis;
G. All of the terms and conditions of
the Underwriting Agreement required to be
complied with on or before the Closing Date
shall have been complied with; and
H. The Seller shall have paid all fees
and expenses payable by it to the Depositor.
Both parties agree to use their best efforts to
perform their respective obligations hereunder in a
manner which will enable the Depositor to purchase the
Mortgage Loans on the Closing Date. In the event any of
the foregoing conditions is not satisfied and the failure
to satisfy such condition is attributable to either the
Seller or the Underwriter, or is not a direct result of
the Depositor's failure to perform its duties hereunder
or pursuant to the Underwriting Agreement, (i) the
Depositor shall have no obligation to consummate this
transaction or continue to participate in this
transaction in any manner and (ii) the Seller shall be
responsible for all net costs and out of pocket expenses
for which the Depositor may be liable pursuant to the
Underwriting Agreement.
SECTION VII.. Closing Documents. The Closing
Documents shall consist of the following:
A. the Mortgage Loan Files;
B. This Agreement duly executed by the
Depositor and the Seller;
C. The Pooling and Servicing Agreement
duly executed by the Depositor, the Master
Servicer and the Trustee, including all
exhibits thereto;
D. The Underwriting Agreement duly
executed by the Depositor, the Seller and the
Underwriter, and all exhibits thereto duly
executed by all applicable signatories;
E. An Officer's Certificate of the
Seller in the form of Exhibit 3 annexed
hereto, dated the Closing Date, and attached
thereto resolutions of the board of directors
of the Seller, in a form substantially similar
to Exhibit 4 annexed hereto, together with
copies of the documents governing the Seller's
organization and certificate of good standing
of the Seller;
F. A true and complete copy, certified
as such by an officer of the Seller, of each
certificate or other evidence of merger or
change of name, signed or stamped by the
applicable regulatory authority, if any of the
Mortgage Loans were acquired by the Seller by
merger or acquired or originated by the Seller
while conducting business under a name other
than its present name;
G. A cross-receipt dated the Closing
Date duly executed by the Seller and the
Underwriter;
H. A written opinion of Deputy, Counsel
for the Seller, substantially in the form of
Exhibit 5 annexed hereto, with any
modifications required by the Rating Agency,
dated the Closing Date and such other written
opinions as may be required by the Rating
Agency;
I. An Officer's Certificate of the
Seller in the form of Exhibit 7 annexed
hereto, dated the Closing Date; and
J. Such other documents, certificates
and opinions as may be required by the
Depositor, Depositor's counsel or the
nationally recognized rating agencies that
have been requested by the Depositor to rate
the Certificates.
SECTION VIII.. Indemnification. A. The Seller
agrees to indemnify and hold harmless the Depositor and
Residential Funding and their respective officers and
directors, and each person, if any, who controls the
Depositor or Residential Funding within the meaning of
either Section 15 of the Securities Act of 1933 (the
"1933 Act") or Section 20 of the Securities Exchange Act
of 1934 (the "1934 Act"), against any and all losses,
claims, damages or liabilities, joint or several, to
which they or any of them may become subject under the
1933 Act, the 1934 Act or other federal or state
statutory law or regulation, at common law or otherwise,
insofar as such losses, claims, damages or liabilities
(or actions in respect thereof) arise out of or are based
in whole or in part upon any untrue statement or alleged
untrue statement of a material fact contained in the
Prospectus Supplement, or any omission or alleged
omission to state in the Prospectus Supplement a material
fact required to be stated therein or necessary to make
the statements therein, in light of the circumstances in
which they were made, not misleading, or any such untrue
statement or omission or alleged untrue statement or
alleged omission made in any amendment of or supplement
to the Prospectus Supplement, in reliance upon any
information furnished to the Depositor by the Seller or
approved by the Seller, or upon a defective document or
a breach or alleged breach of the representations,
warranties, covenants or agreements of the Seller as set
forth in this Agreement (collectively, the "Seller's
Information"), it being acknowledged that the statements
set forth in the Prospectus Supplement under the caption
["Description of the Mortgage Pool," "The Designated
Seller" and "Pooling and Servicing Agreement The Master
Servicer"] and in the subsections entitled "Master
Servicer," and "The Mortgage Pool" under the caption
entitled "Summary"] or elsewhere in the Prospectus
Supplement with respect to the subjects discussed under
such captions to the extent relating to or based (in
whole or in part) on information relating to the Mortgage
Loans or the Seller were the only statements made in
reliance upon information furnished or approved by the
Seller. This indemnity agreement will be in addition to
any liability which the Seller may otherwise have.
B. In case any proceeding (including any
governmental investigation) shall be instituted involving
any person in respect of which indemnity may be sought
pursuant to either Section 8(a) above, such person (the
"indemnified party") shall promptly notify the person
against whom such indemnity may be sought (the
"indemnifying party") in writing and the indemnifying
party, upon request of the indemnified party, shall
retain counsel reasonably satisfactory to the indemnified
party to represent the indemnified party and any others
the indemnifying party may designate in such proceeding
and shall pay the reasonable fees and disbursements of
such counsel related to such proceeding. In any such
proceeding, any indemnified party shall have the right to
retain its own counsel, but the reasonable fees and
expenses of such counsel shall be at the expense of such
indemnified party unless (i) the indemnifying party and
the indemnified party shall have mutually agreed to the
retention of such counsel or (ii) the named parties to
any such proceeding (including any impleaded parties)
include both the indemnifying party and the indemnified
party and representation of both parties by the same
counsel would be inappropriate due to actual or potential
differing interests between them. It is understood that
the indemnifying party shall not, in connection with any
proceeding or related proceedings in the same
jurisdiction, be liable for the reasonable fees and
expenses of more than one separate firm for all such
indemnified parties. The indemnifying party may, at its
option, at any time upon written notice to the
indemnified party, assume the defense of any proceeding
and may designate counsel satisfactory to the indemnified
party in connection therewith provided that the counsel
so designated would have no actual or potential conflict
of interest in connection with such representation.
Unless it shall assume the defense of any proceeding, the
indemnifying party shall not be liable for any settlement
of any proceeding effected without its written consent,
but if settled with such consent or if there be a final
judgment for the plaintiff, the indemnifying party agrees
to indemnify the indemnified party from and against any
loss or liability by reason of such settlement or
judgment. If the indemnifying party assumes the defense
of any proceeding, it shall be entitled to settle such
proceeding with the consent of the indemnified party or,
if such settlement provides for release of the
indemnified party in connection with all matters relating
to the proceeding which have been asserted against the
indemnified party in such proceeding by the other parties
to such settlement, without the consent of the
indemnified party.
C. If the indemnification provided for in
this Section 8 is unavailable to an indemnified party
under Section 8(a) hereof or insufficient in respect of
any losses, claims, damages or liabilities referred to
therein, then the indemnifying party, in lieu of
indemnifying such indemnified party, shall contribute to
the amount paid or payable by such indemnified party as
a result of such losses, claims, damages or liabilities,
in such proportion as is appropriate to reflect the
relative fault of the indemnified and indemnifying
parties in connection with the statements or omissions
which resulted in such losses, claims, damages or
liabilities, as well as any other relevant equitable
considerations. The relative fault of the indemnified
and indemnifying parties shall be determined by reference
to, among other things, whether the untrue or alleged
untrue statement of a material fact or the omission or
alleged omission to state a material fact relates to
information supplied by such parties and the parties'
relative intent, knowledge, access to information and
opportunity to correct or prevent such statement or
omission.
D. The Depositor and the Seller agree that it
would not be just and equitable if contribution pursuant
to Section 8(c) were determined by pro rata allocation or
by any other method of allocation which does not take
account of the considerations referred to in Section 8(c)
above. The amount paid or payable by an indemnified
party as a result of the losses, claims, damages and
liabilities referred to in this Section 8 shall be deemed
to include, subject to the limitations set forth above,
any legal or other expenses reasonably incurred by such
indemnified party in connection with investigating or
defending any such action or claim, except where the
indemnified party is required to bear such expenses
pursuant to this Section 8, which expenses the
indemnifying party shall pay as and when incurred, at the
request of the indemnified party, to the extent that the
indemnifying party will be ultimately obligated to pay
such expenses. In the event that any expenses so paid by
the indemnifying party are subsequently determined to not
be required to be borne by the indemnifying party
hereunder, the party which received such payment shall
promptly refund the amount so paid to the party which
made such payment. No person guilty of fraudulent
misrepresentation (within the meaning of Section 11(f) of
the 1933 Act) shall be entitled to contribution from any
person who was not guilty of such fraudulent
misrepresentation.
E. The indemnity and contribution agreements
contained in this Section 8 shall remain operative and in
full force and effect regardless of (i) any termination
of this Agreement, (ii) any investigation made by the
Depositor or any person controlling the Depositor or by
or on behalf of the Seller and their respective directors
or officers or any person controlling the Seller, and
(iii) acceptance of and payment for any of the
Certificates.
SECTION IX.. Costs. The Seller shall pay
directly all of its own expenses, including out-of-pocket
expenses and its attorney fees. The Seller shall also
pay a fee to the Depositor, by wire transfer of
immediately available funds on the Closing Date, in an
amount equal to $________. In addition, in the event
that this Agreement is terminated, the Seller will pay to
the Depositor an amount equal to its out-of-pocket
expenses, including but not limited to attorney's fees
and costs related to any examination by the Depositor or
its designee of the Mortgage Files of the Seller.
SECTION X.. Notices. All demands, notices and
communications hereunder shall be in writing and shall be
deemed to have been duly given if personally delivered or
mailed by registered mail, postage prepaid, return
receipt requested, to the following addresses: if to the
Depositor, addressed to the Depositor at 8400 Normandale
Lake Boulevard, Minneapolis, Minnesota 55437, Attention:
President, or to such other address as the Depositor may
designate in writing to the Seller; and if to the Seller,
addressed to the Seller at ________________, or to such
other addresses as the Seller may designate in writing to
the Depositor.
SECTION XI.. Severability of Provisions. Any
part, provision, representation, warranty or covenant of
this Agreement which is prohibited or which is held to be
void or unenforceable shall be ineffective to the extent
of such prohibition or unenforceability without
invalidating the remaining provisions hereof. Any part,
provision, representation or warranty of this Agreement
which is prohibited or unenforceable or is held to be
void or unenforceable in any jurisdiction shall, as to
such jurisdiction, be ineffective to the extent of such
prohibition or unenforceability without invalidating the
remaining provisions hereof, and any such prohibition or
unenforceability in any jurisdiction as to any Mortgage
Loan shall not invalidate or render unenforceable such
provision in any other jurisdiction. To the extent per-
mitted by applicable law, the parties hereto waive any
provision of law which prohibits or renders void or
unenforceable any provision hereof.
SECTION XII.. Further Assurances. The Seller
and the Depositor each agree to execute and deliver such
instruments and take such actions as the other may, from
time to time, reasonably request in order to effectuate
the purpose and to carry out the terms of this Agreement.
SECTION XIII.. Survival. The Seller and the
Depositor agree that the representations, warranties and
agreements made herein and in any certificate or other
instrument delivered pursuant hereto shall be deemed to
be relied upon by the other party, notwithstanding any
investigation heretofore or hereafter made by such party
or on such party's behalf, and that the representations,
warranties and agreements made by the Seller and the
Depositor herein or in any such certificate or other
instrument shall survive the delivery of and payment for
the Mortgage Loans.
SECTION XIV.. Miscellaneous. This Agreement
is to be governed by, and construed in accordance with,
the laws of the State of New York, and shall be deemed to
be in effect when a fully executed counterpart hereof is
received by the Depositor in New York. This Agreement
may be executed in two or more counterparts, each of
which when so executed and delivered shall be an
original, but all of which together shall constitute one
and the same instrument. The rights and obligations of
the Seller under this Agreement shall not be assigned by
the Seller without the prior written consent of the
Depositor, except that any person into which the Seller
may be merged or consolidated, or any corporation
resulting from any merger, conversion or consolidation to
which the Seller is a party, or any person succeeding to
the entire business of the Seller, shall be the successor
to the Seller hereunder. The Depositor has the right to
assign its interest under this Agreement, in whole or in
part, as may be required to effect the purposes of the
Pooling and Servicing Agreement, by written notice to the
Seller without the consent of Seller, and the assignee
shall succeed to the rights and obligations hereunder of
the Depositor. Notice is hereby given to the Seller by
the Depositor that the representations and warranties
made by the Seller and contained in paragraph (b) of
Section 4 of this Agreement are or will be assigned by
the Depositor to the Trustee for the benefit of the
Certificateholders, together with such additional
representations and warranties as the Depositor shall
specify. The Seller, without any further action on its
part, hereby consents to such assignment. Subject to the
foregoing, this Agreement shall inure to the benefit of
and be binding upon the parties hereto and their
respective successors and assigns. This Agreement
supersedes all prior agreements and understandings
relating to the subject matter hereof. Neither this
Agreement nor any term hereof may be changed, waived,
discharged or terminated orally, but only by an
instrument in writing signed by the party against whom
enforcement of the change, waiver, discharge or
termination is sought. The headings in this Agreement
are for purposes of reference only and shall not limit or
otherwise affect the meaning hereof.
SECTION XV.. Treatment as Security Agreement.
It is the express intent of the parties hereto
that the conveyance of the Mortgage Loans by the Seller
to the Depositor as provided in Section 2 hereof be, and
be construed as, a sale of the Mortgage Loans by the
Seller to the Depositor and not as a pledge of the
Mortgage Loans by the Seller to the Depositor to secure
a debt or other obligation of the Seller. However, in
the event that, notwithstanding the aforementioned intent
of the parties, the Mortgage Loans are held to be
property of the Seller, or if for any reason this
Agreement is held or deemed to create a security interest
in the Mortgage Loans, then it is intended that (a) this
Agreement shall also be deemed to be a security agreement
within the meaning of Articles 8 and 9 of the applicable
Uniform Commercial Code; (b) the conveyance provided for
in Section 2 of this Agreement shall be deemed to be a
grant by Seller to the Depositor of a security interest
in and to all of the Seller's right, title, and interest,
whether now owned or hereafter acquired, in and to:
(I) All accounts, contract rights,
general intangibles, chattel paper,
instruments, documents, money, deposit
accounts, certificates of deposit, goods,
letters of credit, advices of credit and
uncertificated securities consisting of,
arising from or relating to any of the
property described in (x) and (y) below:
(x) the Mortgage Loans including the Mortgage
Notes, related Mortgages and title, hazard and
primary mortgage insurance policies identified
on the Mortgage Loan Schedule as defined
herein, including all substitute or
replacement Mortgage Loans, and (y) all
distributions with respect thereto payable on
and after the Cut-Off Date;
(II) All accounts, contract rights,
general intangibles, chattel paper,
instruments, documents, money, deposit
accounts, certificates of deposit, goods,
letters of credit, advices of credit,
uncertificated securities, and other rights
arising from or by virtue of the disposition
of, or collections with respect to, or
insurance proceeds payable with respect to, or
claims against other persons with respect to,
all or any part of the collateral described in
(I) above (including any accrued discount
realized on liquidation of any investment
purchased at a discount); and
(III) All cash and non-cash proceeds of
the collateral described in (I) and (II)
above;
(c) the possession by the Depositor or its assignee of
the Mortgage Notes, the Mortgages and such other goods,
letters of credit, advices of credit, instruments, money,
documents, chattel paper or certificated securities shall
be deemed to be possession by the secured party, or
possession by a purchaser or a person designated by him
or her, for purposes of perfecting the security interest
pursuant to the Uniform Commercial Code (including,
without limitation, Sections 9-305, 8-313 or 8-321
thereof) as in force in the relevant jurisdiction; and
(d) notifications to persons holding such property, and
acknowledgments, receipts or confirmations from persons
holding such property, shall be deemed notifications to,
or acknowledgment, receipts or confirmations from,
financial intermediaries, bailees or agents (as
applicable) of the Depositor for the purpose of
perfecting such security interest under applicable law.
Any assignment of the interest of the Depositor pursuant
to Section 1 hereof shall also be deemed to be an
assignment of any security interest created hereby. The
Seller and the Depositor shall, to the extent consistent
with this Agreement, take such actions as may be
necessary to ensure that, if this Agreement were deemed
to create a security interest in the Mortgage Loans, such
security interest would be deemed to be a perfected
security interest of first priority under applicable law
and will be maintained as such throughout the terms of
the Agreement. Without limiting the generality of the
foregoing, the Depositor shall prepare and deliver to the
Seller not less than 15 days prior to any filing date
and, the Depositor shall file or shall cause to be filed
at the expense of the Seller, all filings necessary to
maintain the effectiveness of any original filings
necessary under the Uniform Commercial Code as in effect
in any jurisdiction to perfect the Depositor's security
interest in or lien on the Mortgage Loans, including
without limitation (x) continuation statements, and (y)
such other statements as may be occasioned by (1) any
change of name of the Seller or the Depositor, (2) any
change of location of the place of business or the chief
executive office of the Seller or the Depositor, (3) any
transfer of any interest of the Seller or the Depositor
in any Mortgage Loan. In connection herewith, the
Depositor and its assignee shall have all of the rights
and remedies of a secured party and creditor under the
Uniform Commercial Code as in force in the relevant
jurisdiction.
IN WITNESS WHEREOF, the Seller and the
Depositor have caused their names to be signed by their
respective officers thereunto duly authorized as of the
date first above written.
RESIDENTIAL FUNDING
MORTGAGE SECURITIES I,
INC.
By:
Name:
Title:
NORWEST MORTGAGE, INC.
By:
Name:
Title:
EXHIBIT
1
MORTGAGE LOAN SCHEDULE
EXHIBIT
2
[Time and Responsibility Calendar]
EXHIBIT
3
OFFICER'S CERTIFICATE
I, _______________, hereby certify that I am
the duly elected _____________________ of [Norwest Bank]
("Seller") a corporation organized under the laws of the
State of ________, and further certify as follows:
1. Attached hereto as Exhibit A is a true
and correct copy of the Charter and By-laws of the
Seller, all of which are in full force and effect
on the date hereof. Attached hereto as Exhibit B
is a Certificate of Good Standing, dated
__________. No event has occurred since _________
which has affected the good standing of the Seller
under the laws of the State of ________.
2. There are no actions, suits or
proceedings pending or threatened against or
affecting the Seller which if adversely determined,
individually or in the aggregate, would materially
adversely affect the Seller's obligations under the
Designated Seller's Agreement dated
_____________________ __, 1995 between the Seller
and Residential Funding Mortgage Securities I, Inc.
(the "Depositor"), or the Underwriting Agreement
dated _________________________ __, 1995 among the
Seller, the Depositor and ___________________
(collectively, the "Agreements").
3. Each person who, as an officer or
representative of the Seller, signed the Agreements
and any other document delivered prior hereto or on
the date hereof in connection with the transactions
described in the Agreements was, at the respective
times of such signing and delivery, and is now,
duly elected or appointed, qualified and acting as
such officer or representative, and the signatures
of such persons appearing on such documents are
their genuine signatures.
4. All of the Seller's representations and
warranties contained in the Agreements are true and
correct as of the respective dates thereof and are
true and correct in all material respects as of the
Closing Date, and no event of default in the
performance of any of the Seller's covenants or
agreements under the Agreements has occurred and is
continuing, nor has an event occurred which with
the passage of time or notice or both would become
such an event of default.
5. With respect to its transfer of the
Mortgage Loans and the transactions contemplated by
the Agreements, the Seller has complied in all
respects with all the agreements by which it is
bound and has satisfied in all respects all the
conditions on its part to be performed or satisfied
prior to the Closing Date.
6. The statements contained in the
Prospectus Supplement dated December 11, 1995 under
the caption "Description of the Mortgage Pool" to
the extent such statements are based upon
information regarding the Mortgage Loans (as
defined in the Designated Seller's Agreement) and
under the caption ["The Designated Seller" and
"Pooling and Servicing Agreement The Master
Servicer" and in the subsections entitled "Master
Servicer," and "The Mortgage Pool" under the
caption entitled "Summary"] or elsewhere in the
Prospectus Supplement with respect to the subjects
discussed under such captions furnished or approved
by the Seller is true and accurate in all material
respects and does not contain any untrue statement
of a material fact or omit to state a material fact
necessary to make the statements therein not
misleading.
7. Attached hereto as Exhibit C is a
certified true copy of the resolutions of the Board
of Directors of the Seller with respect to the sale
of the Mortgage Loans subject to the Agreements,
and the same are in full force and effect and have
not been revoked, repealed or amended.
8. Attached hereto as Exhibit D is a true
and complete copy of each certificate or other
evidence of merger or change of name, signed or
stamped by the applicable regulatory authority.
9. The representations and warranties
contained in paragraph (b) of Section 4 of the
Designated Seller's Agreement are true and correct
as of the Closing Date and the Seller's obligations
to cure any breaches thereof and to repurchase or
effect substitution of any Mortgage Loan as to
which such breaches are not cured as described in
such exhibits are enforceable against the Seller in
accordance with its terms (subject to bankruptcy
insolvency, reorganization, receivership or
moratorium, other similar laws effecting the rights
of creditors generally and by general equity
principles). The Seller acknowledges and consents
to the assignment pursuant to the Designated
Seller's Agreement of such representations and
warranties and related rights to the Trustee for
the benefit of Certificateholders.
IN WITNESS WHEREOF, I have hereunto signed my name
and affixed the seal of the Seller.
Dated: _________________, 1995
_________________________________
Name:
Title:
I, , a [Assistant]
Secretary of , hereby
certify that _______________________ is the duly elected,
qualified and acting ________________ of the Seller and
that the signature appearing above is [her] [his] genuine
signature.
IN WITNESS WHEREOF, I have hereunto signed my
name.
Dated: _________________, 1995
____________________________________
Name:
Title: [Assistant]
Secretary
EXHIBIT
4
RESOLUTION
[To be supplied by __________________________________.]
EXHIBIT
5
December __, 1995
Residential Funding Mortgage
Securities I, Inc.
8400 Normandale Lake Boulevard
Minneapolis, Minnesota 55432
Standard & Poor's Ratings Services
26 Broadway - 10th Floor
New York, New York 10004
Fitch Investors Service, Inc.
One State Street Plaza - 33rd Floor
New York, New York 10004
Re: Mortgage Pass-Through Certificates,
Series 1995-R20
Dear Sirs:
I have acted as counsel to Norwest Mortgage, Inc.
(the "Seller"), a ________ corporation, in connection
with the execution and delivery by the Seller of the
Designated Seller's Agreement ("Designated Seller's
Agreement") between the Seller and Residential Funding
Mortgage Securities I, Inc. (the "Depositor") dated as of
___________________________ __, 1995 and the Underwriting
Agreement ("Underwriting Agreement") among the Seller,
the Depositor, Residential Funding Corporation and
___________________ dated as of _______________________
__, 1995. The Designated Seller's Agreement and the
Underwriting Agreement are collectively referred to as
the "Agreements". This opinion is being delivered to you
pursuant to Section 7(g) of the Designated Seller's
Agreement. Capitalized terms used but not defined herein
shall have the meanings ascribed to them in the
Agreements.
As to matters of fact material to this opinion, I
have relied, without independent investigation, on (i)
the representations and warranties of the Seller in the
Agreements, (ii) relevant resolutions of the Board of
Directors of the Seller and certificates of responsible
officers of the Seller and (iii) certificates of public
officials.
I have examined and relied on originals or copies,
certified or otherwise identified to my satisfaction, of
the certificate of incorporation and by-laws of the
Seller, records of proceedings taken by the Seller and
such other corporate documents and records of the Seller,
and have made such other investigations, as I have deemed
relevant or necessary for the purpose of this opinion.
I have assumed, without independent investigation, the
genuineness of all signatures, the authenticity of all
documents submitted to me as originals and the conformity
to original documents of all documents submitted to me as
certified, conformed or reproduction copies.
Based on the foregoing, I am of the opinion that:
1. The Seller is a corporation validly existing
and in good standing under the laws of the State of
________ and is duly authorized and has full power and
authority to transact the business contemplated by the
Agreements, and to execute, deliver and comply with its
obligations under the Agreements, the execution, delivery
and performance of which have been duly authorized by all
necessary corporate action on the part of the Seller.
2. The Seller has the full power and authority and
legal right to own the Mortgage Loans and to transfer and
convey the Mortgage Loans to the Depositor and has the
power to engage in the transactions contemplated by the
Agreements and all requisite power, authority and legal
right to execute and deliver the Agreements and to
perform and observe the terms and conditions of such
instruments.
3. The execution and delivery of the Agreements by
the Seller and the Seller's performance and compliance
with the terms of the Agreements do not (a) violate the
Seller's certificate of incorporation or by-laws, (b)
violate any ________ or federal law or regulation or, to
the best of my knowledge, any administrative decree or
order known to me to which the Seller is subject or (c)
to the best of my knowledge, constitute a default (or an
event which, with notice or lapse of time, or both, would
constitute a default) under, or result in the breach of,
any material contract, agreement or other instrument
known to me to which the Seller is a party or by which it
is bound or to which any of its assets are subject, which
violation, default or breach would materially and
adversely affect the Seller's ability to perform its
obligations under the Agreements.
4. Each of the Agreements constitute, assuming due
authorization, execution and delivery by the other
parties thereto, the valid and binding obligation of the
Seller enforceable against the Seller in accordance with
its terms, except as enforcement may be limited by (a)
bankruptcy, insolvency, reorganization, moratorium or
other laws affecting the enforcement of creditors' rights
in general, (b) general equity principles (regardless of
whether such enforcement is considered in a proceeding in
equity or at law) and (c) limitations of public policy
under applicable securities laws as to rights of
indemnity and contribution thereunder.
5. No consent, approval, authorization or order of
any court or governmental agency or body is required for
the execution, delivery and performance by the Seller of
the Agreements or the consummation of the transactions
contemplated by the Agreements except for such consents,
approvals, authorizations and orders (if any) that have
been obtained.
6. To the best of my current actual knowledge,
there are no actions, proceedings or investigations
pending or threatened against the Seller before any
court, administrative agency or other tribunal (i)
asserting the invalidity of the Agreements, (ii) seeking
to prevent the consummation of any of the transactions
contemplated in the Agreements, or (iii) which might
materially and adversely affect the performance by the
Seller of its obligations under, or the validity or
enforceability of, the Agreements.
I do not purport to be an expert on, or to
express any opinion concerning, any law other than the
law of the State of New York and the federal law of the
United States of America.
This opinion is being delivered only to the
parties to which it is addressed, and is not to be used,
quoted or relied upon by anyone other than such parties.
Very truly yours,
______________________________
EXHIBIT
6
FORM OF UNDERWRITING AGREEMENT
EXHIBIT 7
NORWEST MORTGAGE, INC.
OFFICER'S CERTIFICATE
REGARDING MORTGAGE LOAN ORIGINATORS
The undersigned, _______________________, as
________________________ of [Norwest Bank] (the
"Seller"), does hereby certify that all mortgage loans
sold by the Seller to Residential Funding Mortgage
Securities I, Inc. that were subsequently included as a
portion of the mortgage pool underlying the Mortgage
Pass-Through Certificates, Series 1995-R___ executed and
authenticated by __________________________________, as
Trustee in its capacity as trustee (the "Trustee") under
the related Pooling and Servicing Agreement dated as of
______________________________, 1995 among the Seller, in
its capacity as master servicer, the Trustee and
Residential Funding Mortgage Securities I, Inc., were
sold to the Seller by ___________________________________
and all such mortgage loans were originated by persons
who satisfy the requirements of Section 3(a)(41)(A)(ii)
of the Securities Exchange Act of 1934 and are savings
and loan associations, savings banks, commercial banks,
credit unions, insurance companies, or similar
institutions supervised and examined by a Federal or
State authority, or a mortgagee approved by the Secretary
of Housing and Urban Development pursuant to Sections 203
and 211 of the National Housing Act, or where the
mortgage loans involve a lien on a manufactured home, by
any such institution or by any financial institution
approved for insurance by the Secretary of Housing and
Urban Development pursuant to Section 2 of the National
Housing Act.
IN WITNESS WHEREOF, I have hereunto signed by
name.
Date: _________________, 1995
By:
Name:
Title:
EXHIBIT H
FORMS OF REQUEST FOR RELEASE
DATE:
TO:
RE: REQUEST FOR RELEASE OF DOCUMENTS
In connection with the administration of the pool of
Mortgage Loans held by you for the referenced pool, we
request the release of the Mortgage Loan File described
below.
Pooling and Servicing Agreement Dated:
Series#:
Account#:
Pool#:
Loan#:
Borrower Name(s):
Reason for Document Request: (circle one) Mortgage
Loan Prepaid in Full
Mortgage Loan
Repurchased
"We hereby certify that all amounts received or to be
received in connection with such payments which are
required to be deposited have been or will be so
deposited as provided in the Pooling and Servicing
Agreement."
Residential Funding Corporation
Authorized Signature
*******************************************************
*********
TO CUSTODIAN/TRUSTEE: Please acknowledge this request,
and check off documents being enclosed with a copy of
this form. You should retain this form for your files in
accordance with the terms of the Pooling and Servicing
Agreement.
Enclosed Documents: [ ] Promissory Note
[ ] Primary Insurance
Policy
[ ] Mortgage or Deed of
Trust
[ ] Assignment(s) of
Mortgage or Deed of Trust
[ ] Title Insurance Policy
[ ] Other:
Name
Title
Date
EXHIBIT I-1
FORM OF TRANSFER AFFIDAVIT AND AGREEMENT
STATE OF )
: ss.:
COUNTY OF )
[NAME OF OFFICER], being first duly sworn,
deposes and says:
1. That he is [Title of Officer] of [Name of
Owner] (record or beneficial owner of the Mortgage Pass-
Through Certificates, Series 1995-R20, Class R (the
"Owner")), a [savings institution] [corporation] duly
organized and existing under the laws of [the State of
__________________] [the United States], on behalf of
which he makes this affidavit and agreement.
2. That the Owner (i) is not and will not be
a "disqualified organization" as of [date of transfer]
within the meaning of Section 860E(e)(5) of the Internal
Revenue Code of 1986, as amended (the "Code"), (ii) will
endeavor to remain other than a disqualified organization
for so long as it retains its ownership interest in the
Class R Certificates, and (iii) is acquiring the Class R
Certificates for its own account or for the account of
another Owner from which it has received an affidavit and
agreement in substantially the same form as this
affidavit and agreement. (For this purpose, a
"disqualified organization" means the United States, any
state or political subdivision thereof, any agency or
instrumentality of any of the foregoing (other than an
instrumentality all of the activities of which are
subject to tax and, except for the Federal Home Loan
Mortgage Corporation, a majority of whose board of
directors is not selected by any such governmental
entity) or any foreign government, international
organization or any agency or instrumentality of such
foreign government or organization, any rural electric or
telephone cooperative, or any organization (other than
certain farmers' cooperatives) that is generally exempt
from federal income tax unless such organization is
subject to the tax on unrelated business taxable income).
3. That the Owner is aware (i) of the tax that
would be imposed on transfers of Class R Certificates to
disqualified organizations under the Code, that applies
to all transfers of Class R Certificates after March 31,
1988; (ii) that such tax would be on the transferor, or,
if such transfer is through an agent (which person
includes a broker, nominee or middleman) for a
disqualified organization, on the agent; (iii) that the
person otherwise liable for the tax shall be relieved of
liability for the tax if the transferee furnishes to such
person an affidavit that the transferee is not a
disqualified organization and, at the time of transfer,
such person does not have actual knowledge that the
affidavit is false; and (iv) that the Class R
Certificates may be "noneconomic residual interests"
within the meaning of Treasury regulations promulgated
pursuant to the Code and that the transferor of a
noneconomic residual interest will remain liable for any
taxes due with respect to the income on such residual
interest, unless no significant purpose of the transfer
was to impede the assessment or collection of tax.
4. That the Owner is aware of the tax imposed
on a "pass-through entity" holding Class R Certificates
if at any time during the taxable year of the pass-
through entity a disqualified organization is the record
holder of an interest in such entity. (For this purpose,
a "pass through entity" includes a regulated investment
company, a real estate investment trust or common trust
fund, a partnership, trust or estate, and certain
cooperatives.)
5. The Purchaser is not an employee benefit
plan or other plan subject to the prohibited transaction
provisions of the Employee Retirement Income Security Act
of 1974, as amended ("ERISA"), or Section 4975 of the
Internal Revenue Code of 1986, as amended (the "Code"),
or an investment manager, named fiduciary or a trustee of
any such plan, or any other Person acting, directly or
indirectly, on behalf of or purchasing any Certificate
with "plan assets" of any such plan.
6. That the Owner is aware that the Trustee
will not register the transfer of any Class R
Certificates unless the transferee, or the transferee's
agent, delivers to it an affidavit and agreement, among
other things, in substantially the same form as this
affidavit and agreement. The Owner expressly agrees that
it will not consummate any such transfer if it knows or
believes that any of the representations contained in
such affidavit and agreement are false.
7. That the Owner has reviewed the
restrictions set forth on the face of the Class R
Certificates and the provisions of Section 5.02(f) of the
Pooling and Servicing Agreement under which the Class R
Certificates were issued (in particular, clause (iii)(A)
and (iii)(B) of Section 5.02(f) which authorize the
Trustee to deliver payments to a person other than the
Owner and negotiate a mandatory sale by the Trustee in
the event the Owner holds such Certificates in violation
of Section 5.02(f)). The Owner expressly agrees to be
bound by and to comply with such restrictions and
provisions.
8. That the Owner consents to any additional
restrictions or arrangements that shall be deemed
necessary upon advice of counsel to constitute a
reasonable arrangement to ensure that the Class R
Certificates will only be owned, directly or indirectly,
by an Owner that is not a disqualified organization.
9. The Owner's Taxpayer Identification Number
is ______________.
10. This affidavit and agreement relates only
to the Class R Certificates held by the Owner and not to
any other holder of the Class R Certificates. The Owner
understands that the liabilities described herein relate
only to the Class R Certificates.
11. That no purpose of the Owner relating to
the transfer of any of the Class R Certificates by the
Owner is or will be to impede the assessment or
collection of any tax.
12. That the Owner has no present knowledge or
expectation that it will be unable to pay any United
States taxes owed by it so long as any of the
Certificates remain outstanding. In this regard, the
Owner hereby represents to and for the benefit of the
person from whom it acquired the Class R Certificate that
the Owner intends to pay taxes associated with holding
such Class R Certificate as they become due, fully
understanding that it may incur tax liabilities in excess
of any cash flows generated by the Class R Certificate.
13. That the Owner has no present knowledge or
expectation that it will become insolvent or subject to
a bankruptcy proceeding for so long as any of the Class
R Certificates remain outstanding.
14. The Owner is a citizen or resident of the
United States, a corporation, partnership or other entity
created or organized in, or under the laws of, the United
States or any political subdivision thereof, or an estate
or trust whose income from sources without the United
States is includible in gross income for United States
federal income tax purposes regardless of its connection
with the conduct of a trade or business within the United
States.
IN WITNESS WHEREOF, the Owner has caused this
instrument to be executed on its behalf, pursuant to the
authority of its Board of Directors, by its [Title of
Officer] and its corporate seal to be hereunto attached,
attested by its [Assistant] Secretary, this ____ day of
_______________, 199__.
[NAME OF OWNER]
By:
[Name of Officer]
[Title of Officer]
[Corporate Seal]
ATTEST:
[Assistant] Secretary
Personally appeared before me the above-named
[Name of Officer], known or proved to me to be the same
person who executed the foregoing instrument and to be
the [Title of Officer] of the Owner, and acknowledged to
me that he executed the same as his free act and deed and
the free act and deed of the Owner.
Subscribed and sworn before me this ____ day of
________________, 199__.
NOTARY PUBLIC
COUNTY OF
STATE OF
My Commission expires the
____ day of
_______________, 19__.
EXHIBIT I-2
FORM OF TRANSFEROR CERTIFICATE
__________________, 19__
Residential Funding Mortgage
Securities I, Inc.
8400 Normandale Lake Boulevard
Suite 600
Minneapolis, Minnesota 55437
The First National Bank
of Chicago
One First National Plaza
Mail Suite 0126
Chicago, Illinois 60670-0126
Attention: Residential Funding Corporation Series 1995-
R20
Re: Mortgage Pass-Through Certificates,
Series 1995-R20, Class R
Ladies and Gentlemen:
This letter is delivered to you in connection
with the transfer by _______________________________ (the
"Seller") to _______________________________ (the
"Purchaser") of $_____________ Initial Certificate
Principal Balance of Mortgage Pass-Through Certificates,
Series 1995-R20, Class R (the "Certificates"), pursuant
to Section 5.02 of the Pooling and Servicing Agreement
(the "Pooling and Servicing Agreement"), dated as of
December 1, 1995 among Residential Funding Mortgage
Securities I, Inc., as seller (the "Company"),
Residential Funding Corporation, as administrator,
Norwest Mortgage, Inc., as master servicer, and The First
National Bank of Chicago, as trustee (the "Trustee").
All terms used herein and not otherwise defined shall
have the meanings set forth in the Pooling and Servicing
Agreement. The Seller hereby certifies, represents and
warrants to, and covenants with, the Company and the
Trustee that:
1. No purpose of the Seller relating to the
transfer of the Certificate by the Seller to the
Purchaser is or will be to impede the assessment or
collection of any tax.
2. The Seller understands that the Purchaser
has delivered to the Trustee and the Master Servicer a
transfer affidavit and agreement in the form attached to
the Pooling and Servicing Agreement as Exhibit I-1. The
Seller does not know or believe that any representation
contained therein is false.
3. The Seller has at the time of the transfer
conducted a reasonable investigation of the financial
condition of the Purchaser as contemplated by Treasury
Regulations Section 1.860E-1(c)(4)(i) and, as a result of
that investigation, the Seller has determined that the
Purchaser has historically paid its debts as they become
due and has found no significant evidence to indicate
that the Purchaser will not continue to pay its debts as
they become due in the future. The Seller understands
that the transfer of a Class R Certificate may not be
respected for United States income tax purposes (and the
Seller may continue to be liable for United States income
taxes associated therewith) unless the Seller has
conducted such an investigation.
4. The Seller has no actual knowledge that
the proposed Transferee is not both a United States
Person and a Permitted Transferee.
Very truly yours,
(Seller)
By:
Name:
Title:
EXHIBIT J
FORM OF INVESTOR REPRESENTATION LETTER
______________, 19__
Residential Funding Mortgage
Securities I, Inc.
8400 Normandale Lake Boulevard
Suite 600
Minneapolis, MN 55437
The First National Bank
of Chicago
One First National Plaza
Mail Suite 0126
Chicago, Illinois 60670-0126
Attention: Residential Funding Corporation Series 1995-
R20
RE: Mortgage Pass-Through Certificates,
Series 1995-R20, Class B-
Ladies and Gentlemen:
_________________________ (the "Purchaser")
intends to purchase from ___________________________ (the
"Seller") $_____________ Initial Certificate Principal
Balance of Mortgage Pass-Through Certificates, Series
1995-R20, Class __ (the "Certificates"), issued pursuant
to the Pooling and Servicing Agreement (the "Pooling and
Servicing Agreement"), dated as of December 1, 1995 among
Residential Funding Mortgage Securities I, Inc., as
seller (the "Company"), Residential Funding Corporation,
as administrator, Norwest Mortgage, Inc., as master
servicer, and The First National Bank of Chicago, as
trustee (the "Trustee"). All terms used herein and not
otherwise defined shall have the meanings set forth in
the Pooling and Servicing Agreement. The Purchaser
hereby certifies, represents and warrants to, and
covenants with, the Company and the Trustee that:
1. The Purchaser understands that (a)
the Certificates have not been and will not be
registered or qualified under the Securities
Act of 1933, as amended (the "Act") or any
state securities law, (b) the Company is not
required to so register or qualify the
Certificates, (c) the Certificates may be
resold only if registered and qualified
pursuant to the provisions of the Act or any
state securities law, or if an exemption from
such registration and qualification is
available, (d) the Pooling and Servicing
Agreement contains restrictions regarding the
transfer of the Certificates and (e) the
Certificates will bear a legend to the
foregoing effect.
2. The Purchaser is acquiring the
Certificates for its own account for
investment only and not with a view to or for
sale in connection with any distribution
thereof in any manner that would violate the
Act or any applicable state securities laws.
3. The Purchaser is (a) a substantial,
sophisticated institutional investor having
such knowledge and experience in financial and
business matters, and, in particular, in such
matters related to securities similar to the
Certificates, such that it is capable of
evaluating the merits and risks of investment
in the Certificates, (b) able to bear the
economic risks of such an investment and (c)
an "accredited investor" within the meaning of
Rule 501(a) promulgated pursuant to the Act.
4. The Purchaser has been furnished
with, and has had an opportunity to review (a)
[a copy of the Private Placement Memorandum,
dated ___________________, 19__, relating to
the Certificates (b)] a copy of the Pooling
and Servicing Agreement and [b] [c] such other
information concerning the Certificates, the
Mortgage Loans and the Company as has been
requested by the Purchaser from the Company or
the Seller and is relevant to the Purchaser's
decision to purchase the Certificates. The
Purchaser has had any questions arising from
such review answered by the Company or the
Seller to the satisfaction of the Purchaser.
[If the Purchaser did not purchase the
Certificates from the Seller in connection
with the initial distribution of the
Certificates and was provided with a copy of
the Private Placement Memorandum (the
"Memorandum") relating to the original sale
(the "Original Sale") of the Certificates by
the Company, the Purchaser acknowledges that
such Memorandum was provided to it by the
Seller, that the Memorandum was prepared by
the Company solely for use in connection with
the Original Sale and the Company did not
participate in or facilitate in any way the
purchase of the Certificates by the Purchaser
from the Seller, and the Purchaser agrees that
it will look solely to the Seller and not to
the Company with respect to any damage,
liability, claim or expense arising out of,
resulting from or in connection with (a) error
or omission, or alleged error or omission,
contained in the Memorandum, or (b) any
information, development or event arising
after the date of the Memorandum.]
5. The Purchaser has not and will not
nor has it authorized or will it authorize any
person to (a) offer, pledge, sell, dispose of
or otherwise transfer any Certificate, any
interest in any Certificate or any other
similar security to any person in any manner,
(b) solicit any offer to buy or to accept a
pledge, disposition of other transfer of any
Certificate, any interest in any Certificate
or any other similar security from any person
in any manner, (c) otherwise approach or
negotiate with respect to any Certificate, any
interest in any Certificate or any other
similar security with any person in any
manner, (d) make any general solicitation by
means of general advertising or in any other
manner or (e) take any other action, that (as
to any of (a) through (e) above) would
constitute a distribution of any Certificate
under the Act, that would render the
disposition of any Certificate a violation of
Section 5 of the Act or any state securities
law, or that would require registration or
qualification pursuant thereto. The Purchaser
will not sell or otherwise transfer any of the
Certificates, except in compliance with the
provisions of the Pooling and Servicing
Agreement.
6. The Purchaser is not an employee
benefit or other plan subject to the
prohibited transaction provisions of the
Employee Retirement Income Security Act of
1974, as amended ("ERISA"), or Section 4975 of
the Internal Revenue Code of 1986, as amended
(the "Code"), or an investment manager, a
named fiduciary or a trustee of any such plan,
or any other person acting, directly or
indirectly, on behalf of or purchasing any
Certificate with "plan assets" of any such
plan, and understands that registration of
transfer of any Certificate to any such plan,
or to any person acting on behalf of or
purchasing any Certificate with "plan assets"
of any such plan, may not be made unless such
plan or person delivers an opinion of its
counsel, addressed and satisfactory to the
Trustee, the Company and the Master Servicer,
to the effect that the purchase and holding of
a Certificate by, on behalf of, or with "plan
assets" of any such plan is permissible under
applicable law, will not constitute or result
in any non-exempt prohibited transaction under
Section 406 of ERISA or Section 4975 of the
Code, and will not subject the Company, the
Master Servicer or the Trustee to any
obligation or liability (including obligations
or liabilities under ERISA or Section 4975 of
the Code) in addition to those undertaken in
the Pooling and Servicing Agreement.
7. The Purchaser is not a non-United
States person.
Very truly yours,
By:
Name:
Title:
EXHIBIT K
FORM OF TRANSFEROR REPRESENTATION LETTER
, 19
Residential Funding Mortgage
Securities I, Inc.
8400 Normandale Lake Boulevard
Suite 600
Minneapolis, MN 55437
The First National Bank
of Chicago
One First National Plaza
Mail Suite 0126
Chicago, Illinois 60670-0126
Attention: Residential Funding Corporation Series 1995-
R20
Re: Mortgage Pass-Through Certificates,
Series 1995-R20, Class B-
Ladies and Gentlemen:
In connection with the sale by
(the "Seller") to (the "Purchaser") of
$ Initial Certificate Principal Balance of
Mortgage Pass-Through Certificates, Series 1995-R20,
Class (the "Certificates"), issued pursuant to the
Pooling and Servicing Agreement (the "Pooling and
Servicing Agreement"), dated as of December 1, 1995 among
Residential Funding Mortgage Securities I, Inc., as
seller (the "Company"), Residential Funding Corporation,
as administrator, Norwest Mortgage, Inc., as master
servicer, and The First National Bank of Chicago, as
trustee (the "Trustee"). The Seller hereby certifies,
represents and warrants to, and covenants with, the
Company and the Trustee that:
Neither the Seller nor anyone acting on its
behalf has (a) offered, pledged, sold, disposed of or
otherwise transferred any Certificate, any interest in
any Certificate or any other similar security to any
person in any manner, (b) has solicited any offer to buy
or to accept a pledge, disposition or other transfer of
any Certificate, any interest in any Certificate or any
other similar security from any person in any manner, (c)
has otherwise approached or negotiated with respect to
any Certificate, any interest in any Certificate or any
other similar security with any person in any manner, (d)
has made any general solicitation by means of general
advertising or in any other manner, or (e) has taken any
other action, that (as to any of (a) through (e) above)
would constitute a distribution of the Certificates under
the Securities Act of 1933 (the "Act"), that would render
the disposition of any Certificate a violation of Section
5 of the Act or any state securities law, or that would
require registration or qualification pursuant thereto.
The Seller will not act, in any manner set forth in the
foregoing sentence with respect to any Certificate. The
Seller has not and will not sell or otherwise transfer
any of the Certificates, except in compliance with the
provisions of the Pooling and Servicing Agreement.
Very truly yours,
(Seller)
By:
Name:
Title:
EXHIBIT L
[FORM OF RULE 144A INVESTMENT REPRESENTATION]
Description of Rule 144A Securities, including numbers:
_______________________________________________
_______________________________________________
_______________________________________________
_______________________________________________
The undersigned seller, as registered holder
(the "Seller"), intends to transfer the Rule 144A
Securities described above to the undersigned buyer (the
"Buyer").
1. In connection with such transfer and in
accordance with the agreements pursuant to which the Rule
144A Securities were issued, the Seller hereby certifies
the following facts: Neither the Seller nor anyone
acting on its behalf has offered, transferred, pledged,
sold or otherwise disposed of the Rule 144A Securities,
any interest in the Rule 144A Securities or any other
similar security to, or solicited any offer to buy or
accept a transfer, pledge or other disposition of the
Rule 144A Securities, any interest in the Rule 144A
Securities or any other similar security from, or
otherwise approached or negotiated with respect to the
Rule 144A Securities, any interest in the Rule 144A
Securities or any other similar security with, any person
in any manner, or made any general solicitation by means
of general advertising or in any other manner, or taken
any other action, that would constitute a distribution of
the Rule 144A Securities under the Securities Act of
1933, as amended (the "1933 Act"), or that would render
the disposition of the Rule 144A Securities a violation
of Section 5 of the 1933 Act or require registration
pursuant thereto, and that the Seller has not offered the
Rule 144A Securities to any person other than the Buyer
or another "qualified institutional buyer" as defined in
Rule 144A under the 1933 Act.
2. The Buyer warrants and represents to, and
covenants with, the Seller, the Trustee and the Master
Servicer (as defined in the Pooling and Servicing
Agreement (the "Agreement"), dated as of December 1, 1995
among Norwest Mortgage, Inc., as Master Servicer,
Residential Funding Corporation, as administrator,
Residential Funding Mortgage Securities I, Inc. as
depositor pursuant to Section 5.02 of the Agreement and
The First National Bank of Chicago, as trustee, as
follows:
a. The Buyer understands that the Rule
144A Securities have not been registered under the
1933 Act or the securities laws of any state.
b. The Buyer considers itself a
substantial, sophisticated institutional investor
having such knowledge and experience in financial
and business matters that it is capable of
evaluating the merits and risks of investment in the
Rule 144A Securities.
c. The Buyer has been furnished with all
information regarding the Rule 144A Securities that
it has requested from the Seller, the Trustee or the
Servicer.
d. Neither the Buyer nor anyone acting on
its behalf has offered, transferred, pledged, sold
or otherwise disposed of the Rule 144A Securities,
any interest in the Rule 144A Securities or any
other similar security to, or solicited any offer to
buy or accept a transfer, pledge or other
disposition of the Rule 144A Securities, any
interest in the Rule 144A Securities or any other
similar security from, or otherwise approached or
negotiated with respect to the Rule 144A Securities,
any interest in the Rule 144A Securities or any
other similar security with, any person in any
manner, or made any general solicitation by means of
general advertising or in any other manner, or taken
any other action, that would constitute a
distribution of the Rule 144A Securities under the
1933 Act or that would render the disposition of the
Rule 144A Securities a violation of Section 5 of the
1933 Act or require registration pursuant thereto,
nor will it act, nor has it authorized or will it
authorize any person to act, in such manner with
respect to the Rule 144A Securities.
e. The Buyer is a "qualified
institutional buyer" as that term is defined in Rule
144A under the 1933 Act and has completed either of
the forms of certification to that effect attached
hereto as Annex 1 or Annex 2. The Buyer is aware
that the sale to it is being made in reliance on
Rule 144A. The Buyer is acquiring the Rule 144A
Securities for its own account or the accounts of
other qualified institutional buyers, understands
that such Rule 144A Securities may be resold,
pledged or transferred only (i) to a person
reasonably believed to be a qualified institutional
buyer that purchases for its own account or for the
account of a qualified institutional buyer to whom
notice is given that the resale, pledge or transfer
is being made in reliance on Rule 144A, or (ii)
pursuant to another exemption from registration
under the 1933 Act.
[3. The Buyer warrants and represents to, and
covenants with, the Seller, the Trustee, Master Servicer
and the Company that either (1) the Buyer is (A) not an
employee benefit plan (within the meaning of Section 3(3)
of the Employee Retirement Income Security Act of 1974,
as amended ("ERISA")), or a plan (within the meaning of
Section 4975(e)(1) of the Internal Revenue Code of 1986
("Code")), which (in either case) is subject to ERISA or
Section 4975 of the Code (both a "Plan"), and (B) is not
directly or indirectly purchasing the Rule 144A
Securities on behalf of, as investment manager of, as
named fiduciary of, as trustee of, or with "plan assets"
of a Plan, or (2) the Buyer understands that registration
of transfer of any Rule 144A Securities to any Plan, or
to any Person acting on behalf of or purchasing any
Certificate with "plan assets of any Plan, will not be
made unless such Plan or Person delivers an opinion of
its counsel, addressed and satisfactory to the Trustee,
the Company and the Master Servicer, to the effect that
the purchase and holding of the Rule 144A Securities by,
on behalf of or with "plan assets" of such Plan would not
constitute or result in a prohibited transaction under
Section 406 of ERISA or Section 4975 of the Code, and
would not subject the Company, the Master Servicer or the
Trustee to any obligation or liability (including
liabilities under ERISA or Section 4975 of the Code) in
addition to those undertaken in the Pooling and Servicing
Agreement.]
4. This document may be executed in one or
more counterparts and by the different parties hereto on
separate counterparts, each of which, when so executed,
shall be deemed to be an original; such counterparts,
together, shall constitute one and the same document.
IN WITNESS WHEREOF, each of the parties has
executed this document as of the date set forth below.
Print Name of Seller Print Name
of Buyer
By: By:
Name: Name:
Title: Title:
Taxpayer Identification: Taxpayer
Identification:
No. No.
Date: Date:
ANNEX 1 TO EXHIBIT L
QUALIFIED INSTITUTIONAL BUYER STATUS UNDER SEC RULE
144A
[For Buyers Other Than Registered Investment Companies]
The undersigned hereby certifies as follows in
connection with the Rule 144A Investment Representation
to which this Certification is attached:
1. As indicated below, the undersigned is the
President, Chief Financial Officer, Senior Vice President
or other executive officer of the Buyer.
2. In connection with purchases by the Buyer, the
Buyer is a "qualified institutional buyer" as that term
is defined in Rule 144A under the Securities Act of 1933
("Rule 144A") because (i) the Buyer owned and/or invested
on a discretionary basis $______________________ in
securities (except for the excluded securities referred
to below) as of the end of the Buyer's most recent fiscal
year (such amount being calculated in accordance with
Rule 144A) and (ii) the Buyer satisfies the criteria in
the category marked below.
___ Corporation, etc. The Buyer is a corporation
(other than a bank, savings and loan association
or similar institution), Massachusetts or similar
business trust, partnership, or charitable
organization described in Section 501(c)(3) of
the Internal Revenue Code.
___ Bank. The Buyer (a) is a national bank or
banking institution organized under the laws of
any State, territory or the District of Columbia,
the business of which is substantially confined
to banking and is supervised by the State or
territorial banking commission or similar
official or is a foreign bank or equivalent
institution, and (b) has an audited net worth of
at least $25,000,000 as demonstrated in its
latest annual financial statements, a copy of
which is attached hereto.
___ Savings and Loan. The Buyer (a) is a savings and
loan association, building and loan association,
cooperative bank, homestead association or
similar institution, which is supervised and
examined by a State or Federal authority having
supervision over any such institutions or is a
foreign savings and loan association or
equivalent institution and (b) has an audited net
worth of at least $25,000,000 as demonstrated in
its latest annual financial statements.
___ Broker-Dealer. The Buyer is a dealer registered
pursuant to Section 15 of the Securities Exchange
Act of 1934.
___ Insurance Company. The Buyer is an insurance
company whose primary and predominant business
activity is the writing of insurance or the
reinsuring of risks underwritten by insurance
companies and which is subject to supervision by
the insurance commissioner or a similar official
or agency of a State or territory or the District
of Columbia.
___ State or Local Plan. The Buyer is a plan
established and maintained by a State, its
political subdivisions, or any agency or
instrumentality of the State or its political
subdivisions, for the benefit of its employees.
___ ERISA Plan. The Buyer is an employee benefit
plan within the meaning of Title I of the
Employee Retirement Income Security Act of 1974.
___ Investment Adviser. The Buyer is an investment
adviser registered under the Investment Advisers
Act of 1940.
___ SBIC. The Buyer is a Small Business Investment
Company licensed by the U.S. Small Business
Administration under Section 301(c) or (d) of the
Small Business Investment Act of 1958.
___ Business Development Company. The Buyer is a
business development company as defined in
Section 202(a)(22) of the Investment Advisers Act
of 1940.
___ Trust Fund. The Buyer is a trust fund whose
trustee is a bank or trust company and whose
participants are exclusively (a) plans
established and maintained by a State, its
political subdivisions, or any agency or
instrumentality of the State or its political
subdivisions, for the benefit of its employees,
or (b) employee benefit plans within the meaning
of Title I of the Employee Retirement Income
Security Act of 1974, but is not a trust fund
that includes as participants individual
retirement accounts or H.R. 10 plans.
3. The term "securities" as used herein does
not include (i) securities of issuers that are affiliated
with the Buyer, (ii) securities that are part of an
unsold allotment to or subscription by the Buyer, if the
Buyer is a dealer, (iii) bank deposit notes and
certificates of deposit, (iv) loan participations, (v)
repurchase agreements, (vi) securities owned but subject
to a repurchase agreement and (vii) currency, interest
rate and commodity swaps.
4. For purposes of determining the aggregate
amount of securities owned and/or invested on a
discretionary basis by the Buyer, the Buyer used the cost
of such securities to the Buyer and did not include any
of the securities referred to in the preceding paragraph.
Further, in determining such aggregate amount, the Buyer
may have included securities owned by subsidiaries of the
Buyer, but only if such subsidiaries are consolidated
with the Buyer in its financial statements prepared in
accordance with generally accepted accounting principles
and if the investments of such subsidiaries are managed
under the Buyer's direction. However, such securities
were not included if the Buyer is a majority-owned,
consolidated subsidiary of another enterprise and the
Buyer is not itself a reporting company under the
Securities Exchange Act of 1934.
5. The Buyer acknowledges that it is familiar
with Rule 144A and understands that the seller to it and
other parties related to the Certificates are relying and
will continue to rely on the statements made herein
because one or more sales to the Buyer may be in reliance
on Rule 144A.
___ ___ Will the Buyer be purchasing the Rule
144A
Yes No Securities only for the Buyer's own
account?
6. If the answer to the foregoing question is
"no", the Buyer agrees that, in connection with any
purchase of securities sold to the Buyer for the account
of a third party (including any separate account) in
reliance on Rule 144A, the Buyer will only purchase for
the account of a third party that at the time is a
"qualified institutional buyer" within the meaning of
Rule 144A. In addition, the Buyer agrees that the Buyer
will not purchase securities for a third party unless the
Buyer has obtained a current representation letter from
such third party or taken other appropriate steps
contemplated by Rule 144A to conclude that such third
party independently meets the definition of "qualified
institutional buyer" set forth in Rule 144A.
7. The Buyer will notify each of the parties
to which this certification is made of any changes in the
information and conclusions herein. Until such notice is
given, the Buyer's purchase of Rule 144A Securities will
constitute a reaffirmation of this certification as of
the date of such purchase.
Print Name of Buyer
By:
Name:
Title:
Date:
ANNEX 2 TO EXHIBIT L
QUALIFIED INSTITUTIONAL BUYER STATUS UNDER SEC RULE
144A
[For Buyers That Are Registered Investment Companies]
The undersigned hereby certifies as follows in
connection with the Rule 144A Investment Representation
to which this Certification is attached:
1. As indicated below, the undersigned is the
President, Chief Financial Officer or Senior Vice
President of the Buyer or, if the Buyer is a "qualified
institutional buyer" as that term is defined in Rule 144A
under the Securities Act of 1933 ("Rule 144A") because
Buyer is part of a Family of Investment Companies (as
defined below), is such an officer of the Adviser.
2. In connection with purchases by Buyer, the
Buyer is a "qualified institutional buyer" as defined in
SEC Rule 144A because (i) the Buyer is an investment
company registered under the Investment Company Act of
1940, and (ii) as marked below, the Buyer alone, or the
Buyer's Family of Investment Companies, owned at least
$100,000,000 in securities (other than the excluded
securities referred to below) as of the end of the
Buyer's most recent fiscal year. For purposes of
determining the amount of securities owned by the Buyer
or the Buyer's Family of Investment Companies, the cost
of such securities was used.
____ The Buyer owned $___________________ in
securities (other than the excluded securities
referred to below) as of the end of the
Buyer's most recent fiscal year (such amount
being calculated in accordance with
Rule 144A).
____ The Buyer is part of a Family of Investment
Companies which owned in the aggregate
$______________ in securities (other than the
excluded securities referred to below) as of
the end of the Buyer's most recent fiscal year
(such amount being calculated in accordance
with Rule 144A).
3. The term "Family of Investment Companies"
as used herein means two or more registered investment
companies (or series thereof) that have the same
investment adviser or investment advisers that are
affiliated (by virtue of being majority owned
subsidiaries of the same parent or because one investment
adviser is a majority owned subsidiary of the other).
4. The term "securities" as used herein does
not include (i) securities of issuers that are affiliated
with the Buyer or are part of the Buyer's Family of
Investment Companies, (ii) bank deposit notes and
certificates of deposit, (iii) loan participations, (iv)
repurchase agreements, (v) securities owned but subject
to a repurchase agreement and (vi) currency, interest
rate and commodity swaps.
5. The Buyer is familiar with Rule 144A and
understands that each of the parties to which this
certification is made are relying and will continue to
rely on the statements made herein because one or more
sales to the Buyer will be in reliance on Rule 144A. In
addition, the Buyer will only purchase for the Buyer's
own account.
6. The undersigned will notify each of the
parties to which this certification is made of any
changes in the information and conclusions herein. Until
such notice, the Buyer's purchase of Rule 144A Securities
will constitute a reaffirmation of this certification by
the undersigned as of the date of such purchase.
Print Name of Buyer
By:
Name:
Title:
IF AN ADVISER:
Print Name of Buyer
Date:
Exhibit M
Schedule of Discount Fractions
1995-R20
Schedule of Discount Fractions
PRINCIPAL NET MORTGAGE DISCOUNT
LOAN # BALANCE RATE FRACTION
1455664 246,169.34 6.980 6.9333333333%
1455665 229,344.19 6.980 6.9333333333%
1455666 293,432.69 6.980 6.9333333333%
1455669 371,334.75 6.980 6.9333333333%
1455673 240,000.31 6.980 6.9333333333%
1455675 322,172.07 6.980 6.9333333333%
1455727 198,428.49 6.980 6.9333333333%
1455729 339,820.13 6.980 6.9333333333%
1455730 293,704.75 6.980 6.9333333333%
1455732 602,515.08 6.980 6.9333333333%
1455733 220,278.39 6.980 6.9333333333%
1455734 237,900.86 6.980 6.9333333333%
1455736 231,329.87 6.980 6.9333333333%
1455738 292,181.75 6.980 6.9333333333%
1455739 246,412.90 6.980 6.9333333333%
1455742 317,884.86 6.980 6.9333333333%
1455744 539,633.49 6.980 6.9333333333%
1455747 422,134.23 6.980 6.9333333333%
1455748 540,906.41 6.980 6.9333333333%
1455754 280,389.21 6.980 6.9333333333%
1455756 367,426.03 6.980 6.9333333333%
1455760 260,176.99 6.980 6.9333333333%
1455764 229,089.54 6.980 6.9333333333%
1455767 279,345.28 6.980 6.9333333333%
1455770 332,246.86 6.980 6.9333333333%
1455775 324,732.07 6.980 6.9333333333%
1455784 239,858.93 6.980 6.9333333333%
1455790 758,737.28 6.980 6.9333333333%
1455794 281,956.52 6.980 6.9333333333%
1455876 258,966.12 6.980 6.9333333333%
1455877 348,375.37 6.980 6.9333333333%
1455878 230,427.48 6.980 6.9333333333%
1455879 314,557.87 6.980 6.9333333333%
1455880 298,440.54 6.980 6.9333333333%
1455883 367,130.75 6.980 6.9333333333%
1455904 336,781.40 6.980 6.9333333333%
1455906 244,745.01 6.980 6.9333333333%
1455910 283,914.43 6.980 6.9333333333%
1455917 342,655.48 6.980 6.9333333333%
1455921 244,978.70 6.980 6.9333333333%
1455928 64,625.22 6.980 6.9333333333%
1455961 209,315.28 6.980 6.9333333333%
1456048 274,877.21 6.980 6.9333333333%
1456062 244,228.55 6.980 6.9333333333%
1456081 327,227.74 6.980 6.9333333333%
1456095 261,989.37 6.980 6.9333333333%
1457008 209,706.48 6.980 6.9333333333%
1457009 301,039.99 6.980 6.9333333333%
1455996 175,569.43 7.085 5.5333333333%
1455390 275,052.40 7.105 5.2666666667%
1455677 283,890.50 7.105 5.2666666667%
1455680 224,462.62 7.105 5.2666666667%
1455682 270,687.11 7.105 5.2666666667%
1455683 234,654.37 7.105 5.2666666667%
1455684 243,263.90 7.105 5.2666666667%
1455685 231,297.24 7.105 5.2666666667%
1455686 403,629.92 7.105 5.2666666667%
1455689 228,577.08 7.105 5.2666666667%
1455690 337,782.28 7.105 5.2666666667%
1455691 341,255.83 7.105 5.2666666667%
1455773 302,987.46 7.105 5.2666666667%
1455778 251,732.84 7.105 5.2666666667%
1455781 254,763.08 7.105 5.2666666667%
1455787 238,591.23 7.105 5.2666666667%
1455791 223,499.13 7.105 5.2666666667%
1455795 262,367.81 7.105 5.2666666667%
1455797 439,437.14 7.105 5.2666666667%
1455800 137,006.47 7.105 5.2666666667%
1455804 257,841.70 7.105 5.2666666667%
1455807 221,368.19 7.105 5.2666666667%
1455809 478,203.39 7.105 5.2666666667%
1455811 325,422.79 7.105 5.2666666667%
1455813 313,441.58 7.105 5.2666666667%
1455814 113,219.17 7.105 5.2666666667%
1455815 242,253.66 7.105 5.2666666667%
1455816 211,573.18 7.105 5.2666666667%
1455818 294,116.04 7.105 5.2666666667%
1455819 211,608.05 7.105 5.2666666667%
1455820 586,096.95 7.105 5.2666666667%
1455821 232,330.00 7.105 5.2666666667%
1455822 284,056.63 7.105 5.2666666667%
1455823 244,110.69 7.105 5.2666666667%
1455824 468,392.77 7.105 5.2666666667%
1455826 210,591.08 7.105 5.2666666667%
1455828 293,851.60 7.105 5.2666666667%
1455829 293,304.35 7.105 5.2666666667%
1455830 516,710.90 7.105 5.2666666667%
1455832 365,333.76 7.105 5.2666666667%
1455833 253,975.34 7.105 5.2666666667%
1455834 340,395.34 7.105 5.2666666667%
1455835 316,492.42 7.105 5.2666666667%
1455836 218,809.37 7.105 5.2666666667%
1455838 246,799.69 7.105 5.2666666667%
1455867 301,687.78 7.105 5.2666666667%
1455872 406,734.18 7.105 5.2666666667%
1455881 283,929.77 7.105 5.2666666667%
1455882 104,807.16 7.105 5.2666666667%
1455884 125,971.18 7.105 5.2666666667%
1455886 228,415.83 7.105 5.2666666667%
1455887 170,838.73 7.105 5.2666666667%
1455903 238,639.21 7.105 5.2666666667%
1455907 181,698.32 7.105 5.2666666667%
1455912 326,560.80 7.105 5.2666666667%
1455949 161,875.25 7.105 5.2666666667%
1455951 163,622.05 7.105 5.2666666667%
1455952 101,960.07 7.105 5.2666666667%
1455995 117,054.57 7.105 5.2666666667%
1456098 487,348.30 7.105 5.2666666667%
1456168 264,595.48 7.105 5.2666666667%
1456983 215,256.71 7.105 5.2666666667%
1457030 39,180.23 7.105 5.2666666667%
1457124 274,790.74 7.105 5.2666666667%
1457179 283,415.55 7.105 5.2666666667%
1457181 355,729.12 7.105 5.2666666667%
1457401 215,785.41 7.105 5.2666666667%
1455498 289,200.43 7.230 3.6000000000%
1455520 248,291.67 7.230 3.6000000000%
1455589 212,522.79 7.230 3.6000000000%
1455590 260,395.93 7.230 3.6000000000%
1455603 274,791.02 7.230 3.6000000000%
1455621 224,495.90 7.230 3.6000000000%
1455630 493,891.01 7.230 3.6000000000%
1455639 303,318.93 7.230 3.6000000000%
1455646 229,011.69 7.230 3.6000000000%
1455678 312,757.55 7.230 3.6000000000%
1455681 205,735.80 7.230 3.6000000000%
1455692 340,192.47 7.230 3.6000000000%
1455693 623,142.57 7.230 3.6000000000%
1455694 820,989.00 7.230 3.6000000000%
1455696 312,517.09 7.230 3.6000000000%
1455697 226,952.96 7.230 3.6000000000%
1455698 224,981.68 7.230 3.6000000000%
1455699 249,680.10 7.230 3.6000000000%
1455701 509,774.33 7.230 3.6000000000%
1455702 269,373.75 7.230 3.6000000000%
1455765 292,945.08 7.230 3.6000000000%
1455772 223,260.46 7.230 3.6000000000%
1455776 373,896.72 7.230 3.6000000000%
1455780 275,865.48 7.230 3.6000000000%
1455789 253,708.93 7.230 3.6000000000%
1455793 342,078.73 7.230 3.6000000000%
1455798 270,476.13 7.230 3.6000000000%
1455801 214,630.64 7.230 3.6000000000%
1455808 258,716.18 7.230 3.6000000000%
1455810 212,873.46 7.230 3.6000000000%
1455812 302,360.92 7.230 3.6000000000%
1455817 220,868.11 7.230 3.6000000000%
1455825 155,705.59 7.230 3.6000000000%
1455827 136,511.93 7.230 3.6000000000%
1455831 97,998.45 7.230 3.6000000000%
1455837 250,053.14 7.230 3.6000000000%
1455839 210,696.98 7.230 3.6000000000%
1455840 531,688.00 7.230 3.6000000000%
1455841 242,168.13 7.230 3.6000000000%
1455842 540,973.13 7.230 3.6000000000%
1455843 246,956.40 7.230 3.6000000000%
1455844 337,795.87 7.230 3.6000000000%
1455845 296,935.43 7.230 3.6000000000%
1455846 259,577.94 7.230 3.6000000000%
1455847 273,663.00 7.230 3.6000000000%
1455848 273,908.87 7.230 3.6000000000%
1455849 483,252.99 7.230 3.6000000000%
1455850 146,714.16 7.230 3.6000000000%
1455852 315,069.03 7.230 3.6000000000%
1455853 325,114.18 7.230 3.6000000000%
1455854 230,842.03 7.230 3.6000000000%
1455855 333,155.58 7.230 3.6000000000%
1455856 242,604.74 7.230 3.6000000000%
1455857 318,333.87 7.230 3.6000000000%
1455858 220,902.14 7.230 3.6000000000%
1455861 518,735.22 7.230 3.6000000000%
1455870 161,406.58 7.230 3.6000000000%
1455889 245,688.83 7.230 3.6000000000%
1455890 489,123.09 7.230 3.6000000000%
1455892 224,996.67 7.230 3.6000000000%
1455895 264,126.39 7.230 3.6000000000%
1455902 94,360.58 7.230 3.6000000000%
1455911 125,497.98 7.230 3.6000000000%
1455947 223,891.47 7.230 3.6000000000%
1455953 88,276.13 7.230 3.6000000000%
1455954 312,474.79 7.230 3.6000000000%
1455955 469,068.96 7.230 3.6000000000%
1456057 335,499.72 7.230 3.6000000000%
1456148 310,736.64 7.230 3.6000000000%
1456219 284,575.66 7.230 3.6000000000%
1456962 287,337.76 7.230 3.6000000000%
1456969 345,243.59 7.230 3.6000000000%
1456993 289,784.77 7.230 3.6000000000%
1456994 244,864.05 7.230 3.6000000000%
1457011 272,595.02 7.230 3.6000000000%
1457012 215,016.90 7.230 3.6000000000%
1457016 398,799.42 7.230 3.6000000000%
1457025 997,759.60 7.230 3.6000000000%
1457100 254,578.35 7.230 3.6000000000%
1457115 389,710.56 7.230 3.6000000000%
1457145 314,766.22 7.230 3.6000000000%
1455361 533,830.94 7.355 1.9333333333%
1455378 229,497.41 7.355 1.9333333333%
1455424 296,999.59 7.355 1.9333333333%
1455470 249,819.05 7.355 1.9333333333%
1455636 498,907.42 7.355 1.9333333333%
1455638 324,289.83 7.355 1.9333333333%
1455651 335,102.46 7.355 1.9333333333%
1455653 338,771.10 7.355 1.9333333333%
1455655 274,988.99 7.355 1.9333333333%
1455657 323,593.13 7.355 1.9333333333%
1455659 300,013.64 7.355 1.9333333333%
1455661 294,151.31 7.355 1.9333333333%
1455663 273,569.06 7.355 1.9333333333%
1455723 208,549.87 7.355 1.9333333333%
1455724 370,528.36 7.355 1.9333333333%
1455725 265,982.81 7.355 1.9333333333%
1455726 124,119.44 7.355 1.9333333333%
1455745 242,843.89 7.355 1.9333333333%
1455750 378,430.91 7.355 1.9333333333%
1455753 268,683.93 7.355 1.9333333333%
1455755 358,382.03 7.355 1.9333333333%
1455759 260,740.41 7.355 1.9333333333%
1455762 151,182.11 7.355 1.9333333333%
1455766 290,444.98 7.355 1.9333333333%
1455888 562,770.54 7.355 1.9333333333%
1455894 129,420.20 7.355 1.9333333333%
1455901 154,456.24 7.355 1.9333333333%
1455905 207,804.78 7.355 1.9333333333%
1455916 279,431.19 7.355 1.9333333333%
1455931 58,952.97 7.355 1.9333333333%
1455933 366,397.61 7.355 1.9333333333%
1455960 293,056.83 7.355 1.9333333333%
1455968 243,286.83 7.355 1.9333333333%
1455974 598,688.89 7.355 1.9333333333%
1455990 239,276.01 7.355 1.9333333333%
1456005 649,056.11 7.355 1.9333333333%
1456006 49,064.88 7.355 1.9333333333%
1456007 78,436.38 7.355 1.9333333333%
1456042 494,916.17 7.355 1.9333333333%
1456096 262,618.09 7.355 1.9333333333%
1456104 235,135.06 7.355 1.9333333333%
1456142 255,814.72 7.355 1.9333333333%
1456190 259,431.87 7.355 1.9333333333%
1456209 245,462.47 7.355 1.9333333333%
1456923 314,772.00 7.355 1.9333333333%
1456965 449,524.40 7.355 1.9333333333%
1456980 579,157.77 7.355 1.9333333333%
1456985 262,036.06 7.355 1.9333333333%
1457022 227,333.60 7.355 1.9333333333%
1457029 223,510.52 7.355 1.9333333333%
1457062 266,806.75 7.355 1.9333333333%
1457098 499,273.92 7.355 1.9333333333%
1457134 479,652.58 7.355 1.9333333333%
1457153 269,804.59 7.355 1.9333333333%
1457164 352,194.91 7.355 1.9333333333%
1457175 265,613.74 7.355 1.9333333333%
1457200 348,717.20 7.355 1.9333333333%
1457211 318,886.25 7.355 1.9333333333%
1455728 78,278.23 7.375 1.6666666667%
1455393 231,505.58 7.480 0.2666666667%
1455495 244,654.48 7.480 0.2666666667%
1455570 269,034.76 7.480 0.2666666667%
1455582 224,520.50 7.480 0.2666666667%
1455604 395,597.13 7.480 0.2666666667%
1455610 249,287.30 7.480 0.2666666667%
1455615 297,945.05 7.480 0.2666666667%
1455623 298,927.54 7.480 0.2666666667%
1455627 238,567.98 7.480 0.2666666667%
1455633 223,522.66 7.480 0.2666666667%
1455634 244,679.67 7.480 0.2666666667%
1455645 227,514.11 7.480 0.2666666667%
1455650 224,644.95 7.480 0.2666666667%
1455652 252,812.17 7.480 0.2666666667%
1455656 240,690.04 7.480 0.2666666667%
1455658 221,715.00 7.480 0.2666666667%
1455660 319,302.19 7.480 0.2666666667%
1455662 276,651.99 7.480 0.2666666667%
1455667 362,678.15 7.480 0.2666666667%
1455668 210,358.99 7.480 0.2666666667%
1455670 513,223.93 7.480 0.2666666667%
1455672 217,091.10 7.480 0.2666666667%
1455676 250,688.92 7.480 0.2666666667%
1455704 77,642.49 7.480 0.2666666667%
1455710 351,249.83 7.480 0.2666666667%
1455731 250,257.55 7.480 0.2666666667%
1455735 134,992.38 7.480 0.2666666667%
1455737 272,602.05 7.480 0.2666666667%
1455740 309,287.61 7.480 0.2666666667%
1455741 293,524.22 7.480 0.2666666667%
1455743 311,485.09 7.480 0.2666666667%
1455746 292,766.45 7.480 0.2666666667%
1455749 311,135.81 7.480 0.2666666667%
1455751 111,442.59 7.480 0.2666666667%
1455757 200,401.53 7.480 0.2666666667%
1455758 252,396.18 7.480 0.2666666667%
1455763 256,564.58 7.480 0.2666666667%
1455768 362,013.20 7.480 0.2666666667%
1455769 264,171.89 7.480 0.2666666667%
1455774 523,062.22 7.480 0.2666666667%
1455777 220,143.16 7.480 0.2666666667%
1455779 319,236.99 7.480 0.2666666667%
1455782 241,875.74 7.480 0.2666666667%
1455783 204,102.35 7.480 0.2666666667%
1455785 636,515.21 7.480 0.2666666667%
1455786 259,623.57 7.480 0.2666666667%
1455788 231,488.19 7.480 0.2666666667%
1455792 311,844.44 7.480 0.2666666667%
1455796 262,895.93 7.480 0.2666666667%
1455799 198,128.75 7.480 0.2666666667%
1455802 410,555.83 7.480 0.2666666667%
1455803 270,274.10 7.480 0.2666666667%
1455805 249,467.06 7.480 0.2666666667%
1455806 301,256.65 7.480 0.2666666667%
1455871 268,926.40 7.480 0.2666666667%
1455909 214,878.00 7.480 0.2666666667%
1455913 347,955.94 7.480 0.2666666667%
1455914 250,746.43 7.480 0.2666666667%
1455915 226,600.23 7.480 0.2666666667%
1455919 387,154.25 7.480 0.2666666667%
1455920 240,473.70 7.480 0.2666666667%
1455922 387,452.18 7.480 0.2666666667%
1455923 244,280.75 7.480 0.2666666667%
1455924 262,360.52 7.480 0.2666666667%
1455927 78,204.40 7.480 0.2666666667%
1455938 227,350.05 7.480 0.2666666667%
1455940 274,164.49 7.480 0.2666666667%
1455950 214,935.53 7.480 0.2666666667%
1455958 148,118.36 7.480 0.2666666667%
1455959 236,571.68 7.480 0.2666666667%
1455962 341,271.17 7.480 0.2666666667%
1456001 252,810.06 7.480 0.2666666667%
1456026 239,488.55 7.480 0.2666666667%
1456036 448,717.20 7.480 0.2666666667%
1456050 247,677.46 7.480 0.2666666667%
1456131 229,666.90 7.480 0.2666666667%
1456135 268,731.76 7.480 0.2666666667%
1456144 248,048.23 7.480 0.2666666667%
1456151 399,433.54 7.480 0.2666666667%
1456924 298,586.38 7.480 0.2666666667%
1456926 309,339.36 7.480 0.2666666667%
1456936 274,206.33 7.480 0.2666666667%
1456944 353,350.43 7.480 0.2666666667%
1456945 269,809.43 7.480 0.2666666667%
1456954 300,922.95 7.480 0.2666666667%
1456973 238,544.20 7.480 0.2666666667%
1456988 362,698.70 7.480 0.2666666667%
1457004 464,009.04 7.480 0.2666666667%
1457013 717,981.78 7.480 0.2666666667%
1457043 333,764.26 7.480 0.2666666667%
1457049 259,358.54 7.480 0.2666666667%
1457059 274,805.91 7.480 0.2666666667%
1457096 215,594.26 7.480 0.2666666667%
1457102 429,696.51 7.480 0.2666666667%
1457140 589,583.59 7.480 0.2666666667%
1457158 562,102.99 7.480 0.2666666667%
1457162 271,808.03 7.480 0.2666666667%
1457191 324,307.41 7.480 0.2666666667%
1457218 217,926.99 7.480 0.2666666667%
1457402 233,083.65 7.480 0.2666666667%
$103,865,442.60 3.1466863506%
