Document:

Contract betwn National Institute of Environmental Health Sciences & Registrant

 [Confidential Treatment Requested. Portions of this agreement have been redacted and filed separately with the
commission.] 
  
 Exhibit 10.27 
  

									
	 SOLICITATION/CONTRACT/ORDER FOR COMMERCIAL ITEMS
 OFFEROR TO COMPLETE BLOCKS 12, 17, 23, 24 & 30
	  	 1. REQUISITION NUMBER
  
     QX130341
	  	 PAGE 1 OF 20
  

	

					
	 2. CONTRACT NO.
  
     273-03-C-0045
	  	 3.  AWARD EFFECTIVE
     DATE
  
     See Block
31.C.
	  	4. ORDER NUMBER	  	 5.  SOLICITATION NUMBER
  
  
     273-03-P-0011
	  	 6.  SOLICITATION ISSUE
     DATE
  
     7/18/2003

	

	 7.  FOR SOLICITATION
 INFORMATION,
CALL
	  	 a.  NAME
  
  
     Mary W. McConnell
	  	 b.  TELEPHONE NUMBER
      (No collect calls)
  
 919-541-3813
	  	 8.  OFFER DUE DATE/
      LOCAL TIME
  
 Date:    8/4/2003
 Time:    1:00 P.M.

	

  

											
	9.  ISSUED BY:	  	  CODE	  	OMB 0990-0115	  	10.  THIS ACQUISITION IS:	  	11.  DELIVER FOR	  	12.  DISCOUNT TERMS
	  
 National Institute
of Environmental Health Sciences
 Acquisitions Management Branch, OM
 P. O. Box 12874
 Research Triangle Park, NC 27709
	  	 x  UNRESTRICTED
  
  ̈  SET ASIDE
        % FOR
  
        ̈  SMALL BUSINESS
  
        ̈  HUBZONE SMALL
	  	 FOB DESTINATION
 UNLESS BLOCK IS
 MARKED
  
  ̈  SEE SCHEDULE
	  	***
	 	  	            BUSINESS	  	       13a.  THIS CONTRACT IS A RATED
          ̈  ORDER UNDER DPAS (16 CFR 700)

						
	 	  	 	  	 	  	  ̈  8(A)
  
 NAICS: 112990            
	  	13b.  RATING	  	 
	 	  	 	  	 	  	 SIZE STANDARD
               $0,75M            
	  	 14.  METHOD OF SOLICITATION
  
  ̈  RFQ             ̈  IFB            x  RFP

  

											
	15.  DELIVER TO:	  	CODE        	  	 	  	16.  ADMINISTERED BY:	  	CODE	  	 
	 	  	 	  	 	  	 	  	 	  	 
	 National Institute of Environmental Health Sciences
 See Statement of Work
	  	 NIEHS Contract Specialist, Mary W. McConnell
 OMB No. 0990-0115
	  	 
	 	  	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 	  	 

  

													
	 17a.  CONTRACTOR/
         OFFEROR
	  	 CODE        
	 	FACILITY CODE	 	18a.  PAYMENT WILL BE MADE BY:	  	                                CODE	  	 	  	 
							
	 Xenogen Biosciences
 5 Cedar Brook
Drive
 Cranbury, New Jersey 08512
	  	 	 	 	 	 National Institutes of Health Commercial Accounts Section, OFM Bldg.31, Rm.B1B39
 9000 Rockville Pike
 Bathesdsa, MD 20892
	  	 	  	 	  	 
	TELEPHONE NO. (609) 235-1415	  	 	 	 	 	 	  	 	  	 	  	 

											
	  ̈    17b.    CHECK IF REMITTANCE IS DIFFERENT
                   AND PUT SUCH ADDRESS IN OFFER
	  	 	 	 18b.  SUBMIT INVOICES TO ADDRESS SHOWN IN BLOCK: 18a UNLESS BLOCK BELOW IS
         CHECKED  ̈  SEE ADDENDUM
	  	 	  	 

  

													
	 19.                

ITEM NO.            
	 	 20.
 SCHEDULE OF SUPPLIES/
 SERVICES
	 	 21.
 QUANTITY
	 	 22.
 UNIT
	  	 23.
 UNIT PRICE
	  	24. AMOUNT	  	 

													
	 	 	 Conditional Knockout Mouse Lines Bearing Floxed
  
 (See 5F-1449 Page 2)
  
 (Use Reverse and/or Attach Additional Sheets as Necessary)
	 	 	 	 	  	***	  	***	  	 

  

					
	25.  ACCOUNTING AND APPROPRIATION DATA	  	 	  	26.  TOTAL AWARD AMOUNT (For Govt. Use only
	                                       
     1-311122130-A2    cr300045
3-8323763.OXI30341  25.2Z    $208,335  Current Obligation	  	 	  	***

							
	x 27a.	  	 SOLICITATION INCORPORATED BY REFERENCE
 FAR 82-212-1, 82-212-4, FAR 82-212-3 AND 82-212-6 ARE ATTACHED, ADDENDA
	  	x  ARE	  	 ̈  ARE NOT ATTACHED
	 ̈ 27c.	  	CONTRACT/PURCHASE ORDER INCORPORATES BY REFERENCE FAR 82-212-4, FAR 82-212-5 IS ATTACHED, ADDENDA	  	 ̈  ARE	  	 ̈  ARE NOT ATTACHED

							
	x 28.	  	CONTRACTOR IS REQUIRED TO SIGN THIS DOCUMENT AND RETURN     1     COPIES TO ISSUING OFFICE. CONTRACTOR AGREES TO FURNISH AND DELIVER ALL ITEMS
SET FORTH OR OTHERWISE IDENTIFIED ABOVE AND ON ANY ADDITIONAL SHEETS SUBJECT TO THE TERMS AND CONDITIONS SPECIFIED HEREIN                 .	  	 ̈ 29.	  	 AWARD OF CONTRACT. REF.        OFFER        
 DATED            YOUR OFFER ON SOLICITATION (BLOCK B), INCLUDING ANY ADDITIONS OR CHANGES WHICH A SET FORTH
HEREIN, IS ACCEPTED AS TO ITEMS:

  

			
	30a. SIGNATURE OF OFFEROR/CONTRACTOR	    	31a. UNITED STATES OF AMERICA (SIGNATURE OF CONTRACTING OFFICER)
		
	/s/    David R.
Boyko                            	    	                    /s/    Antoinette
Bridges        

							
				
	30b. NAME AND TITLE OF SIGNER (Type or print)	 	30c. DATE SIGNED	 	 31d. NAME OF CONTRACTING OFFICER
         (Type or print)
	  	 31c. DATE SIGNED

	DAVID R. BOYKO
VICE PRESIDENT, LICENSING & LEGAL SERVICES	 	9/19/03        	 	        Antoinette Bridges        	  	9/25/06

			
	 AUTHORIZED FOR LEGAL REPRODUCTION
 PREVIOUS EDITION IS
NOT USABLE
	  	 STANDARD FORM 1449 (REV.-4007)
 Prescribed by GSA - FAR (48 CFR) 53-212

  

	***	Confidential Treatment Requested 

											
	

	 19
 ITEM NO.
	  	 20
 SCHEDULE OF SUPPLIES/SERVICES
	  	 21
 QUANTITY
	  	 22
 UNIT
	  	 23
 UNIT PRICE
	  	 24
 AMOUNT

	

	 	  	Complete Supplemental Attached Page for Page 2 of the SF-1449	  	 	  	 	  	 	  	 
	

	 	  	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 	  	 
	

  
  

									
	32a. QUANTITY IN COLUMN 21 HAS BEEN:	    	 	 	 
	
	  ̈  RECEIVED         ̈  INSPECTED          ̈  ACCEPTED AND CONFORMS TO THE CONTRACT EXCEPT AS
NOTED:
                                        
                                

	

			
	32b. SIGNATURE OF AUTHORIZED GOVERNMENT         REPRESENTATIVE	    	32c. DATE	    	32d. PRINTED NAME AND TITLE OF AUTHORIZED GOVERNMENT
        REPRESENTATIVE
	

		
	32e. MAILING ADDRESS OF AUTHORIZED GOVERNMENT REPRESENTATIVE	    	32f. TELEPHONE NUMBER OF AUTHORIZED GOVERNMENT
        REPRESENTATIVE
	 	 	 	

				
	 	 	 	    	 	    	32g. E-MAIL OF AUTHORIZED GOVERNMENT REPRESENTATIVE
	

					
	33. SHIP NUMBER	 	34. VOUCHER NUMBER	    	35. AMOUNT VERIFIED
      CORRECT FOR	    	36. PAYMENT
 ̈  COMPLETE  ̈  PARTIAL  ̈  FINAL	 	37. CHECK NUMBER
	
	 	 	 	 	 	 	 	 
	 ̈  PARTIAL         ̈  FINAL	 	 	    	 	    	 	 	 
	

					
	38. S/R ACCOUNT NUMBER	 	39. S/R VOUCHER NUMBER	    	40. PAID BY	    	 	 	 
	

							
	 41a. I CERTIFY THIS AMOUNT IS CORRECT AND PROPER FOR PAYMENT
	    	42a. RECEIVED BY (Print)	  	 
	
	 	 	 	 
	 41b. SIGNATURE AND TITLE OF CERTIFYING OFFICER
	  	41c. DATE	    	 	  	 
	 	 	 	 	

	 	  	 	    	42b. RECEIVED AT (Location)	  	 
	 	 	 	 	

				
	 	  	 	    	42c. DATE REC’D (YY/MM/DD)	  	42d. TOTAL CONTAINERS
	

	 	  	 	    	 	  	STANDARD FORM 1449 (REV. 4/2002) BACK

  

 Amendment No. 2—SF-1449 Supplemental of Back Page: 
  

													
	Item 19.	  	Item 20.	  	Item 21.	  	Item 22.	  	Item 23.	  	Item 24.
	Item No.

	  	 Schedule of Supplies

	  	Est.
Quantity

	  	 Unit

	  	Fixed Unit Price

	  	Amount

	 	  	 	  	Minimum-
Maximum

	  	 	  	 	  	 
	1.	  	Initial Award Year	  	 	  	 	  	 	 	  	 	 
	a.	  	Mouse Lines	  	20-24	  	Each	  	$	***	  	$	***
	b.	  	Change Order Charges	  	1	  	Lot	  	NTE $	***	  	NTE $	***
	 	  	 	  	 	  	Total for Initial Award Year	  	$	***
	2.	  	Option Year 1	  	 	  	 	  	 	 	  	 	 
	a.	  	Mouse Lines	  	30-36	  	Each	  	$	***	  	$	***
	b.	  	Change Order Charges	  	1	  	Lot	  	NTE $	***	  	NTE $	***
	 	  	 	  	 	  	Total for Option Year 1	  	 	 	  	$	***
	3.	  	Option Year 2	  	 	  	 	  	 	 	  	 	 
	a.	  	Mouse Lines	  	45-53	  	Each	  	$	***	  	$	***
	b.	  	Change Order Charges	  	1	  	Lot	  	NTE $	***	  	NTE $	***
	 	  	 	  	 	  	Total for Option Year 2	  	 	 	  	$	***
	4.	  	Option Year 3	  	 	  	 	  	 	 	  	 	 
	a.	  	Mouse Lines	  	45-53	  	Each	  	$	***	  	$	***
	b.	  	Change Order Charges	  	1	  	Lot	  	NTE $	***	  	NTE $	***
	 	  	 	  	 	  	Total for Option Year 3	  	 	 	  	$	***
	5.	  	Option Year 4	  	 	  	 	  	 	 	  	 	 
	a.	  	Mouse Lines	  	45-53	  	Each	  	$	***	  	$	***
	b.	  	Change Order Charges	  	1	  	Lot	  	NTE $	***	  	NTE $	***
	 	  	 	  	 	  	Total for Option Year 4	  	 	 	  	$	***
	 	  	 	  	 	  	 	  	 	Grand Total	  	$	***

  
 Note:
Add the NTE line item b. into your totals for each year and the grand total. 
  

	***	Confidential treatment requested 

 CONTRACT CLAUSES 
  
 1.    OFFERORS MUST COMPLETE AND RETURN ALL INFORMATION DESIGNATED IN 52.212-1, INSTRUCTIONS TO
OFFERORS—COMMERCIAL ITEMS, PARAGRAPH “b”, PRIOR TO THE TIME SPECIFIED IN BLOCK 8 OF SF 1449 IN ORDER TO BE CONSIDERED FOR AWARD. 
  
 2.    ACKNOWLEDGMENT OF AMENDMENTS: The offeror acknowledges receipt of Amendments to the Solicitation numbered and dated as follows:

  

			
	 AMENDMENT NO.

	  	DATE

	1	  	08/26/03
	2	  	09/10/03

  
 3.    DUNS
NUMBER: Please provide the Dun and Bradstreet Number assigned to your firm in the space provided below. 
  
 DUNS # 361145428 
  
 4.    DELIVERY OF OFFERS. Sealed offers for furnishing the supplies or services in the Schedule will be received at the address
specified in Block 9. If the offer is being handcarried or sent by courier, the following address shall be used: 
  
 National Institute of Environmental Health Sciences 
 Acquisitions Management Branch, OM 
 4505 Emperor Blvd, 2nd Floor, Suite 245 
 Durham, NC 27703 
  
 External package must have the “solicitation number” and “due date”
clearly marked. 
  
 5.    FAR 52.212-4 CONTRACT
TERMS AND CONDITIONS—COMMERCIAL ITEMS (FEB 2002) 
  
 (a)
Inspection /Acceptance. The Contractor shall only tender for acceptance those items that conform to the requirements of this contract. The Government reserves the right to inspect or test any supplies or services that have been tendered for
acceptance. The Government may require repair or replacement of nonconforming supplies or reperformance of nonconforming services at no increase in contract price. The Government must exercise its post-acceptance rights (1) within a reasonable time
after the defect was discovered or should have been discovered; and (2) before any substantial change occurs in the condition of the item, unless the change is due to the defect in the item. 
  
 (b) Assignment. The Contractor or its assignee may assign rights to
receive payment due as a result of performance of this contract to a bank, trust company, or other financing institution, 

 including any Federal lending agency in accordance with the Assignment of Claims Act (31 U.S.C. 3727). 
  
 However, when a third party makes payment (e.g. use of the Governmentwide
commercial purchase card), the Contractor may not assign its rights to receive payment under this contract. 
  
 (c) Changes. Changes in the terms and conditions of this contract may be made only by written agreement of the parties. 
  
 (d) Disputes. This contract is subject to the Contract Disputes Act of
1978, as amended (41 U.S.C. 601-613). Failure of the parties to this contract to reach agreement on any request for equitable adjustment, claim, appeal or action arising under or relating to this contract shall be a dispute to be resolved in
accordance with the clause at FAR 52.233-1, Disputes, which is incorporated herein by reference. The Contractor shall proceed diligently with performance of this contract, pending final resolution of any dispute arising under the contract.

  
 (e) Definitions. The clause at FAR 52.202-1,
Definitions, is incorporated herein by reference. 
  
 (f)
Excusable delays. The Contractor shall be liable for default unless nonperformance is caused by an occurrence beyond the reasonable control of the Contractor and without its fault or negligence such as, acts of God or the public enemy, acts
of the Government in either its sovereign or contractual capacity, fires, floods, epidemics, quarantine restrictions, strikes, unusually severe weather, and delays of common carriers. The Contractor shall notify the Contracting Officer in writing as
soon as it is reasonably possible after the commencement of any excusable delay, setting forth the full particulars in connection therewith, shall remedy such occurrence with all reasonable dispatch, and shall promptly give written notice to the
Contracting Officer of the cessation of such occurrence. 
  
 (g)
Invoice. (1) The Contractor shall submit an original invoice and three copies (or electronic invoice, if authorized), to the address designated in the contract to receive invoices. An invoice must include— 
  
 (i) Name and address of the Contractor; 
  
 (ii) Invoice date and number; 
  
 (iii) Contract number, contract line item number and, if
applicable, the order number; 
  
 (iv)
Description, quantity, unit of measure, unit price and extended price of the items delivered; 
  
 (v) Shipping number and date of shipment, including the bill of lading number and weight of shipment if shipped on Government bill of
lading; 
  
 (vi) Terms of any discount for prompt
payment offered; 

 (vii) Name and address of official to whom payment is to be sent; 
  
 (viii) Name, title, and phone number of person to notify in
event of defective invoice; and 
  
 (ix) Taxpayer
Identification Number (TIN). The Contractor shall include its TIN on the invoice only if required elsewhere in this contract. 
  
 (x) Electronic Funds transfer (EFT) banking information. 
  
 (A) The Contractor shall include EFT banking information on the invoice only if required elsewhere in this
contract. 
  
 (B) If EFT banking information is
not required to be on the invoice, in order for the invoice to be a proper invoice, the Contractor shall have submitted correct EFT banking information in accordance with the applicable solicitation provision, contract clause (e.g., 52.232-33,
Payment by Electronic Funds Transfer-Central Contractor Registration, or 52.232-34, Payment by Electronic Funds Transfer-Other Than Central Contractor Registration), or applicable agency procedures. 
  
 (C) EFT banking information is not required if the
Government waived the requirement to pay by EFT. 
  
 (2) Invoices will be handled in accordance with the Prompt Payment Act (31 U.S.C 3903) and Office of Management and Budget (OMB) prompt payment regulations at 5 CFR part 1315. 
  
 (h) Patent indemnity. The Contractor shall indemnify the Government and its officers, employees and agents against
liability, including costs, for actual or alleged direct or contributory infringement of, or inducement to infringe, any United States or foreign patent, trademark or copyright, arising out of the performance of this contract, provided the
Contractor is reasonably notified of such claims and proceedings. 
  
 (i) Payment. Payment shall be made for items accepted by the Government that have been delivered to the delivery destinations set forth in this contract. The Government will make payment in accordance with the Prompt Payment Act (31
U.S.C. 3903) and OMB prompt payment regulations at 5 CFR part 1315. If the Government makes payment by Electronic Funds Transfer (EFT), see 52.212-5(b) for the appropriate EFT clause. In connection with any discount offered for early payment, time
shall be computed from the date of the invoice. For the purpose of computing the discount earned, payment shall be considered to have been made on the date which appears on the payment check or the specified payment date if an electronic funds
transfer payment is made. 
  
 (j) Risk of loss. Unless the
contract specifically provides otherwise, risk of loss or damage to the supplies provided under this contract shall remain with the Contractor until, and shall pass to the Government upon: 
  
 (1) Delivery of the supplies to a carrier, if transportation
is f.o.b. origin; or 

 (2) Delivery of the supplies to the Government at the destination specified in the
contract, if transportation is f.o.b. destination. 
  
 (k)
Taxes. The contract price includes all applicable Federal, State, and local taxes and duties. 
  
 (l) Termination for the Government’s convenience. The Government reserves the right to terminate this contract, or any part hereof, for its
sole convenience. In the event of such termination, the Contractor shall immediately stop all work hereunder and shall immediately cause any and all of its suppliers and subcontractors to cease work. Subject to the terms of this contrast, the
Contractor shall be paid a percentage of the contract price reflecting the percentage of the work performed prior to the notice of termination, plus reasonable charges the Contractor can demonstrate to the satisfaction of the Government using its
standard record keeping system, have resulted from the termination. The Contractor shall not be required to comply with the cost accounting standards or contract cost principles for this purpose. This paragraph does not give the Government any right
to audit the Contractor’s records. The Contractor shall not be paid for any work performed or costs incurred which reasonably could have been avoided. 
  
 (m) Termination for cause. The Government may terminate this contract, or any part hereof, for cause in the event of any default by the Contractor,
or if the Contractor fails to comply with any contract terms and conditions, or fails to provide the Government, upon request, with adequate assurances of future performance. In the event of termination for cause, the Government shall not be liable
to the contractor for any amount for supplies or services not accepted, and the Contractor shall be liable to the Government for any and all rights and remedies provided by law. If it is determined that the Government improperly terminated this
contract for default, such termination shall be deemed a termination for convenience. 
  
 (n) Title. Unless specified elsewhere in this contract, title to items furnished under this contract shall pass to the Government upon acceptance, regardless of when or where the Government takes physical
possession. 
  
 (o) Warranty. The Contractor warrants and
implies that the items delivered hereunder are merchantable and fit for use for the particular purpose described in this contract. 
  
 (p) Limitation of liability. Except as otherwise provided by an express warranty, the Contractor will not be liable to the Government for
consequential damages resulting from any defect or deficiencies in accepted items. 
  
 (q) Other compliances. The Contractor shall comply with all applicable Federal, State and local laws, executive orders, rules and regulations applicable to its performance under this contract. 
  
 (r) Compliance with laws unique to Government contracts. The
Contractor agrees to comply with 31 U.S.C. 1352 relating to limitations on the use of appropriated funds to influence certain Federal contracts; 18 U.S.C. 431 relating to officials not to benefit; 40 U.S.C. 327, et seq., Contract Work Hours
and Safety Standards Act; 41 U.S.C. 51-58, Anti-Kickback Act of 1986; 

 41 U.S.C. 265 and 10 U.S.C. 2409 related to whistle blower protections; and 49 U.S.C 40118, Fly American; and 41 U.S.C.
423 relating to procurement integrity. 
  
 (a) Order of
precedence. Any inconsistencies in this solicitation or contract shall be resolved by giving precedence in the following order: (1) the schedule of supplies/services; (2) the Assignments, Disputes, Payments, Invoice, Other Compliances, and
Compliance with Laws Unique to Government Contracts paragraphs of this clause; (3) the clause at 52.212-5; (4) addenda to this solicitation or contract, including any license agreements for computer software; (5) solicitation provisions if this is a
solicitation; (6) other paragraphs of this clause; (7) the Standard Form 1449; (8) other documents, exhibits, and attachments; and (9) the specification. 
  
 (End of clause) 
  
 6.    Addendum to 52.212-4. 
  

	 	A.	52.252-2 Clauses Incorporated By Reference (FEB 1998) 

  
 This contract incorporates one or more clauses by reference, with the same force and effect as if they were given in full text. Upon request, the
Contracting Officer will make their full text available. Also, the full text of a clause may be accessed electronically at this address: http://www.arnet.gov/far 
  

	 	B.	The following clauses are incorporated by reference: 

  

			
	FAR Clause No.

	  	 Title and Date

	52.246-2	  	Inspection of Supplies—Fixed Price (AUG 1996)
	52.242-15	  	Stop Work Order (AUG 1989)
	52.242-17	  	Government Delay of Work (APR 1984)
	52.247-35	  	F.O.B. Destination, Within Consignees Premises (APR 1984)
	52.217-9	  	Option to Extend the Term of the Contract (MAR 2000)

  

	 	C.	TYPE OF CONTRACT 

  
 This is a firm, fixed-price definite delivery supply Contract with reimbursable line items, as outlined in blocks 19-24 of the SF-1449 and any
continuation pages. 
  

	 	D.	PERIOD OF PERFORMANCE 

  
 This Contract shall be effective for a one-year period beginning September 15, 2003, or from date of Contract award, whichever is later, with four (4)
optional renewal periods of one year each. 

	 	E.	PUBLICATION AND PUBLICITY 

  
 The Contractor shall acknowledge the support of the National Institutes of Health whenever publicizing the work under this contract in any media by
including an acknowledgment substantially as follows: 
  
 “This project has been funded in whole or in part with Federal funds from the National Institute of Environmental Health Sciences, National Institutes of Health, Department of Health and Human Services, under Contract No.
273-03-C-0045.” 
  
 However, publication of any information
regarding the animals order and produced as a result of this Contract is not deemed to be at the discretion of the Contractor, but at the Government’s discretion. It shall be mandatory for the Contractor to receive prior approval from the
Contracting officer before any information regarding this Contract is publicized. 
  

	 	F.	RESPONSIBLE OFFICIALS 

  

	 	1.	Contracting Officer Authority for Changes 

  
 The Contracting Officer is designated on the contract face page. Only the Contracting Officer has the authority to approve any deviations
from the specifications and terms of this contract. Undertakings and/or agreements relative to this contract must be taken up in writing with the Contracting Officer, and Matters handled otherwise will not be recognized as binding upon the
government. The contractor shall accept no instructions which deviate from the contract if issued by any person other than the Contracting Officer. 
  

	 	2.	Project Officer 

  
 a) *** is hereby designated as the Project Officer for this contract. 
  
 b) Alternate Project Officer. The name of the Project
Officer’s alternate is ***. The Alternate Project Officer has the same authority as the Project Officer, and may exercise that authority at the discretion of the Government, to the extent described below. All references to the Project Officer
throughout this contract shall be construed as applying equally to the Alternate. 
  
 c) The Government may unilaterally change its Project Officer and/or Alternate designations. 
  
 d) The Project Officer will be responsible for coordinating
with the contractor in administering the technical aspects of the contract. The project officer is not authorized to make any changes which affect the contract amount, terms, or conditions. Such changes shall be only by action of the
Contracting Officer. Services performed under this contract shall be subject to inspection and approval by the Project Officer at any time. 
  
 e) The Project Officer is specifically responsible for: 
  
 1) Monitoring the contractor’s technical progress, including the surveillance and assessment of
performance; 
  
 2) Recommending to the
Contracting Officer changes in requirements; 
  
 *** Confidential treatment
requested. 

 3) Advising the Contracting Officer of technical interpretations; 
  
 4) Performing technical evaluations as needed; 
  
 5) Performing technical inspections and acceptances required by this
contract; 
  
 6) Consulting with the contractor relative to the
resolution of technical problems encountered during performance; 
  
 7) Providing technical information to the contractor (at the option of the Government) which assists in the interpretation of drawings, specifications, or technical portions of the work description; 
  
 8) Reviewing and approving or disapproving technical reports, drawings,
specifications, technical information, etc. when the contract provides that such items will be delivered by the contractor to the Government under the contract. 
  
 f) The Project Officer cannot authorize or direct any work or actions outside the express terms and
conditions of the contract. For guidance to the contractor to be valid, it must: 
  
 1) Be consistent with the description of work set forth in this contract; 
  
 2) Not constitute new assignments of work; 
  
 3) Not constitute any change to the expressed terms, conditions, or specifications incorporated into this contract; 
  
 4) Not constitute a basis for an extension to the period of performance or
contract delivery schedule; 
  
 5) Not constitute a change as
defined in the contract clause entitled “Changes”; 
  
 6) Not constitute a basis for any increase or decrease in the contract price, or any extension or other change to the contract delivery schedules or performance periods. 
  
 g) Contractor’s Responsibility with Regard to Interaction with the Project Officer, Alternate, or other
Individuals: 
  
 Note: The following procedures shall be
applicable to directions provided during the term of this contract with the exception of directions provided by Government personnel in emergency situations. Emergency situations shall be deemed to include only those unanticipated emergency
conditions which impose a threat to the safety of individuals or have the potential for significant 

 damage to Government property if not immediately corrected. In other words, this clause shall be applied to
instructions which could be temporarily postponed and do not require immediate reaction by the contractor to insure the protection of life and/or property from extensive harm. 
  
 If, in the opinion of the contractor, any instructions, interpretations, directions, or other actions of the Project
Officer, or Alternate, or any other individual create a condition or conditions described in item f)1) through 6) above, or will create situations during the term of the contract which will fall within one of the categories defined in item f)l)
through 6) above, the contractor shall not proceed. The contractor shall immediately notify the Contracting Officer verbally, if possible, of its concerns in this regard. The verbal notification shall be followed by a written notification to the
Contracting Officer documenting the information or actions taken by the Project Officer, Alternate, or other individual, and the basis for the contractor’s opinion that those actions, instructions, directions, or interpretations will impact on
the contract terms and conditions. The written notice shall be due within five (5) working days after the receipt of the Project Officer’s actions which stimulated the concern. The Contracting Officer will gather available information, and will
determine whether or not the input actually constitutes a change or other condition prohibited by Section f)1) through 6) above. If it is determined that a change or other prohibited condition will occur, the Contracting Officer will so notify the
contractor, and either negotiate and award a formal supplemental agreement, issue a change order, or cancel the directions. If the action by the Project Officer is not determined by the Contracting Officer to be a “change” to the existing
contract’s terms and conditions, the Contracting Officer will so notify the contractor of this decision and the reasons therefore, and the contractor would be expected to immediately comply. The contractor would retain the rights provided under
the “Changes” clause of this contract in the event that proper actions, as described above, are taken to notify the Contracting Officer and obtain Contracting Officer approval before proceeding with directions from any individual that are
deemed to be questionable under Section f)1) through 6) above. 
  

	 	G.	POST AWARD EVALUATION OF CONTRACTOR PERFORMANCE 

  

	 	1.	Contractor Performance Evaluations 

  
 Interim and final evaluations of contractor performance will be prepared on this contract in accordance with FAR Subpart 42.15. A final
performance evaluation will be prepared at the time of completion of work. In addition to the final evaluation, interim evaluations will be prepared annually to coincide with the anniversary date of the contract. 
  
 Interim and final evaluations will be provided to the
contractor as soon as practicable after completion of the evaluation. The contractor will be permitted thirty days to review the document and to submit additional information or a rebutting statement. If agreement cannot be reached between the
parties, the matter will be referred to an individual one level above the Contracting Officer, whose decision will be final. 
  
 Copies of the evaluations, contractor responses, and review comments, if any, will be retained as part of the contract file, and may be
used to support future award decisions. 

	 	2.	Electronic Access to Contractor Performance Evaluations 

  
 Contractors that have Internet capability may access evaluations through a secure Web site for review and comment by completing the
registration form that can be obtained at the following address: http:/ocm.od.nih.gov/cdmp/cps_contractor.htm 
  
 The registration process requires the contractor to identify an individual that will serve as a primary contact and who will be authorized access to the
evaluation for review and comment. In addition, the contractor will be required to identify an alternate contact who will be responsible for notifying the cognizant contracting official in the event the primary contact is unavailable to process the
evaluation within the required 30-day time frame. 
  

	 	H.	NEEDLE EXCHANGE 

  
 a. Pursuant to Public Law(s) cited in paragraph b., below, contract funds shall not be used to carry out any program of distributing
sterile needles or syringes for the hypodermic injection of any illegal drug. 
  

							
	b.	  	Public Law and Section No.	  	Fiscal Year	  	Period Covered
				
	 	  	 P.L. 108-7, Div. G, Title V-
 General Provisions, Section 505
	  	2003	  	(10/1/02 – 9/30/03)

  

	 	I.	PRESS RELEASES 

  
 a. Pursuant to Public Law(s) cited in paragraph b., below, the contractor shall clearly state, when issuing statements, press releases,
requests for proposals, bid solicitations and other documents describing projects or programs funded in whole or in part with Federal money: (1) the percentage of the total costs of the program or project which will be financed with Federal money;
(2) the dollar amount of Federal funds for the project or program; and (3) the percentage and dollar amount of the total costs of the project or program that will he financed by nongovernmental sources. 
  

							
	b.	  	Public Law and Section No.	  	Fiscal Year	  	Period Covered
				
	 	  	 P.L. 108-7, Div. G, Title V-
 General Provisions, Section 507
	  	2003	  	(10/1/02 – 9/30/03)

  

	 	J.	ANTI-LOBBYING 

  
 a. Pursuant to Public Law(s) cited in paragraph c., below, contract funds shall not be used, other than for normal and recognized
executive-legislative relationships, for publicity or propaganda purposes, for the preparation, distribution, or use of any kit, pamphlet, booklet, publication, radio, television, or video presentation designed to support or defeat legislation
pending before the Congress or any State legislature, except in presentation to the Congress or any State legislature itself. 
  
 b. Contract funds shall not be used to pay salary or expenses of the contractor or any agent acting for the contractor, related to any
activity designed to influence legislation or appropriations pending before the Congress or any State legislature. 

							
	c.	  	Public Law and Section No.	  	Fiscal Year	  	Period Covered
				
	 	  	 for a., above: P.L. 108-7, Div. G,
     Title V—General Provisions,
     Section 503a
	  	2003	  	(10/1/02 – 9/30/03)
				
	 	  	 for b., above: P.L. 108-7, Div. G,
     Title V—General Provisions,
     Section 503b
	  	2003	  	(10/1/02 – 9/30/03)

  
 7.    FAR
52.212-5 Contract Terms and Conditions Required to Implement Statutes or Executive Orders- Commercial Items ( 2003) 
  
 (a) The Contractor shall comply with the following Federal Acquisition Regulation (FAR) clause, which is incorporated in this contract by reference, to
implement provisions of law or Executive orders applicable to acquisitions of commercial items: 52.233-3, Protest after Award (AUG 1996) (31 U.S.C. 3553). 
  
 (b) The Contractor shall comply with the FAR clauses in this paragraph (b) that the Contracting Officer has indicated as being incorporated in this
contract by reference to implement provisions of law or Executive orders applicable to acquisitions of commercial items or components: 
  
 x (1) 52.203-6, Restrictions on Subcontractor Sales to the Government (JUL 1995), with Alternate I (OCT 1995) (41
U.S.C. 253g and 10 U.S.C. 2402). 
  
  ̈ (2) 52.219-3, Notice of Total HUBZone Small Business Set-Aside (JAN 1999). 
  
  ̈ (3) 52.219-4,
Notice of Price Evaluation Preference for HUBZone Small Business Concerns (JAN 1999) (if the offeror elects to waive the preference, it shall so indicate in its offer). 
  
  ̈ (4)(i) 52.219-5,
Very Small Business Set-Aside (JUNE 2003) (Pub. L. 103-403, section 304, Small Business Reauthorization and Amendments Act of 1994). 
  
  ̈ (ii) Alternate I (MAR 1999) of
52.219-5. 
  
  ̈ (iii) Alternate II (JUNE 2003) of 52.219-5. 
  
  ̈ (5)(i) 52.219-6, Notice of Total Small Business
Set-Aside (JUNE 2003) (15 U.S.C. 644). 
  
  ̈ (ii) Alternate I (OCT 1995) of 52.219-6. 
  
  ̈ (6)(i) 52.219-7, Notice of Partial Small
Business Set-Aside (JUNE 2003) (15 U.S.C. 644). 
  
  ̈ (ii) Alternate I (OCT 1995) of 52.219-7. 
  
 x (7) 52.219-8, Utilization of Small Business Concerns (OCT 2000) (15 U.S.C. 637 (d)(2) and (3)). 
  
 x (8)(i) 52.219-9, Small Business
Subcontracting Plan (JAN 2002) (15 U.S.C. 637(d)(4)). 

  ̈ (ii) Alternate I (OCT 2001) of 52.219-9. 
  
  ̈ (iii) Alternate II (OCT 2001) of 52.219-9. 
  
  ̈ (9) 52.219-14,
Limitations on Subcontracting (DEC 1996) (15 U.S.C. 637(a)(14)). 
  
 x (10)(i) 52.219-23, Notice of Price Evaluation Adjustment for Small Disadvantaged Business Concerns (JUNE 2003) (Pub. L. 103-355, section 7102, and 10 U.S.C. 2323) (if the offeror elects to waive the
adjustment, it shall so indicate in its offer). 
  
  ̈ (ii) Alternate I (JUNE 2003) of 52.219-23. 
  

 ̈ (11) 52.219-25, Small Disadvantaged Business
Participation Program-Disadvantaged Status and Reporting (OCT 1999) (Pub. L. 103-355, section 7102, and 10 U.S.C. 2323). 
  
  ̈ (12) 52.219-26, Small Disadvantaged Business
Participation Program-Incentive Subcontracting (OCT 2000) (Pub. L. 103-355, section 7102, and 10 U.S.C. 2323). 
  
  ̈ (13) 52.222-3, Convict Labor (JUNE 2003) (E.O.
11755). 
  
 x (14) 52.222-19,
Child Labor-Cooperation with Authorities and Remedies (SEP 2002) (E.O. 13126). 
  
  ̈ (15) 52.222-21, Prohibition of Segregated Facilities (FEB 1999). 
  
 x (16) 52.222-26, Equal Opportunity (APR
2002) (E.O. 11246). 
  
 x (17)
52.222-35, Equal Opportunity for Special Disabled Veterans, Veterans of the Vietnam Era, and Other Eligible Veterans (DEC 2001) (38 U.S.C. 4212). 
  
 x (18) 52.222-36, Affirmative Action for Workers with Disabilities (JUN 1998) (29 U.S.C. 793). 
  
 x (19) 52.222-37, Employment Reports on
Special Disabled Veterans, Veterans of the Vietnam Era, and Other Eligible Veterans (DEC 2001) (38 U.S.C. 4212). 
  
  ̈ (20)(i) 52.223-9, Estimate of Percentage of
Recovered Material Content for EPA-Designated Products (AUG 2000) (42 U.S.C. 6962(c)(3)(A)(ii)). 
  
  ̈ (ii) Alternate I (AUG 2000) of
52.223-9 (42 U.S.C. 6962(i)(2)(C)). 
  
  ̈ (21) 52.225-1, Buy American Act-Supplies (JUNE 2003) (41 U.S.C. 10a—10d). 
  
  ̈ (22)(i) 52.225-3,
Buy American Act-North American Free Trade Agreement-Israeli Trade Act (JUNE 2003) (41 U.S.C. l0a—10d,19 U.S.C. 3301 note, 19 U.S.C. 2112 note). 
  
  ̈ (ii) Alternate I (MAY 2002) of
52.225-3. 

  ̈ (iii) Alternate Il (MAY 2002) of 52.225-3. 
  
 x (23) 52.225-5, Trade Agreements (JUNE 2003) (19 U.S.C. 2501, et seq., 19 U.S.C. 3301 note). 
  

x (24) 52.225-13, Restriction on Certain Foreign Purchases (JUN 2003) (E.O. 12722, 12724,13059 13067,13121, and
13129 
  
  ̈ (25) 52.225-15, Sanctioned European Union Country End Products (FEB 2000) (E.O. 12849). 
  
  ̈ (26) 52.225-16, Sanctioned European Union
Country Services (FEB 2000) (E.O. 12849). 
  
  ̈ (27) 52.232-29, Terms for Financing of Purchases of Commercial Items (FEB 2003) (41 U.S.C. 255(f), 10 U.S.C. 2307(f). 
  
  ̈ (28) 52.232-30, Installment Payments for Commercial Items (OCT 1995) (41 U.S.C. 255(f),10 U.S.C. 2307(f). 
  
  ̈ (29) 52.232-33, Payment by Electronic Funds
Transfer-Central Contractor Registration (MAY 1999) (31 U.S.C. 3332). 
  
 x (30) 52.232-34, Payment by Electronic Funds Transfer-Other than Central Contractor Registration (MAY 1999) (31 U.S.C. 3332). 
  
  ̈ (31) 52.232-36,
Payment by Third Party (MAY 1999) (31 U.S.C. 3332). 
  
  ̈ (32) 52.239-1, Privacy or Security Safeguards (AUG 1996) (5 U.S.C. 552a). 
  
  ̈ (28)(i) 52.247-64, Preference for Privately Owned U.S.-Flag Commercial Vessels (APR 2003) (46 U.S.C. 1241). 
  
  ̈ (ii) Alternate I (APR 1984) of
52.247-64. 
  
 (c) The Contractor shall comply with the FAR
clauses in this paragraph (c), applicable to commercial services, that the Contracting Officer has indicated as being incorporated in this contract by reference to implement provisions of law or Executive orders applicable to acquisitions of
commercial items or components: 
  
  ̈ (1) 52.222-41, Service Contract Act of 1965, As Amended (MAY 1989) (41 U.S.C. 351, et seq.). 
  
  ̈ (2) 52.222-42,
Statement of Equivalent Rates for Federal Hires (MAY 1989) (29 U.S.C. 206 and 41 U.S.C. 351, et seq.). 
  
  ̈ (3) 52.222-43, Fair Labor Standards Act and
Service Contract Act-Price Adjustment (Multiple Year and Option Contracts) (MAY F1989) (29 U.S.C. 206 and 41 U.S.C. 351, et seq.). 

  ̈ (4) 52.222-44, Fair Labor Standards Act and Service Contract Act-Price Adjustment (FEB 2002) (29 U.S.C. 206 and 41 U.S.C. 351, et seq.). 
  
  ̈ (5) 52.222-47, SCA Minimum Wages and Fringe
Benefits Applicable to Successor Contract Pursuant to Predecessor Contractor Collective Bargaining Agreement (CBA) (MAY 1989) (41 U.S.C. 351, et seq.). 
  
 (d) Comptroller General Examination of Record. The Contractor shall comply with the provisions of this paragraph (d) if this contract was awarded using
other than sealed bid, is in excess of the simplified acquisition threshold, and does not contain the clause at 52.215-2, Audit and Records-Negotiation. 
  
 (1) The Comptroller General of the United States, or an authorized representative of the Comptroller General, shall have access to and
right to examine any of the Contractor’s directly pertinent records involving transactions related to this contract. 
  
 (2) The Contractor shall make available at its offices at all reasonable times the records, materials, and other evidence for examination,
audit, or reproduction, until 3 years after final payment under this contract or for any shorter period specified in FAR Subpart 4.7, Contractor Records Retention, of the other clauses of this contract. If this contract is completely or partially
terminated, the records relating to the work terminated shall be made available for 3 years after any resulting final termination settlement. Records relating to appeals under the disputes clause or to litigation or the settlement of claims arising
under or relating to this contract shall be made available until such appeals, litigation, or claims are finally resolved. 
  
 (3) As used in this clause, records include books, documents, accounting procedures and practices, and other data, regardless of type and
regardless of form. This does not require the Contractor to create or maintain any record that the Contractor does not maintain in the ordinary course of business or pursuant to a provision of law. 
  
 (e) (1) Notwithstanding the requirements of the clauses in paragraphs (a),
(b), (c) or (d) of this clause, the Contractor is not required to include any FAR clause, other than those in paragraphs (i) through (vi) of this paragraph in a subcontract for commercial items. Unless otherwise indicated below, the extent of the
flow down shall be as required by the clause— 
  
 (i) 52.219-8, Utilization of Small Business Concerns (OCT 2000) (15 U.S.C. 637(d)(2) and (3)), in all subcontracts that offer further subcontracting opportunities. If the subcontract (except subcontracts to small business concerns) exceeds
$500,000 ($1,000,000 for construction of any public facility), the subcontractor must include 52.219-8 in lower tier subcontracts that offer subcontracting opportunities. 
  
 (ii) 52.222-26, Equal Opportunity (APR 2002) (E.O. 11246). 
  
 (iii) 52.222-35, Equal Opportunity for Special Disabled
Veterans, Veterans of the Vietnam Era, and Other Eligible Veterans (DEC 2001) (38 U.S.C. 4212). 

 (iv) 52.222-36, Affirmative Action for Workers with Disabilities (JUNE 1998) (29 U.S.C.
793). 
  
 (v) 52.222-41, Service Contract Act of
1965, As Amended (MAY 1989), flow down required for all subcontracts subject to the Service Contract Act of 1965 (41 U.S.C. 351, et seq.). 
  
 (vi) 52.247-64, Preference for Privately-Owned U.S.-Flag Commercial Vessels (APR 2003) (46 U.S.C. Appx 1241). Flow down required in
accordance with paragraph (d) of FAR clause 52.247-64. 
  
 (2) While not required, the contractor may include in its subcontracts for commercial items a minimal number of additional clauses necessary to satisfy its contractual obligations. 
  
 (End of clause) 

 Pages 2-4 of Attachments to Amendment No. 1 to RFP #273-03-P-0011 are incorporated in the following pages
16-18 of the contract regarding: 
  
 B CARE OF LIVE VERTEBRATE
ANIMALS/ANIMAL WELFARE ASSURANCE 
  
 C. RESTRICTION FROM
USE OF LIVE VERTEBRATE ANIMALS 
  
 D. HHSAR 352.270-9(a)
NOTICE TO OFFERORS OF REQUIREMENTS FOR ADEQUATE ASSURANCE OF PROTECTION OF VERTEBRATE ANIMAL SUBJECTS (SEP 1985) 
  
 E. HHSAR 352.270-9(b) CARE OF LIVE VERTEBRATE ANIMALS (JAN 2001) 
  
 F Addendum to the Statement of Work 
  
 Page 1 of Attachments to Amendment No. 2 to RFP #273-03-P-0011 is incorporated in the following page 19 of the contract
regarding: 
  
 A. MILESTONE BILLING AND PAYMENT 

 Attachment to Amendment No. 1 to RFP #273-03-P-001 
  
 B. CARE OF LIVE VERTEBRATE ANIMALS/ANIMAL WELFARE ASSURANCE 
  
 Live Vertebrate Animals will be involved in the performance of this contract
as set forth in the Statement of Work. The HHSAR Clause 352.270-9(b), Care of Living Vertebrate Animals, is therefore incorporated in this attachment to the solicitation and, thereby, the resultant contract. The contractor shall obtain, prior to the
start of any work under this contract, an approved Animal Welfare Assurance from the Office of Extramural Research (OER), Office of Laboratory Animal Welfare (OLAW), Office of the Director, NIH, as required by Section I-43-30 of the Public Health
Service Policy on Humane Care and Use of Laboratory Animals. The contractor shall maintain such assurance for the duration of this contract, and any subcontractors performing work under this contract involving the use of animals shall also obtain
and maintain an approved Animal Welfare Assurance. 
  
 Note: To
be responsive, the bidder, at the time of bid opening, must have an approved Assurance on file with the OPRR, or must be included in an approved Assurance. The bidder must provide the Assurance number below: 
  

			
	Animal Welfare Assurance Number:            A4019-01

  
 PRIOR APPROVAL FROM
OER, OLAW MUST BE OBTAINED 
  
 C. RESTRICTION FROM USE OF
LIVE VERTEBRATE ANIMALS 
  
 Under governing policy, Federal
funds administered by the Public Health Service (PHS) shall not be expended for research involving live vertebrate animals without prior approval by the Office of Laboratory Animal Welfare (OLAW) of an Assurance to comply with the PHS Policy on
Humane Care and Use of Laboratory Animals. This restriction applies to all performance sites (e.g. collaborating institutions, subcontractors, subgrantees) without OLA-approved assurances, whether domestic or foreign. 
  
 D. HHSAR 352.270-9(a) NOTICE TO OFFERORS OF REQUIREMENTS FOR ADEQUATE
ASSURANCE OF PROTECTION OF VERTEBRATE ANIMAL SUBJECTS (SEP 1985) 
  
 The PHS Policy on Humane Care and Use of Laboratory Animals by Awardee Institutions establishes a number of requirements for research activities involving animals. Before award may be made to an applicant organization, the organization
shall file, with the Office for Protection from Research Risks (OPRR), National Institutes of Health (NIH), a written Animal Welfare Assurance which commits the organization to comply with the provisions of the PHS Policy on Humane Care and Use of
Laboratory Animals by Awardee Institutions, the Animal Welfare Act, and the Guide for the Care and Use of Laboratory Animals prepared by the Institute of Laboratory Animals Resources. In accordance with the PHS Policy on Humane Care and Use of
Laboratory Animals by Awardee Institutions, applicant organizations must establish a committee, qualified through the experience and expertise of its members, to oversee the institution animal program, facilities and procedures. 

 No award involving the use of animals shall be made unless the Animal Welfare Assurance has been approved by OPRR. Prior
to award, the Contracting Officer will notify contractor(s) selected for projects that involve live vertebrate animals that an Animal Welfare Assurance is required. The Contracting Officer will request that OPRR negotiate an acceptable Animal
Welfare Assurance with those contractor(s). For further information, OPRR may be contacted at NIH, Bethesda, Maryland 20892 (301-496-7041). 
  
 E. HHSAR 352.270-9(b) CARE OF LIVE VERTEBRATE ANIMALS (JAN 2001) 
  
 (a) Before undertaking performance of any contract involving animals related activities, the contractor
shall register with the Secretary of Agriculture of the United States in accordance with 7 U.S.C. 2316 and 9 CFR Sections 2.25 through 2.28. The contractor shall furnish evidence of the registration to the Contracting Officer.* 
  
 (b) The contractor shall acquire vertebrate animals used in research from a dealer licensed by the Secretary of Agriculture under 7 U.S.C.
2133 and 9 CFR Sections 2.1-2.11, or from a source that is exempt from licensing under those sections. 
  
 (c) The contractor agrees that the care and use of any live vertebrate animals used or intended for use in performance of this contract
will conform with the PHS Policy on Humane Care and Use of Laboratory Animals, the current Animal Welfare Assurance, the Guide for the Care and Use of Laboratory Animals prepared by the Institute of Laboratory Animal Resources and the
pertinent laws and regulations of the United States Department of Agriculture (see 7 U.S.C. 2131 et seq and 9 CFR Subchapter A, Parts 1-4). In case of conflict between standards, the more stringent standard shall be used. 

 
 (d) If at any time during performance of this contract,
the Contracting Officer determines, in consultation with the Office for Protection from Research Risks (OPRR), National Institutes of Health (NIH), that the contractor is not in compliance with any of the requirements and/or standards stated in
paragraphs (a) through (c) above, the Contracting Officer may immediately suspend, in whole or in part, work and further payments under this contract until the contractor corrects the noncompliance. Notice of the suspension may be communicated by
telephone and confirmed in writing. If the contractor fails to complete corrective action within the period of time designated in the Contracting Officer’s written notice of suspension, the Contracting Officer may, in consultation with OPRR,
NIH, terminate this contract in whole or in part, and the contractor’s name may be removed from the list of those contractors with approved PHS Animal Welfare Assurances. 
  
 Note—The contractor may request registration of its facility and a current listing of licensed
dealers from the Regional Office of the Animal and Plant Health Inspection Service (APHIS), USDA, for the region in which its research facility is located. The location of the appropriate APHIS Regional Office, as well as information concerning this
program may be 
  

	*	At NIH, these registrations are submitted to the Office for Protection from Research Risks. 

 obtained by contacting the Animal Care Staff, USDA/APHIS, 4700 River Road, Riverdale, Maryland 20737.

  
 (End of clause) 
  
 F. Addendum to the Statement of Work 
  
 The contractor shall maintain the mouse line(s) until its safe arrival
through the National Institute of Environmental Health Sciences quarantine and admission into the Vivarium. A line shall be accompanied by four key documents: 
  

(1) Documented diagnostic data and reagents to allow demonstration of CRE successful removal of loxP site in that line. 
  
 (2) Documented health assurance form. 
  
 (3) Documented genotype data. 
  
 (4) Documented proof of sexual function in the form of
either report of conceptuses or vaginal plugs in receptive females. 

 Attachment to Amendment No. 2 to RFP #273-03-P-001 
  
 A. MILESTONE BILLING AND PAYMENT 
  
 Because of the nature of this procurement, the solicitation defines the desired endpoint as a successful mouse line. The
Government is willing to pay a large percentage for ‘non-creation’ of the desired hemizygous floxed mice lines. Specific milestone payments are warranted to the extent that the offeror provides guidelines if specific targetings are stopped
early at the behest of the Government. In order to do this, the Performance-Based Payments is being incorporated into the Contract. The contractor and the Project Officer shall comply with the procedures outlined in the specified Billing/Payment
Instructions for NIEHS which are referenced in the solicitation and, except regarding the frequency of the invoice and payment schedule wherein the Performance-Based Payments instructions shall regulate the invoice and payment schedule as outlined
below. 
  
 The Performance-Based Payments Clause outlined in FAR
32.10 permits the Contractor and Contracting Officer to set a schedule of payments based on events or performance criterion with a defined percentage or dollar value of the entire contract attached to each event or criterion. Therefore, under this
Contract, the Contractor will submit a request for performance-based payment on the following scheduled events and percentages of payment to be requested: 
  

			
	Event Toward Delivery of Mouse Line(s)	 	Percentage of Contract Value of Each Mouse Line
		
	 (1)    Molecular Biology: Steps from initiation to CRE transformation.
	 	 
		
	 (2)    Mouse Embryology: Steps leading to generation of live chimera mice.
	 	 
		
	 (3)    Mouse Genetics: Steps leading to generation of heterozygous floxed male mice.
	 	 
		
	Event of Termination of Mouse Line(s)	 	Percentage of Contract Value of Mouse Line at Termination
		
	 (1)    Vector Construction Completed
	 	 
		
	 (2)    ES Cell Selection
	 	 
		
	 (3)    Chimeric Animals Produced
	 	 
		
	 (4)    Heterozygotes Produced
	 	100%

  

 CONTRACT DOCUMENTS, EXHIBITS OR ATTACHMENTS 
  

	1.	The following document is incorporated by reference in this contract: 

  
 Offeror Representations and Certifications—Commercial Items, contractor dated August 1, 2003. 
  

	2.	The documents listed below are incorporated in and made a part of this contract: 

  
 a. Billing/Payment Instructions for NIEHS Fixed-Price Definite Delivery Supply Contracts, (AT-4) (Rev. 07103), 3 pages.

  
 b. Standard Form LLL, Disclosure of Lobbying Activities and
Instructions, 3 pages, undated [applicable where award value exceeds $100,000] 
  
 c. Statement of Work (July 21, 2003), 3 pages. 
  
 d. Subcontracting Plan 
  

 Attachment 2.a. 
  
 BILLING/PAYMENT INSTRUCTIONS FOR FIXED-PRICE 
 DEFINITE DELIVERY CONTRACTS FOR SUPPLIES FOR THE NIEHS 
  
 A.
General Instructions 
  
 1. General The Contractor
shall submit vouchers or invoices as prescribed herein to meet the requirements of a “proper” invoice pursuant to OMB Circular A-125. 
  
 2. Format Standard Form-1034, Public Voucher for Purchases or Services Other Than Personal, and Standard Form-1035, Public Voucher for Purchases or
Services Other Than Personal-Continuation Sheet, or reproduced copies of such forms marked ORIGINAL should be used to submit claims for reimbursement. In lieu of SF-1034 and SF-1035, claims may be submitted on Form HHS-646, Financial Report
of Individual Project/Contract, or on the payee’s letterhead or self-designed form provided that it contains the necessary information. 
  
 3. Frequency Vouchers or invoices shall be submitted on a monthly basis (to be determined by the Project Officer in accordance with the
schedule in the Statement of Work). Payment will be made by Electronic Funds Transfer. 
  
 4. Voucher or Invoice Submission An original and three (3) copies of the voucher or invoice shall be concurrently submitted as indicated below: 
  
 Paying Office [Submit original copy]: 
  
 National Institutes of Health 
 Division of Financial Management 
 Commercial Accounts Section 
 Building 31, Room BIB39 
 9000 Rockville Pike

 Bethesda, MD 20892 
  
 Contracting Office [(Submit three (3) copies]: 
  
 Invoice Processing (NH-02) 
 Acquisitions
Management Branch 
 National Institute of Environmental Health Sciences 
 P.O. Box 12874 
 Research Triangle Park, NC
27709 
  
 Inquiries regarding payment of vouchers or invoices
should be directed to: 
  
 Chief, Commercial Accounts Section,
DFM 
 Telephone: (301) 496-1418 

 BILLING/PAYMENT INSTRUCTIONS FOR FIXED-PRICE 
 DEFINITE DELIVERY CONTRACTS FOR SUPPLIES—Continued 
  
 5. Preparation and Itemization of the Voucher or Invoice The voucher or invoice shall be prepared in ink or typewriter without strikeovers and
corrections or erasures must be initialed by the person preparing the invoice. Vouchers or invoices shall include the following. 
  
 a. Paying Office and Address. (same as in paragraph 4. above) 
  
 b. Invoice Number 
  

c. Date of Invoice (Date it is prepared.) 
  
 d. Contract Number and Date (Contract Number and the Date of the Contract) 
  
 e. Shipping and Payment Terms 
  
 f. Other Substantiating Documentation or Information as Required by this Contract 
  
 g. Payee’s Name and Address. Show the Contractor’s
name (as it appears in the Contract), correct address, and the title and telephone number of the responsible official to whom payment is to be sent. When an approved assignment has been made by the Contractor, or a different payee has been
designated, then insert the name and address of the payee instead of the Contractor. 
  
 h. Description of Goods or Services, Quantity, Unit Price, and Total Amount 
  
 Charges for Freight or Express Shipments Other Than F.O.B. Destination. (If shipped by freight or express
and charges are more than $25.00, attach a prepaid bill.) 
  
 j. Equipment. If there is a Contract clause authorizing the purchase of any item of equipment, the final invoice must contain a statement indicating that no item of equipment was purchased, or include a completed Form
HHS-565, Report of Capitalized Nonexpendable Equipment. 
  
 k. If Final voucher or invoice, mark “FINAL.” The completion/final invoice is a final invoice which is submitted promptly upon completion of the work, but no later than one year from the contract
completion date. 
  
 B. Government Procedure 
  
 1. The Project Officer shall complete and sign Form NIH-2345, Report
of Rental Equipment and Services Received (or similar form/memorandum) and forward the original to NIEHS Procurement Support promptly at the conclusion of each payment period. A copy of the completed form should be retained by the Project Officer. A
similar form to the NIH-2345 can be 

 BILLING/PAYMENT INSTRUCTIONS FOR FIXED-PRICE 
 DEFINITE DELIVERY CONTRACTS FOR SUPPLIES—Continued 
  
 drafted by the Project Officer and approved by the Contracting Officer before it’s use under the contract. 
  
 2. NIEHS Procurement Support shall make sure that the receiving
information on Form NIH-2345 (or similar form/memo) is promptly entered into the Material Management System (MMS). 
  
 3. Commercial Accounts Section, -DFM, NIH, shall make payments against vouchers or invoices which match obligation, affd receiving information in
MMS. 
  
 C. Currency 
  
 All NIH contracts are expressed in United States dollars. Where expenditures
are made in a currency other than United States dollars, billings on the contract shall be expressed, and reimbursement by the United States Government shall be made, in that other currency at amounts coincident with actual costs incurred. Currency
fluctuations may not be a basis of gain or loss to the contractor. Notwithstanding the above, the total of all invoices paid under this contract may not exceed the United States dollars authorized. 
  
 D. Discounts 
  
 In all cases where discounts are offered, coordination with the fiscal office is necessary. If such discount is deemed
economically justified by the fiscal office, the review and approval process by the project officer and contracting officer shall be accelerated to take advantage of such discount. 
  
 E. HHSAR Billing/Payment Provision 
  
 The HHSAR provision, which follows, is applicable to this contract and these NIEHS Billing/Payment Instructions: 
  
 HHSAR 352.232-9: WITH HOLDING OF CONTRACT PAYMENTS (APR 1984) 
  
 Notwithstanding any other payment provisions of this contract, failure of the
Contractor to submit required reports when due or failure to perform or deliver required work, supplies, or services, will result in the withholding of payments under this contract unless such failure arises out of causes beyond the control, and
without the fault or negligence of the Contractor as defined by the clause entitled “Excusable Delays” or “Default,” as applicable. The Government shall promptly notify the Contractor of its intention to withhold payment of any
invoice or voucher submitted. 

 Attachment 2.b. 
  
 DISCLOSURE OF LOBBYING ACTIVITIES 
  
 Approved by OMB 
 0348-0046

  
 Complete this form to disclose lobbying activities pursuant
to 31 U.S.C. 1352 
 (See reverse for public burden disclosure.) 
  

					
	 1.      Type of Federal Action:
	 	 2.      Status of Federal Action:
	 	 3.      Report Type:

	 a.      contract
 b.      grant
 c.      cooperative agreement
 d.      loan
 e.      loan guarantee
 f.       loan insurance
	 	 a.      bid/offer/application
 b.      Initial award
 c.      post-award
	 	 a.      initial filing
 b.      material change
 For   Material Change Only:
 year ______ quarter_______ date of last report

			
		
	 4.      Name and Address of Reporting Entity:
	 	 5.      If Reporting Entity in No. 4 is Subawards, Enter Name and Address of Prime

		
	          ̈  Prime                 ̈  Subawardee Tier _____, if known:
  
         Congressional District, if known:
	 	        Congressional District, if known:
		
	 6.      Federal Department/Agency:
	 	 7.      Federal Program Name/Description
          CFDA Number, if applicable:

		
	 8.      Federal Action Number, if known:
	 	 9.     Award Amount, if known:
         $

		
	 10.    a.  Name and Address of Lobbying Entity (if individual, last name, first name, MI):
	 	 b.      Individual Performing Services (including address if different from No. 10a) (last name, first name,
MI)

		
	(attach Continuation Sheet(s)	 	 SF-LLL-A, if necessary)

		
	 11.    Amount of Payment (check all that apply):
  
          $_________             ̈  actual             ̈  planned
  
  
  
 12.    Form of Payment (check all that apply):
  
  ̈        a. cash
  ̈        b. in-kind; specify:             nature ________
                           value__________
	 	 13.    Type of Payment (check all that apply):
  
  ̈        a.    retainer
  
  ̈        b.    one-time fee
  
  ̈        c.    commission
  
  ̈        d.    contingent fee
  
  ̈        e.    deferred
  
  ̈        f.    other; specify: _____________________

	
	 14.    Brief Description of Services Performed or to be Performed and
Date(s) of Service, including officer(s), employee(s), or Member(s) contacted, for payment indicated in Item 11:
  
 (attach Continuation Sheet(s) SF-LLL-A, if necessary)

	
	 15.    Continuation Sheet(s) SF-LLL-A
attached:                Yes                No

		
	 16.    Information requested through this form is authorized by title 31 U.S.C. Section 1352. This disclosure of lobbying
activities is a material representation of fact upon which reliance was placed by the tier above when this transaction was made or entered into. This disclosure is required pursuant to 31 U.S.C. 1352. This information will be reported to the
Congress semi-annually and will be available for public inspection. Any person who fails to file the required disclosure shall be subject to a civil penalty of not less than $10,000 and not more than $100,000 for each failure.
	 	 Signature: _______________________________
  
 Print
 Name: ______________________________
  
 Title: _______________________________
 Telephone
 No.:__________________ Date:__________
  

		
	 	 	Authorized for Local Reproduction Standard Form—LLL

 Attachment 2.b. 
  
 DISCLOSURE OF LOBBYING ACTIVITIES 
 CONTINUATION
SHEET 
  
 Approved by OMB 
 0348-0046 
  

					
	 	  	 	  	 
		
	Reporting Entity: ________________________________________________________	  	Page             of             

  
 Authorized for Local
Reproduction 
 Standard Form—LLL-A 

 Attachment 2.b. 
  
 INSTRUCTIONS FOR COMPLETION OF SF-LLL, DISCLOSURE OF LOBBYING ACTIVITIES 
  
 This disclosure form shall be completed by the reporting entity, whether subawardee of prime Federal recipient, at the initiation or receipt
of a covered Federal action, or a material change to a previous filing, pursuant to title 31 U.S.C. section 1352. The filing of a form is required for each payment or agreement to make payment to any lobbying entity for influencing of attempting to
influence an officer or employee of any agency, a Member o£ Congress, an officer or employee of Congress, or an employee of a member of Congress in connection with a covered Federal action. Use the SF-LLL-A Continuation Sheet for additional
information if the space on the form is inadequate. Complete all items that apply for both the initial filing and material change report. Refer to the implementing guidance published by the Office of Management and Budget for additional information.

  

	1.	Identify the type of covered Federal action for which lobbying activity is and/or has been secured to influence the outcome of a covered Federal action. 

  

	2.	Identify the status of the covered Federal action. 

  

	3.	Identify the appropriate classification of this report. If this is a follow-up report caused by a material change to the information previously reported, enter the year and quarter
in which the change occurred. Enter the date of the last previously submitted report by this reporting entity for this covered Federal action. 

  

	4.	Enter the full name, address, city, state and zip code of the reporting entity. Include Congressional District, if known. Check the appropriate classification of the reporting
entity that designates if it is, or expects to be, a prime or subaward recipient. Identify the tier of the subawardee, e.g., the first subawardee of the prime is the lot tier. Subawards include but are not limited to subcontracts, subgrants and
contract awards under grants. 

  

	5.	If the organization filing the report in item 4 checks “Subawardee,” then enter the full name, address, city, state and zip code of the prime Federal recipient. Include
Congressional District, if known. 

  

	6.	Enter the name of the Federal agency making the award or loan commitment. Include at least one organizational level below agency name, if known. For example, Department of
Transportation, United States Coast Guard. 

  

	7.	Enter the Federal program name or description for the covered Federal action (item 1). If known, enter the full Catalog of Federal Domestic Assistance (CFDA) number for grants,
cooperative agreements, loans, and loan commitments. 

  

	8.	Enter the most appropriate Federal identifying number available for the Federal action identified in item 1 (e.g., Request for Proposal (RFP) number, Invitation for Bid (IFB)
number, grant announcement number, the contract, grant, or loan award number, the application/proposal control number assigned by the Federal agency). Include prefixes, e.g., “RFP-DE-90-001.” 

  

	9.	For a covered Federal action where there has been an award or loan commitment by the Federal agency, enter the Federal amount of the award/loan commitment for the prime entity
identified in item 4 or 5. 

  

	10.	(a) Enter the full name, address, city, state and zip code of the lobbying entity engaged by the reporting entity identified in item 4 to influence the covered Federal action.

  

	 	(b)	Enter the full names of the individual (a) performing services, and include full address if different from 10(a); Enter Last Name, First Name, and Middle Initial (MI).

  

	11.	Enter the amount of compensation paid or reasonably expected to be paid by the reporting entity (item 4) to the lobbying entity (item 10). Indicate whether the payment has been made
(actual) or will be made (planned). Check all boxes that apply. If this is a material charge report, enter the cumulative amount of payment made or planned to be made. 

  

	12.	Check the appropriate box(es). Check all boxes that apply. If payment is made through an in-kind contribution, specify the nature and value of the in-kind payment.

  

	13.	Check the appropriate box(es). Check all boxes that apply. If other, specify nature. 

  

	14.	Provide a specific and detailed description of the services that the lobbyist has performed, or will be expected to perform, and the date(s) of any services rendered. Include all
preparatory and related activity, not just time spent in actual contact with Federal officials. Identify the Federal official(s) or employee(s) contacted or the officer(s), employee(s), or member(s) of Congress that were contacted.

  

	15.	Check whether or not a SP-LLL-A Continuation Sheet(s) is attached. 

  

	16.	The certifying official shall sign and date the form, print his/her name, title and telephone number. 

  
 Public reporting burden for this collection of information is estimated to average 30 minutes per response, including time
for reviewing instructions, searching existing data sources, gathering and maintaining the data needed, and completing and reviewing the collection of information. Send comments regarding the burden estimate or any other aspect of this collection of
information, including suggestions for reducing this burden, to the office of Management and Budget, Paperwork Reduction Project (0348 0046) Washington D.C. 20503. 
  

 Attachment 2.c. 
  
 Statement of Work (July 21, 2003) 
  
 Introduction 
  
 The laboratory mouse is a necessary-research model organism because of the fact that all members of a give strain can possess nearly identical genes. This
feature makes interpretation of environmental influences (such as pesticides, toxins, heavy metals) more easily detected and studied. The understanding of the genetic makeup of the mouse also allows for creation of specific mouse lines that lack
specific genes, thereby allowing investigators to test for the role of those genes in a particular process or biochemical pathway. Such gene-defective, customized mouse lines are known colloquially in the field as “knock-out mice” because
through use of detailed recombinant DNA methods, any desired mouse gene can be systematically deleted (i.e., “knocked out”) from the chromosomes of that mouse and all of its progeny. 
  
 Because the knockout techniques involve inherited gene alterations,
traditional knockout lines have led to strains of mice in which the genes are congenitally deleted, that is, gone from the time of conception onward throughout life. This methodology, now over 15 years old, is a particularly powerful research tool
for studying human genetic defect diseases such as “inborn errors of metabolism.” But the method suffers from two principal drawbacks. First, extremely severe gene defects may not be compatible with sustaining of life, and hence no viable
mouse line can be developed bearing that gene defect. Secondly, because the gene is congenitally defective, the organism does not undergo normal development. Biochemical pathways and anatomical features of the normal adult may be absent or aberrant,
thereby making the strain less than desirable as a model organism for an adult condition. 
  
 Recent advances in molecular biology now allow for creation of an elegant type of new mouse knockout, called “conditional knockouts” These animals can bear a gene knockout that occurs only in specific
tissues, and/or only at specific times in the animal’s life. This variant of the original knockout technology involves use of two separate mouse lines, one in which the gene to be knocked out is has been altered to contain at its boundaries two
foreign DNA sequences called “Lox P sites”. These sites define to points in the gene at which a deletion (knockout) is desired. A gene that has been targeted with Lox P sites is said to be “Floxed.” 
  
 A second component of this method requires the participation of a second
mouse strain, one in which a foreign gene encoding an enzyme called “CRE Recombinase” has been introduced: This enzyme has the unique ability to digest Lox P elements in DNA, thereby inactivating the Floxed gene. If the foreign CRE gene is
expressed in only certain tissues in the mouse, or at only certain times of development, or only when a particular drug is given, the knocking-out of the Floxed gene can occur in a specific, pre-ordained way. Mouse strains that have
“floxed” genes are perfectly normal until the CRE acts. Thus, for instance, adult-disease models, or acute liver-damage models can be created. These animal models are critical for next-generation genetic understanding of environmental
influences upon human health. 
  

 The Institute’s scientists in the Division of Intramural Research have identified a set of mouse
genes for which conditional knockout mouse lines will be especially valuable and critical to their carrying out the mission of the Institute. For this reason, the Scientific Director supports the initiative to obtain mouse lines bearing Floxed
genes. Technology at NIEHS does not provide for this methodology in-house. Rather, commercial sources are set up to carry out the necessary steps for molecular biology, mouse embryology, and animal husbandry. 
  
 Scope of Work 
  
 The Contractor shall prepare mouse lines bearing Floxed genes. A prioritized
list of 25 to 40 genes has been prepared, representing a broad opportunity for all Institute scientific groups to access this technology. 
  
 The Contractor shall initiate development of a minimum of 20 mouse lines in the first year. Delivery rates shall be targeted at a minimum of five
completed lines before the renewal option deadline in the fourth quarter, and continue at a sustained similar rate of delivery throughout the contract period and extensions. The Contractor shall carry out the following steps: 
  
 1. Prepare all necessary DNA vectors needed for Floxing specific mouse genes,
in consultation with Institute scientists. 
  
 2. Lox P elements
will be inserted into specific loci of mouse genes as defined in consultation with Institute scientists. Following the contractor’s own protocols, founder male mice will be derived that provide founder animals demonstrating germline
transmission of said Floxed genes. The chosen methodology shall be of such a nature that no selection cassette is left behind. 
  
 3. The Contractor shall also provide suitable hybridization probe descriptions and representative examples to allow the NIEHS users to confirm
satisfactory gene deletion following CRE recombinase activation in the offspring mice derived from breeding the founder males with females bearing CRE recombinase. 
  
 4. Finally, the founder animals shall be suitably free of pathogens to allow direct entry into the NIEHS Vivarium without
need for re-derivation of the lines. Only mouse lines acceptable to NIEHS Vivarium shall be considered as deliverables. Mouse lines shall be prepared in a constant genetic background, to be defined by the Project Director in consultation with the
Contractor. 
  
 5. In the event that Contractor proposes to use
mouse lines of a proprietary nature, or its own variant lines not available as wild-type animals from other commercial sources, then Contractor shall provide founder lines of wild-type animals of the same genetic background to be used as gene-normal
controls in subsequent experiments. 
  
 6. Institute scientists
may, at the option of the Project Officer, re-prioritize or substitute genes into the work queue, up to the point at which the Contractor’ work on that specific gene has begun. Such work initiation shall mean any designing of primers, or
subsequent laboratory steps. 

 The compensation to the Contractor for this change is to be charged under the line item “Change Order Charges”
at the set price negotiated with the contractor. 
  
 7. The
Government Project Director may also require that work on a specific gene be terminated or re-prioritized after that gene’s project has begun. Such a termination shall be charged at a time-and-amount basis to be negotiated but shall be less
than the cost of a completed knockout line. The compensation to the Contractor for this change is to be charged under the line item “Change Order Charges” at the set price negotiated with the contractor. 
  
 8. The Contractor may, at its option, request to retain commercial rights to
sell founder animals derived from the NIEHS gene targeting project. Agreement to grant these rights shall be a part of the contract process and is not explicitly nor implicitly granted. 
  
 9. The NIEHS will have complete freedom to utilize the knockout lines for any public scientific purpose, and will have
complete freedom to publish findings based upon these animals without conditions. Similarly, NIEHS will have complete freedom to distribute these mouse lines and/or any cells, tissues of other derivatives thereof, to any noncommercial scientific
entity. 
  
 10. The Contractor shall initiate work on no less than
five prioritized genes per quarter, staging the work in sequence such that no less than 20 of the genes shall have been initiated at the primer-construction stage by the end of the fist year. No less than five completed Floxed mouse lines shall be
delivered by the end of the first year. Delivery of subsequent groups of five mouse lines shall proceed in succeeding quarters. 
  
 Confidential Treatment of Sensitive Information 
  
 The Contractor shall guarantee strict confidentiality of the information/data that it is provided by the Government during
the performance of the contract. The Government has determined that the information/data that the Contractor will be provided during the performance of the contract is of a sensitive nature. 
  
 Disclosure of the information/data, in whole or in part, by the Contractor
can only be made after the Contractor receives prior written approval from the Contracting Officer. Whenever the Contractor is uncertain with regard to the proper handling of information/data under the contract, the Contractor shall obtain a written
determination from the Contracting Officer. 
  
 Prioritization of Floxed Mouse Lines 
  
 All work
requirements, i.e., prioritization of work, cancellation of work, re-prioritization of work, shall flow only from the Project Officer or in his absence from the Alternate Project Officer to the Contractor personnel. 
  

 Delivery to NIEHS 
  
 The delivery address of the National Institute of Environmental Health Sciences is: 
  
 National Institute of Environmental Health Sciences 
 111 T.W. Alexander Drive 
 Research Triangle
Park, NC 27709. 

 Attachment 2.d. 
  
 SMALL BUSINESS SUBCONTRACTING PLAN 
  
 DATE OF PLAN: September 12, 2003 
  

			
	 CONTRACTOR:
	  	 Xenogen Biosciences

  

			
	 ADDRESS:
	  	 5 Cedar Brook Drive Cranbury, NJ 08512

  

			
	 DUNN & BRADSTREET NUMBER:
	  	 361145428

  

			
	 CCR NUMBER:
	  	 N/A

  

			
	 SOLICITATION OR CONTRACT NUMBER:
	  	 RFP 273-03-P-0011

  

			
	 ITEM/SERVICE (Description):
	  	 Generation of conditional knockout mouse lines bearing floxed genes

  

					
	TOTAL CONTRACT AMOUNT:	 	     ***

	 	 ***

	 	 	    Total contract or Base-Year,
    if options	 	Option #1 (if applicable)
	 ***

	 	     ***

	 	 ***

	Option #2 (if applicable)	 	    Option #3 (if applicable)	 	Option #4 (if applicable)

  

			
	 TOTAL MODIFICATION AMOUNT, IF APPLICABLE
	  	 $N/A

	 TOTAL TASK ORDER AMOUNT, IF APPLICABLE
	  	 $N/A

  
 PERIOD OF CONTRACT PERFORMANCE (Month,
Day & Year): 9/15/03 - 9/14/04 (plus options for 4 additional 1 year extensions) 
  

	1.	Type of Plan 

  
 x Individual plan (all elements developed specifically for this contract and applicable for the full term of this contract). 
  
  ̈ Master plan (goals developed for this contract) all other elements standardized and approved by a lead agency Federal Official; must be renewed every three years and contractor must provide copy of lead
agency approval. 
  
  ̈ Commercial products/service plan This plan is used when the contractor sells products and services customarily used for non-government purposes. Plan/goals are
negotiated with the initial agency on a company-wide basis rather than for individual contracts. The plan is effective only during the year approved. The contractor must provide a copy of the initial agency approval, and must submit an annual SF 295
to HHS with a breakout of subcontracting prorated for HHS (with an OPDIV breakdown, if possible). 
  

	2.	Goals 

  
 State separate dollar and percentage goals for Small Business (SB), Small Disadvantaged Business (SDB); Woman-owned Small Business (WOSB), Historically Underutilized Business Zone (HUBZone), Small Business,
Veteran-owned Small Business (VOSB), Service-Disabled Veteran-owned Small Business (SDVOSB) and “Other than small business” (Other) as subcontractors, for the base year and each option year, as specified in FAR 19.704. (Break out and
append option year goals, if the contract contains option years or project annual subcontracting base and goals under commercial plans.) 
  

	***	Confident treatment requested 

  

 *** 
  

	***	Confidential treatment requested 

  

	 	i.	Provide a description of ALL the products and/or services to be subcontracted under this contract, and indicate the size and type of business supplying them (check all that apply).

  

															
	 Product/Service

	  	Other

	  	SB

	  	SDB

	  	WOSB

	  	HUBZone

	  	VOSB

	  	SDVOSB

	 DNA sequencing
	  	 	  	X	  	X	  	X	  	 	  	 	  	 
	 Chromosome karyotyping
	  	 	  	X	  	X	  	X	  	 	  	 	  	 
	 Live animal shipping
	  	X	  	 	  	 	  	 	  	 	  	 	  	 

  

	 	j.	Provide a description of the method used to develop the subcontracting goals for SB, SDB, WOSB, HUBZone, and VOSB concerns. Address efforts made to ensure that maximum practicable
subcontracting opportunities have been made available for those concerns and explain the method used to identify potential sources for solicitation purposes. Explain the method and state the quantitative basis (in dollars) used to establish the
percentage goals. Also, explain how the areas to be subcontracted to SB, SDB, WOSB, HUBZone, VOSB, and SDVOSB concerns were determined, how the capabilities of these concerns were considered for contract opportunities and how such data comports with
the cost proposal. Identify any source lists or other resources used in the determination process. 

  
 Xenogen Biosciences does not anticipate extensive subcontracting opportunities will be available that are specific to this contract.
Contract-specific goods/services that Xenogen Biosciences intends to subcontract specific for this effort are DNA sequencing, chromosome karyotyping, and live animal transport of the deliverable mice. All other efforts are anticipated to utilize
in-house resources or else draw upon supplies that are acquired on a company-wide basis for all other commercial and internal projects. However, services that Xenogen Biosciences has traditionally outsourced are available for subcontract to SB, SDB,
WOSB, HUBZone, and VOSB concerns. Although some of these are highly specialized and technical services, Xenogen Biosciences fortunately has already identified, and previously used, two concerns for those services that qualify as both WOSB and SDB
concerns. 
  

	 	k.	Indirect costs have not been included in the dollar and percentage subcontracting goals above. 

  
 3. Program Administrator 
  
 NAME/TITLE: Mr. Peter Grim 
  
 ADDRESS: 5 Cedar Brook Drive, Cranbury, NJ 08512 
  

TELEPHONE/E-MAIL: 609-235-1465/peter.grim@xenogeny.com 
  
 Duties: Does the individual named above have general overall responsibility for the company’s subcontracting program, i.e.,
developing, preparing, and executing subcontracting plans and monitoring performance relative to the requirements of those subcontracting plans and perform the following duties?  ̈ yes x no 
  
 As a small business concern itself, and one that is engaged in selling products and services for primarily non-government customers, Xenogen
Biosciences does not have a specific company-wide subcontracting program for SB, 
  

 SDB, WOSB, HUBZone, VOSB, and SDVOSB concerns. However, as discussed in this plan, Xenogen Biosciences will implement
efforts to award contract-specific, outsourced services to such concerns. In so doing, Mr. Grim will endeavor to develop and maintain source lists of suitable SB, SDB, WOSB, HUBZone, VOSB and SDVOSB concerns. Mr. Grim will also work with the senior
purchaser of our parent company, Xenogen Corporation, to identify and maintain lists of such concerns. To the extent possible, Mr. Grim will assess whether there are SB, SDB, WOSB, HUBZone, VOSB, and SDVOSB bidding contracting opportunities for
other goods and services that are acquired on a company-wide basis. Finally, working in conjunction with our finance department, Mr. Grim will monitor the company’s subcontracting program performance and make adjustments to achieve the
subcontract plan goals. Mr. Grim will be responsible for preparing required subcontract reports and for coordinating the company’s activities during any Federal agency compliance reviews. 
  

	4.	Equitable Opportunity 

  
 Xenogen Biosciences will endeavor to continue to include small business concerns in its outsourcing/subcontracting efforts. Xenogen Biosciences intends to
use its (and its parent corporation’s) membership in business development and trade organizations to provide those opportunities for small business concerns, as well as seeking sources from the Small Business Administration’s (SBA) PRO-Net
and SUB-Net Systems, and the NIH e-portals in Commerce. Xenogen Biosciences will monitor the status and success, of these efforts throughout the period of performance. 
  
 5. Flow Down Clause 
  
 Xenogen Biosciences agrees to include the provisions under FAR 52.219-8, “Utilization of Small Business Concerns,” in all acquisitions exceeding
the simplified acquisition threshold that offer further subcontracting opportunities. 
  
 6. Reporting and Cooperation 
  
 Xenogen
Biosciences will cooperate in any studies of surveys in this area that may be required by NIEHS and periodically submit reports that show compliance with the subcontracting plan (including Standard Forms 294 and 295) as required and indicated below:

  

					
	 Reporting Period

	  	Report Due

	  	Due Date

	 Oct 1 – Mar 31
	  	SF 294	  	4/30
	 Apr 1 – Sept 30
	  	SF 294	  	10/30
	 Oct 1 – Sept 30
	  	SF 295	  	10/30
	 Contract Completion
	  	OF 312	  	30 days after completion

  

	 	Notes:	SF 295 Report is due on 10/30 each year for the previous fiscal year ending 9/30. 

  

	 	a.	SF 294 and Optional Form 312, (OF 312) (if required) to be submitted to Contracting Officer. 

  

	 	b.	SF 295 to be submitted to Contracting Officer and to the: 

  
 Office of Small and Disadvantaged Business Utilization 
 Department of Health and Human Services 
 200 Independence Avenue, SW 
 Humphrey H. Building, Room 517-D 
 Washington, D.C. 20201 
  

	 	c.	“Information” copy of the SP 295 and the SF 294 will be provided upon request to the SBA Commercial Market Representative (CMR) nearest Xenogen Biosciences.

  

 7. Record keeping 
  
 Xenogen Biosciences will keep records to demonstrate its compliance with this subcontracting plan that include the following 
  

	 	a.	SB, SDB, WOSB, HUBZone, VOSB, and SDVOSB source lists, guides and other data identifying such vendors; 

  

	 	b.	Organizations contacted in an attempt to locate SB, SDB, WOSB, HUBZone, VOSB, and SDVOSB sources; 

  

	 	c.	On a contract-by-contract basis, records on all subcontract solicitations over $100,000, which indicate for each solicitation (1) whether SB, SDB, WOSB, HUBZone, VOSB, and/or SDVOSB
concerns were solicited, if not, why not and the reasons solicited concerns did not receive subcontract awards. 

  

	 	d.	Records to support internal guidance and encouragement provided to buyers through monitoring performance to evaluate compliance with the program and requirements; and

  

	 	f.	On a contract-by-contract basis, records to support subcontract award data including the name, address, and business type and size of each subcontractor. 

 

	 	g.	Records of any outreach efforts to contact trade associations and business development organizations and participate in trade fairs. 

  
 8. Timely Payments to Subcontractors 
  
 Xenogen Biosciences uses procedures to ensure the timely payment of amounts
due pursuant to the terms of your subcontracts with small business concerns, small disadvantaged small business concerns, women-owned small business concerns, HUBZone small business concerns, veteran-owned small business concerns, and
service-disabled veteran-owned small business concerns. 
  
 9. Description of
Good Faith Effort 
  
 Maximum practicable utilization of
small, small disadvantaged, women-owned, HUBZone, veteran owned, and service-disabled veteran-owned small business concerns as subcontractors in Government contracts is a matter of national interest with both social and economic benefits. When a
contractor fails to make a good faith effort to comply with a subcontracting plan, these objectives are not achieved, and 15 U.S.C. 637(d)(4)(F) directs that liquidated damages shall be paid by the contractor. In order to demonstrate your
compliance with a good faith effort to achieve the small, small disadvantaged, women-owned, HUBZone, veteran-owned, and service-disabled veteran-owned small business subcontracting goals, outline the steps your company plans to take. These steps
will be negotiated with the contracting officer prior to approval of the plan. 
  

	 	•	Periodic review of sources from the Small Business Administration’s (SBA) PRO-Net and SUB-Net Systems, and the NIH e-Portals in Commerce to identify potential suppliers of
services to be subcontracted. 

  

	 	•	Periodic review of industry and other, non-government resources to identify potential suppliers of services to be subcontracted. 

  

	 	•	Periodic measurement and review of achievement of the stated goals.<PAGE>

                                                                     Exhibit 4.1

--------------------------------------------------------------------------------

                    WELLS FARGO ASSET SECURITIES CORPORATION

                                    (Seller)

                                       and

                             WELLS FARGO BANK, N.A.

                                (Master Servicer)

                                       and

                                    [TRUSTEE]

                                    (Trustee)

                         POOLING AND SERVICING AGREEMENT

                            Dated as of ______, 200_

                                $_______________

                       Mortgage Pass-Through Certificates
                                  Series 200_-_

--------------------------------------------------------------------------------

<PAGE>

                                TABLE OF CONTENTS

                                                                            Page

                                    ARTICLE I

                                   DEFINITIONS

Section 1.01   Definitions...................................................I-1
Section 1.02   Acts of Holders..............................................I-43
Section 1.03   Effect of Headings and Table of Contents.....................I-44
Section 1.04   Benefits of Agreement........................................I-44

                                   ARTICLE II

                          CONVEYANCE OF MORTGAGE LOANS;
                      ORIGINAL ISSUANCE OF THE CERTIFICATES

Section 2.01   Conveyance of Mortgage Loans.................................II-1
Section 2.02   Acceptance by Custodian......................................II-4
Section 2.03   Representations and Warranties of the Master Servicer
                and the Seller..............................................II-6
Section 2.04   Execution and Delivery of Certificates......................II-12
Section 2.05   Designation of Certificates; Designation of Startup Day
                and Latest Possible Maturity Date..........................II-13
Section 2.06   Optional Substitution of Mortgage Loans.....................II-13

                                   ARTICLE III

                  ADMINISTRATION OF THE TRUST ESTATE; SERVICING
                              OF THE MORTGAGE LOANS

Section 3.01   Certificate Account.........................................III-1
Section 3.02   Permitted Withdrawals from the Certificate Account..........III-2
Section 3.03   Advances by Master Servicer and Trustee.....................III-3
Section 3.04   Custodian to Cooperate; Release of Owner Mortgage Loan
                Files and Retained Mortgage Loan Files.....................III-4
Section 3.05   Reports to the Trustee; Annual Compliance Statements........III-5
Section 3.06   Title, Management and Disposition of Any REO Mortgage
                Loan.......................................................III-6
Section 3.07   Amendments to Servicing Agreements, Modification of
                Standard Provisions........................................III-7
Section 3.08   Oversight of Servicing......................................III-7
Section 3.09   Termination and Substitution of Servicing Agreements.......III-10
Section 3.10   Application of Net Liquidation Proceeds....................III-11
Section 3.11   Exchange Act Reports.......................................III-11

                                       -i-

<PAGE>

                                   ARTICLE IV

                    DISTRIBUTIONS IN RESPECT OF CERTIFICATES;
                         PAYMENTS TO CERTIFICATEHOLDERS;
                             STATEMENTS AND REPORTS

Section 4.01   Distributions................................................IV-1
Section 4.02   Allocation of Realized Losses................................IV-6
Section 4.03   Paying Agent.................................................IV-7
Section 4.04   Statements to Certificateholders; Reports to the Trustee
                and the Seller..............................................IV-8
Section 4.05   Reports to Mortgagors and the Internal Revenue Service......IV-11
Section 4.06   Calculation of Amounts; Binding Effect of
                Interpretations and Actions of Master Servicer.............IV-11

                                    ARTICLE V

                                THE CERTIFICATES

Section 5.01   The Certificates..............................................V-1
Section 5.02   Registration of Certificates..................................V-2
Section 5.03   Mutilated, Destroyed, Lost or Stolen Certificates.............V-6
Section 5.04   Persons Deemed Owners.........................................V-6
Section 5.05   Access to List of Certificateholders' Names and
                Addresses....................................................V-6
Section 5.06   Maintenance of Office or Agency...............................V-7
Section 5.07   Definitive Certificates.......................................V-7
Section 5.08   Notices to Clearing Agency....................................V-8

                                   ARTICLE VI

                       THE SELLER AND THE MASTER SERVICER

Section 6.01   Liability of the Seller and the Master Servicer..............VI-1
Section 6.02   Merger or Consolidation of the Seller or the Master
                Servicer....................................................VI-1
Section 6.03   Limitation on Liability of the Seller, the Master
                Servicer and Others.........................................VI-1
Section 6.04   Resignation of the Master Servicer...........................VI-2
Section 6.05   Compensation to the Master Servicer..........................VI-2
Section 6.06   Assignment or Delegation of Duties by Master Servicer........VI-2
Section 6.07   Indemnification of Trustee and Seller by Master Servicer.....VI-3

                                   ARTICLE VII

                                     DEFAULT

Section 7.01   Events of Default...........................................VII-1
Section 7.02   Other Remedies of Trustee...................................VII-2

                                      -ii-

<PAGE>

Section 7.03   Directions by Certificateholders and Duties of Trustee
                During Event of Default....................................VII-3
Section 7.04   Action upon Certain Failures of the Master Servicer and
                upon Event of Default......................................VII-3
Section 7.05   Trustee to Act; Appointment of Successor....................VII-3
Section 7.06   Notification to Certificateholders..........................VII-5

                                  ARTICLE VIII

                             CONCERNING THE TRUSTEE

Section 8.01   Duties of Trustee..........................................VIII-1
Section 8.02   Certain Matters Affecting the Trustee......................VIII-2
Section 8.03   Trustee Not Required to Make Investigation.................VIII-2
Section 8.04   Trustee Not Liable for Certificates or Mortgage Loans......VIII-3
Section 8.05   Trustee May Own Certificates...............................VIII-3
Section 8.06   The Master Servicer to Pay Fees and Expenses...............VIII-3
Section 8.07   Eligibility Requirements...................................VIII-3
Section 8.08   Resignation and Removal....................................VIII-4
Section 8.09   Successor..................................................VIII-5
Section 8.10   Merger or Consolidation....................................VIII-5
Section 8.11   Authenticating Agent.......................................VIII-5
Section 8.12   Separate Trustees and Co-Trustees..........................VIII-6
Section 8.13   Tax Matters; Compliance with REMIC Provisions..............VIII-8
Section 8.14   Monthly Advances..........................................VIII-10

                                   ARTICLE IX

                                   TERMINATION

Section 9.01   Termination upon Purchase by the Seller or Liquidation
                of All Mortgage Loans.......................................IX-1
Section 9.02   Additional Termination Requirements..........................IX-3

                                    ARTICLE X

                            MISCELLANEOUS PROVISIONS

Section 10.01  Amendment.....................................................X-1
Section 10.02  Recordation of Agreement......................................X-2
Section 10.03  Limitation on Rights of Certificateholders....................X-2
Section 10.04  Governing Law; Jurisdiction...................................X-3
Section 10.05  Notices.......................................................X-3
Section 10.06  Severability of Provisions....................................X-4
Section 10.07  Special Notices to Rating Agencies............................X-4
Section 10.08  Covenant of Seller............................................X-5

                                      -iii-

<PAGE>

Section 10.09  Recharacterization............................................X-5

                                   ARTICLE XI

                             TERMS FOR CERTIFICATES

Section 11.01  Cut-Off Date.................................................XI-1
Section 11.02  Cut-Off Date Aggregate Principal Balance.....................XI-1
Section 11.03  Original Class A Percentage..................................XI-1
Section 11.04  Original Principal Balances of the Classes of Class A
                Certificates................................................XI-1
Section 11.05  Original Subordinated Percentage.............................XI-1
Section 11.06  Original Class B Principal Balance...........................XI-1
Section 11.07  Original Principal Balances of the Classes of Class B
                Certificates................................................XI-2
Section 11.08  Original Class B-1 Fractional Interest.......................XI-2
Section 11.09  Original Class B-2 Fractional Interest.......................XI-2
Section 11.10  Original Class B-3 Fractional Interest.......................XI-2
Section 11.11  Original Class B-4 Fractional Interest.......................XI-2
Section 11.12  Original Class B-5 Fractional Interest.......................XI-2
Section 11.13  Original Class B-1 Percentage................................XI-2
Section 11.14  Original Class B-2 Percentage................................XI-2
Section 11.15  Original Class B-3 Percentage................................XI-2
Section 11.16  Original Class B-4 Percentage................................XI-3
Section 11.17  Original Class B-5 Percentage................................XI-3
Section 11.18  Original Class B-6 Percentage................................XI-3
Section 11.19  Closing Date.................................................XI-3
Section 11.20  Right to Purchase............................................XI-3
Section 11.21  Wire Transfer Eligibility....................................XI-3
Section 11.22  Single Certificate...........................................XI-3
Section 11.23  Servicing Fee Rate...........................................XI-3
Section 11.24  Master Servicing Fee Rate....................................XI-4

                                      -iv-

<PAGE>

                                    EXHIBITS
                                    --------
EXHIBIT A-1   -  Form of Face of Class A-1 Certificate
EXHIBIT A-2   -  Form of Face of Class A-2 Certificate
EXHIBIT A-3   -  Form of Face of Class A-3 Certificate
EXHIBIT A-4   -  Form of Face of Class A-4 Certificate
EXHIBIT A-5   -  Form of Face of Class A-5 Certificate
EXHIBIT A-6   -  Form of Face of Class A-6 Certificate
EXHIBIT A-7   -  Form of Face of Class A-7 Certificate
EXHIBIT A-8   -  Form of Face of Class A-8 Certificate
EXHIBIT A-9   -  Form of Face of Class A-9 Certificate
EXHIBIT A-10  -  Form of Face of Class A-10 Certificate
EXHIBIT A-11  -  Form of Face of Class A-11 Certificate
EXHIBIT A-R   -  Form of Face of Class A-R Certificate
EXHIBIT B-1   -  Form of Face of Class B-1 Certificate
EXHIBIT B-2   -  Form of Face of Class B-2 Certificate
EXHIBIT B-3   -  Form of Face of Class B-3 Certificate
EXHIBIT B-4   -  Form of Face of Class B-4 Certificate
EXHIBIT B-5   -  Form of Face of Class B-5 Certificate
EXHIBIT B-6   -  Form of Face of Class B-6 Certificate
EXHIBIT C     -  Form of Reverse of Series 200_-_ Certificates
EXHIBIT D     -  Reserved
EXHIBIT E     -  Custodial Agreement
EXHIBIT F-1   -  Schedule of Type 1 Mortgage Loans
EXHIBIT G     -  Request for Release
EXHIBIT H     -  Affidavit Pursuant to Section 860E(e)(4) of the Internal
                 Revenue Code of 1986, as amended, and for Non-ERISA Investors
EXHIBIT I     -  Letter from Transferor of Residual Certificates
EXHIBIT J     -  Transferee's Letter (Class [B-4] [B-5] [B-6] Certificates)
EXHIBIT K     -  List of Recordation States
EXHIBIT L     -  Servicing Agreements
EXHIBIT M     -  Form of Special Servicing Agreement
EXHIBIT N     -  Form of Initial Certification of the Custodian
EXHIBIT O     -  Form of Final Certification of the Custodian
SCHEDULE I    -  Applicable Unscheduled Principal Receipt Period

                                       -v-

<PAGE>

          This Pooling and Servicing Agreement, dated as of ______, 200_
executed by WELLS FARGO ASSET SECURITIES CORPORATION, as Seller, WELLS FARGO
BANK, N.A., as Master Servicer, and [TRUSTEE], as Trustee.

                          W I T N E S S E T H  T H A T:
                          - - - - - - - - - -  - - - -

          In consideration of the mutual agreements herein contained, the
Seller, the Master Servicer and the Trustee agree as follows:

                                    ARTICLE I

                                   DEFINITIONS

          Section 1.01  Definitions.
                        ------------

          Whenever used herein, the following words and phrases, unless the
context otherwise requires, shall have the meanings specified in this Article.

          Accepted Master Servicing Practices: Accepted Master Servicing
Practices shall consist of the customary and usual master servicing practices of
prudent master servicing institutions which service mortgage loans of the same
type as the Mortgage Loans in the jurisdictions in which the related Mortgaged
Properties are located, regardless of the date upon which the related Mortgage
Loans were originated.

          Adjusted Pool Amount: With respect to any Distribution Date, the
Cut-Off Date Aggregate Principal Balance of the Mortgage Loans minus the sum of
(i) all amounts in respect of principal received in respect of the Mortgage
Loans (including, without limitation, amounts received as Monthly Payments,
Periodic Advances, Unscheduled Principal Receipts and Substitution Principal
Amounts) and distributed to Holders of the Certificates on such Distribution
Date and all prior Distribution Dates, (ii) the principal portion of all
Liquidated Loan Losses incurred on such Mortgage Loans for which the Liquidation
Proceeds were received from the Cut-Off Date through the end of the Applicable
Unscheduled Principal Receipt Period with respect to Full Unscheduled Principal
Receipts for such Distribution Date and (iii) the principal portion of all
Bankruptcy Losses (other than Debt Service Reductions) incurred on the Mortgage
Loans from the Cut-Off Date through the end of the period corresponding to the
Applicable Unscheduled Principal Receipt Period with respect to Full Unscheduled
Principal Receipts for such Distribution Date.

          Adjusted Principal Balance: As to any Distribution Date and any Class
of Class B Certificates, the greater of (A) zero and (B) (i) the Principal
Balance of such Class with respect to such Distribution Date minus (ii) the
Adjustment Amount for such Distribution Date less the Principal Balances for any
Classes of Class B Certificates with higher numerical designations.

          Adjustment Amount: For any Distribution Date, the difference between
(A) the sum of the Class A Principal Balance and the Class B Principal Balance
as of the related Determination Date and (B) the sum of (i) the sum of the Class
A Principal Balance and the

                                       I-1

<PAGE>

Class B Principal Balance as of the Determination Date succeeding such
Distribution Date and (ii) the aggregate amount that would have been distributed
to all Classes as principal in accordance with Section 4.01(a) for such
Distribution Date without regard to the provisos in the definitions of Class B-1
Optimal Principal Amount, Class B-2 Optimal Principal Amount, Class B-3 Optimal
Principal Amount, Class B-4 Optimal Principal Amount, Class B-5 Optimal
Principal Amount and Class B-6 Optimal Principal Amount.

          Aggregate Class A Distribution Amount: As to any Distribution Date,
the aggregate amount distributable to the Classes of Class A Certificates
pursuant to Paragraphs first, second and third of Section 4.01(a) on such
Distribution Date.

          Aggregate Class A Unpaid Interest Shortfall: As to any Distribution
Date, an amount equal to the sum of the Class A Unpaid Interest Shortfalls for
the Class A Certificates.

          Aggregate Principal Balance: With respect to any Distribution Date,
the sum of the Class A Principal Balance and the Class B Principal Balance as of
such Distribution Date.

          Agreement: This Pooling and Servicing Agreement and all amendments and
supplements hereto.

          Applicable Unscheduled Principal Receipt Period: With respect to the
Mortgage Loans serviced by each Servicer and each of Full Unscheduled Principal
Receipts and Partial Unscheduled Principal Receipts, the Unscheduled Principal
Receipt Period specified on Schedule I hereto, as amended from time to time by
the Master Servicer pursuant to Section 10.01(b) hereof.

          Authenticating Agent: Any authenticating agent appointed by the
Trustee pursuant to Section 8.11. There shall initially be no Authenticating
Agent for the Certificates.

          Available Master Servicer Compensation: With respect to any
Distribution Date, the sum of (a) the Master Servicing Fee for such Distribution
Date, (b) interest earned through the business day preceding the applicable
Distribution Date on any Prepayments in Full remitted to the Master Servicer and
(c) the aggregate amount of Month End Interest remitted by the Servicers to the
Master Servicer pursuant to the related Servicing Agreements.

          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 a Bankruptcy Loss
shall not be deemed a Bankruptcy Loss hereunder so long as the applicable
Servicer has notified the Master Servicer and the Trustee in writing that such
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 such Servicer without giving
effect to any Debt Service Reduction.

                                       I-2

<PAGE>

          Beneficial Owner: With respect to a Book-Entry Certificate, the Person
who is the beneficial owner of such Book-Entry Certificate, as reflected on the
books of the Clearing Agency, or on the books of a Person maintaining an account
with such Clearing Agency (directly or as an indirect participant, in accordance
with the rules of such Clearing Agency), as the case may be.

          Book-Entry Certificate: Any one of the Class A-1 Certificates, Class
A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5
Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-8
Certificates, Class A-9 Certificates, Class A-10 Certificates, Class A-11
Certificates, Class B-1 Certificates, Class B-2 Certificates and Class B-3
Certificates, beneficial ownership and transfers of which shall be evidenced by,
and made through, book entries by the Clearing Agency as described in Section
5.01(b).

          Business Day: Any day other than (i) a Saturday or a Sunday, or (ii) a
legal holiday in the City of New York, State of Iowa, State of Maryland, State
of Minnesota or State of North Carolina or (iii) a day on which banking
institutions in the City of New York, or the State of Iowa, State of Maryland,
State of Minnesota or State of North Carolina are authorized or obligated by law
or executive order to be closed.

          Certificate: Any one of the Class A Certificates or Class B
Certificates.

          Certificate Account: The separate trust account established and
maintained by the Master Servicer in the name of the Master Servicer on behalf
of the Trustee pursuant to Section 3.01. The Certificate Account shall be an
Eligible Account.

          Certificate Custodian: Initially, [TRUSTEE]; thereafter any other
Certificate Custodian acceptable to The Depository Trust Company and selected by
the Trustee.

          Certificate Register and Certificate Registrar: Respectively, the
register maintained pursuant to and the registrar provided for in Section 5.02.
The initial Certificate Registrar is the Trustee.

          Certificateholder or Holder: The Person in whose name a Certificate is
registered in the Certificate Register, except that, solely for the purposes of
the taking of any action under Articles VII or VIII, any Certificate registered
in the name of the Master Servicer, a Servicer or any affiliate thereof shall be
deemed not to be outstanding and the Voting Interest evidenced thereby shall not
be taken into account in determining whether the requisite percentage of
Certificates necessary to effect any such action has been obtained.

          Class: All certificates whose form is identical except for variations
in the Percentage Interest evidenced thereby.

          Class A Certificate: Any one of the Class A-1 Certificates, Class A-2
Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5
Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-8
Certificates, Class A-9 Certificates, Class A-10 Certificates, Class A-11
Certificates or the Class A-R Certificate.

          Class A Certificateholder: The registered holder of a Class A
Certificate.

                                       I-3

<PAGE>

          Class A Distribution Amount: As to any Distribution Date and any Class
of Class A Certificates, the amount distributable to such Class of Class A
Certificates pursuant to Paragraphs first, second and third of Section 4.01(a).

          Class A Interest Accrual Amount: As to any Distribution Date, the sum
of the Interest Accrual Amounts for the Class A Certificates with respect to
such Distribution Date.

          Class A Interest Percentage: As to any Distribution Date and any Class
of Class A Certificates, the percentage calculated by dividing the Interest
Accrual Amount of such Class (determined without regard to clause (ii) of the
definition thereof) by the Class A Interest Accrual Amount (determined without
regard to clause (ii) of the definition of Interest Accrual Amount).

          Class A Interest Shortfall Amount: As to any Distribution Date and any
Class of Class A Certificates, any amount by which the Interest Accrual Amount
of such Class with respect to such Distribution Date exceeds the amount
distributed in respect of such Class on such Distribution Date pursuant to
Paragraph first of Section 4.01(a).

          Class A Interest Shortfall Percentage: As to any Distribution Date and
any Class of Class A Certificates, the percentage calculated by dividing the
Class A Unpaid Interest Shortfall for such Class by the Aggregate Class A Unpaid
Interest Shortfall determined as of the Business Day preceding the applicable
Distribution Date.

          Class A Loss Denominator: As to any Determination Date, an amount
equal to the Class A Principal Balance.

          Class A Loss Percentage: As to any Determination Date and any Class of
Class A Certificates then outstanding, the percentage calculated by dividing the
Principal Balance of such Class by the Class A Loss Denominator (determined
without regard to any such Principal Balance of any Class of Class A
Certificates not then outstanding), in each case determined as of the preceding
Determination Date.

          Class A Optimal Principal Amount: As to any Distribution Date and each
Outstanding Mortgage Loan, an amount equal to the sum of

(I) the sum of:

          (i)   the Class A Percentage of the principal portion of the Monthly
     Payment due on the Due Date occurring in the month of such Distribution
     Date on such Mortgage Loan;

          (ii)  the Class A Prepayment Percentage of all Unscheduled Principal
     Receipts (other than Recoveries) that were received by a Servicer with
     respect to such Mortgage Loan during the Applicable Unscheduled Principal
     Receipt Period relating to such Distribution Date for each applicable type
     of Unscheduled Principal Receipt;

          (iii) the Class A Prepayment Percentage of the Scheduled Principal
     Balance of such Mortgage Loan which, during the one month period ending on
     the day preceding the

                                       I-4

<PAGE>

     Determination Date for such Distribution Date, was repurchased by the
     Seller pursuant to Section 2.02 or 2.03; and

          (iv)  the Class A Percentage of the excess of the unpaid principal
     balance of such Mortgage Loan substituted for a Mortgage Loan during the
     one month period ending on the day preceding the Determination Date for
     such Distribution Date over the unpaid principal balance of such Mortgage
     Loan, less the amount allocable to the principal portion of any
     unreimbursed Periodic Advances previously made by the applicable Servicer,
     the Master Servicer or the Trustee in respect of such Mortgage Loan; and

(II) the Class A Prepayment Percentage of the Recovery for such Distribution
Date.

          Class A Pass-Through Rate: As to any Distribution Date, the Class A
Pass-Through Rate will be a per annum rate equal to the weighted average of the
Net Mortgage Interest Rates of the Mortgage Loans (based on Scheduled Principal
Balances of the Mortgage Loans on the first day of the month preceding the month
of such Distribution Date).

          Class A Percentage: As to any Distribution Date occurring on or prior
to the Subordination Depletion Date, the lesser of (i) 100% and (ii) the
percentage obtained by dividing the Class A Principal Balance (determined as of
the Determination Date preceding such Distribution Date) by the Pool Balance. As
to any Distribution Date occurring subsequent to the Subordination Depletion
Date, 100% or such lesser percentage which will cause the Class A Principal
Balance to decline to zero following the distribution made on such Distribution
Date.

          Class A Prepayment Percentage: As to any Distribution Date to and
including the Distribution Date in ____ 20__, 100%. As to any Distribution Date
subsequent to ___ 20__ to and including the Distribution Date in ___ 20__, the
Class A Percentage as of such Distribution Date plus 70% of the Subordinated
Percentage as of such Distribution Date. As to any Distribution Date subsequent
to ___ 20__ to and including the Distribution Date in ___ 20__, the Class A
Percentage as of such Distribution Date plus 60% of the Subordinated Percentage
as of such Distribution Date. As to any Distribution Date subsequent to ___ 20__
to and including the Distribution Date in ___ 20__, the Class A Percentage as of
such Distribution Date plus 40% of the Subordinated Percentage as of such
Distribution Date. As to any Distribution Date subsequent to ___ 20__ to and
including the Distribution Date in ___ 20__, the Class A Percentage as of such
Distribution Date plus 20% of the Subordinated Percentage as of such
Distribution Date. As to any Distribution Date subsequent to ___ 20__, the Class
A Percentage as of such Distribution Date. The foregoing is subject to the
following: (i) if the aggregate distribution to the Class A Certificates on any
Distribution Date of the Class A Prepayment Percentage provided above of
Unscheduled Principal Receipts distributable on such Distribution Date would
reduce the Class A Principal Balance below zero, the Class A Prepayment
Percentage for such Distribution Date shall be the percentage necessary to bring
the Class A Principal Balance to zero and thereafter the Class A Prepayment
Percentage shall be zero and (ii) if the Class A Percentage as of any
Distribution Date is greater than the Original Class A Percentage, the Class A
Prepayment Percentage for such Distribution Date shall be 100%. Notwithstanding
the foregoing, with respect to any Distribution Date on which the following
criteria are not met, the reduction of the Class A Prepayment Percentage
described in the second

                                       I-5

<PAGE>

through sixth sentences of this definition of Class A Prepayment Percentage
shall not be applicable with respect to such Distribution Date. In such event,
the Class A Prepayment Percentage for such Distribution Date will be determined
in accordance with the applicable provision, as set forth in the first through
fifth sentences above, which was actually used to determine the Class A
Prepayment Percentage for the Distribution Date occurring in the May preceding
such Distribution Date (it being understood that for the purposes of the
determination of the Class A Prepayment Percentage for the current Distribution
Date, the current Class A Percentage and Subordinated Percentage shall be
utilized). In addition, if on any Distribution Date, prior to giving effect to
any distributions on such Distribution Date, (i) the Subordinated Percentage is
equal to or greater than twice the Subordinated Percentage as of the Cut-Off
Date, (ii) the average outstanding principal balance on such Distribution Date
and for the preceding five Distribution Dates of the Mortgage Loans that were
delinquent 60 days or more (including for this purpose any Mortgage Loans in
foreclosure and Mortgage Loans with respect to which the related Mortgaged
Property has been acquired by the Trust Estate) does not exceed 50% of the Class
B Principal Balance and (iii)(A) prior to the Distribution Date in ____ 20__,
cumulative Realized Losses on the Mortgage Loans do not exceed 20% of the
Original Class B Principal Balance, then the Class A Prepayment Percentage for
such Distribution Date will equal the Class A Percentage for such Distribution
Date plus 50% of the Subordinated Percentage for such Distribution Date or (B)
on or after the Distribution Date in ____ 20__, cumulative Realized Losses on
the Mortgage Loans do not exceed 30% of the Original Class B Principal Balance,
then the Class A Prepayment Percentage for such Distribution Date will equal the
Class A Percentage for such Distribution Date. No reduction in the Class A
Prepayment Percentage referred to in the second through sixth sentences hereof
shall be applicable, with respect to any Distribution Date if (a) the average
outstanding principal balance on such Distribution Date and for the preceding
five Distribution Dates on the Mortgage Loans that were delinquent 60 days or
more (including for this purpose any payments due with respect to Mortgage Loans
in foreclosure and REO Mortgage Loans) were greater than or equal to 50% of the
current Class B Principal Balance or (b) cumulative Realized Losses on the
Mortgage Loans exceed (1) 30% of the Original Class B Principal Balance if such
Distribution Date occurs between and including ____ 20__ and ___ 20__, (2) 35%
of the Original Class B Principal Balance if such Distribution Date occurs
between and including ____ 20__ and ___ 20__, (3) 40% of the Original Class B
Principal Balance if such Distribution Date occurs between and including ____
20__ and ___ 20__, (4) 45% of the Original Class B Principal Balance if such
Distribution Date occurs between and including ____ 20__ and ___ 20__, and (5)
50% of the Original Class B Principal Balance, if such Distribution Date occurs
during or after ____ 20__. With respect to any Distribution Date on which the
Class A Prepayment Percentage is reduced below the Class A Prepayment Percentage
for the prior Distribution Date, the Master Servicer shall certify to the
Trustee, based upon information provided by each Servicer as to the Mortgage
Loans serviced by it that the criteria set forth in the preceding sentence are
met.

          Class A Principal Balance: As of any date, an amount equal to the sum
of the Principal Balances for the Class A-1 Certificates, Class A-2
Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5
Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-8
Certificates, Class A-9 Certificates, Class A-10 Certificates, Class A-11
Certificates and Class A-R Certificates.

                                       I-6

<PAGE>

          Class A Principal Distribution Amount: As to any Distribution Date,
the aggregate amount distributed in respect of the Class A Certificates pursuant
to Paragraph third of Section 4.01(a).

          Class A Unpaid Interest Shortfall: With respect to any Distribution
Date and any Class of Class A Certificates, the amount, if any, by which the
aggregate of the Class A Interest Shortfall Amounts for such Class for prior
Distribution Dates is in excess of the amounts distributed in respect of such
Class on prior Distribution Dates pursuant to Paragraph second of Section
4.01(a).

          Class A-1 Certificate: Any one of the Certificates executed by the
Trustee and authenticated by the Trustee or the Authenticating Agent in
substantially the form set forth in Exhibit A-1 and Exhibit C hereto.

          Class A-1 Certificateholder: The registered holder of a Class A-1
Certificate.

          Class A-2 Certificate: Any one of the Certificates executed by the
Trustee and authenticated by the Trustee or the Authenticating Agent in
substantially the form set forth in Exhibit A-2 and Exhibit C hereto.

          Class A-2 Certificateholder: The registered holder of a Class A-2
Certificate.

          Class A-3 Certificate: Any one of the Certificates executed by the
Trustee and authenticated by the Trustee or the Authenticating Agent in
substantially the form set forth in Exhibit A-3 and Exhibit C hereto.

          Class A-3 Certificateholder: The registered holder of a Class A-3
Certificate.

          Class A-4 Certificate: Any one of the Certificates executed by the
Trustee and authenticated by the Trustee or the Authenticating Agent in
substantially the form set forth in Exhibit A-4 and Exhibit C hereto.

          Class A-4 Certificateholder: The registered holder of a Class A-4
Certificate.

          Class A-5 Certificate: Any one of the Certificates executed by the
Trustee and authenticated by the Trustee or the Authenticating Agent in
substantially the form set forth in Exhibit A-5 and Exhibit C hereto.

          Class A-5 Certificateholder: The registered holder of a Class A-5
Certificate.

          Class A-6 Certificate: Any one of the Certificates executed by the
Trustee and authenticated by the Trustee or the Authenticating Agent in
substantially the form set forth in Exhibit A-6 and Exhibit C hereto.

          Class A-6 Certificateholder: The registered holder of a Class A-6
Certificate.

          Class A-6 Loss Amount: With respect to any Determination Date after
the Subordination Depletion Date, the amount, if any, by which the Principal
Balance of the Class

                                       I-7

<PAGE>

A-6 Certificates would be reduced as a result of the application of the third
sentence of the definition of Principal Balance.

          Class A-7 Certificate: Any one of the Certificates executed by the
Trustee and authenticated by the Trustee or the Authenticating Agent in
substantially the form set forth in Exhibit A-7 and Exhibit C hereto.

          Class A-7 Certificateholder: The registered holder of a Class A-7
Certificate.

          Class A-7 Loss Amount: With respect to any Determination Date after
the Subordination Depletion Date, the amount, if any, by which the Principal
Balance of the Class A-7 Certificates would be reduced as a result of the
application of the third sentence of the definition of Principal Balance.

          Class A-8 Certificate: Any one of the Certificates executed by the
Trustee and authenticated by the Trustee or the Authenticating Agent in
substantially the form set forth in Exhibit A-8 and Exhibit C hereto.

          Class A-8 Certificateholder: The registered holder of a Class A-8
Certificate.

          Class A-9 Certificate: Any one of the Certificates executed by the
Trustee and authenticated by the Trustee or the Authenticating Agent in
substantially the form set forth in Exhibit A-9 and Exhibit C hereto.

          Class A-9 Certificateholder: The registered holder of a Class A-9
Certificate.

          Class A-10 Certificate: Any one of the Certificates executed by the
Trustee and authenticated by the Trustee or the Authenticating Agent in
substantially the form set forth in Exhibit A-10 and Exhibit C hereto.

          Class A-10 Certificateholder: The registered holder of a Class A-10
Certificate.

          Class A-11 Certificate: Any one of the Certificates executed by the
Trustee and authenticated by the Trustee or the Authenticating Agent in
substantially the form set forth in Exhibit A-11 and Exhibit C hereto.

          Class A-11 Certificateholder: The registered holder of a Class A-11
Certificate.

          Class A-11 Loss Allocation Amount: With respect to any Determination
Date after the Subordination Depletion Date the lesser of (a) the Principal
Balance of the Class A-11 Certificates with respect to such Determination Date
prior to any reduction for the Class A-11 Loss Allocation Amount and (b) the sum
of the Class A-6 Loss Amount and the Class A-7 Loss Amount.

          Class A-R Certificate: The Certificate executed by the Trustee and
authenticated by the Trustee or the Authenticating Agent in substantially the
form set forth in Exhibit A-R and Exhibit C hereto.

                                       I-8

<PAGE>

          Class A-R Certificateholder: The registered holder of the Class A-R
Certificate.

          Class B Certificate: Any one of the Class B-1 Certificates, Class B-2
Certificates, Class B-3 Certificates, Class B-4 Certificates, Class B-5
Certificates or Class B-6 Certificates.

          Class B Certificateholder: The registered holder of a Class B
Certificate.

          Class B Distribution Amount: Any of the Class B-1 Distribution Amount,
Class B-2 Distribution Amount, Class B-3 Distribution Amount, Class B-4
Distribution Amount, Class B-5 Distribution Amount or Class B-6 Distribution
Amount.

          Class B Interest Accrual Amount: With respect to any Distribution
Date, the sum of the Interest Accrual Amounts for the Classes of Class B
Certificates with respect to such Distribution Date.

          Class B Interest Percentage: With respect to any Distribution Date and
any Class of Class B Certificates, the percentage calculated by dividing the
Interest Accrual Amount of such Class (determined without regard to clause (ii)
of the definition thereof) by the Class B Interest Accrual Amount (determined
without regard to clause (ii) of the definition of each Interest Accrual
Amount).

          Class B Interest Shortfall Amount: Any of the Class B-1 Interest
Shortfall Amount, Class B-2 Interest Shortfall Amount, Class B-3 Interest
Shortfall Amount, Class B-4 Interest Shortfall Amount, Class B-5 Interest
Shortfall Amount or Class B-6 Interest Shortfall Amount.

          Class B Loss Percentage: With respect to any Determination Date and
any Class of Class B Certificates then outstanding, the percentage calculated by
dividing the Principal Balance of such Class by the Class B Principal Balance
(determined without regard to any Principal Balance of any Class of Class B
Certificates not then outstanding), in each case determined as of the preceding
Determination Date.

          Class B Optimal Principal Amount: Any of the Class B-1 Optimal
Principal Amount, Class B-2 Optimal Principal Amount, Class B-3 Optimal
Principal Amount, Class B-4 Optimal Principal Amount, Class B-5 Optimal
Principal Amount and Class B-6 Optimal Principal Amount.

          Class B Pass-Through Rate: As to any Distribution Date, the Class B
Pass-Through Rate will be a per annum rate equal to the weighted average of the
Net Mortgage Interest Rates of the Mortgage Loans (based on Scheduled Principal
Balances of the Mortgage Loans on the first day of the month preceding the month
of such Distribution Date).

          Class B Percentage: Any one of the Class B-1 Percentage, Class B-2
Percentage, Class B-3 Percentage, Class B-4 Percentage, Class B-5 Percentage or
Class B-6 Percentage.

          Class B Prepayment Percentage: Any of the Class B-1 Prepayment
Percentage, Class B-2 Prepayment Percentage, Class B-3 Prepayment Percentage,
Class B-4 Prepayment Percentage, Class B-5 Prepayment Percentage or Class B-6
Prepayment Percentage.

                                       I-9

<PAGE>

          Class B Principal Balance: As of any date, an amount equal to the sum
of the Class B-1 Principal Balance, Class B-2 Principal Balance, Class B-3
Principal Balance, Class B-4 Principal Balance, Class B-5 Principal Balance and
Class B-6 Principal Balance.

          Class B Unpaid Interest Shortfall: Any of the Class B-1 Unpaid
Interest Shortfall, Class B-2 Unpaid Interest Shortfall, Class B-3 Unpaid
Interest Shortfall, Class B-4 Unpaid Interest Shortfall, Class B-5 Unpaid
Interest Shortfall or Class B-6 Unpaid Interest Shortfall.

          Class B-1 Certificate: Any one of the Certificates executed by the
Trustee and authenticated by the Trustee or the Authenticating Agent in
substantially the form set forth in Exhibit B-1 and Exhibit C hereto.

          Class B-1 Certificateholder: The registered holder of a Class B-1
Certificate.

          Class B-1 Distribution Amount: As to any Distribution Date, any amount
distributable to the Holders of the Class B-1 Certificates pursuant to
Paragraphs fourth, fifth and sixth of Section 4.01(a).

          Class B-1 Interest Shortfall Amount: As to any Distribution Date, any
amount by which the Interest Accrual Amount of the Class B-1 Certificates with
respect to such Distribution Date exceeds the amount distributed in respect of
the Class B-1 Certificates on such Distribution Date pursuant to Paragraph
fourth of Section 4.01(a).

          Class B-1 Optimal Principal Amount: As to any Distribution Date and
each Outstanding Mortgage Loan, an amount equal to the sum of

(I) the sum of:

          (i)   the Class B-1 Percentage of the principal portion of the Monthly
     Payment due on the Due Date occurring in the month of such Distribution
     Date on such Mortgage Loan;

          (ii)  the Class B-1 Prepayment Percentage of all Unscheduled Principal
     Receipts (other than Recoveries) that were received by a Servicer with
     respect to such Mortgage Loan during the Applicable Unscheduled Principal
     Receipt Period relating to such Distribution Date for each applicable type
     of Unscheduled Principal Receipt;

          (iii) the Class B-1 Prepayment Percentage of the Scheduled Principal
     Balance of such Mortgage Loan which, during the one month period ending on
     the day preceding the Determination Date for such Distribution Date, was
     repurchased by the Seller pursuant to Section 2.02 or 2.03; and

          (iv)  the Class B-1 Percentage of the excess of the unpaid principal
     balance of such Mortgage Loan substituted for a Mortgage Loan during the
     one month period ending on the day preceding the Determination Date for
     such Distribution Date over the unpaid principal balance of such Mortgage
     Loan, less the amount allocable to the principal portion of any
     unreimbursed Periodic Advances previously made by the

                                      I-10

<PAGE>

     applicable Servicer, the Master Servicer or the Trustee in respect of such
     Mortgage Loan; and

(II) the Class B-1 Prepayment Percentage of the Recovery for such Distribution
Date;

provided, however, that if an Optimal Adjustment Event occurs with respect to
such Class and such Distribution Date, the Class B-1 Optimal Principal Amount
will equal the lesser of (A) the Class B-1 Optimal Principal Amount calculated
as described in the preceding provisions and (B) the Adjusted Principal Balance
for the Class B-1 Certificates.

          Class B-1 Percentage: As to any Distribution Date, the percentage
calculated by multiplying the Subordinated Percentage by a fraction, the
numerator of which is the Class B-1 Principal Balance (determined as of the
Determination Date preceding such Distribution Date) and the denominator of
which is the Class B Principal Balance.

          Class B-1 Prepayment Percentage: As to any Distribution Date, the
percentage calculated by multiplying the Subordinated Prepayment Percentage by
either (a) for the purpose of allocating Liquidation Proceeds (other than
Partial Liquidation Proceeds), a fraction, the numerator of which is the Class
B-1 Principal Balance (determined as of the Determination Date preceding such
Distribution Date) and the denominator of which is the Class B Principal Balance
and (b) for the purpose of allocating all other unscheduled principal
distributions (i) if any Class B Certificates (other than the Class B-1
Certificates) are eligible to receive such unscheduled principal distributions
for such Distribution Date in accordance with Section 4.01(d), a fraction, the
numerator of which is the Class B-1 Principal Balance (determined as of the
Determination Date preceding such Distribution Date) and the denominator of
which is the sum of the Principal Balances of the Classes of Class B
Certificates eligible to receive such unscheduled principal distributions for
such Distribution Date in accordance with the provisions of Section 4.01(d) or
(ii) except as set forth in Section 4.01(d)(ii), in the event that the Class B
Certificates (other than the Class B-1 Certificates) are not eligible to receive
such unscheduled principal distributions in accordance with Section 4.01(d)(i),
one.

          Class B-1 Principal Balance: As to the first Determination Date, the
Original Class B-1 Principal Balance. As of any subsequent Determination Date,
the Original Class B-1 Principal Balance less the sum of all amounts previously
distributed in respect of the Class B-1 Certificates on prior Distribution Dates
(A) pursuant to Paragraph sixth of Section 4.01(a) and (B) as a result of a
Principal Adjustment; provided, however, if the Class B-1 Certificates are the
most subordinate Certificates outstanding, the Class B-1 Principal Balance will
equal the difference, if any, between the Adjusted Pool Amount as of the
preceding Distribution Date less the Class A Principal Balance as of such
Determination Date.

          Class B-1 Unpaid Interest Shortfall: As to any Distribution Date, the
amount, if any, by which the aggregate of the Class B-1 Interest Shortfall
Amounts for prior Distribution Dates is in excess of the amounts distributed in
respect of the Class B-1 Certificates on prior Distribution Dates pursuant to
Paragraph fifth of Section 4.01(a).

                                      I-11

<PAGE>

          Class B-2 Certificate: Any one of the Certificates executed by the
Trustee and authenticated by the Trustee or the Authenticating Agent in
substantially the form set forth in Exhibit B-2 and Exhibit C hereto.

          Class B-2 Certificateholder: The registered holder of a Class B-2
Certificate.

          Class B-2 Distribution Amount: As to any Distribution Date, any amount
distributable to the Holders of the Class B-2 Certificates pursuant to
Paragraphs seventh, eighth and ninth of Section 4.01(a).

          Class B-2 Interest Shortfall Amount: As to any Distribution Date, any
amount by which the Interest Accrual Amount of the Class B-2 Certificates with
respect to such Distribution Date exceeds the amount distributed in respect of
the Class B-2 Certificates on such Distribution Date pursuant to Paragraph
seventh of Section 4.01(a).

          Class B-2 Optimal Principal Amount: As to any Distribution Date and
each Outstanding Mortgage Loan, an amount equal to the sum of

(I) the sum of:

          (i)   the Class B-2 Percentage of the principal portion of the Monthly
     Payment due on the Due Date occurring in the month of such Distribution
     Date on such Mortgage Loan;

          (ii)  the Class B-2 Prepayment Percentage of all Unscheduled Principal
     Receipts (other than Recoveries) that were received by a Servicer with
     respect to such Mortgage Loan during the Applicable Unscheduled Principal
     Receipt Period relating to such Distribution Date for each applicable type
     of Unscheduled Principal Receipt;

          (iii) the Class B-2 Prepayment Percentage of the Scheduled Principal
     Balance of such Mortgage Loan which, during the one month period ending on
     the day preceding the Determination Date for such Distribution Date, was
     repurchased by the Seller pursuant to Section 2.02 or 2.03; and

          (iv)  the Class B-2 Percentage of the excess of the unpaid principal
     balance of such Mortgage Loan substituted for a Mortgage Loan during the
     one month period ending on the day preceding the Determination Date for
     such Distribution Date over the unpaid principal balance of such Mortgage
     Loan, less the amount allocable to the principal portion of any
     unreimbursed Periodic Advances previously made by the applicable Servicer,
     the Master Servicer or the Trustee in respect of such Mortgage Loan; and

(II) the Class B-2 Prepayment Percentage of the Recovery for such Distribution
Date;

provided, however, that if an Optimal Adjustment Event occurs with respect to
such Class and such Distribution Date, the Class B-2 Optimal Principal Amount
will equal the lesser of (A) the Class B-2 Optimal Principal Amount calculated
as described in the preceding provisions and (B) the Adjusted Principal Balance
for the Class B-2 Certificates.

                                      I-12

<PAGE>

          Class B-2 Percentage: As to any Distribution Date, except as set forth
in the next sentence, the percentage calculated by multiplying (i) the
Subordinated Percentage by (ii) a fraction, the numerator of which is the Class
B-2 Principal Balance (determined as of the Determination Date preceding such
Distribution Date) and the denominator of which is the Class B Principal
Balance.

          Class B-2 Prepayment Percentage: As to any Distribution Date, except
as set forth in the next sentence, the percentage calculated by multiplying (i)
the Subordinated Prepayment Percentage by (ii) a fraction, the numerator of
which is the Class B-2 Principal Balance (determined as of the Determination
Date preceding such Distribution Date) and the denominator of which is (a) for
the purpose of allocating Liquidation Proceeds (other than Partial Liquidation
Proceeds) the Class B Principal Balance and (b) for the purpose of allocating
all other unscheduled principal distributions, the sum of the Principal Balances
of the Classes of Class B Certificates eligible to receive such unscheduled
principal distributions for such Distribution Date in accordance with the
provisions of Section 4.01(d). Except as set forth in Section 4.01(d)(ii), in
the event that the Class B-2 Certificates are not eligible to receive such
unscheduled principal distributions in accordance with Section 4.01(d)(i), the
Class B-2 Prepayment Percentage for such unscheduled principal distributions for
such Distribution Date will be zero.

          Class B-2 Principal Balance: As to the first Determination Date, the
Original Class B-2 Principal Balance. As of any subsequent Determination Date,
the Original Class B-2 Principal Balance less the sum of all amounts previously
distributed in respect of the Class B-2 Certificates on prior Distribution Dates
(A) pursuant to Paragraph ninth of Section 4.01(a) and (B) as a result of a
Principal Adjustment; provided, however, if the Class B-2 Certificates are the
most subordinate Certificates outstanding, the Class B-2 Principal Balance will
equal the difference, if any, between the Adjusted Pool Amount as of the
preceding Distribution Date less the sum of the Class A Principal Balance and
the Class B-1 Principal Balance as of such Determination Date.

          Class B-2 Unpaid Interest Shortfall: As to any Distribution Date, the
amount, if any, by which the aggregate of the Class B-2 Interest Shortfall
Amounts for prior Distribution Dates is in excess of the amounts distributed in
respect of the Class B-2 Certificates on prior Distribution Dates pursuant to
Paragraph eighth of Section 4.01(a).

          Class B-3 Certificate: Any one of the Certificates executed by the
Trustee and authenticated by the Trustee or the Authenticating Agent in
substantially the form set forth in Exhibit B-3 and Exhibit C hereto.

          Class B-3 Certificateholder: The registered holder of a Class B-3
Certificate.

          Class B-3 Distribution Amount: As to any Distribution Date, any amount
distributable to the Holders of the Class B-3 Certificates pursuant to
Paragraphs tenth, eleventh and twelfth of Section 4.01(a).

          Class B-3 Interest Shortfall Amount: As to any Distribution Date, any
amount by which the Interest Accrual Amount of the Class B-3 Certificates with
respect to such Distribution

                                      I-13

<PAGE>

Date exceeds the amount distributed in respect of the Class B-3 Certificates on
such Distribution Date pursuant to Paragraph tenth of Section 4.01(a).

          Class B-3 Optimal Principal Amount: As to any Distribution Date and
each Outstanding Mortgage Loan, an amount equal to the sum of

(I) the sum of:

          (i)   the Class B-3 Percentage of the principal portion of the Monthly
     Payment due on the Due Date occurring in the month of such Distribution
     Date on such Mortgage Loan;

          (ii)  the Class B-3 Prepayment Percentage of all Unscheduled Principal
     Receipts (other than Recoveries) that were received by a Servicer with
     respect to such Mortgage Loan during the Applicable Unscheduled Principal
     Receipt Period relating to such Distribution Date for each applicable type
     of Unscheduled Principal Receipt;

          (iii) the Class B-3 Prepayment Percentage of the Scheduled Principal
     Balance of such Mortgage Loan which, during the one month period ending on
     the day preceding the Determination Date for such Distribution Date, was
     repurchased by the Seller pursuant to Section 2.02 or 2.03; and

          (iv)  the Class B-3 Percentage of the excess of the unpaid principal
     balance of such Mortgage Loan substituted for a Mortgage Loan during the
     one month period ending on the day preceding the Determination Date for
     such Distribution Date over the unpaid principal balance of such Mortgage
     Loan, less the amount allocable to the principal portion of any
     unreimbursed Periodic Advances previously made by the applicable Servicer,
     the Master Servicer or the Trustee in respect of such Mortgage Loan; and

(II) the Class B-3 Prepayment Percentage of the Recovery for such Distribution
Date;

provided, however, that if an Optimal Adjustment Event occurs with respect to
such Class and such Distribution Date, the Class B-3 Optimal Principal Amount
will equal the lesser of (A) the Class B-3 Optimal Principal Amount calculated
as described in the preceding provisions and (B) the Adjusted Principal Balance
for the Class B-3 Certificates.

          Class B-3 Percentage: As to any Distribution Date, except as set forth
in the next sentence, the percentage calculated by multiplying (i) the
Subordinated Percentage by (ii) a fraction, the numerator of which is the Class
B-3 Principal Balance (determined as of the Determination Date preceding such
Distribution Date) and the denominator of which is the Class B Principal
Balance.

          Class B-3 Prepayment Percentage: As to any Distribution Date, except
as set forth in the next sentence, the percentage calculated by multiplying (i)
the Subordinated Prepayment Percentage by (ii) a fraction, the numerator of
which is the Class B-3 Principal Balance (determined as of the Determination
Date preceding such Distribution Date) and the denominator of which is (a) for
the purpose of allocating Liquidation Proceeds (other than Partial Liquidation

                                      I-14

<PAGE>

Proceeds) the Class B Principal Balance and (b) for the purpose of allocating
all other unscheduled principal distributions, the sum of the Principal Balances
of the Classes of Class B Certificates eligible to receive such unscheduled
principal distributions for such Distribution Date in accordance with the
provisions of Section 4.01(d). Except as set forth in Section 4.01(d)(ii), in
the event that the Class B-3 Certificates are not eligible to receive such
unscheduled principal in accordance with Section 4.01(d)(i), the Class B-3
Prepayment Percentage for such unscheduled principal distributions for such
Distribution Date will be zero.

          Class B-3 Principal Balance: As to the first Determination Date, the
Original Class B-3 Principal Balance. As of any subsequent Determination Date,
the Original Class B-3 Principal Balance less the sum of all amounts previously
distributed in respect of the Class B-3 Certificates on prior Distribution Dates
(A) pursuant to Paragraph twelfth of Section 4.01(a) and (B) as a result of a
Principal Adjustment; provided, however, if the Class B-3 Certificates are the
most subordinate Certificates outstanding, the Class B-3 Principal Balance will
equal the difference, if any, between the Adjusted Pool Amount as of the
preceding Distribution Date less the sum of the Class A Principal Balance, the
Class B-1 Principal Balance and the Class B-2 Principal Balance as of such
Determination Date.

          Class B-3 Unpaid Interest Shortfall: As to any Distribution Date, the
amount, if any, by which the aggregate of the Class B-3 Interest Shortfall
Amounts for prior Distribution Dates is in excess of the amounts distributed in
respect of the Class B-3 Certificates on prior Distribution Dates pursuant to
Paragraph eleventh of Section 4.01(a).

          Class B-4 Certificate: Any one of the Certificates executed by the
Trustee and authenticated by the Trustee or the Authenticating Agent in
substantially the form set forth in Exhibit B-4 and Exhibit C hereto.

          Class B-4 Certificateholder: The registered holder of a Class B-4
Certificate.

          Class B-4 Distribution Amount: As to any Distribution Date, any amount
distributable to the Holders of the Class B-4 Certificates pursuant to
Paragraphs thirteenth, fourteenth and fifteenth of Section 4.01(a).

          Class B-4 Interest Shortfall Amount: As to any Distribution Date, any
amount by which the Interest Accrual Amount of the Class B-4 Certificates with
respect to such Distribution Date exceeds the amount distributed in respect of
the Class B-4 Certificates on such Distribution Date pursuant to Paragraph
thirteenth of Section 4.01(a).

          Class B-4 Optimal Principal Amount: As to any Distribution Date and
each Outstanding Mortgage Loan, an amount equal to the sum of

(I) the sum of:

          (i)   the Class B-4 Percentage of the principal portion of the Monthly
     Payment due on the Due Date occurring in the month of such Distribution
     Date on such Mortgage Loan;

                                      I-15

<PAGE>

          (ii)  the Class B-4 Prepayment Percentage of all Unscheduled Principal
     Receipts (other than Recoveries) that were received by a Servicer with
     respect to such Mortgage Loan during the Applicable Unscheduled Principal
     Receipt Period relating to such Distribution Date for each applicable type
     of Unscheduled Principal Receipt;

          (iii) the Class B-4 Prepayment Percentage of the Scheduled Principal
     Balance of such Mortgage Loan which, during the one month period ending on
     the day preceding the Determination Date for such Distribution Date, was
     repurchased by the Seller pursuant to Section 2.02 or 2.03; and

          (iv)  the Class B-4 Percentage of the excess of the unpaid principal
     balance of such Mortgage Loan substituted for a Mortgage Loan during the
     one month period ending on the day preceding the Determination Date for
     such Distribution Date over the unpaid principal balance of such Mortgage
     Loan, less the amount allocable to the principal portion of any
     unreimbursed Periodic Advances previously made by the applicable Servicer,
     the Master Servicer or the Trustee in respect of such Mortgage Loan; and

(II) the Class B-4 Prepayment Percentage of the Recovery for such Distribution
Date;

provided, however, that if an Optimal Adjustment Event occurs with respect to
such Class and such Distribution Date, the Class B-4 Optimal Principal Amount
will equal the lesser of (A) the Class B-4 Optimal Principal Amount calculated
as described in the preceding provisions and (B) the Adjusted Principal Balance
for the Class B-4 Certificates.

          Class B-4 Percentage: As to any Distribution Date, except as set forth
in the next sentence, the percentage calculated by multiplying (i) the
Subordinated Percentage by (ii) a fraction, the numerator of which is the Class
B-4 Principal Balance (determined as of the Determination Date preceding such
Distribution Date) and the denominator of which is the Class B Principal
Balance.

          Class B-4 Prepayment Percentage: As to any Distribution Date, except
as set forth in the next sentence, the percentage calculated by multiplying (i)
the Subordinated Prepayment Percentage by (ii) a fraction, the numerator of
which is the Class B-4 Principal Balance (determined as of the Determination
Date preceding such Distribution Date) and the denominator of which is (a) for
the purpose of allocating Liquidation Proceeds (other than Partial Liquidation
Proceeds) the Class B Principal Balance and (b) for the purpose of allocating
all other unscheduled principal distributions, the sum of the Principal Balances
of the Classes of Class B Certificates eligible to receive such unscheduled
principal distributions for such Distribution Date in accordance with the
provisions of Section 4.01(d). Except as set forth in Section 4.01(d)(ii), in
the event that the Class B-4 Certificates are not eligible to receive such
unscheduled principal in accordance with Section 4.01(d)(i), the Class B-4
Prepayment Percentage for such unscheduled principal distributions for such
Distribution Date will be zero.

          Class B-4 Principal Balance: As to the first Determination Date, the
Original Class B-4 Principal Balance. As of any subsequent Determination Date,
the Original Class B-4 Principal Balance less the sum of all amounts previously
distributed in respect of the Class B-4

                                      I-16

<PAGE>

Certificates on prior Distribution Dates (A) pursuant to Paragraph fifteenth of
Section 4.01(a) and (B) as a result of a Principal Adjustment; provided,
however, if the Class B-4 Certificates are the most subordinate Certificates
outstanding, the Class B-4 Principal Balance will equal the difference, if any,
between the Adjusted Pool Amount as of the preceding Distribution Date less the
sum of the Class A Principal Balance, the Class B-1 Principal Balance, the Class
B-2 Principal Balance and the Class B-3 Principal Balance as of such
Determination Date.

          Class B-4 Unpaid Interest Shortfall: As to any Distribution Date, the
amount, if any, by which the aggregate of the Class B-4 Interest Shortfall
Amounts for prior Distribution Dates is in excess of the amounts distributed in
respect of the Class B-4 Certificates on prior Distribution Dates pursuant to
Paragraph fourteenth of Section 4.01(a).

          Class B-5 Certificate: Any one of the Certificates executed by the
Trustee and authenticated by the Trustee or the Authenticating Agent in
substantially the form set forth in Exhibit B-5 and Exhibit C hereto.

          Class B-5 Certificateholder: The registered holder of a Class B-5
Certificate.

          Class B-5 Distribution Amount: As to any Distribution Date, any amount
distributable to the Holders of the Class B-5 Certificates pursuant to
Paragraphs sixteenth, seventeenth and eighteenth of Section 4.01(a).

          Class B-5 Interest Shortfall Amount: As to any Distribution Date, any
amount by which the Interest Accrual Amount of the Class B-5 Certificates with
respect to such Distribution Date exceeds the amount distributed in respect of
the Class B-5 Certificates on such Distribution Date pursuant to Paragraph
sixteenth of Section 4.01(a).

          Class B-5 Optimal Principal Amount: As to any Distribution Date and
each Outstanding Mortgage Loan, an amount equal to the sum of

(I) the sum of:

          (i)   the Class B-5 Percentage of the principal portion of the Monthly
     Payment due on the Due Date occurring in the month of such Distribution
     Date on such Mortgage Loan;

          (ii)  the Class B-5 Prepayment Percentage of all Unscheduled Principal
     Receipts (other than Recoveries) that were received by a Servicer with
     respect to such Mortgage Loan during the Applicable Unscheduled Principal
     Receipt Period relating to such Distribution Date for each applicable type
     of Unscheduled Principal Receipt;

          (iii) the Class B-5 Prepayment Percentage of the Scheduled Principal
     Balance of such Mortgage Loan which, during the one month period ending on
     the day preceding the Determination Date for such Distribution Date, was
     repurchased by the Seller pursuant to Section 2.02 or 2.03; and

          (iv)  the Class B-5 Percentage of the excess of the unpaid principal
     balance of such Mortgage Loan substituted for a Mortgage Loan during the
     one month period

                                      I-17

<PAGE>

     ending on the day preceding the Determination Date for such Distribution
     Date over the unpaid principal balance of such Mortgage Loan, less the
     amount allocable to the principal portion of any unreimbursed Periodic
     Advances previously made by the applicable Servicer, the Master Servicer or
     the Trustee in respect of such Mortgage Loan; and

(II) the Class B-5 Prepayment Percentage of the Recovery for such Distribution
Date;

provided, however, that if an Optimal Adjustment Event occurs with respect to
such Class and such Distribution Date, the Class B-5 Optimal Principal Amount
will equal the lesser of (A) the Class B-5 Optimal Principal Amount calculated
as described in the preceding provisions and (B) the Adjusted Principal Balance
for the Class B-5 Certificates.

          Class B-5 Percentage: As to any Distribution Date, except as set forth
in the next sentence, the percentage calculated by multiplying (i) the
Subordinated Percentage by (ii) a fraction, the numerator of which is the Class
B-5 Principal Balance (determined as of the Determination Date preceding such
Distribution Date) and the denominator of which is the Class B Principal
Balance.

          Class B-5 Prepayment Percentage: As to any Distribution Date, except
as set forth in the next sentence, the percentage calculated by multiplying (i)
the Subordinated Prepayment Percentage by (ii) a fraction, the numerator of
which is the Class B-5 Principal Balance (determined as of the Determination
Date preceding such Distribution Date) and the denominator of which is (a) for
the purpose of allocating Liquidation Proceeds (other than Partial Liquidation
Proceeds) the Class B Principal Balance and (b) for the purpose of allocating
all other unscheduled principal distributions, the sum of the Principal Balances
of the Classes of Class B Certificates eligible to receive such unscheduled
principal distributions for such Distribution Date in accordance with the
provisions of Section 4.01(d). Except as set forth in Section 4.01(d)(ii), in
the event that the Class B-5 Certificates are not eligible to receive
unscheduled principal distributions in accordance with Section 4.01(d)(i), the
Class B-5 Prepayment Percentage for such unscheduled principal distributions for
such Distribution Date will be zero.

          Class B-5 Principal Balance: As to the first Determination Date, the
Original Class B-5 Principal Balance. As of any subsequent Determination Date,
the Original Class B-5 Principal Balance less the sum of all amounts previously
distributed in respect of the Class B-5 Certificates on prior Distribution Dates
(A) pursuant to Paragraph eighteenth of Section 4.01(a) and (B) as a result of a
Principal Adjustment; provided, however, if the Class B-5 Certificates are the
most subordinate Certificates outstanding, the Class B-5 Principal Balance will
equal the difference, if any, between the Adjusted Pool Amount as of the
preceding Distribution Date less the sum of the Class A Principal Balance, the
Class B-1 Principal Balance, the Class B-2 Principal Balance, the Class B-3
Principal Balance and the Class B-4 Principal Balance as of such Determination
Date.

          Class B-5 Unpaid Interest Shortfall: As to any Distribution Date, the
amount, if any, by which the aggregate of the Class B-5 Interest Shortfall
Amounts for prior Distribution

                                      I-18

<PAGE>

Dates is in excess of the amounts distributed in respect of the Class B-5
Certificates on prior Distribution Dates pursuant to Paragraph seventeenth of
Section 4.01(a).

          Class B-6 Certificate: Any one of the Certificates executed by the
Trustee and authenticated by the Trustee or the Authenticating Agent in
substantially the form set forth in Exhibit B-6 and Exhibit C hereto.

          Class B-6 Certificateholder: The registered holder of a Class B-6
Certificate.

          Class B-6 Distribution Amount: As to any Distribution Date, any amount
distributable to the Holders of the Class B-6 Certificates pursuant to
Paragraphs nineteenth, twentieth and twenty-first of Section 4.01(a).

          Class B-6 Interest Shortfall Amount: As to any Distribution Date, any
amount by which the Interest Accrual Amount of the Class B-6 Certificates with
respect to such Distribution Date exceeds the amount distributed in respect of
the Class B-6 Certificates on such Distribution Date pursuant to Paragraph
nineteenth of Section 4.01(a).

          Class B-6 Optimal Principal Amount: As to any Distribution Date and
each Outstanding Mortgage Loan, an amount equal to the sum of

(I) the sum of:

          (i)   the Class B-6 Percentage of the principal portion of the Monthly
     Payment due on the Due Date occurring in the month of such Distribution
     Date on such Mortgage Loan;

          (ii)  the Class B-6 Prepayment Percentage of all Unscheduled Principal
     Receipts (other than Recoveries) that were received by a Servicer with
     respect to such Mortgage Loan during the Applicable Unscheduled Principal
     Receipt Period relating to such Distribution Date for each applicable type
     of Unscheduled Principal Receipt;

          (iii) the Class B-6 Prepayment Percentage of the Scheduled Principal
     Balance of such Mortgage Loan which, during the one month period ending on
     the day preceding the Determination Date for such Distribution Date, was
     repurchased by the Seller pursuant to Section 2.02 or 2.03; and

          (iv)  the Class B-6 Percentage of the excess of the unpaid principal
     balance of such Mortgage Loan substituted for a Mortgage Loan during the
     one month period ending on the day preceding the Determination Date for
     such Distribution Date over the unpaid principal balance of such Mortgage
     Loan, less the amount allocable to the principal portion of any
     unreimbursed Periodic Advances previously made by the applicable Servicer,
     the Master Servicer or the Trustee in respect of such Mortgage Loan; and

(II) the Class B-6 Prepayment Percentage of the Recovery for such Distribution
Date;

                                      I-19

<PAGE>

provided, however, that if an Optimal Adjustment Event occurs with respect to
such Class and such Distribution Date, the Class B-6 Optimal Principal Amount
will equal the lesser of (A) the Class B-6 Optimal Principal Amount calculated
as described in the preceding provisions and (B) the Adjusted Principal Balance
for the Class B-6 Certificates.

          Class B-6 Percentage: As to any Distribution Date, except as set forth
in the next sentence, the percentage calculated by multiplying (i) the
Subordinated Percentage by (ii) a fraction, the numerator of which is the Class
B-6 Principal Balance (determined as of the Determination Date preceding such
Distribution Date) and the denominator of which is the Class B Principal
Balance.

          Class B-6 Prepayment Percentage: As to any Distribution Date, except
as set forth in the next sentence, the percentage calculated by multiplying (i)
the Subordinated Prepayment Percentage by (ii) a fraction, the numerator of
which is the Class B-6 Principal Balance (determined as of the Determination
Date preceding such Distribution Date) and the denominator of which is (a) for
the purpose of allocating Liquidation Proceeds (other than Partial Liquidation
Proceeds) the Class B Principal Balance and (b) for the purpose of allocating
all other unscheduled principal distributions, the sum of the Principal Balances
of the Classes of Class B Certificates eligible to receive such unscheduled
principal distributions for such Distribution Date in accordance with the
provisions of Section 4.01(d). Except as set forth in Section 4.01(d)(ii), in
the event that the Class B-6 Certificates are not eligible to receive such
unscheduled principal in accordance with Section 4.01(d)(i), the Class B-6
Prepayment Percentage for such unscheduled principal distributions for such
Distribution Date will be zero.

          Class B-6 Principal Balance: As to the first Determination Date, the
Original Class B-6 Principal Balance. As of any subsequent Determination Date,
the Original Class B-6 Principal Balance less the sum of all amounts previously
distributed in respect of the Class B-6 Certificates on prior Distribution Dates
pursuant to Paragraph twenty-first of Section 4.01(a); provided, however, if the
Class B-6 Certificates are outstanding, the Class B-6 Principal Balance will
equal the difference, if any, between the Adjusted Pool Amount as of the
preceding Distribution Date less the sum of the Class A Principal Balance, the
Class B-1 Principal Balance, the Class B-2 Principal Balance, the Class B-3
Principal Balance, the Class B-4 Principal Balance and the Class B-5 Principal
Balance as of such Determination Date.

          Class B-6 Unpaid Interest Shortfall: As to any Distribution Date, the
amount, if any, by which the aggregate of the Class B-6 Interest Shortfall
Amounts for prior Distribution Dates is in excess of the amounts distributed in
respect of the Class B-6 Certificates on prior Distribution Dates pursuant to
Paragraph twentieth of Section 4.01(a).

          Clearing Agency: An organization registered as a "clearing agency"
pursuant to Section 17A of the Exchange Act. The initial Clearing Agency shall
be The Depository Trust Company.

          Clearing Agency Participant: A broker, dealer, bank, financial
institution or other Person for whom a Clearing Agency effects book-entry
transfers of securities deposited with the Clearing Agency.

                                      I-20

<PAGE>

          Closing Date: The date of initial issuance of the Certificates, as set
forth in Section 11.19.

          Code: The Internal Revenue Code of 1986, as it may be amended from
time to time, any successor statutes thereto, and applicable U.S. Department of
the Treasury temporary or final regulations promulgated thereunder.

          Compensating Interest: With respect to any Distribution Date, the
least of (a) the aggregate Prepayment Interest Shortfall on the Mortgage Loans
for such Distribution Date, (b) the product of (i) 1/12th of 0.20% and (ii) the
Pool Scheduled Principal Balance for such Distribution Date and (c) the
Available Master Servicing Compensation for such Distribution Date.

          Co-op Shares: Shares issued by private non-profit housing
corporations.

          Corporate Trust Office: The principal office of the Trustee at which
at any particular time its corporate trust business shall be administered, which
office, at the date of the execution of this instrument, is located at 401 South
Tryon Street, Charlotte, North Carolina 28288.

          Current Class A Interest Distribution Amount: As to any Distribution
Date, the amount distributed in respect of the Class A Certificates pursuant to
Paragraph first of Section 4.01(a) on such Distribution Date.

          Current Class B Interest Distribution Amount: As to any Distribution
Date, the amount distributed in respect of the Classes of Class B Certificates
pursuant to Paragraphs fourth, seventh, tenth, thirteenth, sixteenth and
nineteenth of Section 4.01(a) on such Distribution Date.

          Current Class B-1 Fractional Interest: As to any Distribution Date
subsequent to the first Distribution Date, the percentage obtained by dividing
the sum of the Principal Balances of the Class B-2, Class B-3, Class B-4, Class
B-5 and Class B-6 Certificates by the sum of the Class A Principal Balance and
the Class B Principal Balance. As to the first Distribution Date, the Original
Class B-1 Fractional Interest.

          Current Class B-2 Fractional Interest: As to any Distribution Date
subsequent to the first Distribution Date, the percentage obtained by dividing
the sum of the Principal Balances of the Class B-3, Class B-4, Class B-5 and
Class B-6 Certificates by the sum of the Class A Principal Balance and the Class
B Principal Balance. As to the first Distribution Date, the Original Class B-2
Fractional Interest.

          Current Class B-3 Fractional Interest: As to any Distribution Date
subsequent to the first Distribution Date, the percentage obtained by dividing
the sum of the Principal Balances of the Class B-4, Class B-5 and Class B-6
Certificates by the sum of the Class A Principal Balance and the Class B
Principal Balance. As to the first Distribution Date, the Original Class B-3
Fractional Interest.

                                      I-21

<PAGE>

          Current Class B-4 Fractional Interest: As to any Distribution Date
subsequent to the first Distribution Date, the percentage obtained by dividing
the sum of the Principal Balances of the Class B-5 and Class B-6 Certificates by
the sum of the Class A Principal Balance and the Class B Principal Balance. As
to the first Distribution Date, the Original Class B-4 Fractional Interest.

          Current Class B-5 Fractional Interest: As to any Distribution Date
subsequent to the first Distribution Date, the percentage obtained by dividing
the Principal Balance of the Class B-6 Certificates by the sum of the Class A
Principal Balance and the Class B Principal Balance. As to the first
Distribution Date, the Original Class B-5 Fractional Interest.

          Curtailment: Any Principal Prepayment made by a Mortgagor which is not
a Prepayment in Full.

          Curtailment Interest Shortfall: On any Distribution Date with respect
to a Mortgage Loan which was the subject of a Curtailment:

          (A)  in the case where the Applicable Unscheduled Principal Receipt
               Period is the Mid-Month Receipt Period and such Curtailment is
               received by the Servicer on or after the Determination Date in
               the month preceding the month of such Distribution Date but prior
               to the first day of the month of such Distribution Date, the
               amount of interest that would have accrued at the Net Mortgage
               Interest Rate on the amount of such Curtailment from the day of
               its receipt or, if earlier, its application by the Servicer
               through the last day of the month preceding the month of such
               Distribution Date; and

          (B)  in the case where the Applicable Unscheduled Principal Receipt
               Period is the Prior Month Receipt Period and such Curtailment is
               received by the Servicer during the month preceding the month of
               such Distribution Date, the amount of interest that would have
               accrued at the Net Mortgage Interest Rate on the amount of such
               Curtailment from the day of its receipt or, if earlier, its
               application by the Servicer through the last day of the month in
               which such Curtailment is received.

          Custodial Agreement: The Custodial Agreement, dated as of ______,
200_, among the Custodian, the Seller, the Master Servicer and the Trustee,
which agreement is attached hereto as Exhibit E, as the same may be amended or
modified from time to time in accordance with the terms thereof.

          Custodial P&I Account: The Custodial P&I Account, as defined in each
of the Servicing Agreements, with respect to the Mortgage Loans. In determining
whether the Custodial P&I Account under any Servicing Agreement is "acceptable"
to the Master Servicer (as may be required by the definition of "Eligible
Account" contained in the Servicing Agreements), the Master Servicer shall
require that any such account shall be acceptable to each of the Rating
Agencies.

                                      I-22

<PAGE>

          Custodian: Wells Fargo Bank, or its successor in interest under the
Custodial Agreement. Initially, the custodial functions shall be performed by
the Corporate Trust Services division of Wells Fargo Bank.

          Cut-Off Date: The first day of the month of initial issuance of the
Certificates as set forth in Section 11.01.

          Cut-Off Date Aggregate Principal Balance: The aggregate of the Cut-Off
Date Principal Balances of the Mortgage Loans is as set forth in Section 11.02.

          Cut-Off Date Principal Balance: As to each Mortgage Loan, its unpaid
principal balance as of the close of business on the Cut-Off Date (but without
giving effect to any Unscheduled Principal Receipts received or applied on the
Cut-Off Date), reduced by all payments of principal due on or before the Cut-Off
Date and not paid, and increased by scheduled monthly payments of principal due
after the Cut-Off Date but received by the related Servicer on or before the
Cut-Off Date.

          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.

          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 results in a permanent forgiveness of principal, which valuation or
reduction results from a proceeding under the Bankruptcy Code.

          Definitive Certificates: As defined in Section 5.01(b).

          Denomination: The amount, if any, specified on the face of each
Certificate representing the principal portion of the Cut-Off Date Aggregate
Principal Balance evidenced by such Certificate.

          Determination Date: The 17th day of the month in which the related
Distribution Date occurs, or if such 17th day is not a Business Day, the
Business Day preceding such 17th day.

          Distribution Date: The 25th day of any month, beginning in the month
following the month of initial issuance of the Certificates, or if such 25th day
is not a Business Day, the Business Day following such 25th day.

          Document Transfer Event: The ____ day following the day on which
either (i) Wells Fargo Bank is no longer the Servicer of any of the Mortgage
Loans or (ii) the senior, unsecured long-term debt rating of Wells Fargo &
Company is less than "BBB-" by Fitch.

          Due Date: With respect to any Mortgage Loan, the day of the month in
which the Monthly Payment on such Mortgage Loan is scheduled to be paid.

                                      I-23

<PAGE>

          Eligible Account: One or more accounts (i) that are maintained with a
depository institution (which may be the Master Servicer) whose long-term debt
obligations (or, in the case of a depository institution which is part of a
holding company structure, the long-term debt obligations of such parent holding
company) at the time of deposit therein are rated at least "AA" (or the
equivalent) by each Rating Agency, (ii) the deposits in which are fully insured
by the FDIC through either the Bank Insurance Fund or the Savings Association
Insurance Fund, (iii) the deposits in which are insured by the FDIC through
either the Bank Insurance Fund or the Savings Association Insurance Fund (to the
limit established by the FDIC) and the uninsured deposits in which accounts are
otherwise secured, as evidenced by an Opinion of Counsel delivered to the
Trustee, such that the Trustee, on behalf of the Certificateholders has a claim
with respect to the funds in such accounts or a perfected first security
interest against any collateral securing such funds that is superior to claims
of any other depositors or creditors of the depository institution with which
such accounts are maintained, (iv) that are trust accounts maintained with the
trust department of a federal or state chartered depository institution or trust
company acting in its fiduciary capacity or (v) such other account that is
acceptable to each of the Rating Agencies and would not cause the Trust Estate
to fail to qualify as a REMIC or result in the imposition of any federal tax on
the REMIC.

          Eligible Investments: At any time, any one or more of the following
obligations and securities which shall mature not later than the Business Day
preceding the Distribution Date next succeeding the date of such investment,
provided that such investments continue to qualify as "cash flow investments" as
defined in Code Section 860G(a)(6):

          (i)    obligations of the United States of America or any agency
     thereof, provided such obligations are backed by the full faith and credit
     of the United States of America;

          (ii)   general obligations of or obligations guaranteed by any state
     of the United States of America or the District of Columbia receiving the
     highest short-term or highest long-term rating of each Rating Agency, or
     such lower rating as would not result in the downgrading or withdrawal of
     the rating then assigned to any of the Certificates by either Rating Agency
     or result in any of such rated Certificates being placed on credit review
     status (other than for possible upgrading) by either Rating Agency;

          (iii)  commercial or finance company paper which is then rated in the
     highest long-term commercial or finance company paper rating category of
     each Rating Agency or the highest short-term rating category of each Rating
     Agency, or such lower rating category as would not result in the
     downgrading or withdrawal of the rating then assigned to any of the
     Certificates by either Rating Agency or result in any of such rated
     Certificates being placed on credit review status (other than for possible
     upgrading) by either Rating Agency;

          (iv)   certificates of deposit, demand or time deposits, federal funds
     or banker's acceptances issued by any depository institution or trust
     company incorporated under the laws of the United States or of any state
     thereof and subject to supervision and examination by federal and/or state
     banking authorities, provided that the commercial paper and/or debt
     obligations of such depository institution or trust company (or in the

                                      I-24

<PAGE>

     case of the principal depository institution in a holding company system,
     the commercial paper or debt obligations of such holding company) are then
     rated in the highest short-term or the highest long-term rating category
     for such securities of each of the Rating Agencies, or such lower rating
     categories as would not result in the downgrading or withdrawal of the
     rating then assigned to any of the Certificates by either Rating Agency or
     result in any of such rated Certificates being placed on credit review
     status (other than for possible upgrading) by either Rating Agency;

          (v)    guaranteed reinvestment agreements issued by any bank,
     insurance company or other corporation acceptable to each Rating Agency at
     the time of the issuance of such agreements;

          (vi)   repurchase agreements on obligations with respect to any
     security described in clauses (i) or (ii) above or any other security
     issued or guaranteed by an agency or instrumentality of the United States
     of America, in either case entered into with a depository institution or
     trust company (acting as principal) described in (iv) above;

          (vii)  securities (other than stripped bonds or stripped coupon
     securities) bearing interest or sold at a discount issued by any
     corporation incorporated under the laws of the United States of America or
     any state thereof which, at the time of such investment or contractual
     commitment providing for such investment, are then rated in the highest
     short-term or the highest long-term rating category by each Rating Agency,
     or in such lower rating category as would not result in the downgrading or
     withdrawal of the rating then assigned to any of the Certificates by either
     Rating Agency or result in any of such rated Certificates being placed on
     credit review status (other than for possible upgrading) by either Rating
     Agency;

          (viii) such other investments acceptable to each Rating Agency as
     would not result in the downgrading of the rating then assigned to the
     Certificates by either Rating Agency or result in any of such rated
     Certificates being placed on credit review status (other than for possible
     upgrading) by either Rating Agency; and

          (ix)   any mutual fund, money market fund, common trust fund or other
     pooled investment vehicle, the assets of which are limited to instruments
     that otherwise would constitute Eligible Investments hereunder, including
     any such fund that is managed by the Trustee or any affiliate of the
     Trustee or for which the Trustee or any of its affiliates acts as an
     adviser as long as such fund is rated in at least the highest rating
     category by each Rating Agency.

          In no event shall an instrument be an Eligible Investment if such
instrument evidences either (i) a right to receive only interest payments with
respect to the obligations underlying such instrument, or (ii) both principal
and interest payments derived from obligations underlying such instrument and
the interest and principal payments with respect to such instrument provide a
yield to maturity at the date of investment of greater than 120% of the yield to
maturity at par of such underlying obligations.

          ERISA: The Employee Retirement Income Security Act of 1974, as
amended.

                                      I-25

<PAGE>

          ERISA Prohibited Holder: As defined in Section 5.02(d).

          Errors and Omissions Policy: As defined in each of the Servicing
Agreements.

          Event of Default: Any of the events specified in Section 7.01.

          Exchange Act: The Securities Exchange Act of 1934, as amended.

          FDIC: The Federal Deposit Insurance Corporation or any successor
thereto.

          Fidelity Bond: As defined in each of the Servicing Agreements.

          Final Distribution Date: The Distribution Date on which the final
distribution in respect of the Certificates is made pursuant to Section 9.01.

          Final Scheduled Maturity Date: The Final Scheduled Maturity Date for
each Class of Certificates is _______, 20__, which corresponds to the "latest
possible maturity date" for purposes of Section 860G(a)(1) of the Internal
Revenue Code of 1986, as amended.

          Fitch: Fitch Ratings, or its successor in interest.

          Gross Margin: As to each Mortgage Loan, the fixed percentage set forth
in the related Mortgage Note and indicated in the Mortgage Loan Schedule as the
"Gross Margin," which percentage is added to the Index on each Adjustment Date
to determine (subject to rounding, the Periodic Cap and the Rate Ceiling) the
Mortgage Interest Rate on such Mortgage Loan until the next Adjustment Date.

          Full Unscheduled Principal Receipt: Any Unscheduled Principal Receipt
with respect to a Mortgage Loan (i) in the amount of the outstanding principal
balance of such Mortgage Loan and resulting in the full satisfaction of such
Mortgage Loan or (ii) representing Liquidation Proceeds other than Partial
Liquidation Proceeds.

          Holder: See "Certificateholder."

          Independent: When used with respect to any specified Person, such
Person who (i) is in fact independent of the Seller, the Master Servicer and any
Servicer, (ii) does not have any direct financial interest or any material
indirect financial interest in the Seller or the Master Servicer or any Servicer
or in an affiliate of either and (iii) is not connected with the Seller, the
Master Servicer or any Servicer as an officer, employee, promoter, underwriter,
trustee, partner, director or person performing similar functions.

          Index: As to any Mortgage Loan and Adjustment Date, a rate per annum
that is defined to be the weekly average yield on United States Treasury
Securities adjusted to a constant maturity of one year, as made available by the
Federal Reserve Board, published in Federal Reserve Statistical Release H.15
(519) and most recently available as of the date 45 days before the applicable
Adjustment Date. In the event such Index is no longer available, the applicable
Servicer will select a substitute Index in accordance with the terms of the
related Mortgage Note and in compliance with federal and state law.

                                      I-26

<PAGE>

          Insurance Policy: Any insurance or performance bond relating to a
Mortgage Loan or the Mortgage Loans, including any hazard insurance, special
hazard insurance, flood insurance, primary mortgage insurance, mortgagor
bankruptcy bond or title insurance.

          Insurance Proceeds: Proceeds paid by any insurer pursuant to any
Insurance Policy covering a Mortgage Loan.

          Insured Expenses: Expenses covered by any Insurance Policy covering a
Mortgage Loan.

          Interest Accrual Amount: As to any Distribution Date and any Class of
Class A Certificates, (i) the product of (a) 1/12/th/ of the Class A
Pass-Through Rate for such Class and (b) the Principal Balance of such Class as
of the Determination Date immediately preceding such Distribution Date minus
(ii) the Class A Interest Percentage of such Class of (a) any Non-Supported
Interest Shortfall allocated to the Class A Certificates with respect to such
Distribution Date, (b) any Relief Act Shortfall allocated to such Class and (c)
the interest portion of any Realized Losses allocated to the Class A
Certificates on or after the Subordination Depletion Date pursuant to Section
4.02(c).

          As to any Distribution Date and any Class of Class B Certificates, an
amount equal to (i) the product of 1/12th of the Class B Pass-Through Rate and
the Principal Balance of such Class as of the Determination Date preceding such
Distribution Date minus (ii) the Class B Interest Percentage of such Class of
the sum of any Non-Supported Interest Shortfall and any Relief Act Shortfall
allocated to the Class B Certificates with respect to such Distribution Date.

          Liquidated Loan: A Mortgage Loan with respect to which the related
Mortgaged Property has been acquired, liquidated or foreclosed and with respect
to which the applicable Servicer determines that all Liquidation Proceeds which
it expects to recover have been recovered.

          Liquidated Loan Loss: With respect to any Distribution Date, the
aggregate of the amount of losses with respect to each Mortgage Loan which
became a Liquidated Loan during the Applicable Unscheduled Principal Receipt
Period with respect to Full Unscheduled Principal Receipts for such Distribution
Date, equal to the excess of (i) the unpaid principal balance of each such
Liquidated Loan, plus accrued interest thereon in accordance with the
amortization schedule at the time applicable thereto at the applicable Net
Mortgage Interest Rate from the Due Date as to which interest was last paid with
respect thereto through the last day of the month preceding the month in which
such Distribution Date occurs, over (ii) Net Liquidation Proceeds with respect
to such Liquidated Loan.

          Liquidation Expenses: Expenses incurred by a Servicer in connection
with the liquidation of any defaulted Mortgage Loan or property acquired in
respect thereof (including, without limitation, legal fees and expenses,
committee or referee fees, and, if applicable, brokerage commissions and
conveyance taxes), any unreimbursed advances expended by such Servicer pursuant
to its Servicing Agreement or the Master Servicer or Trustee pursuant hereto
respecting the related Mortgage Loan, including any unreimbursed advances for
real property taxes or for property restoration or preservation of the related
Mortgaged Property. Liquidation

                                      I-27

<PAGE>

Expenses shall not include any previously incurred expenses in respect of an REO
Mortgage Loan which have been netted against related REO Proceeds.

          Liquidation Proceeds: Amounts received by a Servicer (including
Insurance Proceeds) or PMI Advances made by a Servicer in connection with the
liquidation of defaulted Mortgage Loans or property acquired in respect thereof,
whether through foreclosure, sale or otherwise, including payments in connection
with such Mortgage Loans received from the Mortgagor, other than amounts
required to be paid to the Mortgagor pursuant to the terms of the applicable
Mortgage or to be applied otherwise pursuant to law.

          Liquidation Profits: As to any Distribution Date and any Mortgage Loan
that became a Liquidated Loan during the Applicable Unscheduled Principal
Receipt Period with respect to Full Unscheduled Principal Receipts for such
Distribution Date, the excess, if any, of (i) Net Liquidation Proceeds in
respect of such Liquidated Loan over (ii) the unpaid principal balance of such
Liquidated Loan plus accrued interest thereon in accordance with the
amortization schedule at the time applicable thereto at the applicable Net
Mortgage Interest Rate from the Due Date to which interest was last paid with
respect thereto through the last day of the month preceding the month in which
such Distribution Date occurs.

          Loan-to-Value Ratio: The ratio, expressed as a percentage, the
numerator of which is the principal balance of a particular Mortgage Loan at
origination and the denominator of which is the lesser of (x) the appraised
value of the related Mortgaged Property determined in the appraisal used by the
originator at the time of origination of such Mortgage Loan, and (y) if the
Mortgage is originated in connection with a sale of the Mortgaged Property, the
sale price for such Mortgaged Property.

          Master Servicer: Wells Fargo Bank, or its successor in interest.
Initially the Master Servicer functions shall be performed by the Corporate
Trust Services division of Wells Fargo Bank.

          Master Servicing Fee: With respect to any Mortgage Loan and any
Distribution Date, the fee payable monthly to the Master Servicer pursuant to
Section 6.05 equal to a fixed percentage (expressed as a per annum rate) of the
unpaid principal balance of such Mortgage Loan.

          Master Servicing Fee Rate: As set forth in Section 11.24.

          MERS: The Mortgage Electronic Registration Systems, Inc.

          MERS Mortgage Loan: Any MOM Mortgage Loan or any other Mortgage Loan
as to which MERS is (or is intended to be) the mortgagee of record and as to
which a MIN has been assigned.

          MIN: A MERS Mortgage Identification Number assigned to a Mortgage Loan
in accordance with the MERS Procedure Manual.

                                      I-28

<PAGE>

          MOM: A Mortgage Loan where the related Mortgage names MERS as the
original mortgagee thereof, as to which a MIN has been assigned, and which
Mortgage has not been assigned to any other person.

          Mid-Month Receipt Period: With respect to each Distribution Date, the
one month period beginning on the Determination Date (or, in the case of the
first Distribution Date, from and including the Cut-Off Date) occurring in the
calendar month preceding the month in which such Distribution Date occurs and
ending on the day preceding the Determination Date immediately preceding such
Distribution Date.

          Month End Interest: As defined in each Servicing Agreement.

          Monthly Payment: As to any Mortgage Loan (including any REO Mortgage
Loan) 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 for any Curtailments and Deficient Valuations occurring prior to such
Due Date but before any adjustment to such amortization schedule, other than for
Deficient Valuations, by reason of any bankruptcy 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: The mortgage, deed of trust or other instrument creating a
first lien on Mortgaged Property securing a Mortgage Note together with any
Mortgage Loan Rider, if applicable.

          Mortgage Interest Rate: As to any Mortgage Loan, the per annum rate at
which interest accrues on the unpaid principal balance thereof as set forth in
the related Mortgage Note, which rate is as indicated on the Mortgage Loan
Schedule.

          Mortgage Loan Purchase Agreement: The mortgage loan purchase agreement
dated as of ______, 200_ between Wells Fargo Bank, as seller, and the Seller, as
purchaser.

          Mortgage Loan Rider: The standard Fannie Mae/Freddie Mac riders to the
Mortgage Note and/or Mortgage riders required when the Mortgaged Property is a
condominium unit or a unit in a planned unit development.

          Mortgage Loan Schedule: The list of the Mortgage Loans transferred to
the Trustee on the Closing Date as part of the Trust Estate and attached hereto
as Exhibit F-1, which list may be amended following the Closing Date upon
conveyance of a Substitute Mortgage Loan pursuant to Section 2.02, 2.03 or 2.06
and which list may be amended following the Closing Date upon conveyance of a
Substitute Mortgage Loan pursuant to Section 2.02, 2.03 or 2.06 and which list
shall set forth at a minimum the following information as of the close of
business on the Cut-Off Date (or, with respect to Substitute Mortgage Loans, as
of the close of business on the day of substitution) as to each Mortgage Loan:

          (i)     the Mortgage Loan identifying number;

          (ii)    the city, state and zip code of the Mortgaged Property;

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          (iii)   the type of property;

          (iv)    the Mortgage Interest Rate;

          (v)     the Net Mortgage Interest Rate;

          (vi)    the Monthly Payment;

          (vii)   the original number of months to maturity;

          (viii)  the scheduled maturity date;

          (ix)    the Cut-Off Date Principal Balance;

          (x)     the Loan-to-Value Ratio at origination;

          (xi)    whether such Mortgage Loan is covered by primary mortgage
                  insurance;

          (xii)   the applicable Servicing Fee Rate;

          (xiii)  the Master Servicing Fee Rate;

          (xiv)   the Index;

          (xv)    the Gross Margin;

          (xvi)   the Periodic Cap;

          (xvii)  the first Adjustment Date;

          (xviii) the Rate Ceiling; and

          (xix)   for each Other Servicer Mortgage Loan, the name of the
                  Servicer with respect thereto.

          Such schedule may consist of multiple reports that collectively set
forth all of the information required.

          Mortgage Loans: Each of the mortgage loans transferred and assigned to
the Trustee on the Closing Date pursuant to Section 2.01(a) and any mortgage
loans substituted therefor pursuant to Section 2.02, 2.03 or 2.06, in each case
as from time to time are included in the Trust Estate as identified in the
Mortgage Loan Schedule.

          Mortgage Note: The note or other evidence of indebtedness evidencing
the indebtedness of a Mortgagor under a Mortgage Loan together with any related
Mortgage Loan Riders, if applicable.

          Mortgaged Property: The property subject to a Mortgage, which may
include Co-op Shares or residential long-term leases.

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<PAGE>

          Mortgagor: The obligor on a Mortgage Note.

          Net Liquidation Proceeds: As to any defaulted Mortgage Loan,
Liquidation Proceeds net of Liquidation Expenses.

          Net Mortgage Interest Rate: With respect to each Mortgage Loan, a rate
equal to (i) the Mortgage Interest Rate on such Mortgage Loan minus (ii) the sum
of (a) the applicable Servicing Fee Rate, as set forth in Section 11.23 with
respect to such Mortgage Loan and (b) the Master Servicing Fee Rate, as set
forth in Section 11.24 with respect to such Mortgage Loan. Any regular monthly
computation of interest at such rate shall be based upon annual interest at such
rate on the applicable amount divided by twelve.

          Net REO Proceeds: As to any REO Mortgage Loan, REO Proceeds net of any
related expenses of the Servicer.

          Non-permitted Foreign Holder: As defined in Section 5.02(d).

          Nonrecoverable Advance: Any portion of a Periodic Advance previously
made or proposed to be made in respect of a Mortgage Loan which has not been
previously reimbursed to the Servicer, the Master Servicer or the Trustee, as
the case may be, and which the Servicer, the Master Servicer or the Trustee
determines will not, or in the case of a proposed Periodic Advance would not, be
ultimately recoverable from Liquidation Proceeds or other recoveries in respect
of the related Mortgage Loan. The determination by the Servicer, the Master
Servicer or the Trustee (i) that it has made a Nonrecoverable Advance or (ii)
that any proposed Periodic Advance, if made, would constitute a Nonrecoverable
Advance, shall be evidenced by an Officer's Certificate of the Servicer
delivered to the Master Servicer for redelivery to the Trustee or, in the case
of a Master Servicer determination, an Officer's Certificate of the Master
Servicer delivered to the Trustee, in each case detailing the reasons for such
determination.

          Non-Supported Interest Shortfall: With respect to any Distribution
Date, the sum of (i) the excess, if any, of the aggregate Prepayment Interest
Shortfall on the Mortgage Loans over the aggregate Compensating Interest with
respect to such Distribution Date and (ii) Curtailment Interest Shortfalls with
respect to such Distribution Date. With respect to each Distribution Date
occurring on or after the Subordination Depletion Date, the Non-Supported
Interest Shortfall determined pursuant to the preceding sentence will be
increased by the amount of any Subordination Depletion Date Interest Shortfall
for such Distribution Date. Any Non-Supported Interest Shortfall will be
allocated to (a) the Class A Certificates according to the percentage obtained
by dividing the Class A Principal Balance by the sum of the Class A Principal
Balance and the Class B Principal Balance and (b) the Class B Certificates
according to the percentage obtained by dividing the Class B Principal Balance
by the sum of the Class A Principal Balance and the Class B Principal Balance.

          Non-U.S. Person: As defined in Section 4.01(f).

          NYCEMA: A New York Consolidation, Extension and Modification
Agreement.

          Officers' Certificate: With respect to any Person, a certificate
signed by the Chairman of the Board, the President or a Vice President, and by
the Treasurer, the Secretary or

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<PAGE>

one of the Assistant Treasurers or Assistant Secretaries of such Person (or, in
the case of a Person which is not a corporation, signed by the person or persons
having like responsibilities), and delivered to the Trustee.

          Opinion of Counsel: A written opinion of counsel, who may be outside
or salaried counsel for the Seller, a Servicer or the Master Servicer, or any
affiliate of the Seller, a Servicer or the Master Servicer, acceptable to the
Trustee if such opinion is to be delivered to the Trustee; provided, however,
that with respect to REMIC matters, matters relating to the determination of
Eligible Accounts or matters relating to transfers of Certificates, such counsel
shall be Independent.

          Optimal Adjustment Event: With respect to any Class of Class B
Certificates and any Distribution Date, an Optimal Adjustment Event will occur
with respect to such Class if: (i) the Principal Balance of such Class on the
Determination Date succeeding such Distribution Date would have been reduced to
zero (regardless of whether such Principal Balance was reduced to zero as a
result of principal distribution or the allocation of Realized Losses) and (ii)
(a) the Principal Balance of any Class of Class A Certificates would be subject
to further reduction as a result of the third sentence of the definition of
Principal Balance or (b) the Principal Balance of a Class of Class B
Certificates with a lower numerical designation would be reduced with respect to
such Distribution Date as a result of the application of the proviso in the
definition of Class B-1 Principal Balance, Class B-2 Principal Balance, Class
B-3 Principal Balance, Class B-4 Principal Balance, Class B-5 Principal Balance
or Class B-6 Principal Balance.

          Original Class A Percentage: The Class A Percentage as of the Cut-Off
Date, as set forth in Section 11.03.

          Original Class A Principal Balance: The sum of the Original Principal
Balances of the Class A-1 Certificates, Class A-2 Certificates, Class A-3
Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-6
Certificates, Class A-7 Certificates, Class A-8 Certificates, Class A-9
Certificates, Class A-10 Certificates, Class A-11 Certificates and Class A-R
Certificate, as set forth in Section 11.04.

          Original Class B Principal Balance: The sum of the Original Class B-1
Principal Balance, Original Class B-2 Principal Balance, Original Class B-3
Principal Balance, Original Class B-4 Principal Balance, Original Class B-5
Principal Balance and Original Class B-6 Principal Balance, as set forth in
Section 11.06.

          Original Class B-1 Fractional Interest: As to the first Distribution
Date, the percentage obtained by dividing the sum of the Original Class B-2
Principal Balance, the Original Class B-3 Principal Balance, the Original Class
B-4 Principal Balance, the Original Class B-5 Principal Balance and the Original
Class B-6 Principal Balance by the sum of the Original Class A Principal Balance
and the Original Class B Principal Balance. The Original Class B-1 Fractional
Interest is specified in Section 11.08.

          Original Class B-2 Fractional Interest: As to the first Distribution
Date, the percentage obtained by dividing the sum of the Original Class B-3
Principal Balance, the

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Original Class B-4 Principal Balance, the Original Class B-5 Principal Balance
and the Original Class B-6 Principal Balance by the sum of the Original Class A
Principal Balance and the Original Class B Principal Balance. The Original Class
B-2 Fractional Interest is specified in Section 11.09.

          Original Class B-3 Fractional Interest: As to the first Distribution
Date, the percentage obtained by dividing the sum of the Original Class B-4
Principal Balance, the Original Class B-5 Principal Balance and the Original
Class B-6 Principal Balance by the sum of the Original Class A Principal Balance
and the Original Class B Principal Balance. The Original Class B-3 Fractional
Interest is specified in Section 11.10.

          Original Class B-4 Fractional Interest: As to the first Distribution
Date, the percentage obtained by dividing the sum of the Original Class B-5
Principal Balance and the Original Class B-6 Principal Balance by the sum of the
Original Class A Principal Balance and the Original Class B Principal Balance.
The Original Class B-4 Fractional Interest is specified in Section 11.11.

          Original Class B-5 Fractional Interest: As to the first Distribution
Date, the percentage obtained by dividing the Original Class B-6 Principal
Balance by the sum of the Original Class A Principal Balance and the Original
Class B Principal Balance. The Original Class B-5 Fractional Interest is
specified in Section 11.12.

          Original Class B-1 Percentage: The Class B-1 Percentage as of the
Cut-Off Date, as set forth in Section 11.13.

          Original Class B-2 Percentage: The Class B-2 Percentage as of the
Cut-Off Date, as set forth in Section 11.14.

          Original Class B-3 Percentage: The Class B-3 Percentage as of the
Cut-Off Date, as set forth in Section 11.15.

          Original Class B-4 Percentage: The Class B-4 Percentage as of the
Cut-Off Date, as set forth in Section 11.16.

          Original Class B-5 Percentage: The Class B-5 Percentage as of the
Cut-Off Date, as set forth in Section 11.17.

          Original Class B-6 Percentage: The Class B-6 Percentage as of the
Cut-Off Date, as set forth in Section 11.18.

          Original Class B-1 Principal Balance: The Class B-1 Principal Balance
as of the Cut-Off Date, as set forth in Section 11.07.

          Original Class B-2 Principal Balance: The Class B-2 Principal Balance
as of the Cut-Off Date, as set forth in Section 11.07.

          Original Class B-3 Principal Balance: The Class B-3 Principal Balance
as of the Cut-Off Date, as set forth in Section 11.07.

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<PAGE>

          Original Class B-4 Principal Balance: The Class B-4 Principal Balance
as of the Cut-Off Date, as set forth in Section 11.07.

          Original Class B-5 Principal Balance: The Class B-5 Principal Balance
as of the Cut-Off Date, as set forth in Section 11.07.

          Original Class B-6 Principal Balance: The Class B-6 Principal Balance
as of the Cut-Off Date, as set forth in Section 11.07.

          Original Principal Balance: Any of the Original Principal Balances of
the Classes of Class A Certificates as set forth in Section 11.04; the Original
Class B-1 Principal Balance, Original Class B-2 Principal Balance, Original
Class B-3 Principal Balance, Original Class B-4 Principal Balance, Original
Class B-5 Principal Balance or Original Class B-6 Principal Balance as set forth
in Section 11.07.

          Original Subordinated Percentage: The Subordinated Percentage as of
the Cut-Off Date, as set forth in Section 11.05.

          Other Servicer: Any of the Servicers other than Wells Fargo Bank

          Other Servicer Mortgage Loan: Any of the Mortgage Loans, if any,
identified in Exhibit F-2 hereto, as such Exhibit may be amended from time to
time in connection with a substitution pursuant to Section 2.02 or 2.06, which
Mortgage Loan is serviced under an Other Servicing Agreement.

          Other Servicing Agreements: The Servicing Agreements other than the
Wells Fargo Bank Servicing Agreement.

          Outstanding Mortgage Loan: As to any Due Date, a Mortgage Loan
(including an REO Mortgage Loan) which was not the subject of a Full Unscheduled
Principal Receipt prior to such Due Date and which was not repurchased by the
Seller prior to such Due Date pursuant to Section 2.02 or 2.03.

          Owner Mortgage Loan File: A file maintained by the Custodian for each
Mortgage Loan that contains the documents specified in Section 2.01(a) and any
additional documents required to be added to the Owner Mortgage Loan File
pursuant to this Agreement.

          PAC Certificates: The Class A-8 and Class A-9 Certificates.

          PAC Principal Amount: As defined in Section 4.01(b).

          Partial Liquidation Proceeds: Liquidation Proceeds received by a
Servicer prior to the Unscheduled Principal Receipt Period in which the related
Mortgage Loan became a Liquidated Loan.

          Partial Unscheduled Principal Receipt: An Unscheduled Principal
Receipt which is not a Full Unscheduled Principal Receipt.

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<PAGE>

          Paying Agent: The Person authorized on behalf of the Trustee, as agent
for the Master Servicer, to make distributions to Certificateholders with
respect to the Certificates and to forward to Certificateholders the periodic
and annual statements required by Section 4.04. The Paying Agent may be any
Person directly or indirectly controlling or controlled by or under common
control with the Master Servicer and may be the Trustee. The initial Paying
Agent is appointed in Section 4.03(a).

          Payment Account: The account maintained pursuant to Section 4.03(b).

          Percentage Interest: With respect to a Class A Certificate, the
undivided percentage interest obtained by dividing the original principal
balance of such Certificate by the Original Principal Balance of such Class of
Class A Certificates. With respect to a Class B Certificate of a Class, the
undivided percentage interest obtained by dividing the original principal
balance of such Certificate by the Original Principal Balance of such Class of
Class B Certificates.

          Periodic Advance: The aggregate of the advances required to be made by
a Servicer on any Distribution Date pursuant to its Servicing Agreement or by
the Master Servicer or the Trustee hereunder, the amount of any such advances
being equal to the total of all Monthly Payments (adjusted, in each case (i) in
respect of interest, to the applicable Mortgage Interest Rate less the Servicing
Fee in the case of Periodic Advances made by a Servicer and to the applicable
Net Mortgage Interest Rate in the case of Periodic Advances made by the Master
Servicer or Trustee and (ii) by the amount of any related Debt Service
Reductions or reductions in the amount of interest collectable from the
Mortgagor pursuant to the Servicemembers Civil Relief Act, as it may be amended
from time to time, or similar legislation or regulations then in effect) on the
Mortgage Loans, that (x) were delinquent as of the close of business on the
related Determination Date, (y) were not the subject of a previous Periodic
Advance by such Servicer or of a Periodic Advance by the Master Servicer or the
Trustee, as the case may be and (z) have not been determined by the Master
Servicer, such Servicer or Trustee to be Nonrecoverable Advances.

          Periodic Cap: For each Mortgage Loan, the applicable limit on
adjustment of the Mortgage Interest Rate for each Adjustment Date specified in
the applicable Mortgage Note and designated as such in the Mortgage Loan
Schedule.

          Person: Any individual, corporation, partnership, joint venture,
association, joint-stock company, trust, unincorporated organization or
government or any agency or political subdivision thereof.

          Plan: As defined in Section 5.02(c).

          PMI Advance: As defined in the related Servicing Agreement, if
applicable.

          Pool Balance: As of any Distribution Date, the sum of the amounts for
each Mortgage Loan that is an Outstanding Mortgage Loan of the Scheduled
Principal Balance of such Mortgage Loan.

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<PAGE>

          Pool Distribution Amount: As of any Distribution Date, the funds
eligible for distribution to the Class A Certificates and Class B Certificates
on such Distribution Date, which shall be the sum of (i) all previously
undistributed payments or other receipts on account of principal and interest on
or in respect of the Mortgage Loans (including, without limitation, the proceeds
of any repurchase of a Mortgage Loan by the Seller and any Substitution
Principal Amount) received by the Master Servicer with respect to the applicable
Remittance Date in the month of such Distribution Date and any Unscheduled
Principal Receipts received by the Master Servicer on or prior to the Business
Day preceding such Distribution Date, (ii) all Periodic Advances made by a
Servicer pursuant to the related Servicing Agreement or Periodic Advances made
by the Master Servicer or the Trustee pursuant to Section 3.03, (iii) any
remaining Reimbursement Amount as provided in Section 4.01(a) and (iv) all other
amounts required to be placed in the Certificate Account by the Servicer on or
before the applicable Remittance Date or by the Master Servicer or the Trustee
on or prior to the Distribution Date, but excluding the following:

          (a)  amounts received as late payments of principal or interest and
     respecting which the Master Servicer or the Trustee has made one or more
     unreimbursed Periodic Advances;

          (b)  the portion of Liquidation Proceeds used to reimburse any
     unreimbursed Periodic Advances by the Master Servicer or the Trustee;

          (c)  those portions of each payment of interest on a particular
     Mortgage Loan which represent (i) the Servicing Fee and (ii) the Master
     Servicing Fee;

          (d)  all amounts representing scheduled payments of principal and
     interest due after the Due Date occurring in the month in which such
     Distribution Date occurs;

          (e)  all Unscheduled Principal Receipts received by the Servicers
     after the Applicable Unscheduled Principal Receipt Period relating to the
     Distribution Date for the applicable type of Unscheduled Principal Receipt,
     and all related payments of interest on such amounts;

          (f)  all repurchase proceeds with respect to Mortgage Loans
     repurchased by the Seller pursuant to Section 2.02, 2.03 or 3.08 on or
     following the Determination Date in the month in which such Distribution
     Date occurs and the difference between the unpaid principal balance of a
     Mortgage Loan substituted for a Mortgage Loan pursuant to Section 2.02,
     2.03 or 2.06 on or following the Determination Date in the month in which
     such Distribution Date occurs and the unpaid principal balance of such
     Mortgage Loan;

          (g)  that portion of Liquidation Proceeds and REO Proceeds which
     represents any unpaid Servicing Fee or Master Servicing Fee;

          (h)  all income from Eligible Investments that is held in the
     Certificate Account for the account of the Master Servicer;

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<PAGE>

          (i)  all other amounts permitted to be withdrawn from the Certificate
     Account in respect of the Mortgage Loans, to the extent not covered by
     clauses (a) through (h) above, or not required to be deposited in the
     Certificate Account under this Agreement;

          (j)  Liquidation Profits;

          (k)  Month End Interest; and

          (l)  all amounts reimbursable to a Servicer for PMI Advances.

          Pool Scheduled Principal Balance: As to any Distribution Date, the
aggregate Scheduled Principal Balances of all Mortgage Loans that were
Outstanding Mortgage Loans on the Due Date in the month preceding the month of
such Distribution Date.

          Prepayment In Full: With respect to any Mortgage Loan, a Mortgagor
payment consisting of a Principal Prepayment in the amount of the outstanding
principal balance of such loan and resulting in the full satisfaction of such
obligation.

          Prepayment Interest Shortfall: On any Distribution Date, the amount of
interest, if any, that would have accrued on any Mortgage Loan which was the
subject of a Prepayment in Full at the Net Mortgage Interest Rate for such
Mortgage Loan from the date of its Prepayment in Full (but in the case of a
Prepayment in Full where the Applicable Unscheduled Principal Receipt Period is
the Mid-Month Receipt Period, only if the date of the Prepayment in Full is on
or after the Determination Date in the month prior to the month of such
Distribution Date and prior to the first day of the month of such Distribution
Date) through the last day of the month prior to the month of such Distribution
Date.

          Principal Adjustment: In the event that the Class B-1 Optimal
Principal Amount, Class B-2 Optimal Principal Amount, Class B-3 Optimal
Principal Amount, Class B-4 Optimal Principal Amount, Class B-5 Optimal
Principal Amount or Class B-6 Optimal Principal Amount is calculated in
accordance with the proviso in such definition with respect to any Distribution
Date, the Principal Adjustment for such Class of Class B Certificates shall
equal the difference between (i) the amount that would have been distributed to
such Class as principal in accordance with Section 4.01(a) for such Distribution
Date, calculated without regard to such proviso and assuming there are no
Principal Adjustments for such Distribution Date and (ii) the Adjusted Principal
Balance for such Class.

          Principal Balance: As of the first Determination Date and as to any
Class of Class A Certificates, the Original Principal Balance of such Class. As
of any subsequent Determination Date prior to the Subordination Depletion Date
and as to any Class of Class A Certificates, the Original Principal Balance of
such Class less the sum of all amounts previously distributed in respect of such
Class on prior Distribution Dates (i) pursuant to Paragraph third of Section
4.01(a) and (ii) as a result of a Principal Adjustment. After the Subordination
Depletion Date, each such Principal Balance of a Class of Class A Certificates
will also be reduced (if clause (i) is greater than clause (ii)) or increased
(if clause (i) is less than clause (ii)) on each Determination Date by an amount
equal to the product of the Class A Loss Percentage of such Class and the
difference, if any, between (i) the Class A Principal Balance as of such
Determination Date without regard to this sentence and (ii) the Adjusted Pool
Amount for the

                                      I-37

<PAGE>

preceding Distribution Date; provided, however, that the amount of any such
reduction for the Class A-6 Certificates and Class A-7 Certificates will be
decreased by the Class A-11 Loss Allocation Amount. In addition, any increase
allocated to the Class A-6 and Class A-7 Certificates pursuant to the third
sentence above will instead increase the Principal Balance of the Class A-11
Certificates. Notwithstanding the foregoing, on any Distribution Date in which
the sum of the Class A-6 Loss Amount and Class A-7 Loss Amount exceeds the
Principal Balance of the Class A-11 Certificates prior to any reduction for the
Class A-11 Loss Allocation Amount, such excess will be distributed, pro rata,
based on the Class A-6 and Class A-7 Loss Amounts, in reduction of the Principal
Balances of the Class A-6 and Class A-7 Certificates.

          As to the Class B Certificates, the Class B-1 Principal Balance, Class
B-2 Principal Balance, Class B-3 Principal Balance, Class B-4 Principal Balance,
Class B-5 Principal Balance and Class B-6 Principal Balance, respectively.

          Notwithstanding the foregoing, no Principal Balance of a Class will be
increased on any Determination Date such that the Principal Balance of such
Class exceeds its Original Principal Balance less all amounts previously
distributed in respect of such Class on prior Distribution Dates pursuant to
Paragraph third of Section 4.01(a) or Paragraphs sixth, ninth, twelfth,
fifteenth, eighteenth or twenty-first of Section 4.01(a).

          Principal Prepayment: Any Mortgagor payment on a Mortgage Loan which
is received in advance of its Due Date and is not accompanied by an amount
representing scheduled interest for any period subsequent to the date of
prepayment.

          Prior Month Receipt Period: With respect to each Distribution Date,
the calendar month preceding the month in which such Distribution Date occurs.

          Prohibited Transaction Tax: Any tax imposed under Section 860F of the
Code.

          Prospectus: The prospectus dated ______, 200_ as supplemented by the
prospectus supplement dated ______, 200_, relating to the Class A, Class B-1,
Class B-2 and Class B-3 Certificates.

          Prudent Servicing Practices: The standard of care set forth in each
Servicing Agreement.

          Rating Agency: Any nationally recognized statistical credit rating
agency, or its successor, that rated one or more Classes of the Certificates at
the request of the Seller at the time of the initial issuance of the
Certificates. The Rating Agencies for the Class A Certificates are ____ and
_______. The Rating Agency for the Class B-1, Class B-2, Class B-3, Class B-4
and Class B-5 Certificates is ___. If any such 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 Seller, notice of which
designation shall be given to the Trustee and the Master Servicer. References
herein to the highest short-term rating category of a Rating Agency shall mean
___ in the case of ___, ____ in the case of _______ and in the case of any other
Rating Agency shall mean its equivalent of such ratings. References herein to
the highest long-term rating categories of a Rating Agency shall mean ___ in the
case of ___ and ___ in the case of

                                      I-38

<PAGE>

_______, and in the case of any other Rating Agency shall mean its equivalent of
such ratings without any plus or minus.

          Realized Losses: With respect to any Distribution Date, (i) Liquidated
Loan Losses incurred on Liquidated Loans for which the Liquidation Proceeds were
received during the Applicable Unscheduled Principal Receipt Period with respect
to Full Unscheduled Principal Receipts with respect to such Distribution Date
and (ii) Bankruptcy Losses incurred during the period corresponding to the
Applicable Unscheduled Principal Receipt Period with respect to Full Unscheduled
Principal Receipts for such Distribution Date.

          Record Date: The last Business Day of the month preceding the month of
the related Distribution Date.

          Recovery: Any amount received on a Mortgage Loan subsequent to such
Mortgage Loan being determined to be a Liquidated Loan.

          Reimbursement Amount: As defined in Section 2.03(c).

          Relief Act Shortfall: Any interest shortfalls arising as a result of
the reduction in the amount of monthly interest payments on any Mortgage Loans
as a result of the application of the Servicemembers Civil Relief Act, as it may
be amended from time to time, or comparable state legislation. Any Relief Act
Shortfall will be allocated to (a) the Class A Certificates according to the
percentage obtained by dividing the Class A Principal Balance by the sum of the
Class A Principal Balance and the Class B Principal Balance and (b) the Class B
Certificates according to the percentage obtained by dividing the Class B
Principal Balance by the sum of the Class A Principal Balance and the Class B
Principal Balance.

          REMIC: A "real estate mortgage investment conduit" as defined in Code
Section 860D. "The REMIC" means the REMIC constituted by the Trust Estate.

          REMIC Provisions: Provisions of the federal income tax law relating to
REMICs, which appear at Sections 860A through 860G of Part IV of Subchapter M of
Chapter 1 of Subtitle A of the Code, and related provisions, and U.S. Department
of the Treasury temporary, proposed or final regulations promulgated thereunder,
as the foregoing are in effect (or with respect to proposed regulations, are
proposed to be in effect) from time to time.

          Remittance Date: As defined in each of the Servicing Agreements.

          REO Mortgage Loan: Any Mortgage Loan which is not a Liquidated Loan
and as to which the indebtedness evidenced by the related Mortgage Note is
discharged and the related Mortgaged Property is held as part of the Trust
Estate.

          REO Proceeds: Proceeds received in respect of any REO Mortgage Loan
(including, without limitation, proceeds from the rental of the related
Mortgaged Property).

          Request for Release: A request for release (which may be in electronic
form) in substantially the form attached as Exhibit G hereto.

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<PAGE>

          Responsible Officer: When used with respect to the Trustee, the
Chairman or Vice-Chairman of the Board of Directors or Trustees, the Chairman or
Vice-Chairman of the Executive or Standing Committee of the Board of Directors
or Trustees, the President, the Chairman of the Committee on Trust Matters, any
Vice President, the Secretary, any Assistant Secretary, the Treasurer, any
Assistant Treasurer, the Cashier, any Assistant Cashier, any Trust Officer or
Assistant Trust Officer, the Controller and any Assistant Controller or any
other officer of the Trustee customarily performing functions similar to those
performed by any of the above-designated officers and also, with respect to a
particular matter, any other officer to whom such matter is referred because of
such officer's knowledge of and familiarity with the particular subject.

          Retained Mortgage Loan File: A file maintained by Wells Fargo Bank
prior to any Document Transfer Event for each Mortgage Loan that contains the
documents specified in Section 2.01(b) and any additional documents required to
be added to the Retained Mortgage Loan File pursuant to this Agreement.

          Rule 144A: Rule 144A promulgated under the Securities Act of 1933, as
amended.

          S&P: Standard & Poor's, a division of The McGraw-Hill Companies, Inc.,
or its successor in interest.

          Scheduled Principal Balance: As to any Mortgage Loan and Distribution
Date, the principal balance of such Mortgage Loan as of the Due Date in the
month preceding the month of such Distribution Date as specified in the
amortization schedule at the time relating thereto (before any adjustment to
such amortization schedule by reason of any bankruptcy (other than Deficient
Valuations) or similar proceeding or any moratorium or similar waiver or grace
period) after giving effect to (A) Unscheduled Principal Receipts received or
applied by the applicable Servicer during the related Unscheduled Principal
Receipt Period for each applicable type of Unscheduled Principal Receipt related
to the Distribution Date occurring in the month preceding such Distribution
Date, (B) Deficient Valuations incurred prior to such Due Date and (C) the
payment of principal due on such Due Date and irrespective of any delinquency in
payment by the related Mortgagor. Accordingly, the Scheduled Principal Balance
of a Mortgage Loan which becomes a Liquidated Loan at any time through the last
day of such related Unscheduled Principal Receipt Period shall be zero.

          Seller: Wells Fargo Asset Securities Corporation, or its successor in
interest.

          Servicer Mortgage Loan File: As defined in each of the Servicing
Agreements.

          Servicers: Wells Fargo Bank, as a Servicer under the related Servicing
Agreement. Initially the servicing functions performed by Wells Fargo Bank shall
be performed by the Wells Fargo Home Mortgage division of Wells Fargo Bank.

          Servicing Agreements: Each of the Servicing Agreements executed with
respect to a portion of the Mortgage Loans by one of the Servicers, which
agreements are attached hereto, collectively, as Exhibit L.

                                      I-40

<PAGE>

          Servicing Fee: With respect to any Servicer, as defined in its
Servicing Agreement.

          Servicing Fee Rate: With respect to a Mortgage Loan, as set forth in
Section 11.23.

          Servicing Officer: Any officer of a Servicer involved in, or
responsible for, the administration and servicing of the Mortgage Loans.

          Similar Law: As defined in Section 5.02(c).

          Single Certificate: A Certificate of any Class that evidences the
smallest permissible Denomination for such Class, as set forth in Section 11.22.

          Startup Day: As defined in Section 2.05.

          Subordinated Percentage: As to any Distribution Date, the percentage
which is the difference between 100% and the Class A Percentage for such date.

          Subordinated Prepayment Percentage: As to any Distribution Date, the
percentage which is the difference between 100% and the Class A Prepayment
Percentage for such date.

          Subordination Depletion Date: The Distribution Date preceding the
first Distribution Date on which the Class A Percentage (determined pursuant to
clause (ii) of the definition thereof) equals or exceeds 100%.

          Subordination Depletion Date Interest Shortfall: With respect to any
Distribution Date that occurs on or after the Subordination Depletion Date with
respect to any Unscheduled Principal Receipt (other than a Prepayment in Full or
Curtailment):

          (A)  in the case where the Applicable Unscheduled Principal Receipt
               Period is the Mid-Month Receipt Period and such Unscheduled
               Principal Receipt is received by the Servicer on or after the
               Determination Date in the month preceding the month of such
               Distribution Date but prior to the first day of the month of such
               Distribution Date, the amount of interest that would have accrued
               at the Net Mortgage Interest Rate on the amount of such
               Unscheduled Principal Receipt from the day of its receipt or, if
               earlier, its application by the Servicer through the last day of
               the month preceding the month of such Distribution Date; and

          (B)  in the case where the Applicable Unscheduled Principal Receipt
               Period is the Prior Month Receipt Period and such Unscheduled
               Principal Receipt is received by the Servicer during the month
               preceding the month of such Distribution Date, the amount of
               interest that would have accrued at the Net Mortgage Interest
               Rate on the amount of such Unscheduled Principal Receipt from the
               day of its receipt or, if earlier, its application by the

                                      I-41

<PAGE>

               Servicer through the last day of the month in which such
               Unscheduled Principal Receipt is received.

          Subsidy Account: If the Trust Estate contains any Subsidy Loans, the
deposit account or accounts created and maintained by the Servicer for deposit
of Subsidy Funds and amounts payable under interest subsidy agreements relating
to mortgage loans other than the Mortgage Loans.

          Subsidy Funds: If the Trust Estate contains any Subsidy Loans, funds
contributed by the employer of a Mortgagor in order to reduce the payments
required from the Mortgagor for a specified period in specified amounts.

          Subsidy Loan: Any Mortgage Loan subject to a temporary interest
subsidy agreement pursuant to which the monthly interest payments made by the
related Mortgagor will be less than the scheduled monthly interest payments on
such Mortgage Loan, with the resulting difference in interest payments being
provided by the employer of the Mortgagor. Each Subsidy Loan will be identified
as such in the Mortgage Loan Schedule.

          Substitute Mortgage Loan: As defined in Section 2.02.

          Substitution Principal Amount: With respect to any Mortgage Loan
substituted in accordance with Section 2.02 or pursuant to Section 2.03 or 2.06,
the excess of (x) the unpaid principal balance of the Mortgage Loan which is
substituted for over (y) the unpaid principal balance of the Substitute Mortgage
Loan, each balance being determined as of the date of substitution.

          Trust Estate: The corpus of the trust created by this Agreement,
consisting of the Mortgage Loans, such amounts as may be held from time to time
in the Certificate Account, the rights of the Trustee to receive the proceeds of
all insurance policies and performance bonds, if any, required to be maintained
hereunder or under the related Servicing Agreement, property which secured a
Mortgage Loan and which has been acquired by foreclosure or deed in lieu of
foreclosure and all other property and rights described in the first paragraph
of Section 2.01(a).

          Trustee: [TRUSTEE], a national banking association with its principal
office located in ____________, or any successor trustee appointed as herein
provided.

          Type 1 Mortgage Loan: Any of the Mortgage Loans identified in Exhibit
F-1 hereto, as such Exhibit may be amended from time to time in connection with
a substitution pursuant to Section 2.02 or 2.06, serviced under the Wells Fargo
Bank Servicing Agreement and having a Mid-Month Receipt Period with respect to
all types of Unscheduled Principal Receipts.

          Unpaid Interest Shortfalls: Each of the Class A Unpaid Interest
Shortfalls, the Class B-1 Unpaid Interest Shortfall, the Class B-2 Unpaid
Interest Shortfall, the Class B-3 Unpaid Interest Shortfall, the Class B-4
Unpaid Interest Shortfall, the Class B-5 Unpaid Interest Shortfall and the Class
B-6 Unpaid Interest Shortfall.

          Unscheduled Principal Receipt: Any Principal Prepayment or other
recovery of principal on a Mortgage Loan, including, without limitation,
Liquidation Proceeds, Net REO

                                      I-42

<PAGE>

Proceeds, Recoveries and proceeds received from any condemnation award or
proceeds in lieu of condemnation other than that portion of such proceeds
released to the Mortgagor in accordance with the terms of the Mortgage or
Prudent Servicing Practices, but excluding any Liquidation Profits and proceeds
of a repurchase of a Mortgage Loan by the Seller and any Substitution Principal
Amounts.

          Unscheduled Principal Receipt Period: Either a Mid-Month Receipt
Period or a Prior Month Receipt Period.

          U.S. Person: As defined in Section 4.01(f).

          Voting Interest: With respect to any provisions hereof providing for
the action, consent or approval of the Holders of all Certificates evidencing
specified Voting Interests in the Trust Estate, the Holders of each Class of
Certificates will collectively be entitled to the then applicable percentage of
the aggregate Voting Interest represented by all Certificates equal to the ratio
obtained by dividing the Principal Balance of such Class by the sum of the Class
A Principal Balance and the Class B Principal Balance. Each Certificateholder of
a Class will have a Voting Interest equal to the product of the Voting Interest
to which such Class is collectively entitled and the Percentage Interest in such
Class represented by such Holder's Certificates. With respect to any provisions
hereof providing for action, consent or approval of each Class of Certificates
or specified Classes of Certificates, each Certificateholder of a Class will
have a Voting Interest in such Class equal to such Holder's Percentage Interest
in such Class.

          Wells Fargo Bank: Wells Fargo Bank, N.A., or its successor in
interest.

          Wells Fargo Bank Correspondents: The entities identified on a list
provided by Wells Fargo Bank to the Master Servicer, from which Wells Fargo Bank
purchased the Mortgage Loans.

          Wells Fargo Bank Servicing Agreement: The Servicing Agreement
providing for the servicing of the Type 1 Mortgage Loans initially by Wells
Fargo Bank

          Section 1.02  Acts of Holders.
                        ----------------

          (a)  Any request, demand, authorization, direction, notice, consent,
waiver or other action provided by this Agreement to be given or taken by
Holders may be embodied in and evidenced by one or more instruments of
substantially similar tenor signed by such Holders in person or by an agent duly
appointed in writing. Except as herein otherwise expressly provided, such action
shall become effective when such instrument or instruments are delivered to the
Trustee. Proof of execution of any such instrument or of a writing appointing
any such agent shall be sufficient for any purpose of this Agreement and
conclusive in favor of the Trustee, if made in the manner provided in this
Section 1.02. The Trustee shall promptly notify the Master Servicer in writing
of the receipt of any such instrument or writing.

          (b)  The fact and date of the execution by any Person of any such
instrument or writing may be proved by the affidavit of a witness of such
execution or by a certificate of a notary public or other officer authorized by
law to take acknowledgments of deeds, certifying that the individual signing
such instrument or writing acknowledged to him the execution

                                      I-43

<PAGE>

thereof. When such execution is by a signer acting in a capacity other than his
or her individual capacity, such certificate or affidavit shall also constitute
sufficient proof of his or her authority. The fact and date of the execution of
any such instrument or writing, or the authority of the individual executing the
same, may also be proved in any other manner which the Trustee deems sufficient.

          (c)  The ownership of Certificates (whether or not such Certificates
shall be overdue and notwithstanding any notation of ownership or other writing
thereon made by anyone other than the Trustee and the Authenticating Agent)
shall be proved by the Certificate Register, and neither the Trustee, the Seller
nor the Master Servicer shall be affected by any notice to the contrary.

          (d)  Any request, demand, authorization, direction, notice, consent,
waiver or other action of the Holder of any Certificate shall bind every future
Holder of the same Certificate and the Holder of every Certificate issued upon
the registration of transfer thereof or in exchange therefor or in lieu thereof
in respect of anything done, omitted or suffered to be done by the Trustee, the
Seller or the Master Servicer in reliance thereon, whether or not notation of
such action is made upon such Certificate.

          Section 1.03  Effect of Headings and Table of Contents.
                        -----------------------------------------

          The Article and Section headings in this Agreement and the Table of
Contents are for convenience of reference only and shall not affect the
interpretation or construction of this Agreement.

          Section 1.04  Benefits of Agreement.
                        ----------------------

          Nothing in this Agreement or in the Certificates, express or implied,
shall give to any Person, other than the parties to this Agreement and their
successors hereunder and the Holders of the Certificates any benefit or any
legal or equitable right, power, remedy or claim under this Agreement.

                                      I-44

<PAGE>

                                   ARTICLE II

                          CONVEYANCE OF MORTGAGE LOANS;
                      ORIGINAL ISSUANCE OF THE CERTIFICATES

          Section 2.01  Conveyance of Mortgage Loans.
                        -----------------------------

          (a)  The Seller, concurrently with the execution and delivery hereof,
does hereby assign to the Trustee, without recourse all the right, title and
interest of the Seller in and to (a) the Trust Estate, including all interest
and principal received by the Seller on or with respect to the Mortgage Loans
after the Cut-Off Date (and including scheduled payments of principal and
interest due after the Cut-Off Date but received by the Seller on or before the
Cut-Off Date and Unscheduled Principal Receipts received or applied on the
Cut-Off Date, but not including payments of principal and interest due on the
Mortgage Loans on or before the Cut-Off Date), (b) the Insurance Policies, (c)
the obligations of the Servicers under the Servicing Agreements with respect to
the Mortgage Loans, (d) the right to receive amounts, if any, payable on behalf
of any Mortgagor from the Subsidy Account relating to any Subsidy Loan and (e)
proceeds of all the foregoing. It is agreed and understood by the Seller and the
Trustee that it is not intended that any mortgage loan be included in the Trust
Estate that is a "High-Cost Home Loan" as defined in either (i) the New Jersey
Home Ownership Act effective November 27, 2003 or (ii) the New Mexico Home Loan
Protection Act effective January 1, 2004.

          In connection with such assignment, the Seller shall, with respect to
each Mortgage Loan, deliver, or cause to be delivered, to the Custodian, on or
before the Closing Date the following documents or instruments with respect to
each Mortgage Loan:

          (i)   The original Mortgage Note either (A) endorsed in blank or (B)
     endorsed as provided in Section 2.01(d), with all prior and intervening
     endorsements as may be necessary to show a complete chain of endorsements
     or with respect to any Mortgage Loan as to which the original Mortgage Note
     has been permanently lost or destroyed and has not been replaced, a lost
     note affidavit with a copy of the Mortgage Note and, in the case of any
     Mortgage Loan originated in the State of New York documented by a NYCEMA,
     the NYCEMA, the new Mortgage Note, if applicable, the consolidated Mortgage
     Note and the consolidated Mortgage;

          (ii)  A recorded original assignment of the related Mortgage from
     Wells Fargo Bank assigning the related Mortgage to the Trustee (which may
     be assigned in blank), certified by the recording office, or, if such
     assignment is in the process of being recorded, a copy of the related
     Mortgage transmitted for recordation certified by an officer of Wells Fargo
     Bank or applicable Wells Fargo Bank Correspondent to be a true and correct
     copy of such assignment submitted for recordation; provided, however, if
     recordation is not required as described below, an assignment in recordable
     form (which may be assigned in blank) with respect to the related Mortgage;

          (iii) The original of each assumption agreement, modification, written
     assurance or substitution agreement pertaining to such Mortgage Note, if
     any; and

                                      II-1

<PAGE>

          (iv)  For each Mortgage Loan secured by Co-op Shares, the originals of
     the following documents or instruments:

               (a)  The loan security agreement;

               (b)  The stock certificate;

               (c)  The stock power, executed in blank;

               (d)  The executed proprietary lease;

               (e)  The executed recognition agreement;

               (f)  The executed UCC-1 financing statement with evidence of
                    recording thereon; and

               (g)  The executed UCC-3 financing statements or other appropriate
                    UCC financing statements required by state law, evidencing a
                    complete and unbroken chain from the mortgagee to the
                    Trustee with evidence of recording thereon (or in a form
                    suitable for recordation).

          (b)  Following a Document Transfer Event, the Seller shall, with
respect to each Mortgage Loan, deliver, or cause to be delivered, to the
Custodian within 60 days copies (which may be in electronic form mutually agreed
upon by the Seller and the Custodian) of the following additional documents or
instruments with respect to each Mortgage Loan; provided, however, that
originals of such documents or instruments shall be delivered to the Custodian
if originals are required under the law in which the related Mortgaged Property
is located in order to exercise all remedies available to the Trust under
applicable law following default by the related Mortgagor:

          (i)   The original recorded Mortgage with evidence of recordation
     noted thereon or attached thereto, together with any addenda or riders
     thereto, or a copy of such recorded Mortgage with such evidence of
     recordation certified to be true and correct by the appropriate
     governmental recording office; or a copy of such recorded Mortgage with
     such evidence of recordation, or if the original Mortgage has been
     submitted for recordation but has not been returned from the applicable
     public recording office, a copy of the Mortgage certified by an officer of
     Wells Fargo Bank or the applicable Wells Fargo Bank Correspondent to be a
     true and correct copy of the original Mortgage submitted for recordation;

          (ii)  The original of each assumption agreement, modification, written
     assurance or substitution agreement pertaining to such Mortgage, if any,
     or, if such document is in the process of being recorded, a copy of such
     document, certified by an officer of Wells Fargo Bank or the applicable
     Wells Fargo Bank Correspondent of such Mortgage Loan or by the applicable
     title insurance company, closing agent, settlement agent, escrow agent or
     closing attorney to be a true and correct copy of such document transmitted
     for recordation, if any;

                                      II-2

<PAGE>

          (iii) For each MERS Mortgage Loan that is not a MOM Mortgage Loan, the
     original assignment showing MERS as the assignee of the Mortgage, with
     evidence of recording thereon or copies thereof certified by an officer of
     Wells Fargo Bank or the applicable Wells Fargo Bank Correspondent to have
     been submitted for recordation;

          (iv)  Each original recorded intervening assignment of the Mortgage as
     may be necessary to show a complete chain of title from the Mortgage Loan
     originator to Wells Fargo Bank or Wells Fargo Home Mortgage, Inc., with
     evidence of recordation noted thereon or attached thereto, or a copy of
     such assignment with such evidence of recordation to be true and correct by
     the appropriate governmental recording office, or, if any such assignment
     has been submitted for recordation but has not been returned from the
     applicable public recording office or is not otherwise available, a copy of
     such assignment certified by an officer of Wells Fargo Bank or the
     applicable Wells Fargo Bank Correspondent to be a true and correct copy of
     the recorded assignment submitted for recordation; and

          (v)   The original policy of the title insurance or certificate of
     title insurance or a written commitment to issue such a title insurance
     policy or certificate of title insurance, or a copy of such title insurance
     certified as true and correct by the applicable insurer or any attorney's
     certificate of title with an Officer's Certificate of Wells Fargo Bank or
     the applicable Wells Fargo Bank Correspondent that such attorney's
     certificate of title is customarily used in lieu of a title insurance
     policy in the jurisdiction in which the related mortgage property is
     located.

          (c)  If any assignment of a Mortgage to the Trustee is in the process
of being recorded on the Closing Date, the Seller shall use its best efforts to
cause each such original recorded document or certified copy thereof to be
delivered to the Custodian promptly following its recordation, but in no event
later than one (1) year following the Closing Date. If any Mortgage has been
recorded in the name of MERS or its designee, no assignment of Mortgage in favor
of the Trustee will be required to be prepared or delivered and instead, the
Master Servicer shall take all actions as are necessary to cause the Trust
Estate to be shown as the owner of the related Mortgage Loan on the records of
MERS for the purpose of the system of recording transfers of beneficial
ownership of mortgages maintained by MERS. The Seller shall also cause to be
delivered to the Custodian any other original mortgage loan document included in
the Owner Mortgage Loan File if a copy thereof has been delivered. The Seller
shall pay from its own funds, without any right of reimbursement therefor, the
amount of any costs, liabilities and expenses incurred by the Trust Estate by
reason of the failure of the Seller to cause to be delivered to the Custodian
within one (1) year following the Closing Date any assignment of a Mortgage
(except with respect to any Mortgage recorded in the name of MERS) not delivered
to the Custodian on the Closing Date.

          In lieu of recording an assignment of any Mortgage the Seller may,
deliver or cause to be delivered to the Custodian the assignment of the Mortgage
Loan to the Trustee in a form suitable for recordation, if (i) with respect to a
particular state the Trustee has received an Opinion of Counsel acceptable to it
that such recording is not required to make the assignment effective against the
parties to the Mortgage or subsequent purchasers or encumbrancers of the
Mortgaged Property or (ii) the Seller has been advised by each Rating Agency
that non-

                                      II-3

<PAGE>

recordation in a state will not result in a reduction of the rating assigned by
that Rating Agency at the time of initial issuance of the Certificates. Set
forth on Exhibit K attached hereto is a list of all states where recordation is
required by either Rating Agency to obtain the initial ratings of the
Certificates. The Custodian may rely and shall be protected in relying upon the
information contained in such Exhibit K. In the event that the Custodian
receives notice that recording is required to protect the right, title and
interest of the Trustee in and to any such Mortgage Loan for which recordation
of an assignment has not previously been required, the Custodian shall promptly
notify the Trustee and the Custodian shall within five Business Days (or such
other reasonable period of time mutually agreed upon by the Custodian and the
Trustee) of its receipt of such notice deliver each previously unrecorded
assignment to the related Servicer for recordation.

          (d)  Except for Mortgage Notes endorsed in blank, endorsements shall
comply with the following format:

                                WITHOUT RECOURSE
                              PAY TO THE ORDER OF:
                                  [TRUSTEE], AS
                     TRUSTEE under the pooling and servicing
                          agreement dated as of [date].
                         and its successors and assigns,

          [Wells Fargo Bank, N.A.] or [Wells Fargo Home Mortgage, Inc.]
                             [Signature of Officer]
                           [Officer's Name and Title]

          Except where assignments in blank are authorized or in the case of any
Mortgage registered in the name of MERS, assignments of any Mortgage shall
comply with the following:

                                  [TRUSTEE], AS
                                     TRUSTEE
                         and its successors and assigns

          Section 2.02  Acceptance by Custodian.
                        ------------------------

          Subject to the provisions of the following paragraph, pursuant to the
Custodial Agreement, the Custodian, on behalf of the Trustee, will declare that
it holds and will hold the documents delivered to it pursuant to Section 2.01(a)
above and the other documents constituting a part of the Owner Mortgage Loan
Files or Retained Mortgage Loan Files (after the occurrence of a Document
Transfer Event) delivered to it in trust, upon the trusts herein set forth, for
the use and benefit of all present and future Certificateholders. Upon execution
of this Agreement, the Custodian will deliver to the Seller and the Trustee an
initial certification in the form of Exhibit N hereto, to the effect that,
except as may be specified in a list of exceptions attached thereto, it

                                      II-4

<PAGE>

has received the original Mortgage Notes relating to each Mortgage Loan on the
Mortgage Loan Schedule.

          The Custodian will review each Owner Mortgage Loan File within 45 days
after execution of this Agreement. The Custodian will deliver no later than 30
days after completion of such review to the Seller and the Trustee a final
certification in the form of Exhibit O hereto to the effect that, except as may
be specified in a list of exceptions attached thereto, all required documents
set forth in Section 2.01(a) have been executed and received and appear regular
on their face, and that such documents relate to the Mortgage Loans identified
in the Mortgage Loan Schedule based on a comparison of the Mortgage Loan
identifying number, Mortgagor name and street address, and in so doing the
Custodian may rely on the purported due execution and genuineness of any such
document and on the purported genuineness of any signature thereon.

          If within such 45 day period the Custodian finds any document
constituting a part of an Owner Mortgage Loan File not to have been executed or
received or to be unrelated to the Mortgage Loans identified in the Mortgage
Loan Schedule or not to appear regular on its face, the Custodian shall promptly
(and in no event more than 30 days after completion of the review) notify the
Trustee and the Trustee shall notify the Seller. The Seller shall have a period
of 60 days after the date of such notice within which to correct or cure any
such defect. The Seller hereby covenants and agrees that, if any material defect
is not so corrected or cured, the Seller will, not later than 60 days after the
Trustee's notice to it referred to above respecting such defect, either (i)
repurchase the related Mortgage Loan or any property acquired in respect thereof
from the Trust Estate at a price equal to (a) 100% of the unpaid principal
balance of such Mortgage Loan plus (b) accrued interest at the Mortgage Interest
Rate through the last day of the month in which such repurchase takes place or
(ii) if within two years of the Startup Day, or such other period permitted by
the REMIC Provisions, substitute for any Mortgage Loan to which such material
defect relates, a new mortgage loan (a "Substitute Mortgage Loan") having such
characteristics so that the representations and warranties of the Seller set
forth in Section 2.03(b) hereof (other than Section 2.03(b)(i)) would not have
been incorrect had such Substitute Mortgage Loan originally been a Mortgage
Loan. In no event shall any Substitute Mortgage Loan have an unpaid principal
balance, as of the date of substitution, greater than the Scheduled Principal
Balance (reduced by the scheduled payment of principal due on the Due Date in
the month of substitution) of the Mortgage Loan for which it is substituted. In
addition, such Substitute Mortgage Loan (i) shall have a Loan-to-Value Ratio
less than or equal to and a Net Mortgage Interest Rate equal to that of the
Mortgage Loan for which it is substituted, (ii) shall have the same Gross Margin
and Index as that of the Mortgage Loan for which it is substituted and (iii)
shall have the same frequency of mortgage rate adjustment as that of the
Mortgage Loan for which it is substituted.

          In the case of a repurchased Mortgage Loan or property, the purchase
price shall be deposited by the Seller in the Certificate Account maintained by
the Master Servicer pursuant to Section 3.01. In the case of a Substitute
Mortgage Loan, the Owner Mortgage Loan File (and Retained Mortgage Loan File, if
required pursuant to Section 2.01(b) hereof) relating thereto shall be delivered
to the Custodian and the Substitution Principal Amount, together with (i)
interest on such Substitution Principal Amount at the applicable Net Mortgage
Interest Rate to the following Due Date of such Mortgage Loan which is being
substituted for and (ii) an amount equal to the aggregate amount of unreimbursed
Periodic Advances in respect of interest

                                      II-5

<PAGE>

previously made by the Servicer, the Master Servicer or the Trustee with respect
to such Mortgage Loan, shall be deposited in the Certificate Account. The
Monthly Payment on the Substitute Mortgage Loan for the Due Date in the month of
substitution shall not be part of the Trust Estate. Upon receipt by the
Custodian of a Request for Release signed by an officer of the Seller, the
Custodian shall release to the Seller the related Owner Mortgage Loan File (and
Retained Mortgage Loan File, if applicable). The Trustee shall execute and
deliver such instrument of transfer or assignment (or, in the case of a Mortgage
Loan registered in the name of MERS or its designee, the Master Servicer shall
take all necessary action to reflect such assignment on the records of MERS), in
each case without recourse, as shall be necessary to vest in the Seller legal
and beneficial ownership of such substituted or repurchased Mortgage Loan or
property. It is understood and agreed that the obligation of the Seller to
substitute a new Mortgage Loan for or repurchase any Mortgage Loan or property
as to which such a material defect in a constituent document exists shall
constitute the sole remedy respecting such defect available to the
Certificateholders or the Trustee on behalf of the Certificateholders. The
failure of the Custodian to give the final certification or the Trustee to give
any notice within the required time periods shall not affect or relieve the
Seller's obligation to repurchase any Mortgage Loan pursuant to this Section
2.02.

          Section 2.03  Representations and Warranties of the Master Servicer
                        -----------------------------------------------------
                        and the Seller.
                        ---------------

          (a)  The Master Servicer hereby represents and warrants to the Trustee
for the benefit of the Certificateholders that, as of the date of execution of
this Agreement:

          (i)   The Master Servicer is a national banking association duly
     chartered and validly existing in good standing under the laws of the
     United States;

          (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 corporate charter or
     by-laws or 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 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 Seller, 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 affect its performance hereunder; and

                                      II-6

<PAGE>

          (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.

          It is understood and agreed that the representations and warranties
set forth in this Section 2.03(a) shall survive delivery of the respective Owner
Mortgage Loan Files to the Trustee or the Custodian.

          (b) The Seller hereby represents and warrants to the Trustee for the
benefit of Certificateholders that, as of the date of execution of this
Agreement, with respect to the Mortgage Loans, or each Mortgage Loan, as the
case may be:

          (i)   The information set forth in the Mortgage Loan Schedule was true
     and correct in all material respects at the date or dates respecting which
     such information is furnished as specified in the Mortgage Loan Schedule;

          (ii)  Immediately prior to the transfer and assignment contemplated
     herein, the Seller was the sole owner and holder of the Mortgage Loan free
     and clear of any and all liens, pledges, charges or security interests of
     any nature and has full right and authority to sell and assign the same;

          (iii) The Mortgage is a valid, subsisting and enforceable first lien
     on the property therein described, and the Mortgaged Property is free and
     clear of all encumbrances and liens having priority over the first lien of
     the Mortgage except for liens for real estate taxes and special assessments
     not yet due and payable and liens or interests arising under or as a result
     of any federal, state or local law, regulation or ordinance relating to
     hazardous wastes or hazardous substances, and, if the related Mortgaged
     Property is a condominium unit, any lien for common charges permitted by
     statute or homeowners association fees; and if the Mortgaged Property
     consists of shares of a cooperative housing corporation, any lien for
     amounts due to the cooperative housing corporation for unpaid assessments
     or charges or any lien of any assignment of rents or maintenance expenses
     secured by the real property owned by the cooperative housing corporation;
     and any security agreement, chattel mortgage or equivalent document related
     to, and delivered to the Trustee or to the Custodian with, any Mortgage
     establishes in the Seller a valid and subsisting first lien on the property
     described therein and the Seller has full right to sell and assign the same
     to the Trustee;

          (iv)  Neither the Seller nor any prior holder of the Mortgage or the
     related Mortgage Note has modified the Mortgage or the related Mortgage
     Note in any material respect, satisfied, canceled or subordinated the
     Mortgage in whole or in part, released the Mortgaged Property in whole or
     in part from the lien of the Mortgage, or executed any instrument of
     release, cancellation, modification or satisfaction, except in each case as
     is reflected in an agreement delivered to the Trustee or the Custodian
     pursuant to Section 2.01(a);

          (v)   All taxes, governmental assessments, insurance premiums, and
     water, sewer and municipal charges, which previously became due and owing
     have been paid,

                                      II-7

<PAGE>

     or an escrow of funds has been established, to the extent permitted by law,
     in an amount sufficient to pay for every such item which remains unpaid;
     and the Seller has not advanced funds, or received any advance of funds by
     a party other than the Mortgagor, directly or indirectly (except pursuant
     to any Subsidy Loan arrangement) for the payment of any amount required by
     the Mortgage, except for interest accruing from the date of the Mortgage
     Note or date of disbursement of the Mortgage Loan proceeds, whichever is
     later, to the day which precedes by thirty days the first Due Date under
     the related Mortgage Note;

          (vi)     The Mortgaged Property is undamaged by water, fire,
     earthquake, earth movement other than earthquake, windstorm, flood, tornado
     or similar casualty (excluding casualty from the presence of hazardous
     wastes or hazardous substances, as to which the Seller makes no
     representations), so as to affect adversely the value of the Mortgaged
     Property as security for the Mortgage Loan or the use for which the
     premises were intended and to the best of the Seller's knowledge, there is
     no proceeding pending or threatened for the total or partial condemnation
     of the Mortgaged Property;

          (vii)    The Mortgaged Property is free and clear of all mechanics'
     and materialmen's liens or liens in the nature thereof; provided, however,
     that this warranty shall be deemed not to have been made at the time of the
     initial issuance of the Certificates if a title policy affording, in
     substance, the same protection afforded by this warranty is furnished to
     the Trustee by the Seller;

          (viii)   Except for Mortgage Loans secured by Co-op Shares and
     Mortgage Loans secured by residential long-term leases, the Mortgaged
     Property consists of a fee simple estate in real property; all of the
     improvements which are included for the purpose of determining the
     appraised value of the Mortgaged Property lie wholly within the boundaries
     and building restriction lines of such property and no improvements on
     adjoining properties encroach upon the Mortgaged Property (unless insured
     against under the related title insurance policy); and to the best of the
     Seller's knowledge, the Mortgaged Property and all improvements thereon
     comply with all requirements of any applicable zoning and subdivision laws
     and ordinances;

          (ix)     The Mortgage Loan meets, or is exempt from, applicable state
     or federal laws, regulations and other requirements, pertaining to usury,
     and the Mortgage Loan is not usurious;

          (x)      To the best of the Seller's knowledge, all inspections,
     licenses and certificates required to be made or issued with respect to all
     occupied portions of the Mortgaged Property and, with respect to the use
     and occupancy of the same, including, but not limited to, certificates of
     occupancy and fire underwriting certificates, have been made or obtained
     from the appropriate authorities;

          (xi)     All payments required to be made up to the Due Date
     immediately preceding the Cut-Off Date for such Mortgage Loan under the
     terms of the related Mortgage Note have been made and no Mortgage Loan had
     more than one delinquency in the 12 months preceding the Cut-Off Date;

                                      II-8

<PAGE>

          (xii)    The Mortgage Note, the related Mortgage and other agreements
     executed in connection therewith are genuine, and each is the legal, valid
     and binding obligation of the maker thereof, enforceable in accordance with
     its terms, except as such enforcement may be limited by bankruptcy,
     insolvency, reorganization or other similar laws affecting the enforcement
     of creditors' rights generally and by general equity principles (regardless
     of whether such enforcement is considered in a proceeding in equity or at
     law); and, to the best of the Seller's knowledge, all parties to the
     Mortgage Note and the Mortgage had legal capacity to execute the Mortgage
     Note and the Mortgage and each Mortgage Note and Mortgage has been duly and
     properly executed by the Mortgagor;

          (xiii)   Each Mortgage Loan at the time it was originated complied in
     all material respects with applicable federal, state and local laws
     including, without limitation, truth-in-lending, real estate settlement
     procedures, consumer credit protection, equal credit opportunity, predatory
     and abusive lending laws and disclosure laws;

          (xiv)    The proceeds of the Mortgage Loans have been fully disbursed,
     there is no requirement for future advances thereunder and any and all
     requirements as to completion of any on-site or off-site improvements and
     as to disbursements of any escrow funds therefor have been complied with
     (except for escrow funds for exterior items which could not be completed
     due to weather and escrow funds for the completion of swimming pools); and
     all costs, fees and expenses incurred in making, closing or recording the
     Mortgage Loan have been paid, except recording fees with respect to
     Mortgages not recorded as of the Closing Date;

          (xv)     The Mortgage Loan (except any Mortgage Loan secured by a
     Mortgaged Property located in any jurisdiction, as to which an opinion of
     counsel of the type customarily rendered in such jurisdiction in lieu of
     title insurance is instead received) is covered by an American Land Title
     Association mortgagee title insurance policy or other generally acceptable
     form of policy or insurance acceptable to Fannie Mae or Freddie Mac, issued
     by a title insurer acceptable to Fannie Mae or Freddie Mac insuring the
     originator, its successors and assigns, as to the first priority lien of
     the Mortgage in the original principal amount of the Mortgage Loan and
     subject only to (A) the lien of current real property taxes and assessments
     not yet due and payable, (B) covenants, conditions and restrictions, rights
     of way, easements and other matters of public record as of the date of
     recording of such Mortgage acceptable to mortgage lending institutions in
     the area in which the Mortgaged Property is located or specifically
     referred to in the appraisal performed in connection with the origination
     of the related Mortgage Loan, (C) liens created pursuant to any federal,
     state or local law, regulation or ordinance affording liens for the costs
     of clean-up of hazardous substances or hazardous wastes or for other
     environmental protection purposes and (D) such other matters to which like
     properties are commonly subject which do not individually, or in the
     aggregate, materially interfere with the benefits of the security intended
     to be provided by the Mortgage; the Seller is the sole insured of such
     mortgagee title insurance policy, the assignment to the Trustee of the
     Seller's interest in such mortgagee title insurance policy does not require
     any consent of or notification to the insurer which has not been obtained
     or made, such mortgagee title insurance policy is in full force and effect
     and will be in full force and effect and inure to the benefit of the
     Trustee, no claims have been made

                                      II-9

<PAGE>

     under such mortgagee title insurance 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 mortgagee title insurance
     policy;

          (xvi)    The Mortgaged Property securing each Mortgage Loan is insured
     by an insurer acceptable to Fannie Mae or Freddie Mac against loss by fire
     and such hazards as are covered under a standard extended coverage
     endorsement, in an amount which is not less than the lesser of 100% of the
     insurable value of the Mortgaged Property and the outstanding principal
     balance of the Mortgage Loan, but in no event less than the minimum amount
     necessary to fully compensate for any damage or loss on a replacement cost
     basis; if the Mortgaged Property is a condominium unit, it is included
     under the coverage afforded by a blanket policy for the project; if upon
     origination of the Mortgage Loan, the improvements on the Mortgaged
     Property were in an area identified in the Federal Register by the Federal
     Emergency Management Agency as having special flood hazards, a flood
     insurance policy meeting the requirements of the current guidelines of the
     Federal Insurance Administration is in effect with a generally acceptable
     insurance carrier, in an amount representing coverage not less than the
     least of (A) the outstanding principal balance of the Mortgage Loan, (B)
     the full insurable value of the Mortgaged Property and (C) the maximum
     amount of insurance which was available under the National Flood Insurance
     Act of 1968, as amended; and each Mortgage obligates the Mortgagor
     thereunder to maintain all such insurance at the Mortgagor's cost and
     expense;

          (xvii)   To the best of the Seller's knowledge, there is no default,
     breach, violation or event of acceleration existing under the Mortgage or
     the related Mortgage Note and no event which, with the passage of time or
     with notice and the expiration of any grace or cure period, would
     constitute a default, breach, violation or event of acceleration; the
     Seller has not waived any default, breach, violation or event of
     acceleration; and no foreclosure action is currently threatened or has been
     commenced with respect to the Mortgage Loan;

          (xviii)  No Mortgage Note or Mortgage is subject to any right of
     rescission, set-off, counterclaim or defense, including the defense of
     usury, nor will the operation of any of the terms of the Mortgage Note or
     Mortgage, or the exercise of any right thereunder, render the Mortgage Note
     or Mortgage unenforceable, in whole or in part, or subject it to any right
     of rescission, set-off, counterclaim or defense, including the defense of
     usury, and no such right of rescission, set-off, counterclaim or defense
     has been asserted with respect thereto;

          (xix)    Each Mortgage Note is payable in monthly payments, resulting
     in complete amortization of the Mortgage Loan over a term of not more than
     ___ months;

          (xx)     Each Mortgage contains customary and enforceable provisions
     such as to render the rights and remedies of the holder thereof adequate
     for the realization against the Mortgaged Property of the benefits of the
     security, including realization by judicial foreclosure (subject to any
     limitation arising from any bankruptcy, insolvency or other law for the
     relief of debtors), and there is no homestead or other exemption available
     to the Mortgagor which would interfere with such right of foreclosure;

                                      II-10

<PAGE>

          (xxi)    To the best of the Seller's knowledge, no Mortgagor is a
     debtor in any state or federal bankruptcy or insolvency proceeding;

          (xxii)   Each Mortgaged Property is located in the United States and
     consists of a one- to four-unit residential property, which may include a
     detached home, townhouse, condominium unit or a unit in a planned unit
     development or, in the case of Mortgage Loans secured by Co-op Shares,
     leases or occupancy agreements;

          (xxiii)  The Mortgage Loan is a "qualified mortgage" within the
     meaning of Section 860G(a)(3) of the Code;

          (xxiv)   With respect to each Mortgage where a lost note affidavit has
     been delivered to the Trustee in place of the related Mortgage Note, the
     related Mortgage Note is no longer in existence;

          (xxv)    In the event that the Mortgagor is an inter vivos "living"
     trust, (i) such trust is in compliance with Fannie Mae or Freddie Mac
     standards for inter vivos trusts and (ii) holding title to the Mortgaged
     Property in such trust will not diminish any rights as a creditor including
     the right to full title to the Mortgaged Property in the event foreclosure
     proceedings are initiated;

          (xxvi)   If the Mortgage Loan is secured by a long-term residential
     lease, (1) the lessor under the lease holds a fee simple interest in the
     land; (2) the terms of such lease expressly permit the mortgaging of the
     leasehold estate, the assignment of the lease without the lessor's consent
     and the acquisition by the holder of the Mortgage of the rights of the
     lessee upon foreclosure or assignment in lieu of foreclosure or provide the
     holder of the Mortgage with substantially similar protections; (3) the
     terms of such lease do not (a) allow the termination thereof upon the
     lessee's default without the holder of the Mortgage being entitled to
     receive written notice of, and opportunity to cure, such default, (b) allow
     the termination of the lease in the event of damage or destruction as long
     as the Mortgage is in existence, (c) prohibit the holder of the Mortgage
     from being insured (or receiving proceeds of insurance) under the hazard
     insurance policy or policies relating to the Mortgaged Property or (d)
     permit any increase in rent other than pre-established increases set forth
     in the lease; (4) the original term of such lease is not less than 15
     years; (5) the term of such lease does not terminate earlier than five
     years after the maturity date of the Mortgage Note; and (6) the Mortgaged
     Property is located in a jurisdiction in which the use of leasehold estates
     in transferring ownership in residential properties is a widely accepted
     practice;

          (xxvii)  No Mortgage Loan is a "high cost" loan as defined under any
     federal, state or local law applicable to such Mortgage Loan at the time of
     its origination; and

          (xxviii) No Mortgage Loan is serviced by the Trustee or an affiliate
     of the Trustee.

          Notwithstanding the foregoing, no representations or warranties are
made by the Seller as to the environmental condition of any Mortgaged Property;
the absence, presence or effect of hazardous wastes or hazardous substances on
any Mortgaged Property; any casualty resulting from the presence or effect of
hazardous wastes or hazardous substances on, near or

                                      II-11

<PAGE>

emanating from any Mortgaged Property; the impact on Certificateholders of any
environmental condition or presence of any hazardous substance on or near any
Mortgaged Property; or the compliance of any Mortgaged Property with any
environmental laws, nor is any agent, person or entity otherwise affiliated with
the Seller authorized or able to make any such representation, warranty or
assumption of liability relative to any Mortgaged Property. In addition, no
representations or warranties are made by the Seller with respect to the absence
or effect of fraud in the origination of any Mortgage Loan.

          It is understood and agreed that the representations and warranties
set forth in this Section 2.03(b) shall survive delivery of the respective Owner
Mortgage Loan Files (and Retained Mortgage Loan Files, if applicable) to the
Custodian and shall inure to the benefit of the Trustee notwithstanding any
restrictive or qualified endorsement or assignment.

          (c)  Upon discovery by either the Seller, the Master Servicer, the
Trustee or the Custodian that any of the representations and warranties made in
subsection (b) above is not accurate (referred to herein as a "breach") and,
except for a breach of the representation and warranty set forth in subsection
(b)(i), where such breach is a result of the Cut-Off Date Principal Balance of a
Mortgage Loan being greater, by $5,000 or greater, than the Cut-Off Date
Principal Balance of such Mortgage Loan indicated on the Mortgage Loan Schedule,
that such breach materially and adversely affects the interests of the
Certificateholders in the related 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 60 days of the earlier
of its discovery or its receipt of notice of any such breach the Seller shall
cure such breach in all material respects or shall either (i) repurchase the
Mortgage Loan or any property acquired in respect thereof from the Trust Estate
at a price equal to (A) 100% of the unpaid principal balance of such Mortgage
Loan plus (B) accrued interest at the Net Mortgage Interest Rate for such
Mortgage Loan through the last day of the month in which such repurchase took
place or (ii) if within two years of the Startup Day, or such other period
permitted by the REMIC Provisions, substitute for such Mortgage Loan in the
manner described in Section 2.02. In addition to the foregoing, if a breach of
the representation set forth in clause (b)(xiii) of this Section 2.03 occurs as
a result of a violation of an applicable predatory or abusive lending law, the
Seller shall reimburse the Trust for all costs and damages including, but not
limited to, reasonable attorneys' fees and costs, incurred by the Trust as a
result of the violation of such law (such amount, the "Reimbursement Amount").
The purchase price of any repurchase described in this paragraph, the
Substitution Principal Amount, if any, plus accrued interest thereon and the
other amounts referred to in Section 2.02, and any Reimbursement Amount shall be
deposited in the Certificate Account. It is understood and agreed, except with
respect to the second preceding sentence, that the obligation of the Seller to
repurchase or substitute for any Mortgage Loan or property 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, and such obligation shall survive until termination of
the Trust Estate hereunder.

          Section 2.04  Execution and Delivery of Certificates.
                        ---------------------------------------

          The Trustee acknowledges the assignment to it of the Mortgage Loans
and acknowledges the delivery of the Owner Mortgage Loan Files to the Custodian,
on behalf of the Trustee, and, concurrently with such delivery, has executed and
delivered to or upon the order of

                                      II-12

<PAGE>

the Seller, in exchange for the Mortgage Loans together with all other assets
included in the definition of "Trust Estate," receipt of which is hereby
acknowledged, Certificates in authorized denominations which evidence ownership
of the entire Trust Estate.

          Section 2.05  Designation of Certificates; Designation of Startup Day
                        -------------------------------------------------------
                        and Latest Possible Maturity Date.
                        ----------------------------------

          The Seller hereby designates the Classes of Class A Certificates
(other than the Class A-R Certificate) and the Classes of Class B Certificates
as classes of "regular interests" and the Class A-R Certificate as the single
class of "residual interest" in the REMIC for the purposes of Code Sections
860G(a)(1) and 860G(a)(2), respectively. The Closing Date is hereby designated
as the "Startup Day" of the REMIC within the meaning of Code Section 860G(a)(9).
The "latest possible maturity date" of the regular interests in the REMIC is
_______, 20__ for purposes of Code Section 860G(a)(1).

          Section 2.06  Optional Substitution of Mortgage Loans.
                        ----------------------------------------

          During the three-month period beginning on the Startup Date, the
Seller shall have the right, but not the obligation, in its sole discretion for
any reason, to substitute for any Mortgage Loan a Substitute Mortgage Loan
meeting the requirements of Section 2.02. Any such substitution shall be carried
out in the manner described in Section 2.02. The Substitution Principal Amount,
if any, plus accrued interest thereon and the other amounts referred to in
Section 2.02, shall be deposited in the Certificate Account.

                                      II-13

<PAGE>

                                   ARTICLE III

                  ADMINISTRATION OF THE TRUST ESTATE; SERVICING
                              OF THE MORTGAGE LOANS

          Section 3.01  Certificate Account.
                        --------------------

          (a)  The Master Servicer shall establish and maintain a Certificate
Account for the deposit of funds received by the Master Servicer with respect to
the Mortgage Loans serviced by each Servicer pursuant to each of the Servicing
Agreements. Such account shall be maintained as an Eligible Account. The Master
Servicer shall give notice to each Servicer and the Seller of the location of
the Certificate Account and of any change in the location thereof.

          (b)  The Master Servicer shall deposit into the Certificate Account on
the day of receipt thereof all amounts received by it from any Servicer pursuant
to any of the Servicing Agreements and shall, in addition, deposit into the
Certificate Account the following amounts, in the case of amounts specified in
clause (i), not later than the Distribution Date on which such amounts are
required to be distributed to Certificateholders and, in the case of the amounts
specified in clause (ii), not later than the Business Day next following the day
of receipt and posting by the Master Servicer:

          (i)  Periodic Advances pursuant to Section 3.03(a) made by the Master
     Servicer or the Trustee, if any and any amounts deemed received by the
     Master Servicer pursuant to Section 3.01(d); and

          (ii) in the case of any Mortgage Loan that is repurchased by the
     Seller pursuant to Section 2.02, 2.03, 3.08 or 9.01 or that is auctioned by
     the Master Servicer pursuant to Section 3.08, the purchase price therefor
     or, where applicable, any Substitution Principal Amount and any amounts
     received in respect of the interest portion of unreimbursed Periodic
     Advances.

          (c)  The Master Servicer shall cause the funds in the Certificate
Account to be invested in Eligible Investments. No such Eligible Investments
will be sold or disposed of at a gain prior to maturity unless the Master
Servicer has received an Opinion of Counsel or other evidence satisfactory to it
that such sale or disposition will not cause the Trust Estate to be subject to
Prohibited Transactions Tax, otherwise subject the Trust Estate to tax, or cause
the Trust Estate to fail to qualify as a REMIC while any Certificates are
outstanding. Any amounts deposited in the Certificate Account prior to the
Distribution Date shall be invested for the account of the Master Servicer and
any investment income thereon shall be additional compensation to the Master
Servicer for services rendered under this Agreement. 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 therefor from the Trust Estate.

          (d)  For purposes of this Agreement, the Master Servicer will be
deemed to have received from a Servicer on the applicable Remittance Date for
such funds all amounts

                                      III-1

<PAGE>

deposited by such Servicer into the Custodial P&I Account maintained in
accordance with the applicable Servicing Agreement, if such Custodial P&I
Account is not an Eligible Account as defined in this Agreement, to the extent
such amounts are not actually received by the Master Servicer on such Remittance
Date as a result of the bankruptcy, insolvency, receivership or other financial
distress of the depository institution in which such Custodial P&I Account is
being held. To the extent that amounts so deemed to have been received by the
Master Servicer are subsequently remitted to the Master Servicer, the Master
Servicer shall be entitled to retain such amounts.

          Section 3.02  Permitted Withdrawals from the Certificate Account.
                        ---------------------------------------------------

          (a)  The Master Servicer may, from time to time, make withdrawals from
the Certificate Account for the following purposes (limited, in the case of
Servicer reimbursements, to cases where funds in the respective Custodial P&I
Account are not sufficient therefor):

          (i)    to reimburse the Master Servicer, the Trustee or any Servicer
     for Periodic Advances made by the Master Servicer or the Trustee pursuant
     to Section 3.03(a) or any Servicer pursuant to any Servicing Agreement with
     respect to previous Distribution Dates, such right to reimbursement
     pursuant to this subclause (i) being limited to amounts received on or in
     respect of particular Mortgage Loans (including, for this purpose,
     Liquidation Proceeds, REO Proceeds and proceeds from the purchase, sale,
     repurchase or substitution of Mortgage Loans pursuant to Section 2.02,
     2.03, 2.06, 3.08 or 9.01) respecting which any such Periodic Advance was
     made;

          (ii)   to reimburse any Servicer, the Master Servicer or the Trustee
     for any Periodic Advances determined in good faith to have become
     Nonrecoverable Advances;

          (iii)  to reimburse the Master Servicer or any Servicer from
     Liquidation Proceeds for Liquidation Expenses and for amounts expended by
     the Master Servicer or any Servicer pursuant hereto or to any Servicing
     Agreement, respectively, in good faith in connection with the restoration
     of damaged property or for foreclosure expenses;

          (iv)   from any Mortgagor payment on account of interest or other
     recovery (including Net REO Proceeds) with respect to a particular Mortgage
     Loan, to pay the Master Servicing Fee with respect to such Mortgage Loan to
     the Master Servicer;

          (v)    to reimburse the Master Servicer, any Servicer or the Trustee
     (or, in certain cases, the Seller) for expenses incurred by it (including
     taxes paid on behalf of the Trust Estate) and recoverable by or
     reimbursable to it pursuant to Section 3.03(c), 3.03(d) or 6.03 or the
     second sentence of Section 8.13(a) or pursuant to such Servicer's Servicing
     Agreement, provided such expenses are "unanticipated" within the meaning of
     the REMIC Provisions;

          (vi)   to pay to the Seller or other purchaser with respect to each
     Mortgage Loan or property acquired in respect thereof that has been
     repurchased or replaced pursuant to Section 2.02, 2.03, 2.06, 3.08 or 9.01
     or auctioned pursuant to Section 3.08, all amounts received thereon and not
     required to be distributed as of the date on which the related repurchase
     or purchase price or Scheduled Principal Balance was determined;

                                      III-2

<PAGE>

          (vii)  to remit funds to the Paying Agent in the amounts and in the
     manner provided for herein;

          (viii) to pay to the Master Servicer any interest earned on or
     investment income with respect to funds in the Certificate Account;

          (ix)   to pay to the Master Servicer or any Servicer out of
     Liquidation Proceeds allocable to interest the amount of any unpaid Master
     Servicing Fee or Servicing Fee (as adjusted pursuant to the related
     Servicing Agreement) and any unpaid assumption fees, late payment charges
     or other Mortgagor charges on the related Mortgage Loan;

          (x)    to pay to the Master Servicer as additional master servicing
     compensation any Liquidation Profits which a Servicer is not entitled to
     pursuant to the applicable Servicing Agreement;

          (xi)   to withdraw from the Certificate Account any amount deposited
     in the Certificate Account that was not required to be deposited therein;
     and

          (xii)  to clear and terminate the Certificate Account pursuant to
     Section 9.01.

          (b)  The Master Servicer shall keep and maintain separate accounting,
on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any
payment to and withdrawal from the Certificate Account.

          Section 3.03  Advances by Master Servicer and Trustee.
                        ----------------------------------------

          (a)  In the event an Other Servicer fails to make any required
Periodic Advances of principal and interest on a Mortgage Loan as required by
the related Other Servicing Agreement prior to the Distribution Date occurring
in the month during which such Periodic Advance is due, the Master Servicer
shall make Periodic Advances to the extent provided hereby. In the event Wells
Fargo Bank in its capacity as Servicer fails to make any required Periodic
Advances of principal and interest on a Mortgage Loan as required by the Wells
Fargo Bank Servicing Agreement prior to the Distribution Date occurring in the
month during which such Periodic Advance is due, the Trustee shall, to the
extent required by Section 8.14, make such Periodic Advance to the extent
provided hereby, provided that the Trustee has previously received the
certificate of the Master Servicer described in the following sentence. The
Master Servicer shall certify to the Trustee with respect to any such
Distribution Date (i) the amount of Periodic Advances required of Wells Fargo
Bank in this capacity as Servicer or such Other Servicer, as the case may be,
(ii) the amount actually advanced by Wells Fargo Bank in its capacity as
Servicer or such Other Servicer, (iii) the amount that the Trustee or Master
Servicer is required to advance hereunder and (iv) whether the Master Servicer
has determined that it reasonably believes that such Periodic Advance is a
Nonrecoverable Advance. Amounts advanced by the Trustee or Master Servicer shall
be deposited in the Certificate Account on the related Distribution Date.
Notwithstanding the foregoing, neither the Master Servicer nor the Trustee will
be obligated to make a Periodic Advance that it reasonably believes to be a
Nonrecoverable Advance. The Trustee may conclusively rely for any determination
to be made by it hereunder upon the determination of the Master Servicer as set
forth in its certificate.

                                      III-3

<PAGE>

          (b)  To the extent an Other Servicer fails to make an advance on
account of the taxes or insurance premiums with respect to a Mortgage Loan
required pursuant to the related Other Servicing Agreement, the Master Servicer
shall, if the Master Servicer knows of such failure of the Servicer, advance
such funds and take such steps as are necessary to pay such taxes or insurance
premiums. To the extent Wells Fargo Bank in its capacity as Servicer fails to
make an advance on account of the taxes or insurance premiums with respect to a
Mortgage Loan required pursuant to the Wells Fargo Bank Servicing Agreement, the
Master Servicer shall, if the Master Servicer knows of such failure of Wells
Fargo Bank in its capacity as Servicer, certify to the Trustee that such failure
has occurred. Upon receipt of such certification, the Trustee shall advance such
funds and take such steps as are necessary to pay such taxes or insurance
premiums.

          (c)  The Master Servicer and the Trustee shall each be entitled to be
reimbursed from the Certificate Account for any Periodic Advance made by it
under Section 3.03(a) to the extent described in Section 3.02(a)(i). The Master
Servicer and the Trustee shall be entitled to be reimbursed pursuant to Section
3.02(a)(v) for any advance by it pursuant to Section 3.03(b). The Master
Servicer shall diligently pursue restoration of such amount to the Certificate
Account from the related Servicer. The Master Servicer shall, to the extent it
has not already done so, upon the request of the Trustee, withdraw from the
Certificate Account and remit to the Trustee any amounts to which the Trustee is
entitled as reimbursement pursuant to Section 3.02 (a)(i) and (v).

          (d)  Except as provided in Section 3.03(a) and (b), neither the Master
Servicer nor the Trustee shall be required to pay or advance any amount which
any Servicer was required, but failed, to deposit in the Certificate Account.

          Section 3.04  Custodian to Cooperate; Release of Owner Mortgage Loan
                        ------------------------------------------------------
                        Files and Retained Mortgage Loan Files.
                        ---------------------------------------

          In connection with the deposit by a Servicer into the Certificate
Account of the proceeds from a Liquidated Loan or of a Prepayment in Full, the
Master Servicer or applicable Servicer shall confirm to the Trustee that all
amounts required to be remitted to the Certificate Account in connection with
such Mortgage Loan have been so deposited, and the Master Servicer or applicable
Servicer shall deliver two copies of such Request for Release to the Custodian.
The Custodian shall, within five Business Days of its receipt of such a Request
for Release, release the related Owner Mortgage Loan File (and Retained Mortgage
Loan File, if applicable) to the Master Servicer or such Servicer, as requested
by the Master Servicer or such Servicer. No expenses incurred in connection with
any instrument of satisfaction or deed of reconveyance shall be chargeable to
the Certificate Account.

          From time to time and as appropriate for the servicing or foreclosure
of any Mortgage Loan, including but not limited to, collection under any
insurance policies, or to effect a partial release of any Mortgaged Property
from the lien of the Mortgage, the Servicer of such Mortgage Loan shall deliver
to the Master Servicer or Custodian two copies of a Request for Release. Upon
the Master Servicer's receipt of any such Request for Release, the Master
Servicer shall promptly forward such request in hard copy or in electronic
format acceptable to

                                      III-4

<PAGE>

the Custodian. The Custodian shall, within five Business Days, release the
related Owner Mortgage Loan File (and Retained Mortgage Loan File, if
applicable) to the Master Servicer or such Servicer. Any such Request for
Release shall obligate the Master Servicer or such Servicer, as the case may be,
to return the Owner Mortgage Loan File (and Retained Mortgage Loan File, if
applicable) to the Custodian by the twenty-first day following the release
thereof, unless (i) the Mortgage Loan has been liquidated and the Liquidation
Proceeds relating to the Mortgage Loan have been deposited in the Certificate
Account or (ii) the Owner Mortgage Loan File, Retained Mortgage Loan File, if
applicable, 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. Upon receipt of two
copies of a Request for Release stating that such Mortgage Loan was liquidated
and that all amounts received or to be received in connection with such
liquidation which are required to be deposited into the Certificate Account have
been so deposited, or that such Mortgage Loan has become an REO Mortgage Loan,
the Custodian shall amend its records.

          Upon written certification of the Master Servicer or the Servicer
pursuant to clause (ii) of the preceding paragraph, the Trustee shall execute
and deliver to the Master Servicer or such Servicer, as directed by the Master
Servicer, 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. Each such certification shall
include a request that such pleadings or documents be executed by the Trustee
and a statement as to the reason such documents or pleadings are required and
that the execution and delivery thereof by the Trustee will not invalidate or
otherwise affect the lien of the Mortgage, except for the termination of such a
lien upon completion of the foreclosure proceeding or trustee's sale.

          Section 3.05  Reports to the Trustee; Annual Compliance Statements.
                        -----------------------------------------------------

          (a)  Not later than 15 days after each Distribution Date, the Master
Servicer shall deliver to the Trustee a statement setting forth the status of
the Certificate Account as of the close of business on such Distribution Date
stating that all distributions required to be made by the Master Servicer under
this Agreement have been made (or, if any required distribution has not been
made by the Master Servicer, specifying the nature and status thereof) and
showing, for the period covered by such statement, the aggregate amount of
deposits into and withdrawals from such account for each category of deposit and
withdrawal specified in Sections 3.01 and 3.02. Such statement may be in the
form of the then current Fannie Mae monthly accounting report for its Guaranteed
Mortgage Pass-Through Program with appropriate additions and changes, and shall
also include information as to the aggregate unpaid principal balance of all of
the Mortgage Loans as of the close of business as of the last day of the
calendar month immediately preceding such Distribution Date. Copies of such
statement shall be provided by the Trustee to any Certificateholder upon written
request, provided such statement is delivered, or caused to be delivered, by the
Master Servicer to the Trustee. Not later than 15 days after each Distribution
Date, the Master Servicer shall deliver to the Trustee a report identifying (i)
all requests made by Servicers for the release of documents by the Custodian
during the

                                      III-5

<PAGE>

immediately preceding calendar month and (ii) all documents released by the
Custodian during the immediately preceding calendar month.

          (b)  The Master Servicer shall deliver to the Trustee on or before
April 30 of each year, a certificate signed by an officer of the Master
Servicer, certifying that (i) such officer has reviewed the activities of the
Master Servicer during the preceding calendar year or portion thereof and its
performance under this agreement, (ii) to the best of such officer's knowledge,
based on such review, the Master Servicer has performed and fulfilled its
duties, responsibilities and obligations under this agreement in all material
respects throughout such year, or, if there has been a default in the
fulfillment of any such duties, responsibilities or obligations, specifying each
such default known to such officer and the nature and status thereof, and (iii)
(A) the Master Servicer has received from each Servicer any financial
statements, officer's certificates, accountant's statements or other information
required to be provided to the Master Servicer pursuant to the related Servicing
Agreement and (B) to the best of such officer's knowledge, based on a review of
the information provided to the Master Servicer by each Servicer as described in
(iii)(A) above, each Servicer has performed and fulfilled its duties,
responsibilities and obligations under the related Servicing Agreement in all
material respects throughout such year, or, if there has been a default in the
fulfillment of any such duties, responsibilities or obligations, specifying each
such default known to such officer and the nature and status thereof. Copies of
such officers' certificate shall be provided by the Trustee to any
Certificateholder upon written request provided such certificate is delivered,
or caused to be delivered, by the Master Servicer to the Trustee.

          Section 3.06  Title, Management and Disposition of Any REO Mortgage
                        -----------------------------------------------------
                        Loan.
                        -----

          The Master Servicer shall ensure that each REO Mortgage Loan is
administered by the related Servicer at all times so that it qualifies as
"foreclosure property" under the REMIC Provisions and that it does not earn any
"net income from foreclosure property" which is subject to tax under the REMIC
Provisions. In the event that a Servicer is unable to dispose of any REO
Mortgage Loan within the period mandated by each of the Servicing Agreements,
the Master Servicer shall monitor such Servicer to verify that such REO Mortgage
Loan is auctioned to the highest bidder within the period so specified. In the
event of any such sale of a REO Mortgage Loan, the Custodian shall, at the
written request of the Master Servicer and upon being supported with appropriate
forms therefor, within five Business Days of the deposit by the Master Servicer
of the proceeds of such sale or auction into the Certificate Account, release or
cause to be released to the entity identified by the Master Servicer the related
Owner Mortgage Loan File, Retained Mortgage Loan File, if applicable, and
Servicer Mortgage Loan 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 auction purchaser title to the REO Mortgage Loan and the Custodian
shall have no further responsibility with regard to such Owner Mortgage Loan
File, Retained Mortgage Loan File, if applicable, or Servicer Mortgage Loan
File. Neither the Trustee, the Master Servicer nor any Servicer, acting on
behalf of the Trust Estate, shall provide financing from the Trust Estate to any
purchaser of an REO Mortgage Loan.

                                      III-6

<PAGE>

          Section 3.07  Amendments to Servicing Agreements, Modification of
                        ---------------------------------------------------
                        Standard Provisions.
                        --------------------

          (a)    Subject to the prior written consent of the Trustee pursuant to
Section 3.07(b), the Master Servicer from time to time may, to the extent
permitted by the applicable Servicing Agreement, make such modifications and
amendments to such Servicing Agreement as the Master Servicer deems necessary or
appropriate to confirm or carry out more fully the intent and purpose of such
Servicing Agreement and the duties, responsibilities and obligations to be
performed by the Servicer thereunder. Such modifications may only be made if
they are consistent with the REMIC Provisions, as evidenced by an Opinion of
Counsel. Prior to the issuance of any modification or amendment, the Master
Servicer shall deliver to the Trustee such Opinion of Counsel and an Officer's
Certificate setting forth (i) the provision that is to be modified or amended,
(ii) the modification or amendment that the Master Servicer desires to issue and
(iii) the reason or reasons for such proposed amendment or modification.

          (b)    The Trustee shall consent to any amendment or supplement to a
Servicing Agreement proposed by the Master Servicer pursuant to Section 3.07(a),
which consent and amendment shall not require the consent of any
Certificateholder if it is (i) for the purpose of curing any mistake or
ambiguity or to further effect or protect the rights of the Certificateholders
or (ii) for any other purpose, provided such amendment or supplement for such
other purpose cannot reasonably be expected to adversely affect
Certificateholders. The lack of reasonable expectation of an adverse effect on
Certificateholders may be established through the delivery to the Trustee of (i)
an Opinion of Counsel to such effect or (ii) written notification from each
Rating Agency to the effect that such amendment or supplement will not result in
reduction of the current rating assigned by that Rating Agency to the
Certificates. Notwithstanding the two immediately preceding sentences, the
Trustee may, in its discretion, decline to enter into or consent to any such
supplement or amendment if its own rights, duties or immunities shall be
adversely affected.

          (c)(i) Notwithstanding anything to the contrary in this Section 3.07,
the Master Servicer from time to time may, without the consent of any
Certificateholder or the Trustee, enter into an amendment (A) to an Other
Servicing Agreement for the purpose of (i) eliminating or reducing Month End
Interest and (ii) providing for the remittance of Full Unscheduled Principal
Receipts by the applicable Servicer to the Master Servicer not later than the
24th day of each month (or if such day is not a Business Day, on the previous
Business Day) or (B) to the Wells Fargo Bank Servicing Agreement for the purpose
of changing the applicable Remittance Date to the 18th day of each month (or if
such day is not a Business Day, on the previous Business Day).

          (ii)   The Master Servicer may direct Wells Fargo Bank in its capacity
as Servicer to enter into an amendment to the Wells Fargo Bank Servicing
Agreement for the purposes described in Section 3.07(c)(i)(B)

          Section 3.08  Oversight of Servicing.
                        -----------------------

          The Master Servicer shall supervise, monitor and oversee the servicing
of the Mortgage Loans by each Servicer and the performance by each Servicer of
all services, duties,

                                      III-7

<PAGE>

responsibilities and obligations (including the obligation to maintain an Errors
and Omissions Policy and Fidelity Bond) that are to be observed or performed by
the Servicer under its respective Servicing Agreement. In performing its
obligations hereunder, the Master Servicer shall act in a manner consistent with
Accepted Master Servicing Practices and with the Trustee's and the
Certificateholders' reliance on the Master Servicer, and in a manner consistent
with the terms and provisions of any insurance policy required to be maintained
by the Master Servicer or any Servicer pursuant to this Agreement or any
Servicing Agreement. The Master Servicer acknowledges that prior to taking
certain actions required to service the Mortgage Loans, each Servicing Agreement
provides that the Servicer thereunder must notify, consult with, obtain the
consent of or otherwise follow the instructions of the Master Servicer. The
Master Servicer is also given authority to waive compliance by a Servicer with
certain provisions of its Servicing Agreement. In each such instance, the Master
Servicer shall promptly instruct such Servicer or otherwise respond to such
Servicer's request. In no event will the Master Servicer instruct such Servicer
to take any action, give any consent to action by such Servicer or waive
compliance by such Servicer with any provision of such Servicer's Servicing
Agreement if any resulting action or failure to act would be inconsistent with
the requirements of the Rating Agencies that rated the Certificates or would
otherwise have an adverse effect on the Certificateholders. Any such action or
failure to act shall be deemed to have an adverse effect on the
Certificateholders if such action or failure to act either results in (i) the
downgrading of the rating assigned by either Rating Agency to the Certificates,
(ii) the loss by the Trust Estate of REMIC status for federal income tax
purposes or (iii) the imposition of any Prohibited Transaction Tax or any
federal taxes on either the REMIC or the Trust Estate. The Master Servicer shall
have full power and authority in its sole discretion to take any action with
respect to the Trust Estate as may be necessary or advisable to avoid the
circumstances specified including clause (ii) or (iii) of the preceding
sentence.

          For the purposes of determining whether any modification of a Mortgage
Loan shall be permitted by the Master Servicer, such modification shall be
construed as a substitution of the modified Mortgage Loan for the Mortgage Loan
originally deposited in the Trust Estate if it would be a "significant
modification" within the meaning of Section 1.860G-2(b) of the regulations of
the U.S. Department of the Treasury. No modification shall be approved unless
(i) the modified Mortgage Loan would qualify as a Substitute Mortgage Loan under
Section 2.02 and (ii) with respect to any modification that occurs more than
three months after the Closing Date and is not the result of a default or a
reasonably foreseeable default under the Mortgage Loan, there is delivered to
the Trustee an Opinion of Counsel (at the expense of the party seeking to modify
the Mortgage Loan) to the effect that such modification would not be treated as
giving rise to a new debt instrument for federal income tax purposes as
described in the preceding sentence; provided, however, that no such Opinion of
Counsel need be delivered if the sole purpose of the modification is to reduce
the Monthly Payment on a Mortgage Loan as a result of a Curtailment such that
the Mortgage Loan is fully amortized by its original maturity date.

          During the term of this Agreement, the Master Servicer shall consult
fully with each Servicer as may be necessary from time to time to perform and
carry out the Master Servicer's obligations hereunder and otherwise exercise
reasonable efforts to encourage such Servicer to perform and observe the
covenants, obligations and conditions to be performed or observed by it under
its Servicing Agreement.

                                      III-8

<PAGE>

          The relationship of the Master Servicer 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.

          The Master Servicer shall administer the Trust Estate on behalf of the
Trustee and shall have full power and authority, acting alone or (subject to
Section 6.06) through one or more subcontractors, to do any and all things in
connection with such administration which it may deem necessary or desirable.
Upon the execution and delivery of this Agreement, and from time to time as may
be required thereafter, the Trustee shall furnish the Master Servicer or its
subcontractors with any powers of attorney and such other documents as may be
necessary or appropriate to enable the Master Servicer to carry out its
administrative duties hereunder.

          The Seller shall have a limited option to repurchase any defaulted
Mortgage Loan or REO Mortgage Loan during the following time periods: (i)
beginning on the first day of the second month following the month in which the
Master Servicer has reported that a Servicer has initiated foreclosure
proceedings with respect to such a defaulted Mortgage Loan, with such repurchase
option expiring on the last day of such second following month; (ii) beginning
on the first day of the second month following the month in which the Master
Servicer has reported that such defaulted Mortgage Loan has become an REO
Mortgage Loan, with such repurchase option expiring on the last day of such
second following month; and (iii) beginning on the day on which a Servicer
accepts a contractual commitment by a third party to purchase the Mortgaged
Property related to the defaulted Mortgage Loan or REO Mortgage Loan, with such
repurchase option expiring on the earlier of the last day of the month in which
such contractual commitment was accepted by the Servicer or the day immediately
prior to the day on which the closing occurs with respect to such third party
purchase of the Mortgaged Property related to the defaulted Mortgage Loan or REO
Mortgage Loan. The Seller shall be entitled to repurchase at its option any
Mortgage Loan in the Trust Estate which, pursuant to paragraph 5(b) of the
Mortgage Loan Purchase Agreement, Wells Fargo Bank requests the Seller to
repurchase and to sell to Wells Fargo Bank to facilitate the exercise of Wells
Fargo Bank's rights against the originator or a prior holder of such Mortgage
Loan. The purchase price for any Mortgage Loan repurchased pursuant to this
paragraph shall be 100% of the unpaid principal balance of such Mortgage Loan
plus accrued interest thereon at the Mortgage Interest Rate for such Mortgage
Loan, through the last day of the month in which such repurchase occurs. Upon
the receipt of such purchase price, the Master Servicer shall provide to the
Trustee the certification required by Section 3.04 and the Trustee and the
Custodian, if any, shall promptly release to the Seller the Owner Mortgage Loan
File and Retained Mortgage Loan File, if applicable, relating to the Mortgage
Loan being repurchased.

          In the event that (i) the Master Servicer determines at any time that,
notwithstanding the representations and warranties set forth in Section 2.03(b),
any Mortgage Loan is not a "qualified mortgage" within the meaning of Section
860G of the Code and (ii) the Master Servicer is unable to enforce the
obligation of the Seller to purchase such Mortgage Loan pursuant to Section 2.02
within two months of such determination, the Master Servicer shall cause such
Mortgage Loan to be auctioned to the highest bidder and sold out of the Trust
Estate no later than the date 90 days after such determination. In the event of
any such sale of a Mortgage Loan, the Custodian shall, at the written request of
the Master Servicer and upon being supported with appropriate forms therefor,
within five Business Days of the deposit by the

                                      III-9

<PAGE>

Master Servicer of the proceeds of such auction into the Certificate Account,
release or cause to be released to the entity identified by the Master Servicer
the related Owner Mortgage Loan File, Retained Mortgage Loan File, if
applicable, and Servicer Mortgage Loan 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 auction purchaser title to the Mortgage Loan and the
Custodian shall have no further responsibility with regard to such Owner
Mortgage Loan File, Retained Mortgage Loan File, if applicable, or Servicer
Mortgage Loan File. None of the Trustee, the Custodian, the Master Servicer or
any Servicer, acting on behalf of the Trustee, shall provide financing from the
Trust Estate to any purchaser of a Mortgage Loan.

          The Master Servicer, on behalf of the Trustee, shall, pursuant to the
Servicing Agreements, object to the foreclosure upon, or other related
conversion of the ownership of, any Mortgaged Property by the related Servicer
if (i) the Master Servicer believes such Mortgaged Property may be contaminated
with or affected by hazardous wastes or hazardous substances or (ii) such
Servicer does not agree to administer such Mortgaged Property, once the related
Mortgage Loan becomes an REO Mortgage Loan, in a manner which would not result
in a federal tax being imposed upon the Trust Estate or the REMIC.

          The Master Servicer may enter into a special servicing agreement with
an unaffiliated holder of 100% Percentage Interest of a Class of Class B
Certificates or a holder of a class of securities representing interests in the
Class B Certificates and/or other subordinated mortgage pass-through
certificates, such agreement to be substantially in the form of Exhibit M hereto
or subject to each Rating Agency's acknowledgment that the ratings of the
Certificates in effect immediately prior to the entering into of such agreement
would not be qualified, downgraded or withdrawn and the Certificates would not
be placed on credit review status (except for possible upgrading) as a result of
such agreement. Any such agreement may contain provisions whereby such holder
may instruct the Master Servicer to instruct a Servicer to the extent provided
in the applicable Servicing Agreement to commence or delay foreclosure
proceedings with respect to delinquent Mortgage Loans and will contain
provisions for the deposit of cash by the holder that would be available for
distribution to Certificateholders if Liquidation Proceeds are less than they
otherwise may have been had the Servicer acted in accordance with its normal
procedures.

          Section 3.09  Termination and Substitution of Servicing Agreements.
                        -----------------------------------------------------

          Upon the occurrence of any event for which a Servicer may be
terminated pursuant to its Servicing Agreement, the Master Servicer shall
promptly deliver to the Seller and the Trustee an Officer's Certificate
certifying that an event has occurred which may justify termination of such
Servicing Agreement, describing the circumstances surrounding such event and
recommending what action should be taken by the Trustee with respect to such
Servicer. If the Master Servicer recommends that such Servicing Agreement be
terminated, the Master Servicer's certification must state that the breach is
material and not merely technical in nature. Upon written direction of the
Master Servicer, based upon such certification, the Trustee shall promptly
terminate such Servicing Agreement. Notwithstanding the foregoing, in the event
that (i) Wells Fargo Bank in its capacity as Servicer fails to make any advance,
as a consequence of which the Trustee is obligated to make an advance pursuant
to Section 3.03 and (ii) the Trustee provides Wells Fargo Bank written notice of
the failure to make such advance and such failure

                                     III-10

<PAGE>

shall continue unremedied for a period of 15 days after receipt of such notice,
the Trustee shall terminate the Wells Fargo Bank Servicing Agreement without the
recommendation of the Master Servicer. The Master Servicer shall indemnify the
Trustee and hold it harmless from and against any and all claims, liabilities,
costs and expenses (including, without limitation, reasonable attorneys' fees)
arising out of, or assessed against the Trustee in connection with termination
of such Servicing Agreement at the direction of the Master Servicer. If the
Trustee terminates such Servicing Agreement, the Trustee may enter into a
substitute Servicing Agreement with the Master Servicer or, at the Master
Servicer's nomination, with another mortgage loan service company acceptable to
the Trustee, the Master Servicer and each Rating Agency under which the Master
Servicer or such substitute servicer, as the case may be, shall assume, satisfy,
perform and carry out all liabilities, duties, responsibilities and obligations
that are to be, or otherwise were to have been, satisfied, performed and carried
out by such Servicer under such terminated Servicing Agreement. Until such time
as the Trustee enters into a substitute servicing agreement with respect to the
Mortgage Loans previously serviced by such Servicer, the Master Servicer shall
assume, satisfy, perform and carry out all obligations which otherwise were to
have been satisfied, performed and carried out by such Servicer under its
terminated Servicing Agreement. However, in no event shall the Master Servicer
be deemed to have assumed the obligations of a Servicer to advance payments of
principal and interest on a delinquent Mortgage Loan in excess of the Master
Servicer's independent Periodic Advance obligation under Section 3.03 of this
Agreement. As compensation for the Master Servicer of any servicing obligations
fulfilled or assumed by the Master Servicer, the Master Servicer shall be
entitled to any servicing compensation to which a Servicer would have been
entitled if the Servicing Agreement with such Servicer had not been terminated.

          Section 3.10  Application of Net Liquidation Proceeds.
                        ----------------------------------------

          For all purposes under this agreement, Net Liquidation Proceeds
received from a Servicer shall be allocated first to accrued and unpaid interest
on the related Mortgage Loan and then to the unpaid principal balance thereof.

          Section 3.11  Exchange Act Reports.
                        ---------------------

          The Master Servicer shall, on behalf of the Seller, make all filings
required to be made by the Seller with respect to the Class A Certificates and
the Class B-1, Class B-2 and Class B-3 Certificates pursuant to the Exchange
Act. The Master Servicer shall file directly with the Securities and Exchange
Commission the certification required under the Sarbanes-Oxley Act of 2002,
which shall be signed by a senior officer in charge of the master servicing
function of the Master Servicer.

                                     III-11

<PAGE>

                                   ARTICLE IV

                    DISTRIBUTIONS IN RESPECT OF CERTIFICATES;
                         PAYMENTS TO CERTIFICATEHOLDERS;
                             STATEMENTS AND REPORTS

          Section 4.01  Distributions.
                        --------------

          (a)  On each Distribution Date, the Pool Distribution Amount will be
applied in the following amounts, to the extent the Pool Distribution Amount is
sufficient therefor, in the manner and in the order of priority as follows:

          first, to the Class A Certificates, pro rata, based upon their
respective Interest Accrual Amounts, in an aggregate amount up to the Class A
Interest Accrual Amount with respect to such Distribution Date;

          second, to the Class A Certificates, pro rata, based upon their
respective Class A Unpaid Interest Shortfalls, in an aggregate amount up to the
Aggregate Class A Unpaid Interest Shortfall;

          third, to the Class A Certificates, in an aggregate amount up to the
Class A Optimal Principal Amount, such distribution to be allocated among such
Classes in accordance with Section 4.01(b) or Section 4.01(c), as applicable;

          fourth, to the Class B-1 Certificates, in an amount up to the Interest
Accrual Amount for the Class B-1 Certificates with respect to such Distribution
Date;

          fifth, to the Class B-1 Certificates in an amount up to the Class B-1
Unpaid Interest Shortfall;

          sixth, to the Class B-1 Certificates in an amount up to the Class B-1
Optimal Principal Amount;

          seventh, to the Class B-2 Certificates, in an amount up to the
Interest Accrual Amount for the Class B-2 Certificates with respect to such
Distribution Date;

          eighth, to the Class B-2 Certificates in an amount up to the Class B-2
Unpaid Interest Shortfall;

          ninth, to the Class B-2 Certificates in an amount up to the Class B-2
Optimal Principal Amount;

          tenth, to the Class B-3 Certificates, in an amount up to the Interest
Accrual Amount for the Class B-3 Certificates with respect to such Distribution
Date;

          eleventh, to the Class B-3 Certificates in an amount up to the Class
B-3 Unpaid Interest Shortfall;

                                      IV-1

<PAGE>

          twelfth, to the Class B-3 Certificates in an amount up to the Class
B-3 Optimal Principal Amount;

          thirteenth, to the Class B-4 Certificates in an amount up to the
Interest Accrual Amount for the Class B-4 Certificates with respect to such
Distribution Date;

          fourteenth, to the Class B-4 Certificates in an amount up to the Class
B-4 Unpaid Interest Shortfall;

          fifteenth, to the Class B-4 Certificates in an amount up to the Class
B-4 Optimal Principal Amount;

          sixteenth, to the Class B-5 Certificates in an amount up to the
Interest Accrual Amount for the Class B-5 Certificates with respect to such
Distribution Date;

          seventeenth, to the Class B-5 Certificates in an amount up to the
Class B-5 Unpaid Interest Shortfall;

          eighteenth, to the Class B-5 Certificates in an amount up to the Class
B-5 Optimal Principal Amount;

          nineteenth, to the Class B-6 Certificates in an amount up to the
Interest Accrual Amount for the Class B-6 Certificates with respect to such
Distribution Date;

          twentieth, to the Class B-6 Certificates in an amount up to the Class
B-6 Unpaid Interest Shortfall;

          twenty-first, to the Class B-6 Certificates in an amount up to the
Class B-6 Optimal Principal Amount; and

          twenty-second, to the Holder of the Class A-R Certificate, any amounts
remaining in the Payment Account.

          Notwithstanding the foregoing, after the Principal Balance of any
Class has been reduced to zero, such Class will be entitled to no further
distributions of principal or interest (including, without limitation, any
Unpaid Interest Shortfalls).

          On each Distribution Date, any Reimbursement Amount shall be
distributed sequentially to the Classes of Certificates then outstanding which
bore the loss to which such Reimbursement Amount relates beginning with the most
senior of such Class of Certificates, up to, with respect to each Class, the
amount of loss borne by such Class. Any Reimbursement Amount remaining after the
application described in the preceding sentence shall be included in the Pool
Distribution Amount.

          With respect to any Distribution Date, the amount of the Principal
Adjustment, if any, attributable to any Class B Certificates will be allocated
to the Classes of Class A Certificates and any Class of Class B Certificates
with a lower numerical designation pro rata based on their outstanding Principal
Balances.

                                      IV-2

<PAGE>

          (b)  On each Distribution Date occurring prior to the Subordination
Depletion Date, the Class A Principal Distribution Amount will be allocated
among and distributed in reduction of the Principal Balances of the Class A
Certificates, sequentially, as follows:

          first, to the Class A-R Certificates;

          second, concurrently, as follows:

          (a)  _____________%, sequentially, as follows:

               (i)  concurrently, as follows:

                    (A)  _____________% to the Class A-1 Certificates; and

                    (B)  _____________%, sequentially, to the Class A-2 and
                    Class A-3 Certificates; and

          (b)  _____________%, sequentially, as follows:

               (i)  concurrently, to the Class A-5 and Class A-6 Certificates,
               pro rata; and

               (ii) to the Class A-7 Certificates;

          (c)  _______________%, as follows:

               (i)  On each Distribution Date prior to the Distribution Date in
               _____ 20__, sequentially, as follows:

                    (A)  sequentially, to the Class A-8 and Class A-9
                         Certificates, up to the PAC Principal Amount for such
                         Distribution Date;

                    (B)  to the Class A-10 Certificates; and

                    (C)  sequentially, to the Class A-8 and Class A-9
                         Certificates; and

               (ii) (On each Distribution Date on and after the Distribution
               Date in March 2014, concurrently, to the Class A-8, Class A-9 and
               Class A-10 Certificates, pro rata; and

          (d)  _____________% to the Class A-11 Certificates.

          As used above, the "PAC Principal Amount" for any Distribution Date
means the amount, if any, that would reduce the Principal Balances of the Class
A-8 and Class A-9 Certificates (the "PAC Group") to the percentage of the sum of
the Original Principal Balances of the Class A-8 and Class A-9 Certificates
shown in the related table with respect to such Distribution Date.

                                      IV-3

<PAGE>

          The following table sets forth for each Distribution Date the planned
Principal Balances for the PAC Group, expressed as a percentage of the Original
Principal Balances of the PAC Group.

                           Planned Principal Balances
             as Percentages of Original Aggregate Principal Balance

                                    PAC Group

<TABLE>
<CAPTION>
                      Percentage of
                         Original                             Percentage of                            Percentage of
                        Aggregate                           Original Aggregate                       Original Aggregate
Distribution Date   Principal Balance   Distribution Date   Principal Balance    Distribution Date   Principal Balance
-----------------   -----------------   -----------------   ------------------   -----------------   ------------------
<S>                 <C>                 <C>                 <C>                  <C>                 <C>
</TABLE>

          (c)  Notwithstanding the foregoing, on each Distribution Date
occurring on or subsequent to the Subordination Depletion Date, the Class A
Principal Distribution Amount shall be distributed among the Class A
Certificates pro rata in accordance with their outstanding Principal Balances
without regard to either the proportions or the priorities set forth in Section
4.01(b).

          (d)  (i) For purposes of determining whether the Classes of Class B
Certificates are eligible to receive unscheduled principal distributions (other
than Liquidation Proceeds that are not Partial Liquidation Proceeds) with
respect to any Distribution Date, the following tests shall apply:

          (A)  if the Current Class B-1 Fractional Interest is less than the
     Original Class B-1 Fractional Interest and the Class B-1 Principal Balance
     is greater than zero, the Class B-2, Class B-3, Class B-4, Class B-5 and
     Class B-6 Certificates shall not be eligible to receive distributions of
     such unscheduled principal; or

          (B)  if the Current Class B-2 Fractional Interest is less than the
     Original Class B-2 Fractional Interest and the Class B-2 Principal Balance
     is greater than zero, the Class B-3, Class B-4, Class B-5 and Class B-6
     Certificates shall not be eligible to receive distributions of such
     unscheduled principal; or

          (C)  if the Current Class B-3 Fractional Interest is less than the
     Original Class B-3 Fractional Interest and the Class B-3 Principal Balance
     is greater than zero, the Class B-4, Class B-5 and Class B-6 Certificates
     shall not be eligible to receive distributions of such unscheduled
     principal; or

          (D)  if the Current Class B-4 Fractional Interest is less than the
     Original Class B-4 Fractional Interest and the Class B-4 Principal Balance
     is greater than zero, the Class B-5 and Class B-6 Certificates shall not be
     eligible to receive distributions of such unscheduled principal; or

          (E)  if the Current Class B-5 Fractional Interest is less than the
     Original Class B-5 Fractional Interest and the Class B-5 Principal Balance
     is greater than zero, the

                                      IV-4

<PAGE>

     Class B-6 Certificates shall not be eligible to receive distributions of
     such unscheduled principal.

          (ii) Notwithstanding the foregoing, if on any Distribution Date the
aggregate principal distributions to Holders of the Classes of Class B
Certificates would reduce the Principal Balances of the Classes of Class B
Certificates below zero, first the Class B Prepayment Percentage of any affected
Class of Class B Certificates for such Distribution Date beginning with the
affected Class with the lowest numerical Class designation and then, if
necessary, the Class B Percentage of such Class of the Class B Certificates for
such Distribution Date shall be reduced to the respective percentages necessary
to bring the Principal Balance of such Class of Class B Certificates to zero.
The Class B Prepayment Percentages and the Class B Percentages of the remaining
Classes of Class B Certificates will be recomputed substituting for the
Subordinated Prepayment Percentage and Subordinated Percentage in such
computations the difference between (A) the Subordinated Prepayment Percentage
or Subordinated Percentage as the case may be, and (B) the percentages
determined in accordance with the preceding sentence necessary to bring the
Principal Balances of the affected Classes of Class B Certificates to zero;
provided, however, that if the Principal Balances of all the Classes of Class B
Certificates eligible to receive distributions of unscheduled principal pursuant
to clause (i) shall be reduced to zero on such Distribution Date, the Class B
Prepayment Percentage of the Class of Class B Certificates with the lowest
numerical Class designation which would otherwise be ineligible to receive such
distributions of unscheduled principal in accordance with this Section shall
equal the remainder of the Subordinated Prepayment Percentage for such
Distribution Date minus the sum of the Class B Prepayment Percentages of the
Classes of Class B Certificates having lower numerical Class designations, if
any. Any entitlement of any Class of Class B Certificates to principal payments
solely pursuant to this clause (ii) shall not cause such Class to be regarded as
being eligible to receive such unscheduled principal distributions for the
purpose of applying the definition of its Class B Prepayment Percentage.

          (e)  On each Distribution Date other than the Final Distribution Date
(if such Final Distribution Date is in connection with a purchase of the assets
of the Trust Estate by the Seller), the Paying Agent shall, on behalf of the
Master Servicer, from funds remitted to it by the Master Servicer, distribute to
each Certificateholder of record on the preceding Record Date (other than as
provided in Section 9.01 respecting the final distribution to Certificateholders
or in the last paragraph of this Section 4.01(e) respecting the final
distribution in respect of any Class) either in immediately available funds by
wire transfer to the account of such Certificateholder at a bank or other entity
having appropriate facilities therefor, if such Certificateholder holds
Certificates having a Denomination at least equal to that specified in Section
11.21, and has so notified the Master Servicer or, if applicable, the Paying
Agent at least seven Business Days prior to the Distribution Date or, if such
Holder holds Certificates having, in the aggregate, a Denomination less than the
requisite minimum Denomination or if such Holder holds the Class A-R Certificate
or has not so notified the Paying Agent, by check mailed to such Holder at the
address of such Holder appearing in the Certificate Register, such Holder's
share of the Class A Distribution Amount with respect to each Class of Class A
Certificates and the Class B Distribution Amount with respect to each Class of
Class B Certificates.

          In the event that, on any Distribution Date prior to the Final
Distribution Date, the Principal Balance of any Class of Class A Certificates
(other than the Class A-R Certificate) or

                                      IV-5

<PAGE>

the Principal Balance of any Class of Class B Certificates would be reduced to
zero, the Master Servicer shall, as soon as practicable after the Determination
Date relating to such Distribution Date, send a notice to the Trustee. The
Trustee will then send a notice to each Certificateholder of such Class with a
copy to the Certificate Registrar, specifying that the final distribution with
respect to such Class will be made on such Distribution Date only upon the
presentation and surrender of such Certificateholder's Certificates at the
office or agency of the Trustee therein specified; provided, however, that the
failure to give such notice will not entitle a Certificateholder to any interest
beyond the interest payable with respect to such Distribution Date in accordance
with Section 4.01(a).

          (f)  The Paying Agent (or if no Paying Agent is appointed by the
Master Servicer, the Master Servicer) shall withhold or cause to be withheld
such amounts as may be required by the Code (giving full effect to any
exemptions from withholding and related certifications required to be furnished
by Certificateholders and any reductions to withholding by virtue of any
bilateral tax treaties and any applicable certification required to be furnished
by Certificateholders with respect thereto) from distributions to be made to
Persons other than U.S. Persons ("Non-U.S. Persons"). Amounts withheld pursuant
to this Section 4.01(f) shall be treated as having been distributed to the
related Certificateholder for all purposes of this Agreement. For the purposes
of this paragraph, a "U.S. Person" is a citizen or resident of the United
States, a corporation or partnership (unless, in the case of a partnership,
Treasury regulations are adopted that provide otherwise) created or organized in
or under the laws of the United States, any state thereof or the District of
Columbia, including an entity treated as a corporation or partnership for
federal income tax purposes, an estate whose income is subject to United States
federal income tax regardless of its source, or a trust if a court within the
United States is able to exercise primary supervision over the administration of
such trust, and one or more such U.S. Persons have the authority to control all
substantial decisions of such trust (or, to the extent provided in applicable
Treasury regulations, certain trusts in existence on August 20, 1996 which are
eligible to elect to be treated as U.S. Persons).

          Section 4.02  Allocation of Realized Losses.
                        ------------------------------

          (a)  With respect to any Distribution Date, the principal portion of
Realized Losses (other than Debt Service Reductions) will be allocated as
follows:

          first, to the Class B-6 Certificates until the Class B-6 Principal
Balance has been reduced to zero;

          second, to the Class B-5 Certificates until the Class B-5 Principal
Balance has been reduced to zero;

          third, to the Class B-4 Certificates until the Class B-4 Principal
Balance has been reduced to zero;

          fourth, to the Class B-3 Certificates until the Class B-3 Principal
Balance has been reduced to zero;

          fifth, to the Class B-2 Certificates until the Class B-2 Principal
Balance has been reduced to zero;

                                      IV-6

<PAGE>

          sixth, to the Class B-1 Certificates until the Class B-1 Principal
Balance has been reduced to zero; and

          seventh, to the Class A Certificates.

          This allocation of Realized Losses will be effected through the
reduction of the applicable Class's Principal Balance through the operation of
the third sentence under the definition of Principal Balance and the provisos in
the definitions of Class B-1 Principal Balance, Class B-2 Principal Balance,
Class B-3 Principal Balance, Class B-4 Principal Balance, Class B-5 Principal
Balance and Class B-6 Principal Balance.

          (b)  Any Realized Losses allocated to a Class of Class A Certificates
or Class B Certificates pursuant to Section 4.02(a) shall be allocated among the
Certificates of such Class based on their Percentage Interests.

          (c)  After the Class B Principal Balance has been reduced to zero, the
interest portion of Realized Losses will be allocated among the outstanding
Classes of Class A Certificates based on their Class A Interest Percentages.

          (d)  Realized Losses allocated in accordance with this Section 4.02
will be allocated as follows: (i) Liquidated Loan Losses on Liquidated Loans for
which the Liquidation Proceeds were received during, and Bankruptcy Losses
incurred in a period corresponding to, an Unscheduled Principal Receipt Period
for Full Unscheduled Principal Receipts that is a Mid-Month Receipt Period will
be allocated on the Determination Date in the month following the month in which
such Mid-Month Receipt Period ended and (ii) Liquidated Loan Losses on
Liquidated Loans for which the Liquidation Proceeds were received during, and
Bankruptcy Losses incurred in a period corresponding to, an Unscheduled
Principal Receipt Period for Full Unscheduled Principal Receipts that is a Prior
Month Receipt Period will be allocated on the Determination Date in the second
month following the month which is such Prior Month Receipt Period.

          Section 4.03  Paying Agent.
                        -------------

          (a)  The Master Servicer hereby appoints the Trustee as initial Paying
Agent to make distributions to Certificateholders and to forward to
Certificateholders the periodic statements and the annual statements required by
Section 4.04 as agent of the Master Servicer.

          The Master Servicer may, at any time, remove or replace the Paying
Agent.

          The Master Servicer shall cause any Paying Agent that is not the
Trustee to execute and deliver to the Trustee an instrument in which such Paying
Agent agrees with the Trustee that such Paying Agent shall:

          (i)   hold all amounts remitted to it by the Master Servicer for
     distribution to Certificateholders in trust for the benefit of
     Certificateholders until such amounts are distributed to Certificateholders
     or otherwise disposed of as herein provided;

                                      IV-7

<PAGE>

          (ii)  give the Trustee notice of any default by the Master Servicer in
     remitting any required amount; and

          (iii) at any time during the continuance of any such default, upon the
     written request of the Trustee, forthwith pay to the Trustee all amounts
     held in trust by such Paying Agent.

          (b)  The Paying Agent shall establish and maintain a Payment Account,
which shall be a separate trust account and an Eligible Account, in which the
Master Servicer shall cause to be deposited from funds in the Certificate
Account or, to the extent required hereunder, from its own funds (i) at or
before 10:00 a.m., New York time, on the Business Day preceding each
Distribution Date, by wire transfer of immediately available funds, any Periodic
Advance for such Distribution Date, pursuant to Section 3.03 and (ii) at or
before 10:00 a.m., New York time, on the Business Day preceding each
Distribution Date, by wire transfer of immediately available funds, an amount
equal to the Pool Distribution Amount. The Master Servicer may cause the Paying
Agent to invest the funds in the Payment Account. Any such investment shall be
in Eligible Investments, which shall mature not later than the Business Day
preceding the related Distribution Date (unless the Eligible Investments are
obligations of the Trustee or an affiliate of the Trustee, in which case such
Eligible Investments shall mature not later than the Distribution Date), and
shall not be sold or disposed of prior to maturity. 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
Payment Account by the Master Servicer out of its own funds immediately as
realized. The Paying Agent may withdraw from the Payment Account any amount
deposited in the Payment Account that was not required to be deposited therein
and may clear and terminate the Payment Account pursuant to Section 9.01.

          Section 4.04  Statements to Certificateholders;
                        ---------------------------------
                        Reports to the Trustee and the Seller.
                        --------------------------------------

          Concurrently with each distribution pursuant to Section 4.01(e), the
Master Servicer, or the Paying Agent appointed by the Master Servicer (upon
receipt of such statement from the Master Servicer), shall forward or cause to
be forwarded by mail to each Holder of a Certificate and the Seller a statement
setting forth:

          (i)     the amount of such distribution to Holders of each Class of
     Class A Certificates allocable to principal, separately identifying the
     aggregate amount of any Unscheduled Principal Receipts included therein;

          (ii)    (a) the amount of such distribution to Holders of each Class
     of Class A Certificates allocable to interest, (b) the amount of the
     Current Class A Interest Distribution Amount allocated to each Class of
     Class A Certificates, (c) any Class A Interest Shortfall Amounts arising
     with respect to such Distribution Date and any remaining Class A Unpaid
     Interest Shortfall with respect to each Class after giving effect to such
     distribution, (d) the amount of any Non-Supported Interest Shortfall
     allocated to each Class of Class A Certificates for such Distribution Date
     and (e) the amount of any

                                      IV-8

<PAGE>

     Relief Act Shortfall allocated to each Class of Class A Certificates for
     such Distribution Date;

          (iii)   the amount of such distribution to Holders of each Class of
     Class B Certificates allocable to principal, separately identifying the
     aggregate amount of any Unscheduled Principal Receipts included therein;

          (iv)    (a) the amount of such distribution to Holders of each Class
     of Class B Certificates allocable to interest, (b) the amount of the
     Current Class B Interest Distribution Amount allocated to each Class of
     Class B Certificates (c) any Class B Interest Shortfall Amounts arising
     with respect to such Distribution Date and any remaining Class B Unpaid
     Interest Shortfall with respect to each Class of Class B Certificates after
     giving effect to such distribution, (d) the amount of any Non-Supported
     Interest Shortfall allocated to each Class of Class B Certificates for such
     Distribution Date and (e) the amount of any Relief Act Shortfall allocated
     to each Class of Class B Certificates for such Distribution Date;

          (v)     the amount of any Periodic Advance by any Servicer, the Master
     Servicer or the Trustee pursuant to the Servicing Agreements or this
     Agreement;

          (vi)    the number of Mortgage Loans outstanding as of the preceding
     Determination Date;

          (vii)   the Class A Principal Balance, the Principal Balance of each
     Class of Class A Certificates, the Class B Principal Balance and the
     Principal Balance of each Class of Class B Certificates as of the following
     Determination Date after giving effect to the distributions of principal
     made, and the principal portion of Realized Losses, if any, allocated with
     respect to such Distribution Date;

          (viii)  the Adjusted Pool Amount and the Pool Scheduled Principal
     Balance of the Mortgage Loans for such Distribution Date;

          (ix)    the aggregate Scheduled Principal Balances of the Mortgage
     Loans serviced by Wells Fargo Bank in its capacity as Servicer and,
     collectively, by the Other Servicers as of such Distribution Date;

          (x)     the Class A Percentage for such Distribution Date;

          (xi)    the Class A Prepayment Percentage for such Distribution Date;

          (xii)   the Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and
     Class B-6 Percentages for such Distribution Date;

          (xiii)  the Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and
     Class B-6 Prepayment Percentages for such Distribution Date;

          (xiv)   the number and aggregate principal balances of Mortgage Loans
     delinquent (a) one month, (b) two months and (c) three months or more;

                                      IV-9

<PAGE>

          (xv)    the number and aggregate principal balances of the Mortgage
     Loans in foreclosure as of the preceding Determination Date;

          (xvi)   the book value of any real estate acquired through foreclosure
     or grant of a deed in lieu of foreclosure;

          (xvii)  the principal and interest portions of Realized Losses
     allocated as of such Distribution Date;

          (xviii) the amount by which the Principal Balance of each Class of
     Class B Certificates has been reduced as a result of Realized Losses
     allocated as of such Distribution Date;

          (xix)   the unpaid principal balance of any Mortgage Loan as to which
     the Servicer of such Mortgage Loan has determined not to foreclose because
     it believes the related Mortgaged Property may be contaminated with or
     affected by hazardous wastes or hazardous substances;

          (xx)    the amount of the aggregate Servicing Fees and Master
     Servicing Fees paid (and not previously reported) with respect to the
     related Distribution Date and the amount by which the aggregate Available
     Master Servicer Compensation has been reduced by the Prepayment Interest
     Shortfall for the related Distribution Date;

          (xxi)   the amount of PMI Advances made by a Servicer, if any; and

          (xxii)  such other customary information as the Master Servicer deems
     necessary or desirable to enable Certificateholders to prepare their tax
     returns;

and shall deliver a copy of each type of statement to the Trustee, who shall
provide copies thereof to Persons making written request therefor at the
Corporate Trust Office.

          In the case of information furnished with respect to a Class of Class
A Certificates pursuant to clauses (i) and (ii) above and with respect to a
Class of Class B Certificates pursuant to clauses (iii) and (iv) above, the
amounts shall be expressed as a dollar amount per Class A or Class B Certificate
(other than the Class A-R Certificate) with a $1,000 Denomination, and as a
dollar amount per Class A-R Certificate with a $100 Denomination.

          Within a reasonable period of time after the end of each calendar
year, the Trustee shall, upon request, furnish or cause to be furnished to each
Person who at any time during the calendar year was the Holder of a Certificate
a statement containing the information set forth in clauses (i) and (ii)(a)
above in the case of a Class A Certificateholder and the information set forth
in clauses (iii) and (iv)(a) above in the case of a Class B Certificateholder
aggregated for such calendar year or applicable portion thereof during which
such Person was a Certificateholder. Such obligation of the Trustee shall be
deemed to have been satisfied to the extent that substantially comparable
information shall be provided by the Master Servicer or the Trustee pursuant to
any requirements of the Code from time to time in force.

                                      IV-10

<PAGE>

          Prior to the close of business on the third Business Day preceding
each Distribution Date, the Master Servicer shall furnish a statement to the
Trustee, any Paying Agent and the Seller (the information in such statement to
be made available to Certificateholders by the Trustee on written request)
setting forth the Class A Distribution Amount with respect to each Class of
Class A Certificates and the Class B Distribution Amount with respect to each
Class of Class B Certificates. The determination by the Master Servicer of such
amounts shall, in the absence of obvious error, be presumptively deemed to be
correct for all purposes hereunder and the Trustee and the Paying Agent shall be
protected in relying upon the same without any independent check or
verification.

          In addition to the reports required pursuant to this Section 4.04, the
Paying Agent shall make available upon request to each Holder and each proposed
transferee of a Class B-4, Class B-5 or Class B-6 Certificate such additional
information, if any, as may be required to permit the proposed transfer to be
effected pursuant to Rule 144A, which information shall be provided on a timely
basis to the Paying Agent by the Master Servicer.

          Section 4.05  Reports to Mortgagors and the Internal Revenue Service.
                        -------------------------------------------------------

          The Master Servicer shall, in each year beginning after the Cut-Off
Date, make the reports of foreclosures and abandonments of any Mortgaged
Property as required by Code Section 6050J. In order to facilitate this
reporting process, the Master Servicer shall request that each Servicer, on or
before January 15th of each year, shall provide to the Internal Revenue Service,
with copies to the Master Servicer, reports relating to each instance occurring
during the previous calendar year in which such Servicer (i) on behalf of the
Trustee acquires an interest in a Mortgaged Property through foreclosure or
other comparable conversion in full or partial satisfaction of a Mortgage Loan
serviced by such Servicer, or (ii) knows or has reason to know that a Mortgaged
Property has been abandoned. Reports from the Servicers shall be in form and
substance sufficient to meet the reporting requirements imposed by Code Section
6050J. In addition, each Servicer shall provide the Master Servicer with
sufficient information to allow the Master Servicer to, for each year ending
after the Cut-Off Date, provide, or cause to be provided, to the Internal
Revenue Service and the Mortgagors such information as is required under Code
Sections 6050H (regarding payment of interest) and 6050P (regarding cancellation
of indebtedness).

          Section 4.06  Calculation of Amounts; Binding Effect of
                        -----------------------------------------
                        Interpretations and Actions of Master Servicer.
                        -----------------------------------------------

          The Master Servicer will compute the amount of all distributions to be
made on the Certificates and all losses to be allocated to the Certificates. In
the event that the Master Servicer concludes that any ambiguity or uncertainty
exists in any provisions of this Agreement relating to distributions to be made
on the Certificates, the allocation of losses to the Certificates or otherwise,
the interpretation of such provisions and any actions taken by the Master
Servicer in good faith to implement such interpretation shall be binding upon
Certificateholders.

                                      IV-11

<PAGE>

                                    ARTICLE V

                                THE CERTIFICATES

          Section 5.01  The Certificates.
                        -----------------

          (a)  The Class A and Class B Certificates shall be issued only in
minimum Denominations of a Single Certificate and, except for the Class A-R
Certificate, integral multiples of $1,000 in excess thereof (except, if
necessary, for one Certificate of each Class (other than the Class A-R
Certificate) that evidences one Single Certificate plus such additional
principal portion as is required in order for all Certificates of such Class to
equal the aggregate Original Principal Balance of such Class), and shall be
substantially in the respective forms set forth as Exhibits A-1, A-2, A-3, A-4,
A-5, A-6, A-7, A-8, A-9, A-10, A-11, A-R, B-1, B-2, B-3, B-4, B-5, B-6 and C
(reverse side of Certificates) hereto. On original issue the Certificates shall
be executed and delivered by the Trustee to or upon the order of the Seller upon
receipt by the Trustee or the Custodian of the documents specified in Section
2.01(a). The aggregate principal portion evidenced by the Class A and Class B
Certificates shall be the sum of the amounts specifically set forth in the
respective Certificates. The Certificates shall be executed by manual or
facsimile signature on behalf of the Trustee by any Responsible Officer thereof.
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 Certificates 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 manually countersigned by a Responsible Officer of the Trustee, or unless
there appears on such Certificate a certificate of authentication executed by
the Authenticating Agent by manual signature, and such countersignature or
certificate upon a 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.

          Until such time as Definitive Certificates are issued pursuant to
Section 5.07, each Book-Entry Certificate shall bear the following legend:

          "Unless this certificate is presented by an authorized representative
of [the Clearing Agency] to the Seller or its agent for registration of
transfer, exchange or payment, and any certificate issued is registered in the
name of [the Clearing Agency] or such other name as requested by an authorized
representative of [the Clearing Agency] and any payment is made to [the Clearing
Agency], any transfer, pledge or other use hereof for value or otherwise by or
to any person is wrongful since the registered owner hereof, [the Clearing
Agency], has an interest herein."

          (b)  Upon original issuance, the Book-Entry Certificates shall be
issued in the form of one or more typewritten certificates, to be delivered to
The Depository Trust Company, the initial Clearing Agency, by, or on behalf of,
the Seller or to, and deposited with the Certificate Custodian, on behalf of The
Depository Trust Company, if directed to do so pursuant instructions from The
Depository Trust Company. Such Certificates shall initially be registered

                                       V-1

<PAGE>

in the Certificate Register in the name of the nominee of the initial Clearing
Agency, and no Beneficial Owner will receive a definitive certificate
representing such Beneficial Owner's interest in the Book-Entry Certificates,
except as provided in Section 5.07. Unless and until definitive, fully
registered certificates ("Definitive Certificates") have been issued to
Beneficial Owners pursuant to Section 5.07:

          (i)   the provisions of this Section 5.01(b) shall be in full force
     and effect;

          (ii)  the Seller, the Master Servicer, the Certificate Registrar and
     the Trustee may deal with the Clearing Agency for all purposes (including
     the making of distributions on the Book-Entry Certificates and the taking
     of actions by the Holders of Book-Entry Certificates) as the authorized
     representative of the Beneficial Owners;

          (iii) to the extent that the provisions of this Section 5.01(b)
     conflict with any other provisions of this Agreement, the provisions of
     this Section 5.01(b) shall control;

          (iv)  the rights of Beneficial Owners shall be exercised only through
     the Clearing Agency and shall be limited to those established by law, the
     rules, regulations and procedures of the Clearing Agency and agreements
     between such Beneficial Owners and the Clearing Agency and/or the Clearing
     Agency Participants, and all references in this Agreement to actions by
     Certificateholders shall, with respect to the Book-Entry Certificates,
     refer to actions taken by the Clearing Agency upon instructions from the
     Clearing Agency Participants, and all references in this Agreement to
     distributions, notices, reports and statements to Certificateholders shall,
     with respect to the Book-Entry Certificates, refer to distributions,
     notices, reports and statements to the Clearing Agency or its nominee, as
     registered holder of the Book-Entry Certificates, as the case may be, for
     distribution to Beneficial Owners in accordance with the procedures of the
     Clearing Agency; and

          (v)   the initial Clearing Agency will make book-entry transfers among
     the Clearing Agency Participants and receive and transmit distributions of
     principal and interest on the Certificates to the Clearing Agency
     Participants, for distribution by such Clearing Agency Participants to the
     Beneficial Owners or their nominees.

          For purposes of any provision of this Agreement requiring or
permitting actions with the consent of, or at the direction of, Holders of
Book-Entry Certificates evidencing specified Voting Interests, such direction or
consent shall be given by Beneficial Owners having the requisite Voting
Interests, acting through the Clearing Agency.

          Unless and until Definitive Certificates have been issued to
Beneficial Owners pursuant to Section 5.07, copies of the reports or statements
referred to in Section 4.04 shall be available to Beneficial Owners upon written
request to the Trustee at the Corporate Trust Office.

          Section 5.02  Registration of Certificates.
                        -----------------------------

          (a)  The Trustee shall cause to be kept at one of the offices or
agencies to be maintained in accordance with the provisions of Section 5.06 a
Certificate Register in which, subject to such reasonable regulations as it may
prescribe, the Trustee shall provide for the

                                       V-2

<PAGE>

registration of Certificates and of transfers and exchanges of Certificates as
herein provided. The Trustee shall act as, or shall appoint, a Certificate
Registrar for the purpose of registering Certificates and transfers and
exchanges of Certificates as herein provided.

          Upon surrender for registration of transfer of any Certificate at any
office or agency maintained for such purpose pursuant to Section 5.06 (and
subject to the provisions of this Section 5.02) the Trustee shall execute, and
shall date, authenticate (or cause the Authenticating Agent to authenticate) and
deliver, in the name of the designated transferee or transferees, one or more
new Certificates of a like aggregate principal portion or Percentage Interest
and of the same Class.

          At the option of the Certificateholders, Certificates may be exchanged
for other Certificates of authorized Denominations of a like aggregate principal
portion or Percentage Interest and of the same Class 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
shall date, authenticate (or cause the Authenticating Agent to authenticate) and
deliver, the Certificates 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 Certificate Registrar or the Trustee) be
duly endorsed by, or be accompanied by a written instrument of transfer in form
satisfactory to the Certificate Registrar, duly executed by the Holder thereof
or his attorney duly authorized in writing.

          No service charge shall be made for any transfer or exchange of
Certificates, but the Trustee or the Certificate Registrar 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.

          All Certificates surrendered for transfer and exchange shall be
canceled by the Certificate Registrar, the Trustee or the Authenticating Agent
in accordance with their standard procedures.

          (b)  No transfer of a Class B-4, Class B-5 or Class B-6 Certificate
shall be made unless the registration requirements of the Securities Act of
1933, as amended, and any applicable State securities laws are complied with, or
such transfer is exempt from the registration requirements under said Act and
laws. In the event that a transfer is to be made in reliance upon an exemption
from said Act or laws, (i) unless such transfer is made in reliance on Rule
144A, the Trustee or the Seller may, if such transfer is to be made within three
years after the later of (a) the date of the initial sale of Certificates or (b)
the last date on which the Seller or any affiliate thereof was a Holder of the
Certificates proposed to be transferred, require a Class B-4, Class B-5 or Class
B-6 Certificateholder to deliver a written Opinion of Counsel acceptable to and
in form and substance satisfactory to the Trustee and the Seller, to the effect
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 Seller or the Master Servicer, and (ii) the Trustee
shall require the transferee (other than an affiliate of the Seller on the
Closing Date) to execute an investment letter in the form of Exhibit J hereto
certifying to the Seller and the Trustee the facts surrounding such transfer,
which investment letter shall not be an expense

                                       V-3

<PAGE>

of the Trustee, the Seller or the Master Servicer. The Holder of a Class B-4,
Class B-5 or Class B-6 Certificate desiring to effect such transfer shall, and
does hereby agree to, indemnify the Trustee, the Seller, the Master Servicer and
any Paying Agent 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. Neither the Seller nor the Trustee is under an
obligation to register the Class B-4, Class B-5 or Class B-6 Certificates under
said Act or any other securities law.

          (c)  No transfer of a Class B-4, Class B-5 or Class B-6 Certificate
shall be made unless the Trustee and the Seller shall have received (i) a
representation letter from the transferee in the form of Exhibit J hereto, to
the effect that either (a) such transferee is not an employee benefit plan or
other retirement arrangement subject to Title I of ERISA or Code Section 4975,
or a governmental plan, as defined in Section 3(32) of ERISA, subject to any
federal, state or local law ("Similar Law") which is to a material extent
similar to the foregoing provisions of ERISA or the Code (collectively, a
"Plan") and is not a person acting on behalf of or using the assets of any such
Plan, which representation letter shall not be an expense of the Trustee, the
Seller or the Master Servicer or (b) if such transferee is an insurance company,
(A) the source of funds used to purchase the Class B-4, Class B-5 or Class B-6
Certificate is an "insurance company general account" (as such term is defined
in Section V(e) of Prohibited Transaction Class Exemption 95-60 ("PTE 95-60"),
60 Fed. Reg. 35925 (July 12, 1995)), (B) there is no Plan with respect to which
the amount of such general account's reserves and liabilities for the
contract(s) held by or on behalf of such Plan and all other Plans maintained by
the same employer (or affiliate thereof as defined in Section V(a)(1) of PTE
95-60) or by the same employee organization exceeds 10% of the total of all
reserves and liabilities of such general account (as such amounts are determined
under Section I(a) of PTE 95-60) at the date of acquisition and (C) the purchase
and holding of such Class B-4, Class B-5 or Class B-6 Certificate is covered by
Sections I and III of PTE 95-60 or (ii) in the case of any such Class B-4, Class
B-5 or Class B-6 Certificate presented for registration in the name of a Plan,
or a trustee of any such Plan, (A) an Opinion of Counsel satisfactory to the
Trustee and the Seller to the effect that the purchase or holding of such Class
B-4, Class B-5 or Class B-6 Certificate will not constitute or result in a
non-exempt prohibited transaction within the meaning of ERISA, Section 4975 of
the Code or Similar Law and will not subject the Trustee, the Seller or the
Master Servicer to any obligation in addition to those undertaken in this
Agreement, which Opinion of Counsel shall not be an expense of the Trustee, the
Seller or the Master Servicer and (B) such other opinions of counsel, officer's
certificates and agreements as the Seller or the Master Servicer may require in
connection with such transfer, which opinions of counsel, officers' certificates
and agreements shall not be an expense of the Trustee, the Seller or the Master
Servicer. The Class B-4, Class B-5 and Class B-6 Certificates shall bear a
legend referring to the foregoing restrictions contained in this paragraph.

          (d)  No legal or beneficial interest in all or any portion of the
Class A-R Certificate may be transferred directly or indirectly to a
"disqualified organization" within the meaning of Code Section 860E(e)(5) or an
agent of a disqualified organization (including a broker, nominee, or
middleman), to a Plan or a Person acting on behalf of or investing the assets of
a Plan (such Plan or Person, an "ERISA Prohibited Holder") or to an individual,
corporation, partnership or other person unless such transferee (i) is not a
Non-U.S. Person or (ii) is a Non-U.S. Person that holds the Class A-R
Certificate in connection with the conduct of a trade or

                                       V-4

<PAGE>

business within the United States and has furnished the transferor and the
Trustee with an effective Internal Revenue Service Form W-8ECI or (iii) is a
Non-U.S. Person that has delivered to both the transferor and the Trustee an
opinion of a nationally recognized tax counsel to the effect that the transfer
of the Class A-R Certificate to it is in accordance with the requirements of the
Code and the regulations promulgated thereunder and that such transfer of the
Class A-R Certificate will not be disregarded for federal income tax purposes
(any such person who is not covered by clauses (i), (ii) or (iii) above being
referred to herein as a "Non-permitted Foreign Holder"), and any such purported
transfer shall be void and have no effect. The Trustee shall not execute, and
shall not authenticate (or cause the Authenticating Agent to authenticate) and
deliver, a new Class A-R Certificate in connection with any such transfer to a
disqualified organization or agent thereof (including a broker, nominee or
middleman), an ERISA Prohibited Holder or a Non-permitted Foreign Holder, and
neither the Certificate Registrar nor the Trustee shall accept a surrender for
transfer or registration of transfer, or register the transfer of, the Class A-R
Certificate, unless the transferor shall have provided to the Trustee an
affidavit, substantially in the form attached as Exhibit H hereto, signed by the
transferee, to the effect that the transferee is not such a disqualified
organization, an agent (including a broker, nominee, or middleman) for any
entity as to which the transferee has not received a substantially similar
affidavit, an ERISA Prohibited Holder or a Non-permitted Foreign Holder, which
affidavit shall contain the consent of the transferee to any such amendments of
this Agreement as may be required to further effectuate the foregoing
restrictions on transfer of the Class A-R Certificate to disqualified
organizations, ERISA Prohibited Holders or Non-permitted Foreign Holders. Such
affidavit shall also contain the statement of the transferee that (i) the
transferee has historically paid its debts as they have come due and intends to
do so in the future, (ii) the transferee understands that it may incur
liabilities in excess of cash flows generated by the residual interest, (iii)
the transferee intends to pay taxes associated with holding the residual
interest as they become due, (iv) the transferee will not cause income from the
Class A-R Certificate to be attributable to a foreign permanent establishment or
fixed base, within the meaning of an applicable tax treaty, of such transferee
or any other Person and (v) the transferee will not transfer the Class A-R
Certificate to any Person who does not provide an affidavit substantially in the
form attached as Exhibit H hereto.

          The affidavit described in the preceding paragraph, if not executed in
connection with the initial issuance of the Class A-R Certificate, shall be
accompanied by a written statement in the form attached as Exhibit I hereto,
signed by the transferor, to the effect that as of the time of the transfer, the
transferor has no actual knowledge that the transferee is a disqualified
organization, ERISA Prohibited Holder or Non-permitted Foreign Holder, and has
no knowledge or reason to know that the statements made by the transferee with
respect to clauses (i) and (iii) of the last sentence of the preceding paragraph
are not true. The Class A-R Certificate shall bear a legend referring to the
foregoing restrictions contained in this paragraph and the preceding paragraph.

          Upon notice to the Master Servicer that any legal or beneficial
interest in any portion of the Class A-R Certificate has been transferred,
directly or indirectly, to a disqualified organization or agent thereof
(including a broker, nominee, or middleman) in contravention of the foregoing
restrictions, (i) such transferee shall be deemed to hold the Class A-R
Certificate in constructive trust for the last transferor who was not a
disqualified organization or agent thereof, and such transferor shall be
restored as the owner of such Class A-R Certificate as completely as

                                       V-5

<PAGE>

if such transfer had never occurred, provided that the Master Servicer may, but
is not required to, recover any distributions made to such transferee with
respect to the Class A-R Certificate, and (ii) the Master Servicer agrees to
furnish to the Internal Revenue Service and to any transferor of the Class A-R
Certificate or such agent (within 60 days of the request therefor by the
transferor or agent) such information necessary to the application of Code
Section 860E(e) as may be required by the Code, including but not limited to the
present value of the total anticipated excess inclusions with respect to the
Class A-R Certificate (or portion thereof) for periods after such transfer. At
the election of the Master Servicer, the cost to the Master Servicer of
computing and furnishing such information may be charged to the transferor or
such agent referred to above; however, the Master Servicer shall in no event be
excused from furnishing such information.

          Section 5.03  Mutilated, Destroyed, Lost or Stolen Certificates.
                        --------------------------------------------------

          If (i) any mutilated Certificate is surrendered to the Trustee or the
Authenticating Agent, or the Trustee or the Authenticating Agent receives
evidence to its satisfaction of the destruction, loss or theft of any
Certificate, and (ii) there is delivered to the Trustee or the Authenticating
Agent such security or indemnity as may be required by them to hold each of them
harmless, then, in the absence of notice to the Trustee or the Authenticating
Agent that such Certificate has been acquired by a bona fide purchaser, the
Trustee shall execute and authenticate (or cause the Authenticating Agent to
authenticate) and deliver, in exchange for or in lieu of any such mutilated,
destroyed, lost or stolen Certificate, a new Certificate of like tenor and
principal portion or Percentage Interest and of the same Class. Upon the
issuance of any new Certificate under this Section, the Trustee or the
Certificate Registrar 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 expense (including the fees and expenses of the Trustee or the
Authenticating Agent) in connection therewith. Any duplicate Certificate issued
pursuant to this Section shall constitute complete and indefeasible evidence of
ownership in the Trust Estate, 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 the due presentation of a Certificate for registration of
transfer, the Seller, the Master Servicer, the Trustee, the Certificate
Registrar and any agent of the Seller, 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 4.01, and for all other purposes whatsoever,
and neither the Seller, the Master Servicer, the Trustee, the Certificate
Registrar nor any agent of the Seller, the Master Servicer, the Trustee or the
Certificate Registrar shall be affected by notice to the contrary.

          Section 5.05  Access to List of Certificateholders' Names and
                        -----------------------------------------------
                        Addresses.
                        ----------

          (a)  If the Trustee is not acting as Certificate Registrar, the
Certificate Registrar shall furnish or cause to be furnished to the Trustee,
within 15 days after receipt by the Certificate Registrar of a request by the
Trustee in writing, a list, in such form as the Trustee may reasonably require,
of the names and addresses of the Certificateholders of each Class as of the
most recent Record Date.

                                       V-6

<PAGE>

          (b)  If five or more Certificateholders (hereinafter referred to as
"applicants") apply in writing to the Trustee, and such application states that
the applicants desire to communicate with other Certificateholders with respect
to their rights under this Agreement or under the Certificates and is
accompanied by a copy of the communication which such applicants propose to
transmit, then the Trustee shall, within five Business Days following the
receipt of such application, afford such applicants access during normal
business hours to the most recent list of Certificateholders held by the
Trustee. If such a list is as of the date more than 90 days prior to the date of
receipt of such applicants' request and the Trustee is not the Certificate
Registrar, the Trustee shall promptly request from the Certificate Registrar a
current list as provided in paragraph (a) hereof, and shall afford such
applicants access to such list promptly upon receipt.

          (c)  Every Certificateholder, by receiving and holding a Certificate,
agrees with the Seller, the Master Servicer, the Certificate Registrar and the
Trustee that neither the Seller, the Master Servicer, the Certificate Registrar
nor the Trustee shall be held accountable by reason of the disclosure of any
such information as to the names, addresses and Percentage Interests of the
Certificateholders hereunder, regardless of the source from which such
information was delivered.

          Section 5.06  Maintenance of Office or Agency.
                        --------------------------------

          The Trustee will maintain, at its expense, an office or agency where
Certificates may be surrendered for registration of transfer or exchange and
where notices and demands to or upon the Certificate Registrar in respect of the
Certificates and this Agreement may be served. The Trustee initially designates
the Corporate Trust Office and the principal corporate trust office of the
Authenticating Agent, if any, as its offices and agencies for said purposes.

          Section 5.07  Definitive Certificates.
                        ------------------------

          If (A) the Clearing Agency advises the Trustee in writing that the
Clearing Agency is no longer willing or able properly to discharge its
responsibilities as depository with respect to the Book-Entry Certificates, and
(B) the Master Servicer is unable to locate a qualified successor, the Trustee
shall notify the Beneficial Owners, through the Clearing Agency, of the
occurrence of any such event and of the availability of Definitive Certificates
to Beneficial Owners requesting the same. Upon surrender to the Trustee by the
Clearing Agency of the Certificates held of record by its nominee, accompanied
by reregistration instructions and directions to execute and authenticate new
Certificates from the Master Servicer, the Trustee shall execute and
authenticate Definitive Certificates for delivery at its Corporate Trust Office.
The Master Servicer shall arrange for, and will bear all costs of, the printing
and issuance of such Definitive Certificates. Except with the consent of the
Seller, the Trustee shall not execute and authenticate Definitive Certificates
in exchange for Book-Entry Certificates except as set forth above. Neither the
Seller, the Master Servicer nor the Trustee shall be liable for any delay in
delivery of such instructions by the Clearing Agency and may conclusively rely
on, and shall be protected in relying on, such instructions.

                                       V-7

<PAGE>

          Section 5.08  Notices to Clearing Agency.
                        ---------------------------

          Whenever notice or other communication to the Holders of Book-Entry
Certificates is required under this Agreement, unless and until Definitive
Certificates shall have been issued to Beneficial Owners pursuant to Section
5.07, the Trustee shall give all such notices and communications specified
herein to be given to Holders of Book-Entry Certificates to the Clearing Agency.

                                       V-8

<PAGE>

                                   ARTICLE VI

                       THE SELLER AND THE MASTER SERVICER

          Section 6.01  Liability of the Seller and the Master Servicer.
                        ------------------------------------------------

          The Seller and the Master Servicer shall each be liable in accordance
herewith only to the extent of the obligations specifically imposed by this
Agreement and undertaken hereunder by the Seller and the Master Servicer.

          Section 6.02  Merger or Consolidation of the Seller or the Master
                        ---------------------------------------------------
                        Servicer.
                        ---------

          Subject to the following paragraph, (a) the Seller each will keep in
full effect its existence, rights and franchises as a corporation under the laws
of the jurisdiction of its incorporation, and will 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 and (b) the Master
Servicer will keep in full effect its power and authority as a national banking
association under the laws of the jurisdiction of its organization, and will
obtain and preserve its qualification to do business 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.

          The Seller or the Master Servicer may be merged or consolidated with
or into any Person, or transfer all or substantially all of its assets to any
Person, in which case any Person resulting from any merger or consolidation to
which the Seller or Master Servicer shall be a party, or any Person succeeding
to the business of the Seller or Master Servicer, shall be the successor of the
Seller or Master Servicer 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, in the case of
the Master Servicer, any such successor or resulting Person shall be qualified
to service mortgage loans for Fannie Mae or Freddie Mac.

          Section 6.03  Limitation on Liability of the Seller, the Master
                        -------------------------------------------------
                        Servicer and Others.
                        --------------------

          Neither the Seller nor the Master Servicer nor any subcontractor nor
any of the partners, directors, officers, employees or agents of any of them
shall be under any liability to the Trust Estate or the Certificateholders and
all such Persons shall be held harmless 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 any
such Person against any breach of warranties or representations made herein or
against 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 Seller,
the Master Servicer, any subcontractor, and any partner, director, officer,
employee or agent of any of them shall be entitled to indemnification by the
Trust Estate and will be held harmless against any loss, liability or expense
incurred in connection with the performance of its duties and obligations and
any legal action relating to this Agreement or the Certificates, including
without limitation, any legal action against the Trustee in its capacity as
Trustee hereunder, other than any loss, liability or expense (including without
limitation, expenses payable by the Master Servicer under Section 8.06) incurred
by reason of willful misfeasance,

                                      VI-1

<PAGE>

bad faith or gross negligence in the performance of his or its duties hereunder
or by reason of reckless disregard of his or its obligations and duties
hereunder. The Seller, the Master Servicer and any of the directors, officers,
employees or agents of either may rely in good faith on any document of any kind
which, prima facie, is properly executed and submitted by any Person respecting
any matters arising hereunder. Neither the Seller nor the Master Servicer shall
be under any obligation to appear in, prosecute or defend any legal action
unless such action is related to its respective duties under this Agreement and
which in its opinion does not involve it in any expense or liability; provided,
however, that the Seller or the Master Servicer may in its discretion undertake
any such action which it may deem necessary or desirable with respect to this
Agreement and the rights and duties of the parties hereto and the interests of
the Certificateholders hereunder if the Certificateholders offer to the Seller
or the Master Servicer, as the case may be, reasonable security or indemnity
against the costs, expenses and liabilities which may be incurred therein or
thereby. In such event, the legal expenses and costs of such action and any
liability resulting therefrom shall be expenses, costs and liabilities of the
Trust Estate, and the Seller or the Master Servicer shall be entitled to be
reimbursed therefor out of the Certificate Account, and such amounts shall, on
the following Distribution Date or Distribution Dates, be allocated in reduction
of distributions on the Class A Certificates and Class B Certificates in the
same manner as Realized Losses are allocated pursuant to Section 4.02(a).

          Section 6.04  Resignation of the Master Servicer.
                        -----------------------------------

          The Master Servicer shall not resign from the obligations and duties
hereby imposed on it except upon determination that its duties hereunder are no
longer permissible under applicable law or are in material conflict by reason of
applicable law with any other activities carried on by it. Any such
determination permitting the resignation of the Master Servicer shall be
evidenced by an Opinion of Counsel to such effect delivered to the Trustee. No
such resignation shall become effective until the Trustee or a successor
servicer shall have assumed the Master Servicer's responsibilities, duties,
liabilities and obligations hereunder.

          Section 6.05  Compensation to the Master Servicer.
                        ------------------------------------

          The Master Servicer shall be entitled to receive a monthly fee equal
to the Master Servicing Fee, as compensation for services rendered by the Master
Servicer under this Agreement. The Master Servicer also will be entitled to any
late reporting fees paid by a Servicer pursuant to its Servicing Agreement, any
investment income on funds on deposit in the Certificate Account and any
Liquidation Profits to which a Servicer is not entitled under its Servicing
Agreement.

          Section 6.06  Assignment or Delegation of Duties by Master Servicer.
                        ------------------------------------------------------

          The Master Servicer shall not assign or transfer any of its rights,
benefits or privileges under this Agreement to any other Person, or delegate to
or subcontract with, or authorize or appoint any other Person to perform any of
the duties, covenants or obligations to be performed by the Master Servicer
without the prior written consent of the Trustee, and any agreement, instrument
or act purporting to effect any such assignment, transfer, delegation or
appointment shall be void. Notwithstanding the foregoing, the Master Servicer
shall have the right without the prior written consent of the Trustee (i) to
assign its rights and delegate its duties

                                      VI-2

<PAGE>

and obligations hereunder; provided, however, that (a) the purchaser or
transferee accepting such assignment or delegation is qualified to service
mortgage loans for Fannie Mae or Freddie Mac, is satisfactory to the Trustee, in
the exercise of its reasonable judgment, and executes and delivers to the
Trustee an agreement, in form and substance reasonably satisfactory to the
Trustee, which contains an assumption by such purchaser or transferee of the due
and punctual performance and observance of each covenant and condition to be
performed or observed by the Master Servicer hereunder from and after the date
of such agreement; and (b) each applicable Rating Agency's rating of any
Certificates in effect immediately prior to such assignment, sale or transfer is
not reasonably likely to be qualified, downgraded or withdrawn as a result of
such assignment, sale or transfer and the Certificates are not reasonably likely
to be placed on credit review status by any such Rating Agency; and (ii) to
delegate to, subcontract with, authorize, or appoint an affiliate of the Master
Servicer to perform and carry out any duties, covenants or obligations to be
performed and carried out by the Master Servicer under this Agreement and hereby
agrees so to delegate, subcontract, authorize or appoint to an affiliate of the
Master Servicer any duties, covenants or obligations to be performed and carried
out by the Master Servicer to the extent that such duties, covenants or
obligations are to be performed in any state or states in which the Master
Servicer is not authorized to do business as a foreign corporation but in which
the affiliate is so authorized. In no case, however, shall any permitted
assignment and delegation relieve the Master Servicer of any liability to the
Trustee or the Seller under this Agreement, incurred by it prior to the time
that the conditions contained in clause (i) above are met.

          Section 6.07  Indemnification of Trustee and Seller by Master
                        -----------------------------------------------
                        Servicer.
                        ---------

          The Master Servicer shall indemnify and hold harmless the Trustee and
the Seller and any director, officer or agent thereof against any loss,
liability or expense, including reasonable attorney's fees, arising out of, in
connection with or incurred by reason of willful misfeasance, bad faith or
negligence in the performance of duties of the Master Servicer under this
Agreement or by reason of reckless disregard of its obligations and duties under
this Agreement. Any payment pursuant to this Section made by the Master Servicer
to the Trustee or the Seller shall be from such entity's own funds, without
reimbursement therefor. The provisions of this Section 6.07 shall survive the
termination of this Agreement.

                                      VI-3

<PAGE>

                                   ARTICLE VII

                                     DEFAULT

          Section 7.01  Events of Default.
                        ------------------

          In case one or more of the following Events of Default by the Master
Servicer shall occur and be continuing, that is to say:

          (i)   any failure by the Master Servicer (a) to remit any funds to the
     Paying Agent as required by Section 4.03 or (b) to distribute or cause to
     be distributed to Certificateholders any payment required to be made by the
     Master Servicer under the terms of this Agreement which, in either case,
     continues unremedied for a period of three business days after the date
     upon which written notice of such failure, requiring the same to be
     remedied, shall have been given to the Master Servicer by the Trustee or to
     the Master Servicer and the Trustee by the holders of Certificates
     evidencing in the aggregate not less than 25% of the aggregate Voting
     Interest represented by all Certificates;

          (ii)  any failure on the part of the Master Servicer duly to observe
     or perform in any material respect any other of the covenants or agreements
     on the part of the Master Servicer in the Certificates or in this Agreement
     which continues unremedied for a period of 60 days 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 to the Master
     Servicer and the Trustee by the holders of Certificates evidencing in the
     aggregate not less than 25% of the aggregate Voting Interest represented by
     all Certificates;

          (iii) a decree or order of a court or agency or supervisory authority
     having jurisdiction in the premises for the appointment of a trustee,
     conservator, receiver or liquidator in any bankruptcy, insolvency,
     readjustment of debt, marshaling 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 and unstayed for a period of 60
     days;

          (iv)  the Master Servicer shall consent to the appointment of a
     trustee, conservator, receiver or liquidator or liquidating committee in
     any bankruptcy, insolvency, readjustment of debt, marshaling of assets and
     liabilities, voluntary liquidation or similar proceedings of or relating to
     the Master Servicer, or of or relating to all or substantially all of its
     property;

          (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 any applicable insolvency, bankruptcy or reorganization statute, make an
     assignment for the benefit of its creditors or voluntarily suspend payment
     of its obligations;

          (vi)  the Master Servicer shall be dissolved, or shall dispose of all
     or substantially all of its assets; or consolidate with or merge into
     another entity or shall

                                      VII-1

<PAGE>

     permit another entity to consolidate or merge into it, such that the
     resulting entity does not meet the criteria for a successor servicer, as
     specified in Section 6.02 hereof; or

          (vii) the Master Servicer becomes ineligible to service for both
     Fannie Mae and Freddie Mac, which ineligibility continues unremedied for a
     period of 90 days.

then, and in each and every such case, subject to applicable law, so long as an
Event of Default shall not have been remedied, either the Trustee or the holders
of Certificates evidencing in the aggregate not less than 66 2/3% of the
aggregate Voting Interest represented by all Certificates, by notice in writing
to the Master Servicer (and to the Trustee if given by the Certificateholders)
may terminate all of the rights and obligations of the Master Servicer under
this Agreement and in and to the Mortgage Loans, but without prejudice to any
rights which the Master Servicer may have to the aggregate Master Servicing Fees
due prior to the date of transfer of the Master Servicer's responsibilities
hereunder, reimbursement of expenses to the extent permitted by this Agreement,
Periodic Advances and other advances of its own funds. Upon 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 or the
Mortgage Loans or otherwise, shall pass to and be vested in the Trustee pursuant
to and under this Section, subject to the provisions of Section 7.05; 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 and shall promptly provide the
Trustee all documents and records reasonably requested by it to enable it to
assume the Master Servicer's functions hereunder and shall promptly also
transfer to the Trustee all amounts which then have been or should have been
deposited in the Certificate Account by the Master Servicer or which are
thereafter received by the Master Servicer with respect to the Mortgage Loans.

          Section 7.02  Other Remedies of Trustee.
                        --------------------------

          During the continuance of any Event of Default, so long as such Event
of Default shall not have been remedied, the Trustee, in addition to the rights
specified in Section 7.01, shall have the right, in its own name as trustee of
an express trust, to take all actions now or hereafter existing at law, in
equity or by statute to enforce its rights and remedies and to protect the
interests, and enforce the rights and remedies, of the Certificateholders
(including the institution and prosecution of all judicial, administrative and
other proceedings and the filing of proofs of claim and debt in connection
therewith). Except as otherwise expressly provided in this Agreement, no remedy
provided for by this Agreement shall be exclusive of any other remedy, and each
and every remedy shall be cumulative and in addition to any other remedy and no
delay or omission to exercise any right or remedy shall impair any such right or
remedy or shall be deemed to be a waiver of any Event of Default.

                                      VII-2

<PAGE>

          Section 7.03  Directions by Certificateholders and Duties of Trustee
                        ------------------------------------------------------
                        During Event of Default.
                        ------------------------

          During the continuance of any Event of Default, Holders of
Certificates evidencing in the aggregate not less than 25% of the aggregate
Voting Interest represented by all Certificates may direct 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;
provided, however, that the Trustee shall be under no obligation to pursue any
such remedy, or to exercise any of the rights or powers vested in it by this
agreement (including, without limitation, (i) the conducting or defending of any
administrative action or litigation hereunder or in relation hereto and (ii) the
terminating of the Master Servicer from its rights and duties as servicer
hereunder) at the request, order or direction of any of the Certificateholders,
unless such Certificateholders shall have offered to the Trustee reasonable
security or indemnity against the cost, expenses and liabilities which may be
incurred therein or thereby and, provided further, that, subject to the
provisions of Section 8.01, the Trustee shall have the right to decline to
follow any such direction if the Trustee, in accordance with an Opinion of
Counsel, determines that the action or proceeding so directed may not lawfully
be taken or if the Trustee in good faith determines that the action or
proceeding so directed would involve it in personal liability or be unjustly
prejudicial to the nonassenting Certificateholders.

          Section 7.04  Action upon Certain Failures of the Master Servicer and
                        -------------------------------------------------------
                        upon Event of Default.
                        ----------------------

          In the event that the Trustee shall have knowledge of any failure of
the Master Servicer specified in Section 7.01(i) or (ii) which would become an
Event of Default upon the Master Servicer's failure to remedy the same after
notice, the Trustee may, but need not if the Trustee deems it not in the
Certificateholders' best interest, give notice thereof to the Master Servicer.
For all purposes of this Agreement, in the absence of actual knowledge by a
corporate trust officer of the Trustee, the Trustee shall not be deemed to have
knowledge of any failure of the Master Servicer as specified in Section 7.01(i)
and (ii) or any Event of Default unless notified thereof in writing by the
Master Servicer or by a Certificateholder.

          Section 7.05  Trustee to Act; Appointment of Successor.
                        -----------------------------------------

          When the Master Servicer receives notice of termination pursuant to
Section 7.01 or the Trustee receives the resignation of the Master Servicer
evidenced by an Opinion of Counsel pursuant to Section 6.04, the Trustee shall
be the successor in all respects to the Master Servicer in its capacity as
master servicer under this Agreement and the transactions set forth or provided
for herein and shall have the rights and powers and be subject to all the
responsibilities, duties and liabilities relating thereto placed on the Master
Servicer by the terms and provisions hereof and in its capacity as such
successor shall have the same limitation of liability herein granted to the
Master Servicer. In the event that the Trustee is succeeding to the Master
Servicer as the Master Servicer, as compensation therefor, the Trustee shall be
entitled to receive monthly such portion of the Master Servicing Fee, together
with such other servicing compensation as is agreed to at such time by the
Trustee and the Master Servicer, but in no event more than 25% thereof until the
date of final cessation of the Master Servicer's servicing activities hereunder.
Notwithstanding the above, the Trustee may, if it shall be unwilling to so act,
or shall, if it is

                                      VII-3

<PAGE>

unable to so act or to obtain a qualifying bid as described below, appoint, or
petition a court of competent jurisdiction to appoint, any housing and home
finance institution, bank or mortgage servicing institution having a net worth
of not less than $10,000,000 and meeting such other standards for a successor
servicer as are set forth herein, 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; provided, however, that until
such a successor master servicer is appointed and has assumed the
responsibilities, duties and liabilities of the Master Servicer hereunder, the
Trustee shall continue as the successor to the Master Servicer as provided
above. The compensation of any successor master servicer so appointed shall not
exceed the compensation specified in Section 6.05 hereof. In the event the
Trustee is required to solicit bids as provided above, the Trustee shall
solicit, by public announcement, bids from housing and home finance
institutions, banks and mortgage servicing institutions meeting the
qualifications set forth in the preceding sentence for the purchase of the
master servicing functions. Such public announcement shall specify that the
successor master servicer shall be entitled to the full amount of the Master
Servicing Fee as compensation together with the other servicing compensation in
the form of late reporting fees or otherwise as provided in Section 6.05. Within
30 days after any such public announcement, the Trustee shall negotiate and
effect the sale, transfer and assignment of the master servicing rights and
responsibilities hereunder to the qualified party submitting the highest
qualifying bid. The Trustee shall deduct all costs and expenses of any public
announcement and of any sale, transfer and assignment of the servicing rights
and responsibilities hereunder from any sum received by the Trustee from the
successor to the Master Servicer in respect of such sale, transfer and
assignment. After such deductions, the remainder of such sum shall be paid by
the Trustee to the Master Servicer at the time of such sale, transfer and
assignment to the Master Servicer's successor. The Trustee and such successor
shall take such action, consistent with this Agreement, as shall be necessary to
effectuate any such succession. The Master Servicer agrees to cooperate with the
Trustee and any successor servicer in effecting the termination of the Master
Servicer's servicing responsibilities and rights hereunder and shall promptly
provide the Trustee or such successor master servicer, as applicable, all
documents and records reasonably requested by it to enable it to assume the
Master Servicer's function hereunder and shall promptly also transfer to the
Trustee or such successor master servicer, as applicable, all amounts which then
have been or should have been deposited in the Certificate Account by the Master
Servicer or which are thereafter received by the Master Servicer with respect to
the Mortgage Loans. Neither the Trustee nor any other successor master servicer
shall be deemed to be in default hereunder by reason of any failure to make, or
any delay in making, any distribution hereunder or any portion thereof caused by
(i) the failure of the Master Servicer to deliver, or any delay in delivering,
cash, documents or records to it, or (ii) restrictions imposed by any regulatory
authority having jurisdiction over the Master Servicer. Notwithstanding anything
to the contrary contained in Section 7.01 above or this Section 7.05, the Master
Servicer shall retain all of its rights and responsibilities hereunder, and no
successor (including the Trustee) shall succeed thereto, if the assumption
thereof by such successor would cause the rating assigned to any Certificates to
be revoked, downgraded or placed on credit review status (other than for
possible upgrading) by either Rating Agency and the retention thereof by the
Master Servicer would avert such revocation, downgrading or review.

                                      VII-4

<PAGE>

          Section 7.06  Notification to Certificateholders.
                        -----------------------------------

          Upon any termination of the Master Servicer or appointment of a
successor master servicer, in each case as provided herein, the Trustee shall
give prompt written notice thereof to Certificateholders at their respective
addresses appearing in the Certificate Register. The Trustee shall also, within
45 days after the occurrence of any Event of Default known to the Trustee, give
written notice thereof to Certificateholders at their respective addresses
appearing in the Certificate Register, unless such Event of Default shall have
been cured or waived within said 45 day period.

                                      VII-5

<PAGE>

                                  ARTICLE VIII

                             CONCERNING THE TRUSTEE

          Section 8.01  Duties of Trustee.
                        ------------------

          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),
the Trustee, subject to the provisions of Sections 7.01, 7.03, 7.04 and 7.05,
shall exercise such of the rights and powers vested in it by this Agreement, and
use the same degree of care and skill in its exercise as a prudent investor
would exercise or use under the circumstances in the conduct of such investor's
own affairs.

          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 are in
the form required by this Agreement; provided, however, that the Trustee shall
not be responsible for the accuracy or content of any certificate, statement,
instrument, report, notice or other document furnished by the Master Servicer or
the Servicers pursuant to Articles III, IV and IX.

          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 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, and conforming
     to the requirements of this Agreement;

          (ii)  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 holders of Certificates which evidence in
     the aggregate not less than 25% of the Voting Interest represented by all
     Certificates relating 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; and

          (iii) The Trustee shall not be liable for any error of judgment made
     in good faith by any of its Responsible Officers, unless it shall be proved
     that the Trustee or such Responsible Officer, as the case may be, was
     negligent in ascertaining the pertinent facts.

                                     VIII-1

<PAGE>

          None of the provisions contained in this Agreement shall require the
Trustee to expend or risk its own funds or otherwise incur personal financial
liability in the performance of any of its duties hereunder or in the exercise
of any of its rights or powers if there is reasonable ground for believing that
repayment of such funds or adequate indemnity against such risk or liability is
not reasonably assured to it.

          Section 8.02  Certain Matters Affecting the Trustee.
                        --------------------------------------

          Except as otherwise provided in Section 8.01:

          (i)   The Trustee may request and 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 and the manner of
     obtaining consents and evidencing the authorization of the execution
     thereof shall be subject to such reasonable regulations as the Trustee may
     prescribe;

          (ii)  The Trustee may consult with counsel, and any written advice of
     such counsel or 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 advice or
     Opinion of Counsel;

          (iii) 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;

          (iv)  Subject to Section 7.04, the Trustee shall not be accountable,
     shall have no liability and makes no representation as to any acts or
     omissions hereunder of the Master Servicer until such time as the Trustee
     may be required to act as Master Servicer pursuant to Section 7.05 and
     thereupon only for the acts or omissions of the Trustee as successor Master
     Servicer; and

          (v)   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.

          Section 8.03  Trustee Not Required to Make Investigation.
                        -------------------------------------------

          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, appraisal, bond, Mortgage, Mortgage Note or other paper
or document (provided the same appears regular on its face), unless requested in
writing to do so by holders of Certificates evidencing in the aggregate not less
than 51% of the Voting Interest represented by all Certificates; 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

                                     VIII-2

<PAGE>

reasonable indemnity against such expense or liability as a condition to so
proceeding. The reasonable expense of every such investigation shall be paid by
the Master Servicer or, if paid by the Trustee shall be repaid by the Master
Servicer upon demand.

          Section 8.04  Trustee Not Liable for Certificates or Mortgage Loans.
                        ------------------------------------------------------

          The recitals contained herein and in the Certificates (other than the
certificate of authentication on the Certificates) shall be taken as the
statements of the Seller, and the Trustee assumes no responsibility as to the
correctness of the same. The Trustee makes no representation for the correctness
of the same. The Trustee makes no representation as to the validity or
sufficiency of this Agreement or of the Certificates or of any Mortgage Loan or
related document. Subject to Section 2.04, the Trustee shall not be accountable
for the use or application by the Seller of any of the Certificates or of the
proceeds of such Certificates, or for the use or application of any funds paid
to the Master Servicer in respect of the Mortgage Loans deposited into the
Certificate Account by the Master Servicer or, in its capacity as trustee, for
investment of any such amounts.

          Section 8.05  Trustee May Own Certificates.
                        -----------------------------

          The Trustee, and any agent thereof, 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 or such agent and may transact banking
and/or trust business with the Seller, the Master Servicer or their Affiliates.

          Section 8.06  The Master Servicer to Pay Fees and Expenses.
                        ---------------------------------------------

          The Master Servicer covenants and agrees to pay to the Trustee from
time to time, from its own funds, and the Trustee shall be entitled to receive,
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 it 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,
except as otherwise agreed by the Master Servicer and the Trustee, the Master
Servicer will pay or reimburse the Trustee upon its request for all reasonable
expenses, disbursements and advances incurred or made by it 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. The Trustee shall have no right of
reimbursement from the Trust Estate for any such expenses, disbursements and
advances not paid or reimbursed to it by the Master Servicer.

          Section 8.07  Eligibility Requirements.
                        -------------------------

          The Trustee hereunder shall at all times (i) be a corporation or
association having its principal office in a state and city acceptable to the
Seller, 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, or shall
be a member of a bank holding system, the aggregate combined capital and surplus
of which is at least $50,000,000, provided that its separate capital and surplus
shall at all times be at least the

                                     VIII-3

<PAGE>

amount specified in Section 310(a)(2) of the Trust Indenture Act of 1939, (ii)
be subject to supervision or examination by federal or state authority and (iii)
have a credit rating or be otherwise acceptable to the Rating Agencies such that
neither of the Rating Agencies would reduce their respective then current
ratings of the Certificates (or have provided such security from time to time as
is sufficient to avoid such reduction) as evidenced in writing by each Rating
Agency. If such corporation or 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 or association 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 8.08.

          Section 8.08  Resignation and Removal.
                        ------------------------

          The Trustee may at any time resign and be discharged from the trust
hereby created by giving written notice of resignation to the Master Servicer,
such resignation to be effective upon the appointment of a successor trustee.
Upon receiving such notice of resignation, the Master Servicer shall promptly
appoint a successor trustee by written instrument, in duplicate, one copy of
which instrument shall be delivered to the resigning entity and one copy to its
successor. If no successor trustee shall have been 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.

          If at any time the Trustee shall cease to be eligible in accordance
with the provisions of Section 8.07 and shall fail to resign after written
request for its resignation by the Master Servicer, or if at any time the
Trustee shall become incapable of acting, or an order for relief shall have been
entered in any bankruptcy or insolvency proceeding with respect to such entity,
or a receiver of such entity or of its property shall be appointed, or any
public officer shall take charge or control of the Trustee or of the property or
affairs of the Trustee for the purpose of rehabilitation, conversion or
liquidation, or the Master Servicer shall deem it necessary in order to change
the situs of the Trust Estate for state tax reasons, then the Master Servicer
shall 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.

          The Holders of Certificates evidencing in the aggregate not less than
51% of the Voting Interests represented by all Certificates (except that any
Certificate registered in the name of the Seller, the Master Servicer or any
affiliate thereof will not be taken into account in determining whether the
requisite Voting Interests has been obtained) may at any time remove the Trustee
and appoint a successor 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 Master Servicer, one complete
set of which shall be delivered to the entity or entities so removed and one
complete set of which shall be delivered to the successor so appointed.

                                     VIII-4

<PAGE>

          Any resignation or removal of the Trustee and appointment of a
successor pursuant to any of the provisions of this Section shall become
effective upon acceptance of appointment by the successor as provided in Section
8.09.

          Section 8.09  Successor.
                        ----------

          Any successor trustee appointed as provided in Section 8.08 shall
execute, acknowledge and deliver to the Master Servicer 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, without any further act, deed or reconveyance, shall become
fully vested with all the rights, powers, duties and obligations of its
predecessor hereunder, with like effect as if originally named as trustee
herein. The predecessor trustee shall deliver to its successor all documents and
statements held by it hereunder, and the Seller, the Master Servicer and the
predecessor entity 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. No successor shall accept appointment as provided in this Section
unless at the time of such acceptance such successor shall be eligible under the
provisions of Section 8.07.

          Upon acceptance of appointment by a successor as provided in this
Section, the Master Servicer 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 Master Servicer fails to mail such notice within
ten days after acceptance of the successor trustee, the successor trustee shall
cause such notice to be mailed at the expense of the Master Servicer.

          Section 8.10  Merger or Consolidation.
                        ------------------------

          Any Person into which the Trustee may be merged or converted or with
which it may be consolidated, to which it may sell or transfer its corporate
trust business and assets as a whole or substantially as a whole or any Person
resulting from any merger, sale, transfer, conversion or consolidation to which
the Trustee shall be a party, or any Person succeeding to the business of such
entity, shall be the successor of the Trustee hereunder; provided, however, that
(i) such Person shall be eligible under the provisions of Section 8.07, 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, and (ii)
the Trustee shall deliver an Opinion of Counsel to the Seller and the Master
Servicer to the effect that such merger, consolidation, sale or transfer will
not subject the REMIC to federal, state or local tax or cause the REMIC to fail
to qualify as a REMIC, which Opinion of Counsel shall be at the sole expense of
the Trustee.

          Section 8.11  Authenticating Agent.
                        ---------------------

          The Trustee may appoint an Authenticating Agent, which shall be
authorized to act on behalf of the Trustee in authenticating Certificates.
Wherever reference is made in this Agreement to the authentication of
Certificates by the Trustee or the Trustee's countersignature, such reference
shall be deemed to include authentication on behalf of the Trustee by the
Authenticating Agent and a certificate of authentication executed on behalf of
the Trustee by the Authenticating Agent. The Authenticating Agent must be
acceptable to the Seller and the Master

                                     VIII-5

<PAGE>

Servicer and must be a corporation organized and doing business under the laws
of the United States of America or of any state, having a principal office and
place of business in a state and city acceptable to the Seller and the Master
Servicer, having a combined capital and surplus of at least $15,000,000,
authorized under such laws to do a trust business and subject to supervision or
examination by federal or state authorities.

          Any corporation into which the Authenticating Agent may be merged or
converted or with which it may be consolidated, or any corporation resulting
from any merger, conversion or consolidation to which the Authenticating Agent
shall be a party, or any corporation succeeding to the corporate agency business
of the Authenticating Agent, shall be the Authenticating Agent without the
execution or filing of any paper or any further act on the part of the Trustee
or the Authenticating Agent.

          The Authenticating Agent may at any time resign by giving at least 30
days' advance written notice of resignation to the Trustee, the Seller and the
Master Servicer. The Trustee may at any time terminate the agency of the
Authenticating Agent by giving written notice thereof to the Authenticating
Agent, the Seller and the Master Servicer. Upon receiving a notice of
resignation or upon such a termination, or in case at any time the
Authenticating Agent shall cease to be eligible in accordance with the
provisions of this Section 8.11, the Trustee promptly shall appoint a successor
Authenticating Agent, which shall be acceptable to the Master Servicer, and
shall give written notice of such appointment to the Seller, and shall mail
notice of such appointment to all Certificateholders. Any successor
Authenticating Agent upon acceptance of its appointment hereunder shall become
vested with all the rights, powers, duties and responsibilities of its
predecessor hereunder, with like effect as if originally named as Authenticating
Agent herein. No successor Authenticating Agent shall be appointed unless
eligible under the provisions of this Section 8.11.

          The Authenticating Agent shall have no responsibility or liability for
any action taken by it as such at the direction of the Trustee. Any reasonable
compensation paid to the Authenticating Agent shall be a reimbursable expense
under Section 8.06.

          Section 8.12  Separate Trustees and Co-Trustees.
                        ----------------------------------

          The Trustee shall have the power from time to time to appoint one or
more persons or corporations to act either as co-trustees jointly with the
Trustee, or as separate trustees, for the purpose of holding title to,
foreclosing or otherwise taking action with respect to any Mortgage Loan outside
the state where the Trustee has its principal place of business, where such
separate trustee or co-trustee is necessary or advisable (or the Trustee is
advised by the Master Servicer that such separate trustee or co-trustee is
necessary or advisable) under the laws of any state in which a Mortgaged
Property is located or for the purpose of otherwise conforming to any legal
requirement, restriction or condition in any state in which a Mortgaged Property
is located or in any state in which any portion of the Trust Estate is located.
The Master Servicer shall advise the Trustee when, in its good faith opinion, a
separate trustee or co-trustee is necessary or advisable as aforesaid. The
separate trustees or co-trustees so appointed shall be trustees for the benefit
of all of the Certificateholders and shall have such powers, rights and remedies
as shall be specified in the instrument of appointment; provided, however, that
no such appointment shall, or shall be deemed to, constitute the appointee an
agent of the Trustee. The

                                     VIII-6

<PAGE>

Seller and the Master Servicer shall join in any such appointment, but such
joining shall not be necessary for the effectiveness of such appointment.

          Every separate trustee and co-trustee shall, to the extent permitted
by law, be appointed and act subject to the following provisions and conditions:

          (i)   all powers, duties, obligations and rights conferred upon the
     Trustee, in respect of the receipt, custody and payment of moneys shall be
     exercised solely by the Trustee;

          (ii)  all other 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 Estate or any portion thereof in any such jurisdiction)
     shall be exercised and performed by such separate trustee or co-trustee;

          (iii) no separate trustee or co-trustee hereunder shall be personally
     liable by reason of any act or omission of any other separate trustee or
     co-trustee hereunder; and

          (iv)  the Trustee may at any time accept the resignation of or remove
     any separate trustee or co-trustee so appointed by it, if such resignation
     or removal does not violate the other terms of this Agreement.

          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, co-trustee, or custodian shall refer to this Agreement and the
conditions of this Article. 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 furnished to the Trustee.

          Any separate trustee, co-trustee, or custodian 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.

          No separate trustee or co-trustee hereunder shall be required to meet
the terms of eligibility as a successor trustee under Section 8.07 hereunder and
no notice to Certificateholders of the appointment thereof shall be required
under Section 8.09 hereof.

                                     VIII-7

<PAGE>

          The Trustee agrees to instruct its co-trustees, if any, to the extent
necessary to fulfill such entity's obligations hereunder.

          The Master Servicer shall pay the reasonable compensation of the
co-trustees to the extent, and in accordance with the standards, specified in
Section 8.06 hereof.

          Section 8.13  Tax Matters; Compliance with REMIC Provisions.
                        ----------------------------------------------

          (a)  Each of the Trustee and the Master Servicer covenants and agrees
that it shall perform its duties hereunder in a manner consistent with the REMIC
Provisions and shall not knowingly take any action or fail to take any other
action that would (i) affect the determination of the Trust Estate's status as a
REMIC; or (ii) cause the imposition of any federal, state or local income,
prohibited transaction, contribution or other tax on either the REMIC or the
Trust Estate. The Master Servicer, or, in the case of any tax return or other
action required by law to be performed directly by the Trustee, the Trustee,
shall (i) prepare or cause to be prepared, timely cause to be signed by the
Trustee and file or cause to be filed annual federal and applicable state and
local income tax returns using a calendar year as the taxable year for the REMIC
and the accrual method of accounting; (ii) in the first such federal tax return,
make, or cause to be made, elections satisfying the requirements of the REMIC
Provisions, on behalf of the Trust Estate, to treat the Trust Estate as a REMIC;
(iii) prepare, execute and forward, or cause to be prepared, executed and
forwarded, to the Certificateholders all information reports or tax returns
required with respect to the REMIC, as and when required to be provided to the
Certificateholders, and to the Internal Revenue Service and any other relevant
governmental taxing authority in accordance with the REMIC Provisions and any
other applicable federal, state or local laws, including without limitation
information reports relating to "original issue discount" and "market discount"
as defined in the Code based upon the issue prices, prepayment assumption and
cash flows provided by the Seller to the Trustee and calculated on a monthly
basis by using the issue prices of the Certificates; (iv) make available
information necessary for the application of any tax imposed on transferors of
residual interests to "disqualified organizations" (as defined in the REMIC
Provisions); (v) file Form 8811 and apply for an Employee Identification Number
with a Form SS-4 or any other permissible method and respond to inquiries by
Certificateholders or their nominees concerning information returns, reports or
tax returns; (vi) maintain (or cause to be maintained by the Servicers) such
records relating to the REMIC, including but not limited to the income,
expenses, individual Mortgage Loans (including REO Mortgage Loans), other assets
and liabilities of the REMIC, and the fair market value and adjusted basis of
the property of the REMIC determined at such intervals as may be required by the
Code, as may be necessary to prepare the foregoing returns or information
reports; (vii) exercise reasonable care not to allow the creation of any
"interests" in the REMIC within the meaning of Code Section 860D(a)(2) other
than the interests represented by 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 A-R, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class
B-6 Certificates; (viii) exercise reasonable care not to allow the occurrence of
any "prohibited transactions" within the meaning of Code Section 860F(a), unless
the Master Servicer shall have provided an Opinion of Counsel to the Trustee
that such occurrence would not (a) result in a taxable gain, (b) otherwise
subject either the Trust Estate or the REMIC to tax or (c) cause the Trust
Estate to fail to qualify as a REMIC; (ix) exercise reasonable care not to allow
the REMIC to receive income from the performance of services or from assets not

                                     VIII-8

<PAGE>

permitted under the REMIC Provisions to be held by a REMIC; (x) pay (on behalf
of the REMIC) the amount of any federal income tax, including, without
limitation, prohibited transaction taxes, taxes on net income from foreclosure
property, and taxes on certain contributions to a REMIC after the Startup Day,
imposed on the REMIC, when and as the same shall be due and payable (but such
obligation shall not prevent the Master Servicer or any other appropriate Person
from contesting any such tax in appropriate proceedings and shall not prevent
the Master Servicer from withholding or depositing payment of such tax, if
permitted by law, pending the outcome of such proceedings); and (xi) if required
or permitted by the Code and applicable law, act as "tax matters person" for the
REMIC within the meaning of Treasury Regulations Section 1.860F-4(d), and the
Master Servicer is hereby designated as agent of the Class A-R Certificateholder
for such purpose (or if the Master Servicer is not so permitted, the Holder of
the Class A-R Certificate shall be the tax matters person in accordance with the
REMIC Provisions). The Master Servicer shall be entitled to be reimbursed
pursuant to Section 3.02 for any taxes paid by it pursuant to clause (x) of the
preceding sentence, except to the extent that such taxes are imposed as a result
of the bad faith, willful misfeasance or gross negligence of the Master Servicer
in the performance of its obligations hereunder. The Trustee shall sign the tax
returns referred to in clause (i) of the second preceding sentence.

          In order to enable the Master Servicer or the Trustee, as the case may
be, to perform its duties as set forth above, the Seller shall provide, or cause
to be provided, to the Master Servicer within ten days after the Closing Date
all information or data that the Master Servicer determines to be relevant for
tax purposes to the valuations and offering prices of the Certificates,
including, without limitation, the price, yield, prepayment assumption and
projected cash flows of each Class of Certificates and the Mortgage Loans in the
aggregate. Thereafter, the Seller shall provide to the Master Servicer or the
Trustee, as the case may be, promptly upon request therefor, any such additional
information or data that the Master Servicer or the Trustee, as the case may be,
may from time to time request in order to enable the Master Servicer to perform
its duties as set forth above. The Seller hereby indemnifies the Master Servicer
or the Trustee, as the case may be, for any losses, liabilities, damages, claims
or expenses of the Master Servicer or the Trustee arising from any errors or
miscalculations by the Master Servicer or the Trustee pursuant to this Section
that result from any failure of the Seller to provide, or to cause to be
provided, accurate information or data to the Master Servicer or the Trustee, as
the case may be, on a timely basis. The Master Servicer hereby indemnifies the
Seller and the Trustee for any losses, liabilities, damages, claims or expenses
of the Seller or the Trustee arising from the Master Servicer's willful
misfeasance, bad faith or gross negligence in preparing any of the federal,
state and local tax returns of the REMIC as described above. In the event that
the Trustee prepares any of the federal, state and local tax returns of the
REMIC as described above, the Trustee hereby indemnifies the Seller and the
Master Servicer for any losses, liabilities, damages, claims or expenses of the
Seller or the Master Servicer arising from the Trustee's willful misfeasance,
bad faith or negligence in connection with such preparation.

          (b)  Notwithstanding anything in this Agreement to the contrary, each
of the Master Servicer and the Trustee shall pay from its own funds, without any
right of reimbursement therefor, the amount of any costs, liabilities and
expenses incurred by the Trust Estate (including, without limitation, any and
all federal, state or local taxes, including taxes imposed on "prohibited
transactions" within the meaning of the REMIC Provisions) if and to the

                                     VIII-9

<PAGE>

extent that such costs, liabilities and expenses arise from a failure of the
Master Servicer or the Trustee, respectively, to perform its obligations under
this Section 8.13.

          Section 8.14  Monthly Advances.
                        -----------------

          In the event that Wells Fargo Bank in its capacity as Servicer fails
to make a Periodic Advance required to be made pursuant to the Wells Fargo Bank
Servicing Agreement on or before the Distribution Date, the Trustee shall make a
Periodic Advance as required by Section 3.03 hereof; provided, however, the
Trustee shall not be required to make such Periodic Advances if prohibited by
law or if it determines that such Periodic Advance would be a Nonrecoverable
Advance. With respect to those Periodic Advances which should have been made by
Wells Fargo Bank, the Trustee shall be entitled, pursuant to Section 3.02(a)(i),
(ii) or (v) hereof, to be reimbursed from the Certificate Account for Periodic
Advances and Nonrecoverable Advances made by it.

                                     VIII-10

<PAGE>

                                   ARTICLE IX

                                   TERMINATION

          Section 9.01  Termination upon Purchase by the Seller or Liquidation
                        ------------------------------------------------------
                        of All Mortgage Loans.
                        ----------------------

          Subject to Section 9.02, the respective obligations and
responsibilities of the Seller, the Master Servicer and the Trustee created
hereby (other than the obligation of the Trustee to make certain payments after
the Final Distribution Date to Certificateholders and the obligation of the
Master Servicer to send certain notices as hereinafter set forth and the tax
reporting obligations under Sections 4.05 and 8.13 hereof) 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 purchase by
the Seller of all Mortgage Loans and all property acquired in respect of any
Mortgage Loan remaining in the Trust Estate at a price equal to the sum of (x)
100% of the unpaid principal balance of each Mortgage Loan (other than any REO
Mortgage Loan) as of the Final Distribution Date, (y) the fair market value of
the Mortgaged Property related to any REO Mortgage Loan, plus any accrued and
unpaid interest through the last day of the month preceding the month of such
purchase at the applicable Mortgage Interest Rate and (z) any Reimbursement
Amount owed to the Trust pursuant to Section 2.03 and (ii) the final payment or
other liquidation (or any advance with respect thereto) of the last Mortgage
Loan remaining in the Trust Estate (including for this purpose the discharge of
any Mortgagor under a defaulted Mortgage Loan on which a Servicer is not
obligated to foreclose due to environmental impairment) or the disposition of
all property acquired upon foreclosure or deed in lieu of foreclosure of any
Mortgage Loan; 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.

          The right of the Seller to purchase all the assets of the Trust Estate
pursuant to clause (i) of the preceding paragraph are subject to Section 9.02
and conditioned upon (A) the Pool Scheduled Principal Balance of the Mortgage
Loans as of the Final Distribution Date being less than the amount set forth in
Section 11.20 and (B) the sum of clause (i)(x) and (y) of the preceding
paragraph being less than or equal to the aggregate fair market value of the
Mortgage Loans (other than any REO Mortgage Loans) and the Mortgaged Properties
related to the REO Mortgage Loans; provided, however, that this clause (B) shall
not apply to any purchase by the Seller if, at the time of the purchase, the
Seller is no longer subject to regulation by the Office of the Comptroller of
the Currency, the FDIC, the Federal Reserve or the Office of Thrift Supervision.
Fair market value for purposes of this paragraph and the preceding paragraph
will be determined by the Master Servicer as of the close of business on the
third Business Day next preceding the date upon which notice of any termination
is furnished to Certificateholders pursuant to the third paragraph of this
Section 9.01. In the case of any purchase by the Seller pursuant to said clause
(i) of the preceding paragraph, the Seller shall give the Trustee and Master
Servicer notice of its intent to purchase the assets of the Trust by the fifth
day of the month of the Final Distribution Date or such later date as shall be
acceptable to the Trustee and Master Servicer. The Seller or Master Servicer
shall in such case provide to the Trustee the

                                      IX-1

<PAGE>

confirmation of deposit of the purchase price required by Section 3.04 and the
Trustee or the Custodian shall, promptly following payment of the purchase price
and upon receipt from the Master Servicer of a Request for Release, release to
the Seller the Owner Mortgage Loan Files and Retained Mortgage Loan Files, if
applicable, pertaining to the Mortgage Loans being purchased.

          Notice of any termination, specifying the 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 for
payment of the final distribution and cancellation, shall be given promptly by
the Trustee by letter to Certificateholders mailed not earlier than the 15th day
of the month preceding the month of such final distribution and not later than
the twentieth day of the month of such final distribution specifying (A) the
Final Distribution Date upon which final payment of the Certificates will be
made upon presentation and surrender of Certificates at the office or agency of
the Trustee therein designated, (B) the amount of any such final payment and (C)
that the Record Date otherwise applicable to such Distribution Date is not
applicable, payments being made (except in the case of any Class A Certificate
surrendered on a prior Distribution Date pursuant to Section 4.01) only upon
presentation and surrender of the Certificates at the office or agency of the
Trustee therein specified. If the Seller is exercising its right to purchase,
the Seller shall deposit in the Certificate Account on or before the Final
Distribution Date in immediately available funds an amount equal to the purchase
price for the assets of the Trust Estate computed as above provided. Failure to
give notice of termination as described herein shall not entitle a
Certificateholder to any interest beyond the interest payable on the Final
Distribution Date.

          Upon presentation and surrender of the Certificates, the Trustee shall
cause to be distributed to Certificateholders on the Final Distribution Date in
proportion to their respective Percentage Interests an amount equal to (i) as to
the Classes of Class A Certificates, the respective Principal Balance together
with any related Class A Unpaid Interest Shortfall and one month's interest in
an amount equal to the respective Interest Accrual Amount, (ii) as to the
Classes of Class B Certificates, the respective Principal Balance together with
any related Class B Unpaid Interest Shortfall and one month's interest in an
amount equal to the respective Interest Accrual Amount and (iii) as to the Class
A-R Certificate, the amounts, if any, which remain on deposit in the Certificate
Account (other than amounts retained to meet claims) after application pursuant
to clauses (i), (ii) and (iii) above and payment to the Master Servicer of any
amounts it is entitled as reimbursement or otherwise hereunder. Notwithstanding
the foregoing, if the price paid pursuant to clause (i) of the first paragraph
of this Section 9.01, after reimbursement to the Servicers, the Master Servicer
and the Trustee of any Periodic Advances, is insufficient to pay in full the
amounts set forth in clauses (i), (ii) and (iii) of this paragraph, then any
shortfall in the amount available for distribution to Certificateholders shall
be allocated in reduction of the amounts otherwise distributable on the Final
Distribution Date in the same manner as Realized Losses are allocated pursuant
to Section 4.02(a) hereof. Such distribution on the Final Distribution Date
shall be in lieu of the distribution otherwise required to be made on such
Distribution Date in respect of each Class of Certificates.

          In the event that all of the Certificateholders shall not surrender
their Certificates for final payment and cancellation within three months
following the Final Distribution Date, the Trustee shall on such date cause all
funds, if any, in the Certificate Account not distributed in

                                      IX-2

<PAGE>

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. The Trustee 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 three months after the second notice all the
Certificates shall not have been surrendered for cancellation, the Trustee may
take appropriate steps, or may appoint an agent to take appropriate steps, to
contact the remaining Certificateholders concerning surrender of their
Certificates, and the cost thereof shall be paid out of the funds on deposit in
such escrow account.

          Section 9.02  Additional Termination Requirements.
                        ------------------------------------

          In the event of a termination of the Trust Estate upon the exercise by
the Seller of its purchase option as provided in Section 9.01, the Trust Estate
shall be terminated in accordance with the following additional requirements,
unless the Trustee has received an Opinion of Counsel to the effect that any
other manner of termination (i) will constitute a "qualified liquidation" of the
Trust Estate within the meaning of Code Section 860F(a)(4)(A) and (ii) will not
subject the REMIC to federal tax or cause the Trust Estate to fail to qualify as
a REMIC at any time that any Certificates are outstanding:

          (i)  The notice given by the Trustee under Section 9.01 shall provide
     that such notice constitutes the adoption of a plan of complete liquidation
     of the REMIC as of the date of such notice (or, if earlier, the date on
     which the first such notice is mailed to Certificateholders). The Master
     Servicer shall also specify such date in a statement attached to the final
     tax return of the REMIC; and

          (ii) At or after the time of adoption of such a plan of complete
     liquidation and at or prior to the Final Distribution Date, the Trustee
     shall sell all of the assets of the Trust Estate to the Seller for cash at
     the purchase price specified in Section 9.01 and shall distribute such cash
     within 90 days of such adoption in the manner specified in Section 9.01.

                                      IX-3

<PAGE>

                                    ARTICLE X

                            MISCELLANEOUS PROVISIONS

          Section 10.01 Amendment.
                        ----------

          (a)  This Agreement or the Custodial Agreement may be amended from
time to time by the Seller, the Master Servicer and the Trustee, without the
consent of any of the Certificateholders, (i) to cure any ambiguity or mistake,
(ii) to correct or supplement any provisions herein or therein which may be
inconsistent with any other provisions herein or therein or in the related
Prospectus, (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 Estate
as a REMIC at all times that any Certificates are outstanding or to avoid or
minimize the risk of the imposition of any federal tax on the Trust Estate or
the REMIC pursuant to the Code that would be a claim against the Trust Estate,
provided that (a) the Trustee has received an Opinion of Counsel to the effect
that 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
shall not, as evidenced by such Opinion of Counsel, adversely affect in any
material respect the interests of any Certificateholder, (iv) to change the
timing and/or nature of deposits into the Certificate Account provided that such
change shall not, as evidenced by an Opinion of Counsel, adversely affect in any
material respect the interests of any Certificateholder, (v) to modify,
eliminate or add to the provisions of Section 5.02 or any other provisions
hereof restricting transfer of the Certificates, provided that the Master
Servicer for purposes of Section 5.02 has determined in its sole discretion that
any such modifications to this Agreement will neither adversely affect the
rating on the Certificates nor give rise to a risk that the REMIC or any of the
Certificateholders will be subject to a tax caused by a transfer to a
non-permitted transferee and (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. Notwithstanding the foregoing, any amendment pursuant to
clause (iv) or (vi) shall not be deemed to adversely affect in any material
respect the interest of Certificateholders and no Opinion of Counsel to that
effect shall be required if the person requesting the amendment instead obtains
a letter from each Rating Agency stating that the amendment would not result in
the downgrading or withdrawal of the respective ratings then assigned to the
Certificates.

          This Agreement or the Custodial Agreement may also be amended from
time to time by the Seller, the Master Servicer and the Trustee, with the
consent of the Holders of Certificates evidencing in the aggregate not less than
66-2/3% of the aggregate Voting Interests of each Class of Certificates 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 received on
Mortgage Loans 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

                                       X-1

<PAGE>

than as described in clause (i) hereof without the consent of Holders of
Certificates of such Class evidencing, as to such Class, Voting Interests
aggregating not less than 66-2/3% or (iii) reduce the aforesaid percentage of
Certificates of any Class the Holders of which are required to consent to any
such amendment, without the consent of the Holders of all Certificates of such
Class then outstanding.

          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 to the effect that such amendment will not
subject the REMIC to tax or cause the Trust Estate to fail to qualify as a REMIC
at any time that any Certificates are outstanding.

          Promptly after the execution of any amendment requiring the consent of
Certificateholders, 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 10.01(a) 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.

          (b)  [Reserved]

          Section 10.02 Recordation of Agreement.
                        -------------------------

          This Agreement (or an abstract hereof, if acceptable to the applicable
recording office) is subject to recordation in all appropriate public offices
for real property records in all the towns or other comparable jurisdictions in
which any or all of the Mortgaged Properties are situated, and in any other
appropriate public office or elsewhere, such recordation to be effected by the
Master Servicer and at its expense on direction by the Trustee, 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.

          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 10.03 Limitation on Rights of Certificateholders.
                        -------------------------------------------

          The death or incapacity of any Certificateholder shall not operate to
terminate this Agreement or the Trust Estate, nor entitle such
Certificateholder's legal representatives or heirs to claim an accounting or
take any action or proceeding in any court for a partition or winding up of the
Trust Estate, nor otherwise affect the rights, obligations and liabilities of
the parties hereto or any of them.

          Except as otherwise expressly provided herein, no Certificateholder,
solely by virtue of its status as a Certificateholder, shall have any right to
vote or in any manner otherwise

                                       X-2

<PAGE>

control the operation and management of the Trust Estate, 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.

          No Certificateholder, solely by virtue of its status as
Certificateholder, shall have any right by virtue or by availing 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 evidencing not less than 25% of the Voting Interest
represented by all Certificates 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 cost, 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
shall have any right in any manner whatever by virtue or by availing of any
provision of this Agreement to affect, disturb or prejudice the rights of the
Holders of any other of such Certificates, 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 benefit
of all Certificateholders. For the protection and enforcement of the provisions
of this Section, each and every Certificateholder and the Trustee shall be
entitled to such relief as can be given either at law or in equity.

          Section 10.04 Governing Law; Jurisdiction.
                        ----------------------------

          This Agreement shall be construed in accordance with the laws of the
State of New York (without regard to conflicts of laws principles), and the
obligations, rights and remedies of the parties hereunder shall be determined in
accordance with such laws.

          Section 10.05 Notices.
                        --------

          All demands, notices and communications hereunder shall be in writing
and shall be deemed to have been duly given if personally delivered at or mailed
by certified or registered mail, return receipt requested (i) in the case of the
Seller, to Wells Fargo Asset Securities Corporation, 7485 New Horizon Way,
Frederick, Maryland 21703, Attention: Vice President, Structured Finance, or
such other address as may hereafter be furnished to the Master Servicer and the
Trustee in writing by the Seller, (ii) in the case of the Master Servicer, to
Wells Fargo Bank, N.A., 7485 New Horizon Way, Frederick, Maryland 21703,
Attention: Vice President, or such other address as may hereafter be furnished
to the Seller and the Trustee in writing by the Master Servicer and (iii) in the
case of the Trustee, to the Corporate Trust Office, or such other address as may
hereafter be furnished to the Seller and the Master Servicer in writing by the
Trustee, in each case Attention: Corporate Trust Department. Any notice required
or permitted to be mailed to a Certificateholder shall be given by first class
mail, postage prepaid, at the address

                                       X-3

<PAGE>

of such Holder as shown in the Certificate Register. Any notice mailed or
transmitted within the time prescribed in this Agreement shall be conclusively
presumed to have been duly given, whether or not the addressee receives such
notice; provided, however, that any demand, notice or communication to or upon
the Seller, the Master Servicer or the Trustee shall not be effective until
received.

          For all purposes of this Agreement, in the absence of actual knowledge
by an officer of the Master Servicer, the Master Servicer shall not be deemed to
have knowledge of any act or failure to act of any Servicer unless notified
thereof in writing by the Trustee, the Servicer or a Certificateholder.

          Section 10.06 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 10.07 Special Notices to Rating Agencies.
                        -----------------------------------

          (a)  The Trustee shall give prompt notice to each Rating Agency of the
occurrence of any of the following events of which it has notice:

          (i)    any amendment to this Agreement pursuant to Section 10.01(a);

          (ii)   any sale or transfer of the Class B Certificates pursuant to
     Section 5.02 to an affiliate of the Seller;

          (iii)  any assignment by the Master Servicer of its rights and
     delegation of its duties pursuant to Section 6.06;

          (iv)   any resignation of the Master Servicer pursuant to
     Section 6.04;

          (v)    the occurrence of any of the Events of Default described in
     Section 7.01;

          (vi)   any notice of termination given to the Master Servicer pursuant
     to Section 7.01;

          (vii)  the appointment of any successor to the Master Servicer
     pursuant to Section 7.05; or

          (viii) the making of a final payment pursuant to Section 9.01.

          (b)  The Master Servicer shall give prompt notice to each Rating
Agency of the occurrence of any of the following events:

                                       X-4

<PAGE>

          (i)    the resignation of the Custodian or the appointment of a
     successor Custodian pursuant to the Custodial Agreement;

          (ii)   the resignation or removal of the Trustee pursuant to Section
     8.08;

          (iii)  the appointment of a successor trustee pursuant to
     Section 8.09; or

          (iv)   the sale, transfer or other disposition in a single transaction
     of 50% or more of the equity interests in the Master Servicer.

          (c)  The Master Servicer shall deliver to each Rating Agency:

          (i)    reports prepared pursuant to Section 3.05; and

          (ii)   statements prepared pursuant to Section 4.04.

          Section 10.08 Covenant of Seller.
                        -------------------

          The Seller shall not amend Article Third of its Certificate of
Incorporation without the prior written consent of each Rating Agency rating the
Certificates.

          Section 10.09 Recharacterization.
                        -------------------

          The Parties intend the conveyance by the Seller to the Trustee of all
of its right, title and interest in and to the Trust Estate pursuant to this
Agreement to constitute a purchase and sale and not a loan. Notwithstanding the
foregoing, to the extent that such conveyance is held not to constitute a sale
under applicable law, it is intended that this Agreement shall constitute a
security agreement under applicable law and that the Seller shall be deemed to
have granted to the Trustee a first priority security interest in all of the
Seller's right, title and interest in and to the Trust Estate.

                                       X-5

<PAGE>

                                   ARTICLE II

                             TERMS FOR CERTIFICATES

          Section 11.01 Cut-Off Date.
                        -------------

          The Cut-Off Date for the Certificates is _______, 200_.

          Section 11.02 Cut-Off Date Aggregate Principal Balance.
                        -----------------------------------------

          The Cut-Off Date Aggregate Principal Balance is $______________.

          Section 11.03 Original Class A Percentage.
                        ----------------------------

          The Original Class A Percentage is ______________%.

          Section 11.04 Original Principal Balances of the Classes of Class A
                        -----------------------------------------------------
                        Certificates.
                        -------------

          As to the following Classes of Class A Certificates, the Principal
Balance of such Class as of the Cut-Off Date, as follows:

                             Original
             Class      Principal Balance
          ----------    -----------------
          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 A-R     $

          Section 11.05 Original Subordinated Percentage.
                        ---------------------------------

          The Original Subordinated Percentage is __________%.

          Section 11.06 Original Class B Principal Balance.
                        -----------------------------------

          The Original Class B Principal Balance is $__________.

                                      XI-1

<PAGE>

          Section 11.07 Original Principal Balances of the Classes of Class B
                        -----------------------------------------------------
                        Certificates.
                        -------------

          As to the following Classes of Class B Certificate, the Principal
Balance of such Class as of the Cut-Off Date, is as follows:

                             Original
            Class       Principal Balance
          ---------     -----------------
          Class B-1     $
          Class B-2     $
          Class B-3     $
          Class B-4     $
          Class B-5     $
          Class B-6     $

          Section 11.08 Original Class B-1 Fractional Interest.
                        ---------------------------------------

          The Original Class B-1 Fractional Interest is __________%.

          Section 11.09 Original Class B-2 Fractional Interest.
                        ---------------------------------------

          The Original Class B-2 Fractional Interest is __________%.

          Section 11.10 Original Class B-3 Fractional Interest.
                        ---------------------------------------

          The Original Class B-3 Fractional Interest is __________%.

          Section 11.11 Original Class B-4 Fractional Interest.
                        ---------------------------------------

          The Original Class B-4 Fractional Interest is __________%.

          Section 11.12 Original Class B-5 Fractional Interest.
                        ---------------------------------------

          The Original Class B-5 Fractional Interest is __________%.

          Section 11.13 Original Class B-1 Percentage.
                        ------------------------------

          The Original Class B-1 Percentage is __________%.

          Section 11.14 Original Class B-2 Percentage.
                        ------------------------------

          The Original Class B-2 Percentage is __________%.

          Section 11.15 Original Class B-3 Percentage.
                        ------------------------------

          The Original Class B-3 Percentage is ___________%.

                                      XI-2

<PAGE>

          Section 11.16 Original Class B-4 Percentage.
                        ------------------------------

          The Original Class B-4 Percentage is __________%.

          Section 11.17 Original Class B-5 Percentage.
                        ------------------------------

          The Original Class B-5 Percentage is __________%.

          Section 11.18 Original Class B-6 Percentage.
                        ------------------------------

          The Original Class B-6 Percentage is ___________%.

          Section 11.19 Closing Date.
                        -------------

          The Closing Date is ______, 200_.

          Section 11.20 Right to Purchase.
                        ------------------

          The right of the Seller to purchase all of the Mortgage Loans pursuant
to Section 9.01 hereof shall be conditioned upon the Pool Scheduled Principal
Balance of the Mortgage Loans being less than $_____________ (10% of the Cut-Off
Date Aggregate Principal Balance) at the time of any such purchase.

          Section 11.21 Wire Transfer Eligibility.
                        --------------------------

          With respect to 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
B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class B-6 Certificates, the
minimum Denomination eligible for wire transfer on each Distribution Date is
$100,000. The Class A-R Certificate is not eligible for wire transfer.

          Section 11.22 Single Certificate.
                        -------------------

          A Single Certificate for 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 and Class A-9 Certificates
represents a $______ Denomination. A Single Certificate for the Class A-10,
Class A-11, Class B-1, Class B-2 and Class B-3 Certificates represents a
$_______ Denomination. A Single Certificate for the Class B-4 and Class B-5
Certificates represents a $250,000 Denomination. A Single Certificate for the
Class B-6 Certificates represents a $__________ Denomination. A Single
Certificate for the Class A-R Certificate represents a $100 Denomination.

          Section 11.23 Servicing Fee Rate.
                        -------------------

          The rate used to calculate the Servicing Fee is equal to such rate as
is set forth on the Mortgage Loan Schedule with respect to a Mortgage Loan.

                                      XI-3

<PAGE>

          Section 11.24 Master Servicing Fee Rate.
                        --------------------------

          The rate used to calculate the Master Servicing Fee for each Mortgage
Loan is 0.010% per annum.

                                      XI-4

<PAGE>

          IN WITNESS WHEREOF, the Seller, the Master Servicer and the Trustee
have caused their names to be signed hereto by their respective officers
thereunto duly authorized, all as of the day and year first above written.

                                        WELLS FARGO ASSET SECURITIES CORPORATION
                                            as Seller

                                        By:
                                            ------------------------------------
                                            Name:  Susan M. Hughes
                                            Title: Vice President

                                        WELLS FARGO BANK, N.A.
                                            as Master Servicer

                                        By:
                                            ------------------------------------
                                            Name:  Heather J. Partin
                                            Title: Vice President

                                        [TRUSTEE]
                                            as Trustee

                                        By:
                                            ------------------------------------
                                            Name:
                                            Title:

Attest:
By:
    ----------------------------------
Name:
      --------------------------------
Title:
       -------------------------------

<PAGE>

STATE OF ________       )
                        ss.:
COUNTY OF __________    )

          On this ____ day of ___, 200_, before me, a notary public in and for
the State of ________, personally appeared _____________, known to me who, being
by me duly sworn, did depose and say that she resides at ____________; that she
is a ______________ of Wells Fargo Asset Securities Corporation, a Delaware
corporation, one of the parties that executed the foregoing instrument; and that
she signed her name thereto by order of the Board of Directors of said
corporation.

------------------------
Notary Public

[NOTARIAL SEAL]

<PAGE>

STATE OF ________       )
                        ss.:
COUNTY OF _________     )

          On this ____ day of ___, 200_, before me, a notary public in and for
the State of ________, personally appeared ________________, known to me who,
being by me duly sworn, did depose and say that she resides in
_________________; that she is a ____________ of Wells Fargo Bank, N.A., a
national banking association, one of the parties that executed the foregoing
instrument; and that she signed her name thereto by order of the Board of
Directors of said association.

------------------------
Notary Public

[NOTARIAL SEAL]

<PAGE>

STATE OF __________     )
                        ss.:
COUNTY OF               )

          On this ____ day of ___, 200_, before me, a notary public in and for
the State of ______________, personally appeared ___________________, known to
me who, being by me duly sworn, did depose and say that s/he resides in
_________________; that s/he is a ___________________ of [TRUSTEE], a national
banking association, one of the parties that executed the foregoing instrument;
and that s/he signed his/her name thereto by order of the Board of Directors of
said association.

------------------------
Notary Public

[NOTARIAL SEAL]

<PAGE>

STATE OF ___________    )
                        ss.:
COUNTY OF               )

          On this ____ day of ___, 200_, before me, a notary public in and for
the State of ______________, personally appeared _____________________, known to
me who, being by me duly sworn, did depose and say that s/he resides in
__________________; that s/he is a _____________________ of [TRUSTEE], a
national banking association, one of the parties that executed the foregoing
instrument; and that s/he signed her/his name thereto by order of the Board of
Directors of said association.

------------------------
Notary Public

[NOTARIAL SEAL]

<PAGE>

                                   SCHEDULE I

                    Wells Fargo Asset Securities Corporation,
                Mortgage Pass-Through Certificates, Series 200_-_
                 Applicable Unscheduled Principal Receipt Period

                          Full Unscheduled    Partial Unscheduled
Servicer                 Principal Receipts   Principal Receipts
----------------------   ------------------   -------------------
Wells Fargo Bank, N.A.        Mid-Month            Mid-Month

<PAGE>

                                   EXHIBIT A-1
                     [FORM OF FACE OF CLASS A-1 CERTIFICATE]

      [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE
         OF THE DEPOSITORY TRUST COMPANY TO THE SELLER OR ITS AGENT FOR
       REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE
      ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS
       REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
      COMPANY AND ANY PAYMENT IS MADE TO CEDE & CO., ANY TRANSFER, PLEDGE
       OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
         WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                               INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 200_-_, CLASS A-1

                 evidencing an interest in a pool of adjustable
                    interest rate, conventional, monthly pay,
                      fully amortizing, first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
                (Not an interest in or obligation of the Seller)

     THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST IN, THE
SELLER, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES, AND IS NOT
INSURED OR GUARANTEED BY THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR ANY OF
THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE INSURER.

     DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS CERTIFICATE
WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY, THE
OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN
THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                      Cut-Off Date: _____, 20__

CUSIP No.:                           First Distribution Date: ______, 20__

                                     Denomination:  $

Percentage Interest evidenced        Final Scheduled Maturity Date: ______, 20__
by this Certificate: %

<PAGE>

     THIS CERTIFIES THAT ___________________________ is the registered owner of
the Percentage Interest evidenced by this Certificate in monthly distributions
to the Holders of the Class A-1 Certificates with respect to a Trust Estate
consisting of a pool of adjustable interest rate, conventional, monthly pay,
fully amortizing, first lien, one- to four-family residential mortgage loans
(the "Mortgage Loans"), formed by Wells Fargo Asset Securities Corporation
(hereinafter called the "Seller," which term includes any successor entity under
the Agreement referred to below). The Trust Estate was created pursuant to a
Pooling and Servicing Agreement dated as of ______, 20__ (the "Agreement") among
the Seller, Wells Fargo Bank, N.A., as master servicer (the "Master Servicer")
and [TRUSTEE], as trustee (the "Trustee"), a summary of certain of the pertinent
provisions of which is set forth hereinafter. To the extent not defined herein,
the capitalized terms used herein have the meanings ascribed to such terms 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 Business Day of the month
preceding the month of such distribution, in an amount equal to the product of
the Percentage Interest evidenced by this Certificate and the Class A
Distribution Amount for the Class A-1 Certificates required to be distributed to
Holders of the Class A-1 Certificates on such Distribution Date, subject to
adjustment in certain events as specified in the Agreement. Distributions in
reduction of the Principal Balance of certain Classes of Class A Certificates
may not commence on the first Distribution Date specified above. Distributions
of principal will be allocated among the Classes of Class A Certificates in
accordance with the provisions of the Agreement. The pass-through rate on the
Class A-1 Certificates applicable to each Distribution Date will be a per annum
rate equal to the weighted average of the Net Mortgage Interest Rates of the
Mortgage Loans (based on the Scheduled Principal Balances of the Mortgage Loans
on the first day of the month preceding the month of such Distribution Date).
The amount of interest which accrues on this Certificate in any month will be
subject to reduction with respect to any Non-Supported Interest Shortfall, any
Relief Act Shortfall and the interest portion of certain Realized Losses
allocated to the Class A-1 Certificates, as described in the Agreement.

     Distributions on this Certificate will be made on behalf of the Trustee
either by the Master Servicer or by a Paying Agent appointed by the Master
Servicer by check mailed to the address of the Person entitled thereto, as such
name and address shall appear on the Certificate Register, unless such Person is
entitled to receive payments by wire transfer in immediately available funds in
accordance with the Agreement and such Person has notified the Master Servicer
pursuant to the Agreement that such payments are to be made by wire transfer of
immediately available funds. Notwithstanding the above, the final distribution
in reduction of the Principal Balance of 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 specified by the Trustee
for that purpose in the notice of final distribution.

                                      A-1-2

<PAGE>

     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.

     This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

     Unless this Certificate has been countersigned by an authorized officer of
the Trustee, by manual signature, this Certificate shall not be entitled to any
benefit under the Agreement or be valid for any purpose.

                                      A-1-3

<PAGE>

     IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
executed as of the date set forth below.

Dated:

                                        [TRUSTEE],
                                              Trustee

                                        By____________________________
                                              Authorized Officer

Countersigned:

[TRUSTEE],
  Trustee

By ________________________
   Authorized Officer

                                      A-1-4

<PAGE>

                                   EXHIBIT A-2
                     [FORM OF FACE OF CLASS A-2 CERTIFICATE]

      [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE
         OF THE DEPOSITORY TRUST COMPANY TO THE SELLER OR ITS AGENT FOR
       REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE
      ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS
       REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
      COMPANY AND ANY PAYMENT IS MADE TO CEDE & CO., ANY TRANSFER, PLEDGE
       OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
         WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                               INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 200_-_, CLASS A-2

                 evidencing an interest in a pool of adjustable
                    interest rate, conventional, monthly pay,
                      fully amortizing, first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
                (Not an interest in or obligation of the Seller)

     THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST IN, THE
SELLER, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES, AND IS NOT
INSURED OR GUARANTEED BY THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR ANY OF
THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE INSURER.

     DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS CERTIFICATE
WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY, THE
OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN
THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                      Cut-Off Date: _____, 20__

CUSIP No.:                           First Distribution Date: ______, 20__

                                     Denomination: $

Percentage Interest evidenced        Final Scheduled Maturity Date: ______, 20__
by this Certificate: %

<PAGE>

     THIS CERTIFIES THAT ___________________________ is the registered owner of
the Percentage Interest evidenced by this Certificate in monthly distributions
to the Holders of the Class A-2 Certificates with respect to a Trust Estate
consisting of a pool of adjustable interest rate, conventional, monthly pay,
fully amortizing, first lien, one- to four-family residential mortgage loans
(the "Mortgage Loans"), formed by Wells Fargo Asset Securities Corporation
(hereinafter called the "Seller," which term includes any successor entity under
the Agreement referred to below). The Trust Estate was created pursuant to a
Pooling and Servicing Agreement dated as of _____, 20__ (the "Agreement") among
the Seller, Wells Fargo Bank, N.A., as master servicer (the "Master Servicer")
and [TRUSTEE], as trustee (the "Trustee"), a summary of certain of the pertinent
provisions of which is set forth hereinafter. To the extent not defined herein,
the capitalized terms used herein have the meanings ascribed to such terms 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 Business Day of the month
preceding the month of such distribution, in an amount equal to the product of
the Percentage Interest evidenced by this Certificate and the Class A
Distribution Amount for the Class A-2 Certificates required to be distributed to
Holders of the Class A-2 Certificates on such Distribution Date, subject to
adjustment in certain events as specified in the Agreement. Distributions in
reduction of the Principal Balance of certain Classes of Class A Certificates
may not commence on the first Distribution Date specified above. Distributions
of principal will be allocated among the Classes of Class A Certificates in
accordance with the provisions of the Agreement. The pass-through rate on the
Class A-2 Certificates applicable to each Distribution Date will be a per annum
rate equal to the weighted average of the Net Mortgage Interest Rates of the
Mortgage Loans (based on the Scheduled Principal Balances of the Mortgage Loans
on the first day of the month preceding the month of such Distribution Date).
The amount of interest which accrues on this Certificate in any month will be
subject to reduction with respect to any Non-Supported Interest Shortfall, any
Relief Act Shortfall and the interest portion of certain Realized Losses
allocated to the Class A-2 Certificates, as described in the Agreement.

     Distributions on this Certificate will be made on behalf of the Trustee
either by the Master Servicer or by a Paying Agent appointed by the Master
Servicer by check mailed to the address of the Person entitled thereto, as such
name and address shall appear on the Certificate Register, unless such Person is
entitled to receive payments by wire transfer in immediately available funds in
accordance with the Agreement and such Person has notified the Master Servicer
pursuant to the Agreement that such payments are to be made by wire transfer of
immediately available funds. Notwithstanding the above, the final distribution
in reduction of the Principal Balance of 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 specified by the Trustee
for that purpose in the notice of final distribution.

                                      A-2-2

<PAGE>

     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.

     This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

     Unless this Certificate has been countersigned by an authorized officer of
the Trustee, by manual signature, this Certificate shall not be entitled to any
benefit under the Agreement or be valid for any purpose.

                                      A-2-3

<PAGE>

     IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
executed as of the date set forth below.

Dated:

                                        [TRUSTEE],
                                              Trustee

                                        By____________________________
                                              Authorized Officer

Countersigned:

[TRUSTEE],
  Trustee

By ________________________
   Authorized Officer

                                      A-2-4

<PAGE>

                                   EXHIBIT A-3
                     [FORM OF FACE OF CLASS A-3 CERTIFICATE]

  [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
     DEPOSITORY TRUST COMPANY TO THE SELLER OR ITS AGENT FOR REGISTRATION OF
     TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED
   IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE &
 CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
  ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                               INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 200_-_, CLASS A-3

                 evidencing an interest in a pool of adjustable
                    interest rate, conventional, monthly pay,
                      fully amortizing, first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
                (Not an interest in or obligation of the Seller)

     THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST IN, THE
SELLER, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES, AND IS NOT
INSURED OR GUARANTEED BY THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR ANY OF
THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE INSURER.

     DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS CERTIFICATE
WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY, THE
OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN
THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                    Cut-Off Date:  _____, 20__

CUSIP No.:                         First Distribution Date:  _______, 20__

                                   Denomination:  $

Percentage Interest evidenced      Final Scheduled Maturity Date:  _______, 20__
by this Certificate: %

<PAGE>

     THIS CERTIFIES THAT ___________________________ is the registered owner of
the Percentage Interest evidenced by this Certificate in monthly distributions
to the Holders of the Class A-3 Certificates with respect to a Trust Estate
consisting of a pool of adjustable interest rate, conventional, monthly pay,
fully amortizing, first lien, one- to four-family residential mortgage loans
(the "Mortgage Loans"), formed by Wells Fargo Asset Securities Corporation
(hereinafter called the "Seller," which term includes any successor entity under
the Agreement referred to below). The Trust Estate was created pursuant to a
Pooling and Servicing Agreement dated as of _____, 20__ (the "Agreement") among
the Seller, Wells Fargo Bank, N.A., as master servicer (the "Master Servicer")
and [TRUSTEE], as trustee (the "Trustee"), a summary of certain of the pertinent
provisions of which is set forth hereinafter. To the extent not defined herein,
the capitalized terms used herein have the meanings ascribed to such terms 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 Business Day of the month
preceding the month of such distribution, in an amount equal to the product of
the Percentage Interest evidenced by this Certificate and the Class A
Distribution Amount for the Class A-3 Certificates required to be distributed to
Holders of the Class A-3 Certificates on such Distribution Date, subject to
adjustment in certain events as specified in the Agreement. Distributions in
reduction of the Principal Balance of certain Classes of Class A Certificates
may not commence on the first Distribution Date specified above. Distributions
of principal will be allocated among the Classes of Class A Certificates in
accordance with the provisions of the Agreement. The pass-through rate on the
Class A-3 Certificates applicable to each Distribution Date will be a per annum
rate equal to the weighted average of the Net Mortgage Interest Rates of the
Mortgage Loans (based on the Scheduled Principal Balances of the Mortgage Loans
on the first day of the month preceding the month of such Distribution Date).
The amount of interest which accrues on this Certificate in any month will be
subject to reduction with respect to any Non-Supported Interest Shortfall, any
Relief Act Shortfall and the interest portion of certain Realized Losses
allocated to the Class A-3 Certificates, as described in the Agreement.

     Distributions on this Certificate will be made on behalf of the Trustee
either by the Master Servicer or by a Paying Agent appointed by the Master
Servicer by check mailed to the address of the Person entitled thereto, as such
name and address shall appear on the Certificate Register, unless such Person is
entitled to receive payments by wire transfer in immediately available funds in
accordance with the Agreement and such Person has notified the Master Servicer
pursuant to the Agreement that such payments are to be made by wire transfer of
immediately available funds. Notwithstanding the above, the final distribution
in reduction of the Principal Balance of 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 specified by the Trustee
for that purpose in the notice of final distribution.

                                      A-3-2

<PAGE>

     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.

     This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

     Unless this Certificate has been countersigned by an authorized officer of
the Trustee, by manual signature, this Certificate shall not be entitled to any
benefit under the Agreement or be valid for any purpose.

                                      A-3-3

<PAGE>

     IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
executed as of the date set forth below.

Dated:

                                                [TRUSTEE],
                                                   Trustee

                                                By____________________________
                                                      Authorized Officer

Countersigned:

[TRUSTEE],
  Trustee

By ________________________
   Authorized Officer

                                      A-3-4

<PAGE>

                                   EXHIBIT A-4
                     [FORM OF FACE OF CLASS A-4 CERTIFICATE]

  [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
    DEPOSITORY TRUST COMPANY TO THE SELLER OR ITS AGENT FOR REGISTRATION OF
 TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
      NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE &
 CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
  ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                               INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 200_-_, CLASS A-4

                 evidencing an interest in a pool of adjustable
                    interest rate, conventional, monthly pay,
                      fully amortizing, first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
                (Not an interest in or obligation of the Seller)

     THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST IN, THE
SELLER, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES, AND IS NOT
INSURED OR GUARANTEED BY THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR ANY OF
THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE INSURER.

     DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS CERTIFICATE
WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY, THE
OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN
THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                    Cut-Off Date:  _____, 20__

CUSIP No.:                         First Distribution Date:  _______, 20__

                                   Denomination:  $

Percentage Interest evidenced      Final Scheduled Maturity Date:  _______, 20__
by this Certificate: %

<PAGE>

     THIS CERTIFIES THAT ___________________________ is the registered owner of
the Percentage Interest evidenced by this Certificate in monthly distributions
to the Holders of the Class A-4 Certificates with respect to a Trust Estate
consisting of a pool of adjustable interest rate, conventional, monthly pay,
fully amortizing, first lien, one- to four-family residential mortgage loans
(the "Mortgage Loans"), formed by Wells Fargo Asset Securities Corporation
(hereinafter called the "Seller," which term includes any successor entity under
the Agreement referred to below). The Trust Estate was created pursuant to a
Pooling and Servicing Agreement dated as of ______, 20__ (the "Agreement") among
the Seller, Wells Fargo Bank, N.A., as master servicer (the "Master Servicer")
and [TRUSTEE], as trustee (the "Trustee"), a summary of certain of the pertinent
provisions of which is set forth hereinafter. To the extent not defined herein,
the capitalized terms used herein have the meanings ascribed to such terms 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 Business Day of the month
preceding the month of such distribution, in an amount equal to the product of
the Percentage Interest evidenced by this Certificate and the Class A
Distribution Amount for the Class A-4 Certificates required to be distributed to
Holders of the Class A-4 Certificates on such Distribution Date, subject to
adjustment in certain events as specified in the Agreement. Distributions in
reduction of the Principal Balance of certain Classes of Class A Certificates
may not commence on the first Distribution Date specified above. Distributions
of principal will be allocated among the Classes of Class A Certificates in
accordance with the provisions of the Agreement. The pass-through rate on the
Class A-4 Certificates applicable to each Distribution Date will be a per annum
rate equal to the weighted average of the Net Mortgage Interest Rates of the
Mortgage Loans (based on the Scheduled Principal Balances of the Mortgage Loans
on the first day of the month preceding the month of such Distribution Date).
The amount of interest which accrues on this Certificate in any month will be
subject to reduction with respect to any Non-Supported Interest Shortfall, any
Relief Act Shortfall and the interest portion of certain Realized Losses
allocated to the Class A-4 Certificates, as described in the Agreement.

     Distributions on this Certificate will be made on behalf of the Trustee
either by the Master Servicer or by a Paying Agent appointed by the Master
Servicer by check mailed to the address of the Person entitled thereto, as such
name and address shall appear on the Certificate Register, unless such Person is
entitled to receive payments by wire transfer in immediately available funds in
accordance with the Agreement and such Person has notified the Master Servicer
pursuant to the Agreement that such payments are to be made by wire transfer of
immediately available funds. Notwithstanding the above, the final distribution
in reduction of the Principal Balance of 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 specified by the Trustee
for that purpose in the notice of final distribution.

                                      A-4-2

<PAGE>

          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.

          This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

          Unless this Certificate has been countersigned by an authorized
officer of the Trustee, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

                                      A-4-3

<PAGE>

          IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
executed as of the date set forth below.

Dated:

                                           [TRUSTEE],
                                              Trustee

                                           By____________________________
                                               Authorized Officer

Countersigned:

[TRUSTEE],
 Trustee

By ________________________
   Authorized Officer

                                      A-4-4

<PAGE>

                                   EXHIBIT A-5
                     [FORM OF FACE OF CLASS A-5 CERTIFICATE]

      [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE
         OF THE DEPOSITORY TRUST COMPANY TO THE SELLER OR ITS AGENT FOR
       REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE
      ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS
       REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
      COMPANY AND ANY PAYMENT IS MADE TO CEDE & CO., ANY TRANSFER, PLEDGE
       OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
         WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                               INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 200_-_, CLASS A-5

                 evidencing an interest in a pool of adjustable
                    interest rate, conventional, monthly pay,
                      fully amortizing, first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
                (Not an interest in or obligation of the Seller)

          THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES, AND
IS NOT INSURED OR GUARANTEED BY THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR
ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE INSURER.

          DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                      Cut-Off Date: _____, 20__

CUSIP No.:                           First Distribution Date: ______, 20__

                                     Denomination:  $

Percentage Interest evidenced        Final Scheduled Maturity Date: ______, 20__
by this Certificate: %

<PAGE>

          THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-5 Certificates with respect to a
Trust Estate consisting of a pool of adjustable interest rate, conventional,
monthly pay, fully amortizing, first lien, one- to four-family residential
mortgage loans (the "Mortgage Loans"), formed by Wells Fargo Asset Securities
Corporation (hereinafter called the "Seller," which term includes any successor
entity under the Agreement referred to below). The Trust Estate was created
pursuant to a Pooling and Servicing Agreement dated as of ______, 20__ (the
"Agreement") among the Seller, Wells Fargo Bank, N.A., as master servicer (the
"Master Servicer") and [TRUSTEE], as trustee (the "Trustee"), a summary of
certain of the pertinent provisions of which is set forth hereinafter. To the
extent not defined herein, the capitalized terms used herein have the meanings
ascribed to such terms 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 Business Day of
the month preceding the month of such distribution, in an amount equal to the
product of the Percentage Interest evidenced by this Certificate and the Class A
Distribution Amount for the Class A-5 Certificates required to be distributed to
Holders of the Class A-5 Certificates on such Distribution Date, subject to
adjustment in certain events as specified in the Agreement. Distributions in
reduction of the Principal Balance of certain Classes of Class A Certificates
may not commence on the first Distribution Date specified above. Distributions
of principal will be allocated among the Classes of Class A Certificates in
accordance with the provisions of the Agreement. The pass-through rate on the
Class A-5 Certificates applicable to each Distribution Date will be a per annum
rate equal to the weighted average of the Net Mortgage Interest Rates of the
Mortgage Loans (based on the Scheduled Principal Balances of the Mortgage Loans
on the first day of the month preceding the month of such Distribution Date).
The amount of interest which accrues on this Certificate in any month will be
subject to reduction with respect to any Non-Supported Interest Shortfall, any
Relief Act Shortfall and the interest portion of certain Realized Losses
allocated to the Class A-5 Certificates, as described in the Agreement.

          Distributions on this Certificate will be made on behalf of the
Trustee either by the Master Servicer or by a Paying Agent appointed by the
Master Servicer by check mailed to the address of the Person entitled thereto,
as such name and address shall appear on the Certificate Register, unless such
Person is entitled to receive payments by wire transfer in immediately available
funds in accordance with the Agreement and such Person has notified the Master
Servicer pursuant to the Agreement that such payments are to be made by wire
transfer of immediately available funds. Notwithstanding the above, the final
distribution in reduction of the Principal Balance of 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 specified
by the Trustee for that purpose in the notice of final distribution.

                                      A-5-2

<PAGE>

     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.

     This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

     Unless this Certificate has been countersigned by an authorized officer of
the Trustee, by manual signature, this Certificate shall not be entitled to any
benefit under the Agreement or be valid for any purpose.

                                      A-5-3

<PAGE>

     IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
executed as of the date set forth below.

Dated:

                                                 [TRUSTEE],
                                                    Trustee

                                                 By____________________________
                                                       Authorized Officer

Countersigned:

[TRUSTEE],
 Trustee

By ________________________
   Authorized Officer

                                     A-5-4

<PAGE>

                                   EXHIBIT A-6
                     [FORM OF FACE OF CLASS A-6 CERTIFICATE]

  [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
    DEPOSITORY TRUST COMPANY TO THE SELLER OR ITS AGENT FOR REGISTRATION OF
 TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
      NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE &
 CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
  ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                               INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 200_-_, CLASS A-6

                 evidencing an interest in a pool of adjustable
                    interest rate, conventional, monthly pay,
                      fully amortizing, first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
                (Not an interest in or obligation of the Seller)

     THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST IN, THE
SELLER, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES, AND IS NOT
INSURED OR GUARANTEED BY THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR ANY OF
THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE INSURER.

     DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS CERTIFICATE
WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY, THE
OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN
THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                    Cut-Off Date:  _____, 20__

CUSIP No.:                         First Distribution Date: _______, 20__

                                   Denomination:  $

Percentage Interest evidenced      Final Scheduled Maturity Date:  _______, 20__
by this Certificate: %

<PAGE>

     THIS CERTIFIES THAT ___________________________ is the registered owner of
the Percentage Interest evidenced by this Certificate in monthly distributions
to the Holders of the Class A-6 Certificates with respect to a Trust Estate
consisting of a pool of adjustable interest rate, conventional, monthly pay,
fully amortizing, first lien, one- to four-family residential mortgage loans
(the "Mortgage Loans"), formed by Wells Fargo Asset Securities Corporation
(hereinafter called the "Seller," which term includes any successor entity under
the Agreement referred to below). The Trust Estate was created pursuant to a
Pooling and Servicing Agreement dated as of ______, 20__ (the "Agreement") among
the Seller, Wells Fargo Bank, N.A., as master servicer (the "Master Servicer")
and [TRUSTEE], as trustee (the "Trustee"), a summary of certain of the pertinent
provisions of which is set forth hereinafter. To the extent not defined herein,
the capitalized terms used herein have the meanings ascribed to such terms 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 Business Day of the month
preceding the month of such distribution, in an amount equal to the product of
the Percentage Interest evidenced by this Certificate and the Class A
Distribution Amount for the Class A-6 Certificates required to be distributed to
Holders of the Class A-6 Certificates on such Distribution Date, subject to
adjustment in certain events as specified in the Agreement. Distributions in
reduction of the Principal Balance of certain Classes of Class A Certificates
may not commence on the first Distribution Date specified above. Distributions
of principal will be allocated among the Classes of Class A Certificates in
accordance with the provisions of the Agreement. The pass-through rate on the
Class A-6 Certificates applicable to each Distribution Date will be a per annum
rate equal to the weighted average of the Net Mortgage Interest Rates of the
Mortgage Loans (based on the Scheduled Principal Balances of the Mortgage Loans
on the first day of the month preceding the month of such Distribution Date).
The amount of interest which accrues on this Certificate in any month will be
subject to reduction with respect to any Non-Supported Interest Shortfall, any
Relief Act Shortfall and the interest portion of certain Realized Losses
allocated to the Class A-6 Certificates, as described in the Agreement.

     Distributions on this Certificate will be made on behalf of the Trustee
either by the Master Servicer or by a Paying Agent appointed by the Master
Servicer by check mailed to the address of the Person entitled thereto, as such
name and address shall appear on the Certificate Register, unless such Person is
entitled to receive payments by wire transfer in immediately available funds in
accordance with the Agreement and such Person has notified the Master Servicer
pursuant to the Agreement that such payments are to be made by wire transfer of
immediately available funds. Notwithstanding the above, the final distribution
in reduction of the Principal Balance of 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 specified by the Trustee
for that purpose in the notice of final distribution.

                                      A-6-2

<PAGE>

     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.

     This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

     Unless this Certificate has been countersigned by an authorized officer of
the Trustee, by manual signature, this Certificate shall not be entitled to any
benefit under the Agreement or be valid for any purpose.

                                      A-6-3

<PAGE>

     IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
executed as of the date set forth below.

Dated:

                                               [TRUSTEE],
                                                     Trustee

                                               By____________________________
                                                     Authorized Officer

Countersigned:

[TRUSTEE],
  Trustee

By ________________________
   Authorized Officer

                                      A-6-4

<PAGE>

                                   EXHIBIT A-7
                     [FORM OF FACE OF CLASS A-7 CERTIFICATE]

  [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
    DEPOSITORY TRUST COMPANY TO THE SELLER OR ITS AGENT FOR REGISTRATION OF
 TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
      NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE &
 CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
  ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                               INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 200_-_, CLASS A-7

                 evidencing an interest in a pool of adjustable
                    interest rate, conventional, monthly pay,
                      fully amortizing, first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
                (Not an interest in or obligation of the Seller)

     THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST IN, THE
SELLER, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES, AND IS NOT
INSURED OR GUARANTEED BY THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR ANY OF
THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE INSURER.

     DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS CERTIFICATE
WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY, THE
OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN
THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                  Cut-Off Date:  _____, 20__

CUSIP No.:                       First Distribution Date: _______, 20__

                                 Denomination:  $

Percentage Interest evidenced    Final Scheduled Maturity Date:  _______, 20__
by this Certificate: %

<PAGE>

     THIS CERTIFIES THAT ___________________________ is the registered owner of
the Percentage Interest evidenced by this Certificate in monthly distributions
to the Holders of the Class A-7 Certificates with respect to a Trust Estate
consisting of a pool of adjustable interest rate, conventional, monthly pay,
fully amortizing, first lien, one- to four-family residential mortgage loans
(the "Mortgage Loans"), formed by Wells Fargo Asset Securities Corporation
(hereinafter called the "Seller," which term includes any successor entity under
the Agreement referred to below). The Trust Estate was created pursuant to a
Pooling and Servicing Agreement dated as of ______, 20__ (the "Agreement") among
the Seller, Wells Fargo Bank, N.A., as master servicer (the "Master Servicer")
and [TRUSTEE], as trustee (the "Trustee"), a summary of certain of the pertinent
provisions of which is set forth hereinafter. To the extent not defined herein,
the capitalized terms used herein have the meanings ascribed to such terms 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 Business Day of the month
preceding the month of such distribution, in an amount equal to the product of
the Percentage Interest evidenced by this Certificate and the Class A
Distribution Amount for the Class A-7 Certificates required to be distributed to
Holders of the Class A-7 Certificates on such Distribution Date, subject to
adjustment in certain events as specified in the Agreement. Distributions in
reduction of the Principal Balance of certain Classes of Class A Certificates
may not commence on the first Distribution Date specified above. Distributions
of principal will be allocated among the Classes of Class A Certificates in
accordance with the provisions of the Agreement. The pass-through rate on the
Class A-7 Certificates applicable to each Distribution Date will be a per annum
rate equal to the weighted average of the Net Mortgage Interest Rates of the
Mortgage Loans (based on the Scheduled Principal Balances of the Mortgage Loans
on the first day of the month preceding the month of such Distribution Date).
The amount of interest which accrues on this Certificate in any month will be
subject to reduction with respect to any Non-Supported Interest Shortfall, any
Relief Act Shortfall and the interest portion of certain Realized Losses
allocated to the Class A-7 Certificates, as described in the Agreement.

     Distributions on this Certificate will be made on behalf of the Trustee
either by the Master Servicer or by a Paying Agent appointed by the Master
Servicer by check mailed to the address of the Person entitled thereto, as such
name and address shall appear on the Certificate Register, unless such Person is
entitled to receive payments by wire transfer in immediately available funds in
accordance with the Agreement and such Person has notified the Master Servicer
pursuant to the Agreement that such payments are to be made by wire transfer of
immediately available funds. Notwithstanding the above, the final distribution
in reduction of the Principal Balance of 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 specified by the Trustee
for that purpose in the notice of final distribution.

                                      A-7-2

<PAGE>

     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.

     This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

     Unless this Certificate has been countersigned by an authorized officer of
the Trustee, by manual signature, this Certificate shall not be entitled to any
benefit under the Agreement or be valid for any purpose.

                                      A-7-3

<PAGE>

     IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
executed as of the date set forth below.

Dated:

                                                 [TRUSTEE],
                                                    Trustee

                                                 By____________________________
                                                       Authorized Officer

Countersigned:

[TRUSTEE],
  Trustee

By ________________________
   Authorized Officer

                                      A-7-4

<PAGE>

                                   EXHIBIT A-8
                     [FORM OF FACE OF CLASS A-8 CERTIFICATE]

  [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
    DEPOSITORY TRUST COMPANY TO THE SELLER OR ITS AGENT FOR REGISTRATION OF
 TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
       NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE &
 CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
  ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                               INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 200_-_, CLASS A-8

                 evidencing an interest in a pool of adjustable
                    interest rate, conventional, monthly pay,
                      fully amortizing, first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
                (Not an interest in or obligation of the Seller)

     THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST IN, THE
SELLER, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES, AND IS NOT
INSURED OR GUARANTEED BY THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR ANY OF
THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE INSURER.

     DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS CERTIFICATE
WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY, THE
OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN
THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                   Cut-Off Date:  _____, 20__

CUSIP No.:                        First Distribution Date:  _______, 20__

                                  Denomination:  $

Percentage Interest evidenced     Final Scheduled Maturity Date:  _______, 20__
by this Certificate: %

<PAGE>

     THIS CERTIFIES THAT ___________________________ is the registered owner of
the Percentage Interest evidenced by this Certificate in monthly distributions
to the Holders of the Class A-8 Certificates with respect to a Trust Estate
consisting of a pool of adjustable interest rate, conventional, monthly pay,
fully amortizing, first lien, one- to four-family residential mortgage loans
(the "Mortgage Loans"), formed by Wells Fargo Asset Securities Corporation
(hereinafter called the "Seller," which term includes any successor entity under
the Agreement referred to below). The Trust Estate was created pursuant to a
Pooling and Servicing Agreement dated as of ______, 20__ (the "Agreement") among
the Seller, Wells Fargo Bank, N.A., as master servicer (the "Master Servicer")
and [TRUSTEE], as trustee (the "Trustee"), a summary of certain of the pertinent
provisions of which is set forth hereinafter. To the extent not defined herein,
the capitalized terms used herein have the meanings ascribed to such terms 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 Business Day of the month
preceding the month of such distribution, in an amount equal to the product of
the Percentage Interest evidenced by this Certificate and the Class A
Distribution Amount for the Class A-8 Certificates required to be distributed to
Holders of the Class A-8 Certificates on such Distribution Date, subject to
adjustment in certain events as specified in the Agreement. Distributions in
reduction of the Principal Balance of certain Classes of Class A Certificates
may not commence on the first Distribution Date specified above. Distributions
of principal will be allocated among the Classes of Class A Certificates in
accordance with the provisions of the Agreement. The pass-through rate on the
Class A-8 Certificates applicable to each Distribution Date will be a per annum
rate equal to the weighted average of the Net Mortgage Interest Rates of the
Mortgage Loans (based on the Scheduled Principal Balances of the Mortgage Loans
on the first day of the month preceding the month of such Distribution Date).
The amount of interest which accrues on this Certificate in any month will be
subject to reduction with respect to any Non-Supported Interest Shortfall, any
Relief Act Shortfall and the interest portion of certain Realized Losses
allocated to the Class A-8 Certificates, as described in the Agreement.

     Distributions on this Certificate will be made on behalf of the Trustee
either by the Master Servicer or by a Paying Agent appointed by the Master
Servicer by check mailed to the address of the Person entitled thereto, as such
name and address shall appear on the Certificate Register, unless such Person is
entitled to receive payments by wire transfer in immediately available funds in
accordance with the Agreement and such Person has notified the Master Servicer
pursuant to the Agreement that such payments are to be made by wire transfer of
immediately available funds. Notwithstanding the above, the final distribution
in reduction of the Principal Balance of 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 specified by the Trustee
for that purpose in the notice of final distribution.

                                      A-8-2

<PAGE>

     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.

     This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

     Unless this Certificate has been countersigned by an authorized officer of
the Trustee, by manual signature, this Certificate shall not be entitled to any
benefit under the Agreement or be valid for any purpose.

                                      A-8-3

<PAGE>

     IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
executed as of the date set forth below.

Dated:

                                                 [TRUSTEE],
                                                    Trustee

                                                 By____________________________
                                                       Authorized Officer

Countersigned:
[TRUSTEE],

  Trustee

By ________________________
   Authorized Officer

                                      A-8-4

<PAGE>

                                   EXHIBIT A-9
                     [FORM OF FACE OF CLASS A-9 CERTIFICATE]

     [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE
         OF THE DEPOSITORY TRUST COMPANY TO THE SELLER OR ITS AGENT FOR
       REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE
      ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS
       REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
          COMPANY AND ANY PAYMENT IS MADE TO CEDE & CO., ANY TRANSFER,
    PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
         WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                               INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 200_-_, CLASS A-9

                 evidencing an interest in a pool of adjustable
                    interest rate, conventional, monthly pay,
                      fully amortizing, first lien, one- to
                 four-family residential mortgage loans sold by

                   WELLS FARGO ASSET SECURITIES CORPORATION
                (Not an interest in or obligation of the Seller)

     THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST IN, THE
SELLER, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES, AND IS NOT
INSURED OR GUARANTEED BY THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR ANY OF
THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE INSURER.

     DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS CERTIFICATE
WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY, THE
OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN
THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                    Cut-Off Date:  _____, 20__

CUSIP No.:                         First Distribution Date:  ________, 20__

                                   Denomination:  $

Percentage Interest evidenced      Final Scheduled Maturity Date:  _______, 20__
by this Certificate: %

<PAGE>

     THIS CERTIFIES THAT ___________________________ is the registered owner of
the Percentage Interest evidenced by this Certificate in monthly distributions
to the Holders of the Class A-9 Certificates with respect to a Trust Estate
consisting of a pool of adjustable interest rate, conventional, monthly pay,
fully amortizing, first lien, one- to four-family residential mortgage loans
(the "Mortgage Loans"), formed by Wells Fargo Asset Securities Corporation
(hereinafter called the "Seller," which term includes any successor entity under
the Agreement referred to below). The Trust Estate was created pursuant to a
Pooling and Servicing Agreement dated as of ______, 20__ (the "Agreement") among
the Seller, Wells Fargo Bank, N.A., as master servicer (the "Master Servicer")
and [TRUSTEE], as trustee (the "Trustee"), a summary of certain of the pertinent
provisions of which is set forth hereinafter. To the extent not defined herein,
the capitalized terms used herein have the meanings ascribed to such terms 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 Business Day of the month
preceding the month of such distribution, in an amount equal to the product of
the Percentage Interest evidenced by this Certificate and the Class A
Distribution Amount for the Class A-9 Certificates required to be distributed to
Holders of the Class A-9 Certificates on such Distribution Date, subject to
adjustment in certain events as specified in the Agreement. Distributions in
reduction of the Principal Balance of certain Classes of Class A Certificates
may not commence on the first Distribution Date specified above. Distributions
of principal will be allocated among the Classes of Class A Certificates in
accordance with the provisions of the Agreement. The pass-through rate on the
Class A-9 Certificates applicable to each Distribution Date will be a per annum
rate equal to the weighted average of the Net Mortgage Interest Rates of the
Mortgage Loans (based on the Scheduled Principal Balances of the Mortgage Loans
on the first day of the month preceding the month of such Distribution Date).
The amount of interest which accrues on this Certificate in any month will be
subject to reduction with respect to any Non-Supported Interest Shortfall, any
Relief Act Shortfall and the interest portion of certain Realized Losses
allocated to the Class A-9 Certificates, as described in the Agreement.

     Distributions on this Certificate will be made on behalf of the Trustee
either by the Master Servicer or by a Paying Agent appointed by the Master
Servicer by check mailed to the address of the Person entitled thereto, as such
name and address shall appear on the Certificate Register, unless such Person is
entitled to receive payments by wire transfer in immediately available funds in
accordance with the Agreement and such Person has notified the Master Servicer
pursuant to the Agreement that such payments are to be made by wire transfer of
immediately available funds. Notwithstanding the above, the final distribution
in reduction of the Principal Balance of 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 specified by the Trustee
for that purpose in the notice of final distribution.

                                      A-9-2

<PAGE>

     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.

     This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

     Unless this Certificate has been countersigned by an authorized officer of
the Trustee, by manual signature, this Certificate shall not be entitled to any
benefit under the Agreement or be valid for any purpose.

                                      A-9-3

<PAGE>

          IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
executed as of the date set forth below.

Dated:

                                          [TRUSTEE],
                                             Trustee

                                          By____________________________
                                              Authorized Officer

Countersigned:

[TRUSTEE],
  Trustee

By ________________________
   Authorized Officer

                                      A-9-4

<PAGE>

                                  EXHIBIT A-10
                    [FORM OF FACE OF CLASS A-10 CERTIFICATE]

      [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE
         OF THE DEPOSITORY TRUST COMPANY TO THE SELLER OR ITS AGENT FOR
       REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE
      ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS
       REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
      COMPANY AND ANY PAYMENT IS MADE TO CEDE & CO., ANY TRANSFER, PLEDGE
       OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
         WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                               INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 200_-_, CLASS A-10

                 evidencing an interest in a pool of adjustable
                    interest rate, conventional, monthly pay,
                      fully amortizing, first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
                (Not an interest in or obligation of the Seller)

          THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES, AND
IS NOT INSURED OR GUARANTEED BY THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR
ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE INSURER.

          DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                      Cut-Off Date: ____, 20__

CUSIP No.:                           First Distribution Date: ______, 20__

                                     Denomination:  $

Percentage Interest evidenced        Final Scheduled Maturity Date: ______, 20__
by this Certificate: %

<PAGE>

          THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-10 Certificates with respect to a
Trust Estate consisting of a pool of adjustable interest rate, conventional,
monthly pay, fully amortizing, first lien, one- to four-family residential
mortgage loans (the "Mortgage Loans"), formed by Wells Fargo Asset Securities
Corporation (hereinafter called the "Seller," which term includes any successor
entity under the Agreement referred to below). The Trust Estate was created
pursuant to a Pooling and Servicing Agreement dated as of ______, 20__ (the
"Agreement") among the Seller, Wells Fargo Bank, N.A., as master servicer (the
"Master Servicer") and [TRUSTEE], as trustee (the "Trustee"), a summary of
certain of the pertinent provisions of which is set forth hereinafter. To the
extent not defined herein, the capitalized terms used herein have the meanings
ascribed to such terms 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 Business Day of
the month preceding the month of such distribution, in an amount equal to the
product of the Percentage Interest evidenced by this Certificate and the Class A
Distribution Amount for the Class A-10 Certificates required to be distributed
to Holders of the Class A-10 Certificates on such Distribution Date, subject to
adjustment in certain events as specified in the Agreement. Distributions in
reduction of the Principal Balance of certain Classes of Class A Certificates
may not commence on the first Distribution Date specified above. Distributions
of principal will be allocated among the Classes of Class A Certificates in
accordance with the provisions of the Agreement. The pass-through rate on the
Class A-10 Certificates applicable to each Distribution Date will be a per annum
rate equal to the weighted average of the Net Mortgage Interest Rates of the
Mortgage Loans (based on the Scheduled Principal Balances of the Mortgage Loans
on the first day of the month preceding the month of such Distribution Date).
The amount of interest which accrues on this Certificate in any month will be
subject to reduction with respect to any Non-Supported Interest Shortfall, any
Relief Act Shortfall and the interest portion of certain Realized Losses
allocated to the Class A-10 Certificates, as described in the Agreement.

          Distributions on this Certificate will be made on behalf of the
Trustee either by the Master Servicer or by a Paying Agent appointed by the
Master Servicer by check mailed to the address of the Person entitled thereto,
as such name and address shall appear on the Certificate Register, unless such
Person is entitled to receive payments by wire transfer in immediately available
funds in accordance with the Agreement and such Person has notified the Master
Servicer pursuant to the Agreement that such payments are to be made by wire
transfer of immediately available funds. Notwithstanding the above, the final
distribution in reduction of the Principal Balance of 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 specified
by the Trustee for that purpose in the notice of final distribution.

                                     A-10-2

<PAGE>

          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.

          This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

          Unless this Certificate has been countersigned by an authorized
officer of the Trustee, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

                                     A-10-3

<PAGE>

     IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
executed as of the date set forth below.

Dated:

                                               [TRUSTEE],
                                                 Trustee

                                               By____________________________
                                                     Authorized Officer

Countersigned:

[TRUSTEE],
  Trustee

By ________________________
   Authorized Officer

                                     A-10-4

<PAGE>

                                  EXHIBIT A-11

                    [FORM OF FACE OF CLASS A-11 CERTIFICATE]

    [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF
   THE DEPOSITORY TRUST COMPANY TO THE SELLER OR ITS AGENT FOR REGISTRATION OF
     TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED
   IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
    REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO
   CEDE & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE
    BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE &
                          CO., HAS AN INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 200_-_, CLASS A-11

                 evidencing an interest in a pool of adjustable
                    interest rate, conventional, monthly pay,
                      fully amortizing, first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
                (Not an interest in or obligation of the Seller)

     AFTER THE SUBORDINATION DEPLETION DATE, THE PRINCIPAL PORTION OF REALIZED
LOSSES ALLOCATED TO THE CLASS A-6 AND CLASS A-7 CERTIFICATES WILL BE BORNE BY
THE CLASS A-11 CERTIFICATES AS DESCRIBED IN THE AGREEMENT.

     THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST IN, THE
SELLER, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES, AND IS NOT
INSURED OR GUARANTEED BY THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR ANY OF
THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE INSURER.

     DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS CERTIFICATE
WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY, THE
OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN
THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                    Cut-Off Date:  _____, 20__

CUSIP No.:                         First Distribution Date:  _______, 20__

                                   Denomination:  $

Percentage Interest evidenced      Final Scheduled Maturity Date:  _______, 20__
by this Certificate: %

                                     A-11-2

<PAGE>

     THIS CERTIFIES THAT ___________________________ is the registered owner of
the Percentage Interest evidenced by this Certificate in monthly distributions
to the Holders of the Class A-11 Certificates with respect to a Trust Estate
consisting of a pool of adjustable interest rate, conventional, monthly pay,
fully amortizing, first lien, one- to four-family residential mortgage loans
(the "Mortgage Loans"), formed by Wells Fargo Asset Securities Corporation
(hereinafter called the "Seller," which term includes any successor entity under
the Agreement referred to below). The Trust Estate was created pursuant to a
Pooling and Servicing Agreement dated as of ______, 20__ (the "Agreement") among
the Seller, Wells Fargo Bank, N.A., as master servicer (the "Master Servicer")
and [TRUSTEE], as trustee (the "Trustee"), a summary of certain of the pertinent
provisions of which is set forth hereinafter. To the extent not defined herein,
the capitalized terms used herein have the meanings ascribed to such terms 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 Business Day of the month
preceding the month of such distribution, in an amount equal to the product of
the Percentage Interest evidenced by this Certificate and the Class A
Distribution Amount for the Class A-11 Certificates required to be distributed
to Holders of the Class A-11 Certificates on such Distribution Date, subject to
adjustment in certain events as specified in the Agreement. Distributions in
reduction of the Principal Balance of certain Classes of Class A Certificates
may not commence on the first Distribution Date specified above. Distributions
of principal will be allocated among the Classes of Class A Certificates in
accordance with the provisions of the Agreement. The pass-through rate on the
Class A-11 Certificates applicable to each Distribution Date will be a per annum
rate equal to the weighted average of the Net Mortgage Interest Rates of the
Mortgage Loans (based on the Scheduled Principal Balances of the Mortgage Loans
on the first day of the month preceding the month of such Distribution Date).
The amount of interest which accrues on this Certificate in any month will be
subject to reduction with respect to any Non-Supported Interest Shortfall, any
Relief Act Shortfall and the interest portion of certain Realized Losses
allocated to the Class A-11 Certificates, as described in the Agreement.

     Distributions on this Certificate will be made on behalf of the Trustee
either by the Master Servicer or by a Paying Agent appointed by the Master
Servicer by check mailed to the address of the Person entitled thereto, as such
name and address shall appear on the Certificate Register, unless such Person is
entitled to receive payments by wire transfer in immediately available funds in
accordance with the Agreement and such Person has notified the Master Servicer
pursuant to the Agreement that such payments are to be made by wire transfer of
immediately available funds. Notwithstanding the above, the final distribution
in reduction of the Principal Balance of 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 specified by the Trustee
for that purpose in the notice of final distribution.

                                     A-11-3

<PAGE>

     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.

     This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

     Unless this Certificate has been countersigned by an authorized officer of
the Trustee, by manual signature, this Certificate shall not be entitled to any
benefit under the Agreement or be valid for any purpose.

                                     A-11-4

<PAGE>

     IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
executed as of the date set forth below.

Dated:

                                              [TRUSTEE],
                                                Trustee

                                              By____________________________
                                                    Authorized Officer

Countersigned:

[TRUSTEE],
  Trustee

By ________________________
   Authorized Officer

                                     A-11-5

<PAGE>

                                   EXHIBIT A-R
                     [Form of Face of Class A-R Certificate]

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(a)(2) AND 860D OF THE INTERNAL REVENUE CODE OF
1986, AS AMENDED (THE "CODE"). A TRANSFEREE OF THIS CERTIFICATE, BY ACCEPTANCE
HEREOF, IS DEEMED TO HAVE ACCEPTED THIS CERTIFICATE SUBJECT TO CERTAIN
RESTRICTIONS ON TRANSFERABILITY, AS SET FORTH IN SECTION 5.02(d) OF THE
AGREEMENT, AND SHALL BE REQUIRED TO FURNISH AN AFFIDAVIT TO THE TRANSFEROR AND
THE TRUSTEE TO THE EFFECT THAT, AMONG OTHER THINGS, IT IS NOT A DISQUALIFIED
ORGANIZATION, AS SUCH TERM IS DEFINED IN CODE SECTION 860E(e)(5), AN AGENT
(INCLUDING A BROKER, NOMINEE OR OTHER MIDDLEMAN) FOR A DISQUALIFIED ORGANIZATION
OR A NON-PERMITTED FOREIGN HOLDER, AS DEFINED IN SECTION 5.02(d) OF THE
AGREEMENT AND TO HAVE AGREED TO SUCH AMENDMENTS TO THE AGREEMENT AS MAY BE
REQUIRED TO FURTHER EFFECTUATE THE RESTRICTIONS ON TRANSFERS TO DISQUALIFIED
ORGANIZATIONS, AGENTS THEREOF OR NON-PERMITTED FOREIGN HOLDERS.

THE HOLDER OF THIS CLASS A-R CERTIFICATE, BY ACCEPTANCE HEREOF, IS DEEMED TO
HAVE AGREED TO THE DESIGNATION OF THE MASTER SERVICER AS ITS AGENT TO ACT AS
"TAX MATTERS PERSON" OF THE REMIC TO PERFORM THE FUNCTIONS OF A "TAX MATTERS
PARTNER" FOR PURPOSES OF SUBCHAPTER C OF CHAPTER 63 OF SUBTITLE F OF THE CODE,
OR, IF SO REQUESTED BY THE MASTER SERVICER, TO ACT AS TAX MATTERS PERSON OF THE
REMIC.

THIS CERTIFICATE MAY NOT BE PURCHASED BY OR TRANSFERRED TO ANY PERSON WHICH IS
AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT ARRANGEMENT SUBJECT TO TITLE I OF
THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED ("ERISA"), OR
SECTION 4975 OF THE CODE OR A GOVERNMENTAL PLAN, AS DEFINED IN SECTION 3(32) OF
ERISA SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW WHICH IS, TO A MATERIAL EXTENT,
SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE (COLLECTIVELY, A
"PLAN"), OR ANY PERSON ACTING ON BEHALF OF OR INVESTING THE ASSETS OF A PLAN.

<PAGE>

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 200_-_, CLASS A-R

                 evidencing an interest in a pool of adjustable
                    interest rate, conventional, monthly pay,
                      fully amortizing, first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
                (Not an interest in or obligation of the Seller)

     THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST IN, THE
SELLER, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES, AND IS NOT
INSURED OR GUARANTEED BY THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR ANY OF
THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE INSURER.

     DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS CERTIFICATE
WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY, THE
OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN
THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                   Cut-Off Date:  _____, 20__

CUSIP No.:                        First Distribution Date:  _______, 20__

                                  Denomination:  $

Percentage Interest evidenced     Final Scheduled Maturity Date:  _______, 20__
by this Certificate: %

                                      A-R-2

<PAGE>

     THIS CERTIFIES THAT __________________________ is the registered owner of
the Percentage Interest evidenced by this Certificate in monthly distributions
to the Holder of the Class A-R Certificate with respect to a Trust Estate
consisting of a pool of adjustable interest rate, conventional, monthly pay,
fully amortizing, first lien, one- to four-family residential mortgage loans
(the "Mortgage Loans"), formed by Wells Fargo Asset Securities Corporation
(hereinafter called the "Seller," which term includes any successor entity under
the Agreement referred to below). The Trust Estate was created pursuant to a
Pooling and Servicing Agreement dated as of ______, 20__ (the "Agreement") among
the Seller, Wells Fargo Bank, N.A., as master servicer (the "Master Servicer")
and [TRUSTEE], as trustee (the "Trustee"), a summary of certain of the pertinent
provisions of which is set forth hereinafter. To the extent not defined herein,
the capitalized terms used herein have the meanings ascribed to such terms 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 Business Day of the month
preceding the month of such distribution, in an amount equal to the product of
the Percentage Interest evidenced by this Certificate and the Class A
Distribution Amount for the Class A-R Certificate required to be distributed to
the Holder of the Class A-R Certificate on such Distribution Date, subject to
adjustment in certain events as specified in the Agreement. Distributions in
reduction of the Principal Balance of certain Classes of Class A Certificates
may not commence on the first Distribution Date specified above. Distributions
of principal will be allocated among the Classes of Class A Certificates in
accordance with the provisions of the Agreement. The pass-through rate on the
Class A-R Certificate applicable to each Distribution Date will be a per annum
rate equal to the weighted average of the Net Mortgage Interest Rates of the
Mortgage Loans (based on the Scheduled Principal Balances of the Mortgage Loans
on the first day of the month preceding the month of such Distribution Date).
The amount of interest which accrues on this Certificate in any month will be
subject to reduction with respect to any Non-Supported Interest Shortfall, any
Relief Act Shortfall and the interest portion of certain Realized Losses
allocated to the Class A-R Certificate, as described in the Agreement.

     Distributions on this Certificate will be made on behalf of the Trustee
either by the Master Servicer or by a Paying Agent appointed by the Master
Servicer 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 specified by the Trustee for that
purpose in the notice of final distribution.

     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.

                                      A-R-3

<PAGE>

     Unless this Certificate has been countersigned by an authorized officer of
the Trustee, by manual signature, this Certificate shall not be entitled to any
benefit under the Agreement or be valid for any purpose.

                                      A-R-4

<PAGE>

     IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
executed as of the date set forth below.

Dated:

                                                 [TRUSTEE],
                                                   Trustee

                                                 By____________________________
                                                       Authorized Officer

Countersigned:

[TRUSTEE],
  Trustee
By ________________________
   Authorized Officer

                                      A-R-5

<PAGE>

                                   EXHIBIT B-1
                     [FORM OF FACE OF CLASS B-1 CERTIFICATE]

THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF PAYMENT TO THE CLASS A CERTIFICATES
AS DESCRIBED IN THE AGREEMENT REFERRED TO HEREIN.

[UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY TO THE SELLER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE &
CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 200_-_, CLASS B-1

  evidencing an interest in a pool of adjustable interest rate, conventional,
   monthly pay, fully amortizing, first lien, one- to four-family residential
                             mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
                (Not an interest in or obligation of the Seller)

     THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST IN, THE
SELLER, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES, AND IS NOT
INSURED OR GUARANTEED BY THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR ANY OF
THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE INSURER.

     DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS CERTIFICATE
WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY, THE
OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN
THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                    Cut-Off Date:  _____, 20__

CUSIP No.:                         First Distribution Date:  _______, 20__

                                   Denomination:  $

Percentage Interest evidenced      Final Scheduled Maturity Date:  _______, 20__
by this Certificate: %

<PAGE>

     THIS CERTIFIES THAT ____________________________ is the registered owner of
the Percentage Interest evidenced by this Certificate in monthly distributions
to the Holders of the Class B-1 Certificates with respect to a Trust Estate
consisting of a pool of adjustable interest rate, conventional, monthly pay,
fully amortizing, first lien, one- to four-family residential mortgage loans
(the "Mortgage Loans") formed by Wells Fargo Asset Securities Corporation
(hereinafter called the "Seller," which term includes any successor entity under
the Agreement referred to below). The Trust Estate was created pursuant to a
Pooling and Servicing Agreement dated as of ______, 20__ (the "Agreement") among
the Seller, Wells Fargo Bank, N.A., as master servicer (the "Master Servicer")
and [TRUSTEE], as trustee (the "Trustee"), a summary of certain of the pertinent
provisions of which is set forth hereinafter. To the extent not defined herein,
the capitalized terms used herein have the meanings ascribed to such terms 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 Business Day of the month
preceding the month of such distribution, in an amount equal to the product of
the Percentage Interest evidenced by this Certificate and, subject to the prior
rights of the Class A Certificates as specified in the Agreement, any Class B-1
Distribution Amount required to be distributed to Holders of the Class B-1
Certificates on such Distribution Date, subject to adjustment, in certain
events, as specified in the Agreement. The pass-through rate on the Class B-1
Certificates applicable to each Distribution Date will be a per annum rate equal
to the weighted average of the Net Mortgage Interest Rates of the Mortgage Loans
(based on the Scheduled Principal Balances of the Mortgage Loans on the first
day of the month preceding the month of such Distribution Date). The amount of
interest which accrues on this Certificate in any month will be subject to
reduction with respect to any Non-Supported Interest Shortfall and any Relief
Act Shortfall allocated to the Class B-1 Certificates, as described in the
Agreement.

     Distributions on this Certificate will be made on behalf of the Trustee
either by the Master Servicer or by a Paying Agent appointed by the Master
Servicer by check mailed to the address of the Person entitled thereto, as such
name and address shall appear on the Certificate Register, unless such Person is
entitled to receive payments by wire transfer in immediately available funds in
accordance with the Agreement and such Person has notified the Master Servicer
pursuant to the Agreement that such payments are to be made by wire transfer of
immediately available funds. Notwithstanding the above, the final distribution
in reduction of the Principal Balance of 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 specified by the Trustee
for that purpose in the notice of final distribution.

     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.

                                      B-1-2

<PAGE>

     This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

     Unless this Certificate has been countersigned by an authorized officer of
the Trustee, by manual signature, this Certificate shall not be entitled to any
benefit under the Agreement or be valid for any purpose.

                                      B-1-3

<PAGE>

     IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
executed as of the date set forth below.

Dated:

                                               [TRUSTEE],
                                                     Trustee

                                               By____________________________
                                                     Authorized Officer

Countersigned:

[TRUSTEE],
  Trustee

By ________________________
   Authorized Officer

                                      B-1-4

<PAGE>

                                   EXHIBIT B-2
                     [FORM OF FACE OF CLASS B-2 CERTIFICATE]

THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF PAYMENT TO THE CLASS A CERTIFICATES
AND THE CLASS B-1 CERTIFICATES AS DESCRIBED IN THE AGREEMENT REFERRED TO HEREIN.

[UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY TO THE SELLER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE &
CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 200_-_, CLASS B-2

  evidencing an interest in a pool of adjustable interest rate, conventional,
   monthly pay, fully amortizing, first lien, one- to four-family residential
                             mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
                (Not an interest in or obligation of the Seller)

     THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST IN, THE
SELLER, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES, AND IS NOT
INSURED OR GUARANTEED BY THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR ANY OF
THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE INSURER.

     DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS CERTIFICATE
WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY, THE
OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN
THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                  Cut-Off Date:  _____, 20__

CUSIP No.:                       First Distribution Date:  _______, 20__

                                 Denomination:  $

Percentage Interest evidenced    Final Scheduled Maturity Date:  _______, 20__
by this Certificate: %

<PAGE>

     THIS CERTIFIES THAT ____________________________ is the registered owner of
the Percentage Interest evidenced by this Certificate in monthly distributions
to the Holders of the Class B-2 Certificates with respect to a Trust Estate
consisting of a pool of adjustable interest rate, conventional, monthly pay,
fully amortizing, first lien, one- to four-family residential mortgage loans
(the "Mortgage Loans") formed by Wells Fargo Asset Securities Corporation
(hereinafter called the "Seller," which term includes any successor entity under
the Agreement referred to below). The Trust Estate was created pursuant to a
Pooling and Servicing Agreement dated as of ______, 20__ (the "Agreement") among
the Seller, Wells Fargo Bank, N.A., as master servicer (the "Master Servicer")
and [TRUSTEE], as trustee (the "Trustee"), a summary of certain of the pertinent
provisions of which is set forth hereinafter. To the extent not defined herein,
the capitalized terms used herein have the meanings ascribed to such terms 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 Business Day of the month
preceding the month of such distribution, in an amount equal to the product of
the Percentage Interest evidenced by this Certificate and, subject to the prior
rights of the Class A Certificates and each Class of Class B Certificates
bearing a lower numerical designation as specified in the Agreement, any Class
B-2 Distribution Amount required to be distributed to Holders of the Class B-2
Certificates on such Distribution Date, subject to adjustment, in certain
events, as specified in the Agreement. The pass-through rate on the Class B-2
Certificates applicable to each Distribution Date will be a per annum rate equal
to the weighted average of the Net Mortgage Interest Rates of the Mortgage Loans
(based on the Scheduled Principal Balances of the Mortgage Loans on the first
day of the month preceding the month of such Distribution Date). The amount of
interest which accrues on this Certificate in any month will be subject to
reduction with respect to any Non-Supported Interest Shortfall and any Relief
Act Shortfall allocated to the Class B-2 Certificates, as described in the
Agreement.

     Distributions on this Certificate will be made on behalf of the Trustee
either by the Master Servicer or by a Paying Agent appointed by the Master
Servicer by check mailed to the address of the Person entitled thereto, as such
name and address shall appear on the Certificate Register, unless such Person is
entitled to receive payments by wire transfer in immediately available funds in
accordance with the Agreement and such Person has notified the Master Servicer
pursuant to the Agreement that such payments are to be made by wire transfer of
immediately available funds. Notwithstanding the above, the final distribution
in reduction of the Principal Balance of 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 specified by the Trustee
for that purpose in the notice of final distribution.

     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.

                                      B-2-2

<PAGE>

     This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

     Unless this Certificate has been countersigned by an authorized officer of
the Trustee, by manual signature, this Certificate shall not be entitled to any
benefit under the Agreement or be valid for any purpose.

                                      B-2-3

<PAGE>

     IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
executed as of the date set forth below.

Dated:

                                        [TRUSTEE],
                                              Trustee

                                        By____________________________
                                              Authorized Officer

Countersigned:

[TRUSTEE],
  Trustee

By ________________________
   Authorized Officer

                                      B-2-4

<PAGE>

                                   EXHIBIT B-3

                     [FORM OF FACE OF CLASS B-3 CERTIFICATE]

THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF PAYMENT TO THE CLASS A
CERTIFICATES, THE CLASS B-1 CERTIFICATES AND THE CLASS B-2 CERTIFICATES AS
DESCRIBED IN THE AGREEMENT REFERRED TO HEREIN.

[UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY TO THE SELLER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE &
CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 200_-_, CLASS B-3

   evidencing an interest in a pool of adjustable interest rate, conventional,
         monthly pay, fully amortizing, first lien, one- to four-family
                       residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
                (Not an interest in or obligation of the Seller)

     THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST IN, THE
SELLER, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES, AND IS NOT
INSURED OR GUARANTEED BY THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR ANY OF
THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE INSURER.

     DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS CERTIFICATE
WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY, THE
OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN
THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                     Cut-Off Date: ____, 20__

CUSIP No.:                          First Distribution Date: ______, 20__

                                    Denomination: $

Percentage Interest evidenced       Final Scheduled Maturity Date: ______, 20__
by this Certificate: %

<PAGE>

     THIS CERTIFIES THAT _______________________________ is the registered owner
of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class B-3 Certificates with respect to a
Trust Estate consisting of a pool of adjustable interest rate, conventional,
monthly pay, fully amortizing, first lien, one- to four-family residential
mortgage loans (the "Mortgage Loans") formed by Wells Fargo Asset Securities
Corporation (hereinafter called the "Seller," which term includes any successor
entity under the Agreement referred to below). The Trust Estate was created
pursuant to a Pooling and Servicing Agreement dated as of ______, 20__ (the
"Agreement") among the Seller, Wells Fargo Bank, N.A., as master servicer (the
"Master Servicer") and [TRUSTEE], as trustee (the "Trustee"), a summary of
certain of the pertinent provisions of which is set forth hereinafter. To the
extent not defined herein, the capitalized terms used herein have the meanings
ascribed to such terms 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 Business Day of the month
preceding the month of such distribution, in an amount equal to the product of
the Percentage Interest evidenced by this Certificate and, subject to the prior
rights of the Class A Certificates and each Class of Class B Certificates
bearing a lower numerical designation as specified in the Agreement, any Class
B-3 Distribution Amount required to be distributed to Holders of the Class B-3
Certificates on such Distribution Date, subject to adjustment, in certain
events, as specified in the Agreement. The pass-through rate on the Class B-3
Certificates applicable to each Distribution Date will be a per annum rate equal
to the weighted average of the Net Mortgage Interest Rates of the Mortgage Loans
(based on the Scheduled Principal Balances of the Mortgage Loans on the first
day of the month preceding the month of such Distribution Date). The amount of
interest which accrues on this Certificate in any month will be subject to
reduction with respect to any Non-Supported Interest Shortfall and any Relief
Act Shortfall allocated to the Class B-3 Certificates, as described in the
Agreement.

     Distributions on this Certificate will be made on behalf of the Trustee
either by the Master Servicer or by a Paying Agent appointed by the Master
Servicer by check mailed to the address of the Person entitled thereto, as such
name and address shall appear on the Certificate Register, unless such Person is
entitled to receive payments by wire transfer in immediately available funds in
accordance with the Agreement and such Person has notified the Master Servicer
pursuant to the Agreement that such payments are to be made by wire transfer of
immediately available funds. Notwithstanding the above, the final distribution
in reduction of the Principal Balance of 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 specified by the Trustee
for that purpose in the notice of final distribution.

     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.

                                      B-3-2

<PAGE>

     This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

     Unless this Certificate has been countersigned by an authorized officer of
the Trustee, by manual signature, this Certificate shall not be entitled to any
benefit under the Agreement or be valid for any purpose.

                                      B-3-3

<PAGE>

     IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
executed as of the date set forth below.

Dated:

                                        [TRUSTEE],
                                              Trustee

                                        By____________________________
                                              Authorized Officer

Countersigned:

[TRUSTEE],
  Trustee

By ________________________
   Authorized Officer

                                      B-3-4

<PAGE>

                                   EXHIBIT B-4
                     [FORM OF FACE OF CLASS B-4 CERTIFICATE]

THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF PAYMENT TO THE CLASS A
CERTIFICATES, THE CLASS B-1 CERTIFICATES, THE CLASS B-2 CERTIFICATES AND THE
CLASS B-3 CERTIFICATES AS DESCRIBED IN THE AGREEMENT REFERRED TO 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 REFERRED TO HEREIN.

EXCEPT AS PROVIDED IN SECTION 5.02(C) OF THE AGREEMENT REFERRED TO HEREIN, THIS
CERTIFICATE MAY NOT BE PURCHASED BY OR TRANSFERRED TO ANY PERSON THAT HAS NOT
DELIVERED A REPRESENTATION LETTER STATING EITHER (A) THAT THE TRANSFEREE IS NOT
AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT ARRANGEMENT SUBJECT TO TITLE I 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 A
GOVERNMENTAL PLAN, AS DEFINED IN SECTION 3(32) OF ERISA, SUBJECT TO ANY FEDERAL,
STATE OR LOCAL LAW WHICH IS, TO A MATERIAL EXTENT, SIMILAR TO THE FOREGOING
PROVISIONS OF ERISA OR THE CODE (COLLECTIVELY, A "PLAN"), AND IS NOT ACTING ON
BEHALF OF OR INVESTING THE ASSETS OF A PLAN OR (B) SUBJECT TO CERTAIN CONDITIONS
SET FORTH IN THE AGREEMENT, THAT THE SOURCE OF FUNDS USED TO PURCHASE THIS
CERTIFICATE IS AN "INSURANCE COMPANY GENERAL ACCOUNT."

<PAGE>

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 200_-_, CLASS B-4

   evidencing an interest in a pool of adjustable interest rate, conventional,
         monthly pay, fully amortizing, first lien, one- to four-family
                       residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
                (Not an interest in or obligation of the Seller)

     THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST IN, THE
SELLER, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES, AND IS NOT
INSURED OR GUARANTEED BY THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR ANY OF
THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE INSURER.

     DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS CERTIFICATE
WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY, THE
OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN
THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                    Cut-Off Date:  _____, 20__

CUSIP No.:                         First Distribution Date:  _______, 20__

                                   Denomination:  $

Percentage Interest evidenced      Final Scheduled Maturity Date:  _______, 20__
by this Certificate: %

                                      B-4-2

<PAGE>

     THIS CERTIFIES THAT ____________________________ is the registered owner of
the Percentage Interest evidenced by this Certificate in monthly distributions
to the Holders of the Class B-4 Certificates with respect to a Trust Estate
consisting of a pool of adjustable interest rate, conventional, monthly pay,
fully amortizing, first lien, one- to four-family residential mortgage loans
(the "Mortgage Loans") formed by Wells Fargo Asset Securities Corporation
(hereinafter called the "Seller," which term includes any successor entity under
the Agreement referred to below). The Trust Estate was created pursuant to a
Pooling and Servicing Agreement dated as of ______, 20__ (the "Agreement") among
the Seller, Wells Fargo Bank, N.A., as master servicer (the "Master Servicer")
and [TRUSTEE], as trustee (the "Trustee"), a summary of certain of the pertinent
provisions of which is set forth hereinafter. To the extent not defined herein,
the capitalized terms used herein have the meanings ascribed to such terms 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 Business Day of the month
preceding the month of such distribution, in an amount equal to the product of
the Percentage Interest evidenced by this Certificate and, subject to the prior
rights of the Class A Certificates and each Class of Class B Certificates
bearing a lower numerical designation as specified in the Agreement, any Class
B-4 Distribution Amount required to be distributed to Holders of the Class B-4
Certificates on such Distribution Date, subject to adjustment, in certain
events, as specified in the Agreement. The pass-through rate on the Class B-4
Certificates applicable to each Distribution Date will be a per annum rate equal
to the weighted average of the Net Mortgage Interest Rates of the Mortgage Loans
(based on the Scheduled Principal Balances of the Mortgage Loans on the first
day of the month preceding the month of such Distribution Date). The amount of
interest which accrues on this Certificate in any month will be subject to
reduction with respect to any Non-Supported Interest Shortfall and any Relief
Act Shortfall allocated to the Class B-4 Certificates, as described in the
Agreement.

     Distributions on this Certificate will be made on behalf of the Trustee
either by the Master Servicer or by a Paying Agent appointed by the Master
Servicer by check mailed to the address of the Person entitled thereto, as such
name and address shall appear on the Certificate Register, unless such Person is
entitled to receive payments by wire transfer in immediately available funds in
accordance with the Agreement and such Person has notified the Master Servicer
pursuant to the Agreement that such payments are to be made by wire transfer of
immediately available funds. Notwithstanding the above, the final distribution
in reduction of the Principal Balance of 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 specified by the Trustee
for that purpose in the notice of final distribution.

     No transfer of a Class B-4 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 desired to be made by
the Holder hereof, (i) the transferee will be required to execute an

                                      B-4-3

<PAGE>

investment letter in the form described in the Agreement and (ii) if such
transfer is to be made within three years from the later of (a) the date of
initial issuance of the Certificates or (b) the last date on which the Seller or
any affiliate thereof was a Holder of the Certificates proposed to be
transferred, and unless such transfer is made in reliance on Rule 144A of the
Securities Act of 1933, as amended, the Trustee or the Seller may require the
Holder to deliver an opinion of counsel acceptable to and in form and substance
satisfactory to the Trustee and the Seller 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. The Holder hereof desiring
to effect such transfer shall, and does hereby agree to, indemnify the Trustee,
the Seller, the Master Servicer, and any Paying Agent 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 in the Agreement, stating either (a) that the
transferee is not a Plan and is not acting on behalf of a Plan or using the
assets of a Plan to effect such purchase or (b) subject to certain conditions
described in the Agreement, that the source of funds used to purchase this
Certificate is an "insurance company general account," or (ii) if such
transferee is a Plan, (a) an opinion of counsel acceptable to and in form and
substance satisfactory to the Trustee and the Seller with respect to certain
matters and (b) such other documentation as the Seller or the Master Servicer
may require, as described in the Agreement.

          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.

          This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

          Unless this Certificate has been countersigned by an authorized
officer of the Trustee, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

                                      B-4-4

<PAGE>

     IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
executed as of the date set forth below.

Dated:

                                        [TRUSTEE],
                                              Trustee

                                        By____________________________
                                              Authorized Officer

Countersigned:

[TRUSTEE],
  Trustee

By ________________________
   Authorized Officer

                                      B-4-5

<PAGE>

                                   EXHIBIT B-5
                     [FORM OF FACE OF CLASS B-5 CERTIFICATE]

THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF PAYMENT TO THE CLASS A
CERTIFICATES, THE CLASS B-1 CERTIFICATES, THE CLASS B-2 CERTIFICATES, THE CLASS
B-3 CERTIFICATES AND THE CLASS B-4 CERTIFICATES AS DESCRIBED IN THE AGREEMENT
REFERRED TO 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 REFERRED TO HEREIN.

EXCEPT AS PROVIDED IN SECTION 5.02(C) OF THE AGREEMENT REFERRED TO HEREIN, THIS
CERTIFICATE MAY NOT BE PURCHASED BY OR TRANSFERRED TO ANY PERSON THAT HAS NOT
DELIVERED A REPRESENTATION LETTER STATING EITHER (A) THAT THE TRANSFEREE IS NOT
AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT ARRANGEMENT SUBJECT TO TITLE I 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 A
GOVERNMENTAL PLAN, AS DEFINED IN SECTION 3(32) OF ERISA, SUBJECT TO ANY FEDERAL,
STATE OR LOCAL LAW WHICH IS, TO A MATERIAL EXTENT, SIMILAR TO THE FOREGOING
PROVISIONS OF ERISA OR THE CODE (COLLECTIVELY, A "PLAN"), AND IS NOT ACTING ON
BEHALF OF OR INVESTING THE ASSETS OF A PLAN OR (B) SUBJECT TO CERTAIN CONDITIONS
SET FORTH IN THE AGREEMENT, THAT THE SOURCE OF FUNDS USED TO PURCHASE THIS
CERTIFICATE IS AN "INSURANCE COMPANY GENERAL ACCOUNT."

<PAGE>

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 200_-_, CLASS B-5

   evidencing an interest in a pool of adjustable interest rate, conventional,
   monthly pay, fully amortizing, first lien, one- to four-family residential
                             mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
                (Not an interest in or obligation of the Seller)

     THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST IN, THE
SELLER, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES, AND IS NOT
INSURED OR GUARANTEED BY THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR ANY OF
THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE INSURER.

     DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS CERTIFICATE
WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY, THE
OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN
THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                   Cut-Off Date:  ______, 20__

CUSIP No.:                        First Distribution Date:  _______, 20__

                                  Denomination:  $

Percentage Interest evidenced     Final Scheduled Maturity Date:  _______, 20__
by this Certificate: %

                                      B-5-2

<PAGE>

          THIS CERTIFIES THAT ____________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class B-5 Certificates with respect to a
Trust Estate consisting of a pool of adjustable interest rate, conventional,
monthly pay, fully amortizing, first lien, one- to four-family residential
mortgage loans (the "Mortgage Loans") formed by Wells Fargo Asset Securities
Corporation (hereinafter called the "Seller," which term includes any successor
entity under the Agreement referred to below). The Trust Estate was created
pursuant to a Pooling and Servicing Agreement dated as of ______, 20__ (the
"Agreement") among the Seller, Wells Fargo Bank, N.A., as master servicer (the
"Master Servicer") and [TRUSTEE], as trustee (the "Trustee"), a summary of
certain of the pertinent provisions of which is set forth hereinafter. To the
extent not defined herein, the capitalized terms used herein have the meanings
ascribed to such terms 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 Business Day of
the month preceding the month of such distribution, in an amount equal to the
product of the Percentage Interest evidenced by this Certificate and, subject to
the prior rights of the Class A Certificates and each Class of Class B
Certificates bearing a lower numerical designation as specified in the
Agreement, any Class B-5 Distribution Amount required to be distributed to
Holders of the Class B-5 Certificates on such Distribution Date, subject to
adjustment, in certain events, as specified in the Agreement. The pass-through
rate on the Class B-5 Certificates applicable to each Distribution Date will be
a per annum rate equal to the weighted average of the Net Mortgage Interest
Rates of the Mortgage Loans (based on the Scheduled Principal Balances of the
Mortgage Loans on the first day of the month preceding the month of such
Distribution Date). The amount of interest which accrues on this Certificate in
any month will be subject to reduction with respect to any Non-Supported
Interest Shortfall and any Relief Act Shortfall allocated to the Class B-5
Certificates, as described in the Agreement.

          Distributions on this Certificate will be made on behalf of the
Trustee either by the Master Servicer or by a Paying Agent appointed by the
Master Servicer by check mailed to the address of the Person entitled thereto,
as such name and address shall appear on the Certificate Register, unless such
Person is entitled to receive payments by wire transfer in immediately available
funds in accordance with the Agreement and such Person has notified the Master
Servicer pursuant to the Agreement that such payments are to be made by wire
transfer of immediately available funds. Notwithstanding the above, the final
distribution in reduction of the Principal Balance of 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 specified
by the Trustee for that purpose in the notice of final distribution.

          No transfer of a Class B-5 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 desired
to be made by the Holder hereof, (i) the transferee will be required to execute
an

                                      B-5-3

<PAGE>

investment letter in the form described in the Agreement and (ii) if such
transfer is to be made within three years from the later of (a) the date of
initial issuance of the Certificates or (b) the last date on which the Seller or
any affiliate thereof was a Holder of the Certificates proposed to be
transferred, and unless such transfer is made in reliance on Rule 144A of the
Securities Act of 1933, as amended, the Trustee or the Seller may require the
Holder to deliver an opinion of counsel acceptable to and in form and substance
satisfactory to the Trustee and the Seller 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. The Holder hereof desiring
to effect such transfer shall, and does hereby agree to, indemnify the Trustee,
the Seller, the Master Servicer, and any Paying Agent 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 in the Agreement, stating either (a) that the
transferee is not a Plan and is not acting on behalf of a Plan or using the
assets of a Plan to effect such purchase or (b) subject to certain conditions
described in the Agreement, that the source of funds used to purchase this
Certificate is an "insurance company general account," or (ii) if such
transferee is a Plan, (a) an opinion of counsel acceptable to and in form and
substance satisfactory to the Trustee and the Seller with respect to certain
matters and (b) such other documentation as the Seller or the Master Servicer
may require, as described in the Agreement.

          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.

          This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

          Unless this Certificate has been countersigned by an authorized
officer of the Trustee, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

                                      B-5-4

<PAGE>

          IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
executed as of the date set forth below.

Dated:

                                           [TRUSTEE],
                                              Trustee

                                           By____________________________
                                                 Authorized Officer

Countersigned:

[TRUSTEE],
  Trustee

By ________________________
   Authorized Officer

                                      B-5-5

<PAGE>

                                   EXHIBIT B-6
                     [FORM OF FACE OF CLASS B-6 CERTIFICATE]

THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF PAYMENT TO THE CLASS A
CERTIFICATES, THE CLASS B-1 CERTIFICATES, THE CLASS B-2 CERTIFICATES, THE CLASS
B-3 CERTIFICATES, THE CLASS B-4 CERTIFICATES AND THE CLASS B-5 CERTIFICATES AS
DESCRIBED IN THE AGREEMENT REFERRED TO 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 REFERRED TO HEREIN.

EXCEPT AS PROVIDED IN SECTION 5.02(C) OF THE AGREEMENT REFERRED TO HEREIN, THIS
CERTIFICATE MAY NOT BE PURCHASED BY OR TRANSFERRED TO ANY PERSON THAT HAS NOT
DELIVERED A REPRESENTATION LETTER STATING EITHER (A) THAT THE TRANSFEREE IS NOT
AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT ARRANGEMENT SUBJECT TO TITLE I 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 A
GOVERNMENTAL PLAN, AS DEFINED IN SECTION 3(32) OF ERISA, SUBJECT TO ANY FEDERAL,
STATE OR LOCAL LAW WHICH IS, TO A MATERIAL EXTENT, SIMILAR TO THE FOREGOING
PROVISIONS OF ERISA OR THE CODE (COLLECTIVELY, A "PLAN"), AND IS NOT ACTING ON
BEHALF OF OR INVESTING THE ASSETS OF A PLAN OR (B) SUBJECT TO CERTAIN CONDITIONS
SET FORTH IN THE AGREEMENT, THAT THE SOURCE OF FUNDS USED TO PURCHASE THIS
CERTIFICATE IS AN "INSURANCE COMPANY GENERAL ACCOUNT."

<PAGE>

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 200_-_, CLASS B-6

   evidencing an interest in a pool of adjustable interest rate, conventional,
         monthly pay, fully amortizing, first lien, one- to four-family
                       residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
                (Not an interest in or obligation of the Seller)

          THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES, AND
IS NOT INSURED OR GUARANTEED BY THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR
ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE INSURER.

          DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                      Cut-Off Date: ____, 20__

CUSIP No.:                           First Distribution Date: ______, 20__

                                     Denomination: $

Percentage Interest evidenced        Final Scheduled Maturity Date: ______, 20__
by this Certificate: %

                                      B-6-2

<PAGE>

          THIS CERTIFIES THAT ____________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class B-6 Certificates with respect to a
Trust Estate consisting of a pool of adjustable interest rate, conventional,
monthly pay, fully amortizing, first lien, one- to four-family residential
mortgage loans (the "Mortgage Loans") formed by Wells Fargo Asset Securities
Corporation (hereinafter called the "Seller," which term includes any successor
entity under the Agreement referred to below). The Trust Estate was created
pursuant to a Pooling and Servicing Agreement dated as of ______, 20__ (the
"Agreement") among the Seller, Wells Fargo Bank, N.A., as master servicer (the
"Master Servicer") and [TRUSTEE], as trustee (the "Trustee"), a summary of
certain of the pertinent provisions of which is set forth hereinafter. To the
extent not defined herein, the capitalized terms used herein have the meanings
ascribed to such terms 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 Business Day of
the month preceding the month of such distribution, in an amount equal to the
product of the Percentage Interest evidenced by this Certificate and, subject to
the prior rights of the Class A Certificates and each Class of Class B
Certificates bearing a lower numerical designation as specified in the
Agreement, any Class B-6 Distribution Amount required to be distributed to
Holders of the Class B-6 Certificates on such Distribution Date, subject to
adjustment, in certain events, as specified in the Agreement. The pass-through
rate on the Class B-6 Certificates applicable to each Distribution Date will be
a per annum rate equal to the weighted average of the Net Mortgage Interest
Rates of the Mortgage Loans (based on the Scheduled Principal Balances of the
Mortgage Loans on the first day of the month preceding the month of such
Distribution Date). The amount of interest which accrues on this Certificate in
any month will be subject to reduction with respect to any Non-Supported
Interest Shortfall and any Relief Act Shortfall allocated to the Class B-6
Certificates, as described in the Agreement.

          Distributions on this Certificate will be made on behalf of the
Trustee either by the Master Servicer or by a Paying Agent appointed by the
Master Servicer by check mailed to the address of the Person entitled thereto,
as such name and address shall appear on the Certificate Register, unless such
Person is entitled to receive payments by wire transfer in immediately available
funds in accordance with the Agreement and such Person has notified the Master
Servicer pursuant to the Agreement that such payments are to be made by wire
transfer of immediately available funds. Notwithstanding the above, the final
distribution in reduction of the Principal Balance of 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 specified
by the Trustee for that purpose in the notice of final distribution.

          No transfer of a Class B-6 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 desired
to be made by the Holder hereof, (i) the transferee will be required to execute
an

                                      B-6-3

<PAGE>

investment letter in the form described in the Agreement and (ii) if such
transfer is to be made within three years from the later of (a) the date of
initial issuance of the Certificates or (b) the last date on which the Seller or
any affiliate thereof was a Holder of the Certificates proposed to be
transferred, and unless such transfer is made in reliance on Rule 144A of the
Securities Act of 1933, as amended, the Trustee or the Seller may require the
Holder to deliver an opinion of counsel acceptable to and in form and substance
satisfactory to the Trustee and the Seller 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. The Holder hereof desiring
to effect such transfer shall, and does hereby agree to, indemnify the Trustee,
the Seller, the Master Servicer, and any Paying Agent 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 in the Agreement, stating either (a) that the
transferee is not a Plan and is not acting on behalf of a Plan or using the
assets of a Plan to effect such purchase or (b) subject to certain conditions
described in the Agreement, that the source of funds used to purchase this
Certificate is an "insurance company general account," or (ii) if such
transferee is a Plan, (a) an opinion of counsel acceptable to and in form and
substance satisfactory to the Trustee and the Seller with respect to certain
matters and (b) such other documentation as the Seller or the Master Servicer
may require, as described in the Agreement.

          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.

          This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

          Unless this Certificate has been countersigned by an authorized
officer of the Trustee, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

                                      B-6-4

<PAGE>

     IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
executed as of the date set forth below.

Dated:

                                                  [TRUSTEE],
                                                    Trustee

                                                  By____________________________
                                                        Authorized Officer

Countersigned:

[TRUSTEE],
  Trustee

By ________________________
   Authorized Officer

                                      B-6-5

<PAGE>

                                    EXHIBIT C

                 [Form of Reverse of Series 200_-_ Certificates]

                    WELLS FARGO ASSET SECURITIES CORPORATION
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 200_-_

     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 funds are advanced with respect to any
Mortgage Loan by a Servicer, the Master Servicer or the Trustee, such advances
are reimbursable to such Servicer, the Master Servicer or the Trustee 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 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 reimbursement to a Servicer, the Master Servicer or the
Trustee, as applicable, of advances made by such Servicer, the Master Servicer
or the Trustee.

     The Agreement permits, with certain exceptions therein provided, the
amendment of the Agreement and the modification of the rights and obligations of
the Seller, the Master Servicer and the Trustee and the rights of the
Certificateholders under the Agreement at any time by the Seller, the Master
Servicer and the Trustee with the consent of the Holders of Certificates
evidencing in the aggregate not less than 66 2/3% of the Voting 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 hereof 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.

     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
office or agency appointed by the Trustee, 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 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

                                       1

<PAGE>

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 or the Certificate Registrar may require payment of a
sum sufficient to cover any tax or other governmental charge payable in
connection therewith.

     The Seller, the Master Servicer, the Trustee and the Certificate Registrar,
and any agent of the Seller, 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 Seller, the Master Servicer,
the Trustee, the Certificate Registrar nor any such agent shall be affected by
notice to the contrary.

     The obligations created by the Agreement in respect of the Certificates and
the Trust Estate created thereby shall terminate upon the last action required
to be taken by the Trustee on the Final Distribution Date pursuant to the
Agreement following the earlier of (i) the payment or other liquidation (or
advance with respect thereto) 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 Seller from the
Trust Estate of all remaining Mortgage Loans and all property acquired in
respect of such Mortgage Loans; provided, however, that the Trust Estate will in
no event 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 of the Agreement.
The Agreement permits, but does not require, the Seller to purchase all
remaining Mortgage Loans and all property acquired in respect of any Mortgage
Loan at a price determined as provided in the Agreement. The exercise of such
option will effect early retirement of the Certificates, the Seller's right to
exercise such option being subject to the Pool Scheduled Principal Balance of
the Mortgage Loans as of the Distribution Date upon which the proceeds of such
repurchase are distributed being less than ten percent of the Cut-Off Date
Aggregate Principal Balance.

                                       C-2

<PAGE>

                                   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)

the beneficial 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 Estate.

     I (We) further direct the Certificate Registrar to issue a new Certificate
of a like Denomination or Percentage Interest and Class, to the above named
assignee and deliver such Certificate to the following address:

________________________________________________________________________________
________________________________________________________________________________

Social Security or other Identifying Number of Assignee:

Dated:

                                         _______________________________________
                                          Signature by or on behalf of assignor

                                         _______________________________________
                                          Signature Guaranteed

                                       C-3

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

                  The assignee should include the following for purposes of
distribution:

     Distributions shall be made, if the assignee is eligible to receive
distributions in immediately available funds, 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.

                                       C-4

<PAGE>

                                    EXHIBIT D

                                    RESERVED

<PAGE>

                                    EXHIBIT E

                              [Custodial Agreement]

<PAGE>

                                   EXHIBIT F-1

                       [Schedule of Type 1 Mortgage Loans]

<PAGE>

                                    EXHIBIT G

                        REQUEST FOR RELEASE OF DOCUMENTS

To:  Wells Fargo Bank, N.A.
     1015 10th Avenue S.E.
     Minneapolis., MN  55414
     Attn:  ________________

     Re:  Custodial Agreement, dated as of ______, 20__, among [TRUSTEE], as
          Trustee, Wells Fargo Asset Securities Corporation, as Seller, Wells
          Fargo Bank, N.A., as Master Servicer, and Wells Fargo Bank, N.A., as
          Custodian, relating to the Wells Fargo Asset Securities Corporation;
          Mortgage Pass-Through Certificates, Series 200_-_.

          In connection with the administration of the Mortgage Loans held by
you as Custodian for the Trust Estate pursuant to the above-captioned Custodial
Agreement, we request the release, and hereby acknowledge receipt, of the
Custodian's Owner Mortgage Loan File for the Mortgage Loan described below, for
the reason indicated.

                              Mortgage Loan Number:

                       Mortgagor Name, Address & Zip Code:

                  Reason for Requesting Documents (check one):

                  _______          1.      Mortgage Paid in Full

                  _______          2.      Foreclosure

                  _______          3.      Substitution

                  _______          4.      Other Liquidation (Repurchases, etc.)

                  _______          5.      Nonliquidation

                  Reason:____________________________________

                  By:________________________________________
                     (authorized signer)

                  Issuer:____________________________________

<PAGE>

                  Address:___________________________________

                          ___________________________________

                  Date:  ____________________________________
                                    Custodian

Wells Fargo Bank, N.A.

     Please acknowledge the execution of the above request by your signature and
date below:

____________________________________                 _________________
Signature                                            Date

Documents returned to Custodian:

____________________________________                 _________________
Custodian                                            Date

                                     G - 2

<PAGE>

                                    EXHIBIT H

                                               AFFIDAVIT PURSUANT TO SECTION
                                               860E(e)(4) OF THE INTERNAL
                                               REVENUE CODE OF 1986, AS AMENDED,
                                               AND FOR NON-ERISA INVESTORS

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 Purchaser] (the
"Purchaser"), a [description of type of entity] duly organized and existing
under the laws of the [State of ___] [United States], on behalf of which he
makes this affidavit.

         2. That the Purchaser's Taxpayer Identification Number is [    ].

         3. That the Purchaser is not a "disqualified organization" within the
meaning of Section 860E(e)(5),of the Internal Revenue Code of 1986, as amended
(the "Code"), or an ERISA Prohibited Holder, and will not be a "disqualified
organization" or an ERISA Prohibited Holder, as of [date of transfer], and that
the Purchaser is not acquiring Wells Fargo Asset Securities Corporation Mortgage
Pass-Through Certificates, Series 200_-_, Class A-R Certificate (the "Class A-R
Certificate") for the account of, or as agent (including a broker, nominee, or
other middleman) for, any person or entity from which it has not received an
affidavit substantially in the form of this affidavit. For these purposes, a
"disqualified organization" means the United States, any state or political
subdivision thereof, any foreign government, any international organization, any
agency or instrumentality of any of the foregoing (other than an instrumentality
if all of its activities are subject to tax and a majority of its board of
directors is not selected by such governmental entity), any cooperative
organization furnishing electric energy or providing telephone service to
persons in rural areas as described in Code Section 1381(a)(2)(C), or any
organization (other than a farmers' cooperative described in Code Section 521)
that is exempt from taxation under the Code unless such organization is subject
to the tax on unrelated business income imposed by Code Section 511. For these
purposes, an "ERISA Prohibited Holder" means an employee benefit plan or other
retirement arrangement subject to Title I of the Employee Retirement Income
Security Act of 1974, as amended ("ERISA"), or Code Section 4975 or a
governmental plan, as defined in Section 3(32) of ERISA, subject to any federal,
state or local law which is, to a material extent, similar to the foregoing
provisions of ERISA or the Code (collectively, a "Plan") or a Person acting on
behalf of or investing the assets of such a Plan.

         4. That the Purchaser historically has paid its debts as they have come
due and intends to pay its debts as they come due in the future and the
Purchaser intends to pay taxes associated with holding the Class A-R Certificate
as they become due.

<PAGE>

     5. That the Purchaser understands that it may incur tax liabilities with
respect to the Class A-R Certificate in excess of cash flows generated by the
Class A-R Certificate.

     6. That the Purchaser will not transfer the Class A-R Certificate to any
person or entity from which the Purchaser has not received an affidavit
substantially in the form of this affidavit and as to which the Purchaser has
actual knowledge that the requirements set forth in paragraph 3, 4 or 10 hereof
are not satisfied or that the Purchaser has reason to know does not satisfy the
requirements set forth in paragraph 4 hereof.

     7. That the Purchaser is aware that the Class A-R Certificate may be a
"noneconomic residual interest" 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.

     8. That the Purchaser will not cause income from the Class A-R Certificate
to be attributable to a foreign permanent establishment or fixed base, within
the meaning of an applicable income tax treaty, of the Purchaser or any other
person.

     9. That, if the Purchaser is purchasing the Class A-R Certificate in a
transfer intended to meet the safe harbor provisions of Treasury Regulations
Sections 1.860E-1(c), the Purchaser has executed and attached Attachment A
hereto.

     10. That the Purchaser (i) is a U.S. Person or (ii) is a person other than
a U.S. Person (a "Non-U.S. Person") that holds the Class A-R Certificate in
connection with the conduct of a trade or business within the United States and
has furnished the transferor and the Trustee with an effective Internal Revenue
Service Form W-8ECI or successor form at the time and in the manner required by
the Code or (iii) is a Non-U.S. Person that has delivered to both the transferor
and the Trustee an opinion of a nationally recognized tax counsel to the effect
that the transfer of the Class A-R Certificate to it is in accordance with the
requirements of the Code and the regulations promulgated thereunder and that
such transfer of the Class A-R Certificate will not be disregarded for federal
income tax purposes. "U.S. Person" means a citizen or resident of the United
States, a corporation or partnership (unless, in the case of a partnership,
Treasury regulations are adopted that provide otherwise) created or organized in
or under the laws of the United States, any state thereof or the District of
Columbia, including an entity treated as a corporation or partnership for
federal income tax purposes, an estate whose income is subject to United States
federal income tax regardless of its source, or a trust if a court within the
United States is able to exercise primary supervision over the administration of
such trust, and one or more such U.S. Persons have the authority to control all
substantial decisions of such trust (or, to the extent provided in applicable
Treasury regulations, certain trusts in existence on August 20, 1996 which are
eligible to elect to be treated as U.S. Persons).

     11. That the Purchaser agrees to such amendments of the Pooling and
Servicing Agreement as may be required to further effectuate the restrictions on
transfer of the Class A-R Certificate to such a "disqualified organization," an
agent thereof, an ERISA Prohibited Holder or a person that does not satisfy the
requirements of paragraph 4, paragraph 5 and paragraph 10 hereof.

                                       H-2

<PAGE>

     12. That the Purchaser consents to the designation of the Master Servicer
as its agent to act as "tax matters person" of the REMIC pursuant to Section
8.14 of the Pooling and Servicing Agreement, and if such designation is not
permitted by the Code and applicable law, to act as tax matters person if
requested to do so.

                                       H-3

<PAGE>

     IN WITNESS WHEREOF, the Purchaser has caused this instrument to be executed
on its behalf, pursuant to authority of its Board of Directors, by its [Title of
Officer] this ___ day of , 20__.

                                            [NAME OF PURCHASER]

                                            By:_________________________________
                                               [Name of Officer]
                                               [Title of Officer]

     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 Purchaser, and acknowledged to me that he
[she] executed the same as his [her] free act and deed and the free act and deed
of the Purchaser.

     Subscribed and sworn before me this __ day of , 20__.

Notary Public

COUNTY OF____________________

STATE OF_____________________

My commission expires the __ day of __________, 20__.

                                       H-4

<PAGE>

                                  ATTACHMENT A

                                       to

 AFFIDAVIT PURSUANT TO SECTION 860E(e)(4) OF THE INTERNAL REVENUE CODE OF 1986,
                    AS AMENDED, AND FOR NON-ERISA INVESTORS

Check the appropriate box:

[_]      The consideration paid to the Purchaser to acquire the Class A-R
         Certificate equals or exceeds the excess of (a) the present value of
         the anticipated tax liabilities over (b) the present value of the
         anticipated savings associated with holding such Certificate, in each
         case calculated in accordance with U.S. Treasury Regulations Sections
         1.860E-1(c)(7) and (8), computing present values using a discount rate
         equal to the short-term Federal rate prescribed by Section 1274(d) of
         the Code and the compounding period used by the Purchaser.

                                       OR

[_]      The transfer of the Class A-R Certificate complies with U.S. Treasury
         Regulations Sections 1.860E-1(c)(5) and (6) and, accordingly:

         (i)      the Purchaser is an "eligible corporation," as defined in U.S.
                  Treasury Regulations Section 1.860E-1(c)(6)(i), as to which
                  income from Class A-R Certificate will only be taxed in the
                  United States;

         (ii)     at the time of the transfer, and at the close of the
                  Purchaser's two fiscal years preceding the year of the
                  transfer, the Purchaser had gross assets for financial
                  reporting purposes (excluding any obligation of a person
                  related to the Purchaser within the meaning of U.S. Treasury
                  Regulations Section 1.860E-1(c)(6)(ii)) in excess of $100
                  million and net assets in excess of $10 million;

         (iii)    the Purchaser will transfer the Class A-R Certificate only to
                  another "eligible corporation," as defined in U.S. Treasury
                  Regulations Section 1.860E-1(c)(6)(i), in a transaction that
                  satisfies the requirements of Sections 1.860E-1(c)(4)(i), (ii)
                  and (iii) and Section 1.860E-1(c)(5) of the U.S. Treasury
                  Regulations;

         (iv)     the Purchaser has determined the consideration paid to it to
                  acquire the Class A-R Certificate based on reasonable market
                  assumptions (including, but not limited to, borrowing and
                  investment rates, prepayment and loss assumptions, expense and
                  reinvestment assumptions, tax rates and other factors specific
                  to the Purchaser) that it has determined in good faith; and

         (v)      in the event of any transfer of the Class A-R Certificate by
                  the Purchaser, the Purchaser will require its transferee to
                  complete a representation in the form of this Attachment A as
                  a condition of the transferee's purchase of the Class A-R
                  Certificate.

<PAGE>

                                    EXHIBIT I

                [Letter from Transferor of Class A-R Certificate]

                                     [Date]

[Trustee]
[Address]

     Re:  Wells Fargo Asset Securities Corporation,

          Series 200_-_, Class A-R

Ladies and Gentlemen:

     [Transferor] has reviewed the attached affidavit of [Transferee], and has
no actual knowledge that such affidavit is not true and has no reason to know
that the information contained in paragraph 4 thereof is not true.

                                              Very truly yours,

                                              [Transferor]

                                              ______________________

<PAGE>

                                    EXHIBIT J

                    WELLS FARGO ASSET SECURITIES CORPORATION

                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 200_-_
                       CLASS [B-4][B-5][B-6] CERTIFICATES

                               TRANSFEREE'S LETTER

                                                      _________________ __, ____

[Trustee]
[Address]

Wells Fargo Asset Securities Corporation
7485 New Horizon Way
Frederick, Maryland 21703

        The undersigned (the "Purchaser") proposes to purchase Wells Fargo Asset
Securities Corporation Mortgage Pass-Through Certificates, Series 200_-_, Class
[B-4][B-5][B-6] Certificates (the "Class [B-4][B-5][B-6] Certificates") in the
principal amount of $___________. In doing so, the Purchaser hereby acknowledges
and agrees as follows:

        Section 1. Definitions. Each capitalized term used herein and not
otherwise defined herein shall have the meaning ascribed to it in the Pooling
and Servicing Agreement, dated as of ______, 20__ (the "Pooling and Servicing
Agreement") among Wells Fargo Asset Securities Corporation, as seller (the
"Seller"), Wells Fargo Bank, N.A., as master servicer (the "Master Servicer")
and [TRUSTEE], as trustee (the "Trustee"), of Wells Fargo Asset Securities
Corporation Mortgage Pass-Through Certificates, Series 200_-_.

        Section 2. Representations and Warranties of the Purchaser. In
connection with the proposed transfer, the Purchaser represents and warrants to
the Seller, the Master Servicer and the Trustee that:

        (a) The Purchaser is duly organized, validly existing and in good
standing under the laws of the jurisdiction in which the Purchaser is organized,
is authorized to invest in the Class [B-4][B-5][B-6] Certificates, and to enter
into this Agreement, and duly executed and delivered this Agreement.

        (b) The Purchaser is acquiring the Class [B-4][B-5][B-6] Certificates
for its own account as principal and not with a view to the distribution
thereof, in whole or in part.

        [(c) The Purchaser has knowledge of financial and business matters and
is capable of evaluating the merits and risks of an investment in the Class
[B-4][B-5][B-6] Certificates; the Purchaser has sought such accounting, legal
and tax advice as it has considered necessary to make an informed investment
decision; and the Purchaser is able to bear the economic risk of an

<PAGE>

investment in the Class [B-4][B-5][B-6] Certificates and can afford a complete
loss of such investment.]

        [(c) The Purchaser is a "Qualified Institutional Buyer" within
the meaning of Rule 144A of the Act.]

        (d) The Purchaser confirms that (a) it has received and reviewed a copy
of the Private Placement Memorandum dated __________ __, 20__, relating to the
Class [B-4][B-5][B-6] Certificates and reviewed, to the extent it deemed
appropriate, the documents attached thereto or incorporated by reference
therein, (b) it has had the opportunity to ask questions of, and receive answers
from the Seller concerning the Class [B-4][B-5][B-6] Certificates and all
matters relating thereto, and obtain any additional information (including
documents) relevant to its decision to purchase the Class [B-4][B-5][B-6]
Certificates that the Seller possesses or can possess without unreasonable
effort or expense and (c) it has undertaken its own independent analysis of the
investment in the Class [B-4][B-5][B-6] Certificates. The Purchaser will not use
or disclose any information it receives in connection with its purchase of the
Class [B-4][B-5][B-6] Certificates other than in connection with a subsequent
sale of Class [B-4][B-5][B-6] Certificates.

        (e) Either (i) the Purchaser is not an employee benefit plan or other
retirement arrangement subject to Title I 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 a governmental plan, as
defined in Section 3(32) of ERISA subject to any federal, state or local law
("Similar Law") which is, to a material extent, similar to the foregoing
provisions of ERISA or the Code (collectively, a "Plan"), an agent acting on
behalf of a Plan, or a person utilizing the assets of a Plan or (ii) if the
Purchaser is an insurance company, (A) the source of funds used to purchase the
Class [B-4][B-5][B-6] Certificate is an "insurance company general account" (as
such term is defined in Section V(e) of Prohibited Transaction Class Exemption
95-60 ("PTE 95-60"), 60 Fed. Reg. 35925 (July 12, 1995), (B) there is no Plan
with respect to which the amount of such general account's reserves and
liabilities for the contract(s) held by or on behalf of such Plan and all other
Plans maintained by the same employer (or affiliate thereof as defined in
Section V(a)(1) of PTE 95-60) or by the same employee organization exceeds 10%
of the total of all reserves and liabilities of such general account (as such
amounts are determined under Section I(a) of PTE 95-60) at the date of
acquisition and (C) the purchase and holding of such Class [B-4][B-5][B-6]
Certificates are covered by Sections I and III of PTE 95-60 or (iii) the
Purchaser has provided (a) a "Benefit Plan Opinion" satisfactory to the Seller
and the Trustee of the Trust Estate and (b) such other opinions of counsel,
officers' certificates and agreements as the Seller or the Master Servicer may
have required. A Benefit Plan Opinion is an opinion of counsel to the effect
that the proposed transfer will not constitute or result in a non-exempt
prohibited transaction within the meaning of ERISA, Section 4975 of the Code or
Similar Law and will not subject the Trustee, the Seller or the Master Servicer
to any obligation in addition to those undertaken in the Pooling and Servicing
Agreement (including any liability for civil penalties or excise taxes imposed
pursuant to ERISA, Section 4975 of the Code or Similar Law).

        (f) If the Purchaser is a depository institution subject to the
jurisdiction of the Office of the Comptroller of the Currency ("OCC"), the Board
of Governors of the Federal Reserve System ("FRB"), the Federal Deposit
Insurance Corporation ("FDIC"), the Office of Thrift Supervision ("OTS") or the
National Credit Union Administration ("NCUA"), the Purchaser has reviewed the
"Supervisory Policy Statement on Securities Activities" dated January 28, 1992
of the

                                     J - 2

<PAGE>

Federal Financial Institutions Examination Council and the April 15, 1994
Interim Revision thereto as adopted by the OCC, FRB, FDIC, OTS and NCUA (with
modifications as applicable), as appropriate, other applicable investment
authority, rules, supervisory policies and guidelines of these agencies and, to
the extent appropriate, state banking authorities and has concluded that its
purchase of the Class [B-4][B-5][B-6] Certificates is in compliance therewith.

       Section 3. Transfer of Class [B-4][B-5][B-6] Certificates.

       (a) The Purchaser understands that the Class [B-4][B-5][B-6] Certificates
have not been registered under the Securities Act of 1933 (the "Act") or any
state securities laws and that no transfer may be made unless the Class
[B-4][B-5][B-6] Certificates are registered under the Act and applicable state
law or unless an exemption from registration is available. The Purchaser further
understands that neither the Seller, the Master Servicer nor the Trustee is
under any obligation to register the Class [B-4][B-5][B-6] Certificates or make
an exemption available. In the event that such a transfer is to be made in
reliance upon an exemption from the Act or applicable state securities laws, (i)
the Trustee shall require, in order to assure compliance with such laws, that
the Certificateholder's prospective transferee certify to the Seller and the
Trustee as to the factual basis for the registration or qualification exemption
relied upon, and (ii) unless the transferee is a "Qualified Institutional Buyer"
within the meaning of Rule 144A of the Act, the Trustee or the Seller may, if
such transfer is made within three years from the later of (a) the Closing Date
or (b) the last date on which the Seller or any affiliate thereof was a holder
of the Certificates proposed to be transferred, require an Opinion of Counsel
that such transfer may be made pursuant to an exemption from the Act and state
securities laws, which Opinion of Counsel shall not be an expense of the
Trustee, the Master Servicer or the Seller. Any such Certificateholder desiring
to effect such transfer shall, and does hereby agree to, indemnify the Trustee,
the Master Servicer, any Paying Agent acting on behalf of the Trustee and the
Seller 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.

       (b) No transfer of a Class [B-4][B-5][B-6] Certificate shall be made
unless the transferee provides the Seller and the Trustee with a Transferee's
Letter, substantially in the form of this Agreement.

       (c) The Purchaser acknowledges that its Class [B-4][B-5][B-6]
Certificates bear a legend setting forth the applicable restrictions on
transfer.

                                     J - 3

<PAGE>

       IN WITNESS WHEREOF, the undersigned has caused this Agreement to be
validly executed by its duly authorized representative as of the day and the
year first above written.

                                            [PURCHASER]

                                            By: _______________________________

                                            Its: ______________________________

                                     J - 4

<PAGE>

                                    EXHIBIT K

                           List of Recordation States

<PAGE>

                                    EXHIBIT L

                              SERVICING AGREEMENTS

               Wells Fargo Home Mortgage, Inc. Servicing Agreement

                         [SERVICER] Servicing Agreement

                         [SERVICER] Servicing Agreement

<PAGE>

                                    EXHIBIT M

                      [FORM OF SPECIAL SERVICING AGREEMENT]

                 SPECIAL SERVICING AND COLLATERAL FUND AGREEMENT

     This SPECIAL SERVICING AND COLLATERAL FUND AGREEMENT (the "Agreement") is
made and entered into as of , between Wells Fargo Bank, N.A. (the "Company" and
"Wells Fargo Bank") and (the "Purchaser").

                              PRELIMINARY STATEMENT

     ______________________ is the holder of the entire interest in Wells Fargo
Asset Securities Corporation Mortgage Pass-Through Certificates, Series 200_-_,
Class ____ (the "Class B Certificates"). The Class B Certificates were issued
pursuant to a Pooling and Servicing Agreement dated as of ______, 20__ among
Wells Fargo Asset Securities Corporation, as seller (the "Seller"), Wells Fargo
Bank, N.A., as Master Servicer and [TRUSTEE], as Trustee.

     ______________________ intends to resell all of the Class B Certificates
directly to the Purchaser on or promptly after the date hereof.

     In connection with such sale, the parties hereto have agreed that the
Company will cause, to the extent that the Company as Master Servicer is granted
such authority in the related Servicing Agreements, the related servicers (each
a related "Servicer"), which service the Mortgage Loans which comprise the Trust
Estate related to the above referenced series under the related servicing
agreements (each a related "Servicing Agreement"), to engage in certain special
servicing procedures relating to foreclosures for the benefit of the Purchaser,
and that the Purchaser will deposit funds in a collateral fund to cover any
losses attributable to such procedures as well as all advances and costs in
connection therewith, as set forth herein.

     In consideration of the mutual agreements herein contained, the receipt and
sufficiency of which are hereby acknowledged, the Company and the Purchaser
agree that the following provisions shall become effective and shall be binding
on and enforceable by the Company and the Purchaser:

                                    ARTICLE I

                                   DEFINITIONS

     Section 1.01. Defined Terms.

     Whenever used in this Agreement, the following words and phrases, unless
the context otherwise requires, shall have the following meanings:

     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 are required or
authorized by law or executive order to be closed.

<PAGE>

     Collateral Fund: The fund established and maintained pursuant to Section
3.01 hereof.

     Collateral Fund Permitted Investments: Either (i) obligations of, or
obligations fully guaranteed as to principal and interest by, the United States,
or any agency or instrumentality thereof, provided such obligations are backed
by the full faith and credit of the United States, (ii) a money market fund
rated in the highest rating category by a nationally recognized rating agency
selected by the Company, (iii) cash, (iv) mortgage pass-through certificates
issued or guaranteed by Government National Mortgage Association, FNMA or FHLMC,
(v) commercial paper (including both non-interest-bearing discount obligations
and interest-bearing obligations payable on demand or on a specified date), the
issuer of which may be an affiliate of the Company, having at the time of such
investment a rating of at least P-1 by Moody's Investors Service, Inc.
("Moody's") or at least or at least A-1 by Standard & Poor's, a division of The
McGraw-Hill Companies, Inc. ("S&P") or (vi) demand and time deposits in,
certificates of deposit of, any depository institution or trust company (which
may be an affiliate of the Company) incorporated under the laws of the United
States of America or any state thereof and subject to supervision and
examination by federal and/or state banking authorities, so long as at the time
of such investment either (x) the long-term debt obligations of such depository
institution or trust company have a rating of at least AA by S&P or Aa2 by
Moody's, (y) the certificate of deposit or other unsecured short-term debt
obligations of such depository institution or trust company have a rating of at
least A-1 by S&P or P-1 by Moody's or (z) the depository institution or trust
company is one that is acceptable to either S&P or Moody's and, for each of the
preceding clauses (i), (iv), (v) and (vi), the maturity thereof shall be not
later than the earlier to occur of (A) 30 days from the date of the related
investment and (B) the next succeeding Distribution Date as defined in the
related Pooling and Servicing Agreement.

     Commencement of Foreclosure: The first official action required under local
law in order to commence foreclosure proceedings or to schedule a trustee's sale
under a deed of trust, including (i) in the case of a mortgage, any filing or
service of process necessary to commence an action to foreclose, or (ii) in the
case of a deed of trust, posting, the publishing, filing or delivery of a notice
of sale, but not including in either case (x) any notice of default, notice of
intent to foreclose or sell or any other action prerequisite to the actions
specified in (i) or (ii) above, (y) the acceptance of a deed-in-lieu of
foreclosure (whether in connection with a sale of the related property or
otherwise) or (z) initiation and completion of a short pay-off.

     Current Appraisal: With respect to any Mortgage Loan as to which the
Purchaser has made an Election to Delay Foreclosure, an appraisal of the related
Mortgaged Property obtained by the Purchaser at its own expense from an
independent appraiser (which shall not be an affiliate of the Purchaser)
acceptable to the Company as nearly contemporaneously as practicable to the time
of the Purchaser's election, prepared based on the Company's customary
requirements for such appraisals.

     Election to Delay Foreclosure: Any election by the Purchaser to delay the
Commencement of Foreclosure, made in accordance with Section 2.02(b).

     Election to Foreclose: Any election by the Purchaser to proceed with the
Commencement of Foreclosure, made in accordance with Section 2.03(a).

                                       M-2

<PAGE>

     Monthly Advances: Principal and interest advances and servicing advances
including costs and expenses of foreclosure.

     Required Collateral Fund Balance: As of any date of determination, an
amount equal to the aggregate of all amounts previously required to be deposited
in the Collateral Fund pursuant to Section 2.02(d) (after adjustment for all
withdrawals and deposits pursuant to Section 2.02(e)) and Section 2.03(b) (after
adjustment for all withdrawals and deposits pursuant to Section 2.03(c)) and
Section 3.02 to be reduced by all withdrawals therefrom pursuant to Section
2.02(g) and Section 2.03(d).

     Section 1.02. Definitions Incorporated by Reference.

     All capitalized terms not otherwise defined in this Agreement shall have
the meanings assigned in the Pooling and Servicing Agreement.

                                   ARTICLE II

                          SPECIAL SERVICING PROCEDURES

     Section 2.01. Reports and Notices.

     (a) In connection with the performance of its duties under the Pooling and
Servicing Agreement relating to the realization upon defaulted Mortgage Loans,
the Company as Master Servicer shall provide to the Purchaser the following
notices and reports:

          (i) Within five Business Days after each Distribution Date (or
     included in or with the monthly statements to Certificateholders pursuant
     to the Pooling and Servicing Agreement), the Company, shall provide to the
     Purchaser a report, using the same methodology and calculations in its
     standard servicing reports, indicating for the Trust Estate the number of
     Mortgage Loans that are (A) thirty days, (B) sixty days, (C) ninety days or
     more delinquent or (D) in foreclosure, and indicating for each such
     Mortgage Loan the loan number and outstanding principal balance.

          (ii) Prior to the Commencement of Foreclosure in connection with any
     Mortgage Loan, the Company shall cause (to the extent that the Company as
     Master Servicer is granted such authority in the related Servicing
     Agreement) the Servicer to provide the Purchaser with a notice (sent by
     telecopier) of such proposed and imminent foreclosure, stating the loan
     number and the aggregate amount owing under the Mortgage Loan. Such notice
     may be provided to the Purchaser in the form of a copy of a referral letter
     from such Servicer to an attorney requesting the institution of
     foreclosure.

     (b) If requested by the Purchaser, the Company shall cause the Servicer (to
the extent that the Company as Master Servicer is granted such authority in the
related Servicing Agreement) to make its servicing personnel available (during
their normal business hours) to respond to reasonable inquiries, by phone or in
writing by facsimile, electronic, or overnight mail transmission, by the
Purchaser in connection with any Mortgage Loan identified in a report under
subsection (a) (i) (B), (a) (i) (C), (a) (i) (D), or (a) (ii) which has been
given to the Purchaser; provided, that (1) the related Servicer shall only be
required to provide information that is readily

                                       M-3

<PAGE>

accessible to its servicing personnel and is non-confidential and (2) the
related Servicer shall respond within five Business Days orally or in writing by
facsimile transmission.

     (c) In addition to the foregoing, the Company shall cause the Servicer (to
the extent that the Company as Master Servicer is granted such authority in the
related Servicing Agreement) to provide to the Purchaser such information as the
Purchaser may reasonably request provided, however, that such information is
consistent with normal reporting practices, concerning each Mortgage Loan that
is at least ninety days delinquent and each Mortgage Loan which has become real
estate owned, through the final liquidation thereof; provided, that the related
Servicer shall only be required to provide information that is readily
accessible to its servicing personnel and is non-confidential provided, however,
that the Purchaser will reimburse the Company and the related Servicer for any
out of pocket expenses.

     Section 2.02. Purchaser's Election to Delay Foreclosure Proceedings.

     (a) The Purchaser shall be deemed to direct the Company to direct (to the
extent that the Company as Master Servicer is granted such authority in the
related Servicing Agreement) the related Servicer that in the event that the
Company does not receive written notice of the Purchaser's election pursuant to
subsection (b) below within 24 hours (exclusive of any intervening non-Business
Days) of transmission of the notice provided by the Company under Section 2.01
(a) (ii) subject to extension as set forth in Section 2.02(b), the related
Servicer may proceed with the Commencement of Foreclosure in respect of such
Mortgage Loan in accordance with its normal foreclosure policies without further
notice to the Purchaser. Any foreclosure that has been initiated may be
discontinued (i) without notice to the Purchaser if the Mortgage Loan has been
brought current or if a refinancing or prepayment occurs with respect to the
Mortgage Loan (including by means of a short payoff approved by the related
Servicer) or (ii) if the related Servicer has reached the terms of a forbearance
agreement with the borrower. In the latter case, the related Servicer may
complete such forbearance agreement unless instructed otherwise by the Purchaser
within two Business Days notification.

     (b) In connection with any Mortgage Loan with respect to which a notice
under Section 2.01(a)(ii) has been given to the Purchaser, the Purchaser may
elect to instruct the Company to cause, to the extent that the Company as Master
Servicer is granted such authority in the related Servicing Agreement, the
related Servicer to delay the Commencement of Foreclosure until such time as the
Purchaser determines that the related Servicer may proceed with the Commencement
of Foreclosure. Such election must be evidenced by written notice received
within 24 hours (exclusive of any intervening non-Business Days) of transmission
of the notice provided by the Company under Section 2.01(a)(ii). Such 24 hour
period shall be extended for no longer than an additional four Business Days
after the receipt of the information if the Purchaser requests additional
information related to such foreclosure; provided, however, that the Purchaser
will have at least one Business Day to respond to any requested additional
information. Any such additional information shall be provided only to the
extent it (i) is not confidential in nature and (ii) is obtainable by the
related Servicer from existing reports, certificates or statements or is
otherwise readily accessible to its servicing personnel. The Purchaser agrees
that it has no right to deal with the mortgagor during such period. However, if
such servicing activities include acceptance of a deed-in-lieu of foreclosure or
short payoff, the Purchaser will be notified and given two Business Days to
respond.

                                      M-4

<PAGE>

     (c) With respect to any Mortgage Loan as to which the Purchaser has made an
Election to Delay Foreclosure, the Purchaser shall obtain a Current Appraisal as
soon as practicable, but in no event more than 15 business days thereafter, and
shall provide the Company with a copy of such Current Appraisal.

     (d) Within two Business Days of making any Election to Delay Foreclosure,
the Purchaser shall remit by wire transfer to the Company, for deposit in the
Collateral Fund, an amount, as calculated by the Company, equal to the sum of
(i) 125% of the greater of the unpaid principal balance of the Mortgage Loan and
the value shown in the Current Appraisal referred to in subsection (c) above
(or, if such Current Appraisal has not yet been obtained, the Company's estimate
thereof, in which case the required deposit under this subsection shall be
adjusted upon obtaining such Current Appraisal), and (ii) three months' interest
on the Mortgage Loan at the applicable Mortgage Interest Rate. If any Election
to Delay Foreclosure extends for a period in excess of three months (such excess
period being referred to herein as the "Excess Period"), within two Business
Days the Purchaser shall remit by wire transfer in advance to the Company for
deposit in the Collateral Fund the amount of each additional month's interest,
as calculated by the Company, equal to interest on the Mortgage Loan at the
applicable Mortgage Interest Rate for the Excess Period. The terms of this
Agreement will no longer apply to the servicing of any Mortgage Loan upon the
failure of the Purchaser to deposit any of the above amounts relating to the
Mortgage Loan within two Business Days of the Election to Delay Foreclosure or
within two Business Days of the commencement of the Excess Period subject to
Section 3.01.

     (e) With respect to any Mortgage Loan as to which the Purchaser has made an
Election to Delay Foreclosure, the Company may withdraw from the Collateral Fund
from time to time amounts necessary to reimburse the related Servicer for all
related Monthly Advances and Liquidation Expenses thereafter made by such
Servicer in accordance with the Pooling and Servicing Agreement and the related
Servicing Agreement. To the extent that the amount of any such Liquidation
Expenses is determined by the Company based on estimated costs, and the actual
costs are subsequently determined to be higher, the Company may withdraw the
additional amount from the Collateral Fund. In the event that the Mortgage Loan
is brought current by the mortgagor and the foreclosure action is discontinued,
the amounts so withdrawn from the Collateral Fund shall be redeposited if and to
the extent that reimbursement therefor from amounts paid by the mortgagor is not
prohibited pursuant to the Pooling and Servicing Agreement or the related
Servicing Agreement, applicable law or the related mortgage note. Except as
provided in the preceding sentence, amounts withdrawn from the Collateral Fund
to cover Monthly Advances and Liquidation Expenses shall not be redeposited
therein or otherwise reimbursed to the Purchaser. If and when any such Mortgage
Loan is brought current by the mortgagor, all amounts remaining in the
Collateral Fund in respect of such Mortgage Loan (after adjustment for all
permitted withdrawals and deposits pursuant to this subsection) shall be
released to the Purchaser.

     (f) With respect to any Mortgage Loan as to which the Purchaser has made an
Election to Delay Foreclosure, the related Servicer shall continue to service
the Mortgage Loan in accordance with its customary procedures (other than the
delay in Commencement of Foreclosure as provided herein). If and when the
Purchaser shall notify the Company that it believes that it is appropriate to do
so, the related Servicer may proceed with the Commencement of Foreclosure. In
any event, if the Mortgage Loan is not brought current by the mortgagor by the
time the loan becomes 6 months delinquent, the Purchaser's election shall no
longer be effective and at the Purchaser's option, either (i) the Purchaser
shall purchase the Mortgage Loan from the related Trust

                                       M-5

<PAGE>

Estate at a purchase price equal to the fair market value as shown on the
Current Appraisal, to be paid by (x) applying any balance in the Collateral Fund
to such to such purchase price, and (y) to the extent of any deficiency, by wire
transfer of immediately available funds from the Purchaser to the Company for
deposit in the related Certificate Account; or (ii) the related Servicer shall
proceed with the Commencement of Foreclosure.

     (g) Upon the occurrence of a liquidation with respect to any Mortgage Loan
as to which the Purchaser made an Election to Delay Foreclosure and as to which
the related Servicer proceeded with the Commencement of Foreclosure in
accordance with subsection (f) above, the Company shall calculate the amount, if
any, by which the value shown on the Current Appraisal obtained under subsection
(c) exceeds the actual sales price obtained for the related Mortgaged Property
(net of Liquidation Expenses and accrued interest related to the extended
foreclosure period), and the Company shall withdraw the amount of such excess
from the Collateral Fund, shall remit the same to the Trust Estate and in its
capacity as Master Servicer shall apply such amount as additional Liquidation
Proceeds pursuant to the Pooling and Servicing Agreement. After making such
withdrawal, all amounts remaining in the Collateral Fund in respect of such
Mortgage Loan (after adjustment for all permitted withdrawals and deposits
pursuant to this Agreement) shall be released to the Purchaser.

     Section 2.03. Purchaser's Election to Commence Foreclosure Proceedings.

     (a) In connection with any Mortgage Loan identified in a report under
Section 2.01(a)(i)(B), the Purchaser may elect to instruct the Company to cause,
to the extent that the Company as Master Servicer is granted such authority in
the related Servicing Agreement, the related Servicer to proceed with the
Commencement of Foreclosure as soon as practicable. Such election must be
evidenced by written notice received by the Company by 5:00 p.m., New York City
time, on the third Business Day following the delivery of such report under
Section 2.01(a)(i).

     (b) Within two Business Days of making any Election to Foreclose, the
Purchaser shall remit to the Company, for deposit in the Collateral Fund, an
amount, as calculated by the Company, equal to 125% of the current unpaid
principal balance of the Mortgage Loan and three months interest on the Mortgage
Loan at the applicable Mortgage Interest Rate. If and when any such Mortgage
Loan is brought current by the mortgagor, all amounts in the Collateral Fund in
respect of such Mortgage Loan (after adjustment for all permitted withdrawals
and deposits pursuant to this Agreement) shall be released to the Purchaser if
and to the extent that reimbursement therefor from amounts paid by the mortgagor
is not prohibited pursuant to the Pooling and Servicing Agreement or the related
Servicing Agreement, applicable law or the related mortgage note. The terms of
this Agreement will no longer apply to the servicing of any Mortgage Loan upon
the failure of the Purchaser to deposit the above amounts relating to the
Mortgage Loan within two Business Days of the Election to Foreclose subject to
Section 3.01.

     (c) With respect to any Mortgage Loan as to which the Purchaser has made an
Election to Foreclose, the related Servicer shall continue to service the
Mortgage Loan in accordance with its customary procedures (other than
Commencement of Foreclosure as provided herein). In connection therewith, the
Company shall have the same rights to make withdrawals for Monthly Advances and
Liquidations Expenses from the Collateral Fund as are provided under Section
2.02(e), and the Company shall make reimbursements thereto to the limited extent
provided under such subsection in accordance with its customary procedures. The
Company shall not be

                                      M-6

<PAGE>

required to cause, to the extent that the Company as Master Servicer is granted
such authority in the related Servicing Agreement, the related Servicer to
proceed with the Commencement of Foreclosure if (i) the same is stayed as a
result of the mortgagor's bankruptcy or is otherwise barred by applicable law,
or to the extent that all legal conditions precedent thereto have not yet been
complied with, or (ii) the Company believes there is a breach of representations
or warranties by the Company, a Servicer, or a Seller, which may result in a
repurchase or substitution of such Mortgage Loan, or (iii) the Company or
related Servicer reasonably believes the Mortgaged Property may be contaminated
with or affected by hazardous wastes or hazardous substances (and, without
limiting the related Servicer's right not to proceed with the Commencement of
Foreclosure, the Company supplies the Purchaser with information supporting such
belief). Any foreclosure that has been initiated may be discontinued (x) without
notice to the Purchaser if the Mortgage Loan has been brought current or if a
refinancing or prepayment occurs with respect to the Mortgage Loan (including by
means of a short payoff approved by the Purchaser) or (y) with notice to the
Purchaser if the related Servicer has reached the terms of a forbearance
agreement unless instructed otherwise by the Purchaser within two Business Days
of such notification. Any such instruction shall be based upon a decision that
such forbearance agreement is not in conformity with reasonable servicing
practices.

     (d) Upon the occurrence of a liquidation with respect to any Mortgage Loan
as to which the Purchaser made an Election to Foreclose and as to which the
related Servicer proceeded with the Commencement of Foreclosure in accordance
with subsection (c) above, the Company shall calculate the amount, if any, by
which the unpaid principal balance of the Mortgage Loan at the time of
liquidation (plus all unreimbursed interest and servicing advances and
Liquidation Expenses in connection therewith other than those paid from the
Collateral Fund) exceeds the actual sales price obtained for the related
Mortgaged Property, and the Company shall withdraw the amount of such excess
from the Collateral Fund, shall remit the same to the Trust Estate and in its
capacity as Master Servicer shall apply such amount as additional Liquidation
Proceeds pursuant to the Pooling and Servicing Agreement. After making such
withdrawal, all amounts remaining in the Collateral Fund (after adjustment for
all withdrawals and deposits pursuant to subsection (c) in respect of such
Mortgage Loan shall be released to the Purchaser.

     Section 2.04. Termination.

     (a) With respect to all Mortgage Loans included in the Trust Estate, the
Purchaser's right to make any Election to Delay Foreclosure or any Election to
Foreclose and the Company's obligations under Section 2.01 shall terminate (i)
at such time as the Principal Balance of the Class B Certificates has been
reduced to zero, (ii) if the greater of (x) 43% (or such lower or higher
percentage that represents the related Servicer's actual historical loss
experience with respect to the Mortgage Loans in the related pool as determined
by the Company) of the aggregate principal balance of all Mortgage Loans that
are in foreclosure or are more than 90 days delinquent on a contractual basis
and REO properties or (y) the aggregate amount that the Company estimates
through the normal servicing practices of the related Servicer will be required
to be withdrawn from the Collateral Fund with respect to Mortgage Loans as to
which the Purchaser has made an Election to Delay Foreclosure or an Election to
Foreclosure, exceeds (z) the then-current principal balance of the Class B
Certificates, (iii) upon any transfer by the Purchaser of any interest (other
than the minority interest therein, but only if the transferee provides written
acknowledgment to the Company of the Purchaser's right hereunder and that such
transferee will have no rights hereunder) in the Class B Certificates (whether
or not such transfer is registered under the Pooling and

                                      M-7

<PAGE>

Servicing Agreement), including any such transfer in connection with a
termination of the Trust Estate or (iv) upon any breach of the terms of this
Agreement by the Purchaser. (b) Except as set forth in 2.04(a), this Agreement
and the respective rights, obligations and responsibilities of the Purchaser and
the Company hereunder shall terminate upon the later to occur of (i) the final
liquidation of the last Mortgage Loan as to which the Purchaser made any
Election to Delay Foreclosure or any Election to Foreclose and the withdrawal of
all remaining amounts in the Collateral Fund as provided herein and (ii) ten
Business Days' notice. The Purchaser's right to make an election pursuant to
Section 2.02 or Section 2.03 hereof with respect to a particular Mortgage Loan
shall terminate if the Purchaser fails to make any deposit required pursuant to
Section 2.02(d) or 2.03(b) or if the Purchaser fails to make any other deposit
to the Collateral Fund pursuant to this Agreement.

                                  ARTICLE III

                       COLLATERAL FUND; SECURITY INTEREST

     Section 3.01. Collateral Fund.

     Upon receipt from the Purchaser of the initial amount required to be
deposited in the Collateral Fund pursuant to Article II, the Company shall
establish and maintain with Bankers Trust Company as a segregated account on its
books and records an account (the "Collateral Fund"), entitled "Wells Fargo
Bank, N.A., as Master Servicer, for the benefit of registered holders of Wells
Fargo Asset Securities Corporation Mortgage Pass-Through Certificates, Series
200_-_." Amounts held in the Collateral Fund shall continue to be the property
of the Purchaser, subject to the first priority security interest granted
hereunder for the benefit of the Certificateholders, until withdrawn from the
Collateral Fund pursuant to Section 2.02 or 2.03 hereof. The Collateral Fund
shall be an "outside reserve fund" within the meaning of the REMIC Provisions,
beneficially owned by the Purchaser for federal income tax purposes. All income,
gain, deduction or loss with respect to the Collateral Fund shall be that of the
Purchaser. All distributions from the Trust Fund to the Collateral Fund shall be
treated as distributed to the Purchaser as the beneficial owner thereof.

     Upon the termination of this Agreement and the liquidation of all Mortgage
Loans as to which the Purchaser has made any Election to Delay Foreclosure or
any Election to Foreclose pursuant to Section 2.04 hereof, the Company shall
distribute or cause to be distributed to the Purchaser all amounts remaining in
the Collateral Fund (after adjustment for all deposits and permitted withdrawals
pursuant to this Agreement) together with any investment earnings thereon. In
the event the Purchaser has made any Election to Delay Foreclosure or any
Election to Foreclose, prior to any distribution to the Purchaser of all amounts
remaining in the Collateral Fund, funds in the Collateral Fund shall be applied
consistent with the terms of this Agreement. Section 3.02. Collateral Fund
Permitted Investments.

     The Company shall, at the written direction of the Purchaser, invest the
funds in the Collateral Fund in Collateral Fund Permitted Investments. Such
direction shall not be changed more frequently than quarterly. In the absence of
any direction, the Company shall select such investments in accordance with the
definition of Collateral Fund Permitted Investments in its discretion.

                                      M-8

<PAGE>

       All income and gain realized from any investment as well as any interest
earned on deposits in the Collateral Fund (net of any losses on such
investments) and any payments of principal made in respect of any Collateral
Fund Permitted Investment shall be deposited in the Collateral Fund upon
receipt. All costs and realized losses associated with the purchase and sale of
Collateral Fund Permitted Investments shall be borne by the Purchaser and the
amount of net realized losses shall be deposited by the Purchaser in the
Collateral Fund promptly upon realization. The Company shall periodically (but
not more frequently than monthly) distribute to the Purchaser upon request an
amount of cash, to the extent cash is available therefore in the Collateral
Fund, equal to the amount by which the balance of the Collateral Fund, after
giving effect to all other distributions to be made from the Collateral Fund on
such date, exceeds the Required Collateral Fund Balance. Any amounts so
distributed shall be released from the lien and security interest of this
Agreement.

       Section 3.03. Grant of Security Interest.

       The Purchaser hereby grants to the Company for the benefit of the
Certificateholders under the Pooling and Servicing Agreement a security interest
in and lien on all of the Purchaser's right, title and interest, whether now
owned or hereafter acquired, in and to: (1) the Collateral Fund, (2) all amounts
deposited in the Collateral Fund and Collateral Fund Permitted Investments in
which such amounts are invested (and the distributions and proceeds of such
investments) and (3) all cash and non-cash proceeds of any of the foregoing,
including proceeds of the voluntary conversion thereof (all of the foregoing
collectively, the "Collateral").

       The Purchaser acknowledges the lien on and the security interest in the
Collateral for the benefit of the Certificateholders. The Purchaser shall take
all actions requested by the Company as may be reasonably necessary to perfect
the security interest created under this Agreement in the Collateral and cause
it to be prior to all other security interests and liens, including the
execution and delivery to the Company for filing of appropriate financing
statements in accordance with applicable law. The Company shall file appropriate
continuation statements, or appoint an agent on its behalf to file such
statements, in accordance with applicable law.

       Section 3.04. Collateral Shortfalls.

       In the event that amounts on deposit in the Collateral Fund at any time
are insufficient to cover any withdrawals therefrom that the Company is then
entitled to make hereunder, the Purchaser shall be obligated to pay such amounts
to the Company immediately upon demand. Such obligation shall constitute a
general corporate obligation of the Purchaser. The failure to pay such amounts
within two Business Days of such demand (except for amounts to cover interest on
a Mortgage Loan pursuant to Sections 2.02(d) and 2.03 (b)), shall cause an
immediate termination of the Purchaser's right to make any Election to Delay
Foreclosure or Election to Foreclose and the Company's obligations under this
Agreement with respect to all Mortgage Loans to which such insufficiencies
relate, without the necessity of any further notice or demand on the part of the
Company.

                                       M-9

<PAGE>

                                   ARTICLE IV

                            MISCELLANEOUS PROVISIONS

       Section 4.01. Amendment.

       This Agreement may be amended from time to time by the Company and the
Purchaser by written agreement signed by the Company and the Purchaser.

       Section 4.02. Counterparts.

       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 4.03. Governing Law.

       This Agreement shall be 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 4.04. Notices.

       All demands, notices and direction hereunder shall be in writing or by
telecopy and shall be deemed effective upon receipt to:

       (a) in the case of the Company,
               Wells Fargo Bank, N.A.
               7485 New Horizon Way
               Frederick, MD 21703

               Attention: Vice President, Master Servicing
               Phone: 301-696-7800
               Fax: 301-815-6365

       (b) in the case of the Purchaser,

               ________________________________

               ________________________________

               ________________________________

               ________________________________

               Attention:______________________

       Section 4.05. Severability of Provisions.

                                      M-10

<PAGE>

       If any one or more of the covenants, agreements, provision or terms of
this Agreement shall be for any reason whatsoever, including regulatory, held
invalid, then such 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.

       Section 4.06. Successors and Assigns.

       The provisions of this Agreement shall be binding upon and inure to the
benefit of the respective successors and assigns of the parties hereto, and all
such provisions shall inure to the benefit of the Certificateholders; provided,
however, that the rights under this Agreement cannot be assigned by the
Purchaser without the consent of the Company.

       Section 4.07. Article and Section Headings.

       The article and section headings herein are for convenience of reference
only and shall not limit or otherwise affect the meaning hereof.

       Section 4.08. Confidentiality.

       The Purchaser agrees that all information supplied by or on behalf of the
Company pursuant to Sections 2.01 or 2.02, including individual account
information, is the property of the Company and the Purchaser agrees to hold
such information confidential and not to disclose such information.

       Each party hereto agrees that neither it, nor any officer, director,
employee, affiliate or independent contractor acting at such party's direction
will disclose the terms of Section 4.09 of this Agreement to any person or
entity other than such party's legal counsel except pursuant to a final,
non-appealable order of court, the pendency of such order the other party will
have received notice of at least five business days prior to the date thereof,
or pursuant to the other party's prior express written consent.

       Section 4.09. Indemnification.

       The Purchaser agrees to indemnify and hold harmless the Company, the
Seller, and each Servicer and each person who controls the Company, the Seller,
or a Servicer and each of their respective officers, directors, affiliates and
agents acting at the Company's, the Seller's, or a Servicer's direction (the
"Indemnified Parties") against any and all losses, claims, damages or
liabilities to which they may be subject, insofar as such losses, claims,
damages or liabilities (or actions in respect thereof) arise out of, or are
based upon, actions taken by, or actions not taken by, the Company, the Seller,
or a Servicer, or on their behalf, in accordance with the provisions of this
Agreement and (i) which actions conflict with the Company's, the Seller's, or a
Servicer's obligations under the Pooling and Servicing Agreement or the related
Servicing Agreement, or (ii) give rise to securities law liability under federal
or state securities laws with respect to the Certificates. The Purchaser hereby
agrees to reimburse the Indemnified Parties for the reasonable legal or other
expenses incurred by them in connection with investigating or defending any such
loss, claim, damage, liability or action. The indemnification obligations of the
Purchaser hereunder shall survive the termination or expiration of this
Agreement.

                                      M-11

<PAGE>

     IN WITNESS WHEREOF, the Company and the Purchaser have caused their names
to be signed hereto by their respective officers thereunto duly authorized, all
as of the day and year first above written.

                                        Wells Fargo Bank, N.A.

                                        By: ____________________________________
                                            Name:
                                            Title:

                                        By: ____________________________________
                                            Name:
                                            Title:

                                      M-12

<PAGE>

                                    EXHIBIT N

                 FORM OF INITIAL CERTIFICATION OF THE CUSTODIAN

                                  May 14, 20__

Wells Fargo Asset Securities Corporation
7485 New Horizon Way
Frederick, Maryland  21703

[Trustee]
[Address]

     Re:  The Pooling and Servicing Agreement, dated ______, 20__, among Wells
          Fargo Asset Securities Corporation, as Seller, Wells Fargo Bank, N.A.,
          as Master Servicer, and [TRUSTEE], as Trustee, relating to the Wells
          Fargo Asset Securities Corporation; Mortgage Pass-Through
          Certificates, Series 200_-_.

Ladies and Gentlemen:

     In accordance with the provisions of Section 2.02 of the above-referenced
Pooling and Servicing Agreement (the "Pooling and Servicing Agreement"), the
undersigned, as Custodian on behalf of the Trustee, hereby certifies that,
except as specified in any list of exceptions attached hereto, it has received
the original Mortgage Note relating to each of the Mortgage Loans listed on the
Mortgage Loan Schedule.

     The Custodian has made no independent examination of any documents
contained in each Mortgage File beyond the review specifically required in the
Pooling and Servicing Agreement in connection with this initial certification.
The Custodian makes no representations as to: (i) the validity, legality,
sufficiency, enforceability, recordability or genuineness of any of the
documents contained in each Mortgage File or any of the Mortgage Loans
identified in the Mortgage Loan Schedule or (ii) the collectibility,
insurability, effectiveness or suitability of any such Mortgage Loan.

<PAGE>

     Capitalized terms used but not defined herein shall have the meanings
ascribed to such terms in the Pooling and Servicing Agreement.

                                        WELLS FARGO BANK, N.A.,
                                         as Custodian on behalf of the Trustee

                                        By: ____________________________________
                                        Name: __________________________________
                                        Title: _________________________________

                                       N-2

<PAGE>

                                    EXHIBIT O

                  FORM OF FINAL CERTIFICATION OF THE CUSTODIAN

                              [__________ __, ____]

Wells Fargo Asset Securities Corporation
7485 New Horizon Way
Frederick, Maryland  21703

[Trustee]
[Address]

     Re:  The Pooling and Servicing Agreement, dated ______, 20__, among Wells
          Fargo Asset Securities Corporation, as Seller, Wells Fargo Bank, N.A.,
          as Master Servicer, and [TRUSTEE], as Trustee, relating to the Wells
          Fargo Asset Securities Corporation; Mortgage Pass-Through
          Certificates, Series 200_-_.

Ladies and Gentlemen:

     In accordance with the provisions of Section 2.02 of the above-referenced
Pooling and Servicing Agreement (the "Pooling and Servicing Agreement"), the
undersigned, as Custodian on behalf of the Trustee, hereby certifies that, as to
each Mortgage Loan listed in the Mortgage Loan Schedule, except as may be
specified in any list of exceptions attached hereto, such Mortgage File contains
all of the items required to be delivered pursuant to Section 2.01 of the
Pooling and Servicing Agreement.

     The Custodian has made no independent examination of any documents
contained in each Mortgage File beyond the review specifically required in the
Pooling and Servicing Agreement in connection with this final certification. The
Custodian makes no representations as to: (i) the validity, legality,
sufficiency, enforceability, recordability or genuineness of any of the
documents contained in each Mortgage File or any of the Mortgage Loans
identified in the Mortgage Loan Schedule or (ii) the collectibility,
insurability, effectiveness or suitability of any such Mortgage Loan.

<PAGE>

     Capitalized terms used but not defined herein shall have the meanings
ascribed to such terms in the Pooling and Servicing Agreement.

                                        WELLS FARGO BANK, N.A.,
                                         as Custodian on behalf of the Trustee

                                        By: ____________________________________
                                        Name: __________________________________
                                        Title: _________________________________

                                     M - 2

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