Document:

Exhibit 4.1
===============================================================================

                       WACHOVIA MORTGAGE LOAN TRUST, LLC,

                                  as Depositor,

                      WACHOVIA BANK, NATIONAL ASSOCIATION,

                          as Certificate Administrator

                   WELLS FARGO BANK, N.A. and NATIONAL CITY MORTGAGE CO.,

                                  as Servicers

                                       and

                              U.S. BANK NATIONAL ASSOCIATION,

                                   as Trustee

                         POOLING AND SERVICING AGREEMENT

                              Dated August 24, 2005

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

                       Mortgage Pass-Through Certificates

                                  Series 2005-A

===============================================================================

<PAGE>

                                TABLE OF CONTENTS

                                                                            Page
PRELIMINARY STATEMENT........................................................1

                                    ARTICLE I

                                   DEFINITIONS

Section 1.01  Defined Terms.  ...............................................4
Section 1.02  Interest Calculations.   .....................................33

                                   ARTICLE II

                          CONVEYANCE OF MORTGAGE LOANS
                        ORIGINAL ISSUANCE OF CERTIFICATES

Section 2.01  Conveyance of Mortgage Loans..................................34
Section 2.02  Acceptance by the Custodian of the Mortgage Loans.  ..........37
Section 2.03  Representations, Warranties and Covenants of the Servicers....39
Section 2.04  Assignment of Interest in the Mortgage Loan Purchase Agreement;
               Depositor Representations and Warranties.....................41
Section 2.05  Intent of Parties and Protection of Title.....................43
Section 2.06  Designation of Interests in the REMIC.........................44
Section 2.07  Designation of Start-up Day...................................44
Section 2.08  REMIC Certificate Maturity Date...............................45
Section 2.09  Execution and Delivery of Certificates........................45

                                   ARTICLE III

                          ADMINISTRATION AND SERVICING
                                OF MORTGAGE LOANS

Section 3.01  Servicers to Service Mortgage Loans.  ........................45
Section 3.02  Subservicing; Enforcement of the Obligations of Servicers.....46
Section 3.03  Fidelity Bond; Errors and Omissions Insurance.................47
Section 3.04  Access to Certain Documentation...............................48
Section 3.05  Maintenance of Primary Insurance Policy; Claims...............48
Section 3.06  Rights of the Depositor, the Certificate Administrator
               and the Trustee in Respect of the Servicers..................49
Section 3.07  Trustee to Act as Servicer....................................49
Section 3.08  Collection of Mortgage Loan Payments; Servicer Custodial
               Accounts; Certificate Account; and Upper-Tier Certificate
               Account......................................................50
Section 3.09  Collection of Taxes, Assessments and Similar Items; Escrow
               Accounts.....................................................53
Section 3.10  Access to Certain Documentation and Information Regarding
               the Mortgage Loans...........................................54
Section 3.11  Permitted Withdrawals from the Servicer Custodial Accounts;
               Certificate Account and Upper-Tier Certificate Account.......55
Section 3.12  Maintenance of Hazard Insurance...............................56
Section 3.13  Enforcement of Due-On-Sale Clauses; Assumption Agreements.....57
Section 3.14  Realization Upon Defaulted Mortgage Loans; REO Property.......58
Section 3.15  Custodian to Cooperate; Release of Mortgage Files.............60
Section 3.16  Documents, Records and Funds in Possession of the Servicers
               to be Held for the Trustee...................................61
Section 3.17  Servicing Compensation........................................61
Section 3.18  Annual Statement as to Compliance.............................62
Section 3.19  Annual Independent Public Accountants' Servicing
               Statement; Financial Statements..............................62
Section 3.20  Advances......................................................62
Section 3.21  Modifications, Waivers, Amendments and Consents...............63
Section 3.22  Reports to the Securities and Exchange Commission.............64
Section 3.23  Annual Certification..........................................64

                                   ARTICLE IV

                             SERVICER'S CERTIFICATE

Section 4.01  Servicer's Certificates.......................................65

                                    ARTICLE V

                 PAYMENTS AND STATEMENTS TO CERTIFICATEHOLDERS;
                              REMIC ADMINISTRATION

Section 5.01  Distributions.  ..............................................66
Section 5.02  Priorities of Distributions...................................66
Section 5.03  Allocation of Losses..........................................70
Section 5.04  Statements to Certificateholders..............................72
Section 5.05  Tax Returns and Reports to Certificateholders.................74
Section 5.06  Tax Matters Person............................................75
Section 5.07  Rights of the Tax Matters Person in Respect of
               the Certificate Administrator................................75
Section 5.08  REMIC Related Covenants.......................................75

                                   ARTICLE VI

                                THE CERTIFICATES

Section 6.01  The Certificates.  ...........................................77
Section 6.02  Registration of Transfer and Exchange of Certificates.........77
Section 6.03  Mutilated, Destroyed, Lost or Stolen Certificates.  ..........82
Section 6.04  Persons Deemed Owners.  ......................................82

                                   ARTICLE VII

                         THE DEPOSITOR and THE SERVICERs

Section 7.01 Respective Liabilities of the Depositor and the Servicers......82
Section 7.02 Merger or Consolidation of the Depositor or a Servicer.........82
Section 7.03 Limitation on Liability of the Depositor, the Servicers
               and Others; Liability of Servicers...........................83
Section 7.04  Depositor and Servicers Not to Resign.  ......................84

                                  ARTICLE VIII

                                     DEFAULT

Section 8.01  Events of Default.  ..........................................84
Section 8.02  Remedies of Trustee.  ........................................86
Section 8.03  Directions by Certificateholders and Duties of Trustee
               During Event of Default......................................86
Section 8.04  Action upon Certain Failures of a Servicer and upon
               Event of Default.............................................87
Section 8.05  Trustee to Act; Appointment of Successor......................87
Section 8.06  Notification to Certificateholders.  .........................88

                                   ARTICLE IX

                    THE TRUSTEE AND CERTIFICATE ADMINISTRATOR

Section 9.01  Duties of Trustee and the Certificate Administrator...........88
Section 9.02  Certain Matters Affecting the Trustee and Certificate
               Administrator................................................90
Section 9.03  Neither Trustee nor Certificate Administrator Liable for
               Certificates or Mortgage Loans...............................92
Section 9.04  Trustee and Certificate Administrator May Own Certificates....93
Section 9.05  Eligibility Requirements for Trustee and Certificate
               Administrator................................................93
Section 9.06  Resignation and Removal of Trustee and the Certificate
               Administrator................................................94
Section 9.07  Successor Trustee or Certificate Administrator................95
Section 9.08  Merger or Consolidation of Trustee or the Certificate
               Administrator................................................95
Section 9.09  Appointment of Co-Trustee or Separate Trustee.................96
Section 9.10  Authenticating Agents.  ......................................97
Section 9.11  Trustee's Fees and Expenses and Certificate
               Administrator's Fees and Expenses............................97
Section 9.12  [Reserved]....................................................98
Section 9.13  Paying Agents.  ..............................................98
Section 9.14  Limitation of Liability.  ....................................99
Section 9.15  Trustee May Enforce Claims Without Possession
               of Certificates..............................................99
Section 9.16  Suits for Enforcement.  ......................................99
Section 9.17  Waiver of Bond Requirement.  ................................100
Section 9.18  Waiver of Inventory, Accounting and Appraisal Requirement....100

                                    ARTICLE X

                                   TERMINATION

Section 10.01 Termination upon Purchase by the Depositor or
               Liquidation of All Mortgage Loans...........................100
Section 10.02 Additional Termination Requirements..........................102

                                   ARTICLE XI

                            MISCELLANEOUS PROVISIONS

Section 11.01 Amendment.  .................................................102
Section 11.02 Recordation of Agreement.  ..................................104
Section 11.03 Limitation on Rights of Certificateholders.  ................104
Section 11.04 Governing Law.  .............................................105
Section 11.05 Notices......................................................105
Section 11.06 Severability of Provisions.  ................................105
Section 11.07 Certificates Nonassessable and Fully Paid.  .................105
Section 11.08 Access to List of Certificateholders.........................106

<PAGE>

APPENDICES

Appendix 1              Calculation of Uncertificated Lower-Tier Regular
                         Interest Y Principal Reduction Amounts

EXHIBITS

Exhibit 1-A-1      -     Form of Face of Class 1-A-1 Certificate
Exhibit 1-A-R      -     Form of Face of Class 1-A-R Certificate
Exhibit 2-A-1      -     Form of Face of Class 2-A-1 Certificate
Exhibit 2-A-2      -     Form of Face of Class 2-A-2 Certificate
Exhibit 3-A-1      -     Form of Face of Class 3-A-1 Certificate
Exhibit 3-A-2      -     Form of Face of Class 3-A-2 Certificate
Exhibit 4-A-1      -     Form of Face of Class 4-A-1 Certificate
Exhibit 4-A-2      -     Form of Face of Class 4-A-2 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 all Certificates......................C-1
Exhibit D-1       Mortgage Loan Schedule (Loan Group 1)..................D-1-1
Exhibit D-2       Mortgage Loan Schedule (Loan Group 2)..................D-2-1
Exhibit D-3       Mortgage Loan Schedule (Loan Group 3)..................D-3-1
Exhibit D-4       Mortgage Loan Schedule (Loan Group 4)..................D-4-1
Exhibit E         Request for Release of Documents.........................E-1
Exhibit F         Form of Certification of Establishment of Account........F-1
Exhibit G-1       Form of Transferor's Certificate.......................G-1-1
Exhibit G-2A      Form 1 of Transferee's Certificate....................G-2A-1
Exhibit G-2B      Form 2 of Transferee's Certificate....................G-2B-1
Exhibit H         Form of Transferee Representation Letter
                  for ERISA Restricted Certificates........................H-1
Exhibit I         Form of Affidavit Regarding Transfer of Residual
                   Certificates............................................I-1
Exhibit J         Contents of Servicing File...............................J-1
Exhibit K         Form of Special Servicing Agreement......................K-1
Exhibit L-1       Form of Servicer's Certificate (Wells Fargo)...........L-1-1
Exhibit L-2       Form of Servicer's Certificate (National City).........L-2-1
Exhibit M         Form of Lost Note Affidavit..............................M-1
Exhibit N         Form of Custodial Agreement..............................N-1
Exhibit O         Form of Initial Certification............................O-1
Exhibit P         Form of Final Certification..............................P-1
Exhibit Q         Form of Certification....................................Q-1
Exhibit R         Form of Certification to be Provided to Depositor........R-1

<PAGE>

                                      -23-

                         POOLING AND SERVICING AGREEMENT

      THIS POOLING AND SERVICING AGREEMENT, dated August 24, 2005, is hereby
executed by and among WACHOVIA MORTGAGE LOAN TRUST, LLC, as Depositor, WACHOVIA
BANK, NATIONAL ASSOCIATION, as Certificate Administrator, WELLS FARGO BANK, N.A.
("Wells Fargo"), as a Servicer, NATIONAL CITY MORTGAGE CO. ("National City"), as
a Servicer, and U.S. BANK NATIONAL ASSOCIATION, 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 Depositor,
the Servicers, the Certificate Administrator and the Trustee agree as follows:

                              PRELIMINARY STATEMENT

      In exchange for the Certificates, the Depositor will convey the Trust
Estate to the Trustee and create the Trust.

                                Lower-Tier REMIC

      As provided herein, the Certificate Administrator, on behalf of the
Trustee, will make an election to treat the entire segregated pool of assets
described in the definition of Trust Estate (including the Mortgage Loans), and
subject to this Agreement, as a real estate mortgage investment conduit (a
"REMIC") for federal income tax purposes and such segregated pool of assets will
be designated as the "Lower-Tier REMIC." Component I of the Class 1-A-R
Certificates will represent ownership of the sole class of "residual interests"
in the Lower-Tier REMIC for purposes of the REMIC Provisions (as defined
herein).

      The following table irrevocably sets forth the designation, Uncertificated
Pass-Through Rate and initial Uncertificated Principal Balance for each of the
"regular interests" in the Lower-Tier REMIC (the "Uncertificated Lower-Tier
Regular Interests") and the designation, Pass-Through Rate and initial Class
Certificate Balance of Component I of the Class 1-A-R Certificates. None of the
Uncertificated Lower-Tier Regular Interests will be certificated. Solely for
purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the
"latest possible maturity date" for each of the Uncertificated Lower-Tier
Regular Interests and Component I of the Class 1-A-R Certificates shall be the
REMIC Certificate Maturity Date.

<PAGE>

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    Designation         Uncertificated           Initial Uncertificated
                     Pass-Through Rate (or   Principal Balance (or Initial
                      Pass-Through Rate)       Class Certificate Balance)
-----------------------------------------------------------------------------
        Y-1               Variable(1)                             $57,266.24
-----------------------------------------------------------------------------
        Y-2               Variable(1)                             $93,786.88
-----------------------------------------------------------------------------
        Y-3               Variable(1)                             $39,002.06
-----------------------------------------------------------------------------
        Y-4               Variable(1)                             $34,208.52
-----------------------------------------------------------------------------
        Z-1               Variable(1)                        $114,475,223.64
-----------------------------------------------------------------------------
        Z-2               Variable(1)                        $187,479,978.83
-----------------------------------------------------------------------------
        Z-3               Variable(1)                         $77,974,371.72
-----------------------------------------------------------------------------
        Z-4               Variable(1)                         $68,390,956.03
-----------------------------------------------------------------------------
Component I of the        Variable(2)                                $100.00
    Class 1-A-R
-----------------------------------------------------------------------------

(1) Calculated in accordance with the definition of "Uncertificated Pass-Through
   Rate" herein.

(2) For each Distribution Date, interest will accrue on Component I of the Class
   1-A-R Certificates at a per annum rate equal to the Net WAC for the Group 1
   Mortgage Loans.

                                Upper-Tier REMIC

      A segregated pool of assets consisting of the Uncertificated Lower-Tier
Regular Interests will be designated as the "Upper-Tier REMIC" and the
Certificate Administrator will make a separate REMIC election with respect
thereto. Each of the Certificates (other than the Class 1-A-R Certificates) will
be "regular interests" in the Upper-Tier REMIC (referred to collectively as the
"Regular Certificates") and Component II of the Class 1-A-R Certificates will
represent ownership of the sole class of "residual interests" in the Upper-Tier
REMIC for purposes of the REMIC Provisions. Solely for purposes of satisfying
Treasury regulation Section 1.860G-1(a)(4)(iii), the "latest possible maturity
date," for each of the Regular Certificates and Component II of the Class 1-A-R
Certificates shall be the REMIC Certificate Maturity Date. The Certificates and
the Uncertificated Lower-Tier Regular Interests will represent the entire
beneficial ownership interest in the Trust.

            The following table sets forth characteristics of the Certificates,
together with the minimum denominations and integral multiples in excess thereof
in which the Classes of Certificates shall be issuable (except that one
Certificate of each Class of Certificates may be issued in any amount in excess
of the minimum denomination):

<PAGE>

=============== ================== =========== ============= ==============
Classes         Initial Class      Pass-ThroughMinimum       Integral
                                                             Multiples
                Certificate                                  In Excess
                Balance            Rate        Denomination  Of Minimum
--------------- ------------------ ----------- ------------- --------------
Class 1-A-1       $109,664,000.00  (1)         $ 10,000      $1
--------------- ------------------ ----------- ------------- --------------
Component II                $0.00  (1)         (6)           N/A
of Class 1-A-R
--------------- ------------------ ----------- ------------- --------------
Class 2-A-1       $171,967,000.00  (2)         $ 10,000      $1
--------------- ------------------ ----------- ------------- --------------
Class 2-A-2         $7,634,000.00  (2)         $ 10,000      $1
--------------- ------------------ ----------- ------------- --------------
Class 3-A-1        $71,522,000.00  (3)         $ 10,000      $1
--------------- ------------------ ----------- ------------- --------------
Class 3-A-2         $3,175,000.00  (3)         $ 10,000      $1
--------------- ------------------ ----------- ------------- --------------
Class 4-A-1        $62,732,000.00  (4)         $ 10,000      $1
--------------- ------------------ ----------- ------------- --------------
Class 4-A-2         $2,785,000.00  (4)         $ 10,000      $1
--------------- ------------------ ----------- ------------- --------------
Class B-1           $8,973,000.00  (5)         $ 10,000      $1
--------------- ------------------ ----------- ------------- --------------
Class B-2           $3,364,000.00  (5)         $ 10,000      $1
--------------- ------------------ ----------- ------------- --------------
Class B-3           $2,242,000.00  (5)         $ 10,000      $1
--------------- ------------------ ----------- ------------- --------------
Class B-4           $2,018,000.00  (5)         $ 10,000      $1
--------------- ------------------ ----------- ------------- --------------
Class B-5           $1,569,000.00  (5)         $ 10,000      $1
--------------- ------------------ ----------- ------------- --------------
Class B-6             $899,793.92  (5)         $ 10,000      $1
--------------- ------------------ ----------- ------------- --------------

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

(1) For each Distribution Date, interest will accrue on these Certificates at a
per annum rate equal to the Net WAC for the Group 1 Mortgage Loans.

(2) For each Distribution Date, interest will accrue on these Certificates at a
per annum rate equal to the Net WAC for the Group 2 Mortgage Loans.

(3) For each Distribution Date, interest will accrue on these Certificates at a
per annum rate equal to the Net WAC for the Group 3 Mortgage Loans.

(4) For each Distribution Date, interest will accrue on these Certificates at a
per annum rate equal to the Net WAC for the Group 4 Mortgage Loans.

(5) For each Distribution Date, interest will accrue on these Certificates at a
per annum rate equal to Net WAC for Mortgage Loans in each Loan Group, weighted
on the basis of the aggregate Stated Principal Balances of the Mortgage Loans in
each Loan Group on the Due Date in the month preceding the month of such
Distribution Date minus the Class Certificate Balance of the related Classes of
Class A Certificates.

(6) Other than the 0.01% Percentage Interest in the Class 1-A-R Certificates to
be held by the Seller, the minimum denomination of the Class 1-A-R Certificates
will be 20% of the Percentage Interest of the Class 1-A-R Certificates.

<PAGE>

                                    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
meanings specified in this Article:

            1933 Act:  The Securities Act of 1933, as amended.

            Accrued Certificate Interest: For any Distribution Date and each
interest-bearing Class, one month's interest accrued during the related Interest
Accrual Period at the applicable Pass-Through Rate on the applicable Class
Certificate Balance.

            Adjusted Pool Amount: With respect to any Distribution Date and Loan
Group, the Cut-Off Date Pool Principal Balance of the Mortgage Loans in such
Loan Group minus the sum of (i) all amounts in respect of principal received in
respect of the Mortgage Loans in such Loan Group (including, without limitation,
amounts received as Monthly Payments, Periodic Advances, Principal Prepayments,
Liquidation Proceeds and Substitution Adjustment Amounts) and distributed to
Holders of Certificates on such Distribution Date and all prior Distribution
Dates, (ii) the principal portion of all Realized Losses (other than Debt
Service Reductions) incurred on the Mortgage Loans in such Loan Group from the
Cut-Off Date through the end of the month preceding such Distribution Date and
(iii) any amounts capitalized as a result of modifications to such Mortgage
Loans pursuant to Section 3.21.

            Advance:  A Periodic Advance or a Servicing Advance.

            Affiliate: With respect to any Person, any other Person controlling,
controlled by or under common control with such Person. For purposes of this
definition, "control" means the power to direct the management and policies of a
Person, directly or indirectly, whether through ownership of voting securities,
by contract or otherwise and "controlling" and "controlled" shall have meanings
correlative to the foregoing.

            Aggregate Subordinate Percentage: As to any Distribution Date, the
aggregate Class Certificate Balance of the Subordinate Certificates divided by
the aggregate Pool Stated Principal Balance for all Loan Groups.

            Agreement: This Pooling and Servicing Agreement together with all
amendments hereof and supplements hereto.

            Amount Held for Future Distribution: As to any Distribution Date and
Loan Group, the total of the amounts held in the related Servicer Custodial
Account at the close of business on the preceding Determination Date on account
of (i) Principal Prepayments and Liquidation Proceeds received or made on the
Mortgage Loans in such Loan Group in the month of such Distribution Date and
(ii) payments which represent receipt of Monthly Payments on the Mortgage Loans
in such Loan Group in respect of a Due Date or Due Dates subsequent to the
related Due Date.

            Appraised Value: With respect to any Mortgaged Property, either (i)
the lesser of (a) the appraised value determined in an appraisal obtained by the
originator at origination of such Mortgage Loan and (b) the sales price for such
property, except that, in the case of Mortgage Loans the proceeds of which were
used to refinance an existing mortgage loan, the Appraised Value of the related
Mortgaged Property is the appraised value thereof determined in an appraisal
obtained at the time of refinancing, or (ii) the appraised value determined in
an appraisal made at the request of a Mortgagor subsequent to origination in
order to eliminate the Mortgagor's obligation to keep a Primary Insurance Policy
in force.

            Assignment of Mortgage: An individual assignment of the Mortgage,
notice of transfer or equivalent instrument in recordable form, sufficient under
the laws of the jurisdiction wherein the related Mortgaged Property is located
to give record notice of the assignment of the Mortgage.

            Authenticating Agents:  As defined in Section 9.10.

            Book-Entry  Certificate:  All Classes of  Certificates  other than
the Physical Certificates.

            Business Day: Any day other than (i) a Saturday or a Sunday or (ii)
a day on which banking institutions in the State of North Carolina, Delaware,
the State of New York, each state in which the servicing office of a Servicer is
located or the states in which the Corporate Trust Offices of the Certificate
Administrator and the Trustee are located are required or authorized by law or
executive order to be closed.

            Certificate: Any of the Wachovia Mortgage Loan Trust, LLC Mortgage
Pass-Through Certificates, Series 2005-A that are issued pursuant to this
Agreement.

            Certificate Account: The separate Eligible Account created and
maintained by the Certificate Administrator pursuant to Section 3.08(c) in the
name of the Certificate Administrator, on behalf of the Trustee, for the benefit
of the Certificateholders and designated "Wachovia Bank, National Association,
in trust for registered holders of Wachovia Mortgage Loan Trust, LLC Mortgage
Pass-Through Certificates, Series 2005-A." Funds in the Certificate Account
shall be held in trust for the Certificateholders for the uses and purposes set
forth in this Agreement.

            Certificate Administrator: Wachovia Bank, National Association, a
national banking association, and its successors-in-interest and, if a successor
certificate administrator is appointed hereunder, such successor, as certificate
administrator.

            Certificate Administrator Fee: As to any Distribution Date, an
amount equal to one-twelfth of the Certificate Administrator Fee Rate multiplied
by the aggregate Stated Principal Balance of the Mortgage Loans immediately
following the Due Date in the month preceding the month in which such
Distribution Date occurs.

            Certificate Administrator Fee Rate:  0.0075% per annum.

            Certificate Balance: With respect to any Certificate at any date,
the product of the Percentage Interest of such Certificate and the Class
Certificate Balance of the Class of Certificates of which such Certificate is a
part.

            Certificate Owner: With respect to a Book-Entry Certificate, the
Person who is the beneficial owner of a Book-Entry Certificate. With respect to
any Definitive Certificate, the Certificateholder of such Certificate.

            Certificate Register:  The register maintained pursuant to Section
6.02.

            Certificate Registrar:  The registrar appointed pursuant to Section
6.02.

            Certificateholder: The Person in whose name a Certificate is
registered in the Certificate Register, except that, solely for the purpose of
giving any consent pursuant to this Agreement, any Certificate registered in the
name of the Depositor, either Servicer or any affiliate thereof shall be deemed
not to be outstanding and the Percentage Interest and Voting Rights evidenced
thereby shall not be taken into account in determining whether the requisite
amount of Percentage Interests or Voting Rights, as the case may be, necessary
to effect any such consent has been obtained, provided that none of the
Certificate Registrar, the Certificate Administrator, or the Trustee shall be
responsible for knowing that any Certificate is registered in the name of such
an affiliate unless a Responsible Officer of any such party has actual
knowledge.

            Class: The Class 1-A-1, Class 1-A-R, Class 2-A-1, Class 2-A-2, Class
3-A-1, Class 3-A-2, Class 4-A-1, Class 4-A-2, Class B-1, Class B-2, Class B-3,
Class B-4, Class B-5 and Class B-6 Certificates, as the case may be.

            Class A Certificates: The Class 1-A-1, Class 1-A-R, Class 2-A-1,
Class 2-A-2, Class 3-A-1, Class 3-A-2, Class 4-A-1 and Class 4-A-2 Certificates.

            Class B Certificates: The Class B-1, Class B-2, Class B-3, Class
B-4, Class B-5 and Class B-6 Certificates.

             Class 2-A-2 Loss Allocation Amount: With respect to any
Distribution Date after the Senior Credit Support Depletion Date, the amount, if
any, by which the Class Certificate Balance of the Class 2-A-2 Certificates
would be reduced as a result of the allocation of any Realized Loss pursuant to
Section 5.03(b) to such Class, without regard to the operation of Section
5.03(e).

            Class 3-A-2 Loss Allocation Amount: With respect to any Distribution
Date after the Senior Credit Support Depletion Date, the amount, if any, by
which the Class Certificate Balance of the Class 3-A-2 Certificates would be
reduced as a result of the allocation of any Realized Loss pursuant to Section
5.03(b) to such Class, without regard to the operation of Section 5.03(e).

            Class 4-A-2 Loss Allocation Amount: With respect to any Distribution
Date after the Senior Credit Support Depletion Date, the amount, if any, by
which the Class Certificate Balance of the Class 4-A-2 Certificates would be
reduced as a result of the allocation of any Realized Loss pursuant to Section
5.03(b) to such Class, without regard to the operation of Section 5.03(e).

            Class Certificate Balance: With respect to any Class and any date of
determination, the Initial Class Certificate Balance of such Class minus the sum
of (i) all distributions of principal made with respect thereto, (ii) all
Realized Losses allocated thereto pursuant to Section 5.03(a), and (iii) all
other reductions in Class Certificate Balance previously allocated thereto
pursuant to Section 5.03(b), plus the amount of any Subsequent Recoveries added
to the Class Certificate Balance of such Class pursuant to Section 5.03(f).

            Class Interest Shortfall: For any Distribution Date and each
interest-bearing Class, the amount by which Accrued Certificate Interest for
such Class (as reduced pursuant to Section 5.02(c)) exceeds the amount of
interest actually distributed on such Class on such Distribution Date pursuant
to clause (i) of the definition of "Interest Distribution Amount."

            Class Unpaid Interest Shortfall: As to any Distribution Date and
each interest-bearing Class, the amount by which the aggregate Class Interest
Shortfalls for such Class on prior Distribution Dates exceeds the amount of
interest actually distributed on such Class on such prior Distribution Dates
pursuant to clause (ii) of the definition of "Interest Distribution Amount."

            Closing Date:  August 24, 2005.

            Code:  The Internal Revenue Code of 1986, as amended.

            Compensating Interest:  As defined in Section 3.17.

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

            Corporate Trust Office: With respect to the Certificate
Administrator, the principal office of the Certificate Administrator at which at
any particular time its certificate transfer services are conducted, which
office at the date of the execution of this instrument is located at 401 South
Tryon Street, 12th Floor, Charlotte, NC 28288, Attention: Structured Finance
Services - Wachovia Mortgage Loan Trust, Series 2005-A. With respect to the
Trustee, the principal office of the Trustee at which at any particular time its
certificate transfer services are conducted, which office at the date of the
execution of this instrument is located at 60 Livingston Avenue, EP-MN-WS3D, St.
Paul, Minnesota 55107, Attention: Structured Finance/WMLT 2005-A.

            Custodial Agreement: The Custodial Agreement, dated as of August 24,
2005, among the Depositor, the Custodian, the Servicers and the Trustee, which
is attached hereto as Exhibit N, as the same may be amended or modified from
time to time in accordance with the terms thereof.

            Custodian: Wachovia Bank, National Association, or its successor in
interest under the Custodial Agreement.

            Customary Servicing Procedures: With respect to a Servicer,
procedures (including collection procedures) that such Servicer customarily
employs and exercises in servicing and administering mortgage loans for its own
account and which are in accordance with accepted mortgage servicing practices
of prudent lending institutions servicing mortgage loans of the same type as the
Mortgage Loans in the jurisdictions in which the related Mortgaged Properties
are located.

            Cut-Off Date: August 1, 2005.

            Cut-Off Date Pool Principal Balance: For each Loan Group the
aggregate of the Cut-Off Date Principal Balances of the Mortgage Loans in such
Loan Group which is $114,532,589.88 for Loan Group 1, $187,573,765.71 for Loan
Group 2, $78,013,373.78 for Loan Group 3 and $68,425,164.55 for Loan Group 4.

            Cut-Off Date Principal Balance: As to any Mortgage Loan, the unpaid
principal balance thereof as of the close of business on the Cut-Off Date,
reduced by all installments of principal due on or prior thereto whether or not
paid.

            Debt Service Reduction: As to any Mortgage Loan and any
Determination Date, the excess of (i) the Monthly Payment due on the related Due
Date under the terms of such Mortgage Loan over (ii) the amount of the monthly
payment of principal and/or interest required to be paid with respect to such
Due Date by the Mortgagor as established by a court of competent jurisdiction
(pursuant to an order which has become final and nonappealable) as a result of a
case initiated by or against the related Mortgagor under the United States
Bankruptcy Code, as amended (Title 11, U.S.C.); provided that no such excess
shall be considered a Debt Service Reduction so long as (a) the Servicer
servicing such Mortgage Loan is pursuing an appeal of the court order giving
rise to any such modification and (b)(1) such Mortgage Loan is not in default
with respect to payment due thereunder in accordance with the terms of such
Mortgage Loan as in effect immediately prior to such bankruptcy case or (2)
Monthly Payments are being advanced by such Servicer in accordance with the
terms of such Mortgage Loan as in effect immediately prior to such bankruptcy
case.

            Debt  Service  Reduction  Mortgage  Loan:  Any  Mortgage  Loan that
became  the subject of a Debt Service Reduction.

            Defaulted Mortgage Loan: Any Mortgage Loan as to which (i) any
payment, or part thereof, remains unpaid for 90 days or more after the original
due date for such payment, (ii) the related Mortgagor is subject to any
bankruptcy or insolvency proceeding, (iii) the related Mortgaged Property has
been foreclosed, sold pursuant to a power of sale or trustee's sale or
repossessed, or proceedings for foreclosure, sale or repossession have been
commenced or (iv) the Servicer servicing such Mortgage Loan has determined,
consistent with its Customary Servicing Procedures, that such Mortgage Loan is
not collectible and should be written off in whole or in part.

            Defective Mortgage Loan: Any Mortgage Loan which is required to be
cured, repurchased or substituted for pursuant to Sections 2.02 or 2.04.

            Deficient Valuation: As to any Mortgage Loan and any Determination
Date, the excess of (i) the then outstanding indebtedness under such Mortgage
Loan over (ii) the value of the related Mortgaged Property established by a
court of competent jurisdiction (pursuant to an order which has become final and
nonappealable) as a result of a case initiated by or against the related
Mortgagor under the United States Bankruptcy Code, as amended (Title 11,
U.S.C.), pursuant to which such Mortgagor retained such Mortgaged Property;
provided that no such excess shall be considered a Deficient Valuation so long
as (a) the Servicer servicing such Mortgage Loan is pursuing an appeal of the
court order giving rise to any such modification and (b)(1) such Mortgage Loan
is not in default with respect to payments due thereunder in accordance with the
terms of such Mortgage Loan as in effect immediately prior to such bankruptcy
case or (2) Monthly Payments are being advanced by such Servicer in accordance
with the terms of such Mortgage Loan as in effect immediately prior to such
bankruptcy case.

            Deficient Valuation Mortgage Loan: Any Mortgage Loan that became the
subject of a Deficient Valuation.

            Definitive Certificates:  As defined in Section 6.02(c)(iii).

            Depositor:  Wachovia  Mortgage  Loan Trust,  LLC, a Delaware limited
liability company, or its successor in interest, as depositor under this
Agreement.

            Depository:  The Depository  Trust Company,  the nominee of which is
Cede & Co., as the registered  Holder of the Book-Entry  Certificates or any
successor thereto appointed in  accordance  with  this  Agreement.  The
Depository shall at all  times be a  "clearing corporation" as defined in
Section 8-102 of the New York Uniform Commercial Code.

            Depository Participant: A broker, dealer, bank or other financial
institution or other Person for whom from time to time a Depository effects
book-entry transfers and pledges of securities deposited with the Depository.

            Determination Date: As to any Distribution Date, the 13th day of the
month of the related Distribution Date or, if such 13th day is not a Business
Day, the Business Day immediately preceding such 13th day.

            Distribution Date: The 20th day of each month beginning in September
2005 (or, if such day is not a Business Day, the next Business Day).

            Distribution Date Statement:  As defined in Section 5.04(b).

            Due Date: As to any  Distribution  Date and each Mortgage Loan, the
first day in the calendar month of such Distribution Date.

            Eligible Account: Any of (i) a federal or state chartered depository
institution the short-term unsecured debt obligations of which (or, in the case
of a depository institution that is the principal subsidiary of a holding
company, the debt obligations of such holding company) have the highest
short-term ratings of each Rating Agency at the time any amounts are held on
deposit therein, (ii) an account or accounts in a depository institution in
which such accounts are insured by the FDIC (to the limits established by the
FDIC) and the uninsured deposits in which accounts are otherwise secured such
that, as evidenced by an Opinion of Counsel delivered to the Certificate
Administrator and the Trustee and to each Rating Agency, the Certificateholders
have a claim with respect to the funds in such account or a perfected first
priority security interest against any collateral (which shall be limited to
Permitted Investments) securing such funds that is superior to claims of any
other depositors or creditors of the depository institution in which such
account is maintained, (iii) a trust account or accounts maintained with the
trust department of a federal or state chartered depository institution, acting
in its fiduciary capacity or (iii) any other account acceptable to each Rating
Agency. Eligible Accounts may bear interest and may include, if otherwise
qualified under this definition, accounts maintained with the institutions
acting as Certificate Administrator or Trustee.

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

            ERISA  Restricted   Certificates:   Any  Class  B-4,  Class  B-5  or
Class  B-6 Certificate.

            Escrow Account:  As defined in Section 3.09.

            Escrow Payments: The amounts constituting taxes, assessments,
Primary Insurance Policy premiums, fire and hazard insurance premiums and other
payments as may be required to be escrowed by the Mortgagor with the mortgagee
pursuant to the terms of any Mortgage Note or Mortgage.

            Event of Default:  As defined in Section 8.01.

            Excess Proceeds: With respect to any Liquidated Mortgage Loan, the
amount, if any, by which the sum of any Liquidation Proceeds of such Mortgage
Loan received in the calendar month in which such Mortgage Loan became a
Liquidated Mortgage Loan, net of any amounts previously reimbursed to the
related Servicer as Nonrecoverable Advances with respect to such Mortgage Loan
pursuant to Section 3.11(a)(iii), exceeds (i) the unpaid principal balance of
such Liquidated Mortgage Loan as of the Due Date in the month in which such
Mortgage Loan became a Liquidated Mortgage Loan plus (ii) accrued interest at
the Mortgage Interest Rate from the Due Date as to which interest was last paid
up to the Due Date applicable to the Distribution Date immediately following the
calendar month during which such liquidation occurred.

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

            FHLMC:  The Federal Home Loan Mortgage Corporation, or any successor
thereto.

            Final  Distribution  Date: The Distribution Date on which the final
distribution in respect of the Certificates will be made pursuant to
Section 10.01.

            Financial Market Service:  Bloomberg  Financial  Service and any
other financial information  provider  designated  by the  Depositor  by written
notice to the  Certificate Administrator.

            FIRREA:  The Financial  Institutions  Reform,  Recovery and
Enforcement  Act of 1989, as amended.

            Fitch:  Fitch Ratings, and its successors in interest.

            FNMA:  Fannie Mae, or any successor thereto.

            Fractional Interest:  As defined in Section 5.02(d).

            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 Rate
Adjustment Date to determine (subject to rounding, the Initial Cap, Periodic Cap
and the Lifetime Cap) the Mortgage Interest Rate on such Mortgage Loan until the
next Rate Adjustment Date.

            Group:  Any of Group 1, Group 2, Group 3 or Group 4.

            Group 1:  The Group 1-A Certificates.

            Group 1 Mortgage Loan:  Each Mortgage Loan listed on Exhibit
D-1 hereto.

            Group 2:  The Group 2-A Certificates.

            Group 2 Mortgage Loan:  Each Mortgage Loan listed on Exhibit
D-2 hereto.

            Group 3:  The Group 3-A Certificates.

            Group 3 Mortgage Loan:  Each Mortgage Loan listed on Exhibit
D-3 hereto.

            Group 4:  The Group 4-A Certificates.

            Group 4 Mortgage Loan:  Each Mortgage Loan listed on Exhibit
D-4 hereto.

            Group  1-A   Certificates:   The  Class  1-A-1   Certificates  and
Class  1-A-R Certificates.

            Group  2-A   Certificates:   The  Class  2-A-1   Certificates  and
Class  2-A-2 Certificates.

            Group  3-A   Certificates:   The  Class  3-A-1   Certificates  and
Class  3-A-2 Certificates.

            Group  4-A   Certificates:   The  Class  4-A-1   Certificates  and
Class  4-A-2 Certificates.

            Group Subordinate Amount: With respect to any Distribution Date and
any Loan Group, the excess of the Pool Stated Principal Balance for such Loan
Group over the aggregate Class Certificate Balance of the Senior Certificates of
the Related Group immediately prior to such date.

            Holder:  A Certificateholder.

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

            Index: As to any Group 1 Mortgage Loan, Group 3 Mortgage Loan or
Group 4 Mortgage Loan and Rate Adjustment Date, a rate per annum that is defined
to be the arithmetic mean of the London interbank offered rate quotations for
one year U.S. Dollar-denominated deposits, as published in The Wall Street
Journal and most recently available either (i) as of the first Business Day in
the month preceding the month of the applicable Rate Adjustment Date or (ii)
forty-five days before the applicable Rate Adjustment Date or, in the event that
such index is no longer available, a substitute index selected by National City,
as the applicable Servicer, in accordance with the terms of the related Mortgage
Note. As to any Group 2 Mortgage Loan and Rate Adjustment Date, a rate per annum
that is defined to be the weekly average yield on U.S. Treasury securities
adjusted to a constant maturity of one year, as reported by the Federal Reserve
Board in statistical Release No. H.15(519), as most recently available either
(i) as of the date forty-five days, thirty-five days or thirty days prior to the
Rate Adjustment Date or (ii) on the Rate Adjustment Date as published in the
place specified in the related Mortgage Note and as made available as of the
date specified in the related Mortgage Note or, in the event that such index is
no longer available, a substitute index selected by Wells Fargo, as the
applicable Servicer, in accordance with the terms of the related Mortgage Note.

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

            Initial Class Certificate Balance: As to each Class of Certificates,
the Class Certificate Balance set forth in the Preliminary Statement.

            Insurance Policy: With respect to any Mortgage Loan included in the
Trust Estate, any related insurance policy, including all riders and
endorsements thereto in effect, including any replacement policy or policies for
any Insurance Policies.

            Insurance Proceeds: Proceeds paid by an insurer pursuant to any
Insurance Policy, in each case other than any amount included in such Insurance
Proceeds in respect of Insured Expenses.

            Insured Expenses: Expenses covered by an Insurance Policy or any
other insurance policy with respect to the Mortgage Loans.

            Interest Accrual Period: As to any Distribution Date and each Class
of Certificates, the immediately preceding calendar month.

            Interest Distribution Amount: For any Distribution Date and each
interest-bearing Class, the sum of (i) the Accrued Certificate Interest, subject
to reduction pursuant to Section 5.02(c) and (ii) any Class Unpaid Interest
Shortfall for such Class.

            Lifetime Cap: As to any Mortgage Loan, the maximum Mortgage Interest
Rate set forth in the related Mortgage Note and indicated in the Mortgage Loan
Schedule.

            Liquidated Mortgage Loan: With respect to any Distribution Date, a
Defaulted Mortgage Loan (including any REO Property) that was liquidated in the
calendar month preceding the month of such Distribution Date and as to which the
related Servicer has certified (in accordance with this Agreement) that it has
received all proceeds it expects to receive in connection with the liquidation
of such Mortgage Loan including the final disposition of an REO Property.

            Liquidation Proceeds: Amounts, including Insurance Proceeds,
received in connection with the partial or complete liquidation of Defaulted
Mortgage Loans, whether through trustee's sale, foreclosure sale or otherwise or
amounts received in connection with any condemnation or partial release of a
Mortgaged Property and any other proceeds received in connection with an REO
Property, less the sum of related unreimbursed Servicing Fees and Advances.

            Loan Group:  Any of Loan Group 1, Loan Group 2, Loan Group 3 or
Loan Group 4.

            Loan Group 1:  The Group 1 Mortgage Loans.

            Loan Group 2:  The Group 2 Mortgage Loans.

            Loan Group 3:  The Group 3 Mortgage Loans.

            Loan Group 4:  The Group 4 Mortgage Loans.

            Loan-to-Value Ratio: With respect to any Mortgage Loan and any date
of determination, the fraction, expressed as a percentage, the numerator of
which is the outstanding principal balance of the related Mortgage Loan at the
date of determination and the denominator of which is the Appraised Value of the
related Mortgaged Property.

            Lost Note Affidavit: With respect to any Mortgage Loan as to which
the original Mortgage Note has been permanently lost or destroyed and has not
been replaced, an affidavit from the Seller certifying that the original
Mortgage Note has been lost, misplaced or destroyed (together with a copy of the
related Mortgage Note, if available, and indemnifying the Depositor and its
assignees against any loss, cost or liability resulting from the failure to
deliver the original Mortgage Note) in the form of Exhibit M hereto.

            Lower-Tier Distribution Amount: For any Distribution Date, the Pool
Distribution Amount for each Loan Group shall be deemed distributed to the
Upper-Tier REMIC, as the holder of the Uncertificated Lower-Tier Regular
Interests, and to Holders of the Class 1-A-R Certificates in respect of
Component I thereof, in the following amounts and priority:

            (a)   To the extent of the Pool Distribution Amount for Loan Group
1:

                  (i) first, to Uncertificated Lower-Tier Regular Interests Y-1
      and Z-1, concurrently, the Uncertificated Accrued Interest for such
      regular interests remaining unpaid from previous Distribution Dates, pro
      rata according to their respective shares of such unpaid amounts;

                  (ii) second, to Uncertificated Lower-Tier Regular Interests
      Y-1 and Z-1, concurrently, the Uncertificated Accrued Interest for such
      regular interests for the current Distribution Date, pro rata according to
      their respective Uncertificated Accrued Interest; and

                  (iii) third, to Uncertificated Lower-Tier Regular Interests
      Y-1 and Z-1, the Uncertificated Lower-Tier Regular Interest Y-1 Principal
      Distribution Amount and the Uncertificated Lower-Tier Regular Interest Z-1
      Principal Distribution Amount, respectively;

            (b)   To the extent of the Pool Distribution Amount for Loan Group
2:

                  (i) first, to Uncertificated Lower-Tier Regular Interests Y-2
      and Z-2, concurrently, the Uncertificated Accrued Interest for such
      regular interests remaining unpaid from previous Distribution Dates, pro
      rata according to their respective shares of such unpaid amounts;

                  (ii) second, to Uncertificated Lower-Tier Regular Interests
      Y-2 and Z-2, concurrently, the Uncertificated Accrued Interest for such
      regular interests for the current Distribution Date, pro rata according to
      their respective Uncertificated Accrued Interest; and

                  (iii) third, to Uncertificated Lower-Tier Regular Interests
      Y-2 and Z-2, the Uncertificated Lower-Tier Regular Interest Y-2 Principal
      Distribution Amount and the Uncertificated Lower-Tier Regular Interest Z-2
      Principal Distribution Amount, respectively;

            (c)   To the extent of the Pool Distribution Amount for Loan Group
3:

                  (i) first, to Uncertificated Lower-Tier Regular Interests Y-3
      and Z-3, concurrently, the Uncertificated Accrued Interest for such
      regular interests remaining unpaid from previous Distribution Dates, pro
      rata according to their respective shares of such unpaid amounts;

                  (ii) second, to Uncertificated Lower-Tier Regular Interests
      Y-3 and Z-3, concurrently, the Uncertificated Accrued Interest for such
      regular interests for the current Distribution Date, pro rata according to
      their respective Uncertificated Accrued Interest; and

                  (iii) third, to Uncertificated Lower-Tier Regular Interests
      Y-3 and Z-3, the Uncertificated Lower-Tier Regular Interest Y-3 Principal
      Distribution Amount and the Uncertificated Lower-Tier Regular Interest Z-3
      Principal Distribution Amount, respectively;

            (d)   To the extent of the Pool Distribution Amount for Loan Group
4:

                  (i) first, to Uncertificated Lower-Tier Regular Interests Y-4
      and Z-4, concurrently, the Uncertificated Accrued Interest for such
      regular interests remaining unpaid from previous Distribution Dates, pro
      rata according to their respective shares of such unpaid amounts;

                  (ii) second, to Uncertificated Lower-Tier Regular Interests
      Y-4 and Z-4, concurrently, the Uncertificated Accrued Interest for such
      regular interests for the current Distribution Date, pro rata according to
      their respective Uncertificated Accrued Interest; and

                  (iii) third, to Uncertificated Lower-Tier Regular Interests
      Y-4 and Z-4, the Uncertificated Lower-Tier Regular Interest Y-4 Principal
      Distribution Amount and the Uncertificated Lower-Tier Regular Interest Z-4
      Principal Distribution Amount, respectively; and

            (e)...To the extent of the Pool Distribution Amount for each Loan
Group for such Distribution Date remaining after payment of the amounts pursuant
to paragraphs (a) through (d) of this definition of "Lower-Tier Distribution
Amount":

                  (i) first, to each of the Uncertificated Lower-Tier Regular
      Interests, pro rata according to the amount of unreimbursed Realized
      Losses allocable to principal previously allocated to each such regular
      interests; provided, however, that any amounts distributed pursuant to
      this paragraph (e)(i) of this definition of "Lower-Tier Distribution
      Amount" shall not cause a reduction in the Uncertificated Principal
      Balances of any of the Uncertificated Lower-Tier Regular Interests; and

                  (ii) second, to the Class 1-A-R Certificates in respect of
      Component I thereof, any remaining amount.

            Lower-Tier Realized Losses: Realized Losses on each Loan Group shall
be allocated to the Uncertificated Lower-Tier Regular Interests as follows: (1)
the interest portion of Realized Losses on Group 1 Mortgage Loans, if any, shall
be allocated among Uncertificated Lower-Tier Regular Interests Y-1 and Z-1 pro
rata according to the amount of interest accrued but unpaid thereon, in
reduction thereof; (2) the interest portion of Realized Losses on Group 2
Mortgage Loans, if any, shall be allocated among Uncertificated Lower-Tier
Regular Interests Y-2 and Z-2 pro rata according to the amount of interest
accrued but unpaid thereon, in reduction thereof; (3) the interest portion of
Realized Losses on Group 3 Mortgage Loans, if any, shall be allocated among
Uncertificated Lower-Tier Regular Interests Y-3 and Z-3 pro rata according to
the amount of interest accrued but unpaid thereon, in reduction thereof; and (4)
the interest portion of Realized Losses on Group 4 Mortgage Loans, if any, shall
be allocated among Uncertificated Lower-Tier Regular Interests Y-4 and Z-4 pro
rata according to the amount of interest accrued but unpaid thereon, in
reduction thereof. Any interest portion of such Realized Losses in excess of the
amount allocated pursuant to the preceding sentence shall be treated as a
principal portion of Realized Losses not attributable to any specific Mortgage
Loan in such Loan Group and allocated pursuant to the succeeding sentences. The
principal portion of Realized Losses with respect to each Loan Group shall be
allocated to the Uncertificated Lower-Tier Regular Interests as follows: (1) the
principal portion of Realized Losses on Group 1 Mortgage Loans shall be
allocated, first, to Uncertificated Lower-Tier Regular Interest Y-1 to the
extent of the Uncertificated Lower-Tier Regular Interest Y-1 Principal Reduction
Amount in reduction of the Uncertificated Principal Balance of such regular
interest and, second, the remainder, if any, of such principal portion of such
Realized Losses shall be allocated to Uncertificated Lower-Tier Regular Interest
Z-1 in reduction of the Uncertificated Principal Balance thereof; (2) the
principal portion of Realized Losses on Group 2 Mortgage Loans shall be
allocated, first, to Uncertificated Lower-Tier Regular Interest Y-2 to the
extent of the Uncertificated Lower-Tier Regular Interest Y-2 Principal Reduction
Amount in reduction of the Uncertificated Principal Balance of such regular
interest and, second, the remainder, if any, of such principal portion of such
Realized Losses shall be allocated to Uncertificated Lower-Tier Regular Interest
Z-2 in reduction of the Uncertificated Principal Balance thereof; (3) the
principal portion of Realized Losses on Group 3 Mortgage Loans shall be
allocated, first, to Uncertificated Lower-Tier Regular Interest Y-3 to the
extent of the Uncertificated Lower-Tier Regular Interest Y-3 Principal Reduction
Amount in reduction of the Uncertificated Principal Balance of such regular
interest and, second, the remainder, if any, of such principal portion of such
Realized Losses shall be allocated to Uncertificated Lower-Tier Regular Interest
Z-3 in reduction of the Uncertificated Principal Balance thereof; and (4) the
principal portion of Realized Losses on Group 4 Mortgage Loans shall be
allocated, first, to Uncertificated Lower-Tier Regular Interest Y-4 to the
extent of the Uncertificated Lower-Tier Regular Interest Y-4 Principal Reduction
Amount in reduction of the Uncertificated Principal Balance of such regular
interest and, second, the remainder, if any, of such principal portion of such
Realized Losses shall be allocated to Uncertificated Lower-Tier Regular Interest
Z-4 in reduction of the Uncertificated Principal Balance thereof.

            Lower-Tier REMIC: As defined in the Preliminary Statement.

            MERS:  As defined in Section 2.01(b)(iii).

            Monthly Payment: The scheduled monthly payment on a Mortgage Loan
due on any Due Date allocable to principal and/or interest on such Mortgage Loan
which, unless otherwise specified herein, shall give effect to any related Debt
Service Reduction and any Deficient Valuation that affects the amount of the
monthly payment due on such Mortgage Loan.

            Moody's:  Moody's Investors Service, Inc. or any successor thereto.

            Mortgage: The mortgage, deed of trust or other instrument creating a
lien on a Mortgaged Property securing a Mortgage Note or creating a lien on a
leasehold interest.

            Mortgage File: The mortgage documents listed in Section 2.01
pertaining to a particular Mortgage Loan and any additional documents required
to be added to the Mortgage File pursuant to this Agreement.

            Mortgage Interest Rate: As to any Mortgage Loan, the per annum rate
of interest at which interest accrues on the principal balance of such Mortgage
Loan, as adjusted from time to time in accordance with the provisions of the
related Mortgage Note, which rate is (a) prior to the first Rate Adjustment Date
for each such Mortgage Loan, the Mortgage Interest Rate for such Mortgage Loan
indicated on the Mortgage Loan Schedule and (b) from and after such Rate
Adjustment Date, sum of the Index, as of the Rate Adjustment Date applicable to
such Due Date, and the Gross Margin, rounded as set forth in such Mortgage Note,
subject to the Initial Cap, Periodic Cap and the Lifetime Cap applicable to such
Mortgage Loan at any time during the life of such Mortgage Loan.

            Mortgage Loan Purchase Agreement: The Mortgage Loan Purchase
Agreement, dated August 24, 2005, between Wachovia Bank, National Association,
as seller, and the Depositor, as purchaser.

            Mortgage Loan Schedule: The list of Mortgage Loans (as from time to
time amended by the applicable Servicer to reflect the addition of Substitute
Mortgage Loans and the deletion of Defective Mortgage Loans pursuant to the
provisions of this Agreement) attached hereto as Exhibit D-1, Exhibit D-2,
Exhibit D-3 and Exhibit D-4. The Mortgage Loan Schedule shall set forth the
following information with respect to each Mortgage Loan: (i) the Mortgage Loan
identifying number; (ii) a code indicating whether the Mortgaged Property is
owner-occupied; (iii) the property type for each Mortgaged Property; (iv) the
original months to maturity or the remaining months to maturity from the Cut-Off
Date; (v) the Loan-to-Value Ratio as of the Cut-off Date; (vi) the Mortgage
Interest Rate as of the Cut-off Date; (vii) the date on which the first Monthly
Payment was due on the Mortgage Loan, and, if such date is not the Due Date
currently in effect, such Due Date; (viii) the stated maturity date; (ix) the
amount of the Monthly Payment as of the Cut-Off Date; (x) the paid-through date;
(xi) the original principal amount of the Mortgage Loan; (xii) the principal
balance of the Mortgage Loan as of the close of business on the Cut-Off Date,
after application of payments of principal due on or before the Cut-Off Date,
whether or not collected, and after deduction of any payments collected of
scheduled principal due after the Cut-Off Date; (xiii) a code indicating the
purpose of the Mortgage Loan; (xiv) a code indicating the documentation style;
(xv) the Appraised Value; (xvi) the first Rate Adjustment Date; (xvii) the Rate
Ceiling; (xviii) the Initial Cap; (xix) the Periodic Cap; (xx) the Gross Margin;
and (xxi) the closing date of such Mortgage Loan. With respect to the Mortgage
Loans in each Loan Group in the aggregate, the Mortgage Loan Schedule shall set
forth the following information, as of the Cut-Off Date: (i) the number of
Mortgage Loans; (ii) the current aggregate outstanding principal balance of the
Mortgage Loans; (iii) the weighted average Mortgage Interest Rate of the
Mortgage Loans; and (iv) the weighted average months to maturity of the Mortgage
Loans.

            Mortgage Loans:  The mortgage loans identified in the Mortgage
Loan Schedule.

            Mortgage Note: The originally executed note or other evidence of
indebtedness evidencing the indebtedness of a Mortgagor under a Mortgage Loan,
together with all riders thereto and amendments thereof.

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

            Mortgagor:  The obligor on a Mortgage Note.

            National City:  As defined in the recitals hereto.

            Net Mortgage Interest Rate: As to any Mortgage Loan and any
Distribution Date, such Mortgage Loan's Mortgage Interest Rate thereon on the
first day of the month preceding the month of the related Distribution Date
reduced by the Servicing Fee Rate and the Certificate Administrator Fee Rate.

            Net WAC: As to any Loan Group and any Distribution Date, the
weighted average of the Net Mortgage Interest Rates of the Mortgage Loans in
such Loan Group (based on Stated Principal Balances of the Mortgage Loans in
such Loan Group on the Due Date in the month preceding the month of such
Distribution Date).

            Non-Supported Interest Shortfalls: As to any Distribution Date, the
amount, if any, by which the aggregate of Prepayment Interest Shortfalls exceeds
Compensating Interest for such Distribution Date.

            Non-U.S. Person: A Person other than a U.S. Person.

            Nonrecoverable Advance: Any portion of an Advance previously made or
proposed to be made in respect of a Mortgage Loan which has not been previously
reimbursed and which, in the good faith judgment of the Servicer servicing such
Mortgage Loan, will not or, in the case of a proposed Advance, would not be
ultimately recoverable from the related Mortgagor, related Liquidation Proceeds,
or other recoveries in respect of the related Mortgage Loan.

            Officer's Certificate: A certificate signed by the Chairman of the
Board, Vice Chairman of the Board, President or a Vice President and by the
Treasurer, the Secretary or one of the Assistant Treasurers or Assistant
Secretaries, or any other duly authorized officer of the Depositor or a
Servicer, as the case may be, and delivered to the Trustee or the Certificate
Administrator, as the case may be.

            Opinion of Counsel: A written opinion of counsel acceptable to the
Trustee if such opinion is delivered to the Trustee or acceptable to the
Certificate Administrator if such opinion is delivered to the Certificate
Administrator, who may be counsel for the Depositor or a Servicer, except that
any opinion of counsel relating to the qualification of the Upper-Tier REMIC or
the Lower-Tier REMIC as a REMIC or compliance with the REMIC Provisions must be
an opinion of Independent counsel.

            Original Fractional Interest: With respect to each of the following
Classes of Subordinate Certificates, the corresponding percentage described
below, as of the Closing Date:

                       Class B-1               2.25%
                       Class B-2               1.50%
                       Class B-3               1.00%
                       Class B-4               0.55%
                       Class B-5               0.20%
                       Class B-6               0.00%

            Original Subordinate Certificate Balance: $19,065,793.92.

            OTS:  The Office of Thrift Supervision.

            Outstanding Mortgage Loan: As to any Due Date, a Mortgage Loan which
was not the subject of a Principal Prepayment in Full prior to such Due Date,
which did not become a Liquidated Mortgage Loan prior to such Due Date and which
was not purchased from the Trust prior to such Due Date pursuant to Sections
2.02 or 2.04.

            Ownership Interest: As to any Certificate, any ownership or security
interest in such Certificate, including any interest in such Certificate as the
Holder thereof and any other interest therein, whether direct or indirect, legal
or beneficial, as owner or as pledgee.

            Pass-Through Rate: As to each Class of interest-bearing
Certificates, the per annum rate set forth in the Preliminary Statement.

            Paying Agent:  As defined in Section 9.13.

            Percentage Interest: As to any Certificate, the percentage obtained
by dividing the initial Certificate Balance of such Certificate by the Initial
Class Certificate Balance of the Class of which such Certificate is a part.

            Periodic Advance: The payment required to be made by a Servicer with
respect to any Distribution Date pursuant to Section 3.20, the amount of any
such payment being equal to the aggregate of Monthly Payments (net of the
Servicing Fee for such Servicer) on the Mortgage Loans serviced by such Servicer
(including any REO Property) that were due on the related Due Date and not
received as of the close of business on the related Determination Date, less the
aggregate amount of any such delinquent payments that such Servicer has
determined would constitute a Nonrecoverable Advance if advanced.

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

            Permitted Investments:  One or more of the following:

(i)  obligations  of or  guaranteed  as to principal  and interest by the United
     States,  FHLMC, FNMA or any agency or  instrumentality of the United States
     when such obligations are backed by the full faith and credit of the United
     States; provided that such obligations of FHLMC or FNMA shall be limited to
     senior debt obligations and mortgage participation  certificates other than
     investments in  mortgage-backed or mortgage  participation  securities with
     yields evidencing extreme  sensitivity to the rate of principal payments on
     the underlying mortgages,  which shall not constitute Permitted Investments
     hereunder;

(ii) repurchase  agreements on obligations  specified in clause (i) maturing not
     more than one month from the date of acquisition thereof with a corporation
     incorporated under the laws of the United States or any state thereof rated
     not lower than "A-1+" by S&P, "F-1" by Fitch and "P-1" by Moody's;

(iii) federal funds, certificates of deposit, demand deposits, time deposits and
     bankers'  acceptances  (which  shall each have an original  maturity of not
     more than 90 days and,  in the case of  bankers'  acceptances,  shall in no
     event  have an  original  maturity  of more  than 365  days or a  remaining
     maturity of more than 30 days)  denominated in United States dollars of any
     U.S.  depository  institution  incorporated  under  the laws of the  United
     States or any state  thereof,  rated not lower than "A-1+" by S&P, "F-1" by
     Fitch and "P-1" by Moody's;

(iv) commercial paper (having original  maturities of not more than 365 days) of
     any  corporation  incorporated  under the laws of the United  States or any
     state thereof  which is rated not lower than "A-1+" by S&P,  "F-1" by Fitch
     and "P-1" by Moody's;

(v)  investments  in money market  funds  (including  funds of the  institutions
     acting as Trustee or Certificate  Administrator or its affiliates, or funds
     for which an affiliate of the institutions acting as Trustee or Certificate
     Administrator acts as advisor,  as well as funds for which the institutions
     acting  as  Trustee  or  Certificate   Administrator   and  its  respective
     affiliates  may receive  compensation)  rated either "AAA" by S&P, "AAA" by
     Fitch and "Aaa" by Moody's or otherwise  approved in writing by each Rating
     Agency; and

(vi) other  obligations or securities  that are acceptable to each Rating Agency
     (but which, in no event,  are rated below the top two rating  categories by
     each Rating Agency) and, as evidenced by an Opinion of Counsel  obtained by
     the Servicers, will not affect the qualification of the Upper-Tier REMIC or
     the Lower-Tier REMIC as a REMIC;

provided, however, that no instrument shall be a Permitted Investment if it
represents either (a) the right to receive only interest payments with respect
to the underlying debt instrument or (b) the right to receive both principal and
interest payments derived from obligations underlying such instrument and the
principal and interest with respect to such instrument provide a yield to
maturity greater than 120% of the yield to maturity at par of such underlying
obligations.

            Permitted Transferee: Any Person other than (i) the United States,
or any State or any political subdivision thereof, or any agency or
instrumentality of any of the foregoing, (ii) a foreign government,
international organization or any agency or instrumentality of either of the
foregoing, (iii) an organization which is exempt from tax imposed by Chapter 1
of the Code (including the tax imposed by Section 511 of the Code on unrelated
business taxable income) (except certain farmers' cooperatives described in Code
Section 521), (iv) rural electric and telephone cooperatives described in Code
Section 1381(a)(2)(C), (v) a U.S. Person with respect to whom income is
attributable to a foreign permanent establishment or fixed base (within the
meaning of an applicable income tax treaty) of such Person or any other Person
and (vi) any other Person so designated by the Servicer based on an Opinion of
Counsel to the effect that any transfer to such Person may cause the Trust or
any other Holder of a Residual Certificate to incur tax liability that would not
be imposed other than on account of such transfer. The terms "United States,"
"State" and "international organization" shall have the meanings set forth in
Code Section 7701 or successor provisions.

            Person: Any individual, corporation, limited liability company,
partnership, joint venture, association, joint-stock company, trust,
unincorporated organization or government or any agency or political subdivision
thereof, or any other entity or organization, whether or not a legal entity.

            Physical  Certificates:  The Class  1-A-R,  Class  B-4,  Class B-5
and Class B-6 Certificates.

            Plan:  As defined in Section 6.02(e).

            Pool Distribution Amount: As to any Distribution Date and Loan
Group, the excess of (a) the sum of (i) the aggregate of (A) the interest
portion of any Monthly Payment on a Mortgage Loan in such Loan Group (net of the
Servicing Fee for the Servicer of such Loan Group) and the principal portion of
any Monthly Payment on a Mortgage Loan in such Loan Group due on the Due Date in
the month in which such Distribution Date occurs and which is received prior to
the related Determination Date and (B) all Periodic Advances and payments of
Compensating Interest made by such Servicer in respect of such Loan Group and
Distribution Date deposited to the Servicer Custodial Account pursuant to
Section 3.08(b)(vii); (ii) all Liquidation Proceeds received on the Mortgage
Loans in such Loan Group during the preceding calendar month and deposited to
the applicable Servicer Custodial Account pursuant to Section 3.08(b)(iii);
(iii) all Principal Prepayments received on the Mortgage Loans in such Loan
Group during the month preceding the month of such Distribution Date and
deposited to the applicable Servicer Custodial Account pursuant to Section
3.08(b)(i) during such period; (iv) in connection with Defective Mortgage Loans
in such Loan Group, as applicable, the aggregate of the Repurchase Prices and
Substitution Adjustment Amounts deposited on the related Remittance Date
pursuant to Section 3.08(b)(vi); (v) any other amounts in the applicable
Servicer Custodial Account deposited therein pursuant to Sections 3.08(b)(iv),
(v) and (viii) in respect of such Distribution Date and such Loan Group; and
(vi) any Subsequent Recovery with respect to such Distribution Date over (b) any
(i) amounts permitted to be withdrawn from the applicable Servicer Custodial
Account pursuant to clauses (i) through (ix), inclusive, of Section 3.11(a) in
respect of such Loan Group and (ii) amounts permitted to be withdrawn from the
Certificate Account pursuant to clauses (i) and (ii) of Section 3.11(b) in
respect of such Loan Group.

            Pool Stated Principal Balance: As to any Distribution Date and Loan
Group, the aggregate Stated Principal Balances of all Mortgage Loans in such
Loan Group that were Outstanding Mortgage Loans immediately following the Due
Date in the month preceding the month in which such Distribution Date occurs.

            Prepayment Interest Shortfall: As to any Distribution Date and each
Mortgage Loan subject to a Principal Prepayment received during the calendar
month preceding such Distribution Date, the amount, if any, by which one month's
interest at the related Mortgage Interest Rate (net of the Servicing Fee for the
Servicer servicing such Mortgage Loan) on such Principal Prepayment exceeds the
amount of interest paid in connection with such Principal Prepayment.

            Primary Insurance Policy: Each policy of primary mortgage guaranty
insurance or any replacement policy therefor with respect to any Mortgage Loan,
in each case issued by an insurer acceptable to FNMA or FHLMC.

            Principal Amount: As to any Distribution Date and a Loan Group, the
sum of (a) the principal portion of each Monthly Payment due on each Mortgage
Loan in such Loan Group on the related Due Date, (b) the principal portion of
the Repurchase Price of each Mortgage Loan in such Loan Group that was
repurchased by the Depositor pursuant to this Agreement as of such Distribution
Date, (c) any Substitution Adjustment Amount in connection with a Defective
Mortgage Loan in such Loan Group received with respect to such Distribution
Date, (d) any Liquidation Proceeds allocable to recoveries of principal of
Mortgage Loans in such Loan Group that are not yet Liquidated Mortgage Loans
received during the calendar month preceding the month of such Distribution
Date, (e) with respect to each Mortgage Loan in such Loan Group that became a
Liquidated Mortgage Loan during the calendar month preceding the month of such
Distribution Date, the amount of Liquidation Proceeds (excluding Excess
Proceeds) allocable to principal received with respect to such Mortgage Loan
during the calendar month preceding the month of such Distribution Date, (f) any
Subsequent Recoveries for such Distribution Date, and (g) all Principal
Prepayments on the Mortgage Loans in such Loan Group received during the
calendar month preceding the month of such Distribution Date.

            Principal Prepayment: Any payment or other recovery of principal on
a Mortgage Loan (other than Liquidation Proceeds) which is received in advance
of its scheduled Due Date and is not accompanied by an amount of interest
representing scheduled interest due on any date in any month subsequent to the
month of prepayment.

            Principal Prepayment in Full: Any Principal Prepayment of the entire
principal balance of a Mortgage Loan.

            Private Certificates:  The Class B-4, Class B-5 and Class B-6
Certificates.

            Pro Rata Share: As to any Distribution Date and any Class of
Subordinate Certificates that is not a Restricted Class, the portion of the
Subordinate Principal Distribution Amount allocable to such Class, equal to the
product of the Subordinate Principal Distribution Amount for such Distribution
Date and a fraction, the numerator of which is the related Class Certificate
Balance thereof and the denominator of which is the aggregate Class Certificate
Balance of the Subordinate Certificates that are not Restricted Classes. Solely
with respect to Unscheduled Principal Payments, the Pro Rata Share of a
Restricted Class shall be 0%. The Pro Rata Share of a Class of Subordinate
Certificates may be computed for each of clause (i) and clause (ii) of the
definition of "Subordinate Principal Distribution Amount" in the event the
Restricted Classes differ with respect to each clause.

            Qualified Appraiser: An appraiser of a Mortgaged Property duly
appointed by the originator of the related Mortgage Loan, who had no interest,
direct or indirect, in such Mortgaged Property or in any loan made on the
security thereof, whose compensation is not affected by the approval or
disapproval of the related Mortgage Loan and who met the minimum qualifications
of FNMA or FHLMC.

            Rate Adjustment Date: As to each Mortgage Loan, the Due Date on
which an adjustment to the Mortgage Interest Rate of such Mortgage Loan becomes
effective under the related Mortgage Note, which Due Date is the date set forth
in the Mortgage Loan Schedule as the first Rate Adjustment Date and each
subsequent anniversary thereof.

            Rate Ceiling: The maximum per annum Mortgage Interest Rate permitted
under the related Mortgage Note.

            Rating Agency: Each of S&P and Fitch. If any such organization or a
successor is no longer in existence, "Rating Agency" shall be such nationally
recognized statistical rating organization, or other comparable Person, as is
designated by the Depositor, notice of which designation shall be given to the
Certificate Administrator and the Trustee. References herein to a given rating
or rating category of a Rating Agency shall mean such rating category without
giving effect to any modifiers.

            Realized Loss: With respect to each Liquidated Mortgage Loan, an
amount as of the date of such liquidation, equal to (i) the unpaid principal
balance of the Liquidated Mortgage Loan as of the date of such liquidation, plus
(ii) interest at the Net Mortgage Interest Rate from the Due Date as to which
interest was last paid to Certificateholders up to the Due Date in the month in
which Liquidation Proceeds are required to be distributed on the Stated
Principal Balance of such Liquidated Mortgage Loan from time to time, minus
(iii) the Liquidation Proceeds, if any, received during the month in which such
liquidation occurred, to the extent applied as recoveries of interest at the Net
Mortgage Interest Rate and to principal of the Liquidated Mortgage Loan. With
respect to each Mortgage Loan that has become the subject of a Deficient
Valuation, if the principal amount due under the related Mortgage Note has been
reduced, the difference between the principal balance of the Mortgage Loan
outstanding immediately prior to such Deficient Valuation and the principal
balance of the Mortgage Loan as reduced by the Deficient Valuation. With respect
to each Mortgage Loan that has become the subject of a Debt Service Reduction
and any Distribution Date, the amount, if any, by which the principal portion of
the related Monthly Payment has been reduced.

            Record Date: The last day of the month (or, if such day is not a
Business Day, the preceding Business Day) preceding the month of the related
Distribution Date.

            Refinance Mortgage Loan: Any Mortgage Loan the proceeds of which
were not used to purchase the related Mortgaged Property.

            Regular Certificates:  As defined in the Preliminary Statement
hereto.

            Related Group: With respect to Loan Group 1, means Group 1; with
respect to Loan Group 2, means Group 2; with respect to Loan Group 3, means
Group 3; and with respect to Loan Group 4, means Group 4.

            Related Loan Group: With respect to the Group 1-A Certificates, Loan
Group 1, with respect to the Group 2-A Certificates, Loan Group 2, with respect
to the Group 3-A Certificates, Loan Group 3, and with respect to the Group 4-A
Certificates, Loan Group 4.

            Relief Act:  The Servicemembers' Civil Relief Act, as amended.

            Relief Act Reduction: With respect to any Distribution Date, for any
Mortgage Loan as to which there has been a reduction in the amount of interest
collectible thereon for the most recently ended calendar month as a result of
the application of the Relief Act or comparable state legislation, the amount,
if any, by which (i) interest collectible on such Mortgage Loan for the most
recently ended calendar month is less than (ii) interest accrued pursuant to the
terms of the Mortgage Note on the same principal amount and for the same period
as the interest collectible on such Mortgage Loan for the most recently ended
calendar month.

            REMIC: A "real estate mortgage investment conduit" within the
meaning of Section 860D of the Code.

            REMIC Certificate Maturity Date: The "latest possible maturity date"
of the Regular Certificates as that term is defined in Section 2.08.

            REMIC Provisions: Provisions of the federal income tax law relating
to real estate mortgage investment conduits, which appear at Section 860A
through 860G of Subchapter M of Chapter 1 of the Code, and related provisions,
and regulations promulgated thereunder, as the foregoing may be in effect from
time to time, as well as provisions of applicable state laws.

            Remittance Date: As to any Distribution Date, by 2:00 p.m. Eastern
time on the second Business Day immediately preceding such Distribution Date.

            REO Proceeds: Proceeds, net of any related expenses of the Servicer,
received in respect of any REO Property (including, without limitation, proceeds
from the rental of the related Mortgaged Property) which are received prior to
the final liquidation of such Mortgaged Property.

            REO Property: A Mortgaged Property acquired by the Servicer on
behalf of the Trust through foreclosure or deed-in-lieu of foreclosure in
connection with a Defaulted Mortgage Loan.

            Repurchase Price: As to any Defective Mortgage Loan repurchased on
any date pursuant to Sections 2.02 or 2.04, an amount equal to the sum of (i)
the unpaid principal balance thereof, (ii) the unpaid accrued interest thereon
at the applicable Mortgage Interest Rate from the Due Date to which interest was
last paid by the Mortgagor to the first day of the month following the month in
which such Mortgage Loan became required to be repurchased, and (iii) any costs
and damages incurred by the Trust in connection with a breach of the
representation contained in Section 7(iii) of the Mortgage Loan Purchase
Agreement as a result of any violation of any predatory or abusive lending law
with respect to such Mortgage Loan.

            Request for Release: The Request for Release submitted by the
Servicer to the Custodian, substantially in the form of Exhibit E.

            Required Insurance Policy: With respect to any Mortgage Loan, any
insurance policy which is required to be maintained from time to time under this
Agreement in respect of such Mortgage Loan.

            Residual Certificates:  The Class 1-A-R Certificates.

            Responsible Officer: When used with respect to the Trustee or the
Certificate Administrator, any officer of the Corporate Trust Department of the
Trustee or Certificate Administrator, as the case may be, including any Senior
Vice President, any Vice President, any Assistant Vice President, any Assistant
Secretary, any Trust Officer or Assistant Trust Officer, or any other officer of
the Trustee or Certificate Administrator, as the case may be, customarily
performing functions similar to those performed by any of the above designated
officers and, in each case, having responsibility for the administration of this
Agreement.

            Restricted Classes:  As defined in Section 5.02(d).

            S&P: Standard & Poor's, a Division of The McGraw-Hill Companies,
Inc., and its successors in interest.

            Seller:  Wachovia Bank,  National  Association,  as seller of the
Mortgage Loans under the Mortgage Loan Purchase Agreement.

            Senior Certificates:  The Class A Certificates.

            Senior Credit  Support  Depletion  Date:  The date on which the
aggregate Class Certificate Balance of the Subordinate Certificates is reduced
to zero.

            Senior Percentage: With respect to any Distribution Date and a Loan
Group, the percentage, carried six places rounded up, obtained by dividing the
aggregate Class Certificate Balance of the Senior Certificates of the Related
Loan Group immediately prior to such Distribution Date by the Pool Stated
Principal Balance of such Loan Group immediately prior to such Distribution
Date.

            Senior Prepayment Percentage: For any Distribution Date and a Loan
Group during the seven years beginning on the first Distribution Date, 100%. The
Senior Prepayment Percentage for any Distribution Date and a Loan Group
occurring on or after the seven year anniversary of the first Distribution Date
will, except as provided herein, be as follows: for any Distribution Date in the
first year thereafter, the Senior Percentage for such Loan Group plus 70% of the
Subordinate Percentage for such Loan Group for such Distribution Date; for any
Distribution Date in the second year thereafter, the Senior Percentage for such
Loan Group plus 60% of the Subordinate Percentage for such Loan Group for such
Distribution Date; for any Distribution Date in the third year thereafter, the
Senior Percentage for such Loan Group plus 40% of the Subordinate Percentage for
such Loan Group for such Distribution Date; for any Distribution Date in the
fourth year thereafter, the Senior Percentage for such Loan Group plus 20% of
the Subordinate Percentage for such Loan Group for such Distribution Date; and
for any Distribution Date in the fifth or later years thereafter, the Senior
Percentage for such Loan Group for such Distribution Date (unless on any of the
foregoing Distribution Dates the Total Senior Percentage exceeds the initial
Total Senior Percentage, in which case the Senior Prepayment Percentage for Loan
Group 1, Loan Group 2, Loan Group 3 and Loan Group 4 for such Distribution Date
will once again equal 100%); provided, however, if on any Distribution Date
prior to the September 2008 Distribution Date, prior to giving effect to any
distributions, the Aggregate Subordinate Percentage is greater than or equal to
twice such percentage calculated as of the Closing Date, then the Senior
Prepayment Percentage for each Loan Group for such Distribution Date will equal
the Senior Percentage for such Loan Group plus 50% of the Subordinate Percentage
for such Loan Group; provided further, however, if on or after the September
2008 Distribution Date, prior to giving effect to any distributions, the
Aggregate Subordinate Percentage is greater than or equal to twice such
percentage calculated as of the Closing Date, then the Senior Prepayment
Percentage for each Loan Group for such Distribution Date will equal the Senior
Percentage for such Loan Group. Notwithstanding the foregoing, no decrease in
the Senior Prepayment Percentage for any Loan Group will occur unless both of
the Senior Step Down Conditions are satisfied.

            Senior Principal Distribution Amount: As to any Distribution Date
and Loan Group, the sum of (i) the Senior Percentage for such Loan Group of the
amounts described in clauses (a) through (d) of the definition of "Principal
Amount" for such Distribution Date and Loan Group and (ii) the Senior Prepayment
Percentage for such Loan Group of the amounts described in clauses (e), (f) and
(g) of the definition of "Principal Amount" for such Distribution Date and Loan
Group.

            Senior Step Down Conditions: As of any Distribution Date as to which
any decrease in the Senior Prepayment Percentage for any Loan Group applies, (i)
the outstanding principal balance of all Mortgage Loans (including, for this
purpose, any Mortgage Loans in foreclosure or any REO Property) delinquent 60
days or more (averaged over the preceding six month period), as a percentage of
the aggregate Class Certificate Balance of the Subordinate Certificates, is not
equal to or greater than 50% or (ii) cumulative Realized Losses with respect to
the Mortgage Loans as of the applicable Distribution Date do not exceed the
percentages of the Original Subordinate Certificate Balance set forth below:

                                                Percentage of
                                             Original Subordinate
Distribution Date Occurring                  Certificate Balance

September 2005 through August 2008                   20%

September 2008 through August 2013                   30%

September 2013 through August 2014                   35%

September 2014 through August 2015                   40%

September 2015 through August 2016                   45%

September 2016 and thereafter                        50%

            Servicers: Wells Fargo, with respect to the Loan Group 2, and
National City, with respect to Loan Group 1, Loan Group 3 and Loan Group 4, or,
in either case, its successor in interest, in its capacity as servicer of the
related Loan Group, or any successor servicer appointed as herein provided.

            Servicer Advance Date: As to any Distribution Date, 11:30 a.m.,
Eastern time, on the Business Day immediately preceding such Distribution Date.

            Servicer Custodial Account: Each separate Eligible Account or
Accounts created and maintained by the Servicers pursuant to Section 3.08(b).

            Servicer's Certificate:  The Monthly Report required by
Section 4.01.

            Servicing Advances: All customary, reasonable and necessary "out of
pocket" costs and expenses incurred in the performance by a Servicer of its
servicing obligations, including, but not limited to (i) the preservation,
restoration and protection of a Mortgaged Property, (ii) expenses reimbursable
to such Servicer pursuant to Section 3.14 and any enforcement or judicial
proceedings, including foreclosures, (iii) the management and liquidation of any
REO Property and (iv) compliance with the obligations under Section 3.12.

            Servicing Fee: With respect to each Mortgage Loan and Distribution
Date, the amount of the fee payable to the Servicer servicing such Mortgage
Loan, which shall, for such Distribution Date, be equal to one-twelfth of the
product of the Servicing Fee Rate with respect to such Mortgage Loan and the
Stated Principal Balance of such Mortgage Loan, subject to reduction as provided
in Section 3.17. Such fee shall be payable monthly, computed on the basis of the
same Stated Principal Balance and period respecting which any related interest
payment on a Mortgage Loan is computed. A Servicer's right to receive the
Servicing Fee for Mortgage Loans serviced by such Servicer is limited to, and
payable solely from, the interest portion (including recoveries with respect to
interest from Liquidation Proceeds and other proceeds, to the extent permitted
by Section 3.11) of related Monthly Payments collected by such Servicer, or as
otherwise provided under Section 3.11.

            Servicing Fee Rate: With respect to each Mortgage Loan, 0.25% per
annum with respect to any Mortgage Loan.

            Servicing File: The items pertaining to a particular Mortgage Loan
referred to in Exhibit J hereto, and any additional documents required to be
added to the Servicing File pursuant to the Agreement.

            Servicing Officer: Any officer of a Servicer involved in, or
responsible for, the administration and servicing of the related Mortgage Loans
whose name appears on a list of servicing officers furnished to the Certificate
Administrator and the Trustee by such Servicer as such list may from time to
time be amended.

            Similar Law:  As defined in Section 6.02(e).

            Stated Principal Balance: As to any Mortgage Loan and date, the
unpaid principal balance of such Mortgage Loan as of the Due Date immediately
preceding such date as specified in the amortization schedule at the time
relating thereto (before any adjustment to such amortization schedule by reason
of any moratorium or similar waiver or grace period) after giving effect to any
previous partial Principal Prepayments and Liquidation Proceeds allocable to
principal (other than with respect to any Liquidated Mortgage Loan) and to the
payment of principal due on such Due Date and irrespective of any delinquency in
payment by the related Mortgagor, and after giving effect to any Deficient
Valuation, plus any amounts capitalized as a result of modifications to such
Mortgage Loan pursuant to Section 3.21.

            Subordinate Certificates:  The Class B Certificates.

            Subordinate  Percentage:  As of any Distribution Date and Loan
Group, 100% minus the Senior Percentage for such Loan Group for such
Distribution Date.

            Subordinate Prepayment  Percentage:  As to any Distribution Date and
Loan Group, 100% minus the Senior Prepayment Percentage for such Loan Group for
such Distribution Date.

            Subordinate Principal Distribution Amount: With respect to any
Distribution Date and Loan Group, an amount equal to the sum of (i) the
Subordinate Percentage for such Loan Group of all amounts described in clauses
(a) through (d) of the definition of "Principal Amount" for such Distribution
Date and Loan Group and (ii) the Subordinate Prepayment Percentage of the
amounts described in clauses (e), (f) and (g) of the definition of "Principal
Amount" for such Distribution Date and Loan Group.

            Subsequent Recovery: As to any Distribution Date and Loan Group, the
sum of all amounts received during the calendar month preceding the month of
such Distribution Date on each Mortgage Loan in such Loan Group subsequent to
such Mortgage Loan being determined to be a Liquidated Mortgage Loan.

            Subservicer: Any Person with which a Servicer has entered into a
Subservicing Agreement and which satisfies the requirements set forth therein.

            Subservicing Agreement: Any subservicing agreement (which, in the
event the Subservicer is an affiliate of the related Servicer, need not be in
writing) between a Servicer and any Subservicer relating to servicing and/or
administration of certain Mortgage Loans as provided in Section 3.02.

            Substitute Mortgage Loan: A Mortgage Loan substituted for a
Defective Mortgage Loan which must, on the date of such substitution (i) have a
Stated Principal Balance, after deduction of the principal portion of the
Monthly Payment due in the month of substitution, not in excess of, and not more
than 10% less than, the Stated Principal Balance of the Defective Mortgage Loan;
(ii) have a Net Mortgage Interest Rate equal to that of the Defective Mortgage
Loan; (iii) have a Loan-to-Value Ratio not higher than that of the Defective
Mortgage Loan; (iv) have a Gross Margin equal to that of the Defective Mortgage
Loan; (v) have an Initial Cap, a Periodic Cap and Rate Ceiling equal to that of
the Defective Mortgage Loan; (vi) have the same Index and frequency of mortgage
interest rate adjustment as the Deleted Mortgage Loan; (vii) have a remaining
term to maturity not greater than (and not more than one year less than) that of
the Defective Mortgage Loan; and (viii) comply, as of the date of substitution,
with each Mortgage Loan representation and warranty set forth in this Agreement
relating to the Defective Mortgage Loan. More than one Substitute Mortgage Loan
may be substituted for a Defective Mortgage Loan if such Substitute Mortgage
Loans meet the foregoing attributes in the aggregate.

            Substitution Adjustment Amount:  As defined in Section 2.02.

            Tax Matters Person: Any person designated as "tax matters person" in
accordance with Section 5.06 and the manner provided under Treasury Regulation
ss. 1.860F-4(d) and Treasury Regulation ss. 301.6231(a)(7)-1.

            Total Senior Percentage: With respect to any Distribution Date, the
percentage, carried six places rounded up, obtained by dividing the aggregate
Class Certificate Balance of the Class A Certificates immediately prior to such
Distribution Date by the aggregate Pool Stated Principal Balance of all Loan
Groups immediately prior to such Distribution Date.

            Treasury Regulations: The final and temporary regulations
promulgated under the Code by the U.S. Department of the Treasury.

            Trust:  The trust created by this Agreement.

            Trust Estate: The Mortgage Loans, such assets as shall from time to
time be identified as deposited in the Servicer Custodial Account or the
Certificate Account, in accordance with this Agreement, REO Property, the
Primary Insurance Policies and any other Required Insurance Policy.

            Trustee: U.S. Bank National  Association,  and its  successors-in-
interest and, if a successor trustee is appointed hereunder, such successor, as
trustee.

            Uncertificated Accrued Interest: With respect to any Uncertificated
Lower-Tier Regular Interest for any Distribution Date, one month's interest at
the related Uncertificated Pass-Through Rate for such Distribution Date, accrued
on the Uncertificated Principal Balance immediately prior to such Distribution
Date. Uncertificated Accrued Interest for the Uncertificated Lower-Tier Regular
Interests shall accrue on the basis of a 360-day year consisting of twelve
30-day months. For purposes of calculating the amount of Uncertificated Accrued
Interest for the Uncertificated Lower-Tier Regular Interests for any
Distribution Date, any Prepayment Interest Shortfalls or Relief Act Reduction
(to the extent not covered by Compensating Interest) shall be allocated among
the Uncertificated Lower-Tier Regular Interests, pro rata, based on, and to the
extent of, Uncertificated Accrued Interest, as calculated without application of
this sentence.

            Uncertificated  Lower-Tier  Regular  Interests:  As defined  in the
Preliminary Statement.

            Uncertificated Lower-Tier Regular Interest Y Principal Reduction
Amounts: For any Distribution Date, the amounts by which the Uncertificated
Principal Balances of Uncertificated Lower-Tier Regular Interests Y-1, Y-2, Y-3
and Y-4 will be reduced on such Distribution Date by the allocation of Realized
Losses and the distribution of principal, determined as described in Appendix 1.

            Uncertificated Lower-Tier Regular Interest Y-1: A regular interest
in the Lower-Tier REMIC that is held as an asset of the Upper-Tier REMIC, that
has an initial principal balance equal to the related Uncertificated Principal
Balance, that bears interest at the related Uncertificated Pass-Through Rate,
and that has such other terms as are described herein.

            Uncertificated Lower-Tier Regular Interest Y-1 Principal
Distribution Amount: For any Distribution Date, the excess, if any, of the
Uncertificated Lower-Tier Regular Interest Y-1 Principal Reduction Amount for
such Distribution Date over the Realized Losses allocated to Uncertificated
Lower-Tier Regular Interest Y-1 on such Distribution Date in reduction of the
Uncertificated Principal Balance thereof.

            Uncertificated Lower-Tier Regular Interest Y-1 Principal Reduction
Amount: The Uncertificated Lower-Tier Regular Interest Y Principal Reduction
Amount for Uncertificated Lower-Tier Regular Interest Y-1 as determined pursuant
to the provisions of Appendix 1.

            Uncertificated Lower-Tier Regular Interest Y-2: A regular interest
in the Lower-Tier REMIC that is held as an asset of the Upper-Tier REMIC, that
has an initial principal balance equal to the related Uncertificated Principal
Balance, that bears interest at the related Uncertificated Pass-Through Rate,
and that has such other terms as are described herein.

            Uncertificated Lower-Tier Regular Interest Y-2 Principal
Distribution Amount: For any Distribution Date, the excess, if any, of the
Uncertificated Lower-Tier Regular Interest Y-2 Principal Reduction Amount for
such Distribution Date over the Realized Losses allocated to Uncertificated
Lower-Tier Regular Interest Y-2 on such Distribution Date in reduction of the
Uncertificated Principal Balance thereof.

            Uncertificated Lower-Tier Regular Interest Y-2 Principal Reduction
Amount: The Uncertificated Lower-Tier Regular Interest Y Principal Reduction
Amount for Uncertificated Lower-Tier Regular Interest Y-2 as determined pursuant
to the provisions of Appendix 1.

            Uncertificated Lower-Tier Regular Interest Y-3: A regular interest
in the Lower-Tier REMIC that is held as an asset of the Upper-Tier REMIC, that
has an initial principal balance equal to the related Uncertificated Principal
Balance, that bears interest at the related Uncertificated Pass-Through Rate,
and that has such other terms as are described herein.

            Uncertificated Lower-Tier Regular Interest Y-3 Principal
Distribution Amount: For any Distribution Date, the excess, if any, of the
Uncertificated Lower-Tier Regular Interest Y-3 Principal Reduction Amount for
such Distribution Date over the Realized Losses allocated to Uncertificated
Lower-Tier Regular Interest Y-3 on such Distribution Date in reduction of the
Uncertificated Principal Balance thereof.

            Uncertificated Lower-Tier Regular Interest Y-3 Principal Reduction
Amount: The Uncertificated Lower-Tier Regular Interest Y Principal Reduction
Amount for Uncertificated Lower-Tier Regular Interest Y-3 as determined pursuant
to the provisions of Appendix 1.

            Uncertificated Lower-Tier Regular Interest Y-4: A regular interest
in the Lower-Tier REMIC that is held as an asset of the Upper-Tier REMIC, that
has an initial principal balance equal to the related Uncertificated Principal
Balance, that bears interest at the related Uncertificated Pass-Through Rate,
and that has such other terms as are described herein.

            Uncertificated Lower-Tier Regular Interest Y-4 Principal
Distribution Amount: For any Distribution Date, the excess, if any, of the
Uncertificated Lower-Tier Regular Interest Y-4 Principal Reduction Amount for
such Distribution Date over the Realized Losses allocated to Uncertificated
Lower-Tier Regular Interest Y-4 on such Distribution Date in reduction of the
Uncertificated Principal Balance thereof.

            Uncertificated Lower-Tier Regular Interest Y-4 Principal Reduction
Amount: The Uncertificated Lower-Tier Regular Interest Y Principal Reduction
Amount for Uncertificated Lower-Tier Regular Interest Y-4 as determined pursuant
to the provisions of Appendix 1.

            Uncertificated Lower-Tier Y Regular Interests: Uncertificated
Lower-Tier Regular Interests Y-1, Y-2, Y-3 and Y-4.

            Uncertificated Lower-Tier Regular Interest Z Principal Reduction
Amounts: For any Distribution Date, the amounts by which the Uncertificated
Principal Balances of Uncertificated Lower-Tier Regular Interests Z-1, Z-2, Z-3
and Z-4 will be reduced on such Distribution Date by the allocation of Realized
Losses and the distribution of principal, which shall be in each case the excess
of (A) the sum of (x) the excess of the Pool Distribution Amount for the related
Loan Group (i.e. the "related Loan Group" for Uncertificated Lower-Tier Regular
Interest Z-1 is Loan Group 1, the "related Loan Group" for Uncertificated
Lower-Tier Regular Interest Z-2 is the Loan Group 2, the "related Loan Group"
for Uncertificated Lower-Tier Regular Interest Z-3 is Loan Group 3 and the
"related Loan Group" for Uncertificated Lower-Tier Regular Interest Z-4 is Loan
Group 4) over the sum of the amounts thereof distributable (i) in respect of
interest on such regular interest and the related Uncertificated Lower-Tier Y
Regular Interest, (ii) to such regular interest and the related Uncertificated
Lower-Tier Y Regular Interest pursuant to clause (e)(i) of the definition of
"Lower-Tier Distribution Amount" and (iii) in the case of the Group 1 Mortgage
Loans, to the Class 1-A-R Certificates in respect of Component I thereof and (y)
the amount of Realized Losses allocable to principal for the related Loan Group
over (B) the related Uncertificated Lower-Tier Regular Interest Y Principal
Reduction Amount.

            Uncertificated Lower-Tier Regular Interest Z-1: A regular interest
in the Lower-Tier REMIC that is held as an asset of the Upper-Tier REMIC, that
has an initial principal balance equal to the related Uncertificated Principal
Balance, that bears interest at the related Uncertificated Pass-Through Rate,
and that has such other terms as are described herein.

            Uncertificated Lower-Tier Regular Interest Z-1 Principal
Distribution Amount: For any Distribution Date, the excess, if any, of the
Uncertificated Lower-Tier Regular Interest Z-1 Principal Reduction Amount for
such Distribution Date over the Realized Losses allocated to Uncertificated
Lower-Tier Regular Interest Z-1 on such Distribution Date in reduction of the
principal balance thereof.

            Uncertificated Lower-Tier Regular Interest Z-1 Principal Reduction
Amount: The Uncertificated Lower-Tier Regular Interest Z Principal Reduction
Amount for Uncertificated Lower-Tier Regular Interest Z-1 as determined pursuant
to the provisions of Appendix 1.

            Uncertificated Lower-Tier Regular Interest Z-2: A regular interest
in the Lower-Tier REMIC that is held as an asset of the Upper-Tier REMIC, that
has an initial principal balance equal to the related Uncertificated Principal
Balance, that bears interest at the related Uncertificated Pass-Through Rate,
and that has such other terms as are described herein.

            Uncertificated Lower-Tier Regular Interest Z-2 Principal
Distribution Amount: For any Distribution Date, the excess, if any, of the
Uncertificated Lower-Tier Regular Interest Z-2 Principal Reduction Amount for
such Distribution Date over the Realized Losses allocated to Uncertificated
Lower-Tier Regular Interest Z-2 on such Distribution Date in reduction of the
principal balance thereof.

            Uncertificated Lower-Tier Regular Interest Z-2 Principal Reduction
Amount: The Uncertificated Lower-Tier Regular Interest Z Principal Reduction
Amount for Uncertificated Lower-Tier Regular Interest Z-2 as determined pursuant
to the provisions of Appendix 1.

            Uncertificated Lower-Tier Regular Interest Z-3: A regular interest
in the Lower-Tier REMIC that is held as an asset of the Upper-Tier REMIC, that
has an initial principal balance equal to the related Uncertificated Principal
Balance, that bears interest at the related Uncertificated Pass-Through Rate,
and that has such other terms as are described herein.

            Uncertificated Lower-Tier Regular Interest Z-3 Principal
Distribution Amount: For any Distribution Date, the excess, if any, of the
Uncertificated Lower-Tier Regular Interest Z-3 Principal Reduction Amount for
such Distribution Date over the Realized Losses allocated to Uncertificated
Lower-Tier Regular Interest Z-3 on such Distribution Date in reduction of the
principal balance thereof.

            Uncertificated Lower-Tier Regular Interest Z-3 Principal Reduction
Amount: The Uncertificated Lower-Tier Regular Interest Z Principal Reduction
Amount for Uncertificated Lower-Tier Regular Interest Z-3 as determined pursuant
to the provisions of Appendix 1.

            Uncertificated Lower-Tier Regular Interest Z-4: A regular interest
in the Lower-Tier REMIC that is held as an asset of the Upper-Tier REMIC, that
has an initial principal balance equal to the related Uncertificated Principal
Balance, that bears interest at the related Uncertificated Pass-Through Rate,
and that has such other terms as are described herein.

            Uncertificated Lower-Tier Regular Interest Z-4 Principal
Distribution Amount: For any Distribution Date, the excess, if any, of the
Uncertificated Lower-Tier Regular Interest Z-4 Principal Reduction Amount for
such Distribution Date over the Realized Losses allocated to Uncertificated
Lower-Tier Regular Interest Z-4 on such Distribution Date in reduction of the
principal balance thereof.

            Uncertificated Lower-Tier Regular Interest Z-4 Principal Reduction
Amount: The Uncertificated Lower-Tier Regular Interest Z Principal Reduction
Amount for Uncertificated Lower-Tier Regular Interest Z-4 as determined pursuant
to the provisions of Appendix 1.

            Uncertificated Pass-Through Rate: With respect to any Distribution
Date and (i) Uncertificated Lower-Tier Regular Interests Y-1 and Z-1, the Net
WAC for Loan Group 1, (ii) Uncertificated Lower-Tier Regular Interests Y-2 and
Z-2, the Net WAC for Loan Group 2, (iii) Uncertificated Lower-Tier Regular
Interests Y-3 and Z-3, the Net WAC for Loan Group 3 and (iv) Uncertificated
Lower-Tier Regular Interests Y-4 and Z-4, the Net WAC for Loan Group 4.

            Uncertificated Principal Balance: The principal amount of any
Uncertificated Lower-Tier Regular Interest outstanding as of any date of
determination. The Uncertificated Principal Balance of each Uncertificated
Lower-Tier Regular Interest shall never be less than zero.

            Underwriting Guidelines: With respect to Loan Group 1, Loan Group 3
and Loan Group 4, the underwriting guidelines of National City. With respect to
Loan Group 2, the underwriting guidelines of Wells Fargo.

            Unscheduled Principal Payments: The amounts described in clauses
(e), (f) and (g) of the definition of Principal Amount.

            Upper-Tier REMIC: As defined in the Preliminary Statement.

            U.S. Person: 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).

            Voting Rights: The portion of the voting rights of all of the
Certificates which is allocated to any Certificate. As of any date of
determination, (a) 1% of all Voting Rights shall be allocated to the Holders of
the Residual Certificates and (b) the remaining Voting Rights shall be allocated
among Holders of the remaining Classes of Certificates in proportion to the
Certificate Balances of their respective Certificates on such date.

            Wells Fargo:  As defined in the recitals hereto.

Section 1.02      Interest Calculations. All calculations of interest will be
made on a 360-day year consisting of twelve 30-day months. All dollar amounts
calculated hereunder shall be rounded to the nearest penny with one-half of one
penny being rounded down.

                                    ARTICLE II

                          CONVEYANCE OF MORTGAGE LOANS
                        ORIGINAL ISSUANCE OF CERTIFICATES

Section 2.01      Conveyance of Mortgage Loans.

     (a) The  Depositor,  concurrently  with the execution and delivery  hereof,
hereby sells, transfers, assigns, sets over and otherwise conveys to the Trustee
on  behalf  of the  Trust for the  benefit  of the  Certificateholders,  without
recourse,  all the right,  title and  interest  of the  Depositor  in and to the
Mortgage Loans, including all interest and principal received on or with respect
to the  Mortgage  Loans (other than  payments of principal  and interest due and
payable on the  Mortgage  Loans on or before the Cut-Off  Date).  The  foregoing
sale,  transfer,  assignment and set over does not and is not intended to result
in a creation of an assumption by the Trustee of any obligation of the Depositor
or any other Person in  connection  with the Mortgage  Loans or any agreement or
instrument relating thereto, except as specifically set forth herein.

     (b) In  connection  with such  transfer and  assignment,  the Depositor has
delivered or caused to be delivered to the Custodian,  on behalf of the Trustee,
for  the  benefit  of  the   Certificateholders,   the  following  documents  or
instruments with respect to each Mortgage Loan so assigned:

          (i) the  original  Mortgage  Note,  endorsed  by manual  or  facsimile
     signature  either (A) in blank or (B) in the  following  form:  "Pay to the
     order of U.S. Bank National  Association,  as Trustee,  without  recourse,"
     with all necessary  intervening  endorsements  showing a complete  chain of
     endorsement from the originator to the Trustee (each such endorsement being
     sufficient  to  transfer  all  right,  title and  interest  of the party so
     endorsing in and to that Mortgage Note);

          (ii) except as provided  below,  the original  recorded  Mortgage with
     evidence  of a  recording  thereon,  or if any such  Mortgage  has not been
     returned from the applicable  recording office or has been lost, or if such
     public recording office retains the original recorded  Mortgage,  a copy of
     such  Mortgage  certified by the Depositor as being a true and correct copy
     of the Mortgage, if such copy is available;

          (iii)  subject to the  provisos at the end of this  paragraph,  a duly
     executed  Assignment  of Mortgage to "U.S.  Bank National  Association,  as
     trustee for the holders of the Wachovia  Mortgage Loan Trust,  LLC Mortgage
     Pass-Through  Certificates,  Series  2005-A  Certificates"  (which  may  be
     included in a blanket assignment or assignments),  together with, except as
     provided  below,  originals  of all interim  recorded  assignments  of such
     mortgage or copies of such interim  assignments  certified by the Depositor
     as being true and  complete  copies of the  original  recorded  intervening
     assignments  of  mortgage  (each  such  assignment,  when duly and  validly
     completed, to be in recordable form and sufficient to effect the assignment
     of the related  Mortgage to the assignee  thereof);  provided  that, if the
     related Mortgage has not been returned from the applicable public recording
     office,  such  Assignment  of Mortgage  may exclude the  information  to be
     provided by the recording  office;  and provided,  further,  if the related
     Mortgage has been recorded in the name of Mortgage Electronic  Registration
     Systems,  Inc. ("MERS") or its designee, no Assignment of Mortgage in favor
     of the Trustee  will be required to be prepared or  delivered  and instead,
     the  Servicer  servicing  such  Mortgage  shall  take  all  actions  as are
     necessary to cause the Trust or the Trustee to be shown as the owner of the
     related  Mortgage Loan on the records of MERS for purposes of the system of
     recording transfers of mortgages maintained by MERS;

          (iv) the originals of all assumption,  modification,  consolidation or
     extension agreements, if any, with evidence of recording thereon, if any;

          (v) the  original or  duplicate  original  mortgagee  title  insurance
     policy and all riders thereto;

          (vi) the original of any  guarantee  executed in  connection  with the
     Mortgage Note;

          (vii)  for  each  Mortgage  Loan,  if  any,  which  is  secured  by  a
     residential long-term lease, a copy of the lease with evidence of recording
     indicated thereon,  or, if the lease is in the process of being recorded, a
     photocopy  of the lease,  certified by an officer of the  respective  prior
     owner of such Mortgage Loan or by the applicable  title insurance  company,
     closing/settlement/escrow agent or company or closing attorney to be a true
     and correct copy of the lease transmitted for recordation;

          (viii) the original of any  security  agreement,  chattel  mortgage or
     equivalent document executed in connection with the Mortgage; and

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

               (A) The stock certificate;

               (B) The stock power executed in blank;

               (C) The executed proprietary lease;

               (D) The executed recognition agreement;

               (E) The executed assignment of recognition agreement, if any;

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

               (G) Executed UCC-3 financing  statements or other appropriate UCC
          financing  statements,  evidencing  a complete  and  unbroken  line of
          assignments  from  the  mortgagee  to the  Trustee  with  evidence  of
          recording thereon (or in a form suitable for recordation).

provided, however, that on the Closing Date, with respect to item (iii), the
Depositor has delivered to the Custodian a copy of such Assignment of Mortgage
in blank and has caused the Servicer servicing the related Mortgage Loan to
retain the completed Assignment of Mortgage for recording as described below,
unless such Mortgage has been recorded in the name of MERS or its designee. In
addition, if the Depositor is unable to deliver or cause the delivery of any
original Mortgage Note due to the loss of such original Mortgage Note, the
Depositor may deliver a Lost Note Affidavit together with a copy of such
Mortgage Note, if a copy is available, and shall thereby be deemed to have
satisfied the document delivery requirements of this Section 2.01(b).

            If in connection with any Mortgage Loans, the Depositor cannot
deliver (A) the Mortgage, (B) all interim recorded assignments, (C) all
assumption, modification, consolidation or extension agreements, if any, or (D)
the lender's title policy (together with all riders thereto) satisfying the
requirements of clause (ii), (iii), (iv) or (v) above, respectively,
concurrently with the execution and delivery hereof because such document or
documents have not been returned from the applicable public recording office in
the case of clause (ii), (iii) or (iv) above, or because the title policy has
not been delivered to either the Servicer servicing such Mortgage Loan or the
Depositor by the applicable title insurer in the case of clause (v) above, the
Depositor shall promptly deliver or cause to be delivered to the Custodian, in
the case of clause (ii), (iii) or (iv) above, such Mortgage, such interim
assignment or such assumption, modification, consolidation or extension
agreement, as the case may be, with evidence of recording indicated thereon upon
receipt thereof from the public recording office, but in no event shall any such
delivery of any such documents or instruments be made later than one year
following the Closing Date, unless, in the case of clause (ii), (iii) or (iv)
above, there has been a continuing delay at the applicable recording office or,
in the case of clause (v), there has been a continuing delay at the applicable
insurer and the Depositor has delivered an Officer's Certificate to such effect
to the Custodian. The Depositor shall forward or cause to be forwarded to the
Custodian (1) from time to time additional original documents evidencing an
assumption or modification of a Mortgage Loan and (2) any other documents
required to be delivered by the Depositor or the related Servicer to the
Custodian. In the event that the original Mortgage is not delivered and in
connection with the payment in full of the related Mortgage Loan the public
recording office requires the presentation of a "lost instruments affidavit and
indemnity" or any equivalent document, because only a copy of the Mortgage can
be delivered with the instrument of satisfaction or reconveyance, the Servicer
servicing such Mortgage Loan shall prepare, execute and deliver or cause to be
prepared, executed and delivered, on behalf of the Trust, such a document to the
public recording office.

            As promptly as practicable subsequent to such transfer and
assignment, and in any event, within 30 days thereafter, the related Servicer
shall (except for any Mortgage which has been recorded in the name of MERS or
its designee) (I) cause each Assignment of Mortgage to be in proper form for
recording in the appropriate public office for real property records within 30
days of the Closing Date and (II) at the Depositor's expense, cause to be
delivered for recording in the appropriate public office for real property
records the Assignments of the Mortgages in favor of the Trustee, except that,
with respect to any Assignment of a Mortgage as to which the Servicer servicing
such Mortgage has not received the information required to prepare such
assignment in recordable form, such Servicer's obligation to do so and to
deliver the same for such recording shall be as soon as practicable after
receipt of such information and in any event within 30 days after the receipt
thereof and, no recording of an Assignment of Mortgage will be required in a
state if recording is not required by the Rating Agencies to obtain the initial
ratings for the Certificates.

            In the case of Mortgage Loans that have been prepaid in full as of
the Closing Date, the Depositor, in lieu of delivering the above documents to
the Custodian will cause the Servicer servicing such Mortgage Loan to deposit in
the related Servicer Custodial Account the amount of such payment in full.

            It is agreed and understood by the parties to this Agreement that
none of the Mortgage Loans are (a) loans subject to 12 CFR Section 226.31, 12
CFR Section 226.32 or 12 CFR Section 226.34, as amended, or (b) "high cost
home," "covered" (excluding home loans defined as "covered home loans" in the
New Jersey Home Ownership Security Act of 2002 that were originated between
November 26, 2003 and July 7, 2004), "high risk home" or "predatory" loans under
any applicable state, federal or local law (or a similarly classified loan using
different terminology under a law imposing heightened regulatory scrutiny or
additional legal liability for residential mortgage loans having high interest
rates, points and/or fees).

Section 2.02 Acceptance by the Custodian of the Mortgage  Loans.  Subject to the
provisions of the following paragraph,  pursuant to the Custodial Agreement, the
Custodian,  on behalf of the Trustee,  declares  that it will hold the documents
referred to in Section 2.01 and the other documents delivered to it constituting
the Mortgage  Files,  and that it will hold such other assets as are included in
the Trust Estate,  in trust for the exclusive use and benefit of all present and
future Certificateholders.  Upon execution of this Agreement, the Custodian will
deliver to the  Depositor,  the  Certificate  Administrator  and the  Trustee an
initial  certification  in the form of  Exhibit O hereto,  to the  effect  that,
except as may be specified in the list of exceptions  attached  thereto,  it has
received the Mortgage File for each Mortgage Loan on the Mortgage Loan Schedule.

            Within 90 days after the execution and delivery of this Agreement,
the Custodian shall review the Mortgage Files in its possession and will deliver
to the Depositor, the Certificate Administrator and the Trustee a final
certification in the form of Exhibit P hereto. If, in the course of such review,
the Custodian finds any document described in Section 2.01(b)(i), (ii), (iii),
(v) and (ix)(A), (B), (C), (D), (F) and (G) which does not meet the requirements
of Section 2.01 or is omitted from such Mortgage File, the Custodian shall
promptly so notify the related Servicer and the Depositor. In performing any
such review, the Custodian may conclusively rely on the purported genuineness of
any such document and any signature thereon. It is understood that the scope of
the Custodian's review of the Mortgage Files is limited solely to confirming
that the documents listed in Section 2.01(b)(i), (ii), (iii), (v) and (ix)(A),
(B), (C), (D), (F) and (G) have been received and further confirming that any
and all documents delivered pursuant to Section 2.01 appear on their face to
have been executed and relate to the Mortgage Loans identified in the Mortgage
Loan Schedule. The Custodian shall not have any responsibility for determining
whether any document is valid and binding, whether the text of any assignment or
endorsement is in proper or recordable form, whether any document has been
recorded in accordance with the requirements of any applicable jurisdiction, or
whether a blanket assignment is permitted in any applicable jurisdiction. The
Depositor hereby covenants and agrees that it will promptly correct or cure such
defect within 90 days from the date it was so notified of such defect and, if
the Depositor does not correct or cure such defect within such period, the
Depositor will either (a) substitute for the related Mortgage Loan a Substitute
Mortgage Loan, which substitution shall be accomplished in the manner and
subject to the conditions set forth below or (b) repurchase such Mortgage Loan
from the Trustee at the Repurchase Price for such Mortgage Loan; provided,
however, that in no event shall such a substitution occur more than two years
from the Closing Date; provided, further, that such substitution or repurchase
shall occur within 90 days of when such defect was discovered if such defect
will cause the Mortgage Loan not to be a "qualified mortgage" within the meaning
of Section 860G(a)(3) of the Code.

            With respect to each Substitute Mortgage Loan, the Depositor shall
deliver to the Custodian, on behalf of the Trustee, for the benefit of the
Certificateholders, the Mortgage Note, the Mortgage, the related Assignment of
Mortgage (except for any Mortgage which has been recorded in the name of MERS or
its designee), and such other documents and agreements as are otherwise required
by Section 2.01, with the Mortgage Note endorsed and the Mortgage assigned as
required by Section 2.01(b)(i). No substitution is permitted to be made in any
calendar month after the Determination Date for such month. Monthly Payments due
with respect to any such Substitute Mortgage Loan in the month of substitution
shall not be conveyed to the Trust and shall be retained by the Depositor. For
the month of substitution, distributions to Certificateholders will include the
Monthly Payment due for such month on any Defective Mortgage Loan for which the
Depositor has substituted a Substitute Mortgage Loan.

            The related Servicer shall amend the Mortgage Loan Schedule to
reflect the removal of each Mortgage Loan that has become a Defective Mortgage
Loan and the substitution of the Substitute Mortgage Loan or Loans and such
Servicer shall deliver the amended Mortgage Loan Schedule to the Custodian and
the Trustee. Upon such substitution, each Substitute Mortgage Loan shall be
subject to the terms of this Agreement in all respects, and the Depositor shall
be deemed to have made to the Trustee and the Certificate Administrator with
respect to such Substitute Mortgage Loan, as of the date of substitution, the
representations and warranties made pursuant to Section 2.04. Upon any such
repurchase or substitution and the deposit to the related Servicer Custodial
Account of any required Repurchase Price or Substitution Adjustment Amount (as
described in the next paragraph), as applicable, and receipt of a Request for
Release, the Custodian shall release the Mortgage File relating to such
Defective Mortgage Loan to the Depositor and shall execute and deliver at the
Depositor's direction such instruments of transfer or assignment prepared by the
Depositor, in each case without recourse, as shall be necessary to transfer to
the Depositor, or its designee, any Defective Mortgage Loan repurchased or
substituted for pursuant to this Section 2.02.

            For any month in which the Depositor substitutes one or more
Substitute Mortgage Loans for one or more Defective Mortgage Loans, the amount
(if any) by which the aggregate principal balance of all such Substitute
Mortgage Loans in a Loan Group as of the date of substitution is less than the
aggregate Stated Principal Balance of all such Defective Mortgage Loans in such
Loan Group (the "Substitution Adjustment Amount" for such Loan Group) plus an
amount equal to the aggregate of any unreimbursed Advances with respect to such
Defective Mortgage Loans shall be deposited into the Certificate Account by the
Depositor on or before the Remittance Date for the Distribution Date in the
month succeeding the calendar month during which the related Mortgage Loan is
required to be repurchased or replaced hereunder.

            The Custodian shall retain possession and custody of each Mortgage
File in accordance with and subject to the terms and conditions set forth in the
Custodial Agreement. Each Servicer shall promptly deliver to the Custodian, upon
the execution or, in the case of documents requiring recording, receipt thereof,
the originals of such other documents or instruments constituting the Mortgage
File as come into each Servicer's possession from time to time.

            It is understood and agreed that the obligation of the Depositor to
substitute for or to repurchase any Mortgage Loan which does not meet the
requirements of Section 2.01 shall constitute the sole remedy respecting such
defect available to the Trustee and any Certificateholder against the Depositor.

            None of the Certificate Administrator, the Trustee or the Custodian
shall be under any duty or obligation (i) to inspect, review or examine any such
documents, instruments, certificates or other papers to determine that they are
genuine, enforceable, or appropriate for the represented purpose or that they
are other than what they purport to be on their face or (ii) to determine
whether any Mortgage File should include any of the documents specified in
Section 2.01(b)(iv), (vi), (vii) and (viii) and (ix)(E).

Section 2.03      Representations, Warranties and Covenants of the Servicers.

     (a) Wells Fargo hereby makes the following  representations  and warranties
to the  Depositor,  the  Certificate  Administrator  and the Trustee,  as of the
Closing Date:

          (i) Wells  Fargo is a national  banking  association  duly  organized,
     validly existing, and in good standing under the federal laws of the United
     States of America and has all  licenses  necessary to carry on its business
     as now being  conducted and is licensed,  qualified and in good standing in
     each of the states  where a  Mortgaged  Property  is located if the laws of
     such state require  licensing or qualification in order to conduct business
     of the type  conducted by Wells Fargo.  Wells Fargo has power and authority
     to  execute  and  deliver  this  Agreement  and to  perform  in  accordance
     herewith;  the  execution,  delivery  and  performance  of  this  Agreement
     (including  all  instruments  of transfer to be delivered  pursuant to this
     Agreement)  by  Wells  Fargo  and  the  consummation  of  the  transactions
     contemplated hereby have been duly and validly authorized.  This Agreement,
     assuming due  authorization,  execution  and delivery by the other  parties
     hereto,  evidences the valid,  binding and enforceable  obligation of Wells
     Fargo,   except  as  enforceability  may  be  limited  by  (A)  bankruptcy,
     insolvency, liquidation,  receivership, moratorium, reorganization or other
     similar laws affecting the enforcement of the creditors'  rights  generally
     or  creditors  of  national  banks and (B)  general  principles  of equity,
     whether  enforcement  is sought in a  proceeding  in equity or at law.  All
     requisite  corporate  action  has been  taken by Wells  Fargo to make  this
     Agreement valid and binding upon Wells Fargo in accordance with its terms.

          (ii) No consent, approval,  authorization or order is required for the
     transactions  contemplated  by this Agreement from any court,  governmental
     agency  or  body,  or  federal  or  state   regulatory   authority   having
     jurisdiction  over Wells Fargo or, if  required,  such  consent,  approval,
     authorization  or order has been or will,  prior to the  Closing  Date,  be
     obtained.

          (iii)  The  consummation  of the  transactions  contemplated  by  this
     Agreement  are in the  ordinary  course of business of Wells Fargo and will
     not result in the breach of any term or provision of the charter or by-laws
     of Wells  Fargo or result in the  breach  of any term or  provision  of, or
     conflict with or  constitute a default under or result in the  acceleration
     of any  obligation  under,  any  agreement,  indenture  or loan  or  credit
     agreement  or other  instrument  to which  Wells  Fargo or its  property is
     subject,  or result in the violation of any law, rule,  regulation,  order,
     judgment or decree to which Wells Fargo or its property is subject.

          (iv) There is no action, suit, proceeding or investigation pending or,
     to the best knowledge of Wells Fargo, threatened against Wells Fargo which,
     either  individually  or in the  aggregate,  would  result in any  material
     adverse change in the business, operations, financial condition, properties
     or assets of Wells  Fargo,  or in any material  impairment  of the right or
     ability  of  Wells  Fargo to carry  on its  business  substantially  as now
     conducted or which would draw into question the validity of this  Agreement
     or the Mortgage  Loans or of any action taken or to be taken in  connection
     with the  obligations of Wells Fargo  contemplated  herein,  or which would
     materially  impair the ability of Wells Fargo to perform under the terms of
     this Agreement.

          (v) Each Mortgage Loan serviced by Wells Fargo was originated (A) by a
     savings and loan association,  savings bank, commercial bank, credit union,
     insurance company or similar institution that is supervised and examined by
     a  federal  or  state  authority,  or (B) by a  mortgagee  approved  by the
     Secretary of Housing and Urban Development pursuant to Sections 203 and 211
     of the National Housing Act, as amended.

            The representations and warranties made pursuant to this Section
2.03(a) shall survive delivery of the respective Mortgage Files for Loan Group 2
to the Custodian.

     (b) National City hereby makes the following representations and warranties
to the  Depositor,  the  Certificate  Administrator  and the Trustee,  as of the
Closing Date:

            (i) National City is a corporation duly organized, validly existing,
      and in good standing under the laws of Ohio and has all licenses necessary
      to carry on its business as now being conducted and is licensed, qualified
      and in good standing in each of the states where a Mortgaged Property is
      located if the laws of such state require licensing or qualification in
      order to conduct business of the type conducted by National City. National
      City has power and authority to execute and deliver this Agreement and to
      perform in accordance herewith; the execution, delivery and performance of
      this Agreement (including all instruments of transfer to be delivered
      pursuant to this Agreement) by National City and the consummation of the
      transactions contemplated hereby have been duly and validly authorized.
      This Agreement, assuming due authorization, execution and delivery by the
      other parties hereto, evidences the valid, binding and enforceable
      obligation of National City, except as enforceability may be limited by
      (A) bankruptcy, insolvency, liquidation, receivership, moratorium,
      reorganization or other similar laws affecting the enforcement of the
      rights of creditors and (B) general principles of equity, whether
      enforcement is sought in a proceeding in equity or at law. All requisite
      corporate action has been taken by National City to make this Agreement
      valid and binding upon National City in accordance with its terms.

            (ii) No consent, approval, authorization or order is required for
      the transactions contemplated by this Agreement from any court,
      governmental agency or body, or federal or state regulatory authority
      having jurisdiction over National City or, if required, such consent,
      approval, authorization or order has been or will, prior to the Closing
      Date, be obtained.

            (iii) The consummation of the transactions contemplated by this
      Agreement are in the ordinary course of business of National City and will
      not result in the breach of any term or provision of the charter or
      by-laws of National City or result in the breach of any term or provision
      of, or conflict with or constitute a default under or result in the
      acceleration of any obligation under, any agreement, indenture or loan or
      credit agreement or other instrument to which National City or its
      property is subject, or result in the violation of any law, rule,
      regulation, order, judgment or decree to which National City or its
      property is subject.

            (iv) There is no action, suit, proceeding or investigation pending
      or, to the best knowledge of National City, threatened against National
      City which, either individually or in the aggregate, would result in any
      material adverse change in the business, operations, financial condition,
      properties or assets of National City, or in any material impairment of
      the right or ability of National City to carry on its business
      substantially as now conducted or which would draw into question the
      validity of this Agreement or the Mortgage Loans or of any action taken or
      to be taken in connection with the obligations of National City
      contemplated herein, or which would materially impair the ability of
      National City to perform under the terms of this Agreement.

            (v) Each Mortgage Loan serviced by National City was originated (A)
      by a savings and loan association, savings bank, commercial bank, credit
      union, insurance company or similar institution that is supervised and
      examined by a federal or state authority, or (B) by a mortgagee approved
      by the Secretary of Housing and Urban Development pursuant to Sections 203
      and 211 of the National Housing Act, as amended.

            The representations and warranties made pursuant to this Section
2.03(b) shall survive delivery of the respective Mortgage Files for Loan Group
1, Loan Group 3 or Loan Group 4 to the Custodian.

Section 2.04   Assignment of Interest in the Mortgage Loan Purchase Agreement;
Depositor Representations and Warranties.

     (a) The Depositor hereby assigns to the Trustee all of its right, title and
interest in the Mortgage Loan Purchase  Agreement,  including but not limited to
the representations and warranties of the Seller set forth in Section 7 thereof.
The  obligations  of the Seller under the Mortgage  Loan  Purchase  Agreement to
substitute  or  repurchase,  as  applicable,  a  Mortgage  Loan  as to  which  a
representation set forth in Section 7 thereof is breached shall be the Trustee's
and the  Certificateholders'  sole remedy for such breach. At the request of the
Trustee, the Depositor shall take such actions as may be necessary to enable the
Trustee to enforce such  representations  and the obligations of the Seller with
respect  thereto and shall  execute  such  further  documents as the Trustee may
reasonably require in order to enable the Trustee to carry out such enforcement.

     (b) If the Depositor,  a Servicer, or the Trustee discovers a breach of any
of the  representations  and  warranties set forth in the Mortgage Loan Purchase
Agreement,  which  breach  materially  and  adversely  affects  the value of the
interests of Certificateholders or the Trustee in the related Mortgage Loan, the
party  discovering  the breach shall give prompt written notice of the breach to
the  other  parties  and  the  Seller.  Upon  receipt  by the  Custodian  or the
applicable  Servicer of the applicable  Substitute  Mortgage  Loans,  Repurchase
Prices,  or  Substitution  Adjustment  Amounts (as such terms are defined in the
Mortgage  Loan Purchase  Agreement)  from the Seller as provided in the Mortgage
Loan Purchase Agreement,  the Custodian and the applicable Servicer shall notify
the Trustee,  the  Custodian  shall  release to the Seller the related  Mortgage
File,  and the Trustee shall execute and deliver all  instruments of transfer or
assignment  furnished to it by the Seller,  without recourse,  representation or
warranty,  as are  necessary to transfer to the Seller the Mortgage  Loan or any
property  acquired with respect thereto.  The Custodian shall amend the Mortgage
Loan Schedule to reflect such  repurchase and shall promptly  notify the Trustee
of such  amendment.  If the Seller  delivers a  Substitute  Mortgage  Loan,  the
Custodian  shall examine the Mortgage File for any  Substitute  Mortgage Loan in
the manner set forth in Section 2.02(a).

     (c) The Depositor makes the following  representations and warranties as to
the  Mortgage  Loans on which the Trustee is deemed to have relied in  acquiring
the Mortgage Loans. Such  representations and warranties speak as of the Closing
Date,  but  shall  survive  until  the  termination  of  this  Agreement.   Such
representations and warranties shall not be waived by any of the parties to this
Agreement:

          (i) This Agreement  creates a valid and continuing  security  interest
     (as  defined in the  Uniform  Commercial  Code as in force in the  relevant
     jurisdiction) in the Mortgage Loans in favor of the Trustee, which security
     interest is prior to all other liens, and is enforceable as such as against
     creditors of and purchasers from the Depositor.

          (ii) The Mortgage Loans constitute "instruments" within the meaning of
     the Uniform Commercial Code as in force in the relevant jurisdiction.

          (iii)  The  Depositor  owns and has good and  marketable  title to the
     Mortgage  Loans  free and clear of any lien,  claim or  encumbrance  of any
     Person.

          (iv) The Depositor has received all consents and approvals required by
     the terms of the Mortgage Loans to the sale of the Mortgage Loans hereunder
     to the Trustee.

          (v) The Depositor has caused or will have caused, within ten days, the
     filing of all appropriate  financing statements in the proper filing office
     in the appropriate  jurisdictions  under applicable law in order to perfect
     the  security  interest  in the  Mortgage  Loans  granted  to  the  Trustee
     hereunder.

          (vi) Other than the security  interest granted to the Trustee pursuant
     to this Agreement, the Depositor has not pledged, assigned, sold, granted a
     security interest in, or otherwise  conveyed any of the Mortgage Loans. The
     Depositor  has  not  authorized  the  filing  of and is  not  aware  of any
     financing  statements  against the Depositor  that include a description of
     collateral  covering the Mortgage Loans other than any financing  statement
     relating to the security  interest granted to the Trustee hereunder or that
     has  been  terminated.  Debtor  is not  aware of any  judgment  or tax lien
     filings against it.

          (vii) The Custodian has in its possession  all original  copies of the
     Mortgage Notes that constitute or evidence the Mortgage Loans. The Mortgage
     Notes that  constitute or evidence the Mortgage Loans do not have any marks
     or notations indicating that they have been pledged,  assigned or otherwise
     conveyed to any Person other than the  Trustee.  All  financing  statements
     filed or to be filed  against  the  Depositor  in favor of the  Trustee  in
     connection  herewith  describing  the Mortgage Loans contain a statement to
     the following effect: "A purchase of or security interest in any collateral
     described  in this  financing  statement  will  violate  the  rights of the
     secured party as more fully  described in, and subject to the terms of, the
     related transaction documents."

     (d) The Depositor  hereby covenants to maintain the perfection and priority
of the security interest of the Trustee created by this Agreement.

Section 2.05     Intent of Parties and Protection of Title.

     (a) It is the express intent of the parties hereto that the transfer of the
Mortgage Loans by the Depositor to the Trustee  pursuant to Section  2.01(a) be,
and be construed as, an absolute sale of the Mortgage Loans. It is, further, not
the  intention  of the  parties  that such  transfer  be  deemed  the grant of a
security  interest  in the  Mortgage  Loans by the  Depositor  to the Trustee to
secure a debt or other obligation of the Depositor.  However, in the event that,
notwithstanding the intent of the parties, the Mortgage Loans are held to be the
property of the Depositor,  or if for any other reason this Agreement is held or
deemed to create a security  interest  in the  Mortgage  Loans,  then:  (1) this
Agreement  shall  constitute a security  agreement,  and (2) the transfer of the
Mortgage Loans provided for in Section  2.01(a) shall be deemed to be a grant by
the Depositor to the Trustee of, and the Depositor hereby grants to the Trustee,
to secure all of the Depositor's  obligations  hereunder, a security interest in
all of the  Depositor's  right,  title,  and  interest,  whether  now  owned  or
hereafter acquired, in and to (i) the Mortgage Loans, (ii) all accounts, chattel
paper, deposit accounts,  documents,  general intangibles,  goods,  instruments,
investment property, letter-of-credit rights, letters of credit, money, and oil,
gas, and other minerals, consisting of, arising from, or relating to, any of the
foregoing; and (iii) all proceeds of the foregoing.

     (b) The Depositor shall file such financing statements,  and the Depositor,
the Servicers,  and the Trustee at the direction of the Depositor  shall, to the
extent  consistent  with this  Agreement,  take  such  other  actions  as may be
necessary  to ensure  that,  if this  Agreement  were found to create a security
interest in the Mortgage  Loans,  such  security  interest  would be a perfected
security  interest of first priority under applicable law and will be maintained
as such  throughout  the term of the  Agreement.  In  connection  herewith,  the
Trustee  shall have all of the rights and remedies of a secured  party under the
Uniform Commercial Code as in force in the relevant jurisdiction.

     (c) It is the express intent of the parties hereto that the transfer of the
Uncertificated  Lower-Tier  Regular  Interests  by the  Depositor to the Trustee
pursuant to this  Agreement  be, and be  construed  as, an absolute  sale of the
Uncertificated  Lower-Tier Regular Interests.  It is, further, not the intention
of the parties that such transfer be deemed the grant of a security  interest in
the Uncertificated  Lower-Tier Regular Interests by the Depositor to the Trustee
to secure a debt or other  obligation of the  Depositor.  However,  in the event
that,  notwithstanding the intent of the parties, the Uncertificated  Lower-Tier
Regular  Interests are held to be the property of the  Depositor,  or if for any
other reason this  Agreement is held or deemed to create a security  interest in
the Uncertificated Lower-Tier Regular Interests,  then: (1) this Agreement shall
constitute  a security  agreement,  and (2) the  transfer of the  Uncertificated
Lower-Tier  Regular Interests  provided for in this Agreement shall be deemed to
be a grant by the Depositor to the Trustee of, and the  Depositor  hereby grants
to the  Trustee,  to secure  all of the  Depositor's  obligations  hereunder,  a
security interest in all of the Depositor's right, title, and interest,  whether
now owned or hereafter  acquired,  in and to (i) the  Uncertificated  Lower-Tier
Regular  Interests,  including  all  rights  represented  thereby  in and to the
Mortgage  Loans and the proceeds  thereof,  (ii) all  accounts,  chattel  paper,
deposit accounts, documents, general intangibles, goods, instruments, investment
property,  letter-of-credit  rights, letters of credit, money, and oil, gas, and
other  minerals,  consisting  of,  arising  from,  or  relating  to,  any of the
foregoing; and (iii) all proceeds of the foregoing.

     (d) The Depositor shall file such financing statements,  and the Depositor,
the Servicers,  and the Trustee at the direction of the Depositor  shall, to the
extent  consistent  with this  Agreement,  take  such  other  actions  as may be
necessary  to ensure  that,  if this  Agreement  were found to create a security
interest in the  Uncertificated  Lower-Tier  Regular  Interests,  such  security
interest  would  be a  perfected  security  interest  of  first  priority  under
applicable  law  and  will be  maintained  as such  throughout  the  term of the
Agreement.  In connection herewith, the Trustee shall have all of the rights and
remedies of a secured party under the Uniform Commercial Code as in force in the
relevant jurisdiction.

      Section 2.06   Designation of Interests in the REMIC. The Depositor hereby
designates  the  Classes of Class A  Certificates  (other  than the Class  1-A-R
Certificates)  and the  Classes of Class B  Certificates  as classes of "regular
interests" and Component II of the Class 1-A-R  Certificates as the single class
of "residual interest" in the Upper-Tier REMIC for the purposes of Code Sections
860G(a)(1) and 860G(a)(2), respectively. The Depositor hereby further designates
each   Uncertificated   Lower-Tier  Regular  Interest  as  classes  of  "regular
interests" and Component I of the Class 1-A-R  Certificates  as the single class
of "residual interest" in the Lower-Tier REMIC for the purposes of Code Sections
860G(a)(1) and 860G(a)(2), respectively.

      Section 2.07      Designation of Start-up Day. The Closing Date is hereby
designated as the "start-up day" of each of the Upper-Tier REMIC and Lower-Tier
REMIC within the meaning of Section 860G(a)(9) of the Code.

      Section 2.08      REMIC Certificate Maturity Date. Solely for purposes of
satisfying Section 1.860G-1(a)(4)(iii) of the Treasury Regulations, the "latest
possible maturity date" of the regular interests in the Upper-Tier REMIC and
Lower-Tier REMIC is August 1, 2035 (the "REMIC Certificate Maturity Date").

      Section 2.09      Execution and Delivery of Certificates. The Trustee (i)
acknowledges the issuance of and hereby declares that it holds the
Uncertificated Lower-Tier Regular Interests on behalf of the Upper-Tier REMIC
and the Certificateholders and (ii) has executed and delivered to or upon the
order of the Depositor, in exchange for the Mortgage Loans and Uncertificated
Lower-Tier Regular Interests together with all other assets included in the
definition of "Trust Estate," receipt of which is hereby acknowledged,
Certificates in authorized denominations which, together with the Uncertificated
Lower-Tier Regular Interests, evidence ownership of the entire Trust Estate.

                                    ARTICLE III

                          ADMINISTRATION AND SERVICING
                                OF MORTGAGE LOANS

     Section 3.01 Servicers to Service  Mortgage Loans. For and on behalf of the
Certificateholders,  National City (or any  successor  Servicer  thereto)  shall
service and administer the Mortgage Loans in Loan Group 1, Loan Group 3 and Loan
Group 4, and Wells Fargo (or any successor  Servicer  thereto) shall service and
administer the Mortgage  Loans in Loan Group 2, in each case in accordance  with
the terms of this Agreement,  the Customary Servicing  Procedures  applicable to
such Servicer,  applicable  law and the terms of the related  Mortgage Notes and
Mortgages.  In connection with such servicing and administration,  each Servicer
shall have full power and authority, acting alone and/or through Subservicers as
provided in Section  3.02,  to do or cause to be done any and all things that it
may  deem  necessary  or  desirable  in  connection   with  such  servicing  and
administration  including, but not limited to, the power and authority,  subject
to  the  terms   hereof,   (a)  to  execute  and  deliver,   on  behalf  of  the
Certificateholders,  the Certificate  Administrator  and the Trustee,  customary
consents or waivers and other  instruments and documents,  (b) to consent,  with
respect  to the  Mortgage  Loans it  services,  to  transfers  of any  Mortgaged
Property and  assumptions of the Mortgage Notes and related  Mortgages (but only
in the manner provided in this Agreement), (c) to collect any Insurance Proceeds
and other Liquidation  Proceeds relating to the Mortgage Loans it services,  and
(d) to  effectuate  foreclosure  or other  conversion  of the  ownership  of the
Mortgaged  Property securing any Mortgage Loan it services.  Each Servicer shall
represent  and  protect  the  interests  of the  Trust in the same  manner as it
protects its own interests in mortgage  loans in its own portfolio in any claim,
proceeding or litigation  regarding a Mortgage Loan and shall not make or permit
any  modification,  waiver or amendment of any term of any Mortgage Loan, except
as provided  pursuant to Section 3.21.  Without  limiting the  generality of the
foregoing,  each Servicer,  in its own name or in the name of any Subservicer or
the  Depositor,  the  Certificate  Administrator  and  the  Trustee,  is  hereby
authorized and empowered by the Depositor, the Certificate Administrator and the
Trustee,  when the Servicer or any Subservicer,  as the case may be, believes it
appropriate in its reasonable judgment, to execute and deliver, on behalf of the
Trustee, the Certificate Administrator, the Depositor, the Certificateholders or
any of them, any and all  instruments of  satisfaction  or  cancellation,  or of
partial or full release or discharge, and all other comparable instruments, with
respect to the  Mortgage  Loans it  services,  and with  respect to the  related
Mortgaged  Properties  held  for the  benefit  of the  Certificateholders.  Each
Servicer  shall prepare and deliver to the Depositor  and/or the Trustee  and/or
the Certificate Administrator such documents requiring execution and delivery by
any or all of them as are  necessary or  appropriate  to enable such Servicer to
service and  administer  the Mortgage  Loans it services to the extent that such
Servicer is not permitted to execute and deliver such documents  pursuant to the
preceding  sentence.  Upon receipt of such documents,  the Depositor  and/or the
Trustee  and/or  the  Certificate  Administrator,  upon  the  direction  of such
Servicer,  shall  promptly  execute  such  documents  and  deliver  them to such
Servicer.

            In accordance with the standards of the preceding paragraph, each
Servicer shall advance or cause to be advanced funds as necessary for the
purpose of effecting the payment of taxes and assessments on the Mortgaged
Properties relating to the Mortgage Loans it services, which Servicing Advances
shall be reimbursable in the first instance from related collections from the
Mortgagors pursuant to Section 3.09, and further as provided in Section 3.11.
The costs, if any, incurred by a Servicer in effecting the timely payments of
taxes and assessments on the Mortgaged Properties and related insurance premiums
shall not, for the purpose of calculating monthly distributions to the
Certificateholders, be added to the Stated Principal Balances of the related
Mortgage Loans, notwithstanding that the terms of such Mortgage Loans so permit.
However, advances for taxes may be capitalized in accordance with a loan
modification pursuant to Section 3.21.

            The relationship of each Servicer (and of any successor to such
Servicer as servicer under this Agreement) to the Trustee, the
Certificateholders and the Certificate Administrator 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.

Section 3.02......Subservicing; Enforcement of the Obligations of Servicers.

     (a) Each Servicer may arrange for the  subservicing of any Mortgage Loan it
services  by a  Subservicer  pursuant  to a  Subservicing  Agreement;  provided,
however,  that  such  subservicing  arrangement  and the  terms  of the  related
Subservicing Agreement must provide for the servicing of such Mortgage Loan in a
manner  consistent  with  the  servicing  arrangements  contemplated  hereunder.
Notwithstanding  the  provisions  of  any  Subservicing  Agreement,  any  of the
provisions of this Agreement  relating to agreements or  arrangements  between a
Servicer and a  Subservicer  or reference to actions taken through a Subservicer
or  otherwise,  the related  Servicer  shall remain  obligated and liable to the
Depositor, the Trustee, the Certificate Administrator and the Certificateholders
for the  servicing  and  administration  of the  Mortgage  Loans it  services in
accordance  with the  provisions of this  Agreement  without  diminution of such
obligation   or  liability  by  virtue  of  such   Subservicing   Agreements  or
arrangements  or by virtue of  indemnification  from the  Subservicer and to the
same extent and under the same terms and  conditions as if such  Servicer  alone
were  servicing and  administering  those  Mortgage  Loans.  All actions of each
Subservicer  performed pursuant to the related  Subservicing  Agreement shall be
performed as agent of the related  Servicer with the same force and effect as if
performed directly by such Servicer.

     (b) For purposes of this  Agreement,  each Servicer shall be deemed to have
received any  collections,  recoveries  or payments with respect to the Mortgage
Loans it services that are received by a Subservicer  regardless of whether such
payments are remitted by the Subservicer to such Servicer.

     (c) As part of its servicing activities hereunder,  each Servicer,  for the
benefit   of   the    Certificate    Administrator,    the   Trustee   and   the
Certificateholders,  shall  use its  best  reasonable  efforts  to  enforce  the
obligations  of each  Subservicer  engaged by such  Servicer  under the  related
Subservicing  Agreement,  to the  extent  that the  non-performance  of any such
obligation  would have a material and adverse  effect on a Mortgage  Loan.  Such
enforcement,  including,  without  limitation,  the legal prosecution of claims,
termination  of  Subservicing  Agreements  and the pursuit of other  appropriate
remedies,  shall be in such form and  carried  out to such an extent and at such
time as such Servicer,  in its good faith business judgment,  would require were
it the owner of the related Mortgage Loans. Such Servicer shall pay the costs of
such enforcement at its own expense,  and shall be reimbursed  therefor only (i)
from a general recovery  resulting from such enforcement to the extent,  if any,
that such  recovery  exceeds all amounts due in respect of the related  Mortgage
Loan or (ii) from a specific  recovery  of costs,  expenses  or  attorneys  fees
against  the  party  against  whom  such   enforcement  is  directed.

     (d) Any  Subservicing  Agreement  entered into by a Servicer  shall provide
that it may be assumed  or  terminated  by the  Trustee  upon 120 days'  written
notice,  if the Trustee has assumed the duties of a Servicer,  or any  successor
Servicer,  at the  Trustee's  or successor  Servicer's  option,  as  applicable,
without cost or  obligation to the assuming or  terminating  party or the Trust,
upon the assumption by such party of the obligations of the Servicer pursuant to
Section  8.05.  Each  Servicer  shall  be  solely  responsible  for any fees and
expenses  payable  to any  Subservicer  in  connection  with the  assumption  or
termination of any Subservicing Agreement.

            Any Subservicing Agreement, and any other transactions or services
relating to the Mortgage Loans involving a Subservicer, shall be deemed to be
between the related Servicer and such Subservicer alone, and the Trustee, the
Certificate Administrator and the Certificateholders shall not be deemed parties
thereto and shall have no obligations, duties or liabilities to or with respect
to the Subservicer or its officers, directors or employees, except as set forth
in Section 3.01.

      Section 3.03      Fidelity Bond; Errors and Omissions Insurance.

            Each Servicer shall maintain, at its own expense, a blanket fidelity
bond and an errors and omissions insurance policy, with broad coverage on all
officers, employees or other persons acting in any capacity requiring such
persons to handle funds, money, documents or papers relating to the Mortgage
Loans it services. These policies must insure the related Servicer against
losses resulting from dishonest or fraudulent acts committed by such Servicer's
personnel, any employees of outside firms that provide data processing services
for such Servicer, and temporary contract employees or student interns. Such
fidelity bond shall also protect and insure such Servicer against losses in
connection with the release or satisfaction of a Mortgage Loan without having
obtained payment in full of the indebtedness secured thereby. No provision of
this Section 3.03 requiring such fidelity bond and errors and omissions
insurance shall diminish or relieve a Servicer from its duties and obligations
as set forth in this Agreement. The minimum coverage under any such bond and
insurance policy shall be at least equal to the corresponding amounts required
by FNMA in the FNMA Servicing Guide or by FHLMC in the FHLMC Sellers' &
Servicers' Guide, as amended or restated from time to time, or in an amount as
may be permitted to the Servicer by express waiver of FNMA or FHLMC.

      Section 3.04      Access to Certain Documentation.

            Each Servicer shall provide to the OTS and the FDIC and to
comparable regulatory authorities supervising Holders of Subordinate
Certificates and the examiners and supervisory agents of the OTS, the FDIC and
such other authorities, access to the documentation required by applicable
regulations of the OTS and the FDIC with respect to the Mortgage Loans. Such
access shall be afforded without charge, but only upon reasonable and prior
written request and during normal business hours at the offices designated by
each Servicer. Nothing in this Section 3.04 shall limit the obligation of a
Servicer to observe any applicable law and the failure of such Servicer to
provide access as provided in this Section 3.04 as a result of such obligation
shall not constitute a breach of this Section 3.04.

      Section 3.05      Maintenance of Primary Insurance Policy; Claims.

            With respect to each Mortgage Loan which was covered by a Primary
Insurance Policy on the Cut-off Date, or the date that such Mortgage Loan is
transferred to the Trustee, the Servicer servicing such Mortgage Loan shall,
without any cost to the Trust Estate, maintain or cause the Mortgagor to
maintain in full force and effect a Primary Insurance Policy insuring that
portion of the Mortgage Loan in excess of a percentage in conformity with FNMA
requirements. Each Servicer shall pay or shall cause the Mortgagor to pay the
premium thereon on a timely basis, at least until the Loan-to-Value Ratio of
such Mortgage Loan is reduced to 80% or such other Loan-to-Value Ratio as may be
required by law. If such Primary Insurance Policy is terminated, the related
Servicer shall obtain from another insurer a comparable replacement policy, with
a total coverage equal to the remaining coverage of such terminated Primary
Insurance Policy. If the insurer shall cease to be an insurer acceptable to
FNMA, such Servicer shall notify the Certificate Administrator and the Trustee
in writing, it being understood that such Servicer shall not have any
responsibility or liability for any failure to recover under the Primary
Insurance Policy for such reason. If the related Servicer determines that
recoveries under the Primary Insurance Policy are jeopardized by the financial
condition of the insurer, such Servicer shall obtain from another insurer which
meets the requirements of this Section 3.05 a replacement insurance policy. No
Servicer shall take any action that would result in noncoverage under any
applicable Primary Insurance Policy of any loss that, but for the actions of the
related Servicer, would have been covered thereunder. In connection with any
assumption or substitution agreement entered into or to be entered into pursuant
to Section 3.13, the related Servicer shall promptly notify the insurer under
the related Primary Insurance Policy, if any, of such assumption or substitution
of liability in accordance with the terms of such Primary Insurance Policy and
shall take all actions which may be required by such insurer as a condition to
the continuation of coverage under such Primary Insurance Policy. If such
Primary Insurance Policy is terminated as a result of such assumption or
substitution of liability, such Servicer shall obtain a replacement Primary
Insurance Policy as provided above.

            In connection with its activities as servicer, each Servicer agrees
to prepare and present, on behalf of itself, the Trustee, and the
Certificateholders, claims to the insurer under any Primary Insurance Policy in
a timely fashion in accordance with the terms of such Primary Insurance Policy
and, in this regard, to take such action as shall be necessary to permit
recovery under any Primary Insurance Policy respecting a Defaulted Mortgage
Loan. Pursuant to Section 3.08(b)(iii), any amounts collected by a Servicer
under any Primary Insurance Policy shall be deposited in the related Servicer
Custodial Account, subject to withdrawal pursuant to Section 3.11.

            Each Servicer will comply with all provisions of applicable state
and federal law relating to the cancellation of, or collection of premiums with
respect to, Primary Insurance Policies, including, but not limited to, the
provisions of the Homeowners Protection Act of 1998, and all regulations
promulgated thereunder, as amended from time to time.

     Section 3.06 Rights of the Depositor, the Certificate Administrator and the
Trustee in Respect of the Servicers.

            The Depositor may, but is not obligated to, enforce the obligations
of either Servicer hereunder and may, but is not obligated to, perform, or cause
a designee to perform, any defaulted obligation of a Servicer hereunder and in
connection with any such defaulted obligation to exercise the related rights of
a Servicer hereunder; provided that no Servicer shall be relieved of any of its
obligations hereunder by virtue of such performance by the Depositor or its
designee. Neither the Trustee, the Certificate Administrator nor the Depositor
shall have any responsibility or liability for any action or failure to act by a
Servicer nor shall the Trustee, the Certificate Administrator or the Depositor
be obligated to supervise the performance of a Servicer hereunder or otherwise.

            Any Subservicing Agreement that may be entered into and any
transactions or services relating to the Mortgage Loans involving a Subservicer
in its capacity as such shall be deemed to be between the Subservicer and the
related Servicer alone, and the Certificate Administrator, the Trustee and
Certificateholders shall not be deemed parties thereto and shall have no
obligations, duties or liabilities with respect to the Subservicer except as set
forth in Section 3.07. Each Servicer shall be solely liable for all fees owed by
it to any Subservicer, irrespective of whether such Servicer's compensation
pursuant to this Agreement is sufficient to pay such fees.

     Section 3.07    Trustee to Act as Servicer.

            If a Servicer shall for any reason no longer be a Servicer hereunder
(including by reason of an Event of Default), the Trustee shall thereupon
assume, if it so elects, or shall appoint a successor Servicer to assume, all of
the rights and obligations of such Servicer hereunder arising thereafter (except
that the Trustee shall not be (a) liable for losses of a Servicer pursuant to
Section 3.12 or any acts or omissions of such predecessor Servicer hereunder,
(b) obligated to make Advances if it is prohibited from doing so by applicable
law, (c) deemed to have made any representations and warranties of such Servicer
hereunder), (d) be required or obligated, in its capacity as successor Servicer,
to purchase, repurchase or substitute any Mortgage Loan, or (e) fund any losses
on any Permitted Investment directed by any other Servicer). Any such assumption
shall be subject to Section 8.05. If a Servicer shall for any reason no longer
be a Servicer (including by reason of any Event of Default), the Trustee or the
successor Servicer may elect to succeed to any rights and obligations of such
Servicer under each Subservicing Agreement or may terminate each Subservicing
Agreement to which such Servicer is a party. If it has elected to assume the
Subservicing Agreement, the Trustee or the successor Servicer shall be deemed to
have assumed all of the related Servicer's interest therein and to have replaced
such Servicer as a party to any Subservicing Agreement entered into by such
Servicer as contemplated by Section 3.02 to the same extent as if the
Subservicing Agreement had been assigned to the assuming party except that such
Servicer shall not be relieved of any liability or obligations under any such
Subservicing Agreement.

            Other than as set forth below with respect to the Trustee acting as
Servicer, a Servicer that is no longer a Servicer hereunder shall, upon request
of the Trustee, but at the expense of such Servicer, deliver to the assuming
party all documents and records relating to each Subservicing Agreement or
substitute servicing agreement and the Mortgage Loans then being serviced
thereunder and an accounting of amounts collected or held by it and otherwise
use its best efforts to effect the orderly and efficient transfer of such
substitute Subservicing Agreement to the assuming party. All costs incurred in
connection with the transition of the servicing to the Trustee or the successor
Servicer shall be paid by the predecessor Servicer and if not so paid shall be
reimbursed to the Trustee by the Trust. If the Trustee is acting as Servicer
pursuant to either Section 7.05 or Section 8.05, all costs incurred by the
Trustee, acting as Servicer, in connection with the transition of the servicing
from the Trustee to a successor Servicer shall be paid by the predecessor
Servicer from which the Trustee took over as Servicer pursuant to either Section
7.05 or Section 8.05, and if not so paid shall be reimbursed to the Trustee by
the Trust.

     Section  3.08......Collection of Mortgage Loan Payments; Servicer Custodial
Accounts; Certificate Account; and Upper-Tier Certificate Account.

     (a)  Each  Servicer  will  proceed  diligently,  in  accordance  with  this
Agreement,  to collect  all  payments  due under each of the  Mortgage  Loans it
services when the same shall become due and payable. Further, each Servicer will
in accordance  with all  applicable  law, the terms of the Mortgage  Loans,  and
Customary Servicing Procedures  applicable thereto ascertain and estimate taxes,
assessments, fire and hazard insurance premiums, mortgage insurance premiums and
all other  charges  with  respect to the  Mortgage  Loans it services  that,  as
provided  in any  Mortgage,  will  become  due and  payable  to the end that the
installments payable by the Mortgagors will be sufficient to pay such charges as
and when they  become  due and  payable.  Consistent  with the  foregoing,  each
Servicer  may in its  discretion  (i)  waive  any  late  payment  charge  or any
prepayment  charge or penalty  interest in connection  with the  prepayment of a
Mortgage  Loan it services  and (ii) extend the due dates for  payments due on a
Mortgage Note for a period not greater than 120 days;  provided,  however,  that
such Servicer cannot extend the maturity of any such Mortgage Loan past the date
on which the final payment is due on the latest maturing Mortgage Loan as of the
Cut-Off Date.  In the event of any such  arrangement,  such Servicer  shall make
Periodic Advances on the related Mortgage Loan in accordance with the provisions
of Section 3.20 during the scheduled  period in accordance with the amortization
schedule of such  Mortgage Loan without  modification  thereof by reason of such
arrangements.  No Servicer  shall be required to institute or join in litigation
with respect to collection of any payment  (whether  under a Mortgage,  Mortgage
Note or otherwise or against any public or  governmental  authority with respect
to a taking or  condemnation)  if it  reasonably  believes  that  enforcing  the
provision of the Mortgage or other instrument  pursuant to which such payment is
required is prohibited by applicable law.

     (b) Each  Servicer  shall  establish  and  maintain  a  Servicer  Custodial
Account.  Each Servicer  shall deposit or cause to be deposited into the related
Servicer  Custodial  Account,  all on a daily basis  within one  Business Day of
receipt,  except  as  otherwise  specifically  provided  herein,  the  following
payments and  collections  remitted by the related  Subservicers  or received by
such  Servicer in respect of the Mortgage  Loans it services  subsequent  to the
Cut-Off  Date  (other  than in  respect of  principal  and  interest  due on the
Mortgage Loans on or before the Cut-Off Date) and the following amounts required
to be deposited hereunder with respect to the Mortgage Loans it services:

          (i) all  payments  on  account of  principal  of the  Mortgage  Loans,
     including Principal Prepayments;

          (ii) all payments on account of interest on the Mortgage Loans, net of
     the Servicing Fee;

          (iii) (A) all Insurance Proceeds and Liquidation Proceeds,  other than
     Insurance  Proceeds to be (1) applied to the  restoration  or repair of the
     Mortgaged  Property,  (2)  released to the  Mortgagor  in  accordance  with
     Customary  Servicing  Procedures,  the  terms  of  the  Mortgage  Loan,  or
     applicable  law  or (3)  required  to be  deposited  to an  Escrow  Account
     pursuant to Section 3.09(a) and (B) any Insurance Proceeds released from an
     Escrow Account pursuant to Section 3.09(b)(iv);

          (iv) any amount required to be deposited by such Servicer  pursuant to
     Section 3.08(d) in connection with any losses on Permitted Investments with
     respect to the related Servicer Custodial Account;

          (v) any amounts required to be deposited by such Servicer  pursuant to
     Section 3.14;

          (vi) all Repurchase  Prices,  all Substitution  Adjustment Amounts and
     all Subsequent Recoveries received by such Servicer;

          (vii) Periodic Advances made by such Servicer pursuant to Section 3.20
     and any payments of Compensating Interest; and

          (viii) any other amounts required to be deposited hereunder.

            The foregoing requirements for deposits to a Servicer Custodial
Account by the related Servicer shall be exclusive, it being understood and
agreed that, without limiting the generality of the foregoing, payments in the
nature of prepayment penalties, late payment charges or assumption fees, if
collected, need not be deposited by such Servicer. If a Servicer shall deposit
in the related Servicer Custodial Account any amount not required to be
deposited, it may at any time withdraw or direct the institution maintaining
such Servicer Custodial Account to withdraw such amount from such Servicer
Custodial Account, any provision herein to the contrary notwithstanding. A
Servicer Custodial Account may contain funds that belong to one or more trust
funds created for mortgage pass-through certificates of other series and may
contain other funds respecting payments on mortgage loans belonging to such
Servicer or serviced by such Servicer on behalf of others; provided that such
commingling of funds shall not be permitted at any time during which Fitch's
senior long-term unsecured debt rating of such Servicer is below "A."
Notwithstanding such commingling of funds, each Servicer shall keep records that
accurately reflect the funds on deposit in the related Servicer Custodial
Account that have been identified by it as being attributable to the Mortgage
Loans it services. Each Servicer shall maintain adequate records with respect to
all withdrawals made pursuant to this Section 3.08. All funds required to be
deposited in a Servicer Custodial Account shall be held in trust for the
Certificateholders until withdrawn in accordance with Section 3.11.

     (c) The Certificate  Administrator shall establish and maintain,  on behalf
of  the   Certificateholders,   the   Certificate   Account.   The   Certificate
Administrator shall,  promptly upon receipt,  deposit in the Certificate Account
and retain therein the following:

          (i) the aggregate  amount remitted by the Servicers to the Certificate
     Administrator pursuant to Section 3.11(a)(ix);

          (ii) any amount  paid by the  Certificate  Administrator  pursuant  to
     Section 3.08(d) in connection with any losses on Permitted Investments with
     respect to the Certificate Account; and

          (iii) any other amounts  deposited  hereunder which are required to be
     deposited in the Certificate Account.

            If a Servicer shall remit any amount not required to be remitted, it
may at any time direct the Certificate Administrator to withdraw such amount
from the Certificate Account, any provision herein to the contrary
notwithstanding. Such direction may be accomplished by delivering an Officer's
Certificate to the Certificate Administrator which describes the amounts
deposited in error in the Certificate Account. All funds required to be
deposited in the Certificate Account shall be held by the Certificate
Administrator in trust for the Certificateholders until disbursed in accordance
with this Agreement or withdrawn in accordance with Section 3.11. In no event
shall the Certificate Administrator incur liability for withdrawals from the
Certificate Account at the direction of a Servicer.

     (d)  Each  institution  at  which  a  Servicer  Custodial  Account  or  the
Certificate  Account is maintained shall invest the funds therein as directed in
writing  by the  related  Servicer  or as set  forth  herein,  respectively,  in
Permitted  Investments,  which shall  mature not later than (i) in the case of a
Servicer  Custodial  Account,  the  Business  Day  next  preceding  the  related
Remittance  Date (except that if such  Permitted  Investment is an obligation of
the  institution  that  maintains such account,  then such Permitted  Investment
shall  mature not later than such  Remittance  Date) and (ii) in the case of the
Certificate  Account,  the Business Day next  preceding  the  Distribution  Date
(except that if such  Permitted  Investment is an obligation of the  institution
that maintains such account,  then such  Permitted  Investment  shall mature not
later  than such  Distribution  Date) and,  in each  case,  shall not be sold or
disposed of prior to its maturity.  All such Permitted Investments shall be made
in the name of the  Trustee,  for the  benefit  of the  Certificateholders.  All
income or gain (net of any losses) realized from any such investment of funds on
deposit in a Servicer  Custodial Account shall be for the benefit of the related
Servicer  as  servicing  compensation  and shall be  retained  by it  monthly as
provided  herein.  All income or gain (net of any losses) realized from any such
investment  of funds on  deposit  in the  Certificate  Account  shall be for the
benefit of the Certificate Administrator as additional compensation and shall be
retained by it monthly as provided herein. Any and all amounts on deposit in the
Certificate  Account  will be in invested in (i)  997981022  CUSIP for  Delaware
Money Market, (ii) to the extent the investment listed in (i) is unavailable for
any reason,  Evergreen Prime Cash Management Money Market Fund - Fund number 494
- Symbol  EPRXX or (iii) to the  extent the  investments  listed in (i) and (ii)
above are unavailable for any reason,  such amount will be held uninvested.  The
amount of any losses realized in a Servicer Custodial Account or the Certificate
Account in respect of any such  investments  shall  promptly be deposited by the
related  Servicer  in such  Servicer  Custodial  Account  or by the  Certificate
Administrator in the Certificate Account, as applicable.

     (e) Each Servicer  shall give notice to the Trustee of any proposed  change
of the location of the related  Servicer  Custodial  Account  maintained by such
Servicer  not later  than 30 days and not more than 45 days  prior to any change
thereof.  The Certificate  Administrator shall give notice to the Trustee,  each
Servicer,  each Rating  Agency and the  Depositor of any proposed  change of the
location of the Certificate  Account not later than 30 days and not more than 45
days prior to any change thereof.  The creation of a Servicer  Custodial Account
shall be evidenced  by a  certification  substantially  in the form of Exhibit F
hereto.  A copy of such  certification  shall be  furnished  to the  Certificate
Administrator.

     (f)  The  Certificate   Administrator  shall  establish  and  maintain  the
Upper-Tier  Certificate Account. 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  Depositor),  the  Certificate
Administrator shall, from funds available on deposit in the Certificate Account,
deposit, in immediately available funds, by wire transfer or otherwise, into the
Upper-Tier  Certificate  Account, the Lower-Tier  Distribution  Amount.

Section
3.09......Collection  of Taxes,  Assessments and Similar Items; Escrow Accounts.

     (a) To the extent  required by the related  Mortgage Note and not violative
of current law, each Servicer shall  segregate and hold all funds  collected and
received  pursuant to each Mortgage  Loan which  constitute  Escrow  Payments in
trust  separate  and apart from any of its own funds and general  assets and for
such  purpose  shall   establish  and  maintain  one  or  more  escrow  accounts
(collectively,  the "Escrow  Accounts"),  in each case titled  "[Insert  name of
Servicer],  in trust for registered holders of Wachovia Mortgage Loan Trust, LLC
Mortgage Pass-Through Certificates,  Series 2005-A and various Mortgagors." Each
Escrow Account shall be established  with a commercial bank, a savings bank or a
savings  and loan  association  that meets the  guidelines  set forth by FNMA or
FHLMC as an eligible  institution  for escrow  accounts and which is a member of
the Automated  Clearing House. In any case, each Escrow Account shall be insured
by the FDIC to the fullest extent  permitted by law. Each Servicer shall deposit
in the appropriate Escrow Account on a daily basis, and retain therein:  (i) all
Escrow  Payments  collected on account of the Mortgage  Loans,  (ii) all amounts
representing  proceeds of any hazard insurance policy which are to be applied to
the  restoration  or  repair of any  related  Mortgaged  Property  and (iii) all
amounts  representing  proceeds of any Primary Insurance Policy.  Nothing herein
shall require a Servicer to compel a Mortgagor to establish an Escrow Account in
violation of applicable law or the terms of the related Mortgage Loan.

     (b)  Withdrawals  of amounts so collected  from the Escrow  Accounts may be
made by a Servicer  only (i) to effect  timely  payment  of taxes,  assessments,
mortgage insurance premiums, fire and hazard insurance premiums,  condominium or
PUD association dues, or comparable items  constituting  Escrow Payments for the
related Mortgage,  (ii) to reimburse the Servicer out of related Escrow Payments
made with  respect  to a Mortgage  Loan for any  Servicing  Advance  made by the
Servicer  pursuant to Section 3.09(c) with respect to such Mortgage Loan,  (iii)
to refund to any Mortgagor any sums determined to be overages, (iv) for transfer
to a Servicer  Custodial  Account upon  default of a Mortgagor or in  accordance
with the terms of the related  Mortgage Loan and if permitted by applicable law,
(v) for application to restore or repair the Mortgaged Property,  (vi) to pay to
the Mortgagor,  to the extent required by law or the terms of the Mortgage Loan,
any interest paid on the funds deposited in the applicable Escrow Account, (vii)
to pay to itself any interest earned on funds deposited in the applicable Escrow
Accounts  (and not required to be paid to the  Mortgagor),  (viii) to the extent
permitted  under the terms of the related  Mortgage Note and applicable  law, to
pay late fees with respect to any Monthly  Payment  which is received  after the
applicable grace period,  (ix) to withdraw  suspense payments that are deposited
into an Escrow Account, (x) to withdraw any amounts  inadvertently  deposited in
and Escrow  Account or (xi) to clear and terminate  any Escrow  Account upon the
termination  of this  Agreement in  accordance  with Section  10.01.  Any Escrow
Account  shall  not be a part of the  Trust  Estate.

     (c) With  respect to each  Mortgage  Loan,  each  Servicer  shall  maintain
accurate records  reflecting the status of taxes,  assessments and other charges
which are or may  become a lien upon the  Mortgaged  Property  and the status of
Primary Insurance Policy premiums and fire and hazard insurance  coverage.  Each
Servicer  shall  obtain,  from time to time,  all bills for the  payment of such
charges  (including  renewal premiums) and shall effect payment thereof prior to
the  applicable  penalty  or  termination  date  and at a time  appropriate  for
securing maximum discounts allowable, employing for such purpose deposits of the
Mortgagor in the Escrow  Account,  if any,  which shall have been  estimated and
accumulated by such Servicer in amounts sufficient for such purposes, as allowed
under the terms of the Mortgage  Loan.  To the extent that a Mortgage  Loan does
not provide for Escrow Payments,  such Servicer shall determine whether any such
payments are made by the Mortgagor.  Each Servicer  assumes full  responsibility
for the timely payment of all such bills and shall effect timely payments of all
such bills irrespective of each Mortgagor's  faithful performance in the payment
of same or the making of the Escrow  Payments.  Each Servicer  shall advance any
such payments that are not timely paid,  but each Servicer  shall be required so
to advance only to the extent that such  Servicing  Advances,  in the good faith
judgment of the related  Servicer,  will be  recoverable by such Servicer out of
Insurance Proceeds,  Liquidation Proceeds or otherwise.

     Section 3.10      Access to Certain Documentation and Information Regarding
the Mortgage Loans.

            Each Servicer shall afford the Certificate Administrator and the
Trustee reasonable access to all records and documentation in its possession
regarding the Mortgage Loans it services and all accounts, insurance information
and other matters relating to this Agreement, such access being afforded without
charge, but only upon reasonable request and during normal business hours at the
office designated by each Servicer.

            Upon reasonable advance notice in writing, each Servicer will
provide to each Certificateholder which is a savings and loan association, bank
or insurance company certain reports and reasonable access to information and
documentation regarding the Mortgage Loans it services sufficient to permit such
Certificateholder to comply with applicable regulations of the OTS or other
regulatory authorities with respect to investment in the Certificates; provided
that each Servicer shall be entitled to be reimbursed by each such
Certificateholder for actual expenses incurred by such Servicer in providing
such reports and access.

     Section   3.11      Permitted   Withdrawals  from  the  Servicer  Custodial
Accounts; Certificate Account and Upper-Tier Certificate Account.

     (a) Each Servicer may from time to time make  withdrawals  from the related
Servicer Custodial Account, for the following purposes:

          (i) to pay to such Servicer (to the extent not  previously  retained),
     the  servicing  compensation  to which it is  entitled  pursuant to Section
     3.17, and to pay to such Servicer,  as additional  servicing  compensation,
     earnings on or  investment  income with  respect to funds in or credited to
     such Servicer Custodial Account;

          (ii) to reimburse such Servicer for unreimbursed  Advances made by it,
     such right of  reimbursement  pursuant to this clause (ii) being limited to
     amounts  received  on the  Mortgage  Loan(s)  in  respect of which any such
     Advance was made;

          (iii)  to  reimburse  such  Servicer  for any  Nonrecoverable  Advance
     previously  made or any Advances  capitalized  in  accordance  with Section
     3.21(c);

          (iv) to reimburse such Servicer for Insured  Expenses from the related
     Insurance  Proceeds;  (v) to pay to the  purchaser,  with  respect  to each
     Mortgage Loan or REO Property that has been  purchased  pursuant to Section
     2.02 or 2.04, all amounts received thereon after the date of such purchase;

          (vi) to reimburse the Trustee and the Certificate  Administrator  for,
     or to pay, expenses incurred by either such party which are reimbursable or
     payable  pursuant to Section 3.07,  Section  8.01,  Section 9.07 or Section
     9.11 of this Agreement;

          (vii)  to  reimburse  such  Servicer  or the  Depositor  for  expenses
     incurred by any of them and reimbursable pursuant to Section 7.03;

          (viii) to withdraw  any amount  deposited in such  Servicer  Custodial
     Account and not required to be deposited therein;

          (ix) on or prior to the  Remittance  Date, to withdraw an amount equal
     to  the  related  Pool  Distribution   Amount,   the  related   Certificate
     Administrator  Fee for such  Distribution Date and any other amounts due to
     the Certificate  Administrator  and the Trustee under this  Agreement,  and
     remit  such  amount  in  immediately  available  funds  to the  Certificate
     Administrator for deposit in the Certificate Account; and

          (x) to clear  and  terminate  such  Servicer  Custodial  Account  upon
     termination of this Agreement pursuant to Section 10.01.

            Each Servicer shall keep and maintain separate accounting records,
on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any
withdrawal from the related Servicer Custodial Account pursuant to clauses (i),
(ii), (iv) and (v). Prior to making any withdrawal from the Servicer Custodial
Account pursuant to clause (iii), each Servicer shall deliver to the Certificate
Administrator an Officer's Certificate of a Servicing Officer indicating the
amount of any previous Advance determined by such Servicer to be a
Nonrecoverable Advance and identifying the related Mortgage Loan(s) and their
respective portions of such Nonrecoverable Advance.

     (b) The Certificate Administrator shall withdraw funds from the Certificate
Account for distributions to  Certificateholders in the manner specified in this
Agreement. In addition, the Certificate Administrator may from time to time make
withdrawals from the Certificate Account for the following purposes:

          (i) to pay to itself the Certificate Administrator Fee for the related
     Distribution Date;

          (ii)  to pay to  itself  as  additional  compensation  earnings  on or
     investment income with respect to funds in the Certificate Account;

          (iii) to  withdraw  and  return to the  related  Servicer  any  amount
     deposited  in the  Certificate  Account and not  required  to be  deposited
     therein; and

          (iv) to clear and terminate the Certificate  Account upon  termination
     of the Agreement pursuant to Section 10.01.

          (c)  Notwithstanding  anything  herein to the  contrary,  the  Regular
     Certificates   and  the  Class   1-A-R   Certificates   shall  not  receive
     distributions  directly from the Certificate  Account. On each Distribution
     Date, funds on deposit in the Upper-Tier  Certificate Account shall be used
     to  make  payments  on  the  Regular   Certificates  and  the  Class  1-A-R
     Certificates  as  provided  in  Sections  5.01  and  5.02.  The  Upper-Tier
     Certificate  Account shall be cleared and  terminated  upon  termination of
     this Agreement pursuant to Section 10.01.

     Section 3.12 Maintenance of Hazard Insurance.

            Each Servicer shall cause to be maintained for each Mortgage Loan it
services, fire and hazard insurance with extended coverage customary in the area
where the Mortgaged Property is located in an amount which is at least equal to
the lesser of (a) the full insurable value of the Mortgaged Property or (b) the
greater of (i) the outstanding principal balance owing on the Mortgage Loan and
(ii) an amount such that the proceeds of such insurance shall be sufficient to
avoid the application to the Mortgagor or loss payee of any coinsurance clause
under the policy. If the Mortgaged Property is in an area identified in the
Federal Register by the Federal Emergency Management Agency as having special
flood hazards (and such flood insurance has been made available) the Servicer
servicing the related Mortgage Loan will cause to be maintained a flood
insurance policy meeting the requirements of the current guidelines of the
Federal Insurance Administration and the requirements of FNMA or FHLMC. Each
Servicer shall also maintain on REO Property, fire and hazard insurance with
extended coverage in an amount which is at least equal to the maximum insurable
value of the improvements which are a part of such property, liability insurance
and, to the extent required, flood insurance in an amount required above. Any
amounts collected by a Servicer under any such policies (other than amounts to
be deposited in an Escrow Account and applied to the restoration or repair of
the property subject to the related Mortgage or property acquired in liquidation
of the Mortgage Loan, or to be released to the Mortgagor in accordance with the
terms of the Mortgage Loan, applicable law, or applicable Customary Servicing
Procedures) shall be deposited in the related Servicer Custodial Account,
subject to withdrawal pursuant to Section 3.11(a). It is understood and agreed
that no earthquake or other additional insurance need be required by a Servicer
of any Mortgagor or maintained on REO Property, other than pursuant to such
applicable laws and regulations as shall at any time be in force and as shall
require such additional insurance. All policies required hereunder shall be
endorsed with standard mortgagee clauses with loss payable to the related
Servicer, and shall provide for at least 30 days prior written notice of any
cancellation, reduction in amount or material change in coverage to such
Servicer.

            The hazard insurance policies for each Mortgage Loan secured by a
unit in a condominium development or planned unit development shall be
maintained with respect to such Mortgage Loan and the related development in a
manner which is consistent with FNMA requirements.

            Notwithstanding the foregoing, each Servicer may maintain a blanket
policy insuring against hazard losses on all of the Mortgaged Properties
relating to the Mortgage Loans in lieu of maintaining the required hazard
insurance policies for each Mortgage Loan and may maintain a blanket policy
insuring against special flood hazards in lieu of maintaining any required flood
insurance. Any such blanket policies shall (A) be consistent with prudent
industry standards, (B) name the related Servicer as loss payee, (C) provide
coverage in an amount equal to the aggregate unpaid principal balance on the
related Mortgage Loans without co-insurance, and (D) otherwise comply with the
requirements of this Section 3.12. Any such blanket policy may contain a
deductible clause; provided that if any Mortgaged Property is not covered by a
separate policy otherwise complying with this Section 3.12 and a loss occurs
with respect to such Mortgaged Property which loss would have been covered by
such a policy, the related Servicer shall deposit in the related Servicer
Custodial Account the difference, if any, between the amount that would have
been payable under a separate policy complying with this Section 3.12 and the
amount paid under such blanket policy.

     Section    3.13      Enforcement   of   Due-On-Sale   Clauses;   Assumption
Agreements.  Each  Servicer  shall,  to  the  extent  it  has  knowledge  of any
conveyance or prospective  conveyance of any Mortgaged Property by any Mortgagor
(whether by absolute  conveyance or by contract of sale,  and whether or not the
Mortgagor  remains or is to remain  liable  under the  Mortgage  Note and/or the
Mortgage),  exercise its rights to accelerate the maturity of such Mortgage Loan
under the "due-on-sale" clause, if any, applicable thereto;  provided,  however,
that no Servicer  shall exercise any such rights if prohibited by law from doing
so.

     Section 3.14 Realization Upon Defaulted Mortgage Loans; REO Property.

     (a) Each  Servicer  shall  use  reasonable  efforts  to  foreclose  upon or
otherwise comparably convert the ownership of Mortgaged Properties securing such
of the Mortgage Loans (but shall not sell or convey such Mortgage  Loan,  except
as required  pursuant to Section 2.02,  2.04 or 10.01 of this Agreement) as come
into and continue in default and as to which no satisfactory arrangements can be
made for collection of delinquent payments.  In connection with such foreclosure
or  other  conversion,  each  Servicer  shall  follow  the  Customary  Servicing
Procedures applicable to it and shall meet the requirements of the insurer under
any Required Insurance Policy; provided, however, that a 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 alone or together with other
subordinated  mortgage  pass-through  certificates.   Such  agreement  shall  be
substantially in the form attached hereto as Exhibit K or subject to each Rating
Agency's   acknowledgment  that  the  ratings  of  the  Certificates  in  effect
immediately  prior to the entering into 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
related  Servicer 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 such
Servicer acted in accordance  with its normal  procedures.  Notwithstanding  the
foregoing,  no Servicer  shall be required to expend its own funds in connection
with any foreclosure or towards the restoration of any Mortgaged Property unless
it shall determine (i) that such  restoration  and/or  foreclosure will increase
the proceeds of liquidation of the Mortgage Loan after  reimbursement  to itself
of such expenses and (ii) that such expenses will be  recoverable  to it through
proceeds of the liquidation of the Mortgage Loan (respecting which it shall have
priority  for  purposes  of  withdrawals  from the  related  Servicer  Custodial
Account). Any such expenditures shall constitute Servicing Advances for purposes
of this Agreement.

            The decision of a Servicer to foreclose on a Defaulted Mortgage Loan
shall be subject to a determination by such Servicer that the proceeds of such
foreclosure would exceed the costs and expenses of bringing such a proceeding.

            With respect to any REO Property, the deed or certificate of sale
shall be taken in the name of the Trustee for the benefit of the
Certificateholders, or its nominee, on behalf of the Certificateholders. The
Trustee's name shall be placed on the title to such REO Property solely as the
Trustee hereunder and not in its individual capacity. The Servicer servicing the
related Mortgage Loan shall ensure that the title to such REO Property
references this Agreement and the Trustee's capacity hereunder. Pursuant to its
efforts to sell such REO Property, such Servicer shall either itself or through
an agent selected by the Servicer manage, conserve, protect and operate such REO
Property in the same manner that it manages, conserves, protects and operates
other foreclosed property for its own account and in the same manner that
similar property in the same locality as the REO Property is managed. Incident
to its conservation and protection of the interests of the Certificateholders,
such Servicer may rent the same, or any part thereof, as such Servicer deems to
be in the best interest of the Certificateholders for the period prior to the
sale of such REO Property. Each Servicer shall prepare for and deliver to the
Certificate Administrator and the Trustee a statement with respect to each REO
Property that has been rented, if any, showing the aggregate rental income
received and all expenses incurred in connection with the management and
maintenance of such REO Property at such times as is necessary to enable the
Certificate Administrator to comply with the reporting requirements of the REMIC
Provisions; provided, however, that no Servicer shall have a duty to rent any
REO Property on behalf of the Trust. The net monthly rental income, if any, from
such REO Property shall be deposited in the related Servicer Custodial Account
no later than the close of business on each Determination Date. Each Servicer
shall perform, with respect to the Mortgage Loans, the tax reporting and
withholding required by Sections 1445 and 6050J of the Code with respect to
foreclosures and abandonments, the tax reporting required by Section 6050H of
the Code with respect to the receipt of mortgage interest from individuals and,
if required by Section 6050P of the Code, with respect to the cancellation of
indebtedness by certain financial entities, by preparing such tax and
information returns as may be required, in the form required. Each Servicer
shall deliver copies of such reports to the Certificate Administrator and the
Trustee.

            The income earned from the management of any REO Properties, net of
reimbursement to a Servicer for expenses incurred (including any property or
other taxes) in connection with such management and net of unreimbursed
Servicing Fees, Periodic Advances and Servicing Advances applicable to such
Servicer, shall be applied to the payment of principal of and interest on the
related Defaulted Mortgage Loans (solely for the purposes of allocating
principal and interest, interest shall be treated as accruing as though such
Mortgage Loans were still current) and all such income shall be deemed, for all
purposes in this Agreement, to be payments on account of principal and interest
on the related Mortgage Notes and shall be deposited into the related Servicer
Custodial Account. To the extent the net income received during any calendar
month is in excess of the amount attributable to amortizing principal and
accrued interest at the related Mortgage Interest Rate on the related Mortgage
Loan for such calendar month, such excess shall be considered to be a partial
prepayment of principal of the related Mortgage Loan.

            The proceeds from any liquidation of a Mortgage Loan, as well as any
income from an REO Property, will be applied in the following order of priority:
first, to reimburse the Servicer servicing such Mortgage Loan for any related
unreimbursed Servicing Advances and Servicing Fees; second, to reimburse such
Servicer for any unreimbursed Periodic Advances and to reimburse the related
Servicer Custodial Account for any Nonrecoverable Advances (or portions thereof)
that were previously withdrawn by the Servicer pursuant to Section 3.11(a)(ii)
that related to such Mortgage Loan; third, to reimburse the Certificate
Administrator and the Trustee for any amounts incurred by them in connection
with such Mortgage Loan; fourth, to accrued and unpaid interest (to the extent
no Periodic Advance has been made for such amount or any such Periodic Advance
has been reimbursed) on the Mortgage Loan or related REO Property, at the
Mortgage Interest Rate to the Due Date occurring in the month in which such
amounts are required to be distributed; and fifth, as a recovery of principal of
the Mortgage Loan. Excess Proceeds, if any, from the liquidation of a Liquidated
Mortgage Loan will be retained by the Servicer as additional servicing
compensation pursuant to Section 3.17.

     (b) When a Mortgage  Loan becomes a Defaulted  Mortgage  Loan,  the related
Servicer shall promptly notify the Certificate Administrator of such occurrence.

     Section  3.15      Custodian to Cooperate;  Release of Mortgage Files. Upon
the  payment  in full of any  Mortgage  Loan,  or the  receipt  by the  Servicer
servicing  such  Mortgage  Loan of a  notification  that payment in full will be
escrowed in a manner customary for such purposes, such Servicer will immediately
notify the Custodian by delivering,  or causing to be delivered, two copies (one
of which will be returned to such Servicer with the Mortgage  File) of a Request
for Release  (which may be delivered in an electronic  format  acceptable to the
Custodian and such Servicer).  Upon receipt of such request, the Custodian shall
within  seven  Business  Days  release  the related  Mortgage  File to or at the
direction  of such  Servicer.  The Trustee  shall at such  Servicer's  direction
execute and deliver to such  Servicer  the  request  for  reconveyance,  deed of
reconveyance or release or satisfaction of mortgage or such instrument releasing
the lien of the Mortgage, in each case provided by such Servicer,  together with
the Mortgage Note with written evidence of cancellation thereon. If the Mortgage
has been recorded in the name of MERS or its designee,  such Servicer shall take
all  necessary  action to reflect the release of the  Mortgage on the records of
MERS. To the extent  permitted by the terms of the Mortgage Loan and  applicable
law, expenses incurred in connection with any instrument of satisfaction or deed
of reconveyance shall be chargeable to the related Mortgagor.  From time to time
and as shall be  appropriate  for the servicing or  foreclosure  of any Mortgage
Loan, including for such purpose collection under any policy of flood insurance,
any  fidelity  bond or  errors  or  omissions  policy,  or for the  purposes  of
effecting  a partial  release  of any  Mortgaged  Property  from the lien of the
Mortgage or the making of any  corrections  to the Mortgage Note or the Mortgage
or any of the other  documents  included in the  Mortgage  File,  the  Custodian
shall,  upon  delivery to the  Custodian  of a Request  for Release  signed by a
Servicing  Officer,  release the Mortgage File within seven Business Days to the
Servicer  servicing such Mortgage  Loan.  Such Servicer shall cause the Mortgage
File so released to be returned to the  Custodian  when the need therefor by the
Servicer  no longer  exists,  unless the  Mortgage  Loan is  liquidated  and the
proceeds thereof are deposited in the related  Servicer  Custodial  Account,  in
which case such  Servicer  shall deliver to the Custodian a Request for Release,
signed by a Servicing Officer.

            The Trustee shall execute and deliver to each Servicer any powers of
attorney and other documents prepared by such Servicer that are reasonably
necessary or appropriate to enable such Servicer to carry out its servicing and
administrative duties under this Agreement, upon the request of such Servicer.
In addition, upon prepayment in full of any Mortgage Loan or the receipt of
notice that funds for such purpose have been placed in escrow, each Servicer is
authorized to give, as attorney-in-fact for the Trustee and the mortgagee under
the Mortgage, an instrument of satisfaction (or Assignment of Mortgage without
recourse) regarding the Mortgaged Property relating to such Mortgage Loan, which
instrument of satisfaction or Assignment of Mortgage, as the case may be, shall
be delivered to the Person entitled thereto against receipt of the prepayment in
full. If the Mortgage is registered in the name of MERS or its designee, such
Servicer shall take all necessary action to reflect the release on the records
of MERS. Such Servicer may deliver or cause to be delivered to the Trustee, for
signature, as appropriate, any court pleadings, requests for trustee's sale or
other documents necessary to effectuate any foreclosure or any legal action
brought to obtain judgment against the Mortgagor on the Mortgage Note or the
Mortgage or to obtain a deficiency judgment or to enforce any other remedies or
rights provided by the Mortgage Note or the Mortgage otherwise available at law
or in equity.

     Section 3.16 Documents, Records and Funds in Possession of the Servicers to
be Held for the Trustee.

            Each Servicer shall transmit to the Custodian all documents and
instruments in respect of a Mortgage Loan coming into the possession of such
Servicer from time to time and shall account fully to the Certificate
Administrator and the Trustee for any funds received by such Servicer or which
otherwise are collected by such Servicer as Liquidation Proceeds or Insurance
Proceeds in respect of any Mortgage Loan. The documents constituting the
Servicing File shall be held by the Servicer servicing the related Mortgage Loan
as custodian and bailee for the Trustee. All Mortgage Files and funds collected
or held by, or under the control of, a Servicer in respect of any Mortgage
Loans, whether from the collection of principal and interest payments or from
Liquidation Proceeds, including but not limited to, any funds on deposit in the
related Servicer Custodial Account, shall be held by such Servicer for and on
behalf of the Trustee and shall be and remain the sole and exclusive property of
the Trustee, subject to the applicable provisions of this Agreement. Each
Servicer also agrees that it shall not knowingly create, incur or subject any
Mortgage File or any funds that are deposited in the related Servicer Custodial
Account, Certificate Account or any Escrow Account, or any funds that otherwise
are or may become due or payable to the Trustee for the benefit of the
Certificateholders, to any claim, lien, security interest, judgment, levy, writ
of attachment or other encumbrance created by such Servicer, or assert by legal
action or otherwise any claim or right of setoff against any Mortgage File or
any funds collected on, or in connection with, a Mortgage Loan, except, however,
that each Servicer shall be entitled to set off against and deduct from any such
funds any amounts that are properly due and payable to such Servicer under this
Agreement. Section 3.17......Servicing Compensation.

            Each Servicer shall be entitled out of each payment of interest (or
portion thereof) on a Mortgage Loan it services to retain or withdraw from the
related Servicer Custodial Account an amount equal to the Servicing Fee for such
Distribution Date.

            Additional servicing compensation in the form of Excess Proceeds,
prepayment penalties, assumption fees, late payment charges and all income and
gain net of any losses realized from Permitted Investments and all other
customary and ancillary income and fees shall be retained by a Servicer to the
extent not required to be deposited in the related Servicer Custodial Account
pursuant to Section 3.08(b). Each Servicer shall be required to pay all expenses
incurred by it in connection with its servicing activities hereunder and shall
not be entitled to reimbursement therefor except as specifically provided in
this Agreement.

            Notwithstanding the foregoing, with respect to the payment of the
Servicing Fee on any Distribution Date, the aggregate Servicing Fee for a
Servicer for such Distribution Date shall be reduced (but not below zero) by an
amount equal to the lesser of (a) the Prepayment Interest Shortfall for such
Distribution Date relating to the Mortgage Loans it services and (b) one-twelfth
of 0.25% of the aggregate Stated Principal Balance of such Mortgage Loans for
such Distribution Date (any such reduction, "Compensating Interest").

     Section 3.18 Annual Statement as to Compliance.

            Commencing in the calendar year following the date of this
Agreement, each Servicer shall deliver to the Depositor on or before the 30th
day (or if not a Business Day, the immediately preceding Business Day) preceding
the latest day in each year on which an annual report on Form 10-K may be timely
filed with the Securities and Exchange Commission (without regard to any
extension), an Officer's Certificate stating, as to the signer thereof, that (a)
a review of the activities of such Servicer during the preceding calendar year
and of the performance of such Servicer under this Agreement has been made under
such officer's supervision, and (b) to the best of such officer's knowledge,
based on such review, such Servicer has fulfilled all its obligations under this
Agreement throughout such year, or, if there has been a default in the
fulfillment of any such obligation, specifying each such default known to such
officer and the nature and status thereof.

     Section 3.19 Annual Independent Public  Accountants'  Servicing  Statement;
Financial Statements.

            Commencing in the calendar year following the date of this
Agreement, each Servicer shall, at its own expense, on or before the 30th day
(or if not a Business Day, the immediately preceding Business Day) preceding the
latest day in each year on which an annual report on Form 10-K may be timely
filed with the Securities and Exchange Commission (without regard to any
extension), cause a firm of independent public accountants (who may also render
other services to such Servicer or any affiliate thereof) which is a member of
the American Institute of Certified Public Accountants to furnish a statement to
the Depositor to the effect that such firm has with respect to such Servicer's
overall servicing operations, examined such operations in accordance with the
requirements of the Uniform Single Attestation Program for Mortgage Bankers,
stating such firm's conclusions relating thereto.

     Section 3.20     Advances.

            Each Servicer shall determine on or before each Servicer Advance
Date whether it is required to make a Periodic Advance pursuant to the
definition thereof. If a Servicer determines it is required to make a Periodic
Advance, it shall, on or before the Servicer Advance Date, either (a) deposit
into the related Servicer Custodial Account an amount equal to the Advance
and/or (b) make an appropriate entry in its records relating to the related
Servicer Custodial Account that any portion of the Amount Held for Future
Distribution with respect to a Loan Group in such Servicer Custodial Account has
been used by such Servicer in discharge of its obligation to make any such
Periodic Advance on a Mortgage Loan in such Loan Group. Any funds so applied
shall be replaced by such Servicer by deposit in such Servicer Custodial Account
no later than the close of business on the Business Day preceding the next
Servicer Advance Date. Each Servicer shall be entitled to be reimbursed from the
Servicer Custodial Account for all Advances of its own funds made pursuant to
this Section 3.20 as provided in Section 3.11(a). The obligation to make
Periodic Advances with respect to any Mortgage Loan shall continue until the
ultimate disposition of the REO Property or Mortgaged Property relating to such
Mortgage Loan. Each Servicer shall inform the Certificate Administrator and the
Trustee of the amount of the Periodic Advance to be made by such Servicer with
respect to each Loan Group on each Servicer Advance Date no later than the
related Remittance Date.

            Each Servicer shall deliver to the Certificate Administrator on the
related Servicer Advance Date an Officer's Certificate of a Servicing Officer
indicating the amount of any proposed Periodic Advance determined by such
Servicer to be a Nonrecoverable Advance. Notwithstanding anything to the
contrary, no Servicer shall be required to make any Periodic Advance or
Servicing Advance that would be a Nonrecoverable Advance.

     Section 3.21 Modifications, Waivers, Amendments and Consents.

     (a) Except as  provided  in  Section  3.08(a)  and this  Section  3.21,  no
Servicer  shall agree to enter into,  or shall  enter  into,  any  modification,
waiver (other than a waiver referred to in Section 3.13,  which waiver,  if any,
shall be governed by Section 3.13),  forbearance or amendment of any term of any
Mortgage  Loan,  unless such Mortgage  Loan is a Defaulted  Mortgage  Loan.  All
modifications,  waivers,  forbearances  or amendments of any Defaulted  Mortgage
Loan  shall be in  writing  and shall be  consistent  with  Customary  Servicing
Procedures.

     (b) The related Servicer may, with respect to any Defaulted  Mortgage Loan,
agree to any modification, waiver, forbearance, or amendment of any term of such
Defaulted Mortgage Loan without the consent of the Depositor,  the Trustee,  the
Certificate   Administrator,   the   Custodian,   the   Paying   Agent   or  any
Certificateholder;  provided,  however,  that no  Servicer  shall agree to enter
into, or shall enter into, any modification, waiver, forbearance or amendment of
any  Defaulted  Mortgage  Loan if such  modification,  waiver,  forbearance,  or
amendment would:

          (i) affect the amount or timing of any related  payment of  principal,
     interest or other amount payable thereunder; or

          (ii) in such Servicer's  judgment,  materially impair the security for
     such  Mortgage Loan or reduce the  likelihood of timely  payment of amounts
     due thereon;

unless, in either case, such modification, waiver, forbearance or amendment is,
in such Servicer's judgment, reasonably likely to produce a greater recovery
with respect to such Mortgage Loan than would liquidation. Subject to the
applicable Customary Servicing Procedures, the related Servicer may permit a
forbearance for a Mortgage Loan which such Servicer has been advised would
default if such forbearance is not granted.

     (c)  Any  payment  of   interest,   which  is  deferred   pursuant  to  any
modification,  waiver,  forbearance or amendment permitted hereunder, shall not,
for  purposes  hereof,  including,   without  limitation,   calculating  monthly
distributions to Certificateholders, be added to the unpaid principal balance of
the related Mortgage Loan,  notwithstanding that the terms of such Mortgage Loan
or such modification,  waiver or amendment so permit.  However,  interest may be
capitalized in accordance with a loan modification pursuant to Section 3.21(b).

     (d) The related  Servicer may, to the extent permitted by applicable law or
the terms of the  Mortgage  Loan,  as a condition  to granting  any request by a
Mortgagor  for consent,  modification,  or  amendment,  the granting of which is
within such Servicer's discretion pursuant to the Mortgage Loan and is permitted
by the  terms  of  this  Agreement,  require  that  such  Mortgagor  pay to such
Servicer,  as additional servicing  compensation,  a reasonable or customary fee
for the additional services performed in connection with such request,  together
with any related  costs and  expenses  incurred by such  Servicer,  which amount
shall be retained by such Servicer as  additional  servicing  compensation.  (e)
Each Servicer shall notify the Depositor,  in writing,  of any  modification  or
amendment of any term of any Mortgage Loan it services and the date thereof, and
shall  deliver to the  Custodian  for deposit in the related  Mortgage  File, an
original   counterpart  of  the  agreement  relating  to  such  modification  or
amendment,  promptly (and in any event within ten Business  Days)  following the
execution thereof; provided, however, that if any such modification or amendment
is required by applicable law to be recorded, such Servicer (i) shall deliver to
the  Custodian  a copy  thereof  and (ii) shall  deliver to the  Custodian  such
document,  with evidence of  notification  upon receipt  thereof from the public
recording office, if applicable.

     Section 3.22    Reports to the Securities and Exchange Commission.

     The  Depositor  shall,  on behalf of the Trust,  cause to be filed with the
Securities  and Exchange  Commission any periodic  reports  required to be filed
under the provisions of the Securities Exchange Act of 1934, as amended, and the
rules and regulations of the Securities and Exchange Commission thereunder,  for
so long as any Certificates registered under the 1933 Act are outstanding (other
than the Current  Report on Form 8-K to be filed by the  Depositor in connection
with  computational  materials and the initial  Current Report on Form 8-K to be
filed by the  Depositor in  connection  with the issuance of the  Certificates).
Upon the request of the Depositor,  each Servicer, the Certificate Administrator
and the Trustee shall  cooperate  with the Depositor in the  preparation  of any
such  report and shall  provide  to the  Depositor  in a timely  manner all such
information  or  documentation  as  the  Depositor  may  reasonably  request  in
connection  with the  performance  of its  duties  and  obligations  under  this
Section.

     Section 3.23    Annual Certification.

            (a)...Commencing in the calendar year following the date of this
Agreement, each Servicer shall execute and deliver to the Depositor on or before
the 30th day (or if not a Business Day, the immediately preceding Business Day)
preceding the latest day in each year on which an annual report on Form 10-K may
be timely filed with the Securities and Exchange Commission (without regard to
any extension), an Officer's Certificate for the benefit of the Depositor and
its officers, directors and affiliates, certifying as to the following matters:

            (i) Based on such officer's knowledge, the information in the
      Officer's Certificates and statements delivered pursuant to Sections 3.18
      and 3.19 of this Agreement and all Servicer's Certificates, Officer's
      Certificates and other information relating to the servicing of the
      Mortgage Loans serviced by such Servicer taken as a whole does not contain
      any untrue statement of a material fact or omit to state a material fact
      necessary to make the statements made, in light of the circumstances under
      which such statements were made, not misleading as of the date of this
      certification;

            (ii) The servicing information required to be provided to the
      Depositor by such Servicer under this Agreement has been provided to the
      Depositor;

            (iii) Such officer is responsible for reviewing the activities
      performed by such Servicer under this Agreement and based upon the review
      required by this Agreement, and except as disclosed in the Officer's
      Certificates and statements delivered pursuant to Sections 3.18 and 3.19
      of this Agreement and all Servicer's Certificates, officer's certificates
      and other information relating to the servicing of the Mortgage Loans
      serviced by such Servicer, such Servicer has, as of the date of the
      certification, fulfilled its obligations under this Agreement; and

            (iv) Such officer has disclosed to the Depositor all significant
      deficiencies relating to such Servicer's compliance with the servicing
      criteria set forth in the Uniform Single Attestation Program for Mortgage
      Bankers or in the rules and regulations of the Securities and Exchange
      Commission, as applicable.

      (b) Each Servicer shall indemnify and hold harmless the Depositor and its
officers, directors, agents and affiliates from and against any losses, damages,
penalties, fines, forfeitures, reasonable legal fees and related costs,
judgments and other costs and expenses arising out of or based upon a breach by
such Servicer or any of its officers, directors, agents or affiliates of its
obligations under this Section 3.23 or the negligence, bad faith or willful
misconduct of such Servicer in connection therewith. If the indemnification
provided for herein is unavailable or insufficient to hold harmless the
Depositor, then such Servicer agrees that it shall contribute to the amount paid
or payable by the Depositor as a result of the losses, claims, damages or
liabilities of the Depositor in such proportion as is appropriate to reflect the
relative fault of the Depositor on the one hand and such Servicer on the other
in connection with a breach of such Servicer's obligations under this Section
3.23 or the Servicer's negligence, bad faith or willful misconduct in connection
therewith. The provisions of this Section 3.23 shall survive the termination of
this Agreement.

                                   ARTICLE IV

                             SERVICER'S CERTIFICATE

     Section 4.01    Servicer's Certificates.

            Each month, not later than 12:00 noon Eastern time on the Business
Day following each Determination Date, each Servicer shall deliver to the
Certificate Administrator a Servicer's Certificate (substantially in the form
attached hereto as Exhibit L-1 with respect to Wells Fargo, and Exhibit L-2 with
respect to National City, or, with respect to any successor Servicer, in
substance and format mutually acceptable to such successor Servicer and the
Certificate Administrator) setting forth the information necessary in order for
the Certificate Administrator to perform its obligations under this Agreement.
The Certificate Administrator may conclusively rely upon the information
contained in a Servicer's Certificate for all purposes hereunder and shall have
no duty to verify or re-compute any of the information contained therein. The
Certificate Administrator shall deliver a copy of each Servicer's Certificate to
the Trustee.

                                      ARTICLE V

                       PAYMENTS AND STATEMENTS TO CERTIFICATEHOLDERS;
                              REMIC ADMINISTRATION

     Section 5.01      Distributions. On each Distribution Date, based solely on
the information in each Servicer's  Certificate,  the Certificate  Administrator
shall  distribute out of the Upper-Tier  Certificate  Account or the Certificate
Account,  as  applicable  (to the extent funds are available  therein),  to each
Certificateholder  of record on the related  Record Date (other than as provided
in Section  10.01  respecting  the final  distribution)  by wire transfer to the
account  at a bank or  other  depository  institution  having  appropriate  wire
transfer  facilities  specified  in  writing  by such  Certificateholder  to the
Certificate Administrator or, if no such prior written wire transfer instruction
has been  provided to the  Certificate  Administrator,  by check  mailed to such
Certificateholder  entitled to receive a distribution on such  Distribution Date
at the address appearing in the Certificate  Register, or by such other means of
payment as such Certificateholder and the Certificate  Administrator shall agree
upon, such  Certificateholder's  Percentage  Interest in the amount to which the
related Class of  Certificates is entitled in accordance with the priorities set
forth below in Section 5.02.

            None of the Holders of any Class of Certificates, the Depositor, the
Servicers, the Certificate Administrator or the Trustee shall in any way be
responsible or liable to Holders of any Class of Certificates in respect of
amounts properly previously distributed on any such Class.

     Section 5.02      Priorities of Distributions.

     (a) On each Distribution Date, based solely on the information contained in
each Servicer's Certificate,  the Certificate  Administrator shall withdraw from
the  Certificate  Account (to the extent  funds are  available  therein) (1) the
amounts payable to the  Certificate  Administrator  and the Trustee  pursuant to
Section  3.11(b)(i)  and the amounts  payable to the  Certificate  Administrator
pursuant  to  Section  3.11(b)(ii)  and shall pay such  funds to itself  and the
Trustee,  as  applicable,  and (2) the Pool  Distribution  Amount  for each Loan
Group, in an amount as specified in the related Servicer's Certificate and shall
apply such  funds,  first,  to  distributions  in respect of the  Uncertificated
Lower-Tier Regular Interests for deposit in the Upper-Tier  Certificate Account,
as specified in this Section  5.02(a) and then from the  Upper-Tier  Certificate
Account to distributions on the Certificates, paying priorities (i) through (ii)
to each Group from the applicable Pool Distribution  Amount and priorities (iii)
and (iv) from the remaining combined Pool Distribution Amounts, in the following
order of priority  and to the extent of such funds:

          (i) to each Class of Senior Certificates of such Loan Group, an amount
     allocable to interest  equal to the Interest  Distribution  Amount for such
     Class and any shortfall being allocated among such Classes in proportion to
     the  amount  of the  Interest  Distribution  Amount  that  would  have been
     distributed in the absence of such shortfall;

          (ii) to the Senior  Certificates of a Group, in an aggregate amount up
     to  the  Senior  Principal   Distribution   Amount  for  such  Group,  such
     distribution  to be allocated among such Classes in accordance with Section
     5.02(b);

          (iii) to each Class of Subordinate Certificates,  subject to paragraph
     (d) below, in the following order of priority:

               (A) to  the  Class  B-1  Certificates,  an  amount  allocable  to
          interest equal to the Interest  Distribution Amount for such Class for
          such Distribution Date;

               (B) to  the  Class  B-1  Certificates,  an  amount  allocable  to
          principal equal to its Pro Rata Share for such Distribution Date until
          the Class Certificate Balance thereof has been reduced to zero;

               (C) to  the  Class  B-2  Certificates,  an  amount  allocable  to
          interest equal to the Interest  Distribution Amount for such Class for
          such Distribution Date;

               (D) to  the  Class  B-2  Certificates,  an  amount  allocable  to
          principal equal to its Pro Rata Share for such Distribution Date until
          the Class Certificate Balance thereof has been reduced to zero;

               (E) to  the  Class  B-3  Certificates,  an  amount  allocable  to
          interest equal to the Interest  Distribution Amount for such Class for
          such Distribution Date;

               (F) to  the  Class  B-3  Certificates,  an  amount  allocable  to
          principal equal to its Pro Rata Share for such Distribution Date until
          the Class Certificate Balance thereof has been reduced to zero;

               (G) to  the  Class  B-4  Certificates,  an  amount  allocable  to
          interest equal to the Interest  Distribution Amount for such Class for
          such Distribution Date;

               (H) to  the  Class  B-4  Certificates,  an  amount  allocable  to
          principal equal to its Pro Rata Share for such Distribution Date until
          the Class Certificate Balance thereof has been reduced to zero;

               (I) to  the  Class  B-5  Certificates,  an  amount  allocable  to
          interest equal to the Interest  Distribution Amount for such Class for
          such Distribution Date;

               (J) to  the  Class  B-5  Certificates,  an  amount  allocable  to
          principal equal to its Pro Rata Share for such Distribution Date until
          the Class Certificate Balance thereof has been reduced to zero;

               (K) to  the  Class  B-6  Certificates,  an  amount  allocable  to
          interest equal to the Interest  Distribution Amount for such Class for
          such Distribution Date; and

               (L) to  the  Class  B-6  Certificates,  an  amount  allocable  to
          principal equal to its Pro Rata Share for such Distribution Date until
          the Class Certificate Balance thereof has been reduced to zero; and

          (iv) to the  Holder  of the  Class  1-A-R  Certificates,  any  amounts
     remaining in the Upper-Tier Certificate Account.

            No Class of Certificates will be entitled to any distributions with
respect to the amount payable pursuant to clause (ii) of the definition of
"Interest Distribution Amount" after its Class Certificate Balance has been
reduced to zero.

            All distributions in respect of the Interest Distribution Amount for
a Class will be applied first with respect to the amount payable pursuant to
clause (i) of the definition of "Interest Distribution Amount," and second with
respect to the amount payable pursuant to clause (ii) of such definition.

      Distributions on the Uncertificated Lower-Tier Regular Interests. On each
Distribution Date the Trustee shall be deemed to distribute to itself, as the
holder of the Uncertificated Lower-Tier Regular Interests, the Lower-Tier
Distribution Amount in the amounts and with the priorities set forth in the
definition thereof.

      Realized Losses shall be allocated among the Uncertificated Lower-Tier
Regular Interests as specified in the definition of Lower-Tier Realized Losses.

      Subsequent Recoveries shall be applied to the Uncertificated Lower-Tier
Regular Interests in a manner analogous to the application of Realized Losses of
the Uncertificated Lower-Tier Regular Interests.

      For federal income tax purposes, the Pass-Through Rate for the Class B-1,
Class B-2, Class B-3, Class B-4, Class B-5 and Class B-6 Certificates for any
Distribution Date shall be expressed as a per annum rate equal to the weighted
average of the Uncertificated Pass-Through Rates for Uncertificated Lower-Tier
Regular Interests Y-1, Y-2, Y-3 and Y-4, weighted, for each of the foregoing
determinations, on the basis of the respective Uncertificated Principal Balance
of each such Uncertificated Lower-Tier Regular Interest (computed to eight
decimal places), immediately prior to such Distribution Date.

     (b) (i) With respect to the Class A Certificates of Loan Group 1:

            On each Distribution Date prior to the Senior Credit Support
Depletion Date, the amount distributable to the Related Group for Loan Group 1
pursuant to Section 5.02(a)(ii) for such Distribution Date, will be distributed
based solely on the information contained in each Servicer's Certificate in the
following order of priority:

            first, to the Class 1-A-R Certificates in respect of Component I
thereof until its Class Certificate Balance has been reduced to zero;

            second, to the Class 1-A-1 Certificates until its Class Certificate
Balance has been reduced to zero.

            (ii)  With respect to the Class A Certificates of Loan Group 2:

            On each Distribution Date prior to the Senior Credit Support
Depletion Date, the amount distributable to the Related Group for Loan Group 2
pursuant to Section 5.02(a)(ii) for such Distribution Date, will be distributed
to the Class 2-A-1 Certificates and Class 2-A-2 Certificates, pro rata, until
their Class Certificate Balances have been reduced to zero.

            (iii) With respect to the Class A Certificates of Loan Group 3:

            On each Distribution Date prior to the Senior Credit Support
Depletion Date, the amount distributable to the Related Group for Loan Group 3
pursuant to Section 5.02(a)(ii) for such Distribution Date, will be distributed
to the Class 3-A-1 Certificates and Class 3-A-2 Certificates, pro rata, until
their Class Certificate Balances have been reduced to zero.

            (iv)  With respect to the Class A Certificates of Loan Group 4:

            On each Distribution Date prior to the Senior Credit Support
Depletion Date, the amount distributable to the Related Group for Loan Group 4
pursuant to Section 5.02(a)(ii) for such Distribution Date, will be distributed
to the Class 4-A-1 Certificates and Class 4-A-2 Certificates, pro rata, until
their Class Certificate Balances have been reduced to zero.

            (v)   Notwithstanding the foregoing, on each Distribution Date prior
to the Senior Credit Support Depletion Date but on or after the date on which
the aggregate Class Certificate Balance of the Class A Certificates of a Group
have been reduced to zero, amounts otherwise distributable from the Unscheduled
Principal Amounts for the Related Loan Group on the Subordinate Certificates
will be paid as principal to the remaining classes of Class A Certificates in
accordance with the priorities set forth for the applicable Group in (i), (ii),
(iii) or (iv) above, provided that on such Distribution Date (a) the Aggregate
Subordinate Percentage for such Distribution Date is less than twice the initial
Aggregate Subordinate Percentage or (b) the outstanding principal balance of all
Mortgage Loans (including, for this purpose, any Mortgage Loans in foreclosure
or any REO Property and any Mortgage Loan for which the mortgagor has filed for
bankruptcy) delinquent 60 days or more (averaged over the preceding six-month
period), as a percentage of the aggregate Class Certificate Balance of the
Subordinate Certificates, is greater than or equal to 50%. If the Class A
Certificates of two or more Groups remain outstanding, the distributions
described above will be made to the Class A Certificates of such Groups, pro
rata, in proportion to the aggregate Class Certificate Balance of the Class A
Certificates of each such Group. In addition, if on any Distribution Date the
aggregate Class Certificate Balance of the Class A Certificates of a Group is
greater than the Adjusted Pool Amount of the related Loan Group (any such Group,
the "Undercollateralized Group" and any such excess, the "Undercollateralized
Amount"), all amounts otherwise distributable as principal on the Subordinate
Certificates pursuant to 5.02(a)(iii)(L), (J), (H), (F), (D) and (B), in that
order, will be paid as principal to the Class A Certificates of the
Undercollateralized Group in accordance with the priorities set forth for the
applicable Group above under (i), (ii), (iii) or (iv) until the aggregate Class
Certificate Balance of the Class A Certificates of the Undercollateralized Group
equals the Adjusted Pool Amount of the related Loan Group. The amount of any
Class Unpaid Interest Shortfalls with respect to the Undercollateralized Group
(including any Class Unpaid Interest Shortfalls for such Distribution Date) will
be paid to the Undercollateralized Group prior to the payment of any
Undercollateralized Amount from amounts otherwise distributable as principal on
the Subordinate Certificates pursuant to Section 5.02(a)(iii)(L), (J), (H), (F),
(D) and (B), in that order: such amount will be paid to such Undercollateralized
Group in accordance with the priorities set forth in Section 5.02(a)(i) up to
their Interest Distribution Amounts for such Distribution Date. If two or more
Groups are Undercollateralized Groups, the distributions described above will be
made, pro rata, in proportion to the amount by which the aggregate Class
Certificate Balance of the Class A Certificates of each such Group exceeds the
Adjusted Pool Amount of the related Loan Group.

            On each Distribution Date on or after the Senior Credit Support
Depletion Date, notwithstanding the allocation and priority set forth above, the
portion of the Pool Distribution Amount with respect to a Loan Group available
to be distributed as principal of the Class A Certificates of the Related Group
shall be distributed concurrently, as principal, on such Classes, pro rata, on
the basis of their respective Class Certificate Balances, until the Class
Certificate Balances thereof are reduced to zero.

     (c) On each Distribution Date, Accrued Certificate  Interest for each Class
of Certificates for such  Distribution Date shall be reduced by such Class's pro
rata  share,  based  on such  Class's  Interest  Distribution  Amount  for  such
Distribution  Date,  without  taking into  account the  allocation  made by this
Section 5.02(c), of (A) Non-Supported  Interest Shortfalls,  and (B) each Relief
Act Reduction  incurred  during the calendar  month  preceding the month of such
Distribution  Date.  In  addition,  on each  Distribution  Date on and after the
Senior Credit Support  Depletion  Date,  Accrued  Certificate  Interest for each
Class of Certificates  relating to a Loan Group for such  Distribution Date also
shall be reduced by such Class's pro rata share,  based on such Class's Interest
Distribution  Amount for such Distribution Date, without taking into account the
allocation made by this Section 5.02(c), of any Realized Loss on a Mortgage Loan
in the Related Loan Group allocable to interest.

     (d)  Notwithstanding  the  priority  and  allocation  contained  in Section
5.02(a)(iii),  if with respect to any Class of Subordinate  Certificates  on any
Distribution  Date,  (i)  the  aggregate  of  the  Class  Certificate   Balances
immediately  prior  to such  Distribution  Date of all  Classes  of  Subordinate
Certificates  which have a higher  numerical Class  designation than such Class,
divided by (ii) the aggregate Pool Stated Principal  Balance for all Loan Groups
immediately prior to such Distribution Date (the "Fractional  Interest") is less
than the Original Fractional  Interest for such Class, no Unscheduled  Principal
Payments  will be made to any  Classes  junior to such  Class  (the  "Restricted
Classes") and the Class Certificate  Balances of the Restricted Classes will not
be used in determining the Pro Rata Share for the Subordinate  Certificates that
are not Restricted Classes. Any funds remaining will be distributed in the order
provided in Section 5.02(a)(iii).

     Section 5.03 Allocation of Losses.

     (a) On or prior to each Determination  Date, each Servicer shall inform the
Certificate  Administrator  in writing  with  respect to each  Mortgage  Loan it
services:  (1) whether any  Realized  Loss is a  Deficient  Valuation  or a Debt
Service Reduction,  (2) of the amount of such loss or Deficient Valuation, or of
the terms of such Debt Service Reduction and (3) of the total amount of Realized
Losses. Based on such information, the Certificate Administrator shall determine
and  allocate  the total  amount of Realized  Losses with respect to the related
Distribution  Date.  Realized Losses shall be allocated to the Certificates by a
reduction in the Class Certificate  Balances of the designated  Classes pursuant
to Section 5.03(b) below.

     (b) The Class Certificate Balance of the Class of Subordinate  Certificates
then outstanding with the highest  numerical Class  designation shall be reduced
on each  Distribution  Date by the  amount,  if any,  necessary  such  that  the
aggregate  of the Class  Certificate  Balances  of all  outstanding  Classes  of
Certificates  (after  giving  effect  to  the  amount  to  be  distributed  as a
distribution  of  principal  and  the  allocation  of  Realized  Losses  on such
Distribution  Date)  equals  the  sum of the  Adjusted  Pool  Amounts  for  such
Distribution Date.

            After the Senior Credit Support Depletion Date, the Class
Certificate Balances of the Senior Certificates of the Related Loan Group in the
aggregate shall be reduced on each Distribution Date by the amount, if any, by
which the aggregate of the Class Certificate Balances of all outstanding Senior
Certificates of such Related Loan Group (after giving effect to the amount to be
distributed as a distribution of principal and the allocation of Realized Losses
on the Mortgage Loans in the Related Loan Group on such Distribution Date)
exceeds the Adjusted Pool Amount for such Loan Group and such Distribution Date.

            Any such reduction shall be allocated among the Classes of Senior
Certificates of the Related Group pro rata based on the Class Certificate
Balances immediately prior to such Distribution Date.

     (c) Any Realized Loss allocated to a Class of Certificates or any reduction
in the Class Certificate Balance of a Class of Certificates  pursuant to Section
5.03(b) above shall be allocated  among the  Certificates of such Class pro rata
in proportion to their respective Percentage Interests.

     (d) The  calculation  of the amount to be  distributed  as principal to any
Class of  Certificates  with  respect to a  Distribution  Date (the  "Calculated
Principal  Distribution")  shall be made prior to the allocation of any Realized
Losses  for  such  Distribution  Date;  provided,   however,   that  the  actual
distribution  of  principal  to  the  Classes  of  Certificates  shall  be  made
subsequent to the allocation of Realized Losses for such  Distribution  Date. In
the event that after the allocation of Realized Losses for a Distribution  Date,
the Calculated Principal  Distribution for a Class of Subordinated  Certificates
is greater than the Class Certificate Balance of such Class, the excess shall be
distributed  pro rata to the Classes of Subordinate  Certificates  in accordance
with their remaining Class Certificate Balances.

     (e) After the Senior Credit  Support  Depletion  Date, on any  Distribution
Date on which the Class 2-A-2 Loss  Allocation  Amount is greater than zero, the
Class Certificate Balance of the Class 2-A-2 Certificates will be reduced by the
Class 2-A-2 Loss Allocation  Amount and,  notwithstanding  Section 5.03(b),  the
Class Certificate Balance of the Class 2-A-1 Certificates will not be reduced by
the Class  2-A-2  Loss  Allocation  Amount.  After  the  Senior  Credit  Support
Depletion  Date,  on any  Distribution  Date  on  which  the  Class  3-A-2  Loss
Allocation  Amount is greater than zero,  the Class  Certificate  Balance of the
Class  3-A-2  Certificates  will be reduced by the Class  3-A-2 Loss  Allocation
Amount and,  notwithstanding  Section 5.03(b),  the Class Certificate Balance of
the  Class  3-A-1  Certificates  will not be  reduced  by the Class  3-A-2  Loss
Allocation  Amount.  After the Senior  Credit  Support  Depletion  Date,  on any
Distribution  Date on which the Class  4-A-2 Loss  Allocation  Amount is greater
than zero, the Class Certificate Balance of the Class 4-A-2 Certificates will be
reduced by the Class 4-A-2 Loss Allocation Amount and,  notwithstanding  Section
5.03(b),  the Class Certificate Balance of the Class 4-A-1 Certificates will not
be reduced by the Class 4-A-2 Loss Allocation Amount.

     (f) If, after taking into account any Subsequent Recoveries,  the amount of
a Realized Loss is reduced,  the amount of such  Subsequent  Recoveries  will be
applied to increase the Class  Certificate  Balance of the Class of Certificates
with the highest payment  priority to which Realized Losses have been allocated,
but not by more than the amount of Realized Losses previously  allocated to that
Class of Certificates pursuant to this Section 5.03. The amount of any remaining
Subsequent  Recoveries  will be  applied  to  sequentially  increase  the  Class
Certificate   Balance  of  the   Certificates,   beginning  with  the  Class  of
Certificates  with the next highest payment  priority,  up to the amount of such
Realized  Losses  previously  allocated to such Class or Classes of Certificates
pursuant to this Section 5.03. Holders of such Certificates will not be entitled
to any payments in respect of current  interest on the amount of such  increases
for any Interest Accrual Period  preceding the  Distribution  Date on which such
increase  occurs.  Any such increases shall be applied to the Class  Certificate
Balance of each  Certificate  of such Class in  accordance  with its  respective
Fractional Interest.

     (g)  Notwithstanding  any other  provision of this Section  5.03,  no Class
Certificate  Balance of a Class will be increased on any Distribution  Date such
that the Class  Certificate  Balance of such Class  exceeds  its  Initial  Class
Certificate Balance less all distributions of principal  previously  distributed
in respect of such Class on prior Distribution Dates.

     Section 5.04 Statements to Certificateholders.

     (a) Prior to the  Distribution  Date in each month,  based  solely upon the
information  provided  to  the  Certificate  Administrator  on  each  Servicer's
Certificate delivered to the Certificate Administrator pursuant to Section 4.01,
the Certificate  Administrator  shall determine the following  information  with
respect to such Distribution Date:

          (i) for each Loan Group, the amount allocable to principal, separately
     identifying  the  aggregate   amount  of  any  Principal   Prepayments  and
     Liquidation Proceeds included therein;

          (ii) for each Loan Group, the amount allocable to interest,  any Class
     Unpaid Interest  Shortfall  included in such distribution and any remaining
     Class Unpaid Interest Shortfall after giving effect to such distribution;

          (iii) if the distribution to the Holders of such Class of Certificates
     is less than the full amount that would be distributable to such Holders if
     there were sufficient funds available therefor, the amount of the shortfall
     and the allocation thereof as between principal and interest;

          (iv) the Class Certificate Balance of each Class of Certificates after
     giving effect to the distribution of principal on such Distribution Date;

          (v) for each Loan  Group,  the Pool Stated  Principal  Balance for the
     following Distribution Date;

          (vi)  for  each  Group,  the  Senior  Percentage  and the  Subordinate
     Percentage  for  the  following  Distribution  Date  and the  Total  Senior
     Percentage   and  Aggregate   Subordinate   Percentage  for  the  following
     Distribution Date;

          (vii) the  amount of the  Servicing  Fee paid to or  retained  by each
     Servicer with respect to each Loan Group and such Distribution Date;

          (viii) the Pass-Through  Rate for each such Class of Certificates with
     respect to such Distribution Date;

          (ix) for each Loan Group, the amount of Periodic  Advances included in
     the  distribution  on such  Distribution  Date and the aggregate  amount of
     Periodic  Advances  outstanding  as  of  the  close  of  business  on  such
     Distribution Date;

          (x) for each Loan Group, the number and aggregate principal amounts of
     Mortgage Loans (A) delinquent  (exclusive of Mortgage Loans in foreclosure)
     (1) 1 to 30  days  (2) 31 to 60 days  (3) 61 to 90 days  and (4) 91 or more
     days and (B) in foreclosure, as of the close of business on the last day of
     the calendar month preceding such Distribution Date;

          (xi) for each Loan  Group,  with  respect  to any  Mortgage  Loan that
     became an REO Property during the preceding calendar month, the loan number
     and  Stated  Principal  Balance  of such  Mortgage  Loan as of the close of
     business on the Determination Date preceding such Distribution Date and the
     date of acquisition thereof;

          (xii) for each Loan Group,  the total number and principal  balance of
     any REO  Properties  (and market  value,  if  available) as of the close of
     business on the Determination Date preceding such Distribution Date;

          (xiii) for each Loan Group, the Senior  Prepayment  Percentage and the
     Subordinate Prepayment Percentage for the following Distribution Date;

          (xiv) for each Loan Group,  the  aggregate  amount of Realized  Losses
     incurred during the preceding calendar month; and

          (xv) for each Loan Group, the amount of any Subsequent Recoveries.

     (b) No later than each  Distribution  Date, the Certificate  Administrator,
based upon information supplied to it in each Servicer's Certificate, shall make
available on its website at  www.firstlinkabs.com a statement (the "Distribution
Date Statement")  setting forth the information set forth in Section 5.04(a) and
shall provide a copy of such  Distribution  Date Statement to the Trustee.  Upon
written request,  the Certificate  Administrator  shall mail a paper copy of the
Distribution   Date   Statement   to  any   Person   that  is   unable   to  use
www.firstlinkabs.com.  The  Certificate  Administrator  shall  have the right to
change the way  statements are  distributed  in order to make such  distribution
more  convenient  and/or  accessible  to the  Certificateholders  and the Rating
Agencies  and the  Certificate  Administrator  shall mail  timely  notice to all
regarding such changes.

            In the case of information furnished pursuant to clauses (i), (ii)
and (ix) of Section 5.04(a), the amounts shall be expressed as a dollar amount
per Certificate with a $1,000 denomination.

            On each Distribution Date, the Certificate Administrator shall
prepare and furnish to each Financial Market Service, in electronic or such
other format and media mutually agreed upon by the Certificate Administrator,
the Financial Market Service and the Depositor, the information contained in the
statement described in Section 5.04(a) for such Distribution Date.

            Within a reasonable period of time after the end of each calendar
year, the Certificate Administrator shall furnish to each Person who at any time
during the calendar year was the Holder of a Certificate, if requested in
writing by such Person, a statement containing the information set forth in
clauses (i), (ii) and (vii) of Section 5.04(a), in each case aggregated for such
calendar year or applicable portion thereof during which such Person was a
Certificateholder. Such obligation of the Certificate Administrator shall be
deemed to have been satisfied to the extent that substantially comparable
information shall be provided by the Certificate Administrator pursuant to any
requirements of the Code as from time to time in force.

            The Certificate Administrator shall deliver to the Holders of
Certificates and the Trustee any reports or information the Certificate
Administrator is required by this Agreement or the Code, Treasury Regulations or
REMIC Provisions to deliver to the Holders of Certificates, and the Certificate
Administrator shall prepare and provide to the Certificateholders and the
Trustee (by mail, telephone, or publication as may be permitted by applicable
Treasury Regulations) such other reasonable information as the Certificate
Administrator deems necessary or appropriate or is required by the Code,
Treasury Regulations, and the REMIC Provisions including, but not limited to,
(i) information to be reported to the Holders of the Residual Certificates for
quarterly notices on Schedule Q (Form 1066) (which information shall be
forwarded to the Holders of the Residual Certificates by the Certificate
Administrator), (ii) information to be provided to the Holders of Certificates
with respect to amounts which should be included as interest and original issue
discount in such Holders' gross income and (iii) information to be provided to
all Holders of Certificates setting forth the percentage of each REMIC's assets,
determined in accordance with Treasury Regulations using a convention, not
inconsistent with Treasury Regulations, selected by the Certificate
Administrator in its absolute discretion, that constitute real estate assets
under Section 856 of the Code, and assets described in Section 7701(a)(19)(C) of
the Code; provided, however, that in setting forth the percentage of such assets
of each REMIC, nothing contained in this Agreement, including without limitation
Section 7.03 hereof, shall be interpreted to require the Certificate
Administrator periodically to appraise the fair market values of the assets of
the Trust Estate or to indemnify the Trust Estate, any Certificateholders, or
any other Person from any adverse federal, state or local tax consequences
associated with a change subsequently required to be made in the Depositor's
initial good faith determinations of such fair market values (if subsequent
determinations are required pursuant to the REMIC Provisions) made from time to
time.

     Section 5.05      Tax Returns and Reports to Certificateholders.

     (a) For federal income tax purposes,  each REMIC shall have a calendar year
taxable year and shall maintain its books on the accrual method of accounting.

     (b)  Solely  with  respect  to  Definitive  Certificates,  the  Certificate
Administrator  shall  prepare or cause to be prepared,  shall cause to be timely
signed by the  Trustee,  and shall file or cause to be filed  with the  Internal
Revenue  Service  and  applicable  state or local  tax  authorities  income  tax
information  returns for each taxable year with respect to each REMIC containing
such  information at the times and in the manner as may be required by the Code,
the Treasury Regulations or state or local tax laws, regulations,  or rules, and
shall furnish or cause to be furnished to each REMIC and the  Certificateholders
the schedules, statements or information at such times and in such manner as may
be  required  thereby.  Within  30 days of the  Closing  Date,  the  Certificate
Administrator  shall  furnish or cause to be furnished  to the Internal  Revenue
Service,  on Form  8811 or as  otherwise  required  by the Code or the  Treasury
Regulations,  the name,  title,  address and telephone number of the person that
Holders of the  Certificates may contact for tax information  relating  thereto,
together with such additional information at the time or times and in the manner
required by the Code or the Treasury Regulations.  Such federal, state, or local
income tax or information  returns shall be signed by the Trustee, or such other
Person  as may be  required  to sign such  returns  by the  Code,  the  Treasury
Regulations or state or local tax laws, regulations, or rules.

     (c) In the first federal  income tax return of each of the  Upper-Tier  and
the Lower-Tier  REMIC for its short taxable year ending December 31, 2005, REMIC
status shall be elected for such taxable year and all succeeding taxable years.

     (d) The Certificate  Administrator  will maintain or cause to be maintained
such  records  relating  to each  REMIC,  including  but not  limited to records
relating to the income,  expenses,  assets and  liabilities of the Trust Estate,
and the  initial  fair  market  value and  adjusted  basis of the  Trust  Estate
property and assets  determined at such intervals as may be required by the Code
or the  Treasury  Regulations,  as may be  necessary  to prepare  the  foregoing
returns, schedules, statements or information.

     Section 5.06......Tax Matters Person. The Tax Matters Person shall have the
same duties with respect to each REMIC as those of a "tax matters partner" under
Subchapter C of Chapter 63 of Subtitle F of the Code. The Seller, as Holder of a
Percentage Interest in the Class 1-A-R Certificates, is hereby designated as the
Tax Matters Person for the Upper-Tier  REMIC and the  Lower-Tier  REMIC.  By its
acceptance  of a  Class  1-A-R  Certificate,  each  Holder  thereof  irrevocably
appoints  the  Certificate  Administrator  to act as agent  for the Tax  Matters
Person  for the  Upper-Tier  REMIC and the  Lower-Tier  REMIC,  except  that the
Certificate Administrator shall not be required to pay any taxes.

     Section  5.07......Rights  of the Tax  Matters  Person  in  Respect  of the
Certificate  Administrator.  The Certificate  Administrator shall afford the Tax
Matters Person,  upon reasonable notice during normal business hours,  access to
all records maintained by the Certificate Administrator in respect of its duties
hereunder and access to officers of the  Certificate  Administrator  responsible
for performing such duties. The Certificate  Administrator  shall make available
to the Tax  Matters  Person  such books,  documents  or records  relating to the
Certificate  Administrator's  services hereunder as the Tax Matters Person shall
reasonably request.  The Tax Matters Person shall not have any responsibility or
liability for any action or failure to act by the Certificate  Administrator and
is not obligated to supervise the performance of the  Certificate  Administrator
under this Agreement or otherwise.

Section 5.08......REMIC Related Covenants. For as long as the Trust shall exist,
the Trustee, the Certificate Administrator, the Depositor and each Servicer
shall act in accordance herewith to assure continuing treatment of the
Upper-Tier REMIC and the Lower-Tier REMIC as REMICs and avoid the imposition of
tax on either REMIC. In particular:

     (a)  The  Trustee  shall  not  create,  or  permit  the  creation  of,  any
"interests" in either REMIC within the meaning of Code Section  860D(a)(2) other
than  the  interests  represented  by the  Regular  Certificates,  the  Residual
Certificates and the Uncertificated Lower-Tier Regular Interests.

     (b) Except as otherwise  provided in the Code,  (i) the  Depositor and each
Servicer shall not  contribute to the Trust Estate and the Custodian,  on behalf
of the Trustee,  and the Trustee shall not accept property unless  substantially
all of the property held in each REMIC constitutes either "qualified  mortgages"
or  "permitted  investments"  as defined in Code  Sections  860G(a)(3)  and (5),
respectively,  and (ii) no property shall be contributed to each REMIC after the
start-up day unless such contribution  would not subject the Trust Estate to the
100% tax on contributions to a REMIC after the start-up day of the REMIC imposed
by  Code  Section   860G(d).

     (c) Neither the Trustee nor the Certificate  Administrator  shall accept on
behalf of either  REMIC any fee or other  compensation  for services and none of
the  Certificate  Administrator,  the Trustee or any  Servicer  shall  knowingly
accept,  on behalf of the Trust  Estate any income from assets  other than those
permitted to be held by a REMIC.

     (d) Neither the Servicers,  the Trustee, nor the Certificate  Administrator
shall sell or permit the sale of all or any portion of the Mortgage Loans (other
than in accordance  with Sections  2.02,  2.04 or 3.14(b)),  unless such sale is
pursuant to a "qualified liquidation" of the applicable REMIC as defined in Code
Section  860F(a)(4)(A)  and in  accordance  with Article X.

     (e) The Certificate  Administrator shall maintain books with respect to the
Trust and each REMIC on a calendar year taxable year and on an accrual basis.

            None of the Servicers, the Certificate Administrator or the Trustee
shall engage in a "prohibited transaction" (as defined in Code Section
860F(a)(2)), except that, with the prior written consent of the Servicer and the
Depositor, the Trustee or the Certificate Administrator may engage in the
activities otherwise prohibited by the foregoing paragraphs (b), (c) and (d);
provided that the Servicers shall have delivered to the Trustee and the
Certificate Administrator an Opinion of Counsel to the effect that such
transaction will not result in the imposition of a tax on either the Upper-Tier
REMIC or the Lower-Tier REMIC and will not disqualify either REMIC from
treatment as a REMIC; and, provided further, that the Servicers shall have
demonstrated to the satisfaction of the Trustee and the Certificate
Administrator that such action will not adversely affect the rights of the
Holders of the Certificates, the Certificate Administrator, or the Trustee and
that such action will not adversely impact the rating of the Certificates.

                                   ARTICLE VI

                                THE CERTIFICATES

     Section 6.01......The Certificates.  The Classes of Senior Certificates and
the Subordinate  Certificates  shall be  substantially in the forms set forth in
Exhibits A-1-A-1, A-1-A-R, A-2-A-1, A-2-A-2, A-3-A-1, A-3-A-2, A-4-A-1, A-4-A-2,
B-1, B-2, B-3, B-4, B-5, B-6 and C (reverse of all  Certificates)  and shall, on
original  issue,  be  executed by the  Trustee  and shall be  authenticated  and
delivered by the Trustee to or upon the order of the  Depositor  upon receipt by
the Custodian,  on behalf of the Trustee,  of the documents specified in Section
2.01. The Senior Certificates (other than the Class 1-A-R Certificates) shall be
available  to investors in interests  representing  minimum  dollar  Certificate
Balances  of  $10,000  and  integral  multiples  of $1 in  excess  thereof.  The
Subordinate   Certificates   shall  be   available  to  investors  in  interests
representing  minimum dollar Certificate Balances of $10,000 and integral dollar
multiples of $1 in excess thereof  (except one  Certificate of such Class may be
issued with a different Certificate Balance). The Class 1-A-R Certificates shall
be in a minimum  denomination of $100. The Senior  Certificates  (other than the
Class  1-A-R   Certificates)  and  the  Class  B-1,  Class  B-2  and  Class  B-3
Certificates shall initially be issued in book-entry form through the Depository
and  delivered  to the  Depository  or its  designee,  and all other  Classes of
Certificates shall initially be issued in definitive, fully-registered form.

            The Certificates shall be executed by manual or facsimile signature
on behalf of the Trustee by an authorized officer or signatory. Certificates
bearing the manual or facsimile signatures of individuals who were, at the time
when such signatures were affixed, authorized to sign on behalf of the Trustee
shall bind the Trustee, notwithstanding that such individuals or any of them
have ceased to be so authorized prior to the execution and delivery of such
Certificates or did not hold such offices or positions at the date of such
Certificate. No Certificate shall be entitled to any benefit under this
Agreement, or be valid for any purpose, unless such Certificate shall have been
manually countersigned by the Trustee substantially in the form provided for
herein, and such countersignature upon any Certificate shall be conclusive
evidence, and the only evidence, that such Certificate has been duly
authenticated and delivered hereunder. All Certificates shall be dated the date
of their countersignature.

Section 6.02......Registration of Transfer and Exchange of Certificates.

     (a) The  Certificate  Administrator  shall cause to be kept at an office or
agency  in the city in which  the  Corporate  Trust  Office  of the  Certificate
Administrator  is  located a  Certificate  Register  in which,  subject  to such
reasonable regulations as it may prescribe, the Certificate  Administrator shall
provide for the  registration of Certificates  and of transfers and exchanges of
Certificates as herein provided.  The Certificate  Administrator shall initially
serve as Certificate  Registrar for the purpose of registering  Certificates and
transfers and exchanges of Certificates as herein provided.

     (b) At the option of the Certificateholders,  Certificates may be exchanged
for  other  Certificates  of  authorized  denominations  of the same  Class  and
aggregate  Percentage  Interest,  upon  surrender  of  the  Certificates  to  be
exchanged  at any such  office  or  agency.  Whenever  any  Certificates  are so
surrendered  for  exchange,  the Trustee  shall  execute  and the Trustee  shall
authenticate,    countersign   and   deliver   the   Certificates    which   the
Certificateholder  making the exchange is entitled to receive. Every Certificate
presented or surrendered  for transfer or exchange shall 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 its attorney duly
authorized in writing.

     (c)(i)  Except as provided in  paragraph  (c)(iii)  below,  the  Book-Entry
Certificates  shall at all times remain registered in the name of the Depository
or its nominee and at all times: (A) registration of the Certificates may not be
transferred  except to another  Depository;  (B) the  Depository  shall maintain
book-entry  records with respect to the  Certificate  Owners and with respect to
ownership  and  transfers of such  Book-Entry  Certificates;  (C)  ownership and
transfers of  registration  of the Book-Entry  Certificates  on the books of the
Depository shall be governed by applicable rules  established by the Depository;
(D) the  Depository  may  collect  its usual and  customary  fees,  charges  and
expenses  from its  Depository  Participants;  (E) the  Depository  shall be the
representative  of the  Certificate  Owners of the Book-Entry  Certificates  for
purposes of exercising the rights of Holders under this Agreement,  and requests
and  directions  for and  votes of the  Depository  shall  not be  deemed  to be
inconsistent if they are made with respect to different  Certificate Owners; and
(F) the  Certificate  Administrator  may rely and  shall be fully  protected  in
relying  upon  information  furnished  by the  Depository  with  respect  to its
Depository  Participants  and  furnished  by the  Depository  Participants  with
respect to indirect  participating  firms and persons shown on the books of such
indirect  participating firms as direct or indirect Certificate Owners.

          (ii) All transfers by  Certificate  Owners of Book-Entry  Certificates
     shall  be  made  in  accordance  with  the  procedures  established  by the
     Depository  Participant or brokerage  firm  representing  such  Certificate
     Owner.  Each  Depository   Participant   shall  only  transfer   Book-Entry
     Certificates of Certificate  Owners it represents or of brokerage firms for
     which  it  acts  as  agent  in  accordance  with  the  Depository's  normal
     procedures.

          (iii) If (A) (1) the Depositor  advises the Certificate  Administrator
     in writing  that the  Depository  is no longer  willing or able to properly
     discharge  its  responsibilities  as  Depository,  and (2) the  Certificate
     Administrator  or the Depositor is unable to locate a qualified  successor,
     or (B) to the extent  permitted by law, the Depositor at its option advises
     the  Certificate  Administrator  in writing that it elects to terminate the
     book-entry  system through the Depository,  the  Certificate  Administrator
     shall  notify  all  Certificate  Owners,  through  the  Depository,  of the
     occurrence  of  any  such  event  and of the  availability  of  definitive,
     fully-registered    Certificates   (the   "Definitive   Certificates")   to
     Certificate Owners. Upon surrender to the Certificate  Administrator of the
     related  Class  of  Certificates  by  the  Depository,  accompanied  by the
     instructions from the Depository for registration,  the Trustee shall issue
     the  Definitive  Certificates.  None of the Servicers,  the Depositor,  the
     Certificate  Administrator  or the Trustee shall be liable for any delay in
     delivery of such  instruction  and may  conclusively  rely on, and shall be
     protected in relying on, such instructions. The Depositor shall provide the
     Trustee  with an adequate  inventory  of  certificates  to  facilitate  the
     issuance  and  transfer of  Definitive  Certificates.  Upon the issuance of
     Definitive  Certificates,  the Holders of the Definitive Certificates shall
     be recognized as Certificateholders hereunder.

     (d) No transfer of a Private Certificate shall be made unless such transfer
is exempt from the registration  requirements of the 1933 Act and any applicable
state  securities laws or is made in accordance with the 1933 Act and such laws.
In the event of any such transfer,  (i) unless such transfer is made in reliance
on Rule 144A under the 1933 Act, the Certificate  Administrator or the Depositor
may  require a written  Opinion  of  Counsel  (which  may be  in-house  counsel)
acceptable  to  and  in  form  and  substance  reasonably  satisfactory  to  the
Certificate  Administrator  and the  Depositor  that such  transfer  may be made
pursuant to an  exemption,  describing  the  applicable  exemption and the basis
therefor,  from the 1933 Act and such laws or is being made pursuant to the 1933
Act and such  laws,  which  Opinion  of  Counsel  shall not be an expense of the
Certificate   Administrator   or  the   Depositor   and  (ii)  the   Certificate
Administrator shall require a certificate from the Certificateholder desiring to
effect such transfer  substantially  in the form attached  hereto as Exhibit G-1
and  a  certificate  from  such   Certificateholder's   prospective   transferee
substantially  in the form attached  hereto either as Exhibit G-2A or as Exhibit
G-2B,   which   certificates   shall  not  be  an  expense  of  the  Certificate
Administrator or the Depositor;  provided that the foregoing  requirements under
clauses  (i) and (ii)  shall not apply to a  transfer  of a Private  Certificate
between or among the Depositor,  the Seller, the Servicers,  their affiliates or
both. The Depositor shall provide to any Holder of a Private Certificate and any
prospective transferees designated by any such Holder, information regarding the
related  Certificates and the Mortgage Loans and such other information as shall
be  necessary  to  satisfy  the  condition  to  eligibility  set  forth  in Rule
144A(d)(4) for transfer of any such  certificate  without  registration  thereof
under the 1933 Act pursuant to the registration exemption provided by Rule 144A.
The Holder of a Private Certificate  desiring to effect such transfer shall, and
does hereby agree to,  indemnify the Certificate  Administrator,  each Servicer,
the  Trustee and the  Depositor  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.

     (e)  No  transfer  of  an  ERISA  Restricted   Certificate  or  a  Residual
Certificate  shall be made unless the  transferee  delivers  to the  Certificate
Administrator  either (i) a representation  letter in the form of Exhibit H from
the transferee of such Certificate,  which representation letter shall not be an
expense of the  Depositor,  the  Certificate  Administrator,  the Trustee or the
Servicers, or (ii) in the case of any ERISA Restricted Certificate presented for
registration in the name of an employee  benefit plan or arrangement,  including
an individual  retirement  account,  subject to ERISA, the Code, or any federal,
state  or local  law  ("Similar  Law")  which  is  similar  to ERISA or the Code
(collectively,  a "Plan"), or a trustee or custodian of any of the foregoing, an
Opinion of Counsel for the benefit of the Trustee, Servicers and the Certificate
Administrator upon which they may rely that the purchase of the ERISA Restricted
Certificate is  permissible  under local law, will not constitute or result in a
non-exempt prohibited  transaction under Section 406 of ERISA or Section 4975 of
the Code, and will not subject the Certificate Administrator, the Trustee or the
Servicers to any obligation or liability in addition to those undertaken in this
Agreement,  which Opinion of Counsel shall not be an expense of the  Certificate
Administrator,  the  Trustee  or  the  Servicers.  Any  transferee  of an  ERISA
Restricted  Certificate  that does not comply with either  clause (i) or (ii) of
the preceding  sentence  will be deemed to have made one of the  representations
set forth in Exhibit H.  Notwithstanding  anything else to the contrary  herein,
any purported transfer of a Residual Certificate to or on behalf of a Plan shall
be void and of no effect.  Notwithstanding anything else to the contrary herein,
any purported  transfer of an ERISA Restricted  Certificate to or on behalf of a
Plan without the delivery to the Certificate Administrator,  the Trustee and the
Servicers of an Opinion of Counsel satisfactory to the Certificate Administrator
and the Servicers as described above shall be void and of no effect.

            None of the Trustee, the Certificate Administrator, the Servicers or
the Certificate Registrar shall have any liability for transfers of Book-Entry
Certificates made through the book-entry facilities of the Depository or between
or among any Depository Participants or Certificate Owners, made in violation of
applicable restrictions. The Certificate Administrator and the Trustee may rely
and shall be fully protected in relying upon information furnished by the
Depository with respect to its Depository Participants and furnished by the
Depository Participants with respect to indirect participating firms and Persons
shown on the books of such indirect participating firms as direct or indirect
Certificate Owners.

            To the extent permitted under applicable law (including, but not
limited to, ERISA), none of the Depositor, the Certificate Administrator or the
Trustee shall be under any liability to any Person for any registration of
transfer of any ERISA Restricted Certificate that is in fact not permitted by
this Section 6.02 or for making any payments due on such Certificate to the
Holder thereof or taking any other action with respect to such Holder under the
provisions of this Agreement so long as the transfer was registered by the
Certificate Registrar in accordance with the foregoing requirements.

     (f)  Each  Person  who has or who  acquires  any  Ownership  Interest  in a
Residual  Certificate  shall be deemed by the  acceptance or acquisition of such
Ownership Interest to have agreed to be bound by the following  provisions,  and
the  rights of each  Person  acquiring  any  Ownership  Interest  in a  Residual
Certificate are expressly subject to the following provisions:

          (i) Each  Person  holding or  acquiring  any  Ownership  Interest in a
     Residual  Certificate  shall be a Permitted  Transferee  and shall promptly
     notify the Certificate  Administrator  of any change or impending change in
     its status as a Permitted Transferee.

          (ii) No Person  shall  acquire  an  Ownership  Interest  in a Residual
     Certificate  unless  such  Ownership  Interest  is  a  pro  rata  undivided
     interest.

          (iii)  In  connection  with any  proposed  transfer  of any  Ownership
     Interest in a Residual  Certificate,  the proposed transferee shall deliver
     to the Certificate  Administrator and the Depositor,  in form and substance
     satisfactory  to  the  Certificate  Administrator  and  the  Depositor,  an
     affidavit in the form of Exhibit I hereto.

          (iv)  Notwithstanding  the  delivery  of an  affidavit  by a  proposed
     transferee  under  clause  (iii)  above,  if a  Responsible  Officer of the
     Certificate Administrator has actual knowledge that the proposed transferee
     is not a Permitted  Transferee,  no transfer of any Ownership Interest in a
     Residual  Certificate to such proposed  transferee shall be effected by the
     Certificate Administrator.

          (v) No Ownership  Interest in a Residual  Certificate may be purchased
     by or transferred to any Person that is not a U.S. Person,  unless (A) such
     Person holds such Residual  Certificate in connection with the conduct of a
     trade or business  within the United States and  furnishes the  transferor,
     the Depositor and the Certificate  Administrator with an effective Internal
     Revenue  Service Form W-8ECI (or successor  thereto) or (B) the  transferee
     delivers to the transferor, the Depositor and the Certificate Administrator
     an Opinion  of  Counsel  from a  nationally-recognized  tax  counsel to the
     effect that such transfer is in  accordance  with the  requirements  of the
     Code and the regulations promulgated thereunder and that such transfer of a
     Residual  Certificate  will  not be  disregarded  for  federal  income  tax
     purposes.

          (vi) Any attempted or purported  transfer of any Ownership Interest in
     a Residual  Certificate in violation of the provisions of this Section 6.02
     shall be absolutely null and void and shall vest no rights in the purported
     transferee.  If  any  purported  transferee  shall,  in  violation  of  the
     provisions of this Section 6.02, become a Holder of a Residual Certificate,
     then the prior  Holder of such  Residual  Certificate  that is a  Permitted
     Transferee  shall, upon discovery that the registration of transfer of such
     Residual  Certificate  was not in fact  permitted by this Section  6.02, be
     restored  to all  rights  as  Holder  thereof  retroactive  to the  date of
     registration  of transfer of such  Residual  Certificate.  The  Certificate
     Administrator   shall  be  under  no   liability  to  any  Person  for  any
     registration  of  transfer  of a Residual  Certificate  that is in fact not
     permitted by this Section 6.02 or for making any  distributions due on such
     Residual  Certificate to the Holder thereof or taking any other action with
     respect to such Holder under the provisions of the Agreement so long as the
     transfer  was  registered  in  accordance   with  this  Section  6.02.  The
     Certificate  Administrator  and the Depositor  shall be entitled to recover
     from any Holder of a Residual  Certificate that was in fact not a Permitted
     Transferee at the time such  distributions were made all distributions made
     on such Residual  Certificate.  Any such  distributions so recovered by the
     Certificate  Administrator  or  the  Depositor  shall  be  distributed  and
     delivered  by the  Certificate  Administrator  to the prior  Holder of such
     Residual Certificate that is a Permitted Transferee.

          (vii) If any Person  other than a Permitted  Transferee  acquires  any
     Ownership   Interest  in  a  Residual   Certificate  in  violation  of  the
     restrictions  in this Section  6.02,  then the  Certificate  Administrator,
     based on  information  provided to the  Certificate  Administrator  by each
     Servicer,  will provide to the Internal Revenue Service, and to the Persons
     specified in Section 860E(e)(3) and (6) of the Code,  information needed to
     compute the tax imposed under  Section  860E(e) of the Code on transfers of
     residual  interests  to  disqualified  organizations.  The  expenses of the
     Certificate  Administrator under this clause (vii) shall be reimbursable by
     the Trust. (viii) No Ownership Interest in a Residual  Certificate shall be
     acquired by a Plan or any Person acting on behalf of a Plan. (g) [Reserved]
     (h) No service  charge  shall be imposed  for any  transfer  or exchange of
     Certificates  of any  Class,  but 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.
     (i) All  Certificates  surrendered  for  transfer  and  exchange  shall  be
     destroyed  by  the  Certificate  Registrar.

     Section 6.03......Mutilated, Destroyed, Lost or Stolen Certificates. If (a)
any mutilated  Certificate is surrendered  to the  Certificate  Registrar or the
Certificate  Registrar receives evidence to its satisfaction of the destruction,
loss or theft of any Certificate,  and (b) there is delivered to the Certificate
Administrator,  the Trustee,  the Depositor and the  Certificate  Registrar such
security or  indemnity  reasonably  satisfactory  to each,  to save each of them
harmless,   then,   in  the  absence  of  actual   notice  to  the   Certificate
Administrator,  the Trustee or the Certificate  Registrar that such  Certificate
has been acquired by a protected  purchaser,  the Trustee shall authenticate and
deliver,  in exchange for or in lieu of any such mutilated,  destroyed,  lost or
stolen Certificate,  a new Certificate of the same Class and Percentage Interest
but bearing a number not contemporaneously outstanding. Upon the issuance of any
new Certificate  under this Section,  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  expenses  (including the fees
and expenses of the Certificate  Registrar) connected  therewith.  Any duplicate
Certificate  issued  pursuant to this  Section  shall  constitute  complete  and
indefeasible  evidence  of  ownership  in the Trust,  as if  originally  issued,
whether or not the lost,  stolen or destroyed  Certificate shall be found at any
time.

     Section  6.04......Persons  Deemed Owners.  Prior to due  presentation of a
Certificate for  registration  of transfer,  the Depositor,  the Servicers,  the
Certificate Administrator,  the Trustee, the Certificate Registrar and any agent
of the Depositor, the Servicers, the Certificate  Administrator,  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 5.01 and for all other  purposes  whatsoever,
and none of the Depositor,  the Servicers,  the Certificate  Administrator,  the
Trustee, the Certificate Registrar or any agent of the Depositor, the Servicers,
the Certificate Administrator, the Trustee or the Certificate Registrar shall be
affected by notice to the contrary.

                                    ARTICLE VII

                         THE DEPOSITOR AND THE SERVICERS

     Section   7.01      Respective   Liabilities   of  the  Depositor  and  the
Servicers.  The Depositor  and each Servicer  shall each be liable in accordance
herewith only to the extent of the  obligations  specifically  and  respectively
imposed upon and undertaken by the Depositor and each Servicer herein. By way of
illustration  and not limitation,  the Depositor is not liable for the servicing
and administration of the Mortgage Loans, nor is it obligated by Section 8.01 to
assume any  obligations  of either  Servicer  or to appoint a designee to assume
such  obligations,  nor is it liable for any other obligation  hereunder that it
may, but is not obligated to, assume unless it elects to assume such  obligation
in  accordance  herewith.

     Section  7.02      Merger  or Consolidation of the Depositor or a Servicer.
The Depositor  and each  Servicer  will each keep in full effect its  existence,
rights  and  franchises  as a  separate  entity  under  the laws  governing  its
organization, and will each obtain and preserve its qualification to do business
as a foreign  corporation in each jurisdiction in which such qualification is or
shall be necessary to protect the validity and enforceability of this Agreement,
the  Certificates  or any of the  Mortgage  Loans and to perform its  respective
duties under this Agreement.

            Any Person into which the Depositor or either Servicer may be merged
or consolidated, or any corporation resulting from any merger or consolidation
to which the Depositor or such Servicer shall be a party, or any Person
succeeding to the business of the Depositor or such Servicer, shall be the
successor of the Depositor or the applicable Servicer, as the case may be,
hereunder, without the execution or filing of any paper or any further act on
the part of any of the parties hereto, anything herein to the contrary
notwithstanding; provided, however, that the successor or surviving Person to
the applicable Servicer shall be qualified to service mortgage loans on behalf
of FNMA or FHLMC.

     Section  7.03      Limitation on Liability of the Depositor,  the Servicers
and Others; Liability of Servicers.

     (a)  None  of the  Depositor,  either  Servicer  or  any of the  directors,
officers,  employees or agents of the Depositor or of a Servicer  shall be under
any liability to the Trust Estate or the Certificateholders for any action taken
or for  refraining  from the taking of any action in good faith pursuant to this
Agreement,  or for errors in judgment;  provided,  however,  that this provision
shall not protect the  Depositor,  the Servicers or any such Person  against any
breach of warranties or representations made herein or any liability which would
otherwise  be  imposed  by reason  of  willful  misfeasance,  bad faith or gross
negligence in the  performance  of duties or by reason of reckless  disregard of
obligations and duties hereunder. The Depositor, each Servicer and any director,
officer, employee or agent of the Depositor or a Servicer may rely in good faith
on any document of any kind prima facie  properly  executed and submitted by any
Person respecting any matters arising  hereunder.  The Depositor,  each Servicer
and any  director,  officer,  employee or agent of the  Depositor  or a Servicer
shall be  indemnified  by the Trust Estate and held  harmless  against any loss,
liability or expense  incurred in connection  with any legal action  relating to
this Agreement or the  Certificates,  other than any loss,  liability or expense
related to any  specific  Mortgage  Loan or Mortgage  Loans  (except as any such
loss,  liability  or expense  shall be otherwise  reimbursable  pursuant to this
Agreement)  and any loss,  liability  or expense  incurred  by reason of willful
misfeasance,  bad  faith  or  gross  negligence  in the  performance  of  duties
hereunder  or  by  reason  of  reckless  disregard  of  obligations  and  duties
hereunder.  None  of the  Depositor  or  either  Servicer  shall  be  under  any
obligation  to appear  in,  prosecute  or defend any legal  action  which is not
incidental  to its  respective  duties  under  this  Agreement  and which in its
opinion may involve it in any expense or liability;  provided, however, that the
Depositor or a Servicer may in its discretion undertake any such action which it
may deem  necessary or desirable in respect to this Agreement and the rights and
duties  of the  parties  hereto  and  the  interests  of the  Certificateholders
hereunder.  In such event,  the legal  expenses and costs of such action and any
liability  resulting  therefrom shall be expenses,  costs and liabilities of the
Trust  Estate,  and the  Depositor  and each  Servicer  shall be  entitled to be
reimbursed therefor out of amounts attributable to the Mortgage Loans on deposit
in the related  Servicer  Custodial  Account as provided  by Section  3.11.

     (b) Subject to clause (a) above, each Servicer (except the Trustee if it is
required to succeed the Servicer  hereunder)  indemnifies and holds the Trustee,
the Certificate Administrator,  the Depositor and the Trust harmless against any
and all claims, losses, penalties, fines, forfeitures, reasonable legal fees and
related  costs,  judgments,  and any other  costs,  fees and  expenses  that the
Trustee, the Certificate Administrator,  the Depositor and the Trust may sustain
in any way  related to the  failure of such  Servicer  to perform its duties and
service the Mortgage  Loans in  compliance  with this  Agreement.  Each Servicer
shall  immediately  notify the Trustee,  the Certificate  Administrator  and the
Depositor if a claim is made that may result in such claims, losses,  penalties,
fines, forfeitures,  legal fees or related costs, judgments, or any other costs,
fees and  expenses,  and such  Servicer  shall  assume  (with the consent of the
Trustee,  the  Certificate  Administrator  or the Depositor,  as applicable) the
defense  of any  such  claim  and  pay all  expenses  in  connection  therewith,
including  reasonable  counsel fees, and promptly pay, discharge and satisfy any
judgment or decree which may be entered against any Servicer,  the Trustee,  the
Certificate  Administrator,  the  Depositor  and/or the Trust in respect of such
claim.  The provisions of this Section  7.03(b) shall survive the resignation or
removal of any Servicer,  the  termination  of this Agreement and the payment of
the outstanding Certificates.

     (c) In taking  or  recommending  any  course  of  action  pursuant  to this
Agreement,  unless specifically required to do so pursuant to this Agreement,  a
Servicer shall not be required to investigate or make recommendations concerning
potential  liabilities which the Trust might incur as a result of such course of
action by reason of the  condition of the  Mortgaged  Properties  but shall give
notice to the Trustee and the Certificate Administrator if it has notice of such
potential  liabilities.  (d) A  Servicer  shall  not be  liable  for any acts or
omissions of any other Servicer, except as otherwise expressly provided herein.

     Section  7.04      Depositor  and Servicers  Not to Resign.  Subject to the
provisions of Section 7.02,  none of the Depositor or any Servicer  shall resign
from its  respective  obligations  and duties  hereby  imposed on it except upon
determination  that  its  duties  hereunder  are  no  longer  permissible  under
applicable  law.  Any  such  determination  permitting  the  resignation  of the
Depositor  or a  Servicer  shall be  evidenced  by an Opinion of Counsel to such
effect  delivered  to the Trustee  and the  Certificate  Administrator.  No such
resignation  by a  Servicer  shall  become  effective  until  the  Trustee  or a
successor  Servicer  shall have assumed  such  Servicer's  responsibilities  and
obligations in accordance with Section 8.05 hereof.

                                   ARTICLE VIII

                                     DEFAULT

     Section  8.01......Events  of Default.  If any one of the following  events
("Events of Default") shall occur and be continuing:

     (a) any  failure by a Servicer to deposit  amounts in the related  Servicer
Custodial  Account in the amount and manner  provided herein so as to enable the
Certificate  Administrator  to distribute to Holders of Certificates any payment
required  to be made  under the terms of such  Certificates  and this  Agreement
(other than the payments required to be made under Section 3.20) which continues
unremedied for a period of five days after the date upon which written notice of
such failure shall have been given to such Servicer; or

     (b)  failure  on the part of a  Servicer  duly to observe or perform in any
material respect any other covenants or agreements of such Servicer set forth in
the Certificates or in this Agreement,  which covenants and agreements  continue
unremedied  for a period of 30 days  after the date on which  written  notice of
such failure,  requiring the same to be remedied,  shall have been given to such
Servicer by the Certificate  Administrator,  the Trustee or the Depositor, or to
the Servicers, the Depositor,  the Certificate  Administrator and the Trustee by
the Holders of Certificates  evidencing Voting Rights  aggregating not less than
25% of all Certificates affected thereby; or

     (c) any breach of a  representation  or warranty  made by a Servicer  under
this  Agreement,  which  materially  and adversely  affects the interests of the
Certificateholders,  and which breach  continues  unremedied  for a period of 30
days after the date on which written  notice of such breach,  requiring the same
to be  remedied,  shall  have been  given to such  Servicer  by the  Certificate
Administrator, the Trustee or the Depositor, or to the Servicers, the Depositor,
the  Certificate  Administrator  and the Trustee by the Holders of  Certificates
evidencing  Voting  Rights  aggregating  not less  than 25% of all  Certificates
affected thereby; or

     (d) the  entry of a decree  or order by a court or  agency  or  supervisory
authority  having  jurisdiction  in  the  premises  for  the  appointment  of  a
conservator,  receiver or liquidator in any  insolvency,  readjustment  of debt,
marshalling of assets and liabilities or similar proceedings against a Servicer,
or  for  the  winding  up  or  liquidation  of a  Servicer's  affairs,  and  the
continuance  of any such decree or order  unstayed and in effect for a period of
60 consecutive days; or

     (e) the  consent by a  Servicer  to the  appointment  of a  conservator  or
receiver or liquidator in any insolvency,  readjustment of debt,  marshalling of
assets and liabilities or similar proceedings of or relating to a Servicer or of
or relating to substantially  all of its property;  or a 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  or  reorganization
statute,  make an assignment  for the benefit of its  creditors,  or voluntarily
suspend payment of its obligations; or

     (f) the failure of a Servicer to remit any Periodic  Advance required to be
remitted by such  Servicer  pursuant  to Section  3.20 which  failure  continues
unremedied at 3:00 p.m. Eastern Time on the related Distribution Date;

then, and in each and every such case (other than an Event of Default described
in clause (f) hereof), so long as an Event of Default shall not have been
remedied by the applicable Servicer, either the Trustee or the Depositor may,
and at the direction of the Holders of Certificates evidencing Voting Rights
aggregating not less than 51% of all Certificates affected thereby shall, by
notice then given in writing to such Servicer (and to the Trustee, if given by
the Depositor, and to the Depositor, if given by the Trustee), terminate all of
the rights and obligations of such Servicer under this Agreement. If an Event of
Default described in clause (f) hereof shall occur, the Trustee shall, by notice
to the related Servicer, terminate all of the rights and obligations of such
Servicer under this Agreement and the Trustee, or a successor Servicer appointed
pursuant to Section 8.05 shall make the Advance which such Servicer failed to
make. On or after the receipt by such Servicer of such written notice, all
authority and power of such 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, subject to Section 8.05 hereof, pursuant to and under
this Section 8.01, unless and until such time as the Trustee shall appoint a
successor Servicer pursuant to Section 8.05, and, without limitation, the
Trustee is hereby authorized and empowered to execute and deliver, on behalf of
such 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 of the Mortgage Loans and related
documents, or otherwise, including, without limitation, the recordation of the
assignments of the Mortgage Loans to it. Each Servicer agrees to cooperate with
the Trustee in effecting the termination of the responsibilities and rights of
such Servicer hereunder, including, without limitation, the transfer to the
Trustee, for the administration by it, of all cash amounts that have been
deposited by such Servicer in the related Servicer Custodial Account or
thereafter received by such Servicer with respect to the Mortgage Loans. Upon
obtaining notice or knowledge of the occurrence of any Event of Default, the
Person obtaining such notice or knowledge shall give prompt written notice
thereof to Certificateholders at their respective addresses appearing in the
Certificate Register and to each Rating Agency. All costs and expenses
(including attorneys' fees) incurred in connection with transferring the
Mortgage Files to the successor Servicer and amending this Agreement to reflect
such succession as Servicer pursuant to this Section 8.01 shall be paid by the
predecessor Servicer (or, if the predecessor Servicer is the Trustee, the
predecessor to such predecessor, or, if not so paid, by the Trust).
Notwithstanding the termination of any Servicer pursuant hereto, each Servicer
shall remain liable for any causes of action arising out of any Event of Default
relating to such Servicer occurring prior to such termination.

            The Holders of Certificates entitled to at least 66 2/3% of the
Voting Rights allocated to the Classes of Certificates affected by an Event of
Default may, on behalf of all Certificateholders, waive any events permitting
removal of a Servicer as servicer pursuant to this Article VII, provided,
however, that an Event of Default involving making a required distribution on a
Certificate may only be waived by all Holders of Certificates. Upon any waiver
of a past default, such default shall cease to exist and any Event of Default
arising therefrom shall be deemed to have been remedied for every purpose of
this Agreement. No such waiver shall extend to any subsequent or other default
or impair any right consequent thereto except to the extent expressly so waived.
Notice of any such waiver shall be given by the Certificate Administrator to the
Rating Agencies.

     Section  8.02      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  8.01,  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
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.

     Section  8.03      Directions  by Certificateholders  and Duties of Trustee
During Event of Default. During the continuance of any Event of Default, Holders
of Certificates  evidencing Voting Rights  aggregating not less than 25% of each
Class of Certificates  affected thereby 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  trusts  or  powers  vested  in it by  this
Agreement (including, without limitation, (a) the conducting or defending of any
administrative action or litigation hereunder or in relation hereto, and (b) the
terminating  of a Servicer or any successor  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 costs,  expenses  and
liabilities  which may be incurred  therein or thereby  and,  provided  further,
that,  subject to the  provisions  of Section  9.01,  the Trustee shall have the
right to decline  to follow any such  direction  if the  Trustee,  based upon 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 non-assenting Certificateholders.

     Section 8.04      Action upon Certain Failures of a Servicer and upon Event
of  Default.  In  the  event  that a  Responsible  Officer  of  the  Certificate
Administrator  or the Trustee  shall have actual  knowledge  of any failure of a
Servicer  specified  in Section  8.01(a) or (b) which  would  become an Event of
Default  upon such  Servicer's  failure  to remedy the same  after  notice,  the
Certificate  Administrator or the Trustee, as the case may be, shall give notice
thereof  to  such  Servicer.   If  a  Responsible  Officer  of  the  Certificate
Administrator  or the Trustee shall have  knowledge of an Event of Default,  the
Certificate  Administrator or the Trustee, as the case may be, shall give prompt
written notice thereof to the Certificateholders.

     Section 8.05      Trustee to Act; Appointment of Successor.

     (a) On and  after the time a  Servicer  receives  a notice  of  termination
pursuant  to Section  8.01,  the Trustee  shall,  subject to the  provisions  of
Section 3.07 hereof,  be the  successor in all respects to such  Servicer in its
capacity as servicer  under this  Agreement  and the  transactions  set forth or
provided for herein and shall be subject to all the responsibilities, duties and
liabilities relating thereto placed on such Servicer by the terms and provisions
hereof or shall appoint a successor  pursuant to Section  3.07.  Notwithstanding
anything  provided  herein to the  contrary,  under no  circumstances  shall any
provision of this  Agreement be construed to require the Trustee,  acting in its
capacity as  successor  to a Servicer in its  obligation  to make  Advances,  to
advance, expend or risk its own funds or otherwise incur any financial liability
in the performance of its duties  hereunder if it shall have reasonable  grounds
for believing that such funds are  non-recoverable.  Subject to Section 8.05(b),
as compensation  therefor, the Trustee shall be entitled to such compensation as
the terminated  Servicer would have been entitled to hereunder if no such notice
of termination had been given. Notwithstanding the above, the Trustee may, if it
shall be  unwilling  so to act,  or shall,  if it is  legally  unable so to act,
appoint,  or  petition  a  court  of  competent  jurisdiction  to  appoint,  any
established  housing and home finance institution having a net worth of not less
than  $15,000,000 as the successor to the terminated  Servicer  hereunder in the
assumption of all or any part of the responsibilities,  duties or liabilities of
such Servicer hereunder;  provided, however, that any such institution appointed
as successor  Servicer shall not, as evidenced in writing by each Rating Agency,
adversely   affect  the  then  current  rating  of  any  Class  of  Certificates
immediately prior to the termination of the terminated Servicer. The appointment
of the Trustee or any other successor Servicer shall not affect any liability of
the predecessor Servicer which may have arisen under this Agreement prior to its
termination as a Servicer, nor shall the Trustee or any other successor Servicer
be liable  for any acts or  omissions  of the  predecessor  Servicer  or for any
breach by such predecessor  Servicer of any of its representations or warranties
contained herein or in any related document or agreement. Pending appointment of
a  successor  to the  terminated  Servicer  hereunder,  unless  the  Trustee  is
prohibited  by law from so acting,  the  Trustee  shall act in such  capacity as
provided  above.  The  Trustee  and  such  successor  shall  take  such  action,
consistent  with this  Agreement,  as shall be necessary to effectuate  any such
succession.

     (b) In  connection  with the  appointment  of a  successor  Servicer or the
assumption  of the duties of a Servicer,  as specified in Section  8.05(a),  the
Trustee may make such arrangements for the compensation of such successor out of
payments on Mortgage Loans serviced by the  predecessor  Servicer as it and such
successor shall agree, not to exceed the Servicing Fee Rate.

     (c) Any successor,  including the Trustee,  to a Servicer as servicer shall
during the term of its  service as  servicer  maintain  in force (i) a policy or
policies of insurance  covering  errors and omissions in the  performance of its
obligations  as servicer  hereunder  and (ii) a fidelity  bond in respect of its
officers,  employees  and agents to the same extent as a Servicer is so required
pursuant to Section 3.03.

     Section 8.06      Notification to Certificateholders.  Upon any termination
or appointment of a successor to the Servicer pursuant to this Article VIII, the
Certificate   Administrator   shall  give  prompt   written  notice  thereof  to
Certificateholders  at their respective  addresses  appearing in the Certificate
Register and to the Rating Agencies.

                                      ARTICLE IX

                    THE TRUSTEE AND CERTIFICATE ADMINISTRATOR

     Section 9.01      Duties of Trustee and the Certificate Administrator.

     (a) The Trustee  prior to the  occurrence  of an Event of Default and after
the  curing  or  waiver  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 of which a
Responsible  Officer of the Trustee shall have actual  knowledge  (which has not
been cured or waived),  the Trustee shall exercise such of the rights and powers
vested  in it by this  Agreement,  and use the same  degree of care and skill in
their  exercise as a reasonably  prudent  person would exercise or use under the
circumstances  in the conduct of such  person's  own  affairs.  The  Certificate
Administrator shall perform such duties and only such duties as are specifically
required of it, as set forth in this Agreement.

            The Trustee and the Certificate Administrator, upon receipt of all
resolutions, certificates, statements, opinions, reports, documents, orders or
other instruments furnished to the Trustee and the Certificate Administrator
which are specifically required to be furnished pursuant to any provision of
this Agreement, shall examine them to determine whether they conform to the
requirements of this Agreement; provided however that neither the Trustee nor
the Certificate Administrator shall be responsible for the accuracy or content
of any resolution, certificate, statement, opinion, report, document, order or
other instrument furnished by the Servicers or the Depositor hereunder. If any
such instrument is found not to conform in any material respect to the
requirements of this Agreement, the Trustee or the Certificate Administrator, as
the case may be, shall notify the Certificateholders of such instrument in the
event that the Trustee or the Certificate Administrator, as the case may be,
after so requesting, does not receive a satisfactorily corrected instrument.

     (b) No  provision  of this  Agreement  shall be  construed  to relieve  the
Trustee or the  Certificate  Administrator  from liability for its own negligent
action,  its  own  negligent  failure  to act or its  own  willful  misfeasance;
provided, however, that:

          (i)  Prior  to the  occurrence  of an  Event  of  Default  of  which a
     Responsible  Officer of the Trustee shall have actual knowledge,  and after
     the curing or waiver of all such Events of Default which may have occurred,
     the duties and obligations of the Trustee shall be determined solely by the
     express  provisions  of this  Agreement,  the  Trustee  shall not be liable
     except  for  the   performance  of  such  duties  and  obligations  as  are
     specifically  set  forth  in  this  Agreement,   no  implied  covenants  or
     obligations  shall be read into this  Agreement  against the Trustee or the
     Certificate  Administrator  and, in the absence of bad faith on the part of
     the  Trustee  and  the  Certificate  Administrator,  the  Trustee  and  the
     Certificate  Administrator  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 the  Certificate
     Administrator  by the Depositor or any Servicer and which on their face, do
     not contradict the requirements of this Agreement;

          (ii)  Neither  the  Trustee  (in  its  individual  capacity)  nor  the
     Certificate  Administrator (in its individual capacity) shall be personally
     liable  for an  error of  judgment  made in good  faith by any  Responsible
     Officer  or other  officers  thereof,  unless it shall be  proved  that the
     Trustee or the Certificate Administrator, as the case may be, was negligent
     in ascertaining the pertinent facts;

          (iii)  Neither  the  Trustee  (in  its  individual  capacity)  nor the
     Certificate  Administrator (in its individual capacity) shall be personally
     liable with respect to any action taken, suffered or omitted to be taken by
     it in good faith in accordance with the direction of  Certificateholders as
     provided in Section 8.03;

          (iv) The Trustee shall not be charged with knowledge of any default or
     Event of Default  unless a Responsible  Officer of the Trustee  assigned to
     and working in the Corporate Trust Office obtains actual  knowledge of such
     default or Event of Default or any officer of the Trustee  receives written
     notice of such default or Event of Default at its  Corporate  Trust Office.
     In the  absence  of such  notice  or  actual  knowledge,  the  Trustee  may
     conclusively assume that there is no default or Event of Default; and

          (v) The Certificate  Administrator shall not be charged with knowledge
     of any  default  (other  than  a  default  in  payment  to the  Certificate
     Administrator)   unless   a   Responsible   Officer   of  the   Certificate
     Administrator  assigned to working in the  Corporate  Trust Office  obtains
     actual knowledge of such failure or event or any officer of the Certificate
     Administrator  receives  written  notice  of such  failure  or event at its
     Corporate  Trust  Office and in the  absence  of receipt of such  notice or
     actual knowledge,  the Certificate  Administrator  may conclusively  assume
     that there is no default or Event of Default;

          (vi) No provision in this  Agreement  shall require the Trustee or the
     Certificate  Administrator  to  expend  or risk its own  funds  (including,
     without limitation, the making of any Advance by the Trustee as a successor
     Servicer)  or  otherwise  incur any  personal  financial  liability  in the
     performance  of any of its duties as Trustee or  Certificate  Administrator
     hereunder,  or in the  exercise  of any of its  rights  or  powers,  if the
     Trustee or the Certificate  Administrator shall have reasonable grounds for
     believing that repayment of funds or adequate  indemnity  against such risk
     or liability  is not  reasonably  assured to it and none of the  provisions
     contained in this  Agreement  shall in any event require the Trustee or the
     Certificate  Administrator to perform,  or be responsible for the manner or
     performance  of, any of the obligations of a Servicer under this Agreement,
     except,  with  respect to the  Trustee,  during  such time,  if any, as the
     Trustee shall be the  successor to, and be vested with the rights,  duties,
     powers and  privileges  of, a predecessor  Servicer in accordance  with the
     terms of this Agreement;  and

          (vii) Neither the Certificate Administrator nor the Trustee shall have
     a duty (A) to see to any recording, filing, or depositing of this Agreement
     or  any  agreement  referred  to  herein  or  any  financing  statement  or
     continuation  statement, or to see to the maintenance of any such recording
     or filing or depositing or to any rerecording,  refiling or redepositing of
     any  thereof,  (B) to see to any  insurance,  (C) to see to the  payment or
     discharge or any tax, assessment,  or other governmental charge or any lien
     or  encumbrance  of any kind  owing with  respect  to,  assessed  or levied
     against,  any part of the Trust Estate  other than from funds  available in
     the  Certificate  Account,  or  (D)  unless  required  to do so by  law  or
     regulation enacted after the date of this Agreement,  file any certificates
     required under the Sarbanes-Oxley  Act of 2002.

     Section  9.02......Certain  Matters  Affecting the Trustee and  Certificate
Administrator.

     Except as otherwise  provided in Section 9.01:

          (i) Each of the Trustee and the Certificate  Administrator may request
     and rely upon and shall be  protected in acting or  refraining  from acting
     upon any resolution, Officer's 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 parties;

          (ii) Each of the Trustee and the Certificate Administrator may consult
     with  counsel  and any  advice  or  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) Neither the Trustee nor the Certificate  Administrator  shall be
     under any  obligation  to exercise any of the trusts or powers vested in it
     by this  Agreement  or to  institute,  conduct  or  defend  any  litigation
     hereunder or in relation  hereto at the request,  order or direction of any
     of the  Certificateholders,  pursuant to the provisions of this  Agreement,
     unless  such  Certificateholders  shall have  offered to the Trustee or the
     Certificate  Administrator,  as the case  may be,  reasonable  security  or
     indemnity against the costs, expenses and liabilities which may be incurred
     therein or thereby;  nothing contained herein shall,  however,  relieve the
     Trustee of the  obligation,  upon the  occurrence of an Event of Default of
     which a Responsible Officer shall have actual knowledge (which has not been
     cured or waived), to exercise such of the rights and powers vested in it by
     this  Agreement,  and to use the same  degree  of care  and  skill in their
     exercise as a prudent person would exercise or use under the  circumstances
     in the conduct of such person's own affairs;

          (iv) Neither the Trustee nor the  Certificate  Administrator  shall be
     personally  liable for any action taken,  suffered or omitted by it in good
     faith and  believed  by it to be  authorized  or within the  discretion  or
     rights or powers conferred upon it by this Agreement;

          (v) Prior to the occurrence of an Event of Default hereunder and after
     the curing or waiving of all Events of Default which may have occurred, the
     Trustee  shall  not be bound to make any  investigation  into the  facts or
     matters  stated  in any  resolution,  certificate,  statement,  instrument,
     opinion,  report, notice, request,  consent, order, approval, bond or other
     paper or  document,  unless  requested  in  writing  so to do by Holders of
     Certificates  of  any  Class  evidencing,  as  to  such  Class,  Percentage
     Interests  aggregating not less than 50%;  provided,  however,  that if the
     payment within a reasonable  time to the Trustee of the costs,  expenses or
     liabilities likely to be incurred by it in the making of such investigation
     is, in the opinion of the Trustee, not reasonably assured to the Trustee by
     the security afforded to it by the terms of this Agreement, the Trustee may
     require  reasonable  indemnity against such expense or liability or payment
     of such estimated  expenses as a condition to so proceeding;

          (vi)  Prior to the  occurrence  of an Event of Default  hereunder  and
     after the  curing  or  waiving  of all  Events  of  Default  which may have
     occurred,  the  Certificate  Administrator  shall  not be bound to make any
     investigation   into  the  facts  or  matters  stated  in  any  resolution,
     certificate,  statement,  instrument,  opinion,  report,  notice,  request,
     consent, order, approval, bond or other paper or document, unless requested
     in writing so to do by Holders of Certificates of any Class evidencing,  as
     to  such  Class,  Percentage  Interests  aggregating  not  less  than  50%;
     provided,  however,  that if the payment  within a  reasonable  time to the
     Certificate  Administrator of the costs,  expenses or liabilities likely to
     be incurred by it in the making of such investigation is, in the opinion of
     the Certificate  Administrator,  not reasonably  assured to the Certificate
     Administrator  by  the  security  afforded  to  it by  the  terms  of  this
     Agreement,  the Certificate  Administrator may require reasonable indemnity
     against such expense or liability or payment of such estimated  expenses as
     a condition  to so  proceeding;  and

          (vii) The right of the Trustee and the  Certificate  Administrator  to
     perform any  discretionary  act enumerated in this  Agreement  shall not be
     construed  as a duty,  and neither the  Certificate  Administrator  nor the
     Trustee  shall be  answerable  for  other  than it  negligence  or  willful
     misconduct in the  performance of such act;

          (viii) Neither the Trustee nor the Certificate  Administrator shall be
     required  to give any bond or surety in  respect  of the  execution  of the
     Trust  created  hereby  or the  powers  granted  hereunder;  and  (ix)  The
     Certificate  Administrator and 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 or the  Custodian  or any other  custodian or
     nominee, and neither the Trustee nor the Certificate Administrator shall be
     responsible  for any  misconduct  or negligence on the part of (1) any such
     agent,  attorney or custodian  appointed by them with due care,  or (2) the
     Custodian.

     Section  9.03      Neither Trustee nor Certificate Administrator Liable for
Certificates  or  Mortgage  Loans.  The  recitals  contained  herein  and in the
Certificates  (other  than the  execution  of,  and the  authentication  of, the
Certificates by the Trustee) shall not be taken as the statements of the Trustee
or the  Certificate  Administrator,  and neither the Trustee nor the Certificate
Administrator assumes responsibility for their correctness.  Neither the Trustee
nor the Certificate  Administrator  makes any representations as to the validity
or sufficiency of this  Agreement or of the  Certificates  or any Mortgage Loans
save that the Trustee and the Certificate Administrator represent that, assuming
due execution and delivery by the other parties hereto,  this Agreement has been
duly authorized,  executed and delivered by it and constitutes its legal,  valid
and binding  obligation,  enforceable  against it in accordance  with its terms,
subject  to  applicable  insolvency,  receivership,  moratorium  and other  laws
affecting the rights of creditors generally, and to general principles of equity
and  the  discretion  of  the  court  (regardless  of  whether  considered  in a
proceeding  in  equity  or at law).  Neither  the  Trustee  nor the  Certificate
Administrator  shall be accountable  for the use or application by the Depositor
of  funds  paid to the  Depositor  in  consideration  of the  assignment  of the
Mortgage Loans hereunder by the Depositor,  or for the use or application of any
funds paid to  Subservicers  or any Servicer in respect of the Mortgage Loans or
deposited  into a Servicer  Custodial  Account,  or any other account  hereunder
(other than the Certificate Account) by a Servicer.

            Neither the Trustee nor the Certificate Administrator shall at any
time have any responsibility or liability for or with respect to the legality,
validity and enforceability of any Mortgage or any Mortgage Loan, or the
perfection and priority of any Mortgage or the maintenance of any such
perfection and priority or for or with respect to the sufficiency of the Trust
Estate or its ability to generate the payments to be distributed to
Certificateholders under this Agreement, including, without limitation: the
existence, condition and ownership of any Mortgaged Property; the existence and
enforceability of any hazard insurance thereon (other than if the Trustee shall
assume the duties of a predecessor Servicer pursuant to Section 8.05 and
thereupon only for the acts or omissions of the Trustee as successor Servicer);
the validity of the assignment of any Mortgage Loan to the Trustee or of any
intervening assignment; the completeness of any Mortgage Loan; the performance
or enforcement of any Mortgage Loan (other than if the Trustee shall assume the
duties of a predecessor Servicer pursuant to Section 8.05 and thereupon only for
the acts or omissions of the Trustee as successor Servicer); the compliance by
the Depositor or the Servicers with any warranty or representation made under
this Agreement or in any related document or the accuracy of any such warranty
or representation; any investment of monies by or at the direction of a Servicer
or any loss resulting therefrom, it being understood that the Trustee and the
Certificate Administrator shall remain responsible for any part of the Trust
Estate that either party may hold in its individual capacity; the acts or
omissions of any of the Depositor, any Servicer (other than if the Trustee shall
assume the duties of a predecessor Servicer pursuant to Section 8.05 and
thereupon only for the acts or omissions of the Trustee as successor Servicer),
any Subservicer or any Mortgagor; any action of any Servicer (other than if the
Trustee shall assume the duties of a predecessor Servicer pursuant to Section
8.05 and thereupon only for the acts or omissions of the Trustee as successor
Servicer) or any Subservicer taken in the name of the Trustee or the Certificate
Administrator; the failure of any Servicer or any Subservicer to act or perform
any duties required of it as agent of the Trustee or the Certificate
Administrator hereunder; or any action by the Trustee or the Certificate
Administrator taken at the instruction of a Servicer (other than if the Trustee
shall assume the duties of a predecessor Servicer pursuant to Section 8.05 and
thereupon only for the acts or omissions of the Trustee as successor Servicer);
provided, however, that the foregoing shall not relieve the Trustee or the
Certificate Administrator of its obligation to perform its duties under this
Agreement.

     Section   9.04      Trustee   and   Certificate   Administrator   May   Own
Certificates.  Each of the Trustee and the  Certificate  Administrator  in their
individual  or  any  other  capacities  may  become  the  owner  or  pledgee  of
Certificates  with  the same  rights  it would  have if it were not  Trustee  or
Certificate  Administrator  and  may  otherwise  deal  with  any  Servicer,  any
Subservicer or any of their  respective  affiliates with the same right it would
have if it were not the Trustee or the Certificate Administrator.

     Section   9.05      Eligibility   Requirements  for  Trustee,   Certificate
Administrator.  Each of the Trustee and the Certificate  Administrator hereunder
shall at all times be (a) an institution the deposits of which are fully insured
by the FDIC and (b) a  corporation  or banking  association  organized and doing
business  under  the laws of the  United  States  of  America  or of any  State,
authorized under such laws to exercise corporate trust powers, having a combined
capital and surplus of not less than  $50,000,000  and subject to supervision or
examination  by  Federal  or  State  authority  and (c)  with  respect  to every
successor trustee or certificate  administrator  hereunder either an institution
(i) the long-term  unsecured debt obligations of which are rated at least "A" by
Fitch  and  S&P  and  "A2" by  Moody's  or (ii)  whose  serving  as  Trustee  or
Certificate  Administrator  hereunder  would not result in the  lowering  of the
ratings originally assigned to any Class of Certificates.  The Trustee shall not
be an affiliate of the Depositor or any Servicer. If such corporation or banking
association publishes reports of condition at least annually, pursuant to law or
to the requirements of the aforesaid  supervising or examining  authority,  then
for the purposes of this Section 9.05, the combined  capital and surplus of such
corporation or banking  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 or the Certificate  Administrator shall cease to be
eligible in accordance  with the provision of this Section 9.05,  the Trustee or
the Certificate  Administrator,  as the case may be, shall resign immediately in
the manner and with the  effect  specified  in  Section  9.06.  The  Certificate
Administrator  and  any  successor  Certificate  Administrator  may  not  be the
Depositor  or an  affiliate  of the  Depositor,  or an  originator,  Servicer or
subservicer of the Mortgage Loans,  unless the Certificate  Administrator  is an
institutional  trust department.  Section  9.06......Resignation  and Removal of
Trustee  and  the  Certificate  Administrator.  Either  of  the  Trustee  or the
Certificate  Administrator  may at any time  resign and be  discharged  from the
trust hereby  created by giving  written  notice  thereof to the  Servicers  and
mailing a copy of such  notice to all  Holders  of  record.  The  Trustee or the
Certificate Administrator,  as applicable, shall also mail a copy of such notice
of resignation to each Rating Agency. Upon receiving such notice of resignation,
the  Servicers  shall use their  best  efforts  to  promptly  appoint a mutually
acceptable  successor Trustee or Certificate  Administrator,  as applicable,  by
written  instrument,  in  duplicate,  one  copy of  which  instrument  shall  be
delivered to the resigning Trustee or Certificate Administrator,  as applicable,
and  one  copy  to  the  successor  Trustee  or  Certificate  Administrator,  as
applicable.  If no successor Trustee or Certificate  Administrator,  as the case
may be, shall have been so appointed and shall have accepted  appointment within
30 days after the giving of such notice of resignation, the resigning Trustee or
Certificate  Administrator may petition any court of competent  jurisdiction for
the appointment of a successor Trustee or Certificate Administrator.

            If at any time the Trustee or the Certificate Administrator shall
cease to be eligible in accordance with the provisions of Section 9.05 and shall
fail to resign after written request therefor by a Servicer, or if at any time
the Trustee or the Certificate Administrator shall become incapable of acting,
or shall be adjudged a bankrupt or insolvent, or a receiver or conservator of
the Trustee or the Certificate Administrator or of their respective property
shall be appointed, or any public officer shall take charge or control of the
Trustee or the Certificate Administrator or of their respective property or
affairs for the purpose of rehabilitation, conservation or liquidation, then the
Servicers may remove the Trustee or the Certificate Administrator, as the case
may be, and appoint a successor Trustee or Certificate Administrator by written
instrument, in duplicate, one copy of which instrument shall be delivered to the
Trustee or the Certificate Administrator, as applicable, so removed and one copy
to the successor.

            The Holders of Certificates evidencing not less than 50% of the
Voting Rights may at any time remove the Trustee or the Certificate
Administrator by written instrument or instruments delivered to the Servicers
and the Trustee or the Certificate Administrator, as applicable; the Servicers
shall thereupon use their best efforts to appoint a mutually acceptable
successor Trustee or Certificate Administrator, as the case may be, in
accordance with this Section 9.06.

            Any resignation or removal of the Trustee or Certificate
Administrator and appointment of a successor Trustee or successor Certificate
Administrator pursuant to any of the provisions of this Section 9.06 shall
become effective upon acceptance of appointment by the successor Trustee or
Certificate Administrator, as the case may be, as provided in Section 9.07.
Notwithstanding the foregoing, in the event the Certificate Administrator
advises the Trustee that it is unable to continue to perform its obligations
pursuant to the terms of this Agreement prior to the appointment of a successor,
the Trustee shall be obligated to perform such obligations until a new
Certificate Administrator is appointed. Such performance shall be without
prejudice to any claim by a party hereto or beneficiary hereof resulting from
the Certificate Administrator's breach of its obligations hereunder. As
compensation therefore, the Trustee shall be entitled to all fees the
Certificate Administrator would have been entitled to if it had continued to act
hereunder.

     Section  9.07      Successor  Trustee  or  Certificate  Administrator.  Any
successor Trustee or successor Certificate  Administrator  appointed as provided
in Section 9.06 shall execute,  acknowledge  and deliver to the Servicers and to
its  predecessor  Trustee  or  Certificate  Administrator,   as  applicable,  an
instrument accepting such appointment  hereunder,  and thereupon the resignation
or removal of the predecessor Trustee or Certificate  Administrator shall become
effective and such successor Trustee or Certificate  Administrator,  as the case
may be, without any further act, deed or  conveyance,  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 or  Certificate
Administrator,  as applicable,  herein.  The predecessor  Trustee or Certificate
Administrator shall duly assign, transfer, deliver and pay over to the successor
Trustee or Certificate  Administrator,  as the case may be, all Mortgage  Files,
related  documents  and  statements,  and money and  other  property  held by it
hereunder,  together with all  instruments  of transfer and  assignment or other
documents  properly  executed  as may be  reasonably  required  to  effect  such
transfer and such of the records or copies thereof maintained by the predecessor
Trustee or  Certificate  Administrator  in the  administration  hereof as may be
reasonably requested by the successor Trustee or Certificate  Administrator,  as
the  case may be,  and  shall  thereupon  be  discharged  from  all  duties  and
responsibilities   under  this  Agreement;   provided,   however,  that  if  the
predecessor Trustee or Certificate Administrator has been terminated pursuant to
the third paragraph of Section 9.06, all reasonable  expenses of the predecessor
Trustee or  Certificate  Administrator  incurred in complying  with this Section
9.07 shall be reimbursed by the Trust.

            No successor Trustee or Certificate Administrator shall accept
appointment as provided in this Section 9.07 unless at the time of such
appointment such successor Trustee or Certificate Administrator, as the case may
be, shall be eligible under the provisions of Section 9.05.

            Upon acceptance of appointment by a successor Trustee or Certificate
Administrator, as applicable, as provided in this Section 9.07, each Servicer
shall cooperate to mail notice of the succession of such Trustee or Certificate
Administrator, as the case may be, hereunder to all Holders of Certificates at
their addresses as shown in the Certificate Register and to each Rating Agency.
If either Servicer fails to mail such notice within ten days after acceptance of
appointment by the successor Trustee or Certificate Administrator, the successor
Trustee or Certificate Administrator, as the case may be, shall cause such
notice to be mailed at the expense of such Servicer.

     Section  9.08      Merger  or  Consolidation  of Trustee or the Certificate
Administrator.  Any  corporation  or banking  association  into which either the
Trustee or the  Certificate  Administrator  may be merged or  converted  or with
which  it may  be  consolidated,  or  any  corporation  or  banking  association
resulting from any merger,  conversion or  consolidation to which the Trustee or
the  Certificate  Administrator  shall be a party, or any corporation or banking
association  succeeding  to all or  substantially  all  of the  corporate  trust
business of the Trustee or the Certificate Administrator, shall be the successor
of the Trustee or the Certificate  Administrator,  as applicable,  hereunder, if
such  corporation  or banking  association  is eligible  under the provisions of
Section 9.05, without the execution or filing of any paper or any further act on
the  part  of  any  of the  parties  hereto,  anything  herein  to the  contrary
notwithstanding.

     Section   9.09      Appointment   of   Co-Trustee   or  Separate   Trustee.
Notwithstanding  any of the provisions  hereof,  at any time, for the purpose of
meeting  any legal  requirements  of any  jurisdiction  in which  any  Mortgaged
Property may at the time be located or for any other  reason,  the Servicers and
the Trustee  acting  jointly  shall have the power and shall execute and deliver
all  instruments  to appoint  one or more  Persons  approved  by the  Trustee as
co-trustee or separate  trustee of all or any part of the Trust  Estate,  and to
vest in such Persons,  in such capacity,  such title to the Trust Estate, or any
part thereof,  and,  subject to the other  provision of this Section 9.09,  such
powers, duties, obligations,  rights and trusts as the Servicers and the Trustee
may consider  necessary or desirable.  If the Servicers shall not have joined in
such appointment  within ten days after the receipt by it of a request to do so,
the Trustee alone shall have the power to make such  appointment.  No co-trustee
or separate trustee hereunder shall be required to meet the terms of eligibility
as a  successor  Trustee  under  Section  9.05  and  no  notice  to  Holders  of
Certificates of the  appointment of a co-trustee or a separate  trustee shall be
required under Section 9.07.

            In the case of any appointment of a co-trustee or separate trustee
pursuant to this Section 9.09, all rights, powers, duties and obligations
conferred or imposed upon the Trustee shall be conferred or imposed upon and
exercised or performed by the Trustee and such separate trustee or co-trustee
jointly, except to the extent that under any law of any jurisdiction in which
any particular acts are to be performed, the Trustee shall be incompetent or
unqualified to perform such 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 at the direction of the Trustee. No trustee
hereunder shall be held personally liable by reason of any act or omission of
any other trustee hereunder; provided, however, that no appointment of a
co-trustee or separate trustee hereunder shall relieve the Trustee of its
obligations hereunder.

            Any notice, request or other writing given to the Trustee shall be
deemed to have been given to each of the then separate trustees and co-trustees,
as effectively as if given to each of them. Every instrument appointing any
separate trustee or co-trustee shall refer to this Agreement and the conditions
of this Article IX. Each separate trustee and co-trustee, upon its acceptance of
the trusts conferred, shall be vested with the estates or property specified in
its instrument of appointment, either jointly with the Trustee or separately, as
may be provided therein, subject to all the provisions of this Agreement,
specifically including every provision of this Agreement relating to the conduct
of, affecting the liability of, or affording protection to, the Trustee. Every
such instrument shall be filed with the Trustee.

            Any separate trustee or co-trustee may, at any time, constitute the
Trustee its agent or attorney-in-fact, with full power and authority, to the
extent not prohibited by law, to do any lawful act under or in respect of this
Agreement on its behalf and in its name. If any separate trustee or co-trustee
shall become incapable of acting, resign or be removed, or shall be adjudged a
bankrupt or insolvent, or a receiver of its property shall be appointed, or any
public officer shall take charge or control of such trustee or co-trustee or of
its property or affairs for the purpose of rehabilitation, conservation or
liquidation, all of its estates, properties, rights, remedies and trusts shall
vest in and be exercised by the Trustee, to the extent permitted by law, without
the appointment of a new or successor trustee.

     Section  9.10      Authenticating  Agents.  The  Trustee may appoint one or
more authenticating agents  ("Authenticating  Agents") which shall be authorized
to  act  on  behalf  of  the  Trustee  in   authenticating   or   countersigning
Certificates.  Initially,  the Authenticating  Agent shall be U.S. Bank National
Association.  Wherever reference is made in this Agreement to the authentication
or countersigning of Certificates by the Trustee or the Trustee's certificate of
authentication  or  countersigning,  such  reference  shall be deemed to include
authentication  or  countersigning on behalf of the Trustee by an Authenticating
Agent and a certificate of authentication or countersignature executed on behalf
of the Trustee by an  Authenticating  Agent. Each  Authenticating  Agent must be
acceptable to the Servicers  and must be a  corporation  or banking  association
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 New York, New
York, 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 or banking association into which any Authenticating
Agent may be merged or converted or with which it may be consolidated, or any
corporation or banking association resulting from any merger, conversion or
consolidation to which any Authenticating Agent shall be a party, or any
corporation or banking association succeeding to the corporate agency business
of any Authenticating Agent, shall continue to 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.

            Any Authenticating Agent may at any time resign by giving written
notice of resignation to the Trustee, the Certificate Administrator and to the
Servicers. The Trustee may at any time terminate the agency of any
Authenticating Agent by giving written notice of termination to such
Authenticating Agent and to the Servicers. Upon receiving a notice of
resignation or upon such a termination, or in case, at any time any
Authenticating Agent shall cease to be eligible in accordance with the
provisions of this Section 9.10, the Trustee may appoint a successor
Authenticating Agent, shall give written notice of such appointment to each
Servicer and the Certificate Administrator 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. Each Authenticating Agent
shall be entitled to the rights and benefits and immunities of this Article IX.

     Section 9.11    Trustee's Fees and Expenses and Certificate Administrator's
Fees and  Expenses.  The  Certificate  Administrator,  as  compensation  for its
activities hereunder,  shall be entitled to receive on each Distribution Date an
amount equal to the Certificate  Administrator  Fee for such  Distribution  Date
pursuant to Section 5.02(a) and Section 3.11. The Trustee,  as compensation  for
its  services  hereunder,  shall be entitled  to a fee in an amount  agreed upon
between  the  Trustee  and  the  Certificate   Administrator,   payable  by  the
Certificate  Administrator  out of its own funds and not out of any funds of the
Trust Estate.  The Trustee and the Certificate  Administrator  and any director,
officer,  employee  or agent of the Trustee  and the  Certificate  Administrator
shall be indemnified by the Trust and held harmless against any loss,  liability
or expense  (including  reasonable  attorney's  fees) (a) incurred in connection
with  any  claim or  legal  action  relating  to (i)  this  Agreement,  (ii) the
Certificates,  or  (iii)  the  performance  of  any  of  the  Trustee's  or  the
Certificate  Administrator's duties hereunder, other than any loss, liability or
expense  incurred by reason of willful  misfeasance,  bad faith or negligence in
the  performance of any of its duties  hereunder,  (b) resulting from any tax or
information  return which was prepared by, or should have been  prepared by, the
Servicers or (c) arising out of the transfer of any Private  Certificate  not in
compliance  with ERISA.  Such  indemnity  shall survive the  termination of this
Agreement  or  the   resignation  or  removal  of  the  Trustee  or  Certificate
Administrator, as applicable,  hereunder. Without limiting the foregoing, except
as  otherwise  agreed  upon in writing by the  Depositor  and the Trustee or the
Certificate  Administrator,  as  applicable,  and except  for any such  expense,
disbursement  or  advance  as may arise from the  Trustee's  or the  Certificate
Administrator's  negligence,  bad faith or willful  misconduct,  the Trust shall
reimburse  the  Trustee and the  Certificate  Administrator  for all  reasonable
expenses,  disbursements  and  advances  incurred  or made by the Trustee or the
Certificate  Administrator,  as  applicable,  in  accordance  with  any  of  the
provisions  of this  Agreement to the extent  permitted by Treasury  Regulations
Section  1.860G-1(b)(3)(ii)  and (iii).  Except as  otherwise  provided  herein,
neither  the  Trustee  nor the  Certificate  Administrator  shall be entitled to
payment or  reimbursement  for any  routine  ongoing  expenses  incurred  by the
Trustee or the Certificate Administrator,  as applicable, in the ordinary course
of its duties as Trustee or Certificate Administrator,  Certificate Registrar or
Paying Agent hereunder or for any other expenses.

     Section 9.12      [Reserved]

     Section 9.13      Paying Agents. The Certificate  Administrator may appoint
one or more Paying Agents (each, a "Paying  Agent") which shall be authorized to
act on behalf of the Certificate  Administrator  in making  withdrawals from the
Certificate  Account  and  distributions  to  Certificateholders  as provided in
Section 3.08 and Section 5.02.  Wherever  reference is made in this Agreement to
the withdrawal  from the Certificate  Account by the Certificate  Administrator,
such  reference  shall be deemed to include such a  withdrawal  on behalf of the
Certificate  Administrator by a Paying Agent. Initially,  the Paying Agent shall
be the Certificate  Administrator.  Whenever reference is made in this Agreement
to a  distribution  by the  Certificate  Administrator  or the  furnishing  of a
statement to Certificateholders by the Certificate Administrator, such reference
shall be deemed to include such a  distribution  or  furnishing on behalf of the
Certificate  Administrator by a Paying Agent. Each Paying Agent shall provide to
the  Certificate  Administrator  such  information  concerning  the  Certificate
Account as the Certificate  Administrator  shall request from time to time. Each
Paying  Agent  must be  reasonably  acceptable  to the  Servicers  and must be a
corporation or banking  association  organized and doing business under the laws
of the United States of America or of any state,  having  (except in the case of
the Trustee and the Certificate  Administrator)  a principal office and place of
business  in New York,  New York,  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. Each Paying Agent
shall be entitled to the rights, benefits and immunities of this Article IX.

            Any corporation into which any Paying 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 any Paying Agent shall be
a party, or any corporation succeeding to the corporate agency business of any
Paying Agent, shall continue to be the Paying Agent provided that such
corporation after the consummation of such merger, conversion, consolidation or
succession meets the eligibility requirements of this Section 9.13.

            Any Paying Agent may at any time resign by giving written notice of
resignation to the Trustee, the Certificate Administrator and to the Servicers;
provided that the Paying Agent has returned to the Certificate Account or
otherwise accounted, to the reasonable satisfaction of the Certificate
Administrator, for all amounts it has withdrawn from the Certificate Account.
The Certificate Administrator may, upon prior written approval of the Servicers,
at any time terminate the agency of any Paying Agent by giving written notice of
termination to such Paying Agent, the Trustee and the Servicers. Upon receiving
a notice of resignation or upon such a termination, or in case at any time any
Paying Agent shall cease to be eligible in accordance with the provisions of the
first paragraph of this Section 9.13, the Certificate Administrator may appoint,
upon prior written approval of the Servicers and the Trustee, a successor Paying
Agent, shall give written notice of such appointment to the Servicers and shall
mail notice of such appointment to all Certificateholders. Any successor Paying
Agent upon acceptance of its appointment hereunder shall become vested with all
rights, powers, duties and responsibilities of its predecessor hereunder, with
like effect as if originally named as Paying Agent. The Certificate
Administrator shall remain liable for any duties and obligations assumed by its
appointed Paying Agent.

     Section 9.14      Limitation of Liability. The Certificates are executed by
the Trustee,  not in its individual capacity but solely as Trustee of the Trust,
in the exercise of the powers and  authority  conferred and vested in it by this
Agreement.  Each of the  undertakings  and  agreements  made on the  part of the
Trustee in the  Certificates is made and intended not as a personal  undertaking
or  agreement by the Trustee but is made and intended for the purpose of binding
only the Trust.

     Section   9.15      Trustee   May  Enforce  Claims  Without  Possession  of
Certificates.  All  rights of action  and claims  under  this  Agreement  or the
Certificates  may  be  prosecuted  and  enforced  by  the  Trustee  without  the
possession  of  any  of  the  Certificates  or  the  production  thereof  in any
proceeding relating thereto,  and such preceding instituted by the Trustee shall
be  brought in its own name or in its  capacity  as  Trustee.  Any  recovery  of
judgment shall, after provision for the payment of the reasonable  compensation,
expenses,  disbursement and advances of the Trustee,  its agents and counsel, be
for the  ratable  benefit  of the  Certificateholders  in  respect of which such
judgment has been recovered.

     Section  9.16      Suits  for  Enforcement.  In case an Event of Default or
other  default by any  Servicer or the  Depositor  hereunder  shall occur and be
continuing,  the Trustee, in its discretion,  may proceed to protect and enforce
its rights and the rights of the Holders of Certificates under this Agreement by
a suit,  action or proceeding in equity or at law or otherwise,  whether for the
specific performance of any covenant or agreement contained in this Agreement or
in aid of the  execution  of any  power  granted  in this  Agreement  or for the
enforcement of any other legal, equitable or other remedy, as the Trustee, being
advised by counsel,  shall deem most effectual to protect and enforce any of the
rights of the Trustee and the Certificateholders.

     Section  9.17      Waiver of Bond Requirement.  Each of the Trustee and the
Certificate  Administrator  shall be  relieved  of,  and each  Certificateholder
hereby waives, any requirement of any jurisdiction in which the Trust Estate, or
any  part  thereof,   may  be  located  that  the  Trustee  or  the  Certificate
Administrator  post a bond or  other  surety  with  any  court,  agency  or body
whatsoever.

     Section   9.18      Waiver   of   Inventory,   Accounting   and   Appraisal
Requirement.  Each of the Trustee  and the  Certificate  Administrator  shall be
relieved of, and each  Certificateholder  hereby waives,  any requirement of any
jurisdiction in which the Trust Estate, or any part thereof, may be located that
the Trustee or the Certificate  Administrator file any inventory,  accounting or
appraisal of the Trust  Estate with any court,  agency or body at any time or in
any manner whatsoever.

                                    ARTICLE X

                                   TERMINATION

     Section 10.01     Termination upon Purchase by the Depositor or Liquidation
of All Mortgage Loans. Subject to Section 10.02, the respective  obligations and
responsibilities of the Depositor, the Servicers, the Certificate  Administrator
and the  Trustee  created  hereby  (other  than the  obligation  of  Certificate
Administrator  to make certain  payments to  Certificateholders  after the Final
Distribution  Date and to send certain  notices as hereinafter set forth and the
obligations of the Certificate  Administrator  pursuant to Sections  5.04(b) and
5.05(b))  shall  terminate  upon the  last  action  required  to be taken by the
Certificate  Administrator  on the  Final  Distribution  Date  pursuant  to this
Article  X  following  the  earlier  of (a) the  purchase  by Wells  Fargo (or a
successor Servicer thereto) of all Mortgage Loans and all REO Property remaining
in the  Trust  Estate  at a price  equal  to the sum of (i)  100% of the  Stated
Principal  Balance of each  Mortgage  Loan (other than any  Mortgage  Loan as to
which REO  Property  has been  acquired  and whose fair market value is included
pursuant  to  clause  (ii)  below)  and (ii) the fair  market  value of such REO
Property  (as  determined  by such  Servicer  as of the close of business on the
third  Business  Day next  preceding  the date  upon  which  notice  of any such
termination is furnished to Certificateholders  pursuant to the fourth paragraph
of this Article X), plus any Class Unpaid  Interest  Shortfall  for any Class of
Certificates as well as one month's  interest at the related  Mortgage  Interest
Rate on the  Stated  Principal  Balance of each  Mortgage  Loan  (including  any
Mortgage  Loan as to which  REO  Property  has been  acquired)  or (b) the final
payment or other  liquidation (or any advance with respect  thereto) of the last
Mortgage  Loan  remaining  in the  Trust  Estate or the  disposition  of all REO
Property.

            Regardless of the foregoing, 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 Wells Fargo (or a successor Servicer thereto) to
repurchase all of the Mortgage Loans is conditioned upon the Pool Stated
Principal Balance as of the Final Distribution Date being less than 5% of the
Cut-off Date Pool Principal Balance. If such right is exercised, the Custodian
shall, promptly following payment of the purchase price, release to Wells Fargo
or its designee the Mortgage Files 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 Certificate
Administrator for payment of the final distribution and for cancellation, shall
be given promptly by Wells Fargo (if exercising its right to purchase the assets
of the Trust) or by the Certificate Administrator (in any other case) by letter
to Certificateholders mailed not earlier than the 15th day and not later than
the 20th day of the month next preceding the month of such final distribution
specifying (1) 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 Certificate Administrator therein designated, (2) the
amount of any such final payment and (3) that the Record Date otherwise
applicable to such Distribution Date is not applicable, payments being made only
upon presentation and surrender of the Certificates at the office or agency of
the Certificate Administrator therein specified. If Wells Fargo is obligated to
give notice to Certificateholders as aforesaid, it shall give such notice to the
Trustee, any other Servicer, the Certificate Administrator and the Certificate
Registrar at the time such notice is given to Certificateholders. In the event
such notice is given by Wells Fargo, Wells Fargo shall deposit in the
Certificate Account on or before the Final Distribution Date in immediately
available funds an amount equal to the amount necessary to make the amount, if
any, on deposit in the Certificate Account on the Final Distribution Date equal
to the purchase price for the related assets of the Trust computed as above
provided together with a statement as to the amount to be distributed on each
Class of Certificates pursuant to the next succeeding paragraph.

            Upon presentation and surrender of the Certificates, the Certificate
Administrator shall cause to be distributed to Certificateholders of each Class,
to the extent that funds are sufficient therefor, in the order set forth in
Section 5.02 hereof, on the Final Distribution Date and in proportion to their
respective Percentage Interests, with respect to Certificateholders of the same
Class, an amount equal to (I) as to each Class of Certificates, the Class
Certificate Balance thereof plus accrued interest thereon in the case of an
interest bearing Certificate and (II) as to the Class 1-A-R Certificates, the
amounts, if any, which remain on deposit in the Upper-Tier Certificate Account
(other than the amounts retained to meet claims) after application pursuant to
clause (I) above.

            If all of the Certificateholders do not surrender their Certificates
for final payment and cancellation on or before the Final Distribution Date, the
Certificate Administrator shall on such date cause all funds in the Certificate
Account not distributed in final distribution to Certificateholders to continue
to be held by the Certificate Administrator in an Eligible Account for the
benefit of such Certificateholders and the Servicers (if it exercised its right
to purchase the assets of the Trust Estate) or the Certificate Administrator (in
any other case) shall give a second written notice to the remaining
Certificateholders to surrender their Certificates for cancellation and receive
the final distribution with respect thereto. If within one year after the second
notice all the Certificates shall not have been surrendered for cancellation,
the Certificate Administrator 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 Eligible Account.

     Section 10.02      Additional Termination Requirements.

     (a) If Wells Fargo  exercises  its  purchase  option as provided in Section
10.01, the Trust shall be terminated in accordance with the following additional
requirements, unless the Certificate Administrator and the Trustee have received
an Opinion of Counsel to the effect that the failure of the Trust to comply with
the  requirements of this Section 10.02 will not (i) result in the imposition of
taxes on  "prohibited  transactions"  of the Trust as defined in Section 860F of
the Code,  or (ii) cause the Trust  Estate to fail to  qualify  as two  separate
REMICs at any time that any Certificates are outstanding:

          (i) within 90 days prior to the Final  Distribution  Date set forth in
     the notice given by Wells Fargo under Section 10.01, the Trustee shall sell
     all of the assets of the Trust Estate to Wells Fargo for cash; and

          (ii) the notice given by Wells Fargo or the Certificate  Administrator
     pursuant to Section  10.01 shall provide that such notice  constitutes  the
     adopting of a plan of complete  liquidation of the Upper-Tier REMIC and the
     Lower-Tier REMIC as of the date of such notice (or, if earlier, the date on
     which  such  notice  was  mailed to  Certificateholders).  The  Certificate
     Administrator  shall also  specify such date in the final tax return of the
     Upper-Tier REMIC and Lower-Tier REMIC.

     (b) By their acceptance of the Residual  Certificates,  the Holders thereof
hereby agree to take such other action in connection  with such plan of complete
liquidation as may be reasonably requested by the Depositor,  the Trustee or the
Certificate Administrator.

                                     ARTICLE XI

                            MISCELLANEOUS PROVISIONS

     Section  11.01     Amendment.  This  Agreement  may be amended from time to
time by the Depositor,  the Servicers,  the  Certificate  Administrator  and the
Trustee  without  the  consent  of any of the  Certificateholders,  but if  such
amendment would adversely affect or add to the duties of the Custodian, with the
consent of the Custodian  (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 of this Agreement,  any amendment to this Agreement or the
related Prospectus Supplement,  (iii) to modify,  eliminate or add to any of its
provisions to such extent as shall be necessary to maintain the qualification of
the Upper-Tier  REMIC and the  Lower-Tier  REMIC as REMICs at all times that any
Certificates  are outstanding or to avoid or minimize the risk of the imposition
of any tax on either  REMIC  pursuant to the Code that would be a claim  against
the  Trust  Estate,   provided   that  (a)  the  Trustee  and  the   Certificate
Administrator have 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 (a) such change shall
not, as  evidenced  by an Opinion of Counsel,  adversely  affect in any material
respect the  interests  of any  Certificateholder  and (b) such change shall not
adversely affect the then-current rating of the Senior  Certificates,  the Class
B-1 Certificates,  the Class B-2 Certificates,  the Class B-3 Certificates,  the
Class B-4  Certificates  or the Class B-5  Certificates as evidenced by a letter
from any Rating Agency rating such Certificates to such effect,  and (v) to make
any other  provisions  with respect to matters or questions  arising  under this
Agreement which shall not be materially inconsistent with the provisions of this
Agreement,  provided that such action  pursuant to this clause (v) shall not, as
evidenced by an Opinion of Counsel, adversely affect in any material respect the
interests of any  Certificateholder,  provided that the  amendment  shall not be
deemed  to  adversely  affect  in any  material  respect  the  interests  of the
Certificateholders and no Opinion of Counsel to that effect shall be required if
the Person  requesting  the  amendment  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 may also be amended from time to time by the
Depositor, the Servicers, the Certificate Administrator and the Trustee, with
the consent of the Holders of Certificates of each Class of Certificates which
is affected by such amendment, evidencing, as to each such Class of
Certificates, Percentage Interests aggregating not less than 66-2/3%, for the
purpose of adding any provisions to or changing in any manner or eliminating any
of the provisions of this Agreement or of modifying in any manner the rights of
the Holders of such Certificates; provided, however, that no such amendment
shall (A) reduce in any manner the amount of, or delay the timing of,
collections of payments on Mortgage Loans or distributions which are required to
be made on any Certificate without the consent of the Holder of such Certificate
or (B) reduce the aforesaid percentage required to consent to any such
amendment, without the consent of the Holders of all Certificates then
Outstanding.

            Prior to the solicitation of consent of Certificateholders in
connection with any such amendment, the party seeking such amendment shall
furnish the Trustee and the Certificate Administrator with an Opinion of Counsel
stating whether such amendment would adversely affect the qualification of the
Upper-Tier REMIC or the Lower-Tier REMIC as REMICs and notice of the conclusion
expressed in such Opinion of Counsel shall be included with any such
solicitation. An amendment made with the consent of all Certificateholders and
executed in accordance with this Section 11.01 shall be permitted or authorized
by this Agreement notwithstanding that such Opinion of Counsel may conclude that
such amendment would adversely affect the qualification of the Upper-Tier REMIC
or the Lower-Tier REMIC as REMICs.

            Prior to the execution of any amendment to this Agreement, the
Trustee and the Certificate Administrator shall be entitled to receive and rely
upon an Opinion of Counsel (which shall not be an expense of the Trust Estate)
stating that the execution of such amendment is authorized and permitted by this
Agreement. Each of the Certificate Administrator and the Trustee may, but shall
not be obligated to, enter into any such amendment which adversely affects their
respective own rights, duties and immunities under this Agreement.

            Promptly after the execution of any such amendment or consent the
Certificate Administrator shall furnish written notification of the substance of
or a copy of such amendment to each Certificateholder and to each Rating Agency.

            It shall not be necessary for the consent of Certificateholders
under this Section 11.01 to approve the particular form of any proposed
amendment, but it shall be sufficient if such consent shall approve the
substance thereof. The manner of obtaining such consents and of evidencing the
authorization of the execution thereof by Certificateholders shall be subject to
such reasonable requirements as the Trustee may prescribe.

     Section  11.02     Recordation  of Agreement.  This Agreement is subject to
recordation in all appropriate  public offices for real property  records in all
the  counties  or other  comparable  jurisdictions  in  which  any or all of the
properties  subject to the Mortgages are situated,  and in any other appropriate
public  recording  office or elsewhere,  such  recordation to be effected by the
Servicer servicing the related Mortgage Loans and at its expense on direction by
the Certificate  Administrator,  who will act solely at the direction of Holders
of Certificates evidencing not less than 50% of all Voting Rights, but only upon
receipt of an Opinion of Counsel to the effect that such recordation  materially
and beneficially affects the interests of  Certificateholders  (which Opinion of
Counsel shall not be at the expense of the Certificate Administrator).

            For the purpose of facilitating the recordation of this Agreement as
herein provided and for other purposes, this Agreement may be executed
simultaneously in any number of counterparts, each of which counterparts shall
be deemed to be an original, and such counterparts shall constitute but one and
the same instrument.

     Section 11.03     Limitation on Rights of Certificateholders.  The death or
incapacity  of  any  Certificateholder  shall  not  operate  to  terminate  this
Agreement   or  the  Trust,   nor   entitle   such   Certificateholder's   legal
representatives  or  heirs  to claim an  accounting  or to take  any  action  or
commence any proceeding in any court for a partition or winding up of the Trust,
nor otherwise  affect the rights,  obligations  and  liabilities  of the parties
hereto or any of them.

            No Certificateholder shall have any right to vote (except as
provided herein) or in any manner otherwise control the operation and management
of the Trust, 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 shall have any right by virtue or by availing
itself of any provisions 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 Certificate Administrator
and the Trustee a written notice of default and of the continuance thereof, as
provided herein, and unless also the Holders of Certificates evidencing
Percentage Interests aggregating not less than 25% of each Class of Certificates
affected thereby shall have made written request upon the Trustee to institute
such action, suit or proceeding in its own name as Trustee hereunder and shall
have offered to the Trustee such reasonable indemnity as it may require against
the costs, expenses and liabilities to be incurred therein or thereby, and the
Trustee, for 60 days after its receipt of such notice, request and offer of
indemnity, shall have neglected or refused to institute any such action, suit or
proceeding; it being understood and intended, and being expressly covenanted by
each Certificateholder with every other Certificateholder and the Trustee, that
no one or more Holders of Certificates shall have any right in any manner
whatever by virtue or by availing itself or themselves of any provisions of this
Agreement to affect, disturb or prejudice the rights of the Holders of any other
of the 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 equal, ratable and common benefit of
all Certificateholders. For the protection and enforcement of the provisions of
this Section 11.03, each and every Certificateholder and the Trustee shall be
entitled to such relief as can be given either at law or in equity.

     Section  11.04     Governing  Law. THIS AGREEMENT  SHALL BE GOVERNED BY AND
CONSTRUED  IN  ACCORDANCE  WITH  THE  LAWS OF THE  STATE  OF NEW  YORK,  WITHOUT
APPLICATION OF THE CONFLICTS OF LAWS PROVISIONS  THEREOF,  AND THE  OBLIGATIONS,
RIGHTS AND REMEDIES OF THE PARTIES  HEREUNDER  SHALL BE DETERMINED IN ACCORDANCE
WITH SUCH LAWS.

     Section 11.05.....Notices.  All demands, notices, instructions, directions,
requests  and  communications  required to be  delivered  hereunder  shall be in
writing and shall be deemed to have been duly given if  personally  delivered at
or mailed by certified mail, return receipt requested, to (a) in the case of the
Depositor,   Wachovia   Mortgage  Loan  Trust,   LLC,  301  S.  College  Street,
NC5578-Suite G, Charlotte, NC 28288-5578,  Attention:  General Counsel and Chief
Financial Officer, (b) in the case of the Wells Fargo, Wells Fargo Bank, N.A., 1
Home  Campus,  Des  Moines,  Iowa  50328-0001,  Attention:  John B.  Brown,  MAC
X2401-042,  with a copy to Wells Fargo Bank,  N.A., 1 Home  Campus,  Des Moines,
Iowa 50328-0001,  Attention:  General Counsel, MAC X2401-06T, (c) in the case of
National City, National City Mortgage,  3232 Newmark Dr., Miamisburg,  OH 45342,
Attention:   _______,   WMLT  2005-A,   (d)  in  the  case  of  the  Certificate
Administrator, at its Corporate Trust Office, (e) in the case of the Trustee, at
its Corporate Trust Office, (f) in the case of Fitch,  Fitch Ratings,  One State
Street Plaza, New York, New York 10004, Attn:  Residential Mortgage Surveillance
Group,  and (g) in the case of S&P,  Standard  and  Poor's,  a  division  of The
McGraw-Hill  Companies,  Inc., 55 Water Street,  New York, New York 10041, Attn:
Mortgage  Surveillance  Group;  or, as to each party,  at such other  address as
shall be designated by such party in a written  notice to each other party.  Any
notice required or permitted to be mailed to a Certificateholder  shall be given
by first class mail, postage prepaid,  at the address of such Holder as shown in
the  Certificate  Register.  Any notice so mailed within the time  prescribed in
this Agreement shall be conclusively  presumed to have been duly given,  whether
or not the Certificateholder receives such notice.

     Section  11.06.....Severability  of  Provisions.  If any one or more of the
covenants,  agreements,  provisions or terms of this Agreement  shall be for any
reason whatsoever held invalid, then such covenants,  agreements,  provisions or
terms  shall be  deemed  severable  from the  remaining  covenants,  agreements,
provisions or terms of this Agreement and shall in no way affect the validity or
enforceability  of the other provisions of this Agreement or of the Certificates
or the rights of the Holders thereof.

     Section 11.07.....Certificates Nonassessable and Fully Paid. It is intended
that  Certificateholders  shall not be personally  liable for obligations of the
Trust, that the beneficial  ownership interests  represented by the Certificates
shall be nonassessable for any losses or expenses of the Trust or for any reason
whatsoever, and that Certificates upon execution,  countersignature and delivery
thereof by the Trustee  pursuant to Section  6.01 are and shall be deemed  fully
paid.

     Section  11.08.....Access  to List of  Certificateholders.  The Certificate
Registrar  will  furnish  or  cause  to be  furnished  to the  Trustee  and  the
Certificate Administrator,  within 15 days after the receipt of a request by the
Trustee and/or the Certificate Administrator in writing, a list, in such form as
the Trustee and/or the Certificate  Administrator may reasonably require, of the
names and addresses of the  Certificateholders as of the most recent Record Date
for payment of distributions to Certificateholders.

            If three or more Certificateholders 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 after 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 a date more than 90 days prior to the date of
receipt of such applicants' request, the Trustee shall promptly request from the
Certificate Registrar a current list as provided above, and shall afford such
applicants access to such list promptly upon receipt.

            Every Certificateholder, by receiving and holding such list, agrees
with the Certificate Registrar, the Certificate Administrator and the Trustee
that neither the Certificate Registrar, the Trustee nor the Certificate
Administrator shall be held accountable by reason of the disclosure of any such
information as to the names and addresses of the Certificateholders hereunder,
regardless of the source from which such information was derived.

<PAGE>

            IN WITNESS WHEREOF, the Depositor, the Servicers, the Certificate
Administrator and the Trustee have caused this Agreement to be duly executed by
their respective officers thereunto duly authorized to be hereunto affixed, all
as of the date first above written.

                                    WACHOVIA MORTGAGE LOAN TRUST, LLC,
                                  as Depositor

                                    By:
                                       ----------------------------------------
                                       Name:
                                       Title:

                             WELLS FARGO BANK, N.A.,
                                  as a Servicer

                                    By:
                                       ----------------------------------------
                                       Name:
                                       Title:

                                    NATIONAL CITY MORTGAGE CO.,
                                  as a Servicer

                                    By:
                                       ----------------------------------------
                                       Name:
                                       Title:

                                    WACHOVIA BANK, NATIONAL ASSOCIATION,
                                       as Certificate Administrator

                                    By:
                                       ----------------------------------------
                                       Name:
                                       Title:

                                    U.S. BANK NATIONAL ASSOCIATION as Trustee

                                    By:
                                       ----------------------------------------
                                       Name:
                                       Title:

<PAGE>

STATE OF NEW YORK.      )
                        )     ss.:
COUNTY OF   NEW YORK    )
                        )

            On the __th day of August, 2005, before me, a notary public in and
for the State of New York, personally appeared _________________, known to me
who, being by me duly sworn, did depose and say that s/he is a ________________
of U.S. Bank National Association, a New York banking corporation, 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 such corporation.

                                         ---------------------------------------
                                                           Notary Public

[Notarial Seal]

My commission expires ____________.

<PAGE>

STATE OF DELAWARE.      )
      ______......            )     ss.:
COUNTY OF __......            )
      ______......            )

            On the __th day of August, 2005, before me, a notary public in and
for the State of Delaware, personally appeared ___________________, known to me
who, being by me duly sworn, did depose and say that s/he is a
___________________ of Wachovia Mortgage Loan Trust, LLC, a Delaware limited
liability company, 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
such corporation.

                                         ---------------------------------------
                                                           Notary Public

[Notarial Seal]

My commission expires ____________.

<PAGE>

STATE OF _________            )
      ______......            )     ss.:
COUNTY OF __......            )
      ______......            )
      ______On the __th day of August, 2005, 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 is a
___________________ of Wells Fargo Bank, N.A., 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 such corporation.

                                         ---------------------------------------
                                                           Notary Public

[Notarial Seal]

My commission expires ____________.

<PAGE>

STATE OF ____________         )
      ______......            )     ss.:
COUNTY OF __......            )
      ______......            )
      ______On the __th day of August, 2005, 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 is a
___________________ of National City Mortgage Co., a _______ corporation, 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 such corporation.

                                         ---------------------------------------
                                                           Notary Public

[Notarial Seal]

My commission expires ____________.

<PAGE>

STATE OF NORTH CAROLINA )
      ______......            )     ss.:
COUNTY OF __......            )
      ______......            )
      ______On the __th day of August, 2005, before me, a notary public in and
for the State of North Carolina, personally appeared ___________________, known
to me who, being by me duly sworn, did depose and say that s/he is a
___________________ of Wachovia Bank, National Association, 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 such
corporation.

                                         ---------------------------------------
                                                           Notary Public

[Notarial Seal]

My commission expires ____________.

<PAGE>

                                                                      APPENDIX 1

  CALCULATION OF UNCERTIFICATED LOWER-TIER REGULAR INTEREST Y PRINCIPAL
REDUCTION AMOUNTS

      Uncertificated Lower-Tier Regular Interest Y Principal Reduction Amounts:
For any Distribution Date the amounts by which the Uncertificated Principal
Balances of Uncertificated Lower-Tier Regular Interests Y-1, Y-2, Y-3 and Y-4,
respectively, will be reduced on such Distribution Date by the allocation of
Realized Losses and the distribution of principal, determined as follows:

      First, for each of Loan Group 1, Loan Group 2, Loan Group 3 and Loan Group
4, determine the Net WAC for the applicable Loan Group for distributions of
interest that will be made on the next succeeding Distribution Date (the "Group
Interest Rate"). The Uncertificated Lower-Tier Regular Interest Y Principal
Reduction Amount for Uncertificated Lower-Tier Regular Interests Y-1, Y-2, Y-3
and Y-4 will be determined pursuant to the "Generic solution for the
Uncertificated Lower-Tier Regular Interest Y Principal Reduction Amounts" set
forth below (the "Generic Solution") by making identifications among the actual
Loan Groups and their related Uncertificated Lower-Tier Regular Interests and
the Net WAC and the Groups named in the Generic Solution and their related
Uncertificated Lower-Tier Regular Interests as follows:

A. Determine which Group has the lowest Group Interest Rate. That Group will be
identified with Group AA and the Uncertificated Lower-Tier Regular Interests
related to that Group will be respectively identified with Uncertificated
Lower-Tier Regular Interests Y-AA and Z-AA. The Group Interest Rate for that
Group will be identified with J%. If two or more Groups have the lowest Group
Interest Rate pick one for this purpose, subject to the restriction that each
Group may be picked only once in the course of any such selections pursuant to
paragraphs A through D of this definition.

B. Determine which Group has the second lowest Group Interest Rate. That Group
will be identified with Group BB and the Uncertificated Lower-Tier Regular
Interests related to that Group will be respectively identified with
Uncertificated Lower-Tier Regular Interests Y-BB and Z-BB. The Group Interest
Rate for that Group will be identified with K%. If two or more Groups have the
second lowest Group Interest Rate pick one for this purpose, subject to the
restriction that each Group may be picked only once in the course of any such
selections pursuant to paragraphs A through D of this definition.

C. Determine which Group has the third lowest Group Interest Rate. That Group
will be identified with Group CC and the Uncertificated Lower-Tier Regular
Interests related to that Group will be respectively identified with
Uncertificated Lower-Tier Regular Interests Y-CC and Z-CC. The Group Interest
Rate for that Group will be identified with L%. If two or more Groups have the
third lowest Group Interest Rate pick one for this purpose, subject to the
restriction that each Group may be picked only once in the course of any such
selections pursuant to paragraphs A through D of this definition.

D. Determine which Group has the fourth lowest Group Interest Rate. That Group
will be identified with Group DD and the Uncertificated Lower-Tier Regular
Interests related to that Group will be respectively identified with
Uncertificated Lower-Tier Regular Interests Y-DD and Z-DD. The Group Interest
Rate for that Group will be identified with M%. If two or more Groups have the
fourth lowest Group Interest Rate pick one for this purpose, subject to the
restriction that each Group may be picked only once in the course of any such
selections pursuant to paragraphs A through D of this definition.

Second, apply the Generic Solution set forth below to determine the
Uncertificated Lower-Tier Regular Interest Y Principal Reduction Amounts for the
Distribution Date using the identifications made above.

      ______Generic Solution for the Uncertificated Lower-Tier Regular Interest
Y Principal Reduction Amounts: For any Distribution Date, the amounts by which
the Uncertificated Principal Balances of Uncertificated Lower-Tier Regular
Interests Y-AA, Y-BB, Y-CC and Y-DD, respectively, will be reduced on such
Distribution Date by the allocation of Realized Losses and the distribution of
principal, determined as follows:

For purposes of the succeeding formulas the following symbols shall have the
meanings set forth below:

J% = the Net WAC for Group AA for interest to be distributed on the next
succeeding Distribution Date.

K% = the Net WAC for Group BB for interest to be distributed on the next
succeeding Distribution Date.

L% = the Net WAC for Group CC for interest to be distributed on the next
succeeding Distribution Date.

M% = the Net WAC for Group DD for interest to be distributed on the next
succeeding Distribution Date.

For purposes of the succeeding definitions and formulas, it is required that
J%<=K%<=L%<=M%.

PJB   = the Group AA Subordinate Percentage after the allocation of Realized
      Losses and distributions of principal on such Distribution Date.

PKB   = the Group BB Subordinate Percentage after the allocation of Realized
      Losses and distributions of principal on such Distribution Date.

PLB   = the Group CC Subordinate Percentage after the allocation of Realized
      Losses and distributions of principal on such Distribution Date.

PMB   = the Group DD Subordinate Percentage after the allocation of Realized
      Losses and distributions of principal on such Distribution Date.

R =   the Class B Pass-Through Rate
    = ______(J%PJB + K%PKB + L%PLB + M%PMB)/(PJB + PKB + PLB + PMB)

R11   = the weighted average of the Net WACs for Group AA, Group BB, Group CC
      and Group DD after giving effect to the allocation of Realized Losses and
      distributions of principal to be made on such Distribution Date
           =
    {J% (Pj - (DELTA)Pj) + K% (Pk - (DELTA)Pk) + L% (Pl - (DELTA)Pl) + M% (Pm -
 (DELTA)Pm)}/
    (Pj - (DELTA)Pj + Pk - (DELTA)Pk + Pl - (DELTA)Pl + Pm - (DELTA)Pm)

R21   = the weighted average of the Net WACs for Group AA, Group BB and Group CC
      after giving effect to the allocation of Realized Losses and distributions
      of principal to be made on such Distribution Date
     = _____{J% (Pj - (DELTA)Pj) + K% (Pk - (DELTA)Pk) + L% (Pl - (DELTA)Pl)
}/(Pj - (DELTA)Pj + Pk - (DELTA)Pk + Pl - (DELTA)Pl )

R22 = the Net WAC for Group DD
     = _____{ M% (Pm - (DELTA)Pm)}/( Pm - (DELTA)Pm )

R31   = the weighted average of the Net WACs for Group AA and Group BB after
      giving effect to the allocation of Realized Losses and distributions of
      principal to be made on such Distribution Date
     = _____{(J% (Pj - (DELTA)Pj) + K% (Pk - (DELTA)Pk) }/(Pj - (DELTA)Pj + Pk -
 (DELTA)Pk)

R32   = the weighted average of the Net WACs for Group CC and Group DD after
      giving effect to the allocation of Realized Losses and distributions of
      principal to be made on such Distribution Date
     = _____{ L% (Pl - (DELTA)Pl) + M% (Pm - (DELTA)Pm)}/( Pl - (DELTA)Pl + Pm -
 (DELTA)Pm)

R41   = the Net WAC for Group AA after giving effect to the allocation of
      Realized Losses and distributions of principal to be made on such
      Distribution Date
    = ______J%

R42   = the weighted average of the Net WACs for Group BB, Group CC and Group DD
      after giving effect to the allocation of Realized Losses and distributions
      of principal to be made on such Distribution Date
           = .....{K% (Pk - (DELTA)Pk) + L% (Pl - (DELTA)Pl) + M% (Pm -
(DELTA)Pm)}/
                  ( Pk - (DELTA)Pk + Pl - (DELTA)Pl + Pm - (DELTA)Pm )

r11   = the weighted average of the Uncertificated Pass-Through Rates for
      Uncertificated Lower-Tier Regular Interests Y-AA, Y-BB, Y-CC and Y-DD
     = _____(J% Yj + K% Yk + L% Yl + M% Ym )/(Yj + Yk + Yl + Ym )

r21 = the weighted average of the Uncertificated Pass-Through Rates for
 Uncertificated
      Lower-Tier Regular Interests Y-AA, Y-BB and Y-CC
     = _____(J% Yj + K% Yk + L% Yl )/(Yj + Yk + Yl )

r22 = the Uncertificated Pass-Through Rate for Uncertificated Lower-Tier Regular
 Interest
      Y-DD
     = _____( M% Ym)/( Ym )

r31 = the weighted average of the Uncertificated Pass-Through Rates for
 Uncertificated
      Lower-Tier Regular Interests Y-AA and Y-BB
     = _____(J% Yj + K% Yk )/(Yj + Yk )

r32 = the weighted average of the Uncertificated Pass-Through Rates for
 Uncertificated
      Lower-Tier Regular Interests Y-CC and Y-DD
     = _____( L% Yl + M% Ym )/( Yl + Ym)

r41 = the Uncertificated Pass-Through Rate for Uncertificated Lower-Tier Regular
 Interest
      Y-AA
     =      J%

r42 = the weighted average of the Uncertificated Pass-Through Rates for
 Uncertificated
      Lower-Tier Regular Interests Y-BB, Y-CC and Y-DD
     = _____(K%  Yk + L% Yl + M% Ym)/(Yk + Yl + Ym)

Yj    = the Uncertificated Principal Balance of Uncertificated Lower-Tier
      Regular Interest Y-AA after distributions on the prior Distribution Date.

Yk    = the Uncertificated Principal Balance of Uncertificated Lower-Tier
      Regular Interest Y-BB after distributions on the prior Distribution Date.

Yl    = the Uncertificated Principal Balance of Uncertificated Lower-Tier
      Regular Interest Y-CC after distributions on the prior Distribution Date.

Ym    = the Uncertificated Principal Balance of Uncertificated Lower-Tier
      Regular Interest Y-DD after distributions on the prior Distribution Date.

(DELTA)Yj =       the Uncertificated Lower-Tier Regular Interest Y-AA Principal
 Reduction Amount.

(DELTA)Yk =       the Uncertificated Lower-Tier Regular Interest Y-BB Principal
Reduction Amount.

(DELTA)Yl =       the Uncertificated Lower-Tier Regular Interest Y-CC Principal
Reduction Amount.

(DELTA)Ym =       the Uncertificated Lower-Tier Regular Interest Y-DD Principal
Reduction Amount.

Zj    = the Uncertificated Principal Balance of Uncertificated Lower-Tier
      Regular Interest Z-AA after distributions on the prior Distribution Date.

Zk    = the Uncertificated Principal Balance of Uncertificated Lower-Tier
      Regular Interest Z-BB after distributions on the prior Distribution Date.

Zl    = the Uncertificated Principal Balance of Uncertificated Lower-Tier
      Regular Interest Z-CC after distributions on the prior Distribution Date.

Zm    = the Uncertificated Principal Balance of Uncertificated Lower-Tier
      Regular Interest Z-DD after distributions on the prior Distribution Date.

(DELTA)Zj =       the Uncertificated Lower-Tier Regular Interest Z-AA Principal
Reduction Amount.

(DELTA)Zk =       the Uncertificated Lower-Tier Regular Interest Z-BB Principal
Reduction Amount.

(DELTA)Zl =       the Uncertificated Lower-Tier Regular Interest Z-CC Principal
Reduction Amount.

(DELTA)Zm =       the Uncertificated Lower-Tier Regular Interest Z-DD Principal
Reduction Amount.

Pj    = the aggregate Uncertificated Principal Balance of Uncertificated
      Lower-Tier Regular Interests Y-AA and Z-AA after distributions on the
      prior Distribution Date.
    = Yj + Zj

Pk    = the aggregate Uncertificated Principal Balance of Uncertificated
      Lower-Tier Regular Interests Y-BB and Z-BB after distributions on the
      prior Distribution Date.
    = Yk + Zk

Pl    = the aggregate Uncertificated Principal Balance of Uncertificated
      Lower-Tier Regular Interests Y-CC and Z-CC after distributions on the
      prior Distribution Date.
    = Yl + Zl =

Pm    = the aggregate Uncertificated Principal Balance of Uncertificated
      Lower-Tier Regular Interests Y-DD and Z-DD after distributions on the
      prior Distribution Date.
    = Ym + Zm

(DELTA)Pj = the aggregate amount of principal reduction occurring with respect
      to Mortgage Loans in Loan Group AA from Realized Losses or payments of
      principal to be allocated on such Distribution Date net of any such
      amounts allocated to the Class 1-A-R Certificates in respect of Component
      I thereof.
      = the aggregate of the Uncertificated Lower-Tier Regular Interest Y-AA
      Principal Reduction Amount and the Uncertificated Lower-Tier Regular
      Interest Z-AA Principal Reduction Amount.
      =     (DELTA)Yj + (DELTA)Zj

(DELTA)Pk = the aggregate amount of principal reduction occurring with respect
      to Mortgage Loans in Loan Group BB from Realized Losses or payments of
      principal to be allocated on such Distribution Date net of any such
      amounts allocated to the Class 1-A-R Certificates in respect of Component
      I thereof.

      = the aggregate of the Uncertificated Lower-Tier Regular Interest Y-BB
      Principal Reduction Amount and the Uncertificated Lower-Tier Regular
      Interest Z-BB Principal Reduction Amount.
      =     (DELTA)Yk + (DELTA)Zk

(DELTA)Pl= the aggregate amount of principal reduction occurring with respect to
      Mortgage Loans in Loan Group CC from Realized Losses or payments of
      principal to be allocated on such Distribution Date net of any such
      amounts allocated to the Class 1-A-R Certificates in respect of Component
      I thereof.
     = the aggregate of the Uncertificated Lower-Tier Regular Interest Y-CC
      Principal Reduction Amount and the Uncertificated Lower-Tier Regular
      Interest Z-CC Principal Reduction Amount.
      =     (DELTA)Yl + (DELTA)Zl

(DELTA)Pm = the aggregate amount of principal reduction occurring with respect
      to Mortgage Loans in Loan Group DD from Realized Losses or payments of
      principal to be allocated on such Distribution Date net of any such
      amounts allocated to the Class 1-A-R Certificate in respect of Component I
      thereof.
      = the aggregate of the Uncertificated Lower-Tier Regular Interest Y-DD
      Principal Reduction Amount and the Uncertificated Lower-Tier Regular
      Interest Z-DD Principal Reduction Amount.
      =     (DELTA)Ym + (DELTA)Zm

(alpha) = .0005

(gamma)1 = (R - R11)/(R12 - R). If R=>M%, (gamma)1 is a non-negative number
      unless its denominator is zero, in which event it is undefined.

(gamma)2 = (R - R21)/(R22 - R). If R=>L%, (gamma)2 is a non-negative number
      unless its denominator is zero, in which event it is undefined.

(gamma)3 = (R - R31)/(R32 - R). If R=>K%, (gamma)3 is a non-negative number
      unless its denominator is zero, in which event it is undefined.

(gamma)4 = (R - R41)/(R42 - R). If R<K%, (gamma)4 is a non-negative number
      unless its denominator is zero, in which event it is undefined.

If    (gamma)1 is undefined, (DELTA)Yj = Yj, (DELTA)Yk = Yk, (DELTA)Yl = Yl,
      (DELTA)Ym = Ym and (DELTA)Yn = (Yn/Pn)(DELTA)Pn.

If    (gamma)4 is zero, (DELTA)Yj = (Yj/Pj)(DELTA)Pj, (DELTA)Yk = Yk, (DELTA)Yl
      = Yl, (DELTA)Ym = Ym and (DELTA)Yn = Yn.

In    the remaining situations, (DELTA)Yj, (DELTA)Yk, (DELTA)Yl, (DELTA)Ym and
      (DELTA)Yn shall be defined as follows:

I. If R=>M%, make the following additional definitions:

(delta)1Yj =      0,                                              if R11< r11;

      (R11- r11)( Yj + Yk + Yl + Ym)Yj/ {(R11 - J%)Yj + (R11 - K%)Yk + (R11 -
            L%)Yl +
            (R11 - M%)Ym },                            if R11=> r11 and R11=>M%;

      (R11- r11)( Yj + Yk + Yl + Ym )Yj/
            {(R11 - J%)Yj + (R11 - K%)Yk + (R11 - L%)Yl },     if R11=> r11 and
      M%>R11=>L%;

      (R11- r11)( Yj + Yk + Yl + Ym )Yj/
            {(R11 - J%)Yj + (R11 - K%)Yk },                    if R11=> r11 and
      L%>R11=>K%; and

      (R11- r11)( Yj + Yk + Yl + Ym )/(R11 - J%),               if R11=> r11 and
      K%>R11=>J%.

(delta)1Yk =      0,                                    if R11< r11 and R11=>K%;
      (R11- r11)( Yj + Yk + Yl + Ym)Yk/
         { (R11 - K%)Yk + (R11 - L%)Yl + (R11 - M%)Ym }, if R11< r11 and R11<K%;

      (R11- r11)( Yj + Yk + Yl + Ym )Yk/ {(R11 - J%)Yj + (R11 - K%)Yk + (R11 -
            L%)Yl +
            (R11 - M%)Ym },                            if R11=> r11 and R11=>M%;

      (R11- r11)( Yj + Yk + Yl + Ym )Yk/
            {(R11 - J%)Yj + (R11 - K%)Yk + (R11 - L%)Yl },     if R11=> r11 and
      M%>R11=>L%;

  (R11- r11)( Yj + Yk + Yl + Ym )Yk/{(R11 - J%)Yj + (R11 - K%)Yk }, if R11=> r11
      and L%>R11=>K%; and

      0,                                              if R11=> r11 and R11<K%.

(delta)1Yl =      0,                                    if R11< r11 and R11=>L%;

      (R11- r11)( Yj + Yk + Yl + Ym)Yl/
            { (R11 - L%)Yl + (R11 - M%)Ym },                   if R11< r11 and
      K%<=R11<L%;

      (R11- r11)( Yj + Yk + Yl + Ym)Yl/
         { (R11 - K%)Yk + (R11 - L%)Yl + (R11 - M%)Ym }, if R11< r11 and R11<K%;

      (R11- r11)( Yj + Yk + Yl + Ym)Yl/ {(R11 - J%)Yj + (R11 - K%)Yk + (R11 -
            L%)Yl +
            (R11 - M%)Ym },                            if R11=> r11 and R11=>M%;

      (R11- r11)( Yj + Yk + Yl + Ym )Yl/
            {(R11 - J%)Yj + (R11 - K%)Yk + (R11 - L%)Yl },      if R11=> r11 and
      M%>R11=>L%;

      0,                                              if R11=> r11 and R11<L%.

(delta)1Ym =      0,                                    if R11< r11 and R11=>M%;

      (R11- r11)( Yj + Yk + Yl + Ym)/(R11 - M%),                 if R11< r11 and
      L%<=R11<M%;

      (R11- r11)( Yj + Yk + Yl + Ym)Ym/
            { (R11 - L%)Yl + (R11 - M%)Ym },                    if R11< r11 and
      K%<=R11<L%;

      (R11- r11)( Yj + Yk + Yl + Ym)Ym/
         { (R11 - K%)Yk + (R11 - L%)Yl + (R11 - M%)Ym }, if R11< r11 and R11<K%;

      (R11- r11)( Yj + Yk + Yl + Ym)Ym/ {(R11 - J%)Yj + (R11 - K%)Yk + (R11 -
            L%)Yl +
            (R11 - M%)Ym },                            if R11=> r11 and R11=>M%;

      0,                                              if R11=> r11 and R11<M%.

(delta)1Yj, (delta)1Yk, (delta)1Yl and (delta)1Ym are numbers respectively
      between Yj, Yk, Yl and Ym and 0 such that
            {J%(Yj - (delta)1Yj ) + K%( Yk.- (delta)1Yk) + L%( Yl.- (delta)1Yl)
      + M%( Ym.- (delta)1Ym) }/
            (Yj - (delta)1Yj + Yk.- (delta)1Yk + Yl.- (delta)1Yl + Ym.-
            (delta)1Ym) = R11.

Y11 =      Yj - (delta)1Yj + Yk.- (delta)1Yk + Yl.- (delta)1Yl + Ym.- (delta)1Ym

P11 =       Pj + Pk + Pl + Pm.

Z11 =       Zj + Zk + Zl + Zm.

AY11 = Yj - (delta)1Yj + AYk.- (delta)1Yk + AYl.- (delta)1Yl + AYm.- (delta)1Ym.

AP11 =      APj + APk + APl + APm.

AZ11 =      AZj + AZk + AZl + AZm.

1. If Yn - (alpha)(Pn - (DELTA)Pn) => 0, Y11- (alpha)(P11 - (DELTA)P11) => 0,
   and (gamma)1(P11 - (DELTA)P11) < (Pn - (DELTA)Pn), then (DELTA)Yn = Yn -
   (alpha)(gamma)1(P11 - (DELTA)P11) and (DELTA)Y11 = Y11 - (alpha)(P11 -
   (DELTA)P11).
2. If Yn - (alpha)(Pn - (DELTA)Pn) => 0, Y11 - (alpha)(P11 - (DELTA)P11) => 0,
   and (gamma)1(P11 - (DELTA)P11) => (Pn - (DELTA)Pn), then (DELTA)Yn = Yn -
   (alpha)(Pn - (DELTA)Pn) and (DELTA)Y11 = Y11 - ((alpha)/(gamma)1)(Pn -
   (DELTA)Pn).
3. If Yn - (alpha)(Pn - (DELTA)Pn) < 0, Y11 - (alpha)(P11 - (DELTA)P11) => 0,
   and Y11 - (alpha)(P11 - (DELTA)P11) => Y11 - (Yn/(gamma)1), then (DELTA)Yn =
   Yn - (alpha)(gamma)1(P11 - (DELTA)P11) and (DELTA)Y11 = Y11 - (alpha)(P11 -
   (DELTA)P11).
4. If Yn - (alpha)(Pn - (DELTA)Pn) < 0, Y11 - (Yn/(gamma)1) => 0, and Y11 -
   (alpha)(P11 - (DELTA)P11) <= Y11 - (Yn/(gamma)1), then (DELTA)Yn = 0 and
   (DELTA)Y11 = Y11 - (Yn/(gamma)1).
5. If Y11 - (alpha)(P11 - (DELTA)P11) < 0, Y11 - (Yn/(gamma)1) < 0, and Yn -
   (alpha)(Pn - (DELTA)Pn) <= Yn - ((gamma)1Y11), then (DELTA)Yn = Yn -
   ((gamma)1Y11) and (DELTA)Y11 = 0.
6. If Y11 - (alpha)(P11 - (DELTA)P11) < 0, Yn - (alpha)(Pn - (DELTA)Pn) => 0,
   and Yn - (alpha)(Pn - (DELTA)Pn) => Yn - ((gamma)1Y11), then (DELTA)Yn = Yn-
   (alpha)(Pn - (DELTA)Pn) and (DELTA)Y11 = Y11 - ((alpha)/(gamma)1)(Pn -
   (DELTA)Pn).

AYj = (delta)1Yj + [(Yj - (delta)1Yj )/Y11 ]A Y11

AYk = (delta)1Yk + [(Yk - (delta)1Yk )/Y11 ]AY11

AYl = (delta)1Yl + [(Yl - (delta)1Yl )/Y11 ]A Y11

AYm = (delta)1Ym + [(Ym - (delta)1Ym )/Y11 ]AY11

The purpose of the foregoing definitional provisions together with the related
provisions allocating Realized Losses and defining the Principal Distribution
Amounts for the respective Uncertificated Lower-Tier Regular Interests is to
accomplish the following goals in the following order of priority:

1. Making the ratio of (Yn - AYn ) to (Y11 - AY11 ) equal to (gamma)1 after
   taking account of the allocation Realized Losses and the distributions that
   will be made through the end of the Distribution Date to which such
   provisions relate and assuring that each of the Uncertificated Lower-Tier
   Regular Interest Y Principal Reduction Amounts and Uncertificated Lower-Tier
   Regular Interest Z Principal Reduction Amounts is greater than or equal to
   zero for such Distribution Date;
2. Making the Uncertificated Principal Balance of Uncertificated Lower-Tier
   Regular Interest Y-AA less than or equal to 0.0005 of the sum of the
   Uncertificated Principal Balances of Uncertificated Lower-Tier Regular
   Interest Y-AA and Uncertificated Lower-Tier Regular Interest Z-AA, the
   Uncertificated Principal Balance of Uncertificated Lower-Tier Regular
   Interest Y-BB less than or equal to 0.0005 of the sum of the Uncertificated
   Principal Balances of Uncertificated Lower-Tier Regular Interest Y-BB and
   Uncertificated Lower-Tier Regular Interest Z-BB, the Uncertificated Principal
   Balance of Uncertificated Lower-Tier Regular Interest Y-CC less than or equal
   to 0.0005 of the sum of the Uncertificated Principal Balances of
   Uncertificated Lower-Tier Regular Interest Y-CC and Uncertificated Lower-Tier
   Regular Interest Z-CC, and the Uncertificated Principal Balance of
   Uncertificated Lower-Tier Regular Interest Y-DD less than or equal to 0.0005
   of the sum of the Uncertificated Principal Balances of Uncertificated
   Lower-Tier Regular Interest Y-DD and Uncertificated Lower-Tier Regular
   Interest Z-DD in each case after giving effect to allocations of Realized
   Losses and distributions to be made through the end of the Distribution Date
   to which such provisions relate; and
3. Making the larger of (a) the fraction whose numerator is (Yn - AYn ) and
   whose denominator is the sum of (Yn - AYn) and (Zn - AZn) and (b) the
   fraction whose numerator is (Y11 - AY11) and whose denominator is the sum of
   (Y11 - AY11) and (Z11 - AZ11) as large as possible while remaining less than
   or equal to 0.0005.

In the event of a failure of the foregoing portion of the definition of
Uncertificated Lower-Tier Regular Interest Y Principal Reduction Amounts to
accomplish both of goals 1 and 2 above, the amounts thereof should be adjusted
to so as to accomplish such goals within the requirement that each
Uncertificated Lower-Tier Regular Interest Y Principal Reduction Amount must be
less than or equal to the sum of (a) the Principal Realized Losses to be
allocated on the related Distribution Date for the related Loan Group remaining
after the allocation of such Realized Losses to the related class of ratio-strip
principal only certificates, if any, and (b) the remainder of the Pool
Distribution Amount for the related Loan Group or after reduction thereof by the
distributions to be made on such Distribution Date (i) to the related class of
ratio-strip principal only certificates, if any, (ii) to the related class of
ratio-strip interest only certificates, if any, and (iii) in respect of interest
on the related Uncertificated Lower-Tier Regular Interests, or, if both of such
goals cannot be accomplished within such requirement, such adjustment as is
necessary shall be made to accomplish goal 1 within such requirement. In the
event of any conflict among the provisions of the definition of Uncertificated
Lower-Tier Regular Interest Y Principal Reduction Amounts, such conflict shall
be resolved on the basis of the goals and their priorities set forth above
within the requirement set forth in the preceding sentence. If the formula
allocation of AY11 among AYj, AYk, AYl and AYm cannot be achieved because one or
more of AYj, AYk, AYl and AYm, as so defined is greater than the related one of
APj, APk, APl and APm, such an allocation shall be made as close as possible to
the formula allocation within the requirement that AYj < APj, AYk < APk, AYl <
APl, AYm < APm and AYm < APm.

II. If L%<=R<=M%, make the following additional definitions:

(delta)2Yj =      0,                                              if R21< r21;

      (R21- r21)( Yj + Yk + Yl )Yj/
            {(R21 - J%)Yj + (R21 - K%)Yk },                if R21=> r21 and
      L%>R21=>K%; and

      (R21- r21)( Yj + Yk + Yl )/(R21 - J%), if R21=> r21 and K%>R21=>J%.

(delta)2Yk =      0,                                  if R21< r21 and R21=>K%;

      (R21- r21)( Yj + Yk + Yl )Yk/
            { (R21 - K%)Yk + (R21 - L%)Yl },         if R21< r21 and R21<K%;

      (R21- r21)( Yj + Yk + Yl )Yk/
            {(R21 - J%)Yj + (R21 - K%)Yk },              if R21=> r21 and
      L%>R21=>K%; and

      0,                                              if R21=> r21 and R21<K%.

(delta)2Yl =      (R21- r21)( Yj + Yk + Yl )/(R21 - L%),             if R21< r21
      and K%<=R21<L%;

      (R21- r21)( Yj + Yk + Yl )Yl/{ (R21 - K%)Yk + (R21 - L%)Yl },  if R21< r21
      and R21<K%;

      0,                                              if R21=> r21.

(delta)2Ym =      0,                                              if R22< r22;

       (R22- r22)( Ym + Yn )/(R22 - M%),              if R22=> r22 and R22=>M%;

(delta)2Yn =      the greater of 0 and (DELTA)Pn - Zn,        if
      R22=N%;

      (R22- r22)( Ym + Yn)/(R22 - N%),                     if R22< r22 and
      M%<=R22<N%;

      0,                                              if R22=> r22 and R22<N%.

(delta)2Yj, (delta)2Yk, (delta)2Yl, (delta)2Ym and (delta)2Yn are numbers
      respectively between Yj, Yk, Yl, Ym and Yn and 0 such that:
            {J%(Yj - (delta)2Yj ) + K%( Yk.- (delta)2Yk) + L%( Yl.-
                  (delta)2Yl)}/ ( Yj - (delta)2Yj + Yk.- (delta)2Yk + Yl.-
                  (delta)2Yl)
            = R21;
      and
            { M%( Ym.- (delta)2Ym) + N%( Yn.- (delta)2Yn) }/
                  (Ym.- (delta)2Ym + Yn.- (delta)2Yn)
            = R22.

Y21 = Yj - (delta)2Yj + Yk.- (delta)2Yk + Yl.- (delta)2Yl.

P21 =       Pj + Pk + Pl.

Z21 =       Zj + Zk + Zl.

AY21 = AYj - (delta)2Yj + AYk.- (delta)2Yk + AYl.- (delta)2Yl.

AP21 =      APj + APk + APl.

AZ21 =      AZj + AZk + AZl.

Y22 =       Ym.- (delta)2Ym + Yn.- (delta)2Yn.

P22 =       Pm + Pn.

Z22 =       Zm + Zn.

AY22 =      AYm.- (delta)2Ym + AYn.- (delta)2Yn

AP22 =      APm + APn.

AZ22 =      AZm + AZn.

1. If Y22 -(alpha)(P22 - (DELTA)P22) => 0, Y21- (alpha)(P21 - (DELTA)P21) => 0,
   and (gamma)2(P21 - (DELTA)P21) < (P22 - (DELTA)P22), then (DELTA)Y22 = Y22 -
   (alpha)(gamma)2(P21 - (DELTA)P21) and (DELTA)Y21 = Y21 - (alpha)(P21 -
   (DELTA)P21).
2. If Y22 - (alpha)(P22 - (DELTA)P22) => 0, Y21 - (alpha)(P21 - (DELTA)P21) =>
   0, and (gamma)2(P21 - (DELTA)P21) => (P22 - (DELTA)P22), then (DELTA)Y22 =
   Y22 - (alpha)(P22 - (DELTA)P22) and (DELTA)Y21 = Y21 -((alpha)/(gamma)2)(P22
   - (DELTA)P22).
3. If Y22 - (alpha)(P22 - (DELTA)P22) < 0, Y21 - (alpha)(P21 -(DELTA)P21) => 0,
   and Y21 - (alpha)(P21 - (DELTA)P21) => Y21 - (Y22/(gamma)2), then (DELTA)Y22
   = Y22 - (alpha)(gamma)2(P21 - (DELTA)P21) and (DELTA)Y21 = Y21 - (alpha)(P21
   - (DELTA)P21).
4. If Y22 - (alpha)(P22 - (DELTA)P22) < 0, Y21 - (Y22/(gamma)2) => 0, and Y21 -
   (alpha)(P21 - (DELTA)P21) <= Y21 - (Y22/(gamma)2), then (DELTA)Y22 = 0 and
   (DELTA)Y21 = Y21 - (Y22/(gamma)2).
5. If Y21 - (alpha)(P21 - (DELTA)P21) < 0, Y21 - (Y22/(gamma)2) < 0, and Y22 -
   (alpha)(P22 - (DELTA)P22) <= Y22 - ((gamma)2Y21), then (DELTA)Y22 = Y22 -
   ((gamma)2Y21) and (DELTA)Y21 = 0.
6. If Y21 - (alpha)(P21 - (DELTA)P21) < 0, Y22 - (alpha)(P22 -(DELTA)P22) => 0,
   and Y22 - (alpha)(P22 - (DELTA)P22) => Y22 - ((gamma)2Y21),then (DELTA)Y22 =
   Y22 - (alpha)(P22 - (DELTA)P22) and (DELTA)Y21 = Y21 -((alpha)/(gamma)2)(P22
   - (DELTA)P22).

(DELTA)Yj = (delta)2Yj + [(Yj - (delta)2Yj )/Y21 ] (DELTA)Y21

(DELTA)Yk = (delta)2Yk + [(Yk - (delta)2Yk )/Y21 ] (DELTA)Y21

(DELTA)Yl = (delta)2Yl + [(Yl - (delta)2Yl )/Y21 ] (DELTA)Y21

(DELTA)Ym = (delta)2Ym + [(Ym - (delta)2Ym )/Y22 ] (DELTA)Y22

(DELTA)Yn = (delta)2Yn + [(Yn - (delta)2Yn )/Y22 ] (DELTA)Y22

The purpose of the foregoing definitional provisions together with the related
provisions allocating Realized Losses and defining the Principal Distribution
Amounts for the respective Uncertificated Lower-Tier Regular Interests is to
accomplish the following goals in the following order of priority:

1. Making the ratio of (Y22 - (DELTA)Y22 ) to (Y21 - (DELTA)Y21 ) equal to
   (gamma)2 after taking account of the allocation Realized Losses and the
   distributions that will be made through the end of the Distribution Date to
   which such provisions relate and assuring that each of the Uncertificated
   Lower-Tier Regular Interest Y Principal Reduction Amounts and Uncertificated
   Lower-Tier Regular Interest Z Principal Reduction Amounts is greater than or
   equal to zero for such Distribution Date;
2. Making the Uncertificated Principal Balance of Uncertificated Lower-Tier
   Regular Interest Y-AA less than or equal to 0.0005 of the sum of the
   Uncertificated Principal Balances of Uncertificated Lower-Tier Regular
   Interests Y-AA and Uncertificated Lower-Tier Regular Interest Z-AA, the
   Uncertificated Principal Balance of Uncertificated Lower-Tier Regular
   Interest Y-BB less than or equal to 0.0005 of the sum of the Uncertificated
   Principal Balances of Uncertificated Lower-Tier Regular Interest Y-BB and
   Uncertificated Lower-Tier Regular Interest Z-BB, the Uncertificated Principal
   Balance of Uncertificated Lower-Tier Regular Interest Y-CC less than or equal
   to 0.0005 of the sum of the Uncertificated Principal Balances of
   Uncertificated Lower-Tier Regular Interest Y-CC and Uncertificated Lower-Tier
   Regular Interest Z-CC and the Uncertificated Principal Balance of
   Uncertificated Lower-Tier Regular Interest Y-DD less than or equal to 0.0005
   of the sum of the Uncertificated Principal Balances of Uncertificated
   Lower-Tier Regular Interest Y-DD and Uncertificated Lower-Tier Regular
   Interest Z-DD, in each case after giving effect to allocations of Realized
   Losses and distributions to be made through the end of the Distribution Date
   to which such provisions relate; and
3. Making the larger of (a) the fraction whose numerator is (Y22 - (DELTA)Y22 )
   and whose denominator is the sum of (Y22 - (DELTA)Y22) and (Z22 - (DELTA)Z22)
   and (b) the fraction whose numerator is (Y21 - (DELTA)Y21) and whose
   denominator is the sum of (Y21 - (DELTA)Y21) and (Z21 - (DELTA)Z21) as large
   as possible while remaining less than or equal to 0.0005.

In the event of a failure of the foregoing portion of the definition of
Uncertificated Lower-Tier Regular Interest Y Principal Reduction Amounts to
accomplish both of goals 1 and 2 above, the amounts thereof should be adjusted
to so as to accomplish such goals within the requirement that each
Uncertificated Lower-Tier Regular Interest Y Principal Reduction Amount must be
less than or equal to the sum of (a) the Principal Realized Losses to be
allocated on the related Distribution Date for the related Loan Group remaining
after the allocation of such Realized Losses to the related class of ratio-strip
principal only certificates, if any, and (b) the remainder of the Pool
Distribution Amount for the related Loan Group or after reduction thereof by the
distributions to be made on such Distribution Date (i) to the related class of
ratio-strip principal only certificates, if any, (ii) to the related class of
ratio-strip interest only certificates, if any, and (iii) in respect of interest
on the related Uncertificated Lower-Tier Regular Interests, or, if both of such
goals cannot be accomplished within such requirement, such adjustment as is
necessary shall be made to accomplish goal 1 within such requirement. In the
event of any conflict among the provisions of the definition of the
Uncertificated Lower-Tier Regular Interest Y Principal Reduction Amounts, such
conflict shall be resolved on the basis of the goals and their priorities set
forth above within the requirement set forth in the preceding sentence. If the
formula allocations of (DELTA)Y21 among (DELTA)Yj, (DELTA)Yk and (DELTA)Yl or
(DELTA)Y22 among (DELTA)Ym and (DELTA)Yn cannot be achieved because one or more
of (DELTA)Yj, (DELTA)Yk, (DELTA)Yl, (DELTA)Ym and (DELTA)Yn, as so defined, is
greater than the related one of (DELTA)Pj, (DELTA)Pk, (DELTA)Pl, (DELTA)Pm and
(DELTA)Pn, such an allocation shall be made as close as possible to the formula
allocation within the requirement that (DELTA)Yj < (DELTA)Pj, (DELTA)Yk <
(DELTA)Pk, (DELTA)Yl < (DELTA)Pl, (DELTA)Ym < (DELTA)Pm and (DELTA)Yn <
(DELTA)Pn.

III. If K%<=R<=L%, make the following additional definitions:

(delta)3Yj =      0,                                       if R31< r31; and

      (R31- r31)( Yj + Yk )/(R31 - J%), if R31=> r31 and K%>R31=>J%.

(delta)3Yk =      (R31- r31)( Yj + Yk )/(R31 - K%),            if R31< r31
      and R31<K%; and

      0,                                    if R31=> r31 and R31<K%.

(delta)3Yl =      0,                                    if R32< r32;

       (R32- r32)( Yl + Ym + Yn)Yl/
            { (R32 - L%)Yl + (R32 - M%)Ym },        if R32=> r32 and
      N%>R32=>M%;

      (R32- r32)( Yl + Ym + Yn)/(R32 - L%),      if R32=> r32 and M%>R32=>L%;

(delta)3Ym =      0,                        if R32< r32 and R32=>M%;

      (R32- r32)( Yl + Ym + Yn)Ym/
            { (R32 - M%)Ym + (R32 - N%)Yn },         if R32< r32 and
      L%<=R32<M%;

      (R32- r32)( Yl + Ym + Yn)Ym/
            { (R32 - L%)Yl + (R32 - M%)Ym },        if R32=> r32 and
      N%>R32=>M%;

      0,                                    if R32=> r32 and R32<M%.

(delta)3Yn =      0,                        if R32< r32 and R32=>N%;

      (R32- r32)( Yl + Ym + Yn)/(R32 - N%),          if R32< r32 and
      M%<=R32<N%;

      (R32- r32)( Yl + Ym + Yn )Yn/
            { (R32 - M%)Ym + (R32 - N%)Yn },         if R32< r32 and
      L%<=R32<M%;

      0,                                    if R32=> r32 and R32<N%.

(delta)3Yj, (delta)3Yk, (delta)3Yl, (delta)3Ym and (delta)3Yn are numbers
      respectively between Yj, Yk, Yl, Ym, and Yn and 0 such that:

            {J%(Yj - (delta)3Yj ) + K%( Yk.- (delta)3Yk) }/
                  ( Yj - (delta)3Yj + Yk.- (delta)3Yk)
            = R31;
      and
            {     L%( Yl.- (delta)3Yl) + M%( Ym.- (delta)3Ym) + N%( Yn.-
                  (delta)3Yn ) }/ (Yl.- (delta)3Yl + Ym.- (delta)3Ym + Yn.-
                  (delta)3Yn )
            = R32.

Y31 =       Yj - (delta)3Yj + Yk.- (delta)3Yk.

P31 =       Pj + Pk.

Z31 =       Zj + Zk.

(DELTA)Y31 = (DELTA)Yj - (delta)3Yj + (DELTA)Yk.- (delta)3Yk.

(DELTA)P31 =      (DELTA)Pj + (DELTA)Pk.

(DELTA)Z31 =      (DELTA)Zj + (DELTA)Zk.

Y32 =       Yl.- (delta)3Yl + Ym.- (delta)3Ym + Yn.- (delta)3Yn .

P32 =       Pl + Pm + Pn .

Z32 =       Zl + Zm + Zn.

(DELTA)Y32 =      (DELTA)Yl.- (delta)3Yl + (DELTA)Ym.- (delta)3Ym +
(DELTA)Yn.- (delta)3Yn .

(DELTA)P32 =      (DELTA)Pl + (DELTA)Pm + (DELTA)Pn.

(DELTA)Z32 =      (DELTA)Zl + (DELTA)Zm + (DELTA)Zn.

1. If Y32 - (alpha)(P32 - (DELTA)P32) => 0, Y31- (alpha)(P31 - (DELTA)P31) => 0,
   and (gamma)3(P31 - (DELTA)P31) < (P32 - (DELTA)P32), then (DELTA)Y32 = Y32 -
   (alpha)(gamma)3(P31 - (DELTA)P31) and (DELTA)Y31 = Y31 - (alpha)(P31 -
   (DELTA)P31).
2. If Y32 - (alpha)(P32 - (DELTA)P32) => 0, Y31 - (alpha)(P31 - (DELTA)P31) =>
   0, and (gamma)3(P31 - (DELTA)P31) => (P32 - (DELTA)P32), then (DELTA)Y32 =
   Y32 - (alpha)(P32 - (DELTA)P32) and (DELTA)Y31 = Y31 - ((alpha)/(gamma)3)(P32
   - (DELTA)P32).
3. If Y32 - (alpha)(P32 - (DELTA)P32) < 0, Y31 - (alpha)(P31 - (DELTA)P31) => 0,
   and Y31 - (alpha)(P31 - (DELTA)P31) => Y31 - (Y32/(gamma)3), then (DELTA)Y32
   = Y32 - (alpha)(gamma)3(P31 - (DELTA)P31) and (DELTA)Y31 = Y31 - (alpha)(P31
   - (DELTA)P31).
4. If Y32 - (alpha)(P32 - (DELTA)P32) < 0, Y31 - (Y32/(gamma)3) => 0, and Y31 -
   (alpha)(P31 - (DELTA)P31) <= Y31 - (Y32/(gamma)3), then (DELTA)Y32 = 0 and
   (DELTA)Y31 = Y31 - (Y32/(gamma)3).
5. If Y31 - (alpha)(P31 - (DELTA)P31) < 0, Y31 - (Y32/(gamma)3) < 0, and Y32 -
   (alpha)(P32 - (DELTA)P32) <= Y32 - ((gamma)3Y31), then (DELTA)Y32 = Y32 -
   ((gamma)3Y31) and (DELTA)Y31 = 0.
6. If Y31 - (alpha)(P31 - (DELTA)P31) < 0, Y32 - (alpha)(P32 - (DELTA)P32) => 0,
   and Y32 - (alpha)(P32 - (DELTA)P32) => Y32 - ((gamma)3Y31), then (DELTA)Y32 =
   Y32 - (alpha)(P32 - (DELTA)P32) and (DELTA)Y31 = Y31 - ((alpha)/(gamma)3)(P32
   - (DELTA)P32).

(DELTA)Yj = (delta)3Yj + [(Yj - (delta)3Yj )/Y31 ] (DELTA)Y31

(DELTA)Yk = (delta)3Yk + [(Yk - (delta)3Yk )/Y31 ] (DELTA)Y31

(DELTA)Yl = (delta)3Yl + [(Yl - (delta)3Yl )/Y32 ] (DELTA)Y32

(DELTA)Ym = (delta)3Ym + [(Ym - (delta)3Ym )/Y32 ] (DELTA)Y32

(DELTA)Yn = (delta)3Yn + [(Yn - (delta)3Yn )/Y32 ] (DELTA)Y32

The purpose of the foregoing definitional provisions together with the related
provisions allocating Realized Losses and defining the Principal Distribution
Amounts of the respective Uncertificated Lower-Tier Regular Interests is to
accomplish the following goals in the following order of priority:

1.   Making the ratio of (Y32 -  (DELTA)Y32  ) to (Y31 -  (DELTA)Y31  ) equal to
     (gamma)3  after taking account of the  allocation  Realized  Losses and the
     distributions that will be made through the end of the Distribution Date to
     which such provisions  relate and assuring that each of the  Uncertificated
     Lower-Tier   Regular   Interest   Y   Principal   Reduction   Amounts   and
     Uncertificated Lower-Tier Regular Interest Z Principal Reduction Amounts is
     greater than or equal to zero for such Distribution Date;

2.   Making the  Uncertificated  Principal Balance of Uncertificated  Lower-Tier
     Regular  Interest  Y-AA  less  than or  equal to  0.0005  of the sum of the
     Uncertificated  Principal  Balances of  Uncertificated  Lower-Tier  Regular
     Interests Y-AA and  Uncertificated  Lower-Tier  Regular  Interest Z-AA, the
     Uncertificated  Principal  Balance  of  Uncertificated  Lower-Tier  Regular
     Interest Y-BB less than or equal to 0.0005 of the sum of the Uncertificated
     Principal  Balances of Uncertificated  Lower-Tier Regular Interest Y-BB and
     Uncertificated   Lower-Tier   Regular  Interest  Z-BB,  the  Uncertificated
     Principal Balance of Uncertificated  Lower-Tier  Regular Interest Y-CC less
     than or equal to 0.0005 of the sum of the Uncertificated Principal Balances
     of  Uncertificated  Lower-Tier  Regular  Interest  Y-CC and  Uncertificated
     Lower-Tier Regular Interest Z-CC and the  Uncertificated  Principal Balance
     of  Uncertificated  Lower-Tier  Regular Interest Y-DD less than or equal to
     0.0005   of  the  sum  of  the   Uncertificated   Principal   Balances   of
     Uncertificated   Lower-Tier   Regular  Interest  Y-DD  and   Uncertificated
     Lower-Tier  Regular  Interest  Z-DD,  in each case after  giving  effect to
     allocations of Realized Losses and distributions to be made through the end
     of the Distribution Date to which such provisions relate; and

3.   Making the larger of (a) the fraction whose  numerator is (Y32 - (DELTA)Y32
     ) and  whose  denominator  is the  sum of  (Y32 -  (DELTA)Y32)  and  (Z32 -
     (DELTA)Z32)  and (b) the fraction whose numerator is (Y31 - (DELTA)Y31) and
     whose  denominator is the sum of (Y31 - (DELTA)Y31)  and (Z31 - (DELTA)Z31)
     as large as possible while remaining less than or equal to 0.0005.

In the event of a failure of the foregoing portion of the definition of
Uncertificated Lower-Tier Regular Interest Y Principal Reduction Amounts to
accomplish both of goals 1 and 2 above, the amounts thereof should be adjusted
to so as to accomplish such goals within the requirement that each
Uncertificated Lower-Tier Regular Interest Y Principal Reduction Amount must be
less than or equal to the sum of (a) the Principal Realized Losses to be
allocated on the related Distribution Date for the related Loan Group remaining
after the allocation of such Realized Losses to the related class of ratio-strip
principal only certificates, if any, and (b) the remainder of the Pool
Distribution Amount for the related Loan Group or after reduction thereof by the
distributions to be made on such Distribution Date (i) to the related class of
ratio-strip principal only certificates, if any, (ii) to the related class of
ratio-strip interest only certificates, if any, and (iii) in respect of interest
on the related Uncertificated Lower-Tier Regular Interests, or, if both of such
goals cannot be accomplished within such requirement, such adjustment as is
necessary shall be made to accomplish goal 1 within such requirement. In the
event of any conflict among the provisions of the definition of Uncertificated
Lower-Tier Regular Interest Y Principal Reduction Amounts, such conflict shall
be resolved on the basis of the goals and their priorities set forth above
within the requirement set forth in the preceding sentence. If the formula
allocations of (DELTA)Y31 among (DELTA)Yj and (DELTA)Yk or (DELTA)Y32 among
(DELTA)Yl, (DELTA)Ym and (DELTA)Yn cannot be achieved because one or more of
(DELTA)Yj, (DELTA)Yk, (DELTA)Yl, (DELTA)Ym and (DELTA)Yn, as so defined, is
greater than the related one of (DELTA)Pj, (DELTA)Pk, (DELTA)Pl, (DELTA)Pm and
(DELTA)Pn, such an allocation shall be made as close as possible to the formula
allocation within the requirement that (DELTA)Yj < (DELTA)Pj, (DELTA)Yk <
(DELTA)Pk, (DELTA)Yl < (DELTA)Pl, (DELTA)Ym < (DELTA)Pm and (DELTA)Yn <
(DELTA)Pn.

IV. If R<=K%, make the following additional definitions:

(delta)4Yk =      0,                                              if R42< r42;

       (R42- r42)( Yk + Yl + Ym + Yn )Yk/
            { (R42 - K%)Yk + (R42 - L%)Yl + (R42 - M%)Ym },   if R42=> r42 and
      N%>R42=>M%;

      (R42- r42)( Yk + Yl + Ym + Yn )Yk/
            { (R42 - K%)Yk + (R42 - L%)Yl },               if R42=> r42 and
      M%>R42=>L%; and

      (R42- r42)( Yk + Yl + Ym + Yn )/(R42 - K%),            if R42=> r42 and
      L%>R42=>K%.

(delta)4Yl =      0,                                  if R42< r42 and R42=>L%;

      (R42- r42)( Yk + Yl + Ym + Yn )Yl/ { (R42 - L%)Yl + (R42 - M%)Ym +
            (R42 - N%)Yn },                   if R42< r42 and L%>R42=>K%;

       (R42- r42)( Yk + Yl + Ym + Yn )Yl/
            { (R42 - K%)Yk + (R42 - L%)Yl + (R42 - M%)Ym },     if R42=> r42 and
      N%>R42=>M%;

      (R42- r42)( Yk + Yl + Ym + Yn )Yl/
            { (R42 - K%)Yk + (R42 - L%)Yl },             if R42=> r42 and
      M%>R42=>L%;

      0,                                              if R42=> r42 and R42<L%.

(delta)4Ym =      0,                                if R42< r42 and R42=>M%;

      (R42- r42)( Yk + Yl + Ym + Yn )Ym/
            { (R42 - M%)Ym + (R42 - N%)Yn },                 if R42< r42 and
      L%<=R42<M%;

      (R42- r42)( Yk + Yl + Ym + Yn )Ym/
            { (R42 - L%)Yl + (R42 - M%)Ym + (R42 - N%)Yn },   if R42< r42 and
      K<=R42<L%;

       (R42- r42)( Yk + Yl + Ym + Yn )Ym/
            { (R42 - K%)Yk + (R42 - L%)Yl + (R42 - M%)Ym },   if R42=> r42 and
      N%>R42=>M%;

      0,                                              if R42=> r42 and R42<M%.

(delta)4Yn =      0,                                    if R42< r42 and R42=>N%;

      (R42- r42)( Yk + Yl + Ym + Yn )/ (R42 - N%),           if R42< r42 and
      M%<=R42<N%;

      (R42- r42)( Yk + Yl + Ym + Yn )Yn/
            { (R42 - M%)Ym + (R42 - N%)Yn },                if R42< r42 and
      L%<=R42<M%;

      (R42- r42)( Yk + Yl + Ym + Yn )Yn/
            { (R42 - L%)Yl + (R42 - M%)Ym + (R42 - N%)Yn },    if R42< r42 and
      K%<=R42<L%;

      0,                                              if R42=> r42 and R42<N%.

(delta)4Yk, (delta)4Yl, (delta)4Ym and (delta)4Yn are numbers respectively
      between Yk, Yl, Ym and Yn and 0 such that
       { K%( Yk.- (delta)4Yk) + L%( Yl.- (delta)4Yl) + M%( Ym.- (delta)4Ym)
      + N%( Yn.- (delta)4Yn) }/
                  ( Yk.- (delta)4Yk + Yl.- (delta)4Yl + Ym.- (delta)4Ym + Yn.-
            (delta)4Yn ) = R42.

Y42 =    Yk.- (delta)4Yk + Yl.- (delta)4Yl + Ym.- (delta)4Ym + Yn.- (delta)4Yn .

P42 =       Pk + Pl + Pm + Pn.

Z42 =       Zk + Zl + Zm + Zn.

(DELTA)Y42 = (DELTA)Yk.- (delta)4Yk + (DELTA)Yl.- (delta)4Yl + (DELTA)Ym.-
   (delta)4Ym + (DELTA)Yn.- (delta)4Yn .

(DELTA)P42 =      (DELTA)Pk + (DELTA)Pl + (DELTA)Pm + (DELTA)Pn.

(DELTA)Z42 =      (DELTA)Zk + (DELTA)Zl + (DELTA)Zm + (DELTA)Zn.

1. If Y42 - (alpha)(P42 - (DELTA)P42) => 0, Yj- (alpha)(Pj - (DELTA)Pj) => 0,
   and (gamma)4(Pj - (DELTA)Pj) < (P42 - (DELTA)P42), then (DELTA)Y42 = Y42 -
   (alpha)(gamma)4(Pj - (DELTA)Pj) and (DELTA)Yj = Yj - (alpha)(Pj - (DELTA)Pj).
2. If Y42 - (alpha)(P42 - (DELTA)P42) => 0, Yj - (alpha)(Pj - (DELTA)Pj) => 0,
   and (gamma)4(Pj - (DELTA)Pj) => (P42 - (DELTA)P42), then (DELTA)Y42 = Y42 -
   (alpha)(P42 - (DELTA)P42) and (DELTA)Yj = Yj - ((alpha)/(gamma)4)(P42 -
   (DELTA)P42).
3. If Y42 - (alpha)(P42 - (DELTA)P42) < 0, Yj - (alpha)(Pj - (DELTA)Pj) => 0,
   and Yj - (alpha)(Pj - (DELTA)Pj) => Yj - (Y42/(gamma)4), then (DELTA)Y42 =
   Y42 - (alpha)(gamma)4(Pj - (DELTA)Pj) and (DELTA)Yj = Yj - (alpha)(Pj -
   (DELTA)Pj).
4. If Y42 - (alpha)(P42 - (DELTA)P42) < 0, Yj - (Y42/(gamma)4) => 0, and Yj -
   (alpha)(Pj - (DELTA)Pj) <= Yj - (Y42/(gamma)4), then (DELTA)Y42 = 0 and
   (DELTA)Yj = Yj - (Y42/(gamma)4).
5. If Yj - (alpha)(Pj - (DELTA)Pj) < 0, Yj - (Y42/(gamma)4) < 0, and Y42 -
   (alpha)(P42 - (DELTA)P42) <= Y42 - ((gamma)4Yj), then (DELTA)Y42 = Y42 -
   ((gamma)4Yj) and (DELTA)Yj = 0.
6. If Yj - (alpha)(Pj - (DELTA)Pj) < 0, Y42 - (alpha)(P42 - (DELTA)P42) => 0,
   and Y42 - (alpha)(P42 - (DELTA)P42) => Y42 - ((gamma)4Yj), then (DELTA)Y42 =
   Y42 - (alpha)(P42 - (DELTA)P42) and (DELTA)Yj = Yj - ((alpha)/(gamma)4)(P42-
   (DELTA)P42).

(DELTA)Yk = (delta)4Yk + [(Yk - (delta)4Yk )/Y42 ] (DELTA)Y42

(DELTA)Yl = (delta)4Yl + [(Yl - (delta)4Yl )/Y42 ] (DELTA)Y42

(DELTA)Ym = (delta)4Ym + [(Ym - (delta)4Ym )/Y42 ] (DELTA)Y42

(DELTA)Yn = (delta)4Yn + [(Yn - (delta)4Yn )/Y42 ] (DELTA)Y42

The purpose of the foregoing definitional provisions together with the related
provisions allocating Realized Losses and defining the Principal Distribution
Amounts for the respective Uncertificated Lower-Tier Regular Interests is to
accomplish the following goals in the following order of priority:

1. Making the ratio of (Y42 - (DELTA)Y42 ) to (Yj - (DELTA)Yj ) equal to
   (gamma)4 after taking account of the allocation Realized Losses and the
   distributions that will be made through the end of the Distribution Date to
   which such provisions relate and assuring that each of the Uncertificated
   Lower-Tier Regular Interest Y Principal Reduction Amounts and Uncertificated
   Lower-Tier Regular Interest Z Principal Reduction Amounts is greater than or
   equal to zero for such Distribution Date;
2. Making the Uncertificated Principal Balance of Uncertificated Lower-Tier
   Regular Interest Y-AA less than or equal to 0.0005 of the sum of the
   Uncertificated Principal Balances of Uncertificated Lower-Tier Regular
   Interests Y-AA and Uncertificated Lower-Tier Regular Interest Z-AA, the
   Uncertificated Principal Balance of Uncertificated Lower-Tier Regular
   Interest Y-BB less than or equal to 0.0005 of the sum of the Uncertificated
   Principal Balances of Uncertificated Lower-Tier Regular Interest Y-BB and
   Uncertificated Lower-Tier Regular Interest Z-BB, the Uncertificated Principal
   Balance of Uncertificated Lower-Tier Regular Interest Y-CC less than or equal
   to 0.0005 of the sum of the Uncertificated Principal Balances of
   Uncertificated Lower-Tier Regular Interest Y-CC and Uncertificated Lower-Tier
   Regular Interest Z-CC and the Uncertificated Principal Balance of
   Uncertificated Lower-Tier Regular Interest Y-DD less than or equal to 0.0005
   of the sum of the Uncertificated Principal Balances of Uncertificated
   Lower-Tier Regular Interest Y-DD and Uncertificated Lower-Tier Regular
   Interest Z-DD, in each case after giving effect to allocations of Realized
   Losses and distributions to be made through the end of the Distribution Date
   to which such provisions relate; and
3. Making the larger of (a) the fraction whose numerator is (Y42 - (DELTA)Y42 )
   and whose denominator is the sum of (Y42 - (DELTA)Y42) and (Z42 - (DELTA)Z42)
   and (b) the fraction whose numerator is (Yj - (DELTA)Yj) and whose
   denominator is the sum of (Yj - (DELTA)Yj) and (Zj - (DELTA)Zj) as large as
   possible while remaining less than or equal to 0.0005.

In the event of a failure of the foregoing portion of the definition of
Uncertificated Lower-Tier Regular Interest Y Principal Reduction Amounts to
accomplish both of goals 1 and 2 above, the amounts thereof should be adjusted
to so as to accomplish such goals within the requirement that each
Uncertificated Lower-Tier Regular Interest Y Principal Reduction Amount must be
less than or equal to the sum of (a) the Principal Realized Losses to be
allocated on the related Distribution Date for the related Loan Group remaining
after the allocation of such Realized Losses to the related class of ratio-strip
principal only certificates, if any, and (b) the remainder of the Pool
Distribution Amount for the related Loan Group or after reduction thereof by the
distributions to be made on such Distribution Date (i) to the related class of
ratio-strip principal only certificates, if any, (ii) to the related class of
ratio-strip interest only certificates, if any, and (iii) in respect of interest
on the related Uncertificated Lower-Tier Regular Interests, or, if both of such
goals cannot be accomplished within such requirement, such adjustment as is
necessary shall be made to accomplish goal 1 within such requirement. In the
event of any conflict among the provisions of the definition of Uncertificated
Lower-Tier Regular Interest Y Principal Reduction Amounts, such conflict shall
be resolved on the basis of the goals and their priorities set forth above
within the requirement set forth in the preceding sentence. If the formula
allocation of (DELTA)Y42 among (DELTA)Yk, (DELTA)Yl, (DELTA)Ym and (DELTA)Yn
cannot be achieved because one or more of (DELTA)Yk, (DELTA)Yl, (DELTA)Ym and
(DELTA)Yn, as so defined, is greater than the related one of (DELTA)Pk,
(DELTA)Pl, (DELTA)Pm and (DELTA)Pn, such an allocation shall be made as close as
possible to the formula allocation within the requirement that (DELTA)Yk <
(DELTA)Pk, (DELTA)Yl < (DELTA)Pl, (DELTA)Ym < (DELTA)Pm and (DELTA)Yn <
(DELTA)Pn.

NOTES:

1. Uncertificated Lower-Tier Regular Interests Y-AA and Z-AA are related to Loan
Group AA. The sum of the Uncertificated Principal Balances of Uncertificated
Lower-Tier Regular Interests Y-AA and Z-AA is equal to the aggregate stated
principal balance of the Mortgage Loans in Loan Group AA. Uncertificated
Lower-Tier Regular Interests Y-BB and Z-BB are related to Loan Group BB. The sum
of the Uncertificated Principal Balances of Uncertificated Lower-Tier Regular
Interests Y-BB and Z-BB is equal to the aggregate stated principal balance of
the Mortgage Loans in Loan Group BB. Uncertificated Lower-Tier Regular Interests
Y-CC and Z-CC are related to Loan Group CC. The sum of the Uncertificated
Principal Balances of Uncertificated Lower-Tier Regular Interests Y-CC and Z-C
is equal to the aggregate stated principal balance of the Mortgage Loans in Loan
Group CC. Uncertificated Lower-Tier Regular Interests Y-DD and Z-DD are related
to Loan Group DD. The sum of the Uncertificated Principal Balances of
Uncertificated Lower-Tier Regular Interests Y-DD and Z-D is equal to the
aggregate stated principal balance of the Mortgage Loans in Loan Group DD. The
Uncertificated Lower-Tier Regular Interests will be principal and interest
classes bearing interest at the pass-through rate for the related Loan Group.

2. The Class B pass-through rate is the weighted average of the pass-through
rates on the Uncertificated Lower-Tier Y Regular Interests.Exhibit 4.3

                       WACHOVIA MORTGAGE LOAN TRUST, LLC,

                                  as Purchaser,

                                       and

                      WACHOVIA BANK, NATIONAL ASSOCIATION,

                                    as Seller

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

                        MORTGAGE LOAN PURCHASE AGREEMENT
             ------------------------------------------------------------------

                           Dated as of August 24, 2005

<PAGE>

                                TABLE OF CONTENTS

                                                                            Page

                                        i

SECTION 1.            Definitions..............................................1

SECTION 2.            Purchase and Sale of the Mortgage Loans..................4

SECTION 3.            Mortgage Loan Schedule...................................6

SECTION 4.            Allocation of Payments; Mortgage Loan Files..............6

SECTION 5.            Material Defects.........................................7

SECTION 6.            Recordation of Assignments of Mortgages..................9

SECTION 7.            Representations and Warranties of Seller Concerning the
                       Mortgage Loans.........................................10

SECTION 8.            Representations and Warranties Concerning the Seller....14

SECTION 9.            Representations and Warranties Concerning the Purchaser.16

SECTION 10.           Conditions to Closing...................................17

SECTION 11.           Notices.................................................19

SECTION 12.           Assignment by Purchaser.................................19

SECTION 13.           Representations, Warranties and Agreements to
                       Survive Delivery.......................................19

SECTION 14.           Severability............................................19

SECTION 15.           Counterparts............................................19

SECTION 16.           Amendment...............................................19

SECTION 17.           GOVERNING LAW...........................................20

SECTION 18.           Further Assurances......................................20

SECTION 19.           Successors and Assigns..................................20

SECTION 20.           Maintain Rights in Effect...............................20

SECTION 21.           Entire Agreement........................................20

SECTION 22.           No Partnership..........................................20

<PAGE>

                            EXHIBITS AND SCHEDULE TO
                        MORTGAGE LOAN PURCHASE AGREEMENT

Exhibit 1         Mortgage Loan Schedule Information
Exhibit 2         Schedule of Lost Notes
Exhibit 3         S&P LEVELS(R) Glossary, Version 5.6(c) Revised, Appendix E
Schedule A        Mortgage Loan Schedule

<PAGE>

                        MORTGAGE LOAN PURCHASE AGREEMENT

                  MORTGAGE LOAN PURCHASE AGREEMENT, dated as of August 24, 2005,
as amended and supplemented by any and all amendments hereto (collectively, the
"Agreement"), by and between WACHOVIA BANK, NATIONAL ASSOCIATION, a national
banking association (the "Seller"), and WACHOVIA MORTGAGE LOAN TRUST, LLC, a
Delaware limited liability company (the "Purchaser").

                  Upon the terms and subject to the conditions of this
Agreement, the Seller agrees to sell, and the Purchaser agrees to purchase,
certain conventional, adjustable rate, first lien mortgage loans secured
primarily by one- to four-family residential properties as described herein. The
Purchaser intends to sell the Mortgage Loans to U.S. Bank National Association,
as trustee under the Pooling and Servicing Agreement, dated as of August 24,
2005 (the "Pooling and Servicing Agreement"), among the Purchaser, as depositor,
the Seller, as certificate administrator, Wells Fargo Bank, N.A. and National
City Mortgage Co., as servicers, and U.S. Bank National Association, as trustee.

                  Now, therefore, in consideration of the premises and the
mutual agreements set forth herein, the parties hereto agree as follows:

     SECTION 1. Definitions. The following terms are defined as follows:

                  Agreement: The meaning set forth in the preambles hereto.

                  Closing Date: August 24, 2005.

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

                  Custodian: The Custodian under the Pooling and Servicing
Agreement.

                  Cut-off Date: August 1, 2005.

                  Deleted  Mortgage  Loan:  A Mortgage  Loan  replaced or to be
replaced by a  Substitute  Mortgage Loan.

                  Material Defect: The meaning set forth in Section 5(ii).

                  MERS: Mortgage Electronic Registration Systems, Inc.

                  Mortgage: The mortgage, deed of trust or instrument creating a
lien on an interest in Mortgaged Property securing a Mortgage Note or creating a
lien on a leasehold interest.

                  Mortgage File: The following documents:

                  (i) the original Mortgage Note, endorsed by manual or
facsimile signature either (A) in blank or (B) in the following form: "Pay to
the order of U.S. Bank, National Association, as Trustee, without recourse,"
with all necessary intervening endorsements showing a complete chain of
endorsement from the originator to the Trustee (each such endorsement being
sufficient to transfer all right, title and interest of the party so endorsing
in and to that Mortgage Note);

                  (ii) the original recorded Mortgage with evidence of a
recording thereon, or if any such Mortgage has not been returned from the
applicable recording office or has been lost, or if such public recording office
retains the original recorded Mortgage, a copy of such Mortgage certified by the
Seller as being a true and correct copy of the Mortgage, if such copy is
available;

                  (iii) a duly executed assignment of mortgage to "U.S. Bank,
National Association, as trustee for the holders of the Wachovia Mortgage Loan
Trust, LLC Mortgage Pass-Through Certificates, Series 2005-A Certificates"
(which may be included in a blanket assignment or assignments), together with,
except as provided below, originals of all interim recorded assignments of such
mortgage or copies of such interim assignments certified by the Seller as being
true and complete copies of the original recorded intervening assignments of
Mortgage (each such assignment, when duly and validly completed, to be in
recordable form and sufficient to effect the assignment of the related Mortgage
to the assignee thereof); provided that, if the related Mortgage has not been
returned from the applicable public recording office, such assignment of
mortgage may exclude the information to be provided by the recording office; and
provided, further, if the related Mortgage has been recorded in the name of MERS
or its designee, no assignment of mortgage in favor of the Trustee is required;

                  (iv) the originals of all assumption, modification,
consolidation or extension agreements, if any, with evidence of recording
thereon, if any;

                  (v)      the original or  duplicate  original mortgagee title
insurance  policy and all riders thereto;
                  (vi) the original of any guarantee executed in connection with
the Mortgage Note;

                  (vii) for each Mortgage Loan, if any, which is secured by a
residential long-term lease, a copy of the lease with evidence of recording
indicated thereon, or, if the lease is in the process of being recorded, a
photocopy of the lease, certified by an officer of the respective prior owner of
such Mortgage Loan or by the applicable title insurance company,
closing/settlement/escrow agent or company or closing attorney to be a true and
correct copy of the lease transmitted for recordation;

                  (viii) the original of any security agreement, chattel
mortgage or equivalent document executed in connection with the Mortgage; and

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

                  (A) The stock certificate;

                  (B) The stock power executed in blank;

                  (C) The executed proprietary lease;

                  (D) The executed recognition agreement;

                  (E) The executed assignment of recognition agreement, if any;

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

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

                  Mortgage Interest Rate: As to any Mortgage Loan, the per annum
rate of interest at which interest accrues on the principal balance of such
Mortgage Loan, as adjusted from time to time in accordance with the provisions
of the related Mortgage Note.

                  Mortgage Loans: The mortgage loans listed on the Mortgage
Loan Schedule.

                  Mortgage Loan Schedule: The list of Mortgage Loans, as from
time to time amended by the Seller to reflect the addition of Substitute
Mortgage Loans and the deletion of Deleted Mortgage Loans pursuant to the
provisions of this Agreement, attached hereto as Schedule A.

                  Mortgage Note: The originally executed note or other evidence
of indebtedness evidencing the indebtedness of a Mortgagor under a Mortgage
Loan, together with all riders thereto and amendments thereof.

                  Mortgaged Property:  The property securing a Mortgage Loan.

                  Mortgagor:  The obligor on a Mortgage Note.

                  Opinion of  Counsel:  A written  opinion  of  counsel,
who may be counsel  for the Seller or the Purchaser, reasonably acceptable to
 the Purchaser.

                  Person: Any individual, corporation, limited liability
company, partnership, joint venture, association, joint-stock company, trust,
unincorporated organization, government or any agency or political subdivision
thereof, or any other organization or entity of any type, whether or not a legal
entity.

                  Pooling and Servicing Agreement: The meaning set forth in the
preambles hereto.

                  Prospectus Supplement: The supplement, dated August 22, 2005
to the Prospectus, dated July 21, 2005, relating to certain classes of the
certificates issued under the Pooling and Servicing Agreement.

                  Purchase Price: The meaning specified in Section 2(ii).

                  Purchaser: The meaning set forth in the preambles hereto.

                  Remittance Date: As to any Distribution Date (as such term is
defined in the Pooling and Servicing Agreement in effect as of the date hereof),
by 2:00 p.m. Eastern time on the second Business Day immediately preceding such
Distribution Date.

                  Repurchase Price: With respect to any Mortgage Loan (or any
property acquired with respect thereto) required to be purchased by the Seller
pursuant to this Agreement, an amount equal to the sum of (i)(a) the unpaid
principal balance of such Mortgage Loan as of the date of repurchase (or if the
related Mortgaged Property was acquired by the Purchaser or its assignee, the
unpaid principal balance at the date of the acquisition), plus (b) accrued but
unpaid interest on the principal balance at the related Mortgage Interest Rate
through and including the last day of the month of repurchase, and (ii) any
costs and damages incurred by the Purchaser in connection with a breach of the
representation contained in Section 7(iii) as a result of any violation of any
predatory or abusive lending law with respect to such Mortgage Loan.

                 Seller: The meaning set forth in the preambles hereto.

                 Servicer: The applicable Servicer under the Pooling and
Servicing Agreement.

                 Substitute Mortgage Loan: A mortgage loan substituted for a
Deleted Mortgage Loan pursuant to the provisions of this Agreement. Upon such
substitution, such mortgage loan shall be a "Mortgage Loan" hereunder.

                 Substitution Adjustment Amount: The meaning specified in
Section 5(v).

                 Transferred Property: The meaning specified in Section 2(i).

                 Trustee: The Trustee under the Pooling and Servicing Agreement.

     SECTION 2. Purchase and Sale of the Mortgage Loans.

(i) The Seller does hereby sell, assign, set over, transfer, and otherwise
convey to the Purchaser on the Closing Date, without recourse (except as
expressly provided herein), all of its right, title and interest, in, to and
under the following: (A) the Mortgage Loans (including the related Mortgage Note
and Mortgage, all monies due or to become due on the Mortgage Loans (other than
payments of principal and interest due and payable on or before the Cut-off
Date), and all collections on the Mortgage Loans received after the Cut-off Date
(other than payments of principal and interest due and payable on or before the
Cut-off Date)); (B) any insurance policies in respect of the Mortgage Loans; and
(C) all proceeds of the foregoing (collectively, the "Transferred Property").

(ii) The purchase price (the "Purchase Price") for the Mortgage Loans and the
related Transferred Property to be paid by the Purchaser to the Seller on the
Closing Date shall be (A) a 0.01% Percentage Interest in the Class 1-A-R
Certificates (as such terms are defined in the Pooling and Servicing Agreement
in effect as of the date hereof) and (B) an amount equal to $444,199,615.26.

(iii) In consideration of the sale of the Mortgage Loans and the related
Transferred Property by the Seller to the Purchaser on the Closing Date, the
Purchaser shall pay to the Seller on the Closing Date by wire transfer of
immediately available funds to a bank account designated by the Seller, the
Purchase Price.

(iv) It is the express intent of the parties hereto that the transfer of the
Mortgage Loans by the Seller to the Purchaser pursuant to this Section 2 be, and
be construed as, an absolute sale of the Mortgage Loans by the Seller to the
Purchaser, including for accounting purposes, and not a secured borrowing. It
is, further, not the intention of the parties that such transfer be deemed the
grant of a security interest in the Mortgage Loans by the Seller to the
Purchaser to secure a debt or other obligation of the Seller. However, in the
event that, notwithstanding the intent of the parties, the Mortgage Loans are
held to be the property of the Seller, or if for any other reason this Agreement
is held or deemed to create a security interest in the Mortgage Loans, then: (1)
this Agreement shall constitute a security agreement, and (2) the transfer of
the Mortgage Loans provided for in this Section 2 shall be deemed to be a grant
by the Seller to the Purchaser of, and the Seller hereby grants to the
Purchaser, to secure all of the Seller's obligations hereunder, a security
interest in all of the Seller's right, title, and interest, whether now owned or
hereafter acquired, in and to (i)-the Mortgage Loans, (ii) all accounts, chattel
paper, deposit accounts, documents, general intangibles, goods, instruments,
investment property, letter-of-credit rights, letters of credit, money, and oil,
gas, and other minerals, consisting of, arising from, or relating to, any of the
foregoing; and (iii) all proceeds of the foregoing.

(v) The Seller shall file such financing statements, and the Seller and the
Purchaser shall, to the extent consistent with this Agreement, take such other
actions as may be necessary to ensure that, if this Agreement were found to
create a security interest in the Mortgage Loans, such security interest would
be a perfected security interest of first priority under applicable law and will
be maintained as such throughout the term of the Agreement. In connection
herewith, the Purchaser shall have all of the rights and remedies of a secured
party under the Uniform Commercial Code as in force in the relevant
jurisdiction.
(vi) Concurrently herewith, the Purchaser has contracted to sell the Mortgage
Loans and other Transferred Property to the Trustee pursuant to the Pooling and
Servicing Agreement. To avoid the unnecessary expense and administrative
inconvenience associated with the execution and recording of multiple assignment
documents, the Seller may execute one or more assignments of mortgages in blank
or naming the Trustee as assignee, and may endorse the Mortgage Notes in blank
or to the Trustee. Notwithstanding the fact that such assignments of mortgages
name the Trustee as assignee and that Mortgage Notes are endorsed to the
Trustee, the parties hereto acknowledge and agree that the Mortgage Loans for
all purposes have been transferred from the Seller to the Purchaser and from the
Purchaser to the Trustee.

SECTION 3. Mortgage Loan Schedule. The initial Mortgage Loan Schedule shall be
prepared by the Seller and shall set forth the information listed on Exhibit 1
to this Agreement with respect to each of the Mortgage Loans being sold by the
Seller hereunder.

     SECTION 4. Allocation of Payments; Mortgage Loan Files.

(i) The Purchaser will be entitled to all payments of principal and interest on
the Mortgage Loans due after the Cut-off Date, regardless of when actually
collected, and all collections in respect of the Mortgage Loans received after
the Cut-off Date, other than payments of principal and interest due and payable
on or before the Cut-off Date. The Seller will be entitled to all scheduled
payments of principal and interest on the Mortgage Loans due on or before the
Cut-off Date, including payments of such collected after the Cut-off Date. Such
principal and interest belonging to the Seller as described above will not be
included in the aggregate principal balance of the Mortgage Loans as of the
Cut-off Date as set forth on the initial Mortgage Loan Schedule.

(ii) In connection with the transfer and assignment of the Mortgage Loans, the
Seller shall deliver or cause to be delivered to the Custodian on behalf of the
Trustee as assignee of the Purchaser by the Closing Date, the documents required
to be included in each Mortgage File; provided, however, that in lieu of the
foregoing, the Seller may deliver the following documents, under the
circumstances set forth below: (x) in lieu of the original Mortgage, the
assignment to the Trustee of such Mortgage, or intervening assignments thereof,
which have been delivered, are being delivered or will, upon receipt of
recording information relating to the Mortgage required to be included thereon,
be delivered to recording offices for recording and have not been returned to
the Seller in time to permit their delivery as specified above, the Seller may
deliver a true copy thereof with a certification by the Seller, on the face of
such copy, substantially as follows: "Certified to be a true and correct copy of
the original, which has been transmitted for recording"; (y) in lieu of the
Mortgage, the assignment to the Trustee of such Mortgage, or intervening
assignments thereof, if the applicable jurisdiction retains the originals of
such documents (as evidenced by a certification from the Seller to such effect)
the Seller may deliver photocopies of such documents containing an original
certification by the recording office of the jurisdiction where such documents
were recorded; and (z) in lieu of the Mortgage Notes relating to the Mortgage
Loans, each identified in the list attached hereto as Exhibit 2, the Seller may
deliver lost note affidavits and indemnities of the Seller; and provided
further, however, that in the case of Mortgage Loans which have been prepaid in
full after the Cut-off Date and prior to the Closing Date, the Seller, in lieu
of delivering the above documents, may deliver to the Trustee and the Custodian
a certification by the Seller or the Servicer servicing such Mortgage Loan to
such effect. The Seller shall deliver such original documents (including any
original documents as to which certified copies had previously been delivered)
or such certified copies to the Custodian promptly after they are received. The
Seller shall cause the Mortgage and intervening assignments, if any, to be
recorded not later than 180 days after the Closing Date, unless such assignment
is not required to be recorded under the terms set forth in Section 6(i).

     SECTION 5. Material Defects.

(i) On or before the Closing Date, the Seller shall make the Mortgage Files
available to the Purchaser or its agent for examination, which examination may
be at the offices of the Custodian or the Seller. The fact that the Purchaser or
its agent has conducted or has failed to conduct any partial or complete
examination of the Mortgage Files shall not affect the Purchaser's rights to
demand cure, repurchase, substitution or other relief as provided in this
Agreement.

(ii) If any document is missing, has not been executed, is unrelated, determined
on the basis of the Mortgagor name, original principal balance and loan number,
to the Mortgage Loans identified in the Mortgage Loan Schedule (a "Material
Defect"), the Purchaser or its assignee shall promptly notify the Seller in
writing of such Material Defect. The Seller shall correct or cure any such
Material Defect within 90 days from the date of notice of the Material Defect
and if the Seller does not correct or cure such Material Defect within such
period and such defect materially and adversely affects the interests of the
Purchaser or its assignee in the related Mortgage Loan, the Seller will either
(a) substitute for the related Mortgage Loan a Substitute Mortgage Loan, which
substitution shall be accomplished in the manner and subject to the conditions
set forth in this Section 5 or (b) purchase such Mortgage Loan from the
Purchaser or its assignee at the Repurchase Price for such Mortgage Loan;
provided that, if such defect would cause the Mortgage Loan to be other than a
"qualified mortgage" as defined in Section 860G(a)(3) of the Internal Revenue
Code, any such cure, repurchase or substitution must occur within 90 days from
the date such breach was discovered; provided, further that if such defect
relates solely to the inability of the Seller to deliver the original Mortgage
or intervening assignments thereof, or a certified copy, because the originals
of such documents, or a certified copy, have not been returned by the applicable
recording office, the Seller shall not be required to purchase such Mortgage
Loan if the Seller delivers such original documents or certified copy promptly
upon receipt, but in no event later than 360 days after the Closing Date. The
foregoing repurchase or substitution obligation shall not apply in the event
that the Seller cannot deliver such original or copy of any document submitted
for recording to the appropriate recording office in the applicable jurisdiction
because such document has not been returned by such office; provided that the
Seller shall instead deliver a recording receipt of such recording office or, if
such receipt is not available, a certificate of the Seller or the applicable
Servicer confirming that such documents have been accepted for recording, and
delivery to the Trustee or the Custodian, as assignee of the Purchaser, shall be
effected by the Seller within thirty days of its receipt of the original
recorded document.

(iii) With respect to each Substitute Mortgage Loan, the Seller shall promptly
deliver to the Custodian, on behalf of the Trustee as assignee of the Purchaser,
the Mortgage Note, the Mortgage, and the other documents required to be included
in the related Mortgage File, with the Mortgage Note endorsed and the Mortgage
assigned as required by the definition of Mortgage File. Payments due with
respect to any such Substitute Mortgage Loan in the month of substitution shall
be retained by the Seller and not transferred to the Purchaser. For the month of
substitution, collections on the Mortgage Loans will include the scheduled
payment due for such month on any Deleted Mortgage Loan for which the Seller has
substituted a Substitute Mortgage Loan.

(iv) The Seller shall amend the Mortgage Loan Schedule to reflect the repurchase
or transfer to the Seller of each Mortgage Loan that has become a Deleted
Mortgage Loan and the substitution of the Substitute Mortgage Loans and the
Seller shall deliver the amended Mortgage Loan Schedule to the Purchaser, with a
copy to each of the Trustee and the Custodian. Upon such substitution, each
Substitute Mortgage Loan shall be subject to the terms of this agreement in all
respects, and the Seller shall be deemed to have made to the Purchaser with
respect to such Substitute Mortgage Loan, as of the date of substitution, the
representations and warranties set forth in Section-7. Upon any such
substitution and the payment to the Trustee as assignee of the Purchaser of the
Repurchase Price or of any required Substitution Adjustment Amount, the
Purchaser shall cause the Custodian to release the Mortgage File relating to
such Deleted Mortgage Loan to the Seller and the Purchaser and its assignees, as
applicable, shall execute and deliver at the Seller's direction such instruments
of transfer or assignment prepared by the Seller, in each case without recourse,
as shall be necessary to transfer to the Seller, or its designee, any Defective
Mortgage Loan substituted for or repurchased pursuant to this Section 5.

(v) For any month in which the Seller substitutes one or more Substitute
Mortgage Loans for one or more Deleted Mortgage Loans, the amount (if any) by
which the aggregate unpaid principal balance of all such Substitute Mortgage
Loans as of the date of substitution is less than the aggregate unpaid principal
balance of all such Deleted Mortgage Loans after application of the principal
portion of the scheduled payments due in the month of substitution (the
"Substitution Adjustment Amount") shall be paid to the Trustee as assignee of
the Purchaser by the Seller on or before the Remittance Date in the month
succeeding the calendar month during which the related Mortgage Loan is required
to be purchased or replaced hereunder.

     SECTION 6. Recordation of Assignments of Mortgages.

     (i) The Seller shall,  promptly after the Closing Date, cause each Mortgage
and  each  assignment  of  Mortgage  from the  Seller  to the  Trustee,  and all
unrecorded intervening assignments, if any, delivered on or prior to the Closing
Date, to be recorded in the  recording  offices in the  jurisdictions  where the
related Mortgaged Properties are located; provided, however, the Seller need not
cause to be recorded any assignment which relates to a Mortgage Loan if (a) such
recordation  is not  required  by the rating  agencies  rating the  certificates
issued  under the Pooling and  Servicing  Agreement or an Opinion of Counsel has
been provided to the Purchaser, the Trustee, and the Custodian which states that
the  recordation of such  assignment is not necessary to protect the interest of
the  Purchaser  or its  assignee  in the  related  Mortgage  Loan or (b) MERS is
identified on the Mortgage or a properly recorded  assignment of the Mortgage as
the mortgagee of record; provided, however,  notwithstanding the delivery of any
Opinion of  Counsel,  any  assignment  of  Mortgage  that has not been  recorded
pursuant to clause (a) shall be  submitted  for  recording  by the Seller in the
manner described above, at the Seller's expense, upon 60 days' written notice to
the Seller from the Purchaser or its assignee.

     (ii)  While  each  such  Mortgage  or  assignment  is  being  recorded,  if
necessary,  the  Seller  shall  leave or cause to be left with the  Custodian  a
certified  copy of such Mortgage or  assignment.  In the event that,  within 180
days of the Closing Date, the Purchaser, the Trustee, and the Custodian have not
been provided an Opinion of Counsel as described in  subsection  (i) or received
evidence of recording  with respect to each  Mortgage Loan pursuant to the terms
hereof,  the failure to provide evidence of recording or such Opinion of Counsel
(in the alternative, if required) shall be considered a Material Defect, and the
provisions of Section 5 shall apply. All customary recording fees and reasonable
expenses  relating  to the  recordation  of the  assignments  of mortgage to the
Trustee or the  Opinion of  Counsel,  as the case may be,  shall be borne by the
Seller.

     SECTION 7. Representations and Warranties of Seller Concerning the Mortgage
Loans.  The Seller  hereby  represents  and warrants to the  Purchaser as of the
Closing Date, or such other date prior thereto as may be specified  below,  with
respect to each Mortgage Loan:

     (i) the  information set forth in the Mortgage Loan Schedule hereto is true
and correct in all material respects and all information  provided by the Seller
to the Purchaser regarding the Mortgage Loans, including the Mortgage Loan level
detail, is true and correct in all material respects;

     (ii) immediately prior to the transfer to the Purchaser, the Seller was the
sole  owner and  holder of each  Mortgage  and  Mortgage  Note  relating  to the
Mortgage  Loans and is conveying the same to the Purchaser free and clear of any
and all liens, claims, encumbrances, participation interests, equities, pledges,
charges or  security  interests  of any nature and the Seller has full right and
authority to sell or assign the same pursuant to this Agreement;

     (iii) each  Mortgage  Loan at the time it was made complied in all material
respects  with  all  applicable  laws  and   regulations,   including,   without
limitation,  usury, equal credit opportunity,  disclosure and recording laws and
all  predatory  lending  laws;  and each  Mortgage Loan has been serviced in all
material  respects  in  accordance  with all  applicable  laws and  regulations,
including, without limitation,  usury, equal credit opportunity,  disclosure and
recording  laws and all  predatory  lending  laws and the  terms of the  related
Mortgage Note, the Mortgage and other loan documents;

     (iv)  there is no  monetary  default  existing  under any  Mortgage  or the
related Mortgage Note and there is no material event which,  with the passage of
time or with  notice  and the  expiration  of any  grace or cure  period,  would
constitute a default,  breach or event of acceleration;  and neither the Seller,
any of its  affiliates  nor any servicer of any related  Mortgage Loan has taken
any action to waive any default, breach or event of acceleration; no foreclosure
action is threatened or has been commenced with respect to the Mortgage Loan;

     (v) the terms of the Mortgage Note and the Mortgage have not been impaired,
waived, altered or modified in any respect,  except by written instruments,  (i)
if required by law in the jurisdiction  where the Mortgaged Property is located,
or (ii) to protect the interests of the Purchaser or its assignees;

     (vi) no selection procedure reasonably believed by the Seller to be adverse
to the interests of the Purchaser or its assignees was utilized in selecting the
Mortgage Loans;

     (vii) each Mortgage is a valid and  enforceable  first lien on the property
securing the related  Mortgage Note and each Mortgaged  Property is owned by the
Mortgagor  in fee simple  (except  with  respect to common  areas in the case of
condominiums,  PUDs and de minimis  PUDs) or by leasehold for a term longer than
the term of the related  Mortgage,  subject only to (i) the lien of current real
property taxes and  assessments,  (ii) covenants,  conditions and  restrictions,
rights of way,  easements  and other  matters of public record as of the date of
recording of such Mortgage, such exceptions being acceptable to mortgage lending
institutions  generally or specifically  reflected in the appraisal  obtained in
connection with the  origination of the related  Mortgage Loan or referred to in
the lender's title insurance  policy  delivered to the originator of the related
Mortgage  Loan and  (iii)-other  matters to which like  properties  are commonly
subject  which do not  materially  interfere  with the  benefits of the security
intended  to be  provided  by such  Mortgage,  except as  enforceability  may be
limited  by  bankruptcy,  insolvency,  liquidation,   receivership,  moratorium,
reorganization  or other similar laws affecting the enforcement of the rights of
creditors and by general principles of equity, whether in a proceeding in equity
or at law;

     (viii)  there is no  mechanics'  lien or claim for work,  labor or material
affecting the premises  subject to any Mortgage  which is or may be a lien prior
to, or equal  with,  the lien of such  Mortgage  except  those which are insured
against by the title insurance policy referred to in (xiii) below;

     (ix) as of the Cut-off Date, to the best of the Seller's  knowledge,  there
was no  delinquent  tax or assessment  lien against the property  subject to any
Mortgage,  except  where such lien was being  contested in good faith and a stay
had been granted against levying on the property;

     (x) there is no valid offset,  defense or counterclaim to any Mortgage Note
or  Mortgage,  including  the  obligation  of the  Mortgagor  to pay the  unpaid
principal and interest on such Mortgage Note;

     (xi)  except to the  extent  insurance  is in place  which  will cover such
damage, each Mortgaged Property is free of material damage and is in good repair
and there is no  proceeding  pending  or  threatened  for the  total or  partial
condemnation of any Mortgaged Property;

     (xii) 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;

     (xiii) a  lender's  title  insurance  policy  (on an ALTA or CLTA  form) or
binder,  or other  assurance of title  customary  in the  relevant  jurisdiction
therefor in a form  acceptable  to Fannie Mae or the Federal Home Loan  Mortgage
Corporation,  was issued on the date that each Mortgage Loan was originated by a
title  insurance  company  which,  to the best of the  Seller's  knowledge,  was
qualified  to do  business  in the  jurisdiction  where  the  related  Mortgaged
Property is located, insuring the Seller and its successors and assigns that the
Mortgage  is a first  priority  lien on the  related  Mortgaged  Property in the
original  principal  amount of the Mortgage Loan. The Seller is the sole insured
under such lender's title insurance policy, and such policy, binder or assurance
is valid and remains in full force and effect,  and each such policy,  binder or
assurance  shall  contain  all  applicable  endorsements  including  a  negative
amortization endorsement, if applicable;

     (xiv) at the time of origination,  each Mortgaged  Property was the subject
of an  appraisal  which  conformed  to  the  underwriting  requirements  of  the
originator of the Mortgage Loan;

     (xv) as of the Closing Date, the  improvements  on each Mortgaged  Property
securing a Mortgage  Loan are insured (by an insurer  which is acceptable to the
Seller)  against loss by fire and such  hazards as are covered  under a standard
extended coverage  endorsement in the locale in which the Mortgaged  Property is
located, in an amount which is not less than the lesser of the maximum insurable
value of the  improvements  securing such Mortgage Loan or the Stated  Principal
Balance of the Mortgage  Loan,  but in no event in an amount less than an amount
that is required to prevent the  Mortgagor  from being deemed to be a co-insurer
thereunder;  if the improvement on the Mortgaged Property is a condominium unit,
it is  included  under  the  coverage  afforded  by a  blanket  policy  for  the
condominium  project;  if upon  origination  of the related  Mortgage  Loan, the
improvements on the Mortgaged Property were in an area identified as a federally
designated  flood  area,  a flood  insurance  policy  is in  effect in an amount
representing  coverage  not less  than the  least  of (i) the  unpaid  principal
balance of the Mortgage Loan, (ii) the restorable  cost of improvements  located
on such Mortgaged Property or (iii) the maximum coverage available under federal
law;  and each  Mortgage  obligates  the  Mortgagor  thereunder  to maintain the
insurance referred to above at the Mortgagor's cost and expense;

     (xvi) each Mortgage Loan  constitutes a "qualified  mortgage" under Section
860G(a)(3)(A)  of the  Internal  Revenue Code and  Treasury  Regulation  Section
1.860G-2(a)(1),  (2),  (4),  (5),  (6),  (7) and (9),  without  reliance  on the
provisions of Treasury Regulation Section  1.860G-2(a)(3) or Treasury Regulation
Section  1.860G-2(f)(2)  or any other provision that would allow a Mortgage Loan
to be treated as a "qualified mortgage"  notwithstanding its failure to meet the
requirements of Section  860G(a)(3)(A) of the Internal Revenue Code and Treasury
Regulation Section 1.860G-2(a)(1), (2), (4), (5), (6), (7) and (9);

     (xvii) each  Mortgage  Loan was  originated  or funded by (a) a savings and
loan association, savings bank, commercial bank, credit union, insurance company
or similar  institution  which is supervised  and examined by a federal or state
authority  (or   originated  by  (i)  a  subsidiary  of  any  of  the  foregoing
institutions which subsidiary is actually  supervised and examined by applicable
regulatory  authorities  or (ii) a  mortgage  loan  correspondent  of any of the
foregoing and that was originated pursuant to the criteria established by any of
the foregoing) or (b) a mortgagee approved by the Secretary of Housing and Urban
Development  pursuant to Sections  203 and 211 of the  National  Housing Act, as
amended;

     (xviii) none of the Mortgage  Loans are (a) loans subject to 12 CFR Section
226.31, 12 CFR Section 226.32 or 12 CFR Section 226.34, as amended, or (b) "high
cost home,"  "covered"  (excluding home loans defined as "covered home loans" in
the New Jersey Home Ownership  Security Act of 2002 that were originated between
November 26, 2003 and July 7, 2004), "high risk home" or "predatory" loans under
any applicable state, federal or local law (or a similarly classified loan using
different  terminology under a law imposing  heightened  regulatory  scrutiny or
additional  legal liability for residential  mortgage loans having high interest
rates, points and/or fees);

     (xix) no  Mortgage  Loan (a) is a "high  cost  loan" or  "covered  loan" as
applicable (as such terms are defined in S&P LEVELS(R) Glossary,  Version 5.6(c)
Revised as of August 1, 2005, Appendix E, attached hereto as Exhibit 3, or, with
respect to a Substitute  Mortgage Loan, as such terms are defined in the version
of the S&P LEVELS(R) Glossary in effect at the time such Mortgage Loan becomes a
Substitute  Mortgage  Loan) or (b) was  originated  on or after  October 1, 2002
through March 6, 2003 and is governed by the Georgia Fair Lending Act;

     (xx) the information set forth in Annex I of the Prospectus Supplement with
respect to the Mortgage Loans is true and correct in all material respects;

     (xxi) each Mortgage Loan was originated in accordance with the underwriting
guidelines of the related originator;

     (xxii) each  original  Mortgage  has been  recorded or is in the process of
being  recorded in accordance  with the  requirements  of this  Agreement in the
jurisdiction where the related Mortgaged Property is located;

     (xxiii)  the related  Mortgage  File  contains  each of the  documents  and
instruments  listed  in the  definition  thereof,  subject  to  any  exceptions,
substitutions and qualifications as are set forth in this Agreement;

     (xxiv) the Mortgage Loans are currently  being serviced in accordance  with
accepted servicing practices;

     (xxv) at the time of origination,  each Mortgaged  Property was the subject
of an  appraisal  which  conformed  to  the  underwriting  requirements  of  the
originator  of the  Mortgage  Loan,  and the  appraisal  is in a form  which was
acceptable  to Fannie Mae or the Federal Home Loan Mortgage  Corporation  at the
time of origination; and

     (xxvi) none of the Mortgage  Loans that are secured by property  located in
the  State of  Illinois  are in  violation  of the  provisions  of the  Illinois
Interest Act.

     It is understood  and agreed that the  representations  and  warranties set
forth in this  Section 7 will  inure to the  benefit  of the  Purchaser  and its
successors and assigns, notwithstanding any restrictive or qualified endorsement
on any  Mortgage  Note or  assignment  of  Mortgage  or the  examination  of any
Mortgage File. Upon any  substitution  for a Mortgage Loan, the  representations
and  warranties  set forth  above shall be deemed to be made by the Seller as to
any Substitute Mortgage Loan as of the date of substitution.

     Upon  discovery  by the  Seller  or upon  notice  to the  Seller  from  the
Purchaser,  the Trustee,  or a Servicer of a breach of the  Seller's  respective
representations  or  warranties  set  forth in  Section  7 that  materially  and
adversely  affects  the  interests  of the  Purchaser  or its  assignees  in any
Mortgage Loan, the Seller shall,  within 90 days from the earlier of the date of
discovery by the Seller of such breach and the date the Seller receives  written
notice of such  breach,  (i) cure such  breach in all  material  respects,  (ii)
purchase the affected Mortgage Loan at the applicable  Repurchase Price or (iii)
if within two years of the Closing  Date,  substitute  a  qualifying  Substitute
Mortgage Loan in exchange for such Mortgage Loan. The  obligations of the Seller
to cure,  purchase or  substitute a qualifying  Substitute  Mortgage  Loan shall
constitute  the sole and  exclusive  remedies of the  Purchaser or its assignees
respecting a breach of representations  or warranties  hereunder with respect to
the Mortgage Loans. A breach of the  representations  and warranties made in any
of clause (xviii) or (xix)(b) of this Section 7 will be deemed to materially and
adversely affect the value of the interests of the Purchaser or its assignees in
the related Mortgage Loan. Any repurchase or substitution  required  pursuant to
this  Section 7 shall be carried  out in  accordance  with the  requirements  of
Section 5.

     Any cause of action  against  the Seller  relating  to or arising  out of a
breach by the Seller of any  representations and warranties made in this Section
7 shall accrue as to any Mortgage  Loan upon (i) discovery of such breach by the
Seller or written notice thereof by the party  discovering  such breach and (ii)
failure  by the  Seller to cure such  breach,  purchase  such  Mortgage  Loan or
substitute a qualifying Substitute Mortgage Loan pursuant to the terms hereof.

     SECTION 8. Representations and Warranties  Concerning the Seller. As of the
Closing Date, the Sellerrepresents and warrants to the Purchaser as follows:

     (i) The Seller is a national banking association duly organized and validly
existing  under the laws of the United  States of America  and is in  compliance
with the laws of each state in which any  Mortgaged  Property  is located to the
extent necessary to ensure the enforceability of each Mortgage Loan;

     (ii) The Seller has the power and authority to make,  execute,  deliver and
perform  its  obligations  under  this  Agreement  and  all of the  transactions
contemplated under this Agreement,  and has taken all necessary corporate action
to authorize the execution, delivery and performance of this Agreement;

     (iii) The Seller is not  required to obtain the consent of any other Person
or any consents, licenses, approvals or authorizations from, or registrations or
declarations  with, any governmental  authority,  bureau or agency in connection
with the execution,  delivery,  performance,  validity or enforceability of this
Agreement, except for such consents, licenses,  approvals or authorizations,  or
registrations or declarations, as shall have been obtained or filed, as the case
may be;

     (iv) The  execution  and  delivery of this  Agreement by the Seller and its
performance and compliance with the terms of this Agreement will not violate the
Seller's  Articles of Association or Bylaws or constitute a material default (or
an event  which,  with  notice or lapse of time,  or both,  would  constitute  a
material  default)  under,  or result in the  material  breach of, any  material
contract,  agreement or other instrument to which the Seller is a party or which
is applicable to the Seller or any of its assets;

     (v) There are no actions,  suits,  proceedings or investigations before any
court, tribunal,  administrative agency, arbitrator or governmental body pending
or, to the best of the Seller's knowledge, threatened, against the Seller, that,
if decided  adversely,  would  materially and adversely affect (A) the condition
(financial or otherwise),  business or operations of the Seller, (B) the ability
of  the  Seller  to  perform  its   obligations   under,   or  the  validity  or
enforceability of, this Agreement or the Pooling and Servicing  Agreement or (C)
the transactions contemplated by this Agreement;

     (vi) This Agreement  constitutes a legal,  valid and binding  obligation of
the Seller,  enforceable against the Seller in accordance with its terms, except
as  enforceability  may  be  limited  by  applicable   bankruptcy,   insolvency,
reorganization,   moratorium  and  other  laws  affecting  the   enforcement  of
creditors' rights in general,  and by general equity  principles,  regardless of
whether such enforceability is considered in a proceeding in equity or at law;

     (vii) This  Agreement  constitutes a valid  transfer and  assignment to the
Purchaser of all right,  title and interest of the Seller in and to the Mortgage
Loans and the  other  Transferred  Property,  and  nothing  has been done by the
Seller to impair the  rights of the  Purchaser  or its  assignees  with  respect
thereto;

     (viii) The Seller is not in default  with respect to any order or decree of
any court or any order, regulation or demand of any federal, state, or municipal
governmental agency, which default might have consequences that would materially
and adversely affect the condition (financial or otherwise) or operations of the
Seller or its  properties  or might  have  consequences  that  would  materially
adversely affect its performance hereunder; and

     (ix) The information in the Prospectus Supplement described in the Sections
entitled  "SUMMARY  OF TERMS -- The  Mortgage  Pool," " THE  MORTGAGE  POOL" and
"ANNEX I --  MORTGAGE  POOL DATA" does not  include  any untrue  statement  of a
material  fact or omit to state a material  fact  necessary in order to make the
statements made, in light of the  circumstances  under which they were made, not
misleading.

     SECTION 9. Representations and Warranties  Concerning the Purchaser.  As of
the  Closing  Date,  the  Purchaser  represents  and  warrants  to the Seller as
follows:

     (i) The  Purchaser  (i) is a  limited  liability  company  duly  organized,
validly  existing and in good  standing  under the laws of the State of Delaware
and (ii) is  qualified  and in good  standing as a foreign  corporation  in each
jurisdiction where such qualification is necessary,  except where the failure so
to qualify would not reasonably be expected to have a material adverse effect on
the Purchaser's business as presently conducted or on the Purchaser's ability to
enter  into this  Agreement  and to  consummate  the  transactions  contemplated
hereby;

     (ii) The Purchaser has full corporate  power to own its property,  to carry
on its  business  as  presently  conducted  and to enter  into and  perform  its
obligations under this Agreement;

     (iii) The execution and delivery by the  Purchaser of this  Agreement  have
been  duly  authorized  by all  necessary  corporate  action  on the part of the
Purchaser;  and neither the  execution  and  delivery by the  Purchaser  of this
Agreement,  nor the  consummation  by the Purchaser of the  transactions  herein
contemplated,  nor compliance by the Purchaser with the provisions hereof,  will
conflict  with or result in a breach of, or constitute a default  under,  any of
the provisions of any law, governmental rule,  regulation,  judgment,  decree or
order  binding  on  the   Purchaser  or  its   properties  or  the  articles  of
incorporation or by-laws of the Purchaser,  except those conflicts,  breaches or
defaults  which would not  reasonably  be  expected  to have a material  adverse
effect on the Purchaser's ability to enter into this Agreement and to consummate
the transactions contemplated hereby;

     (iv) The  execution,  delivery  and  performance  by the  Purchaser of this
Agreement and the consummation by the Purchaser of the transactions contemplated
hereby do not require  the consent or approval  of, the giving of notice to, the
registration  with,  or the taking of any other action in respect of, any state,
federal or other  governmental  authority  or  agency,  except  those  consents,
approvals,  notices,  registrations  or  other  actions  as  have  already  been
obtained, given or made;

     (v) This  Agreement  has been duly  executed and delivered by the Purchaser
and,  assuming  due  authorization,   execution  and  delivery  by  the  Seller,
constitutes a valid and binding obligation of the Purchaser  enforceable against
it in  accordance  with its terms,  except as  enforceability  may be limited by
applicable  bankruptcy,  insolvency,  reorganization,  moratorium and other laws
affecting the enforcement of creditors' rights in general, and by general equity
principles,  regardless  of  whether  such  enforceability  is  considered  in a
proceeding in equity or at law; and

     (vi)  there  are no  actions,  suits  or  proceedings  pending  or,  to the
knowledge of the Purchaser,  threatened, against the Purchaser, before or by any
court,  administrative agency,  arbitrator or governmental body (i) with respect
to any of the  transactions  contemplated by this Agreement or (ii) with respect
to any other matter which in the judgment of the  Purchaser  will be  determined
adversely to the  Purchaser  and will if  determined  adversely to the Purchaser
materially  and  adversely  affect  the  Purchaser's   ability  to  perform  its
obligations  under this  Agreement;  and the  Purchaser  is not in default  with
respect  to any  order  of  any  court,  administrative  agency,  arbitrator  or
governmental  body so as to  materially  and adversely  affect the  transactions
contemplated by this Agreement.

     SECTION 10.  Conditions to Closing.

     (1) The  obligations of the Purchaser  under this Agreement will be subject
to  the  satisfaction,  on or  prior  to the  Closing  Date,  of  the  following
conditions:

          (a) Each of the  obligations of the Seller required to be performed at
     or prior to the Closing Date pursuant to the terms of this Agreement  shall
     have been duly performed and complied with in all material respects; all of
     the representations and warranties of the Seller under this Agreement shall
     be true and correct as of the dates specified in all material respects;  no
     event shall have occurred which,  with notice or the passage of time, would
     constitute a default under this  Agreement;  and the  Purchaser  shall have
     received a certificate  to that effect  signed by an authorized  officer of
     the Seller.

          (b) The Purchaser  shall have  received all of the  following  closing
     documents,  in such forms as are agreed upon and  reasonably  acceptable to
     the Purchaser, duly executed by all signatories other than the Purchaser as
     required pursuant to the respective terms thereof:

               (i) A  certificate  of an officer  of the Seller  dated as of the
          Closing Date, in a form  reasonably  acceptable to the Purchaser,  and
          attached  thereto  copies of the charter and by-laws of the Seller and
          evidence as to the good  standing  of the Seller  dated as of a recent
          date; and

               (ii) One or more opinions of counsel from the Seller's counsel in
          form and substance reasonably satisfactory to the Purchaser.

          (c) The  certificates  to be issued  under the Pooling  and  Servicing
     Agreement and sold to Wachovia  Capital  Markets shall have been issued and
     sold to Wachovia Capital Markets.

          (d) The  Seller  shall  have  furnished  to the  Purchaser  such other
     certificates  of its  officers  or  others  and such  other  documents  and
     opinions of counsel to evidence  fulfillment of the conditions set forth in
     this Agreement and the  transactions  contemplated  hereby as the Purchaser
     and its counsel may reasonably request.

     (2) The  obligations of the Seller under this Agreement shall be subject to
the satisfaction, on or prior to the Closing Date, of the following conditions:

          (a) The obligations of the Purchaser required to be performed by it on
     or prior to the Closing Date pursuant to the terms of this Agreement  shall
     have been duly  performed and complied with in all material  respects,  and
     all of the  representations  and  warranties  of the  Purchaser  under this
     Agreement shall be true and correct in all material respects as of the date
     hereof, and no event shall have occurred which would constitute a breach by
     it of the terms of this  Agreement,  and the Seller  shall have  received a
     certificate  to  that  effect  signed  by  an  authorized  officer  of  the
     Purchaser.

          (b) The Seller  shall  have  received  copies of all of the  following
     closing  documents,  in  such  forms  as are  agreed  upon  and  reasonably
     acceptable to the Seller,  duly executed by all signatories  other than the
     Seller as required pursuant to the respective terms thereof:

               (i) A certificate of an officer of the Purchaser  dated as of the
          Closing  Date,  in a form  reasonably  acceptable  to the Seller,  and
          attached  thereto copies of the Purchaser's  articles of incorporation
          and  by-laws,  and evidence as to the good  standing of the  Purchaser
          dated as of a recent date; and

               (ii) One or more opinions of counsel from the Purchaser's counsel
          in form and substance reasonably satisfactory to the Seller.

     SECTION 11.  Notices.  All demands,  notices and  communications  hereunder
shall be in writing but may be delivered by facsimile transmission  subsequently
confirmed in writing.  Notices to the Seller shall be directed to [address], and
notices to the Purchaser shall be directed to [address]; or to any other address
as may  hereafter  be  furnished by one party to the other party by like notice.
Any such demand, notice or communication  hereunder shall be deemed to have been
received on the date received at the premises of the addressee (as evidenced, in
the case of  registered  or  certified  mail,  by the date  noted on the  return
receipt)  provided that it is received on a business day during normal  business
hours and, if received after normal business  hours,  then it shall be deemed to
be received on the next business day.

     SECTION 12.  Assignment by Purchaser.  As an inducement to the Purchaser to
purchase  the  Mortgage  Loans,  the Seller  acknowledges  and  consents  to the
Purchaser's  transfer of its interest in this Agreement to the Trustee  pursuant
to the Pooling and Servicing Agreement and the enforcement by the Trustee of any
right or remedy against the Seller pursuant to this Agreement.  Such enforcement
of a right or remedy by the  Trustee  shall have the same force and effect as if
the right or remedy had been  enforced or exercised by the  Purchaser  directly.
Notwithstanding  the foregoing,  the sole and exclusive  right and remedy of the
Trustee with respect to a breach of a  representation  or warranty of the Seller
shall be the cure, purchase or substitution  obligations of the Seller contained
in Sections 5 and 7 hereof.

     SECTION 13. Representations, Warranties and Agreements to Survive Delivery.
All representations,  warranties and agreements contained in this Agreement,  or
contained in certificates of officers of the Seller  submitted  pursuant hereto,
shall remain  operative  and in full force and effect and shall survive the sale
of the Mortgage Loans to the Purchaser and the transfer of the Mortgage Loans by
the Purchaser to the Trustee.

     SECTION 14.  Severability.  If any  provision  of this  Agreement  shall be
prohibited or invalid under  applicable law, this Agreement shall be ineffective
only to such extent, without invalidating the remainder of this Agreement.

     SECTION 15.  Counterparts.  This Agreement may be executed in counterparts,
each of which will be an original,  but which together shall  constitute one and
the same agreement.

     SECTION 16. Amendment.  This Agreement cannot be amended or modified in any
manner without the prior written consent of each party.

     SECTION  17.  GOVERNING  LAW.  THIS  AGREEMENT  SHALL  BE  GOVERNED  BY AND
CONSTRUED  IN  ACCORDANCE  WITH  THE  LAWS OF THE  STATE  OF NEW  YORK,  WITHOUT
APPLICATION OF THE CONFLICTS OF LAWS PROVISIONS  THEREOF,  AND THE  OBLIGATIONS,
RIGHTS AND REMEDIES OF THE PARTIES  HEREUNDER  SHALL BE DETERMINED IN ACCORDANCE
WITH SUCH LAWS.

     SECTION 18. Further  Assurances.  Each of the parties agrees to execute and
deliver such  instruments  and take such actions as another party may, from time
to time,  reasonably request in order to effectuate the purpose and to carry out
the terms of this Agreement.

     SECTION 19. Successors and Assigns.  This Agreement shall bind and inure to
the  benefit of and be  enforceable  by the Seller and the  Purchaser  and their
permitted  successors and assigns.  The Seller  acknowledges and agrees that the
Purchaser may assign its rights under this  Agreement to the Trustee as provided
in Section 12. Any person  into which the Seller may be merged or  consolidated,
any person resulting from any merger or consolidation  involving the Seller, any
person resulting from a change in form of the Seller or any person succeeding to
the business of the Seller,  shall be considered  the  "successor" of the Seller
hereunder and shall be considered a party hereto without the execution or filing
of any paper or any  further  act or  consent  on the part of any party  hereto.
Except as provided  in this  Section  and in Section 12 hereto,  this  Agreement
cannot be assigned by either  party  hereto  without the written  consent of the
other parties to this Agreement.

     SECTION 20.  Maintain  Rights in Effect.  The Seller and the Purchaser will
each keep in full effect all rights with  respect to itself as are  necessary to
perform its respective obligations under this Agreement.

     SECTION 21. Entire Agreement.  This Agreement contains the entire agreement
and understanding between the parties with respect to the subject matter hereof,
and  supersedes  all  prior  and  contemporaneous  agreements,   understandings,
inducements and conditions,  express or implied,  oral or written, of any nature
whatsoever with respect to the subject matter hereof.

     SECTION 22. No  Partnership.  Nothing herein  contained  shall be deemed or
construed to create a partnership or joint venture between the parties hereto.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

<PAGE>

         IN WITNESS WHEREOF, the parties hereto have caused their names to be
signed hereto by their respective duly authorized officers as of the date first
above written.

                                            WACHOVIA MORTGAGE LOAN TRUST, LLC

                                            By:
                                            ------------------------------------
                                            Name:
                                            Title:

                                            WACHOVIA BANK, NATIONAL ASSOCIATION

                                            By:
                                            ------------------------------------
                                            Name:
                                            Title:

<PAGE>

                                    EXHIBIT 1

                       MORTGAGE LOAN SCHEDULE INFORMATION

         The Mortgage Loan Schedule shall set forth the following information
with respect to each Mortgage Loan:

(a) the loan number;

(b) the Mortgagor's name;

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

(d) the property type;

(e) the Mortgage Interest Rate;

(f) the servicing fee rate;

(g) the net mortgage interest rate;

(h) the original term;

(i) the maturity date;

(j) the stated remaining term to maturity;

(k) the original principal balance;

(1) the first payment date;

(m) the principal and interest payment in effect as of the Cut-off Date;

(n) the unpaid principal balance as of the Cut-off Date;

(o) the loan-to-value ratio at origination;

(p) the paid-through date;

(q) the insurer of any primary mortgage insurance policy;

(r) the gross margin;

(s) the maximum Mortgage Interest Rate;

(t) the minimum Mortgage Interest Rate;

(u) the periodic rate cap;

(v) the number of days delinquent, if any; and

(w) the term for which the Mortgage Interest Rate is fixed.

Such schedule also shall set forth for all of the Mortgage Loans, the total
number of Mortgage Loans, the total of each of the amounts described under (k)
and (n) above, the weighted average by principal balance as of the Cut-off Date
of each of the rates described under (e), (f) and (g) above, and the weighted
average remaining term to maturity by unpaid principal balance as of the Cut-off
Date.

<PAGE>

                                    EXHIBIT 2

                             SCHEDULE OF LOST NOTES

<PAGE>

                                    EXHIBIT 3

           S&P LEVELS(R) Glossary, Version 5.6(c) Revised, Appendix E

                                                          REVISED August 1, 2005

APPENDIX E - S&P Anti-Predatory Lending Categorization

S&P has categorized loans governed by anti-predatory lending laws in the
Jurisdictions listed below into three categories based upon a combination of
factors that include (a) the risk exposure associated with the assignee
liability and (b) the tests and thresholds set forth in those laws. Note that
certain loans classified by the relevant statute as Covered are included in S&P
High Cost Loan Category because they included thresholds and tests that are
typical of what is generally considered High Cost by the industry.

S&P High Cost Loan Categorization

--------------------------------------------------------------------------------
                       ---------------------------------------------------------
  State/Jurisdiction    Name of Anti-Predatory Lending       Category under
                                                               Applicable
                                                             Anti-Predatory
                               Law/Effective Date              Lending Law
--------------------------------------------------------------------------------
Arkansas               Arkansas Home Loan Protection      High Cost Home Loan
                       Act, Ark. Code Ann. ss.ss. 23-53-101
                       et seq.
                       -- ---

                       Effective July 16, 2003
--------------------------------------------------------------------------------
Cleveland Heights, OH  Ordinance No. 72-2003 (PSH), Mun.  Covered Loan
                       Code ss.ss. 757.01 et seq.
                                          -- ---

                       Effective June 2, 2003
--------------------------------------------------------------------------------
Colorado               Consumer Equity Protection, Colo.  Covered Loan
                       Stat. Ann. ss.ss. 5-3.5-101 et seq.
                                                   -- ---

                       Effective for covered loans offered or entered into on or
                       after January 1, 2003. Other provisions of the Act took
                       effect on June 7, 2002
--------------------------------------------------------------------------------
Connecticut            Connecticut Abusive Home Loan      High Cost Home Loan
                       Lending Practices Act, Conn. Gen.
                       Stat. ss.ss. 36a-746 et seq.

                       Effective October 1, 2001
--------------------------------------------------------------------------------
District of Columbia   Home Loan Protection Act, D.C.     Covered Loan
                       Code ss.ss. 26-1151.01 et seq.
                                              -- ---

                       Effective for loans closed on or
                       after January 28, 2003
--------------------------------------------------------------------------------
Florida                Fair Lending Act, Fla. Stat. Ann.  High Cost Home Loan
                       ss.ss. 494.0078 et seq.
                                       -- ---

                       Effective October 2, 2002
--------------------------------------------------------------------------------
Georgia (Oct. 1, 2002  Georgia Fair Lending Act, Ga.      High Cost Home Loan
- Mar. 6, 2003)        Code Ann. ss.ss. 7-6A-1 et seq.
                                               -- ---

                       Effective October 1, 2002 - March
                       6, 2003
--------------------------------------------------------------------------------
Georgia as amended     Georgia Fair Lending Act, Ga.      High Cost Home Loan
(Mar. 7, 2003 -        Code Ann. ss.ss. 7-6A-1 et seq.
                                               -- ---
current)
                       Effective for loans closed on or
                       after March 7, 2003
--------------------------------------------------------------------------------
HOEPA Section 32       Home Ownership and Equity          High Cost Loan
                       Protection Act of 1994, 15 U.S.C.
                       ss. 1639, 12 C.F.R. ss.ss. 226.32 and
                       226.34

                       Effective October 1, 1995,
                       amendments October 1, 2002
--------------------------------------------------------------------------------
Illinois               High Risk Home Loan Act, Ill.      High Risk Home Loan
                       Comp. Stat. tit. 815, ss.ss. 137/5 et seq.

                       Effective January 1, 2004 (prior to this date,
                       regulations under Residential Mortgage License Act
                       effective from May 14, 2001)
--------------------------------------------------------------------------------
Indiana                Indiana Home Loan Practices Act,   High Cost Home Loan
                       Ind. Code Ann. ss.ss. 24-9-1-1 et
                                                      --
                       seq.

                       Effective for loans originated on or after January 1,
                       2005.
--------------------------------------------------------------------------------
Kansas                 Consumer Credit Code, Kan. Stat.   High Loan to Value
                       Ann. ss.ss. 16a-1-101 et seq.     Consumer Loan (id. ss.
                                             -- ---                          ---
                                                          16a-3-207) and;
                       Sections 16a-1-301 and 16a-3-207 became effective April
                       14, 1999; Section 16a-3-308a became effective July 1,
                       1999
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------

                                                          High APR Consumer
                                                          Loan (id. ss.
                                                                ---
                                                          16a-3-308a)
--------------------------------------------------------------------------------
Kentucky               2003 KY H.B. 287 - High Cost Home  High Cost Home Loan
                       Loan Act, Ky. Rev. Stat. ss.ss.
                       360.100 et seq.
                               -- ---

                       Effective June 24, 2003
--------------------------------------------------------------------------------
Maine                  Truth in Lending, Me. Rev. Stat.   High Rate High Fee
                       tit. 9-A, ss.ss. 8-101 et seq.         Mortgage
                                              -- ---

                       Effective September 29, 1995 and
                       as amended from time to time
--------------------------------------------------------------------------------
Massachusetts          Part 40 and Part 32, 209 C.M.R.    High Cost Home Loan
                       ss.ss. 32.00 et seq. and 209 C.M.R.
                                    -- ---
                       ss.ss. 40.01 et seq.
                                    -- ---

                       Effective March 22, 2001 and
                       amended from time to time
--------------------------------------------------------------------------------
                       Massachusetts Predatory Home Loan  High Cost Home
                       Practices Act                      Mortgage Loan
                       Mass. Gen. Laws ch. 183C, ss.ss. 1 et seq.

                       Effective November 7, 2004
--------------------------------------------------------------------------------
Nevada                 Assembly Bill No. 284, Nev. Rev.   Home Loan
                       Stat. ss.ss. 598D.010 et seq.

                       Effective October 1, 2003
--------------------------------------------------------------------------------
New Jersey             New Jersey Home Ownership          High Cost Home Loan
                       Security Act of 2002, N.J. Rev.
                       Stat. ss.ss. 46:10B-22 et seq.

                       Effective for loans closed on or
                       after November 27, 2003
--------------------------------------------------------------------------------
New Mexico             Home Loan Protection Act, N.M.     High Cost Home Loan
                       Rev. Stat. ss.ss. 58-21A-1 et seq.
                                                  -- ---

                       Effective as of January 1, 2004;
                       Revised as of February 26, 2004
--------------------------------------------------------------------------------
New York               N.Y. Banking Law Article 6-l       High Cost Home Loan

                       Effective for applications made
                       on or after April 1, 2003
--------------------------------------------------------------------------------
North Carolina         Restrictions and Limitations on    High Cost Home Loan
                       High Cost Home Loans, N.C. Gen.
                       Stat. ss.ss. 24-1.1E et seq.

                       Effective July 1, 2000; amended October 1, 2003 (adding
                       open-end lines of credit)
--------------------------------------------------------------------------------
Ohio                   H.B. 386 (codified in various      Covered Loan
                       sections of the Ohio Code), Ohio
                       Rev. Code Ann. ss.ss. 1349.25 et seq.
                                                     -- ---

                       Effective May 24, 2002
--------------------------------------------------------------------------------
Oklahoma               Consumer Credit Code (codified in  Subsection 10
                     various sections of Title 14A) Mortgage

                       Effective July 1, 2000; amended
                       effective January 1, 2004
--------------------------------------------------------------------------------
South Carolina         South Carolina High Cost and       High Cost Home Loan
                       Consumer Home Loans Act, S.C.
                       Code Ann. ss.ss. 37-23-10 et seq.

                       Effective for loans taken on or
                       after January 1, 2004
--------------------------------------------------------------------------------
West Virginia          West Virginia Residential          West Virginia
                       Mortgage Lender, Broker and        Mortgage Loan Act
                       Servicer Act, W. Va. Code Ann. ss.ss.  Loan
                       31-17-1 et seq.
                               -- ---

                       Effective June 5, 2002
--------------------------------------------------------------------------------

S&P Covered Loan Categorization

--------------------------------------------------------------------------------
  State/Jurisdiction    Name of Anti-Predatory Lending       Category under
                                                               Applicable
                                                             Anti-Predatory
                               Law/Effective Date              Lending Law
--------------------------------------------------------------------------------
Georgia (Oct. 1, 2002  Georgia Fair Lending Act, Ga.      Covered Loan
- Mar. 6, 2003)        Code Ann. ss.ss. 7-6A-1 et seq.
                                               -- ---

                       Effective October 1, 2002 - March
                       6, 2003
--------------------------------------------------------------------------------
New Jersey             New Jersey Home Ownership          Covered Home Loan
                       Security Act of 2002, N.J. Rev.
                       Stat. ss.ss. 46:10B-22 et seq.

                       Effective November 27, 2003 -
                       July 5, 2004
--------------------------------------------------------------------------------

S&P Home Loan Categorization

--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
  State/Jurisdiction    Name of Anti-Predatory Lending       Category under
                                                               Applicable
                                                             Anti-Predatory
                               Law/Effective Date              Lending Law
--------------------------------------------------------------------------------
Georgia (Oct. 1, 2002  Georgia Fair Lending Act, Ga.      Home Loan
- Mar. 6, 2003)        Code Ann. ss.ss. 7-6A-1 et seq.
                                               -- ---

                       Effective October 1, 2002 - March
                       6, 2003
--------------------------------------------------------------------------------
New Jersey             New Jersey Home Ownership          Home Loan
                       Security Act of 2002, N.J. Rev.
                       Stat. ss.ss. 46:10B-22 et seq.

                       Effective for loans closed on or
                       after November 27, 2003
--------------------------------------------------------------------------------
New Mexico             Home Loan Protection Act, N.M.     Home Loan
                       Rev. Stat. ss.ss. 58-21A-1 et seq.
                                                  -- ---

                       Effective as of January 1, 2004;
                       Revised as of February 26, 2004
--------------------------------------------------------------------------------
North Carolina         Restrictions and Limitations on    Consumer Home Loan
                       High Cost Home Loans, N.C. Gen.
                       Stat. ss.ss. 24-1.1E et seq.

                       Effective July 1, 2000; amended October 1, 2003 (adding
                       open-end lines of credit)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
South Carolina         South Carolina High Cost and       Consumer Home Loan
                       Consumer Home Loans Act, S.C.
                       Code Ann. ss.ss. 37-23-10 et seq.

                       Effective for loans taken on or
                       after January 1, 2004
--------------------------------------------------------------------------------

<PAGE>

                                   SCHEDULE A

                             MORTGAGE LOAN SCHEDULE

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