2005-RS3 Pooling & Servicing Agreement

8/13/2019 2005-RS3 Pooling & Servicing Agreement

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RAMP Series 2005RS3 Trust8400 NORMANDALE LAKE BLVDSUITE 600MINNEAPOLIS, MN 55437

952 8577000

EX10EX 10.1 POOLING AND SERVICING AGREEMENT

8K Filed on 04/15/2005 Period: 04/14/2005

File Number 33311723224

LIVEDGAR

Information Provided by Thomson Reuters Westlaw, 2011. All Rights Reserved.800.669.1154

www.gsionline.com
http://www.gsionline.com/


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RESIDENTIAL ASSET MORTGAGE PRODUCTS, INC.,

Depositor,

RESIDENTIAL FUNDING CORPORATION,

Master Servicer,

and

JPMORGAN CHASE BANK, n.a.

Trustee

POOLING AND SERVICING AGREEMENT

DATED AS Of March 1, 2005

Mortgage Asset-Backed Pass-Through Certificates

Series 2005-RS3


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TABLE OF CONTENTS

Page

ARTICLE I DEFINITIONS........................................................................8

Section 1.01. Definitions.................................................................8 Accrued Certificate Interest............................................................8 Adjusted Mortgage Rate..................................................................8 Adjustment Date.........................................................................8 Advance.................................................................................9 Affiliate...............................................................................9 Agreement...............................................................................9 Amount Held for Future Distribution.....................................................9 Appraised Value.........................................................................9 Assignment..............................................................................9 Assignment Agreement....................................................................9 Available Distribution Amount..........................................................10 Bankruptcy Code........................................................................10 Book-Entry Certificate.................................................................10 Business Day...........................................................................10 Call Rights............................................................................10 Capitalization Reimbursement Amount....................................................10

Cash Liquidation.......................................................................10 Certificate............................................................................10 Certificate Account....................................................................10 Certificate Account Deposit Date.......................................................11 Certificateholder or Holder............................................................11 Certificate Owner......................................................................11 Certificate Principal Balance..........................................................11 Certificate Register and Certificate Registrar.........................................12 Class..................................................................................12 Class A Certificate....................................................................12 Class A-I Interest Distribution Amount.................................................12 Class A Margin.........................................................................12 Class A Principal Distribution Amount..................................................12 Class A-I Basis Risk Shortfall.........................................................13 Class A-I Basis Risk Shortfall Carry-Forward Amount....................................13 Class A-I Certificate..................................................................13 Class A-I Principal Distribution Amount................................................13 Class A-IA Certificate.................................................................13

Class A-IB Certificate.................................................................13 Class A-I-A Principal Distribution Amount..............................................14 Class A-I-B Principal Distribution Amount..............................................14 Class A-I-A1 Certificate...............................................................14

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Class A-I-A2 Certificate...............................................................14 Class A-I-A3 Certificate...............................................................14 Class A-I-B1 Certificate...............................................................14 Class A-I-B2 Certificate...............................................................15 Class A-II Certificate.................................................................15 Class A-II Interest Distribution Amount................................................15 Class A-II Principal Distribution Amount...............................................15 Class B Basis Risk Shortfall...........................................................15 Class B Basis Risk Shortfall Carry-Forward Amount......................................15 Class B Certificate....................................................................16 Class B Margin.........................................................................16

Class B-1 Certificate..................................................................16 Class B-1 Interest Distribution Amount.................................................16 Class B-1 Principal Distribution Amount................................................16 Class B-2 Certificate..................................................................17 Class B-2 Interest Distribution Amount.................................................17 Class B-2 Principal Distribution Amount................................................17 Class B-3 Certificate..................................................................18 Class B-3 Interest Distribution Amount.................................................18 Class B-3 Principal Distribution Amount................................................18 Class IO Distribution Amount...........................................................19 Class IO Interest......................................................................19 Class M Certificate....................................................................19 Class M-1 Certificate..................................................................19 Class M-1 Interest Distribution Amount.................................................19 Class M-1 Principal Distribution Amount................................................20 Class M-2 Certificate..................................................................20 Class M-2 Interest Distribution Amount.................................................20 Class M-2 Principal Distribution Amount................................................20

Class M-3 Certificate..................................................................21 Class M-3 Interest Distribution Amount.................................................21 Class M-3 Principal Distribution Amount................................................21 Class M-4 Certificate..................................................................22 Class M-4 Interest Distribution Amount.................................................22 Class M-4 Principal Distribution Amount................................................23 Class M-5 Certificate..................................................................23 Class M-5 Interest Distribution Amount.................................................23 Class M-5 Principal Distribution Amount................................................23 Class M-6 Certificate..................................................................24 Class M-6 Interest Distribution Amount.................................................24 Class M-6 Principal Distribution Amount................................................24 Class M-7 Certificate..................................................................25 Class M-7 Interest Distribution Amount.................................................25 Class M-7 Principal Distribution Amount................................................25 Class M-8 Certificate..................................................................26 Class M-8 Interest Distribution Amount.................................................26

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Class M-8 Principal Distribution Amount................................................26 Class M-9 Certificate..................................................................27 Class M-9 Interest Distribution Amount.................................................27 Class M-9 Principal Distribution Amount................................................27 Class M Basis Risk Shortfall...........................................................28 Class M Basis Risk Shortfall Carry-Forward Amount......................................28 Class M Margin.........................................................................28 Class R Certificate....................................................................29 Class R-I Certificate..................................................................29 Class R-II Certificate.................................................................29 Class R-III Certificate................................................................29

Class R-IV Certificate.................................................................29 Class R-V Certificate..................................................................29 Class SB Certificates..................................................................29 Class SB Interest......................................................................30 Closing Date...........................................................................30 Code...................................................................................30 Commission.............................................................................30 Corporate Trust Office.................................................................30 Corresponding Class....................................................................30 Credit Repository......................................................................30 Curtailment............................................................................30 Custodial Account......................................................................30 Custodial Agreement....................................................................30 Custodian..............................................................................30 Cut-off Date...........................................................................30 Cut-off Date Balance...................................................................30 Cut-off Date Principal Balance.........................................................30 Debt Service Reduction.................................................................31

Deficient Valuation....................................................................31 Definitive Certificate.................................................................31 Deleted Mortgage Loan..................................................................31 Delinquent.............................................................................31 Depository.............................................................................31 Depository Participant.................................................................31 Derivative Contract....................................................................31 Derivative Counterparty................................................................31 Destroyed Mortgage Note................................................................32 Determination Date.....................................................................32 Disqualified Organization..............................................................32 Distribution Date......................................................................32 Due Date...............................................................................32 Due Period.............................................................................32 Eligible Account.......................................................................32 Eligible Master Servicing Compensation.................................................33 ERISA..................................................................................33 Event of Default.......................................................................33 Excess Cash Flow.......................................................................33

Excess Overcollateralization Amount....................................................33 Exchange Act...........................................................................33

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Fannie Mae.............................................................................33 FASIT..................................................................................33 FDIC...................................................................................34 FHA....................................................................................34 Final Certification....................................................................34 Final Distribution Date................................................................34 Final Scheduled Distribution Date......................................................34 Fitch..................................................................................34 Fixed Swap Payment.....................................................................34 Floating Swap Payment..................................................................34 Foreclosure Profits....................................................................34

Freddie Mac............................................................................35 Gross Margin...........................................................................35 Group IA Loans.........................................................................35 Group IB Loans.........................................................................35 Group I Marker Rate....................................................................35 Group I Net WAC Cap Rate...............................................................35 Group II Loans.........................................................................36 Group II Marker Rate...................................................................36 Group II Net WAC Cap Rate..............................................................36 Independent............................................................................36 Index..................................................................................36 Initial Certificate Principal Balance..................................................36 Insurance Proceeds.....................................................................36 Interest Accrual Period................................................................36 Interest Distribution Amount...........................................................37 Interim Certification..................................................................37 Interested Person......................................................................37 Late Collections.......................................................................37

LIBOR..................................................................................37 LIBOR Business Day.....................................................................37 LIBOR Rate Adjustment Date.............................................................37 Limited Repurchase Right Holder........................................................37 Liquidation Proceeds...................................................................37 Loan-to-Value Ratio....................................................................37 Maturity Date..........................................................................37 Maximum Mortgage Loan Rate.............................................................38 Maximum Mortgage Rate..................................................................38 Maximum Net Mortgage Rate..............................................................38 MERS...................................................................................38 MERS(R) System...........................................................................38 MIN....................................................................................38 Minimum Mortgage Rate..................................................................38 Modified Mortgage Loan.................................................................38 Modified Mortgage Rate.................................................................38 Modified Net Mortgage Rate.............................................................38 MOM Loan...............................................................................38

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Monthly Payment........................................................................38 Moody's................................................................................39 Mortgage...............................................................................39 Mortgage File..........................................................................39 Mortgage Loan Schedule.................................................................39 Mortgage Loans.........................................................................40 Mortgage Note..........................................................................40 Mortgage Rate..........................................................................40 Mortgaged Property.....................................................................40 Mortgagor..............................................................................41 Net Mortgage Rate......................................................................41

Non-Primary Residence Loans............................................................41 Non-United States Person...............................................................41 Nonrecoverable Advance.................................................................41 Nonsubserviced Mortgage Loan...........................................................41 Note Margin............................................................................41 Notice.................................................................................41 Officers' Certificate..................................................................42 Opinion of Counsel.....................................................................42 Optional Termination Date..............................................................42 Outstanding Mortgage Loan..............................................................42 Overcollateralization Amount...........................................................42 Overcollateralization Floor............................................................42 Overcollateralization Increase Amount..................................................42 Overcollateralization Reduction Amount.................................................42 Ownership Interest.....................................................................42 Pass-Through Rate......................................................................42 Paying Agent...........................................................................43 Percentage Interest....................................................................43

Periodic Cap...........................................................................43 Permitted Investments..................................................................43 Permitted Transferee...................................................................45 Person.................................................................................45 Pool Stated Principal Balance..........................................................45 Prepayment Assumption..................................................................45 Prepayment Interest Shortfall..........................................................45 Prepayment Period......................................................................45 Primary Insurance Policy...............................................................45 Principal Allocation Amount............................................................46 Principal Distribution Amount..........................................................46 Principal Prepayment...................................................................47 Principal Prepayment in Full...........................................................47 Principal Remittance Amount............................................................47

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Program Guide..........................................................................47 Purchase Price.........................................................................47 Qualified Insurer......................................................................47 Qualified Substitute Mortgage Loan.....................................................48 Rating Agency..........................................................................48 Realized Loss..........................................................................48 Record Date............................................................................49 Regular Certificates...................................................................49 Regular Interest.......................................................................49 Relief Act.............................................................................49 Relief Act Shortfalls..................................................................49

REMIC..................................................................................49 REMIC Administrator....................................................................49 REMIC I................................................................................49 REMIC Regular Interests................................................................50 REMIC I Regular Interests..............................................................50 REMIC I Regular Interest A-I...........................................................50 REMIC I Regular Interest A-II..........................................................50 REMIC II Group I Interest Loss Allocation Amount.......................................50 REMIC II Group II Interest Loss Allocation Amount......................................50 REMIC II Group I Overcollateralized Amount.............................................50 REMIC II Group II Overcollateralized Amount............................................51 REMIC II Group I Principal Loss Allocation Amount......................................51 REMIC II Group II Principal Loss Allocation Amount.....................................51 REMIC II Group I Regular Interests.....................................................51 REMIC II Group II Regular Interests....................................................51 REMIC II Required Overcollateralization Amount.........................................51 REMIC II Regular Interests.............................................................51 REMIC II Regular Interest I-AA.........................................................52

REMIC II Regular Interest A-I-1........................................................52 REMIC II Regular Interest A-I-2........................................................52 REMIC II Regular Interest A-I-A3.......................................................52 REMIC II Regular Interest A-I-B1.......................................................52 REMIC II Regular Interest A-I-B2.......................................................52 REMIC II Regular Interest M-1..........................................................52 REMIC II Regular Interest M-2..........................................................52 REMIC II Regular Interest M-3..........................................................52 REMIC II Regular Interest M-4..........................................................53 REMIC II Regular Interest M-5..........................................................53 REMIC II Regular Interest M-6..........................................................53 REMIC II Regular Interest M-7..........................................................53 REMIC II Regular Interest M-8..........................................................53 REMIC II Regular Interest M-9..........................................................53 REMIC II Regular Interest B-1..........................................................53 REMIC II Regular Interest B-2..........................................................54 REMIC II Regular Interest B-3..........................................................54 REMIC II Regular Interest I-ZZ.........................................................54 REMIC II Regular Interest I-AA.........................................................54

REMIC II Regular Interest I-IO.........................................................54

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REMIC I Regular Interest A-II..........................................................54 REMIC I Regular Interest II-ZZ.........................................................54 REMIC II Regular Interest I-ZZ Maximum Interest Deferral Amount........................54 REMIC II Regular Interest II-ZZ Maximum Interest Deferral Amount.......................55 REMIC III..............................................................................55 REMIC III Certificate..................................................................55 REMIC III Certificateholder............................................................55 REMIC III Regular Interest.............................................................55 REMIC IV...............................................................................55 REMIC IV Certificate...................................................................55 REMIC V................................................................................55

REMIC V Interests......................................................................55 REMIC Provisions.......................................................................55 REO Acquisition........................................................................55 REO Disposition........................................................................55 REO Imputed Interest...................................................................56 REO Proceeds...........................................................................56 REO Property...........................................................................56 Reportable Modified Mortgage Loan......................................................56 Repurchase Event.......................................................................56 Request for Release....................................................................56 Required Insurance Policy..............................................................56 Required Overcollateralization Amount..................................................56 Reserve Fund...........................................................................56 Reserve Fund Deposit...................................................................56 Reserve Fund Residual Right............................................................56 Residential Funding....................................................................57 Responsible Officer....................................................................57 Senior Enhancement Percentage..........................................................57

Sequential Trigger Event...............................................................57 Servicing Accounts.....................................................................57 Servicing Advances.....................................................................57 Servicing Fee..........................................................................57 Servicing Fee Rate.....................................................................57 Servicing Modification.................................................................58 Servicing Officer......................................................................58 Sixty-Plus Delinquency Percentage......................................................58 Standard & Poor's......................................................................58 Startup Date...........................................................................58

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Stated Principal Balance...............................................................58 Stepdown Date..........................................................................58 Sub-Group..............................................................................58 Subordination..........................................................................59 Subordination Percentage...............................................................59 Subsequent Recoveries..................................................................59 Subserviced Mortgage Loan..............................................................59 Subservicer............................................................................59 Subservicer Advance....................................................................59 Subservicing Account...................................................................59 Subservicing Agreement.................................................................59

Subservicing Fee.......................................................................59 Subservicing Fee Rate..................................................................60 Swap Agreement Notional Balance........................................................60 Swap Agreement Purchase Price..........................................................60 Tax Returns............................................................................60 Transfer...............................................................................61 Transferee.............................................................................61 Transferor.............................................................................61 Trigger Event..........................................................................61 Trust Fund.............................................................................61 Uniform Single Attestation Program for Mortgage Bankers................................61 Uncertificated Notional Amount.........................................................61 Uncertificated Pass-Through Rate.......................................................63 Uncertificated Principal Balance.......................................................63 Uncertificated REMIC I Pass-Through Rate...............................................63 Uncertificated REMIC II Pass-Through Rate..............................................63 Uninsured Cause........................................................................66 United States Person...................................................................66

VA.....................................................................................66 Voting Rights..........................................................................66 Section 1.02. Determination of LIBOR.....................................................67

ARTICLE II CONVEYANCE OF MORTGAGE LOANS; ORIGINAL ISSUANCE OF CERTIFICATES..................69

Section 2.01. Conveyance of Mortgage Loans...............................................69 Section 2.02. Acceptance by Trustee......................................................72 Section 2.03. Representations, Warranties and Covenants of the Master Servicer and the Depositor. 74 Section 2.04. Representations and Warranties of Residential Funding......................76 Section 2.05. Execution and Authentication of Certificates; Conveyance of REMIC Regular Interests. 78

ARTICLE III ADMINISTRATION AND SERVICING OF MORTGAGE LOANS..................................80

Section 3.01. Master Servicer to Act as Servicer.........................................80 Section 3.02. Subservicing Agreements Between Master Servicer and Subservicers; Enforcement of Subservicers' Obligations..................................................81

Section 3.03. Successor Subservicers.....................................................82 Section 3.04. Liability of the Master Servicer...........................................83

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Section 3.05. No Contractual Relationship Between Subservicer and Trustee or Certificateholders. 83 Section 3.06. Assumption or Termination of Subservicing Agreements by Trustee............83 Section 3.07. Collection of Certain Mortgage Loan Payments; Deposits to Custodial Account.84 Section 3.08. Subservicing Accounts; Servicing Accounts..................................86 Section 3.09. Access to Certain Documentation and Information Regarding the Mortgage Loans. 88 Section 3.10. Permitted Withdrawals from the Custodial Account...........................88 Section 3.11. Maintenance of Primary Insurance Coverage..................................90 Section 3.12. Maintenance of Fire Insurance and Omissions and Fidelity Coverage..........91 Section 3.13. Enforcement of Due-on-Sale Clauses; Assumption and Modification Agreements; Certain

Assignments................................................................92 Section 3.14. Realization Upon Defaulted Mortgage Loans..................................94 Section 3.15. Trustee to Cooperate; Release of Mortgage Files............................96 Section 3.16. Servicing and Other Compensation; Eligible Master Servicing Compensation...98 Section 3.17. Reports to the Trustee and the Depositor...................................99 Section 3.18. Annual Statement as to Compliance..........................................99 Section 3.19. Annual Independent Public Accountants' Servicing Report....................99 Section 3.20. Right of the Depositor in Respect of the Master Servicer..................100 Section 3.21. Advance Facility..........................................................100

ARTICLE IV PAYMENTS TO CERTIFICATEHOLDERS..................................................105

Section 4.01. Certificate Account.......................................................105 Section 4.02. Distributions.............................................................105 Section 4.03. Statements to Certificateholders; Statements to Rating Agencies; Exchange Act Reporting.................................................................116 Section 4.04. Distribution of Reports to the Trustee and the Depositor; Advances by the Master Servicer..................................................................119

Section 4.05. Allocation of Realized Losses.............................................120 Section 4.06. Reports of Foreclosures and Abandonment of Mortgaged Property.............123 Section 4.07. Optional Purchase of Defaulted Mortgage Loans.............................123 Section 4.08. Limited Mortgage Loan Repurchase Right....................................124 Section 4.09. Distribution of Class A Basis Risk Shortfall Carry-Forward Amounts and Class M Basis Risk Shortfall Carry-Forward Amounts; Reserve Fund; Swap Account..........124 Section 4.10. [Reserved]................................................................127 Section 4.11. Derivative Contracts......................................................127

ARTICLE V THE CERTIFICATES.................................................................129

Section 5.01. The Certificates..........................................................129 Section 5.02. Registration of Transfer and Exchange of Certificates.....................131 Section 5.03. Mutilated, Destroyed, Lost or Stolen Certificates.........................136 Section 5.04. Persons Deemed Owners.....................................................136 Section 5.05. Appointment of Paying Agent...............................................137

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ARTICLE VI THE DEPOSITOR AND THE MASTER SERVICER...........................................138

Section 6.01. Respective Liabilities of the Depositor and the Master Servicer...........138 Section 6.02. Merger or Consolidation of the Depositor or the Master Servicer; Assignment of Rights and Delegation of Duties by Master Servicer........................138 Section 6.03. Limitation on Liability of the Depositor, the Master Servicer and Others..139 Section 6.04. Depositor and Master Servicer Not to Resign...............................140

ARTICLE VII DEFAULT........................................................................141

Section 7.01. Events of Default.........................................................141

Section 7.02. Trustee or Depositor to Act; Appointment of Successor.....................142 Section 7.03. Notification to Certificateholders........................................144 Section 7.04. Waiver of Events of Default...............................................144

ARTICLE VIII CONCERNING THE TRUSTEE........................................................145

Section 8.01. Duties of Trustee.........................................................145 Section 8.02. Certain Matters Affecting the Trustee.....................................146 Section 8.03. Trustee Not Liable for Certificates or Mortgage Loans.....................148 Section 8.04. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.......148 Section 8.05. Eligibility Requirements for Trustee......................................149 Section 8.06. Resignation and Removal of the Trustee....................................150 Section 8.07. Successor Trustee.........................................................151 Section 8.08. Merger or Consolidation of Trustee........................................151 Section 8.09. Appointment of Co-Trustee or Separate Trustee.............................151 Section 8.10. Appointment of Custodians.................................................152

ARTICLE IX TERMINATION.....................................................................154

Section 9.01. Termination Upon Purchase by Residential Funding or Liquidation of All Mortgage Loans.....................................................................154 Section 9.02. Additional Termination Requirements.......................................157

ARTICLE X REMIC PROVISIONS.................................................................158

Section 10.01.REMIC Administration......................................................158 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification..........162

ARTICLE XI MISCELLANEOUS PROVISIONS........................................................163

Section 11.01.Amendment.................................................................163 Section 11.02.Recordation of Agreement; Counterparts....................................165 Section 11.03.Limitation on Rights of Certificateholders................................166 Section 11.04.Governing Law.............................................................167 Section 11.05.Notices...................................................................167 Section 11.06.Notices to Rating Agencies................................................167 Section 11.07.Severability of Provisions................................................168

Section 11.08.Supplemental Provisions for Resecuritization..............................168 Section 11.09.[Reserved]................................................................169 Section 11.10.Third Party Beneficiaries.................................................169

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EXHIBITS

Exhibit A Form of Class A CertificateExhibit B Form of Class M CertificateExhibit C Form of Class B CertificateExhibit D Form of Class SB CertificateExhibit E Form of Class R Certificate

Exhibit F Form of Custodial AgreementExhibit G-1 Group IA Loan ScheduleExhibit G-2 Group IB Loan ScheduleExhibit G-3 Group II Loan ScheduleExhibit H Forms of Request for ReleaseExhibit I-1 Form of Transfer Affidavit and AgreementExhibit I-2 Form of Transferor CertificateExhibit J Form of Investor Representation LetterExhibit K Form of Transferor Representation LetterExhibit L Text of Amendment to Pooling and Servicing Agreement Pursuant to Section 11.01(e) for a Limited GuarantyExhibit M Form of Limited GuarantyExhibit N Form of Lender Certification for Assignment of Mortgage LoanExhibit O Form of Rule 144A Investment RepresentationExhibit P [Reserved]

Exhibit Q Form of ERISA Representation Letter (Class M Certificates and Class B Certificates)Exhibit R-1 Form 10-K CertificationExhibit R-2 Form 10-K Back-up CertificationExhibit S Information to be Provided by the Master Servicer to the Rating Agencies Relating to Reportable Modified Mortgage LoansExhibit T Schedule of Swap Agreement Notional BalancesExhibit U Swap Agreement

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This Pooling and Servicing Agreement, effective as of March 1, 2005,among RESIDENTIAL ASSET MORTGAGE PRODUCTS, INC., as depositor (together with itspermitted successors and assigns, the "Depositor"), RESIDENTIAL FUNDINGCORPORATION, as master servicer (together with its permitted successors andassigns, the "Master Servicer"), and JPMORGAN CHASE BANK, N.A., a banking

association organized under the laws of the United States, as trustee (togetherwith its permitted successors and assigns, the "Trustee").

PRELIMINARY STATEMENT:

The Depositor intends to sell mortgage asset-backed pass-throughcertificates (collectively, the "Certificates"), to be issued hereunder innineteen classes, which in the aggregate will evidence the entire beneficialownership interest in the Mortgage Loans (as defined herein).

REMIC I

As provided herein, the REMIC Administrator will make an election totreat the segregated pool of assets consisting of the Mortgage Loans and certainother related assets (exclusive of the Reserve Fund, the Swap Account and the

Swap Agreement) subject to this Agreement as a real estate mortgage investmentconduit (a "REMIC") for federal income tax purposes, and such segregated pool ofassets will be designated as "REMIC I." The Class R-I Certificates willrepresent the sole class of "residual interests" in REMIC I for purposes of theREMIC Provisions (as defined herein) under federal income tax law. The followingtable irrevocably sets forth the designation, remittance rate (the"Uncertificated REMIC I Pass-Through Rate") and initial Uncertificated PrincipalBalance for the "regular interests" in REMIC I (the "REMIC I RegularInterests"). The "latest possible maturity date" (determined for purposes ofsatisfying Treasury regulation Section 1.860G-1(a)(4)(iii)) for the REMIC IRegular Interests shall be the 360th Distribution Date. The REMIC I RegularInterests will not be certificated.

UNCERTIFICATED REMIC I UNCERTIFICATED REMIC I LATEST POSSIBLE DESIGNATION PASS-THROUGH RATE PRINCIPAL BALANCE MATURITY DATE

A-I Variable(1) $ 3,161,084.76 March 25, 2035I-1-A Variable(1) 10,500,116.00 March 25, 2035I-1-B Variable(1) 10,500,116.00 March 25, 2035I-2-A Variable(1) 10,317,109.50 March 25, 2035I-2-B Variable(1) 10,317,109.50 March 25, 2035I-3-A Variable(1) 10,151,333.00 March 25, 2035I-3-B Variable(1) 10,151,333.00 March 25, 2035I-4-A Variable(1) 10,000,343.00 March 25, 2035

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I-4-B Variable(1) 10,000,343.00 March 25, 2035I-5-A Variable(1) 9,861,660.50 March 25, 2035I-5-B Variable(1) 9,861,660.50 March 25, 2035I-6-A Variable(1) 9,732,784.50 March 25, 2035I-6-B Variable(1) 9,732,784.50 March 25, 2035I-7-A Variable(1) 9,611,221.00 March 25, 2035I-7-B Variable(1) 9,611,221.00 March 25, 2035I-8-A Variable(1) 9,482,911.50 March 25, 2035I-8-B Variable(1) 9,482,911.50 March 25, 2035

I-9-A Variable(1) 9,110,637.00 March 25, 2035I-9-B Variable(1) 9,110,637.00 March 25, 2035I-10-A Variable(1) 8,753,335.50 March 25, 2035I-10-B Variable(1) 8,753,335.50 March 25, 2035I-11-A Variable(1) 8,410,129.00 March 25, 2035I-11-B Variable(1) 8,410,129.00 March 25, 2035I-12-A Variable(1) 8,080,593.50 March 25, 2035I-12-B Variable(1) 8,080,593.50 March 25, 2035I-13-A Variable(1) 7,764,169.00 March 25, 2035I-13-B Variable(1) 7,764,169.00 March 25, 2035I-14-A Variable(1) 7,460,331.50 March 25, 2035I-14-B Variable(1) 7,460,331.50 March 25, 2035I-15-A Variable(1) 7,168,573.00 March 25, 2035I-15-B Variable(1) 7,168,573.00 March 25, 2035I-16-A Variable(1) 6,888,408.00 March 25, 2035I-16-B Variable(1) 6,888,408.00 March 25, 2035I-17-A Variable(1) 6,619,369.50 March 25, 2035

I-17-B Variable(1) 6,619,369.50 March 25, 2035I-18-A Variable(1) 6,361,009.50 March 25, 2035I-18-B Variable(1) 6,361,009.50 March 25, 2035I-19-A Variable(1) 6,112,899.50 March 25, 2035I-19-B Variable(1) 6,112,899.50 March 25, 2035I-20-A Variable(1) 5,874,626.00 March 25, 2035I-20-B Variable(1) 5,874,626.00 March 25, 2035I-21-A Variable(1) 5,645,794.50 March 25, 2035I-21-B Variable(1) 5,645,794.50 March 25, 2035I-22-A Variable(1) 5,426,026.00 March 25, 2035I-22-B Variable(1) 5,426,026.00 March 25, 2035I-23-A Variable(1) 5,199,495.50 March 25, 2035I-23-B Variable(1) 5,199,495.50 March 25, 2035I-24-A Variable(1) 57,454,833.50 March 25, 2035I-24-B Variable(1) 57,454,833.50 March 25, 2035I-25-A Variable(1) 2,591,757.50 March 25, 2035

I-25-B Variable(1) 2,591,757.50 March 25, 2035I-26-A Variable(1) 2,498,956.50 March 25, 2035

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I-26-B Variable(1) 2,498,956.50 March 25, 2035I-27-A Variable(1) 2,409,562.50 March 25, 2035I-27-B Variable(1) 2,409,562.50 March 25, 2035I-28-A Variable(1) 2,323,448.00 March 25, 2035I-28-B Variable(1) 2,323,448.00 March 25, 2035I-29-A Variable(1) 2,240,489.50 March 25, 2035I-29-B Variable(1) 2,240,489.50 March 25, 2035I-30-A Variable(1) 2,160,720.00 March 25, 2035I-30-B Variable(1) 2,160,720.00 March 25, 2035

I-31-A Variable(1) 2,083,710.00 March 25, 2035I-31-B Variable(1) 2,083,710.00 March 25, 2035I-32-A Variable(1) 2,009,513.50 March 25, 2035I-32-B Variable(1) 2,009,513.50 March 25, 2035I-33-A Variable(1) 1,938,026.00 March 25, 2035I-33-B Variable(1) 1,938,026.00 March 25, 2035I-34-A Variable(1) 1,869,146.50 March 25, 2035I-34-B Variable(1) 1,869,146.50 March 25, 2035I-35-A Variable(1) 1,805,536.50 March 25, 2035I-35-B Variable(1) 1,805,536.50 March 25, 2035I-36-A Variable(1) 19,234,281.50 March 25, 2035I-36-B Variable(1) 19,234,281.50 March 25, 2035I-37-A Variable(1) 938,292.50 March 25, 2035I-37-B Variable(1) 938,292.50 March 25, 2035I-38-A Variable(1) 910,047.50 March 25, 2035I-38-B Variable(1) 910,047.50 March 25, 2035I-39-A Variable(1) 882,647.50 March 25, 2035

I-39-B Variable(1) 882,647.50 March 25, 2035I-40-A Variable(1) 856,067.50 March 25, 2035I-40-B Variable(1) 856,067.50 March 25, 2035I-41-A Variable(1) 830,283.00 March 25, 2035I-41-B Variable(1) 830,283.00 March 25, 2035I-42-A Variable(1) 805,270.50 March 25, 2035I-42-B Variable(1) 805,270.50 March 25, 2035I-43-A Variable(1) 781,007.50 March 25, 2035I-43-B Variable(1) 781,007.50 March 25, 2035I-44-A Variable(1) 757,470.50 March 25, 2035I-44-B Variable(1) 757,470.50 March 25, 2035I-45-A Variable(1) 734,639.00 March 25, 2035I-45-B Variable(1) 734,639.00 March 25, 2035I-46-A Variable(1) 712,491.50 March 25, 2035I-46-B Variable(1) 712,491.50 March 25, 2035I-47-A Variable(1) 691,007.00 March 25, 2035

I-47-B Variable(1) 691,007.00 March 25, 2035

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I-48-A Variable(1) 20,450,918.50 March 25, 2035I-48-B Variable(1) 20,450,918.50 March 25, 2035A-II Variable(1) 112,833,401.60 March 25, 2035

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

REMIC II

As provided herein, the REMIC Administrator will elect to treat thesegregated pool of assets consisting of the REMIC I Regular Interests as a REMICfor federal income tax purposes, and such segregated pool of assets will bedesignated as "REMIC II". The Class R-II Certificates will be the sole class of"residual interests" in REMIC II for purposes of the REMIC Provisions. Thefollowing table irrevocably sets forth the designation, the Uncertificated REMICII Pass-Through Rate, the initial Uncertificated Principal Balance and, forpurposes of satisfying Treasury Regulation Section 1.860G-1(a)(4)(iii), the"latest possible maturity date" for each of the REMIC II Regular Interests (asdefined herein). None of the REMIC II Regular Interests will be certificated.


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Uncertificated REMIC II Initial Uncertificated PrincipalDesignation Pass-Through Rate Balance Latest Possible Maturity Date

II-AA Variable(1) $ 619,523,743.06 March 25, 2035

A-I-A1 Variable(1) $ 1,176,420.00 March 25, 2035 A-I-A2 Variable(1) $ 1,145,180.00 March 25, 2035 A-I-A3 Variable(1) $ 273,990.00 March 25, 2035 A-I-B1 Variable(1) $ 2,336,030.00 March 25, 2035 A-I-B2 Variable(1) $ 259,560.00 March 25, 2035

M-1 Variable(1) $ 204,870.00 March 25, 2035 M-2 Variable(1) $ 186,250.00 March 25, 2035 M-3 Variable(1) $ 93,130.00 March 25, 2035 M-4 Variable(1) $ 111,750.00 March 25, 2035 M-5 Variable(1) $ 74,510.00 March 25, 2035 M-6 Variable(1) $ 93,130.00 March 25, 2035 M-7 Variable(1) $ 55,870.00 March 25, 2035 M-8 Variable(1) $ 59,600.00 March 25, 2035 M-9 Variable(1) $ 52,150.00 March 25, 2035 B-1 Variable(1) $ 37,250.00 March 25, 2035 B-2 Variable(1) $ 55,870.00 March 25, 2035 B-3 Variable(1) $ 74,500.00 March 25, 2035 I-ZZ Variable(1) $ 6,353,281.70 March 25, 2035 II-AA Variable(1) $ 110,576,733.57 March 25, 2035

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A-II Variable(1) $ 1,122,690.00 March 25, 2035 II-ZZ Variable(1) $ 1,133,978.03 March 25, 2035 IO (1) (2) March 25, 2035

___________________________

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

(2) REMIC II Regular Interest IO will not have an Uncertificated Principal Balance but will accrue interest on its uncertificated notional amount calculated in accordance with the definition of "Uncertificated Notional Amount" herein.

REMIC III

As provided herein, the REMIC Administrator will elect to treat thesegregated pool of assets consisting of the REMIC II Regular Interests as aREMIC for federal income tax purposes, and such segregated pool of assets willbe designated as REMIC III. The Class R-III Certificates will represent the soleclass of "residual interests" in REMIC III for purposes of the REMIC Provisionsunder federal income tax law. The following table irrevocably sets forth thedesignation, Pass-Through Rate, aggregate Initial Certificate Principal Balance(or Uncertificated Principal Balance, in the case of the Class SB and IOinterests), certain features, Final Scheduled Distribution Date and initialratings for each Class of Certificates comprising the interests representing"regular interests" in REMIC III and the Class R Certificates. The "latestpossible maturity date" (determined for purposes of satisfying TreasuryRegulation Section 1.860G-1(a)(4)(iii)) for each Class of Regular Certificatesshall be the 360th Distribution Date.

Each Certificate, other than the Class A-II Certificate, the Class SB

Certificate and the Class R Certificates, represents ownership of a regularinterest in REMIC III and also represents (i) the right to receive payments withrespect to the related Basis Risk Shortfall Carry-Forward Amount and (ii) theobligation to pay Class IO Distribution Amount. The entitlement to principal ofthe REMIC III regular interest which corresponds to each such Certificate shallbe equal in amount and timing to the entitlement to principal of suchCertificate.

AGGREGATE INITIAL CERTIFICATE PASS-THROUGH PRINCIPAL FINAL SCHEDULEDDESIGNATION TYPE RATE BALANCE FEATURES DISTRIBUTION DATE INITIAL RATINGS MOODY'S FITCHClass A-I-A1(6) Senior Adjustable(1) $117,642,000 Senior November 25, 2024 Aaa AAA (2) Class Senior Adjustable(1) $114,518,000 Senior May 25, 2033 Aaa AAA A-I-A2(6) (2)

Class Senior Adjustable(1) $27,399,000 Senior March 25, 2035 Aaa AAA A-I-A3(6) (2) Class Senior Adjustable(1) $233,603,000 Senior March 25, 2035 Aaa AAA A-I-B1(6) Class Senior Adjustable(1) $25,956,000 Senior March 25, 2035 Aaa AAA A-I-B2(6) (2) Class A-II Senior Variable $112,269,000 Senior March 25, 2035 Aaa AAAClass M-1(6) MezzanineAdjustable(1) $20,487,000 Mezzanine March 25, 2035 Aa1 AA+ (2)Class M-2(6) MezzanineAdjustable(1) $18,625,000 Mezzanine March 25, 2035 Aa2 AA (2)Class M-3(6) MezzanineAdjustable(1) $9,313,000 Mezzanine March 25, 2035 Aa3 AA- (2)Class M-4(6) MezzanineAdjustable(1) $11,175,000 Mezzanine March 25, 2035 A1 A+ (2)Class M-5(6) MezzanineAdjustable(1) $7,451,000 Mezzanine March 25, 2035 A2 A (2)Class M-6(6) MezzanineAdjustable(1) $9,313,000 Mezzanine March 25, 2035 A3 A- (2)Class M-7(6) MezzanineAdjustable(1) $5,587,000 Mezzanine March 25, 2035 Baa1 BBB+ (2)

Class M-8(6) MezzanineAdjustable(1) $5,960,000 Mezzanine March 25, 2035 Baa2 BBB (2)Class M-9(6) MezzanineAdjustable(1) $5,215,000 Mezzanine March 25, 2035 Baa3 BBB- (2)Class B-1(6) SubordinaAdjustable(1) $3,725,000 Subordinate March 25, 2035 Ba1 BB+ (2)Class B-2(6) SubordinaAdjustable(1) $5,587,000 Subordinate March 25, 2035 Ba2 BB (2)

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Class B-3(6) SubordinaAdjustable(1) $7,450,000 Subordinate March 25, 2035 B2 B (2) Class SB SubordinaVariable(3) $3,725,486.36 Subordinate N/A N/R N/R Interest Class R-I Residual N/A Residual N/A N/R N/R N/A Class R-II Residual N/A Residual N/A N/R N/R N/AClass R-III Residual N/A Residual N/A N/R N/R N/A Class R-IV Residual N/A Residual N/A N/R N/R

N/A Class R-V Residual N/A Residual N/A N/R N/R N/A Class IO Residual (4) (5) Residual N/A N/R N/R Interest

_______________

(1) Calculated in accordance with the definition of "Pass-Through Rate" herein. Each REMIC III Regular Interest ownership of which is represented by a Certificate will have the same Pass-Through Rate as that Certificate, except with respect to the Group 1 Net WAC Cap Rate. The Group 1 Net WAC Cap Rate for each Regular Certificate (other than the Class A-II Certificates and Class SB Certificates) and each REMIC III Regular Interest the ownership of which is represented thereby is specified in the definition of Group 1 Net WAC Cap Rate.(2) On and after the second Distribution Date after the first possible Optional

Termination Date, the margin on each of the Class A-I-A3, Class A-I-B1 and Class A-I-B2 Certificates will double and the margin on each of the Class M Certificates and Class B Certificates will increase by 1.5 times.(3) The Class SB Interest will accrue interest at its variable Pass-Through Rate on the Uncertificated Notional Amount of the Class SB Interest outstanding from time to time which shall equal the Uncertificated Principal Balance of the REMIC II Regular Interests. The Class SB Interest will not accrue interest on its Uncertificated Principal Balance.(4) For federal income tax purposes, the Class IO Interest will not have a Pass-Through Rate, but will be entitled to 100% of the amounts distributed on REMIC II Regular Interest IO.(5) For federal income tax purposes, the Class IO Interest will not have an Uncertificated Principal Balance, but will have a notional amount equal to the Uncertificated Notional Amount of REMIC II Regular Interest IO.(6) This Class of Certificates represents ownership of a "regular interest" in REMIC III. Any amount distributed on this Class of Certificates on any Distribution Date in excess of the amount distributable on the related REMIC III Regular Interest on such Distribution Date shall be treated for federal income tax purposes as having been paid from the Reserve Fund or the Swap

Account, as applicable, and any amount distributable on such REMIC III Regular Interest on such Distribution Date in excess of the amount distributable on such Class of Certificates on such Distribution Date shall be treated as having been paid to the Swap Account, all pursuant to and as further provided in Section 4.09 hereof. REMIC IV

As provided herein, the REMIC Administrator shall elect to treat thesegregated pool of assets consisting of the Class SB Interest as a REMIC forfederal income tax purposes, and such segregated pool of assets will bedesignated as "REMIC IV." The Class R-IV Certificate represents the sole classof "residual interests" in REMIC IV for purposes of the REMIC Provisions.

The following table sets forth the Class designation, Pass-Through Rate,Initial Certificate Principal Balance and, for purposes of satisfying TreasuryRegulation Section 1.860G-1(a)(4)(iii), the "latest possible maturity date" forthe indicated Class of Certificates that represents a "regular interest" inREMIC IV created hereunder:

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INITIAL CERTIFICATE LATEST POSSIBLE CLASS DESIGNATION PASS-THROUGH RATE PRINCIPAL BALANCE MATURITY DATE

SB Variable(1) $ 3,725,486.36 March 25, 2035

_______________

(1) The Class SB Certificates will receive 100% of amounts received in respect of the Class SB Interest.

REMIC V

As provided herein, the REMIC Administrator shall elect to treat thesegregated pool of assets consisting of the Class IO Interest as a REMIC forfederal income tax purposes, and such segregated pool of assets will bedesignated as "REMIC V." The Class R-V Certificate represents the sole class of"residual interests" in REMIC V for purposes of the REMIC Provisions.

The following table sets forth the designation, Pass-Through Rate,initial Uncertificated Principal Balance and, for purposes of satisfyingTreasury Regulation Section 1.860G-1(a)(4)(iii), the "latest possible maturitydate" for the indicated class of interests that represents a "regular interest"in REMIC V created hereunder:

INITIAL UNCERTIFICATED LATEST POSSIBLE DESIGNATION PASS-THROUGH RATE PRINCIPAL BALANCE MATURITY DATE

IO(1) (2) (3) March 25, 2035

_______________

(1) REMIC V Regular Interest IO will be held as an asset of the Swap Account established by the Trustee.

(2) REMIC V Regular Interest IO will not have a Pass-Through Rate, but will receive 100% of amounts received in respect of the Class IO Interest.

(3) REMIC V Regular Interest IO will not have an Uncertificated Principal Balance, but will have a notional amount equal to the Uncertificated Notional Amount of the Class IO Interest.

The Mortgage Loans have an aggregate Cut-off Date Principal Balanceequal to $745,000,486.36. The Mortgage Loans are fixed-rate and adjustable-rate,fully amortizing, first lien mortgage loans having terms to maturity at

origination or modification of generally not more than 30 years.

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

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ARTICLE I

DEFINITIONS

Section 1.01. Definitions.

Whenever used in this Agreement, the following words and phrases, unlessthe context otherwise requires, shall have the meanings specified in this

Article.

Accrued Certificate Interest: With respect to each Distribution Date andthe Class A, Class M and Class B Certificates, interest accrued during thepreceding Interest Accrual Period on its Certificate Principal Balanceimmediately prior to such Distribution Date at the related Pass-Through Rate forthat Distribution Date.

The amount of Accrued Certificate Interest on each Class of Certificatesshall be reduced by the amount of (a) Prepayment Interest Shortfalls on theMortgage Loans during the prior calendar month (to the extent not covered byEligible Master Servicing Compensation pursuant to Section 3.16) and Relief ActShortfalls on Mortgage Loans during the related Due Period, in each case to theextent allocated to that Class of Certificates pursuant to Section 4.02(k); and(b) the interest portion of Realized Losses allocated to such Class through

Subordination as described in Section 4.05.

With respect to each Distribution Date and the Class SB Certificates,interest accrued during the preceding Interest Accrual Period at the relatedPass-Through Rate for that Distribution Date on the notional amount as specifiedin the definition of Pass-Through Rate, immediately prior to such DistributionDate in each case, reduced by any interest shortfalls with respect to theMortgage Loans in the related Loan Group including Prepayment InterestShortfalls to the extent not covered by Eligible Master Servicing Compensationpursuant to Section 3.16 or by Excess Cash Flow pursuant to clauses (xviii) and(xix) of Section 4.02(f) or by the Swap Agreement pursuant to clauses (A) and(B) of Section 4.09(c). In addition, Accrued Certificate Interest with respectto each Distribution Date, as to the Class SB Certificates, shall be reduced byan amount equal to the interest portion of Realized Losses allocated to theOvercollateralization Amount pursuant to Section 4.05 hereof. Accrued

Certificate Interest on the Class A-I, Class M and Class B Certificates shallaccrue on the basis of a 360-day year and the actual number of days in therelated Interest Accrual Period. Accrued Certificate Interest on the Class A-IIand Class SB Certificates shall accrue on the basis of a 360-day year consistingof twelve 30-day months.

Adjusted Mortgage Rate: With respect to any Mortgage Loan and any dateof determination, the Mortgage Rate borne by the related Mortgage Note, less therelated Subservicing Fee Rate.

Adjustment Date: As to each adjustable-rate Mortgage Loan, each date setforth in the related Mortgage Note on which an adjustment to the interest rateon such Mortgage Loan becomes effective.

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Advance: As to any Mortgage Loan, any advance made by the MasterServicer, pursuant to Section 4.04.

Affected Party: As defined in the Swap Agreement.

Affiliate: With respect to any Person, any other Person controlling,controlled by or under common control with such first Person. For the purposesof this definition, "control" means the power to direct the management and

policies of such Person, directly or indirectly, whether through the ownershipof voting securities, by contract or otherwise; and the terms "controlling" and"controlled" have meanings correlative to the foregoing.

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

Amount Held for Future Distribution: As to any Distribution Date, thetotal of the amounts held in the Custodial Account at the close of business onthe preceding Determination Date on account of (i) Liquidation Proceeds,Subsequent Recoveries, REO Proceeds, Insurance Proceeds, Principal Prepayments,Mortgage Loan purchases made pursuant to Section 2.02, 2.03, 2.04, 4.07 or 4.08and Mortgage Loan substitutions made pursuant to Section 2.03 or 2.04 receivedor made in the month of such Distribution Date (other than such LiquidationProceeds, Insurance Proceeds, REO Proceeds, Subsequent Recoveries and purchases

of Mortgage Loans that the Master Servicer has deemed to have been received inthe preceding month in accordance with Section 3.07(b)) and (ii) payments whichrepresent early receipt of scheduled payments of principal and interest due on adate or dates subsequent to the Due Date in the related Due Period.

Appraised Value: As to any Mortgaged Property, one of the following: (i)the lesser of (a) the appraised value of such Mortgaged Property based upon theappraisal made at the time of the origination of the related Mortgage Loan, and(b) the sales price of the Mortgaged Property at such time of origination, (ii)in the case of a Mortgaged Property securing a refinanced or modified MortgageLoan, one of (1) the appraised value based upon the appraisal made at the timeof origination of the loan which was refinanced or modified, (2) the appraisedvalue determined in an appraisal made at the time of refinancing or modificationor (3) the sales price of the Mortgaged Property, or (iii) with respect to theMortgage Loans for which a broker's price opinion was obtained, the value

contained in such opinion.

Assignment: An assignment of the Mortgage, notice of transfer orequivalent instrument, in recordable form, sufficient under the laws of thejurisdiction wherein the related Mortgaged Property is located to reflect ofrecord the sale of the Mortgage Loan to the Trustee for the benefit ofCertificateholders, which assignment, notice of transfer or equivalentinstrument may be in the form of one or more blanket assignments coveringMortgages secured by Mortgaged Properties located in the same county, ifpermitted by law and accompanied by an Opinion of Counsel to that effect.

Assignment Agreement: The Assignment and Assumption Agreement, dated theClosing Date, between Residential Funding and the Depositor relating to thetransfer and assignment of the Mortgage Loans.

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Available Distribution Amount: As to any Distribution Date, an amountequal to (a) the sum of (i) the amount relating to the Mortgage Loans on depositin the Custodial Account as of the close of business on the immediatelypreceding Determination Date, including any Subsequent Recoveries, and amountsdeposited in the Custodial Account in connection with the substitution ofQualified Substitute Mortgage Loans, (ii) the amount of any Advance made on theimmediately preceding Certificate Account Deposit Date, (iii) any amountdeposited in the Certificate Account on the related Certificate Account Deposit

Date pursuant to Section 3.12(a), (iv) any amount that the Master Servicer isnot permitted to withdraw from the Custodial Account pursuant to Section 3.16(e)and (v) any amount deposited in the Certificate Account pursuant to Section 4.07or 4.08 and any amounts deposited in the Custodial Account pursuant to Section9.01, reduced by (b) the sum as of the close of business on the immediatelypreceding Determination Date of: (w) any payments or collections consisting ofprepayment charges on the Mortgage Loans that were received during the relatedPrepayment Period, (x) the Amount Held for Future Distribution, (y) amountspermitted to be withdrawn by the Master Servicer from the Custodial Accountpursuant to clauses (ii)-(x), inclusive, of Section 3.10(a) and (z) any Net SwapPayments and Swap Termination Payments not due to a Swap Provider Trigger Eventfor such Distribution Date.

Bankruptcy Code: The Bankruptcy Code of 1978, as amended.

Book-Entry Certificate: Any Certificate registered in the name of theDepository or its nominee.

Business Day: Any day other than (i) a Saturday or a Sunday or (ii) aday on which banking institutions in the States of New York, Minnesota,Illinois, Texas or Michigan (and such other state or states in which theCustodial Account or the Certificate Account are at the time located) arerequired or authorized by law or executive order to be closed.

Call Rights: As defined in Section 9.01(e).

Capitalization Reimbursement Amount: As to any Distribution Date, theamount of unreimbursed Advances or Servicing Advances that were added to theStated Principal Balance of the related Mortgage Loans during the precedingcalendar month and reimbursed to the Master Servicer or Subservicer pursuant to

Section 3.10(a)(vii) on or prior to such Distribution Date.

Cash Liquidation: As to any defaulted Mortgage Loan other than aMortgage Loan as to which an REO Acquisition occurred, a determination by theMaster Servicer that it has received all Insurance Proceeds, LiquidationProceeds and other payments or cash recoveries which the Master Servicerreasonably and in good faith expects to be finally recoverable with respect tosuch Mortgage Loan.

Certificate: Any Class A Certificate, Class M Certificate, Class BCertificate, Class SB Certificate or Class R Certificate.

Certificate Account: The account or accounts created and maintainedpursuant to Section 4.01, which shall be entitled "JPMorgan Chase Bank, N.A., astrustee, in trust for the registered holders of Residential Asset MortgageProducts, Inc., Mortgage Asset-Backed Pass-Through Certificates, Series2005-RS3" and which must be an Eligible Account.

Certificate Account Deposit Date: As to any Distribution Date, theBusiness Day prior thereto.

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Certificate Register and Certificate Registrar: The register maintainedand the registrar appointed pursuant to Section 5.02.

Class: Collectively, all of the Certificates or uncertificated interestsbearing the same designation.

Class A Certificate: Any one of the Class A-I-A1, Class A-I-A2, ClassA-I-A3, Class A-I-B1, Class A-I-B2 or Class A-II Certificates.

Class A-I Interest Distribution Amount: With respect to each Class ofClass A-I Certificates and any Distribution Date, the aggregate amount ofAccrued Certificate Interest to be distributed to the holders of such Class ofClass A-I Certificates for such Distribution Date, plus any related AccruedCertificate Interest thereon remaining unpaid from any prior Distribution Date,less any related Prepayment Interest Shortfalls for such Distribution Date notcovered by Eligible Master Servicing Compensation and any Relief Act Shortfallsfor such Distribution Date, allocated among the Class A-I Certificates asdescribed herein from the sources and in the priority as follows:

(i) first, from the Interest Remittance Amount derived from the related Sub-Group;

(ii) second, from the Interest Remittance Amount derived from the non-related

Sub-Group after taking into account any payments in respect of interest on the non-related Classes of Class A-I Certificates made in clause (i) above;

(iii) third, from the Principal Remittance Amount derived from the related Sub-Group; and

(iv) fourth, from the Principal Remittance Amount derived from the non-related Sub-Group after taking into account any payments in respect of interest on the non-related Classes of Class A-I Certificates made in clause (iii) above.

Class A Margin: With respect to the Class A-I-A1 Certificates, 0.100%per annum. With respect to the Class A-I-A2 Certificates, 0.170% per annum. Withrespect to the Class A-I-A3 Certificates, initially 0.300% per annum, and on any

Distribution Date on or after the second Distribution Date after the firstpossible Optional Termination Date, 0.600% per annum. With respect to the ClassA-I-B1 Certificates, initially 0.195% per annum, and on any Distribution Date onor after the second Distribution Date after the first possible OptionalTermination Date, 0.390% per annum. With respect to the Class A-I-B2Certificates, initially 0.245% per annum, and on any Distribution Date on orafter the second Distribution Date after the first possible Optional TerminationDate, 0.490% per annum.

Class A Principal Distribution Amount: With respect to any DistributionDate (i) prior to the Stepdown Date or on or after the Stepdown Date if aTrigger Event is in effect for that Distribution Date, the greater of (a) thePrincipal Distribution Amount for that Distribution Date and (b) the sum of theamounts described in clauses (b)(i) through (b)(iii) of the definition ofPrincipal Distribution Amount for that Distribution Date related to the Group IILoans for that Distribution Date or (ii) on or after the Stepdown Date if aTrigger Event is not in effect for that Distribution Date, the greater of (a)the lesser of:

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(i) the Principal Distribution Amount for that Distribution Date; and

(ii) the excess, if any, of (A) the aggregate Certificate Principal Balance of the Class A Certificates immediately prior to that Distribution Date over (B) the lesser of (x) the product of (1) the applicable Subordination Percentage and (2) the aggregate Stated Principal Balance of the Mortgage Loans after giving effect to

distributions to be made on that Distribution Date and (y) the aggregate Stated Principal Balance of the Mortgage Loans after giving effect to distributions to be made on that Distribution Date, less the Overcollateralization Floor

and (b) the sum of the amounts described in clauses (b)(i) through (b)(iii) of the definition of Principal Distribution Amount for that Distribution Date related to the Group II Loans for that Distribution Date.

Class A-I Basis Risk Shortfall: With respect to the Class A-ICertificates and any Distribution Date for which the Pass-Through Rate for anysuch Class of Certificates is equal to the Group I Net WAC Cap Rate, the excess,if any, of (x) Accrued Certificate Interest on that Class of Certificates onsuch Distribution Date, calculated at a rate equal to the lesser of (a) LIBOR

plus the related Class A Margin, as calculated for such Distribution Date, and(b) the Maximum Mortgage Loan Rate, over (y) Accrued Certificate Interest onsuch Class of Class A-I Certificates for such Distribution Date calculated atthe Group I Net WAC Cap Rate.

Class A-I Basis Risk Shortfall Carry-Forward Amount: With respect toeach Class of Class A-I Certificates and any Distribution Date, the sum of (a)the aggregate amount of Basis Risk Shortfall for such Class on such DistributionDate plus (b) any Class A-I Basis Risk Shortfall Carry-Forward Amount for suchClass remaining unpaid from the preceding Distribution Date, plus (c) onemonth's interest on the amount in clause (b) (based on the number of days in thepreceding Interest Accrual Period), to the extent previously unreimbursed byExcess Cash Flow or the Swap Agreement pursuant to Section 4.02(f)(xx) orSection 4.09(c)(E), at a rate equal to the related Pass-Through Rate.

Class A-I Certificate: Any one of the Class A-I-A1, Class A-I-A2, ClassA-I-A3, Class A-I-B1 or Class A-I-B2 Certificates.

Class A-I Principal Distribution Amount: On any Distribution Date, theClass A Principal Distribution Amount minus the sum of (a) the Class A-IIPrincipal Distribution Amount and (b) any Net Swap Payments or Swap TerminationPayment not due to a Swap Provider Trigger Event due to the Swap Counterparty tothe extent not previously paid from interest or principal collections on theGroup I Loans.

Class A-I-A Certificate: Any one of the Class A-I-A1, Class A-I-A2 orClass A-I-A3 Certificates.

Class A-I-B Certificate: Any one of the Class A-I-B1 Certificates orClass A-I-B2 Certificates.

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Class A-I-A Principal Distribution Amount: On any Distribution Date, theClass A-I Principal Distribution Amount multiplied by a fraction, the numeratorof which is the portion of the Principal Allocation Amount related to the GroupIA Loans for that Distribution Date and the denominator of which is thePrincipal Allocation Amount for the Group IA Loans and Group IB Loans for thatDistribution Date.

Class A-I-B Principal Distribution Amount: On any Distribution Date, the

Class A-I Principal Distribution Amount multiplied by a fraction, the numeratorof which is the portion of the Principal Allocation Amount related to the GroupIB Loans for that Distribution Date and the denominator of which is thePrincipal Allocation Amount for the Group IA Loans and Group IB Loans for thatDistribution Date.

Class A-I-A1 Certificate: Any one of the Class A-I-A1 Certificatesexecuted by the Trustee and authenticated by the Certificate Registrarsubstantially in the form annexed hereto as Exhibit A, senior to the Class M,Class B, Class SB and Class R Certificates with respect to distributions and theallocation of Realized Losses as set forth in Section 4.05, and evidencing (i)ownership of an interest designated as a "regular interest" in REMIC III forpurposes of the REMIC Provisions, (ii) the right to receive the Class A-I BasisRisk Shortfall Carry-Forward Amount from the Reserve Fund and the Swap Accountand (iii) the obligation to pay the Class IO Distribution Amount.

Class A-I-A2 Certificate: Any one of the Class A-I-A2 Certificatesexecuted by the Trustee and authenticated by the Certificate Registrarsubstantially in the form annexed hereto as Exhibit A, senior to the Class M,Class B, Class SB and Class R Certificates with respect to distributions and theallocation of Realized Losses as set forth in Section 4.05, and evidencing (i)ownership of an interest designated as a "regular interest" in REMIC III forpurposes of the REMIC Provisions, (ii) the right to receive the Class A-I BasisRisk Shortfall Carry-Forward Amount from the Reserve Fund and the Swap Accountand (iii) the obligation to pay the Class IO Distribution Amount.

Class A-I-A3 Certificate: Any one of the Class A-I-A3 Certificatesexecuted by the Trustee and authenticated by the Certificate Registrarsubstantially in the form annexed hereto as Exhibit A, senior to the Class M,Class B, Class SB and Class R Certificates with respect to distributions and the

allocation of Realized Losses as set forth in Section 4.05, and evidencing (i)ownership of an interest designated as a "regular interest" in REMIC III forpurposes of the REMIC Provisions, (ii) the right to receive the Class A-I BasisRisk Shortfall Carry-Forward Amount from the Reserve Fund and the Swap Accountand (iii) the obligation to pay the Class IO Distribution Amount.

Class A-I-B1 Certificate: Any one of the Class A-I-B1 Certificatesexecuted by the Trustee and authenticated by the Certificate Registrarsubstantially in the form annexed hereto as Exhibit A, senior to the Class M,Class B, Class SB and Class R Certificates with respect to distributions and theallocation of Realized Losses as set forth in Section 4.05, and evidencing (i)ownership of an interest designated as a "regular interest" in REMIC III forpurposes of the REMIC Provisions, (ii) the right to receive the Class A-I BasisRisk Shortfall Carry-Forward Amount from the Reserve Fund and the Swap Accountand (iii) the obligation to pay the Class IO Distribution Amount.

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Class A-I-B2 Certificate: Any one of the Class A-I-B2 Certificatesexecuted by the Trustee and authenticated by the Certificate Registrarsubstantially in the form annexed hereto as Exhibit A, senior to the Class M,Class B, Class SB and Class R Certificates with respect to distributions and theallocation of Realized Losses as set forth in Section 4.05, and evidencing (i)ownership of an interest designated as a "regular interest" in REMIC III forpurposes of the REMIC Provisions, (ii) the right to receive the Class A-I BasisRisk Shortfall Carry-Forward Amount from the Reserve Fund and the Swap Accountand (iii) the obligation to pay the Class IO Distribution Amount.

Class A-II Certificate: Any one of the Class A-II Certificates executedby the Trustee and authenticated by the Certificate Registrar substantially inthe form annexed hereto as Exhibit A, senior to Class M, Class B, Class SB andClass R Certificates with respect to distributions and the allocation ofRealized Losses as set forth in Section 4.05, and evidencing ownership of aninterest designated as a "regular interest" in REMIC III for purposes of theREMIC Provisions.

Class A-II Interest Distribution Amount: With respect to each Class ofClass A-II Certificates and any Distribution Date, the aggregate amount ofAccrued Certificate Interest to be distributed to the holders of such Class ofClass A-II Certificates for such Distribution Date, plus any related AccruedCertificate Interest thereon remaining unpaid from any prior Distribution Date,less any related Prepayment Interest Shortfalls for such Distribution Date notcovered by Eligible Master Servicing Compensation and any Relief Act Shortfallsfor such Distribution Date, allocated as described herein to the Class A-II

Certificates.

Class A-II Principal Distribution Amount: On any Distribution Date, thesum of (a) the amounts described in clauses (b)(i) through (b)(iii) of thedefinition of Principal Distribution Amount for that Distribution Date relatedto the Group II Loans for that Distribution Date, (b) the amount described inclause (b)(iv) of the definition Principal Distribution Amount for thatDistribution Date up to the amount of Realized Losses on the Group II Loans and(c) the amount described in clause (b)(vi) of the definition of PrincipalDistribution Amount for that Distribution Date until the aggregate StatedPrincipal Balance of the Group II Loans equals the Certificate Principal Balanceof the Class A-II Certificates; provided that after the aggregate CertificatePrincipal Balance of the Class M Certificates and Class B Certificates has beenreduced to zero, the amount determined pursuant to clause (b) will be based onthe Realized Losses on the Group II Loans relative to the Realized Losses on allof the Mortgage Loans, and the amount determined pursuant to clause (c) will be

based on the aggregate Stated Principal Balance of the Group II Loans relativeto the aggregate Stated Principal Balance of all of the Mortgage Loans.

Class B Basis Risk Shortfall: With respect to the Class B-1, Class B-2and Class B-3 Certificates and any Distribution Date for which the Pass-ThroughRate for any such Class of Certificates is equal to the Group I Net WAC CapRate, the excess, if any, of (x) Accrued Certificate Interest on that Class ofCertificates on such Distribution Date, using the lesser of (a) LIBOR plus therelated Class B Margin, as calculated for such Distribution Date, and (b) theMaximum Mortgage Loan Rate, over (y) Accrued Certificate Interest on such Classof Class B Certificates for such Distribution Date calculated at the Group I NetWAC Cap Rate.

Class B Basis Risk Shortfall Carry-Forward Amount: With respect to theClass B-1, Class B-2 and Class B-3 Certificates and any Distribution Date, thesum of (a) the aggregate amount of Class B Basis Risk Shortfall for each suchClass on such Distribution Date plus (b) any Class B Basis Risk Shortfall

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Carry-Forward Amount for such Classes remaining unpaid from the precedingDistribution Date, plus (c) one month's interest on the amount in clause (b)(based on the number of days in the preceding Interest Accrual Period), to theextent previously unreimbursed by Excess Cash Flow or the Swap Agreementpursuant to Section 4.02(f)(xx) or Section 4.09(c)(E), at a rate equal to therelated Pass-Through Rate.

Class B Certificate: Any one of the Class B-1, Class B-2 or Class B-3

Certificates.

Class B Margin: With respect to each class of the Class B Certificates,initially 3.000% per annum, and on any Distribution Date on or after the secondDistribution Date after the first possible Optional Termination Date, 4.500% perannum.

Class B-1 Certificate: Any one of the Class B-1 Certificates executed bythe Trustee and authenticated by the Certificate Registrar substantially in theform annexed hereto as Exhibit C, senior to the Class B-2, Class B-3, Class SBand Class R Certificates with respect to distributions and the allocation ofRealized Losses as set forth in Section 4.05, and evidencing (i) an interestdesignated as a "regular interest" in REMIC III for purposes of the REMICProvisions, (ii) the right to receive the Class B Basis Risk ShortfallCarry-Forward Amount from the Reserve Fund and the Swap Account and (iii) the

obligation to pay the Class IO Distribution Amount.

Class B-1 Interest Distribution Amount: With respect to the Class B-1Certificates and any Distribution Date, the aggregate amount of AccruedCertificate Interest to be distributed to the holders of such Class for suchDistribution Date, plus any related Accrued Certificate Interest remainingunpaid from any prior Distribution Date, less any Prepayment Interest Shortfallsfor such Distribution Date not covered by Eligible Master Servicing Compensationand any Relief Act Shortfalls for such Distribution Date allocated as describedherein to the Class B-1 Certificates.

Class B-1 Principal Distribution Amount: With respect to anyDistribution Date (i) prior to the Stepdown Date or on or after the StepdownDate if a Trigger Event is in effect for that Distribution Date, the remainingPrincipal Distribution Amount for that Distribution Date after distribution of

the Class A, Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6,Class M-7, Class M-8 and Class M-9 Principal Distribution Amounts (reduced byany Net Swap Payments or Swap Termination Payment not due to a Swap ProviderTrigger Event due to the Swap Counterparty to the extent not previously paidfrom interest or principal collections on the Group I Loans) or (ii) on or afterthe Stepdown Date if a Trigger Event is not in effect for that DistributionDate, (a) the lesser of:

(i) the remaining Principal Distribution Amount for that Distribution Date after distribution of the Class A, Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8 and Class M-9 Principal Distribution Amounts; and

(ii) the excess, if any, of (A) the sum of (1) the aggregate Certificate Principal Balance of the Class A, Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8 and Class M-9 Certificates (after taking into account the payment of the Class A, Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8 and Class M-9 Principal Distribution Amounts

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for that Distribution Date) and (2) the Certificate Principal Balance of the Class B-1 Certificates immediately prior to that Distribution Date over (B) the lesser of (x) the product of (1) the applicable Subordination Percentage and (2) the aggregate Stated Principal Balance of the Mortgage Loans after giving effect to distributions to be made on that Distribution Date and (y) the aggregate Stated Principal Balance of the Mortgage Loans after giving effect to distributions to be made that Distribution Date, less the Overcollateralization Floor

minus (b) any Net Swap Payments or Swap Termination Payment not due to a Swap Provider Trigger Event due to the Swap Counterparty to the extent not previously paid from interest or principal collections on the Group I Loans.

Class B-2 Certificate: Any one of the Class B-2 Certificates executed byth

2005-RS3 Pooling & Servicing Agreement

Documents

Transcript of 2005-RS3 Pooling & Servicing Agreement