Base Offering Circular - Multifamily 482090 5 For any Special Excess Distribution Date, investors can calculate the amount of principal to be distributed on any Class by multiplying the Original Class Principal Balance of that Class by the difference between its Class Factor for the preceding Distribution Date and its Adjusted Class Factor for that Special Excess Distribution Date. Only 30 days’ interest accrues on each Class during each month:  no additional interest will accrue on any Class because principal payable to that Class is paid on a Special Excess Distribution Date rather than on the Distribution Date occurring in the same month. Method of Distributions Distributions of principal and interest (or, where applicable, of principal only or interest only) and related Prepayment Penalties, if any, on a Series (or, if the Series is segregated into Security Groups, on a Security Group) will be made on each Distribution Date for that Series (or Security Group) (or, with respect to Residual Securities, the Business Day following the Distribution Date) to the Persons in whose names the Securities are registered on the related Record Date.  Distributions of each Special Excess Distribution will be made on a Special Excess Distribution Date to the Persons in whose names the Securities are registered on the related Record Date. The Trustee will make distributions of principal, interest and Prepayment Penalties, if any, on any Book-Entry Securities to the Book-Entry Depository, and Beneficial Owners will receive distributions through credits to accounts maintained on the books and records of appropriate financial intermediaries (including the Book-Entry Depository, as Holder) for the benefit of those Beneficial Owners. The Trustee will make any distribution on a Residual Security by check mailed to the Holder at the Holder’s address as it appears in the applicable Register on the applicable Record Date. Interest Rate Indices Unless otherwise provided in the related Offering Circular Supplement, each Floating Rate and Inverse Floating Rate Class will bear interest during each Accrual Period for that Class by reference to one of the following indices: “LIBOR,” “COFI,” a “Treasury Index,” or the “Prime Rate,” each as defined in the glossary in Appendix II (or any other index set forth in the related Offering Circular Supplement). Classes bearing interest by reference to the above- mentioned indices are called “LIBOR Classes,” “COFI Classes,” “Treasury Index Classes” and “Prime Rate Classes,” respectively. The Trustee will determine the applicable interest rate index level in accordance with the procedures described below and will compare its results with the interest rate index level posted by the Information Agent on gREX. If there is a discrepancy, the Trustee and Information Agent will attempt to resolve it, but ultimately, absent clear error, the determination by the Trustee or its agent of the applicable interest rate index levels and its calculation of the Interest Rates of the