Base Offering Circular - Multifamily
482090
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Pooling REMIC Interest.............
Each of the Pooling REMIC Regular Interests and each
Pooling REMIC Residual Interest.
Pooling REMIC Regular
Interest........................................
Each of the Regular Interests in a Pooling REMIC.
Pooling REMIC
Residual Interest.........................
The Residual Interest in a Pooling REMIC.
Pooling REMIC Subaccounts ....
In the case of a Double REMIC Series, the accounts
established by the Trustee for tax purposes that represent the
Pooling REMIC Regular Interests.
Prepayment Penalty....................
With respect to any Mortgage Loan, a fee, equal to a
specified percentage of the principal amount of the
Mortgage Loan, that is required by the terms of the
Mortgage Loan to be paid in connection with voluntary and
certain involuntary prepayments.
Prepayment Penalty End Date....
With respect to any Mortgage Loan, the date as of which
any such Mortgage Loan would no longer be subject to the
payment of any Prepayment Penalties.
Prime Rate..................................
The prime lending rate of major banks as published in The
Wall Street Journal or, if not available from The Wall Street
Journal, as determined by the Trustee in accordance with
the Trust Agreement.
Prime Rate Class ........................
A Class bearing interest at a rate determined by reference to
the Prime Rate.
Principal Distribution Amount...
With respect to each REMIC Series and each Distribution
Date, the sum of (I) with respect to each Ginnie Mae
Multifamily Certificate for which no Adjusted Certificate
Factor was calculated during the preceding month, the
amount by which (a) the product of (i) the original principal
amount of that Ginnie Mae Multifamily Certificate and (ii)
the Certificate Factor, Corrected Certificate Factor or
Calculated Certificate Factor, as applicable, for the
preceding Distribution Date exceeds (b) the product of (i)
the original principal amount of the Ginnie Mae
Multifamily Certificate and (ii) the Certificate Factor,
Corrected Certificate Factor or Calculated Certificate
Factor, as applicable, for the current Distribution Date; and
(II) with respect to each Ginnie Mae Multifamily Certificate
for which an Adjusted Certificate Factor was calculated
during the preceding month, the amount by which (a) the