CLASS X1 PASSTHROUGH RATE

CLASS X1 PASSTHROUGH RATE. On any Distribution Date, the weighted average of the excess of (a) the Net Mortgage Rate on each Non-Discount Mortgage Loan in Loan Group I over (b) 8.00% per annum. For federal income tax purposes, however, the Class X-1 Certificates will not have a Class X-1 Pass-Through Rate, and the Accrued Certificate Interest for the Class X-1 Certificates and any Distribution Date will be deemed to be 100% of the amount distributed on REMIC I Regular Interest LTI-XI for such Distribution Date.