State of North Carolina
                      Department of the Secretary of State

                            ARTICLES OF ORGANIZATION
                        INCLUDING ARTICLES OF CONVERSION

Pursuant to ss.ss. 57C-2-21,  57C-9A-01 and 57C-9A-03 of the General Statutes of
North Carolina,  the undersigned  converting  business entity does hereby submit
these Articles of Organization  Including Articles of Conversion for the purpose
of forming a limited liability company.

1.   The name of the limited liability company is: WACHOVIA ASSET SECURITIZATION
     ISSUANCE,  LLC. The limited liability company is being formed pursuant to a
     conversion of another business entity.

2.   The  name  of  the   converting   business   entity   is   WACHOVIA   ASSET
     SECURITIZATION,  INC.  and the  organization  and  internal  affairs of the
     converting business entity are governed by the laws of the state or country
     of North Carolina.

     A plan of conversion has been approved by the converting business entity as
     required by law.

3.   The converting business entity is a (check one): [X] domestic  corporation;
     [ ]  foreign  corporation;  [ ]  foreign  limited  liability  company;  [ ]
     domestic limited partnership;  [ ]foreign limited partnership; [ ] domestic
     registered  limited  liability  partnership;  [ ] foreign limited liability
     partnership;  or [ ] other partnership as defined in G.S. 59-36, whether or
     not formed under the laws of North Carolina.

4.   If the limited  liability  company is to dissolve by a specific  date,  the
     latest date on which the limited liability  company is to dissolve:  (If no
     date for dissolution is specified,  there shall be no limit on the duration
     of                  the                  limited                  liability
     company.)__________________________________________________

5.   The  name  and  address  of  each  person   executing   these  articles  of
     organization  is as follows:  (State whether each person is executing these
     articles of organization in the capacity of a member, organizer or both).

       ROBERT J. HAHN, ORGANIZER
       C/O HUNTON & WILLIAMS LLP
       101 S. TRYON STREET, SUITE 3500
       CHARLOTTE, NC 28280

6.   The street  address  and  county of the  initial  registered  office of the
     limited liability company is:

     Number and Street: 327 HILLSBOROUGH STREET

     City, State, Zip Code:      RALEIGH, NC 27603        County:  WAKE

7.   The mailing address is the same as that of the initial registered office.

8.   The name of the initial registered agent is: CORPORATION SERVICE COMPANY

CORPORATIONS DIVISION              P.O. BOX 29622         RALEIGH, NC 27626-0622
(Revised January 200)                                               (Form L-01A)





9.   Principal office information: (Select either a or b.)

     a.   [X] The limited liability company has a principal office.

          o    The  street  address  and county of the  principal  office of the
               limited liability company is:

               Number and Street: ONE WACHOVIA CENTER, 301 SOUTH COLLEGE STREET,
                                  SUITE D

               City, State, Zip Code: CHARLOTTE, NC 28202-5578
               County: MECKLENBURG

               The mailing address, if different from the street address, of the
               principal office of the limited liability company is:
               Not Applicable.

     b.   The limited liability company does not have a principal office.

10. Check one of the following:

          [ ] (i)  Member-managed  LLC: all members by virtue of their status as
          members shall be managers of this limited liability company.

          [X] (ii) Manager-managed  LLC: except as provided by N.C.G.S.  Section
          57C-3-20(a),  the members of this limited  liability company shall not
          be managers by virtue of their status as members.

11.  Any other provisions which the limited  liability company elects to include
     are attached. None.

12.  These articles will be effective upon filing.


This is the 30th day of October 2003.

                                            ORGANIZER



                                            /s/ Robert J. Hahn
                                            ------------------------------------
                                            Robert J. Hahn, Esquire








NOTES:
1. Filing fee is $125. This document must be



CORPORATIONS DIVISION              P.O. BOX 29622         RALEIGH, NC 27626-0622
(Revised January 200)                                               (Form L-01A)