IZF is a well investigated impredicative constructive version of Zermelo-Fraenkel set theory. Using set terms, we axiomatize IZF with Replacement, which we call IZF_R, along with its intensional counterpart IZF_R^-. We define a typed lambda calculus corresponding to proofs in IZF_R^- according to the Curry-Howard isomorphism principle. Using realizability for IZF_R^-, we show weak normalization of the calculus by employing a reduction-preserving erasure map from lambda terms to realizers. We use normalization to prove disjunction, numerical existence, set existence and term existence properties. An inner extensional model is used to show the properties for full, extensional IZF_R.