EXHIBIT 10.3
J.P. MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP.,
PURCHASER
NOMURA CREDIT & CAPITAL, INC.,
SELLER
MORTGAGE LOAN PURCHASE AGREEMENT
Dated as of March 1, 2007
Fixed Rate Mortgage Loans
Series 2007-LDP10
<PAGE>
This Mortgage Loan Purchase Agreement (this "Agreement"), dated
as
of March 1, 2007, is between J.P. Morgan Chase Commercial Mortgage
Securities
Corp., as purchaser (the "Purchaser"), and Nomura Credit &
Capital, Inc., as
seller (the "Seller").
Capitalized terms used in this Agreement not defined herein
shall
have the meanings ascribed to them in the Pooling and Servicing
Agreement dated
as of March 1, 2007 (the "Pooling and Servicing Agreement") among
the Purchaser,
as depositor (the "Depositor"), Midland Loan Services, Inc. and
Wachovia Bank,
National Association, as master servicers (each, a "Master
Servicer"), J.E.
Robert Company, Inc., as special servicer (the "Special Servicer"),
Wells Fargo
Bank, N.A., as trustee (the "Trustee") and LaSalle Bank National
Association, as
co-trustee (the "Co-Trustee"), pursuant to which the Purchaser will
sell the
Mortgage Loans (as defined herein) to a trust fund and certificates
representing
ownership interests in the Mortgage Loans will be issued by the
trust fund. For
purposes of this Agreement, the term "Mortgage Loans" refers to the
mortgage
loans listed on Exhibit A and the term "Mortgaged Properties"
refers to the
properties securing such Mortgage Loans.
The Purchaser and the Seller wish to prescribe the manner of sale
of
the Mortgage Loans from the Seller to the Purchaser and in
consideration of the
premises and the mutual agreements hereinafter set forth, agree as
follows:
SECTION 1. Sale and Conveyance of Mortgages; Possession of
Mortgage
File. Effective as of the Closing Date and upon receipt of the
purchase price
set forth in the immediately succeeding paragraph, the Seller does
hereby sell,
transfer, assign, set over and convey to the Purchaser, without
recourse
(subject to certain agreements regarding servicing as provided in
the Pooling
and Servicing Agreement, subservicing agreements permitted
thereunder and that
certain Servicing Rights Purchase Agreement, dated as of the
Closing Date
between the applicable Master Servicer and the Seller) all of its
right, title,
and interest in and to the Mortgage Loans including all interest
and principal
received on or with respect to the Mortgage Loans after the Cut-off
Date (other
than payments of principal and interest first due on the Mortgage
Loans on or
before the Cut-off Date). Upon the sale of the Mortgage Loans, the
ownership of
each related Mortgage Note, the Mortgage and the other contents of
the related
Mortgage File will be vested in the Purchaser and immediately
thereafter the
Trustee and the ownership of records and documents with respect to
the related
Mortgage Loan prepared by or which come into the possession of the
Seller (other
than the records and documents described in the proviso to Section
3(a) hereof)
shall immediately vest in the Purchaser and immediately thereafter
the Trustee.
The Seller's records will accurately reflect the sale of each
Mortgage Loan to
the Purchaser. The Depositor will sell the Class A-1, Class A-1S,
Class A-2,
Class A-2S, Class A-2SFL, Class A-3, Class A-3S, Class A-1A, Class
X, Class A-M,
Class A-MS, Class A-J, Class A-JFL, Class A-JS, Class B-S, Class
C-S and Class
D-S Certificates (the "Offered Certificates") to the underwriters
(the
"Underwriters") specified in the underwriting agreement dated March
26, 2007
(the "Underwriting Agreement") between the Depositor and J.P.
Morgan Securities
Inc. ("JPMSI") for itself and as representative of the several
underwriters
identified therein, and the Depositor will sell the Class B, Class
C, Class D,
Class E, Class E-S, Class F, Class F-S, Class G, Class G-S, Class
H, Class H-S,
Class J, Class K, Class L, Class M, Class N, Class P and Class NR
Certificates
(the "Private Certificates") to JPMSI and UBS Securities LLC, the
initial
purchasers (together with the Underwriters, the "Dealers")
specified in the
certificate purchase agreement dated March 26, 2007 (the
"Certificate Purchase
Agreement"), between the Depositor and JPMSI for itself and as
representative of
the initial purchasers identified therein.
The sale and conveyance of the Mortgage Loans is being conducted
on
an arms length basis and upon commercially reasonable terms. As the
purchase
price for the Mortgage Loans, the Purchaser shall pay to the Seller
or at the
Seller's direction in immediately available funds the sum of
$1,265,015,257.72
(which amount is inclusive of accrued interest and exclusive of the
Seller's pro
rata share of the costs set forth in Section 9 hereof). The
purchase and sale of
the Mortgage Loans shall take place on the Closing Date.
SECTION 2. Books and Records; Certain Funds Received After the
Cut-off Date. From and after the sale of the Mortgage Loans to the
Purchaser,
record title to each Mortgage and the related Mortgage Note shall
be transferred
to the Trustee in accordance with this Agreement. Any funds due
after the
Cut-off Date in connection with a Mortgage Loan received by the
Seller shall be
held in trust for the benefit of the Trustee as the owner of such
Mortgage Loan
and shall be transferred promptly to the applicable Master
Servicer. All
scheduled payments of principal and interest due on or before the
Cut-off Date
but collected after the Cut-off Date, and recoveries of principal
and interest
collected on or before the Cut-off Date (only in respect of
principal and
interest on the Mortgage Loans due on or before the Cut-off Date
and principal
prepayments thereon), shall belong to, and shall be promptly
remitted to, the
Seller.
The transfer of each Mortgage Loan shall be reflected on the
Seller's balance sheets and other financial statements as a sale of
the Mortgage
Loans by the Seller to the Purchaser. The Seller intends to treat
the transfer
of each Mortgage Loan to the Purchaser as a sale for tax
purposes.
The transfer of each Mortgage Loan shall be reflected on the
Purchaser's balance sheets and other financial statements as a
purchase of the
Mortgage Loans by the Purchaser from the Seller. The Purchaser
intends to treat
the transfer of each Mortgage Loan from the Seller as a purchase
for tax
purposes.
SECTION 3. Delivery of Mortgage Loan Documents; Additional Costs
and
Expenses. (a) The Purchaser hereby directs the Seller, and the
Seller hereby
agrees, upon the transfer of the Mortgage Loans contemplated
herein, to deliver
on the Closing Date to the Trustee or a Custodian appointed
thereby, all
documents, instruments and agreements required to be delivered by
the Purchaser
to the Trustee with respect to the Mortgage Loans under Sections
2.01(b) and
2.01(c) of the Pooling and Servicing Agreement, and meeting all the
requirements
of such Sections 2.01(b) and 2.01(c), and such other documents,
instruments and
agreements as the Purchaser or the Trustee shall reasonably
request. In
addition, the Seller agrees to deliver or cause to be delivered to
the
applicable Master Servicer, the Servicing File for each Mortgage
Loan
transferred pursuant to this Agreement; provided that the Seller
shall not be
required to deliver any draft documents, or any attorney client
communications
which are privileged communications or constitute legal or other
due diligence
analyses, or internal communications of the Seller or its
affiliates, or credit
underwriting or other analyses or data.
(b)
With respect to the transfer described in Section 1 hereof, if
the Mortgage Loan documents do not require the related Mortgagor to
pay any
costs and expenses relating to any modifications to a related
letter of credit
which modifications are required to effectuate such transfer (the
"Transfer
Modification Costs"), then the Seller shall pay the Transfer
Modification Costs
required to transfer the letter of credit to the Trustee as
described in such
Section 1; provided that if the Mortgage Loan documents require the
related
Mortgagor to pay any Transfer Modification Costs, such Transfer
Modification
Costs shall be an expense of the Mortgagor unless such Mortgagor
fails to pay
such Transfer Modification Costs after the applicable Master
Servicer has
exercised all remedies available under the applicable Mortgage Loan
documents to
collect such Transfer Modification Costs from such Mortgagor, in
which case the
applicable Master Servicer shall give the Seller notice of such
failure and the
amount of such Transfer Modification costs and the Seller shall pay
such
Transfer Modification Costs.
SECTION 4. Treatment as a Security Agreement. The Seller,
concurrently with the execution and delivery hereof, has conveyed
to the
Purchaser, all of its right, title and interest in and to the
Mortgage Loans.
The parties intend that such conveyance of the Seller's right,
title and
interest in and to the Mortgage Loans pursuant to this Agreement
shall
constitute a purchase and sale and not a loan. If such conveyance
is deemed to
be a pledge and not a sale, then the parties also intend and agree
that the
Seller shall be deemed to have granted, and in such event does
hereby grant, to
the Purchaser, a first priority security interest in all of its
right, title and
interest in, to and under the Mortgage Loans, all payments of
principal or
interest on such Mortgage Loans due after the Cut-off Date, all
other payments
made in respect of such Mortgage Loans after the Cut-off Date
(except to the
extent such payments were due on or before the Cut-off Date) and
all proceeds
thereof and that this Agreement shall constitute a security
agreement under
applicable law. If such conveyance is deemed to be a pledge and not
a sale, the
Seller consents to the Purchaser hypothecating and transferring
such security
interest in favor of the Trustee and transferring the obligation
secured thereby
to the Trustee.
SECTION 5. Covenants of the Seller. The Seller covenants with
the
Purchaser as follows:
(a) it shall record or cause a third party to record in the
appropriate public recording office for real property the
intermediate
assignments of the Mortgage Loans and the Assignments of Mortgage
from the
Seller to the Trustee in connection with the Pooling and Servicing
Agreement.
All recording fees relating to the initial recordation of such
intermediate
assignments and Assignments of Mortgage shall be paid by the
Seller;
(b) it shall take any action reasonably required by the
Purchaser,
the Trustee or the applicable Master Servicer, in order to assist
and facilitate
in the transfer of the servicing of the Mortgage Loans to the
applicable Master
Servicer, including effectuating the transfer of any letters of
credit with
respect to any Mortgage Loan to the Trustee (in care of the
applicable Master
Servicer) for the benefit of Certificateholders. Prior to the date
that a letter
of credit, if any, with respect to any Mortgage Loan is transferred
to the
Trustee (in care of the applicable Master Servicer), the Seller
will cooperate
with the reasonable requests of the applicable Master Servicer or
Special
Servicer, as applicable, in connection with effectuating a draw
under such
letter of credit as required under the terms of the related
Mortgage Loan
documents;
(c) if, during such period of time after the first date of the
public offering of the Offered Certificates as in the opinion of
counsel for the
Underwriters, a prospectus relating to the Offered Certificates is
required by
applicable law to be delivered in connection with sales thereof by
an
Underwriter or a Dealer, any event shall occur as a result of which
it is
necessary to amend or supplement the Prospectus Supplement,
including Annexes
A-1, A-2, A-3 and B thereto and the Diskette included therewith,
with respect to
any information relating to the Mortgage Loans or the Seller, in
order to make
the statements therein, in the light of the circumstances when the
Prospectus
Supplement is delivered to a purchaser, not misleading, or if it is
necessary to
amend or supplement the Prospectus Supplement, including Annexes
A-1, A-2, A-3
and B thereto and the Diskette included therewith, with respect to
any
information relating to the Mortgage Loans or the Seller, to comply
with
applicable law, the Seller shall do all things necessary to assist
the Depositor
to prepare and furnish, at the expense of the Seller (to the extent
that such
amendment or supplement relates to the Seller, the Mortgage Loans
listed on
Exhibit A and/or any information relating to the same, as provided
by the
Seller), to the Underwriters such amendments or supplements to the
Prospectus
Supplement as may be necessary, so that the statements in the
Prospectus
Supplement as so amended or supplemented, including Annexes A-1,
A-2, A-3 and B
thereto and the Diskette included therewith, with respect to any
information
relating to the Mortgage Loans or the Seller, will not, in the
light of the
circumstances when the Prospectus is so amended or supplemented, be
misleading
or so that the Prospectus Supplement, including Annexes A-1, A-2,
A-3 and B
thereto and the Diskette included therewith, with respect to any
information
relating to the Mortgage Loans or the Seller, will comply with
applicable law.
All terms used in this clause (c) and not otherwise defined herein
shall have
the meaning set forth in the Indemnification Agreement, dated as of
March 26,
2007 between the Purchaser and the Seller (the "Indemnification
Agreement"); and
(d) for so long as the Trust is subject to the reporting
requirements of the Exchange Act, the Seller shall provide the
Purchaser (or
with respect to any Companion Loan related to a Serviced Whole Loan
or any
Serviced Securitized Companion Loan that is deposited into an
Other
Securitization or a Regulation AB Companion Loan Securitization,
the depositor
in such Other Securitization or Regulation AB Companion Loan
Securitization) and
the Trustee with any Additional Form 10-D Disclosure and any
Additional Form
10-K Disclosure set forth next to the Purchaser's name (only with
respect to
disclosure related to Items 1117 or 1119 of Regulation AB) on
Schedule X and
Schedule Y of the Pooling and Servicing Agreement within the time
periods set
forth in the Pooling and Servicing Agreement.
SECTION 6. Representations and Warranties.
(a) The Seller represents and warrants to the Purchaser as of
the
Closing Date that:
(i) it is a corporation, duly organized, validly existing and
in
good
standing under the laws of the State of Delaware;
(ii) it has the power and authority to own its property and to
carry
on its
business as now conducted;
(iii) it has the power to execute, deliver and perform this
Agreement;
(iv) it is legally authorized to transact business in the State
of
New York.
The Seller is in compliance with the laws of each state in
which
any
Mortgaged Property is located to the extent necessary so that a
subsequent
holder of the related Mortgage Loan (including, without
limitation, the Purchaser) that is in compliance with the laws of
such
state
would not be prohibited from enforcing such Mortgage Loan solely
by
reason of
any non-compliance by the Seller;
(v) the execution, delivery and performance of this Agreement by
the
Seller
have been duly authorized by all requisite action by the
Seller's
board of
directors and will not violate or breach any provision of its
organizational documents;
(vi) this Agreement has been duly executed and delivered by the
Seller and
constitutes a legal, valid and binding obligation of the
Seller,
enforceable against it in accordance with its terms (except as
enforcement thereof may be limited by bankruptcy, receivership,
conservatorship, reorganization, insolvency, moratorium or other
laws
affecting
the enforcement of creditors' rights generally and by general
equitable
principles regardless of whether enforcement is considered in a
proceeding
in equity or at law);
(vii) there are no legal or governmental proceedings pending to
which the
Seller is a party or of which any property of the Seller is the
subject
which, if determined adversely to the Seller, would reasonably
be
expected
to adversely affect (A) the transfer of the Mortgage Loans and
the
Mortgage Loan documents as contemplated herein, (B) the execution
and
delivery
by the Seller or enforceability against the Seller of the
Mortgage Loans
or this Agreement, or (C) the performance of the Seller's
obligations hereunder;
(viii) it has no actual knowledge that any statement, report,
officer's
certificate or other document prepared and furnished or to be
furnished
by the Seller in connection with the transactions contemplated
hereby
(including, without limitation, any financial cash flow models
and
underwriting file abstracts furnished by the Seller) contains any
untrue
statement
of a material fact or omits to state a material fact necessary
in order
to make the statements contained therein, in the light of the
circumstances under which they were made, not misleading;
(ix) it is not, nor with the giving of notice or lapse of time
or
both would
be, in violation of or in default under any indenture,
mortgage,
deed of trust, loan agreement or other agreement or instrument
to which
it is a party or by which it or any of its properties is bound,
except for
violations and defaults which individually and in the aggregate
would not
have a material adverse effect on the transactions contemplated
herein;
the sale of the Mortgage Loans and the performance by the
Seller
of all of
its obligations under this Agreement and the consummation by
the
Seller of
the transactions herein contemplated do not conflict with or
result in
a breach of any of the terms or provisions of, or constitute a
default
under, any material indenture, mortgage, deed of trust, loan
agreement
or other agreement or instrument to which the Seller is a party
or by
which the Seller is bound or to which any of the property or
assets
of the
Seller is subject, nor will any such action result in any
violation
of the
provisions of any applicable law or statute or any order, rule
or
regulation
of any court or governmental agency or body having jurisdiction
over the
Seller, or any of its properties, except for conflicts,
breaches,
defaults
and violations which individually and in the aggregate would
not
have a
material adverse effect on the transactions contemplated
herein;
and no
consent, approval, authorization, order, license, registration
or
qualification of or with any such court or governmental agency or
body is
required
for the consummation by the Seller of the transactions
contemplated by this Agreement, other than any consent,
approval,
authorization, order, license, registration or qualification that
has been
obtained
or made;
(x) it has either (A) not dealt with any Person (other than the
Purchaser
or the Dealers or their respective affiliates or any servicer
of
a Mortgage
Loan) that may be entitled to any commission or compensation in
connection
with the sale or purchase of the Mortgage Loans or entering
into this
Agreement or (B) paid in full any such commission or
compensation (except with respect to any servicer of a Mortgage
Loan, any
commission
or compensation that may be due and payable to such servicer if
such
servicer is terminated and does not continue to act as a
servicer);
and
(xi) it is solvent and the sale of the Mortgage Loans hereunder
will
not cause
it to become insolvent; and the sale of the Mortgage Loans is
not
undertaken with the intent to hinder, delay or defraud any of
the
Seller's
creditors.
(b) The Purchaser represents and warrants to the Seller as of
the
Closing Date that:
(i) it is a corporation duly organized, validly existing, and
in
good
standing in the State of Delaware;
(ii) it is duly qualified as a foreign corporation in good
standing
in all
jurisdictions in which ownership or lease of its property or
the
conduct of
its business requires such qualification, except where the
failure to
be so qualified would not have a material adverse effect on the
Purchaser,
and the Purchaser is conducting its business so as to comply in
all
material respects with the applicable statutes, ordinances, rules
and
regulations of each jurisdiction in which it is conducting
business;
(iii) it has the power and authority to own its property and to
carry on
its business as now conducted;
(iv) it has the power to execute, deliver and perform this
Agreement,
and neither the execution and delivery by the Purchaser of this
Agreement,
nor the consummation by the Purchaser of the transactions
herein
contemplated, nor the compliance by the Purchaser with the
provisions
hereof, will (A) conflict with or result in a breach of, or
constitute
a default under, any of the provisions of the certificate of
incorporation or by-laws of the Purchaser or any of the provisions
of any
law,
governmental rule, regulation, judgment, decree or order binding
on
the
Purchaser or any of its properties, or any indenture, mortgage,
contract
or other instrument or agreement to which the Purchaser is a
party or
by which it is bound, or (B) result in the creation or
imposition
of any
lien, charge or encumbrance upon any of the Purchaser's
property
pursuant
to the terms of any such indenture, mortgage, contract or other
instrument
or agreement;
(v) this Agreement constitutes a legal, valid and binding
obligation
of the
Purchaser enforceable against it in accordance with its terms
(except as
enforcement thereof may be limited by (a) bankruptcy,
receivership, conservatorship, reorganization, insolvency,
moratorium or
other laws
affecting the enforcement of creditors' rights generally and
(b)
general equitable principles (regardless of whether enforcement
is
considered
in a proceeding in equity or law));
(vi) there are no legal or governmental proceedings pending to
which
the
Purchaser is a party or of which any property of the Purchaser is
the
subject
which, if determined adversely to the Purchaser, might
interfere
with or
adversely affect the consummation of the transactions
contemplated
herein and
in the Pooling and Servicing Agreement; to the best of the
Purchaser's knowledge, no such proceedings are threatened or
contemplated
by any
governmental authorities or threatened by others;
(vii) it is not in default with respect to any order or decree
of
any court
or any order, regulation or demand of any federal, state
municipal
or governmental agency, which default might have consequences
that would
materially and adversely affect the condition (financial or
other) or
operations of the Purchaser or its properties or might have
consequences that would materially and adversely affect its
performance
hereunder;
(viii) it has not dealt with any broker, investment banker, agent
or
other
person, other than the Seller, the Dealers and their respective
affiliates, that may be entitled to any commission or compensation
in
connection
with the purchase and sale of the Mortgage Loans or the
consummation of any of the transactions contemplated hereby;
(ix) all consents, approvals, authorizations, orders or filings
of
or with
any court or governmental agency or body, if any, required for
the
execution,
delivery and performance of this Agreement by the Purchaser
have been
obtained or made; and
(x) it has not intentionally violated any provisions of the
United
States
Secrecy Act, the United States Money Laundering Control Act of
1986
or the
United States International Money Laundering Abatement and
Anti-Terrorism Financing Act of 2001.
(c) The Seller further makes the representations and warranties
as
to the Mortgage Loans set forth in Exhibit B as of the Closing Date
(or as of
such other date if specifically provided in the particular
representation or
warranty), which representations and warranties are subject to the
exceptions
thereto set forth in Exhibit C. Neither the delivery by the Seller
of the
Mortgage Files, Servicing Files, or any other documents required to
be delivered
under Section 2.01 of the Pooling and Servicing Agreement, nor the
review
thereof or any other due diligence by the Trustee, any Master
Servicer, the
Special Servicer, a Certificate Owner or any other Person shall
relieve the
Seller of any liability or obligation with respect to any
representation or
warranty or otherwise under this Agreement or constitute notice to
any Person of
a Breach or Defect.
(d) Pursuant to this Agreement or Section 2.03(b) of the Pooling
and
Servicing Agreement, the Seller and the Purchaser shall be given
notice of any
Breach or Defect that materially and adversely affects the value of
any Mortgage
Loan, the value of the related Mortgaged Property or the interests
of the
Trustee or any Certificateholder therein.
(e) Upon notice pursuant to Section 6(d) above, the Seller
shall,
not later than 90 days from the earlier of the Seller's receipt of
the notice
or, in the case of a Defect or Breach relating to a Mortgage Loan
not being a
"qualified mortgage" within the meaning of Section 860G(a)(3) of
the Code, but
without regard to the rule of Treasury Regulation Section
1.860G-2(f)(2) that
causes a defective mortgage loan to be treated as a qualified
mortgage, the
Seller's discovery of such Breach or Defect (the "Initial
Resolution Period"),
(i) cure such Defect or Breach, as the case may be, in all material
respects,
(ii) repurchase the affected Mortgage Loan at the applicable
Repurchase Price
(as defined below) or (iii) substitute a Qualified Substitute
Mortgage Loan (as
defined below) for such affected Mortgage Loan (provided that in no
event shall
any such substitution occur later than the second anniversary of
the Closing
Date) and pay the applicable Master Servicer for deposit into the
Certificate
Account, any Substitution Shortfall Amount (as defined below) in
connection
therewith; provided, however, that except with respect to a Defect
resulting
solely from the failure by the Seller to deliver to the Trustee or
Custodian the
actual policy of lender's title insurance required pursuant to
clause (ix) of
the definition of Mortgage File by a date not later than 18 months
following the
Closing Date, if such Breach or Defect is capable of being cured
but is not
cured within the Initial Resolution Period, and the Seller has
commenced and is
diligently proceeding with the cure of such Breach or Defect within
the Initial
Resolution Period, the Seller shall have an additional 90 days
commencing
immediately upon the expiration of the Initial Resolution Period
(the "Extended
Resolution Period") to complete such cure (or, failing such cure,
to repurchase
the related Mortgage Loan or substitute a Qualified Substitute
Mortgage Loan as
described above); and provided, further, that with respect to the
Extended
Resolution Period the Seller shall have delivered an officer's
certificate to
the Rating Agencies, the applicable Master Servicer, the Special
Servicer, the
Trustee and the Directing Certificateholder setting forth the
reason such Breach
or Defect is not capable of being cured within the Initial
Resolution Period and
what actions the Seller is pursuing in connection with the cure
thereof and
stating that the Seller anticipates that such Breach or Defect will
be cured
within the Extended Resolution Period. Notwithstanding the
foregoing, any Defect
or Breach which causes any Mortgage Loan not to be a "qualified
mortgage"
(within the meaning of Section 860G(a)(3) of the Code, without
regard to the
rule of Treasury Regulations Section 1.860G-2(f)(2) which causes a
defective
mortgage loan to be treated as a qualified mortgage) shall be
deemed to
materially and adversely affect the interests of the holders of the
Certificates
therein, and such Mortgage Loan shall be repurchased or a Qualified
Substitute
Mortgage Loan substituted in lieu thereof without regard to the
extended cure
period described in the preceding sentence. If the affected
Mortgage Loan is to
be repurchased, the Seller shall remit the Repurchase Price
(defined below) in
immediately available funds to the Trustee.
If any Breach pertains to a representation or warranty that the
related Mortgage Loan documents or any particular Mortgage Loan
document
requires the related Mortgagor to bear the costs and expenses
associated with
any particular action or matter under such Mortgage Loan
document(s), then
Seller shall cure such Breach within the applicable cure period (as
the same may
be extended) by reimbursing the Trust Fund (by wire transfer of
immediately
available funds) the reasonable amount of any such costs and
expenses incurred
by the applicable Master Servicer, the Special Servicer, the
Trustee or the
Trust Fund that are the basis of such Breach and have not been
reimbursed by the
related Mortgagor; provided, however, that in the event any such
costs and
expenses exceed $10,000, the Seller shall have the option to either
repurchase
or substitute for the related Mortgage Loan as provided above or
pay such costs
and expenses. Except as provided in the proviso to the immediately
preceding
sentence, the Seller shall remit the amount of such costs and
expenses and upon
its making such remittance, the Seller shall be deemed to have
cured such Breach
in all respects. To the extent any fees or expenses that are the
subject of a
cure by the Seller are subsequently obtained from the related
Mortgagor, the
portion of the cure payment equal to such fees or expenses obtained
from the
Mortgagor shall be returned to the Seller pursuant to Section
2.03(f) of the
Pooling and Servicing Agreement. Notwithstanding the foregoing, the
sole remedy
with respect to any breach of the representation set forth in the
second to last
sentence of clause (32) of Exhibit B hereto shall be payment by the
Seller of
such costs and expenses without respect to the materiality of such
breach.
Any of the following will cause a document in the Mortgage File
to
be deemed to have a Defect and to be conclusively presumed to
materially and
adversely affect the interests of Certificateholders in a Mortgage
Loan and to
be deemed to materially and adversely affect the interests of
the
Certificateholders in and the value of a Mortgage Loan: (a) the
absence from the
Mortgage File of the original signed Mortgage Note, unless the
Mortgage File
contains a signed lost note affidavit and indemnity with a copy of
the Mortgage
Note that appears to be regular on its face; (b) the absence from
the Mortgage
File of the original signed Mortgage that appears to be regular on
its face,
unless there is included in the Mortgage File a certified copy of
the Mortgage
and a certificate stating that the original signed Mortgage was
sent for
recordation; (c) the absence from the Mortgage File of the lender's
title
insurance policy (or if the policy has not yet been issued, an
original or copy
of a "marked up" written commitment or the pro-forma or specimen
title insurance
policy or a commitment to issue the same pursuant to written escrow
instructions
signed by the title insurance company) called for by clause (ix) of
the
definition of "Mortgage File" in the Pooling and Servicing
Agreement; (d) the
absence from the Mortgage File of any required letter of credit;
(e) with
respect to any leasehold mortgage loan, the absence from the
related Mortgage
File of a copy (or an original, if available) of the related Ground
Lease; or
(f) the absence from the Mortgage File of any intervening
assignments required
to create a complete chain of assignments to the Trustee on behalf
of the Trust,
unless there is included in the Mortgage File a certified copy of
the
intervening assignment and a certificate stating that the original
intervening
assignments were sent for recordation; provided, however, that no
Defect (except
the Defects previously described in clauses (a) through (f)) shall
be considered
to materially and adversely affect the value of any Mortgage Loan,
the value of
the related Mortgaged Property or the interests of the Trustee or
any
Certificateholder therein unless the document with respect to which
the Defect
exists is required in connection with an imminent enforcement of
the Mortgagee's
rights or remedies under the related Mortgage Loan, defending any
claim asserted
by any borrower or third party with respect to the Mortgage Loan,
establishing
the validity or priority of any lien on any collateral securing the
Mortgage
Loan or for any immediate significant servicing obligation.
Notwithstanding the
foregoing, the delivery of executed escrow instructions or a
commitment to issue
a lender's title insurance policy, as provided in clause (ix) of
the definition
of "Mortgage File" in the Pooling and Servicing Agreement, in lieu
of the
delivery of the actual policy of lender's title insurance, shall
not be
considered a Defect or Breach with respect to any Mortgage File if
such actual
policy is delivered to the Trustee or its Custodian within 18
months after the
Closing Date.
If (i) any Mortgage Loan is required to be repurchased or
substituted for in the manner described in the first paragraph of
this Section
6(e), (ii) such Mortgage Loan is a Crossed Loan, and (iii) the
applicable Defect
or Breach does not constitute a Defect or Breach, as the case may
be, as to any
other Crossed Loan in such Crossed Group (without regard to this
paragraph),
then the applicable Defect or Breach, as the case may be, will be
deemed to
constitute a Defect or Breach, as the case may be, as to each other
Crossed Loan
in the Crossed Group for purposes of this paragraph, and the Seller
will be
required to repurchase or substitute for all of the remaining
Crossed Loans in
the related Crossed Group as provided in the first paragraph of
this Section
6(e) unless such other Crossed Loans in such Crossed Group satisfy
the Crossed
Loan Repurchase Criteria, and the Mortgage Loan affected by the
applicable
Defect or Breach and the Qualified Substitute Mortgage Loan, if
any, satisfy all
other criteria for repurchase or substitution, as applicable, of
Mortgage Loans
set forth herein. In the event that the remaining Crossed Loans
satisfy the
aforementioned criteria, the Seller may elect either to repurchase
or substitute
for only the affected Crossed Loan as to which the related Breach
or Defect
exists or to repurchase or substitute for all of the Crossed Loans
in the
related Crossed Group. The Seller shall be responsible for the cost
of any
Appraisal required to be obtained by the applicable Master Servicer
to determine
if the Crossed Loan Repurchase Criteria have been satisfied, so
long as the
scope and cost of such Appraisal has been approved by the Seller
(such approval
not to be unreasonably withheld).
To the extent that the Seller is required to repurchase or
substitute for a Crossed Loan hereunder in the manner prescribed
above while the
Trustee continues to hold any other Crossed Loans in such Crossed
Group, neither
the Seller nor the Trustee shall enforce any remedies against the
other's
Primary Collateral, but each is permitted to exercise remedies
against the
Primary Collateral securing its respective Crossed Loans, including
with respect
to the Trustee, the Primary Collateral securing Crossed Loans still
held by the
Trustee.
If the exercise of remedies by one party would materially impair
the
ability of the other party to exercise its remedies with respect to
the Primary
Collateral securing the Crossed Loans held by such party, then the
Seller and
the Trustee shall forbear from exercising such remedies until the
Mortgage Loan
documents evidencing and securing the relevant Crossed Loans can be
modified in
a manner that removes the threat of material impairment as a result
of the
exercise of remedies or some other accommodation can be reached.
Any reserve or
other cash collateral or letters of credit securing the Crossed
Loans shall be
allocated between such Crossed Loans in accordance with the
Mortgage Loan
documents, or otherwise on a pro rata basis based upon their
outstanding Stated
Principal Balances. Notwithstanding the foregoing, if a Crossed
Loan that
remains in the Trust Fund is modified to terminate the related
cross
collateralization and/or cross default provisions, as a condition
to such
modification, the Seller shall furnish to the Trustee an Opinion of
Counsel that
any modification shall not cause an Adverse REMIC Event. Any
expenses incurred
by the Purchaser in connection with such modification or
accommodation
(including but not limited to recoverable attorney fees) shall be
paid by the
Seller.
The "Repurchase Price" with respect to any Mortgage Loan or REO
Loan
to be repurchased pursuant to this Agreement and Section 2.03 of
the Pooling and
Servicing Agreement, shall have the meaning given to the term
"Purchase Price"
in the Pooling and Servicing Agreement.
A "Qualified Substitute Mortgage Loan" with respect to any
Mortgage
Loan or REO Loan to be substituted pursuant to this Agreement and
Section 2.03
of the Pooling and Servicing Agreement, shall have the meaning
given to such
term in the Pooling and Servicing Agreement.
A "Substitution Shortfall Amount" with respect to any Mortgage
Loan
or REO Loan to be substituted pursuant to this Agreement and
Section 2.03 of the
Pooling and Servicing Agreement, shall have the meaning given to
such term in
the Pooling and Servicing Agreement.
In connection with any repurchase or substitution of one or
more
Mortgage Loans contemplated hereby, (i) the Purchaser shall execute
and deliver,
or cause the execution and delivery of, such endorsements and
assignments,
without recourse, as shall be necessary to vest in the Seller the
legal and
beneficial ownership of each repurchased Mortgage Loan or replaced
Mortgage
Loan, as applicable, (ii) the Purchaser shall deliver, or cause the
delivery, to
the Seller of all portions of the Mortgage File and other documents
(including
the Servicing File) pertaining to such Mortgage Loan possessed by
the Trustee,
or on the Trustee's behalf, and (iii) the Purchaser shall release,
or cause to
be released, to the Seller any escrow payments and reserve funds
held by the
Trustee, or on the Trustee's behalf, in respect of such repurchased
or replaced
Mortgage Loans.
(f) The representations and warranties of the parties hereto
shall
survive the execution and delivery and any termination of this
Agreement and
shall inure to the benefit of the respective parties,
notwithstanding any
restrictive or qualified endorsement on the Mortgage Notes or
assignment of
Mortgage or the examination of the Mortgage Files.
(g) Each party hereby agrees to promptly notify the other party
of
any Breach of a representation or warranty contained in this
Section 6. The
Seller's obligation to cure any Breach or Defect or repurchase or
substitute for
the affected Mortgage Loan pursuant to Section 6(e) herein shall
constitute the
sole remedy available to the Purchaser in connection with a Breach
or Defect
(subject to the last sentence of the second paragraph of Section
6(e)). It is
acknowledged and agreed that the representations and warranties are
being made
for risk allocation purposes only; provided, however, that no
limitation of
remedy is implied with respect to the Seller's breach of its
obligation to cure,
repurchase or substitute in accordance with the terms and
conditions of this
Agreement.
SECTION 7. Conditions to Closing. The obligations of the
Purchaser
to purchase the Mortgage Loans shall be subject to the
satisfaction, on or prior
to the Closing Date, of the following conditions:
(a) Each of the obligations of the Seller required to be
performed
by it at or prior to the Closing Date pursuant to the terms of this
Agreement
shall have been duly performed and complied with and all of the
representations
and warranties of the Seller under this Agreement shall be true and
correct in
all material respects as of the Closing Date, and no event shall
have occurred
as of the Closing Date which, with notice or passage of time, would
constitute a
default under this Agreement, and the Purchaser shall have received
a
certificate to the foregoing effect signed by an authorized officer
of the
Seller substantially in the form of Exhibit D.
(b) The Purchaser shall have received the following additional
closing documents:
(i) copies of the Seller's certificate of incorporation and
by-laws,
certified
as of a recent date by the Secretary or Assistant Secretary of
the
Seller;
(ii) an original or copy of a certificate of good standing of
the
Seller
issued by the Secretary of the State of Delaware dated not
earlier
than sixty
days prior to the Closing Date;
(iii) an opinion of counsel of the Seller, in form and
substance
satisfactory to the Purchaser and its counsel, substantially to the
effect
that:
(A) the Seller is a corporation, duly organized, validly
existing and in good standing under the laws of the State of
Delaware;
(B) the Seller has the power to conduct its business as now
conducted and to incur and perform its obligations under this
Agreement and the Indemnification Agreement;
(C) all necessary corporate or other action has been taken by
the Seller to authorize the execution, delivery and performance
of
this Agreement and the Indemnification Agreement by the Seller
and
this Agreement is a legal, valid and binding agreement of the
Seller
enforceable against the Seller, whether such enforcement is
sought
in a procedure at law or in equity, except to the extent such
enforcement may be limited by bankruptcy or other similar
creditors'
laws or principles of equity and public policy considerations
underlying the securities laws, to the extent that such public
policy considerations limit the enforceability of the provisions
of
the Agreement which purport to provide indemnification with
respect
to securities law violations;
(D) the Seller's execution and delivery of, and the Seller's
performance of its obligations under, each of this Agreement and
the
Indemnification Agreement do not and will not conflict with the
Seller's articles of association or by-laws or conflict with or
result in the breach of any of the terms or provisions of, or
constitute a default under, any indenture, mortgage, deed of
trust,
loan agreement or other material agreement or instrument to
which
the Seller is a party or by which the Seller is bound, or to
which
any of the property or assets of the Seller is subject or
violate
any provisions of law or conflict with or result in the breach
of
any order of any court or any governmental body binding on the
Seller;
(E) there is no litigation, arbitration or mediation pending
before any court, arbitrator, mediator or administrative body, or
to
such counsel's actual knowledge, threatened, against the Seller
which (i) questions, directly or indirectly, the validity or
enforceability of this Agreement or the Indemnification Agreement
or
(ii) would, if decided adversely to the Seller, either
individually
or in the aggregate, reasonably be expected to have a material
adverse effect on the ability of the Seller to perform its
obligations under this Agreement or the Indemnification
Agreement;
and
(F) no consent, approval, authorization, order, license,
registration or qualification of or with federal court or
governmental agency or body is required for the consummation by
the
Seller of the transactions contemplated by this Agreement and
the
Indemnification Agreement, except such consents, approvals,
authorizations, orders, licenses, registrations or qualifications
as
have been obtained; and
(iv) a letter from counsel of the Seller to the effect that
nothing
has come
to such counsel's attention that would lead such counsel to
believe
that the Prospectus Supplement as of the date thereof or as of
the
Closing
Date contains, with respect to the Seller or the Mortgage
Loans,
any untrue
statement of a material fact or omits to state a material fact
necessary
in order to make the statements therein relating to the Seller
or the
Mortgage Loans, in the light of the circumstances under which
they
were made,
not misleading.
(c) The Offered Certificates shall have been concurrently issued
and
sold pursuant to the terms of the Underwriting Agreement. The
Private
Certificates shall have been concurrently issued and sold pursuant
to the terms
of the Certificate Purchase Agreement.
(d) The Seller shall have executed and delivered concurrently
herewith the Indemnification Agreement.
(e) The Seller shall furnish the Purchaser with such other
certificates of its officers or others and such other documents and
opinions to
evidence fulfillment of the conditions set forth in this Agreement
as the
Purchaser and its counsel may reasonably request.
SECTION 8. Closing. The closing for the purchase and sale of
the
Mortgage Loans shall take place at the office of Cadwalader,
Wickersham & Taft
LLP, Charlotte, North Carolina, at 10:00 a.m., on the Closing Date
or such other
place and time as the parties shall agree. The parties hereto agree
that time is
of the essence with respect to this Agreement.
SECTION 9. Expenses. The Seller will pay its pro rata share
(the
Seller's pro rata share to be determined according to the
percentage that the
aggregate principal balance as of the Cut-off Date of all the
Mortgage Loans
represents in proportion to the aggregate principal balance as of
the Cut-off
Date of all the mortgage loans to be included in the Trust Fund) of
all costs
and expenses of the Purchaser in connection with the transactions
contemplated
herein, including (without duplication thereof), but not limited
to: (i) the
costs and expenses of the Purchaser in connection with the purchase
of the
Mortgage Loans and other mortgage loans; (ii) the costs and
expenses of
reproducing and delivering the Pooling and Servicing Agreement and
printing (or
otherwise reproducing) and delivering the Certificates; (iii) the
reasonable and
documented fees, costs and expenses of the Trustee and its counsel
incurred in
connection with the Trustee entering into the Pooling and Servicing
Agreement;
(iv) the fees and disbursements of a firm of certified public
accountants
selected by the Purchaser and the Seller with respect to numerical
information
in respect of the Mortgage Loans, other mortgage loans and the
Certificates
included in the Prospectus, the Memoranda (as defined in the
Indemnification
Agreement) and Term Sheet (as defined in the Indemnification
Agreement), or
items similar to the Term Sheet, including the cost of obtaining
any "comfort
letters" with respect to such items; (v) the costs and expenses in
connection
with the qualification or exemption of the Certificates under state
securities
or blue sky laws, including filing fees and reasonable fees and
disbursements of
counsel in connection therewith; (vi) the costs and expenses in
connection with
any determination of the eligibility of the Certificates for
investment by
institutional investors in any jurisdiction and the preparation of
any legal
investment survey, including reasonable fees and disbursements of
counsel in
connection therewith; (vii) the costs and expenses in connection
with printing
(or otherwise reproducing) and delivering the Registration
Statement, Prospectus
and Memoranda, and the reproduction and delivery of this Agreement
and the
furnishing to the Underwriters of such copies of the Registration
Statement,
Prospectus, Memoranda and this Agreement as the Underwriters may
reasonably
request; (viii) the fees of the rating agency or agencies requested
to rate the
Certificates and (ix) the reasonable fees and expenses of Thacher
Proffitt &
Wood LLP, counsel to the Underwriters, and Cadwalader, Wickersham
& Taft LLP,
counsel to the Depositor.
SECTION 10. Severability of Provisions. If any one or more of
the
covenants, agreements, provisions or terms of this Agreement shall
be for any
reason whatsoever held invalid, then such covenants, agreements,
provisions or
terms shall be deemed severable from the remaining covenants,
agreements,
provisions or terms of this Agreement and shall in no way affect
the validity or
enforceability of the other provisions of this Agreement.
Furthermore, the
parties shall in good faith endeavor to replace any provision held
to be invalid
or unenforceable with a valid and enforceable provision which most
closely
resembles, and which has the same economic effect as, the provision
held to be
invalid or unenforceable.
SECTION
11. Governing Law. This Agreement shall be construed in
accordance with the laws of the State of New York without regard to
conflicts of
law principles and the obligations, rights and remedies of the
parties hereunder
shall be determined in accordance with such laws.
SECTION 12. No Third Party Beneficiaries. The parties do not
intend
the benefits of this Agreement to inure to any third party except
as expressly
set forth in Section 13.
SECTION 13. Assignment. The Seller hereby acknowledges that the
Purchaser has, concurrently with the execution hereof, executed and
delivered
the Pooling and Servicing Agreement and that, in connection
therewith, it has
assigned its rights hereunder to the Trustee for the benefit of
the
Certificateholders to the extent set forth in the Pooling and
Servicing
Agreement and that the rights so assigned may be further assigned
to, and shall
inure to the benefit of, any successor trustee under the Pooling
and Servicing
Agreement. The Seller hereby acknowledges its obligations (subject
to the
provisions hereof), including that of expense reimbursement,
pursuant to
Sections 2.01, 2.02 and 2.03 of the Pooling and Servicing
Agreement. Except as
set forth hereinabove and in Sections 2.01, 2.02 and 2.03 of the
Pooling and
Servicing Agreement, the representations and warranties of the
Seller made
hereunder and the remedies provided hereunder with respect to
Breaches or
Defects may not be further assigned by the Purchaser, the Trustee
or any
successor trustee. No owner of a Certificate issued pursuant to the
Pooling and
Servicing Agreement shall be deemed a successor or permitted assign
because of
such ownership. This Agreement shall bind and inure to the benefit
of, and be
enforceable by, the Seller, the Purchaser and their permitted
successors and
permitted assigns. The warranties and representations and the
agreements made by
the Seller herein shall survive delivery of the Mortgage Loans to
the Trustee
until the termination of the Pooling and Servicing Agreement.
SECTION 14. Notices. All demands, notices and communications
hereunder shall be in writing and shall be deemed to have been duly
given upon
receipt by the intended recipient if personally delivered at or
couriered, sent
by facsimile transmission or mailed by first class or registered
mail, postage
prepaid, to (i) in the case of the Purchaser, J.P. Morgan Chase
Commercial
Mortgage Securities Corp., 270 Park Avenue, New York, New York
10017, Attention:
Dennis Schuh, fax number (212) 834-6593 with a copy to Bianca
Russo, fax number
(212) 834-6593, (ii) in the case of the Seller, Nomura Credit &
Capital, Inc., 2
World Financial Center, Building B, New York, New York 10281-1198,
Attention: N.
Dante LaRocca, fax number: (646) 587-9804 and (iii) in the case of
any of the
preceding parties, such other address or fax number as may
hereafter be
furnished to the other party in writing by such party.
SECTION 15. Amendment. This Agreement may be amended only by a
written instrument which specifically refers to this Agreement and
is executed
by the Purchaser and the Seller; provided, however, that unless
such amendment
is to cure an ambiguity, mistake or inconsistency in this
Agreement, no
amendment shall be permitted unless each Rating Agency has
delivered a written
confirmation that such amendment will not result in a downgrade,
withdrawal or
qualification of the then current ratings of the Certificates and
the cost of
obtaining any Rating Agency confirmation shall be borne by the
party requesting
such amendment. This Agreement shall not be deemed to be amended
orally or by
virtue of any continuing custom or practice. No amendment to the
Pooling and
Servicing Agreement which relates to defined terms contained
therein or any
obligations of the Seller whatsoever shall be effective against the
Seller
unless the Seller shall have agreed to such amendment in
writing.
SECTION 16. Counterparts. This Agreement may be executed in any
number of counterparts, and by the parties hereto in separate
counterparts, each
of which when executed and delivered shall be deemed to be an
original and all
of which taken together shall constitute one and the same
instrument.
SECTION 17. Exercise of Rights. No failure or delay on the part
of
any party to exercise any right, power or privilege under this
Agreement and no
course of dealing between the Seller and the Purchaser shall
operate as a waiver
thereof, nor shall any single or partial exercise of any right,
power or
privilege under this Agreement preclude any other or further
exercise thereof or
the exercise of any other right, power or privilege. Except as set
forth in
Section 6 herein, the rights and remedies herein expressly provided
are
cumulative and not exclusive of any rights or remedies which any
party would
otherwise have pursuant to law or equity. Except as set forth in
Section 6
herein, no notice to or demand on any party in any case shall
entitle such party
to any other or further notice or demand in similar or other
circumstances, or
constitute a waiver of the right of either party to any other or
further action
in any circumstances without notice or demand.
SECTION 18. No Partnership. Nothing herein contained shall be
deemed
or construed to create a partnership or joint venture between the
parties
hereto. Nothing herein contained shall be deemed or construed as
creating an
agency relationship between the Purchaser and the Seller and
neither party shall
take any action which could reasonably lead a third party to assume
that it has
the authority to bind the other party or make commitments on such
party's
behalf.
SECTION 19. Miscellaneous. This Agreement supersedes all prior
agreements and understandings relating to the subject matter
hereof. Neither
this Agreement nor any term hereof may be changed, waived,
discharged or
terminated orally, but only by an instrument in writing signed by
the party
against whom enforcement of the change, waiver, discharge or
termination is
sought.
* *
* * * *
<PAGE>
IN WITNESS WHEREOF, the Purchaser and the Seller have caused
their
names to be signed hereto by their respective officers thereunto
duly authorized
as of the day and year first above written.
J.P. MORGAN CHASE COMMERCIAL MORTGAGE
SECURITIES CORP., as Purchaser
By: /s/ Dennis Schuh
--------------------------------------
Name: Dennis Schuh
Title: Executive Director
NOMURA CREDIT & CAPITAL, INC., as
Seller
By: /s/ N. Dante LaRocca
--------------------------------------
Name: N. Dante LaRocca
Title:
Managing Director
<PAGE>
EXHIBIT A
MORTGAGE LOAN SCHEDULE
<TABLE>
<CAPTION>
Loan # Loan Seller
------ -----------
<S>
<C>
1
NCCI
24 NCCI
26 NCCI
30 NCCI
33 NCCI
34 NCCI
35 NCCI
36 NCCI
37 NCCI
38 NCCI
39 NCCI
40 NCCI
41 NCCI
42 NCCI
43 NCCI
50 NCCI
53 NCCI
53.01 NCCI
53.02 NCCI
53.03 NCCI
53.04 NCCI
53.05 NCCI
53.06 NCCI
53.07 NCCI
53.08 NCCI
63 NCCI
64 NCCI
67 NCCI
68 NCCI
69 NCCI
72 NCCI
79 NCCI
81 NCCI
83 NCCI
84 NCCI
89 NCCI
90 NCCI
91 NCCI
95 NCCI
96 NCCI
99 NCCI
101 NCCI
107 NCCI
108 NCCI
110 NCCI
111 NCCI
113 NCCI
125 NCCI
131 NCCI
132 NCCI
138 NCCI
140 NCCI
143 NCCI
147 NCCI
148 NCCI
152 NCCI
153 NCCI
154 NCCI
163 NCCI
167 NCCI
169 NCCI
179 NCCI
191 NCCI
195 NCCI
202 NCCI
209 NCCI
219 NCCI
221 NCCI
222 NCCI
<CAPTION>
Loan # Mortgagor
Name
------
--------------
<S>
<C>
1
Coconut Point Town Center, LLC
24
WALF, LLC
26
Davies Pacific, LLC
30
Jefferson at Pelican Point, L.P.
33
26030 E. Baseline Street, Inc.
34
North Pointe Apts., Inc.
35
Boardwalk Apts., Inc.
36
4355 S. Jones Blvd., Inc.
37
334 S. Westlake Avenue, Inc.
38
2016 Riverside Drive, Inc.
39
Mountainview Apts., Inc.
40
4575 Little Mountain Drive, Inc.
41
1129 E Central Avenue, Inc.
42
6851 Sepulveda Blvd., Inc.
43
The Victorian Apartments, Inc.
50
Rubicon Investments II, LLC
53
Trophy Properties IV B8A, LLC
53.01 1155 Jones
Street
53.02 940-942
Hayes Street
53.03 755-757
Green Street
53.04 815
O'Farrell Street
53.05 1085 South
Van Ness Avenue
53.06 720 Jones
Street
53.07 626 Powell
Street
53.08 1705
Octavia Street
63
MG Pinnacle Heights Apartments LLC
64
Addison Associates, LLC
67
Ruffin/Azar Huntsville Hotel, LLC
68
Daves New National, LLC and New National, LLC
69
Shea and Tatum Associates Limited Partnership
72
Worthington Meadows Columbus Associates, L.L.C.
79
Hampton Apts., Inc.
81
Kapolei Marketplace, LLC and Kapolei-57, LLC
83
The Pointe at Raiders Campus 22 LLC, The Pointe at Raiders Campus
21 LLC, The Pointe at Raiders Campus 24 LLC, The
Pointe at Raiders Campus 13 LLC, The Pointe at Raiders Campus 15
LLC, The Pointe at Raiders Campus 16 LLC, The Pointe
at Raiders Campus 17 LLC, The Pointe at Raiders Campus 18 LLC, The
Pointe at Raiders Campus 19 LLC
84
Doheny V LLC, Brahms Sierra LLC
89
PCCP CS LANDCO Tanque Verde, LLC
90
Inland Riverwoods, L.L.C.
91
W Hemet Holdings LLC
95
A-S Northwest Crossing Acquisition LLC
96
455 Associates L.L.C.
99
Ashton Oaks Limited Partnership
101 MG
Colonia Del Rio Apartments LLC
107
Hickory Ridge Lake Apartments LLC
108
Sagebrush Stonegate Apartments, LLC, Chavis Stonegate Apartments,
LLC, R. Costanzo Stonegate Apartments, LLC, C.
Costanzo Apartments, LLC, Davis Stonegate Apartments, LLC, Defeyter
Stonegate Apartments, LLC, Flaherty Stonegate
Apartments, LLC, Frisbie Stonegate Apartments, LLC, Kaus Stonegate
Apartments, LLC, LIU Stonegate Apartments, LLC,
McLennan Stonegate Apartments, LLC, Ratzlaf Stonegate Apartments,
LLC, Shimoda Stonegate Apartments, LLC, McDaniel
Stonegate Apartments, LLC, Goebel Stonegate Apartments, LLC, Mullen
Stonegate Apartments, LLC, Ebbole Stonegate
Apartments, LLC, Encanto Stonegate Apartments, LLC, Geerdes
Stonegate Apartments, LLC
110 MG
Hacienda Del Rio Apartments LLC
111
GWR-B Tempe, LLC
113 One
South King, LLC and South King LH, LLC
125 MB
Rockford State, L.L.C.
131
DIWA, L.L.C.
132
ISIP, L.L.C.
138 CP
Vineyard Center ONT LLC
140
Sierra Mobile Estates, LLC and De Baun-Sierra, LLC
143
Santiago Mobilehome Estates, LLC
147
Perry Grove Park Apartments, Ltd.
148
Parkside Village LLC
152 TLG
Springcreek Apartments, LLC, TLG Springcreek Apartments 2, LLC, TLG
Springcreek Apartments 3, LLC, TLG Springcreek
Apartments 4, LLC, TLG Springcreek Apartments 5, LLC, TLG
Springcreek Apartments 6, LLC, TLG Springcreek Apartments 7,
LLC, TLG Springcreek Apartments 8, LLC, TLG Springcreek Apartments
9, LLC, TLG Springcreek Apartments 10, LLC, TLG
Springcreek Apartments 11, LLC
153 CP
Simi Shops SV LLC
154 Wine
Valley Inn, LLC
163 Olde
Towne Village LLC
167
Netcom Hospitality LLC
169
Prado 825 Pine, LLC
179 8633
California LLC
191
Cedar Ridge Apartments LLC
195
Evergreen Court LLC
202
Paradise Park Co-op, Inc.
209 1001
Jefferson, LLC
219
Skylark MHP, L.P., Rancho San Manuel Limited Partnership
221 HFLP
III/ Corona, LLC
222 Shri
Krishna, Inc.
<CAPTION>
Loan # Property Address
City
State Zip
Code
County
------ ----------------
----
-----
--------
------
<S>
<C>
<C>
<C>
<C>
<C>
1
NEQ
US 41 and Coconut Road
Estero
FL
33928
Lee
24
23600 - 23760 El Toro Road
Lake Forest
CA
92630
Orange
26 841
Bishop Street
Honolulu
HI
96813
Honolulu
30 760
South Hill Road
Ventura
CA
93003
Ventura
33
26030 East Baseline Street
San Bernardino
CA
92410
San Bernardino
34 5829
Montgomery Street
Riverside
CA
92503
Riverside
35 7270
8th Street
Buena Park
CA
90621
Orange
36 4355
South Jones Boulevard
Las Vegas
NV
89103
Clark
37 334
South Westlake Avenue
Los Angeles
CA
90057
Los Angeles
38 2016
Riverside Drive
Los Angeles
CA
90039
Los Angeles
39 1100
East Whittier Avenue
Hemet
CA
92543
Riverside
40 4575
Little Mountain Drive
San Bernardino
CA
92407
San Bernardino
41 1129
East Central Avenue
Redlands
CA
92374
San Bernardino
42 6851
Sepulveda Boulevard
Van Nuys
CA
91405
Los Angeles
43 3435
Webb Chapel Extension
Dallas
TX
75220
Dallas
50 6800
West 115th Street
Overland Park
KS
66211
Johnson
53
Various
San Francisco
CA
Various
San Francisco
53.01 San Francisco
CA
94109 San
Francisco 1155 Jones
53.02 San Francisco
CA
94117 San
Francisco 940
Hayes
53.03 San Francisco
CA
94133 San
Francisco 755
Green
53.04 San Francisco
CA
94109 San
Francisco 815
O'Farrell
53.05 San Francisco
CA
94110 San
Francisco 1085
South Van Ness
53.06 San Francisco
CA
94109 San
Francisco 720
Jones
53.07 San Francisco
CA
94108 San
Francisco 626
Powell
53.08 San Francisco
CA
94109 San
Francisco 1705
Octavia
63 7990
East Snyder Road
Tucson
AZ
85750
Pima
64
11401 Old Nuckols Road
Glen Allen
VA
23059
Henrico
67 5
Tranquility Base
Huntsville
AL
35805
Madison
68 1677
Collins Avenue
Miami Beach
FL
33139
Miami-Dade
69
Northeast corner of East Shea Boulevard
and North Tatum Boulevard
Phoenix
AZ
85028
Maricopa
72 699
Wellingshire Boulevard
Worthington
OH
43085
Franklin
79 3070
South Nellis Boulevard
Las Vegas
NV
89121
Clark
81 590
Farrington Highway
Kapolei
HI
96707
Honolulu
83 2315
Tennessee Boulevard
Murfreesboro
TN
37130
Rutherford
84 452
Old Mammoth Road
Mammoth Lakes
CA
93546
Mono
89 7671
East Tanque Verde Road
Tuscon
AZ
85715
Pima
90 N17
W24300 Riverwood Drive
Pewaukee
WI
53188
Waukesha
91
2701-2897 West Florida Avenue
Hemet
CA
92545
Riverside
95
13333 Northwest Freeway
Houston
TX
77040
Harris
96 455
West Fort Street
Detroit
MI
48226
Wayne
99 2030
Northcliffe Drive
Winston-Salem NC
27106
Forsyth
101 4601 North
Via Entrada
Tucson
AZ
85718
Pima
107 1718 West
55th Avenue
Merrillville
IN
46410
Lake
108 700 Rock
Quarry Road
Stockbridge
GA
30281
Henry
110 4545 North
Via Entrada
Tucson
AZ
85718
Pima
111 4415 South
Wendler Drive
Tempe
AZ
85282
Maricopa
113 33 South
King Street
Honolulu
HI
96813
Honolulu
125 6260-6380
East State Street
Rockford
IL
61108
Winnebago
131 2555 Twin
Oaks Court
Decatur
IL
62526
Macon
132 3155 Beth
Boulevard
Decatur
IL
62526
Macon
138 1610-1680
East 4th Street
Ontario
CA
91764
San Bernardino
140 17333
& 17225 Valley Boulevard
Fontana
CA
92335
San Bernardino
143 4650 East
Carey Avenue
Las Vegas
NV
89115
Clark
147 8915
Rosedale Highway
Bakersfield
CA
93312
Kern
148 101
Brookside Drive and 1-63 Candlelight Lane Dover
OH
44622
Tuscarawas
152 6407
Springdale Road
Austin
TX
78723
Travis
153 1931-2941
Cochran Street
Simi Valley
CA
93065
Ventura
154 1564
Copenhagen Drive
Solvang
CA
93463
Santa Barbara
163 790 Irving
Drive
Clarksville
IN
47129
Clark
167 3710
Hillsborough Road
Durham
NC
27705
Durham
169 825 - 835
Pine Street
San Francisco
CA
94108
San Francisco
179 8633
California Avenue
South Gate
CA
90280
Los Angeles
191 2313
Grantline Road
New Albany
IN
47150
Floyd
195 813
Eastern Boulevard
Clarksville
IN
47129
Clark
202 7111 142nd
Avenue North
Largo
FL
33771
Pinellas
209 1001
Jefferson Avenue
Washington
PA
15301
Washington
219 9113
Rosecrans Avenue
Bellflower
CA
90706
Los Angeles
221 110
Washburn Circle
Corona
CA
92882
Riverside
222 2316
Hanover Drive
Monroe
NC
28110
Union
<CAPTION>
Loan # Property
Name
Size
Measure
Interest Rate (%) Net Mortgage
Interest Rate
------
-------------
----
-------
-----------------
--------------------------
<S>
<C>
<C>
<C>
<C>
<C>
1
Coconut Point
834859 Square Feet
5.83000
5.80961
24
The Orchard at Saddleback
278461 Square Feet
6.53200
6.51161
26
Davies Pacific Center
355802 Square Feet
5.86000
5.83961
30
Pelican Point
411
Units
6.58000
6.55961
33
Sierra Springs
220
Units
5.59000
5.56961
34
North Pointe - Riverside
140
Units
5.59000
5.56961
35
Boardwalk / Park Place
100
Units
5.59000
5.56961
36
Crosswinds
64
Units
5.64000
5.61961
37
West View (West Lake)
57
Units
5.59000
5.56961
38
2016 Riverside Office
30748 Square Feet
5.59000
5.56961
39
Mountain View Townhouse
56
Units
5.59000
5.56961
40
Mountain Gate
44
Units
5.59000
5.56961
41
Central Park
40
Units
5.64000
5.61961
42
Sherman Pointe
36
Units
5.59000
5.56961
43
The Victorian
127
Units
5.59000
5.56961
50
Overland Park Trade Center
651648 Square Feet
5.90000
5.87961
53
Lembi Multifamily Portfolio
291
Units
5.99000
5.96961
53.01 60
Units
00006
5.99000
16738596.49123
53.02 40
Units
00006
5.99000
5854385.96491
53.03 30
Units
00006
5.99000
4836052.63158
53.04 42
Units
00006
5.99000
4836052.63158
53.05 30
Units
00006
5.99000
4695877.19298
53.06 43
Units
00006
5.99000
4349561.40351
53.07 34
Units
00006
5.99000
4122807.01754
53.08 12
Units
00006
5.99000
1566666.66667
63
Pinnacle Heights
310
Units
5.94000
5.86961
64
Addison at Wyndham
312
Units
5.75000
5.72961
67
Marriott Hotel Huntsville AL
290
Rooms
5.86000
5.83961
68
National Hotel
151
Rooms
6.03000
6.00961
69
Paradise Village Gateway
294820 Square Feet
5.38500
5.36461
72
Worthington Meadows
528
Units
5.86000
5.83961
79
The Hamptons
492
Units
5.59000
5.56961
81
The Marketplace at Kapolei
64106 Square Feet
6.00000
5.96461
83
College Suites-Murfreesboro TN
216
Units
5.79000
5.76961
84
Sierra Center Mammoth Lakes
75529 Square Feet
6.25000
6.22961
89
Tanque Verde Apartments
428
Units
6.86700
6.84661
90
AT&T Pewaukee
176960 Square Feet
5.94000
5.91961
91
Hemet Village
87986 Square Feet
5.53000
5.50961
95
Northwest Crossing
112023 Square Feet
6.09000
6.01961
96
455 West Fort Street
120000 Square Feet
6.18000
6.11961
99
Ashton Oaks Apartments
288
Units
6.10000
6.07961
101
Colonia Del Rio
176
Units
5.94000
5.86961
107
Hickory Ridge
395
Units
6.24000
6.21961
108
Stonegate at Eagle's Landing
167
Units
5.67000
5.64961
110
Hacienda Del Rio
248
Units
5.94000
5.86961
111
Corporate Fountains
110769 Square Feet
6.16300
6.14261
113 One
South King
82829 Square Feet
5.64000
5.61961
125
State Street Market
193657 Square Feet
5.62300
5.60261
131 Twin
Oaks Apartments
202
Units
5.71000
5.68961
132 Beth
Boulevard Apartments
122
Units
5.71000
5.68961
138
Vineyard Freeway Center
49008 Square Feet
5.69000
5.66961
140
Sierra Mobile Estates
214
Pads
5.92000
5.89961
143 Santiago MHP
185
Pads
6.49000
6.46961
147
Ashley Furniture Retail Center - Bakersfield 40347 Square Feet
5.86000
5.83961
148
Heritage Village & Parkside Apartments
150
Units
5.84000
5.81961
152
Spring Creek Apartments (Austin)
204
Units
5.66000
5.63961
153
Target Center Shops
22812 Square Feet
6.05000
6.02961
154 Wine
Valley Inn
63
Rooms
6.38000
6.35961
163 Olde
Towne
156
Units
5.84000
5.81961
167
Quality Inn & Suites - Durham
115
Rooms
6.16000
6.13961
169
Pierre Suites
32
Units
6.18000
6.09961
179
California Senior Plaza
69
Units
6.22000
6.15961
191
Cedar Ridge
112
Units
5.84000
5.81961
195
Evergreen
125
Units
5.84000
5.81961
202
Paradise Park ROC
108
Pads
6.08000
6.05961
209 Rite
Aid - Washington, PA
11060 Square Feet
5.77000
5.74961
219
Skylark MHP
46
Pads
6.12000
6.09961
221
Corona Auto Center
19500 Square Feet
5.87000
5.82961
222 Best
Western- Monroe
64
Rooms
6.39000
6.29961
<CAPTION>
Loan #
Original Balance
Cutoff Balance Term Rem. Term
Maturity/ARD
Date
Amort. Term
------
----------------
-------------- ---- ---------
-----------------
-----------
<S>
<C>
<C>
<C>
<C>
<C>
<C>
1
230,000,000
230,000,000 120
117
12/10/16
0
24
100,000,000
100,000,000 120
118
01/11/17
0
26
95,000,000
95,000,000
120
116
11/11/16
0
30
72,000,000
72,000,000 60
59
02/11/12
0
33
13,270,900
13,200,958
120
115
10/11/16
360
34
12,361,900
12,296,749
120
115
10/11/16
360
35
8,441,400
8,396,911
120
115
10/11/16
360
36
4,428,000
4,404,894
120
115
10/11/16
360
37
3,960,900
3,940,025
120
115
10/11/16
360
38
3,900,400
3,879,844
120
115
10/11/16
360
39
3,258,700
3,241,526
120
115
10/11/16
360
40
3,181,000
3,164,235
120
115
10/11/16
360
41
2,839,000
2,824,185
120
115
10/11/16
360
42
2,715,900
2,701,586
120
115
10/11/16
360
43
2,200,000
2,188,405
120
115
10/11/16
360
50
55,000,000
55,000,000 60
59
02/11/12
0
53
47,000,000
47,000,000 60
55
10/11/11
0
53.01
16,738,596
60
55
40827
01/00/00
0
53.02
5,854,386
60
55
40827
01/00/00
0
53.03
4,836,053
60
55
40827
01/00/00
0
53.04
4,836,053
60
55
40827
01/00/00
0
53.05
4,695,877
60
55
40827
01/00/00
0
53.06
4,349,561
60
55
40827
01/00/00
0
53.07
4,122,807
60
55
40827
01/00/00
0
53.08
1,566,667
60
55
40827
01/00/00
0
63
32,937,000
32,937,000
120
120
03/11/17
0
64
30,850,000
30,850,000
120
120
03/11/17
0
67
30,000,000
30,000,000
120
120
03/11/17
360
68
30,000,000
30,000,000 60
59
02/11/12
360
69
30,000,000
30,000,000 60
60
03/11/12
0
72
27,000,000
27,000,000
120
118
01/11/17
0
79
23,565,900
23,441,700
120
115
10/11/16
360
81
22,560,000
22,560,000
120
120
03/11/17
0
83
21,120,000
21,120,000
120
119
02/11/17
360
84
19,500,000
19,500,000 60
59
02/01/12
0
89
17,300,000
17,300,000 60
52
07/11/11
0
90
17,212,195
17,212,195
120
119
02/11/17
0
91
17,000,000
17,000,000
120
117
12/11/16
420
95
15,400,000
15,400,000
120
119
02/11/17
360
96
15,000,000
15,000,000
120
119
02/11/17
240
99
14,250,000
14,250,000
120
118
01/01/17
360
101
14,102,000
14,102,000
120
120
03/11/17
0
107
13,220,000
13,220,000
120
119
02/11/17
360
108
13,000,000
13,000,000
120
119
02/11/17
360
110
12,560,000
12,560,000
120
120
03/11/17
0
111
12,500,000
12,500,000 72
69
12/11/12
0
113
12,185,000
12,185,000
120
119
02/11/17
0
125
10,450,000
10,450,000 60
60
03/11/12
0
131
7,500,000
7,500,000
120
120
03/11/17
360
132
2,200,000
2,200,000
120
120
03/11/17
360
138
8,400,000
8,400,000 60
58
01/11/12
0
140
8,200,000
8,200,000 60
58
01/11/12
0
143
7,800,000
7,800,000 60
53
08/11/11
360
147
7,200,000
7,177,827
120
117
12/11/16
360
148
7,120,000
7,120,000
120
119
02/11/17
360
152
6,940,000
6,940,000 84
82
01/11/14
360
153
6,800,000
6,800,000 60
58
01/11/12
0
154
6,750,000
6,750,000 60
60
03/11/12
360
163
6,190,000
6,190,000
120
119
02/11/17
360
167
6,000,000
5,982,044
120
118
01/01/17
300
169
5,939,100
5,939,100
120
119
02/06/17
0
179
5,100,000
5,093,371
120
119
02/11/17
360
191
4,225,000
4,225,000
120
119
02/11/17
360
195
3,920,000
3,920,000
120
119
02/11/17
360
202
3,650,000
3,650,000
120
117
12/11/16
360
209
3,100,000
3,100,000
120
120
03/11/17
360
219
2,540,000
2,540,000 60
58
01/11/12
0
221
2,175,000
2,175,000
120
117
12/11/16
360
222
2,150,000
2,150,000
120
120
03/01/17
300
<CAPTION>
Loan # Rem.
Amort.
Monthly Debt Service Servicing Fee Rate
Accrual Type
ARD (Y/N)
------
-----------
-------------------- ------------------
------------
---------
<S>
<C>
<C>
<C>
<C>
<C>
1
0
1,132,936
0.02000
Actual/360
No
24
0
551,894
0.02000
Actual/360
No
26
0
470,360
0.02000
Actual/360
No
30
0
400,283
0.02000
Actual/360
No
33
355
76,102
0.02000
Actual/360
No
34
355
70,889
0.02000
Actual/360
No
35
355
48,407
0.02000
Actual/360
No
36
355
25,532
0.02000
Actual/360
No
37
355
22,714
0.02000
Actual/360
No
38
355
22,367
0.02000
Actual/360
No
39
355
18,687
0.02000
Actual/360
No
40
355
18,241
0.02000
Actual/360
No
41
355
16,370
0.02000
Actual/360
No
42
355
15,574
0.02000
Actual/360
No
43
355
12,616
0.02000
Actual/360
No
50
0
274,172
0.02000
Actual/360
No
53
0
237,867
0.02000
Actual/360
No
53.01
-
No
53.02
-
No
53.03
-
No
53.04
-
No
53.05
-
No
53.06
-
No
53.07
-
No
53.08
-
No
63
0
165,303
0.07000
Actual/360
No
64
0
149,876
0.02000
Actual/360
No
67
360
177,174
0.02000
Actual/360
No
68
360
180,444
0.02000
Actual/360
No
69
0
136,495
0.02000
Actual/360
No
72
0
133,681
0.02000
Actual/360
No
79
355
135,138
0.02000
Actual/360
No
81
0
114,367
0.03500
Actual/360
No
83
360
123,788
0.02000
Actual/360
No
84
0
102,973
0.02000
Actual/360
No
89
0
100,374
0.02000
Actual/360
No
90
0
85,200
0.02000
30/360
Yes
91
420
91,627
0.02000
Actual/360
No
95
360
93,224
0.07000
Actual/360
No
96
240
109,028
0.06000
Actual/360
Yes
99
360
86,354
0.02000
Actual/360
No
101
0
70,774
0.07000
Actual/360
No
107
360
81,312
0.02000
Actual/360
No
108
360
75,205
0.02000
Actual/360
No
110
0
63,036
0.07000
Actual/360
No
111
0
65,090
0.02000
Actual/360
No
113
0
58,065
0.02000
Actual/360
No
125
0
48,967
0.02000
30/360
No
131
360
43,578
0.02000
Actual/360
No
132
360
12,783
0.02000
Actual/360
No
138
0
40,383
0.02000
Actual/360
No
140
0
41,015
0.02000
Actual/360
No
143
360
49,250
0.02000
Actual/360
No
147
357
42,522
0.02000
Actual/360
Yes
148
360
41,958
0.02000
Actual/360
No
152
360
40,104
0.02000
Actual/360
No
153
0
34,759
0.02000
Actual/360
No
154
360
42,133
0.02000
Actual/360
No
163
360
36,478
0.02000
Actual/360
No
167
298
39,247
0.02000
Actual/360
No
169
0
31,011
0.08000
Actual/360
No
179
359
31,302
0.06000
Actual/360
No
191
360
24,898
0.02000
Actual/360
No
195
360
23,101
0.02000
Actual/360
No
202
360
22,072
0.02000
Actual/360
No
209
360
18,130
0.02000
Actual/360
Yes
219
0
13,134
0.02000
Actual/360
No
221
360
12,859
0.04000
Actual/360
No
222
300
14,370
0.09000
Actual/360
No
<CAPTION>
Loan # ARD Step Up (%)
Title Type
Crossed Loan Originator/Loan
Seller
------ ---------------
----------
------------
----------------------
<S>
<C>
<C>
<C>
<C>
1
Fee/Leasehold
NCCI
24
Fee
NCCI
26
Fee
NCCI
30
Fee
NCCI
33
Fee
B
NCCI
34
Fee
B
NCCI
35
Fee
B
NCCI
36
Fee
B
NCCI
37
Fee
B
NCCI
38
Fee
B
NCCI
39
Fee
B
NCCI
40
Fee
B
NCCI
41
Fee
B
NCCI
42
Fee
B
NCCI
43
Fee
B
NCCI
50
Fee
NCCI
53
Fee
NCCI
53.01 Fee
NCCI
53.02 Fee
NCCI
53.03 Fee
NCCI
53.04 Fee
NCCI
53.05 Fee
NCCI
53.06 Fee
NCCI
53.07 Fee
NCCI
53.08 Fee
NCCI
63
Fee
NCCI
64
Fee
NCCI
67
Leasehold
NCCI
68
Fee
NCCI
69
Fee
NCCI
72
Fee
NCCI
79
Fee
NCCI
81
Leasehold
NCCI
83
Fee
NCCI
84
Fee
NCCI
89
Fee
NCCI
90 Lesser of
(a) the maximum rate permitted by the law, or (b) 7.94%
Fee
NCCI
91
Fee
NCCI
95
Fee
NCCI
96 Greater of
(i) IR +2% or (ii) TR +5%
Fee
NCCI
99
Fee
NCCI
101
Fee
NCCI
107
Fee
NCCI
108
Fee
NCCI
110
Fee
NCCI
111
Fee
NCCI
113
Fee/Leasehold
NCCI
125
Fee
NCCI
131
Fee
E
NCCI
132
Fee
E
NCCI
138
Fee
NCCI
140
Fee
NCCI
143
Fee
NCCI
147 Greater of IR
+2% or TR+1.25%+2%
Fee
NCCI
148
Fee
NCCI
152
Fee
NCCI
153
Fee
NCCI
154
Fee
NCCI
163
Fee
NCCI
167
Fee
NCCI
169
Fee
NCCI
179
Fee
NCCI
191
Fee
NCCI
195
Fee
NCCI
202
Fee
NCCI
209 Greater of IR
+2% or TR+1.17%+2%
Fee
NCCI
219
Fee
NCCI
221
Fee
NCCI
222
Fee
NCCI
<CAPTION>
Loan # Guarantor
------ ---------
<S>
<C>
1
Coconut Point Town Center, LLC
24
WALF, LLC
26
James C. Reynolds
30 JPI
Multifamily Investments, L.P.
33 J.K.
Properties, Inc.
34 J.K.
Properties, Inc.
35 J.K.
Properties, Inc.
36 J.K.
Properties, Inc.
37 J.K.
Properties, Inc.
38 J.K.
Properties, Inc.
39
Woodman Realty, Inc.
40 J.K.
Properties, Inc.
41 J.K.
Properties, Inc.
42 J.K.
Properties, Inc.
43 J.K.
Properties, Inc.
50
Sharon Altenbach, Arthur G. Weiss
53
Frank E. Lembi, Walter Lembi
53.01
53.02
53.03
53.04
53.05
53.06
53.07
53.08
63 Mark
Gleiberman , Hanna Nora Gleiberman
64
Marcus M. Weinstein
67
George A. Azar, Phillip G. Ruffin
68
Claude Dray
69 Shea
and Tatum Associates Limited Partnership
72
Brent D. Crawford, Robert C. Hoying
79 J.K.
Properties, Inc.
81 Sam
Rahim Siam, Behzad Bandari
83 Joel
O'Hayon-Crosby, Coni Jo Papin, Richard Rose, Sharon Rose, Carlos
A.G. Vignon, David S. Wier, Greta J. Wier, Roger
O. Danley, Nancy B. Danley, William Augenstein, Christopher Beck,
Howard Johnson, Solange Johnson, Blaine Charles
Juchau, Barbara Fox Juchau
84
Jerry L. Preston, Viviane Brahms
89 Mark
Lester, David Rosenbaum
90
Inland Real Estate Exchange Corporation
91 W
Hemet Holdings LLC
95
Jason R. Larson, Touchmark Living Centers, Inc.
96 Gary
Torgow
99
Fabrizio Lucchese, William Myers
101 Mark
Gleiberman, Hanna Nora Gleiberman
107 Brad
Galinson, Jeff Lubow
108 Robert P.
Jacobsen
110 Mark
Gleiberman, Hanna Nora Gleiberman
111 Erik S.
Good, Timothy B. Good, Bruce L. Way, Nathan L. Way
113 James C.
Reynolds
125 MB
Rockford State, L.L.C., Minto Builders (Florida), Inc.
131 Carlos P.
Capati
132 Carlos P.
Capati
138 William R.
Rothacker
140 Peter
DeBaun, Gordon Meyer
143 Kim W.
Eggleston
147 Alvin R.
Perry
148 Brad
Galinson, Jeff Lubow
152 David
Lindahl, Lawrence Fine, Brandon Mattes, Richard Cohn, Anna
Stanislowski, David Friedman, Joan Deddo, Terry Austin,
Sonny Byun
153 William R.
Rothacker
154 Larry
Broughton
163 Brad
Galinson, Jeff Lubow
167 Anuj
Mittal, Pradeep Sharma
169 Irvin
Taylor, Craig Greenwood
179 Percival
Vaz
191 Brad
Galinson, Jeff Lubow
195 Brad
Galinson, Jeff Lubow
202 Paradise
Park Co-op, Inc.
209 John F.
Tsern
219 Kim W.
Eggleston
221 Jeffrey F.
Hermanson
222 Prakash B.
Desai
<CAPTION>
Loan #
Letter of Credit Upfront CapEx Reserve
Upfront
Eng. Reserve
------
---------------- ---------------------
--------------------
<S>
<C>
<C>
<C>
1
No
0.00
0.00
24
No
0.00
0.00
26
No
0.00
0.00
30
No
0.00
28,400.00
33
No
0.00
6,875.00
34
No
0.00
25,954.00
35
No
0.00
250.00
36
No
0.00
0.00
37
No
0.00
9,175.00
38
No
0.00
0.00
39
No
0.00
12,700.00
40
No
0.00
7,950.00
41
No
0.00
0.00
42
No
0.00
3,125.00
43
No
0.00
0.00
50
No
0.00
0.00
53
No
200,000.00
91,188.00
53.01
53.02
53.03
53.04
53.05
53.06
53.07
53.08
63
No
0.00
9,000.00
64
No
0.00
0.00
67
No
0.00
0.00
68
No
0.00
6,250.00
69
No
0.00
0.00
72
No
0.00
168,000.00
79
No
0.00
0.00
81
No
0.00
0.00
83
No
500,000.00
0.00
84
No
250,000.00
0.00
89
No
0.00
7,125.00
90
No
0.00
0.00
91
No
0.00
0.00
95
No
0.00
0.00
96
No
0.00
0.00
99
No
0.00
0.00
