Exhibit 33.2



Management's
Assertion



Report on Assessment
of Compliance with Applicable Servicing Criteria



U.S. Bank National Association (“U.S.
Bank”) is responsible for assessing compliance as of and for the year ended March 31, 2017 with the servicing criteria set
forth in Item 1122 (d) of Regulation AB applicable to it as set forth on Exhibit A hereto. This report covers asset backed securities
transactions within the U.S. Bank Corporate Trust Asset-Backed Securities Platform1 (the “Platform”).



U.S. Bank hereby provides the following
report on its assessment of compliance with the servicing criteria set forth in Item 1122 of Regulation AB applicable to it and
as described on Exhibit A hereto:



| | 1. | U.S. Bank is responsible for
                                         assessing its compliance with the servicing criteria applicable to it as noted on the
                                         accompanying Exhibit A;
| | -- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 2. | Except as set forth in paragraph
                                         3 below, U.S. Bank used the criteria set forth in paragraph (d) of Item 1122 of Regulation
                                         AB to assess its compliance with the applicable servicing criteria;
| | -- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 3. | The criteria listed in the column
                                         titled “Inapplicable Servicing Criteria” on Exhibit A hereto are inapplicable
                                         to U.S. Bank based on the activities it performs directly with respect to the Platform;
| | -- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 4. | U.S. Bank has complied, in all
                                         material respects, with the applicable servicing criteria as of and for the year ended
                                         March 31, 2017; and
| | -- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 5. | Ernst & Young, LLP, a registered
                                         public accounting firm, has issued an attestation report on U.S. Bank’s assessment
                                         of compliance with the applicable servicing criteria as of and for the year ended March
                                         31, 2017.
| | -- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | U.S. BANK NATIONAL ASSOCIATION 
| | -------------------------------
| |                                
| | /s/ Bryan
    R. Calder        
| | Name:  Bryan R. Calder         
| | Title: Executive Vice President



Date: May 25, 2017










1 The U.S. Bank Corporate Trust Asset-Backed Securities
Platform (the "Platform") consists of the activities involved in the performance of servicing functions for which the
Company provides trustee, securities administration, registrar and paying agent services for (i) publicly issued asset-backed and
mortgage-backed securities transactions the securities of which were offered on or after January 1, 2006 and (ii) certain asset-backed
transactions for which the Issuer has voluntarily elected to make Regulation AB compliant filings under the Securities Exchange
Act of 1934, as amended.











EXHIBIT A
to Management’s Assertion



|Reference                                  | Servicing Criteria                                                                                                                                                                                                                                                                                                                                                                                      | ApplicableServicingCriteria | InapplicableServicingCriteria
|------------------------------------------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------------------------- | -----------------------------
|General
        Servicing Considerations  
|1122(d)(1)(i)                              | Policies
        and procedures are instituted to monitor any performance or other triggers and events of default in accordance with the
        transaction agreements.                                                                                                                                                                                                                                |                             | X                            
|1122(d)(1)(ii)                             | If any material servicing
        activities are outsourced to third parties, policies and procedures are instituted to monitor the third party’s
        performance and compliance with such servicing activities.                                                                                                                                                                                    |                             | X                            
|1122(d)(1)(iii)                            | Any requirements in the transaction
        agreements to maintain a back-up servicer for the Pool Assets are maintained.                                                                                                                                                                                                                                                                               |                             | X                            
|1122(d)(1)(iv)                             | A fidelity bond and errors
        and omissions policy is in effect on the party participating in the servicing function throughout the reporting period
        in the amount of coverage required by and otherwise in accordance with the terms of the transaction agreements.                                                                                                                       |                             | X                            
|1122(d)(1)(v)                              | Aggregation of information,
as applicable, is mathematically accurate and the information conveyed accurately reflects the information.                                                                                                                                                                                                                                                                 |                             | X                            
|Cash
        Collection and Administration
|1122(d)(2)(i)                              | Payments on pool assets are
        deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than two business days
        following receipt, or such other number of days specified in the transaction agreements.                                                                                                                                           |                             | X                            
|1122(d)(2)(ii)                             | Disbursements made via wire
        transfer on behalf of an obligor or to an investor are made only by authorized personnel.                                                                                                                                                                                                                                                                           | X                           |                              
|1122(d)(2)(iii)                            | Advances of funds or guarantees
        regarding collections, cash flows or distributions, and any interest or other fees charged for such advances, are made,
        reviewed and approved as specified in the transaction agreements.                                                                                                                                                               |                             | X                            
|1122(d)(2)(iv)                             | The related accounts for the
        transaction, such as cash reserve accounts or accounts established as a form of over collateralization, are separately
        maintained (e.g., with respect to commingling of cash) as set forth in the transaction agreements.                                                                                                                                  | X                           |                              
|1122(d)(2)(v)                              | Each custodial account is
        maintained at a federally insured depository institution as set forth in the transaction agreements. For purposes of this
        criterion, “federally insured depository institution” with respect to a foreign financial institution means
        a foreign financial institution that meets the requirements of Rule 13k-1(b)(1) of the Securities Exchange Act. |                             | X                            
|1122(d)(2)(vi)                             | Unissued checks are safeguarded
        so as to prevent unauthorized access.                                                                                                                                                                                                                                                                                                                           |                             | X                            



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|Reference                                  | Servicing Criteria                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | ApplicableServicingCriteria | InapplicableServicingCriteria
|------------------------------------------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------------------------- | -----------------------------
|1122(d)(2)(vii)                            | Reconciliations are prepared
        on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank
        clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the
        bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved
        by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items.
        These reconciling items are resolved within 90 calendar days of their original identification, or such other number of
        days specified in the transaction agreements. |                             | X                            
|Investor
        Remittances and Reporting
|1122(d)(3)(i)                              | Reports to investors, including
        those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission
        requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the
        transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements;
        (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors’ or the
        trustee’s records as to the total unpaid principal balance and number of Pool Assets serviced by the Servicer.                                                      |                             | X                            
|1122(d)(3)(ii)                             | Amounts due to investors are
        allocated and remitted in accordance with timeframes, distribution priority and other terms set forth in the transaction
        agreements.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | X                           |                              
|1122(d)(3)(iii)                            | Disbursements made to an investor
        are posted within two business days to the Servicer’s investor records, or such other number of days specified in
        the transaction agreements.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | X                           |                              
|1122(d)(3)(iv)                             | Amounts remitted to investors
        per the investor reports agree with cancelled checks, or other form of payment, or custodial bank statements.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | X                           |                              
|Pool
        Asset Administration         
|1122(d)(4)(i)                              | Collateral or security on
        pool assets is maintained as required by the transaction agreements or related pool asset documents.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                             | X                            
|1122(d)(4)(ii)                             | Pool assets and related documents
        are safeguarded as required by the transaction agreements.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                             | X                            
|1122(d)(4)(iii)                            | Any additions, removals or
        substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the
        transaction agreements.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                             | X                            
|1122(d)(4)(iv)                             | Payments on pool assets, including
        any payoffs, made in accordance with the related pool asset documents are posted to the Servicer’s obligor records
        maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements,
        and allocated to principal, interest or other items (e.g., escrow) in accordance with the related pool asset documents.                                                                                                                                                                                                                                                                                                                 |                             | X                            
|1122(d)(4)(v)                              | The Servicer’s records
        regarding the pool assets agree with the Servicer’s records with respect to an obligor’s unpaid principal
        balance.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                             | X                            



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|Reference        | Servicing Criteria                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | ApplicableServicingCriteria | InapplicableServicingCriteria
|---------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------------------------- | -----------------------------
|1122(d)(4)(vi)   | Changes with respect to the
        terms or status of an obligor's pool assets (e.g., loan modifications or re-agings) are made, reviewed and approved by
        authorized personnel in accordance with the transaction agreements and related pool asset documents.                                                                                                                                                                                                                                                                                                                                                       |                             | X                            
|1122(d)(4)(vii)  | Loss mitigation or recovery
        actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable)
        are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction
        agreements.                                                                                                                                                                                                                                                                                                |                             | X                            
|1122(d)(4)(viii) | Records documenting collection
        efforts are maintained during the period a pool asset is delinquent in accordance with the transaction agreements. Such
        records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and
        describe the entity’s activities in monitoring delinquent pool assets including, for example, phone calls, letters
        and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment).                                                                                |                             | X                            
|1122(d)(4)(ix)   | Adjustments to interest rates
        or rates of return for pool assets with variable rates are computed based on the related pool asset documents.                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                             | X                            
|1122(d)(4)(x)    | Regarding any funds held in
        trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor’s pool
        asset documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest
        on such funds is paid, or credited, to obligors in accordance with applicable pool asset documents and state laws; and
        (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related pool assets, or such
        other number of days specified in the transaction agreements. |                             | X                            
|1122(d)(4)(xi)   | Payments made on behalf of
        an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated
        on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at
        least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreements.                                                                                                                                                                                                       |                             | X                            
|1122(d)(4)(xii)  | Any late payment penalties
        in connection with any payment to be made on behalf of an obligor are paid from the Servicer’s funds and not charged
        to the obligor, unless the late payment was due to the obligor’s error or omission.                                                                                                                                                                                                                                                                                                                                                                           |                             | X                            
|1122(d)(4)(xiii) | Disbursements made on behalf
        of an obligor are posted within two business days to the obligor’s records maintained by the servicer, or such other
        number of days specified in the transaction agreements.                                                                                                                                                                                                                                                                                                                                                                                                     |                             | X                            
|1122(d)(4)(xiv)  | Delinquencies, charge-offs
        and uncollectible accounts are recognized and recorded in accordance with the transaction agreements.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                             | X                            
|1122(d)(4)(xv)   | Any external enhancement or
        other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in
        the transaction agreements.                                                                                                                                                                                                                                                                                                                                                                                                                                 |                             | X                            



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