| Re: | TILES Trust No. 2006-1 |
|-----|------------------------|

| 1.   | A review of certain servicing activities of the Former Trustee and of the performance of the Former Trustee with respect to such servicing activities under the Agreement for the applicable periods (as outlined on Exhibit A) has been made under my supervision. |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2.   | To the best of my knowledge, based on such review, except as disclosed in the distribution reports, or the certificates required to be delivered pursuant to 17 CFR Section 229.1100 (“Regulation AB”),  the Former Trustee has fulfilled such obligations under the Agreement in all material respects during each relevant applicable period (as outlined on Exhibit A). |
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|  Mar 2003      Reference | Standard Terms for Trust Agreements Section                                                              | BANA Responsibility Period for 2011 Year |
|-------------------------------------------------------------|----------------------------------------------------------------------------------------------------------|------------------------------------------|
| 2.02                                                        | Entry Into Swap Agreement and Other Agreements                                                           | 1/1-9/6                                  |
| 3.02a                                                       | Administration of the Trust                                                                              | 1/1-9/6                                  |
| 3.02b                                                       | Administration of the Trust                                                                              | 1/1-9/6                                  |
| 3.03                                                        | Collection of Certain Underlying Security Payments                                                       | 1/1-9/6                                  |
| 3.04                                                        | Sale                                                                                                     | N/A                                      |
| 3.05a                                                       | Unit Account                                                                                             | 1/1-9/6                                  |
| 3.05b                                                       | Unit Account                                                                                             | 1/1-2/1                                  |
| 3.06                                                        | Investment of Funds in the Accounts                                                                      | 1/1-2/1                                  |
| 3.07                                                        | Retained Interest                                                                                        | 1/1-9/6                                  |
| 3.08                                                        | Access to Certain Documentation                                                                          | 1/1-9/6                                  |
| 4.01                                                        | Distributions                                                                                            | 1/1-9/6                                  |
| 4.02a                                                       | Reports to Unitholders and Others - with respect to statement information (i) to (xi)                    | N/A                                      |
| 4.02a                                                       | Reports to Unitholders and Others - with respect to 8-K filing                                           | 2/15/11 & 8/15/2011                  |
| 4.02a                                                       | Reports to Unitholders and Others - with respect to year end statement                                   | 1/1-9/6                                  |
| 4.02b                                                       | Reports to Unitholders and Others (b)                                                                    | 1/1-2/1                                  |
| 4.02c                                                       | Reports to Unitholders and Others (c)                                                                    | 1/1-2/1                                  |
| 4.02d                                                       | Reports to Unitholders and Others (d)                                                                    | 1/1-3/1                                  |
| 4.02e                                                       | Reports to Unitholders and Others (e)                                                                    | 1/1-2/1                                  |
| 4.02f                                                       | Reports to Unitholders and Others (f)                                                                    | 1/1-3/1                                  |
| 4.03                                                        | Calculation of Interest Rates                                                                            | 1/1-2/1                                  |
| 4.04                                                        | Compliance with Tax Reporting and Withholding Requirements                                               | 1/1-2/1                                  |
| 4.05                                                        | Preservation of Information, Communications to Holders - with respect to Registrar                       | 1/1-9/6                                  |
| 5.02                                                        | Execution, Authentication, and Delivery                                                                  | 1/1-9/6                                  |
| 5.03                                                        | Registration; Registration of Transfer and Exchange                                                      | 1/1-9/6                                  |
| 5.04                                                        | Mutilated, Destroyed, Lost and Stolen Units                                                              | 1/1-9/6                                  |
| 5.05                                                        | Distributions in Respect of Units                                                                        | 1/1-9/6                                  |
| 5.07                                                        | Cancellation                                                                                             | 1/1-9/6                                  |
| 5.08                                                        | Currency of Distributions in Respect of Units; Redenomination                                            | 1/1-9/6                                  |
| 5.09                                                        | Appointment of Paying Agent                                                                              | 1/1-9/6                                  |
| 5.10                                                        | Authenticating Agent                                                                                     | 1/1-9/6                                  |
| 5.11                                                        | Issuance and Transfer Restrictions                                                                       | 1/1-9/6                                  |
| 5.11e                                                       | Issuance and Transfer Restrictions                                                                       | 1/1-2/1                                  |
| 5.12                                                        | Optional Exchange                                                                                        | N/A                                      |
| 5.13                                                        | Callable Series - with respect to notices                                                                | N/A                                      |
| 5.13                                                        | Callable Series - with respect to distributions                                                          | N/A                                      |
| 7.01                                                        | Voting Rights with Respect to Underlying Securities                                                      | 1/1-2/1                                  |
| 7.02                                                        | Amendments and Waivers Under Swap Agreement and Guarantee                                                | N/A                                      |
| 8.01                                                        | Realization Upon Default                                                                                 | 1/1-2/1                                  |
| 9.01                                                        | Liquidation Events                                                                                       | 1/1-2/1                                  |
| 9.02                                                        | Trust Wind Up Event                                                                                      | 1/1-2/1                                  |
| 9.03                                                        | Expense Event                                                                                            | 1/1-2/1                                  |
| 9.05a                                                       | Disposition of Trust Property                                                                            | 1/1-2/1                                  |
| 9.05b                                                       | Disposition of Trust Property                                                                            | 1/1-9/6                                  |
| 9.05c                                                       | Disposition of Trust Property - with respect to administration of terminations and liquidations, notices | 1/1-2/1                                  |
| 9.05c                                                       | Disposition of Trust Property - with respect to distribution of proceeds                                 | 1/1-9/6                                  |
| 9.05d                                                       | Disposition of Trust Property                                                                            | 1/1-2/1                                  |
| 9.05h                                                       | Disposition of Trust Property                                                                            | 1/1-2/1                                  |
| 9.05j                                                       | Disposition of Trust Property                                                                            | 1/1-9/6                                  |
| 9.06                                                        | Limitation on Notice Requirement                                                                         | 1/1-2/1                                  |
| 10.01                                                       | Trustee Duties                                                                                           | 1/1-9/6                                  |
| 11.01                                                       | Termination of Trust                                                                                     | N/A                                      |
| 12.01                                                       | Amendment of Trust Agreement; Waivers                                                                    | 1/1-9/6                                  |
| 12.07                                                       | Notice to Rating Agencies                                                                                | 1/1-2/1                                  |
| 12.08                                                       | Perfection of the Swap Counterparty Security Interest                                                    | N/A                                      |
|                                                        | Trust Agreement Sections                                                                                 |                                     |
|   Schedule I                                      | Early Termination Date                                                                                   | 1/1-2/1                                  |
|  Schedule I                                            | Expense Administrator                                                                                    | 1/1-9/6                                  |
|  Schedule I                                            | Compliance Certificate                                                                                   | 1/1-3/1                                  |
|  Schedule I                                            | Officer’s Certificate                                                                              | 1/1-3/1                                  |
|  Schedule I                                            | Assessment of Compliance                                                                                 | 1/1-3/1                                  |
|  Schedule I                                            | Additional Reports to Depositor                                                                          | 1/1-9/6                                  |
|  Schedule I                                            | Additional Reports to Unitholders                                                                        | 1/1-2/1                                  |
|  Schedule I                                            | Distribution Reports                                                                                     | 1/1-9/6                                  |
|  Schedule I                                            | Trust Wind Up Events                                                                                     | 1/1-2/1                                  |