**EXHIBIT****15(a)(1)(v)**

 

CRIIMI MAE SERVICES LIMITED PARTNERSHIP

 

USAPReport and Report of Management

 

Asof and for the year ended December 31, 2004

 

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Report of Independent Auditors

 

Management

CRIIMI MAE Services Limited Partnership

 

We have examined management’s assertion, included inthe accompanying report titled *Report ofManagement*,**that CRIIMI MAE Services LimitedPartnership (the Partnership) complied with the minimum servicing standards setforth in the Mortgage Bankers Association of America’s *Uniform Single Attestation Program for MortgageBankers*(USAP) (except, for commercial loan and multifamily loanservicing, minimum servicing standards V.4. and VI.1., which the MortgageBankers Association of America has interpreted as inapplicable to such servicing)during the year ended December 31, 2004. Management is responsible for thePartnership’s compliance with those requirements. Our responsibility is toexpress an opinion on management’s assertions about the Partnership’scompliance based on our examination.

 

Our examination was made in accordance withattestation standards established by the American Institute of Certified PublicAccountants and, accordingly, included examining, on a test basis, evidenceabout the Partnership’s compliance with those requirements and performing suchother procedures as we considered necessary in the circumstances. We believethat our examination provides a reasonable basis for our opinion. Ourexamination does not provide a legal determination on the Partnership’s compliancewith specified requirements.

 

In our opinion, management’s assertion that thePartnership complied with the aforementioned requirements during the year endedDecember 31, 2004, is fairly stated, in all material respects.

 

 
|   | Ernst & Young LLP |   |
|--------|-----------------------|--------|

 

 

March 10, 2005

 

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Report of Management

 

We, as members of management of CRIIMI MAE Services Limited Partnership(the Partnership), are**responsiblefor complying with the minimum servicing standards as set forth in the MortgageBankers Association of America’s *UniformSingle Attestation Program for Mortgage Bankers*(USAP) (except, forcommercial loan and multifamily loan servicing, minimum servicing standardsV.4. and VI.1., which the Mortgage Bankers Association of America hasinterpreted as inapplicable to such servicing). We are also responsible forestablishing and maintaining effective internal control over compliance withthese standards. We have performed an evaluation of the Partnership’scompliance with the minimum servicing standards as set forth in the USAP as ofDecember 31, 2004 and for the year then ended. Based on this evaluation, weassert that during the year ended December 31, 2004, the Partnership complied,in all material respects, with the minimum servicing standards set forth in theUSAP.

 

As of and for the year ended December 31,2004, the Partnership had in effect a fidelity bond policy in the aggregateamount of $10 million and an errors and omissions policy in the aggregateamount of $20 million.

 

 
|            |   | /s/ Mark  Jarrell        |   |
|-----------------|--------|--------------------------|--------|
|            |   | Mark Jarrell             |
|            |   | President                |
|            |   | Chief  Operating Officer |
|            |   |                     |
|            |   |                     |
|            |   | /s/ Cynthia  O. Azzara   |   |
|            |   | Cynthia O. Azzara        |
|            |   | Executive Vice President |
|            |   | Chief Financial Officer  |
|            |   |                     |
|            |   |                     |
|            |   | /s/ Stephen  Abelman     |   |
|            |   | Stephen Abelman          |
|            |   | Executive Vice President |
|            |   | Asset Management         |
|            |   |                     |
|            |   |                     |
|            |   | /s/ Philip Mays          |   |
|            |   | Philip  Mays             |
|            |   | Vice President           |
|            |   | Corporate Controller     |
|            |   |                     |
| March 10,  2005 |   |                     |

 

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