Exhibit 4.1






WACHOVIA COMMERCIAL MORTGAGE SECURITIES, INC.
 Depositor


and


WACHOVIA BANK, NATIONAL ASSOCIATION
 Master Servicer


and


LNR PARTNERS, INC.
 Special Servicer


and


WELLS FARGO BANK, N.A.
 Trustee


POOLING AND SERVICING AGREEMENT


Dated as of May 1, 2007






$5,845,468,231


Commercial Mortgage Pass-Through Certificates
 
 Series 2007-C31













	
  
ARTICLE I
  	
DEFINITIONS
 	

 
  	
  
5
  
	  
	  
	  
	  
	  
	  

	
  
 
  	
  
    Section 1.01
  	
  
    Defined Terms
  	
  
 
  	
  
5
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
ARTICLE II
  	
  
CONVEYANCE   OF MORTGAGE LOANS; REPRESENTATIONS AND WARRANTIES; ORIGINAL ISSUANCE OF CERTIFICATES
  	
  
 
  	
  
85
  
	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 2.01
  	
  
Conveyance   of Mortgage Loans
  	
  
 
  	
  
85
  
	
   
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 2.02
  	
  
Acceptance   of the Trust Fund by Trustee
  	
  
 
  	
  
87
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 2.03
  	
  
Mortgage   Loan Seller’s Repurchase or Substitution of Mortgage Loans for Document   Defects and Breaches of Representations and Warranties
  	
  
 
  	
  
90
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
   
  	
  
Section 2.04
  	
  
Representations   and Warranties of Depositor
  	
  
 
  	
  
95
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 2.05
  	
  
Conveyance   of Mortgage Loans; Acceptance of REMIC I and Additional Interest Grantor   Trusts by Trustee
  	
  
 
  	
  
96
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 2.06
  	
  
Issuance of   the REMIC I Regular Interests; Execution, Authentication and Delivery of   Class R-I Certificates
  	
  
 
  	
  
96
  
	
   
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 2.07
  	
  
Conveyance   of REMIC I Regular Interests; Acceptance of REMIC II by Trustee
  	
  
 
  	
  
96
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 2.08
  	
  
Execution,   Authentication and Delivery of REMIC II Certificates, Class A-5FL   Regular Interest
  	
  
 
  	
  
97
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
   
  	
  
Section 2.09
  	
  
Execution,   Authentication and Delivery of Class A-5FL Certificates
  	
  
 
  	
  
97
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 2.10
  	
  
Execution,   Authentication and Delivery of Class Z Certificates
  	
  
 
  	
  
97
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
ARTICLE III
  	
  
ADMINISTRATION   AND SERVICING OF THE TRUST FUND
  	
  
 
  	
  
97
  
	
   
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 3.01
  	
  
Administration   of the Mortgage Loans
  	
  
 
  	
  
97
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 3.02
  	
  
Collection   of Mortgage Loan Payments
  	
  
 
  	
  
101
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
   
  	
  
Section 3.03
  	
  
Collection   of Taxes, Assessments and Similar Items; Servicing Accounts; Reserve Accounts
  	
  
 
  	
  
103
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 3.04
  	
  
Certificate   Account, Interest Reserve Account, Gain-on-Sale Reserve Account, Additional   Interest Account, Distribution Account and Companion Distribution Account and   Floating Rate Account
  	
  
 
  	
  
107
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 3.05
  	
  
Permitted   Withdrawals from the Certificate Account, Distribution Account, Interest   Reserve Account, Additional Interest Account, Gain-on-Sale Reserve Account,   Companion Distribution Account, Floating Rate Account and Interest Shortfall   Account
  	
  
 
  	
  
112
  



-ii-








	
  
 
  	
  
Section 3.06
  	
  
Investment   of Funds in the Servicing Accounts, Reserve Accounts, Certificate Account,   Floating Rate Accounts, Interest Reserve Account, Distribution Account,   Companion Distribution Account, Additional Interest Account, Gain-on-Sale   Reserve Account and REO Account
  	
  
 
  	
  
121
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 3.07
  	
  
Maintenance   of Insurance Policies; Errors and Omissions and Fidelity Coverage
  	
  
 
  	
  
123
  
	
   
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 3.08
  	
  
Enforcement   of Alienation Clauses
  	
  
 
  	
  
126
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 3.09
  	
  
Realization   Upon Defaulted Mortgage Loans; Required Appraisals
  	
  
 
  	
  
129
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
   
  	
  
Section 3.10
  	
  
Trustee and   Custodian to Cooperate; Release of Mortgage Files
  	
  
 
  	
  
133
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 3.11
  	
  
Servicing   Compensation
  	
  
 
  	
  
134
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 3.12
  	
  
Property   Inspections; Collection of Financial Statements; Delivery of Certain Reports
  	
  
 
  	
  
138
  
	
   
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 3.13
  	
  
Annual   Reports on Assessment of Compliance with Servicing Criteria and Annual   Statement as to Compliance
  	
  
 
  	
  
142
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 3.14
  	
  
Attestation   by Independent Public Accountants
  	
  
 
  	
  
145
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
   
  	
  
Section 3.15
  	
  
Access to   Certain Information
  	
  
 
  	
  
146
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 3.16
  	
  
Title to REO   Property; REO Account
  	
  
 
  	
  
149
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 3.17
  	
  
Management   of REO Property
  	
  
 
  	
  
151
  
	
   
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 3.18
  	
  
Resolution   of Defaulted Mortgage Loans and REO Properties
  	
  
 
  	
  
154
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 3.19
  	
  
Additional   Obligations of Master Servicer and Special Servicer
  	
  
 
  	
  
160
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
   
  	
  
Section 3.20
  	
  
Modifications,   Waivers, Amendments and Consents
  	
  
 
  	
  
160
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 3.21
  	
  
Transfer of   Servicing Between Master Servicer and Special Servicer; Record Keeping
  	
  
 
  	
  
168
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 3.22
  	
  
Sub-Servicing   Agreements
  	
  
 
  	
  
172
  
	
   
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 3.23
  	
  
Representations   and Warranties of Master Servicer and Special Servicer
  	
  
 
  	
  
175
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 3.24
  	
  
Sub-Servicing   Agreement Representation and Warranty
  	
  
 
  	
  
178
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
   
  	
  
Section 3.25
  	
  
Designation   of Controlling Class Representative
  	
  
 
  	
  
178
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 3.26
  	
  
Companion   Paying Agent
  	
  
 
  	
  
180
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 3.27
  	
  
Companion   Register
  	
  
 
  	
  
181
  
	
   
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 3.28
  	
  
Future Debt   Secured by Interests in Related Mortgagors
  	
  
 
  	
  
181
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 3.29
  	
  
Litigation   Control
  	
  
 
  	
  
181
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
   
  	
  
Section 3.30
  	
  
Swap   Contract
  	
  
 
  	
  
183
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 3.31
  	
  
Certain   Matters Relating to the Non-Serviced Mortgage Loans
  	
  
 
  	
  
185
  




-iii-








	
  
ARTICLE IV
  	
  
DISTRIBUTIONS   TO CERTIFICATEHOLDERS
  	
  
 
  	
  
187
  
	  
	  
	  
	  
	  
	  

	
  
 
  	
  
Section 4.01
  	
  
Distributions
  	
  
 
  	
  
187
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 4.02
  	
  
Statements   to Certificateholders; CMSA Loan Periodic Update File
  	
  
 
  	
  
203
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
   
  	
  
Section 4.03
  	
  
P&I   Advances
  	
  
 
  	
  
210
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 4.04
  	
  
Allocation   of Realized Losses and Additional Trust Fund Expenses; Allocation of Certificate   Deferred Interest; Allocation of Appraisal Reduction Amounts
  	
  
 
  	
  
214
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 4.05
  	
  
Calculations
  	
  
 
  	
  
216
  
	
   
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 4.06
  	
  
Use of   Agents
  	
  
 
  	
  
217
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
ARTICLE V
  	
  
THE   CERTIFICATES
  	
  
 
  	
  
217
  
	
  
 
  	
  
 
  	
  
 
  	
   
 
	
   
  	
  
Section 5.01
  	
  
The   Certificates
  	
  
 
  	
  
217
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 5.02
  	
  
Registration,   Transfer and Exchange of Certificates
  	
  
 
  	
  
218
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 5.03
  	
  
Book-Entry   Certificates
  	
  
 
  	
  
224
  
	
   
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 5.04
  	
  
Mutilated,   Destroyed, Lost or Stolen Certificates
  	
  
 
  	
  
225
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 5.05
  	
  
Persons   Deemed Owners
  	
  
 
  	
  
226
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  ARTICLE VI
  	
  
THE DEPOSITOR,   THE MASTER SERVICER, THE SPECIAL SERVICER AND THE CONTROLLING CLASS   REPRESENTATIVE
  	
  
 
  	
  
226
  
	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 6.01
  	
  
Liability of   Depositor, Master Servicer and Special Servicer
  	
  
 
  	
  
226
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 6.02
  	
  
Merger,   Consolidation or Conversion of Depositor or Master Servicer or Special   Servicer
  	
  
 
  	
  
226
  
	
   
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 6.03
  	
  
Limitation   on Liability of Depositor, Master Servicer and Special Servicer
  	
  
 
  	
  
227
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 6.04
  	
  
Resignation   of Master Servicer and the Special Servicer
  	
  
 
  	
  
229
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
   
  	
  
Section 6.05
  	
  
Rights of   Depositor and Trustee in Respect of Master Servicer and the Special Servicer
  	
  
 
  	
  
230
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 6.06
  	
  
Depositor,   Master Servicer and Special Servicer to Cooperate with Trustee
  	
  
 
  	
  
230
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 6.07
  	
  
Depositor,   Special Servicer and Trustee to Cooperate with Master Servicer
  	
  
 
  	
  
230
  
	
   
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 6.08
  	
  
Depositor,   Master Servicer and Trustee to Cooperate with Special Servicer
  	
  
 
  	
  
230
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 6.09
  	
  
Designation   of Special Servicer by the Controlling Class and Controlling Holders
  	
  
 
  	
  
231
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
   
  	
  
Section 6.10
  	
  
Master   Servicer or Special Servicer as Owner of a Certificate
  	
  
 
  	
  
233
  
						




-iv-








	
  
 
  	
  
Section 6.11
  	
  
The   Controlling Class Representative
  	
  
 
  	
  
233
  
	  
	  
	  
	  
	  
	  

	
  ARTICLE VII
  	
  
DEFAULT
  	
  
 
  	
  
237
  
	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 7.01
  	
  
Events of   Default
  	
  
 
  	
  
237
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 7.02
  	
  
Trustee to Act;   Appointment of Successor
  	
  
 
  	
  
242
  
	
   
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 7.03
  	
  
Notification   to Certificateholders and Companion Holders
  	
  
 
  	
  
243
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 7.04
  	
  
Waiver of   Events of Default
  	
  
 
  	
  
243
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
   
  	
  
Section 7.05
  	
  
Additional   Remedies of Trustee Upon Event of Default
  	
  
 
  	
  
244
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
ARTICLE VIII
  	
  
CONCERNING   THE TRUSTEE
  	
  
 
  	
  
244
  
	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 8.01
  	
  
Duties of   Trustee
  	
  
 
  	
  
244
  
	
   
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 8.02
  	
  
Certain   Matters Affecting Trustee
  	
  
 
  	
  
245
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 8.03
  	
  
Trustee Not   Liable for Validity or Sufficiency of Certificates or Mortgage Loans
  	
  
 
  	
  
247
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
   
  	
  
Section 8.04
  	
  
Trustee May   Own Certificates
  	
  
 
  	
  
247
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 8.05
  	
  
Fees and   Expenses of Trustee; Indemnification of Trustee
  	
  
 
  	
  
248
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 8.06
  	
  
Eligibility   Requirements for Trustee
  	
  
 
  	
  
248
  
	
   
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 8.07
  	
  
Resignation   and Removal of Trustee
  	
  
 
  	
  
249
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 8.08
  	
  
Successor   Trustee
  	
  
 
  	
  
250
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
   
  	
  
Section 8.09
  	
  
Merger or   Consolidation of Trustee
  	
  
 
  	
  
251
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 8.10
  	
  
Appointment   of Co-Trustee or Separate Trustee
  	
  
 
  	
  
251
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 8.11
  	
  
Appointment   of Custodians
  	
  
 
  	
  
252
  
	
   
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 8.12
  	
  
Appointment   of Authenticating Agents
  	
  
 
  	
  
253
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 8.13
  	
  
Access to   Certain Information
  	
  
 
  	
  
254
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
   
  	
  
Section 8.14
  	
  
Appointment   of REMIC Administrators
  	
  
 
  	
  
254
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 8.15
  	
  
Representations   and Warranties of Trustee
  	
  
 
  	
  
255
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 8.16
  	
  
Appointment   of the Paying Agent
  	
  
 
  	
  
256
  
	
   
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 8.17
  	
  
Reports to   the Securities and Exchange Commission; Available Information
  	
  
 
  	
  
257
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 8.18
  	
  
Maintenance   of Mortgage File
  	
  
 
  	
  
268
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  ARTICLE IX
  	
  
TERMINATION
  	
  
 
  	
  
268
  
	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 9.01
  	
  
Termination   Upon Repurchase or Liquidation of All Mortgage Loans
  	
  
 
  	
  
268
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 9.02
  	
  
Additional   Termination Requirements
  	
  
 
  	
  
272
  
						



-v-








	
  
ARTICLE X
  	
  
ADDITIONAL   TAX PROVISIONS
  	
  
 
  	
  
273
  
	  
	  
	  
	  
	  
	  

	
  
 
  	
  
Section   10.01
  	
  
REMIC   Administration
  	
  
 
  	
  
273
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
   
  	
  
Section   10.02
  	
  
Administration   of the Additional Interest Grantor Trust and the Class A-5FL Grantor Trust
  	
  
 
  	
  
277
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
ARTICLE XI
  	
  
MISCELLANEOUS   PROVISIONS
  	
  
 
  	
  
280
  
	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section   11.01
  	
  
Amendment
  	
  
 
  	
  
280
  
	
   
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section   11.02
  	
  
Recordation   of Agreement; Counterparts
  	
  
 
  	
  
283
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 11.03
  	
  
Limitation   on Rights of Certificateholders
  	
  
 
  	
  
283
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
   
  	
  
Section   11.04
  	
  
Governing   Law
  	
  
 
  	
  
284
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section   11.05
  	
  
Notices
  	
  
 
  	
  
284
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section   11.06
  	
  
Severability   of Provisions
  	
  
 
  	
  
285
  
	
   
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section   11.07
  	
  
Grant of a   Security Interest
  	
  
 
  	
  
285
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section 11.08
  	
  
Streit Act
  	
  
 
  	
  
286
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
   
  	
  
Section   11.09
  	
  
Successors   and Assigns; Beneficiaries
  	
  
 
  	
  
286
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section   11.10
  	
  
Article and   Section Headings
  	
  
 
  	
  
286
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section   11.11
  	
  
Notices to   Rating Agencies
  	
  
 
  	
  
286
  
	
   
  	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
 
  	
  
Section   11.12
  	
  
Complete   Agreement
  	
  
 
  	
  
288
  
						




-vi-









EXHIBITS

	
  
Exhibit   Description
  	
   
 	
  
Exhibit   No.
  	
   
 	
  
Section Reference
  
	
  


  	
   
 	
  


  	
   
 	
  


  
	
  Form of   Class A-1 Certificate
  	
  
 
  	
  
A-1
  	
  
 
  	
  
Section 1.01   Definition of “Class A-1 Certificate”
  
	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
Form of   Class A-2 Certificate
  	
  
 
  	
  
A-2
  	
  
 
  	
  
Section 1.01   Definition of “Class A-2 Certificate”
  
	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  Form of   Class A-3 Certificate
  	
  
 
  	
  
A-3
  	
  
 
  	
  
Section 1.01   Definition of “Class A-3 Certificate”
  
	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
Form of   Class A-PB Certificate
  	
  
 
  	
  
A-4
  	
  
 
  	
  
Section 1.01   Definition of “Class A-PB Certificate”
  
	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
Form of   Class A-4 Certificate
  	
  
 
  	
  
A-5
  	
  
 
  	
  
Section 1.01   Definition of “Class A-4 Certificate”
  
	
   
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
Form of   Class A-5 Certificate
  	
  
 
  	
  
A-6
  	
  
 
  	
  
Section 1.01   Definition of “Class A-5 Certificate”
  
	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
Form of   Class A-5FL Certificate
  	
  
 
  	
  
A-7
  	
  
 
  	
  
Section 1.01   Definition of “Class A-5FL Certificate”
  
	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  Form of   Class A-1A Certificate
  	
  
 
  	
  
A-8
  	
  
 
  	
  
Section 1.01   Definition of “Class A-1A Certificate”
  
	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
Form of   Class A-M Certificate
  	
  
 
  	
  
A-9
  	
  
 
  	
  
Section 1.01   Definition of “Class A-M Certificate”
  
	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
Form of   Class A-J Certificate
  	
  
 
  	
  
A-10
  	
  
 
  	
  
Section 1.01   Definition of “Class A-J Certificate”
  
	
   
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
Form of   Class B Certificate
  	
  
 
  	
  
A-11
  	
  
 
  	
  
Section 1.01   Definition of “Class B Certificate”
  
	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
Form of   Class C Certificate
  	
  
 
  	
  
A-12
  	
  
 
  	
  
Section 1.01   Definition of “Class C Certificate”
  
	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  Form of   Class D Certificate
  	
  
 
  	
  
A-13
  	
  
 
  	
  
Section 1.01   Definition of “Class D Certificate”
  
	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
Form of   Class E Certificate
  	
  
 
  	
  
A-14
  	
  
 
  	
  
Section 1.01   Definition of “Class E Certificate”
  
	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
Form of   Class F Certificate
  	
  
 
  	
  
A-15
  	
  
 
  	
  
Section 1.01   Definition of “Class F Certificate”
  
	
   
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
Form of   Class G Certificate
  	
  
 
  	
  
A-16
  	
  
 
  	
  
Section 1.01   Definition of “Class G Certificate”
  
	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
Form of   Class H Certificate
  	
  
 
  	
  
A-17
  	
  
 
  	
  
Section 1.01   Definition of “Class H Certificate”
  
	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  Form of   Class J Certificate
  	
  
 
  	
  
A-18
  	
  
 
  	
  
Section 1.01   Definition of “Class J Certificate”
  
	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
Form of   Class K Certificate
  	
  
 
  	
  
A-19
  	
  
 
  	
  
Section 1.01   Definition of “Class K Certificate”
  
	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
Form of   Class L Certificate
  	
  
 
  	
  
A-20
  	
  
 
  	
  
Section 1.01   Definition of “Class L Certificate”
  
	
   
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
Form of   Class M Certificate
  	
  
 
  	
  
A-21
  	
  
 
  	
  
Section 1.01   Definition of “Class M Certificate”
  
	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
Form of   Class N Certificate
  	
  
 
  	
  
A-22
  	
  
 
  	
  
Section 1.01   Definition of “Class N Certificate”
  




-vii-








	
  
Exhibit   Description
  	
   
 	
  
Exhibit   No.
  	
   
 	
  
Section Reference
  
	
  


  	
   
 	
  


  	
   
 	
  


  
	
  
Form of   Class O Certificate
  	
  
 
  	
  
A-23
  	
  
 
  	
  
Section 1.01   Definition of “Class O Certificate”
  
	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  Form of   Class P Certificate
  	
  
 
  	
  
A-24
  	
  
 
  	
  
Section 1.01   Definition of “Class P Certificate”
  
	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
Form of   Class Q Certificate
  	
  
 
  	
  
A-25
  	
  
 
  	
  
Section 1.01   Definition of “Class Q Certificate”
  
	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
Form of   Class S Certificate
  	
  
 
  	
  
A-26
  	
  
 
  	
  
Section 1.01   Definition of “Class S Certificate”
  
	
   
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
Form of   Class T Certificate
  	
  
 
  	
  
A-27
  	
  
 
  	
  
Section 1.01   Definition of “Class T Certificate”
  
	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
Form of   Class U Certificate
  	
  
 
  	
  
A-28
  	
  
 
  	
  
Section 1.01   Definition of “Class U Certificate”
  
	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  Form of   Class IO Certificate
  	
  
 
  	
  
A-29
  	
  
 
  	
  
Section 1.01   Definition of “Class IO Certificate”
  
	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
Form of   Class R-I Certificate
  	
  
 
  	
  
A-30
  	
  
 
  	
  
Section 1.01   Definition of “Class R-I Certificate”
  
	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
Form of   Class R-II Certificate
  	
  
 
  	
  
A-31
  	
  
 
  	
  
Section 1.01   Definition of “Class R-II Certificate”
  
	
   
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
Form of   Class Z Certificate
  	
  
 
  	
  
A-32
  	
  
 
  	
  
Section 1.01   Definition of “Class Z Certificate”
  
	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
Mortgage   Loan Schedule
  	
  
 
  	
  
B
  	
  
 
  	
  
Section 1.01   Definition of “Mortgage Loan Schedule”
  
	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  Schedule of   Exceptions to Mortgage File Delivery
  	
  
 
  	
  
C-1
  	
  
 
  	
  
Section 2.02(a)
  
	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
Form of   Custodial Certification
  	
  
 
  	
  
C-2
  	
  
 
  	
  
Section 2.02(b)
  
	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
Form of   Master Servicer Request for Release
  	
  
 
  	
  
D-1
  	
  
 
  	
  
Section 1.01   Definition of “Request for Release”; Section 2.03(b);   Section 3.10(a); and Section 3.10(b)
  
	
   
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
Form of   Special Servicer Request for Release
  	
  
 
  	
  
D-2
  	
  
 
  	
  
Section 1.01   Definition of “Request for Release”; Section 3.10(b)
  
	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
Calculation   of NOI/Debt Service Coverage Ratios
  	
  
 
  	
  
E
  	
  
 
  	
  
Section 1.01   Definition of “Net Operating Income”
  
	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  Form of   Transferor Certificate
  	
  
 
  	
  
F-1
  	
  
 
  	
  
Section 5.02(b)
  
	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
Form of   Transferee Certificate for QIBs
  	
  
 
  	
  
F-2
  	
  
 
  	
  
Section 5.02(b)
  
	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
Form of   Transferee Certificate for Non-QIBs
  	
  
 
  	
  
F-3
  	
  
 
  	
  
Section 5.02(b)
  
	
   
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
Form of   Transferee Certificate for Transfers Pursuant to Regulation S
  	
  
 
  	
  
F-4
  	
  
 
  	
  
Section 5.02(b)
  
	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
Form of   Transferee Certificate for Exchange or Transfer From Domestic Global   Certificate to Regulation S Global Certificate During the Restricted Period
  	
  
 
  	
  
F-5
  	
  
 
  	
  
Section 1.01   Definition of “Exchange Certificate”; Section 5.02(b)
  
	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  Form of   Transferee Certificate for Exchange or Transfer From Domestic Global   Certificate to Regulation S Global Certificate After the Restricted Period
  	
  
 
  	
  
F-6
  	
  
 
  	
  
Section 1.01   Definition of “Exchange Certificate”; Section 5.02(b)
  




-viii-








	
  
Exhibit   Description
  	
   
 	
  
Exhibit   No.
  	
   
 	
  
Section Reference
  
	
  


  	
   
 	
  


  	
   
 	
  


  
	
  Form of Transferee   Certificate
  	
  
 
  	
  
G
  	
  
 
  	
  
Section 5.02(c)
  
	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
Form of   Transfer Affidavit and Agreement Pursuant to Section 5.02(d)(i)(B)
  	
  
 
  	
  
H-1
  	
  
 
  	
  
Section 5.02(d)(i)(B)
  
	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
Form of   Transferor Certificate Pursuant to Section 5.02(d)(i)(D)
  	
  
 
  	
  
H-2
  	
  
 
  	
  
Section 5.02(d)(i)(D)
  
	
   
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
Form of   Notice and Acknowledgment
  	
  
 
  	
  
I-1
  	
  
 
  	
  
Section 6.09
  
	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
Form of   Acknowledgment of Proposed Special Servicer
  	
  
 
  	
  
I-2
  	
  
 
  	
  
Section 6.09
  
	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  List of   Earnout and Holdback Mortgage Loans
  	
  
 
  	
  
J
  	
  
 
  	
  
Section   3.20(j)
  
	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
Form of   Certificateholder Confirmation Certificate Request by Beneficial Holder
  	
  
 
  	
  
K-1
  	
  
 
  	
  
Section 1.01   Definition of “Privileged Person”; Section 3.15(a)
  
	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
Form of   Prospective Purchaser Certificate
  	
  
 
  	
  
K-2
  	
  
 
  	
  
Section 1.01   Definition of “Privileged Person”; Section 3.15(a)
  
	
   
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
Initial   Companion Holders
  	
  
 
  	
  
L
  	
  
 
  	
  
Section 3.27
  
	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
Form of   Purchase Option Notice
  	
  
 
  	
  
M
  	
  
 
  	
  
Section 3.18(e)
  
	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  Form of   Defeasance Certificate
  	
  
 
  	
  
N
  	
  
 
  	
  
Section 3.20(h)
  
	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
Form of   Depositor Certification
  	
  
 
  	
  
O
  	
  
 
  	
  
Section 8.17(k)(v); Section 8.17(n)
  
	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
Form of   Trustee Certification
  	
  
 
  	
  
P
  	
  
 
  	
  
Section 8.17(n)
  
	
   
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
Form of   Master Servicer Certification
  	
  
 
  	
  
Q-1
  	
  
 
  	
  
Section 8.17(n)
  
	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
Form of   Special Servicer Certification
  	
  
 
  	
  
Q-2
  	
  
 
  	
  
Section 8.17(n)
  
	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  Class A-PB   Planned Principal Balance Schedule
  	
  
 
  	
  
R
  	
  
 
  	
  
Section 1.01   Definition of “Class A-PB Planned Principal Balance”
  
	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
Relevant   Servicing Criteria
  	
  
 
  	
  
S
  	
  
 
  	
  
Section 1.01   Definition of “Relevant Servicing Criteria”; Section 3.13(a)
  
	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
RESERVED
  	
  
 
  	
  
T
  	
  
 
  	
  
 
  
	
   
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
Additional   Form 10-D Disclosure
  	
  
 
  	
  
U
  	
  
 
  	
  
Section 8.17(i)
  
	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
Additional   Disclosure Notification
  	
  
 
  	
  
V
  	
  
 
  	
  
Section 1.01   Definition of “Additional Disclosure Notification”; Section 8.17(i);   Section 8.17(j); 8.17(k)
  
	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  Additional   Form 10-K Disclosure
  	
  
 
  	
  
W
  	
  
 
  	
  
Section 8.17(k)
  
	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
Form 8-K   Disclosure Information
  	
  
 
  	
  
X
  	
  
 
  	
  
Section 8.17(j)
  
	
  
 
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
Sub-Servicer   List
  	
  
 
  	
  
Y
  	
  
 
  	
  
Section 3.13(b);   Section 3.14; Section 7.01(a)(xi)
  
	
   
  	
  
 
  	
   
 	
  
 
  	
  
 
  
	
  
Tenants-in-Common   Transfer Compliance
  	
  
 
  	
  
Z
  	
  
 
  	
  
Section 1.01   Definition of “Tenants-In-Common Loan”; Section 3.08(a)(ii)
  




-ix-









POOLING AND SERVICING AGREEMENT


                    This Pooling and Servicing Agreement (this “Agreement”) is dated and effective as of May 1, 2007, among WACHOVIA COMMERCIAL MORTGAGE SECURITIES, INC., as Depositor, WACHOVIA BANK, NATIONAL ASSOCIATION, as Master Servicer, LNR PARTNERS, INC., as Special Servicer, and WELLS FARGO BANK, N.A., as Trustee.


PRELIMINARY STATEMENT:


                    The Depositor intends to sell mortgage pass-through certificates (collectively, the “Certificates”), to be issued hereunder in multiple classes (each, a “Class”), which in the aggregate will evidence the entire beneficial ownership interest in a trust fund (the “Trust Fund”) to be created hereunder, the primary assets of which will be the Mortgage Loans.


REMIC I


                    As provided herein, the Trustee will elect to treat the segregated pool of assets consisting of all of the Mortgage Loans (exclusive of that portion of the interest payments thereon that constitutes Additional Interest) and certain other related assets subject to this Agreement as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as REMIC I.  The Class R-I Certificates will represent the sole class of “residual interests” in REMIC I for purposes of the REMIC Provisions under federal income tax law.  For federal income tax purposes, the interests defined in the table below the heading “REMIC II” as “Corresponding REMIC I Regular Interests” are the “regular interests” in REMIC I.


REMIC II


                    As provided herein, the Trustee will elect to treat the segregated pool of assets consisting of all of the REMIC I Regular Interests as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as REMIC II.  The Class R-II Certificates will evidence the sole class of “residual interests” in REMIC II for purposes of the REMIC Provisions under federal income tax law.  For federal income tax purposes, each Class of Regular Certificates and the Class A-5FL Regular Interest will be designated as a separate “regular interest” in REMIC II for purposes of the REMIC Provisions under federal income tax law.  Each of the “Corresponding Components of Class IO Certificates” is a “regular interest” in REMIC II and the Class
IO Certificates represent such Corresponding Components.


                    The following table sets forth the Class or Component designation, the original REMIC I Principal Balance for each corresponding REMIC I Regular Interest (each, a “Corresponding REMIC I Regular Interest”), the Corresponding Components of the Class IO Certificates (the “Corresponding Components”) and the Original Class Principal Balance for each Class of Sequential Pay Certificates (the “Corresponding Certificates”).









	
  Corresponding
   Certificates
  	
   
 	
  
Original Class
   Principal
   Balance
  	
   
 	
  
Corresponding
   REMIC I
   Regular
   Interests (1)
  	
   
 	
  
Original
   REMIC I
   Principal
   Balance
  	
   
 	
  
REMIC I
   Pass-Through
   Rate
  	
   
 	
  
Corresponding
   Components
   of Class IO
   Certificates (1)
  
	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  
	
  Class A-1
  	
  
 
  	
  
$50,911,000
  	
  
 
  	
  
LA-1
  	
  
 
  	
  
$50,911,000
  	
  
 
  	
  
(2)
  	
  
 
  	
  
IO-A-1
  
	
  
Class A-2
  	
  
 
  	
  
$663,472,000
  	
  
 
  	
  
LA-2
  	
  
 
  	
  
$663,472,000
  	
  
 
  	
  
(2)
  	
  
 
  	
  
IO-A-2
  
	
  Class A-3
  	
  
 
  	
  
$188,934,000
  	
  
 
  	
  
LA-3
  	
  
 
  	
  
$188,934,000
  	
  
 
  	
  
(2)
  	
  
 
  	
  
IO-A-3
  
	
  
Class A-PB
  	
  
 
  	
  
$85,402,000
  	
  
 
  	
  
LA-PB
  	
  
 
  	
  
$85,402,000
  	
  
 
  	
  
(2)
  	
  
 
  	
  
IO-A-PB
  
	
  Class A-4
  	
  
 
  	
  
$1,025,478,000
  	
  
 
  	
  
LA-4
  	
  
 
  	
  
$1,025,478,000
  	
  
 
  	
  
(2)
  	
  
 
  	
  
IO-A-4
  
	
  
Class A-5
  	
  
 
  	
  
$250,000,000
  	
  
 
  	
  
LA-5
  	
  
 
  	
  
$250,000,000
  	
  
 
  	
  
(2)
  	
  
 
  	
  
IO-A-5
  
	
  Class A-5FL
  	
  
 
  	
  
$500,000,000
  	
  
 
  	
  
LA-5FL
  	
  
 
  	
  
$500,000,000
  	
  
 
  	
   
 	
  
 
  	
   
 
	
  
Class A-1A
  	
  
 
  	
  
$1,327,630,000
  	
  
 
  	
  
LA-1A-1
  	
  
 
  	
  
$1,327,630,000
  	
  
 
  	
  
(2)
  	
  
 
  	
  
IO-A-1A-1
  
	
  Class A-M
  	
  
 
  	
  
$584,547,000
  	
  
 
  	
  
LA-M
  	
  
 
  	
  
$584,547,000
  	
  
 
  	
  
(2)
  	
  
 
  	
  
IO-A-M
  
	
  
Class A-J
  	
  
 
  	
  
$460,331,000
  	
  
 
  	
  
LA-J
  	
  
 
  	
  
$460,331,000
  	
  
 
  	
  
(2)
  	
  
 
  	
  
IO-A-J
  
	
  Class B
  	
  
 
  	
  
$36,534,000
  	
  
 
  	
  
LB
  	
  
 
  	
  
$36,534,000
  	
  
 
  	
  
(2)
  	
  
 
  	
  
IO-B
  
	
  
Class C
  	
  
 
  	
  
$73,068,000
  	
  
 
  	
  
LC
  	
  
 
  	
  
$73,068,000
  	
  
 
  	
  
(2)
  	
  
 
  	
  
IO-C
  
	
  Class D
  	
  
 
  	
  
$73,069,000
  	
  
 
  	
  
LD
  	
  
 
  	
  
$73,069,000
  	
  
 
  	
  
(2)
  	
  
 
  	
  
IO-D
  
	
  
Class E
  	
  
 
  	
  
$29,227,000
  	
  
 
  	
  
LE
  	
  
 
  	
  
$29,227,000
  	
  
 
  	
  
(2)
  	
  
 
  	
   
 
	
  Class F
  	
  
 
  	
  
$51,148,000
  	
  
 
  	
  
LF
  	
  
 
  	
  
$51,148,000
  	
  
 
  	
  
(2)
  	
  
 
  	
   
 
	
  
Class G
  	
  
 
  	
  
$58,454,000
  	
  
 
  	
  
LG
  	
  
 
  	
  
$58,454,000
  	
  
 
  	
  
(2)
  	
  
 
  	
   
 
	
  Class H
  	
  
 
  	
  
$80,376,000
  	
  
 
  	
  
LH
  	
  
 
  	
  
$80,376,000
  	
  
 
  	
  
(2)
  	
  
 
  	
   
 
	
  
Class J
  	
  
 
  	
  
$51,147,000
  	
  
 
  	
  
LJ
  	
  
 
  	
  
$51,147,000
  	
  
 
  	
  
(2)
  	
  
 
  	
   
 
	
  Class K
  	
  
 
  	
  
$65,762,000
  	
  
 
  	
  
LK
  	
  
 
  	
  
$65,762,000
  	
  
 
  	
  
(2)
  	
  
 
  	
   
 
	
  
Class L
  	
  
 
  	
  
$29,227,000
  	
  
 
  	
  
LL
  	
  
 
  	
  
$29,227,000
  	
  
 
  	
  
(2)
  	
  
 
  	
  
IO-L
  
	
  Class M
  	
  
 
  	
  
$14,614,000
  	
  
 
  	
  
LM
  	
  
 
  	
  
$14,614,000
  	
  
 
  	
  
(2)
  	
  
 
  	
  
IO-M
  
	
  
Class N
  	
  
 
  	
  
$21,921,000
  	
  
 
  	
  
LN
  	
  
 
  	
  
$21,921,000
  	
  
 
  	
  
(2)
  	
  
 
  	
  
IO-N
  
	
  Class O
  	
  
 
  	
  
$14,614,000
  	
  
 
  	
  
LO
  	
  
 
  	
  
$14,614,000
  	
  
 
  	
  
(2)
  	
  
 
  	
  
IO-O
  
	
  
Class P
  	
  
 
  	
  
$14,613,000
  	
  
 
  	
  
LP
  	
  
 
  	
  
$14,613,000
  	
  
 
  	
  
(2)
  	
  
 
  	
  
IO-P
  
	
  Class Q
  	
  
 
  	
  
$14,614,000
  	
  
 
  	
  
LQ
  	
  
 
  	
  
$14,614,000
  	
  
 
  	
  
(2)
  	
  
 
  	
  
IO-Q
  
	
  
Class S
  	
  
 
  	
  
$7,306,000
  	
  
 
  	
  
LS
  	
  
 
  	
  
$7,306,000
  	
  
 
  	
  
(2)
  	
  
 
  	
  
IO-S
  
	
  Class T
  	
  
 
  	
  
$14,614,000
  	
  
 
  	
  
LT
  	
  
 
  	
  
$14,614,000
  	
  
 
  	
  
(2)
  	
  
 
  	
  
IO-T
  
	
  
Class U
  	
  
 
  	
  
$58,455,231
  	
  
 
  	
  
LU
  	
  
 
  	
  
$58,455,231
  	
  
 
  	
  
(2)
  	
  
 
  	
  
IO-U
  





	
  


  
	
  
(1)
  	
  
The REMIC I Regular   Interest and the Component of the Class IO Certificates that corresponds to   any particular Class of Sequential Pay Certificates also correspond to each   other and, accordingly, constitute the Corresponding REMIC I Regular Interest   and the Corresponding Component (if any), respectively, with respect to each   other.
  
	
  
 
  	
  
 
  
	
  
(2)
  	
  
The Weighted Average Net   Mortgage Rate.
  
	
  
 
  	
  
 
  
	
  
(3)
  	
  
REMIC I Regular Interest   LA-5FL does not correspond to any Class of Certificates, but rather   corresponds to the Class A-5FL Regular Interest.  The pass through rate applicable to the Class A-5FL   Certificates on each distribution date will be a per annum rate equal to LIBOR plus 0.210%.  Subject to the provisions of this   Agreement and the Swap Contract, the pass-through rate applicable to the   Class A-5FL Certificates may convert to a fixed rate equal to 0.210%  per annum.
  



                    The portion of the Trust Fund consisting of the Additional Interest and amounts held from time to time in the Additional Interest Account that represent Additional Interest shall be treated as a grantor trust (the “Additional Interest Grantor Trust”) for federal income tax purposes.  The Class Z Certificates represent undivided beneficial interests in the Additional Interest Grantor Trust.  The Class A-5FL Regular Interest, the Swap Contract, the Floating Rate


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Account and the proceeds thereof shall be treated as another grantor trust (the “A-5FL Grantor Trust”) for federal income tax purposes.  The Class A-5FL Certificates represent an undivided beneficial interest in the Class A-5FL Grantor Trust.  


                    Each of the mortgage loans referred to in this Agreement as the Five Times Square Pari Passu Companion Loans, the Five Times Square Subordinate Companion Loan, the Beacon D.C. & Seattle Pool Pari Passu Companion Loans, the 666 Fifth Avenue Pari Passu Companion Loans, the Peter Cooper Village & Stuyvesant Town Pari Passu Companion Loans, the Peter Cooper Village & Stuyvesant Town Future Pari Passu Companion Loan, if advanced, the Los Angeles International Jewelry Center Subordinate Companion Loan, the Lembi Pool Subordinate Companion Loan, the 611 West 6th Street Subordinate Companion Loan, the Wynn Palms Apartments Subordinate Companion Loan, the Doubletree Hotel – Tucson, AZ Subordinate Companion Loan, the Quail Creek Subordinate Companion Loan and the Rancho Vista Apartments Subordinate Companion Loan (each, a
“Companion Loan” and, collectively, the “Companion Loans”) are not and will not be part of the Trust Fund but are secured by corresponding Mortgages that secure certain related Mortgage Loans that are identified on the Mortgage Loan Schedule as the Five Times Square Loan (loan number 1) (with respect to each of the Five Times Square Pari Passu Companion Loans #1 and #2 and the Five Times Square Subordinate Companion Loan), the Beacon D.C. & Seattle Pool Loan (loan number 2), the 666 Fifth Avenue Loan (loan number 3), the Peter Cooper Village & Stuyvesant Town Loan (loan number 5), the Los Angeles International Jewelry Center Loan (loan number 10), the Lembi Pool Loan (loan number 11), the 611 West 6th Street Loan (loan number 21), the Wynn Palms Apartments Loan (loan number 40), the Doubletree Hotel – Tucson, AZ Loan (loan number 44), the Quail Creek Loan (loan number 103) and the Rancho Vista Apartments Loan (loan number 108), (each, a “Co-Lender


Loan” and collectively, the “Co-Lender Loans”) that are part of the Trust Fund.


                    The Five Times Square Loan, the Five Times Square Pari Passu Companion Loan #1 and the Five Times Square Pari Passu Companion Loan #2 are pari passu in right of entitlement with each other.  The Five Times Square Subordinate Companion Loan is subordinate in right of entitlement to the Five Times Square Loan and the Five Times Square Pari Passu Companion Loans.  The Beacon D.C. & Seattle Pool Loan and the Beacon D.C. & Seattle Pool Pari Passu Companion Loans are pari passu in right of entitlement with each other.  The 666 Fifth Avenue Loan and the 666 Fifth Avenue Pari Passu Companion Loans are pari passu in right of entitlement with each other.  The Peter Cooper Village & Stuyvesant Town Loan, the Peter Cooper Village & Stuyvesant Town Pari Passu Companion Loans and the Peter Cooper
Village & Stuyvesant Town Future Pari Passu Companion Loan, if advanced, are and will be pari passu in right of entitlement with each other.  The Los Angeles International Jewelry Center Subordinate Companion Loan is subordinate in right of entitlement to the Los Angeles International Jewelry Center Loan. The Lembi Pool Subordinate Companion Loan is subordinate in right of entitlement to the Lembi Pool Loan. The 611 West 6th Street Subordinate Companion Loan is subordinate in right of entitlement to the 611 West 6th Street Loan. The Wynn Palms Apartments Subordinate Companion Loan is subordinate in right of entitlement to the Wynn Palms Apartments Loan. The Doubletree Hotel – Tucson, AZ Subordinate Companion Loan is subordinate in right of entitlement to the Doubletree Hotel – Tucson, AZ Loan. The Quail Creek Subordinate Companion Loan is subordinate in right of entitlement to the Quail Creek Loan. The Rancho Vista Apartments Subordinate Companion Loan is subordinate in right


of entitlement to


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the Rancho Vista Apartments Loan.  As and to the extent provided herein, each of the Companion Loans (other than the Five Times Square Pari Passu Companion Loan, the Five Times Square Subordinate Companion Loan, the Beacon D.C. & Seattle Pool Pari Passu Companion Loans, the 666 Fifth Avenue Pari Passu Companion Loan, the Peter Cooper Village & Stuyvesant Town Pari Passu Companion Loan and the Peter Cooper Village & Stuyvesant Town Future Pari Passu Companion Loan, if advanced) will be serviced and administered in accordance with this Agreement.  Each of the Five Times Square Pari Passu Companion Loan, the Five Times Square Subordinate Companion Loan, the Peter Cooper Village & Stuyvesant Town Pari Passu Companion Loan and the Peter Cooper Village & Stuyvesant Town Future Pari Passu Companion Loan, if advanced, will be serviced and administered in accordance with the pooling and servicing agreement (the “2007-C30 Pooling and
Servicing Agreement”), dated as of March 1, 2007, by and among Wachovia Commercial Mortgage Securities, Inc., as depositor (the “2007-C30 Depositor”), Wachovia Bank, National Association, as master servicer (the “2007-C30 Master Servicer”), CWCapital Asset Management LLC, as special servicer (the “2007-C30 Special Servicer”), and Wells Fargo Bank, N.A., as trustee (the “2007-C30 Trustee”), pursuant to which the Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2007-C30 were issued and the trust fund (the “2007-C30 Trust Fund”) was created. The Beacon D.C. & Seattle Pool Loan and the Beacon D.C. & Seattle Pool Pari Passu Companion Loans will be serviced and administered in accordance with the pooling and servicing agreement (the “Morgan Stanley 2007-IQ14 Pooling and Servicing Agreement”), which is expected to be executed on or about the date


of this Agreement, by and among Morgan Stanley Capital I Inc., as depositor (the “Morgan Stanley 2007-IQ14 Depositor”), Wells Fargo Bank, N.A., as master servicer (the “Morgan Stanley 2007-IQ14 Master Servicer”), ARCap Special Servicing Inc., as special servicer (the “Morgan Stanley 2007-IQ14 Special Servicer”), and the Bank of New York, as trustee (the “Morgan Stanley 2007-IQ14 Trustee”) pursuant to which the Morgan Stanley Capital I Trust, Commercial Mortgage Pass-Through Certificates, Series 2007-IQ14 and the trust fund (the “Morgan Stanley 2007-IQ14 Trust Fund”) was created. The 666 Fifth Avenue Loan and the 666 Fifth Avenue Pari Passu Companion Loans will be serviced and administered in accordance with the pooling and servicing agreement (the “GECMC 2007-C1 Pooling and Servicing Agreement”), dated as of May 1, 2007, by and among GE Commercial Mortgage Corporation, as depositor (the “GECMC


2007-C1 Depositor”), Bank of America, National Association as master servicer with respect to the 666 Fifth Avenue Whole Loan (the “GECMC 2007-C1 Master Servicer”), LNR Partners, Inc., as special servicer (the “GECMC 2007-C1 Special Servicer”), and Wells Fargo Bank, N.A., as trustee (the “GECMC 2007-C1 Trustee”), pursuant to which the GE Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2007-C1, were issued and the trust fund (the “GECMC 2007-C1 Trust Fund”) was created.  Amounts attributable to the Companion Loans will not be assets of the Trust Fund and will be owned by the Companion Holders.


                    In consideration of the mutual agreements herein contained, the Depositor, the Master Servicer, the Special Servicer and the Trustee agree as follows:


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ARTICLE I


DEFINITIONS



          Section
1.01          Defined
Terms.



                    Whenever
used in this Agreement, including in the Preliminary Statement, the following
words and phrases, unless the context otherwise requires, shall have the
meanings specified in this Article.


                    “30/360 Basis”:  The accrual of interest calculated on the basis of a 360-day year consisting of twelve 30-day months.


                    “611 West 6 th Street Intercreditor Agreement”: The Intercreditor Agreement, dated as of May [__], 2007, by and between Wachovia Bank, National Association and MW1-2002, LLC, relating to the 611 West 6th Street Whole Loan.


                    “611 West 6th Street Loan”: That certain Mortgage Loan which is included in the Trust Fund (identified as loan number 21 on the Mortgage Loan Schedule).


                    “611 West 6th Street Subordinate Companion Loan”: That certain mortgage loan evidenced by a note, which is not an asset of the Trust Fund, secured by the Mortgaged Property securing the 611 West 6th Street Loan and subordinate in right of entitlement to the 611 West 6th Street Loan.


                    “611 West 6th Street Whole Loan”: The 611West 6th Street Loan, together with the 611West 6th Street Subordinate Companion Loan.


                    “666 Fifth Avenue Loan”:  That certain Mortgage Loan (comprised of two pari passu mortgage loans, each of which is evidenced by a note) which is included in the Trust Fund (identified as loan number 3 on the Mortgage Loan Schedule).


                    “666 Fifth Avenue Pari Passu Companion Loans”:  Those certain mortgage loans, each of which is evidenced by a note, which are not assets of the Trust Fund, secured by the Mortgaged Property securing the 666 Fifth Avenue Loan and pari passu in right of entitlement with the 666 Fifth Avenue Loan.


                    “666 Fifth Avenue Pari Passu Intercreditor Agreement”:  The Co-Lender Agreement, dated as of January 11, 2007, by and among Barclays Capital Real Estate Inc. and UBS Real Estate Investments Inc. relating to the 666 Fifth Avenue Whole Loan.


                    “666 Fifth Avenue Whole Loan”:  The 666 Fifth Avenue Loan, together with the 666 Fifth Avenue Pari Passu Companion Loans.


                    “1603 North 35th Street Loan”:  That certain Mortgage Loan which is included in the Trust Fund (identified as loan number 133 on the Mortgage Loan Schedule). 



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                    “2007-C30 Controlling Class Representative”:  The “Controlling Class Representative” as defined in the 2007-C30 Pooling and Servicing Agreement.


                    “2007-C30 Depositor”:  As defined in the Preliminary Statement.


                    “2007-C30 Majority Subordinate Certificateholder”:  The “Majority Subordinate Certificateholder” as defined in the 2007-C30 Pooling and Servicing Agreement.


                    “2007-C30 Master Servicer”:  As defined in the Preliminary Statement.


                    “2007-C30 Mortgage Loan Purchase Agreement”:  The “Mortgage Loan Purchase Agreement” as defined in the 2007-C30 Pooling and Servicing Agreement.


                    “2007-C30 Pooling and Servicing Agreement”:  As defined in the Preliminary Statement.


                    “2007-C30 Serviced Mortgage Loans”:  The Five Times Square Loan and the Peter Cooper Village & Stuyvesant Town Loan.


                    “2007-C30 Special Servicer”:  As defined in the Preliminary Statement.


                    “2007-C30 Trust Fund”:  As defined in the Preliminary Statement.


                    “2007-C30 Trustee”:  As defined in the Preliminary Statement.


                    “14700 Lee Road Loan”:  That certain Mortgage Loan which is included in the Trust Fund (identified as loan number 65 on the Mortgage Loan Schedule).


                    “Accrued Certificate Interest”:  With respect to any Class of Regular Certificates (other than the Class IO Certificates) and the Class A-5FL Regular Interest for any Distribution Date, one month’s interest at the Pass-Through Rate applicable to such Class of Certificates and the Class A-5FL Regular Interest for such Distribution Date, accrued for the related Interest Accrual Period on the related Class Principal Balance outstanding immediately prior to such Distribution Date; with respect to the Class IO Certificates for any Distribution Date the sum of the Accrued Component Interest for the related Interest Accrual Period for all of the Components for such Distribution Date.  Accrued Certificate Interest shall be calculated on a 30/360 Basis and, with respect to any Class of Regular Certificates (other than
Class A-5FL Certificates ) and the Class A-5FL Regular Interest for any Distribution Date, shall be deemed to accrue during the calendar month preceding the month in which such Distribution Date occurs.  Accrued Certificate Interest with respect to the Class A-5FL Regular Interest shall be calculated on an Actual/360 Basis, and for any Distribution Date, shall be deemed to accrue during the period from and including the Distribution Date in the month preceding the month in which the related Distribution Date occurs (or in the case of the first Distribution Date, the Closing Date) to but excluding the related Distribution Date; provided, however, that if a Class A-5FL Distribution Conversion has occurred, Accrued Certificate Interest with respect to the Class A-5FL Certificates shall be the same as for the Class A-5FL Regular Interest.



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                    “Accrued Component Interest”:  With respect to each Component of the Class IO Certificates for any Distribution Date, one month’s interest at the Strip Rate applicable to such Component for such Distribution Date, accrued on the Component Notional Amount of such Component outstanding immediately prior to such Distribution Date.  Accrued Component Interest shall be calculated on a 30/360 Basis and, with respect to any Component and any Distribution Date, shall be deemed to accrue during the calendar month preceding the month in which such Distribution Date occurs.


                    “Acquisition Date”:  With respect to any REO Property, the first day on which such REO Property is considered to be acquired by the Trust Fund within the meaning of Treasury Regulations Section 1.856-6(b)(1), which is the first day on which the Trust Fund is treated as the owner of such REO Property for federal income tax purposes.


                    “Actual/360 Basis”:  The accrual of interest calculated on the basis of the actual number of days elapsed during any calendar month in a year assumed to consist of 360 days.


                    “Actual/360 Mortgage Loan”:  Each Mortgage Loan that accrues interest on an Actual/360 Basis and that is identified as an Actual/360 Mortgage Loan on the Mortgage Loan Schedule.


                    “Additional Disclosure Notification”:  The form of notification, which is attached hereto as Exhibit V, to be included with any Additional Form 10-D Disclosure, Additional Form 10-K Disclosure or Form 8-K Disclosure Information.


                    “Additional Form 10-D Disclosure”:  As defined in Section 8.17(i).


                    “Additional Form 10-K Disclosure”:  As defined in Section 8.17(k).


                    “Additional Interest”:  With respect to any ARD Loan after its Anticipated Repayment Date, all interest accrued on the principal balance of such ARD Loan at the Additional Interest Rate (the payment of which interest shall, under the terms of such Mortgage Loan, be deferred until the entire outstanding principal balance of such ARD Loan has been paid), together with all interest, if any, accrued at the related Mortgage Rate on such deferred interest.  For purposes of this Agreement, Additional Interest on an ARD Loan or any successor REO Loan shall be deemed not to constitute principal or any portion thereof and shall not be added to the unpaid principal balance or Stated Principal Balance of such ARD Loan or successor REO Loan, notwithstanding that the terms of the related Mortgage Loan documents so permit.  To
the extent that any Additional Interest is not paid on a current basis, it shall be deemed to be deferred interest.


                    “Additional Interest Account”:  The segregated account, accounts or subaccounts created and maintained by the Trustee pursuant to Section 3.04(d) which shall be entitled “Wells Fargo Bank, N.A., as Trustee, in trust for the registered holders of Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2007-C31, Additional Interest Account.”  The Additional Interest Account shall not be an asset of either REMIC I or REMIC II.



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                    “Additional Interest Grantor Trust”:  That certain “grantor trust” (within the meaning of the Grantor Trust Provisions), the assets of which are the Additional Interest Grantor Trust Assets.


                    “Additional Interest Grantor Trust Assets”:  The segregated pool of assets consisting of (i) any Additional Interest with respect to the ARD Loans after their respective Anticipated Repayment Dates and (ii) amounts held from time to time in the Additional Interest Account.


                    “Additional Interest Rate”:  With respect to any ARD Loan after its Anticipated Repayment Date, the incremental increase in the per annum rate at which such Mortgage Loan accrues interest after the Anticipated Repayment Date (in the absence of defaults) as calculated and as set forth in the related Mortgage Loan documents.


                    “Additional Servicer”:  Each Affiliate of the Master Servicer that services any of the Mortgage Loans and each Person who is not an Affiliate of the Master Servicer, other than the Special Servicer or the Trustee, who services 10% or more of the Mortgage Loans.


                    “Additional Trust Fund Expense”:  Any Special Servicing Fees, Workout Fees, Liquidation Fees and, in accordance with Sections 3.03(d) and 4.03(d), interest payable to the Master Servicer and/or the Trustee on Advances (to the extent not offset by Penalty Interest and late payment charges), the cost of contracting with a Determination Party as set forth in Section 2.03 and amounts payable to the Special Servicer in connection with inspections of Mortgaged Properties required pursuant to the first sentence of Section 3.12(a) (and not otherwise paid from Penalty Interest and late payment charges), as well as (without duplication) any of the expenses of the Trust Fund that may be withdrawn (x) pursuant to any of clauses (ix), (x), (xiii), (xiv), (xv) and (xxi) of Section 3.05(a) out of general
collections on the Mortgage Loans and any REO Properties on deposit in the Certificate Account or (y) pursuant to clause (ii) or any of clauses (iv) through (vi) of Section 3.05(b) out of general collections on the Mortgage Loans and any REO Properties on deposit in the Distribution Account; provided that for purposes of the allocations contemplated by Section 4.04, no such expense shall be deemed to have been incurred by the Trust Fund until such time as the payment thereof is actually made from the Certificate Account or the Distribution Account, as the case may be.


                    “Additional Yield Amount”:  (a) With respect to any Distribution Date and any Class of Regular Certificates (other than the Class IO Certificates and any Excluded Class) and the Class A-5FL Regular Interest entitled to distributions of principal with respect to Loan Group 1 pursuant to Section 4.01(a) on such Distribution Date; provided that a Yield Maintenance Charge and/or Prepayment Premium was actually collected on a Mortgage Loan or an REO Loan in such Loan Group during the related Collection Period, the product of (a) such Yield Maintenance Charge and/or Prepayment Premium multiplied by (b) a fraction, which in no event will be greater than one, the numerator of which is equal to the positive excess, if any, of (i) the Pass-Through Rate for such Class of Regular Certificates or


the Class A-5FL Regular Interest then receiving principal over (ii) the related Discount Rate, and the denominator of which is equal to the positive excess, if any, of (i) the Mortgage Rate for such Mortgage Loan or REO Loan, as the case may be, over (ii) the related Discount Rate, multiplied by (c) a fraction, the numerator of which is equal to the amount of principal distributable on such Class of Regular



-8-









Certificates or the Class A-5FL Regular Interest on such Distribution Date pursuant to Section 4.01(a) with respect to Loan Group 1, and the denominator of which is equal to the Loan Group 1 Principal Distribution Amount for such Distribution Date. 

	
  
 
  	
  
          (b)
          With respect to any
Distribution Date and any Class of Regular Certificates (other than the
Class IO Certificates and any Excluded Class) and the Class A-5FL Regular
Interest entitled to distributions of principal with respect to Loan Group 2
pursuant to Section 4.01(a) on such Distribution Date; provided that
a Yield Maintenance Charge and/or Prepayment Premium was actually collected on a
Mortgage Loan or an REO Loan in such Loan Group during the related Collection
Period, the product of (a) such Yield Maintenance Charge and/or Prepayment
Premium multiplied by (b) a fraction, which in no event will be
greater than one, the numerator of which is equal to the positive excess, if
any, of (i) the Pass-Through Rate for such Class of Regular Certificates or
the Class A-5FL Regular Interest then receiving principal over (ii) the
related Discount Rate, and the denominator of which is equal to the positive
excess, if any, of (i) the Mortgage Rate for such Mortgage Loan or REO
Loan, as the case may be, over (ii) the related Discount Rate,
multiplied by (c) a fraction, the numerator of which is equal to the
amount of principal distributable on such Class of Regular Certificates or the
Class A-5FL Regular Interest on such Distribution Date pursuant to
Section 4.01(a) with respect to Loan Group 2, and the denominator of which
is equal to the Loan Group 2 Principal Distribution Amount for such Distribution
Date.
 
	
   
  	
  
 
  
	
  
 
  	
  

          (c)          For
purposes of the foregoing, to the extent that payments of principal on any Class
of Regular Certificates (other than the Class IO Certificates and any
Excluded Class) or the Class A-5FL Regular Interest could be made from principal
amounts allocable to Loan Group 1 or principal amounts allocable to Loan Group
2, the Trustee shall assume that those payments of principal on that Class of
Regular Certificates or the Class A-5FL Regular Interest are made from amounts
allocable to each Loan Group, on a pro rata basis in accordance with the
respective amounts allocable to each Loan Group that were available for payment
on that Class of Certificates or the Class A-5FL Regular Interest.






                    “Advance”:  Any P&I Advance or Servicing Advance.


                    “Adverse Grantor Trust Event”:  As defined in Section 10.02(g).


                    “Adverse REMIC Event”:  As defined in Section 10.01(h).


                    “Affiliate”:  With respect to any specified Person, any other Person controlling or controlled by or under common control with such specified Person.  For the purposes of this definition, “control” when used with respect to any specified Person means the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise and the terms “controlling” and “controlled” have meanings correlative to the foregoing.


                    “Agreement”:  This Pooling and Servicing Agreement and all amendments hereof and supplements hereto.


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                    “Anticipated Repayment Date”:  For each ARD Loan, the date specified in the related Mortgage Note after which the Mortgage Rate for such ARD Loan will increase as specified in the related Mortgage Note (other than as a result of a default thereunder).


                    “Appraisal”:  With respect to any Mortgage Loan, an appraisal of the related Mortgaged Property from an Independent Appraiser selected by the Special Servicer or the Master Servicer prepared in accordance with 12 CFR §225.62 and conducted in accordance with the standards of the American Appraisal Institute by an Independent Appraiser which Independent Appraiser shall be advised to take into account the factors specified in Section 3.09(a), any available environmental, engineering or other third party reports, and other factors that a prudent real estate appraiser would consider.


                    “Appraisal Reduction Amount”:  The excess, if any, of (a) the sum of (without duplication), as calculated by the Special Servicer as of the first Determination Date immediately succeeding the Special Servicer obtaining knowledge of the occurrence of the Required Appraisal Date if no new Required Appraisal is required or the date on which a Required Appraisal (or letter update or internal valuation, if applicable) is obtained and each Determination Date thereafter so long as the related Mortgage Loan remains a Required Appraisal Mortgage Loan (i) the Stated Principal Balance of the subject Required Appraisal Mortgage Loan and any related Companion Loans related thereto, (ii) to the extent not previously advanced by or on behalf of the Master Servicer or the Trustee, all unpaid interest on the Required Appraisal


Mortgage Loan (including, for such purposes, any related Pari Passu Companion Loan or any related Subordinate Companion Loan serviced hereunder) through the most recent Due Date prior to such Determination Date at a per annum rate equal to the related Net Mortgage Rate and the related fixed annualized rate of interest scheduled to accrue for the related Companion Loans (exclusive of any portion thereof that constitutes Additional Interest), (iii) all accrued but unpaid Servicing Fees and all accrued but unpaid Additional Trust Fund Expenses in respect of such Required Appraisal Mortgage Loan and any related Companion Loans, plus, with respect to any Pari Passu Companion Loan (other than the Non-Serviced Companion Loans), any similar fees and expenses, (iv) all related unreimbursed Advances and any Advances related to such Required Appraisal Mortgage Loan (including, for such purposes, any related Pari Passu Companion Loan or any related Subordinate Companion Loan serviced hereunder)
that were reimbursed out of general collections from the pool of Mortgage Loans (plus accrued interest thereon) made by or on behalf of the Master Servicer or the Trustee with respect to such Required Appraisal Mortgage Loan and (v) all currently due and unpaid real estate taxes and unfunded improvement reserves and assessments, insurance premiums, and, if applicable, ground rents in respect of the related Mortgaged Property over (b) an amount equal to the sum of (i) the Required Appraisal Value and (ii) all escrows, reserves and letters of credit held for the purposes of reserves (provided such letters of credit may be drawn upon for reserve purposes under the related Mortgage Loan documents) held with respect to such Required Appraisal Mortgage Loan.  If the Special Servicer fails to obtain a Required Appraisal (or letter update or internal valuation, if applicable) within the time limit described in Section 3.09(a), the Appraisal Reduction Amount for the related


Required Appraisal Mortgage Loan will equal 25% of the outstanding principal balance of such Required Appraisal Mortgage Loan (including, for such purposes, any related Pari Passu Companion Loan or any related Subordinate Companion Loan serviced hereunder) to be adjusted upon receipt of a Required Appraisal or letter update or internal valuation, if applicable.  In the event a Mortgagor fails to make a Balloon Payment on a


-10-









scheduled maturity date and no Appraisal has been received within 120 days of such failure, the Appraisal Reduction Amount for the related Mortgage Loan (including, for such purposes, any related Pari Passu Companion Loan or any related Subordinate Companion Loan serviced hereunder) will equal 25% of the outstanding principal balance of such Mortgage Loan (including, for such purposes, any related Pari Passu Companion Loan or any related Subordinate Companion Loan serviced hereunder), to be adjusted upon receipt of the new Appraisal.  Any Appraisal Reduction Amount for a Co-Lender Loan shall be allocated as provided in Section 4.04(d).  Notwithstanding the foregoing, any Appraisal Reduction in respect of each Non-Serviced Mortgage Loan shall be calculated by the applicable master servicer or special servicer in accordance with and pursuant to the terms of the related Non-Serviced Mortgage Loan Pooling Agreement.


                    “Appraised Value”:  With respect to each Mortgaged Property, the appraised value thereof based upon the most recent Appraisal (or letter update or internal valuation, if applicable) that is contained in the related Servicing File.


                    “ARD Loan”:  Any Mortgage Loan that provides that if the unamortized principal balance thereof is not repaid on its Anticipated Repayment Date, such Mortgage Loan will accrue Additional Interest at the rate specified in the related Mortgage Note and the Mortgagor is required to apply excess monthly cash flow generated by the related Mortgaged Property to the repayment of the outstanding principal balance on such Mortgage Loan.


                    “Asset Status Report”:  As defined in Section 3.21(d).


                    “Assignment of Leases”:  With respect to any Mortgaged Property, any assignment of leases, rents and profits or similar document or instrument executed by the Mortgagor in connection with the origination of the related Mortgage Loan.


                    “Assumed Scheduled Payment”:  With respect to any Balloon Mortgage Loan for its Stated Maturity Date (provided that such Mortgage Loan has not been paid in full and no other Liquidation Event has occurred in respect thereof on or before such Stated Maturity Date) and for any Due Date thereafter as of which such Mortgage Loan remains outstanding and part of the Trust Fund, the Periodic Payment of principal and/or interest deemed to be due in respect thereof on such Due Date that would have been due in respect of such Mortgage Loan on such Due Date if the related Mortgagor had been required to continue to pay principal in accordance with the amortization schedule, if any, and to accrue interest at the Mortgage Rate, in effect on the Closing Date and without regard to the occurrence of its Stated Maturity Date. 
With respect to any REO Loan, for any Due Date therefor as of which the related REO Property remains part of the Trust Fund, the Periodic Payment of principal and/or interest deemed to be due in respect thereof on such Due Date that would have been due in respect of the predecessor Mortgage Loan (or, if applicable, Companion Loans) on such Due Date had it remained outstanding (or, if the predecessor Mortgage Loan was a Balloon Mortgage Loan and such Due Date coincides with or follows what had been its Stated Maturity Date, the Assumed Scheduled Payment that would have been deemed due in respect of the predecessor Mortgage Loan on such Due Date had it remained outstanding).


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                    “Authenticating Agent”:  Any authenticating agent appointed pursuant to Section 8.12 (or, in the absence of any such appointment, the Trustee).


                    “Available Distribution Amount”:  With respect to any Distribution Date, an amount equal to, with respect to each Mortgage Loan, (a) the sum (including, with respect to the 2007-C30 Serviced Mortgage Loans, the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan and the GECMC 2007-C1 Serviced Mortgage Loan, any amounts remitted by or advanced pursuant to the 2007-C30 Pooling and Servicing Agreement, the Morgan Stanley 2007-IQ14 Pooling and Servicing Agreement or the GECMC 2007-C1 Pooling and Servicing Agreement, as applicable) of, without duplication, (i) the aggregate of the amounts on deposit in the Certificate Account and the Distribution Account (without regard to any payments made to or received from the Swap Counterparty) as of the close of business on the last day of the related Collection Period and the
amounts collected by or on behalf of the Master Servicer as of the close of business on the last day of such Collection Period and required to be deposited in the Certificate Account; (ii) the aggregate amount of any P&I Advances made by the Master Servicer or the Trustee for distribution on the Certificates (other than the Class A-5FL Certificates) and the Class A-5FL Regular Interest on such Distribution Date pursuant to Section 4.03; (iii) the aggregate amount transferred from the REO Account (if established) to the Certificate Account as of the last day of the related Collection Period, on or prior to the P&I Advance Date in such month, pursuant to Section 3.16(c); (iv) the aggregate amount deposited by the Master Servicer in the Certificate Account for such Distribution Date pursuant to Section 3.19 in connection with Prepayment Interest Shortfalls; and (v) for each Distribution Date occurring in March, and for the final Distribution Date if the final
Distribution Date occurs in February, the aggregate of the Interest Reserve Amounts in respect of each Interest Reserve Loan deposited into the Distribution Account pursuant to Section 3.05(d); and (vi) for the initial Distribution Date only, the Interest Shortfall Amount deposited into the Distribution Account pursuant to Section 3.05, net of (b) the portion of the amount described in subclauses (a)(i) and (a)(iii) of this definition that represents one or more of the following:  (i) collected Periodic Payments that are due on a Due Date following the end of the related Collection Period, (ii) any amounts payable or reimbursable to any Person from the (A) Certificate Account pursuant to clauses (ii)-(xvi), (xx), (xxi) and (xxiii) of Section 3.05(a) or (B) the Distribution Account pursuant to clauses (ii)-(vii) of Section 3.05(b), (iii) Prepayment Premiums and Yield Maintenance Charges, (iv) Additional Interest,
(v) with respect to the Distribution Date occurring in February of each year and in January of each year that is not a leap year (unless, in either case, the related Distribution Date is the final Distribution Date), the Interest Reserve Amounts with respect to the Interest Reserve Loans to be withdrawn from the Certificate Account and remitted to the Trustee for deposit in the Interest Reserve Account in respect of such Distribution Date and held for future distribution pursuant to Section 3.04(c), (vi) for the initial Distribution Date only and each Mortgage Loan originated in April 2007 that has its first Due Date in June 2007, any interest amounts relating to the period prior to the Cut-Off Date of such Mortgage Loan payable to the related Mortgage Loan Seller; and (vii) any amounts deposited in the Certificate Account or the Distribution Account in error.  The Available Distribution Amount will not include any amounts required to be distributed pursuant to the terms of
any Intercreditor Agreement or this Agreement to a Companion Holder.


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                    “Balloon Mortgage Loan”:  Any Mortgage Loan that by its original terms or by virtue of any modification entered into as of the Closing Date provides for an amortization schedule extending beyond its Stated Maturity Date.


                    “Balloon Payment”:  With respect to any Balloon Mortgage Loan as of any date of determination, the Scheduled Payment payable on the Stated Maturity Date of such Mortgage Loan.


                    “Bankruptcy Code”:  The federal Bankruptcy Code, as amended from time to time (Title 11 of the United States Code).


                    “BCRE”:  Barclays Capital Real Estate Inc., or its successor in interest.


                    “BCRE Mortgage Loan Purchase Agreement”:  That certain mortgage loan purchase agreement, dated as of May 1, 2007, between the Depositor and BCRE, and relating to the transfer of the BCRE Mortgage Loans to the Depositor.


                    “BCRE Mortgage Loans”:  Each of the Mortgage Loans transferred and assigned to the Depositor pursuant to the BCRE Mortgage Loan Purchase Agreement.


                    “Beacon D.C. & Seattle Pool Loan”:  That certain Mortgage Loan which is included in the Trust Fund (identified as loan number 2 on the Mortgage Loan Schedule).


                    “Beacon D.C. & Seattle Pool Pari Passu Companion Loans”:  Those certain mortgage loans, each of which is evidenced by a note, which are not assets of the Trust Fund, secured by the Mortgaged Property securing the Beacon D.C. & Seattle Pool Loan and pari passu in right of entitlement with the Beacon D.C. & Seattle Pool Loan.


                    “Beacon D.C. & Seattle Pool Pari Passu Intercreditor Agreement”:  The Intercreditor Agreement, dated as of May 23, 2007, by and among Morgan Stanley Mortgage Capital Inc., Bear Stearns Commercial Mortgage, Inc. and Wachovia Bank, N.A. relating to the Beacon D.C. & Seattle Pool Whole Loan.


                    “Beacon D.C. & Seattle Pool Whole Loan”:  The Beacon D.C. & Seattle Pool Loan, together with the Beacon D.C. & Seattle Pool Pari Passu Companion Loan.


                    “Bid Allocation”:  With respect to the Master Servicer and each Sub-Servicer and the proceeds of any bid pursuant to Section 7.01(c), the amount of such proceeds (net of any expenses incurred in connection with such bid and the transfer of servicing), multiplied by a fraction equal to (a) the Servicer Fee Amount for the Master Servicer or such Sub-Servicer, as the case may be, as of such date of determination, over (b) the aggregate of the Servicer Fee Amounts for the Master Servicer and all of the Sub-Servicers as of such date of determination.


                    “Book-Entry Certificate”:  Any Certificate registered in the name of the Depository or its nominee.


                    “Breach”:  As defined in Section 2.03(a).


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                    “Business Day”:  Any day other than a Saturday, a Sunday or a day on which banking institutions in New York, New York, or the cities in which the Corporate Trust Office of the Trustee (which as of the Closing Date is Columbia, Maryland), the offices of the Master Servicer (which as of the Closing Date is Charlotte, North Carolina) or the offices of the Special Servicer (which as of the Closing Date is Miami Beach, Florida) are located, are authorized or obligated by law or executive order to remain closed.


                    “CERCLA”:  The Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended.


                    “Certificate”:  Any one of the Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2007-C31, as executed by the Certificate Registrar and authenticated and delivered hereunder by the Authenticating Agent.


                    “Certificate Account”:  The segregated account or accounts created and maintained by the Master Servicer pursuant to Section 3.04(a) on behalf of the Trustee in trust for Certificateholders, which shall be entitled “Wachovia Bank, National Association, as Master Servicer for Wells Fargo Bank, N.A., as Trustee, on behalf of and in trust for the registered holders of Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2007-C31.”  Subject to the related Intercreditor Agreement and taking into account that (i) each Subordinate Companion Loan is subordinate to its related Co-Lender Loan to the extent set forth in the related Intercreditor Agreement, and (ii) the Pari Passu Companion Loans are pari passu with the related Co-Lender Loan, each subaccount


described in the next to last paragraph of Section 3.04(a) that is part of the Certificate Account shall be for the benefit of the related Companion Holder, to the extent funds on deposit in such subaccount are attributed to the related Companion Loan.


                    “Certificate Deferred Interest”:  The amount by which interest distributable to any Class of Sequential Pay Certificates (other than the Class A-5FL Certificates) or the Class A-5FL Regular Interest is reduced by the amount of Mortgage Deferred Interest allocable to such Class of Certificates or the Class A-5FL Regular Interest on any Distribution Date.


                    “Certificate Factor”:  With respect to any Class of Regular Certificates and the Class A-5FL Certificates as of any date of determination, a fraction, expressed as a decimal carried to eight places, the numerator of which is the then current Class Principal Balance or Class IO Notional Amount, as applicable, of such Class of Regular Certificates or the Class A-5FL Certificates and the denominator of which is the Original Class Principal Balance or Original Class IO Notional Amount of such Class of Regular Certificates or the Class A-5FL Certificates, as applicable.


                    “Certificate Notional Amount”:  With respect to any Class IO Certificate as of any date of determination, the then notional amount of such Certificate equal to the product of (a) the Percentage Interest evidenced by such Certificate, multiplied by (b) the then applicable Class IO Notional Amount.


                    “Certificate Owner”:  With respect to a Book-Entry Certificate, the Person who is the beneficial owner of such Certificate as reflected on the books of the Depository or on the books of a Depository Participant or on the books of an indirect participating brokerage firm for which a Depository Participant acts as agent.


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                    “Certificate Principal Balance”:  With respect to any Sequential Pay Certificate, as of any date of determination, the then outstanding principal amount of such Certificate equal to the product of (a) the Percentage Interest evidenced by such Certificate multiplied by (b) the then Class Principal Balance of the Class of Certificates to which such Certificate belongs. The aggregate Certificate Principal Balance of the Class A-5FL Certificates shall be equal at all times to the Class Principal Balance of the Class A-5FL Regular Interest. 


                    “Certificate Register” and “Certificate Registrar”:  The register maintained and the registrar appointed pursuant to Section 5.02.


                    “Certificateholder”:  The Person in whose name a Certificate is registered in the Certificate Register, except that (i) only a Permitted Transferee shall be the Holder of a Residual Certificate for any purpose hereof and, (ii) solely for the purposes of giving any consent, approval or waiver pursuant to this Agreement that relates to any of the Depositor, any Mortgage Loan Seller, the Master Servicer, the Special Servicer or the Trustee in its respective capacity as such (except with respect to amendments or waivers referred to in Sections 7.04 and 11.01 hereof and any consent, approval or waiver required or permitted to be made by the Majority Subordinate Certificateholder or the Controlling Class Representative and any election, removal or replacement of the Special Servicer or the Controlling Class
Representative pursuant to Section 6.09), any Certificate registered in the name of the Depositor, any Mortgage Loan Seller, the Master Servicer, the Special Servicer or the Trustee, as the case may be, or any Certificate registered in the name of any of their respective Affiliates, shall be deemed not to be outstanding, and the Voting Rights to which it is entitled shall not be taken into account in determining whether the requisite percentage of Voting Rights necessary to effect any such consent, approval or waiver that relates to it has been obtained.  The Certificate Registrar shall be entitled to request and rely upon a certificate of the Depositor, the Master Servicer or the Special Servicer in determining whether a Certificate is registered in the name of an Affiliate of such Person.  All references herein to “Holders” or “Certificateholders” shall reflect the rights of Certificate Owners as they may indirectly exercise such rights through the Depository and
the Depository Participants, except as otherwise specified herein; provided, however, that the parties hereto shall be required to recognize as a “Holder” or “Certificateholder” only the Person in whose name a Certificate is registered in the Certificate Register.


                    “Class”:  Collectively, all of the Certificates bearing the same alphabetical and, if applicable, numerical class designation and each designated REMIC I Regular Interest.


                    “Class A Certificates”:  The Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-5 and Class A-1A Certificates.


                    “Class A-1 Certificate”:  Any one of the Certificates with a “Class A-1” designation on the face thereof, substantially in the form of Exhibit A-1 attached hereto, and evidencing a “regular interest” in REMIC II for purposes of the REMIC Provisions.


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                    “Class A-1A Certificate”:  Any one of the Certificates with a “Class A-1A” designation on the face thereof, substantially in the form of Exhibit A-8 attached hereto, and evidencing a “regular interest” in REMIC II for purposes of the REMIC Provisions.


                    “Class A-2 Certificate”:  Any one of the Certificates with a “Class A-2” designation on the face thereof, substantially in the form of Exhibit A-2 attached hereto, and evidencing a “regular interest” in REMIC II for purposes of the REMIC Provisions.


                    “Class A-3 Certificate”:  Any one of the Certificates with a “Class A-3” designation on the face thereof, substantially in the form of Exhibit A-3 attached hereto, and evidencing a “regular interest” in REMIC II for purposes of the REMIC Provisions.


                    “Class A-4 Certificate”:  Any one of the Certificates with a “Class A-4” designation on the face thereof, substantially in the form of Exhibit A-5 attached hereto, and evidencing a “regular interest” in REMIC II for purposes of the REMIC Provisions.


                    “Class A-5 Certificate”:  Any one of the Certificates with a “Class A-5” designation on the face thereof, substantially in the form of Exhibit A-6 attached hereto, and evidencing a “regular interest” in REMIC II for purposes of the REMIC Provisions.


                    “Class A-5FL Available Funds”:  With respect to any Distribution Date, the sum of (i) the total amount of all principal and/or interest distributions on or in respect of the Class A-5FL Regular Interest with respect to such Distribution Date and (ii) the amounts, if any, received from the Swap Counterparty pursuant to the Swap Contract for such Distribution Date, less (iii) with respect to interest distributions, all regularly scheduled fixed interest amounts (prior to the termination of the Swap Contract or prior to the occurrence and during the continuance of a Swap Default, exclusive of any Yield Maintenance Charges or Prepayment Premiums allocated in respect of the Class A-5FL Regular Interest) required to be paid to the Swap Counterparty pursuant to the Swap Contract for such Distribution Date.


                    “Class A-5FL Certificate”:  Any one of the Certificates with a “Class A-5FL” designation on the face thereof, substantially in the form of Exhibit A-7 attached hereto, and evidencing an undivided beneficial interest in the Class A-5FL Grantor Trust.


                    “Class A-5FL Distribution Conversion”:  With respect to any Distribution Date (i) upon the occurrence and during the continuation of a Swap Default while the Trustee (or the Paying Agent on its behalf) is pursuing remedies under the Swap Contract pursuant to Section 3.30 or (ii) immediately upon and following the termination of the Swap Contract until a replacement swap contract is entered into, if any, the conversion of distributions to the Class A-5FL Certificates from distributions based, in part, on floating interest payments from the Swap Counterparty under the Swap Contract to distributions based solely on fixed interest distributions in respect of the Class A-5FL Regular Interest, as specified in Section 4.01(j).


                    “Class A-5FL Grantor Trust”:  That certain “grantor trust” (within the meaning of the Grantor Trust Provisions), the assets of which are the Class A-5FL Grantor Trust Assets.


                    “Class A-5FL Grantor Trust Assets”:  The segregated pool of assets consisting of the Class A-5FL Regular Interest, the Swap Contract, the Floating Rate Account and the proceeds thereof, the beneficial ownership of which is represented by the Class A-5FL Certificates.


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                    “Class A-5FL Interest Distribution Amount”:  With respect to any Distribution Date, an amount equal to the sum of (i) amounts in respect of interest received in respect of the Class A-5FL Regular Interest for such Distribution Date and (ii) the Floating Swap Payment, less (iii) the Fixed Swap Payment for such Distribution Date.


                    “Class A-5FL Principal Distribution Amount”:  With respect to any Distribution Date, an amount equal to the amount of principal allocated pursuant to Section 4.01(j) in respect of the Class A-5FL Regular Interest on such Distribution Date.


                    “Class A-5FL Regular Interest:”  The uncertificated interest in REMIC II, designated as “Class A-5FL”, constituting a “regular interest” in REMIC II for purposes of the REMIC Provisions and having characteristics attributable thereto in this Agreement.


                    “Class A-J Certificate”:  Any one of the Certificates with a “Class A-J” designation on the face thereof, substantially in the form of Exhibit A-10 attached hereto, and evidencing a “regular interest” in REMIC II for purposes of the REMIC Provisions.


                    “Class A-M Certificate”:  Any one of the Certificates with a “Class A-M” designation on the face thereof, substantially in the form of Exhibit A-9 attached hereto, and evidencing a “regular interest” in REMIC II for purposes of the REMIC Provisions.


                    “Class A-PB Certificate”:  Any one of the Certificates with a “Class A-PB” designation on the face thereof, substantially in the form of Exhibit A-4 attached hereto, and evidencing a “regular interest” in REMIC II for purposes of the REMIC Provisions.


                    “Class A-PB Planned Principal Balance”:  The planned principal amount set forth on Exhibit R hereto relating to principal payments for the Class A-PB Certificates.


                    “Class B Certificate”:  Any one of the Certificates with a “Class B” designation on the face thereof, substantially in the form of Exhibit A-11 attached hereto, and evidencing a “regular interest” in REMIC II for purposes of the REMIC Provisions.


                    “Class C Certificate”:  Any one of the Certificates with a “Class C” designation on the face thereof, substantially in the form of Exhibit A-12 attached hereto, and evidencing a “regular interest” in REMIC II for purposes of the REMIC Provisions.


                    “Class D Certificate”:  Any one of the Certificates with a “Class D” designation on the face thereof, substantially in the form of Exhibit A-13 attached hereto, and evidencing a “regular interest” in REMIC II for purposes of the REMIC Provisions.


                    “Class E Certificate”:  Any one of the Certificates with a “Class E” designation on the face thereof, substantially in the form of Exhibit A-14 attached hereto, and evidencing a “regular interest” in REMIC II for purposes of the REMIC Provisions.


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                    “Class F Certificate”:  Any one of the Certificates with a “Class F” designation on the face thereof, substantially in the form of Exhibit A-15 attached hereto, and evidencing a “regular interest” in REMIC II for purposes of the REMIC Provisions.


                    “Class G Certificate”:  Any one of the Certificates with a “Class G” designation on the face thereof, substantially in the form of Exhibit A-16 attached hereto, and evidencing a “regular interest” in REMIC II for purposes of the REMIC Provisions.


                    “Class H Certificate”:  Any one of the Certificates with a “Class H” designation on the face thereof, substantially in the form of Exhibit A-17 attached hereto, and evidencing a “regular interest” in REMIC II for purposes of the REMIC Provisions.


                    “Class IO Certificate”:  Any one of the Certificates with a “Class IO” designation on the face thereof, substantially in the form of Exhibit A-29 attached hereto, and evidencing a “regular interest” in REMIC II for purposes of the REMIC Provisions.


                    “Class IO Notional Amount”:  With respect to the Class IO Certificates and any date of determination, the sum of the then Component Notional Amounts of all of the Components.


                    “Class IO Strip Rate”:  With respect to any Class of Components for any Distribution Date, a rate per annum equal to (i) the Weighted Average Net Mortgage Rate for such Distribution Date, minus (ii) the Pass-Through Rate for the Corresponding Certificates.  


                    “Class J Certificate”:  Any one of the Certificates with a “Class J” designation on the face thereof, substantially in the form of Exhibit A-18 attached hereto, and evidencing a “regular interest” in REMIC II for purposes of the REMIC Provisions.


                    “Class K Certificate”:  Any one of the Certificates with a “Class K” designation on the face thereof, substantially in the form of Exhibit A-19 attached hereto, and evidencing a “regular interest” in REMIC II for purposes of the REMIC Provisions.


                    “Class L Certificate”:  Any one of the Certificates with a “Class L” designation on the face thereof, substantially in the form of Exhibit A-20 attached hereto, and evidencing a “regular interest” in REMIC II for purposes of the REMIC Provisions.


                    “Class M Certificate”:  Any one of the Certificates with a “Class M” designation on the face thereof, substantially in the form of Exhibit A-21 attached hereto, and evidencing a “regular interest” in REMIC II for purposes of the REMIC Provisions.


                    “Class N Certificate”:  Any one of the Certificates with a “Class N” designation on the face thereof, substantially in the form of Exhibit A-22 attached hereto, and evidencing a “regular interest” in REMIC II for purposes of the REMIC Provisions.


                    “Class O Certificate”:  Any one of the Certificates with a “Class O” designation on the face thereof, substantially in the form of Exhibit A-23 attached hereto, and evidencing a “regular interest” in REMIC II for purposes of the REMIC Provisions.


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                    “Class P Certificate”:  Any one of the Certificates with a “Class P” designation on the face thereof, substantially in the form of Exhibit A-24 attached hereto, and evidencing a “regular interest” in REMIC II for purposes of the REMIC Provisions.


                    “Class Principal Balance”:  The aggregate principal balance of any Class of Sequential Pay Certificates or the Class A-5FL Regular Interest outstanding from time to time.  As of the Closing Date, the Class Principal Balance of each Class of Sequential Pay Certificates or the Class A-5FL Regular Interest shall equal the Original Class Principal Balance thereof.  On each Distribution Date, the Class Principal Balance of each such Class of Certificates shall be reduced by the amount of any distributions of principal made thereon on such Distribution Date pursuant to Section 4.01 or 9.01, as applicable, and shall be further reduced by the amount of any Realized Losses and Additional Trust Fund Expenses allocated thereto on such Distribution Date pursuant to Section 4.04(a).  The Class Principal Balance of any
Class of Sequential Pay Certificates or the Class A-5FL Regular Interest will be increased on any Distribution Date by the amount of any Certificate Deferred Interest allocated to such Class on such Distribution Date.  Distributions in respect of a reimbursement of Realized Losses and Additional Trust Fund Expenses previously allocated to a Class of Sequential Pay Certificates or the Class A-5FL Regular Interest shall not constitute distributions of principal and shall not result in reduction of the related Class Principal Balance. The Class Principal Balance of the Class A-5FL Certificates shall be equal at all times to the Class Principal Balance of the Class A-5FL Regular Interest. 


                    “Class Q Certificate”:  Any one of the Certificates with a “Class Q” designation on the face thereof, substantially in the form of Exhibit A-25 attached hereto, and evidencing a “regular interest” in REMIC II for purposes of the REMIC Provisions.


                    “Class R-I Certificate”:  Any one of the Certificates with a “Class R-I” designation on the face thereof, substantially in the form of Exhibit A-30 attached hereto, and evidencing the sole class of residual interests in REMIC I for purposes of the REMIC Provisions.


                    “Class R-II Certificate”:  Any one of the Certificates with a “Class R-II” designation on the face thereof, substantially in the form of Exhibit A-31 attached hereto, and evidencing the sole class of “residual interests” in REMIC II for purposes of the REMIC Provisions.


                    “Class S Certificate”:  Any one of the Certificates with a “Class S” designation on the face thereof, substantially in the form of Exhibit A-26 attached hereto, and evidencing a “regular interest” in REMIC II for purposes of the REMIC Provisions.


                    “Class T Certificate”:  Any one of the Certificates with a “Class T” designation on the face thereof, substantially in the form of Exhibit A-27 attached hereto, and evidencing a “regular interest” in REMIC II for purposes of the REMIC provisions.


                    “Class  U Certificate”:  Any one of the Certificates with a “Class T” designation on the face thereof, substantially in the form of Exhibit A-28 attached hereto, and evidencing a “regular interest” in REMIC II for purposes of the REMIC provisions.


                    “Class Z Certificate”:  Any one of the Certificates with a “Class Z” designation on the face thereof, substantially in the form of Exhibit A-32 attached hereto, and evidencing an undivided beneficial interest in the Additional Interest Grantor Trust that is described in Section 4.01(b).


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                    “Closing Date”:  May 23, 2007.


                    “CMSA”:  The Commercial Mortgage Securities Association (formerly the Commercial Real Estate Secondary Market and Securitization Association) or any successor organization.


                    “CMSA Advance Recovery Report”:  The report substantially in the form of, and containing the information called for in, the downloadable form of the “Advance Recovery Report” available as of the Closing Date on the CMSA Website, or such other form for the presentation of such information and containing such additional information as may from time to time be approved by the CMSA for commercial mortgage securities transactions generally.


                    “CMSA Bond File”:  The monthly report substantially in the form of, and containing the information called for in, the downloadable form of the “CMSA Bond Level File” available as of the Closing Date on the CMSA Website, or such other form for the presentation of such information and containing such additional information as may from time to time be approved by the CMSA for commercial mortgage securities transactions generally.


                    “CMSA Collateral Summary File”:  The report substantially in the form of, and containing the information called for in, the downloadable form of the “Collateral Summary File” available as of the Closing Date on the CMSA Website, or such other form for the presentation of such information and containing such additional information as may from time to time be approved by the CMSA for commercial mortgage securities transactions generally.


                    “CMSA Comparative Financial Status Report”:  The report substantially in the form of, and containing the information called for in, the downloadable form of the “Comparative Financial Status Report” available as of the Closing Date on the CMSA Website, or such other form for the presentation of such information as may from time to time be approved by the CMSA for commercial mortgage securities transactions generally.  In connection with preparing the CMSA Comparative Financial Status Report, the Master Servicer shall process (a) interim financial statements beginning with interim financial statements for the fiscal quarter ending September 30, 2007, and (b) annual financial statements beginning with annual financial statements for the 2008 fiscal year.


                    “CMSA Delinquent Loan Status Report”:  The report substantially in the form of, and containing the information called for in, the downloadable form of the “Delinquent Loan Status Report” available as of the Closing Date on the CMSA Website, or such other form for the presentation of such information and containing such additional information as may from time to time be approved by the CMSA for commercial mortgage securities transactions generally.


                    “CMSA Financial File”:  The report substantially in the form of, and containing the information called for in, the downloadable form of the “Financial File” available as of the Closing Date on the CMSA Website, or such other form for the presentation of such information and containing such additional information as may from time to time be approved by the CMSA for commercial mortgage securities transactions generally.


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                    “CMSA Historical Loan Modification and Corrected Mortgage Loan Report”:  A report substantially in the form of, and containing the information called for in, the downloadable form of the “Historical Loan Modification and Corrected Mortgage Loan Report” available as of the Closing Date on the CMSA Website, or such other form for the presentation of such information and containing such additional information as may from time to time be approved by the CMSA for commercial mortgage securities transactions generally.


                    “CMSA Loan Level Reserve/LOC Report”:  The report substantially in the form of, and containing the information called for in, the downloadable form of the “CMSA Loan Level Reserve/LOC Report” available as of the Closing Date on the CMSA Website, or such other form for the presentation of such information as may from time to time be approved by the CMSA for commercial mortgage securities transactions generally.


                    “CMSA Loan Periodic Update File”:  The monthly report substantially in the form of, and containing the information called for in, the downloadable form of the “Loan Periodic Update File” available as of the Closing Date on the CMSA Website, or such other form for the presentation of such information and containing such additional information as may from time to time be approved by the CMSA for commercial mortgage securities transactions generally.


                    “CMSA Loan Setup File”:  The report substantially in the form of, and containing the information called for in, the downloadable form of the “Loan Setup File” available as of the Closing Date on the CMSA Website, or such other form for the presentation of such information and containing such additional information as may from time to time be approved by the CMSA for commercial mortgage securities transactions generally.


                    “CMSA NOI Adjustment Worksheet”:  A report substantially in the form of, and containing the information called for in, the downloadable form of the “NOI Adjustment Worksheet” available as of the Closing Date on the CMSA Website, or such other form for the presentation of such information and containing such additional information as may from time to time be approved by the CMSA for commercial mortgage securities transactions and in any event, shall present the computations made in accordance with the methodology described in such form to “normalize” the full year net operating income and debt service coverage numbers used in the other reports required by this Agreement.


                    “CMSA Operating Statement Analysis”:  A report substantially in the form of, and containing the information called for in, the downloadable form of the “Operating Statement Analysis Report” available as of the Closing Date on the CMSA Website or in such other form for the presentation of such information and containing such additional information as may from time to time be approved by the CMSA for commercial mortgage-backed securities transactions generally.  In connection with preparing the CMSA Operating Statement Analysis, the Master Servicer shall process (a) interim financial statements beginning with interim financial statements for the fiscal quarter ending September 30, 2007 and (b) annual financial statements beginning with annual financial statements for the 2008 fiscal year.


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                    “CMSA Property File”:  A report substantially in the form of, and containing the information called for in, the downloadable form of the “Property File” available as of the Closing Date on the CMSA Website, or such other form for the presentation of such information and containing such additional information as may from time to time be approved by the CMSA for commercial mortgage securities transactions generally.


                    “CMSA Reconciliation of Funds Report”:  The monthly report in the “Reconciliation of Funds” format substantially in the form of and containing the information called for therein for the Mortgage Loans, or such other form for the presentation of such information as may be approved from time to time by the CMSA for commercial mortgage securities transactions generally.


                    “CMSA REO Status Report”:  A report substantially in the form of, and containing the information called for in, the downloadable form of the “REO Status Report” available as of the Closing Date on the CMSA Website, or in such other form for the presentation of such information and containing such additional information as may from time to time be approved by the CMSA for commercial mortgage securities transactions generally.


                    “CMSA Servicer Watchlist/Portfolio Review Guidelines”:  For any Determination Date, a report substantially in the form of, and containing the information called for in, the downloadable form of the “Servicer Watchlist/Portfolio Review Guidelines” available as of the Closing Date on the CMSA Website, or in such other final form for the presentation of such information and containing such additional information as may from time to time be promulgated as approved by the CMSA for commercial mortgage securities transactions generally.


                    “CMSA Special Servicer Loan File”:  The monthly report substantially in the form of, and containing the information called for in, the downloadable form of the “Special Servicer Loan File” available as of the Closing Date on the CMSA Website, or such other form for the presentation of such information and containing such additional information as may from time to time be recommended by the CMSA for commercial mortgage securities transactions generally and is reasonably acceptable to the Special Servicer.


                    “CMSA Total Loan Report”:  A monthly report substantially in the form of, and containing the information called for in, the downloadable form of the “Total Loan Report” available as of the Closing Date on the CMSA Website, or in such other form for the presentation of such information and containing such additional information as may from time to time be approved by the CMSA for commercial mortgage securities transactions generally.


                    “CMSA Website”:  The website maintained by the CMSA with an address, as of the Closing Date, of “www.cmbs.org”.


                    “Code”:  The Internal Revenue Code of 1986, as amended, and applicable temporary or final regulations of the U.S. Department of the Treasury promulgated thereunder.


                    “Co-Lender Loans”:  As defined in the Preliminary Statement.


                    “Collection Period”:  With respect to any Distribution Date, the period that begins on the twelfth day in the month immediately preceding the month in which such Distribution Date occurs (or, in the case of the initial Distribution Date, commencing on the day after the


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related Cut-Off Date) and ending on and including the eleventh day in the month in which such Distribution Date occurs.  Notwithstanding the foregoing, in the event that the last day of a Collection Period is not a Business Day, any Periodic Payments or Principal Prepayments with respect to the Mortgage Loans relating to a Due Date occurring in such Collection Period (but for the application of the next Business Day convention) received on the Business Day immediately following such day will be deemed to have been received during such Collection Period and not during any other Collection Period.  In addition, notwithstanding the foregoing, with respect to any Distribution Date, in the event that the Due Date, including any grace period, with respect to any Mortgage Loan relating to such Distribution Date occurs after the last day of the related Collection Period, any payments received with respect to the related Mortgage Loan on or before such Due Date
as extended by any applicable grace period (including without limitation, any prepayments) will be deemed to have been received during such Collection Period and not during any other Collection Period.


                    “Commission”:  The Securities and Exchange Commission or any successor agency.


                    “Companion Distribution Account”:  With respect to the Companion Loans, other than the Non-Serviced Companion Loan, the separate account(s) or subaccount(s) created and maintained by the Companion Paying Agent pursuant to Section 3.04(b) and held on behalf of the Companion Holders, which shall be entitled “Wachovia Bank, National Association, as Companion Paying Agent for the Companion Holders of the Companion Loans relating to the Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2007-C31.”  The Companion Distribution Accounts shall not be assets of the Trust Fund, but instead each Companion Distribution Account shall be held by the Companion Paying Agent on behalf of the applicable Companion Holder.  Any such account shall be an Eligible Account or a
subaccount of an Eligible Account.  Notwithstanding the foregoing, if the Master Servicer and the Companion Paying Agent are the same entity, the Companion Distribution Account may be the related subaccount or subaccounts of the Certificate Account referenced in the second to the last paragraph of Section 3.04(a).


                    “Companion Holder”:  With respect to any Companion Loan, the owner of the Mortgage Note representing such Companion Loan.  As of the Closing Date, the Companion Holders of the Companion Loans are (i)  the trust fund created under the 2007-C30 Pooling and Servicing Agreement, with respect to the Peter Cooper Village & Stuyvesant Town Pari Passu A-1 Companion Loan, (ii) Wachovia, with respect to the Peter Cooper Village & Stuyvesant Town Pari Passu A-2 Companion Loan, (iii) Wachovia, with respect to the Peter Cooper Village & Stuyvesant Town Pari Passu A-4 Companion Loan, (iv) the trust fund created under the ML-CFC 2007-5 Pooling and Servicing Agreement, with respect to the Peter Cooper Village & Stuyvesant Town Pari Passu A-5 Companion Loan, (v) Merrill Lynch Mortgage Lending, Inc., with
respect to the Peter Cooper Village & Stuyvesant Town Pari Passu A-6 Companion Loan, (vi) the trust fund created under the 2007-C30 Pooling and Servicing Agreement, with respect to the Five Times Square Pari Passu Companion Loan, (vii) Wachovia, with respect to the Five Times Square Subordinate Companion Loan, (viii) the trust fund created under the GECMC 2007-C1 Pooling and Servicing Agreement, with respect to two of the 666 Fifth


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Avenue Pari Passu Companion Loans, (ix) BCRE, with respect to two of the 666 Fifth Avenue Pari Passu Companion Loans, (x) UBS Real Estate Investments Inc., with respect to two of the 666 Fifth Avenue Pari Passu Companion Loans, (xi) Morgan Stanley Mortgage Capital Inc., with respect to the Beacon D.C. & Seattle Pool Pari Passu A-1 Companion Loan, (xii) Bear Stearns Commercial Mortgage, Inc., with respect to the Beacon D.C. & Seattle Pool Pari Passu A-2 Companion Loan, (xiii) Wachovia, with respect to the Los Angeles International Jewelry Center Subordinate Companion Loan, (xiv) Nomura, with respect to the Lembi Pool Subordinate Companion Loan, (xv) Wachovia, with respect to the 611 West 6th Street Subordinate Companion Loan, (xvi) Nomura, with respect to the Wynn Palms Apartments Subordinate Companion Loan, (xvii) Arbor Realty, with respect to the Doubletree Hotel – Tucson, AZ Subordinate Companion Loan, (xviii) Nomura, with respect to the
Quail Creek Subordinate Companion Loan and (xix) Nomura, with respect to the Rancho Vista Apartments Subordinate Companion Loan.


                    “Companion Loan”:  As defined in the Preliminary Statement.


                    “Companion Paying Agent”:  The paying agent appointed pursuant to Section 3.26.


                    “Companion Register”:  The register maintained by the Companion Paying Agent pursuant to Section 3.27.


                    “Component”:  Each of Component IO-A-1, Component IO-A-2, Component IO-A-3, Component IO-A-PB, Component IO-A-4, Component IO-A-5, Component IO-A-1A, Component IO-A-M, Component IO-A-J, Component IO-B, Component IO-C, Component IO-D, Component IO-L, Component IO-M, Component IO-N, Component IO-O, Component IO-P, Component IO-Q, Component IO-S, Component IO-T and Component IO-U.


                    “Component Notional Amount”:  With respect to Class IO Component and any date of determination, an amount equal to the then REMIC I Principal Balance of its Corresponding REMIC I Regular Interest.


                    “Component IO-A-1”:  One of 21 components of the Class IO Certificates having a Component Notional Amount equal to the then current REMIC I Principal Balance of REMIC I Regular Interest LA-1-1 as of any date of determination.


                    “Component IO-A-1A”:  One of 21 components of the Class IO Certificates having a Component Notional Amount equal to the then current REMIC I Principal Balance of REMIC I Regular Interest LA-1A as of any date of determination.


                    “Component IO-A-2”:  One of 21 components of the Class IO Certificates having a Component Notional Amount equal to the then current REMIC I Principal Balance of REMIC I Regular Interest LA-2 as of any date of determination.


                    “Component IO-A-3”:  One of 21 components of the Class IO Certificates having a Component Notional Amount equal to the then current REMIC I Principal Balance of REMIC I Regular Interest LA-3 as of any date of determination.


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                    “Component IO-A-4”:  One of 21 components of the Class IO Certificates having a Component Notional Amount equal to the then current REMIC I Principal Balance of REMIC I Regular Interest LA-4 as of any date of determination.


                    “Component IO-A-5”:  One of 21 components of the Class IO Certificates having a Component Notional Amount equal to the then current REMIC I Principal Balance of REMIC I Regular Interest LA-5 as of any date of determination.


                    “Component IO-A-J”:  One of the 21 components of the Class IO Certificates having a Component Notional Amount equal to the then current REMIC I Principal Balance of REMIC I Regular Interest LA-J as of any date of determination.


                    “Component IO-A-M”:  One of 21 components of the Class IO Certificates having a Component Notional Amount equal to the then current REMIC I Principal Balance of REMIC I Regular Interest LA-M as of any date of determination.


                    “Component IO-A-PB”:  One of 21 components of the Class IO Certificates having a Component Notional Amount equal to the then current REMIC I Principal Balance of REMIC I Regular Interest LA-PB as of any date of determination.


                    “Component IO-B”:  One of 21 components of the Class IO Certificates having a Component Notional Amount equal to the then current REMIC I Principal Balance of REMIC I Regular Interest LB as of any date of determination.


                    “Component IO-C”:  One of 21 components of the Class IO Certificates having a Component Notional Amount equal to the then current REMIC I Principal Balance of REMIC I Regular Interest LC as of any date of determination.


                    “Component IO-D”:  One of 21 components of the Class IO Certificates having a Component Notional Amount equal to the then current REMIC I Principal Balance of REMIC I Regular Interest LD as of any date of determination.


                    “Component IO-L”:  One of 21 components of the Class IO Certificates having a Component Notional Amount equal to the then current REMIC I Principal Balance of REMIC I Regular Interest LL as of any date of determination.


                    “Component IO-M”:  One of 21 components of the Class IO Certificates having a Component Notional Amount equal to the then current REMIC I Principal Balance of REMIC I Regular Interest LM as of any date of determination.


                    “Component IO-N”:  One of 21 components of the Class IO Certificates having a Component Notional Amount equal to the then current REMIC I Principal Balance of REMIC I Regular Interest LN as of any date of determination.


                    “Component IO-O”:  One of 21 components of the Class IO Certificates having a Component Notional Amount equal to the then current REMIC I Principal Balance of REMIC I Regular Interest LO as of any date of determination.


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                    “Component IO-P”:  One of 21 components of the Class IO Certificates having a Component Notional Amount equal to the then current REMIC I Principal Balance of REMIC I Regular Interest LP as of any date of determination.


                    “Component IO-Q”:  One of 21 components of the Class IO Certificates having a Component Notional Amount equal to the then current REMIC I Principal Balance of REMIC I Regular Interest LQ as of any date of determination.


                    “Component IO-S”:  One of 21 components of the Class IO Certificates having a Component Notional Amount equal to the then current REMIC I Principal Balance of REMIC I Regular Interest LS as of any date of determination.


                    “Component IO-T”:  One of 21 components of the Class IO Certificates having a Component Notional Amount equal to the then current REMIC I Principal Balance of REMIC I Regular Interest LT as of any date of determination.


                    “Component IO-U”:  One of 21 components of the Class IO Certificates having a Component Notional Amount equal to the then current REMIC I Principal Balance of REMIC I Regular Interest LU as of any date of determination.


                    “Controlling Class”:  With respect to each Mortgage Loan as of any date of determination, the Class of Sequential Pay Certificates, (i) which bears the latest payment priority and (ii) the Class Principal Balance of which is (a) greater than 25% of the Original Class Principal Balance thereof; and (b) equal to or greater than 1.0% of the sum of the Original Class Principal Balances of all the Sequential Pay Certificates; provided, however, that if no Class of Sequential Pay Certificates satisfies clause (ii) above, the Controlling Class shall be the outstanding Class of Sequential Pay Certificates bearing the latest payment priority.  With respect to determining the Controlling Class, the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-5 and


Class A-1A Certificates shall be deemed a single Class of Certificates.


                    “Controlling Class Representative”:  As defined in Section 3.25(a).


                    “Controlling Person”:  With respect to any Person, any other Person who “controls” such Person within the meaning of the Securities Act.


                    “Corporate Trust Office”:  The corporate trust office of the Trustee at which at any particular time its corporate trust business with respect to this Agreement shall be administered, which office at the date of the execution of this Agreement is located at (i) with respect to maintenance of the Certificate Registrar and the transfer and exchange of Certificates, the office of the Trustee located at Wells Fargo Center, Sixth Street and Marquette Avenue, Minneapolis, Minnesota 55479-0113, Attention: Corporate Trust Services (CMBS) Wachovia Bank Commercial Mortgage Trust, Series 2007-C31 and (ii) for all other purposes, the office of the Trustee located at 9062 Old Annapolis Road, Columbia, Maryland 21045-1951, Attention: Corporate Trust Services (CMBS) Wachovia Bank Commercial Mortgage Trust, Series
2007-C31.


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                    “Corrected Mortgage Loan”:  Any Mortgage Loan (other than the Non-Serviced Mortgage Loans) and, if applicable, any Companion Loan (other than the Non-Serviced Companion Loans) that had been a Specially Serviced Mortgage Loan but has ceased to be a Specially Serviced Mortgage Loan in accordance with the definition of “Specially Serviced Mortgage Loan.”


                    “Corresponding Certificate”:  As defined in the Preliminary Statement with respect to any Corresponding Component or any Corresponding REMIC I Regular Interest.


                    “Corresponding Component”:  As defined in the Preliminary Statement with respect to any Corresponding Certificate or any Corresponding REMIC I Regular Interest.


                    “Corresponding REMIC I Regular Interest”:  As defined in the Preliminary Statement with respect to any Class of Corresponding Certificates or any Corresponding Component of the Class IO Certificates. In the case of the Class A-5FL Certificates, “Corresponding Certificate” refers to the Class A-5FL Regular Interest. 


                    “Courtyard Matthews & Rockhill Pool Loan”:  That certain Mortgage Loan which is included in the Trust Fund (identified as loan number 90 on the Mortgage Loan Schedule).


                    “Crossed Group”:  With respect to any Mortgage Loan, such Mortgage Loan and all other Mortgage Loans that are cross-collateralized and cross-defaulted with such Mortgage Loan.


                    “Crossed Loan”:  A Mortgage Loan that is cross-collateralized and cross-defaulted with one or more other Mortgage Loans.


                    “Crossed Loan Repurchase Criteria”:  (i) The Debt Service Coverage Ratio for all remaining related Crossed Loans for the four calendar quarters immediately preceding the repurchase or substitution is not less than the Debt Service Coverage Ratio for all such related Crossed Loans, including the affected Crossed Loan, for the four calendar quarters immediately preceding the repurchase or substitution, (ii) the Loan-to-Value Ratio for any remaining related Crossed Loans determined at the time of repurchase or substitution based upon an Appraisal obtained by the Special Servicer at the expense of the related Mortgage Loan Seller is not greater than the Loan-to-Value Ratio for all such related Crossed Loans, including the affected Crossed Loan, determined at the time of repurchase or substitution based upon an
Appraisal obtained by the Special Servicer at the expense of the related Mortgage Loan Seller and (iii) the Mortgage Loan Seller, at its expense, shall have furnished the Trustee with an Opinion of Counsel that the repurchase of or substitution for a Crossed Loan, including, without limitation, any modification relating to such repurchase or substitution, shall not cause an Adverse REMIC Event.


                    “Custodian”:  A Person who is at any time appointed by the Trustee pursuant to Section 8.11 as a document custodian for the Mortgage Files, which Person shall not be the Depositor, a Mortgage Loan Seller or an Affiliate of the Depositor or a Mortgage Loan Seller.  If no such custodian has been appointed or if such custodian has been so appointed, but the Trustee shall have terminated such appointment, then the Trustee shall be the Custodian.


                    “Cut-Off Date”:  With respect to any Mortgage Loan or Companion Loan, the Due Date for such Mortgage Loan or Companion Loan in May 2007.


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                    “Cut-Off Date Balance”:  With respect to any Mortgage Loan or Companion Loan, the outstanding principal balance of such Mortgage Loan or Companion Loan as of the Cut-Off Date, after application of all unscheduled payments of principal received on or before such date and the principal component of all Periodic Payments due on or before such date, whether or not received.


                    “Debt Service Coverage Ratio”:  With respect to any Mortgage Loan, as of any date of determination, the ratio of (x) the annualized Net Operating Income (before payment of any debt service on such Mortgage Loan) generated by the related Mortgaged Property during the most recently ended period of not less than six months and not more than twelve months for which financial statements, if available (whether or not audited) have been received by or on behalf of the related Mortgage Loan Seller (prior to the Closing Date) or the Master Servicer or the Special Servicer (following the Closing Date), to (y) twelve times the amount of the Periodic Payment in effect for such Mortgage Loan as of such date of determination.


                    “Defaulted Mortgage Loan”:  A Mortgage Loan (i) that is delinquent 60 days or more with respect to a Periodic Payment (not including the Balloon Payment), (ii) that is delinquent in respect of its Balloon Payment or (iii) as to which the Master Servicer or Special Servicer has, by written notice to the related Mortgagor, accelerated the maturity of the indebtedness evidenced by the related Mortgage Note.


                    “Defaulting Party”:  As defined in Section 7.01(b).


                    “Defeasance Collateral”:  With respect to any Defeasance Loan, the United States government securities required or permitted to be pledged in lieu of prepayment pursuant to the terms thereof.


                    “Defeasance Loan”:  Any Mortgage Loan identified as a Defeasance Loan on the Mortgage Loan Schedule which permits or requires the related Mortgagor (or permits the holder of such Mortgage Loan to require the related Mortgagor) to pledge Defeasance Collateral to such holder in lieu of prepayment.


                    “Deficient Valuation”:  With respect to any Mortgage Loan, a valuation by a court of competent jurisdiction of the Mortgaged Property in an amount less than the then outstanding principal balance of the Mortgage Loan, which valuation results from a proceeding initiated under the Bankruptcy Code.


                    “Definitive Certificate”:  As defined in Section 5.03(a).


                    “Depositor”:  Wachovia Commercial Mortgage Securities, Inc. or its successor in interest.


                    “Depository”:  The Depository Trust Company, or any successor Depository hereafter named as contemplated by Section 5.03(c).  The nominee of the initial Depository for purposes of registering those Certificates that are to be Book-Entry Certificates is Cede & Co.  The Depository shall at all times be a “clearing corporation” as defined in Section 8-102(3) of the Uniform Commercial Code of the State of New York and a “clearing agency” registered pursuant to the provisions of Section 17A of the Securities Exchange Act of 1934, as amended.


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                    “Depository Participant”:  A broker, dealer, bank or other financial institution or other Person for whom from time to time the Depository effects book-entry transfers and pledges of securities deposited with the Depository.


                    “Determination Date”:  The eleventh day of each month, or if such eleventh day is not a Business Day, the Business Day immediately succeeding, commencing in June 2007.


                    “Directly Operate”:  With respect to any REO Property, the furnishing or rendering of services to the tenants thereof, the management of such REO Property, the holding of such REO Property primarily for sale or lease or the performance of any construction work thereon, in each case other than through an Independent Contractor; provided, however, the Trustee (or the Special Servicer or any Sub-Servicer on behalf of the Trustee) shall not be considered to Directly Operate an REO Property solely because the Trustee (or the Special Servicer or any Sub-Servicer on behalf of the Trustee) establishes rental terms, chooses tenants, enters into or renews leases, deals with taxes and insurance, or makes decisions as to repairs or capital expenditures with respect to such REO Property.


                    “Discount Rate”:  With respect to any prepaid Mortgage Loan or REO Loan for purposes of allocating any Yield Maintenance Charge or Prepayment Premium received thereon or with respect thereto among (a) the respective Classes of the Sequential Pay Certificates (other than any Excluded Class thereof).  In the event there are two or more such U.S. Treasury issues (a) with the same coupon, the issue with the lowest yield shall apply, and (b) with maturity dates equally close to the maturity date for the prepaid Mortgage Loan or REO Loan, the issue with the earliest maturity date shall apply.


                    “Disqualified Non-United States Person”:  With respect to a Class R-I or Class R-II Certificate, any Non-United States Person or agent thereof other than (i) a Non-United States Person that holds the Class R-I or Class R-II Certificate in connection with the conduct of a trade or business within the United States and has furnished the transferor and the Certificate Registrar with an effective IRS Form W-8ECI (or successor form) or (ii) a Non-United States Person that has delivered to both the transferor and the Certificate Registrar an opinion of a nationally recognized tax counsel to the effect that the transfer of the Class R-I or Class R-II Certificate to it is in accordance with the requirements of the Code and the regulations promulgated thereunder and that such transfer of the
Class R-I or Class R-II Certificate will not be disregarded for federal income tax purposes.


                    “Disqualified Organization”:  Any of the following:  (i) the United States or a possession thereof, any State or any political subdivision thereof, or any agency or instrumentality of any of the foregoing (other than an instrumentality which is a corporation if all of its activities are subject to tax and, except for FHLMC, a majority of its board of directors is not selected by any such governmental unit), (ii) a foreign government, international organization, or any agency or instrumentality of either of the foregoing, (iii) any organization (except certain farmers’ cooperatives described in Section 521 of the Code) which is exempt from the tax imposed by Chapter 1 of the Code (unless such organization is subject to the tax imposed by Section 511 of the Code on unrelated business taxable
income), (iv) rural electric and telephone cooperatives described in Section 1381 of the Code or (v) any other Person so designated by the Trustee or the Certificate Registrar based upon an Opinion of Counsel (which


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shall not be an expense of the Trustee) that the holding of an Ownership Interest in a Residual Certificate by such Person may cause the Trust Fund or any Person having an Ownership Interest in any Class of Certificates, other than such Person, to incur a liability for any federal tax imposed under the Code that would not otherwise be imposed but for the Transfer of an Ownership Interest in a Residual Certificate to such Person.  The terms “United States,” “State” and “international organization” shall have the meanings set forth in Section 7701 of the Code or successor provisions.


                    “Distributable Certificate Interest”:  With respect to:  (a) any Class of Sequential Pay Certificates (other than the Class A-5FL Certificates) and the Class A-5FL Regular Interest  for any Distribution Date, the Accrued Certificate Interest in respect of such Class of Certificates or the Class A-5FL Regular Interest , as applicable, for such Distribution Date, reduced other than with respect to Class IO Certificates (to not less than zero) by (i) the product of (A) any Net Aggregate Prepayment Interest Shortfall for such Distribution Date, (B) a fraction, expressed as a decimal, the numerator of which is the Accrued Certificate Interest in respect of such Class of Certificates or the Class A-5FL Regular Interest, as applicable, for such Distribution Date, and the denominator of which is the
aggregate Accrued Certificate Interest in respect of all the Classes of Sequential Pay Certificates (other than the Class A-5FL Certificates) and the Class A-5FL Regular Interest for such Distribution Date, and (ii) with respect to each such Class, such Class’ share of any Certificate Deferred Interest allocated to such Class of Certificates or the Class A-5FL Regular Interest, as applicable, in accordance with Section 4.04(c); and (b) any Class of Class IO Certificates for any Distribution Date, the Accrued Certificate Interest in respect of such Class of Certificates for such Distribution Date.


                    “Distribution Account”:  The segregated account, accounts or subaccounts created and maintained by the Paying Agent on behalf of the Trustee pursuant to Section 3.04(b) which shall be entitled “Wells Fargo Bank, N.A., as Trustee, in trust for the registered holders of Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2007-C31.”


                    “Distribution Date”:  With respect to any Determination Date, the fourth Business Day following such Determination Date.


                    “Distribution Date Statement”:  As defined in Section 4.02(a).


                    “Do Not Hire List”:  The list, as may be updated at any time, provided by the Depositor to the Master Servicer, the Special Servicer and the Trustee, which lists certain parties identified by the Depositor as having failed to comply with their respective obligations under Section 8.17 of this Agreement or as having failed to comply with any similar Regulation AB reporting requirements under any pooling and servicing agreement relating to any other series of certificates offered by the Depositor.


                    “Document Defect”:  As defined in Section 2.03(a).


                    “Domestic Global Certificate”:  Any of the single, permanent global certificates that represents the Certificates sold in reliance on Rule 144A under the Act.


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                    “Doubletree Hotel – Tucson, AZ Intercreditor Agreement”: The Intercreditor Agreement, dated as of March 28, 2007, by and between Wachovia and Arbor Realty Funding LLC, relating to the Doubletree Hotel – Tucson, AZ Whole Loan.


                    “Doubletree Hotel – Tucson, AZ Loan”: That certain Mortgage Loan which is included in the Trust Fund (identified as loan number 44 on the Mortgage Loan Schedule).


                    “Doubletree Hotel – Tucson, AZ Subordinate Companion Loan”: That certain mortgage loan evidenced by a note, which is not an asset of the Trust Fund, secured by the Mortgaged Property securing the Doubletree Hotel – Tucson, AZ Loan and subordinate in right of entitlement to the Doubletree Hotel – Tucson, AZ Loan.


                    “Doubletree Hotel – Tucson, AZ Whole Loan”: The Doubletree Hotel – Tucson, AZ Loan, together with the Doubletree Hotel – Tucson, AZ Subordinate Companion Loan.


                    “Due Date”:  With respect to (i) any Mortgage Loan on or prior to its Stated Maturity Date or any Companion Loan on or prior to its maturity date, the day of the month set forth in the related Mortgage Note on which each Periodic Payment on such Mortgage Loan or Companion Loan is scheduled to be first due; (ii) any Mortgage Loan after its Stated Maturity Date or any Companion Loan after its maturity date, the day of the month set forth in the related Mortgage Note on which each Periodic Payment on such Mortgage Loan or Companion Loan had been scheduled to be first due and (iii) any REO Loan, the day of the month set forth in the related Mortgage Note on which each Periodic Payment on the related Mortgage Loan had been scheduled to be first due.


                    “EDGAR”:  The Commission’s Electronic Data Gathering, Analysis and Retrieval system.


                    “Eligible Account”:  Any of (i) an account maintained with a federal or state chartered depository institution or trust company, and (a) with respect to deposits held for 30 days or more in such account, the  long-term deposit or unsecured debt obligations of which are rated at least (A) ”AA-” by Fitch (or “A-”; provided the short term unsecured debt obligations are rated at least “F-1” by Fitch), (B) ”Aa3” by Moody’s (if then rated by Moody’s) and (C) ”AA-” by S&P (or “A-”; provided the short-term unsecured debt obligations are rated at least “A-1” by S&P) (or, with respect to any such Rating Agency, such lower rating as will not result in qualification, downgrading or withdrawal of the ratings


then assigned to the Certificates, as evidenced in writing by the applicable Rating Agency), at any time such funds are on deposit therein or (b) with respect to deposits held for less than 30 days in such account, the short-term deposits of which are rated at least “F1” by Fitch, “P-1” by Moody’s (if then rated by Moody’s) and “A-1” by S&P (or, with respect to any such Rating Agency, such lower rating as will not result in qualification, downgrading or withdrawal of the ratings then assigned to the Certificates) as evidenced in writing by the applicable Rating Agency at any time such funds are on deposit therein; or (ii) a segregated trust account or accounts maintained with a federal or state chartered depository institution or trust company acting in its fiduciary capacity, which, in the case of a state chartered depository institution or trust company, is subject to regulations regarding fiduciary funds on deposit therein substantially similar
to 12 CFR § 9.10(b), the long term deposits or unsecured debt of which, or if it is the wholly-owned subsidiary of an entity the


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long-term deposits or unsecured obligations of which, are rated at least “Baa3” by Moody’s and which has a combined capital and surplus of at least $50,000,000; or (iii) any other account, the use of which would not, in and of itself, cause a qualification, downgrading or withdrawal of the then-current rating assigned to any Class of Certificates, as confirmed in writing by each Rating Agency.


                    “Environmental Assessment”:  A “Phase I assessment” as described in, and meeting the criteria of, (i) Chapter 5 of the FNMA Multifamily Guide or any successor provisions covering the same subject matter in the case of a Specially Serviced Mortgage Loan as to which the related Mortgaged Property is multifamily property or (ii)  the American Society for Testing and Materials in the case of Specially Serviced Mortgage Loan as to which the related Mortgaged Property is not multifamily property.


                    “ERISA”:  The Employee Retirement Income Security Act of 1974, as amended, and any regulations and administrative pronouncements thereunder.


                    “ERISA Restricted Certificate”:  Any Class L, Class M, Class N, Class O, Class P, Class Q, Class S, Class T or Class U Certificate; provided that any such Certificate (a) will cease to be considered an ERISA Restricted Certificate and (b) will cease to be subject to the transfer restrictions related to ERISA Restricted Certificates contained in Section 5.02(c) if, as of the date of a proposed transfer of such Certificate, either (i) it is rated in one of the four highest generic ratings categories by a Rating Agency or (ii) relevant provisions of ERISA and the Code would permit transfer of such Certificate to a Plan without resulting in a non-exempt prohibited transaction.


                    “Escrow Payment”:  Any payment received by the Master Servicer or the Special Servicer for the account of any Mortgagor for application toward the payment of real estate taxes, assessments, insurance premiums, ground rents (if applicable) and other similar items in respect of the related Mortgaged Property.


                    “Event of Default”:  One or more of the events described in Section 7.01(a).


                    “Exchange Act”:  Securities Exchange Act of 1934, as amended.


                    “Exchange Certificate”:  The certificate necessary to exchange an interest in a Regulation S Global Certificate for an interest in a Domestic Global Certificate, which is in the form of Exhibit F-5 attached hereto, or the certificate necessary to exchange an interest in a Domestic Global Certificate for an interest in a Regulation S Global Certificate, which is in the form of Exhibit F-6, as applicable, hereto, in each case as described in Section 5.02(e).


                    “Excluded Class”:  Any Class of Sequential Pay Certificates other than the Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-PB Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-5FL Certificates, Class A-1A Certificates, Class A-M Certificates, Class A-J Certificates, Class B Certificates, Class C Certificates, Class D Certificates, Class E Certificates, Class F Certificates, Class G Certificates, Class H Certificates, Class J Certificates and Class K Certificates.


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                    “Exemptions”:  Department of Labor Prohibited Transaction Exemption (“PTE”) 96-22, PTE 89-90, Final Authorization Number 2004-03E and PTE 89-88, each as amended from time to time, or any successor thereto.


                    “FDIC”:  Federal Deposit Insurance Corporation, or its successor in interest.


                    “FHLMC”:  Federal Home Loan Mortgage Corporation, or its successor in interest.


                    “Final Recovery Determination”:  A determination by the Special Servicer with respect to any Defaulted Mortgage Loan (and, if applicable, any defaulted Companion Loan) or REO Property (other than a Mortgage Loan or REO Property, as the case may be, that was purchased by any of the Mortgage Loan Sellers pursuant to the applicable Mortgage Loan Purchase Agreement or by the Majority Subordinate Certificateholder, the applicable Companion Holder or the Special Servicer pursuant to Section 3.18(c), 3.18(d), 3.18(e) or 3.18(h), or by the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder pursuant to Section 9.01) that there has been a recovery of all Insurance Proceeds, Liquidation Proceeds and other payments or recoveries that the Special Servicer has determined, in accordance with the
Servicing Standard, will be ultimately recoverable (or, in the case of the 2007-C30 Serviced Mortgage Loans, the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan and the GECMC 2007-C1 Serviced Mortgage Loan, a “Final Recovery Determination” as defined in the 2007-C30 Pooling and Servicing Agreement, the Morgan Stanley 2007-IQ14 Pooling and Servicing Agreement or the GECMC 2007-C1 Pooling and Servicing Agreement, respectively, with respect to such Mortgage Loan(s)).


                    “Fitch”:  Fitch, Inc., or its successor in interest.  If neither Fitch nor any successor remains in existence, “Fitch” shall be deemed to refer to such other nationally recognized statistical rating agency or any other comparable Person designated by the Depositor, notice of which designation shall be given to the Trustee, the Master Servicer and the Special Servicer, and specific ratings of Fitch herein referenced shall be deemed to refer to the equivalent ratings of the party so designated.


                    “Five Times Square Intercreditor Agreement”:  The Intercreditor and Servicing Agreement, dated as of February 10, 2007, by and between Wachovia as Lead Lender, Wachovia as A-2 Lender, Wachovia as A-3 Lender and Wachovia as Co-Lender relating to the Five Times Square Whole Loan.


                    “Five Times Square Loan”:  That certain Mortgage Loan which is included in the Trust Fund (identified as loan number 1 on the Mortgage Loan Schedule).


                    “Five Times Square Pari Passu Companion Loans”:  The Five Times Square Pari Passu Companion Loan #1, together with the Five Times Square Pari Passu Companion Loan #2.


                    “Five Times Square Pari Passu Companion Loan #1”:  That certain mortgage loan evidenced by a note, which is not an asset of the Trust Fund, secured by the Mortgaged Property securing the Five Times Square Loan and pari passu in right of entitlement with the Five Times Square Loan and the Five Time Square Pari Passu Companion Loan #2.


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                    “Five Times Square Pari Passu Companion Loan #2”:  That certain mortgage loan evidenced by a note, which is not an asset of the Trust Fund, secured by the Mortgaged Property securing the Five Times Square Loan and pari passu in right of entitlement with the Five Times Square Loan and the Five Time Square Pari Passu Companion Loan #1.


                     “Five Times Square Loan Whole Loan”:  The Five Times Square Loan, together with the Five Times Square Pari Passu Companion Loans and the Five Times Square Subordinate Companion Loan.


                    “Five Times Square Subordinate Companion Loan”:  That certain mortgage loan evidenced by a note, which is not an asset of the Trust Fund, secured by the Mortgaged Property securing the Five Times Square Loan and subordinate in right of entitlement to the Five Times Square Loan.


                    “Fixed Amount”:  The “Fixed Amount” as defined in the Swap Contract.


                    “Fixed Swap Payment”:  With respect to any Distribution Date, the Fixed Amount required to be paid to the Swap Counterparty by the Trust Fund under the Swap Contract.


                    “Floating Amount”:  The “Floating Amount” as defined in the Swap Contract.


                    “Floating Rate Account”:  The trust account or accounts created and maintained as a separate account or accounts (or as a subaccount of the Distribution Account) by the Paying Agent pursuant to Section 3.04(g), which shall be entitled “Wells Fargo Bank, N.A., as Trustee, in trust for the registered Holders of Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage Pass Through Certificates, Series 2007-C31 Class A-5FL Certificates, Floating Rate Account,” and which must be an Eligible Account (or a subaccount of an Eligible Account).  The Floating Rate Account shall not be an asset of either REMIC I or REMIC II formed hereunder. 


                    “Floating Swap Payment”:  With respect to any Distribution Date, the Floating Amount required to be paid to the Trust by the Swap Counterparty under the Swap Contract.


                    “FNMA”:  Federal National Mortgage Association, or any successor in interest.


                    “Form 8-K Disclosure Information”:  As defined in Section 8.17(j).


                    “Gain-on-Sale Proceeds”:  With respect to any Mortgage Loan, the excess of (i) Liquidation Proceeds of the Mortgage Loan or related REO Property net of any related Liquidation Expenses, over (ii) the Purchase Price for such Mortgage Loan on the date on which such Liquidation Proceeds were received.


                    “Gain-on-Sale Reserve Account”:  A segregated custodial account or accounts or subaccount of the Distribution Account created and maintained by the Paying Agent pursuant to Section 3.04(e) on behalf of the Trustee in trust for the Certificateholders, which shall be entitled “Wells Fargo Bank, N.A., as Trustee, in trust for the registered holders of Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2007-C31.”  Any such account shall be an Eligible Account or a subaccount of an Eligible Account.


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                    “GECMC 2007-C1 Controlling Class Representative”:  The “Directing Certificateholder” as defined in the GECMC 2007-C1 Pooling and Servicing Agreement.


                    “GECMC 2007-C1 Depositor”:  As defined in the Preliminary Statement.


                    “GECMC 2007-C1 Master Servicer”:  As defined in the Preliminary Statement.


                    “GECMC 2007-C1 Mortgage Loan Purchase Agreement”:  The “Mortgage Loan Purchase Agreement” as defined in the GECMC 2007-C1 Pooling and Servicing Agreement.


                    “GECMC 2007-C1 Pooling and Servicing Agreement”:  As defined in the Preliminary Statement.


                    “GECMC 2007-C1 Serviced Mortgage Loan”:  The 666 Fifth Avenue Loan.


                    “GECMC 2007-C1 Special Servicer”:  As defined in the Preliminary Statement.


                    “GECMC 2007-C1 Trust Fund”:  As defined in the Preliminary Statement.


                    “GECMC 2007-C1 Trustee”:  As defined in the Preliminary Statement.


                    “Global Certificates”:  The Certificates represented by the Regulation S Global Certificates and/or the Domestic Global Certificates.


                    “Grantor Trust Provisions”:  Subpart E of Part I of subchapter J of the Code (including all Treasury Regulations thereunder) and Treasury Regulations Section 301.7701-4(c).


                    “Grantor Trusts”:  Collectively, the Additional Interest Grantor Trust and the Class A-5FL Grantor Trust.


                    “Ground Lease”:  With respect to any Mortgage Loan for which the Mortgagor has a leasehold interest in the related Mortgaged Property or space lease within such Mortgaged Property, the lease agreement creating such leasehold interest.


                    “Group 1 Mortgage Loan”:  Any Mortgage Loan identified on the Mortgage Loan Schedule as belonging to Loan Group 1.


                    “Group 2 Mortgage Loan”:  Any Mortgage Loan identified on the Mortgage Loan Schedule as belonging to Loan Group 2.


                    “Hazardous Materials”:  Any dangerous, toxic or hazardous pollutants, chemicals, wastes, or substances, including, without limitation, those so identified pursuant to CERCLA or any other federal, state or local environmental related laws and regulations now existing or hereafter enacted, and specifically including, without limitation, asbestos and asbestos-containing materials, polychlorinated biphenyls (“PCBs”), radon gas, petroleum and petroleum products and urea formaldehyde.


                    “Holder”:  A Certificateholder.


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                    “HUD-Approved Servicer”:  A servicer approved by the Secretary of Housing and Urban Development pursuant to Section 207 of the National Housing Act.


                    “Impound Reserve”:  As defined in Section 3.16(c) hereof.


                    “Independent”:  When used with respect to any specified Person, any such Person who (i) is in fact independent of the Depositor, the Mortgage Loan Sellers, the Master Servicer, the Special Servicer, the Controlling Class Representative, the Trustee, any Companion Holder and any and all Affiliates thereof, (ii) does not have any direct financial interest in or any material indirect financial interest in any of the Depositor, the Mortgage Loan Sellers, the Master Servicer, the Special Servicer, the Controlling Class Representative, the Trustee, any Companion Holder or any Affiliate thereof, and (iii) is not connected with the Depositor, the Mortgage Loan Sellers, the Master Servicer, the Controlling Class Representative, the Special Servicer, the Trustee, any Companion Holder or any Affiliate thereof as an
officer, employee, promoter, underwriter, trustee, partner, director or Person performing similar functions; provided, however, that a Person shall not fail to be Independent of the Depositor, the Mortgage Loan Sellers, the Master Servicer, the Controlling Class Representative, the Special Servicer, the Trustee or any Affiliate thereof merely because such Person is the beneficial owner of 1% or less of any class of securities issued by the Depositor, the Mortgage Loan Sellers, the Master Servicer, the Special Servicer, the Controlling Class Representative, the Trustee or any Affiliate thereof, as the case may be.


                    “Independent Appraiser”:  An Independent professional real estate appraiser who is a member in good standing of the Appraisal Institute, and, if the State in which the subject Mortgaged Property is located certifies or licenses appraisers, certified or licensed in such State, and in each such case, who has a minimum of five years experience in the subject property type and market.


                    “Independent Contractor”:  Any Person that would be an “independent contractor” with respect to REMIC I within the meaning of Section 856(d)(3) of the Code if REMIC I were a real estate investment trust (except that the ownership test set forth in that section shall be considered to be met by any Person that owns, directly or indirectly, 35 percent or more of any Class of Certificates, or such other interest in any Class of Certificates as is set forth in an Opinion of Counsel, which shall be delivered, at no expense to the Master Servicer, the Special Servicer, the Trustee or the Trust Fund, to the Trustee and the Master Servicer, so long as REMIC I does not receive or derive any income from such Person; provided that the relationship between such Person and REMIC I is at
arm’s length, all within the meaning of Treasury Regulations Section 1.856-4(b)(5)), or any other Person upon receipt by the Trustee of an Opinion of Counsel, which shall be at no expense to the Master Servicer, the Special Servicer, the Trustee or the Trust Fund, to the effect that the taking of any action in respect of any REO Property by such Person, subject to any conditions therein specified, that is otherwise herein contemplated to be taken by an Independent Contractor will not cause such REO Property to cease to qualify as “foreclosure property” within the meaning of Section 860G(a)(8) of the Code, or cause any income realized in respect of such REO Property to fail to qualify as Rents from Real Property as defined in Section 856(d) of the Code.


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                    “Initial Purchaser”:  Wachovia Capital Markets, LLC, or its respective successors in interest, individually or collectively as the context requires.


                    “Institutional Accredited Investor”:  Institutional “accredited investors” as defined in Rule 501(a)(1), (2), (3) or (7) of Regulation D under the Securities Act or any entity in which all the equity holders fall within any such subsections.


                    “Insurance Policy”:  With respect to any Mortgage Loan, any hazard insurance policy, flood insurance policy, title policy or other insurance policy that is maintained from time to time in respect of such Mortgage Loan or the related Mortgaged Property.


                    “Insurance Proceeds”:  Proceeds paid under any Insurance Policy, to the extent such proceeds are not applied to the restoration of the related Mortgaged Property, released to the Mortgagor, or any tenants or ground lessors, as the case may be, pursuant to the terms of the related Mortgage or lease, in accordance with the Servicing Standard.


                    “Insured Environmental Event”:  As defined in Section 3.08(c).


                    “Intercreditor Agreement”:  Each of the Five Times Square Intercreditor Agreement, the Beacon D.C. & Seattle Pool Pari Passu Intercreditor Agreement, the 666 Fifth Avenue Pari Passu Intercreditor Agreement, the Peter Cooper Village & Stuyvesant Town Pari Passu Intercreditor Agreement, the Los Angeles International Jewelry Center Intercreditor Agreement, the Lembi Pool Intercreditor Agreement, the 611 West 6th Street Intercreditor Agreement, the Wynn Palms Apartments Intercreditor Agreement, the Doubletree Hotel – Tucson, AZ Intercreditor Agreement, the Quail Creek Intercreditor Agreement and the Rancho Vista Apartments Intercreditor Agreement, individually or collectively, as the context may require.


                    “Interest Accrual Period”:  With respect to each Class of Regular Certificates, (other than the Class A-5FL Certificates) REMIC I Regular Interests, Component or the Class A-5FL Regular Interest and any Distribution Date, the calendar month immediately preceding the calendar month in which such Distribution Date occurs.  Notwithstanding the foregoing, each Interest Accrual Period is deemed to consist of 30 days for purposes of calculating interest on the Regular Certificates, the REMIC I Regular Interests, the Components or the Class A-5FL Regular Interest. With respect to the Class A-5FL Certificates, interest shall be calculated on an Actual/360 Basis and, for any Distribution Date, shall be deemed to accrue during the period from and including the Distribution Date in the month preceding the month in which
the related Distribution Date occurs (or, in the case of the first Distribution Date, the Closing Date) to but excluding the related Distribution Date; provided, however, that if a Class A-5FL Distribution Conversion has occurred, Accrued Certificate Interest with respect to the Class A-5FL Certificates shall be the same as for the Class A-5FL Regular Interest. 


                    “Interest Reserve Account”:  The segregated account created and maintained by the Trustee pursuant to Section 3.04(c) in trust for Certificateholders, which shall be entitled “Wells Fargo Bank, N.A., as Trustee, on behalf of and in trust for the registered holders of Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2007-C31”.


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                    “Interest Reserve Amount”:  With respect to each Interest Reserve Loan and each Distribution Date that occurs in February of each year and in January of each year that is not a leap year (unless, in either case, the related Distribution Date is the final Distribution Date), an amount equal to one day’s interest at the related Mortgage Rate (without regard to the second proviso in the definition thereof) on the related Stated Principal Balance as of the Due Date in the month in which such Distribution Date occurs (but prior to the application of any amounts owed on such Due Date), to the extent a Periodic Payment or P&I Advance is made in respect thereof for such Due Date as of the related P&I Advance Date.


                    “Interest Reserve Loan”:  Each Mortgage Loan that is an Actual/360 Mortgage Loan.


                    “Interest Shortfall Account”:  As defined in Section 3.04(h).


                    “Interest Shortfall Amount”:  $0.


                    “Interested Person”:  The Depositor, any Mortgage Loan Seller, the Master Servicer, the Special Servicer, any Independent Contractor hired by the Special Servicer, any Holder of a Certificate, each Companion Holder (but only with respect to the related Co-Lender Loan) or any Affiliate of any such Person.


                    “Internet Website”:  The Internet Websites maintained by the Trustee and, if applicable, the Master Servicer initially located at “www.ctslink.com” and “www.wachovia.com”, respectively, or such other address as provided to the parties hereto from time to time.


                    “Investment Account”:  As defined in Section 3.06(a).


                    “Issue Price”:  With respect to each Class of Certificates, the “issue price” as defined in the Code and Treasury regulations promulgated thereunder.


                    “Late Collections”:  With respect to any Mortgage Loan or Companion Loan, all amounts received thereon during any Collection Period, other than Penalty Interest, whether as payments, Insurance Proceeds, Liquidation Proceeds or otherwise, which represent late collections of the principal and/or interest portions of a Scheduled Payment (other than a Balloon Payment) or an Assumed Scheduled Payment in respect of such Mortgage Loan or Companion Loan due or deemed due on a Due Date in a previous Collection Period, and not previously recovered.  With respect to any REO Loan, all amounts received in connection with the related REO Property during any Collection Period, whether as Insurance Proceeds, Liquidation Proceeds, REO Revenues or otherwise, which represent late collections of the principal and/or interest portions of a
Scheduled Payment (other than a Balloon Payment) or an Assumed Scheduled Payment in respect of the predecessor Mortgage Loan or of an Assumed Scheduled Payment in respect of such REO Loan due or deemed due on a Due Date in a previous Collection Period and not previously recovered.


                    “Lembi Pool Intercreditor Agreement”: The Intercreditor Agreement, dated as of May 1, 2007, by and between Nomura (in its capacity as initial Note A Holder) and Nomura (in its capacity as initial Note B Holder), relating to the Lembi Pool Whole Loan.


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                    “Lembi Pool Loan”: That certain Mortgage Loan which is included in the Trust Fund (identified as loan number 11 on the Mortgage Loan Schedule).


                    “Lembi Pool Subordinate Companion Loan”: That certain mortgage loan evidenced by a note, which is not an asset of the Trust Fund, secured by the Mortgaged Property securing the Lembi Pool Loan and subordinate in right of entitlement to the Lembi Pool Loan.


                    “Lembi Pool Whole Loan”: The Lembi Pool Loan, together with the Lembi Pool Subordinate Companion Loan.


                    “LIBOR”:  With respect to the Class A-5FL Certificates and each Interest Accrual Period, the rate for deposits in U.S. Dollars, for a period equal to one month, which appears on the Reuters Page LIBOR 01 as of 11:00 a.m., London time, on the related LIBOR Determination Date; provided, however, with respect to the initial Interest Accrual Period, LIBOR shall be determined by linear interpolation between (i) two-week LIBOR and (ii) one-month LIBOR.  If such rate does not appear on Reuters Page LIBOR 01, the rate for that Interest Accrual Period will be determined on the basis of the rates at which deposits in U.S. Dollars are offered by any four major reference banks in the London interbank market selected by the Trustee to provide such bank’s offered quotation of such rates at approximately 11:00 a.m.,


London time, on the related LIBOR Determination Date to prime banks in the London interbank market for a period of one month, commencing on the first day of such Interest Accrual Period and in an amount that is representative for a single such transaction in the relevant market at the relevant time.  The Trustee will request the principal London office of any four major reference banks in the London interbank market selected by the Trustee to provide a quotation of such rates, as offered by each such bank.  If at least two such quotations are provided, the rate for that Interest Accrual Period will be the arithmetic mean of the quotations.  If fewer than two quotations are provided as requested, the rate for that Interest Accrual Period will be the arithmetic mean of the rates quoted by major banks in New York City selected by the Trustee, at approximately 11:00 a.m., New York City time, on the LIBOR Determination Date with respect to such Interest Accrual Period for loans in U.S.
Dollars to leading European banks for a period equal to one month, commencing on the first day of the related Interest Accrual Period with respect to such Interest Accrual Period and in an amount that is representative for a single such transaction in the relevant market at the relevant time.  The Trustee will determine LIBOR for each Interest Accrual Period and the determination of LIBOR by Trustee will be binding absent manifest error.


                    “LIBOR Determination Date”:  (i) With respect to the initial Interest Accrual Period, the date that is two LIBOR Business Days prior to the Closing Date, and (ii) with respect to each Interest Accrual Period thereafter, the date that is two LIBOR Business Days prior to the related Interest Accrual Period.


                    “LIBOR Business Day”:  Any day on which commercial banks are open for international business (including dealings in U.S. Dollar deposits) in London, England.


                    “Liquidation Event”:  With respect to any Mortgage Loan (other than the Non-Serviced Mortgage Loans), any of the following events:  (i) such Mortgage Loan is paid in full; (ii) a Final Recovery Determination is made with respect to such Mortgage Loan; (iii) such


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Mortgage Loan is repurchased by a Mortgage Loan Seller pursuant to the applicable Mortgage Loan Purchase Agreement; or (iv) such Mortgage Loan is purchased by the Majority Subordinate Certificateholder, the Companion Holders, the mezzanine lenders or the Special Servicer pursuant to Sections 3.18(c), 3.18(d), 3.18(e) or 3.18(m), or by the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder pursuant to Section 9.01.  With respect to any REO Property (and the related REO Loan), any of the following events:  (i) a Final Recovery Determination is made with respect to such REO Property; (ii) such REO Property is purchased by the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder pursuant to Section 9.01; or (iii) such REO Property is purchased by the Companion Holder as described in Section 3.18(d).


                    “Liquidation Fee”:  With respect to each Specially Serviced Mortgage Loan and REO Loan (other than any REO Loan related to a Non-Serviced Mortgage Loan), the fee payable to the Special Servicer out of certain related recoveries pursuant to the third paragraph of Section 3.11(c).


                    “Liquidation Fee Rate”:  With respect to all amounts set forth in the third paragraph of Section 3.11(c), 1.00%.


                    “Liquidation Proceeds”:  All cash amounts (other than Insurance Proceeds and REO Revenues) received by the Master Servicer or the Special Servicer in connection with:  (i) the taking of all or a part of a Mortgaged Property or REO Property by exercise of the power of eminent domain or condemnation, subject, however, to the rights of any tenants and ground lessors, as the case may be, and the rights of the Mortgagor under the terms of the related Mortgage; (ii) the liquidation of a Mortgaged Property or other collateral constituting security for a Defaulted Mortgage Loan, through trustee’s sale, foreclosure sale, REO Disposition or otherwise, exclusive of any portion thereof required to be released to the related Mortgagor in accordance with applicable law and the terms and conditions of the related
Mortgage Note and Mortgage; (iii) the realization upon any deficiency judgment obtained against a Mortgagor; (iv) the purchase of a Defaulted Mortgage Loan by the Majority Subordinate Certificateholder, the related Companion Holder, the mezzanine lenders or the Special Servicer pursuant to Section 3.18(c), Section 3.18(d), Section 3.18(e) or Section 3.18(m); (v) the repurchase of a Mortgage Loan by a Mortgage Loan Seller pursuant to the applicable Mortgage Loan Purchase Agreement; (vi) the purchase of a Mortgage Loan or REO Property by the Master Servicer, the Special Servicer, or the Majority Subordinate Certificateholder pursuant to Section 9.01; or (vii) the purchase of an REO Property by the Companion Holder pursuant to Section 3.18(d).


                    “Loan Group”:  Either Loan Group 1 or Loan Group 2.


                    “Loan Group 1”:  Collectively, all of the Mortgage Loans that are Group 1 Mortgage Loans and any successor REO Loans with respect thereto.


                    “Loan Group 1 Available Distribution Amount”:  With respect to any Distribution Date, that portion, if any, of the Available Distribution Amount attributable to Loan Group 1.


                    “Loan Group 1 Principal Distribution Amount”:  With respect to any Distribution Date, that portion, if any, of the Principal Distribution Amount attributable to Loan Group 1.


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                    “Loan Group 2”:  Collectively, all of the Mortgage Loans that are Group 2 Mortgage Loans and any successor REO Loans with respect thereto.


                    “Loan Group 2 Available Distribution Amount”:  With respect to any Distribution Date, that portion, if any, of the Available Distribution Amount attributable to Loan Group 2.


                    “Loan Group 2 Principal Distribution Amount”:  With respect to any Distribution Date, that portion, if any, of the Principal Distribution Amount attributable to Loan Group 2.


                    “Loan Pair”:  Collectively, any Co-Lender Loan and its related Companion Loan(s).


                    “Loan-to-Value Ratio”:  With respect to any Mortgage Loan, as of any date of determination, a fraction, expressed as a percentage, the numerator of which is the then current principal amount of such Mortgage Loan, and the denominator of which is the Appraised Value of the related Mortgaged Property.


                    “Lockout Period”:  With respect to any Mortgage Note that prohibits the Mortgagor from prepaying such Mortgage Loan until a date specified in such Mortgage Note, the period from the Closing Date until such specified date.


                    “Los Angeles International Jewelry Center Intercreditor Agreement”: The Intercreditor Agreement, dated as of March [__], 2007, by and between Wachovia and MW1-2002, LLC, relating to the Los Angeles International Jewelry Center Whole Loan.


                    “Los Angeles International Jewelry Center Loan”: That certain Mortgage Loan which is included in the Trust Fund (identified as loan number 10 on the Mortgage Loan Schedule).


                    “Los Angeles International Jewelry Center Subordinate Companion Loan”: That certain mortgage loan evidenced by a note, which is not an asset of the Trust Fund, secured by the Mortgaged Property securing the Los Angeles International Jewelry Center Loan and subordinate in right of entitlement to the Los Angeles International Jewelry Center Loan.


                    “Los Angeles International Jewelry Center Whole Loan”: The Los Angeles International Jewelry Center Loan, together with the Los Angeles International Jewelry Center Subordinate Companion Loan.


                    “Majority Subordinate Certificateholder”:  As of any date of determination, any single Holder of Certificates (other than any Holder which is an Affiliate of the Depositor or the Mortgage Loan Seller) entitled to greater than 50% of the Voting Rights allocated to the Controlling Class; provided, however, if there is no single Holder of Certificates entitled to greater than 50% of the Voting Rights allocated to such Class, then the Majority Subordinate Certificateholder shall be the single Holder of Certificates with the largest percentage of Voting Rights allocated to such Class.  With respect to determining the Majority Subordinate Certificateholder, the Class A-1 Certificates, the Class A-2 Certificates, the Class A-3 Certificates, the Class A-PB Certificates, the Class A-4
Certificates, the Class A-5 Certificates and the Class A-1A Certificates shall be deemed to be a single Class of Certificates, with such Voting Rights allocated among the Holders of Certificates of such Classes in proportion to the respective Certificate Principal Balances of such Certificates as of such date of determination.


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                    “Master Servicer”:  Wachovia Bank, National Association, its successor in interest (including the Trustee as successor pursuant to Section 7.02), or any successor master servicer appointed as herein provided.


                    “Master Servicing Fee”:  With respect to each Mortgage Loan (and, in the case of the 666 Fifth Avenue Loan, without duplication the “Master Servicing Fee” payable in respect of the 666 Fifth Avenue Whole Loan under the GECMC 2007-C1 Pooling and Servicing Agreement) and REO Loan the fee payable to the Master Servicer pursuant to Section 3.11(a).


                    “Master Servicing Fee Rate”:  With respect to each Mortgage Loan the percentage set forth under the column “Master Servicing Fee Rate” on the Mortgage Loan Schedule.


                    “Material Core Documents”:  As defined in Section 2.03.


                    “Memorandum”:  As defined in the Mortgage Loan Purchase Agreement.


                    “ML-CFC 2007-5 Pooling and Servicing Agreement”:  That certain pooling and servicing agreement, dated as of March 1, 2007, by and among Merrill Lynch Mortgage Investors, Inc., as depositor, KeyCorp Real Estate Capital Markets, Inc., as master servicer, CWCapital Asset Management LLC, as special servicer (the “ML-CFC 2007-5 Special Servicer”).  LaSalle Bank National Association, as trustee, pursuant to which the ML-CFC Commercial Mortgage Trust 2007-5, Commercial Mortgage Pass Through Certificates, Series 2007-5 were issued and the trust fund was created.


                    “Money Term”:  With respect to any Mortgage Loan, the maturity date, Mortgage Rate, Stated Principal Balance, amortization term or payment frequency thereof or any provision thereof requiring the payment of a Prepayment Premium or Yield Maintenance Charge in connection with a Principal Prepayment (but not any late fees or default interest provisions).


                    “Moody’s”:  Moody’s Investors Service, Inc., or its successor in interest.  If Moody’s nor any successor remains in existence, “Moody’s” shall be deemed to refer to such other nationally recognized statistical rating agency or other comparable Person designated by the Depositor, notice of which designation shall be given to the Trustee, the Master Servicer and the Special Servicer, and specific ratings of Moody’s herein referenced shall be deemed to refer to the equivalent ratings of the party so designated.


                    “Morgan Stanley 2007-IQ14 Controlling Class Representative”:  The “Controlling Class Representative” as defined in the Morgan Stanley 2007-IQ14 Pooling and Servicing Agreement.


                    “Morgan Stanley 2007-IQ14 Depositor”:  As defined in the Preliminary Statement.


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                    “Morgan Stanley 2007-IQ14 Majority Subordinate Certificateholder”:  The “Majority Subordinate Certificateholder” as defined in the Morgan Stanley 2007-IQ14 Pooling and Servicing Agreement.


                    “Morgan Stanley 2007-IQ14 Master Servicer”:  As defined in the Preliminary Statement.


                    “Morgan Stanley 2007-IQ14 Mortgage Loan Purchase Agreement”:  The “Mortgage Loan Purchase Agreement” as defined in the Morgan Stanley 2007-IQ14 Pooling and Servicing Agreement.


                    “Morgan Stanley 2007-IQ14 Pooling and Servicing Agreement”:  As defined in the Preliminary Statement.


                    “Morgan Stanley 2007-IQ14 Serviced Mortgage Loan”:  The Beacon D.C. & Seattle Pool Loan.


                    “Morgan Stanley 2007-IQ14 Special Servicer”:  As defined in the Preliminary Statement.


                    “Morgan Stanley 2007-IQ14 Trust Fund”:  As defined in the Preliminary Statement.


                    “Morgan Stanley 2007-IQ14 Trustee”:  As defined in the Preliminary Statement.


                    “Mortgage”:  With respect to any Mortgage Loan, the mortgage, deed of trust, deed to secure debt or similar instrument that secures the Mortgage Note and creates a lien on the fee or leasehold interest in the related Mortgaged Property.


                    “Mortgage Deferred Interest”:  With respect to any Mortgage Loan as to which the Mortgage Rate has been reduced through a modification and any Distribution Date, the amount by which (a) interest accrued at such reduced rate is less than (b) the amount of interest that would have accrued on such Mortgage Loan at the Mortgage Rate before such reduction, to the extent such amount has been added to the outstanding principal balance of such Mortgage Loan.


                    “Mortgage File”:  With respect to any Mortgage Loan, collectively the following documents:

	
   
  	
  
          (i)          the   original executed Mortgage Note including any power of attorney related to   the execution thereof, together with any and all intervening endorsements   thereon, endorsed on its face or by allonge attached thereto (without recourse,   representation or warranty, express or implied) to the order of “Wells Fargo   Bank, N.A., as trustee for the registered holders of Wachovia Bank Commercial   Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series   2007-C31”, or in blank (or a lost note affidavit and indemnity with a copy of   such Mortgage Note attached thereto);
  




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          (ii)          an   original or copy of the Mortgage, together with any and all intervening   assignments thereof, in each case (unless not yet returned by the applicable   recording office) with evidence of recording indicated thereon or certified   by the applicable recording office;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (iii)          an   original or copy of any related Assignment of Leases (if such item is a document   separate from the Mortgage), together with any and all intervening   assignments thereof, in each case (unless not yet returned by the applicable   recording office) with evidence of recording indicated thereon or certified   by the applicable recording office;
  
	
   
  	
  
 
  
	
  
 
  	
  
          (iv)          an   original executed assignment, in recordable form (except for any missing   recording information), of (a) the Mortgage, (b) any related   Assignment of Leases (if such item is a document separate from the Mortgage   and to the extent not already assigned pursuant to preceding clause (a))   and (c) any other recorded document relating to the Mortgage Loan   otherwise included in the Mortgage File, in favor of “Wells Fargo Bank, N.A.,   as trustee for the registered holders of Wachovia Bank Commercial Mortgage   Trust, Commercial Mortgage Pass-Through Certificates, Series 2007-C31”, or in   blank;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (v)          an   original assignment of all unrecorded documents relating to the Mortgage Loan   (to the extent not already assigned pursuant to clause (iv) above),   in favor of “Wells Fargo Bank, N.A., as trustee for the registered holders of   Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage Pass-Through   Certificates, Series 2007-C31”, or in blank;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (vi)          originals   or copies of any modification, consolidation, assumption and substitution   agreements in those instances where the terms or provisions of the Mortgage   or Mortgage Note have been consolidated or modified or the Mortgage Loan has   been assumed or consolidated;
  
	
   
  	
  
 
  
	
  
 
  	
  
          (vii)          the   original or a copy of the policy or certificate of lender’s title insurance   or, if such policy has not been issued or located, an original or copy of an   irrevocable, binding commitment (which may be a marked version of the policy   that has been executed by an authorized representative of the title company,   a “pro forma” title policy, or an agreement to provide the same pursuant to   binding escrow instructions executed by an authorized representative of the title   company) to issue such title insurance policy;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (viii)          any   filed copies (bearing evidence of filing) or other evidence of filing   satisfactory to the Trustee of any prior UCC Financing Statements in favor of   the originator of such Mortgage Loan or in favor of any assignee prior to the   Trustee (but only to the extent the Mortgage Loan Seller had possession of   such UCC Financing Statements prior to the Closing Date) and, if there is an   effective UCC Financing Statement and continuation statement in favor of the   Mortgage Loan Seller on record with the applicable public office for UCC   Financing Statements, an original UCC Amendment, in form suitable for filing   in favor of
  



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	 “Wells Fargo Bank, N.A., as trustee for the registered holders of Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2007-C31, as assignee”, or in blank;

	  
	  

	
  
 
  	
  
          (ix)          an   original or copy of (A) any Ground Lease, memorandum of ground lease and   ground lessor estoppel, and (B) any loan guaranty or indemnity and   (C) any environmental insurance policy;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (x)          any   intercreditor agreement relating to permitted debt (including, without   limitation, mezzanine debt) of the Mortgagor;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (xi)          copies   of any loan agreement, escrow agreement or security agreement relating to   such Mortgage Loan;
  
	
  
 
  	
  
 
  
	
   
  	
  
          (xii)         a   copy of any letter of credit and related transfer documents relating to such   Mortgage Loan;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (xiii)        copies   of any management agreements and applicable transfer or assignment documents;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (xiv)        copies   of any cash management agreements and applicable transfer or assignment   documents;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (xv)         copies   of franchise agreements and franchisor comfort letters, if any, for   hospitality properties and applicable transfer or assignment documents; and
  
	
  
 
  	
  
 
  
	
   
  	
  
          (xvi)        with   respect to any Companion Loan, all of the above documents with respect to   such Companion Loan and the related Intercreditor Agreement; provided that a copy of each Mortgage   Note relating to such Companion Loan, rather than the original, shall be   provided, and no assignments shall be provided;
  




                      provided that whenever the term “Mortgage File” is used to refer to documents actually received by the Trustee or by a Custodian on its behalf, such term shall not be deemed to include such documents required to be included therein unless they are actually so received, and with respect to any receipt or certification by the Trustee or the Custodian for documents described in clauses (vi) and (ix) through and including (xv) of this definition, shall be deemed to include only such documents to the extent the Trustee or Custodian has actual knowledge of their existence.


                      Notwithstanding the foregoing, with respect to the 2007-C30 Serviced Mortgage Loans, the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan and the GECMC 2007-C1 Serviced Mortgage Loan, the “Mortgage File” will consist of the items specified in clause (i) above, and a photocopy of each additional document in the Mortgage File held by the 2007-C30 Trustee, the Morgan Stanley 2007-IQ14 Trustee or the GECMC 2007-C1 Trustee, respectively.


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                    “Mortgage Loan”:  Each of the mortgage loans transferred and assigned to the Trust Fund pursuant to Section 2.01 and listed on the Mortgage Loan Schedule and from time to time held in the Trust Fund.  As used herein, the term “Mortgage Loan” includes the related Mortgage Note, Mortgage, and other security documents contained in the related Mortgage File.  Unless otherwise indicated, as used in this Agreement, the term “Mortgage Loan” does not include any Companion Loan.


                    “Mortgage Loan Purchase Agreement”:  Each of the Wachovia Mortgage Loan Purchase Agreement, the BCRE Mortgage Loan Purchase Agreement and the Nomura Mortgage Loan Purchase Agreement, individually or collectively, as the context may require.


                    “Mortgage Loan Schedule”:  The list of Mortgage Loans transferred on the Closing Date to the Trustee as part of REMIC I, attached hereto as Exhibit B and in a computer readable format.  Such list shall set forth the following information with respect to each Mortgage Loan:

	
  
 
  	
  
          (i)          the   Mortgage Loan number;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (ii)         the   street address (including city, county, state and zip code) and name of the   related Mortgaged Property;
  
	
  
 
  	
  
 
  
	
   
  	
  
          (iii)        the   Cut-Off Date Balance;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (iv)        the   amount of the Periodic Payment due on the first Due Date following the   Closing Date;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (v)         the   original Mortgage Rate;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (vi)        the   (A) original term to stated maturity, (B) remaining term to stated   maturity and (C) the Stated Maturity Date and, in the case of an ARD   Loan, the Anticipated Repayment Date;
  
	
  
 
  	
  
 
  
	
   
  	
  
          (vii)       in   the case of a Balloon Mortgage Loan, the remaining amortization term;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (viii)      the   original and remaining amortization term;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (ix)        whether   the Mortgage Loan is secured by a Ground Lease;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (x)         the   Master Servicing Fee Rate;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (xi)        whether   such Mortgage Loan is an ARD Loan and if so the Anticipated Repayment Date   and Additional Interest Rate for such ARD Loan;
  
	
   
  	
  
 
  
	
  
 
  	
  
          (xii)       the   related Mortgage Loan Seller;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (xiii)      whether   such Mortgage Loan is insured by an environmental policy;
  




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          (xiv)      whether   such Mortgage Loan is cross-defaulted or cross-collateralized with any other   Mortgage Loan;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (xv)       whether   such Mortgage Loan is a Defeasance Loan;
  
	
   
  	
  
 
  
	
  
 
  	
  
          (xvi)      whether   the Mortgage Loan is secured by a letter of credit;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (xvii)     whether   such Mortgage Loan is an Interest Reserve Loan;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (xviii)    whether   payments on such Mortgage Loan are made to a lock-box;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (xix)      the   amount of any Reserve Funds escrowed in respect of each Mortgage Loan;
  
	
  
 
  	
  
 
  
	
   
  	
  
          (xx)       the   number of units or square feet related to the Mortgaged Property;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (xxi)      the   number of grace days after the Due Date until Periodic Payments incur late   payment charges; and
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (xxii)     the   applicable Loan Group to which such Mortgage Loan belongs.
  




                    “Mortgage Loan Seller”:  Each of Wachovia, Nomura and BCRE, as the context may require, or their respective successors in interest, individually or collectively as the context may require.


                    “Mortgage Note”:  The original executed note evidencing the indebtedness of a Mortgagor under a Mortgage Loan or Companion Loan, together with any rider, addendum or amendment thereto, or any renewal, substitution or replacement of such note.


                    “Mortgage Pool”:  Collectively, all of the Mortgage Loans and any successor REO Loans.


                    “Mortgage Rate”:  With respect to (i) any Mortgage Loan on or prior to its Stated Maturity Date, the fixed annualized rate, not including any Additional Interest Rate, at which interest is scheduled (in the absence of a default) to accrue on such Mortgage Loan from time to time in accordance with the related Mortgage Note and applicable law; (ii) any Mortgage Loan after its Stated Maturity Date, the annualized rate described in clause (i) above determined without regard to the passage of such Stated Maturity Date, but giving effect to any modification thereof as contemplated by Section 3.20; and (iii) any REO Loan, the annualized rate described in clause (i) or (ii), as applicable, above determined as if the predecessor Mortgage Loan had remained outstanding; provided,
however, if any Mortgage Loan does not accrue interest on the basis of a 360-day year consisting of twelve 30-day months, then, solely for purposes of calculating the Pass-Through Rates, the Mortgage Rate of such Mortgage Loan for any one-month period preceding a related Due Date will be the annualized rate at which interest would have to accrue in respect of such Mortgage Loan on the basis of a 360-day year consisting of twelve 30-day months in order to produce the aggregate amount of interest actually accrued (exclusive of Penalty Interest or Additional Interest) in respect of such Mortgage Loan during


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such one-month period at the related Mortgage Rate; provided, however, solely for the purposes of calculating the Pass-Through Rates, with respect to each Interest Reserve Loan, the Mortgage Rate for the one-month period (A) preceding the Due Dates that occur in January and February in any year which is not a leap year or preceding the Due Date that occurs in February in any year which is a leap year will be determined exclusive of the Interest Reserve Amounts for such months (in either case, unless such Due Date occurs in a January or February in which the final Distribution Date occurs), and (B) preceding the Due Date in March, and in the event the final Distribution Date occurs in February, preceding the Due Date in such February, will be determined inclusive of the Interest Reserve Amounts for the immediately preceding February and, if applicable, January; provided, further, if the Mortgage Rate of the related Mortgage
Loan has been modified in connection with a bankruptcy or similar proceeding involving the related Mortgagor or a modification, waiver or amendment granted or agreed to by the Special Servicer pursuant to Section 3.20, solely for purposes of calculating the Pass-Through Rate, the Mortgage Rate for such Mortgage Loan shall be calculated without regard to such event.


                    “Mortgaged Property”:  The property subject to the lien of a Mortgage.


                    “Mortgagor”:  The obligor or obligors on a Mortgage Note, including without limitation, any Person that has acquired the related Mortgaged Property and assumed the obligations of the original obligor under the Mortgage Note and/or, in the case of an indemnity deed of trust, the entity which granted the lien on such Mortgaged Property.


                    “Net Aggregate Prepayment Interest Shortfall”:  With respect to any Distribution Date, the amount, if any, by which (a) the aggregate of all Prepayment Interest Shortfalls incurred in connection with the receipt of Principal Prepayments on the Mortgage Loans during the related Collection Period, exceeds (b) the aggregate amount deposited by the Master Servicer in the Certificate Account for such Distribution Date pursuant to Section 3.19(a) in connection with such Prepayment Interest Shortfalls on the Mortgage Loans.  For purposes of calculating the Prepayment Interest Shortfall with respect to the Beacon D.C. & Seattle Pool Loan, such Prepayment Interest Shortfall will be calculated with respect to each of, and allocated pro rata among, the promissory notes related to the Beacon D.C. &
Seattle Pool Loan and the Beacon D.C. & Seattle Pool Pari Passu Companion Loans.  The portion of such shortfall allocated to the Beacon D.C. & Seattle Pool Loan, net of amounts payable by the Morgan Stanley 2007-IQ14 Master Servicer, will be included in the Net Aggregate Prepayment Interest Shortfall.  For purposes of calculating the Prepayment Interest Shortfall with respect to the 2007-C30 Serviced Mortgage Loans, the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan and the GECMC 2007-C1 Serviced Mortgage Loan, Prepayment Interest Shortfalls will be allocated in accordance with the 2007-C30 Pooling and Servicing Agreement, the Morgan Stanley 2007-IQ14 Pooling and Servicing Agreement or the GECMC 2007-C1 Pooling and Servicing Agreement, respectively, and the related Intercreditor Agreement.  The portion of such shortfall allocated to the 2007-C30 Serviced Mortgage Loans, the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan or the GECMC 2007-C1 Serviced Mortgage Loan, net of
amounts payable by the 2007-C30 Master Servicer, the Morgan Stanley 2007-IQ14 Master Servicer or the GECMC 2007-C1 Master Servicer, as applicable, will be included in the Net Aggregate Prepayment Interest Shortfall.  For purposes of calculating the Prepayment Interest Shortfall with respect to the Peter Cooper Village & Stuyvesant Town Loan in the event the Peter Cooper Village & Stuyvesant Town Future Pari Passu Companion Loan is advanced, Prepayment Interest Shortfalls will be


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allocated pro rata between the Peter Cooper Village & Stuyvesant Town Loan, the Peter Cooper Village & Stuyvesant Town Pari Passu Companion Loans and the Peter Cooper Village & Stuyvesant Town Future Pari Passu Companion Loan.  The portion of such shortfall allocated to the Peter Cooper Village & Stuyvesant Town Loan, net of amounts payable by the 2007-C30 Master Servicer, will be included in the Net Aggregate Prepayment Interest Shortfall.  For purposes of calculating the Prepayment Interest Shortfall with respect to the Co-Lender Loans (other than the Non-Serviced Mortgage Loans), Prepayment Interest Shortfalls will be allocated, first, to the promissory note evidencing the related Subordinate Companion Loans, if any, and second, to the promissory note evidencing the related Co-Lender Loan.  The portion of such shortfall allocated to the Co-Lender Loans (other than the 2007-C30 Serviced Mortgage Loans, the Morgan Stanley
2007-IQ14 Serviced Mortgage Loan and the GECMC 2007-C1 Serviced Mortgage Loan), net of amounts payable to the Master Servicer, will be included in the Net Aggregate Prepayment Interest Shortfall.


                    “Net Investment Earnings”:  With respect to (i) the Certificate Account, any Servicing Account, any Special Reserve Account, any Reserve Account or the REO Account (if any) for any Collection Period and (ii) the Distribution Account, the Interest Reserve Account, the Additional Interest Account, the Floating Rate Account and the Companion Distribution Account (if any) for the related Distribution Date, the amount, if any, by which the aggregate of all interest and other income realized during such Collection Period with respect to the accounts described in clause (i) above and as of such related Distribution Date with respect to the accounts described in clause (ii) above on funds held in such accounts, exceeds the aggregate of all losses, if any, incurred during such Collection Period with
respect to the accounts described in clause (i) above and as of such related Distribution Date with respect to the accounts described in clause (ii) above in connection with the investment of such funds in accordance with Section 3.06.


                    “Net Investment Loss”:  With respect to (i) the Certificate Account, any Servicing Account, any Special Reserve Account, any Reserve Account or the REO Account (if any) for any Collection Period and (ii) the Distribution Account, the Interest Reserve Account, the Additional Interest Account, the Floating Rate Account and the Companion Distribution Account (if any) for the related Distribution Date, the amount by which the aggregate of all losses, if any, incurred during such Collection Period with respect to the accounts described in clause (i) above and as of such related Distribution Date with respect to the accounts described in clause (ii) above in connection with the investment of funds held in such accounts in accordance with Section 3.06, exceeds the aggregate of all interest and
other income realized during such Collection Period with respect to the accounts described in clause (i) above and as of such related Distribution Date with respect to the accounts described in clause (ii) above on such funds.


                    “Net Mortgage Rate”:  With respect to any Mortgage Loan or any REO Loan, as of any date of determination, a rate per annum equal to the related Mortgage Rate minus the sum of the Trustee Fee Rate and the applicable Master Servicing Fee Rate.


                    “Net Operating Income” or “NOI”:  As defined in and determined in accordance with the provisions of Exhibit E attached hereto.


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                    “Net Swap Payment”:  With respect to the related Interest Accrual Period, the excess, if any of (i) the Fixed Swap Payment over (ii) the Floating Swap Payment.


                    “Net Swap Receipt”:  With respect to the related Interest Accrual Period, the excess, if any of (i) the Floating Swap Payment over (ii) the Fixed Swap Payment.


                    “New Lease”:  Any lease of REO Property (other than with respect to the 2007-C30 Serviced Mortgage Loans, the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan and the GECMC 2007-C1 Serviced Mortgage Loan under the 2007-C30 Pooling and Servicing Agreement, the Morgan Stanley 2007-IQ14 Pooling and Servicing Agreement or the GECMC 2007-C1 Pooling and Servicing Agreement, respectively) entered into at the direction of the Special Servicer on behalf of REMIC I, including any lease renewed, modified or extended on behalf of such REMIC if the Special Servicer has the right to renegotiate the terms of such lease.


                    “NMWHFIT”: shall mean a “Non-Mortgage Widely Held Fixed Investment Trust” as that term is defined in Treasury Regulations section 1.671-5(b)(12) or successor provisions.


                    “Nomura”:  Nomura Credit & Capital, Inc., or its successor in interest.


                    “Nomura Mortgage Loan Purchase Agreement”:  That certain mortgage loan purchase agreement, dated as of May 1, 2007, between the Depositor and Nomura, and relating to the transfer of the Nomura Mortgage Loans to the Depositor.


                    “Nomura Mortgage Loans”:  Each of the Mortgage Loans transferred and assigned to the Depositor pursuant to the Nomura Mortgage Loan Purchase Agreement.


                    “Nonrecoverable Advance”:  Any Nonrecoverable P&I Advance or Nonrecoverable Servicing Advance; provided that Workout-Delayed Reimbursement Amounts shall constitute a Nonrecoverable Advance only when the Person making such determination in accordance with the procedures specified in the definition of Nonrecoverable P&I Advance or Nonrecoverable Servicing Advance, as applicable, and taking into account factors such as all other outstanding Advances, either (a) has determined in accordance with the Servicing Standard or the standards applicable to the Trustee as set forth in the definitions of “Nonrecoverable P&I Advance” and “Nonrecoverable Servicing Advance” that such Workout-Delayed Reimbursement Amounts would not ultimately be recoverable from Late Collections, Insurance
Proceeds or Liquidation Proceeds, or any other recovery on or in respect of the related Mortgage Loan or REO Loan or (b) has determined in accordance with the Servicing Standard or such other applicable standard that such Workout-Delayed Reimbursement Amounts, along with any other Workout-Delayed Reimbursement Amounts and Nonrecoverable Advances, would not ultimately be recoverable from the portion of Late Collections, Insurance Proceeds or Liquidation Proceeds in respect of the pool of the Mortgage Loans or REO Loans allocable to principal, or any other recovery on or in respect of the pool of Mortgage Loans or REO Loans allocable to principal.


                    “Nonrecoverable P&I Advance”:  Any P&I Advance previously made or proposed to be made in respect of any Mortgage Loan or any REO Loan by the Master Servicer or the Trustee, as the case may be, that, as determined by the Master Servicer, the Special


-50-









Servicer or the Trustee, as applicable, in accordance with the Servicing Standard (in the case of the Master Servicer or the Special Servicer), or the standard of care set forth in Section 8.01(a) (with respect to the Trustee), as applicable, with respect to such P&I Advance will not be ultimately recoverable from Late Collections, Insurance Proceeds or Liquidation Proceeds, or any other recovery on or in respect of such Mortgage Loan, Pari Passu Companion Loan or REO Loan; provided that the Master Servicer and the Trustee shall conclusively rely upon any such nonrecoverability determination made by the Special Servicer.


                    “Nonrecoverable Servicing Advance”:  Any Servicing Advance previously made or proposed to be made in respect of a Mortgage Loan, REO Loan or Companion Loan by the Master Servicer, the Special Servicer or the Trustee, as the case may be (other than in respect of a Non-Serviced Mortgage Loan), that, as determined by the Master Servicer, the Special Servicer or the Trustee, as applicable, in accordance with the Servicing Standard (in the case of the Master Servicer or the Special Servicer) or the standard of care set forth in Section 8.01(a) (with respect to the Trustee), as applicable, will not be ultimately recoverable from Late Collections, Insurance Proceeds, Liquidation Proceeds, or any other recovery on or in respect of such Mortgage Loan, REO Loan or Companion Loan, as applicable; provided that the Master
Servicer and the Trustee shall conclusively rely upon any such nonrecoverability determination made by the Special Servicer.


                    “Non-Registered Certificate”:  Unless and until registered under the Securities Act, any Class A-5FL, Class G, Class H, Class J, Class K, Class L, Class M, Class N, Class O, Class P, Class Q, Class S, Class T, Class U, Class IO, Class Z, Class R-I or Class R-II Certificate.


                    “Non-Serviced Companion Loan”:  Each of the Five Times Square Pari Passu Companion Loan, the Five Times Square Subordinate Companion Loan, the Beacon D.C. & Seattle Pool Pari Passu Companion Loans, the 666 Fifth Avenue Pari Passu Companion Loans, the Peter Cooper Village & Stuyvesant Town Pari Passu Companion Loan and the Peter Cooper Village & Stuyvesant Town Future Pari Passu Companion Loan, if advanced.


                    “Non-Serviced Mortgage Loan”:  Each of the Five Times Square Loan, the Beacon D.C. & Seattle Pool Loan, the 666 Fifth Avenue Loan and the Peter Cooper Village & Stuyvesant Town Loan.


                    “Non-Serviced Mortgage Loan Pooling Agreement”:  With respect to each of the Five Times Square Loan and the Peter Cooper Village & Stuyvesant Town Loan, the 2007-C30 Pooling and Servicing Agreement, with respect to the Beacon D.C. & Seattle Pool Loan, the Morgan Stanley 2007-IQ14 Pooling and Servicing Agreement and with respect to the 666 Fifth Avenue Loan, the GECMC 2007-C1 Pooling and Servicing Agreement. 


                    “Non-United States Person”:  Any Person other than a United States Person.


                    “Notional Amount”:  The Class IO Notional Amount.


                    “Oakton Corporate Center Loan”:  That certain Mortgage Loan which is included in the Trust Fund (identified as loan number 89 on the Mortgage Loan Schedule).


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                    “Officer’s Certificate”:  A certificate signed by a Servicing Officer of the Master Servicer or the Special Servicer, as the case may be, or by a Responsible Officer of the Trustee.


                    “Opinion of Counsel”:  A written opinion of counsel (which counsel may be a salaried counsel for the Depositor, the Master Servicer or the Special Servicer) acceptable to and delivered to the Trustee or the Master Servicer, as the case may be, except that any opinion of counsel relating to (a) the qualification of REMIC I or REMIC II as a REMIC; (b) the qualification of the Additional Interest Grantor Trust or the Class A-5FL Grantor Trust as a grantor trust; (c) compliance with the REMIC Provisions or the Grantor Trust Provisions or (d) the resignation of the Master Servicer or the Special Servicer pursuant to Section 6.04 must be an opinion of counsel who is in fact Independent of the Master Servicer, the Special Servicer or the Depositor, as applicable.


                    “Option Price”:  As defined in Section 3.18(c).


                    “Original Class Principal Balance”:  With respect to any Class of Sequential Pay Certificates and the Class A-5FL Regular Interest, the Original Class Principal Balance thereof as of the Closing Date, in each case as specified in the Preliminary Statement.


                    “Original Class IO Notional Amount”:  $5,845,468,231.


                    “OTS”:  The Office of Thrift Supervision or any successor thereto.


                    “Ownership Interest”:  As to any Certificate, any ownership or security interest in such Certificate as the Holder thereof and any other interest therein, whether direct or indirect, legal or beneficial, as owner or as pledgee.


                    “P&I Advance”:  As to any Mortgage Loan or REO Loan, any advance made by the Master Servicer or the Trustee pursuant to Section 4.03(a) and (b), as applicable.


                    “P&I Advance Date”:  The Business Day immediately preceding each Distribution Date.


                    “Pari Passu Companion Loans”:  The Five Times Square Pari Passu Companion Loans, the Beacon D.C. & Seattle Pool Pari Passu Companion Loans, the 666 Fifth Avenue Pari Passu Companion Loans, the Peter Cooper Village & Stuyvesant Town Pari Passu Companion Loans and the Peter Cooper Village & Stuyvesant Town Future Pari Passu Companion Loan, if advanced.


                    “Pari Passu Mortgage Loans”:  The Five Times Square Loan, the Beacon D.C. & Seattle Pool Loan, the 666 Fifth Avenue Loan, and the Peter Cooper Village & Stuyvesant Town Loan.


                    “Pass-Through Rate”:  With respect to:

	
  
 
  	
  
          (i)          the   Class A-1 Certificates for any Distribution Date, 5.140% per annum;
  




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          (ii)          the   Class A-2 Certificates for any Distribution Date, 5.421% per annum;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (iii)         the   Class A-3 Certificates for any Distribution Date, 5.483% per annum;
  
	
   
  	
  
 
  
	
  
 
  	
  
          (iv)         the   Class A-PB Certificates for any Distribution Date, 5.450% per annum;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (v)          the   Class A-4 Certificates for any Distribution Date, 5.509% per annum;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (vi)         the   Class A-5 Certificates for any Distribution Date, 5.500% per annum;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (vii)        the   Class A-5FL Certificates (A) for any Distribution Date on which a Class A-5FL   Distribution Conversion has not occurred and is not continuing, a per annum rate equal to LIBOR plus 0.210% and (B) for any Distribution   Date on which a Class A-5FL Distribution Conversion has occurred and is   continuing, 5.444% per annum;
  
	
   
  	
  
 
  
	
  
 
  	
  
          (viii)       the   Class A-5FL Regular Interest for any Distribution Date, 5.444% per annum;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (ix)         the   Class A-1A Certificates for any Distribution Date, the lesser of (1)   5.498% per annum and (2) the   Weighted Average Net Mortgage Rate for such date;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (x)          the   Class A-M Certificates for any Distribution Date, the lesser of (1)   5.591% per annum and (2) the   Weighted Average Net Mortgage Rate for such date;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (xi)         the   Class A-J Certificates for any Distribution Date, the lesser of (1)   5.660% per annum and (2) the   Weighted Average Net Mortgage Rate for such date;
  
	
   
  	
  
 
  
	
  
 
  	
  
          (xii)        the   Class B Certificates for any Distribution Date, the lesser of (1) 5.700%   per annum and (2) the Weighted   Average Net Mortgage Rate for such date;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (xiii)       the   Class C Certificates for any Distribution Date, the Weighted Average Net   Mortgage Rate for such date minus   0.085%;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (xiv)       the   Class D Certificates for any Distribution Date, the Weighted Average Net   Mortgage Rate for such date minus   0.025%;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (xv)        the   Class E Certificates for any Distribution Date, the Weighted Average Net   Mortgage Rate for such date;
  



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          (xvi)          the   Class F Certificates for any Distribution Date, the Weighted Average Net   Mortgage Rate for such date;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (xvii)         the   Class G Certificates for any Distribution Date, the Weighted Average Net   Mortgage Rate for such date;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (xviii)        the   Class H Certificates for any Distribution Date, the Weighted Average Net   Mortgage Rate for such date;
  
	
  
 
  	
  
 
  
	
   
  	
  
          (xix)          the   Class J Certificates for any Distribution Date, the Weighted Average Net   Mortgage Rate for such date;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (xx)           the   Class K Certificates for any Distribution Date, the Weighted Average Net   Mortgage Rate for such date;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (xxi)          the   Class L Certificates for any Distribution Date, 5.134% per annum;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (xxii)         the   Class M Certificates for any Distribution Date, 5.134% per annum;
  
	
  
 
  	
  
 
  
	
   
  	
  
          (xxiii)        the   Class N Certificates for any Distribution Date, 5.134% per annum;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (xxiv)        the   Class O Certificates for any Distribution Date, 5.134% per annum;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (xxv)         the   Class P Certificates for any Distribution Date, 5.134% per annum;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (xxvi)        the   Class Q Certificates for any Distribution Date, 5.134% per annum;
  
	
  
 
  	
  
 
  
	
   
  	
  
          (xxvii)       the   Class S Certificates for any Distribution Date, 5.134% per annum;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (xxviii)      the   Class T Certificates for any Distribution Date, 5.134% per annum;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (xxix)        the   Class U Certificates for any Distribution Date, the lesser of (1) 5.134% per annum and (2) the Weighted Average   Net Mortgage Rate for such date; and
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (xxx)         the   Class IO Certificates for the initial Distribution Date, 0.431% per annum, and for any subsequent   Distribution Date, the weighted average of the Class IO Strip Rates for   the respective Class IO Components for such Distribution Date (weighted   on the basis of the respective Component Notional Amounts of such Components   outstanding immediately prior to such Distribution Date).
  



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                    “Paying Agent”:  The paying agent appointed pursuant to Section 8.16.  If no such paying agent has been appointed or if such paying agent has been so appointed but the Trustee has terminated such appointment, then the Trustee shall be the Paying Agent.


                    “Penalty Interest”:  With respect to any Mortgage Loan or Companion Loan (or successor REO Loan), any amounts collected thereon, other than late payment charges, Additional Interest, Prepayment Premiums or Yield Maintenance Charges, that represent penalty interest (arising out of a default) in excess of interest on the Stated Principal Balance of such Mortgage Loan or Companion Loan (or successor REO Loan) accrued at the related Mortgage Rate.


                    “Percentage Interest”:  With respect to any Regular Certificate or the Class A-5FL Certificates, the portion of the relevant Class evidenced by such Certificate, expressed as a percentage, the numerator of which is the Certificate Principal Balance or Certificate Notional Amount, as the case may be, of such Certificate as of the Closing Date, as specified on the face thereof, and the denominator of which is the Original Class Principal Balance or Original Notional Amount, as the case may be, of the relevant Class.  With respect to a Residual Certificate or Class Z Certificate, the percentage interest in distributions to be made with respect to the relevant Class, as stated on the face of such Certificate.


                    “Periodic Payment”:  With respect to any Mortgage Loan or Companion Loan as of any Due Date, the scheduled payment of principal and/or interest on such Mortgage Loan or Companion Loan (exclusive of Additional Interest), including any Balloon Payment, that is actually payable by the related Mortgagor from time to time under the terms of the related Mortgage Note (as such terms may be changed or modified in connection with a bankruptcy or similar proceeding involving the related Mortgagor or by reason of a modification, waiver or amendment granted or agreed to by the Special Servicer pursuant to Section 3.20).


                    “Permitted Investments”:  Any one or more of the following obligations or securities (including obligations or securities of the Trustee if otherwise qualifying hereunder):

	
  
 
  	
  
          (i)          direct   obligations of, or obligations fully guaranteed as to timely payment of   principal and interest by, the United States of America or any agency or   instrumentality thereof (having original maturities of not more than 365   days); provided such   obligations are backed by the full faith and credit of the United States of   America.  Such obligations must be   limited to those instruments that have a predetermined fixed dollar amount of   principal due at maturity that cannot vary or change or be liquidated prior   to maturity.  Interest may either be   fixed or variable.  If such interest   is variable, interest must be tied to a single interest rate index plus a single fixed spread (if any), and   move proportionately with that index;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (ii)          repurchase   obligations with respect to any security described in   clause (i) above (having original maturities of not more than 365   days); provided that the   short-term deposit or debt obligations, of the party agreeing to repurchase   such obligations are rated in the highest rating categories of each of Fitch,   Moody’s and S&P or such lower rating as will not result in qualification,
  



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downgrading   or withdrawal of the ratings then assigned to the Certificates, as evidenced   in writing by the Rating Agencies.  In   addition, its terms must have a predetermined fixed dollar amount of   principal due at maturity that cannot vary or change.  Interest may either be fixed or   variable.  If such interest is   variable, interest must be tied to a single interest rate index plus a single fixed spread (if any), and   move proportionately with that index;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (iii)          certificates   of deposit, time deposits, demand deposits and bankers’ acceptances of any   bank or trust company organized under the laws of the United States of   America or any state thereof (having original maturities of not more than 365   days), the short term obligations of which are rated in the highest rating   categories of each of Fitch, Moody’s and S&P or such lower rating as will   not result in qualification, downgrading or withdrawal of the ratings then   assigned to the Certificates, as evidenced in writing by the Rating   Agencies.  In addition, its terms   should have a predetermined fixed dollar amount of principal due at maturity   that cannot vary or change.  In   addition, its terms must have a predetermined fixed dollar amount of   principal due at maturity that cannot vary or change. 
Interest may either be fixed or   variable.  If such interest is   variable, interest must be tied to a single interest rate index plus a single fixed spread (if any), and   move proportionately with that index;
  
	
   
  	
  
 
  
	
  
 
  	
  
          (iv)          commercial   paper (having original maturities of not more than 365 days) of any   corporation incorporated under the laws of the United States of America or   any state thereof (or if not so incorporated, the commercial paper is United   States Dollar denominated and amounts payable thereunder are not subject to   any withholding imposed by any non-United States jurisdiction) which is rated   in the highest rating category of each of Fitch, Moody’s and S&P or such   lower rating as will not result in qualification, downgrading or withdrawal   of the ratings then assigned to the Certificates, as evidenced in writing by   the Rating Agencies.  The commercial   paper by its terms must have a predetermined fixed dollar amount of principal   due at maturity that cannot vary or change.    Interest may either be fixed or
variable.  If such interest is variable, interest must be tied to a single   interest rate index plus a   single fixed spread (if any), and move proportionately with that index;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (v)          units   of money market funds that maintain a constant asset value and which, if   rated, are rated in the highest applicable rating category by Fitch and   Moody’s and which are rated “AAAm” or “AAAm G” by S&P (or such lower   rating as will not result in qualification, downgrading or withdrawal of the   ratings then assigned to the Certificates, as evidenced in writing by the   Rating Agencies) and which seeks to maintain a constant net asset value.  In addition, its terms must have a   predetermined fixed dollar amount of principal due at maturity that cannot   vary or change; and
  
	
   
  	
  
 
  
	
  
 
  	
  
          (vi)          any   other obligation or security that constitutes a “cash flow investment” within   the meaning of Section 860G(a)(6) of the Code and is acceptable to each   Rating Agency, evidence of which acceptability shall be 
  




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provided in   writing by each Rating Agency to the Master Servicer, the Special Servicer   and the Trustee; provided, however, in no event shall such other   obligation or security be rated less than “AA+/F1”, “Aa3/P+” or “AA/A-1” by   Fitch, Moody’s or S&P, respectively;
  




                    provided that (1) no investment described hereunder shall evidence either the right to receive (x) only interest with respect to such investment or (y) a yield to maturity greater than 120% of the yield to maturity at par of the underlying obligations; and (2) no investment described hereunder may be purchased at a price greater than par if such investment may be prepaid or called at a price less than its purchase price prior to stated maturity.


                    “Permitted Transferee”:  Any Transferee of a Residual Certificate other than a (i) Disqualified Organization, (ii) a Plan, (iii) a Disqualified Non-United States Person, (iv) a United States Person treated as a partnership for federal income tax purposes, any partner of which, directly or indirectly (except through a U.S. corporation), is (or is permitted under the related partnership agreement to be) a Disqualified Non-United States Person, or (v) a United States Person with respect to whom income on the Residual Certificate is allocable to a foreign permanent establishment or fixed base, within the meaning of an applicable income tax treaty, of such Person or any other United States Person.


                    “Person”:  Any individual, corporation, partnership, joint venture, association, joint-stock company, limited liability company, trust, unincorporated organization or government or any agency or political subdivision thereof.


                    “Peter Cooper Village & Stuyvesant Town Loan”:  That certain Mortgage Loan which is included in the Trust Fund (identified as loan number 5 on the Mortgage Loan Schedule).


                    “Peter Cooper Village & Stuyvesant Town Future Pari Passu Loan”:  That certain pari passu mortgage loan, if entered into between the related Borrower and a lender in accordance with the terms of the related Mortgage Loan documents; provided however, this shall not include any mezzanine debt permitted in the future under the related Mortgage Loan documents.


                    “Peter Cooper Village & Stuyvesant Town Pari Passu A-1 Companion Loan”:  That certain mortgage loan evidenced by a note, which is not an asset of the Trust Fund, secured by the Mortgaged Property securing the Peter Cooper Village & Stuyvesant Town Loan and pari passu in right of entitlement with the Peter Cooper Village & Stuyvesant Town Loan.


                    “Peter Cooper Village & Stuyvesant Town Pari Passu A-2 Companion Loan”:  That certain mortgage loan evidenced by a note, which is not an asset of the Trust Fund, secured by the Mortgaged Property securing the Peter Cooper Village & Stuyvesant Town Loan and pari passu in right of entitlement with the Peter Cooper Village & Stuyvesant Town Loan.


                    “Peter Cooper Village & Stuyvesant Town Pari Passu A-4 Companion Loan”:  That certain mortgage loan evidenced by a note, which is not an asset of the Trust Fund, secured by the Mortgaged Property securing the Peter Cooper Village & Stuyvesant Town Loan and pari passu in right of entitlement with the Peter Cooper Village & Stuyvesant Town Loan.


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                    “Peter Cooper Village & Stuyvesant Town Pari Passu A-5 Companion Loan”:  That certain mortgage loan evidenced by a note, which is not an asset of the Trust Fund, secured by the Mortgaged Property securing the Peter Cooper Village & Stuyvesant Town Loan and pari passu in right of entitlement with the Peter Cooper Village & Stuyvesant Town Loan.


                    “Peter Cooper Village & Stuyvesant Town Pari Passu A-6 Companion Loan”:  That certain mortgage loan evidenced by a note, which is not an asset of the Trust Fund, secured by the Mortgaged Property securing the Peter Cooper Village & Stuyvesant Town Loan and pari passu in right of entitlement with the Peter Cooper Village & Stuyvesant Town Loan.


                    “Peter Cooper Village & Stuyvesant Town Pari Passu Intercreditor Agreement”:  The Intercreditor and Servicing Agreement, dated as of November 17, 2006, by and between Wachovia, as Lead Lender, Wachovia, as A-2 Lender, Wachovia, as A-3 Lender, Wachovia, as A-4 Lender, Merrill Lynch Mortgage Lending, Inc., as A-5 Lender, and Merrill Lynch Mortgage Lending, Inc., as A-6 Lender, relating to the Peter Cooper Village & Stuyvesant Town Whole Loan.


                    “Peter Cooper Village & Stuyvesant Town Pari Passu Companion Loans”:  Collectively, the Peter Cooper Village & Stuyvesant Town Pari Passu A-1 Companion Loan, the Peter Cooper Village & Stuyvesant Town Pari Passu A-2 Companion Loan, the Peter Cooper Village & Stuyvesant Town Pari Passu A-4 Companion Loan, the PeterCooper Village & Stuyvesant Town Pari Passu A-5 Companion Loan and the Peter CooperVillage & Stuyvesant Town Pari Passu A-6 Companion Loan.


                    “Peter Cooper Village & Stuyvesant Town Whole Loan”:  The Peter Cooper Village & Stuyvesant Town Loan, together with the Peter Cooper Village & Stuyvesant Town Pari Passu Companion Loans and the Peter Cooper Village & Stuyvesant Town Future Pari Passu Loan if advanced.


                    “Plan”:  As defined in Section 5.02(c).


                    “Plurality Residual Certificateholder”:  As to any taxable year of (i) REMIC I or (ii) REMIC II, the Holder of Certificates holding the largest Percentage Interest of the related Class of Residual Certificates.


                    “Preliminary Memorandum”:  As defined in the Mortgage Loan Purchase Agreement.


                    “Preliminary Prospectus Supplement”:  As defined in the Mortgage Loan Purchase Agreement.


                    “Prepayment Assumption”:  For purposes of determining the accrual of original issue discount, market discount and premium, if any, on the Certificates for federal income tax purposes, 0% CPR (within the meaning of the Prospectus), except that it is assumed that each ARD Loan is repaid on its Anticipated Repayment Date.


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                    “Prepayment Interest Excess”:  With respect to any Mortgage Loan that was subject to a Principal Prepayment in full or in part during any Collection Period, which Principal Prepayment was applied to such Mortgage Loan following such Mortgage Loan’s Due Date in such Collection Period, the amount of interest (net of the related Master Servicing Fee and, if applicable, the Additional Interest) accrued on the amount of such Principal Prepayment during the period from and after such Due Date and ending on the date such Principal Prepayment was applied to such Mortgage Loan, to the extent collected (exclusive of any related Prepayment Premium or Yield Maintenance Charge actually collected).


                    “Prepayment Interest Shortfall”:  With respect to any Mortgage Loan that was subject to a Principal Prepayment in full or in part during any Collection Period, which Principal Prepayment was applied to such Mortgage Loan prior to such Mortgage Loan’s Due Date in such Collection Period, the amount of interest, to the extent not collected from the related Mortgagor (without regard to any Prepayment Premium or Yield Maintenance Charge actually collected), that would have accrued at a rate per annum equal to the sum of (x) the related Net Mortgage Rate for such Mortgage Loan and (y) the Trustee Fee Rate on the amount of such Principal Prepayment during the period commencing on the date as of which such Principal Prepayment was applied to such Mortgage Loan and ending on the day immediately preceding such
Due Date, inclusive.


                    “Prepayment Premium”:  Any premium, penalty or fee (other than a Yield Maintenance Charge) paid or payable, as the context requires, by a Mortgagor in connection with a Principal Prepayment.


                    “Primary Collateral”:  With respect to any Crossed Loan, that portion of the Mortgaged Property designated as directly securing such Crossed Loan and excluding any Mortgaged Property as to which the related lien may only be foreclosed upon by exercise of the cross-collateralization provisions of such Crossed Loan.


                    “Prime Rate”:  The “prime rate” published in the “Money Rates” section of The Wall Street Journal, as such “prime rate” may change from time to time.  If The Wall Street Journal ceases to publish the “prime rate,” then the Master Servicer shall select an equivalent publication that publishes such “prime rate”; and if such “prime rate” is no longer generally published or is limited, regulated or administered by a governmental or quasi-governmental body, then the Master Servicer shall select a comparable interest rate index.  In either case, such selection shall be made by the Master Servicer in its reasonable discretion and the Master Servicer shall notify the Trustee and the Special Servicer in writing of its selection.


                    “Principal Distribution Amount”:  With respect to any Distribution Date, the aggregate of the following:

	
  
 
  	
  
          (a)          the   aggregate of the principal portions of all Scheduled Payments (other than   Balloon Payments) and any Assumed Scheduled Payments due or deemed due in   respect of the Mortgage Loans for their respective Due Dates occurring during   the related Collection Period, to the extent not previously received or   advanced with respect to a Distribution Date prior to the related Collection   Period;
  
	
   
  	
  
 
  
	
  
 
  	
  
          (b)          the   aggregate of all Principal Prepayments received on the Mortgage Loans during   the related Collection Period;
  




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          (c)          with   respect to any Mortgage Loan as to which the related Stated Maturity Date   occurred during or prior to the related Collection Period, any payment of   principal (other than a Principal Prepayment) made by or on behalf of the   related Mortgagor during the related Collection Period (including any Balloon   Payment), in each case net of any portion of such payment that represents a   recovery of the principal portion of any Scheduled Payment (other than a   Balloon Payment) due, or the principal portion of any Assumed Scheduled   Payment deemed due, in respect of such Mortgage Loan on a Due Date during or   prior to the related Collection Period and not previously recovered;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (d)          the   aggregate of the principal portion of all Liquidation Proceeds, Insurance   Proceeds and, to the extent not otherwise included in clause (a),   (b) or (c) above, payments that were received on the related Mortgage   Loans during the related Collection Period and that were identified and   applied by the Master Servicer and/or Special Servicer as recoveries of   principal of such Mortgage Loans, in each case net of any portion of such amounts   that represents a recovery of the principal portion of any Scheduled Payment   (other than a Balloon Payment) due, or of the principal portion of any   Assumed Scheduled Payment deemed due, in respect of the related Mortgage Loan   on a Due Date during or prior to the related Collection Period and not   previously recovered;
  
	
   
  	
  
 
  
	
  
 
  	
  
          (e)          with   respect to any REO Properties, the aggregate of the principal portions of all   Assumed Scheduled Payments deemed due in respect of the related REO Loans for   their respective Due Dates occurring during the related Collection Period;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (f)          with   respect to any REO Properties, the aggregate of all Liquidation Proceeds,   Insurance Proceeds and REO Revenues that were received during the related   Collection Period on such REO Properties and that were identified and applied   by the Master Servicer and/or Special Servicer as recoveries of principal of   the related REO Loans, in each case net of any portion of such amounts that   represents a recovery of the principal portion of any Scheduled Payment   (other than a Balloon Payment) due, or of the principal portion of any   Assumed Scheduled Payment deemed due, in respect of the related REO Loan or   the predecessor Mortgage Loan on a Due Date during or prior to the related   Collection Period and not previously recovered;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (g)          if   such Distribution Date is subsequent to the initial Distribution Date, the   excess, if any, of the Principal Distribution Amount for the immediately   preceding Distribution Date, over the aggregate distributions of principal   made on the Sequential Pay Certificates on such immediately preceding   Distribution Date pursuant to Section 4.01;
  
	
   
  	
  
 
  
	
  
 
  	
  
          (h)          any   amounts that were used to reimburse Nonrecoverable Advances (including   interest on such Nonrecoverable Advances) from principal collections on the   Mortgage Loans pursuant to Section 3.05(a) hereof which are subsequently   recovered on the related Mortgage Loan with respect to the Distribution Date   related to the period in which such recovery occurs;
  




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          (i)          any   amounts that were used to reimburse Workout-Delayed Reimbursement Amounts   (including interest on such Workout-Delayed Reimbursement Amounts) from   principal collections on the Mortgage Loans pursuant to Section 3.05(a)   hereof which are subsequently recovered on the related Mortgage Loan with   respect to the Distribution Date related to the period in which such recovery   occurs; less
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (j)          the   amount of any reimbursements of (i) Nonrecoverable Advances (including   interest on such Nonrecoverable Advances) that are paid or reimbursed from   principal collections on the Mortgage Loans pursuant to Section 3.05(a)   hereof with respect to such Distribution Date and (ii) Workout-Delayed   Reimbursement Amounts (including interest on such Workout-Delayed   Reimbursement Amounts) that are paid or reimbursed from principal collections   on the Mortgage Loans pursuant to Section 3.05(a) hereof with respect to   such Distribution Date, in each case where such principal collections would   have otherwise been included in the Principal Distribution Amount for such   Distribution Date.
  




                    “Principal Prepayment”:  Any payment of principal made by the Mortgagor on a Mortgage Loan or Companion Loan that is received in advance of its scheduled Due Date; provided that it shall not include a payment of principal that is accompanied by an amount of interest representing scheduled interest due on any date or dates in any month or months subsequent to the month of prepayment.


                    “Privileged Person”:  Any Certificateholder, Certificate Owner, any Person identified to the Trustee or the Master Servicer, as applicable, as a prospective transferee of a Certificate or interest therein, any Rating Agency, any Mortgage Loan Seller, any Companion Holders, any party hereto, any Underwriter or any designee of the Depositor; provided that no Certificate Owner or prospective transferee of a Certificate or interest therein shall be considered a “Privileged Person” or be entitled to a password or restricted access as contemplated by Section 3.15 or Section 4.02 unless such Person has delivered to the Trustee or the Master Servicer, as applicable, a certification in the form of Exhibit K-1 or Exhibit K-2, as applicable which certification is available on the Trustee’s
Internet Website.


                    “Prohibited Party”:  Any party, in the case of the Master Servicer, the Special Servicer or the Trustee, that is listed on the Depositor’s Do Not Hire List.


                    “Proposed Plan”:  As defined in Section 3.17(a)(iii).


                    “Prospectus”:  The prospectus dated October 19, 2006, as supplemented by the Prospectus Supplement, relating to the Registered Certificates.


                    “Prospectus Supplement”:  The final prospectus supplement, dated May 11, 2007 of the Depositor relating to the registration of the Registered Certificates under the Securities Act.


                    “PTE 95-60”:  As defined in Section 5.02(c).


                    “Purchase Option”:  As defined in Section 3.18(c).


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                    “Purchase Option Notice”:  As defined in Section 3.18(e).


                    “Purchase Price”:  With respect to any Mortgage Loan or REO Loan to be purchased by a Mortgage Loan Seller pursuant to the applicable Mortgage Loan Purchase Agreement, by the Majority Subordinate Certificateholder, the Companion Holder or the Special Servicer as described in Section 3.18(c), 3.18(d) or 3.18(e), or by the Depositor, the Special Servicer, the Majority Subordinate Certificateholder or the Master Servicer pursuant to Section 9.01, a cash price equal to the outstanding principal balance of such Mortgage Loan or REO Loan, as of the date of purchase, together with (a) all accrued and unpaid interest on such Mortgage Loan or REO Loan at the related Mortgage Rate to but not including the Due Date in the Collection Period of purchase plus any accrued interest on P&I Advances made with respect


to such Mortgage Loan, (b) all related and unreimbursed Servicing Advances plus any accrued and unpaid interest thereon, (c) any reasonable costs and expenses, including, but not limited to, the cost of any enforcement action, incurred by the Master Servicer, the Special Servicer or the Trust Fund in connection with any such purchase by a Mortgage Loan Seller (to the extent not included in clause (b) above) and (d) any other Additional Trust Fund Expenses in respect of such Mortgage Loan (including any Additional Trust Fund Expenses previously reimbursed or paid by the Trust Fund but not so reimbursed by the related Mortgagor or other party or from Insurance Proceeds or condemnation proceeds or any other collections in respect of the Mortgage Loan or the related Mortgaged Property from a source other than the Trust Fund), or in the case of any Loan Pair, the purchase price specified in the related Intercreditor Agreement; provided that the Purchase Price shall
not be reduced by any outstanding P&I Advance.


                    “Quail Creek Intercreditor Agreement”: The Intercreditor Agreement, dated as of May 1, 2007, by and between Nomura (in its capacity as initial Note A Holder) and Nomura (in its capacity as initial Note B Holder), relating to the Quail Creek Whole Loan.


                    “Quail Creek Loan”: That certain Mortgage Loan which is included in the Trust Fund (identified as loan number 103 on the Mortgage Loan Schedule).


                    “Quail Creek Subordinate Companion Loan”: That certain mortgage loan evidenced by a note, which is not an asset of the Trust Fund, secured by the Mortgaged Property securing the Quail Creek Loan and subordinate in right of entitlement to the Quail Creek Loan.


                    “Quail Creek Whole Loan”: The Quail Creek Loan, together with the Quail Creek Subordinate Companion Loan.


                    “Qualified Bidder”:  As defined in Section 7.01(c).


                    “Qualified Institutional Buyer”:  A qualified institutional buyer within the meaning of Rule 144A under the Securities Act.


                    “Qualified Insurer”:  An insurance company or security or bonding company qualified to write the related Insurance Policy in the relevant jurisdiction (i) with a minimum insurance financial strength or claims paying ability rating of at least “A” by Fitch, “A3” by Moody’s and “A” by S&P (or the obligations of which are guaranteed or backed by a company having such a claims paying ability), and (ii) with respect to the fidelity bond and errors and omissions Insurance Policy required to be maintained pursuant to Section 3.07(c), an insurance


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company that has a claims paying ability rated no lower than two rating categories (without regard to pluses or minuses or numerical qualifications) below the rating assigned to the then highest rated outstanding Certificate (or, for purposes of general liability insurance only at least “A” by two nationally recognized statistical rating organizations (which must include S&P)), but in no event lower than “A” by Fitch, “A3” by Moody’s or “A” by S&P (or, if not rated by Moody’s, then at least “A” by two other nationally recognized statistical rating organizations (which may include S&P or Fitch)), or, in the case of clauses (i) and (ii), such other rating as each Rating Agency shall have confirmed in writing will not cause such Rating Agency to downgrade, qualify or withdraw the then-current rating assigned to any of the Certificates that are then currently being rated by such Rating
Agency.


                    “Qualified Substitute Mortgage Loan”:  A mortgage loan which must, on the date of substitution:  (i) have an outstanding Stated Principal Balance, after application of all scheduled payments of principal and interest due during or prior to the month of substitution, not in excess of the Stated Principal Balance of the deleted Mortgage Loan as of the Due Date in the calendar month during which the substitution occurs; (ii) have a Mortgage Rate not less than the Mortgage Rate of the deleted Mortgage Loan; (iii) have the same Due Date as the deleted Mortgage Loan; (iv) accrue interest on the same basis as the deleted Mortgage Loan (for example, on the basis of a 360-day year consisting of twelve 30-day months); (v) have a remaining term to stated maturity not greater than, and not more than two
years less than, the remaining term to stated maturity of the deleted Mortgage Loan; (vi) have an original Loan-to-Value Ratio not higher than that of the deleted Mortgage Loan and a current Loan-to-Value Ratio not higher than the then current Loan-to-Value Ratio of the deleted Mortgage Loan; (vii) comply as of the date of substitution with all of the representations and warranties set forth in the applicable Mortgage Loan Purchase Agreement; (viii) have an Environmental Assessment that indicates no adverse environmental conditions with respect to the related Mortgaged Property and which will be delivered as a part of the related Servicing File; (ix) have an original Debt Service Coverage Ratio (calculated to include the additional debt from any encumbrance) of not less than the original Debt Service Coverage Ratio (calculated to include the additional debt from any encumbrance) of the deleted Mortgage Loan and a current Debt Service Coverage Ratio (calculated to include the
additional debt from any encumbrance) of not less than the current Debt Service Coverage Ratio (calculated to include the additional debt from any encumbrance) of the deleted Mortgage Loan; (x) be determined by an Opinion of


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Counsel (at the applicable Mortgage Loan Seller’s expense) to be a “qualified replacement mortgage” within the meaning of Section 860G(a)(4) of the Code; (xi) not have a maturity date after the date two years prior to the Rated Final Distribution Date; (xii) not be substituted for a deleted Mortgage Loan unless the Trustee has received prior confirmation in writing by each Rating Agency that such substitution will not result in the withdrawal, downgrade, or qualification of the rating assigned by the Rating Agency to any Class of Certificates then rated by the Rating Agency (the cost, if any, of obtaining such confirmation to be paid by the Mortgage Loan Seller); (xiii) have a date of origination that is not more than 12 months prior to the date of substitution; (xiv) have been approved by the Controlling Class Representative (or, if there is no Controlling Class Representative then serving, by the Holders of Certificates
representing a majority of the Voting Rights allocated to the Controlling Class); (xv) not be substituted for a deleted Mortgage Loan if it would result in the termination of the REMIC status of REMIC I or REMIC II or the imposition of tax on either of such REMICs other than a tax on income expressly permitted or contemplated to be imposed by the terms of this Agreement, as determined by an Opinion of Counsel (at the applicable Mortgage Loan Seller’s expense); and (xvi) become a part of the same Loan Group as the deleted Mortgage Loan.  In the event that one or more mortgage loans are substituted for one or more deleted Mortgage Loans, then the amounts described in clause (i) shall be determined on the basis of aggregate principal balances and the rates described in clause (ii) above and the remaining term to stated maturity referred to in clause (v) above shall be determined on a weighted average basis; provided that no individual
Mortgage Loan shall have a Net Mortgage Rate that is less than the highest Pass-Through Rate of any Class of Sequential Pay Certificates bearing a fixed rate.  When a Qualified Substitute Mortgage Loan is substituted for a deleted Mortgage Loan, the applicable Mortgage Loan Seller shall certify that the Mortgage Loan meets all of the requirements of the above definition and shall send such certification to the Trustee.  No substitutions will be permitted for the 2007-C30 Serviced Mortgage Loans, the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan or the GECMC 2007-C1 Serviced Mortgage Loan.


                    “Rancho Vista Apartments Intercreditor Agreement”: The Intercreditor Agreement, dated as of May 1, 2007, by and between Nomura (in its capacity as initial Note A Holder) and Nomura (in its capacity as initial Note B Holder), relating to the Rancho Vista Apartments Whole Loan.


                    “Rancho Vista Apartments Loan”: That certain Mortgage Loan which is included in the Trust Fund (identified as loan number 108 on the Mortgage Loan Schedule).


                    “Rancho Vista Apartments Subordinate Companion Loan”: That certain mortgage loan evidenced by a note, which is not an asset of the Trust Fund, secured by the Mortgaged Property securing the Rancho Vista Apartments Loan and subordinate in right of entitlement to the Rancho Vista Apartments Loan.


                    “Rancho Vista Apartments Whole Loan”: The Rancho Vista Apartments Loan, together with the Rancho Vista Apartments Subordinate Companion Loan.


                    “Rated
Final Distribution Date”:  The Distribution Date in April 2047,
the first Distribution Date after the 24th month following the end of the
amortization term for the Mortgage Loan that, as of the Cut-Off Date, has the
longest remaining amortization term (without regard to the related Stated
Maturity Date).


                    “Rating Agency”:  Each of Moody’s and S&P.


                    “Rating Agency Trigger Event”:  The reduction of the Swap Counterparty’s long term ratings below “A3” by Moody’s or “A-” by S&P.


                    “Realized Loss”:  With respect to:  (1) each Defaulted Mortgage Loan (other than the Non-Serviced Mortgage Loans) as to which a Final Recovery Determination has been made, or with respect to any successor REO Loan as to which a Final Recovery Determination has been made as to the related REO Property, an amount (not less than zero) equal to (a) the unpaid principal balance of such Mortgage Loan or REO Loan, as the case may be, as of the commencement of the Collection Period in which the Final Recovery Determination was made, plus (b) without taking into account the amount described in subclause (1)(d) of this definition, all accrued but unpaid interest on such Mortgage Loan or such REO Loan, as the case may be, at


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the related Mortgage Rate to but not including the Due Date in the Collection Period in which the Final Recovery Determination was made (exclusive of any portion thereof that constitutes default interest in excess of the Mortgage Rate, Additional Interest, Prepayment Premiums or Yield Maintenance Charges), plus (c) any related unreimbursed Servicing Advances and any unreimbursed interest on any Advances as of the commencement of the Collection Period in which the Final Recovery Determination was made, together with any new related Servicing Advances made during such Collection Period, minus (d) all payments and proceeds, if any, received in respect of such Mortgage Loan or the REO Property that relates to such REO Loan, as the case may be, during the Collection Period in which such Final Recovery Determination was made; (2) each defaulted Mortgage Loan as to which any portion of the principal or previously accrued interest (other than
Additional Interest and Penalty Interest) payable thereunder was canceled in connection with a bankruptcy or similar proceeding involving the related Mortgagor or a modification, waiver or amendment of such Mortgage Loan granted or agreed to by the Special Servicer pursuant to Section 3.20, the amount of such principal and/or interest so canceled; (3) each Mortgage Loan as to which the Mortgage Rate thereon has been permanently reduced and not recaptured for any period in connection with a bankruptcy or similar proceeding involving the related Mortgagor or a modification, waiver or amendment of such Mortgage Loan granted or agreed to by the Special Servicer pursuant to Section 3.20, the amount of the consequent reduction in the interest portion of each successive Periodic Payment due thereon (each such Realized Loss shall be deemed to have been incurred on the Due Date for each affected Periodic Payment); and (4) each Mortgage Loan for which a Final Recovery Determination has been made, to
the extent not included in clause (1) above, Nonrecoverable Advances (including interest on such Nonrecoverable Advance) to the extent amounts have been paid from the Principal Distribution Amount pursuant to Section 3.05(a) hereof.  With respect to the 666 Fifth Avenue Loan, Realized Losses shall be calculated in accordance with the GECMC 2007-C1 Pooling and Servicing Agreement. Such Realized Losses shall be allocated as provided in the GECMC 2007-C1 Pooling and Servicing Agreement and the 666 Fifth Avenue Pari Passu Intercreditor Agreement and further allocated to the Certificates as provided in Section 4.04 of this Agreement.


                    “Record Date”:  With respect to any Distribution Date, the last Business Day of the month immediately preceding the month in which such Distribution Date occurs.


                    “Registered Certificate”:  Any Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-5, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D, Class E or Class F Certificate.


                    “Regular Certificate”:  Any REMIC II Certificate other than a Class R-II Certificate.


                    “Regulation AB”:  Subpart 229.1100 – Asset Backed Securities (Regulation AB), 17 C.F.R. §§229.1100-229.1123, as such may be amended from time to time, and subject to such clarification and interpretation as have been provided by the Commission in the adopting release (Asset-Backed Securities, Securities Act Release No. 33-8518, 70 Fed. Reg. 1,506-1,631 (Jan. 7, 2005)) or by the staff of the Commission, or as may be provided by the Commission or its staff from time to time.


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                    “Regulation AB Companion Loan Securitization”:  As defined in Section 3.29(a).


                    “Regulation S”:  Regulation S under the Act.


                    “Regulation S Certificate”:  A certificate in the form of Exhibit F attached hereto.


                    “Regulation S Global Certificate”:  A global certificate representing interests in a Class of Certificates as provided in Section 5.02(e), initially sold in offshore transactions in reliance on Regulation S in fully registered form without interest coupons.


                    “Reimbursement Rate”:  The rate per annum applicable to the accrual of interest on Servicing Advances in accordance with Section 3.03(d) and on P&I Advances in accordance with Section 4.03(d), which rate per annum is equal to the Prime Rate.


                    “Release Date”:  The 40th day after the later of (i) commencement of the offering of the Certificates and (ii) the Closing Date.


                    “Relevant Servicing Criteria”:  The Servicing Criteria applicable to the various parties, as set forth on Exhibit S attached hereto.  For clarification purposes, multiple parties can have responsibility for the same Relevant Servicing Criteria.  With respect to a Servicing Participant engaged by the Trustee, the Master Servicer or the Special Servicer, the term “Relevant Servicing Criteria” may refer to a portion of the Relevant Servicing Criteria for each of the Master Servicer, the Special Servicer or the Trustee, as applicable.


                    “REMIC”:  A “real estate mortgage investment conduit” as defined in Section 860D of the Code.


                    “REMIC Administrator”:  The Trustee or any REMIC administrator appointed pursuant to Section 8.14.

                    “REMIC I”:  The segregated pool of assets subject hereto, constituting the primary trust created hereby and to be administered hereunder with respect to which a separate REMIC election is to be made and, consisting of:  (i) all of the Mortgage Loans as from time to time are subject to this Agreement and all payments under and proceeds of such Mortgage Loans received after the Closing Date (excluding all Additional Interest on such Mortgage Loans), together with all documents included in the related Mortgage Files and any related Escrow Payments and Reserve Funds; (ii) all amounts held from time to time with respect to a Mortgage Loan in the Interest Reserve Account, the Certificate Account, the Distribution Account, the Gain-on-Sale Reserve Account, the Interest Shortfall Account and any REO Account;
(iii) any REO Property acquired in respect of a Mortgage Loan to the extent of the Trust Fund’s interest therein (or the Trust Fund’s beneficial interest in the Mortgaged Property securing the 2007-C30 Serviced Mortgage Loans, the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan or the GECMC 2007-C1 Serviced Mortgage Loan acquired under the 2007-C30 Pooling and Servicing Agreement, the Morgan Stanley 2007-IQ14 Pooling and Servicing Agreement and the GECMC 2007-C1 Pooling and Servicing Agreement, respectively); (iv) the rights of the Depositor under Sections 2, 3, 9, 10, 11, 12, 13, 14, 16, 17, 18 and 19 of each of the Mortgage Loan Purchase Agreements with respect to such Mortgage Loans; (v) the rights of the mortgagee under all Insurance Policies with respect to such Mortgage Loans, in each of the foregoing clauses exclusive of the interest of the holder of a Companion Loan therein.

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                    “REMIC I Pass-Through Rate”:  As set forth in the Preliminary Statement.


                    “REMIC I Principal Balance”:  The principal balance of any REMIC I Regular Interest outstanding as of any date of determination.  As of the Closing Date, the REMIC I Principal Balance of each REMIC I Regular Interest shall equal the original REMIC I Principal Balance corresponding to the Corresponding Certificates as set forth in the Preliminary Statement hereto.  On each Distribution Date, the REMIC I Principal Balance of each REMIC I Regular Interest shall be permanently reduced by all distributions of principal deemed to have been made in respect of such REMIC I Regular Interest on such Distribution Date pursuant to Section 4.01(h), and shall be further permanently reduced on such Distribution Date by all Realized Losses and Additional Trust Fund Expenses deemed to
have been allocated thereto on such Distribution Date pursuant to Section 4.04(b) and shall be increased on such Distribution Date by Certificate Deferred Interest deemed to have been allocated thereto on such Distribution Date pursuant to Section 4.04(c).


                    “REMIC I Regular Interest”:  Any of the separate uncertificated beneficial ownership interests in REMIC I issued hereunder, and designated as a “regular interest” in REMIC I, held as an asset of REMIC II and having the original REMIC I Principal Balance and REMIC I Pass-Through Rate as described in the Preliminary Statement hereto.


                    “REMIC II”:  The segregated pool of assets consisting of all of the REMIC I Regular Interests and all amounts held from time to time, to the extent related to REMIC II, in the Distribution Account, conveyed in trust to the Trustee for the benefit of REMIC II, as holder of the REMIC I Regular Interests, and the Holders of the Class R-II Certificates pursuant to Section 2.9, with respect to which a separate REMIC election is to be made.


                    “REMIC II Certificate”:  Any Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-5, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D, Class E, Class F, Class G, Class H, Class J, Class K, Class L, Class M, Class N, Class O, Class P, Class Q, Class S, Class T, Class U, Class IO or Class R-II Certificate.


                    “REMIC Provisions”:  Provisions of the federal income tax law relating to real estate mortgage investment conduits, which appear at Sections 860A through 860G of Subchapter M of Chapter 1 of the Code, and related provisions, and proposed, temporary and final Treasury regulations and any published rulings, notices and announcements promulgated thereunder, as the foregoing may be in effect from time to time.


                    “Rents from Real Property”:  With respect to any REO Property, gross income of the character described in Section 856(d) of the Code.


                    “REO Account”:  A segregated account or accounts created and maintained by the Special Servicer pursuant to Section 3.16 on behalf of the Trustee in trust for the Certificateholders, which shall be entitled “LNR Partners, Inc., as Special Servicer, in trust for the registered holders of Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2007-C31.”


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                    “REO Acquisition”:  The acquisition of any REO Property by the Trust Fund pursuant to Section 3.09.


                    “REO Disposition”:  The sale or other disposition of any REO Property pursuant to Section 3.18(h).


                    “REO Extension”:  As defined in Section 3.16(a).


                    “REO Loan”:  The Mortgage Loan deemed for purposes hereof to be outstanding with respect to each REO Property to the extent of the Trust Fund’s interest therein.  Each REO Loan shall be deemed to be outstanding for so long as the related REO Property remains part of REMIC I and deemed to provide for Periodic Payments of principal and/or interest equal to its Assumed Scheduled Payment and otherwise to have the same terms and conditions as its predecessor Mortgage Loan (such terms and conditions to be applied without regard to the default on such predecessor Mortgage Loan and the acquisition of the related REO Property as part of the Trust Fund).  Each REO Loan shall be deemed to have an initial unpaid principal balance and Stated Principal Balance equal to the unpaid principal balance and Stated Principal
Balance, respectively, of its predecessor Mortgage Loan (or, if applicable, Companion Loan) as of the date of the related REO Acquisition.  All Scheduled Payments (other than a Balloon Payment), Assumed Scheduled Payments (in the case of a Balloon Mortgage Loan delinquent in respect of its Balloon Payment) and other amounts due and owing, or deemed to be due and owing, in respect of the predecessor Mortgage Loan as of the date of the related REO Acquisition, shall be deemed to continue to be due and owing in respect of an REO Loan.  In addition, Nonrecoverable Advances and Unliquidated Advances (including interest on such Nonrecoverable Advances or Unliquidated Advances) with respect to such REO Loan that were paid from collections on the Mortgage Loans and resulted in principal distributed to the Certificateholders being reduced pursuant to Section 3.05(a) hereof, shall be deemed outstanding until recovered or until a Final Recovery Determination is made.  Collections in respect
of each REO Loan (after provision for amounts to be applied to the payment of, or to be reimbursed to the Master Servicer, the Special Servicer or the Trustee for the payment of, the costs of operating, managing, selling, leasing and maintaining the related REO Property or for the reimbursement of the Master Servicer, the Special Servicer or the Trustee for Advances as provided in this Agreement) shall be treated:  first, as a recovery of Nonrecoverable Advances and Unliquidated Advances (including interest on such Nonrecoverable Advances and Unliquidated Advances) with respect to such REO Loan, in each case that relate to Advances that were paid from collections on the Mortgage Loans and resulted in principal distributed to the Certificateholders being reduced pursuant to Section 3.05(a) hereof; second, as a recovery of accrued and unpaid interest on such REO Loan at the related Mortgage Rate to but not including the Due Date in the Collection Period of receipt (exclusive of
any portion thereof that constitutes Additional Interest); third, as a recovery of principal of such REO Loan to the extent of its entire unpaid principal balance; and fourth, in accordance with the normal servicing practices of the Master Servicer, as a recovery of any other amounts due and owing in respect of such REO Loan, including, without limitation, (i) Yield Maintenance Charges, Prepayment Premiums and Penalty Interest and (ii) Additional Interest and other amounts, in that order.  Notwithstanding the foregoing, all amounts payable or reimbursable to the Master Servicer, the Special Servicer or the Trustee in respect of the predecessor Mortgage Loan as of the date of the related REO Acquisition, including, without limitation, any unpaid Servicing Fees and any unreimbursed


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Servicing Advances and P&I Advances, together with any interest accrued and payable to the Master Servicer, the Special Servicer or the Trustee in respect of such Servicing Advances and P&I Advances in accordance with Sections 3.03(d) and 4.03(d), shall continue to be payable or reimbursable to the Master Servicer, the Special Servicer or the Trustee, as the case may be, in respect of an REO Loan pursuant to Section 3.05(a).


                    “REO Property”:  A Mortgaged Property acquired on behalf and in the name of the Trustee (or, in the case of the 2007-C30 Serviced Mortgage Loans, the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan or the GECMC 2007-C1 Serviced Mortgage Loan, the Trust Fund’s beneficial interest in the related Mortgage Property, acquired under the 2007-C30 Pooling and Servicing Agreement, the Morgan Stanley 2007-IQ14 Pooling and Servicing Agreement and the GECMC 2007-C1 Pooling and Servicing Agreement, respectively) for the benefit of the Certificateholders (subject to the related Intercreditor Agreement with respect to a Mortgaged Property securing a Loan Pair) through foreclosure, acceptance of a deed-in-lieu of foreclosure or otherwise in accordance with applicable law in connection with the default or imminent default of a Mortgage
Loan.


                    “REO Revenues”:  All income, rents, profits and proceeds derived from the ownership, operation or leasing of any REO Property.


                    “REO Tax”:  As defined in Section 3.17(a)(i).


                    “Reportable Event”:  As defined in Section 8.17(j).


                    “Reporting Party”:  The Master Servicer, the Special Servicer, the Trustee, an Additional Servicer or a Servicing Participant.


                    “Request for Release”:  A request signed by a Servicing Officer, as applicable, of the Master Servicer in the form of Exhibit D-1 attached hereto or of the Special Servicer in the form of Exhibit D-2 attached hereto.


                    “Required Appraisal”:  With respect to each Required Appraisal Mortgage Loan, an appraisal of the related Mortgaged Property from an Independent Appraiser selected by the Special Servicer.


                    “Required Appraisal Date”:  With respect to any Required Appraisal Mortgage Loan, the earliest date on which any of the items specified in clauses (i) through (vi) of the first paragraph of the definition of Required Appraisal Mortgage Loan occurs.


                    “Required Appraisal Mortgage Loan”:  Other than with respect to the Non-Serviced Mortgage Loans, (i) any Mortgage Loan that is 60 days or more delinquent in respect of any Periodic Payments, (ii) any Mortgage Loan that becomes an REO Loan, (iii) any Mortgage Loan that has been modified by the Special Servicer to reduce the amount of any Periodic Payment (other than a Balloon Payment), (iv) any Mortgage Loan with respect to which a receiver is appointed and continues in such capacity in respect of the related Mortgaged Property, (v) any Mortgage Loan with respect to which a Mortgagor declares bankruptcy or with respect to which the related Mortgagor is subject to a bankruptcy proceeding, (vi) any Mortgage Loan with respect to which any Balloon Payment on such Mortgage Loan has not been paid by
its scheduled maturity date; provided, however, that a Required Appraisal Mortgage Loan will cease to be a Required Appraisal Mortgage Loan:


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          (a)          with   respect to the circumstances described in clauses (i) and   (iii) above, when the related Mortgagor has made three consecutive full   and timely Periodic Payments under the terms of such Mortgage Loan (other   than the Non-Serviced Mortgage Loans) (as such terms may be changed or   modified in connection with a bankruptcy or similar proceeding involving the   related Mortgagor or by reason of a modification, waiver or amendment granted   or agreed to by the Special Servicer pursuant to Section 3.20); and
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (b)          with   respect to the circumstances described in clauses (iv), (v) and   (vi) above, when such circumstances cease to exist in the good faith   reasonable judgment of the Special Servicer and in accordance with the   Servicing Standard, but, with respect to any bankruptcy or insolvency   proceedings described in clauses (iv) and (v), no later than the   entry of an order or decree dismissing such proceeding, and with respect to   the circumstances described in clause (vi) above, no later than the   date that the Special Servicer agrees to an extension pursuant to   Section 3.20 hereof;
  



so long as at that time no circumstance identified in clauses (i) through (vi) above exists that would cause the Mortgage Loan (other than the Non-Serviced Mortgage Loans) to continue to be characterized as a Required Appraisal Mortgage Loan.


                    “Required Appraisal Value”:  An amount equal to 90% of the Appraised Value (net of any prior liens and estimated liquidation expenses and any other downward adjustments the Special Servicer may deem appropriate (without implying any obligation to do so) based upon its review of the Appraisal and such other information as the Special Servicer may deem appropriate) of the Mortgaged Property related to the subject Required Appraisal Mortgage Loan as determined by a Required Appraisal or letter update or internal valuation, if applicable; provided that for purposes of determining any Appraisal Reduction Amount in respect of such Required Appraisal Mortgage Loan, such Appraisal Reduction Amount shall be amended annually to reflect the Required Appraisal Value determined pursuant to any Required Appraisal or letter update
or internal valuation, if applicable, of a Required Appraisal conducted subsequent to the original Required Appraisal performed pursuant to Section 3.09(a).


                    “Reserve Account”:  The account or accounts created and maintained pursuant to Section 3.03(f).


                    “Reserve Funds”:  With respect to any Mortgage Loan (other than the Non-Serviced Mortgage Loans), any amounts delivered by the related Mortgagor to be held in escrow by or on behalf of the mortgagee representing reserves for environmental remediation, repairs, capital improvements, tenant improvements and/or leasing commissions with respect to the related Mortgaged Property.


                    “Residence Inn - Charleston, SC Loan”:  That certain Mortgage Loan which is included in the Trust Fund (identified as loan number 83 on the Mortgage Loan Schedule).


                    “Residual Certificate”:  A Class R-I Certificate or Class R-II Certificate.


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                    “Responsible Officer”:  When used with respect to (i) the initial Trustee, any officer or assistant officer in the Corporate Trust Office of the initial Trustee, and (ii) any successor trustee, any officer or assistant officer in the corporate trust department of the successor trustee, or any other officer or assistant officer of the successor trustee customarily performing functions similar to those performed by any of the above designated officers to whom a particular matter is referred by the successor trustee because of such officer’s knowledge of and familiarity with the particular subject.


                    “Restricted Period”:  The 40-day period prescribed by Regulation S commencing on the later of (a) the date upon which the Certificates are first offered to persons other than the managers and any other distributor (as defined in Regulation S) of the Certificates, and (b) the Closing Date.


                    “Restricted Servicer Reports”:  Each of the CMSA Servicer Watchlist/Portfolio Review Guidelines, CMSA Operating Statement Analysis, CMSA NOI Adjustment Worksheet and CMSA Comparative Financial Status Report.  If a Restricted Servicer Report is filed with the Commission, it shall thereafter be an Unrestricted Servicer Report.


                    “S&P”:  Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc., or its successor in interest.  If neither such Rating Agency nor any successor remains in existence, “S&P” shall be deemed to refer to such other nationally recognized statistical rating agency or other comparable Person designated by the Depositor, notice of which designation shall be given to the Trustee, the Master Servicer and the Special Servicer, and specific ratings of S&P herein referenced shall be deemed to refer to the equivalent ratings of the party so designated.


                    “Sarbanes-Oxley Act”:  The Sarbanes-Oxley Act of 2002 and the rules and regulations of the Commission promulgated thereunder (including any interpretations thereof by the Commission’s staff).


                    “Sarbanes-Oxley Certification”:  A written certification signed by an officer of the Depositor that complies with (i) the Sarbanes-Oxley Act of 2002, as amended from time to time, including all necessary Regulation AB certification requirements, and (ii) Exchange Act Rules 13a-14(d) and 15d-14(d), as in effect from time to time.


                    “Scheduled Payment”:  With respect to any Mortgage Loan, for any Due Date following the Cut-Off Date as of which it is outstanding, the scheduled Periodic Payment of principal and interest (other than Additional Interest) on such Mortgage Loan that is or would be, as the case may be, payable by the related Mortgagor on such Due Date under the terms of the related Mortgage Note as in effect on the Closing Date, without regard to any subsequent change in or modification of such terms in connection with a bankruptcy or similar proceeding involving the related Mortgagor or a modification, waiver or amendment of such Mortgage Loan granted or agreed to by the Special Servicer pursuant to Section 3.20 or acceleration of principal by reason of default, and assuming that each prior Scheduled Payment has been made in a timely
manner.


                    “Securities Act”:  The Securities Act of 1933, as amended.


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                    “Senior Certificate”:  Any Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-5, Class A-5FL, Class A-1A or Class IO Certificate.


                    “Sequential Pay Certificates”:  Any Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-5, Class A-5FL, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D, Class E, Class F, Class G, Class H, Class J, Class K, Class L, Class M, Class N, Class O, Class P, Class Q, Class S, Class T or Class U Certificate.


                    “Servicer Fee Amount”:  With respect to each Sub-Servicer and any date of determination, the aggregate of the products obtained by multiplying, for each Mortgage Loan serviced by such Sub-Servicer, (a) the Stated Principal Balance of such Mortgage Loan as of the end of the immediately preceding Collection Period and (b) the servicing fee rate specified in the related Sub-Servicing Agreement for such Mortgage Loan.  With respect to the Master Servicer and any date of determination, the aggregate of the products obtained by multiplying, for each Mortgage Loan (a) the Stated Principal Balance of such Mortgage Loan as of the end of the immediately preceding Collection Period and (b) the difference between the Master Servicing Fee Rate for such Mortgage Loan over the servicing fee rate (if any) applicable

to such Mortgage Loan as specified in any Sub-Servicing Agreement related to such Mortgage Loan.


                    “Servicer Reports”:  Any of the Restricted Servicer Reports, the Unrestricted Servicer Reports, the CMSA Loan Setup File, the CMSA Loan Periodic Update File, the CMSA Financial File, CMSA Property File, the CMSA Advance Recovery Report, the CMSA Total Loan Report and a report reconciling Penalty Interest and late payment charges collected with interest on Advances and Additional Trust Fund Expenses.


                    “Servicing Account”:  The account or accounts created and maintained pursuant to Section 3.03(a).


                    “Servicing
Advances”:  All customary, reasonable and necessary “out of
pocket” costs and expenses incurred by or on behalf of the Master Servicer,
the Special Servicer or the Trustee in connection with the servicing of a
Mortgage Loan or a Companion Loan (other than the Non-Serviced Mortgage Loans
and their related Companion Loans, as applicable), or in connection with the
administration of any related REO Property, including, but not limited to, the
cost of (a) compliance with the obligations of the Master Servicer and the
Special Servicer, if any, set forth in Section 3.02 and Section 3.03(c), (b) the preservation, insurance, restoration,
protection and management of a Mortgaged Property, including the cost of any
“forced placed” insurance policy purchased by the Master Servicer to
the extent such cost is allocable to a particular Mortgaged Property that the
Master Servicer or the Special Servicer is required to cause to be insured
pursuant to Section 3.07(a), (c) obtaining any Insurance Proceeds or
any Liquidation Proceeds of the nature described in clauses (i) through (v)
of the definition of “Liquidation Proceeds,” (d) any enforcement
or judicial proceedings with respect to a Mortgaged Property, including, without
limitation, foreclosures, (e) any Required Appraisal or other appraisal
expressly required or permitted to be obtained hereunder, (f) the
operation, management, maintenance and liquidation of any such REO Property,
including, without limitation, appraisals and compliance with
Section 3.16(a) (to the extent not covered by available funds in the REO
Account) and Section 3.20(h) (to the extent not paid by the related
Mortgagor) and (g) compliance with the obligations of the Master Servicer
or the Trustee set forth in


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Section 2.03(a) or (b).  Notwithstanding
anything to the contrary, “Servicing Advances” shall not include
allocable overhead of the Master Servicer or the Special Servicer, such as costs
for office space, office equipment, supplies and related expenses, employee
salaries and related expenses and similar internal costs and expenses or costs
and expenses incurred by any such party in connection with its purchase of a
Mortgage Loan or REO Property, or costs or expenses expressly required to be
borne by the Master Servicer or Special Servicer without reimbursement pursuant
to the terms of this Agreement.


                    “Servicing Criteria”:  The “servicing criteria” set forth in Item 1122(d) of Regulation AB.


                    “Servicing Fees”:  With respect to each Mortgage Loan, Companion Loan and REO Loan, the Master Servicing Fee and the Special Servicing Fee.


                    “Servicing File”:  Any documents, certificates, opinions and reports (other than documents required to be part of the related Mortgage File) delivered by the related Mortgagor in connection with, or relating to the origination and servicing of any Mortgage Loan or Companion Loan which are reasonably required for the ongoing administration of the Mortgage Loan and the Companion Loan, including management agreements, cash management agreements, lockbox agreements, franchise agreements, franchise comfort letters (and evidence of required notification of transfer), appraisals, surveys, engineering reports, environmental reports, operation and maintenance (O&M) plans, financial statements, leases, rent rolls and tenant estoppels.


                    “Servicing Officer”:  Any officer or employee of the Master Servicer, the Special Servicer or any Additional Servicer involved in, or responsible for, the administration and servicing of the Mortgage Loans, whose name and specimen signature appear on a list of servicing officers furnished by such party to the Trustee and the Depositor on the Closing Date, as such list may be amended from time to time.


                    “Servicing Participant”:  Any Additional Servicer, Sub-Servicer, Subcontractor or any other Person, other than the Master Servicer, the Special Servicer and the Trustee, that is performing activities addressed by the Servicing Criteria, unless such Person’s activities relate only to 5% or less of the Mortgage Loans.


                    “Servicing-Released Bid”:  As defined in Section 7.01(c).


                    “Servicing-Retained Bid”:  As defined in Section 7.01(c).


                    “Servicing Standard”:  With respect to the Master Servicer or the Special Servicer, as applicable, the servicing and administration of the Mortgage Loans and the Companion Loans (other than the Non-Serviced Mortgage Loans and their related Companion Loans) for which it is responsible hereunder (a) in the same manner in which, and with the same care, skill, prudence and diligence with which the Master Servicer or the Special Servicer, as the case may be, generally services and administers similar mortgage loans with similar mortgagors (i) for other third-parties, giving due consideration to customary and usual standards of practice of prudent institutional commercial mortgage lenders servicing their own loans or (ii) held in its own portfolio, whichever standard is higher, (b) with a view to the
maximization of the recovery 


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on such Mortgage Loan on a net present value basis and the best interests of the Certificateholders and the Trust Fund or, if a Loan Pair (other than the Non-Serviced Mortgage Loans) is involved, with a view towards the maximization of recovery on such Loan Pair to the Certificateholders, the related Companion Holders and the Trust Fund (as a collective whole, taking into account that the Subordinate Companion Loans are subordinate to the related Co-Lender Loans and the Pari Passu Companion Loans are pari passu in right of payment with the Pari Passu Mortgage Loan, in each case to the extent set forth in the related Intercreditor Agreement) and (c) without regard to (i) any relationship that the Master Servicer or the Special Servicer, as the case may be, or any Affiliate thereof may have with the related Mortgagor, the Depositor, any Mortgage Loan Seller or any other party to the transaction or any Affiliate thereof; (ii) the ownership of
any Certificate or Companion Loan (or other interest in any Mortgage Loan or Companion Loan) by the Master Servicer or the Special Servicer, as the case may be, or by any Affiliate thereof; (iii) the right of the Master Servicer or the Special Servicer, as the case may be, to receive compensation or other fees for its services rendered pursuant to this Agreement; (iv) the obligations of the Master Servicer to make Advances; (v) the ownership, servicing or management by the Master Servicer or the Special Servicer, as the case may be, or any Affiliate thereof for others of any other mortgage loans or mortgaged property; (vi) any obligation of the Master Servicer or any Affiliate of the Master Servicer to repurchase or substitute a Mortgage Loan as a Mortgage Loan Seller; (vii) any obligation of the Master Servicer or any Affiliate of the Master Servicer to cure a breach of a representation and warranty with respect to a Mortgage Loan; and (viii) any debt the Master Servicer

or Special Servicer or any Affiliate of either has extended to any Mortgagor or any Affiliate of such Mortgagor.


                    “Servicing Transfer Event”:  With respect to any Mortgage Loan (other than the 2007-C30 Serviced Mortgage Loans, the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan and the GECMC 2007-C1 Serviced Mortgage Loan), the occurrence of any of the events described in clauses (a) through (h) of the definition of “Specially Serviced Mortgage Loan”.


                    “Similar Law”:  As defined in Section 5.02(c).


                    “Single Certificate”:  For purposes of Section 4.02, a hypothetical Certificate of any Class of Regular Certificates evidencing a $1,000 denomination.


                    “Sherwood Plaza Loan”:  That certain Mortgage Loan which is included in the Trust Fund (identified as loan number 79 on the Mortgage Loan Schedule).


                    “Special Reserve Account”:  As used herein, the Trustee may create a segregated custodial account or accounts pursuant to Section 2.02(d) in trust for the Certificateholders, which shall be entitled “Wells Fargo Bank, N.A., as Trustee, in trust for the registered holders of Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2007-C31 and [name of party providing the funds]”.  Any such account will be an Eligible Account.


                    “Special Servicer”:  With respect to each Mortgage Loan (other than the Non-Serviced Mortgage Loans), LNR Partners, Inc., or, any successor special servicer appointed as herein provided.


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                    “Special Servicing Fee”:  With respect to each Specially Serviced Mortgage Loan and each REO Loan, the fee designated as such and payable to the Special Servicer pursuant to the first paragraph of Section 3.11(c); provided, that such fee shall equal at least $4,000.00 per month with respect to each Specially Serviced Mortgage Loan and each REO Loan.


                    “Special Servicing Fee Rate”:  With respect to each Specially Serviced Mortgage Loan and each REO Loan, 0.35% per annum.


                    “Specially Serviced Mortgage Loan”:  Any Mortgage Loan (other than the Non-Serviced Mortgage Loans) or Companion Loan (other than the Non-Serviced Companion Loans) as to which any of the following events have occurred:

	
  
 
  	
  
          (a)          the   related Mortgagor shall have (i) failed to make when due any Balloon   Payment; or (ii) failed to make when due any Periodic Payment (other   than a Balloon Payment), and such failure has continued unremedied for 60   days, unless with respect to any Co-Lender Loan, the related Companion Holder   effects a cure in accordance with the related Intercreditor Agreement; or
  
	
   
  	
  
 
  
	
  
 
  	
  
          (b)          the   Master Servicer or Special Servicer (in the case of the Special Servicer,   with the consent of the Controlling Class Representative) shall have   determined (with written notice of any such determination by the Special   Servicer to be promptly given by the Special Servicer to the Master Servicer   and with written notice of any such determination by the Master Servicer to   be promptly given by the Master Servicer to the Special Servicer), in its   good faith reasonable judgment, and in accordance with the Servicing   Standard, based on communications with the related Mortgagor, that a default   in making a Periodic Payment (including a Balloon Payment) or any other   default under the applicable Mortgage Loan documents that would (with respect   to such other default) materially impair the value of the Mortgaged Property   as security

for the Mortgage Loan and, if applicable, Companion Loan or   otherwise would materially adversely affect the interests of   Certificateholders and would continue unremedied beyond the applicable grace   period under the terms of the Mortgage Loan (or, if no grace period is   specified, for 60 days; provided   that a default that would give rise to an acceleration right without any   grace period shall be deemed to have a grace period equal to zero) is likely   to occur and is likely to remain unremedied for at least 60 days; or
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (c)          there   shall have occurred a default (other than as described in   clause (a) above) that the Master Servicer or the Special Servicer   (in the case of the Special Servicer, with the consent of the Controlling   Class Representative) shall have determined (with written notice of any such   determination by the Special Servicer to be promptly given by the Special   Servicer to the Master Servicer and with written notice of any such   determination by the Master Servicer to be promptly given by the Master   Servicer to the Special Servicer), in its good faith and reasonable judgment,   and in accordance with the Servicing Standard, materially impairs the value   of the Mortgaged Property as security for the Mortgage Loan and, if   applicable, Companion Loan, or otherwise materially adversely affects the   interests of
Certificateholders and if applicable, holders of the related   Companion Loans, as a collective whole, and is likely to continue unremedied   beyond the applicable grace period under the terms of the Mortgage Loan 
  



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(or, if no   grace period is specified, for 60 days; provided   that a default that gives rise to an acceleration right without any grace   period shall be deemed to have a grace period equal to zero); provided, however, that in the event the Special Servicer with the   consent of the Controlling Class Representative determines that the related   Mortgagor does not need to maintain terrorism insurance as provided in   Section 3.07(a), no default related to the failure to obtain such   insurance shall be deemed to be outstanding for purposes of this clause(c);   or
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (d)          a   decree or order of a court or agency or supervisory authority having   jurisdiction in the premises in an involuntary case under any present or   future federal or state bankruptcy, insolvency or similar law or the   appointment of a conservator or receiver or liquidator in any insolvency,   readjustment of debt, marshaling of assets and liabilities or similar   proceedings, or for the winding-up or liquidation of its affairs, shall have   been entered against the related Mortgagor; provided   that if such decree or order is discharged, dismissed or stayed within 60   days it shall not be a Specially Serviced Mortgage Loan (and no Special   Servicing Fees shall be payable); or
  
	
   
  	
  
 
  
	
  
 
  	
  
          (e)          the   related Mortgagor shall consent to the appointment of a conservator or   receiver or liquidator in any insolvency, readjustment of debt, marshaling of   assets and liabilities or similar proceedings of or relating to such   Mortgagor or of or relating to all or substantially all of its property; or
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (f)          the   related Mortgagor shall admit in writing its inability to pay its debts   generally as they become due, file a petition to take advantage of any   applicable insolvency, bankruptcy or reorganization statute, make an   assignment for the benefit of its creditors, or voluntarily suspend payment   of its obligations; or
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (g)          the   Master Servicer shall have received notice of the commencement of foreclosure   or similar proceedings with respect to the related Mortgaged Property;
  




                    provided, however, that a Companion Loan shall be deemed to be a Specially Serviced Mortgage Loan if the related Co-Lender Loan becomes a Specially Serviced Mortgage Loan and a Co-Lender Loan shall be deemed to be a Specially Serviced Mortgage Loan if the related Companion Loan becomes a Specially Serviced Mortgage Loan; provided, further, however, that a Mortgage Loan or Companion Loan will cease to be a Specially Serviced Mortgage Loan:


	
  
 
  	
  
              (i)          with   respect to the circumstances described in clause (a) above, when   the related Mortgagor has made three consecutive full and timely Periodic   Payments under the terms of such Mortgage Loan or Companion Loan (as such   terms may be changed or modified in connection with a bankruptcy or similar   proceeding involving the related Mortgagor or by reason of a modification,   waiver or amendment granted or agreed to by the Special Servicer pursuant to   Section 3.20);
  
	
  
 
  	
  
 
  
	
  
 
  	
  
              (ii)         with   respect to the circumstances described in clauses (b), (d), (e) and   (f) above, when such circumstances cease to exist in the good faith 
  




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reasonable   judgment of the Special Servicer and in accordance with the Servicing   Standard, but, with respect to any bankruptcy or insolvency proceedings   described in clauses (d), (e) and (f), no later than the entry of   an order or decree dismissing such proceeding;
  
	
   
  	
  
 
  
	
  
 
  	
  
              (iii)       with   respect to the circumstances described in clause (c) and (g) above,   when such default is cured; and
  
	
  
 
  	
  
 
  
	
  
 
  	
  
              (iv)        with   respect to the circumstances described in clause (h) above, when   such proceedings are terminated;
  




so long as at that time no circumstance identified in clauses (a) through (h) above exists that would cause the Mortgage Loan (or, with respect to a Co-Lender Loan, the related Companion Loan, or, with respect to a Companion Loan, the related Co-Lender Loan) to continue to be characterized as a Specially Serviced Mortgage Loan; provided no additional default is foreseeable in the reasonable good faith judgment of the Special Servicer.  The determination as to whether any of the 2007-C30 Serviced Mortgage Loans, the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan or the GECMC 2007-C1 Serviced Mortgage Loan is a Specially Serviced Mortgage Loan shall be made pursuant to the 2007-C30 Pooling and Servicing Agreement, the Morgan Stanley 2007-IQ14 Pooling and Servicing Agreement or the GECMC 2007-C1 Pooling and Servicing Agreement, respectively.


                    “Startup Day”:  With respect to each of REMIC I and REMIC II, the day designated as such in Section 10.01(c).


                    “State or Local Tax”:  Any tax imposed by the States of New York, North Carolina and Minnesota and by any other state or local taxing authorities; provided that such states and such other state and local taxing authorities, by notice to the Trustee, assert jurisdiction over the Trust Fund or any portion thereof, or which, according to an Opinion of Counsel addressed to the Trustee, have such jurisdiction.


                    “Stated Maturity Date”:  With respect to any Mortgage Loan, the Due Date specified in the Mortgage Note (as in effect on the Closing Date) on which the last payment of principal is due and payable under the terms of the Mortgage Note (as in effect on the Closing Date), without regard to any change in or modification of such terms in connection with a bankruptcy or similar proceeding involving the related Mortgagor or a modification, waiver or amendment of such Mortgage Loan granted or agreed to by the Special Servicer pursuant to Section 3.20 and, in the case of an ARD Loan, without regard to its Anticipated Repayment Date.


                    “Stated Principal Balance”:  With respect to any Mortgage Loan, as of any date of determination, an amount (which amount shall not be less than zero) equal to (x) the Cut-Off Date Balance of such Mortgage Loan (or, in the case of a Qualified Substitute Mortgage Loan, the unpaid principal balance after application of all principal payments due on or before the related date of substitution, whether or not received), plus (y) any Mortgage Deferred Interest added to the principal balance of such Mortgage Loan on or before the end of the immediately preceding Collection Period minus (z) the sum of:


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          (i)          the   principal portion of each Periodic Payment due on such Mortgage Loan after   the Cut-Off Date or the related date of substitution, as the case may be, to   the extent received from the Mortgagor or advanced by the Master Servicer or   the Trustee and distributed to Certificateholders on or before such date of   determination;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (ii)         all   Principal Prepayments received with respect to such Mortgage Loan after the   Cut-Off Date or the related date of substitution, as the case may be, to the   extent distributed to Certificateholders on or before such date of   determination;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (iii)        the   principal portion of all Insurance Proceeds and Liquidation Proceeds received   with respect to such Mortgage Loan after the Cut-Off Date or the related date   of substitution, as the case may be, to the extent distributed to   Certificateholders on or before such date of determination;
  
	
   
  	
  
 
  
	
  
 
  	
  
          (iv)         the   principal portion of any Realized Loss incurred in respect of such Mortgage   Loan during the related Collection Period; and
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          (v)          any   amount of reduction in the outstanding principal balance of such Mortgage   Loan resulting from a Deficient Valuation that occurred prior to the end of   the Collection Period for the most recent Distribution Date.
  




                    With respect to any REO Loan, as of any date of determination, an amount equal to (x) the Stated Principal Balance of the predecessor Mortgage Loan as of the date of the related REO Acquisition, minus (y) the sum of:

	
  
 
  	
  
              (A)          the   principal portion of any P&I Advance made with respect to the predecessor   Mortgage Loan on or after the date of the related REO Acquisition, to the   extent distributed to Certificateholders on or before such date of determination;   and
  
	
   
  	
  
 
  
	
  
 
  	
  
              (B)          the   principal portion of all Insurance Proceeds, Liquidation Proceeds and REO   Revenues received with respect to such REO Loan, to the extent distributed to   Certificateholders on or before such date of determination.
  




                    A Mortgage Loan or an REO Loan shall be deemed to be part of the Trust Fund and to have an outstanding Stated Principal Balance until the Distribution Date on which the payments or other proceeds, if any, received in connection with a Liquidation Event in respect thereof are to be (or, if no such payments or other proceeds are received in connection with such Liquidation Event, would have been) distributed to Certificateholders.  In addition, to the extent that principal from general collections is used to reimburse Nonrecoverable Advances pursuant to Section 3.05(a)(vii) or Workout Delayed Reimbursement Amounts pursuant to Section 3.05(a)(vii) hereof (which Workout Delayed Reimbursement Amounts, so long as they are not Nonrecoverable Advances (which are only reimbursable from principal collections on the Mortgage Pool as set forth in
this Agreement) hereof with respect to a Mortgage Loan which is not the Mortgage Loan in respect of which such Nonrecoverable Advance was made and such


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amount has not been included as part of the Principal Distribution Amount, such amount shall nevertheless be deemed to be part of the Principal Distribution Amount for purposes of clauses (i), (ii) and (iii) above.  Notwithstanding the foregoing, if any Mortgage Loan is paid in full, liquidated or otherwise removed from the Trust Fund, commencing as of the first Distribution Date following the Collection Period during which such event occurred, the Stated Principal Balance of such Mortgage Loan will be zero.


                    With respect to any Companion Loan on any date of determination, the Stated Principal Balance shall equal the unpaid principal balance of such Companion Loan.


                    “Strip Rate”:  With respect to any Component for any Distribution Date, a rate per annum equal to (i) the Weighted Average Net Mortgage Rate for such Distribution Date, minus (ii) the Pass-Through Rate for the Corresponding Certificates (provided that in no event shall the Strip Rate be less than zero). 


                    “Subcontractor”:  Any third-party or affiliated vendor, subcontractor or other Person utilized by a Servicer, a Sub-Servicer, the Trustee or the Custodian, as applicable, that is not responsible for the overall servicing (as “servicing” is commonly understood by participants in the commercial mortgage-backed securities market) of Mortgage Loans but performs one or more discrete functions identified in Item 1122(d) of Regulation AB with respect to Mortgage Loans.


                    “Subordinate Companion Holder”:  The holders of any of the Subordinate Companion Loans.


                    “Subordinate Companion Loan”:  Each of the Five Times Square Subordinate Companion Loan, the Los Angeles International Jewelry Center Subordinate Companion Loan, the Lembi Pool Subordinate Companion Loan, the 611 West 6th Street Subordinate Companion Loan, the Wynn Palms Apartments Subordinate Companion Loan, the Doubletree Hotel –Tucson, AZ Subordinate Companion Loan, the Quail Creek Subordinate Companion Loan and the Rancho Vista Apartments Subordinate Companion Loan, individually or collectively, as the context may require.


                    “Subordinated Certificate”:  Any Class A-M, Class A-J, Class B, Class C, Class D, Class E, Class F, Class G, Class H, Class J, Class K, Class L, Class M, Class N, Class O, Class P, Class Q, Class S, Class T, Class U, Class Z, Class R-I or Class R-II Certificate.


                    “Sub-Servicer”:  Any Person with which the Master Servicer, the Special Servicer or an Additional Servicer has entered into a Sub-Servicing Agreement for the performance (whether directly or through Sub-Servicers or Subcontractors) of a substantial portion of the material servicing functions required to be performed by the Master Servicer or the Special Servicer under this Agreement or by an Additional Servicer under a servicing agreement, with respect to some or all of the Mortgage Loans, that are identified in Item 1122(d) of Regulation AB.


                    “Sub-Servicing Agreement”:  The written contract between the Master Servicer or the Special Servicer, on the one hand, and any Sub-Servicer, on the other hand, relating to servicing and administration of Mortgage Loans as provided in Section 3.22.


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                    “Substitution Shortfall Amount”:  With respect to a substitution pursuant to Section 2.03(a) hereof, an amount equal to the excess, if any, of the Purchase Price of the Mortgage Loan being replaced calculated as of the date of substitution over the Stated Principal Balance of the related Qualified Substitute Mortgage Loan as of the date of substitution.  In the event that one or more Qualified Substitute Mortgage Loans are substituted (at the same time) for one or more deleted Mortgage Loans, the Substitution Shortfall Amount shall be determined as provided in the preceding sentence on the basis of the aggregate Purchase Prices of the Mortgage Loan or Mortgage Loans being replaced and the aggregate Stated Principal Balances of the related Qualified Substitute Mortgage Loan or Mortgage Loans.


                    “Successful Bidder”:  As defined in Section 7.01(c).


                    “Swap Contract”:  The 1992 ISDA Master Agreement (Multi-Currency Cross Border) together with the related schedule, confirmation and any annexes thereto, dated as of May 23, 2007, by and among the Swap Counterparty and the Trustee, solely in its capacity as Trustee, on behalf of the Trust Fund, or any replacement interest rate swap agreement entered into by the Trustee in accordance with this Agreement with respect to the Class A-5FL Certificates.


                    “Swap Counterparty”:  Wachovia acting in such capacity or its successor in interest or any Swap Counterparty under a replacement Swap Contract.


                    “Swap Default”:  Any failure on the part of the Swap Counterparty to (i) make a required payment under the Swap Contract, as and when due thereunder, (ii) either post acceptable collateral or find an acceptable replacement swap counterparty after a Rating Agency Trigger Event has occurred as required by Part 1, paragraph (k) of the Schedule of the Master Agreement in the Swap Contract, or (iii) any early termination date as designated under the Swap Contract shall have occurred as a result of an “event of default” or “termination event” on the part of the Swap Counterparty.


                    “Swap Termination Fees”:  Any fees or expenses payable by the Swap Counterparty to the Trust Fund in connection with a Swap Default, termination of the Swap Contract or liquidation of the Swap Contract, as specified in the Swap Contract.


                    “Tax Matters Person”:  With respect to each of REMIC I and REMIC II, the Person designated as the “tax matters person” of such REMIC in the manner provided under Treasury Regulations Section 1.860F-4(d) and Temporary Treasury Regulations Section 301.6231(a)(7)-1T, which Person shall be the applicable Plurality Residual Certificateholder.


                    “Tax
Returns”:  The federal income tax returns on Internal Revenue
Service Form 1066, U.S. Real Estate Mortgage Investment Conduit (REMIC) Income
Tax Return, including Schedule Q thereto, Quarterly Notice to Residual Interest
Holders of REMIC Taxable Income or Net Loss Allocation, or any successor forms,
to be filed on behalf of REMIC I and REMIC II due to its
classification as a REMIC under the REMIC Provisions, and the federal income tax
return to be filed on behalf of the Grantor Trusts due to their classification
as a grantor trust under the Grantor Trust Provisions, together with any and all
other information, reports or 


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returns that may be required to be furnished to
the Certificateholders or filed with the Internal Revenue Service under any
applicable provisions of federal tax law or any other governmental taxing
authority under applicable State and Local Tax laws.


                    “Tenants-in-Common
Loan”:  Those certain Mortgage Loans which are identified on
Exhibit Z hereto for which the related Mortgagors own the related
Mortgaged Property as tenants-in-common and the related Mortgagor is subject to
further syndication.


                    “Time of Sale”:  As defined in that certain Underwriting Agreement, dated as of May 11, 2007, among the Depositor, Wachovia and the Underwriters.


                    “Transfer”:  Any direct or indirect transfer, sale, pledge, hypothecation, or other form of assignment of any Ownership Interest in a Certificate.


                    “Transferee”:  Any Person who is acquiring by Transfer any Ownership Interest in a Certificate.


                    “Transferor”:  Any Person who is disposing by Transfer any Ownership Interest in a Certificate.


                    “Trust Fund”:  Collectively, (i) all of the assets of each of REMIC I and REMIC II, and (ii) the Additional Interest Grantor Trust Assets.


                    “Trustee”:  Wells Fargo Bank, N.A., its successor in interest, or any successor trustee appointed as herein provided.


                    “Trustee Fee”:  With respect to each Mortgage Loan and REO Loan for any Distribution Date, an amount equal to one month’s interest for the most recently ended calendar month (calculated on a 30/360 Basis), accrued at the Trustee Fee Rate on the Stated Principal Balance of such Mortgage Loan or REO Loan, as the case may be, outstanding immediately following the prior Distribution Date (or, in the case of the initial Distribution Date, as of the Closing Date).


                    “Trustee Fee Rate”:  0.00038% per annum.


                    “UCC”:  The Uniform Commercial Code in effect in the applicable jurisdiction.


                    “UCC Financing Statement”:  A financing statement executed and filed pursuant to the Uniform Commercial Code, as in effect in any relevant jurisdiction.


                    “Underwriter”:  Each of Wachovia Capital Markets, LLC, Barclays Capital Inc., Credit Suisse Securities (USA) LLC and Goldman, Sachs & Co. or, in each case, its successor in interest.


                    “United States Person”:  A citizen or resident of the United States, a corporation or partnership (including an entity treated as a corporation or partnership for federal income tax purposes) created or organized in, or under the laws of, the United States, any State thereof or the District of Columbia unless in the case of a partnership, Treasury Regulations are adopted that 


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provide otherwise, an estate whose income is includable in gross income for United States federal income tax purposes regardless of its source or a trust if a court within the United States is able to exercise primary supervision over the administration of the trust, and one or more United States Persons have the authority to control all substantial decisions of the trust, all within the meaning of Section 7701(a)(30) of the Code (or, to the extent provided in applicable Treasury regulations, certain trusts in existence on August 20, 1996, that are eligible to elect to be treated as United States Persons).


                    “Unliquidated Advance”:  Any Advance previously made by a party hereto that has been previously reimbursed, as between the Person that made the Advance hereunder, on the one hand, and the Trust Fund, on the other, as part of a Workout-Delayed Reimbursement Amount pursuant to subsections (ii) and (vi) of Section 3.05(a) but that has not been recovered from the Mortgagor or otherwise from collections on or the proceeds of the Mortgage Loan or REO Property in which the Trust Fund holds a beneficial interest in respect of which the Advance was made.


                    “Unrestricted Servicer Reports”:  Each of the CMSA Delinquent Loan Status Report, CMSA Historical Loan Modification and Corrected Mortgage Loan Report, CMSA Loan Level Reserve/LOC Report, CMSA REO Status Report, the CMSA Advance Recovery Report and the CMSA Total Loan Report.


                    “Voting Rights”:  The portion of the voting rights of all of the Certificates which is allocated to any Certificate.  At all times during the term of this Agreement, 100% of the Voting Rights shall be allocated among the Holders of the Regular Certificates and the Class A-5FL Certificates.  Ninety-six percent (96%) of the Voting Rights shall be allocated among the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-5, Class A-5FL, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D, Class E, Class F, Class G, Class H, Class J, Class K, Class L, Class M, Class N, Class O, Class P, Class Q, Class S, Class T and Class U Certificates in proportion to the respective Class Principal Balances
of their Certificates (which proportion shall be calculated as equal to the product of 96% and a fraction, the numerator of which is equal to the aggregate Certificate Balance of the related Class of Certificates (adjusted as provided in the immediately succeeding provisos) and the denominator of which is equal to the aggregate Certificate Balances of all Classes of Certificates referenced above, determined as of the Distribution Date immediately preceding such time); provided that solely for the purpose of determining the Voting Rights of the Classes of Sequential Pay Certificates, the aggregate Appraisal Reduction Amount (determined as set forth herein) shall be treated as Realized Losses with respect to the calculation of the Certificate Principal Balances thereof; provided, further, however, that the aggregate Appraisal Reduction Amount shall not reduce the Class Principal Balance of any Class for purposes of determining the Controlling Class, the Controlling Class
Representative or the Majority Subordinate Certificateholder.  Four percent (4%) in the aggregate of the Voting Rights shall be allocated to the Class IO Certificates.  The Class Z Certificates and the Residual Certificates shall have no voting rights.  Voting Rights allocated to a Class of Certificateholders shall be allocated among such Certificateholders in standard proportion to the Percentage Interests evidenced by their respective Certificates.  In addition, if either the Master Servicer or the Special Servicer is the holder of any Certificate, neither of the Master Servicer or Special Servicer, in its capacity as a Certificateholder, shall have Voting Rights with respect to matters concerning compensation affecting the Master Servicer or the Special Servicer.


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                    “Wachovia”:  Wachovia Bank, National Association, or its successor in interest.


                    “Wachovia Mortgage Loan Purchase Agreement”:  That certain mortgage loan purchase agreement, dated as of May 1, 2007 between the Depositor and Wachovia and relating to the transfer of the Wachovia Mortgage Loans to the Depositor.


                    “Wachovia Mortgage Loans”:  Each of the Mortgage Loans transferred and assigned to the Depositor pursuant to the Wachovia Mortgage Loan Purchase Agreement.


                    “Weighted Average Net Mortgage Rate”:  With respect to any Distribution Date, the rate per annum equal to the weighted average, expressed as a percentage and rounded to six decimal places, of the respective Net Mortgage Rates applicable to the Mortgage Loans as of the first day of the related Collection Period, weighted on the basis of their respective Stated Principal Balances immediately following the preceding Distribution Date.


                    “WHFIT”: shall mean a “Widely Held Fixed Investment Trust” as that term is defined in Treasury Regulations section 1.671-5(b)(22) or successor provisions.


                    “WHFIT Regulations”: shall mean Treasury Regulations section 1.671-5, as amended.


                    “Whole Loan”:  Collectively, each Co-Lender Loan and its related Companion Loans.


                    “Workout-Delayed Reimbursement Amounts”:  With respect to any Mortgage Loan, the amount of any Advance made with respect to such Mortgage Loan on or before the date such Mortgage Loan becomes (or, but for the making of three Monthly Payments under its modified terms, would then constitute) a Corrected Mortgage Loan (or, with respect to the 2007-C30 Serviced Mortgage Loans, a “corrected mortgage loan” under the 2007-C30 Pooling and Servicing Agreement, or, with respect to the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan, a “corrected mortgage loan” under the Morgan Stanley 2007-IQ14 Pooling and Servicing Agreement, or, with respect to the GECMC 2007-C1 Serviced Mortgage Loan, a “corrected mortgage loan” under the GECMC 2007-C1 Pooling and Servicing Agreement), together with (to the extent
accrued and unpaid) interest on such Advances, to the extent that (i) such Advance (and any interest thereon) is not reimbursed to the Person who made such Advance on or before the date, if any, on which such Mortgage Loan becomes a Corrected Mortgage Loan (or, with respect to the 2007-C30 Serviced Mortgage Loans, a “corrected mortgage loan” under the 2007-C30 Pooling and Servicing Agreement, or, with respect to the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan, a “corrected mortgage loan” under the Morgan Stanley 2007-IQ14 Pooling and Servicing Agreement, or, with respect to the GECMC 2007-C1 Serviced Mortgage Loan, a “corrected mortgage loan” under the GECMC 2007-C1 Pooling and Servicing Agreement) and (ii) the amount of such Advance (and any interest thereon) becomes an obligation of the Mortgagor to pay such amount over a period of time rather than immediately or on the next Due Date under the terms of the modified loan documents.


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                    “Workout Fee”:  With respect to each Corrected Mortgage Loan, the fee designated as such and payable to the Special Servicer pursuant to the second paragraph of Section 3.11(c).


                    “Workout Fee Rate”:  With respect to each Corrected Mortgage Loan, 1.00%.


                    “Wynn Palms Apartments Intercreditor Agreement”: The Intercreditor Agreement, dated as of May 1, 2007, by and between Nomura (in its capacity as initial Note A Holder) and Nomura (in its capacity as initial Note B Holder), relating to the Wynn Palms Apartments Whole Loan.


                    “Wynn Palms Apartments Loan”: That certain Mortgage Loan which is included in the Trust Fund (identified as loan number 40 on the Mortgage Loan Schedule).


                    “Wynn Palms Apartments Subordinate Companion Loan”: That certain mortgage loan evidenced by a note, which is not an asset of the Trust Fund, secured by the Mortgaged Property securing the Wynn Palms Apartments Loan and subordinate in right of entitlement to the Wynn Palms Apartments Loan.


                    “Wynn Palms Apartments Whole Loan”: The Wynn Palms Apartments Loan, together with the Wynn Palms Apartments Subordinate Companion Loan.


                    “Yield
Maintenance Charge”:  Payments paid or payable, as the context
requires, on a Mortgage Loan as the result of a Principal Prepayment thereon,
not otherwise due thereon in respect of principal or interest, which have been
calculated (based on Scheduled Payments on such Mortgage Loan) to compensate the
holder for reinvestment losses based on the value of an interest rate index at
or near the time of prepayment.  Any other prepayment premiums, penalties
and fees not so calculated will not be considered “Yield Maintenance
Charges.”  In the event that a Yield Maintenance Charge shall become
due for any particular Mortgage Loan, the Master Servicer shall be required to
follow the terms and provisions contained in the applicable Mortgage Note;
provided, however, in the event the particular Mortgage Note shall
not specify the U.S. Treasuries which shall be used in determining the discount
rate or the reinvestment yield to be applied in such calculation, the Master
Servicer shall be required to use those U.S. Treasuries having maturity dates
most closely approximating the maturity of such Mortgage Loan.  Accordingly
if either no U.S. Treasury issue, or more than one U.S. Treasury issue, shall
coincide with the term over which the Yield Maintenance Charge shall be
calculated (which depending on the applicable Mortgage Note is based on the
remaining average life of the Mortgage Loan or the actual term remaining through
the Maturity Date), the Master Servicer shall use the U.S. Treasury whose
reinvestment yield is the lowest, with such yield being based on the bid price
for such issue as published in The Wall Street Journal on the date that
is fourteen (14) days prior to the date that the Yield Maintenance Charge shall
become due and payable (or, if such bid price is not published on that date, the
next preceding date on which such bid price is so published) and converted to a
monthly compounded nominal yield.  The monthly compounded nominal yield
(“MEY”) is derived from the reinvestment yield or discount rate
and shall be defined as MEY = (12X {(1+“BEY”/2)^1/6}-1) where BEY is
defined as the U.S. Treasury Reinvestment Yield which is in decimal form and not
in percentage, and 1/6 is the exponential power to which a portion of the
equation is raised.  For example, using a BEY of 


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5.50%, the MEY = (12 X
{(1+ 0.055/2)^0.16667}-1) where 0.055 is the decimal version of the percentage
5.50% and 0.16667 is the decimal version of the exponential power.  The MEY
in the above calculation is 5.44%.



ARTICLE II


CONVEYANCE OF MORTGAGE LOANS; REPRESENTATIONS
 AND WARRANTIES; ORIGINAL ISSUANCE OF CERTIFICATES


          Section 2.01    Conveyance of Mortgage Loans.


                    (a)          The Depositor, concurrently with the execution and delivery hereof, does hereby assign, sell, transfer, set over and otherwise convey to the Trustee, in trust, without recourse, for the benefit of the Certificateholders (and for the benefit of the other parties to this Agreement as their respective interests may appear) all the right, title and interest of the Depositor, in, to and under (i) the Mortgage Loans and all documents included in the related Mortgage Files and Servicing Files, (ii) the rights of the Depositor under Sections 2, 3, 9, 10, 11, 12, 13, 14, 16, 17, 18 and 19 of each of the Mortgage Loan Purchase Agreements, and (iii) all other assets included or to be included in the Trust Fund.  Such assignment includes all interest and principal received or
receivable on or with respect to the Mortgage Loans and due after the Cut-Off Date.  The transfer of the Mortgage Loans and the related rights and property accomplished hereby is absolute and, notwithstanding Section 11.07, is intended by the parties to constitute a sale.


                    (b)          In connection with the Depositor’s assignment pursuant to Section 2.01(a) above the Depositor shall direct, and hereby represents and warrants that it has directed, each Mortgage Loan Seller pursuant to the applicable Mortgage Loan Purchase Agreement, to deliver to and deposit with, or cause to be delivered to and deposited with, the Trustee or a Custodian appointed thereby (with a copy to the Master Servicer and Special Servicer), on or before the Closing Date, the Mortgage File for each Mortgage Loan so assigned and the Servicing File to the Master Servicer.  The Special Servicer may request the Master Servicer to deliver a copy of the Servicing File for any Mortgage Loan (other than a Specially Serviced Mortgage Loan, which will not be at the expense of the Special
Servicer) at the expense of the Special Servicer.  None of the Trustee, any Custodian, the Master Servicer or the Special Servicer shall be liable for any failure by any Mortgage Loan Seller or the Depositor to comply with the document delivery requirements of the applicable Mortgage Loan Purchase Agreement and this Section 2.01(b).


                    (c)          If any Mortgage Loan Seller cannot deliver, or cause to be delivered, on the Closing Date, as to any Mortgage Loan, any of the documents and/or instruments referred to in clauses (ii), (iii), (vi) (if recorded) and (viii) of the definition of “Mortgage File” (or, with respect to the Non-Serviced Mortgage Loans, a photocopy thereof), with evidence of recording thereon, solely because of a delay caused by the public recording office where such document or instrument has been delivered for recordation, the delivery requirements of the related Mortgage Loan Purchase Agreement and Section 2.01(b) shall be deemed to have been satisfied as to such non-delivered document or instrument, and such non-delivered document or instrument shall be deemed to have been included
in the Mortgage File; provided that a photocopy of such non-


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delivered document or instrument (certified by the applicable Mortgage Loan Seller to be a true and complete copy of the original thereof submitted for recording) is delivered to the Trustee or a Custodian appointed thereby on or before the Closing Date, and either the original of such non-delivered document or instrument, or a photocopy thereof, with evidence of recording thereon, is delivered to the Trustee or such Custodian within 120 days of the Closing Date (or within such longer period after the Closing Date as the Trustee may consent to, which consent shall not be unreasonably withheld so long as the applicable Mortgage Loan Seller is, in good faith, attempting to obtain from the appropriate county recorder’s office such original or photocopy).  If the applicable Mortgage Loan Seller cannot deliver, or cause to be delivered, as to any Mortgage Loan, any of the documents and/or instruments referred to in clauses (ii), (iii), (vi) (if
recorded) and (viii) of the definition of “Mortgage File” (or, with respect to the Non-Serviced Mortgage Loans, a photocopy thereof) with evidence of recording thereon, for any other reason, including, without limitation, that such non-delivered document or instrument has been lost, the delivery requirements of the applicable Mortgage Loan Purchase Agreement and Section 2.01(b) shall be deemed to have been satisfied as to such non-delivered document or instrument and such non-delivered document or instrument shall be deemed to have been included in the Mortgage File; provided that a photocopy of such non-delivered document or instrument (with evidence of recording thereon) is delivered to the Trustee or a Custodian appointed thereby on or before the Closing Date.


                    If, on the Closing Date as to any Mortgage Loan, the applicable Mortgage Loan Seller does not deliver in complete and recordable form any one of the assignments in favor of the Trustee referred to in clause (iv) or (v) of the definition of “Mortgage File” (or, with respect to the Non-Serviced Mortgage Loans, a photocopy thereof), the applicable Mortgage Loan Seller may provisionally satisfy the delivery requirements of the related Mortgage Loan Purchase Agreement and Section 2.01(b) by delivering with respect to such Mortgage Loan on the Closing Date an omnibus assignment of such Mortgage Loan; provided that all required original assignments with respect to such Mortgage Loan in fully complete and recordable form shall be delivered to the Trustee or its Custodian within 120 days of the Closing Date (or within
such longer period as the Trustee in its discretion may permit).


                    (d)          The Trustee shall, for a fee paid to the Trustee by the Depositor on the Closing Date as to each Mortgage Loan (other than the Non-Serviced Mortgage Loans) promptly (and in any event within 90 days following the latest of (i) the Closing Date, (ii) the delivery of all assignments and UCC Financing Statements to the Trustee and (iii) the date on which the Trustee receives, with respect to the original recorded or filed documents relating to such assignments and UCC Financing Statements, all necessary recording and filing information required for the recording or filing of such assignments and UCC Financing Statements) cause to be submitted for recording or filing, as the case may be, in the appropriate public office for real property records or UCC Financing Statements,
as appropriate and to the extent timely delivered to the Trustee in final, recordable form, each assignment of Mortgage, assignment of Assignment of Leases and any other recordable documents (to the extent the Trustee has actual knowledge that such documents are to be recorded) relating to each such Mortgage Loan, in favor of the Trustee referred to in clause (iv)(a), (b) and (c), respectively, of the definition of “Mortgage File” and each UCC-2 and UCC-3 assignment in favor of the Trustee and so delivered to the Trustee and referred to in clause (viii) of the definition of “Mortgage File.”  The applicable Mortgage Loan Seller shall reimburse the Trustee for all reasonable costs and expenses incurred for 


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recording any documents described in clause (iv)(c) of the definition of “Mortgage File.”  Each such assignment, UCC-2 and UCC-3 shall reflect that the recorded original should be returned by the public recording office to the Trustee or its designee following recording, and each such UCC-2 and UCC-3 assignment shall reflect that the file copy thereof should be returned to the Trustee or its designee following filing; provided that in those instances where the public recording office retains the original assignment of Mortgage or assignment of Assignment of Leases, the Trustee shall obtain therefrom a certified copy of the recorded original, at the expense of the Depositor.  If any such document or instrument is lost or returned unrecorded or unfiled, as the case may be, because of a defect therein, the Trustee shall direct the related Mortgage Loan Seller pursuant to the applicable Mortgage Loan Purchase Agreement to promptly
prepare or cause to be prepared a substitute therefor or cure such defect, as the case may be, and thereafter the Trustee shall upon receipt thereof cause the same to be duly recorded or filed, as appropriate.  Upon request, the Trustee shall forward to the Master Servicer a copy of each of the aforementioned recorded assignments following the Trustee’s receipt thereof, to the extent not previously provided.


                    (e)          All documents and records in the Servicing File in possession of the Depositor or the Mortgage Loan Sellers (except attorney client privileged communications, draft documents and any documents or materials prepared by the Mortgage Loan Sellers or their Affiliates for internal uses, including, without limitation, internal correspondence and credit analysis of the Mortgage Loan Sellers) that relate to the Mortgage Loans (other than the Non-Serviced Mortgage Loans) and that are not required to be a part of a Mortgage File in accordance with the definition thereof (including any original letters of credit), together with all Escrow Payments and Reserve Accounts in the possession thereof, shall be delivered to the Master Servicer or such other Person as may be directed by the Master
Servicer (at the expense of the applicable Mortgage Loan Seller) on or before the Closing Date and shall be held by the Master Servicer on behalf of the Trustee in trust for the benefit of the Certificateholders; provided, however, the Master Servicer shall have no responsibility for holding documents created or maintained by the Special Servicer hereunder and not delivered to the Master Servicer.


                    (f)          In connection with the Depositor’s assignment pursuant to Section 2.01(a) above, the Depositor shall deliver to the Custodian and the Master Servicer on or before the Closing Date and hereby represents and warrants that it has delivered a copy of a fully executed counterpart of each Mortgage Loan Purchase Agreement, as in full force and effect on the Closing Date.


          Section 2.02    Acceptance of the Trust Fund by Trustee.


                    (a)          The Trustee, by its execution and delivery of this Agreement, acknowledges receipt of the Depositor’s assignment to it of the Depositor’s right, title and interest in the assets that constitute the Trust Fund, and further acknowledges receipt by it or a Custodian on its behalf, subject to the provisos in the definition of “Mortgage File” and the provisions of Section 2.01 and subject to the further limitations on review provided for in Section 2.02(b) and the exceptions noted on the schedule of exceptions of (i) the Mortgage File delivered to it for each Mortgage Loan and (ii) a copy of a fully executed counterpart of each Mortgage Loan Purchase Agreement, all in good faith and without notice of any adverse claim, and declares that it or a
Custodian on its behalf holds and will hold such documents and the other 


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documents received by it that constitute portions of the Mortgage Files, and that it holds and will hold the Mortgage Loans and other assets included in the Trust Fund, in trust for the exclusive use and benefit of all present and future Certificateholders and, with respect to any original document in the Mortgage File for a Loan Pair, any present or future Companion Holders.  The Trustee hereby certifies to each of the Depositor, the Master Servicer, the Special Servicer and each Mortgage Loan Seller that, except as identified in the schedule of exceptions, which is attached hereto as Exhibit C-1 without regard to the proviso in the definition of “Mortgage File,” each of the original executed Mortgage Notes as described in clause (i) of the definition of Mortgage File are in its possession.


                    (b)          In addition, within 90 days after the Closing Date (and if any exceptions are noted, a schedule of exceptions again every 90 days thereafter until the second anniversary of the Closing Date, and a schedule of exceptions every 180 days thereafter until the fifth anniversary of the Closing Date, and thereafter upon request by any party hereto, any Mortgage Loan Seller or the Majority Subordinate Certificateholder), the Trustee or the Custodian on its behalf will review the Mortgage Files and certify (in a certificate substantially in the form of Exhibit C-2) to each of the Depositor, the Master Servicer, the Special Servicer and each Mortgage Loan Seller (with copies to the Majority Subordinate Certificateholder) that, with respect to each Mortgage Loan (and with respect
to the 2007-C30 Serviced Mortgage Loans, the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan and the GECMC 2007-C1 Serviced Mortgage Loan and their related Companion Loans, as applicable, only those items required pursuant to the definition of “Mortgage File”) listed in the Mortgage Loan Schedule, except as specifically identified in the schedule of exceptions annexed thereto, (i) without regard to the proviso in the definition of “Mortgage File,” all documents specified in clauses (i), (ii), (iv)(a), (v) and (vii), and to the extent provided in the related Mortgage File and actually known by a Responsible Officer of the Trustee to be required, clauses (iii), (iv)(b), (iv)(c), (vi), (viii), (ix) (a) and (xii) of the definition of “Mortgage File” are in its possession, (ii) all documents delivered or caused to be delivered by the applicable Mortgage Loan Seller constituting the related Mortgage File have been reviewed by it and appear regular on
their face and appear to relate to such Mortgage Loan, (iii) based on such examination and only as to the foregoing documents, the information set forth in the Mortgage Loan Schedule for such Mortgage Loan with respect to the items specified in clauses (v) and (vi)(c) of the definition of “Mortgage Loan Schedule” is correct and (iv) solely with respect to the Companion Loans, all documents specified in clause (xiii) of the definition of Mortgage File are in its possession.  Further, with respect to the documents described in clause (viii) of the definition of Mortgage File, the Trustee may assume, for purposes of the certification delivered in this Section 2.02(b) and for purposes of determining (subject to the proviso at the end of this sentence) where to file UCC Financing Statements, that the related Mortgage File should include one state level UCC Financing Statement filing in the state of incorporation of the Mortgagor for each Mortgaged Property
(or with respect to any Mortgage Loan that has two or more Mortgagors, for each Mortgagor); provided, however, that to the extent the Trustee has actual knowledge or is notified of any fixture or real property UCC Financing Statements filed in the county of the state where the related Mortgaged Property is located, the Trustee shall file an assignment to the Trust Fund with respect to such UCC Financing Statements in the appropriate jurisdiction under the UCC at the expense of the related Mortgage Loan Seller.  The UCC Financing Statements to be assigned to the Trust Fund pursuant to Section 2.01(d) will be delivered by the related Mortgage Loan Seller to the Trustee on the new national forms, in recordable form and completed pursuant to Revised Article IX of the UCC.  The Trustee will submit such UCC Financing Statements for filing in the state of incorporation of the related Mortgagor as so indicated on the documents provided.


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                    (c)          None of the Trustee, the Master Servicer, the Special Servicer or any Custodian is under any duty or obligation to inspect, review or examine any of the documents, instruments, certificates or other papers relating to the Mortgage Loans delivered to it to determine that the same are valid, legal, effective, genuine, enforceable, in recordable form, sufficient or appropriate for the represented purpose or that they are other than what they purport to be on their face.


                    (d)          The Trustee may establish a Special Reserve Account which shall be an Eligible Account, and the Trustee or its designee shall deposit any amount required to be deposited in a Special Reserve Account within 1 Business Day of receipt.  The related Mortgage Loan Seller may direct the Trustee to invest or cause the investment of the funds deposited in the Special Reserve Account in Permitted Investments that bear interest or are sold at a discount and that mature, unless payable on demand, no later than the Business Day prior to the next P&I Advance Date.  The Trustee shall act upon the written instructions of the related Mortgage Loan Seller with respect to the investment of the funds in the Special Reserve Account in such Permitted Investments; provided that in

the absence of appropriate and timely written instructions from the related Mortgage Loan Seller, the Trustee shall not have any obligation to invest or direct the investment funds in such Special Reserve Account.  All income and gain realized from the investment of funds deposited in such Special Reserve Account shall be for the benefit of the related Mortgage Loan Seller and shall be withdrawn by the Trustee or its designees and remitted to the related Mortgage Loan Seller on each P&I Advance Date (net of any losses incurred), and the related Mortgage Loan Seller shall remit to the Trustee from the related Mortgage Loan Seller’s own funds for deposit into such Special Reserve Account the amount of any Net Investment Loss (net of Net Investment Earnings) in respect of such Permitted Investments immediately upon realization of such Net Investment Losses and receipt of written notice thereof from the Trustee; provided that the related Mortgage Loan Seller shall not be required to
deposit any loss on an investment of funds in the Special Reserve Account if such loss is incurred solely as a result of the insolvency of the federal or state chartered depository institution or trust company that holds such Special Reserve Account; provided that such depository institution is not the related Mortgage Loan Seller or an affiliate of such Mortgage Loan Seller.  The Special Reserve Account shall be considered an “outside reserve fund” within the meaning of the REMIC Provisions, and such Special Reserve Account (or any reimbursement from REMIC I or REMIC II with respect thereto) will be beneficially owned by the related Mortgage Loan Seller, who shall be taxable on all income, if any, with respect thereto.


                    (e)          With respect to exceptions related to clause (xii) of the definition of “Mortgage File” and any cash or substitute letters of credit held by the Trustee in the Special Reserve Account from time to time, if circumstances arise in servicing the related Mortgage Loan such that the Master Servicer or Special Servicer, as the case may be, is entitled to draw upon the undelivered letter of credit, the Master Servicer or Special Servicer, as the case may be, shall present an Officer’s Certificate to the Trustee requesting that the cash or substitute letter of credit held in the Special Reserve Account, be remitted or released, as the case may be, and the Trustee shall remit such cash or release such substitute letter of credit within 1 Business Day of receipt of
such Officer’s Certificate.  Upon release of any substitute letter of credit to the Master Servicer or Special Servicer, the Trustee shall no longer be responsible for such letter of credit.


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          Section 2.03    Mortgage Loan Seller’s Repurchase or Substitution of Mortgage Loans for Document Defects and Breaches of Representations and Warranties.


                    (a)         If any party hereto discovers or receives notice that any document or documents constituting a part of a Mortgage File (including that part relating to the 2007-C30 Serviced Mortgage Loans, the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan and the GECMC 2007-C1 Serviced Mortgage Loan being held by the 2007-C30 Trustee, the Morgan Stanley 2007-IQ14 Trustee and the GECMC 2007-C1 Trustee, respectively) has not been properly executed, is missing (beyond the time period required for its delivery hereunder), contains information that does not conform in any material respect with the corresponding information set forth in the Mortgage Loan Schedule, or does not appear to be regular on its face (each a “Document Defect”), or discovers or receives notice of a breach of any
representation or warranty relating to any Mortgage Loan set forth in the applicable Mortgage Loan Purchase Agreement (a “Breach”), the party discovering such Document Defect or Breach shall give written notice (which notice, in respect of any obligation of the Trustee to provide notice of a Document Defect, shall be deemed given by the delivery of the certificate as required by Section 2.02(a)) to the other parties hereto, to the Majority Subordinate Certificateholder and to the Rating Agencies of such Document Defect or Breach.  Promptly upon becoming aware of any Document Defect or Breach (including through such written notice provided by any party hereto or the Majority Subordinate Certificateholder as provided above), if any party hereto determines that such Document Defect or Breach materially and adversely affects the value of the affected Mortgage Loan, the interest of the Trust Fund therein or the interests of any Certificateholder, such party shall notify the
Master Servicer of such determination and promptly after receipt of such notice, the Master Servicer, or with respect to a Specially Serviced Mortgage Loan, the Special Servicer, shall request in writing (with a copy to the other parties hereto, the Majority Subordinate Certificateholder, the Rating Agencies and the Controlling Class Representative (if different from the Majority Subordinate Certificateholder)) that the applicable Mortgage Loan Seller, not later than 90 days from receipt of such written request (or, in the case of a Document Defect or Breach relating to a Mortgage Loan not being a “qualified mortgage” within the meaning of the REMIC Provisions, not later than 90 days after any party to this Agreement discovers such Document Defect or Breach) (i) cure such Document Defect or Breach, as the case may be, in accordance with Section 3(c) of the applicable Mortgage Loan Purchase Agreement, (ii) repurchase the affected Mortgage Loan (other than with respect

to the Non-Serviced Mortgage Loans, for which no substitution shall be permitted) in accordance with Section 3(c) of the related Mortgage Loan Purchase Agreement, or (iii) within two years of the Closing Date, substitute a Qualified Substitute Mortgage Loan (other than with respect to the Non-Serviced Mortgage Loans, for which no substitution shall be permitted) for such affected Mortgage Loan and pay the Master Servicer for deposit into the Certificate Account any Substitution Shortfall Amount in connection therewith in accordance with Sections 3(c) and 3(d) of the applicable Mortgage Loan Purchase Agreement; provided, however, if such Document Defect or Breach is capable of being cured, but not within such 90 day period, such Document Defect or Breach does not relate to the Mortgage Loan not being treated as a “qualified mortgage” within the meaning of the REMIC Provisions, and the applicable Mortgage Loan Seller has commenced and is diligently proceeding with
the cure of such Document Defect or 


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Breach within such 90 day period, the applicable Mortgage Loan Seller shall have an additional 90 days to complete such cure (or, failing such cure, to repurchase the related Mortgage Loan); provided, further, with respect to such additional 90 day period the applicable Mortgage Loan Seller shall have delivered an Officer’s Certificate to the Trustee setting forth what actions the applicable Mortgage Loan Seller is pursuing in connection with the cure thereof and stating that the applicable Mortgage Loan Seller anticipates such Document Defect or Breach will be cured within the additional 90 day period; provided, further, no Document Defect (other than with respect to a Mortgage Note, Mortgage, title insurance policy, Ground Lease, any letter of credit, franchise agreement or any comfort letter and comfort letter transfer documents (collectively, the “Material Core Documents”) shall be
considered to materially and adversely affect the interests of any Certificateholder, the interest of the Trust Fund therein or the value of the related Mortgage Loan unless the document with respect to which the Document 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 Mortgagor 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 obligations; provided, further, with respect to Document Defects which materially and adversely affect the interest of any Certificateholder, the interests of the Trust therein or the value of the related Mortgage Loan, other than with respect to Document Defects relating to the Material Core Documents, any applicable cure period following the initial 90 day cure period may be extended by the
Master Servicer or the Special Servicer if the document involved is not needed imminently.  Such extension will end upon 30 days notice of such need as reasonably determined by the Master Servicer or Special Servicer (with a possible 30 day extension if the Master Servicer or Special Servicer agrees that the applicable Mortgage Loan Seller is diligently pursuing a cure).  Pursuant to the related Mortgage Loan Purchase Agreement, the related Mortgage Loan Seller shall cure all Document Defects which materially and adversely affect the interests of any Certificateholder, the interests of the Trust Fund therein or the value of the related Mortgage Loan, regardless of the document involved, no later than two years following the Closing Date; provided, however, the initial 90 day cure period referenced above shall not be reduced.  For a period of two years from the Closing Date, so long as there remains any Mortgage File as to which there is any uncured Document Defect and

so long as the applicable Mortgage Loan Seller shall provide the Officer’s Certificate pursuant to Section 3(c) of the applicable Mortgage Loan Purchase Agreement, the Trustee shall on a quarterly basis prepare and deliver to the other parties a written report as to the status of such uncured Document Defects as provided in this Section 2.03.  If the affected Mortgage Loan is to be repurchased or substituted, the Master Servicer shall designate the Certificate Account as the account to which funds in the amount of the Purchase Price or the Substitution Shortfall Amount, as applicable, are to be wired.  Any such repurchase or substitution of a Mortgage Loan shall be on a whole loan, servicing released basis.


                    If (i) any Mortgage Loan is required to be repurchased or substituted for in the manner described in the immediately preceding paragraph, (ii) such Mortgage Loan is a Crossed Loan, and (iii) the applicable Document Defect or Breach does not constitute a Document 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 Document Defect or Breach, as the case may be, will be deemed to constitute a Document Defect or Breach, as the case may be, as to any other Crossed Loan in the Crossed Group for purposes of this paragraph, and the related Mortgage 


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Loan Seller will be required to repurchase or substitute for such other Crossed Loan(s) in the related Crossed Group as provided in the immediately preceding paragraph unless such other Crossed Loans satisfy the Crossed Loan Repurchase Criteria and satisfy all other criteria for substitution and repurchase of Mortgage Loans set forth herein.  In the event that the remaining Crossed Loans in such Crossed Group satisfy the aforementioned criteria, the Mortgage Loan Seller may elect either to repurchase or substitute for only the affected Crossed Loan as to which the related Breach or Document Defect exists or to repurchase or substitute for all of the Crossed Loans in the related Crossed Group.  Any reserve or other cash collateral or letters of credit securing the Crossed Loans shall be allocated between such Mortgage Loans in accordance with the Mortgage Loan documents.  All other terms of the Mortgage Loans shall remain in full force and effect
without any modification thereof.


                    With respect to any Crossed Loan, to the extent that the applicable Mortgage Loan Seller is required to repurchase or substitute for such Mortgage Loan in the manner prescribed in this Section 2.03(a) while the Trustee continues to hold any other Crossed Loans in the related Crossed Group, the applicable Mortgage Loan Seller and the Depositor will, as set forth in the related Mortgage Loan Purchase Agreement (any expenses incurred by the Trustee, the Special Servicer or the Master Servicer in connection with any modification or accommodation referred to in such Mortgage Loan Purchase Agreement (including but not limited to reasonable attorney fees) shall be paid by the related Mortgage Loan Seller), forbear from enforcing any remedies against the other’s Primary Collateral but each will be permitted to exercise remedies against the
Primary Collateral securing its respective Mortgage Loans, including with respect to the Trustee, the Primary Collateral securing Mortgage Loans still held by the Trustee.


                    (b)          In connection with any repurchase or substitution of one or more Mortgage Loans contemplated by this Section 2.03, upon receipt of a Request for Release (in the form of Exhibit D-1 attached hereto) of a Servicing Officer of the Master Servicer certifying as to the receipt of the applicable Purchase Price(s) in the Certificate Account (in the case of any such repurchase) or the receipt of the applicable Substitution Shortfall Amount(s) in the Certificate Account and upon the delivery of the Mortgage File(s) and the Servicing File(s) for the related Qualified Substitute Mortgage Loan(s) to the Custodian and the Master Servicer, respectively (in the case of any such substitution), (i) the Trustee shall execute and deliver such endorsements and assignments as are
provided to it, in each case without recourse, representation or warranty, as shall be necessary to vest in the applicable Mortgage Loan Seller the legal and beneficial ownership of each repurchased Mortgage Loan or substituted Mortgage Loan, as applicable, being released pursuant to this Section 2.03, and (ii) the Trustee, the Custodian, the Master Servicer, and the Special Servicer shall each tender to the applicable Mortgage Loan Seller, upon delivery to each of them of a receipt executed by the applicable Mortgage Loan Seller, all portions of the Mortgage File and other documents pertaining to each such Mortgage Loan possessed by it and the Master Servicer and the Special Servicer shall release to the applicable Mortgage Loan Seller any Escrow Payments and Reserve Funds held by it in respect of such repurchased or substituted Mortgage Loan; provided that such tender by the Trustee or the Custodian shall be conditioned upon its receipt from the Master Servicer or the Special
Servicer of a Request for Release.  Thereafter, the Trustee, the Custodian, the Master Servicer and the Special Servicer shall have no further responsibility with regard to the related repurchased Mortgage Loan(s) or deleted Mortgage Loan(s), as applicable, and the related 


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Mortgage File(s) and Servicing File(s).  The Master Servicer shall, and is hereby authorized and empowered by the Trustee to, prepare, execute and deliver in its own name, on behalf of the Certificateholders and the Trustee or any of them, the endorsements and assignments contemplated by this Section 2.03, and the Trustee shall execute any powers of attorney that are prepared and delivered to the Trustee by the Master Servicer and are necessary to permit the Master Servicer to do so.  The Master Servicer shall indemnify the Trustee for any reasonable costs, fees, liabilities and expenses incurred by the Trustee in connection with the negligent or willful misuse by the Master Servicer of such powers of attorney.  At the time a substitution is made, the related Mortgage Loan Purchase Agreement will provide that the Mortgage Loan Seller shall deliver the related Mortgage File to the Trustee and certify that the substitute Mortgage Loan is a
Qualified Substitute Mortgage Loan.


                    (c)          No substitution of a Qualified Substitute Mortgage Loan or Loans may be made in any calendar month after the Determination Date for such month.  Periodic Payments due with respect to any Qualified Substitute Mortgage Loan after the related date of substitution shall be part of REMIC I.  Periodic Payments due with respect to any Qualified Substitute Mortgage Loan on or prior to the related date of substitution shall not be part of the Trust Fund or REMIC I and will (to the extent received by the Master Servicer) be remitted by the Master Servicer to the applicable Mortgage Loan Seller promptly following receipt.


                    (d)          Each Mortgage Loan Purchase Agreement provides the sole remedies available to the Certificateholders, or the Trustee on behalf of the Certificateholders, respecting any Document Defect or Breach with respect to the Mortgage Loans purchased by the Depositor thereunder.


                    (e)          The Trustee with the cooperation of the Special Servicer (in the case of Specially Serviced Mortgage Loans) shall, for the benefit of the Certificateholders, enforce the obligations of the Mortgage Loan Sellers under Section 3 of the applicable Mortgage Loan Purchase Agreement.  The Trustee shall include in the immediately succeeding Distribution Date Statement a notification to the recipients of such Distribution Date Statement of any repurchase or substitution of a Mortgage Loan required pursuant to the terms of the related Mortgage Loan Purchase Agreement.


                    (f)          Notwithstanding the foregoing, if there exists a Breach relating to whether or not the 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) with respect to matters described in Representations 23 and 43 of the applicable Mortgage Loan Purchase Agreement, then the Master Servicer shall (and the Special Servicer may) direct the related Mortgage Loan Seller in writing to wire transfer to the Certificate Account, within 90 days of such Mortgage Loan Seller’s receipt of such direction, the amount of any such costs and expenses borne by the Trust Fund that are the basis of such Breach.  Upon its making such deposit, the
related Mortgage Loan Seller shall be deemed to have cured such Breach in all respects.  Provided such payment is made in full, this paragraph describes the sole remedy available to the Certificateholders, the Master Servicer, the Special Servicer, and the Trustee on their behalf regarding any such Breach and the related Mortgage Loan Seller shall not be obligated to repurchase the affected Mortgage Loan on account of such Breach or otherwise cure such Breach.  Amounts deposited in the Certificate Account pursuant to this paragraph shall be used for the reimbursement or payment of costs related to such Breach.


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                    (g)          With respect to any Mortgage Loan which has become a Defaulted Mortgage Loan under this Agreement or with respect to which the related Mortgaged Property has been foreclosed and which is the subject of a repurchase claim under the related Mortgage Loan Purchase Agreement, the Special Servicer, with the consent of the Controlling Class Representative, shall notify the related Mortgage Loan Seller in writing of its intention to sell such Defaulted Mortgage Loan or REO Property at least 45 days prior to any such action.  The related Mortgage Loan Seller shall have 10 Business Days to determine whether or not to consent to such sale.  If the related Mortgage Loan Seller consents to such sale or a court of competent jurisdiction determines that the related Mortgage Loan Seller
was liable under the related Mortgage Loan Purchase Agreement to repurchase such Defaulted Mortgage Loan or REO Property then such Mortgage Loan Seller shall be liable for the difference (if any) between the price of the Mortgage Loan or REO Property as sold and the price which the related Mortgage Loan Seller would have to pay if it repurchased such Defaulted Mortgage Loan or REO Property.  If the related Mortgage Loan Seller does not consent to such sale, the Special Servicer shall contract with a Determination Party as to the merits of such sale.  If the related Determination Party determines that such sale is in accordance with the Servicing Standard and the provisions of this Agreement with respect to the sale of Defaulted Mortgage Loans or REO Properties and subsequent to such a sale, a court of competent jurisdiction determines that related Mortgage Loan Seller was liable under the related Mortgage Loan Purchase Agreement and required to repurchase such Defaulted Mortgage Loan or REO
Property in accordance with the terms thereof, then pursuant to the related Mortgage Loan Purchase Agreement, the related Mortgage Loan Seller shall remit to the Special Servicer an amount equal to the difference (if any) between the proceeds of the related action and the price at which the related Mortgage Loan Seller would have been obligated to pay had the related Mortgage Loan Seller repurchased such Defaulted Mortgage Loan or REO Property in accordance with the terms of the related Mortgage Loan Purchase Agreement, including the costs related to contracting with the related Determination Party.  If the related Determination Party determines that the sale of the related Defaulted Mortgage Loan or REO Property is not in accordance with the Servicing Standard and the provision of this Agreement with respect to the sale of Defaulted Mortgage Loans or REO Properties and the Special Servicer subsequently sells such Mortgage Loan or REO Property, then the related Mortgage Loan Seller shall not be
liable for any such difference (nor any cost of contracting with the Determination Party).  In the event that (a) the Special Servicer ignores the determination of the Determination Party and sells the related Defaulted Mortgage Loan or REO Property and/or (b) a court of competent jurisdiction determines that the related Mortgage Loan Seller is not obligated to repurchase the related Defaulted Mortgage or REO Property, the costs of contracting with the Determination Party will constitute an Additional Trust Fund Expense.  If the related Mortgage Loan Seller is required pursuant to the related Mortgage Loan Purchase Agreement to remit the amounts set forth in this Section 2.03(g), the Special Servicer shall designate the Certificate Account as the account to which such funds shall be wired.


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          Section 2.04    Representations and Warranties of Depositor.


                    (a)          The Depositor hereby represents and warrants to the Trustee, for its own benefit and the benefit of the Certificateholders, and to the Master Servicer, the Paying Agent and the Special Servicer, as of the Closing Date, that:


                                   (i)          The Depositor is a corporation duly organized, validly existing and in good standing under the laws of the State of North Carolina;


                                   (ii)         The execution and delivery of this Agreement by the Depositor, and the performance and compliance with the terms of this Agreement by the Depositor, will not violate the Depositor’s certificate of incorporation or bylaws or constitute a default (or an event which, with notice or lapse of time, or both, would constitute a default) under, or result in the breach of, any material agreement or other instrument to which it is a party or which is applicable to it or any of its assets;


                                   (iii)        The Depositor has the full power and authority to enter into and consummate all transactions contemplated by this Agreement, has duly authorized the execution, delivery and performance of this Agreement, and has duly executed and delivered this Agreement;


                                   (iv)         This Agreement, assuming due authorization, execution and delivery by each of the other parties hereto, constitutes a valid, legal and binding obligation of the Depositor, enforceable against the Depositor in accordance with the terms hereof, subject to (A) applicable bankruptcy, insolvency, reorganization, moratorium and other laws affecting the enforcement of creditors’ rights generally, and (B) general principles of equity, regardless of whether such enforcement is considered in a proceeding in equity or at law;


                                   (v)          The Depositor is not in violation of, and its execution and delivery of this Agreement and its performance and compliance with the terms of this Agreement will not constitute a violation of, any law, any order or decree of any court or arbiter, or any order, regulation or demand of any federal, state or local governmental or regulatory authority, which violation, in the Depositor’s good faith and reasonable judgment, is likely to affect materially and adversely either the ability of the Depositor to perform its obligations under this Agreement or the financial condition of the Depositor;


                                   (vi)         The transfer of the Mortgage Loans to the Trustee as contemplated herein requires no regulatory approval, other than any such approvals as have been obtained, and is not subject to any bulk transfer or similar law in effect in any applicable jurisdiction;


                                   (vii)        No litigation is pending or, to the best of the Depositor’s knowledge, threatened against the Depositor that, if determined adversely to the Depositor, would prohibit the Depositor from entering into this Agreement or that, in the Depositor’s good faith and reasonable judgment, is likely to materially and adversely affect either the ability of the Depositor to perform its obligations under this Agreement or the financial condition of the Depositor;


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                                   (viii)       Immediately prior to the transfer of the Mortgage Loans to the Trust Fund pursuant to this Agreement, (A) the Depositor had good and marketable title to, and was the sole owner and holder of, each Mortgage Loan; and (B) the Depositor has full right and authority to sell, assign and transfer the Mortgage Loans and all servicing rights pertaining thereto; and


                                   (ix)         The Depositor is transferring the Mortgage Loans to the Trust Fund free and clear of any liens, pledges, charges and security interests.


                    (b)          The representations and warranties of the Depositor set forth in Sections 2.04(a) and 8.17 shall survive the execution and delivery of this Agreement and shall inure to the benefit of the Persons for whose benefit they were made for so long as the Trust Fund remains in existence.  Upon discovery by any party hereto of any breach of any of the foregoing representations and warranties, the party discovering such breach shall give prompt written notice thereof to the other parties.


          Section 2.05    Conveyance of Mortgage Loans; Acceptance of REMIC I and Additional Interest Grantor Trusts by Trustee.


                    The Depositor, as of the Closing Date, and concurrently with the execution and delivery of this Agreement, does hereby assign without recourse all the right, title and interest of the Depositor in and to (a) the Mortgage Loans (other than any Additional Interest related thereto) and the other property comprising REMIC I to the Trustee for the benefit of the Holders of the Class R I Certificates (in respect of the residual interest in REMIC I) and REMIC II as the holder of the REMIC I Regular Interests and (b) the Additional Interest and the other property comprising the Additional Interest Grantor Trust to the Trustee for the benefit of the Holders of the Class Z Certificates.  The Trustee acknowledges the assignment to it of the Mortgage Loans and the other property comprising REMIC I and the
Additional Interest Grantor Trust, and declares that it holds and will hold the same in trust for the exclusive use and benefit of REMIC II as the holder of the REMIC I Regular Interests and present and future holders of the Certificates (other than the Class Z Certificates) and, as to the Additional Interest Grantor Trust, for the benefit of the Holders of the Class Z Certificates.


          Section 2.06    Issuance of the REMIC I Regular Interests; Execution, Authentication and Delivery of Class R-I Certificates.


                    Concurrently with the assignment to the Trustee of the Mortgage Loans (other than any Additional Interest related thereto) and in exchange therefor, the Trustee acknowledges the issuance of the REMIC I Regular Interests, to or upon the order of the Depositor and, pursuant to the written request of the Depositor executed by an officer of the Depositor, has executed, as the Certificate Registrar and the Authenticating Agent has authenticated and delivered to or upon the order of the Depositor, the Class R-I Certificates.



          Section
2.07    Conveyance of REMIC I Regular Interests;
Acceptance of REMIC II by Trustee.



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                    The
Depositor, as of the Closing Date, and concurrently with the execution and
delivery of this Agreement, does hereby assign without recourse all the right,
title and interest of the Depositor in and to the REMIC I Regular Interests
to the Trustee for the benefit of the respective Holders of the REMIC II
Certificates.  The Trustee acknowledges the assignment to it of the
REMIC I Regular Interests and declares that it holds and will hold the same
in trust for the exclusive use and benefit of all present and future Holders of
the REMIC II Certificates.


          Section 2.08    Execution, Authentication and Delivery of REMIC II Certificates, Class A-5FL Regular Interest.


                    Concurrently with the assignment to the Trustee of the REMIC I Regular Interests and in exchange therefor, and pursuant to the written request of the Depositor, executed by an affiliate of the Depositor, the Trustee, as Certificate Registrar, has executed, and the Trustee, as Authenticating Agent, has authenticated and delivered to or upon the order of the Depositor, the REMIC II Certificates in authorized denominations and has issued the Class A-5FL Regular Interest evidencing the entire beneficial ownership of REMIC II.  The rights of the holders of the respective Classes of REMIC II Certificates and the Trustee as Holder of the Class A-5FL Regular Interest to receive distributions from the proceeds of REMIC II in respect of their REMIC II Certificates and the Class A-5FL Regular Interest, and all ownership
interests evidenced or constituted by the respective Classes of REMIC II Certificates and the  Class A-5FL Regular Interest in such distributions, shall be as set forth in this Agreement.


          Section 2.09    Execution, Authentication and Delivery of Class A-5FL Certificates.


                    Concurrently with the assignment to the Trustee of the Class A-5FL Regular Interest, the executed Swap Contract and the established Floating Rate Account comprising the Class A-5FL Grantor Trust and in exchange therefor, the Trustee, pursuant to the written request of the Depositor executed by an officer of the Depositor, has executed, as Certificate Registrar, authenticated, as Authenticating Agent and delivered to or upon the order of the Depositor, the Class A-5FL Certificates.


          Section 2.10    Execution, Authentication and Delivery of Class Z Certificates.


                    Concurrently with the assignment to the Trustee of the Additional Interest, and in exchange therefor, the Trustee, pursuant to the written request of the Depositor executed by an officer of the Depositor, has executed, as Certificate Registrar, authenticated, as Authenticating Agent and delivered to or upon the order of the Depositor, the Class Z Certificates.


ARTICLE III


ADMINISTRATION AND SERVICING OF THE TRUST FUND


          Section 3.01    Administration of the Mortgage Loans.


                    (a)          Each of the Master Servicer and the Special Servicer shall service and administer the Mortgage Loans (other than the Non-Serviced Mortgage Loans) and Companion Loans (other than the Non-Serviced Companion Loans) that each is obligated to service and administer pursuant to this Agreement on behalf of the Trustee, for the benefit of the Certificateholders and in the case of the Companion Loans, the related Companion Holder, in accordance with any and all applicable laws, the terms of this Agreement (and, with respect to a 


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Loan Pair, the related Intercreditor Agreement), the terms of the respective Mortgage Loans, and, if applicable, the Companion Loans and, to the extent consistent with the foregoing, in accordance with the Servicing Standard.  With respect to any Loan Pair, in the event of a conflict between this Agreement and the related Intercreditor Agreement, the Intercreditor Agreement will control; provided that in no event shall the Master Servicer or Special Servicer take any action or omit to take any action in accordance with the terms of any Intercreditor Agreement that would cause such servicer to violate the Servicing Standard or the REMIC Provisions.  Without limiting the foregoing, and subject to Section 3.21 and without limitation of Section 4.03 and any other provision of this Agreement that expressly requires the Master Servicer or the Special Servicer to take action with respect to a Non-Serviced Mortgage Loan as specified in the succeeding

paragraph, (i) the Master Servicer shall service and administer all Mortgage Loans and the Companion Loans (other than the Non-Serviced Mortgage Loans and their related Companion Loans, as applicable) that are not Specially Serviced Mortgage Loans, and (ii) the Special Servicer shall service and administer each Specially Serviced Mortgage Loan (other than the Non-Serviced Mortgage Loans and their related Companion Loans) and REO Property and shall render such services with respect to all Mortgage Loans, Companion Loans and REO Properties as are specifically provided for herein; provided that the Master Servicer shall continue to receive payments, make all calculations, and prepare, or cause to be prepared, all reports required hereunder with respect to the Specially Serviced Mortgage Loans, except for the reports specified herein as prepared by the Special Servicer, as if no Servicing Transfer Event had occurred and with respect to the REO Properties (and the related REO Loans) as if
no REO Acquisition had occurred, and to render such incidental services with respect to such Specially Serviced Mortgage Loans and REO Properties as are specifically provided for herein; provided, further, however, that the Master Servicer shall not be liable for its failure to comply with such duties insofar as such failure results from a failure by the Special Servicer to provide sufficient information to the Master Servicer to comply with such duties or failure by the Special Servicer to otherwise comply with its obligations hereunder; provided, further, that the Special Servicer shall not be liable for its failure to comply with such duties insofar as such failure results from a failure by the Master Servicer to provide sufficient information to the extent required herein to the Special Servicer to comply with such duties or failure by the Master Servicer to otherwise comply with its obligations hereunder.  All references herein to the respective duties of
the Master Servicer and the Special Servicer, and to the areas in which they may exercise discretion, shall be subject to Section 3.21.


                    The parties hereto acknowledge that each of the 2007-C30 Serviced Mortgage Loans, the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan and the GECMC 2007-C1 Serviced Mortgage Loan and their related Companion Loans are subject to a related Intercreditor Agreement and are being serviced and administered under the 2007-C30 Pooling and Servicing Agreement, the Morgan Stanley 2007-IQ14 Pooling and Servicing Agreement and the GECMC 2007-C1 Pooling and Servicing Agreement, respectively.  The Master Servicer, the Special Servicer, the Trustee and the Paying Agent shall have no obligation or authority (i) to service and administer the 2007-C30 Serviced Mortgage Loans, the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan or the GECMC 2007-C1 Serviced Mortgage Loan or their related Companion Loans (except for the limited duties with respect to
the 2007-C30 Serviced Mortgage Loans, the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan and the GECMC 2007-C1 Serviced Mortgage Loan expressly provided herein), (ii) to supervise the 2007-C30 Master Servicer, the 2007-C30 Special Servicer, the 2007-C30 Trustee, the Morgan Stanley 2007-IQ14 Master 


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Servicer, the Morgan Stanley 2007-IQ14 Special Servicer, the Morgan Stanley 2007-IQ14 Trustee, the GECMC 2007-C1 Master Servicer, the GECMC 2007-C1 Special Servicer or the GECMC 2007-C1 Trustee or (iii) to make Servicing Advances or P&I Advances (except to the limited extent described in Section 4.03 with respect to P&I Advances to be made by the Master Servicer or the Trustee on the 2007-C30 Serviced Mortgage Loans, the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan and the GECMC 2007-C1 Serviced Mortgage Loan).  In addition to any other obligations expressly set forth herein by specific reference to the 2007-C30 Serviced Mortgage Loans, the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan or the GECMC 2007-C1 Serviced Mortgage Loan, the Master Servicer, the Special Servicer, the Trustee and the Paying Agent shall have the following obligations with respect to the 2007-C30 Serviced Mortgage Loans, the Morgan Stanley 2007-IQ14 Serviced
Mortgage Loan and the GECMC 2007-C1 Serviced Mortgage Loan, as the case may be:


                                   (i)          The Trustee and the Paying Agent shall have the obligations described under Section 2.02 with respect to the Mortgage File for the 2007-C30 Serviced Mortgage Loans, the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan and the GECMC 2007-C1 Serviced Mortgage Loan;


                                   (ii)         Each of the Master Servicer, the Special Servicer and the Trustee shall have the obligations, if any, applicable to such party under Section 2.03 with respect to the 2007-C30 Serviced Mortgage Loans, the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan and the GECMC 2007-C1 Serviced Mortgage Loan;


                                   (iii)        The Master Servicer shall have the obligations described under Sections 3.04 and 3.05 with respect to all amounts received from the 2007-C30 Master Servicer, the Morgan Stanley 2007-IQ14 Master Servicer and the GECMC 2007-C1 Master Servicer with respect to the 2007-C30 Serviced Mortgage Loans, the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan and the GECMC 2007-C1 Serviced Mortgage Loan;


                                   (iv)         The Trustee shall have the obligations described under Section 3.10 with respect to the Mortgage File for the 2007-C30 Serviced Mortgage Loans, the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan and the GECMC 2007-C1 Serviced Mortgage Loan;


                                   (v)          Upon receipt of information and reports on the 2007-C30 Serviced Mortgage Loans, the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan and the GECMC 2007-C1 Serviced Mortgage Loan from the 2007-C30 Master Servicer, the Morgan Stanley 2007-IQ14 Master Servicer and the GECMC 2007-C1 Master Servicer, respectively, the Master Servicer shall include such information in the reports and notices required under Section 3.12;


                                   (vi)         The Master Servicer and the Paying Agent shall each have the obligations applicable to such party under Section 3.15 with respect to information and reports it has received regarding the 2007-C30 Serviced Mortgage Loans, the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan and the GECMC 2007-C1 Serviced Mortgage Loan; and


                                   (vii)        The Master Servicer shall have the obligations described under Section 3.19(a) with respect to any Prepayment Interest Shortfall on the 2007-C30 Serviced Mortgage Loans, the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan and the GECMC 2007-C1 Serviced Mortgage Loan.


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                    The obligation of the Master Servicer to provide information and collections to the Paying Agent and the Certificateholders with respect to the 2007-C30 Serviced Mortgage Loans, the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan and the GECMC 2007-C1 Serviced Mortgage Loan shall be dependent on its receipt of the corresponding information and collections from the 2007-C30 Master Servicer, the Morgan Stanley 2007-IQ14 Master Servicer, the GECMC 2007-C1 Master Servicer, the 2007-C30 Special Servicer, the Morgan Stanley 2007-IQ14 Special Servicer or the GECMC 2007-C1 Special Servicer, as the case may be.


                    (b)          Subject to Section 3.01(a) and Section 6.11, the Master Servicer and the Special Servicer each shall have full power and authority, acting alone, to do or cause to be done any and all things in connection with such servicing and administration which it may deem necessary or desirable.  Without limiting the generality of the foregoing, each of the Master Servicer and the Special Servicer, in its own name, with respect to each of the Mortgage Loans and Companion Loans it is obligated to service hereunder, is hereby authorized and empowered by the Trustee and, pursuant to each Intercreditor Agreement, the Companion Holders to execute and deliver, on behalf of the Certificateholders, the Companion Holders and the Trustee or any of them, (i) any and all financing
statements, continuation statements and other documents or instruments necessary to maintain the lien created by any Mortgage or other security document in the related Mortgage File on the related Mortgaged Property and related collateral; (ii) in accordance with the Servicing Standard and subject to Section 3.20 and Section 6.11, any and all modifications, waivers, amendments or consents to or with respect to any documents contained in the related Mortgage File; (iii) any and all instruments of satisfaction or cancellation, or of partial or full release, discharge, or assignment, and all other comparable instruments; and (iv) pledge agreements and other defeasance documents in connection with a defeasance contemplated pursuant to Section 3.20(h).  Subject to Section 3.10, the Trustee shall, at the written request of the Master Servicer or the Special Servicer, promptly execute any limited powers of attorney and other documents furnished by the Master Servicer
or the Special Servicer that are necessary or appropriate to enable them to carry out their servicing and administrative duties hereunder; provided, however, that the Trustee shall not be held liable for any misuse of any such power of attorney by the Master Servicer or the Special Servicer; provided, further, that the Master Servicer and the Special Servicer shall not, without the Trustee’s written consent, (A) initiate any action in the Trustee’s name without indicating the Master Servicer’s or Special Servicer’s representative capacity or (B) cause the Trustee to be registered to do business in any state.


                    (c)          The relationship of each of the Master Servicer and the Special Servicer to the Trustee under this Agreement is intended by the parties to be that of an independent contractor and not that of a joint venture, partner or agent.  Unless the same Person acts as both Master Servicer and Special Servicer, the Master Servicer shall not be responsible for the actions of or failure to act by the Special Servicer and the Special Servicer shall not be responsible for the actions of or the failure to act by the Master Servicer.


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                    (d)          Notwithstanding anything herein to the contrary, in no event shall the Master Servicer make a Servicing Advance with respect to any Companion Loan to the extent the related Co-Lender Loan has been paid in full or is no longer included in the Trust Fund.


                    (e)          Servicing and administration of each Companion Loan (other than the Non-Serviced Companion Loans) shall continue hereunder for so long as the corresponding Co-Lender Loan (other than with respect to the Non-Serviced Mortgage Loans) or any related REO Property is part of the Trust Fund or for such longer period as any amounts payable by the related Companion Holder to or for the benefit of the Trust Fund or any party hereto in accordance with the related Intercreditor Agreement remain due and owing; provided, however, if any Companion Loan (other than the Non-Serviced Companion Loans) is securitized, the Master Servicer’s servicing obligations and duties with respect to the related Companion Loan shall be limited to those obligations and duties described in the
related Intercreditor Agreement and this Agreement.


          Section 3.02    Collection of Mortgage Loan Payments.


                    (a)          Each of the Master Servicer or the Special Servicer shall undertake reasonable efforts consistent with the Servicing Standard to collect all payments required under the terms and provisions of the Mortgage Loans and Companion Loans it is obligated to service hereunder and shall, to the extent such procedures shall be consistent with this Agreement, follow such collection procedures in accordance with the Servicing Standard; provided, however, that nothing herein shall be construed as an express or implied guarantee by the Master Servicer or the Special Servicer of collectability; provided, further, that with respect to the Mortgage Loans that have Anticipated Repayment Dates, so long as the related Mortgagor is in compliance with each provision of the
related Mortgage Loan documents, the Master Servicer and Special Servicer (including the Special Servicer in its capacity as a Certificateholder), shall not take any enforcement action with respect to the failure of the related Mortgagor to make any payment of Additional Interest or principal in excess of the principal component of the constant Periodic Payment, other than requests for collection, until the maturity date of the related Mortgage Loan; provided that the Master Servicer or Special Servicer, as the case may be, may take action to enforce the Trust Fund’s right to apply excess cash flow to principal in accordance with the terms of the Mortgage Loan documents.  Consistent with the foregoing and subject to Section 3.20, the Special Servicer, with regard to a Specially Serviced Mortgage Loan, or the Master Servicer, with regard to a Mortgage Loan or Companion Loan (other than the Non-Serviced Mortgage Loans or the Non-Serviced Companion Loans) that is not a Specially
Serviced Mortgage Loan, may waive any Penalty Interest or late payment charge in connection with any payment on a Mortgage Loan or Companion Loan (other than the Non-Serviced Mortgage Loans or the Non-Serviced Companion Loans).


                    (b)          All amounts collected in respect of any Mortgage Loan or Companion Loan (other than the Non-Serviced Companion Loans) in the form of payments from Mortgagors, and/or guaranties, Liquidation Proceeds (insofar as such Liquidation Proceeds are of the nature described in clauses (i) through (iii) of the definition thereof) or Insurance Proceeds shall be applied to either amounts due and owing under the related Mortgage Note and Mortgage (including, without limitation, for principal and accrued and unpaid interest) in accordance with the express provisions of the related Mortgage Note and Mortgage (and, with respect to a Loan 


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Pair, the related Intercreditor Agreement) or, if required pursuant to the express provisions of the related Mortgage, or as determined by the Master Servicer or Special Servicer in accordance with the Servicing Standard, to the repair or restoration of the related Mortgaged Property, and, in the absence of such express provisions, shall be applied for purposes of this Agreement:  first, as a recovery of any related and unreimbursed Advances (including Workout Delayed Reimbursement Amounts that have not been reimbursed to the Master Servicer) plus unreimbursed interest accrued thereon; second, as a recovery of Nonrecoverable Advances or Unliquidated Advances (including interest on such Nonrecoverable Advance or Unliquidated Advances), in each case, that were paid from collections on the Mortgage Loans (allocable to principal) and resulted in principal from the Mortgage Pool distributed to the Certificateholders being reduced pursuant to
Section 3.05(a) hereof; third, as a recovery of accrued and unpaid interest at the related Mortgage Rate on such Mortgage Loan, to the extent such amounts have not been previously advanced, and exclusive of any portion thereof that constitutes Additional Interest; fourth, as a recovery of principal of such Mortgage Loan then due and owing, to the extent such amounts have not been previously advanced, including, without limitation, by reason of acceleration of the Mortgage Loan following a default thereunder; fifth, in accordance with the normal servicing practices of the Master Servicer or the Special Servicer, as a recovery of any other amounts then due and owing under such Mortgage Loan (other than Additional Interest), including, without limitation, Prepayment Premiums, Yield Maintenance Charges and Penalty Interest; sixth, as a recovery of any remaining principal of such Mortgage Loan to the extent of its entire remaining unpaid principal balance; and
seventh, with respect to any ARD Loan after its Anticipated Repayment Date, as a recovery of any unpaid Additional Interest.  All amounts collected on any Mortgage Loan in the form of Liquidation Proceeds of the nature described in clauses (iv) through (vi) of the definition thereof shall be deemed to be applied:  first, as a recovery of any related and unreimbursed Advances plus interest accrued thereon; second, as a recovery of accrued and unpaid interest at the related Mortgage Rate on such Mortgage Loan to but not including the Due Date in the Collection Period of receipt, to the extent such amounts have not been previously advanced, and exclusive of any portion thereof that constitutes Additional Interest; third, as a recovery of principal, to the extent such amounts have not been previously advanced, of such Mortgage Loan to the extent of its entire unpaid principal balance; and fourth, with respect to any ARD Loan after its Anticipated
Repayment Date, as a recovery of any unpaid Additional Interest.  No such amounts shall be applied to the items constituting additional servicing compensation as described in the first sentence of either Section 3.11(b) or 3.11(d) unless and until all principal and interest then due and payable on such Mortgage Loan has been collected.  Amounts collected on any REO Loan shall be deemed to be applied in accordance with the definition thereof.  The provisions of this paragraph with respect to the application of amounts collected on any Mortgage Loan shall not alter in any way the right of the Master Servicer, the Special Servicer or any other Person to receive payments from the Certificate Account as set forth in clauses (ii) through (xvi) of Section 3.05(a) from amounts so applied.


                    (c)          Within 60 days after the later of (i) the Closing Date and (ii) the Master Servicer’s receipt of the applicable letter of credit, the Master Servicer shall notify each provider of a letter of credit for each Mortgage Loan identified as having a letter of credit on the Mortgage Loan Schedule, that the Master Servicer or the Special Servicer on behalf of the Trustee for the benefit of the Certificateholders shall be the beneficiary under each such letter of credit.  If a draw upon a letter of credit is needed before its transfer to the Trust Fund can be completed, the applicable Mortgage Loan Seller shall draw upon such letter of credit for the benefit of the Trust Fund pursuant to written instructions from the Master Servicer.


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                    (d)          In the event that the Master Servicer or Special Servicer receives Additional Interest in any Collection Period, or receives notice from the related Mortgagor that the Master Servicer or Special Servicer will be receiving Additional Interest in any Collection Period, the Master Servicer or Special Servicer, as applicable, will promptly notify the Trustee.  Subject to the provisions of Section 3.02(a) hereof, none of the Master Servicer, the Trustee or the Special Servicer shall be responsible for any such Additional Interest not collected after notice from the related Mortgagor.


                    (e)          With respect to any Mortgage Loan in connection with which the Mortgagor was required to escrow funds or to post a letter of credit related to obtaining certain performance objectives described in the applicable Mortgage Loan documents, the Master Servicer shall, to the extent consistent with the Servicing Standard, hold such escrows, letters of credit and proceeds thereof as additional collateral and not apply such items to reduce the principal balance of such Mortgage Loan unless otherwise required to do so pursuant to the applicable Mortgage Loan documents.


          Section 3.03    Collection of Taxes, Assessments and Similar Items; Servicing Accounts; Reserve Accounts.


                    (a)          The Master Servicer shall, as to all Mortgage Loans (other than the Non-Serviced Mortgage Loans) and Companion Loans (other than the Non-Serviced Companion Loans), establish and maintain one or more accounts (the “Servicing Accounts”), into which all Escrow Payments shall be deposited and retained, and shall administer such accounts in accordance with the terms of the Mortgage Loan documents.  Each Servicing Account shall be an Eligible Account.  Withdrawals of amounts so collected from a Servicing Account may be made (to the extent amounts have been escrowed for such purpose) only to:  (i) effect payment of items for which Escrow Payments were collected and comparable items; (ii) reimburse the Master Servicer or the Trustee for any
unreimbursed Servicing Advances; (iii) refund to Mortgagors any sums as may be determined to be overages; (iv) pay interest, if required and as described below, to Mortgagors on balances in the Servicing Account; (v) pay itself interest and investment income on balances in the Servicing Account as described in Section 3.06(b), if and to the extent not required by law or the terms of the applicable Mortgage Loan to be paid to the Mortgagor; (vi) withdraw amounts deposited in error or (vii) clear and terminate the Servicing Account at the termination of this Agreement in accordance with Section 9.01.  To the extent permitted by law or the applicable Mortgage Loan, funds in the Servicing Accounts may be invested only in Permitted Investments in accordance with the provisions of Section 3.06 and in accordance with the terms of the related Mortgage Loan documents.  The Master Servicer shall pay or cause to be paid to the Mortgagors interest, if any, earned
on the investment of funds in Servicing Accounts maintained thereby, if required by law or the terms of the related Mortgage Loan.  If the Master Servicer shall deposit in a Servicing Account any amount not required to be deposited therein, it may at any time withdraw such amount from such Servicing Account, any provision herein to the contrary notwithstanding.  The Servicing Accounts shall not be considered part of the segregated pool of assets constituting REMIC I, REMIC II or the Grantor Trusts.


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                    (b)          The Master Servicer (for the Mortgage Loans other than Specially Serviced Mortgage Loans, the Non-Serviced Mortgage Loans and REO Loans) or the Special Servicer (for Specially Serviced Mortgage Loans and REO Loans) shall (i) maintain accurate records with respect to the related Mortgaged Property reflecting the status of real estate taxes, assessments and other similar items that are or may become a lien thereon and the status of insurance premiums and any ground rents payable in respect thereof and (ii) use reasonable efforts to obtain, from time to time, all bills for the payment of such items (including renewal premiums) and shall effect payment thereof prior to the applicable penalty or termination date and, in any event, prior to the institution of foreclosure or
similar proceedings with respect to the related Mortgaged Property for nonpayment of such items.  For purposes of effecting any such payment for which it is responsible, the Master Servicer shall apply Escrow Payments (at the direction of the Special Servicer for Specially Serviced Mortgage Loans and REO Loans) as allowed under the terms of the related Mortgage Loan or Companion Loan or, if such Mortgage Loan or Companion Loan does not require the related Mortgagor to escrow for the payment of real estate taxes, assessments, insurance premiums, ground rents (if applicable) and similar items, the Master Servicer shall, as to all Mortgage Loans or Companion Loans, use reasonable efforts consistent with the Servicing Standard to enforce the requirement of the related Mortgage that the Mortgagor make payments in respect of such items at the time they first become due, and, in any event, prior to the institution of foreclosure or similar proceedings with respect to the related Mortgaged Property for
nonpayment of such items.


                    (c)          The Master Servicer shall, as to all Mortgage Loans and Companion Loans (other than the Non-Serviced Mortgage Loans and their related Companion Loans), subject to Section 3.01(d), make a Servicing Advance with respect to the related Mortgaged Property in an amount equal to all such funds as are necessary for the purpose of effecting the payment of (i) real estate taxes, assessments, penalties and other similar items, (ii) ground rents (if applicable), and (iii) premiums on Insurance Policies in each instance if and to the extent Escrow Payments (if any) collected from the related Mortgagor are insufficient to pay such item when due and the related Mortgagor has failed to pay such item on a timely basis; provided that the Master Servicer shall not make any
Servicing Advance prior to the penalty date or cancellation date, as applicable, if the Master Servicer reasonably anticipates in accordance with the Servicing Standard that the Mortgagor will pay such amount on or before the penalty date or cancellation date; provided, further, that the Master Servicer shall not be obligated to make any Servicing Advance that would, if made, constitute a Nonrecoverable Servicing Advance but may, but is not required to, pay such amounts out of funds in the Certificate Account if it determines that such payment would be in the best interests of the Certificateholders and such payment may be withdrawn from amounts in the Certificate Account; provided that the Master Servicer shall conclusively rely upon any such nonrecoverability determination by the Special Servicer.  All such Servicing Advances or amounts withdrawn from the Certificate Account shall be reimbursable in the first instance from related collections from the Mortgagors, and
further as provided in Section 3.05(a).  No costs incurred by the Master Servicer or the Trustee in effecting the payment of real estate taxes, assessments and, if applicable, ground rents on or in respect of such Mortgaged Properties shall, for purposes of this Agreement, including, without limitation, the Paying Agent’s calculation of monthly distributions to Certificateholders, be added to the unpaid Stated Principal Balances of the related Mortgage Loans or Companion Loans, notwithstanding that the terms of such Mortgage Loans or Companion Loans so permit.  The foregoing shall in no way limit the Master Servicer’s ability to charge and collect from the Mortgagor such costs together with interest thereon.  


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                    The Special Servicer shall give the Master Servicer and the Trustee not less than 5 Business Days’ notice with respect to Servicing Advances to be made on any Specially Serviced Mortgage Loan or REO Property, before the date on which the Master Servicer is required to make any Servicing Advance with respect to a given Mortgage Loan, Companion Loan or REO Property; provided, however, that only 2 Business Days’ notice shall be required in respect of Servicing Advances required to be made on an urgent or emergency basis (which may include, without limitation, Servicing Advances required to make tax or insurance payments).  In addition, the Special Servicer shall provide the Master Servicer and the Trustee with such information in its possession as the Master Servicer or the Trustee, as applicable, may
reasonably request to enable the Master Servicer or the Trustee, as applicable, to determine whether a requested Servicing Advance would constitute a Nonrecoverable Servicing Advance.  Any request by the Special Servicer that the Master Servicer make a Servicing Advance shall be deemed to be a determination by the Special Servicer that such requested Servicing Advance is not a Nonrecoverable Servicing Advance, and the Master Servicer shall be entitled to conclusively rely on such determination.  On the fourth Business Day before each Distribution Date, the Special Servicer shall report to the Master Servicer the Special Servicer’s determination as to whether any Servicing Advance previously made with respect to a Specially Serviced Mortgage Loan or REO Loan is a Nonrecoverable Servicing Advance.  The Master Servicer shall conclusively rely on such a determination.


                    If the Master Servicer is required under any provision of this Agreement (including, but not limited to, this Section 3.03(c)) to make a Servicing Advance, but does not do so within 15 days after such Advance is required to be made (or such shorter period as may be required to avoid foreclosure of liens for delinquent real estate taxes or a lapse in insurance coverage), the Trustee shall, if a Responsible Officer of the Trustee has actual knowledge of such failure on the part of the Master Servicer, give written notice of such failure to the Master Servicer.  If such Servicing Advance is not made by the Master Servicer within 3 Business Days after such notice then (subject to a determination that such Servicing Advance would not be a Nonrecoverable Servicing Advance) the Trustee shall make such Servicing Advance.  Any failure
by the Master Servicer to make a Servicing Advance hereunder shall constitute an Event of Default by the Master Servicer subject to and as provided in Section 7.01.


                    (d)          In connection with its recovery of any Servicing Advance from the Certificate Account pursuant to Section 3.05(a), each of the Master Servicer and the Trustee shall be entitled to receive, out of any amounts then on deposit in the Certificate Account, any unpaid interest at the Reimbursement Rate in effect from time to time, compounded annually, accrued on the amount of such Servicing Advance (to the extent made with its own funds) from the date made to but not including the date of reimbursement such interest to be payable, subject to the terms of the related Intercreditor Agreement with respect to a Loan Pair, first out of late payment charges and Penalty Interest received on the related Mortgage Loan or REO Property during the Collection Period in which such reimbursement
is made, and to the extent that such late payment charges and Penalty Interest are insufficient, but only after or at the same time the related Advance has been or is reimbursed pursuant to this Agreement, then from general collections on the Mortgage Loans then on deposit in the Certificate Account.  The Master Servicer shall 


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reimburse itself or the Trustee, as applicable, for any outstanding Servicing Advance made thereby as soon as practicable after funds available for such purpose have been received by the Master Servicer, and in no event shall interest accrue in accordance with this Section 3.03(d) on any Servicing Advance as to which the corresponding Escrow Payment or other similar payment by the Mortgagor was received by the Master Servicer on or prior to the date the related Servicing Advance was made.  Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee make any Servicing Advances with respect to any Companion Loan after the related Co-Lender Loan has been paid in full.


                    (e)          The determination by the Master Servicer or the Special Servicer that the Master Servicer has made a Nonrecoverable Servicing Advance or that any proposed Servicing Advance, if made, would constitute a Nonrecoverable Servicing Advance, shall be made in accordance with the Servicing Standard and shall be evidenced by an Officer’s Certificate delivered promptly to the Trustee and the Depositor, setting forth the basis for such determination, together with a copy of any Appraisal (the cost of which may be paid out of the Certificate Account pursuant to Section 3.05(a)) of the related Mortgaged Property or REO Property, as the case may be; which Appraisal shall be conducted pursuant to Section 3.09(a) by the Master Servicer, or by or on behalf of the Special Servicer if the

Mortgage Loan is a Specially Serviced Mortgage Loan or, if no such Appraisal has been performed, a copy of an Appraisal of the related Mortgaged Property or REO Property, performed within the twelve months preceding such determination and the party delivering such appraisal has no actual knowledge of a material adverse change in the condition of the related Mortgaged Property that would draw into question the applicability of such Appraisal, by an Independent Appraiser or other expert in real estate matters, and further accompanied by related Mortgagor operating statements and financial statements, budgets and rent rolls of the related Mortgaged Property and any engineers’ reports, environmental surveys or similar reports that the Master Servicer or the Special Servicer may have obtained and that support such determination.  The Master Servicer shall be entitled to rely, conclusively, on any determination by the Special Servicer that a Servicing Advance, if made, would be a Nonrecoverable
Advance.  The Trustee (i) shall rely, conclusively, on any determination by the Master Servicer and (ii) shall conclusively rely on any determination by the Special Servicer that a Servicing Advance, if made, would be a Nonrecoverable Advance; provided, however, that if the Master Servicer has failed to make a Servicing Advance for reasons other than a determination by the Master Servicer or the Special Servicer that such Servicing Advance would be a Nonrecoverable Advance, the Trustee shall make such Servicing Advance within the time periods required by Section 3.03(c) unless the Trustee in good faith, makes a determination that such Servicing Advance would be a Nonrecoverable Advance.


                    (f)          The Master Servicer shall, as to all Mortgage Loans (other than the Non-Serviced Mortgage Loans) and Companion Loans (other than the Non-Serviced Companion Loans), establish and maintain, as applicable, one or more accounts (the “Reserve Accounts”), into which all Reserve Funds, if any, shall be deposited and retained.  Withdrawals of amounts so deposited may be made (i) to pay for, or to reimburse the related Mortgagor in connection with, the related environmental remediation, repairs and/or capital improvements at the related Mortgaged Property if the repairs and/or capital improvements have been completed, and such withdrawals are made in accordance with the Servicing Standard and the terms of the related Mortgage Note, Mortgage and any agreement with
the related Mortgagor governing such 


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Reserve Funds and any other items for which such Reserve Funds were intended pursuant to the related Mortgage Loan documents and (ii) to pay the Master Servicer interest and investment income earned on amounts in the Reserve Accounts as described below if permitted under the related Mortgage Loan documents.  To the extent permitted in the applicable Mortgage, funds in the Reserve Accounts to the extent invested may be only invested in Permitted Investments in accordance with the provisions of Section 3.06.  All Reserve Accounts shall be Eligible Accounts.  The Reserve Accounts shall not be considered part of the segregated pool of assets comprising REMIC I, REMIC II or the Grantor Trusts.  Consistent with the Servicing Standard, the Master Servicer may waive or extend the date set forth in any agreement governing such Reserve Funds by which the required repairs and/or capital improvements at the related Mortgaged Property
must be completed.


          Section 3.04    Certificate Account, Interest Reserve Account, Gain-on-Sale Reserve Account, Additional Interest Account, Distribution Account and Companion Distribution Account and Floating Rate Account.


                    (a)          The Master Servicer shall establish and maintain one or more accounts (collectively, the “Certificate Account”), held on behalf of the Trustee in trust for the benefit of the Certificateholders and, to the extent funds on deposit in the Certificate Account are allocable to the related Companion Loans (other than the Non-Serviced Companion Loans), the related Companion Holders, but solely to the extent set forth in the related Intercreditor Agreement and subject to any provisions relating to subordination of rights with respect to the Co-Lender Loans.  The Certificate Account shall be an Eligible Account.  The Master Servicer shall deposit or cause to be deposited in the Certificate Account, within 1 Business Day of receipt of available funds (in the
case of payments by Mortgagors or other collections on the Mortgage Loans or the Companion Loans) or as otherwise required hereunder, the following payments and collections received or made by the Master Servicer or on its behalf subsequent to the Cut-Off Date (other than in respect of principal and interest on the Mortgage Loans or the Companion Loans (other than the Non-Serviced Companion Loans) due and payable on or before the Cut-Off Date, which payments shall be delivered promptly to the applicable Mortgage Loan Seller or its designee, with negotiable instruments endorsed as necessary and appropriate without recourse), other than amounts received from Mortgagors which are to be used to purchase defeasance collateral, or payments (other than Principal Prepayments) received by it on or prior to the Cut-Off Date but allocable to a period subsequent thereto:


                                   (i)          all payments on account of principal of the Mortgage Loans or Companion Loans (other than the Non-Serviced Companion Loans), including Principal Prepayments;


                                   (ii)         all payments on account of interest on the Mortgage Loans or Companion Loans (other than the Non-Serviced Companion Loans), including Additional Interest;


                                   (iii)        all Prepayment Premiums and Yield Maintenance Charges;


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                                   (iv)         all Insurance Proceeds and Liquidation Proceeds (other than Liquidation Proceeds described in clause (vi) of the definition thereof that are required to be deposited in the Distribution Account pursuant to Section 9.01) received in respect of any Mortgage Loan or Companion Loan (other than the Non-Serviced Companion Loans) (including, without limitation, any amounts representing recoveries of Nonrecoverable Advances or Unliquidated Advances, including interest on such Nonrecoverable Advances or Unliquidated Advances in respect of the related Mortgage Loans);


                                   (v)          any amounts required to be deposited by the Master Servicer pursuant to Section 3.06(b) in connection with losses incurred with respect to Permitted Investments of funds held in the Certificate Account;


                                   (vi)         any amounts required to be deposited by the Master Servicer or the Special Servicer pursuant to Section 3.07(b) in connection with losses resulting from a deductible clause in a blanket hazard policy;


                                   (vii)        any amounts required to be transferred from an REO Account pursuant to Section 3.16(c) and any amounts received from a Mortgage Loan Seller with respect to a Special Reserve Account pursuant to Section 2.02(d);


                                   (viii)       any amount in respect of Purchase Prices and Substitution Shortfall Amounts pursuant to Section 2.03(b);


                                   (ix)         any amount required to be deposited by the Master Servicer pursuant to Section 3.19(a) in connection with Prepayment Interest Shortfalls;


                                   (x)          any amount required to be deposited by the Master Servicer pursuant to Section 3.03(d) and 4.03(d) in connection with reimbursing the Trust Fund for interest paid on a P&I Advance or Servicing Advance, as applicable;


                                   (xi)         any amount paid by a Mortgagor to cover items for which a Servicing Advance has been previously made and for which the Master Servicer, the Special Servicer or the Trustee, as applicable, has been previously reimbursed out of the Certificate Account;


                                   (xii)        any amount required to be deposited by the Master Servicer or the Special Servicer pursuant to Section 3.11(b) and 3.11(d), respectively, in connection with reimbursing the Trust Fund for Additional Trust Fund Expenses; and


                                   (xiii)       all amounts remitted or advanced by the 2007-C30 Master Servicer, the Morgan Stanley 2007-IQ14 Master Servicer or the GECMC 2007-C1 Master Servicer in respect of the 2007-C30 Serviced Mortgage Loans, the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan and the GECMC 2007-C1 Serviced Mortgage Loan, as the case may be, pursuant to the 2007-C30 Pooling and Servicing Agreement, the Morgan Stanley 2007-IQ14 Pooling and Servicing Agreement and the GECMC 2007-C1 Pooling and Servicing Agreement and the related Intercreditor Agreements.



                    The
foregoing requirements for deposit in the Certificate Account shall be
exclusive.  Notwithstanding the foregoing, actual payments from Mortgagors
in the nature of Escrow Payments, amounts to be deposited in Reserve Accounts,
and amounts that the Master 



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Servicer and the Special Servicer are entitled to
retain as additional servicing compensation pursuant to Sections 3.11(b) and
3.11(d), need not be deposited by the Master Servicer in the Certificate
Account.  If the Master Servicer shall deposit in the Certificate Account
any amount not required to be deposited therein, it may at any time withdraw
such amount from the Certificate Account, any provision herein to the contrary
notwithstanding.  The Master Servicer shall promptly deliver to the Special
Servicer as additional servicing compensation in accordance with
Section 3.11(d), assumption fees, late payment charges (to the extent not
applied to pay interest on Advances as provided in Sections 3.03(d) or 4.03(d)
or Additional Trust Fund Expenses as provided in Section 3.11(d)) and other
transaction fees or other expenses received by the Master Servicer to which the
Special Servicer is entitled pursuant to either of such Sections upon receipt of
a certificate of a Servicing Officer of the Special Servicer describing the item
and amount.  The Certificate Account shall be maintained as a segregated
account, separate and apart from trust funds created for mortgage pass-through
certificates of other series and the other accounts of the Master
Servicer.


                    The Master Servicer may maintain, as part of the Certificate Account, a subaccount for each Companion Loan (other than the Non-Serviced Companion Loans) on behalf of and in trust for the benefit of the related Companion Holder, into which subaccount the Master Servicer shall deposit or cause to be deposited all amounts described in the first paragraph of this Section 3.04(a) to the extent allocable to the related Companion Loan in accordance with this Agreement and the related Intercreditor Agreement, and out of which subaccount the Master Servicer may make withdrawals to the extent withdrawals of such funds are provided for in Section 3.05(a) of this Agreement or in the related Intercreditor Agreement.  Each such subaccount shall be an Eligible Account or a subaccount of an Eligible Account and shall be entitled “Wachovia
Bank, National Association, as Master Servicer, on behalf of and in trust for the related Companion Holder.”


                    Upon receipt of any of the amounts described in clauses (i) through (iv), (xi), (xii) and (xiii) above with respect to any Mortgage Loan or Companion Loan, the Special Servicer shall promptly, but in no event later than one Business Day after receipt of available funds, remit such amounts (net of any reimbursable expenses incurred by the Special Servicer) to or at the direction of the Master Servicer for deposit into the Certificate Account in accordance with the second preceding paragraph, unless the Special Servicer determines, consistent with the Servicing Standard, that a particular item should not be deposited because of a restrictive endorsement.  Any such amounts received by the Special Servicer with respect to an REO Property shall be deposited by the Special Servicer into the REO Account and remitted to the Master
Servicer for deposit into the Certificate Account pursuant to Section 3.16(c).  With respect to any such amounts paid by check to the order of the Special Servicer, the Special Servicer shall endorse such check to the order of the Master Servicer and shall deliver promptly, but in no event later than three Business Days after receipt, any such check to the Master Servicer by overnight courier, unless the Special Servicer determines, consistent with the Servicing Standard, that a particular item cannot be so endorsed and delivered because of a restrictive endorsement or other appropriate reason.



                    (b)          The
Trustee shall establish and maintain one or more trust accounts (collectively,
the “Distribution Account”) at the office of the Trustee to be
held in trust for the benefit of the Certificateholders (other than the Class Z
Certificateholders).  The Distribution 


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Account shall be an Eligible
Account.  The Trustee hereby authorizes the Paying Agent to make deposits
in and withdrawals from the Distribution Account in accordance with the terms of
this Agreement.  The Master Servicer shall deliver to the Paying Agent each
month on or before 1:30 p.m. New York City time on the P&I Advance Date
therein, for deposit in the Distribution Account, an aggregate amount of
immediately available funds equal to that portion of the Available Distribution
Amount (calculated without regard to clauses (a)(ii), (a)(v) and (b)(ii)(B)
of the definition thereof) for the related Distribution Date then on deposit in
the Certificate Account, together with (i) any Prepayment Premiums and/or
Yield Maintenance Charges received on the Mortgage Loans during the related
Collection Period, and (ii) in the case of the final Distribution Date, any
additional amounts contemplated by the third paragraph of
Section 9.01.


                    The Companion Paying Agent shall establish and maintain one or more trust accounts for distributions to the Companion Loans (other than the Non-Serviced Companion Loans) (collectively, the “Companion Distribution Account”) to be held on behalf of the related Companion Holder(s).  The Companion Distribution Account shall be an Eligible Account and may be a subaccount of the Certificate Account.  The Master Servicer hereby authorizes the Companion Paying Agent to make deposits in and withdrawals from the Companion Distribution Account in accordance with the terms of this Agreement.  Unless the Companion Distribution Account is the related subaccount or subaccounts of the Certificate Account as allowed by the last sentence of the definition of Companion Distribution Account, the Master Servicer shall deliver to the
Companion Paying Agent each month on or before 2:00 p.m. New York City time on the P&I Advance Date therein for deposit in the Companion Distribution Account, an aggregate amount of immediately available funds equal to the amount available to be distributed to the related Companion Holder(s) pursuant to the related Intercreditor Agreement.


                    In addition, the Master Servicer shall, as and when required hereunder, deliver to the Paying Agent for deposit in the Distribution Account:


                                  (i)          any P&I Advances required to be made by the Master Servicer in accordance with Section 4.03(a); and


                                  (ii)         the Purchase Price paid in connection with the purchase by the Master Servicer of all of the Mortgage Loans and any REO Properties, pursuant to Section 9.01, exclusive of the portion of such amounts required to be deposited in the Certificate Account pursuant to Section 9.01.


                    The Paying Agent shall, upon receipt, deposit in the Distribution Account any and all amounts received by the Paying Agent that are required by the terms of this Agreement to be deposited therein.


                    (c)          The Trustee shall establish and maintain one or more accounts (collectively, the “Interest Reserve Account”), held in trust for the benefit of the Certificateholders.  The Interest Reserve Account shall be an Eligible Account.  On or before each Distribution Date in February and, during each year that is not a leap year, January (unless, in each case, the related Distribution Date is the final Distribution Date), the Master Servicer shall withdraw from the Certificate Account and remit to the Trustee for deposit in the Interest 


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Reserve Account, with respect to each Interest Reserve Loan, an amount equal to the Interest Reserve Amount in respect of such Interest Reserve Loan, for such Distribution Date (such withdrawal from the Certificate Account to be made out of general collections on the Mortgage Pool where any related P&I Advance was deposited in the Distribution Account).


                    (d)          Prior to any Collection Period during which Additional Interest is received, and upon notification from the Master Servicer or Special Servicer pursuant to Section 3.02(d), the Trustee (on behalf of the Certificateholders) shall establish and maintain the Additional Interest Account in the name of the Trustee in trust for the benefit of the Class Z Certificateholders.  The Additional Interest Account shall be established and maintained as an Eligible Account.  Prior to the applicable Distribution Date, the Master Servicer shall remit to the Trustee for deposit in the Additional Interest Account an amount equal to the Additional Interest received during the applicable Collection Period.


                    Following the distribution of Additional Interest to the Class Z Certificateholders, on the first Distribution Date after which there are no longer any Mortgage Loans outstanding which pursuant to their terms could pay Additional Interest, the Trustee shall terminate the Additional Interest Account.


                    (e)          The Paying Agent, on behalf of the Trustee for the benefit of the Certificateholders, shall establish (upon notice from Special Servicer of an event occurring that generates Gain-on-Sale Proceeds) and maintain the Gain-on-Sale Reserve Account in the name of the Paying Agent on behalf of the Trustee for the benefit of the Certificateholders.  The Gain-on-Sale Reserve Account shall be maintained as a segregated account, separate and apart from trust funds for mortgage pass-through certificates of other series administered by the Paying Agent and other accounts of the Paying Agent.  Upon the disposition of any REO Property in accordance with Section 3.09 or Section 3.18, the Special Servicer will calculate the Gain-on-Sale Proceeds, if any, realized in connection with

such sale and remit such funds to the Paying Agent for deposit into the Gain-on-Sale Reserve Account.


                    (f)          Funds in the Certificate Account, the Interest Reserve Account, the Distribution Account, the Floating Rate Accounts, the Additional Interest Account, the Interest Shortfall Account and the Gain-on-Sale Reserve Account may be invested only in Permitted Investments in accordance with the provisions of Section 3.06.  Funds on deposit in the Gain-on-Sale Reserve Account shall be invested pursuant to Section 3.06.  The Master Servicer shall give written notice to the Trustee, the Special Servicer and the Rating Agencies of the location of the Certificate Account as of the Closing Date and of the new location of the Certificate Account prior to any change thereof.  The Paying Agent shall give written notice to the Trustee, the Master Servicer, the Special
Servicer and the Rating Agencies of any new location of the Distribution Account prior to any change thereof.


                    (g)          On or before the Closing Date, the Paying Agent shall establish and maintain the Floating Rate Account in trust for the benefit of the Class A-5FL Certificateholders and the Swap Counterparty.  The Floating Rate Account shall (i) at all times be an Eligible Account and (ii) relate solely to the Class A-5FL Certificates and amounts payable in respect of the Swap Contract.  The Paying Agent shall deposit into the Floating Rate Account all amounts received in respect of distributions on the Class A-5FL Regular Interest as specified in Section 3.04(b), and shall immediately deposit into the Floating Rate Account all amounts received under the Swap Contract.


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                    (h)          On or before the Closing Date, the Trustee shall establish and maintain one or more accounts (collectively, the “Interest Shortfall Account”), held on behalf of the Trustee in trust for the benefit of the Certificateholders.  On the Closing Date, the Depositor shall deposit or cause to be deposited the Interest Shortfall Amount.


          Section 3.05    Permitted Withdrawals from the Certificate Account, Distribution Account, Interest Reserve Account, Additional Interest Account, Gain-on-Sale Reserve Account, Companion Distribution Account, Floating Rate Account and Interest Shortfall Account.


                    (a)          The Master Servicer may, from time to time, make withdrawals from the Certificate Account for any of the following purposes (the order set forth below not constituting an order of priority for such withdrawals):


                                  (i)          (A) to remit to the Paying Agent for deposit in the Distribution Account the amounts required to be so deposited pursuant to the first paragraph of Section 3.04(b) and any amount that may be applied to make P&I Advances pursuant to Section 4.03(a); and (B) to deposit in and remit to the Companion Paying Agent for deposit in each Companion Distribution Account the amounts required to be so deposited pursuant to the second paragraph of Section 3.04(b) and any amount relating to a Companion Loan (other than the Non-Serviced Companion Loans) that may be applied to make P&I Advances pursuant to Section 4.03(a);


                                  (ii)         to reimburse the Trustee and itself, in that order, for unreimbursed P&I Advances (the Trustee’s and Master Servicer’s right to reimbursement pursuant to this clause (ii) with respect to any P&I Advance (other than Nonrecoverable Advances and Workout-Delayed Reimbursement Amounts that are reimbursed pursuant to clause (vii) below) being limited to amounts that represent Late Collections of interest (net of the related Servicing Fees) and principal (net of any related Workout Fee or Liquidation Fee) received in respect of the particular Mortgage Loan, REO Loan or Companion Loan as to which such P&I Advance was made);


                                  (iii)       to pay to itself earned and unpaid Master Servicing Fees in respect of each Mortgage Loan and REO Loan, the Master Servicer’s right to payment pursuant to this clause (iii) with respect to any Mortgage Loan or REO Loan being limited to amounts received on or in respect of such Mortgage Loan (whether in the form of payments, Liquidation Proceeds or Insurance Proceeds) or such REO Loan (whether in the form of REO Revenues, Liquidation Proceeds or Insurance Proceeds) that are allocable as a recovery of interest thereon;


                                  (iv)         to pay to the Special Servicer earned and unpaid Special Servicing Fees in respect of each Specially Serviced Mortgage Loan and REO Loan;


                                  (v)          to pay the Special Servicer (or, if applicable, a predecessor Special Servicer) earned and unpaid Workout Fees or Liquidation Fees in respect of each Specially Serviced Mortgage Loan, Corrected Mortgage Loan, and REO Loan, the Special Servicer’s (or, if applicable, any predecessor Special Servicer’s) right to payment pursuant to this 


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clause (v) with respect to any such Mortgage Loan or REO Loan being limited to amounts received on or in respect of such Specially Serviced Mortgage Loan or Corrected Mortgage Loan (whether in the form of payments or Liquidation Proceeds) or such REO Loan (whether in the form of REO Revenues or Liquidation Proceeds) that are allocable as a recovery of principal or interest thereon (provided that no Liquidation Fee shall be payable out of (i) Insurance Proceeds and (ii) any Liquidation Proceeds received in connection with the purchase of any Mortgage Loan or REO Property by a Mortgage Loan Seller pursuant to the applicable Mortgage Loan Purchase Agreement (if purchased within the required time period set forth in such Mortgage Loan Purchase Agreement), by the Special Servicer, the Companion Holder or the Majority Subordinate Certificateholder, as described in Section 3.18(c), Section 3.18(d), Section 3.18(e) or
Section 3.18(h), or by any mezzanine lender pursuant to the terms of the related mezzanine intercreditor agreement, or by the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder or the purchasing Certificateholder pursuant to Section 9.01);


                                  (vi)         to reimburse the Trustee, itself or the Special Servicer, in that order, for any unreimbursed Servicing Advances, the Trustee’s, the Master Servicer’s and the Special Servicer’s respective rights to reimbursement pursuant to this clause (vi) with respect to any Servicing Advance (other than Nonrecoverable Advances and Workout-Delayed Reimbursement Amounts that are reimbursed pursuant to clause (vii) below) being limited to payments made by the related Mortgagor that are allocable to such Servicing Advance, or to Liquidation Proceeds, Insurance Proceeds and, if applicable, REO Revenues received in respect of the particular Mortgage Loan, Companion Loan or REO Property as

to which such Servicing Advance was made (provided that in case of such reimbursement relating to any Co-Lender Loan, such reimbursements shall be made first, from amounts collected on the related Subordinate Companion Loan and then from the related Co-Lender Loan (and Pari Passu Companion Loan, if any) in accordance with the terms of the related Intercreditor Agreement);


                                  (vii)        to reimburse the Trustee, itself or the Special Servicer, in that order, (A) for any unreimbursed Advances (including interest at the Reimbursement Rate) that have been or are determined to be Nonrecoverable Advances and for any Workout-Delayed Reimbursement Amounts, in that order, and (B) to pay itself, with respect to any Mortgage Loan (including, if applicable, the Non-Serviced Mortgage Loans), Companion Loan or any REO Property, any related earned Master Servicing Fee that remained unpaid in accordance with clause (iii) above, in the case of clause (B), following a Final Recovery Determination made with respect to such Mortgage Loan or REO Property and the deposit into the
Certificate Account of all amounts received in connection therewith; provided, however, that any reimbursement of Nonrecoverable Advances or Workout Delayed Reimbursement Amounts payable pursuant to this clause (vii), with respect to Nonrecoverable Advances shall be deemed to be recovered, first, from collections or receipts on the Mortgage Loans and REO Properties in respect of principal and then in respect of interest and other collections, and, with respect to Workout Delayed Reimbursement Amounts, only out of collections and receipts on the Mortgage Loans and REO Properties in respect of principal;


                                  (viii)       to reimburse the 2007-C30 Master Servicer, the 2007-C30 Special Servicer, the Morgan Stanley 2007-IQ14 Master Servicer, the Morgan Stanley 2007-IQ14 Special Servicer, the GECMC 2007-C1 Master Servicer or the GECMC 2007-C1 Special Servicer for unreimbursed advances (including interest on such advances) made by such party 


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pursuant to the 2007-C30 Pooling and Servicing Agreement, in respect of the 2007-C30 Serviced Mortgage Loans, the Morgan Stanley 2007-IQ14 Pooling and Servicing Agreement, in respect of the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan, or the GECMC 2007-C1 Pooling and Servicing Agreement, in respect of the GECMC 2007-C1 Serviced Mortgage Loan, as the case may be, (other than principal and interest advances made on their related Pari Passu Companion Loans), that have been or are determined to be nonrecoverable advances and for any workout-delayed reimbursement amounts, in that order, pursuant to the terms of the 2007-C30 Pooling and Servicing Agreement, the Morgan Stanley 2007-IQ14 Pooling and Servicing Agreement or the GECMC 2007-C1 Pooling and Servicing Agreement (up to, with respect to a servicing advance, each of the 2007-C30 Serviced Mortgage Loan’s, the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan’s and the GECMC 2007-C1 Serviced Mortgage
Loan’s pro rata share of such advance, as applicable, or if the amount of such pro rata share, together with amounts available from collections in the certificate account created under the 2007-C30 Pooling and Servicing Agreement, the Morgan Stanley 2007-IQ14 Pooling and Servicing Agreement or the GECMC 2007-C1 Pooling and Servicing Agreement, as applicable, is insufficient to reimburse the party that made such advance, then up to the full amount of such advance made on any of the 2007-C30 Serviced Mortgage Loans, the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan and the GECMC 2007-C1 Serviced Mortgage Loan, as the case may be, and interest thereon); provided, however, any reimbursement of nonrecoverable advances or workout delayed reimbursement amounts payable pursuant to this clause (viii), with respect to nonrecoverable advances, shall be deemed to be recovered, first, from collections or receipts on the Mortgage Loans and REO Properties in respect of
principal and then in respect of interest and other collections, and, with respect to workout delayed reimbursement amounts, only out of collections and receipts on the Mortgage Loans and REO Properties in respect of principal;


                                  (ix)         at such time as it reimburses the Trustee, itself or the Special Servicer, in that order, for any unreimbursed Advance (including any Advance that constitutes a Workout-Delayed Reimbursement Amount) pursuant to clause (ii), (vi), (vii) or (viii) above, to pay the Trustee, itself or the Special Servicer, as the case may be, in that order, any interest accrued and payable thereon in accordance with Section 3.03(d) or 4.03(d); provided that the Trustee’s, the Master Servicer’s and the Special Servicer’s rights to payment pursuant to this clause (ix) with respect to interest on any Advance shall be satisfied (A) subject to and in accordance with the terms of the
Intercreditor Agreement with respect to the related Loan Pair, first out of late payment charges and Penalty Interest collected on or in respect of the related Mortgage Loan (and if the Advance was made with respect to a Co-Lender Loan other than a Non-Serviced Mortgage Loan, out of such amounts collected on or in respect of the related Companion Loan(s)) and REO Loan, during the Collection Period in which such Advance is reimbursed (the use of such late payment charges and Penalty Interest to be allocated between the Master Servicer and the Special Servicer on a pro rata basis based on the amount of late payment charges and Penalty Interest that the Master Servicer and the Special Servicer have received as additional servicing compensation during such period), and (B) to the extent that the late payment charges and Penalty Interest described in the immediately preceding clause (A) are insufficient, but only at the same time or after such Advance has been reimbursed, out of
general collections on the Mortgage Loans, Companion Loans and any REO Properties on deposit in the Certificate Account;


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                                  (x)          to pay for costs and expenses incurred by the Trust Fund pursuant to the first sentence of Section 3.12(a) or, pursuant to Section 3.12, as to any Mortgage Loan that is a Specially Serviced Mortgage Loan;


                                  (xi)         to pay itself, as additional servicing compensation in accordance with Section 3.11(b), (A) interest and investment income earned in respect of amounts held in the Certificate Account as provided in Section 3.06(b), but only to the extent of the Net Investment Earnings with respect to the Certificate Account for any Collection Period; (B) any Prepayment Interest Excesses, and (C) Penalty Interest and late payment charges on Mortgage Loans that are not Specially Serviced Mortgage Loans (to the extent such Penalty Interest and/or late payment charges were not applied to offset interest on Advances pursuant to Section 3.05(a)(ix)(A) or Additional Trust Fund Expenses pursuant to

Section 3.11(b) or inspection expenses pursuant to Section 3.12(a));


                                  (xii)        to pay to the Special Servicer, as additional servicing compensation in accordance with Section 3.11(d) (to the extent such Penalty Interest and/or late payment charges were not applied to offset interest on Advances pursuant to clause (ix)(A) of this Section or Additional Trust Fund Expenses pursuant to Section 3.11(d) or inspection expenses pursuant to Section 3.12(a));


                                  (xiii)       to pay for the cost of an independent appraiser or other expert in real estate matters retained pursuant to Section 3.03(e), 3.09(a), 3.18(b), 4.03(c) or 9.01;


                                  (xiv)        to pay itself, the Special Servicer, the Depositor, or any of their respective directors, officers, members, managers, employees and agents, as the case may be, any amounts payable to any such Person pursuant to Section 6.03;


                                  (xv)         to pay for (A) the advice of counsel and tax accountants contemplated by Section 3.17(a)(iii), (B) the cost of the Opinions of Counsel contemplated by Sections 3.09(b)(ii), 3.20(d) and 11.02(a), (C) the cost of an Opinion of Counsel contemplated by Section 11.01(a) or 11.01(c) in connection with any amendment to this Agreement requested by the Master Servicer or the Special Servicer that protects or is in furtherance of the rights and interests of Certificateholders, and (D) the cost of recording this Agreement in accordance with Section 11.02(a);


                                  (xvi)        to pay itself, the Special Servicer, any of the Mortgage Loan Sellers, the Majority Subordinate Certificateholder, a Companion Holder, a mezzanine lender or any other Person, as the case may be, with respect to each Mortgage Loan, if any, previously purchased by such Person pursuant to this Agreement, all amounts received thereon subsequent to the date of purchase;


                                  (xvii)       to withdraw any Interest Reserve Amount and remit such Interest Reserve Amount to the Trustee for deposit into the Interest Reserve Account pursuant to Section 3.04(c);


                                  (xviii)      to remit to the Trustee for deposit into the Additional Interest Account the amounts required to be deposited pursuant to Section 3.04(d);


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                                  (xix)        to remit to the Paying Agent for deposit into the Distribution Account the amounts required to be deposited pursuant to Section 3.04(b);


                                  (xx)         to remit to the Companion Paying Agent for deposit into the Companion Distribution Account the amounts required to be deposited pursuant to Section 3.04(b);


                                  (xxi)        to pay the cost of any Environmental Assessment or any remedial, corrective or other action pursuant to Section 3.09(c);


                                  (xxii)       to withdraw any amounts deposited in error;


                                  (xxiii)      to withdraw any other amounts that this Agreement expressly provides may be withdrawn from the Certificate Account; and


                                  (xxiv)      to clear and terminate the Certificate Account at the termination of this Agreement pursuant to Section 9.01.


                    The Master Servicer shall keep and maintain separate accounting records, on a loan-by-loan basis when appropriate, in connection with any withdrawal from the Certificate Account pursuant to clauses (ii)-(xxiv) above.  Upon request, the Master Servicer shall provide to the Trustee such records and any other information in the possession of the Master Servicer to enable the Trustee to determine the amounts attributable to REMIC I (with respect to the Mortgage Loans) and the Companion Loans.  The Master Servicer shall, to the extent permitted by the terms of the related Intercreditor Agreement, make claims for reimbursement from the related Companion Holder in connection with related Servicing Advances and interest thereon and other related expenses so as to minimize the total amount of withdrawals on the Certificate Account
for such items.  Nothing in the foregoing sentence shall limit the Master Servicer’s rights to be reimbursed for claims relating to the Companion Loans that are reimbursable claims pursuant to the terms of this Agreement.  Notwithstanding anything in this Section 3.05(a) to the contrary, in no event shall the Master Servicer withdraw from funds on deposit in the Certificate Account any amount to be applied to, or to provide reimbursement for, any amounts referenced in this Section 3.05(a) (other than amounts referenced in clause (xx)) which relate to any Companion Loan to the extent the related Co-Lender Loan has been paid in full in a prior Collection Period.  For the avoidance of doubt, in no event shall the Master Servicer withdraw from funds on deposit in the Certificate Account any amounts allocable to the Five Times Square Pari Passu Companion Loan, the Five Times Square Subordinate Companion Loan, the Beacon D.C. & Seattle Pool Pari Passu Companion Loans,
the 666 Fifth Avenue Pari Passu Companion Loans, the Peter Cooper Village & Stuyvesant Town Pari Passu Companion Loan and the Peter Cooper Village & Stuyvesant Town Future Pari Passu Companion Loan, if advanced, (other than Penalty Interest and late payment charges) to be applied to, or to provide reimbursement for, any costs, expenses, indemnities, losses or liabilities relating or allocable to any Mortgage Loan or Companion Loan other than the Five Times Square Pari Passu Companion Loan, the Five Times Square Subordinate Companion Loan, the Beacon D.C. & Seattle Pool Pari Passu Companion Loan, the 666 Fifth Avenue Pari Passu Companion Loan, the Peter Cooper Village & Stuyvesant Town Pari Passu Companion Loan and the Peter Cooper Village & Stuyvesant Town Future Pari Passu Companion Loan, if advanced, or the Non-Serviced Mortgage Loans, as applicable.


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                    The Master Servicer shall pay to the Special Servicer (or to third party contractors at the direction of the Special Servicer) or the Trustee from the Certificate Account amounts permitted to be paid to the Special Servicer (or to such third party contractors) or the Trustee therefrom promptly upon receipt of a certificate of a Servicing Officer of the Special Servicer or of a Responsible Officer of the Trustee, describing the item and amount to which the Special Servicer (or such third party contractors) or the Trustee is entitled.  The Master Servicer may rely conclusively on any such certificate and shall have no duty to re-calculate the amounts stated therein.  With respect to any reimbursement to be made hereunder to the 2007-C30 Master Servicer, the 2007-C30 Special Servicer, the 2007-C30 Trustee, the Morgan Stanley 2007-IQ14
Master Servicer, the Morgan Stanley 2007-IQ14 Special Servicer, the Morgan Stanley 2007-IQ14 Trustee, the GECMC 2007-C1 Master Servicer, the GECMC 2007-C1 Special Servicer or the GECMC 2007-C1 Trustee in respect of any Servicing Advance (as defined in the 2007-C30 Pooling and Servicing Agreement, the Morgan Stanley 2007-IQ14 Pooling and Servicing Agreement or the GECMC 2007-C1 Pooling and Servicing Agreement, as the case may be) made by such parties subsequently determined to be a nonrecoverable advance pursuant to the terms of the 2007-C30 Pooling and Servicing Agreement, the Morgan Stanley 2007-IQ14 Pooling and Servicing Agreement or the GECMC 2007-C1 Pooling and Servicing Agreement, as the case may be, the Master Servicer may conclusively rely on a written statement from such party delivered to the Master Servicer that such Advance (as defined in the 2007-C30 Pooling and Servicing Agreement, the Morgan Stanley 2007-IQ14 Pooling and Servicing Agreement or the GECMC 2007-C1 Pooling and Servicing
Agreement, as the case may be) is a nonrecoverable advance under the terms of the 2007-C30 Pooling and Servicing Agreement, the Morgan Stanley 2007-IQ14 Pooling and Servicing Agreement or the GECMC 2007-C1 Pooling and Servicing Agreement, as the case may be.  The Special Servicer shall keep and maintain separate accounting for each Specially Serviced Mortgage Loan and REO Property, on a loan-by-loan and property-by-property basis, for the purpose of justifying any request for withdrawal from the Certificate Account.  With respect to each Mortgage Loan or Companion Loan for which it makes an Advance, the Trustee shall similarly keep and maintain separate accounting for each Mortgage Loan or Companion Loan, on a loan-by-loan and property-by-property basis, for the purpose of justifying any request for withdrawal from the Certificate Account for reimbursements of Advances or interest thereon.


                    Upon the determination that a previously made Advance is a Nonrecoverable Advance, instead of obtaining reimbursement out of general collections immediately, the Master Servicer or the Trustee, as applicable, may, in its sole discretion, elect to obtain reimbursement for such Nonrecoverable Advance over time (not to exceed 12 months or such longer period of time as agreed to by the Master Servicer or the Trustee, as applicable, and the Controlling Class Representative, each in its sole discretion) and the unreimbursed portion of such Advance will accrue interest at the Prime Rate.  At any time after such a determination to obtain reimbursement over time, the Master Servicer, the Special Servicer or the Trustee, as applicable, may, in its sole discretion and subject to the immediately following paragraph, decide to obtain
reimbursement immediately.  The fact that a decision to recover such Nonrecoverable Advances over time, or not to do so, benefits some Classes of Certificateholders to the detriment of other Classes shall not, with respect to the Master Servicer, constitute a violation of the Servicing Standard and/or with respect to the Trustee, constitute a violation of any fiduciary duty to Certificateholders or contractual duty hereunder.


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                    The Master Servicer or the Trustee, as applicable, shall give Moody’s and S&P at least 15 days notice prior to any reimbursement to it of Nonrecoverable Advances from amounts in the Certificate Account allocable to interest on the Mortgage Loans unless (1) the Master Servicer or the Trustee, as applicable, determines in its sole discretion that waiting 15 days after such a notice could jeopardize the Master Servicer’s or the Trustee’s ability, as applicable, to recover such Nonrecoverable Advances, (2) changed circumstances or new or different information becomes known to the Master Servicer or the Trustee, as applicable, that could affect or cause a determination of whether any Advance is a Nonrecoverable Advance, whether to defer reimbursement of a Nonrecoverable Advance or the determination in clause (1) above, or
(3) the Master Servicer has not timely received from the Trustee information requested by the Master Servicer to consider in determining whether to defer reimbursement of a Nonrecoverable Advance; provided that if clause (1), (2) or (3) applies, the Master Servicer or the Trustee, as applicable, shall give Moody’s and S&P notice of an anticipated reimbursement to it of Nonrecoverable Advances from amounts in the Certificate Account or Distribution Account, as applicable, allocable to interest on the Mortgage Loans as soon as reasonably practicable in such circumstances.  The Master Servicer and the Trustee, as applicable, shall have no liability for any loss, liability or expense resulting from any notice provided to Moody’s and S&P contemplated by the immediately preceding sentence.


                    If the Master Servicer or the Trustee, as applicable, is reimbursed out of general collections for any unreimbursed Advances that are determined to be Nonrecoverable Advances (together with any interest accrued and payable thereon), then (for purposes of calculating distributions on the Certificates) such reimbursement and payment of interest shall be deemed to have been made:  first, out of the Principal Distribution Amount, which, but for its application to reimburse a Nonrecoverable Advance and/or to pay interest thereon, would be included in the Available Distribution Amount, for any subsequent Distribution Date, and second, out of other amounts which, but for their application to reimburse a Nonrecoverable Advance and/or to pay interest thereon, would be included in the Available Distribution Amount for any subsequent Distribution
Date.  If and to the extent that any payment is deemed to be applied in accordance with clause first above to reimburse a Nonrecoverable Advance or to pay interest thereon, then the Principal Distribution Amount for such Distribution Date shall be reduced, to not less than zero, by the amount of such reimbursement.  If and to the extent (i) any Advance is determined to be a Nonrecoverable Advance, (ii) such Advance and/or interest thereon is reimbursed out of the Principal Distribution Amount as contemplated by clause first of the immediately preceding sentence and (iii) the particular item for which such Advance was originally made is subsequently collected out of payments or other collections in respect of the related Mortgage Loan, then the Principal Distribution Amount for the Distribution Date that corresponds to the Collection Period in which such item was recovered shall be increased by an amount equal to the lesser of (A) the amount of such item and (B) any
previous reduction in the Principal Distribution Amount for a prior Distribution Date pursuant to clause first above resulting from the reimbursement of the subject Advance and/or the payment of interest thereon.


                    (b)          The Paying Agent may, from time to time, make withdrawals from the Distribution Account for any of the following purposes (in no particular order of priority):


                                   (i)          to make deemed distributions to itself as holder of the REMIC I Regular Interests, to make distributions to the Floating Rate Accounts with respect to the Class A-5FL Regular Interest and to make distributions to Certificateholders on each Distribution Date, pursuant to Sections 4.01 and 9.01, as applicable;


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                                   (ii)         to pay the Trustee or any of its directors, officers, employees and agents, as the case may be, any amounts payable or reimbursable to any such Person pursuant to Section 8.05;


                                   (iii)        to pay the Trustee the Trustee Fee as contemplated by Section 8.05(a) hereof with respect to each Mortgage Loan and REO Loan and to pay the Trustee, as additional compensation, interest and investment income, if any, earned in respect of amounts held in the Distribution Account as provided in Section 3.06, but only to the extent of the Net Investment Earnings with respect to such account for the related Distribution Date;


                                   (iv)        to pay for the cost of the Opinions of Counsel sought by the Trustee (A) as provided in clause (v) of the definition of “Disqualified Organization”, (B) as contemplated by Section 3.20(d), 9.02(a) and 10.01(h), or (C) as contemplated by Section 11.01(a) or 11.01(c) in connection with any amendment to this Agreement requested by the Trustee which amendment is in furtherance of the rights and interests of Certificateholders; 


                                   (v)         to pay any and all federal, state and local taxes imposed on REMIC I or REMIC II or on the assets or transactions of either such REMIC, together with all incidental costs and expenses, to the extent none of the Trustee, the REMIC Administrator, the Master Servicer or the Special Servicer is liable therefor pursuant to Section 10.01(i); 


                                   (vi)        to pay the REMIC Administrator any amounts reimbursable to it pursuant to Section 10.01(e); 


                                   (vii)       to pay to the Master Servicer any amounts deposited by the Master Servicer in the Distribution Account not required to be deposited therein; and


                                   (viii)      to clear and terminate the Distribution Account at the termination of this Agreement pursuant to Section 9.01.


                    Taxes imposed on REMIC I or REMIC II shall be allocated to the related REMIC.


                    (c)          The Companion Paying Agent may, from time to time, make withdrawals from the Companion Distribution Account as contemplated by Section 4.01(k).


                    (d)          The Trustee shall on each P&I Advance Date to occur in March of each year, and in the event the final Distribution Date occurs in February on the P&I Advance Date to occur in such February, withdraw from the Interest Reserve Account and deposit into the Distribution Account in respect of each Interest Reserve Loan, an amount equal to the aggregate of the Interest Reserve Amounts deposited into the Interest Reserve Account pursuant to Section 3.04(c) during the immediately preceding Collection Period and, if applicable, the second preceding Collection Period.


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                    (e)          The Paying Agent shall, on any Distribution Date, make withdrawals from the Additional Interest Account to the extent required to make the distributions of Additional Interest required by Section 4.01(b).


                    (f)          The Paying Agent shall, on any Distribution Date, make withdrawals from the Gain-On-Sale Reserve Account as contemplated by Section 4.01(k).


                    (g)          The Paying Agent shall make withdrawals from the Floating Rate Accounts in the following order of priority and only for the following purposes:


                                   (i)          to withdraw amounts deposited in the Floating Rate Accounts in error and pay such amounts to Persons entitled thereto;


                                   (ii)          out of interest amounts to make regularly scheduled payments required to be paid to the Swap Counterparty under the Swap Contract as specified in Section 3.30(c), provided there is no Swap Default;


                                   (iii)          to make distributions to the Holders of the Class A-5FL Certificates pursuant to Section 4.01(j); and


                                   (iv)          to clear and terminate the Floating Rate Accounts pursuant to Section 9.01.


                    (h)          In the event that servicing advances have been made with respect to one of the 2007-C30 Serviced Mortgage Loans, the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan or the GECMC 2007-C1 Serviced Mortgage Loan under the 2007-C30 Pooling and Servicing Agreement, the Morgan Stanley 2007-IQ14 Pooling and Servicing Agreement or the GECMC 2007-C1 Pooling and Servicing Agreement, as the case may be, by the 2007-C30 Master Servicer, the Morgan Stanley 2007-IQ14 Master Servicer or the GECMC 2007-C1 Master Servicer, as the case may be, and in accordance with the 2007-C30 Pooling and Servicing Agreement, the Morgan Stanley 2007-IQ14 Pooling and Servicing Agreement or the GECMC 2007-C1 Pooling and Servicing Agreement, as the case may be, if a subsequent determination has been made that such
advance constitutes a nonrecoverable advance, the party that made such advance shall be entitled to a reimbursement of such advance with interest thereon as set forth in the 2007-C30 Pooling and Servicing Agreement, the Morgan Stanley 2007-IQ14 Pooling and Servicing Agreement or the GECMC 2007-C1 Pooling and Servicing Agreement, as the case may be, from general collections on all Mortgage Loans in the Certificate Account (up to, with respect to a servicing advance, the applicable 2007-C30 Serviced Mortgage Loan’s, the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan’s and the GECMC 2007-C1 Serviced Mortgage Loan’s pro rata share of such advance, or if the amount of such pro rata share, together with amounts available from collections in the certificate account created under the 2007-C30 Pooling and Servicing Agreement, the Morgan Stanley 2007-IQ14 Pooling and Servicing Agreement or the GECMC 2007-C1 Pooling and Servicing Agreement, as the case may be, is insufficient to
reimburse the party that made such advance, then up to the full amount of such advance made on the Non-Serviced Mortgage Loans and interest thereon) subject, in each case, to the terms of the related Intercreditor Agreement.


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                    (i)          The Paying Agent shall withdraw the Interest Shortfall Amount from the Interest Shortfall Account on the first P&I Advance Date only and deposit such amount into the Distribution Account.


          Section 3.06    Investment of Funds in the Servicing Accounts, Reserve Accounts, Certificate Account, Floating Rate Accounts, Interest Reserve Account, Distribution Account, Companion Distribution Account, Additional Interest Account, Gain-on-Sale Reserve Account and REO Account.


                    (a)          The Master Servicer may direct in writing any depository institution maintaining a Servicing Account, a Reserve Account or the Certificate Account (each, for purposes of this Section 3.06, an “Investment Account”); the Companion Paying Agent may direct in writing any depository institution maintaining the Companion Distribution Account (also, for purposes of this Section 3.06, an “Investment Account”); the Special Servicer may direct in writing any depository institution maintaining the REO Account (also, for purposes of this Section 3.06, an “Investment Account”); and the Trustee may direct in writing any depository institution maintaining the Distribution Account, the Floating Rate Accounts, the Gain-on-Sale Reserve
Account, the Interest Reserve Account, the Interest Shortfall Account or the Additional Interest Account (also, for purposes of this Section 3.06, an “Investment Account”) to invest, or if it is such depository institution, may itself invest, the funds held therein only in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, no later than the Business Day immediately preceding the next succeeding date on which such funds are required to be withdrawn from such account pursuant to this Agreement.  Funds held in the Distribution Account, the Companion Distribution Account, the Additional Interest Account, the Floating Rate Accounts, the Interest Reserve Account, the Interest Shortfall Account and the Gain-on-Sale Reserve Account may remain uninvested.  In the event that the Master Servicer shall have failed to give investment directions for any Servicing Account, any Reserve Account or the Certificate Account
(exclusive of any accounts as are held by the Master Servicer) or the Special Servicer shall have failed to give investment directions for the REO Account by 11:00 a.m. New York time on any Business Day on which there may be uninvested cash, such funds held in the REO Account shall be invested in securities described in clause (i) of the definition of the term “Permitted Investments”; and such funds held in such other accounts shall be invested in securities described in clause (v) of such definition.  All such Permitted Investments shall be held to maturity, unless payable on demand.  Any investment of funds in an Investment Account shall be made in the name of the Trustee (in its capacity as such).  The Master Servicer on behalf of the Trustee for the benefit of Certificateholders (with respect to Permitted Investments of amounts in the Servicing Accounts, the Reserve Accounts or the Certificate Account), the Special Servicer on behalf of the Trustee for the
benefit of Certificateholders (with respect to Permitted Investments of amounts in the REO Account) and the Trustee (with respect to Permitted Investments of amounts in the Distribution Account, the Floating Rate Accounts, the Gain-on-Sale Reserve Account, the Interest Reserve Account, the Interest Shortfall Account or the Additional Interest Account) for the benefit of the Certificateholders, and the Companion Paying Agent with respect to the Companion Distribution Account, shall (and the Trustee hereby designates the Master Servicer and the Special Servicer, with respect to any Investment Account maintained by them, and itself, with respect to the Distribution Account, the Additional Interest Account, the Interest Reserve Account, the Floating Rate Accounts, the Interest Shortfall Account, and the Gain-on-Sale 


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Reserve Account, as applicable, as the Person that shall) maintain continuous possession of any Permitted Investment that is either (i) a “certificated security”, as such term is defined in the UCC, or (ii) other property in which a secured party may perfect its security interest by possession under the UCC or any other applicable law.  Possession of any such Permitted Investment by the Master Servicer, the Special Servicer or the Trustee shall constitute possession by the Trustee, as secured party, for purposes of Section 9-313 of the UCC and any other applicable law.  If amounts on deposit in an Investment Account are at any time invested in a Permitted Investment payable on demand, the Master Servicer (in the case of the Certificate Account, Servicing Accounts and Reserve Accounts), the Special Servicer (in the case of the REO Account), the Trustee (with respect to Permitted Investments of amounts in the Distribution Account,
the Gain-on-Sale Reserve Account, the Interest Reserve Account, the Floating Rate Accounts, the Interest Shortfall Account and the Additional Interest Account) or the Companion Paying Agent with respect to the Companion Distribution Account, shall:


                    (i)          consistent with any notice required to be given thereunder, demand that payment thereon be made on the last day such Permitted Investment may otherwise mature hereunder in an amount equal to the lesser of (1) all amounts then payable thereunder and (2) the amount required to be withdrawn on such date; and


                    (ii)         demand payment of all amounts due thereunder promptly upon determination by the Master Servicer, the Special Servicer or the Trustee, as the case may be, that such Permitted Investment would not constitute a Permitted Investment in respect of funds thereafter on deposit in the Investment Account.


                    (b)          Whether or not the Master Servicer directs the investment of funds in any of the Servicing Accounts, the Reserve Accounts or the Certificate Account, interest and investment income realized on funds deposited therein, to the extent of the related Net Investment Earnings, if any, for each Collection Period and, in the case of a Reserve Account or a Servicing Account, to the extent not otherwise payable to the related Mortgagor in accordance with applicable law or the related Mortgage Loan documents, shall be for the sole and exclusive benefit of the Master Servicer and shall be subject to its withdrawal in accordance with Section 3.03(a), 3.03(f) or 3.05(a), as applicable.  Whether or not the Special Servicer directs the investment of funds in the REO Account, interest and

investment income realized on funds deposited therein, to the extent of the Net Investment Earnings, if any, for each Collection Period, shall be for the sole and exclusive benefit of the Special Servicer and shall be subject to its withdrawal in accordance with Section 3.16(b).  Whether or not the Trustee directs the investment of funds in the Distribution Account, the Interest Reserve Account, the Floating Rate Accounts, the Additional Interest Account or the Gain-on-Sale Reserve Account, interest and investment income realized on funds deposited therein, to the extent of the Net Investment Earnings, if any, for each related Distribution Date, shall be for the sole and exclusive benefit of the Trustee and shall be subject to its (or the Paying Agent’s on its behalf) withdrawal in accordance with Section 3.05(b).  If any loss shall be incurred in respect of any Permitted Investment on deposit in any Investment Account, the Master Servicer (in the case of the Servicing
Accounts, the Reserve Accounts and the Certificate Account, excluding any accounts containing amounts invested solely for the benefit of, and at the direction of, the Mortgagor under the terms of the Mortgage Loan or applicable law), the Companion Paying Agent (in the case of the Companion Distribution Account), the Special Servicer (in the case of the REO 


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Account) and the Trustee (with respect to Permitted Investments of amounts in the Distribution Account, the Additional Interest Account, the Floating Rate Accounts, the Interest Reserve Account and the Gain-on-Sale Reserve Account) shall promptly deposit therein from its own funds, without right of reimbursement, no later than, in the case of the Master Servicer and Special Servicer, the end of the Collection Period during which such loss was incurred and in the case of the Trustee, no later than 12:00 noon, New York City time, on the Distribution Date, the amount of the Net Investment Loss, if any, for such Collection Period or on such Distribution Date; provided that none of the Master Servicer, the Special Servicer or the Trustee shall be required to deposit any loss on an investment of funds in an Investment Account if such loss is incurred solely as a result of the insolvency of the federal or state chartered depository institution or trust company
that holds such Investment Account, so long as such depository institution or trust company satisfied the qualifications set forth in the definition of Eligible Account at the time such investment was made.


                    (c)          Except as otherwise expressly provided in this Agreement, if any default occurs in the making of a payment due under any Permitted Investment, or if a default occurs in any other performance required under any Permitted Investment and the Trustee, the Special Servicer or the Master Servicer fails to deposit any losses with respect to such Permitted Investment pursuant to Section 3.06(b), the Trustee may (or, in the event of a default by the Trustee, the Master Servicer or Special Servicer shall) and, subject to Section 8.02, upon the request of Holders of Certificates entitled to not less than 25% of the Voting Rights allocated to any Class, shall take such action as may be appropriate to enforce such payment or performance, including the institution and prosecution of
appropriate proceedings.


                    (d)          Notwithstanding the investment of funds held in any Investment Account, for purposes of the calculations hereunder, including, without limitation, the calculation of the Available Distribution Amount, the amounts so invested shall be deemed to remain on deposit in such Investment Account.


          Section 3.07    Maintenance of Insurance Policies; Errors and Omissions and Fidelity Coverage.


                    (a)          The Master Servicer (with respect to Mortgage Loans and Companion Loans to the extent that the Trust Fund has an insurable interest, but other than with respect to the 2007-C30 Serviced Mortgage Loans, the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan, the GECMC 2007-C1 Serviced Mortgage Loan and their related Companion Loans, as applicable) and the Special Servicer (with respect to REO Properties to the extent that the Trust Fund has an insurable interest, but other than with respect any REO Property related to the 2007-C30 Serviced Mortgage Loans, the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan or the GECMC 2007-C1 Serviced Mortgage Loan, as applicable) shall, consistent with the Servicing Standard, cause to be maintained for each Mortgaged Property all insurance coverage as
is required under the related Mortgage; provided that if and to the extent that any such Mortgage permits the holder thereof any discretion (by way of consent, approval or otherwise) as to the insurance coverage that the related Mortgagor is required to maintain, the Master Servicer shall exercise such discretion in a manner consistent with the Servicing Standard; provided, further, if and to the extent that a Mortgage so permits, the related Mortgagor shall be required to exercise its reasonable best efforts to obtain the required insurance coverage from Qualified Insurers and 


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required insurance coverage obtained by the Master Servicer shall be from Qualified Insurers.  For the avoidance of doubt, REO Property with respect to the Non-Serviced Mortgage Loans is excluded for all purposes from this Section 3.07.  The cost of any such insurance coverage obtained by either the Master Servicer or the Special Servicer shall be a Servicing Advance to be paid by the Master Servicer pursuant to Section 3.03.  Whether or not the applicable Mortgage Loan documents require such insurance, the Majority Subordinate Certificateholder may request that earthquake insurance be secured for one or more Mortgaged Properties at the expense of the Majority Subordinate Certificateholder.  Subject to Section 3.17(a), the Special Servicer shall also cause to be maintained for each REO Property no less insurance coverage than was previously required of the Mortgagor under the related Mortgage; provided that all such
insurance shall be obtained from Qualified Insurers.  All such insurance policies maintained by the Master Servicer or the Special Servicer (i) shall contain (if they insure against loss to property and do not relate to an REO Property) a “standard” mortgagee clause, with loss payable to the Trustee or the Master Servicer on behalf of the Trustee (in the case of insurance maintained in respect of Mortgage Loans); (ii) shall be in the name of the Special Servicer (in the case of insurance maintained in respect of REO Properties), on behalf of the Trustee; (iii) shall be non-cancelable without 30 days’ prior written notice to the insured party; (iv) shall include coverage in an amount not less than the lesser of (x) the full replacement cost of the improvements securing a Mortgaged Property or REO Property, as applicable, or (y) the outstanding principal balance owing on the related Mortgage Loan or REO Loan, as applicable, and in any event, the amount
necessary to avoid the operation of any co-insurance provisions; (v) shall include a replacement cost endorsement providing no deduction for depreciation (unless such endorsement is not permitted under the related Mortgage Loan documents); (vi) shall include such other insurance, including, to the extent available at commercially reasonable rates, earthquake insurance, where applicable, as required under the applicable Mortgage or other Mortgage Loan document; and (vii) in each case such insurance shall be issued by an insurer authorized under applicable law to issue such insurance.  Any amounts collected by the Master Servicer or the Special Servicer under any such policies (other than amounts to be applied to the restoration or repair of the related Mortgaged Property or REO Property or amounts to be released to the related Mortgagor, in each case subject to the rights of any tenants and ground lessors, as the case may be, and in each case in accordance with the terms of the
related Mortgage and the Servicing Standard) shall be deposited in the Certificate Account, subject to withdrawal pursuant to Section 3.05(a), in the case of amounts received in respect of a Mortgage Loan or Companion Loan, or in the REO Account, subject to withdrawal pursuant to Section 3.16(c), in the case of amounts received in respect of an REO Property.  Any cost incurred by the Master Servicer or the Special Servicer in maintaining any such insurance shall not, for purposes hereof, including, without limitation, calculating monthly distributions to Certificateholders, be added to unpaid principal balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan or Companion Loans so permit.


                    Notwithstanding the foregoing, the Master Servicer or Special Servicer, as applicable, will not be required to maintain (and in the case of the Special Servicer, with respect to any Specially Serviced Mortgage Loan), and shall not cause a Mortgagor to be in default with respect to the failure of the related Mortgagor to obtain, all-risk casualty insurance which does not contain any carve-out for terrorist or similar acts, if and only if the Special Servicer, in consultation with the Controlling Class Representative, and, with respect to each Co-Lender Loan (other than the Non-Serviced Mortgage Loans), in consultation with the related Companion 


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Holder if required under the applicable Intercreditor Agreement, has determined in accordance with the Servicing Standard that either (a) such insurance is not available at any rate or (b) such insurance is not available at commercially reasonably rates and that such hazards are not at the time commonly insured against for properties similar to the Mortgaged Property and located in or around the region in which such Mortgaged Property is located; provided, however, the Controlling Class Representative shall not have more than three Business Days to respond to the Special Servicer’s request for consultation; provided, further, that upon the Special Servicer’s determination, as applicable, consistent with the Servicing Standard, that exigent circumstances do not allow the Special Servicer to consult with the Controlling Class Representative or Companion Holder, if applicable, the Special Servicer shall not be required to do so;
provided, further, that, during the period that the Special Servicer is evaluating such insurance hereunder, the Master Servicer shall not be liable for any loss related to its failure to require the Mortgagor to maintain terrorism insurance and shall not be in default of its obligations hereunder as a result of such failure.  The Special Servicer shall promptly notify the Master Servicer of each determination under this paragraph.


                    (b)          If the Master Servicer or the Special Servicer shall obtain and maintain, or cause to be obtained and maintained, a blanket policy insuring against hazard losses on all of the Mortgage Loans, Companion Loans and/or REO Properties that it is required to service and administer, then, to the extent such policy (i) is obtained from a Qualified Insurer and (ii) provides protection equivalent to the individual policies otherwise required, the Master Servicer or the Special Servicer, as the case may be, shall conclusively be deemed to have satisfied its obligation to cause hazard insurance to be maintained on the related Mortgaged Properties and/or REO Properties.  Such blanket policy may contain a deductible clause (not in excess of a customary amount), in which case
the Master Servicer or the Special Servicer, as appropriate, shall, if there shall not have been maintained on the related Mortgaged Property or REO Property a hazard insurance policy complying with the requirements of Section 3.07(a), and there shall have been one or more losses that would have been covered by such policy, promptly deposit into the Certificate Account from its own funds the amount not otherwise payable under the blanket policy because of such deductible clause.  The Master Servicer or the Special Servicer, as appropriate, shall prepare and present, on behalf of itself, the Trustee and Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policy.


                    (c)          Each of the Master Servicer and the Special Servicer shall at all times during the term of this Agreement (or, in the case of the Special Servicer, at all times during the term of this Agreement in which Specially Serviced Mortgage Loans or REO Properties are part of the Trust Fund) keep in force a fidelity bond with Qualified Insurers, such fidelity bond to be in such form and amount as would permit it to be a qualified FNMA or FHLMC, whichever is greater, seller-servicer of multifamily mortgage loans, or in such other form and amount as would not cause the qualification, downgrading or withdrawal of any rating assigned by any Rating Agency to the Certificates (as evidenced in writing from each Rating Agency).  Each of the Master Servicer and the Special Servicer shall be deemed

to have complied with the foregoing provision if an Affiliate thereof has such fidelity bond coverage and, by the terms of such fidelity bond, the coverage afforded thereunder extends to the Master Servicer or the Special Servicer, as the case may be.  Such fidelity bond shall provide for ten days’ written notice to the Trustee prior to any cancellation.


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                    Each of the Master Servicer and the Special Servicer shall at all times during the term of this Agreement (or, in the case of the Special Servicer, at all times during the term of this Agreement in which Specially Serviced Mortgage Loans and/or REO Properties exist as part of the Trust Fund) also keep in force with Qualified Insurers, a policy or policies of insurance covering loss occasioned by the errors and omissions of its officers, employees and agents in connection with its servicing obligations hereunder, which policy or policies shall be in such form and amount as would permit it to be a qualified FNMA seller-servicer of multifamily mortgage loans, or in such other form and amount as would not cause the qualification, downgrade or withdrawal of any rating assigned by any Rating Agency to the Certificates (as evidenced in writing from each

Rating Agency).  Each of the Master Servicer and the Special Servicer shall be deemed to have complied with the foregoing provisions if an Affiliate thereof has such insurance and, by the terms of such policy or policies, the coverage afforded thereunder extends to the Master Servicer or the Special Servicer, as the case may be.  Any such errors and omissions policy shall provide for ten days’ written notice to the Trustee prior to cancellation.  The Master Servicer and the Special Servicer shall each cause the Trustee to be an additional loss payee on any policy currently in place or procured pursuant to the requirements of this Section 3.07(c).


                    For so long as the long-term debt obligations of the Master Servicer or Special Servicer, as the case may be (or in the case of the initial Master Servicer and Special Servicer, their respective direct or indirect parent), are rated at least “A” or the equivalent by all of the Rating Agencies (or such lower rating as will not result in qualification, downgrading or withdrawal of the ratings then assigned to the Certificates, as evidenced in writing by the Rating Agencies), such Person may self-insure with respect to the risks described in this subsection.


          Section 3.08    Enforcement of Alienation Clauses.


                    (a)          Upon receipt of any request of a waiver in respect of a due-on-sale or due-on-encumbrance provision with respect to a Mortgage Loan, the Master Servicer shall promptly forward such request to the Special Servicer, who, if otherwise permitted pursuant to this Agreement, will analyze such waiver, including the preparation of written materials in connection with such analysis, and will close the related transaction, subject to the consent rights (if any) of each Companion Holder pursuant to the related Intercreditor Agreement as provided in this Section.  With respect to all Mortgage Loans and Companion Loans (other than the Non-Serviced Mortgage Loans and their related Companion Loans), the Special Servicer, on behalf of the Trustee as the mortgagee of record, shall, to the extent
permitted by applicable law, enforce the restrictions contained in the related Mortgage on transfers or further encumbrances of the related Mortgaged Property and on transfers of interests in the related Mortgagor, unless the Special Servicer (after providing the Controlling Class Representative 12 Business Days notice of such proposed action pursuant to Section 6.11(a) or Section 6.11(c), as the case may be, which notice shall be given by the Special Servicer no later than three Business Days after receipt of such request) has determined, consistent with the Servicing Standard, that waiver of such restrictions would be in accordance with the Servicing Standard.  Promptly after the Special Servicer (after providing the Controlling Class Representative 12 Business Days notice of such proposed action pursuant to Section 6.11(a) or Section 6.11(c), as the case may be, which notice shall be given by the Special Servicer no later than three Business Days after receipt of such request) has made any
such determination, the Special Servicer shall deliver to the Trustee, the 


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Rating Agencies and each other party hereto an Officer’s Certificate setting forth the basis for such determination.  The Special Servicer shall not exercise any such waiver in respect of a due-on-encumbrance provision of any Mortgage Loan that is cross-collateralized or cross-defaulted with one of the ten largest Mortgage Loans or that is one of the ten largest Mortgage Loans as of the date of the waiver (by Stated Principal Balance), without written confirmation from Fitch that such action would not result in a downgrading, qualification or withdrawal of the rating then assigned to the Certificates.  The Special Servicer shall not exercise any such waiver in respect of a due-on-encumbrance provision of any Mortgage Loan (i) with respect to which (a) the aggregate of the Stated Principal Balance of such Mortgage Loan and the Stated Principal Balance of all other Mortgage Loans that are cross-collateralized, cross-defaulted or have been made to
Mortgagors affiliated with the Mortgagor on such Mortgage Loan, is equal to or in excess of $20,000,000, (b) the aggregate of the Stated Principal Balance of such Mortgage Loan and the Stated Principal Balance of all other Mortgage Loans that are cross-collateralized, cross-defaulted or have been made to Mortgagors affiliated with the Mortgagor on such Mortgage Loan, are greater than 2% of the aggregate Stated Principal Balance of all Mortgage Loans or (c) such Mortgage Loan is one of the ten largest Mortgage Loans as of the date of the waiver (by Stated Principal Balance), without receiving prior written confirmation from Moody’s that such action would not result in a downgrading, qualification or withdrawal of the ratings then assigned to the Certificates and (ii) with respect to which (a) the criteria set forth in clause (i)(a), (i)(b) and (i)(c) have been met or (b) such Mortgage Loan has a Loan-to-Value Ratio (calculated to include the additional indebtedness secured by any encumbrance) that

is equal to or greater than 85% and a Debt Service Coverage Ratio (calculated to include the additional debt from any encumbrance) of 1.20x or less, without receiving a prior written confirmation from S&P that such action would not result in a downgrading, qualification or withdrawal of the ratings then assigned to the Certificates.  With respect to a waiver of a due-on-sale provision, the Special Servicer shall not waive any such restriction with respect to which (a) the aggregate of the Stated Principal Balance of such Mortgage Loan and the Stated Principal Balance of all other Mortgage Loans that are cross-collateralized, cross-defaulted or have been made to Mortgagors affiliated with the Mortgagor on such Mortgage Loan, is equal to or in excess of $35,000,000 (or $25,000,000 with respect to Moody’s), (b) the aggregate of the Stated Principal Balance of such Mortgage Loan and the Stated Principal Balance of all other Mortgage Loans that are cross-collateralized, cross-defaulted or
have been made to Mortgagors affiliated with the Mortgagor on such Mortgage Loan, are greater than 5% of the aggregate Stated Principal Balance of all Mortgage Loans or (c) such Mortgage Loan is one of the ten largest Mortgage Loans as of the date of the waiver (by Stated Principal Balance), without receiving prior written confirmation from Moody’s and S&P  that such action would not result in a downgrading, qualification or withdrawal of the ratings then assigned to the Certificates; provided, further, that, if the Mortgage Loan does not meet the criteria set forth in clauses (a), (b) and (c) of this sentence, the Special Servicer may waive such requirement without approval by Moody’s or S&P in accordance with the Servicing Standard.  With respect to each Co-Lender Loan, no waiver of a due-on-sale or due-on-encumbrance provision will be effective unless the Special Servicer first consults with the related Subordinate Companion Holder if required under the applicable
Intercreditor Agreement.



                    (b)          Notwithstanding
anything herein to the contrary, the Master Servicer shall approve and close,
without the consent of the Special Servicer or the Controlling Class
Representative, all initial syndications of tenant-in-common interests,
including without 


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limitation the Tenants-in-Common Loans, provided such
syndications are specifically permitted by and in accordance with the related
Mortgage Loan documents for any Mortgage Loan (other than a Non-Serviced
Mortgage Loan), that is not a Specially Serviced Mortgage Loan.  Upon
completion of any such initial transfer, the Master Servicer shall promptly
provide notice by electronic mail thereof to the Special Servicer, which notice
shall also (i) advise the Special Servicer as to the total number of transfers
with respect to such Mortgage Loan that the Master Servicer has approved and
closed as of such date and the expiration date (if any) by which such
transfer(s) must occur pursuant to the related Mortgage Loan documents, and (ii)
advise the Special Servicer of when, with respect to any such Mortgage Loan,
such tenant-in-common syndication is complete.  All transfers of a
tenant-in-common interest subsequent to the initial syndication shall be
processed and approved solely by the Special Servicer.  Any request for a
modification to or extension of the final initial syndication date respecting
any such tenant-in-common transfers or increase in the permitted number of
tenant-in-common interests under the initial syndication shall be processed and
approved solely by the Special Servicer.


                    (c)          Within 90 days of the Closing Date, with respect to each of the Mortgage Loans (other than the Non-Serviced Mortgage Loans) covered by an environmental insurance policy, if any, the Master Servicer shall notify the insurer under such environmental insurance policy and take all other action necessary for the Trustee, on behalf of the Certificateholders, to be an insured (and for the Master Servicer, on behalf of the Trust Fund, to make claims) under such environmental insurance policy.  In the event that the Master Servicer has actual knowledge of any event (an “Insured Environmental Event”) giving rise to a claim under any environmental insurance policy in respect of any Mortgage Loan covered thereby, the Master Servicer shall, in accordance with the terms of
such environmental insurance policy and the Servicing Standard, timely make a claim thereunder with the appropriate insurer and shall take such other actions in accordance with the Servicing Standard which are necessary under such environmental insurance policy in order to realize the full value thereof for the benefit of the Certificateholders.  Any legal fees, premiums or other out-of-pocket costs incurred in accordance with the Servicing Standard in connection with any such claim under an environmental insurance policy shall be paid by the Master Servicer and shall be reimbursable to it as a Servicing Advance.  With respect to each environmental insurance policy that relates to one or more Mortgage Loans (other than the Non-Serviced Mortgage Loans), the Master Servicer shall review and familiarize itself with the terms and conditions relating to enforcement of claims and shall monitor the dates by which any claim must be made or any action must be taken under such policy to realize the
full value thereof for the benefit of the Certificateholders in the event the Master Servicer has actual knowledge of an Insured Environmental Event giving rise to a claim under such policy.


                    In
the event that the Master Servicer receives notice of any termination of any
environmental insurance policy that relates to one or more Mortgage Loans (other
than the Non-Serviced Mortgage Loans), the Master Servicer shall, within five
Business Days after receipt of such notice, notify the Special Servicer, the
Controlling Class Representative, the related Companion Holder (in the case of a
Co-Lender Loan), the Rating Agencies and the Trustee of such termination in
writing.  Upon receipt of such notice, the Master Servicer with respect to
non-Specially Serviced Mortgage Loans (other than the Non-Serviced Mortgage
Loans), and the Special Servicer with respect to Specially Serviced Mortgage
Loans, shall address such termination in accordance with Section 3.07(a) in
the same manner as it would the termination of any other Insurance Policy
required under the related Mortgage Loan documents. Any legal


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fees,
premiums or other out-of-pocket costs incurred in accordance with the Servicing
Standard in connection with a resolution of such termination of an environmental
insurance policy shall be paid by the Master Servicer and shall be reimbursable
to it as a Servicing Advance.



                    (d)          For the avoidance of doubt, any servicing obligation set forth under this Section 3.08 of the Master Servicer or Special Servicer, as applicable, for any Co-Lender Loan shall also apply to the related Companion Loan.


          Section 3.09    Realization Upon Defaulted Mortgage Loans; Required Appraisals.


                    (a)          The Special Servicer shall, subject to Sections 3.09(b) through 3.09(d) and Section 6.11, exercise reasonable efforts, consistent with the Servicing Standard, to foreclose upon or otherwise comparably convert the ownership of properties securing such of the Mortgage Loans or Companion Loans (other than the Non-Serviced Mortgage Loans and their related Companion Loans) as come into and continue in default and as to which no satisfactory arrangements can be made for collection of delinquent payments, including, without limitation, pursuant to Section 3.20.  Subject to the second paragraph of Section 3.03(c), the Master Servicer shall advance all costs and expenses (other than costs or expenses that would, if incurred, constitute a Nonrecoverable Servicing Advance)
incurred by the Special Servicer in any such proceedings, and shall be entitled to reimbursement therefor as provided in Section 3.05(a).  Nothing contained in this Section 3.09 shall be construed so as to require the Special Servicer, on behalf of the Trust Fund, to make a bid on any Mortgaged Property at a foreclosure sale or similar proceeding that is in excess of the fair market value of such property, as determined by the Special Servicer in accordance with the Servicing Standard and in its reasonable and good faith judgment taking into account, as applicable, among other factors, the period and amount of any delinquency on the affected Mortgage Loan or Companion Loan, the occupancy level and physical condition of the Mortgaged Property or REO Property, the state of the local economy, the obligation to dispose of any REO Property within the time period specified in Section 3.16(a) and the results of any appraisal obtained pursuant to the following sentence, all such bids to be

made in a manner consistent with the Servicing Standard.  If and when the Master Servicer or the Special Servicer deems it necessary and prudent for purposes of establishing the fair market value of any Mortgaged Property securing a Defaulted Mortgage Loan or defaulted Companion Loan, whether for purposes of bidding at foreclosure or otherwise, it may, at the expense of the Trust Fund, have an appraisal performed with respect to such property by an Independent Appraiser or other expert in real estate matters; which appraisal shall take into account, as applicable, among other factors, the period and amount of any delinquency on the affected Mortgage Loan, the occupancy level and physical condition of the Mortgaged Property or REO Property, the state of the local economy and the obligation to dispose of any REO Property within the time period specified in Section 3.16(a), including without limitation, any environmental, engineering or other third party reports available, and other factors
that a prudent real estate appraiser would consider.


                    With respect to each Required Appraisal Mortgage Loan (other than the Non-Serviced Mortgage Loans), the Special Servicer will be required to obtain a Required Appraisal (or with respect to any Mortgage Loan with an outstanding principal balance less than $2,000,000, an internal valuation performed by the Special Servicer) within 60 days of a Mortgage Loan becoming a Required Appraisal Mortgage Loan (unless an appraisal meeting the 


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requirements of a Required Appraisal was obtained for such Required Appraisal Mortgage Loan within the prior 12 months and the Special Servicer has no actual knowledge of a material adverse change in the condition of the related Mortgaged Property in which case such appraisal may be a letter update of the Required Appraisal) and thereafter shall obtain a Required Appraisal (or with respect to any Mortgage Loan with an outstanding principal balance less than $2,000,000, and in lieu of an Appraisal, an internal valuation performed by the Special Servicer) once every 12 months (or sooner if the Special Servicer has actual knowledge of a material adverse change in the condition of the related Mortgaged Property) if such Mortgage Loan remains a Required Appraisal Mortgage Loan.  The Special Servicer will deliver a copy of each Required Appraisal (or letter update or internal valuation) to the Master Servicer, the Controlling Class Representative and the Trustee
(and, if such Required Appraisal Mortgage Loan is a Co-Lender Loan, to the related Companion Holder) within 10 Business Days of obtaining such Required Appraisal (or letter update or internal valuation).  Subject to the second paragraph of Section 3.03(c), the Master Servicer shall advance the cost of such Required Appraisal; provided, however, that such expense will be subject to reimbursement to the Master Servicer as a Servicing Advance out of the Certificate Account pursuant to Section 3.05(a)(vi) and 3.05(a)(vii).


                    Notwithstanding the foregoing, in no event shall the Master Servicer or the Special Servicer obtain an appraisal of a Companion Loan pursuant to this Section 3.09(a) to the extent the related Co-Lender Loan has been paid in full.


                    (b)          The Special Servicer shall not acquire any personal property pursuant to this Section 3.09 unless either:


                                   (i)          such personal property is incident to real property (within the meaning of Section 856(e)(1) of the Code) so acquired by the Special Servicer; or


                                    (ii)         the Special Servicer shall have obtained an Opinion of Counsel (the cost of which may be withdrawn from the Certificate Account pursuant to Section 3.05(a)) to the effect that the holding of such personal property as part of the Trust Fund (to the extent not allocable to a Companion Loan) will not cause the imposition of a tax on either of REMIC I or REMIC II under the REMIC Provisions or cause either of REMIC I or REMIC II to fail to qualify as a REMIC at any time that any Certificate is outstanding.


                    (c)          Notwithstanding the foregoing provisions of this Section 3.09, neither the Master Servicer nor the Special Servicer shall, on behalf of the Trustee (which may include through a single member limited liability company owned by the Trust), initiate foreclosure proceedings, obtain title to a Mortgaged Property by deed in lieu of foreclosure or otherwise, or take any other action with respect to any Mortgaged Property, if, as a result of any such action, the Trustee, on behalf of the Certificateholders, could, in the reasonable judgment of the Master Servicer or the Special Servicer, as the case may be, made in accordance with the Servicing Standard, be considered to hold title to, to be a “mortgagee-in-possession” of, or to be an “owner” or “operator”
of such Mortgaged Property within the meaning of CERCLA or any comparable law (a “potentially responsible party”), unless (as evidenced by an Officer’s Certificate to such effect delivered to the Trustee that shall specify all of the bases for such determination) the Special Servicer has previously determined in accordance with the Servicing 


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Standard, and based on an Environmental Assessment of such Mortgaged Property performed by an Independent Person who regularly conducts Environmental Assessments and performed within six months prior to any such acquisition of title or other action (a copy of which Environmental Assessment shall be delivered to the Trustee, the Controlling Class Representative and the Master Servicer), that:


                                  (i)          the Mortgaged Property is in compliance with applicable environmental laws and regulations or, if not, that it would maximize the recovery to the Certificateholders on a present value basis (the relevant discounting of anticipated collections that will be distributable to Certificateholders to be performed at the related Net Mortgage Rate) to acquire title to or possession of the Mortgaged Property and to take such actions as are necessary to bring the Mortgaged Property into compliance therewith in all material respects; and


                                  (ii)         there are no circumstances or conditions present at the Mortgaged Property relating to the use, management or disposal of Hazardous Materials for which investigation, testing, monitoring, containment, clean-up or remediation could be required under any applicable environmental laws and regulations or, if such circumstances or conditions are present for which any such action could reasonably be expected to be required, that it would maximize the recovery to the Certificateholders on a present value basis (the relevant discounting of anticipated collections that will be distributable to Certificateholders to be performed at the related Net Mortgage Rate) to acquire title to or possession of the Mortgaged
Property and to take such actions with respect to the affected Mortgaged Property.


                    The Special Servicer shall undertake, in good faith, reasonable efforts to make the determination referred to in the preceding paragraph and may conclusively rely on the Environmental Assessment referred to above in making such determination.  The cost of any such Environmental Assessment, as well as the cost of any remedial, corrective or other further action contemplated by clause (i) and/or clause (ii) of the preceding paragraph shall be at the expense of the Trust Fund (except to the extent that such Additional Trust Fund Expense is payable out of the proceeds of any Companion Loan pursuant to the related Intercreditor Agreement and this Agreement); and if any such Environmental Assessment so warrants, the Special Servicer shall perform such additional environmental testing as it deems necessary and prudent to determine

whether the conditions described in clauses (i) and (ii) of the preceding paragraph have been satisfied, the cost of which shall be at the expense of the Trust Fund.


                    (d)          If the environmental testing contemplated by Section 3.09(c) above establishes that any of the conditions set forth in clauses (i) and (ii) thereof has not been satisfied with respect to any Mortgaged Property securing a Defaulted Mortgage Loan (other than the Non-Serviced Mortgage Loans) and there is no breach of a representation or warranty requiring repurchase under the applicable Mortgage Loan Purchase Agreement, the Special Servicer shall take such action as is in accordance with the Servicing Standard (other than proceeding against the Mortgaged Property) and, at such time as it deems appropriate, may, on behalf of the Trustee, release all or a portion of such Mortgaged Property from the lien of the related Mortgage; provided that if such Mortgage Loan

has a then outstanding principal balance of greater than $1,000,000, then prior to the release of all or a portion of the related Mortgaged Property from the lien of the related Mortgage, (i) the Special Servicer shall have notified the Rating Agencies, 


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the Trustee, the Controlling Class Representative and the Master Servicer in writing of its intention to so release all or a portion of such Mortgaged Property and the bases for such intention, (ii) the Trustee shall have notified the Certificateholders in writing of the Special Servicer’s intention to so release all or a portion of such Mortgaged Property and (iii) the Holders of Certificates entitled to a majority of the Voting Rights shall have consented to such release within 30 days of the Trustee’s distributing such notice (failure to respond by the end of such 30-day period being deemed consent).


                    (e)          The Special Servicer shall report to the Master Servicer, the Controlling Class Representative and the Trustee monthly in writing as to any actions taken by the Special Servicer with respect to any Mortgaged Property that represents security for a Defaulted Mortgage Loan as to which the environmental testing contemplated in Section 3.09(c) above has revealed that any of the conditions set forth in clauses (i) and (ii) thereof has not been satisfied, in each case until the earlier to occur of satisfaction of all such conditions and release of the lien of the related Mortgage on such Mortgaged Property.


                    (f)          The Special Servicer shall have the right to determine, in accordance with the Servicing Standard, the advisability of seeking to obtain a deficiency judgment if the state in which the Mortgaged Property is located and the terms of the Mortgage Loan or Companion Loan permit such an action and shall, in accordance with the Servicing Standard, seek such deficiency judgment if it deems advisable.


                    (g)          The Master Servicer shall, with the reasonable cooperation of the Special Servicer, prepare and file information returns with respect to reports of foreclosures and abandonments of any Mortgaged Property and the information returns relating to any Mortgaged Property securing a Mortgage Loan (other than the Non-Serviced Mortgage Loans) and, if applicable, Companion Loan required by Sections 6050J and 6050P of the Code and each year deliver to the Trustee an Officer’s Certificate stating that such reports have been filed.  Such reports shall be in form and substance sufficient to meet the reporting requirements imposed by Sections 6050J and 6050P of the Code.


                    (h)          The Special Servicer shall maintain accurate records, prepared by a Servicing Officer, of each Final Recovery Determination in respect of any Mortgage Loan, Companion Loan or REO Property (other than with respect to the Non-Serviced Mortgage Loans) and the basis thereof.  Each Final Recovery Determination shall be evidenced by an Officer’s Certificate (together with the basis and back-up documentation for the determination) delivered to the Trustee, the Controlling Class Representative and the Master Servicer no later than the third Business Day following such Final Recovery Determination.


                    (i)          Upon reasonable request of the Master Servicer, the Special Servicer shall deliver to it and the related Sub-Servicer any other information and copies of any other documents in its possession with respect to a Specially Serviced Mortgage Loan or the related Mortgaged Property.


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          Section 3.10    Trustee and Custodian to Cooperate; Release of Mortgage Files.


                    (a)          Upon the payment in full of any Mortgage Loan (other than the Non-Serviced Mortgage Loans), or the receipt by the Master Servicer of a notification that payment in full shall be escrowed in a manner customary for such purposes, the Master Servicer shall promptly notify the Trustee in writing, who shall release or cause the related Custodian to release, by a certification (which certification shall be in the form of a Request for Release in the form of Exhibit D-1 attached hereto and shall be accompanied by the form of a release or discharge and shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Certificate Account pursuant to Section 3.04(a) have been or will be so
deposited) of a Servicing Officer (a copy of which certification shall be delivered to the Special Servicer) and shall request delivery to it of the related Mortgage File.  Upon receipt of such certification and request, the Trustee shall release, or cause any related Custodian to release, the related Mortgage File to the Master Servicer and shall deliver to the Master Servicer such release or discharge, duly executed.  No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Certificate Account or the Distribution Account.


                    (b)          If from time to time, and as appropriate for servicing or foreclosure of any Mortgage Loan (other than the Non-Serviced Mortgage Loans), but including any related Companion Loan (other than the Non-Serviced Companion Loans), the Master Servicer or the Special Servicer shall otherwise require any Mortgage File (or any portion thereof), the Trustee, upon request of the Master Servicer and receipt from the Master Servicer of a Request for Release in the form of Exhibit D-1 attached hereto signed by a Servicing Officer thereof, or upon request of the Special Servicer and receipt from the Special Servicer of a Request for Release in the form of Exhibit D-2 attached hereto, shall release, or cause any related Custodian to release, such Mortgage File (or portion thereof) to
the Master Servicer or the Special Servicer, as the case may be.  Upon return of such Mortgage File (or portion thereof) to the Trustee  or related Custodian, or the delivery to the Trustee of a certificate of a Servicing Officer of the Special Servicer stating that such Mortgage Loan was liquidated and that all amounts received or to be received in connection with such liquidation that are required to be deposited into the Certificate Account pursuant to Section 3.04(a) have been or will be so deposited, or that such Mortgage Loan has become an REO Property, a copy of the Request for Release shall be released by the Trustee or related Custodian to the Master Servicer or the Special Servicer, as applicable.


                    (c)          Within seven Business Days (or within such shorter period (but no less than 3 Business Days) as execution and delivery can reasonably be accomplished if the Special Servicer notifies the Trustee of an exigency) of the Special Servicer’s request therefor, the Trustee shall execute and deliver to the Special Servicer (or the Special Servicer may, subject to Section 3.01(b), execute and deliver in the name of the Trustee based on a limited power of attorney issued in favor of the Special Servicer pursuant to Section 3.01(b)), in the form supplied to the Trustee, any court pleadings, requests for trustee’s sale or other documents stated by the Special Servicer to be reasonably necessary to the foreclosure or trustee’s sale in respect of a Mortgaged Property or REO

Property or to any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note (including any note evidencing a related Companion Loan) or Mortgage or to obtain a deficiency judgment, or to enforce any other remedies or rights provided by the Mortgage Note or Mortgage or otherwise available at law or in equity or to 


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defend any legal action or counterclaim filed against the Trust Fund, the Master Servicer or the Special Servicer.  Together with such documents or pleadings, the Special Servicer shall deliver to the Trustee a certificate of a Servicing Officer requesting that such pleadings or documents be executed by the Trustee and certifying as to the reason such documents or pleadings are required and that the execution and delivery thereof by the Trustee will not invalidate or otherwise affect the lien of the Mortgage, except for the termination of such a lien upon completion of the foreclosure or trustee’s sale.


          Section 3.11    Servicing Compensation.


                    (a)          As compensation for its activities hereunder, the Master Servicer shall be entitled to receive the Master Servicing Fee with respect to each Mortgage Loan (including each Specially Serviced Mortgage Loan) and REO Loan.  No Master Servicing Fee shall be payable with respect to any Companion Loan unless such fee is expressly set forth in the related Intercreditor Agreement.  As to each such Mortgage Loan and REO Loan, the Master Servicing Fee shall accrue at the related Master Servicing Fee Rate and on the same principal amount respecting which the related interest payment due on such Mortgage Loan or deemed to be due on such REO Loan is computed and calculated on the basis of a 360-day year consisting of twelve 30-day months (or, in the event of a Principal Prepayment in full

or other Liquidation Event with respect to a Mortgage Loan or REO Loan, on the basis of the actual number of days to elapse from and including the related Due Date to but excluding the date of such Principal Prepayment or Liquidation Event in a month consisting of 30 days).  The Master Servicing Fee with respect to the Non-Serviced Mortgage Loans will be set forth on the Mortgage Loan Schedule.  The Master Servicing Fee with respect to any Mortgage Loan or REO Loan shall cease to accrue if a Liquidation Event occurs in respect thereof.  Earned but unpaid Master Servicing Fees shall be payable monthly, on a loan-by-loan basis, from payments of interest on each Mortgage Loan and REO Revenues allocable as interest on each REO Loan.  The Master Servicer shall be entitled to recover unpaid Master Servicing Fees in respect of any Mortgage Loan or REO Loan out of that portion of related Insurance Proceeds or Liquidation Proceeds allocable as recoveries of interest, to the extent permitted

by Section 3.05(a)(iii) and otherwise as provided in Section 3.05(a)(vii).  The right to receive the Master Servicing Fee may not be transferred in whole or in part except in connection with the transfer of all of the Master Servicer’s responsibilities and obligations under this Agreement.


                    (b)          Additional servicing compensation in the form of:  (i) all late payment charges, Penalty Interest, modification fees for modifications to Mortgage Loans or Companion Loans that are not Specially Serviced Mortgage Loans made by the Master Servicer pursuant to Section 3.20(i), defeasance fees, charges for beneficiary statements or demands, amounts collected for checks returned for insufficient funds and any similar fees (excluding Prepayment Premiums or Yield Maintenance Charges), in each case to the extent actually paid by a Mortgagor with respect to a Mortgage Loan or Companion Loan and, with respect to late payment charges and penalty charges, all of the foregoing only to the extent accrued during the time that such Mortgage Loan or Companion Loan was not a
Specially Serviced Mortgage Loan, and (ii) fifty percent (50%) of all assumption application fees (other than for any initial tenant-in-common syndications specifically permitted by and in accordance with the related Mortgage Loan documents for which the Master Servicer shall receive 100% of such assumption application fees) and fifty percent (50%) of any assumption fees or tenant in common loan 


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assumption fees (other than for initial tenant-in-common syndications specifically permitted by and in accordance with the related Mortgage Loan documents for which the Master Servicer shall receive 100% of such assumption fees), in each case to the extent actually paid by a Mortgagor with respect to any Mortgage Loan or Companion Loan if such Mortgage Loan or Companion Loan is not a Specially Serviced Mortgage Loan, may be retained by the Master Servicer and are not required to be deposited in the Certificate Account; provided that the Master Servicer’s right to receive late payment charges and Penalty Interest pursuant to clause (i) above shall be limited to the portion of such items that have not been applied to pay interest on Advances as provided in Sections 3.03(d) and 4.03(d) or Additional Trust Fund Expenses (other than Special Servicing Fees, Workout Fees and/or Liquidation Fees) or interest on Advances pursuant to this
Section 3.11(b).  To the extent the Master Servicer or the Special Servicer receives late payment charges or Penalty Interest on a Mortgage Loan for which interest on Advances or Additional Trust Fund Expenses (other than Special Servicing Fees, Workout Fees and/or Liquidation Fees) related to such Mortgage Loan and not previously reimbursed to the Trust Fund, the Master Servicer shall deposit in the Certificate Account, on or prior to the P&I Advance Date following the collection of such late payment charges or Penalty Interest, an amount equal to the lesser of (i) the amount of late payment charges or Penalty Interest received on such Mortgage Loan or (ii) the sum of the amount of interest paid to the Master Servicer on Advances related to such Mortgage Loan since the Closing Date for which the Trust Fund has not been previously reimbursed and the amount of Additional Trust Fund Expenses (other than Special Servicing Fees, Workout Fees and/or Liquidation Fees) related to such

Mortgage Loan incurred since the Closing Date and not previously reimbursed to the Trust Fund.  To the extent that the Master Servicer is not entitled to late payment charges or Penalty Interest pursuant to the immediately preceding sentence, the Master Servicer shall deposit such late payment charges and Penalty Interest in the Certificate Account.  Penalty Interest or late payment charges in respect of any Mortgage Loan or Companion Loan which has accrued during the period when the related Mortgage Loan or Companion Loan is not a Specially Serviced Mortgage Loan shall be additional compensation to the Master Servicer even if collected during the period when the related Mortgage Loan or Companion Loan is a Specially Serviced Mortgage Loan.  The Master Servicer shall also be entitled to additional servicing compensation in the form of (i) Prepayment Interest Excesses; (ii) interest or other income earned on deposits in the Certificate Account and the Interest Reserve Account,
in accordance with Section 3.06(b) (but only to the extent of the Net Investment Earnings, if any, with respect to such account for each Collection Period), and (iii) to the extent not required to be paid to any Mortgagor under applicable law or the terms of the related Mortgage Loan or Companion Loan, any interest or other income earned on deposits in the Reserve Accounts and Servicing Accounts maintained thereby.


                    The Master Servicer shall be required to pay out of its own funds all expenses incurred by it in connection with its servicing activities hereunder (including, without limitation, payment of any amounts due and owing to any of its Sub-Servicers and the premiums for any blanket policy insuring against hazard losses pursuant to Section 3.07(b)), if and to the extent such expenses are not payable directly out of the Certificate Account, and the Master Servicer shall not be entitled to reimbursement therefor except as expressly provided in this Agreement.  The Master Servicer shall not waive or agree to any discount of any portion of assumption fees to which the Special Servicer is entitled.


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                    (c)          As compensation for its activities hereunder, the Special Servicer shall be entitled to receive the Special Servicing Fee with respect to each Specially Serviced Mortgage Loan and each REO Loan (other than the 2007-C30 Serviced Mortgage Loans, the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan and the GECMC 2007-C1 Serviced Mortgage Loan and the related REO Loan, if any).  As to each Specially Serviced Mortgage Loan and REO Loan, the Special Servicing Fee shall accrue at the Special Servicing Fee Rate and on the same principal amount respecting which the related interest payment due on such Specially Serviced Mortgage Loan or deemed to be due on such REO Loan is computed and calculated on the basis of a 360-day year consisting of twelve 30-day months (or, in the event of a
Principal Prepayment in full or other Liquidation Event with respect to a Mortgage Loan or REO Loan, on the basis of the actual number of days to elapse from and including the related Due Date to but excluding the date of such Principal Prepayment or Liquidation Event in a month consisting of 30 days).  The Special Servicing Fee with respect to any Specially Serviced Mortgage Loan or REO Loan shall cease to accrue as of the date a Liquidation Event occurs in respect thereof or it becomes a Corrected Mortgage Loan.  Earned but unpaid Special Servicing Fees shall be payable monthly out of general collections on the Mortgage Loans, Companion Loans and any REO Properties on deposit in the Certificate Account pursuant to Section 3.05(a).


                    As further compensation for its activities hereunder, the Special Servicer shall be entitled to receive the Workout Fee with respect to each Corrected Mortgage Loan, so long as such loan remains a Corrected Mortgage Loan.  As to each Corrected Mortgage Loan, the Workout Fee shall be payable out of, and shall be calculated by application of the Workout Fee Rate to, each collection of interest (other than Additional Interest and Penalty Interest) and principal received on such Mortgage Loan or Companion Loan for so long as it remains a Corrected Mortgage Loan (net of any portion of such collection payable or reimbursable to the Master Servicer, the Special Servicer, or the Trustee for any related unpaid or unreimbursed Master Servicing Fees and/or Advances) received on such Mortgage Loan or Companion Loan for so long as it remains a
Corrected Mortgage Loan; provided, that, with respect to any Intercreditor Agreement or any mezzanine intercreditor agreement which expressly excludes payment of a Workout Fee as part of any exercise of a purchase option thereunder, no Workout Fee shall be payable hereunder and instead, to the extent provided in the related Intercreditor Agreement, or any mezzanine intercreditor agreement and herein, a Liquidation Fee shall be payable.  The Workout Fee with respect to any Corrected Mortgage Loan will cease to be payable if a Servicing Transfer Event occurs with respect thereto or if the related Mortgaged Property becomes an REO Property; provided that a new Workout Fee would become payable if and when such Mortgage Loan and, if applicable, Companion Loan again became a Corrected Mortgage Loan.  If the Special Servicer is terminated or resigns, it will retain the right to receive any and all Workout Fees payable with respect to any Specially Serviced Mortgage Loan that became a
Corrected Mortgage Loan during the period that it acted as Special Servicer and remained a Corrected Mortgage Loan at the time of its termination or resignation or if the Special Servicer resolved the circumstances and/or conditions (including by way of a modification of the related Mortgage Loan documents) causing the Mortgage Loan to be a Specially Serviced Mortgage Loan, but the Mortgage Loan had not as of the time the Special Servicer is terminated or resigns become a Corrected Mortgage Loan because the related Mortgagor had not made three consecutive monthly debt service payments (but made the most recent monthly debt service payment prior to the termination of the Special Servicer) and subsequently becomes a Corrected Mortgage Loan as a result of making three such consecutive payments.  The successor Special Servicer will not be entitled to any portion of those Workout Fees.


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                    In addition, with respect to each Specially Serviced Mortgage Loan and REO Loan (other than the Non-Serviced Mortgage Loans) or Mortgage Loan subject to repurchase by the applicable Mortgage Loan Seller (to the extent such Mortgage Loan was not repurchased within the cure period specified in the related Mortgage Loan Purchase Agreement) (or Qualified Substitute Mortgage Loan substituted in lieu thereof), the Special Servicer shall be entitled to the Liquidation Fee payable out of, and calculated by application of the Liquidation Fee Rate to, all amounts (whether in the form of payments of Liquidation Proceeds or REO Revenues or a full or discounted payoff by the Mortgagor) received in respect of such Mortgage Loan or Companion Loan (or, in the case of an REO Loan (other than the Non-Serviced Mortgage Loans) in respect of the related REO Property)

and allocable as a full or partial recovery of principal, interest and expenses in accordance with Section 3.02(b) or the definition of “REO Loan,” as applicable; provided that no Liquidation Fee shall be payable in connection with, or out of (i) Insurance Proceeds and (ii) condemnation proceeds and (iii)  Liquidation Proceeds resulting from the purchase of any Mortgage Loan or REO Property by a Mortgage Loan Seller pursuant to the applicable Mortgage Loan Purchase Agreement if purchased within the cure period set forth in Section 3(c) of such Mortgage Loan Purchase Agreement, by the Majority Subordinate Certificateholder, the Companion Holder, or the Special Servicer pursuant to Section 3.18(c), Section 3.18(d), Section 3.18(e), Section 3.18(h) or by the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder or the purchasing Certificateholder pursuant to Section 9.01, or any mezzanine lender pursuant to the
related mezzanine intercreditor agreement if purchased by the mezzanine lender within 90 days of the related Mortgage Loan becoming a Specially Serviced Mortgage Loan; and (iii) Liquidation Proceeds resulting from the remittance by the related Mortgage Loan Seller pursuant to Section 2.03 (if remitted within the cure period set forth for repurchase in the related Mortgage Loan Purchase Agreement); and provided, further, that no Liquidation Fee shall be payable (i) in connection with a Periodic Payment received in connection with such Mortgage Loan or (ii) to the extent a Workout Fee is payable concerning the Liquidation Proceeds.


                    The Special Servicer’s right to receive the Special Servicing Fee, the Workout Fee and the Liquidation Fee may not be transferred in whole or in part except in connection with the transfer of all of the Special Servicer’s responsibilities and obligations under Sections 6.02, 6.04 and 6.09.


                    (d)          Additional servicing compensation in the form of:  (i) all late payment charges, Penalty Interest received on or with respect to Specially Serviced Mortgage Loans actually collected that, with respect to late payment charges and penalty charges, accrued during the time that the related Mortgage Loan was a Specially Serviced Mortgage Loan, (ii) one hundred percent (100%) of any assumption application fees and assumption fees with respect to any Specially Serviced Mortgage Loan and fifty percent (50%) of any assumption fees and any assumption application fees (other than with respect to any initial tenant-in-common syndications specifically permitted by and in accordance with the Mortgage Loan documents for which the Master Servicer shall receive 100% of such fees)
with respect to such Mortgage Loan or Companion Loan if such Mortgage Loan or Companion Loan is not a Specially Serviced Mortgage Loan, in each case to the extent actually paid by a Mortgagor, and (iii) modification 


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fees collected on all Mortgage Loans or Companion Loans (other than modifications made by the Master Servicer pursuant to Section 3.20(i)), in each case to the extent actually paid by the related Mortgagor, shall be retained by the Special Servicer or promptly paid to the Special Servicer by the Master Servicer and shall not be required to be deposited in the Certificate Account; provided that the Special Servicer’s right to receive late payment charges and Penalty Interest pursuant to clause (i) above shall be limited to the portion of such items that have not been applied to pay interest on Advances and property inspection costs in respect of the related Mortgage Loan as provided in Sections 3.03(d), 3.12(a) and 4.03(d) or Additional Trust Fund Expenses (other than Special Servicing Fees, Workout Fees and/or Liquidation Fees) pursuant to this Section 3.11(d).  To the extent the Master Servicer or the Special Servicer receives

late payment charges or Penalty Interest on a Mortgage Loan for which interest on Advances or Additional Trust Fund Expenses (other than Special Servicing Fees, Workout Fees and/or Liquidation Fees) related to such Mortgage Loan and not previously reimbursed to the Trust Fund, the Special Servicer shall transfer to the Master Servicer for deposit in the Certificate Account, on or prior to the P&I Advance Date following the collection of such late payment charges or Penalty Interest, an amount equal to the lesser of (i) the amount of late payment charges or Penalty Interest received on such Mortgage Loan or (ii) the sum of the amount of interest paid to the Master Servicer on Advances related to such Mortgage Loan incurred since the Closing Date for which the Trust Fund has not been previously reimbursed and the amount of Additional Trust Fund Expenses (other than Special Servicing Fees, Workout Fees and/or Liquidation Fees) related to such Mortgage Loan since the Closing Date and not
previously reimbursed to the Trust Fund.  To the extent that the Special Servicer is not entitled to late payment charges or Penalty Interest pursuant to the immediately preceding sentence, the Special Servicer shall promptly transfer such late payment charges and Penalty Interest to the Master Servicer who shall deposit such late payment charges and Penalty Interest in the Certificate Account.  The Special Servicer shall also be entitled to additional servicing compensation in the form of:  (i) interest or other income earned on deposits in the REO Account, if established, in accordance with Section 3.06(b) (but only to the extent of the Net Investment Earnings, if any, with respect to the REO Account for each Collection Period); and (ii) to the extent not required to be paid to any Mortgagor under applicable law, any interest or other income earned on deposits in the Servicing Accounts maintained by the Special Servicer.  The Special Servicer shall be required to
pay out of its own funds all general and administrative expenses incurred by it in connection with its servicing activities hereunder, and the Special Servicer shall not be entitled to reimbursement therefor except as expressly provided in Section 3.05(a) if and to the extent such expenses are not payable directly out of the Certificate Account or the REO Account.


          Section 3.12    Property Inspections; Collection of Financial Statements; Delivery of Certain Reports.


                    (a)          (i) The Special Servicer shall perform or cause to be performed a physical inspection of a Mortgaged Property as soon as practicable after a related Mortgage Loan becomes a Specially Serviced Mortgage Loan and (ii) the Master Servicer (in the case of non-Specially Serviced Mortgage Loans and other than the Non-Serviced Mortgage Loans) or the Special Servicer (in the case of Specially Serviced Mortgage Loans) shall perform or cause to be performed a physical inspection of a Mortgaged Property as soon as the related Debt Service Coverage Ratio set forth in the CMSA Comparative Financial Status Report of a Mortgage Loan is below 1.00x; provided that with respect to inspections prepared by the Special Servicer, such 


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expense shall be reimbursable first out of Penalty Interest and late payment charges otherwise payable to the Special Servicer and received in the Collection Period during which such inspection related expenses were incurred, then as an Additional Trust Fund Expense (except to the extent that such Additional Trust Fund Expense is payable out of the proceeds of any Companion Loan pursuant to the related Intercreditor Agreement and this Agreement).  Each of the Master Servicer for each Mortgage Loan (other than a Specially Serviced Mortgage Loan or REO Loan) and the Special Servicer for each Specially Serviced Mortgage Loan and REO Loan shall (and, in the case of the Master Servicer, at its expense) perform or cause to be performed an inspection of all the Mortgaged Properties at least once per calendar year (or, in the case of each Mortgaged Property securing a Mortgage Loan (other than a Specially Serviced Mortgage Loan) with a then current principal balance
(or allocated loan amount) of less than $2,000,000 at the time of such inspection, every other calendar year) beginning in 2008; provided, however, the Master Servicer shall not be required to inspect any Mortgaged Property that has been inspected by the Special Servicer during the immediately preceding six months.  The Special Servicer and the Master Servicer shall each prepare (and, in the case of the Special Servicer, shall deliver to the Master Servicer) a written report of each such inspection performed by it that sets forth in detail the condition of the Mortgaged Property and that specifies the existence of:  (i) any sale, transfer or abandonment of the Mortgaged Property of which it is aware, (ii) any change in the condition or value of the Mortgaged Property that it, in its reasonable judgment, considers material, or (iii) any visible waste committed on the Mortgaged Property.  The Master Servicer shall deliver such reports to the Trustee within 45
days of the related inspection and the Trustee shall, subject to Section 3.15, make copies of all such inspection reports available for review by Certificateholders and Certificate Owners during normal business hours at the offices of the Trustee at all times after the Trustee’s receipt thereof.  Upon written request and at the expense of the requesting party, the Trustee shall deliver copies of any such inspection reports to Certificateholders and Certificate Owners.  The Special Servicer shall have the right to inspect or cause to be inspected (at its own expense) every calendar year any Mortgaged Property related to a loan that is not a Specially Serviced Mortgage Loan; provided that the Special Servicer obtains the approval of the Master Servicer prior to such inspection, and provides a copy of such inspection to the Master Servicer; provided, further, that the Master Servicer and the Special Servicer shall not both inspect a Mortgaged Property that is not
securing a Specially Serviced Mortgage Loan in the same calendar year.  If the Special Servicer performs such inspection, such inspection shall satisfy the Master Servicer’s inspection obligations pursuant to this paragraph (a).


                    With respect to site inspection information, the Master Servicer shall make such inquiry of any Mortgagor under any related Mortgage Loan as the Special Servicer may reasonably request.


                    (b)          Not later than 2:00 p.m. (New York City time) on the second Business Day prior to each Determination Date, the Special Servicer shall deliver or cause to be delivered to the Master Servicer the following reports with respect to the Specially Serviced Mortgage Loans and any REO Properties providing the required information as of the end of the preceding calendar month:  (i) a CMSA Special Servicer Loan File; (ii) the Appraisal Reduction Template and (iii) the Realized Loss Template.  


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                    (c)          Not later than 4:00 p.m. (New York City time) on the third Business Day after each Determination Date, the Master Servicer shall deliver or cause to be delivered to the Trustee (in electronic format acceptable to the Master Servicer and the Trustee) (A) the most recent CMSA Historical Loan Modification and Corrected Mortgage Loan Report and CMSA REO Status Report based upon the information received from the Special Servicer pursuant to Section 3.12(b); (B) a CMSA Property File, a CMSA Comparative Financial Status Report and a CMSA Financial File, each with the required information as of the end of the preceding calendar month (in each case combining the reports prepared by the Special Servicer and the Master Servicer); (C) a CMSA Loan Level Reserve/LOC Report and
CMSA Delinquent Loan Status Report, each with the required information as of such Determination Date (in each case combining the reports prepared by the Special Servicer and the Master Servicer); (D) a CMSA Servicer Watchlist/Portfolio Review Guidelines with the required information as of such Determination Date; and (E) a CMSA Advance Recovery Report, with the required information as of such Determination Date.  Notwithstanding anything contained herein to the contrary and for the avoidance of doubt, it is acknowledged and agreed that with respect to any report, file or other material (or portion thereof) required to be provided by the Master Servicer pursuant to this Section 3.12(c) that relates to (i) a Specially Serviced Mortgage Loan and/or REO Property or (ii) a non-Specially Serviced Mortgage Loan during such time that such Mortgage Loan was a Specially Serviced Mortgage Loan, such report, file other material (or portion thereof) shall be based solely upon the information
provided by the Special Servicer pursuant to Section 3.12(b), and the Master Servicer may, absent manifest error, conclusively rely on any such information provided by the Special Servicer and shall not be liable for any error and/or inaccuracy in such information. In addition, the Master Servicer shall not be liable nor in default for any delay in providing any report under this Section 3.12(c) to the extent caused by the Special Servicer’s delay to timely provide the information required to be provided by the Special Servicer pursuant to Section 3.12(b) as set forth in Section 3.12(d).


                    (d)          The Special Servicer will deliver to the Master Servicer the reports set forth in Section 3.12(b) and this Section 3.12(d) and the Master Servicer shall deliver to the Trustee the reports set forth in this Section 3.12 in an electronic format reasonably acceptable to the Special Servicer and the Master Servicer with respect to the reports set forth in Section 3.12(b) and this Section 3.12(d) and the Master Servicer and the Trustee with respect to the reports set forth in Section 3.12(c).  The Master Servicer may, absent manifest error, conclusively rely on the reports to be provided by the Special Servicer pursuant to Section 3.12(b) and this Section 3.12(d) and the 2007-C30 Master Servicer, the 2007-C30 Special Servicer, the Morgan
Stanley 2007-IQ14 Master Servicer, the Morgan Stanley 2007-IQ14 Special Servicer, the GECMC 2007-C1 Master Servicer and the GECMC 2007-C1 Special Servicer to the extent required to be provided pursuant to the 2007-C30 Pooling and Servicing Agreement, the Morgan Stanley 2007-IQ14 Pooling and Servicing Agreement and the GECMC 2007-C1 Pooling and Servicing Agreement, as the case may be.  The Trustee may, absent manifest error, conclusively rely on the CMSA Loan Periodic Update File to be provided by the Master Servicer pursuant to Section 4.02(b).  In the case of information or reports to be furnished by the Master Servicer to the Trustee pursuant to this Section 3.12, to the extent that such information is based on reports to be provided by the Special Servicer pursuant to Section 3.12(b) and this Section 3.12(d) and, to the extent that such reports are to be prepared and delivered by the Special Servicer pursuant to Section 3.12(b) and this Section 3.12(d), the
Master Servicer shall have no obligation to provide such information or reports until it has 


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received such information or reports from the Special Servicer and the Master Servicer shall not be in default hereunder due to a delay in providing the reports required by this Section 3.12 to the extent caused by the Special Servicer’s failure to timely provide any report required under Section 3.12(b) and this Section 3.12(d) of this Agreement.


                    The Special Servicer, in the case of any Specially Serviced Mortgage Loan and REO Loan, and the Master Servicer, in the case of all other Mortgage Loans (other than the Non-Serviced Mortgage Loans), shall endeavor, consistent with the Servicing Standard, to obtain quarterly and annual operating statements and rent rolls with respect to the related Mortgage Loans and REO Properties, which efforts shall include (i) in the case of the Mortgage Loans (other than the Non-Serviced Mortgage Loans), a letter sent to the related Mortgagor each quarter (followed up with telephone calls) requesting such quarterly and annual operating statements and rent rolls until they are received to the extent such action is consistent with applicable law and the related Mortgage Loan documents, and (ii) with respect to the 2007-C30 Serviced Mortgage Loans,
the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan and the GECMC 2007-C1 Serviced Mortgage Loan, a letter sent to the 2007-C30 Master Servicer, the Morgan Stanley 2007-IQ14 Master Servicer and the GECMC 2007-C1 Master Servicer, as applicable, to provide such information to the extent required to be delivered pursuant to the related Intercreditor Agreement.


                    The Special Servicer shall promptly, following receipt, deliver copies of the operating statements and rent rolls received or obtained by it to the Master Servicer, and the Master Servicer shall deliver copies of the operating statements and rent rolls received or obtained by it to the Rating Agencies, the Trustee, the Special Servicer or the Controlling Class Representative in each case (other than the Rating Agencies and the Controlling Class Representative which shall be sent copies within 30 days following the Master Servicer’s receipt) upon request.


                    Within 30 days after receipt by the Master Servicer (with respect to any Mortgaged Property other than a REO Property) or the Special Servicer (with respect to any REO Property) of any annual operating statements with respect to any Mortgaged Property or REO Property, as applicable (other than, in each case, the Mortgaged Property or REO Property related to the 2007-C30 Serviced Mortgage Loans, the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan and the GECMC 2007-C1 Serviced Mortgage Loan), each of the Master Servicer (with respect to any Mortgaged Property other than a REO Property) and the Special Servicer (with respect to any REO Property) shall prepare or update, and with respect to any CMSA NOI Adjustment Worksheet prepared or updated by the Special Servicer, forward to the Master Servicer, a CMSA NOI Adjustment Worksheet for such Mortgaged

Property or REO Property (with the annual operating statements attached thereto as an exhibit). The Master Servicer may, absent manifest error, conclusively rely on the reports to be provided by the Special Servicer pursuant to Section 3.12(b) and this Section 3.12(d) and the 2007-C30 Master Servicer, the 2007-C30 Special Servicer, the Morgan Stanley 2007-IQ14 Master Servicer, the Morgan Stanley 2007-IQ14 Special Servicer, the GECMC 2007-C1 Master Servicer and the GECMC 2007-C1 Special Servicer to the extent required to be provided pursuant to the 2007-C30 Pooling and Servicing Agreement, the Morgan Stanley 2007-IQ14 Pooling and Servicing Agreement and the GECMC 2007-C1 Pooling and Servicing Agreement, as the case may be.


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                    The Master Servicer with respect to each Mortgage Loan (other than the Non-Serviced Mortgage Loans) and the Special Servicer with respect to REO Properties, shall each prepare and maintain and forward to each other one CMSA Operating Statement Analysis for each Mortgaged Property and REO Property, as applicable; provided, however, with respect to the 2007-C30 Serviced Mortgage Loans, the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan and the GECMC 2007-C1 Serviced Mortgage Loan, the Master Servicer shall forward to each recipient of a CMSA Operating Statement Analysis hereunder a copy of the CMSA Operating Statement Analysis received from the 2007-C30 Master Servicer related to such 2007-C30 Serviced Mortgage Loans, the Morgan Stanley 2007-IQ14 Master Servicer related to such Morgan Stanley 2007-IQ14 Serviced Mortgage Loan or the GECMC


2007-C1 Master Servicer related to such GECMC 2007-C1 Serviced Mortgage Loan. The CMSA Operating Statement Analysis for each Mortgaged Property and REO Property is to be updated by each of the Master Servicer and the Special Servicer, as applicable, within thirty days after its receipt of updated operating statements for such Mortgaged Property and REO Property, as the case may be, but in no event less frequently than annually by June 30th of each year.  The Master Servicer and the Special Servicer shall each use the “Normalized” column from the CMSA NOI Adjustment Worksheet for any Mortgaged Property or REO Property, as the case may be, to update the corresponding CMSA Operating Statement Analysis and shall use any operating statements received with respect to any Mortgaged Property or REO Property, as the case may be, to prepare the CMSA NOI Adjustment Worksheet for such property.  Copies of CMSA Operating Statement Analyses and CMSA NOI Adjustment Worksheets are to be made
available by the Master Servicer to the Trustee, the Special Servicer or the Controlling Class Representative in each case upon request. The Master Servicer may, absent manifest error, conclusively rely on the reports to be provided by the Special Servicer pursuant to Section 3.12(b) and this Section 3.12(d) and the 2007-C30 Master Servicer, the 2007-C30 Special Servicer, the Morgan Stanley 2007-IQ14 Master Servicer, the Morgan Stanley 2007-IQ14 Special Servicer, the GECMC 2007-C1 Master Servicer and the GECMC 2007-C1 Special Servicer to the extent required to be provided pursuant to the 2007-C30 Pooling and Servicing Agreement, the Morgan Stanley 2007-IQ14 Pooling and Servicing Agreement and the GECMC 2007-C1 Pooling and Servicing Agreement, as the case may be.


                    (e)          With respect to the Serviced Pari Passu Mortgage Loans, the Master Servicer and the Special Servicer, as applicable, will provide the related Companion Holders with copies of any and all documents, certificates, instruments, notices, reports, operating statements, rent rolls, correspondences and other information required to be delivered pursuant to the terms of the applicable Pari Passu Intercreditor Agreement.


          Section 3.13     Annual Reports on Assessment of Compliance with Servicing Criteria and Annual Statement as to Compliance.


                    (a)          On or before noon (Eastern Time) on March 15 of each year, with no cure period, commencing in March 2008, or April 15 of each year in which the Trust Fund is not required to file a Form 10-K, the Master Servicer, the Special Servicer and the Trustee, each at its own expense, shall furnish, and the Master Servicer and Special Servicer shall cause each Servicing Participant with which it has entered into a relationship with respect to the Mortgage Loans to furnish and the Master Servicer shall cause each Additional Servicer to furnish to the Trustee and the Depositor, with a copy to the Rating Agencies and the Controlling Class 


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Representative, a report on an assessment of compliance with the Servicing Criteria that contains (i) a statement by such Reporting Party of its responsibility for assessing compliance with the Servicing Criteria applicable to it, (ii) a statement that such Reporting Party used the Servicing Criteria to assess compliance with the Relevant Servicing Criteria, (iii) such Reporting Party’s assessment of compliance with the Relevant Servicing Criteria as of and for the period ending the end of the fiscal year covered by the Form 10-K required to be filed pursuant to Section 8.17, including, if there has been any material instance of noncompliance with the Relevant Servicing Criteria, a discussion of each such failure and the nature and status thereof, and (iv) a statement that a registered public accounting firm has issued an attestation report on such Reporting Party’s assessment of compliance with the Relevant Servicing Criteria as


of and for such period.  Promptly after receipt of each such report, the Depositor may review each such report and, if applicable, consult with the Trustee, the Master Servicer and the Special Servicer as to the nature of any material instance of noncompliance with the Relevant Servicing Criteria by the Trustee, the Master Servicer, the Special Servicer or any Servicing Participant with which it has entered into a servicing relationship with respect to the Mortgage Loans.  None of the Trustee, the Master Servicer or the Special Servicer shall be required to cause the delivery of any such statements until April 15 in any given year so long as it has received written confirmation from the Depositor that a Report on Form 10-K is not required to be filed in respect of the Trust Fund for the preceding calendar year.


                    Each such report shall be addressed to the Depositor and signed by an authorized officer of the applicable company, and shall address each of the Relevant Servicing Criteria specified on a certification substantially in the form of Exhibit S hereto delivered to the Depositor on the Closing Date.  Promptly after receipt of each such report, (i) the Depositor may review each such report and, if applicable, consult with the Master Servicer, the Special Servicer and/or the Trustee as to the nature of any material instance of noncompliance with the Relevant Servicing Criteria (and each Sub-Servicer or Servicing Participant engaged or utilized by the Master Servicer, the Special Servicer or the Trustee, as applicable), and (ii) the Trustee shall confirm that the assessments taken individually address the Relevant Servicing
Criteria as set forth on Exhibit S and notify the Depositor of any exceptions.  None of the Master Servicer, the Special Servicer, the Trustee or any Servicing Participant shall be required to cause the delivery of any such assessments until March 10 in any given year so long as it has received written confirmation from the Depositor that a Report on Form 10-K is not required to be filed in respect of the Trust for the preceding calendar year.  To the extent the Trustee has actual knowledge of a deficiency in the reporting of the Relevant Servicing Criteria (whether individually with respect to the Relevant Servicing Criteria, or in the aggregate with respect to the Servicing Criteria taken as a whole), the Trustee shall promptly notify in accordance with the last paragraph of Section 8.17(n) the Depositor and whichever of the Master Servicer or the Special Servicer that failed to provide the Relevant Servicing Criteria.



                    No
later than the end of each fiscal year for the Trust Fund, the Master Servicer
and the Special Servicer shall notify the Trustee, the Master Servicer or the
Special Servicer, as applicable, and the Depositor as to the name of each
Sub-Servicer engaged by it and each Servicing Participant utilized by it, and
the Trustee shall notify the Depositor as to the name of each Servicing
Participant utilized by it, and each such notice will specify which Relevant
Servicing Criteria will be addressed in the report on assessment of compliance
prepared by such Servicing Participant and/or Sub-Servicer.  When the
Master Servicer, the Special Servicer and


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the Trustee submit their assessments
pursuant to Section 3.13(a), the Master Servicer, the Special Servicer and
the Trustee, as applicable, will also at such time include the assessment (and
related attestation pursuant to Section 3.14) of each Servicing Participant
and/or Sub-Servicer engaged by it.




                    In the event the Master Servicer, the Special Servicer or the Trustee is terminated or resigns pursuant to the terms of this Agreement, such party shall provide, and each such party shall cause any Servicing Participant engaged by it or formerly engaged by it to provide, and the Master Servicer shall use its reasonable efforts to cause any Additional Servicer that resigns or is terminated under any applicable servicing agreement to provide, an annual assessment of compliance pursuant to this Section 3.13, coupled with an attestation as required in Section 8.17 with respect to the period of time that the Master Servicer, the Special Servicer or the Trustee was subject to this Agreement or the period of time that the Additional Servicer was subject to such other servicing agreement.


                    (b)          The Trustee, the Master Servicer and the Special Servicer shall, and the Master Servicer (or, in the case of the Master Servicer with respect to the Sub-Servicers identified on Exhibit Y hereto, shall use reasonable efforts to cause) and Special Servicer shall cause each Servicing Participant with which it has entered into a relationship with respect to the Mortgage Loans, to deliver to the Depositor and the Trustee on or before March 15 of each year, with no cure period, commencing in March 2008, an Officer’s Certificate stating, as to the Trustee, the Master Servicer, the Special Servicer or the Additional Servicer, as applicable, that (i) a review of such entity’s activities during the preceding calendar year or portion thereof and of such entity’s
performance under this Agreement, or the applicable servicing agreement in the case of any Additional Servicer, has been made under such officer’s supervision and (ii) to the best of such officer’s knowledge, based on such review, such entity has fulfilled all its obligations under this Agreement, or the applicable Sub-Servicing Agreement or primary servicing agreement in the case of any Additional Servicer, in all material respects throughout such year or portion thereof, or, if there has been a failure to fulfill any such obligation in any material respect, specifying each such failure known to such officer and the nature and status thereof.  The Trustee, the Master Servicer and the Special Servicer shall, and the Master Servicer (or, in the case of the Master Servicer with respect to the Sub-Servicers identified on Exhibit Y hereto, shall use reasonable efforts to cause) and the Special Servicer shall cause each Additional Servicer with which it has entered into a
servicing relationship with respect to the Mortgage Loans to, forward, or make available a copy of each such statement to the Rating Agencies and the Controlling Class Representative. Promptly after receipt of each such Officer’s Certificate, the Depositor may review such Officer’s Certificate and, if applicable, consult with the Trustee, the Master Servicer or the Special Servicer, as applicable, as to the nature of any failures by the Trustee, the Master Servicer or the Special Servicer, respectively, or any related any Additional Servicer with which the Master Servicer or the Special Servicer, as applicable, has entered into a servicing relationship with respect to the Mortgage Loans in the fulfillment of any of the Master Servicer’s or Special Servicer’s obligations hereunder or under the applicable servicing agreement.



                    The
obligations of the Master Servicer, the Special Servicer, the Trustee and each
Additional Servicer under this Section apply to the Master Servicer, the Special
Servicer, the Trustee and each Additional Servicer that serviced a Mortgage Loan
during the applicable


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period, whether or not the Master Servicer, the Special
Servicer, the Trustee or Additional Servicer is acting as the Master Servicer,
the Special Servicer, the Trustee or Additional Servicer at the time such
Officer’s Certificate is required to be delivered.



In the event the Master Servicer, the Special Servicer or the Trustee is
terminated or resigns pursuant to the terms of this Agreement, such party shall
provide, and the Master Servicer shall use its reasonable efforts to cause any
Additional Servicer that resigns or is terminated under any applicable servicing
agreement to provide, an annual statement of compliance pursuant to this
Section 3.13 with respect to the period of time that the Master Servicer,
the Special Servicer or the Trustee was subject to this Agreement or the period
of time that the Additional Servicer was subject to such other servicing
agreement.






          Section 3.14     Attestation by Independent Public Accountants.


                    On or before noon (Eastern Time) on March 15 of each year, with no cure period, commencing in March 2008, or April 15 of each year in which the Trust Fund is not required to file a Form 10-K, the Master Servicer, the Special Servicer and the Trustee, each at its own expense, shall cause, and the Master Servicer (or, in the case of the Master Servicer with respect to the Sub-Servicers identified on Exhibit Y hereto, shall use reasonable efforts to cause), the Special Servicer and the Trustee shall cause each Servicing Participant with which it has entered into a relationship with respect to the Mortgage Loans to cause, and the Master Servicer shall cause each Additional Servicer to cause, a registered public accounting firm (which may also render other services to the Master Servicer, the Special Servicer, the Trustee or the applicable
Servicing Participant, as the case may be) and that is a member of the American
Institute of Certified Public Accountants to furnish a report to the Trustee and
the Depositor, with a copy to the Rating Agencies and the Controlling Class
Representative, to the effect that (i) it has obtained a representation
regarding certain matters from the management of such Reporting Party, which
includes an assertion that such Reporting Party has complied with the Relevant
Servicing Criteria and (ii) on the basis of an examination conducted by
such firm in accordance with standards for attestation engagements issued or
adopted by the Public Company Accounting Oversight Board, attests to and reports
on such Reporting Party’s assessment of compliance with the Relevant
Servicing Criteria.  In the event that an overall opinion cannot be
expressed, such registered public accounting firm shall state in such report why
it was unable to express such an opinion.  Each such related
accountant’s attestation report shall be made in accordance with Rules
1-02(a)(3) and 2-02(g) of Regulation S-X under the Securities Act and the
Exchange Act.  Such report must be available for general use and not
contain restricted use language.  Promptly after receipt of such report
from the Trustee, the Master Servicer, the Special Servicer or any Servicing
Participant, the Depositor may review the report and, if applicable, consult
with the Trustee, the Master Servicer or the Special Servicer as to the nature
of any defaults by the Trustee, the Master Servicer, the Special Servicer or any
Servicing Participant with which it has entered into a servicing relationship
with respect to the Mortgage Loans, as the case may be, in the fulfillment of
any of the Trustee’s, the Master Servicer’s, the Special
Servicer’s or the applicable Servicing Participant’s obligations
hereunder or under the applicable servicing agreement.  The Trustee, the
Master Servicer and the Special Servicer shall not be required to cause the
delivery of such reports until April 15 in any given year so long as it has
received written confirmation from the Depositor that a Report on Form 10-K is
not required to be filed in respect of the Trust Fund for the preceding calendar
year.  The Trustee shall confirm that each 


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accountants’ attestation report
submitted pursuant to this Section relates to an assessment of compliance that
on its face meets the requirements of Section 3.13(a) and notify the
Depositor of any exceptions.



          Section 3.15     Access to Certain Information.


                    (a)          Upon ten days prior written notice, the Master Servicer (with respect to the items in clauses (a), (b) (other than Distribution Date Statements), (c), (d), (e), (f), (h) and (i) below, unless such item was not delivered to the Master Servicer), the Special Servicer (with respect to the items in clauses (c), (d), (g), (h) and (i) below) to the extent such items are in its possession and the Trustee (with respect to the items in clauses (b) and (i) below and any other items, to the extent in its possession) shall make available at their respective offices primarily responsible for administration of the Mortgage Loans (or in the case of the Trustee, at its Corporate Trust Office, except with respect to documents which constitute part of
the Mortgage Files, which will be maintained at its offices in Minnesota), during normal business hours, or send to the requesting party, such party having been certified to the Trustee, the Master Servicer or the Special Servicer, as applicable, in accordance with (a) and (b) in the following paragraph, as appropriate, at the expense of such requesting party (unless otherwise provided in this Agreement), for review by any Certificate Owner or Certificateholder or any Person identified by a Certificate Owner or Certificateholder or its designated agent to the Trustee, the Master Servicer or the Special Servicer, as the case may be, as a prospective transferee of any Certificate or interest therein or a Companion Loan or any interest therein (to the extent such information is related to such Companion Loan or the related Mortgage Loan), the Trustee, the Rating Agencies, the Underwriters and any applicable regulator or potential purchaser specified thereby and the Depositor, originals or
copies of the following items:  (a) this Agreement and any amendments thereto, (b) all Distribution Date Statements delivered to holders of the relevant Class of Certificates since the Closing Date and all reports, statements and analyses delivered by the Master Servicer since the Closing Date pursuant to Section 3.12(c), (c) all Officer’s Certificates delivered by the Master Servicer or the Special Servicer since the Closing Date pursuant to Section 3.13, (d) all accountants’ reports delivered to the Master Servicer in respect of itself or the Special Servicer since the Closing Date as described in Section 3.14, (e) the most recent property inspection report prepared by or on behalf of the Master Servicer in respect of each Mortgaged Property and any Environmental Assessments prepared pursuant to Section 3.09, (f) the most recent Mortgaged Property annual operating statements and rent roll, if any, collected by or on behalf of the
Master Servicer, (g) any and all modifications, waivers and amendments of the terms of a Mortgage Loan entered into by the Special Servicer and the Asset Status Report prepared pursuant to Section 3.21(d), (h) the Servicing File relating to each Mortgage Loan and (i) any and all Officer’s Certificates and other evidence delivered by the Master Servicer or the Special Servicer, as the case may be, to support its determination that any Advance was, or if made, would be, a Nonrecoverable Advance pursuant to Sections 3.03(e) or 4.03(c), including appraisals affixed thereto and any Required Appraisal prepared pursuant to Section 3.09(a).  Copies of any and all of the foregoing items will be available from the Master Servicer, the Special Servicer or the Trustee, as the case may be, upon request and shall be provided to any of the Rating Agencies at no cost pursuant to their reasonable requests.


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                    In connection with providing access to or copies of the items described in the preceding paragraph pursuant to this Section 3.15, or with respect to the Controlling Class Representative, in connection with providing access to or copies of any items in accordance with this Agreement, the Trustee, the Master Servicer or the Special Servicer, as applicable, shall require:  (a) in the case of Certificate Owners and the Controlling Class Representative, a confirmation (which in the case of the Controlling Class Representative may be a standing confirmation) executed by the requesting Person substantially in the form of Exhibit K-1 hereto (or such other form as may be reasonably acceptable to the Trustee, the Master Servicer or the Special Servicer, as applicable) generally to the effect that such Person is a beneficial holder of
Book-Entry Certificates, or a representative of a beneficial holder of Book-Entry Certificates, and, subject to the last sentence of this paragraph, will keep such information confidential (except that such Certificate Owner and the Controlling Class Representative may provide such information to any other Person that holds or is contemplating the purchase of any Certificate or interest therein; provided that such other Person confirms in writing such ownership interest or prospective ownership interest and agrees to keep such information confidential); and (b) in the case of a prospective purchaser of a Certificate or an interest therein, confirmation executed by the requesting Person substantially in the form of Exhibit K-2 hereto (or such other form as may be reasonably acceptable to the Trustee, the Master Servicer or the Special Servicer, as applicable) generally to the effect that such Person is a prospective purchaser of a Certificate or an interest therein, is requesting the


information for use in evaluating a possible investment in Certificates and, subject to the last sentence of this paragraph, will otherwise keep such information confidential.  The Holders of the Certificates, by their acceptance thereof, and the Controlling Class Representative, by its acceptance of its appointment, will be deemed to have agreed, subject to the last sentence of this paragraph, to keep such information confidential (except that any Holder may provide such information obtained by it to any other Person that holds or is contemplating the purchase of any Certificate or interest therein; provided that such other Person confirms in writing such ownership interest or prospective ownership interest and agrees to keep such information confidential) and agrees not to use such information in any manner that would violate federal, state or local securities laws.  Notwithstanding the foregoing, no Certificateholder, Certificate Owner or prospective Certificateholder or
Certificate Owner shall be obligated to keep confidential any information received from the Trustee, the Master Servicer or the Special Servicer, as applicable, pursuant to this Section 3.15 that has previously been made available via the Trustee’s, the Master Servicer’s or Special Servicer’s Internet Website without restriction as to access as permitted pursuant to the terms of this Agreement, as applicable, or has previously been filed with the Commission, and the Trustee, the Master Servicer or the Special Servicer, as applicable, shall not require either of the certifications contemplated by the second preceding sentence in connection with providing any information pursuant to this Section 3.15 that has previously been made available via the Trustee’s, the Master Servicer’s or Special Servicer’s Internet Website without restriction as to access in compliance with the terms of this Agreement, as applicable, or has previously been filed with the
Commission.


                    Each of the Master Servicer and the Special Servicer shall afford to the Trustee, the Rating Agencies and the Depositor, and to the OTS, the FDIC, the Federal Reserve Board and any other banking or insurance regulatory authority that may exercise authority over any Certificateholder or a Companion Loan or any interest therein (to the extent such information is related to such Companion Loan or the related Mortgage Loan), access to any records regarding the Mortgage Loans and the servicing thereof within its control, except to the extent it is prohibited from doing so by applicable law or contract or to the extent such information is 


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subject to a privilege under applicable law to be asserted on behalf of the Certificateholders or the Companion Holders.  Such access shall be afforded only upon reasonable prior written request and during normal business hours at the offices of the Master Servicer or the Special Servicer, as the case may be, designated by it.


                    The Trustee, the Master Servicer, the Special Servicer and the Underwriters may require payment from the Certificateholder or Certificate Owner or holder of a Companion Loan, as applicable, of a sum sufficient to cover the reasonable costs and expenses of providing any such information or access pursuant to this Section 3.15 to, or at the request of, the Certificateholders or Certificate Owners or prospective transferees or holder of a Companion Loan, as applicable, including, without limitation, copy charges and, in the case of Certificateholders or Certificate Owners or holder of a Companion Loan, if applicable, requiring on site review in excess of 3 Business Days, reasonable fees for employee time and for space.


                    (b)          The Trustee shall, and the Master Servicer may, but is not required to, make available on or prior to the Distribution Date in each month to the general public (i) the Distribution Date Statement via their respective Internet Websites, (ii) as a convenience for the general public, the Prospectus Supplement, the Prospectus and this Agreement on their respective Internet Websites and (iii) any other items at the request of the Depositor via their respective Internet Websites.  In addition, the Trustee shall make available each month, on each Distribution Date, the Unrestricted Servicer Reports, the CMSA Loan Periodic Update File, the CMSA Loan Setup File, the CMSA Bond File and the CMSA Collateral Summary File to the general public on its Internet Website (on a
password protected basis).  The Trustee shall, upon written request, make available each month, on each Distribution Date, (i) the Restricted Servicer Reports, and (ii) the CMSA Property File and the CMSA Financial File to any Privileged Person and to any other Person upon the direction of the Depositor.


                    The Master Servicer may, but is not required to, make available each month via its Internet Website (i) to any interested party, the Unrestricted Servicer Reports, the CMSA Loan Setup File and the CMSA Loan Periodic Update File, and (ii) to any Privileged Person, with the use of a password provided by the Master Servicer, the Restricted Servicer Reports, the CMSA Financial File and the CMSA Property File.  Any Restricted Servicer Report or Unrestricted Servicer Report that is not available on the Master Servicer’s Internet Website as described in the immediately preceding sentence by 5:00 p.m. (New York City time) on the related Distribution Date shall be provided (in electronic format, or if electronic mail is unavailable, by facsimile) by the Master Servicer, upon request, to any Person otherwise entitled to access such
report on the Master Servicer’s Internet Website.


                    In connection with providing access to the Trustee’s Internet Website or the Master Servicer’s Internet Website, the Trustee or the Master Servicer, as applicable, may require registration and the acceptance of a disclaimer.


                    If three or more Holders or the Controlling Class Representative (hereinafter referred to as “Applicants” with a single Person which (together with its Affiliates) is the Holder of more than one Class of Certificates being viewed as a single Applicant for these purposes) apply in writing to Trustee, and such application states that the Applicants’ desire to communicate with other Holders with respect to their rights under this Agreement or under the 


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Certificates and is accompanied by a copy of the communication which such Applicants propose to transmit, then the Trustee shall, within 5 Business Days after the receipt of such application, send, at the Applicants’ expense, the written communication proffered by the Applicants to all Certificateholders at their addresses as they appear in the Certificate Register.


                    (c)          The Master Servicer and the Special Servicer shall not be required to confirm, represent or warrant the accuracy or completeness of any other Person’s information or report included in any communication from the Master Servicer or the Special Servicer under this Agreement.  Neither the Master Servicer nor the Trustee shall be liable for the dissemination of information in accordance with this Section 3.15(c).  The Trustee makes no representations or warranties as to the accuracy or completeness of any report, document or other information made available on the Trustee’s Website and assumes no responsibility therefor.  In addition, the Trustee, the Master Servicer and the Special Servicer may disclaim responsibility for any information distributed by
the Trustee, the Master Servicer or the Special Servicer, respectively, for which it is not the original source.


                    (d)          With respect to any Companion Loan, the Companion Holders shall receive and have access to any information described in this Section 3.15 which such Companion Holder is entitled to pursuant to the related Intercreditor Agreement.


          Section 3.16     Title to REO Property; REO Account.


                    (a)           If title to any REO Property is acquired, the deed or certificate of sale shall be issued to the Trustee or its nominee on behalf of the Certificateholders and, if applicable, the Companion Holder, as their interests shall appear.  For the avoidance of doubt, except with respect to the penultimate and last sentences of this Section 3.16(a), REO Property with respect to the 2007-C30 Serviced Mortgage Loans, the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan and the GECMC 2007-C1 Serviced Mortgage Loan is excluded for all purposes from this Section 3.16.  The Special Servicer, on behalf of the Trust Fund, shall sell any such REO Property as soon as practicable in accordance with the Servicing Standard, but prior to the end of the third year following the calendar
year in


which REMIC I acquires ownership of such REO Property (or applicable portion thereof) for purposes of Section 860G(a)(8) of the Code, unless the Special Servicer either (i) applies for, more than 60 days prior to the end of such third succeeding year, and is granted an extension of time (an “REO Extension”) by the Internal Revenue Service to sell such REO Property or (ii) obtains for the Trustee an Opinion of Counsel, addressed to the Trustee, the Special Servicer and the Master Servicer, to the effect that the holding by REMIC I of such REO Property subsequent to the end of such third succeeding year will not result in the imposition of taxes on “prohibited transactions” (as defined in Section 860F of the Code) of either of REMIC I or REMIC II or cause either of REMIC I or REMIC II to fail to qualify as a REMIC at any time that any Certificates are outstanding.  If the Special Servicer is granted the REO Extension
contemplated by clause (i) of the immediately preceding sentence or obtains the Opinion of Counsel contemplated by clause (ii) of the immediately preceding sentence, the Special Servicer shall sell such REO Property within such extended period as is permitted by such REO Extension or such Opinion of Counsel, as the case may be.  Any expense incurred by the Special Servicer in connection with its obtaining the REO Extension contemplated by clause (i) of the second preceding sentence or its obtaining the Opinion of Counsel contemplated by clause (ii) of the second preceding sentence, shall first be payable from 


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the related REO Account to the extent of available funds and then be a Servicing Advance by the Master Servicer.  In the case of the Trust Fund’s beneficial interest in the Mortgaged Property acquired by the 2007-C30 Trustee pursuant to the 2007-C30 Pooling and Servicing Agreement, by the Morgan Stanley 2007-IQ14 Trustee pursuant to the Morgan Stanley 2007-IQ14 Pooling and Servicing Agreement or by the GECMC 2007-C1 Trustee pursuant to the GECMC 2007-C1 Pooling and Servicing Agreement, as the case may be, the Special Servicer shall coordinate with the 2007-C30 Special Servicer, the Morgan Stanley 2007-IQ14 Special Servicer and the GECMC 2007-C1 Special Servicer, as the case may be, with respect to any REO Extension on behalf of REMIC I.  Except for the preceding sentence, for purposes of this Section 3.16, “REO Property” does not include the Trust Fund’s beneficial interest in the Mortgaged Property securing each of the
2007-C30 Serviced Mortgage Loans, the Mortgaged Property securing the Morgan Stanley 2007-IQ14 Serviced Mortgaged Loan or the Mortgaged Property securing the GECMC 2007-C1 Serviced Mortgage Loan.


                    (b)          The Special Servicer shall segregate and hold all funds collected and received in connection with any REO Property separate and apart from its own funds and general assets.  If an REO Acquisition shall occur, the Special Servicer shall establish and maintain one or more accounts (collectively, the “REO Account”), held on behalf of the Trustee in trust for the benefit of the Certificateholders and, if applicable, the Companion Holder, as their interests shall appear, for the retention of revenues and other proceeds derived from each REO Property.  The REO Account shall be an Eligible Account.  The Special Servicer shall deposit, or cause to be deposited, in the REO Account, upon receipt, all REO Revenues, Insurance Proceeds and Liquidation Proceeds (net
of Liquidation Expenses) received in respect of an REO Property within 2 Business Days of receipt.  Funds in the REO Account may be invested in Permitted Investments in accordance with Section 3.06.  The Special Servicer shall be entitled to make withdrawals from the REO Account to pay itself, as additional servicing compensation in accordance with Section 3.11(d), interest and investment income earned in respect of amounts held in the REO Account as provided in Section 3.06(b) (but only to the extent of the Net Investment Earnings with respect to the REO Account for any Collection Period).  The Special Servicer shall give written notice to the Trustee and the Master Servicer of the location of the REO Account when first established and of the new location of the REO Account prior to any change thereof.


                    (c)          The Special Servicer shall withdraw from the REO Account funds necessary for the proper operation, management, maintenance and disposition of any REO Property, but only to the extent of amounts on deposit in the REO Account relating to such REO Property (including any monthly reserve or escrow amounts necessary to accumulate sufficient funds for taxes, insurance and anticipated capital expenditures (the “Impound Reserve”)).  On the last day of the related Collection Period, the Special Servicer shall withdraw from the REO Account and deposit into the Certificate Account or deliver to the Master Servicer or such other Person as may be directed by the Master Servicer (which shall deposit such amounts into the Certificate Account) the aggregate of all amounts
received in respect of each REO Property during the most recently ended Collection Period, net of any withdrawals made out of such amounts pursuant to the preceding sentence; provided that in addition to the Impound Reserve, the Special Servicer may retain in the REO Account such portion of proceeds and collections as may be necessary to maintain a reserve of sufficient funds for the proper operation, management and maintenance of the related REO Property (including, without limitation, the creation of a reasonable reserve for repairs, replacements and other related expenses).


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                    (d)          The Special Servicer shall keep and maintain separate records, on a property-by-property basis, for the purpose of accounting for all deposits to, and withdrawals from, the REO Account pursuant to Section 3.16(b) or (c).  The Special Servicer shall provide the Master Servicer any information with respect to the REO Account as is reasonably requested by the Master Servicer.


          Section 3.17     Management of REO Property.


                    (a)          Prior to the acquisition of title to a Mortgaged Property (other than, in each case, the Mortgaged Property relating to the 2007-C30 Serviced Mortgage Loans, the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan and the GECMC 2007-C1 Serviced Mortgage Loan), the Special Servicer shall review the operation of such Mortgaged Property and determine the nature of the income that would be derived from such property if it were acquired by the Trust Fund.  If the Special Servicer determines from such review in compliance with the Servicing Standard that in its good faith and reasonable judgment:


                                  (i)          None
of the income from Directly Operating such REO Property would be subject to tax
as “net income from foreclosure property” within the meaning of the
REMIC Provisions (such tax referred to herein as an “REO Tax”),
and the Special Servicer does not engage in any of the activities described in
the definition of “Directly Operate” that would cause the REO Property
to cease to qualify as “foreclosure property” within the meaning of
Section 860G(a)(8) of the Code, then such Mortgaged Property may be
Directly Operated by the Special Servicer as REO Property;


                                  (ii)         Directly
Operating such Mortgaged Property as an REO Property could result in income from
such property that would be subject to an REO Tax, but that a lease of such
property to another party to operate such property, or the performance of some
services by an Independent Contractor with respect to such property, or another
method of operating such property would not result in income subject to an REO
Tax, then the Special Servicer may (provided that in the good faith and
reasonable judgment of the Special Servicer, such alternative is commercially
feasible and would result in a greater net recovery on a present value basis
than earning income subject to an REO Tax) acquire such Mortgaged Property as
REO Property and so lease or manage such REO Property; or


                                  (iii)        It
is reasonable to believe that Directly Operating such property as REO Property
could result in income subject to an REO Tax and that such method of operation
is commercially feasible and would result in a greater net recovery on a present
value basis than leasing or other method of operating the REO Property that
would not incur an REO Tax, the Special Servicer shall deliver to the REMIC
Administrator, in writing, a proposed plan (the “Proposed
Plan”) to manage such property as REO Property.  Such plan shall
include potential sources of income, and to the extent commercially feasible,
estimates of the amount of income from each such source.  Within a
reasonable period of time after receipt of such plan, the REMIC Administrator
shall consult with the Special Servicer and shall advise the Special Servicer of
the REMIC Administrator’s federal income tax reporting position with
respect to the various sources 


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of income that the Trust Fund would derive under the Proposed Plan.  In addition, the REMIC Administrator shall (to the extent reasonably possible) advise the Special Servicer of the estimated amount of taxes that the Trust Fund would be required to pay with respect to each such source of income.  After receiving the information described in the two preceding sentences from the REMIC Administrator, the Special Servicer shall either (A) implement the Proposed Plan (after acquiring the respective Mortgaged Property as REO Property) or (B) manage such property in a manner that would not result in the imposition of an REO Tax on the income derived from such property.  All of the REMIC Administrator’s expenses (including any fees and expenses of counsel or other experts reasonably retained by it) incurred pursuant to this Section shall be reimbursed to it from the Trust Fund in accordance with Section 10.01(e).


                    The Special Servicer’s decision as to how each REO Property shall be managed shall be based on the Servicing Standard and in any case on the good faith and reasonable judgment of the Special Servicer as to which means would be in the best interest of the Certificateholders (or, if the REO Property was formerly a Mortgaged Property securing a Co-Lender Loan, the Certificateholders and the related Companion Holder (as a collective whole in accordance with the Servicing Standard, taking into account the subordinate nature of the Companion Loan, if applicable)) by maximizing (to the extent commercially feasible and consistent with Section 3.17(b)) the net after-tax REO Revenues received by the Trust Fund with respect to such property and, to the extent consistent with the foregoing, in the same manner as would prudent mortgage loan
servicers operating acquired mortgaged property comparable to the respective Mortgaged Property.  Both the Special Servicer and the REMIC Administrator may, at the expense of the Trust Fund payable pursuant to Section 3.05(a)(xv), consult with counsel.


                    (b)          If title to any REO Property (other than, in each case, the REO Property relating to the 2007-C30 Serviced Mortgage Loans, the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan and the GECMC 2007-C1 Serviced Mortgage Loan) is acquired, the Special Servicer shall manage, conserve and protect such REO Property for the benefit of the Certificateholders (or, if the REO Property was formerly a Mortgaged Property securing a Co-Lender Loan, the Certificateholders and the related Companion Holder (as a collective whole in accordance with the Servicing Standard, taking into account the subordinate nature of the Companion Loan, if applicable)) solely for the purpose of its prompt disposition and sale in a manner that does not and will not cause such REO Property to fail to qualify as
“foreclosure property” within the meaning of Section 860G(a)(8) of the Code or either result in the receipt by REMIC I of any “income from non-permitted assets” within the meaning of Section 860F(a)(2)(B) of the Code or result in an Adverse REMIC Event.  Subject to the foregoing, however, the Special Servicer shall have full power and authority to do any and all things in connection therewith as are consistent with the Servicing Standard and, consistent therewith, shall withdraw from the REO Account, to the extent of amounts on deposit therein with respect to any such REO Property, funds necessary for the proper management, maintenance and disposition of such REO Property, including without limitation:


                                  (i)          all insurance premiums due and payable in respect of such REO Property;


                                  (ii)         all real estate taxes and assessments in respect of such REO Property that may result in the imposition of a lien thereon;


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                                  (iii)        any ground rents in respect of such REO Property; and


                                  (iv)        all costs and expenses necessary to maintain, lease, sell, protect, manage and restore such REO Property.


                       To the extent that amounts on deposit in the REO Account in respect of any REO Property are insufficient for the purposes set forth in the preceding sentence with respect to such REO Property, the Master Servicer, subject to the second paragraph of Section 3.03(c), shall make Servicing Advances in such amounts as are necessary for such purposes unless (as evidenced by an Officer’s Certificate delivered to the Trustee) the Master Servicer would not make such advances if the Master Servicer owned such REO Property or the Master Servicer determines, in accordance with the Servicing Standard, that such payment would be a Nonrecoverable Advance; provided, however, that the Master Servicer may make any such Servicing Advance without regard to recoverability if it is a necessary fee or expense incurred in
connection with the defense or prosecution of legal proceedings.


                    (c)          Unless Section 3.17(a)(i) applies, the Special Servicer shall contract with any Independent Contractor (if required by the REMIC Provisions for the REO Property to remain classified as “foreclosure property” within the meaning of Section 860G(a)(8) of the Code) for the operation and management of any REO Property; provided that:


                                  (i)          the terms and conditions of any such contract may not be inconsistent herewith and shall reflect an agreement reached at arm’s length;


                                  (ii)         the fees of such Independent Contractor (which shall be expenses of the Trust Fund) shall be reasonable and customary in consideration of the nature and locality of the REO Property;


                                  (iii)        except as permitted under Section 3.17(a), any such contract shall require, or shall be administered to require, that the Independent Contractor, in a timely manner, pay all costs and expenses incurred in connection with the operation and management of such REO Property, including, without limitation, those listed in Section 3.17(b) above, and remit all related revenues collected (net of its fees and such costs and expenses) to the Special Servicer upon receipt;


                                  (iv)        none of the provisions of this Section 3.17(c) relating to any such contract or to actions taken through any such Independent Contractor shall be deemed to relieve the Special Servicer of any of its duties and obligations hereunder with respect to the operation and management of any such REO Property; and


                                  (v)         the Special Servicer shall be obligated with respect thereto to the same extent as if it alone were performing all duties and obligations in connection with the operation and management of such REO Property.


                    The Special Servicer shall be entitled to enter into any agreement with any Independent Contractor performing services for it related to its duties and obligations hereunder for indemnification of the Special Servicer by such Independent Contractor, and nothing in this Agreement shall be deemed to limit or modify such indemnification.  No agreement entered into pursuant to this Section 3.17(c) shall be deemed a Sub-Servicing Agreement for purposes of Section 3.22.


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                    (d)         Without
limiting the generality of the foregoing, the Special Servicer shall
not:


                                  (i)          permit the Trust Fund to enter into, renew or extend any New Lease with respect to any REO Property (other than, in each case, the REO Property relating to the 2007-C30 Serviced Mortgage Loans, the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan and the GECMC 2007-C1 Serviced Mortgage Loan), if the New Lease by its terms will give rise to any income that does not constitute Rents from Real Property;


                                  (ii)         permit any amount to be received or accrued under any New Lease other than amounts that will constitute Rents from Real Property;


                                  (iii)        authorize or permit any construction on any REO Property (other than, in each case, the REO Property relating to the 2007-C30 Serviced Mortgage Loans, the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan and the GECMC 2007-C1 Serviced Mortgage Loan), other than the repair or maintenance thereof or the completion of a building or other improvement thereon, but only to the extent provided Section 856(e)(4)(B) of the Code; or


                                  (iv)        except as otherwise provided for in Section 3.17(a)(i) and (a)(ii) above, Directly Operate, or allow any other Person, other than an Independent Contractor, to Directly Operate, any REO Property (other than, in each case, the REO Property relating to the 2007-C30 Serviced Mortgage Loans, the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan and the GECMC 2007-C1 Serviced Mortgage Loan) on any date more than 90 days after its Acquisition Date;



unless, in any such case, the Special Servicer has obtained an Opinion of
Counsel (the cost of which shall be paid by the Master Servicer as a Servicing
Advance unless nonrecoverable, in which case it shall be paid by the Master
Servicer as an Additional Trust Fund Expense from amounts on deposit in the
Certificate Account) to the effect that such action will not cause such REO
Property to fail to qualify as “foreclosure property” within the
meaning of Section 860G(a)(8) of the Code at any time that it is held by
the Trust Fund, in which case the Special Servicer may take such actions as are
specified in such Opinion of Counsel.  Except as limited above in this
Section 3.17 and by this Section 3.17(d), the Special Servicer shall
be permitted to cause the Trust Fund to earn “net income from foreclosure
property”, subject to the Servicing Standard.


          Section 3.18    Resolution of Defaulted Mortgage Loans and REO Properties.


                    (a)          The Master Servicer, the Special Servicer or the Trustee may sell or purchase, or permit the sale or purchase of, a Mortgage Loan (other than the 2007-C30 Serviced Mortgage Loans, the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan and the GECMC 2007-C1 Serviced Mortgage Loan) or an REO Property (other than, in each case, the REO Property relating to the 2007-C30 Serviced Mortgage Loans, the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan and the GECMC 2007-C1 Serviced Mortgage Loan) only on the terms and subject to the conditions set forth in this Section 3.18 or as otherwise expressly provided in or contemplated by Sections 2.03 and 9.01.


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                    (b)          Within 60 days after a Mortgage Loan (other than the 2007-C30 Serviced Mortgage Loans, the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan and the GECMC 2007-C1 Serviced Mortgage Loan) becomes a Defaulted Mortgage Loan, the Special Servicer shall determine the fair value of such Mortgage Loan in accordance with the Servicing Standard; provided, however, that such determination shall be made without taking into account any effect the restrictions on the sale of such Mortgage Loan contained herein may have on the value of such Defaulted Mortgage Loan; provided, further, that the Special Servicer shall use reasonable efforts promptly to obtain an Appraisal with respect to the related Mortgaged Property unless it has an Appraisal that is less than 12 months old


and has no actual knowledge of, or notice of, any event which in the Special Servicer’s judgment would materially affect the validity of such Appraisal.  The Special Servicer shall make its fair value determination as soon as reasonably practicable (but in any event within 30 days) after its receipt of such new Appraisal, if applicable.  The Special Servicer is permitted to change, from time to time, its determination of the fair value of a Defaulted Mortgage Loan based upon changed circumstances, new information or otherwise, in accordance with the Servicing Standard; provided, however, the Special Servicer shall update its determination of the fair value at least once every 90 days.  The Special Servicer shall notify the Trustee, the Master Servicer, each Rating Agency and the Majority Subordinate Certificateholder promptly upon its fair value determination and any adjustment thereto.  In determining the fair value of any Defaulted Mortgage Loan, the Special
Servicer shall take into account, among other factors, the period and amount of the delinquency on such Mortgage Loan, the occupancy level and physical condition of the related Mortgaged Property, the state of the local economy in the area where the Mortgaged Property is located, and the time and expense associated with a purchaser’s foreclosing on the related Mortgaged Property.  In addition, the Special Servicer shall refer to all other relevant information obtained by it or otherwise contained in the Mortgage Loan File; provided that the Special Servicer shall take account of any change in circumstances regarding the related Mortgaged Property known to the Special Servicer that has occurred subsequent to, and that would, in the Special Servicer’s reasonable judgment, materially affect the value of the related Mortgaged Property reflected in the most recent related Appraisal.  Furthermore, the Special Servicer shall consider all available objective third-party information
obtained from generally available sources, as well as information obtained from vendors providing real estate services to the Special Servicer, concerning the market for distressed real estate loans and the real estate market for the subject property type in the area where the related Mortgaged Property is located.  The Special Servicer may conclusively rely on the opinion and reports of Independent third parties in making such determination.


                    (c)          Subject to the terms set forth in Section 2.03, in the event a Mortgage Loan (other than the 2007-C30 Serviced Mortgage Loans, the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan and the GECMC 2007-C1 Serviced Mortgage Loan) becomes a Defaulted Mortgage Loan, each of the Majority Subordinate Certificateholder and the Special Servicer shall have an assignable option (a “Purchase Option”) to purchase such Defaulted Mortgage Loan from the Trust Fund at a price (the “Option Price”) equal to (i) the Purchase Price, if the Special Servicer has not yet determined the fair value of the Defaulted Mortgage Loan, or (ii) the fair value of the Defaulted Mortgage Loan as determined by the Special Servicer 


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in the manner described in Section 3.18(b) and in accordance with the Servicing Standard, if the Special Servicer has made such fair value determination.  Any holder of a Purchase Option may sell, transfer, assign or otherwise convey its Purchase Option with respect to any Defaulted Mortgage Loan to any party other than the related Mortgagor or an Affiliate of the related Mortgagor under the Mortgage Loan at any time after the related Mortgage Loan becomes a Defaulted Mortgage Loan.  The transferor of any Purchase Option shall notify the Trustee and the Master Servicer of such transfer and such notice shall include the transferee’s name, address, telephone number, facsimile number and appropriate contact person(s) and shall be acknowledged in writing by the transferee.  Notwithstanding the foregoing, and subject to Section 3.18(d) of this Agreement, the Special Servicer shall have the right to exercise its Purchase Option prior to any


exercise of the Purchase Option by any other holder of a Purchase Option; provided, however, if the Purchase Option is not exercised by the Special Servicer or any assignee thereof within 60 days of a Mortgage Loan (other than the 2007-C30 Serviced Mortgage Loans, the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan and the GECMC 2007-C1 Serviced Mortgage Loan) becoming a Defaulted Mortgage Loan, then the Majority Subordinate Certificateholder shall have the right to exercise its Purchase Option prior to any exercise by the Special Servicer and the Majority Subordinate Certificateholder or its assignee may exercise such Purchase Option at any time during the fifteen day period immediately following the expiration of such 60-day period.  Following the expiration of such fifteen day period, the Special Servicer shall again have the right to exercise its Purchase Option prior to any exercise of the Purchase Option by the Majority Subordinate Certificateholder.  If not exercised
earlier, the Purchase Option with respect to any Defaulted Mortgage Loan will automatically terminate (i) once the related Defaulted Mortgage Loan is no longer a Defaulted Mortgage Loan; provided, however, that, if such Mortgage Loan subsequently becomes a Defaulted Mortgage Loan, the related Purchase Option shall again be exercisable, (ii) upon the acquisition, by or on behalf of the Trust Fund, of title to the related Mortgaged Property through foreclosure or deed in lieu of foreclosure or (iii) the modification or pay-off, in full or at a discount, of such Defaulted Mortgage Loan in connection with a workout.


                    (d)          Notwithstanding the provisions of Section 3.18(c), Section 3.18(g) or Section 3.18(h), pursuant to the terms of the Intercreditor Agreements, a Companion Holder will have the right to purchase the related Co-Lender Loan or related REO Property (other than, in each case, the REO Property relating to the 2007-C30 Serviced Mortgage Loans, the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan and the GECMC 2007-C1 Serviced Mortgage Loan) in certain circumstances.  Such right of the related Companion Holder shall have priority over any provision described in Section 3.18(c), Section 3.18(g) or Section 3.18(h).  If the Co-Lender Loan or REO Property (other than, in each case, the REO Property relating to the 2007-C30 Serviced Mortgage Loans, the
Morgan Stanley 2007-IQ14 Serviced Mortgage Loan and the GECMC 2007-C1 Serviced Mortgage Loan) is purchased by the related Companion Holder, repurchased by the applicable Mortgage Loan Seller or otherwise ceases to be subject to this Agreement, the related Companion Loan will no longer be subject to this Agreement.  Neither the Trustee nor the Trust Fund shall acquire a Companion Loan; provided, however, the Master Servicer or an affiliate may own or acquire the Companion Loans.  With respect to each Loan Pair, the related Companion Holder shall be entitled to exercise any cure rights given to it under the related Intercreditor Agreement, in each case subject to any conditions or restrictions described in or incorporated by reference into such sections.


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                    (e)          Upon receipt of notice from the Special Servicer indicating that a Mortgage Loan (other than the 2007-C30 Serviced Mortgage Loans, the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan and the GECMC 2007-C1 Serviced Mortgage Loan) has become a Defaulted Mortgage Loan, the holder (whether the original grantee of such option or any subsequent transferee) of the Purchase Option may exercise the Purchase Option by providing the Master Servicer and the Trustee written notice thereof (the “Purchase Option Notice”), in the form of Exhibit M, which notice shall identify the Person that, on its own or through an Affiliate, will acquire the related Mortgage Loan upon closing and shall specify a cash exercise price at least equal to the Option Price.  The Purchase
Option Notice shall be delivered in the manner specified in Section 11.05.  The exercise of any Purchase Option pursuant to this Section 3.18(e) shall be irrevocable.


                    (f)          If the Special Servicer or the Majority Subordinate Certificateholder, or any of their respective Affiliates, is identified in the Purchase Option Notice as the Person expected to acquire the related Mortgage Loan, the Trustee shall determine as soon as reasonably practicable (and, in any event, within 30 days) after the Trustee has received the written notice, whether the Option Price represents fair value for the Defaulted Mortgage Loan; provided that if the Special Servicer is then in the process of obtaining a new Appraisal with respect to the related Mortgaged Property, then the Trustee shall, in accordance with its good faith and reasonable judgment, make its fair value determination with respect to such Mortgage Loan as soon as reasonably practicable (but in any event


within 30 days) after the Trustee’s receipt of such new Appraisal.  The Trustee may rely on the opinion and reports of Independent third parties in making such determination; provided that the Trustee may rely on the most current Appraisal obtained for the related Mortgaged Property pursuant to this Agreement.  In determining the fair value of any Defaulted Mortgage Loan, the Trustee shall take into account, and any Independent third party shall be instructed to take into account, among other factors, the period and amount of the delinquency on such Mortgage Loan, the occupancy level and physical condition of the related Mortgaged Property, the state of the local economy in the area where the Mortgaged Property is located, and the time and expense associated with a purchaser’s foreclosing on the related Mortgaged Property.  In addition, the Trustee shall refer, and any Independent third party shall be instructed to refer, to all relevant information delivered to it by
the Special Servicer or otherwise contained in the Mortgage Loan File.  Furthermore, the Trustee shall consider, and any Independent third party shall be instructed to consider, all available objective third-party information obtained from generally available sources, concerning the market for distressed real estate loans and the real estate market for the subject property type in the area where the related Mortgaged Property is located.  The reasonable costs of all appraisals, inspection reports and broker opinions of value, reasonably incurred by the Trustee or any such third party pursuant to this subsection shall be advanced by the Master Servicer and shall constitute, and be reimbursable as, Servicing Advances (or if such Advance is deemed to be a Nonrecoverable Advance such costs shall be reimbursable as Additional Trust Fund Expenses from the Certificate Account pursuant to Section 3.05(a)).  The other parties to this Agreement shall cooperate with all reasonable requests
for information.


                    (g)          Unless
and until the Purchase Option with respect to a Defaulted Mortgage Loan is
exercised, the Special Servicer shall pursue such other resolution strategies
available hereunder with respect to such Defaulted Mortgage Loan, including,
without limitation, workout and foreclosure, as the Special Servicer may deem
appropriate consistent with the 


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Servicing Standard; provided,
however, the Special Servicer will not be permitted to sell the Defaulted
Mortgage Loan other than in connection with the exercise of the related Purchase
Option.




                    (h)          In the event that title to any REO Property (other than, in each case, the REO Property relating to the 2007-C30 Serviced Mortgage Loans, the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan and the GECMC 2007-C1 Serviced Mortgage Loan) is acquired by the Trust Fund in respect of any Defaulted Mortgage Loan, the deed or certificate of sale shall be issued to the Trust Fund, the Trustee or to its nominees.  The Special Servicer, after notice to the Controlling Class Representative, shall use its reasonable best efforts to sell any such REO Property as soon as practicable in accordance with Section 3.16(a).  If the Special Servicer on behalf of the Trustee has not received an REO Extension or an Opinion of Counsel described in Section 3.16(a) and the Special Servicer
is not able to sell such REO Property within the period specified above, or if an REO Extension has been granted and the Special Servicer is unable to sell such REO Property within the extended time period, the Special Servicer shall, after consultation with the Controlling Class Representative, before the end of such period or extended period, as the case may be, auction the REO Property to the highest bidder (which may be the Special Servicer) in accordance with the Servicing Standard.  The Special Servicer shall give the Controlling Class Representative, the Master Servicer and the Trustee not less than 5 days’ prior written notice of its intention to sell any REO Property, and in respect of such sale, the Special Servicer shall offer such REO Property in a commercially reasonable manner.  Where any Interested Person is among those bidding with respect to an REO Property, the Special Servicer shall require that all bids be submitted in writing and be accompanied by a refundable
deposit of cash in an amount equal to 5% of the bid amount.  No Interested Person shall be permitted to purchase the REO Property at a price less than the Purchase Price; provided, further, that, if the Special Servicer intends to bid on any REO Property, (i) the Special Servicer shall notify the Trustee of such intent, (ii) the Trustee shall promptly obtain, at the expense of the Trust Fund, an Appraisal of such REO Property and (iii) the Special Servicer shall not bid less than the greater of (a) the fair market value set forth in such Appraisal or (b) the Purchase Price.


                    (i)          Subject to the REMIC Provisions, the Special Servicer shall act on behalf of the Trust Fund in negotiating and taking any other action necessary or appropriate in connection with the sale of any REO Property (other than, in each case, the REO Property relating to the 2007-C30 Serviced Mortgage Loans, the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan and the GECMC 2007-C1 Serviced Mortgage Loan) or the exercise of a Purchase Option, including the collection of all amounts payable in connection therewith.  Notwithstanding anything to the contrary herein, neither the Trustee, in its individual capacity, nor any of its Affiliates may bid for or purchase any REO Property (other than, in each case, the REO Property relating to the 2007-C30 Serviced Mortgage Loans, the Morgan
Stanley 2007-IQ14 Serviced Mortgage Loan and the GECMC 2007-C1 Serviced Mortgage Loan) or purchase any Defaulted Mortgage Loan.  Any sale of a Defaulted Mortgage Loan (pursuant to a Purchase Option) or an REO Property shall be without recourse to, or representation or warranty by, the Trustee, the Depositor, the Special Servicer, the Master Servicer, any Mortgage Loan Seller or the Trust Fund.  Notwithstanding the foregoing, nothing herein shall limit the liability of the Master Servicer, the Special Servicer or the Trustee to the Trust Fund and the Certificateholders for failure to perform its duties in accordance herewith.  None of the Special Servicer, the Master Servicer, the Depositor or the Trustee shall have any liability to the Trust Fund or any Certificateholder with respect to the price at which a Defaulted Mortgage Loan is sold if the sale is consummated in accordance with the terms of this Agreement.


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                    (j)          Upon exercise of a Purchase Option, the holder of such Purchase Option shall be required to pay the purchase price specified in its Purchase Option Notice to the Special Servicer within 10 Business Days of exercising its Purchase Option.  The proceeds of any sale of a Defaulted Mortgage Loan, after deduction of the expenses of such sale incurred in connection therewith, shall be remitted by the Special Servicer to the Master Servicer within 1 Business Day of receipt for deposit into the Certificate Account.  The Special Servicer shall immediately notify the Trustee upon the holder of the effective Purchase Option’s failure to remit the purchase price specified in its Purchase Option Notice pursuant to this Section 3.18(j).  Thereafter, the Special Servicer
shall notify each holder of a Purchase Option of such failure and such holder of a Purchase Option may then exercise its Purchase Option in accordance with this Section 3.18.


                    (k)          Notwithstanding anything herein to the contrary, the Special Servicer shall not take or refrain from taking any action pursuant to instructions from the Controlling Class Representative that would cause it to violate applicable law or any term or provision of this Agreement, including the REMIC Provisions and the Servicing Standard.


                    (l)          The amount paid for a Defaulted Mortgage Loan (other than the Non-Serviced Mortgage Loans) or related REO Property (other than, in each case, the REO Property relating to the 2007-C30 Serviced Mortgage Loans, the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan and the GECMC 2007-C1 Serviced Mortgage Loan) purchased under this Agreement shall be deposited into the Certificate Account, or if applicable, applied in accordance with the related Intercreditor Agreement (except that portion of any purchase price constituting Gain-on-Sale Proceeds which shall be deposited in the Gain-on-Sale Reserve Account).  Upon receipt of an Officer’s Certificate from the Master Servicer to the effect that such deposit has been made, the Trustee shall execute and deliver such instruments of
transfer or assignment, in each case without recourse, as shall be provided to it and are reasonably necessary to vest in the purchaser of such Defaulted Mortgage Loan or related REO Property ownership of the Defaulted Mortgage Loan or related REO Property.  The Custodian, upon receipt of a Request for Release, shall release or cause to be released to the Master Servicer or Special Servicer the related Mortgage File.  In connection with any such purchase, the Special Servicer shall deliver the related Servicing File to the purchaser of a Defaulted Mortgage Loan or related REO Property.


                    (m)          Notwithstanding the foregoing, each mezzanine lender will have the right to purchase the related Mortgage Loan and cure defaults relating thereto as set forth in the related mezzanine intercreditor agreement.


                    (n)          With respect to the 666 Fifth Avenue Loan, the parties hereto agree and acknowledge that, pursuant to the GECMC 2007-C1 Pooling and Servicing Agreement, such Mortgage Loan may be subject to a fair value purchase option if the 666 Fifth Avenue Pari Passu Companion Loans that were deposited into the trust created under the GECMC 2007-C1 Pooling and Servicing Agreement become defaulted mortgage loans (in accordance with the terms of the GECMC 2007-C1 Pooling and Servicing Agreement).  Upon receipt of notice that the 666 Fifth Avenue Whole Loan has become a defaulted mortgage loan (in accordance with the GECMC 


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2007-C1 Pooling and Servicing Agreement), the holders of a Purchase Option shall have the right to purchase the related Mortgage Loan from the Trust at a purchase price determined in accordance with Section 3.18 of the GECMC 2007-C1 Pooling and Servicing Agreement (as set forth therein). Such option shall be exercised in accordance with and shall otherwise be on the same terms as the terms of Section 3.18 of the GECMC 2007-C1 Pooling and Servicing Agreement.


          Section 3.19     Additional Obligations of Master Servicer and Special Servicer.


                    (a)          The Master Servicer shall deposit in the Certificate Account on each P&I Advance Date, without any right of reimbursement therefor with respect to each Mortgage Loan (other than a Specially Serviced Mortgage Loan and other than any Mortgage Loan for which the Special Servicer has waived a prepayment restriction) that was subject to a voluntary Principal Prepayment during the most recently ended Collection Period creating a Prepayment Interest Shortfall, an amount equal to the lesser of (i) the amount of the related Prepayment Interest Shortfall and (ii) the sum of (A) the Master Servicing Fee (calculated for this purpose only at a rate of 0.0100% per annum) received by the Master Servicer during such Collection Period on such Mortgage Loan and
(B) investment income earned by the Master Servicer on the related Principal Prepayment during the most recently ended Collection Period; provided, however, to the extent any such Prepayment Interest Shortfall is the result of the Master Servicer’s failure to enforce the applicable Mortgage Loan documents the amount in clause (A) shall include the entire Master Servicing Fee on the applicable Mortgage Loan for such Collection Period.


                    (b)          The Master Servicer shall, as to each Mortgage Loan which is secured by the interest of the related Mortgagor under a Ground Lease, promptly (and in any event within 60 days of the Closing Date) notify the related ground lessor in writing of the transfer of such Mortgage Loan to the Trust Fund pursuant to this Agreement and inform such ground lessor that any notices of default under the related Ground Lease should thereafter be forwarded to the Master Servicer.


                    (c)          The Master Servicer shall provide to each Companion Holder any reports or notices required to be delivered to such Companion Holder pursuant to the related Intercreditor Agreement.


          Section 3.20     Modifications, Waivers, Amendments and Consents.


                    (a)          Subject to Sections 3.20(b) through 3.20(n) below and further subject to Sections 3.08(b) and 6.11 and further subject to any applicable intercreditor agreement or similar agreement, the Master Servicer (to the extent provided in Section 3.02(a) and Section 3.20(i) below) and the Special Servicer may, on behalf of the Trustee, agree to any modification, waiver or amendment of any term of any Mortgage Loan (including, subject to Section 3.20(i), the lease reviews and lease consents related thereto) without the consent of the Trustee or any Certificateholder.


                    (b)          All modifications, waivers or amendments of any Mortgage Loan (including, subject to Section 3.20(i), the lease reviews and lease consents related thereto) shall be in writing and shall be considered and effected in accordance with the Servicing Standard;


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provided, however, that, neither the Master Servicer nor the Special Servicer, as applicable, shall make or permit or consent to, as applicable, any modification, waiver or amendment of any term of any Mortgage Loan not otherwise permitted by this Section 3.20 that would constitute a “significant modification” of such Mortgage Loan within the meaning of Treasury Regulations Section 1.860G-2(b).


                    (c)          Except as provided in 3.20(d) and the last sentence of Section 3.02(a), the Special Servicer, on behalf of the Trustee, shall not agree or consent to any modification, waiver or amendment of any term of any Mortgage Loan that would:


                                   (i)         affect the amount or timing of any related payment of principal, interest or other amount (including Prepayment Premiums or Yield Maintenance Charges, but excluding Penalty Interest and amounts payable as additional servicing compensation) payable thereunder;


                                   (ii)        affect the obligation of the related Mortgagor to pay a Prepayment Premium or Yield Maintenance Charge or permit a Principal Prepayment during any period in which the related Mortgage Note prohibits Principal Prepayments;


                                   (iii)       except as expressly contemplated by the related Mortgage or pursuant to Section 3.09(d), result in a release of the lien of the Mortgage on any material portion of the related Mortgaged Property without a corresponding Principal Prepayment in an amount not less than the fair market value (as determined by an appraisal by an Independent Appraiser delivered to the Special Servicer at the expense of the related Mortgagor and upon which the Special Servicer may conclusively rely) of the property to be released other than in connection with a taking of all or part of the related Mortgaged Property or REO Property for not less than fair market value by exercise of the power of eminent domain or condemnation or
casualty or hazard losses with respect to such Mortgaged Property or REO Property;


                                   (iv)       if such Mortgage Loan is equal to or in excess of 5% of the then aggregate current principal balances of all Mortgage Loans or $35,000,000 (or, with respect to Moody’s, $25,000,000), or is one of the ten largest Mortgage Loans by Stated Principal Balance as of such date, permit the transfer or transfers of (A) the related Mortgaged Property or any interest therein or (B) equity interests in the Mortgagor or any equity owner of the Mortgagor that would result, in the aggregate during the term of the related Mortgage Loan, in a transfer greater than 49% of the total interest in the Mortgagor and/or any equity owner of the Mortgagor or a transfer of voting control in the Mortgagor or an equity
owner of the Mortgagor without the prior written confirmation from each Rating Agency that such changes will not result in the qualification, downgrade or withdrawal to the ratings then assigned to the Certificates;


                                   (v)        allow any additional lien on the related Mortgaged Property if such Mortgage Loan is equal to or in excess of 2% of the then aggregate current principal balances of the Mortgage Loans or $20,000,000, is one of the ten largest Mortgage Loans by Stated Principal Balance as of such date, or with respect to S&P only, has an aggregate Loan-to-Value Ratio that is equal to or greater than 85% or has an aggregate Debt Service Coverage Ratio that is less than 1.20x, without the prior written confirmation from each Rating Agency (as applicable) that such change will not result in the qualification, downgrade or withdrawal or the ratings then assigned to the Certificates; or


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                                   (vi)       in the reasonable, good faith judgment of the Special Servicer, otherwise materially impair the security for such Mortgage Loan or reduce the likelihood of timely payment of amounts due thereon.


                    (d)          Notwithstanding Section 3.20(c), but subject to the third paragraph of this Section 3.20(d), and the rights of the Controlling Class Representative and the rights (if any) of a Companion Holder (other than the holders of the Non-Serviced Companion Loans) pursuant to the related Intercreditor Agreement, the Special Servicer may (i) reduce the amounts owing under any Specially Serviced Mortgage Loan by forgiving principal, accrued interest or any Prepayment Premium or Yield Maintenance Charge, (ii) reduce the amount of the Periodic Payment on any Specially Serviced Mortgage Loan, including by way of a reduction in the related Mortgage Rate, (iii) forbear in the enforcement of any right granted under any Mortgage Note or Mortgage relating to a Specially
Serviced Mortgage Loan, (iv) extend the maturity date of any Specially Serviced Mortgage Loan, or (v) accept a Principal Prepayment on any Specially Serviced Mortgage Loan during any Lockout Period; provided that (A) the related Mortgagor is in default with respect to the Specially Serviced Mortgage Loan or, in the reasonable, good faith judgment of the Special Servicer, such default is reasonably foreseeable, and (B) in the reasonable, good faith judgment of the Special Servicer, such modification would increase the recovery on the Mortgage Loan to Certificateholders on a net present value basis (the relevant discounting of amounts that will be distributable to Certificateholders to be performed at the related Net Mortgage Rate).  In the case of every other modification, waiver or consent, the Special Servicer shall determine and may rely on an Opinion of Counsel (which Opinion of Counsel shall be an expense of the Trust Fund to the extent not paid by the related
Mortgagor) to the effect that such modification, waiver or amendment would not both (1) effect an exchange or reissuance of the Mortgage Loan under Treasury Regulations Section 1.860G-2(b) of the Code and (2) cause either of REMIC I or REMIC II to fail to qualify as a REMIC under the Code or result in the imposition of any tax on “prohibited transactions” or “contributions” after the Startup Day under the REMIC Provisions.


                    In addition, notwithstanding Section 3.20(c), but subject to the third paragraph of this Section 3.20(d), the Special Servicer may extend the date on which any Balloon Payment is scheduled to be due in respect of a Specially Serviced Mortgage Loan if the conditions set forth in the proviso to the prior paragraph are satisfied and the Special Servicer has obtained an Appraisal of the related Mortgaged Property, in connection with such extension, which Appraisal supports the determination of the Special Servicer contemplated by clause (B) of the proviso to the immediately preceding paragraph.


                    In no event will the Special Servicer (i) extend the maturity date of a Mortgage Loan beyond a date that is two years prior to the Rated Final Distribution Date, (ii) reduce the Mortgage Rate of a Mortgage Loan to less than the lesser of (A) the original Mortgage Rate of such Mortgage Loan, (B) the highest Pass-Through Rate of any Class of Certificates (other than the Class IO Certificates) then outstanding and (C) a rate below the then prevailing interest rate for comparable loans, as determined by the Special Servicer, (iii) if the Mortgage Loan is secured by a Ground Lease (and not by the corresponding fee simple interest), extend the 


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maturity date of such Mortgage Loan beyond a date which is less than 20 years prior to the expiration of the term of such Ground Lease; (iv) defer interest due on any Mortgage Loan in excess of 10% of the Stated Principal Balance of such Mortgage Loan or defer the collection of interest on any Mortgage Loan without accruing interest on such deferred interest at a rate at least equal to the Mortgage Rate of such Mortgage Loan.


                    The determination of the Special Servicer contemplated by clause (B) of the proviso to the first paragraph of this Section 3.20(d) shall be evidenced by an Officer’s Certificate to such effect delivered to the Trustee and the Master Servicer and describing in reasonable detail the basis for the Special Servicer’s determination.  The Special Servicer shall append to such Officer’s Certificate any information including but not limited to income and expense statements, rent rolls, property inspection reports and appraisals that support such determination.


                    (e)          Any payment of interest that is deferred pursuant to any modification, waiver or amendment permitted hereunder, shall not, for purposes hereof, including, without limitation, calculating monthly distributions to Certificateholders, be added to the unpaid principal balance or Stated Principal Balance of the related Mortgage Loan, notwithstanding that the terms of such modification, waiver or amendment so permit.  The foregoing shall in no way limit the Special Servicer’s ability to charge and collect from the Mortgagor costs otherwise collectible under the terms of the related Mortgage Note and this Agreement together with interest thereon.


                    (f)          The Special Servicer or, with respect to clause (i) below, the Master Servicer may, as a condition to granting any request by a Mortgagor for consent, modification, waiver or indulgence or any other matter or thing, the granting of which is within its discretion pursuant to the terms of the instruments evidencing or securing the related Mortgage Loan and is permitted by the terms of this Agreement, require that such Mortgagor pay to it (i) as additional servicing compensation, a reasonable or customary fee for the additional services performed in connection with such request; provided such fee would not itself be a “significant modification” pursuant to Treasury Regulations Section 1.1001-3(e)(2) and (ii) any related costs and expenses
incurred by it.  In no event shall the Master Servicer or the Special Servicer be entitled to payment for such fees or expenses unless such payment is collected from the related Mortgagor.


                    (g)          The Special Servicer shall notify the Master Servicer, any related Sub-Servicers, the Trustee, the Controlling Class Representative, the Rating Agencies and with respect to any Co-Lender Loan, the related Companion Holder, in writing, of any material modification, waiver or amendment of any term of any Mortgage Loan (including fees charged the Mortgagor) and the date thereof, and shall deliver to the Custodian for deposit in the related Mortgage File, an original counterpart of the agreement relating to such modification, waiver or amendment, promptly (and in any event within ten Business Days) following the execution thereof.  Copies of each agreement whereby any such modification, waiver or amendment of any term of any Mortgage Loan is effected shall be made available for
review upon prior request during normal business hours at the offices of the Special Servicer pursuant to Section 3.15 hereof.


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                    (h)          The Master Servicer shall not permit defeasance of any Mortgage Loan to the extent inconsistent with the terms of such Mortgage Loan.  Unless and to the extent the Master Servicer is precluded from preventing such defeasance by the related Mortgage Loan documents or otherwise (provided that the Master Servicer shall not allow such defeasance to cause either of REMIC I or REMIC II created hereunder to fail to qualify as a REMIC; provided, further, the Master Servicer may rely on an Opinion of Counsel as provided for in (ii) below), the Master Servicer will not permit defeasance of any Mortgage Loan, unless:  (i) the defeasance collateral consists of non-callable “government securities” within the meaning of the Investment
Company Act of 1940, (ii) the Master Servicer has determined that the defeasance will not result in an Adverse REMIC Event (provided that the Master Servicer shall be entitled to rely conclusively on an Opinion of Counsel to that effect), (iii) the Master Servicer has notified the Rating Agencies, (iv) to the extent the defeasance of the Mortgage Loan is required by the then current applicable Rating Agency criteria to be reviewed by a Rating Agency, such Rating Agency has confirmed that such defeasance will not result in the qualification, downgrade or withdrawal of the rating then assigned to any Class of Certificates to which a rating has been assigned by such Rating Agency, (provided that no confirmation from S&P (or Moody’s with respect to (i) below) shall be required if the Mortgage Loan being defeased, together with all Mortgage Loans cross-collateralized with such Mortgage Loan, (i) is not one of the ten (10) largest Mortgage Loans (or
cross-collateralized groups of Mortgage Loans) by Stated Principal Balance in the Trust Fund, and (ii) has a Stated Principal Balance at the time of the defeasance that is less than $20,000,000 and less than 5% of the aggregate Stated Principal Balance at the time of the defeasance of the Mortgage Loans and the Master Servicer shall have delivered a Defeasance Certificate substantially in the form of Exhibit N hereto), (v) the Master Servicer has requested and received from the related Mortgagor (A) an Opinion of Counsel generally to the effect that the Trustee will have a perfected, first priority security interest in such defeasance collateral and (B) written confirmation from a firm of Independent accountants stating that payments made on such defeasance collateral in accordance with the terms thereof will be sufficient to pay the subject Mortgage Loan in full on or before its Stated Maturity Date and in accordance with the Periodic Payment (or, in the case of an ARD
Loan, on or before its Anticipated Repayment Date) and to timely pay each Periodic Payment scheduled to be due on or prior thereto but after the defeasance and (vi) a single purpose entity (as defined below) is designated to assume the Mortgage Loan and own the defeasance collateral; provided that if under the terms of the related Mortgage Loan documents, the related Mortgagor delivers cash to purchase the defeasance collateral rather than the defeasance collateral itself, the Master Servicer shall purchase the U.S. government obligations contemplated by the related Mortgage Loan documents on behalf of the related Mortgagor.  Any customary and reasonable out-of-pocket expense incurred by the Master Servicer pursuant to this Section 3.20(h) shall be paid by the Mortgagor of the defeased Mortgage Loan pursuant to the related Mortgage, Mortgage Note or other pertinent document.  Notwithstanding the foregoing, if at any time, a court with jurisdiction in the matter shall hold
that the related Mortgagor may obtain a release of the subject Mortgaged Property but is not obligated to deliver the full amount of the defeasance collateral contemplated by the related Mortgage Loan documents (or cash sufficient to purchase such defeasance collateral), then the Master Servicer shall (i) if consistent with the related Mortgage Loan documents, refuse to allow the defeasance of the Mortgage Loan or (ii) if the Master Servicer cannot so refuse and if the related Mortgagor has delivered cash to purchase the defeasance collateral, the Master Servicer shall either (A) buy such defeasance collateral or (B) prepay the 


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Mortgage Loan, in either case, in accordance with the Servicing Standard.  For purposes of this paragraph, a “single purpose entity” shall mean a Person, other than an individual, whose organizational documents provide as follows:  it is formed solely for the purpose of owning and pledging Defeasance Collateral related to one or more of the Mortgage Loans; it may not engage in any business unrelated to such Defeasance Collateral and the financing thereof; it does not have and may not own any assets other than those related to its interest in the Defeasance Collateral or the financing thereof and may not incur any indebtedness other than as permitted by the related Mortgage or Mortgages; it shall maintain its own books, records and accounts, in each case which are separate and apart from the books, records and accounts of any other person; it shall hold regular meetings, as appropriate, to conduct its business, and shall observe all entity-level


formalities and record keeping; it shall conduct business in its own name and use separate stationery, invoices and checks; it may not guarantee or assume the debts or obligations of any other person other than in connection with the defeasance of a Mortgage Loan; it shall not commingle its assets or funds with those of any other person; it shall pay its obligations and expenses from its own funds and allocate and charge reasonably and fairly any common employees or overhead shared with affiliates; it shall prepare separate tax returns and financial statements or, if part of a consolidated group, shall be shown as a separate member of such group; it shall transact business with affiliates on an arm’s length basis pursuant to written agreements; and it shall hold itself out as being a legal entity, separate and apart from any other person.  The single purpose entity organizational documents shall provide that any dissolution and winding up or insolvency filing for such entity requires the
unanimous consent of all partners or members, as applicable, and that such documents may not be amended with respect to the single purpose entity requirements during the term of the Mortgage Loan.


                    (i)          For any Mortgage Loan (other than a Specially Serviced Mortgage Loan or the Non-Serviced Mortgage Loans) and subject to the rights of the Special Servicer set forth in this Section 3.20, the Master Servicer, without the consent of the Special Servicer or the Controlling Class Representative, as applicable, shall be responsible for any request by a Mortgagor for the consent of the mortgagee for a modification, waiver or amendment of any term with respect to:


                                  (i)          approving routine leasing activity (including any subordination, standstill and attornment agreements) with respect to any lease for less than the lesser of (a) 20,000 square feet or (b) 20% of the related Mortgaged Property;


                                  (ii)         approving a change of the property manager at the request of the related Mortgagor; provided that (A) the successor property manager is not affiliated with the Mortgagor and is a nationally or regionally recognized manager of similar properties, (B) the related Mortgage Loan does not have an outstanding principal balance in excess of $5,000,000 and (C) the subject Mortgaged Property does not secure a Companion Loan;


                                  (iii)        approving any waiver affecting the timing of receipt of financial statements from any Mortgagor; provided that such financial statements are delivered no less than quarterly and within 60 days of the end of the calendar quarter;


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                                  (iv)        approving annual budgets for the related Mortgaged Property; provided that no such budget (1) provides for the payment of operating expenses in an amount equal to more than 110% of the amounts budgeted therefor for the prior year or (2) provides for the payment of any material expenses to any affiliate of the Mortgagor (other than the payment of a management fee to any property manager if such management fee is no more than the management fee in effect on the Cut-Off Date);


                                  (v)         subject to other restrictions herein regarding Principal Prepayments, waiving any provision of a Mortgage Loan requiring a specified number of days notice prior to a Principal Prepayment;


                                  (vi)        approving modifications, consents or waivers (other than those set forth in Section 3.20(c)) in connection with a defeasance permitted by the terms of the related Mortgage Loan if the Master Servicer receives an Opinion of Counsel (which Opinion of Counsel shall be an expense of the Mortgagor) to the effect that such modification, waiver or consent would not cause any REMIC to fail to qualify as a REMIC under the Code or result in a “prohibited transaction” under the REMIC Provisions; and


                                  (vii)       consent to subject the related Mortgaged Property to an easement or right-of-way for utilities, access, parking, public improvements or another purpose, and may consent to subordination of the related Mortgage Loan to such easements or right-of-ways; provided that the Master Servicer shall have determined in accordance with the Servicing Standard that such easement or right-of-way shall not materially interfere with the then current use of the related Mortgaged Property, or the security intended to be provided by such Mortgage, the related Mortgagor’s ability to repay the Mortgage Loan, or materially or adversely affect the value of such Mortgaged Property or cause the Mortgage Loan to cease to be a
“qualified mortgage” for REMIC purposes.


provided, however, if the Mortgage Loan is a Co-Lender Loan, the Master Servicer shall provide written notice of such modification, waiver and amendment to the related Companion Holder to the extent required under the related Intercreditor Agreement; provided, further, that the Master Servicer shall promptly notify the Special Servicer of any requests not subject to this Section 3.20(i) for which the Special Servicer is responsible pursuant to this Section 3.20 and shall deliver to the Special Servicer (which delivery may be by electronic transmission in a format acceptable to the Master Servicer and Special Servicer) a copy of the request, and all information in the possession of the Master Servicer that the Special Servicer may reasonably request related thereto.


                    (j)          For the avoidance of doubt, and without limiting the generality of the foregoing, any request for the disbursement of earnouts or holdback amounts with respect to any Mortgage Loan set forth on attached Exhibit J hereto or any Specially Serviced Mortgage Loan received by the Master Servicer shall be submitted to the Special Servicer for processing.  For purposes of this Agreement, “disbursement of earnouts or holdback amounts” shall mean the disbursement or funding to a Mortgagor of previously unfunded, escrowed or otherwise reserved portions of the loan proceeds of the applicable Mortgage Loan until certain conditions precedent thereto relating to the satisfaction of performance related criteria (i.e., project reserve thresholds, lease–up requirements,
sales requirements, etc.) as set forth in the applicable Mortgage Loan documents, have been satisfied.


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                    (k)          To the extent that either the Master Servicer or Special Servicer waives any Penalty Interest or late charge in respect of any Mortgage Loan, whether pursuant to Section 3.02(a) or this Section 3.20, the respective amounts of additional servicing compensation payable to the Master Servicer and the Special Servicer under Section 3.11 out of such Penalty Interest or late payment charges shall be reduced proportionately, based upon the respective amounts that had been payable thereto out of such Penalty Interest or late payment charges immediately prior to such waiver.


                    (l)          Notwithstanding anything to the contrary in this Agreement, neither the Master Servicer nor the Special Servicer, as applicable, shall take the following action unless it has received prior written confirmation (the cost of which shall be paid by the related Mortgagor, if so allowed by the terms of the related Mortgage Loan documents) from the Rating Agencies that such action will not result in a qualification, downgrade or withdrawal of any of the ratings assigned by such Rating Agency to the Certificates:


                                  (i)          With respect to any Mortgaged Property that secures a Mortgage Loan with an unpaid principal balance that is at least equal to five percent (5%) of the then aggregate principal balance of all Mortgage Loans or $20,000,000, the giving of any consent, approval or direction regarding the termination of the related property manager or the designation of any replacement property manager; and


                                  (ii)         With respect to each Mortgage Loan with an unpaid principal balance that is equal to or greater than (A) two percent (2%) of the then aggregate principal balance of all the Mortgage Loans or (B) $10,000,000 and which is secured by a Mortgaged Property which is a hospitality property, the giving of any consent to any change in the franchise affiliation of such Mortgaged Property.


                    (m)        In the event the Special Servicer, in connection with a modification, waiver or amendment in respect of any Co-Lender Loan (other than the Non-Serviced Mortgage Loans), modifies, waives or amends the terms thereof such that (i) the Stated Principal Balance is decreased, (ii) the Mortgage Rate is reduced, (iii) payments of interest or principal are waived, reduced or deferred or (iv) any other adjustment is made to any of the terms of such Co-Lender Loan, all payments made in respect of the related Mortgage Loan shall be made as though such modification, waiver or amendment did not occur, with the payment terms of such Co-Lender Loan remaining the same as they are on the related Cut Off Date, and the related Subordinate Companion Loan(s) shall bear the full economic effect of
all waivers, reductions or deferrals of amounts due on such Co-Lender Loan attributable to such modification, waiver or amendment.


                    (n)         With respect to the 1603 North 35th Street Loan, at any time that the related Mortgagor requests approval of a new lease or modification, renewal or extension of an existing lease, the Master Servicer or the Special Servicer, as applicable, pursuant to Section 3.20(a), is required to respond to such request within 20 Business Days of receipt of all information reasonably necessary to make a decision with respect to such request, including a copy of the proposed lease.  In the event the Servicer or the Special Servicer, as applicable, pursuant to Section 3.20(a) or 3.20(b), fails to respond to such request for approval within the specified period of time, under the terms of the related loan documents such approval is deemed given.


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                    (o)         With respect to each of the Residence Inn - Charleston, SC Loan and the Courtyard Matthews & Rockhill Pool Loan, at any time that a Mortgagor requests approval of a transfer of a tenant-in-common ownership interest as contemplated by and in accordance with the related loan documents, the Master Servicer or the Special Servicer, as applicable, pursuant to Section 3.08(b), must respond to such request within 10 Business Days of receipt of all information and the written notice required by the related loan documents.  In the event that the Master Servicer fails to respond to such request for approval or request additional information within the specified period of time, under the terms of the related loan documents such approval is deemed given.


                    (p)         With respect to each of the 14700 Lee Road Loan, the Sherwood Plaza Loan and the Oakton Corporate Center Loan, at any time that the related Mortgagor requests approval of a new lease or modification, renewal or extension of an existing lease, the Master Servicer or the Special Servicer, as applicable, pursuant to Section 3.20(a) or 3.20(b), is required to respond to such request within 20 Business Days of receipt of all information reasonably necessary to make a decision with respect to such request.  In the event the Master Servicer or the Special Servicer, as applicable, pursuant to Section 3.20(a) or 3.20(b), fails to respond to such request for approval within the specified period of time, under the terms of the related loan documents such approval is deemed given.  In
addition, with respect to each of the 14700 Lee Road Loan, the Sherwood Plaza Loan and the Oakton Corporate Center Loan, any time the related borrower request approval of contracts or work orders in excess of $250,000 for each Mortgaged Property, the Master Servicer or the Special Servicer, as applicable, pursuant to Section 3.20(a) or 3.20(b), shall be required to respond to such request within 10 Business Days of receipt of all information reasonably requested by the Master Servicer or the Special Servicer, as applicable, necessary to make a decision with respect to such request.  In the event the Master Servicer or the Special Servicer, as applicable, fails to request additional information or to respond to such request for approval within the specified period of time, such approval shall be deemed given.


          Section 3.21    Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping.


                    (a)          Upon determining that a Servicing Transfer Event has occurred with respect to any Mortgage Loan (other than the Non-Serviced Mortgage Loans), the Master Servicer or Special Servicer, as applicable, shall promptly notify the Trustee and Master Servicer or Special Servicer, as applicable, and, if the Master Servicer is not also the Special Servicer, the Master Servicer shall immediately deliver or cause to be delivered a copy of the related Mortgage File and Servicing File, to the Special Servicer and shall use reasonable efforts to provide the Special Servicer with all information, documents (or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to the Mortgage Loan and, if applicable the related Companion Loan,


either in the Master Servicer’s or any of its directors’, officers’, employees’, affiliates’ or agents’ possession or control or otherwise available to the Master Servicer without undue burden or expense, and reasonably requested by the Special Servicer to enable it to assume its functions hereunder with respect thereto without acting through a Sub-Servicer.  The Master Servicer shall use reasonable efforts to comply with the preceding sentence within 5 Business Days of the occurrence of each related Servicing Transfer Event; provided, however, if the information, documents and records 


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requested by the Special Servicer are not contained in the Servicing File, the Master Servicer shall have such period of time as reasonably necessary to make such delivery.  Notwithstanding the occurrence of a Servicing Transfer Event, the Master Servicer shall continue to receive payments on such Mortgage Loan (including amounts collected by the Special Servicer).


                    Upon determining that a Specially Serviced Mortgage Loan has become a Corrected Mortgage Loan and if the Master Servicer is not also the Special Servicer, the Special Servicer shall immediately give notice thereof to the Master Servicer, and shall return the related Mortgage File and Servicing File and all other information, documents and records that were not part of the Servicing File when it was delivered to the Special Servicer within 5 Business Days of the occurrence, to the Master Servicer (or such other Person as may be directed by the Master Servicer) and upon giving such notice, and returning such Servicing File, to the Master Servicer (or such other Person as may be directed by the Master Servicer), the Special Servicer’s obligation to service such Mortgage Loan, and, if applicable, the Companion Loan, and the Special
Servicer’s right to receive the Special Servicing Fee with respect to such Mortgage Loan shall terminate, and the obligations of the Master Servicer to service and administer such Mortgage Loan and, if applicable, the related Companion Loan shall resume.


                    (b)          In servicing any Specially Serviced Mortgage Loans, the Special Servicer shall provide to the Custodian originals of documents included within the definition of “Mortgage File” for inclusion in the related Mortgage File (with a copy of each such original to the Master Servicer) and copies of any additional related Mortgage Loan information, including correspondence with the related Mortgagor.


                    (c)          On or before each Determination Date, the Special Servicer shall deliver to the Master Servicer and each Rating Agency (or such other Person as may be directed by the Master Servicer) a statement in writing and in computer readable format (the form of such statement to be agreed upon by the Master Servicer) describing, on a loan-by-loan and property-by-property basis, (1) insofar as it relates to Specially Serviced Mortgage Loans and REO Properties, the information described in clauses (x) through (xiii) of Section 4.02(a) and, insofar as it relates to the Special Servicer, the information described in clauses  (xxv) and (xxvi) of Section 4.02(a), (2) the amount of all payments, Insurance Proceeds and Liquidation Proceeds received, and the amount of any Realized
Loss incurred, with respect to each Specially Serviced Mortgage Loan during the related Collection Period, and the amount of all REO Revenues, Insurance Proceeds and Liquidation Proceeds received, and the amount of any Realized Loss incurred, with respect to each REO Property during the related Collection Period, (3) the amount, purpose and date of all Servicing Advances requested by the Special Servicer with respect to each Specially Serviced Mortgage Loan and REO Property during the related Collection Period and (4) such additional information relating to the Specially Serviced Mortgage Loans and REO Properties as the Master Servicer reasonably requests to enable it to perform its responsibilities under this Agreement.  Notwithstanding the foregoing provisions of this subsection (c), the Master Servicer shall maintain ongoing payment records with respect to each of the Specially Serviced Mortgage Loans and REO Properties and shall provide the Special Servicer with any information
reasonably available to the Master Servicer required by the Special Servicer to perform its duties under this Agreement.


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                    (d)          No later than 60 days after a Mortgage Loan and, if applicable, Companion Loan becomes a Specially Serviced Mortgage Loan, the Special Servicer shall deliver to each Rating Agency, the Trustee, the Master Servicer and the Controlling Class Representative (and, in the case of a Co-Lender Loan, the related Companion Holder), a report (the “Asset Status Report”) with respect to such Mortgage Loan and the related Mortgaged Property.  Such Asset Status Report shall set forth the following information to the extent reasonably determinable:


                                   (i)          summary of the status of such Specially Serviced Mortgage Loan and negotiations with the related Mortgagor;


                                   (ii)        a discussion of the legal and environmental considerations reasonably known to the Special Servicer, consistent with the Servicing Standard, that are applicable to the exercise of remedies as aforesaid and to the enforcement of any related guaranties or other collateral for the related Specially Serviced Mortgage Loan and whether outside legal counsel has been retained;


                                   (iii)       the most current rent roll and income or operating statement available for the related Mortgaged Property;


                                   (iv)       the Appraised Value of the Mortgaged Property together with the assumptions used in the calculation thereof;


                                   (v)        summary of the Special Servicer’s recommended action with respect to such Specially Serviced Mortgage Loan; and


                                   (vi)       such other information as the Special Servicer deems relevant in light of the Servicing Standard.


                    Any Asset Status Report with respect to a Co-Lender Loan shall also include any additional information required by the related Intercreditor Agreement.  In addition, with respect to a Co-Lender Loan, the Controlling Class Representative’s approval or disapproval of any actions recommended by such Asset Status Report relating to such Co-Lender Loan will be subject to the rights of the related Companion Holder pursuant to the terms of the related Intercreditor Agreement.


                    If within 10 Business Days of receiving an Asset Status Report which relates to a recommended action for which the Controlling Class Representative is entitled to object under Section 6.11, the Controlling Class Representative does not disapprove such Asset Status Report in writing, the Special Servicer shall implement the recommended action as outlined in such Asset Status Report; provided, however, that the Special Servicer may not take any action that is contrary to applicable law, the Servicing Standard, or the terms of the applicable Mortgage Loan documents.  If the Controlling Class Representative disapproves such Asset Status Report, the Special Servicer will revise such Asset Status Report and deliver to the Controlling Class Representative, the Rating Agencies and the Master Servicer a new Asset Status Report as
soon as practicable, but in no event later than 30 days after such disapproval.


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                    The Special Servicer shall revise such Asset Status Report as described above in this Section 3.21(d) until the Controlling Class Representative shall fail to disapprove such revised Asset Status Report in writing within 10 Business Days of receiving such revised Asset Status Report or until the Special Servicer makes one of the determinations described below. The Special Servicer may, from time to time, modify any Asset Status Report it has previously delivered and implement such report; provided such report shall have been prepared, reviewed and not rejected pursuant to the terms of this Section.  Notwithstanding the foregoing, the Special Servicer (i) may, following the occurrence of an extraordinary event with respect to the related Mortgaged Property, take any action set forth in such Asset Status Report (and consistent


with the terms hereof) before the expiration of a 10 Business Day period if the Special Servicer has reasonably determined that failure to take such action would materially and adversely affect the interests of the Certificateholders or, if a Loan Pair is involved, the Certificateholders and the related Companion Holders, (as a collective whole) and it has made a reasonable effort to contact the Controlling Class Representative and (ii) in any case, shall determine whether such affirmative disapproval is not in the best interest of all the Certificateholders pursuant to the Servicing Standard.


                    Upon making such determination in clause (ii) of the immediately preceding paragraph, the Special Servicer shall notify the Trustee of such rejection and deliver to the Trustee, a proposed notice to Certificateholders which shall include a copy of the Asset Status Report, and the Trustee shall send such notice to all Certificateholders.  If the majority of such Certificateholders, as determined by Voting Rights, fail, within 5 days of the Trustee’s sending such notice, to reject such Asset Status Report, the Special Servicer shall implement the same.  If the Asset Status Report is rejected by a majority of the Certificateholders, (other than for a reason which violates the Servicing Standard, which shall control), the Special Servicer shall revise such Asset Status Report as described above in this Section 3.21(d) and
provide a copy of such revised report to the Master Servicer.  The Trustee shall be entitled to reimbursement from the Trust Fund for the reasonable expenses of providing such notices.  


                    The Special Servicer shall have the authority to meet with the Mortgagor for any Specially Serviced Mortgage Loan and take such actions consistent with the Servicing Standard, the terms hereof and the related Asset Status Report.  The Special Servicer shall not take any action inconsistent with the related Asset Status Report, unless such action would be required in order to act in accordance with the Servicing Standard.


                    No direction of the Controlling Class Representative or the majority of the Certificateholders shall (a) require or cause the Special Servicer to violate the terms of a Specially Serviced Mortgage Loan, applicable law or any provision of this Agreement, including the Special Servicer’s obligation to act in accordance with the Servicing Standard and to maintain the REMIC status of REMIC I and REMIC II and the grantor trust status of the Grantor Trusts, (b) result in the imposition of a “prohibited transaction” or “prohibited contribution” tax under the REMIC Provisions or (c) expose the Master Servicer, the Special Servicer, the Depositor, any of the Mortgage Loan Sellers, the Trust Fund or the Trustee or the officers and the directors of each party to claim, suit or liability or (d) expand
the scope of the Master Servicer’s, Trustee’s or Special Servicer’s responsibilities under this Agreement.  Notwithstanding the foregoing, it is agreed and acknowledged that, with respect to the Co-Lender Loans, the holders of the Companion Loans have certain consent and direction rights in the related Intercreditor Agreements.


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          Section 3.22     Sub-Servicing Agreements.


                    (a)          The Master Servicer and the Special Servicer may enter into Sub-Servicing Agreements to provide for the performance by third parties of any or all of their respective obligations hereunder; provided that in each case, the Sub-Servicing Agreement:  (i) is consistent with this Agreement in all material respects, requires the Sub-Servicer to comply with all of the applicable conditions of this Agreement and includes events of default with respect to the Sub-Servicer substantially similar to the Events of Default set forth in Section 7.01(a) hereof (other than Section 7.01(a)(ix), (x) and (xi) to the extent applicable (modified to apply to the Sub-Servicer instead of the Master Servicer); (ii) provides that if the Master Servicer or the Special
Servicer, as the case may be, shall for any reason no longer act in such capacity hereunder (including, without limitation, by reason of an Event of Default), the Trustee or its designee may thereupon assume all of the rights and, except to the extent such obligations arose prior to the date of assumption, obligations of the Master Servicer or the Special Servicer, as the case may be, under such agreement or (except with respect only to the Sub-Servicing Agreements in effect as of the date of this Agreement) may terminate such Sub-Servicing Agreement without cause and without payment of any penalty or termination fee (other than the right of reimbursement and indemnification); (iii) provides that the Trustee, for the benefit of the Certificateholders, shall be a third party beneficiary under such agreement, but that (except to the extent the Trustee or its designee assumes the obligations of the Master Servicer or the Special Servicer, as the case may be, thereunder as contemplated by the
immediately preceding clause (ii) none of the Trustee, the Trust Fund, any successor Master Servicer or Special Servicer, as the case may be, or any Certificateholder shall have any duties under such agreement or any liabilities arising therefrom; (iv) permits any purchaser of a Mortgage Loan pursuant to this Agreement to terminate such agreement with respect to such purchased Mortgage Loan at its option and without penalty; (v) with respect to any Sub-Servicing Agreement entered into by the Special Servicer, does not permit the Sub-Servicer to enter into or consent to any modification, waiver or amendment or otherwise take any action on behalf of the Special Servicer contemplated by Section 3.20 hereof without the consent of such Special Servicer or conduct any foreclosure action contemplated by Section 3.09 hereof or sale of a Mortgage Loan or REO Property contemplated by Section 3.18 hereof; (vi) does not permit the Sub-Servicer any direct rights of
indemnification that may be satisfied out of assets of the Trust Fund; and (vii) with respect to any Sub-Servicing Agreement entered into after the Closing Date and prior to the date upon which the Trust Fund’s Exchange Act reporting obligations are terminated by the filing of a Form 15 Suspension Notice as contemplated by Section 8.17(m), any Sub-Servicer (which is a Reporting Party) is not a Prohibited Party.  In addition, each Sub-Servicing Agreement entered into by the Master Servicer shall provide that such agreement shall be subject to Section 3.21 hereof with respect to any Mortgage Loan that becomes a Specially Serviced Mortgage Loan.  The Master Servicer and the Special Servicer shall each deliver to the Trustee and to each other copies of all Sub-Servicing Agreements, and any amendments thereto and modifications thereof, entered into by it promptly upon its execution and delivery of such documents.  References in this Agreement to actions taken or to be
taken by the Master Servicer or the Special Servicer include actions taken or to be taken by a Sub-Servicer on behalf of the Master Servicer or the Special Servicer, as the case may be; and, in connection therewith, all amounts advanced by any 


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Sub-Servicer to satisfy the obligations of the Master Servicer or the Special Servicer hereunder to make P&I Advances or Servicing Advances shall be deemed to have been advanced by the Master Servicer or the Special Servicer, as the case may be, out of its own funds and, accordingly, such P&I Advances or Servicing Advances shall be recoverable by such Sub-Servicer in the same manner and out of the same funds as if such Sub-Servicer were the Master Servicer or the Special Servicer, as the case may be.  For so long as they are outstanding, Advances shall accrue interest in accordance with Sections 3.03(d) and 4.03(d), such interest to be allocable between the Master Servicer or the Special Servicer, as the case may be, and such Sub-Servicer as they may agree.  For purposes of this Agreement, the Master Servicer and the Special Servicer each shall be deemed to have received any payment when a Sub-Servicer retained by it receives such payment. 
The Master Servicer and the Special Servicer each shall notify the other, the Trustee and the Depositor in writing promptly of the appointment by it of any Sub-Servicer.


                    (b)          Each Sub-Servicer shall be authorized to transact business in the state or states in which the related Mortgaged Properties it is to service are situated, if and to the extent required by applicable law.


                    (c)          The Master Servicer and the Special Servicer, for the benefit of the Trustee and the Certificateholders, shall (at no expense to the Trustee, the Certificateholders or the Trust Fund) monitor the performance and enforce the obligations of their respective Sub-Servicers under the related Sub-Servicing Agreements.  Such enforcement, including, without limitation, the legal prosecution of claims, termination of Sub-Servicing Agreements in accordance with their respective terms and the pursuit of other appropriate remedies, shall be in such form and carried out to such an extent and at such time as the Master Servicer or the Special Servicer, as applicable, in its good faith business judgment, would require were it the owner of the Mortgage Loans.  Subject to the terms of the
related Sub-Servicing Agreement, the Master Servicer and the Special Servicer may each have the right to remove a Sub-Servicer at any time it considers such removal to be in the best interests of Certificateholders.


                    (d)          In the event of the resignation, removal or other termination of Wachovia Bank, National Association, or any successor Master Servicer hereunder for any reason, the Trustee or other Person succeeding such resigning, removed or terminated party as Master Servicer, shall elect, with respect to any Sub-Servicing Agreement in effect as of the date of this Agreement:  (i) to assume the rights and obligations of the Master Servicer under such Sub-Servicing Agreement and continue the sub-servicing arrangements thereunder on the same terms (including without limitation the obligation to pay the same sub-servicing fee); (ii) to enter into a new Sub-Servicing Agreement with such Sub-Servicer on such terms as the Trustee or other successor Master Servicer and such Sub-Servicer
shall mutually agree (it being understood that such Sub-Servicer is under no obligation to accept any such new Sub-Servicing Agreement or to enter into or continue negotiations with the Trustee or other successor Master Servicer in which case the existing Sub-Servicing Agreement shall remain in effect); or (iii) to terminate the Sub-Servicing Agreement if an Event of Default (as defined in such Sub-Servicing Agreement) has occurred and is continuing or otherwise in accordance with the Sub-Servicing Agreement, in each case without paying any Sub-Servicer termination fee.


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                    Each Sub-Servicing Agreement will provide, among other things, that the Master Servicer and its successors may at its sole option, terminate any rights the Sub-Servicer may have thereunder with respect to any or all Mortgage Loans if Moody’s or S&P (i) reduces the rating assigned to one or more Classes of the respective Certificates as a result of the sub-servicing of the Mortgage Loans by the Sub-Servicer, or (ii) advises the Master Servicer or the Trustee in writing that it will cause a qualification, downgrade or withdrawal of such rating due to the continued servicing by the Sub-Servicer.


                    (e)          Notwithstanding any Sub-Servicing Agreement, the Master Servicer and the Special Servicer shall remain obligated and liable to the Trustee and the Certificateholders for the performance of their respective obligations and duties under this Agreement in accordance with the provisions hereof to the same extent and under the same terms and conditions as if each alone were servicing and administering the Mortgage Loans or REO Properties for which it is responsible.


                    (f)          The Special Servicer shall not enter into a Sub-Servicing Agreement unless it receives the consent of the Controlling Class Representative and each Rating Agency has confirmed in writing that the execution of such agreement will not result in a qualification, downgrade, or withdrawal of the then-current ratings on the outstanding Certificates or such Sub-Servicing Agreement relates to a Mortgage Loan or Mortgage Loans (along with any Mortgage Loans previously sub-serviced pursuant to this section) that represent less than 25% of the outstanding principal balance of all Specially Serviced Mortgage Loans.  The Special Servicer shall comply with the terms of each such Sub-Servicing Agreement to the extent the terms thereof are not inconsistent with the terms of this Agreement and
the Special Servicer’s obligations hereunder.


                    (g)          The Master Servicer shall cause any Sub-Servicer engaged by the Master Servicer (or by any Sub-Servicer) for the benefit of the Depositor and the Trustee to comply with the provisions of this Section 3.22 and with Section 8.17 of this Agreement to the same extent as if such Sub-Servicer were the Master Servicer, and to provide the information required with respect to such Sub-Servicer under this Section 3.22.  The Master Servicer shall be responsible for obtaining from each such Sub-Servicer and delivering to the Trustee and any applicable Persons any servicer compliance statement required to be delivered by such Sub-Servicer under Section 3.13 and any assessment of compliance report and related accountant’s attestation required to be delivered by such
Sub-Servicer under Section 3.14, in each case, as and when required to be delivered.


                    (h)          Each of the Master Servicer, the Special Servicer, the Sub-Servicer and the Trustee (each of the Master Servicer, the Special Servicer and the Trustee and each Sub-Servicer, for purposes of this paragraph and the succeeding paragraph, a “Servicer”) is permitted to utilize one or more Subcontractors to perform certain of its obligations hereunder.  Such Servicer shall promptly upon request provide to the Depositor and the Trustee a written description (in form and substance satisfactory to the Depositor) of the role and function of each Subcontractor utilized by such Servicer, specifying (i) the identity of each Subcontractor, (ii) which (if any) of such Subcontractors are Servicing Participants, and (iii) which elements of the Servicing Criteria


will be addressed in assessments of compliance provided by each Subcontractor identified pursuant to clause (ii) of this paragraph.  As a condition to the 


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utilization by such Servicer of any Subcontractor determined to be a Servicing Participant, such Servicer shall cause any such Subcontractor used by such Servicer for the benefit of the Depositor and the Trustee to comply with the provisions of Sections 3.13, 3.14 and 8.17 of this Agreement to the same extent as if such Subcontractor were such Servicer.  Such Servicer shall be responsible for obtaining from each such Subcontractor and delivering to the applicable Persons any assessment of compliance report and related accountant’s attestation required to be delivered by such Subcontractor under Section 3.13, Section 3.14 and Section 3.17, in each case, as and when required to be delivered.


                    (i)          Notwithstanding the foregoing, if a Servicer engages a Subcontractor in connection with the performance of any of its duties under this Agreement, such Servicer shall be responsible for determining whether such Subcontractor is a “servicer” within the meaning of Item 1101 of Regulation AB and whether any such affiliate or third-party vendor meets the criteria in Item 1108(a)(2)(i) or (ii) or (iii) of Regulation AB.  If a Servicer determines, pursuant to the preceding sentence, that such Subcontractor is a “servicer” within the meaning of Item 1101 of Regulation AB and meets the criteria in Item 1108(a)(2)(i) or (ii) or (iii) of Regulation AB, then such Subcontractor shall be deemed to be a Sub-Servicer for purposes of this Agreement, the engagement
of such Sub-Servicer shall not be effective unless and until notice is given to the Depositor and the Trustee of any such Sub-Servicer and Sub-Servicing Agreement.  No Sub-Servicing Agreement shall be effective until 30 days after such written notice is received by the Depositor and the Trustee.  Such notice shall contain all information reasonably necessary to enable the Trustee to accurately and timely report the event pursuant to Section 8.17.


          Section 3.23     Representations and Warranties of Master Servicer and Special Servicer.


                    (a)          Wachovia Bank, National Association, in its capacity as Master Servicer, hereby represents and warrants to the Trustee, for its own benefit and the benefit of the Certificateholders and the Companion Holders, and to the Depositor and the Special Servicer, as of the Closing Date, that:


                                   (i)         The Master Servicer is a national banking association, duly organized under the laws of the United States of America, and the Master Servicer is in compliance with the laws of each State in which any Mortgaged Property is located to the extent necessary to perform its obligations under this Agreement.


                                   (ii)        The execution and delivery of this Agreement by the Master Servicer, and the performance and compliance with the terms of this Agreement by the Master Servicer, will not violate the Master Servicer’s articles of association or by-laws or constitute a default (or an event which, with notice or lapse of time, or both, would constitute a default) under, or result in the breach of, any material agreement or other material instrument to which it is a party or by which it is bound.


                                   (iii)       The Master Servicer has the full power and authority to enter into and consummate all transactions contemplated by this Agreement, has duly authorized the execution, delivery and performance of this Agreement, and has duly executed and delivered this Agreement.


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                                   (iv)       This Agreement, assuming due authorization, execution and delivery by each of the other parties hereto, constitutes a valid, legal and binding obligation of the Master Servicer, enforceable against the Master Servicer in accordance with the terms hereof, subject to (A) applicable receivership, insolvency, reorganization, moratorium and other laws affecting the enforcement of creditors’ rights generally and the rights of creditors of banks, and (B) general principles of equity, regardless of whether such enforcement is considered in a proceeding in equity or at law.


                                   (v)        The Master Servicer is not in violation of, and its execution and delivery of this Agreement and its performance and compliance with the terms of this Agreement will not constitute a violation of, any law, any order or decree of any court or arbiter, or any order, regulation or demand of any federal, state or local governmental or regulatory authority, which violation, in the Master Servicer’s good faith and reasonable judgment, is likely to affect materially and adversely either the ability of the Master Servicer to perform its obligations under this Agreement or the financial condition of the Master Servicer.


                                   (vi)       No litigation is pending or, to the best of the Master Servicer’s knowledge, threatened, against the Master Servicer that would prohibit the Master Servicer from entering into this Agreement or, in the Master Servicer’s good faith and reasonable judgment, is likely to materially and adversely affect either the ability of the Master Servicer to perform its obligations under this Agreement or the financial condition of the Master Servicer, calculated on a consolidated basis.


                                   (vii)      Each officer, director, employee, consultant or advisor of the Master Servicer with responsibilities concerning the servicing and administration of Mortgage Loans is covered by errors and omissions insurance in the amounts and with the coverage as, and to the extent, required by Section 3.07(c).


                                   (viii)     The net worth of the Master Servicer (or, in the case of the initial Master Servicer, the consolidated net worth thereof and of its direct or indirect parent), determined in accordance with generally accepted accounting principles, is not less than $15,000,000.


                                   (ix)       Any consent, approval, authorization or order of any court or governmental agency or body required for the execution, delivery and performance by the Master Servicer of or compliance by the Master Servicer with this Agreement or the consummation of the transactions contemplated by this Agreement has been obtained and is effective.


                                   (x)        The Master Servicer possesses the fidelity bond required pursuant to Section 3.07(c) of this Agreement.


                    (b)          The Special Servicer hereby represents and warrants to the Trustee, for its own benefit and the benefit of the Certificateholders and the Companion Holders, and to the Depositor and the Master Servicer, as of the Closing Date, that:


                                   (i)         The Special Servicer is a corporation duly organized under the laws of the State of Florida, validly existing and the Special Servicer is in compliance with the laws of each State in which any Mortgaged Property is located to the extent necessary to perform its obligations under this Agreement.


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                                   (ii)        The execution and delivery of this Agreement by the Special Servicer, and the performance and compliance with the terms of this Agreement by the Special Servicer, will not violate the Special Servicer’s organizational documents or constitute a default (or an event which, with notice or lapse of time, or both, would constitute a default) under, or result in the breach of, any material agreement or other material instrument by which it is bound.


                                   (iii)       The Special Servicer has the full power and authority to enter into and consummate all transactions contemplated by this Agreement, has duly authorized the execution, delivery and performance of this Agreement, and has duly executed and delivered this Agreement.


                                   (iv)       This Agreement, assuming due authorization, execution and delivery by each of the other parties hereto, constitutes a valid, legal and binding obligation of the Special Servicer, enforceable against the Special Servicer in accordance with the terms hereof, subject to (A) applicable bankruptcy, insolvency, reorganization, moratorium and other laws affecting the enforcement of creditors’ rights generally, and (B) general principles of equity, regardless of whether such enforcement is considered in a proceeding in equity or at law.


                                   (v)        The Special Servicer is not in violation of, and its execution and delivery of this Agreement and its performance and compliance with the terms of this Agreement will not constitute a violation of, any law, any order or decree of any court or arbiter, or any order, regulation or demand of any federal, state or local governmental or regulatory authority, which violation, in the Special Servicer’s good faith and reasonable judgment, is likely to affect materially and adversely either the ability of the Special Servicer or to perform its obligations under this Agreement or the financial condition of the Special Servicer.


                                   (vi)       No litigation is pending or, to the best of the Special Servicer’s knowledge, threatened, against the Special Servicer the outcome of which in the Special Servicer’s good faith and reasonable judgment could reasonably be expected to prohibit the Special Servicer from entering into this Agreement or, in the Special Servicer’s good faith and reasonable judgment, is likely to materially and adversely affect either the ability of the Special Servicer to perform its obligations under this Agreement or the financial condition of the Special Servicer.


                                   (vii)      Each officer, director and employee of the Special Servicer and each consultant or advisor of the Special Servicer with responsibilities concerning the servicing and administration of Mortgage Loans is covered by errors and omissions insurance in the amounts and with the coverage required by Section 3.07(c).


                                   (viii)     Any consent, approval, authorization or order of any court or governmental agency or body required for the execution, delivery and performance by the Special Servicer of or compliance by the Special Servicer with this Agreement or the consummation of the transactions contemplated by this Agreement has been obtained and is effective.


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                                   (ix)       The Special Servicer possesses all insurance required pursuant to Section 3.07(c) of this Agreement.


                    (c)          The representations and warranties of the Master Servicer and the Special Servicer, set forth in Section 3.23(a) (with respect to the Master Servicer) and Section 3.23(b) (with respect to the Special Servicer) respectively, shall survive the execution and delivery of this Agreement and shall inure to the benefit of the Persons for whose benefit they were made for so long as the Trust Fund remains in existence.  Upon discovery by any party hereto of any breach of any of the foregoing representations and warranties, the party discovering such breach shall give prompt written notice to the other parties hereto.


          Section 3.24     Sub-Servicing Agreement Representation and Warranty.


                    The Master Servicer, in such capacity, hereby represents and warrants to the Trustee, for its own benefit and the benefit of the Certificateholders, and to the Depositor and the Special Servicer, as of the Closing Date, that each Sub-Servicing Agreement satisfies the requirements for such Sub-Servicing Agreements set forth in Sections 3.22(a) and the second paragraph of 3.22(d) in all material respects.


          Section 3.25     Designation of Controlling Class Representative.


                    (a)          The Holders (or, in the case of Book-Entry Certificates, the Certificate Owners) of Certificates representing more than 50% of the Class Principal Balance of the Controlling Class shall be entitled in accordance with this Section 3.25 to select a representative or designee (which designee need not be an actual Holder of Certificates) having the rights and powers specified in this Agreement (including those specified in Section 6.11) or to replace an existing Controlling Class Representative.  The advisor referred to above is referred to herein as the “Controlling Class Representative”.  Upon (i) the receipt by the Trustee of written requests for the selection of a Controlling Class Representative from the Holders (or, in the case of
Book-Entry Certificates, the Certificate Owners) of Certificates representing more than 50% of the Class Principal Balance of the Controlling Class, (ii) the resignation or removal of the Person acting as Controlling Class Representative or (iii) a determination by the Trustee that the Controlling Class has changed, the Trustee shall promptly notify the Depositor and the Holders (and, in the case of Book-Entry Certificates, to the extent actually known to a Responsible Officer of the Trustee or identified thereto by the Depository or the Depository Participants, the Certificate Owners) of the Controlling Class that they may select a Controlling Class Representative.  Such notice shall set forth the process for selecting a Controlling Class Representative, which shall be the designation of the Controlling Class Representative by the Holders (or Certificate Owners) of Certificates representing more than 50% of the Class Principal Balance of the Controlling Class by a
writing delivered to the Trustee.  No appointment of any Person as a Controlling Class Representative shall be effective until such Person provides the Trustee and the Master Servicer with written confirmation of its acceptance of such appointment, an address and telecopy number for the delivery of notices and other correspondence and a list of officers or employees of such Person with whom the parties to this Agreement may deal (including their names, titles, work addresses and telecopy numbers).  LNR Securities Holdings, LLC shall be the initial Controlling Class Representative with respect to the Mortgage Loans without need for further designation or notice.


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                    Notwithstanding anything in this Section 3.25(a), the holders of the Companion Loans have certain consent and direction rights pursuant to the terms of the related Intercreditor Agreements as incorporated in this Agreement, and this Section shall not supersede any such rights, but nothing herein shall be construed to limit the right of the Controlling Class Representative to consult on a non-binding basis with the Special Servicer about any applicable Mortgage Loan.


                    (b)          Within 10 Business Days (or as soon thereafter as practicable if the Controlling Class consists of Book-Entry Certificates) of receiving a request therefor from the Master Servicer or Special Servicer, the Trustee shall, to the extent in its possession, deliver to the requesting party the identity of the Controlling Class Representative and a list of each Holder (or, in the case of Book-Entry Certificates, to the extent actually known to a Responsible Officer of the Trustee or identified thereto by the Depository or the Depository Participants, each Certificate Owner) of the Controlling Class, including, in each case, names and addresses.  With respect to such information, the Trustee shall be entitled to conclusively rely on information provided to it by the Depository, and


the Master Servicer and the Special Servicer shall be entitled to rely on such information provided by the Trustee with respect to any obligation or right hereunder that the Master Servicer and the Special Servicer may have to deliver information or otherwise communicate with the Controlling Class Representative or any of the Holders (or, if applicable, Certificate Owners) of the Controlling Class.  In addition to the foregoing, within two (2) Business Days of the selection, resignation or removal of a Controlling Class Representative, the Trustee shall notify the other parties to this Agreement of such event.  The expenses incurred by the Trustee in connection with obtaining information from the Depository or Depository Participants with respect to any Book-Entry Certificate shall be expenses of the Trust Fund payable out of the Certificate Account pursuant to Section 3.05(a).


                    (c)          A Controlling Class Representative may at any time resign as such by giving written notice to the Trustee and to each Holder (or, in the case of Book-Entry Certificates, Certificate Owner) of the Controlling Class.  The Holders (or, in the case of Book-Entry Certificates, the Certificate Owners) of Certificates representing more than 50% of the Class Principal Balance of the Controlling Class shall be entitled to remove any existing Controlling Class Representative by giving written notice to the Trustee and to such existing Controlling Class Representative.


                    (d)          Once a Controlling Class Representative has been selected pursuant to this Section 3.25, each of the parties to this Agreement and each Certificateholder (or Certificate Owner, if applicable) shall be entitled to rely on such selection unless a majority of the Holders (or, in the case of Book-Entry Certificates, the Certificate Owners) of the Controlling Class, by aggregate Certificate Principal Balance, or such Controlling Class Representative, as applicable, shall have notified the Trustee and each other Holder (or, in the case of Book-Entry Certificates, Certificate Owner) of the Controlling Class, in writing, of the resignation or removal of such Controlling Class Representative.


                    (e)          Any and all expenses of the Controlling Class Representative shall be borne by the Holders (or, if applicable, the Certificate Owners) of Certificates of the Controlling Class, pro rata according to their respective Percentage Interests in such Class, and not by the Trust Fund.  Notwithstanding the foregoing, if a claim is made against the Controlling Class 


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Representative by a Mortgagor with respect to this Agreement or any particular Mortgage Loan, the Controlling Class Representative shall immediately notify the Trustee, the Master Servicer and the Special Servicer, whereupon (if the Special Servicer or the Trust Fund are also named parties to the same action and, in the reasonable judgment of the Special Servicer, (i) the Controlling Class Representative had acted in good faith, without negligence or willful misfeasance with regard to the particular matter, and (ii) there is no potential for the Special Servicer or the Trust Fund to be an adverse party in such action as regards the Controlling Class Representative) the Special Servicer on behalf of the Trust Fund shall, subject to Section 6.03, assume the defense of any such claim against the Controlling Class Representative.  This provision shall survive the termination of this Agreement and the termination or resignation of the Controlling


Class Representative.


                    (f)          All rights to, and requirements for, information or notice (including, but not limited to the delivery of information, notice or access to information) provided to the Controlling Class Representative or Certificateholders, in general contained in this Agreement shall also apply to each Companion Holder (provided such Companion Holder is not a Mortgagor or an affiliate of a Mortgagor) with respect to information relating to the related Co-Lender Loan (but, in the case of information relating to a Co-Lender Loan, excluding the fair value determination thereof).


          Section 3.26     Companion Paying Agent.


                    (a)          The Master Servicer shall be the initial Companion Paying Agent hereunder.  The Companion Paying Agent undertakes to perform such duties and only such duties as are specifically set forth herein.  The Companion Paying Agent shall promptly make available to the Companion Holders (other than, in each case, the holders of the Companion Loans relating to the 2007-C30 Serviced Mortgage Loans, the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan and the GECMC 2007-C1 Serviced Mortgage Loan) all reports available to the Companion Paying Agent that the Trustee has made available to Certificateholders under this Agreement.


                    (b)          No provision of this Agreement shall be construed to relieve the Companion Paying Agent from liability for its own negligent failure to act, bad faith or its own willful misfeasance; provided, however, that the duties and obligations of the Companion Paying Agent shall be determined solely by the express provisions of this Agreement, the Companion Paying Agent shall not be liable except for the performance of such duties and obligations, no implied covenants or obligations shall be read into this Agreement against the Companion Paying Agent and, in the absence of bad faith on the part of the Companion Paying Agent, the Companion Paying Agent may conclusively rely, as to the truth and correctness of the statements or conclusions expressed therein, upon any resolutions,


certificates, statements, opinions, reports, documents, orders or other instrument furnished to the Companion Paying Agent by any Person and which on their face do not contradict the requirements of this Agreement.


                    (c)          If the Companion Paying Agent is also the Master Servicer, upon the resignation or removal of the Master Servicer pursuant to this Agreement, the Companion Paying Agent shall be deemed simultaneously to resign or be removed.


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                    (d)          This Section shall survive the termination of this Agreement or the resignation or removal of the Companion Paying Agent, as regards rights accrued prior to such resignation or removal.


          Section 3.27     Companion Register.


                    The Companion Paying Agent shall maintain a register (the “Companion Register”) on which it will record the names and addresses of, and wire transfer instructions for, the Companion Holders (other than the holders of the Companion Loans relating to the Non-Serviced Mortgage Loans) from time to time, to the extent such information is provided in writing to it by the Companion Holder.  Each initial Companion Holder, along with its name, address, wiring instructions and tax identification number, is listed on Exhibit L hereto.  The Companion Holders shall inform the Companion Paying Agent and the Master Servicer of the name, address, wiring instructions and taxpayer identification number of any subsequent Companion Holders upon any transfer of a Companion Loan.  Upon the sale of a Companion Loan or portion
thereof, the transferring Companion Holder shall inform the Companion Paying Agent and the Master Servicer in writing that such transfer has taken place and provide the Companion Paying Agent and the Master Servicer with the name, address, wiring instructions and tax identification number of the transferee.  In the event the Companion Holder transfers a Companion Loan without notice to the Companion Paying Agent, the Companion Paying Agent shall have no liability for any misdirected payment in the related Companion Loan and shall have no obligation to recover and redirect such payment.


                    The Companion Paying Agent shall promptly provide the name and address of the Companion Holders to any party hereto or any successor Companion Holders upon written request and any such Person may, without further investigation, conclusively rely upon such information.  The Companion Paying Agent shall have no liability to any Person for the provision of any such names and addresses.


          Section 3.28     Future Debt Secured by Interests in Related Mortgagors.


                    In the event the Mortgage Loan documents permit ownership interests in the related Mortgagor to be pledged as security for mezzanine debt in the future, in addition to any consents required hereunder, the Master Servicer shall require, to the extent not inconsistent with the Mortgage Loan documents, the execution in favor of the Trust Fund of a subordination and standstill agreement or an intercreditor agreement, as applicable, in form and substance that would be satisfactory to a commercially reasonable and prudent mortgage lender.


          Section 3.29     Litigation Control.


                    The Special Servicer shall, (1) direct, manage, prosecute and/or defend  any action brought by a Mortgagor against the Trust and/or the Special Servicer and (2) represent the interests of the Trust in any litigation  relating to the rights and obligations of the Mortgagor or the Trust, or the enforcement of the obligations of a Mortgagor, under the Mortgage Loan documents (“Trust-Related Litigation”).


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                    To the extent the Master Servicer is named in Trust-Related Litigation, and the Trust or Special Servicer is not named, in order to effectuate the role of the Special Servicer as contemplated by the immediately preceding paragraph, the Master Servicer shall (1) notify the Special Servicer of such Trust-Related Litigation within ten (10) days of the Master Servicer receiving service of such Trust-Related Litigation; (2) provide monthly status reports to the Special Servicer, regarding such Trust-Related Litigation; (3) seek to have the Trust replace the Master Servicer as the appropriate party to the lawsuit; and (4) so long as the Master Servicer remains a party to the lawsuit, consult with and act at the direction of the Special Servicer with  respect to decisions and resolutions related to the interests of the Trust in such Trust-Related
Litigation, including but not limited to the selection of counsel, provided however, if there are claims against the Master Servicer and the Master Servicer has not determined that separate counsel is required for such claims, such counsel shall be reasonably acceptable to the Master Servicer.


                    Notwithstanding the right of the Special Servicer to represent the interests of the Trust in Trust-Related Litigation, and subject to the rights of the Special Servicer to direct the Master Servicer’s actions in this Section 3.29 below, the Master Servicer shall retain the right to make determinations relating to claims against the Master Servicer, including but not limited to the right to engage separate counsel in the Master Servicer’s reasonable discretion, the cost of which shall be subject to indemnification pursuant to Section 6.03. 


                    Further, nothing in this section shall require the Master Servicer to take or fail to take any action which, in the Master Servicer’s good faith and reasonable judgment, may (1) result in an Adverse REMIC Event or Adverse Grantor Trust Event or (2) subject the Master Servicer to liability or materially expand the scope of the Master Servicer’s obligations under this Agreement. 


                    Notwithstanding the Master Servicer’s right to make determinations relating to claims against the Master Servicer, the Special Servicer shall have the right at any time to (1) direct the Master Servicer to settle any claims brought against the Trust, including claims asserted against the Master Servicer (whether or not the Trust or the Special Servicer is named in any such claims or Trust-Related Litigation) and (2) otherwise reasonably direct the actions of the Master Servicer relating to claims against the Master Servicer (whether or not the Trust or the Special Servicer is named in any such claims or Trust-Related Litigation), provided in either case that the Special Servicer provides the Master Servicer with assurance that (A) such settlement  or  other direction does not require any admission of liability or wrongdoing on the
part of the Master Servicer, (B) the cost of such settlement or any resulting judgment is and shall be paid by the Trust, (C) the Master Servicer is and shall be indemnified pursuant to Section 6.03 hereof for all costs and expenses of the Master Servicer incurred in defending and settling the Trust-Related Litigation and for any judgment, (D) any such action taken by the Master Servicer at the direction of the Special Servicer be deemed (as to the Master Servicer) to be in compliance with the Servicing Standard and (E) the Special Servicer provides the Master Servicer with assurance reasonably satisfactory to the Master Servicer as to the items in clauses (A), (B) and (C).


                    In the event both the Master Servicer and the Special Servicer or Trust are named in litigation, the Master Servicer and the Special Servicer shall cooperate with each other to afford the Master Servicer and the Special Servicer the rights afforded to such party in this Section 3.29.


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                    This Section 3.29 shall not apply in the event the Special Servicer authorizes the Master Servicer, and the Master Servicer agrees (both authority and agreement to be in writing), to make certain decisions or control certain Trust-Related Litigation on behalf of the Trust.


                    Notwithstanding the foregoing, (a) in the event that any action, suit, litigation or proceeding names the Trustee in its individual capacity, or in the event that any judgment is rendered against the Trustee in its individual capacity, the Trustee, upon prior written notice to the Master Servicer or the Special Servicer, as applicable, may retain counsel and appear in any such proceeding on its own behalf in order to protect and represent its interests (but not to otherwise direct, manage or prosecute such litigation or claim); (b) in the event of any action, suit, litigation or proceeding, other than an action, suit, litigation or proceeding relating to the enforcement of the obligations of a Mortgagor, guarantor or other obligor under the related Mortgage Loan documents, or otherwise relating to one or more Mortgage Loans or Mortgaged
Properties, neither the Master Servicer nor the Special Servicer shall, without the prior written consent of the Trustee, (i) initiate an action, suit, litigation or proceeding in the name of the Trustee, whether in such capacity or individually, (ii) engage counsel to represent the Trustee, or (iii) prepare, execute or deliver any government filings, forms, permits, registrations or other documents or take any other similar action with the intent to cause, and that actually causes, the Trustee to be registered to do business in any state; and (c) in the event that any court finds that the Trustee is a necessary party in respect of any action, suit, litigation or proceeding relating to or arising from this Agreement or any Mortgage Loan, the Trustee shall have the right to retain counsel and appear in any such proceeding on its own behalf in order to protect and represent its interests, whether as Trustee or individually (but not to otherwise direct, manage or prosecute such litigation or
claim).


          Section 3.30     Swap Contract.


                    (a)          On or before the Closing Date, the Trustee, not in its individual capacity but solely in its capacity as Trustee, on behalf of the Trust, shall enter into the Swap Contract and related agreements with the Swap Counterparty.  The Paying Agent shall perform the duties and obligations of the Trustee under the Swap Contract.


                    (b)          Not later than 11:00 a.m. New York City time, on the Business Day prior to each Distribution Date, based on the CMSA Loan Periodic Update File for the related Collection Period provided by the Master Servicer pursuant to Section 4.01(b), information obtained by the Paying Agent from the Swap Counterparty pursuant to the Swap Contract, and subject to the priorities set forth in Sections 4.01(a), 4.01(b) and 4.01(l) hereof, the Paying Agent shall (i) calculate the applicable Fixed Swap Payment, if any, and the applicable Floating Swap Payment, if any, in accordance with the terms of the Swap Contract and this Agreement, and (ii) notify the Swap Counterparty of any Floating Swap Payment, Fixed Swap Payment and Net Swap Payment or Net Swap Receipt.  In the event the Trustee (or the
Paying Agent on behalf of the Trust) fails to receive any Floating Swap Payment payable by the Swap Counterparty on the Business Day prior to the related Distribution Date, the Trustee (or Paying Agent) shall provide the Swap Counterparty with notice of such non-payment no later than 5:00 p.m. New York City time on such date.  On the related Distribution Date following such notice of non-payment, if the Trustee fails to receive the applicable Floating Swap Payment by 11:00 a.m. New York City time on such Distribution Date, a Swap Default and a Class A-5FL Distribution Conversion, as applicable, shall occur on such Distribution Date.


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                    (c)          On each Distribution Date, the Paying Agent shall remit the Net Swap Payment, if any, to the Swap Counterparty from the Floating Rate Account; provided, that upon and during the continuation of a Class A-5FL Distribution Conversion, the Paying Agent shall not make such payments to the Swap Counterparty.  Promptly upon receipt of any payment or other receipt in respect of the Swap Contract, the Paying Agent shall deposit the same into the Floating Rate Account.


                    (d)          The Trustee (or the Paying Agent on the behalf of the Trustee) shall at all times enforce the Trust Fund’s rights under the Swap Contract.  In the event of a Swap Default, the Trustee (or the Paying Agent on its behalf) shall promptly provide written notice to the Holders of the Class A-5FL Certificates and shall be required to take such actions (following the expiration of any applicable grace period specified in the Swap Contract), unless otherwise directed in writing by the holders of 25% by Certificate Balance of the Class A-5FL Certificates, to enforce the rights of the Trust Fund under the Swap Contract as may be permitted by the terms thereof, including termination thereof, and use Swap Termination Fees, if any, received from the Swap Counterparty to enter into a
replacement interest rate swap contract on substantially identical terms or on such other terms reasonably acceptable to the Trustee (or the Paying Agent on its behalf), with a replacement swap counterparty that would not cause a Rating Agency Trigger Event, subject, in each case, to written confirmation by the Rating Agencies that such action will not result in a qualification, downgrade or withdrawal of the then current ratings of the Certificates.  If the costs attributable to entering into a replacement interest rate swap contract would exceed the amount of any Swap Termination Fees, a replacement interest rate swap contract shall not be entered into and any such proceeds will instead be distributed to the holders of the Class A-5FL Certificates on the immediately succeeding Distribution Date.  Notwithstanding anything to the contrary in this Agreement or the Swap Contract, the Trustee shall be under no obligation to take any action to enforce the rights of the Trust Fund under the Swap
Contract unless it is assured, in its sole discretion, that the costs and expenses of such action(s) will be reimbursed or indemnified by the Holders of the Class A-5FL Certificates or any other party (other than the Trust Fund).


                    Any Class A-5FL Distribution Conversion shall become permanent following the determination by the Trustee (or the Paying Agent acting on its behalf) not to enter into a replacement interest rate swap contract and distribution of any Swap Termination Fees to the Holders of the Class A-5FL Certificates.  Any such Swap Default (or termination of the Swap Contract) and the resulting Class A-5FL Distribution Conversion shall not, in and of itself, constitute an Event of Default under this Agreement.


                    Upon any change (or notification to the Paying Agent that such change is imminent) in the payment terms on the Class A-5FL Certificates, including as a result of a Class A-5FL Distribution Conversion, termination of a Class A-5FL Distribution Conversion, a Swap Default or the cure of a Swap Default, the Paying Agent shall promptly notify the Depositor of the change in payment terms.


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                    (e)          In the event that the Swap Contract is terminated and no replacement Swap Contract is entered into, the Paying Agent shall provide notice of such termination to the Class A-5FL Certificateholders, which notice shall include: “The Swap Contract with respect to the Class A-5FL Certificates is terminated as of [date].  Certificateholders and beneficial owners that are Plans are advised that the Exemptions will no longer apply to the Class A-5FL Certificates, effective 60 days after the receipt of this notice.  All capitalized terms used in this notice shall have the meaning assigned to them in the Pooling and Servicing Agreement.”


                    (f)          The Paying Agent’s obligation to pay to the Swap Counterparty any funds under the Swap Contract shall be limited to the provisions of Section 3.05(g) and in accordance with the priorities set forth herein; the Trustee will have no obligation on behalf of the Trust Fund to pay or cause to be paid to the Swap Counterparty any portion of the amount due to the Swap Counterparty under the Swap Contract for any Distribution Date unless and until the related interest payment on the Class A-5FL Regular Interest for such Distribution Date is actually received by the Trustee.


                    (g)          Any costs and expenses related to the Swap Contract will not be payable from the Floating Rate Account of the Trust Fund and will not constitute Additional Trust Fund Expenses.  No party hereunder shall advance any Floating Swap Payments.  Simultaneously with the delivery to the Certificateholders, the Trustee shall (1) make available to the Swap Counterparty the Distribution Date Statement and (2) make available or deliver to the Swap Counterparty copies of any other reports or notices delivered to the Class A-5FL Certificateholders as and to the extent required by the Swap Contract.


          Section 3.31     Certain Matters Relating to the Non-Serviced Mortgage Loans.


                    (a)          The parties hereto acknowledge that each Non-Serviced Mortgage Loan is subject to the terms and conditions of the related Intercreditor Agreement and that each Non-Serviced Mortgage Loan is further subject to the servicing under and all other terms and conditions of the related Non-Serviced Mortgage Loan Pooling Agreement.


                    (b)          Notwithstanding anything herein to the contrary, the parties hereto acknowledge and agree that each of the Master Servicer’s and the Special Servicer’s obligations and responsibilities hereunder and the Master Servicer’s and the Special Servicer’s authority with respect to each Non Serviced Mortgage Loan are limited by and subject to the terms of the related Intercreditor Agreement and the rights of the related master servicer and special servicer with respect thereto under the related Non Serviced Mortgage Loan Pooling Agreement.


                    The Trustee, on behalf of the Certificateholders, hereby assumes the obligations of the holder of a Non-Serviced Mortgage Loan under the related Intercreditor Agreement and agrees to enforce any rights it may have as holder of such Non-Serviced Mortgage Loan under such Intercreditor Agreement or the related Non-Serviced Mortgage Loan Pooling Agreement; provided that any other obligations will be performed by either the Trustee or the applicable Master Servicer or Special Servicer, as such parties may (in good faith and with reasonable efforts) mutually agree; provided, further, that if the Trustee and such Master Servicer or Special Service cannot reach an agreement regarding whether the Trustee or such Master Servicer or Special Servicer shall perform any such other obligation, then the Trustee shall perform such other obligation.


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                    (c)          In the event that any trustee, master servicer or special servicer with respect to a Non Serviced Mortgage Loan shall be replaced in accordance with the terms of the Non-Serviced Mortgage Loan Pooling Agreement, promptly upon notice thereof, the Trustee, the Master Servicer and the Special Servicer shall, upon request, acknowledge such successor trustee, master servicer and/or special servicer, as the case may be, as the successor to the related trustee, master servicer or special servicer, as the case may be.


                    (d)          The Master Servicer and the Special Servicer shall deliver, or cause to be delivered, to the Trustee, in the timeframes and in the manner set forth in this Agreement following receipt from a trustee, master servicer or special servicer with respect to a Non-Serviced Mortgage Loan, any servicing reports concerning the related Non-Serviced Mortgage Loan.


                    (e)          The Controlling Class Representative is authorized to exercise the rights and powers of the Trustee, as holder of the related Mortgage Note for each of the Non-Serviced Mortgage Loans, under each of the related Intercreditor Agreements and Non-Serviced Mortgage Loan Pooling Agreements with respect to voting on any matter relating to the related Whole Loan requiring a direction or consent pursuant to the related Non-Served Mortgage Loan Pooling Agreement or Intercreditor Agreement.  Subject to any section of the applicable Intercreditor Agreement that specifically addresses a particular matter with respect to a Non-Serviced Mortgage Loan, if the Trustee is requested to take any action in its capacity as holder of the Note for such Non-Serviced Mortgage Loan, the Trustee will
notify in writing the Controlling Class Representative and, subject to Section 8.01, act in accordance with the instructions of such party to the extent set forth in this Agreement; provided, that the Trustee shall not be required to take any action at the direction of the Controlling Class Representative that is not permitted under applicable law or the terms of the related Non-Serviced Mortgage Loan Pooling Agreement or Intercreditor Agreement.  Notwithstanding the foregoing, the Controlling Class Representative may only exercise any purchase option with respect to a Non-Serviced Mortgage Loan in its individual capacity and not on behalf of the Trust.


                    (f)          With respect to the 666 Fifth Avenue Loan, the Controlling Class Representative is entitled to direct the GECMC 2007-C1 Trustee to appoint a sub-servicer solely with the respect to the 666 Fifth Avenue Whole Loan upon the occurrence and continuance of an event of default with respect to the GECMC 2007-C1 Master Servicer under the GECMC 2007-C1 Pooling and Servicing Agreement.   The appointment of a subs-servicer will be subject to the conditions contained in the GECMC 2007-C1 Pooling and Servicing Agreement, including, without limitation, receipt of written confirmation from the Rating Agencies that such appointment would not cause the downgrade, withdrawal or qualification of the then  current ratings of the Certificates.


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ARTICLE IV


DISTRIBUTIONS TO CERTIFICATEHOLDERS


          Section 4.01     Distributions.


                    (a)          On each Distribution Date the Paying Agent shall (except as otherwise provided in Section 9.01), based on information provided by the Master Servicer and the Special Servicer, apply amounts on deposit in the Distribution Account, after payment of amounts payable from the Distribution Account in accordance with Section 3.05(b)(ii) through (vii), deemed distributions from REMIC I to REMIC II pursuant to Section 4.01(h), for the following purposes and in the following order of priority, in each case to the extent of the remaining portion of the Available Distribution Amount:


                                   (i)         concurrently, (i) from the Loan Group 1 Available Distribution Amount, to distributions of interest to the Holders of the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4 and Class A-5 Certificates and the Class A-5FL Regular Interest, up to an amount equal to, and pro rata as among such Classes in accordance with, all Distributable Certificate Interest in respect of such Class of Certificates and the Class A-5FL Regular Interest for such Distribution Date and, to the extent not previously paid, for all prior Distribution Dates, if any, (ii) from the Loan Group 2 Available Distribution Amount, to distributions of interest to the Holders of the Class A-1A
Certificates, up to an amount equal to all Distributable Certificate Interest in respect of such Class of Certificates for such Distribution Date and, to the extent not previously paid, for all prior Distribution Dates, if any, and (iii) from the Loan Group 1 Available Distribution Amount and/or the Loan Group 2 Available Distribution Amount, to distributions of interest to the Holders of the Class IO Certificates, up to an amount equal to all Distributable Certificate Interest in respect of such Class of Certificates for such Distribution Date and, to the extent not previously paid, for all prior Distribution Dates, if any; provided, however, if the Loan Group 1 Available Distribution Amount and/or the Loan Group 2 Available Distribution Amount is insufficient to pay in full the total amount of Distributable Certificate Interest, as provided above, payable in respect of any Class of Senior Certificates (other than the Class A-5FL Certificates) and the Class A-5FL Regular Interest
on such Distribution Date, then the entire Available Distribution Amount shall be applied to make distributions of interest to the Holders of the respective Classes of the Senior Certificates and the Class A-5FL Regular Interest, up to an amount equal to, and pro rata as among such Classes in accordance with, all Distributable Certificate Interest in respect of each such Class of Certificates and the Class A-5FL Regular Interest for such Distribution Date and, to the extent not previously paid, for all prior Distribution Dates, if any;


                                   (ii)        to distributions of principal to the Holders of the Class A-PB Certificates, in an amount equal to the Loan Group 1 Principal Distribution Amount for such Distribution Date and, after the Class A-1A Certificates have been retired, the entire Loan Group 2 Principal Distribution Amount for such Distribution Date remaining after making any distributions required pursuant to clause (ix) below on such Distribution Date, until the Certificate Balance of the Class A-PB Certificates is reduced to the Class A-PB Planned Principal Balance;


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                                   (iii)       after the Class Principal Balance of the Class A-PB Certificates has been reduced to the Class A-PB Planned Principal Balance, to distributions of principal to the Holders of the Class A-1 Certificates, in an amount (not to exceed the Class Principal Balance of the Class A-1 Certificates outstanding immediately prior to such Distribution Date) equal to the entire Loan Group 1 Principal Distribution Amount and, after the Class Principal Balance of the Class A-1A Certificates has been reduced to zero, the entire Loan Group 2 Principal Distribution Amount for such Distribution Date remaining after making any distributions required pursuant to clause (ix) below on such Distribution


Date, less any portion thereof distributed in respect of the Class A-PB Certificates on such Distribution Date;


                                   (iv)       after the Class Principal Balance of the Class A-PB Certificates has been reduced to the Class A-PB Planned Principal Balance and after the Class Principal Balance of the Class A-1 Certificates has been reduced to zero, to distributions of principal to the Holders of the Class A-2 Certificates, in an amount (not to exceed the Class Principal Balance of the Class A-2 Certificates outstanding immediately prior to such Distribution Date) equal to the entire Loan Group 1 Principal Distribution Amount and, after the Class Principal Balance of the Class A-1A Certificates has been reduced to zero, the entire Loan Group 2 Principal Distribution Amount for such Distribution Date remaining
after making any distributions required pursuant to clause (ix) below on such Distribution Date (in each case, net of any portion thereof distributed on such Distribution Date to the Holders of the Class A-PB Certificates and the Class A-1 Certificates pursuant to clauses (ii) and (iii) above);


                                   (v)        after the Class Principal Balance of the Class A-PB Certificates has been reduced to the Class A-PB Planned Principal Balance and after the Class Principal Balance of each of the Class A-1 and Class A-2 Certificates has been reduced to zero, to distributions of principal to the Holders of the Class A-3 Certificates, in an amount (not to exceed the Class Principal Balance of the Class A-3 Certificates outstanding immediately prior to such Distribution Date) equal to the entire Loan Group 1 Principal Distribution Amount and, after the Class Principal Balance of the Class A-1A Certificates has been reduced to zero, the entire Loan Group 2 Principal Distribution Amount for
such Distribution Date remaining after making any distributions required pursuant to clause (ix) below on such Distribution Date (in each case, net of any portion thereof distributed on such Distribution Date to the Holders of the Class A-PB, Class A-1 and Class A-2 Certificates pursuant to clauses (ii), (iii) and (iv) above);


                                   (vi)       after the Class Principal Balance of the Class A-PB Certificates has been reduced to the Class A-PB Planned Principal Balance and after the Class Principal Balance of each of the Class A-1, Class A-2 and Class A-3 Certificates has been reduced to zero, to distributions of principal to the Holders of the Class A-PB Certificates, in an amount (not to exceed the Class Principal Balance of the Class A-PB Certificates outstanding immediately prior to such Distribution Date) equal to the entire Loan Group 1 Principal Distribution Amount and, after the Class Principal Balance of the Class A-1A Certificates has been reduced to zero, the entire Loan Group 2 Principal Distribution
Amount for such Distribution Date remaining after making any distributions required pursuant to clause (ix) below on such Distribution Date (in each case, net of any portion thereof distributed on such Distribution Date to the Holders of the Class A-PB, Class A-1, Class A-2 and Class A-3 Certificates pursuant to clauses (ii), (iii), (iv) and (v) above);


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                                   (vii)      after the Class Principal Balances of the Class A-1, Class A-2, Class A-3 and Class A-PB Certificates have been reduced to zero, to distributions of principal to the Holders of the Class A-4 Certificates, in an amount (not to exceed the Class Principal Balance of the Class A-4 Certificates outstanding immediately prior to such Distribution Date) equal to the entire Loan Group 1 Principal Distribution Amount and, after the Class Principal Balance of the Class A-1A Certificates has been reduced to zero, the entire Loan Group 2 Principal Distribution Amount for such Distribution Date remaining after making any distributions required pursuant to clause (ix) below on such
Distribution Date (in each case, net of any portion thereof distributed on such Distribution Date to the Holders of the Class A-PB, Class A-1, Class A-2, Class A-3 and Class A-PB Certificates pursuant to clauses (ii), (iii), (iv), (v) and (vi) above);


                                  (viii)      after the Class Principal Balance of the Class A-PB Certificates has been reduced to the Class A-PB Planned Principal Balance and after the Class Principal Balances of each of the Class A-1, Class A-2, Class A-3, Class A-PB and Class A-4 Certificates have been reduced to zero, pro rata, to distributions of principal to the Holders of the Class A-5 Certificates and the Class A-5FL Regular Interest, in an amount (not to exceed the Class Principal Balance of the Class A-5 Certificates or the Class A-5FL Regular Interest, respectively, outstanding immediately prior to such Distribution Date) equal to the entire Loan Group 1 Principal Distribution Amount and, after the Class
Principal Balance of the Class A-1A Certificates has been reduced to zero, the entire Loan Group 2 Principal Distribution Amount for such Distribution Date remaining after making any distributions required pursuant to clause (ix) below on such Distribution Date (in each case, net of any portion thereof distributed on such Distribution Date to the Holders of the Class A-PB, Class A-1, Class A-2, Class A-3 and Class A-4 Certificates pursuant to clauses (ii), (iii), (iv), (v), (vi) and (vii) above);


                                   (ix)       to distributions of principal to the Holders of the Class A-1A Certificates, in an amount (not to exceed the Class Principal Balance of the Class A-1A Certificates outstanding immediately prior to such Distribution Date) equal to the entire Loan Group 2 Principal Distribution Amount and, after the Class Principal Balances of the Class A-PB, Class A-1, Class A-2, Class A-3, Class A-4 and Class A-5 Certificates and the Class A-5FL Regular Interest have been reduced to zero, the entire Loan Group 1 Principal Distribution Amount for such Distribution Date remaining after making any distributions required pursuant to clauses (ii), (iii), (iv), (v), (vi), (vii) and
(viii) above;


                                   (x)        to distributions to the Holders of the Class A-PB Certificates, the Class A-1 Certificates, the Class A-2 Certificates, the Class A-3 Certificates, the Class A-4 Certificates, the Class A-5 Certificates and the Class A-1A Certificates and the Class A-5FL Regular Interest, pro rata as among such Classes of Certificates, in accordance with, in an amount equal to, and in reimbursement of, all Realized Losses and Additional Trust Fund Expenses, if any, previously allocated to each such Class of Certificates and not previously reimbursed;


                                   (xi)       to distributions of interest to the Holders of the Class A-M Certificates, in an amount equal to all Distributable Certificate Interest in respect of such Class of Certificates for such Distribution Date (net of any portion thereof distributed on such Distribution Date to the Holders of any other Class of Certificates pursuant to any prior clause of this Section 4.01(a));


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                                   (xii)      after the Class Principal Balances of the Class A Certificates (other than the Class A-5FL Certificates) and the Class A-5FL Regular Interest have been reduced to zero, to distributions of principal to the Holders of the Class A-M Certificates, in an amount (not to exceed the Class Principal Balance of the Class A-M Certificates outstanding immediately prior to such Distribution Date) equal to the Principal Distribution Amount for such Distribution Date (net of any portion thereof distributed on such Distribution Date to the Holders of any other Class of Certificates and/or Regular Interest pursuant to any prior clause of this Section 4.01(a));


                                   (xiii)     to distributions to the Holders of the Class A–M Certificates, in an amount equal to, and in reimbursement of, all Realized Losses and Additional Trust Expenses, if any, previously allocated to the Class A-M Certificates and not previously reimbursed;


                                   (xiv)     to distributions of interest to the Holders of the Class A-J Certificates in an amount equal to all Distributable Certificate Interest in respect of such Class of Certificates for such Distribution Date and, to the extent not previously paid, for all prior Distribution Dates;


                                   (xv)      after the Class Principal Balances of the Class A Certificates (other than the Class A-5FL Certificates) and the Class A-5FL Regular Interest and the Class A-M Certificates have been reduced to zero, to distributions of principal to the Holders of the Class A-J Certificates, in an amount (not to exceed the Class Principal Balance of the Class A-J Certificates outstanding immediately prior to such Distribution Date) equal to the entire Principal Distribution Amount for such Distribution Date (net of any portion thereof distributed on such Distribution Date to the Holders of any other Class of Certificates and/or Regular Interest pursuant to any prior clause of this Section 4.01(a));


                                   (xvi)     to distributions to the Holders of the Class A-J Certificates, in an amount equal to, and in reimbursement of, all Realized Losses and Additional Trust Fund Expenses, if any, previously allocated to the Class A-J Certificates and not previously reimbursed;


                                   (xvii)    to distributions of interest to the Holders of the Class B Certificates in an amount equal to all Distributable Certificate Interest in respect of such Class of Certificates for such Distribution Date and, to the extent not previously paid, for all prior Distribution Dates;



                                   (xviii)   after
the Class Principal Balance of the Class A-J Certificates has been reduced
to zero, to distributions of principal to the Holders of the Class B
Certificates, in an amount (not to exceed the Class Principal Balance of the
Class B Certificates outstanding immediately prior to such Distribution
Date) equal to the entire Principal Distribution Amount for such Distribution
Date (net of any portion thereof distributed on such Distribution Date to the
Holders of any other Class of Certificates and/or Regular Interest pursuant to
any prior clause of this Section 4.01(a));


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                                   (xix)     to distributions to the Holders of the Class B Certificates, in an amount equal to, and in reimbursement of, all Realized Losses and Additional Trust Fund Expenses, if any, previously allocated to the Class B Certificates and not previously reimbursed;


                                   (xx)      to distributions of interest to the Holders of the Class C Certificates in an amount equal to all Distributable Certificate Interest in respect of such Class of Certificates for such Distribution Date and, to the extent not previously paid, for all prior Distribution Dates;


                                   (xxi)     after the Class Principal Balance of the Class B Certificates has been reduced to zero, to distributions of principal to the Holders of the Class C Certificates, in an amount (not to exceed the Class Principal Balance of the Class C Certificates outstanding immediately prior to such Distribution Date) equal to the entire Principal Distribution Amount for such Distribution Date (net of any portion thereof distributed on such Distribution Date to the Holders of any other Class of Certificates and/or Regular Interest pursuant to any prior clause of this Section 4.01(a));


                                   (xxii)    to distributions to the Holders of the Class C Certificates, in an amount equal to, and in reimbursement of, all Realized Losses and Additional Trust Fund Expenses, if any, previously allocated to the Class C Certificates and not previously reimbursed;


                                   (xxiii)   to distributions of interest to the Holders of the Class D Certificates, in an amount equal to all Distributable Certificate Interest in respect of the Class D Certificates for such Distribution Date and, to the extent not previously paid, for all prior Distribution Dates;


                                   (xxiv)   after the Class Principal Balance of the Class C Certificates has been reduced to zero, to distributions of principal to the Holders of the Class D Certificates, in an amount (not to exceed the Class Principal Balance of the Class D Certificates outstanding immediately prior to such Distribution Date) equal to the entire Principal Distribution Amount for such Distribution Date (net of any portion thereof distributed on such Distribution Date to the Holders of any other Class of Certificates and/or Regular Interest pursuant to any prior clause of this Section 4.01(a));


                                   (xxv)    to distributions to the Holders of the Class D Certificates, in an amount equal to, and in reimbursement of, all Realized Losses and Additional Trust Fund Expenses, if any, previously allocated to the Class D Certificates and not previously reimbursed;


                                   (xxvi)   to distributions of interest to the Holders of the Class E Certificates, in an amount equal to all Distributable Certificate Interest in respect of the Class E Certificates for such Distribution Date and, to the extent not previously paid, for all prior Distribution Dates;


                                   (xxvii)  after the Class Principal Balance of the Class D Certificates has been reduced to zero, to distributions of principal to the Holders of the Class E Certificates, in an amount (not to exceed the Class Principal Balance of the Class E Certificates outstanding immediately prior to such Distribution Date) equal to the entire Principal Distribution Amount for such Distribution Date (net of any portion thereof distributed on such Distribution Date to the Holders of any other Class of Certificates and/or Regular Interest pursuant to any prior clause of this Section 4.01(a));


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                                   (xxviii) to distributions to the Holders of the Class E Certificates, in an amount equal to, and in reimbursement of, all Realized Losses and Additional Trust Fund Expenses, if any, previously allocated to the Class E Certificates and not previously reimbursed;


                                   (xxix)   to distributions of interest to the Holders of the Class F Certificates, in an amount equal to all Distributable Certificate Interest in respect of the Class F Certificates for such Distribution Date and, to the extent not previously paid, for all prior Distribution Dates;


                                   (xxx)    after the Class Principal Balance of the Class E Certificates has been reduced to zero, to distributions of principal to the Holders of the Class F Certificates, in an amount (not to exceed the Class Principal Balance of the Class F Certificates outstanding immediately prior to such Distribution Date) equal to the entire Principal Distribution Amount for such Distribution Date (net of any portion thereof distributed on such Distribution Date to the Holders of any other Class of Certificates and/or Regular Interest pursuant to any prior clause of this Section 4.01(a));


                                   (xxxi)   to distributions to the Holders of the Class F Certificates, in an amount equal to, and in reimbursement of, all Realized Losses and Additional Trust Fund Expenses, if any, previously allocated to the Class F Certificates and not previously reimbursed;


                                   (xxxii)  to distributions of interest to the Holders of the Class G Certificates, in an amount equal to all Distributable Certificate Interest in respect of the Class G Certificates for such Distribution Date and, to the extent not previously paid, for all prior Distribution Dates;


                                   (xxxiii) after the Class Principal Balance of the Class F Certificates has been reduced to zero, to distributions of principal to the Holders of the Class G Certificates, in an amount (not to exceed the Class Principal Balance of the Class G Certificates outstanding immediately prior to such Distribution Date) equal to the entire Principal Distribution Amount for such Distribution Date (net of any portion thereof distributed on such Distribution Date to the Holders of any other Class of Certificates and/or Regular Interest pursuant to any prior clause of this Section 4.01(a));


                                   (xxxiv) to distributions to the Holders of the Class G Certificates, in an amount equal to, and in reimbursement of, all Realized Losses and Additional Trust Fund Expenses, if any, previously allocated to the Class G Certificates and not previously reimbursed;


                                   (xxxv)  to distributions of interest to the Holders of Class H Certificates, in an amount equal to all Distributable Certificate Interest in respect of the Class H Certificates for such Distribution Date and, to the extent not previously paid, for all prior Distribution Dates;



                                   (xxxvi) after
the Class Principal Balance of the Class G Certificates has been reduced to
zero, to distributions of principal to the Holders of the Class H
Certificates, in an amount (not to exceed the Class Principal Balance of the
Class H Certificates outstanding



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 immediately prior to such Distribution
Date) equal to the entire Principal Distribution Amount for such Distribution
Date (net of any portion thereof distributed on such Distribution Date to the
Holders of any other Class of Certificates and/or Regular Interest pursuant to
any prior clause of this Section 4.01(a));


                                   (xxxvii)  to
distributions to the Holders of the Class H Certificates in an amount equal
to, and in reimbursement of, all Realized Losses and Additional Trust Fund
Expenses, if any, previously allocated to the Class H Certificates and not
previously reimbursed;


                                   (xxxviii) to
distributions of interest to the Holders of the Class J Certificates, in an
amount equal to all Distributable Certificate Interest in respect of the
Class J Certificates for such Distribution Date and, to the extent not
previously paid, for all prior Distribution Dates;


                                   (xxxix)   after
the Class Principal Balance of the Class H Certificates has been reduced to
zero, to distributions of principal to the Holders of the Class J
Certificates, in an amount (not to exceed the Class Principal Balance of the
Class J Certificates outstanding immediately prior to such Distribution
Date) equal to the entire Principal Distribution Amount for such Distribution
Date (net of any portion thereof distributed on such Distribution Date to the
Holders of any other Class of Certificates and/or Regular Interest pursuant to
any prior clause of this Section 4.01(a));


                                   (xl)         to
distributions to the Holders of the Class J Certificates, in an amount
equal to, and in reimbursement of, all Realized Losses and Additional Trust Fund
Expenses, if any, previously allocated to the Class J Certificates and not
previously reimbursed;


                                   (xli)        to
distributions of interest to the Holders of the Class K Certificates, in an
amount equal to all Distributable Certificate Interest in respect of the
Class K Certificates for such Distribution Date and, to the extent not
previously paid, for all prior Distribution Dates;


                                   (xlii)       after
the Class Principal Balance of the Class J Certificates has been reduced to
zero, to distributions of principal to the Holders of the Class K
Certificates, in an amount (not to exceed the Class Principal Balance of the
Class K Certificates outstanding immediately prior to such Distribution
Date) equal to the entire Principal Distribution Amount for such Distribution
Date (net of any portion thereof distributed on such Distribution Date to the
Holders of any other Class of Certificates and/or Regular Interest pursuant to
any prior clause of this Section 4.01(a));


                                   (xliii)      to
distributions to the Holders of the Class K Certificates, in an amount
equal to, and in reimbursement of, all Realized Losses and Additional Trust Fund
Expenses, if any, previously allocated to the Class K Certificates and not
previously reimbursed;


                                   (xliv)      to
distributions of interest to the Holders of the Class L Certificates, in an
amount equal to all Distributable Certificate Interest in respect of the
Class L Certificates for such Distribution Date and, to the extent not
previously paid, for all prior Distribution Dates;


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                                   (xlv)     after the Class Principal Balance of the Class K Certificates has been reduced to zero, to distributions of principal to the Holders of the Class L Certificates, in an amount (not to exceed the Class Principal Balance of the Class L Certificates outstanding immediately prior to such Distribution Date) equal to the entire Principal Distribution Amount for such Distribution Date (net of any portion thereof distributed on such Distribution Date to the Holders of any other Class of Certificates and/or Regular Interest pursuant to any prior clause of this Section 4.01(a));


                                   (xlvi)    to distributions to the Holders of the Class L Certificates, in an amount equal to, and in reimbursement of, all Realized Losses and Additional Trust Fund Expenses, if any, previously allocated to the Class L Certificates and not previously reimbursed;


                                   (xlvii)   to distributions of interest to the Holders of the Class M Certificates, in an amount equal to all Distributable Certificate Interest in respect of the Class M Certificates for such Distribution Date and, to the extent not previously paid, for all prior Distribution Dates;


                                   (xlviii)  after the Class Principal Balance of the Class L Certificates has been reduced to zero, to distributions of principal to the Holders of the Class M Certificates, in an amount (not to exceed the Class Principal Balance of the Class M Certificates outstanding immediately prior to such Distribution Date) equal to the entire Principal Distribution Amount for such Distribution Date (net of any portion thereof distributed on such Distribution Date to the Holders of any other Class of Certificates and/or Regular Interest pursuant to any prior clause of this Section 4.01(a));


                                   (xlix)    to distributions to the Holders of the Class M Certificates, in an amount equal to, and in reimbursement of, all Realized Losses and Additional Trust Fund Expenses, if any, previously allocated to the Class M Certificates and not previously reimbursed;


                                   (l)         to distributions of interest to the Holders of the Class N Certificates, in an amount equal to all Distributable Certificate Interest in respect of the Class N Certificates for such Distribution Date and, to the extent not previously paid, for all prior Distribution Dates;


                                   (li)        after the Class Principal Balance of the Class M Certificates has been reduced to zero, to distributions of principal to the Holders of the Class N Certificates, in an amount (not to exceed the Class Principal Balance of the Class N Certificates outstanding immediately prior to such Distribution Date) equal to the entire Principal Distribution Amount for such Distribution Date (net of any portion thereof distributed on such Distribution Date to the Holders of any other Class of Certificates and/or Regular Interest pursuant to any prior clause of this Section 4.01(a));


                                   (lii)       to distributions to the Holders of the Class N Certificates, in an amount equal to, and in reimbursement of, all Realized Losses and Additional Trust Fund Expenses, if any, previously allocated to the Class N Certificates and not previously reimbursed;


                                   (liii)      to distributions of interest to the Holders of the Class O Certificates, in an amount equal to all Distributable Certificate Interest in respect of the Class O Certificates for such Distribution Date and, to the extent not previously paid, for all prior Distribution Dates;


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                                   (liv)      after the Class Principal Balance of the Class N Certificates has been reduced to zero, to distributions of principal to the Holders of the Class O Certificates, in an amount (not to exceed the Class Principal Balance of the Class O Certificates outstanding immediately prior to such Distribution Date) equal to the entire Principal Distribution Amount for such Distribution Date (net of any portion thereof distributed on such Distribution Date to the Holders of any other Class of Certificates and/or Regular Interest pursuant to any prior clause of this Section 4.01(a));


                                   (lv)       to distributions to the Holders of the Class O Certificates, in an amount equal to, and in reimbursement of, all Realized Losses and Additional Trust Fund Expenses, if any, previously allocated to the Class O Certificates and not previously reimbursed;


                                   (lvi)      to distributions of interest to the Holders of the Class P Certificates, in an amount equal to all Distributable Certificate Interest in respect of the Class P Certificates for such Distribution Date and, to the extent not previously paid, for all prior Distribution Dates;


                                   (lvii)     after the Class Principal Balance of the Class O Certificates has been reduced to zero, to distributions of principal to the Holders of the Class P Certificates, in an amount (not to exceed the Class Principal Balance of the Class P Certificates outstanding immediately prior to such Distribution Date) equal to the entire Principal Distribution Amount for such Distribution Date (net of any portion thereof distributed on such Distribution Date to the Holders of any other Class of Certificates and/or Regular Interest pursuant to any prior clause of this Section 4.01(a));


                                   (lviii)    to distributions to the Holders of the Class P Certificates, in an amount equal to, and in reimbursement of, all Realized Losses and Additional Trust Fund Expenses, if any, previously allocated to the Class P Certificates and not previously reimbursed;


                                   (lix)      to distributions of interest to the Holders of the Class Q Certificates, in an amount equal to all Distributable Certificate Interest in respect of the Class Q Certificates for such Distribution Date and, to the extent not previously paid, for all prior Distribution Dates;


                                   (lx)       after the Class Principal Balance of the Class P Certificates has been reduced to zero, to distributions of principal to the Holders of the Class Q Certificates, in an amount (not to exceed the Class Principal Balance of the Class Q Certificates outstanding immediately prior to such Distribution Date) equal to the entire Principal Distribution Amount for such Distribution Date (net of any portion thereof distributed on such Distribution Date to the Holders of any other Class of Certificates and/or Regular Interest pursuant to any prior clause of this Section 4.01(a));


                                   (lxi)      to distributions to the Holders of the Class Q Certificates, in an amount equal to, and in reimbursement of, all Realized Losses and Additional Trust Fund Expenses, if any, previously allocated to the Class Q Certificates and not previously reimbursed;


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                                   (lxii)     to distributions of interest to the Holders of the Class S Certificates, in an amount equal to all Distributable Certificate Interest in respect of the Class S Certificates for such Distribution Date and, to the extent not previously paid, for all prior Distribution Dates;


                                   (lxiii)    after the Class Principal Balance of the Class Q Certificates has been reduced to zero, to distributions of principal to the Holders of the Class S Certificates, in an amount (not to exceed the Class Principal Balance of the Class S Certificates outstanding immediately prior to such Distribution Date) equal to the entire Principal Distribution Amount for such Distribution Date (net of any portion thereof distributed on such Distribution Date to the Holders of any other Class of Certificates and/or Regular Interest pursuant to any prior clause of this Section 4.01(a));


                                   (lxiv)    to distributions to the Holders of the Class S Certificates, in an amount equal to, and in reimbursement of, all Realized Losses and Additional Trust Fund Expenses, if any, previously allocated to the Class S Certificates and not previously reimbursed; 


                                   (lxv)     to distributions of interest to the Holders of the Class T Certificates, in an amount equal to all Distributable Certificate Interest in respect of the Class T Certificates for such Distribution Date and, to the extent not previously paid, for all prior Distribution Dates;


                                   (lxvi)    after the Class Principal Balance of the Class S Certificates has been reduced to zero, to distributions of principal to the Holders of the Class T Certificates, in an amount (not to exceed the Class Principal Balance of the Class T Certificates outstanding immediately prior to such Distribution Date) equal to the entire Principal Distribution Amount for such Distribution Date (net of any portion thereof distributed on such Distribution Date to the Holders of any other Class of Certificates and/or Regular Interest pursuant to any prior clause of this Section 4.01(a));


                                   (lxvii)   to distributions to the Holders of the Class T Certificates, in an amount equal to, and in reimbursement of, all Realized Losses and Additional Trust Fund Expenses, if any, previously allocated to the Class T Certificates and not previously reimbursed; 


                                   (lxviii)  to distributions of interest to the Holders of the Class U Certificates, in an amount equal to all Distributable Certificate Interest in respect of the Class U Certificates for such Distribution Date and, to the extent not previously paid, for all prior Distribution Dates;


                                   (lxix)    after the Class Principal Balance of the Class T Certificates has been reduced to zero, to distributions of principal to the Holders of the Class U Certificates, in an amount (not to exceed the Class Principal Balance of the Class U Certificates outstanding immediately prior to such Distribution Date) equal to the entire Principal Distribution Amount for such Distribution Date (net of any portion thereof distributed on such Distribution Date to the Holders of any other Class of Certificates and/or Regular Interest pursuant to any prior clause of this Section 4.01(a));


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                                   (lxx)     to distributions to the Holders of the Class U Certificates, in an amount equal to, and in reimbursement of, all Realized Losses and Additional Trust Fund Expenses, if any, previously allocated to the Class U Certificates and not previously reimbursed; and


                                   (lxxi)    to make distributions to the Holders of the Class R-II Certificates, in an amount equal to the excess, if any, of (A) the aggregate distributions deemed made in respect of the REMIC I Regular Interests on such Distribution Date pursuant to Section 4.01(h), over (B) the aggregate distributions made in respect of the Regular Certificates on such Distribution Date pursuant to clauses (i) through (lxiv) above;


provided, that on each Distribution Date after the aggregate of Class Principal Balances of each Class of Subordinated Certificates have been reduced to zero, but any two or more of the Class A-1 Certificates, the Class A-2 Certificates, the Class A-3 Certificates, the Class A-PB Certificates, the Class A-4 Certificates, the Class A-5 Certificates and the Class A-1A Certificates and the Class A-5FL Regular Interest remain outstanding, the payments of principal to be made as contemplated by clauses (iii) through (ix) above with respect to the Class A Certificates and Regular Interest will be made to the Holders of the respective Classes of such Class A Certificates (other than the Class A-5FL Certificates) and the Class A-5FL Regular Interest up to an amount equal to, and pro rata as among such Classes in accordance with, the respective then outstanding Class Principal Balances of such Classes
of Certificates and the Class A-5FL Regular Interest and without regard to the Principal Distribution Amount for such Distribution Date and without regard to Loan Group.  Distributions in reimbursement of Realized Losses and Additional Trust Fund Expenses previously allocated to a Class of Certificates and Regular Interest shall not constitute distributions of principal and shall not result in reduction of the related Class Principal Balance.


                    All distributions of interest made in respect of the Class IO Certificates on any Distribution Date pursuant to clause (i) above, shall be deemed to have been made in respect of all the Components of such Class, pro rata in accordance with the respective amounts of interest that would be payable on such Components on such Distribution Date based on the Strip Rate of such Component multiplied by its Component Notional Amount, together with any amounts thereof remaining unpaid from previous Distribution Dates.


                    (b)          On each Distribution Date, the Paying Agent shall withdraw from the Distribution Account any amounts that represent Prepayment Premiums and/or Yield Maintenance Charges actually collected on the Mortgage Loans and any REO Loans during the related Collection Period and shall be deemed to distribute such Prepayment Premiums and/or Yield Maintenance Charges from REMIC I to REMIC II in respect of REMIC I Regular Interest LA-1 (whether or not such Class has received all distributions of interest and principal to which it is entitled), and then shall distribute each such Prepayment Premium and/or Yield Maintenance Charge, as additional yield, as follows:


                                   (i)         First, to the Holders of the respective Classes of Regular Certificates (other than any Excluded Class thereof), the Class A-5FL Regular Interest entitled to distributions of principal pursuant to Section 4.01(a) on such Distribution Date, up to an amount equal to, and pro rata based on, the Additional Yield Amounts for each such Class of Certificates and Regular Interest for such Distribution Date; and


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                                   (ii)        Second, to the Holders of the Class IO Certificates, to the extent of any remaining portion of such Yield Maintenance Charges and/or Prepayment Premiums.


                    Any distribution of Additional Yield Amounts in respect of the Class of A-5FL Regular Interest shall be paid to the Swap Counterparty or to the Holders of the Class A-5FL Certificates, as applicable, as specified in Section 4.01(j)(ii).


                                   (iii)       On each Distribution Date, the Paying Agent shall withdraw from the Additional Interest Account any amounts that represent (A) Additional Interest actually collected during the related Collection Period on the ARD Loans and any related REO Loans and shall distribute such amounts among the Holders of the Class Z Certificates pro rata in accordance with the respective Percentage Interests of such Class, and (B) interest and investment income, if any, earned in respect of amounts held in the Additional Interest Account as provided in Section 3.06, but only to the extent of the Net Investment Earnings with respect to such account for the related Distribution Date, and shall distribute such amount to the Trustee as
additional compensation.


                    (c)          All distributions made with respect to each Class on each Distribution Date shall be allocated pro rata among the outstanding Certificates in such Class based on their respective Percentage Interests.  Except as otherwise provided below, all such distributions with respect to each Class on each Distribution Date shall be made to the Certificateholders of the respective Class of record at the close of business on the related Record Date and shall be made by wire transfer of immediately available funds to the account of any such Certificateholder at a bank or other entity having appropriate facilities therefor, if such Certificateholder shall have provided the Paying Agent with wiring instructions no less than 5 Business Days prior to the related Record
Date (which wiring instructions may be in the form of a standing order
applicable to all subsequent Distribution Dates), or otherwise by check mailed
to the address of such Certificateholder as it appears in the Certificate
Register.  The final distribution on each Certificate (determined, in the
case of a Sequential Pay Certificate, without regard to any possible future
reimbursement of any Realized Loss or Additional Trust Fund Expense previously
allocated to such Certificate, but taking into account possible future
distributions of Additional Interest) will be made in a like manner, but only
upon presentation and surrender of such Certificate at the offices of the
Certificate Registrar or such other location specified in the notice to
Certificateholders of such final distribution.  Prior to any termination of
the Trust Fund pursuant to Section 9.01, any distribution that is to be
made with respect to a Certificate in reimbursement of a Realized Loss or
Additional Trust Fund Expense previously allocated thereto,  which
reimbursement is to occur after the date on which such Certificate is
surrendered as contemplated by the preceding sentence, will be made by check
mailed to the address of the Certificateholder that surrendered such Certificate
as such address last appeared in the Certificate Register or to any other
address of which the Paying Agent was subsequently notified in writing.  If
such check is returned to the Paying Agent, the Paying Agent, directly or
through an agent, shall take such reasonable steps to contact the related Holder
and deliver such check as it shall deem appropriate.  Any funds in respect
of a check returned to the Paying Agent shall be set aside by the Paying Agent
and held uninvested in trust and credited to the account of the


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appropriate Holder. The costs and expenses of locating the appropriate Holder and holding such funds shall be paid out of such funds.  No interest shall accrue or be payable to any former Holder on any amount held in trust hereunder.  If the Paying Agent has not, after having taken such reasonable steps, located the related Holder by the second anniversary of the initial sending of a check, the Paying Agent shall, subject to applicable law, distribute the unclaimed funds to the Holders of the Class R-II Certificates.


                    (d)          Each distribution with respect to a Book-Entry Certificate shall be paid to the Depository, as Holder thereof, and the Depository shall be responsible for crediting the amount of such distribution to the accounts of its Depository Participants in accordance with its normal procedures.  Each Depository Participant shall be responsible for disbursing such distribution to the related Certificate Owners that it represents and to each indirect participating brokerage firm (a “brokerage firm” or “indirect participating firm”) for which it acts as agent.  Each brokerage firm shall be responsible for disbursing funds to the related Certificate Owners that it represents.  None of the Trustee, the Paying Agent, the Certificate Registrar, the
Depositor or the Master Servicer shall have any responsibility therefor except as otherwise provided by this Agreement or applicable law.  The Trustee and the Depositor shall perform their respective obligations under a Letter of Representations among the Depositor, the Trustee and the Initial Depository dated as of the Closing Date.


                    (e)          The rights of the Certificateholders to receive distributions from the proceeds of the Trust Fund in respect of the Certificates, and all rights and interests of the Certificateholders in and to such distributions, shall be as set forth in this Agreement.  Neither the Holders of any Class of Certificates nor any party hereto shall in any way be responsible or liable to the Holders of any other Class of Certificates in respect of amounts properly previously distributed on the Certificates.


                    (f)          Except as otherwise provided in Section 9.01, whenever the Paying Agent receives written notification of or expects that the final distribution with respect to any Class of Certificates (determined without regard to any possible future reimbursement of any Realized Loss or Additional Trust Fund Expense previously allocated to such Class of Certificates) will be made on the next Distribution Date, the Paying Agent shall, no later than 5 days after the related Determination Date, mail to each Holder of record on such date of such Class of Certificates a notice to the effect that:


                                   (i)         the Paying Agent expects that the final distribution with respect to such Class of Certificates will be made on such Distribution Date but only upon presentation and surrender of such Certificates at the office of the Certificate Registrar or at such other location therein specified, and


                                   (ii)        no interest shall accrue on such Certificates from and after such Distribution Date.


                    Any funds not distributed to any Holder or Holders of Certificates of such Class on such Distribution Date because of the failure of such Holder or Holders to tender their Certificates shall, on such date, be set aside and held uninvested in trust and credited to the account or accounts of the appropriate non-tendering Holder or Holders.  If any Certificates as to 


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which notice has been given pursuant to this Section 4.01(f) shall not have been surrendered for cancellation within six months after the time specified in such notice, the Paying Agent shall mail a second notice to the remaining non-tendering Certificateholders to surrender their Certificates for cancellation in order to receive the final distribution with respect thereto.  If within one year after the second notice all such Certificates shall not have been surrendered for cancellation, the Paying Agent, directly or through an agent, shall take such steps to contact the remaining non-tendering Certificateholders concerning the surrender of their Certificates as it shall deem appropriate.  The costs and expenses of holding such funds in trust and of contacting such Certificateholders following the first anniversary of the delivery of such second notice to the non-tendering Certificateholders shall be paid out of such funds.  No interest
shall accrue or be payable to any former Holder on any amount held in trust pursuant to this paragraph.  If all of the Certificates shall not have been surrendered for cancellation by the second anniversary of the delivery of the second notice, the Paying Agent shall, subject to applicable law, distribute to the Holders of the Class R-II Certificates all unclaimed funds and other assets which remain subject thereto.


                    (g)          Notwithstanding any other provision of this Agreement, the Paying Agent shall comply with all federal withholding requirements respecting payments made or received under the Swap Contracts and payments to Certificateholders of interest or original issue discount that the Paying Agent reasonably believes are applicable under the Code.  The Certificate Registrar shall promptly provide the Paying Agent with any IRS Forms W-9, W-8BEN, W-8IMY (and all appropriate attachments) or W-8ECI upon its receipt thereof.  The consent of Certificateholders shall not be required for such withholding.  If the Paying Agent does withhold any amount from interest or original issue discount payments or advances thereof to any Certificateholder pursuant to federal withholding requirements,
the Paying Agent shall indicate the amount withheld to such Certificateholders.  Such amounts shall be deemed to have been distributed to such Certificateholders for all purposes of this Agreement.



                    (h)          All
distributions made in respect of any Class of Sequential Pay Certificates (other
than the Class A-5FL Certificates) and the Class A-5FL Regular Interest and on
each Distribution Date pursuant to Section 4.01(a) or Section 9.01 shall be
deemed to have first been distributed, with respect to the Sequential Pay
Certificates (other than the Class A-5FL Certificates) and the Class A-5FL
Regular Interest from REMIC I to REMIC II in respect of its Corresponding REMIC
I Regular Interest or Interests set forth in the Preliminary Statement hereto;
provided that interest shall be deemed to have been distributed pro
rata among two or more Corresponding REMIC  I Regular Interests that
correspond to a Class of Sequential Pay Certificates (other than Class A-5FL
Certificates) and the Class A-5FL Regular Interest and all distributions made in
respect of the Class IO Certificates on each Distribution Date pursuant to
Section 4.01(a) or Section 9.01, and allocable to any particular Component of
such Class of Certificates (other than Class A-5FL Certificates) and the Class
A-5FL Regular Interest in accordance with the last paragraph of Section 4.01(a),
shall be deemed to have been first distributed from REMIC I to REMIC II in
respect of such Component’s Corresponding REMIC I Regular
Interest.




                    (i)          Reimbursements
of Realized Losses and Additional Trust Fund Expenses to the classes of
Sequential Pay Certificates (other than the Class A-5FL Certificates) and the
Class A-5FL Regular Interest shall be allocated to the corresponding REMIC I
Regular Interests




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in the same manner as distributions of principal specified above.  All
distributions of principal and reimbursements of Realized Losses and Additional
Trust Fund Expenses made in respect of any Class of Sequential Pay Certificates
(other than the Class A-5FL Certificates) and the Class A-5FL Regular Interest
on each Distribution Date pursuant to Section 4.01(a) shall be deemed to have
first been distributed from REMIC I to REMIC II in respect of its Corresponding
REMIC I Regular Interest set forth in the Preliminary Statement hereto;
provided, however, that distributions of reimbursements of
Realized Losses and Additional Trust Fund Expenses shall be made in sequential
order of the priority set forth in Section 4.01(h) for principal distributions,
up to the amount of Realized Losses and Additional Trust Fund Expenses
previously allocated to a particular Class of Certificates or Regular
Interest.  Any amounts remaining in REMIC I on any Distribution Date after
the foregoing distributions shall be distributed to the Holders of the Class R-I
Certificates.



                    (j)          (i) 
On each Distribution Date, to the extent of the Class A-5FL Available Funds for
such Distribution Date, the Paying Agent shall make distributions from the
Floating Rate Account in the following order of priority, satisfying in full, to
the extent required and possible, each priority before making any distributions
with respect to any succeeding priority:



                                            (A)          First,
to the Holders of the Class A-5FL Certificates, in respect of interest, up to an
amount equal to the Class A-5FL Interest Distribution Amount for such
Distribution Date;



                                            (B)          Second,
to the Holders of the Class A-5FL Certificates, in reduction of the Certificate
Balances thereof, an amount equal to the Class A-5FL Principal Distribution
Amount, until the outstanding Certificate Balance thereof has been reduced to
zero;


                                            (C)          Third, to the Holders of the Class A-5FL Certificates, until all Realized Losses and Additional Trust Fund Expenses previously allocated to the Class A-5FL Certificates (as a result of the allocation of Realized Losses and Additional Trust Fund Expenses to the Class A-5FL Regular Interest) but not previously reimbursed, have been reimbursed in full; and


                                            (D)          Fourth, to pay termination payments, if any, to the Swap Counterparty; and


                                            (E)          Fifth, any remaining amount to the Holders of the Class A-5FL Certificates.


                                   (ii)        So long as a Class A-5FL Distribution Conversion is not in effect, any Additional Yield Amounts paid on the Class A-5FL Regular Interest shall be payable to the Swap Counterparty pursuant to the terms of the Swap Contract on a net basis in addition to the Net Swap Payment specified in Section 3.30.  On each Distribution Date for which a Class A-5FL Distribution Conversion is in effect, any Additional Yield Amount paid on a Class A-5FL Regular Interest shall be distributed to the Holders of the Class A-5FL Certificates.


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                                   (iii)       Any termination payments due to the Swap Counterparty under the Swap Contract shall be payable solely from (1) amounts, if any, remaining in the Floating Rate Account after all other amounts have been paid to the Class A-5FL Regular Interest (including all principal amounts outstanding) and to the Class A-5FL Certificates pursuant to Section 4.01(j)(i)(A)-(C) and (2) to the extent of any payment made by a replacement swap counterparty to the Trust Fund in consideration for entering into such replacement swap contract, if any (less any costs and expenses incurred by the Trust Fund in connection with entering into such replacement swap contract).


                    (k)          On each Distribution Date, or with respect to a Companion Loan (other than the Non-Serviced Companion Loan) then included in a securitization, on each P&I Advance Date, the Companion Paying Agent (based upon a statement of the Master Servicer to be delivered to the Companion Paying Agent that specifies the amount required to be deposited in the Companion Distribution Account and any amounts payable to the Master Servicer from the Companion Distribution Account pursuant to this Section 4.01(k)) shall make withdrawals and payments from the Companion Distribution Account for the related Companion Loans in the following order of priority:


                                   (i)         to pay the Trustee or any of its directors, officers, employees or agents, as the case may be, any amounts payable or reimbursable to any such Person pursuant to Section 8.05, to the extent any such amounts relate solely to a Loan Pair;


                                   (ii)        to pay for the cost of the Opinions of Counsel sought by the Trustee as contemplated by Sections 9.02(a) and 10.01(h), to the extent any such costs relate to a Loan Pair;


                                   (iii)       to pay to the Master Servicer any amounts deposited by the Master Servicer in the Companion Distribution Account not required to be deposited therein;


                                   (iv)       on each Distribution Date, to pay all amounts remaining in the Companion Distribution Account to the Companion Holder; and


                                   (v)        to clear and terminate the Companion Distribution Account at the termination of this Agreement pursuant to Section 9.01.


                    All distributions from a Companion Distribution Account required hereunder shall be made by the Companion Paying Agent to the Companion Holder by wire transfer in immediately available funds to the account of such Companion Holder or an agent therefor appearing on the Companion Register on the related Record Date (or, if no such account so appears or information relating thereto is not provided at least 5 Business Days prior to the related Record Date, by check sent by first-class mail to the address of such Companion Holder or its agent appearing on the Companion Register).  Any such account shall be located at a commercial bank in the United States of America. For the avoidance of doubt, in no event shall the Companion Paying Agent withdraw from funds on deposit in the Companion Distribution Account any amounts allocable to the
Non-Serviced Pari Passu Companion Loans (other than Penalty Interest and late payment charges) to be applied to, or to provide reimbursement for, any costs, expenses, indemnities, losses or liabilities relating or allocable to any Mortgage Loan or Companion Loan other than the Non-Serviced Pari Passu Companion Loans or the Non-Serviced Mortgage Loans.


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                    To the extent amounts are payable to or in respect of the Trust Fund pursuant to this Section 4.01(k)(i) or (ii), the Companion Distribution Account shall be considered an “outside reserve fund” within the meaning of the REMIC Provisions, beneficially owned by the Companion Holder for federal income tax purposes, who shall be taxable on all reinvestment income thereon, and who shall be deemed to have received any amounts reimbursed from the Trust Fund to the Companion Distribution Account.


                    (l)          On each Distribution Date, the Paying Agent shall withdraw amounts from the Gain-on-Sale Reserve Account and shall distribute such amounts to reimburse the Holders of each Class of Sequential Pay Certificates (other than the Class A-5FL Certificates) and the Class A-5FL Regular Interest (in order of priority) up to an amount equal to all Realized Losses and Additional Trust Fund Expenses, if any, previously deemed allocated to such Classes and unreimbursed after application of the Available Distribution Amount for such Distribution Date.  Amounts paid from the Gain-on-Sale Reserve Account pursuant to the preceding sentence shall first be deemed to have been distributed to the Corresponding REMIC I Regular Interest(s) in reimbursement of Realized Losses and Additional
Trust Fund Expenses previously allocated thereto as provided in Section 4.01(i).  Amounts paid from the Gain-on-Sale Reserve Account will not reduce the Certificate Principal Balances of the Classes of Sequential Pay Certificates (other than the Class A-5FL Certificates) and the Class A-5FL Regular Interest receiving such distributions.  Any amounts remaining in the Gain-on-Sale Reserve Account after such distributions shall be applied to offset future Realized Losses and Additional Trust Fund Expenses and upon termination of the Trust Fund, any amounts remaining in the Gain-on-Sale Reserve Account shall be distributed to the Class R-I Certificateholders.


          Section 4.02     Statements to Certificateholders; CMSA Loan Periodic Update File.


                    (a)          On each Distribution Date, the Trustee shall make available on the Trustee’s Internet Website or, upon written request, forward by mail (or by electronic transmission acceptable to the recipient) to each Certificateholder, each initial Certificate Owner and (upon written request made to the Trustee) each subsequent Certificate Owner (as identified to the reasonable satisfaction of the Trustee), the Depositor, the Master Servicer, the Special Servicer, the Companion Holders, the Underwriters, the Swap Counterparty and each Rating Agency, a statement (a “Distribution Date Statement”), as to the distributions made on such Distribution Date, based on information provided to it by the Master Servicer and the Special Servicer, setting forth:


                                   (i)         the Record Date, the Determination Date, the Distribution Date and dates of the Interest Accrual Period for each Class of Certificates;


                                   (ii)        the amount of the distribution on such Distribution Date to the Holders of each Class of Regular Certificates and the Class A-5FL Certificates in reduction of the Class Principal Balance thereof;


                                   (iii)       the
amount of the distribution on such Distribution Date to the Holders of each
Class of Regular Certificates and the Class A-5FL Certificates allocable to
Distributable Certificate Interest or the Class A-5FL Interest Distribution
Amount , as applicable, and, with respect to the Class A-5FL Certificates
notification that the amount of interest 


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distribution thereon is equal to the
interest distribution amount with respect to the Class A-5FL Regular Interest
which is being paid as a result of a Class A-5FL Distribution Conversion and the
applicable Interest Distribution Amount;





                                   (iv)       the amount of the distribution on such Distribution Date to the Holders of each Class of Regular Certificates and the Class A-5FL Certificates allocable to Prepayment Premiums and/or Yield Maintenance Charges;


                                   (v)        the amount of the distribution on such Distribution Date to the Holders of each Class of Regular Certificates and the Class A-5FL Certificates in reimbursement of previously allocated Realized Losses and Additional Trust Fund Expenses;


                                   (vi)       the Available Distribution Amount and the Class A-5FL Available Funds for such Distribution Date and the sources of such amount;


                                   (vii)      (a) the aggregate amount of P&I Advances made in respect of such Distribution Date on a loan by loan basis with respect to the Mortgage Pool and on an aggregate basis with respect to each Loan Group pursuant to Section 4.03(a), including, without limitation, any amounts applied pursuant to Section 4.03(a)(ii), and the aggregate amount of unreimbursed P&I Advances with respect to the Mortgage Pool and each Loan Group that had been outstanding at the close of business on the related Determination Date and the aggregate amount of interest accrued and payable to the Master Servicer or the Trustee in respect of such unreimbursed P&I Advances in accordance with Section 4.03(d) as of the close


of business on the related Determination Date, (b) the aggregate amount of Servicing Advances on a loan by loan basis with respect to the Mortgage Pool and on an aggregate basis with respect to each Loan Group as of the close of business on the related Determination Date and (c) to the extent available, the foregoing information listed in this clause (vi) with respect to P&I Advances by the 2007-C30 Master Servicer, the Morgan Stanley 2007-IQ14 Master Servicer or the GECMC 2007-C1 Master Servicer, as applicable, on the Non-Serviced Mortgage Loans;


                                   (viii)     the aggregate unpaid principal balance of the Mortgage Pool and each Loan Group outstanding as of the close of business on the related Determination Date;


                                   (ix)       the aggregate Stated Principal Balance of the Mortgage Pool and each Loan Group outstanding immediately before and immediately after such Distribution Date;


                                   (x)        the number, aggregate unpaid principal balance, weighted average remaining term to maturity or Anticipated Repayment Date, each Mortgage Rate and weighted average Mortgage Rate of the Mortgage Loans in the Mortgage Pool and each Loan Group as of the close of business on the related Determination Date presented in distributional groups and/or incremental ranges acceptable to the Depositor in its reasonable discretion;


                                   (xi)       the number of Mortgage Loans and the aggregated Stated Principal Balance (immediately after such Distribution Date) (and with respect to each delinquent Mortgage Loan, a brief description of the reason for delinquency, if known by the Master Servicer or Special Servicer, as applicable, and provided to the Trustee) of Mortgage Loans (A) delinquent 30-59 days, (B) delinquent 60-89 days, (C) delinquent more than 89 days, (D) as to which foreclosure proceedings have been commenced, (E) with respect to each Specially 


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Serviced Mortgage Loan, the Mortgaged Property type and a brief description of the reason for delinquency and the Mortgage Loan’s status, if known by the Special Servicer, and provided to the Trustee, (F) to the actual knowledge of the Master Servicer or Special Servicer in bankruptcy proceedings and (G) any material changes to the information specified in Item 1100(b)(5) of Regulation AB, as amended;


                                   (xii)      as to each Mortgage Loan referred to in the preceding clause (x) above, (A) the loan number thereof, (B) the Stated Principal Balance thereof immediately following such Distribution Date, and (C) a brief description of any loan modification, extension or waiver (identifying the relevant loan number);


                                   (xiii)     with respect to any Mortgage Loan as to which a Liquidation Event occurred during the related Collection Period (other than a payment in full), (A) the loan number thereof, (B) the aggregate of all Liquidation Proceeds and other amounts received in connection with such Liquidation Event (separately identifying the portion thereof allocable to distributions on the Certificates), and (C) the amount of any Realized Loss in connection with such Liquidation Event;


                                   (xiv)     with respect to any REO Property included in the Trust Fund as to which a Final Recovery Determination was made during the related Collection Period, (A) the loan number of the related Mortgage Loan, (B) the aggregate of all Liquidation Proceeds and other amounts received in connection with such Final Recovery Determination (separately identifying the portion thereof allocable to distributions on the Certificates), and (C) the amount of any Realized Loss in respect of the related REO Property, in connection with such Final Recovery Determination;


                                   (xv)      the Accrued Certificate Interest and Distributable Certificate Interest in respect of each Class of Regular Certificates and the Class A-5FL Certificates for such Distribution Date;


                                   (xvi)     any unpaid Distributable Certificate Interest in respect of each Class of Regular Certificates and the Class A-5FL Certificates after giving effect to the distributions made on such Distribution Date;


                                   (xvii)    the Pass-Through Rate for each Class of Regular Certificates for such Distribution Date and the Class A-5FL Regular Interest;


                                   (xviii)   the Principal Distribution Amount;


                                   (xix)     the Principal Distribution Amount, the Loan Group 1 Principal Distribution Amount and the Loan Group 2 Principal Distribution Amount for such Distribution Date, separately identifying the respective components thereof (and, in the case of any Principal Prepayment or other unscheduled collection of principal received during the related Collection Period, the loan number for the related Mortgage Loan and the amount of such prepayment or other collection of principal);


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                                   (xx)      the aggregate of all Realized Losses incurred during the related Collection Period and all Additional Trust Fund Expenses incurred during the related Collection Period;


                                   (xxi)     the aggregate of all Realized Losses and Additional Trust Fund Expenses that were allocated to each Class of Certificates on such Distribution Date;


                                   (xxii)    the Class Principal Balance of each Class of Regular Certificates (other than the Class IO Certificates) and the Notional Amounts of the Class IO Certificates immediately before and immediately after such Distribution Date, separately identifying any reduction therein due to the allocation of Realized Losses and Additional Trust Fund Expenses on such Distribution Date;


                                   (xxiii)   the Certificate Factor for each Class of Regular Certificates and the Class of A-5FL Certificates immediately following such Distribution Date;


                                   (xxiv)   the aggregate amount of interest on P&I Advances paid to the Master Servicer and the Trustee (and, if applicable, the 2007-C30 Master Servicer, the Morgan Stanley 2007-IQ14 Master Servicer and/or the GECMC 2007-C1 Master Servicer), with respect to the Mortgage Pool and each Loan Group during the related Collection Period in accordance with Section 4.03(d);


                                   (xxv)    the aggregate amount of interest on Servicing Advances paid to the Master Servicer, the Trustee and the Special Servicer (and, if applicable, the 2007-C30 Master Servicer, the Morgan Stanley 2007-IQ14 Master Servicer, the Morgan Stanley 2007-IQ14 Special Servicer, the GECMC 2007-C1 Master Servicer and the GECMC 2007-C1 Special Servicer, as the case may be), during the related Collection Period in accordance with Section 3.03(d) with respect to the Mortgage Pool and each Loan Group;


                                   (xxvi)   the aggregate amount of (i) Servicing Fees paid to the Master Servicer, (ii) the Servicing Fees paid to the Special Servicer, and (iii) Trustee Fees paid to the Trustee during the related Collection Period;


                                   (xxvii)  the loan number for each Required Appraisal Mortgage Loan and any related Appraisal Reduction Amount as of the related Determination Date;


                                   (xxviii) the loan number for each Mortgage Loan which has experienced a breach of the representations and warranties, including identification of the applicable representation and warranty, given with respect to a Mortgage Loan by the applicable Mortgage Loan Seller, as provided by the Master Servicer or the Depositor;


                                   (xxix)   the original and thereafter, the current credit support levels for each Class of Regular Certificates and the Class A-5FL Certificates;


                                   (xxx)    the original and thereafter, the current ratings for each Class of Regular Certificates and the Class A-5FL Certificates;


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                                   (xxxi)     the
aggregate amount of Prepayment Premiums and Yield Maintenance Charges with
respect to the Mortgage Pool and each Loan Group collected during the related
Collection Period;


                                   (xxxii)    the
amounts, if any, actually distributed with respect to the Class Z
Certificates, Class R-I Certificates or Class R-II Certificates on
such Distribution Date;


                                   (xxxiii)   the
value of any REO Property included in the Trust Fund as of the end of the
related Collection Period, based on the most recent Appraisal or
valuation;


                                   (xxxiv)   identification
of any Mortgage Loan which has been substituted as a result of a breach of a
representation and warranty;


                                   (xxxv)    LIBOR
as calculated for the related Distribution Date and the next succeeding
Distribution Date;


                                   (xxxvi)   the
amounts received and paid in respect of the related Swap Contract;


                                   (xxxvii)  identification of any Rating Agency Trigger Event or Swap Default as of the
close of business on the last day of the immediately preceding calendar month
with respect to the Swap Contract;


                                   (xxxviii) the
amount of any (A) payment by the related Swap Counterparty as a termination
payment, (B) payment in connection with the acquisition of a replacement
interest rate swap contract and (C) collateral posted in connection with any
Rating Agency Trigger Event; and


                                   (xxxix)   the
amount of, and identification of, any interest due thereon (including without
limitation, any termination payment received in connection with the Swap
Contract).


                    In
the case of information to be furnished pursuant to clauses (i) through
(iv) above, the amounts shall be expressed as a dollar amount in the
aggregate for all Certificates of each applicable Class and per Single
Certificate.  In the case of information provided to the Trustee as a basis
for information to be furnished pursuant to clauses (x) through (xiii), and
(xxv) and (xxxiii) above, insofar as the underlying information is solely within
the control of the Special Servicer, the Trustee and the Master Servicer may,
absent manifest error, conclusively rely on the reports to be provided by the
Special Servicer.



                    The
Trustee may rely on and shall not be responsible absent manifest error for the
content or accuracy of any information provided by third parties for purposes of
preparing the Distribution Date Statement and may affix thereto any disclaimer
it deems appropriate in its reasonable discretion (without suggesting liability
on the part of any other party hereto).




                    The
Trustee shall, and the Master Servicer may, but is not required to, make
available on or prior to the Distribution Date in each month to the general
public (i) the Distribution Date Statement via their respective Internet
Websites, (ii) as a convenience for



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interested parties, the Prospectus Supplement, the Prospectus and this Agreement
on the Trustee’s and/or the Master Servicer’s respective Internet
Websites and (iii) any other items at the request of the Depositor via the
Trustee’s and/or the Master Servicer’s respective Internet
Websites.  In addition, the Trustee shall make available each month, on
each Distribution Date, the Unrestricted Servicer Reports, the CMSA Loan
Periodic Update File, the CMSA Loan Setup File, the CMSA Bond File, and the CMSA
Collateral Summary File to the general public on its Internet Website.  The
Trustee shall make available each month, on each Distribution Date, (i) the
Restricted Servicer Reports, (ii) the CMSA Property File and the CMSA
Financial File and (iii) the CMSA Reconciliation of Funds Report to any
Privileged Person and to any other Person upon the direction of the
Depositor.


                    Absent manifest error, none of the Master Servicer or the Special Servicer shall be responsible for the accuracy or completeness of any information supplied to it by a Mortgagor or third party (including, without limitation, the 2007-C30 Master Servicer, the 2007-C30 Special Servicer, the 2007-C30 Trustee, the Morgan Stanley 2007-IQ14 Master Servicer, the Morgan Stanley 2007-IQ14 Special Servicer, the Morgan Stanley 2007-IQ14 Trustee, the GECMC 2007-C1 Master Servicer, the GECMC 2007-C1 Special Servicer and the GECMC 2007-C1 Trustee, as the case may be) that is included in any reports, statements, materials or information prepared or provided by the Master Servicer or the Special Servicer, as applicable.  The Trustee shall not be responsible absent manifest error for the accuracy or completeness of any information supplied to it for delivery


pursuant to this Section 4.02(a).  Neither the Trustee, the Master Servicer nor the Special Servicer shall have any obligation to verify the accuracy or completeness of any information provided by a Mortgagor or third party (including, without limitation, the 2007-C30 Master Servicer, the 2007-C30 Special Servicer, the 2007-C30 Trustee, the Morgan Stanley 2007-IQ14 Master Servicer, the Morgan Stanley 2007-IQ14 Special Servicer, the Morgan Stanley 2007-IQ14 Trustee, the GECMC 2007-C1 Master Servicer, the GECMC 2007-C1 Special Servicer and the GECMC 2007-C1 Trustee, as the case may be).


                    Within a reasonable period of time after the end of each calendar year, the Trustee shall, upon request, send to each Person who at any time during the calendar year was a Certificateholder of record, a report summarizing on an annual basis (if appropriate) the items provided to Certificateholders pursuant to clauses (i), (ii), (iii) and (iv) of the description of “Distribution Date Statement” above and such other information as may be required to enable such Certificateholders to prepare their federal income tax returns.  Such information shall include the amount of original issue discount accrued on each Class of Certificates and information regarding the expenses of the Trust Fund.  Such requirement shall be deemed to be satisfied to the extent such information is provided pursuant to applicable requirements of


the Code from time to time in force.


                    If any Certificate Owner does not receive through the Depository or any of its Depository Participants any of the statements, reports and/or other written information described above in this Section 4.02(a) that it would otherwise be entitled to receive if it were the Holder of a Definitive Certificate evidencing its ownership interest in the related Class of Book Entry Certificates, then the Trustee shall mail or cause the mailing of or, provide electronically or cause the provision electronically of, such statements, reports and/or other written information to such Certificate Owner upon the request of such Certificate Owner made in writing to the Corporate Trust Office (accompanied by current verification of such Certificate Owner’s 


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ownership interest).  Such portion of such information as may be agreed upon by the Depositor and the Trustee shall be furnished to any such Person via overnight courier delivery or telecopy from the Trustee; provided that the cost of such overnight courier delivery or telecopy shall be an expense of the party requesting such information.


                    The Trustee shall only be obligated to deliver the statements, reports and information contemplated by this Section 4.02(a) to the extent it receives the necessary underlying information from the Special Servicer or Master Servicer, as applicable, and shall not be liable for any failure to deliver any thereof on the prescribed due dates, to the extent caused by failure to receive timely such underlying information.  Nothing herein shall obligate the Trustee or the Master Servicer to violate any applicable law prohibiting disclosure of information with respect to any Mortgagor and the failure of the Trustee, Master Servicer or the Special Servicer to disseminate information for such reason shall not be a breach hereof.  If, in connection with any Distribution Date, the Trustee has reported the amount of an anticipated
distribution to DTC based on the expected receipt of any Monthly Payment based on information set forth in a Report, or any other Monthly Payment, Balloon Payment or Prepayment expected to be paid on the last two Business Days preceding such Distribution Date, and the related Borrower fails to make such payments at such time, the Trustee will use commercially reasonable efforts to cause DTC to make the revised distribution on a timely basis on such Distribution Date, but there can be no assurance that DTC can do so.  The Trustee, the Master Servicer and the Special Servicer will not be liable or held responsible for any resulting delay (or claims by DTC resulting therefrom) in the making of such distribution to Certificateholders.  In addition, if the Trustee incurs out-of-pocket expenses, despite reasonable efforts to avoid or mitigate such expenses, as a consequence of a Borrower failing to make such payments, the Trustee will be entitled to reimbursement from the Trust Fund.  Any
such reimbursement will constitute “Additional Trust Fund Expenses.”


                    (b)          Not later than 2:00 p.m. New York City time on the second Business Day preceding each Distribution Date the Master Servicer shall furnish to the Trustee, the Depositor, the Special Servicer and the Underwriters, by electronic transmission (or in such other form to which the Trustee or the Depositor, as the case may be, and the Master Servicer may agree), with a hard copy (other than in the case of the Trustee) of such transmitted information to follow promptly, an accurate and complete CMSA Loan Periodic Update File providing the required information for the Mortgage Loans as of such Determination Date.  The Depositor shall provide the information necessary for the CMSA Loan Setup File on the Closing Date.  Not later than 2:00 p.m. New York City time on the second Business
Day preceding each Distribution Date, the Master Servicer shall deliver to the Trustee notice of the Discount Rate applicable to each Principal Prepayment received in the related Collection Period.


                    In the performance of its obligations set forth in Section 4.05, and its other duties hereunder, the Trustee (including in its capacity as Paying Agent) may conclusively rely on reports provided to it by the Master Servicer, and the Trustee shall not be responsible to recompute, recalculate or verify the information provided to it by the Master Servicer.  In the case of information to be furnished by the Master Servicer to the Trustee pursuant to this Section 4.02(b), insofar as such information is solely within the control of the Special Servicer, 2007-C30 Master Servicer, the 2007-C30 Special Servicer, the 2007-C30 Trustee, the Morgan Stanley 2007-IQ14 Master Servicer, the Morgan Stanley 2007-IQ14 Special Servicer, the 


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Morgan Stanley 2007-IQ14 Trustee, the GECMC 2007-C1 Master Servicer, the GECMC 2007-C1 Special Servicer and the GECMC 2007-C1 Trustee, as they case may be, the Master Servicer shall have no obligation to provide such information until it has received such information from such party, shall not be in default hereunder due to a delay in providing the CMSA Loan Periodic Update File caused by the such party’s failure to timely provide any report required under this Agreement and may, absent manifest error, conclusively rely on the reports to be provided by the such party.


          Section 4.03     P&I Advances.


                    (a)          On or before 1:30 p.m., New York City time, on each P&I Advance Date, the Master Servicer shall (i) apply amounts in the Certificate Account received after the end of the related Collection Period or otherwise held for future distribution to Certificateholders in subsequent months in discharge of its obligation to make P&I Advances or (ii) subject to Section 4.03(c) below, remit from its own funds to the Paying Agent for deposit into the Distribution Account, an amount equal to the aggregate amount of P&I Advances, if any, to be made in respect of the related Distribution Date.  The Master Servicer may also make P&I Advances in the form of any combination of clauses (i) and (ii) above aggregating the total amount of P&I Advances
to be made.  Any amounts held in the Certificate Account for future distribution and so used to make P&I Advances shall be appropriately reflected in the Master Servicer’s records and replaced by the Master Servicer by deposit in the Certificate Account on or before the next succeeding Determination Date (to the extent not previously replaced through the deposit of Late Collections of the delinquent principal and interest in respect of which such P&I Advances were made).  If, as of 3:00 p.m., New York City time, on any P&I Advance Date, the Master Servicer shall not have made any P&I Advance required to be made on such date pursuant to this Section 4.03(a) (and shall not have delivered to the Trustee the requisite Officer’s Certificate and documentation related to a determination of nonrecoverability of a P&I Advance), then the Trustee shall provide notice of such failure to a Servicing Officer of the Master Servicer by facsimile transmission sent to
telecopy (704) 715-0036 (or such alternative number provided by the Master Servicer to the Trustee in writing) and by telephone at (704) 593-7836 or (704) 593-7867 (or such alternative number provided by the Master Servicer to the Trustee in writing) as soon as possible, but in any event before 4:00 p.m., New York City time, on such P&I Advance Date.  If the Trustee does not receive the full amount of such P&I Advances by 10:00 a.m., New York City time, on the related Distribution Date, then, subject to Section 4.03(c), (i) the Trustee shall, no later than 11:00 a.m., New York City time, on such related Distribution Date make the portion of such P&I Advances that was required to be, but was not, made by the Master Servicer on such P&I Advance Date, and (ii) the provisions of Sections 7.01 and 7.02 shall apply.


                    (b)          The aggregate amount of P&I Advances to be made by the Master Servicer or the Trustee in respect of any Distribution Date shall, subject to Section 4.03(c) and Section 4.03(e) below, equal the aggregate of all Periodic Payments (other than Balloon Payments) and any Assumed Scheduled Payments, net of related Servicing Fees (and, in the case of the 2007-C30 Serviced Mortgage Loans, the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan and the GECMC 2007-C1 Serviced Mortgage Loan, servicing fees due to the 2007-C30 Master Servicer, the Morgan Stanley 2007-IQ14 Master Servicer or the GECMC 2007-C1 Master Servicer, as the case may be, to the extent not so otherwise paid pursuant to the related 


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Intercreditor Agreement) due or deemed due, as the case may be, in respect of the Mortgage Loans (including, without limitation, Balloon Mortgage Loans delinquent as to their respective Balloon Payments) and any REO Loans on their respective Due Dates during (or deemed to be during) the related Collection Period in each case, to the extent such amount was not paid by or on behalf of the related Mortgagor or otherwise collected (including as net income from REO Properties) as of the close of business on the last day of related Collection Period; provided that (x) if the Periodic Payment on any Mortgage Loan has been reduced in connection with a bankruptcy or similar proceeding involving the related Mortgagor or a modification, waiver or amendment granted or agreed to by the Special Servicer pursuant to Section 3.20, or if the final maturity on any Mortgage Loan shall be extended in connection with a bankruptcy or similar proceeding involving the
related Mortgagor or a modification, waiver or amendment granted or agreed to by the Special Servicer pursuant to Section 3.20, and the Periodic Payment due and owing during the extension period is less than the related Assumed Scheduled Payment, then the Master Servicer or the Trustee shall, as to such Mortgage Loan only, advance only the amount of the Periodic Payment due and owing after taking into account such reduction (net of related Servicing Fees) in the event of subsequent delinquencies thereon; and (y) if it is determined that an Appraisal Reduction Amount exists with respect to any Required Appraisal Mortgage Loan, then, with respect to the Distribution Date immediately following the date of such determination and with respect to each subsequent Distribution Date for so long as such Appraisal Reduction Amount exists with respect to such Required Appraisal Mortgage Loan, the Master Servicer or the Trustee will be required in the event of subsequent delinquencies to advance in
respect of such Mortgage Loan only an amount equal to the sum of (A) the amount of the interest portion of the P&I Advance that would otherwise be required without regard to this clause (y), minus the product of (1) such Appraisal Reduction Amount and (2) the per annum Pass-Through Rate (i.e., for any month, one-twelfth of the Pass-Through Rate) applicable to the Class of Certificates to which such Appraisal Reduction Amount is allocated pursuant to Section 4.04(d) and (B) the amount of the principal portion of the P&I Advance that would otherwise be required without regard to this clause (y).


                    (c)          Notwithstanding anything herein to the contrary, no P&I Advance shall be required to be made hereunder if such P&I Advance would, if made, constitute a Nonrecoverable P&I Advance.  The determination by the Master Servicer or the Special Servicer that the Master Servicer has made a Nonrecoverable P&I Advance or that any proposed P&I Advance, if made, would constitute a Nonrecoverable P&I Advance, shall be evidenced by an Officer’s Certificate delivered to the Trustee and the Depositor on or before the related P&I Advance Date, setting forth the basis for such determination, together with any other information, including Appraisals (the cost of which may be paid out of the Certificate Account pursuant to Section 3.05(a)) (or, if no such
Appraisal has been performed pursuant to this Section 4.03(c), a copy of an Appraisal of the related Mortgaged Property performed within the twelve months preceding such determination), related Mortgagor operating statements and financial statements, budgets and rent rolls of the related Mortgaged Properties, engineers’ reports, environmental surveys and any similar reports that the Master Servicer may have obtained consistent with the Servicing Standard and at the expense of the Trust Fund, that support such determination by the Master Servicer or the Special Servicer.  As soon as reasonably practical after making such determination, the Special Servicer shall report to the Master Servicer the Special Servicer’s determination as to whether each P&I Advance made with respect to any previous Distribution Date or required to be made with respect to such Distribution Date with respect to any Specially 


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Serviced Mortgage Loan or REO Loan is a Nonrecoverable P&I Advance.  The Master Servicer shall conclusively rely on such determination by the Special Servicer.  The Trustee (i) shall be entitled to rely, conclusively, on any determination by the Master Servicer and (ii) shall conclusively rely on any determination by the Special Servicer that a P&I Advance, if made, would be a Nonrecoverable Advance (and with respect to a P&I Advance, the Trustee shall rely on the Master Servicer’s determination that the P&I Advance would be a Nonrecoverable Advance if the Trustee determines that it does not have sufficient time to make such determination); provided, however, that, if the Master Servicer has failed to make a P&I Advance for reasons other than a determination by the Master Servicer or the Special Servicer that such P&I Advance would be Nonrecoverable Advance, the Trustee shall make such Advance within the time
periods required by Section 4.03(a) unless the Trustee, in accordance with the standard of care set forth in Section 8.01(a), makes a determination prior to the times specified in Section 4.03(a) that such P&I Advance would be a Nonrecoverable Advance.  The Trustee, in determining whether or not a P&I Advance previously made is, or a proposed P&I Advance, if made, would be, a Nonrecoverable Advance shall be subject to the standards set forth in Section 8.01(a) hereunder, including utilizing its good faith business judgment to make such determination.


                    (d)          In connection with the recovery by the Master Servicer or the Trustee of any P&I Advance out of the Certificate Account pursuant to Section 3.05(a), subject to the next sentence, the Master Servicer shall be entitled to pay itself or the Trustee, as the case may be, out of any amounts then on deposit in the Certificate Account, interest at the Reimbursement Rate in effect from time to time, compounded annually, accrued on the amount of such P&I Advance (to the extent made with its own funds) from the date made (provided, however, no such interest shall accrue during any grace period under a Mortgage Loan) to but not including the date of reimbursement, such interest to be payable, subject to the terms of the related Intercreditor Agreement with respect to


the related Loan Pair, first out of late payment charges and Penalty Interest received on the related Mortgage Loan or REO Property during the Collection Period in which such reimbursement is made and then from general collections on the Mortgage Loans then on deposit in the Certificate Account.  The Master Servicer shall reimburse itself or the Trustee, as applicable, for any outstanding P&I Advance made thereby as soon as practicable after funds available for such purpose have been received by the Master Servicer, and in no event shall interest accrue in accordance with this Section 4.03(d) on any P&I Advance as to which the corresponding payment of principal and interest or Late Collection was received by the Master Servicer on or prior to the related P&I Advance Date.


                    (e)          In no event shall the Master Servicer or the Trustee make a P&I Advance with respect to any Companion Loan.


                    (f)          None of the Master Servicer, the Paying Agent or the Trustee shall advance any amount due to be paid by the Swap Counterparty for distribution to the Class A-5FL Certificates.


                    (g)          Notwithstanding the foregoing, with respect to the Non-Serviced Mortgage Loans, the Master Servicer shall make its determination that it has made a P&I Advance on such Non-Serviced Mortgage Loan that is a Nonrecoverable P&I Advance or that any proposed P&I Advance, if made, would constitute a Nonrecoverable P&I Advance with 


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respect to such Non-Serviced Mortgage Loan independently of any determination made by any master servicer with respect to a commercial mortgage securitization holding any Non-Serviced Companion Loan under the related Non-Serviced Mortgage Loan Pooling Agreement in respect of such Non-Serviced Companion Loan.  If the Master Servicer determines that a proposed P&I Advance with respect to any such Non-Serviced Mortgage Loan if made, or any outstanding P&I Advance with respect to such Non-Serviced Mortgage Loan previously made, would be, or is, as applicable, a Nonrecoverable Advance, the Master Servicer shall provide any master servicer with respect to each securitization that holds a related Non-Serviced Companion Loan under the related Non-Serviced Mortgage Loan Pooling Agreement, written notice of such determination within one Business Day of the date of such determination.  If the Master Servicer receives written notice from any master servicer
with respect to a securitization that holds a related Non-Serviced Companion Loan under the related Non-Serviced Mortgage Loan Pooling Agreement that it has determined, with respect to the related Non-Serviced Companion Loan, that any proposed advance of principal and/or interest with respect to such Non-Serviced Companion Loan would be, or any outstanding advance of principal and/or interest is, a nonrecoverable advance of principal and/or interest, then such determination shall be binding on the Certificateholders and none of the Master Servicer or the Trustee shall make any additional P&I Advances with respect to the related Non-Serviced Mortgage Loan unless the Master Servicer has consulted with the other related master servicer(s) and they agree that circumstances with respect to the related Whole Loan have changed such that a proposed future P&I Advance in respect of the related Non-Serviced Mortgage Loan would not be a Nonrecoverable P&I Advance; provided, however, that the
determination of any master servicer with respect to a securitization that holds a related Non-Serviced Companion Loan under the related Non-Serviced Mortgage Loan Pooling Agreement shall not be binding on the Certificateholders, and the Master Servicer or the Trustee, as applicable, shall make its own determination of recoverability, in the event that the master servicer that made such determination is not approved as a master servicer by each of S&P and Moody’s.  Notwithstanding the foregoing, the Master Servicer shall continue to have the discretion provided in this Agreement to determine that any future P&I Advance or outstanding P&I Advance would be, or is, as applicable, a Nonrecoverable P&I Advance.  Once such a determination is made by the Master Servicer or the Master Servicer receives written notice of such determination by any of the other related master servicers, none of the Master Servicer or the Trustee shall make any additional P&I Advances with
respect to the applicable Non-Serviced Mortgage Loan until the Master Servicer has followed the process set forth in this paragraph.  In the event that the Master Servicer receives notice from any of Moody’s or S&P that it is no longer approved as a master servicer for commercial mortgage securitizations, it shall promptly notify the master servicer with respect to each securitization that holds a related Non-Serviced Companion Loan under the related Non-Serviced Mortgage Loan Pooling Agreement.  The Master Servicer shall not be required to abide by any determination of nonrecoverability by the master servicer with respect to each securitization that holds a related Non-Serviced Companion Loan under the related Non-Serviced Mortgage Loan Pooling Agreement if such master servicer is no longer approved as a servicer for commercial securitizations by Moody’s and S&P.


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          Section 4.04     Allocation of Realized Losses and Additional Trust Fund Expenses; Allocation of Certificate Deferred Interest; Allocation of Appraisal Reduction Amounts.


                    (a)          On each Distribution Date, following all distributions to be made on such date pursuant to Section 4.01, the Paying Agent shall allocate to the respective Classes of Sequential Pay Certificates (other than the Class A-5FL Certificates) and the Class A-5FL Regular Interest the aggregate of all Realized Losses and Additional Trust Fund Expenses that were incurred at any time following the Cut-Off Date through the end of the related Collection Period and in any event that were not previously allocated pursuant to this Section 4.04(a) on any prior Distribution Date, but only to the extent that (i) the aggregate Certificate Principal Balance of the Sequential Pay Certificates (other than the Class A-5FL Certificates) and the Class A-5FL Regular Interest as of such
Distribution Date (after taking into account all of the distributions made on such Distribution Date pursuant to Section 4.01), exceeds (ii) the aggregate Stated Principal Balance of the Mortgage Pool that will be outstanding immediately following such Distribution Date (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the Mortgage Loans that were used to reimburse any Nonrecoverable Advances, to the extent a Final Recovery Determination has not been made with respect thereto, and Workout-Delayed Reimbursement Amounts pursuant to Sections 3.05(a)(vii) and (viii) hereof):  first, to the Class U Certificates, until the remaining Class Principal Balance thereof has been reduced to zero; second, to the Class T Certificates, until the remaining Class Principal Balance thereof has been reduced to zero; third, to the Class S Certificates, until the
remaining Class Principal Balance thereof has been reduced to zero; fourth, to the Class Q Certificates, until the remaining Class Principal Balance thereof has been reduced to zero; fifth, to the Class P Certificates, until the remaining Class Principal Balance thereof has been reduced to zero; sixth, to the Class O Certificates, until the remaining Class Principal Balance thereof has been reduced to zero; seventh, to the Class N Certificates, until the remaining Class Principal Balance thereof has been reduced to zero; eighth, to the Class M Certificates, until the remaining Class Principal Balance thereof has been reduced to zero; ninth, to the Class L Certificates, until the remaining Class Principal Balance thereof has been reduced to zero; tenth, to the Class K Certificates, until the remaining Class Principal Balance thereof has been reduced to zero; eleventh, to the Class J Certificates, until the
remaining Class Principal Balance thereof has been reduced to zero; twelfth, to the Class H Certificates, until the remaining Class Principal Balance thereof has been reduced to zero; thirteenth, to the Class G Certificates, until the remaining Class Principal Balance thereof has been reduced to zero; fourteenth, to the Class F Certificates, until the remaining Class Principal Balance thereof has been reduced to zero; fifteenth, to the Class E Certificates, until the remaining Class Principal Balance thereof has been reduced to zero; sixteenth, to the Class D Certificates, until the remaining Class Principal Balance thereof has been reduced to zero; seventeenth to the Class C Certificates, until the remaining Class Principal Balance thereof has been reduced to zero; eighteenth, to the Class B Certificates, until the remaining Class Principal Balance thereof has been reduced to zero; nineteenth, to the Class A-J
Certificates, until the remaining Class Principal Balance thereof has been reduced to zero; twentieth, to the Class A-M Certificates, until the remaining Class Principal Balance thereof has been reduced to zero; and twenty-first, pro rata (based on remaining Class Principal Balances) to the Class A-1 Certificates, the Class A-2 Certificates, the Class A-3 Certificates, the Class A-PB Certificates, the Class A-4 Certificates, the Class A-5 Certificates and the Class A-1A Certificates and the Class A-5FL Regular Interest (and therefore the Class A-5FL Certificates), until the Class 


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Principal Balances thereof are reduced to zero.  Any allocation of Realized Losses and Additional Trust Fund Expenses to a Class of Regular Certificates or the Class A-5FL Regular Interest shall be made by reducing the Class Principal Balance thereof by the amount so allocated.  All Realized Losses and Additional Trust Fund Expenses, if any, allocated to the Class A-5FL Regular Interest shall result in a corresponding reduction of the Certificate Balance of the Class A-5FL Certificates, as applicable.  All Realized Losses and Additional Trust Fund Expenses, if any, allocated to a Class of Regular Certificates (or, with respect to the Class A-5FL Certificates, an amount corresponding to any Realized Losses and Additional Trust Fund Expenses allocated to the Class A-5FL Regular Interest) shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby.  All Realized Losses and
Additional Trust Fund Expenses, if any, that have not been allocated to the Regular Certificates and the Class A-5FL Regular Interest as of the Distribution Date on which the aggregate Certificate Principal Balance of such Regular Certificates and the Principal Balance of the Class A-5FL Regular Interest have been reduced to zero, shall be deemed allocated to the Residual Certificates.


                    (b)          On each Distribution Date, following the deemed distributions of principal or reimbursement of previously allocated Realized Losses and Additional Trust Fund Expenses made in respect of the REMIC I Regular Interests pursuant to Section 4.01(h), the REMIC I Principal Balance (or aggregate REMIC I Principal Balance with respect to the REMIC I Regular Interests corresponding to each of the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-1A, Class C, Class D, Class E, Class F, Class G, Class H, Class J and Class K Certificates) of the Corresponding REMIC I Regular Interests (after taking account of such deemed distributions) shall be reduced as a result of Realized Losses and Additional Trust Fund Expenses to equal the Class Principal Balance of the Corresponding
Certificates that will be outstanding immediately following such Distribution Date.



                    (c)          On
any Distribution Date, the amount of any Mortgage Deferred Interest will be
allocated as Certificate Deferred Interest to each outstanding Class of
Sequential Pay Certificates (other than the Class A-5FL Certificates) and the
Class A-5FL Regular Interest in reverse order of priorities (except with respect
to the Class A-1, Class A-2, Class A-3, Class A-PB,
Class A-4, Class A-5 and Class A-1A Certificates and the Class
A-5FL Regular Interest, which amounts shall be applied pro rata (based on
remaining Class Principal Balances) to such Certificates and the Class A-5FL
Regular Interest), in each case up to the respective Accrued Certificate
Interest for each such Class of Certificates (other than the Class A-5FL
Certificates) or the Class A-5FL Regular Interest, as applicable, for such
Distribution Date.  On each such Distribution Date, the Certificate
Principal Balance of each Class of Certificates or the Class A-5FL Regular
Interest, as applicable, to which Certificate Deferred Interest has been
allocated shall be increased by the amount of Certificate Deferred Interest
allocated to such Class of Certificates or Class A-5FL Regular Interest. 
All Certificate Deferred Interest, if any, allocated to the Class A-5FL Regular
Interest shall result in a corresponding increase of the Certificate Balance of
the Class A-5FL Certificates.  Certificate Deferred Interest will be
allocated to the Class A-5 Certificates and the Class A-5FL Regular Interest on
a pro rata basis (based on remaining Class Principal Balances).  The
amount of Certificate Deferred Interest allocated to any Class of Sequential Pay
Certificates (other than to Class A-5FL Certificates) or the Class A-5FL Regular
Interest shall be allocated to, and will increase the REMIC I Principal
Balances of the Corresponding REMIC I Regular Interests in reverse order of
priority specified for deemed


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distributions of principal in Section 4.01(h); provided,
however, that with respect to the Class A-1, Class A-2,
Class A-3, Class A-PB, Class A-4, Class A-5 and Class A-1A
Certificates and the Class A-5FL Regular Interest, allocations to the
Corresponding REMIC I Regular Interests shall be made on a pro rata
basis.




                    (d)          Any Appraisal Reduction Amounts shall be allocated only for purposes of determining the amount of P&I Advances with respect to the related Mortgage Loan, as follows:  to the Class Principal Balance of the Class U, Class T, Class S, Class Q, Class P, Class O, Class N, Class M, Class L, Class K, Class J, Class H, Class G, Class F, Class E, Class D, Class C, Class B, Class A-J and Class A-M Certificates, in that order, up to the amount of their respective Class Principal Balances, and then to the Class A Certificates on a pro rata basis; provided, however, that with respect to any Appraisal Reduction Amount relating to a Co-Lender Loan (other than the Non-Serviced Mortgage Loans), such Appraisal Reduction Amount will be applied, first to the
Subordinate Companion Loans from the most junior to the most senior and then, to the related Co-Lender Loan (pro rata, with each related Pari Passu Companion Loan in the case of any Co-Lender Loan with a Pari Passu Companion Loan).  With respect to any Appraisal Reduction Amount relating to a Non-Serviced Loan, such Appraisal Reduction Amount will be applied as provided in the related Non-Serviced Mortgage Pooling Agreement and the related Intercreditor Agreement.  On any Distribution Date, an Appraisal Reduction Amount that otherwise would be allocated to a Class of Certificates shall be allocated to the next most subordinate Class to the extent that the Class Principal Balance on such Distribution Date for such Class of Certificates (prior to taking the Appraisal Reduction Amount into account) is less than the Appraisal Reduction Amount for the Distribution Date.  The Master Servicer shall report to the Trustee on or before each Determination Date all Appraisal Reduction
Amounts and the Trustee shall report to the Master Servicer no later than 10:00 a.m. on the related P&I Advance Date the Pass-Through Rates necessary to calculate the allocation required by this Section 4.04(d). With respect to any Appraisal Reduction Amount relating to the Five Times Square Loan, the 666 Fifth Avenue Loan or the Peter Cooper Village & Stuyvesant Town Loan such Appraisal Reduction Amount shall be applied to the Five Times Square Pari Passu Companion Loan, the Five Times Square Subordinate Companion Loan, the Beacon D.C. & Seattle Pool Loan, the 666 Fifth Avenue Loan, the Peter Cooper Village & Stuyvesant Town Pari Passu Companion Loan and the Peter Cooper Village & Stuyvesant Town Future Pari Passu Companion Loan, if advanced, as applicable to the extent notified by the 2007-C30 Master Servicer, the 2007-C30 Special Servicer, the Morgan Stanley 2007-IQ14 Master Servicer, the Morgan Stanley 2007-IQ14 Special Servicer, the GECMC 2007-C1 Master Servicer or the
GECMC 2007-C1 Special Servicer, as the case may be.



          Section
4.05     Calculations.


                    The
Paying Agent shall, provided it receives the necessary information from
the Master Servicer and the Special Servicer, be responsible for performing all
calculations necessary in connection with the actual and deemed distributions
and allocations to be made pursuant to Section 4.01, Section 5.02(d)
and Article IX and the actual and deemed allocations of Realized Losses and
Additional Trust Fund Expenses to be made pursuant to Section 4.04. 
The Paying Agent shall calculate the Available Distribution Amount, the Class
A-5FL Interest Distribution Amount, the Class A-5FL Principal Available
Distribution Amount for each Distribution Date and shall allocate such amount
among Certificateholders in accordance with



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this Agreement, and the Paying Agent shall have no obligation to recompute, recalculate or verify any information provided to it by the Special Servicer or Master Servicer.  The calculations by the Paying Agent of such amounts shall, in the absence of manifest error, be presumptively deemed to be correct for all purposes hereunder.


          Section 4.06          Use of Agents.


                    The Master Servicer or the Trustee may at its own expense utilize agents or attorneys-in-fact in performing any of its obligations under this Article IV (except the obligation to make P&I Advances), but no such utilization shall relieve the Master Servicer or the Trustee from any of such obligations or liabilities, and the Master Servicer or the Trustee, as applicable, shall remain responsible for all acts and omissions of any such agent or attorney-in-fact (other than with respect to limited powers-of-attorney delivered by the Trustee to the Master Servicer or Special Servicer pursuant to Section 2.03(b) and 3.01(b), as applicable, in which case the Trustee shall have no such responsibility).


ARTICLE V


THE CERTIFICATES


          Section 5.01    The Certificates.


                    (a)          The Certificates will be substantially in the respective forms attached hereto as Exhibit A; provided that any of the Certificates may be issued with appropriate insertions, omissions, substitutions and variations, and may have imprinted or otherwise reproduced thereon such legend or legends, not inconsistent with the provisions of this Agreement, as may be required to comply with any law or with rules or regulations pursuant thereto, or with the rules of any securities market in which the Certificates are admitted to trading, or to conform to general usage.  The Certificates will be issuable in registered form only; provided, however, in accordance with Section 5.03 beneficial ownership interests in the Regular Certificates and the Class A-5FL
Certificates (in each case, other than any portion of which is represented by a definitive certificate) shall initially be held and transferred through the book-entry facilities of the Depository.  The Regular Certificates and the Class A-5FL Certificates will be issuable only in denominations corresponding to initial Certificate Principal Balances or initial Certificate Notional Amounts, as the case may be, as of the Closing Date of not less than $10,000 in the case of the Registered Certificates, $1,000,000 in the case the Class IO Certificates, and $250,000 in the case of Non-Registered Certificates (other than the Residual Certificates, the Class A-5FL Certificates, each Class of the Class IO Certificates), and in each such case in integral multiples of $1 in excess thereof.  The Class Z Certificates, Class R-I Certificates and the Class R-II Certificates shall have no minimum denomination and shall each be represented by a single definitive
certificate.


                    (b)          The
Certificates shall be executed by manual or facsimile signature on behalf of the
Trustee by the Certificate Registrar hereunder by an authorized signatory. 
Certificates bearing the manual or facsimile signatures of individuals who were
at any time the authorized signatories of the Certificate Registrar shall be
entitled to all benefits under this Agreement, subject to the following
sentence, notwithstanding that such individuals or any of 


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them have ceased to hold such offices prior to the authentication and delivery of such Certificates or did not hold such offices at the date of such Certificates.  No Certificate shall be entitled to any benefit under this Agreement, or be valid for any purpose, however, unless there appears on such Certificate a certificate of authentication substantially in the form provided for herein executed by the Authenticating Agent by manual signature, and such certificate of authentication upon any Certificate shall be conclusive evidence, and the only evidence, that such Certificate has been duly authenticated and delivered hereunder.  All Certificates shall be dated the date of their authentication.


          Section 5.02          Registration, Transfer and Exchange of Certificates.


                    (a)               At all times during the term of this Agreement, there shall be maintained at the office of the Certificate Registrar a Certificate Register in which, subject to such reasonable regulations as the Certificate Registrar may prescribe, the Certificate Registrar (located as of the Closing Date at the Corporate Trust Office), shall provide for the registration of Certificates and of transfers and exchanges of Certificates as herein provided.  The Certificate Register shall contain the aggregate holdings of Certificates represented by each Regulation S Global Certificate and each Domestic Global Certificate.  The Trustee is hereby initially appointed (and hereby agrees to act in accordance with the terms hereof) as Certificate Registrar for the
purpose of registering Certificates and transfers and exchanges of Certificates as herein provided.  The Certificate Registrar may appoint, by a written instrument delivered to the Depositor, the Trustee, the Special Servicer and the Master Servicer, any other bank or trust company to act as Certificate Registrar under such conditions as the predecessor Certificate Registrar may prescribe; provided that the predecessor Certificate Registrar shall not be relieved of any of its duties or responsibilities hereunder by reason of such appointment.  If the Trustee resigns or is removed in accordance with the terms hereof, the successor trustee shall immediately succeed to its duties as Certificate Registrar.  The Depositor, the Trustee (if it is no longer the Certificate Registrar), the Master Servicer and the Special Servicer shall have the right to inspect the Certificate Register or to obtain a copy thereof at all reasonable times, and to rely conclusively upon a certificate of the
Certificate Registrar as to the information set forth in the Certificate Register.  Upon written request of any Certificateholder made for purposes of communicating with other Certificateholders with respect to their rights under this Agreement, the Certificate Registrar shall promptly furnish such Certificateholder with a list of the other Certificateholders of record identified in the Certificate Register at the time of the request.


                    (b)               No transfer of any Non-Registered Certificate shall be made unless that transfer is made pursuant to an effective registration statement under the Securities Act, and effective registration or qualification under applicable state securities laws, or is made in a transaction that does not require such registration or qualification.  If such a transfer is to be made without registration under the Securities Act (other than in connection with the initial issuance thereof or the initial transfer thereof by the Depositor, the Initial Purchasers or their respective Affiliates), then the Certificate Registrar shall refuse to register such transfer unless it receives (and upon receipt, may conclusively rely upon) either:  (i) a certificate from
the Certificateholder desiring to effect such transfer substantially in the form attached as Exhibit F-1 hereto, and a certificate from such Certificateholder’s prospective transferee substantially in the form attached as either Exhibit F-2 hereto, Exhibit F-3 hereto, Exhibit F-4 hereto, Exhibit F-5 hereto or Exhibit F-6 hereto; or (ii) an Opinion of Counsel reasonably satisfactory to the 


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Certificate Registrar to the effect that such transfer may be made without registration under the Securities Act (which Opinion of Counsel shall not be an expense of the Trust Fund or of the Depositor, the Master Servicer, the Special Servicer, the Trustee or the Certificate Registrar in their respective capacities as such), together with the written certification(s) as to the facts surrounding such transfer from the Certificateholder desiring to effect such transfer and/or such Certificateholder’s prospective transferee on which such Opinion of Counsel is based.  None of the Depositor, the Trustee or the Certificate Registrar is obligated to register or qualify any Class of Non-Registered Certificates under the Securities Act or any other securities law or to take any action not otherwise required under this Agreement to permit the transfer of any Non-Registered Certificate without registration or qualification.  Any Holder of a Non-Registered
Certificate desiring to effect such a transfer shall, and upon acquisition of such a Certificate shall be deemed to have agreed to, indemnify the Trustee, the Certificate Registrar and the Depositor against any liability that may result if the transfer is not so exempt or is not made in accordance with such federal and state laws.


                    In connection with transfer of the Non-Registered Certificates, the Depositor shall furnish upon request of a Certificateholder or Certificate Owner to such Holder or Certificate Owner and any prospective purchaser designated by such Certificateholder or Certificate Owner the information required to be delivered under paragraph (d)(4) of Rule 144A of the Securities Act.


                    Notwithstanding the foregoing, for so long as any Non-Registered Certificate is a Book-Entry Certificate, (a) each prospective transferor of such Certificate shall be deemed to have represented to the Trustee, the Depositor and the transferee of such Certificate the information set forth on Exhibit F-1 upon or prior to such transfer and (b) each prospective transferee of such Certificate shall be deemed to have represented to the Trustee, the Depositor and the transferor of such Certificate the information set forth on Exhibit F-2, Exhibit F-3, Exhibit F-4, Exhibit F-5 or Exhibit F-6, as applicable, upon or prior to such transfer.  In addition, if such prospective transferee is an Institutional Accredited Investor (but not also a Qualified Institutional Buyer),


such prospective transferee shall be deemed to have acknowledged that any beneficial interest in a Book-Entry Certificate that is transferred to it is required to be delivered in the form of a Definitive Certificate and shall cease to be an interest in such Book-Entry Certificate and, thereafter, shall be subject to all transfer restrictions and other procedures applicable to Certificates in definitive form.


                    (c)               No transfer of a Certificate or any interest therein shall be made to any “employee benefit plan” subject to Title I of ERISA, any “plan” subject to Section 4975 of the Code or any other retirement plan or other employee benefit plan or arrangement subject to applicable federal, state or local law (“Similar Law”) materially similar to the foregoing provisions of ERISA or the Code, or any entity deemed to hold plan assets of the foregoing by reason of such a plan’s investment in such entity (each, a “Plan”) unless (A) in the case of a Certificate other than a Residual Certificate or a Class Z Certificate, the transferee is an insurance company general account which is eligible for,
and satisfies all the requirements of, exemptive relief under Sections I and III of Department of Labor Prohibited Transaction Class Exemption 95-60 (“PTE 95-60”) or (B) in the case of a Certificate other than an ERISA Restricted Certificate, a Residual Certificate or a Class Z Certificate, the transferee (1) qualifies as an accredited investor as defined in Rule 501(a)(1) of Regulation D under the Securities Act 


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(2) satisfies all the requirements of the Exemptions as in effect at the time of such transfer and (3) in the case of a Class A-5FL Certificate, the Plan fiduciary is a qualified professional asset manager (as defined in PTE 84 14, an in-house asset manager (as defined in PTE 96 23)), or a Plan fiduciary with total assets under management of at least $100 million at the time the Certificate is acquired.  Each Person who acquires a Certificate in Definitive Certificate form shall be required to certify in writing in the form attached as Exhibit G hereto that it meets the foregoing conditions and that it will not transfer such Certificate in violation of the foregoing, and each Person who acquires a Certificate in Book-Entry Certificate form shall be deemed to have represented that the foregoing conditions are satisfied and that it will not transfer such Certificate in violation of the foregoing.


                    (d)               (i) Each Person who has or who acquires any Ownership Interest in a Residual Certificate shall be deemed by the acceptance or acquisition of such Ownership Interest to have agreed to be bound by the following provisions and to have irrevocably authorized the Paying Agent under clause (ii)(A) below to deliver payments to a Person other than such Person and to have irrevocably authorized the Certificate Registrar under clause (ii)(B) below to negotiate the terms of any mandatory disposition and to execute all instruments of Transfer and to do all other things necessary in connection with any such sale.  The rights of each Person acquiring any Ownership Interest in a Residual Certificate are expressly subject to the following
provisions:


                                                            (A)          Each Person holding or acquiring any Ownership Interest in a Residual Certificate shall be a Permitted Transferee and shall promptly notify the Master Servicer, the Paying Agent and the Certificate Registrar of any change or impending change in its status as a Permitted Transferee.


                                                             (B)          In connection with any proposed Transfer of any Ownership Interest in a Residual Certificate, the Certificate Registrar shall require delivery to it, and shall not register the Transfer of any Residual Certificate until its receipt of an affidavit and agreement substantially in the form attached hereto as Exhibit H-1 (a “Transfer Affidavit and Agreement”), from the proposed Transferee, in form and substance satisfactory to the Certificate Registrar, and upon which the Certificate Registrar may, in the absence of
actual knowledge by a Responsible Officer of either the Trustee or the Certificate Registrar to the contrary, conclusively rely, representing and warranting, among other things, that such Transferee is a Permitted Transferee; that it is not acquiring its Ownership Interest in the Residual Certificate that is the subject of the proposed Transfer as a nominee, trustee or agent for any Person that is not a Permitted Transferee; that for so long as it retains its Ownership Interest in a Residual Certificate, it will endeavor to remain a Permitted Transferee; that it has historically paid its debts as they have come due, intends to pay its debts as they come due in the future and intends to pay all taxes associated with the Residual Certificate as they come due; and that it has reviewed the provisions of this Section 5.02(d) and agrees to be bound by them.


                                                             (C)          Notwithstanding the delivery of a Transfer Affidavit and Agreement by a proposed Transferee under clause (B) above, if a Responsible Officer of the Certificate Registrar has actual knowledge that the proposed Transferee is not a Permitted Transferee, no Transfer of an Ownership Interest in a Residual Certificate to such proposed Transferee shall be effected.


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                                                             (D)          Each Person holding or acquiring any Ownership Interest in a Residual Certificate shall agree (a) to require a Transfer Affidavit and Agreement from any prospective Transferee to whom such Person attempts to transfer its Ownership Interest in such Residual Certificate and (b) not to transfer its Ownership Interest in such Residual Certificate unless it provides to the Certificate Registrar a certificate substantially in the form attached hereto as Exhibit H-2 stating that, among other things, it has no actual knowledge that such
prospective Transferee is not a Permitted Transferee.


                                                             (E)          Each Person holding or acquiring an Ownership Interest in a Residual Certificate, by purchasing an Ownership Interest in such Certificate, agrees to give the Master Servicer and the Trustee written notice that it is a “pass-through interest holder” within the meaning of temporary Treasury regulation Section 1.67-3T(a)(2)(i)(A) immediately upon acquiring an Ownership Interest in a Residual Certificate, if it is, or is holding an Ownership Interest in a Residual Certificate on behalf of, a “pass-through interest
holder.”


                              (ii)               (A) If any purported Transferee shall become a Holder of a Residual Certificate in violation of the provisions of this Section 5.02(d), then the last preceding Holder of such Residual Certificate that was in compliance with the provisions of this Section 5.02(d) shall be restored, to the extent permitted by law, to all rights as Holder thereof retroactive to the date of registration of such Transfer of such Residual Certificate.  None of the Trustee, the Master Servicer or the Certificate Registrar shall be under any liability to any Person for any registration of Transfer of a Residual Certificate that is in fact not permitted by this Section 5.02(d) or for making any
payments due on such Certificate to the Holder thereof or for taking any other action with respect to such Holder under the provisions of this Agreement.


                                                             (B)          If any purported Transferee shall become a Holder of a Residual Certificate in violation of the restrictions in this Section 5.02(d), then, to the extent that the retroactive restoration of the rights of the preceding Holder of such Residual Certificate as described in clause (ii)(A) above shall be invalid, illegal or unenforceable, the Certificate Registrar shall have the right, without notice to the Holder or any prior Holder of such Residual Certificate, to cause the transfer of such Residual Certificate to a Permitted Transferee on


such terms as the Certificate Registrar may choose.  Such purported Transferee shall promptly endorse and deliver such Residual Certificate in accordance with the instructions of the Certificate Registrar.  Such Permitted Transferee may be the Certificate Registrar itself or any Affiliate of the Certificate Registrar.  Any proceeds of such sale, net of the commissions (which may include commissions payable to the Certificate Registrar or its Affiliates), expenses and taxes due, if any, will be remitted by the Paying Agent to such purported Transferee.  The terms and conditions of any sale under this clause (ii)(B) shall be determined in the sole discretion of the Certificate Registrar, and the Certificate Registrar shall not be liable to any Person having an Ownership Interest in a Residual Certificate as a result of its exercise of such discretion.


                              (iii)               The Certificate Registrar shall make available to the Internal Revenue Service and to those Persons specified by the REMIC Provisions any information available to it which is necessary to compute any tax imposed as a result of the Transfer of an Ownership Interest in a Residual Certificate to any Person who is a Disqualified Organization or agent thereof, including the information described in Treasury Regulations Sections 1.860D-1(b)(5) and 1.860E-2(a)(5) with respect to the “excess inclusions” of such Residual 


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Certificate, and the Master Servicer and the Special Servicer shall furnish to the Certificate Registrar all information in its possession necessary for the Certificate Registrar to discharge such obligation.  The transferor of such Ownership Interest shall be responsible for the reasonable compensation of the Certificate Registrar, the Master Servicer and the Special Servicer for providing such information.


                              (iv)               The provisions of this Section 5.02(d) set forth prior to this clause (iv) may be modified, added to or eliminated; provided that there shall have been delivered to the Certificate Registrar and the Master Servicer the following:


                                                             (A)          written confirmation from each Rating Agency to the effect that the modification of, addition to or elimination of such provisions will not cause such Rating Agency to qualify, downgrade or withdraw its then-current rating of any Class of Certificates; and


                                                             (B)          an Opinion of Counsel, in form and substance satisfactory to the Certificate Registrar and the Master Servicer, obtained at the expense of the party seeking such modification of, addition to or elimination of such provisions (but in no event at the expense of the Trust Fund), to the effect that doing so will not cause either of REMIC I or REMIC II to (x) cease to qualify as a REMIC or (y) be subject to an entity-level tax caused by the Transfer of any Residual Certificate to a Person which is not a Permitted Transferee, or cause


a Person other than the prospective Transferee to be subject to a REMIC-related tax caused by the Transfer of a Residual Certificate to a Person that is not a Permitted Transferee.


                    (e)               No interest in the Regulation S Global Certificates may be held by or transferred to a U.S. Person (as defined in Regulation S) except for exchanges for a beneficial interest in a Domestic Global Certificate or a Definitive Certificate as described below. Any beneficial interest in a Regulation S Global Certificate that is transferred to a U.S. Person that is an institutional “accredited investor” (which is not a QIB) is required to be delivered in the form of a definitive certificate and will cease to be an interest in such Regulation S Global Certificate and, thereafter, will be subject to all transfer restrictions and other procedures applicable to Certificates in definitive form described below. Notwithstanding the foregoing, no transfer
of a beneficial interest in a Regulation S Global Certificate to a Definitive Certificate as described below will be made prior to the Release Date.


                              (i)          Any holder of an interest in a Regulation S Global Certificate in respect of the Certificates will have the right, upon prior written notice to the Depositor, the Trustee, Euroclear or Clearstream, as applicable, and DTC, in the form of the Exchange Certificate, to exchange all or a portion of such interest for an equivalent interest in a Domestic Global Certificate in connection with a transfer of its interest therein to a transferee that is eligible to hold an interest in a Domestic Global Certificate as described herein.  Any holder of an interest in a Domestic Global Certificate shall have the right, upon prior written notice to the Depositor, the Trustee, DTC and Euroclear or Clearstream, as applicable, in the form
of the Exchange Certificate to exchange all or a portion of such interest for an equivalent interest in a Regulation S Global Certificate in connection with a transfer of its interest therein to a transferee that is eligible to hold an interest in a Regulation S Global Certificate as set forth herein.  The Exchange Certificate will specify the denomination of the Certificates to be exchanged. The


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Exchange Certificate will also contain a representation that the transfer is being made in a transaction meeting the requirements of this Agreement and Rule 144A or Regulation S, as the case may be.  Following receipt of any Exchange Certificate by the Trustee, (i) the Trustee will endorse the schedule to any Global Certificate representing the Certificate or Certificates being exchanged to reduce the stated principal amount of such Global Certificate by the denominations of the Certificate or Certificates for which such exchange is to be made and (ii) the Trustee will endorse the schedule to any Global Certificate representing the Certificate or Certificates for which such exchange is to be made to increase the stated principal amount of such Global Certificate by the denominations of the Certificate or Certificates being exchanged therefor.


                              (ii)          Investors may hold their interests in a Regulation S Global Certificate through Euroclear or Clearstream, if they are participants in such systems, or indirectly through organizations that are participants in such systems. After the end of the Restricted Period, investors may also hold such interests through organizations that have accounts with DTC other than Euroclear and Clearstream (the “DTC Participants”). Euroclear and Clearstream will hold interests in a Regulation S Global Certificate on behalf of their participants through customers’ securities accounts in their respective names on the books of their respective depositaries, which in turn will hold such interests in a Regulation S Global
Certificate in customers’ securities accounts in the depositaries’ names on the books of DTC. Clearstream and Euroclear will from time to time appoint financial institutions to act as depositary for such entities. Investors may hold their interests in a Domestic Global Certificate directly through DTC, if they are DTC Participants, or indirectly through organizations which are DTC Participants.


                    (f)                Subject to the preceding provisions of this Section 5.02, upon surrender for registration of transfer of any Certificate at the offices of the Certificate Registrar maintained for such purpose, the Certificate Registrar shall execute and the Authenticating Agent shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new Certificates of the same Class of a like aggregate Percentage Interest.


                    (g)               At the option of any Holder, its Certificates may be exchanged for other Certificates of authorized denominations of the same Class of a like aggregate Percentage Interest, upon surrender of the Certificates to be exchanged at the offices of the Certificate Registrar maintained for such purpose.  Whenever any Certificates are so surrendered for exchange, the Certificate Registrar shall execute and the Authenticating Agent shall authenticate and deliver the Certificates which the Certificateholder making the exchange is entitled to receive.


                    (h)               Every Certificate presented or surrendered for transfer or exchange shall (if so required by the Certificate Registrar) be duly endorsed by, or be accompanied by a written instrument of transfer in the form satisfactory to the Certificate Registrar duly executed by, the Holder thereof or his attorney duly authorized in writing.


                    (i)               No service charge shall be imposed for any transfer or exchange of Certificates, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of Certificates.


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                    (j)               All Certificates surrendered for transfer and exchange shall be physically canceled by the Certificate Registrar, and the Certificate Registrar shall dispose of such canceled Certificates in accordance with its standard procedures.


                    (k)              Upon request, the Certificate Registrar shall provide to the Master Servicer, the Special Servicer and the Depositor notice of each transfer of a Certificate and shall provide to each such Person with an updated copy of the Certificate Register.


                    (l)               Each Person who has or who acquires any Ownership Interest in a Certificate shall be deemed by the acceptance or acquisition of such Ownership Interest to have agreed to be bound by the provisions of any Intercreditor Agreement affecting such Certificate.


                    (m)             With respect to any Class A-5FL Certificate that is a Definitive Certificate, no transfers of such Certificate presented or surrendered for registration of transfer or exchange shall be made unless the transfer or exchange is accompanied by a written instrument of transfer and accompanied by IRS Form W-8CI, W-8BEN, W-8IMY (and all appropriate attachments) or W-9 in form satisfactory to the Trustee, duly executed by such Certificateholder to the Swap Counterparty).  If requested, the Trustee shall promptly forward any such IRS Form received by the Trustee to the applicable Swap Counterparty.  Each holder of such Class A-5FL Certificate by its purchase of such Certificate shall be deemed to consent to any IRS Form being so forwarded.


          Section 5.03          Book-Entry Certificates.


                    (a)               Each Class of Regular Certificates and the Class A-5FL Certificates (in each case, other than any portion of which is represented by a definitive certificate) shall initially be issued as one or more Certificates registered in the name of the Depository or its nominee and, except as provided in Section 5.03(c) below, transfer of such Certificates may not be registered by the Certificate Registrar unless such transfer is to a successor Depository that agrees to hold such Certificates for the respective Certificate Owners with Ownership Interests therein.  Such Certificate Owners shall hold and transfer their respective Ownership Interests in and to such Certificates through the book-entry facilities of the Depository and, except as provided in
Section 5.03(c) below, shall not be entitled to definitive, fully registered Certificates (“Definitive Certificates”) in respect of such Ownership Interests.  All transfers by Certificate Owners of their respective Ownership Interests in the Book-Entry Certificates shall be made in accordance with the procedures established by the Depository Participant or brokerage firm representing each such Certificate Owner.  Each Depository Participant shall only transfer the Ownership Interests in the Book-Entry Certificates of Certificate Owners it represents or of brokerage firms for which it acts as agent in accordance with the Depository’s normal procedures.


                    (b)               The
Trustee, the Master Servicer, the Special Servicer, the Depositor and the
Certificate Registrar may for all purposes, including the making of payments due
on the Book-Entry Certificates, deal with the Depository as the authorized
representative of the Certificate Owners with respect to such Certificates for
the purposes of exercising the rights of Certificateholders hereunder.  The
rights of Certificate Owners with respect to the Book-Entry Certificates shall
be limited to those established by law and agreements between such Certificate
Owners and the Depository Participants and brokerage firms representing such
Certificate


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Owners. Multiple requests and directions from, and votes of, the Depository as Holder of the Book-Entry Certificates with respect to any particular matter shall not be deemed inconsistent if they are made with respect to different Certificate Owners.  The Trustee may establish a reasonable record date in connection with solicitations of consents from or voting by Certificateholders and shall give notice to the Depository of such record date.


                    (c)               If (i)(A) the Depositor advises the Trustee and the Certificate Registrar in writing that the Depository is no longer willing or able to properly discharge its responsibilities with respect to a Class of the Book-Entry Certificates, and (B) the Depositor is unable to locate a qualified successor, or (ii) the Depositor at its option advises the Trustee and the Certificate Registrar in writing that it elects to terminate the book-entry system through the Depository with respect to a Class of Book-Entry Certificates, the Certificate Registrar shall notify all affected Certificate Owners, through the Depository, of the occurrence of any such event and of the availability of Definitive Certificates to such Certificate Owners requesting the
same.  Upon surrender to the Certificate Registrar of the Book-Entry Certificates of any Class thereof by the Depository, accompanied by registration instructions from the Depository for registration of transfer, the Certificate Registrar shall execute, at the Depositor’s expense, and the Authenticating Agent shall authenticate and deliver, the Definitive Certificates in respect of such Class to the Certificate Owners identified in such instructions.  Upon surrender to the Certificate Registrar of the Definitive Certificate of any Class thereof by the Depository, accompanied by registration instructions from the Certificate Owner for registration of transfer, the Certificate Registrar shall execute, at the Depositor’s expense, and the Authenticating Agent shall authenticate and deliver, the Book-Entry Certificates in respect of such Class to the Depository identified in such instructions.  The Depositor shall provide the Certificate Registrar with an adequate inventory of


Definitive Certificates.  None of the Depositor, the Master Servicer, the Special Servicer, the Trustee or the Certificate Registrar shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions.  Upon the issuance of Definitive Certificates for purposes of evidencing ownership of any Class of Registered Certificates, the registered holders of such Definitive Certificates shall be recognized as Certificateholders hereunder and, accordingly, shall be entitled directly to receive payments on, to exercise Voting Rights with respect to, and to transfer and exchange such Definitive Certificates.


                    (d)               Notwithstanding any other provisions contained herein, neither the Trustee nor the Certificate Registrar shall have any responsibility whatsoever to monitor or restrict the transfer of ownership interests in any Certificate (including, but not limited to, any Non-Registered Certificate, any Subordinated Certificate and any Class Z Certificate) which interests are transferable through the book-entry facilities of the Depository.


          Section 5.04          Mutilated, Destroyed, Lost or Stolen Certificates.


                    If (i) any mutilated Certificate is surrendered to the Certificate Registrar, or the Certificate Registrar receives evidence to its satisfaction of the destruction, loss or theft of any Certificate, and (ii) there is delivered to the Trustee and the Certificate Registrar such security or indemnity as may be required by them to save each of them harmless, then, in the absence of actual notice to the Trustee and the Certificate Registrar that such Certificate has been acquired by a bona fide purchaser, the Certificate Registrar shall execute and the Authenticating Agent 


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shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Certificate, a new Certificate of the same Class and like Percentage Interest.  Upon the issuance of any new Certificate under this Section, the Trustee and the Certificate Registrar may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee and the Certificate Registrar) connected therewith.  Any replacement Certificate issued pursuant to this Section shall constitute complete and indefeasible evidence of ownership in the applicable REMIC created hereunder, as if originally issued, whether or not the lost, stolen or destroyed Certificate shall be found at any time.


          Section 5.05          Persons Deemed Owners.


                    Prior to due presentment for registration of transfer, the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Certificate Registrar and any agent of any of them may treat the Person in whose name any Certificate is registered as of the related Record Date as the owner of such Certificate for the purpose of receiving distributions pursuant to Section 4.01 and may treat the person whose name each Certificate is registered as of the date of determination as the owner of such Certificate for all other purposes whatsoever and none of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Certificate Registrar or any agent of any of them shall be affected by notice to the contrary.


ARTICLE VI
 
 THE DEPOSITOR, THE MASTER SERVICER, THE SPECIAL
 SERVICER AND THE CONTROLLING CLASS REPRESENTATIVE


          Section 6.01          Liability of Depositor, Master Servicer and Special Servicer.


                    The Depositor, the Master Servicer and the Special Servicer shall be liable in accordance herewith only to the extent of the respective obligations specifically imposed upon and undertaken by the Depositor, the Master Servicer and the Special Servicer herein.


          Section 6.02          Merger, Consolidation or Conversion of Depositor or Master Servicer or Special Servicer.


                    Subject to the following paragraph, the Depositor, the Master Servicer and the Special Servicer shall each keep in full effect its existence, rights and franchises as a corporation, or national banking association, as the case may be, under the laws of the jurisdiction of its incorporation or organization, and each will obtain and preserve its qualification to do business as a national banking association or foreign corporation, as the case may be, in each jurisdiction in which such qualification is or shall be necessary to protect the validity and enforceability of this Agreement, the Certificates or any of the Mortgage Loans and to perform its respective duties under this Agreement, and the Master Servicer shall keep in full effect its existence and rights as a national banking association under the laws of the United States of
America.


                    The Depositor, the Master Servicer or the Special Servicer may be merged or consolidated with or into any Person (other than the Trustee), or transfer all or substantially all of its assets (which may be limited to all or substantially all of its assets related to commercial 


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mortgage loan servicing) to any Person, in which case any Person resulting from any merger or consolidation to which the Depositor, the Master Servicer or the Special Servicer shall be a party, or any Person succeeding to the business (which may be limited to the commercial loan servicing business) of the Depositor, the Master Servicer or the Special Servicer, shall be the successor of the Depositor, the Master Servicer or the Special Servicer, as the case may be, hereunder, without the execution or filing of any paper or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding; provided, however, that no successor or surviving Person shall succeed to the rights of the Master Servicer or the Special Servicer unless (i) as evidenced in writing by the Rating Agencies, such succession will not result in qualification, downgrading or withdrawal of the ratings then assigned by the Rating Agencies to
any Class of Certificates and (ii) such successor or surviving Person makes the applicable representations and warranties set forth in Section 3.23.


          Section 6.03          Limitation on Liability of Depositor, Master Servicer and Special Servicer.


                    None of the Depositor, the Master Servicer or the Special Servicer, or any director, officer, employee or agent of any of them, shall be under any liability to the Trust Fund, the Trustee or the Certificateholders or the Companion Holders for any action taken, or not taken, in good faith pursuant to this Agreement, or for errors in judgment; provided, however, that this provision shall not protect the Depositor, the Master Servicer or the Special Servicer against any liability to the Trust Fund, the Trustee, the Certificateholders or the Companion Holders for the breach of a representation, warranty or covenant made herein by such party, or against any expense or liability specifically required to be borne by such party without right of reimbursement pursuant to the terms hereof, or against any liability which would otherwise be
imposed by reason of misfeasance, bad faith or negligence in the performance of obligations or duties hereunder or negligent disregard of such obligations and duties.  The Depositor, the Master Servicer, the Special Servicer and any director, officer, employee or agent of the Depositor, the Master Servicer or the Special Servicer may rely in good faith on any document of any kind which, prima facie, is properly executed and submitted by any Person respecting any matters arising hereunder.  The Depositor, the Master Servicer, the Special Servicer and any director, member, manager, officer, employee or agent of the Depositor, the Master Servicer or the Special Servicer shall be indemnified and held harmless by the Trust Fund against any loss, liability or reasonable expense incurred in connection with this Agreement or the Certificates (including, without limitation, the distribution or posting of reports or other information as contemplated by this Agreement), other than any loss, liability
or expense:  (i) specifically required to be borne by such party without right of reimbursement pursuant to the terms hereof (including without limitation, those expenses set forth in Section 3.11(b) or Section 3.11(d) and the last sentence of the definition of Servicing Advances); (ii) incurred in connection with any breach of a representation, warranty or covenant made herein; or (iii) incurred by reason of willful misfeasance, bad faith or negligence in the performance of obligations or duties hereunder.  None of the Depositor, the Master Servicer or the Special Servicer shall be under any obligation to appear in, prosecute or defend any legal action unless such action is related to its respective duties under this Agreement and unless it is specifically required hereunder to bear the costs of such legal action, in its opinion does not involve it in any ultimate expense or liability; provided, however, that the Depositor, the Master Servicer or the
Special Servicer may in its discretion undertake any such action which it may deem necessary or desirable with respect to 


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the enforcement and/or protection of the rights and duties of the parties hereto and the interests of the Certificateholders hereunder.  In such event, the legal expenses and costs of such action, and any liability resulting therefrom, shall be expenses, costs and liabilities of the Trust Fund, and the Depositor, the Master Servicer and the Special Servicer shall be entitled to be reimbursed therefor from the Certificate Account as provided in Section 3.05.  In no event shall the Master Servicer or the Special Servicer be liable or responsible for any action taken or omitted to be taken by the other of them or by the Depositor, the Trustee, or any Certificateholder, subject to the provisions of Section 8.05(b).  


                    The 2007-C30 Master Servicer, the 2007-C30 Special Servicer, the 2007-C30 Depositor and the 2007-C30 Trustee, and any of their respective directors, officers, employees or agents (collectively, the “2007-C30 Indemnified Parties”), shall be indemnified by the Trust and held harmless against the Trust’s pro rata share (subject to the Five Times Square Intercreditor Agreement and the Peter Cooper Village & Stuyvesant Town Intercreditor Agreement, as applicable) of any and all claims, losses, damages, penalties, fines, forfeitures, reasonable legal fees and related costs, judgments, and any other costs, liabilities, fees and expenses incurred in connection with any legal action relating to the Five Times Square Whole Loan or the Peter Cooper Village & Stuyvesant Town Whole Loan, as applicable, under the 2007-C30 Pooling
and Servicing Agreement or this Agreement (but excluding any such losses allocable to the Five Times Square Pari Passu Companion Loans, the Five Times Square Subordinate Companion Loan and the Peter Cooper Village & Stuyvesant Town Pari Passu Companion Loans, as applicable), reasonably requiring the use of counsel or the incurring of expenses other than any losses incurred by reason of any 2007-C30 Indemnified Party’s willful misfeasance, bad faith or negligence in the performance of duties or by reason of negligent disregard of obligations and duties under the 2007-C30 Pooling and Servicing Agreement.  The indemnification provided herein shall survive the termination of this Agreement and the termination or resignation of the 2007-C30 Master Servicer, the 2007-C30 Trustee and the 2007-C30 Special Servicer.


                    The Morgan Stanley 2007-IQ14 Master Servicer, the Morgan Stanley 2007-IQ14 Special Servicer, the Morgan Stanley 2007-IQ14 Depositor and the Morgan Stanley 2007-IQ14 Trustee, and any of their respective directors, officers, employees or agents (collectively, the “Morgan Stanley 2007-IQ14 Indemnified Parties”), shall be indemnified by the Trust and held harmless against the Trust’s pro rata share (subject to the Beacon D.C. & Seattle Pool Intercreditor Agreement) of any and all claims, losses, damages, penalties, fines, forfeitures, reasonable legal fees and related costs, judgments, and any other costs, liabilities, fees and expenses incurred in connection with any legal action relating to the Beacon D.C. & Seattle Pool Whole Loan under the Morgan Stanley 2007-IQ14 Pooling and Servicing Agreement or this Agreement
(but excluding any such losses allocable to the Beacon D.C. & Seattle Pool Pari Passu Companion Loans), reasonably requiring the use of counsel or the incurring of expenses other than any losses incurred by reason of any Morgan Stanley 2007-IQ14 Indemnified Party’s willful misfeasance, bad faith or negligence in the performance of duties or by reason of negligent disregard of obligations and duties under the Morgan Stanley 2007-IQ14 Pooling and Servicing Agreement.  The indemnification provided herein shall survive the termination of this Agreement and the termination or resignation of the Morgan Stanley 2007-IQ14 Master Servicer, the Morgan Stanley 2007-IQ14 Trustee and the Morgan Stanley 2007-IQ14 Special Servicer.


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                    The GECMC 2007-C1 Master Servicer, the GECMC 2007-C1 Special Servicer, the GECMC 2007-C1 Depositor and the GECMC 2007-C1 Trustee, and any of their respective directors, officers, employees or agents (collectively, the “GECMC 2007-C1 Indemnified Parties”), shall be indemnified by the Trust and held harmless against the Trust’s pro rata share (subject to the 666 Fifth Avenue Pari Passu Intercreditor Agreement) of any and all claims, losses, damages, penalties, fines, forfeitures, reasonable legal fees and related costs, judgments, and any other costs, liabilities, fees and expenses incurred in connection with any legal action relating to the 666 Fifth Avenue Whole Loan under the GECMC 2007-C1 Pooling and Servicing Agreement or this Agreement (but excluding any such losses allocable to the 666 Fifth Avenue Pari Passu Companion
Loans), reasonably requiring the use of counsel or the incurring of expenses other than any losses incurred by reason of any GECMC 2007-C1 Indemnified Party’s willful misfeasance, bad faith or negligence in the performance of duties or by reason of negligent disregard of obligations and duties under the GECMC 2007-C1 Pooling and Servicing Agreement.  The indemnification provided herein shall survive the termination of this Agreement and the termination or resignation of the GECMC 2007-C1 Master Servicer, the GECMC 2007-C1 Trustee and the GECMC 2007-C1 Special Servicer.


          Section 6.04          Resignation of Master Servicer and the Special Servicer.


                    The Master Servicer and, subject to Section 6.09, the Special Servicer may resign from the obligations and duties hereby imposed on it, upon a determination that its duties hereunder are no longer permissible under applicable law or are in material conflict by reason of applicable law with any other activities carried on by it (the other activities of the Master Servicer or the Special Servicer, as the case may be, so causing such a conflict being of a type and nature carried on by the Master Servicer or the Special Servicer, as the case may be, at the date of this Agreement).  Any such determination requiring the resignation of the Master Servicer or the Special Servicer, as applicable, shall be evidenced by an Opinion of Counsel to such effect which shall be delivered to the Trustee.  Unless applicable law requires the Master
Servicer’s or Special Servicer’s resignation to be effective immediately, and the Opinion of Counsel delivered pursuant to the prior sentence so states, no such resignation shall become effective until the Trustee or other successor shall have assumed the responsibilities and obligations of the resigning party in accordance with Section 7.02 hereof.  The Master Servicer and the Special Servicer shall have the right to resign at any other time; provided that (i) a willing successor thereto has been found by the Master Servicer or Special Servicer, as applicable, (ii) each of the Rating Agencies confirms in writing that the successor’s appointment will not result in a withdrawal, qualification or downgrade of any rating or ratings assigned to any Class of Certificates, (iii) the resigning party pays all costs and expenses in connection with such transfer, and (iv) the successor accepts appointment prior to the effectiveness of such resignation. 
Neither the Master Servicer nor the Special Servicer shall be permitted to resign except as contemplated above in this Section 6.04.


                    Consistent with the foregoing, neither the Master Servicer nor the Special Servicer shall, except as expressly provided herein, assign or transfer any of its rights, benefits or privileges hereunder to any other Person, or, except as provided in Sections 3.22 and 4.06, delegate to or subcontract with, or authorize or appoint any other Person to perform any of the duties, covenants or obligations to be performed by it hereunder.  If, pursuant to any provision hereof, the duties of the Master Servicer or the Special Servicer are transferred to a successor thereto, the Master Servicing Fee or the Special Servicing Fee, as the case may be, that accrues pursuant hereto from and after the date of such transfer shall be payable to such successor.


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          Section 6.05          Rights of Depositor and Trustee in Respect of Master Servicer and the Special Servicer.


                    The Master Servicer and the Special Servicer shall each afford the Depositor, the Underwriters and the Trustee, upon reasonable notice, during normal business hours access to all records maintained thereby in respect of its rights and obligations hereunder and access to officers thereof responsible for such obligations.  Upon reasonable request, the Master Servicer and the Special Servicer shall each furnish the Depositor, the Underwriters and the Trustee with its most recent publicly available financial statements and such other information as it possesses, and which it is not prohibited by applicable law or contract from disclosing, regarding its business, affairs, property and condition, financial or otherwise, except to the extent such information constitutes proprietary information or is subject to a privilege under applicable
law.  The Depositor may, but is not obligated to, enforce the obligations of the Master Servicer and the Special Servicer hereunder and may, but is not obligated to, perform, or cause a designee to perform, any defaulted obligation of the Master Servicer or Special Servicer hereunder or exercise the rights of the Master Servicer and the Special Servicer hereunder; provided, however, that neither the Master Servicer nor the Special Servicer shall be relieved of any of its obligations hereunder by virtue of such performance by the Depositor or its designee; provided, further, that the Depositor may not exercise any right pursuant to Section 7.01 to terminate the Master Servicer or the Special Servicer as a party to this Agreement.  The Depositor shall not have any responsibility or liability for any action or failure to act by the Master Servicer or the Special Servicer and is not obligated to supervise the performance of the Master Servicer or the Special
Servicer under this Agreement or otherwise.


          Section 6.06          Depositor, Master Servicer and Special Servicer to Cooperate with Trustee.


                    The Depositor, the Master Servicer and the Special Servicer shall each furnish such reports, certifications and information as are reasonably requested by the Trustee in order to enable it to perform its duties hereunder.


          Section 6.07          Depositor, Special Servicer and Trustee to Cooperate with Master Servicer.


                    The Depositor, the Special Servicer and the Trustee shall each furnish such reports, certifications and information as are reasonably requested by the Master Servicer in order to enable it to perform its duties hereunder.


          Section 6.08          Depositor, Master Servicer and Trustee to Cooperate with Special Servicer.


                    The Depositor, the Master Servicer and the Trustee shall each furnish such reports, certifications and information as are reasonably requested by the Special Servicer in order to enable it to perform its duties hereunder.


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          Section 6.09          Designation of Special Servicer by the Controlling Class and Controlling Holders.


                    The Holder or Holders of the Certificates evidencing a majority of the Voting Rights allocated to the Controlling Class may at any time and from time to time designate a Person meeting the requirements set forth in Section 6.04 (including, without limitation, Rating Agency confirmation) to serve as Special Servicer hereunder and to replace any existing Special Servicer or any Special Servicer that has resigned or otherwise ceased to serve as Special Servicer; provided that such Holder or Holders shall pay all costs related to the transfer of servicing if the Special Servicer is replaced other than due to an Event of Default.  Such Holder or Holders may also select a Controlling Class Representative that may advise and direct the Special Servicer and whose approval is required for certain actions, as described herein. 
Such Holder or Holders shall so designate a Person to serve as replacement Special Servicer by the delivery to the Trustee, the Master Servicer and the existing Special Servicer of a written notice stating such designation.  The Trustee shall, promptly after receiving any such notice, deliver to the Rating Agencies an executed Notice and Acknowledgment in the form attached hereto as Exhibit I-1.  If such Holders have not replaced the Special Servicer within 30 days of such Special Servicer’s resignation or the date such Special Servicer has ceased to serve in such capacity, the Trustee shall designate a successor Special Servicer meeting the requirements set forth in Section 6.04.  Any designated Person shall become the Special Servicer, subject to satisfaction of the other conditions set forth below, on the date that the Trustee shall have received written confirmation from all of the Rating Agencies that the appointment of such Person will not result in the
qualification, downgrading or withdrawal of the rating or ratings assigned to one or more Classes of the Certificates.  The appointment of such designated Person as Special Servicer shall also be subject to receipt by the Trustee of (1) an Acknowledgment of Proposed Special Servicer in the form attached hereto as Exhibit I-2, executed by the designated Person, and (2) an Opinion of Counsel (at the expense of the Person designated to become the Special Servicer) to the effect that the designation of such Person to serve as Special Servicer is in compliance with this Section 6.09 and all other applicable provisions of this Agreement, that upon the execution and delivery of the Acknowledgment of Proposed Special Servicer the designated Person shall be bound by the terms of this Agreement and that this Agreement shall be enforceable against the designated Person in accordance with its terms.  Any existing Special Servicer shall be deemed to have resigned simultaneously with such
designated Person’s becoming the Special Servicer hereunder; provided, however, that the resigning Special Servicer shall continue to be entitled to receive all amounts accrued or owing to it under this Agreement on or prior to the effective date of such resignation (including Workout Fees earned on Specially Serviced Mortgage Loans which became Corrected Mortgage Loans prior to is resignation), and it shall continue to be entitled to the benefits of Section 6.03 notwithstanding any such resignation.  Such resigning Special Servicer shall cooperate with the Trustee and the replacement Special Servicer in effecting the termination of the resigning Special Servicer’s responsibilities and rights hereunder, including, without limitation, the transfer within two (2) Business Days to the replacement Special Servicer for administration by it of all cash amounts that shall at the time be or should have been credited by the Special Servicer to the Certificate Account or the
REO Account or delivered to the Master Servicer or that are thereafter received with respect to Specially Serviced Mortgage Loans and REO Properties.


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                    Notwithstanding the foregoing, in accordance with the terms of the Five Times Square Intercreditor Agreement, the 2007-C30 Special Servicer may be removed at any time, with or without cause, but only with the consent of the Controlling Class Representative with respect to the Five Times Square Loan. 


                    Notwithstanding the foregoing, in accordance with the terms of the Beacon D.C. & Seattle Pool Intercreditor Agreement, the Morgan Stanley 2007-IQ14 Special Servicer may be removed at any time, with or without cause, but only with the consent of the Controlling Class Representative with respect to the Beacon D.C. & Seattle Pool Loan. 


                    Notwithstanding the foregoing, in accordance with the terms of the Peter Cooper Village & Stuyvesant Town Intercreditor Agreement, the 2007-C30 Special Servicer may be removed at any time, with or without cause, but only with the consent of the Controlling Class Representative with respect to the Peter Cooper Village & Stuyvesant Town Loan.


                    Notwithstanding the foregoing, in accordance with the terms of the Los Angeles International Jewelry Center Intercreditor Agreement, the Companion Holder related to the Los Angeles International Jewelry Center Loan shall have the right to appoint, approve and/or remove the Special Servicer with respect to the Los Angeles International Jewelry Center Loan, and the Controlling Class shall not have the right to replace the Special Servicer with respect to the Los Angeles International Jewelry Center Loan as described above.


                    Notwithstanding the foregoing, in accordance with the terms of the Lembi Pool Intercreditor Agreement, the Companion Holder related to the Lembi Pool Loan shall have the right to appoint, approve and/or remove the Special Servicer with respect to the Lembi Pool Loan, and the Controlling Class shall not have the right to replace the Special Servicer with respect to the Lembi Pool Loan as described above.


                    Notwithstanding the foregoing, in accordance with the terms of the 611 West 6th Street Intercreditor Agreement, the Companion Holder related to the 611 West 6th Street Loan shall have the right to appoint, approve and/or remove the Special Servicer with respect to the 611 West 6th Street Loan, and the Controlling Class shall not have the right to replace the Special Servicer with respect to the 611 West 6th Street Loan as described above.


                    Notwithstanding the foregoing, in accordance with the terms of the Wynn Palms Apartments Intercreditor Agreement, the Companion Holder related to the Wynn Palms Apartments Loan shall have the right to appoint, approve and/or remove the Special Servicer with respect to the Wynn Palms Apartments Loan, and the Controlling Class shall not have the right to replace the Special Servicer with respect to the Wynn Palms Apartments Loan as described above.


                    Notwithstanding the foregoing, in accordance with the terms of the Quail Creek Intercreditor Agreement, the Companion Holder related to the Quail Creek Loan shall have the right to appoint, approve and/or remove the Special Servicer with respect to the Quail Creek Loan, and the Controlling Class shall not have the right to replace the Special Servicer with respect to the Quail Creek Loan as described above.


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                    Notwithstanding the foregoing, in accordance with the terms of the Rancho Vista Apartments Intercreditor Agreement, the Companion Holder related to the Rancho Vista Apartments Loan shall have the right to appoint, approve and/or remove the Special Servicer with respect to the Rancho Vista Apartments Loan, and the Controlling Class shall not have the right to replace the Special Servicer with respect to the Rancho Vista Apartments Loan as described above.


          Section 6.10          Master Servicer or Special Servicer as Owner of a Certificate.


                    The Master Servicer or an Affiliate of the Master Servicer or the Special Servicer or an Affiliate of the Special Servicer may become the Holder of (or, in the case of a Book-Entry Certificate, Certificate Owner with respect to) any Certificate with (except as set forth in the definition of “Certificateholder”) the same rights it would have if it were not the Master Servicer or the Special Servicer or an Affiliate thereof.  If, at any time during which the Master Servicer or the Special Servicer or an Affiliate of the Master Servicer or the Special Servicer is the Holder of (or, in the case of a Book-Entry Certificate, Certificate Owner with respect to) any Certificate, the Master Servicer or the Special Servicer proposes to take action (including for this purpose, omitting to take action) that (i) is not expressly
prohibited by the terms hereof and would not, in the Master Servicer’s or the Special Servicer’s good faith judgment, violate the Servicing Standard, and (ii) if taken, might nonetheless, in the Master Servicer’s or the Special Servicer’s reasonable, good faith judgment, be considered by other Persons to violate the Servicing Standard, then the Master Servicer or the Special Servicer may (but need not) seek the approval of the Certificateholders to such action by delivering to the Trustee a written notice that (a) states that it is delivered pursuant to this Section 6.10, (b) identifies the Percentage Interest in each Class of Certificates beneficially owned by the Master Servicer or the Special Servicer or an Affiliate of the Master Servicer or the Special Servicer, and (c) describes in reasonable detail the action that the Master Servicer or the Special Servicer proposes to take.  The Trustee, upon receipt of such notice, shall forward it to the
Certificateholders (other than the Master Servicer and its Affiliates or the Special Servicer and its Affiliates, as appropriate), together with such instructions for response as the Trustee shall reasonably determine.  If at any time Certificateholders holding greater than 50% of the Voting Rights of all Certificateholders (calculated without regard to the Certificates beneficially owned by the Master Servicer or its Affiliates or the Special Servicer or its Affiliates) shall have failed to object in writing to the proposal described in the written notice, and if the Master Servicer or the Special Servicer shall act as proposed in the written notice within 30 days, such action shall be deemed to comply with, but not modify, the Servicing Standard.  The Trustee shall be entitled to reimbursement from the Master Servicer or the Special Servicer, as applicable, for the reasonable expenses of the Trustee incurred pursuant to this paragraph.  It is not the intent of the foregoing provision
that the Master Servicer or the Special Servicer be permitted to invoke the procedure set forth herein with respect to routine servicing matters arising hereunder, but rather in the case of unusual circumstances.


          Section 6.11          The Controlling Class Representative.


                    (a)               Subject to Sections 6.11(c), 6.11(e), 6.11(f), 6.11(g), 6.11(h), 6.11(i), 6.11(j) and 6.11(k) the Controlling Class Representative will be entitled to advise the Special Servicer with respect to the following actions of the Special Servicer, and notwithstanding 


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anything herein to the contrary except as necessary or advisable to avoid an Adverse REMIC Event or the violation of the Servicing Standard and except as set forth in, and in any event subject to, the second paragraph of this Section 6.11(a), the Special Servicer will not be permitted to take any of the following actions as to which the Controlling Class Representative has objected in writing within ten Business Days of being notified thereof, which notification with respect to the action described in clause (vi) below shall be copied by the Special Servicer to the Master Servicer (provided that if such written objection has not been received by the Special Servicer within such ten Business Day period, then the Controlling Class Representative’s approval will be deemed to have been given):


                              (i)          any
actual or proposed foreclosure upon or comparable conversion (which may include
acquisitions of an REO Property) of the ownership of properties securing such of
the Specially Serviced Mortgage Loans as come into and continue in
default;


                              (ii)         any
modification of a Money Term of a Mortgage Loan (other than a modification
consisting of the extension of the maturity date of a Mortgage Loan for one year
or less);


                              (iii)        any actual or proposed sale of an REO Property (other than in connection with the termination of the Trust Fund or pursuant to Section 3.18);


                              (iv)         any determination to bring an REO Property into compliance with applicable environmental laws or to otherwise address Hazardous Materials located at an REO Property;


                              (v)          any acceptance of substitute or additional collateral or release of material collateral for a Mortgage Loan unless required by the underlying loan documents;


                              (vi)         any waiver of a “due-on-sale” clause or “due-on-encumbrance” clause;


                              (vii)        any acceptance of an assumption agreement releasing a Mortgagor from liability under a Mortgage Loan (other than in connection with a defeasance permitted under the terms of the applicable Mortgage Loan documents);


                              (viii)       any termination of the related property manager for Mortgage Loans having an outstanding principal balance of greater than $5,000,000; and


                              (ix)         any termination of, or modification of, any applicable franchise agreement related to any Mortgage Loan secured by a hotel.


                    In addition, the Controlling Class Representative may direct the Special Servicer to take, or to refrain from taking, such other actions as the Controlling Class Representative may deem advisable or as to which provision is otherwise made in this Agreement; provided that notwithstanding anything herein to the contrary or anything in this Agreement which permits the Controlling Class Representative or a Companion Holder the right to consent to or object to actions taken by the Special Servicer, no such advice or direction, and no objection contemplated by the preceding paragraph may require or cause the Special Servicer to violate any applicable law,


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any provision of this Agreement or the REMIC Provisions (and the Special Servicer shall disregard any such direction or objection), including without limitation the Special Servicer’s obligation to act in accordance with the Servicing Standard, or expose the Master Servicer, the Special Servicer, the Trust Fund or the Trustee or their respective Affiliates, officers, directors, employees or agents to any claim, suit or liability, or materially expand the scope of the Special Servicer or the Special Servicer’s responsibilities hereunder or cause the Special Servicer to act, or fail to act, in a manner which in the reasonable judgment of the Special Servicer is not in the best interests of the Certificateholders.  For the avoidance of doubt, the Master Servicer and/or the Special Servicer will disregard any direction or objection of any party (including without limitation of the Controlling Class Representative or a Companion Holder) if such direction


and or objection causes the Master Servicer or the Special Servicer to violate the Servicing Standard, any applicable law, any provision of this Agreement or the REMIC Provisions or expose the Master Servicer, the Special Servicer, the Trust Fund, the Paying Agent or the Trustee or their respective Affiliates, officers, directors employees or agents to any claim, suit or liability, or materially expand the scope of the Master Servicer’s or Special Servicer’s responsibility hereunder or cause the Master Servicer or the Special Servicer to act, or fail to act, in a manner which in the reasonable judgment of the Master Servicer or the Special Servicer is not in the best interest of the Certificateholders, or the holders of the Companion Loan and consistent with the Servicing Standard.


                    (b)               The Controlling Class Representative, the Controlling Class and the Holder of any Companion Loan will have no liability to the Certificateholders for any action taken, or for refraining from the taking of any action, or for errors in judgment; provided, however, that the Controlling Class Representative, the Controlling Class and the Holder of any Companion Loan will not be protected against any liability to a Controlling Class  Certificateholder which would otherwise be imposed by reason of willful misfeasance, bad faith or negligence in the performance of duties or by reason of reckless disregard of obligations or duties.  By its acceptance of a Certificate, each Certificateholder confirms its understanding that the
Controlling Class, the Controlling Class Representatives or any Holder of a Companion Loan may take actions that favor the interests of one or more Classes of the Certificates over other Classes of the Certificates, and that the Controlling Class, the Controlling Class Representative and the Holder of any Companion Loan may have special relationships and interests that conflict with those of Holders of some Classes of the Certificates, that the Controlling Class, the Controlling Class Representatives or any Holder of a Companion Loan may act solely in the interests of the Holders of the Controlling Class or any Companion Holder, as the case may be, and that the Controlling Class Representatives do not have any duties or liability to the Holders of any Class of Certificates other than the Controlling Class or any Companion Holder and shall have no liability whatsoever for having so acted, and no Certificateholder may take any action whatsoever against the Controlling Class Representatives or any Holder


of any Companion Loan or any director, officer, employee, agent or principal thereof for having so acted.


                    (c)               Notwithstanding anything to the contrary in this Section 6.11 or anything contained in this Agreement, with respect to the Non-Serviced Mortgage Loans, the holder of the related Companion Loan will have the right to replace the special servicer with respect to the related Whole Loan in accordance with the terms of the related Intercreditor Agreement and the applicable Non-Serviced Mortgage Loan Pooling Agreement.  In addition, the holders of the related Pari Passu Companion Loan have the right to consent to any replacement of the special servicer with respect to the related Whole Loan, in accordance with the terms of the related Intercreditor Agreement.


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                    (d)               Notwithstanding anything to the contrary in this Section 6.11, with respect to the Non-Serviced Mortgage Loans (other than the 666 Fifth Avenue Loan), the related holders of the Non-Serviced Mortgage Loans and the related Pari Passu Companion Loans shall share in the rights and responsibilities of the Controlling Class Representative as set forth in the related Intercreditor Agreement.


                    (e)               Notwithstanding anything to the contrary in this Section 6.11 or anything contained in this Agreement, with respect to the 2007-C30 Serviced Mortgage Loans, in the event the 2007-C30 Controlling Class Representative is required to give its consent to any actions with respect thereto, the 2007-C30 Controlling Class Representative shall be required to confer with the Controlling Class Representative, provided however, that in the event the Controlling Class Representative and the 2007-C30 Controlling Class Representative are not able to agree upon a course of action, the decision of the 2007-C30 Controlling Class Representative shall control.


                    (f)               Notwithstanding anything to the contrary in this Section 6.11 or anything contained in this Agreement, with respect to the Los Angeles International Jewelry Center Loan, the Master Servicer and the Special Servicer shall comply with Section 3 of the Los Angeles International Jewelry Center Intercreditor Agreement.


                    (g)               Notwithstanding anything to the contrary in this Section 6.11 or anything contained in this Agreement, with respect to the Lembi Pool Loan, the Master Servicer and the Special Servicer shall comply with Section 3 of the Lembi Pool Intercreditor Agreement.


                    (h)               Notwithstanding anything to the contrary in this Section 6.11 or anything contained in this Agreement, with respect to the 611 West 6th Street Loan, the Master Servicer and the Special Servicer shall comply with Section 3 of the 611 West 6th Street Intercreditor Agreement.


                    (i)               Notwithstanding anything to the contrary in this Section 6.11 or anything contained in this Agreement, with respect to the Wynn Palms Apartments Loan, the Master Servicer and the Special Servicer shall comply with Section 3 of the Wynn Palms Apartments Intercreditor Agreement.


                    (j)               Notwithstanding anything to the contrary in this Section 6.11 or anything contained in this Agreement, with respect to the Quail Creek Loan, the Master Servicer and the Special Servicer shall comply with Section 3 of the Quail Creek Intercreditor Agreement.


                    (k)               Notwithstanding anything to the contrary in this Section 6.11 or anything contained in this Agreement, with respect to the Rancho Vista Apartments Loan, the Master Servicer and the Special Servicer shall comply with Section 3 of the Rancho Vista Apartments Intercreditor Agreement.


                    (l)               Notwithstanding anything in this Section 6.11, nothing herein is intended to limit the right of the Controlling Class Representative to consult on a non-binding basis with the Special Servicer with respect to any Mortgage Loan, or special servicer with respect to any Non-Serviced Mortgage Loan.


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ARTICLE VII


DEFAULT


          Section 7.01          Events of Default.


                    (a)               “Event of Default,” wherever used herein, means any one of the following events:


                                        (i)          any failure by the Master Servicer to deposit into the Certificate Account, which failure, in the case of deposits and remittance to the Certificate Account, continues unremedied 1 Business Day after the date upon which such deposit was required to have been made hereunder, or to deposit into, or remit to the Paying Agent for deposit into the Distribution Account, the Floating Rate Accounts, any amount (other than a P&I Advance) required to be so deposited or remitted by it under this Agreement, which failure, in the case of deposits and remittances to the Distribution Account, the Floating Rate Accounts, continues unremedied until 10:00 a.m., New York City time
on the related Distribution Date; provided, however, to the extent the Master Servicer does not timely make such remittances, the Master Servicer shall pay the Trustee for the account of the Trustee interest on any amount not timely remitted at the Prime Rate from and including the applicable required remittance date to but not including the date such remittance is actually made; or


                                         (ii)          any failure by the Special Servicer to timely deposit into the REO Account or to timely deposit into, or to timely remit to the Master Servicer for deposit into, the Certificate Account, any amount required to be so deposited or remitted under this Agreement; or


                                         (iii)          any failure by the Master Servicer to timely make any Servicing Advance required to be made by it hereunder, which Servicing Advance remains unmade for a period of 5 Business Days following the date on which notice shall have been given to the Master Servicer, as the case may be, by the Trustee as provided in Section 3.03(c); or


                                         (iv)          any failure on the part of the Master Servicer or the Special Servicer or any Servicing Participant duly to observe or perform in any material respect any other of the covenants or agreements on the part of the Master Servicer or the Special Servicer, as the case may be, contained in this Agreement which continues unremedied for a period of 30 days (other than in the case of the Master Servicer’s or Special Servicer’s, as applicable, obligations contemplated by Sections 3.13, 3.14 and 8.17(n) hereof (with respect to any year that a report on Form 10-K is required to be filed) in which case there shall be no cure period) after the date on which written
notice of such failure, requiring the same to be remedied, shall have been given
to the Master Servicer or the Special Servicer, as the case may be, by any other
party hereto or the Master Servicer or the Special Servicer, as the case may be
(with a copy to each other party hereto), or by the Holders of Certificates
entitled to at least 25% of the Voting Rights; provided, however,
that with respect to any such failure which is not curable within such 30-day


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period, the Master Servicer or the Special Servicer, as the case may be, shall have an additional cure period of 30 days to effect such cure so long as the Master Servicer or the Special Servicer, as the case may be, has commenced to cure such failure within the initial 30-day period and has provided the Trustee with an Officer’s Certificate certifying that it has diligently pursued, and is continuing to pursue, a full cure; or


                                         (v)          any breach on the part of the Master Servicer or the Special Servicer of any representation or warranty contained in this Agreement that materially and adversely affects the interests of any Class of Certificateholders and which continues unremedied for a period of 30 days after the date on which notice of such breach, requiring the same to be remedied, shall have been given to the Master Servicer or the Special Servicer, as the case may be, by any other party hereto or the Master Servicer or the Special Servicer, as the case may be (with a copy to each other party hereto), or by the Holders of Certificates entitled to at least 25% of the Voting Rights;
provided, however, with respect to any failure which is not curable within such 30-day period, the Master Servicer or the Special Servicer, as the case may be, shall have an additional cure period of 30 days so long as the Master Servicer or the Special Servicer, as the case may be, has commenced to cure within the initial 30-day period and provided the Trustee with an Officer’s Certificate certifying that it has diligently pursued, and is continuing to pursue, a full cure; or


                                         (vi)          a decree or order of a court or agency or supervisory authority having jurisdiction in the premises in an involuntary case under any present or future federal or state bankruptcy, insolvency or similar law for the appointment of a conservator, receiver, liquidator, trustee or similar official in any bankruptcy, insolvency, readjustment of debt, marshaling of assets and liabilities or similar proceedings, or for the winding-up or liquidation of its affairs, shall have been entered against the Master Servicer or the Special Servicer and such decree or order shall have remained in force undischarged or unstayed for a period of 60 days; or


                                         (vii)          the Master Servicer or the Special Servicer shall consent to the appointment of a conservator, receiver, liquidator, trustee or similar official in any bankruptcy, insolvency, readjustment of debt, marshaling of assets and liabilities or similar proceedings of or relating to it or of or relating to all or substantially all of its property; or


                                        
(viii)         the Master Servicer
or the Special Servicer shall admit in writing its inability to pay its debts
generally as they become due, file a petition to take advantage of any
applicable bankruptcy, insolvency or reorganization statute, make an assignment
for the benefit of its creditors, voluntarily suspend payment of its
obligations, or take any corporate action in furtherance of the foregoing;
or


                                         (ix)          the consolidated net worth of the Master Servicer and of its direct or indirect parent, determined in accordance with generally accepted accounting principles, shall decline to less than $15,000,000; or


                                         (x)          the Master Servicer or the Special Servicer receives actual knowledge that Moody’s has (i) qualified, downgraded or withdrawn its rating or ratings of one or more Classes of Certificates, or (ii) placed one or more Classes of Certificates on “watch status” in contemplation of rating downgrade or withdrawal (and such “watch status” placement 


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shall not have been withdrawn by Moody’s within 60 days of the date that the Master Servicer or the Special Servicer obtained such actual knowledge) and, in the case of either of clauses (i) or (ii), citing servicing concerns with the Master Servicer or the Special Servicer, as applicable, as the sole or material factor in such rating action; or


                                         (xi)          any failure on the part of the Master Servicer or the Special Servicer or any Servicing Participant (other than, with respect to the Master Servicer, Sub-Servicers identified on Exhibit Y hereto) engaged by the Master Servicer or the Special Servicer, as applicable, to observe or perform, following the expiration of any applicable grace and cure periods, in any material respect any of its duties or obligations under Section 8.17 within the timeframe specified; or


                                         (xii)          the Master Servicer or the Special Servicer, as the case may be, is no longer listed on S&P’s Select Servicer List as a U.S. Commercial Mortgage Master Servicer or a U.S. Commercial Mortgage Special Servicer, as the case may be, and such removal continues for a period of 60 days; or


                                        
(xiii)         the Master
Servicer shall fail to remit to the Paying Agent for deposit into the
Distribution Account, on any P&I Advance Date, the full amount of P&I
Advances required to be made on such date, which failure continues unremedied
until 10:00 a.m. New York City time on the next Business Day succeeding such
P&I Advance Date; provided, however, that to the extent the
Master Servicer does not timely make such remittances, the Master Servicer shall
pay the Trustee for the account of the Trustee, interest on any amount not
timely remitted at the Prime Rate from and including the applicable required
remittance date to but not including the date such remittance is actually made;
or


                                        
(xiv)         The Trustee has
received written notice from any Rating Agency that the continuation of the
Master Servicer or Special Servicer in such capacity would result or has
resulted in the downgrade, qualification, or withdrawal of any rating then
assigned by such Rating Agency to any Class of Certificates and such downgrade,
qualification, or withdrawal shall not have been withdrawn within 60 days of the
date that the Master Servicer or the Special Servicer obtained actual knowledge
of such downgrade, qualification, or withdrawal.


                    (b)               If any Event of Default shall occur with respect to the Master Servicer or the Special Servicer (in either case, for purposes of this Section 7.01(b), the “Defaulting Party”) and shall be continuing, then, and in each and every such case, so long as such Event of Default shall not have been remedied, the Trustee may, and at the written direction of the Holders of Certificates entitled to at least 25% of the Voting Rights, the Trustee shall, by notice in writing to the Defaulting Party (with a copy of such notice to each other party hereto and the Rating Agencies), terminate all of the rights and obligations (but not the liabilities for actions and omissions occurring prior thereto) of the Defaulting Party under this Agreement and in
and to the Trust Fund, other than its rights as a Certificateholder hereunder.  From and after the receipt by the Defaulting Party of such written notice of termination, all authority and power of the Defaulting Party under this Agreement, whether with respect to the Certificates (other than as a holder of any Certificate) or the Mortgage Loans or otherwise, shall pass to and be vested in the Trustee pursuant to and under this Section, and, without limitation, the Trustee is hereby authorized and empowered to execute and deliver, on behalf of and at the expense of the


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Defaulting Party, as attorney-in-fact or otherwise, any and all documents and other instruments, and to do or accomplish all other acts or things necessary or appropriate to effect the purposes of such notice of termination, whether to complete the transfer and endorsement or assignment of the Mortgage Loans and related documents, or otherwise.  The Master Servicer and the Special Servicer each agree that, if it is terminated pursuant to this Section 7.01(b), it shall promptly (and in any event no later than ten Business Days subsequent to its receipt of the notice of termination) provide the Trustee with all documents and records, including those in electronic form, requested thereby to enable the Trustee or a successor Master Servicer or Special Servicer to assume the Master Servicer’s or Special Servicer’s, as the case may be, functions hereunder, and shall cooperate with the Trustee in effecting the termination of the Master Servicer’s


or Special Servicer’s, as the case may be, responsibilities and rights hereunder, including, without limitation, (i) the immediate transfer to the Trustee or a successor Master or Special Servicer for administration by it of all cash amounts that shall at the time be or should have been credited by the Master Servicer to the Certificate Account, the Distribution Account, a Servicing Account or a Reserve Account (if the Master Servicer is the Defaulting Party) or that are thereafter received by or on behalf of it with respect to any Mortgage Loan or (ii) the transfer within two (2) Business Days to the Trustee or a successor Special Servicer for administration by it of all cash amounts that shall at the time be or should have been credited by the Special Servicer to the REO Account, the Certificate Account, a Servicing Account or a Reserve Account or delivered to the Master Servicer (if the Special Servicer is the Defaulting Party) or that are thereafter received by or on behalf of it
with respect to any Mortgage Loan or REO Property (provided, however, that the Master Servicer and the Special Servicer each shall, if terminated pursuant to this Section 7.01(b), continue to be entitled to receive all amounts accrued or owing to it under this Agreement on or prior to the date of such termination, whether in respect of Advances or otherwise, and it shall continue to be entitled to the benefits of Section 6.03 notwithstanding any such termination).  Any cost or expenses in connection with any actions to be taken by the Master Servicer, the Special Servicer or the Trustee pursuant to this paragraph shall be borne by the Defaulting Party and if not paid by the Defaulting Party within 90 days after the presentation of reasonable documentation of such costs and expenses, such expense shall be reimbursed by the Trust Fund; provided, however, that the Defaulting Party shall not thereby be relieved of its liability for such expenses.  If and to
the extent that the Defaulting Party has not reimbursed such costs and expenses, the Trustee shall have an affirmative obligation to take all reasonable actions to collect such expenses on behalf of and at the expense of the Trust Fund.  For purposes of this Section 7.01 and of Section 7.03(b), the Trustee shall not be deemed to have knowledge of an event which constitutes, or which with the passage of time or notice, or both, would constitute an Event of Default described in clauses (i)-(viii) of subsection (a) above unless a Responsible Officer of the Trustee has actual knowledge thereof or unless notice of any event which is in fact such an Event of Default is received by the Trustee and such notice references the Certificates, the Trust Fund or this Agreement.


                    (c)               If the Master Servicer receives a notice of termination under Section 7.01(b) solely due to an Event of Default under Section 7.01(a)(x) and/or (xii) and if the terminated Master Servicer provides the Trustee with the appropriate “request for proposal” materials within the 5 Business Days after receipt of such termination notice, the Master Servicer shall continue to serve as Master Servicer hereunder until a successor Master Servicer is selected in accordance with this Section 7.01(c); provided the Trustee has requested the Master Servicer to continue to serve as the Master Servicer during such period.  Upon receipt of the “request for 


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proposal” materials, the Trustee shall promptly thereafter (using such “request for proposal” materials provided by the terminated Master Servicer) solicit good faith bids for the rights to master service the Mortgage Loans under this Agreement from at least 3 Persons qualified to act as Master Servicer hereunder in accordance with Sections 6.02 and 7.02 (any such Person so qualified, a “Qualified Bidder”) or, if 3 Qualified Bidders cannot be located, then from as many Persons as the Trustee can determine are Qualified Bidders; provided, that at the Trustee’s request, the Master Servicer to be terminated pursuant to Section 7.01(b) shall supply the Trustee with the names of Persons from whom to solicit such bids; provided, further, that the Trustee shall not be responsible if less than 3 or no Qualified Bidders submit bids for the right to master service the Mortgage Loans under this Agreement. 
The bid proposal shall require any Successful Bidder (as defined below), as a condition of such bid, to enter into this Agreement as successor Master Servicer, and to agree to be bound by the terms hereof, within 45 days after the notice of termination to the Master Servicer.  The materials provided to the Trustee shall provide for soliciting bids (i) on the basis of such successor Master Servicer retaining all Sub-Servicers to continue the primary servicing of the Mortgage Loans pursuant to the terms of the respective Sub-Servicing Agreements and to enter into a Sub-Servicing Agreement with the terminated Master Servicer to service each of the Mortgage Loans not subject to a Sub-Servicing Agreement at a servicing fee rate per annum equal to the Master Servicing Fee Rate minus 2.0 basis points per Mortgage Loan serviced (each, a “Servicing-Retained Bid”) and (ii) on the basis of terminating each Sub-Servicing Agreement and Sub-Servicer that it is permitted


to terminate in accordance with Section 3.22 (each, a “Servicing-Released Bid”).  The Trustee shall select the Qualified Bidder with the highest cash Servicing-Retained Bid (or, if none, the highest cash Servicing Released Bid) (the “Successful Bidder”) to act as successor Master Servicer hereunder.  The Trustee shall direct the Successful Bidder to enter into this Agreement as successor Master Servicer pursuant to the terms hereof (and, if the successful bid was a Servicing-Retained Bid, to enter into a Sub-Servicing Agreement with the terminated Master Servicer as contemplated above), no later than 45 days after termination of the Master Servicer.


                    Upon the assignment and acceptance of the master servicing rights hereunder to and by the Successful Bidder, the Trustee shall remit or cause to be remitted (i) if the successful bid was a Servicing-Retained Bid, to the Master Servicer to be terminated pursuant to Section 7.01(b) the amount of such cash bid received from the Successful Bidder (net of “out-of-pocket” expenses incurred in connection with obtaining such bid and transferring servicing) and (ii) if the successful bid was a Servicing-Released Bid, to the Master Servicer and each terminated Sub-Servicer its respective Bid Allocation.  In connection with such remittance, the Trustee is entitled to be reimbursed by the Master Servicer for the Trustee’s “out-of-pocket” expenses incurred in connection with obtaining such bid and transferring
servicing as contemplated by clause (i) of this paragraph and by the definition of “Bid Allocation”.


                    If the Successful Bidder has not entered into this Agreement as successor Master Servicer within such 45-day period or no Successful Bidder was identified within such 45-day period, the Master Servicer to be terminated pursuant to Section 7.01(b) shall reimburse the Trustee for all reasonable “out-of-pocket” expenses incurred by the Trustee in connection with such bid process and the Trustee shall have no further obligations under this Section 7.01(c).  The Trustee thereafter may act or may select a successor to act as Master Servicer hereunder in accordance with Section 7.02.


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                    (d)               Notwithstanding the foregoing, if the Trustee or the Master Servicer has received notice from Fitch, Moody’s or S&P that the Master Servicer is no longer approved by Fitch or Moody’s or is no longer listed on S&P’s Select Servicer List as a U.S. Commercial Mortgage Master Servicer, then the Trustee or Master Servicer shall promptly notify the other of the same.


          Section 7.02          Trustee to Act; Appointment of Successor.


                    On and after the time the Master Servicer or the Special Servicer resigns pursuant to Section 6.04 or receives a notice of termination pursuant to Section 7.01, the Trustee shall, unless a successor is appointed pursuant to Section 6.04, be the successor in all respects to the Master Servicer or the Special Servicer, as the case may be, in its capacity as such under this Agreement and the transactions set forth or provided for herein and shall have all (and the former Master Servicer or the Special Servicer, as the case may be, shall cease to have any) of the responsibilities, duties and liabilities (except as provided in the next sentence) of the Master Servicer or the Special Servicer, as the case may be, arising thereafter, including, without limitation, if the Master Servicer is the resigning or terminated party, the Master
Servicer’s obligation to make P&I Advances, the unmade P&I Advances that gave rise to such Event of Default; provided that if the Master Servicer is the resigning or terminated party, and if after the Closing Date the Trustee is prohibited by law or regulation from obligating itself to make P&I Advances (as evidenced by an Opinion of Counsel delivered to the Depositor and the Rating Agencies) the Trustee shall not be obligated to make such P&I Advances; provided, further, that any failure to perform such duties or responsibilities caused by the Master Servicer’s or the Special Servicer’s, as the case may be, failure to provide information or monies required by Section 7.01 shall not be considered a default by the Trustee hereunder.  Notwithstanding anything contrary in this Agreement, the Trustee shall in no event be held responsible or liable with respect to any of the acts, omissions, representations and warranties of the resigning or
terminated party (other than the Trustee) or for any losses incurred by such resigning or terminated party pursuant to Section 3.06 hereunder nor shall the Trustee be required to purchase any Mortgage Loan hereunder.  As compensation therefor, the Trustee shall be entitled to all fees and other compensation which the resigning or terminated party would have been entitled to if the resigning or terminated party had continued to act hereunder (other than fees already earned, including, without limitation, Workout Fees).  Notwithstanding the above and subject to its obligations under Section 3.22(d) and 7.01(b), the Trustee may, if it shall be unwilling in its sole discretion to so act as either Master Servicer or Special Servicer, as the case may be, or shall, if it is unable to so act as either Master Servicer or Special Servicer, as the case may be, or shall, if the Trustee is not approved as a master servicer or a special servicer, as the case may be, by any of the Rating Agencies


or if the Holders of Certificates entitled to at least 51% of the Voting Rights so request in writing to the Trustee promptly appoint, subject to the approval of each of the Rating Agencies (as evidenced by written confirmation therefrom to the effect that the appointment of such institution would not cause the qualification, downgrading or withdrawal of the then current rating on any Class of Certificates) or petition a court of competent jurisdiction to appoint, any established mortgage loan servicing institution that meets the requirements of Section 6.02 (including, without limitation, Rating Agency confirmation); provided, however, that in the case of a resigning or terminated Special Servicer, such appointment shall be subject to the rights of the Holders of Certificates evidencing a majority of the Voting Rights allocated to the Controlling Class to designate a successor pursuant to Section 6.09.  Except with respect to 


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an appointment provided below, no appointment of a successor to the Master Servicer or the Special Servicer hereunder shall be effective until the assumption of the successor to such party of all its responsibilities, duties and liabilities under this Agreement.  Pending appointment of a successor to the Master Servicer or the Special Servicer hereunder, the Trustee shall act in such capacity as hereinabove provided.  Notwithstanding the above, the Trustee shall, if the Master Servicer is the resigning or terminated party and the Trustee is prohibited by law or regulation from making P&I Advances, promptly appoint any established mortgage loan servicing institution that has a net worth of not less than $15,000,000 and is otherwise acceptable to each Rating Agency (as evidenced by written confirmation therefrom to the effect that the appointment of such institution would not cause the qualification, downgrading or withdrawal of the then current rating


on any Class of Certificates), as the successor to the Master Servicer hereunder in the assumption of all or any part of the responsibilities, duties or liabilities of the Master Servicer hereunder (including, without limitation, the obligation to make P&I Advances), which appointment will become effective immediately.  In connection with any such appointment and assumption described herein, the Trustee may make such arrangements for the compensation of such successor out of payments on the Mortgage Loans as it and such successor shall agree; provided, however, that no such compensation shall be in excess of that permitted the resigning or terminated party hereunder.  Such successor and the other parties hereto shall take such action, consistent with this Agreement, as shall be necessary to effectuate any such succession.


          Section 7.03          Notification to Certificateholders and Companion Holders.


                    (a)               Upon any resignation of the Master Servicer or the Special Servicer pursuant to Section 6.04, any termination of the Master Servicer or the Special Servicer pursuant to Section 7.01, any appointment of a successor to the Master Servicer or the Special Servicer pursuant to Section 7.02 or the effectiveness of any designation of a new Special Servicer pursuant to Section 6.09, the Trustee shall give prompt written notice thereof to Certificateholders at their respective addresses appearing in the Certificate Register, and to the Companion Holders.


                    (b)               Not later than the later of (i) 60 days after the occurrence of any event which constitutes or, with notice or lapse of time or both, would constitute an Event of Default and (ii) 5 days after a Responsible Officer of the Trustee has notice of the occurrence of such an event, the Trustee shall transmit by mail to the Depositor, all Certificateholders, the Rating Agencies and the Companion Holders notice of such occurrence, unless such default shall have been cured.


          Section 7.04          Waiver of Events of Default.


                    The Holders representing at least 66-2/3% of the Voting Rights allocated to the Classes of Certificates affected by any Event of Default hereunder may waive such Event of Default; provided, however, that an Event of Default under clause (i), (ii), (x) or (xii) of Section 7.01(a) may be waived only by all of the Certificateholders of the affected Classes.  Upon any such waiver of an Event of Default, such Event of Default shall cease to exist and shall be deemed to have been remedied for every purpose hereunder.  No such waiver shall extend to any subsequent or other Event of Default or impair any right consequent thereon except to the 


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extent expressly so waived.  Notwithstanding any other provisions of this Agreement, for purposes of waiving any Event of Default pursuant to this Section 7.04, Certificates registered in the name of the Depositor or any Affiliate of the Depositor shall be entitled to Voting Rights with respect to the matters described above.


          Section 7.05          Additional Remedies of Trustee Upon Event of Default.


                    During the continuance of any Event of Default, so long as such Event of Default shall not have been remedied, the Trustee, in addition to the rights specified in Section 7.01, shall have the right, in its own name and as trustee of an express trust, to take all actions now or hereafter existing at law, in equity or by statute to enforce its rights and remedies and to protect the interests, and enforce the rights and remedies, of the Certificateholders (including the institution and prosecution of all judicial, administrative and other proceedings and the filings of proofs of claim and debt in connection therewith).  No remedy provided for by this Agreement shall be exclusive of any other remedy, and each and every remedy shall be cumulative and in addition to any other remedy, and no delay or omission to exercise any right or remedy


shall impair any such right or remedy or shall be deemed to be a waiver of any Event of Default.  Under no circumstances shall the rights provided to the Trustee under this Section 7.05 be construed as a duty or obligation of the Trustee.


ARTICLE VIII


CONCERNING THE TRUSTEE


          Section 8.01          Duties of Trustee.


                    (a)               The Trustee, prior to the occurrence of an Event of Default and after the curing or waiver of all Events of Default which may have occurred, undertakes to perform such duties and only such duties as are specifically set forth in this Agreement.  If an Event of Default occurs and is continuing, the Trustee shall exercise such of the rights and powers vested in it by this Agreement, and use the same degree of care and skill in their exercise as a prudent man would exercise or use under the circumstances in the conduct of his own affairs.  Any permissive right of the Trustee contained in this Agreement shall not be construed as a duty.


                    (b)               The Trustee, upon receipt of all resolutions, certificates, statements, opinions, reports, documents, orders or other instruments furnished to the Trustee that are specifically required to be furnished pursuant to any provision of this Agreement (other than the Mortgage Files, the review of which is specifically governed by the terms of Article II), shall examine them to determine whether they conform to the requirements of this Agreement to the extent specifically set forth herein.  If any such instrument is found not to conform to the requirements of this Agreement in a material manner, the Trustee shall take such action as it deems appropriate to have the instrument corrected.  The Trustee shall not be responsible for the accuracy or
content of any resolution, certificate, statement, opinion, report, document, order or other instrument furnished by the Depositor or the Master Servicer or the Special Servicer, and accepted by the Trustee in good faith, pursuant to this Agreement.


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                    (c)               No provision of this Agreement shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own misconduct; provided, however, that:


                                        (i)          Prior to the occurrence of an Event of Default, and after the curing of all such Events of Default which may have occurred, the duties and obligations of the Trustee shall be determined solely by the express provisions of this Agreement, the Trustee shall not be liable except for the performance of such duties and obligations as are specifically set forth in this Agreement, no implied covenants or obligations shall be read into this Agreement against the Trustee and, in the absence of bad faith on the part of the Trustee, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon any certificates
or opinions furnished to the Trustee and conforming to the requirements of this Agreement;


                                        
(ii)         The Trustee
shall not be personally liable for an error of judgment made in good faith by a
Responsible Officer or Responsible Officers of the Trustee unless it shall be
proved that the Trustee was negligent in ascertaining the pertinent facts if it
was required to do so;


                                        
(iii)        The Trustee
shall not be personally liable with respect to any action taken, suffered or
omitted to be taken by it in good faith in accordance with the direction of
Holders of Certificates entitled to at least 25% of the Voting Rights relating
to the time, method and place of conducting any proceeding for any remedy
available to the Trustee or exercising any trust or power conferred upon the
Trustee under this Agreement; and


                                        
(iv)         The protections,
immunities and indemnities afforded to the Trustee hereunder shall also be
available to the Paying Agent, Authenticating Agent, Certificate Registrar,
REMIC Administrator and Custodian.


                    For so long as reports are required to be filed with the Commission under the Exchange Act with respect to the Trust Fund, the Trustee shall not utilize any Subcontractor that is a Prohibited Party. The Trustee shall indemnify the Depositor, the Sponsors and any director, officer, employee or agent of the Depositor or the Sponsors and hold them harmless against any and all claims, losses, damages, penalties, fines, forfeitures, reasonable and necessary legal fees and related costs, judgments, and any other costs, fees and expenses that any of them may sustain in any way related to the breach by the Trustee of its obligation set forth in the preceding sentence or the failure of the Trustee to perform any of its obligations under Section 3.13.  This indemnity shall survive the termination of this Agreement or the earlier resignation or
removal of the Trustee.


          Section 8.02          Certain Matters Affecting Trustee.


                    Except as otherwise provided in Section 8.01 and Article X:


                    (a)               the Trustee may rely upon and shall be protected in acting or refraining from acting upon any resolution, Officer’s Certificate, certificate of auditors or any other certificate, statement, instrument, opinion, report, notice, request, consent, order, appraisal, bond or other paper or document reasonably believed by it to be genuine and to have been signed or presented by the proper party or parties;


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                    (b)               the Trustee may consult with counsel and the written advice of such counsel or any Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken or suffered or omitted by it hereunder in good faith and in accordance therewith;


                    (c)               the Trustee shall be under no obligation to exercise any of the trusts or powers vested in it by this Agreement or to make any investigation of matters arising hereunder or, except as provided in Section 10.01 or 10.02, to institute, conduct or defend any litigation hereunder or in relation hereto at the request, order or direction of any of the Certificateholders, pursuant to the provisions of this Agreement, unless such Certificateholders shall have offered to the Trustee reasonable security or indemnity against the costs, expenses and liabilities which may be incurred therein or thereby; the Trustee shall be under no obligation to take any action to enforce the rights of the Trust Fund under the applicable Swap Contract unless it is assured, in
its sole discretion, that reasonable security and indemnity against the costs and expenses of such action(s) will be offered by the Swap Counterparty or any other party (other than the Trust Fund); the Trustee shall not be required to expend or risk its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured to it; provided, however, that nothing contained herein shall, relieve the Trustee of the obligation, upon the occurrence of an Event of Default which has not been cured, to exercise such of the rights and powers vested in it by this Agreement, and to use the same degree of care and skill in their exercise as a prudent man would exercise or use under the circumstances in the conduct of his own affairs;


                    (d)               the Trustee shall not be personally liable for any action reasonably taken, suffered or omitted by it in good faith and believed by it to be authorized or within the discretion or rights or powers conferred upon it by this Agreement;


                    (e)               prior to the occurrence of an Event of Default hereunder and after the curing of all Events of Default which may have occurred, the Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, approval, bond or other paper or document, unless requested in writing to do so by Holders of Certificates entitled to at least 25% of the Voting Rights; provided, however, that if the payment within a reasonable time to the Trustee of the costs, expenses or liabilities likely to be incurred by it in the making of such investigation is, in the opinion of the Trustee, not reasonably assured to the Trustee by the security
afforded to it by the terms of this Agreement, the Trustee may require reasonable indemnity against such expense or liability as a condition to taking any such action;


                    (f)               the Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through agents or attorneys; provided, however, that the Trustee shall remain responsible for all acts and omissions of such agents or attorneys within the scope of their employment to the same extent as it is responsible for its own actions and omissions hereunder;


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                    (g)               the Trustee shall not be responsible for any act or omission of the Master Servicer or the Special Servicer (unless the Trustee is acting as Master Servicer or the Special Servicer) or the Depositor; and


                    (h)               neither the Trustee nor the Certificate Registrar shall have any obligation or duty to monitor, determine or inquire as to compliance with any restriction on transfer imposed under Article V under this Agreement or under applicable law with respect to any transfer of any Certificate or any interest therein, other than to require delivery of the certification(s) and/or Opinions of Counsel described in said Article applicable with respect to changes in registration of record ownership of Certificates in the Certificate Register and to examine the same to determine substantial compliance with the express requirements of this Agreement.  The Trustee and Certificate Registrar shall have no liability for transfers, including transfers made through the book


entry facilities of the Depository or between or among Depository Participants or beneficial owners of the Certificates, made in violation of applicable restrictions except for its failure to perform its express duties in connection with changes in registration of record ownership in the Certificate Register.


          Section 8.03          Trustee Not Liable for Validity or Sufficiency of Certificates or Mortgage Loans.


                    The recitals contained herein and in the Certificates, other than the statements attributed to the Trustee in Article II, Section 8.15 and the signature of the Certificate Registrar and the Authenticating Agent set forth on each outstanding Certificate, shall be taken as the statements of the Depositor, the Master Servicer or the Special Servicer, as the case may be, and the Trustee does not assume any responsibility for their correctness.  Except as set forth in Section 8.15, the Trustee makes no representations as to the validity or sufficiency of this Agreement or of any Certificate (other than as to the signature of the Trustee set forth thereon) or of any Mortgage Loan or related document.  The Trustee shall not be accountable for the use or application by the Depositor of any of the Certificates issued to it or of the
proceeds of such Certificates, or for the use or application of any funds paid to the Depositor in respect of the assignment of the Mortgage Loans to the Trust Fund, or any funds deposited in or withdrawn from the Certificate Account or any other account by or on behalf of the Depositor, the Master Servicer or the Special Servicer unless the Trustee is acting as Paying Agent.  The Trustee shall not be responsible for the accuracy or content of any resolution, certificate, statement, opinion, report, document, order or other instrument furnished by the Depositor, the Master Servicer or the Special Servicer, and accepted by the Trustee in good faith, pursuant to this Agreement.


          Section 8.04          Trustee May Own Certificates.


                    The Trustee or any agent of the Trustee in its individual or any other capacity, may become the owner or pledgee of Certificates with the same rights (except as otherwise provided in the definition of “Certificateholder”) as it would have if it were not the Trustee or such agent.


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          Section 8.05          Fees and Expenses of Trustee; Indemnification of Trustee.


                    (a)               On each Distribution Date, the Trustee shall withdraw from the general funds on deposit in the Distribution Account as provided in Section 3.05(b), prior to any distributions to be made therefrom on such date, and pay to itself all earned but unpaid Trustee Fees, as compensation for all services rendered by the Trustee, in the execution of the trusts hereby created and in the exercise and performance of any of the powers and duties of the Trustee hereunder at the Trustee Fee Rate.  No Trustee Fee shall be payable with respect to the Companion Loans.  The Trustee Fee (which shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust) shall constitute the Trustee’s sole compensation for
such services to be rendered by it.


                    (b)               The Trustee (whether in its capacity as such or individually) and any director, officer, employee, affiliate, agent or “control” person within the meaning of the Securities Act of 1933 of the Trustee shall be entitled to be indemnified for and held harmless by the Trust Fund against any loss, liability or reasonable “out-of-pocket” expense (including, without limitation, costs and expenses of litigation, and of investigation, counsel fees, damages, judgments and amounts paid in settlement) arising out of, or incurred in connection with this Agreement, the Mortgage Loans or the Certificates (including in respect of the offering of such Certificates) or any act of the Master Servicer or the Special Servicer taken on behalf of the Trustee


as provided for herein; provided that such expense is an “unanticipated expense incurred by the REMIC” within the meaning of Treasury Regulations Section 1.860G-1(b)(3)(ii); provided, further, that neither the Trustee, nor any of the other above specified Persons shall be entitled to indemnification pursuant to this Section 8.05(b) for (1) any liability specifically required to be borne thereby pursuant to the terms hereof, or (2) any loss, liability or expense incurred by reason of willful misfeasance, bad faith or negligence in the performance of the Trustee’s obligations and duties hereunder, or by reason of its negligent disregard of such obligations and duties, or as may arise from a breach of any representation, warranty or covenant of the Trustee as applicable, made herein.  The provisions of this Section 8.05(b) shall survive any resignation or removal of the Trustee and appointment of a successor Trustee.


          Section 8.06          Eligibility Requirements for Trustee.


                    The Trustee hereunder shall at all times be an association or a corporation organized and doing business under the laws of the United States of America or any State thereof or the District of Columbia, authorized under such laws to exercise trust powers, having a combined capital and surplus of at least $100,000,000 and subject to supervision or examination by a federal or state banking authority.  If such association or corporation publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of this Section the combined capital and surplus of such association or corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published.  The Trustee shall also be an entity
with a long term unsecured debt rating of at least (a) ”A+” by Fitch, “Aa3” by Moody’s and “A+” by S&P and a short term unsecured debt rating of at least “F1” by Fitch and “A-1” by S&P or (b) such other rating that shall not result in the qualification, downgrading or withdrawal of the rating or ratings assigned to one or more Classes of the Certificates by any Rating Agency as confirmed in writing.  In case at any time the Trustee shall cease to be eligible in accordance 


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with the provisions of this Section, the Trustee, shall resign immediately in the manner and with the effect specified in Section 8.07; provided that if the Trustee shall cease to be so eligible because its combined capital and surplus is no longer at least $100,000,000 or its long-term unsecured debt rating no longer conforms to the requirements of the immediately preceding sentence, and if the Trustee proposes to the other parties hereto to enter into an agreement with (and reasonably acceptable to) each of them, and if in light of such agreement the Trustee’s continuing to act in such capacity would not (as evidenced in writing by each Rating Agency) cause any Rating Agency to qualify, downgrade or withdraw any rating assigned thereby to any Class of Certificates, then upon the execution and delivery of such agreement the Trustee shall not be required to resign, and may continue in such capacity, for so long as none of the ratings assigned by
the Rating Agencies to the Certificates is qualified, downgraded or withdrawn thereby.  The bank, trust company, corporation or association serving as Trustee may have normal banking and trust relationships with the Depositor, the Master Servicer, the Special Servicer and their respective Affiliates but, except to the extent permitted or required by Section 7.02, shall not be an “Affiliate” (as such term is defined in Section III of PTE 2000-58) of the Master Servicer, the Special Servicer, any Sub-Servicer, the Underwriters, the Depositor, or any obligor with respect to Mortgage Loans constituting more than 5.0% of the aggregate authorized principal balance of the Mortgage Loans as of the date of the initial issuances of the Certificates or any “Affiliate” (as such term is defined in Section III of PTE 2000-58) of any such Person.


          Section 8.07          Resignation and Removal of Trustee.


                    (a)               The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor, the Master Servicer, the Special Servicer, the Swap Counterparty and to all Certificateholders at their respective addresses set forth in the Certificate Register.  Upon receiving such notice of resignation, the Master Servicer shall promptly appoint a successor trustee meeting the requirements in Section 8.06 and acceptable to the Depositor and the Rating Agencies by written instrument, in duplicate, which instrument shall be delivered to the resigning Trustee and to the successor trustee.  A copy of such instrument shall be delivered to the Depositor, the Special Servicer, the Swap Counterparty and the
Certificateholders by the Master Servicer.  If no successor trustee shall have been so appointed and have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee.


                    (b)               If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 and shall fail to resign after written request therefor by the Depositor or the Master Servicer, or if at any time the Trustee shall become incapable of acting, or shall be adjudged bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or if the Trustee or Paying Agent (if different from the Trustee) shall fail (other than by reason of the failure of either the Master Servicer or the Special Servicer to timely perform its obligations hereunder or as a
result of other circumstances beyond the Trustee’s reasonable control), to timely deliver any report to be delivered by the Trustee pursuant to Section 4.02 and such failure shall continue unremedied for a period of 5 days, or if the Trustee or Paying Agent (if different from the Trustee) fails to make 


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distributions required pursuant to Section 3.05(b), 4.01 or 9.01, then the Depositor may remove the Trustee and appoint a successor trustee if necessary, acceptable to the Master Servicer and the Rating Agencies (as evidenced by written confirmation therefrom to the effect that the appointment of such institution would not cause the qualification, downgrading or withdrawal of the then-current rating on any Class of Certificates) by written instrument, in duplicate, which instrument shall be delivered to the Trustee so removed and to the successor trustee.  A copy of such instrument shall be delivered to the Master Servicer, the Special Servicer and the Certificateholders by the Depositor.


                    (c)               The Holders of Certificates entitled to at least 51% of the Voting Rights may at any time remove the Trustee and appoint a successor trustee, if necessary, by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor trustee so appointed.  A copy of such instrument shall be delivered to the Depositor, the Special Servicer and the remaining Certificateholders by the successor so appointed.  In the event that the Trustee is terminated or removed pursuant to this Section 8.07, all of its rights and obligations under this
Agreement and in and to the Mortgage Loans shall be terminated, other than any rights or obligations that accrued prior to the date of such termination or removal (including the right to receive all fees, expenses and other amounts (including, without limitation, P&I Advances and accrued interest thereon) accrued or owing to it under this Agreement, with respect to periods prior to the date of such termination or removal and no termination without cause shall be effective until the payment of such amounts to the Trustee).


                    (d)               Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor trustee as provided in Section 8.08.


                    (e)               Upon any resignation or removal of the Trustee and appointment of a successor trustee, such successor trustee shall give notice thereof to the holder of each of the Non-Serviced Companion Loans.


          Section 8.08          Successor Trustee.


                    (a)               Any successor trustee appointed as provided in Section 8.07 shall execute, acknowledge and deliver to the Depositor, the Master Servicer, the Special Servicer and to its predecessor trustee an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee shall become effective and such successor trustee without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor hereunder, with the like effect as if originally named as trustee herein.  The predecessor trustee shall deliver to the successor trustee all Mortgage Files and related documents and statements held by it hereunder (other than any Mortgage Files at the
time held on its behalf by a third-party Custodian, which Custodian shall become the agent of the successor trustee), and the Depositor, the Master Servicer, the Special Servicer and the predecessor trustee shall execute and deliver such instruments and do such other things as may reasonably be required to more fully and certainly vest and confirm in the successor trustee all such rights, powers, duties and obligations, and to enable the successor trustee to perform its obligations hereunder.


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                    (b)               No successor trustee shall accept appointment as provided in this Section 8.08, unless at the time of such acceptance such successor trustee shall be eligible under the provisions of Section 8.06 and the Rating Agencies have provided confirmation pursuant to such Section.


                    (c)               Upon acceptance of appointment by a successor trustee as provided in this Section 8.08, such successor trustee shall mail notice of the succession of such trustee hereunder to the Depositor and the Certificateholders.


          Section 8.09          Merger or Consolidation of Trustee.


                    Any entity into which the Trustee may be merged or converted or with which the Trustee may be consolidated or any entity resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any entity succeeding to the corporate trust business of the Trustee, shall be the successor of the Trustee hereunder; provided such entity shall be eligible under the provisions of Section 8.06 and the Rating Agencies have provided confirmation pursuant to such Section, without the execution or filing of any paper or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding.


          Section 8.10          Appointment of Co-Trustee or Separate Trustee.


                    (a)               Notwithstanding any other provisions hereof, at any time, for the purpose of meeting any legal requirements of any jurisdiction in which any part of the Trust Fund or property securing the same may at the time be located, the Master Servicer and the Trustee acting jointly shall have the power and shall execute and deliver all instruments to appoint one or more Persons approved by the Trustee to act as co-trustee or co-trustees, jointly with the Trustee, or separate trustee or separate trustees, of all or any part of the Trust Fund, and to vest in such Person or Persons, in such capacity, such title to the Trust Fund, or any part thereof, and, subject to the other provisions of this Section 8.10, such powers, duties, obligations, rights and trusts
as the Master Servicer and the Trustee may consider necessary or desirable.  If the Master Servicer shall not have joined in such appointment within 15 days after the receipt by it of a request to do so, or in case an Event of Default in respect of the Master Servicer shall have occurred and be continuing, the Trustee alone shall have the power to make such appointment.  No co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 8.06 hereunder and no notice to Holders of Certificates of the appointment of co-trustee(s) or separate trustee(s) shall be required under Section 8.08 hereof.


                    (b)               In
the case of any appointment of a co-trustee or separate trustee pursuant to this
Section 8.10, all rights, powers, duties and obligations conferred or
imposed upon the Trustee shall be conferred or imposed upon and exercised or
performed by the Trustee and such separate trustee or co-trustee jointly, except
to the extent that under any law of any jurisdiction in which any particular act
or acts are to be performed (whether as Trustee hereunder or as successor to the
Master Servicer or the Special Servicer hereunder), the Trustee shall be
incompetent or unqualified to perform such act or acts, in which event such
rights, powers, duties 


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and obligations (including the holding of title to the
Trust Fund or any portion thereof in any such jurisdiction) shall be exercised
and performed by such separate trustee or co-trustee at the direction of the
Trustee.


                    (c)               Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them.  Every instrument appointing any separate trustee or co-trustee shall refer to this Agreement and the conditions of this Article VIII.  Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Agreement, specifically including every provision of this Agreement relating to the conduct of, affecting the liability of, or affording
protection to, the Trustee.  Every such instrument shall be filed with the Trustee.


                    (d)               Any separate trustee or co-trustee may, at any time, constitute the Trustee, its agent or attorney-in-fact, with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Agreement on its behalf and in its name.  If any separate trustee or co-trustee shall cease to exist, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trustee.


                    (e)               The appointment of a co-trustee or separate trustee under this Section 8.10 shall not relieve the Trustee of its duties and responsibilities hereunder.


          Section 8.11          Appointment of Custodians.


                    (a)               The Trustee may appoint at the Trustee’s expense one or more Custodians to hold all or a portion of the Mortgage Files as agent for the Trustee.  Each Custodian shall be a depository institution supervised and regulated by a federal or state banking authority, shall have combined capital and surplus of at least $10,000,000, shall be qualified to do business in the jurisdiction in which it holds any Mortgage File and shall not be the Depositor, any Mortgage Loan Seller or any Affiliate of the Depositor or any Mortgage Loan Seller.  Neither the Master Servicer nor the Special Servicer shall have any duty to verify that any such Custodian is qualified to act as such in accordance with the preceding sentence.  Any such appointment of a
third party Custodian and the acceptance thereof shall be pursuant to a written agreement, which written agreement shall (i) be consistent with this Agreement in all material respects and requires the Custodian to comply with this Agreement in all material respects and requires the Custodian to comply with all of the applicable conditions of this Agreement; (ii) provide that if the Trustee shall for any reason no longer act in the capacity of Trustee hereunder (including, without limitation, by reason of an Event of Default), the successor trustee or its designee may thereupon assume all of the rights and, except to the extent such obligations arose prior to the date of assumption, obligations of the Custodian under such agreement or alternatively, may terminate such agreement without cause and without payment of any penalty or termination fee; and (iii) not permit the Custodian any rights of indemnification that may be satisfied out of assets of the Trust Fund.  The appointment of


one or more Custodians shall not relieve the Trustee from any of its obligations hereunder, and the Trustee shall remain responsible and liable for all acts 


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and omissions of any Custodian.  The initial Custodian shall be the Trustee.  Notwithstanding anything herein to the contrary, if the Trustee is no longer the Custodian, any provision or requirement herein requiring notice or any information or documentation to be provided to the Custodian shall be construed to require that such notice, information or documents also be provided to the Trustee.  Any Custodian hereunder (other than the Trustee) shall at all times maintain a fidelity bond and errors and omissions policy in amounts customary for custodians performing duties similar to those set forth in this Agreement.


                    (b)               For so long as reports are required to be filed with the Commission under the Exchange Act with respect to the Trust Fund, the Custodian shall not utilize any Subcontractor for the performance of its duties hereunder if such Subcontractor would be “participating in the servicing function” within the meaning of Item 1122 of Regulation AB. The Custodian shall indemnify the Depositor, the Sponsors and any director, officer, employee or agent of the Depositor or the Sponsors and hold them harmless against any and all claims, losses, damages, penalties, fines, forfeitures, reasonable and necessary legal fees and related costs, judgments, and any other costs, fees and expenses that any of them may sustain in any way related to the breach by the
Custodian of its obligation set forth in the preceding sentence or the failure of the Custodian to perform any of its obligations under Section 3.13.  This indemnity shall survive the termination of this Agreement or the earlier resignation or removal of the Custodian.


          Section 8.12          Appointment of Authenticating Agents.


                    (a)               The Trustee may at the Trustee’s expense appoint one or more Authenticating Agents, which shall be authorized to act on behalf of the Trustee in authenticating Certificates.  The Trustee shall cause any such Authenticating Agent to execute and deliver to the Trustee an instrument in which such Authenticating Agent shall agree to act in such capacity, in accordance with the obligations and responsibilities herein.  Each Authenticating Agent must be organized and doing business under the laws of the United States of America or of any State, authorized under such laws to do a trust business, have a combined capital and surplus of at least $15,000,000, and be subject to supervision or examination by federal or state authorities.  Each
Authenticating Agent shall be subject to the same obligations, standard of care, protection and indemnities as would be imposed on, or would protect, the Trustee hereunder.  The appointment of an Authenticating Agent shall not relieve the Trustee from any of its obligations hereunder, and the Trustee shall remain responsible and liable for all acts and omissions of the Authenticating Agent.  Wells Fargo Bank, N.A. shall be the initial Authenticating Agent.  If Wells Fargo Bank, N.A. is removed as Trustee, then Wells Fargo Bank, N.A. shall be terminated as Authenticating Agent.  If the Authenticating Agent (other than Wells Fargo Bank, N.A.) resigns or is terminated, the Trustee shall appoint a successor Authenticating Agent which may be the Trustee or an Affiliate thereof.  In the absence of any other Person appointed in accordance herewith acting as Authenticating Agent, the Trustee hereby agrees to act in such capacity in accordance with the terms hereof. 
Notwithstanding anything herein to the contrary, if the Trustee is no longer the Authenticating Agent, any provision or requirement herein requiring notice or any information or documentation to be provided to the Authenticating Agent shall be construed to require that such notice, information or documentation also be provided to the Trustee.


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                    (b)               Any Person into which any Authenticating Agent may be merged or converted or with which it may be consolidated, or any Person resulting from any merger, conversion, or consolidation to which any Authenticating Agent shall be a party, or any Person succeeding to the corporate agency business of any Authenticating Agent, shall continue to be the Authenticating Agent without the execution or filing of any paper or any further act on the part of the Trustee or the Authenticating Agent.


                    (c)               Any Authenticating Agent may at any time resign by giving at least 30 days’ advance written notice of resignation to the Trustee, the Certificate Registrar, the Master Servicer, the Special Servicer and the Depositor.  The Trustee may at any time terminate the agency of any Authenticating Agent by giving written notice of termination to such Authenticating Agent, the Master Servicer, the Certificate Registrar and the Depositor.  Upon receiving a notice of resignation or upon such a termination, or in case at any time any Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section 8.12, the Trustee may appoint a successor Authenticating Agent, in which case the Trustee shall given written
notice of such appointment to the Master Servicer, the Certificate Registrar and the Depositor and shall mail notice of such appointment to all Holders of Certificates; provided, however, no successor Authenticating Agent shall be appointed unless eligible under the provisions of this Section 8.12.  Any successor Authenticating Agent upon acceptance of its appointment hereunder shall become vested with all the rights, powers, duties and responsibilities of its predecessor hereunder, with like effect as if originally named as Authenticating Agent.  No Authenticating Agent shall have responsibility or liability for any action taken by it as such at the direction of the Trustee.


          Section 8.13          Access to Certain Information.


                    The Trustee shall afford to the Master Servicer, the Special Servicer, each Rating Agency and the Depositor, any Certificateholder and to the OTS, the FDIC and any other banking or insurance regulatory authority that may exercise authority over any Certificateholder, access to any documentation regarding the Mortgage Loans within its control that may be required to be provided by this Agreement or by applicable law.  Such access shall be afforded without charge but only upon reasonable prior written request and during normal business hours at the offices of the Trustee designated by it.  Upon request and with the consent of the Depositor and at the cost of the requesting Party, the Trustee shall provide copies of such documentation to the Depositor, any Certificateholder and to the OTS, the FDIC and any other bank or insurance
regulatory authority that may exercise authority over any Certificateholder.


          Section 8.14          Appointment of REMIC Administrators.


                    (a)               The Trustee may appoint at the Trustee’s expense, one or more REMIC Administrators, which shall be authorized to act on behalf of the Trustee in performing the functions set forth in Sections 3.17, 10.01 and 10.02 herein.  The Trustee shall cause any such REMIC Administrator to execute and deliver to the Trustee an instrument in which such REMIC Administrator shall agree to act in such capacity, with the obligations and responsibilities herein.  The appointment of a REMIC Administrator shall not relieve the Trustee from any of its obligations hereunder, and the Trustee shall remain responsible and liable for all acts and omissions of the REMIC Administrator.  Each REMIC Administrator must be acceptable to the 


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Trustee and must be organized and doing business under the laws of the United States of America or of any State and be subject to supervision or examination by federal or state authorities.  In the absence of any other Person appointed in accordance herewith acting as REMIC Administrator, the Trustee hereby agrees to act in such capacity in accordance with the terms hereof.  If Wells Fargo Bank, N.A. is removed as Trustee, then Wells Fargo Bank, N.A. shall be terminated as REMIC Administrator.


                    (b)               Any Person into which any REMIC Administrator may be merged or converted or with which it may be consolidated, or any Person resulting from any merger, conversion, or consolidation to which any REMIC Administrator shall be a party, or any Person succeeding to the corporate agency business of any REMIC Administrator, shall continue to be the REMIC Administrator without the execution or filing of any paper or any further act on the part of the Trustee or the REMIC Administrator.


                    (c)               Any REMIC Administrator may at any time resign by giving at least 30 days’ advance written notice of resignation to the Trustee the Certificate Registrar, the Trustee, the Master Servicer, the Special Servicer and the Depositor.  The Trustee may at any time terminate the agency of any REMIC Administrator by giving written notice of termination to such REMIC Administrator, the Master Servicer, the Certificate Registrar and the Depositor.  Upon receiving a notice of resignation or upon such a termination, or in case at any time any REMIC Administrator shall cease to be eligible in accordance with the provisions of this Section 8.14, the Trustee may appoint a successor REMIC Administrator, in which case the Trustee shall given
written notice of such appointment to the Master Servicer and the Depositor and shall mail notice of such appointment to all Holders of Certificates; provided, however, that no successor REMIC Administrator shall be appointed unless eligible under the provisions of this Section 8.14.  Any successor REMIC Administrator upon acceptance of its appointment hereunder shall become vested with all the rights, powers, duties and responsibilities of its predecessor hereunder, with like effect as if originally named as REMIC Administrator.  No REMIC Administrator shall have responsibility or liability for any action taken by it as such at the direction of the Trustee.


          Section 8.15          Representations and Warranties of Trustee.


                    The Trustee hereby represents and warrants to the Master Servicer, the Special Servicer and the Depositor and for the benefit of the Certificateholders, as of the Closing Date, that:


                                        (i)          The Trustee is a national banking association duly organized, validly existing and in good standing under the laws of the United States of America.


                                        (ii)         The
execution and delivery of this Agreement by the Trustee, and the performance and
compliance with the terms of this Agreement by the Trustee, will not violate the
Trustee’s organizational documents or constitute a default (or an event
which, with notice or lapse of time, or both, would constitute a default) under,
or result in a material breach of, any material agreement or other material
instrument to which it is a party or by which it is bound.


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                                        (iii)          Except to the extent that the laws of certain jurisdictions in which any part of the Trust Fund may be located require that a co-trustee or separate trustee be appointed to act with respect to such property as contemplated by Section 8.10, the Trustee has the full power and authority to carry on its business as now being conducted and to enter into and consummate all transactions contemplated by this Agreement, has duly authorized the execution, delivery and performance of this Agreement, and has duly executed and delivered this Agreement.


                                        (iv)          This Agreement, assuming due authorization, execution and delivery by the other parties hereto, constitutes a valid, legal and binding obligation of the Trustee, enforceable against the Trustee in accordance with the terms hereof (including with respect to any advancing obligations hereunder), subject to (A) applicable bankruptcy, insolvency, reorganization, moratorium and other laws affecting the enforcement of creditors’ rights generally and the rights of creditors of banks, and (B) general principles of equity, regardless of whether such enforcement is considered in a proceeding in equity or at law.


                                        (v)          The Trustee is not in violation of, and its execution and delivery of this Agreement and its performance and compliance with the terms of this Agreement will not constitute a violation of, any law, any order or decree of any court or arbiter, or any order, regulation or demand of any federal, state or local governmental or regulatory authority, which violation, in the Trustee’s good faith and reasonable judgment, is likely to affect materially and adversely the ability of the Trustee to perform its obligations under this Agreement.


                                        (vi)          No litigation is pending or, to the best of the Trustee’s knowledge, threatened against the Trustee that, if determined adversely to the Trustee, would prohibit the Trustee from entering into this Agreement or, in the Trustee’s good faith and reasonable judgment, is likely to materially and adversely affect the ability of the Trustee to perform its obligations under this Agreement.


                                        (vii)          Any consent, approval, authorization or order of any court or governmental agency or body required for the execution, delivery and performance by the Trustee of or compliance by the Trustee with this Agreement or the consummation of the transactions contemplated by this Agreement has been obtained and is effective.


          Section 8.16          Appointment of the Paying Agent.


                    The Trustee may appoint a Paying Agent for the purpose of making distributions to Certificateholders hereunder.  The Trustee shall cause such Paying Agent to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee that such Paying Agent will hold all sums held by it for the payment to Certificateholders in an Eligible Account in trust for the benefit of the Certificateholders entitled thereto until such sums shall be paid to the Certificateholders.  All funds remitted by the Trustee or the Master Servicer to any such Paying Agent for the purpose of making distributions shall be paid to Certificateholders on each Distribution Date and any amounts not so paid shall be returned on such Distribution Date to the Trustee or the Master Servicer, as applicable.  Any Paying Agent shall be
either a bank or a trust company or otherwise authorized under law to exercise corporate trust powers and shall have a short-term debt rating of at least “A-1” and a long-term debt rating


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of at least “A2” (or its equivalent) by Moody’s or a rating of at least “A” by Fitch or a rating of at least “A-” by S&P or such lower rating as will not result in qualification, downgrading or withdrawal of the ratings then assigned to the Certificates, as evidenced in writing by the Rating Agencies.  Any such appointment of a third party Paying Agent and the acceptance thereof shall be pursuant to a written agreement, which written agreement shall (i) be consistent with this Agreement in all material respects and requires the Paying Agent to comply with this Agreement in all material respects and requires the Paying Agent to comply with all of the applicable conditions of this Agreement; (ii) provide that if the Trustee shall for any reason no longer act in the capacity of Trustee hereunder (including, without limitation, by reason of an Event of Default), the successor trustee or its designee may
(A) thereupon assume all of the rights and, except to the extent they arose prior to the date of assumption, obligations of the Paying Agent under such agreement or (B) terminate such agreement without cause and without payment of any penalty or termination fee; and (iii) not permit the Paying Agent any rights or indemnification that may be satisfied out of assets of the Trust Fund.  The appointment of any Paying Agent shall not relieve the Trustee from any of its obligations hereunder, and the Trustee shall remain responsible and liable for all acts and omissions of any Paying Agent to the extent such Paying Agent would have been responsible pursuant to the terms hereof.  The initial Paying Agent shall be the Trustee.  Notwithstanding anything herein to the contrary, if the Trustee is no longer the Paying Agent, any provision or requirement herein requiring notice or any information to be provided to the Paying Agent shall be construed to require that such notice,
information or documentation also be provided to the Trustee.  If the Trustee appoints a Paying Agent other than the Trustee, the Trustee shall promptly notify the Master Servicer of such appointment and give to the Master Servicer the Paying Agent’s wiring instructions and notice address.


          Section 8.17          Reports to the Securities and Exchange Commission; Available Information.


                    (a)               Intent of Parties.  The parties hereto acknowledge and agree that the purpose of this Section 8.17 is to facilitate and allow compliance by the Depositor with the provisions of Regulation AB and related rules and regulations of the Commission.  The Depositor, the Trustee or the Master Servicer shall not exercise its rights to request delivery of information or other performance under these provisions other than in reasonable good faith or for purposes other than compliance with the Securities Act, the Exchange Act, the Sarbanes-Oxley Act or the rules and regulations of the Commission thereunder; provided, however, that in all instances the reports and certificates contemplated by Sections 3.13 and 3.14 shall be provided


to the Rating Agencies as required thereunder.  The parties hereto acknowledge that interpretations of the requirements of Regulation AB may change over time, whether due to interpretive guidance provided by the Commission or its staff, and agree to comply with requests made by the Depositor, the Trustee or the Master Servicer in reasonable good faith for delivery of information under these provisions on the basis of evolving interpretations of Regulation AB.  The Master Servicer, the Special Servicer, any Sub-Servicer and the Trustee shall cooperate fully with the Depositor, the Trustee or the Master Servicer, as applicable, to deliver to the Depositor, the Trustee or the Master Servicer, as applicable (including any of their assignees or designees), any and all statements, reports, certifications, records and any other information necessary in the reasonable good faith determination of the Depositor, the Trustee or the Master Servicer, as applicable, to permit the Depositor to comply with
the provisions of Regulation AB, together with such disclosures relating to the Master Servicer, the Special Servicer, any Additional 


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Servicer, any Sub-Servicer, any Subcontractor and the Trustee, as applicable, or the servicing of the Mortgage Loans, reasonably believed by the Depositor or the Master Servicer, as applicable, to be necessary in order to effect such compliance.  The Master Servicer, the Special Servicer, the Trustee and any Sub-Servicer shall have a reasonable period of time to comply with any request made under this Section 8.17(a) but in any event, shall, upon reasonable advance request, provide information in sufficient time to allow the Depositor to satisfy any related filing requirements.


                    (b)               Filing Requirements.  (i) The Master Servicer, the Special Servicer and the Trustee shall reasonably cooperate with the Depositor in connection with the satisfaction of the Trust Fund’s reporting requirements under the Exchange Act.  Pursuant to Sections 8.17(i), 8.17(j) and 8.17(k) below, the Trustee shall prepare for execution by the Depositor any Forms 8-K, 10-D and 10-K required by the Exchange Act and the rules and regulations of the Commission thereunder, in order to permit the timely filing thereof, and the Trustee shall file (via the Commission’s Electronic Data Gathering and Retrieval System) such Forms executed by the Depositor.


                                        (ii)          In the event that the Trustee is unable to timely file with the Commission all or any required portion of any Form 8-K, 10-D or 10-K required to be filed by this Agreement because required disclosure information was either not delivered to it or delivered to it after the delivery deadlines set forth in this Agreement, the Trustee will promptly on the day such filing would be required to be made (and in any event prior to 1:00 p.m. New York time on such day) notify the Depositor and, to the extent such party failed to provide any required disclosure information, the Master Servicer and/or the Special Servicer, of such inability to make a timely filing with the
Commission.  In the case of Form 10-D and 10-K, the Depositor, Master Servicer, Special Servicer and Trustee will cooperate to prepare and file a Form 12b-25 and a 10-D/A and 10-K/A, as applicable, pursuant to Rule 12b-25 of the Exchange Act within the time period required under such Rule.  In the case of Form 8-K, the Trustee will, upon receipt of all required Form 8-K Disclosure Information and upon the approval and direction of the Depositor, include such disclosure information on the next succeeding Form 10-D to be filed for the Trust Fund.  In the event that any previously filed Form 8-K, 10-D or 10-K needs to be amended, the Trustee will notify the Depositor and any other parties as needed and such parties agree to cooperate to prepare any necessary 8-K/A, 10-D/A or 10-K/A; provided however, the Trustee will not be required to notify the Depositor or any other party hereto in advance of amending Form 10-D where such amendment is solely for the purpose of re-stating
the Distribution Date Statement.  Any Form 15, Form 12b-25 or any amendment to Form 8-K, 10-D or 10-K shall be signed by the Depositor.  The parties to this Agreement acknowledge that the timely preparation, arrangement for execution and filing of Form 15, a Form 12b-25 or any amendment to Form 8-K, 10-D or 10-K is dependent on such parties performing their duties under this Section.  The Trustee shall have no liability for any loss, expense, damage, claim arising out of or with respect to any failure to properly prepare, arrange for execution and/or timely file any such Form 12b-25, Form 15 or any amendments to Forms 8-K, 10-D or 10-K, where such failure results from the Trustee’s inability or failure to receive, on a timely basis, any information from any other party hereto needed to prepare, arrange for execution or file such Form 12b-25, Form 15 or any amendments to Forms 8-K, 10-D or 10-K, not resulting from its own negligence, bad faith or willful misconduct.


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                    (c)               The Master Servicer, the Special Servicer, any Servicing Participant and the Trustee, as applicable, shall (i) upon written request of the Depositor, confirm in writing within 5 Business Days of receipt of such request that the following is true and correct, or if it is not true and correct to provide reasonable adequate disclosure of the pertinent facts, in writing, to the Depositor of any of the following, and (ii) as promptly as practicable following the Master Servicer, Special Servicer or Trustee (in each case on behalf of itself and any of its Sub-Servicers or Servicing Participants) obtaining actual knowledge shall use commercially reasonable efforts to notify the Depositor that any of the following is not true and correct: 
(A) the Master Servicer, the Special Servicer or the Trustee, as applicable, has not been terminated as servicer or trustee in a commercial mortgage loan securitization, either due to a servicing default or to application of a servicing performance test or trigger, other than as disclosed in the Prospectus Supplement; (B) no material noncompliance with the applicable Servicing Criteria with respect to other securitizations of commercial mortgage loans involving the Master Servicer, the Special Servicer or the Trustee, as applicable, as servicer or trustee has been disclosed or reported by the Master Servicer, the Special Servicer or the Trustee, as applicable, other than as disclosed in the Prospectus Supplement; (C) no material changes to the Master Servicer’s, the Special Servicer’s or the Trustee’s, as applicable, policies or procedures with respect to the servicing function or trustee function it will perform under this Agreement for commercial mortgage loans of a
type similar to the Mortgage Loans have occurred during the three-year period immediately preceding the Closing Date, other than as disclosed in the Prospectus Supplement; (D) there is no material risk that any aspects of the Master Servicer’s, the Special Servicer’s or the Trustee’s, as applicable, financial condition could have a material impact on the performance of the Mortgage Loans or the Certificates, other than as disclosed in the Prospectus Supplement; (E) there are no legal or governmental proceedings pending (or known to be contemplated) against the Master Servicer, the Special Servicer, the Trustee or any Sub-Servicer, as applicable, that would be material to Certificateholders other than as disclosed in the Prospectus Supplement; and (F) there are no affiliations, relationships or transactions relating to the Master Servicer, the Special Servicer, the Trustee or any Sub-Servicer, as applicable, with respect to the issuance of the Certificates and any party
thereto identified by the Depositor of a type described in Item 1119 of Regulation AB other than as disclosed in the Prospectus Supplement.


                    (d)               Pursuant to the 2007-C30 Pooling and Servicing Agreement, the Trustee shall cooperate with the 2007-C30 Master Servicer and the 2007-C30 Special Servicer in establishing the time periods for preparation of the Form 10-D reports for the documentation of the requirements of Regulation AB with respect to the Five Times Square Loan and the Peter Cooper Village & Stuyvesant Town (until January 30 of the first year in which the Trustee files a Form 15 Suspension Notice with respect to the Trust Fund).  On or before the Closing Date, the Trustee shall contact the 2007-C30 Special Servicer to establish such time periods for preparation of the Form 10-D.  The Depositor shall cooperate with the Trustee and take part in any telephone conferences or
other forms of reasonable communication with the 2007-C30 Master Servicer and the 2007-C30 Special Servicer, as applicable, to establish such time periods for preparation of the Form 10-D.


                    (e)               Pursuant to the Morgan Stanley 2007-IQ14 Pooling and Servicing Agreement, the Trustee shall cooperate with the Morgan Stanley 2007-IQ14 Master Servicer and the Morgan Stanley 2007-IQ14 Special Servicer in establishing the time periods for preparation of the Form 10-D reports for the documentation of the requirements of Regulation AB with 


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respect to the Beacon D.C. & Seattle Pool Loan (until January 30 of the first year in which the Trustee files a Form 15 Suspension Notice with respect to the Trust Fund).  On or before the Closing Date, the Trustee shall contact the Morgan Stanley 2007-IQ14 Special Servicer to establish such time periods for preparation of the Form 10-D.  The Depositor shall cooperate with the Trustee and take part in any telephone conferences or other forms of reasonable communication with the Morgan Stanley 2007-IQ14 Master Servicer and the Morgan Stanley 2007-IQ14 Special Servicer, as applicable, to establish such time periods for preparation of the Form 10-D.


                    (f)               Pursuant to the GECMC 2007-C1 Pooling and Servicing Agreement, the Trustee shall cooperate with the GECMC 2007-C1 Master Servicer and the GECMC 2007-C1 Special Servicer in establishing the time periods for preparation of the Form 10-D reports for the documentation of the requirements of Regulation AB with respect to the 666 Fifth Avenue Loan (until January 30 of the first year in which the Trustee files a Form 15 Suspension Notice with respect to the Trust Fund).  On or before the Closing Date, the Trustee shall contact the GECMC 2007-C1 Special Servicer to establish such time periods for preparation of the Form 10-D.  The Depositor shall cooperate with the Trustee and take part in any telephone conferences or other forms of reasonable
communication with the GECMC 2007-C1 Master Servicer and the GECMC 2007-C1 Special Servicer, as applicable, to establish such time periods for preparation of the Form 10-D.


                    (g)               Succession; Subcontractors.  As a condition to the succession to the Master Servicer, Special Servicer or any Servicing Participant as servicer or Sub-Servicer under this Agreement or any Sub-Servicing Agreement by any Person (i) into which the Master Servicer and Special Servicer or such Servicing Participant may be merged or consolidated, or (ii) which may be appointed as a successor to the Master Servicer, Special Servicer or any Servicing Participant, the Master Servicer or Special Servicer, as applicable, shall provide to the Depositor, at least 15 calendar days prior to the effective date of such succession or appointment, (x) written notice to the Depositor of such succession or appointment and (y) in writing and in
form and substance reasonably satisfactory to the Depositor, all information necessary to comply with the reporting requirements of Section 8.17(j) hereof.


                    (h)               [Reserved].


                    (i)               The Form 10-D requires the registrant to indicate (by checking “yes” or “no”) that it “(1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.”  The Depositor shall notify the Trustee in writing, no later than the fifth calendar day after the related Distribution Date with respect to the filing of a report on Form 10-D if the answer to the questions should be “no.” The Trustee shall be entitled to rely on such representations in preparing, executing and/or filing any such
report.  Within 15 days after each Distribution Date (subject to permitted extensions under the Exchange Act), the Trustee shall prepare and file on behalf of the Trust Fund any Form 10-D required by the Exchange Act, in form and substance as required by the Exchange Act.  The Trustee shall file each Form 10-D with a copy of the related Distribution Date Statement attached thereto.  Any necessary disclosure in addition to the Distribution Date Statement that is required to be included on Form 10-D (“Additional Form 10-D Disclosure”)


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shall, pursuant to the paragraph immediately below, be reported by the parties set forth on Exhibit U to the Depositor and the Trustee and approved by the Depositor, and the Trustee will have no duty or liability for any failure hereunder to determine or prepare any Additional Form 10-D Disclosure absent such reporting, direction and approval or as set forth in the next paragraph.


                    For so long as the Trust Fund is subject to the reporting requirements of the Exchange Act, within 5 calendar days after the related Distribution Date, (i) the parties listed on Exhibit U hereto shall be required to provide to the Trustee and the Depositor, to the extent a responsible officer has actual knowledge thereof, in EDGAR-compatible format, or in such other format as otherwise agreed upon by the Trustee and the Depositor and such party, the form and substance of the Additional Form 10-D Disclosure described on Exhibit U applicable to such party, (ii) the parties listed on Exhibit U hereto shall include with such Additional Form 10-D Disclosure, an Additional Disclosure Notification in the form attached hereto as Exhibit V and (iii) the Depositor shall approve, as to form and substance, or
disapprove, as the case may be, the inclusion of the Additional Form 10-D Disclosure on Form 10-D.  The Trustee has no duty under this Agreement to monitor or enforce the performance by the parties listed on Exhibit U of their duties under this paragraph or proactively solicit or procure from such parties any Additional Form 10-D Disclosure information.  The Depositor will be responsible for any reasonable fees assessed and any expenses incurred by the Trustee in connection with including any Additional Form 10-D Disclosure on Form 10-D pursuant to this paragraph.


                    After preparing the Form 10-D, the Trustee shall forward electronically a draft copy of the Form 10-D to the Depositor for review and execution.  Within two Business Days after receipt of such copy, but no later than the 12th calendar day after the Distribution Date, the Depositor shall notify the Trustee in writing (which may be furnished electronically) of any changes to or approval of such Form 10-D, and a duly authorized representative of the Depositor shall sign the Form 10-D and return an electronic or fax copy of such signed Form 10-D (with an original executed hard copy to follow by overnight mail) to the Trustee.  If a Form 10-D cannot be filed on time or if a previously filed Form 10-D needs to be amended, the Trustee will follow the procedures set forth in Section 8.17(b)(ii).  Promptly (but no later than 1
Business Day) after filing with the Commission, the Trustee will make available on its internet website a final executed copy of each Form 10-D prepared and filed by the Trustee.  The signing party at the Depositor can be contacted at Wachovia Commercial Mortgage Securities, Inc., 301 South College Street, Charlotte, North Carolina 28288, Attention:  Charles Culbreth, Managing Director, Elizabeth Stinson, Vice President, H. Royer Culp, Jr., Vice President, Lars Carlsten, Esq., Senior Vice President and Assistant General Counsel.  The parties to this Agreement acknowledge that the timely preparation, arrangement for execution and filing of Form 10-D is dependent on such parties strictly observing all applicable deadlines in the performance of their duties under this Section 8.17(i).  The Trustee shall have no liability for any loss, expense, damage, claim arising out of or with respect to any failure to properly prepare, arrange for execution and/or timely file such Form 10-D,
where such failure results from the Trustee’s inability or failure to receive, on a timely basis, any information from any other party hereto needed to prepare, arrange for execution or file such Form 10-D, not resulting from its own negligence, bad faith or willful misconduct.


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                    (j)               Form 8-K Filings.  Within four (4) Business Days after the occurrence of an event requiring disclosure on Form 8-K (each such event, a “Reportable Event”), and if requested by the Depositor, the Trustee shall prepare and file on behalf of the Trust Fund any Form 8-K, as required by the Exchange Act; provided that the Depositor shall file the initial Form 8-K in connection with the issuance of the Certificates.  Any disclosure or information related to a Reportable Event or that is otherwise required to be included on Form 8-K (other than the initial Form 8-K) (“Form 8-K Disclosure Information”) shall be determined and prepared by or at the direction of the Depositor pursuant to the paragraph
immediately below, be reported by the parties set forth on Exhibit X to the Depositor and the Trustee and approved by the Depositor, and the Trustee will have no duty or liability for any failure hereunder to determine or prepare any Form 8-K Disclosure Information absent such reporting, direction and approval or as set forth in the next paragraph.  The Trustee has no duty under this Agreement to enforce the performance by the parties listed on Exhibit X of their duties under this paragraph or proactively solicit or procure from such parties any Form 8-K Disclosure Information.


                    For so long as the Trust Fund is subject to the reporting requirements of the Exchange Act, no later than Noon (Eastern Time) on the second Business Day after the occurrence of a Reportable Event (i) the parties listed on Exhibit X hereto shall be required to provide to the Trustee and the Depositor, to the extent a responsible officer has actual knowledge thereof, in EDGAR-compatible format, or in such other format as otherwise agreed upon by the Trustee and the Depositor and such party, the form and substance of the Form 8-K Disclosure Information described on Exhibit X applicable to such party, (ii) the parties listed on Exhibit X hereto shall  include with such Additional Form 8-K Disclosure, an Additional Disclosure Notification in the form attached hereto as Exhibit V, and (iii) the Depositor
will approve, as to form and substance, or disapprove, as the case may be, the inclusion of the Form 8-K Disclosure Information on Form 8-K; provided that to the extent possible, the Trustee shall take commercially reasonable efforts to meet the filing requirements set forth herein notwithstanding the failure of any other party to comply with its delivery requirements in a timely fashion.  The Depositor will be responsible for any reasonable fees assessed and any expenses incurred by the Trustee in connection with including any Form 8-K Disclosure Information on Form 8-K pursuant to this paragraph.


                    After preparing the Form 8-K, the Trustee shall forward, no later than noon (Eastern Time) on the third Business Day after the Reportable Event (but in no event earlier than 24 hours after having received the Form 8-K Disclosure Information pursuant to the immediately preceding paragraph), electronically a copy of the Form 8-K to the Depositor for review.  Promptly, but no later than the close of business on the third Business Day after the Reportable Event, the Depositor shall notify the Trustee in writing (which may be furnished electronically) of any changes to or approval of such Form 8-K.  No later than Noon (Eastern Time) on the 4th Business Day after the Reportable Event, a duly authorized representative of the Depositor shall sign the Form 8-K and return an electronic or fax copy of such signed Form 8-K (with an original
executed hard copy to follow by overnight mail) to the Trustee.  The Trustee shall file the Form 8-K no later than 5:30 p.m. on the fourth Business Day; otherwise, if a Form 8-K cannot be filed on time or if a previously filed Form 8-K needs to be amended, the Trustee will follow the procedures set forth in Section 8.17(b)(ii).  Promptly (but no later than 1 Business Day) after filing with the Commission, the Trustee will make available on its internet website a final executed copy of each Form 8-K prepared and filed by the Trustee.  The signing party at the 


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Depositor can be contacted at Wachovia Commercial Mortgage Securities, Inc., 301 South College Street, Charlotte, North Carolina 28288, Attention:  Managing Director.  The parties to this Agreement acknowledge that the timely preparation, arrangement for execution and filing of Form 8-K is dependent on such parties strictly observing all applicable deadlines in the performance of their duties under this Section 8.17(j).  The Trustee shall have no liability for any loss, expense, damage, claim arising out of or with respect to any failure to properly prepare, arrange for execution and/or timely file such Form 8-K, where such failure results from the Trustee’s inability or failure to receive, on a timely basis, any information from any other party hereto needed to prepare, arrange for execution or file such Form 8-K, not resulting from its own negligence, bad faith or willful misconduct.


                    Notwithstanding the timeframe set forth in the second previous paragraph, the Master Servicer, the Special Servicer and the Trustee shall use reasonable efforts to promptly notify (and the Master Servicer and the Special Servicer shall use reasonable efforts to cause each Sub-Servicer and each Servicing Participant with which, in each case, it has entered into a relationship with respect to the Mortgage Loans (other than a party to this Agreement) to promptly notify) the Depositor and the Trustee, on the first Business Day after its occurrence, of any Reportable Event of which it has actual knowledge.


                    (k)               Form 10-K Filings.  (i) Form 10-K requires the registrant to indicate (by checking “yes” or “no”) that it “(1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.”  The Depositor shall notify the Trustee in writing, no later than March 15th of any year in which a Form 10-K will be filed in respect of the Trust Fund if the answer to the questions should be “no.” The Trustee shall be entitled to rely on such representations in preparing, executing and/or filing any such
report.  Within 90 days after the end of each fiscal year of the Trust Fund or such earlier date as may be required by the Exchange Act (the “10-K Filing Deadline”) (it being understood that the fiscal year for the Trust Fund ends on December 31st of each year), commencing in March 2008, the Trustee shall prepare and file on behalf of the Trust Fund a Form 10-K, in form and substance as required by the Exchange Act.  Each such Form 10-K shall include the following items, in each case to the extent they have been delivered to the Trustee within the applicable time frames set forth in this Agreement:


                                        (ii)          an annual compliance statement for the Master Servicer, the Special Servicer and each Additional Servicer engaged by the Master Servicer, the Special Servicer or the Trustee, as applicable as described under Section 3.13(b);


                                        (iii)          (A) the annual reports on assessment of compliance with Relevant Servicing Criteria for the Master Servicer, the Special Servicer, each Additional Servicer, each Sub-Servicer and the Trustee, and any Servicing Participant engaged by such parties, as described under Section 3.13(a), and (B) if any such report on assessment of compliance with Relevant Servicing Criteria described under Section 3.13(a) identifies any material instance of noncompliance, disclosure identifying such instance of noncompliance, or if such report on assessment of compliance with Relevant Servicing Criteria described under Section 3.13(a) is not included as an exhibit
to such Form 10-K, disclosure that such report is not included and an explanation why such report is not included;


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                                        (iv)          (A) the registered public accounting firm attestation report for the Master Servicer, the Special Servicer, each Additional Servicer, the Trustee, each Sub-Servicer engaged by the Master Servicer or Special Servicer and any Servicing Participant engaged by such parties, as described under Section 3.14, and (B) if any registered public accounting firm attestation report described under Section 3.14 identifies any material instance of noncompliance, disclosure identifying such instance of noncompliance, or if any such registered public accounting firm attestation report is not included as an exhibit to such Form 10-K, disclosure that such report is not
included and an explanation why such report is not included; and


                                        (v)          a certification in the form attached hereto as Exhibit O, with such changes as may be necessary or appropriate as a result of changes promulgated by the Commission (the “Sarbanes-Oxley Certification”), which shall, except as described below, be signed by the senior officer of the Depositor in charge of securitization.


                    Any disclosure or information in addition to (ii) through (v) above that is required to be included on Form 10-K (“Additional Form 10-K Disclosure”) shall, pursuant to the paragraph immediately below, be reported by the parties set forth on Exhibit W to the Depositor and the Trustee and approved by the Depositor, and the Trustee will have no duty or liability for any failure hereunder to determine or prepare any Additional Form 10-K Disclosure absent such reporting, direction and approval or as set forth in the next paragraph.


                    For so long as the Trust Fund is subject to the reporting requirements of the Exchange Act, no later than March 15 (with no cure period), commencing in March 2008, or April 15 of each year in which the Trust Fund is not required to file a Form 10-K (i) the parties listed on Exhibit W hereto shall be required to provide to the Trustee and the Depositor, to the extent a responsible officer has actual knowledge thereof, in EDGAR-compatible format, or in such other format as otherwise agreed upon by the Trustee and the Depositor and such party, the form and substance of the Additional Form 10-K Disclosure described on Exhibit W applicable to such party, (ii) the parties listed on Exhibit W hereto shall include with such Additional Form 10-K Disclosure, an Additional Disclosure Notification in the form attached hereto as


Exhibit V, and (iii) the Depositor will approve, as to form and substance, or disapprove, as the case may be, the inclusion of the Additional Form 10-K Disclosure on Form 10-K.  The Trustee has no duty under this Agreement to enforce the performance by the parties listed on Exhibit W of their duties under this paragraph or proactively solicit or procure from such parties any Additional Form 10-K Disclosure information.  The Depositor will be responsible for any reasonable fees assessed and any expenses incurred by the Trustee in connection with including any Additional Form 10-K Disclosure on Form 10-K pursuant to this paragraph.


                    After preparing the Form 10-K, the Trustee shall forward electronically a copy of the Form 10-K to the Depositor for review no later than March 23rd of each year in which the Trust Fund is required to file a Form 10-K.  Within 3 Business Days after receipt of such copy, but no later than March 25th, the Depositor shall notify the Trustee in writing (which may be furnished electronically) of any changes to or approval of such Form 10-K.  No later than end of business Eastern Time on the fourth Business Day prior to the 10-K Filing Deadline, a senior officer of the Depositor in charge of securitization shall sign the Form 10-K and return an electronic or fax copy of such signed Form 10-K (with an original executed hard copy to follow


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by overnight mail) to the Trustee.  If a Form 10-K cannot be filed on time or if a previously filed Form 10-K needs to be amended, the Trustee will follow the procedures set forth in Section 8.17(b)(ii).  Promptly (but no later than 1 Business Day) after filing with the Commission, the Trustee will make available on its internet website a final executed copy of each Form 10-K prepared and filed by the Trustee.  The signing party at the Depositor can be contacted at Wachovia Commercial Mortgage Securities, Inc., 301 South College Street, Charlotte, North Carolina 28288, Attention:  Charles Culbreth, Managing Director, Elizabeth Stinson, Vice President, H. Royer Culp, Jr., Vice President, Lars Carlsten, Esq., Senior Vice President and Assistant General Counsel.  The parties to this Agreement acknowledge that the timely preparation, arrangement for execution and filing of Form 10-K is dependent on such parties (and any Additional
Servicer or Servicing Participant) observing all applicable deadlines in the performance of their duties under this Section 8.17(k), Section 3.13 and Section 3.14.  The Trustee shall have no liability for any loss, expense, damage, claim arising out of or with respect to any failure to properly prepare, arrange for execution and/or timely file such Form 10-K, where such failure results from the Trustee’s inability or failure to receive, on a timely basis, any information from any other party hereto needed to prepare, arrange for execution or file such Form 10-K, not resulting from its own negligence, bad faith or willful misconduct.


                    In the event the Master Servicer, the Special Servicer or the Trustee is terminated or resigns pursuant to the terms of this Agreement, such party shall provide, and each such party shall cause any Servicing Participant engaged by it to provide, and the Master Servicer shall use its reasonable efforts to cause any Additional Servicer to provide, a Back-Up Certification to the Certifying Person pursuant to this Section 8.17(k) with respect to the period of time that the Master Servicer, the Special Servicer or the Trustee was subject to this Agreement.


                    Each of the parties acknowledges and agrees that one of the purposes of this Agreement is to facilitate compliance by the Depositor with the provisions of Regulation AB.  Therefore, each of the parties agrees that (a) the obligations of the parties hereunder shall be interpreted in such a manner as to accomplish that purpose, (b) the parties’ obligations hereunder will be supplemented and modified as necessary to be consistent with any such amendments, interpretive advice or guidance, convention or consensus among active participants in the asset-backed securities markets, advice of counsel, or otherwise in respect of the requirements of Regulation AB, (c) the parties shall comply with requests made by the Depositor for delivery of additional or different information as the Trustee or the Depositor may determine in good
faith is necessary to comply with the provisions of Regulation AB, and (d) no amendment of this Agreement shall be required to effect any such changes in the parties’ obligations as are necessary to accommodate evolving interpretations of the provisions of Regulation AB.


                    (l)               Indemnification.  (i) The Trustee shall indemnify and hold harmless the Depositor, the Master Servicer, the Special Servicer and any Servicing Participant and each of their respective officers, directors and Affiliates from and against any losses, damages, penalties, fines, forfeitures, reasonable and necessary legal fees and related costs, judgments and other costs and expenses arising out of or based upon a breach of the Trustee’s obligations under Sections 3.13, 3.14 or 8.17, and (ii) the Master Servicer, Special Servicer and any Servicing Participant shall each severally and not jointly indemnify and hold harmless the Depositor, the Trustee and, in the case of each of the Master Servicer, the Special Servicer and any
Servicing Participant, each of the other such parties, and all their respective officers, directors and 


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Affiliates from and against any losses, damages, penalties, fines, forfeitures, reasonable and necessary legal fees and related costs, judgments and other costs and expenses arising out of or based upon a breach (following the expiration of any applicable notice, grace and cure periods) of the Master Servicer’s, Special Servicer’s or Servicing Participant’s obligations, as the case may be, under Sections 3.13, 3.14 or 8.17.  If the indemnification provided for herein is unavailable or insufficient to hold harmless any party receiving the benefit of such indemnification (an “Indemnified Party”), then (i) the Trustee agrees that it shall contribute to the amount paid or payable to the Indemnified Party as a result of the losses, claims, damages or liabilities of such party in such proportion as is appropriate to reflect the relative fault of the Indemnified Party on the one hand and the Trustee on the other in connection
with a breach (following the expiration of any applicable grace periods) of the Trustee’s obligations under Sections 3.13, 3.14 or 8.17, (ii) the Master Servicer agrees that it shall contribute to the amount paid or payable to the Indemnified Party as a result of the losses, claims, damages or liabilities of the Indemnified Party in such proportion as is appropriate to reflect the relative fault of the Indemnified Party on the one hand and the Master Servicer on the other in connection with a breach (following the expiration of any applicable grace periods) of the Master Servicer’s obligations under Sections 3.13, 3.14 or 8.17, (iii) the Special Servicer agrees that it shall contribute to the amount paid or payable by the Indemnified Party as a result of the losses, claims, damages or liabilities of the Indemnified Party in such proportion as is appropriate to reflect the relative fault of the Indemnified Party on the one hand and the Special Servicer on the other in connection
with a breach (following the expiration of any applicable grace periods) of the Special Servicer’s obligations under Sections 3.13, 3.14 or 8.17, and (iv) the Master Servicer, the Special Servicer or the Trustee, as applicable, shall use its best efforts to cause any Servicing Participant engaged by it to contribute to the amount paid or payable by the Indemnified Party as a result of the losses, claims, damages or liabilities of the Indemnified Party in such proportion as is appropriate to reflect the relative fault of the Indemnified Party on the one hand and such Servicing Participant on the other in connection with a breach (following the expiration of any applicable grace periods) of such Servicing Participant’s obligations under Sections 3.13, 3.14 or 8.17.  Notwithstanding the foregoing, none of the Trustee, the Master Servicer, the Special Servicer or any Servicing Participant shall be deemed to not be in compliance under this Agreement for purposes of this
Section 8.17(l), for failing to deliver any item required under Section 8.17 by the time required hereunder with respect to any reporting period for which the Trust Fund is not required to file Exchange Act reports (which reporting periods will include any occurring after the Trustee files the Form 15 Suspension Notification relating to the automatic suspension of reporting in respect of the Trust Fund under the Exchange Act).


                    (m)               Form 15 Filing.  On or prior to January 30 of the first year in which the Trustee is able to do so under applicable law, the Trustee shall prepare and file a Form 15 Suspension Notification relating to the automatic suspension of reporting in respect of the Trust Fund under the Exchange Act.  If at the beginning of any fiscal year for the Trust Fund after the filing of a Form 15 Suspension Notification, the number of holders of record of the Certificates exceeds the number set forth in Section 15(d) of the Exchange Act or the regulations promulgated pursuant thereto which would cause the Trust Fund to again become subject to the reporting requirements of the Exchange Act, the Trustee shall recommence preparing and filing reports
on Forms 10-K, 10-D and 8-K as required pursuant to this Section 8.17 and each of the Master Servicer, the Special Servicer and the Trustee and any other Person specified herein shall again be subject to the delivery and notice requirements set forth herein regarding the 


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Depositor’s compliance with Exchange Act reporting requirements; provided that if the Trustee re-commences the preparing and filing of Exchange Act reports, it may, as soon as permitted by the Exchange Act, file another Form 15 Suspension Notification.


                    (n)               Sarbanes-Oxley Certification.  Each Form 10-K shall include a Sarbanes-Oxley Certification in the form attached as Exhibit O required to be included therewith pursuant to the Sarbanes-Oxley Act.  The Trustee shall provide to the Person who signs the Sarbanes-Oxley Certification (the “Certifying Person”) a certification (in the form attached hereto as Exhibit P) for the benefit of the Depositor and its officers, directors and Affiliates (provided, however, the Trustee shall not undertake an analysis of the accountant’s report attached as an exhibit to the Form 10-K).  The Master Servicer and the Special Servicer shall, and the Master Servicer and the Special Servicer shall cause
each Servicing Participant with which it has entered into a servicing relationship with respect to the Mortgage Loans to, provide to the Certifying Person a certification in the form attached hereto as Exhibit Q-1 and Exhibit Q-2, as applicable, on which the Certifying Person, the entity for which the Certifying Person acts as an officer (if the Certifying Person is an individual), and such entity’s officers, directors and Affiliates (collectively with the Certifying Person, “Certification Parties”) can reasonably rely.  In addition, in the event that the Peter Cooper Village & Stuyvesant Town Future Pari Passu Companion Loan, if advanced, is deposited into a commercial mortgage securitization, the Reporting Party shall, upon 30 days prior written notice, provide to the Person who signs the Sarbanes-Oxley Certification with respect to the other related securitization, a Performance Certification (which shall address the matters contained in the
Performance Certification, but solely with respect to the Pari Passu Companion Loan) on which such Person, the entity for which the Person acts as an officer (if the Person is an individual), and such entity’s officers, directors and Affiliates can reasonably rely.  The senior officer in charge of the Depositor shall serve as the Certifying Person on behalf of the Trust Fund.  In addition, each Reporting Party shall execute a reasonable reliance certificate to enable the Certification Parties to rely upon each (i) annual compliance statement provided pursuant to Section 3.13(a), (ii) annual report on assessment of compliance with servicing criteria provided pursuant to Section 3.13(b) and (iii) accountant’s report provided pursuant to Section 3.14, and shall include a certification that each such annual compliance statement or report discloses any material instances of non-compliance described to the registered public accountants of such Reporting
Party to enable such accountants to render the certificates provided for in Section 3.14.  In the event any Reporting Party is terminated or resigns pursuant to the terms of this Agreement, or any applicable Sub-Servicing Agreement or primary servicing agreement, as the case may be, such Reporting Party shall provide a certification to the Certifying Person pursuant to this Section 8.17(n) with respect to the period of time it was subject to this Agreement or the applicable Sub-Servicing Agreement or primary servicing agreement, as the case may be.


                    With respect to any notice required to be delivered by the Trustee to the Depositor pursuant to this Section 8.17, the Trustee may deliver such notice, notwithstanding any contrary provision in Section 11.05, via facsimile to (704) 715-0066, via email to charles.culbreth@wachovia.com and royer.culp@wachovia.com or via telephone by calling (704) 383-7721.  With respect to any notice required to be delivered by the Trustee to the Special Servicer pursuant to this Section 8.17, the Trustee may deliver such notice, notwithstanding any contrary provision in Section 11.05, via facsimile to Randy Wolpert at (305) 695-5601, Thomas Nealon, Esq. at (305) 695-5601 and Javier Benedit at (305) 695-5199, via email to rwolpert@lnrproperty.com, tnealon@lnrproperty.com and jbenedit@lnrproperty.com or via telephone by calling (305)
695-5600.


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                    (o)               Amendments.  Sections 3.13, 3.14 and 8.17 may be amended by the written consent of the parties hereto pursuant to Section 11.01 for purposes of complying with Regulation AB and/or to conform to standards developed within the commercial mortgage-backed securities market and the Sarbanes-Oxley Act or for purposes of designating the Certifying Person without any Opinions of Counsel, Officer’s Certificates, Rating Agency confirmations or the consent of any Certificateholder, notwithstanding anything to the contrary contained in this Agreement; provided that the reports and certificates required to be prepared pursuant to Sections 3.13 and 3.14 shall not be eliminated.


          Section 8.18          Maintenance of Mortgage File.


                    Except for the release of items in the Mortgage File contemplated by this Agreement, including, without limitation, as necessary for the enforcement of the holder’s rights and remedies under the related Mortgage Loan, the Trustee covenants and agrees that it shall maintain each Mortgage File in the State of Minnesota, and that it shall not move any Mortgage File outside the State of Minnesota, other than as specifically provided for in this Agreement, unless it shall first obtain and provide, at the expense of the Trustee, an Opinion of Counsel to the Depositor and the Rating Agencies to the effect that the Trustee’s first priority interest in the Mortgage Notes has been duly and fully perfected under the applicable laws and regulations of such other jurisdiction.


ARTICLE IX


TERMINATION


          Section 9.01          Termination Upon Repurchase or Liquidation of All Mortgage Loans.


                    Subject to Section 9.02, the Trust Fund and the respective obligations and responsibilities under this Agreement of the Depositor, the Master Servicer, the Special Servicer and the Trustee (other than the obligations of the Trustee on behalf of the Trust Fund to provide for and make payments to Certificateholders as hereafter set forth) shall terminate upon payment (or provision for payment) (i) to the Certificateholders of all amounts held by or on behalf of the Trustee and required hereunder to be so paid on the Distribution Date following the earlier to occur of (A) the purchase by the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder of all Mortgage Loans, the REO Loans related to the 2007-C30 Serviced Mortgage Loans, the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan and the GECMC 2007-C1
Serviced Mortgage Loan, if any, and each REO Property remaining in REMIC I at a price equal to (1) the aggregate Purchase Price of all the Mortgage Loans included in REMIC I, plus (2) the appraised value of the Trust Fund’s interest in each REO Property (other than the Trust Fund’s beneficial interest in any REO Property related to the Non-Serviced Mortgage Loans), if any, included in REMIC I, such appraisal to be conducted by an Independent Appraiser selected by the Master Servicer and approved by the Trustee plus (3) with respect to any REO Property related to the 2007-C30 Serviced Mortgage Loans, the Morgan Stanley 2007-IQ14 Serviced Mortgage Loan and the GECMC 2007-C1 Serviced Mortgage Loan, 


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as applicable, the appraised value of such REO Property (based on an appraisal conducted in accordance with the 2007-C30 Pooling and Servicing Agreement, the Morgan Stanley 2007-IQ14 Pooling and Servicing Agreement or the GECMC 2007-C1 Pooling and Servicing Agreement, as the case may be, of the Mortgaged Property owned by the 2007-C30 Trustee, the Morgan Stanley 2007-IQ14 Trustee or the GECMC 2007-C1 Trustee, as the case may be, on behalf of the owners thereof), based on the outstanding principal balances of the notes constituting the Five Times Square Whole Loan, the Beacon D.C. & Seattle Pool Whole Loan, the 666 Fifth Avenue Whole Loan or the Peter Cooper Village & Stuyvesant Town Whole Loan, as applicable, minus (4) if the purchaser is the Master Servicer, the aggregate amount of unreimbursed Advances made by the Master Servicer, together with any interest accrued and payable to the Master Servicer in respect of unreimbursed Advances in
accordance with Sections 3.03(d) and 4.03(d) and any unpaid Master Servicing Fees remaining outstanding (which items shall be deemed to have been paid or reimbursed to the Master Servicer in connection with such purchase), and (B) the final payment or other liquidation (or any advance with respect thereto) of the last Mortgage Loan or REO Property remaining in REMIC I, and (ii) to the Trustee, the Master Servicer, the Special Servicer and the officers, directors, employees and agents of each of them of all amounts which may have become due and owing to any of them hereunder; provided, however, that in no event shall the Trust Fund created hereby continue beyond the expiration of 21 years from the death of the last survivor of the descendants of Joseph P. Kennedy, the late ambassador of the United States to the Court of St. James, living on the date hereof.


                    Subject in each case to the terms of the related Intercreditor Agreement, the obligations and responsibilities under this Agreement of the Depositor, the Master Servicer, the Special Servicer, the Trustee, and the Companion Paying Agent shall terminate with respect to any Companion Loan to the extent (i) its related Co-Lender Loan has been paid in full or is no longer part of the Trust Fund and (ii) no amounts payable by the related Companion Holder to or for the benefit of the Trust Fund or any party hereto in accordance with the related Intercreditor Agreement remain due and owing.


                    The Special Servicer, the Majority Subordinate Certificateholder or the Master Servicer may at its option elect to purchase all of the Mortgage Loans and the Trust Fund’s interest in each REO Property remaining in REMIC I as contemplated by clause (i) of the preceding paragraph by giving written notice to the other parties hereto no later than 60 days prior to the anticipated date of purchase; provided, however, that (i) the aggregate Stated Principal Balance of the Mortgage Pool at the time of such election is less than 1.0% of the aggregate Cut-Off Date Balances of the Mortgage Loans, and (ii) the Master Servicer shall not have the right to effect such a purchase if, within 30 days following the Master Servicer’s delivery of a notice of election pursuant to this paragraph, the Special Servicer or


the Majority Subordinate Certificateholder shall give notice of its election to purchase all of the Mortgage Loans and each REO Property remaining in REMIC I and shall thereafter effect such purchase in accordance with the terms hereof.  The Master Servicer or the Majority Subordinate Certificateholder shall not have the right to effect such a purchase if, within 30 days following the Special Servicer’s delivery of a notice of election pursuant to this paragraph, the Special Servicer shall give notice of its election to purchase all of the Mortgage Loans and the Trust Fund’s interest in each REO Property remaining in REMIC I and shall thereafter effect such purchase in accordance with the terms hereof.  If the Trust Fund is to be terminated in connection 


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with the Master Servicer’s, the Special Servicer’s or the Majority Subordinate Certificateholder’s purchase of all of the Mortgage Loans and the Trust Fund’s interest in each REO Property remaining in REMIC I, the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder, as applicable, shall deliver to the Paying Agent for deposit in the Distribution Account not later than the P&I Advance Date relating to the Distribution Date on which the final distribution on the Certificates is to occur an amount in immediately available funds equal to the above-described purchase price.  In addition, the Master Servicer shall transfer to the Distribution Account all amounts required to be transferred thereto on such P&I Advance Date from the Certificate Account pursuant to the first paragraph of Section 3.04(b), together with any other amounts on deposit in the Certificate Account that would otherwise be
held for future distribution.  Upon confirmation that such final deposit has been made, the Trustee shall release or cause to be released to the Master Servicer, the Special Servicer, the Majority Subordinate Certificateholder, as applicable, the Mortgage Files for the remaining Mortgage Loans and shall execute all assignments, endorsements and other instruments furnished to it by the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder, as applicable, as shall be necessary to effectuate the transfer of the Mortgage Loans and REO Properties to the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder (or their respective designees), and, in the case of a Loan Pair, to the related Companion Holder, as applicable.  Any transfer of Mortgage Loans to the Depositor pursuant to this paragraph shall be on a servicing-released basis.


                    Notice of any termination shall be given promptly by the Trustee by letter to the Certificateholders and the Swap Counterparty mailed (a) if such notice is given in connection with the Master Servicer’s, the Special Servicer’s or the Majority Subordinate Certificateholder’s purchase of the Mortgage Loans and the Trust Fund’s interest in each REO Property (or beneficial interest in an REO Property related to a Non-Serviced Mortgage Loans) remaining in REMIC I, not earlier than the 15th day and not later than the 25th day of the month next preceding the month of the final distribution on the Certificates or (b) otherwise during the month of such final distribution on or before the Determination Date in such month, in each case specifying (i) the Distribution Date upon which the Trust Fund will terminate and
final payment of the Certificates will be made, (ii) the amount of any such final payment and (iii) that the Record Date otherwise applicable to such Distribution Date is not applicable, payments being made only upon presentation and surrender of the Certificates at the offices of the Certificate Registrar or such other location therein designated.  The Trustee shall give such notice to the Master Servicer, the Special Servicer and the Depositor at the time such notice is given to Certificateholders.


                    Upon presentation and surrender of the Certificates by the Certificateholders on the final Distribution Date, the Paying Agent shall distribute to each Certificateholder so presenting and surrendering its Certificates such Certificateholder’s Percentage Interest of that portion of the amounts then on deposit in the Distribution Account that are allocable to payments on the Class of Certificates so presented and surrendered.  Amounts on deposit in the Distribution Account (or, in the case of the Class A-5FL Certificates, amounts then on deposit in the Floating Rate Account, as applicable, after payment of the Net Swap Payment to the Swap Counterparty as specified in Section 3.30(c)) as of the final Distribution Date, exclusive of any portion thereof that would be payable to any Person in accordance with clauses (ii) through (vii)


of Section 3.05(b), including any portion thereof that represents Prepayment Premiums and Yield 


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Maintenance Charges, shall be (i) deemed distributed in respect of the REMIC I Regular Interests and distributed to the Class R-I Certificates in accordance with Section 4.01(b), Section 4.01(h), Section 4.01(i) and Section 4.01(l) and (ii) distributed to the REMIC II Certificates and the Class A-5FL Certificates in the order of priority set forth in Section 4.01(a), Section 4.01(b), Section 4.01(c), Section 4.01(d), Section 4.01(i), Section 4.01(j) and Section 4.01(l) in each case, to the extent of remaining available funds.


                    On or after the Final Distribution Date, upon presentation and surrender of the Class Certificates, the Paying Agent shall distribute to the Class Z Certificateholders any amount then on deposit in the Additional Interest Account that was paid on a Mortgage Loan.


                    Any funds not distributed to any Holder or Holders of Certificates of such Class on such Distribution Date because of the failure of such Holder or Holders to tender their Certificates shall, on such date, be set aside and held uninvested in trust and credited to the account or accounts of the appropriate non-tendering Holder or Holders.  If any Certificates as to which notice has been given pursuant to this Section 9.01 shall not have been surrendered for cancellation within six months after the time specified in such notice, the Paying Agent shall mail a second notice to the remaining non-tendering Certificateholders to surrender their Certificates for cancellation in order to receive the final distribution with respect thereto.  If within one year after the second notice all such Certificates shall not have been surrendered


for cancellation, the Paying Agent, directly or through an agent, shall take such reasonable steps to contact the remaining non-tendering Certificateholders concerning the surrender of their Certificates as it shall deem appropriate, and shall deal with all such unclaimed amounts in accordance with applicable law.  The costs and expenses of holding such funds in trust and of contacting such Certificateholders following the first anniversary of the delivery of such second notice to the non-tendering Certificateholders shall be paid out of such funds.  No interest shall accrue or be payable to any former Holder on any amount held in trust hereunder.


                    After the Registered Certificates, the Class A-5FL Certificates and the Class A-1A Certificates have been paid in full and the remaining outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) are held by a single Certificateholder, such Certificateholder shall have the right to exchange all of the Certificates held thereby for all of the Mortgage Loans and the Trust Fund’s interest in each REO Property remaining in the Trust Fund by giving written notice to all parties hereto no later than 30 days prior to the anticipated date of exchange.


                    In the event that such Certificateholder shall elect to exchange all of the Certificates held thereby for all of the Mortgage Loans held by REMIC I and the Trust Fund’s interest in each REO Property remaining in REMIC I in accordance with the preceding sentence, such Certificateholder, not later than the date on which the final distribution on the Certificates is to occur, shall deposit in the Certificate Account an amount in immediately available funds equal to all amounts then due and owing to the Master Servicer, the Special Servicer, the Trustee, the Paying Agent, the Certificate Registrar and/or the REMIC Administrator hereunder.  Upon confirmation that such final deposits have been made and following the surrender of all the Certificates held by such Certificateholder on the final Distribution Date, the Custodian, on
behalf of the Trustee, shall release or cause to be released to such Certificateholder the Mortgage Files for the remaining Mortgage Loans, and the Trustee shall execute all assignments, 


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endorsements and other instruments furnished to it by such Certificateholder as shall be necessary to effectuate transfer of the Mortgage Loans and REO Properties remaining in the Trust Fund.  Thereafter, the Trust Fund and the respective obligations and responsibilities under this Agreement of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the REMIC Administrator (other than annual tax returns and maintenance of books and records and the preparation and filing of final tax returns) and the Paying Agent shall terminate.  Such transfers shall be subject to any rights of any Sub-Servicers to primary service (or to perform select servicing functions with respect to) the Mortgage Loans.  For federal income tax purposes, the Certificateholders shall be deemed to have purchased the assets of REMIC I for an amount equal to the unpaid principal balance, plus accrued unpaid interest, of such Mortgage Loan(s) (other than
the defaulted Mortgage Loan(s) or the Trust Fund’s interest in such REO Property in REMIC I, and the fair market value of any defaulted Mortgage Loans in REMIC I or the Trust Fund’s interest in an REO Property in REMIC I, without duplication of amounts deposited pursuant to the fourth preceding sentence of this paragraph, and such amounts shall be deemed to have been paid or distributed in accordance with Section 4.01(a), Section 4.01(b), Section 4.01(h), Section 4.01(i) and Section 4.01(j).


                    In the case of any Loan Pair, references in this Section 9.01 and Section 9.02 to “REO Property” shall include only the Trust Fund’s proportionate interest in such REO Property and not the interest of the Companion Holder(s) therein.


          Section 9.02          Additional Termination Requirements.


                    (a)               If the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholders purchase all of the Mortgage Loans and the Trust Fund’s interest in each REO Property (or beneficial interest in an REO Property related to the Non-Serviced Mortgage Loans) remaining in REMIC I as provided in Section 9.01, the Trust Fund (and, accordingly, either of REMIC I or REMIC II) shall be terminated in accordance with the following additional requirements, unless the Person effecting the purchase obtains at its own expense and delivers to the Trustee and, in the case of the Depositor, to the Trustee and the Master Servicer, an Opinion of Counsel, addressed to the Trustee and the Master Servicer, to the effect that the failure of the
Trust Fund to comply with the requirements of this Section 9.02 will not result in the imposition of taxes on “prohibited transactions” of either of REMIC I or REMIC II as defined in Section 860F of the Code or cause either of REMIC I or REMIC II to fail to qualify as a REMIC at any time that any Certificates are outstanding:


                                      (i)          the Trustee shall specify the first day in the 90-day liquidation period in a statement attached to the final Tax Return for REMIC I and REMIC II pursuant to Treasury Regulations Section 1.860F-1;


                                      (ii)         during such 90-day liquidation period and at or prior to the time of making of the final payment on the Certificates, the Trustee shall sell all of the assets of REMIC I to the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholders, as applicable, for cash; and


                                      (iii)        at
the time of the making of the final payment on the Certificates, the Trustee
shall distribute or credit, or cause to be distributed or credited, to the
Certificateholders in accordance with Section 9.01 all cash on hand (other
than cash retained to meet claims), and REMIC I and REMIC II shall
terminate at that time.


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                    (b)               By their acceptance of Certificates, the Holders thereof hereby authorize the Trustee to specify the 90-day liquidation period for REMIC I and REMIC II, which authorization shall be binding upon all successor Certificateholders.


In the event the Trust Fund is to be terminated while the Swap Contract is still in effect, the Paying Agent shall promptly notify the applicable Swap Counterparty in writing of the date on which the Trust Fund is to be terminated and the notional amount of the applicable Swap Contract will be reduced to zero on such date.  Based on the date of termination, the Paying Agent shall calculate the Net Swap Payment, if any, as specified in Section 3.30, and prior to any final distribution to the Holders of the Class A-5FL Certificates pursuant to Section 9.01, shall pay such Net Swap Payment, if any, to the related Swap Counterparty.  In the event that any fees (including termination fees) will be payable to the Swap Counterparty in connection with such termination, such fees will be payable to the Swap Counterparty solely from amounts remaining in the applicable Floating Rate Account after all distributions, to the Class A-5FL Certificates are made pursuant
to Section 9.01.


ARTICLE X


ADDITIONAL TAX PROVISIONS


          Section 10.01          REMIC Administration.


                    (a)                 The REMIC Administrator shall elect to treat each of REMIC I and REMIC II as a REMIC under the Code and, if necessary, under applicable state law.  Each such election will be made on Form 1066 or other appropriate federal or state Tax Returns for the taxable year ending December 31, 2007, in the case of each of REMIC I and REMIC II.


                    (b)                  The REMIC I Regular Interests are hereby designated as “regular interests” (within the meaning of Section 860G(a)(1) of the Code) in REMIC I.  The Regular Certificates and the Class A-5FL Regular Interest are hereby designated as “regular interests” (within the meaning of Section 860G(a)(1) of the Code) in REMIC II.  The Class R-I Certificates are hereby designated as the single class of “residual interests” (within the meaning of Section 860G(a)(2) of the Code) in REMIC I, and the Class R-II Certificates are hereby designated as the single class of “residual interests” (within the meaning of Section 860G(a)(2) of the Code) in REMIC II.  None
of the Master Servicer, the Special Servicer or the Trustee shall (to the extent within its control) permit the creation of any other “interests” in either of REMIC I or REMIC II (within the meaning of Treasury Regulations Section 1.860D-1(b)(1)).


                    (c)                  The Closing Date is hereby designated as the “startup day” of each of REMIC I and REMIC II within the meaning of Section 860G(a)(9) of the Code.  The “latest possible maturity date” of the REMIC I Regular Interests and the Regular Certificates for purposes of the REMIC Provisions shall be the Rated Final Distribution Date.




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                    (d)                  The
related Plurality Residual Certificateholder as to the applicable taxable year
is hereby designated as the Tax Matters Person of each of REMIC I and
REMIC II, and shall act on behalf of the related REMIC in relation to any
tax matter or controversy and shall represent the related REMIC in any
administrative or judicial proceeding relating to an examination or audit by any
governmental taxing authority; provided that the REMIC Administrator is
hereby irrevocably appointed to act and shall act as agent and attorney-in-fact
for the Tax Matters Person for REMIC I and REMIC II in the performance
of its duties as such.


                    (e)                  Except as otherwise provided in Section 3.17(a) and subsections (h) and (i) below, the REMIC Administrator shall pay out of its own funds any and all routine tax administration expenses of the Trust Fund incurred with respect to either of REMIC I and REMIC II (but not including any professional fees or expenses related to audits or any administrative or judicial proceedings with respect to the Trust Fund that involve the Internal Revenue Service or state tax authorities, which extraordinary expenses shall be payable or reimbursable to the Trustee from the Trust Fund unless otherwise provided in Section 10.01(g) or 10.01(h)).


                    (f)                 Within 30 days after the Closing Date, the REMIC Administrator shall obtain taxpayer identification numbers for REMIC I and REMIC II by preparing and filing Internal Revenue Service Forms SS-4 and shall prepare and file (if not previously prepared and filed) with the Internal Revenue Service Form 8811, “Information Return for Real Estate Mortgage Investment Conduits (REMIC) and Issuers of Collateralized Debt Obligations” for the Trust Fund.  In addition, the REMIC Administrator shall prepare, cause the Trustee to sign and file all of the other Tax Returns in respect of each of REMIC I and REMIC II.  The expenses of preparing and filing such returns shall be borne by the REMIC Administrator without any
right of reimbursement therefor.  The other parties hereto shall provide on a timely basis to the REMIC Administrator or its designee such information with respect to REMIC I and REMIC II as is in its possession and reasonably requested by the REMIC Administrator to enable it to perform its obligations under this Article.  Without limiting the generality of the foregoing, the Depositor, within ten days following the REMIC Administrator’s request therefor, shall provide in writing to the REMIC Administrator such information as is reasonably requested by the REMIC Administrator for tax purposes, as to the valuations and issue prices of the Certificates, and the REMIC Administrator’s duty to perform its reporting and other tax compliance obligations under this Article X shall be subject to the condition that it receives from the Depositor such information possessed by the Depositor that is necessary to permit the REMIC Administrator to perform such obligations.


                    (g)                  The REMIC Administrator shall perform on behalf of each of REMIC I and REMIC II all reporting and other tax compliance duties that are the responsibility of each such REMIC under the Code, the REMIC Provisions or other compliance guidance issued by the Internal Revenue Service or, with respect to State and Local Taxes, any state or local taxing authority.  Included among such duties, the REMIC Administrator shall provide to:  (i) any Transferor of a Residual Certificate or agent of a Non-Permitted Transferee, such information as is necessary for the application of any tax relating to the transfer of a Residual Certificate to any Person who is not a Permitted Transferee; (ii) the Certificateholders, such
information or reports as are required by the Code or the REMIC Provisions, including, without limitation, reports relating to interest, original issue discount and market discount or premium (using the Prepayment Assumption as required hereunder); and (iii) the Internal Revenue Service, the name, title, address and telephone number of the Person who will serve as the representative of each of REMIC I and REMIC II.


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                    (h)                  The REMIC Administrator shall perform its duties hereunder so as to maintain the status of each of REMIC I and REMIC II as a REMIC under the REMIC Provisions (and the Trustee, the Master Servicer and the Special Servicer shall assist the REMIC Administrator to the extent reasonably requested by the REMIC Administrator and to the extent of information within the Trustee’s, the Master Servicer’s or the Special Servicer’s possession or control).  None of the REMIC Administrator, Master Servicer, the Special Servicer, or the Trustee shall knowingly take (or cause either of REMIC I or REMIC II to take) any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if
taken or not taken, as the case may be, could (i) endanger the status of either of REMIC I or REMIC II as a REMIC, or (ii) except as provided in Section 3.17(a), result in the imposition of a tax upon either of REMIC I or REMIC II (including, but not limited to, the tax on prohibited transactions as defined in Section 860F(a)(2) of the Code or the tax on contributions to a REMIC set forth in Section 860G(d) of the Code (any such endangerment or imposition or, except as provided in Section 3.17(a), imposition of a tax, an “Adverse REMIC Event”)), unless the REMIC Administrator has obtained or received an Opinion of Counsel (at the expense of the party requesting such action or at the expense of the Trust Fund if the REMIC Administrator seeks to take such action or to refrain from acting for the benefit of the Certificateholders) to the effect that the contemplated action will not result in an Adverse REMIC Event.  The REMIC
Administrator shall not take any action or fail to take any action (whether or not authorized hereunder) as to which the Master Servicer or the Special Servicer has advised it in writing that either the Master Servicer or the Special Servicer has received or obtained an Opinion of Counsel to the effect that an Adverse REMIC Event could occur with respect to such action.  In addition, prior to taking any action with respect to either of REMIC I or REMIC II, or causing either of REMIC I or REMIC II to take any action that is not expressly permitted under the terms of this Agreement, the Master Servicer and the Special Servicer shall consult with the REMIC Administrator or its designee, in writing, with respect to whether such action could cause an Adverse REMIC Event to occur.  Neither the Master Servicer nor the Special Servicer shall take any such action or cause either of REMIC I or REMIC II to take any such action as to which the REMIC Administrator has
advised it in writing that an Adverse REMIC Event could occur, and neither the Master Servicer nor the Special Servicer shall have any liability hereunder for any action taken by it in accordance with the written instructions of the REMIC Administrator.  The REMIC Administrator may consult with counsel to make such written advice, and the cost of same shall be borne by the party seeking to take the action not expressly permitted by this Agreement, but in no event at the cost or expense of the Trust Fund, the Trustee or the REMIC Administrator.  At all times as may be required by the Code, the REMIC Administrator (to the extent it is within its control) shall take all necessary actions within the scope of its responsibilities as more specifically set forth in this Agreement such that it does not cause substantially all of the assets of each of REMIC I and REMIC II to fail to consist of “qualified mortgages” as defined in Section 860G(a)(3) of the Code and
“permitted investments” as defined in Section 860G(a)(5) of the Code.


                    (i)                  If any tax is imposed on either of REMIC I or REMIC II, including, without limitation, “prohibited transactions” taxes as defined in Section 860F(a)(2) of the Code, any tax on “net income from foreclosure property” as defined in Section 860G(c) of the Code,


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any taxes on contributions to either of REMIC I or REMIC II after the Startup Day pursuant to Section 860G(d) of the Code, and any other tax imposed by the Code or any applicable provisions of State or Local Tax laws (other than any tax permitted to be incurred by the Special Servicer pursuant to Section 3.17(a)), such tax, together with all incidental costs and expenses (including, without limitation, penalties and reasonable attorneys’ fees), shall be charged to and paid by:  (i) the REMIC Administrator, if such tax arises out of or results from a breach by the REMIC Administrator of any of its obligations under this Article X; provided that no liability shall be imposed upon the REMIC Administrator under this clause if another party has responsibility for payment of such tax under clauses (iii) or (v) of this Section; (ii) the Special Servicer, if such tax arises out of or results from a breach by the
Special Servicer of any of its obligations under Article III or this Article X; (iii) the Master Servicer, if such tax arises out of or results from a breach by the Master Servicer of any of its obligations under Article III or this Article X; (iv) the Trustee if such tax arises out of or results from a breach by the Trustee of any of its respective obligations under Article IV, Article VIII or this Article X; (v) the Mortgage Loan Seller, if such tax was imposed due to the fact that any of the Mortgage Loans did not, at the time of their transfer to REMIC I, as applicable, constitute a “qualified mortgage” as defined in Section 860G(a)(3) of the Code; or (vi) the Trust Fund, excluding the portion thereof constituting the Grantor Trusts, in all other instances.  Any tax permitted to be incurred by the Special Servicer pursuant to Section 3.17(a) shall be charged to and paid by the Trust Fund.  Any such amounts payable by the Trust Fund shall be
paid by the Paying Agent upon the written direction of the REMIC Administrator out of amounts on deposit in the Distribution Account in reduction of the Available Distribution Amount pursuant to Section 3.05(b).


                    (j)                  The REMIC Administrator shall, for federal income tax purposes, maintain books and records with respect to REMIC I and REMIC II on a calendar year and on an accrual basis.


                    (k)                  Following the Startup Day, none of the Trustee, the Master Servicer or the Special Servicer shall accept any contributions of assets to either of REMIC I or REMIC II unless it shall have received an Opinion of Counsel (at the expense of the party seeking to cause such contribution and in no event at the expense of the Trust Fund or the Trustee) to the effect that the inclusion of such assets in such REMIC will not cause:  (i) such REMIC to fail to qualify as a REMIC at any time that any Certificates are outstanding; or (ii) the imposition of any tax on such REMIC under the REMIC Provisions or other applicable provisions of federal, state and local law or ordinances.


                    (l)                  None of the Trustee, the Master Servicer or the Special Servicer shall consent to or, to the extent it is within the control of such Person, permit:  (i) the sale or disposition of any of the Mortgage Loans (except in connection with (A) the default or foreclosure of a Mortgage Loan, including, but not limited to, the sale or other disposition of a Mortgaged Property acquired by deed in lieu of foreclosure, (B) the bankruptcy of either of REMIC I or REMIC II, (C) the termination of either of REMIC I and REMIC II pursuant to Article IX of this Agreement, or (D) a purchase of Mortgage Loans pursuant to or as contemplated by Article II or III of this Agreement); (ii) the sale or disposition
of any investments in the Servicing Accounts, the Interest Reserve Accounts, the Certificate Account, the Distribution Account, the Floating Rate Account, the Companion Distribution Account, the Gain-on-Sale Reserve Account or the REO Account for gain; or (iii) the acquisition of any assets


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on behalf of either of REMIC I or REMIC II (other than (1) a Mortgaged Property acquired through foreclosure, deed in lieu of foreclosure or otherwise in respect of a Defaulted Mortgage Loan, (2) a Qualified Substitute Mortgage Loan pursuant to Article II hereof and (3) Permitted Investments acquired in connection with the investment of funds in the Servicing Accounts, the Interest Reserve Accounts, the Interest Shortfall Account, the Certificate Account, the Distribution Account, the Floating Rate Account, the Companion Distribution Account, the Gain-on-Sale Reserve Account or the REO Account); in any event unless it has received an Opinion of Counsel (at the expense of the party seeking to cause such sale, disposition, or acquisition but in no event at the expense of the Trust Fund or the Trustee) to the effect that such sale, disposition, or acquisition will not cause:  (x) either of REMIC I or REMIC II to fail to qualify as a
REMIC at any time that any Certificates are outstanding; or (y) the imposition of any tax on either of REMIC I or REMIC II under the REMIC Provisions or other applicable provisions of federal, state and local law or ordinances.


                    (m)                Except as permitted by Section 3.17(a), none of the Trustee, the Master Servicer and the Special Servicer shall enter into any arrangement by which either of REMIC I or REMIC II will receive a fee or other compensation for services nor permit either of REMIC I or REMIC II to receive any income from assets other than “qualified mortgages” as defined in Section 860G(a)(3) of the Code or “permitted investments” as defined in Section 860G(a)(5) of the Code.


          Section 10.02        Administration of the Additional Interest Grantor Trust and the Class A-5FL Grantor Trust.


                    (a)                The REMIC Administrator shall treat the Additional Interest Grantor Trust, for tax return preparation purposes, as a grantor trust under the Code and shall treat the Additional Interest, the Additional Interest Account and amounts held from time to time in the Additional Interest Account that represent Additional Interest as separate assets of the Additional Interest Grantor Trust, and not any of REMIC I, REMIC II or the Class A-5FL Grantor Trust or  as permitted by Treasury Regulations Section 1.860G-2(i)(1).  The Class Z Certificates are hereby designated as representing an undivided, beneficial interest in Additional Interest payable on the Mortgage Loans and proceeds thereof in the Additional Interest
Account.


                    (b)                The REMIC Administrator shall treat the Class A-5FL Grantor Trust, for tax return preparation purposes, as a grantor trust under the Code and shall treat the Class A-5FL Regular Interest, the Swap Contract and the Floating Rate Account and amounts held from time to time in the Floating Rate Account as separate assets of the A-5FL Grantor Trust, and not any of the REMIC I, REMIC II or the Additional Interest Grantor Trust, as permitted by Treasury Regulations Section 1.860G-2(i)(1).  The Class A-5FL Certificates are hereby designated as representing undivided, beneficial interests in the Class A-5FL Grantor Trust Assets.


                    (c)                The REMIC Administrator shall pay out of its own funds any and all routine tax administration expenses of the Trust Fund incurred with respect to the Grantor Trusts (but not including any professional fees or expenses related to audits or any administrative or judicial proceedings with respect to the Trust Fund that involve the Internal Revenue Service or state tax authorities which extraordinary expenses shall be payable or reimbursable to the REMIC Administrator from the Trust Fund unless otherwise provided in Section 10.02(f) or 10.02(g)).


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                    (d)                The REMIC Administrator shall prepare, cause the Trustee to sign and file when due all of the Tax Returns in respect of the Grantor Trusts as may be applicable under the Grantor Trust Provisions.  The expenses of preparing and filing such returns shall be borne by the REMIC Administrator without any right of reimbursement therefor.  The other parties hereto shall provide on a timely basis to the REMIC Administrator or its designee such information with respect to the Additional Interest Grantor Trust as is in its possession and reasonably requested by the REMIC Administrator to enable it to perform its obligations under this Section 10.02.  Without limiting the generality of the foregoing, the Depositor, within ten days following


the REMIC Administrator’s request therefor, shall provide in writing to the REMIC Administrator such information as is reasonably requested by the REMIC Administrator for tax purposes and compliance with the administration and reporting duties under the Grantor Trust provisions, and the REMIC Administrator’s duty to perform its reporting and other tax compliance obligations under this Section 10.02 shall be subject to the condition that it receives from the Depositor such information possessed by the Depositor that is necessary to permit the REMIC Administrator to perform such obligations.


                    (e)                 The REMIC Administrator shall furnish or cause to be furnished to the Class Z Certificateholders and the Class A-5FL Certificateholders on the cash or accrual method of accounting, as applicable, such information as to their respective portions of the income and expenses of the Grantor Trusts, at the time and in the manner required under the Code, and shall perform on behalf of the Grantor Trusts all reporting and other tax compliance duties that are required in respect thereof under the Code, the Grantor Trust Provisions or other compliance guidance issued by the Internal Revenue Service or any state or local taxing authority.


                    (f)                 The REMIC Administrator shall perform its duties hereunder so as to maintain the status of and to administer the Grantor Trusts as grantor trusts under the Grantor Trust Provisions (and the Depositor, the Trustee, the Master Servicer and the Special Servicer shall assist the REMIC Administrator to the extent reasonably requested by the REMIC Administrator and to the extent of information within the Depositor’s, the Trustee’s, the Master Servicer’s or the Special Servicer’s possession or control).  None of the REMIC Administrator, the Master Servicer, the Special Servicer or the Trustee shall knowingly take (or cause the Grantor Trusts to take) any action or fail to take (or fail to cause to be taken) any action that,
under the Grantor Trust Provisions, if taken or not taken, as the case may be,
could endanger the status of the Grantor Trusts as grantor trusts under the
Grantor Trust Provisions (any such endangerment of grantor trust status, an
“Adverse Grantor Trust Event”), unless the REMIC Administrator
has obtained or received an Opinion of Counsel (at the expense of the party
requesting such action or at the expense of the Trust Fund if the REMIC
Administrator seeks to take such action or to refrain from taking any action for
the benefit of the Certificateholders) to the effect that the contemplated
action will not result in an Adverse Grantor Trust Event.  None of the
other parties hereto shall take any action or fail to take any action (whether
or not authorized hereunder) as to which the REMIC Administrator has advised it
in writing that the REMIC Administrator has received or obtained an Opinion of
Counsel to the effect that an Adverse Grantor Trust Event could result from such
action or failure to act.  In addition, prior to taking any action with
respect to the Grantor Trusts, or causing the Trust Fund to take any
action,


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that is not expressly permitted under the terms of this Agreement, the Master Servicer and the Special Servicer shall consult with the REMIC Administrator or its designee, in writing, with respect to whether such action could cause an Adverse Grantor Trust Event to occur.  Neither the Master Servicer nor the Special Servicer shall have any liability hereunder for any action taken by it in accordance with the written instructions of the REMIC Administrator.  The REMIC Administrator may consult with counsel to make such written advice, and the cost of same shall be borne by the party seeking to take the action not expressly permitted by this Agreement, but in no event at the cost or expense of the Trust Fund, the REMIC Administrator or the Trustee.  Under no circumstances may the REMIC Administrator vary the assets of the Grantor Trusts so as to take advantage of variations in the market so as to improve the rate of return of Holders of the
Class Z Certificates or the Class A-5FL Certificates.


                    (g)                If any tax is imposed on the Grantor Trusts, such tax, together with all incidental costs and expenses (including, without limitation, penalties and reasonable attorneys’ fees), shall be charged to and paid by:  (i) the REMIC Administrator, if such tax arises out of or results from a breach by the REMIC Administrator of any of its obligations under this Section 10.02; (ii) the Special Servicer, if such tax arises out of or results from a breach by the Special Servicer of any of its obligations under Article III or this Section 10.02; (iii) the Master Servicer, if such tax arises out of or results from a breach by the Master Servicer of any of its obligations under Article III or this Section 10.02;
(iv) the Trustee, if such tax arises out of or results from a breach by the Trustee, of any of its obligations under Article IV, Article VIII or this Section 10.02; (v) the Depositor, if such tax arises out of or results from a breach by the Depositor, of any of its obligations under Article VI or this Section 10.02; or (v) the portion of the Trust Fund constituting the related Grantor Trust in all other instances.


                    (h)                The Trustee shall deliver or cause to be delivered the federal taxpayer identification number of the Class A-5FL Grantor Trust that holds the Swap Contract on an IRS Form W-9 to the Swap Counterparty as soon as possible after the Swap Contract is entered into (but no later than the first payment date under the Swap Contract) and, if requested by the Swap Counterparty (unless not permitted under federal income tax law) an IRS Form W-8IMY.  Each non-exempt Holder of Class A-5FL Certificates shall be obligated pursuant to this Agreement to provide applicable certification to the Trustee (with copies delivered or faxed directly from such Certificateholder to the Swap Counterparty) to enable the Trustee to make payments to the Holders of the Class
A-5FL Certificates under this Agreement, the Trustee may forward any such certification received to the Swap Counterparty if requested.


                    (i)                The Class A-5FL Grantor Trust is a WHFIT that is a NMWHFIT.  The Trustee will report as required under the WHFIT Regulations to the extent such information as is reasonably necessary to enable the Trustee to do so is provided to the Trustee on a timely basis. The Trustee will not be liable for any tax reporting penalties that may arise under the WHFIT Regulations as a result of the Depositor incorrectly determining the status of the grantor trust as a WHFIT.


                    (j)                The
Trustee, in its discretion, will report required WHFIT information using either
the cash or accrual method, except to the extent the WHFIT Regulations
specifically require a different method.  The Trustee will be under no
obligation to determine whether any Certificateholder uses the cash or accrual
method.  The Trustee will make available WHFIT


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 information to
Certificateholders annually.  In addition, the Trustee will not be
responsible or liable for providing subsequently amended, revised or updated
information to any Certificateholder, unless requested by such
Certificateholder.  


                    (k)          The Trustee shall not be liable for failure to meet the reporting requirements of the WHFIT Regulations nor for any penalties thereunder if such failure is due to: (i) the lack of reasonably necessary information being provided to the Trustee, or (ii) incomplete, inaccurate or untimely information being provided to the Trustee.  Each owner of a class of securities representing, in whole or in part, beneficial ownership of an interest in a WHFIT, by acceptance of its interest in such class of securities, will be deemed to have agreed to provide the Trustee with information regarding any sale of such securities, including the price, amount of proceeds and date of sale.  Absent receipt of such information and unless informed otherwise, the Trustee will assume there is no
secondary market trading of the WHFIT interests.


                    (l)                To the extent required by the WHFIT Regulations, the Trustee will use reasonable efforts to publish on an appropriate website the CUSIPs for the certificates that represent ownership of a WHFIT.  The CUSIPs so published will represent the Rule 144A CUSIPs.  The Trustee will not publish any associated Reg S CUSIPs.  The Trustee will make reasonable good faith efforts to keep the website accurate and updated to the extent CUSIPs have been received.  Absent the receipt of a CUSIP, the Trustee will use a reasonable identifier number in lieu of a CUSIP.  The Trustee will not be liable for investor reporting delays that result from the receipt of inaccurate or untimely CUSIP information.


                    (m)               The Trustee shall have no obligation to monitor whether a Grantor Trust has become a WHFIT following the Closing Date, and shall report under the WHFIT Regulations only to the extent it receives written notice of the same.


                    (n)                The Trustee shall be entitled to additional reasonable compensation for changes in reporting required in respect of the WHFIT Regulations that arise as a result of a change in the WHFIT Regulations or a change in interpretation of the WHFIT Regulations by the IRS or the Depositor or its counsel, if such change requires, in the Trustee’s reasonable discretion, a material increase in the Trustee’s reporting obligations in respect of the related Grantor Trust.


ARTICLE XI


MISCELLANEOUS PROVISIONS


          Section 11.01         Amendment.


                    (a)                This Agreement may be amended from time to time by the mutual agreement of the Depositor, the Master Servicer, the Special Servicer and the Trustee, without the consent of any of the Certificateholders or Companion Holders, (i) to cure any ambiguity, (ii) to correct, modify or supplement any provision herein which may be inconsistent with any other provision herein, (iii) to add any other provisions with respect to matters or questions arising hereunder which shall not be inconsistent with the provisions hereof, (iv) to relax or eliminate any requirement hereunder imposed by the Grantor Trust Provisions or the REMIC Provisions if the Grantor Trust Provisions or the REMIC 


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Provisions are amended or clarified such that any such requirement may be relaxed or eliminated, or (v) if such amendment, as evidenced by an Opinion of Counsel (at the expense of the Trust Fund, in the case of any amendment requested by the Master Servicer or Special Servicer that protects or is in furtherance of the interests of the Certificateholders, and otherwise at the expense of the party seeking such amendment) delivered to the Master Servicer, the Special Servicer and the Trustee, is advisable or reasonably necessary to comply with any requirements imposed by the Code or any successor or amendatory statute or any temporary or final regulation, revenue ruling, revenue procedure or other written official announcement or interpretation relating to federal income tax laws or any such proposed action which, if made effective, would apply retroactively to either Grantor Trust or REMIC I or REMIC II created hereunder at least from the effective
date of such amendment, or would be necessary to avoid the occurrence of a prohibited transaction or to reduce the incidence of any tax that would arise from any actions taken with respect to the operation of either such REMIC or to facilitate administration of and reporting duties with respect to either Grantor Trust in accordance with the Grantor Trust provisions to comply with any requirements imposed by the Commission with respect to any adopted temporary or final regulation or other written official announcement or interpretation relating to the securities laws which, would apply retroactively to the Depositor, any Underwriter or the Trust Fund; provided that no such amendment may significantly change the activities of the Trust Fund in a manner that would adversely affect the Trust Fund’s status as a “qualifying special purpose entity” for purposes of FAS 140; provided, further, that such amendment (except any amendment described in clause (v) above)


shall not, as evidenced by an Opinion of Counsel (at the expense of the Trust Fund, in the case of any amendment requested by the Master Servicer or Special Servicer that protects or is in furtherance of the interests of the Certificateholders, and otherwise at the expense of the party seeking such amendment) obtained by or delivered to the Master Servicer, the Special Servicer and the Trustee, adversely affect in any material respect the interests of any Certificateholder or Companion Holder with respect to the Pari Passu Mortgage Loan; provided, further, that the Master Servicer, the Special Servicer and the Trustee shall have first obtained from each Rating Agency written confirmation that such amendment will not result in the qualification, downgrade or withdrawal of the rating on any Class of Certificates.


                    (b)                This Agreement may also be amended from time to time by the agreement of the Depositor, the Master Servicer, the Special Servicer and the Trustee with the consent of the Holders of Certificates entitled to at least 51% of the Voting Rights allocated to the affected Classes for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Agreement or of modifying in any manner the rights of the Holders of Certificates; provided, however, that no such amendment shall (i) reduce in any manner the amount of, or delay the timing of, payments received or advanced on Mortgage Loans that are required to be distributed on any Certificate without the consent of the Holder of such
Certificate, or which are required to be distributed to a Companion Holder, without the consent of such Companion Holder, (ii) as evidenced by an Opinion of Counsel obtained by or delivered to the Master Servicer, the Special Servicer and the Trustee, adversely affect in any material respect the interests of the Holders of any Class of Certificates or the interests of a Companion Holder in a manner other than as described in (i) without the consent of the Holders of all Certificates of such Class or the consent of such Companion Holders, as the case may be, (iii) modify the provisions of this Section 11.01 without the consent of the Holders of all Certificates then outstanding and the consent of all Companion Holders, (iv) modify the 


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provisions of Section 3.20 or the definition of Servicing Standard without the consent of the Holders of Certificates entitled to all of the Voting Rights and the consent of all Companion Holders or (v) modify the specified percentage of Voting Rights which are required to be held by Certificateholders to consent or not to object to any particular action pursuant to any provision of this Agreement without the consent of the Holders of all Certificates then outstanding.  Notwithstanding any other provision of this Agreement (other than the next succeeding sentence), for purposes of the giving or withholding of consents pursuant to this Section 11.01, Certificates registered in the name of the Depositor or any Affiliate of the Depositor shall be entitled to the same Voting Rights with respect to matters described above as they would if any other Person held such Certificates, so long as neither the Depositor nor any of its Affiliates is
performing servicing duties with respect to any of the Mortgage Loans.  Any amendment contemplated by this Section 11.01(b) that adversely affects the status of the Trust Fund as a “qualifying special purpose entity” under FAS 140 shall require the agreement of the Depositor, the Master Servicer, the Special Servicer and the Trustee and the consent of the Holders of Certificates entitled to at least 51% of the Voting Rights (without regard to Certificates held by the Depositor, any Affiliate of the Depositor, any Mortgage Loan Seller or any Affiliate of any Mortgage Loan Seller) and at least 51% of the most subordinate outstanding Class.


                    (c)                Notwithstanding any contrary provision of this Agreement, the Trustee shall not consent to any amendment to this Agreement unless it shall first have obtained or been furnished with an Opinion of Counsel (at the expense of the Trust Fund, in the case of any amendment requested by the Master Servicer or Special Servicer that protects or is in furtherance of the interests of the Certificateholders, and, otherwise, at the expense of the party seeking such amendment) to the effect that (i) such amendment or the exercise of any power granted to the Trustee, the Master Servicer or the Special Servicer in accordance with such amendment will not result in the imposition of a tax on either of REMIC I or REMIC II pursuant to the REMIC
Provisions or on either Grantor Trust or cause either of REMIC I or REMIC II to fail to qualify as a REMIC or either Grantor Trust to fail to qualify as a grantor trust at any time that any Certificates are outstanding and (ii) such amendment complies with the provisions of this Section 11.01.


                    (d)                Promptly after the execution of any such amendment, the Trustee shall send a copy thereof to each Certificateholder and Companion Holder.


                    (e)                It shall not be necessary for the consent of Certificateholders under this Section 11.01 to approve the particular form of any proposed amendment, but it shall be sufficient if such consent shall approve the substance thereof.  The manner of obtaining such consents and of evidencing the authorization of the execution thereof by Certificateholders shall be subject to such reasonable regulations as the Trustee may prescribe.


                    (f)                Each of the Master Servicer, the Special Servicer and the Trustee may but shall not be obligated to enter into any amendment pursuant to this Section that affects its rights, duties and immunities under this Agreement or otherwise.


                    (g)               The
cost of any Opinion of Counsel to be delivered pursuant to
Section 11.01(a), (b) or (c) shall be borne by the Person seeking the
related amendment, except that if the Master Servicer, the Special Servicer or
the Trustee requests any amendment of this


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Agreement that protects or is in furtherance of the rights and interests of Certificateholders, the cost of any Opinion of Counsel required in connection therewith pursuant to Section 11.01(a), (b) or (c) shall be payable out of the Certificate Account or the Distribution Account pursuant to Sections 3.05 and 4.01.  Notwithstanding any contrary provisions of this Agreement, this Agreement may not be amended in a manner that would adversely affect the distributions to the Swap Counterparty or the Class A-5FL Certificates or the rights of the Swap Counterparty under the Swap Contract or the rights of the holders of the Class A-5FL Certificates without the consent of the Swap Counterparty and 66 2/3% of the Holders of the Class A-5FL Certificates.  


                    (h)                Notwithstanding anything in this Agreement to the contrary, the Trustee shall deliver a copy of any proposed amendment to this Agreement to the Swap Counterparty and any amendment to this Agreement that could reasonably materially and adversely affect the Swap Counterparty (whether or not the related Swap Contract is specifically referred to or identified in the proposed amendment) shall be subject to the Swap Counterparty’s prior written consent.


          Section 11.02          Recordation of Agreement; Counterparts.


                    (a)                 To the extent permitted by applicable law, this Agreement is subject to recordation in all appropriate public offices for real property records in all the counties or other comparable jurisdictions in which any or all of the properties subject to the Mortgages are situated, and in any other appropriate public recording office or elsewhere, such recordation to be effected by the Master Servicer at the expense of the Trust Fund, but only upon direction accompanied by an Opinion of Counsel (the cost of which may be paid out of the Certificate Account pursuant to Section 3.05(a)) to the effect that such recordation materially and beneficially affects the interests of the Certificateholders; provided, however, that the Trustee


shall have no obligation or responsibility to determine whether any such recordation of this Agreement is required.


                    (b)                 For the purpose of facilitating the recordation of this Agreement as herein provided and for other purposes, this Agreement may be executed simultaneously in any number of counterparts, each of which counterparts shall be deemed to be an original, and such counterparts shall constitute but one and the same instrument.


          Section 11.03          Limitation on Rights of Certificateholders.


                    (a)                 The death or incapacity of any Certificateholder shall not operate to terminate this Agreement or the Trust Fund, nor entitle such Certificateholder’s legal representatives or heirs to claim an accounting or to take any action or proceeding in any court for a partition or winding up of the Trust Fund, nor otherwise affect the rights, obligations and liabilities of the parties hereto or any of them.


                    (b)                 No Certificateholder shall have any right to vote (except as expressly provided for herein) or in any manner otherwise control the operation and management of the Trust Fund, or the obligations of the parties hereto, nor shall anything herein set forth, or contained in the terms of the Certificates, be construed so as to constitute the Certificateholders from time to time as partners or members of an association; nor shall any Certificateholder be under any liability to any third party by reason of any action taken by the parties to this Agreement pursuant to any provision hereof.


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                    (c)                 No Certificateholder shall have any right by virtue of any provision of this Agreement to institute any suit, action or proceeding in equity or at law upon or under or with respect to this Agreement or any Mortgage Loan, unless, with respect to any suit, action or proceeding upon or under or with respect to this Agreement, such Holder previously shall have given to the Trustee a written notice of default hereunder, and of the continuance thereof, as hereinbefore provided, and unless also (except in the case of a default by the Trustee) the Holders of Certificates entitled to at least 25% of the Voting Rights shall have made written request upon the Trustee to institute such action, suit or proceeding in its own name as Trustee hereunder and
shall have offered to the Trustee such reasonable indemnity as it may require against the costs, expenses and liabilities to be incurred therein or thereby, and the Trustee, for 60 days after its receipt of such notice, request and offer of indemnity, shall have neglected or refused to institute any such action, suit or proceeding.  It is understood and intended, and expressly covenanted by each Certificateholder with every other Certificateholder and the Trustee, that no one or more Holders of Certificates shall have any right in any manner whatsoever by virtue of any provision of this Agreement to affect, disturb or prejudice the rights of the Holders of any other of such Certificates, or to obtain or seek to obtain priority over or preference to any other such Holder, which priority or preference is not otherwise provided for herein, or to enforce any right under this Agreement, except in the manner herein provided and for the equal, ratable and common benefit of all Certificateholders. 
For the protection and enforcement of the provisions of this Section, each and every Certificateholder and the Trustee shall be entitled to such relief as can be given either at law or in equity.


          Section 11.04          Governing Law.


                    This Agreement and the Certificates shall be construed in accordance with the internal laws of the State of New York applicable to agreements made and to be performed in said State, and the obligations, rights and remedies of the parties hereunder shall be determined in accordance with such laws.


          Section 11.05          Notices.


                    Any communications provided for or permitted hereunder shall, unless otherwise expressly provided herein, be in writing by mail, or by facsimile, and shall be deemed to have been duly given when delivered to:  (i) in the case of the Depositor, Wachovia Commercial Mortgage Securities, Inc., 301 South College Street, Charlotte, North Carolina 28288, Attention:  Charles L. Culbreth, H. Royer Culp, Jr., Elizabeth K. Stinson and Lars A. Carlsten, facsimile number:  (704) 383-7639; (ii) in the case of the Master Servicer, Wachovia Bank, National Association, NC 1075, 8739 Research Drive URP4, Charlotte, North Carolina 28262-1075, Attention:  Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2007-C30, facsimile number:  (704) 715-0036; (iii) in the case of the Special
Servicer, LNR Partners, Inc., 1601 Washington Avenue, Suite 700, Miami Beach, Florida 33139, Attention:  Randy Wolpert, facsimile number:  (305) 695-5601 Attention:  Thomas Nealon, Esq., at facsimile number (305) 695-5601, and Attention Javier Benedit, facsimile number (305) 695-5199 (with copies to Bilzin Sumberg Baena Price & Axelrod LLP, 200 South Biscayne Boulevard, 


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Suite 2500, Miami, Florida 33131, Attention Alan J. Kazan, Esq., facsimile number (305) 351-2229); (iv) in the case of the Trustee, Wells Fargo Bank, N.A., 9062 Old Annapolis Road, Columbia, Maryland 21045-1951, Attention:  Corporate Trust Services (CMBS) Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2007-C31, facsimile number: (410) 715-2380; (v) in the case of the Underwriters to each of Wachovia Capital Markets, LLC, 301 South College Street, Charlotte, North Carolina 28288-1075, Attention:  Charles L. Culbreth, H. Royer Culp, Jr., Elizabeth K. Stinson and Lars A. Carlsten, facsimile number:  (704) 715-0066; Barclays Capital Inc., 200 Park Avenue, New York, New York 10166, Attention:  Kristen Rodriguez, facsimile number: (212) 412-7476; Credit Suisse Securities (USA) LLC, 11 Madison Avenue, New York, New York 10010, Attention:  Mr. Jeffery Altabef, facsimile number: (212)
743-5227; Goldman, Sachs & Co., 85 Broad Street, New York, New York 10004, Attention:  Emily Brooks, facsimile number: (212) 902-1691; (vi) in the case of the initial Controlling Class Representative, LNR Securities Holdings, LLC, 1601 Washington Avenue, Suite 700, Miami Beach, Florida 33139, Attention:  Susan Chapman, facsimile number:  (305) 695-5601;


                    (vii)  in the case of the Rating Agencies to each of Moody’s Investors Service, Inc., 99 Church Street, New York, New York 10007, Attention:  Commercial Mortgage Surveillance; and Standard & Poor’s Ratings Services, 55 Water Street, New York, New York 10041-0003, Attention:  CMBS Surveillance Group, facsimile number:  (212) 438-2662;


                    (viii) in the case of the Swap Counterparty, Wachovia Bank, National Association, 301 South College Street, Charlotte, North Carolina 28288-0166, Attention: Spencer Langston, facsimile number: (704) 374-3254 with a copy to Cadwalader, Wickersham & Taft LLP, 227 West Trade Street, Suite 2400, Charlotte, North Carolina 28202, Attention: Francisco Linares, Esq., facsimile number: (704) 348-5200 and (ix) in the case of any Companion Holder, the address(es) for notice to such Companion Holder as set forth in the related Intercreditor Agreement or as to each such Person such other address as may hereafter be furnished by such Person to the parties hereto in writing.  Any communication required or permitted to be delivered to a Certificateholder shall be deemed to have been duly given when mailed first class, postage prepaid, to the
address of
such Holder as shown in the Certificate Register.


          Section 11.06          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 or of the Certificates or the rights of the Holders thereof.


          Section 11.07          Grant of a Security Interest.


                    The Depositor intends that the conveyance of the Depositor’s right, title and interest in and to the Mortgage Loans pursuant to this Agreement shall constitute a sale and not a pledge of security for a loan.  If such conveyance is deemed to be a pledge of security for a loan, however, the Depositor intends that the rights and obligations of the parties to such loan shall be 


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established pursuant to the terms of this Agreement.  The Depositor also intends and agrees that, in such event, the Depositor shall be deemed to have granted to the Trustee (in such capacity) a first priority security interest in the Depositor’s entire right, title and interest in and to the assets constituting the Trust Fund.


          Section 11.08          Streit Act.


                    Any provisions required to be contained in this Agreement by Section 126 of Article 4-A of the New York Real Property Law are hereby incorporated herein, and such provisions shall be in addition to those conferred or imposed by this Agreement; provided, however, that to the extent that such Section 126 shall not have any effect, and if said Section 126 should at any time be repealed or cease to apply to this Agreement or be construed by judicial decision to be inapplicable, said Section 126 shall cease to have any further effect upon the provisions of this Agreement.  In case of a conflict between the provisions of this Agreement and any mandatory provisions of Article 4-A of the New York Real Property Law, such mandatory provisions of said Article 4-A shall prevail; provided that if said Article 4-A
shall not apply to this Agreement, should at any time be repealed or cease to apply to this Agreement or be construed by judicial decision to be inapplicable, such mandatory provisions of such Article 4-A shall cease to have any further effect upon the provisions of this Agreement.


          Section 11.09          Successors and Assigns; Beneficiaries.


                    The provisions of this Agreement shall be binding upon and inure to the benefit of the respective successors and assigns of the parties hereto, and all such provisions shall inure to the benefit of the Certificateholders.  This Agreement may not be amended in any manner that would adversely affect the rights of any third party beneficiary hereof without its consent.  The 2007-C30 Master Servicer, the 2007-C30 Special Servicer, the 2007-C30 Trustee, the Morgan Stanley 2007-IQ14 Master Servicer, the Morgan Stanley 2007-IQ14 Special Servicer, the Morgan Stanley 2007-IQ14 Trustee, the GECMC 2007-C1 Master Servicer, the GECMC 2007-C1 Special Servicer and the GECMC 2007-C1 Trustee shall be third party beneficiaries to this Agreement solely with respect to indemnification, reimbursement of expenses and the reimbursement of nonrecoverable
advances made by such party under the 2007-C30 Pooling and Servicing Agreement, the Morgan Stanley 2007-IQ14 Pooling and Servicing Agreement and the GECMC 2007-C1 Pooling and Servicing Agreement, as applicable, as provided in Section 3.05.  No other person, including, without limitation, any Mortgagor, shall be entitled to any benefit or equitable right, remedy or claim under this Agreement; provided that the Companion Holders and the Swap Counterparty are intended third party beneficiaries hereunder.


          Section 11.10          Article and Section Headings.


                    The article and section headings herein are for convenience of reference only, and shall not limit or otherwise affect the meaning hereof.


          Section 11.11          Notices to Rating Agencies.


                    (a)                 The Trustee shall promptly provide notice to each Rating Agency and the Controlling Class Representative with respect to each of the following of which it has actual knowledge:


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                                         (i)          any material change or amendment to this Agreement;


                                         (ii)         the
occurrence of any Event of Default that has not been cured;


                                         (iii)        the
merger, consolidation, resignation or termination of the Trustee, the Master
Servicer or the Special Servicer;


                                         (iv)         the
repurchase of Mortgage Loans by any of the Mortgage Loan Sellers pursuant to the
applicable Mortgage Loan Purchase Agreement;


                                         (v)          any
change in the location of the Servicing Accounts, the Interest Reserve Accounts,
the Certificate Account, the Floating Rate Account, the Gain-on-Sale Reserve
Account, the Companion Distribution Account or the Distribution
Account;


                                         (vi)         the
final payment to any Class of Certificateholders; and


                                         (vii)        any
sale or disposition of any Mortgage Loan or REO Property.


                    (b)                The
Master Servicer shall promptly provide notice to each Rating Agency with respect
to each of the following of which it has actual knowledge:


                                        (i)           the resignation or removal of the Trustee; and


                                        (ii)          any
change in the location of the Certificate Account.


                    (c)               The Special Servicer shall furnish each Rating Agency and the Controlling Class Representative with respect to a non-performing or Defaulted Mortgage Loan such information as the Rating Agency or Controlling Class Representative shall reasonably request and which the Special Servicer can reasonably provide in accordance with applicable law.


                    (d)               To the extent applicable, each of the Master Servicer, the Special Servicer and the Trustee shall promptly furnish, or cause to be furnished, to each Rating Agency copies of the following items:


                                        (i)           each
of the annual statements as to compliance described in
Section 3.13;


                                        
(ii)         each of the annual
independent public accountants’ servicing reports described in
Section 3.14;


                                        
(iii)        any Officer’s
Certificate delivered to the Trustee pursuant to Section 4.03(c) or 3.08;
and


                                        
(iv)        each of the
reports described in Section 3.12(a) and the statements and reports
described in Sections 3.12(b), 3.12(c) and 3.12(d).


                    (e)                 The
Trustee shall (i) make available to each Rating Agency and the Controlling
Class Representative, upon reasonable notice, the items described in
Section 3.15(a) and (ii) promptly deliver to each Rating Agency and
the Controlling Class Representative a copy of any notices given pursuant to
Section 7.03(a) or Section 7.03(b).


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                    (f)                  Each of the Trustee, the Master Servicer and the Special Servicer shall provide to each Rating Agency such other information with respect to the Mortgage Loans and the Certificates, to the extent such party possesses such information, as such Rating Agency shall reasonably request.


                    (g)                  Notwithstanding any provision herein to the contrary each of the Master Servicer, the Special Servicer or the Trustee shall deliver to any Underwriter any report prepared by such party hereunder upon request.


          Section 11.12          Complete Agreement.


                    This Agreement embodies the complete agreement among the parties and may not be varied or terminated except by a written agreement conforming to the provisions of Section 11.01.  All prior negotiations or representations of the parties are merged into this Agreement and shall have no force or effect unless expressly stated herein.


[SIGNATURE PAGES FOLLOW]


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                    IN WITNESS WHEREOF, the parties hereto have caused their names to be signed hereto by their respective officers thereunto duly authorized, in each case as of the day and year first above written.


	
  
 
  	
  
WACHOVIA   COMMERCIAL MORTGAGE SECURITIES, INC., Depositor
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
  
 
  	
  
Name:
  	
  
H. Royer   Culp, Jr.
  
	
  
 
  	
  
Title:
  	
  
Vice   President
  










                    IN WITNESS WHEREOF, the parties hereto have caused their names to be signed hereto by their respective officers thereunto duly authorized, in each case as of the day and year first above written.

	
  
 
  	
  
WACHOVIA   BANK, NATIONAL ASSOCIATION, Master Servicer
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
  
 
  	
  
Name:
  	
  
Cynthia L.   Schwartz
  
	
   
  	
  
Title:
  	
  
Vice   President
  











                    IN WITNESS WHEREOF, the parties hereto have caused their names to be signed hereto by their respective officers thereunto duly authorized, in each case as of the day and year first above written.

	
  
 
  	
  
LNR   PARTNERS, INC., Special Servicer
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
   
  	
  
Name:
  	
  
 
  
	
  
 
  	
  
Title:
  	
  
 
  











                    IN WITNESS WHEREOF, the parties hereto have caused their names to be signed hereto by their respective officers thereunto duly authorized, in each case as of the day and year first above written.

	
  
 
  	
  
WELLS FARGO   BANK, N.A., Trustee
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
   
  	
  By:
  	
   
  
	
   
  	
   
  	
  


  
	
   
  	
  Name:
  	
   
  
	
   
  	
  Title:
  	
   
  










EXHIBIT A-1


FORM OF CLASS A-1 CERTIFICATE


CLASS A-1 COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
 SERIES 2007-C31


evidencing a beneficial ownership interest in a trust fund (the “Trust Fund”) consisting primarily of a pool of multifamily and commercial mortgage loans (the “Mortgage Loans”), such pool being formed and sold by


WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

	
  
Pass-Through   Rate:  5.140% per annum
  	
  
 
  	
  
Class Principal   Balance of the Class A-1 Certificates as of the Closing Date:   $50,911,000
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Date of Pooling   and Servicing Agreement: as of May 1, 2007
  	
  
 
  	
  
Initial   Certificate Principal Balance of this Class A-1 Certificate as of the   Closing Date: $50,911,000
  
	
   
  	
  
 
  	
  
 
  
	
  
Closing   Date:  May 23, 2007
  	
  
 
  	
  
Aggregate   Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date:   $5,845468,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  
First   Distribution Date:  June 15, 2007
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Master   Servicer:  Wachovia Bank, National   Association
  	
  
 
  	
  
Trustee:   Wells Fargo Bank, N.A.
  
	
  
 
  	
  
 
  	
  
 
  
	
  Special   Servicer:  LNR Partners, Inc.
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Certificate   No.  A-1-1
  	
  
 
  	
  
CUSIP No.
  




UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION (“DTC”), TO THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.


A-1









THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS, INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.  NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.


SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT” (A “REMIC”) AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986 (THE “CODE”).


DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE MADE MONTHLY AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.  IN ADDITION, IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-M, CLASS A-J, CLASS B, CLASS C, CLASS D, CLASS E, CLASS F, CLASS G, CLASS H, CLASS J, CLASS K, CLASS L, CLASS M, CLASS N, CLASS O, CLASS P, CLASS Q, CLASS S, CLASS T, AND CLASS U CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE, THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-5 CERTIFICATES, THE CLASS A-1A CERTIFICATES AND THE CLASS A-5FL REGULAR INTEREST MAY BE REDUCED BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE AGREEMENT REFERRED TO HEREIN.  ACCORDINGLY, THE
OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.


                    This certifies that Cede & Co. is the registered owner of the Percentage Interest evidenced by this Class A-1 Certificate (obtained by dividing the principal amount of this Class A-1 Certificate (its “Certificate Principal Balance”) as of the Closing Date by the aggregate principal amount of all the Class A-1 Certificates (their “Class Principal Balance”) as of the Closing Date) in that certain beneficial ownership interest evidenced by all the Class A-1 Certificates in the Trust Fund created pursuant to a Pooling and Servicing Agreement, dated as specified above (the “Agreement”), among Wachovia Commercial Mortgage Securities, Inc. (herein called the “Depositor”, which term includes any successor entity under the Agreement), Wachovia
Bank, National Association (herein called the “Master Servicer”, which term includes any successor entity under the Agreement), LNR Partners, Inc. (herein called the “Special Servicer”, which term includes any successor entity under the Agreement) and Wells Fargo Bank, N.A. (herein called the “Trustee”, which term includes any successor entity under the Agreement), a summary of certain of the pertinent provisions of which is set forth hereafter.  To the extent not defined herein, the capitalized terms used herein have the respective meanings assigned in the Agreement.  This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound.


A-2









                    Pursuant to the terms of the Agreement, distributions will be made on the fourth Business Day following the related Determination Date (each, a “Distribution Date”).  The Determination Date is the 11th day of each month or, if such 11th day is not a Business Day, the Business Day immediately succeeding, commencing in June 2007 (each, a “Determination Date”).  Distributions will be made commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the last Business Day of the month immediately preceding the month of such distribution (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount required to be distributed to the Holders of
the Class A-1 Certificates on the applicable Distribution Date pursuant to the Agreement.  All distributions made under the Agreement on the Class A-1 Certificates will be made by Wells Fargo Bank, N.A., as paying agent (the “Paying Agent”), by wire transfer of immediately available funds to the account of the Person entitled thereto at a bank or other entity having appropriate facilities therefor, if such Certificateholder shall have provided the Paying Agent with wiring instructions no less than five Business Days prior to the related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions), or otherwise by check mailed to the address of such Certificateholder as it appears in the Certificate Register.  Notwithstanding the foregoing, the final distribution on this Certificate (determined without regard to any possible future reimbursement of any Realized Loss or Additional Trust Fund Expense
previously allocated to this Certificate) will be made in like manner, but only upon presentation and surrender of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to the Holder hereof of such final distribution.  Also notwithstanding the foregoing, any distribution that may be made with respect to this Certificate in reimbursement of any Realized Loss or Additional Trust Fund Expense previously allocated to this Certificate, which reimbursement is to occur after the date on which this Certificate is surrendered as contemplated by the preceding sentence, will be made by check mailed to the address of the Holder that surrenders this Certificate as such address last appears in the Certificate Register or to any such other address of which the Paying Agent is subsequently notified in writing.


                    The Certificates are limited in right of distribution to certain collections and recoveries respecting the Mortgage Loans and REO Loans, all as more specifically set forth herein and in the Agreement.  As provided in the Agreement, withdrawals from the Certificate Account, the Distribution Account and, if established, the REO Account may be made from time to time for purposes other than, and, in certain cases, prior to, distributions to Certificateholders, such purposes including the reimbursement of Advances made, or certain expenses incurred, with respect to the Mortgage Loans and the payment of interest on such Advances and expenses.


                    Interest accrued on this Certificate during an Interest Accrual Period, plus any unpaid interest shortfall with respect to this Certificate for any prior Distribution Date, if any, will be payable on the related Distribution Date to the extent provided in the Agreement.  The “Interest Accrual Period” with respect to any Distribution Date and with respect to the Class A-1 Certificates is the calendar month preceding the month in which such Distribution Date occurs and is assumed to consist of 30 days.


A-3









                    Any distribution to the Holder of this Certificate in reduction of the Certificate Principal Balance hereof is binding on such Holder and all future Holders of this Certificate and any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such distribution is made upon this Certificate.


                    The Class A-1 Certificates are issuable in fully registered form only without coupons in minimum denominations specified in the Agreement.  As provided in the Agreement and subject to certain limitations therein set forth, the Class A-1 Certificates are exchangeable for new Class A-1 Certificates in authorized denominations evidencing the same aggregate Percentage Interest, as requested by the Holder surrendering the same.


                    As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices of the Certificate Registrar, duly endorsed by, or accompanied by a written instrument of transfer in the form satisfactory to the Certificate Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Class A-1 Certificates in authorized denominations evidencing the same aggregate Percentage Interest will be issued to the designated transferee or transferees.


                    No service charge will be imposed for any registration of transfer or exchange of Class A-1 Certificates, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of Class A-1 Certificates.


                    Notwithstanding the foregoing, for so long as this Certificate is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC, transfers of interests in this Certificate shall be made through the book-entry facilities of DTC.


                    The Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent and the Certificate Registrar and any agent of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes whatsoever and none of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent, the Certificate Registrar or any such agent shall be affected by notice to the contrary.


                    The Trust Fund and the obligations created by the Agreement shall terminate upon distribution (or provision for distribution) to the Certificateholders of all amounts held by or on behalf of the Trustee and required to be distributed to them pursuant to the Agreement following the earlier to occur of (i) the final payment (or any advance with respect thereto) or other liquidation of the last Mortgage Loan or REO Property remaining in the Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder at a price determined as provided in the Agreement of all Mortgage Loans and each REO Property remaining in the Trust Fund.  The Agreement permits, but does not require, the Master Servicer, the Special Servicer or the Majority Subordinate
Certificateholder to purchase from the Trust Fund all Mortgage Loans and each REO Property remaining therein.  The exercise of such right will effect early retirement of the Class A-1 Certificates; however, 


A-4









such right to purchase is subject to the aggregate Stated Principal Balance of the Mortgage Pool at the time of purchase being less than 1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date specified on the face hereof.


                    In addition, any exchange by any Certificateholder of all of the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund may be made:  (i) if the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) are held by a single Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-5, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D, Class E, Class F Certificates and Class A-5FL Regular Interest have been paid in full.


                    The Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and obligations of the Depositor, the Master Servicer, the Special Servicer and the Trustee and the rights of the Certificateholders under the Agreement at any time by the Depositor, the Master Servicer, the Special Servicer and the Trustee with the consent of the Holders of Certificates entitled to at least 51% of the Voting Rights allocated to the affected Classes.  Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon this Certificate.  The Agreement also permits the
amendment thereof, in certain limited circumstances, including any amendment necessary to maintain the status of the Trust Fund (or designated portions thereof) as consisting of two separate REMICs and one grantor trust, without the consent of the Holders of any of the Certificates.


                    Unless the certificate of authentication hereon has been executed by the Certificate Registrar, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.


                    The registered Holder hereof, by its acceptance hereof, agrees that it will look solely to the Trust Fund (to the extent of its rights therein) for distributions hereunder.


                    This Certificate shall be construed in accordance with the internal laws of the State of New York applicable to agreements made and to be performed in said State, and the obligations, rights and remedies of the Holder hereof shall be determined in accordance with such laws.


A-5









                    IN WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed.


Dated:  May 23, 2007

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Certificate Registrar
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
   
  	
  
 
  	
  
Authorized   Representative
  




A-6









CERTIFICATE OF AUTHENTICATION


                    This is one of the Class A-1 Certificates referred to in the within-mentioned Agreement.

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Authenticating Agent
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
   
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-7









ASSIGNMENT


                    FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto ________________________________________________________ (please print or typewrite name and address including postal zip code of assignee) the beneficial ownership interest in the Trust Fund evidenced by the within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the registration of transfer of such interest to assignee on the Certificate Register of the Trust Fund.


                    I (we) further direct the Certificate Registrar to issue a new Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and Class to the above named assignee and deliver such Commercial Mortgage Pass-Through Certificate to the following address:  __________________________________________________.


Dated:  _________________________

	
   
  	
  


  
	
  
 
  	
  
Signature by or on behalf of Assignor
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  


  
	
  
 
  	
  
Signature Guaranteed
  




A-8









DISTRIBUTION INSTRUCTIONS


                    The Assignee should include the following for purposes of distribution:


                    Distributions shall, if permitted, be made by wire transfer or otherwise, in immediately available funds, to _____________________________ for the account of _______________.


                    Distributions made by check (such check to be made payable to _____________________) and all applicable statements and notices should be mailed to _________________________.


                    This information is provided by ________________________________, the Assignee named above, or ____________________________________, as its agent.


A-9









EXHIBIT A-2-1


FORM OF CLASS A-2 CERTIFICATE


CLASS A-2 COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
 SERIES 2007-C31


evidencing a beneficial ownership interest in a trust fund (the “Trust Fund”) consisting primarily of a pool of multifamily and commercial mortgage loans (the “Mortgage Loans”), such pool being formed and sold by


WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

	
  
Pass-Through   Rate:  5.421% per annum
  	
  
 
  	
  
Class   Principal Balance of the Class A-2 Certificates as of the Closing Date:   $663,472,000
  
	
  
 
  	
  
 
  	
  
 
  
	
  Date of   Pooling and Servicing Agreement: as of May 1, 2007
  	
  
 
  	
  
Initial   Certificate Principal Balance of this Class A-2 Certificate as of the   Closing Date: $500,000,000
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Closing   Date:  May 23, 2007
  	
  
 
  	
  
Aggregate   Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date:   $5,845,468,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  
First   Distribution Date:  June 15, 2007
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Master   Servicer:  Wachovia Bank, National   Association
  	
  
 
  	
  
Trustee:   Wells Fargo Bank, N.A.
  
	
   
  	
  
 
  	
  
 
  
	
  
Special   Servicer:  LNR Partners, Inc.
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Certificate   No. A-2-1
  	
  
 
  	
  
CUSIP No.
  




UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION (“DTC”), TO THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.


A-2-1-1









THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS, INC., WACHOVIA BANK, NATIONAL ASSOCIATION, OR ANY OF THEIR RESPECTIVE AFFILIATES.  NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.


SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT” (A “REMIC”) AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986 (THE “CODE”).


DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE MADE MONTHLY AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.  IN ADDITION, IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-M, CLASS A-J, CLASS B, CLASS C, CLASS D, CLASS E, CLASS F, CLASS G, CLASS H, CLASS J, CLASS K, CLASS L, CLASS M, CLASS N, CLASS O, CLASS P, CLASS Q, CLASS S, CLASS T AND CLASS U CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE, THE CLASS A-1 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-5 CERTIFICATES, THE CLASS A-1A CERTIFICATES AND THE CLASS A-5FL REGULAR INTEREST MAY BE REDUCED BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE AGREEMENT REFERRED TO HEREIN.  ACCORDINGLY, THE
OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.


                    This certifies that Cede & Co. is the registered owner of the Percentage Interest evidenced by this Class A-2 Certificate (obtained by dividing the principal amount of this Class A-2 Certificate (its “Certificate Principal Balance”) as of the Closing Date by the aggregate principal amount of all the Class A-2 Certificates (their “Class Principal Balance”) as of the Closing Date) in that certain beneficial ownership interest evidenced by all the Class A-2 Certificates in the Trust Fund created pursuant to a Pooling and Servicing Agreement, dated as specified above (the “Agreement”), among Wachovia Commercial Mortgage Securities, Inc. (herein called the “Depositor”, which term includes any successor entity under the Agreement), Wachovia
Bank, National Association (herein called the “Master Servicer”, which term includes any successor entity under the Agreement), LNR Partners, Inc. (herein called the “Special Servicer”, which term includes any successor entity under the Agreement) and Wells Fargo Bank, N.A. (herein called the “Trustee”, which term includes any successor entity under the Agreement), a summary of certain of the pertinent provisions of which is set forth hereafter.  To the extent not defined herein, the capitalized terms used herein have the respective meanings assigned in the Agreement.  This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound.


A-2-1-2









                    Pursuant to the terms of the Agreement, distributions will be made on the fourth Business Day following the related Determination Date (each, a “Distribution Date”).  The Determination Date is the 11th day of each month or, if such 11th day is not a Business Day, the Business Day immediately succeeding, commencing in June 2007 (each, a “Determination Date”).  Distributions will be made commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the last Business Day of the month immediately preceding the month of such distribution (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount required to be distributed to the Holders of
the Class A-2 Certificates on the applicable Distribution Date pursuant to the Agreement.  All distributions made under the Agreement on the Class A-2 Certificates will be made by Wells Fargo Bank, N.A., as paying agent (the “Paying Agent”), by wire transfer of immediately available funds to the account of the Person entitled thereto at a bank or other entity having appropriate facilities therefor, if such Certificateholder shall have provided the Paying Agent with wiring instructions no less than five Business Days prior to the related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions), or otherwise by check mailed to the address of such Certificateholder as it appears in the Certificate Register.  Notwithstanding the foregoing, the final distribution on this Certificate (determined without regard to any possible future reimbursement of any Realized Loss or Additional Trust Fund Expense
previously allocated to this Certificate) will be made in like manner, but only upon presentation and surrender of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to the Holder hereof of such final distribution.  Also notwithstanding the foregoing, any distribution that may be made with respect to this Certificate in reimbursement of any Realized Loss or Additional Trust Fund Expense previously allocated to this Certificate, which reimbursement is to occur after the date on which this Certificate is surrendered as contemplated by the preceding sentence, will be made by check mailed to the address of the Holder that surrenders this Certificate as such address last appears in the Certificate Register or to any such other address of which the Paying Agent is subsequently notified in writing.


                    The Certificates are limited in right of distribution to certain collections and recoveries respecting the Mortgage Loans and REO Loans, all as more specifically set forth herein and in the Agreement.  As provided in the Agreement, withdrawals from the Certificate Account, the Distribution Account and, if established, the REO Account may be made from time to time for purposes other than, and, in certain cases, prior to, distributions to Certificateholders, such purposes including the reimbursement of Advances made, or certain expenses incurred, with respect to the Mortgage Loans and the payment of interest on such Advances and expenses.


                    Interest accrued on this Certificate during an Interest Accrual Period, plus any unpaid interest shortfall with respect to this Certificate for any prior Distribution Date, if any, will be payable on the related Distribution Date to the extent provided in the Agreement.  The “Interest Accrual Period” with respect to any Distribution Date and with respect to the Class A-2 Certificates is the calendar month preceding the month in which such Distribution Date occurs and is assumed to consist of 30 days.


A-2-1-3









                    Any distribution to the Holder of this Certificate in reduction of the Certificate Principal Balance hereof is binding on such Holder and all future Holders of this Certificate and any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such distribution is made upon this Certificate.


                    The Class A-2 Certificates are issuable in fully registered form only without coupons in minimum denominations specified in the Agreement.  As provided in the Agreement and subject to certain limitations therein set forth, the Class A-2 Certificates are exchangeable for new Class A-2 Certificates in authorized denominations evidencing the same aggregate Percentage Interest, as requested by the Holder surrendering the same.


                    As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices of the Certificate Registrar, duly endorsed by, or accompanied by a written instrument of transfer in the form satisfactory to the Certificate Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Class A-2 Certificates in authorized denominations evidencing the same aggregate Percentage Interest will be issued to the designated transferee or transferees.


                    No service charge will be imposed for any registration of transfer or exchange of Class A-2 Certificates, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of Class A-2 Certificates.


                    Notwithstanding the foregoing, for so long as this Certificate is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC, transfers of interests in this Certificate shall be made through the book-entry facilities of DTC.


                    The Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent and the Certificate Registrar and any agent of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes whatsoever and none of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent, the Certificate Registrar or any such agent shall be affected by notice to the contrary.


                    The Trust Fund and the obligations created by the Agreement shall terminate upon distribution (or provision for distribution) to the Certificateholders of all amounts held by or on behalf of the Trustee and required to be distributed to them pursuant to the Agreement following the earlier to occur of (i) the final payment (or any advance with respect thereto) or other liquidation of the last Mortgage Loan or REO Property remaining in the Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder at a price determined as provided in the Agreement of all Mortgage Loans and each REO Property remaining in the Trust Fund.  The Agreement permits, but does not require, the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder to
purchase from the Trust Fund all Mortgage Loans and each REO Property remaining therein.  The exercise of such right will effect early retirement of the Class A-2 Certificates; however, 


A-2-1-4









such right to purchase is subject to the aggregate Stated Principal Balance of the Mortgage Pool at the time of purchase being less than 1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date specified on the face hereof.


                    In addition, any exchange by any Certificateholder of all of the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund may be made:  (i) if the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) are held by a single Certificateholder and (ii)  the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-5, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D, Class E, Class F Certificates and Class A-5FL Regular Interst have been paid in full.


                    The Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and obligations of the Depositor, the Master Servicer, the Special Servicer and the Trustee and the rights of the Certificateholders under the Agreement at any time by the Depositor, the Master Servicer, the Special Servicer and the Trustee with the consent of the Holders of Certificates entitled to at least 51% of the Voting Rights allocated to the affected Classes.  Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon this Certificate.  The Agreement also permits the
amendment thereof, in certain limited circumstances, including any amendment necessary to maintain the status of the Trust Fund (or designated portions thereof) as consisting of two separate REMICs and one grantor trust, without the consent of the Holders of any of the Certificates.


                    Unless the certificate of authentication hereon has been executed by the Certificate Registrar, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.


                    The registered Holder hereof, by its acceptance hereof, agrees that it will look solely to the Trust Fund (to the extent of its rights therein) for distributions hereunder.


                    This Certificate shall be construed in accordance with the internal laws of the State of New York applicable to agreements made and to be performed in said State, and the obligations, rights and remedies of the Holder hereof shall be determined in accordance with such laws.


A-2-1-5









                    IN WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed.


Dated: May 23, 2007

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Certificate Registrar
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
   
  	
  
 
  	
  
Authorized   Representative
  




A-2-1-6









CERTIFICATE OF AUTHENTICATION


                    This is one of the Class A-2 Certificates referred to in the within-mentioned Agreement.

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Authenticating Agent
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
   
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-2-1-7









ASSIGNMENT


                    FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto ________________________________________________________ (please print or typewrite name and address including postal zip code of assignee) the beneficial ownership interest in the Trust Fund evidenced by the within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the registration of transfer of such interest to assignee on the Certificate Register of the Trust Fund.


                    I (we) further direct the Certificate Registrar to issue a new Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and Class to the above named assignee and deliver such Commercial Mortgage Pass-Through Certificate to the following address:  __________________________________________________.


Dated:  _________________________

	
   
  	
  


  
	
  
 
  	
  
Signature by or on behalf of Assignor
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  


  
	
  
 
  	
  
Signature Guaranteed
  




A-2-1-8









DISTRIBUTION INSTRUCTIONS


                    The Assignee should include the following for purposes of distribution:


                    Distributions shall, if permitted, be made by wire transfer or otherwise, in immediately available funds, to _____________________________ for the account of _______________.


                    Distributions made by check (such check to be made payable to _____________________) and all applicable statements and notices should be mailed to _________________________.


                    This information is provided by ________________________________, the Assignee named above, or ____________________________________, as its agent.


A-2-1-9









EXHIBIT A-2-2


FORM OF CLASS A-2 CERTIFICATE


CLASS A-2 COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
 SERIES 2007-C31


evidencing a beneficial ownership interest in a trust fund (the “Trust Fund”) consisting primarily of a pool of multifamily and commercial mortgage loans (the “Mortgage Loans”), such pool being formed and sold by


WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

	
  
Pass-Through   Rate:  5.421% per annum
  	
  
 
  	
  
Class   Principal Balance of the Class A-2 Certificates as of the Closing Date:   $663,472,000
  
	
   
  	
  
 
  	
  
 
  
	
  
Date of   Pooling and Servicing Agreement: as of May 1, 2007
  	
  
 
  	
  
Initial   Certificate Principal Balance of this Class A-2 Certificate as of the   Closing Date: $163,472,000
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Closing   Date:  May 23, 2007
  	
  
 
  	
  
Aggregate   Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date:   $5,845,468,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  
First   Distribution Date:  June 15, 2007
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  Master   Servicer:  Wachovia Bank, National   Association
  	
  
 
  	
  
Trustee:   Wells Fargo Bank, N.A.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Special   Servicer:  LNR Partners, Inc.
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Certificate   No. A-2-2
  	
  
 
  	
  
CUSIP No.
  




UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION (“DTC”), TO THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.


A-2-2-1









THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS, INC., WACHOVIA BANK, NATIONAL ASSOCIATION, OR ANY OF THEIR RESPECTIVE AFFILIATES.  NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.


SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT” (A “REMIC”) AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986 (THE “CODE”).


DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE MADE MONTHLY AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.  IN ADDITION, IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-M, CLASS A-J, CLASS B, CLASS C, CLASS D, CLASS E, CLASS F, CLASS G, CLASS H, CLASS J, CLASS K, CLASS L, CLASS M, CLASS N, CLASS O, CLASS P, CLASS Q, CLASS S, CLASS T AND CLASS U CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE, THE CLASS A-1 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-5 CERTIFICATES, THE CLASS A-1A CERTIFICATES AND THE CLASS A-5FL REGULAR INTEREST MAY BE REDUCED BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE AGREEMENT REFERRED TO HEREIN.  ACCORDINGLY, THE
OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.


                    This certifies that Cede & Co. is the registered owner of the Percentage Interest evidenced by this Class A-2 Certificate (obtained by dividing the principal amount of this Class A-2 Certificate (its “Certificate Principal Balance”) as of the Closing Date by the aggregate principal amount of all the Class A-2 Certificates (their “Class Principal Balance”) as of the Closing Date) in that certain beneficial ownership interest evidenced by all the Class A-2 Certificates in the Trust Fund created pursuant to a Pooling and Servicing Agreement, dated as specified above (the “Agreement”), among Wachovia Commercial Mortgage Securities, Inc. (herein called the “Depositor”, which term includes any successor entity under the Agreement), Wachovia
Bank, National Association (herein called the “Master Servicer”, which term includes any successor entity under the Agreement), LNR Partners, Inc. (herein called the “Special Servicer”, which term includes any successor entity under the Agreement) and Wells Fargo Bank, N.A. (herein called the “Trustee”, which term includes any successor entity under the Agreement), a summary of certain of the pertinent provisions of which is set forth hereafter.  To the extent not defined herein, the capitalized terms used herein have the respective meanings assigned in the Agreement.  This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound.


A-2-2-2









                    Pursuant to the terms of the Agreement, distributions will be made on the fourth Business Day following the related Determination Date (each, a “Distribution Date”).  The Determination Date is the 11th day of each month or, if such 11th day is not a Business Day, the Business Day immediately succeeding, commencing in June 2007 (each, a “Determination Date”).  Distributions will be made commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the last Business Day of the month immediately preceding the month of such distribution (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount required to be distributed to the Holders of
the Class A-2 Certificates on the applicable Distribution Date pursuant to the Agreement.  All distributions made under the Agreement on the Class A-2 Certificates will be made by Wells Fargo Bank, N.A., as paying agent (the “Paying Agent”), by wire transfer of immediately available funds to the account of the Person entitled thereto at a bank or other entity having appropriate facilities therefor, if such Certificateholder shall have provided the Paying Agent with wiring instructions no less than five Business Days prior to the related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions), or otherwise by check mailed to the address of such Certificateholder as it appears in the Certificate Register.  Notwithstanding the foregoing, the final distribution on this Certificate (determined without regard to any possible future reimbursement of any Realized Loss or Additional Trust Fund Expense
previously allocated to this Certificate) will be made in like manner, but only upon presentation and surrender of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to the Holder hereof of such final distribution.  Also notwithstanding the foregoing, any distribution that may be made with respect to this Certificate in reimbursement of any Realized Loss or Additional Trust Fund Expense previously allocated to this Certificate, which reimbursement is to occur after the date on which this Certificate is surrendered as contemplated by the preceding sentence, will be made by check mailed to the address of the Holder that surrenders this Certificate as such address last appears in the Certificate Register or to any such other address of which the Paying Agent is subsequently notified in writing.


                    The Certificates are limited in right of distribution to certain collections and recoveries respecting the Mortgage Loans and REO Loans, all as more specifically set forth herein and in the Agreement.  As provided in the Agreement, withdrawals from the Certificate Account, the Distribution Account and, if established, the REO Account may be made from time to time for purposes other than, and, in certain cases, prior to, distributions to Certificateholders, such purposes including the reimbursement of Advances made, or certain expenses incurred, with respect to the Mortgage Loans and the payment of interest on such Advances and expenses.


                    Interest accrued on this Certificate during an Interest Accrual Period, plus any unpaid interest shortfall with respect to this Certificate for any prior Distribution Date, if any, will be payable on the related Distribution Date to the extent provided in the Agreement.  The “Interest Accrual Period” with respect to any Distribution Date and with respect to the Class A-2 Certificates is the calendar month preceding the month in which such Distribution Date occurs and is assumed to consist of 30 days.


A-2-2-3









                    Any distribution to the Holder of this Certificate in reduction of the Certificate Principal Balance hereof is binding on such Holder and all future Holders of this Certificate and any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such distribution is made upon this Certificate.


                    The Class A-2 Certificates are issuable in fully registered form only without coupons in minimum denominations specified in the Agreement.  As provided in the Agreement and subject to certain limitations therein set forth, the Class A-2 Certificates are exchangeable for new Class A-2 Certificates in authorized denominations evidencing the same aggregate Percentage Interest, as requested by the Holder surrendering the same.


                    As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices of the Certificate Registrar, duly endorsed by, or accompanied by a written instrument of transfer in the form satisfactory to the Certificate Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Class A-2 Certificates in authorized denominations evidencing the same aggregate Percentage Interest will be issued to the designated transferee or transferees.


                    No service charge will be imposed for any registration of transfer or exchange of Class A-2 Certificates, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of Class A-2 Certificates.


                    Notwithstanding the foregoing, for so long as this Certificate is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC, transfers of interests in this Certificate shall be made through the book-entry facilities of DTC.


                    The Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent and the Certificate Registrar and any agent of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes whatsoever and none of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent, the Certificate Registrar or any such agent shall be affected by notice to the contrary.


                    The Trust Fund and the obligations created by the Agreement shall terminate upon distribution (or provision for distribution) to the Certificateholders of all amounts held by or on behalf of the Trustee and required to be distributed to them pursuant to the Agreement following the earlier to occur of (i) the final payment (or any advance with respect thereto) or other liquidation of the last Mortgage Loan or REO Property remaining in the Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder at a price determined as provided in the Agreement of all Mortgage Loans and each REO Property remaining in the Trust Fund.  The Agreement permits, but does not require, the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder to
purchase from the Trust Fund all Mortgage Loans and each REO Property remaining therein.  The exercise of such right will effect early retirement of the Class A-2 Certificates; however, 


A-2-2-4









such right to purchase is subject to the aggregate Stated Principal Balance of the Mortgage Pool at the time of purchase being less than 1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date specified on the face hereof.


                    In addition, any exchange by any Certificateholder of all of the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund may be made:  (i) if the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) are held by a single Certificateholder and (ii)  the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-5, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D, Class E, Class F Certificates and Class A-5FL Regular Interest have been paid in full.


                    The Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and obligations of the Depositor, the Master Servicer, the Special Servicer and the Trustee and the rights of the Certificateholders under the Agreement at any time by the Depositor, the Master Servicer, the Special Servicer and the Trustee with the consent of the Holders of Certificates entitled to at least 51% of the Voting Rights allocated to the affected Classes.  Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon this Certificate.  The Agreement also permits the
amendment thereof, in certain limited circumstances, including any amendment necessary to maintain the status of the Trust Fund (or designated portions thereof) as consisting of two separate REMICs and one grantor trust, without the consent of the Holders of any of the Certificates.


                    Unless the certificate of authentication hereon has been executed by the Certificate Registrar, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.


                    The registered Holder hereof, by its acceptance hereof, agrees that it will look solely to the Trust Fund (to the extent of its rights therein) for distributions hereunder.


                    This Certificate shall be construed in accordance with the internal laws of the State of New York applicable to agreements made and to be performed in said State, and the obligations, rights and remedies of the Holder hereof shall be determined in accordance with such laws.


A-2-2-5









                    IN WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed.


Dated: May 23, 2007

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Certificate Registrar
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
   
  	
  
 
  	
  
Authorized   Representative
  




A-2-2-6









CERTIFICATE OF AUTHENTICATION


                    This is one of the Class A-2 Certificates referred to in the within-mentioned Agreement.

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Authenticating Agent
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
   
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-2-2-7









ASSIGNMENT


                    FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto ________________________________________________________ (please print or typewrite name and address including postal zip code of assignee) the beneficial ownership interest in the Trust Fund evidenced by the within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the registration of transfer of such interest to assignee on the Certificate Register of the Trust Fund.


                    I (we) further direct the Certificate Registrar to issue a new Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and Class to the above named assignee and deliver such Commercial Mortgage Pass-Through Certificate to the following address:  __________________________________________________.


Dated:  _________________________

	
   
  	
  


  
	
  
 
  	
  
Signature by or on behalf of Assignor
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  


  
	
  
 
  	
  
Signature Guaranteed
  




A-2-2-8









DISTRIBUTION INSTRUCTIONS


                    The Assignee should include the following for purposes of distribution:


                    Distributions shall, if permitted, be made by wire transfer or otherwise, in immediately available funds, to _____________________________ for the account of _______________.


                    Distributions made by check (such check to be made payable to _____________________) and all applicable statements and notices should be mailed to _________________________.


                    This information is provided by ________________________________, the Assignee named above, or ____________________________________, as its agent.


A-2-2-9









EXHIBIT A-3


FORM OF CLASS A-3 CERTIFICATE


CLASS A-3 COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
 SERIES 2007-C31


evidencing a beneficial ownership interest in a trust fund (the “Trust Fund”) consisting primarily of a pool of multifamily and commercial mortgage loans (the “Mortgage Loans”), such pool being formed and sold by


WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

	
  
Pass-Through   Rate:  5.483% per annum
  	
  
 
  	
  
Class Principal   Balance of the Class A-3 Certificates as of the Closing Date:   $188,934,000
  
	
   
  	
  
 
  	
  
 
  
	
  
Date of   Pooling and Servicing Agreement: as of May 1, 2007
  	
  
 
  	
  
Initial   Certificate Principal Balance of this Class A-3 Certificate as of the Closing   Date: $188,934,000
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Closing   Date:  May 23, 2007
  	
  
 
  	
  
Aggregate   Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date:   $5,845,468,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  
First   Distribution Date:  June 15, 2007
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  Master   Servicer:  Wachovia Bank, National   Association
  	
  
 
  	
  
Trustee:   Wells Fargo Bank, N.A.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Special   Servicer:  LNR Partners, Inc.
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Certificate   No.  A-3-1
  	
  
 
  	
  
CUSIP No.
  




UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION (“DTC”), TO THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.


A-3-1









THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS, INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.  NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.


SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT” (A “REMIC”) AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986 (THE “CODE”).


DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE MADE MONTHLY AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.  IN ADDITION, IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-M, CLASS A-J, CLASS B, CLASS C, CLASS D, CLASS E, CLASS F, CLASS G, CLASS H, CLASS J, CLASS K, CLASS L, CLASS M, CLASS N, CLASS O, CLASS P, CLASS Q, CLASS S, CLASS T AND CLASS U CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE, THE CLASS A-1 CERTIFICATES, THE CLASS A–2 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-5 CERTIFICATES, THE CLASS A-1A CERTIFICATES AND THE CLASS A-5FL REGULAR INTEREST MAY BE REDUCED BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE AGREEMENT REFERRED TO HEREIN. 
ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.


                    This certifies that Cede & Co. is the registered owner of the Percentage Interest evidenced by this Class A-3 Certificate (obtained by dividing the principal amount of this Class A-3 Certificate (its “Certificate Principal Balance”) as of the Closing Date by the aggregate principal amount of all the Class A-3 Certificates (their “Class Principal Balance”) as of the Closing Date) in that certain beneficial ownership interest evidenced by all the Class A-3 Certificates in the Trust Fund created pursuant to a Pooling and Servicing Agreement, dated as specified above (the “Agreement”), among Wachovia Commercial Mortgage Securities, Inc. (herein called the “Depositor”, which term includes any successor entity under the Agreement), Wachovia
Bank, National Association (herein called the “Master Servicer”, which term includes any successor entity under the Agreement), LNR Partners, Inc. (herein called the “Special Servicer”, which term includes any successor entity under the Agreement) and Wells Fargo Bank, N.A. (herein called the “Trustee”, which term includes any successor entity under the Agreement), a summary of certain of the pertinent provisions of which is set forth hereafter.  To the extent not defined herein, the capitalized terms used herein have the respective meanings assigned in the Agreement.  This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound.


A-3-2









                    Pursuant to the terms of the Agreement, distributions will be made on the fourth Business Day following the related Determination Date (each, a “Distribution Date”).  The Determination Date is the 11th day of each month or, if such 11th day is not a Business Day, the Business Day immediately succeeding, commencing in June 2007 (each, a “Determination Date”).  Distributions will be made commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the last Business Day of the month immediately preceding the month of such distribution (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount required to be distributed to the Holders of
the Class A-3 Certificates on the applicable Distribution Date pursuant to the Agreement.  All distributions made under the Agreement on the Class A-3 Certificates will be made by Wells Fargo Bank, N.A., as paying agent (the “Paying Agent”), by wire transfer of immediately available funds to the account of the Person entitled thereto at a bank or other entity having appropriate facilities therefor, if such Certificateholder shall have provided the Paying Agent with wiring instructions no less than five Business Days prior to the related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions), or otherwise by check mailed to the address of such Certificateholder as it appears in the Certificate Register.  Notwithstanding the foregoing, the final distribution on this Certificate (determined without regard to any possible future reimbursement of any Realized Loss or Additional Trust Fund Expense
previously allocated to this Certificate) will be made in like manner, but only upon presentation and surrender of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to the Holder hereof of such final distribution.  Also notwithstanding the foregoing, any distribution that may be made with respect to this Certificate in reimbursement of any Realized Loss or Additional Trust Fund Expense previously allocated to this Certificate, which reimbursement is to occur after the date on which this Certificate is surrendered as contemplated by the preceding sentence, will be made by check mailed to the address of the Holder that surrenders this Certificate as such address last appears in the Certificate Register or to any such other address of which the Paying Agent is subsequently notified in writing.


                    The Certificates are limited in right of distribution to certain collections and recoveries respecting the Mortgage Loans and REO Loans, all as more specifically set forth herein and in the Agreement.  As provided in the Agreement, withdrawals from the Certificate Account, the Distribution Account and, if established, the REO Account may be made from time to time for purposes other than, and, in certain cases, prior to, distributions to Certificateholders, such purposes including the reimbursement of Advances made, or certain expenses incurred, with respect to the Mortgage Loans and the payment of interest on such Advances and expenses.


                    Interest accrued on this Certificate during an Interest Accrual Period, plus any unpaid interest shortfall with respect to this Certificate for any prior Distribution Date, if any, will be payable on the related Distribution Date to the extent provided in the Agreement.  The “Interest Accrual Period” with respect to any Distribution Date and with respect to the Class A-3 Certificates is the calendar month preceding the month in which such Distribution Date occurs and is assumed to consist of 30 days.


A-3-3









                    Any distribution to the Holder of this Certificate in reduction of the Certificate Principal Balance hereof is binding on such Holder and all future Holders of this Certificate and any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such distribution is made upon this Certificate.


                    The Class A-3 Certificates are issuable in fully registered form only without coupons in minimum denominations specified in the Agreement.  As provided in the Agreement and subject to certain limitations therein set forth, the Class A-3 Certificates are exchangeable for new Class A-3 Certificates in authorized denominations evidencing the same aggregate Percentage Interest, as requested by the Holder surrendering the same.


                    As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices of the Certificate Registrar, duly endorsed by, or accompanied by a written instrument of transfer in the form satisfactory to the Certificate Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Class A-3 Certificates in authorized denominations evidencing the same aggregate Percentage Interest will be issued to the designated transferee or transferees.


                    No service charge will be imposed for any registration of transfer or exchange of Class A-3 Certificates, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of Class A-3 Certificates.


                    Notwithstanding the foregoing, for so long as this Certificate is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC, transfers of interests in this Certificate shall be made through the book-entry facilities of DTC.


                    The Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent and the Certificate Registrar and any agent of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes whatsoever and none of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent, the Certificate Registrar or any such agent shall be affected by notice to the contrary.


                    The Trust Fund and the obligations created by the Agreement shall terminate upon distribution (or provision for distribution) to the Certificateholders of all amounts held by or on behalf of the Trustee and required to be distributed to them pursuant to the Agreement following the earlier to occur of (i) the final payment (or any advance with respect thereto) or other liquidation of the last Mortgage Loan or REO Property remaining in the Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder at a price determined as provided in the Agreement of all Mortgage Loans and each REO Property remaining in the Trust Fund.  The Agreement permits, but does not require, the Master Servicer, the Special Servicer or the Majority Subordinate
Certificateholder to purchase from the Trust Fund all Mortgage Loans and each REO Property remaining therein.  The exercise of such right will effect early retirement of the Class A-3 Certificates; however, 


A-3-4









such right to purchase is subject to the aggregate Stated Principal Balance of the Mortgage Pool at the time of purchase being less than 1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date specified on the face hereof.


                    In addition, any exchange by any Certificateholder of all of the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund may be made:  (i) if the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) are held by a single Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-5, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D, Class E, Class F Certificates and Class A-5FL Regular Interst have been paid in full.


                    The Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and obligations of the Depositor, the Master Servicer, the Special Servicer and the Trustee and the rights of the Certificateholders under the Agreement at any time by the Depositor, the Master Servicer, the Special Servicer and the Trustee with the consent of the Holders of Certificates entitled to at least 51% of the Voting Rights allocated to the affected Classes.  Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon this Certificate.  The Agreement also permits the
amendment thereof, in certain limited circumstances, including any amendment necessary to maintain the status of the Trust Fund (or designated portions thereof) as consisting of two separate REMICs and one grantor trust, without the consent of the Holders of any of the Certificates.


                    Unless the certificate of authentication hereon has been executed by the Certificate Registrar, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.


                    The registered Holder hereof, by its acceptance hereof, agrees that it will look solely to the Trust Fund (to the extent of its rights therein) for distributions hereunder.


                    This Certificate shall be construed in accordance with the internal laws of the State of New York applicable to agreements made and to be performed in said State, and the obligations, rights and remedies of the Holder hereof shall be determined in accordance with such laws.


A-3-5









                    IN WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed.


Dated:  May 23, 2007

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Certificate Registrar
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
   
  	
  
 
  	
  
Authorized   Representative
  




A-3-6









CERTIFICATE OF AUTHENTICATION


                    This is one of the Class A-3 Certificates referred to in the within-mentioned Agreement.

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Authenticating Agent
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
   
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-3-7









ASSIGNMENT


                    FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto ________________________________________________________ (please print or typewrite name and address including postal zip code of assignee) the beneficial ownership interest in the Trust Fund evidenced by the within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the registration of transfer of such interest to assignee on the Certificate Register of the Trust Fund.


                    I (we) further direct the Certificate Registrar to issue a new Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and Class to the above named assignee and deliver such Commercial Mortgage Pass-Through Certificate to the following address:  __________________________________________________.


Dated:  _________________________

	
   
  	
  


  
	
  
 
  	
  
Signature by or on behalf of Assignor
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  


  
	
  
 
  	
  
Signature Guaranteed
  




A-3-8









DISTRIBUTION INSTRUCTIONS


                    The Assignee should include the following for purposes of distribution:


                    Distributions shall, if permitted, be made by wire transfer or otherwise, in immediately available funds, to _____________________________ for the account of _______________.


                    Distributions made by check (such check to be made payable to _____________________) and all applicable statements and notices should be mailed to _________________________.


                    This information is provided by ________________________________, the Assignee named above, or ____________________________________, as its agent.


A-3-9









EXHIBIT A-4


FORM OF CLASS A-PB CERTIFICATE


CLASS A-PB COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
 SERIES 2007-C31


evidencing a beneficial ownership interest in a trust fund (the “Trust Fund”) consisting primarily of a pool of multifamily and commercial mortgage loans (the “Mortgage Loans”), such pool being formed and sold by


WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

	
  
Pass-Through   Rate:  5.450% per annum
  	
  
 
  	
  
Class Principal   Balance of the Class A-PB Certificates as of the Closing Date:   $85,402,000
  
	
   
  	
  
 
  	
  
 
  
	
  
Date of   Pooling and Servicing Agreement: as of May 1, 2007
  	
  
 
  	
  
Initial   Certificate Principal Balance of this Class A-PB Certificate as of the   Closing Date: $85,402,000
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Closing   Date:  May 23, 2007
  	
  
 
  	
  
Aggregate   Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date:   $5,845,468,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  
First   Distribution Date:  June 15, 2007
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  Master   Servicer:  Wachovia Bank, National   Association
  	
  
 
  	
  
Trustee:   Wells Fargo Bank, N.A.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Special   Servicer:  LNR Partners, Inc.
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Certificate   No. A-PB-1
  	
  
 
  	
  
CUSIP No.
  




UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION (“DTC”), TO THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.


A-4-1









THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS, INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.  NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.


SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT” (A “REMIC”) AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986 (THE “CODE”).


DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE MADE MONTHLY AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.  IN ADDITION, IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-M, CLASS A-J, CLASS B, CLASS C, CLASS D, CLASS E, CLASS F, CLASS G, CLASS H, CLASS J, CLASS K, CLASS L, CLASS M, CLASS N, CLASS O, CLASS P, CLASS Q, CLASS S, CLASS T AND CLASS U CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE, THE CLASS A-1 CERTIFICATES, THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-5 CERTIFICATES, THE CLASS A-1A CERTIFICATES AND THE CLASS A-5FL REGULAR INTEREST MAY BE REDUCED BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE AGREEMENT REFERRED TO HEREIN.  ACCORDINGLY, THE

OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.


                    This certifies that Cede & Co. is the registered owner of the Percentage Interest evidenced by this Class A-PB Certificate (obtained by dividing the principal amount of this Class A-PB Certificate (its “Certificate Principal Balance”) as of the Closing Date by the aggregate principal amount of all the Class A-PB Certificates (their “Class Principal Balance”) as of the Closing Date) in that certain beneficial ownership interest evidenced by all the Class A-PB Certificates in the Trust Fund created pursuant to a Pooling and Servicing Agreement, dated as specified above (the “Agreement”), among Wachovia Commercial Mortgage Securities, Inc. (herein called the “Depositor”, which term includes any successor entity under the Agreement),
Wachovia Bank, National Association (herein called the “Master Servicer”, which term includes any successor entity under the Agreement), LNR Partners, Inc. (herein called the “Special Servicer”, which term includes any successor entity under the Agreement) and Wells Fargo Bank, N.A. (herein called the “Trustee”, which term includes any successor entity under the Agreement), a summary of certain of the pertinent provisions of which is set forth hereafter.  To the extent not defined herein, the capitalized terms used herein have the respective meanings assigned in the Agreement.  This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound.


A-4-2









                    Pursuant to the terms of the Agreement, distributions will be made on the fourth Business Day following the related Determination Date (each, a “Distribution Date”).  The Determination Date is the 11th day of each month or, if such 11th day is not a Business Day, the Business Day immediately succeeding, commencing in June 2007 (each, a “Determination Date”).  Distributions will be made commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the last Business Day of the month immediately preceding the month of such distribution (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount required to be distributed to the Holders of
the Class A-PB Certificates on the applicable Distribution Date pursuant to the Agreement.  All distributions made under the Agreement on the Class A-PB Certificates will be made by Wells Fargo Bank, N.A., as paying agent (the “Paying Agent”), by wire transfer of immediately available funds to the account of the Person entitled thereto at a bank or other entity having appropriate facilities therefor, if such Certificateholder shall have provided the Paying Agent with wiring instructions no less than five Business Days prior to the related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions), or otherwise by check mailed to the address of such Certificateholder as it appears in the Certificate Register.  Notwithstanding the foregoing, the final distribution on this Certificate (determined without regard to any possible future reimbursement of any Realized Loss or Additional Trust Fund Expense
previously allocated to this Certificate) will be made in like manner, but only upon presentation and surrender of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to the Holder hereof of such final distribution.  Also notwithstanding the foregoing, any distribution that may be made with respect to this Certificate in reimbursement of any Realized Loss or Additional Trust Fund Expense previously allocated to this Certificate, which reimbursement is to occur after the date on which this Certificate is surrendered as contemplated by the preceding sentence, will be made by check mailed to the address of the Holder that surrenders this Certificate as such address last appears in the Certificate Register or to any such other address of which the Paying Agent is subsequently notified in writing.


                    The Certificates are limited in right of distribution to certain collections and recoveries respecting the Mortgage Loans and REO Loans, all as more specifically set forth herein and in the Agreement.  As provided in the Agreement, withdrawals from the Certificate Account, the Distribution Account and, if established, the REO Account may be made from time to time for purposes other than, and, in certain cases, prior to, distributions to Certificateholders, such purposes including the reimbursement of Advances made, or certain expenses incurred, with respect to the Mortgage Loans and the payment of interest on such Advances and expenses.


                    Interest accrued on this Certificate during an Interest Accrual Period, plus any unpaid interest shortfall with respect to this Certificate for any prior Distribution Date, if any, will be payable on the related Distribution Date to the extent provided in the Agreement.  The “Interest Accrual Period” with respect to any Distribution Date and with respect to the Class A-PB Certificates is the calendar month preceding the month in which such Distribution Date occurs and is assumed to consist of 30 days.


A-4-3









                    Any distribution to the Holder of this Certificate in reduction of the Certificate Principal Balance hereof is binding on such Holder and all future Holders of this Certificate and any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such distribution is made upon this Certificate.


                    The Class A-PB Certificates are issuable in fully registered form only without coupons in minimum denominations specified in the Agreement.  As provided in the Agreement and subject to certain limitations therein set forth, the Class A-PB Certificates are exchangeable for new Class A-PB Certificates in authorized denominations evidencing the same aggregate Percentage Interest, as requested by the Holder surrendering the same.


                    As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices of the Certificate Registrar, duly endorsed by, or accompanied by a written instrument of transfer in the form satisfactory to the Certificate Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Class A-PB Certificates in authorized denominations evidencing the same aggregate Percentage Interest will be issued to the designated transferee or transferees.


                    No service charge will be imposed for any registration of transfer or exchange of Class A-PB Certificates, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of Class A-PB Certificates.


                    Notwithstanding the foregoing, for so long as this Certificate is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC, transfers of interests in this Certificate shall be made through the book-entry facilities of DTC.


                    The Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent and the Certificate Registrar and any agent of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes whatsoever and none of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent, the Certificate Registrar or any such agent shall be affected by notice to the contrary.


                    The Trust Fund and the obligations created by the Agreement shall terminate upon distribution (or provision for distribution) to the Certificateholders of all amounts held by or on behalf of the Trustee and required to be distributed to them pursuant to the Agreement following the earlier to occur of (i) the final payment (or any advance with respect thereto) or other liquidation of the last Mortgage Loan or REO Property remaining in the Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder at a price determined as provided in the Agreement of all Mortgage Loans and each REO Property remaining in the Trust Fund.  The Agreement permits, but does not require, the Master Servicer, the Special Servicer or the Majority Subordinate
Certificateholder to purchase from the Trust Fund all Mortgage Loans and each REO Property remaining therein.  The exercise of such right will effect early retirement of the Class A-PB Certificates; however, 


A-4-4









such right to purchase is subject to the aggregate Stated Principal Balance of the Mortgage Pool at the time of purchase being less than 1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date specified on the face hereof.


                    In addition, any exchange by any Certificateholder of all of the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund may be made:  (i) if the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) are held by a single Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-5, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D, Class E, Class F Certificates and Class A-5FL Regular Interest have been paid in full.


                    The Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and obligations of the Depositor, the Master Servicer, the Special Servicer and the Trustee and the rights of the Certificateholders under the Agreement at any time by the Depositor, the Master Servicer, the Special Servicer and the Trustee with the consent of the Holders of Certificates entitled to at least 51% of the Voting Rights allocated to the affected Classes.  Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon this Certificate.  The Agreement also permits the
amendment thereof, in certain limited circumstances, including any amendment necessary to maintain the status of the Trust Fund (or designated portions thereof) as consisting of two separate REMICs and one grantor trust, without the consent of the Holders of any of the Certificates.


                    Unless the certificate of authentication hereon has been executed by the Certificate Registrar, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.


                    The registered Holder hereof, by its acceptance hereof, agrees that it will look solely to the Trust Fund (to the extent of its rights therein) for distributions hereunder.


                    This Certificate shall be construed in accordance with the internal laws of the State of New York applicable to agreements made and to be performed in said State, and the obligations, rights and remedies of the Holder hereof shall be determined in accordance with such laws.


A-4-5









                    IN WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed.


Dated: May 23, 2007

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Certificate Registrar
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
   
  	
  
 
  	
  
Authorized   Representative
  




A-4-6









CERTIFICATE OF AUTHENTICATION


                    This is one of the Class A-PB Certificates referred to in the within-mentioned Agreement.

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Authenticating Agent
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
   
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-4-7









ASSIGNMENT


                    FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto ________________________________________________________ (please print or typewrite name and address including postal zip code of assignee) the beneficial ownership interest in the Trust Fund evidenced by the within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the registration of transfer of such interest to assignee on the Certificate Register of the Trust Fund.


                    I (we) further direct the Certificate Registrar to issue a new Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and Class to the above named assignee and deliver such Commercial Mortgage Pass-Through Certificate to the following address:  __________________________________________________.


Dated:  _________________________

	
   
  	
  


  
	
  
 
  	
  
Signature by or on behalf of Assignor
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  


  
	
  
 
  	
  
Signature Guaranteed
  




A-4-8









DISTRIBUTION INSTRUCTIONS


                    The Assignee should include the following for purposes of distribution:


                    Distributions shall, if permitted, be made by wire transfer or otherwise, in immediately available funds, to _____________________________ for the account of _______________.


                    Distributions made by check (such check to be made payable to _____________________) and all applicable statements and notices should be mailed to _________________________.


                    This information is provided by ________________________________, the Assignee named above, or ____________________________________, as its agent.


A-4-9









EXHIBIT A-5-1


FORM OF CLASS A-4 CERTIFICATE


CLASS A-PB COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
 SERIES 2007-C31


evidencing a beneficial ownership interest in a trust fund (the “Trust Fund”) consisting primarily of a pool of multifamily and commercial mortgage loans (the “Mortgage Loans”), such pool being formed and sold by


WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

	
  
Pass-Through   Rate:  5.509% per annum
  	
  
 
  	
  
Class Principal   Balance of the Class A-4 Certificates as of the Closing Date:   $1,025,478,000
  
	
   
  	
  
 
  	
  
 
  
	
  
Date of   Pooling and Servicing Agreement: as of May 1, 2007
  	
  
 
  	
  
Initial   Certificate Principal Balance of this Class A-4 Certificate as of the   Closing Date: $500,000,000
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Closing   Date:  May 23, 2007
  	
  
 
  	
  
Aggregate   Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date:   $5,845,468,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  
First   Distribution Date:  June 15, 2007
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  Master   Servicer:  Wachovia Bank, National   Association
  	
  
 
  	
  
Trustee:   Wells Fargo Bank, N.A.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Special   Servicer:  LNR Partners, Inc.
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Certificate   No. A-4-1
  	
  
 
  	
  
CUSIP No.
  




UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION (“DTC”), TO THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.


A-5-1-1









THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS, INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.  NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.


SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT” (A “REMIC”) AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986 (THE “CODE”).


DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE MADE MONTHLY AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.  IN ADDITION, IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-M, CLASS A-J, CLASS B, CLASS C, CLASS D, CLASS E, CLASS F, CLASS G, CLASS H, CLASS J, CLASS K, CLASS L, CLASS M, CLASS N, CLASS O, CLASS P, CLASS Q, CLASS S, CLASS T AND CLASS U CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE, THE CLASS A-1 CERTIFICATES, THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTTIFICATES, THE CLASS A-5 CERTIFICATES, THE CLASS A-1A CERTIFICATES AND THE CLASS A-5FL REGULAR INTEREST MAY BE REDUCED BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE AGREEMENT REFERRED TO HEREIN. 
ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.


                    This certifies that Cede & Co. is the registered owner of the Percentage Interest evidenced by this Class A-4 Certificate (obtained by dividing the principal amount of this Class A-4 Certificate (its “Certificate Principal Balance”) as of the Closing Date by the aggregate principal amount of all the Class A-4 Certificates (their “Class Principal Balance”) as of the Closing Date) in that certain beneficial ownership interest evidenced by all the Class A-4 Certificates in the Trust Fund created pursuant to a Pooling and Servicing Agreement, dated as specified above (the “Agreement”), among Wachovia Commercial Mortgage Securities, Inc. (herein called the “Depositor”, which term includes any successor entity under the Agreement), Wachovia Bank, National
Association (herein called the “Master Servicer”, which term includes any successor entity under the Agreement), LNR Partners, Inc. (herein called the “Special Servicer”, which term includes any successor entity under the Agreement) and Wells Fargo Bank, N.A. (herein called the “Trustee”, which term includes any successor entity under the Agreement), a summary of certain of the pertinent provisions of which is set forth hereafter.  To the extent not defined herein, the capitalized terms used herein have the respective meanings assigned in the Agreement.  This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound.


A-5-1-2









                    Pursuant to the terms of the Agreement, distributions will be made on the fourth Business Day following the related Determination Date (each, a “Distribution Date”).  The Determination Date is the 11th day of each month or, if such 11th day is not a Business Day, the Business Day immediately succeeding, commencing in June 2007 (each, a “Determination Date”).  Distributions will be made commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the last Business Day of the month immediately preceding the month of such distribution (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount required to be distributed to the Holders of
the Class A-4 Certificates on the applicable Distribution Date pursuant to the Agreement.  All distributions made under the Agreement on the Class A-4 Certificates will be made by Wells Fargo Bank, N.A., as paying agent (the “Paying Agent”), by wire transfer of immediately available funds to the account of the Person entitled thereto at a bank or other entity having appropriate facilities therefor, if such Certificateholder shall have provided the Paying Agent with wiring instructions no less than five Business Days prior to the related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions), or otherwise by check mailed to the address of such Certificateholder as it appears in the Certificate Register.  Notwithstanding the foregoing, the final distribution on this Certificate (determined without regard to any possible future reimbursement of any Realized Loss or Additional Trust Fund Expense previously
allocated to this Certificate) will be made in like manner, but only upon presentation and surrender of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to the Holder hereof of such final distribution.  Also notwithstanding the foregoing, any distribution that may be made with respect to this Certificate in reimbursement of any Realized Loss or Additional Trust Fund Expense previously allocated to this Certificate, which reimbursement is to occur after the date on which this Certificate is surrendered as contemplated by the preceding sentence, will be made by check mailed to the address of the Holder that surrenders this Certificate as such address last appears in the Certificate Register or to any such other address of which the Paying Agent is subsequently notified in writing.


                    The Certificates are limited in right of distribution to certain collections and recoveries respecting the Mortgage Loans and REO Loans, all as more specifically set forth herein and in the Agreement.  As provided in the Agreement, withdrawals from the Certificate Account, the Distribution Account and, if established, the REO Account may be made from time to time for purposes other than, and, in certain cases, prior to, distributions to Certificateholders, such purposes including the reimbursement of Advances made, or certain expenses incurred, with respect to the Mortgage Loans and the payment of interest on such Advances and expenses.


                    Interest accrued on this Certificate during an Interest Accrual Period, plus any unpaid interest shortfall with respect to this Certificate for any prior Distribution Date, if any, will be payable on the related Distribution Date to the extent provided in the Agreement.  The “Interest Accrual Period” with respect to any Distribution Date and with respect to the Class A-4 Certificates is the calendar month preceding the month in which such Distribution Date occurs and is assumed to consist of 30 days.


A-5-1-3









                    Any distribution to the Holder of this Certificate in reduction of the Certificate Principal Balance hereof is binding on such Holder and all future Holders of this Certificate and any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such distribution is made upon this Certificate.


                    The Class A-4 Certificates are issuable in fully registered form only without coupons in minimum denominations specified in the Agreement.  As provided in the Agreement and subject to certain limitations therein set forth, the Class A-4 Certificates are exchangeable for new Class A-4 Certificates in authorized denominations evidencing the same aggregate Percentage Interest, as requested by the Holder surrendering the same.


                    As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices of the Certificate Registrar, duly endorsed by, or accompanied by a written instrument of transfer in the form satisfactory to the Certificate Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Class A-4 Certificates in authorized denominations evidencing the same aggregate Percentage Interest will be issued to the designated transferee or transferees.


                    No service charge will be imposed for any registration of transfer or exchange of Class A-4 Certificates, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of Class A-4 Certificates.


                    Notwithstanding the foregoing, for so long as this Certificate is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC, transfers of interests in this Certificate shall be made through the book-entry facilities of DTC.


                    The Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent and the Certificate Registrar and any agent of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes whatsoever and none of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent, the Certificate Registrar or any such agent shall be affected by notice to the contrary.


                    The Trust Fund and the obligations created by the Agreement shall terminate upon distribution (or provision for distribution) to the Certificateholders of all amounts held by or on behalf of the Trustee and required to be distributed to them pursuant to the Agreement following the earlier to occur of (i) the final payment (or any advance with respect thereto) or other liquidation of the last Mortgage Loan or REO Property remaining in the Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder at a price determined as provided in the Agreement of all Mortgage Loans and each REO Property remaining in the Trust Fund.  The Agreement permits, but does not require, the Master Servicer, the Special Servicer or the Majority Subordinate
Certificateholder to purchase from the Trust Fund all Mortgage Loans and each REO Property remaining therein.  The exercise of such right will effect early retirement of the Class A-4 Certificates; however, 


A-5-1-4









such right to purchase is subject to the aggregate Stated Principal Balance of the Mortgage Pool at the time of purchase being less than 1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date specified on the face hereof.


                    In addition, any exchange by any Certificateholder of all of the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund may be made:  (i) if the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) are held by a single Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-5, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D, Class E, Class F Certificates and Class A-5FL Regular Interest have been paid in full.


                    The Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and obligations of the Depositor, the Master Servicer, the Special Servicer and the Trustee and the rights of the Certificateholders under the Agreement at any time by the Depositor, the Master Servicer, the Special Servicer and the Trustee with the consent of the Holders of Certificates entitled to at least 51% of the Voting Rights allocated to the affected Classes.  Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon this Certificate.  The Agreement also permits the
amendment thereof, in certain limited circumstances, including any amendment necessary to maintain the status of the Trust Fund (or designated portions thereof) as consisting of two separate REMICs and one grantor trust, without the consent of the Holders of any of the Certificates.


                    Unless the certificate of authentication hereon has been executed by the Certificate Registrar, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.


                    The registered Holder hereof, by its acceptance hereof, agrees that it will look solely to the Trust Fund (to the extent of its rights therein) for distributions hereunder.


                    This Certificate shall be construed in accordance with the internal laws of the State of New York applicable to agreements made and to be performed in said State, and the obligations, rights and remedies of the Holder hereof shall be determined in accordance with such laws.


A-5-1-5









                    IN WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed.


Dated: May 23, 2007

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Certificate Registrar
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
   
  	
  
 
  	
  
Authorized   Representative
  




A-5-1-6









CERTIFICATE OF AUTHENTICATION


                    This is one of the Class A-4 Certificates referred to in the within-mentioned Agreement.

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Authenticating Agent
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
   
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-5-1-7









ASSIGNMENT


                    FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto ________________________________________________________ (please print or typewrite name and address including postal zip code of assignee) the beneficial ownership interest in the Trust Fund evidenced by the within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the registration of transfer of such interest to assignee on the Certificate Register of the Trust Fund.


                    I (we) further direct the Certificate Registrar to issue a new Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and Class to the above named assignee and deliver such Commercial Mortgage Pass-Through Certificate to the following address:  __________________________________________________.


Dated:  _________________________

	
   
  	
  


  
	
  
 
  	
  
Signature by or on behalf of Assignor
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  


  
	
  
 
  	
  
Signature Guaranteed
  




A-5-1-8









DISTRIBUTION INSTRUCTIONS


                    The Assignee should include the following for purposes of distribution:


                    Distributions shall, if permitted, be made by wire transfer or otherwise, in immediately available funds, to _____________________________ for the account of _______________.


                    Distributions made by check (such check to be made payable to _____________________) and all applicable statements and notices should be mailed to _________________________.


                    This information is provided by ________________________________, the Assignee named above, or ____________________________________, as its agent.


A-5-1-9









EXHIBIT A-5-2


FORM OF CLASS A-4 CERTIFICATE


CLASS A-PB COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
 SERIES 2007-C31


evidencing a beneficial ownership interest in a trust fund (the “Trust Fund”) consisting primarily of a pool of multifamily and commercial mortgage loans (the “Mortgage Loans”), such pool being formed and sold by


WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

	
  
Pass-Through   Rate:  5.509% per annum
  	
  
 
  	
  
Class Principal   Balance of the Class A-4 Certificates as of the Closing Date:   $1,025,478,000
  
	
   
  	
  
 
  	
  
 
  
	
  
Date of   Pooling and Servicing Agreement: as of May 1, 2007
  	
  
 
  	
  
Initial   Certificate Principal Balance of this Class A-4 Certificate as of the   Closing Date: $500,000,000
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Closing   Date:  May 23, 2007
  	
  
 
  	
  
Aggregate   Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date:   $5,845,468,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  
First   Distribution Date:  June 15, 2007
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  Master   Servicer:  Wachovia Bank, National   Association
  	
  
 
  	
  
Trustee:   Wells Fargo Bank, N.A.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Special   Servicer:  LNR Partners, Inc.
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Certificate   No. A-4-2
  	
  
 
  	
  
CUSIP No.
  




UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION (“DTC”), TO THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.


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THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS, INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.  NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.


SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT” (A “REMIC”) AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986 (THE “CODE”).


DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE MADE MONTHLY AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.  IN ADDITION, IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-M, CLASS A-J, CLASS B, CLASS C, CLASS D, CLASS E, CLASS F, CLASS G, CLASS H, CLASS J, CLASS K, CLASS L, CLASS M, CLASS N, CLASS O, CLASS P, CLASS Q, CLASS S, CLASS T AND CLASS U CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE, THE CLASS A-1 CERTIFICATES, THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTTIFICATES, THE CLASS A-5 CERTIFICATES, THE CLASS A-1A CERTIFICATES AND THE CLASS A-5FL REGULAR INTEREST MAY BE REDUCED BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE AGREEMENT REFERRED TO HEREIN. 
ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.


                    This certifies that Cede & Co. is the registered owner of the Percentage Interest evidenced by this Class A-4 Certificate (obtained by dividing the principal amount of this Class A-4 Certificate (its “Certificate Principal Balance”) as of the Closing Date by the aggregate principal amount of all the Class A-4 Certificates (their “Class Principal Balance”) as of the Closing Date) in that certain beneficial ownership interest evidenced by all the Class A-4 Certificates in the Trust Fund created pursuant to a Pooling and Servicing Agreement, dated as specified above (the “Agreement”), among Wachovia Commercial Mortgage Securities, Inc. (herein called the “Depositor”, which term includes any successor entity under the Agreement), Wachovia Bank, National
Association (herein called the “Master Servicer”, which term includes any successor entity under the Agreement), LNR Partners, Inc. (herein called the “Special Servicer”, which term includes any successor entity under the Agreement) and Wells Fargo Bank, N.A. (herein called the “Trustee”, which term includes any successor entity under the Agreement), a summary of certain of the pertinent provisions of which is set forth hereafter.  To the extent not defined herein, the capitalized terms used herein have the respective meanings assigned in the Agreement.  This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound.


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                    Pursuant to the terms of the Agreement, distributions will be made on the fourth Business Day following the related Determination Date (each, a “Distribution Date”).  The Determination Date is the 11th day of each month or, if such 11th day is not a Business Day, the Business Day immediately succeeding, commencing in June 2007 (each, a “Determination Date”).  Distributions will be made commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the last Business Day of the month immediately preceding the month of such distribution (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount required to be distributed to the Holders of
the Class A-4 Certificates on the applicable Distribution Date pursuant to the Agreement.  All distributions made under the Agreement on the Class A-4 Certificates will be made by Wells Fargo Bank, N.A., as paying agent (the “Paying Agent”), by wire transfer of immediately available funds to the account of the Person entitled thereto at a bank or other entity having appropriate facilities therefor, if such Certificateholder shall have provided the Paying Agent with wiring instructions no less than five Business Days prior to the related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions), or otherwise by check mailed to the address of such Certificateholder as it appears in the Certificate Register.  Notwithstanding the foregoing, the final distribution on this Certificate (determined without regard to any possible future reimbursement of any Realized Loss or Additional Trust Fund Expense previously
allocated to this Certificate) will be made in like manner, but only upon presentation and surrender of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to the Holder hereof of such final distribution.  Also notwithstanding the foregoing, any distribution that may be made with respect to this Certificate in reimbursement of any Realized Loss or Additional Trust Fund Expense previously allocated to this Certificate, which reimbursement is to occur after the date on which this Certificate is surrendered as contemplated by the preceding sentence, will be made by check mailed to the address of the Holder that surrenders this Certificate as such address last appears in the Certificate Register or to any such other address of which the Paying Agent is subsequently notified in writing.


                    The Certificates are limited in right of distribution to certain collections and recoveries respecting the Mortgage Loans and REO Loans, all as more specifically set forth herein and in the Agreement.  As provided in the Agreement, withdrawals from the Certificate Account, the Distribution Account and, if established, the REO Account may be made from time to time for purposes other than, and, in certain cases, prior to, distributions to Certificateholders, such purposes including the reimbursement of Advances made, or certain expenses incurred, with respect to the Mortgage Loans and the payment of interest on such Advances and expenses.


                    Interest accrued on this Certificate during an Interest Accrual Period, plus any unpaid interest shortfall with respect to this Certificate for any prior Distribution Date, if any, will be payable on the related Distribution Date to the extent provided in the Agreement.  The “Interest Accrual Period” with respect to any Distribution Date and with respect to the Class A-4 Certificates is the calendar month preceding the month in which such Distribution Date occurs and is assumed to consist of 30 days.


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                    Any distribution to the Holder of this Certificate in reduction of the Certificate Principal Balance hereof is binding on such Holder and all future Holders of this Certificate and any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such distribution is made upon this Certificate.


                    The Class A-4 Certificates are issuable in fully registered form only without coupons in minimum denominations specified in the Agreement.  As provided in the Agreement and subject to certain limitations therein set forth, the Class A-4 Certificates are exchangeable for new Class A-4 Certificates in authorized denominations evidencing the same aggregate Percentage Interest, as requested by the Holder surrendering the same.


                    As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices of the Certificate Registrar, duly endorsed by, or accompanied by a written instrument of transfer in the form satisfactory to the Certificate Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Class A-4 Certificates in authorized denominations evidencing the same aggregate Percentage Interest will be issued to the designated transferee or transferees.


                    No service charge will be imposed for any registration of transfer or exchange of Class A-4 Certificates, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of Class A-4 Certificates.


                    Notwithstanding the foregoing, for so long as this Certificate is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC, transfers of interests in this Certificate shall be made through the book-entry facilities of DTC.


                    The Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent and the Certificate Registrar and any agent of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes whatsoever and none of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent, the Certificate Registrar or any such agent shall be affected by notice to the contrary.


                    The Trust Fund and the obligations created by the Agreement shall terminate upon distribution (or provision for distribution) to the Certificateholders of all amounts held by or on behalf of the Trustee and required to be distributed to them pursuant to the Agreement following the earlier to occur of (i) the final payment (or any advance with respect thereto) or other liquidation of the last Mortgage Loan or REO Property remaining in the Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder at a price determined as provided in the Agreement of all Mortgage Loans and each REO Property remaining in the Trust Fund.  The Agreement permits, but does not require, the Master Servicer, the Special Servicer or the Majority Subordinate
Certificateholder to purchase from the Trust Fund all Mortgage Loans and each REO Property remaining therein.  The exercise of such right will effect early retirement of the Class A-4 Certificates; however, 


A-5-2-4









such right to purchase is subject to the aggregate Stated Principal Balance of the Mortgage Pool at the time of purchase being less than 1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date specified on the face hereof.


                    In addition, any exchange by any Certificateholder of all of the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund may be made:  (i) if the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) are held by a single Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-5, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D, Class E, Class F Certificates and Class A-5FL Regular Interest have been paid in full.


                    The Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and obligations of the Depositor, the Master Servicer, the Special Servicer and the Trustee and the rights of the Certificateholders under the Agreement at any time by the Depositor, the Master Servicer, the Special Servicer and the Trustee with the consent of the Holders of Certificates entitled to at least 51% of the Voting Rights allocated to the affected Classes.  Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon this Certificate.  The Agreement also permits the
amendment thereof, in certain limited circumstances, including any amendment necessary to maintain the status of the Trust Fund (or designated portions thereof) as consisting of two separate REMICs and one grantor trust, without the consent of the Holders of any of the Certificates.


                    Unless the certificate of authentication hereon has been executed by the Certificate Registrar, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.


                    The registered Holder hereof, by its acceptance hereof, agrees that it will look solely to the Trust Fund (to the extent of its rights therein) for distributions hereunder.


                    This Certificate shall be construed in accordance with the internal laws of the State of New York applicable to agreements made and to be performed in said State, and the obligations, rights and remedies of the Holder hereof shall be determined in accordance with such laws.


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                    IN WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed.


Dated: May 23, 2007

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Certificate Registrar
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
   
  	
  
 
  	
  
Authorized   Representative
  




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CERTIFICATE OF AUTHENTICATION


                    This is one of the Class A-4 Certificates referred to in the within-mentioned Agreement.

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Authenticating Agent
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
   
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-5-2-7









ASSIGNMENT


                    FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto ________________________________________________________ (please print or typewrite name and address including postal zip code of assignee) the beneficial ownership interest in the Trust Fund evidenced by the within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the registration of transfer of such interest to assignee on the Certificate Register of the Trust Fund.


                    I (we) further direct the Certificate Registrar to issue a new Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and Class to the above named assignee and deliver such Commercial Mortgage Pass-Through Certificate to the following address:  __________________________________________________.


Dated:  _________________________

	
   
  	
  


  
	
  
 
  	
  
Signature by or on behalf of Assignor
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  


  
	
  
 
  	
  
Signature Guaranteed
  




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DISTRIBUTION INSTRUCTIONS


                    The Assignee should include the following for purposes of distribution:


                    Distributions shall, if permitted, be made by wire transfer or otherwise, in immediately available funds, to _____________________________ for the account of _______________.


                    Distributions made by check (such check to be made payable to _____________________) and all applicable statements and notices should be mailed to _________________________.


                    This information is provided by ________________________________, the Assignee named above, or ____________________________________, as its agent.


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EXHIBIT A-5-3


FORM OF CLASS A-4 CERTIFICATE


CLASS A-PB COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
 SERIES 2007-C31


evidencing a beneficial ownership interest in a trust fund (the “Trust Fund”) consisting primarily of a pool of multifamily and commercial mortgage loans (the “Mortgage Loans”), such pool being formed and sold by


WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

	
  
Pass-Through   Rate:  5.509% per annum
  	
  
 
  	
  
Class Principal   Balance of the Class A-4 Certificates as of the Closing Date:   $1,025,472,000
  
	
   
  	
  
 
  	
  
 
  
	
  
Date of   Pooling and Servicing Agreement: as of May 1, 2007
  	
  
 
  	
  
Initial   Certificate Principal Balance of this Class A-4 Certificate as of the   Closing Date: $25,478,000
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Closing   Date:  May 23, 2007
  	
  
 
  	
  
Aggregate   Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date:   $5,845,468,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  
First   Distribution Date:  June 15, 2007
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  Master   Servicer:  Wachovia Bank, National   Association
  	
  
 
  	
  
Trustee:   Wells Fargo Bank, N.A.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Special   Servicer:  LNR Partners, Inc.
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Certificate   No. A-4-3
  	
  
 
  	
  
CUSIP No.
  




UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION (“DTC”), TO THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.


A-5-3-1









THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS, INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.  NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.


SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT” (A “REMIC”) AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986 (THE “CODE”).


DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE MADE MONTHLY AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.  IN ADDITION, IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-M, CLASS A-J, CLASS B, CLASS C, CLASS D, CLASS E, CLASS F, CLASS G, CLASS H, CLASS J, CLASS K, CLASS L, CLASS M, CLASS N, CLASS O, CLASS P, CLASS Q, CLASS S, CLASS T AND CLASS U CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE, THE CLASS A-1 CERTIFICATES, THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTTIFICATES, THE CLASS A-5 CERTIFICATES, THE CLASS A-1A CERTIFICATES AND THE CLASS A-5FL REGULAR INTEREST MAY BE REDUCED BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE AGREEMENT REFERRED TO HEREIN. 
ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.


                    This certifies that Cede & Co. is the registered owner of the Percentage Interest evidenced by this Class A-4 Certificate (obtained by dividing the principal amount of this Class A-4 Certificate (its “Certificate Principal Balance”) as of the Closing Date by the aggregate principal amount of all the Class A-4 Certificates (their “Class Principal Balance”) as of the Closing Date) in that certain beneficial ownership interest evidenced by all the Class A-4 Certificates in the Trust Fund created pursuant to a Pooling and Servicing Agreement, dated as specified above (the “Agreement”), among Wachovia Commercial Mortgage Securities, Inc. (herein called the “Depositor”, which term includes any successor entity under the Agreement), Wachovia Bank, National
Association (herein called the “Master Servicer”, which term includes any successor entity under the Agreement), LNR Partners, Inc. (herein called the “Special Servicer”, which term includes any successor entity under the Agreement) and Wells Fargo Bank, N.A. (herein called the “Trustee”, which term includes any successor entity under the Agreement), a summary of certain of the pertinent provisions of which is set forth hereafter.  To the extent not defined herein, the capitalized terms used herein have the respective meanings assigned in the Agreement.  This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound.


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                    Pursuant to the terms of the Agreement, distributions will be made on the fourth Business Day following the related Determination Date (each, a “Distribution Date”).  The Determination Date is the 11th day of each month or, if such 11th day is not a Business Day, the Business Day immediately succeeding, commencing in June 2007 (each, a “Determination Date”).  Distributions will be made commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the last Business Day of the month immediately preceding the month of such distribution (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount required to be distributed to the Holders of
the Class A-4 Certificates on the applicable Distribution Date pursuant to the Agreement.  All distributions made under the Agreement on the Class A-4 Certificates will be made by Wells Fargo Bank, N.A., as paying agent (the “Paying Agent”), by wire transfer of immediately available funds to the account of the Person entitled thereto at a bank or other entity having appropriate facilities therefor, if such Certificateholder shall have provided the Paying Agent with wiring instructions no less than five Business Days prior to the related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions), or otherwise by check mailed to the address of such Certificateholder as it appears in the Certificate Register.  Notwithstanding the foregoing, the final distribution on this Certificate (determined without regard to any possible future reimbursement of any Realized Loss or Additional Trust Fund Expense previously
allocated to this Certificate) will be made in like manner, but only upon presentation and surrender of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to the Holder hereof of such final distribution.  Also notwithstanding the foregoing, any distribution that may be made with respect to this Certificate in reimbursement of any Realized Loss or Additional Trust Fund Expense previously allocated to this Certificate, which reimbursement is to occur after the date on which this Certificate is surrendered as contemplated by the preceding sentence, will be made by check mailed to the address of the Holder that surrenders this Certificate as such address last appears in the Certificate Register or to any such other address of which the Paying Agent is subsequently notified in writing.


                    The Certificates are limited in right of distribution to certain collections and recoveries respecting the Mortgage Loans and REO Loans, all as more specifically set forth herein and in the Agreement.  As provided in the Agreement, withdrawals from the Certificate Account, the Distribution Account and, if established, the REO Account may be made from time to time for purposes other than, and, in certain cases, prior to, distributions to Certificateholders, such purposes including the reimbursement of Advances made, or certain expenses incurred, with respect to the Mortgage Loans and the payment of interest on such Advances and expenses.


                    Interest accrued on this Certificate during an Interest Accrual Period, plus any unpaid interest shortfall with respect to this Certificate for any prior Distribution Date, if any, will be payable on the related Distribution Date to the extent provided in the Agreement.  The “Interest Accrual Period” with respect to any Distribution Date and with respect to the Class A-4 Certificates is the calendar month preceding the month in which such Distribution Date occurs and is assumed to consist of 30 days.


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                    Any distribution to the Holder of this Certificate in reduction of the Certificate Principal Balance hereof is binding on such Holder and all future Holders of this Certificate and any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such distribution is made upon this Certificate.


                    The Class A-4 Certificates are issuable in fully registered form only without coupons in minimum denominations specified in the Agreement.  As provided in the Agreement and subject to certain limitations therein set forth, the Class A-4 Certificates are exchangeable for new Class A-4 Certificates in authorized denominations evidencing the same aggregate Percentage Interest, as requested by the Holder surrendering the same.


                    As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices of the Certificate Registrar, duly endorsed by, or accompanied by a written instrument of transfer in the form satisfactory to the Certificate Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Class A-4 Certificates in authorized denominations evidencing the same aggregate Percentage Interest will be issued to the designated transferee or transferees.


                    No service charge will be imposed for any registration of transfer or exchange of Class A-4 Certificates, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of Class A-4 Certificates.


                    Notwithstanding the foregoing, for so long as this Certificate is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC, transfers of interests in this Certificate shall be made through the book-entry facilities of DTC.


                    The Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent and the Certificate Registrar and any agent of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes whatsoever and none of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent, the Certificate Registrar or any such agent shall be affected by notice to the contrary.


                    The Trust Fund and the obligations created by the Agreement shall terminate upon distribution (or provision for distribution) to the Certificateholders of all amounts held by or on behalf of the Trustee and required to be distributed to them pursuant to the Agreement following the earlier to occur of (i) the final payment (or any advance with respect thereto) or other liquidation of the last Mortgage Loan or REO Property remaining in the Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder at a price determined as provided in the Agreement of all Mortgage Loans and each REO Property remaining in the Trust Fund.  The Agreement permits, but does not require, the Master Servicer, the Special Servicer or the Majority Subordinate
Certificateholder to purchase from the Trust Fund all Mortgage Loans and each REO Property remaining therein.  The exercise of such right will effect early retirement of the Class A-4 Certificates; however, 


A-5-3-4









such right to purchase is subject to the aggregate Stated Principal Balance of the Mortgage Pool at the time of purchase being less than 1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date specified on the face hereof.


                    In addition, any exchange by any Certificateholder of all of the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund may be made:  (i) if the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) are held by a single Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-5, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D, Class E, Class F Certificates and Class A-5FL Regular Interest have been paid in full.


                    The Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and obligations of the Depositor, the Master Servicer, the Special Servicer and the Trustee and the rights of the Certificateholders under the Agreement at any time by the Depositor, the Master Servicer, the Special Servicer and the Trustee with the consent of the Holders of Certificates entitled to at least 51% of the Voting Rights allocated to the affected Classes.  Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon this Certificate.  The Agreement also permits the
amendment thereof, in certain limited circumstances, including any amendment necessary to maintain the status of the Trust Fund (or designated portions thereof) as consisting of two separate REMICs and one grantor trust, without the consent of the Holders of any of the Certificates.


                    Unless the certificate of authentication hereon has been executed by the Certificate Registrar, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.


                    The registered Holder hereof, by its acceptance hereof, agrees that it will look solely to the Trust Fund (to the extent of its rights therein) for distributions hereunder.


                    This Certificate shall be construed in accordance with the internal laws of the State of New York applicable to agreements made and to be performed in said State, and the obligations, rights and remedies of the Holder hereof shall be determined in accordance with such laws.


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                    IN WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed.


Dated: May 23, 2007

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Certificate Registrar
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
   
  	
  
 
  	
  
Authorized   Representative
  




A-5-3-6









CERTIFICATE OF AUTHENTICATION


                    This is one of the Class A-4 Certificates referred to in the within-mentioned Agreement.

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Authenticating Agent
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
   
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-5-3-7









ASSIGNMENT


                    FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto ________________________________________________________ (please print or typewrite name and address including postal zip code of assignee) the beneficial ownership interest in the Trust Fund evidenced by the within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the registration of transfer of such interest to assignee on the Certificate Register of the Trust Fund.


                    I (we) further direct the Certificate Registrar to issue a new Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and Class to the above named assignee and deliver such Commercial Mortgage Pass-Through Certificate to the following address:  __________________________________________________.


Dated:  _________________________

	
   
  	
  


  
	
  
 
  	
  
Signature by or on behalf of Assignor
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  


  
	
  
 
  	
  
Signature Guaranteed
  




A-5-3-8









DISTRIBUTION INSTRUCTIONS


                    The Assignee should include the following for purposes of distribution:


                    Distributions shall, if permitted, be made by wire transfer or otherwise, in immediately available funds, to _____________________________ for the account of _______________.


                    Distributions made by check (such check to be made payable to _____________________) and all applicable statements and notices should be mailed to _________________________.


                    This information is provided by ________________________________, the Assignee named above, or ____________________________________, as its agent.


A-5-3-9









EXHIBIT A-6


FORM OF CLASS A-5 CERTIFICATE


CLASS A-5 COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
 SERIES 2007-C31


evidencing a beneficial ownership interest in a trust fund (the “Trust Fund”) consisting primarily of a pool of multifamily and commercial mortgage loans (the “Mortgage Loans”), such pool being formed and sold by


WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

	
  
Pass-Through   Rate:  5.500% per annum
  	
  
 
  	
  
Class Principal   Balance of the Class A-5 Certificates as of the Closing Date:   $250,000,000
  
	
   
  	
  
 
  	
  
 
  
	
  
Date of   Pooling and Servicing Agreement: as of May 1, 2007
  	
  
 
  	
  
Initial   Certificate Principal Balance of this Class A-5 Certificate as of the   Closing Date: $250,000,000
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Closing   Date:  May 23, 2007
  	
  
 
  	
  
Aggregate   Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date:   $5,845,468,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  
First   Distribution Date:  June 15, 2007
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  Master   Servicer:  Wachovia Bank, National   Association
  	
  
 
  	
  
Trustee:   Wells Fargo Bank, N.A.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Special   Servicer:  LNR Partners, Inc.
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Certificate   No.  A-5-1
  	
  
 
  	
  
CUSIP No.
  




UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION (“DTC”), TO THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.


A-6-1









THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS, INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.  NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.


SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT” (A “REMIC”) AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986 (THE “CODE”). NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST THEREIN SHALL BE MADE TO ANY “EMPLOYEE BENEFIT PLAN” SUBJECT TO TITLE I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), ANY “PLAN” SUBJECT TO SECTION 4975 OF THE CODE, OR ANY OTHER RETIREMENT PLAN OR OTHER EMPLOYEE BENEFIT PLAN OR ARRANGEMENT SUBJECT TO ANY FEDERAL, STATE, LOCAL, OR OTHER LAW SUBSTANTIVELY SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE, OR ANY PERSON ACTING ON BEHALF OF OR WITH ANY ASSETS OF ANY SUCH PLAN (EACH, A “PLAN”) UNLESS (A) IT IS AN ACCREDITED INVESTOR AS DEFINED IN RULE
501(A)(1) OR REGULATION D UNDER THE SECURITIES ACT AND (B) THE DECISION TO ACQUIRE THIS CERTIFICATE WAS MADE BY A QUALIFIED PROFESSIONAL ASSET MANAGER (AS DEFINED IN PTE 84-14), AN IN HOUSE ASSET MANAGER (AS DEFINED IN PTE 96-23), OR A PLAN FIDUCIARY WITH TOTAL ASSETS UNDER MANAGEMENT OF AT LEAST $100 MILLION AT THE TIME THE CERTIFICATE IS ACQUIRED.


DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE MADE MONTHLY AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.  IN ADDITION, IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-M, CLASS A-J, CLASS B, CLASS C, CLASS D, CLASS E, CLASS F, CLASS G, CLASS H, CLASS J, CLASS K, CLASS L, CLASS M, CLASS N, CLASS O, CLASS P, CLASS Q, CLASS S, CLASS T AND CLASS U CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE, THE CLASS A-1 CERTIFICATES, THE CLASS A–2 CERTIFICATES, THE CLASS A–3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-1A CERTIFICATES AND THE CLASS A-5FL REGULAR INTEREST MAY BE REDUCED BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE AGREEMENT REFERRED TO
HEREIN.  ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.


A-6-2









                    This certifies that Cede & Co. is the registered owner of the Percentage Interest evidenced by this Class A-5 Certificate (obtained by dividing the principal amount of this Class A-5 Certificate (its “Certificate Principal Balance”) as of the Closing Date by the aggregate principal amount of all the Class A-5 Certificates (their “Class Principal Balance”) as of the Closing Date) in that certain beneficial ownership interest evidenced by all the Class A-5 Certificates in the Trust Fund created pursuant to a Pooling and Servicing Agreement, dated as specified above (the “Agreement”), among Wachovia Commercial Mortgage Securities, Inc. (herein called the “Depositor”, which term includes any successor entity under the Agreement), Wachovia
Bank, National Association (herein called the “Master Servicer”, which term includes any successor entity under the Agreement), LNR Partners, Inc. (herein called the “Special Servicer”, which term includes any successor entity under the Agreement) and Wells Fargo Bank, N.A. (herein called the “Trustee”, which term includes any successor entity under the Agreement), a summary of certain of the pertinent provisions of which is set forth hereafter.  To the extent not defined herein, the capitalized terms used herein have the respective meanings assigned in the Agreement.  This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound.


                    Pursuant to the terms of the Agreement, distributions will be made on the fourth Business Day following the related Determination Date (each, a “Distribution Date”).  The Determination Date is the 11th day of each month or, if such 11th day is not a Business Day, the Business Day immediately succeeding, commencing in June 2007 (each, a “Determination Date”).  Distributions will be made commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the last Business Day of the month immediately preceding the month of such distribution (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount required to be distributed to the Holders of
the Class A-5 Certificates on the applicable Distribution Date pursuant to the Agreement.  All distributions made under the Agreement on the Class A-5 Certificates will be made by Wells Fargo Bank, N.A., as paying agent (the “Paying Agent”), by wire transfer of immediately available funds to the account of the Person entitled thereto at a bank or other entity having appropriate facilities therefor, if such Certificateholder shall have provided the Paying Agent with wiring instructions no less than five Business Days prior to the related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions), or otherwise by check mailed to the address of such Certificateholder as it appears in the Certificate Register.  Notwithstanding the foregoing, the final distribution on this Certificate (determined without regard to any possible future reimbursement of any Realized Loss or Additional Trust Fund Expense
previously allocated to this Certificate) will be made in like manner, but only upon presentation and surrender of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to the Holder hereof of such final distribution.  Also notwithstanding the foregoing, any distribution that may be made with respect to this Certificate in reimbursement of any Realized Loss or Additional Trust Fund Expense previously allocated to this Certificate, which reimbursement is to occur after the date on which this Certificate is surrendered as contemplated by the preceding sentence, will be made by check mailed to the address of the Holder that surrenders this Certificate as such address last appears in the Certificate Register or to any such other address of which the Paying Agent is subsequently notified in writing.


A-6-3









                    The Certificates are limited in right of distribution to certain collections and recoveries respecting the Mortgage Loans and REO Loans, all as more specifically set forth herein and in the Agreement.  As provided in the Agreement, withdrawals from the Certificate Account, the Distribution Account and, if established, the REO Account may be made from time to time for purposes other than, and, in certain cases, prior to, distributions to Certificateholders, such purposes including the reimbursement of Advances made, or certain expenses incurred, with respect to the Mortgage Loans and the payment of interest on such Advances and expenses.


                    Interest accrued on this Certificate during an Interest Accrual Period, plus any unpaid interest shortfall with respect to this Certificate for any prior Distribution Date, if any, will be payable on the related Distribution Date to the extent provided in the Agreement.  The “Interest Accrual Period” with respect to any Distribution Date and with respect to the Class A-5 Certificates is the calendar month preceding the month in which such Distribution Date occurs and is assumed to consist of 30 days.


                    Any distribution to the Holder of this Certificate in reduction of the Certificate Principal Balance hereof is binding on such Holder and all future Holders of this Certificate and any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such distribution is made upon this Certificate.


                    The Class A-5 Certificates are issuable in fully registered form only without coupons in minimum denominations specified in the Agreement.  As provided in the Agreement and subject to certain limitations therein set forth, the Class A-5 Certificates are exchangeable for new Class A-5 Certificates in authorized denominations evidencing the same aggregate Percentage Interest, as requested by the Holder surrendering the same.


                    As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices of the Certificate Registrar, duly endorsed by, or accompanied by a written instrument of transfer in the form satisfactory to the Certificate Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Class A-5 Certificates in authorized denominations evidencing the same aggregate Percentage Interest will be issued to the designated transferee or transferees.


                    No service charge will be imposed for any registration of transfer or exchange of Class A-5 Certificates, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of Class A-5 Certificates.


                    Notwithstanding the foregoing, for so long as this Certificate is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC, transfers of interests in this Certificate shall be made through the book-entry facilities of DTC.


                    The Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent and the Certificate Registrar and any agent of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes whatsoever and none of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent, the Certificate Registrar or any such agent shall be affected by notice to the contrary.


A-6-4









                    The Trust Fund and the obligations created by the Agreement shall terminate upon distribution (or provision for distribution) to the Certificateholders of all amounts held by or on behalf of the Trustee and required to be distributed to them pursuant to the Agreement following the earlier to occur of (i) the final payment (or any advance with respect thereto) or other liquidation of the last Mortgage Loan or REO Property remaining in the Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder at a price determined as provided in the Agreement of all Mortgage Loans and each REO Property remaining in the Trust Fund.  The Agreement permits, but does not require, the Master Servicer, the Special Servicer or the Majority Subordinate
Certificateholder to purchase from the Trust Fund all Mortgage Loans and each REO Property remaining therein.  The exercise of such right will effect early retirement of the Class A-5 Certificates; however, such right to purchase is subject to the aggregate Stated Principal Balance of the Mortgage Pool at the time of purchase being less than 1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date specified on the face hereof.


                    In addition, any exchange by any Certificateholder of all of the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund may be made:  (i) if the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) are held by a single Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-5, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D, Class E, Class F Certificates and Class A-5FL Regular Interest have been paid in full.


                    The Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and obligations of the Depositor, the Master Servicer, the Special Servicer and the Trustee and the rights of the Certificateholders under the Agreement at any time by the Depositor, the Master Servicer, the Special Servicer and the Trustee with the consent of the Holders of Certificates entitled to at least 51% of the Voting Rights allocated to the affected Classes.  Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon this Certificate.  The Agreement also permits the
amendment thereof, in certain limited circumstances, including any amendment necessary to maintain the status of the Trust Fund (or designated portions thereof) as consisting of two separate REMICs and one grantor trust, without the consent of the Holders of any of the Certificates.


                    Unless the certificate of authentication hereon has been executed by the Certificate Registrar, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.


                    The registered Holder hereof, by its acceptance hereof, agrees that it will look solely to the Trust Fund (to the extent of its rights therein) for distributions hereunder.


A-6-5









                    This Certificate shall be construed in accordance with the internal laws of the State of New York applicable to agreements made and to be performed in said State, and the obligations, rights and remedies of the Holder hereof shall be determined in accordance with such laws.


A-6-6









                    IN WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed.


Dated:  May 23, 2007

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Certificate Registrar
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
   
  	
  
 
  	
  
Authorized   Representative
  




A-6-7









CERTIFICATE OF AUTHENTICATION


                    This is one of the Class A-5 Certificates referred to in the within-mentioned Agreement.

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Authenticating Agent
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
   
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-6-8









ASSIGNMENT


                    FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto ________________________________________________________ (please print or typewrite name and address including postal zip code of assignee) the beneficial ownership interest in the Trust Fund evidenced by the within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the registration of transfer of such interest to assignee on the Certificate Register of the Trust Fund.


                    I (we) further direct the Certificate Registrar to issue a new Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and Class to the above named assignee and deliver such Commercial Mortgage Pass-Through Certificate to the following address:  __________________________________________________.


Dated:  _________________________

	
   
  	
  


  
	
  
 
  	
  
Signature by or on behalf of Assignor
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  


  
	
  
 
  	
  
Signature Guaranteed
  




A-6-9









DISTRIBUTION INSTRUCTIONS


                    The Assignee should include the following for purposes of distribution:


                    Distributions shall, if permitted, be made by wire transfer or otherwise, in immediately available funds, to _____________________________ for the account of _______________.


                    Distributions made by check (such check to be made payable to _____________________) and all applicable statements and notices should be mailed to _________________________.


                    This information is provided by ________________________________, the Assignee named above, or ____________________________________, as its agent.


A-6-10









EXHIBIT A-7-1


FORM OF CLASS A-1A CERTIFICATE


CLASS A-1A COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
 SERIES 2007-C31


evidencing a beneficial ownership interest in a trust fund (the “Trust Fund”) consisting primarily of a pool of multifamily and commercial mortgage loans (the “Mortgage Loans”), such pool being formed and sold by


WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

	
  
Pass-Through   Rate:  5.498% per annum
  	
  
 
  	
  
Class Principal   Balance of the Class A-1A Certificates as of the Closing Date:   $1,327,630,000
  
	
   
  	
  
 
  	
  
 
  
	
  
Date of   Pooling and Servicing Agreement: as of May 1, 2007
  	
  
 
  	
  
Initial   Certificate Principal Balance of this Class A-1A Certificate as of the   Closing Date: $500,000,000
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Closing   Date:  May 23, 2007
  	
  
 
  	
  
Aggregate   Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date:   $5,845,468,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  
First   Distribution Date:  June 15, 2007
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  Master   Servicer:  Wachovia Bank, National   Association
  	
  
 
  	
  
Trustee:   Wells Fargo Bank, N.A.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Special   Servicer:  LNR Partners, Inc.
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Certificate   No.  A-1A-1
  	
  
 
  	
  
CUSIP No.
  




UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION (“DTC”), TO THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.


A-7-1-1









THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS, INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.  NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.


SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT” (A “REMIC”) AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986 (THE “CODE”).


DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE MADE MONTHLY AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.  IN ADDITION, IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-M, CLASS A-J, CLASS B, CLASS C, CLASS D, CLASS E, CLASS F, CLASS G, CLASS H, CLASS J, CLASS K, CLASS L, CLASS M, CLASS N, CLASS O, CLASS P, CLASS Q, CLASS S, CLASS T AND CLASS U CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE, THE CLASS A-1 CERTIFICATES, THE CLASS A-2 CERTIFICATES, THE CLASS A-3  CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-5 CERTIFICATES AND THE CLASS A-5FL REGULAR INTEREST MAY BE REDUCED BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE AGREEMENT REFERRED TO HEREIN. 
ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.


                    This certifies that Cede & Co. is the registered owner of the Percentage Interest evidenced by this Class A-1A Certificate (obtained by dividing the principal amount of this Class A-1A Certificate (its “Certificate Principal Balance”) as of the Closing Date by the aggregate principal amount of all the Class A-1A Certificates (their “Class Principal Balance”) as of the Closing Date) in that certain beneficial ownership interest evidenced by all the Class A-1A Certificates in the Trust Fund created pursuant to a Pooling and Servicing Agreement, dated as specified above (the “Agreement”), among Wachovia Commercial Mortgage Securities, Inc. (herein called the “Depositor”, which term includes any successor entity under the Agreement),
Wachovia Bank, National Association (herein called the “Master Servicer”, which term includes any successor entity under the Agreement), LNR Partners, Inc. (herein called the “Special Servicer”, which term includes any successor entity under the Agreement) and Wells Fargo Bank, N.A. (herein called the “Trustee”), which term includes any successor entity under the Agreement), a summary of certain of the pertinent provisions of which is set forth hereafter.  To the extent not defined herein, the capitalized terms used herein have the respective meanings assigned in the Agreement.  This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound.


A-7-1-2









                    Pursuant to the terms of the Agreement, distributions will be made on the fourth Business Day following the related Determination Date (each, a “Distribution Date”).  The Determination Date is the 11th day of each month or, if such 11th day is not a Business Day, the Business Day immediately succeeding, commencing in June 2007 (each, a “Determination Date”).  Distributions will be made commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the last Business Day of the month immediately preceding the month of such distribution (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount required to be distributed to the Holders of
the Class A-1A Certificates on the applicable Distribution Date pursuant to the Agreement.  All distributions made under the Agreement on the Class A-1A Certificates will be made by Wells Fargo Bank, N.A., as paying agent (the “Paying Agent”), by wire transfer of immediately available funds to the account of the Person entitled thereto at a bank or other entity having appropriate facilities therefor, if such Certificateholder shall have provided the Paying Agent with wiring instructions no less than five Business Days prior to the related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions), or otherwise by check mailed to the address of such Certificateholder as it appears in the Certificate Register.  Notwithstanding the foregoing, the final distribution on this Certificate (determined without regard to any possible future reimbursement of any Realized Loss or Additional Trust Fund Expense
previously allocated to this Certificate) will be made in like manner, but only upon presentation and surrender of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to the Holder hereof of such final distribution.  Also notwithstanding the foregoing, any distribution that may be made with respect to this Certificate in reimbursement of any Realized Loss or Additional Trust Fund Expense previously allocated to this Certificate, which reimbursement is to occur after the date on which this Certificate is surrendered as contemplated by the preceding sentence, will be made by check mailed to the address of the Holder that surrenders this Certificate as such address last appears in the Certificate Register or to any such other address of which the Paying Agent is subsequently notified in writing.


                    The Certificates are limited in right of distribution to certain collections and recoveries respecting the Mortgage Loans and REO Loans, all as more specifically set forth herein and in the Agreement.  As provided in the Agreement, withdrawals from the Certificate Account, the Distribution Account and, if established, the REO Account may be made from time to time for purposes other than, and, in certain cases, prior to, distributions to Certificateholders, such purposes including the reimbursement of Advances made, or certain expenses incurred, with respect to the Mortgage Loans and the payment of interest on such Advances and expenses.


                    Interest accrued on this Certificate during an Interest Accrual Period, plus any unpaid interest shortfall with respect to this Certificate for any prior Distribution Date, if any, will be payable on the related Distribution Date to the extent provided in the Agreement.  The “Interest Accrual Period” with respect to any Distribution Date and with respect to the Class A-1A Certificates is the calendar month preceding the month in which such Distribution Date occurs and is assumed to consist of 30 days.


A-7-1-3









                    Any distribution to the Holder of this Certificate in reduction of the Certificate Principal Balance hereof is binding on such Holder and all future Holders of this Certificate and any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such distribution is made upon this Certificate.


                    The Class A-1A Certificates are issuable in fully registered form only without coupons in minimum denominations specified in the Agreement.  As provided in the Agreement and subject to certain limitations therein set forth, the Class A-1A Certificates are exchangeable for new Class A-1A Certificates in authorized denominations evidencing the same aggregate Percentage Interest, as requested by the Holder surrendering the same.


                    As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices of the Certificate Registrar, duly endorsed by, or accompanied by a written instrument of transfer in the form satisfactory to the Certificate Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Class A-1A Certificates in authorized denominations evidencing the same aggregate Percentage Interest will be issued to the designated transferee or transferees.


                    No service charge will be imposed for any registration of transfer or exchange of Class A-1A Certificates, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of Class A-1A Certificates.


                    Notwithstanding the foregoing, for so long as this Certificate is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC, transfers of interests in this Certificate shall be made through the book-entry facilities of DTC.


                    The Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent and the Certificate Registrar and any agent of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes whatsoever and none of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent, the Certificate Registrar or any such agent shall be affected by notice to the contrary.


                    The Trust Fund and the obligations created by the Agreement shall terminate upon distribution (or provision for distribution) to the Certificateholders of all amounts held by or on behalf of the Trustee and required to be distributed to them pursuant to the Agreement following the earlier to occur of (i) the final payment (or any advance with respect thereto) or other liquidation of the last Mortgage Loan or REO Property remaining in the Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder at a price determined as provided in the Agreement of all Mortgage Loans and each REO Property remaining in the Trust Fund.  The Agreement permits, but does not require, the Master Servicer, the Special Servicer or the Majority Subordinate
Certificateholder to purchase from the Trust Fund all Mortgage Loans and each REO Property remaining therein.  The exercise of such right will effect early retirement of the Class A-1A Certificates; however, 


A-7-1-4









such right to purchase is subject to the aggregate Stated Principal Balance of the Mortgage Pool at the time of purchase being less than 1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date specified on the face hereof.


                    In addition, any exchange by any Certificateholder of all of the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund may be made:  (i) if the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) are held by a single Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-5, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D, Class E, Class F Certificates and Class A-5FL Regular Interest have been paid in full.


                    The Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and obligations of the Depositor, the Master Servicer, the Special Servicer and the Trustee and the rights of the Certificateholders under the Agreement at any time by the Depositor, the Master Servicer, the Special Servicer and the Trustee with the consent of the Holders of Certificates entitled to at least 51% of the Voting Rights allocated to the affected Classes.  Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon this Certificate.  The Agreement also permits the
amendment thereof, in certain limited circumstances, including any amendment necessary to maintain the status of the Trust Fund (or designated portions thereof) as consisting of two separate REMICs and one grantor trust, without the consent of the Holders of any of the Certificates.


                    Unless the certificate of authentication hereon has been executed by the Certificate Registrar, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.


                    The registered Holder hereof, by its acceptance hereof, agrees that it will look solely to the Trust Fund (to the extent of its rights therein) for distributions hereunder.


                    This Certificate shall be construed in accordance with the internal laws of the State of New York applicable to agreements made and to be performed in said State, and the obligations, rights and remedies of the Holder hereof shall be determined in accordance with such laws.


A-7-1-5









                    IN WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed.


Dated:  May 23, 2007

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Certificate Registrar
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
   
  	
  
 
  	
  
Authorized   Representative
  




A-7-1-6









CERTIFICATE OF AUTHENTICATION


                    This is one of the Class A-1A Certificates referred to in the within-mentioned Agreement.

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Authenticating Agent
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
   
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-7-1-7









ASSIGNMENT


                    FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto ________________________________________________________ (please print or typewrite name and address including postal zip code of assignee) the beneficial ownership interest in the Trust Fund evidenced by the within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the registration of transfer of such interest to assignee on the Certificate Register of the Trust Fund.


                    I (we) further direct the Certificate Registrar to issue a new Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and Class to the above named assignee and deliver such Commercial Mortgage Pass-Through Certificate to the following address:  __________________________________________________.


Dated:  _________________________

	
   
  	
  


  
	
  
 
  	
  
Signature by or on behalf of Assignor
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  


  
	
  
 
  	
  
Signature Guaranteed
  




A-7-1-8









DISTRIBUTION INSTRUCTIONS


                    The Assignee should include the following for purposes of distribution:


                    Distributions shall, if permitted, be made by wire transfer or otherwise, in immediately available funds, to _____________________________ for the account of _______________.


                    Distributions made by check (such check to be made payable to _____________________) and all applicable statements and notices should be mailed to _________________________.


                    This information is provided by ________________________________, the Assignee named above, or ____________________________________, as its agent.


A-7-1-9









EXHIBIT A-7-2


FORM OF CLASS A-1A CERTIFICATE


CLASS A-1A COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
 SERIES 2007-C31


evidencing a beneficial ownership interest in a trust fund (the “Trust Fund”) consisting primarily of a pool of multifamily and commercial mortgage loans (the “Mortgage Loans”), such pool being formed and sold by


WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

	
  
Pass-Through   Rate:  5.498% per annum
  	
  
 
  	
  
Class Principal   Balance of the Class A-1A Certificates as of the Closing Date:   $1,327,630,000
  
	
   
  	
  
 
  	
  
 
  
	
  
Date of   Pooling and Servicing Agreement: as of May 1, 2007
  	
  
 
  	
  
Initial   Certificate Principal Balance of this Class A-1A Certificate as of the   Closing Date: $500,000,000
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Closing   Date:  May 23, 2007
  	
  
 
  	
  
Aggregate   Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date:   $5,845,468,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  
First   Distribution Date:  June 15, 2007
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  Master   Servicer:  Wachovia Bank, National   Association
  	
  
 
  	
  
Trustee:   Wells Fargo Bank, N.A.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Special   Servicer:  LNR Partners, Inc.
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Certificate   No.  A-1A-2
  	
  
 
  	
  
CUSIP No.
  




UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION (“DTC”), TO THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.


A-7-2-1









THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS, INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.  NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.


SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT” (A “REMIC”) AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986 (THE “CODE”).


DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE MADE MONTHLY AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.  IN ADDITION, IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-M, CLASS A-J, CLASS B, CLASS C, CLASS D, CLASS E, CLASS F, CLASS G, CLASS H, CLASS J, CLASS K, CLASS L, CLASS M, CLASS N, CLASS O, CLASS P, CLASS Q, CLASS S, CLASS T AND CLASS U CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE, THE CLASS A-1 CERTIFICATES, THE CLASS A-2 CERTIFICATES, THE CLASS A-3  CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-5 CERTIFICATES AND THE CLASS A-5FL REGULAR INTEREST MAY BE REDUCED BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE AGREEMENT REFERRED TO HEREIN. 
ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.


                    This certifies that Cede & Co. is the registered owner of the Percentage Interest evidenced by this Class A-1A Certificate (obtained by dividing the principal amount of this Class A-1A Certificate (its “Certificate Principal Balance”) as of the Closing Date by the aggregate principal amount of all the Class A-1A Certificates (their “Class Principal Balance”) as of the Closing Date) in that certain beneficial ownership interest evidenced by all the Class A-1A Certificates in the Trust Fund created pursuant to a Pooling and Servicing Agreement, dated as specified above (the “Agreement”), among Wachovia Commercial Mortgage Securities, Inc. (herein called the “Depositor”, which term includes any successor entity under the Agreement),
Wachovia Bank, National Association (herein called the “Master Servicer”, which term includes any successor entity under the Agreement), LNR Partners, Inc. (herein called the “Special Servicer”, which term includes any successor entity under the Agreement) and Wells Fargo Bank, N.A. (herein called the “Trustee”), which term includes any successor entity under the Agreement), a summary of certain of the pertinent provisions of which 


A-7-2-2









is set forth hereafter.  To the extent not defined herein, the capitalized terms used herein have the respective meanings assigned in the Agreement.  This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound.


                    Pursuant to the terms of the Agreement, distributions will be made on the fourth Business Day following the related Determination Date (each, a “Distribution Date”).  The Determination Date is the 11th day of each month or, if such 11th day is not a Business Day, the Business Day immediately succeeding, commencing in June 2007 (each, a “Determination Date”).  Distributions will be made commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the last Business Day of the month immediately preceding the month of such distribution (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount required to be distributed to the Holders of
the Class A-1A Certificates on the applicable Distribution Date pursuant to the Agreement.  All distributions made under the Agreement on the Class A-1A Certificates will be made by Wells Fargo Bank, N.A., as paying agent (the “Paying Agent”), by wire transfer of immediately available funds to the account of the Person entitled thereto at a bank or other entity having appropriate facilities therefor, if such Certificateholder shall have provided the Paying Agent with wiring instructions no less than five Business Days prior to the related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions), or otherwise by check mailed to the address of such Certificateholder as it appears in the Certificate Register.  Notwithstanding the foregoing, the final distribution on this Certificate (determined without regard to any possible future reimbursement of any Realized Loss or Additional Trust Fund Expense
previously allocated to this Certificate) will be made in like manner, but only upon presentation and surrender of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to the Holder hereof of such final distribution.  Also notwithstanding the foregoing, any distribution that may be made with respect to this Certificate in reimbursement of any Realized Loss or Additional Trust Fund Expense previously allocated to this Certificate, which reimbursement is to occur after the date on which this Certificate is surrendered as contemplated by the preceding sentence, will be made by check mailed to the address of the Holder that surrenders this Certificate as such address last appears in the Certificate Register or to any such other address of which the Paying Agent is subsequently notified in writing.


                    The Certificates are limited in right of distribution to certain collections and recoveries respecting the Mortgage Loans and REO Loans, all as more specifically set forth herein and in the Agreement.  As provided in the Agreement, withdrawals from the Certificate Account, the Distribution Account and, if established, the REO Account may be made from time to time for purposes other than, and, in certain cases, prior to, distributions to Certificateholders, such purposes including the reimbursement of Advances made, or certain expenses incurred, with respect to the Mortgage Loans and the payment of interest on such Advances and expenses.


                    Interest accrued on this Certificate during an Interest Accrual Period, plus any unpaid interest shortfall with respect to this Certificate for any prior Distribution Date, if any, will be payable on the related Distribution Date to the extent provided in the Agreement.  The “Interest Accrual Period” with respect to any Distribution Date and with respect to the Class A-1A Certificates is the calendar month preceding the month in which such Distribution Date occurs and is assumed to consist of 30 days.


A-7-2-3









                    Any distribution to the Holder of this Certificate in reduction of the Certificate Principal Balance hereof is binding on such Holder and all future Holders of this Certificate and any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such distribution is made upon this Certificate.


                    The Class A-1A Certificates are issuable in fully registered form only without coupons in minimum denominations specified in the Agreement.  As provided in the Agreement and subject to certain limitations therein set forth, the Class A-1A Certificates are exchangeable for new Class A-1A Certificates in authorized denominations evidencing the same aggregate Percentage Interest, as requested by the Holder surrendering the same.


                    As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices of the Certificate Registrar, duly endorsed by, or accompanied by a written instrument of transfer in the form satisfactory to the Certificate Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Class A-1A Certificates in authorized denominations evidencing the same aggregate Percentage Interest will be issued to the designated transferee or transferees.


                    No service charge will be imposed for any registration of transfer or exchange of Class A-1A Certificates, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of Class A-1A Certificates.


                    Notwithstanding the foregoing, for so long as this Certificate is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC, transfers of interests in this Certificate shall be made through the book-entry facilities of DTC.


                    The Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent and the Certificate Registrar and any agent of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes whatsoever and none of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent, the Certificate Registrar or any such agent shall be affected by notice to the contrary.


                    The Trust Fund and the obligations created by the Agreement shall terminate upon distribution (or provision for distribution) to the Certificateholders of all amounts held by or on behalf of the Trustee and required to be distributed to them pursuant to the Agreement following the earlier to occur of (i) the final payment (or any advance with respect thereto) or other liquidation of the last Mortgage Loan or REO Property remaining in the Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder at a price determined as provided in the Agreement of all Mortgage Loans and each REO Property remaining in the Trust Fund.  The Agreement permits, but does not require, 


A-7-2-4









the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder to purchase from the Trust Fund all Mortgage Loans and each REO Property remaining therein.  The exercise of such right will effect early retirement of the Class A-1A Certificates; however, such right to purchase is subject to the aggregate Stated Principal Balance of the Mortgage Pool at the time of purchase being less than 1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date specified on the face hereof.


                    In addition, any exchange by any Certificateholder of all of the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund may be made:  (i) if the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) are held by a single Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-5, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D, Class E, Class F Certificates and Class A-5FL Regular Interest have been paid in full.


                    The Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and obligations of the Depositor, the Master Servicer, the Special Servicer and the Trustee and the rights of the Certificateholders under the Agreement at any time by the Depositor, the Master Servicer, the Special Servicer and the Trustee with the consent of the Holders of Certificates entitled to at least 51% of the Voting Rights allocated to the affected Classes.  Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon this Certificate.  The Agreement also permits the
amendment thereof, in certain limited circumstances, including any amendment necessary to maintain the status of the Trust Fund (or designated portions thereof) as consisting of two separate REMICs and one grantor trust, without the consent of the Holders of any of the Certificates.


                    Unless the certificate of authentication hereon has been executed by the Certificate Registrar, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.


                    The registered Holder hereof, by its acceptance hereof, agrees that it will look solely to the Trust Fund (to the extent of its rights therein) for distributions hereunder.


                    This Certificate shall be construed in accordance with the internal laws of the State of New York applicable to agreements made and to be performed in said State, and the obligations, rights and remedies of the Holder hereof shall be determined in accordance with such laws.


A-7-2-5









                    IN WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed.


Dated:  May 23, 2007

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Certificate Registrar
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
   
  	
  
 
  	
  
Authorized   Representative
  




A-7-2-6









CERTIFICATE OF AUTHENTICATION


                    This is one of the Class A-1A Certificates referred to in the within-mentioned Agreement.

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Authenticating Agent
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
   
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-7-2-7









ASSIGNMENT


                    FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto ________________________________________________________ (please print or typewrite name and address including postal zip code of assignee) the beneficial ownership interest in the Trust Fund evidenced by the within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the registration of transfer of such interest to assignee on the Certificate Register of the Trust Fund.


                    I (we) further direct the Certificate Registrar to issue a new Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and Class to the above named assignee and deliver such Commercial Mortgage Pass-Through Certificate to the following address:  __________________________________________________.


Dated:  _________________________

	
   
  	
  


  
	
  
 
  	
  
Signature by or on behalf of Assignor
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  


  
	
  
 
  	
  
Signature Guaranteed
  




A-7-2-8









DISTRIBUTION INSTRUCTIONS


                    The Assignee should include the following for purposes of distribution:


                    Distributions shall, if permitted, be made by wire transfer or otherwise, in immediately available funds, to _____________________________ for the account of _______________.


                    Distributions made by check (such check to be made payable to _____________________) and all applicable statements and notices should be mailed to _________________________.


                    This information is provided by ________________________________, the Assignee named above, or ____________________________________, as its agent.


A-7-2-9









EXHIBIT A-7-3


FORM OF CLASS A-1A CERTIFICATE


CLASS A-1A COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
 SERIES 2007-C31


evidencing a beneficial ownership interest in a trust fund (the “Trust Fund”) consisting primarily of a pool of multifamily and commercial mortgage loans (the “Mortgage Loans”), such pool being formed and sold by


WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

	
  
Pass-Through   Rate:  5.498% per annum
  	
  
 
  	
  
Class Principal   Balance of the Class A-1A Certificates as of the Closing Date:   $1,327,630,000
  
	
   
  	
  
 
  	
  
 
  
	
  
Date of   Pooling and Servicing Agreement: as of May 1, 2007
  	
  
 
  	
  
Initial   Certificate Principal Balance of this Class A-1A Certificate as of the   Closing Date: $327,630,000
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Closing   Date:  May 23, 2007
  	
  
 
  	
  
Aggregate   Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date:   $5,845,468,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  
First   Distribution Date:  June 15, 2007
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  Master   Servicer:  Wachovia Bank, National   Association
  	
  
 
  	
  
Trustee: Wells   Fargo Bank, N.A.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Special   Servicer:  LNR Partners, Inc.
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Certificate   No.  A-1A-3
  	
  
 
  	
  
CUSIP No.
  




UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION (“DTC”), TO THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.


A-7-3-1









THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS, INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.  NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.


SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT” (A “REMIC”) AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986 (THE “CODE”).


DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE MADE MONTHLY AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.  IN ADDITION, IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-M, CLASS A-J, CLASS B, CLASS C, CLASS D, CLASS E, CLASS F, CLASS G, CLASS H, CLASS J, CLASS K, CLASS L, CLASS M, CLASS N, CLASS O, CLASS P, CLASS Q, CLASS S, CLASS T AND CLASS U CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE, THE CLASS A-1 CERTIFICATES, THE CLASS A-2 CERTIFICATES, THE CLASS A-3  CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-5 CERTIFICATES AND THE CLASS A-5FL REGULAR INTEREST MAY BE REDUCED BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE AGREEMENT REFERRED TO HEREIN. 
ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.


                    This certifies that Cede & Co. is the registered owner of the Percentage Interest evidenced by this Class A-1A Certificate (obtained by dividing the principal amount of this Class A-1A Certificate (its “Certificate Principal Balance”) as of the Closing Date by the aggregate principal amount of all the Class A-1A Certificates (their “Class Principal Balance”) as of the Closing Date) in that certain beneficial ownership interest evidenced by all the Class A-1A Certificates in the Trust Fund created pursuant to a Pooling and Servicing Agreement, dated as specified above (the “Agreement”), among Wachovia Commercial Mortgage Securities, Inc. (herein called the “Depositor”, which term includes any successor entity under the Agreement),
Wachovia Bank, National Association (herein called the “Master Servicer”, which term includes any successor entity under the Agreement), LNR Partners, Inc. (herein called the “Special Servicer”, which term includes any successor entity under the Agreement) and Wells Fargo Bank, N.A. (herein called the “Trustee”), which term includes any successor entity under the Agreement), a summary of certain of the pertinent provisions of which is set forth hereafter.  To the extent not defined herein, the capitalized terms used herein have the respective meanings assigned in the Agreement.  This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound.


A-7-3-2









                    Pursuant to the terms of the Agreement, distributions will be made on the fourth Business Day following the related Determination Date (each, a “Distribution Date”).  The Determination Date is the 11th day of each month or, if such 11th day is not a Business Day, the Business Day immediately succeeding, commencing in June 2007 (each, a “Determination Date”).  Distributions will be made commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the last Business Day of the month immediately preceding the month of such distribution (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount required to be distributed to the Holders of
the Class A-1A Certificates on the applicable Distribution Date pursuant to the Agreement.  All distributions made under the Agreement on the Class A-1A Certificates will be made by Wells Fargo Bank, N.A., as paying agent (the “Paying Agent”), by wire transfer of immediately available funds to the account of the Person entitled thereto at a bank or other entity having appropriate facilities therefor, if such Certificateholder shall have provided the Paying Agent with wiring instructions no less than five Business Days prior to the related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions), or otherwise by check mailed to the address of such Certificateholder as it appears in the Certificate Register.  Notwithstanding the foregoing, the final distribution on this Certificate (determined without regard to any possible future reimbursement of any Realized Loss or Additional Trust Fund Expense
previously allocated to this Certificate) will be made in like manner, but only upon presentation and surrender of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to the Holder hereof of such final distribution.  Also notwithstanding the foregoing, any distribution that may be made with respect to this Certificate in reimbursement of any Realized Loss or Additional Trust Fund Expense previously allocated to this Certificate, which reimbursement is to occur after the date on which this Certificate is surrendered as contemplated by the preceding sentence, will be made by check mailed to the address of the Holder that surrenders this Certificate as such address last appears in the Certificate Register or to any such other address of which the Paying Agent is subsequently notified in writing.


                    The Certificates are limited in right of distribution to certain collections and recoveries respecting the Mortgage Loans and REO Loans, all as more specifically set forth herein and in the Agreement.  As provided in the Agreement, withdrawals from the Certificate Account, the Distribution Account and, if established, the REO Account may be made from time to time for purposes other than, and, in certain cases, prior to, distributions to Certificateholders, such purposes including the reimbursement of Advances made, or certain expenses incurred, with respect to the Mortgage Loans and the payment of interest on such Advances and expenses.


                    Interest accrued on this Certificate during an Interest Accrual Period, plus any unpaid interest shortfall with respect to this Certificate for any prior Distribution Date, if any, will be payable on the related Distribution Date to the extent provided in the Agreement.  The “Interest Accrual Period” with respect to any Distribution Date and with respect to the Class A-1A Certificates is the calendar month preceding the month in which such Distribution Date occurs and is assumed to consist of 30 days.


A-7-3-3









                    Any distribution to the Holder of this Certificate in reduction of the Certificate Principal Balance hereof is binding on such Holder and all future Holders of this Certificate and any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such distribution is made upon this Certificate.


                    The Class A-1A Certificates are issuable in fully registered form only without coupons in minimum denominations specified in the Agreement.  As provided in the Agreement and subject to certain limitations therein set forth, the Class A-1A Certificates are exchangeable for new Class A-1A Certificates in authorized denominations evidencing the same aggregate Percentage Interest, as requested by the Holder surrendering the same.


                    As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices of the Certificate Registrar, duly endorsed by, or accompanied by a written instrument of transfer in the form satisfactory to the Certificate Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Class A-1A Certificates in authorized denominations evidencing the same aggregate Percentage Interest will be issued to the designated transferee or transferees.


                    No service charge will be imposed for any registration of transfer or exchange of Class A-1A Certificates, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of Class A-1A Certificates.


                    Notwithstanding the foregoing, for so long as this Certificate is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC, transfers of interests in this Certificate shall be made through the book-entry facilities of DTC.


                    The Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent and the Certificate Registrar and any agent of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes whatsoever and none of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent, the Certificate Registrar or any such agent shall be affected by notice to the contrary.


                    The Trust Fund and the obligations created by the Agreement shall terminate upon distribution (or provision for distribution) to the Certificateholders of all amounts held by or on behalf of the Trustee and required to be distributed to them pursuant to the Agreement following the earlier to occur of (i) the final payment (or any advance with respect thereto) or other liquidation of the last Mortgage Loan or REO Property remaining in the Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder at a price determined as provided in the Agreement of all Mortgage Loans and each REO Property remaining in the Trust Fund.  The Agreement permits, but does not require, the Master Servicer, the Special Servicer or the Majority Subordinate
Certificateholder to purchase from the Trust Fund all Mortgage Loans and each REO Property remaining therein.  The exercise of such right will effect early retirement of the Class A-1A Certificates; however, 


A-7-3-4









such right to purchase is subject to the aggregate Stated Principal Balance of the Mortgage Pool at the time of purchase being less than 1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date specified on the face hereof.


                    In addition, any exchange by any Certificateholder of all of the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund may be made:  (i) if the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) are held by a single Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-5, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D, Class E, Class F Certificates and Class A-5FL Regular Interest have been paid in full.


                    The Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and obligations of the Depositor, the Master Servicer, the Special Servicer and the Trustee and the rights of the Certificateholders under the Agreement at any time by the Depositor, the Master Servicer, the Special Servicer and the Trustee with the consent of the Holders of Certificates entitled to at least 51% of the Voting Rights allocated to the affected Classes.  Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon this Certificate.  The Agreement also permits the
amendment thereof, in certain limited circumstances, including any amendment necessary to maintain the status of the Trust Fund (or designated portions thereof) as consisting of two separate REMICs and one grantor trust, without the consent of the Holders of any of the Certificates.


                    Unless the certificate of authentication hereon has been executed by the Certificate Registrar, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.


                    The registered Holder hereof, by its acceptance hereof, agrees that it will look solely to the Trust Fund (to the extent of its rights therein) for distributions hereunder.


                    This Certificate shall be construed in accordance with the internal laws of the State of New York applicable to agreements made and to be performed in said State, and the obligations, rights and remedies of the Holder hereof shall be determined in accordance with such laws.


A-7-3-5









                    IN WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed.


Dated:  May 23, 2007

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Certificate Registrar
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
   
  	
  
 
  	
  
Authorized   Representative
  




A-7-3-6









CERTIFICATE OF AUTHENTICATION


                    This is one of the Class A-1A Certificates referred to in the within-mentioned Agreement.

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Authenticating Agent
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
   
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-7-3-7









ASSIGNMENT


                    FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto ________________________________________________________ (please print or typewrite name and address including postal zip code of assignee) the beneficial ownership interest in the Trust Fund evidenced by the within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the registration of transfer of such interest to assignee on the Certificate Register of the Trust Fund.


                    I (we) further direct the Certificate Registrar to issue a new Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and Class to the above named assignee and deliver such Commercial Mortgage Pass-Through Certificate to the following address:  __________________________________________________.


Dated:  _________________________

	
   
  	
  


  
	
  
 
  	
  
Signature by or on behalf of Assignor
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  


  
	
  
 
  	
  
Signature Guaranteed
  




A-7-3-8









DISTRIBUTION INSTRUCTIONS


                    The Assignee should include the following for purposes of distribution:


                    Distributions shall, if permitted, be made by wire transfer or otherwise, in immediately available funds, to _____________________________ for the account of _______________.


                    Distributions made by check (such check to be made payable to _____________________) and all applicable statements and notices should be mailed to _________________________.


                    This information is provided by ________________________________, the Assignee named above, or ____________________________________, as its agent.


A-7-3-9









EXHIBIT A-8-1


FORM OF CLASS A-M CERTIFICATE


CLASS A-M COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
 SERIES 2007-C31


evidencing a beneficial ownership interest in a trust fund (the “Trust Fund”) consisting primarily of a pool of multifamily and commercial mortgage loans (the “Mortgage Loans”), such pool being formed and sold by


WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

	
  
Pass-Through   Rate:  5.591% per annum
  	
  
 
  	
  
Class Principal   Balance of the Class A-M Certificates as of the Closing Date:   $584,547,000
  
	
   
  	
  
 
  	
  
 
  
	
  
Date of   Pooling and Servicing Agreement: as of May 1, 2007
  	
  
 
  	
  
Initial   Certificate Principal Balance of this Class A-M Certificate as of the   Closing Date: $500,000,000
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Closing   Date:  May 23, 2007
  	
  
 
  	
  
Aggregate   Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date:   $5,845,468,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  
First   Distribution Date:  June 15, 2007
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  Master   Servicer:  Wachovia Bank, National   Association
  	
  
 
  	
  
Trustee:   Wells Fargo Bank, N.A.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Special   Servicer:  LNR Partners, Inc.
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Certificate   No.  A-M-1
  	
  
 
  	
  
CUSIP No.
  




UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION (“DTC”), TO THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.


A-8-1-1









THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS, INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.  NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.


SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT” (A “REMIC”) AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986 (THE “CODE”).


THIS CERTIFICATE IS SUBORDINATE TO THE CLASS A-1 CERTIFICATES, THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-5 CERTIFICATES, THE CLASS A-1A CERTIFICATES AND THE CLASS A-5FL REGULAR INTEREST OF THE SAME SERIES TO THE EXTENT DESCRIBED IN THE AGREEMENT REFERRED TO HEREIN.


IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-1 CERTIFICATES, THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-5 CERTIFICATES, THE CLASS A-1A CERTIFICATES AND THE CLASS A-5FL REGULAR INTEREST OF THE SAME SERIES IS REDUCED TO ZERO, DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE MADE MONTHLY AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.  IN ADDITION, IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-J, CLASS B, CLASS C, CLASS D, CLASS E, CLASS F, CLASS G, CLASS H, CLASS J, CLASS K, CLASS L, CLASS M, CLASS N, CLASS O, CLASS P, CLASS Q, CLASS S, CLASS T AND CLASS U CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE REDUCED BY CERTAIN LOSSES AND EXPENSES
EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE AGREEMENT REFERRED TO HEREIN.  ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.


                    This certifies that Cede & Co. is the registered owner of the Percentage Interest evidenced by this Class A-M Certificate (obtained by dividing the principal amount of this Class A-M Certificate (its “Certificate Principal Balance”) as of the Closing Date by the aggregate principal amount of all the Class A-M Certificates (their “Class Principal Balance”) as of the Closing Date) in that certain beneficial ownership interest evidenced by all the Class A-M Certificates in the Trust Fund created pursuant to a Pooling and Servicing Agreement, dated as specified above (the “Agreement”), among Wachovia Commercial Mortgage Securities, Inc. 


A-8-1-2









(herein called the “Depositor”, which term includes any successor entity under the Agreement), Wachovia Bank, National Association (herein called the “Master Servicer”, which term includes any successor entity under the Agreement), LNR Partners, Inc. (herein called the “Special Servicer”, which term includes any successor entity under the Agreement) and Wells Fargo Bank, N.A. (herein called the “Trustee”, which term includes any successor entity under the Agreement), a summary of certain of the pertinent provisions of which is set forth hereafter.  To the extent not defined herein, the capitalized terms used herein have the respective meanings assigned in the Agreement.  This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such
Holder is bound.


                    Pursuant to the terms of the Agreement, distributions will be made on the fourth Business Day following the related Determination Date (each, a “Distribution Date”).  The Determination Date is the 11th day of each month or, if such 11th day is not a Business Day, the Business Day immediately succeeding, commencing in June 2007 (each, a “Determination Date”).  Distributions will be made commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the last Business Day of the month immediately preceding the month of such distribution (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount required to be distributed to the Holders of
the Class A-M Certificates on the applicable Distribution Date pursuant to the Agreement.  All distributions made under the Agreement on the Class A-M Certificates will be made by Wells Fargo Bank, N.A., as paying agent (the “Paying Agent”), by wire transfer of immediately available funds to the account of the Person entitled thereto at a bank or other entity having appropriate facilities therefor, if such Certificateholder shall have provided the Paying Agent with wiring instructions no less than five Business Days prior to the related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions), or otherwise by check mailed to the address of such Certificateholder as it appears in the Certificate Register.  Notwithstanding the foregoing, the final distribution on this Certificate (determined without regard to any possible future reimbursement of any Realized Loss or Additional Trust Fund Expense
previously allocated to this Certificate) will be made in like manner, but only upon presentation and surrender of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to the Holder hereof of such final distribution.  Also notwithstanding the foregoing, any distribution that may be made with respect to this Certificate in reimbursement of any Realized Loss or Additional Trust Fund Expense previously allocated to this Certificate, which reimbursement is to occur after the date on which this Certificate is surrendered as contemplated by the preceding sentence, will be made by check mailed to the address of the Holder that surrenders this Certificate as such address last appears in the Certificate Register or to any such other address of which the Paying Agent is subsequently notified in writing.


                    The Certificates are limited in right of distribution to certain collections and recoveries respecting the Mortgage Loans and REO Loans, all as more specifically set forth herein and in the Agreement.  As provided in the Agreement, withdrawals from the Certificate Account, the Distribution Account and, if established, the REO Account may be made from time to time for purposes other than, and, in certain cases, prior to, distributions to Certificateholders, such purposes including the reimbursement of Advances made, or certain expenses incurred, with respect to the Mortgage Loans and the payment of interest on such Advances and expenses.


A-8-1-3









                    Interest accrued on this Certificate during an Interest Accrual Period, plus any unpaid interest shortfall with respect to this Certificate for any prior Distribution Date, if any, will be payable on the related Distribution Date to the extent provided in the Agreement.  The “Interest Accrual Period” with respect to any Distribution Date and with respect to the Class A-M Certificates is the calendar month preceding the month in which such Distribution Date occurs and is assumed to consist of 30 days.


                    Any distribution to the Holder of this Certificate in reduction of the Certificate Principal Balance hereof is binding on such Holder and all future Holders of this Certificate and any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such distribution is made upon this Certificate.


                    The Class A-M Certificates are issuable in fully registered form only without coupons in minimum denominations specified in the Agreement.  As provided in the Agreement and subject to certain limitations therein set forth, the Class A-M Certificates are exchangeable for new Class A-M Certificates in authorized denominations evidencing the same aggregate Percentage Interest, as requested by the Holder surrendering the same.


                    As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices of the Certificate Registrar, duly endorsed by, or accompanied by a written instrument of transfer in the form satisfactory to the Certificate Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Class A-M Certificates in authorized denominations evidencing the same aggregate Percentage Interest will be issued to the designated transferee or transferees.


                    No service charge will be imposed for any registration of transfer or exchange of Class A-M Certificates, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of Class A-M Certificates.


                    Notwithstanding the foregoing, for so long as this Certificate is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC, transfers of interests in this Certificate shall be made through the book-entry facilities of DTC.


                    The Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent and the Certificate Registrar and any agent of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes whatsoever and none of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent, the Certificate Registrar or any such agent shall be affected by notice to the contrary.


                    The Trust Fund and the obligations created by the Agreement shall terminate upon distribution (or provision for distribution) to the Certificateholders of all amounts held by or on behalf of the Trustee and required to be distributed to them pursuant to the Agreement following the earlier to occur of (i) the final payment (or any advance with respect thereto) or 


A-8-1-4









other liquidation of the last Mortgage Loan or REO Property remaining in the Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder at a price determined as provided in the Agreement of all Mortgage Loans and each REO Property remaining in the Trust Fund.  The Agreement permits, but does not require, the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder to purchase from the Trust Fund all Mortgage Loans and each REO Property remaining therein.  The exercise of such right will effect early retirement of the Class A-M Certificates; however, such right to purchase is subject to the aggregate Stated Principal Balance of the Mortgage Pool at the time of purchase being less than 1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date specified on the face hereof.


                    In addition, any exchange by any Certificateholder of all of the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund may be made:  (i) if the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) are held by a single Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-5, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D, Class E, Class F Certificates and Class A-5FL Regular Interest have been paid in full.


                    The Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and obligations of the Depositor, the Master Servicer, the Special Servicer and the Trustee and the rights of the Certificateholders under the Agreement at any time by the Depositor, the Master Servicer, the Special Servicer and the Trustee with the consent of the Holders of Certificates entitled to at least 51% of the Voting Rights allocated to the affected Classes.  Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon this Certificate.  The Agreement also permits the
amendment thereof, in certain limited circumstances, including any amendment necessary to maintain the status of the Trust Fund (or designated portions thereof) as consisting of two separate REMICs and one grantor trust, without the consent of the Holders of any of the Certificates.


                    Unless the certificate of authentication hereon has been executed by the Certificate Registrar, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.


                    The registered Holder hereof, by its acceptance hereof, agrees that it will look solely to the Trust Fund (to the extent of its rights therein) for distributions hereunder.


                    This Certificate shall be construed in accordance with the internal laws of the State of New York applicable to agreements made and to be performed in said State, and the obligations, rights and remedies of the Holder hereof shall be determined in accordance with such laws.


A-8-1-5









                    IN WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed.


Dated:  May 23, 2007

	
  
 
  	
  
Wells Fargo Bank,   N.A., as Certificate Registrar
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
   
  	
  
 
  	
  
Authorized   Representative
  




A-8-1-6









CERTIFICATE OF AUTHENTICATION


                    This is one of the Class A-M Certificates referred to in the within-mentioned Agreement.

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Authenticating Agent
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
   
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-8-1-7









ASSIGNMENT


                    FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto ________________________________________________________ (please print or typewrite name and address including postal zip code of assignee) the beneficial ownership interest in the Trust Fund evidenced by the within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the registration of transfer of such interest to assignee on the Certificate Register of the Trust Fund.


                    I (we) further direct the Certificate Registrar to issue a new Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and Class to the above named assignee and deliver such Commercial Mortgage Pass-Through Certificate to the following address:  __________________________________________________.


Dated:  _________________________

	
   
  	
  


  
	
  
 
  	
  
Signature by or on behalf of Assignor
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  


  
	
  
 
  	
  
Signature Guaranteed
  




A-8-1-8









DISTRIBUTION INSTRUCTIONS


                    The Assignee should include the following for purposes of distribution:


                    Distributions shall, if permitted, be made by wire transfer or otherwise, in immediately available funds, to _____________________________ for the account of _______________.


                    Distributions made by check (such check to be made payable to _____________________) and all applicable statements and notices should be mailed to _________________________.


                    This information is provided by ________________________________, the Assignee named above, or ____________________________________, as its agent.


A-8-1-9









EXHIBIT A-8-2


FORM OF CLASS A-M CERTIFICATE


CLASS A-M COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
 SERIES 2007-C31


evidencing a beneficial ownership interest in a trust fund (the “Trust Fund”) consisting primarily of a pool of multifamily and commercial mortgage loans (the “Mortgage Loans”), such pool being formed and sold by


WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

	
  
Pass-Through   Rate:  5.591% per annum
  	
  
 
  	
  
Class Principal   Balance of the Class A-M Certificates as of the Closing Date:   $584,547,000
  
	
   
  	
  
 
  	
  
 
  
	
  
Date of   Pooling and Servicing Agreement: as of May 1, 2007
  	
  
 
  	
  
Initial   Certificate Principal Balance of this Class A-M Certificate as of the   Closing Date: $84,547,000
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Closing   Date:  May 23, 2007
  	
  
 
  	
  
Aggregate   Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date:   $5,845,468,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  
First   Distribution Date:  June 15, 2007
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  Master   Servicer:  Wachovia Bank, National   Association
  	
  
 
  	
  
Trustee:   Wells Fargo Bank, N.A.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Special   Servicer:  LNR Partners, Inc.
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Certificate   No.  A-M-2
  	
  
 
  	
  
CUSIP No.
  




UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION (“DTC”), TO THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.


A-8-2-1









THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS, INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.  NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.


SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT” (A “REMIC”) AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986 (THE “CODE”).


THIS CERTIFICATE IS SUBORDINATE TO THE CLASS A-1 CERTIFICATES, THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-5 CERTIFICATES, CLASS A-1A CERTIFICATES AND THE CLASS A-5FL REGULAR INTEREST OF THE SAME SERIES TO THE EXTENT DESCRIBED IN THE AGREEMENT REFERRED TO HEREIN.


IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-1 CERTIFICATES, THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-5 CERTIFICATES, THE CLASS A-1A CERTIFICATES AND THE CLASS A-5FL REGULAR INTEREST OF THE SAME SERIES IS REDUCED TO ZERO, DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE MADE MONTHLY AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.  IN ADDITION, IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-J, CLASS B, CLASS C, CLASS D, CLASS E, CLASS F, CLASS G, CLASS H, CLASS J, CLASS K, CLASS L, CLASS M, CLASS N, CLASS O, CLASS P, CLASS Q, CLASS S, CLASS T AND CLASS U CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE REDUCED BY CERTAIN LOSSES AND EXPENSES
EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE AGREEMENT REFERRED TO HEREIN.  ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.


                    This certifies that Cede & Co. is the registered owner of the Percentage Interest evidenced by this Class A-M Certificate (obtained by dividing the principal amount of this Class A-M Certificate (its “Certificate Principal Balance”) as of the Closing Date by the aggregate principal amount of all the Class A-M Certificates (their “Class Principal Balance”) as of the Closing Date) in that certain beneficial ownership interest evidenced by all the Class A-M Certificates in the Trust Fund created pursuant to a Pooling and Servicing Agreement, dated as specified above (the “Agreement”), among Wachovia Commercial Mortgage Securities, Inc. 


A-8-2-2









(herein called the “Depositor”, which term includes any successor entity under the Agreement), Wachovia Bank, National Association (herein called the “Master Servicer”, which term includes any successor entity under the Agreement), LNR Partners, Inc. (herein called the “Special Servicer”, which term includes any successor entity under the Agreement) and Wells Fargo Bank, N.A. (herein called the “Trustee”, which term includes any successor entity under the Agreement), a summary of certain of the pertinent provisions of which is set forth hereafter.  To the extent not defined herein, the capitalized terms used herein have the respective meanings assigned in the Agreement.  This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such
Holder is bound.


                    Pursuant to the terms of the Agreement, distributions will be made on the fourth Business Day following the related Determination Date (each, a “Distribution Date”).  The Determination Date is the 11th day of each month or, if such 11th day is not a Business Day, the Business Day immediately succeeding, commencing in June 2007 (each, a “Determination Date”).  Distributions will be made commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the last Business Day of the month immediately preceding the month of such distribution (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount required to be distributed to the Holders of
the Class A-M Certificates on the applicable Distribution Date pursuant to the Agreement.  All distributions made under the Agreement on the Class A-M Certificates will be made by Wells Fargo Bank, N.A., as paying agent (the “Paying Agent”), by wire transfer of immediately available funds to the account of the Person entitled thereto at a bank or other entity having appropriate facilities therefor, if such Certificateholder shall have provided the Paying Agent with wiring instructions no less than five Business Days prior to the related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions), or otherwise by check mailed to the address of such Certificateholder as it appears in the Certificate Register.  Notwithstanding the foregoing, the final distribution on this Certificate (determined without regard to any possible future reimbursement of any Realized Loss or Additional Trust Fund Expense
previously allocated to this Certificate) will be made in like manner, but only upon presentation and surrender of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to the Holder hereof of such final distribution.  Also notwithstanding the foregoing, any distribution that may be made with respect to this Certificate in reimbursement of any Realized Loss or Additional Trust Fund Expense previously allocated to this Certificate, which reimbursement is to occur after the date on which this Certificate is surrendered as contemplated by the preceding sentence, will be made by check mailed to the address of the Holder that surrenders this Certificate as such address last appears in the Certificate Register or to any such other address of which the Paying Agent is subsequently notified in writing.


                    The Certificates are limited in right of distribution to certain collections and recoveries respecting the Mortgage Loans and REO Loans, all as more specifically set forth herein and in the Agreement.  As provided in the Agreement, withdrawals from the Certificate Account, the Distribution Account and, if established, the REO Account may be made from time to time for purposes other than, and, in certain cases, prior to, distributions to Certificateholders, such purposes including the reimbursement of Advances made, or certain expenses incurred, with respect to the Mortgage Loans and the payment of interest on such Advances and expenses.


A-8-2-3









                    Interest accrued on this Certificate during an Interest Accrual Period, plus any unpaid interest shortfall with respect to this Certificate for any prior Distribution Date, if any, will be payable on the related Distribution Date to the extent provided in the Agreement.  The “Interest Accrual Period” with respect to any Distribution Date and with respect to the Class A-M Certificates is the calendar month preceding the month in which such Distribution Date occurs and is assumed to consist of 30 days.


                    Any distribution to the Holder of this Certificate in reduction of the Certificate Principal Balance hereof is binding on such Holder and all future Holders of this Certificate and any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such distribution is made upon this Certificate.


                    The Class A-M Certificates are issuable in fully registered form only without coupons in minimum denominations specified in the Agreement.  As provided in the Agreement and subject to certain limitations therein set forth, the Class A-M Certificates are exchangeable for new Class A-M Certificates in authorized denominations evidencing the same aggregate Percentage Interest, as requested by the Holder surrendering the same.


                    As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices of the Certificate Registrar, duly endorsed by, or accompanied by a written instrument of transfer in the form satisfactory to the Certificate Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Class A-M Certificates in authorized denominations evidencing the same aggregate Percentage Interest will be issued to the designated transferee or transferees.


                    No service charge will be imposed for any registration of transfer or exchange of Class A-M Certificates, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of Class A-M Certificates.


                    Notwithstanding the foregoing, for so long as this Certificate is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC, transfers of interests in this Certificate shall be made through the book-entry facilities of DTC.


                    The Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent and the Certificate Registrar and any agent of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes whatsoever and none of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent, the Certificate Registrar or any such agent shall be affected by notice to the contrary.


                    The Trust Fund and the obligations created by the Agreement shall terminate upon distribution (or provision for distribution) to the Certificateholders of all amounts held by or on behalf of the Trustee and required to be distributed to them pursuant to the Agreement following the earlier to occur of (i) the final payment (or any advance with respect thereto) or 


A-8-2-4









other liquidation of the last Mortgage Loan or REO Property remaining in the Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder at a price determined as provided in the Agreement of all Mortgage Loans and each REO Property remaining in the Trust Fund.  The Agreement permits, but does not require, the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder to purchase from the Trust Fund all Mortgage Loans and each REO Property remaining therein.  The exercise of such right will effect early retirement of the Class A-M Certificates; however, such right to purchase is subject to the aggregate Stated Principal Balance of the Mortgage Pool at the time of purchase being less than 1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date specified on the face hereof.


                    In addition, any exchange by any Certificateholder of all of the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund may be made:  (i) if the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) are held by a single Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-5, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D, Class E, Class F Certificates and Class A-5FL Regular Interest have been paid in full.


                    The Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and obligations of the Depositor, the Master Servicer, the Special Servicer and the Trustee and the rights of the Certificateholders under the Agreement at any time by the Depositor, the Master Servicer, the Special Servicer and the Trustee with the consent of the Holders of Certificates entitled to at least 51% of the Voting Rights allocated to the affected Classes.  Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon this Certificate.  The Agreement also permits the
amendment thereof, in certain limited circumstances, including any amendment necessary to maintain the status of the Trust Fund (or designated portions thereof) as consisting of two separate REMICs and one grantor trust, without the consent of the Holders of any of the Certificates.


                    Unless the certificate of authentication hereon has been executed by the Certificate Registrar, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.


                    The registered Holder hereof, by its acceptance hereof, agrees that it will look solely to the Trust Fund (to the extent of its rights therein) for distributions hereunder.


                    This Certificate shall be construed in accordance with the internal laws of the State of New York applicable to agreements made and to be performed in said State, and the obligations, rights and remedies of the Holder hereof shall be determined in accordance with such laws.


A-8-2-5









                    IN WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed.


Dated:  May 23, 2007

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Certificate Registrar
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
   
  	
  
 
  	
  
Authorized   Representative
  




A-8-2-6









CERTIFICATE OF AUTHENTICATION


                    This is one of the Class A-M Certificates referred to in the within-mentioned Agreement.

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Authenticating Agent
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
   
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-8-2-7









ASSIGNMENT


                    FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto ________________________________________________________ (please print or typewrite name and address including postal zip code of assignee) the beneficial ownership interest in the Trust Fund evidenced by the within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the registration of transfer of such interest to assignee on the Certificate Register of the Trust Fund.


                    I (we) further direct the Certificate Registrar to issue a new Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and Class to the above named assignee and deliver such Commercial Mortgage Pass-Through Certificate to the following address:  __________________________________________________.


Dated:  _________________________

	
   
  	
  


  
	
  
 
  	
  
Signature by or on behalf of Assignor
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  


  
	
  
 
  	
  
Signature Guaranteed
  




A-8-2-8









DISTRIBUTION INSTRUCTIONS


                    The Assignee should include the following for purposes of distribution:


                    Distributions shall, if permitted, be made by wire transfer or otherwise, in immediately available funds, to _____________________________ for the account of _______________.


                    Distributions made by check (such check to be made payable to _____________________) and all applicable statements and notices should be mailed to _________________________.


                    This information is provided by ________________________________, the Assignee named above, or ____________________________________, as its agent.


A-8-2-9









EXHIBIT A-9


FORM OF CLASS A-J CERTIFICATE


CLASS A-J COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
 SERIES 2007-C31


evidencing a beneficial ownership interest in a trust fund (the “Trust Fund”) consisting primarily of a pool of multifamily and commercial mortgage loans (the “Mortgage Loans”), such pool being formed and sold by


WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

	
  
Pass-Through   Rate:  5.660% per annum
  	
  
 
  	
  
Class Principal   Balance of the Class A-J Certificates as of the Closing Date:   $460,331,000
  
	
   
  	
  
 
  	
  
 
  
	
  
Date of   Pooling and Servicing Agreement: as of May 1, 2007
  	
  
 
  	
  
Initial   Certificate Principal Balance of this Class A-J Certificate as of the   Closing Date: $460,331,000
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Closing   Date:  May 23, 2007
  	
  
 
  	
  
Aggregate   Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date:   $5,845,468,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  
First   Distribution Date:  June 15, 2007
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  Master   Servicer:  Wachovia Bank, National   Association
  	
  
 
  	
  
Trustee:   Wells Fargo Bank, N.A.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Special   Servicer:  LNR Partners, Inc.
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Certificate   No.  A-J-1
  	
  
 
  	
  
CUSIP No.
  




UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION (“DTC”), TO THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.


A-9-1









THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS, INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.  NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.


SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT” (A “REMIC”) AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986 (THE “CODE”).


THIS CERTIFICATE IS SUBORDINATE TO THE CLASS A-1 CERTIFICATES, THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-5 CERTIFICATES, CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES AND THE CLASS A-5FL REGULAR INTEREST OF THE SAME SERIES TO THE EXTENT DESCRIBED IN THE AGREEMENT REFERRED TO HEREIN.


IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-1 CERTIFICATES, THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-5 CERTIFICATES, THE CLASS A-1A CERTIFICATES AND CLASS A-5FL REGULAR INTEREST OF THE SAME SERIES IS REDUCED TO ZERO, DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE MADE MONTHLY AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.  IN ADDITION, IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-M, CLASS B, CLASS C, CLASS D, CLASS E, CLASS F, CLASS G, CLASS H, CLASS J, CLASS K, CLASS L, CLASS M, CLASS N, CLASS O, CLASS P, CLASS Q, CLASS S, CLASS T AND CLASS U CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE REDUCED BY CERTAIN LOSSES AND EXPENSES
EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE AGREEMENT REFERRED TO HEREIN.  ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.


                    This certifies that Cede & Co. is the registered owner of the Percentage Interest evidenced by this Class A-J Certificate (obtained by dividing the principal amount of this Class A-J Certificate (its “Certificate Principal Balance”) as of the Closing Date by the aggregate principal amount of all the Class A-J Certificates (their “Class Principal Balance”) as of the Closing Date) in that certain beneficial ownership interest evidenced by all the Class A-J Certificates in the Trust Fund created pursuant to a Pooling and Servicing Agreement, dated as specified above (the “Agreement”), among Wachovia Commercial Mortgage Securities, Inc. 


A-9-2









(herein called the “Depositor”, which term includes any successor entity under the Agreement), Wachovia Bank, National Association (herein called the “Master Servicer”, which term includes any successor entity under the Agreement), LNR Partners, Inc. (herein called the “Special Servicer”, which term includes any successor entity under the Agreement) and Wells Fargo Bank, N.A. (herein called the “Trustee”, which term includes any successor entity under the Agreement), a summary of certain of the pertinent provisions of which is set forth hereafter.  To the extent not defined herein, the capitalized terms used herein have the respective meanings assigned in the Agreement.  This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such
Holder is bound.


                    Pursuant to the terms of the Agreement, distributions will be made on the fourth Business Day following the related Determination Date (each, a “Distribution Date”).  The Determination Date is the 11th day of each month or, if such 11th day is not a Business Day, the Business Day immediately succeeding, commencing in June 2007 (each, a “Determination Date”).  Distributions will be made commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the last Business Day of the month immediately preceding the month of such distribution (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount required to be distributed to the Holders of
the Class A-J Certificates on the applicable Distribution Date pursuant to the Agreement.  All distributions made under the Agreement on the Class A-J Certificates will be made by Wells Fargo Bank, N.A., as paying agent (the “Paying Agent”), by wire transfer of immediately available funds to the account of the Person entitled thereto at a bank or other entity having appropriate facilities therefor, if such Certificateholder shall have provided the Paying Agent with wiring instructions no less than five Business Days prior to the related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions), or otherwise by check mailed to the address of such Certificateholder as it appears in the Certificate Register.  Notwithstanding the foregoing, the final distribution on this Certificate (determined without regard to any possible future reimbursement of any Realized Loss or Additional Trust Fund Expense
previously allocated to this Certificate) will be made in like manner, but only upon presentation and surrender of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to the Holder hereof of such final distribution.  Also notwithstanding the foregoing, any distribution that may be made with respect to this Certificate in reimbursement of any Realized Loss or Additional Trust Fund Expense previously allocated to this Certificate, which reimbursement is to occur after the date on which this Certificate is surrendered as contemplated by the preceding sentence, will be made by check mailed to the address of the Holder that surrenders this Certificate as such address last appears in the Certificate Register or to any such other address of which the Paying Agent is subsequently notified in writing.


                    The Certificates are limited in right of distribution to certain collections and recoveries respecting the Mortgage Loans and REO Loans, all as more specifically set forth herein and in the Agreement.  As provided in the Agreement, withdrawals from the Certificate Account, the Distribution Account and, if established, the REO Account may be made from time to time for purposes other than, and, in certain cases, prior to, distributions to Certificateholders, such purposes including the reimbursement of Advances made, or certain expenses incurred, with respect to the Mortgage Loans and the payment of interest on such Advances and expenses.


A-9-3









                    Interest accrued on this Certificate during an Interest Accrual Period, plus any unpaid interest shortfall with respect to this Certificate for any prior Distribution Date, if any, will be payable on the related Distribution Date to the extent provided in the Agreement.  The “Interest Accrual Period” with respect to any Distribution Date and with respect to the Class A-J Certificates is the calendar month preceding the month in which such Distribution Date occurs and is assumed to consist of 30 days.


                    Any distribution to the Holder of this Certificate in reduction of the Certificate Principal Balance hereof is binding on such Holder and all future Holders of this Certificate and any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such distribution is made upon this Certificate.


                    The Class A-J Certificates are issuable in fully registered form only without coupons in minimum denominations specified in the Agreement.  As provided in the Agreement and subject to certain limitations therein set forth, the Class A-J Certificates are exchangeable for new Class A-J Certificates in authorized denominations evidencing the same aggregate Percentage Interest, as requested by the Holder surrendering the same.


                    As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices of the Certificate Registrar, duly endorsed by, or accompanied by a written instrument of transfer in the form satisfactory to the Certificate Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Class A-J Certificates in authorized denominations evidencing the same aggregate Percentage Interest will be issued to the designated transferee or transferees.


                    No service charge will be imposed for any registration of transfer or exchange of Class A-J Certificates, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of Class A-J Certificates.


                    Notwithstanding the foregoing, for so long as this Certificate is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC, transfers of interests in this Certificate shall be made through the book-entry facilities of DTC.


                    The Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent and the Certificate Registrar and any agent of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes whatsoever and none of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent, the Certificate Registrar or any such agent shall be affected by notice to the contrary.


                    The Trust Fund and the obligations created by the Agreement shall terminate upon distribution (or provision for distribution) to the Certificateholders of all amounts held by or on behalf of the Trustee and required to be distributed to them pursuant to the Agreement following the earlier to occur of (i) the final payment (or any advance with respect thereto) or 


A-9-4









other liquidation of the last Mortgage Loan or REO Property remaining in the Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder at a price determined as provided in the Agreement of all Mortgage Loans and each REO Property remaining in the Trust Fund.  The Agreement permits, but does not require, the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder to purchase from the Trust Fund all Mortgage Loans and each REO Property remaining therein.  The exercise of such right will effect early retirement of the Class A-J Certificates; however, such right to purchase is subject to the aggregate Stated Principal Balance of the Mortgage Pool at the time of purchase being less than 1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date specified on the face hereof.


                    In addition, any exchange by any Certificateholder of all of the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund may be made:  (i) if the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) are held by a single Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-5, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D, Class E, Class F Certificates and Class A-5FL Regular Interest have been paid in full.


                    The Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and obligations of the Depositor, the Master Servicer, the Special Servicer and the Trustee and the rights of the Certificateholders under the Agreement at any time by the Depositor, the Master Servicer, the Special Servicer and the Trustee with the consent of the Holders of Certificates entitled to at least 51% of the Voting Rights allocated to the affected Classes.  Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon this Certificate.  The Agreement also permits the
amendment thereof, in certain limited circumstances, including any amendment necessary to maintain the status of the Trust Fund (or designated portions thereof) as consisting of two separate REMICs and one grantor trust, without the consent of the Holders of any of the Certificates.


                    Unless the certificate of authentication hereon has been executed by the Certificate Registrar, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.


                    The registered Holder hereof, by its acceptance hereof, agrees that it will look solely to the Trust Fund (to the extent of its rights therein) for distributions hereunder.


                    This Certificate shall be construed in accordance with the internal laws of the State of New York applicable to agreements made and to be performed in said State, and the obligations, rights and remedies of the Holder hereof shall be determined in accordance with such laws.


A-9-5









                    IN WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed.


Dated:  May 23, 2007

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Certificate Registrar
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
   
  	
  
 
  	
  
Authorized   Representative
  




A-9-6









CERTIFICATE OF AUTHENTICATION


                    This is one of the Class A-J Certificates referred to in the within-mentioned Agreement.

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Authenticating Agent
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
   
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-9-7









ASSIGNMENT


                    FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto ________________________________________________________ (please print or typewrite name and address including postal zip code of assignee) the beneficial ownership interest in the Trust Fund evidenced by the within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the registration of transfer of such interest to assignee on the Certificate Register of the Trust Fund.


                    I (we) further direct the Certificate Registrar to issue a new Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and Class to the above named assignee and deliver such Commercial Mortgage Pass-Through Certificate to the following address:  __________________________________________________.


Dated:  _________________________

	
   
  	
  


  
	
  
 
  	
  
Signature by or on behalf of Assignor
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  


  
	
  
 
  	
  
Signature Guaranteed
  




A-9-8









DISTRIBUTION INSTRUCTIONS


                    The Assignee should include the following for purposes of distribution:


                    Distributions shall, if permitted, be made by wire transfer or otherwise, in immediately available funds, to _____________________________ for the account of _______________.


                    Distributions made by check (such check to be made payable to _____________________) and all applicable statements and notices should be mailed to _________________________.


                    This information is provided by ________________________________, the Assignee named above, or ____________________________________, as its agent.


A-9-9









EXHIBIT A-10


FORM OF CLASS B CERTIFICATE


CLASS B COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
 SERIES 2007-C31


evidencing a beneficial ownership interest in a trust fund (the “Trust Fund”) consisting primarily of a pool of multifamily and commercial mortgage loans (the “Mortgage Loans”), such pool being formed and sold by


WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

	
  
Pass-Through   Rate:  5.700% per annum
  	
  
 
  	
  
Class Principal   Balance of the Class B Certificates as of the Closing Date: $36,534,000
  
	
  
 
  	
  
 
  	
  
 
  
	
  Date of   Pooling and Servicing Agreement: as of May 1, 2007
  	
  
 
  	
  
Initial   Certificate Principal Balance of this Class B Certificate as of the   Closing Date: $36,534,000
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Closing Date:  May 23, 2007
  	
  
 
  	
  
Aggregate   Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date:   $5,845,468,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  
First   Distribution Date:  June 15, 2007
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Master   Servicer:  Wachovia Bank, National   Association
  	
  
 
  	
  
Trustee:   Wells Fargo Bank, N.A.
  
	
   
  	
  
 
  	
  
 
  
	
  
Special   Servicer:  LNR Partners, Inc.
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Certificate   No. B-1
  	
  
 
  	
  
CUSIP No.
  




UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION (“DTC”), TO THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.


A-10-1









THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS, INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.  NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.


SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT” (A “REMIC”) AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986 (THE “CODE”).


THIS CERTIFICATE IS SUBORDINATE TO THE CLASS A-1 CERTIFICATES, THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-5 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS IO CERTIFICATES AND THE CLASS A-5FL REGULAR INTEREST OF THE SAME SERIES TO THE EXTENT DESCRIBED IN THE AGREEMENT REFERRED TO HEREIN.


IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-1 CERTIFICATES, THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-5 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE CLASS A-J CERTIFICATES AND THE CLASS A-5FL REGULAR INTEREST OF THE SAME SERIES IS REDUCED TO ZERO, DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE MADE MONTHLY AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.  IN ADDITION, IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS C, CLASS D, CLASS E, CLASS F, CLASS G, CLASS H, CLASS J, CLASS K, CLASS L, CLASS M, CLASS N, CLASS O, CLASS P, CLASS Q, CLASS S, CLASS T AND CLASS U CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE
REDUCED BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE AGREEMENT REFERRED TO HEREIN.  ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.


                    This certifies that Cede & Co. is the registered owner of the Percentage Interest evidenced by this Class B Certificate (obtained by dividing the principal amount of this Class B Certificate (its “Certificate Principal Balance”) as of the Closing Date by the aggregate principal amount of all the Class B Certificates (their “Class Principal Balance”) as of the Closing Date in that certain beneficial ownership interest evidenced by all the Class B Certificates in the Trust 


A-10-2









Fund created pursuant to a Pooling and Servicing Agreement, dated as specified above (the “Agreement”), among Wachovia Commercial Mortgage Securities, Inc. (herein called the “Depositor”, which term includes any successor entity under the Agreement), Wachovia Bank, National Association (herein called the “Master Servicer”, which term includes any successor entity under the Agreement), LNR Partners, Inc. (herein called the “Special Servicer”, which term includes any successor entity under the Agreement) and Wells Fargo Bank, N.A. (herein called the “Trustee”, which term includes any successor entity under the Agreement), a summary of certain of the pertinent provisions of which is set forth hereafter.  To the extent not defined herein, the capitalized terms used herein have the respective meanings assigned in the Agreement.  This Certificate is issued under and is subject

to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound.


                    Pursuant to the terms of the Agreement, distributions will be made on the fourth Business Day following the related Determination Date (each, a “Distribution Date”).  The Determination Date is the 11th day of each month or, if such 11th day is not a Business Day, the Business Day immediately succeeding, commencing in June 2007 (each, a “Determination Date”).  Distributions will be made commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the last Business Day of the month immediately preceding the month of such distribution (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount required to be distributed to the Holders of
the Class B Certificates on the applicable Distribution Date pursuant to the Agreement.  All distributions made under the Agreement on the Class B Certificates will be made by Wells Fargo Bank, N.A., as paying agent (the “Paying Agent”), by wire transfer of immediately available funds to the account of the Person entitled thereto at a bank or other entity having appropriate facilities therefor, if such Certificateholder shall have provided the Paying Agent with wiring instructions no less than five Business Days prior to the related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions), or otherwise by check mailed to the address of such Certificateholder as it appears in the Certificate Register.  Notwithstanding the foregoing, the final distribution on this Certificate (determined without regard to any possible future reimbursement of any Realized Loss or Additional Trust Fund Expense previously
allocated to this Certificate) will be made in like manner, but only upon presentation and surrender of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to the Holder hereof of such final distribution.  Also notwithstanding the foregoing, any distribution that may be made with respect to this Certificate in reimbursement of any Realized Loss or Additional Trust Fund Expense previously allocated to this Certificate, which reimbursement is to occur after the date on which this Certificate is surrendered as contemplated by the preceding sentence, will be made by check mailed to the address of the Holder that surrenders this Certificate as such address last appears in the Certificate Register or to any such other address of which the Paying Agent is subsequently notified in writing.


                    The Certificates are limited in right of distribution to certain collections and recoveries respecting the Mortgage Loans and REO Loans, all as more specifically set forth herein and in the Agreement.  As provided in the Agreement, withdrawals from the Certificate Account, the Distribution Account and, if established, the REO Account may be made from time to time for purposes other than, and, in certain cases, prior to, distributions to Certificateholders, such purposes including the reimbursement of Advances made, or certain expenses incurred, with respect to the Mortgage Loans and the payment of interest on such Advances and expenses.


A-10-3









                    Interest accrued on this Certificate during an Interest Accrual Period, plus any unpaid interest shortfall with respect to this Certificate for any prior Distribution Date, if any, will be payable on the related Distribution Date to the extent provided in the Agreement.  The “Interest Accrual Period” with respect to any Distribution Date and with respect to the Class B Certificates is the calendar month preceding the month in which such Distribution Date occurs and is assumed to consist of 30 days.


                    Any distribution to the Holder of this Certificate in reduction of the Certificate Principal Balance hereof is binding on such Holder and all future Holders of this Certificate and any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such distribution is made upon this Certificate.


                    The Class B Certificates are issuable in fully registered form only without coupons in minimum denominations specified in the Agreement.  As provided in the Agreement and subject to certain limitations therein set forth, the Class B Certificates are exchangeable for new Class B Certificates in authorized denominations evidencing the same aggregate Percentage Interest, as requested by the Holder surrendering the same.


                    As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices of the Certificate Registrar, duly endorsed by, or accompanied by a written instrument of transfer in the form satisfactory to the Certificate Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Class B Certificates in authorized denominations evidencing the same aggregate Percentage Interest will be issued to the designated transferee or transferees.


                    No service charge will be imposed for any registration of transfer or exchange of Class B Certificates, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of Class B Certificates.


                    Notwithstanding the foregoing, for so long as this Certificate is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC, transfers of interests in this Certificate shall be made through the book-entry facilities of DTC.


                    The Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent and the Certificate Registrar and any agent of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes whatsoever and none of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent, the Certificate Registrar, or any such agent shall be affected by notice to the contrary.


A-10-4









                    The Trust Fund and the obligations created by the Agreement shall terminate upon distribution (or provision for distribution) to the Certificateholders of all amounts held by or on behalf of the Trustee and required to be distributed to them pursuant to the Agreement following the earlier to occur of (i) the final payment (or any advance with respect thereto) or other liquidation of the last Mortgage Loan or REO Property remaining in the Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder at a price determined as provided in the Agreement of all Mortgage Loans and each REO Property remaining in the Trust Fund.  The Agreement permits, but does not require, the Master Servicer, the Special Servicer or the Majority Subordinate
Certificateholder to purchase from the Trust Fund all Mortgage Loans and each REO Property remaining therein.  The exercise of such right will effect early retirement of the Class B Certificates; however, such right to purchase is subject to the aggregate Stated Principal Balance of the Mortgage Pool at the time of purchase being less than 1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date specified on the face hereof.


                    In addition, any exchange by any Certificateholder of all of the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund may be made:  (i) if the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) are held by a single Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-5, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D, Class E, Class F Certificates and Class A-5FL Regular Interest have been paid in full.


                    The Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and obligations of the Depositor, the Master Servicer, the Special Servicer and the Trustee and the rights of the Certificateholders under the Agreement at any time by the Depositor, the Master Servicer, the Special Servicer and the Trustee with the consent of the Holders of Certificates entitled to at least 51% of the Voting Rights allocated to the affected Classes.  Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon this Certificate.  The Agreement also permits the
amendment thereof, in certain limited circumstances, including any amendment necessary to maintain the status of the Trust Fund (or designated portions thereof) as consisting of two separate REMICs and one grantor trust, without the consent of the Holders of any of the Certificates.


                    Unless the certificate of authentication hereon has been executed by the Certificate Registrar, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.


                    The registered Holder hereof, by its acceptance hereof, agrees that it will look solely to the Trust Fund (to the extent of its rights therein) for distributions hereunder.


                    This Certificate shall be construed in accordance with the internal laws of the State of New York applicable to agreements made and to be performed in said State, and the obligations, rights and remedies of the Holder hereof shall be determined in accordance with such laws.


A-10-5









                    IN WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed.


Dated:  May 23, 2007

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Certificate Registrar
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
   
  	
  
 
  	
  
Authorized   Representative
  




A-10-6









CERTIFICATE OF AUTHENTICATION


                    This is one of the Class B Certificates referred to in the within-mentioned Agreement.

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Authenticating Agent
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
   
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-10-7









ASSIGNMENT


                    FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto ________________________________________________________ (please print or typewrite name and address including postal zip code of assignee) the beneficial ownership interest in the Trust Fund evidenced by the within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the registration of transfer of such interest to assignee on the Certificate Register of the Trust Fund.


                    I (we) further direct the Certificate Registrar to issue a new Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and Class to the above named assignee and deliver such Commercial Mortgage Pass-Through Certificate to the following address:  __________________________________________________.


Dated:  _________________________

	
   
  	
  


  
	
  
 
  	
  
Signature by or on behalf of Assignor
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  


  
	
  
 
  	
  
Signature Guaranteed
  




A-10-8









DISTRIBUTION INSTRUCTIONS


                    The Assignee should include the following for purposes of distribution:


                    Distributions shall, if permitted, be made by wire transfer or otherwise, in immediately available funds, to _____________________________ for the account of _______________.


                    Distributions made by check (such check to be made payable to _____________________) and all applicable statements and notices should be mailed to _________________________.


This information is provided by ________________________________, the Assignee named above, or ____________________________________, as its agent.


A-10-9









EXHIBIT A-11


FORM OF CLASS C CERTIFICATE


CLASS C COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
 SERIES 2007-C31


evidencing a beneficial ownership interest in a trust fund (the “Trust Fund”) consisting primarily of a pool of multifamily and commercial mortgage loans (the “Mortgage Loans”), such pool being formed and sold by


WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

	
  
Pass-Through   Rate:  5.877% per annum
  	
  
 
  	
  
Class Principal   Balance of the Class C Certificates as of the Closing Date: $73,068,000
  
	
  
 
  	
  
 
  	
  
 
  
	
  Date of   Pooling and Servicing Agreement: as of May 1, 2007
  	
  
 
  	
  
Initial   Certificate Principal Balance of this Class C Certificate as of the   Closing Date: $73,068,000
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Closing   Date: May 23, 2007
  	
  
 
  	
  
Aggregate   Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date:   $5,845,468,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  
First   Distribution Date:  June 15, 2007
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Master   Servicer:  Wachovia Bank, National   Association
  	
  
 
  	
  
Trustee:   Wells Fargo Bank, N.A.
  
	
   
  	
  
 
  	
  
 
  
	
  
Special   Servicer:  LNR Partners, Inc.
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Certificate   No. C-1
  	
  
 
  	
  
CUSIP No.
  




UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION (“DTC”), TO THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.


A-11-1









THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS, INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.  NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.


SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT” (A “REMIC”) AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986 (THE “CODE”).


THIS CERTIFICATE IS SUBORDINATE TO THE CLASS A-1 CERTIFICATES, THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-5 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE CLASS IO CERTIFICATES AND THE CLASS A-5FL REGULAR INTEREST OF THE SAME SERIES TO THE EXTENT DESCRIBED IN THE AGREEMENT REFERRED TO HEREIN.


IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-1 CERTIFICATES, THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-5 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES AND THE CLASS A-5FL REGULAR INTEREST OF THE SAME SERIES IS REDUCED TO ZERO, DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE MADE MONTHLY AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.  IN ADDITION, IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS D, CLASS E, CLASS F, CLASS G, CLASS H, CLASS J, CLASS K, CLASS L, CLASS M, CLASS N, CLASS O, CLASS P, CLASS Q, CLASS S, CLASS T AND CLASS U CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, THE CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE MAY BE REDUCED BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE AGREEMENT REFERRED TO HEREIN.  ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.


                    This certifies that Cede & Co. is the registered owner of the Percentage Interest evidenced by this Class C Certificate (obtained by dividing the principal amount of this Class C Certificate (its “Certificate Principal Balance”) as of the Closing Date by the aggregate principal amount of all the Class C Certificates (their “Class Principal Balance”) as of the Closing Date) in 


A-11-2









that certain beneficial ownership interest evidenced by all the Class C Certificates in the Trust Fund created pursuant to a Pooling and Servicing Agreement, dated as specified above (the “Agreement”), among Wachovia Commercial Mortgage Securities, Inc. (herein called the “Depositor”, which term includes any successor entity under the Agreement), Wachovia Bank, National Association (herein called the “Master Servicer”, which term includes any successor entity under the Agreement), LNR Partners, Inc. (herein called the “Special Servicer”, which term includes any successor entity under the Agreement) and Wells Fargo Bank, N.A. (herein called the “Trustee”, which term includes any successor entity under the Agreement), a summary of certain of the pertinent provisions of which is set forth hereafter.  To the extent not defined herein, the capitalized terms used herein have
the respective meanings assigned in the Agreement.  This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound.


                    Pursuant to the terms of the Agreement, distributions will be made on the fourth Business Day following the related Determination Date (each, a “Distribution Date”).  The Determination Date is the 11th day of each month or, if such 11th day is not a Business Day, the Business Day immediately succeeding, commencing in June 2007 (each, a “Determination Date”).  Distributions will be made commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the last Business Day of the month immediately preceding the month of such distribution (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount required to be distributed to the Holders of
the Class C Certificates on the applicable Distribution Date pursuant to the Agreement.  All distributions made under the Agreement on the Class C Certificates will be made by Wells Fargo Bank, N.A., as paying agent (the “Paying Agent”), by wire transfer of immediately available funds to the account of the Person entitled thereto at a bank or other entity having appropriate facilities therefor, if such Certificateholder shall have provided the Paying Agent with wiring instructions no less than five Business Days prior to the related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions), or otherwise by check mailed to the address of such Certificateholder as it appears in the Certificate Register.  Notwithstanding the foregoing, the final distribution on this Certificate (determined without regard to any possible future reimbursement of any Realized Loss or Additional Trust Fund Expense previously
allocated to this Certificate) will be made in like manner, but only upon presentation and surrender of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to the Holder hereof of such final distribution.  Also notwithstanding the foregoing, any distribution that may be made with respect to this Certificate in reimbursement of any Realized Loss or Additional Trust Fund Expense previously allocated to this Certificate, which reimbursement is to occur after the date on which this Certificate is surrendered as contemplated by the preceding sentence, will be made by check mailed to the address of the Holder that surrenders this Certificate as such address last appears in the Certificate Register or to any such other address of which the Paying Agent is subsequently notified in writing.


                    The Certificates are limited in right of distribution to certain collections and recoveries respecting the Mortgage Loans and REO Loans, all as more specifically set forth herein and in the Agreement.  As provided in the Agreement, withdrawals from the Certificate Account, the Distribution Account and, if established, the REO Account may be made from time 


A-11-3









to time for purposes other than, and, in certain cases, prior to, distributions to Certificateholders, such purposes including the reimbursement of Advances made, or certain expenses incurred, with respect to the Mortgage Loans and the payment of interest on such Advances and expenses.


                    Interest accrued on this Certificate during an Interest Accrual Period, plus any unpaid interest shortfall with respect to this Certificate for any prior Distribution Date, if any, will be payable on the related Distribution Date to the extent provided in the Agreement.  The “Interest Accrual Period” with respect to any Distribution Date and with respect to the Class C Certificates is the calendar month preceding the month in which such Distribution Date occurs and is assumed to consist of 30 days.


                    Any distribution to the Holder of this Certificate in reduction of the Certificate Principal Balance hereof is binding on such Holder and all future Holders of this Certificate and any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such distribution is made upon this Certificate.


                    The Class C Certificates are issuable in fully registered form only without coupons in minimum denominations specified in the Agreement.  As provided in the Agreement and subject to certain limitations therein set forth, the Class C Certificates are exchangeable for new Class C Certificates in authorized denominations evidencing the same aggregate Percentage Interest, as requested by the Holder surrendering the same.


                    As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices of the Certificate Registrar, duly endorsed by, or accompanied by a written instrument of transfer in the form satisfactory to the Certificate Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Class C Certificates in authorized denominations evidencing the same aggregate Percentage Interest will be issued to the designated transferee or transferees.


                    No service charge will be imposed for any registration of transfer or exchange of Class C Certificates, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of Class C Certificates.


                    Notwithstanding the foregoing, for so long as this Certificate is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC, transfers of interests in this Certificate shall be made through the book-entry facilities of DTC.


                    The Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent and the Certificate Registrar and any agent of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes whatsoever and none of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent, the Certificate Registrar, or any such agent shall be affected by notice to the contrary.


A-11-4









                    The Trust Fund and the obligations created by the Agreement shall terminate upon distribution (or provision for distribution) to the Certificateholders of all amounts held by or on behalf of the Trustee and required to be distributed to them pursuant to the Agreement following the earlier to occur of (i) the final payment (or any advance with respect thereto) or other liquidation of the last Mortgage Loan or REO Property remaining in the Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder at a price determined as provided in the Agreement of all Mortgage Loans and each REO Property remaining in the Trust Fund.  The Agreement permits, but does not require, the Master Servicer, the Special Servicer or the Majority Subordinate
Certificateholder to purchase from the Trust Fund all Mortgage Loans and each REO Property remaining therein.  The exercise of such right will effect early retirement of the Class C Certificates; however, such right to purchase is subject to the aggregate Stated Principal Balance of the Mortgage Pool at the time of purchase being less than 1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date specified on the face hereof.


                    In addition, any exchange by any Certificateholder of all of the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund may be made:  (i) if the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) are held by a single Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-5, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D, Class E, Class F Certificates and Class A-5FL Regular Interest have been paid in full.


                    The Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and obligations of the Depositor, the Master Servicer, the Special Servicer and the Trustee and the rights of the Certificateholders under the Agreement at any time by the Depositor, the Master Servicer, the Special Servicer and the Trustee with the consent of the Holders of Certificates entitled to at least 51% of the Voting Rights allocated to the affected Classes.  Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon this Certificate.  The Agreement also permits the
amendment thereof, in certain limited circumstances, including any amendment necessary to maintain the status of the Trust Fund (or designated portions thereof) as consisting of two separate REMICs and one grantor trust, without the consent of the Holders of any of the Certificates.


                    Unless the certificate of authentication hereon has been executed by the Certificate Registrar, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.


                    The registered Holder hereof, by its acceptance hereof, agrees that it will look solely to the Trust Fund (to the extent of its rights therein) for distributions hereunder.


                    This Certificate shall be construed in accordance with the internal laws of the State of New York applicable to agreements made and to be performed in said State, and the obligations, rights and remedies of the Holder hereof shall be determined in accordance with such laws.


A-11-5









                    IN WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed.


Dated:  May 23,  2007

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Certificate Registrar
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
   
  	
  
 
  	
  
Authorized   Representative
  




A-11-6









CERTIFICATE OF AUTHENTICATION


                    This is one of the Class C Certificates referred to in the within-mentioned Agreement.

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Authenticating Agent
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
   
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-11-7









ASSIGNMENT


                    FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto ________________________________________________________ (please print or typewrite name and address including postal zip code of assignee) the beneficial ownership interest in the Trust Fund evidenced by the within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the registration of transfer of such interest to assignee on the Certificate Register of the Trust Fund.


                    I (we) further direct the Certificate Registrar to issue a new Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and Class to the above named assignee and deliver such Commercial Mortgage Pass-Through Certificate to the following address:  __________________________________________________.


Dated:  _________________________

	
   
  	
  


  
	
  
 
  	
  
Signature by or on behalf of Assignor
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  


  
	
  
 
  	
  
Signature Guaranteed
  




A-11-8









DISTRIBUTION INSTRUCTIONS


                    The Assignee should include the following for purposes of distribution:


                    Distributions shall, if permitted, be made by wire transfer or otherwise, in immediately available funds, to _____________________________ for the account of _______________.


                    Distributions made by check (such check to be made payable to _____________________) and all applicable statements and notices should be mailed to _________________________.


                    This information is provided by ________________________________, the Assignee named above, or ____________________________________, as its agent.


A-11-9









EXHIBIT A-12


FORM OF CLASS D CERTIFICATE


CLASS D COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
 SERIES 2007-C31


evidencing a beneficial ownership interest in a trust fund (the “Trust Fund”) consisting primarily of a pool of multifamily and commercial mortgage loans (the “Mortgage Loans”), such pool being formed and sold by


WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

	
  
Pass-Through   Rate:  5.937% per annum
  	
  
 
  	
  
Class Principal   Balance of the Class D Certificates as of the Closing Date: $73,069,000
  
	
  
 
  	
  
 
  	
  
 
  
	
  Date of   Pooling and Servicing Agreement: as of May 1, 2007
  	
  
 
  	
  
Initial   Certificate Principal Balance of this Class D Certificate as of the   Closing Date: $73,069,000
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Closing   Date:  May 23, 2007
  	
  
 
  	
  
Aggregate   Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date:   $5,845,468,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  
First   Distribution Date: June 15, 2007
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Master   Servicer:  Wachovia Bank, National   Association
  	
  
 
  	
  
Trustee:   Wells Fargo Bank, N.A.
  
	
   
  	
  
 
  	
  
 
  
	
  
Special   Servicer:  LNR Partners, Inc.
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Certificate   No. D-1
  	
  
 
  	
  
CUSIP No.
  




UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION (“DTC”), TO THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.


A-12-1









THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS, INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.  NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.


SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT” (A “REMIC”) AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986 (THE “CODE”).


THIS CERTIFICATE IS SUBORDINATE TO THE CLASS A-1 CERTIFICATES, THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-5 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE CLASS C CERTIFICATES, THE CLASS IO CERTIFICATES AND THE CLASS A-5FL REGULAR INTEREST OF THE SAME SERIES TO THE EXTENT DESCRIBED IN THE AGREEMENT REFERRED TO HEREIN.


IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-1 CERTIFICATES, THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-5 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE CLASS C CERTIFICATES AND THE CLASS A-5FL REGULAR INTEREST OF THE SAME SERIES IS REDUCED TO ZERO, DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE MADE MONTHLY AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.  IN ADDITION, IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS E, CLASS F, CLASS G, CLASS H, CLASS J, CLASS K, CLASS L, CLASS M, CLASS N, CLASS O, CLASS P, CLASS Q, CLASS S, CLASS T AND CLASS U CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, THE CERTIFICATE PRINCIPAL BALANCE OF THIS

CERTIFICATE MAY BE REDUCED BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE AGREEMENT REFERRED TO HEREIN.  ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.


                    This certifies that Cede & Co. is the registered owner of the Percentage Interest evidenced by this Class D Certificate (obtained by dividing the principal amount of this Class D Certificate (its “Certificate Principal Balance”) as of the Closing Date by the aggregate principal amount of all the Class D Certificates (their “Class Principal Balance”) as of the Closing Date) in 


A-12-2









that certain beneficial ownership interest evidenced by all the Class D Certificates in the Trust Fund created pursuant to a Pooling and Servicing Agreement, dated as specified above (the “Agreement”), among Wachovia Commercial Mortgage Securities, Inc. (herein called the “Depositor”, which term includes any successor entity under the Agreement), Wachovia Bank, National Association (herein called the “Master Servicer”, which term includes any successor entity under the Agreement), LNR Partners, Inc. (herein called the “Special Servicer”, which term includes any successor entity under the Agreement) and Wells Fargo Bank, N.A. (herein called the “Trustee”, which term includes any successor entity under the Agreement), a summary of certain of the pertinent provisions of which is set forth hereafter.  To the extent not defined herein, the capitalized terms used herein have
the respective meanings assigned in the Agreement.  This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound.


                    Pursuant to the terms of the Agreement, distributions will be made on the fourth Business Day following the related Determination Date (each, a “Distribution Date”).  The Determination Date is the 11th day of each month or, if such 11th day is not a Business Day, the Business Day immediately succeeding, commencing in June 2007 (each, a “Determination Date”).  Distributions will be made commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the last Business Day of the month immediately preceding the month of such distribution (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount required to be distributed to the Holders of
the Class D Certificates on the applicable Distribution Date pursuant to the Agreement.  All distributions made under the Agreement on the Class D Certificates will be made by Wells Fargo Bank, N.A., as paying agent (the “Paying Agent”), by wire transfer of immediately available funds to the account of the Person entitled thereto at a bank or other entity having appropriate facilities therefor, if such Certificateholder shall have provided the Paying Agent with wiring instructions no less than five Business Days prior to the related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions), or otherwise by check mailed to the address of such Certificateholder as it appears in the Certificate Register.  Notwithstanding the foregoing, the final distribution on this Certificate (determined without regard to any possible future reimbursement of any Realized Loss or Additional Trust Fund Expense previously
allocated to this Certificate) will be made in like manner, but only upon presentation and surrender of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to the Holder hereof of such final distribution.  Also notwithstanding the foregoing, any distribution that may be made with respect to this Certificate in reimbursement of any Realized Loss or Additional Trust Fund Expense previously allocated to this Certificate, which reimbursement is to occur after the date on which this Certificate is surrendered as contemplated by the preceding sentence, will be made by check mailed to the address of the Holder that surrenders this Certificate as such address last appears in the Certificate Register or to any such other address of which the Paying Agent is subsequently notified in writing.


                    The Certificates are limited in right of distribution to certain collections and recoveries respecting the Mortgage Loans and REO Loans, all as more specifically set forth herein and in the Agreement.  As provided in the Agreement, withdrawals from the Certificate Account, the Distribution Account and, if established, the REO Account may be made from time 


A-12-3









to time for purposes other than, and, in certain cases, prior to, distributions to Certificateholders, such purposes including the reimbursement of Advances made, or certain expenses incurred, with respect to the Mortgage Loans and the payment of interest on such Advances and expenses.


                    Interest accrued on this Certificate during an Interest Accrual Period, plus any unpaid interest shortfall with respect to this Certificate for any prior Distribution Date, if any, will be payable on the related Distribution Date to the extent provided in the Agreement.  The “Interest Accrual Period” with respect to any Distribution Date and with respect to the Class D Certificates is the calendar month preceding the month in which such Distribution Date occurs and is assumed to consist of 30 days.


                    Any distribution to the Holder of this Certificate in reduction of the Certificate Principal Balance hereof is binding on such Holder and all future Holders of this Certificate and any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such distribution is made upon this Certificate.


                    The Class D Certificates are issuable in fully registered form only without coupons in minimum denominations specified in the Agreement.  As provided in the Agreement and subject to certain limitations therein set forth, the Class D Certificates are exchangeable for new Class D Certificates in authorized denominations evidencing the same aggregate Percentage Interest, as requested by the Holder surrendering the same.


                    As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices of the Certificate Registrar, duly endorsed by, or accompanied by a written instrument of transfer in the form satisfactory to the Certificate Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Class D Certificates in authorized denominations evidencing the same aggregate Percentage Interest will be issued to the designated transferee or transferees.


                    No service charge will be imposed for any registration of transfer or exchange of Class D Certificates, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of Class D Certificates.


                    Notwithstanding the foregoing, for so long as this Certificate is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC, transfers of interests in this Certificate shall be made through the book-entry facilities of DTC.


                    The Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent and the Certificate Registrar and any agent of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes whatsoever and none of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent, the Certificate Registrar, or any such agent shall be affected by notice to the contrary.


A-12-4









                    The Trust Fund and the obligations created by the Agreement shall terminate upon distribution (or provision for distribution) to the Certificateholders of all amounts held by or on behalf of the Trustee and required to be distributed to them pursuant to the Agreement following the earlier to occur of (i) the final payment (or any advance with respect thereto) or other liquidation of the last Mortgage Loan or REO Property remaining in the Trust Fund, and (ii) the purchase by the Master Servicer, Special Servicer or the Majority Subordinate Certificateholder at a price determined as provided in the Agreement of all Mortgage Loans and each REO Property remaining in the Trust Fund.  The Agreement permits, but does not require, the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder to

purchase from the Trust Fund all Mortgage Loans and each REO Property remaining therein.  The exercise of such right will effect early retirement of the Class D Certificates; however, such right to purchase is subject to the aggregate Stated Principal Balance of the Mortgage Pool at the time of purchase being less than 1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date specified on the face hereof.


                    In addition, any exchange by any Certificateholder of all of the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund may be made:  (i) if the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) are held by a single Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-5, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D, Class E, Class F Certificates and Class A-5FL Regular Interest have been paid in full.


                    The Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and obligations of the Depositor, the Master Servicer, the Special Servicer and the Trustee and the rights of the Certificateholders under the Agreement at any time by the Depositor, the Master Servicer, the Special Servicer and the Trustee with the consent of the Holders of Certificates entitled to at least 51% of the Voting Rights allocated to the affected Classes.  Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon this Certificate.  The Agreement also permits the
amendment thereof, in certain limited circumstances, including any amendment necessary to maintain the status of the Trust Fund (or designated portions thereof) as consisting of two separate REMICs and one grantor trust, without the consent of the Holders of any of the Certificates.


                    Unless the certificate of authentication hereon has been executed by the Certificate Registrar, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.


                    The registered Holder hereof, by its acceptance hereof, agrees that it will look solely to the Trust Fund (to the extent of its rights therein) for distributions hereunder.


                    This Certificate shall be construed in accordance with the internal laws of the State of New York applicable to agreements made and to be performed in said State, and the obligations, rights and remedies of the Holder hereof shall be determined in accordance with such laws.


A-12-5









                    IN WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed.


Dated:  May 23, 2007

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Certificate Registrar
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
   
  	
  
 
  	
  
Authorized   Representative
  




A-12-6









CERTIFICATE OF AUTHENTICATION


                    This is one of the Class D Certificates referred to in the within-mentioned Agreement.

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Authenticating Agent
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
   
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-12-7









ASSIGNMENT


                    FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto ________________________________________________________ (please print or typewrite name and address including postal zip code of assignee) the beneficial ownership interest in the Trust Fund evidenced by the within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the registration of transfer of such interest to assignee on the Certificate Register of the Trust Fund.


                    I (we) further direct the Certificate Registrar to issue a new Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and Class to the above named assignee and deliver such Commercial Mortgage Pass-Through Certificate to the following address:  __________________________________________________.


Dated:  _________________________

	
   
  	
  


  
	
  
 
  	
  
Signature by or on behalf of Assignor
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  


  
	
  
 
  	
  
Signature Guaranteed
  




A-12-8









DISTRIBUTION INSTRUCTIONS


                    The Assignee should include the following for purposes of distribution:


                    Distributions shall, if permitted, be made by wire transfer or otherwise, in immediately available funds, to _____________________________ for the account of _______________.


                    Distributions made by check (such check to be made payable to _____________________) and all applicable statements and notices should be mailed to _________________________.


                    This information is provided by ________________________________, the Assignee named above, or ____________________________________, as its agent.


A-12-9









EXHIBIT A-13


FORM OF CLASS E CERTIFICATE


CLASS E COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
 SERIES 2007-C31


evidencing a beneficial ownership interest in a trust fund (the “Trust Fund”) consisting primarily of a pool of multifamily and commercial mortgage loans (the “Mortgage Loans”), such pool being formed and sold by


WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

	
  
Pass-Through   Rate:  5.962% per annum
  	
  
 
  	
  
Class Principal   Balance of the Class E Certificates as of the Closing Date: $29,227,000
  
	
  
 
  	
  
 
  	
  
 
  
	
  Date of   Pooling and Servicing Agreement: as of May 1, 2007
  	
  
 
  	
  
Initial   Certificate Principal Balance of this Class E Certificate as of the Closing   Date: $29,227,000
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Closing   Date:  May 23, 2007
  	
  
 
  	
  
Aggregate   Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date:   $5,845,468,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  
First   Distribution Date:  June 15, 2007
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Master   Servicer:  Wachovia Bank, National   Association
  	
  
 
  	
  
Trustee:   Wells Fargo Bank, N.A.
  
	
   
  	
  
 
  	
  
 
  
	
  
Special   Servicer:  LNR Partners, Inc.
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Certificate   No. E-1
  	
  
 
  	
  
CUSIP No.
  




UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION (“DTC”), TO THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.


A-13-1









THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS, INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.  NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.


SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT” (A “REMIC”) AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986 (THE “CODE”).


THIS CERTIFICATE IS SUBORDINATE TO THE CLASS A-1 CERTIFICATES, THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-5 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE CLASS C CERTIFICATES, THE CLASS D CERTIFICATES, THE CLASS IO CERTIFICATES AND THE CLASS A-5FL REGULAR INTEREST OF THE SAME SERIES TO THE EXTENT DESCRIBED IN THE AGREEMENT REFERRED TO HEREIN.


IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-1 CERTIFICATES, THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-5 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE CLASS C CERTIFICATES, THE CLASS D CERTIFICATES AND THE CLASS A-5FL REGULAR INTEREST OF THE SAME SERIES IS REDUCED TO ZERO, DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE MADE MONTHLY AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.  IN ADDITION, IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS F, CLASS G, CLASS H, CLASS J, CLASS K, CLASS L, CLASS M, CLASS N, CLASS O, CLASS P, CLASS Q, CLASS S, CLASS T AND CLASS U CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, THE CERTIFICATE PRINCIPAL
BALANCE OF THIS CERTIFICATE MAY BE REDUCED BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE AGREEMENT REFERRED TO HEREIN.  ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.


A-13-2









                    This certifies that Cede & Co. is the registered owner of the Percentage Interest evidenced by this Class E Certificate (obtained by dividing the principal amount of this Class E Certificate (its “Certificate Principal Balance”) as of the Closing Date by the aggregate principal amount of all the Class E Certificates (their “Class Principal Balance”) as of the Closing Date) in that certain beneficial ownership interest evidenced by all the Class E Certificates in the Trust Fund created pursuant to a Pooling and Servicing Agreement, dated as specified above (the “Agreement”), among Wachovia Commercial Mortgage Securities, Inc. (herein called the “Depositor”, which term includes any successor entity under the Agreement), Wachovia Bank, National
Association (herein called the “Master Servicer”, which term includes any successor entity under the Agreement), LNR Partners, Inc. (herein called the “Special Servicer”, which term includes any successor entity under the Agreement) and Wells Fargo Bank, N.A. (herein called the “Trustee”, which term includes any successor entity under the Agreement), a summary of certain of the pertinent provisions of which is set forth hereafter.  To the extent not defined herein, the capitalized terms used herein have the respective meanings assigned in the Agreement.  This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound.


                    Pursuant to the terms of the Agreement, distributions will be made on the fourth Business Day following the related Determination Date (each, a “Distribution Date”).  The Determination Date is the 11th day of each month or, if such 11th day is not a Business Day, the Business Day immediately succeeding, commencing in June 2007 (each, a “Determination Date”).  Distributions will be made commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the last Business Day of the month immediately preceding the month of such distribution (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount required to be distributed to the Holders of

the Class E Certificates on the applicable Distribution Date pursuant to the Agreement.  All distributions made under the Agreement on the Class E Certificates will be made by Wells Fargo Bank, N.A., as paying agent (the “Paying Agent”), by wire transfer of immediately available funds to the account of the Person entitled thereto at a bank or other entity having appropriate facilities therefor, if such Certificateholder shall have provided the Paying Agent with wiring instructions no less than five Business Days prior to the related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions), or otherwise by check mailed to the address of such Certificateholder as it appears in the Certificate Register.  Notwithstanding the foregoing, the final distribution on this Certificate (determined without regard to any possible future reimbursement of any Realized Loss or Additional Trust Fund Expense previously allocated
to this Certificate) will be made in like manner, but only upon presentation and surrender of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to the Holder hereof of such final distribution.  Also notwithstanding the foregoing, any distribution that may be made with respect to this Certificate in reimbursement of any Realized Loss or Additional Trust Fund Expense previously allocated to this Certificate, which reimbursement is to occur after the date on which this Certificate is surrendered as contemplated by the preceding sentence, will be made by check mailed to the address of the Holder that surrenders this Certificate as such address last appears in the Certificate Register or to any such other address of which the Paying Agent is subsequently notified in writing.


A-13-3









                    The Certificates are limited in right of distribution to certain collections and recoveries respecting the Mortgage Loans and REO Loans, all as more specifically set forth herein and in the Agreement.  As provided in the Agreement, withdrawals from the Certificate Account, the Distribution Account and, if established, the REO Account may be made from time to time for purposes other than, and, in certain cases, prior to, distributions to Certificateholders, such purposes including the reimbursement of Advances made, or certain expenses incurred, with respect to the Mortgage Loans and the payment of interest on such Advances and expenses.


                    Interest accrued on this Certificate during an Interest Accrual Period, plus any unpaid interest shortfall with respect to this Certificate for any prior Distribution Date, if any, will be payable on the related Distribution Date to the extent provided in the Agreement.  The “Interest Accrual Period” with respect to any Distribution Date and with respect to the Class E Certificates is the calendar month preceding the month in which such Distribution Date occurs and is assumed to consist of 30 days.


                    Any distribution to the Holder of this Certificate in reduction of the Certificate Principal Balance hereof is binding on such Holder and all future Holders of this Certificate and any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such distribution is made upon this Certificate.


                    The Class E Certificates are issuable in fully registered form only without coupons in minimum denominations specified in the Agreement.  As provided in the Agreement and subject to certain limitations therein set forth, the Class E Certificates are exchangeable for new Class E Certificates in authorized denominations evidencing the same aggregate Percentage Interest, as requested by the Holder surrendering the same.


                    As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices of the Certificate Registrar, duly endorsed by, or accompanied by a written instrument of transfer in the form satisfactory to the Certificate Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Class E Certificates in authorized denominations evidencing the same aggregate Percentage Interest will be issued to the designated transferee or transferees.


                    No service charge will be imposed for any registration of transfer or exchange of Class E Certificates, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of Class E Certificates.


                    Notwithstanding the foregoing, for so long as this Certificate is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC, transfers of interests in this Certificate shall be made through the book-entry facilities of DTC.


                    The Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent and the Certificate Registrar and any agent of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes whatsoever and none of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent, the Certificate Registrar, or any such agent shall be affected by notice to the contrary.


A-13-4









                    The Trust Fund and the obligations created by the Agreement shall terminate upon distribution (or provision for distribution) to the Certificateholders of all amounts held by or on behalf of the Trustee and required to be distributed to them pursuant to the Agreement following the earlier to occur of (i) the final payment (or any advance with respect thereto) or other liquidation of the last Mortgage Loan or REO Property remaining in the Trust Fund, and (ii) the purchase by the Master Servicer, Special Servicer or the Majority Subordinate Certificateholder at a price determined as provided in the Agreement of all Mortgage Loans and each REO Property remaining in the Trust Fund.  The Agreement permits, but does not require, the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder to

purchase from the Trust Fund all Mortgage Loans and each REO Property remaining therein.  The exercise of such right will effect early retirement of the Class E Certificates; however, such right to purchase is subject to the aggregate Stated Principal Balance of the Mortgage Pool at the time of purchase being less than 1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date specified on the face hereof.


                    In addition, any exchange by any Certificateholder of all of the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund may be made:  (i) if the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) are held by a single Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-5, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D, Class E, Class F Certificates and Class A-5FL Regular Interest have been paid in full.


                    The Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and obligations of the Depositor, the Master Servicer, the Special Servicer and the Trustee and the rights of the Certificateholders under the Agreement at any time by the Depositor, the Master Servicer, the Special Servicer and the Trustee with the consent of the Holders of Certificates entitled to at least 51% of the Voting Rights allocated to the affected Classes.  Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon this Certificate.  The Agreement also permits the
amendment thereof, in certain limited circumstances, including any amendment necessary to maintain the status of the Trust Fund (or designated portions thereof) as consisting of two separate REMICs and one grantor trust, without the consent of the Holders of any of the Certificates.


                    Unless the certificate of authentication hereon has been executed by the Certificate Registrar, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.


                    The registered Holder hereof, by its acceptance hereof, agrees that it will look solely to the Trust Fund (to the extent of its rights therein) for distributions hereunder.


A-13-5









                    This Certificate shall be construed in accordance with the internal laws of the State of New York applicable to agreements made and to be performed in said State, and the obligations, rights and remedies of the Holder hereof shall be determined in accordance with such laws.


A-13-6









                    IN WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed.


Dated:  May 23, 2007

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Certificate Registrar
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
   
  	
  
 
  	
  
Authorized   Representative
  




A-13-7









CERTIFICATE OF AUTHENTICATION


                    This is one of the Class E Certificates referred to in the within-mentioned Agreement.

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Authenticating Agent
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
   
  	
  
 
  	
  
Authorized   Representative
  




A-13-8









ASSIGNMENT


                    FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto ________________________________________________________ (please print or typewrite name and address including postal zip code of assignee) the beneficial ownership interest in the Trust Fund evidenced by the within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the registration of transfer of such interest to assignee on the Certificate Register of the Trust Fund.


                    I (we) further direct the Certificate Registrar to issue a new Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and Class to the above named assignee and deliver such Commercial Mortgage Pass-Through Certificate to the following address:  __________________________________________________.


Dated:  _________________________

	
  
 
  	
  


  
	
  
 
  	
  
Signature by or on behalf of Assignor
  
	
   
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  


  
	
  
 
  	
  
Signature Guaranteed
  




A-13-9









DISTRIBUTION INSTRUCTIONS


                    The Assignee should include the following for purposes of distribution:


                    Distributions shall, if permitted, be made by wire transfer or otherwise, in immediately available funds, to _____________________________ for the account of _______________.


                    Distributions made by check (such check to be made payable to _____________________) and all applicable statements and notices should be mailed to _________________________.


                    This information is provided by ________________________________, the Assignee named above, or ____________________________________, as its agent.


A-13-10









EXHIBIT A-14


FORM OF CLASS F CERTIFICATE


CLASS F COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
 SERIES 2007-C31


evidencing a beneficial ownership interest in a trust fund (the “Trust Fund”) consisting primarily of a pool of multifamily and commercial mortgage loans (the “Mortgage Loans”), such pool being formed and sold by


WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

	
  
Pass-Through   Rate:  5.962% per annum
  	
  
 
  	
  
Class Principal   Balance of the Class F Certificates as of the Closing Date: $51,148,000
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Date of   Pooling and Servicing Agreement: as of May 1, 2007
  	
  
 
  	
  
Initial   Certificate Principal Balance of this Class F Certificate as of the   Closing Date: $51,148,000
  
	
   
  	
  
 
  	
  
 
  
	
  
Closing   Date:  May 23, 2007
  	
  
 
  	
  
Aggregate   Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date:   $5,845,468,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  
First   Distribution Date:  June 15, 2007
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Master   Servicer:  Wachovia Bank, National   Association
  	
  
 
  	
  
Trustee:   Wells Fargo Bank, N.A.
  
	
  
 
  	
  
 
  	
  
 
  
	
  Special   Servicer:  LNR Partners, Inc.
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Certificate   No. F-1
  	
  
 
  	
  
CUSIP No.
  




UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION (“DTC”), TO THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.


A-14-1









THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS, INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.  NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.


SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT” (A “REMIC”) AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986 (THE “CODE”).


THIS CERTIFICATE IS SUBORDINATE TO THE CLASS A-1 CERTIFICATES, THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-5 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE CLASS C CERTIFICATES, THE CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE CLASS IO CERTIFICATES AND THE CLASS A-5FL REGULAR INTEREST OF THE SAME SERIES TO THE EXTENT DESCRIBED IN THE AGREEMENT REFERRED TO HEREIN.


IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-1 CERTIFICATES, THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-5 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE CLASS C CERTIFICATES, THE CLASS D CERTIFICATES, THE CLASS E CERTIFICATES AND THE CLASS A-5FL REGULAR INTEREST OF THE SAME SERIES IS REDUCED TO ZERO, DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE MADE MONTHLY AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.  IN ADDITION, IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS G, CLASS H, CLASS J, CLASS K, CLASS L, CLASS M, CLASS N, CLASS O, CLASS P, CLASS Q, CLASS S, CLASS T AND CLASS U CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, THE CERTIFICATE
PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE REDUCED BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE AGREEMENT REFERRED TO HEREIN.  ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.


A-14-2









                    This certifies that Cede & Co. is the registered owner of the Percentage Interest evidenced by this Class F Certificate (obtained by dividing the principal amount of this Class F Certificate (its “Certificate Principal Balance”) as of the Closing Date by the aggregate principal amount of all the Class F Certificates (their “Class Principal Balance”) as of the Closing Date) in that certain beneficial ownership interest evidenced by all the Class F Certificates in the Trust Fund created pursuant to a Pooling and Servicing Agreement, dated as specified above (the “Agreement”), among Wachovia Commercial Mortgage Securities, Inc. (herein called the “Depositor”, which term includes any successor entity under the Agreement), Wachovia Bank, National Association

(herein called the “Master Servicer”, which term includes any successor entity under the Agreement), LNR Partners, Inc. (herein called the “Special Servicer”, which term includes any successor entity under the Agreement) and Wells Fargo Bank, N.A. (herein called the “Trustee”, which term includes any successor entity under the Agreement), a summary of certain of the pertinent provisions of which is set forth hereafter.  To the extent not defined herein, the capitalized terms used herein have the respective meanings assigned in the Agreement.  This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound.


                    Pursuant to the terms of the Agreement, distributions will be made on the fourth Business Day following the related Determination Date (each, a “Distribution Date”).  The Determination Date is the 11th day of each month or, if such 11th day is not a Business Day, the Business Day immediately succeeding, commencing in June 2007 (each, a “Determination Date”).  Distributions will be made commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the last Business Day of the month immediately preceding the month of such distribution (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount required to be distributed to the Holders of
the Class F Certificates on the applicable Distribution Date pursuant to the Agreement.  All distributions made under the Agreement on the Class F Certificates will be made by Wells Fargo Bank, N.A., as paying agent (the “Paying Agent”), by wire transfer of immediately available funds to the account of the Person entitled thereto at a bank or other entity having appropriate facilities therefor, if such Certificateholder shall have provided the Paying Agent with wiring instructions no less than five Business Days prior to the related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions), or otherwise by check mailed to the address of such Certificateholder as it appears in the Certificate Register.  Notwithstanding the foregoing, the final distribution on this Certificate (determined without regard to any possible future reimbursement of any Realized Loss or Additional Trust Fund Expense previously allocated
to this Certificate) will be made in like manner, but only upon presentation and surrender of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to the Holder hereof of such final distribution.  Also notwithstanding the foregoing, any distribution that may be made with respect to this Certificate in reimbursement of any Realized Loss or Additional Trust Fund Expense previously allocated to this Certificate, which reimbursement is to occur after the date on which this Certificate is surrendered as contemplated by the preceding sentence, will be made by check mailed to the address of the Holder that surrenders this Certificate as such address last appears in the Certificate Register or to any such other address of which the Paying Agent is subsequently notified in writing.


A-14-3









                    The Certificates are limited in right of distribution to certain collections and recoveries respecting the Mortgage Loans and REO Loans, all as more specifically set forth herein and in the Agreement.  As provided in the Agreement, withdrawals from the Certificate Account, the Distribution Account and, if established, the REO Account may be made from time to time for purposes other than, and, in certain cases, prior to, distributions to Certificateholders, such purposes including the reimbursement of Advances made, or certain expenses incurred, with respect to the Mortgage Loans and the payment of interest on such Advances and expenses.


                    Interest accrued on this Certificate during an Interest Accrual Period, plus any unpaid interest shortfall with respect to this Certificate for any prior Distribution Date, if any, will be payable on the related Distribution Date to the extent provided in the Agreement.  The “Interest Accrual Period” with respect to any Distribution Date and with respect to the Class F Certificates is the calendar month preceding the month in which such Distribution Date occurs and is assumed to consist of 30 days.


                    Any distribution to the Holder of this Certificate in reduction of the Certificate Principal Balance hereof is binding on such Holder and all future Holders of this Certificate and any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such distribution is made upon this Certificate.


                    The Class F Certificates are issuable in fully registered form only without coupons in minimum denominations specified in the Agreement.  As provided in the Agreement and subject to certain limitations therein set forth, the Class F Certificates are exchangeable for new Class F Certificates in authorized denominations evidencing the same aggregate Percentage Interest, as requested by the Holder surrendering the same.


                    As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices of the Certificate Registrar, duly endorsed by, or accompanied by a written instrument of transfer in the form satisfactory to the Certificate Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Class F Certificates in authorized denominations evidencing the same aggregate Percentage Interest will be issued to the designated transferee or transferees.


                    No service charge will be imposed for any registration of transfer or exchange of Class F Certificates, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of Class F Certificates.


                    Notwithstanding the foregoing, for so long as this Certificate is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC, transfers of interests in this Certificate shall be made through the book-entry facilities of DTC.


                    The Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent and the Certificate Registrar and any agent of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes whatsoever and none of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent, the Certificate Registrar, or any such agent shall be affected by notice to the contrary.


A-14-4









                    The Trust Fund and the obligations created by the Agreement shall terminate upon distribution (or provision for distribution) to the Certificateholders of all amounts held by or on behalf of the Trustee and required to be distributed to them pursuant to the Agreement following the earlier to occur of (i) the final payment (or any advance with respect thereto) or other liquidation of the last Mortgage Loan or REO Property remaining in the Trust Fund, and (ii) the purchase by the Master Servicer, Special Servicer or the Majority Subordinate Certificateholder at a price determined as provided in the Agreement of all Mortgage Loans and each REO Property remaining in the Trust Fund.  The Agreement permits, but does not require, the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder to

purchase from the Trust Fund all Mortgage Loans and each REO Property remaining therein.  The exercise of such right will effect early retirement of the Class F Certificates; however, such right to purchase is subject to the aggregate Stated Principal Balance of the Mortgage Pool at the time of purchase being less than 1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date specified on the face hereof.


                    In addition, any exchange by any Certificateholder of all of the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund may be made:  (i) if the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) are held by a single Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-5, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D, Class E, Class F Certificates and Class A-5FL Regular Interest have been paid in full.


                    The Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and obligations of the Depositor, the Master Servicer, the Special Servicer and the Trustee and the rights of the Certificateholders under the Agreement at any time by the Depositor, the Master Servicer, the Special Servicer and the Trustee with the consent of the Holders of Certificates entitled to at least 51% of the Voting Rights allocated to the affected Classes.  Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon this Certificate.  The Agreement also permits the
amendment thereof, in certain limited circumstances, including any amendment necessary to maintain the status of the Trust Fund (or designated portions thereof) as consisting of two separate REMICs and one grantor trust, without the consent of the Holders of any of the Certificates.


                    Unless the certificate of authentication hereon has been executed by the Certificate Registrar, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.


                    The registered Holder hereof, by its acceptance hereof, agrees that it will look solely to the Trust Fund (to the extent of its rights therein) for distributions hereunder.


A-14-5









                    This Certificate shall be construed in accordance with the internal laws of the State of New York applicable to agreements made and to be performed in said State, and the obligations, rights and remedies of the Holder hereof shall be determined in accordance with such laws.


A-14-6









                    IN WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed.


Dated:  May 23, 2007

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Certificate Registrar
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  



A-14-7









CERTIFICATE OF AUTHENTICATION


                    This is one of the Class F Certificates referred to in the within-mentioned Agreement.

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Authenticating Agent
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  



A-14-8









ASSIGNMENT


                    FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto ________________________________________________________ (please print or typewrite name and address including postal zip code of assignee) the beneficial ownership interest in the Trust Fund evidenced by the within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the registration of transfer of such interest to assignee on the Certificate Register of the Trust Fund.


                    I (we) further direct the Certificate Registrar to issue a new Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and Class to the above named assignee and deliver such Commercial Mortgage Pass-Through Certificate to the following address:  __________________________________________________.


Dated:  _________________________

	
  
 
  	
  


  
	
  
 
  	
  
Signature by or on behalf of Assignor
  
	
  
 
  	
  
 
  
	
   
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  


  
	
  
 
  	
  
Signature Guaranteed
  




A-14-9









DISTRIBUTION INSTRUCTIONS


                    The Assignee should include the following for purposes of distribution:


                    Distributions shall, if permitted, be made by wire transfer or otherwise, in immediately available funds, to _____________________________ for the account of _______________.


                    Distributions made by check (such check to be made payable to _____________________) and all applicable statements and notices should be mailed to _________________________.


                    This information is provided by ________________________________, the Assignee named above, or ____________________________________, as its agent.


A-14-10









EXHIBIT A-15


FORM OF CLASS A-5FL CERTIFICATE


CLASS A-5FL COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
 SERIES 2007-C31


evidencing a beneficial ownership interest in a trust fund (the “Trust Fund”) consisting primarily of a pool of multifamily and commercial mortgage loans (the “Mortgage Loans”), such pool being formed and sold by


WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

	
  
Pass-Through   Rate:  LIBOR + [__]% per annum
  	
  
 
  	
  
Aggregage   Certificate Notional Amount of the Class A-5FL Certificates as of the Closing   Date: $500,000,000
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Date of   Pooling and Servicing Agreement: as of May 1, 2007
  	
  
 
  	
  
Initial Certificate   Notional Amount of this Class A-5FL Certificate as of the Closing Date:   $500,000,000
  
	
   
  	
  
 
  	
  
 
  
	
  
Closing   Date:  May 23, 2007
  	
  
 
  	
  
Aggregate   Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date:   $5,845,468,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  
First   Distribution Date:  June 15, 2007
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Master   Servicer:  Wachovia Bank, National   Association
  	
  
 
  	
  
Trustee:   Wells Fargo Bank, N.A.
  
	
  
 
  	
  
 
  	
  
 
  
	
  Special   Servicer:  LNR Partners, Inc.
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Certificate   No. A-5FL-1
  	
  
 
  	
  
CUSIP No.
  




UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION (“DTC”), TO THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.


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THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., WACHOVIA BANK, NATIONAL ASSOCIATION, OR ANY OF THEIR RESPECTIVE AFFILIATES.  NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.


THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933 (THE “SECURITIES ACT”) OR THE SECURITIES LAWS OF ANY STATE.  ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION 5.02 OF THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.


SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS A BENEFICIAL INTEREST IN A GRANTOR TRUST UNDER SUBPART E, PART I OF SUBCHAPTER J OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), WHICH GRANTOR TRUST CONSISTS OF A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT (A “REMIC”) AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE CODE (THE “CLASS A-5FL REGULAR INTEREST”), THE SWAP CONTRACT AND THE FLOATING RATE ACCOUNT.


DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE MADE MONTHLY AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.  IN ADDITION, IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-M, CLASS A-J, CLASS B, CLASS C, CLASS D, CLASS E, CLASS F, CLASS G, CLASS H, CLASS J, CLASS K, CLASS L, CLASS M, CLASS N, CLASS O, CLASS P, CLASS Q, CLASS S, CLASS T AND CLASS U CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE, THE CLASS A-1 CERTIFICATES, THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-1A CERTIFICATES AND THE CLASS A-5FL REGULAR INTEREST MAY BE REDUCED BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.  ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY
TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.


THE PASS-THROUGH RATE ON THIS CERTIFICATE IS BASED ON LIBOR AND THEREFORE IS SUBJECT TO CHANGE OVER TIME BASED UPON CHANGES IN THE RATE OF LIBOR.  IN ADDITION, THE PASS-THROUGH RATE ON THIS CERTIFICATE MAY CONVERT TO A FIXED PER ANNUM RATE UNDER CERTAIN CIRCUMSTANCES SET FORTH IN THE POOLING AND SERVICING AGREEMENT.


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                    This certifies that Cede & Co. is the registered owner of the Percentage Interest evidenced by this Class A-5FL Certificate (obtained by dividing the principal amount of this Class A-5FL Certificate (its “Certificate Principal Balance”) as of the Closing Date by the aggregate principal amount of all the Class A-5FL Certificates (their “Class Principal Balance”) as of the Closing Date) in that certain beneficial ownership interest evidenced by the Class A-5FL Regular Interest in the Trust Fund created pursuant to a Pooling and Servicing Agreement, dated as specified above (the “Agreement”), among Wachovia Commercial Mortgage Securities, Inc. (herein called the “Depositor”, which term includes any successor entity under the Agreement), Wachovia Bank, National Association
(herein called the “Master Servicer”, which term includes any successor entity under the Agreement), LNR Partners, Inc. (herein called the “Special Servicer”, which term includes any successor entity under the Agreement) and Wells Fargo Bank, N.A. (herein called the “Trustee”, which term includes any successor entity under the Agreement), a summary of certain of the pertinent provisions of which is set forth hereafter.  To the extent not defined herein, the capitalized terms used herein have the respective meanings assigned in the Agreement.  This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound.


                    Pursuant to the terms of the Agreement, distributions will be made on the fourth Business Day following the related Determination Date (each, a “Distribution Date”).  The Determination Date is the 11th day of each month or, if such 11th day is not a Business Day, the Business Day immediately succeeding, commencing in June 2007 (each, a “Determination Date”).  Distributions will be made commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the last Business Day of the month immediately preceding the month of such distribution (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount required to be distributed to the Holders of

the Class A-5FL Certificates on the applicable Distribution Date pursuant to the Agreement.  Distributions in respect of the Class A-5FL Certificates may depend, in part, on payments from the Swap Counterparty under the Swap Contract as more specifically set forth in the Agreement.


                    All distributions made under the Agreement on the Class A-5FL Certificates will be made by Wells Fargo Bank, N.A., as paying agent (the “Paying Agent”), by wire transfer of immediately available funds to the account of the Person entitled thereto at a bank or other entity having appropriate facilities therefor, if such Certificateholder shall have provided the Paying Agent with wiring instructions no less than five Business Days prior to the related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions), or otherwise by check mailed to the address of such Certificateholder as it appears in the Certificate Register.  Notwithstanding the foregoing, the final distribution on this Certificate (determined without regard to any possible future reimbursement of any
Realized Loss or Additional Trust Fund Expense previously allocated to this Certificate) will be made in like manner, but only upon presentation and surrender of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to the Holder hereof of such final distribution.  Also notwithstanding the foregoing, any distribution that may be made with respect to this Certificate in reimbursement of any Realized Loss or Additional Trust Fund Expense previously allocated to this Certificate, which reimbursement is to occur after the date on which this Certificate is surrendered as contemplated by the preceding sentence, will be made 


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by check mailed to the address of the Holder that surrenders this Certificate as such address last appears in the Certificate Register or to any such other address of which the Paying Agent is subsequently notified in writing.


                    The Certificates are limited in right of distribution to certain collections and recoveries respecting the Mortgage Loans and REO Loans, all as more specifically set forth herein and in the Agreement.  As provided in the Agreement, withdrawals from the Certificate Account, the Floating Rate Account, the Distribution Account and, if established, the REO Account may be made from time to time for purposes other than, and, in certain cases, prior to, distributions to Certificateholders, such purposes including the reimbursement of Advances made, or certain expenses incurred, with respect to the Mortgage Loans and the payment of interest on such Advances and expenses.


                    Interest accrued on this Certificate during an Interest Accrual Period, plus any unpaid interest shortfall with respect to this Certificate for any prior Distribution Date, if any, will be payable on the related Distribution Date to the extent provided in the Agreement.  With respect to the Class A-5FL Certificates, (1) interest will be calculated on the basis of the actual number of days in the month and assuming each year has 360 days, and (2) the “Interest Accrual Period” with respect to any Distribution Date, is the period from and including the Distribution Date in the month preceding the month in which the related Distribution Date occurs (or in the case of the first Distribution Date, the Closing Date) to but excluding the related Distribution Date calculated on the basis of the actual number of days in such Interest
Accrual Period and assuming each year has 360 days; provided, however, that if a Class A-5FL Distribution Conversion, as provided in the Pooling and Servicing Agreement, has occurred, the Interest Accrual Period for the Class A-5FL Certificates with respect to any Distribution Date shall be the calendar month preceding the month in which such Distribution Date occurs and is assumed to consist of 30 days and each year is assumed to consist of 360 days.  Distributions in respect of the Class A-5FL Certificates may depend, in part, on payments from the Swap Counterparty under the Swap Contract as more specifically set forth in the Agreement.


                    Any distribution to the Holder of this Certificate in reduction of the Certificate Principal Balance hereof is binding on such Holder and all future Holders of this Certificate and any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such distribution is made upon this Certificate.


                    The Class A-5FL Certificates are issuable in fully registered form only without coupons in minimum denominations specified in the Agreement.  As provided in the Agreement and subject to certain limitations therein set forth, Class A-5FL Certificates are exchangeable for new Class A-5FL Certificates in authorized denominations evidencing the same aggregate Percentage Interest, as requested by the Holder surrendering the same.


                    As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices of the Certificate Registrar, duly endorsed by, or accompanied by a written instrument of transfer in the form satisfactory to the Certificate Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Class A-5FL Certificates in authorized denominations evidencing the same aggregate Percentage Interest will be issued to the designated transferee or transferees.


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                    No transfer of any Class A-5FL Certificate shall be made unless that transfer is made pursuant to an effective registration statement under the Securities Act, and effective registration or qualification under applicable state securities laws, or is made in a transaction which does not require such registration or qualification.  If such a transfer is to be made without registration under the Securities Act (other than in connection with the initial issuance thereof or the initial transfer thereof by the Depositor, the Underwriters or their respective affiliates), then the Certificate Registrar shall refuse to register such transfer unless it receives either: (i) a certificate from the Certificateholder desiring to effect such transfer substantially in the form attached as Exhibit F-1 to the Agreement, and a certificate from such
Certificateholder’s prospective transferee substantially in the form attached as either Exhibit F-2, Exhibit F-3 or Exhibit F-4 to the Agreement; or (ii) an Opinion of Counsel reasonably satisfactory to the Certificate Registrar to the effect that such transfer may be made without registration under the Securities Act (which Opinion of Counsel shall not be an expense of the Trust Fund or of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar in their respective capacities as such), together with the written certification(s) as to the facts surrounding such transfer from the Certificateholder desiring to effect such transfer and/or such Certificateholder’s prospective transferee on which such Opinion of Counsel is based.  None of the Depositor, the Trustee, Paying Agent or the Certificate Registrar is obligated to register or qualify the Class A-5FL Certificates under the Securities Act or any other securities law or to
take any action not otherwise required under the Agreement to permit the transfer of any Class A-5FL Certificate without registration or qualification.  Any Class A-5FL Certificateholder desiring to effect such a transfer shall, and by the acceptance of its Class A-5FL Certificate agrees to, indemnify the Trustee, the Certificate Registrar, the Paying Agent and the Depositor against any liability that may result if the transfer is not so exempt or is not made in accordance with such federal and state laws.


                    No service charge will be imposed for any registration of transfer or exchange of Class A-5FL Certificates, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of Class A-5FL Certificates.


                    Notwithstanding the foregoing, for so long as this Certificate is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC, transfers of interests in this Certificate shall be made through the book-entry facilities of DTC.


                    The Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent and the Certificate Registrar and any agent of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes whatsoever and none of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent, the Certificate Registrar, or any such agent shall be affected by notice to the contrary.


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                    The Trust Fund and the obligations created by the Agreement shall terminate upon distribution (or provision for distribution) to the Certificateholders of all amounts held by or on behalf of the Trustee and required to be distributed to them pursuant to the Agreement following the earlier to occur of (i) the final payment (or any advance with respect thereto) or other liquidation of the last Mortgage Loan or REO Property remaining in the Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder at a price determined as provided in the Agreement of all Mortgage Loans and each REO Property remaining in the Trust Fund.  The Agreement permits, but does not require, the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder to purchase from the Trust
Fund all Mortgage Loans and each REO Property remaining therein.  The exercise of such right will effect early retirement of the Class A-5FL Certificates; however, such right to purchase is subject to the aggregate Stated Principal Balance of the Mortgage Pool at the time of purchase being less than 1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date specified on the face hereof.


                    In addition, any exchange by any Certificateholder of all of the then outstanding Certificates (other than the Class IO, Class Z, Class R-I and Class R-II Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund may be made:  (i) if the then outstanding Certificates (other than the Class IO, Class Z, Class R-I and Class R-II Certificates) are held by a single Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-1A, Class A-5FL Regular Interest, Class A-M, Class A-J, Class B, Class C, Class D and Class E Certificates have been paid in full.


                    The Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and obligations of the Depositor, the Master Servicer, the Special Servicer and the Trustee and the rights of the Certificateholders under the Agreement at any time by the Depositor, the Master Servicer, the Special Servicer and the Trustee with the consent of the Holders of Certificates entitled to at least 51% of the Voting Rights allocated to the affected Classes.  Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon this Certificate.  The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to maintain the status of the Trust Fund (or designated portions thereof) as consisting of three separate REMICs and two grantor trusts, without the consent of the Holders of any of the Certificates.


                    Unless the certificate of authentication hereon has been executed by the Certificate Registrar, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.


                    The registered Holder hereof, by its acceptance hereof, agrees that it will look solely to the Trust Fund (to the extent of its rights therein) for distributions hereunder.


                    This Certificate shall be construed in accordance with the internal laws of the State of New York applicable to agreements made and to be performed in said State, and the obligations, rights and remedies of the Holder hereof shall be determined in accordance with such laws.


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                    IN WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed.


Dated:  May 23, 2007

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Certificate Registrar
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
   
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




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CERTIFICATE OF AUTHENTICATION


                    This is one of the Class A-5FL Certificates referred to in the within-mentioned Agreement.

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Authenticating Agent
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
   
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




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ASSIGNMENT


                    FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto ________________________________________________________ (please print or typewrite name and address including postal zip code of assignee) the beneficial ownership interest in the Trust Fund evidenced by the within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the registration of transfer of such interest to assignee on the Certificate Register of the Trust Fund.


                    I (we) further direct the Certificate Registrar to issue a new Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and Class to the above named assignee and deliver such Commercial Mortgage Pass-Through Certificate to the following address:  __________________________________________________.


Dated:  _________________________


	
  
 
  	
  


  
	
  
 
  	
  
Signature by or on behalf of Assignor
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  


  
	
  
 
  	
  
Signature Guaranteed
  




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DISTRIBUTION INSTRUCTIONS


                    The Assignee should include the following for purposes of distribution:


                    Distributions shall, if permitted, be made by wire transfer or otherwise, in immediately available funds, to _____________________________ for the account of _______________.


                    Distributions made by check (such check to be made payable to _____________________) and all applicable statements and notices should be mailed to _________________________.


                    This information is provided by ________________________________, the Assignee named above, or ____________________________________, as its agent.


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EXHIBIT A-16


FORM OF CLASS G CERTIFICATE


CLASS G COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
 SERIES 2007-C31


evidencing a beneficial ownership interest in a trust fund (the “Trust Fund”) consisting primarily of a pool of multifamily and commercial mortgage loans (the “Mortgage Loans”), such pool being formed and sold by


WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

	
  
Pass-Through   Rate:  5.962% per annum
  	
  
 
  	
  
Class Principal   Balance of the Class G Certificates as of the Closing Date: $58,454,000
  
	
   
  	
  
 
  	
  
 
  
	
  
Date of   Pooling and Servicing Agreement: as of May 1, 2007
  	
  
 
  	
  
Initial   Certificate Principal Balance of this Class G Certificate as of the   Closing Date: $58,454,000
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Closing   Date:  May 23, 2007
  	
  
 
  	
  
Aggregate   Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date:   $5,845,468,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  
First   Distribution Date: June 15, 2007
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  Master   Servicer:  Wachovia Bank, National   Association
  	
  
 
  	
  
Trustee:   Wells Fargo Bank, N.A.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Special   Servicer:  LNR Partners, Inc.
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Certificate   No. G-1
  	
  
 
  	
  
CUSIP No.
  




UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION (“DTC”), TO THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.


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THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS, INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.  NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.


THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933 (THE “SECURITIES ACT”) OR THE SECURITIES LAWS OF ANY STATE.  ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION 5.02 OF THE AGREEMENT REFERRED TO HEREIN.


SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT” (A “REMIC”) AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986 (THE “CODE”).


THIS CERTIFICATE IS SUBORDINATE TO THE CLASS A-1 CERTIFICATES, THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-5 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE CLASS C CERTIFICATES, THE CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE CLASS F CERTIFICATES, THE CLASS IO CERTIFICATES AND THE CLASS A-5FL REGULAR INTEREST OF THE SAME SERIES TO THE EXTENT DESCRIBED IN THE AGREEMENT REFERRED TO HEREIN.


NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST THEREIN SHALL BE MADE TO ANY “EMPLOYEE BENEFIT PLAN” SUBJECT TO TITLE I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), ANY “PLAN” SUBJECT TO SECTION 4975 OF THE CODE, OR ANY OTHER RETIREMENT PLAN OR OTHER EMPLOYEE BENEFIT PLAN OR ARRANGEMENT SUBJECT TO ANY FEDERAL, STATE, LOCAL, OR OTHER LAW SUBSTANTIVELY SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE, OR ANY PERSON ACTING ON BEHALF OF OR WITH ANY ASSETS OF ANY SUCH PLAN (EACH, A “PLAN”) UNLESS IT IS AN ACCREDITED INVESTOR AS DEFINED IN RULE 501(A)(1) OR REGULATION D UNDER THE SECURITIES ACT. EACH PERSON WHO ACQUIRES THIS CERTIFICATE SHALL BE REQUIRED (OR, IN THE CASE OF A BOOK ENTRY CERTIFICATE, DEEMED) TO HAVE CERTIFIED THAT THE FOREGOING CONDITION IS SATISFIED, AND THAT IT WILL NOT TRANSFER THIS CERTIFICATE IN VIOLATION OF THE FOREGOING.


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IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-1 CERTIFICATES, THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-5 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE CLASS C CERTIFICATES, THE CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE CLASS F CERTIFICATES AND THE CLASS A-5FL REGULAR INTEREST OF THE SAME SERIES IS REDUCED TO ZERO, DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE MADE MONTHLY AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.  IN ADDITION, IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS H, CLASS J, CLASS K, CLASS L, CLASS M, CLASS N, CLASS O, CLASS P, CLASS Q, CLASS S, CLASS T AND CLASS U CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE REDUCED BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE AGREEMENT REFERRED TO HEREIN.  ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.


                    This certifies that Cede & Co. is the registered owner of the Percentage Interest evidenced by this Class G Certificate (obtained by dividing the principal amount of this Class G Certificate (its “Certificate Principal Balance”) as of the Closing Date by the aggregate principal amount of all the Class G Certificates (their “Class Principal Balance”) as of the Closing Date) in that certain beneficial ownership interest evidenced by all the Class G Certificates in the Trust Fund created pursuant to a Pooling and Servicing Agreement, dated as specified above (the “Agreement”), among Wachovia Commercial Mortgage Securities, Inc. (herein called the “Depositor”, which term includes any successor entity under the Agreement), Wachovia Bank,
National Association (herein called the “Master Servicer”, which term includes any successor entity under the Agreement), LNR Partners, Inc. (herein called the “Special Servicer”, which term includes any successor entity under the Agreement) and Wells Fargo Bank, N.A. (herein called the “Trustee”, which term includes any successor entity under the Agreement), a summary of certain of the pertinent provisions of which is set forth hereafter.  To the extent not defined herein, the capitalized terms used herein have the respective meanings assigned in the Agreement.  This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound.


                    Pursuant to the terms of the Agreement, distributions will be made on the fourth Business Day following the related Determination Date (each, a “Distribution Date”).  The Determination Date is the 11th day of each month or, if such 11th day is not a Business Day, the Business Day immediately succeeding, commencing in June 2007 (each, a “Determination Date”).  Distributions will be made commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the last Business Day of the month immediately preceding the month of such distribution (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate 


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and the amount required to be distributed to the Holders of the Class G Certificates on the applicable Distribution Date pursuant to the Agreement.  All distributions made under the Agreement on the Class G Certificates will be made by Wells Fargo Bank, N.A., as paying agent (the “Paying Agent”), by wire transfer of immediately available funds to the account of the Person entitled thereto at a bank or other entity having appropriate facilities therefor, if such Certificateholder shall have provided the Paying Agent with wiring instructions no less than five Business Days prior to the related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions), or otherwise by check mailed to the address of such Certificateholder as it appears in the Certificate Register.  Notwithstanding the foregoing, the final distribution on this Certificate (determined without regard to
any possible future reimbursement of any Realized Loss or Additional Trust Fund Expense previously allocated to this Certificate) will be made in like manner, but only upon presentation and surrender of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to the Holder hereof of such final distribution.  Also notwithstanding the foregoing, any distribution that may be made with respect to this Certificate in reimbursement of any Realized Loss or Additional Trust Fund Expense previously allocated to this Certificate, which reimbursement is to occur after the date on which this Certificate is surrendered as contemplated by the preceding sentence, will be made by check mailed to the address of the Holder that surrenders this Certificate as such address last appears in the Certificate Register or to any such other address of which the Paying Agent is subsequently notified in writing.


                    The Certificates are limited in right of distribution to certain collections and recoveries respecting the Mortgage Loans and REO Loans, all as more specifically set forth herein and in the Agreement.  As provided in the Agreement, withdrawals from the Certificate Account, the Distribution Account and, if established, the REO Account may be made from time to time for purposes other than, and, in certain cases, prior to, distributions to Certificateholders, such purposes including the reimbursement of Advances made, or certain expenses incurred, with respect to the Mortgage Loans and the payment of interest on such Advances and expenses.


                    Interest accrued on this Certificate during an Interest Accrual Period, plus any unpaid interest shortfall with respect to this Certificate for any prior Distribution Date, if any, will be payable on the related Distribution Date to the extent provided in the Agreement.  The “Interest Accrual Period” with respect to any Distribution Date and with respect to the Class G Certificates is the calendar month preceding the month in which such Distribution Date occurs and is assumed to consist of 30 days.


                    Any distribution to the Holder of this Certificate in reduction of the Certificate Principal Balance hereof is binding on such Holder and all future Holders of this Certificate and any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such distribution is made upon this Certificate.


                    The Class G Certificates are issuable in fully registered form only without coupons in minimum denominations specified in the Agreement.  As provided in the Agreement and subject to certain limitations therein set forth, the Class G Certificates are exchangeable for new Class G Certificates in authorized denominations evidencing the same aggregate Percentage Interest, as requested by the Holder surrendering the same.


A-16-4









                    As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices of the Certificate Registrar, duly endorsed by, or accompanied by a written instrument of transfer in the form satisfactory to the Certificate Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Class G Certificates in authorized denominations evidencing the same aggregate Percentage Interest will be issued to the designated transferee or transferees.


                    No transfer of any Class G Certificate shall be made unless that transfer is made pursuant to an effective registration statement under the Securities Act, and effective registration or qualification under applicable state securities laws, or is made in a transaction which does not require such registration or qualification.  If such a transfer is to be made without registration under the Securities Act (other than in connection with the initial issuance thereof or the initial transfer thereof by the Depositor, the Initial Purchaser or their respective affiliates), then the Certificate Registrar shall refuse to register such transfer unless it receives either: (i) a certificate from the Certificateholder desiring to effect such transfer substantially in the form attached as Exhibit F-1 to the Agreement, and a certificate from such
Certificateholder’s prospective transferee substantially in the form attached as either Exhibit F-2, Exhibit F-3, Exhibit F-4, Exhibit F-5 or Exhibit F-6 to the Agreement; or (ii) an Opinion of Counsel reasonably satisfactory to the Certificate Registrar to the effect that such transfer may be made without registration under the Securities Act (which Opinion of Counsel shall not be an expense of the Trust Fund or of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar in their respective capacities as such), together with the written certification(s) as to the facts surrounding such transfer from the Certificateholder desiring to effect such transfer and/or such Certificateholder’s prospective transferee on which such Opinion of Counsel is based.  None of the Depositor, the Trustee, Paying Agent or the Certificate Registrar is obligated to register or qualify the Class G Certificates under the Securities Act
or any other securities law or to take any action not otherwise required under the Agreement to permit the transfer of any Class G Certificate without registration or qualification.  Any Class G Certificateholder desiring to effect such a transfer shall, and by the acceptance of its Class G Certificate agrees to, indemnify the Trustee, the Certificate Registrar, the Paying Agent and the Depositor against any liability that may result if the transfer is not so exempt or is not made in accordance with such federal and state laws.


                    No service charge will be imposed for any registration of transfer or exchange of Class G Certificates, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of Class G Certificates.


                    Notwithstanding the foregoing, for so long as this Certificate is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC, transfers of interests in this Certificate shall be made through the book-entry facilities of DTC.


                    The Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent and the Certificate Registrar and any agent of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar may treat the Person 


A-16-5









in whose name this Certificate is registered as the owner hereof for all purposes whatsoever and none of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent, the Certificate Registrar, or any such agent shall be affected by notice to the contrary.


                    The Trust Fund and the obligations created by the Agreement shall terminate upon distribution (or provision for distribution) to the Certificateholders of all amounts held by or on behalf of the Trustee and required to be distributed to them pursuant to the Agreement following the earlier to occur of (i) the final payment (or any advance with respect thereto) or other liquidation of the last Mortgage Loan or REO Property remaining in the Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder at a price determined as provided in the Agreement of all Mortgage Loans and each REO Property remaining in the Trust Fund.  The Agreement permits, but does not require, the Master Servicer, the Special Servicer or the Majority Subordinate
Certificateholder to purchase from the Trust Fund all Mortgage Loans and each REO Property remaining therein.  The exercise of such right will effect early retirement of the Class G Certificates; however, such right to purchase is subject to the aggregate Stated Principal Balance of the Mortgage Pool at the time of purchase being less than 1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date specified on the face hereof.


                    In addition, any exchange by any Certificateholder of all of the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund may be made:  (i) if the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) are held by a single Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-5, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D, Class E, Class F Certificates and Class A-5FL Regular Interest have been paid in full.


                    The Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and obligations of the Depositor, the Master Servicer, the Special Servicer and the Trustee and the rights of the Certificateholders under the Agreement at any time by the Depositor, the Master Servicer, the Special Servicer and the Trustee with the consent of the Holders of Certificates entitled to at least 51% of the Voting Rights allocated to the affected Classes.  Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon this Certificate.  The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to maintain the status of the Trust Fund (or designated portions thereof) as consisting of two separate REMICs and one grantor trust, without the consent of the Holders of any of the Certificates.


                    Unless the certificate of authentication hereon has been executed by the Certificate Registrar, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.


                    The registered Holder hereof, by its acceptance hereof, agrees that it will look solely to the Trust Fund (to the extent of its rights therein) for distributions hereunder.


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                    This Certificate shall be construed in accordance with the internal laws of the State of New York applicable to agreements made and to be performed in said State, and the obligations, rights and remedies of the Holder hereof shall be determined in accordance with such laws.


A-16-7









                    IN WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed.


Dated:  May 23, 2007

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Certificate Registrar
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
   
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-16-8









CERTIFICATE OF AUTHENTICATION


                    This is one of the Class G Certificates referred to in the within-mentioned Agreement.

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Authenticating Agent
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
   
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-16-9









ASSIGNMENT


                    FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto ________________________________________________________ (please print or typewrite name and address including postal zip code of assignee) the beneficial ownership interest in the Trust Fund evidenced by the within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the registration of transfer of such interest to assignee on the Certificate Register of the Trust Fund.


                    I (we) further direct the Certificate Registrar to issue a new Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and Class to the above named assignee and deliver such Commercial Mortgage Pass-Through Certificate to the following address:  __________________________________________________.


Dated:  _________________________


	
  
 
  	
  


  
	
  
 
  	
  
Signature by or on behalf of Assignor
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  


  
	
  
 
  	
  
Signature Guaranteed
  




A-16-10









DISTRIBUTION INSTRUCTIONS


                    The Assignee should include the following for purposes of distribution:


                    Distributions shall, if permitted, be made by wire transfer or otherwise, in immediately available funds, to _____________________________ for the account of _______________.


                    Distributions made by check (such check to be made payable to _____________________) and all applicable statements and notices should be mailed to _________________________.


                    This information is provided by ________________________________, the Assignee named above, or ____________________________________, as its agent.


A-16-11









EXHIBIT A-17


FORM OF CLASS H CERTIFICATE


CLASS H COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
 SERIES 2007-C31


evidencing a beneficial ownership interest in a trust fund (the “Trust Fund”) consisting primarily of a pool of multifamily and commercial mortgage loans (the “Mortgage Loans”), such pool being formed and sold by


WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

	
  
Pass-Through   Rate:  5.962% per annum
  	
  
 
  	
  
Class   Principal Balance of the Class H Certificates as of the Closing Date:   $80,376,000
  
	
  
 
  	
  
 
  	
  
 
  
	
  Date of   Pooling and Servicing Agreement: as of May 1, 2007
  	
  
 
  	
  
Initial   Certificate Principal Balance of this Class H Certificate as of the   Closing Date: $80,376,000
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Closing   Date: May 23, 2007
  	
  
 
  	
  
Aggregate   Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date:   $5,845,468,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  
First   Distribution Date:  June 15, 2007
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Master   Servicer:  Wachovia Bank, National   Association
  	
  
 
  	
  
Trustee:   Wells Fargo Bank, N.A.
  
	
   
  	
  
 
  	
  
 
  
	
  
Special   Servicer: LNR Partners, Inc.
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Certificate   No. H-1
  	
  
 
  	
  
CUSIP No.
  




UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION (“DTC”), TO THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.


A-17-1









THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS, INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.  NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.


THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933 (THE “SECURITIES ACT”) OR THE SECURITIES LAWS OF ANY STATE.  ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION 5.02 OF THE AGREEMENT REFERRED TO HEREIN.


SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT” (A “REMIC”) AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986 (THE “CODE”).


THIS CERTIFICATE IS SUBORDINATE TO THE CLASS A-1 CERTIFICATES, THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-5 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE CLASS C CERTIFICATES, THE CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE CLASS F CERTIFICATES, THE CLASS G CERTIFICATES, THE CLASS IO CERTIFICATES AND THE CLASS A-5FL REGULAR INTERREST OF THE SAME SERIES TO THE EXTENT DESCRIBED IN THE AGREEMENT REFERRED TO HEREIN.


NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST THEREIN SHALL BE MADE TO ANY “EMPLOYEE BENEFIT PLAN” SUBJECT TO TITLE I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), ANY “PLAN” SUBJECT TO SECTION 4975 OF THE CODE, OR ANY OTHER RETIREMENT PLAN OR OTHER EMPLOYEE BENEFIT PLAN OR ARRANGEMENT SUBJECT TO ANY FEDERAL, STATE, LOCAL, OR OTHER LAW SUBSTANTIVELY SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE, OR ANY PERSON ACTING ON BEHALF OF OR WITH ANY ASSETS OF ANY SUCH PLAN (EACH, A “PLAN”) UNLESS IT IS AN ACCREDITED INVESTOR AS DEFINED IN RULE 501(A)(1) OR REGULATION D UNDER THE SECURITIES ACT. EACH PERSON WHO ACQUIRES THIS CERTIFICATE SHALL BE REQUIRED (OR, IN THE CASE OF A BOOK ENTRY CERTIFICATE, DEEMED) TO HAVE CERTIFIED THAT THE FOREGOING CONDITION IS SATISFIED, AND THAT IT WILL NOT TRANSFER THIS CERTIFICATE IN VIOLATION OF THE FOREGOING.


A-17-2









IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-1 CERTIFICATES, THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-5 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE CLASS C CERTIFICATES, THE CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE CLASS F CERTIFICATES, THE CLASS G CERTIFICATES AND THE CLASS A-5FL REGULAR INTEREST OF THE SAME SERIES IS REDUCED TO ZERO, DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE MADE MONTHLY AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.  IN ADDITION, IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS J, CLASS K, CLASS L, CLASS M, CLASS N, CLASS O, CLASS P, CLASS Q, CLASS S, CLASS T AND CLASS U CERTIFICATES OF THE SAME SERIES IS REDUCED TO

ZERO, THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE REDUCED BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE AGREEMENT REFERRED TO HEREIN.  ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.


                    This certifies that Cede & Co. is the registered owner of the Percentage Interest evidenced by this Class H Certificate (obtained by dividing the principal amount of this Class H Certificate (its “Certificate Principal Balance”) as of the Closing Date by the aggregate principal amount of all the Class H Certificates (their “Class Principal Balance”) as of the Closing Date) in that certain beneficial ownership interest evidenced by all the Class H Certificates in the Trust Fund created pursuant to a Pooling and Servicing Agreement, dated as specified above (the “Agreement”), among Wachovia Commercial Mortgage Securities, Inc. (herein called the “Depositor”, which term includes any successor entity under the Agreement), Wachovia Bank,
National Association (herein called the “Master Servicer”, which term includes any successor entity under the Agreement), LNR Partners, Inc. (herein called the “Special Servicer”, which term includes any successor entity under the Agreement) and Wells Fargo Bank, N.A. (herein called the “Trustee”, which term includes any successor entity under the Agreement), a summary of certain of the pertinent provisions of which is set forth hereafter.  To the extent not defined herein, the capitalized terms used herein have the respective meanings assigned in the Agreement.  This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound.


                    Pursuant to the terms of the Agreement, distributions will be made on the fourth Business Day following the related Determination Date (each, a “Distribution Date”).  The Determination Date is the 11th day of each month or, if such 11th day is not a Business Day, the Business Day immediately succeeding, commencing in June 2007 (each, a “Determination Date”).  Distributions will be made commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the last Business Day of the month immediately preceding the month of such distribution (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate 


A-17-3









and the amount required to be distributed to the Holders of the Class H Certificates on the applicable Distribution Date pursuant to the Agreement.  All distributions made under the Agreement on the Class H Certificates will be made by Wells Fargo Bank, N.A., as paying agent (the “Paying Agent”), by wire transfer of immediately available funds to the account of the Person entitled thereto at a bank or other entity having appropriate facilities therefor, if such Certificateholder shall have provided the Paying Agent with wiring instructions no less than five Business Days prior to the related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions), or otherwise by check mailed to the address of such Certificateholder as it appears in the Certificate Register.  Notwithstanding the foregoing, the final distribution on this Certificate (determined without regard to
any possible future reimbursement of any Realized Loss or Additional Trust Fund Expense previously allocated to this Certificate) will be made in like manner, but only upon presentation and surrender of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to the Holder hereof of such final distribution.  Also notwithstanding the foregoing, any distribution that may be made with respect to this Certificate in reimbursement of any Realized Loss or Additional Trust Fund Expense previously allocated to this Certificate, which reimbursement is to occur after the date on which this Certificate is surrendered as contemplated by the preceding sentence, will be made by check mailed to the address of the Holder that surrenders this Certificate as such address last appears in the Certificate Register or to any such other address of which the Paying Agent is subsequently notified in writing.


                    The Certificates are limited in right of distribution to certain collections and recoveries respecting the Mortgage Loans and REO Loans, all as more specifically set forth herein and in the Agreement.  As provided in the Agreement, withdrawals from the Certificate Account, the Distribution Account and, if established, the REO Account may be made from time to time for purposes other than, and, in certain cases, prior to, distributions to Certificateholders, such purposes including the reimbursement of Advances made, or certain expenses incurred, with respect to the Mortgage Loans and the payment of interest on such Advances and expenses.


                    Interest accrued on this Certificate during an Interest Accrual Period, plus any unpaid interest shortfall with respect to this Certificate for any prior Distribution Date, if any, will be payable on the related Distribution Date to the extent provided in the Agreement.  The “Interest Accrual Period” with respect to any Distribution Date and with respect to the Class H Certificates is the calendar month preceding the month in which such Distribution Date occurs and is assumed to consist of 30 days.


                    Any distribution to the Holder of this Certificate in reduction of the Certificate Principal Balance hereof is binding on such Holder and all future Holders of this Certificate and any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such distribution is made upon this Certificate.


                    The Class H Certificates are issuable in fully registered form only without coupons in minimum denominations specified in the Agreement.  As provided in the Agreement and subject to certain limitations therein set forth, the Class H Certificates are exchangeable for new Class H Certificates in authorized denominations evidencing the same aggregate Percentage Interest, as requested by the Holder surrendering the same.


A-17-4









                    As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices of the Certificate Registrar, duly endorsed by, or accompanied by a written instrument of transfer in the form satisfactory to the Certificate Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Class H Certificates in authorized denominations evidencing the same aggregate Percentage Interest will be issued to the designated transferee or transferees.


                    No transfer of any Class H Certificate shall be made unless that transfer is made pursuant to an effective registration statement under the Securities Act, and effective registration or qualification under applicable state securities laws, or is made in a transaction which does not require such registration or qualification.  If such a transfer is to be made without registration under the Securities Act (other than in connection with the initial issuance thereof or the initial transfer thereof by the Depositor, the Initial Purchaser or their respective affiliates), then the Certificate Registrar shall refuse to register such transfer unless it receives either: (i) a certificate from the Certificateholder desiring to effect such transfer substantially in the form attached as Exhibit F-1 to the Agreement, and a certificate from such
Certificateholder’s prospective transferee substantially in the form attached as either Exhibit F-2, Exhibit F-3 Exhibit F-4, Exhibit F-5 or Exhibit F-6 to the Agreement; or (ii) an Opinion of Counsel reasonably satisfactory to the Certificate Registrar to the effect that such transfer may be made without registration under the Securities Act (which Opinion of Counsel shall not be an expense of the Trust Fund or of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar in their respective capacities as such), together with the written certification(s) as to the facts surrounding such transfer from the Certificateholder desiring to effect such transfer and/or such Certificateholder’s prospective transferee on which such Opinion of Counsel is based.  None of the Depositor, the Trustee, the Paying Agent or the Certificate Registrar is obligated to register or qualify the Class H Certificates under the Securities
Act or any other securities law or to take any action not otherwise required under the Agreement to permit the transfer of any Class H Certificate without registration or qualification.  Any Class H Certificateholder desiring to effect such a transfer shall, and by the acceptance of its Class H Certificate agrees to, indemnify the Trustee, the Certificate Registrar, the Paying Agent and the Depositor against any liability that may result if the transfer is not so exempt or is not made in accordance with such federal and state laws.


                    No service charge will be imposed for any registration of transfer or exchange of Class H Certificates, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of Class H Certificates.


                    Notwithstanding the foregoing, for so long as this Certificate is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC, transfers of interests in this Certificate shall be made through the book-entry facilities of DTC.


                    The Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent and the Certificate Registrar and any agent of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar may treat the Person 


A-17-5









in whose name this Certificate is registered as the owner hereof for all purposes whatsoever and none of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent, the Certificate Registrar, or any such agent shall be affected by notice to the contrary.


                    The Trust Fund and the obligations created by the Agreement shall terminate upon distribution (or provision for distribution) to the Certificateholders of all amounts held by or on behalf of the Trustee and required to be distributed to them pursuant to the Agreement following the earlier to occur of (i) the final payment (or any advance with respect thereto) or other liquidation of the last Mortgage Loan or REO Property remaining in the Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder at a price determined as provided in the Agreement of all Mortgage Loans and each REO Property remaining in the Trust Fund.  The Agreement permits, but does not require, the Master Servicer, the Special Servicer or the Majority Subordinate
Certificateholder to purchase from the Trust Fund all Mortgage Loans and each REO Property remaining therein.  The exercise of such right will effect early retirement of the Class H Certificates; however, such right to purchase is subject to the aggregate Stated Principal Balance of the Mortgage Pool at the time of purchase being less than 1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date specified on the face hereof.


                    In addition, any exchange by any Certificateholder of all of the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund may be made:  (i) if the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) are held by a single Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-5, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D, Class E, Class F Certificates and Class A-5FL Regular Interest have been paid in full.


                    The Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and obligations of the Depositor, the Master Servicer, the Special Servicer and the Trustee and the rights of the Certificateholders under the Agreement at any time by the Depositor, the Master Servicer, the Special Servicer and the Trustee with the consent of the Holders of Certificates entitled to at least 51% of the Voting Rights allocated to the affected Classes.  Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon this Certificate.  The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to maintain the status of the Trust Fund (or designated portions thereof) as consisting of two separate REMICs and one grantor trust, without the consent of the Holders of any of the Certificates.


                    Unless the certificate of authentication hereon has been executed by the Certificate Registrar, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.


                    The registered Holder hereof, by its acceptance hereof, agrees that it will look solely to the Trust Fund (to the extent of its rights therein) for distributions hereunder.


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                    This Certificate shall be construed in accordance with the internal laws of the State of New York applicable to agreements made and to be performed in said State, and the obligations, rights and remedies of the Holder hereof shall be determined in accordance with such laws.


A-17-7









                    IN WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed.


Dated:  May 23, 2007

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Certificate Registrar
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
   
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-17-8









CERTIFICATE OF AUTHENTICATION


                    This is one of the Class H Certificates referred to in the within-mentioned Agreement.

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Authenticating Agent
  
	
  
 
  	
  
 
  	
  
 
  
	
   
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-17-9









ASSIGNMENT


                    FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto ________________________________________________________ (please print or typewrite name and address including postal zip code of assignee) the beneficial ownership interest in the Trust Fund evidenced by the within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the registration of transfer of such interest to assignee on the Certificate Register of the Trust Fund.


                    I (we) further direct the Certificate Registrar to issue a new Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and Class to the above named assignee and deliver such Commercial Mortgage Pass-Through Certificate to the following address:  __________________________________________________.


Dated:  _________________________

	
  
 
  	
  


  
	
  
 
  	
  
Signature by or on behalf of Assignor
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  


  
	
  
 
  	
  
Signature Guaranteed
  




A-17-10









DISTRIBUTION INSTRUCTIONS


                    The Assignee should include the following for purposes of distribution:


                    Distributions shall, if permitted, be made by wire transfer or otherwise, in immediately available funds, to _____________________________ for the account of _______________.


                    Distributions made by check (such check to be made payable to _____________________) and all applicable statements and notices should be mailed to _________________________.


                    This information is provided by ________________________________, the Assignee named above, or ____________________________________, as its agent.


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EXHIBIT A-18


FORM OF CLASS J CERTIFICATE


CLASS J COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
 SERIES 2007-C31


evidencing a beneficial ownership interest in a trust fund (the “Trust Fund”) consisting primarily of a pool of multifamily and commercial mortgage loans (the “Mortgage Loans”), such pool being formed and sold by


WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

	
  
Pass-Through   Rate:  5.962% per annum
  	
  
 
  	
  
Class Principal   Balance of the Class J Certificates as of the Closing Date: $51,147,000
  
	
   
  	
  
 
  	
  
 
  
	
  
Date of   Pooling and Servicing Agreement: as of May 1, 2007
  	
  
 
  	
  
Initial   Certificate Principal Balance of this Class J Certificate as of the   Closing Date: $51,147,000
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Closing   Date:  May 23, 2007
  	
  
 
  	
  
Aggregate   Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date:   $5,845,468,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  First   Distribution Date:  June 15, 2007
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Master   Servicer:  Wachovia Bank, National   Association
  	
  
 
  	
  
Trustee:   Wells Fargo Bank, N.A.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Special   Servicer:  LNR Partners, Inc.
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Certificate   No. J-1
  	
  
 
  	
  
CUSIP No.
  




UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION (“DTC”), TO THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.


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THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS, INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.  NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.


THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933 (THE “SECURITIES ACT”) OR THE SECURITIES LAWS OF ANY STATE.  ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION 5.02 OF THE AGREEMENT REFERRED TO HEREIN.


SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT” (A “REMIC”) AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986 (THE “CODE”).


THIS CERTIFICATE IS SUBORDINATE TO THE CLASS A-1 CERTIFICATES, THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-5 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE CLASS C CERTIFICATES, THE CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE CLASS F CERTIFICATES, THE CLASS G CERTIFICATES, THE CLASS H CERTIFICATES, THE CLASS IO CERTIFICATES AND THE CLASS A-5FL REGULAR INTEREST OF THE SAME SERIES TO THE EXTENT DESCRIBED IN THE AGREEMENT REFERRED TO HEREIN.


NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST THEREIN SHALL BE MADE TO ANY “EMPLOYEE BENEFIT PLAN” SUBJECT TO TITLE I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), ANY “PLAN” SUBJECT TO SECTION 4975 OF THE CODE, OR ANY OTHER RETIREMENT PLAN OR OTHER EMPLOYEE BENEFIT PLAN OR ARRANGEMENT SUBJECT TO ANY FEDERAL, STATE, LOCAL, OR OTHER LAW SUBSTANTIVELY SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE, OR ANY PERSON ACTING ON BEHALF OF OR WITH ANY ASSETS OF ANY SUCH PLAN (EACH, A “PLAN”) UNLESS IT IS AN ACCREDITED INVESTOR AS DEFINED IN RULE 501(A)(1) OR REGULATION D UNDER THE SECURITIES ACT. EACH PERSON WHO ACQUIRES THIS CERTIFICATE SHALL BE REQUIRED (OR, IN THE CASE OF A BOOK ENTRY CERTIFICATE, DEEMED) TO HAVE CERTIFIED THAT THE FOREGOING CONDITION IS SATISFIED, AND THAT IT WILL NOT TRANSFER THIS CERTIFICATE IN VIOLATION OF THE FOREGOING.


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IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-1 CERTIFICATES, THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-5 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE CLASS C CERTIFICATES, THE CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE CLASS F CERTIFICATES, THE CLASS G CERTIFICATES, THE CLASS H CERTIFICATES AND THE CLASS A-5FL REGULAR INTEREST OF THE SAME SERIES IS REDUCED TO ZERO, DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE MADE MONTHLY AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.  IN ADDITION, IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS K, CLASS L, CLASS M, CLASS N, CLASS O, CLASS P, CLASS Q AND CLASS S CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO,

THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE REDUCED BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE AGREEMENT REFERRED TO HEREIN.  ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.


                    This certifies that Cede & Co. is the registered owner of the Percentage Interest evidenced by this Class J Certificate (obtained by dividing the principal amount of this Class J Certificate (its “Certificate Principal Balance”) as of the Closing Date by the aggregate principal amount of all the Class J Certificates (their “Class Principal Balance”) as of the Closing Date) in that certain beneficial ownership interest evidenced by all the Class J Certificates in the Trust Fund created pursuant to a Pooling and Servicing Agreement, dated as specified above (the “Agreement”), among Wachovia Commercial Mortgage Securities, Inc. (herein called the “Depositor”, which term includes any successor entity under the Agreement), Wachovia Bank,
National Association (herein called the “Master Servicer”, which term includes any successor entity under the Agreement), LNR Partners, Inc. (herein called the “Special Servicer”, which term includes any successor entity under the Agreement) and Wells Fargo Bank, N.A. (herein called the “Trustee”, which term includes any successor entity under the Agreement), a summary of certain of the pertinent provisions of which is set forth hereafter.  To the extent not defined herein, the capitalized terms used herein have the respective meanings assigned in the Agreement.  This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound.


                    Pursuant to the terms of the Agreement, distributions will be made on the fourth Business Day following the related Determination Date (each, a “Distribution Date”).  The Determination Date is the 11th day of each month or, if such 11th day is not a Business Day, the Business Day immediately succeeding, commencing in June 2007 (each, a “Determination Date”).  Distributions will be made commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the last Business Day of the month immediately preceding the month of such distribution (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate 


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and the amount required to be distributed to the Holders of the Class J Certificates on the applicable Distribution Date pursuant to the Agreement.  All distributions made under the Agreement on the Class J Certificates will be made by Wells Fargo Bank, N.A., as paying agent (the “Paying Agent”), by wire transfer of immediately available funds to the account of the Person entitled thereto at a bank or other entity having appropriate facilities therefor, if such Certificateholder shall have provided the Paying Agent with wiring instructions no less than five Business Days prior to the related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions), or otherwise by check mailed to the address of such Certificateholder as it appears in the Certificate Register.  Notwithstanding the foregoing, the final distribution on this Certificate (determined without regard to
any possible future reimbursement of any Realized Loss or Additional Trust Fund Expense previously allocated to this Certificate) will be made in like manner, but only upon presentation and surrender of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to the Holder hereof of such final distribution.  Also notwithstanding the foregoing, any distribution that may be made with respect to this Certificate in reimbursement of any Realized Loss or Additional Trust Fund Expense previously allocated to this Certificate, which reimbursement is to occur after the date on which this Certificate is surrendered as contemplated by the preceding sentence, will be made by check mailed to the address of the Holder that surrenders this Certificate as such address last appears in the Certificate Register or to any such other address of which the Paying Agent is subsequently notified in writing.


                    The Certificates are limited in right of distribution to certain collections and recoveries respecting the Mortgage Loans and REO Loans, all as more specifically set forth herein and in the Agreement.  As provided in the Agreement, withdrawals from the Certificate Account, the Distribution Account and, if established, the REO Account may be made from time to time for purposes other than, and, in certain cases, prior to, distributions to Certificateholders, such purposes including the reimbursement of Advances made, or certain expenses incurred, with respect to the Mortgage Loans and the payment of interest on such Advances and expenses.


                    Interest accrued on this Certificate during an Interest Accrual Period, plus any unpaid interest shortfall with respect to this Certificate for any prior Distribution Date, if any, will be payable on the related Distribution Date to the extent provided in the Agreement.  The “Interest Accrual Period” with respect to any Distribution Date and with respect to the Class J Certificates is the calendar month preceding the month in which such Distribution Date occurs and is assumed to consist of 30 days.


                    Any distribution to the Holder of this Certificate in reduction of the Certificate Principal Balance hereof is binding on such Holder and all future Holders of this Certificate and any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such distribution is made upon this Certificate.


                    The Class J Certificates are issuable in fully registered form only without coupons in minimum denominations specified in the Agreement.  As provided in the Agreement and subject to certain limitations therein set forth, the Class J Certificates are exchangeable for new Class J Certificates in authorized denominations evidencing the same aggregate Percentage Interest, as requested by the Holder surrendering the same.


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                    As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices of the Certificate Registrar, duly endorsed by, or accompanied by a written instrument of transfer in the form satisfactory to the Certificate Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Class J Certificates in authorized denominations evidencing the same aggregate Percentage Interest will be issued to the designated transferee or transferees.


                    No transfer of any Class J Certificate shall be made unless that transfer is made pursuant to an effective registration statement under the Securities Act, and effective registration or qualification under applicable state securities laws, or is made in a transaction which does not require such registration or qualification.  If such a transfer is to be made without registration under the Securities Act (other than in connection with the initial issuance thereof or the initial transfer thereof by the Depositor, the Initial Purchaser or their respective affiliates), then the Certificate Registrar shall refuse to register such transfer unless it receives either: (i) a certificate from the Certificateholder desiring to effect such transfer substantially in the form attached as Exhibit F-1 to the Agreement, and a certificate from such
Certificateholder’s prospective transferee substantially in the form attached as either Exhibit F-2, Exhibit F-3, Exhibit F-4, Exhibit F-5 or Exhibit F-6 to the Agreement; or (ii) an Opinion of Counsel reasonably satisfactory to the Certificate Registrar to the effect that such transfer may be made without registration under the Securities Act (which Opinion of Counsel shall not be an expense of the Trust Fund or of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar in their respective capacities as such), together with the written certification(s) as to the facts surrounding such transfer from the Certificateholder desiring to effect such transfer and/or such Certificateholder’s prospective transferee on which such Opinion of Counsel is based.  None of the Depositor, the Trustee, Paying Agent or the Certificate Registrar is obligated to register or qualify the Class J Certificates under the Securities Act
or any other securities law or to take any action not otherwise required under the Agreement to permit the transfer of any Class J Certificate without registration or qualification.  Any Class J Certificateholder desiring to effect such a transfer shall, and by the acceptance of its Class J Certificate agrees to, indemnify the Trustee, the Certificate Registrar, the Paying Agent and the Depositor against any liability that may result if the transfer is not so exempt or is not made in accordance with such federal and state laws.


                    No service charge will be imposed for any registration of transfer or exchange of Class J Certificates, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of Class J Certificates.


                    Notwithstanding the foregoing, for so long as this Certificate is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC, transfers of interests in this Certificate shall be made through the book-entry facilities of DTC.


                    The Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent and the Certificate Registrar and any agent of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar may treat the Person 


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in whose name this Certificate is registered as the owner hereof for all purposes whatsoever and none of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent, the Certificate Registrar, or any such agent shall be affected by notice to the contrary.


                    The Trust Fund and the obligations created by the Agreement shall terminate upon distribution (or provision for distribution) to the Certificateholders of all amounts held by or on behalf of the Trustee and required to be distributed to them pursuant to the Agreement following the earlier to occur of (i) the final payment (or any advance with respect thereto) or other liquidation of the last Mortgage Loan or REO Property remaining in the Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder at a price determined as provided in the Agreement of all Mortgage Loans and each REO Property remaining in the Trust Fund.  The Agreement permits, but does not require, the Master Servicer, the Special Servicer or the Majority Subordinate
Certificateholder to purchase from the Trust Fund all Mortgage Loans and each REO Property remaining therein.  The exercise of such right will effect early retirement of the Class J Certificates; however, such right to purchase is subject to the aggregate Stated Principal Balance of the Mortgage Pool at the time of purchase being less than 1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date specified on the face hereof.


                    In addition, any exchange by any Certificateholder of all of the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund may be made:  (i) if the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) are held by a single Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-5, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D, Class E, Class F Certificates and Class A-5FL Regular Interest have been paid in full.


                    The Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and obligations of the Depositor, the Master Servicer, the Special Servicer and the Trustee and the rights of the Certificateholders under the Agreement at any time by the Depositor, the Master Servicer, the Special Servicer and the Trustee with the consent of the Holders of Certificates entitled to at least 51% of the Voting Rights allocated to the affected Classes.  Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon this Certificate.  The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to maintain the status of the Trust Fund (or designated portions thereof) as consisting of two separate REMICs and one grantor trust, without the consent of the Holders of any of the Certificates.


                    Unless the certificate of authentication hereon has been executed by the Certificate Registrar, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.


                    The registered Holder hereof, by its acceptance hereof, agrees that it will look solely to the Trust Fund (to the extent of its rights therein) for distributions hereunder.


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                    This Certificate shall be construed in accordance with the internal laws of the State of New York applicable to agreements made and to be performed in said State, and the obligations, rights and remedies of the Holder hereof shall be determined in accordance with such laws.


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                    IN WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed.


Dated:  May 23, 2007

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Certificate Registrar
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
   
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




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CERTIFICATE OF AUTHENTICATION


                    This is one of the Class J Certificates referred to in the within-mentioned Agreement.

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Authenticating Agent
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
   
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




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ASSIGNMENT


                    FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto ________________________________________________________ (please print or typewrite name and address including postal zip code of assignee) the beneficial ownership interest in the Trust Fund evidenced by the within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the registration of transfer of such interest to assignee on the Certificate Register of the Trust Fund.


                    I (we) further direct the Certificate Registrar to issue a new Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and Class to the above named assignee and deliver such Commercial Mortgage Pass-Through Certificate to the following address:  __________________________________________________.


Dated:  _________________________


	
  
 
  	
  


  
	
  
 
  	
  
Signature by or on behalf of Assignor
  
	
  
 
  	
   
 
	
  
 
  	
   
 
	
  
 
  	
   
 
	
  
 
  	
  


  
	
  
 
  	
  
Signature Guaranteed
  




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DISTRIBUTION INSTRUCTIONS


                    The Assignee should include the following for purposes of distribution:


                    Distributions shall, if permitted, be made by wire transfer or otherwise, in immediately available funds, to _____________________________ for the account of _______________.


                    Distributions made by check (such check to be made payable to _____________________) and all applicable statements and notices should be mailed to _________________________.


                    This information is provided by ________________________________, the Assignee named above, or ____________________________________, as its agent.


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EXHIBIT A-19


FORM OF CLASS K CERTIFICATE


CLASS K COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
 SERIES 2007-C31


evidencing a beneficial ownership interest in a trust fund (the “Trust Fund”) consisting primarily of a pool of multifamily and commercial mortgage loans (the “Mortgage Loans”), such pool being formed and sold by


WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

	
  
Pass-Through   Rate:  5.962% per annum
  	
  
 
  	
  
Class Principal   Balance of the Class K Certificates as of the Closing Date: $65,762,000
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Date of   Pooling and Servicing Agreement: as of May 1, 2007
  	
  
 
  	
  
Initial   Certificate Principal Balance of this Class K Certificate as of the Closing   Date: $65,762,000
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Closing   Date: May 23, 2007
  	
  
 
  	
  
Aggregate   Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date:   $5,845,468,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  
First   Distribution Date:  June 15, 2007
  	
  
 
  	
  
 
  
	
   
  	
  
 
  	
  
 
  
	
  
Master   Servicer:  Wachovia Bank, National   Association
  	
  
 
  	
  
Trustee:   Wells Fargo Bank, N.A.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Special   Servicer:  LNR Partners, Inc.
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Certificate   No. K-1
  	
  
 
  	
  
CUSIP No.
  




UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION (“DTC”), TO THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.


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THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS, INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.  NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.


THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933 (THE “SECURITIES ACT”) OR THE SECURITIES LAWS OF ANY STATE.  ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION 5.02 OF THE AGREEMENT REFERRED TO HEREIN.


SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT” (A “REMIC”) AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986 (THE “CODE”).


THIS CERTIFICATE IS SUBORDINATE TO THE CLASS A-1 CERTIFICATES, THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-5 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE CLASS C CERTIFICATES, THE CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE CLASS F CERTIFICATES, THE CLASS G CERTIFICATES, THE CLASS H CERTIFICATES, THE CLASS J CERTIFICATES, THE CLASS IO CERTIFICATES AND THE CLASS A-5FL REGULAR INTEREST OF THE SAME SERIES TO THE EXTENT DESCRIBED IN THE AGREEMENT REFERRED TO HEREIN.


NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST THEREIN SHALL BE MADE TO ANY “EMPLOYEE BENEFIT PLAN” SUBJECT TO TITLE I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), ANY “PLAN” SUBJECT TO SECTION 4975 OF THE CODE, OR ANY OTHER RETIREMENT PLAN OR OTHER EMPLOYEE BENEFIT PLAN OR ARRANGEMENT SUBJECT TO ANY FEDERAL, STATE, LOCAL, OR OTHER LAW SUBSTANTIVELY SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE, OR ANY PERSON ACTING ON BEHALF OF OR WITH ANY ASSETS OF ANY SUCH PLAN (EACH, A “PLAN”) UNLESS IT IS AN ACCREDITED INVESTOR AS DEFINED IN RULE 501(A)(1) OR REGULATION D UNDER THE SECURITIES ACT. EACH PERSON WHO ACQUIRES THIS CERTIFICATE SHALL BE REQUIRED (OR, IN THE CASE OF A BOOK ENTRY CERTIFICATE, DEEMED) TO HAVE CERTIFIED THAT THE FOREGOING CONDITION IS SATISFIED, AND THAT IT WILL NOT TRANSFER THIS CERTIFICATE IN VIOLATION OF THE FOREGOING.


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IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-1 CERTIFICATES, THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-5 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE CLASS C CERTIFICATES, THE CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE CLASS F CERTIFICATES, THE CLASS G CERTIFICATES, THE CLASS H CERTIFICATES, THE CLASS J CERTIFICATES AND THE CLASS A-5FL REGULAR INTEREST OF THE SAME SERIES IS REDUCED TO ZERO, DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE MADE MONTHLY AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.  IN ADDITION, IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS L, CLASS M, CLASS N, CLASS O, CLASS P, CLASS Q,  CLASS S, CLASS T AND CLASS U CERTIFICATES OF

THE SAME SERIES IS REDUCED TO ZERO, THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE REDUCED BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE AGREEMENT REFERRED TO HEREIN.  ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.


                    This certifies that Cede & Co. is the registered owner of the Percentage Interest evidenced by this Class K Certificate (obtained by dividing the principal amount of this Class K Certificate (its “Certificate Principal Balance”) as of the Closing Date by the aggregate principal amount of all the Class K Certificates (their “Class Principal Balance”) as of the Closing Date) in that certain beneficial ownership interest evidenced by all the Class K Certificates in the Trust Fund created pursuant to a Pooling and Servicing Agreement, dated as specified above (the “Agreement”), among Wachovia Commercial Mortgage Securities, Inc. (herein called the “Depositor”, which term includes any successor entity under the Agreement), Wachovia Bank,
National Association (herein called the “Master Servicer”, which term includes any successor entity under the Agreement), LNR Partners, Inc. (herein called the “Special Servicer”, which term includes any successor entity under the Agreement) and Wells Fargo Bank, N.A. (herein called the “Trustee”, which term includes any successor entity under the Agreement), a summary of certain of the pertinent provisions of which is set forth hereafter.  To the extent not defined herein, the capitalized terms used herein have the respective meanings assigned in the Agreement.  This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound.


                    Pursuant to the terms of the Agreement, distributions will be made on the fourth Business Day following the related Determination Date (each, a “Distribution Date”).  The Determination Date is the 11th day of each month or, if such 11th day is not a Business Day, the Business Day immediately succeeding, commencing in June 2007 (each, a “Determination Date”).


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Distributions will be made commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the last Business Day of the month immediately preceding the month of such distribution (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount required to be distributed to the Holders of the Class K Certificates on the applicable Distribution Date pursuant to the Agreement.  All distributions made under the Agreement on the Class K Certificates will be made by Wells Fargo Bank, N.A., as paying agent (the “Paying Agent”), by wire transfer of immediately available funds to the account of the Person entitled thereto at a bank or other entity having appropriate facilities therefor, if such Certificateholder shall have provided the Paying Agent with wiring instructions no less
than five Business Days prior to the related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions), or otherwise by check mailed to the address of such Certificateholder as it appears in the Certificate Register.  Notwithstanding the foregoing, the final distribution on this Certificate (determined without regard to any possible future reimbursement of any Realized Loss or Additional Trust Fund Expense previously allocated to this Certificate) will be made in like manner, but only upon presentation and surrender of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to the Holder hereof of such final distribution.  Also notwithstanding the foregoing, any distribution that may be made with respect to this Certificate in reimbursement of any Realized Loss or Additional Trust Fund Expense previously allocated to this Certificate, which reimbursement is to occur after
the date on which this Certificate is surrendered as contemplated by the preceding sentence, will be made by check mailed to the address of the Holder that surrenders this Certificate as such address last appears in the Certificate Register or to any such other address of which the Paying Agent is subsequently notified in writing.


                    The Certificates are limited in right of distribution to certain collections and recoveries respecting the Mortgage Loans and REO Loans, all as more specifically set forth herein and in the Agreement.  As provided in the Agreement, withdrawals from the Certificate Account, the Distribution Account and, if established, the REO Account may be made from time to time for purposes other than, and, in certain cases, prior to, distributions to Certificateholders, such purposes including the reimbursement of Advances made, or certain expenses incurred, with respect to the Mortgage Loans and the payment of interest on such Advances and expenses.


                    Interest accrued on this Certificate during an Interest Accrual Period, plus any unpaid interest shortfall with respect to this Certificate for any prior Distribution Date, if any, will be payable on the related Distribution Date to the extent provided in the Agreement.  The “Interest Accrual Period” with respect to any Distribution Date and with respect to the Class K Certificates is the calendar month preceding the month in which such Distribution Date occurs and is assumed to consist of 30 days.


                    Any distribution to the Holder of this Certificate in reduction of the Certificate Principal Balance hereof is binding on such Holder and all future Holders of this Certificate and any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such distribution is made upon this Certificate.


A-19-4









                    The Class K Certificates are issuable in fully registered form only without coupons in minimum denominations specified in the Agreement.  As provided in the Agreement and subject to certain limitations therein set forth, the Class K Certificates are exchangeable for new Class K Certificates in authorized denominations evidencing the same aggregate Percentage Interest, as requested by the Holder surrendering the same.


                    As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices of the Certificate Registrar, duly endorsed by, or accompanied by a written instrument of transfer in the form satisfactory to the Certificate Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Class K Certificates in authorized denominations evidencing the same aggregate Percentage Interest will be issued to the designated transferee or transferees.


                    No transfer of any Class K Certificate shall be made unless that transfer is made pursuant to an effective registration statement under the Securities Act, and effective registration or qualification under applicable state securities laws, or is made in a transaction which does not require such registration or qualification.  If such a transfer is to be made without registration under the Securities Act (other than in connection with the initial issuance thereof or the initial transfer thereof by the Depositor, the Initial Purchaser or their respective affiliates), then the Certificate Registrar shall refuse to register such transfer unless it receives either: (i) a certificate from the Certificateholder desiring to effect such transfer substantially in the form attached as Exhibit F-1 to the Agreement, and a certificate from such
Certificateholder’s prospective transferee substantially in the form attached as either Exhibit F-2, Exhibit F-3, Exhibit F-4, Exhibit F-5 or Exhibit F-6 to the Agreement; or (ii) an Opinion of Counsel reasonably satisfactory to the Certificate Registrar to the effect that such transfer may be made without registration under the Securities Act (which Opinion of Counsel shall not be an expense of the Trust Fund or of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar in their respective capacities as such), together with the written certification(s) as to the facts surrounding such transfer from the Certificateholder desiring to effect such transfer and/or such Certificateholder’s prospective transferee on which such Opinion of Counsel is based.  None of the Depositor, the Trustee, the Paying Agent or the Certificate Registrar is obligated to register or qualify the Class K Certificates under the Securities
Act or any other securities law or to take any action not otherwise required under the Agreement to permit the transfer of any Class K Certificate without registration or qualification.  Any Class K Certificateholder desiring to effect such a transfer shall, and by the acceptance of its Class K Certificate agrees to, indemnify the Trustee, the Certificate Registrar, the Paying Agent and the Depositor against any liability that may result if the transfer is not so exempt or is not made in accordance with such federal and state laws.


                    No service charge will be imposed for any registration of transfer or exchange of Class K Certificates, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of Class K Certificates.


                    Notwithstanding the foregoing, for so long as this Certificate is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC, transfers of interests in this Certificate shall be made through the book-entry facilities of DTC.


A-19-5









                    The Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent and the Certificate Registrar and any agent of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes whatsoever and none of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent, the Certificate Registrar, or any such agent shall be affected by notice to the contrary.


                    The Trust Fund and the obligations created by the Agreement shall terminate upon distribution (or provision for distribution) to the Certificateholders of all amounts held by or on behalf of the Trustee and required to be distributed to them pursuant to the Agreement following the earlier to occur of (i) the final payment (or any advance with respect thereto) or other liquidation of the last Mortgage Loan or REO Property remaining in the Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder at a price determined as provided in the Agreement of all Mortgage Loans and each REO Property remaining in the Trust Fund.  The Agreement permits, but does not require, the Master Servicer, the Special Servicer or the Majority Subordinate
Certificateholder to purchase from the Trust Fund all Mortgage Loans and each REO Property remaining therein.  The exercise of such right will effect early retirement of the Class K Certificates; however, such right to purchase is subject to the aggregate Stated Principal Balance of the Mortgage Pool at the time of purchase being less than 1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date specified on the face hereof.


                    In addition, any exchange by any Certificateholder of all of the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund may be made:  (i) if the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) are held by a single Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-5, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D, Class E, Class F Certificates and Class A-5FL Regular Interest have been paid in full.


                    The Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and obligations of the Depositor, the Master Servicer, the Special Servicer and the Trustee and the rights of the Certificateholders under the Agreement at any time by the Depositor, the Master Servicer, the Special Servicer and the Trustee with the consent of the Holders of Certificates entitled to at least 51% of the Voting Rights allocated to the affected Classes.  Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon this Certificate.  The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to maintain the status of the Trust Fund (or designated portions thereof) as consisting of two separate REMICs and one grantor trust, without the consent of the Holders of any of the Certificates.


                    Unless the certificate of authentication hereon has been executed by the Certificate Registrar, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.


A-19-6









                    The registered Holder hereof, by its acceptance hereof, agrees that it will look solely to the Trust Fund (to the extent of its rights therein) for distributions hereunder.


                    This Certificate shall be construed in accordance with the internal laws of the State of New York applicable to agreements made and to be performed in said State, and the obligations, rights and remedies of the Holder hereof shall be determined in accordance with such laws.


A-19-7









                    IN WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed.


Dated:  May 23, 2007

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Certificate Registrar
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
   
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-19-8









CERTIFICATE OF AUTHENTICATION


                    This is one of the Class K Certificates referred to in the within-mentioned Agreement.

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Authenticating Agent
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
   
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-19-9









ASSIGNMENT


                    FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto ________________________________________________________ (please print or typewrite name and address including postal zip code of assignee) the beneficial ownership interest in the Trust Fund evidenced by the within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the registration of transfer of such interest to assignee on the Certificate Register of the Trust Fund.


                    I (we) further direct the Certificate Registrar to issue a new Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and Class to the above named assignee and deliver such Commercial Mortgage Pass-Through Certificate to the following address:  __________________________________________________.


Dated:  _________________________


	
  
 
  	
  


  
	
  
 
  	
  
Signature by or on behalf of Assignor
  
	
  
 
  	
   
 
	
  
 
  	
   
 
	
  
 
  	
   
 
	
  
 
  	
  


  
	
  
 
  	
  
Signature Guaranteed
  




A-19-10









DISTRIBUTION INSTRUCTIONS


                    The Assignee should include the following for purposes of distribution:


                    Distributions shall, if permitted, be made by wire transfer or otherwise, in immediately available funds, to _____________________________ for the account of _______________.


                    Distributions made by check (such check to be made payable to _____________________) and all applicable statements and notices should be mailed to _________________________.


                    This information is provided by ________________________________, the Assignee named above, or ____________________________________, as its agent.


A-19-11









EXHIBIT A-20


FORM OF CLASS L CERTIFICATE


CLASS L COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
 SERIES 2007-C31


evidencing a beneficial ownership interest in a trust fund (the “Trust Fund”) consisting primarily of a pool of multifamily and commercial mortgage loans (the “Mortgage Loans”), such pool being formed and sold by


WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

	
  
Pass-Through   Rate:  5.134% per annum
  	
  
 
  	
  
Class Principal   Balance of the Class L Certificates as of the Closing Date: $29,227,000
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Date of   Pooling and Servicing Agreement: as of May 1, 2007
  	
  
 
  	
  
Initial   Certificate Principal Balance of this Class L Certificate as of the   Closing Date: $29,227,000
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Closing   Date:  May 23, 2007
  	
  
 
  	
  
Aggregate   Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date:   $5,845,468,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  
First   Distribution Date:  June 15, 2007
  	
  
 
  	
  
 
  
	
   
  	
  
 
  	
  
 
  
	
  
Master   Servicer:  Wachovia Bank, National   Association
  	
  
 
  	
  
Trustee:   Wells Fargo Bank, N.A.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Special   Servicer:  LNR Partners, Inc.
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Certificate   No. L-1
  	
  
 
  	
  
CUSIP No.
  




UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION (“DTC”), TO THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.


A-20-1









THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS, INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.  NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.


THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933 (THE “SECURITIES ACT”) OR THE SECURITIES LAWS OF ANY STATE.  ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION 5.02 OF THE AGREEMENT REFERRED TO HEREIN.


SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT” (A “REMIC”) AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986 (THE “CODE”).


THIS CERTIFICATE IS SUBORDINATE TO THE CLASS A-1 CERTIFICATES, THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-5 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE CLASS C CERTIFICATES, THE CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE CLASS F CERTIFICATES, THE CLASS G CERTIFICATES, THE CLASS H CERTIFICATES, THE CLASS J CERTIFICATES, THE CLASS K CERTIFICATES, THE CLASS IO CERTIFICATES AND THE CLASS A-5FL REGULAR INTEREST OF THE SAME SERIES TO THE EXTENT DESCRIBED IN THE AGREEMENT REFERRED TO HEREIN.


NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST THEREIN SHALL BE MADE TO ANY PERSON WHO IS, OR IS ACTING ON BEHALF OF OR WITH ANY ASSETS OF, ANY EMPLOYEE BENEFIT PLAN SUBJECT TO THE FIDUCIARY DUTY PROVISIONS OF TITLE I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), ANY PLAN TO WHICH SECTION 4975 OF THE CODE APPLIES, OR ANY OTHER PLAN OR ARRANGEMENT SUBJECT TO ANY FEDERAL, STATE, OR LOCAL LAW SUBSTANTIVELY SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE, OR ANY ENTITY DEEMED TO HOLD PLAN ASSETS OF THE FOREGOING BY REASON OF A PLAN’S INVESTMENT IN SUCH ENTITY (EACH, A “PLAN”) UNLESS IT IS AN INSURANCE COMPANY GENERAL ACCOUNT THAT IS ELIGIBLE FOR, AND SATISFIES ALL OF THE REQUIREMENTS FOR, EXEMPTIVE RELIEF UNDER SECTIONS I AND III OF DEPARTMENT OF LABOR PROHIBITED


A-20-2









TRANSACTION CLASS EXEMPTION 95-60. EACH PERSON WHO ACQUIRES THIS CERTIFICATE SHALL BE REQUIRED (OR, IN THE CASE OF A BOOK--ENTRY CERTIFICATE, DEEMED) TO HAVE CERTIFIED THAT THE FOREGOING CONDITIONS ARE SATISFIED, AND THAT IT WILL NOT TRANSFER THIS CERTIFICATE IN VIOLATION OF THE FOREGOING.


IF THE AGGREGATE CERTIFICATE PRINCIPLE BALANCE OF THE CLASS A-1 CERTIFICATES, THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-5 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE CLASS C CERTIFICATES, THE CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE CLASS F CERTIFICATES, THE CLASS G CERTIFICATES, THE CLASS H CERTIFICATES, THE CLASS J CERTIFICATES, THE CLASS K CERTIFICATES AND THE CLASS A-5FL REGULAR INTEREST OF THE SAME SERIES IS REDUCED TO ZERO, DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE MADE MONTHLY AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.  IN ADDITION, IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS M, CLASS N, CLASS O, CLASS P, CLASS Q, CLASS S CERTIFICATES, CLASS T
CERTIFICATES AND CLASS U CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE REDUCED BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE AGREEMENT REFERRED TO HEREIN.  ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.


                    This certifies that Cede & Co. is the registered owner of the Percentage Interest evidenced by this Class L Certificate (obtained by dividing the principal amount of this Class L Certificate (its “Certificate Principal Balance”) as of the Closing Date by the aggregate principal amount of all the Class L Certificates (their “Class Principal Balance”) as of the Closing Date) in that certain beneficial ownership interest evidenced by all the Class L Certificates in the Trust Fund created pursuant to a Pooling and Servicing Agreement, dated as specified above (the “Agreement”), among Wachovia Commercial Mortgage Securities, Inc. (herein called the “Depositor”, which term includes any successor entity under the Agreement), Wachovia Bank,
National Association (herein called the “Master Servicer”, which term includes any successor entity under the Agreement), LNR Partners, Inc. (herein called the “Special Servicer”, which term includes any successor entity under the Agreement) and Wells Fargo Bank, N.A. (herein called the “Trustee”, which term includes any successor entity under the Agreement), a summary of certain of the pertinent provisions of which is set forth hereafter.  To the extent not defined herein, the capitalized terms used herein have the respective meanings assigned in the Agreement.  This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound.


A-20-3









                    Pursuant to the terms of the Agreement, distributions will be made on the fourth Business Day following the related Determination Date (each, a “Distribution Date”).  The Determination Date is the 11th day of each month or, if such 11th day is not a Business Day, the Business Day immediately succeeding, commencing in June 2007 (each, a “Determination Date”).  Distributions will be made commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the last Business Day of the month immediately preceding the month of such distribution (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount required to be distributed to the Holders of
the Class L Certificates on the applicable Distribution Date pursuant to the Agreement.  All distributions made under the Agreement on the Class L Certificates will be made by Wells Fargo Bank, N.A., as paying agent (the “Paying Agent”), by wire transfer of immediately available funds to the account of the Person entitled thereto at a bank or other entity having appropriate facilities therefor, if such Certificateholder shall have provided the Paying Agent with wiring instructions no less than five Business Days prior to the related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions), or otherwise by check mailed to the address of such Certificateholder as it appears in the Certificate Register.  Notwithstanding the foregoing, the final distribution on this Certificate (determined without regard to any possible future reimbursement of any Realized Loss or Additional Trust Fund Expense previously
allocated to this Certificate) will be made in like manner, but only upon presentation and surrender of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to the Holder hereof of such final distribution.  Also notwithstanding the foregoing, any distribution that may be made with respect to this Certificate in reimbursement of any Realized Loss or Additional Trust Fund Expense previously allocated to this Certificate, which reimbursement is to occur after the date on which this Certificate is surrendered as contemplated by the preceding sentence, will be made by check mailed to the address of the Holder that surrenders this Certificate as such address last appears in the Certificate Register or to any such other address of which the Paying Agent is subsequently notified in writing.


                    The Certificates are limited in right of distribution to certain collections and recoveries respecting the Mortgage Loans and REO Loans, all as more specifically set forth herein and in the Agreement.  As provided in the Agreement, withdrawals from the Certificate Account, the Distribution Account and, if established, the REO Account may be made from time to time for purposes other than, and, in certain cases, prior to, distributions to Certificateholders, such purposes including the reimbursement of Advances made, or certain expenses incurred, with respect to the Mortgage Loans  and the payment of interest on such Advances and expenses.


                    Interest accrued on this Certificate during an Interest Accrual Period, plus any unpaid interest shortfall with respect to this Certificate for any prior Distribution Date, if any, will be payable on the related Distribution Date to the extent provided in the Agreement.  The “Interest Accrual Period” with respect to any Distribution Date and with respect to the Class L Certificates is the calendar month preceding the month in which such Distribution Date occurs and is assumed to consist of 30 days.


                    Any distribution to the Holder of this Certificate in reduction of the Certificate Principal Balance hereof is binding on such Holder and all future Holders of this Certificate and any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such distribution is made upon this Certificate.


A-20-4









                    The Class L Certificates are issuable in fully registered form only without coupons in minimum denominations specified in the Agreement.  As provided in the Agreement and subject to certain limitations therein set forth, the Class L Certificates are exchangeable for new Class L Certificates in authorized denominations evidencing the same aggregate Percentage Interest, as requested by the Holder surrendering the same.


                    As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices of the Certificate Registrar, duly endorsed by, or accompanied by a written instrument of transfer in the form satisfactory to the Certificate Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Class L Certificates in authorized denominations evidencing the same aggregate Percentage Interest will be issued to the designated transferee or transferees.


                    No transfer of any Class L Certificate shall be made unless that transfer is made pursuant to an effective registration statement under the Securities Act, and effective registration or qualification under applicable state securities laws, or is made in a transaction which does not require such registration or qualification.  If such a transfer is to be made without registration under the Securities Act (other than in connection with the initial issuance thereof or the initial transfer thereof by the Depositor, the Initial Purchaser or their respective affiliates), then the Certificate Registrar shall refuse to register such transfer unless it receives either: (i) a certificate from the Certificateholder desiring to effect such transfer substantially in the form attached as Exhibit F-1 to the Agreement, and a certificate from such
Certificateholder’s prospective transferee substantially in the form attached as either Exhibit F-2, Exhibit F-3, Exhibit F-4, Exhibit F-5 or Exhibit F-6 to the Agreement; or (ii) an Opinion of Counsel reasonably satisfactory to the Certificate Registrar to the effect that such transfer may be made without registration under the Securities Act (which Opinion of Counsel shall not be an expense of the Trust Fund or of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar in their respective capacities as such), together with the written certification(s) as to the facts surrounding such transfer from the Certificateholder desiring to effect such transfer and/or such Certificateholder’s prospective transferee on which such Opinion of Counsel is based.  None of the Depositor, the Trustee, Paying Agent or the Certificate Registrar is obligated to register or qualify the Class L Certificates under the Securities Act
or any other securities law or to take any action not otherwise required under the Agreement to permit the transfer of any Class L Certificate without registration or qualification.  Any Class L Certificateholder desiring to effect such a transfer shall, and by the acceptance of its Class L Certificate agrees to, indemnify the Trustee, the Certificate Registrar, the Paying Agent and the Depositor against any liability that may result if the transfer is not so exempt or is not made in accordance with such federal and state laws.


                    No service charge will be imposed for any registration of transfer or exchange of Class L Certificates, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of Class L Certificates.


A-20-5









                    Notwithstanding the foregoing, for so long as this Certificate is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC, transfers of interests in this Certificate shall be made through the book-entry facilities of DTC.


                    The Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent and the Certificate Registrar and any agent of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes whatsoever and none of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent, the Certificate Registrar, or any such agent shall be affected by notice to the contrary.


                    The Trust Fund and the obligations created by the Agreement shall terminate upon distribution (or provision for distribution) to the Certificateholders of all amounts held by or on behalf of the Trustee and required to be distributed to them pursuant to the Agreement following the earlier to occur of (i) the final payment (or any advance with respect thereto) or other liquidation of the last Mortgage Loan or REO Property remaining in the Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder at a price determined as provided in the Agreement of all Mortgage Loans and each REO Property remaining in the Trust Fund.  The Agreement permits, but does not require, the Master Servicer, the Special Servicer or the Majority Subordinate
Certificateholder to purchase from the Trust Fund all Mortgage Loans and each REO Property remaining therein.  The exercise of such right will effect early retirement of the Class L Certificates; however, such right to purchase is subject to the aggregate Stated Principal Balance of the Mortgage Pool at the time of purchase being less than 1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date specified on the face hereof.


                    In addition, any exchange by any Certificateholder of all of the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund may be made:  (i) if the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) are held by a single Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-5, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D, Class E, Class F Certificates and Class A-5FL Regular Interest have been paid in full.


                    The Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and obligations of the Depositor, the Master Servicer, the Special Servicer and the Trustee and the rights of the Certificateholders under the Agreement at any time by the Depositor, the Master Servicer, the Special Servicer and the Trustee with the consent of the Holders of Certificates entitled to at least 51% of the Voting Rights allocated to the affected Classes.  Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon this Certificate.  The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to maintain the status of the Trust Fund (or designated portions thereof) as consisting of two separate REMICs and one grantor trust, without the consent of the Holders of any of the Certificates.


A-20-6









                    Unless the certificate of authentication hereon has been executed by the Certificate Registrar, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.


                    The registered Holder hereof, by its acceptance hereof, agrees that it will look solely to the Trust Fund (to the extent of its rights therein) for distributions hereunder.


                    This Certificate shall be construed in accordance with the internal laws of the State of New York applicable to agreements made and to be performed in said State, and the obligations, rights and remedies of the Holder hereof shall be determined in accordance with such laws.


A-20-7









                    IN WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed.


Dated:  May 23,  2007

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Certificate Registrar
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
   
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-20-8









CERTIFICATE OF AUTHENTICATION


                    This is one of the Class L Certificates referred to in the within-mentioned Agreement.

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Authenticating Agent
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
   
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-20-9









ASSIGNMENT


                    FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto ________________________________________________________ (please print or typewrite name and address including postal zip code of assignee) the beneficial ownership interest in the Trust Fund evidenced by the within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the registration of transfer of such interest to assignee on the Certificate Register of the Trust Fund.


                    I (we) further direct the Certificate Registrar to issue a new Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and Class to the above named assignee and deliver such Commercial Mortgage Pass-Through Certificate to the following address:  __________________________________________________.


Dated:  _________________________

	
   
  	
  


  
	
  
 
  	
  
Signature by or on behalf of Assignor
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  


  
	
  
 
  	
  
Signature Guaranteed
  




A-20-10









DISTRIBUTION INSTRUCTIONS


                    The Assignee should include the following for purposes of distribution:


                    Distributions shall, if permitted, be made by wire transfer or otherwise, in immediately available funds, to _____________________________ for the account of _______________.


                    Distributions made by check (such check to be made payable to _____________________) and all applicable statements and notices should be mailed to _________________________.


                    This information is provided by ________________________________, the Assignee named above, or ____________________________________, as its agent.


A-20-11









EXHIBIT A-21


FORM OF CLASS M CERTIFICATE


CLASS M COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
 SERIES 2007-C31


evidencing a beneficial ownership interest in a trust fund (the “Trust Fund”) consisting primarily of a pool of multifamily and commercial mortgage loans (the “Mortgage Loans”), such pool being formed and sold by


WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

	
  
Pass-Through   Rate:  5.134% per annum
  	
  
 
  	
  
Class Principal   Balance of the Class M Certificates as of the Closing Date: $14,614,000
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Date of   Pooling and Servicing Agreement: as of May 1, 2007
  	
  
 
  	
  
Initial   Certificate Principal Balance of this Class M Certificate as of the Closing   Date: $14,614,000
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Closing   Date:  May 23, 2007
  	
  
 
  	
  
Aggregate   Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date:   $5,845,468,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  
First   Distribution Date:  June 15, 2007
  	
  
 
  	
  
 
  
	
   
  	
  
 
  	
  
 
  
	
  
Master   Servicer:  Wachovia Bank, National   Association
  	
  
 
  	
  
Trustee:   Wells Fargo Bank, N.A.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Special   Servicer:  LNR Partners, Inc.
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Certificate   No. M-1
  	
  
 
  	
  
CUSIP No.
  




UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION (“DTC”), TO THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.


A-21-1









THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS, INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.  NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.


THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933 (THE “SECURITIES ACT”) OR THE SECURITIES LAWS OF ANY STATE.  ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION 5.02 OF THE AGREEMENT REFERRED TO HEREIN.


SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT” (A “REMIC”) AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986 (THE “CODE”).


THIS CERTIFICATE IS SUBORDINATE TO THE CLASS A-1 CERTIFICATES, THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-5 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE CLASS C CERTIFICATES, THE CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE CLASS F CERTIFICATES, THE CLASS G CERTIFICATES, THE CLASS H CERTIFICATES, THE CLASS J CERTIFICATES, THE CLASS K CERTIFICATES, THE CLASS L CERTIFICATES, THE CLASS IO CERTIFICATES AND THE CLASS A-5FL REGULAR INTEREST OF THE SAME SERIES TO THE EXTENT DESCRIBED IN THE AGREEMENT REFERRED TO HEREIN.


NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST THEREIN SHALL BE MADE TO ANY PERSON WHO IS, OR IS ACTING ON BEHALF OF OR WITH ANY ASSETS OF, ANY EMPLOYEE BENEFIT PLAN SUBJECT TO THE FIDUCIARY DUTY PROVISIONS OF TITLE I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), ANY PLAN TO WHICH SECTION 4975 OF THE CODE APPLIES, OR ANY OTHER PLAN OR ARRANGEMENT SUBJECT TO ANY FEDERAL, STATE, OR LOCAL LAW SUBSTANTIVELY SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE, OR ANY ENTITY DEEMED TO HOLD PLAN ASSETS OF THE FOREGOING BY REASON OF A PLAN’S INVESTMENT IN SUCH ENTITY (EACH, A “PLAN”) UNLESS IT IS AN INSURANCE COMPANY GENERAL ACCOUNT THAT IS ELIGIBLE FOR, AND SATISFIES ALL OF THE REQUIREMENTS FOR, EXEMPTIVE RELIEF UNDER SECTIONS I AND III OF DEPARTMENT OF LABOR PROHIBITED


A-21-2









TRANSACTION CLASS EXEMPTION 95-60. EACH PERSON WHO ACQUIRES THIS CERTIFICATE SHALL BE REQUIRED (OR, IN THE CASE OF A BOOK--ENTRY CERTIFICATE, DEEMED) TO HAVE CERTIFIED THAT THE FOREGOING CONDITIONS ARE SATISFIED, AND THAT IT WILL NOT TRANSFER THIS CERTIFICATE IN VIOLATION OF THE FOREGOING.


IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-1 CERTIFICATES, THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-5 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE CLASS C CERTIFICATES, THE CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE CLASS F CERTIFICATES, THE CLASS G CERTIFICATES, THE CLASS H CERTIFICATES, THE CLASS J CERTIFICATES, THE CLASS K CERTIFICATES, THE CLASS L CERTIFICATES AND THE CLASS A-5FL REGULAR INTERST OF THE SAME SERIES IS REDUCED TO ZERO, DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE MADE MONTHLY AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.  IN ADDITION, IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS N, CLASS O, CLASS P, CLASS Q, CLASS S, CLASS T AND CLASS
U CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE REDUCED BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE AGREEMENT REFERRED TO HEREIN.  ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.


                    This certifies that Cede & Co. is the registered owner of the Percentage Interest evidenced by this Class M Certificate (obtained by dividing the principal amount of this Class M Certificate (its “Certificate Principal Balance”) as of the Closing Date by the aggregate principal amount of all the Class M Certificates (their “Class Principal Balance”) as of the Closing Date) in that certain beneficial ownership interest evidenced by all the Class M Certificates in the Trust Fund created pursuant to a Pooling and Servicing Agreement, dated as specified above (the “Agreement”), among Wachovia Commercial Mortgage Securities, Inc. (herein called the “Depositor”, which term includes any successor entity under the Agreement), Wachovia Bank,
National Association (herein called the “Master Servicer”, which term includes any successor entity under the Agreement), LNR Partners, Inc. (herein called the “Special Servicer”, which term includes any successor entity under the Agreement) and Wells Fargo Bank, N.A. (herein called the “Trustee”, which term includes any successor entity under the Agreement), a summary of certain of the pertinent provisions of which is set forth hereafter.  To the extent not defined herein, the capitalized terms used herein have the respective meanings assigned in the Agreement.  This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound.


A-21-3









                    Pursuant to the terms of the Agreement, distributions will be made on the fourth Business Day following the related Determination Date (each, a “Distribution Date”).  The Determination Date is the 11th day of each month or, if such 11th day is not a Business Day, the Business Day immediately succeeding, commencing in June 2007 (each, a “Determination Date”).  Distributions will be made commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the last Business Day of the month immediately preceding the month of such distribution (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount required to be distributed to the Holders of
the Class M Certificates on the applicable Distribution Date pursuant to the Agreement.  All distributions made under the Agreement on the Class M Certificates will be made by Wells Fargo Bank, N.A., as paying agent (the “Paying Agent”), by wire transfer of immediately available funds to the account of the Person entitled thereto at a bank or other entity having appropriate facilities therefor, if such Certificateholder shall have provided the Paying Agent with wiring instructions no less than five Business Days prior to the related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions), or otherwise by check mailed to the address of such Certificateholder as it appears in the Certificate Register.  Notwithstanding the foregoing, the final distribution on this Certificate (determined without regard to any possible future reimbursement of any Realized Loss or Additional Trust Fund Expense previously
allocated to this Certificate) will be made in like manner, but only upon presentation and surrender of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to the Holder hereof of such final distribution.  Also notwithstanding the foregoing, any distribution that may be made with respect to this Certificate in reimbursement of any Realized Loss or Additional Trust Fund Expense previously allocated to this Certificate, which reimbursement is to occur after the date on which this Certificate is surrendered as contemplated by the preceding sentence, will be made by check mailed to the address of the Holder that surrenders this Certificate as such address last appears in the Certificate Register or to any such other address of which the Paying Agent is subsequently notified in writing. 


                    The Certificates are limited in right of distribution to certain collections and recoveries respecting the Mortgage Loans and REO Loans, all as more specifically set forth herein and in the Agreement.  As provided in the Agreement, withdrawals from the Certificate Account, the Distribution Account and, if established, the REO Account may be made from time to time for purposes other than, and, in certain cases, prior to, distributions to Certificateholders, such purposes including the reimbursement of Advances made, or certain expenses incurred, with respect to the Mortgage Loans and the payment of interest on such Advances and expenses.


                    Interest accrued on this Certificate during an Interest Accrual Period, plus any unpaid interest shortfall with respect to this Certificate for any prior Distribution Date, if any, will be payable on the related Distribution Date to the extent provided in the Agreement.  The “Interest Accrual Period” with respect to any Distribution Date and with respect to the Class M Certificates is the calendar month preceding the month in which such Distribution Date occurs and is assumed to consist of 30 days.


                    Any distribution to the Holder of this Certificate in reduction of the Certificate Principal Balance hereof is binding on such Holder and all future Holders of this Certificate and any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such distribution is made upon this Certificate.


A-21-4









                    The Class M Certificates are issuable in fully registered form only without coupons in minimum denominations specified in the Agreement.  As provided in the Agreement and subject to certain limitations therein set forth, the Class M Certificates are exchangeable for new Class M Certificates in authorized denominations evidencing the same aggregate Percentage Interest, as requested by the Holder surrendering the same.


                    As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices of the Certificate Registrar, duly endorsed by, or accompanied by a written instrument of transfer in the form satisfactory to the Certificate Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Class M Certificates in authorized denominations evidencing the same aggregate Percentage Interest will be issued to the designated transferee or transferees.


                    No transfer of any Class M Certificate shall be made unless that transfer is made pursuant to an effective registration statement under the Securities Act, and effective registration or qualification under applicable state securities laws, or is made in a transaction which does not require such registration or qualification.  If such a transfer is to be made without registration under the Securities Act (other than in connection with the initial issuance thereof or the initial transfer thereof by the Depositor, the Initial Purchaser or their respective affiliates), then the Certificate Registrar shall refuse to register such transfer unless it receives either: (i) a certificate from the Certificateholder desiring to effect such transfer substantially in the form attached as Exhibit F-1 to the Agreement, and a certificate from such
Certificateholder’s prospective transferee substantially in the form attached as either Exhibit F-2, Exhibit F-3, Exhibit F-4, Exhibit F-5 or Exhibit F-6 to the Agreement; or (ii) an Opinion of Counsel reasonably satisfactory to the Certificate Registrar to the effect that such transfer may be made without registration under the Securities Act (which Opinion of Counsel shall not be an expense of the Trust Fund or of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar in their respective capacities as such), together with the written certification(s) as to the facts surrounding such transfer from the Certificateholder desiring to effect such transfer and/or such Certificateholder’s prospective transferee on which such Opinion of Counsel is based.  None of the Depositor, the Trustee, the Paying Agent or the Certificate Registrar is obligated to register or qualify the Class M Certificates under the Securities
Act or any other securities law or to take any action not otherwise required under the Agreement to permit the transfer of any Class M Certificate without registration or qualification.  Any Class M Certificateholder desiring to effect such a transfer shall, and by the acceptance of its Class M Certificate agrees to, indemnify the Trustee, the Certificate Registrar, the Paying Agent and the Depositor against any liability that may result if the transfer is not so exempt or is not made in accordance with such federal and state laws.


                    No service charge will be imposed for any registration of transfer or exchange of Class M Certificates, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of Class M Certificates.


A-21-5









                    Notwithstanding the foregoing, for so long as this Certificate is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC, transfers of interests in this Certificate shall be made through the book-entry facilities of DTC.


                    The Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent and the Certificate Registrar and any agent of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes whatsoever and none of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent, the Certificate Registrar, or any such agent shall be affected by notice to the contrary.


                    The Trust Fund and the obligations created by the Agreement shall terminate upon distribution (or provision for distribution) to the Certificateholders of all amounts held by or on behalf of the Trustee and required to be distributed to them pursuant to the Agreement following the earlier to occur of (i) the final payment (or any advance with respect thereto) or other liquidation of the last Mortgage Loan or REO Property remaining in the Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder at a price determined as provided in the Agreement of all Mortgage Loans and each REO Property remaining in the Trust Fund.  The Agreement permits, but does not require, the Master Servicer, the Special Servicer or the Majority Subordinate
Certificateholder to purchase from the Trust Fund all Mortgage Loans and each REO Property remaining therein.  The exercise of such right will effect early retirement of the Class M Certificates; however, such right to purchase is subject to the aggregate Stated Principal Balance of the Mortgage Pool at the time of purchase being less than 1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date specified on the face hereof.


                    In addition, any exchange by any Certificateholder of all of the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund may be made:  (i) if the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) are held by a single Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-5, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D, Class E, Class F Certificates and Class A-5FL Regular Interest have been paid in full.


                    The Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and obligations of the Depositor, the Master Servicer, the Special Servicer and the Trustee and the rights of the Certificateholders under the Agreement at any time by the Depositor, the Master Servicer, the Special Servicer and the Trustee with the consent of the Holders of Certificates entitled to at least 51% of the Voting Rights allocated to the affected Classes.  Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon this Certificate.  The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to maintain the status of the Trust Fund (or designated portions thereof) as consisting of two separate REMICs and one grantor trust, without the consent of the Holders of any of the Certificates.


A-21-6









                    Unless the certificate of authentication hereon has been executed by the Certificate Registrar, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.


                    The registered Holder hereof, by its acceptance hereof, agrees that it will look solely to the Trust Fund (to the extent of its rights therein) for distributions hereunder.


                    This Certificate shall be construed in accordance with the internal laws of the State of New York applicable to agreements made and to be performed in said State, and the obligations, rights and remedies of the Holder hereof shall be determined in accordance with such laws.


A-21-7









                    IN WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed.


Dated:  May 23, 2007

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Certificate Registrar
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
   
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-21-8









CERTIFICATE OF AUTHENTICATION


                    This is one of the Class M Certificates referred to in the within-mentioned Agreement.

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Authenticating Agent
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
   
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-21-9









ASSIGNMENT


                    FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto ________________________________________________________ (please print or typewrite name and address including postal zip code of assignee) the beneficial ownership interest in the Trust Fund evidenced by the within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the registration of transfer of such interest to assignee on the Certificate Register of the Trust Fund.


                    I (we) further direct the Certificate Registrar to issue a new Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and Class to the above named assignee and deliver such Commercial Mortgage Pass-Through Certificate to the following address:  __________________________________________________.


Dated:  _________________________

	
   
  	
  


  
	
  
 
  	
  
Signature by or on behalf of Assignor
  
	
  
 
  	
   
 
	
  
 
  	
   
 
	
  
 
  	
   
 
	
  
 
  	
  


  
	
  
 
  	
  
Signature Guaranteed
  




A-21-10









DISTRIBUTION INSTRUCTIONS


                    The Assignee should include the following for purposes of distribution:


                    Distributions shall, if permitted, be made by wire transfer or otherwise, in immediately available funds, to _____________________________ for the account of _______________.


                    Distributions made by check (such check to be made payable to _____________________) and all applicable statements and notices should be mailed to _________________________.


                    This information is provided by ________________________________, the Assignee named above, or ____________________________________, as its agent.


A-21-11









EXHIBIT A-22


FORM OF CLASS N CERTIFICATE


CLASS N COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
 SERIES 2007-C31


evidencing a beneficial ownership interest in a trust fund (the “Trust Fund”) consisting primarily of a pool of multifamily and commercial mortgage loans (the “Mortgage Loans”), such pool being formed and sold by


WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

	
  
Pass-Through   Rate:  5.134% per annum
  	
  
 
  	
  
Class Principal   Balance of the Class N Certificates as of the Closing Date: $21,921,000
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Date of   Pooling and Servicing Agreement: as of May 1, 2007
  	
  
 
  	
  
Initial   Certificate Principal Balance of this Class N Certificate as of the   Closing Date: $21,921,000
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Closing   Date:  May 23, 2007
  	
  
 
  	
  
Aggregate   Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date:   $5,845,468,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  
First   Distribution Date: June 15, 2007
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  Master   Servicer:  Wachovia Bank, National   Association
  	
  
 
  	
  
Trustee:   Wells Fargo Bank, N.A.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Special   Servicer:  LNR Partners, Inc.
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Certificate   No. N-1
  	
  
 
  	
  
CUSIP No.
  




UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION (“DTC”), TO THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.


A-22-1









THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS, INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.  NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.


THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933 (THE “SECURITIES ACT”) OR THE SECURITIES LAWS OF ANY STATE.  ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION 5.02 OF THE AGREEMENT REFERRED TO HEREIN.


SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT” (A “REMIC”) AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986 (THE “CODE”).


THIS CERTIFICATE IS SUBORDINATE TO THE CLASS A-1 CERTIFICATES, THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-5 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE CLASS C CERTIFICATES, THE CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE CLASS F CERTIFICATES, THE CLASS G CERTIFICATES, THE CLASS H CERTIFICATES, THE CLASS J CERTIFICATES, THE CLASS K CERTIFICATES, THE CLASS L CERTIFICATES, THE CLASS M CERTIFICATES, THE CLASS IO CERTIFICATES AND THE CLASS A-5FL REGULAR INTEREST OF THE SAME SERIES TO THE EXTENT DESCRIBED IN THE AGREEMENT REFERRED TO HEREIN.


NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST THEREIN SHALL BE MADE TO ANY PERSON WHO IS, OR IS ACTING ON BEHALF OF OR WITH ANY ASSETS OF, ANY EMPLOYEE BENEFIT PLAN SUBJECT TO THE FIDUCIARY DUTY PROVISIONS OF TITLE I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), ANY PLAN TO WHICH SECTION 4975 OF THE CODE APPLIES, OR ANY OTHER PLAN OR ARRANGEMENT SUBJECT TO ANY FEDERAL, STATE, OR LOCAL LAW SUBSTANTIVELY SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE, OR ANY ENTITY DEEMED TO HOLD PLAN ASSETS OF THE FOREGOING BY REASON OF A PLAN’S INVESTMENT IN SUCH ENTITY (EACH, A “PLAN”) UNLESS IT IS AN INSURANCE COMPANY GENERAL ACCOUNT THAT IS ELIGIBLE FOR, AND SATISFIES ALL OF THE REQUIREMENTS FOR, EXEMPTIVE


A-22-2









RELIEF UNDER SECTIONS I AND III OF DEPARTMENT OF LABOR PROHIBITED TRANSACTION CLASS EXEMPTION 95-60. EACH PERSON WHO ACQUIRES THIS CERTIFICATE SHALL BE REQUIRED (OR, IN THE CASE OF A BOOK--ENTRY CERTIFICATE, DEEMED) TO HAVE CERTIFIED THAT THE FOREGOING CONDITIONS ARE SATISFIED, AND THAT IT WILL NOT TRANSFER THIS CERTIFICATE IN VIOLATION OF THE FOREGOING.


IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-1 CERTIFICATES, THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-5 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE CLASS C CERTIFICATES, THE CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE CLASS F CERTIFICATES, THE CLASS G CERTIFICATES, THE CLASS H CERTIFICATES, THE CLASS J CERTIFICATES, THE CLASS K CERTIFICATES, THE CLASS L CERTIFICATES, THE CLASS M CERTIFICATES AND THE CLASS A-5FL REGULAR INTEREST OF THE SAME SERIES IS REDUCED TO ZERO, DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE MADE MONTHLY AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.  IN ADDITION, IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS O, CLASS P, CLASS Q, CLASS S, CLASS

T AND CLASS U CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE REDUCED BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE AGREEMENT REFERRED TO HEREIN.  ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.


                    This certifies that Cede & Co. is the registered owner of the Percentage Interest evidenced by this Class N Certificate (obtained by dividing the principal amount of this Class N Certificate (its “Certificate Principal Balance”) as of the Closing Date by the aggregate principal amount of all the Class N Certificates (their “Class Principal Balance”) as of the Closing Date) in that certain beneficial ownership interest evidenced by all the Class N Certificates in the Trust Fund created pursuant to a Pooling and Servicing Agreement, dated as specified above (the “Agreement”), among Wachovia Commercial Mortgage Securities, Inc. (herein called the “Depositor”, which term includes any successor entity under the Agreement), Wachovia Bank,
National Association (herein called the “Master Servicer”, which term includes any successor entity under the Agreement), LNR Partners, Inc. (herein called the “Special Servicer”, which term includes any successor entity under the Agreement) and Wells Fargo Bank, N.A. (herein called the “Trustee”, which term includes any successor entity under the Agreement), a summary of certain of the pertinent provisions of which is set forth hereafter.  To the extent not defined herein, the capitalized terms used herein have the respective meanings assigned in the Agreement.  This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound.


A-22-3









                    Pursuant to the terms of the Agreement, distributions will be made on the fourth Business Day following the related Determination Date (each, a “Distribution Date”).  The Determination Date is the 11th day of each month or, if such 11th day is not a Business Day, the Business Day immediately succeeding, commencing in June 2007 (each, a “Determination Date”).  Distributions will be made commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the last Business Day of the month immediately preceding the month of such distribution (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount required to be distributed to the Holders of
the Class N Certificates on the applicable Distribution Date pursuant to the Agreement.  All distributions made under the Agreement on the Class N Certificates will be made by Wells Fargo Bank, N.A., as paying agent (the “Paying Agent”), by wire transfer of immediately available funds to the account of the Person entitled thereto at a bank or other entity having appropriate facilities therefor, if such Certificateholder shall have provided the Paying Agent with wiring instructions no less than five Business Days prior to the related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions), or otherwise by check mailed to the address of such Certificateholder as it appears in the Certificate Register.  Notwithstanding the foregoing, the final distribution on this Certificate (determined without regard to any possible future reimbursement of any Realized Loss or Additional Trust Fund Expense previously
allocated to this Certificate) will be made in like manner, but only upon presentation and surrender of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to the Holder hereof of such final distribution.  Also notwithstanding the foregoing, any distribution that may be made with respect to this Certificate in reimbursement of any Realized Loss or Additional Trust Fund Expense previously allocated to this Certificate, which reimbursement is to occur after the date on which this Certificate is surrendered as contemplated by the preceding sentence, will be made by check mailed to the address of the Holder that surrenders this Certificate as such address last appears in the Certificate Register or to any such other address of which the Paying Agent is subsequently notified in writing.


                    The Certificates are limited in right of distribution to certain collections and recoveries respecting the Mortgage Loans and REO Loans, all as more specifically set forth herein and in the Agreement.  As provided in the Agreement, withdrawals from the Certificate Account, the Distribution Account and, if established, the REO Account may be made from time to time for purposes other than, and, in certain cases, prior to, distributions to Certificateholders, such purposes including the reimbursement of Advances made, or certain expenses incurred, with respect to the Mortgage Loans and the payment of interest on such Advances and expenses.


                    Interest accrued on this Certificate during an Interest Accrual Period, plus any unpaid interest shortfall with respect to this Certificate for any prior Distribution Date, if any, will be payable on the related Distribution Date to the extent provided in the Agreement.  The “Interest Accrual Period” with respect to any Distribution Date and with respect to the Class N Certificates is the calendar month preceding the month in which such Distribution Date occurs and is assumed to consist of 30 days.


                    Any distribution to the Holder of this Certificate in reduction of the Certificate Principal Balance hereof is binding on such Holder and all future Holders of this Certificate and any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such distribution is made upon this Certificate.


A-22-4









                    The Class N Certificates are issuable in fully registered form only without coupons in minimum denominations specified in the Agreement.  As provided in the Agreement and subject to certain limitations therein set forth, the Class N Certificates are exchangeable for new Class N Certificates in authorized denominations evidencing the same aggregate Percentage Interest, as requested by the Holder surrendering the same.


                    As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices of the Certificate Registrar, duly endorsed by, or accompanied by a written instrument of transfer in the form satisfactory to the Certificate Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Class N Certificates in authorized denominations evidencing the same aggregate Percentage Interest will be issued to the designated transferee or transferees.


                    No transfer of any Class N Certificate shall be made unless that transfer is made pursuant to an effective registration statement under the Securities Act, and effective registration or qualification under applicable state securities laws, or is made in a transaction which does not require such registration or qualification.  If such a transfer is to be made without registration under the Securities Act (other than in connection with the initial issuance thereof or the initial transfer thereof by the Depositor, the Initial Purchaser or their respective affiliates), then the Certificate Registrar shall refuse to register such transfer unless it receives either: (i) a certificate from the Certificateholder desiring to effect such transfer substantially in the form attached as Exhibit F-1 to the Agreement, and a certificate from such
Certificateholder’s prospective transferee substantially in the form attached as either Exhibit F-2, Exhibit F-3, Exhibit F-4, Exhibit F-5 or Exhibit F-6 to the Agreement; or (ii) an Opinion of Counsel reasonably satisfactory to the Certificate Registrar to the effect that such transfer may be made without registration under the Securities Act (which Opinion of Counsel shall not be an expense of the Trust Fund or of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar in their respective capacities as such), together with the written certification(s) as to the facts surrounding such transfer from the Certificateholder desiring to effect such transfer and/or such Certificateholder’s prospective transferee on which such Opinion of Counsel is based.  None of the Depositor, the Trustee, Paying Agent or the Certificate Registrar is obligated to register or qualify the Class N Certificates under the Securities Act
or any other securities law or to take any action not otherwise required under the Agreement to permit the transfer of any Class N Certificate without registration or qualification.  Any Class N Certificateholder desiring to effect such a transfer shall, and by the acceptance of its Class N Certificate agrees to, indemnify the Trustee, the Certificate Registrar, the Paying Agent and the Depositor against any liability that may result if the transfer is not so exempt or is not made in accordance with such federal and state laws.


                    No service charge will be imposed for any registration of transfer or exchange of Class N Certificates, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of Class N Certificates.


A-22-5









                    Notwithstanding the foregoing, for so long as this Certificate is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC, transfers of interests in this Certificate shall be made through the book-entry facilities of DTC.


                    The Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent and the Certificate Registrar and any agent of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes whatsoever and none of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent, the Certificate Registrar, or any such agent shall be affected by notice to the contrary.


                    The Trust Fund and the obligations created by the Agreement shall terminate upon distribution (or provision for distribution) to the Certificateholders of all amounts held by or on behalf of the Trustee and required to be distributed to them pursuant to the Agreement following the earlier to occur of (i) the final payment (or any advance with respect thereto) or other liquidation of the last Mortgage Loan or REO Property remaining in the Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder at a price determined as provided in the Agreement of all Mortgage Loans and each REO Property remaining in the Trust Fund.  The Agreement permits, but does not require, the Master Servicer, the Special Servicer or the Majority Subordinate
Certificateholder to purchase from the Trust Fund all Mortgage Loans and each REO Property remaining therein.  The exercise of such right will effect early retirement of the Class N Certificates; however, such right to purchase is subject to the aggregate Stated Principal Balance of the Mortgage Pool at the time of purchase being less than 1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date specified on the face hereof.


                    In addition, any exchange by any Certificateholder of all of the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund may be made:  (i) if the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) are held by a single Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-5, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D, Class E, Class F Certificates and Class A-5FL Regular Interest have been paid in full.


                    The Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and obligations of the Depositor, the Master Servicer, the Special Servicer and the Trustee and the rights of the Certificateholders under the Agreement at any time by the Depositor, the Master Servicer, the Special Servicer and the Trustee with the consent of the Holders of Certificates entitled to at least 51% of the Voting Rights allocated to the affected Classes.  Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon this Certificate.  The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to maintain the status of the Trust Fund (or designated portions thereof) as consisting of two separate REMICs and one grantor trust, without the consent of the Holders of any of the Certificates.


A-22-6









                    Unless the certificate of authentication hereon has been executed by the Certificate Registrar, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.


                    The registered Holder hereof, by its acceptance hereof, agrees that it will look solely to the Trust Fund (to the extent of its rights therein) for distributions hereunder.


                    This Certificate shall be construed in accordance with the internal laws of the State of New York applicable to agreements made and to be performed in said State, and the obligations, rights and remedies of the Holder hereof shall be determined in accordance with such laws.


A-22-7









                    IN WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed.


Dated:  May 23, 2007

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Certificate Registrar
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
   
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-22-8









CERTIFICATE OF AUTHENTICATION


                    This is one of the Class N Certificates referred to in the within-mentioned Agreement.

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Authenticating Agent
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
   
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-22-9









ASSIGNMENT


                    FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto ________________________________________________________ (please print or typewrite name and address including postal zip code of assignee) the beneficial ownership interest in the Trust Fund evidenced by the within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the registration of transfer of such interest to assignee on the Certificate Register of the Trust Fund.


                    I (we) further direct the Certificate Registrar to issue a new Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and Class to the above named assignee and deliver such Commercial Mortgage Pass-Through Certificate to the following address:  __________________________________________________.


Dated:  _________________________

	
   
  	
  


  
	
  
 
  	
  
Signature by or on behalf of Assignor
  
	
  
 
  	
   
 
	
  
 
  	
   
 
	
  
 
  	
   
 
	
  
 
  	
  


  
	
  
 
  	
  
Signature Guaranteed
  




A-22-10









DISTRIBUTION INSTRUCTIONS


                    The Assignee should include the following for purposes of distribution:


                    Distributions shall, if permitted, be made by wire transfer or otherwise, in immediately available funds, to _____________________________ for the account of _______________.


                    Distributions made by check (such check to be made payable to _____________________) and all applicable statements and notices should be mailed to _________________________.


                    This information is provided by ________________________________, the Assignee named above, or ____________________________________, as its agent.


A-22-11









EXHIBIT A-23


FORM OF CLASS O CERTIFICATE


CLASS O COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
 SERIES 2007-C31


evidencing a beneficial ownership interest in a trust fund (the “Trust Fund”) consisting primarily of a pool of multifamily and commercial mortgage loans (the “Mortgage Loans”), such pool being formed and sold by


WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

	
  
Pass-Through   Rate:  5.134% per annum
  	
  
 
  	
  
Class Principal   Balance of the Class O Certificates as of the Closing Date: $14,614,000
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Date of   Pooling and Servicing Agreement: as of May 1, 2007
  	
  
 
  	
  
Initial   Certificate Principal Balance of this Class O Certificate as of the   Closing Date: $14,614,000
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Closing   Date:  May 23, 2007
  	
  
 
  	
  
Aggregate   Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date:   $5,845,468,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  
First   Distribution Date:  June 15, 2007
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  Master   Servicer:  Wachovia Bank, National   Association
  	
  
 
  	
  
Trustee:   Wells Fargo Bank, N.A.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Special   Servicer:  LNR Partners, Inc.
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Certificate   No. O-1
  	
  
 
  	
  
CUSIP No.
  




UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION (“DTC”), TO THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.


A-23-1









THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS, INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.  NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.


THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933 (THE “SECURITIES ACT”) OR THE SECURITIES LAWS OF ANY STATE.  ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION 5.02 OF THE AGREEMENT REFERRED TO HEREIN.


SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT” (A “REMIC”) AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986 (THE “CODE”).


THIS CERTIFICATE IS SUBORDINATE TO THE CLASS A-1 CERTIFICATES, THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-5 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE CLASS C CERTIFICATES, THE CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE CLASS F CERTIFICATES, THE CLASS G CERTIFICATES, THE CLASS H CERTIFICATES, THE CLASS J CERTIFICATES, THE CLASS K CERTIFICATES, THE CLASS L CERTIFICATES, THE CLASS M CERTIFICATES, THE CLASS N CERTIFICATES, THE CLASS IO CERTIFICATES AND THE CLASS A-5FL REGULAR INTEREST OF THE SAME SERIES TO THE EXTENT DESCRIBED IN THE AGREEMENT REFERRED TO HEREIN.


NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST THEREIN SHALL BE MADE TO ANY PERSON WHO IS, OR IS ACTING ON BEHALF OF OR WITH ANY ASSETS OF, ANY EMPLOYEE BENEFIT PLAN SUBJECT TO THE FIDUCIARY DUTY PROVISIONS OF TITLE I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), ANY PLAN TO WHICH SECTION 4975 OF THE CODE APPLIES, OR ANY OTHER PLAN OR ARRANGEMENT SUBJECT TO ANY FEDERAL, STATE, OR LOCAL LAW SUBSTANTIVELY SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE, OR ANY ENTITY DEEMED TO HOLD PLAN ASSETS OF THE FOREGOING BY REASON OF A PLAN’S INVESTMENT IN SUCH ENTITY (EACH, A “PLAN”) UNLESS IT IS AN INSURANCE COMPANY GENERAL ACCOUNT THAT IS ELIGIBLE FOR, AND SATISFIES ALL OF THE REQUIREMENTS FOR, EXEMPTIVE


A-23-2









RELIEF UNDER SECTIONS I AND III OF DEPARTMENT OF LABOR PROHIBITED TRANSACTION CLASS EXEMPTION 95-60. EACH PERSON WHO ACQUIRES THIS CERTIFICATE SHALL BE REQUIRED (OR, IN THE CASE OF A BOOK--ENTRY CERTIFICATE, DEEMED) TO HAVE CERTIFIED THAT THE FOREGOING CONDITIONS ARE SATISFIED, AND THAT IT WILL NOT TRANSFER THIS CERTIFICATE IN VIOLATION OF THE FOREGOING.


IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-1 CERTIFICATES, THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-5 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE CLASS C CERTIFICATES, THE CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE CLASS F CERTIFICATES, THE CLASS G CERTIFICATES, THE CLASS H CERTIFICATES, THE CLASS J CERTIFICATES, THE CLASS K CERTIFICATES, THE CLASS L CERTIFICATES, THE CLASS M CERTIFICATES, THE CLASS N CERTIFICATES AND THE CLASS A-5FL REGULAR INTEREST OF THE SAME SERIES IS REDUCED TO ZERO, DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE MADE MONTHLY AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.  IN ADDITION, IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS P, CLASS Q,
CLASS S, CLASS T AND CLASS U CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE REDUCED BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE AGREEMENT REFERRED TO HEREIN.  ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.


                    This certifies that Cede & Co. is the registered owner of the Percentage Interest evidenced by this Class O Certificate (obtained by dividing the principal amount of this Class O Certificate (its “Certificate Principal Balance”) as of the Closing Date by the aggregate principal amount of all the Class O Certificates (their “Class Principal Balance”) as of the Closing Date) in that certain beneficial ownership interest evidenced by all the Class O Certificates in the Trust Fund created pursuant to a Pooling and Servicing Agreement, dated as specified above (the “Agreement”), among Wachovia Commercial Mortgage Securities, Inc. (herein called the “Depositor”, which term includes any successor entity under the Agreement), Wachovia Bank,
National Association (herein called the “Master Servicer”, which term includes any successor entity under the Agreement), LNR Partners, Inc. (herein called the “Special Servicer”, which term includes any successor entity under the Agreement) and Wells Fargo Bank, N.A. (herein called the “Trustee”, which term includes any successor entity under the Agreement), a summary of certain of the pertinent provisions of which is set forth hereafter.  To the extent not defined herein, the capitalized terms used herein have the respective meanings assigned in the Agreement.  This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound.


A-23-3









                    Pursuant to the terms of the Agreement, distributions will be made on the fourth Business Day following the related Determination Date (each, a “Distribution Date”).  The Determination Date is the 11th day of each month or, if such 11th day is not a Business Day, the Business Day immediately succeeding, commencing in June 2007 (each, a “Determination Date”).  Distributions will be made commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the last Business Day of the month immediately preceding the month of such distribution (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount required to be distributed to the Holders of
the Class O Certificates on the applicable Distribution Date pursuant to the Agreement.  All distributions made under the Agreement on the Class O Certificates will be made by Wells Fargo Bank, N.A., as paying agent (the “Paying Agent”), by wire transfer of immediately available funds to the account of the Person entitled thereto at a bank or other entity having appropriate facilities therefor, if such Certificateholder shall have provided the Paying Agent with wiring instructions no less than five Business Days prior to the related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions), or otherwise by check mailed to the address of such Certificateholder as it appears in the Certificate Register.  Notwithstanding the foregoing, the final distribution on this Certificate (determined without regard to any possible future reimbursement of any Realized Loss or Additional Trust Fund Expense previously
allocated to this Certificate) will be made in like manner, but only upon presentation and surrender of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to the Holder hereof of such final distribution.  Also notwithstanding the foregoing, any distribution that may be made with respect to this Certificate in reimbursement of any Realized Loss or Additional Trust Fund Expense previously allocated to this Certificate, which reimbursement is to occur after the date on which this Certificate is surrendered as contemplated by the preceding sentence, will be made by check mailed to the address of the Holder that surrenders this Certificate as such address last appears in the Certificate Register or to any such other address of which the Paying Agent is subsequently notified in writing.


                    The Certificates are limited in right of distribution to certain collections and recoveries respecting the Mortgage Loans and REO Loans, all as more specifically set forth herein and in the Agreement.  As provided in the Agreement, withdrawals from the Certificate Account, the Distribution Account and, if established, the REO Account may be made from time to time for purposes other than, and, in certain cases, prior to, distributions to Certificateholders, such purposes including the reimbursement of Advances made, or certain expenses incurred, with respect to the Mortgage Loans and the payment of interest on such Advances and expenses.


                    Interest accrued on this Certificate during an Interest Accrual Period, plus any unpaid interest shortfall with respect to this Certificate for any prior Distribution Date, if any, will be payable on the related Distribution Date to the extent provided in the Agreement.  The “Interest Accrual Period” with respect to any Distribution Date and with respect to the Class O Certificates is the calendar month preceding the month in which such Distribution Date occurs and is assumed to consist of 30 days.


                    Any distribution to the Holder of this Certificate in reduction of the Certificate Principal Balance hereof is binding on such Holder and all future Holders of this Certificate and any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such distribution is made upon this Certificate.


A-23-4









                    The Class O Certificates are issuable in fully registered form only without coupons in minimum denominations specified in the Agreement.  As provided in the Agreement and subject to certain limitations therein set forth, the Class O Certificates are exchangeable for new Class O Certificates in authorized denominations evidencing the same aggregate Percentage Interest, as requested by the Holder surrendering the same.


                    As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices of the Certificate Registrar, duly endorsed by, or accompanied by a written instrument of transfer in the form satisfactory to the Certificate Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Class O Certificates in authorized denominations evidencing the same aggregate Percentage Interest will be issued to the designated transferee or transferees.


                    No transfer of any Class O Certificate shall be made unless that transfer is made pursuant to an effective registration statement under the Securities Act, and effective registration or qualification under applicable state securities laws, or is made in a transaction which does not require such registration or qualification.  If such a transfer is to be made without registration under the Securities Act (other than in connection with the initial issuance thereof or the initial transfer thereof by the Depositor, the Initial Purchaser or their respective affiliates), then the Certificate Registrar shall refuse to register such transfer unless it receives either: (i) a certificate from the Certificateholder desiring to effect such transfer substantially in the form attached as Exhibit F-1 to the Agreement, and a certificate from such
Certificateholder’s prospective transferee substantially in the form attached as either Exhibit F-2, Exhibit F-3, Exhibit F-4, Exhibit F-5 or Exhibit F-6 to the Agreement; or (ii) an Opinion of Counsel reasonably satisfactory to the Certificate Registrar to the effect that such transfer may be made without registration under the Securities Act (which Opinion of Counsel shall not be an expense of the Trust Fund or of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar in their respective capacities as such), together with the written certification(s) as to the facts surrounding such transfer from the Certificateholder desiring to effect such transfer and/or such Certificateholder’s prospective transferee on which such Opinion of Counsel is based.  None of the Depositor, the Trustee, the Paying Agent or the Certificate Registrar is obligated to register or qualify the Class O Certificates under the Securities
Act or any other securities law or to take any action not otherwise required under the Agreement to permit the transfer of any Class O Certificate without registration or qualification.  Any Class O Certificateholder desiring to effect such a transfer shall, and by the acceptance of its Class O Certificate agrees to, indemnify the Trustee, the Certificate Registrar, the Paying Agent and the Depositor against any liability that may result if the transfer is not so exempt or is not made in accordance with such federal and state laws.


                    No service charge will be imposed for any registration of transfer or exchange of Class O Certificates, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of Class O Certificates.


A-23-5









                    Notwithstanding the foregoing, for so long as this Certificate is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC, transfers of interests in this Certificate shall be made through the book-entry facilities of DTC.


                    The Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent and the Certificate Registrar and any agent of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes whatsoever and none of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent, the Certificate Registrar, or any such agent shall be affected by notice to the contrary.


                    The Trust Fund and the obligations created by the Agreement shall terminate upon distribution (or provision for distribution) to the Certificateholders of all amounts held by or on behalf of the Trustee and required to be distributed to them pursuant to the Agreement following the earlier to occur of (i) the final payment (or any advance with respect thereto) or other liquidation of the last Mortgage Loan or REO Property remaining in the Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder at a price determined as provided in the Agreement of all Mortgage Loans and each REO Property remaining in the Trust Fund.  The Agreement permits, but does not require, the Master Servicer, the Special Servicer or the Majority Subordinate
Certificateholder to purchase from the Trust Fund all Mortgage Loans and each REO Property remaining therein.  The exercise of such right will effect early retirement of the Class O Certificates; however, such right to purchase is subject to the aggregate Stated Principal Balance of the Mortgage Pool at the time of purchase being less than 1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date specified on the face hereof.


                    In addition, any exchange by any Certificateholder of all of the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund may be made:  (i) if the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) are held by a single Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-5, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D, Class E, Class F Certificates and Class A-5FL Regular Interest have been paid in full.


                    The Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and obligations of the Depositor, the Master Servicer, the Special Servicer and the Trustee and the rights of the Certificateholders under the Agreement at any time by the Depositor, the Master Servicer, the Special Servicer and the Trustee with the consent of the Holders of Certificates entitled to at least 51% of the Voting Rights allocated to the affected Classes.  Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon this Certificate.  The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to maintain the status of the Trust Fund (or designated portions thereof) as consisting of two separate REMICs and one grantor trust, without the consent of the Holders of any of the Certificates.


A-23-6









                    Unless the certificate of authentication hereon has been executed by the Certificate Registrar, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.


                    The registered Holder hereof, by its acceptance hereof, agrees that it will look solely to the Trust Fund (to the extent of its rights therein) for distributions hereunder.


                    This Certificate shall be construed in accordance with the internal laws of the State of New York applicable to agreements made and to be performed in said State, and the obligations, rights and remedies of the Holder hereof shall be determined in accordance with such laws.


A-23-7









                    IN WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed.


Dated:  May 23, 2007

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Certificate Registrar
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
   
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-23-8









CERTIFICATE OF AUTHENTICATION


                    This is one of the Class O Certificates referred to in the within-mentioned Agreement.

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Authenticating Agent
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
   
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-23-9









ASSIGNMENT


                    FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto ________________________________________________________ (please print or typewrite name and address including postal zip code of assignee) the beneficial ownership interest in the Trust Fund evidenced by the within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the registration of transfer of such interest to assignee on the Certificate Register of the Trust Fund.


                    I (we) further direct the Certificate Registrar to issue a new Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and Class to the above named assignee and deliver such Commercial Mortgage Pass-Through Certificate to the following address:  __________________________________________________.


Dated:  _________________________

	
   
  	
  


  
	
  
 
  	
  
Signature by or on behalf of Assignor
  
	
  
 
  	
   
 
	
  
 
  	
   
 
	
  
 
  	
   
 
	
  
 
  	
  


  
	
  
 
  	
  
Signature Guaranteed
  




A-23-10









DISTRIBUTION INSTRUCTIONS


                    The Assignee should include the following for purposes of distribution:


                    Distributions shall, if permitted, be made by wire transfer or otherwise, in immediately available funds, to _____________________________ for the account of _______________.


                    Distributions made by check (such check to be made payable to _____________________) and all applicable statements and notices should be mailed to _________________________.


                    This information is provided by ________________________________, the Assignee named above, or ____________________________________, as its agent.


A-23-11









EXHIBIT A-24


FORM OF CLASS P CERTIFICATE


CLASS P COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
 SERIES 2007-C31


evidencing a beneficial ownership interest in a trust fund (the “Trust Fund”) consisting primarily of a pool of multifamily and commercial mortgage loans (the “Mortgage Loans”), such pool being formed and sold by


WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

	
  
Pass-Through   Rate:  5.134% per annum
  	
  
 
  	
  
Class Principal   Balance of the Class P Certificates as of the Closing Date: $14,613,000
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Date of   Pooling and Servicing Agreement: as of May 1, 2007
  	
  
 
  	
  
Initial   Certificate Principal Balance of this Class P Certificate as of the   Closing Date: $14,613,000
  
	
   
  	
  
 
  	
  
 
  
	
  
Closing   Date:  May 23, 2007
  	
  
 
  	
  
Aggregate   Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date:   $5,845,468,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  
First   Distribution Date:  June 15, 2007
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Master   Servicer:  Wachovia Bank, National   Association
  	
  
 
  	
  
Trustee:   Wells Fargo Bank, N.A.
  
	
  
 
  	
  
 
  	
  
 
  
	
  Special   Servicer:  LNR Partners, Inc.
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Certificate   No. P-1
  	
  
 
  	
  
CUSIP No.
  




UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION (“DTC”), TO THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.


A-24-1









THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS, INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.  NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.


THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933 (THE “SECURITIES ACT”) OR THE SECURITIES LAWS OF ANY STATE.  ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION 5.02 OF THE AGREEMENT REFERRED TO HEREIN.


SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT” (A “REMIC”) AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986 (THE “CODE”).


THIS CERTIFICATE IS SUBORDINATE TO THE CLASS A-1 CERTIFICATES, THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-5 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE CLASS C CERTIFICATES, THE CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE CLASS F CERTIFICATES, THE CLASS G CERTIFICATES, THE CLASS H CERTIFICATES, THE CLASS J CERTIFICATES, THE CLASS K CERTIFICATES, THE CLASS L CERTIFICATES, THE CLASS M CERTIFICATES, THE CLASS N CERTIFICATES, THE CLASS O CERTIFICATES, THE CLASS IO CERTIFICATES AND THE CLASS A-5FL REGULAR INTEREST OF THE SAME SERIES TO THE EXTENT DESCRIBED IN THE AGREEMENT REFERRED TO HEREIN.


NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST THEREIN SHALL BE MADE TO ANY PERSON WHO IS, OR IS ACTING ON BEHALF OF OR WITH ANY ASSETS OF, ANY EMPLOYEE BENEFIT PLAN SUBJECT TO THE FIDUCIARY DUTY PROVISIONS OF TITLE I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), ANY PLAN TO WHICH SECTION 4975 OF THE CODE APPLIES, OR ANY OTHER PLAN OR ARRANGEMENT SUBJECT TO ANY FEDERAL, STATE, OR LOCAL LAW SUBSTANTIVELY SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE, OR ANY ENTITY DEEMED TO HOLD PLAN ASSETS OF THE FOREGOING BY REASON OF A PLAN’S INVESTMENT IN SUCH ENTITY (EACH, A “PLAN”) UNLESS IT IS AN INSURANCE COMPANY GENERAL ACCOUNT THAT IS


A-24-2









ELIGIBLE FOR, AND SATISFIES ALL OF THE REQUIREMENTS FOR, EXEMPTIVE RELIEF UNDER SECTIONS I AND III OF DEPARTMENT OF LABOR PROHIBITED TRANSACTION CLASS EXEMPTION 95-60. EACH PERSON WHO ACQUIRES THIS CERTIFICATE SHALL BE REQUIRED (OR, IN THE CASE OF A BOOK--ENTRY CERTIFICATE, DEEMED) TO HAVE CERTIFIED THAT THE FOREGOING CONDITIONS ARE SATISFIED, AND THAT IT WILL NOT TRANSFER THIS CERTIFICATE IN VIOLATION OF THE FOREGOING.


IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-1 CERTIFICATES, THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-5 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE CLASS C CERTIFICATES, THE CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE CLASS F CERTIFICATES, THE CLASS G CERTIFICATES, THE CLASS H CERTIFICATES, THE CLASS J CERTIFICATES, THE CLASS K CERTIFICATES, THE CLASS L CERTIFICATES, THE CLASS M CERTIFICATES, THE CLASS N CERTIFICATES, THE CLASS O CERTIFICATES AND THE CLASS A-5FL REGULAR INTEREST OF THE SAME SERIES IS REDUCED TO ZERO, DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE MADE MONTHLY AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO
HEREIN.  IN ADDITION, IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS Q, CLASS S, CLASS T AND CLASS U CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE REDUCED BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE AGREEMENT REFERRED TO HEREIN.  ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.


                    This certifies that Cede & Co. is the registered owner of the Percentage Interest evidenced by this Class P Certificate (obtained by dividing the principal amount of this Class P Certificate (its “Certificate Principal Balance”) as of the Closing Date by the aggregate principal amount of all the Class P Certificates (their “Class Principal Balance”) as of the Closing Date) in that certain beneficial ownership interest evidenced by all the Class P Certificates in the Trust Fund created pursuant to a Pooling and Servicing Agreement, dated as specified above (the “Agreement”), among Wachovia Commercial Mortgage Securities, Inc. (herein called the “Depositor”, which term includes any successor entity under the Agreement), Wachovia Bank,
National Association (herein called the “Master Servicer”, which term includes any successor entity under the Agreement), LNR Partners, Inc. (herein called the “Special Servicer”, which term includes any successor entity under the Agreement) and Wells Fargo Bank, N.A. (herein called the “Trustee”, which term includes any successor entity under the Agreement), a summary of certain of the pertinent provisions of which is set forth hereafter.  To the extent not defined herein, the capitalized terms used herein have the respective meanings assigned in the Agreement.  This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound.


A-24-3









                    Pursuant to the terms of the Agreement, distributions will be made on the fourth Business Day following the related Determination Date (each, a “Distribution Date”).  The Determination Date is the 11th day of each month or, if such 11th day is not a Business Day, the Business Day immediately succeeding, commencing in June 2007 (each, a “Determination Date”).  Distributions will be made commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the last Business Day of the month immediately preceding the month of such distribution (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount required to be distributed to the Holders of
the Class P Certificates on the applicable Distribution Date pursuant to the Agreement.  All distributions made under the Agreement on the Class P Certificates will be made by Wells Fargo Bank, N.A., as paying agent (the “Paying Agent”), by wire transfer of immediately available funds to the account of the Person entitled thereto at a bank or other entity having appropriate facilities therefor, if such Certificateholder shall have provided the Paying Agent with wiring instructions no less than five Business Days prior to the related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions), or otherwise by check mailed to the address of such Certificateholder as it appears in the Certificate Register.  Notwithstanding the foregoing, the final distribution on this Certificate (determined without regard to any possible future reimbursement of any Realized Loss or Additional Trust Fund Expense previously
allocated to this Certificate) will be made in like manner, but only upon presentation and surrender of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to the Holder hereof of such final distribution.  Also notwithstanding the foregoing, any distribution that may be made with respect to this Certificate in reimbursement of any Realized Loss or Additional Trust Fund Expense previously allocated to this Certificate, which reimbursement is to occur after the date on which this Certificate is surrendered as contemplated by the preceding sentence, will be made by check mailed to the address of the Holder that surrenders this Certificate as such address last appears in the Certificate Register or to any such other address of which the Paying Agent is subsequently notified in writing.


                    The Certificates are limited in right of distribution to certain collections and recoveries respecting the Mortgage Loans and REO Loans, all as more specifically set forth herein and in the Agreement.  As provided in the Agreement, withdrawals from the Certificate Account, the Distribution Account and, if established, the REO Account may be made from time to time for purposes other than, and, in certain cases, prior to, distributions to Certificateholders, such purposes including the reimbursement of Advances made, or certain expenses incurred, with respect to the Mortgage Loans and the payment of interest on such Advances and expenses.


                    Interest accrued on this Certificate during an Interest Accrual Period, plus any unpaid interest shortfall with respect to this Certificate for any prior Distribution Date, if any, will be payable on the related Distribution Date to the extent provided in the Agreement.  The “Interest Accrual Period” with respect to any Distribution Date and with respect to the Class P Certificates is the calendar month preceding the month in which such Distribution Date occurs and is assumed to consist of 30 days.


A-24-4









                    Any distribution to the Holder of this Certificate in reduction of the Certificate Principal Balance hereof is binding on such Holder and all future Holders of this Certificate and any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such distribution is made upon this Certificate.


                    The Class P Certificates are issuable in fully registered form only without coupons in minimum denominations specified in the Agreement.  As provided in the Agreement and subject to certain limitations therein set forth, the Class P Certificates are exchangeable for new Class P Certificates in authorized denominations evidencing the same aggregate Percentage Interest, as requested by the Holder surrendering the same.


                    As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices of the Certificate Registrar, duly endorsed by, or accompanied by a written instrument of transfer in the form satisfactory to the Certificate Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Class P Certificates in authorized denominations evidencing the same aggregate Percentage Interest will be issued to the designated transferee or transferees.


                    No transfer of any Class P Certificate shall be made unless that transfer is made pursuant to an effective registration statement under the Securities Act, and effective registration or qualification under applicable state securities laws, or is made in a transaction which does not require such registration or qualification.  If such a transfer is to be made without registration under the Securities Act (other than in connection with the initial issuance thereof or the initial transfer thereof by the Depositor, the Initial Purchaser or their respective affiliates), then the Certificate Registrar shall refuse to register such transfer unless it receives either: (i) a certificate from the Certificateholder desiring to effect such transfer substantially in the form attached as Exhibit F-1 to the Agreement, and a certificate from such
Certificateholder’s prospective transferee substantially in the form attached as either Exhibit F-2, Exhibit F-3, Exhibit F-4, Exhibit F-5 or Exhibit F-6 to the Agreement; or (ii) an Opinion of Counsel reasonably satisfactory to the Certificate Registrar to the effect that such transfer may be made without registration under the Securities Act (which Opinion of Counsel shall not be an expense of the Trust Fund or of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar in their respective capacities as such), together with the written certification(s) as to the facts surrounding such transfer from the Certificateholder desiring to effect such transfer and/or such Certificateholder’s prospective transferee on which such Opinion of Counsel is based.  None of the Depositor, the Trustee, Paying Agent or the Certificate Registrar is obligated to register or qualify the Class P Certificates under the Securities Act
or any other securities law or to take any action not otherwise required under the Agreement to permit the transfer of any Class P Certificate without registration or qualification.  Any Class P Certificateholder desiring to effect such a transfer shall, and by the acceptance of its Class P Certificate agrees to, indemnify the Trustee, the Certificate Registrar, the Paying Agent and the Depositor against any liability that may result if the transfer is not so exempt or is not made in accordance with such federal and state laws.


                    No service charge will be imposed for any registration of transfer or exchange of Class P Certificates, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of Class P Certificates.


A-24-5









                    Notwithstanding the foregoing, for so long as this Certificate is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC, transfers of interests in this Certificate shall be made through the book-entry facilities of DTC.


                    The Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent and the Certificate Registrar and any agent of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes whatsoever and none of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent, the Certificate Registrar, or any such agent shall be affected by notice to the contrary.


                    The Trust Fund and the obligations created by the Agreement shall terminate upon distribution (or provision for distribution) to the Certificateholders of all amounts held by or on behalf of the Trustee and required to be distributed to them pursuant to the Agreement following the earlier to occur of (i) the final payment (or any advance with respect thereto) or other liquidation of the last Mortgage Loan or REO Property remaining in the Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder at a price determined as provided in the Agreement of all Mortgage Loans and each REO Property remaining in the Trust Fund.  The Agreement permits, but does not require, the Master Servicer, the Special Servicer or the Majority Subordinate
Certificateholder to purchase from the Trust Fund all Mortgage Loans and each REO Property remaining therein.  The exercise of such right will effect early retirement of the Class P Certificates; however, such right to purchase is subject to the aggregate Stated Principal Balance of the Mortgage Pool at the time of purchase being less than 1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date specified on the face hereof.


                    In addition, any exchange by any Certificateholder of all of the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund may be made:  (i) if the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) are held by a single Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-5, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D, Class E, Class F Certificates and Class A-5FL Regular Interest have been paid in full.


                    The Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and obligations of the Depositor, the Master Servicer, the Special Servicer and the Trustee and the rights of the Certificateholders under the Agreement at any time by the Depositor, the Master Servicer, the Special Servicer and the Trustee with the consent of the Holders of Certificates entitled to at least 51% of the Voting Rights allocated to the affected Classes.  Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon this Certificate.  The Agreement also permits the amendment
thereof, 


A-24-6









in certain limited circumstances, including any amendment necessary to maintain the status of the Trust Fund (or designated portions thereof) as consisting of two separate REMICs and one grantor trust, without the consent of the Holders of any of the Certificates.


                    Unless the certificate of authentication hereon has been executed by the Certificate Registrar, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.


                    The registered Holder hereof, by its acceptance hereof, agrees that it will look solely to the Trust Fund (to the extent of its rights therein) for distributions hereunder.


                    This Certificate shall be construed in accordance with the internal laws of the State of New York applicable to agreements made and to be performed in said State, and the obligations, rights and remedies of the Holder hereof shall be determined in accordance with such laws.


A-24-7









                    IN WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed.


Dated:  May 23,  2007

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Certificate Registrar
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
   
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-24-8









CERTIFICATE OF AUTHENTICATION


                    This is one of the Class P Certificates referred to in the within-mentioned Agreement.

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Authenticating Agent
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
   
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-24-9









ASSIGNMENT


                    FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto ________________________________________________________ (please print or typewrite name and address including postal zip code of assignee) the beneficial ownership interest in the Trust Fund evidenced by the within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the registration of transfer of such interest to assignee on the Certificate Register of the Trust Fund.


                    I (we) further direct the Certificate Registrar to issue a new Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and Class to the above named assignee and deliver such Commercial Mortgage Pass-Through Certificate to the following address:  __________________________________________________.


Dated:  _________________________

	
   
  	
  


  
	
  
 
  	
  
Signature by or on behalf of Assignor
  
	
  
 
  	
   
 
	
  
 
  	
   
 
	
  
 
  	
   
 
	
  
 
  	
  


  
	
  
 
  	
  
Signature Guaranteed
  




A-24-10









DISTRIBUTION INSTRUCTIONS


                    The Assignee should include the following for purposes of distribution:


                    Distributions shall, if permitted, be made by wire transfer or otherwise, in immediately available funds, to _____________________________ for the account of _______________.


                    Distributions made by check (such check to be made payable to _____________________) and all applicable statements and notices should be mailed to _________________________.


                    This information is provided by ________________________________, the Assignee named above, or ____________________________________, as its agent.


A-24-11









EXHIBIT A-25


FORM OF CLASS Q CERTIFICATE


CLASS Q COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
 SERIES 2007-C31


evidencing a beneficial ownership interest in a trust fund (the “Trust Fund”) consisting primarily of a pool of multifamily and commercial mortgage loans (the “Mortgage Loans”), such pool being formed and sold by


WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

	
  
Pass-Through   Rate:  5.134% per annum
  	
  
 
  	
  
Class Principal   Balance of the Class Q Certificates as of the Closing Date: $14,614,000
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Date of   Pooling and Servicing Agreement: as of May 1, 2007
  	
  
 
  	
  
Initial   Certificate Principal Balance of this Class Q Certificate as of the   Closing Date: $14,614,000
  
	
   
  	
  
 
  	
  
 
  
	
  
Closing   Date:  May 23, 2007
  	
  
 
  	
  
Aggregate   Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date:   $5,845,468,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  
First   Distribution Date:  June 15, 2007
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Master   Servicer:  Wachovia Bank, National   Association
  	
  
 
  	
  
Trustee:   Wells Fargo Bank, N.A.
  
	
  
 
  	
  
 
  	
  
 
  
	
  Special   Servicer:  LNR Partners, Inc.
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Certificate   No. Q-1
  	
  
 
  	
  
CUSIP No.
  




UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION (“DTC”), TO THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.


A-25-1









THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS, INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.  NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.


THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933 (THE “SECURITIES ACT”) OR THE SECURITIES LAWS OF ANY STATE.  ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION 5.02 OF THE AGREEMENT REFERRED TO HEREIN.


SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT” (A “REMIC”) AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986 (THE “CODE”).


THIS CERTIFICATE IS SUBORDINATE TO THE CLASS A-1 CERTIFICATES, THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-5 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE CLASS C CERTIFICATES, THE CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE CLASS F CERTIFICATES, THE CLASS G CERTIFICATES, THE CLASS H CERTIFICATES, THE CLASS J CERTIFICATES, THE CLASS K CERTIFICATES, THE CLASS L CERTIFICATES, THE CLASS M CERTIFICATES, THE CLASS N CERTIFICATES, THE CLASS O CERTIFICATES, THE CLASS P CERTIFICATES, THE CLASS S CERTIFICATES, THE CLASS IO CERTIFICATES AND THE CLASS A-5FL REGULAR INTEREST OF THE SAME SERIES TO THE EXTENT DESCRIBED IN THE AGREEMENT REFERRED TO HEREIN.


NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST THEREIN SHALL BE MADE TO ANY PERSON WHO IS, OR IS ACTING ON BEHALF OF OR WITH ANY ASSETS OF, ANY EMPLOYEE BENEFIT PLAN SUBJECT TO THE FIDUCIARY DUTY PROVISIONS OF TITLE I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), ANY PLAN TO WHICH SECTION 4975 OF THE CODE APPLIES, OR ANY OTHER PLAN OR ARRANGEMENT SUBJECT TO ANY FEDERAL, STATE, OR LOCAL LAW SUBSTANTIVELY SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE, OR ANY ENTITY DEEMED TO HOLD PLAN ASSETS OF THE FOREGOING BY REASON OF A PLAN’S INVESTMENT IN SUCH ENTITY (EACH, A “PLAN”) UNLESS IT IS AN INSURANCE COMPANY GENERAL ACCOUNT THAT IS 


A-25-2









ELIGIBLE FOR, AND SATISFIES ALL OF THE REQUIREMENTS FOR, EXEMPTIVE RELIEF UNDER SECTIONS I AND III OF DEPARTMENT OF LABOR PROHIBITED TRANSACTION CLASS EXEMPTION 95-60. EACH PERSON WHO ACQUIRES THIS CERTIFICATE SHALL BE REQUIRED (OR, IN THE CASE OF A BOOK--ENTRY CERTIFICATE, DEEMED) TO HAVE CERTIFIED THAT THE FOREGOING CONDITIONS ARE SATISFIED, AND THAT IT WILL NOT TRANSFER THIS CERTIFICATE IN VIOLATION OF THE FOREGOING.


IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-1 CERTIFICATES, THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-5 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE CLASS C CERTIFICATES, THE CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE CLASS F CERTIFICATES, THE CLASS G CERTIFICATES, THE CLASS H CERTIFICATES, THE CLASS J CERTIFICATES, THE CLASS K CERTIFICATES, THE CLASS L CERTIFICATES, THE CLASS M CERTIFICATES, THE CLASS N CERTIFICATES, THE CLASS O CERTIFICATES, THE CLASS P CERTIFICATES, THE CLASS S CERTIFICATES AND THE CLASS A-5FL REGULAR INTEREST OF THE SAME SERIES IS REDUCED TO ZERO, DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE MADE MONTHLY AS SET FORTH IN
THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.  IN ADDITION, THE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS S, CLASS T AND CLASS U CERTIFICATE MAY BE REDUCED BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE AGREEMENT REFERRED TO HEREIN.  ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.


                    This certifies that Cede & Co. is the registered owner of the Percentage Interest evidenced by this Class Q Certificate (obtained by dividing the principal amount of this Class Q Certificate (its “Certificate Principal Balance”) as of the Closing Date by the aggregate principal amount of all the Class Q Certificates (their “Class Principal Balance”) as of the Closing Date) in that certain beneficial ownership interest evidenced by all the Class Q Certificates in the Trust Fund created pursuant to a Pooling and Servicing Agreement, dated as specified above (the “Agreement”), among Wachovia Commercial Mortgage Securities, Inc. (herein called the “Depositor”, which term includes any successor entity under the Agreement), Wachovia Bank,
National Association (herein called the “Master Servicer”, which term includes any successor entity under the Agreement), LNR Partners, Inc. (herein called the “Special Servicer”, which term includes any successor entity under the Agreement) and Wells Fargo Bank, N.A. (herein called the “Trustee”, which term includes any successor entity under the Agreement), a summary of certain of the pertinent provisions of which is set forth hereafter.  To the extent not defined herein, the capitalized terms used herein have the respective meanings assigned in the Agreement.  This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound.


A-25-3









                    Pursuant to the terms of the Agreement, distributions will be made on the fourth Business Day following the related Determination Date (each, a “Distribution Date”).  The Determination Date is the 11th day of each month or, if such 11th day is not a Business Day, the Business Day immediately succeeding, commencing in June 2007 (each, a “Determination Date”).  Distributions will be made commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the last Business Day of the month immediately preceding the month of such distribution (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount required to be distributed to the Holders of
the Class Q Certificates on the applicable Distribution Date pursuant to the Agreement.  All distributions made under the Agreement on the Class Q Certificates will be made by Wells Fargo Bank, N.A., as paying agent (the “Paying Agent”), by wire transfer of immediately available funds to the account of the Person entitled thereto at a bank or other entity having appropriate facilities therefor, if such Certificateholder shall have provided the Paying Agent with wiring instructions no less than five Business Days prior to the related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions), or otherwise by check mailed to the address of such Certificateholder as it appears in the Certificate Register.  Notwithstanding the foregoing, the final distribution on this Certificate (determined without regard to any possible future reimbursement of any Realized Loss or Additional Trust Fund Expense previously
allocated to this Certificate) will be made in like manner, but only upon presentation and surrender of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to the Holder hereof of such final distribution.  Also notwithstanding the foregoing, any distribution that may be made with respect to this Certificate in reimbursement of any Realized Loss or Additional Trust Fund Expense previously allocated to this Certificate, which reimbursement is to occur after the date on which this Certificate is surrendered as contemplated by the preceding sentence, will be made by check mailed to the address of the Holder that surrenders this Certificate as such address last appears in the Certificate Register or to any such other address of which the Paying Agent is subsequently notified in writing.


                    The Certificates are limited in right of distribution to certain collections and recoveries respecting the Mortgage Loans and REO Loans, all as more specifically set forth herein and in the Agreement.  As provided in the Agreement, withdrawals from the Certificate Account, the Distribution Account and, if established, the REO Account may be made from time to time for purposes other than, and, in certain cases, prior to, distributions to Certificateholders, such purposes including the reimbursement of Advances made, or certain expenses incurred, with respect to the Mortgage Loans and the payment of interest on such Advances and expenses.


                    Interest accrued on this Certificate during an Interest Accrual Period, plus any unpaid interest shortfall with respect to this Certificate for any prior Distribution Date, if any, will be payable on the related Distribution Date to the extent provided in the Agreement.  The “Interest Accrual Period” with respect to any Distribution Date and with respect to the Class Q Certificates is the calendar month preceding the month in which such Distribution Date occurs and is assumed to consist of 30 days.


                    Any distribution to the Holder of this Certificate in reduction of the Certificate Principal Balance hereof is binding on such Holder and all future Holders of this Certificate and any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such distribution is made upon this Certificate.


A-25-4









                    The Class Q Certificates are issuable in fully registered form only without coupons in minimum denominations specified in the Agreement.  As provided in the Agreement and subject to certain limitations therein set forth, the Class Q Certificates are exchangeable for new Class Q Certificates in authorized denominations evidencing the same aggregate Percentage Interest, as requested by the Holder surrendering the same.


                    As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices of the Certificate Registrar, duly endorsed by, or accompanied by a written instrument of transfer in the form satisfactory to the Certificate Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Class Q Certificates in authorized denominations evidencing the same aggregate Percentage Interest will be issued to the designated transferee or transferees.


                    No transfer of any Class Q Certificate shall be made unless that transfer is made pursuant to an effective registration statement under the Securities Act, and effective registration or qualification under applicable state securities laws, or is made in a transaction which does not require such registration or qualification.  If such a transfer is to be made without registration under the Securities Act (other than in connection with the initial issuance thereof or the initial transfer thereof by the Depositor, the Initial Purchaser or their respective affiliates), then the Certificate Registrar shall refuse to register such transfer unless it receives either: (i) a certificate from the Certificateholder desiring to effect such transfer substantially in the form attached as Exhibit F-1 to the Agreement, and a certificate from such
Certificateholder’s prospective transferee substantially in the form attached as either Exhibit F-2, Exhibit F-3, Exhibit F-4, Exhibit F-5 or Exhibit F-6 to the Agreement; or (ii) an Opinion of Counsel reasonably satisfactory to the Certificate Registrar to the effect that such transfer may be made without registration under the Securities Act (which Opinion of Counsel shall not be an expense of the Trust Fund or of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar in their respective capacities as such), together with the written certification(s) as to the facts surrounding such transfer from the Certificateholder desiring to effect such transfer and/or such Certificateholder’s prospective transferee on which such Opinion of Counsel is based.  None of the Depositor, the Trustee, Paying Agent or the Certificate Registrar is obligated to register or qualify the Class Q Certificates under the Securities Act
or any other securities law or to take any action not otherwise required under the Agreement to permit the transfer of any Class Q Certificate without registration or qualification.  Any Class Q Certificateholder desiring to effect such a transfer shall, and by the acceptance of its Class Q Certificate agrees to, indemnify the Trustee, the Certificate Registrar, the Paying Agent and the Depositor against any liability that may result if the transfer is not so exempt or is not made in accordance with such federal and state laws.


                    No service charge will be imposed for any registration of transfer or exchange of Class Q Certificates, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of Class Q Certificates.


A-25-5









                    Notwithstanding the foregoing, for so long as this Certificate is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC, transfers of interests in this Certificate shall be made through the book-entry facilities of DTC.


                    The Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent and the Certificate Registrar and any agent of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes whatsoever and none of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent, the Certificate Registrar, or any such agent shall be affected by notice to the contrary.


                    The Trust Fund and the obligations created by the Agreement shall terminate upon distribution (or provision for distribution) to the Certificateholders of all amounts held by or on behalf of the Trustee and required to be distributed to them pursuant to the Agreement following the earlier to occur of (i) the final payment (or any advance with respect thereto) or other liquidation of the last Mortgage Loan or REO Property remaining in the Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder at a price determined as provided in the Agreement of all Mortgage Loans and each REO Property remaining in the Trust Fund.  The Agreement permits, but does not require, the Master Servicer, the Special Servicer or the Majority Subordinate
Certificateholder to purchase from the Trust Fund all Mortgage Loans and each REO Property remaining therein.  The exercise of such right will effect early retirement of the Class Q Certificates; however, such right to purchase is subject to the aggregate Stated Principal Balance of the Mortgage Pool at the time of purchase being less than 1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date specified on the face hereof.


                    In addition, any exchange by any Certificateholder of all of the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund may be made:  (i) if the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) are held by a single Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-5, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D, Class E, Class F Certificates and Class A-5FL Regular Interest have been paid in full.


                    The Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and obligations of the Depositor, the Master Servicer, the Special Servicer and the Trustee and the rights of the Certificateholders under the Agreement at any time by the Depositor, the Master Servicer, the Special Servicer and the Trustee with the consent of the Holders of Certificates entitled to at least 51% of the Voting Rights allocated to the affected Classes.  Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon this Certificate.  The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to maintain the status of the Trust Fund (or designated portions thereof) as consisting of two separate REMICs and one grantor trust, without the consent of the Holders of any of the Certificates.


A-25-6









                    Unless the certificate of authentication hereon has been executed by the Certificate Registrar, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.


                    The registered Holder hereof, by its acceptance hereof, agrees that it will look solely to the Trust Fund (to the extent of its rights therein) for distributions hereunder.


                    This Certificate shall be construed in accordance with the internal laws of the State of New York applicable to agreements made and to be performed in said State, and the obligations, rights and remedies of the Holder hereof shall be determined in accordance with such laws.


A-25-7









                    IN WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed.


Dated:  May 23, 2007

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Certificate Registrar
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
   
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-25-8









CERTIFICATE OF AUTHENTICATION


                    This is one of the Class Q Certificates referred to in the within-mentioned Agreement.

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Authenticating Agent
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
   
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-25-9









ASSIGNMENT


                    FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto ________________________________________________________ (please print or typewrite name and address including postal zip code of assignee) the beneficial ownership interest in the Trust Fund evidenced by the within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the registration of transfer of such interest to assignee on the Certificate Register of the Trust Fund.


                    I (we) further direct the Certificate Registrar to issue a new Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and Class to the above named assignee and deliver such Commercial Mortgage Pass-Through Certificate to the following address:  __________________________________________________.


Dated:  _________________________

	
   
  	
  


  
	
  
 
  	
  
Signature by or on behalf of Assignor
  
	
  
 
  	
   
 
	
  
 
  	
   
 
	
  
 
  	
   
 
	
  
 
  	
  


  
	
  
 
  	
  
Signature Guaranteed
  




A-25-10









DISTRIBUTION INSTRUCTIONS


                    The Assignee should include the following for purposes of distribution:


                    Distributions shall, if permitted, be made by wire transfer or otherwise, in immediately available funds, to _____________________________ for the account of _______________.


                    Distributions made by check (such check to be made payable to _____________________) and all applicable statements and notices should be mailed to _________________________.


                    This information is provided by ________________________________, the Assignee named above, or ____________________________________, as its agent.


A-25-11









EXHIBIT A-26


FORM OF CLASS S CERTIFICATE


CLASS S COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
 SERIES 2007-C31


evidencing a beneficial ownership interest in a trust fund (the “Trust Fund”) consisting primarily of a pool of multifamily and commercial mortgage loans (the “Mortgage Loans”), such pool being formed and sold by


WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

	
  
Pass-Through   Rate:  5.134% per annum
  	
  
 
  	
  
Class Principal   Balance of the Class S Certificates as of the Closing Date: $7,306,000
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Date of   Pooling and Servicing Agreement: as of May 1, 2007
  	
  
 
  	
  
Initial   Certificate Principal Balance of this Class S Certificate as of the   Closing Date: $7,306,000
  
	
   
  	
  
 
  	
  
 
  
	
  
Closing   Date:  May 23, 2007
  	
  
 
  	
  
Aggregate   Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date:   $5,845,468,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  
First   Distribution Date:  June 15, 2007
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Master   Servicer:  Wachovia Bank, National   Association
  	
  
 
  	
  
Trustee:   Wells Fargo Bank, N.A.
  
	
  
 
  	
  
 
  	
  
 
  
	
  Special   Servicer:  LNR Partners, Inc.
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Certificate   No. S-1
  	
  
 
  	
  
CUSIP No.
  




UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION (“DTC”), TO THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.


A-26-1









THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS, INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.  NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.


THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933 (THE “SECURITIES ACT”) OR THE SECURITIES LAWS OF ANY STATE.  ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION 5.02 OF THE AGREEMENT REFERRED TO HEREIN.


SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT” (A “REMIC”) AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986 (THE “CODE”).


THIS CERTIFICATE IS SUBORDINATE TO THE CLASS A-1 CERTIFICATES, THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-5 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE CLASS C CERTIFICATES, THE CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE CLASS F CERTIFICATES, THE CLASS G CERTIFICATES, THE CLASS H CERTIFICATES, THE CLASS J CERTIFICATES, THE CLASS K CERTIFICATES, THE CLASS L CERTIFICATES, THE CLASS M CERTIFICATES, THE CLASS N CERTIFICATES, THE CLASS O CERTIFICATES, THE CLASS P CERTIFICATES, THE CLASS Q CERTIFICATES, THE CLASS IO CERTIFICATES AND THE CLASS A-5FL REGULAR INTEREST OF THE SAME SERIES TO THE EXTENT DESCRIBED IN THE AGREEMENT REFERRED TO HEREIN.


NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST THEREIN SHALL BE MADE TO ANY PERSON WHO IS, OR IS ACTING ON BEHALF OF OR WITH ANY ASSETS OF, ANY EMPLOYEE BENEFIT PLAN SUBJECT TO THE FIDUCIARY DUTY PROVISIONS OF TITLE I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), ANY PLAN TO WHICH SECTION 4975 OF THE CODE APPLIES, OR ANY OTHER PLAN OR ARRANGEMENT SUBJECT TO ANY FEDERAL, STATE, OR LOCAL LAW SUBSTANTIVELY SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE, OR ANY ENTITY DEEMED TO HOLD PLAN ASSETS OF THE FOREGOING BY REASON OF A PLAN’S INVESTMENT IN SUCH ENTITY (EACH, A “PLAN”) UNLESS IT IS AN INSURANCE COMPANY GENERAL ACCOUNT THAT IS 


A-26-2









ELIGIBLE FOR, AND SATISFIES ALL OF THE REQUIREMENTS FOR, EXEMPTIVE RELIEF UNDER SECTIONS I AND III OF DEPARTMENT OF LABOR PROHIBITED TRANSACTION CLASS EXEMPTION 95-60. EACH PERSON WHO ACQUIRES THIS CERTIFICATE SHALL BE REQUIRED (OR, IN THE CASE OF A BOOK--ENTRY CERTIFICATE, DEEMED) TO HAVE CERTIFIED THAT THE FOREGOING CONDITIONS ARE SATISFIED, AND THAT IT WILL NOT TRANSFER THIS CERTIFICATE IN VIOLATION OF THE FOREGOING.


IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-1 CERTIFICATES, THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-5 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE CLASS C CERTIFICATES, THE CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE CLASS F CERTIFICATES, THE CLASS G CERTIFICATES, THE CLASS H CERTIFICATES, THE CLASS J CERTIFICATES, THE CLASS K CERTIFICATES, THE CLASS L CERTIFICATES, THE CLASS M CERTIFICATES, THE CLASS N CERTIFICATES, THE CLASS O CERTIFICATES, THE CLASS P CERTIFICATES, THE CLASS Q CERTIFICATES AND THE CLASS A-5FL REGULAR INTEREST OF THE SAME SERIES IS REDUCED TO ZERO, DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE MADE MONTHLY AS SET FORTH IN
THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.  IN ADDITION, THE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS T AND THE CLASS U CERTIFICATE MAY BE REDUCED BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE AGREEMENT REFERRED TO HEREIN.  ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.


                    This certifies that Cede & Co. is the registered owner of the Percentage Interest evidenced by this Class S Certificate (obtained by dividing the principal amount of this Class S Certificate (its “Certificate Principal Balance”) as of the Closing Date by the aggregate principal amount of all the Class S Certificates (their “Class Principal Balance”) as of the Closing Date) in that certain beneficial ownership interest evidenced by all the Class S Certificates in the Trust Fund created pursuant to a Pooling and Servicing Agreement, dated as specified above (the “Agreement”), among Wachovia Commercial Mortgage Securities, Inc. (herein called the “Depositor”, which term includes any successor entity under the Agreement), Wachovia Bank, National Association
(herein called the “Master Servicer”, which term includes any successor entity under the Agreement), LNR Partners, Inc. (herein called the “Special Servicer”, which term includes any successor entity under the Agreement) and Wells Fargo Bank, N.A. (herein called the “Trustee”, which term includes any successor entity under the Agreement), a summary of certain of the pertinent provisions of which is set forth hereafter.  To the extent not defined herein, the capitalized terms used herein have the respective meanings assigned in the Agreement.  This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound.


A-26-3









                    Pursuant to the terms of the Agreement, distributions will be made on the fourth Business Day following the related Determination Date (each, a “Distribution Date”).  The Determination Date is the 11th day of each month or, if such 11th day is not a Business Day, the Business Day immediately succeeding, commencing in June 2007 (each, a “Determination Date”).  Distributions will be made commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the last Business Day of the month immediately preceding the month of such distribution (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount required to be distributed to the Holders of
the Class S Certificates on the applicable Distribution Date pursuant to the Agreement.  All distributions made under the Agreement on the Class S Certificates will be made by Wells Fargo Bank, N.A., as paying agent (the “Paying Agent”), by wire transfer of immediately available funds to the account of the Person entitled thereto at a bank or other entity having appropriate facilities therefor, if such Certificateholder shall have provided the Paying Agent with wiring instructions no less than five Business Days prior to the related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions), or otherwise by check mailed to the address of such Certificateholder as it appears in the Certificate Register.  Notwithstanding the foregoing, the final distribution on this Certificate (determined without regard to any possible future reimbursement of any Realized Loss or Additional Trust Fund Expense previously allocated
to this Certificate) will be made in like manner, but only upon presentation and surrender of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to the Holder hereof of such final distribution.  Also notwithstanding the foregoing, any distribution that may be made with respect to this Certificate in reimbursement of any Realized Loss or Additional Trust Fund Expense previously allocated to this Certificate, which reimbursement is to occur after the date on which this Certificate is surrendered as contemplated by the preceding sentence, will be made by check mailed to the address of the Holder that surrenders this Certificate as such address last appears in the Certificate Register or to any such other address of which the Paying Agent is subsequently notified in writing.


                    The Certificates are limited in right of distribution to certain collections and recoveries respecting the Mortgage Loans and REO Loans, all as more specifically set forth herein and in the Agreement.  As provided in the Agreement, withdrawals from the Certificate Account, the Distribution Account and, if established, the REO Account may be made from time to time for purposes other than, and, in certain cases, prior to, distributions to Certificateholders, such purposes including the reimbursement of Advances made, or certain expenses incurred, with respect to the Mortgage Loans and the payment of interest on such Advances and expenses.


                    Interest accrued on this Certificate during an Interest Accrual Period, plus any unpaid interest shortfall with respect to this Certificate for any prior Distribution Date, if any, will be payable on the related Distribution Date to the extent provided in the Agreement.  The “Interest Accrual Period” with respect to any Distribution Date and with respect to the Class S Certificates is the calendar month preceding the month in which such Distribution Date occurs and is assumed to consist of 30 days.


                    Any distribution to the Holder of this Certificate in reduction of the Certificate Principal Balance hereof is binding on such Holder and all future Holders of this Certificate and any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such distribution is made upon this Certificate.


A-26-4









                    The Class S Certificates are issuable in fully registered form only without coupons in minimum denominations specified in the Agreement.  As provided in the Agreement and subject to certain limitations therein set forth, the Class S Certificates are exchangeable for new Class S Certificates in authorized denominations evidencing the same aggregate Percentage Interest, as requested by the Holder surrendering the same.


                    As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices of the Certificate Registrar, duly endorsed by, or accompanied by a written instrument of transfer in the form satisfactory to the Certificate Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Class S Certificates in authorized denominations evidencing the same aggregate Percentage Interest will be issued to the designated transferee or transferees.


                    No transfer of any Class S Certificate shall be made unless that transfer is made pursuant to an effective registration statement under the Securities Act, and effective registration or qualification under applicable state securities laws, or is made in a transaction which does not require such registration or qualification.  If such a transfer is to be made without registration under the Securities Act (other than in connection with the initial issuance thereof or the initial transfer thereof by the Depositor, the Initial Purchaser or their respective affiliates), then the Certificate Registrar shall refuse to register such transfer unless it receives either: (i) a certificate from the Certificateholder desiring to effect such transfer substantially in the form attached as Exhibit F-1 to the Agreement, and a certificate from such
Certificateholder’s prospective transferee substantially in the form attached as either Exhibit F-2, Exhibit F-3, Exhibit F-4, Exhibit F-5 or Exhibit F-6 to the Agreement; or (ii) an Opinion of Counsel reasonably satisfactory to the Certificate Registrar to the effect that such transfer may be made without registration under the Securities Act (which Opinion of Counsel shall not be an expense of the Trust Fund or of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar in their respective capacities as such), together with the written certification(s) as to the facts surrounding such transfer from the Certificateholder desiring to effect such transfer and/or such Certificateholder’s prospective transferee on which such Opinion of Counsel is based.  None of the Depositor, the Trustee, Paying Agent or the Certificate Registrar is obligated to register or qualify the Class S Certificates under the Securities Act or
any other securities law or to take any action not otherwise required under the Agreement to permit the transfer of any Class S Certificate without registration or qualification.  Any Class S Certificateholder desiring to effect such a transfer shall, and by the acceptance of its Class S Certificate agrees to, indemnify the Trustee, the Certificate Registrar, the Paying Agent and the Depositor against any liability that may result if the transfer is not so exempt or is not made in accordance with such federal and state laws.


                    No service charge will be imposed for any registration of transfer or exchange of Class S Certificates, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of Class S Certificates.


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                    Notwithstanding the foregoing, for so long as this Certificate is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC, transfers of interests in this Certificate shall be made through the book-entry facilities of DTC.


                    The Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent and the Certificate Registrar and any agent of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes whatsoever and none of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent, the Certificate Registrar, or any such agent shall be affected by notice to the contrary.


                    The Trust Fund and the obligations created by the Agreement shall terminate upon distribution (or provision for distribution) to the Certificateholders of all amounts held by or on behalf of the Trustee and required to be distributed to them pursuant to the Agreement following the earlier to occur of (i) the final payment (or any advance with respect thereto) or other liquidation of the last Mortgage Loan or REO Property remaining in the Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder at a price determined as provided in the Agreement of all Mortgage Loans and each REO Property remaining in the Trust Fund.  The Agreement permits, but does not require, the Master Servicer, the Special Servicer or the Majority Subordinate
Certificateholder to purchase from the Trust Fund all Mortgage Loans and each REO Property remaining therein.  The exercise of such right will effect early retirement of the Class S Certificates; however, such right to purchase is subject to the aggregate Stated Principal Balance of the Mortgage Pool at the time of purchase being less than 1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date specified on the face hereof.


                    In addition, any exchange by any Certificateholder of all of the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund may be made:  (i) if the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) are held by a single Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-5, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D, Class E, Class F Certificates and Class A-5FL Regular Interest have been paid in full.


                    The Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and obligations of the Depositor, the Master Servicer, the Special Servicer and the Trustee and the rights of the Certificateholders under the Agreement at any time by the Depositor, the Master Servicer, the Special Servicer and the Trustee with the consent of the Holders of Certificates entitled to at least 51% of the Voting Rights allocated to the affected Classes.  Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon this Certificate.  The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to maintain the status of the Trust Fund (or designated portions thereof) as consisting of two separate REMICs and one grantor trust, without the consent of the Holders of any of the Certificates.


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                    Unless the certificate of authentication hereon has been executed by the Certificate Registrar, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.


                    The registered Holder hereof, by its acceptance hereof, agrees that it will look solely to the Trust Fund (to the extent of its rights therein) for distributions hereunder.


                    This Certificate shall be construed in accordance with the internal laws of the State of New York applicable to agreements made and to be performed in said State, and the obligations, rights and remedies of the Holder hereof shall be determined in accordance with such laws.


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                    IN WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed.


Dated:  May 23, 2007

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Certificate Registrar
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
   
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-26-8









CERTIFICATE OF AUTHENTICATION


                    This is one of the Class S Certificates referred to in the within-mentioned Agreement.

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Authenticating Agent
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
   
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-26-9









ASSIGNMENT


                    FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto ________________________________________________________ (please print or typewrite name and address including postal zip code of assignee) the beneficial ownership interest in the Trust Fund evidenced by the within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the registration of transfer of such interest to assignee on the Certificate Register of the Trust Fund.


                    I (we) further direct the Certificate Registrar to issue a new Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and Class to the above named assignee and deliver such Commercial Mortgage Pass-Through Certificate to the following address:  __________________________________________________.


Dated:  _________________________

	
   
  	
  


  
	
  
 
  	
  
Signature by or on behalf of Assignor
  
	
  
 
  	
   
 
	
  
 
  	
   
 
	
  
 
  	
   
 
	
  
 
  	
  


  
	
  
 
  	
  
Signature Guaranteed
  




A-26-10









DISTRIBUTION INSTRUCTIONS


                    The Assignee should include the following for purposes of distribution:


                    Distributions shall, if permitted, be made by wire transfer or otherwise, in immediately available funds, to _____________________________ for the account of _______________.


                    Distributions made by check (such check to be made payable to _____________________) and all applicable statements and notices should be mailed to _________________________.


                    This information is provided by ________________________________, the Assignee named above, or ____________________________________, as its agent.


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EXHIBIT A-27


FORM OF CLASS T CERTIFICATE


CLASS T COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
 SERIES 2007-C31


evidencing a beneficial ownership interest in a trust fund (the “Trust Fund”) consisting primarily of a pool of multifamily and commercial mortgage loans (the “Mortgage Loans”), such pool being formed and sold by


WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

	
  
Pass-Through   Rate:  5.134% per annum
  	
  
 
  	
  
Class Principal   Balance of the Class T Certificates as of the Closing Date: $14,614,000
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Date of   Pooling and Servicing Agreement: as of May 1, 2007
  	
  
 
  	
  
Initial   Certificate Principal Balance of this Class T Certificate as of the   Closing Date: $14,614,000
  
	
   
  	
  
 
  	
  
 
  
	
  
Closing   Date:  May 23, 2007
  	
  
 
  	
  
Aggregate   Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date:   $5,845,468,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  
First   Distribution Date:  June 15, 2007
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Master   Servicer:  Wachovia Bank, National   Association
  	
  
 
  	
  
Trustee:   Wells Fargo Bank, N.A.
  
	
  
 
  	
  
 
  	
  
 
  
	
  Special   Servicer:  LNR Partners, Inc.
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Certificate   No. T-1
  	
  
 
  	
  
CUSIP No.
  




UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION (“DTC”), TO THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.


A-27-1









THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS, INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.  NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.


THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933 (THE “SECURITIES ACT”) OR THE SECURITIES LAWS OF ANY STATE.  ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION 5.02 OF THE AGREEMENT REFERRED TO HEREIN.


SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT” (A “REMIC”) AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986 (THE “CODE”).


THIS CERTIFICATE IS SUBORDINATE TO THE CLASS A-1 CERTIFICATES, THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-5 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE CLASS C CERTIFICATES, THE CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE CLASS F CERTIFICATES, THE CLASS G CERTIFICATES, THE CLASS H CERTIFICATES, THE CLASS J CERTIFICATES, THE CLASS K CERTIFICATES, THE CLASS L CERTIFICATES, THE CLASS M CERTIFICATES, THE CLASS N CERTIFICATES, THE CLASS O CERTIFICATES, THE CLASS P CERTIFICATES, THE CLASS Q CERTIFICATES, THE CLASS S CERTFICATES, THE CLASS IO CERTIFICATES AND THE CLASS A-5FL REGULAR INTEREST OF THE SAME SERIES TO THE EXTENT DESCRIBED IN THE AGREEMENT REFERRED TO HEREIN.


NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST THEREIN SHALL BE MADE TO ANY PERSON WHO IS, OR IS ACTING ON BEHALF OF OR WITH ANY ASSETS OF, ANY EMPLOYEE BENEFIT PLAN SUBJECT TO THE FIDUCIARY DUTY PROVISIONS OF TITLE I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), ANY PLAN TO WHICH SECTION 4975 OF THE CODE APPLIES, OR ANY OTHER PLAN OR ARRANGEMENT SUBJECT TO ANY FEDERAL, STATE, OR LOCAL LAW SUBSTANTIVELY SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE, OR ANY ENTITY DEEMED TO HOLD PLAN ASSETS OF THE FOREGOING BY REASON OF A PLAN’S INVESTMENT IN SUCH ENTITY (EACH, A “PLAN”) 


A-27-2









UNLESS IT IS AN INSURANCE COMPANY GENERAL ACCOUNT THAT IS ELIGIBLE FOR, AND SATISFIES ALL OF THE REQUIREMENTS FOR, EXEMPTIVE RELIEF UNDER SECTIONS I AND III OF DEPARTMENT OF LABOR PROHIBITED TRANSACTION CLASS EXEMPTION 95-60. EACH PERSON WHO ACQUIRES THIS CERTIFICATE SHALL BE REQUIRED (OR, IN THE CASE OF A BOOK--ENTRY CERTIFICATE, DEEMED) TO HAVE CERTIFIED THAT THE FOREGOING CONDITIONS ARE SATISFIED, AND THAT IT WILL NOT TRANSFER THIS CERTIFICATE IN VIOLATION OF THE FOREGOING.


IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-1 CERTIFICATES, THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-5 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE CLASS C CERTIFICATES, THE CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE CLASS F CERTIFICATES, THE CLASS G CERTIFICATES, THE CLASS H CERTIFICATES, THE CLASS J CERTIFICATES, THE CLASS K CERTIFICATES, THE CLASS L CERTIFICATES, THE CLASS M CERTIFICATES, THE CLASS N CERTIFICATES, THE CLASS O CERTIFICATES, THE CLASS P CERTIFICATES, THE CLASS Q CERTIFICATES, THE CLASS S CERTIFICATES AND THE CLASS A-5FL REGULAR INTEREST OF THE SAME SERIES IS REDUCED TO ZERO, DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE MADE

MONTHLY AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.  IN ADDITION, THE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS U CERTIFICATE MAY BE REDUCED BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE AGREEMENT REFERRED TO HEREIN.  ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.


                    This certifies that Cede & Co. is the registered owner of the Percentage Interest evidenced by this Class T Certificate (obtained by dividing the principal amount of this Class T Certificate (its “Certificate Principal Balance”) as of the Closing Date by the aggregate principal amount of all the Class T Certificates (their “Class Principal Balance”) as of the Closing Date) in that certain beneficial ownership interest evidenced by all the Class T Certificates in the Trust Fund created pursuant to a Pooling and Servicing Agreement, dated as specified above (the “Agreement”), among Wachovia Commercial Mortgage Securities, Inc. (herein called the “Depositor”, which term includes any successor entity under the Agreement), Wachovia Bank, National Association
(herein called the “Master Servicer”, which term includes any successor entity under the Agreement), LNR Partners, Inc. (herein called the “Special Servicer”, which term includes any successor entity under the Agreement) and Wells Fargo Bank, N.A. (herein called the “Trustee”, which term includes any successor entity under the Agreement), a summary of certain of the pertinent provisions of which is set forth hereafter.  To the extent not defined herein, the capitalized terms used herein have the respective meanings assigned in the Agreement.  This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound.


A-27-3









                    Pursuant to the terms of the Agreement, distributions will be made on the fourth Business Day following the related Determination Date (each, a “Distribution Date”).  The Determination Date is the 11th day of each month or, if such 11th day is not a Business Day, the Business Day immediately succeeding, commencing in June 2007 (each, a “Determination Date”).  Distributions will be made commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the last Business Day of the month immediately preceding the month of such distribution (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount required to be distributed to the Holders of
the Class T Certificates on the applicable Distribution Date pursuant to the Agreement.  All distributions made under the Agreement on the Class T Certificates will be made by Wells Fargo Bank, N.A., as paying agent (the “Paying Agent”), by wire transfer of immediately available funds to the account of the Person entitled thereto at a bank or other entity having appropriate facilities therefor, if such Certificateholder shall have provided the Paying Agent with wiring instructions no less than five Business Days prior to the related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions), or otherwise by check mailed to the address of such Certificateholder as it appears in the Certificate Register.  Notwithstanding the foregoing, the final distribution on this Certificate (determined without regard to any possible future reimbursement of any Realized Loss or Additional Trust Fund Expense previously allocated
to this Certificate) will be made in like manner, but only upon presentation and surrender of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to the Holder hereof of such final distribution.  Also notwithstanding the foregoing, any distribution that may be made with respect to this Certificate in reimbursement of any Realized Loss or Additional Trust Fund Expense previously allocated to this Certificate, which reimbursement is to occur after the date on which this Certificate is surrendered as contemplated by the preceding sentence, will be made by check mailed to the address of the Holder that surrenders this Certificate as such address last appears in the Certificate Register or to any such other address of which the Paying Agent is subsequently notified in writing.


                    The Certificates are limited in right of distribution to certain collections and recoveries respecting the Mortgage Loans and REO Loans, all as more specifically set forth herein and in the Agreement.  As provided in the Agreement, withdrawals from the Certificate Account, the Distribution Account and, if established, the REO Account may be made from time to time for purposes other than, and, in certain cases, prior to, distributions to Certificateholders, such purposes including the reimbursement of Advances made, or certain expenses incurred, with respect to the Mortgage Loans and the payment of interest on such Advances and expenses.


                    Interest accrued on this Certificate during an Interest Accrual Period, plus any unpaid interest shortfall with respect to this Certificate for any prior Distribution Date, if any, will be payable on the related Distribution Date to the extent provided in the Agreement.  The “Interest Accrual Period” with respect to any Distribution Date and with respect to the Class T Certificates is the calendar month preceding the month in which such Distribution Date occurs and is assumed to consist of 30 days.


A-27-4









                    Any distribution to the Holder of this Certificate in reduction of the Certificate Principal Balance hereof is binding on such Holder and all future Holders of this Certificate and any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such distribution is made upon this Certificate.


                    The Class T Certificates are issuable in fully registered form only without coupons in minimum denominations specified in the Agreement.  As provided in the Agreement and subject to certain limitations therein set forth, the Class T Certificates are exchangeable for new Class T Certificates in authorized denominations evidencing the same aggregate Percentage Interest, as requested by the Holder surrendering the same.


                    As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices of the Certificate Registrar, duly endorsed by, or accompanied by a written instrument of transfer in the form satisfactory to the Certificate Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Class T Certificates in authorized denominations evidencing the same aggregate Percentage Interest will be issued to the designated transferee or transferees.


                    No transfer of any Class T Certificate shall be made unless that transfer is made pursuant to an effective registration statement under the Securities Act, and effective registration or qualification under applicable state securities laws, or is made in a transaction which does not require such registration or qualification.  If such a transfer is to be made without registration under the Securities Act (other than in connection with the initial issuance thereof or the initial transfer thereof by the Depositor, the Initial Purchaser or their respective affiliates), then the Certificate Registrar shall refuse to register such transfer unless it receives either: (i) a certificate from the Certificateholder desiring to effect such transfer substantially in the form attached as Exhibit F-1 to the Agreement, and a certificate from such
Certificateholder’s prospective transferee substantially in the form attached as either Exhibit F-2, Exhibit F-3, Exhibit F-4, Exhibit F-5 or Exhibit F-6 to the Agreement; or (ii) an Opinion of Counsel reasonably satisfactory to the Certificate Registrar to the effect that such transfer may be made without registration under the Securities Act (which Opinion of Counsel shall not be an expense of the Trust Fund or of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar in their respective capacities as such), together with the written certification(s) as to the facts surrounding such transfer from the Certificateholder desiring to effect such transfer and/or such Certificateholder’s prospective transferee on which such Opinion of Counsel is based.  None of the Depositor, the Trustee, Paying Agent or the Certificate Registrar is obligated to register or qualify the Class T Certificates under the Securities Act or
any other securities law or to take any action not otherwise required under the Agreement to permit the transfer of any Class T Certificate without registration or qualification.  Any Class T Certificateholder desiring to effect such a transfer shall, and by the acceptance of its Class T Certificate agrees to, indemnify the Trustee, the Certificate Registrar, the Paying Agent and the Depositor against any liability that may result if the transfer is not so exempt or is not made in accordance with such federal and state laws.


                    No service charge will be imposed for any registration of transfer or exchange of Class T Certificates, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of Class T Certificates.


A-27-5









                    Notwithstanding the foregoing, for so long as this Certificate is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC, transfers of interests in this Certificate shall be made through the book-entry facilities of DTC.


                    The Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent and the Certificate Registrar and any agent of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes whatsoever and none of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent, the Certificate Registrar, or any such agent shall be affected by notice to the contrary.


                    The Trust Fund and the obligations created by the Agreement shall terminate upon distribution (or provision for distribution) to the Certificateholders of all amounts held by or on behalf of the Trustee and required to be distributed to them pursuant to the Agreement following the earlier to occur of (i) the final payment (or any advance with respect thereto) or other liquidation of the last Mortgage Loan or REO Property remaining in the Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder at a price determined as provided in the Agreement of all Mortgage Loans and each REO Property remaining in the Trust Fund.  The Agreement permits, but does not require, the Master Servicer, the Special Servicer or the Majority Subordinate
Certificateholder to purchase from the Trust Fund all Mortgage Loans and each REO Property remaining therein.  The exercise of such right will effect early retirement of the Class T Certificates; however, such right to purchase is subject to the aggregate Stated Principal Balance of the Mortgage Pool at the time of purchase being less than 1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date specified on the face hereof.


                    In addition, any exchange by any Certificateholder of all of the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund may be made:  (i) if the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) are held by a single Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-5, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D, Class E, Class F Certificates and Class A-5FL Regular Interest have been paid in full.


                    The Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and obligations of the Depositor, the Master Servicer, the Special Servicer and the Trustee and the rights of the Certificateholders under the Agreement at any time by the Depositor, the Master Servicer, the Special Servicer and the Trustee with the consent of the Holders of Certificates entitled to at least 51% of the Voting Rights allocated to the affected Classes.  Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon this Certificate.  The Agreement also permits the amendment
thereof, 


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in certain limited circumstances, including any amendment necessary to maintain the status of the Trust Fund (or designated portions thereof) as consisting of two separate REMICs and one grantor trust, without the consent of the Holders of any of the Certificates.


                    Unless the certificate of authentication hereon has been executed by the Certificate Registrar, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.


                    The registered Holder hereof, by its acceptance hereof, agrees that it will look solely to the Trust Fund (to the extent of its rights therein) for distributions hereunder.


                    This Certificate shall be construed in accordance with the internal laws of the State of New York applicable to agreements made and to be performed in said State, and the obligations, rights and remedies of the Holder hereof shall be determined in accordance with such laws.


A-27-7









                    IN WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed.


Dated:  May 23, 2007

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Certificate Registrar
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
   
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-27-8









CERTIFICATE OF AUTHENTICATION


                    This is one of the Class T Certificates referred to in the within-mentioned Agreement.

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Authenticating Agent
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
   
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-27-9









ASSIGNMENT


                    FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto ________________________________________________________ (please print or typewrite name and address including postal zip code of assignee) the beneficial ownership interest in the Trust Fund evidenced by the within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the registration of transfer of such interest to assignee on the Certificate Register of the Trust Fund.


                    I (we) further direct the Certificate Registrar to issue a new Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and Class to the above named assignee and deliver such Commercial Mortgage Pass-Through Certificate to the following address:  __________________________________________________.


Dated:  _________________________

	
   
  	
  


  
	
  
 
  	
  
Signature by or on behalf of Assignor
  
	
  
 
  	
   
 
	
  
 
  	
   
 
	
  
 
  	
   
 
	
  
 
  	
  


  
	
  
 
  	
  
Signature Guaranteed
  




A-27-10









DISTRIBUTION INSTRUCTIONS


                    The Assignee should include the following for purposes of distribution:


                    Distributions shall, if permitted, be made by wire transfer or otherwise, in immediately available funds, to _____________________________ for the account of _______________.


                    Distributions made by check (such check to be made payable to _____________________) and all applicable statements and notices should be mailed to _________________________.


                    This information is provided by ________________________________, the Assignee named above, or ____________________________________, as its agent.


A-27-11









EXHIBIT A-28


FORM OF CLASS U CERTIFICATE


CLASS U COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
 SERIES 2007-C31


evidencing a beneficial ownership interest in a trust fund (the “Trust Fund”) consisting primarily of a pool of multifamily and commercial mortgage loans (the “Mortgage Loans”), such pool being formed and sold by


WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

	
  
Pass-Through   Rate:  5.134% per annum
  	
  
 
  	
  
Class Principal   Balance of the Class U Certificates as of the Closing Date: $58,455,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Date of   Pooling and Servicing Agreement: as of May 1, 2007
  	
  
 
  	
  
Initial   Certificate Principal Balance of this Class U Certificate as of the   Closing Date: $58,455,231
  
	
   
  	
  
 
  	
  
 
  
	
  
Closing   Date:  May 23, 2007
  	
  
 
  	
  
Aggregate   Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date:   $5,845,468,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  
First   Distribution Date:  June 15, 2007
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Master   Servicer:  Wachovia Bank, National   Association
  	
  
 
  	
  
Trustee:   Wells Fargo Bank, N.A.
  
	
  
 
  	
  
 
  	
  
 
  
	
  Special   Servicer:  LNR Partners, Inc.
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Certificate   No. U-1
  	
  
 
  	
  
CUSIP No.
  




UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION (“DTC”), TO THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.


A-28-1









THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS, INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.  NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.


THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933 (THE “SECURITIES ACT”) OR THE SECURITIES LAWS OF ANY STATE.  ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION 5.02 OF THE AGREEMENT REFERRED TO HEREIN.


SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT” (A “REMIC”) AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986 (THE “CODE”).


THIS CERTIFICATE IS SUBORDINATE TO THE CLASS A-1 CERTIFICATES, THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-5 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE CLASS C CERTIFICATES, THE CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE CLASS F CERTIFICATES, THE CLASS G CERTIFICATES, THE CLASS H CERTIFICATES, THE CLASS J CERTIFICATES, THE CLASS K CERTIFICATES, THE CLASS L CERTIFICATES, THE CLASS M CERTIFICATES, THE CLASS N CERTIFICATES, THE CLASS O CERTIFICATES, THE CLASS P CERTIFICATES, THE CLASS Q CERTIFICATES, THE CLASS S CERTIFICATE, THE CLASS T CERTIFICATE, THE CLASS IO CERTIFICATES AND THE CLASS A-5FL REGULAR INTEREST OF THE SAME SERIES TO THE EXTENT DESCRIBED IN THE AGREEMENT REFERRED TO HEREIN.


NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST THEREIN SHALL BE MADE TO ANY PERSON WHO IS, OR IS ACTING ON BEHALF OF OR WITH ANY ASSETS OF, ANY EMPLOYEE BENEFIT PLAN SUBJECT TO THE FIDUCIARY DUTY PROVISIONS OF TITLE I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), ANY PLAN TO WHICH SECTION 4975 OF THE CODE APPLIES, OR ANY OTHER PLAN OR ARRANGEMENT SUBJECT TO ANY FEDERAL, STATE, OR LOCAL LAW SUBSTANTIVELY SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE, OR ANY ENTITY DEEMED TO HOLD PLAN ASSETS OF THE FOREGOING BY REASON OF A PLAN’S INVESTMENT IN SUCH ENTITY (EACH, A “PLAN”) 


A-28-2









UNLESS IT IS AN INSURANCE COMPANY GENERAL ACCOUNT THAT IS ELIGIBLE FOR, AND SATISFIES ALL OF THE REQUIREMENTS FOR, EXEMPTIVE RELIEF UNDER SECTIONS I AND III OF DEPARTMENT OF LABOR PROHIBITED TRANSACTION CLASS EXEMPTION 95-60. EACH PERSON WHO ACQUIRES THIS CERTIFICATE SHALL BE REQUIRED (OR, IN THE CASE OF A BOOK--ENTRY CERTIFICATE, DEEMED) TO HAVE CERTIFIED THAT THE FOREGOING CONDITIONS ARE SATISFIED, AND THAT IT WILL NOT TRANSFER THIS CERTIFICATE IN VIOLATION OF THE FOREGOING.


IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-1 CERTIFICATES, THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-5 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE CLASS C CERTIFICATES, THE CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE CLASS F CERTIFICATES, THE CLASS G CERTIFICATES, THE CLASS H CERTIFICATES, THE CLASS J CERTIFICATES, THE CLASS K CERTIFICATES, THE CLASS L CERTIFICATES, THE CLASS M CERTIFICATES, THE CLASS N CERTIFICATES, THE CLASS O CERTIFICATES, THE CLASS P CERTIFICATES, THE CLASS Q CERTIFICATES, THE CLASS S CERTIFICATES, THE CLASS T CERTIFICATES AND THE CLASS A-5FL REGULAR INTEREST OF THE SAME SERIES IS REDUCED TO ZERO, DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF
THIS CERTIFICATE MAY BE MADE MONTHLY AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.  IN ADDITION, THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE REDUCED BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE AGREEMENT REFERRED TO HEREIN.  ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.


                    This certifies that Cede & Co. is the registered owner of the Percentage Interest evidenced by this Class U Certificate (obtained by dividing the principal amount of this Class U Certificate (its “Certificate Principal Balance”) as of the Closing Date by the aggregate principal amount of all the Class U Certificates (their “Class Principal Balance”) as of the Closing Date) in that certain beneficial ownership interest evidenced by all the Class U Certificates in the Trust Fund created pursuant to a Pooling and Servicing Agreement, dated as specified above (the “Agreement”), among Wachovia Commercial Mortgage Securities, Inc. (herein called the “Depositor”, which term includes any successor entity under the Agreement), Wachovia Bank, National Association
(herein called the “Master Servicer”, which term includes any successor entity under the Agreement), LNR Partners, Inc. (herein called the “Special Servicer”, which term includes any successor entity under the Agreement) and Wells Fargo Bank, N.A. (herein called the “Trustee”, which term includes any successor entity under the Agreement), a summary of certain of the pertinent provisions of which is set forth hereafter.  To the extent not defined herein, the capitalized terms used herein have the respective meanings assigned in the Agreement.  This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound.


A-28-3









                    Pursuant to the terms of the Agreement, distributions will be made on the fourth Business Day following the related Determination Date (each, a “Distribution Date”).  The Determination Date is the 11th day of each month or, if such 11th day is not a Business Day, the Business Day immediately succeeding, commencing in June 2007 (each, a “Determination Date”).  Distributions will be made commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the last Business Day of the month immediately preceding the month of such distribution (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount required to be distributed to the Holders of
the Class U Certificates on the applicable Distribution Date pursuant to the Agreement.  All distributions made under the Agreement on the Class U Certificates will be made by Wells Fargo Bank, N.A., as paying agent (the “Paying Agent”), by wire transfer of immediately available funds to the account of the Person entitled thereto at a bank or other entity having appropriate facilities therefor, if such Certificateholder shall have provided the Paying Agent with wiring instructions no less than five Business Days prior to the related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions), or otherwise by check mailed to the address of such Certificateholder as it appears in the Certificate Register.  Notwithstanding the foregoing, the final distribution on this Certificate (determined without regard to any possible future reimbursement of any Realized Loss or Additional Trust Fund Expense previously allocated
to this Certificate) will be made in like manner, but only upon presentation and surrender of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to the Holder hereof of such final distribution.  Also notwithstanding the foregoing, any distribution that may be made with respect to this Certificate in reimbursement of any Realized Loss or Additional Trust Fund Expense previously allocated to this Certificate, which reimbursement is to occur after the date on which this Certificate is surrendered as contemplated by the preceding sentence, will be made by check mailed to the address of the Holder that surrenders this Certificate as such address last appears in the Certificate Register or to any such other address of which the Paying Agent is subsequently notified in writing.


                    The Certificates are limited in right of distribution to certain collections and recoveries respecting the Mortgage Loans and REO Loans, all as more specifically set forth herein and in the Agreement.  As provided in the Agreement, withdrawals from the Certificate Account, the Distribution Account and, if established, the REO Account may be made from time to time for purposes other than, and, in certain cases, prior to, distributions to Certificateholders, such purposes including the reimbursement of Advances made, or certain expenses incurred, with respect to the Mortgage Loans and the payment of interest on such Advances and expenses.


                    Interest accrued on this Certificate during an Interest Accrual Period, plus any unpaid interest shortfall with respect to this Certificate for any prior Distribution Date, if any, will be payable on the related Distribution Date to the extent provided in the Agreement.  The “Interest Accrual Period” with respect to any Distribution Date and with respect to the Class U Certificates is the calendar month preceding the month in which such Distribution Date occurs and is assumed to consist of 30 days.


A-28-4









                    Any distribution to the Holder of this Certificate in reduction of the Certificate Principal Balance hereof is binding on such Holder and all future Holders of this Certificate and any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such distribution is made upon this Certificate.


                    The Class U Certificates are issuable in fully registered form only without coupons in minimum denominations specified in the Agreement.  As provided in the Agreement and subject to certain limitations therein set forth, the Class U Certificates are exchangeable for new Class U Certificates in authorized denominations evidencing the same aggregate Percentage Interest, as requested by the Holder surrendering the same.


                    As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices of the Certificate Registrar, duly endorsed by, or accompanied by a written instrument of transfer in the form satisfactory to the Certificate Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Class U Certificates in authorized denominations evidencing the same aggregate Percentage Interest will be issued to the designated transferee or transferees.


                    No transfer of any Class U Certificate shall be made unless that transfer is made pursuant to an effective registration statement under the Securities Act, and effective registration or qualification under applicable state securities laws, or is made in a transaction which does not require such registration or qualification.  If such a transfer is to be made without registration under the Securities Act (other than in connection with the initial issuance thereof or the initial transfer thereof by the Depositor, the Initial Purchaser or their respective affiliates), then the Certificate Registrar shall refuse to register such transfer unless it receives either: (i) a certificate from the Certificateholder desiring to effect such transfer substantially in the form attached as Exhibit F-1 to the Agreement, and a certificate from such
Certificateholder’s prospective transferee substantially in the form attached as either Exhibit F-2, Exhibit F-3, Exhibit F-4, Exhibit F-5 or Exhibit F-6 to the Agreement; or (ii) an Opinion of Counsel reasonably satisfactory to the Certificate Registrar to the effect that such transfer may be made without registration under the Securities Act (which Opinion of Counsel shall not be an expense of the Trust Fund or of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar in their respective capacities as such), together with the written certification(s) as to the facts surrounding such transfer from the Certificateholder desiring to effect such transfer and/or such Certificateholder’s prospective transferee on which such Opinion of Counsel is based.  None of the Depositor, the Trustee, Paying Agent or the Certificate Registrar is obligated to register or qualify the Class U Certificates under the Securities Act or
any other securities law or to take any action not otherwise required under the Agreement to permit the transfer of any Class U Certificate without registration or qualification.  Any Class U Certificateholder desiring to effect such a transfer shall, and by the acceptance of its Class U Certificate agrees to, indemnify the Trustee, the Certificate Registrar, the Paying Agent and the Depositor against any liability that may result if the transfer is not so exempt or is not made in accordance with such federal and state laws.


                    No service charge will be imposed for any registration of transfer or exchange of Class U Certificates, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of Class U Certificates.


A-28-5









                    Notwithstanding the foregoing, for so long as this Certificate is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC, transfers of interests in this Certificate shall be made through the book-entry facilities of DTC.


                    The Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent and the Certificate Registrar and any agent of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes whatsoever and none of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent, the Certificate Registrar, or any such agent shall be affected by notice to the contrary.


                    The Trust Fund and the obligations created by the Agreement shall terminate upon distribution (or provision for distribution) to the Certificateholders of all amounts held by or on behalf of the Trustee and required to be distributed to them pursuant to the Agreement following the earlier to occur of (i) the final payment (or any advance with respect thereto) or other liquidation of the last Mortgage Loan or REO Property remaining in the Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder at a price determined as provided in the Agreement of all Mortgage Loans and each REO Property remaining in the Trust Fund.  The Agreement permits, but does not require, the Master Servicer, the Special Servicer or the Majority Subordinate
Certificateholder to purchase from the Trust Fund all Mortgage Loans and each REO Property remaining therein.  The exercise of such right will effect early retirement of the Class U Certificates; however, such right to purchase is subject to the aggregate Stated Principal Balance of the Mortgage Pool at the time of purchase being less than 1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date specified on the face hereof.


                    In addition, any exchange by any Certificateholder of all of the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund may be made:  (i) if the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) are held by a single Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-5, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D, Class E, Class F Certificates and Class A-5FL Regular Interest have been paid in full.


                    The Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and obligations of the Depositor, the Master Servicer, the Special Servicer and the Trustee and the rights of the Certificateholders under the Agreement at any time by the Depositor, the Master Servicer, the Special Servicer and the Trustee with the consent of the Holders of Certificates entitled to at least 51% of the Voting Rights allocated to the affected Classes.  Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon this Certificate.  The Agreement also permits the amendment
thereof, 


A-28-6









in certain limited circumstances, including any amendment necessary to maintain the status of the Trust Fund (or designated portions thereof) as consisting of two separate REMICs and one grantor trust, without the consent of the Holders of any of the Certificates.


                    Unless the certificate of authentication hereon has been executed by the Certificate Registrar, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.


                    The registered Holder hereof, by its acceptance hereof, agrees that it will look solely to the Trust Fund (to the extent of its rights therein) for distributions hereunder.


                    This Certificate shall be construed in accordance with the internal laws of the State of New York applicable to agreements made and to be performed in said State, and the obligations, rights and remedies of the Holder hereof shall be determined in accordance with such laws.


A-28-7









                    IN WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed.


Dated:  May 23, 2007

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Certificate Registrar
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
   
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-28-8









CERTIFICATE OF AUTHENTICATION


                    This is one of the Class U Certificates referred to in the within-mentioned Agreement.

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Authenticating Agent
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
   
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-28-9









ASSIGNMENT


                    FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto ________________________________________________________ (please print or typewrite name and address including postal zip code of assignee) the beneficial ownership interest in the Trust Fund evidenced by the within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the registration of transfer of such interest to assignee on the Certificate Register of the Trust Fund.


                    I (we) further direct the Certificate Registrar to issue a new Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and Class to the above named assignee and deliver such Commercial Mortgage Pass-Through Certificate to the following address:  __________________________________________________.


Dated:  _________________________

	
   
  	
  


  
	
  
 
  	
  
Signature by or on behalf of Assignor
  
	
  
 
  	
   
 
	
  
 
  	
   
 
	
  
 
  	
   
 
	
  
 
  	
  


  
	
  
 
  	
  
Signature Guaranteed
  




A-28-10









DISTRIBUTION INSTRUCTIONS


                    The Assignee should include the following for purposes of distribution:


                    Distributions shall, if permitted, be made by wire transfer or otherwise, in immediately available funds, to _____________________________ for the account of _______________.


                    Distributions made by check (such check to be made payable to _____________________) and all applicable statements and notices should be mailed to _________________________.


                    This information is provided by ________________________________, the Assignee named above, or ____________________________________, as its agent.


A-28-11









EXHIBIT A-29-1


FORM OF CLASS IO CERTIFICATE


CLASS IO COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
 SERIES 2007-C31


evidencing a beneficial ownership interest in a trust fund (the “Trust Fund”) consisting primarily of a pool of multifamily and commercial mortgage loans (the “Mortgage Loans”), such pool being formed and sold by


WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

	
  
Pass-Through   Rate:  Variable#IO
  	
  
 
  	
  
Aggregate   Certificate Notional Amount of the Class IO Certificates as of the   Closing Date: $5,845,468,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Date of   Pooling and Servicing Agreement: as of May 1, 2007
  	
  
 
  	
  
Certificate   Notional Amount of this Class IO Certificate as of the Closing Date:   $500,000,000
  
	
   
  	
  
 
  	
  
 
  
	
  
Closing   Date:  May 23, 2007
  	
  
 
  	
  
Aggregate   Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date:   $5,845,468,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  
First   Distribution Date:  June 15, 2007
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Master   Servicer:  Wachovia Bank, National   Association
  	
  
 
  	
  
Trustee:   Wells Fargo Bank, N.A.
  
	
  
 
  	
  
 
  	
  
 
  
	
  Special   Servicer:  LNR Partners, Inc.
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Certificate   No. IO-1
  	
  
 
  	
  
CUSIP No.
  




THIS CERTIFICATE DOES NOT HAVE A CERTIFICATE PRINCIPAL BALANCE AND WILL NOT ENTITLE THE HOLDER HEREOF TO DISTRIBUTIONS OF PRINCIPAL, BUT IS ENTITLED TO RECEIVE DISTRIBUTIONS OF INTEREST ONLY ON A NOTIONAL AMOUNT AS SET FORTH IN THE AGREEMENT.


UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION (“DTC”), TO THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE 


A-29-1-1









OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.


THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.  NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.


THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933 (THE “SECURITIES ACT”) OR THE SECURITIES LAWS OF ANY STATE.  ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION 5.02 OF THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.


SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT” (A “REMIC”) AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986 (THE “CODE”).


BECAUSE THE COMPONENTS COMPRISING THE NOTIONAL AMOUNT OF THE CLASS IO CERTIFICATES WILL BE REDUCED BY ANY DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THE CERTIFICATES RELATING TO SUCH COMPONENTS AND BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND WHICH ARE ALLOCATED TO SUCH CERTIFICATES RELATING TO SUCH COMPONENTS AS SET FORTH IN THE AGREEMENT, THE OUTSTANDING NOTIONAL AMOUNT HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE. 


                    This certifies that Cede & Co. is the registered owner of the Percentage Interest evidenced by this Class IO Certificate in that certain beneficial ownership interest evidenced by all the Class IO Certificates in the Trust Fund created pursuant to a Pooling and Servicing Agreement, dated as specified above (the “Agreement”), among Wachovia Commercial Mortgage Securities, Inc. (herein called the “Depositor”, which term includes any successor entity under the Agreement), Wachovia Bank, National Association (herein called the “Master Servicer”, which term includes any successor entity under the Agreement), LNR Partners, Inc. (herein called the “Special Servicer”, which term includes any successor entity under the Agreement) and Wells Fargo Bank, N.A. (herein called the
“Trustee”, which term includes any successor entity under the Agreement), a summary of certain of the pertinent provisions of which 


A-29-1-2









is set forth hereafter.  To the extent not defined herein, the capitalized terms used herein have the respective meanings assigned in the Agreement.  This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound.


                    Pursuant to the terms of the Agreement, distributions will be made on the fourth Business Day following the related Determination Date (each, a “Distribution Date”).  The Determination Date is the 11th day of each month or, if such 11th day is not a Business Day, the Business Day immediately succeeding, commencing in July, 2006 (each, a “Determination Date”).  Distributions will be made commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the last Business Day of the month immediately preceding the month of such distribution (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount required to be distributed to the Holders of
the Class IO Certificates on the applicable Distribution Date pursuant to the Agreement.  The Pass-Through Rate applicable to the Class IO Certificates for each Distribution Date is as provided in the Agreement.  All distributions made under the Agreement on the Class IO Certificates will be made by Wells Fargo Bank, N.A., as paying agent (the “Paying Agent”), by wire transfer of immediately available funds to the account of the Person entitled thereto at a bank or other entity having appropriate facilities therefor, if such Certificateholder shall have provided the Paying Agent with wiring instructions no less than five Business Days prior to the related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions), or otherwise by check mailed to the address of such Certificateholder as it appears in the Certificate Register.  Notwithstanding the foregoing, the final distribution on this Certificate will be
made in like manner, but only upon presentation and surrender of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to the Holder hereof of such final distribution. 


                    The Certificates are limited in right of distribution to certain collections and recoveries respecting the Mortgage Loans and REO Loans, all as more specifically set forth herein and in the Agreement.  As provided in the Agreement, withdrawals from the Certificate Account, the Distribution Account and, if established, the REO Account may be made from time to time for purposes other than, and, in certain cases, prior to, distributions to Certificateholders, such purposes including the reimbursement of Advances made, or certain expenses incurred, with respect to the Mortgage Loans and the payment of interest on such Advances and expenses.


                    Interest accrued on this Certificate during an Interest Accrual Period, plus any unpaid interest shortfall with respect to this Certificate for any prior Distribution Date, if any, will be payable on the related Distribution Date to the extent provided in the Agreement.  The “Interest Accrual Period” with respect to any Distribution Date and with respect to the Class IO Certificates is the calendar month preceding the month in which such Distribution Date occurs and is assumed to consist of 30 days.


                    The Class IO Certificates are issuable in fully registered form only without coupons in minimum denominations specified in the Agreement.  As provided in the Agreement and subject to certain limitations therein set forth, Class IO Certificates are exchangeable for new Class IO Certificates in authorized denominations evidencing the same aggregate Percentage Interest, as requested by the Holder surrendering the same.


A-29-1-3









                    As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices of the Certificate Registrar, duly endorsed by, or accompanied by a written instrument of transfer in the form satisfactory to the Certificate Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Class IO Certificates in authorized denominations evidencing the same aggregate Percentage Interest will be issued to the designated transferee or transferees.


                    No transfer of any Class IO Certificate shall be made unless that transfer is made pursuant to an effective registration statement under the Securities Act, and effective registration or qualification under applicable state securities laws, or is made in a transaction which does not require such registration or qualification.  If such a transfer is to be made without registration under the Securities Act (other than in connection with the initial issuance thereof or the initial transfer thereof by the Depositor, the Underwriters or their respective affiliates), then the Certificate Registrar shall refuse to register such transfer unless it receives either: (i) a certificate from the Certificateholder desiring to effect such transfer substantially in the form attached as Exhibit F-1 to the Agreement, and a certificate from such
Certificateholder’s prospective transferee substantially in the form attached as either Exhibit F-2 or Exhibit F-3 to the Agreement; or (ii) an Opinion of Counsel reasonably satisfactory to the Certificate Registrar to the effect that such transfer may be made without registration under the Securities Act (which Opinion of Counsel shall not be an expense of the Trust Fund or of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar in their respective capacities as such), together with the written certification(s) as to the facts surrounding such transfer from the Certificateholder desiring to effect such transfer and/or such Certificateholder’s prospective transferee on which such Opinion of Counsel is based.  None of the Depositor, the Trustee, Paying Agent or the Certificate Registrar is obligated to register or qualify the Class IO Certificates under the Securities Act or any other securities law or to take any action not

otherwise required under the Agreement to permit the transfer of any Class IO Certificate without registration or qualification.  Any Class IO Certificateholder desiring to effect such a transfer shall, and by the acceptance of its Class IO Certificate agrees to, indemnify the Trustee, the Certificate Registrar, the Paying Agent and the Depositor against any liability that may result if the transfer is not so exempt or is not made in accordance with such federal and state laws.


                    No service charge will be imposed for any registration of transfer or exchange of Class IO Certificates, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of Class IO Certificates.


                    Notwithstanding the foregoing, for so long as this Certificate is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC, transfers of interests in this Certificate shall be made through the book-entry facilities of DTC.


A-29-1-4









                    The Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent and the Certificate Registrar and any agent of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes whatsoever and none of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent, the Certificate Registrar, or any such agent shall be affected by notice to the contrary.


                    The Trust Fund and the obligations created by the Agreement shall terminate upon distribution (or provision for distribution) to the Certificateholders of all amounts held by or on behalf of the Trustee and required to be distributed to them pursuant to the Agreement following the earlier to occur of (i) the final payment (or any advance with respect thereto) or other liquidation of the last Mortgage Loan or REO Property remaining in the Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder at a price determined as provided in the Agreement of all Mortgage Loans and each REO Property remaining in the Trust Fund.  The Agreement permits, but does not require, the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder to purchase from the Trust
Fund all Mortgage Loans and each REO Property remaining therein.  The exercise of such right will effect early retirement of the Class IO Certificates; however, such right to purchase is subject to the aggregate Stated Principal Balance of the Mortgage Pool at the time of purchase being less than 1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date specified on the face hereof.


                    In addition, any exchange by any Certificateholder of all of the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund may be made:  (i) if the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) are held by a single Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-1A, Class A-5FL Regular Interest, Class A-M, Class A-J, Class B, Class C, Class D and Class E Certificates have been paid in full.


                    The Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and obligations of the Depositor, the Master Servicer, the Special Servicer and the Trustee and the rights of the Certificateholders under the Agreement at any time by the Depositor, the Master Servicer, the Special Servicer and the Trustee with the consent of the Holders of Certificates entitled to at least 51% of the Voting Rights allocated to the affected Classes.  Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon this Certificate.  The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to maintain the status of the Trust Fund (or designated portions thereof) as consisting of three separate REMICs and two grantor trusts, without the consent of the Holders of any of the Certificates.


                    Unless the certificate of authentication hereon has been executed by the Certificate Registrar, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.


A-29-1-5









                    The registered Holder hereof, by its acceptance hereof, agrees that it will look solely to the Trust Fund (to the extent of its rights therein) for distributions hereunder.


                    This Certificate shall be construed in accordance with the internal laws of the State of New York applicable to agreements made and to be performed in said State, and the obligations, rights and remedies of the Holder hereof shall be determined in accordance with such laws.


A-29-1-6









                    IN WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed.


Dated:  May 23, 2007

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Certificate Registrar
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
   
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-29-1-7









CERTIFICATE OF AUTHENTICATION


                    This is one of the Class IO Certificates referred to in the within-mentioned Agreement.

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Authenticating Agent
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
   
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-29-1-8









ASSIGNMENT


                    FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto ________________________________________________________ (please print or typewrite name and address including postal zip code of assignee) the beneficial ownership interest in the Trust Fund evidenced by the within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the registration of transfer of such interest to assignee on the Certificate Register of the Trust Fund.


                    I (we) further direct the Certificate Registrar to issue a new Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and Class to the above named assignee and deliver such Commercial Mortgage Pass-Through Certificate to the following address:  __________________________________________________.


Dated:  _________________________


	
  
 
  	
  


  
	
  
 
  	
  
Signature by or on behalf of Assignor
  
	
  
 
  	
   
 
	
  
 
  	
   
 
	
  
 
  	
   
 
	
  
 
  	
  


  
	
  
 
  	
  
Signature Guaranteed
  




A-29-1-9









DISTRIBUTION INSTRUCTIONS


                    The Assignee should include the following for purposes of distribution:


                    Distributions shall, if permitted, be made by wire transfer or otherwise, in immediately available funds, to _____________________________ for the account of _______________.


                    Distributions made by check (such check to be made payable to _____________________) and all applicable statements and notices should be mailed to _________________________.


                    This information is provided by ________________________________, the Assignee named above, or ____________________________________, as its agent.


A-29-1-10









EXHIBIT A-29-2


FORM OF CLASS IO CERTIFICATE


CLASS IO COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
 SERIES 2007-C31


evidencing a beneficial ownership interest in a trust fund (the “Trust Fund”) consisting primarily of a pool of multifamily and commercial mortgage loans (the “Mortgage Loans”), such pool being formed and sold by


WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

	
  
Pass-Through   Rate:  Variable#IO
  	
  
 
  	
  
Aggregate   Certificate Notional Amount of the Class IO Certificates as of the   Closing Date: $5,845,468,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  Date of   Pooling and Servicing Agreement: as of May 1, 2007
  	
  
 
  	
  
Certificate   Notional Amount of this Class IO Certificate as of the Closing Date:   $500,000,000
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Closing   Date:  May 23, 2007
  	
  
 
  	
  
Aggregate   Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date:   $5,845,468,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  
First   Distribution Date:  June 15, 2007
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Master   Servicer:  Wachovia Bank, National   Association
  	
  
 
  	
  
Trustee:   Wells Fargo Bank, N.A.
  
	
   
  	
  
 
  	
  
 
  
	
  
Special   Servicer:  LNR Partners, Inc.
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Certificate   No. IO-2
  	
  
 
  	
  
CUSIP No.
  




THIS CERTIFICATE DOES NOT HAVE A CERTIFICATE PRINCIPAL BALANCE AND WILL NOT ENTITLE THE HOLDER HEREOF TO DISTRIBUTIONS OF PRINCIPAL, BUT IS ENTITLED TO RECEIVE DISTRIBUTIONS OF INTEREST ONLY ON A NOTIONAL AMOUNT AS SET FORTH IN THE AGREEMENT.


UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION (“DTC”), TO THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE 


A-29-2-1









OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.


THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.  NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.


THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933 (THE “SECURITIES ACT”) OR THE SECURITIES LAWS OF ANY STATE.  ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION 5.02 OF THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.


SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT” (A “REMIC”) AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986 (THE “CODE”).


BECAUSE THE COMPONENTS COMPRISING THE NOTIONAL AMOUNT OF THE CLASS IO CERTIFICATES WILL BE REDUCED BY ANY DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THE CERTIFICATES RELATING TO SUCH COMPONENTS AND BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND WHICH ARE ALLOCATED TO SUCH CERTIFICATES RELATING TO SUCH COMPONENTS AS SET FORTH IN THE AGREEMENT, THE OUTSTANDING NOTIONAL AMOUNT HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE. 


                    This certifies that Cede & Co. is the registered owner of the Percentage Interest evidenced by this Class IO Certificate in that certain beneficial ownership interest evidenced by all the Class IO Certificates in the Trust Fund created pursuant to a Pooling and Servicing Agreement, dated as specified above (the “Agreement”), among Wachovia Commercial Mortgage Securities, Inc. (herein called the “Depositor”, which term includes any successor entity under the Agreement), Wachovia Bank, National Association (herein called the “Master Servicer”, which term includes any successor entity under the Agreement), LNR Partners, Inc. (herein called the “Special Servicer”, which term includes any successor entity under the Agreement) and Wells Fargo Bank, N.A. (herein called the
“Trustee”, which term includes any successor entity under the Agreement), a summary of certain of the pertinent provisions of which 


A-29-2-2









is set forth hereafter.  To the extent not defined herein, the capitalized terms used herein have the respective meanings assigned in the Agreement.  This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound.


                    Pursuant to the terms of the Agreement, distributions will be made on the fourth Business Day following the related Determination Date (each, a “Distribution Date”).  The Determination Date is the 11th day of each month or, if such 11th day is not a Business Day, the Business Day immediately succeeding, commencing in July, 2006 (each, a “Determination Date”).  Distributions will be made commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the last Business Day of the month immediately preceding the month of such distribution (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount required to be distributed to the Holders of
the Class IO Certificates on the applicable Distribution Date pursuant to the Agreement.  The Pass-Through Rate applicable to the Class IO Certificates for each Distribution Date is as provided in the Agreement.  All distributions made under the Agreement on the Class IO Certificates will be made by Wells Fargo Bank, N.A., as paying agent (the “Paying Agent”), by wire transfer of immediately available funds to the account of the Person entitled thereto at a bank or other entity having appropriate facilities therefor, if such Certificateholder shall have provided the Paying Agent with wiring instructions no less than five Business Days prior to the related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions), or otherwise by check mailed to the address of such Certificateholder as it appears in the Certificate Register.  Notwithstanding the foregoing, the final distribution on this Certificate will be
made in like manner, but only upon presentation and surrender of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to the Holder hereof of such final distribution. 


                    The Certificates are limited in right of distribution to certain collections and recoveries respecting the Mortgage Loans and REO Loans, all as more specifically set forth herein and in the Agreement.  As provided in the Agreement, withdrawals from the Certificate Account, the Distribution Account and, if established, the REO Account may be made from time to time for purposes other than, and, in certain cases, prior to, distributions to Certificateholders, such purposes including the reimbursement of Advances made, or certain expenses incurred, with respect to the Mortgage Loans and the payment of interest on such Advances and expenses.


                    Interest accrued on this Certificate during an Interest Accrual Period, plus any unpaid interest shortfall with respect to this Certificate for any prior Distribution Date, if any, will be payable on the related Distribution Date to the extent provided in the Agreement.  The “Interest Accrual Period” with respect to any Distribution Date and with respect to the Class IO Certificates is the calendar month preceding the month in which such Distribution Date occurs and is assumed to consist of 30 days.


                    The Class IO Certificates are issuable in fully registered form only without coupons in minimum denominations specified in the Agreement.  As provided in the Agreement and subject to certain limitations therein set forth, Class IO Certificates are exchangeable for new Class IO Certificates in authorized denominations evidencing the same aggregate Percentage Interest, as requested by the Holder surrendering the same.


A-29-2-3









                    As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices of the Certificate Registrar, duly endorsed by, or accompanied by a written instrument of transfer in the form satisfactory to the Certificate Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Class IO Certificates in authorized denominations evidencing the same aggregate Percentage Interest will be issued to the designated transferee or transferees.


                    No transfer of any Class IO Certificate shall be made unless that transfer is made pursuant to an effective registration statement under the Securities Act, and effective registration or qualification under applicable state securities laws, or is made in a transaction which does not require such registration or qualification.  If such a transfer is to be made without registration under the Securities Act (other than in connection with the initial issuance thereof or the initial transfer thereof by the Depositor, the Underwriters or their respective affiliates), then the Certificate Registrar shall refuse to register such transfer unless it receives either: (i) a certificate from the Certificateholder desiring to effect such transfer substantially in the form attached as Exhibit F-1 to the Agreement, and a certificate from such
Certificateholder’s prospective transferee substantially in the form attached as either Exhibit F-2 or Exhibit F-3 to the Agreement; or (ii) an Opinion of Counsel reasonably satisfactory to the Certificate Registrar to the effect that such transfer may be made without registration under the Securities Act (which Opinion of Counsel shall not be an expense of the Trust Fund or of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar in their respective capacities as such), together with the written certification(s) as to the facts surrounding such transfer from the Certificateholder desiring to effect such transfer and/or such Certificateholder’s prospective transferee on which such Opinion of Counsel is based.  None of the Depositor, the Trustee, Paying Agent or the Certificate Registrar is obligated to register or qualify the Class IO Certificates under the Securities Act or any other securities law or to take any action not

otherwise required under the Agreement to permit the transfer of any Class IO Certificate without registration or qualification.  Any Class IO Certificateholder desiring to effect such a transfer shall, and by the acceptance of its Class IO Certificate agrees to, indemnify the Trustee, the Certificate Registrar, the Paying Agent and the Depositor against any liability that may result if the transfer is not so exempt or is not made in accordance with such federal and state laws.


                    No service charge will be imposed for any registration of transfer or exchange of Class IO Certificates, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of Class IO Certificates.


                    Notwithstanding the foregoing, for so long as this Certificate is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC, transfers of interests in this Certificate shall be made through the book-entry facilities of DTC.


A-29-2-4









                    The Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent and the Certificate Registrar and any agent of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes whatsoever and none of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent, the Certificate Registrar, or any such agent shall be affected by notice to the contrary.


                    The Trust Fund and the obligations created by the Agreement shall terminate upon distribution (or provision for distribution) to the Certificateholders of all amounts held by or on behalf of the Trustee and required to be distributed to them pursuant to the Agreement following the earlier to occur of (i) the final payment (or any advance with respect thereto) or other liquidation of the last Mortgage Loan or REO Property remaining in the Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder at a price determined as provided in the Agreement of all Mortgage Loans and each REO Property remaining in the Trust Fund.  The Agreement permits, but does not require, the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder to purchase from the Trust
Fund all Mortgage Loans and each REO Property remaining therein.  The exercise of such right will effect early retirement of the Class IO Certificates; however, such right to purchase is subject to the aggregate Stated Principal Balance of the Mortgage Pool at the time of purchase being less than 1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date specified on the face hereof.


                    In addition, any exchange by any Certificateholder of all of the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund may be made:  (i) if the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) are held by a single Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-1A, Class A-5FL Regular Interest, Class A-M, Class A-J, Class B, Class C, Class D and Class E Certificates have been paid in full.


                    The Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and obligations of the Depositor, the Master Servicer, the Special Servicer and the Trustee and the rights of the Certificateholders under the Agreement at any time by the Depositor, the Master Servicer, the Special Servicer and the Trustee with the consent of the Holders of Certificates entitled to at least 51% of the Voting Rights allocated to the affected Classes.  Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon this Certificate.  The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to maintain the status of the Trust Fund (or designated portions thereof) as consisting of three separate REMICs and two grantor trusts, without the consent of the Holders of any of the Certificates.


                    Unless the certificate of authentication hereon has been executed by the Certificate Registrar, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.


A-29-2-5









                    The registered Holder hereof, by its acceptance hereof, agrees that it will look solely to the Trust Fund (to the extent of its rights therein) for distributions hereunder.


                    This Certificate shall be construed in accordance with the internal laws of the State of New York applicable to agreements made and to be performed in said State, and the obligations, rights and remedies of the Holder hereof shall be determined in accordance with such laws.


A-29-2-6









                    IN WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed.


Dated:  May 23, 2007

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Certificate Registrar
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
   
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-29-2-7









CERTIFICATE OF AUTHENTICATION


                    This is one of the Class IO Certificates referred to in the within-mentioned Agreement.

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Authenticating Agent
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
   
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-29-2-8









ASSIGNMENT


                    FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto ________________________________________________________ (please print or typewrite name and address including postal zip code of assignee) the beneficial ownership interest in the Trust Fund evidenced by the within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the registration of transfer of such interest to assignee on the Certificate Register of the Trust Fund.


                    I (we) further direct the Certificate Registrar to issue a new Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and Class to the above named assignee and deliver such Commercial Mortgage Pass-Through Certificate to the following address:  __________________________________________________.


Dated:  _________________________


	
  
 
  	
  


  
	
  
 
  	
  
Signature by or on behalf of Assignor
  
	
  
 
  	
   
 
	
  
 
  	
   
 
	
  
 
  	
   
 
	
  
 
  	
  


  
	
  
 
  	
  
Signature Guaranteed
  




A-29-2-9









DISTRIBUTION INSTRUCTIONS


                    The Assignee should include the following for purposes of distribution:


                    Distributions shall, if permitted, be made by wire transfer or otherwise, in immediately available funds, to _____________________________ for the account of _______________.


                    Distributions made by check (such check to be made payable to _____________________) and all applicable statements and notices should be mailed to _________________________.


                    This information is provided by ________________________________, the Assignee named above, or ____________________________________, as its agent.


A-29-2-10









EXHIBIT A-29-3


FORM OF CLASS IO CERTIFICATE


CLASS IO COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
 SERIES 2007-C31


evidencing a beneficial ownership interest in a trust fund (the “Trust Fund”) consisting primarily of a pool of multifamily and commercial mortgage loans (the “Mortgage Loans”), such pool being formed and sold by


WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

	
  
Pass-Through   Rate:  Variable#IO
  	
  
 
  	
  
Aggregate   Certificate Notional Amount of the Class IO Certificates as of the   Closing Date: $5,845,468,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  Date of   Pooling and Servicing Agreement: as of May 1, 2007
  	
  
 
  	
  
Certificate   Notional Amount of this Class IO Certificate as of the Closing Date:   $500,000,000
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Closing   Date:  May 23, 2007
  	
  
 
  	
  
Aggregate   Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date:   $5,845,468,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  
First   Distribution Date:  June 15, 2007
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Master   Servicer:  Wachovia Bank, National   Association
  	
  
 
  	
  
Trustee:   Wells Fargo Bank, N.A.
  
	
   
  	
  
 
  	
  
 
  
	
  
Special   Servicer:  LNR Partners, Inc.
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Certificate   No. IO-3
  	
  
 
  	
  
CUSIP No.
  




THIS CERTIFICATE DOES NOT HAVE A CERTIFICATE PRINCIPAL BALANCE AND WILL NOT ENTITLE THE HOLDER HEREOF TO DISTRIBUTIONS OF PRINCIPAL, BUT IS ENTITLED TO RECEIVE DISTRIBUTIONS OF INTEREST ONLY ON A NOTIONAL AMOUNT AS SET FORTH IN THE AGREEMENT.


UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION (“DTC”), TO THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE


A-29-3-1









OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.


THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.  NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.


THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933 (THE “SECURITIES ACT”) OR THE SECURITIES LAWS OF ANY STATE.  ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION 5.02 OF THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.


SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT” (A “REMIC”) AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986 (THE “CODE”).


BECAUSE THE COMPONENTS COMPRISING THE NOTIONAL AMOUNT OF THE CLASS IO CERTIFICATES WILL BE REDUCED BY ANY DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THE CERTIFICATES RELATING TO SUCH COMPONENTS AND BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND WHICH ARE ALLOCATED TO SUCH CERTIFICATES RELATING TO SUCH COMPONENTS AS SET FORTH IN THE AGREEMENT, THE OUTSTANDING NOTIONAL AMOUNT HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE. 


                    This certifies that Cede & Co. is the registered owner of the Percentage Interest evidenced by this Class IO Certificate in that certain beneficial ownership interest evidenced by all the Class IO Certificates in the Trust Fund created pursuant to a Pooling and Servicing Agreement, dated as specified above (the “Agreement”), among Wachovia Commercial Mortgage Securities, Inc. (herein called the “Depositor”, which term includes any successor entity under the Agreement), Wachovia Bank, National Association (herein called the “Master Servicer”, which term includes any successor entity under the Agreement), LNR Partners, Inc. (herein called the “Special Servicer”, which term includes any successor entity under the Agreement) and Wells Fargo Bank, N.A. (herein called the
“Trustee”, which term includes any successor entity under the Agreement), a summary of certain of the pertinent provisions of which 


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is set forth hereafter.  To the extent not defined herein, the capitalized terms used herein have the respective meanings assigned in the Agreement.  This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound.


                    Pursuant to the terms of the Agreement, distributions will be made on the fourth Business Day following the related Determination Date (each, a “Distribution Date”).  The Determination Date is the 11th day of each month or, if such 11th day is not a Business Day, the Business Day immediately succeeding, commencing in July, 2006 (each, a “Determination Date”).  Distributions will be made commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the last Business Day of the month immediately preceding the month of such distribution (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount required to be distributed to the Holders of
the Class IO Certificates on the applicable Distribution Date pursuant to the Agreement.  The Pass-Through Rate applicable to the Class IO Certificates for each Distribution Date is as provided in the Agreement.  All distributions made under the Agreement on the Class IO Certificates will be made by Wells Fargo Bank, N.A., as paying agent (the “Paying Agent”), by wire transfer of immediately available funds to the account of the Person entitled thereto at a bank or other entity having appropriate facilities therefor, if such Certificateholder shall have provided the Paying Agent with wiring instructions no less than five Business Days prior to the related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions), or otherwise by check mailed to the address of such Certificateholder as it appears in the Certificate Register.  Notwithstanding the foregoing, the final distribution on this Certificate will be
made in like manner, but only upon presentation and surrender of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to the Holder hereof of such final distribution. 


                    The Certificates are limited in right of distribution to certain collections and recoveries respecting the Mortgage Loans and REO Loans, all as more specifically set forth herein and in the Agreement.  As provided in the Agreement, withdrawals from the Certificate Account, the Distribution Account and, if established, the REO Account may be made from time to time for purposes other than, and, in certain cases, prior to, distributions to Certificateholders, such purposes including the reimbursement of Advances made, or certain expenses incurred, with respect to the Mortgage Loans and the payment of interest on such Advances and expenses.


                    Interest accrued on this Certificate during an Interest Accrual Period, plus any unpaid interest shortfall with respect to this Certificate for any prior Distribution Date, if any, will be payable on the related Distribution Date to the extent provided in the Agreement.  The “Interest Accrual Period” with respect to any Distribution Date and with respect to the Class IO Certificates is the calendar month preceding the month in which such Distribution Date occurs and is assumed to consist of 30 days.


                    The Class IO Certificates are issuable in fully registered form only without coupons in minimum denominations specified in the Agreement.  As provided in the Agreement and subject to certain limitations therein set forth, Class IO Certificates are exchangeable for new Class IO Certificates in authorized denominations evidencing the same aggregate Percentage Interest, as requested by the Holder surrendering the same.


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                    As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices of the Certificate Registrar, duly endorsed by, or accompanied by a written instrument of transfer in the form satisfactory to the Certificate Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Class IO Certificates in authorized denominations evidencing the same aggregate Percentage Interest will be issued to the designated transferee or transferees.


                    No transfer of any Class IO Certificate shall be made unless that transfer is made pursuant to an effective registration statement under the Securities Act, and effective registration or qualification under applicable state securities laws, or is made in a transaction which does not require such registration or qualification.  If such a transfer is to be made without registration under the Securities Act (other than in connection with the initial issuance thereof or the initial transfer thereof by the Depositor, the Underwriters or their respective affiliates), then the Certificate Registrar shall refuse to register such transfer unless it receives either: (i) a certificate from the Certificateholder desiring to effect such transfer substantially in the form attached as Exhibit F-1 to the Agreement, and a certificate from such
Certificateholder’s prospective transferee substantially in the form attached as either Exhibit F-2 or Exhibit F-3 to the Agreement; or (ii) an Opinion of Counsel reasonably satisfactory to the Certificate Registrar to the effect that such transfer may be made without registration under the Securities Act (which Opinion of Counsel shall not be an expense of the Trust Fund or of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar in their respective capacities as such), together with the written certification(s) as to the facts surrounding such transfer from the Certificateholder desiring to effect such transfer and/or such Certificateholder’s prospective transferee on which such Opinion of Counsel is based.  None of the Depositor, the Trustee, Paying Agent or the Certificate Registrar is obligated to register or qualify the Class IO Certificates under the Securities Act or any other securities law or to take any action not

otherwise required under the Agreement to permit the transfer of any Class IO Certificate without registration or qualification.  Any Class IO Certificateholder desiring to effect such a transfer shall, and by the acceptance of its Class IO Certificate agrees to, indemnify the Trustee, the Certificate Registrar, the Paying Agent and the Depositor against any liability that may result if the transfer is not so exempt or is not made in accordance with such federal and state laws.


                    No service charge will be imposed for any registration of transfer or exchange of Class IO Certificates, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of Class IO Certificates.


                    Notwithstanding the foregoing, for so long as this Certificate is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC, transfers of interests in this Certificate shall be made through the book-entry facilities of DTC.


A-29-3-4









                    The Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent and the Certificate Registrar and any agent of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes whatsoever and none of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent, the Certificate Registrar, or any such agent shall be affected by notice to the contrary.


                    The Trust Fund and the obligations created by the Agreement shall terminate upon distribution (or provision for distribution) to the Certificateholders of all amounts held by or on behalf of the Trustee and required to be distributed to them pursuant to the Agreement following the earlier to occur of (i) the final payment (or any advance with respect thereto) or other liquidation of the last Mortgage Loan or REO Property remaining in the Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder at a price determined as provided in the Agreement of all Mortgage Loans and each REO Property remaining in the Trust Fund.  The Agreement permits, but does not require, the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder to purchase from the Trust
Fund all Mortgage Loans and each REO Property remaining therein.  The exercise of such right will effect early retirement of the Class IO Certificates; however, such right to purchase is subject to the aggregate Stated Principal Balance of the Mortgage Pool at the time of purchase being less than 1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date specified on the face hereof.


                    In addition, any exchange by any Certificateholder of all of the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund may be made:  (i) if the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) are held by a single Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-1A, Class A-5FL Regular Interest, Class A-M, Class A-J, Class B, Class C, Class D and Class E Certificates have been paid in full.


                    The Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and obligations of the Depositor, the Master Servicer, the Special Servicer and the Trustee and the rights of the Certificateholders under the Agreement at any time by the Depositor, the Master Servicer, the Special Servicer and the Trustee with the consent of the Holders of Certificates entitled to at least 51% of the Voting Rights allocated to the affected Classes.  Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon this Certificate.  The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to maintain the status of the Trust Fund (or designated portions thereof) as consisting of three separate REMICs and two grantor trusts, without the consent of the Holders of any of the Certificates.


                    Unless the certificate of authentication hereon has been executed by the Certificate Registrar, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.


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                    The registered Holder hereof, by its acceptance hereof, agrees that it will look solely to the Trust Fund (to the extent of its rights therein) for distributions hereunder.


                    This Certificate shall be construed in accordance with the internal laws of the State of New York applicable to agreements made and to be performed in said State, and the obligations, rights and remedies of the Holder hereof shall be determined in accordance with such laws.


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                    IN WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed.


Dated:  May 23, 2007

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Certificate Registrar
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
   
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-29-3-7









CERTIFICATE OF AUTHENTICATION


                    This is one of the Class IO Certificates referred to in the within-mentioned Agreement.

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Authenticating Agent
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
   
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-29-3-8









ASSIGNMENT


                    FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto ________________________________________________________ (please print or typewrite name and address including postal zip code of assignee) the beneficial ownership interest in the Trust Fund evidenced by the within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the registration of transfer of such interest to assignee on the Certificate Register of the Trust Fund.


                    I (we) further direct the Certificate Registrar to issue a new Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and Class to the above named assignee and deliver such Commercial Mortgage Pass-Through Certificate to the following address:  __________________________________________________.


Dated:  _________________________


	
  
 
  	
  


  
	
  
 
  	
  
Signature by or on behalf of Assignor
  
	
  
 
  	
   
 
	
  
 
  	
   
 
	
  
 
  	
   
 
	
  
 
  	
  


  
	
  
 
  	
  
Signature Guaranteed
  




A-29-3-9









DISTRIBUTION INSTRUCTIONS


                    The Assignee should include the following for purposes of distribution:


                    Distributions shall, if permitted, be made by wire transfer or otherwise, in immediately available funds, to _____________________________ for the account of _______________.


                    Distributions made by check (such check to be made payable to _____________________) and all applicable statements and notices should be mailed to _________________________.


                    This information is provided by ________________________________, the Assignee named above, or ____________________________________, as its agent.


A-29-3-10









EXHIBIT A-29-4


FORM OF CLASS IO CERTIFICATE


CLASS IO COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
 SERIES 2007-C31


evidencing a beneficial ownership interest in a trust fund (the “Trust Fund”) consisting primarily of a pool of multifamily and commercial mortgage loans (the “Mortgage Loans”), such pool being formed and sold by


WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

	
  
Pass-Through   Rate:  Variable#IO
  	
  
 
  	
  
Aggregate   Certificate Notional Amount of the Class IO Certificates as of the   Closing Date: $5,845,468,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  Date of Pooling   and Servicing Agreement: as of May 1, 2007
  	
  
 
  	
  
Certificate   Notional Amount of this Class IO Certificate as of the Closing Date:   $500,000,000
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Closing   Date:  May 23, 2007
  	
  
 
  	
  
Aggregate   Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date:   $5,845,468,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  
First   Distribution Date:  June 15, 2007
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Master   Servicer:  Wachovia Bank, National   Association
  	
  
 
  	
  
Trustee:   Wells Fargo Bank, N.A.
  
	
   
  	
  
 
  	
  
 
  
	
  
Special   Servicer:  LNR Partners, Inc.
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Certificate   No. IO-4
  	
  
 
  	
  
CUSIP No.
  




THIS CERTIFICATE DOES NOT HAVE A CERTIFICATE PRINCIPAL BALANCE AND WILL NOT ENTITLE THE HOLDER HEREOF TO DISTRIBUTIONS OF PRINCIPAL, BUT IS ENTITLED TO RECEIVE DISTRIBUTIONS OF INTEREST ONLY ON A NOTIONAL AMOUNT AS SET FORTH IN THE AGREEMENT.


UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION (“DTC”), TO THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE 


A-29-4-1









OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.


THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.  NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.


THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933 (THE “SECURITIES ACT”) OR THE SECURITIES LAWS OF ANY STATE.  ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION 5.02 OF THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.


SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT” (A “REMIC”) AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986 (THE “CODE”).


BECAUSE THE COMPONENTS COMPRISING THE NOTIONAL AMOUNT OF THE CLASS IO CERTIFICATES WILL BE REDUCED BY ANY DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THE CERTIFICATES RELATING TO SUCH COMPONENTS AND BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND WHICH ARE ALLOCATED TO SUCH CERTIFICATES RELATING TO SUCH COMPONENTS AS SET FORTH IN THE AGREEMENT, THE OUTSTANDING NOTIONAL AMOUNT HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE. 


                    This certifies that Cede & Co. is the registered owner of the Percentage Interest evidenced by this Class IO Certificate in that certain beneficial ownership interest evidenced by all the Class IO Certificates in the Trust Fund created pursuant to a Pooling and Servicing Agreement, dated as specified above (the “Agreement”), among Wachovia Commercial Mortgage Securities, Inc. (herein called the “Depositor”, which term includes any successor entity under the Agreement), Wachovia Bank, National Association (herein called the “Master Servicer”, which term includes any successor entity under the Agreement), LNR Partners, Inc. (herein called the “Special Servicer”, which term includes any successor entity under the Agreement) and Wells Fargo Bank, N.A. (herein called the
“Trustee”, which term includes any successor entity under the Agreement), a summary of certain of the pertinent provisions of which 


A-29-4-2









is set forth hereafter.  To the extent not defined herein, the capitalized terms used herein have the respective meanings assigned in the Agreement.  This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound.


                    Pursuant to the terms of the Agreement, distributions will be made on the fourth Business Day following the related Determination Date (each, a “Distribution Date”).  The Determination Date is the 11th day of each month or, if such 11th day is not a Business Day, the Business Day immediately succeeding, commencing in July, 2006 (each, a “Determination Date”).  Distributions will be made commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the last Business Day of the month immediately preceding the month of such distribution (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount required to be distributed to the Holders of
the Class IO Certificates on the applicable Distribution Date pursuant to the Agreement.  The Pass-Through Rate applicable to the Class IO Certificates for each Distribution Date is as provided in the Agreement.  All distributions made under the Agreement on the Class IO Certificates will be made by Wells Fargo Bank, N.A., as paying agent (the “Paying Agent”), by wire transfer of immediately available funds to the account of the Person entitled thereto at a bank or other entity having appropriate facilities therefor, if such Certificateholder shall have provided the Paying Agent with wiring instructions no less than five Business Days prior to the related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions), or otherwise by check mailed to the address of such Certificateholder as it appears in the Certificate Register.  Notwithstanding the foregoing, the final distribution on this Certificate will be
made in like manner, but only upon presentation and surrender of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to the Holder hereof of such final distribution. 


                    The Certificates are limited in right of distribution to certain collections and recoveries respecting the Mortgage Loans and REO Loans, all as more specifically set forth herein and in the Agreement.  As provided in the Agreement, withdrawals from the Certificate Account, the Distribution Account and, if established, the REO Account may be made from time to time for purposes other than, and, in certain cases, prior to, distributions to Certificateholders, such purposes including the reimbursement of Advances made, or certain expenses incurred, with respect to the Mortgage Loans and the payment of interest on such Advances and expenses.


                    Interest accrued on this Certificate during an Interest Accrual Period, plus any unpaid interest shortfall with respect to this Certificate for any prior Distribution Date, if any, will be payable on the related Distribution Date to the extent provided in the Agreement.  The “Interest Accrual Period” with respect to any Distribution Date and with respect to the Class IO Certificates is the calendar month preceding the month in which such Distribution Date occurs and is assumed to consist of 30 days.


                    The Class IO Certificates are issuable in fully registered form only without coupons in minimum denominations specified in the Agreement.  As provided in the Agreement and subject to certain limitations therein set forth, Class IO Certificates are exchangeable for new Class IO Certificates in authorized denominations evidencing the same aggregate Percentage Interest, as requested by the Holder surrendering the same.


A-29-4-3









                    As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices of the Certificate Registrar, duly endorsed by, or accompanied by a written instrument of transfer in the form satisfactory to the Certificate Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Class IO Certificates in authorized denominations evidencing the same aggregate Percentage Interest will be issued to the designated transferee or transferees.


                    No transfer of any Class IO Certificate shall be made unless that transfer is made pursuant to an effective registration statement under the Securities Act, and effective registration or qualification under applicable state securities laws, or is made in a transaction which does not require such registration or qualification.  If such a transfer is to be made without registration under the Securities Act (other than in connection with the initial issuance thereof or the initial transfer thereof by the Depositor, the Underwriters or their respective affiliates), then the Certificate Registrar shall refuse to register such transfer unless it receives either: (i) a certificate from the Certificateholder desiring to effect such transfer substantially in the form attached as Exhibit F-1 to the Agreement, and a certificate from such
Certificateholder’s prospective transferee substantially in the form attached as either Exhibit F-2 or Exhibit F-3 to the Agreement; or (ii) an Opinion of Counsel reasonably satisfactory to the Certificate Registrar to the effect that such transfer may be made without registration under the Securities Act (which Opinion of Counsel shall not be an expense of the Trust Fund or of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar in their respective capacities as such), together with the written certification(s) as to the facts surrounding such transfer from the Certificateholder desiring to effect such transfer and/or such Certificateholder’s prospective transferee on which such Opinion of Counsel is based.  None of the Depositor, the Trustee, Paying Agent or the Certificate Registrar is obligated to register or qualify the Class IO Certificates under the Securities Act or any other securities law or to take any action not

otherwise required under the Agreement to permit the transfer of any Class IO Certificate without registration or qualification.  Any Class IO Certificateholder desiring to effect such a transfer shall, and by the acceptance of its Class IO Certificate agrees to, indemnify the Trustee, the Certificate Registrar, the Paying Agent and the Depositor against any liability that may result if the transfer is not so exempt or is not made in accordance with such federal and state laws.


                    No service charge will be imposed for any registration of transfer or exchange of Class IO Certificates, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of Class IO Certificates.


                    Notwithstanding the foregoing, for so long as this Certificate is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC, transfers of interests in this Certificate shall be made through the book-entry facilities of DTC.


A-29-4-4









                    The Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent and the Certificate Registrar and any agent of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes whatsoever and none of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent, the Certificate Registrar, or any such agent shall be affected by notice to the contrary.


                    The Trust Fund and the obligations created by the Agreement shall terminate upon distribution (or provision for distribution) to the Certificateholders of all amounts held by or on behalf of the Trustee and required to be distributed to them pursuant to the Agreement following the earlier to occur of (i) the final payment (or any advance with respect thereto) or other liquidation of the last Mortgage Loan or REO Property remaining in the Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder at a price determined as provided in the Agreement of all Mortgage Loans and each REO Property remaining in the Trust Fund.  The Agreement permits, but does not require, the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder to purchase from the Trust
Fund all Mortgage Loans and each REO Property remaining therein.  The exercise of such right will effect early retirement of the Class IO Certificates; however, such right to purchase is subject to the aggregate Stated Principal Balance of the Mortgage Pool at the time of purchase being less than 1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date specified on the face hereof.


                    In addition, any exchange by any Certificateholder of all of the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund may be made:  (i) if the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) are held by a single Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-1A, Class A-5FL Regular Interest, Class A-M, Class A-J, Class B, Class C, Class D and Class E Certificates have been paid in full.


                    The Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and obligations of the Depositor, the Master Servicer, the Special Servicer and the Trustee and the rights of the Certificateholders under the Agreement at any time by the Depositor, the Master Servicer, the Special Servicer and the Trustee with the consent of the Holders of Certificates entitled to at least 51% of the Voting Rights allocated to the affected Classes.  Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon this Certificate.  The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to maintain the status of the Trust Fund (or designated portions thereof) as consisting of three separate REMICs and two grantor trusts, without the consent of the Holders of any of the Certificates.


                    Unless the certificate of authentication hereon has been executed by the Certificate Registrar, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.


A-29-4-5









                    The registered Holder hereof, by its acceptance hereof, agrees that it will look solely to the Trust Fund (to the extent of its rights therein) for distributions hereunder.


                    This Certificate shall be construed in accordance with the internal laws of the State of New York applicable to agreements made and to be performed in said State, and the obligations, rights and remedies of the Holder hereof shall be determined in accordance with such laws.


A-29-4-6









                    IN WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed.


Dated:  May 23, 2007

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Certificate Registrar
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
   
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-29-4-7









CERTIFICATE OF AUTHENTICATION


                    This is one of the Class IO Certificates referred to in the within-mentioned Agreement.

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Authenticating Agent
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
   
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-29-4-8









ASSIGNMENT


                    FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto ________________________________________________________ (please print or typewrite name and address including postal zip code of assignee) the beneficial ownership interest in the Trust Fund evidenced by the within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the registration of transfer of such interest to assignee on the Certificate Register of the Trust Fund.


                    I (we) further direct the Certificate Registrar to issue a new Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and Class to the above named assignee and deliver such Commercial Mortgage Pass-Through Certificate to the following address:  __________________________________________________.


Dated:  _________________________


	
  
 
  	
  


  
	
  
 
  	
  
Signature by or on behalf of Assignor
  
	
  
 
  	
   
 
	
  
 
  	
   
 
	
  
 
  	
   
 
	
  
 
  	
  


  
	
  
 
  	
  
Signature Guaranteed
  




A-29-4-9









DISTRIBUTION INSTRUCTIONS


                    The Assignee should include the following for purposes of distribution:


                    Distributions shall, if permitted, be made by wire transfer or otherwise, in immediately available funds, to _____________________________ for the account of _______________.


                    Distributions made by check (such check to be made payable to _____________________) and all applicable statements and notices should be mailed to _________________________.


                    This information is provided by ________________________________, the Assignee named above, or ____________________________________, as its agent.


A-29-4-10









EXHIBIT A-29-5


FORM OF CLASS IO CERTIFICATE


CLASS IO COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
 SERIES 2007-C31


evidencing a beneficial ownership interest in a trust fund (the “Trust Fund”) consisting primarily of a pool of multifamily and commercial mortgage loans (the “Mortgage Loans”), such pool being formed and sold by


WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

	
  
Pass-Through   Rate:  Variable#IO
  	
  
 
  	
  
Aggregate   Certificate Notional Amount of the Class IO Certificates as of the   Closing Date: $5,845,468,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  Date of   Pooling and Servicing Agreement: as of May 1, 2007
  	
  
 
  	
  
Certificate   Notional Amount of this Class IO Certificate as of the Closing Date:   $500,000,000
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Closing   Date:  May 23, 2007
  	
  
 
  	
  
Aggregate   Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date:   $5,845,468,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  
First   Distribution Date:  June 15, 2007
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Master   Servicer:  Wachovia Bank, National   Association
  	
  
 
  	
  
Trustee:   Wells Fargo Bank, N.A.
  
	
   
  	
  
 
  	
  
 
  
	
  
Special   Servicer:  LNR Partners, Inc.
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Certificate   No. IO-5
  	
  
 
  	
  
CUSIP No.
  




THIS CERTIFICATE DOES NOT HAVE A CERTIFICATE PRINCIPAL BALANCE AND WILL NOT ENTITLE THE HOLDER HEREOF TO DISTRIBUTIONS OF PRINCIPAL, BUT IS ENTITLED TO RECEIVE DISTRIBUTIONS OF INTEREST ONLY ON A NOTIONAL AMOUNT AS SET FORTH IN THE AGREEMENT.


UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION (“DTC”), TO THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE 


A-29-5-1









OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.


THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.  NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.


THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933 (THE “SECURITIES ACT”) OR THE SECURITIES LAWS OF ANY STATE.  ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION 5.02 OF THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.


SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT” (A “REMIC”) AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986 (THE “CODE”).


BECAUSE THE COMPONENTS COMPRISING THE NOTIONAL AMOUNT OF THE CLASS IO CERTIFICATES WILL BE REDUCED BY ANY DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THE CERTIFICATES RELATING TO SUCH COMPONENTS AND BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND WHICH ARE ALLOCATED TO SUCH CERTIFICATES RELATING TO SUCH COMPONENTS AS SET FORTH IN THE AGREEMENT, THE OUTSTANDING NOTIONAL AMOUNT HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE. 


                    This certifies that Cede & Co. is the registered owner of the Percentage Interest evidenced by this Class IO Certificate in that certain beneficial ownership interest evidenced by all the Class IO Certificates in the Trust Fund created pursuant to a Pooling and Servicing Agreement, dated as specified above (the “Agreement”), among Wachovia Commercial Mortgage Securities, Inc. (herein called the “Depositor”, which term includes any successor entity under the Agreement), Wachovia Bank, National Association (herein called the “Master Servicer”, which term includes any successor entity under the Agreement), LNR Partners, Inc. (herein called the “Special Servicer”, which term includes any successor entity under the Agreement) and Wells Fargo Bank, N.A. (herein called the
“Trustee”, which term includes any successor entity under the Agreement), a summary of certain of the pertinent provisions of which 


A-29-5-2









is set forth hereafter.  To the extent not defined herein, the capitalized terms used herein have the respective meanings assigned in the Agreement.  This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound.


                    Pursuant to the terms of the Agreement, distributions will be made on the fourth Business Day following the related Determination Date (each, a “Distribution Date”).  The Determination Date is the 11th day of each month or, if such 11th day is not a Business Day, the Business Day immediately succeeding, commencing in July, 2006 (each, a “Determination Date”).  Distributions will be made commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the last Business Day of the month immediately preceding the month of such distribution (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount required to be distributed to the Holders of
the Class IO Certificates on the applicable Distribution Date pursuant to the Agreement.  The Pass-Through Rate applicable to the Class IO Certificates for each Distribution Date is as provided in the Agreement.  All distributions made under the Agreement on the Class IO Certificates will be made by Wells Fargo Bank, N.A., as paying agent (the “Paying Agent”), by wire transfer of immediately available funds to the account of the Person entitled thereto at a bank or other entity having appropriate facilities therefor, if such Certificateholder shall have provided the Paying Agent with wiring instructions no less than five Business Days prior to the related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions), or otherwise by check mailed to the address of such Certificateholder as it appears in the Certificate Register.  Notwithstanding the foregoing, the final distribution on this Certificate will be
made in like manner, but only upon presentation and surrender of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to the Holder hereof of such final distribution. 


                    The Certificates are limited in right of distribution to certain collections and recoveries respecting the Mortgage Loans and REO Loans, all as more specifically set forth herein and in the Agreement.  As provided in the Agreement, withdrawals from the Certificate Account, the Distribution Account and, if established, the REO Account may be made from time to time for purposes other than, and, in certain cases, prior to, distributions to Certificateholders, such purposes including the reimbursement of Advances made, or certain expenses incurred, with respect to the Mortgage Loans and the payment of interest on such Advances and expenses.


                    Interest accrued on this Certificate during an Interest Accrual Period, plus any unpaid interest shortfall with respect to this Certificate for any prior Distribution Date, if any, will be payable on the related Distribution Date to the extent provided in the Agreement.  The “Interest Accrual Period” with respect to any Distribution Date and with respect to the Class IO Certificates is the calendar month preceding the month in which such Distribution Date occurs and is assumed to consist of 30 days.


                    The Class IO Certificates are issuable in fully registered form only without coupons in minimum denominations specified in the Agreement.  As provided in the Agreement and subject to certain limitations therein set forth, Class IO Certificates are exchangeable for new Class IO Certificates in authorized denominations evidencing the same aggregate Percentage Interest, as requested by the Holder surrendering the same.


A-29-5-3









                    As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices of the Certificate Registrar, duly endorsed by, or accompanied by a written instrument of transfer in the form satisfactory to the Certificate Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Class IO Certificates in authorized denominations evidencing the same aggregate Percentage Interest will be issued to the designated transferee or transferees.


                    No transfer of any Class IO Certificate shall be made unless that transfer is made pursuant to an effective registration statement under the Securities Act, and effective registration or qualification under applicable state securities laws, or is made in a transaction which does not require such registration or qualification.  If such a transfer is to be made without registration under the Securities Act (other than in connection with the initial issuance thereof or the initial transfer thereof by the Depositor, the Underwriters or their respective affiliates), then the Certificate Registrar shall refuse to register such transfer unless it receives either: (i) a certificate from the Certificateholder desiring to effect such transfer substantially in the form attached as Exhibit F-1 to the Agreement, and a certificate from such
Certificateholder’s prospective transferee substantially in the form attached as either Exhibit F-2 or Exhibit F-3 to the Agreement; or (ii) an Opinion of Counsel reasonably satisfactory to the Certificate Registrar to the effect that such transfer may be made without registration under the Securities Act (which Opinion of Counsel shall not be an expense of the Trust Fund or of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar in their respective capacities as such), together with the written certification(s) as to the facts surrounding such transfer from the Certificateholder desiring to effect such transfer and/or such Certificateholder’s prospective transferee on which such Opinion of Counsel is based.  None of the Depositor, the Trustee, Paying Agent or the Certificate Registrar is obligated to register or qualify the Class IO Certificates under the Securities Act or any other securities law or to take any action not

otherwise required under the Agreement to permit the transfer of any Class IO Certificate without registration or qualification.  Any Class IO Certificateholder desiring to effect such a transfer shall, and by the acceptance of its Class IO Certificate agrees to, indemnify the Trustee, the Certificate Registrar, the Paying Agent and the Depositor against any liability that may result if the transfer is not so exempt or is not made in accordance with such federal and state laws.


                    No service charge will be imposed for any registration of transfer or exchange of Class IO Certificates, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of Class IO Certificates.


                    Notwithstanding the foregoing, for so long as this Certificate is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC, transfers of interests in this Certificate shall be made through the book-entry facilities of DTC.


A-29-5-4









                    The Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent and the Certificate Registrar and any agent of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes whatsoever and none of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent, the Certificate Registrar, or any such agent shall be affected by notice to the contrary.


                    The Trust Fund and the obligations created by the Agreement shall terminate upon distribution (or provision for distribution) to the Certificateholders of all amounts held by or on behalf of the Trustee and required to be distributed to them pursuant to the Agreement following the earlier to occur of (i) the final payment (or any advance with respect thereto) or other liquidation of the last Mortgage Loan or REO Property remaining in the Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder at a price determined as provided in the Agreement of all Mortgage Loans and each REO Property remaining in the Trust Fund.  The Agreement permits, but does not require, the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder to purchase from the Trust
Fund all Mortgage Loans and each REO Property remaining therein.  The exercise of such right will effect early retirement of the Class IO Certificates; however, such right to purchase is subject to the aggregate Stated Principal Balance of the Mortgage Pool at the time of purchase being less than 1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date specified on the face hereof.


                    In addition, any exchange by any Certificateholder of all of the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund may be made:  (i) if the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) are held by a single Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-1A, Class A-5FL Regular Interest, Class A-M, Class A-J, Class B, Class C, Class D and Class E Certificates have been paid in full.


                    The Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and obligations of the Depositor, the Master Servicer, the Special Servicer and the Trustee and the rights of the Certificateholders under the Agreement at any time by the Depositor, the Master Servicer, the Special Servicer and the Trustee with the consent of the Holders of Certificates entitled to at least 51% of the Voting Rights allocated to the affected Classes.  Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon this Certificate.  The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to maintain the status of the Trust Fund (or designated portions thereof) as consisting of three separate REMICs and two grantor trusts, without the consent of the Holders of any of the Certificates.


                    Unless the certificate of authentication hereon has been executed by the Certificate Registrar, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.


A-29-5-5









                    The registered Holder hereof, by its acceptance hereof, agrees that it will look solely to the Trust Fund (to the extent of its rights therein) for distributions hereunder.


                    This Certificate shall be construed in accordance with the internal laws of the State of New York applicable to agreements made and to be performed in said State, and the obligations, rights and remedies of the Holder hereof shall be determined in accordance with such laws.


A-29-5-6









                    IN WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed.


Dated:  May 23, 2007

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Certificate Registrar
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
   
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-29-5-7









CERTIFICATE OF AUTHENTICATION


                    This is one of the Class IO Certificates referred to in the within-mentioned Agreement.

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Authenticating Agent
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
   
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-29-5-8









ASSIGNMENT


                    FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto ________________________________________________________ (please print or typewrite name and address including postal zip code of assignee) the beneficial ownership interest in the Trust Fund evidenced by the within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the registration of transfer of such interest to assignee on the Certificate Register of the Trust Fund.


                    I (we) further direct the Certificate Registrar to issue a new Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and Class to the above named assignee and deliver such Commercial Mortgage Pass-Through Certificate to the following address:  __________________________________________________.


Dated:  _________________________


	
  
 
  	
  


  
	
  
 
  	
  
Signature by or on behalf of Assignor
  
	
  
 
  	
   
 
	
  
 
  	
   
 
	
  
 
  	
   
 
	
  
 
  	
  


  
	
  
 
  	
  
Signature Guaranteed
  




A-29-5-9









DISTRIBUTION INSTRUCTIONS


                    The Assignee should include the following for purposes of distribution:


                    Distributions shall, if permitted, be made by wire transfer or otherwise, in immediately available funds, to _____________________________ for the account of _______________.


                    Distributions made by check (such check to be made payable to _____________________) and all applicable statements and notices should be mailed to _________________________.


                    This information is provided by ________________________________, the Assignee named above, or ____________________________________, as its agent.


A-29-5-10









EXHIBIT A-29-6


FORM OF CLASS IO CERTIFICATE


CLASS IO COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
 SERIES 2007-C31


evidencing a beneficial ownership interest in a trust fund (the “Trust Fund”) consisting primarily of a pool of multifamily and commercial mortgage loans (the “Mortgage Loans”), such pool being formed and sold by


WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

	
  
Pass-Through   Rate:  Variable#IO
  	
  
 
  	
  
Aggregate   Certificate Notional Amount of the Class IO Certificates as of the   Closing Date: $5,845,468,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  Date of   Pooling and Servicing Agreement: as of May 1, 2007
  	
  
 
  	
  
Certificate   Notional Amount of this Class IO Certificate as of the Closing Date:   $500,000,000
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Closing   Date:  May 23, 2007
  	
  
 
  	
  
Aggregate   Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date:   $5,845,468,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  
First   Distribution Date:  June 15, 2007
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Master   Servicer:  Wachovia Bank, National   Association
  	
  
 
  	
  
Trustee:   Wells Fargo Bank, N.A.
  
	
   
  	
  
 
  	
  
 
  
	
  
Special   Servicer:  LNR Partners, Inc.
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Certificate   No. IO-6
  	
  
 
  	
  
CUSIP No.
  




THIS CERTIFICATE DOES NOT HAVE A CERTIFICATE PRINCIPAL BALANCE AND WILL NOT ENTITLE THE HOLDER HEREOF TO DISTRIBUTIONS OF PRINCIPAL, BUT IS ENTITLED TO RECEIVE DISTRIBUTIONS OF INTEREST ONLY ON A NOTIONAL AMOUNT AS SET FORTH IN THE AGREEMENT.


UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION (“DTC”), TO THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE


A-29-6-1









OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.


THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.  NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.


THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933 (THE “SECURITIES ACT”) OR THE SECURITIES LAWS OF ANY STATE.  ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION 5.02 OF THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.


SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT” (A “REMIC”) AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986 (THE “CODE”).


BECAUSE THE COMPONENTS COMPRISING THE NOTIONAL AMOUNT OF THE CLASS IO CERTIFICATES WILL BE REDUCED BY ANY DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THE CERTIFICATES RELATING TO SUCH COMPONENTS AND BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND WHICH ARE ALLOCATED TO SUCH CERTIFICATES RELATING TO SUCH COMPONENTS AS SET FORTH IN THE AGREEMENT, THE OUTSTANDING NOTIONAL AMOUNT HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE. 


                    This certifies that Cede & Co. is the registered owner of the Percentage Interest evidenced by this Class IO Certificate in that certain beneficial ownership interest evidenced by all the Class IO Certificates in the Trust Fund created pursuant to a Pooling and Servicing Agreement, dated as specified above (the “Agreement”), among Wachovia Commercial Mortgage Securities, Inc. (herein called the “Depositor”, which term includes any successor entity under the Agreement), Wachovia Bank, National Association (herein called the “Master Servicer”, which term includes any successor entity under the Agreement), LNR Partners, Inc. (herein called the “Special Servicer”, which term includes any successor entity under the Agreement) and Wells Fargo Bank, N.A. (herein called the
“Trustee”, which term includes any successor entity under the Agreement), a summary of certain of the pertinent provisions of which 


A-29-6-2









is set forth hereafter.  To the extent not defined herein, the capitalized terms used herein have the respective meanings assigned in the Agreement.  This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound.


                    Pursuant to the terms of the Agreement, distributions will be made on the fourth Business Day following the related Determination Date (each, a “Distribution Date”).  The Determination Date is the 11th day of each month or, if such 11th day is not a Business Day, the Business Day immediately succeeding, commencing in July, 2006 (each, a “Determination Date”).  Distributions will be made commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the last Business Day of the month immediately preceding the month of such distribution (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount required to be distributed to the Holders of
the Class IO Certificates on the applicable Distribution Date pursuant to the Agreement.  The Pass-Through Rate applicable to the Class IO Certificates for each Distribution Date is as provided in the Agreement.  All distributions made under the Agreement on the Class IO Certificates will be made by Wells Fargo Bank, N.A., as paying agent (the “Paying Agent”), by wire transfer of immediately available funds to the account of the Person entitled thereto at a bank or other entity having appropriate facilities therefor, if such Certificateholder shall have provided the Paying Agent with wiring instructions no less than five Business Days prior to the related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions), or otherwise by check mailed to the address of such Certificateholder as it appears in the Certificate Register.  Notwithstanding the foregoing, the final distribution on this Certificate will be
made in like manner, but only upon presentation and surrender of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to the Holder hereof of such final distribution. 


                    The Certificates are limited in right of distribution to certain collections and recoveries respecting the Mortgage Loans and REO Loans, all as more specifically set forth herein and in the Agreement.  As provided in the Agreement, withdrawals from the Certificate Account, the Distribution Account and, if established, the REO Account may be made from time to time for purposes other than, and, in certain cases, prior to, distributions to Certificateholders, such purposes including the reimbursement of Advances made, or certain expenses incurred, with respect to the Mortgage Loans and the payment of interest on such Advances and expenses.


                    Interest accrued on this Certificate during an Interest Accrual Period, plus any unpaid interest shortfall with respect to this Certificate for any prior Distribution Date, if any, will be payable on the related Distribution Date to the extent provided in the Agreement.  The “Interest Accrual Period” with respect to any Distribution Date and with respect to the Class IO Certificates is the calendar month preceding the month in which such Distribution Date occurs and is assumed to consist of 30 days.


                    The Class IO Certificates are issuable in fully registered form only without coupons in minimum denominations specified in the Agreement.  As provided in the Agreement and subject to certain limitations therein set forth, Class IO Certificates are exchangeable for new Class IO Certificates in authorized denominations evidencing the same aggregate Percentage Interest, as requested by the Holder surrendering the same.


A-29-6-3









                    As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices of the Certificate Registrar, duly endorsed by, or accompanied by a written instrument of transfer in the form satisfactory to the Certificate Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Class IO Certificates in authorized denominations evidencing the same aggregate Percentage Interest will be issued to the designated transferee or transferees.


                    No transfer of any Class IO Certificate shall be made unless that transfer is made pursuant to an effective registration statement under the Securities Act, and effective registration or qualification under applicable state securities laws, or is made in a transaction which does not require such registration or qualification.  If such a transfer is to be made without registration under the Securities Act (other than in connection with the initial issuance thereof or the initial transfer thereof by the Depositor, the Underwriters or their respective affiliates), then the Certificate Registrar shall refuse to register such transfer unless it receives either: (i) a certificate from the Certificateholder desiring to effect such transfer substantially in the form attached as Exhibit F-1 to the Agreement, and a certificate from such
Certificateholder’s prospective transferee substantially in the form attached as either Exhibit F-2 or Exhibit F-3 to the Agreement; or (ii) an Opinion of Counsel reasonably satisfactory to the Certificate Registrar to the effect that such transfer may be made without registration under the Securities Act (which Opinion of Counsel shall not be an expense of the Trust Fund or of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar in their respective capacities as such), together with the written certification(s) as to the facts surrounding such transfer from the Certificateholder desiring to effect such transfer and/or such Certificateholder’s prospective transferee on which such Opinion of Counsel is based.  None of the Depositor, the Trustee, Paying Agent or the Certificate Registrar is obligated to register or qualify the Class IO Certificates under the Securities Act or any other securities law or to take any action not

otherwise required under the Agreement to permit the transfer of any Class IO Certificate without registration or qualification.  Any Class IO Certificateholder desiring to effect such a transfer shall, and by the acceptance of its Class IO Certificate agrees to, indemnify the Trustee, the Certificate Registrar, the Paying Agent and the Depositor against any liability that may result if the transfer is not so exempt or is not made in accordance with such federal and state laws.


                    No service charge will be imposed for any registration of transfer or exchange of Class IO Certificates, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of Class IO Certificates.


                    Notwithstanding the foregoing, for so long as this Certificate is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC, transfers of interests in this Certificate shall be made through the book-entry facilities of DTC.


A-29-6-4









                    The Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent and the Certificate Registrar and any agent of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes whatsoever and none of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent, the Certificate Registrar, or any such agent shall be affected by notice to the contrary.


                    The Trust Fund and the obligations created by the Agreement shall terminate upon distribution (or provision for distribution) to the Certificateholders of all amounts held by or on behalf of the Trustee and required to be distributed to them pursuant to the Agreement following the earlier to occur of (i) the final payment (or any advance with respect thereto) or other liquidation of the last Mortgage Loan or REO Property remaining in the Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder at a price determined as provided in the Agreement of all Mortgage Loans and each REO Property remaining in the Trust Fund.  The Agreement permits, but does not require, the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder to purchase from the Trust
Fund all Mortgage Loans and each REO Property remaining therein.  The exercise of such right will effect early retirement of the Class IO Certificates; however, such right to purchase is subject to the aggregate Stated Principal Balance of the Mortgage Pool at the time of purchase being less than 1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date specified on the face hereof.


                    In addition, any exchange by any Certificateholder of all of the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund may be made:  (i) if the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) are held by a single Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-1A, Class A-5FL Regular Interest, Class A-M, Class A-J, Class B, Class C, Class D and Class E Certificates have been paid in full.


                    The Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and obligations of the Depositor, the Master Servicer, the Special Servicer and the Trustee and the rights of the Certificateholders under the Agreement at any time by the Depositor, the Master Servicer, the Special Servicer and the Trustee with the consent of the Holders of Certificates entitled to at least 51% of the Voting Rights allocated to the affected Classes.  Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon this Certificate.  The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to maintain the status of the Trust Fund (or designated portions thereof) as consisting of three separate REMICs and two grantor trusts, without the consent of the Holders of any of the Certificates.


                    Unless the certificate of authentication hereon has been executed by the Certificate Registrar, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.


A-29-6-5









                    The registered Holder hereof, by its acceptance hereof, agrees that it will look solely to the Trust Fund (to the extent of its rights therein) for distributions hereunder.


                    This Certificate shall be construed in accordance with the internal laws of the State of New York applicable to agreements made and to be performed in said State, and the obligations, rights and remedies of the Holder hereof shall be determined in accordance with such laws.


A-29-6-6









                    IN WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed.


Dated:  May 23, 2007

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Certificate Registrar
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
   
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-29-6-7









CERTIFICATE OF AUTHENTICATION


                    This is one of the Class IO Certificates referred to in the within-mentioned Agreement.

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Authenticating Agent
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
   
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-29-6-8









ASSIGNMENT


                    FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto ________________________________________________________ (please print or typewrite name and address including postal zip code of assignee) the beneficial ownership interest in the Trust Fund evidenced by the within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the registration of transfer of such interest to assignee on the Certificate Register of the Trust Fund.


                    I (we) further direct the Certificate Registrar to issue a new Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and Class to the above named assignee and deliver such Commercial Mortgage Pass-Through Certificate to the following address:  __________________________________________________.


Dated:  _________________________


	
  
 
  	
  


  
	
  
 
  	
  
Signature by or on behalf of Assignor
  
	
  
 
  	
   
 
	
  
 
  	
   
 
	
  
 
  	
   
 
	
  
 
  	
  


  
	
  
 
  	
  
Signature Guaranteed
  




A-29-6-9









DISTRIBUTION INSTRUCTIONS


                    The Assignee should include the following for purposes of distribution:


                    Distributions shall, if permitted, be made by wire transfer or otherwise, in immediately available funds, to _____________________________ for the account of _______________.


                    Distributions made by check (such check to be made payable to _____________________) and all applicable statements and notices should be mailed to _________________________.


                    This information is provided by ________________________________, the Assignee named above, or ____________________________________, as its agent.


A-29-6-10









EXHIBIT A-29-7


FORM OF CLASS IO CERTIFICATE


CLASS IO COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
 SERIES 2007-C31


evidencing a beneficial ownership interest in a trust fund (the “Trust Fund”) consisting primarily of a pool of multifamily and commercial mortgage loans (the “Mortgage Loans”), such pool being formed and sold by


WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

	
  
Pass-Through   Rate:  Variable#IO
  	
  
 
  	
  
Aggregate   Certificate Notional Amount of the Class IO Certificates as of the   Closing Date: $5,845,468,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  Date of   Pooling and Servicing Agreement: as of May 1, 2007
  	
  
 
  	
  
Certificate   Notional Amount of this Class IO Certificate as of the Closing Date:   $500,000,000
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Closing   Date:  May 23, 2007
  	
  
 
  	
  
Aggregate   Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date:   $5,845,468,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  
First   Distribution Date:  June 15, 2007
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Master   Servicer:  Wachovia Bank, National   Association
  	
  
 
  	
  
Trustee: Wells   Fargo Bank, N.A.
  
	
   
  	
  
 
  	
  
 
  
	
  
Special   Servicer:  LNR Partners, Inc.
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Certificate   No. IO-7
  	
  
 
  	
  
CUSIP No.
  




THIS CERTIFICATE DOES NOT HAVE A CERTIFICATE PRINCIPAL BALANCE AND WILL NOT ENTITLE THE HOLDER HEREOF TO DISTRIBUTIONS OF PRINCIPAL, BUT IS ENTITLED TO RECEIVE DISTRIBUTIONS OF INTEREST ONLY ON A NOTIONAL AMOUNT AS SET FORTH IN THE AGREEMENT.


UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION (“DTC”), TO THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE 


A-29-7-1









OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.


THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.  NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.


THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933 (THE “SECURITIES ACT”) OR THE SECURITIES LAWS OF ANY STATE.  ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION 5.02 OF THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.


SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT” (A “REMIC”) AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986 (THE “CODE”).


BECAUSE THE COMPONENTS COMPRISING THE NOTIONAL AMOUNT OF THE CLASS IO CERTIFICATES WILL BE REDUCED BY ANY DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THE CERTIFICATES RELATING TO SUCH COMPONENTS AND BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND WHICH ARE ALLOCATED TO SUCH CERTIFICATES RELATING TO SUCH COMPONENTS AS SET FORTH IN THE AGREEMENT, THE OUTSTANDING NOTIONAL AMOUNT HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE. 


                    This certifies that Cede & Co. is the registered owner of the Percentage Interest evidenced by this Class IO Certificate in that certain beneficial ownership interest evidenced by all the Class IO Certificates in the Trust Fund created pursuant to a Pooling and Servicing Agreement, dated as specified above (the “Agreement”), among Wachovia Commercial Mortgage Securities, Inc. (herein called the “Depositor”, which term includes any successor entity under the Agreement), Wachovia Bank, National Association (herein called the “Master Servicer”, which term includes any successor entity under the Agreement), LNR Partners, Inc. (herein called the “Special Servicer”, which term includes any successor entity under the Agreement) and Wells Fargo Bank, N.A. (herein called the
“Trustee”, which term includes any successor entity under the Agreement), a summary of certain of the pertinent provisions of which 


A-29-7-2









is set forth hereafter.  To the extent not defined herein, the capitalized terms used herein have the respective meanings assigned in the Agreement.  This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound.


                    Pursuant to the terms of the Agreement, distributions will be made on the fourth Business Day following the related Determination Date (each, a “Distribution Date”).  The Determination Date is the 11th day of each month or, if such 11th day is not a Business Day, the Business Day immediately succeeding, commencing in July, 2006 (each, a “Determination Date”).  Distributions will be made commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the last Business Day of the month immediately preceding the month of such distribution (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount required to be distributed to the Holders of
the Class IO Certificates on the applicable Distribution Date pursuant to the Agreement.  The Pass-Through Rate applicable to the Class IO Certificates for each Distribution Date is as provided in the Agreement.  All distributions made under the Agreement on the Class IO Certificates will be made by Wells Fargo Bank, N.A., as paying agent (the “Paying Agent”), by wire transfer of immediately available funds to the account of the Person entitled thereto at a bank or other entity having appropriate facilities therefor, if such Certificateholder shall have provided the Paying Agent with wiring instructions no less than five Business Days prior to the related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions), or otherwise by check mailed to the address of such Certificateholder as it appears in the Certificate Register.  Notwithstanding the foregoing, the final distribution on this Certificate will be
made in like manner, but only upon presentation and surrender of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to the Holder hereof of such final distribution. 


                    The Certificates are limited in right of distribution to certain collections and recoveries respecting the Mortgage Loans and REO Loans, all as more specifically set forth herein and in the Agreement.  As provided in the Agreement, withdrawals from the Certificate Account, the Distribution Account and, if established, the REO Account may be made from time to time for purposes other than, and, in certain cases, prior to, distributions to Certificateholders, such purposes including the reimbursement of Advances made, or certain expenses incurred, with respect to the Mortgage Loans and the payment of interest on such Advances and expenses.


                    Interest accrued on this Certificate during an Interest Accrual Period, plus any unpaid interest shortfall with respect to this Certificate for any prior Distribution Date, if any, will be payable on the related Distribution Date to the extent provided in the Agreement.  The “Interest Accrual Period” with respect to any Distribution Date and with respect to the Class IO Certificates is the calendar month preceding the month in which such Distribution Date occurs and is assumed to consist of 30 days.


                    The Class IO Certificates are issuable in fully registered form only without coupons in minimum denominations specified in the Agreement.  As provided in the Agreement and subject to certain limitations therein set forth, Class IO Certificates are exchangeable for new Class IO Certificates in authorized denominations evidencing the same aggregate Percentage Interest, as requested by the Holder surrendering the same.


A-29-7-3









                    As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices of the Certificate Registrar, duly endorsed by, or accompanied by a written instrument of transfer in the form satisfactory to the Certificate Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Class IO Certificates in authorized denominations evidencing the same aggregate Percentage Interest will be issued to the designated transferee or transferees.


                    No transfer of any Class IO Certificate shall be made unless that transfer is made pursuant to an effective registration statement under the Securities Act, and effective registration or qualification under applicable state securities laws, or is made in a transaction which does not require such registration or qualification.  If such a transfer is to be made without registration under the Securities Act (other than in connection with the initial issuance thereof or the initial transfer thereof by the Depositor, the Underwriters or their respective affiliates), then the Certificate Registrar shall refuse to register such transfer unless it receives either: (i) a certificate from the Certificateholder desiring to effect such transfer substantially in the form attached as Exhibit F-1 to the Agreement, and a certificate from such
Certificateholder’s prospective transferee substantially in the form attached as either Exhibit F-2 or Exhibit F-3 to the Agreement; or (ii) an Opinion of Counsel reasonably satisfactory to the Certificate Registrar to the effect that such transfer may be made without registration under the Securities Act (which Opinion of Counsel shall not be an expense of the Trust Fund or of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar in their respective capacities as such), together with the written certification(s) as to the facts surrounding such transfer from the Certificateholder desiring to effect such transfer and/or such Certificateholder’s prospective transferee on which such Opinion of Counsel is based.  None of the Depositor, the Trustee, Paying Agent or the Certificate Registrar is obligated to register or qualify the Class IO Certificates under the Securities Act or any other securities law or to take any action not

otherwise required under the Agreement to permit the transfer of any Class IO Certificate without registration or qualification.  Any Class IO Certificateholder desiring to effect such a transfer shall, and by the acceptance of its Class IO Certificate agrees to, indemnify the Trustee, the Certificate Registrar, the Paying Agent and the Depositor against any liability that may result if the transfer is not so exempt or is not made in accordance with such federal and state laws.


                    No service charge will be imposed for any registration of transfer or exchange of Class IO Certificates, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of Class IO Certificates.


                    Notwithstanding the foregoing, for so long as this Certificate is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC, transfers of interests in this Certificate shall be made through the book-entry facilities of DTC.


A-29-7-4









                    The Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent and the Certificate Registrar and any agent of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes whatsoever and none of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent, the Certificate Registrar, or any such agent shall be affected by notice to the contrary.


                    The Trust Fund and the obligations created by the Agreement shall terminate upon distribution (or provision for distribution) to the Certificateholders of all amounts held by or on behalf of the Trustee and required to be distributed to them pursuant to the Agreement following the earlier to occur of (i) the final payment (or any advance with respect thereto) or other liquidation of the last Mortgage Loan or REO Property remaining in the Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder at a price determined as provided in the Agreement of all Mortgage Loans and each REO Property remaining in the Trust Fund.  The Agreement permits, but does not require, the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder to purchase from the Trust
Fund all Mortgage Loans and each REO Property remaining therein.  The exercise of such right will effect early retirement of the Class IO Certificates; however, such right to purchase is subject to the aggregate Stated Principal Balance of the Mortgage Pool at the time of purchase being less than 1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date specified on the face hereof.


                    In addition, any exchange by any Certificateholder of all of the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund may be made:  (i) if the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) are held by a single Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-1A, Class A-5FL Regular Interest, Class A-M, Class A-J, Class B, Class C, Class D and Class E Certificates have been paid in full.


                    The Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and obligations of the Depositor, the Master Servicer, the Special Servicer and the Trustee and the rights of the Certificateholders under the Agreement at any time by the Depositor, the Master Servicer, the Special Servicer and the Trustee with the consent of the Holders of Certificates entitled to at least 51% of the Voting Rights allocated to the affected Classes.  Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon this Certificate.  The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to maintain the status of the Trust Fund (or designated portions thereof) as consisting of three separate REMICs and two grantor trusts, without the consent of the Holders of any of the Certificates.


                    Unless the certificate of authentication hereon has been executed by the Certificate Registrar, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.


A-29-7-5









                    The registered Holder hereof, by its acceptance hereof, agrees that it will look solely to the Trust Fund (to the extent of its rights therein) for distributions hereunder.


                    This Certificate shall be construed in accordance with the internal laws of the State of New York applicable to agreements made and to be performed in said State, and the obligations, rights and remedies of the Holder hereof shall be determined in accordance with such laws.


A-29-7-6









                    IN WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed.


Dated:  May 23, 2007

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Certificate Registrar
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
   
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-29-7-7









CERTIFICATE OF AUTHENTICATION


                    This is one of the Class IO Certificates referred to in the within-mentioned Agreement.

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Authenticating Agent
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
   
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-29-7-8









ASSIGNMENT


                    FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto ________________________________________________________ (please print or typewrite name and address including postal zip code of assignee) the beneficial ownership interest in the Trust Fund evidenced by the within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the registration of transfer of such interest to assignee on the Certificate Register of the Trust Fund.


                    I (we) further direct the Certificate Registrar to issue a new Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and Class to the above named assignee and deliver such Commercial Mortgage Pass-Through Certificate to the following address:  __________________________________________________.


Dated:  _________________________


	
  
 
  	
  


  
	
  
 
  	
  
Signature by or on behalf of Assignor
  
	
  
 
  	
   
 
	
  
 
  	
   
 
	
  
 
  	
   
 
	
  
 
  	
  


  
	
  
 
  	
  
Signature Guaranteed
  




A-29-7-9









DISTRIBUTION INSTRUCTIONS


                    The Assignee should include the following for purposes of distribution:


                    Distributions shall, if permitted, be made by wire transfer or otherwise, in immediately available funds, to _____________________________ for the account of _______________.


                    Distributions made by check (such check to be made payable to _____________________) and all applicable statements and notices should be mailed to _________________________.


                    This information is provided by ________________________________, the Assignee named above, or ____________________________________, as its agent.


A-29-7-10









EXHIBIT A-29-8


FORM OF CLASS IO CERTIFICATE


CLASS IO COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
 SERIES 2007-C31


evidencing a beneficial ownership interest in a trust fund (the “Trust Fund”) consisting primarily of a pool of multifamily and commercial mortgage loans (the “Mortgage Loans”), such pool being formed and sold by


WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

	
  
Pass-Through   Rate:  Variable#IO
  	
  
 
  	
  
Aggregate   Certificate Notional Amount of the Class IO Certificates as of the   Closing Date: $5,845,468,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  Date of   Pooling and Servicing Agreement: as of May 1, 2007
  	
  
 
  	
  
Certificate   Notional Amount of this Class IO Certificate as of the Closing Date:   $500,000,000
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Closing   Date:  May 23, 2007
  	
  
 
  	
  
Aggregate   Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date:   $5,845,468,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  
First   Distribution Date:  June 15, 2007
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Master   Servicer:  Wachovia Bank, National   Association
  	
  
 
  	
  
Trustee:   Wells Fargo Bank, N.A.
  
	
   
  	
  
 
  	
  
 
  
	
  
Special   Servicer:  LNR Partners, Inc.
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Certificate   No. IO-8
  	
  
 
  	
  
CUSIP No.
  




THIS CERTIFICATE DOES NOT HAVE A CERTIFICATE PRINCIPAL BALANCE AND WILL NOT ENTITLE THE HOLDER HEREOF TO DISTRIBUTIONS OF PRINCIPAL, BUT IS ENTITLED TO RECEIVE DISTRIBUTIONS OF INTEREST ONLY ON A NOTIONAL AMOUNT AS SET FORTH IN THE AGREEMENT.


UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION (“DTC”), TO THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE 


A-29-8-1









OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.


THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.  NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.


THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933 (THE “SECURITIES ACT”) OR THE SECURITIES LAWS OF ANY STATE.  ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION 5.02 OF THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.


SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT” (A “REMIC”) AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986 (THE “CODE”).


BECAUSE THE COMPONENTS COMPRISING THE NOTIONAL AMOUNT OF THE CLASS IO CERTIFICATES WILL BE REDUCED BY ANY DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THE CERTIFICATES RELATING TO SUCH COMPONENTS AND BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND WHICH ARE ALLOCATED TO SUCH CERTIFICATES RELATING TO SUCH COMPONENTS AS SET FORTH IN THE AGREEMENT, THE OUTSTANDING NOTIONAL AMOUNT HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE. 


                    This certifies that Cede & Co. is the registered owner of the Percentage Interest evidenced by this Class IO Certificate in that certain beneficial ownership interest evidenced by all the Class IO Certificates in the Trust Fund created pursuant to a Pooling and Servicing Agreement, dated as specified above (the “Agreement”), among Wachovia Commercial Mortgage Securities, Inc. (herein called the “Depositor”, which term includes any successor entity under the Agreement), Wachovia Bank, National Association (herein called the “Master Servicer”, which term includes any successor entity under the Agreement), LNR Partners, Inc. (herein called the “Special Servicer”, which term includes any successor entity under the Agreement) and Wells Fargo Bank, N.A. (herein called the
“Trustee”, which term includes any successor entity under the Agreement), a summary of certain of the pertinent provisions of which 


A-29-8-2









is set forth hereafter.  To the extent not defined herein, the capitalized terms used herein have the respective meanings assigned in the Agreement.  This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound.


                    Pursuant to the terms of the Agreement, distributions will be made on the fourth Business Day following the related Determination Date (each, a “Distribution Date”).  The Determination Date is the 11th day of each month or, if such 11th day is not a Business Day, the Business Day immediately succeeding, commencing in July, 2006 (each, a “Determination Date”).  Distributions will be made commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the last Business Day of the month immediately preceding the month of such distribution (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount required to be distributed to the Holders of
the Class IO Certificates on the applicable Distribution Date pursuant to the Agreement.  The Pass-Through Rate applicable to the Class IO Certificates for each Distribution Date is as provided in the Agreement.  All distributions made under the Agreement on the Class IO Certificates will be made by Wells Fargo Bank, N.A., as paying agent (the “Paying Agent”), by wire transfer of immediately available funds to the account of the Person entitled thereto at a bank or other entity having appropriate facilities therefor, if such Certificateholder shall have provided the Paying Agent with wiring instructions no less than five Business Days prior to the related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions), or otherwise by check mailed to the address of such Certificateholder as it appears in the Certificate Register.  Notwithstanding the foregoing, the final distribution on this Certificate will be
made in like manner, but only upon presentation and surrender of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to the Holder hereof of such final distribution. 


                    The Certificates are limited in right of distribution to certain collections and recoveries respecting the Mortgage Loans and REO Loans, all as more specifically set forth herein and in the Agreement.  As provided in the Agreement, withdrawals from the Certificate Account, the Distribution Account and, if established, the REO Account may be made from time to time for purposes other than, and, in certain cases, prior to, distributions to Certificateholders, such purposes including the reimbursement of Advances made, or certain expenses incurred, with respect to the Mortgage Loans and the payment of interest on such Advances and expenses.


                    Interest accrued on this Certificate during an Interest Accrual Period, plus any unpaid interest shortfall with respect to this Certificate for any prior Distribution Date, if any, will be payable on the related Distribution Date to the extent provided in the Agreement.  The “Interest Accrual Period” with respect to any Distribution Date and with respect to the Class IO Certificates is the calendar month preceding the month in which such Distribution Date occurs and is assumed to consist of 30 days.


                    The Class IO Certificates are issuable in fully registered form only without coupons in minimum denominations specified in the Agreement.  As provided in the Agreement and subject to certain limitations therein set forth, Class IO Certificates are exchangeable for new Class IO Certificates in authorized denominations evidencing the same aggregate Percentage Interest, as requested by the Holder surrendering the same.


A-29-8-3









                    As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices of the Certificate Registrar, duly endorsed by, or accompanied by a written instrument of transfer in the form satisfactory to the Certificate Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Class IO Certificates in authorized denominations evidencing the same aggregate Percentage Interest will be issued to the designated transferee or transferees.


                    No transfer of any Class IO Certificate shall be made unless that transfer is made pursuant to an effective registration statement under the Securities Act, and effective registration or qualification under applicable state securities laws, or is made in a transaction which does not require such registration or qualification.  If such a transfer is to be made without registration under the Securities Act (other than in connection with the initial issuance thereof or the initial transfer thereof by the Depositor, the Underwriters or their respective affiliates), then the Certificate Registrar shall refuse to register such transfer unless it receives either: (i) a certificate from the Certificateholder desiring to effect such transfer substantially in the form attached as Exhibit F-1 to the Agreement, and a certificate from such
Certificateholder’s prospective transferee substantially in the form attached as either Exhibit F-2 or Exhibit F-3 to the Agreement; or (ii) an Opinion of Counsel reasonably satisfactory to the Certificate Registrar to the effect that such transfer may be made without registration under the Securities Act (which Opinion of Counsel shall not be an expense of the Trust Fund or of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar in their respective capacities as such), together with the written certification(s) as to the facts surrounding such transfer from the Certificateholder desiring to effect such transfer and/or such Certificateholder’s prospective transferee on which such Opinion of Counsel is based.  None of the Depositor, the Trustee, Paying Agent or the Certificate Registrar is obligated to register or qualify the Class IO Certificates under the Securities Act or any other securities law or to take any action not

otherwise required under the Agreement to permit the transfer of any Class IO Certificate without registration or qualification.  Any Class IO Certificateholder desiring to effect such a transfer shall, and by the acceptance of its Class IO Certificate agrees to, indemnify the Trustee, the Certificate Registrar, the Paying Agent and the Depositor against any liability that may result if the transfer is not so exempt or is not made in accordance with such federal and state laws.


                    No service charge will be imposed for any registration of transfer or exchange of Class IO Certificates, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of Class IO Certificates.


                    Notwithstanding the foregoing, for so long as this Certificate is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC, transfers of interests in this Certificate shall be made through the book-entry facilities of DTC.


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                    The Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent and the Certificate Registrar and any agent of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes whatsoever and none of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent, the Certificate Registrar, or any such agent shall be affected by notice to the contrary.


                    The Trust Fund and the obligations created by the Agreement shall terminate upon distribution (or provision for distribution) to the Certificateholders of all amounts held by or on behalf of the Trustee and required to be distributed to them pursuant to the Agreement following the earlier to occur of (i) the final payment (or any advance with respect thereto) or other liquidation of the last Mortgage Loan or REO Property remaining in the Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder at a price determined as provided in the Agreement of all Mortgage Loans and each REO Property remaining in the Trust Fund.  The Agreement permits, but does not require, the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder to purchase from the Trust
Fund all Mortgage Loans and each REO Property remaining therein.  The exercise of such right will effect early retirement of the Class IO Certificates; however, such right to purchase is subject to the aggregate Stated Principal Balance of the Mortgage Pool at the time of purchase being less than 1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date specified on the face hereof.


                    In addition, any exchange by any Certificateholder of all of the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund may be made:  (i) if the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) are held by a single Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-1A, Class A-5FL Regular Interest, Class A-M, Class A-J, Class B, Class C, Class D and Class E Certificates have been paid in full.


                    The Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and obligations of the Depositor, the Master Servicer, the Special Servicer and the Trustee and the rights of the Certificateholders under the Agreement at any time by the Depositor, the Master Servicer, the Special Servicer and the Trustee with the consent of the Holders of Certificates entitled to at least 51% of the Voting Rights allocated to the affected Classes.  Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon this Certificate.  The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to maintain the status of the Trust Fund (or designated portions thereof) as consisting of three separate REMICs and two grantor trusts, without the consent of the Holders of any of the Certificates.


                    Unless the certificate of authentication hereon has been executed by the Certificate Registrar, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.


A-29-8-5









                    The registered Holder hereof, by its acceptance hereof, agrees that it will look solely to the Trust Fund (to the extent of its rights therein) for distributions hereunder.


                    This Certificate shall be construed in accordance with the internal laws of the State of New York applicable to agreements made and to be performed in said State, and the obligations, rights and remedies of the Holder hereof shall be determined in accordance with such laws.


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                    IN WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed.


Dated:  May 23, 2007

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Certificate Registrar
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
   
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-29-8-7









CERTIFICATE OF AUTHENTICATION


                    This is one of the Class IO Certificates referred to in the within-mentioned Agreement.

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Authenticating Agent
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
   
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-29-8-8









ASSIGNMENT


                    FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto ________________________________________________________ (please print or typewrite name and address including postal zip code of assignee) the beneficial ownership interest in the Trust Fund evidenced by the within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the registration of transfer of such interest to assignee on the Certificate Register of the Trust Fund.


                    I (we) further direct the Certificate Registrar to issue a new Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and Class to the above named assignee and deliver such Commercial Mortgage Pass-Through Certificate to the following address:  __________________________________________________.


Dated:  _________________________


	
  
 
  	
  


  
	
  
 
  	
  
Signature by or on behalf of Assignor
  
	
  
 
  	
   
 
	
  
 
  	
   
 
	
  
 
  	
   
 
	
  
 
  	
  


  
	
  
 
  	
  
Signature Guaranteed
  




A-29-8-9









DISTRIBUTION INSTRUCTIONS


                    The Assignee should include the following for purposes of distribution:


                    Distributions shall, if permitted, be made by wire transfer or otherwise, in immediately available funds, to _____________________________ for the account of _______________.


                    Distributions made by check (such check to be made payable to _____________________) and all applicable statements and notices should be mailed to _________________________.


                    This information is provided by ________________________________, the Assignee named above, or ____________________________________, as its agent.


A-29-8-10









EXHIBIT A-29-9


FORM OF CLASS IO CERTIFICATE


CLASS IO COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
 SERIES 2007-C31


evidencing a beneficial ownership interest in a trust fund (the “Trust Fund”) consisting primarily of a pool of multifamily and commercial mortgage loans (the “Mortgage Loans”), such pool being formed and sold by


WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

	
  
Pass-Through   Rate:  Variable#IO
  	
  
 
  	
  
Aggregate   Certificate Notional Amount of the Class IO Certificates as of the   Closing Date: $5,845,468,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  Date of   Pooling and Servicing Agreement: as of May 1, 2007
  	
  
 
  	
  
Certificate   Notional Amount of this Class IO Certificate as of the Closing Date:   $500,000,000
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Closing   Date:  May 23, 2007
  	
  
 
  	
  
Aggregate   Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date:   $5,845,468,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  
First   Distribution Date:  June 15, 2007
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Master   Servicer:  Wachovia Bank, National   Association
  	
  
 
  	
  
Trustee:   Wells Fargo Bank, N.A.
  
	
   
  	
  
 
  	
  
 
  
	
  
Special   Servicer:  LNR Partners, Inc.
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Certificate   No. IO-9
  	
  
 
  	
  
CUSIP No.
  




THIS CERTIFICATE DOES NOT HAVE A CERTIFICATE PRINCIPAL BALANCE AND WILL NOT ENTITLE THE HOLDER HEREOF TO DISTRIBUTIONS OF PRINCIPAL, BUT IS ENTITLED TO RECEIVE DISTRIBUTIONS OF INTEREST ONLY ON A NOTIONAL AMOUNT AS SET FORTH IN THE AGREEMENT.


UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION (“DTC”), TO THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE


A-29-9-1









OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.


THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.  NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.


THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933 (THE “SECURITIES ACT”) OR THE SECURITIES LAWS OF ANY STATE.  ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION 5.02 OF THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.


SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT” (A “REMIC”) AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986 (THE “CODE”).


BECAUSE THE COMPONENTS COMPRISING THE NOTIONAL AMOUNT OF THE CLASS IO CERTIFICATES WILL BE REDUCED BY ANY DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THE CERTIFICATES RELATING TO SUCH COMPONENTS AND BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND WHICH ARE ALLOCATED TO SUCH CERTIFICATES RELATING TO SUCH COMPONENTS AS SET FORTH IN THE AGREEMENT, THE OUTSTANDING NOTIONAL AMOUNT HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE. 


                    This certifies that Cede & Co. is the registered owner of the Percentage Interest evidenced by this Class IO Certificate in that certain beneficial ownership interest evidenced by all the Class IO Certificates in the Trust Fund created pursuant to a Pooling and Servicing Agreement, dated as specified above (the “Agreement”), among Wachovia Commercial Mortgage Securities, Inc. (herein called the “Depositor”, which term includes any successor entity under the Agreement), Wachovia Bank, National Association (herein called the “Master Servicer”, which term includes any successor entity under the Agreement), LNR Partners, Inc. (herein called the “Special Servicer”, which term includes any successor entity under the Agreement) and Wells Fargo Bank, N.A. (herein called the
“Trustee”, which term includes any successor entity under the Agreement), a summary of certain of the pertinent provisions of which 


A-29-9-2









is set forth hereafter.  To the extent not defined herein, the capitalized terms used herein have the respective meanings assigned in the Agreement.  This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound.


                    Pursuant to the terms of the Agreement, distributions will be made on the fourth Business Day following the related Determination Date (each, a “Distribution Date”).  The Determination Date is the 11th day of each month or, if such 11th day is not a Business Day, the Business Day immediately succeeding, commencing in July, 2006 (each, a “Determination Date”).  Distributions will be made commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the last Business Day of the month immediately preceding the month of such distribution (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount required to be distributed to the Holders of
the Class IO Certificates on the applicable Distribution Date pursuant to the Agreement.  The Pass-Through Rate applicable to the Class IO Certificates for each Distribution Date is as provided in the Agreement.  All distributions made under the Agreement on the Class IO Certificates will be made by Wells Fargo Bank, N.A., as paying agent (the “Paying Agent”), by wire transfer of immediately available funds to the account of the Person entitled thereto at a bank or other entity having appropriate facilities therefor, if such Certificateholder shall have provided the Paying Agent with wiring instructions no less than five Business Days prior to the related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions), or otherwise by check mailed to the address of such Certificateholder as it appears in the Certificate Register.  Notwithstanding the foregoing, the final distribution on this Certificate will be
made in like manner, but only upon presentation and surrender of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to the Holder hereof of such final distribution. 


                    The Certificates are limited in right of distribution to certain collections and recoveries respecting the Mortgage Loans and REO Loans, all as more specifically set forth herein and in the Agreement.  As provided in the Agreement, withdrawals from the Certificate Account, the Distribution Account and, if established, the REO Account may be made from time to time for purposes other than, and, in certain cases, prior to, distributions to Certificateholders, such purposes including the reimbursement of Advances made, or certain expenses incurred, with respect to the Mortgage Loans and the payment of interest on such Advances and expenses.


                    Interest accrued on this Certificate during an Interest Accrual Period, plus any unpaid interest shortfall with respect to this Certificate for any prior Distribution Date, if any, will be payable on the related Distribution Date to the extent provided in the Agreement.  The “Interest Accrual Period” with respect to any Distribution Date and with respect to the Class IO Certificates is the calendar month preceding the month in which such Distribution Date occurs and is assumed to consist of 30 days.


                    The Class IO Certificates are issuable in fully registered form only without coupons in minimum denominations specified in the Agreement.  As provided in the Agreement and subject to certain limitations therein set forth, Class IO Certificates are exchangeable for new Class IO Certificates in authorized denominations evidencing the same aggregate Percentage Interest, as requested by the Holder surrendering the same.


A-29-9-3









                    As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices of the Certificate Registrar, duly endorsed by, or accompanied by a written instrument of transfer in the form satisfactory to the Certificate Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Class IO Certificates in authorized denominations evidencing the same aggregate Percentage Interest will be issued to the designated transferee or transferees.


                    No transfer of any Class IO Certificate shall be made unless that transfer is made pursuant to an effective registration statement under the Securities Act, and effective registration or qualification under applicable state securities laws, or is made in a transaction which does not require such registration or qualification.  If such a transfer is to be made without registration under the Securities Act (other than in connection with the initial issuance thereof or the initial transfer thereof by the Depositor, the Underwriters or their respective affiliates), then the Certificate Registrar shall refuse to register such transfer unless it receives either: (i) a certificate from the Certificateholder desiring to effect such transfer substantially in the form attached as Exhibit F-1 to the Agreement, and a certificate from such
Certificateholder’s prospective transferee substantially in the form attached as either Exhibit F-2 or Exhibit F-3 to the Agreement; or (ii) an Opinion of Counsel reasonably satisfactory to the Certificate Registrar to the effect that such transfer may be made without registration under the Securities Act (which Opinion of Counsel shall not be an expense of the Trust Fund or of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar in their respective capacities as such), together with the written certification(s) as to the facts surrounding such transfer from the Certificateholder desiring to effect such transfer and/or such Certificateholder’s prospective transferee on which such Opinion of Counsel is based.  None of the Depositor, the Trustee, Paying Agent or the Certificate Registrar is obligated to register or qualify the Class IO Certificates under the Securities Act or any other securities law or to take any action not

otherwise required under the Agreement to permit the transfer of any Class IO Certificate without registration or qualification.  Any Class IO Certificateholder desiring to effect such a transfer shall, and by the acceptance of its Class IO Certificate agrees to, indemnify the Trustee, the Certificate Registrar, the Paying Agent and the Depositor against any liability that may result if the transfer is not so exempt or is not made in accordance with such federal and state laws.


                    No service charge will be imposed for any registration of transfer or exchange of Class IO Certificates, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of Class IO Certificates.


                    Notwithstanding the foregoing, for so long as this Certificate is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC, transfers of interests in this Certificate shall be made through the book-entry facilities of DTC.


A-29-9-4









                    The Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent and the Certificate Registrar and any agent of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes whatsoever and none of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent, the Certificate Registrar, or any such agent shall be affected by notice to the contrary.


                    The Trust Fund and the obligations created by the Agreement shall terminate upon distribution (or provision for distribution) to the Certificateholders of all amounts held by or on behalf of the Trustee and required to be distributed to them pursuant to the Agreement following the earlier to occur of (i) the final payment (or any advance with respect thereto) or other liquidation of the last Mortgage Loan or REO Property remaining in the Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder at a price determined as provided in the Agreement of all Mortgage Loans and each REO Property remaining in the Trust Fund.  The Agreement permits, but does not require, the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder to purchase from the Trust
Fund all Mortgage Loans and each REO Property remaining therein.  The exercise of such right will effect early retirement of the Class IO Certificates; however, such right to purchase is subject to the aggregate Stated Principal Balance of the Mortgage Pool at the time of purchase being less than 1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date specified on the face hereof.


                    In addition, any exchange by any Certificateholder of all of the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund may be made:  (i) if the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) are held by a single Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-1A, Class A-5FL Regular Interest, Class A-M, Class A-J, Class B, Class C, Class D and Class E Certificates have been paid in full.


                    The Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and obligations of the Depositor, the Master Servicer, the Special Servicer and the Trustee and the rights of the Certificateholders under the Agreement at any time by the Depositor, the Master Servicer, the Special Servicer and the Trustee with the consent of the Holders of Certificates entitled to at least 51% of the Voting Rights allocated to the affected Classes.  Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon this Certificate.  The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to maintain the status of the Trust Fund (or designated portions thereof) as consisting of three separate REMICs and two grantor trusts, without the consent of the Holders of any of the Certificates.


                    Unless the certificate of authentication hereon has been executed by the Certificate Registrar, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.


A-29-9-5









                    The registered Holder hereof, by its acceptance hereof, agrees that it will look solely to the Trust Fund (to the extent of its rights therein) for distributions hereunder.


                    This Certificate shall be construed in accordance with the internal laws of the State of New York applicable to agreements made and to be performed in said State, and the obligations, rights and remedies of the Holder hereof shall be determined in accordance with such laws.


A-29-9-6









                    IN WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed.


Dated:  May 23, 2007

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Certificate Registrar
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
   
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-29-9-7









CERTIFICATE OF AUTHENTICATION


                    This is one of the Class IO Certificates referred to in the within-mentioned Agreement.

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Authenticating Agent
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
   
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-29-9-8









ASSIGNMENT


                    FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto ________________________________________________________ (please print or typewrite name and address including postal zip code of assignee) the beneficial ownership interest in the Trust Fund evidenced by the within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the registration of transfer of such interest to assignee on the Certificate Register of the Trust Fund.


                    I (we) further direct the Certificate Registrar to issue a new Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and Class to the above named assignee and deliver such Commercial Mortgage Pass-Through Certificate to the following address:  __________________________________________________.


Dated:  _________________________


	
  
 
  	
  


  
	
  
 
  	
  
Signature by or on behalf of Assignor
  
	
  
 
  	
   
 
	
  
 
  	
   
 
	
  
 
  	
   
 
	
  
 
  	
  


  
	
  
 
  	
  
Signature Guaranteed
  




A-29-9-9









DISTRIBUTION INSTRUCTIONS


                    The Assignee should include the following for purposes of distribution:


                    Distributions shall, if permitted, be made by wire transfer or otherwise, in immediately available funds, to _____________________________ for the account of _______________.


                    Distributions made by check (such check to be made payable to _____________________) and all applicable statements and notices should be mailed to _________________________.


                    This information is provided by ________________________________, the Assignee named above, or ____________________________________, as its agent.


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EXHIBIT A-29-10


FORM OF CLASS IO CERTIFICATE


CLASS IO COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
 SERIES 2007-C31


evidencing a beneficial ownership interest in a trust fund (the “Trust Fund”) consisting primarily of a pool of multifamily and commercial mortgage loans (the “Mortgage Loans”), such pool being formed and sold by


WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

	
  
Pass-Through   Rate:  Variable#IO
  	
  
 
  	
  
Aggregate   Certificate Notional Amount of the Class IO Certificates as of the   Closing Date: $5,845,468,231
  
	
   
  	
  
 
  	
  
 
  
	
  
Date of   Pooling and Servicing Agreement: as of May 1, 2007
  	
  
 
  	
  
Certificate   Notional Amount of this Class IO Certificate as of the Closing Date:   $500,000,000
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Closing   Date:  May 23, 2007
  	
  
 
  	
  
Aggregate   Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date:   $5,845,468,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  
First   Distribution Date:  June 15, 2007
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  Master   Servicer:  Wachovia Bank, National   Association
  	
  
 
  	
  
Trustee:   Wells Fargo Bank, N.A.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Special   Servicer:  LNR Partners, Inc.
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Certificate   No. IO-10
  	
  
 
  	
  
CUSIP No.
  




THIS CERTIFICATE DOES NOT HAVE A CERTIFICATE PRINCIPAL BALANCE AND WILL NOT ENTITLE THE HOLDER HEREOF TO DISTRIBUTIONS OF PRINCIPAL, BUT IS ENTITLED TO RECEIVE DISTRIBUTIONS OF INTEREST ONLY ON A NOTIONAL AMOUNT AS SET FORTH IN THE AGREEMENT.


UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION (“DTC”), TO THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE


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OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.


THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.  NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.


THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933 (THE “SECURITIES ACT”) OR THE SECURITIES LAWS OF ANY STATE.  ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION 5.02 OF THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.


SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT” (A “REMIC”) AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986 (THE “CODE”).


BECAUSE THE COMPONENTS COMPRISING THE NOTIONAL AMOUNT OF THE CLASS IO CERTIFICATES WILL BE REDUCED BY ANY DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THE CERTIFICATES RELATING TO SUCH COMPONENTS AND BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND WHICH ARE ALLOCATED TO SUCH CERTIFICATES RELATING TO SUCH COMPONENTS AS SET FORTH IN THE AGREEMENT, THE OUTSTANDING NOTIONAL AMOUNT HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE. 


                    This certifies that Cede & Co. is the registered owner of the Percentage Interest evidenced by this Class IO Certificate in that certain beneficial ownership interest evidenced by all the Class IO Certificates in the Trust Fund created pursuant to a Pooling and Servicing Agreement, dated as specified above (the “Agreement”), among Wachovia Commercial Mortgage Securities, Inc. (herein called the “Depositor”, which term includes any successor entity under the Agreement), Wachovia Bank, National Association (herein called the “Master Servicer”, which term includes any successor entity under the Agreement), LNR Partners, Inc. (herein called the “Special Servicer”, which term includes any successor entity under the Agreement) and Wells Fargo Bank, N.A. (herein called the
“Trustee”, which term includes any successor entity under the Agreement), a summary of certain of the pertinent provisions of which 


A-29-10-2









is set forth hereafter.  To the extent not defined herein, the capitalized terms used herein have the respective meanings assigned in the Agreement.  This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound.


                    Pursuant to the terms of the Agreement, distributions will be made on the fourth Business Day following the related Determination Date (each, a “Distribution Date”).  The Determination Date is the 11th day of each month or, if such 11th day is not a Business Day, the Business Day immediately succeeding, commencing in July, 2006 (each, a “Determination Date”).  Distributions will be made commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the last Business Day of the month immediately preceding the month of such distribution (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount required to be distributed to the Holders of
the Class IO Certificates on the applicable Distribution Date pursuant to the Agreement.  The Pass-Through Rate applicable to the Class IO Certificates for each Distribution Date is as provided in the Agreement.  All distributions made under the Agreement on the Class IO Certificates will be made by Wells Fargo Bank, N.A., as paying agent (the “Paying Agent”), by wire transfer of immediately available funds to the account of the Person entitled thereto at a bank or other entity having appropriate facilities therefor, if such Certificateholder shall have provided the Paying Agent with wiring instructions no less than five Business Days prior to the related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions), or otherwise by check mailed to the address of such Certificateholder as it appears in the Certificate Register.  Notwithstanding the foregoing, the final distribution on this Certificate will be
made in like manner, but only upon presentation and surrender of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to the Holder hereof of such final distribution. 


                    The Certificates are limited in right of distribution to certain collections and recoveries respecting the Mortgage Loans and REO Loans, all as more specifically set forth herein and in the Agreement.  As provided in the Agreement, withdrawals from the Certificate Account, the Distribution Account and, if established, the REO Account may be made from time to time for purposes other than, and, in certain cases, prior to, distributions to Certificateholders, such purposes including the reimbursement of Advances made, or certain expenses incurred, with respect to the Mortgage Loans and the payment of interest on such Advances and expenses.


                    Interest accrued on this Certificate during an Interest Accrual Period, plus any unpaid interest shortfall with respect to this Certificate for any prior Distribution Date, if any, will be payable on the related Distribution Date to the extent provided in the Agreement.  The “Interest Accrual Period” with respect to any Distribution Date and with respect to the Class IO Certificates is the calendar month preceding the month in which such Distribution Date occurs and is assumed to consist of 30 days.


                    The Class IO Certificates are issuable in fully registered form only without coupons in minimum denominations specified in the Agreement.  As provided in the Agreement and subject to certain limitations therein set forth, Class IO Certificates are exchangeable for new Class IO Certificates in authorized denominations evidencing the same aggregate Percentage Interest, as requested by the Holder surrendering the same.


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                    As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices of the Certificate Registrar, duly endorsed by, or accompanied by a written instrument of transfer in the form satisfactory to the Certificate Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Class IO Certificates in authorized denominations evidencing the same aggregate Percentage Interest will be issued to the designated transferee or transferees.


                    No transfer of any Class IO Certificate shall be made unless that transfer is made pursuant to an effective registration statement under the Securities Act, and effective registration or qualification under applicable state securities laws, or is made in a transaction which does not require such registration or qualification.  If such a transfer is to be made without registration under the Securities Act (other than in connection with the initial issuance thereof or the initial transfer thereof by the Depositor, the Underwriters or their respective affiliates), then the Certificate Registrar shall refuse to register such transfer unless it receives either: (i) a certificate from the Certificateholder desiring to effect such transfer substantially in the form attached as Exhibit F-1 to the Agreement, and a certificate from such
Certificateholder’s prospective transferee substantially in the form attached as either Exhibit F-2 or Exhibit F-3 to the Agreement; or (ii) an Opinion of Counsel reasonably satisfactory to the Certificate Registrar to the effect that such transfer may be made without registration under the Securities Act (which Opinion of Counsel shall not be an expense of the Trust Fund or of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar in their respective capacities as such), together with the written certification(s) as to the facts surrounding such transfer from the Certificateholder desiring to effect such transfer and/or such Certificateholder’s prospective transferee on which such Opinion of Counsel is based.  None of the Depositor, the Trustee, Paying Agent or the Certificate Registrar is obligated to register or qualify the Class IO Certificates under the Securities Act or any other securities law or to take any action not

otherwise required under the Agreement to permit the transfer of any Class IO Certificate without registration or qualification.  Any Class IO Certificateholder desiring to effect such a transfer shall, and by the acceptance of its Class IO Certificate agrees to, indemnify the Trustee, the Certificate Registrar, the Paying Agent and the Depositor against any liability that may result if the transfer is not so exempt or is not made in accordance with such federal and state laws.


                    No service charge will be imposed for any registration of transfer or exchange of Class IO Certificates, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of Class IO Certificates.


                    Notwithstanding the foregoing, for so long as this Certificate is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC, transfers of interests in this Certificate shall be made through the book-entry facilities of DTC.


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                    The Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent and the Certificate Registrar and any agent of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes whatsoever and none of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent, the Certificate Registrar, or any such agent shall be affected by notice to the contrary.


                    The Trust Fund and the obligations created by the Agreement shall terminate upon distribution (or provision for distribution) to the Certificateholders of all amounts held by or on behalf of the Trustee and required to be distributed to them pursuant to the Agreement following the earlier to occur of (i) the final payment (or any advance with respect thereto) or other liquidation of the last Mortgage Loan or REO Property remaining in the Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder at a price determined as provided in the Agreement of all Mortgage Loans and each REO Property remaining in the Trust Fund.  The Agreement permits, but does not require, the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder to purchase from the Trust
Fund all Mortgage Loans and each REO Property remaining therein.  The exercise of such right will effect early retirement of the Class IO Certificates; however, such right to purchase is subject to the aggregate Stated Principal Balance of the Mortgage Pool at the time of purchase being less than 1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date specified on the face hereof.


                    In addition, any exchange by any Certificateholder of all of the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund may be made:  (i) if the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) are held by a single Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-1A, Class A-5FL Regular Interest, Class A-M, Class A-J, Class B, Class C, Class D and Class E Certificates have been paid in full.


                    The Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and obligations of the Depositor, the Master Servicer, the Special Servicer and the Trustee and the rights of the Certificateholders under the Agreement at any time by the Depositor, the Master Servicer, the Special Servicer and the Trustee with the consent of the Holders of Certificates entitled to at least 51% of the Voting Rights allocated to the affected Classes.  Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon this Certificate.  The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to maintain the status of the Trust Fund (or designated portions thereof) as consisting of three separate REMICs and two grantor trusts, without the consent of the Holders of any of the Certificates.


                    Unless the certificate of authentication hereon has been executed by the Certificate Registrar, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.


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                    The registered Holder hereof, by its acceptance hereof, agrees that it will look solely to the Trust Fund (to the extent of its rights therein) for distributions hereunder.


                    This Certificate shall be construed in accordance with the internal laws of the State of New York applicable to agreements made and to be performed in said State, and the obligations, rights and remedies of the Holder hereof shall be determined in accordance with such laws.


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                    IN WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed.


Dated:  May 23, 2007

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Certificate Registrar
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
   
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




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CERTIFICATE OF AUTHENTICATION


                    This is one of the Class IO Certificates referred to in the within-mentioned Agreement.

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Authenticating Agent
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
   
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




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ASSIGNMENT


                    FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto ________________________________________________________ (please print or typewrite name and address including postal zip code of assignee) the beneficial ownership interest in the Trust Fund evidenced by the within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the registration of transfer of such interest to assignee on the Certificate Register of the Trust Fund.


                    I (we) further direct the Certificate Registrar to issue a new Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and Class to the above named assignee and deliver such Commercial Mortgage Pass-Through Certificate to the following address:  __________________________________________________.


Dated:  _________________________


	
  
 
  	
  


  
	
  
 
  	
  
Signature by or on behalf of Assignor
  
	
  
 
  	
   
 
	
  
 
  	
   
 
	
  
 
  	
   
 
	
  
 
  	
  


  
	
  
 
  	
  
Signature Guaranteed
  




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DISTRIBUTION INSTRUCTIONS


                    The Assignee should include the following for purposes of distribution:


                    Distributions shall, if permitted, be made by wire transfer or otherwise, in immediately available funds, to _____________________________ for the account of _______________.


                    Distributions made by check (such check to be made payable to _____________________) and all applicable statements and notices should be mailed to _________________________.


                    This information is provided by ________________________________, the Assignee named above, or ____________________________________, as its agent.


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EXHIBIT A-29-11


FORM OF CLASS IO CERTIFICATE


CLASS IO COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
 SERIES 2007-C31


evidencing a beneficial ownership interest in a trust fund (the “Trust Fund”) consisting primarily of a pool of multifamily and commercial mortgage loans (the “Mortgage Loans”), such pool being formed and sold by


WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

	
  
Pass-Through   Rate:  Variable#IO
  	
  
 
  	
  
Aggregate   Certificate Notional Amount of the Class IO Certificates as of the   Closing Date: $5,845,468,231
  
	
   
  	
  
 
  	
  
 
  
	
  
Date of   Pooling and Servicing Agreement: as of May 1, 2007
  	
  
 
  	
  
Certificate   Notional Amount of this Class IO Certificate as of the Closing Date:   $500,000,000
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Closing   Date:  May 23, 2007
  	
  
 
  	
  
Aggregate   Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date:   $5,845,468,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  
First   Distribution Date:  June 15, 2007
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  Master   Servicer:  Wachovia Bank, National   Association
  	
  
 
  	
  
Trustee:   Wells Fargo Bank, N.A.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Special   Servicer:  LNR Partners, Inc.
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Certificate   No. IO-11
  	
  
 
  	
  
CUSIP No.
  




THIS CERTIFICATE DOES NOT HAVE A CERTIFICATE PRINCIPAL BALANCE AND WILL NOT ENTITLE THE HOLDER HEREOF TO DISTRIBUTIONS OF PRINCIPAL, BUT IS ENTITLED TO RECEIVE DISTRIBUTIONS OF INTEREST ONLY ON A NOTIONAL AMOUNT AS SET FORTH IN THE AGREEMENT.


UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION (“DTC”), TO THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE 


A-29-11-1









OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.


THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.  NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.


THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933 (THE “SECURITIES ACT”) OR THE SECURITIES LAWS OF ANY STATE.  ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION 5.02 OF THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.


SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT” (A “REMIC”) AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986 (THE “CODE”).


BECAUSE THE COMPONENTS COMPRISING THE NOTIONAL AMOUNT OF THE CLASS IO CERTIFICATES WILL BE REDUCED BY ANY DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THE CERTIFICATES RELATING TO SUCH COMPONENTS AND BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND WHICH ARE ALLOCATED TO SUCH CERTIFICATES RELATING TO SUCH COMPONENTS AS SET FORTH IN THE AGREEMENT, THE OUTSTANDING NOTIONAL AMOUNT HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE. 


                    This certifies that Cede & Co. is the registered owner of the Percentage Interest evidenced by this Class IO Certificate in that certain beneficial ownership interest evidenced by all the Class IO Certificates in the Trust Fund created pursuant to a Pooling and Servicing Agreement, dated as specified above (the “Agreement”), among Wachovia Commercial Mortgage Securities, Inc. (herein called the “Depositor”, which term includes any successor entity under the Agreement), Wachovia Bank, National Association (herein called the “Master Servicer”, which term includes any successor entity under the Agreement), LNR Partners, Inc. (herein called the “Special Servicer”, which term includes any successor entity under the Agreement) and Wells Fargo Bank, N.A. (herein called the
“Trustee”, which term includes any successor entity under the Agreement), a summary of certain of the pertinent provisions of which 


A-29-11-2









is set forth hereafter.  To the extent not defined herein, the capitalized terms used herein have the respective meanings assigned in the Agreement.  This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound.


                    Pursuant to the terms of the Agreement, distributions will be made on the fourth Business Day following the related Determination Date (each, a “Distribution Date”).  The Determination Date is the 11th day of each month or, if such 11th day is not a Business Day, the Business Day immediately succeeding, commencing in July, 2006 (each, a “Determination Date”).  Distributions will be made commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the last Business Day of the month immediately preceding the month of such distribution (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount required to be distributed to the Holders of
the Class IO Certificates on the applicable Distribution Date pursuant to the Agreement.  The Pass-Through Rate applicable to the Class IO Certificates for each Distribution Date is as provided in the Agreement.  All distributions made under the Agreement on the Class IO Certificates will be made by Wells Fargo Bank, N.A., as paying agent (the “Paying Agent”), by wire transfer of immediately available funds to the account of the Person entitled thereto at a bank or other entity having appropriate facilities therefor, if such Certificateholder shall have provided the Paying Agent with wiring instructions no less than five Business Days prior to the related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions), or otherwise by check mailed to the address of such Certificateholder as it appears in the Certificate Register.  Notwithstanding the foregoing, the final distribution on this Certificate will be
made in like manner, but only upon presentation and surrender of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to the Holder hereof of such final distribution. 


                    The Certificates are limited in right of distribution to certain collections and recoveries respecting the Mortgage Loans and REO Loans, all as more specifically set forth herein and in the Agreement.  As provided in the Agreement, withdrawals from the Certificate Account, the Distribution Account and, if established, the REO Account may be made from time to time for purposes other than, and, in certain cases, prior to, distributions to Certificateholders, such purposes including the reimbursement of Advances made, or certain expenses incurred, with respect to the Mortgage Loans and the payment of interest on such Advances and expenses.


                    Interest accrued on this Certificate during an Interest Accrual Period, plus any unpaid interest shortfall with respect to this Certificate for any prior Distribution Date, if any, will be payable on the related Distribution Date to the extent provided in the Agreement.  The “Interest Accrual Period” with respect to any Distribution Date and with respect to the Class IO Certificates is the calendar month preceding the month in which such Distribution Date occurs and is assumed to consist of 30 days.


                    The Class IO Certificates are issuable in fully registered form only without coupons in minimum denominations specified in the Agreement.  As provided in the Agreement and subject to certain limitations therein set forth, Class IO Certificates are exchangeable for new Class IO Certificates in authorized denominations evidencing the same aggregate Percentage Interest, as requested by the Holder surrendering the same.


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                    As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices of the Certificate Registrar, duly endorsed by, or accompanied by a written instrument of transfer in the form satisfactory to the Certificate Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Class IO Certificates in authorized denominations evidencing the same aggregate Percentage Interest will be issued to the designated transferee or transferees.


                    No transfer of any Class IO Certificate shall be made unless that transfer is made pursuant to an effective registration statement under the Securities Act, and effective registration or qualification under applicable state securities laws, or is made in a transaction which does not require such registration or qualification.  If such a transfer is to be made without registration under the Securities Act (other than in connection with the initial issuance thereof or the initial transfer thereof by the Depositor, the Underwriters or their respective affiliates), then the Certificate Registrar shall refuse to register such transfer unless it receives either: (i) a certificate from the Certificateholder desiring to effect such transfer substantially in the form attached as Exhibit F-1 to the Agreement, and a certificate from such
Certificateholder’s prospective transferee substantially in the form attached as either Exhibit F-2 or Exhibit F-3 to the Agreement; or (ii) an Opinion of Counsel reasonably satisfactory to the Certificate Registrar to the effect that such transfer may be made without registration under the Securities Act (which Opinion of Counsel shall not be an expense of the Trust Fund or of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar in their respective capacities as such), together with the written certification(s) as to the facts surrounding such transfer from the Certificateholder desiring to effect such transfer and/or such Certificateholder’s prospective transferee on which such Opinion of Counsel is based.  None of the Depositor, the Trustee, Paying Agent or the Certificate Registrar is obligated to register or qualify the Class IO Certificates under the Securities Act or any other securities law or to take any action not

otherwise required under the Agreement to permit the transfer of any Class IO Certificate without registration or qualification.  Any Class IO Certificateholder desiring to effect such a transfer shall, and by the acceptance of its Class IO Certificate agrees to, indemnify the Trustee, the Certificate Registrar, the Paying Agent and the Depositor against any liability that may result if the transfer is not so exempt or is not made in accordance with such federal and state laws.


                    No service charge will be imposed for any registration of transfer or exchange of Class IO Certificates, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of Class IO Certificates.


                    Notwithstanding the foregoing, for so long as this Certificate is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC, transfers of interests in this Certificate shall be made through the book-entry facilities of DTC.


A-29-11-4









                    The Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent and the Certificate Registrar and any agent of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes whatsoever and none of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent, the Certificate Registrar, or any such agent shall be affected by notice to the contrary.


                    The Trust Fund and the obligations created by the Agreement shall terminate upon distribution (or provision for distribution) to the Certificateholders of all amounts held by or on behalf of the Trustee and required to be distributed to them pursuant to the Agreement following the earlier to occur of (i) the final payment (or any advance with respect thereto) or other liquidation of the last Mortgage Loan or REO Property remaining in the Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder at a price determined as provided in the Agreement of all Mortgage Loans and each REO Property remaining in the Trust Fund.  The Agreement permits, but does not require, the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder to purchase from the Trust
Fund all Mortgage Loans and each REO Property remaining therein.  The exercise of such right will effect early retirement of the Class IO Certificates; however, such right to purchase is subject to the aggregate Stated Principal Balance of the Mortgage Pool at the time of purchase being less than 1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date specified on the face hereof.


                    In addition, any exchange by any Certificateholder of all of the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund may be made:  (i) if the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) are held by a single Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-1A, Class A-5FL Regular Interest, Class A-M, Class A-J, Class B, Class C, Class D and Class E Certificates have been paid in full.


                    The Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and obligations of the Depositor, the Master Servicer, the Special Servicer and the Trustee and the rights of the Certificateholders under the Agreement at any time by the Depositor, the Master Servicer, the Special Servicer and the Trustee with the consent of the Holders of Certificates entitled to at least 51% of the Voting Rights allocated to the affected Classes.  Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon this Certificate.  The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to maintain the status of the Trust Fund (or designated portions thereof) as consisting of three separate REMICs and two grantor trusts, without the consent of the Holders of any of the Certificates.


                    Unless the certificate of authentication hereon has been executed by the Certificate Registrar, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.


A-29-11-5









                    The registered Holder hereof, by its acceptance hereof, agrees that it will look solely to the Trust Fund (to the extent of its rights therein) for distributions hereunder.


                    This Certificate shall be construed in accordance with the internal laws of the State of New York applicable to agreements made and to be performed in said State, and the obligations, rights and remedies of the Holder hereof shall be determined in accordance with such laws.


A-29-11-6









                    IN WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed.


Dated:  May 23, 2007

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Certificate Registrar
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
   
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-29-11-7









CERTIFICATE OF AUTHENTICATION


                    This is one of the Class IO Certificates referred to in the within-mentioned Agreement.

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Authenticating Agent
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
   
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-29-11-8









ASSIGNMENT


                    FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto ________________________________________________________ (please print or typewrite name and address including postal zip code of assignee) the beneficial ownership interest in the Trust Fund evidenced by the within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the registration of transfer of such interest to assignee on the Certificate Register of the Trust Fund.


                    I (we) further direct the Certificate Registrar to issue a new Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and Class to the above named assignee and deliver such Commercial Mortgage Pass-Through Certificate to the following address:  __________________________________________________.


Dated:  _________________________


	
  
 
  	
  


  
	
  
 
  	
  
Signature by or on behalf of Assignor
  
	
  
 
  	
   
 
	
  
 
  	
   
 
	
  
 
  	
   
 
	
  
 
  	
  


  
	
  
 
  	
  
Signature Guaranteed
  




A-29-11-9









DISTRIBUTION INSTRUCTIONS


                    The Assignee should include the following for purposes of distribution:


                    Distributions shall, if permitted, be made by wire transfer or otherwise, in immediately available funds, to _____________________________ for the account of _______________.


                    Distributions made by check (such check to be made payable to _____________________) and all applicable statements and notices should be mailed to _________________________.


                    This information is provided by ________________________________, the Assignee named above, or ____________________________________, as its agent.


A-29-11-10









EXHIBIT A-29-12


FORM OF CLASS IO CERTIFICATE


CLASS IO COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
 SERIES 2007-C31


evidencing a beneficial ownership interest in a trust fund (the “Trust Fund”) consisting primarily of a pool of multifamily and commercial mortgage loans (the “Mortgage Loans”), such pool being formed and sold by


WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

	
  
Pass-Through   Rate:  Variable#IO
  	
  
 
  	
  
Aggregate   Certificate Notional Amount of the Class IO Certificates as of the   Closing Date: $5,845,468,231
  
	
   
  	
  
 
  	
  
 
  
	
  
Date of   Pooling and Servicing Agreement: as of May 1, 2007
  	
  
 
  	
  
Certificate   Notional Amount of this Class IO Certificate as of the Closing Date:   $345,468,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Closing   Date:  May 23, 2007
  	
  
 
  	
  
Aggregate   Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date:   $5,845,468,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  
First   Distribution Date:  June 15, 2007
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  Master   Servicer:  Wachovia Bank, National   Association
  	
  
 
  	
  
Trustee:   Wells Fargo Bank, N.A.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Special   Servicer:  LNR Partners, Inc.
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Certificate   No. IO-12
  	
  
 
  	
  
CUSIP No.
  




THIS CERTIFICATE DOES NOT HAVE A CERTIFICATE PRINCIPAL BALANCE AND WILL NOT ENTITLE THE HOLDER HEREOF TO DISTRIBUTIONS OF PRINCIPAL, BUT IS ENTITLED TO RECEIVE DISTRIBUTIONS OF INTEREST ONLY ON A NOTIONAL AMOUNT AS SET FORTH IN THE AGREEMENT.


UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION (“DTC”), TO THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE 


A-29-12-1









OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.


THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.  NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.


THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933 (THE “SECURITIES ACT”) OR THE SECURITIES LAWS OF ANY STATE.  ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION 5.02 OF THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.


SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT” (A “REMIC”) AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986 (THE “CODE”).


BECAUSE THE COMPONENTS COMPRISING THE NOTIONAL AMOUNT OF THE CLASS IO CERTIFICATES WILL BE REDUCED BY ANY DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THE CERTIFICATES RELATING TO SUCH COMPONENTS AND BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND WHICH ARE ALLOCATED TO SUCH CERTIFICATES RELATING TO SUCH COMPONENTS AS SET FORTH IN THE AGREEMENT, THE OUTSTANDING NOTIONAL AMOUNT HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE. 


                    This certifies that Cede & Co. is the registered owner of the Percentage Interest evidenced by this Class IO Certificate in that certain beneficial ownership interest evidenced by all the Class IO Certificates in the Trust Fund created pursuant to a Pooling and Servicing Agreement, dated as specified above (the “Agreement”), among Wachovia Commercial Mortgage Securities, Inc. (herein called the “Depositor”, which term includes any successor entity under the Agreement), Wachovia Bank, National Association (herein called the “Master Servicer”, which term includes any successor entity under the Agreement), LNR Partners, Inc. (herein called the “Special Servicer”, which term includes any successor entity under the Agreement) and Wells Fargo Bank, N.A. (herein called the
“Trustee”, which term includes any successor entity under the Agreement), a summary of certain of the pertinent provisions of which 


A-29-12-2









is set forth hereafter.  To the extent not defined herein, the capitalized terms used herein have the respective meanings assigned in the Agreement.  This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound.


                    Pursuant to the terms of the Agreement, distributions will be made on the fourth Business Day following the related Determination Date (each, a “Distribution Date”).  The Determination Date is the 11th day of each month or, if such 11th day is not a Business Day, the Business Day immediately succeeding, commencing in July, 2006 (each, a “Determination Date”).  Distributions will be made commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the last Business Day of the month immediately preceding the month of such distribution (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount required to be distributed to the Holders of
the Class IO Certificates on the applicable Distribution Date pursuant to the Agreement.  The Pass-Through Rate applicable to the Class IO Certificates for each Distribution Date is as provided in the Agreement.  All distributions made under the Agreement on the Class IO Certificates will be made by Wells Fargo Bank, N.A., as paying agent (the “Paying Agent”), by wire transfer of immediately available funds to the account of the Person entitled thereto at a bank or other entity having appropriate facilities therefor, if such Certificateholder shall have provided the Paying Agent with wiring instructions no less than five Business Days prior to the related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions), or otherwise by check mailed to the address of such Certificateholder as it appears in the Certificate Register.  Notwithstanding the foregoing, the final distribution on this Certificate will be
made in like manner, but only upon presentation and surrender of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to the Holder hereof of such final distribution. 


                    The Certificates are limited in right of distribution to certain collections and recoveries respecting the Mortgage Loans and REO Loans, all as more specifically set forth herein and in the Agreement.  As provided in the Agreement, withdrawals from the Certificate Account, the Distribution Account and, if established, the REO Account may be made from time to time for purposes other than, and, in certain cases, prior to, distributions to Certificateholders, such purposes including the reimbursement of Advances made, or certain expenses incurred, with respect to the Mortgage Loans and the payment of interest on such Advances and expenses.


                    Interest accrued on this Certificate during an Interest Accrual Period, plus any unpaid interest shortfall with respect to this Certificate for any prior Distribution Date, if any, will be payable on the related Distribution Date to the extent provided in the Agreement.  The “Interest Accrual Period” with respect to any Distribution Date and with respect to the Class IO Certificates is the calendar month preceding the month in which such Distribution Date occurs and is assumed to consist of 30 days.


                    The Class IO Certificates are issuable in fully registered form only without coupons in minimum denominations specified in the Agreement.  As provided in the Agreement and subject to certain limitations therein set forth, Class IO Certificates are exchangeable for new Class IO Certificates in authorized denominations evidencing the same aggregate Percentage Interest, as requested by the Holder surrendering the same.


A-29-12-3









                    As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices of the Certificate Registrar, duly endorsed by, or accompanied by a written instrument of transfer in the form satisfactory to the Certificate Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Class IO Certificates in authorized denominations evidencing the same aggregate Percentage Interest will be issued to the designated transferee or transferees.


                    No transfer of any Class IO Certificate shall be made unless that transfer is made pursuant to an effective registration statement under the Securities Act, and effective registration or qualification under applicable state securities laws, or is made in a transaction which does not require such registration or qualification.  If such a transfer is to be made without registration under the Securities Act (other than in connection with the initial issuance thereof or the initial transfer thereof by the Depositor, the Underwriters or their respective affiliates), then the Certificate Registrar shall refuse to register such transfer unless it receives either: (i) a certificate from the Certificateholder desiring to effect such transfer substantially in the form attached as Exhibit F-1 to the Agreement, and a certificate from such
Certificateholder’s prospective transferee substantially in the form attached as either Exhibit F-2 or Exhibit F-3 to the Agreement; or (ii) an Opinion of Counsel reasonably satisfactory to the Certificate Registrar to the effect that such transfer may be made without registration under the Securities Act (which Opinion of Counsel shall not be an expense of the Trust Fund or of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar in their respective capacities as such), together with the written certification(s) as to the facts surrounding such transfer from the Certificateholder desiring to effect such transfer and/or such Certificateholder’s prospective transferee on which such Opinion of Counsel is based.  None of the Depositor, the Trustee, Paying Agent or the Certificate Registrar is obligated to register or qualify the Class IO Certificates under the Securities Act or any other securities law or to take any action not

otherwise required under the Agreement to permit the transfer of any Class IO Certificate without registration or qualification.  Any Class IO Certificateholder desiring to effect such a transfer shall, and by the acceptance of its Class IO Certificate agrees to, indemnify the Trustee, the Certificate Registrar, the Paying Agent and the Depositor against any liability that may result if the transfer is not so exempt or is not made in accordance with such federal and state laws.


                    No service charge will be imposed for any registration of transfer or exchange of Class IO Certificates, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of Class IO Certificates.


                    Notwithstanding the foregoing, for so long as this Certificate is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC, transfers of interests in this Certificate shall be made through the book-entry facilities of DTC.


A-29-12-4









                    The Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent and the Certificate Registrar and any agent of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes whatsoever and none of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent, the Certificate Registrar, or any such agent shall be affected by notice to the contrary.


                    The Trust Fund and the obligations created by the Agreement shall terminate upon distribution (or provision for distribution) to the Certificateholders of all amounts held by or on behalf of the Trustee and required to be distributed to them pursuant to the Agreement following the earlier to occur of (i) the final payment (or any advance with respect thereto) or other liquidation of the last Mortgage Loan or REO Property remaining in the Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder at a price determined as provided in the Agreement of all Mortgage Loans and each REO Property remaining in the Trust Fund.  The Agreement permits, but does not require, the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder to purchase from the Trust
Fund all Mortgage Loans and each REO Property remaining therein.  The exercise of such right will effect early retirement of the Class IO Certificates; however, such right to purchase is subject to the aggregate Stated Principal Balance of the Mortgage Pool at the time of purchase being less than 1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date specified on the face hereof.


                    In addition, any exchange by any Certificateholder of all of the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund may be made:  (i) if the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) are held by a single Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-1A, Class A-5FL Regular Interest, Class A-M, Class A-J, Class B, Class C, Class D and Class E Certificates have been paid in full.


                    The Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and obligations of the Depositor, the Master Servicer, the Special Servicer and the Trustee and the rights of the Certificateholders under the Agreement at any time by the Depositor, the Master Servicer, the Special Servicer and the Trustee with the consent of the Holders of Certificates entitled to at least 51% of the Voting Rights allocated to the affected Classes.  Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon this Certificate.  The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to maintain the status of the Trust Fund (or designated portions thereof) as consisting of three separate REMICs and two grantor trusts, without the consent of the Holders of any of the Certificates.


                    Unless the certificate of authentication hereon has been executed by the Certificate Registrar, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.


A-29-12-5









                    The registered Holder hereof, by its acceptance hereof, agrees that it will look solely to the Trust Fund (to the extent of its rights therein) for distributions hereunder.


                    This Certificate shall be construed in accordance with the internal laws of the State of New York applicable to agreements made and to be performed in said State, and the obligations, rights and remedies of the Holder hereof shall be determined in accordance with such laws.


A-29-12-6









                    IN WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed.


Dated:  May 23, 2007

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Certificate Registrar
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
   
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-29-12-7









CERTIFICATE OF AUTHENTICATION


                    This is one of the Class IO Certificates referred to in the within-mentioned Agreement.

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Authenticating Agent
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
   
  	
  
By:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-29-12-8









ASSIGNMENT


                    FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto ________________________________________________________ (please print or typewrite name and address including postal zip code of assignee) the beneficial ownership interest in the Trust Fund evidenced by the within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the registration of transfer of such interest to assignee on the Certificate Register of the Trust Fund.


                    I (we) further direct the Certificate Registrar to issue a new Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and Class to the above named assignee and deliver such Commercial Mortgage Pass-Through Certificate to the following address:  __________________________________________________.


Dated:  _________________________


	
  
 
  	
  


  
	
  
 
  	
  
Signature by or on behalf of Assignor
  
	
  
 
  	
   
 
	
  
 
  	
   
 
	
  
 
  	
   
 
	
  
 
  	
  


  
	
  
 
  	
  
Signature Guaranteed
  




A-29-12-9









DISTRIBUTION INSTRUCTIONS


                    The Assignee should include the following for purposes of distribution:


                    Distributions shall, if permitted, be made by wire transfer or otherwise, in immediately available funds, to _____________________________ for the account of _______________.


                    Distributions made by check (such check to be made payable to _____________________) and all applicable statements and notices should be mailed to _________________________.


                    This information is provided by ________________________________, the Assignee named above, or ____________________________________, as its agent.


A-29-12-10









EXHIBIT A-30


FORM OF CLASS R-I CERTIFICATE


CLASS R-I COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
 SERIES 2007-C31


evidencing a beneficial ownership interest in a trust fund (the “Trust Fund”) consisting primarily of a pool of multifamily and commercial mortgage loans (the “Mortgage Loans”), such pool being formed and sold by


WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

	
  
Date of   Pooling and Servicing Agreement: May 1, 2007
  	
  
 
  	
  
Percentage   Interest evidenced by this Class R-I Certificate: 100%
  
	
  
 
  	
  
 
  	
  
 
  
	
  Closing   Date:  May 23, 2007
  	
  
 
  	
  
Aggregate   Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date:   $5,845,468,231
  
	
  
 
  	
  
 
  	
  
 
  
	
  
First   Distribution Date:  June 15, 2007
  	
  
 
  	
  
Trustee:   Wells Fargo Bank, N.A.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Master   Servicer:  Wachovia Bank, National   Association
  	
  
 
  	
  
Special   Servicer:  LNR Partners, Inc.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Certificate   No. R-I-1
  	
  
 
  	
  
 
  



THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS, INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.  NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.


THIS CERTIFICATE IS SUBORDINATE TO THE CLASS A-1, CLASS A-2, CLASS A-3, CLASS A-PB, CLASS A-4, CLASS A-5, CLASS A-1A, CLASS A-M, CLASS A-J, CLASS B, CLASS C, CLASS D, CLASS E, CLASS F, CLASS G, CLASS H, CLASS J, CLASS K, CLASS L, CLASS M, CLASS N, CLASS O, CLASS P, CLASS Q, CLASS S, CLASS T AND CLASS U CERTIFICATES OF THE SAME SERIES TO THE EXTENT DESCRIBED IN THE AGREEMENT REFERRED TO HEREIN.


THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933 (THE “SECURITIES ACT”) OR THE SECURITIES LAWS OF ANY STATE.  ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR QUALIFICATION MAY BE 


A-30-1









MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION 5.02 OF THE AGREEMENT REFERRED TO HEREIN.


NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST THEREIN SHALL BE MADE TO ANY PERSON WHO IS, OR IS ACTING ON BEHALF OF OR WITH ANY ASSETS OF, ANY EMPLOYEE BENEFIT PLAN SUBJECT TO THE FIDUCIARY DUTY PROVISIONS OF TITLE I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), ANY PLAN TO WHICH SECTION 4975 OF THE CODE APPLIES, OR ANY OTHER PLAN OR ARRANGEMENT SUBJECT TO ANY FEDERAL, STATE, OR LOCAL LAW SUBSTANTIVELY SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE, OR ANY ENTITY DEEMED TO HOLD PLAN ASSETS OF THE FOREGOING BY REASON OF A PLAN’S INVESTMENT IN SUCH ENTITY (EACH, A “PLAN”). EACH PERSON WHO ACQUIRES THIS CERTIFICATE SHALL BE REQUIRED (OR, IN THE CASE OF A BOOK--ENTRY CERTIFICATE, DEEMED) TO HAVE CERTIFIED THAT THE FOREGOING CONDITIONS ARE SATISFIED, AND THAT IT WILL NOT TRANSFER THIS CERTIFICATE IN VIOLATION OF THE FOREGOING.


SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “RESIDUAL INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT” (A “REMIC”) AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE CODE.  CONSEQUENTLY, TRANSFER OF THIS CERTIFICATE IS ALSO SUBJECT TO THE ADDITIONAL TAX RELATED TRANSFER RESTRICTIONS DESCRIBED HEREIN.  IF ANY PERSON BECOMES THE REGISTERED HOLDER OF THIS CERTIFICATE IN VIOLATION OF SUCH TRANSFER RESTRICTIONS, SUCH REGISTRATION SHALL BE DEEMED TO BE OF NO LEGAL FORCE OR EFFECT WHATSOEVER AND SUCH PERSON SHALL NOT BE DEEMED TO BE A CERTIFICATEHOLDER FOR ANY PURPOSE HEREUNDER OR UNDER THE AGREEMENT REFERRED TO HEREIN, INCLUDING, BUT NOT LIMITED TO, THE RECEIPT OF DISTRIBUTIONS ON THIS CERTIFICATE.


                    This certifies that Wachovia Bank, National Association is the registered owner of the Percentage Interest evidenced by this Class R-I Certificate (as specified above) in that certain beneficial ownership interest evidenced by all the Class R-I Certificates in the Trust Fund created pursuant to a Pooling and Servicing Agreement, dated as specified above (the “Agreement”), among Wachovia Commercial Mortgage Securities, Inc. (herein called the “Depositor”, which term includes any successor entity under the Agreement), Wachovia Bank, National Association (herein called the “Master Servicer”, which term includes any successor entity under the Agreement), LNR Partners, Inc. (herein called the “Special Servicer”, which term includes any successor entity under the
Agreement) and Wells Fargo Bank, N.A. (herein called the “Trustee”, which term includes any successor entity under the Agreement), a summary of certain of the pertinent provisions of which is set forth hereafter.  To the extent not defined herein, the capitalized terms used herein have the respective meanings assigned in the Agreement.  This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound.


A-30-2









                    Pursuant to the terms of the Agreement, distributions will be made on the fourth Business Day following the related Determination Date (each, a “Distribution Date”).  The Determination Date is the 11th day of each month or, if such 11th day is not a Business Day, the Business Day immediately succeeding, commencing in June 2007 (each, a “Determination Date”).  Distributions will be made commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the last Business Day of the month immediately preceding the month of such distribution (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount, if any, required to be distributed to the
Holders of the Class R-I Certificates on the applicable Distribution Date pursuant to the Agreement.  All distributions made under the Agreement on this Class R-I Certificate will be made by check mailed to the address of the Person entitled thereto, as such name and address appear in the Certificate Register.  Notwithstanding the foregoing, the final distribution on this Certificate will be made in like manner, but only upon presentation and surrender of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to Certificateholders of such final distribution.


                    The Certificates are limited in right of distribution to certain collections and recoveries respecting the Mortgage Loans and REO Loans, all as more specifically set forth herein and in the Agreement.  As provided in the Agreement, withdrawals from the Certificate Account, the Distribution Account and, if established, the REO Account may be made from time to time for purposes other than, and, in certain cases, prior to, distributions to Certificateholders, such purposes including the reimbursement of Advances made, or certain expenses incurred, with respect to the Mortgage Loans and the payment of interest on such Advances and expenses.


                    The Class R-I Certificates are issuable in fully registered form only without coupons in minimum denominations representing Percentage Interests specified in the Agreement.  As provided in the Agreement and subject to certain limitations therein set forth, Class R-I Certificates are exchangeable for new Class R-I Certificates in authorized denominations evidencing the same aggregate Percentage Interest, as requested by the Holder surrendering the same.


                    As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices of the Certificate Registrar, duly endorsed by, or accompanied by a written instrument of transfer in the form satisfactory to the Certificate Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Class R-I Certificates in authorized denominations evidencing the same aggregate Percentage Interest will be issued to the designated transferee or transferees.


                    No transfer of any Class R-I Certificate shall be made unless that transfer is made pursuant to an effective registration statement under the Securities Act, and effective registration or qualification under applicable state securities laws, or is made in a transaction which does not require such registration or qualification.  If a transfer of any R-I Certificate is to be made 


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without registration under the Securities Act (other than in connection with the initial issuance thereof or the initial transfer thereof by the Depositor or its affiliates), then the Certificate Registrar shall refuse to register such transfer unless it receives either: (i) a certificate from the Certificateholder desiring to effect such transfer substantially in the form attached as Exhibit F-1 to the Agreement, and a certificate from such Certificateholder’s prospective transferee substantially in the form attached as either Exhibit F-2, Exhibit F-3, Exhibit F-4, Exhibit F-5 or Exhibit F-6 to the Agreement; or (ii) an Opinion of Counsel satisfactory to the Certificate Registrar to the effect that such transfer may be made without registration under the Securities Act (which Opinion of Counsel shall not be an expense of the Trust Fund or of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate
Registrar in their respective capacities as such), together with the written certification(s) as to the facts surrounding such transfer from the Certificateholder desiring to effect such transfer and/or such Certificateholder’s prospective transferee on which such Opinion of Counsel is based.  None of the Depositor, the Trustee, the Paying Agent or the Certificate Registrar is obligated to register or qualify the Class R-I Certificates under the Securities Act or any other securities law or to take any action not otherwise required under the Agreement to permit the transfer of any Class R-I Certificate without registration or qualification.  Any Class R-I Certificateholder desiring to effect such a transfer shall, and by the acceptance of its Class R-I Certificate agrees to, indemnify the Trustee, the Certificate Registrar, the Paying Agent and the Depositor against any liability that may result if the transfer is not so exempt or is not made in accordance with
such federal and state laws.


                    No transfer of this Class R-I Certificate or any interest therein shall be made to (A) a Plan or (B) any Person who is directly or indirectly purchasing the Class R-I Certificate or interest therein on behalf of, as named fiduciary of, as trustee of, or with assets of a Plan (including, without limitation, any insurance company using assets in its general or separate account that may constitute assets of a Plan).  As a condition to its registration of transfer of this Class R-I Certificate, the Certificate Registrar shall have the right to require the prospective transferee of such Certificate, if it is not a Plan or Person described in clause (B) of the preceding sentence, to execute a certification to that effect substantially in the form of Exhibit H to the Agreement.


                    This Certificate represents the “residual interest” in REMIC I as defined in the Agreement.  Each Person who has or who acquires any Ownership Interest in this Certificate shall be deemed by the acceptance or acquisition of such Ownership Interest to have agreed to be bound by the provisions of Section 5.02(d) of the Agreement and, if any purported Transferee shall become a Holder of this Certificate in violation of the provisions of such Section 5.02(d), to have irrevocably authorized Wells Fargo Bank, N.A., as paying agent (the “Paying Agent”), under clause (ii)(A) of such Section 5.02(d) to deliver payments to a Person other than such Person and to have irrevocably authorized the Certificate Registrar under clause (ii)(B) of such Section 5.02(d) to negotiate the terms of any mandatory
sale and to execute all instruments of Transfer and to do all other things necessary in connection with any such sale.  Each Person holding or acquiring any Ownership Interest in this Certificate must be a Permitted Transferee and shall promptly notify the Master Servicer, the Paying Agent and the Certificate Registrar of any change or impending change in its status as a Permitted Transferee.  In connection with any proposed Transfer of any Ownership Interest in this Certificate, the Certificate Registrar shall require delivery to it, and shall not register the Transfer of this Certificate until its receipt of, an 


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affidavit and agreement substantially in the form attached as Exhibit H-1 to the Agreement (a “Transfer Affidavit and Agreement”) from the proposed Transferee, in form and substance satisfactory to the Certificate Registrar, representing and warranting, among other things, that such Transferee is a Permitted Transferee, that it is not acquiring its Ownership Interest in this Certificate as a nominee, trustee or agent for any Person that is not a Permitted Transferee, that for so long as it retains its Ownership Interest in this Certificate, it will endeavor to remain a Permitted Transferee, and that it has reviewed the provisions of Section 5.02(d) of the Agreement and agrees to be bound by them.  Notwithstanding the delivery of a Transfer Affidavit and Agreement by a proposed Transferee, if a Responsible Officer of the Certificate Registrar has actual knowledge that the proposed Transferee is not a Permitted Transferee, no Transfer

of an Ownership Interest in this Certificate to such proposed Transferee shall be effected.  The proposed Transferee must also state in the Transfer Affidavit and Agreement that (A) it has historically paid its debts as they have come due and intends to continue to pay its debts as they come due in the future, (B) it understands that it may incur tax liabilities with respect to this certificate in excess of cash flows generated thereby, (C) it intends to pay any taxes associated with holding this certificate as they become due, (D) it will not cause income from this certificate to be attributable to a foreign permanent establishment or fixed base (within the meaning of an applicable income tax treaty) of its own or of any other person and (E) it will not transfer this certificate to any person or entity that does not provide a similar affidavit.  Any purported transfer to a Disqualified Organization or other person that is not a Permitted Transferee or otherwise

in violation of these restrictions shall be absolutely null and void and shall vest no rights in any purported transferee.  If this certificate represents a “non-economic residual interest”, as defined in Treasury Regulations Section 1.860E-1(c), transfers of this certificate may be disregarded for federal income tax purposes.  In order to satisfy a regulatory safe harbor under which such transfers will not be disregarded, the transferor may be required, among other things, to satisfy itself as to the financial condition of the proposed transferee and either to transfer at a minimum price or to an eligible transferee as specified in regulations.


                    Each Person holding or acquiring any Ownership Interest in this Certificate shall agree (x) to require a Transfer Affidavit and Agreement from any other Person to whom such Person attempts to transfer its Ownership Interest herein and (y) not to transfer its Ownership Interest unless it provides to the Certificate Registrar a certificate substantially in the form attached as Exhibit H-2 to the Agreement stating that, among other things, it has no actual knowledge that such other Person is not a Permitted Transferee.  Each Person holding or acquiring an Ownership Interest in this Certificate, by purchasing such Ownership Interest herein, agrees to give the Master Servicer and the Paying Agent written notice that it is a “pass-through interest holder” within the meaning of temporary Treasury Regulation Section
1.67-3T(a)(2)(i)(A) immediately upon acquiring such Ownership Interest, if it is, or is holding such Ownership Interest on behalf of, a “pass-through interest holder”.


                    The provisions of Section 5.02(d) of the Agreement may be modified, added to or eliminated, provided that there shall have been delivered to the Certificate Registrar and the Master Servicer the following: (a) written confirmation from each Rating Agency to the effect that the modification of, addition to or elimination of such provisions will not cause such Rating Agency to qualify, downgrade or withdraw its then-current ratings of any Class of Certificates; and (b) an Opinion of Counsel, in form and substance satisfactory to the Certificate Registrar and the Master Servicer, obtained at the expense of the party seeking such modification of, addition to or elimination of such provisions (but in no event at the expense of the Trust Fund), to the effect that such modification of, addition


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to or elimination of such provisions will not cause the Trust Fund to (x) cease to qualify as two REMICs or (y) be subject to an entity-level tax caused by the transfer of this Class R-I Certificate to a Person which is not a Permitted Transferee, or cause a Person other than the prospective Transferee to be subject to a REMIC-related tax caused by the transfer of this Class R-I Certificate to a Person which is not a Permitted Transferee.


                    A “Permitted Transferee” is any Transferee of a Residual Certificate other than a (i) Disqualified Organization, (ii) a Plan, (iii) a Disqualified Non-United States Person, (iv) a United States Person treated as a partnership for federal income tax purposes, any partner of which, directly or indirectly (except through a U.S. corporation), is (or is permitted under the related partnership agreement to be) a Disqualified Non-United States Person, or (v) a United States Person with respect to whom income on the Residual Certificate is allocable to a foreign permanent establishment or fixed base, within the meaning of an applicable income tax treaty, of such Person or any other United States Person.  A “Disqualified Organization” is any of the following:  (i) the United States or a possession
thereof, any State or any political subdivision thereof, or any agency or instrumentality of any of the foregoing (other than an instrumentality which is a corporation if all of its activities are subject to tax and, except for FHLMC, a majority of its board of directors is not selected by any such governmental unit), (ii) a foreign government, international organization, or any agency or instrumentality of either of the foregoing, (iii) any organization (except certain farmers’ cooperatives described in Section 521 of the Code) which is exempt from the tax imposed by Chapter 1 of the Code (unless such organization is subject to the tax imposed by Section 511 of the Code on unrelated business taxable income), (iv) rural electric and telephone cooperatives described in Section 1381 of the Code or (v) any other Person so designated by the Paying Agent or the Certificate Registrar based upon an Opinion of Counsel (which shall not be an expense of the Paying Agent) that
the holding of an Ownership Interest in a Class R-I Certificate by such Person may cause the Trust Fund or any Person having an Ownership Interest in any Class of Certificates, other than such Person, to incur a liability for any federal tax imposed under the Code that would not otherwise be imposed but for the Transfer of an Ownership Interest in a Class R-I Certificate to such Person.  The terms “United States”, “State” and “international organization” shall have the meanings set forth in Section 7701 of the Code or successor provisions.


                    A “Disqualified Non-United States Person” is any Non-United States Person or agent thereof other than (i) a Non-United States Person that holds this Certificate in connection with the conduct of a trade or business within the United States and has furnished the transferor and the Certificate Registrar with an effective IRS Form W-8ECI (or successor form) or (ii) a Non-United States Person that has delivered to both the transferor and the Certificate Registrar an opinion of a nationally recognized tax counsel to the effect that the transfer of this Certificate to it is in accordance with the requirements of the Code and the regulations promulgated thereunder and that such transfer of this Certificate will not be disregarded for federal income tax purposes.


                    A “Non-United States Person” is any Person other than a United States Person.  A “United States Person” is a citizen or resident of the United States, a corporation or partnership (including an entity treated as a corporation or partnership for federal income tax purposes) created or organized in, or under the laws of, the United States, any State thereof or the District 


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of Columbia unless in the case of a partnership, Treasury Regulations are adopted that provide otherwise, an estate whose income is includable in gross income for United States federal income tax purposes regardless of its source or a trust if a court within the United States is able to exercise primary supervision over the administration of the trust, and one or more United States Persons have the authority to control all substantial decisions of the trust, all within the meaning of Section 7701(a)(30) of the Code (or, to the extent provided in applicable Treasury regulations, certain trusts in existence on August 20, 1996, that are eligible to elect to be treated as United States Persons).


                    No service charge will be imposed for any registration of transfer or exchange of Class R-I Certificates, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of Class R-I Certificates.


                    The Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent and the Certificate Registrar and any agent of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes whatsoever and none of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent, the Certificate Registrar, or any such agent shall be affected by notice to the contrary.


                    The Trust Fund and the obligations created by the Agreement shall terminate upon distribution (or provision for distribution) to the Certificateholders of all amounts held by or on behalf of the Trustee and required to be distributed to them pursuant to the Agreement following the earlier to occur of (i) the final payment (or any advance with respect thereto) or other liquidation of the last Mortgage Loan or REO Property remaining in the Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder at a price determined as provided in the Agreement of all Mortgage Loans and each REO Property remaining in the Trust Fund.  The Agreement permits, but does not require, the Master Servicer, the Special Servicer or the Majority Subordinate
Certificateholder to purchase from the Trust Fund all Mortgage Loans and each REO Property therein.  The exercise of such right will effect early retirement of the Certificates; however, such right to purchase is subject to the aggregate Stated Principal Balance of the Mortgage Pool at the time of purchase being less than 1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date specified on the face hereof.


                    In addition, any exchange by any Certificateholder of all of the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund may be made:  (i) if the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) are held by a single Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-5, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D, Class E, Class F Certificates and Class A-5FL Regular Interest have been paid in full.


                    The Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and obligations of the Depositor, the Master Servicer, the Special Servicer and the Trustee and the rights of the Certificateholders under the Agreement 


A-30-7









at any time by the Depositor, the Master Servicer, the Special Servicer and the Trustee with the consent of the Holders of Certificates entitled to at least 51% of the Voting Rights allocated to the affected Classes.  Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon this Certificate.  The Agreement also permits the amendment thereof, in certain limited circumstances, including any amendment necessary to maintain the status of the Trust Fund (or designated portions thereof) as consisting of two separate REMICs and one grantor trust, without the consent of the Holders of any of the Certificates.


                    Unless the certificate of authentication hereon has been executed by the Certificate Registrar, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.


                    The registered Holder hereof, by its acceptance hereof, agrees that it will look solely to the Trust Fund (to the extent of its rights therein) for distributions hereunder.


                    This Certificate shall be construed in accordance with the internal laws of the State of New York applicable to agreements made and to be performed in said State, and the obligations, rights and remedies of the Holder hereof shall be determined in accordance with such laws.


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                    IN WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed.


Dated:  May 23, 2007

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Certificate Registrar
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
   
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




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CERTIFICATE OF AUTHENTICATION


                    This is one of the Class R-I Certificates referred to in the within-mentioned Agreement.

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Authenticating Agent
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
   
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




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ASSIGNMENT


                    FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto ________________________________________________________ (please print or typewrite name and address including postal zip code of assignee) the beneficial ownership interest in the Trust Fund evidenced by the within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the registration of transfer of such interest to assignee on the Certificate Register of the Trust Fund.


                    I (we) further direct the Certificate Registrar to issue a new Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and Class to the above named assignee and deliver such Commercial Mortgage Pass-Through Certificate to the following address:  __________________________________________________.


Dated:  _________________________

	
   
  	
  


  
	
  
 
  	
  
Signature by or on behalf of Assignor
  
	
  
 
  	
   
 
	
  
 
  	
   
 
	
  
 
  	
   
 
	
  
 
  	
  


  
	
  
 
  	
  
Signature Guaranteed
  




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DISTRIBUTION INSTRUCTIONS


                    The Assignee should include the following for purposes of distribution:


                    Distributions shall, if permitted, be made by wire transfer or otherwise, in immediately available funds, to _____________________________ for the account of _______________.


                    Distributions made by check (such check to be made payable to _____________________) and all applicable statements and notices should be mailed to _________________________.


                    This information is provided by ________________________________, the Assignee named above, or ____________________________________, as its agent.


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EXHIBIT A-31


FORM OF CLASS R-II CERTIFICATE


CLASS R-II COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
 SERIES 2007-C31


evidencing a beneficial ownership interest in a trust fund (the “Trust Fund”) consisting primarily of a pool of multifamily and commercial mortgage loans (the “Mortgage Loans”), such pool being formed and sold by


WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

	
  
Date of   Pooling and Servicing Agreement: May 1, 2007
  	
  
 
  	
  
Percentage   Interest evidenced by this Class R-II Certificate: 100%
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Closing Date:  May 23, 2007
  	
  
 
  	
  
Aggregate   Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date:   $5,845,468,231
  
	
   
  	
  
 
  	
  
 
  
	
  
First   Distribution Date:  June 15, 2007
  	
  
 
  	
  
Trustee:   Wells Fargo Bank, N.A.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Master   Servicer:  Wachovia Bank, National   Association
  	
  
 
  	
  
Special   Servicer:  LNR Partners, Inc.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Certificate   No. R-II-1
  	
  
 
  	
  
 
  




THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS, INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.  NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.


THIS CERTIFICATE IS SUBORDINATE TO THE CLASS A-1, CLASS A-2, CLASS A-3, CLASS A-PB, CLASS A-4, CLASS A-5, CLASS A-1A, CLASS A-M, CLASS A-J, CLASS B, CLASS C, CLASS D, CLASS E, CLASS F, CLASS G, CLASS H, CLASS J, CLASS K, CLASS L, CLASS M, CLASS N, CLASS O, CLASS P, CLASS Q, CLASS S, CLASS T AND CLASS U CERTIFICATES OF THE SAME SERIES TO THE EXTENT DESCRIBED IN THE AGREEMENT REFERRED TO HEREIN.


THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933 (THE “SECURITIES ACT”) OR THE SECURITIES LAWS OF ANY STATE.  ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR QUALIFICATION MAY BE 


A-31-1









MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION 5.02 OF THE AGREEMENT REFERRED TO HEREIN.


NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST THEREIN SHALL BE MADE TO ANY PERSON WHO IS, OR IS ACTING ON BEHALF OF OR WITH ANY ASSETS OF, ANY EMPLOYEE BENEFIT PLAN SUBJECT TO THE FIDUCIARY DUTY PROVISIONS OF TITLE I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), ANY PLAN TO WHICH SECTION 4975 OF THE CODE APPLIES, OR ANY OTHER PLAN OR ARRANGEMENT SUBJECT TO ANY FEDERAL, STATE, OR LOCAL LAW SUBSTANTIVELY SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE, OR ANY ENTITY DEEMED TO HOLD PLAN ASSETS OF THE FOREGOING BY REASON OF A PLAN’S INVESTMENT IN SUCH ENTITY (EACH, A “PLAN”). EACH PERSON WHO ACQUIRES THIS CERTIFICATE SHALL BE REQUIRED (OR, IN THE CASE OF A BOOK--ENTRY CERTIFICATE, DEEMED) TO HAVE CERTIFIED THAT THE FOREGOING CONDITIONS ARE SATISFIED, AND THAT IT WILL NOT TRANSFER THIS CERTIFICATE IN VIOLATION OF THE FOREGOING.


SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “RESIDUAL INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT” (A “REMIC”) AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE CODE.  CONSEQUENTLY, TRANSFER OF THIS CERTIFICATE IS ALSO SUBJECT TO THE ADDITIONAL TAX RELATED TRANSFER RESTRICTIONS DESCRIBED HEREIN.  IF ANY PERSON BECOMES THE REGISTERED HOLDER OF THIS CERTIFICATE IN VIOLATION OF SUCH TRANSFER RESTRICTIONS, SUCH REGISTRATION SHALL BE DEEMED TO BE OF NO LEGAL FORCE OR EFFECT WHATSOEVER AND SUCH PERSON SHALL NOT BE DEEMED TO BE A CERTIFICATEHOLDER FOR ANY PURPOSE HEREUNDER OR UNDER THE AGREEMENT REFERRED TO HEREIN, INCLUDING, BUT NOT LIMITED TO, THE RECEIPT OF DISTRIBUTIONS ON THIS CERTIFICATE.


                    This certifies that Wachovia Bank, National Association is the registered owner of the Percentage Interest evidenced by this Class R-II Certificate (as specified above) in that certain beneficial ownership interest evidenced by all the Class R-II Certificates in the Trust Fund created pursuant to a Pooling and Servicing Agreement, dated as specified above (the “Agreement”), among Wachovia Commercial Mortgage Securities, Inc. (herein called the “Depositor”, which term includes any successor entity under the Agreement), Wachovia Bank, National Association (herein called the “Master Servicer”, which term includes any successor entity under the Agreement), LNR Partners, Inc. (herein called the “Special Servicer”, which term includes any successor entity under the
Agreement) and Wells Fargo Bank, N.A. (herein called the “Trustee”, which term includes any successor entity under the Agreement), a summary of certain of the pertinent provisions of which is set forth hereafter.  To the extent not defined herein, the capitalized terms used herein have the respective meanings assigned in the Agreement.  This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound.


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                    Pursuant to the terms of the Agreement, distributions will be made on the fourth Business Day following the related Determination Date (each, a “Distribution Date”).  The Determination Date is the 11th day of each month or, if such 11th day is not a Business Day, the Business Day immediately succeeding, commencing in June 2007 (each, a “Determination Date”).  Distributions will be made commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the last Business Day of the month immediately preceding the month of such distribution (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount, if any, required to be distributed to the
Holders of the Class R-II Certificates on the applicable Distribution Date pursuant to the Agreement.  All distributions made under the Agreement on this Class R-II Certificate will be made by check mailed to the address of the Person entitled thereto, as such name and address appear in the Certificate Register.  Notwithstanding the foregoing, the final distribution on this Certificate will be made in like manner, but only upon presentation and surrender of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to Certificateholders of such final distribution.


                    The Certificates are limited in right of distribution to certain collections and recoveries respecting the Mortgage Loans and REO Loans, all as more specifically set forth herein and in the Agreement.  As provided in the Agreement, withdrawals from the Certificate Account, the Distribution Account and, if established, the REO Account may be made from time to time for purposes other than, and, in certain cases, prior to, distributions to Certificateholders, such purposes including the reimbursement of Advances made, or certain expenses incurred, with respect to the Mortgage Loans and the payment of interest on such Advances and expenses.


                    The Class R-II Certificates are issuable in fully registered form only without coupons in minimum denominations representing Percentage Interests specified in the Agreement.  As provided in the Agreement and subject to certain limitations therein set forth, Class R-II Certificates are exchangeable for new Class R-II Certificates in authorized denominations evidencing the same aggregate Percentage Interest, as requested by the Holder surrendering the same.


                    As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices of the Certificate Registrar, duly endorsed by, or accompanied by a written instrument of transfer in the form satisfactory to the Certificate Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Class R-II Certificates in authorized denominations evidencing the same aggregate Percentage Interest will be issued to the designated transferee or transferees.


                    No transfer of any Class R-II Certificate shall be made unless that transfer is made pursuant to an effective registration statement under the Securities Act, and effective registration or qualification under applicable state securities laws, or is made in a transaction which does not require such registration or qualification.  If a transfer of any R-II Certificate is to be made 


A-31-3









without registration under the Securities Act (other than in connection with the initial issuance thereof or the initial transfer thereof by the Depositor or its affiliates), then the Certificate Registrar shall refuse to register such transfer unless it receives either: (i) a certificate from the Certificateholder desiring to effect such transfer substantially in the form attached as Exhibit F-1 to the Agreement, and a certificate from such Certificateholder’s prospective transferee substantially in the form attached as either Exhibit F-2, Exhibit F-3, Exhibit F-4, Exhibit F-5 or Exhibit F-6 to the Agreement; or (ii) an Opinion of Counsel satisfactory to the Certificate Registrar to the effect that such transfer may be made without registration under the Securities Act (which Opinion of Counsel shall not be an expense of the Trust Fund or of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate
Registrar in their respective capacities as such), together with the written certification(s) as to the facts surrounding such transfer from the Certificateholder desiring to effect such transfer and/or such Certificateholder’s prospective transferee on which such Opinion of Counsel is based.  None of the Depositor, the Trustee, the Paying Agent or the Certificate Registrar is obligated to register or qualify the Class R-II Certificates under the Securities Act or any other securities law or to take any action not otherwise required under the Agreement to permit the transfer of any Class R-II Certificate without registration or qualification.  Any Class R-II Certificateholder desiring to effect such a transfer shall, and by the acceptance of its Class R-II Certificate agrees to, indemnify the Trustee, the Certificate Registrar, the Paying Agent and the Depositor against any liability that may result if the transfer is not so exempt or is not made in accordance
with such federal and state laws.


                    No transfer of this Class R-II Certificate or any interest therein shall be made to (A) a Plan or (B) any Person who is directly or indirectly purchasing the Class R-II Certificate or interest therein on behalf of, as named fiduciary of, as trustee of, or with assets of a Plan (including, without limitation, any insurance company using assets in its general or separate account that may constitute assets of a Plan).  As a condition to its registration of transfer of this Class R-II Certificate, the Certificate Registrar shall have the right to require the prospective transferee of such Certificate, if it is not a Plan or Person described in clause (B) of the preceding sentence, to execute a certification to that effect substantially in the form of Exhibit H to the Agreement.


                    This Certificate represents the “residual interest” in REMIC II, as defined in the Agreement.  Each Person who has or who acquires any Ownership Interest in this Certificate shall be deemed by the acceptance or acquisition of such Ownership Interest to have agreed to be bound by the provisions of Section 5.02(d) of the Agreement and, if any purported Transferee shall become a Holder of this Certificate in violation of the provisions of such Section 5.02(d), to have irrevocably authorized Wells Fargo Bank, N.A., as paying agent (the “Paying Agent”), under clause (ii)(A) of such Section 5.02(d) to deliver payments to a Person other than such Person and to have irrevocably authorized the Certificate Registrar under clause (ii)(B) of such Section 5.02(d) to negotiate the terms of any
mandatory sale and to execute all instruments of Transfer and to do all other things necessary in connection with any such sale.  Each Person holding or acquiring any Ownership Interest in this Certificate must be a Permitted Transferee and shall promptly notify the Master Servicer, the Paying Agent and the Certificate Registrar of any change or impending change in its status as a Permitted Transferee.  In connection with any proposed Transfer of any Ownership Interest in this Certificate, the Certificate Registrar shall require delivery to it, and shall not register the Transfer of this Certificate until its receipt of, an 


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affidavit and agreement substantially in the form attached as Exhibit H-1 to the Agreement (a “Transfer Affidavit and Agreement”) from the proposed Transferee, in form and substance satisfactory to the Certificate Registrar, representing and warranting, among other things, that such Transferee is a Permitted Transferee, that it is not acquiring its Ownership Interest in this Certificate as a nominee, trustee or agent for any Person that is not a Permitted Transferee, that for so long as it retains its Ownership Interest in this Certificate, it will endeavor to remain a Permitted Transferee, and that it has reviewed the provisions of Section 5.02(d) of the Agreement and agrees to be bound by them.  Notwithstanding the delivery of a Transfer Affidavit and Agreement by a proposed Transferee, if a Responsible Officer of the Certificate Registrar has actual knowledge that the proposed Transferee is not a Permitted Transferee, no Transfer

of an Ownership Interest in this Certificate to such proposed Transferee shall be effected. The proposed Transferee must also state in the Transfer Affidavit and Agreement that (A) it has historically paid its debts as they have come due and intends to continue to pay its debts as they come due in the future, (B) it understands that it may incur tax liabilities with respect to this certificate in excess of cash flows generated thereby, (C) it intends to pay any taxes associated with holding this certificate as they become due, (D) it will not cause income from this certificate to be attributable to a foreign permanent establishment or fixed base (within the meaning of an applicable income tax treaty) of its own or of any other person and (E) it will not transfer this certificate to any person or entity that does not provide a similar affidavit.  Any purported transfer to a Disqualified Organization or other person that is not a Permitted Transferee or otherwise in
violation of these restrictions shall be absolutely null and void and shall vest no rights in any purported transferee.  If this certificate represents a “non-economic residual interest”, as defined in Treasury Regulations Section 1.860E-1(c), transfers of this certificate may be disregarded for federal income tax purposes.  In order to satisfy a regulatory safe harbor under which such transfers will not be disregarded, the transferor may be required, among other things, to satisfy itself as to the financial condition of the proposed transferee and either to transfer at a minimum price or to an eligible transferee as specified in regulations.


                    Each Person holding or acquiring any Ownership Interest in this Certificate shall agree (x) to require a Transfer Affidavit and Agreement from any other Person to whom such Person attempts to transfer its Ownership Interest herein and (y) not to transfer its Ownership Interest unless it provides to the Certificate Registrar a certificate substantially in the form attached as Exhibit H-2 to the Agreement stating that, among other things, it has no actual knowledge that such other Person is not a Permitted Transferee.  Each Person holding or acquiring an Ownership Interest in this Certificate, by purchasing such Ownership Interest herein, agrees to give the Master Servicer and the Paying Agent written notice that it is a “pass-through interest holder” within the meaning of temporary Treasury Regulation Section
1.67-3T(a)(2)(i)(A) immediately upon acquiring such Ownership Interest, if it is, or is holding such Ownership Interest on behalf of, a “pass-through interest holder”.


                    The provisions of Section 5.02(d) of the Agreement may be modified, added to or eliminated, provided that there shall have been delivered to the Certificate Registrar and the Master Servicer the following: (a) written confirmation from each Rating Agency to the effect that the modification of, addition to or elimination of such provisions will not cause such Rating Agency to qualify, downgrade or withdraw its then-current ratings of any Class of Certificates; and (b) an Opinion of Counsel, in form and substance satisfactory to the Certificate Registrar and the Master Servicer, obtained at the expense of the party seeking such modification of, addition 


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to or elimination of such provisions (but in no event at the expense of the Trust Fund), to the effect that such modification of, addition to or elimination of such provisions will not cause the Trust Fund to (x) cease to qualify as two REMICs or (y) be subject to an entity-level tax caused by the Transfer of any Class R-II Certificate to a Person which is not a Permitted Transferee, or cause a Person other than the prospective Transferee to be subject to a REMIC-related tax caused by the transfer of this Class R-II Certificate to a Person which is not a Permitted Transferee.


                    A “Permitted Transferee” is any Transferee of a Residual Certificate other than a (i) Disqualified Organization, (ii) a Plan, (iii) a Disqualified Non-United States Person, (iv) a United States Person treated as a partnership for federal income tax purposes, any partner of which, directly or indirectly (except through a U.S. corporation), is (or is permitted under the related partnership agreement to be) a Disqualified Non-United States Person, or (v) a United States Person with respect to whom income on the Residual Certificate is allocable to a foreign permanent establishment or fixed base, within the meaning of an applicable income tax treaty, of such Person or any other United States Person.  A “Disqualified Organization” is any of the following:  (i) the United States or a possession
thereof, any State or any political subdivision thereof, or any agency or instrumentality of any of the foregoing (other than an instrumentality which is a corporation if all of its activities are subject to tax and, except for FHLMC, a majority of its board of directors is not selected by any such governmental unit), (ii) a foreign government, international organization, or any agency or instrumentality of either of the foregoing, (iii) any organization (except certain farmers’ cooperatives described in Section 521 of the Code) which is exempt from the tax imposed by Chapter 1 of the Code (unless such organization is subject to the tax imposed by Section 511 of the Code on unrelated business taxable income), (iv) rural electric and telephone cooperatives described in Section 1381 of the Code or (v) any other Person so designated by the Paying Agent or the Certificate Registrar based upon an Opinion of Counsel (which shall not be an expense of the Paying Agent) that
the holding of an Ownership Interest in a Class R-II Certificate by such Person may cause the Trust Fund or any Person having an Ownership Interest in any Class of Certificates, other than such Person, to incur a liability for any federal tax imposed under the Code that would not otherwise be imposed but for the Transfer of an Ownership Interest in a Class R-II Certificate to such Person.  The terms “United States”, “State” and “international organization” shall have the meanings set forth in Section 7701 of the Code or successor provisions.


                    A “Disqualified Non-United States Person” is any Non-United States Person or agent thereof other than (i) a Non-United States Person that holds this Certificate in connection with the conduct of a trade or business within the United States and has furnished the transferor and the Certificate Registrar with an effective IRS Form W-8ECI (or successor form) or (ii) a Non-United States Person that has delivered to both the transferor and the Certificate Registrar an opinion of a nationally recognized tax counsel to the effect that the transfer of this Certificate to it is in accordance with the requirements of the Code and the regulations promulgated thereunder and that such transfer of this Certificate will not be disregarded for federal income tax purposes.


                    A “Non-United States Person” is any Person other than a United States Person.  A “United States Person” is a citizen or resident of the United States, a corporation or partnership (including an entity treated as a corporation or partnership for federal income tax purposes) created or organized in, or under the laws of, the United States, any State thereof or the District 


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of Columbia unless in the case of a partnership, Treasury Regulations are adopted that provide otherwise, an estate whose income is includable in gross income for United States federal income tax purposes regardless of its source or a trust if a court within the United States is able to exercise primary supervision over the administration of the trust, and one or more United States Persons have the authority to control all substantial decisions of the trust, all within the meaning of Section 7701(a)(30) of the Code (or, to the extent provided in applicable Treasury regulations, certain trusts in existence on August 20, 1996, that are eligible to elect to be treated as United States Persons).


                    No service charge will be imposed for any registration of transfer or exchange of Class R-II Certificates, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of Class R-II Certificates.


                    The Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent and the Certificate Registrar and any agent of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes whatsoever and none of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent, the Certificate Registrar, or any such agent shall be affected by notice to the contrary.


                    The Trust Fund and the obligations created by the Agreement shall terminate upon distribution (or provision for distribution) to the Certificateholders of all amounts held by or on behalf of the Trustee and required to be distributed to them pursuant to the Agreement following the earlier to occur of (i) the final payment (or any advance with respect thereto) or other liquidation of the last Mortgage Loan or REO Property remaining in the Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder at a price determined as provided in the Agreement of all Mortgage Loans and each REO Property remaining in the Trust Fund.  The Agreement permits, but does not require, the Master Servicer, the Special Servicer or the Majority Subordinate
Certificateholder to purchase from the Trust Fund all Mortgage Loans and each REO Property remaining therein.  The exercise of such right will effect early retirement of the Certificates; however, such right to purchase is subject to the aggregate Stated Principal Balance of the Mortgage Pool at the time of purchase being less than 1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date specified on the face hereof.


                    In addition, any exchange by any Certificateholder of all of the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund may be made:  (i) if the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) are held by a single Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-5, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D, Class E, Class F Certificates and Class A-5FL Regular Interest have been paid in full.


                    The Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and obligations of the Depositor, the Master Servicer, the Special Servicer and the Trustee and the rights of the Certificateholders under the Agreement 


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at any time by the Depositor, the Master Servicer, the Special Servicer and the Trustee with the consent of the Holders of Certificates entitled to at least 51% of the Voting Rights allocated to the affected Classes.  Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon this Certificate.  The Agreement also permits the amendment thereof, in certain limited circumstances, including any amendment necessary to maintain the status of the Trust Fund (or designated portions thereof) as consisting of two separate REMICs and one grantor trust, without the consent of the Holders of any of the Certificates.


                    Unless the certificate of authentication hereon has been executed by the Certificate Registrar, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.


                    The registered Holder hereof, by its acceptance hereof, agrees that it will look solely to the Trust Fund (to the extent of its rights therein) for distributions hereunder.


                    This Certificate shall be construed in accordance with the internal laws of the State of New York applicable to agreements made and to be performed in said State, and the obligations, rights and remedies of the Holder hereof shall be determined in accordance with such laws.


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                    IN WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed.


Dated:  May 23, 2007

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Certificate Registrar
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
   
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




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CERTIFICATE OF AUTHENTICATION


                    This is one of the Class R-II Certificates referred to in the within-mentioned Agreement.

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Authenticating Agent
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
   
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




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ASSIGNMENT


                    FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto ________________________________________________________ (please print or typewrite name and address including postal zip code of assignee) the beneficial ownership interest in the Trust Fund evidenced by the within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the registration of transfer of such interest to assignee on the Certificate Register of the Trust Fund.


                    I (we) further direct the Certificate Registrar to issue a new Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and Class to the above named assignee and deliver such Commercial Mortgage Pass-Through Certificate to the following address:  __________________________________________________.


Dated:  _________________________

	
   
  	
  


  
	
  
 
  	
  
Signature by or on behalf of Assignor
  
	
  
 
  	
   
 
	
  
 
  	
   
 
	
  
 
  	
   
 
	
  
 
  	
  


  
	
  
 
  	
  
Signature Guaranteed
  




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DISTRIBUTION INSTRUCTIONS


                    The Assignee should include the following for purposes of distribution:


                    Distributions shall, if permitted, be made by wire transfer or otherwise, in immediately available funds, to _____________________________ for the account of _______________.


                    Distributions made by check (such check to be made payable to _____________________) and all applicable statements and notices should be mailed to _________________________.


                    This information is provided by ________________________________, the Assignee named above, or ____________________________________, as its agent.


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EXHIBIT A-32


FORM OF CLASS Z CERTIFICATE


CLASS Z COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
 SERIES 2007-C31


evidencing a beneficial ownership interest in a trust fund (the “Trust Fund”) consisting primarily of a pool of multifamily and commercial mortgage loans (the “Mortgage Loans”), such pool being formed and sold by


WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

	
  
Date of   Pooling and Servicing Agreement: May 1, 2007
  	
  
 
  	
  
Percentage   Interest evidenced by this Class Z Certificate: 100%
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Closing   Date:  May 23, 2007
  	
  
 
  	
  
Aggregate   Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date:   $5,845,468,231
  
	
   
  	
  
 
  	
  
 
  
	
  
First   Distribution Date:  June 15, 2007
  	
  
 
  	
  
Trustee:   Wells Fargo Bank, N.A.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Master   Servicer:  Wachovia Bank, National   Association
  	
  
 
  	
  
Special   Servicer:  LNR Partners, Inc.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Certificate   No. Z-1
  	
  
 
  	
  
 
  




THIS CERTIFICATE DOES NOT HAVE A CERTIFICATE PRINCIPAL BALANCE AND WILL NOT ENTITLE THE HOLDER HEREOF TO DISTRIBUTIONS OF PRINCIPAL, BUT IS ENTITLED TO RECEIVE DISTRIBUTIONS OF ADDITIONAL INTEREST AS SET FORTH IN THE AGREEMENT. 


THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS, INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.  NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.


THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933 (THE “SECURITIES ACT”) OR THE SECURITIES LAWS OF ANY STATE.  ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION 5.02 OF THE AGREEMENT REFERRED TO HEREIN.


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NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST THEREIN SHALL BE MADE TO ANY PERSON WHO IS, OR IS ACTING ON BEHALF OF OR WITH ANY ASSETS OF, ANY EMPLOYEE BENEFIT PLAN SUBJECT TO THE FIDUCIARY DUTY PROVISIONS OF TITLE I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), ANY PLAN TO WHICH SECTION 4975 OF THE CODE APPLIES, OR ANY OTHER PLAN OR ARRANGEMENT SUBJECT TO ANY FEDERAL, STATE, OR LOCAL LAW SUBSTANTIVELY SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE, OR ANY ENTITY DEEMED TO HOLD PLAN ASSETS OF THE FOREGOING BY REASON OF A PLAN’S INVESTMENT IN SUCH ENTITY (EACH, A “PLAN”). EACH PERSON WHO ACQUIRES THIS CERTIFICATE SHALL BE REQUIRED (OR, IN THE CASE OF A BOOK--ENTRY CERTIFICATE, DEEMED) TO HAVE CERTIFIED THAT THE FOREGOING CONDITIONS ARE SATISFIED, AND THAT IT WILL NOT TRANSFER THIS CERTIFICATE IN VIOLATION OF THE FOREGOING.


                    This certifies that Cadim TACH inc. is the registered owner of the Percentage Interest evidenced by this Class Z Certificate (as specified above) in that certain beneficial ownership interest evidenced by all the Class Z Certificates in the Trust Fund created pursuant to a Pooling and Servicing Agreement, dated as specified above (the “Agreement”), among Wachovia Commercial Mortgage Securities, Inc. (herein called the “Depositor”, which term includes any successor entity under the Agreement), Wachovia Bank, National Association (herein called the “Master Servicer”, which term includes any successor entity under the Agreement), LNR Partners, Inc. (herein called the “Special Servicer”, which term includes any successor entity under the Agreement) and Wells Fargo
Bank, N.A. (herein called the “Trustee”, which term includes any successor entity under the Agreement), a summary of certain of the pertinent provisions of which is set forth hereafter.  To the extent not defined herein, the capitalized terms used herein have the respective meanings assigned in the Agreement.  This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound.


                    Pursuant to the terms of the Agreement, distributions will be made on the fourth Business Day following the related Determination Date (each, a “Distribution Date”).  The Determination Date is the 11th day of each month or, if such 11th day is not a Business Day, the Business Day immediately succeeding, commencing in June 2007 (each, a “Determination Date”).  Distributions will be made commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the last Business Day of the month immediately preceding the month of such distribution (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount required to be distributed to the Holders of

the Class Z Certificates on the applicable Distribution Date pursuant to the Agreement.  All distributions made under the Agreement on the Class Z Certificates will be made by Wells Fargo Bank, N.A., as paying agent (the “Paying Agent”), by wire transfer of immediately available funds to the account of the 


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Person entitled thereto at a bank or other entity having appropriate facilities therefor, if such Certificateholder shall have provided the Paying Agent with wiring instructions no less than five Business Days prior to the related Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent distributions), or otherwise by check mailed to the address of such Certificateholder as it appears in the Certificate Register.  Notwithstanding the foregoing, the final distribution on this Certificate will be made in like manner, but only upon presentation and surrender of this Certificate at the offices of the Certificate Registrar or such other location specified in the notice to the Holder hereof of such final distribution.


                    The Certificates are limited in right of distribution to certain collections and recoveries of Additional Interest payable on the Mortgage Loans, all as more specifically set forth herein and in the Agreement. 


                    The Class Z Certificates are issuable in fully registered form only without coupons in minimum denominations representing Percentage Interests specified in the Agreement.  As provided in the Agreement and subject to certain limitations therein set forth, Class Z Certificates are exchangeable for new Class Z Certificates in authorized denominations evidencing the same aggregate Percentage Interest, as requested by the Holder surrendering the same.


                    Any distribution to the Holder of this Certificate is binding on such Holder and all future Holders of this Certificate and any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such distribution is made upon this Certificate.


                    As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices of the Certificate Registrar, duly endorsed by, or accompanied by a written instrument of transfer in the form satisfactory to the Certificate Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Class Z Certificates in authorized denominations evidencing the same aggregate Percentage Interest will be issued to the designated transferee or transferees.


                    No transfer of any Class Z Certificate shall be made unless that transfer is made pursuant to an effective registration statement under the Securities Act, and effective registration or qualification under applicable state securities laws, or is made in a transaction which does not require such registration or qualification.  If such a transfer is to be made without registration under the Securities Act (other than in connection with the initial issuance thereof or the initial transfer thereof by the Depositor or its respective affiliates), then the Certificate Registrar shall refuse to register such transfer unless it receives either: (i) a certificate from the Certificateholder desiring to effect such transfer substantially in the form attached as Exhibit F-1 to the Agreement, and a certificate from such Certificateholder’s
prospective transferee substantially in the form attached as either Exhibit F-2, Exhibit F-3, Exhibit F-4, Exhibit F-5 or Exhibit F-6 to the Agreement; or (ii) an Opinion of Counsel reasonably satisfactory to the Certificate Registrar to the effect that such transfer may be made without registration under the Securities Act (which Opinion of Counsel shall not be an expense of the Trust Fund or of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar in their


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respective capacities as such), together with the written certification(s) as to the facts surrounding such transfer from the Certificateholder desiring to effect such transfer and/or such Certificateholder’s prospective transferee on which such Opinion of Counsel is based.  None of the Depositor, the Trustee, the Paying Agent or the Certificate Registrar is obligated to register or qualify the Class Z Certificates under the Securities Act or any other securities law or to take any action not otherwise required under the Agreement to permit the transfer of any Class Z Certificate without registration or qualification.  Any Class Z Certificateholder desiring to effect such a transfer shall, and by the acceptance of its Class Z Certificate agrees to, indemnify the Trustee, the Certificate Registrar, the Paying Agent and the Depositor against any liability that may result if the transfer is not so exempt or is not made in
accordance with such federal and state laws.


                    No service charge will be imposed for any registration of transfer or exchange of Class Z Certificates, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of Class Z Certificates.


                    The Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent and the Certificate Registrar and any agent of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent or the Certificate Registrar may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes whatsoever and none of the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying Agent, the Certificate Registrar, or any such agent shall be affected by notice to the contrary.


                    The Trust Fund and the obligations created by the Agreement shall terminate upon distribution (or provision for distribution) to the Certificateholders of all amounts held by or on behalf of the Trustee and required to be distributed to them pursuant to the Agreement following the earlier to occur of (i) the final payment (or any advance with respect thereto) or other liquidation of the last Mortgage Loan or REO Property remaining in the Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer or the Majority Subordinate Certificateholder at a price determined as provided in the Agreement of all Mortgage Loans and each REO Property remaining in the Trust Fund.  The Agreement permits, but does not require, the Master Servicer, the Special Servicer or the Majority Subordinate
Certificateholder to purchase from the Trust Fund all Mortgage Loans and each REO Property remaining therein.  The exercise of such right will effect early retirement of the Class Z Certificates; however, such right to purchase is subject to the aggregate Stated Principal Balance of the Mortgage Pool at the time of purchase being less than 1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date specified on the face hereof.


                    In addition, any exchange by any Certificateholder of all of the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund may be made:  (i) if the then outstanding Certificates (other than the Class Z, Class R-I and Class R-II Certificates) are held by a single Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4, Class A-5, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D, Class E, Class F Certificates and Class A-5FL Regular Interest have been paid in full.


A-32-4









                    The Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and obligations of the Depositor, the Master Servicer, the Special Servicer and the Trustee and the rights of the Certificateholders under the Agreement at any time by the Depositor, the Master Servicer, the Special Servicer and the Trustee with the consent of the Holders of Certificates entitled to at least 51% of the Voting Rights allocated to the affected Classes.  Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon this Certificate.  The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to maintain the status of the Trust Fund (or designated portions thereof) as consisting of two separate REMICs and one grantor trust, without the consent of the Holders of any of the Certificates.


                    Unless the certificate of authentication hereon has been executed by the Certificate Registrar, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.


                    The registered Holder hereof, by its acceptance hereof, agrees that it will look solely to the Trust Fund (to the extent of its rights therein) for distributions hereunder.


                    This Certificate shall be construed in accordance with the internal laws of the State of New York applicable to agreements made and to be performed in said State, and the obligations, rights and remedies of the Holder hereof shall be determined in accordance with such laws.


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                    IN WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed.


Dated:  May 23,  2007

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Certificate Registrar
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
   
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




A-32-6









CERTIFICATE OF AUTHENTICATION


                    This is one of the Class Z Certificates referred to in the within-mentioned Agreement.

	
  
 
  	
  
Wells Fargo   Bank, N.A., as Authenticating Agent
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
 
  
	
   
  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
Authorized   Representative
  




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ASSIGNMENT


                    FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto ________________________________________________________ (please print or typewrite name and address including postal zip code of assignee) the beneficial ownership interest in the Trust Fund evidenced by the within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the registration of transfer of such interest to assignee on the Certificate Register of the Trust Fund.


                    I (we) further direct the Certificate Registrar to issue a new Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and Class to the above named assignee and deliver such Commercial Mortgage Pass-Through Certificate to the following address:  __________________________________________________.


Dated:  _________________________

	
   
  	
  


  
	
  
 
  	
  
Signature by or on behalf of Assignor
  
	
  
 
  	
   
 
	
  
 
  	
   
 
	
  
 
  	
   
 
	
  
 
  	
  


  
	
  
 
  	
  
Signature Guaranteed
  




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DISTRIBUTION INSTRUCTIONS


                    The Assignee should include the following for purposes of distribution:


                    Distributions shall, if permitted, be made by wire transfer or otherwise, in immediately available funds, to _____________________________ for the account of _______________.


                    Distributions made by check (such check to be made payable to _____________________) and all applicable statements and notices should be mailed to _________________________.


                    This information is provided by ________________________________, the Assignee named above, or ____________________________________, as its agent.

 

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EXHIBIT B


MORTGAGE LOAN SCHEDULE




	
  
Mortgage
   Loan
   Number
  	
   
 	
  
Loan Group
   Number
  	
   
 	
  
Property   Name
  	
   
 	
  
Address
  	
   
 	
  
City
  	
   
 	
  
State
  	
   
 	
  
Zip Code
  	
   
 	
  
County
  
	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  
	
  1
  	
   
 	
  
1
  	
  
 
  	
  
Five Times Square(1)(2)
  	
  
 
  	
  
Five Times Square
  	
  
 
  	
  
New York
  	
  
 
  	
  
NY
  	
   
 	
  
10036
  	
  
 
  	
  
New York
  
	
  2
  	
   
 	
  
1
  	
  
 
  	
  
Beacon D.C. & Seattle   Pool(1)
  	
  
 
  	
  
Various
  	
  
 
  	
  
Various
  	
  
 
  	
  
Various
  	
   
 	
  
Various
  	
  
 
  	
  
Various
  
	
  
2.01
  	
   
 	
   
 	
  
 
  	
  
Market Square
  	
  
 
  	
  
701, 801 Pennsylvania   Avenue NW
  	
  
 
  	
  
Washington
  	
  
 
  	
  
DC
  	
   
 	
  
20004
  	
  
 
  	
  
District Of Columbia
  
	
  2.02
  	
   
 	
   
 	
  
 
  	
  
Polk & Taylor Buildings
  	
  
 
  	
  
2521 S Clark Street &   2530 Crystal Drive
  	
  
 
  	
  
Arlington
  	
  
 
  	
  
VA
  	
   
 	
  
22202
  	
  
 
  	
  
Arlington
  
	
  
2.03
  	
   
 	
   
 	
  
 
  	
  
Wells Fargo Center
  	
  
 
  	
  
999 Third Avenue
  	
  
 
  	
  
Seattle
  	
  
 
  	
  
WA
  	
   
 	
  
98104
  	
  
 
  	
  
King
  
	
  2.04
  	
   
 	
   
 	
  
 
  	
  
One, Two & Three   Lafayette Centre
  	
  
 
  	
  
1120 20th Street NW; 1155   21st Street NW; 1133 21st Street NW
  	
  
 
  	
  
Washington
  	
  
 
  	
  
DC
  	
   
 	
  
20036
  	
  
 
  	
  
District of Columbia
  
	
  
2.05
  	
   
 	
   
 	
  
 
  	
  
Booz Allen Complex
  	
  
 
  	
  
8251 Greensboro Drive; 8281   Greensboro Drive; 8283 Greensboro Drive
  	
  
 
  	
  
Mc Lean
  	
  
 
  	
  
VA
  	
   
 	
  
22102
  	
  
 
  	
  
Fairfax
  
	
  2.06
  	
   
 	
   
 	
  
 
  	
  
Key Center
  	
  
 
  	
  
601 108th Avenue NE
  	
  
 
  	
  
Bellevue
  	
  
 
  	
  
WA
  	
   
 	
  
98004
  	
  
 
  	
  
King
  
	
  
2.07
  	
   
 	
   
 	
  
 
  	
  
Sunset North
  	
  
 
  	
  
3060-3180, 139th Avenue SE
  	
  
 
  	
  
Bellevue
  	
  
 
  	
  
WA
  	
   
 	
  
98005
  	
  
 
  	
  
King
  
	
  2.08
  	
   
 	
   
 	
  
 
  	
  
City Center Bellevue
  	
  
 
  	
  
500 108th Avenue NE
  	
  
 
  	
  
Bellevue
  	
  
 
  	
  
WA
  	
   
 	
  
98004
  	
  
 
  	
  
King
  
	
  
2.09
  	
   
 	
   
 	
  
 
  	
  
Plaza Center and US Bank   Tower
  	
  
 
  	
  
10800 and 10900 NE 8th   Street
  	
  
 
  	
  
Bellevue
  	
  
 
  	
  
WA
  	
   
 	
  
98004
  	
  
 
  	
  
King
  
	
  2.10
  	
   
 	
   
 	
  
 
  	
  
1616 Fort Myer Drive
  	
  
 
  	
  
1616 Fort Myer Drive
  	
  
 
  	
  
Arlington
  	
  
 
  	
  
VA
  	
   
 	
  
22209
  	
  
 
  	
  
Arlington
  
	
  
2.11
  	
   
 	
   
 	
  
 
  	
  
American Center
  	
  
 
  	
  
8300 & 8330 Boone   Boulevard
  	
  
 
  	
  
Vienna
  	
  
 
  	
  
VA
  	
   
 	
  
22182
  	
  
 
  	
  
Fairfax
  
	
  2.12
  	
   
 	
   
 	
  
 
  	
  
Eastgate Office Park
  	
  
 
  	
  
15325 SE 30th Place
  	
  
 
  	
  
Bellevue
  	
  
 
  	
  
WA
  	
   
 	
  
98007
  	
  
 
  	
  
King
  
	
  
2.13
  	
   
 	
   
 	
  
 
  	
  
Liberty Place
  	
  
 
  	
  
325 7th Street NW
  	
  
 
  	
  
Washington
  	
  
 
  	
  
DC
  	
   
 	
  
20004
  	
  
 
  	
  
District Of Columbia
  
	
  2.14
  	
   
 	
   
 	
  
 
  	
  
Lincoln Executive Center   Buildings I, II, III, A&B
  	
  
 
  	
  
3380 146th Place Southeast,   14332 Southeast Eastgate Way, 3245 146th Place Southeast; 3290 and 3310 146th   Place Southeast
  	
  
 
  	
  
Bellevue
  	
  
 
  	
  
WA
  	
   
 	
  
98007
  	
  
 
  	
  
King
  
	
  
2.15
  	
   
 	
   
 	
  
 
  	
  
11111 Sunset Hills Road
  	
  
 
  	
  
11111 Sunset Hills Road
  	
  
 
  	
  
Reston
  	
  
 
  	
  
VA
  	
   
 	
  
20190
  	
  
 
  	
  
Fairfax
  
	
  2.16
  	
   
 	
   
 	
  
 
  	
  
Army and Navy Club Building
  	
  
 
  	
  
1627 I Street NW
  	
  
 
  	
  
Washington
  	
  
 
  	
  
DC
  	
   
 	
  
20006
  	
  
 
  	
  
District Of Columbia
  
	
  
2.17
  	
   
 	
   
 	
  
 
  	
  
Plaza East
  	
  
 
  	
  
11100 NE 8th Street
  	
  
 
  	
  
Bellevue
  	
  
 
  	
  
WA
  	
   
 	
  
98004
  	
  
 
  	
  
King
  
	
  2.18
  	
   
 	
   
 	
  
 
  	
  
Reston Town Center
  	
  
 
  	
  
11911 Freedom Drive
  	
  
 
  	
  
Reston
  	
  
 
  	
  
VA
  	
   
 	
  
20190
  	
  
 
  	
  
Fairfax
  
	
  
2.19
  	
   
 	
   
 	
  
 
  	
  
1300 North Seventeenth   Street
  	
  
 
  	
  
1300 North 17th Street
  	
  
 
  	
  
Arlington
  	
  
 
  	
  
VA
  	
   
 	
  
22209
  	
  
 
  	
  
Arlington
  
	
  2.20
  	
   
 	
   
 	
  
 
  	
  
Washington Mutual Tower
  	
  
 
  	
  
1201 Third Avenue
  	
  
 
  	
  
Seattle
  	
  
 
  	
  
WA
  	
   
 	
  
98101
  	
  
 
  	
  
King
  
	
  
3
  	
   
 	
  
1
  	
  
 
  	
  
666 Fifth Avenue(1)
  	
  
 
  	
  
666 Fifth Avenue
  	
  
 
  	
  
New York
  	
  
 
  	
  
NY
  	
   
 	
  
10103
  	
  
 
  	
  
New York
  
	
  4
  	
   
 	
  
1
  	
  
 
  	
  
Mall at Rockingham Park
  	
  
 
  	
  
99 Rockingham Park   Boulevard
  	
  
 
  	
  
Salem
  	
  
 
  	
  
NH
  	
   
 	
  
03079
  	
  
 
  	
  
Rockingham
  
	
  
5
  	
   
 	
  
2
  	
  
 
  	
  
Peter Cooper Village &   Stuyvesant Town Pool(1)
  	
  
 
  	
  
Various
  	
  
 
  	
  
New York
  	
  
 
  	
  
NY
  	
   
 	
  
Various
  	
  
 
  	
  
New York
  
	
  5.01
  	
   
 	
   
 	
  
 
  	
  
Stuyvesant Town
  	
  
 
  	
  
317 Avenue C (General   Management Office); Various Others
  	
  
 
  	
  
New York
  	
  
 
  	
  
NY
  	
   
 	
  
10009
  	
  
 
  	
  
New York
  
	
  
5.02
  	
   
 	
   
 	
  
 
  	
  
Peter Cooper Village
  	
  
 
  	
  
4 Peter Cooper Road   (Security Office); Various Others
  	
  
 
  	
  
New York
  	
  
 
  	
  
NY
  	
   
 	
  
10016
  	
  
 
  	
  
New York
  
	
  6
  	
   
 	
  
1
  	
  
 
  	
  
Hyatt Regency Grand Cypress
  	
  
 
  	
  
One Grand Cypress Boulevard
  	
  
 
  	
  
Orlando
  	
  
 
  	
  
FL
  	
   
 	
  
32836
  	
  
 
  	
  
Orange
  
	
  
7
  	
   
 	
  
1
  	
  
 
  	
  
Boston Marriott Long Wharf(4)
  	
  
 
  	
  
296 State Street
  	
  
 
  	
  
Boston
  	
  
 
  	
  
MA
  	
   
 	
  
02109
  	
  
 
  	
  
Suffolk
  
	
  8
  	
   
 	
  
1
  	
  
 
  	
  
Ashford Hospitality Pool 3
  	
  
 
  	
  
Various
  	
  
 
  	
  
Various
  	
  
 
  	
  
Various
  	
   
 	
  
Various
  	
  
 
  	
  
Various
  
	
  
8.01
  	
   
 	
   
 	
  
 
  	
  
Courtyard - San Francisco,   CA
  	
  
 
  	
  
299 Second Street
  	
  
 
  	
  
San Francisco
  	
  
 
  	
  
CA
  	
   
 	
  
94105
  	
  
 
  	
  
San Francisco
  
	
  8.02
  	
   
 	
   
 	
  
 
  	
  
Courtyard - Seattle, WA
  	
  
 
  	
  
925 Westlake Avenue North
  	
  
 
  	
  
Seattle
  	
  
 
  	
  
WA
  	
   
 	
  
98109
  	
  
 
  	
  
King
  
	
  
9
  	
   
 	
  
1
  	
  
 
  	
  
Ashford Hospitality Pool 2
  	
  
 
  	
  
Various
  	
  
 
  	
  
Various
  	
  
 
  	
  
Various
  	
   
 	
  
Various
  	
  
 
  	
  
Various
  
	
  9.01
  	
   
 	
   
 	
  
 
  	
  
Residence Inn - Phoenix ,   AZ
  	
  
 
  	
  
801 North 44th Street
  	
  
 
  	
  
Phoenix
  	
  
 
  	
  
AZ
  	
   
 	
  
85008
  	
  
 
  	
  
Maricopa
  
	
  
9.02
  	
   
 	
   
 	
  
 
  	
  
SpringHill Suites -   Hawthorne, CA
  	
  
 
  	
  
14620 Aviation Boulevard
  	
  
 
  	
  
Hawthorne
  	
  
 
  	
  
CA
  	
   
 	
  
90250
  	
  
 
  	
  
Los Angeles
  
	
  9.03
  	
   
 	
   
 	
  
 
  	
  
Towne Place Suites -   Hawthorne, CA
  	
  
 
  	
  
14400 Aviation Boulevard
  	
  
 
  	
  
Hawthorne
  	
  
 
  	
  
CA
  	
   
 	
  
90250
  	
  
 
  	
  
Los Angeles
  
	
  
9.04
  	
   
 	
   
 	
  
 
  	
  
SpringHill Suites -   Plymouth Meeting, PA
  	
  
 
  	
  
430 Plymouth Road
  	
  
 
  	
  
Plymouth Meeting
  	
  
 
  	
  
PA
  	
   
 	
  
19462
  	
  
 
  	
  
Montgomery
  
	
  9.05
  	
   
 	
   
 	
  
 
  	
  
SpringHill Suites - Glen   Allen, VA
  	
  
 
  	
  
9701 Brook Road
  	
  
 
  	
  
Glen Allen
  	
  
 
  	
  
VA
  	
   
 	
  
23059
  	
  
 
  	
  
Henrico
  
	
  
9.06
  	
   
 	
   
 	
  
 
  	
  
Residence Inn - Plano, TX
  	
  
 
  	
  
5001 Whitestone Lane
  	
  
 
  	
  
Plano
  	
  
 
  	
  
TX
  	
   
 	
  
75024
  	
  
 
  	
  
Collin
  
	
  9.07
  	
   
 	
   
 	
  
 
  	
  
Residence Inn - Newark, CA
  	
  
 
  	
  
35466 Dumbarton Court
  	
  
 
  	
  
Newark
  	
  
 
  	
  
CA
  	
   
 	
  
94560
  	
  
 
  	
  
Alameda
  
	
  
10
  	
   
 	
  
1
  	
  
 
  	
  
Los Angeles International   Jewelry Center (5)
  	
  
 
  	
  
550 South Hill Street
  	
  
 
  	
  
Los Angeles
  	
  
 
  	
  
CA
  	
   
 	
  
90013
  	
  
 
  	
  
Los Angeles
  
	
  11
  	
   
 	
  
1
  	
  
 
  	
  
Lembi Pool
  	
  
 
  	
  
Various
  	
  
 
  	
  
San Francisco
  	
  
 
  	
  
CA
  	
   
 	
  
Various
  	
  
 
  	
  
San Francisco
  
	
  
11.01
  	
   
 	
   
 	
  
 
  	
  
300 Buchanan Street
  	
  
 
  	
  
300 Buchanan Street
  	
  
 
  	
  
San Francisco
  	
  
 
  	
  
CA
  	
   
 	
  
94102
  	
  
 
  	
  
San Francisco
  
	
  11.02
  	
   
 	
   
 	
  
 
  	
  
536 Leavenworth Street
  	
  
 
  	
  
536 Leavenworth Street
  	
  
 
  	
  
San Francisco
  	
  
 
  	
  
CA
  	
   
 	
  
94109
  	
  
 
  	
  
San Francisco
  
	
  
11.03
  	
   
 	
   
 	
  
 
  	
  
210-218 Church Street
  	
  
 
  	
  
210-218 Church Street
  	
  
 
  	
  
San Francisco
  	
  
 
  	
  
CA
  	
   
 	
  
94114
  	
  
 
  	
  
San Francisco
  
	
  11.04
  	
   
 	
   
 	
  
 
  	
  
1405 Franklin Street
  	
  
 
  	
  
1405 Franklin Street
  	
  
 
  	
  
San Francisco
  	
  
 
  	
  
CA
  	
   
 	
  
94109
  	
  
 
  	
  
San Francisco
  
	
  
11.05
  	
   
 	
   
 	
  
 
  	
  
610 Leavenworth Street
  	
  
 
  	
  
610 Leavenworth Street
  	
  
 
  	
  
San Francisco
  	
  
 
  	
  
CA
  	
   
 	
  
94109
  	
  
 
  	
  
San Francisco
  
	
  11.06
  	
   
 	
   
 	
  
 
  	
  
350 Judah Street
  	
  
 
  	
  
350 Judah Street
  	
  
 
  	
  
San Francisco
  	
  
 
  	
  
CA
  	
   
 	
  
94122
  	
  
 
  	
  
San Francisco
  
	
  
11.07
  	
   
 	
   
 	
  
 
  	
  
2080 Gough Street
  	
  
 
  	
  
2080 Gough Street
  	
  
 
  	
  
San Francisco
  	
  
 
  	
  
CA
  	
   
 	
  
94114
  	
  
 
  	
  
San Francisco
  
	
  11.08
  	
   
 	
   
 	
  
 
  	
  
455 Hyde Street
  	
  
 
  	
  
455 Hyde Street
  	
  
 
  	
  
San Francisco
  	
  
 
  	
  
CA
  	
   
 	
  
94109
  	
  
 
  	
  
San Francisco
  
	
  
11.09
  	
   
 	
   
 	
  
 
  	
  
1035 Sutter Street
  	
  
 
  	
  
1035 Sutter Street
  	
  
 
  	
  
San Francisco
  	
  
 
  	
  
CA
  	
   
 	
  
94109
  	
  
 
  	
  
San Francisco
  
	
  11.10
  	
   
 	
   
 	
  
 
  	
  
969 Bush Street
  	
  
 
  	
  
969 Bush Street
  	
  
 
  	
  
San Francisco
  	
  
 
  	
  
CA
  	
   
 	
  
94109
  	
  
 
  	
  
San Francisco
  
	
  
11.11
  	
   
 	
   
 	
  
 
  	
  
345 Fulton Street
  	
  
 
  	
  
345 Fulton Street
  	
  
 
  	
  
San Francisco
  	
  
 
  	
  
CA
  	
   
 	
  
94102
  	
  
 
  	
  
San Francisco
  
	
  11.12
  	
   
 	
   
 	
  
 
  	
  
516 Ellis Street
  	
  
 
  	
  
516 Ellis Street
  	
  
 
  	
  
San Francisco
  	
  
 
  	
  
CA
  	
   
 	
  
94109
  	
  
 
  	
  
San Francisco
  
	
  
11.13
  	
   
 	
   
 	
  
 
  	
  
721 Geary Street
  	
  
 
  	
  
721 Geary Street
  	
  
 
  	
  
San Francisco
  	
  
 
  	
  
CA
  	
   
 	
  
94109
  	
  
 
  	
  
San Francisco
  
	
  11.14
  	
   
 	
   
 	
  
 
  	
  
11 Dolores Street
  	
  
 
  	
  
11 Dolores Street
  	
  
 
  	
  
San Francisco
  	
  
 
  	
  
CA
  	
   
 	
  
94103
  	
  
 
  	
  
San Francisco
  
	
  
11.15
  	
   
 	
   
 	
  
 
  	
  
2335 Larkin Street
  	
  
 
  	
  
2335 Larkin Street
  	
  
 
  	
  
San Francisco
  	
  
 
  	
  
CA
  	
   
 	
  
94109
  	
  
 
  	
  
San Francisco
  
	
  11.16
  	
   
 	
   
 	
  
 
  	
  
3875 18th Street
  	
  
 
  	
  
3875 18th Street
  	
  
 
  	
  
San Francisco
  	
  
 
  	
  
CA
  	
   
 	
  
94114
  	
  
 
  	
  
San Francisco
  
	
  
11.17
  	
   
 	
   
 	
  
 
  	
  
1025 Sutter Street
  	
  
 
  	
  
1025 Sutter Street
  	
  
 
  	
  
San Francisco
  	
  
 
  	
  
CA
  	
   
 	
  
94109
  	
  
 
  	
  
San Francisco
  
	
  11.18
  	
   
 	
   
 	
  
 
  	
  
828 Jones Street
  	
  
 
  	
  
828 Jones Street
  	
  
 
  	
  
San Francisco
  	
  
 
  	
  
CA
  	
   
 	
  
94109
  	
  
 
  	
  
San Francisco
  
	
  
11.19
  	
   
 	
   
 	
  
 
  	
  
240 Church Street
  	
  
 
  	
  
240 Church Street
  	
  
 
  	
  
San Francisco
  	
  
 
  	
  
CA
  	
   
 	
  
94114
  	
  
 
  	
  
San Francisco
  
	
  11.20
  	
   
 	
   
 	
  
 
  	
  
735 O’Farrell Street
  	
  
 
  	
  
735 O’Farrell Street
  	
  
 
  	
  
San Francisco
  	
  
 
  	
  
CA
  	
   
 	
  
94109
  	
  
 
  	
  
San Francisco
  
	
  
11.21
  	
   
 	
   
 	
  
 
  	
  
2337-2339 Market Street
  	
  
 
  	
  
2337-2339 Market Street
  	
  
 
  	
  
San Francisco
  	
  
 
  	
  
CA
  	
   
 	
  
94114
  	
  
 
  	
  
San Francisco
  
	
  11.22
  	
   
 	
   
 	
  
 
  	
  
635 Ellis Street
  	
  
 
  	
  
635 Ellis Street
  	
  
 
  	
  
San Francisco
  	
  
 
  	
  
CA
  	
   
 	
  
94109
  	
  
 
  	
  
San Francisco
  
	
  
11.23
  	
   
 	
   
 	
  
 
  	
  
215-219 Church Street
  	
  
 
  	
  
215-219 Church Street
  	
  
 
  	
  
San Francisco
  	
  
 
  	
  
CA
  	
   
 	
  
94114
  	
  
 
  	
  
San Francisco
  
	
  11.24
  	
   
 	
   
 	
  
 
  	
  
1385 Kansas Street
  	
  
 
  	
  
1385 Kansas Street
  	
  
 
  	
  
San Francisco
  	
  
 
  	
  
CA
  	
   
 	
  
94107
  	
  
 
  	
  
San Francisco
  
	
  
11.25
  	
   
 	
   
 	
  
 
  	
  
747 Ellis Street
  	
  
 
  	
  
747 Ellis Street
  	
  
 
  	
  
San Francisco
  	
  
 
  	
  
CA
  	
   
 	
  
94109
  	
  
 
  	
  
San Francisco
  
	
  11.26
  	
   
 	
   
 	
  
 
  	
  
631 Larkin Street
  	
  
 
  	
  
631 Larkin Street
  	
  
 
  	
  
San Francisco
  	
  
 
  	
  
CA
  	
   
 	
  
94109
  	
  
 
  	
  
San Francisco
  
	
  
11.27
  	
   
 	
   
 	
  
 
  	
  
601 Larkin Street
  	
  
 
  	
  
601 Larkin Street
  	
  
 
  	
  
San Francisco
  	
  
 
  	
  
CA
  	
   
 	
  
94109
  	
  
 
  	
  
San Francisco
  










	

Mortgage
   Loan
   Number
  	
   
 	
  
Loan Group
   Number
  	
   
 	
  
Property   Name
  	
   
 	
  
Cut-Off   Date
   Loan Balance ($)
  	
   
 	
  
Monthly   P&I
   Payments ($)
  	
   
 	
  
Grace Days
  	
   
 	
  
Mortgage   Rate (%)
  	
   
 	
  
Number of   Units
  
	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  
	
  1
  	
   
 	
  
1
  	
  
 
  	
  
Five Times Square(1)(2)
  	
  
 
  	
  
536,000,000.00
  	
   
 	
  
IO
  	
   
 	
   
 	
   
 	
  
5.423125%
  	
   
 	
  
1,101,779
  
	
  2
  	
   
 	
  
1
  	
  
 
  	
  
Beacon D.C. & Seattle   Pool(1)
  	
  
 
  	
  
414,000,000.00
  	
   
 	
  
IO
  	
   
 	
   
 	
   
 	
  
5.7970%
  	
   
 	
  
9,848,341
  
	
  
2.01
  	
   
 	
   
 	
  
 
  	
  
Market Square
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
678,348
  
	
  2.02
  	
   
 	
   
 	
  
 
  	
  
Polk & Taylor Buildings
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
904,226
  
	
  
2.03
  	
   
 	
   
 	
  
 
  	
  
Wells Fargo Center
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
944,141
  
	
  2.04
  	
   
 	
   
 	
  
 
  	
  
One, Two & Three   Lafayette Centre
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
711,495
  
	
  
2.05
  	
   
 	
   
 	
  
 
  	
  
Booz Allen Complex
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
731,234
  
	
  2.06
  	
   
 	
   
 	
  
 
  	
  
Key Center
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
473,988
  
	
  
2.07
  	
   
 	
   
 	
  
 
  	
  
Sunset North
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
463,182
  
	
  2.08
  	
   
 	
   
 	
  
 
  	
  
City Center Bellevue
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
465,765
  
	
  
2.09
  	
   
 	
   
 	
  
 
  	
  
Plaza Center and US Bank   Tower
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
466,948
  
	
  2.10
  	
   
 	
   
 	
  
 
  	
  
1616 Fort Myer Drive
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
294,521
  
	
  
2.11
  	
   
 	
   
 	
  
 
  	
  
American Center
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
329,695
  
	
  2.12
  	
   
 	
   
 	
  
 
  	
  
Eastgate Office Park
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
251,088
  
	
  
2.13
  	
   
 	
   
 	
  
 
  	
  
Liberty Place
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
163,936
  
	
  2.14
  	
   
 	
   
 	
  
 
  	
  
Lincoln Executive Center   Buildings I, II, III, A&B
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
277,672
  
	
  
2.15
  	
   
 	
   
 	
  
 
  	
  
11111 Sunset Hills Road
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
216,469
  
	
  2.16
  	
   
 	
   
 	
  
 
  	
  
Army and Navy Club Building
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
102,822
  
	
  
2.17
  	
   
 	
   
 	
  
 
  	
  
Plaza East
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
148,952
  
	
  2.18
  	
   
 	
   
 	
  
 
  	
  
Reston Town Center
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
764,103
  
	
  
2.19
  	
   
 	
   
 	
  
 
  	
  
1300 North Seventeenth   Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
380,743
  
	
  2.20
  	
   
 	
   
 	
  
 
  	
  
Washington Mutual Tower
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
1,079,013
  
	
  
3
  	
   
 	
  
1
  	
  
 
  	
  
666 Fifth Avenue(1)
  	
  
 
  	
  
395,000,000.00
  	
   
 	
  
IO
  	
   
 	
   
 	
   
 	
  
6.3530%
  	
   
 	
  
1,454,110
  
	
  4
  	
   
 	
  
1
  	
  
 
  	
  
Mall at Rockingham Park
  	
  
 
  	
  
260,000,000.00
  	
   
 	
  
IO
  	
   
 	
   
 	
   
 	
  
5.6100%
  	
   
 	
  
382,012
  
	
  
5
  	
   
 	
  
2
  	
  
 
  	
  
Peter Cooper Village &   Stuyvesant Town Pool(1)
  	
  
 
  	
  
247,727,272.72
  	
   
 	
  
IO
  	
   
 	
  
0   default, 5 late
  	
   
 	
  
6.4340%
  	
   
 	
  
11,227
  
	
  5.01
  	
   
 	
   
 	
  
 
  	
  
Stuyvesant Town
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
8,746
  
	
  
5.02
  	
   
 	
   
 	
  
 
  	
  
Peter Cooper Village
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
2,481
  
	
  6
  	
   
 	
  
1
  	
  
 
  	
  
Hyatt Regency Grand Cypress
  	
  
 
  	
  
199,757,745.13
  	
   
 	
  
1,193,921.54
  	
   
 	
   
 	
   
 	
  
5.7100%
  	
   
 	
  
750
  
	
  
7
  	
   
 	
  
1
  	
  
 
  	
  
Boston Marriott Long Wharf(4)
  	
  
 
  	
  
176,000,000.00
  	
   
 	
  
IO
  	
   
 	
   
 	
   
 	
  
5.5800%
  	
   
 	
  
402
  
	
  8
  	
   
 	
  
1
  	
  
 
  	
  
Ashford Hospitality Pool 3
  	
  
 
  	
  
128,408,000.00
  	
   
 	
  
765,940.09
  	
   
 	
   
 	
   
 	
  
5.9523333333%
  	
   
 	
  
655
  
	
  
8.01
  	
   
 	
   
 	
  
 
  	
  
Courtyard - San Francisco,   CA
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
405
  
	
  8.02
  	
   
 	
   
 	
  
 
  	
  
Courtyard - Seattle, WA
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
250
  
	
  
9
  	
   
 	
  
1
  	
  
 
  	
  
Ashford Hospitality Pool 2
  	
  
 
  	
  
126,466,000.00
  	
   
 	
  
754,356.27
  	
   
 	
   
 	
   
 	
  
5.9523333333%
  	
   
 	
  
1,137
  
	
  9.01
  	
   
 	
   
 	
  
 
  	
  
Residence Inn - Phoenix ,   AZ
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
200
  
	
  
9.02
  	
   
 	
   
 	
  
 
  	
  
SpringHill Suites -   Hawthorne, CA
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
164
  
	
  9.03
  	
   
 	
   
 	
  
 
  	
  
Towne Place Suites -   Hawthorne, CA
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
144
  
	
  
9.04
  	
   
 	
   
 	
  
 
  	
  
SpringHill Suites -   Plymouth Meeting, PA
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
199
  
	
  9.05
  	
   
 	
   
 	
  
 
  	
  
SpringHill Suites - Glen   Allen, VA
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
136
  
	
  
9.06
  	
   
 	
   
 	
  
 
  	
  
Residence Inn - Plano, TX
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
126
  
	
  9.07
  	
   
 	
   
 	
  
 
  	
  
Residence Inn - Newark, CA
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
168
  
	
  
10
  	
   
 	
  
1
  	
  
 
  	
  
Los Angeles International   Jewelry Center (5)
  	
  
 
  	
  
124,400,000.00
  	
   
 	
  
714,311.15
  	
   
 	
   
 	
   
 	
  
5.6020%
  	
   
 	
  
369,853
  
	
  11
  	
   
 	
  
1
  	
  
 
  	
  
Lembi Pool
  	
  
 
  	
  
122,500,000.00
  	
   
 	
  
IO
  	
   
 	
   
 	
   
 	
  
6.4700%
  	
   
 	
  
Various
  
	
  
11.01
  	
   
 	
   
 	
  
 
  	
  
300 Buchanan Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
60
  
	
  11.02
  	
   
 	
   
 	
  
 
  	
  
536 Leavenworth Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
62
  
	
  
11.03
  	
   
 	
   
 	
  
 
  	
  
210-218 Church Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
16
  
	
  11.04
  	
   
 	
   
 	
  
 
  	
  
1405 Franklin Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
37
  
	
  
11.05
  	
   
 	
   
 	
  
 
  	
  
610 Leavenworth Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
28
  
	
  11.06
  	
   
 	
   
 	
  
 
  	
  
350 Judah Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
30
  
	
  
11.07
  	
   
 	
   
 	
  
 
  	
  
2080 Gough Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
16
  
	
  11.08
  	
   
 	
   
 	
  
 
  	
  
455 Hyde Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
43
  
	
  
11.09
  	
   
 	
   
 	
  
 
  	
  
1035 Sutter Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
34
  
	
  11.10
  	
   
 	
   
 	
  
 
  	
  
969 Bush Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
29
  
	
  
11.11
  	
   
 	
   
 	
  
 
  	
  
345 Fulton Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
29
  
	
  11.12
  	
   
 	
   
 	
  
 
  	
  
516 Ellis Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
37
  
	
  
11.13
  	
   
 	
   
 	
  
 
  	
  
721 Geary Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
28
  
	
  11.14
  	
   
 	
   
 	
  
 
  	
  
11 Dolores Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
15
  
	
  
11.15
  	
   
 	
   
 	
  
 
  	
  
2335 Larkin Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
12
  
	
  11.16
  	
   
 	
   
 	
  
 
  	
  
3875 18th Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
12
  
	
  
11.17
  	
   
 	
   
 	
  
 
  	
  
1025 Sutter Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
19
  
	
  11.18
  	
   
 	
   
 	
  
 
  	
  
828 Jones Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
21
  
	
  
11.19
  	
   
 	
   
 	
  
 
  	
  
240 Church Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
3,470
  
	
  11.20
  	
   
 	
   
 	
  
 
  	
  
735 O’Farrell Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
23
  
	
  
11.21
  	
   
 	
   
 	
  
 
  	
  
2337-2339 Market Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
12
  
	
  11.22
  	
   
 	
   
 	
  
 
  	
  
635 Ellis Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
18
  
	
  
11.23
  	
   
 	
   
 	
  
 
  	
  
215-219 Church Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
1
  
	
  11.24
  	
   
 	
   
 	
  
 
  	
  
1385 Kansas Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
8
  
	
  
11.25
  	
   
 	
   
 	
  
 
  	
  
747 Ellis Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
14
  
	
  11.26
  	
   
 	
   
 	
  
 
  	
  
631 Larkin Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
6,500
  
	
  
11.27
  	
   
 	
   
 	
  
 
  	
  
601 Larkin Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
1
  











	

Mortgage
   Loan
   Number
  	
   
 	
  
Loan Group
   Number
  	
   
 	
  
Property   Name
  	
   
 	
  
Unit of
   Measure
  	
   
 	
  
Original   Term
   to Maturity or
   ARD (Mos.)
  	
   
 	
  
Remaining
   Term to
   Maturity or
   ARD (Mos.)
  	
   
 	
  
Maturity   Date
   or ARD
  	
   
 	
  
Original
   Amort Term
   (Mos.)
  	
   
 	
  
Remaining
   Amort Term
   (Mos.)
  
	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  
	
  1
  	
   
 	
  
1
  	
  
 
  	
  
Five Times Square(1)(2)
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
120
  	
   
 	
  
118
  	
   
 	
  
03/11/17
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  2
  	
   
 	
  
1
  	
  
 
  	
  
Beacon D.C. & Seattle   Pool(1)
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
60
  	
   
 	
  
60
  	
   
 	
  
05/07/12
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  
2.01
  	
   
 	
   
 	
  
 
  	
  
Market Square
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  2.02
  	
   
 	
   
 	
  
 
  	
  
Polk & Taylor Buildings
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
2.03
  	
   
 	
   
 	
  
 
  	
  
Wells Fargo Center
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  2.04
  	
   
 	
   
 	
  
 
  	
  
One, Two & Three   Lafayette Centre
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
2.05
  	
   
 	
   
 	
  
 
  	
  
Booz Allen Complex
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  2.06
  	
   
 	
   
 	
  
 
  	
  
Key Center
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
2.07
  	
   
 	
   
 	
  
 
  	
  
Sunset North
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  2.08
  	
   
 	
   
 	
  
 
  	
  
City Center Bellevue
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
2.09
  	
   
 	
   
 	
  
 
  	
  
Plaza Center and US Bank   Tower
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  2.10
  	
   
 	
   
 	
  
 
  	
  
1616 Fort Myer Drive
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
2.11
  	
   
 	
   
 	
  
 
  	
  
American Center
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  2.12
  	
   
 	
   
 	
  
 
  	
  
Eastgate Office Park
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
2.13
  	
   
 	
   
 	
  
 
  	
  
Liberty Place
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  2.14
  	
   
 	
   
 	
  
 
  	
  
Lincoln Executive Center   Buildings I, II, III, A&B
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
2.15
  	
   
 	
   
 	
  
 
  	
  
11111 Sunset Hills Road
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  2.16
  	
   
 	
   
 	
  
 
  	
  
Army and Navy Club Building
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
2.17
  	
   
 	
   
 	
  
 
  	
  
Plaza East
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  2.18
  	
   
 	
   
 	
  
 
  	
  
Reston Town Center
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
2.19
  	
   
 	
   
 	
  
 
  	
  
1300 North Seventeenth   Street
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  2.20
  	
   
 	
   
 	
  
 
  	
  
Washington Mutual Tower
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
3
  	
   
 	
  
1
  	
  
 
  	
  
666 Fifth Avenue(1)
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
120
  	
   
 	
  
117
  	
   
 	
  
02/05/17
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  4
  	
   
 	
  
1
  	
  
 
  	
  
Mall at Rockingham Park
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
120
  	
   
 	
  
118
  	
   
 	
  
03/10/17
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  
5
  	
   
 	
  
2
  	
  
 
  	
  
Peter Cooper Village &   Stuyvesant Town Pool(1)
  	
  
 
  	
  
Units
  	
   
 	
  
120
  	
   
 	
  
115
  	
   
 	
  
12/08/16
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  5.01
  	
   
 	
   
 	
  
 
  	
  
Stuyvesant Town
  	
  
 
  	
  
Units
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
5.02
  	
   
 	
   
 	
  
 
  	
  
Peter Cooper Village
  	
  
 
  	
  
Units
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  6
  	
   
 	
  
1
  	
  
 
  	
  
Hyatt Regency Grand Cypress
  	
  
 
  	
  
Rooms
  	
   
 	
  
84
  	
   
 	
  
83
  	
   
 	
  
04/11/14
  	
   
 	
  
336
  	
   
 	
  
335
  
	
  
7
  	
   
 	
  
1
  	
  
 
  	
  
Boston Marriott Long Wharf(4)
  	
  
 
  	
  
Rooms
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  8
  	
   
 	
  
1
  	
  
 
  	
  
Ashford Hospitality Pool 3
  	
  
 
  	
  
Rooms
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
   
 	
  
360
  	
   
 	
  
360
  
	
  
8.01
  	
   
 	
   
 	
  
 
  	
  
Courtyard - San Francisco,   CA
  	
  
 
  	
  
Rooms
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  8.02
  	
   
 	
   
 	
  
 
  	
  
Courtyard - Seattle, WA
  	
  
 
  	
  
Rooms
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
9
  	
   
 	
  
1
  	
  
 
  	
  
Ashford Hospitality Pool 2
  	
  
 
  	
  
Rooms
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
   
 	
  
360
  	
   
 	
  
360
  
	
  9.01
  	
   
 	
   
 	
  
 
  	
  
Residence Inn - Phoenix ,   AZ
  	
  
 
  	
  
Rooms
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
9.02
  	
   
 	
   
 	
  
 
  	
  
SpringHill Suites -   Hawthorne, CA
  	
  
 
  	
  
Rooms
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  9.03
  	
   
 	
   
 	
  
 
  	
  
Towne Place Suites -   Hawthorne, CA
  	
  
 
  	
  
Rooms
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
9.04
  	
   
 	
   
 	
  
 
  	
  
SpringHill Suites -   Plymouth Meeting, PA
  	
  
 
  	
  
Rooms
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  9.05
  	
   
 	
   
 	
  
 
  	
  
SpringHill Suites - Glen   Allen, VA
  	
  
 
  	
  
Rooms
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
9.06
  	
   
 	
   
 	
  
 
  	
  
Residence Inn - Plano, TX
  	
  
 
  	
  
Rooms
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  9.07
  	
   
 	
   
 	
  
 
  	
  
Residence Inn - Newark, CA
  	
  
 
  	
  
Rooms
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
10
  	
   
 	
  
1
  	
  
 
  	
  
Los Angeles International   Jewelry Center (5)
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
   
 	
  
360
  	
   
 	
  
360
  
	
  11
  	
   
 	
  
1
  	
  
 
  	
  
Lembi Pool
  	
  
 
  	
  
Various
  	
   
 	
  
60
  	
   
 	
  
59
  	
   
 	
  
04/11/12
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  
11.01
  	
   
 	
   
 	
  
 
  	
  
300 Buchanan Street
  	
  
 
  	
  
Units
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  11.02
  	
   
 	
   
 	
  
 
  	
  
536 Leavenworth Street
  	
  
 
  	
  
Units
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
11.03
  	
   
 	
   
 	
  
 
  	
  
210-218 Church Street
  	
  
 
  	
  
Units
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  11.04
  	
   
 	
   
 	
  
 
  	
  
1405 Franklin Street
  	
  
 
  	
  
Units
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
11.05
  	
   
 	
   
 	
  
 
  	
  
610 Leavenworth Street
  	
  
 
  	
  
Units
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  11.06
  	
   
 	
   
 	
  
 
  	
  
350 Judah Street
  	
  
 
  	
  
Units
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
11.07
  	
   
 	
   
 	
  
 
  	
  
2080 Gough Street
  	
  
 
  	
  
Units
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  11.08
  	
   
 	
   
 	
  
 
  	
  
455 Hyde Street
  	
  
 
  	
  
Units
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
11.09
  	
   
 	
   
 	
  
 
  	
  
1035 Sutter Street
  	
  
 
  	
  
Units
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  11.10
  	
   
 	
   
 	
  
 
  	
  
969 Bush Street
  	
  
 
  	
  
Units
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
11.11
  	
   
 	
   
 	
  
 
  	
  
345 Fulton Street
  	
  
 
  	
  
Units
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  11.12
  	
   
 	
   
 	
  
 
  	
  
516 Ellis Street
  	
  
 
  	
  
Units
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
11.13
  	
   
 	
   
 	
  
 
  	
  
721 Geary Street
  	
  
 
  	
  
Units
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  11.14
  	
   
 	
   
 	
  
 
  	
  
11 Dolores Street
  	
  
 
  	
  
Units
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
11.15
  	
   
 	
   
 	
  
 
  	
  
2335 Larkin Street
  	
  
 
  	
  
Units
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  11.16
  	
   
 	
   
 	
  
 
  	
  
3875 18th Street
  	
  
 
  	
  
Units
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
11.17
  	
   
 	
   
 	
  
 
  	
  
1025 Sutter Street
  	
  
 
  	
  
Units
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  11.18
  	
   
 	
   
 	
  
 
  	
  
828 Jones Street
  	
  
 
  	
  
Units
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
11.19
  	
   
 	
   
 	
  
 
  	
  
240 Church Street
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  11.20
  	
   
 	
   
 	
  
 
  	
  
735 O’Farrell Street
  	
  
 
  	
  
Units
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
11.21
  	
   
 	
   
 	
  
 
  	
  
2337-2339 Market Street
  	
  
 
  	
  
Units
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  11.22
  	
   
 	
   
 	
  
 
  	
  
635 Ellis Street
  	
  
 
  	
  
Units
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
11.23
  	
   
 	
   
 	
  
 
  	
  
215-219 Church Street
  	
  
 
  	
  
Units
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  11.24
  	
   
 	
   
 	
  
 
  	
  
1385 Kansas Street
  	
  
 
  	
  
Units
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
11.25
  	
   
 	
   
 	
  
 
  	
  
747 Ellis Street
  	
  
 
  	
  
Units
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  11.26
  	
   
 	
   
 	
  
 
  	
  
631 Larkin Street
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
11.27
  	
   
 	
   
 	
  
 
  	
  
601 Larkin Street
  	
  
 
  	
  
Units
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 











	


Mortgage
   Loan
   Number
  	
   
 	
  
Loan Group
   Number
  	
   
 	
  
Property   Name
  	
   
 	
  
Ground Lease
  	
   
 	
  
Master
   Servicing
   Fee Rate
  	
   
 	
  
ARD Loan
  	
   
 	
  
Anticipated
   Repayment Date
  	
   
 	
  
Additional   Interest Rate
  
	
  

    	
   
 	
  


  	
   
  	
  


  	
  
 
  	
  


  	
   
 	
  
	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  
	

  
1
  	
   
 	
  
1
  	
  
 
  	
  
Five Times Square(1)(2)
  	
  
 
  	
  
Leasehold
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	

  2
  	
   
 	
  
1
  	
  
 
  	
  
Beacon D.C. & Seattle   Pool(1)
  	
  
 
  	
  
Various
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	

  
2.01
  	
   
 	
   
 	
  
 
  	
  
Market Square
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	

  2.02
  	
   
 	
   
 	
  
 
  	
  
Polk & Taylor Buildings
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	

  
2.03
  	
   
 	
   
 	
  
 
  	
  
Wells Fargo Center
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	

  2.04
  	
   
 	
   
 	
  
 
  	
  
One, Two & Three   Lafayette Centre
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	

  
2.05
  	
   
 	
   
 	
  
 
  	
  
Booz Allen Complex
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	

  2.06
  	
   
 	
   
 	
  
 
  	
  
Key Center
  	
  
 
  	
  
Leasehold
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	

  
2.07
  	
   
 	
   
 	
  
 
  	
  
Sunset North
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	

  2.08
  	
   
 	
   
 	
  
 
  	
  
City Center Bellevue
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	

  
2.09
  	
   
 	
   
 	
  
 
  	
  
Plaza Center and US Bank   Tower
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	

  2.10
  	
   
 	
   
 	
  
 
  	
  
1616 Fort Myer Drive
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	

  
2.11
  	
   
 	
   
 	
  
 
  	
  
American Center
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	

  2.12
  	
   
 	
   
 	
  
 
  	
  
Eastgate Office Park
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	

  
2.13
  	
   
 	
   
 	
  
 
  	
  
Liberty Place
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	

  2.14
  	
   
 	
   
 	
  
 
  	
  
Lincoln Executive Center   Buildings I, II, III, A&B
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	

  
2.15
  	
   
 	
   
 	
  
 
  	
  
11111 Sunset Hills Road
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	

  2.16
  	
   
 	
   
 	
  
 
  	
  
Army and Navy Club Building
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	

  
2.17
  	
   
 	
   
 	
  
 
  	
  
Plaza East
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	

  2.18
  	
   
 	
   
 	
  
 
  	
  
Reston Town Center
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	

  
2.19
  	
   
 	
   
 	
  
 
  	
  
1300 North Seventeenth   Street
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	

  2.20
  	
   
 	
   
 	
  
 
  	
  
Washington Mutual Tower
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	

  
3
  	
   
 	
  
1
  	
  
 
  	
  
666 Fifth Avenue(1)
  	
  
 
  	
  
Fee
  	
   
 	
  
0.03000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	

  4
  	
   
 	
  
1
  	
  
 
  	
  
Mall at Rockingham Park
  	
  
 
  	
  
Both
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	

  
5
  	
   
 	
  
2
  	
  
 
  	
  
Peter Cooper Village &   Stuyvesant Town Pool(1)
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	

  5.01
  	
   
 	
   
 	
  
 
  	
  
Stuyvesant Town
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	

  
5.02
  	
   
 	
   
 	
  
 
  	
  
Peter Cooper Village
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	

  6
  	
   
 	
  
1
  	
  
 
  	
  
Hyatt Regency Grand Cypress
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
Y
  	
   
 	
  
4/11/2014
  	
   
 	
  
Greater   of initial interest rate plus 2.5% or TCMYI plus 2.5%
  
	

  
7
  	
   
 	
  
1
  	
  
 
  	
  
Boston Marriott Long Wharf(4)
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	

  8
  	
   
 	
  
1
  	
  
 
  	
  
Ashford Hospitality Pool 3
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	

  
8.01
  	
   
 	
   
 	
  
 
  	
  
Courtyard - San Francisco,   CA
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	

  8.02
  	
   
 	
   
 	
  
 
  	
  
Courtyard - Seattle, WA
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	

  
9
  	
   
 	
  
1
  	
  
 
  	
  
Ashford Hospitality Pool 2
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	

  9.01
  	
   
 	
   
 	
  
 
  	
  
Residence Inn - Phoenix ,   AZ
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	

  
9.02
  	
   
 	
   
 	
  
 
  	
  
SpringHill Suites -   Hawthorne, CA
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	

  9.03
  	
   
 	
   
 	
  
 
  	
  
Towne Place Suites -   Hawthorne, CA
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	

  
9.04
  	
   
 	
   
 	
  
 
  	
  
SpringHill Suites -   Plymouth Meeting, PA
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	

  9.05
  	
   
 	
   
 	
  
 
  	
  
SpringHill Suites - Glen Allen,   VA
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	

  
9.06
  	
   
 	
   
 	
  
 
  	
  
Residence Inn - Plano, TX
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	

  9.07
  	
   
 	
   
 	
  
 
  	
  
Residence Inn - Newark, CA
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	

  
10
  	
   
 	
  
1
  	
  
 
  	
  
Los Angeles International   Jewelry Center (5)
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	

  11
  	
   
 	
  
1
  	
  
 
  	
  
Lembi Pool
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	

  
11.01
  	
   
 	
   
 	
  
 
  	
  
300 Buchanan Street
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	

  11.02
  	
   
 	
   
 	
  
 
  	
  
536 Leavenworth Street
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	

  
11.03
  	
   
 	
   
 	
  
 
  	
  
210-218 Church Street
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	

  11.04
  	
   
 	
   
 	
  
 
  	
  
1405 Franklin Street
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	

  
11.05
  	
   
 	
   
 	
  
 
  	
  
610 Leavenworth Street
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	

  11.06
  	
   
 	
   
 	
  
 
  	
  
350 Judah Street
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	

  
11.07
  	
   
 	
   
 	
  
 
  	
  
2080 Gough Street
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	

  11.08
  	
   
 	
   
 	
  
 
  	
  
455 Hyde Street
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	

  
11.09
  	
   
 	
   
 	
  
 
  	
  
1035 Sutter Street
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	

  11.10
  	
   
 	
   
 	
  
 
  	
  
969 Bush Street
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	

  
11.11
  	
   
 	
   
 	
  
 
  	
  
345 Fulton Street
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	

  11.12
  	
   
 	
   
 	
  
 
  	
  
516 Ellis Street
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	

  
11.13
  	
   
 	
   
 	
  
 
  	
  
721 Geary Street
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	

  11.14
  	
   
 	
   
 	
  
 
  	
  
11 Dolores Street
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	

  
11.15
  	
   
 	
   
 	
  
 
  	
  
2335 Larkin Street
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	

  11.16
  	
   
 	
   
 	
  
 
  	
  
3875 18th Street
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	

  
11.17
  	
   
 	
   
 	
  
 
  	
  
1025 Sutter Street
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	

  11.18
  	
   
 	
   
 	
  
 
  	
  
828 Jones Street
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	

  
11.19
  	
   
 	
   
 	
  
 
  	
  
240 Church Street
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	

  11.20
  	
   
 	
   
 	
  
 
  	
  
735 O’Farrell Street
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	

  
11.21
  	
   
 	
   
 	
  
 
  	
  
2337-2339 Market Street
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	

  11.22
  	
   
 	
   
 	
  
 
  	
  
635 Ellis Street
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	

  
11.23
  	
   
 	
   
 	
  
 
  	
  
215-219 Church Street
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	

  11.24
  	
   
 	
   
 	
  
 
  	
  
1385 Kansas Street
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	

  
11.25
  	
   
 	
   
 	
  
 
  	
  
747 Ellis Street
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	

  11.26
  	
   
 	
   
 	
  
 
  	
  
631 Larkin Street
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	

  
11.27
  	
   
 	
   
 	
  
 
  	
  
601 Larkin Street
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 











	

Mortgage
   Loan
   Number
  	
   
 	
  
Loan Group
   Number
  	
   
 	
  
Property   Name
  	
   
 	
  
Loan   Originator
  	
   
 	
  
Environmental
   Insurance
  	
   
 	
  
Cross
   Collateralized
   and Cross
   Defaulted Loan
   Flag
  	
   
 	
  
Prepayment
   Provisions
  	
   
 	
  
Early
   Defeasance
  	
   
 	
  
Secured by   LC
  
	
  


  	
   
 	
  


  	
   
  	
  


  	
  
 
  	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  
	
  
1
  	
   
 	
  
1
  	
  
 
  	
  
Five Times Square(1)(2)
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  2
  	
   
 	
  
1
  	
  
 
  	
  
Beacon D.C. & Seattle   Pool(1)
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
2.01
  	
   
 	
   
 	
  
 
  	
  
Market Square
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  2.02
  	
   
 	
   
 	
  
 
  	
  
Polk & Taylor Buildings
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
2.03
  	
   
 	
   
 	
  
 
  	
  
Wells Fargo Center
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  2.04
  	
   
 	
   
 	
  
 
  	
  
One, Two & Three   Lafayette Centre
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
2.05
  	
   
 	
   
 	
  
 
  	
  
Booz Allen Complex
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  2.06
  	
   
 	
   
 	
  
 
  	
  
Key Center
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
2.07
  	
   
 	
   
 	
  
 
  	
  
Sunset North
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  2.08
  	
   
 	
   
 	
  
 
  	
  
City Center Bellevue
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
2.09
  	
   
 	
   
 	
  
 
  	
  
Plaza Center and US Bank   Tower
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  2.10
  	
   
 	
   
 	
  
 
  	
  
1616 Fort Myer Drive
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
2.11
  	
   
 	
   
 	
  
 
  	
  
American Center
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  2.12
  	
   
 	
   
 	
  
 
  	
  
Eastgate Office Park
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
2.13
  	
   
 	
   
 	
  
 
  	
  
Liberty Place
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  2.14
  	
   
 	
   
 	
  
 
  	
  
Lincoln Executive Center   Buildings I, II, III, A&B
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
2.15
  	
   
 	
   
 	
  
 
  	
  
11111 Sunset Hills Road
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  2.16
  	
   
 	
   
 	
  
 
  	
  
Army and Navy Club Building
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
2.17
  	
   
 	
   
 	
  
 
  	
  
Plaza East
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  2.18
  	
   
 	
   
 	
  
 
  	
  
Reston Town Center
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
2.19
  	
   
 	
   
 	
  
 
  	
  
1300 North Seventeenth   Street
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  2.20
  	
   
 	
   
 	
  
 
  	
  
Washington Mutual Tower
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
3
  	
   
 	
  
1
  	
  
 
  	
  
666 Fifth Avenue(1)
  	
  
 
  	
  
Barclays
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  4
  	
   
 	
  
1
  	
  
 
  	
  
Mall at Rockingham Park
  	
  
 
  	
  
Nomura
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
5
  	
   
 	
  
2
  	
  
 
  	
  
Peter Cooper Village &   Stuyvesant Town Pool(1)
  	
  
 
  	
  
Wachovia
  	
   
 	
  
Y
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  5.01
  	
   
 	
   
 	
  
 
  	
  
Stuyvesant Town
  	
  
 
  	
   
 	
   
 	
  
Y
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
5.02
  	
   
 	
   
 	
  
 
  	
  
Peter Cooper Village
  	
  
 
  	
   
 	
   
 	
  
Y
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  6
  	
   
 	
  
1
  	
  
 
  	
  
Hyatt Regency Grand Cypress
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
7
  	
   
 	
  
1
  	
  
 
  	
  
Boston Marriott Long Wharf(4)
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  8
  	
   
 	
  
1
  	
  
 
  	
  
Ashford Hospitality Pool 3
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
8.01
  	
   
 	
   
 	
  
 
  	
  
Courtyard - San Francisco,   CA
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  8.02
  	
   
 	
   
 	
  
 
  	
  
Courtyard - Seattle, WA
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
9
  	
   
 	
  
1
  	
  
 
  	
  
Ashford Hospitality Pool 2
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  9.01
  	
   
 	
   
 	
  
 
  	
  
Residence Inn - Phoenix ,   AZ
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
9.02
  	
   
 	
   
 	
  
 
  	
  
SpringHill Suites - Hawthorne,   CA
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  9.03
  	
   
 	
   
 	
  
 
  	
  
Towne Place Suites -   Hawthorne, CA
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
9.04
  	
   
 	
   
 	
  
 
  	
  
SpringHill Suites -   Plymouth Meeting, PA
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  9.05
  	
   
 	
   
 	
  
 
  	
  
SpringHill Suites - Glen   Allen, VA
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
9.06
  	
   
 	
   
 	
  
 
  	
  
Residence Inn - Plano, TX
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  9.07
  	
   
 	
   
 	
  
 
  	
  
Residence Inn - Newark, CA
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
10
  	
   
 	
  
1
  	
  
 
  	
  
Los Angeles International   Jewelry Center (5)
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
N
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  11
  	
   
 	
  
1
  	
  
 
  	
  
Lembi Pool
  	
  
 
  	
  
Nomura
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
11.01
  	
   
 	
   
 	
  
 
  	
  
300 Buchanan Street
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  11.02
  	
   
 	
   
 	
  
 
  	
  
536 Leavenworth Street
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
11.03
  	
   
 	
   
 	
  
 
  	
  
210-218 Church Street
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  11.04
  	
   
 	
   
 	
  
 
  	
  
1405 Franklin Street
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
11.05
  	
   
 	
   
 	
  
 
  	
  
610 Leavenworth Street
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  11.06
  	
   
 	
   
 	
  
 
  	
  
350 Judah Street
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
11.07
  	
   
 	
   
 	
  
 
  	
  
2080 Gough Street
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  11.08
  	
   
 	
   
 	
  
 
  	
  
455 Hyde Street
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
11.09
  	
   
 	
   
 	
  
 
  	
  
1035 Sutter Street
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  11.10
  	
   
 	
   
 	
  
 
  	
  
969 Bush Street
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
11.11
  	
   
 	
   
 	
  
 
  	
  
345 Fulton Street
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  11.12
  	
   
 	
   
 	
  
 
  	
  
516 Ellis Street
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
11.13
  	
   
 	
   
 	
  
 
  	
  
721 Geary Street
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  11.14
  	
   
 	
   
 	
  
 
  	
  
11 Dolores Street
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
11.15
  	
   
 	
   
 	
  
 
  	
  
2335 Larkin Street
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  11.16
  	
   
 	
   
 	
  
 
  	
  
3875 18th Street
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
11.17
  	
   
 	
   
 	
  
 
  	
  
1025 Sutter Street
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  11.18
  	
   
 	
   
 	
  
 
  	
  
828 Jones Street
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
11.19
  	
   
 	
   
 	
  
 
  	
  
240 Church Street
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  11.20
  	
   
 	
   
 	
  
 
  	
  
735 O’Farrell Street
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
11.21
  	
   
 	
   
 	
  
 
  	
  
2337-2339 Market Street
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  11.22
  	
   
 	
   
 	
  
 
  	
  
635 Ellis Street
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
11.23
  	
   
 	
   
 	
  
 
  	
  
215-219 Church Street
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  11.24
  	
   
 	
   
 	
  
 
  	
  
1385 Kansas Street
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
11.25
  	
   
 	
   
 	
  
 
  	
  
747 Ellis Street
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  11.26
  	
   
 	
   
 	
  
 
  	
  
631 Larkin Street
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
11.27
  	
   
 	
   
 	
  
 
  	
  
601 Larkin Street
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 











	

Mortgage
   Loan
   Number
  	
   
 	
  
Loan Group
   Number
  	
   
 	
  
Property   Name
  	
   
 	
  
Interest
   Accrual
   Method
  	
   
 	
  
Lockbox
  	
   
 	
  
Annual   Deposit to
   Replacement
   Reserves
  	
   
 	
  
Initial   Deposit
   to Capital
   Improvements
   Reserve
  	
   
 	
  
Initial   TI/LC
   Escrow
  	
   
 	
  
Ongoing   TI/LC
   Footnote
  
	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  
	
  1
  	
   
 	
  
1
  	
  
 
  	
  
Five Times Square(1)(2)
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Day   1
  	
   
 	
  
57,638
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  2
  	
   
 	
  
1
  	
  
 
  	
  
Beacon D.C. & Seattle   Pool(1)
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Day   1
  	
   
 	
   
 	
   
 	
   
 	
   
 	
  
18,200,095
  	
   
 	
   
 
	
  
2.01
  	
   
 	
   
 	
  
 
  	
  
Market Square
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  2.02
  	
   
 	
   
 	
  
 
  	
  
Polk & Taylor Buildings
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
2.03
  	
   
 	
   
 	
  
 
  	
  
Wells Fargo Center
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  2.04
  	
   
 	
   
 	
  
 
  	
  
One, Two & Three   Lafayette Centre
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
2.05
  	
   
 	
   
 	
  
 
  	
  
Booz Allen Complex
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  2.06
  	
   
 	
   
 	
  
 
  	
  
Key Center
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
2.07
  	
   
 	
   
 	
  
 
  	
  
Sunset North
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  2.08
  	
   
 	
   
 	
  
 
  	
  
City Center Bellevue
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
2.09
  	
   
 	
   
 	
  
 
  	
  
Plaza Center and US Bank   Tower
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  2.10
  	
   
 	
   
 	
  
 
  	
  
1616 Fort Myer Drive
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
2.11
  	
   
 	
   
 	
  
 
  	
  
American Center
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  2.12
  	
   
 	
   
 	
  
 
  	
  
Eastgate Office Park
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
2.13
  	
   
 	
   
 	
  
 
  	
  
Liberty Place
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  2.14
  	
   
 	
   
 	
  
 
  	
  
Lincoln Executive Center   Buildings I, II, III, A&B
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
2.15
  	
   
 	
   
 	
  
 
  	
  
11111 Sunset Hills Road
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  2.16
  	
   
 	
   
 	
  
 
  	
  
Army and Navy Club Building
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
2.17
  	
   
 	
   
 	
  
 
  	
  
Plaza East
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  2.18
  	
   
 	
   
 	
  
 
  	
  
Reston Town Center
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
2.19
  	
   
 	
   
 	
  
 
  	
  
1300 North Seventeenth   Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  2.20
  	
   
 	
   
 	
  
 
  	
  
Washington Mutual Tower
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
3
  	
   
 	
  
1
  	
  
 
  	
  
666 Fifth Avenue(1)
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Day   1
  	
   
 	
  
232,443
  	
   
 	
   
 	
   
 	
  
100,000,000
  	
   
 	
  
(3)
  
	
  4
  	
   
 	
  
1
  	
  
 
  	
  
Mall at Rockingham Park
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Day   1
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
5
  	
   
 	
  
2
  	
  
 
  	
  
Peter Cooper Village &   Stuyvesant Town Pool(1)
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Day   1
  	
   
 	
  
2,808,000
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  5.01
  	
   
 	
   
 	
  
 
  	
  
Stuyvesant Town
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
5.02
  	
   
 	
   
 	
  
 
  	
  
Peter Cooper Village
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  6
  	
   
 	
  
1
  	
  
 
  	
  
Hyatt Regency Grand Cypress
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Day   1
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
7
  	
   
 	
  
1
  	
  
 
  	
  
Boston Marriott Long Wharf(4)
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Day   1
  	
   
 	
  
4.0%   of Yearly Gross Revenue
  	
   
 	
  
171,750
  	
   
 	
   
 	
   
 	
   
 
	
  8
  	
   
 	
  
1
  	
  
 
  	
  
Ashford Hospitality Pool 3
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Day   1
  	
   
 	
  
4.0%   of Yearly Gross Revenue
  	
   
 	
  
4,375
  	
   
 	
   
 	
   
 	
   
 
	
  
8.01
  	
   
 	
   
 	
  
 
  	
  
Courtyard - San Francisco,   CA
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  8.02
  	
   
 	
   
 	
  
 
  	
  
Courtyard - Seattle, WA
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
9
  	
   
 	
  
1
  	
  
 
  	
  
Ashford Hospitality Pool 2
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Day   1
  	
   
 	
  
4.0%   of Yearly Gross Revenue
  	
   
 	
  
119,250
  	
   
 	
   
 	
   
 	
   
 
	
  9.01
  	
   
 	
   
 	
  
 
  	
  
Residence Inn - Phoenix ,   AZ
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
9.02
  	
   
 	
   
 	
  
 
  	
  
SpringHill Suites -   Hawthorne, CA
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  9.03
  	
   
 	
   
 	
  
 
  	
  
Towne Place Suites -   Hawthorne, CA
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
9.04
  	
   
 	
   
 	
  
 
  	
  
SpringHill Suites -   Plymouth Meeting, PA
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  9.05
  	
   
 	
   
 	
  
 
  	
  
SpringHill Suites - Glen   Allen, VA
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
9.06
  	
   
 	
   
 	
  
 
  	
  
Residence Inn - Plano, TX
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  9.07
  	
   
 	
   
 	
  
 
  	
  
Residence Inn - Newark, CA
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
10
  	
   
 	
  
1
  	
  
 
  	
  
Los Angeles International   Jewelry Center (5)
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Day   1
  	
   
 	
  
55,586
  	
   
 	
   
 	
   
 	
  
2,000,000
  	
   
 	
   
 
	
  11
  	
   
 	
  
1
  	
  
 
  	
  
Lembi Pool
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Day   1
  	
   
 	
   
 	
   
 	
  
73,594
  	
   
 	
   
 	
   
 	
   
 
	
  
11.01
  	
   
 	
   
 	
  
 
  	
  
300 Buchanan Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  11.02
  	
   
 	
   
 	
  
 
  	
  
536 Leavenworth Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
11.03
  	
   
 	
   
 	
  
 
  	
  
210-218 Church Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  11.04
  	
   
 	
   
 	
  
 
  	
  
1405 Franklin Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
11.05
  	
   
 	
   
 	
  
 
  	
  
610 Leavenworth Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  11.06
  	
   
 	
   
 	
  
 
  	
  
350 Judah Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
11.07
  	
   
 	
   
 	
  
 
  	
  
2080 Gough Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  11.08
  	
   
 	
   
 	
  
 
  	
  
455 Hyde Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
11.09
  	
   
 	
   
 	
  
 
  	
  
1035 Sutter Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  11.10
  	
   
 	
   
 	
  
 
  	
  
969 Bush Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
11.11
  	
   
 	
   
 	
  
 
  	
  
345 Fulton Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  11.12
  	
   
 	
   
 	
  
 
  	
  
516 Ellis Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
11.13
  	
   
 	
   
 	
  
 
  	
  
721 Geary Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  11.14
  	
   
 	
   
 	
  
 
  	
  
11 Dolores Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
11.15
  	
   
 	
   
 	
  
 
  	
  
2335 Larkin Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  11.16
  	
   
 	
   
 	
  
 
  	
  
3875 18th Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
11.17
  	
   
 	
   
 	
  
 
  	
  
1025 Sutter Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  11.18
  	
   
 	
   
 	
  
 
  	
  
828 Jones Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
11.19
  	
   
 	
   
 	
  
 
  	
  
240 Church Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  11.20
  	
   
 	
   
 	
  
 
  	
  
735 O’Farrell Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
11.21
  	
   
 	
   
 	
  
 
  	
  
2337-2339 Market Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  11.22
  	
   
 	
   
 	
  
 
  	
  
635 Ellis Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
11.23
  	
   
 	
   
 	
  
 
  	
  
215-219 Church Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  11.24
  	
   
 	
   
 	
  
 
  	
  
1385 Kansas Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
11.25
  	
   
 	
   
 	
  
 
  	
  
747 Ellis Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  11.26
  	
   
 	
   
 	
  
 
  	
  
631 Larkin Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
11.27
  	
   
 	
   
 	
  
 
  	
  
601 Larkin Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 












	 Mortgage

        Loan

        Number
	 
	 Loan Group

        Number
	 
	 Property Name
	 
	 Address
	 
	 City
	 
	 State
	 
	 Zip Code
	 
	 County

	

    	 
	

    	 
	

    	 
	

    	 
	

    	 
	

    	 
	

    	 
	

    
	11.28
	  
	  
	  
	 1520-1524 Geneva Avenue
	  
	 1520-1524 Geneva Avenue
	  
	 San Francisco
	  
	 CA
	 
	 94112
	  
	 San Francisco

	11.29
	  
	  
	  
	 1199 DeHaro Street
	  
	 1199 DeHaro Street
	  
	 San Francisco
	  
	 CA
	 
	 94107
	  
	 San Francisco

	 12
	  
	 1
	  
	 Ashford Hospitality Pool 1
	  
	 Various
	  
	 Various
	  
	 Various
	 
	 Various
	  
	 Various

	12.01
	  
	 
	  
	 Courtyard - Basking Ridge, NJ
	  
	 595 Martinsville Road
	  
	 Basking Ridge
	  
	 NJ
	 
	 07920
	  
	 Somerset

	 12.02
	  
	 
	  
	 Courtyard - Oakland Airport, CA
	  
	 350 Hegenberger Road
	  
	 Oakland
	  
	 CA
	 
	 94621
	  
	 Alameda

	12.03
	  
	 
	  
	 Courtyard - Scottsdale, AZ
	  
	 3311 North Scottsdale Road
	  
	 Scottsdale
	  
	 AZ
	 
	 85251
	  
	 Maricopa

	 12.04
	  
	 
	  
	 Courtyard - Plano, TX
	  
	 6840 North Dallas Parkway
	  
	 Plano
	  
	 TX
	 
	 75024
	  
	 Collin

	12.05
	  
	 
	  
	 Courtyard - Newark, CA
	  
	 34905 Newark Boulevard
	  
	 Newark
	  
	 CA
	 
	 94560
	  
	 Alameda

	 13
	  
	 1
	  
	 Osprey Pool
	  
	 Various
	  
	 Various
	  
	 Various
	 
	 Various
	  
	 Various

	13.01
	  
	 
	  
	 First Citizens Plaza
	  
	 128 South Tryon Street
	  
	 Charlotte
	  
	 NC
	 
	 28202
	  
	 Mecklenburg

	 13.02
	  
	 
	  
	 Sarasota City Center
	  
	 1819 Main Street
	  
	 Sarasota
	  
	 FL
	 
	 34236
	  
	 Sarasota

	14
	  
	 2
	  
	 City Heights Apartment Homes(6)
	  
	 209 South Westmoreland Avenue
	  
	 Los Angeles
	  
	 CA
	 
	 90004
	  
	 Los Angeles

	 15
	  
	 1
	  
	 Ponte Vedra Inn & Club
	  
	 200 Ponte Vedra Boulevard
	  
	 Ponte Vedra Beach
	  
	 FL
	 
	 32082
	  
	 St. John and Duval

	16
	  
	 2
	  
	 Clinton Manor
	  
	 535 West 51st Street & 540 West 52nd Street
	  
	 New York
	  
	 NY
	 
	 10019
	  
	 New York

	 17
	  
	 1
	  
	 Southern Palm Crossing Shopping Center (7)
	  
	 11001 Southern Boulevard
	  
	 Royal Palm Beach
	  
	 FL
	 
	 33411
	  
	 Palm Beach

	18
	  
	 1
	  
	 635 Madison Avenue
	  
	 635 Madison Avenue
	  
	 New York
	  
	 NY
	 
	 10022
	  
	 New York

	 19
	  
	 1
	  
	 Cherry Hill Corporate Center Pool
	  
	 Various
	  
	 Various
	  
	 MA
	 
	 Various
	  
	 Essex

	19.01
	  
	 
	  
	 24-42 Cherry Hill Drive
	  
	 24-42 Cherry Hill Drive
	  
	 Danvers
	  
	 MA
	 
	 01923
	  
	 Essex

	 19.02
	  
	 
	  
	 71 Cherry Hill Drive
	  
	 71 Cherry Hill Drive
	  
	 Beverly
	  
	 MA
	 
	 01915
	  
	 Essex

	19.03
	  
	 
	  
	 35 Cherry Hill Drive
	  
	 35 Cherry Hill Drive
	  
	 Danvers
	  
	 MA
	 
	 01923
	  
	 Essex

	 19.04
	  
	 
	  
	 37 Cherry Hill Drive
	  
	 37 Cherry Hill Drive
	  
	 Danvers
	  
	 MA
	 
	 01923
	  
	 Essex

	19.05
	  
	 
	  
	 33 Cherry Hill Drive
	  
	 33 Cherry Hill Drive
	  
	 Danvers
	  
	 MA
	 
	 01923
	  
	 Essex

	 19.06
	  
	 
	  
	 54 Cherry Hill Drive
	  
	 54 Cherry Hill Drive
	  
	 Danvers
	  
	 MA
	 
	 01923
	  
	 Essex

	19.07
	  
	 
	  
	 72 Cherry Hill Drive
	  
	 72 Cherry Hill Drive
	  
	 Beverly
	  
	 MA
	 
	 01915
	  
	 Essex

	 19.08
	  
	 
	  
	 66 Cherry Hill Drive
	  
	 66 Cherry Hill Drive
	  
	 Beverly
	  
	 MA
	 
	 01915
	  
	 Essex

	19.09
	  
	 
	  
	 5 Cherry Hill Drive
	  
	 5 Cherry Hill Drive
	  
	 Danvers
	  
	 MA
	 
	 01923
	  
	 Essex

	 20
	  
	 1
	  
	 First Colony Commons
	  
	 15201 - 15555 Southwest Freeway
	  
	 Sugarland
	  
	 TX
	 
	 77478
	  
	 Fort Bend

	21
	  
	 1
	  
	 611 West 6th Street
	  
	 611 West 6th Street
	  
	 Los Angeles
	  
	 CA
	 
	 90017
	  
	 Los Angeles

	 22
	  
	 2
	  
	 Addison at Swift Creek Apartments
	  
	 4100 Lonas Parkway
	  
	 Midlothian
	  
	 VA
	 
	 23112
	  
	 Chesterfield

	23
	  
	 1
	  
	 Corporate Plaza
	  
	 800 Delaware Avenue
	  
	 Wilmington
	  
	 DE
	 
	 19801
	  
	 New Castle

	 24
	  
	 2
	  
	 Park Place Apartments
	  
	 675 Town Center Drive
	  
	 Newport News
	  
	 VA
	 
	 23606
	  
	 Newport News City

	25
	  
	 1
	  
	 Central Texas Marketplace
	  
	 NWC IH-35 and Highway 6/Loop 340
	  
	 Waco
	  
	 TX
	 
	 76711
	  
	 McLennan

	 26
	  
	 1
	  
	 East Gate Square Phase II
	  
	 1111 Nixon Drive
	  
	 Moorestown
	  
	 NJ
	 
	 08057
	  
	 Burlington

	27
	  
	 1
	  
	 Saint Louis Marriott West(8)
	  
	 660 Maryville Centre Drive
	  
	 Saint Louis
	  
	 MO
	 
	 63141
	  
	 Saint Louis

	 28
	  
	 1
	  
	 FMC Technologies
	  
	 1701, 1777 & 1803 Gears Road
	  
	 Houston
	  
	 TX
	 
	 77067
	  
	 Harris

	29
	  
	 1
	  
	 1020 19th Street
	  
	 1020 19th Street, NW
	  
	 Washington
	  
	 DC
	 
	 20036
	  
	 District Of Columbia

	 30
	  
	 1
	  
	 1920 L Street
	  
	 1920 L Street, NW
	  
	 Washington
	  
	 DC
	 
	 20036
	  
	 District Of Columbia

	31
	  
	 1
	  
	 Scottsdale Medical Office(9)
	  
	 9700 North 91st Place; 10752 North 89th Place; 8952 East Desert Cove Drive
	  
	 Scottsdale
	  
	 AZ
	 
	 85260
	  
	 Maricopa

	 32
	  
	 2
	  
	 Jacobs Woods
	  
	 100 Jacobs Hall Lane
	  
	 Lansdale
	  
	 PA
	 
	 19446
	  
	 Montgomery

	33
	  
	 2
	  
	 The Overlook at St. Thomas Apartments
	  
	 6800 Steeprun Road
	  
	 Louisville
	  
	 KY
	 
	 40241
	  
	 Jefferson

	 34
	  
	 1
	  
	 Toll Brothers Corporate Headquarters
	  
	 250 Gibralter Road
	  
	 Horsham
	  
	 PA
	 
	 19044
	  
	 Montgomery

	35
	  
	 2
	  
	 Marquis at Caprock Canyon
	  
	 4411 Spicewood Springs
	  
	 Austin
	  
	 TX
	 
	 78759
	  
	 Travis

	 36
	  
	 2
	  
	 Regent Apartments
	  
	 2750 Millerville Road
	  
	 Baton Rouge
	  
	 LA
	 
	 70816
	  
	 East Baton Rouge

	37
	  
	 1
	  
	 1900 L Street
	  
	 1900 L Street, NW
	  
	 Washington
	  
	 DC
	 
	 20036
	  
	 District Of Columbia

	 38
	  
	 2
	  
	 Colonial Grande at Promenade
	  
	 2400 Central Parkway
	  
	 Montgomery
	  
	 AL
	 
	 36106
	  
	 Montgomery

	39
	  
	 1
	  
	 Whittier Marketplace
	  
	 11701-11891 Whittier Boulevard
	  
	 Whittier
	  
	 CA
	 
	 90601
	  
	 Los Angeles

	 40
	  
	 2
	  
	 Wynn Palms Apartments
	  
	 3756, 3800 & 3880 Wynn Road
	  
	 Las Vegas
	  
	 NV
	 
	 89103
	  
	 Clark

	41
	  
	 2
	  
	 Main Street Village Apartments I&II
	  
	 5504 Town Center Drive
	  
	 Granger
	  
	 IN
	 
	 46530
	  
	 St Joseph

	 42
	  
	 1
	  
	 East Gate Square Phase IV
	  
	 1311 Nixon Drive
	  
	 Mount Laurel
	  
	 NJ
	 
	 08054
	  
	 Burlington

	43
	  
	 1
	  
	 East Gate Square Phase V
	  
	 1520 Nixon Drive
	  
	 Moorestown
	  
	 NJ
	 
	 08057
	  
	 Burlington

	 44
	  
	 1
	  
	 Doubletree Hotel - Tucson, AZ(10)
	  
	 445 South Alvernon Way
	  
	 Tucson
	  
	 AZ
	 
	 85711
	  
	 Pima

	45
	  
	 1
	  
	 Whittier Center
	  
	 15111 & 15141 Whittier Boulevard
	  
	 Whittier
	  
	 CA
	 
	 90603
	  
	 Los Angeles

	 46
	  
	 1
	  
	 Durham Office(11)
	  
	 3414, 3404 North Duke Street; 4117, 4101, 4020 North Roxborough Road
	  
	 Durham
	  
	 NC
	 
	 27704
	  
	 Durham

	47
	  
	 1
	  
	 35 Nutmeg Drive
	  
	 35 Nutmeg Drive
	  
	 Trumbull
	  
	 CT
	 
	 06611
	  
	 Fairfield

	 48
	  
	 1
	  
	 Parkway 400(12)
	  
	 11800 & 11720 Amberpark Road
	  
	 Alpharetta
	  
	 GA
	 
	 30004
	  
	 Fulton

	49
	  
	 1
	  
	 THF-Fairview Marketplace
	  
	 2901-3103 West Broadway
	  
	 Columbia
	  
	 MO
	 
	 65203
	  
	 Boone

	 50
	  
	 2
	  
	 University Crescent Student Apartments
	  
	 4500 Burbank Drive
	  
	 Baton Rouge
	  
	 LA
	 
	 70820
	  
	 East Baton Rouge

	51
	  
	 1
	  
	 One & Two Decatur Town Center(13)
	  
	 150 East Ponce de Leon Avenue & 125 Clairmont Avenue
	  
	 Atlanta
	  
	 GA
	 
	 30030
	  
	 Dekalb

	 52
	  
	 2
	  
	 The Summit
	  
	 1801 Monks Avenue
	  
	 Mankato
	  
	 MN
	 
	 56001
	  
	 Blue Earth

	53
	  
	 1
	  
	 Beachwalk Shopping Center
	  
	 437 South Highway 101
	  
	 Solana Beach
	  
	 CA
	 
	 92075
	  
	 San Diego

	 54
	  
	 2
	  
	 University Oaks Student Housing
	  
	 21 National Guard Road
	  
	 Columbia
	  
	 SC
	 
	 29201
	  
	 Richland

	55
	  
	 2
	  
	 Royal Saint Moritz Apartments
	  
	 2050 Grayson Drive
	  
	 Grapevine
	  
	 TX
	 
	 76051
	  
	 Tarrant

	 56
	  
	 2
	  
	 Vineyard Springs Apartments
	  
	 18200 Blanco Springs Road
	  
	 San Antonio
	  
	 TX
	 
	 78258
	  
	 Bexar

	57
	  
	 1
	  
	 The Phillips Building
	  
	 7900-7920 Norfolk Avenue
	  
	 Bethesda
	  
	 MD
	 
	 20814
	  
	 Montgomery

	 58
	  
	 1
	  
	 200 Montague Street
	  
	 200 Montague Street
	  
	 Brooklyn
	  
	 NY
	 
	 11201
	  
	 Kings

	59
	  
	 2
	  
	 Marquis at Carmel Commons Apartments
	  
	 6818 Northbury Lane
	  
	 Charlotte
	  
	 NC
	 
	 28226
	  
	 Mecklenburg

	 60
	  
	 1
	  
	 Courthouse Marketplace Retail Center
	  
	 2476 Nimmo Parkway
	  
	 Virginia Beach
	  
	 VA
	 
	 23456
	  
	 Virginia Beach City

	61
	  
	 2
	  
	 The Depot Apartments
	  
	 555 Elm Street
	  
	 Fort Worth
	  
	 TX
	 
	 76102
	  
	 Tarrant

	 62
	  
	 1
	  
	 200 South Tryon
	  
	 200 South Tryon Street
	  
	 Charlotte
	  
	 NC
	 
	 28202
	  
	 Mecklenburg

	63
	  
	 2
	  
	 Oaks at Broad River
	  
	 100 Riverchase Boulevard
	  
	 Beaufort
	  
	 SC
	 
	 29906
	  
	 Beaufort










	
Mortgage 
  Loan Number
  	
   
 	
  
Loan Group
   Number
  	
   
 	
  
Property   Name
  	
   
 	
  
Cut-Off   Date Loan
   Balance ($)
  	
   
 	
  
Monthly   P&I
   Payments ($)
  	
   
 	
  
Grace Days
  	
   
 	
  
Mortgage   Rate (%)
  	
   
 	
  
Number of   Units
  
	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  
	
  11.28
  	
   
 	
   
 	
  
 
  	
  
1520-1524   Geneva Avenue
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 	
  
 
  	
   
 	
   
 	
  
7
  
	
  
11.29
  	
   
 	
   
 	
  
 
  	
  
1199   DeHaro Street
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
   
 	
  
 
  	
   
 	
   
 	
  
1
  
	
  12
  	
   
 	
  
1
  	
  
 
  	
  
Ashford   Hospitality Pool 1
  	
  
 
  	
  
115,600,000.00
  	
   
 	
  
689,541.73
  	
  
 
  	
   
 	
  
 
  	
  
5.9523333333%
  	
   
 	
  
905
  
	
  
12.01
  	
   
 	
   
 	
  
 
  	
  
Courtyard   - Basking Ridge, NJ
  	
  
 
  	
   
 	
   
 	
   
 	
  
 
  	
   
 	
  
 
  	
   
 	
   
 	
  
235
  
	
  12.02
  	
   
 	
   
 	
  
 
  	
  
Courtyard   - Oakland Airport, CA
  	
  
 
  	
   
 	
   
 	
   
 	
  
 
  	
   
 	
  
 
  	
   
 	
   
 	
  
156
  
	
  
12.03
  	
   
 	
   
 	
  
 
  	
  
Courtyard   - Scottsdale, AZ
  	
  
 
  	
   
 	
   
 	
   
 	
  
 
  	
   
 	
  
 
  	
   
 	
   
 	
  
180
  
	
  12.04
  	
   
 	
   
 	
  
 
  	
  
Courtyard   - Plano, TX
  	
  
 
  	
   
 	
   
 	
   
 	
  
 
  	
   
 	
  
 
  	
   
 	
   
 	
  
153
  
	
  
12.05
  	
   
 	
   
 	
  
 
  	
  
Courtyard   - Newark, CA
  	
  
 
  	
   
 	
   
 	
   
 	
  
 
  	
   
 	
  
 
  	
   
 	
   
 	
  
181
  
	
  13
  	
   
 	
  
1
  	
  
 
  	
  
Osprey   Pool
  	
  
 
  	
  
113,360,000.00
  	
   
 	
  
IO
  	
  
 
  	
   
 	
  
 
  	
  
5.6100%
  	
   
 	
  
724,097
  
	
  
13.01
  	
   
 	
   
 	
  
 
  	
  
First   Citizens Plaza
  	
  
 
  	
   
 	
   
 	
   
 	
  
 
  	
   
 	
  
 
  	
   
 	
   
 	
  
475,043
  
	
  13.02
  	
   
 	
   
 	
  
 
  	
  
Sarasota   City Center
  	
  
 
  	
   
 	
   
 	
   
 	
  
 
  	
   
 	
  
 
  	
   
 	
   
 	
  
249,054
  
	
  
14
  	
   
 	
  
2
  	
  
 
  	
  
City   Heights Apartment Homes(6)
  	
  
 
  	
  
98,000,000.00
  	
   
 	
  
IO
  	
  
 
  	
   
 	
  
 
  	
  
5.6500%
  	
   
 	
  
687
  
	
  15
  	
   
 	
  
1
  	
  
 
  	
  
Ponte   Vedra Inn & Club
  	
  
 
  	
  
80,000,000.00
  	
   
 	
  
470,931.88
  	
  
 
  	
   
 	
  
 
  	
  
5.8300%
  	
   
 	
  
249
  
	
  
16
  	
   
 	
  
2
  	
  
 
  	
  
Clinton   Manor
  	
  
 
  	
  
79,000,000.00
  	
   
 	
  
IO
  	
  
 
  	
  
5 Default 5 Late
  	
  
 
  	
  
5.5000%
  	
   
 	
  
241
  
	
  17
  	
   
 	
  
1
  	
  
 
  	
  
Southern   Palm Crossing Shopping Center (7)
  	
  
 
  	
  
69,675,000.00
  	
   
 	
  
IO
  	
  
 
  	
   
 	
  
 
  	
  
5.9100%
  	
   
 	
  
346,042
  
	
  
18
  	
   
 	
  
1
  	
  
 
  	
  
635   Madison Avenue
  	
  
 
  	
  
56,500,000.00
  	
   
 	
  
IO
  	
  
 
  	
   
 	
  
 
  	
  
5.6000%
  	
   
 	
  
143,825
  
	
  19
  	
   
 	
  
1
  	
  
 
  	
  
Cherry   Hill Corporate Center Pool
  	
  
 
  	
  
51,700,000.00
  	
   
 	
  
IO
  	
  
 
  	
   
 	
  
 
  	
  
5.7300%
  	
   
 	
  
601,889
  
	
  
19.01
  	
   
 	
   
 	
  
 
  	
  
24-42   Cherry Hill Drive
  	
  
 
  	
   
 	
   
 	
   
 	
  
 
  	
   
 	
  
 
  	
   
 	
   
 	
  
100,612
  
	
  19.02
  	
   
 	
   
 	
  
 
  	
  
71   Cherry Hill Drive
  	
  
 
  	
   
 	
   
 	
   
 	
  
 
  	
   
 	
  
 
  	
   
 	
   
 	
  
100,928
  
	
  
19.03
  	
   
 	
   
 	
  
 
  	
  
35   Cherry Hill Drive
  	
  
 
  	
   
 	
   
 	
   
 	
  
 
  	
   
 	
  
 
  	
   
 	
   
 	
  
77,712
  
	
  19.04
  	
   
 	
   
 	
  
 
  	
  
37   Cherry Hill Drive
  	
  
 
  	
   
 	
   
 	
   
 	
  
 
  	
   
 	
  
 
  	
   
 	
   
 	
  
60,000
  
	
  
19.05
  	
   
 	
   
 	
  
 
  	
  
33   Cherry Hill Drive
  	
  
 
  	
   
 	
   
 	
   
 	
  
 
  	
   
 	
  
 
  	
   
 	
   
 	
  
60,600
  
	
  19.06
  	
   
 	
   
 	
  
 
  	
  
54   Cherry Hill Drive
  	
  
 
  	
   
 	
   
 	
   
 	
  
 
  	
   
 	
  
 
  	
   
 	
   
 	
  
68,700
  
	
  
19.07
  	
   
 	
   
 	
  
 
  	
  
72   Cherry Hill Drive
  	
  
 
  	
   
 	
   
 	
   
 	
  
 
  	
   
 	
  
 
  	
   
 	
   
 	
  
59,146
  
	
  19.08
  	
   
 	
   
 	
  
 
  	
  
66   Cherry Hill Drive
  	
  
 
  	
   
 	
   
 	
   
 	
  
 
  	
   
 	
  
 
  	
   
 	
   
 	
  
32,669
  
	
  
19.09
  	
   
 	
   
 	
  
 
  	
  
5   Cherry Hill Drive
  	
  
 
  	
   
 	
   
 	
   
 	
  
 
  	
   
 	
  
 
  	
   
 	
   
 	
  
41,522
  
	
  20
  	
   
 	
  
1
  	
  
 
  	
  
First   Colony Commons
  	
  
 
  	
  
50,600,000.00
  	
   
 	
  
IO
  	
  
 
  	
  
0 default, 10 late
  	
  
 
  	
  
5.7300%
  	
   
 	
  
410,117
  
	
  
21
  	
   
 	
  
1
  	
  
 
  	
  
611   West 6th Street
  	
  
 
  	
  
50,000,000.00
  	
   
 	
  
IO
  	
  
 
  	
   
 	
  
 
  	
  
5.7600%
  	
   
 	
  
274,528
  
	
  22
  	
   
 	
  
2
  	
  
 
  	
  
Addison   at Swift Creek Apartments
  	
  
 
  	
  
47,320,000.00
  	
   
 	
  
IO
  	
  
 
  	
   
 	
  
 
  	
  
5.7800%
  	
   
 	
  
432
  
	
  
23
  	
   
 	
  
1
  	
  
 
  	
  
Corporate   Plaza
  	
  
 
  	
  
47,000,000.00
  	
   
 	
  
271,003.79
  	
  
 
  	
   
 	
  
 
  	
  
5.6400%
  	
   
 	
  
277,799
  
	
  24
  	
   
 	
  
2
  	
  
 
  	
  
Park   Place Apartments
  	
  
 
  	
  
46,400,000.00
  	
   
 	
  
IO
  	
  
 
  	
   
 	
  
 
  	
  
5.5300%
  	
   
 	
  
361
  
	
  
25
  	
   
 	
  
1
  	
  
 
  	
  
Central   Texas Marketplace
  	
  
 
  	
  
45,386,369.00
  	
   
 	
  
IO
  	
  
 
  	
   
 	
  
 
  	
  
5.4600%
  	
   
 	
  
555,906
  
	
  26
  	
   
 	
  
1
  	
  
 
  	
  
East   Gate Square Phase II
  	
  
 
  	
  
41,480,000.00
  	
   
 	
  
IO
  	
  
 
  	
  
5 default (after Lender notice twice per year), 0   late
  	
  
 
  	
  
5.4800%
  	
   
 	
  
154,742
  
	
  
27
  	
   
 	
  
1
  	
  
 
  	
  
Saint   Louis Marriott West(8)
  	
  
 
  	
  
39,712,500.00
  	
   
 	
  
239,374.60
  	
  
 
  	
   
 	
  
 
  	
  
6.0500%
  	
   
 	
  
300
  
	
  28
  	
   
 	
  
1
  	
  
 
  	
  
FMC   Technologies
  	
  
 
  	
  
39,000,000.00
  	
   
 	
  
IO
  	
  
 
  	
   
 	
  
 
  	
  
5.6000%
  	
   
 	
  
462,717
  
	
  
29
  	
   
 	
  
1
  	
  
 
  	
  
1020   19th Street
  	
  
 
  	
  
38,000,000.00
  	
   
 	
  
IO
  	
  
 
  	
   
 	
  
 
  	
  
5.6500%
  	
   
 	
  
107,338
  
	
  30
  	
   
 	
  
1
  	
  
 
  	
  
1920   L Street
  	
  
 
  	
  
36,600,000.00
  	
   
 	
  
IO
  	
  
 
  	
   
 	
  
 
  	
  
5.6500%
  	
   
 	
  
101,317
  
	
  
31
  	
   
 	
  
1
  	
  
 
  	
  
Scottsdale   Medical Office(9)
  	
  
 
  	
  
36,500,000.00
  	
   
 	
  
IO
  	
  
 
  	
   
 	
  
 
  	
  
5.4400%
  	
   
 	
  
154,136
  
	
  32
  	
   
 	
  
2
  	
  
 
  	
  
Jacobs   Woods
  	
  
 
  	
  
36,200,000.00
  	
   
 	
  
208,273.36
  	
  
 
  	
  
5 Default 5 Late
  	
  
 
  	
  
5.6200%
  	
   
 	
  
230
  
	
  
33
  	
   
 	
  
2
  	
  
 
  	
  
The   Overlook at St. Thomas Apartments
  	
  
 
  	
  
35,962,199.35
  	
   
 	
  
209,400.65
  	
  
 
  	
   
 	
  
 
  	
  
5.7200%
  	
   
 	
  
484
  
	
  34
  	
   
 	
  
1
  	
  
 
  	
  
Toll   Brothers Corporate Headquarters
  	
  
 
  	
  
35,125,000.00
  	
   
 	
  
IO
  	
  
 
  	
   
 	
  
 
  	
  
5.9700%
  	
   
 	
  
203,000
  
	
  
35
  	
   
 	
  
2
  	
  
 
  	
  
Marquis   at Caprock Canyon
  	
  
 
  	
  
32,500,000.00
  	
   
 	
  
IO
  	
  
 
  	
   
 	
  
 
  	
  
5.7400%
  	
   
 	
  
336
  
	
  36
  	
   
 	
  
2
  	
  
 
  	
  
Regent   Apartments
  	
  
 
  	
  
32,000,000.00
  	
   
 	
  
IO
  	
  
 
  	
   
 	
  
 
  	
  
6.1300%
  	
   
 	
  
318
  
	
  
37
  	
   
 	
  
1
  	
  
 
  	
  
1900   L Street
  	
  
 
  	
  
31,900,000.00
  	
   
 	
  
IO
  	
  
 
  	
   
 	
  
 
  	
  
5.6500%
  	
   
 	
  
104,394
  
	
  38
  	
   
 	
  
2
  	
  
 
  	
  
Colonial   Grande at Promenade
  	
  
 
  	
  
30,400,000.00
  	
   
 	
  
177,406.15
  	
  
 
  	
   
 	
  
 
  	
  
5.7500%
  	
   
 	
  
384
  
	
  
39
  	
   
 	
  
1
  	
  
 
  	
  
Whittier   Marketplace
  	
  
 
  	
  
30,400,000.00
  	
   
 	
  
IO
  	
  
 
  	
   
 	
  
 
  	
  
5.6500%
  	
   
 	
  
168,263
  
	
  40
  	
   
 	
  
2
  	
  
 
  	
  
Wynn   Palms Apartments
  	
  
 
  	
  
29,100,000.00
  	
   
 	
  
IO
  	
  
 
  	
   
 	
  
 
  	
  
6.0000%
  	
   
 	
  
554
  
	
  
41
  	
   
 	
  
2
  	
  
 
  	
  
Main   Street Village Apartments I&II
  	
  
 
  	
  
28,700,000.00
  	
   
 	
  
IO
  	
  
 
  	
   
 	
  
 
  	
  
5.9200%
  	
   
 	
  
400
  
	
  42
  	
   
 	
  
1
  	
  
 
  	
  
East   Gate Square Phase IV
  	
  
 
  	
  
28,080,000.00
  	
   
 	
  
IO
  	
  
 
  	
  
5 default (after Lender notice twice per year), 0   late
  	
  
 
  	
  
5.4800%
  	
   
 	
  
99,560
  
	
  
43
  	
   
 	
  
1
  	
  
 
  	
  
East   Gate Square Phase V
  	
  
 
  	
  
28,020,000.00
  	
   
 	
  
IO
  	
  
 
  	
  
5 default (after Lender notice twice per year), 0   late
  	
  
 
  	
  
5.4800%
  	
   
 	
  
94,286
  
	
  44
  	
   
 	
  
1
  	
  
 
  	
  
Doubletree   Hotel - Tucson, AZ(10)
  	
  
 
  	
  
27,471,119.03
  	
   
 	
  
159,941.38
  	
  
 
  	
   
 	
  
 
  	
  
5.7190%
  	
   
 	
  
295
  
	
  
45
  	
   
 	
  
1
  	
  
 
  	
  
Whittier   Center
  	
  
 
  	
  
26,100,000.00
  	
   
 	
  
IO
  	
  
 
  	
   
 	
  
 
  	
  
6.0000%
  	
   
 	
  
143,450
  
	
  46
  	
   
 	
  
1
  	
  
 
  	
  
Durham   Office(11)
  	
  
 
  	
  
26,000,000.00
  	
   
 	
  
155,883.14
  	
  
 
  	
  
0 default, 15 late
  	
  
 
  	
  
6.0000%
  	
   
 	
  
276,329
  
	
  
47
  	
   
 	
  
1
  	
  
 
  	
  
35   Nutmeg Drive
  	
  
 
  	
  
25,600,000.00
  	
   
 	
  
146,964.22
  	
  
 
  	
   
 	
  
 
  	
  
5.6000%
  	
   
 	
  
278,655
  
	
  48
  	
   
 	
  
1
  	
  
 
  	
  
Parkway   400(12)
  	
  
 
  	
  
25,500,000.00
  	
   
 	
  
148,811.08
  	
  
 
  	
   
 	
  
 
  	
  
5.7500%
  	
   
 	
  
192,786
  
	
  
49
  	
   
 	
  
1
  	
  
 
  	
  
THF-Fairview   Marketplace
  	
  
 
  	
  
25,000,000.00
  	
   
 	
  
151,014.59
  	
  
 
  	
   
 	
  
 
  	
  
6.0700%
  	
   
 	
  
219,096
  
	
  50
  	
   
 	
  
2
  	
  
 
  	
  
University   Crescent Student Apartments
  	
  
 
  	
  
24,150,000.00
  	
   
 	
  
IO
  	
  
 
  	
   
 	
  
 
  	
  
5.6000%
  	
   
 	
  
192
  
	
  
51
  	
   
 	
  
1
  	
  
 
  	
  
One   & Two Decatur Town Center(13)
  	
  
 
  	
  
24,000,000.00
  	
   
 	
  
138,840.17
  	
  
 
  	
   
 	
  
 
  	
  
5.6700%
  	
   
 	
  
185,354
  
	
  52
  	
   
 	
  
2
  	
  
 
  	
  
The   Summit
  	
  
 
  	
  
23,825,000.00
  	
   
 	
  
IO
  	
  
 
  	
   
 	
  
 
  	
  
5.6000%
  	
   
 	
  
192
  
	
  
53
  	
   
 	
  
1
  	
  
 
  	
  
Beachwalk   Shopping Center
  	
  
 
  	
  
22,520,000.00
  	
   
 	
  
IO
  	
  
 
  	
   
 	
  
 
  	
  
5.6900%
  	
   
 	
  
52,875
  
	
  54
  	
   
 	
  
2
  	
  
 
  	
  
University   Oaks Student Housing
  	
  
 
  	
  
22,150,000.00
  	
   
 	
  
IO
  	
  
 
  	
   
 	
  
 
  	
  
5.6000%
  	
   
 	
  
180
  
	
  
55
  	
   
 	
  
2
  	
  
 
  	
  
Royal   Saint Moritz Apartments
  	
  
 
  	
  
22,000,000.00
  	
   
 	
  
IO
  	
  
 
  	
   
 	
  
 
  	
  
5.6200%
  	
   
 	
  
336
  
	
  56
  	
   
 	
  
2
  	
  
 
  	
  
Vineyard   Springs Apartments
  	
  
 
  	
  
21,825,000.00
  	
   
 	
  
121,330.81
  	
  
 
  	
  
0 default, 10 late
  	
  
 
  	
  
5.3100%
  	
   
 	
  
364
  
	
  
57
  	
   
 	
  
1
  	
  
 
  	
  
The   Phillips Building
  	
  
 
  	
  
21,700,000.00
  	
   
 	
  
IO
  	
  
 
  	
   
 	
  
 
  	
  
5.8600%
  	
   
 	
  
109,496
  
	
  58
  	
   
 	
  
1
  	
  
 
  	
  
200   Montague Street
  	
  
 
  	
  
21,000,000.00
  	
   
 	
  
IO
  	
  
 
  	
   
 	
  
 
  	
  
5.6600%
  	
   
 	
  
45,335
  
	
  
59
  	
   
 	
  
2
  	
  
 
  	
  
Marquis   at Carmel Commons Apartments
  	
  
 
  	
  
21,000,000.00
  	
   
 	
  
IO
  	
  
 
  	
  
10 default, 15 late
  	
  
 
  	
  
5.7300%
  	
   
 	
  
312
  
	
  60
  	
   
 	
  
1
  	
  
 
  	
  
Courthouse   Marketplace Retail Center
  	
  
 
  	
  
20,750,000.00
  	
   
 	
  
120,038.90
  	
  
 
  	
   
 	
  
 
  	
  
5.6700%
  	
   
 	
  
103,263
  
	
  
61
  	
   
 	
  
2
  	
  
 
  	
  
The   Depot Apartments
  	
  
 
  	
  
20,560,000.00
  	
   
 	
  
IO
  	
  
 
  	
  
0 default, 10 late
  	
  
 
  	
  
5.8100%
  	
   
 	
  
210
  
	
  62
  	
   
 	
  
1
  	
  
 
  	
  
200   South Tryon
  	
  
 
  	
  
20,000,000.00
  	
   
 	
  
IO
  	
  
 
  	
  
0 default, 15 late
  	
  
 
  	
  
5.6600%
  	
   
 	
  
210,426
  
	
  
63
  	
   
 	
  
2
  	
  
 
  	
  
Oaks   at Broad River
  	
  
 
  	
  
20,000,000.00
  	
   
 	
  
IO
  	
  
 
  	
  
5 Default 5 Late
  	
  
 
  	
  
5.7900%
  	
   
 	
  
248
  











	

Mortgage
   Loan
   Number
  	
   
 	
  
Loan Group
   Number
  	
   
 	
  
Property   Name
  	
   
 	
  
Unit of
   Measure
  	
   
 	
  
Original   Term
   to Maturity or
   ARD (Mos.)
  	
   
 	
  
Remaining
   Term to
   Maturity or
   ARD (Mos.)
  	
   
 	
  
Maturity   Date
   or ARD
  	
   
 	
  
Original
   Amort Term
   (Mos.)
  	
   
 	
  
Remaining
   Amort Term
   (Mos.)
  
	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  
	
  11.28
  	
   
 	
   
 	
  
 
  	
  
1520-1524   Geneva Avenue
  	
  
 
  	
  
Units
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  11.29
  	
   
 	
   
 	
  
 
  	
  
1199   DeHaro Street
  	
  
 
  	
  
Units
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
12
  	
   
 	
  
1
  	
  
 
  	
  
Ashford   Hospitality Pool 1
  	
  
 
  	
  
Rooms
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
   
 	
  
360
  	
   
 	
  
360
  
	
  12.01
  	
   
 	
   
 	
  
 
  	
  
Courtyard   - Basking Ridge, NJ
  	
  
 
  	
  
Rooms
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
12.02
  	
   
 	
   
 	
  
 
  	
  
Courtyard   - Oakland Airport, CA
  	
  
 
  	
  
Rooms
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  12.03
  	
   
 	
   
 	
  
 
  	
  
Courtyard   - Scottsdale, AZ
  	
  
 
  	
  
Rooms
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
12.04
  	
   
 	
   
 	
  
 
  	
  
Courtyard   - Plano, TX
  	
  
 
  	
  
Rooms
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  12.05
  	
   
 	
   
 	
  
 
  	
  
Courtyard   - Newark, CA
  	
  
 
  	
  
Rooms
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
13
  	
   
 	
  
1
  	
  
 
  	
  
Osprey   Pool
  	
  
 
  	
  
Sq. Ft.
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  13.01
  	
   
 	
   
 	
  
 
  	
  
First   Citizens Plaza
  	
  
 
  	
  
Sq. Ft.
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
13.02
  	
   
 	
   
 	
  
 
  	
  
Sarasota   City Center
  	
  
 
  	
  
Sq. Ft.
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  14
  	
   
 	
  
2
  	
  
 
  	
  
City   Heights Apartment Homes(6)
  	
  
 
  	
  
Units
  	
   
 	
  
120
  	
   
 	
  
118
  	
   
 	
  
03/11/17
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  
15
  	
   
 	
  
1
  	
  
 
  	
  
Ponte   Vedra Inn & Club
  	
  
 
  	
  
Rooms
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
   
 	
  
360
  	
   
 	
  
360
  
	
  16
  	
   
 	
  
2
  	
  
 
  	
  
Clinton   Manor
  	
  
 
  	
  
Units
  	
   
 	
  
120
  	
   
 	
  
120
  	
   
 	
  
05/01/17
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  
17
  	
   
 	
  
1
  	
  
 
  	
  
Southern   Palm Crossing Shopping Center (7)
  	
  
 
  	
  
Sq. Ft.
  	
   
 	
  
120
  	
   
 	
  
120
  	
   
 	
  
05/11/17
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  18
  	
   
 	
  
1
  	
  
 
  	
  
635   Madison Avenue
  	
  
 
  	
  
Sq. Ft.
  	
   
 	
  
120
  	
   
 	
  
118
  	
   
 	
  
03/11/17
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  
19
  	
   
 	
  
1
  	
  
 
  	
  
Cherry   Hill Corporate Center Pool
  	
  
 
  	
  
Sq. Ft.
  	
   
 	
  
120
  	
   
 	
  
118
  	
   
 	
  
03/11/17
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  19.01
  	
   
 	
   
 	
  
 
  	
  
24-42   Cherry Hill Drive
  	
  
 
  	
  
Sq. Ft.
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
19.02
  	
   
 	
   
 	
  
 
  	
  
71   Cherry Hill Drive
  	
  
 
  	
  
Sq. Ft.
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  19.03
  	
   
 	
   
 	
  
 
  	
  
35   Cherry Hill Drive
  	
  
 
  	
  
Sq. Ft.
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
19.04
  	
   
 	
   
 	
  
 
  	
  
37   Cherry Hill Drive
  	
  
 
  	
  
Sq. Ft.
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  19.05
  	
   
 	
   
 	
  
 
  	
  
33   Cherry Hill Drive
  	
  
 
  	
  
Sq. Ft.
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
19.06
  	
   
 	
   
 	
  
 
  	
  
54   Cherry Hill Drive
  	
  
 
  	
  
Sq. Ft.
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  19.07
  	
   
 	
   
 	
  
 
  	
  
72   Cherry Hill Drive
  	
  
 
  	
  
Sq. Ft.
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
19.08
  	
   
 	
   
 	
  
 
  	
  
66   Cherry Hill Drive
  	
  
 
  	
  
Sq. Ft.
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  19.09
  	
   
 	
   
 	
  
 
  	
  
5   Cherry Hill Drive
  	
  
 
  	
  
Sq. Ft.
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
20
  	
   
 	
  
1
  	
  
 
  	
  
First   Colony Commons
  	
  
 
  	
  
Sq. Ft.
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  21
  	
   
 	
  
1
  	
  
 
  	
  
611   West 6th Street
  	
  
 
  	
  
Sq. Ft.
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  
22
  	
   
 	
  
2
  	
  
 
  	
  
Addison   at Swift Creek Apartments
  	
  
 
  	
  
Units
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  23
  	
   
 	
  
1
  	
  
 
  	
  
Corporate   Plaza
  	
  
 
  	
  
Sq. Ft.
  	
   
 	
  
120
  	
   
 	
  
118
  	
   
 	
  
03/11/17
  	
   
 	
  
360
  	
   
 	
  
360
  
	
  
24
  	
   
 	
  
2
  	
  
 
  	
  
Park   Place Apartments
  	
  
 
  	
  
Units
  	
   
 	
  
120
  	
   
 	
  
118
  	
   
 	
  
03/11/17
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  25
  	
   
 	
  
1
  	
  
 
  	
  
Central   Texas Marketplace
  	
  
 
  	
  
Sq. Ft.
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  
26
  	
   
 	
  
1
  	
  
 
  	
  
East   Gate Square Phase II
  	
  
 
  	
  
Sq. Ft.
  	
   
 	
  
120
  	
   
 	
  
118
  	
   
 	
  
03/11/17
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  27
  	
   
 	
  
1
  	
  
 
  	
  
Saint   Louis Marriott West(8)
  	
  
 
  	
  
Rooms
  	
   
 	
  
120
  	
   
 	
  
118
  	
   
 	
  
03/11/17
  	
   
 	
  
360
  	
   
 	
  
360
  
	
  
28
  	
   
 	
  
1
  	
  
 
  	
  
FMC   Technologies
  	
  
 
  	
  
Sq. Ft.
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  29
  	
   
 	
  
1
  	
  
 
  	
  
1020   19th Street
  	
  
 
  	
  
Sq. Ft.
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  
30
  	
   
 	
  
1
  	
  
 
  	
  
1920   L Street
  	
  
 
  	
  
Sq. Ft.
  	
   
 	
  
120
  	
   
 	
  
116
  	
   
 	
  
01/11/17
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  31
  	
   
 	
  
1
  	
  
 
  	
  
Scottsdale   Medical Office(9)
  	
  
 
  	
  
Sq. Ft.
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  
32
  	
   
 	
  
2
  	
  
 
  	
  
Jacobs   Woods
  	
  
 
  	
  
Units
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/01/17
  	
   
 	
  
360
  	
   
 	
  
360
  
	
  33
  	
   
 	
  
2
  	
  
 
  	
  
The   Overlook at St. Thomas Apartments
  	
  
 
  	
  
Units
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
   
 	
  
360
  	
   
 	
  
359
  
	
  
34
  	
   
 	
  
1
  	
  
 
  	
  
Toll   Brothers Corporate Headquarters
  	
  
 
  	
  
Sq. Ft.
  	
   
 	
  
120
  	
   
 	
  
118
  	
   
 	
  
03/11/17
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  35
  	
   
 	
  
2
  	
  
 
  	
  
Marquis   at Caprock Canyon
  	
  
 
  	
  
Units
  	
   
 	
  
84
  	
   
 	
  
83
  	
   
 	
  
04/11/14
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  
36
  	
   
 	
  
2
  	
  
 
  	
  
Regent   Apartments
  	
  
 
  	
  
Units
  	
   
 	
  
60
  	
   
 	
  
57
  	
   
 	
  
02/11/12
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  37
  	
   
 	
  
1
  	
  
 
  	
  
1900   L Street
  	
  
 
  	
  
Sq. Ft.
  	
   
 	
  
120
  	
   
 	
  
117
  	
   
 	
  
02/11/17
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  
38
  	
   
 	
  
2
  	
  
 
  	
  
Colonial   Grande at Promenade
  	
  
 
  	
  
Units
  	
   
 	
  
120
  	
   
 	
  
118
  	
   
 	
  
03/11/17
  	
   
 	
  
360
  	
   
 	
  
360
  
	
  39
  	
   
 	
  
1
  	
  
 
  	
  
Whittier   Marketplace
  	
  
 
  	
  
Sq. Ft.
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  
40
  	
   
 	
  
2
  	
  
 
  	
  
Wynn   Palms Apartments
  	
  
 
  	
  
Units
  	
   
 	
  
60
  	
   
 	
  
59
  	
   
 	
  
04/11/12
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  41
  	
   
 	
  
2
  	
  
 
  	
  
Main   Street Village Apartments I&II
  	
  
 
  	
  
Units
  	
   
 	
  
60
  	
   
 	
  
57
  	
   
 	
  
02/11/12
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  
42
  	
   
 	
  
1
  	
  
 
  	
  
East   Gate Square Phase IV
  	
  
 
  	
  
Sq. Ft.
  	
   
 	
  
120
  	
   
 	
  
118
  	
   
 	
  
03/11/17
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  43
  	
   
 	
  
1
  	
  
 
  	
  
East   Gate Square Phase V
  	
  
 
  	
  
Sq. Ft.
  	
   
 	
  
120
  	
   
 	
  
118
  	
   
 	
  
03/11/17
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  
44
  	
   
 	
  
1
  	
  
 
  	
  
Doubletree   Hotel - Tucson, AZ(10)
  	
  
 
  	
  
Rooms
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
   
 	
  
360
  	
   
 	
  
359
  
	
  45
  	
   
 	
  
1
  	
  
 
  	
  
Whittier   Center
  	
  
 
  	
  
Sq. Ft.
  	
   
 	
  
120
  	
   
 	
  
117
  	
   
 	
  
02/11/17
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  
46
  	
   
 	
  
1
  	
  
 
  	
  
Durham   Office(11)
  	
  
 
  	
  
Sq. Ft.
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
   
 	
  
360
  	
   
 	
  
360
  
	
  47
  	
   
 	
  
1
  	
  
 
  	
  
35   Nutmeg Drive
  	
  
 
  	
  
Sq. Ft.
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
   
 	
  
360
  	
   
 	
  
360
  
	
  
48
  	
   
 	
  
1
  	
  
 
  	
  
Parkway   400(12)
  	
  
 
  	
  
Sq. Ft.
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
   
 	
  
360
  	
   
 	
  
360
  
	
  49
  	
   
 	
  
1
  	
  
 
  	
  
THF-Fairview   Marketplace
  	
  
 
  	
  
Sq. Ft.
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
   
 	
  
360
  	
   
 	
  
360
  
	
  
50
  	
   
 	
  
2
  	
  
 
  	
  
University   Crescent Student Apartments
  	
  
 
  	
  
Units
  	
   
 	
  
120
  	
   
 	
  
118
  	
   
 	
  
03/11/17
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  51
  	
   
 	
  
1
  	
  
 
  	
  
One   & Two Decatur Town Center(13)
  	
  
 
  	
  
Sq. Ft.
  	
   
 	
  
120
  	
   
 	
  
116
  	
   
 	
  
01/11/17
  	
   
 	
  
360
  	
   
 	
  
360
  
	
  
52
  	
   
 	
  
2
  	
  
 
  	
  
The   Summit
  	
  
 
  	
  
Units
  	
   
 	
  
120
  	
   
 	
  
118
  	
   
 	
  
03/11/17
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  53
  	
   
 	
  
1
  	
  
 
  	
  
Beachwalk   Shopping Center
  	
  
 
  	
  
Sq. Ft.
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  
54
  	
   
 	
  
2
  	
  
 
  	
  
University   Oaks Student Housing
  	
  
 
  	
  
Units
  	
   
 	
  
120
  	
   
 	
  
118
  	
   
 	
  
03/11/17
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  55
  	
   
 	
  
2
  	
  
 
  	
  
Royal   Saint Moritz Apartments
  	
  
 
  	
  
Units
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  
56
  	
   
 	
  
2
  	
  
 
  	
  
Vineyard   Springs Apartments
  	
  
 
  	
  
Units
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
   
 	
  
360
  	
   
 	
  
360
  
	
  57
  	
   
 	
  
1
  	
  
 
  	
  
The   Phillips Building
  	
  
 
  	
  
Sq. Ft.
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  
58
  	
   
 	
  
1
  	
  
 
  	
  
200   Montague Street
  	
  
 
  	
  
Sq. Ft.
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  59
  	
   
 	
  
2
  	
  
 
  	
  
Marquis   at Carmel Commons Apartments
  	
  
 
  	
  
Units
  	
   
 	
  
84
  	
   
 	
  
83
  	
   
 	
  
04/01/14
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  
60
  	
   
 	
  
1
  	
  
 
  	
  
Courthouse   Marketplace Retail Center
  	
  
 
  	
  
Sq. Ft.
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
   
 	
  
360
  	
   
 	
  
360
  
	
  61
  	
   
 	
  
2
  	
  
 
  	
  
The   Depot Apartments
  	
  
 
  	
  
Units
  	
   
 	
  
60
  	
   
 	
  
59
  	
   
 	
  
04/11/12
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  
62
  	
   
 	
  
1
  	
  
 
  	
  
200   South Tryon
  	
  
 
  	
  
Sq. Ft.
  	
   
 	
  
120
  	
   
 	
  
120
  	
   
 	
  
05/11/17
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  63
  	
   
 	
  
2
  	
  
 
  	
  
Oaks   at Broad River
  	
  
 
  	
  
Units
  	
   
 	
  
60
  	
   
 	
  
58
  	
   
 	
  
03/01/12
  	
   
 	
  
IO
  	
   
 	
  
IO
  












	
Mortgage
   Loan
   Number
  	
   
 	
  
Loan Group
   Number
  	
   
 	
  
Property   Name
  	
   
 	
  
Ground   Lease
  	
   
 	
  
Master
   Servicing Fee
   Rate
  	
   
 	
  
ARD Loan
  	
   
 	
  
Anticipated
   Repayment Date
  	
   
 	
  
Additional   Interest Rate
  
	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  
	
  11.28
  	
   
 	
   
 	
  
 
  	
  
1520-1524   Geneva Avenue
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
11.29
  	
   
 	
   
 	
  
 
  	
  
1199   DeHaro Street
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  12
  	
   
 	
  
1
  	
  
 
  	
  
Ashford   Hospitality Pool 1
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
12.01
  	
   
 	
   
 	
  
 
  	
  
Courtyard   - Basking Ridge, NJ
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  12.02
  	
   
 	
   
 	
  
 
  	
  
Courtyard   - Oakland Airport, CA
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
12.03
  	
   
 	
   
 	
  
 
  	
  
Courtyard   - Scottsdale, AZ
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  12.04
  	
   
 	
   
 	
  
 
  	
  
Courtyard   - Plano, TX
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
12.05
  	
   
 	
   
 	
  
 
  	
  
Courtyard   - Newark, CA
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  13
  	
   
 	
  
1
  	
  
 
  	
  
Osprey   Pool
  	
  
 
  	
  
Various
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
13.01
  	
   
 	
   
 	
  
 
  	
  
First   Citizens Plaza
  	
  
 
  	
  
Leasehold
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  13.02
  	
   
 	
   
 	
  
 
  	
  
Sarasota   City Center
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
14
  	
   
 	
  
2
  	
  
 
  	
  
City   Heights Apartment Homes(6)
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  15
  	
   
 	
  
1
  	
  
 
  	
  
Ponte   Vedra Inn & Club
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
16
  	
   
 	
  
2
  	
  
 
  	
  
Clinton   Manor
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  17
  	
   
 	
  
1
  	
  
 
  	
  
Southern   Palm Crossing Shopping Center (7)
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
18
  	
   
 	
  
1
  	
  
 
  	
  
635   Madison Avenue
  	
  
 
  	
  
Leasehold
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  19
  	
   
 	
  
1
  	
  
 
  	
  
Cherry   Hill Corporate Center Pool
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
19.01
  	
   
 	
   
 	
  
 
  	
  
24-42   Cherry Hill Drive
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  19.02
  	
   
 	
   
 	
  
 
  	
  
71   Cherry Hill Drive
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
19.03
  	
   
 	
   
 	
  
 
  	
  
35   Cherry Hill Drive
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  19.04
  	
   
 	
   
 	
  
 
  	
  
37   Cherry Hill Drive
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
19.05
  	
   
 	
   
 	
  
 
  	
  
33   Cherry Hill Drive
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  19.06
  	
   
 	
   
 	
  
 
  	
  
54   Cherry Hill Drive
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
19.07
  	
   
 	
   
 	
  
 
  	
  
72   Cherry Hill Drive
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  19.08
  	
   
 	
   
 	
  
 
  	
  
66   Cherry Hill Drive
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
19.09
  	
   
 	
   
 	
  
 
  	
  
5   Cherry Hill Drive
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  20
  	
   
 	
  
1
  	
  
 
  	
  
First   Colony Commons
  	
  
 
  	
  
Fee
  	
   
 	
  
0.04000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
21
  	
   
 	
  
1
  	
  
 
  	
  
611   West 6th Street
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  22
  	
   
 	
  
2
  	
  
 
  	
  
Addison   at Swift Creek Apartments
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
23
  	
   
 	
  
1
  	
  
 
  	
  
Corporate   Plaza
  	
  
 
  	
  
Leasehold (Includes Fee Simple Air Rights)
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  24
  	
   
 	
  
2
  	
  
 
  	
  
Park   Place Apartments
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
25
  	
   
 	
  
1
  	
  
 
  	
  
Central   Texas Marketplace
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  26
  	
   
 	
  
1
  	
  
 
  	
  
East   Gate Square Phase II
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
27
  	
   
 	
  
1
  	
  
 
  	
  
Saint   Louis Marriott West(8)
  	
  
 
  	
  
Fee
  	
   
 	
  
0.04500%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  28
  	
   
 	
  
1
  	
  
 
  	
  
FMC   Technologies
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
Y
  	
   
 	
  
4/11/2017
  	
   
 	
  
Lesser of initial interest rate plus 2% or the   maximum legal rate
  
	
  
29
  	
   
 	
  
1
  	
  
 
  	
  
1020   19th Street
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  30
  	
   
 	
  
1
  	
  
 
  	
  
1920   L Street
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
31
  	
   
 	
  
1
  	
  
 
  	
  
Scottsdale   Medical Office(9)
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  32
  	
   
 	
  
2
  	
  
 
  	
  
Jacobs   Woods
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
33
  	
   
 	
  
2
  	
  
 
  	
  
The   Overlook at St. Thomas Apartments
  	
  
 
  	
  
Fee
  	
   
 	
  
0.04500%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  34
  	
   
 	
  
1
  	
  
 
  	
  
Toll   Brothers Corporate Headquarters
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
35
  	
   
 	
  
2
  	
  
 
  	
  
Marquis   at Caprock Canyon
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  36
  	
   
 	
  
2
  	
  
 
  	
  
Regent   Apartments
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
37
  	
   
 	
  
1
  	
  
 
  	
  
1900   L Street
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  38
  	
   
 	
  
2
  	
  
 
  	
  
Colonial   Grande at Promenade
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
39
  	
   
 	
  
1
  	
  
 
  	
  
Whittier   Marketplace
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  40
  	
   
 	
  
2
  	
  
 
  	
  
Wynn   Palms Apartments
  	
  
 
  	
  
Fee
  	
   
 	
  
0.04500%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
41
  	
   
 	
  
2
  	
  
 
  	
  
Main   Street Village Apartments I&II
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  42
  	
   
 	
  
1
  	
  
 
  	
  
East   Gate Square Phase IV
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
43
  	
   
 	
  
1
  	
  
 
  	
  
East   Gate Square Phase V
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  44
  	
   
 	
  
1
  	
  
 
  	
  
Doubletree   Hotel - Tucson, AZ(10)
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
45
  	
   
 	
  
1
  	
  
 
  	
  
Whittier   Center
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  46
  	
   
 	
  
1
  	
  
 
  	
  
Durham   Office(11)
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
47
  	
   
 	
  
1
  	
  
 
  	
  
35   Nutmeg Drive
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  48
  	
   
 	
  
1
  	
  
 
  	
  
Parkway   400(12)
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
49
  	
   
 	
  
1
  	
  
 
  	
  
THF-Fairview   Marketplace
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  50
  	
   
 	
  
2
  	
  
 
  	
  
University   Crescent Student Apartments
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
51
  	
   
 	
  
1
  	
  
 
  	
  
One   & Two Decatur Town Center(13)
  	
  
 
  	
  
Both
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  52
  	
   
 	
  
2
  	
  
 
  	
  
The   Summit
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
53
  	
   
 	
  
1
  	
  
 
  	
  
Beachwalk   Shopping Center
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  54
  	
   
 	
  
2
  	
  
 
  	
  
University   Oaks Student Housing
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
55
  	
   
 	
  
2
  	
  
 
  	
  
Royal   Saint Moritz Apartments
  	
  
 
  	
  
Fee
  	
   
 	
  
0.04000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  56
  	
   
 	
  
2
  	
  
 
  	
  
Vineyard   Springs Apartments
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
57
  	
   
 	
  
1
  	
  
 
  	
  
The   Phillips Building
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  58
  	
   
 	
  
1
  	
  
 
  	
  
200   Montague Street
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
59
  	
   
 	
  
2
  	
  
 
  	
  
Marquis   at Carmel Commons Apartments
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  60
  	
   
 	
  
1
  	
  
 
  	
  
Courthouse   Marketplace Retail Center
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
61
  	
   
 	
  
2
  	
  
 
  	
  
The   Depot Apartments
  	
  
 
  	
  
Fee
  	
   
 	
  
0.06000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  62
  	
   
 	
  
1
  	
  
 
  	
  
200   South Tryon
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
63
  	
   
 	
  
2
  	
  
 
  	
  
Oaks   at Broad River
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 











	

Mortgage
   Loan
   Number
  	
   
 	
  
Loan Group
   Number
  	
   
 	
  
Property   Name
  	
   
 	
  
Loan Originator
  	
   
 	
  
Environmental
   Insurance
  	
   
 	
  
Cross
   Collateralized
   and Cross
   Defaulted Loan
   Flag
  	
   
 	
  
Prepayment
   Provisions
  	
   
 	
  
Early
   Defeasance
  	
   
 	
  
Secured by   LC
  
	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  
	
  11.28
  	
   
 	
   
 	
  
 
  	
  
1520-1524   Geneva Avenue
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  11.29
  	
   
 	
   
 	
  
 
  	
  
1199   DeHaro Street
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
12
  	
   
 	
  
1
  	
  
 
  	
  
Ashford   Hospitality Pool 1
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  12.01
  	
   
 	
   
 	
  
 
  	
  
Courtyard   - Basking Ridge, NJ
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
12.02
  	
   
 	
   
 	
  
 
  	
  
Courtyard   - Oakland Airport, CA
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  12.03
  	
   
 	
   
 	
  
 
  	
  
Courtyard   - Scottsdale, AZ
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
12.04
  	
   
 	
   
 	
  
 
  	
  
Courtyard   - Plano, TX
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  12.05
  	
   
 	
   
 	
  
 
  	
  
Courtyard   - Newark, CA
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
13
  	
   
 	
  
1
  	
  
 
  	
  
Osprey   Pool
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  13.01
  	
   
 	
   
 	
  
 
  	
  
First   Citizens Plaza
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
13.02
  	
   
 	
   
 	
  
 
  	
  
Sarasota   City Center
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  14
  	
   
 	
  
2
  	
  
 
  	
  
City   Heights Apartment Homes(6)
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
15
  	
   
 	
  
1
  	
  
 
  	
  
Ponte   Vedra Inn & Club
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  16
  	
   
 	
  
2
  	
  
 
  	
  
Clinton   Manor
  	
  
 
  	
  
Barclays
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
N
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
17
  	
   
 	
  
1
  	
  
 
  	
  
Southern   Palm Crossing Shopping Center (7)
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
Y
  
	
  18
  	
   
 	
  
1
  	
  
 
  	
  
635   Madison Avenue
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
19
  	
   
 	
  
1
  	
  
 
  	
  
Cherry   Hill Corporate Center Pool
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
N
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  19.01
  	
   
 	
   
 	
  
 
  	
  
24-42   Cherry Hill Drive
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
19.02
  	
   
 	
   
 	
  
 
  	
  
71   Cherry Hill Drive
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  19.03
  	
   
 	
   
 	
  
 
  	
  
35   Cherry Hill Drive
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
19.04
  	
   
 	
   
 	
  
 
  	
  
37   Cherry Hill Drive
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  19.05
  	
   
 	
   
 	
  
 
  	
  
33   Cherry Hill Drive
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
19.06
  	
   
 	
   
 	
  
 
  	
  
54   Cherry Hill Drive
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  19.07
  	
   
 	
   
 	
  
 
  	
  
72   Cherry Hill Drive
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
19.08
  	
   
 	
   
 	
  
 
  	
  
66   Cherry Hill Drive
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  19.09
  	
   
 	
   
 	
  
 
  	
  
5   Cherry Hill Drive
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
20
  	
   
 	
  
1
  	
  
 
  	
  
First   Colony Commons
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  21
  	
   
 	
  
1
  	
  
 
  	
  
611   West 6th Street
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
22
  	
   
 	
  
2
  	
  
 
  	
  
Addison   at Swift Creek Apartments
  	
  
 
  	
  
Nomura
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  23
  	
   
 	
  
1
  	
  
 
  	
  
Corporate   Plaza
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
24
  	
   
 	
  
2
  	
  
 
  	
  
Park   Place Apartments
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  25
  	
   
 	
  
1
  	
  
 
  	
  
Central   Texas Marketplace
  	
  
 
  	
  
Nomura
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
N
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
26
  	
   
 	
  
1
  	
  
 
  	
  
East   Gate Square Phase II
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
  
East Gate Portfolio
  	
   
 	
  
N
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  27
  	
   
 	
  
1
  	
  
 
  	
  
Saint   Louis Marriott West(8)
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
N
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
28
  	
   
 	
  
1
  	
  
 
  	
  
FMC   Technologies
  	
  
 
  	
  
Nomura
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
N
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  29
  	
   
 	
  
1
  	
  
 
  	
  
1020   19th Street
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
  
Gravely Portfolio
  	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
30
  	
   
 	
  
1
  	
  
 
  	
  
1920   L Street
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
  
Gravely Portfolio
  	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  31
  	
   
 	
  
1
  	
  
 
  	
  
Scottsdale   Medical Office(9)
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
32
  	
   
 	
  
2
  	
  
 
  	
  
Jacobs   Woods
  	
  
 
  	
  
Barclays
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
N
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  33
  	
   
 	
  
2
  	
  
 
  	
  
The   Overlook at St. Thomas Apartments
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
34
  	
   
 	
  
1
  	
  
 
  	
  
Toll   Brothers Corporate Headquarters
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  35
  	
   
 	
  
2
  	
  
 
  	
  
Marquis   at Caprock Canyon
  	
  
 
  	
  
Nomura
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
36
  	
   
 	
  
2
  	
  
 
  	
  
Regent   Apartments
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
N
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  37
  	
   
 	
  
1
  	
  
 
  	
  
1900   L Street
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
  
Gravely Portfolio
  	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
38
  	
   
 	
  
2
  	
  
 
  	
  
Colonial   Grande at Promenade
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  39
  	
   
 	
  
1
  	
  
 
  	
  
Whittier   Marketplace
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
40
  	
   
 	
  
2
  	
  
 
  	
  
Wynn   Palms Apartments
  	
  
 
  	
  
Nomura
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
N
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  41
  	
   
 	
  
2
  	
  
 
  	
  
Main   Street Village Apartments I&II
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
42
  	
   
 	
  
1
  	
  
 
  	
  
East   Gate Square Phase IV
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
  
East Gate Portfolio
  	
   
 	
  
N
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  43
  	
   
 	
  
1
  	
  
 
  	
  
East   Gate Square Phase V
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
  
East Gate Portfolio
  	
   
 	
  
N
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
44
  	
   
 	
  
1
  	
  
 
  	
  
Doubletree   Hotel - Tucson, AZ(10)
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  45
  	
   
 	
  
1
  	
  
 
  	
  
Whittier   Center
  	
  
 
  	
  
Nomura
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
46
  	
   
 	
  
1
  	
  
 
  	
  
Durham   Office(11)
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  47
  	
   
 	
  
1
  	
  
 
  	
  
35   Nutmeg Drive
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
48
  	
   
 	
  
1
  	
  
 
  	
  
Parkway   400(12)
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  49
  	
   
 	
  
1
  	
  
 
  	
  
THF-Fairview   Marketplace
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
50
  	
   
 	
  
2
  	
  
 
  	
  
University   Crescent Student Apartments
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  51
  	
   
 	
  
1
  	
  
 
  	
  
One   & Two Decatur Town Center(13)
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
Y
  
	
  
52
  	
   
 	
  
2
  	
  
 
  	
  
The   Summit
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  53
  	
   
 	
  
1
  	
  
 
  	
  
Beachwalk   Shopping Center
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
54
  	
   
 	
  
2
  	
  
 
  	
  
University   Oaks Student Housing
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  55
  	
   
 	
  
2
  	
  
 
  	
  
Royal   Saint Moritz Apartments
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
56
  	
   
 	
  
2
  	
  
 
  	
  
Vineyard   Springs Apartments
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  57
  	
   
 	
  
1
  	
  
 
  	
  
The   Phillips Building
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
58
  	
   
 	
  
1
  	
  
 
  	
  
200   Montague Street
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
N
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  59
  	
   
 	
  
2
  	
  
 
  	
  
Marquis   at Carmel Commons Apartments
  	
  
 
  	
  
Nomura
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
60
  	
   
 	
  
1
  	
  
 
  	
  
Courthouse   Marketplace Retail Center
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  61
  	
   
 	
  
2
  	
  
 
  	
  
The   Depot Apartments
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
N
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
62
  	
   
 	
  
1
  	
  
 
  	
  
200   South Tryon
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  63
  	
   
 	
  
2
  	
  
 
  	
  
Oaks   at Broad River
  	
  
 
  	
  
Barclays
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  










	
Mortgage
   Loan
   Number
  	
   
 	
  
Loan Group
   Number
  	
   
 	
  
Property   Name
  	
   
 	
  
Interest
   Accrual
   Method
  	
   
 	
  
Lockbox
  	
   
 	
  
Annual   Deposit to
   Replacement
   Reserves
  	
   
 	
  
Initial   Deposit
   to Capital
   Improvements
   Reserve
  	
   
 	
  
Initial   TI/LC
   Escrow
  	
   
 	
  
Ongoing   TI/LC
   Footnote
  
	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  
	
  11.28
  	
   
 	
   
 	
  
 
  	
  
1520-1524   Geneva Avenue
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
11.29
  	
   
 	
   
 	
  
 
  	
  
1199   DeHaro Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  12
  	
   
 	
  
1
  	
  
 
  	
  
Ashford   Hospitality Pool 1
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Day 1
  	
   
 	
  
4.0% of Yearly Gross Revenue
  	
   
 	
  
24,063
  	
   
 	
   
 	
   
 	
   
 
	
  
12.01
  	
   
 	
   
 	
  
 
  	
  
Courtyard   - Basking Ridge, NJ
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  12.02
  	
   
 	
   
 	
  
 
  	
  
Courtyard   - Oakland Airport, CA
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
12.03
  	
   
 	
   
 	
  
 
  	
  
Courtyard   - Scottsdale, AZ
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  12.04
  	
   
 	
   
 	
  
 
  	
  
Courtyard   - Plano, TX
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
12.05
  	
   
 	
   
 	
  
 
  	
  
Courtyard   - Newark, CA
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  13
  	
   
 	
  
1
  	
  
 
  	
  
Osprey   Pool
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Day 1
  	
   
 	
  
167,208
  	
   
 	
   
 	
   
 	
  
2,863,657
  	
   
 	
   
 
	
  
13.01
  	
   
 	
   
 	
  
 
  	
  
First   Citizens Plaza
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  13.02
  	
   
 	
   
 	
  
 
  	
  
Sarasota   City Center
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
14
  	
   
 	
  
2
  	
  
 
  	
  
City   Heights Apartment Homes(6)
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
59,082
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  15
  	
   
 	
  
1
  	
  
 
  	
  
Ponte   Vedra Inn & Club
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
4.0% of Yearly Gross Revenue
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
16
  	
   
 	
  
2
  	
  
 
  	
  
Clinton   Manor
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Springing
  	
   
 	
  
60,240
  	
   
 	
  
26,875
  	
   
 	
   
 	
   
 	
   
 
	
  17
  	
   
 	
  
1
  	
  
 
  	
  
Southern   Palm Crossing Shopping Center (7)
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
17,302
  	
   
 	
   
 	
   
 	
  
870,000
  	
   
 	
   
 
	
  
18
  	
   
 	
  
1
  	
  
 
  	
  
635   Madison Avenue
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
28,765
  	
   
 	
   
 	
   
 	
   
 	
   
 	
  
(3)
  
	
  19
  	
   
 	
  
1
  	
  
 
  	
  
Cherry   Hill Corporate Center Pool
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
174,463
  	
   
 	
  
284,819
  	
   
 	
  
1,050,000
  	
   
 	
   
 
	
  
19.01
  	
   
 	
   
 	
  
 
  	
  
24-42   Cherry Hill Drive
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  19.02
  	
   
 	
   
 	
  
 
  	
  
71   Cherry Hill Drive
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
19.03
  	
   
 	
   
 	
  
 
  	
  
35   Cherry Hill Drive
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  19.04
  	
   
 	
   
 	
  
 
  	
  
37   Cherry Hill Drive
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
19.05
  	
   
 	
   
 	
  
 
  	
  
33   Cherry Hill Drive
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  19.06
  	
   
 	
   
 	
  
 
  	
  
54   Cherry Hill Drive
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
19.07
  	
   
 	
   
 	
  
 
  	
  
72   Cherry Hill Drive
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  19.08
  	
   
 	
   
 	
  
 
  	
  
66   Cherry Hill Drive
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
19.09
  	
   
 	
   
 	
  
 
  	
  
5   Cherry Hill Drive
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  20
  	
   
 	
  
1
  	
  
 
  	
  
First   Colony Commons
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Springing
  	
   
 	
  
86,125
  	
   
 	
  
39,093
  	
   
 	
  
100,000
  	
   
 	
   
 
	
  
21
  	
   
 	
  
1
  	
  
 
  	
  
611   West 6th Street
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Day 1
  	
   
 	
  
80,400
  	
   
 	
   
 	
   
 	
   
 	
   
 	
  
(3)
  
	
  22
  	
   
 	
  
2
  	
  
 
  	
  
Addison   at Swift Creek Apartments
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
86,400
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
23
  	
   
 	
  
1
  	
  
 
  	
  
Corporate   Plaza
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
27,780
  	
   
 	
   
 	
   
 	
   
 	
   
 	
  
(3)
  
	
  24
  	
   
 	
  
2
  	
  
 
  	
  
Park   Place Apartments
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
25
  	
   
 	
  
1
  	
  
 
  	
  
Central   Texas Marketplace
  	
  
 
  	
  
30/360
  	
   
 	
  
Springing
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  26
  	
   
 	
  
1
  	
  
 
  	
  
East   Gate Square Phase II
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
27
  	
   
 	
  
1
  	
  
 
  	
  
Saint   Louis Marriott West(8)
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
668,354
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  28
  	
   
 	
  
1
  	
  
 
  	
  
FMC   Technologies
  	
  
 
  	
  
30/360
  	
   
 	
  
Day 1
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
29
  	
   
 	
  
1
  	
  
 
  	
  
1020   19th Street
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
32,201
  	
   
 	
  
7,500
  	
   
 	
  
450,000
  	
   
 	
   
 
	
  30
  	
   
 	
  
1
  	
  
 
  	
  
1920   L Street
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
20,263
  	
   
 	
  
35,000
  	
   
 	
  
250,000
  	
   
 	
   
 
	
  
31
  	
   
 	
  
1
  	
  
 
  	
  
Scottsdale   Medical Office(9)
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Springing
  	
   
 	
  
36,992
  	
   
 	
  
13,750
  	
   
 	
  
1,750,000
  	
   
 	
   
 
	
  32
  	
   
 	
  
2
  	
  
 
  	
  
Jacobs   Woods
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
57,504
  	
   
 	
  
98,469
  	
   
 	
   
 	
   
 	
   
 
	
  
33
  	
   
 	
  
2
  	
  
 
  	
  
The   Overlook at St. Thomas Apartments
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  34
  	
   
 	
  
1
  	
  
 
  	
  
Toll   Brothers Corporate Headquarters
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
35
  	
   
 	
  
2
  	
  
 
  	
  
Marquis   at Caprock Canyon
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
67,200
  	
   
 	
  
29,063
  	
   
 	
   
 	
   
 	
   
 
	
  36
  	
   
 	
  
2
  	
  
 
  	
  
Regent   Apartments
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
63,600
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
37
  	
   
 	
  
1
  	
  
 
  	
  
1900   L Street
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
26,099
  	
   
 	
   
 	
   
 	
  
550,000
  	
   
 	
   
 
	
  38
  	
   
 	
  
2
  	
  
 
  	
  
Colonial   Grande at Promenade
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
96,000
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
39
  	
   
 	
  
1
  	
  
 
  	
  
Whittier   Marketplace
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
17,820
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  40
  	
   
 	
  
2
  	
  
 
  	
  
Wynn   Palms Apartments
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Day 1
  	
   
 	
  
118,556
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
41
  	
   
 	
  
2
  	
  
 
  	
  
Main   Street Village Apartments I&II
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
80,000
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  42
  	
   
 	
  
1
  	
  
 
  	
  
East   Gate Square Phase IV
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
43
  	
   
 	
  
1
  	
  
 
  	
  
East   Gate Square Phase V
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  44
  	
   
 	
  
1
  	
  
 
  	
  
Doubletree   Hotel - Tucson, AZ(10)
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
474,617
  	
   
 	
  
85,938
  	
   
 	
   
 	
   
 	
   
 
	
  
45
  	
   
 	
  
1
  	
  
 
  	
  
Whittier   Center
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Day 1
  	
   
 	
  
21,432
  	
   
 	
   
 	
   
 	
   
 	
   
 	
  
(3)
  
	
  46
  	
   
 	
  
1
  	
  
 
  	
  
Durham   Office(11)
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Springing
  	
   
 	
  
55,266
  	
   
 	
  
134,200
  	
   
 	
  
3,500,000
  	
   
 	
   
 
	
  
47
  	
   
 	
  
1
  	
  
 
  	
  
35   Nutmeg Drive
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Day 1
  	
   
 	
  
64,091
  	
   
 	
   
 	
   
 	
  
900,000
  	
   
 	
   
 
	
  48
  	
   
 	
  
1
  	
  
 
  	
  
Parkway   400(12)
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Springing
  	
   
 	
  
28,918
  	
   
 	
   
 	
   
 	
  
3,000,000
  	
   
 	
  
(3)
  
	
  
49
  	
   
 	
  
1
  	
  
 
  	
  
THF-Fairview   Marketplace
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  50
  	
   
 	
  
2
  	
  
 
  	
  
University   Crescent Student Apartments
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
88,740
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
51
  	
   
 	
  
1
  	
  
 
  	
  
One   & Two Decatur Town Center(13)
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
31,371
  	
   
 	
   
 	
   
 	
  
200,000
  	
   
 	
   
 
	
  52
  	
   
 	
  
2
  	
  
 
  	
  
The   Summit
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
90,048
  	
   
 	
  
28,125
  	
   
 	
   
 	
   
 	
   
 
	
  
53
  	
   
 	
  
1
  	
  
 
  	
  
Beachwalk   Shopping Center
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
14,276
  	
   
 	
   
 	
   
 	
  
150,000
  	
   
 	
  
(3)
  
	
  54
  	
   
 	
  
2
  	
  
 
  	
  
University   Oaks Student Housing
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
85,800
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
55
  	
   
 	
  
2
  	
  
 
  	
  
Royal   Saint Moritz Apartments
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
84,000
  	
   
 	
  
20,000
  	
   
 	
   
 	
   
 	
   
 
	
  56
  	
   
 	
  
2
  	
  
 
  	
  
Vineyard   Springs Apartments
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Springing
  	
   
 	
  
82,264
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
57
  	
   
 	
  
1
  	
  
 
  	
  
The   Phillips Building
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Day 1
  	
   
 	
  
36,012
  	
   
 	
  
12,125
  	
   
 	
   
 	
   
 	
  
(3)
  
	
  58
  	
   
 	
  
1
  	
  
 
  	
  
200   Montague Street
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Day 1
  	
   
 	
  
9,067
  	
   
 	
   
 	
   
 	
  
250,000
  	
   
 	
   
 
	
  
59
  	
   
 	
  
2
  	
  
 
  	
  
Marquis   at Carmel Commons Apartments
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
62,400
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  60
  	
   
 	
  
1
  	
  
 
  	
  
Courthouse   Marketplace Retail Center
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
61
  	
   
 	
  
2
  	
  
 
  	
  
The   Depot Apartments
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
42,000
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  62
  	
   
 	
  
1
  	
  
 
  	
  
200   South Tryon
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
63
  	
   
 	
  
2
  	
  
 
  	
  
Oaks   at Broad River
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
49,600
  	
   
 	
  
9,625
  	
   
 	
   
 	
   
 	
   
 












 

	

Mortgage
   Loan
   Number
  	
   
 	
  
Loan Group
   Number
  	
   
 	
  
Property   Name
  	
   
 	
  
Address
  	
   
 	
  
City
  	
   
 	
  
State
  	
   
 	
  
Zip Code
  	
   
 	
  
County
  
	
  


  	
   
 	
  


  	
   
  	
  


  	
   
 	
  


  	
  
-
  	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  
	
  
64
  	
   
 	
  
2
  	
  
 
  	
  
Walker Ranch Apartments
  	
  
 
  	
  
14500 Blanco Road
  	
  
 
  	
  
San Antonio
  	
  
 
  	
  
TX
  	
   
 	
  
78216
  	
  
 
  	
  
Bexar
  
	
  65
  	
   
 	
  
1
  	
  
 
  	
  
14700 Lee Road
  	
  
 
  	
  
14700 Lee Road
  	
  
 
  	
  
Chantilly
  	
  
 
  	
  
VA
  	
   
 	
  
20151
  	
  
 
  	
  
Fairfax
  
	
  
66
  	
   
 	
  
1
  	
  
 
  	
  
East Gate Square Phase III
  	
  
 
  	
  
1420 Nixon Drive
  	
  
 
  	
  
Mount Laurel
  	
  
 
  	
  
NJ
  	
   
 	
  
08054
  	
  
 
  	
  
Burlington
  
	
  67
  	
   
 	
  
1
  	
  
 
  	
  
St. Louis County Office   Pool
  	
  
 
  	
  
Various
  	
  
 
  	
  
Various
  	
  
 
  	
  
MO
  	
   
 	
  
63127
  	
  
 
  	
  
Saint Louis
  
	
  
67.01
  	
   
 	
   
 	
  
 
  	
  
9735 Landmark Parkway Drive
  	
  
 
  	
  
9735 Landmark Parkway Drive
  	
  
 
  	
  
Saint Louis
  	
  
 
  	
  
MO
  	
   
 	
  
63127
  	
  
 
  	
  
Saint Louis
  
	
  67.02
  	
   
 	
   
 	
  
 
  	
  
Laumeier III
  	
  
 
  	
  
3660 South Geyer Road
  	
  
 
  	
  
Saint Louis
  	
  
 
  	
  
MO
  	
   
 	
  
63127
  	
  
 
  	
  
Saint Louis
  
	
  
67.03
  	
   
 	
   
 	
  
 
  	
  
9701 Landmark Parkway Drive
  	
  
 
  	
  
9701 Landmark Parkway Drive
  	
  
 
  	
  
Sunset Hills
  	
  
 
  	
  
MO
  	
   
 	
  
63127
  	
  
 
  	
  
Saint Louis
  
	
  67.04
  	
   
 	
   
 	
  
 
  	
  
9717 Landmark Parkway Drive
  	
  
 
  	
  
9717 Landmark Parkway Drive
  	
  
 
  	
  
Sunset Hills
  	
  
 
  	
  
MO
  	
   
 	
  
63127
  	
  
 
  	
  
Saint Louis
  
	
  
68
  	
   
 	
  
1
  	
  
 
  	
  
Donald Ross Village
  	
  
 
  	
  
4500 Donald Ross Road
  	
  
 
  	
  
Palm Beach Gardens
  	
  
 
  	
  
FL
  	
   
 	
  
33418
  	
  
 
  	
  
Palm Beach
  
	
  69
  	
   
 	
  
1
  	
  
 
  	
  
Peters Pond RV Resort
  	
  
 
  	
  
185 Cotuit Road
  	
  
 
  	
  
Sandwich
  	
  
 
  	
  
MA
  	
   
 	
  
02563
  	
  
 
  	
  
Barnstable
  
	
  
70
  	
   
 	
  
1
  	
  
 
  	
  
5601 Cushing Parkway
  	
  
 
  	
  
5601 Cushing Parkway
  	
  
 
  	
  
Fremont
  	
  
 
  	
  
CA
  	
   
 	
  
94538
  	
  
 
  	
  
Alameda
  
	
  71
  	
   
 	
  
1
  	
  
 
  	
  
901 7th Street
  	
  
 
  	
  
901 7th Street and 637 Eye   Street, NW
  	
  
 
  	
  
Washington
  	
  
 
  	
  
DC
  	
   
 	
  
20001
  	
  
 
  	
  
District Of Columbia
  
	
  
72
  	
   
 	
  
1
  	
  
 
  	
  
1700 Higgins Center
  	
  
 
  	
  
1700 West Higgins Road
  	
  
 
  	
  
Des Plaines
  	
  
 
  	
  
IL
  	
   
 	
  
60018
  	
  
 
  	
  
Cook
  
	
  73
  	
   
 	
  
1
  	
  
 
  	
  
Shop-Rite BayShore
  	
  
 
  	
  
1905 Sunrise Highway
  	
  
 
  	
  
Bay Shore
  	
  
 
  	
  
NY
  	
   
 	
  
11706
  	
  
 
  	
  
Suffolk
  
	
  
74
  	
   
 	
  
2
  	
  
 
  	
  
Pinetree Park ROC
  	
  
 
  	
  
1333 NW 3rd Street
  	
  
 
  	
  
Deerfield Beach
  	
  
 
  	
  
FL
  	
   
 	
  
33442
  	
  
 
  	
  
Broward
  
	
  75
  	
   
 	
  
2
  	
  
 
  	
  
Vista Pointe at the Valley   Apartments(14)
  	
  
 
  	
  
701 Cowboys Parkway
  	
  
 
  	
  
Irving
  	
  
 
  	
  
TX
  	
   
 	
  
75063
  	
  
 
  	
  
Dallas
  
	
  
76
  	
   
 	
  
1
  	
  
 
  	
  
Lexington Green Building I   and II
  	
  
 
  	
  
220 & 230 Lexington Green   Circle
  	
  
 
  	
  
Lexington
  	
  
 
  	
  
KY
  	
   
 	
  
40503
  	
  
 
  	
  
Fayette
  
	
  77
  	
   
 	
  
1
  	
  
 
  	
  
National Archives Building
  	
  
 
  	
  
8801 Kingsridge Drive
  	
  
 
  	
  
Dayton
  	
  
 
  	
  
OH
  	
   
 	
  
45458
  	
  
 
  	
  
Montgomery
  
	
  
78
  	
   
 	
  
2
  	
  
 
  	
  
The Marquis at Quarry   Apartments
  	
  
 
  	
  
384 Treeline Park
  	
  
 
  	
  
San Antonio
  	
  
 
  	
  
TX
  	
   
 	
  
78209
  	
  
 
  	
  
Bexar
  
	
  79
  	
   
 	
  
1
  	
  
 
  	
  
Sherwood Plaza
  	
  
 
  	
  
9990 Fairfax Boulevard
  	
  
 
  	
  
Fairfax
  	
  
 
  	
  
VA
  	
   
 	
  
22030
  	
  
 
  	
  
Fairfax City
  
	
  
80
  	
   
 	
  
1
  	
  
 
  	
  
801 West Easy Street
  	
  
 
  	
  
801 West Easy Street
  	
  
 
  	
  
Rogers
  	
  
 
  	
  
AR
  	
   
 	
  
72756
  	
  
 
  	
  
Benton
  
	
  81
  	
   
 	
  
2
  	
  
 
  	
  
Deerpath On The Lake
  	
  
 
  	
  
10200 North Armenia Avenue
  	
  
 
  	
  
Tampa
  	
  
 
  	
  
FL
  	
   
 	
  
33612
  	
  
 
  	
  
Hillsborough
  
	
  
82
  	
   
 	
  
1
  	
  
 
  	
  
Northridge Promenade   Shopping Center (15)
  	
  
 
  	
  
19510-19530 Nordhoff Street
  	
  
 
  	
  
Northridge
  	
  
 
  	
  
CA
  	
   
 	
  
91324
  	
  
 
  	
  
Los Angeles
  
	
  83
  	
   
 	
  
1
  	
  
 
  	
  
Residence Inn - Charleston,   SC
  	
  
 
  	
  
90 Ripley Point Drive
  	
  
 
  	
  
Charleston
  	
  
 
  	
  
SC
  	
   
 	
  
29407
  	
  
 
  	
  
Charleston
  
	
  
84
  	
   
 	
  
1
  	
  
 
  	
  
15 Broad Street
  	
  
 
  	
  
15 Broad Street
  	
  
 
  	
  
Boston
  	
  
 
  	
  
MA
  	
   
 	
  
02109
  	
  
 
  	
  
Suffolk
  
	
  85
  	
   
 	
  
2
  	
  
 
  	
  
Crossing Place
  	
  
 
  	
  
301 Lippencott Street
  	
  
 
  	
  
Knoxville
  	
  
 
  	
  
TN
  	
   
 	
  
37290
  	
  
 
  	
  
Knox
  
	
  
86
  	
   
 	
  
1
  	
  
 
  	
  
Hilton Garden Inn -   Duncanville, TX(16)
  	
  
 
  	
  
800 North Main Street
  	
  
 
  	
  
Duncanville
  	
  
 
  	
  
TX
  	
   
 	
  
75116
  	
  
 
  	
  
Dallas
  
	
  87
  	
   
 	
  
2
  	
  
 
  	
  
Bremner Woods II Apartments
  	
  
 
  	
  
4501 Sprenkle Lane
  	
  
 
  	
  
Richmond
  	
  
 
  	
  
VA
  	
   
 	
  
23228
  	
  
 
  	
  
Henrico
  
	
  
88
  	
   
 	
  
2
  	
  
 
  	
  
Springfield Apartments
  	
  
 
  	
  
4600 University Drive
  	
  
 
  	
  
Durham
  	
  
 
  	
  
NC
  	
   
 	
  
27707
  	
  
 
  	
  
Durham
  
	
  89
  	
   
 	
  
1
  	
  
 
  	
  
Oakton Corporate Center
  	
  
 
  	
  
10467 White Granite Drive
  	
  
 
  	
  
Oakton
  	
  
 
  	
  
VA
  	
   
 	
  
22124
  	
  
 
  	
  
Fairfax
  
	
  
90
  	
   
 	
  
1
  	
  
 
  	
  
Courtyard Matthews &   Rock Hill Pool
  	
  
 
  	
  
Various
  	
  
 
  	
  
Various
  	
  
 
  	
  
Various
  	
   
 	
  
Various
  	
  
 
  	
  
Various
  
	
  90.01
  	
   
 	
   
 	
  
 
  	
  
Courtyard - Matthews, NC
  	
  
 
  	
  
11425 East Independence   Boulevard
  	
  
 
  	
  
Matthews
  	
  
 
  	
  
NC
  	
   
 	
  
28105
  	
  
 
  	
  
Mecklenburg
  
	
  
90.02
  	
   
 	
   
 	
  
 
  	
  
Courtyard - Rock Hill, SC
  	
  
 
  	
  
1300 River Run Court
  	
  
 
  	
  
Rock Hill
  	
  
 
  	
  
SC
  	
   
 	
  
29732
  	
  
 
  	
  
York
  
	
  91
  	
   
 	
  
2
  	
  
 
  	
  
Springhill
  	
  
 
  	
  
8030 East Lakeside Parkway
  	
  
 
  	
  
Tucson
  	
  
 
  	
  
AZ
  	
   
 	
  
85730
  	
  
 
  	
  
Pima
  
	
  
92
  	
   
 	
  
2
  	
  
 
  	
  
Stoney Brook Apartments
  	
  
 
  	
  
1301 East Dogwood Drive
  	
  
 
  	
  
Mebane
  	
  
 
  	
  
NC
  	
   
 	
  
27302
  	
  
 
  	
  
Alamance County
  
	
  93
  	
   
 	
  
1
  	
  
 
  	
  
East Gate Square Phase VI
  	
  
 
  	
  
1670 Nixon Drive
  	
  
 
  	
  
Moorestown
  	
  
 
  	
  
NJ
  	
   
 	
  
08057
  	
  
 
  	
  
Burlington
  
	
  
94
  	
   
 	
  
2
  	
  
 
  	
  
Valle West Tennis Club   Apartments
  	
  
 
  	
  
13608 Pomerado Road
  	
  
 
  	
  
Poway
  	
  
 
  	
  
CA
  	
   
 	
  
92064
  	
  
 
  	
  
San Diego
  
	
  95
  	
   
 	
  
2
  	
  
 
  	
  
The Tower Apartments
  	
  
 
  	
  
2465 Shoreline Drive
  	
  
 
  	
  
Alameda
  	
  
 
  	
  
CA
  	
   
 	
  
94501
  	
  
 
  	
  
Alameda
  
	
  
96
  	
   
 	
  
1
  	
  
 
  	
  
Capital One Data Center
  	
  
 
  	
  
1500 East Plano Parkway
  	
  
 
  	
  
Plano
  	
  
 
  	
  
TX
  	
   
 	
  
75074
  	
  
 
  	
  
Collin
  
	
  97
  	
   
 	
  
1
  	
  
 
  	
  
Wilmington Courthouse   Parking Garage
  	
  
 
  	
  
6th and North King Streets
  	
  
 
  	
  
Wilmington
  	
  
 
  	
  
DE
  	
   
 	
  
19801
  	
  
 
  	
  
New Castle
  
	
  
98
  	
   
 	
  
2
  	
  
 
  	
  
Belmont Parkway Apartments
  	
  
 
  	
  
4300 Lamplighter Court
  	
  
 
  	
  
Richmond
  	
  
 
  	
  
VA
  	
   
 	
  
23234
  	
  
 
  	
  
Chesterfield
  
	
  99
  	
   
 	
  
1
  	
  
 
  	
  
Cypress Business Center
  	
  
 
  	
  
8301 Cypress Plaza Drive
  	
  
 
  	
  
Jacksonville
  	
  
 
  	
  
FL
  	
   
 	
  
32256
  	
  
 
  	
  
Duval
  
	
  
100
  	
   
 	
  
2
  	
  
 
  	
  
Casas Lindas
  	
  
 
  	
  
699 West Magee Road
  	
  
 
  	
  
Tucson
  	
  
 
  	
  
AZ
  	
   
 	
  
85704
  	
  
 
  	
  
Pima
  
	
  101
  	
   
 	
  
2
  	
  
 
  	
  
Sterling University at the   Junction
  	
  
 
  	
  
5050 Sam Houston Avenue
  	
  
 
  	
  
Huntsville
  	
  
 
  	
  
TX
  	
   
 	
  
77340
  	
  
 
  	
  
Walker
  
	
  
102
  	
   
 	
  
1
  	
  
 
  	
  
Battleground Plaza
  	
  
 
  	
  
3712 Battleground Avenue
  	
  
 
  	
  
Greensboro
  	
  
 
  	
  
NC
  	
   
 	
  
27410
  	
  
 
  	
  
Guilford
  
	
  103
  	
   
 	
  
2
  	
  
 
  	
  
Quail Creek(17)
  	
  
 
  	
  
1651 South Dobson Road
  	
  
 
  	
  
Mesa
  	
  
 
  	
  
AZ
  	
   
 	
  
85202
  	
  
 
  	
  
Maricopa
  
	
  
104
  	
   
 	
  
2
  	
  
 
  	
  
Laurel Pointe Apartments
  	
  
 
  	
  
13607 Cordary Avenue
  	
  
 
  	
  
Hawthorne
  	
  
 
  	
  
CA
  	
   
 	
  
90250
  	
  
 
  	
  
Los Angeles
  
	
  105
  	
   
 	
  
2
  	
  
 
  	
  
Maple Village Apartments
  	
  
 
  	
  
2100 Maple Village Court
  	
  
 
  	
  
Pell City
  	
  
 
  	
  
AL
  	
   
 	
  
35128
  	
  
 
  	
  
Saint Clair
  
	
  
106
  	
   
 	
  
2
  	
  
 
  	
  
Scripps Terrace Apartments(18)
  	
  
 
  	
  
10940 Scripps Ranch   Boulevard
  	
  
 
  	
  
San Diego
  	
  
 
  	
  
CA
  	
   
 	
  
92131
  	
  
 
  	
  
San Diego
  
	
  107
  	
   
 	
  
1
  	
  
 
  	
  
CentrePointe Office(19)(20)
  	
  
 
  	
  
1926 10th Avenue North
  	
  
 
  	
  
Lake Worth
  	
  
 
  	
  
FL
  	
   
 	
  
33461
  	
  
 
  	
  
Palm Beach
  
	
  
108
  	
   
 	
  
2
  	
  
 
  	
  
Rancho Vista Apartments
  	
  
 
  	
  
3663 South Valley View   Boulevard
  	
  
 
  	
  
Las Vegas
  	
  
 
  	
  
NV
  	
   
 	
  
89103
  	
  
 
  	
  
Clark
  
	
  109
  	
   
 	
  
2
  	
  
 
  	
  
Boulders Senior Living   Apartments(21)
  	
  
 
  	
  
3533 Willow Avenue
  	
  
 
  	
  
White Bear Lake
  	
  
 
  	
  
MN
  	
   
 	
  
55110
  	
  
 
  	
  
Ramsey
  
	
  
110
  	
   
 	
  
2
  	
  
 
  	
  
Prospect Place Apartments
  	
  
 
  	
  
1024 Prospect Avenue
  	
  
 
  	
  
Santa Rosa
  	
  
 
  	
  
CA
  	
   
 	
  
95409
  	
  
 
  	
  
Sonoma
  
	
  111
  	
   
 	
  
1
  	
  
 
  	
  
Winchester Court
  	
  
 
  	
  
6600-6740 Winchester Court
  	
  
 
  	
  
Memphis
  	
  
 
  	
  
TN
  	
   
 	
  
38115
  	
  
 
  	
  
Shelby
  
	
  
112
  	
   
 	
  
2
  	
  
 
  	
  
SSK Applewood Pointe
  	
  
 
  	
  
2140 Spring Grove Lane
  	
  
 
  	
  
Middletown
  	
  
 
  	
  
OH
  	
   
 	
  
45044
  	
  
 
  	
  
Butler
  
	
  113
  	
   
 	
  
2
  	
  
 
  	
  
Artists in Residence   Apartments
  	
  
 
  	
  
6161 & 6165 North   Winthrop Avenue
  	
  
 
  	
  
Chicago
  	
  
 
  	
  
IL
  	
   
 	
  
60660
  	
  
 
  	
  
Cook
  
	
  
114
  	
   
 	
  
2
  	
  
 
  	
  
Bayberry Place Townhomes
  	
  
 
  	
  
2300 Deewood Drive
  	
  
 
  	
  
Columbus
  	
  
 
  	
  
OH
  	
   
 	
  
43229
  	
  
 
  	
  
Franklin
  
	
  115
  	
   
 	
  
1
  	
  
 
  	
  
Molly Gibson Lodge
  	
  
 
  	
  
101 West Main Street
  	
  
 
  	
  
Aspen
  	
  
 
  	
  
CO
  	
   
 	
  
81611
  	
  
 
  	
  
Pitkin
  
	
  
116
  	
   
 	
  
1
  	
  
 
  	
  
Tyvola Center
  	
  
 
  	
  
6130 Tyvola Centre Drive
  	
  
 
  	
  
Charlotte
  	
  
 
  	
  
NC
  	
   
 	
  
28217
  	
  
 
  	
  
Mecklenburg
  
	
  117
  	
   
 	
  
2
  	
  
 
  	
  
SSK Ashley Pointe
  	
  
 
  	
  
1115 Penile Road
  	
  
 
  	
  
Louisville
  	
  
 
  	
  
KY
  	
   
 	
  
40272
  	
  
 
  	
  
Jefferson
  
	
  
118
  	
   
 	
  
1
  	
  
 
  	
  
Victoria Crossing
  	
  
 
  	
  
7808 NE Zac Lentz Parkway
  	
  
 
  	
  
Victoria
  	
  
 
  	
  
TX
  	
   
 	
  
77904
  	
  
 
  	
  
Victoria
  











	

Mortgage
   Loan
   Number
  	
   
 	
  
Loan Group
   Number
  	
   
 	
  
Property   Name
  	
   
 	
  
Cut-Off   Date Loan
   Balance ($)
  	
   
 	
  
Monthly   P&I
   Payments ($)
  	
   
 	
  
Grace Days
  	
   
 	
  
Mortgage   Rate (%)
  	
   
 	
  
Number of   Units
  
	
  


  	
   
 	
  


  	
   
  	
  


  	
  
 
  	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  
	
  
64
  	
   
 	
  
2
  	
  
 
  	
  
Walker Ranch Apartments
  	
  
 
  	
  
20,000,000.00
  	
   
 	
  
IO
  	
   
 	
  
0   default, 10 late
  	
   
 	
  
5.3600%
  	
   
 	
  
325
  
	
  65
  	
   
 	
  
1
  	
  
 
  	
  
14700 Lee Road
  	
  
 
  	
  
19,300,000.00
  	
   
 	
  
IO
  	
   
 	
  
5   Default 0 Late
  	
   
 	
  
5.6390%
  	
   
 	
  
84,652
  
	
  
66
  	
   
 	
  
1
  	
  
 
  	
  
East Gate Square Phase III
  	
  
 
  	
  
19,280,000.00
  	
   
 	
  
IO
  	
   
 	
  
5   default (after Lender notice twice per year), 0 late
  	
   
 	
  
5.4800%
  	
   
 	
  
128,898
  
	
  67
  	
   
 	
  
1
  	
  
 
  	
  
St. Louis County Office   Pool
  	
  
 
  	
  
18,500,000.00
  	
   
 	
  
105,971.41
  	
   
 	
   
 	
   
 	
  
5.5800%
  	
   
 	
  
182,955
  
	
  
67.01
  	
   
 	
   
 	
  
 
  	
  
9735 Landmark Parkway Drive
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
84,905
  
	
  67.02
  	
   
 	
   
 	
  
 
  	
  
Laumeier III
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
51,843
  
	
  
67.03
  	
   
 	
   
 	
  
 
  	
  
9701 Landmark Parkway Drive
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
22,600
  
	
  67.04
  	
   
 	
   
 	
  
 
  	
  
9717 Landmark Parkway Drive
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
23,607
  
	
  
68
  	
   
 	
  
1
  	
  
 
  	
  
Donald Ross Village
  	
  
 
  	
  
18,000,000.00
  	
   
 	
  
104,472.08
  	
   
 	
  
0   default, no late charges for first 3 late payments
  	
   
 	
  
5.7000%
  	
   
 	
  
53,709
  
	
  69
  	
   
 	
  
1
  	
  
 
  	
  
Peters Pond RV Resort
  	
  
 
  	
  
18,000,000.00
  	
   
 	
  
116,150.04
  	
   
 	
  
5   Default 5 Late
  	
   
 	
  
6.7000%
  	
   
 	
  
404
  
	
  
70
  	
   
 	
  
1
  	
  
 
  	
  
5601 Cushing Parkway
  	
  
 
  	
  
17,670,000.00
  	
   
 	
  
105,146.66
  	
   
 	
  
5   Default 5 Late
  	
   
 	
  
5.9300%
  	
   
 	
  
50,654
  
	
  71
  	
   
 	
  
1
  	
  
 
  	
  
901 7th Street
  	
  
 
  	
  
17,250,000.00
  	
   
 	
  
IO
  	
   
 	
   
 	
   
 	
  
5.7700%
  	
   
 	
  
39,236
  
	
  
72
  	
   
 	
  
1
  	
  
 
  	
  
1700 Higgins Center
  	
  
 
  	
  
17,000,000.00
  	
   
 	
  
IO
  	
   
 	
  
5   Default 0 Late
  	
   
 	
  
6.2500%
  	
   
 	
  
137,095
  
	
  73
  	
   
 	
  
1
  	
  
 
  	
  
Shop-Rite BayShore
  	
  
 
  	
  
17,000,000.00
  	
   
 	
  
100,833.21
  	
   
 	
  
5   Default 5 Late
  	
   
 	
  
5.9000%
  	
   
 	
  
60,000
  
	
  
74
  	
   
 	
  
2
  	
  
 
  	
  
Pinetree Park ROC
  	
  
 
  	
  
16,800,000.00
  	
   
 	
  
IO
  	
   
 	
   
 	
   
 	
  
6.0000%
  	
   
 	
  
315
  
	
  75
  	
   
 	
  
2
  	
  
 
  	
  
Vista Pointe at the Valley   Apartments(14)
  	
  
 
  	
  
16,480,000.00
  	
   
 	
  
IO
  	
   
 	
   
 	
   
 	
  
5.6600%
  	
   
 	
  
231
  
	
  
76
  	
   
 	
  
1
  	
  
 
  	
  
Lexington Green Building I   and II
  	
  
 
  	
  
16,400,000.00
  	
   
 	
  
94,874.12
  	
   
 	
   
 	
   
 	
  
5.6700%
  	
   
 	
  
150,711
  
	
  77
  	
   
 	
  
1
  	
  
 
  	
  
National Archives Building
  	
  
 
  	
  
16,400,000.00
  	
   
 	
  
95,289.62
  	
   
 	
   
 	
   
 	
  
5.7100%
  	
   
 	
  
217,394
  
	
  
78
  	
   
 	
  
2
  	
  
 
  	
  
The Marquis at Quarry Apartments
  	
  
 
  	
  
16,016,000.00
  	
   
 	
  
IO
  	
   
 	
  
0   default, 10 late
  	
   
 	
  
5.8750%
  	
   
 	
  
224
  
	
  79
  	
   
 	
  
1
  	
  
 
  	
  
Sherwood Plaza
  	
  
 
  	
  
15,700,000.00
  	
   
 	
  
IO
  	
   
 	
  
5   Default 0 Late
  	
   
 	
  
5.6390%
  	
   
 	
  
92,960
  
	
  
80
  	
   
 	
  
1
  	
  
 
  	
  
801 West Easy Street
  	
  
 
  	
  
15,600,000.00
  	
   
 	
  
112,303.90
  	
   
 	
  
5   Default 5 Late
  	
   
 	
  
6.0600%
  	
   
 	
  
165,000
  
	
  81
  	
   
 	
  
2
  	
  
 
  	
  
Deerpath On The Lake
  	
  
 
  	
  
15,150,000.00
  	
   
 	
  
86,877.46
  	
   
 	
  
5   Default 5 Late
  	
   
 	
  
5.5900%
  	
   
 	
  
292
  
	
  
82
  	
   
 	
  
1
  	
  
 
  	
  
Northridge Promenade   Shopping Center (15)
  	
  
 
  	
  
15,100,000.00
  	
   
 	
  
88,695.89
  	
   
 	
   
 	
   
 	
  
5.4600%
  	
   
 	
  
90,344
  
	
  83
  	
   
 	
  
1
  	
  
 
  	
  
Residence Inn - Charleston,   SC
  	
  
 
  	
  
15,075,000.00
  	
   
 	
  
89,415.33
  	
   
 	
  
5   Default 5 Late
  	
   
 	
  
5.9000%
  	
   
 	
  
119
  
	
  
84
  	
   
 	
  
1
  	
  
 
  	
  
15 Broad Street
  	
  
 
  	
  
15,000,000.00
  	
   
 	
  
IO
  	
   
 	
   
 	
   
 	
  
5.8000%
  	
   
 	
  
70,787
  
	
  85
  	
   
 	
  
2
  	
  
 
  	
  
Crossing Place
  	
  
 
  	
  
14,950,000.00
  	
   
 	
  
IO
  	
   
 	
   
 	
   
 	
  
6.0000%
  	
   
 	
  
192
  
	
  
86
  	
   
 	
  
1
  	
  
 
  	
  
Hilton Garden Inn -   Duncanville, TX(16)
  	
  
 
  	
  
14,200,000.00
  	
   
 	
  
84,043.74
  	
   
 	
   
 	
   
 	
  
5.8800%
  	
   
 	
  
142
  
	
  87
  	
   
 	
  
2
  	
  
 
  	
  
Bremner Woods II Apartments
  	
  
 
  	
  
13,640,000.00
  	
   
 	
  
IO
  	
   
 	
   
 	
   
 	
  
5.7800%
  	
   
 	
  
201
  
	
  
88
  	
   
 	
  
2
  	
  
 
  	
  
Springfield Apartments
  	
  
 
  	
  
13,575,000.00
  	
   
 	
  
76,227.80
  	
   
 	
  
0   default, 15 late
  	
   
 	
  
5.4000%
  	
   
 	
  
288
  
	
  89
  	
   
 	
  
1
  	
  
 
  	
  
Oakton Corporate Center
  	
  
 
  	
  
13,500,000.00
  	
   
 	
  
IO
  	
   
 	
  
5   Default 0 Late
  	
   
 	
  
5.6390%
  	
   
 	
  
64,648
  
	
  
90
  	
   
 	
  
1
  	
  
 
  	
  
Courtyard Matthews &   Rock Hill Pool
  	
  
 
  	
  
13,375,000.00
  	
   
 	
  
79,332.01
  	
   
 	
  
5   Default 5 Late
  	
   
 	
  
5.9000%
  	
   
 	
  
211
  
	
  90.01
  	
   
 	
   
 	
  
 
  	
  
Courtyard - Matthews, NC
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
121
  
	
  
90.02
  	
   
 	
   
 	
  
 
  	
  
Courtyard - Rock Hill, SC
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
90
  
	
  91
  	
   
 	
  
2
  	
  
 
  	
  
Springhill
  	
  
 
  	
  
13,295,000.00
  	
   
 	
  
IO
  	
   
 	
   
 	
   
 	
  
5.9400%
  	
   
 	
  
224
  
	
  
92
  	
   
 	
  
2
  	
  
 
  	
  
Stoney Brook Apartments
  	
  
 
  	
  
13,200,000.00
  	
   
 	
  
IO
  	
   
 	
  
0   default, 15 late
  	
   
 	
  
6.1300%
  	
   
 	
  
192
  
	
  93
  	
   
 	
  
1
  	
  
 
  	
  
East Gate Square Phase VI
  	
  
 
  	
  
13,140,000.00
  	
   
 	
  
IO
  	
   
 	
  
5   default (after Lender notice twice per year), 0 late
  	
   
 	
  
5.4800%
  	
   
 	
  
36,273
  
	
  
94
  	
   
 	
  
2
  	
  
 
  	
  
Valle West Tennis Club   Apartments
  	
  
 
  	
  
12,760,000.00
  	
   
 	
  
IO
  	
   
 	
   
 	
   
 	
  
5.6000%
  	
   
 	
  
128
  
	
  95
  	
   
 	
  
2
  	
  
 
  	
  
The Tower Apartments
  	
  
 
  	
  
12,675,000.00
  	
   
 	
  
IO
  	
   
 	
   
 	
   
 	
  
5.8800%
  	
   
 	
  
76
  
	
  
96
  	
   
 	
  
1
  	
  
 
  	
  
Capital One Data Center
  	
  
 
  	
  
12,500,000.00
  	
   
 	
  
IO
  	
   
 	
   
 	
   
 	
  
5.6600%
  	
   
 	
  
40,966
  
	
  97
  	
   
 	
  
1
  	
  
 
  	
  
Wilmington Courthouse   Parking Garage
  	
  
 
  	
  
12,177,037.52
  	
   
 	
  
72,128.63
  	
   
 	
   
 	
   
 	
  
5.8700%
  	
   
 	
  
30,000
  
	
  
98
  	
   
 	
  
2
  	
  
 
  	
  
Belmont Parkway Apartments
  	
  
 
  	
  
12,000,000.00
  	
   
 	
  
IO
  	
   
 	
   
 	
   
 	
  
5.9700%
  	
   
 	
  
201
  
	
  99
  	
   
 	
  
1
  	
  
 
  	
  
Cypress Business Center
  	
  
 
  	
  
12,000,000.00
  	
   
 	
  
69,496.04
  	
   
 	
   
 	
   
 	
  
5.6800%
  	
   
 	
  
121,758
  
	
  
100
  	
   
 	
  
2
  	
  
 
  	
  
Casas Lindas
  	
  
 
  	
  
11,513,000.00
  	
   
 	
  
IO
  	
   
 	
   
 	
   
 	
  
5.9400%
  	
   
 	
  
144
  
	
  101
  	
   
 	
  
2
  	
  
 
  	
  
Sterling University at the   Junction
  	
  
 
  	
  
11,505,000.00
  	
   
 	
  
IO
  	
   
 	
  
0   default, 10 late
  	
   
 	
  
6.0000%
  	
   
 	
  
160
  
	
  
102
  	
   
 	
  
1
  	
  
 
  	
  
Battleground Plaza
  	
  
 
  	
  
11,440,000.00
  	
   
 	
  
67,489.24
  	
   
 	
  
0   default, 15 late
  	
   
 	
  
5.8500%
  	
   
 	
  
145,625
  
	
  103
  	
   
 	
  
2
  	
  
 
  	
  
Quail Creek(17)
  	
  
 
  	
  
11,160,000.00
  	
   
 	
  
IO
  	
   
 	
   
 	
   
 	
  
6.1800%
  	
   
 	
  
269
  
	
  
104
  	
   
 	
  
2
  	
  
 
  	
  
Laurel Pointe Apartments
  	
  
 
  	
  
11,155,000.00
  	
   
 	
  
71,168.73
  	
   
 	
   
 	
   
 	
  
6.5900%
  	
   
 	
  
115
  
	
  105
  	
   
 	
  
2
  	
  
 
  	
  
Maple Village Apartments
  	
  
 
  	
  
10,825,000.00
  	
   
 	
  
62,965.61
  	
   
 	
  
5   Default 5 Late
  	
   
 	
  
5.7200%
  	
   
 	
  
160
  
	
  
106
  	
   
 	
  
2
  	
  
 
  	
  
Scripps Terrace Apartments(18)
  	
  
 
  	
  
10,000,000.00
  	
   
 	
  
IO
  	
   
 	
   
 	
   
 	
  
6.3500%
  	
   
 	
  
67
  
	
  107
  	
   
 	
  
1
  	
  
 
  	
  
CentrePointe Office(19)(20)
  	
  
 
  	
  
9,600,000.00
  	
   
 	
  
IO
  	
   
 	
   
 	
   
 	
  
5.8400%
  	
   
 	
  
83,192
  
	
  
108
  	
   
 	
  
2
  	
  
 
  	
  
Rancho Vista Apartments
  	
  
 
  	
  
9,300,000.00
  	
   
 	
  
IO
  	
   
 	
   
 	
   
 	
  
5.9000%
  	
   
 	
  
168
  
	
  109
  	
   
 	
  
2
  	
  
 
  	
  
Boulders Senior Living   Apartments(21)
  	
  
 
  	
  
9,200,000.00
  	
   
 	
  
IO
  	
   
 	
   
 	
   
 	
  
5.6100%
  	
   
 	
  
93
  
	
  
110
  	
   
 	
  
2
  	
  
 
  	
  
Prospect Place Apartments
  	
  
 
  	
  
9,000,000.00
  	
   
 	
  
IO
  	
   
 	
   
 	
   
 	
  
5.8900%
  	
   
 	
  
90
  
	
  111
  	
   
 	
  
1
  	
  
 
  	
  
Winchester Court
  	
  
 
  	
  
8,810,000.00
  	
   
 	
  
IO
  	
   
 	
   
 	
   
 	
  
6.0200%
  	
   
 	
  
251,613
  
	
  
112
  	
   
 	
  
2
  	
  
 
  	
  
SSK Applewood Pointe
  	
  
 
  	
  
8,648,000.00
  	
   
 	
  
51,073.31
  	
   
 	
  
5   Default 5 Late
  	
   
 	
  
5.8600%
  	
   
 	
  
253
  
	
  113
  	
   
 	
  
2
  	
  
 
  	
  
Artists in Residence   Apartments
  	
  
 
  	
  
8,640,000.00
  	
   
 	
  
IO
  	
   
 	
   
 	
   
 	
  
5.7200%
  	
   
 	
  
155
  
	
  
114
  	
   
 	
  
2
  	
  
 
  	
  
Bayberry Place Townhomes
  	
  
 
  	
  
8,640,000.00
  	
   
 	
  
50,146.60
  	
   
 	
   
 	
   
 	
  
5.7000%
  	
   
 	
  
296
  
	
  115
  	
   
 	
  
1
  	
  
 
  	
  
Molly Gibson Lodge
  	
  
 
  	
  
8,600,000.00
  	
   
 	
  
55,673.07
  	
   
 	
  
5   Default 5 Late
  	
   
 	
  
6.0500%
  	
   
 	
  
52
  
	
  
116
  	
   
 	
  
1
  	
  
 
  	
  
Tyvola Center
  	
  
 
  	
  
8,500,000.00
  	
   
 	
  
49,387.91
  	
   
 	
  
0   default, 15 late
  	
   
 	
  
5.7100%
  	
   
 	
  
52,000
  
	
  117
  	
   
 	
  
2
  	
  
 
  	
  
SSK Ashley Pointe
  	
  
 
  	
  
8,350,000.00
  	
   
 	
  
49,313.38
  	
   
 	
  
5   Default 5 Late
  	
   
 	
  
5.8600%
  	
   
 	
  
329
  
	
  
118
  	
   
 	
  
1
  	
  
 
  	
  
Victoria Crossing
  	
  
 
  	
  
8,288,000.00
  	
   
 	
  
IO
  	
   
 	
   
 	
   
 	
  
5.7100%
  	
   
 	
  
86,725
  












 

	

Mortgage
   Loan
   Number
  	
   
 	
  
Loan Group
   Number
  	
   
 	
  
Property   Name
  	
   
 	
  
Unit of
   Measure
  	
   
 	
  
Original   Term
   to Maturity or
   ARD (Mos.)
  	
   
 	
  
Remaining
   Term to
   Maturity or
   ARD (Mos.)
  	
   
 	
  
Maturity   Date
   or ARD
  	
   
 	
  
Original
   Amort Term
   (Mos.)
  	
   
 	
  
Remaining
   Amort Term
   (Mos.)
  
	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
  	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  
	
  
64
  	
   
 	
  
2
  	
  
 
  	
  
Walker Ranch Apartments
  	
  
 
  	
  
Units
  	
   
 	
  
120
  	
   
 	
  
120
  	
   
 	
  
05/11/17
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  65
  	
   
 	
  
1
  	
  
 
  	
  
14700 Lee Road
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
60
  	
   
 	
  
58
  	
   
 	
  
03/01/12
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  
66
  	
   
 	
  
1
  	
  
 
  	
  
East Gate Square Phase III
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
120
  	
   
 	
  
118
  	
   
 	
  
03/11/17
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  67
  	
   
 	
  
1
  	
  
 
  	
  
St. Louis County Office   Pool
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
   
 	
  
360
  	
   
 	
  
360
  
	
  
67.01
  	
   
 	
   
 	
  
 
  	
  
9735 Landmark Parkway Drive
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  67.02
  	
   
 	
   
 	
  
 
  	
  
Laumeier III
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
67.03
  	
   
 	
   
 	
  
 
  	
  
9701 Landmark Parkway Drive
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  67.04
  	
   
 	
   
 	
  
 
  	
  
9717 Landmark Parkway Drive
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
68
  	
   
 	
  
1
  	
  
 
  	
  
Donald Ross Village
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
120
  	
   
 	
  
120
  	
   
 	
  
05/11/17
  	
   
 	
  
360
  	
   
 	
  
360
  
	
  69
  	
   
 	
  
1
  	
  
 
  	
  
Peters Pond RV Resort
  	
  
 
  	
  
Pads
  	
   
 	
  
60
  	
   
 	
  
58
  	
   
 	
  
03/01/12
  	
   
 	
  
360
  	
   
 	
  
360
  
	
  
70
  	
   
 	
  
1
  	
  
 
  	
  
5601 Cushing Parkway
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
120
  	
   
 	
  
120
  	
   
 	
  
05/01/17
  	
   
 	
  
360
  	
   
 	
  
360
  
	
  71
  	
   
 	
  
1
  	
  
 
  	
  
901 7th Street
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  
72
  	
   
 	
  
1
  	
  
 
  	
  
1700 Higgins Center
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
120
  	
   
 	
  
118
  	
   
 	
  
03/01/17
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  73
  	
   
 	
  
1
  	
  
 
  	
  
Shop-Rite BayShore
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
120
  	
   
 	
  
120
  	
   
 	
  
05/01/17
  	
   
 	
  
360
  	
   
 	
  
360
  
	
  
74
  	
   
 	
  
2
  	
  
 
  	
  
Pinetree Park ROC
  	
  
 
  	
  
Pads
  	
   
 	
  
120
  	
   
 	
  
118
  	
   
 	
  
03/11/17
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  75
  	
   
 	
  
2
  	
  
 
  	
  
Vista Pointe at the Valley   Apartments(14)
  	
  
 
  	
  
Units
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  
76
  	
   
 	
  
1
  	
  
 
  	
  
Lexington Green Building I   and II
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
120
  	
   
 	
  
115
  	
   
 	
  
12/11/16
  	
   
 	
  
360
  	
   
 	
  
360
  
	
  77
  	
   
 	
  
1
  	
  
 
  	
  
National Archives Building
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
   
 	
  
360
  	
   
 	
  
360
  
	
  
78
  	
   
 	
  
2
  	
  
 
  	
  
The Marquis at Quarry   Apartments
  	
  
 
  	
  
Units
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  79
  	
   
 	
  
1
  	
  
 
  	
  
Sherwood Plaza
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
60
  	
   
 	
  
58
  	
   
 	
  
03/01/12
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  
80
  	
   
 	
  
1
  	
  
 
  	
  
801 West Easy Street
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
60
  	
   
 	
  
60
  	
   
 	
  
05/01/12
  	
   
 	
  
240
  	
   
 	
  
240
  
	
  81
  	
   
 	
  
2
  	
  
 
  	
  
Deerpath On The Lake
  	
  
 
  	
  
Units
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/01/17
  	
   
 	
  
360
  	
   
 	
  
360
  
	
  
82
  	
   
 	
  
1
  	
  
 
  	
  
Northridge Promenade Shopping   Center (15)
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
120
  	
   
 	
  
120
  	
   
 	
  
05/11/17
  	
   
 	
  
360
  	
   
 	
  
360
  
	
  83
  	
   
 	
  
1
  	
  
 
  	
  
Residence Inn - Charleston,   SC
  	
  
 
  	
  
Rooms
  	
   
 	
  
120
  	
   
 	
  
117
  	
   
 	
  
02/01/17
  	
   
 	
  
360
  	
   
 	
  
360
  
	
  
84
  	
   
 	
  
1
  	
  
 
  	
  
15 Broad Street
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
120
  	
   
 	
  
118
  	
   
 	
  
03/11/17
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  85
  	
   
 	
  
2
  	
  
 
  	
  
Crossing Place
  	
  
 
  	
  
Units
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  
86
  	
   
 	
  
1
  	
  
 
  	
  
Hilton Garden Inn -   Duncanville, TX(16)
  	
  
 
  	
  
Rooms
  	
   
 	
  
120
  	
   
 	
  
120
  	
   
 	
  
05/11/17
  	
   
 	
  
360
  	
   
 	
  
360
  
	
  87
  	
   
 	
  
2
  	
  
 
  	
  
Bremner Woods II Apartments
  	
  
 
  	
  
Units
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  
88
  	
   
 	
  
2
  	
  
 
  	
  
Springfield Apartments
  	
  
 
  	
  
Units
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
   
 	
  
360
  	
   
 	
  
360
  
	
  89
  	
   
 	
  
1
  	
  
 
  	
  
Oakton Corporate Center
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
60
  	
   
 	
  
58
  	
   
 	
  
03/01/12
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  
90
  	
   
 	
  
1
  	
  
 
  	
  
Courtyard Matthews &   Rock Hill Pool
  	
  
 
  	
  
Rooms
  	
   
 	
  
120
  	
   
 	
  
117
  	
   
 	
  
02/01/17
  	
   
 	
  
360
  	
   
 	
  
360
  
	
  90.01
  	
   
 	
   
 	
  
 
  	
  
Courtyard - Matthews, NC
  	
  
 
  	
  
Rooms
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
90.02
  	
   
 	
   
 	
  
 
  	
  
Courtyard - Rock Hill, SC
  	
  
 
  	
  
Rooms
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  91
  	
   
 	
  
2
  	
  
 
  	
  
Springhill
  	
  
 
  	
  
Units
  	
   
 	
  
120
  	
   
 	
  
118
  	
   
 	
  
03/11/17
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  
92
  	
   
 	
  
2
  	
  
 
  	
  
Stoney Brook Apartments
  	
  
 
  	
  
Units
  	
   
 	
  
120
  	
   
 	
  
118
  	
   
 	
  
03/01/17
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  93
  	
   
 	
  
1
  	
  
 
  	
  
East Gate Square Phase VI
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
120
  	
   
 	
  
118
  	
   
 	
  
03/11/17
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  
94
  	
   
 	
  
2
  	
  
 
  	
  
Valle West Tennis Club   Apartments
  	
  
 
  	
  
Units
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  95
  	
   
 	
  
2
  	
  
 
  	
  
The Tower Apartments
  	
  
 
  	
  
Units
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/06/17
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  
96
  	
   
 	
  
1
  	
  
 
  	
  
Capital One Data Center
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
84
  	
   
 	
  
84
  	
   
 	
  
05/11/14
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  97
  	
   
 	
  
1
  	
  
 
  	
  
Wilmington Courthouse   Parking Garage
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
120
  	
   
 	
  
118
  	
   
 	
  
03/11/17
  	
   
 	
  
360
  	
   
 	
  
358
  
	
  
98
  	
   
 	
  
2
  	
  
 
  	
  
Belmont Parkway Apartments
  	
  
 
  	
  
Units
  	
   
 	
  
120
  	
   
 	
  
118
  	
   
 	
  
03/11/17
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  99
  	
   
 	
  
1
  	
  
 
  	
  
Cypress Business Center
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
120
  	
   
 	
  
116
  	
   
 	
  
01/11/17
  	
   
 	
  
360
  	
   
 	
  
360
  
	
  
100
  	
   
 	
  
2
  	
  
 
  	
  
Casas Lindas
  	
  
 
  	
  
Units
  	
   
 	
  
120
  	
   
 	
  
118
  	
   
 	
  
03/11/17
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  101
  	
   
 	
  
2
  	
  
 
  	
  
Sterling University at the   Junction
  	
  
 
  	
  
Units
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  
102
  	
   
 	
  
1
  	
  
 
  	
  
Battleground Plaza
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
120
  	
   
 	
  
118
  	
   
 	
  
03/11/17
  	
   
 	
  
360
  	
   
 	
  
360
  
	
  103
  	
   
 	
  
2
  	
  
 
  	
  
Quail Creek(17)
  	
  
 
  	
  
Units
  	
   
 	
  
60
  	
   
 	
  
58
  	
   
 	
  
03/11/12
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  
104
  	
   
 	
  
2
  	
  
 
  	
  
Laurel Pointe Apartments
  	
  
 
  	
  
Units
  	
   
 	
  
120
  	
   
 	
  
118
  	
   
 	
  
03/11/17
  	
   
 	
  
360
  	
   
 	
  
360
  
	
  105
  	
   
 	
  
2
  	
  
 
  	
  
Maple Village Apartments
  	
  
 
  	
  
Units
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/01/17
  	
   
 	
  
360
  	
   
 	
  
360
  
	
  
106
  	
   
 	
  
2
  	
  
 
  	
  
Scripps Terrace Apartments(18)
  	
  
 
  	
  
Units
  	
   
 	
  
60
  	
   
 	
  
59
  	
   
 	
  
04/11/12
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  107
  	
   
 	
  
1
  	
  
 
  	
  
CentrePointe Office(19)(20)
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
60
  	
   
 	
  
58
  	
   
 	
  
03/11/12
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  
108
  	
   
 	
  
2
  	
  
 
  	
  
Rancho Vista Apartments
  	
  
 
  	
  
Units
  	
   
 	
  
60
  	
   
 	
  
59
  	
   
 	
  
04/11/12
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  109
  	
   
 	
  
2
  	
  
 
  	
  
Boulders Senior Living   Apartments(21)
  	
  
 
  	
  
Units
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  
110
  	
   
 	
  
2
  	
  
 
  	
  
Prospect Place Apartments
  	
  
 
  	
  
Units
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  111
  	
   
 	
  
1
  	
  
 
  	
  
Winchester Court
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
60
  	
   
 	
  
54
  	
   
 	
  
11/11/11
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  
112
  	
   
 	
  
2
  	
  
 
  	
  
SSK Applewood Pointe
  	
  
 
  	
  
Pads
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/01/17
  	
   
 	
  
360
  	
   
 	
  
360
  
	
  113
  	
   
 	
  
2
  	
  
 
  	
  
Artists in Residence   Apartments
  	
  
 
  	
  
Units
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
   
 	
  
IO
  	
   
 	
  
IO
  
	
  
114
  	
   
 	
  
2
  	
  
 
  	
  
Bayberry Place Townhomes
  	
  
 
  	
  
Units
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
   
 	
  
360
  	
   
 	
  
360
  
	
  115
  	
   
 	
  
1
  	
  
 
  	
  
Molly Gibson Lodge
  	
  
 
  	
  
Rooms
  	
   
 	
  
120
  	
   
 	
  
120
  	
   
 	
  
05/01/17
  	
   
 	
  
300
  	
   
 	
  
300
  
	
  
116
  	
   
 	
  
1
  	
  
 
  	
  
Tyvola Center
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
   
 	
  
360
  	
   
 	
  
360
  
	
  117
  	
   
 	
  
2
  	
  
 
  	
  
SSK Ashley Pointe
  	
  
 
  	
  
Pads
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/01/17
  	
   
 	
  
360
  	
   
 	
  
360
  
	
  
118
  	
   
 	
  
1
  	
  
 
  	
  
Victoria Crossing
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
120
  	
   
 	
  
117
  	
   
 	
  
02/11/17
  	
   
 	
  
IO
  	
   
 	
  
IO
  












 

	

Mortgage
   Loan
   Number
  	
   
 	
  
Loan Group
   Number
  	
   
 	
  
Property   Name
  	
   
 	
  
Ground   Lease
  	
   
 	
  
Master
   Servicing Fee
   Rate
  	
   
 	
  
ARD Loan
  	
   
 	
  
Anticipated
   Repayment Date
  	
   
 	
  
Additional   Interest Rate
  
	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  
	
  64
  	
   
 	
  
2
  	
  
 
  	
  
Walker Ranch Apartments
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  65
  	
   
 	
  
1
  	
  
 
  	
  
14700 Lee Road
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
66
  	
   
 	
  
1
  	
  
 
  	
  
East Gate Square Phase III
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  67
  	
   
 	
  
1
  	
  
 
  	
  
St. Louis County Office Pool
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
67.01
  	
   
 	
   
 	
  
 
  	
  
9735 Landmark Parkway Drive
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  67.02
  	
   
 	
   
 	
  
 
  	
  
Laumeier III
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
67.03
  	
   
 	
   
 	
  
 
  	
  
9701 Landmark Parkway Drive
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  67.04
  	
   
 	
   
 	
  
 
  	
  
9717 Landmark Parkway Drive
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
68
  	
   
 	
  
1
  	
  
 
  	
  
Donald Ross Village
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  69
  	
   
 	
  
1
  	
  
 
  	
  
Peters Pond RV Resort
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
70
  	
   
 	
  
1
  	
  
 
  	
  
5601 Cushing Parkway
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  71
  	
   
 	
  
1
  	
  
 
  	
  
901 7th Street
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
72
  	
   
 	
  
1
  	
  
 
  	
  
1700 Higgins Center
  	
  
 
  	
  
Both
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  73
  	
   
 	
  
1
  	
  
 
  	
  
Shop-Rite BayShore
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
74
  	
   
 	
  
2
  	
  
 
  	
  
Pinetree Park ROC
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  75
  	
   
 	
  
2
  	
  
 
  	
  
Vista Pointe at the Valley   Apartments(14)
  	
  
 
  	
  
Fee
  	
   
 	
  
0.04000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
76
  	
   
 	
  
1
  	
  
 
  	
  
Lexington Green Building I   and II
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  77
  	
   
 	
  
1
  	
  
 
  	
  
National Archives Building
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
78
  	
   
 	
  
2
  	
  
 
  	
  
The Marquis at Quarry   Apartments
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
Y
  	
   
 	
  
4/11/2017
  	
   
 	
  
Greater   of initial interest rate plus 3% or TCMYI plus 3%
  
	
  79
  	
   
 	
  
1
  	
  
 
  	
  
Sherwood Plaza
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
80
  	
   
 	
  
1
  	
  
 
  	
  
801 West Easy Street
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  81
  	
   
 	
  
2
  	
  
 
  	
  
Deerpath On The Lake
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
82
  	
   
 	
  
1
  	
  
 
  	
  
Northridge Promenade   Shopping Center (15)
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  83
  	
   
 	
  
1
  	
  
 
  	
  
Residence Inn - Charleston,   SC
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
84
  	
   
 	
  
1
  	
  
 
  	
  
15 Broad Street
  	
  
 
  	
  
Fee
  	
   
 	
  
0.07000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  85
  	
   
 	
  
2
  	
  
 
  	
  
Crossing Place
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
Y
  	
   
 	
  
4/11/2017
  	
   
 	
  
Greater   of initial interest rate plus 3% or TCMYI plus 3%
  
	
  
86
  	
   
 	
  
1
  	
  
 
  	
  
Hilton Garden Inn -   Duncanville, TX(16)
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  87
  	
   
 	
  
2
  	
  
 
  	
  
Bremner Woods II Apartments
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
88
  	
   
 	
  
2
  	
  
 
  	
  
Springfield Apartments
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  89
  	
   
 	
  
1
  	
  
 
  	
  
Oakton Corporate Center
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
90
  	
   
 	
  
1
  	
  
 
  	
  
Courtyard Matthews &   Rock Hill Pool
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  90.01
  	
   
 	
   
 	
  
 
  	
  
Courtyard - Matthews, NC
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
90.02
  	
   
 	
   
 	
  
 
  	
  
Courtyard - Rock Hill, SC
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  91
  	
   
 	
  
2
  	
  
 
  	
  
Springhill
  	
  
 
  	
  
Fee
  	
   
 	
  
0.07000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
92
  	
   
 	
  
2
  	
  
 
  	
  
Stoney Brook Apartments
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  93
  	
   
 	
  
1
  	
  
 
  	
  
East Gate Square Phase VI
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
94
  	
   
 	
  
2
  	
  
 
  	
  
Valle West Tennis Club   Apartments
  	
  
 
  	
  
Fee
  	
   
 	
  
0.07000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  95
  	
   
 	
  
2
  	
  
 
  	
  
The Tower Apartments
  	
  
 
  	
  
Fee
  	
   
 	
  
0.08000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
96
  	
   
 	
  
1
  	
  
 
  	
  
Capital One Data Center
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
Y
  	
   
 	
  
5/11/2014
  	
   
 	
  
Lesser   of initial interest rate plus 2% or the maximum legal rate
  
	
  97
  	
   
 	
  
1
  	
  
 
  	
  
Wilmington Courthouse   Parking Garage
  	
  
 
  	
  
Both
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
98
  	
   
 	
  
2
  	
  
 
  	
  
Belmont Parkway Apartments
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  99
  	
   
 	
  
1
  	
  
 
  	
  
Cypress Business Center
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
100
  	
   
 	
  
2
  	
  
 
  	
  
Casas Lindas
  	
  
 
  	
  
Fee
  	
   
 	
  
0.07000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  101
  	
   
 	
  
2
  	
  
 
  	
  
Sterling University at the   Junction
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
Y
  	
   
 	
  
4/11/2017
  	
   
 	
  
Greater   of initial interest rate plus 3% or TCMYI plus 3%
  
	
  
102
  	
   
 	
  
1
  	
  
 
  	
  
Battleground Plaza
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  103
  	
   
 	
  
2
  	
  
 
  	
  
Quail Creek(17)
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
104
  	
   
 	
  
2
  	
  
 
  	
  
Laurel Pointe Apartments
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  105
  	
   
 	
  
2
  	
  
 
  	
  
Maple Village Apartments
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
106
  	
   
 	
  
2
  	
  
 
  	
  
Scripps Terrace Apartments(18)
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  107
  	
   
 	
  
1
  	
  
 
  	
  
CentrePointe Office(19)(20)
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
108
  	
   
 	
  
2
  	
  
 
  	
  
Rancho Vista Apartments
  	
  
 
  	
  
Fee
  	
   
 	
  
0.07000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  109
  	
   
 	
  
2
  	
  
 
  	
  
Boulders Senior Living   Apartments(21)
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
110
  	
   
 	
  
2
  	
  
 
  	
  
Prospect Place Apartments
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  111
  	
   
 	
  
1
  	
  
 
  	
  
Winchester Court
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
112
  	
   
 	
  
2
  	
  
 
  	
  
SSK Applewood Pointe
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  113
  	
   
 	
  
2
  	
  
 
  	
  
Artists in Residence   Apartments
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
114
  	
   
 	
  
2
  	
  
 
  	
  
Bayberry Place Townhomes
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  115
  	
   
 	
  
1
  	
  
 
  	
  
Molly Gibson Lodge
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
116
  	
   
 	
  
1
  	
  
 
  	
  
Tyvola Center
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  117
  	
   
 	
  
2
  	
  
 
  	
  
SSK Ashley Pointe
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
118
  	
   
 	
  
1
  	
  
 
  	
  
Victoria Crossing
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
Y
  	
   
 	
  
2/11/2017
  	
   
 	
  
Greater   of initial interest rate plus 2% or TCMYI plus 2%
  












 

	

Mortgage
   Loan
   Number
  	
   
 	
  
Loan Group
   Number
  	
   
 	
  
Property   Name
  	
   
 	
  
Loan   Originator
  	
   
 	
  
Environmental
   Insurance
  	
   
 	
  
Cross
   Collateralized
   and Cross
   Defaulted Loan
   Flag
  	
   
 	
  
Prepayment
   Provisions
  	
   
 	
  
Early
   Defeasance
  	
   
 	
  
Secured by   LC
  
	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  
	
  64
  	
   
 	
  
2
  	
  
 
  	
  
Walker Ranch Apartments
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  65
  	
   
 	
  
1
  	
  
 
  	
  
14700 Lee Road
  	
  
 
  	
  
Barclays
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
66
  	
   
 	
  
1
  	
  
 
  	
  
East Gate Square Phase III
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
  
East   Gate Portfolio
  	
   
 	
  
N
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  67
  	
   
 	
  
1
  	
  
 
  	
  
St. Louis County Office   Pool
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
67.01
  	
   
 	
   
 	
  
 
  	
  
9735 Landmark Parkway Drive
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  67.02
  	
   
 	
   
 	
  
 
  	
  
Laumeier III
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
67.03
  	
   
 	
   
 	
  
 
  	
  
9701 Landmark Parkway Drive
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  67.04
  	
   
 	
   
 	
  
 
  	
  
9717 Landmark Parkway Drive
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
68
  	
   
 	
  
1
  	
  
 
  	
  
Donald Ross Village
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  69
  	
   
 	
  
1
  	
  
 
  	
  
Peters Pond RV Resort
  	
  
 
  	
  
Barclays
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
70
  	
   
 	
  
1
  	
  
 
  	
  
5601 Cushing Parkway
  	
  
 
  	
  
Barclays
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  71
  	
   
 	
  
1
  	
  
 
  	
  
901 7th Street
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
72
  	
   
 	
  
1
  	
  
 
  	
  
1700 Higgins Center
  	
  
 
  	
  
Barclays
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  73
  	
   
 	
  
1
  	
  
 
  	
  
Shop-Rite BayShore
  	
  
 
  	
  
Barclays
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
74
  	
   
 	
  
2
  	
  
 
  	
  
Pinetree Park ROC
  	
  
 
  	
  
Nomura
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  75
  	
   
 	
  
2
  	
  
 
  	
  
Vista Pointe at the Valley   Apartments(14)
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
76
  	
   
 	
  
1
  	
  
 
  	
  
Lexington Green Building I   and II
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  77
  	
   
 	
  
1
  	
  
 
  	
  
National Archives Building
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
78
  	
   
 	
  
2
  	
  
 
  	
  
The Marquis at Quarry   Apartments
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
N
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  79
  	
   
 	
  
1
  	
  
 
  	
  
Sherwood Plaza
  	
  
 
  	
  
Barclays
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
80
  	
   
 	
  
1
  	
  
 
  	
  
801 West Easy Street
  	
  
 
  	
  
Barclays
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
N
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  81
  	
   
 	
  
2
  	
  
 
  	
  
Deerpath On The Lake
  	
  
 
  	
  
Barclays
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
N
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
82
  	
   
 	
  
1
  	
  
 
  	
  
Northridge Promenade   Shopping Center (15)
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  83
  	
   
 	
  
1
  	
  
 
  	
  
Residence Inn - Charleston,   SC
  	
  
 
  	
  
Barclays
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
84
  	
   
 	
  
1
  	
  
 
  	
  
15 Broad Street
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  85
  	
   
 	
  
2
  	
  
 
  	
  
Crossing Place
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
N
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
86
  	
   
 	
  
1
  	
  
 
  	
  
Hilton Garden Inn -   Duncanville, TX(16)
  	
  
 
  	
  
Nomura
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  87
  	
   
 	
  
2
  	
  
 
  	
  
Bremner Woods II Apartments
  	
  
 
  	
  
Nomura
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
88
  	
   
 	
  
2
  	
  
 
  	
  
Springfield Apartments
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  89
  	
   
 	
  
1
  	
  
 
  	
  
Oakton Corporate Center
  	
  
 
  	
  
Barclays
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
90
  	
   
 	
  
1
  	
  
 
  	
  
Courtyard Matthews &   Rock Hill Pool
  	
  
 
  	
  
Barclays
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  90.01
  	
   
 	
   
 	
  
 
  	
  
Courtyard - Matthews, NC
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
90.02
  	
   
 	
   
 	
  
 
  	
  
Courtyard - Rock Hill, SC
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  91
  	
   
 	
  
2
  	
  
 
  	
  
Springhill
  	
  
 
  	
  
Nomura
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
92
  	
   
 	
  
2
  	
  
 
  	
  
Stoney Brook Apartments
  	
  
 
  	
  
Nomura
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  93
  	
   
 	
  
1
  	
  
 
  	
  
East Gate Square Phase VI
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
  
East   Gate Portfolio
  	
   
 	
  
N
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
94
  	
   
 	
  
2
  	
  
 
  	
  
Valle West Tennis Club   Apartments
  	
  
 
  	
  
Nomura
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  95
  	
   
 	
  
2
  	
  
 
  	
  
The Tower Apartments
  	
  
 
  	
  
Nomura
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
96
  	
   
 	
  
1
  	
  
 
  	
  
Capital One Data Center
  	
  
 
  	
  
Nomura
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
N
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  97
  	
   
 	
  
1
  	
  
 
  	
  
Wilmington Courthouse   Parking Garage
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
98
  	
   
 	
  
2
  	
  
 
  	
  
Belmont Parkway Apartments
  	
  
 
  	
  
Nomura
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  99
  	
   
 	
  
1
  	
  
 
  	
  
Cypress Business Center
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
100
  	
   
 	
  
2
  	
  
 
  	
  
Casas Lindas
  	
  
 
  	
  
Nomura
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  101
  	
   
 	
  
2
  	
  
 
  	
  
Sterling University at the   Junction
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
N
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
102
  	
   
 	
  
1
  	
  
 
  	
  
Battleground Plaza
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  103
  	
   
 	
  
2
  	
  
 
  	
  
Quail Creek(17)
  	
  
 
  	
  
Nomura
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
N
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
104
  	
   
 	
  
2
  	
  
 
  	
  
Laurel Pointe Apartments
  	
  
 
  	
  
Nomura
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  105
  	
   
 	
  
2
  	
  
 
  	
  
Maple Village Apartments
  	
  
 
  	
  
Barclays
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
106
  	
   
 	
  
2
  	
  
 
  	
  
Scripps Terrace Apartments(18)
  	
  
 
  	
  
Nomura
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  107
  	
   
 	
  
1
  	
  
 
  	
  
CentrePointe Office(19)(20)
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
Y
  
	
  
108
  	
   
 	
  
2
  	
  
 
  	
  
Rancho Vista Apartments
  	
  
 
  	
  
Nomura
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
N
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  109
  	
   
 	
  
2
  	
  
 
  	
  
Boulders Senior Living   Apartments(21)
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
110
  	
   
 	
  
2
  	
  
 
  	
  
Prospect Place Apartments
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  111
  	
   
 	
  
1
  	
  
 
  	
  
Winchester Court
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
112
  	
   
 	
  
2
  	
  
 
  	
  
SSK Applewood Pointe
  	
  
 
  	
  
Barclays
  	
   
 	
  
N
  	
   
 	
  
SSK   Portfolio
  	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  113
  	
   
 	
  
2
  	
  
 
  	
  
Artists in Residence   Apartments
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
114
  	
   
 	
  
2
  	
  
 
  	
  
Bayberry Place Townhomes
  	
  
 
  	
  
Nomura
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  115
  	
   
 	
  
1
  	
  
 
  	
  
Molly Gibson Lodge
  	
  
 
  	
  
Barclays
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
116
  	
   
 	
  
1
  	
  
 
  	
  
Tyvola Center
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  117
  	
   
 	
  
2
  	
  
 
  	
  
SSK Ashley Pointe
  	
  
 
  	
  
Barclays
  	
   
 	
  
N
  	
   
 	
  
SSK   Portfolio
  	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
118
  	
   
 	
  
1
  	
  
 
  	
  
Victoria Crossing
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  











	

Mortgage
   Loan
   Number
  	
   
 	
  
Loan Group
   Number
  	
   
 	
  
Property   Name
  	
   
 	
  
Interest
   Accrual
   Method
  	
   
 	
  
Lockbox
  	
   
 	
  
Annual   Deposit to
   Replacement
   Reserves
  	
   
 	
  
Initial   Deposit
   to Capital
   Improvements
   Reserve
  	
   
 	
  
Initial TI/LC
   Escrow
  	
   
 	
  
Ongoing   TI/LC
   Footnote
  
	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  
	
  64
  	
   
 	
  
2
  	
  
 
  	
  
Walker Ranch Apartments
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
65,000
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  65
  	
   
 	
  
1
  	
  
 
  	
  
14700 Lee Road
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Day   1
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
66
  	
   
 	
  
1
  	
  
 
  	
  
East Gate Square Phase III
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  67
  	
   
 	
  
1
  	
  
 
  	
  
St. Louis County Office   Pool
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
45,726
  	
   
 	
  
38,940
  	
   
 	
  
1,257,000
  	
   
 	
  
(3)
  
	
  
67.01
  	
   
 	
   
 	
  
 
  	
  
9735 Landmark Parkway Drive
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
38,940
  	
   
 	
   
 	
   
 	
   
 
	
  67.02
  	
   
 	
   
 	
  
 
  	
  
Laumeier III
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
67.03
  	
   
 	
   
 	
  
 
  	
  
9701 Landmark Parkway Drive
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  67.04
  	
   
 	
   
 	
  
 
  	
  
9717 Landmark Parkway Drive
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
68
  	
   
 	
  
1
  	
  
 
  	
  
Donald Ross Village
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  69
  	
   
 	
  
1
  	
  
 
  	
  
Peters Pond RV Resort
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Springing
  	
   
 	
  
20,220
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
70
  	
   
 	
  
1
  	
  
 
  	
  
5601 Cushing Parkway
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Day   1
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  71
  	
   
 	
  
1
  	
  
 
  	
  
901 7th Street
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Day   1
  	
   
 	
  
5,885
  	
   
 	
   
 	
   
 	
   
 	
   
 	
  
(3)
  
	
  
72
  	
   
 	
  
1
  	
  
 
  	
  
1700 Higgins Center
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Day   1
  	
   
 	
  
27,419
  	
   
 	
  
36,844
  	
   
 	
  
11,667
  	
   
 	
  
(3)
  
	
  73
  	
   
 	
  
1
  	
  
 
  	
  
Shop-Rite BayShore
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Day   1
  	
   
 	
  
15,593
  	
   
 	
   
 	
   
 	
   
 	
   
 	
  
(3)
  
	
  
74
  	
   
 	
  
2
  	
  
 
  	
  
Pinetree Park ROC
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
   
 	
   
 	
  
15,175
  	
   
 	
   
 	
   
 	
   
 
	
  75
  	
   
 	
  
2
  	
  
 
  	
  
Vista Pointe at the Valley   Apartments(14)
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
61,908
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
76
  	
   
 	
  
1
  	
  
 
  	
  
Lexington Green Building I   and II
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
22,607
  	
   
 	
   
 	
   
 	
  
300,000
  	
   
 	
   
 
	
  77
  	
   
 	
  
1
  	
  
 
  	
  
National Archives Building
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
21,739
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
78
  	
   
 	
  
2
  	
  
 
  	
  
The Marquis at Quarry   Apartments
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Day   1
  	
   
 	
  
33,648
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  79
  	
   
 	
  
1
  	
  
 
  	
  
Sherwood Plaza
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Day   1
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
80
  	
   
 	
  
1
  	
  
 
  	
  
801 West Easy Street
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  81
  	
   
 	
  
2
  	
  
 
  	
  
Deerpath On The Lake
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
73,008
  	
   
 	
  
124,775
  	
   
 	
   
 	
   
 	
   
 
	
  
82
  	
   
 	
  
1
  	
  
 
  	
  
Northridge Promenade   Shopping Center (15)
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
13,552
  	
   
 	
   
 	
   
 	
  
187,873
  	
   
 	
   
 
	
  83
  	
   
 	
  
1
  	
  
 
  	
  
Residence Inn - Charleston,   SC
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Day   1
  	
   
 	
  
215,694
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
84
  	
   
 	
  
1
  	
  
 
  	
  
15 Broad Street
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
12,742
  	
   
 	
   
 	
   
 	
   
 	
   
 	
  
(3)
  
	
  85
  	
   
 	
  
2
  	
  
 
  	
  
Crossing Place
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Day   1
  	
   
 	
  
57,600
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
86
  	
   
 	
  
1
  	
  
 
  	
  
Hilton Garden Inn -   Duncanville, TX(16)
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Day   1
  	
   
 	
  
211,242
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  87
  	
   
 	
  
2
  	
  
 
  	
  
Bremner Woods II Apartments
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
40,200
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
88
  	
   
 	
  
2
  	
  
 
  	
  
Springfield Apartments
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Springing
  	
   
 	
  
64,800
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  89
  	
   
 	
  
1
  	
  
 
  	
  
Oakton Corporate Center
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Day   1
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
90
  	
   
 	
  
1
  	
  
 
  	
  
Courtyard Matthews &   Rock Hill Pool
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Day   1
  	
   
 	
  
262,357
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  90.01
  	
   
 	
   
 	
  
 
  	
  
Courtyard - Matthews, NC
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
90.02
  	
   
 	
   
 	
  
 
  	
  
Courtyard - Rock Hill, SC
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  91
  	
   
 	
  
2
  	
  
 
  	
  
Springhill
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Day   1
  	
   
 	
  
56,000
  	
   
 	
  
313
  	
   
 	
   
 	
   
 	
   
 
	
  
92
  	
   
 	
  
2
  	
  
 
  	
  
Stoney Brook Apartments
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
38,400
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  93
  	
   
 	
  
1
  	
  
 
  	
  
East Gate Square Phase VI
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
94
  	
   
 	
  
2
  	
  
 
  	
  
Valle West Tennis Club Apartments
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Day   1
  	
   
 	
  
32,000
  	
   
 	
  
36,113
  	
   
 	
   
 	
   
 	
   
 
	
  95
  	
   
 	
  
2
  	
  
 
  	
  
The Tower Apartments
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
19,000
  	
   
 	
  
4,375
  	
   
 	
   
 	
   
 	
   
 
	
  
96
  	
   
 	
  
1
  	
  
 
  	
  
Capital One Data Center
  	
  
 
  	
  
30/360
  	
   
 	
  
Springing
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  97
  	
   
 	
  
1
  	
  
 
  	
  
Wilmington Courthouse   Parking Garage
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
29,078
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
98
  	
   
 	
  
2
  	
  
 
  	
  
Belmont Parkway Apartments
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
40,200
  	
   
 	
  
4,625
  	
   
 	
   
 	
   
 	
   
 
	
  99
  	
   
 	
  
1
  	
  
 
  	
  
Cypress Business Center
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
12,176
  	
   
 	
   
 	
   
 	
  
200,000
  	
   
 	
   
 
	
  
100
  	
   
 	
  
2
  	
  
 
  	
  
Casas Lindas
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Day   1
  	
   
 	
  
36,000
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  101
  	
   
 	
  
2
  	
  
 
  	
  
Sterling University at the   Junction
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Day   1
  	
   
 	
  
40,584
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
102
  	
   
 	
  
1
  	
  
 
  	
  
Battleground Plaza
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
21,844
  	
   
 	
  
32,275
  	
   
 	
   
 	
   
 	
   
 
	
  103
  	
   
 	
  
2
  	
  
 
  	
  
Quail Creek(17)
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Springing
  	
   
 	
  
66,174
  	
   
 	
  
4,375
  	
   
 	
   
 	
   
 	
   
 
	
  
104
  	
   
 	
  
2
  	
  
 
  	
  
Laurel Pointe Apartments
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Springing
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  105
  	
   
 	
  
2
  	
  
 
  	
  
Maple Village Apartments
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
32,004
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
106
  	
   
 	
  
2
  	
  
 
  	
  
Scripps Terrace Apartments(18)
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Springing
  	
   
 	
  
14,740
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  107
  	
   
 	
  
1
  	
  
 
  	
  
CentrePointe Office(19)(20)
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
   
 	
   
 	
  
710,000
  	
   
 	
  
225,000
  	
   
 	
   
 
	
  
108
  	
   
 	
  
2
  	
  
 
  	
  
Rancho Vista Apartments
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Day   1
  	
   
 	
  
34,776
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  109
  	
   
 	
  
2
  	
  
 
  	
  
Boulders Senior Living   Apartments(21)
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
46,500
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
110
  	
   
 	
  
2
  	
  
 
  	
  
Prospect Place Apartments
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
16,830
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  111
  	
   
 	
  
1
  	
  
 
  	
  
Winchester Court
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Springing
  	
   
 	
  
36,418
  	
   
 	
  
20,400
  	
   
 	
  
925,000
  	
   
 	
   
 
	
  
112
  	
   
 	
  
2
  	
  
 
  	
  
SSK Applewood Pointe
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Springing
  	
   
 	
  
10,080
  	
   
 	
  
625
  	
   
 	
   
 	
   
 	
   
 
	
  113
  	
   
 	
  
2
  	
  
 
  	
  
Artists in Residence   Apartments
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
35,495
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
114
  	
   
 	
  
2
  	
  
 
  	
  
Bayberry Place Townhomes
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
74,000
  	
   
 	
  
836,250
  	
   
 	
   
 	
   
 	
   
 
	
  115
  	
   
 	
  
1
  	
  
 
  	
  
Molly Gibson Lodge
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Springing
  	
   
 	
  
90,720
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
116
  	
   
 	
  
1
  	
  
 
  	
  
Tyvola Center
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
5,200
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  117
  	
   
 	
  
2
  	
  
 
  	
  
SSK Ashley Pointe
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Springing
  	
   
 	
  
13,200
  	
   
 	
  
625
  	
   
 	
   
 	
   
 	
   
 
	
  
118
  	
   
 	
  
1
  	
  
 
  	
  
Victoria Crossing
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Springing
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 











	

Mortgage
   Loan
   Number
  	
   
 	
  
Loan Group
   Number
  	
   
 	
  
Property   Name
  	
   
 	
  
Address
  	
   
 	
  
City
  	
   
 	
  
State
  	
   
 	
  
Zip Code
  	
   
 	
  
County
  
	
  


  	
   
 	
  


  	
   
  	
  


  	
  
 
  	
  


  	
  
 
  	
  


  	
  
 
  	
  


  	
   
 	
  


  	
  
 
  	
  


  
	
  
119
  	
   
 	
  
2
  	
  
 
  	
  
Sunpointe Apartments
  	
  
 
  	
  
7077 West McDowell Road
  	
  
 
  	
  
Phoenix
  	
  
 
  	
  
AZ
  	
   
 	
  
85035
  	
  
 
  	
  
Maricopa
  
	
  120
  	
   
 	
  
2
  	
  
 
  	
  
Collegiate Suites I
  	
  
 
  	
  
1310 Henry Lane
  	
  
 
  	
  
Blacksburg
  	
  
 
  	
  
VA
  	
   
 	
  
24060
  	
  
 
  	
  
Montgomery
  
	
  
121
  	
   
 	
  
2
  	
  
 
  	
  
Park West Apartments
  	
  
 
  	
  
357 Hillandale Road
  	
  
 
  	
  
Greenville
  	
  
 
  	
  
SC
  	
   
 	
  
29609
  	
  
 
  	
  
Greenville
  
	
  122
  	
   
 	
  
1
  	
  
 
  	
  
Publix at Bayside Lakes
  	
  
 
  	
  
3540 Bayside Lakes   Boulevard SE
  	
  
 
  	
  
Palm Bay
  	
  
 
  	
  
FL
  	
   
 	
  
32909
  	
  
 
  	
  
Brevard
  
	
  
123
  	
   
 	
  
1
  	
  
 
  	
  
Evergreen Distribution   Center
  	
  
 
  	
  
22990 NW Bennett Street
  	
  
 
  	
  
Hillsboro
  	
  
 
  	
  
OR
  	
   
 	
  
97214
  	
  
 
  	
  
Washington
  
	
  124
  	
   
 	
  
1
  	
  
 
  	
  
Hampton Inn - Staunton, VA(22)
  	
  
 
  	
  
40 Payne Lane
  	
  
 
  	
  
Staunton
  	
  
 
  	
  
VA
  	
   
 	
  
24401
  	
  
 
  	
  
Augusta
  
	
  
125
  	
   
 	
  
2
  	
  
 
  	
  
Wickatunk Village MHC
  	
  
 
  	
  
89 Village Road
  	
  
 
  	
  
Morganville
  	
  
 
  	
  
NJ
  	
   
 	
  
07751
  	
  
 
  	
  
Monmouth
  
	
  126
  	
   
 	
  
1
  	
  
 
  	
  
Holiday Inn - Rockford, IL
  	
  
 
  	
  
7550 East State Street
  	
  
 
  	
  
Rockford
  	
  
 
  	
  
IL
  	
   
 	
  
61125
  	
  
 
  	
  
Winnebago
  
	
  
127
  	
   
 	
  
1
  	
  
 
  	
  
Berwick Marketplace
  	
  
 
  	
  
5710 Ogeechee Road
  	
  
 
  	
  
Savannah
  	
  
 
  	
  
GA
  	
   
 	
  
31405
  	
  
 
  	
  
Chatham
  
	
  128
  	
   
 	
  
2
  	
  
 
  	
  
Wind Tree Apartments(23)
  	
  
 
  	
  
2990 Trawood Drive
  	
  
 
  	
  
El Paso
  	
  
 
  	
  
TX
  	
   
 	
  
79936
  	
  
 
  	
  
El Paso
  
	
  
129
  	
   
 	
  
1
  	
  
 
  	
  
Gander Mountain - Cicero
  	
  
 
  	
  
5864 Carmenica Drive
  	
  
 
  	
  
Cicero
  	
  
 
  	
  
NY
  	
   
 	
  
13039
  	
  
 
  	
  
Onondaga
  
	
  130
  	
   
 	
  
1
  	
  
 
  	
  
Burnsville Medical Center
  	
  
 
  	
  
14000 Nicollet Avenue
  	
  
 
  	
  
Burnsville
  	
  
 
  	
  
MN
  	
   
 	
  
55337
  	
  
 
  	
  
Dakota
  
	
  
131
  	
   
 	
  
1
  	
  
 
  	
  
52-15 Flushing Ave
  	
  
 
  	
  
5215 Flushing Avenue
  	
  
 
  	
  
Maspeth
  	
  
 
  	
  
NY
  	
   
 	
  
11378
  	
  
 
  	
  
Queens
  
	
  132
  	
   
 	
  
2
  	
  
 
  	
  
SSK Heartland Pointe
  	
  
 
  	
  
113 Sioux Trail
  	
  
 
  	
  
Elsmere
  	
  
 
  	
  
KY
  	
   
 	
  
41018
  	
  
 
  	
  
Kenton
  
	
  
133
  	
   
 	
  
1
  	
  
 
  	
  
1603 North 35th Street
  	
  
 
  	
  
1603 North 35th Street
  	
  
 
  	
  
Rogers
  	
  
 
  	
  
AR
  	
   
 	
  
72756
  	
  
 
  	
  
Benton
  
	
  134
  	
   
 	
  
1
  	
  
 
  	
  
Storage USA
  	
  
 
  	
  
709 Church Street
  	
  
 
  	
  
Bayport
  	
  
 
  	
  
NY
  	
   
 	
  
11705
  	
  
 
  	
  
Suffolk
  
	
  
135
  	
   
 	
  
1
  	
  
 
  	
  
425 Meadowlands Parkway
  	
  
 
  	
  
425 Meadowlands Parkway
  	
  
 
  	
  
Secaucus
  	
  
 
  	
  
NJ
  	
   
 	
  
07094
  	
  
 
  	
  
Hudson
  
	
  136
  	
   
 	
  
1
  	
  
 
  	
  
CVS (Mixed Use Facility)
  	
  
 
  	
  
231 West 67th Street &   Noth Graham Street
  	
  
 
  	
  
Charlotte
  	
  
 
  	
  
NC
  	
   
 	
  
28202
  	
  
 
  	
  
Mecklenburg
  
	
  
137
  	
   
 	
  
1
  	
  
 
  	
  
Baldwin Transfer Pool(24)
  	
  
 
  	
  
Various
  	
  
 
  	
  
Various
  	
  
 
  	
  
Various
  	
   
 	
  
Various
  	
  
 
  	
  
Various
  
	
  137.01
  	
   
 	
   
 	
  
 
  	
  
1505 & 1507 Telegraph   Road
  	
  
 
  	
  
1505 & 1507 Telegraph   Road
  	
  
 
  	
  
Mobile
  	
  
 
  	
  
AL
  	
   
 	
  
36611
  	
  
 
  	
  
Mobile
  
	
  
137.02
  	
   
 	
   
 	
  
 
  	
  
1400 James Street
  	
  
 
  	
  
1400 James Street
  	
  
 
  	
  
Hattiesburg
  	
  
 
  	
  
MS
  	
   
 	
  
39401
  	
  
 
  	
  
Forrest
  
	
  137.03
  	
   
 	
   
 	
  
 
  	
  
52 W.L. Runnels Drive
  	
  
 
  	
  
52 W.L. Runnels Drive
  	
  
 
  	
  
Hattiesburg
  	
  
 
  	
  
MS
  	
   
 	
  
39401
  	
  
 
  	
  
Forrest
  
	
  
137.04
  	
   
 	
   
 	
  
 
  	
  
1700 A. Craft Highway
  	
  
 
  	
  
1700 A. Craft Highway
  	
  
 
  	
  
Mobile
  	
  
 
  	
  
AL
  	
   
 	
  
36611
  	
  
 
  	
  
Mobile
  
	
  137.05
  	
   
 	
   
 	
  
 
  	
  
201 Callahan Road
  	
  
 
  	
  
201 Callahan Road
  	
  
 
  	
  
Mobile
  	
  
 
  	
  
AL
  	
   
 	
  
36611
  	
  
 
  	
  
Mobile
  
	
  
137.06
  	
   
 	
   
 	
  
 
  	
  
200 Callahan Road
  	
  
 
  	
  
200 Callahan Road
  	
  
 
  	
  
Chickasaw
  	
  
 
  	
  
AL
  	
   
 	
  
36611
  	
  
 
  	
  
Mobile
  
	
  138
  	
   
 	
  
1
  	
  
 
  	
  
Wendover Plaza
  	
  
 
  	
  
901 North Wendover Road
  	
  
 
  	
  
Charlotte
  	
  
 
  	
  
NC
  	
   
 	
  
28211
  	
  
 
  	
  
Mecklenburg
  
	
  
139
  	
   
 	
  
1
  	
  
 
  	
  
Parkway Place
  	
  
 
  	
  
4205-4255 White Bear   Parkway
  	
  
 
  	
  
Vadnais Heights
  	
  
 
  	
  
MN
  	
   
 	
  
55110
  	
  
 
  	
  
Ramsey
  
	
  140
  	
   
 	
  
1
  	
  
 
  	
  
Country Inn & Suites -   Appleton, WI
  	
  
 
  	
  
355 Fox River Drive
  	
  
 
  	
  
Appleton
  	
  
 
  	
  
WI
  	
   
 	
  
54913
  	
  
 
  	
  
Outagamie
  
	
  
141
  	
   
 	
  
2
  	
  
 
  	
  
Mirasol Apartments
  	
  
 
  	
  
8750 East McDowell Road
  	
  
 
  	
  
Scottsdale
  	
  
 
  	
  
AZ
  	
   
 	
  
85257
  	
  
 
  	
  
Maricopa
  
	
  142
  	
   
 	
  
1
  	
  
 
  	
  
Lyon’s Station
  	
  
 
  	
  
14250 Arminta Street
  	
  
 
  	
  
Santa Clarita
  	
  
 
  	
  
CA
  	
   
 	
  
91321
  	
  
 
  	
  
Los Angeles
  
	
  
143
  	
   
 	
  
1
  	
  
 
  	
  
Holiday Inn Express -   Sebring, FL
  	
  
 
  	
  
4400 Highway US 27 North
  	
  
 
  	
  
Sebring
  	
  
 
  	
  
FL
  	
   
 	
  
33870
  	
  
 
  	
  
Highlands
  
	
  144
  	
   
 	
  
1
  	
  
 
  	
  
Sweetwater Shopping Center
  	
  
 
  	
  
17044 Lexington and 4720   Sweetwater Boulevards
  	
  
 
  	
  
Sugar Land
  	
  
 
  	
  
TX
  	
   
 	
  
77479
  	
  
 
  	
  
Fort Bend
  
	
  
145
  	
   
 	
  
1
  	
  
 
  	
  
Orlando ICE Building
  	
  
 
  	
  
6643 Hazeltine National   Drive
  	
  
 
  	
  
Orlando
  	
  
 
  	
  
FL
  	
   
 	
  
32822
  	
  
 
  	
  
Orange
  
	
  146
  	
   
 	
  
1
  	
  
 
  	
  
Extra Space Storage - San   Francisco, CA
  	
  
 
  	
  
2501 Cesar Chavez Street
  	
  
 
  	
  
San Francisco
  	
  
 
  	
  
CA
  	
   
 	
  
94110
  	
  
 
  	
  
San Francisco
  
	
  
147
  	
   
 	
  
1
  	
  
 
  	
  
Wingate Cool Springs
  	
  
 
  	
  
1738 Carothers Parkway
  	
  
 
  	
  
Brentwood
  	
  
 
  	
  
TN
  	
   
 	
  
37027
  	
  
 
  	
  
Williamson
  
	
  148
  	
   
 	
  
1
  	
  
 
  	
  
FBI Building - Nashville,   TN
  	
  
 
  	
  
2868 Elm Hill Pike
  	
  
 
  	
  
Nashville
  	
  
 
  	
  
TN
  	
   
 	
  
37214
  	
  
 
  	
  
Davidson
  
	
  
149
  	
   
 	
  
1
  	
  
 
  	
  
Country Inn & Suites -   Henrietta, NY(25)
  	
  
 
  	
  
4635 West Henrietta Road
  	
  
 
  	
  
Henrietta
  	
  
 
  	
  
NY
  	
   
 	
  
14467
  	
  
 
  	
  
Monroe
  
	
  150
  	
   
 	
  
2
  	
  
 
  	
  
Pear Tree Apartments(26)
  	
  
 
  	
  
222 Bartlett Drive
  	
  
 
  	
  
El Paso
  	
  
 
  	
  
TX
  	
   
 	
  
79912
  	
  
 
  	
  
El Paso
  
	
  
151
  	
   
 	
  
1
  	
  
 
  	
  
400 Centennial Parkway
  	
  
 
  	
  
400 Centennial Parkway
  	
  
 
  	
  
Louisville
  	
  
 
  	
  
CO
  	
   
 	
  
80027
  	
  
 
  	
  
Boulder
  
	
  152
  	
   
 	
  
2
  	
  
 
  	
  
Holly Glen Apartments
  	
  
 
  	
  
2800-2848 Holly Glen Drive
  	
  
 
  	
  
Greenville
  	
  
 
  	
  
NC
  	
   
 	
  
27834
  	
  
 
  	
  
Pitt
  
	
  
153
  	
   
 	
  
1
  	
  
 
  	
  
Center of Dover
  	
  
 
  	
  
261 North DuPont Highway
  	
  
 
  	
  
Dover
  	
  
 
  	
  
DE
  	
   
 	
  
19901
  	
  
 
  	
  
Kent
  
	
  154
  	
   
 	
  
1
  	
  
 
  	
  
Best Buy - Kohler, WI
  	
  
 
  	
  
3600 County Highway A
  	
  
 
  	
  
Kohler
  	
  
 
  	
  
WI
  	
   
 	
  
53085
  	
  
 
  	
  
Sheboygan
  
	
  
155
  	
   
 	
  
1
  	
  
 
  	
  
Blackhawk Office Building
  	
  
 
  	
  
15545 Devonshire Street
  	
  
 
  	
  
Los Angeles
  	
  
 
  	
  
CA
  	
   
 	
  
91345
  	
  
 
  	
  
Los Angeles
  
	
  156
  	
   
 	
  
1
  	
  
 
  	
  
Wine Country RV
  	
  
 
  	
  
2500 Airport Road
  	
  
 
  	
  
Paso Robles
  	
  
 
  	
  
CA
  	
   
 	
  
93446
  	
  
 
  	
  
San Luis Obispo
  
	
  
157
  	
   
 	
  
1
  	
  
 
  	
  
Ridgewood Industrial
  	
  
 
  	
  
75 Onderdonk Avenue
  	
  
 
  	
  
Ridgewood
  	
  
 
  	
  
NY
  	
   
 	
  
11385
  	
  
 
  	
  
Queens
  
	
  158
  	
   
 	
  
1
  	
  
 
  	
  
Mountain View Shopping   Center Phase II
  	
  
 
  	
  
2355, 2407 & 2411 U.S.   Highway 93
  	
  
 
  	
  
Kalispell
  	
  
 
  	
  
MT
  	
   
 	
  
59901
  	
  
 
  	
  
Flathead
  
	
  
159
  	
   
 	
  
2
  	
  
 
  	
  
The Three Crowns Apartments
  	
  
 
  	
  
2020 Sanata Clara Avenue
  	
  
 
  	
  
Alameda
  	
  
 
  	
  
CA
  	
   
 	
  
94501
  	
  
 
  	
  
Alameda
  
	
  160
  	
   
 	
  
1
  	
  
 
  	
  
Hawthorn Suites - Austin,   TX
  	
  
 
  	
  
7800 East Riverside Drive
  	
  
 
  	
  
Austin
  	
  
 
  	
  
TX
  	
   
 	
  
78744
  	
  
 
  	
  
Travis
  
	
  
161
  	
   
 	
  
1
  	
  
 
  	
  
Country Inn & Suites -   Monona, WI
  	
  
 
  	
  
400 River Place
  	
  
 
  	
  
Monona
  	
  
 
  	
  
WI
  	
   
 	
  
53716
  	
  
 
  	
  
Dane
  
	
  162
  	
   
 	
  
1
  	
  
 
  	
  
2580 Diehl Road
  	
  
 
  	
  
2580 Diehl Road
  	
  
 
  	
  
Aurora
  	
  
 
  	
  
IL
  	
   
 	
  
60504
  	
  
 
  	
  
Du Page
  
	
  
163
  	
   
 	
  
1
  	
  
 
  	
  
Extra Space Storage -   Carson, CA
  	
  
 
  	
  
17510 South Figueroa Street
  	
  
 
  	
  
Carson
  	
  
 
  	
  
CA
  	
   
 	
  
90746
  	
  
 
  	
  
Los Angeles
  
	
  164
  	
   
 	
  
2
  	
  
 
  	
  
French Quarter Apartments
  	
  
 
  	
  
2211 West North Loop   Boulevard
  	
  
 
  	
  
Austin
  	
  
 
  	
  
TX
  	
   
 	
  
78756
  	
  
 
  	
  
Travis
  
	
  
165
  	
   
 	
  
1
  	
  
 
  	
  
Metro Gardens Office Park
  	
  
 
  	
  
2830 Winkler Avenue
  	
  
 
  	
  
Fort Myers
  	
  
 
  	
  
FL
  	
   
 	
  
33619
  	
  
 
  	
  
Lee
  
	
  166
  	
   
 	
  
2
  	
  
 
  	
  
Hillside Gardens
  	
  
 
  	
  
555 Greenbrier Drive
  	
  
 
  	
  
Oceanside
  	
  
 
  	
  
CA
  	
   
 	
  
92054
  	
  
 
  	
  
San Diego
  
	
  
167
  	
   
 	
  
1
  	
  
 
  	
  
Rite Aid - Boardman, OH
  	
  
 
  	
  
339 Boardman Canfield Road
  	
  
 
  	
  
Boardman
  	
  
 
  	
  
OH
  	
   
 	
  
44512
  	
  
 
  	
  
Mahoning
  
	
  168
  	
   
 	
  
1
  	
  
 
  	
  
Comfort Suites - Charlotte,   NC(27)
  	
  
 
  	
  
7735 University City   Boulevard
  	
  
 
  	
  
Charlotte
  	
  
 
  	
  
NC
  	
   
 	
  
28213
  	
  
 
  	
  
Mecklenburg
  
	
  
169
  	
   
 	
  
1
  	
  
 
  	
  
Extra Space Storage -   Chatsworth, CA
  	
  
 
  	
  
21536 Devonshire Street
  	
  
 
  	
  
Chatsworth
  	
  
 
  	
  
CA
  	
   
 	
  
91311
  	
  
 
  	
  
Los Angeles
  
	
  170
  	
   
 	
  
2
  	
  
 
  	
  
Billboard Lofts
  	
  
 
  	
  
320 West Ash Street
  	
  
 
  	
  
San Diego
  	
  
 
  	
  
CA
  	
   
 	
  
92101
  	
  
 
  	
  
San Diego
  
	
  
171
  	
   
 	
  
1
  	
  
 
  	
  
CVS - San Antonio, TX
  	
  
 
  	
  
14900 Jones Maltsberger   Road
  	
  
 
  	
  
San Antonio
  	
  
 
  	
  
TX
  	
   
 	
  
78247
  	
  
 
  	
  
Bexar
  
	
  172
  	
   
 	
  
1
  	
  
 
  	
  
Airport Center Warehouse
  	
  
 
  	
  
3750 NW 28th Street
  	
  
 
  	
  
Miami
  	
  
 
  	
  
FL
  	
   
 	
  
33142
  	
  
 
  	
  
Dade
  
	
  
173
  	
   
 	
  
2
  	
  
 
  	
  
Redwood Terrace(28)
  	
  
 
  	
  
9950 Redwood Street NW
  	
  
 
  	
  
Coon Rapids
  	
  
 
  	
  
MN
  	
   
 	
  
55433
  	
  
 
  	
  
Anoka
  
	
  174
  	
   
 	
  
1
  	
  
 
  	
  
Shoppers World Duluth II
  	
  
 
  	
  
2605 Pleasant Hill Road
  	
  
 
  	
  
Duluth
  	
  
 
  	
  
GA
  	
   
 	
  
30096
  	
  
 
  	
  
Gwinnett
  
	
  
175
  	
   
 	
  
1
  	
  
 
  	
  
New Forest Crossing   Shopping Center Phase II
  	
  
 
  	
  
6025 East Sam Houston   Parkway
  	
  
 
  	
  
Houston
  	
  
 
  	
  
TX
  	
   
 	
  
77049
  	
  
 
  	
  
Harris
  
	
  176
  	
   
 	
  
1
  	
  
 
  	
  
Oceana Distribution Center
  	
  
 
  	
  
2800 Crusader Circle
  	
  
 
  	
  
Virginia Beach
  	
  
 
  	
  
VA
  	
   
 	
  
23456
  	
  
 
  	
  
Virginia Beach City
  
	
  
177
  	
   
 	
  
1
  	
  
 
  	
  
Clanton Shopping Center
  	
  
 
  	
  
1100 - 1400 Woodfin Lane
  	
  
 
  	
  
Clanton
  	
  
 
  	
  
AL
  	
   
 	
  
35045
  	
  
 
  	
  
Chilton
  
	
  178
  	
   
 	
  
1
  	
  
 
  	
  
Extra Space Storage -   Oakland, CA
  	
  
 
  	
  
300 Market Street
  	
  
 
  	
  
Oakland
  	
  
 
  	
  
CA
  	
   
 	
  
94607
  	
  
 
  	
  
Alameda
  
	
  
179
  	
   
 	
  
1
  	
  
 
  	
  
Bull Creek Market
  	
  
 
  	
  
6203 North Capital of Texas   Highway
  	
  
 
  	
  
Austin
  	
  
 
  	
  
TX
  	
   
 	
  
78731
  	
  
 
  	
  
Travis
  
	
  180
  	
   
 	
  
1
  	
  
 
  	
  
Gateway Retail Center II
  	
  
 
  	
  
16221 East 40th Avenue
  	
  
 
  	
  
Denver
  	
  
 
  	
  
CO
  	
   
 	
  
80239
  	
  
 
  	
  
Denver
  
	
  
181
  	
   
 	
  
1
  	
  
 
  	
  
La Marque Crossing
  	
  
 
  	
  
6408 Interstate 45 South
  	
  
 
  	
  
La Marque
  	
  
 
  	
  
TX
  	
   
 	
  
77568
  	
  
 
  	
  
Galveston
  
	
  182
  	
   
 	
  
2
  	
  
 
  	
  
Mobile Gardens MHP
  	
  
 
  	
  
1901 North Glasscock Road
  	
  
 
  	
  
Mission
  	
  
 
  	
  
TX
  	
   
 	
  
78572
  	
  
 
  	
  
Hidalgo
  
	
  
183
  	
   
 	
  
1
  	
  
 
  	
  
Extra Space Storage - North   Hollywood, CA
  	
  
 
  	
  
13434 Saticoy Street
  	
  
 
  	
  
North Hollywood
  	
  
 
  	
  
CA
  	
   
 	
  
91605
  	
  
 
  	
  
Los Angeles
  
	
  184
  	
   
 	
  
1
  	
  
 
  	
  
Bethel Self Storage
  	
  
 
  	
  
41 Durant Avenue
  	
  
 
  	
  
Bethel
  	
  
 
  	
  
CT
  	
   
 	
  
06801
  	
  
 
  	
  
Fairfield
  
	
  
185
  	
   
 	
  
1
  	
  
 
  	
  
Fry’s Plaza(29)
  	
  
 
  	
  
8350 West Lower Buckeye   Road
  	
  
 
  	
  
Phoenix
  	
  
 
  	
  
AZ
  	
   
 	
  
85043
  	
  
 
  	
  
Maricopa
  
	
  186
  	
   
 	
  
1
  	
  
 
  	
  
Rite Aid - Erie, PA
  	
  
 
  	
  
1709 Liberty Street
  	
  
 
  	
  
Erie
  	
  
 
  	
  
PA
  	
   
 	
  
16502
  	
  
 
  	
  
Erie
  
	
  
187
  	
   
 	
  
2
  	
  
 
  	
  
Gas Lite Manor
  	
  
 
  	
  
500 North La Mesa Drive
  	
  
 
  	
  
Sioux Falls
  	
  
 
  	
  
SD
  	
   
 	
  
57107
  	
  
 
  	
  
Minnehaha
  
	
  188
  	
   
 	
  
2
  	
  
 
  	
  
Saratoga Apartments
  	
  
 
  	
  
653 East Capitol Street, SE
  	
  
 
  	
  
Washington
  	
  
 
  	
  
DC
  	
   
 	
  
20003
  	
  
 
  	
  
District of Columbia
  
	
  
189
  	
   
 	
  
2
  	
  
 
  	
  
Blueberry Ridge Mobile   Village
  	
  
 
  	
  
15 Valley Road
  	
  
 
  	
  
Wells
  	
  
 
  	
  
ME
  	
   
 	
  
04090
  	
  
 
  	
  
York
  











	

Mortgage
   Loan
   Number
  	
   
 	
  
Loan Group
   Number
  	
   
 	
  
Property   Name
  	
   
 	
  
Cut-Off   Date Loan
   Balance ($)
  	
   
 	
  
Monthly   P&I
   Payments ($)
  	
   
 	
  
Grace Days
  	
   
 	
  
Mortgage   Rate (%)
  	
   
 	
  
Number of   Units
  
	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  
	
  119
  	
   
 	
  
2
  	
  
 
  	
  
Sunpointe Apartments
  	
  
 
  	
  
8,160,000.00
  	
   
 	
  
IO
  	
   
 	
   
 	
   
 	
  
6.0500%
  	
   
 	
  
152
  
	
  120
  	
   
 	
  
2
  	
  
 
  	
  
Collegiate Suites I
  	
  
 
  	
  
8,100,000.00
  	
   
 	
  
47,320.87
  	
   
 	
   
 	
   
 	
  
5.7600%
  	
   
 	
  
78
  
	
  
121
  	
   
 	
  
2
  	
  
 
  	
  
Park West Apartments
  	
  
 
  	
  
8,000,000.00
  	
   
 	
  
IO
  	
   
 	
   
 	
   
 	
  
5.6100%
  	
   
 	
  
359
  
	
  122
  	
   
 	
  
1
  	
  
 
  	
  
Publix at Bayside Lakes
  	
  
 
  	
  
8,000,000.00
  	
   
 	
  
IO
  	
   
 	
   
 	
   
 	
  
5.4600%
  	
   
 	
  
70,070
  
	
  
123
  	
   
 	
  
1
  	
  
 
  	
  
Evergreen Distribution   Center
  	
  
 
  	
  
7,900,000.00
  	
   
 	
  
45,651.58
  	
   
 	
   
 	
   
 	
  
5.6600%
  	
   
 	
  
151,000
  
	
  124
  	
   
 	
  
1
  	
  
 
  	
  
Hampton Inn - Staunton, VA(22)
  	
  
 
  	
  
7,541,966.61
  	
   
 	
  
43,581.30
  	
   
 	
   
 	
   
 	
  
5.6500%
  	
   
 	
  
76
  
	
  
125
  	
   
 	
  
2
  	
  
 
  	
  
Wickatunk Village MHC
  	
  
 
  	
  
7,500,000.00
  	
   
 	
  
IO
  	
   
 	
   
 	
   
 	
  
6.0000%
  	
   
 	
  
178
  
	
  126
  	
   
 	
  
1
  	
  
 
  	
  
Holiday Inn - Rockford, IL
  	
  
 
  	
  
7,226,584.85
  	
   
 	
  
64,075.57
  	
   
 	
   
 	
   
 	
  
6.7300%
  	
   
 	
  
202
  
	
  
127
  	
   
 	
  
1
  	
  
 
  	
  
Berwick Marketplace
  	
  
 
  	
  
7,200,000.00
  	
   
 	
  
IO
  	
   
 	
   
 	
   
 	
  
5.8200%
  	
   
 	
  
38,171
  
	
  128
  	
   
 	
  
2
  	
  
 
  	
  
Wind Tree Apartments(23)
  	
  
 
  	
  
7,140,000.00
  	
   
 	
  
IO
  	
   
 	
  
0   default, 10 late
  	
   
 	
  
5.3700%
  	
   
 	
  
176
  
	
  
129
  	
   
 	
  
1
  	
  
 
  	
  
Gander Mountain - Cicero
  	
  
 
  	
  
7,088,000.00
  	
   
 	
  
42,496.14
  	
   
 	
  
5   Default 5 Late
  	
   
 	
  
6.0000%
  	
   
 	
  
65,556
  
	
  130
  	
   
 	
  
1
  	
  
 
  	
  
Burnsville Medical Center
  	
  
 
  	
  
7,050,000.00
  	
   
 	
  
IO
  	
   
 	
   
 	
   
 	
  
5.8000%
  	
   
 	
  
45,412
  
	
  
131
  	
   
 	
  
1
  	
  
 
  	
  
52-15 Flushing Ave
  	
  
 
  	
  
6,993,031.46
  	
   
 	
  
41,968.54
  	
   
 	
  
5   Default 5 Late
  	
   
 	
  
6.0000%
  	
   
 	
  
65,000
  
	
  132
  	
   
 	
  
2
  	
  
 
  	
  
SSK Heartland Pointe
  	
  
 
  	
  
6,752,000.00
  	
   
 	
  
39,875.92
  	
   
 	
  
5   Default 5 Late
  	
   
 	
  
5.8600%
  	
   
 	
  
203
  
	
  
133
  	
   
 	
  
1
  	
  
 
  	
  
1603 North 35th Street
  	
  
 
  	
  
6,750,000.00
  	
   
 	
  
40,643.41
  	
   
 	
  
5   Default 5 Late
  	
   
 	
  
6.0400%
  	
   
 	
  
274,510
  
	
  134
  	
   
 	
  
1
  	
  
 
  	
  
Storage USA
  	
  
 
  	
  
6,480,000.00
  	
   
 	
  
IO
  	
   
 	
   
 	
   
 	
  
5.5400%
  	
   
 	
  
61,370
  
	
  
135
  	
   
 	
  
1
  	
  
 
  	
  
425 Meadowlands Parkway
  	
  
 
  	
  
6,400,000.00
  	
   
 	
  
IO
  	
   
 	
  
5   default, 5 late
  	
   
 	
  
5.6100%
  	
   
 	
  
125,000
  
	
  136
  	
   
 	
  
1
  	
  
 
  	
  
CVS (Mixed Use Facility)
  	
  
 
  	
  
6,250,000.00
  	
   
 	
  
IO
  	
   
 	
  
0   default, 15 late
  	
   
 	
  
5.5600%
  	
   
 	
  
27,379
  
	
  
137
  	
   
 	
  
1
  	
  
 
  	
  
Baldwin Transfer Pool(24)
  	
  
 
  	
  
6,200,000.00
  	
   
 	
  
39,004.60
  	
   
 	
   
 	
   
 	
  
5.7500%
  	
   
 	
  
799,039
  
	
  137.01
  	
   
 	
   
 	
  
 
  	
  
1505 & 1507 Telegraph   Road
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
154,594
  
	
  
137.02
  	
   
 	
   
 	
  
 
  	
  
1400 James Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
150,000
  
	
  137.03
  	
   
 	
   
 	
  
 
  	
  
52 W.L. Runnels Drive
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
150,000
  
	
  
137.04
  	
   
 	
   
 	
  
 
  	
  
1700 A. Craft Highway
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
148,968
  
	
  137.05
  	
   
 	
   
 	
  
 
  	
  
201 Callahan Road
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
96,613
  
	
  
137.06
  	
   
 	
   
 	
  
 
  	
  
200 Callahan Road
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
98,864
  
	
  138
  	
   
 	
  
1
  	
  
 
  	
  
Wendover Plaza
  	
  
 
  	
  
6,193,465.17
  	
   
 	
  
35,984.83
  	
   
 	
   
 	
   
 	
  
5.7000%
  	
   
 	
  
78,099
  
	
  
139
  	
   
 	
  
1
  	
  
 
  	
  
Parkway Place
  	
  
 
  	
  
6,100,000.00
  	
   
 	
  
IO
  	
   
 	
   
 	
   
 	
  
5.8500%
  	
   
 	
  
93,294
  
	
  140
  	
   
 	
  
1
  	
  
 
  	
  
Country Inn & Suites -   Appleton, WI
  	
  
 
  	
  
6,016,800.00
  	
   
 	
  
35,726.35
  	
   
 	
  
5   Default 5 Late
  	
   
 	
  
5.9100%
  	
   
 	
  
106
  
	
  
141
  	
   
 	
  
2
  	
  
 
  	
  
Mirasol Apartments
  	
  
 
  	
  
6,000,000.00
  	
   
 	
  
35,396.46
  	
   
 	
   
 	
   
 	
  
5.8500%
  	
   
 	
  
125
  
	
  142
  	
   
 	
  
1
  	
  
 
  	
  
Lyon’s Station
  	
  
 
  	
  
5,950,000.00
  	
   
 	
  
IO
  	
   
 	
   
 	
   
 	
  
5.6700%
  	
   
 	
  
28,554
  
	
  
143
  	
   
 	
  
1
  	
  
 
  	
  
Holiday Inn Express -   Sebring, FL
  	
  
 
  	
  
5,841,440.80
  	
   
 	
  
37,370.45
  	
   
 	
  
5   Default 5 Late
  	
   
 	
  
5.9100%
  	
   
 	
  
66
  
	
  144
  	
   
 	
  
1
  	
  
 
  	
  
Sweetwater Shopping Center
  	
  
 
  	
  
5,840,000.00
  	
   
 	
  
IO
  	
   
 	
  
0   default, 10 late
  	
   
 	
  
5.7500%
  	
   
 	
  
12,020
  
	
  
145
  	
   
 	
  
1
  	
  
 
  	
  
Orlando ICE Building
  	
  
 
  	
  
5,833,856.26
  	
   
 	
  
33,932.40
  	
   
 	
   
 	
   
 	
  
5.7100%
  	
   
 	
  
22,082
  
	
  146
  	
   
 	
  
1
  	
  
 
  	
  
Extra Space Storage - San   Francisco, CA
  	
  
 
  	
  
5,800,000.00
  	
   
 	
  
IO
  	
   
 	
   
 	
   
 	
  
5.4800%
  	
   
 	
  
75,063
  
	
  
147
  	
   
 	
  
1
  	
  
 
  	
  
Wingate Cool Springs
  	
  
 
  	
  
5,750,000.00
  	
   
 	
  
35,966.59
  	
   
 	
  
5   Default 5 Late
  	
   
 	
  
6.4000%
  	
   
 	
  
106
  
	
  148
  	
   
 	
  
1
  	
  
 
  	
  
FBI Building - Nashville,   TN
  	
  
 
  	
  
5,680,000.00
  	
   
 	
  
33,617.50
  	
   
 	
   
 	
   
 	
  
5.8800%
  	
   
 	
  
26,833
  
	
  
149
  	
   
 	
  
1
  	
  
 
  	
  
Country Inn & Suites -   Henrietta, NY(25)
  	
  
 
  	
  
5,492,026.72
  	
   
 	
  
35,335.78
  	
   
 	
   
 	
   
 	
  
5.9700%
  	
   
 	
  
77
  
	
  150
  	
   
 	
  
2
  	
  
 
  	
  
Pear Tree Apartments(26)
  	
  
 
  	
  
5,480,000.00
  	
   
 	
  
IO
  	
   
 	
  
0   default, 10 late
  	
   
 	
  
5.2800%
  	
   
 	
  
130
  
	
  
151
  	
   
 	
  
1
  	
  
 
  	
  
400 Centennial Parkway
  	
  
 
  	
  
5,370,000.00
  	
   
 	
  
IO
  	
   
 	
   
 	
   
 	
  
5.8500%
  	
   
 	
  
40,889
  
	
  152
  	
   
 	
  
2
  	
  
 
  	
  
Holly Glen Apartments
  	
  
 
  	
  
5,369,409.43
  	
   
 	
  
31,435.37
  	
   
 	
  
0   default, 15 late
  	
   
 	
  
5.7700%
  	
   
 	
  
104
  
	
  
153
  	
   
 	
  
1
  	
  
 
  	
  
Center of Dover
  	
  
 
  	
  
5,360,000.00
  	
   
 	
  
31,552.44
  	
   
 	
  
5   Default 5 Late
  	
   
 	
  
5.8300%
  	
   
 	
  
38,495
  
	
  154
  	
   
 	
  
1
  	
  
 
  	
  
Best Buy - Kohler, WI
  	
  
 
  	
  
5,225,000.00
  	
   
 	
  
30,425.33
  	
   
 	
   
 	
   
 	
  
5.7300%
  	
   
 	
  
30,038
  
	
  
155
  	
   
 	
  
1
  	
  
 
  	
  
Blackhawk Office Building
  	
  
 
  	
  
5,100,000.00
  	
   
 	
  
IO
  	
   
 	
   
 	
   
 	
  
5.7000%
  	
   
 	
  
34,256
  
	
  156
  	
   
 	
  
1
  	
  
 
  	
  
Wine Country RV
  	
  
 
  	
  
5,000,000.00
  	
   
 	
  
29,977.53
  	
   
 	
  
5   Default 5 Late
  	
   
 	
  
6.0000%
  	
   
 	
  
166
  
	
  
157
  	
   
 	
  
1
  	
  
 
  	
  
Ridgewood Industrial
  	
  
 
  	
  
4,800,000.00
  	
   
 	
  
28,994.80
  	
   
 	
  
5   Default 5 Late
  	
   
 	
  
6.0700%
  	
   
 	
  
62,678
  
	
  158
  	
   
 	
  
1
  	
  
 
  	
  
Mountain View Shopping   Center Phase II
  	
  
 
  	
  
4,727,839.00
  	
   
 	
  
IO
  	
   
 	
   
 	
   
 	
  
5.6730%
  	
   
 	
  
55,500
  
	
  
159
  	
   
 	
  
2
  	
  
 
  	
  
The Three Crowns Apartments
  	
  
 
  	
  
4,675,000.00
  	
   
 	
  
IO
  	
   
 	
   
 	
   
 	
  
5.8800%
  	
   
 	
  
34
  
	
  160
  	
   
 	
  
1
  	
  
 
  	
  
Hawthorn Suites - Austin,   TX
  	
  
 
  	
  
4,571,681.60
  	
   
 	
  
27,547.81
  	
   
 	
  
0   default, 10 late
  	
   
 	
  
6.0300%
  	
   
 	
  
70
  
	
  
161
  	
   
 	
  
1
  	
  
 
  	
  
Country Inn & Suites -   Monona, WI
  	
  
 
  	
  
4,535,322.56
  	
   
 	
  
26,696.44
  	
   
 	
  
5   Default 5 Late
  	
   
 	
  
5.8200%
  	
   
 	
  
87
  
	
  162
  	
   
 	
  
1
  	
  
 
  	
  
2580 Diehl Road
  	
  
 
  	
  
4,480,000.00
  	
   
 	
  
IO
  	
   
 	
   
 	
   
 	
  
5.7700%
  	
   
 	
  
65,477
  
	
  
163
  	
   
 	
  
1
  	
  
 
  	
  
Extra Space Storage -   Carson, CA
  	
  
 
  	
  
4,400,000.00
  	
   
 	
  
IO
  	
   
 	
   
 	
   
 	
  
5.4800%
  	
   
 	
  
78,715
  
	
  164
  	
   
 	
  
2
  	
  
 
  	
  
French Quarter Apartments
  	
  
 
  	
  
4,398,000.00
  	
   
 	
  
26,424.81
  	
   
 	
   
 	
   
 	
  
6.0200%
  	
   
 	
  
104
  
	
  
165
  	
   
 	
  
1
  	
  
 
  	
  
Metro Gardens Office Park
  	
  
 
  	
  
4,350,000.00
  	
   
 	
  
IO
  	
   
 	
   
 	
   
 	
  
5.7900%
  	
   
 	
  
46,590
  
	
  166
  	
   
 	
  
2
  	
  
 
  	
  
Hillside Gardens
  	
  
 
  	
  
4,245,000.00
  	
   
 	
  
IO
  	
   
 	
   
 	
   
 	
  
5.6500%
  	
   
 	
  
44
  
	
  
167
  	
   
 	
  
1
  	
  
 
  	
  
Rite Aid - Boardman, OH
  	
  
 
  	
  
4,009,732.11
  	
   
 	
  
23,523.95
  	
   
 	
  
5   Default 5 Late
  	
   
 	
  
5.7600%
  	
   
 	
  
14,564
  
	
  168
  	
   
 	
  
1
  	
  
 
  	
  
Comfort Suites - Charlotte,   NC(27)
  	
  
 
  	
  
4,000,000.00
  	
   
 	
  
24,863.30
  	
   
 	
  
0   default, 15 late
  	
   
 	
  
6.3400%
  	
   
 	
  
120
  
	
  
169
  	
   
 	
  
1
  	
  
 
  	
  
Extra Space Storage -   Chatsworth, CA
  	
  
 
  	
  
4,000,000.00
  	
   
 	
  
IO
  	
   
 	
   
 	
   
 	
  
5.4800%
  	
   
 	
  
68,380
  
	
  170
  	
   
 	
  
2
  	
  
 
  	
  
Billboard Lofts
  	
  
 
  	
  
3,800,000.00
  	
   
 	
  
IO
  	
   
 	
   
 	
   
 	
  
5.8700%
  	
   
 	
  
24
  
	
  
171
  	
   
 	
  
1
  	
  
 
  	
  
CVS - San Antonio, TX
  	
  
 
  	
  
3,750,000.00
  	
   
 	
  
IO
  	
   
 	
   
 	
   
 	
  
5.9400%
  	
   
 	
  
10,908
  
	
  172
  	
   
 	
  
1
  	
  
 
  	
  
Airport Center Warehouse
  	
  
 
  	
  
3,500,000.00
  	
   
 	
  
20,314.01
  	
   
 	
   
 	
   
 	
  
5.7000%
  	
   
 	
  
50,800
  
	
  
173
  	
   
 	
  
2
  	
  
 
  	
  
Redwood Terrace(28)
  	
  
 
  	
  
3,500,000.00
  	
   
 	
  
20,469.54
  	
   
 	
   
 	
   
 	
  
5.7700%
  	
   
 	
  
54
  
	
  174
  	
   
 	
  
1
  	
  
 
  	
  
Shoppers World Duluth II
  	
  
 
  	
  
3,440,000.00
  	
   
 	
  
IO
  	
   
 	
   
 	
   
 	
  
5.9100%
  	
   
 	
  
13,650
  
	
  
175
  	
   
 	
  
1
  	
  
 
  	
  
New Forest Crossing   Shopping Center Phase II
  	
  
 
  	
  
3,437,500.00
  	
   
 	
  
IO
  	
   
 	
   
 	
   
 	
  
5.6230%
  	
   
 	
  
26,680
  
	
  176
  	
   
 	
  
1
  	
  
 
  	
  
Oceana Distribution Center
  	
  
 
  	
  
3,400,000.00
  	
   
 	
  
19,841.48
  	
   
 	
   
 	
   
 	
  
5.7500%
  	
   
 	
  
96,000
  
	
  
177
  	
   
 	
  
1
  	
  
 
  	
  
Clanton Shopping Center
  	
  
 
  	
  
3,304,668.89
  	
   
 	
  
19,705.71
  	
   
 	
   
 	
   
 	
  
5.9400%
  	
   
 	
  
29,728
  
	
  178
  	
   
 	
  
1
  	
  
 
  	
  
Extra Space Storage -   Oakland, CA
  	
  
 
  	
  
3,200,000.00
  	
   
 	
  
IO
  	
   
 	
   
 	
   
 	
  
5.4800%
  	
   
 	
  
52,485
  
	
  
179
  	
   
 	
  
1
  	
  
 
  	
  
Bull Creek Market
  	
  
 
  	
  
3,150,000.00
  	
   
 	
  
18,865.59
  	
   
 	
  
5   Default 5 Late
  	
   
 	
  
5.9900%
  	
   
 	
  
27,035
  
	
  180
  	
   
 	
  
1
  	
  
 
  	
  
Gateway Retail Center II
  	
  
 
  	
  
3,030,000.00
  	
   
 	
  
17,413.70
  	
   
 	
   
 	
   
 	
  
5.6100%
  	
   
 	
  
10,000
  
	
  
181
  	
   
 	
  
1
  	
  
 
  	
  
La Marque Crossing
  	
  
 
  	
  
3,030,000.00
  	
   
 	
  
17,778.62
  	
   
 	
   
 	
   
 	
  
5.8000%
  	
   
 	
  
14,231
  
	
  182
  	
   
 	
  
2
  	
  
 
  	
  
Mobile Gardens MHP
  	
  
 
  	
  
2,730,000.00
  	
   
 	
  
15,810.35
  	
   
 	
   
 	
   
 	
  
5.6800%
  	
   
 	
  
185
  
	
  
183
  	
   
 	
  
1
  	
  
 
  	
  
Extra Space Storage - North   Hollywood, CA
  	
  
 
  	
  
2,600,000.00
  	
   
 	
  
IO
  	
   
 	
   
 	
   
 	
  
5.4800%
  	
   
 	
  
46,585
  
	
  184
  	
   
 	
  
1
  	
  
 
  	
  
Bethel Self Storage
  	
  
 
  	
  
2,597,436.34
  	
   
 	
  
15,671.99
  	
   
 	
  
5   Default 5 Late
  	
   
 	
  
6.0500%
  	
   
 	
  
51,950
  
	
  
185
  	
   
 	
  
1
  	
  
 
  	
  
Fry’s Plaza(29)
  	
  
 
  	
  
2,070,000.00
  	
   
 	
  
12,093.11
  	
   
 	
   
 	
   
 	
  
5.7600%
  	
   
 	
  
7,574
  
	
  186
  	
   
 	
  
1
  	
  
 
  	
  
Rite Aid - Erie, PA
  	
  
 
  	
  
1,605,000.00
  	
   
 	
  
9,499.31
  	
   
 	
   
 	
   
 	
  
5.8800%
  	
   
 	
  
11,325
  
	
  
187
  	
   
 	
  
2
  	
  
 
  	
  
Gas Lite Manor
  	
  
 
  	
  
1,590,000.00
  	
   
 	
  
9,645.59
  	
   
 	
  
5   Default 5 Late
  	
   
 	
  
6.1100%
  	
   
 	
  
80
  
	
  188
  	
   
 	
  
2
  	
  
 
  	
  
Saratoga Apartments
  	
  
 
  	
  
1,520,544.17
  	
   
 	
  
8,727.46
  	
   
 	
   
 	
   
 	
  
5.5800%
  	
   
 	
  
31
  
	
  
189
  	
   
 	
  
2
  	
  
 
  	
  
Blueberry Ridge Mobile   Village
  	
  
 
  	
  
1,373,682.72
  	
   
 	
  
8,421.45
  	
   
 	
   
 	
   
 	
  
6.2000%
  	
   
 	
  
53
  











	

Mortgage
   Loan
   Number
  	
   
 	
  
Loan Group
   Number
  	
   
 	
  
Property   Name
  	
   
 	
  
Unit of
   Measure
  	
   
 	
  
Original   Term
   to Maturity or
   ARD (Mos.)
  	
   
 	
  
Remaining
   Term to
   Maturity or
   ARD (Mos.)
  	
   
 	
  
Maturity   Date
   or ARD
  	
   
 	
  
Original
   Amort Term
   (Mos.)
  	
   
 	
  
Remaining
   Amort Term
   (Mos.)
  
	
  


  	
   
  	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  
	
  
119
  	
   
 	
  
2
  	
  
 
  	
  
Sunpointe Apartments
  	
  
 
  	
  
Units
  	
   
 	
  
120
  	
   
 	
  
117
  	
   
 	
  
02/11/17
  	
  
 
  	
  
IO
  	
   
 	
  
IO
  
	
  120
  	
   
 	
  
2
  	
  
 
  	
  
Collegiate Suites I
  	
  
 
  	
  
Units
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
  
 
  	
  
360
  	
   
 	
  
360
  
	
  
121
  	
   
 	
  
2
  	
  
 
  	
  
Park West Apartments
  	
  
 
  	
  
Units
  	
   
 	
  
120
  	
   
 	
  
117
  	
   
 	
  
02/11/17
  	
  
 
  	
  
IO
  	
   
 	
  
IO
  
	
  122
  	
   
 	
  
1
  	
  
 
  	
  
Publix at Bayside Lakes
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
120
  	
   
 	
  
118
  	
   
 	
  
03/11/17
  	
  
 
  	
  
IO
  	
   
 	
  
IO
  
	
  
123
  	
   
 	
  
1
  	
  
 
  	
  
Evergreen Distribution   Center
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
  
 
  	
  
360
  	
   
 	
  
360
  
	
  124
  	
   
 	
  
1
  	
  
 
  	
  
Hampton Inn - Staunton, VA(22)
  	
  
 
  	
  
Rooms
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
  
 
  	
  
360
  	
   
 	
  
359
  
	
  
125
  	
   
 	
  
2
  	
  
 
  	
  
Wickatunk Village MHC
  	
  
 
  	
  
Pads
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/06/17
  	
  
 
  	
  
IO
  	
   
 	
  
IO
  
	
  126
  	
   
 	
  
1
  	
  
 
  	
  
Holiday Inn - Rockford, IL
  	
  
 
  	
  
Rooms
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
  
 
  	
  
180
  	
   
 	
  
179
  
	
  
127
  	
   
 	
  
1
  	
  
 
  	
  
Berwick Marketplace
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
  
 
  	
  
IO
  	
   
 	
  
IO
  
	
  128
  	
   
 	
  
2
  	
  
 
  	
  
Wind Tree Apartments(23)
  	
  
 
  	
  
Units
  	
   
 	
  
120
  	
   
 	
  
118
  	
   
 	
  
03/11/17
  	
  
 
  	
  
IO
  	
   
 	
  
IO
  
	
  
129
  	
   
 	
  
1
  	
  
 
  	
  
Gander Mountain - Cicero
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
120
  	
   
 	
  
120
  	
   
 	
  
05/01/17
  	
  
 
  	
  
360
  	
   
 	
  
360
  
	
  130
  	
   
 	
  
1
  	
  
 
  	
  
Burnsville Medical Center
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
  
 
  	
  
IO
  	
   
 	
  
IO
  
	
  
131
  	
   
 	
  
1
  	
  
 
  	
  
52-15 Flushing Ave
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/01/17
  	
  
 
  	
  
360
  	
   
 	
  
359
  
	
  132
  	
   
 	
  
2
  	
  
 
  	
  
SSK Heartland Pointe
  	
  
 
  	
  
Pads
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/01/17
  	
  
 
  	
  
360
  	
   
 	
  
360
  
	
  
133
  	
   
 	
  
1
  	
  
 
  	
  
1603 North 35th Street
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/01/17
  	
  
 
  	
  
360
  	
   
 	
  
360
  
	
  134
  	
   
 	
  
1
  	
  
 
  	
  
Storage USA
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
  
 
  	
  
IO
  	
   
 	
  
IO
  
	
  
135
  	
   
 	
  
1
  	
  
 
  	
  
425 Meadowlands Parkway
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
  
 
  	
  
IO
  	
   
 	
  
IO
  
	
  136
  	
   
 	
  
1
  	
  
 
  	
  
CVS (Mixed Use Facility)
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
120
  	
   
 	
  
118
  	
   
 	
  
03/11/17
  	
  
 
  	
  
IO
  	
   
 	
  
IO
  
	
  
137
  	
   
 	
  
1
  	
  
 
  	
  
Baldwin Transfer Pool(24)
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
  
 
  	
  
300
  	
   
 	
  
300
  
	
  137.01
  	
   
 	
   
 	
  
 
  	
  
1505 & 1507 Telegraph   Road
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
 
  	
   
 	
   
 	
   
 
	
  
137.02
  	
   
 	
   
 	
  
 
  	
  
1400 James Street
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
 
  	
   
 	
   
 	
   
 
	
  137.03
  	
   
 	
   
 	
  
 
  	
  
52 W.L. Runnels Drive
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
 
  	
   
 	
   
 	
   
 
	
  
137.04
  	
   
 	
   
 	
  
 
  	
  
1700 A. Craft Highway
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
 
  	
   
 	
   
 	
   
 
	
  137.05
  	
   
 	
   
 	
  
 
  	
  
201 Callahan Road
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
 
  	
   
 	
   
 	
   
 
	
  
137.06
  	
   
 	
   
 	
  
 
  	
  
200 Callahan Road
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
  
 
  	
   
 	
   
 	
   
 
	
  138
  	
   
 	
  
1
  	
  
 
  	
  
Wendover Plaza
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
  
 
  	
  
360
  	
   
 	
  
359
  
	
  
139
  	
   
 	
  
1
  	
  
 
  	
  
Parkway Place
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
  
 
  	
  
IO
  	
   
 	
  
IO
  
	
  140
  	
   
 	
  
1
  	
  
 
  	
  
Country Inn & Suites -   Appleton, WI
  	
  
 
  	
  
Rooms
  	
   
 	
  
120
  	
   
 	
  
120
  	
   
 	
  
05/01/17
  	
  
 
  	
  
360
  	
   
 	
  
360
  
	
  
141
  	
   
 	
  
2
  	
  
 
  	
  
Mirasol Apartments
  	
  
 
  	
  
Units
  	
   
 	
  
120
  	
   
 	
  
118
  	
   
 	
  
03/11/17
  	
  
 
  	
  
360
  	
   
 	
  
360
  
	
  142
  	
   
 	
  
1
  	
  
 
  	
  
Lyon’s Station
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
60
  	
   
 	
  
59
  	
   
 	
  
04/11/12
  	
  
 
  	
  
IO
  	
   
 	
  
IO
  
	
  
143
  	
   
 	
  
1
  	
  
 
  	
  
Holiday Inn Express -   Sebring, FL
  	
  
 
  	
  
Rooms
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/01/17
  	
  
 
  	
  
300
  	
   
 	
  
299
  
	
  144
  	
   
 	
  
1
  	
  
 
  	
  
Sweetwater Shopping Center
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
  
 
  	
  
IO
  	
   
 	
  
IO
  
	
  
145
  	
   
 	
  
1
  	
  
 
  	
  
Orlando ICE Building
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
  
 
  	
  
360
  	
   
 	
  
359
  
	
  146
  	
   
 	
  
1
  	
  
 
  	
  
Extra Space Storage - San   Francisco, CA
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
60
  	
   
 	
  
58
  	
   
 	
  
03/11/12
  	
  
 
  	
  
IO
  	
   
 	
  
IO
  
	
  
147
  	
   
 	
  
1
  	
  
 
  	
  
Wingate Cool Springs
  	
  
 
  	
  
Rooms
  	
   
 	
  
120
  	
   
 	
  
120
  	
   
 	
  
05/01/17
  	
  
 
  	
  
360
  	
   
 	
  
360
  
	
  148
  	
   
 	
  
1
  	
  
 
  	
  
FBI Building - Nashville,   TN
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
120
  	
   
 	
  
120
  	
   
 	
  
05/11/17
  	
  
 
  	
  
360
  	
   
 	
  
360
  
	
  
149
  	
   
 	
  
1
  	
  
 
  	
  
Country Inn & Suites -   Henrietta, NY(25)
  	
  
 
  	
  
Rooms
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
  
 
  	
  
300
  	
   
 	
  
299
  
	
  150
  	
   
 	
  
2
  	
  
 
  	
  
Pear Tree Apartments(26)
  	
  
 
  	
  
Units
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
  
 
  	
  
IO
  	
   
 	
  
IO
  
	
  
151
  	
   
 	
  
1
  	
  
 
  	
  
400 Centennial Parkway
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
120
  	
   
 	
  
117
  	
   
 	
  
02/11/17
  	
  
 
  	
  
IO
  	
   
 	
  
IO
  
	
  152
  	
   
 	
  
2
  	
  
 
  	
  
Holly Glen Apartments
  	
  
 
  	
  
Units
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
  
 
  	
  
360
  	
   
 	
  
359
  
	
  
153
  	
   
 	
  
1
  	
  
 
  	
  
Center of Dover
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
120
  	
   
 	
  
118
  	
   
 	
  
03/01/17
  	
  
 
  	
  
360
  	
   
 	
  
360
  
	
  154
  	
   
 	
  
1
  	
  
 
  	
  
Best Buy - Kohler, WI
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
  
 
  	
  
360
  	
   
 	
  
360
  
	
  
155
  	
   
 	
  
1
  	
  
 
  	
  
Blackhawk Office Building
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
60
  	
   
 	
  
59
  	
   
 	
  
04/11/12
  	
  
 
  	
  
IO
  	
   
 	
  
IO
  
	
  156
  	
   
 	
  
1
  	
  
 
  	
  
Wine Country RV
  	
  
 
  	
  
Pads
  	
   
 	
  
120
  	
   
 	
  
120
  	
   
 	
  
05/01/17
  	
  
 
  	
  
360
  	
   
 	
  
360
  
	
  
157
  	
   
 	
  
1
  	
  
 
  	
  
Ridgewood Industrial
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
120
  	
   
 	
  
120
  	
   
 	
  
05/01/17
  	
  
 
  	
  
360
  	
   
 	
  
360
  
	
  158
  	
   
 	
  
1
  	
  
 
  	
  
Mountain View Shopping   Center Phase II
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
48
  	
   
 	
  
47
  	
   
 	
  
04/11/11
  	
  
 
  	
  
IO
  	
   
 	
  
IO
  
	
  
159
  	
   
 	
  
2
  	
  
 
  	
  
The Three Crowns Apartments
  	
  
 
  	
  
Units
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/06/17
  	
  
 
  	
  
IO
  	
   
 	
  
IO
  
	
  160
  	
   
 	
  
1
  	
  
 
  	
  
Hawthorn Suites - Austin,   TX
  	
  
 
  	
  
Rooms
  	
   
 	
  
120
  	
   
 	
  
118
  	
   
 	
  
03/11/17
  	
  
 
  	
  
360
  	
   
 	
  
358
  
	
  
161
  	
   
 	
  
1
  	
  
 
  	
  
Country Inn & Suites -   Monona, WI
  	
  
 
  	
  
Rooms
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/01/17
  	
  
 
  	
  
360
  	
   
 	
  
359
  
	
  162
  	
   
 	
  
1
  	
  
 
  	
  
2580 Diehl Road
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
120
  	
   
 	
  
118
  	
   
 	
  
03/11/17
  	
  
 
  	
  
IO
  	
   
 	
  
IO
  
	
  
163
  	
   
 	
  
1
  	
  
 
  	
  
Extra Space Storage -   Carson, CA
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
60
  	
   
 	
  
58
  	
   
 	
  
03/11/12
  	
  
 
  	
  
IO
  	
   
 	
  
IO
  
	
  164
  	
   
 	
  
2
  	
  
 
  	
  
French Quarter Apartments
  	
  
 
  	
  
Units
  	
   
 	
  
60
  	
   
 	
  
60
  	
   
 	
  
05/11/12
  	
  
 
  	
  
360
  	
   
 	
  
360
  
	
  
165
  	
   
 	
  
1
  	
  
 
  	
  
Metro Gardens Office Park
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
120
  	
   
 	
  
120
  	
   
 	
  
05/11/17
  	
  
 
  	
  
IO
  	
   
 	
  
IO
  
	
  166
  	
   
 	
  
2
  	
  
 
  	
  
Hillside Gardens
  	
  
 
  	
  
Units
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
  
 
  	
  
IO
  	
   
 	
  
IO
  
	
  
167
  	
   
 	
  
1
  	
  
 
  	
  
Rite Aid - Boardman, OH
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
120
  	
   
 	
  
116
  	
   
 	
  
01/01/17
  	
  
 
  	
  
360
  	
   
 	
  
356
  
	
  168
  	
   
 	
  
1
  	
  
 
  	
  
Comfort Suites - Charlotte,   NC(27)
  	
  
 
  	
  
Rooms
  	
   
 	
  
120
  	
   
 	
  
120
  	
   
 	
  
06/01/17
  	
  
 
  	
  
360
  	
   
 	
  
360
  
	
  
169
  	
   
 	
  
1
  	
  
 
  	
  
Extra Space Storage -   Chatsworth, CA
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
60
  	
   
 	
  
58
  	
   
 	
  
03/11/12
  	
  
 
  	
  
IO
  	
   
 	
  
IO
  
	
  170
  	
   
 	
  
2
  	
  
 
  	
  
Billboard Lofts
  	
  
 
  	
  
Units
  	
   
 	
  
120
  	
   
 	
  
120
  	
   
 	
  
05/06/17
  	
  
 
  	
  
IO
  	
   
 	
  
IO
  
	
  
171
  	
   
 	
  
1
  	
  
 
  	
  
CVS - San Antonio, TX
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
  
 
  	
  
IO
  	
   
 	
  
IO
  
	
  172
  	
   
 	
  
1
  	
  
 
  	
  
Airport Center Warehouse
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
120
  	
   
 	
  
118
  	
   
 	
  
03/11/17
  	
  
 
  	
  
360
  	
   
 	
  
360
  
	
  
173
  	
   
 	
  
2
  	
  
 
  	
  
Redwood Terrace(28)
  	
  
 
  	
  
Units
  	
   
 	
  
120
  	
   
 	
  
118
  	
   
 	
  
03/11/17
  	
  
 
  	
  
360
  	
   
 	
  
360
  
	
  174
  	
   
 	
  
1
  	
  
 
  	
  
Shoppers World Duluth II
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
  
 
  	
  
IO
  	
   
 	
  
IO
  
	
  
175
  	
   
 	
  
1
  	
  
 
  	
  
New Forest Crossing   Shopping Center Phase II
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
60
  	
   
 	
  
59
  	
   
 	
  
04/11/12
  	
  
 
  	
  
IO
  	
   
 	
  
IO
  
	
  176
  	
   
 	
  
1
  	
  
 
  	
  
Oceana Distribution Center
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
120
  	
   
 	
  
120
  	
   
 	
  
05/11/17
  	
  
 
  	
  
360
  	
   
 	
  
360
  
	
  
177
  	
   
 	
  
1
  	
  
 
  	
  
Clanton Shopping Center
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
  
 
  	
  
360
  	
   
 	
  
359
  
	
  178
  	
   
 	
  
1
  	
  
 
  	
  
Extra Space Storage -   Oakland, CA
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
60
  	
   
 	
  
58
  	
   
 	
  
03/11/12
  	
  
 
  	
  
IO
  	
   
 	
  
IO
  
	
  
179
  	
   
 	
  
1
  	
  
 
  	
  
Bull Creek Market
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
120
  	
   
 	
  
120
  	
   
 	
  
05/01/17
  	
  
 
  	
  
360
  	
   
 	
  
360
  
	
  180
  	
   
 	
  
1
  	
  
 
  	
  
Gateway Retail Center II
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
120
  	
   
 	
  
117
  	
   
 	
  
02/11/17
  	
  
 
  	
  
360
  	
   
 	
  
360
  
	
  
181
  	
   
 	
  
1
  	
  
 
  	
  
La Marque Crossing
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
  
 
  	
  
360
  	
   
 	
  
360
  
	
  182
  	
   
 	
  
2
  	
  
 
  	
  
Mobile Gardens MHP
  	
  
 
  	
  
Pads
  	
   
 	
  
84
  	
   
 	
  
84
  	
   
 	
  
05/11/14
  	
  
 
  	
  
360
  	
   
 	
  
360
  
	
  
183
  	
   
 	
  
1
  	
  
 
  	
  
Extra Space Storage - North   Hollywood, CA
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
60
  	
   
 	
  
58
  	
   
 	
  
03/11/12
  	
  
 
  	
  
IO
  	
   
 	
  
IO
  
	
  184
  	
   
 	
  
1
  	
  
 
  	
  
Bethel Self Storage
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/01/17
  	
  
 
  	
  
360
  	
   
 	
  
359
  
	
  
185
  	
   
 	
  
1
  	
  
 
  	
  
Fry’s Plaza(29)
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
120
  	
   
 	
  
119
  	
   
 	
  
04/11/17
  	
  
 
  	
  
360
  	
   
 	
  
360
  
	
  186
  	
   
 	
  
1
  	
  
 
  	
  
Rite Aid - Erie, PA
  	
  
 
  	
  
Sq.   Ft.
  	
   
 	
  
120
  	
   
 	
  
120
  	
   
 	
  
05/11/17
  	
  
 
  	
  
360
  	
   
 	
  
360
  
	
  
187
  	
   
 	
  
2
  	
  
 
  	
  
Gas Lite Manor
  	
  
 
  	
  
Pads
  	
   
 	
  
60
  	
   
 	
  
59
  	
   
 	
  
04/01/12
  	
  
 
  	
  
360
  	
   
 	
  
360
  
	
  188
  	
   
 	
  
2
  	
  
 
  	
  
Saratoga Apartments
  	
  
 
  	
  
Units
  	
   
 	
  
120
  	
   
 	
  
118
  	
   
 	
  
03/11/17
  	
  
 
  	
  
360
  	
   
 	
  
358
  
	
  
189
  	
   
 	
  
2
  	
  
 
  	
  
Blueberry Ridge Mobile   Village
  	
  
 
  	
  
Pads
  	
   
 	
  
60
  	
   
 	
  
59
  	
   
 	
  
04/11/12
  	
  
 
  	
  
360
  	
   
 	
  
359
  











	

Mortgage
   Loan
   Number
  	
   
 	
  
Loan Group
   Number
  	
   
 	
  
Property   Name
  	
   
 	
  
Ground   Lease
  	
   
 	
  
Master
   Servicing Fee
   Rate
  	
   
 	
  
ARD Loan
  	
   
 	
  
Anticipated
   Repayment Date
  	
   
 	
  
Additional   Interest Rate
  
	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  
	
  119
  	
   
 	
  
2
  	
  
 
  	
  
Sunpointe Apartments
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  120
  	
   
 	
  
2
  	
  
 
  	
  
Collegiate Suites I
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
121
  	
   
 	
  
2
  	
  
 
  	
  
Park West Apartments
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  122
  	
   
 	
  
1
  	
  
 
  	
  
Publix at Bayside Lakes
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
123
  	
   
 	
  
1
  	
  
 
  	
  
Evergreen Distribution   Center
  	
  
 
  	
  
Fee
  	
   
 	
  
0.04000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  124
  	
   
 	
  
1
  	
  
 
  	
  
Hampton Inn - Staunton, VA(22)
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
125
  	
   
 	
  
2
  	
  
 
  	
  
Wickatunk Village MHC
  	
  
 
  	
  
Fee
  	
   
 	
  
0.07000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  126
  	
   
 	
  
1
  	
  
 
  	
  
Holiday Inn - Rockford, IL
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
127
  	
   
 	
  
1
  	
  
 
  	
  
Berwick Marketplace
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  128
  	
   
 	
  
2
  	
  
 
  	
  
Wind Tree Apartments(23)
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
129
  	
   
 	
  
1
  	
  
 
  	
  
Gander Mountain - Cicero
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  130
  	
   
 	
  
1
  	
  
 
  	
  
Burnsville Medical Center
  	
  
 
  	
  
Fee
  	
   
 	
  
0.07000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
131
  	
   
 	
  
1
  	
  
 
  	
  
52-15 Flushing Ave
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  132
  	
   
 	
  
2
  	
  
 
  	
  
SSK Heartland Pointe
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
133
  	
   
 	
  
1
  	
  
 
  	
  
1603 North 35th Street
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  134
  	
   
 	
  
1
  	
  
 
  	
  
Storage USA
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
135
  	
   
 	
  
1
  	
  
 
  	
  
425 Meadowlands Parkway
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  136
  	
   
 	
  
1
  	
  
 
  	
  
CVS (Mixed Use Facility)
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
137
  	
   
 	
  
1
  	
  
 
  	
  
Baldwin Transfer Pool(24)
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  137.01
  	
   
 	
   
 	
  
 
  	
  
1505 & 1507 Telegraph   Road
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
137.02
  	
   
 	
   
 	
  
 
  	
  
1400 James Street
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  137.03
  	
   
 	
   
 	
  
 
  	
  
52 W.L. Runnels Drive
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
137.04
  	
   
 	
   
 	
  
 
  	
  
1700 A. Craft Highway
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  137.05
  	
   
 	
   
 	
  
 
  	
  
201 Callahan Road
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
137.06
  	
   
 	
   
 	
  
 
  	
  
200 Callahan Road
  	
  
 
  	
  
Fee
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  138
  	
   
 	
  
1
  	
  
 
  	
  
Wendover Plaza
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
139
  	
   
 	
  
1
  	
  
 
  	
  
Parkway Place
  	
  
 
  	
  
Fee
  	
   
 	
  
0.07000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  140
  	
   
 	
  
1
  	
  
 
  	
  
Country Inn & Suites -   Appleton, WI
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
141
  	
   
 	
  
2
  	
  
 
  	
  
Mirasol Apartments
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  142
  	
   
 	
  
1
  	
  
 
  	
  
Lyon’s Station
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
143
  	
   
 	
  
1
  	
  
 
  	
  
Holiday Inn Express -   Sebring, FL
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  144
  	
   
 	
  
1
  	
  
 
  	
  
Sweetwater Shopping Center
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
145
  	
   
 	
  
1
  	
  
 
  	
  
Orlando ICE Building
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
Y
  	
   
 	
  
4/11/2017
  	
   
 	
  
Greater   of initial interest rate plus 3% or TCMYI plus 3%
  
	
  146
  	
   
 	
  
1
  	
  
 
  	
  
Extra Space Storage - San   Francisco, CA
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
147
  	
   
 	
  
1
  	
  
 
  	
  
Wingate Cool Springs
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  148
  	
   
 	
  
1
  	
  
 
  	
  
FBI Building - Nashville,   TN
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
Y
  	
   
 	
  
5/11/2017
  	
   
 	
  
Greater   of initial interest rate plus 3% or TCMYI plus 3%
  
	
  
149
  	
   
 	
  
1
  	
  
 
  	
  
Country Inn & Suites -   Henrietta, NY(25)
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  150
  	
   
 	
  
2
  	
  
 
  	
  
Pear Tree Apartments(26)
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
151
  	
   
 	
  
1
  	
  
 
  	
  
400 Centennial Parkway
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  152
  	
   
 	
  
2
  	
  
 
  	
  
Holly Glen Apartments
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
153
  	
   
 	
  
1
  	
  
 
  	
  
Center of Dover
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  154
  	
   
 	
  
1
  	
  
 
  	
  
Best Buy - Kohler, WI
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
155
  	
   
 	
  
1
  	
  
 
  	
  
Blackhawk Office Building
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  156
  	
   
 	
  
1
  	
  
 
  	
  
Wine Country RV
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
157
  	
   
 	
  
1
  	
  
 
  	
  
Ridgewood Industrial
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  158
  	
   
 	
  
1
  	
  
 
  	
  
Mountain View Shopping   Center Phase II
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
159
  	
   
 	
  
2
  	
  
 
  	
  
The Three Crowns Apartments
  	
  
 
  	
  
Fee
  	
   
 	
  
0.08000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  160
  	
   
 	
  
1
  	
  
 
  	
  
Hawthorn Suites - Austin,   TX
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
161
  	
   
 	
  
1
  	
  
 
  	
  
Country Inn & Suites -   Monona, WI
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  162
  	
   
 	
  
1
  	
  
 
  	
  
2580 Diehl Road
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
163
  	
   
 	
  
1
  	
  
 
  	
  
Extra Space Storage -   Carson, CA
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  164
  	
   
 	
  
2
  	
  
 
  	
  
French Quarter Apartments
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
165
  	
   
 	
  
1
  	
  
 
  	
  
Metro Gardens Office Park
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  166
  	
   
 	
  
2
  	
  
 
  	
  
Hillside Gardens
  	
  
 
  	
  
Fee
  	
   
 	
  
0.07000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
167
  	
   
 	
  
1
  	
  
 
  	
  
Rite Aid - Boardman, OH
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  168
  	
   
 	
  
1
  	
  
 
  	
  
Comfort Suites - Charlotte,   NC(27)
  	
  
 
  	
  
Fee
  	
   
 	
  
0.06000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
169
  	
   
 	
  
1
  	
  
 
  	
  
Extra Space Storage -   Chatsworth, CA
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  170
  	
   
 	
  
2
  	
  
 
  	
  
Billboard Lofts
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
171
  	
   
 	
  
1
  	
  
 
  	
  
CVS - San Antonio, TX
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  172
  	
   
 	
  
1
  	
  
 
  	
  
Airport Center Warehouse
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
173
  	
   
 	
  
2
  	
  
 
  	
  
Redwood Terrace(28)
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  174
  	
   
 	
  
1
  	
  
 
  	
  
Shoppers World Duluth II
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
175
  	
   
 	
  
1
  	
  
 
  	
  
New Forest Crossing   Shopping Center Phase II
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  176
  	
   
 	
  
1
  	
  
 
  	
  
Oceana Distribution Center
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
177
  	
   
 	
  
1
  	
  
 
  	
  
Clanton Shopping Center
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  178
  	
   
 	
  
1
  	
  
 
  	
  
Extra Space Storage -   Oakland, CA
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
179
  	
   
 	
  
1
  	
  
 
  	
  
Bull Creek Market
  	
  
 
  	
  
Leasehold
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  180
  	
   
 	
  
1
  	
  
 
  	
  
Gateway Retail Center II
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
181
  	
   
 	
  
1
  	
  
 
  	
  
La Marque Crossing
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  182
  	
   
 	
  
2
  	
  
 
  	
  
Mobile Gardens MHP
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
183
  	
   
 	
  
1
  	
  
 
  	
  
Extra Space Storage - North   Hollywood, CA
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  184
  	
   
 	
  
1
  	
  
 
  	
  
Bethel Self Storage
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
185
  	
   
 	
  
1
  	
  
 
  	
  
Fry’s Plaza(29)
  	
  
 
  	
  
Fee
  	
   
 	
  
0.04000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  186
  	
   
 	
  
1
  	
  
 
  	
  
Rite Aid - Erie, PA
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
Y
  	
   
 	
  
5/11/2017
  	
   
 	
  
Greater   of initial interest rate plus 2% or the treasury rate plus 3.2%
  
	
  
187
  	
   
 	
  
2
  	
  
 
  	
  
Gas Lite Manor
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  188
  	
   
 	
  
2
  	
  
 
  	
  
Saratoga Apartments
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 
	
  
189
  	
   
 	
  
2
  	
  
 
  	
  
Blueberry Ridge Mobile   Village
  	
  
 
  	
  
Fee
  	
   
 	
  
0.02000%
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 











	

Mortgage
   Loan
   Number
  	
   
 	
  
Loan Group
   Number
  	
   
 	
  
Property   Name
  	
   
 	
  
Loan   Originator
  	
   
 	
  
Environmental
   Insurance
  	
   
 	
  
Cross
   Collateralized
   and Cross
   Defaulted Loan
   Flag
  	
   
 	
  
Prepayment
   Provisions
  	
   
 	
  
Early
   Defeasance
  	
   
 	
  
Secured by   LC
  
	
  


  	
   
  	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  
	
  
119
  	
   
 	
  
2
  	
  
 
  	
  
Sunpointe Apartments
  	
  
 
  	
  
Nomura
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
N
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  120
  	
   
 	
  
2
  	
  
 
  	
  
Collegiate Suites I
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
121
  	
   
 	
  
2
  	
  
 
  	
  
Park West Apartments
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
N
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  122
  	
   
 	
  
1
  	
  
 
  	
  
Publix at Bayside Lakes
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
N
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
123
  	
   
 	
  
1
  	
  
 
  	
  
Evergreen Distribution   Center
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
N
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  124
  	
   
 	
  
1
  	
  
 
  	
  
Hampton Inn - Staunton, VA(22)
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
125
  	
   
 	
  
2
  	
  
 
  	
  
Wickatunk Village MHC
  	
  
 
  	
  
Nomura
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  126
  	
   
 	
  
1
  	
  
 
  	
  
Holiday Inn - Rockford, IL
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
127
  	
   
 	
  
1
  	
  
 
  	
  
Berwick Marketplace
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
N
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  128
  	
   
 	
  
2
  	
  
 
  	
  
Wind Tree Apartments(23)
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
129
  	
   
 	
  
1
  	
  
 
  	
  
Gander Mountain - Cicero
  	
  
 
  	
  
Barclays
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
Y
  
	
  130
  	
   
 	
  
1
  	
  
 
  	
  
Burnsville Medical Center
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
131
  	
   
 	
  
1
  	
  
 
  	
  
52-15 Flushing Ave
  	
  
 
  	
  
Barclays
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  132
  	
   
 	
  
2
  	
  
 
  	
  
SSK Heartland Pointe
  	
  
 
  	
  
Barclays
  	
   
 	
  
N
  	
   
 	
  
SSK   Portfolio
  	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
133
  	
   
 	
  
1
  	
  
 
  	
  
1603 North 35th Street
  	
  
 
  	
  
Barclays
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  134
  	
   
 	
  
1
  	
  
 
  	
  
Storage USA
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
Y
  
	
  
135
  	
   
 	
  
1
  	
  
 
  	
  
425 Meadowlands Parkway
  	
  
 
  	
  
Nomura
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  136
  	
   
 	
  
1
  	
  
 
  	
  
CVS (Mixed Use Facility)
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
137
  	
   
 	
  
1
  	
  
 
  	
  
Baldwin Transfer Pool(24)
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  137.01
  	
   
 	
   
 	
  
 
  	
  
1505 & 1507 Telegraph   Road
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
137.02
  	
   
 	
   
 	
  
 
  	
  
1400 James Street
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  137.03
  	
   
 	
   
 	
  
 
  	
  
52 W.L. Runnels Drive
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
137.04
  	
   
 	
   
 	
  
 
  	
  
1700 A. Craft Highway
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  137.05
  	
   
 	
   
 	
  
 
  	
  
201 Callahan Road
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
137.06
  	
   
 	
   
 	
  
 
  	
  
200 Callahan Road
  	
  
 
  	
   
 	
   
 	
  
N
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  138
  	
   
 	
  
1
  	
  
 
  	
  
Wendover Plaza
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
139
  	
   
 	
  
1
  	
  
 
  	
  
Parkway Place
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  140
  	
   
 	
  
1
  	
  
 
  	
  
Country Inn & Suites -   Appleton, WI
  	
  
 
  	
  
Barclays
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
141
  	
   
 	
  
2
  	
  
 
  	
  
Mirasol Apartments
  	
  
 
  	
  
Nomura
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  142
  	
   
 	
  
1
  	
  
 
  	
  
Lyon’s Station
  	
  
 
  	
  
Nomura
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
143
  	
   
 	
  
1
  	
  
 
  	
  
Holiday Inn Express -   Sebring, FL
  	
  
 
  	
  
Barclays
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  144
  	
   
 	
  
1
  	
  
 
  	
  
Sweetwater Shopping Center
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
145
  	
   
 	
  
1
  	
  
 
  	
  
Orlando ICE Building
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  146
  	
   
 	
  
1
  	
  
 
  	
  
Extra Space Storage - San   Francisco, CA
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
147
  	
   
 	
  
1
  	
  
 
  	
  
Wingate Cool Springs
  	
  
 
  	
  
Barclays
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  148
  	
   
 	
  
1
  	
  
 
  	
  
FBI Building - Nashville,   TN
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
149
  	
   
 	
  
1
  	
  
 
  	
  
Country Inn & Suites -   Henrietta, NY(25)
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  150
  	
   
 	
  
2
  	
  
 
  	
  
Pear Tree Apartments(26)
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
151
  	
   
 	
  
1
  	
  
 
  	
  
400 Centennial Parkway
  	
  
 
  	
  
Nomura
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  152
  	
   
 	
  
2
  	
  
 
  	
  
Holly Glen Apartments
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
153
  	
   
 	
  
1
  	
  
 
  	
  
Center of Dover
  	
  
 
  	
  
Barclays
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  154
  	
   
 	
  
1
  	
  
 
  	
  
Best Buy - Kohler, WI
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
155
  	
   
 	
  
1
  	
  
 
  	
  
Blackhawk Office Building
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
N
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  156
  	
   
 	
  
1
  	
  
 
  	
  
Wine Country RV
  	
  
 
  	
  
Barclays
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
157
  	
   
 	
  
1
  	
  
 
  	
  
Ridgewood Industrial
  	
  
 
  	
  
Barclays
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  158
  	
   
 	
  
1
  	
  
 
  	
  
Mountain View Shopping   Center Phase II
  	
  
 
  	
  
Nomura
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
N
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
159
  	
   
 	
  
2
  	
  
 
  	
  
The Three Crowns Apartments
  	
  
 
  	
  
Nomura
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  160
  	
   
 	
  
1
  	
  
 
  	
  
Hawthorn Suites - Austin,   TX
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
161
  	
   
 	
  
1
  	
  
 
  	
  
Country Inn & Suites -   Monona, WI
  	
  
 
  	
  
Barclays
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  162
  	
   
 	
  
1
  	
  
 
  	
  
2580 Diehl Road
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
163
  	
   
 	
  
1
  	
  
 
  	
  
Extra Space Storage -   Carson, CA
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  164
  	
   
 	
  
2
  	
  
 
  	
  
French Quarter Apartments
  	
  
 
  	
  
Nomura
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
165
  	
   
 	
  
1
  	
  
 
  	
  
Metro Gardens Office Park
  	
  
 
  	
  
Nomura
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  166
  	
   
 	
  
2
  	
  
 
  	
  
Hillside Gardens
  	
  
 
  	
  
Nomura
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
167
  	
   
 	
  
1
  	
  
 
  	
  
Rite Aid - Boardman, OH
  	
  
 
  	
  
Barclays
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  168
  	
   
 	
  
1
  	
  
 
  	
  
Comfort Suites - Charlotte,   NC(27)
  	
  
 
  	
  
Nomura
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
169
  	
   
 	
  
1
  	
  
 
  	
  
Extra Space Storage -   Chatsworth, CA
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  170
  	
   
 	
  
2
  	
  
 
  	
  
Billboard Lofts
  	
  
 
  	
  
Nomura
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
171
  	
   
 	
  
1
  	
  
 
  	
  
CVS - San Antonio, TX
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
N
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  172
  	
   
 	
  
1
  	
  
 
  	
  
Airport Center Warehouse
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
173
  	
   
 	
  
2
  	
  
 
  	
  
Redwood Terrace(28)
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
N
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  174
  	
   
 	
  
1
  	
  
 
  	
  
Shoppers World Duluth II
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
175
  	
   
 	
  
1
  	
  
 
  	
  
New Forest Crossing   Shopping Center Phase II
  	
  
 
  	
  
Nomura
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
N
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  176
  	
   
 	
  
1
  	
  
 
  	
  
Oceana Distribution Center
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
177
  	
   
 	
  
1
  	
  
 
  	
  
Clanton Shopping Center
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
N
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  178
  	
   
 	
  
1
  	
  
 
  	
  
Extra Space Storage -   Oakland, CA
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
179
  	
   
 	
  
1
  	
  
 
  	
  
Bull Creek Market
  	
  
 
  	
  
Barclays
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  180
  	
   
 	
  
1
  	
  
 
  	
  
Gateway Retail Center II
  	
  
 
  	
  
Nomura
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
181
  	
   
 	
  
1
  	
  
 
  	
  
La Marque Crossing
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  182
  	
   
 	
  
2
  	
  
 
  	
  
Mobile Gardens MHP
  	
  
 
  	
  
Nomura
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
183
  	
   
 	
  
1
  	
  
 
  	
  
Extra Space Storage - North   Hollywood, CA
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  184
  	
   
 	
  
1
  	
  
 
  	
  
Bethel Self Storage
  	
  
 
  	
  
Barclays
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
185
  	
   
 	
  
1
  	
  
 
  	
  
Fry’s Plaza(29)
  	
  
 
  	
  
Wachovia
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  186
  	
   
 	
  
1
  	
  
 
  	
  
Rite Aid - Erie, PA
  	
  
 
  	
  
Nomura
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
187
  	
   
 	
  
2
  	
  
 
  	
  
Gas Lite Manor
  	
  
 
  	
  
Barclays
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
Y
  
	
  188
  	
   
 	
  
2
  	
  
 
  	
  
Saratoga Apartments
  	
  
 
  	
  
Nomura
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
N
  	
   
 	
  
N
  	
   
 	
  
N
  
	
  
189
  	
   
 	
  
2
  	
  
 
  	
  
Blueberry Ridge Mobile   Village
  	
  
 
  	
  
Nomura
  	
   
 	
  
N
  	
   
 	
   
 	
   
 	
  
Y
  	
   
 	
  
N
  	
   
 	
  
N
  











	

Mortgage
   Loan
   Number
  	
   
 	
  
Loan Group
   Number
  	
   
 	
  
Property   Name
  	
   
 	
  
Interest
   Accrual
   Method
  	
   
 	
  
Lockbox
  	
   
 	
  
Annual   Deposit to
   Replacement
   Reserves
  	
   
 	
  
Initial   Deposit
   to Capital
   Improvements
   Reserve
  	
   
 	
  
Initial   TI/LC
   Escrow
  	
   
 	
  
Ongoing   TI/LC
   Footnote
  
	
  


  	
   
 	
  


  	
   
  	
  


  	
  
 
  	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  
	
  
119
  	
   
 	
  
2
  	
  
 
  	
  
Sunpointe Apartments
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
38,012
  	
   
 	
  
104,531
  	
   
 	
   
 	
   
 	
   
 
	
  120
  	
   
 	
  
2
  	
  
 
  	
  
Collegiate Suites I
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
45,708
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
121
  	
   
 	
  
2
  	
  
 
  	
  
Park West Apartments
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
89,750
  	
   
 	
  
17,500
  	
   
 	
   
 	
   
 	
   
 
	
  122
  	
   
 	
  
1
  	
  
 
  	
  
Publix at Bayside Lakes
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
123
  	
   
 	
  
1
  	
  
 
  	
  
Evergreen Distribution   Center
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Day   1
  	
   
 	
  
22,650
  	
   
 	
   
 	
   
 	
  
340,000
  	
   
 	
   
 
	
  124
  	
   
 	
  
1
  	
  
 
  	
  
Hampton Inn - Staunton, VA(22)
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
82,665
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
125
  	
   
 	
  
2
  	
  
 
  	
  
Wickatunk Village MHC
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
8,900
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  126
  	
   
 	
  
1
  	
  
 
  	
  
Holiday Inn - Rockford, IL
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
161,600
  	
   
 	
  
77,500
  	
   
 	
   
 	
   
 	
   
 
	
  
127
  	
   
 	
  
1
  	
  
 
  	
  
Berwick Marketplace
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  128
  	
   
 	
  
2
  	
  
 
  	
  
Wind Tree Apartments(23)
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
44,000
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
129
  	
   
 	
  
1
  	
  
 
  	
  
Gander Mountain - Cicero
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Day   1
  	
   
 	
  
9,840
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  130
  	
   
 	
  
1
  	
  
 
  	
  
Burnsville Medical Center
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
12,261
  	
   
 	
   
 	
   
 	
   
 	
   
 	
  
(3)
  
	
  
131
  	
   
 	
  
1
  	
  
 
  	
  
52-15 Flushing Ave
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Day   1
  	
   
 	
  
6,504
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  132
  	
   
 	
  
2
  	
  
 
  	
  
SSK Heartland Pointe
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Springing
  	
   
 	
  
8,124
  	
   
 	
  
625
  	
   
 	
   
 	
   
 	
   
 
	
  
133
  	
   
 	
  
1
  	
  
 
  	
  
1603 North 35th Street
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Day   1
  	
   
 	
  
27,456
  	
   
 	
   
 	
   
 	
   
 	
   
 	
  
(3)
  
	
  134
  	
   
 	
  
1
  	
  
 
  	
  
Storage USA
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
6,138
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
135
  	
   
 	
  
1
  	
  
 
  	
  
425 Meadowlands Parkway
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  136
  	
   
 	
  
1
  	
  
 
  	
  
CVS (Mixed Use Facility)
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
2,760
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
137
  	
   
 	
  
1
  	
  
 
  	
  
Baldwin Transfer Pool(24)
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
79,908
  	
   
 	
  
200,000
  	
   
 	
   
 	
   
 	
   
 
	
  137.01
  	
   
 	
   
 	
  
 
  	
  
1505 & 1507 Telegraph   Road
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
137.02
  	
   
 	
   
 	
  
 
  	
  
1400 James Street
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  137.03
  	
   
 	
   
 	
  
 
  	
  
52 W.L. Runnels Drive
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
137.04
  	
   
 	
   
 	
  
 
  	
  
1700 A. Craft Highway
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  137.05
  	
   
 	
   
 	
  
 
  	
  
201 Callahan Road
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
137.06
  	
   
 	
   
 	
  
 
  	
  
200 Callahan Road
  	
  
 
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  138
  	
   
 	
  
1
  	
  
 
  	
  
Wendover Plaza
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
7,810
  	
   
 	
  
55,316
  	
   
 	
   
 	
   
 	
   
 
	
  
139
  	
   
 	
  
1
  	
  
 
  	
  
Parkway Place
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  140
  	
   
 	
  
1
  	
  
 
  	
  
Country Inn & Suites -   Appleton, WI
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Day   1
  	
   
 	
  
92,593
  	
   
 	
  
10,625
  	
   
 	
   
 	
   
 	
   
 
	
  
141
  	
   
 	
  
2
  	
  
 
  	
  
Mirasol Apartments
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
31,250
  	
   
 	
  
27,188
  	
   
 	
   
 	
   
 	
   
 
	
  142
  	
   
 	
  
1
  	
  
 
  	
  
Lyon’s Station
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Springing
  	
   
 	
   
 	
   
 	
   
 	
   
 	
  
75,000
  	
   
 	
  
(3)
  
	
  
143
  	
   
 	
  
1
  	
  
 
  	
  
Holiday Inn Express -   Sebring, FL
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Day   1
  	
   
 	
  
81,000
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  144
  	
   
 	
  
1
  	
  
 
  	
  
Sweetwater Shopping Center
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
145
  	
   
 	
  
1
  	
  
 
  	
  
Orlando ICE Building
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
2,208
  	
   
 	
   
 	
   
 	
   
 	
   
 	
  
(3)
  
	
  146
  	
   
 	
  
1
  	
  
 
  	
  
Extra Space Storage - San   Francisco, CA
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
147
  	
   
 	
  
1
  	
  
 
  	
  
Wingate Cool Springs
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Day   1
  	
   
 	
  
79,104
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  148
  	
   
 	
  
1
  	
  
 
  	
  
FBI Building - Nashville,   TN
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Springing
  	
   
 	
  
3,086
  	
   
 	
   
 	
   
 	
   
 	
   
 	
  
(3)
  
	
  
149
  	
   
 	
  
1
  	
  
 
  	
  
Country Inn & Suites -   Henrietta, NY(25)
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
76,930
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  150
  	
   
 	
  
2
  	
  
 
  	
  
Pear Tree Apartments(26)
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
33,280
  	
   
 	
  
32,616
  	
   
 	
   
 	
   
 	
   
 
	
  
151
  	
   
 	
  
1
  	
  
 
  	
  
400 Centennial Parkway
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Day   1
  	
   
 	
  
8,174
  	
   
 	
   
 	
   
 	
   
 	
   
 	
  
(3)
  
	
  152
  	
   
 	
  
2
  	
  
 
  	
  
Holly Glen Apartments
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
26,000
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
153
  	
   
 	
  
1
  	
  
 
  	
  
Center of Dover
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Day   1
  	
   
 	
  
7,230
  	
   
 	
  
7,466
  	
   
 	
   
 	
   
 	
  
(3)
  
	
  154
  	
   
 	
  
1
  	
  
 
  	
  
Best Buy - Kohler, WI
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Springing
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
155
  	
   
 	
  
1
  	
  
 
  	
  
Blackhawk Office Building
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
14,388
  	
   
 	
  
67,673
  	
   
 	
   
 	
   
 	
  
(3)
  
	
  156
  	
   
 	
  
1
  	
  
 
  	
  
Wine Country RV
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Springing
  	
   
 	
  
8,304
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
157
  	
   
 	
  
1
  	
  
 
  	
  
Ridgewood Industrial
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Day   1
  	
   
 	
  
6,276
  	
   
 	
  
179,100
  	
   
 	
   
 	
   
 	
  
(3)
  
	
  158
  	
   
 	
  
1
  	
  
 
  	
  
Mountain View Shopping   Center Phase II
  	
  
 
  	
  
30/360
  	
   
 	
  
Springing
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
159
  	
   
 	
  
2
  	
  
 
  	
  
The Three Crowns Apartments
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
8,750
  	
   
 	
  
3,125
  	
   
 	
   
 	
   
 	
   
 
	
  160
  	
   
 	
  
1
  	
  
 
  	
  
Hawthorn Suites - Austin,   TX
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
63,424
  	
   
 	
  
118,603
  	
   
 	
   
 	
   
 	
   
 
	
  
161
  	
   
 	
  
1
  	
  
 
  	
  
Country Inn & Suites - Monona,   WI
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Day   1
  	
   
 	
  
86,128
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  162
  	
   
 	
  
1
  	
  
 
  	
  
2580 Diehl Road
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
6,548
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
163
  	
   
 	
  
1
  	
  
 
  	
  
Extra Space Storage -   Carson, CA
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  164
  	
   
 	
  
2
  	
  
 
  	
  
French Quarter Apartments
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
26,000
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
165
  	
   
 	
  
1
  	
  
 
  	
  
Metro Gardens Office Park
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Day   1
  	
   
 	
  
19,556
  	
   
 	
   
 	
   
 	
  
250,000
  	
   
 	
   
 
	
  166
  	
   
 	
  
2
  	
  
 
  	
  
Hillside Gardens
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Day   1
  	
   
 	
  
11,616
  	
   
 	
  
20,030
  	
   
 	
   
 	
   
 	
   
 
	
  
167
  	
   
 	
  
1
  	
  
 
  	
  
Rite Aid - Boardman, OH
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Springing
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  168
  	
   
 	
  
1
  	
  
 
  	
  
Comfort Suites - Charlotte,   NC(27)
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
58,961
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
169
  	
   
 	
  
1
  	
  
 
  	
  
Extra Space Storage -   Chatsworth, CA
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  170
  	
   
 	
  
2
  	
  
 
  	
  
Billboard Lofts
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
6,000
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
171
  	
   
 	
  
1
  	
  
 
  	
  
CVS - San Antonio, TX
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  172
  	
   
 	
  
1
  	
  
 
  	
  
Airport Center Warehouse
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
9,652
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
173
  	
   
 	
  
2
  	
  
 
  	
  
Redwood Terrace(28)
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
27,000
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  174
  	
   
 	
  
1
  	
  
 
  	
  
Shoppers World Duluth II
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
1,365
  	
   
 	
   
 	
   
 	
   
 	
   
 	
  
(3)
  
	
  
175
  	
   
 	
  
1
  	
  
 
  	
  
New Forest Crossing   Shopping Center Phase II
  	
  
 
  	
  
30/360
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  176
  	
   
 	
  
1
  	
  
 
  	
  
Oceana Distribution Center
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
177
  	
   
 	
  
1
  	
  
 
  	
  
Clanton Shopping Center
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
2,973
  	
   
 	
   
 	
   
 	
   
 	
   
 	
  
(3)
  
	
  178
  	
   
 	
  
1
  	
  
 
  	
  
Extra Space Storage -   Oakland, CA
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
179
  	
   
 	
  
1
  	
  
 
  	
  
Bull Creek Market
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
4,596
  	
   
 	
  
4,375
  	
   
 	
  
60,000
  	
   
 	
  
(3)
  
	
  180
  	
   
 	
  
1
  	
  
 
  	
  
Gateway Retail Center II
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
1,500
  	
   
 	
   
 	
   
 	
   
 	
   
 	
  
(3)
  
	
  
181
  	
   
 	
  
1
  	
  
 
  	
  
La Marque Crossing
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
1,446
  	
   
 	
   
 	
   
 	
   
 	
   
 	
  
(3)
  
	
  182
  	
   
 	
  
2
  	
  
 
  	
  
Mobile Gardens MHP
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
183
  	
   
 	
  
1
  	
  
 
  	
  
Extra Space Storage - North   Hollywood, CA
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  184
  	
   
 	
  
1
  	
  
 
  	
  
Bethel Self Storage
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Springing
  	
   
 	
  
7,793
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
185
  	
   
 	
  
1
  	
  
 
  	
  
Fry’s Plaza(29)
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
905
  	
   
 	
   
 	
   
 	
   
 	
   
 	
  
(3)
  
	
  186
  	
   
 	
  
1
  	
  
 
  	
  
Rite Aid - Erie, PA
  	
  
 
  	
  
Actual/360
  	
   
 	
  
Day   1
  	
   
 	
  
1,699
  	
   
 	
   
 	
   
 	
   
 	
   
 	
  
(3)
  
	
  
187
  	
   
 	
  
2
  	
  
 
  	
  
Gas Lite Manor
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
4,008
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  188
  	
   
 	
  
2
  	
  
 
  	
  
Saratoga Apartments
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
  
7,750
  	
   
 	
   
 	
   
 	
   
 	
   
 	
   
 
	
  
189
  	
   
 	
  
2
  	
  
 
  	
  
Blueberry Ridge Mobile   Village
  	
  
 
  	
  
Actual/360
  	
   
 	
   
 	
   
 	
   
 	
   
 	
  
10,000
  	
   
 	
   
 	
   
 	
   
 











	
  


  
	
  
(1)
  	
  
Four   Mortgage Loans (loan numbers 1, 2, 3, and 5) are part of a split loan   structure and the related pari passu companion loans are not included in the   Trust Fund with respect to the Mortgage Loan, unless otherwise specified.   With respect to these Mortgage Loans, unless otherwise specified, the   calculations of LTV Ratios, DSC Ratio and Cut-Off Date Balance per unit are   based on the aggregate indebtedness of or debt service on, as applicable, the   related Mortgage Loan and the related pari passu companion loan.
  
	  
	  

	
  
(2)
  	
  
Annual   deposits to the replacement reserve are $57,638 through the first year and   adjusted for CPI as of November 2006 thereafter.
  
	  
	  

	
  
(3)
  	
  
 In addition to any escrows funded at loan   closing for potential TI/LC expenses, the related Mortgage Loan requires   funds to be escrowed during some or all of the loan terms for TI/LC expenses,   which may be incurred during the term of the related Mortgage Loans.  In certain instances, escrowed funds may   be released to the borrower upon satisfaction of certain leasing conditions.
  
	  
	  

	
  
(4)
  	
  
Annual   deposits to the replacement reserve are the greater of (i) Management   Agreement or (ii) 4% of the Gross Revenues.
  
	  
	  

	
  (5)
  	
  
Commencing   May 11, 2010, annual deposits to the replacement reserves are $55,586.
  
	  
	  

	
  
(6)
  	
  
Commencing   April 11, 2011, annual deposits to the replacement reserve are $59,082.
  
	  
	  

	
  
(7)
  	
  
Initial   letter of credit deposit to TI/LC reserve in the amount $870,000.
  
	  
	  

	
  
(8)
  	
  
Annual   deposits to the replacement reserve are $668,354 through March 11, 2008 and   4.0% of yearly gross revenues thereafter.
  
	  
	  

	
  
(9)
  	
  
Commencing   May 11, 2012, annual deposits to the replacement reserve are $36,992.
  
	  
	  

	
  
(10)
  	
  
Annual   deposits to the replacement reserve are $474,617 through April 11, 2008 and   4.0% of gross revenues thereafter.
  
	  
	  

	
  
(11)
  	
  
Commencing   April 11, 2012, annual deposits to the replacement reserve are $55,266.
  
	  
	  

	
  
(12)
  	
  
Commencing   May 11, 2012, annual deposits to the replacement reserve are $28,918.
  
	  
	  

	
  (13)
  	
  
Initial   letter of credit deposit to TI/LC reserve in the amount of $200,000.
  
	  
	  

	
  
(14)
  	
  
Commencing   May 11, 2009, annual deposits to the replacement reserve are $61,908.
  
	  
	  

	
  
(15)
  	
  
Annual   deposits to the replacement reserve are $13,552 until the reserve balance   reaches or exceeds $40,655. Deposits will resume if the reserve balance falls   below $13,552.  Such payments will   cease on June 11, 2016.
  
	  
	  

	
  
(16)
  	
  
Annual   deposits to the replacement reserve are $211,242 and can be adjusted at   Lender’s discretion.
  
	  
	  

	
  
(17)
  	
  
Commencing   March 11, 2009, annual deposits to the replacement reserve are $66,174.
  
	  
	  

	
  
(18)
  	
  
Commencing   on May 11, 2009 annual deposits to the replacement reserve are $14,740.
  
	  
	  

	
  
(19)
  	
  
Initial   deposit to replacement reserves in the amount of $710,000.
  
	  
	  

	
  
(20)
  	
  
Initial   letter of credit deposit to TI/LC reserve in the amount of $225,000.
  
	  
	  

	
  (21)
  	
  
Annual   deposits to the replacement reserve are $23,250 and $250 per unit.
  
	  
	  

	
  
(22)
  	
  
Annual   deposits to the replacement reserve are $82,665 and can be adjusted at   Lender’s discretion.
  
	  
	  

	
  
(23)
  	
  
Commencing   April 11, 2009, annual deposits to the replacement reserve are $44,000.
  
	  
	  

	
  
(24)
  	
  
Annual   deposits to the replacement reserve are $79,908 commencing May 11, 2011   through April 11, 2015 and resume if the reserve balance falls below cap.
  
	  
	  

	
  
(25)
  	
  
Annual   deposits to the replacement reserve are $76,930 through April 11, 2008 and   3.0% of prior year’s gross revenues thereafter.
  
	  
	  

	
  
(26)
  	
  
Commencing   May 11, 2009, annual deposits to the replacement reserve are $33,280.
  
	  
	  

	
  
(27)
  	
  
Annual   deposits to the replacement reserve are $58,961 adjustable at Lender’s   discretion
  
	  
	  

	
  
(28)
  	
  
Annual   deposits to the replacement reserve are $13,500 and $250 per unit.
  
	  
	  

	
  (29)
  	
  Annual   deposits to the replacement reserve are $905 through April 11, 2010 and   resume if balance the falls below the cap.
  





B-1









EXHIBIT C-1


SCHEDULE OF EXCEPTIONS TO MORTGAGE FILE DELIVERY


Wachovia Commercial Mortgage Securities Inc.
 Commercial Mortgage Pass-Through Certificates Series 2007-C31


C-1-1










	
  Collateral   ID
  	
   
 	
  
Property   Name
  	
   
 	
  
Pool ID
  	
   
 	
  
Investor   ID
  	
   
 	
  
AlternateLoanID
  	
   
 	
  
Casenum
  	
   
 	
  
Loan   Amount
  	
   
 	
  
DocType
  	
   
 	
  
Exception
  	
   
 	
  
Exception   Description
  	
   
 	
  
Notation
  
	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  
	
  32007C31
  	
  
 
  	
  
666 Fifth Avenue
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
Barclays
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
395,000,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
01
  	
  
 
  	
  
MISSING
  	
  
 
  	
  
Being Delivered This   Morning
  
	
  62007C31
  	
  
 
  	
  
Grand Hyatt Cypress
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859351
  	
  
 
  	
  
CADW
  	
  
 
  	
  
200,000,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  
72007C31
  	
  
 
  	
  
Boston Marriott Long Wharf
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859928
  	
  
 
  	
  
CADW
  	
  
 
  	
  
176,000,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  82007C31
  	
  
 
  	
  
Ashford Hospitality Pool 3
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2860051
  	
  
 
  	
  
PROS
  	
  
 
  	
  
128,408,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  
92007C31
  	
  
 
  	
  
Ashford Hospitality Pool 2
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2860050
  	
  
 
  	
  
PROS
  	
  
 
  	
  
126,466,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  102007C31
  	
  
 
  	
  
L.A. International Jewelry   Center
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2856988
  	
  
 
  	
  
PROS
  	
  
 
  	
  
124,400,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  
122007C31
  	
  
 
  	
  
Ashford Hospitality Pool 1
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2860049
  	
  
 
  	
  
PROS
  	
  
 
  	
  
115,600,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  132007C31
  	
  
 
  	
  
Osprey Pool(4)
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2854713
  	
  
 
  	
  
MOOR
  	
  
 
  	
  
113,360,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  
142007C31
  	
  
 
  	
  
City Heights Apartment   Homes
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859254
  	
  
 
  	
  
KILP
  	
  
 
  	
  
98,000,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  152007C31
  	
  
 
  	
  
Ponte Vedra Inn & Club
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2857802
  	
  
 
  	
  
MOOR
  	
  
 
  	
  
80,000,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  
172007C31
  	
  
 
  	
  
Southern Palm Crossing
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2858279
  	
  
 
  	
  
MOOR
  	
  
 
  	
  
69,675,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  182007C31
  	
  
 
  	
  
635 Madison Avenue
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859215
  	
  
 
  	
  
W&ST
  	
  
 
  	
  
56,500,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  
192007C31
  	
  
 
  	
  
Cherry Hill Corporate   Center Pool
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859350
  	
  
 
  	
  
MOOR
  	
  
 
  	
  
51,700,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  202007C31
  	
  
 
  	
  
First Colony Commons
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859729
  	
  
 
  	
  
KILP
  	
  
 
  	
  
50,600,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  
212007C31
  	
  
 
  	
  
611 West 6th Street
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2858781
  	
  
 
  	
  
W&ST
  	
  
 
  	
  
55,000,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  232007C31
  	
  
 
  	
  
Corporate Plaza
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2855358
  	
  
 
  	
  
MOOR
  	
  
 
  	
  
47,000,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  
242007C31
  	
  
 
  	
  
Park Place Apartments
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2856833
  	
  
 
  	
  
KILP
  	
  
 
  	
  
46,400,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  262007C31
  	
  
 
  	
  
East Gate Square Phase II
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2858956
  	
  
 
  	
  
MOOR
  	
  
 
  	
  
41,480,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  
272007C31
  	
  
 
  	
  
St. Louis Marriott
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859411
  	
  
 
  	
  
MOOR
  	
  
 
  	
  
39,712,500.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  292007C31
  	
  
 
  	
  
1020 19th Street
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859453
  	
  
 
  	
  
CADW
  	
  
 
  	
  
38,000,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  
302007C31
  	
  
 
  	
  
1920 L Street
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2858588
  	
  
 
  	
  
CADW
  	
  
 
  	
  
36,600,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  312007C31
  	
  
 
  	
  
Scottsdale Medical   Portfolio
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859855
  	
  
 
  	
  
KILP
  	
  
 
  	
  
36,500,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  
332007C31
  	
  
 
  	
  
The Overlook at St. Thomas
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859126
  	
  
 
  	
  
KILP
  	
  
 
  	
  
36,000,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  342007C31
  	
  
 
  	
  
Toll Brothers Corporate   Headquarters
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859013
  	
  
 
  	
  
MOOR
  	
  
 
  	
  
35,125,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  
362007C31
  	
  
 
  	
  
The Regent Apartments
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859026
  	
  
 
  	
  
W&ST
  	
  
 
  	
  
32,000,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  372007C31
  	
  
 
  	
  
1900 L Street
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2858853
  	
  
 
  	
  
CADW
  	
  
 
  	
  
31,900,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  
382007C31
  	
  
 
  	
  
Colonial Grande at   Promenade
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859303
  	
  
 
  	
  
MOOR
  	
  
 
  	
  
30,400,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  392007C31
  	
  
 
  	
  
Whittier Marketplace
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2855723
  	
  
 
  	
  
MOOR
  	
  
 
  	
  
30,400,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  










	
  Collateral   ID
  	
   
 	
  
Property   Name
  	
   
 	
  
Pool ID
  	
   
 	
  
Investor   ID
  	
   
 	
  
AlternateLoanID
  	
   
 	
  
Casenum
  	
   
 	
  
Loan   Amount
  	
   
 	
  
DocType
  	
   
 	
  
Exception
  	
   
 	
  
Exception   Description
  	
   
 	
  
Notation
  
	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  
	
  412007C31
  	
  
 
  	
  
Main Street Village
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2858558
  	
  
 
  	
  
KILP
  	
  
 
  	
  
28,700,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  422007C31
  	
  
 
  	
  
East Gate Square Phase IV
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859977
  	
  
 
  	
  
MOOR
  	
  
 
  	
  
28,080,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  
432007C31
  	
  
 
  	
  
East Gate Square Phase V
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859978
  	
  
 
  	
  
MOOR
  	
  
 
  	
  
28,020,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  442007C31
  	
  
 
  	
  
Doubletree Hotel
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859193
  	
  
 
  	
  
MOOR
  	
  
 
  	
  
27,500,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  
462007C31
  	
  
 
  	
  
Durham Office Portfolio
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859294
  	
  
 
  	
  
KILP
  	
  
 
  	
  
26,000,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  472007C31
  	
  
 
  	
  
35 Nutmeg Drive
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859637
  	
  
 
  	
  
MOOR
  	
  
 
  	
  
25,600,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  
482007C31
  	
  
 
  	
  
Parkway 400
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859743
  	
  
 
  	
  
KILP
  	
  
 
  	
  
25,500,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  492007C31
  	
  
 
  	
  
THF-Fairview Marketplace
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2856791
  	
  
 
  	
  
MOOR
  	
  
 
  	
  
25,000,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  
502007C31
  	
  
 
  	
  
University Crescent
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859604
  	
  
 
  	
  
KILP
  	
  
 
  	
  
24,150,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  512007C31
  	
  
 
  	
  
Decatur Town Center
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2858129
  	
  
 
  	
  
KILP
  	
  
 
  	
  
24,000,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  
522007C31
  	
  
 
  	
  
The Summit
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859607
  	
  
 
  	
  
KILP
  	
  
 
  	
  
23,825,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  532007C31
  	
  
 
  	
  
Beachwalk Shopping Center
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2858907
  	
  
 
  	
  
KILP
  	
  
 
  	
  
22,520,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  
542007C31
  	
  
 
  	
  
University Oaks
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859605
  	
  
 
  	
  
KILP
  	
  
 
  	
  
22,150,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  552007C31
  	
  
 
  	
  
Royal St. Moritz
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859313
  	
  
 
  	
  
MOOR
  	
  
 
  	
  
22,000,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  
562007C31
  	
  
 
  	
  
Vineyard Springs Apartments
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859127
  	
  
 
  	
  
KILP
  	
  
 
  	
  
21,825,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  572007C31
  	
  
 
  	
  
Norfolk Avenue
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859078
  	
  
 
  	
  
CADW
  	
  
 
  	
  
21,700,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  
582007C31
  	
  
 
  	
  
200 Montague Street
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2858320
  	
  
 
  	
  
W&ST
  	
  
 
  	
  
21,000,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  602007C31
  	
  
 
  	
  
Courthouse Marketplace
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859291
  	
  
 
  	
  
KILP
  	
  
 
  	
  
20,750,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  
612007C31
  	
  
 
  	
  
The Depot
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859248
  	
  
 
  	
  
KILP
  	
  
 
  	
  
20,560,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  622007C31
  	
  
 
  	
  
200 South Tryon
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859380
  	
  
 
  	
  
KILP
  	
  
 
  	
  
20,000,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  
642007C31
  	
  
 
  	
  
Walker Ranch Apartments
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2860302
  	
  
 
  	
  
KILP
  	
  
 
  	
  
20,000,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  662007C31
  	
  
 
  	
  
East Gate Square Phase III
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859957
  	
  
 
  	
  
MOOR
  	
  
 
  	
  
19,280,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  










	
  Collateral   ID
  	
   
 	
  
Property   Name
  	
   
 	
  
Pool ID
  	
   
 	
  
Investor   ID
  	
   
 	
  
AlternateLoanID
  	
   
 	
  
Casenum
  	
   
 	
  
Loan Amount
  	
   
 	
  
DocType
  	
   
 	
  
Exception
  	
   
 	
  
Exception   Description
  	
   
 	
  
Notation
  
	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  
	
  672007C31
  	
  
 
  	
  
St. Louis County Office   Pool
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859315
  	
  
 
  	
  
KILP
  	
  
 
  	
  
18,500,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  682007C31
  	
  
 
  	
  
Donald Ross Village
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2857096
  	
  
 
  	
  
MOOR
  	
  
 
  	
  
18,000,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  
712007C31
  	
  
 
  	
  
901 7th Street
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2858760
  	
  
 
  	
  
CADW
  	
  
 
  	
  
17,250,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  752007C31
  	
  
 
  	
  
Vista Pointe Apartments
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859275
  	
  
 
  	
  
MOOR
  	
  
 
  	
  
16,480,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  
762007C31
  	
  
 
  	
  
Lexington Green I and II
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2858329
  	
  
 
  	
  
KILP
  	
  
 
  	
  
16,400,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  772007C31
  	
  
 
  	
  
National Archives- Dayton
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2858174
  	
  
 
  	
  
KILP
  	
  
 
  	
  
16,400,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  
782007C31
  	
  
 
  	
  
Keystone at Alamo Heights
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859890
  	
  
 
  	
  
KILP
  	
  
 
  	
  
16,016,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  822007C31
  	
  
 
  	
  
Northridge Promenade Shopping   Center
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859803
  	
  
 
  	
  
KILP
  	
  
 
  	
  
15,100,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  
842007C31
  	
  
 
  	
  
15 Broad Street
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859172
  	
  
 
  	
  
MOOR
  	
  
 
  	
  
15,000,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  852007C31
  	
  
 
  	
  
Gateway at Knoxville
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2858514
  	
  
 
  	
  
KILP
  	
  
 
  	
  
14,950,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  
882007C31
  	
  
 
  	
  
Springfield Apartments
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859514
  	
  
 
  	
  
KILP
  	
  
 
  	
  
13,575,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  932007C31
  	
  
 
  	
  
East Gate Square Phase VI
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859979
  	
  
 
  	
  
MOOR
  	
  
 
  	
  
13,140,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  
972007C31
  	
  
 
  	
  
Wilmington Courthouse   Garage
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859067
  	
  
 
  	
  
KILP
  	
  
 
  	
  
12,200,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  992007C31
  	
  
 
  	
  
Cypress Business Center
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2857849
  	
  
 
  	
  
KILP
  	
  
 
  	
  
12,000,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  
1012007C31
  	
  
 
  	
  
Gateway at Huntsville
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859488
  	
  
 
  	
  
KILP
  	
  
 
  	
  
11,505,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  1022007C31
  	
  
 
  	
  
Battleground Plaza
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859210
  	
  
 
  	
  
MOOR
  	
  
 
  	
  
11,440,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  
1072007C31
  	
  
 
  	
  
Centerpoint Plaza
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859866
  	
  
 
  	
  
MOOR
  	
  
 
  	
  
9,600,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  1092007C31
  	
  
 
  	
  
The Boulders of White Bear   Lake
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2855592
  	
  
 
  	
  
KILP
  	
  
 
  	
  
9,200,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  
1102007C31
  	
  
 
  	
  
Prospect Place Apartments
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859720
  	
  
 
  	
  
KILP
  	
  
 
  	
  
9,000,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  1132007C31
  	
  
 
  	
  
Artists in Residence   Apartments
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859493
  	
  
 
  	
  
MOOR
  	
  
 
  	
  
8,640,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  
1162007C31
  	
  
 
  	
  
GSA Building- Charlotte
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2855994
  	
  
 
  	
  
KILP
  	
  
 
  	
  
8,500,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  1182007C31
  	
  
 
  	
  
Cole Victoria Crossing
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2858451
  	
  
 
  	
  
MOOR
  	
  
 
  	
  
8,288,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  
1202007C31
  	
  
 
  	
  
Collegiate Suites I
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2858167
  	
  
 
  	
  
KILP
  	
  
 
  	
  
8,100,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  1212007C31
  	
  
 
  	
  
Park West
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2858828
  	
  
 
  	
  
MOOR
  	
  
 
  	
  
8,000,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  
1222007C31
  	
  
 
  	
  
Publix at Bayside Lakes
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859168
  	
  
 
  	
  
MOOR
  	
  
 
  	
  
8,000,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  1232007C31
  	
  
 
  	
  
Evergreen Distribution   Center
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2858851
  	
  
 
  	
  
KILP
  	
  
 
  	
  
7,900,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  
1242007C31
  	
  
 
  	
  
Hampton Inn- Staunton
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2858874
  	
  
 
  	
  
KILP
  	
  
 
  	
  
7,550,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  1262007C31
  	
  
 
  	
  
Holiday Inn-Rockford, IL
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2856420
  	
  
 
  	
  
MOOR
  	
  
 
  	
  
7,250,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  










	
  Collateral   ID
  	
   
 	
  
Property   Name
  	
   
 	
  
Pool ID
  	
   
 	
  
Investor   ID
  	
   
 	
  
AlternateLoanID
  	
   
 	
  
Casenum
  	
   
 	
  
Loan   Amount
  	
   
 	
  
DocType
  	
   
 	
  
Exception
  	
   
 	
  
Exception   Description
  	
   
 	
  
Notation
  
	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  
	
  1272007C31
  	
  
 
  	
  
Berwick Marketplace
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859638
  	
  
 
  	
  
MOOR
  	
  
 
  	
  
7,200,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  1282007C31
  	
  
 
  	
  
Wind Tree
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859374
  	
  
 
  	
  
KILP
  	
  
 
  	
  
7,140,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
Being Delivered This   Morning
  
	
  
1302007C31
  	
  
 
  	
  
Burnsville Medical Center
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2858843
  	
  
 
  	
  
MOOR
  	
  
 
  	
  
7,050,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  1342007C31
  	
  
 
  	
  
Bayport - Church Street
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859100
  	
  
 
  	
  
MOOR
  	
  
 
  	
  
6,480,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  
1362007C31
  	
  
 
  	
  
CVS - 231 N. Graham Street,   Charlotte, NC
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859006
  	
  
 
  	
  
W&ST
  	
  
 
  	
  
6,250,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  1372007C31
  	
  
 
  	
  
Baldwin Transfer- 1505   & 1507 Telegraph
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2858179
  	
  
 
  	
  
MOOR
  	
  
 
  	
  
6,200,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  
1382007C31
  	
  
 
  	
  
Wendover Plaza
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2858652
  	
  
 
  	
  
MOOR
  	
  
 
  	
  
6,200,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  1392007C31
  	
  
 
  	
  
Parkway Place
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2858842
  	
  
 
  	
  
MOOR
  	
  
 
  	
  
6,100,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  
1442007C31
  	
  
 
  	
  
Sweetwater Shopping Center
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859606
  	
  
 
  	
  
KILP
  	
  
 
  	
  
5,840,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  1452007C31
  	
  
 
  	
  
GSA Building- Orlando
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2855914
  	
  
 
  	
  
KILP
  	
  
 
  	
  
5,840,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  
1462007C31
  	
  
 
  	
  
Cesar Chavez
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859476
  	
  
 
  	
  
CADW
  	
  
 
  	
  
5,800,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  1482007C31
  	
  
 
  	
  
FBI Building - Nashville,   TN
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2855215
  	
  
 
  	
  
KILP
  	
  
 
  	
  
5,680,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  
1492007C31
  	
  
 
  	
  
Rochester Country Inn &   Suites
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859212
  	
  
 
  	
  
MOOR
  	
  
 
  	
  
5,500,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  1502007C31
  	
  
 
  	
  
Pear Tree Apartments
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859943
  	
  
 
  	
  
KILP
  	
  
 
  	
  
5,480,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  
1522007C31
  	
  
 
  	
  
Holly Glenn Apartments
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2857670
  	
  
 
  	
  
KILP
  	
  
 
  	
  
5,375,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  1542007C31
  	
  
 
  	
  
Best Buy
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2858177
  	
  
 
  	
  
KILP
  	
  
 
  	
  
5,225,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  
1552007C31
  	
  
 
  	
  
Blackhawk Office Building
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859438
  	
  
 
  	
  
MOOR
  	
  
 
  	
  
5,100,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  1602007C31
  	
  
 
  	
  
Hawthorn Suites - Austin
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859567
  	
  
 
  	
  
KILP
  	
  
 
  	
  
4,580,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  
1622007C31
  	
  
 
  	
  
2580 Diehl Rd
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859450
  	
  
 
  	
  
KILP
  	
  
 
  	
  
4,480,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  1632007C31
  	
  
 
  	
  
Carson
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859475
  	
  
 
  	
  
CADW
  	
  
 
  	
  
4,400,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  
1692007C31
  	
  
 
  	
  
Chatsworth
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859477
  	
  
 
  	
  
CADW
  	
  
 
  	
  
4,000,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  1712007C31
  	
  
 
  	
  
CVS San Antonio
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859512
  	
  
 
  	
  
MOOR
  	
  
 
  	
  
3,750,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  
1722007C31
  	
  
 
  	
  
Airport Center Warehouse
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2858934
  	
  
 
  	
  
MOOR
  	
  
 
  	
  
3,500,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  1732007C31
  	
  
 
  	
  
Redwood Terrace
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2858225
  	
  
 
  	
  
KILP
  	
  
 
  	
  
3,500,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  
1742007C31
  	
  
 
  	
  
Duluth II
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2857801
  	
  
 
  	
  
MOOR
  	
  
 
  	
  
3,440,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  1762007C31
  	
  
 
  	
  
Oceana Distribution Center
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2858721
  	
  
 
  	
  
KILP
  	
  
 
  	
  
3,400,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  
1772007C31
  	
  
 
  	
  
Clanton Shopping Center
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859011
  	
  
 
  	
  
MOOR
  	
  
 
  	
  
3,308,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  1782007C31
  	
  
 
  	
  
Oaklandg
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859479
  	
  
 
  	
  
CADW
  	
  
 
  	
  
3,200,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  
1812007C31
  	
  
 
  	
  
La Marque Crossing
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859119
  	
  
 
  	
  
MOOR
  	
  
 
  	
  
3,030,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  1832007C31
  	
  
 
  	
  
North Hollywood
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2859478
  	
  
 
  	
  
CADW
  	
  
 
  	
  
2,600,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  
1852007C31
  	
  
 
  	
  
Frys Shopping Center
  	
  
 
  	
  
2007C31
  	
  
 
  	
  
WACH
  	
  
 
  	
  
2815701
  	
  
 
  	
  
MOOR
  	
  
 
  	
  
2,070,000.00
  	
  
 
  	
  
ALNV
  	
  
 
  	
  
94
  	
  
 
  	
  
OUT FOR EXECUTION
  	
  
 
  	
  
WACH TO BLANK
  
	
  112007C31
  	
   
  	
  Lembi Pool(4)
  	
   
  	
  2007C31
  	
   
  	
  NCCI
  	
   
  	
   
 	
   
  	
   
  	
   
  	
  122,500,000.00
  	
   
  	
  NOTE
  	
   
  	
  14
  	
   
  	
  NOTE DOES NOT MATCH   SCHEDULE; NOTE = $142,500,000.00
  	
   
  	
  WE WILL BE RECEIVING NEW   NOTE BY OVERNIGHT MAIL
  













COMMERCIAL EXCEPTION CODES


Wells Fargo Commercial Exception Codes

	
  
EX. CODE
  	
  
 
  	
  
DESCRIPTION
  
	
  


  	
  
 
  	
  


  
	
  
01
  	
  
 
  	
  
Missing
  
	
  
02
  	
  
 
  	
  
Document is Copy
  
	
  
03
  	
  
 
  	
  
Doc is a Copy, but not Certified True and   Correct”
  
	
  04
  	
  
 
  	
  
Pages are Missing from Document
  
	
  
05
  	
  
 
  	
  
Damaged Document
  
	
  
06
  	
  
 
  	
  
Incorrect Form
  
	
  
07
  	
  
 
  	
  
Date is Incorrect
  
	
  
08
  	
  
 
  	
  
Loan Number does not agree with Schedule
  
	
  
09
  	
  
 
  	
  
Property Address does not agree with   Schedule
  
	
  
10
  	
  
 
  	
  
Interest Rate does not agree with Schedule
  
	
  11
  	
  
 
  	
  
Interest Rate (alpha & numeric) do not   agree
  
	
  
12
  	
  
 
  	
  
Date of First Payment does not agree with   Schedule
  
	
  
13
  	
  
 
  	
  
Date of Last Payment does not agree with   Schedule
  
	
  
14
  	
  
 
  	
  
Loan Amount does not agree with Schedule
  
	
  
15
  	
  
 
  	
  
Loan Amount (alpha & numeric) do not   agree
  
	
  
16
  	
  
 
  	
  
Monthly P&I does not agree with   Schedule
  
	
  
17
  	
  
 
  	
  
P&I (alpha & numeric) do not agree
  
	
  18
  	
  
 
  	
  
Mortgagor Name(s) does not agree with   Schedule
  
	
  
19
  	
  
 
  	
  
Legal Description is Missing/Incorrect
  
	
  
20
  	
  
 
  	
  
Unrecorded Original
  
	
  
21
  	
  
 
  	
  
White-out / Corrections Not Initialed
  
	
  
22
  	
  
 
  	
  
Endorsement(s) is Missing/Incorrect
  
	
  
23
  	
  
 
  	
  
Notary, Acknowledgment, or Witness Information   is Missing
  
	
  
24
  	
  
 
  	
  
Name is Missing/Incorrect
  
	
  25
  	
  
 
  	
  
Signature(s) does not agree with Typed   Name(s)
  
	
  
26
  	
  
 
  	
  
Signature is Missing
  
	
  
28
  	
  
 
  	
  
Signature Date is Missing
  
	
  
29
  	
  
 
  	
  
Title Insurance Coverage is Insufficient
  
	
  
31
  	
  
 
  	
  
Trustee Name is Missing/Incorrect
  
	
  
33
  	
  
 
  	
  
Case Number does not agree with Schedule
  
	
  
34
  	
  
 
  	
  
Commitment Number does not agree with   Schedule
  
	
  44
  	
  
 
  	
  
Schedule A is Incorrect
  
	
  
45
  	
  
 
  	
  
County Missing/Incorrect
  
	
  
46
  	
  
 
  	
  
Loan Reference Missing/Incorrect
  
	
  
47
  	
  
 
  	
  
Incomplete Information
  
	
  
52
  	
  
 
  	
  
Document Does Not Belong in File
  
	
  
59
  	
  
 
  	
  
Assumption Endorsement Missing
  
	
  
66
  	
  
 
  	
  
Rider Missing
  
	
  68
  	
  
 
  	
  
Certified True Copy sent for Recording
  
	
  
69
  	
  
 
  	
  
Recorded Copy (Where the recording   information and signature are both copies and not county certified)
  
	
  
70
  	
  
 
  	
  
Processing and or submitted for recording
  
	
  
90
  	
  
 
  	
  
Lost Note Affidavit in file
  
	
  
92
  	
  
 
  	
  
Document being created and or executed
  
	
  
94
  	
  
 
  	
  
Out for execution
  
	
  
96
  	
  
 
  	
  
Unrecorded Copy
  
	
  97
  	
  
 
  	
  
ADDITIONAL DOCUMENTS IN FILE
  
	
  
98
  	
  
 
  	
  
Title Commitment Received
  
	
  
109
  	
  
 
  	
  
Rec’d ASUM need UCC amendment or new filing
  
	
  
111
  	
  
 
  	
  
Recorded document sent to be re-recorded
  
	
  
115
  	
  
 
  	
  
Processing and or submitted for recording   to Issuer vendor
  
	
  
121
  	
  
 
  	
  
Recording Search and/or Confirmation of   Filing
  











COMMERCIAL DOCUMENT CODE LISTING


	
  
DOCTYPE
  	
   
 	
  
DESCRIPTION
  	
   
 	
  
ADDITIONAL   COMMENTS
  
	
  


  	
  
 
  	
  


  	
  
 
  	
  


  
	
  
ACC1
  	
  
 
  	
  
NEW UCC1 ASUM FILING
  	
  
 
  	
  
NEW COUNTY UCC NEEDED FOR ASSUMPTION
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  ACC3
  	
  
 
  	
  
AMEND/TERM FOR OLD BORR
  	
  
 
  	
  
TERMINATION OF ORIGINAL BORROWER IN   ASUM-COUNTY
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
ACS1
  	
  
 
  	
  
NEW UCS1 ASUM FILING
  	
  
 
  	
  
NEW STATE UCC NEEDED FOR ASSUMPTION
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
ACS3
  	
  
 
  	
  
AMEND/TERM FOR OLD BORR
  	
  
 
  	
  
TERMINATION OF ORIGINAL BORROWER IN   ASUM-STATE
  
	
   
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
AFFD
  	
  
 
  	
  
NAME AFFIDAVIT
  	
  
 
  	
  
DOCUMENT THAT LISTS THE NAME(S) THAT THE   BORROWER(S) ARE ALTERNATIVELY KNOW AS
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
ALN (1-9)
  	
  
 
  	
  
INTERVENING ALLONGE
  	
  
 
  	
  
ADDITIONAL PAGE(S) OF THE NOTE THAT CONTAIN   INTERVENING ENDORSEMENT(S)
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  ALNV
  	
  
 
  	
  
FINAL ALLONGE
  	
  
 
  	
  
FINAL NOTE ENDORSEMENT
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
AMRT
  	
  
 
  	
  
AMORTIZATION SCHEDULE
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
APPR
  	
  
 
  	
  
APPRAISAL
  	
  
 
  	
  
DOCUMENT THAT IS USED TO EVALUATE THE VALUE   OF A PARTICULAR PIECE OF PROPERTY; IT MAY CONTAIN MULTIPLE PAGES AND/OR   SECTIONS
  
	
   
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
ASL1 *
  	
  
 
  	
  
ASSIGNMENT 1 OF ASSIGNMENT  OF LEASES AND RENTS
  	
  
 
  	
  
ALSO REFERRED TO AS THE ASSIGNMENT OF   ASSIGNMENT 1 OF LEASES AND RENTS; DOCUMENT TRANSFERS OWNERSHIP OF THE   MORTGAGE FROM ONE LENDER TO ANOTHER LENDER
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
ASL2 *
  	
  
 
  	
  
ASSIGNMENT 2 OF ASSIGNMENT  OF LEASES AND RENTS
  	
  
 
  	
  
ALSO REFERRED TO AS THE ASSIGNMENT OF   ASSIGNMENT 2 OF LEASES AND RENTS; DOCUMENT TRANSFERS OWNERSHIP OF THE   ASSIGNMENT OF LEASES AND RENTS  FROM   ONE LENDER TO ANOTHER LENDER
  
	
   
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
ASL3 *
  	
  
 
  	
  
ASSIGNMENT 3 OF ASSIGNMENT  OF LEASES AND RENTS
  	
  
 
  	
  
ALSO REFERRED TO AS THE ASSIGNMENT OF   ASSIGNMENT 3 OF LEASES AND RENTS; DOCUMENT TRANSFERS OWNERSHIP OF THE   ASSIGNMENT OF LEASES AND RENTS  FROM   ONE LENDER TO ANOTHER LENDER
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
ASL4 *
  	
  
 
  	
  
ASSIGNMENT 4 OF ASSIGNMENT  OF LEASES AND RENTS
  	
  
 
  	
  
ALSO REFERRED TO AS THE ASSIGNMENT OF   ASSIGNMENT 4 OF LEASES AND RENTS;    DOCUMENT TRANSFERS OWNERSHIP OF THE ASSIGNMENT OF LEASES AND   RENTS  FROM ONE LENDER TO ANOTHER   LENDER
  
	
   
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
ASLQ
  	
  
 
  	
  
ASSIGNMENT OF LIQUOR LICENSE
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
ASLR *
  	
  
 
  	
  
ASSIGNMENT OF LEASES AND RENTS
  	
  
 
  	
  
NAMED THE ASSIGNMENT OF LEASES AND RENTS;   THIS DOCUMENT SERVES TO TRANSFER ANY/ALL LEASES ASSOCIATED WITH THE PROPERTY   FROM THE BORROWER TO THE ORIGINAL LENDER UNDER THE CONTRACTUAL CONDITIONS   FOUND IN THE DOCUMENT
  
	
   
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
ASLV *
  	
  
 
  	
  
INVESTOR ASSIGNMENT  OF ASSIGNMENT  OF LEASES AND RENTS
  	
  
 
  	
  
ALSO REFERRED TO AS THE INVESTOR ASSIGNMENT   OF ASSIGNMENT OF LEASES AND RENTS; DOCUMENT TRANSFERS OWNERSHIP OF THE   ASSIGNMENT OF LEASES AND RENTS  FROM   ONE LENDER TO ANOTHER LENDER; USUALLY IT ENDS IN “WELLS FARGO or NORWEST BANK   MINNESOTA, N.A., AS TRUSTEE ...”
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
ASN1 *
  	
  
 
  	
  
ASSIGNMENT 1
  	
  
 
  	
  
ALSO REFERRED TO AS THE ASSIGNMENT 1 OF   MORTGAGE;  DOCUMENT TRANSFERS   OWNERSHIP OF THE MORTGAGE  FROM ONE   LENDER TO ANOTHER LENDER
  
	
   
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
ASN2 *
  	
  
 
  	
  
ASSIGNMENT 2
  	
  
 
  	
  
ALSO REFERRED TO AS THE ASSIGNMENT 2 OF   MORTGAGE;  DOCUMENT TRANSFERS   OWNERSHIP OF THE MORTGAGE  FROM ONE   LENDER TO ANOTHER LENDER
  
	 
	  
	  
	  
	  

	 ASN3 *
	  
	 ASSIGNMENT 3
	  
	 ALSO REFERRED TO AS THE ASSIGNMENT 3 OF MORTGAGE;  DOCUMENT TRANSFERS OWNERSHIP OF THE MORTGAGE  FROM ONE LENDER TO ANOTHER LENDER






	
  
    1   OF 3 
  	
  
*=DOCUMENT S/B RECORDED     
  











COMMERCIAL DOCUMENT CODE LISTING

	
  DOCTYPE
  	
   
 	
  
DESCRIPTION
  	
   
 	
  
ADDITIONAL COMMENTS
  
	
  


  	
  
 
  	
  


  	
  
 
  	
  


  
	
  
ASN4 *
  	
  
 
  	
  
ASSIGNMENT 4
  	
  
 
  	
  
ALSO REFERRED TO AS THE ASSIGNMENT 4 OF   MORTGAGE;  DOCUMENT TRANSFERS   OWNERSHIP OF THE MORTGAGE  FROM ONE   LENDER TO ANOTHER LENDER
  
	
   
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
ASN5 *
  	
  
 
  	
  
ASSIGNMENT 5
  	
  
 
  	
  
ALSO REFERRED TO AS THE ASSIGNMENT 5 OF   MORTGAGE;  DOCUMENT TRANSFERS   OWNERSHIP OF THE MORTGAGE  FROM ONE   LENDER TO ANOTHER LENDER
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
ASN6 *
  	
  
 
  	
  
ASSIGNMENT 6
  	
  
 
  	
  
ALSO REFERRED TO AS THE ASSIGNMENT 6 OF   MORTGAGE;  DOCUMENT TRANSFERS   OWNERSHIP OF THE MORTGAGE  FROM ONE   LENDER TO ANOTHER LENDER
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  ASN7 *
  	
  
 
  	
  
ASSIGNMENT 7
  	
  
 
  	
  
ALSO REFERRED TO AS THE ASSIGNMENT 7 OF   MORTGAGE;  DOCUMENT TRANSFERS   OWNERSHIP OF THE MORTGAGE  FROM ONE   LENDER TO ANOTHER LENDER
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
ASN8 *
  	
  
 
  	
  
ASSIGNMENT 8
  	
  
 
  	
  
ALSO REFERRED TO AS THE ASSIGNMENT 8 OF   MORTGAGE;  DOCUMENT TRANSFERS   OWNERSHIP OF THE MORTGAGE  FROM ONE   LENDER TO ANOTHER LENDER
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
ASN9 *
  	
  
 
  	
  
ASSIGNMENT 9
  	
  
 
  	
  
ALSO REFERRED TO AS THE ASSIGNMENT 9 OF   MORTGAGE; DOCUMENT TRANSFERS OWNERSHIP OF THE MORTGAGE  FROM ONE LENDER TO ANOTHER LENDER
  
	
   
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
ASNB *
  	
  
 
  	
  
BLANKET ASSIGNMENT
  	
  
 
  	
  
DOCUMENT TRANSFERS OWNERSHIP OF THE   MORTGAGE  FROM ONE LENDER TO ANOTHER   LENDER; AN ASSIGNMENT OF MORTGAGE THAT IS USED TO TRANSFER OWNERSHIP OF MORE   THAN ONE INDIVIDUAL LOAN AT A TIME
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
ASNV *
  	
  
 
  	
  
INVESTOR ASSIGNMENT
  	
  
 
  	
  
ALSO REFERRED TO AS THE INVESTOR ASSIGNMENT   OF MORTGAGE; DOCUMENT TRANSFERS OWNERSHIP OF THE MORTGAGE  FROM ONE LENDER TO ANOTHER LENDER; USUALLY   IT ENDS IN “WELLS FARGO or NORWEST BANK MINNESOTA, N.A., AS TRUSTEE ...”
  
	
   
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
ASPW
  	
  
 
  	
  
ASSIGNMENT OF PERMITS & WARRANTIES
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
ASSE
  	
  
 
  	
  
ASSET MANAGER AGREEMENT
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  ASUM
  	
  
 
  	
  
ASSUMPTION AGREEMENT
  	
  
 
  	
  
DOCUMENT TRANSFERS THE RIGHTS, TERMS, OR   CONDITIONS OF ANY / ALL DOCUMENTS IN THE FILE FROM ONE BORROWER TO ANOTHER   BORROWER
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
ATTY
  	
  
 
  	
  
ATTORNEYS OPINION
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
BOFS
  	
  
 
  	
  
BILL OF SALE
  	
  
 
  	
  
 
  
	
   
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
BUYD
  	
  
 
  	
  
BUYDOWN AGREEMENT
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
CEM
  	
  
 
  	
  
CONSOLIDATION AGREEMENT
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  CKLT
  	
  
 
  	
  
LOAN FILE CHECKLIST
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
CNFS
  	
  
 
  	
  
CERTIFICATE OF NON-FOREIGN STATUS
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
COFS
  	
  
 
  	
  
CONTRACT OF SALE
  	
  
 
  	
  
 
  
	
   
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
COM1 (--9)*
  	
  
 
  	
  
COMBINATION
  	
  
 
  	
  
ASSIGNMENT DOCUMENT ASSIGNING TWO OR MORE   INTERVENING ASSIGNMENTS IN ONE
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
COMV*
  	
  
 
  	
  
COMBINATION
  	
  
 
  	
  
FINAL ASSIGNMENT DOCUMENT ASSIGNING TWO OR   MORE DOCUMENTS WITH ONE
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  CONV
  	
  
 
  	
  
CONVERSION AGREEMENT
  	
  
 
  	
  
 
  
	  
	  
	  
	  
	  

	COOP
	  
	 CO-OP
	  
	 A TYPE OF LOAN THAT HAS DIFFERENT REVIEW REQUIREMENTS THAN NORMAL COMMERCIAL LOANS

	  
	  
	  
	  
	  

	 CTRL
	  
	 CREDIT LEASE / CREDIT TENANT LEASE
	  
	  

	  
	  
	  
	  
	  

	 DEE1
	  
	 ADDITIONAL DEED
	  
	  

	  
	  
	  
	  
	  

	 DEE2
	  
	 2ND ADDITIONAL DEED
	  
	  

	  
	  
	  
	  
	  

	DEFS
	  
	 DEFEASANCE DOCUMENTS
	  
	  

	  
	  
	  
	  
	  

	 ENVI
	  
	 ENVIRONMENTAL INDEMNITY
	  
	  

	  
	  
	  
	  
	  

	 ENAS
	  
	 ENVIRONMENTAL ASSESSMENT
	  
	 ENVIRONMENTAL POLICY OR PHASE I ENVIRONMENTAL ASSESSMENT






	
  
    2   OF 3 
  	
  
*=DOCUMENT S/B RECORDED     
  











COMMERCIAL DOCUMENT CODE LISTING

	
  
DOCTYPE
  	
   
 	
  
DESCRIPTION
  	
   
 	
  
ADDITIONAL   COMMENTS
  
	
  


  	
   
 	
  


  	
   
 	
  


  
	
  
ESCR
  	
  
 
  	
  
ESCROW AGREEMENT
  	
  
 
  	
  
 
  
	  
	  
	  
	  
	  

	
  
ESTO
  	
  
 
  	
  
ESTOPPEL LETTER/AGREEMENT
  	
  
 
  	
  
FRANCHISOR OR LESSOR
  
	  
	  
	  
	  
	  

	
  FILE
  	
  
 
  	
  
LOAN FILE
  	
  
 
  	
  
REFERS TO THE FILE FOLDER OR ALL OF THE   INDIVIDUAL DOCUMENTS ASSOCIATED WITH A INDIVIDUAL LOAN
  
	  
	  
	  
	  
	  

	
  
FRAN
  	
  
 
  	
  
FRANCHISE AGREEMENT
  	
  
 
  	
  
(OR TARGET RESERVATION AGREEMENT FOR   CONSTRUCTION LOAN)
  
	  
	  
	  
	  
	  

	
  
GRND
  	
  
 
  	
  
GROUND LEASE
  	
  
 
  	
  
 
  
	  
	  
	  
	  
	  

	
  
GUAR
  	
  
 
  	
  
GUARANTY AGREEMENT
  	
  
 
  	
  
 
  
	  
	  
	  
	  
	  

	
  
HAZA
  	
  
 
  	
  
HAZARD POLICY
  	
  
 
  	
  
 
  
	  
	  
	  
	  
	  

	
  ICAG
  	
  
 
  	
  
INTERCREDITOR AGREEMENT
  	
  
 
  	
  
 
  
	  
	  
	  
	  
	  

	
  
IRCA
  	
  
 
  	
  
INTEREST RATE CAP AGREEMENT
  	
  
 
  	
  
 
  
	  
	  
	  
	  
	  

	
  
LAGR
  	
  
 
  	
  
MORTGAGE LOAN AGREEMENT
  	
  
 
  	
  
 
  
	  
	  
	  
	  
	  

	
  
LCRD
  	
  
 
  	
  
LETTER OF CREDIT
  	
  
 
  	
  
 
  
	  
	  
	  
	  
	  

	
  
LEAS
  	
  
 
  	
  
LEASE DOCUMENT
  	
  
 
  	
  
LEASE DOCUMENT OTHER THAN THE ASSIGNMENT OF   LEASES AND RENTS
  
	  
	  
	  
	  
	  

	
  LEGL
  	
  
 
  	
  
LEGAL DESCRIPTION DOCUMENT
  	
  
 
  	
  
 
  
	  
	  
	  
	  
	  

	
  
MERG
  	
  
 
  	
  
MERGER DOCUMENT
  	
  
 
  	
  
 
  
	  
	  
	  
	  
	  

	
  
MODF
  	
  
 
  	
  
MODIFICATION AGREEMENT
  	
  
 
  	
  
 
  
	  
	  
	  
	  
	  

	
  
MORT
  	
  
 
  	
  
MORTGAGE/DEED OF TRUST
  	
  
 
  	
  
 
  
	  
	  
	  
	  
	  

	
  
NOTA
  	
  
 
  	
  
NOTICE OF ASSIGNMENT
  	
  
 
  	
  
 
  
	  
	  
	  
	  
	  

	
  NOT1
  	
  
 
  	
  
ADD’L NOTE
  	
  
 
  	
  
 
  
	  
	  
	  
	  
	  

	
  
NOT2
  	
  
 
  	
  
2ND ADDITIONAL NOTE
  	
  
 
  	
  
 
  
	  
	  
	  
	  
	  

	
  
NOTE
  	
  
 
  	
  
MTG NOTE
  	
  
 
  	
  
 
  
	  
	  
	  
	  
	  

	
  
OMNI/AGRE
  	
  
 
  	
  
ASSIGNMENT OF AGREEMENTS
  	
  
 
  	
  
ALSO KNOWN AS THE OMNIBUS ASSIGNMENT;   DOCUMENT SERVES TO TRANSFER ANY ADDITIONAL RIGHTS, SERVICES, PROPERTY, AND   OTHER MISCELLANEOUS RIGHTS (THAT ARE NOT COVERED BY THE MORTGAGE, ASSIGNMENT   OF LEASES AND RENTS, OR UCC’S) FROM THE BORROWER TO THE ORIGINAL LENDER
  
	  
	  
	  
	  
	  

	
  PMI
  	
  
 
  	
  
PRIVATE MORTGAGE INSURANCE
  	
  
 
  	
  
 
  
	  
	  
	  
	  
	  

	
  
POA
  	
  
 
  	
  
POWER OF ATTORNEY
  	
  
 
  	
  
 
  
	  
	  
	  
	  
	  

	
  
QCLD
  	
  
 
  	
  
QUIT CLAIM DEED
  	
  
 
  	
  
 
  
	  
	  
	  
	  
	  

	
  
RECG
  	
  
 
  	
  
RECOGINITION AGREEMENT
  	
  
 
  	
  
 
  
	  
	  
	  
	  
	  

	
  
RECP
  	
  
 
  	
  
RECEIPT & CLOSING CERTIFICATE
  	
  
 
  	
  
 
  
	  
	  
	  
	  
	  

	
  RIDR
  	
  
 
  	
  
RIDERS
  	
  
 
  	
  
 
  
	  
	  
	  
	  
	  

	
  
SCER
  	
  
 
  	
  
STOCK CERTIFICATE
  	
  
 
  	
  
DOCUMENT THAT IS USUALLY ASSOCIATED WITH   CO-OP LOANS
  
	  
	  
	  
	  
	  

	
  
SCHD
  	
  
 
  	
  
POOL SCHEDULE
  	
  
 
  	
  
 
  
	  
	  
	  
	  
	  

	
  
SECI  *
  	
  
 
  	
  
SECURITY INSTRUMENT
  	
  
 
  	
  
 
  
	  
	  
	  
	  
	  

	
  
SINS
  	
  
 
  	
  
SITE INSPECTION
  	
  
 
  	
  
 
  
	  
	  
	  
	  
	  

	
  SPOW
  	
  
 
  	
  
STOCK POWER
  	
  
 
  	
  
DOCUMENT THAT IS USUALLY ASSOCIATED WITH   CO-OP LOANS
  
	  
	  
	  
	  
	  

	
  
SUBD
  	
  
 
  	
  
SUBORDINATION AGREEMENT
  	
  
 
  	
  
 
  
	  
	  
	  
	  
	  

	
  
SURV
  	
  
 
  	
  
SURVEY
  	
  
 
  	
  
 
  
	  
	  
	  
	  
	  

	
  
SUR1
  	
  
 
  	
  
FINAL SURVEY AS/BUILT
  	
  
 
  	
  
(FOR CONSTRUCTION LOANS)
  
	  
	  
	  
	  
	  

	
  
TCMT
  	
  
 
  	
  
TITLE COMMITMENT
  	
  
 
  	
  
 
  
	  
	  
	  
	  
	  

	 TENT
	  
	 TENT ESTOPPEL
	  
	  

	 
	  
	  
	  
	  

	 TPOL
	  
	 TITLE POLICY
	  
	  

	  
	  
	  
	  
	  

	 UCC1 *
	  
	 UCC-1 (COUNTY)
	  
	 COUNTY FILING TO ORIGINAL LENDER

	  
	  
	  
	  
	  

	UC31 (---9)*
	  
	 INTERVENING UCC-3 (COUNTY)
	  
	 COUNTY FILING - INTERVENING LENDERS

	  
	  
	  
	  
	  

	 UCC3 *
	  
	 UCC-3 (COUNTY)
	  
	 COUNTY FILING TO WELLS FARGO OR TRUSTEE

	  
	  
	  
	  
	  

	 UCS1 *
	  
	 UCC-1 (STATE)
	  
	 STATE FILING TO ORIGINAL LENDER

	 
	  
	  
	  
	  

	 US31 (---9)*
	  
	 INTERVENING UCC-3 (STATE)
	  
	 STATE FILING - INTERVENING LENDERS

	  
	  
	  
	  
	  

	 UCS3 *
	  
	 UCC-3 (STATE)
	  
	 STATE FILING TO WELLS FARGO OR TRUSTEE

	  
	  
	  
	  
	  

	WDED
	 
	WARRANTY DEED
	 
	 






	
  
    3 OF 3   
  	
  
*=DOCUMENT S/B RECORDED     
  











EXHIBIT C-2


FORM OF CUSTODIAL CERTIFICATION


[Date]

	
  
Wachovia Bank, National Association
  
	
  
301 South College Street
  
	
  
One Wachovia Center
  
	
  
Charlotte, North Carolina  28288
  
	
  
 
  
	
  
Barclays Capital Inc.
  
	
  
200 Park Avenue
  
	
  
New York, New York 10166
  
	
   
  
	
  
Nomura Credit & Capital, Inc.
  
	
  
2 World Financial Center
  
	
  
Building B
  
	
  
New York, New York 10004
  
	
  
 
  
	
  
Wachovia Commercial Mortgage Securities, Inc.
  
	
  
301 South College Street
  
	
  
One Wachovia Center
  
	
  
Charlotte, North Carolina  28288
  
	
  
Attention:    Barry Reiner
  





	
  
Wachovia Bank, National Association
  
	
  
NC 1075
  
	
  
8739 Research Drive – URP4
  
	
  
Charlotte, North Carolina  28262-1075
  
	
  Attention:
  	
  
Wachovia Bank Commercial Mortgage Trust,
  
	
  
 
  	
  
Commercial Mortgage Pass-Through Certificates,   Series 2007-C31
  





	
  
LNR Partners, Inc.
  
	
  
1601 Washington Avenue,   Suite 700
  
	
  
Miami Beach, Florida 33139
  
	
  
Attention:  Randy Wilbert
  





	
  
 
  	
  
Re:
  	
  
Wachovia Bank Commercial Mortgage Trust,
  
	
  
 
  	
  
 
  	
  
Commercial Mortgage Pass-Through Certificates,   Series 2007-C31
  



Ladies and Gentlemen:


                                (a)          Wells Fargo Bank, N.A., as Trustee, hereby certifies to the above referenced parties that, with respect to each Mortgage Loan (and with respect to a Companion Loan, only those items required pursuant to the definition of “Mortgage File”) listed in the 


C-2-1









Mortgage Loan Schedule, except as specifically identified in the schedule of exceptions annexed thereto, (i) without regard to the proviso in the definition of “Mortgage File,” all documents specified in clauses (i), (ii), (iv)(a), (v) and (vii), and to the extent provided in the related Mortgage File and actually known by a Responsible Officer of the Trustee to be required, clauses (iii), (iv)(b), (iv)(c), (vi), (viii) and (ix) through (xv) of the definition of “Mortgage File” are in its possession, (ii) all documents delivered or caused to be delivered by the applicable Mortgage Loan Seller constituting the related Mortgage File have been reviewed by it and appear regular on their face and appear to relate to such Mortgage Loan, (iii) based on such examination and only as to the foregoing documents, the information set forth in the Mortgage Loan Schedule for such Mortgage Loan with respect to the items specified in clauses (v) and (vi)

(c) of the definition of “Mortgage Loan Schedule” is correct and (iv) solely with respect to the Companion Loans, all documents specified in clause (xiii) of the definition of Mortgage File are in its possession.  Further, with respect to the documents described in clause (viii) of the definition of Mortgage File, the Trustee may assume, for purposes of the certification delivered in Section 2.02(b) of the Pooling and Servicing Agreement and for purposes of determining (subject to the proviso at the end of this sentence) where to file UCC Financing Statements, that the related Mortgage File should include one state level UCC Financing Statement filing in the state of incorporation of the Mortgagor for each Mortgaged Property (or with respect to any Mortgage Loan that has two or more Mortgagors, for each Mortgagor); provided, however, that to the extent the Trustee has actual knowledge or is notified of any fixture or real property UCC Financing Statements filed in the
county of the state where the related Mortgaged Property is located, the Trustee shall file an assignment to the Trust Fund with respect to such UCC Financing Statements in the appropriate jurisdiction under the UCC at the expense of the related Mortgage Loan Seller.  The UCC Financing Statements to be assigned to the Trust Fund pursuant to Section 2.01(d) of the Pooling and Servicing Agreement will be delivered by the related Mortgage Loan Seller to the Trustee on the new national forms, in recordable form and completed pursuant to Revised Article IX of the UCC.  The Trustee will submit such UCC Financing Statements for filing in the state of incorporation of the related Mortgagor as so indicated on the documents provided.


                                None of the Trustee, the Master Servicer, the Special Servicer or any Custodian is under any duty or obligation to inspect, review or examine any of the documents, instruments, certificates or other papers relating to the Mortgage Loans delivered to it to determine that the same are valid, legal, effective, genuine, enforceable, in recordable form, sufficient or appropriate for the represented purpose or that they are other than what they purport to be on their face.  Capitalized terms used herein and not otherwise defined shall have the respective meanings assigned to them under the Pooling and Servicing Agreement.

	
  
Respectfully,
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  


  
	
  
 
  	
  
Name:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  
	
   
  	
  
Title:
  	
  
 
  
	
  
 
  	
  
 
  	
  


  




C-2-2









EXHIBIT D-1


FORM OF MASTER SERVICER REQUEST FOR RELEASE


[Date]

	
  
Wells Fargo Bank, N.A.
  
	
  
CMBS Department
  
	
  
1055 10th Avenue SE
  
	
  
Minneapolis, MN 55414
  





	
  
Attn:
  	
  
Corporate Trust Services - Wachovia Bank Commercial   Mortgage
  
	
   
  	
  
Trust, Commercial Mortgage Pass-Through   Certificates, Series 2007-C31
  





	
  
 
  	
  
Re
  	
  
Wachovia Bank Commercial Mortgage Trust,
  
	
  
 
  	
  
 
  	
  
Commercial Mortgage Pass-Through Certificates,   Series 2007-C31
  




Ladies and Gentlemen:


                                In connection with the administration of the Mortgage Files held by you as Trustee under a certain pooling and servicing agreement, dated as of May 1, 2007 (the “Pooling and Servicing Agreement”), by and among Wachovia Commercial Mortgage Securities, Inc., as Depositor, Wachovia Bank, National Association, as Master Servicer, LNR Partners, Inc., as Special Servicer, and Wells Fargo Bank, N.A., as Trustee, the undersigned hereby requests a release of the Mortgage File (or the portion thereof specified below) held by you with respect to the following described Mortgage Loan for the reason indicated below.


Property Name:


Property Address:


Control No.:


The Mortgage File should be delivered to the following:

	
  
 
  	
  
____________________________________________
  
	
  
 
  	
  
____________________________________________
  
	
  
 
  	
  
____________________________________________
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
Attn:
  	
  
____________________________________
  
	
  
 
  	
  
Phone:
  	
  
____________________________________
  



D-1-1









If only particular documents in the Mortgage File are requested, please specify which:


Reason for requesting file (or portion thereof):

	
  
_____
  	
  
1.
  	
  
Mortgage Loan paid in full.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
The Master Servicer hereby certifies that all   amounts received in connection with the Mortgage Loan that are required to be   credited to the Certificate Account pursuant to the Pooling and Servicing   Agreement have been or will be so credited.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
_____
  	
  
2.
  	
  
Other.    (Describe)
  
	
   
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
___________________________________________________________________________________________
  
	
  
 
  	
  
 
  	
  
___________________________________________________________________________________________
  




                    The undersigned acknowledges that the above Mortgage File (or requested portion thereof) will be held by the undersigned in accordance with the provisions of the Pooling and Servicing Agreement and will be returned to you or your designee within ten (10) days of our receipt thereof, unless the Mortgage Loan has been paid in full, in which case the Mortgage File (or such portion thereof) will be retained by us permanently.


                    Capitalized terms used but not defined herein shall have the meanings ascribed to them in the Pooling and Servicing Agreement.

	
  
 
  	
  
WACHOVIA BANK, NATIONAL ASSOCIATION, as Master   Servicer
  
	
   
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
___________________________________
  
	
  
 
  	
  
Name:
  	
  
___________________________________
  
	
  
 
  	
  
Title:
  	
  
___________________________________
  




D-1-2









EXHIBIT D-2


FORM OF SPECIAL SERVICER REQUEST FOR RELEASE


[Date]

	
  
Wells Fargo Bank, N.A.
  
	
  CMBS Department
  
	
  
1055 10th Avenue SE
  
	
  
Minneapolis, MN 55414
  





	
  
Attn:
  	
  
Corporate Trust Services - Wachovia Bank Commercial   Mortgage
  
	
  
 
  	
  
Trust, Commercial Mortgage Pass-Through   Certificates, Series 2007-C31
  





	
  
 
  	
  
Re
  	
  
Wachovia Bank Commercial Mortgage Trust,
  
	
  
 
  	
  
 
  	
  
Commercial Mortgage Pass-Through Certificates,   Series 2007-C31
  



Ladies and Gentlemen:


                    In connection with the administration of the Mortgage Files held by you as Trustee under a certain pooling and servicing agreement, dated as of May 1, 2007 (the “Pooling and Servicing Agreement”), by and among Wachovia Commercial Mortgage Securities, Inc., as Depositor, Wachovia Bank, National Association, as Master Servicer, LNR Partners, Inc., as Special Servicer, and Wells Fargo Bank, N.A., as Trustee, the undersigned hereby requests a release of the Mortgage File (or the portion thereof specified below) held by you with respect to the following described Mortgage Loan for the reason indicated below.


Property Name:


Property Address:


Control No.:


The Mortgage File should be delivered to the following:

	
  
 
  	
  
____________________________________________
  
	
  
 
  	
  
____________________________________________
  
	
  
 
  	
  
____________________________________________
  
	
  
 
  	
  
Attn:
  	
  
____________________________________
  
	
   
  	
  
Phone:
  	
  
____________________________________
  




If only particular documents in the Mortgage File are requested, please specify which:


D-2-1









Reason for requesting file (or portion thereof):

	
  
_____
  	
  
1.
  	
  
The Mortgage Loan is being foreclosed.
 
  
	
  
_____
  	
  
2.
  	
  
Other.    (Describe)
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
______________________________________________________________
  
	
   
  	
  
 
  	
  
______________________________________________________________
  




                    The undersigned acknowledges that the above Mortgage File (or requested portion thereof) will be held by the undersigned in accordance with the provisions of the Pooling and Servicing Agreement and will be returned to you or your designee within ten (10) days of our receipt thereof, unless the Mortgage Loan is being foreclosed, in which case the Mortgage File (or such portion thereof) will be returned when no longer required by us for such purpose.


                    Capitalized terms used but not defined herein shall have the meanings ascribed to them in the Pooling and Servicing Agreement.

	
  
 
  	
  
LNR Partners, Inc., as Special Servicer
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
   
  	
  
By:
  	
  
___________________________________
  
	
  
 
  	
  
Name:
  	
  
___________________________________
  
	
  
 
  	
  
Title:
  	
  
___________________________________
  




D-2-2









EXHIBIT E


CALCULATION OF NOI/DEBT SERVICE COVERAGE RATIOS


                    “Net Cash Flow” shall mean the revenue derived from the use and operation of a Mortgaged Property less operating expenses (such as utilities, administrative expenses, repairs and maintenance, tenant improvement costs, leasing commissions, management fees and advertising), fixed expenses (such as insurance, real estate taxes and, if applicable, ground lease payments) and replacement reserves and an allowance for vacancies and credit losses.  Net Cash Flow does not reflect interest expenses and non-cash items such as depreciation and amortization, and generally does not reflect capital expenditures, but does reflect reserves for replacements and an allowance for vacancies and credit losses.


                    In determining vacancy for the “revenue” component of Net Cash Flow for each Rental Property, the Special Servicer shall rely on the most recent rent roll supplied by the related borrower and where the actual vacancy shown thereon and the market vacancy is less than 1%, the Special Servicer shall assume a 1% vacancy in determining revenue from rents, except that in the case of certain anchored shopping centers, space occupied by anchor or single tenants or other large tenants shall be disregarded in performing the vacancy adjustment due to the length of the related leases or creditworthiness of such tenants, in accordance with the respective Mortgage Loan Seller’s underwriting standards.  Where the actual or market vacancy was not less than 5.0%, the Special Servicer shall determine revenue from rents by generally relying on
the most recent roll supplied and the greater of (a) actual historical vacancy at the related Mortgaged Property, and (b) historical vacancy at comparable properties in the same market as the related Mortgaged Property.  In determining rental revenue for multifamily, self-storage and mobile home park properties, the Special Servicer shall either review rental revenue shown on the certified rolling 12-month operating statements or annualized the rental revenue and reimbursement of expenses shown on rent rolls or operating statements with respect to the prior one to twelve month periods.  For the other Rental Properties, the Special Servicer shall annualize rental revenue shown on the most recent certified rent roll, after applying the vacancy factor, without further regard to the terms (including expiration dates) of the leases shown thereon.  In the case of hospitality properties, gross receipts shall be determined on the basis of adjusted average occupancy not to exceed 75.0% and daily

rates achieved during the prior two to three year annual reporting period.  In the case of residential health care facilities, receipts shall be based on historical occupancy levels, historical operating revenues and the then current occupancy rates. Occupancy rates for private health care facilities shall be within current market ranges and vacancy levels shall be at a minimum of 1%.  In general, any non-recurring items and non-property related revenue shall be eliminated from the calculation except in the case of residential health care facilities.


                    In determining the “expense” component of Net Cash Flow for each Mortgaged Property, the Special Servicer shall rely on the rolling 12-month operating statements and/or full-year or year-to-date financial statements supplied by the related borrower, except that (a) if tax or insurance expense information more current than that reflected in the financial statements is available, the newer information shall be used, (b) with respect to each Mortgaged Property, property management fees shall be assumed to be 3% to 7% of effective gross revenue (except 


E-1









with respect to hospitality properties, where a minimum of 3.1% of gross receipts shall be assumed, and with respect to limited service hospitality properties, where a minimum of 4.0% of gross receipts shall be assumed and, with respect to single tenant properties, where fees as low as 3% of effective gross receipts shall be assumed), (c) assumptions shall be made with respect to reserves for leasing commission, tenant improvement expenses and capital expenditures and (d) expenses shall be assumed to include annual replacement reserves. In addition, in some instances, the Special Servicer may recharacterize as capital expenditures those items reported by borrowers as operating expenses (thus increasing “net cash flow”) where determined appropriate.


E-2









EXHIBIT F-1


FORM OF TRANSFEROR CERTIFICATE


[Date]

	
  
Wells Fargo Bank, N.A.
  
	
  Wells Fargo Center
  
	
  
Sixth Street and Marquette Avenue
  
	
  
Minneapolis, MN 55479-0113
  





	
  
Attn:
  	
  
Corporate Trust Services - Wachovia Bank Commercial   Mortgage
  
	
  
 
  	
  
Trust, Commercial Mortgage Pass-Through   Certificates, Series 2007-C31
  





	
  
 
  	
  
Re
  	
  
Wachovia Bank Commercial Mortgage Trust,
  
	
  
 
  	
  
 
  	
  
Commercial Mortgage Pass-Through Certificates,
  
	
   
  	
  
 
  	
  
Series 2007-C31 (the “Certificates”)
  




Ladies and Gentlemen:


                                This letter is delivered to you in connection with the transfer by ____________________ (the “Transferor”) to _______________________ (the “Transferee”) of a Certificate (the “Transferred Certificate”) having an initial [principal balance] [notional amount] as of May 23, 2007 (the “Closing Date”) of $_____________ evidencing a __% interest in the Class to which it belongs.  The Certificates were issued pursuant to the pooling and servicing agreement (the “Pooling and Servicing Agreement”), dated as of May 1, 2007, among Wachovia Commercial Mortgage Securities, Inc., as Depositor, Wachovia Bank, National Association, as Master Servicer, LNR Partners, Inc., as Special Servicer, and Wells
Fargo Bank, N.A., as Trustee.  All terms used herein and not otherwise defined shall have the meanings set forth in the Pooling and Servicing Agreement.  The Transferor hereby certifies, represents and warrants to you, as Certificate Registrar, that:

	
  
 
  	
  
           1.          The   Transferor is the lawful owner of the Transferred Certificate with the full   right to transfer such Certificate free from any and all claims and   encumbrances whatsoever.
  
	
   
  	
  
 
  
	
  
 
  	
  
           2.          Neither   the Transferor nor anyone acting on its behalf has (a) offered, transferred,   pledged, sold or otherwise disposed of any Certificate, any interest in any   Certificate or any other similar security to any person in any manner, (b)   solicited any offer to buy or accepted a transfer, pledge or other   disposition of any Certificate, any interest in any Certificate or any other   similar security from any person in any manner, (c) otherwise approached or   negotiated with respect to any Certificate, any interest in any Certificate   or any other similar security with any person in any manner, (d) made any   general solicitation by means of general advertising or in any other manner,   or (e) taken any other action, which (in the case of any of the acts   described in clauses (a) through (e) hereof) would constitute a distribution

  of any Certificate under the Securities Act of 1933, as amended (the “Securities   Act”), or would render the disposition of any 
  




F-1-1








	
  
 
  	
  
Certificate a violation of Section 5 of the   Securities Act or any state securities laws, or would require registration or   qualification of any Certificate pursuant to the Securities Act or any state   securities laws.
  






	
  
 
  	
  
Very truly yours,
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  


  
	
  
 
  	
  
(Transferor)
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
___________________________________
  
	
   
  	
  
Name:
  	
  
___________________________________
  
	
  
 
  	
  
Title:
  	
  
___________________________________
  




F-1-2









EXHIBIT F-2


FORM OF TRANSFEREE CERTIFICATE
 FOR QIBs


[Date]

	
  
Wells Fargo Bank, N.A.
  
	
  
Wells Fargo Center
  
	
  
Sixth Street and Marquette Avenue
  
	
  
Minneapolis, MN 55479-0113
  





	
  
Attn:
  	
  
Corporate Trust Services - Wachovia Bank Commercial   Mortgage
  
	
   
  	
  
Trust, Commercial Mortgage Pass-Through   Certificates, Series 2007-C31
  





	
  
 
  	
  
Re
  	
  
Wachovia Bank Commercial Mortgage Trust,
  
	
  
 
  	
  
 
  	
  
Commercial Mortgage Pass-Through Certificates,
  
	
  
 
  	
  
 
  	
  
Series 2007-C31 (the “Certificates”)
  




Ladies and Gentlemen:


                                This letter is delivered to you in connection with the transfer by ____________________ (the “Transferor”) to _______________________ (the “Transferee”) of a Certificate (the “Transferred Certificate”) having an initial [principal balance] [notional amount] as of May 23, 2007 (the “Closing Date”) of $_____________ evidencing a __% interest in the Class to which it belongs.  The Certificates were issued pursuant to the pooling and servicing agreement(the “Pooling and Servicing Agreement”), dated as of May 1, 2007, among Wachovia Commercial Mortgage Securities, Inc., as Depositor, Wachovia Bank, National Association, as Master Servicer, LNR Partners, Inc., as Special Servicer, and Wells
Fargo Bank, N.A., as Trustee.  All terms used herein and not otherwise defined shall have the meanings set forth in the Pooling and Servicing Agreement.  The Transferee hereby certifies, represents and warrants to you, as Certificate Registrar, that:


	
  
 
  	
  
           1.          The   Transferee is a “qualified institutional buyer” as that term is defined in   Rule 144A (“Rule 144A”) under the Securities Act of 1933, as amended   (the “Securities Act”) and has completed one of the forms of   certification to that effect attached hereto as Annex 1 and Annex 2.  The Transferee is aware that the sale to   it is being made in reliance on Rule 144A.    The Transferee is acquiring the Transferred Certificate for its own   account or for the account of a qualified institutional buyer, and   understands that such Certificate may be resold, pledged or transferred only   (i) to a person reasonably believed to be a qualified institutional buyer   that purchases for its own account or for the account of a qualified   institutional buyer to whom notice is given that the
resale, pledge or   transfer is being made in reliance on Rule 144A, or (ii) pursuant to another   exemption from registration under the Securities Act.
  
	
  
 
  	
  
 
  
	
  
 
  	
  
           2.          In   the case of a Class IO, Class G, Class H, Class J or Class K   Certificate, the Transferee either (A) is not an “employee benefit plan”   subject to Title I of ERISA or 
  




F-2-1









	
  
 
  	
  
a “plan” described by Section 4975(e)(1) of the Code   or any other retirement plan or other employee benefit plan or arrangement   subject to any federal, state or local law materially similar to the   foregoing provisions of ERISA and the Code, or any entity deemed to hold plan   assets of the foregoing by reason of a plan’s investment in such entity   (each, a “Plan”) or (B) (1) qualifies as an accredited investor as   defined in Rule 501(a)(1) of Regulation D under the Securities Act and   satisfies all the requirements of the Exemptions as in effect at the time of   such transfer or (2) is an insurance company general account that is eligible   for, and satisfies all of the requirements of, Sections I and III of   Department of Labor Prohibited Transaction Class Exemption 95-60 (“PTE   95-60”).
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          In   the case of a Class L, Class M, Class N, Class O, Class P, Class Q, Class   S, Class T or Class U Certificate, the Transferee either (A) is not an   “employee benefit plan” subject to Title I of ERISA or a “plan” described by   Section 4975(e)(1) of the Code or any other retirement plan or other employee   benefit plan or arrangement subject to any federal, state or local law   materially similar to the foregoing provisions of ERISA and the Code, or any   entity deemed to hold plan assets of the foregoing by reason of a plan’s   investment in such entity (each, a “Plan”) or (B) is an insurance   company general account which is eligible for, and satisfies all of the   requirements for, exemptive relief under Sections I and III of Department of   Labor Prohibited Transaction Class Exemption 95-60 (“PTE 95-60”).
  
	
   
  	
  
 
  
	
  
 
  	
  
          In   the case of a Class R-I, Class R-II and Class Z Certificate, the Transferee   is not an “employee benefit plan” subject to Title I of ERISA or a “plan”   subject to Section 4975 of the Code or any other retirement plan or other   employee benefit plan or arrangement subject to any federal, state, local,   non-U.S. or other law substantively similar to the foregoing provisions of   ERISA or the Code, or any Person directly or indirectly acquiring such   Certificate for, on behalf of or with any assets of any such plan (each, a “Plan”).
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          3.          The   Transferee has been furnished with all information regarding (a) the   Certificates and distributions thereon, (b) the nature, performance and   servicing of the Mortgage Loans, (c) the Pooling and Servicing Agreement, and   (d) any credit enhancement mechanism associated with the Certificates, that   it has requested.
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          4.          The   Transferee understands that it may not sell or otherwise transfer any portion   of its interest in the Transferred Certificate except in compliance with the   provisions of Section 5.02 of the Pooling and Servicing Agreement, which   provisions it has carefully reviewed, and that the Transferred Certificate   will bear legends substantially to the following effect (provided that the Class   IO, Class G, Class H, Class J and Class K Certificates will bear a legend   substantially to the effect of the following first paragraph only):
  
	
   
  	
  
 
  
	
  
 
  	
  
THE CERTIFICATE HAS NOT BEEN AND WILL NOT BE   REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES   ACT”), OR THE SECURITIES LAWS OF ANY STATE. ANY RESALE, TRANSFER OR OTHER   DISPOSITION OF THIS CERTIFICATE 
  




F-2-2








	
  
 
  	
  
WITHOUT SUCH REGISTRATION OR QUALIFICATION MAY BE   MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH REGISTRATION OR   QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION 5.02 OF THE   POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.
  
	
  
 
  	
  
 
  
	
  
 
  	
  
NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST   THEREIN SHALL BE MADE TO ANY “EMPLOYEE BENEFIT PLAN” SUBJECT TO ERISA   OR A “PLAN” DESCRIBED BY SECTION 4975(e)(1) OF THE CODE OR ANY OTHER   RETIREMENT PLAN OR OTHER EMPLOYEE BENEFIT PLAN OR ARRANGEMENT SUBJECT TO ANY   FEDERAL, STATE OR LOCAL LAW MATERIALLY SIMILAR TO THE FOREGOING PROVISIONS OF   ERISA AND THE CODE, OR ANY ENTITY DEEMED TO HOLD PLAN ASSETS OF THE FOREGOING   BY REASON OF A PLAN’S INVESTMENT IN SUCH ENTITY (EACH, A “PLAN”) UNLESS IT IS   AN INSURANCE COMPANY GENERAL ACCOUNT WHICH IS ELIGIBLE FOR, AND SATISFIES ALL   OF THE REQUIREMENTS FOR, EXEMPTIVE RELIEF UNDER SECTIONS I AND III OF   DEPARTMENT OF LABOR PROHIBITED TRANSACTION CLASS EXEMPTION 95-60 (“PTE   95-60”). EACH PERSON WHO ACQUIRES THIS CERTIFICATE SHALL BE DEEMED TO   HAVE CERTIFIED THAT THE FOREGOING CONDITIONS ARE SATISFIED, AND THAT IT WILL   NOT TRANSFER THIS CERTIFICATE
IN VIOLATION OF THE FOREGOING.
  
	
   
  	
  
 
  
	
  
 
  	
  
[In the case of Class R-I, Class R-II or Class Z   Certificates]: NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST THEREIN SHALL   BE MADE TO ANY “EMPLOYEE BENEFIT PLAN” SUBJECT TO ERISA OR A “PLAN” DESCRIBED   BY SECTION 4975(e)(1) OF THE CODE, OR ANY OTHER RETIREMENT PLAN OR OTHER   EMPLOYEE BENEFIT PLAN OR ARRANGEMENT SUBJECT TO ANY FEDERAL, STATE OR LOCAL   LAW MATERIALLY SIMILAR TO THE FOREGOING PROVISIONS OF ERISA AND THE CODE, OR   ANY ENTITY DEEMED TO HOLD PLAN ASSETS OF THE FOREGOING BY REASON OF A PLAN’S   INVESTMENT IN SUCH ENTITY (EACH, A “PLAN”).    EACH PERSON WHO ACQUIRES THIS CERTIFICATE SHALL BE DEEMED TO HAVE   CERTIFIED THAT THE FOREGOING CONDITIONS ARE SATISFIED, AND THAT IT WILL NOT   TRANSFER THIS CERTIFICATE IN VIOLATION OF THE FOREGOING.
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          5.          Neither   the Transferee nor anyone acting on its behalf has (a) offered, pledged,   sold, disposed of or otherwise transferred any Certificate, any interest in   any Certificate or any other similar security to any person in any manner,   (b) solicited any offer to buy or accept a pledge, disposition or other   transfer of any Certificate, any interest in any Certificate or any other   similar security from any person in any manner, (c) otherwise approached or negotiated   with respect to any Certificate, any interest in any Certificate or any other   similar security with any person in any manner, (d) made any general   solicitation by means of general advertising or in any other manner, or (e)   taken any other action, that (in the case of any of the acts described in   clauses (a) through (e) above) would constitute a distribution of any
Certificate under the Securities Act, would render the disposition of any   Certificate a violation of Section 5 of the Securities Act or 
  



F-2-3








	
  
 
  	
  
any state securities law or would require   registration or qualification of any Certificate pursuant thereto.  The Transferee will not act, nor has it   authorized or will it authorize any person to act, in any manner set forth in   the foregoing sentence with respect to any Certificate.
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          6.          Check   one of the following:
  





	
  
o
  	
  
The Transferee is a U.S. Person (as defined below)   and it has attached hereto an Internal Revenue Service (“IRS”) Form W-9 (or   successor form).
  
	
  
 
  	
  
 
  
	
  o
  	
  
The Transferee is not a U.S. Person and under   applicable law in effect on the date hereof, no taxes will be required to be   withheld by the Trustee (or its agent) with respect to distributions to be   made on the Transferred Certificate.    The Transferee has attached hereto [(i) a duly executed IRS Form   W-8BEN (or successor form), which identifies such Transferee as the   beneficial owner of the Transferred Certificate and states that such   Transferee is not a U.S. Person, (ii) two duly executed copies of IRS Form   W-8IMY (with all the appropriate attachments), or (iii)]  two duly executed copies of IRS Form   W-8ECI (or successor form), which identify such Transferee as the beneficial   owner of the Transferred Certificate and state that interest and original   issue discount on the Transferred Certificate and Permitted Investments is,   or is expected to be, effectively connected with a U.S. trade or   business.  The Transferee agrees to

provide to the Certificate Registrar updated [IRS Form W-8BEN, IRS Form   W-8IMY or]* IRS Form W-8ECI, as the case may be, any applicable successor IRS   forms, or such other certifications as the Certificate Registrar may   reasonably request, on or before the date that any such IRS form or   certification expires or becomes obsolete, or promptly after the occurrence   of any event requiring a change in the most recent IRS form of certification   furnished by it to the Certificate Registrar.
  




For this purpose, “U.S. Person” means a citizen or resident of the United States, a corporation or partnership (including an entity treated as a corporation or partnership for federal income tax purposes) created or organized in, or under the laws of, the United States, any State thereof or the District of Columbia unless in the case of a partnership, Treasury Regulations are adopted that provide otherwise, an estate whose income is includable in gross income for United States federal income tax purposes regardless of its source or a trust if a court within the United States is able to exercise primary supervision over the administration of the trust, and one or more United States Persons have the authority to control all substantial decisions of the trust, all within the meaning of Section 7701(a)(30) of the Code.


	
  
 
  	
  
Very truly yours,
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  


  
	
  
 
  	
  
(Transferee)
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
___________________________________
  
	
   
  	
  
Name:
  	
  
___________________________________
  
	
  
 
  	
  
Title:
  	
  
___________________________________
  




F-2-4









ANNEX 1 TO EXHIBIT F-2


QUALIFIED INSTITUTIONAL BUYER STATUS UNDER SEC RULE 144A


[For Transferees Other Than Registered Investment Companies]


                    The undersigned hereby certifies as follows to [name of Transferor] (the “Transferor”) and Wells Fargo Bank, N.A., as Certificate Registrar, with respect to the mortgage pass-through certificate being transferred (the “Transferred Certificate”) as described in the Transferee Certificate to which this certification relates and to which this certification is an Annex:

	
  
 
  	
  
         1.          As   indicated below, the undersigned is the chief financial officer, a person   fulfilling an equivalent function, or other executive officer of the entity   purchasing the Transferred Certificate (the “Transferee”).
  
	
   
  	
  
 
  
	
  
 
  	
  
         2.          The   Transferee is a “qualified institutional buyer” as that term is defined in   Rule 144A under the Securities Act of 1933, as amended (“Rule 144A”)   because (i) the Transferee owned and/or invested on a discretionary basis   $____________ / _____________ in securities (other than the excluded   securities referred to below) as of the end of the Transferee’s most recent   fiscal year (such amount being calculated in accordance with Rule 144A)   [Transferee must own and/or invest on a discretionary basis at least   $100,000,000 in securities unless Transferee is a dealer, and, in that case,   Transferee must own and/or invest on, a discretionary basis at least   $10,000,000 in securities.] and (ii) the Transferee satisfies the criteria in   the category marked below.
  





	
  
 
  	
  
o
  	
  
Corporation, etc.    The Transferee is a corporation (other than a bank, savings and loan   association or similar institution), business trust, partnership, or any   organization described in Section 501(c)(3) of the Internal Revenue Code of   1986, as amended.
  
	
  
 
  	
  
 
  	
  
 
  
	
   
  	
  
o
  	
  
Bank.  The   Transferee (a) is a national bank or a banking institution organized under   the laws of any State, U.S. territory or the District of Columbia, the   business of which is substantially confined to banking and is supervised by   the State or territorial banking commission or similar official or is a   foreign bank or equivalent institution, and (b) has an audited net worth of   at least $25,000,000 as demonstrated in its latest annual financial   statements, a copy of which is attached hereto, as of a date not more than 16   months preceding the date of sale of the Certificate in the case of a U.S.   bank, and not more than 18 months preceding such date of sale for a foreign   bank or equivalent institution.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
o
  	
  
Savings and Loan.    The Transferee (a) is a savings and loan association, building and   loan association, cooperative bank, homestead association or similar   institution, which is supervised and examined by a State or Federal authority   having supervision over any such institutions or is a foreign savings and   loan association or equivalent institution and (b) has an audited net worth   of at least $25,000,000 as demonstrated in its latest annual financial   statements, a copy of 
  




F-2-5








	
   
  	
  
 
  	
  
which is attached hereto, as of a date not more than   16 months preceding the date of sale of the Certificate in the case of a U.S.   savings and loan association, and not more than 18 months preceding such date   of sale for a foreign savings and loan association or equivalent institution.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
o
  	
  
Broker-dealer.    The Transferee is a dealer registered pursuant to Section 15 of the   Securities Exchange Act of 1934.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
o
  	
  
Insurance Company.    The Transferee is an insurance company whose primary and predominant   business activity is the writing of insurance or the reinsuring of risks   underwritten by insurance companies and which is subject to supervision by   the insurance commissioner or a similar official or agency of a State, U.S.   territory or the District of Columbia.
  
	
  
 
  	
  
 
  	
  
 
  
	
   
  	
  
o
  	
  
State or Local Plan.  The Transferee is a plan established and maintained by a State,   its political subdivisions, or any agency or instrumentality of the State or   its political subdivisions, for the benefit of its employees.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
o
  	
  
ERISA Plan.    The Transferee is an employee benefit plan within the meaning of Title   I of the Employee Retirement Income Security Act of 1974, as amended.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
o
  	
  
Investment Advisor.    The Transferee is an investment advisor registered under the   Investment Advisers Act of 1940.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
o
  	
  
Other.    (Please supply a brief description of the entity and a cross-reference   to the paragraph and subparagraph under subsection (a)(1) of Rule 144A   pursuant to which it qualifies.  Note   that registered investment companies should complete Annex 2 rather than this   Annex 1.)
  





	
  
 
  	
  
           3.          The   term “securities” as used herein does not include (i) securities of issuers   that are affiliated with the Transferee, (ii) securities that are part of an   unsold allotment to or subscription by the Transferee, if the Transferee is a   dealer, (iii) bank deposit notes and certificates of deposit, (iv) loan   participations, (v) repurchase agreements, (vi) securities owned but subject   to a repurchase agreement and (vii) currency, interest rate and commodity   swaps.  For purposes of determining   the aggregate amount of securities owned and/or invested on a discretionary   basis by the Transferee, the Transferee did not include any of the securities   referred to in this paragraph.
  
	
  
 
  	
  
 
  
	
  
 
  	
  
           4.          For   purposes of determining the aggregate amount of securities owned and/or   invested on a discretionary basis by the Transferee, the Transferee used the   cost of such securities to the Transferee, unless the Transferee reports its   securities holdings in its financial statements on the basis of their market   value, and no current information with respect to the cost of those   securities has been published, in which case the securities were valued at   market.  Further, in determining such   aggregate amount, the Transferee may have included securities owned by   subsidiaries of the Transferee, but only if such subsidiaries are   consolidated with the Transferee in its financial statements prepared in   accordance with generally accepted accounting principles and if the   investments of such subsidiaries are managed under the
Transferee’s   direction.  However, such securities 
  



F-2-6








	
  
 
  	
  
were not included if the Transferee is a   majority-owned, consolidated subsidiary of another enterprise and the Transferee   is not itself a reporting company under the Securities Exchange Act of 1934,   as amended.
  
	
  
 
  	
  
 
  
	
  
 
  	
  
           5.          The   Transferee acknowledges that it is familiar with Rule 144A and understands   that the parties to which this certification is being made are relying and   will continue to rely on the statements made herein because one or more sales   to the Transferee may be in reliance on Rule 144A.
  





	
   
 	
  
________
  	
  
________
  	
  
Will the Transferee be purchasing the Transferred   Certificate only for the Transferee’s own account?
  
	
   
 	
  Yes
  	
  
No
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  





	
  
 
  	
  
           6.          If   the answer to the foregoing question is “no”, then in each case where the   Transferee is purchasing for an account other than its own, such account   belongs to a third party that is itself a “qualified institutional buyer”   within the meaning of Rule 144A, and the “qualified institutional buyer”   status of such third party has been established by the Transferee through one   or more of the appropriate methods contemplated by Rule 144A.
  
	
  
 
  	
  
 
  
	
  
 
  	
  
           7.          The   Transferee will notify each of the parties to which this certification is   made of any changes in the information and conclusions herein.  Until such notice is given, the   Transferee’s purchase of the Transferred Certificate will constitute a   reaffirmation of this certification as of the date of such purchase.  In addition, if the Transferee is a bank   or savings and loan as provided above, the Transferee agrees that it will   furnish to such parties any updated annual financial statements that become   available on or before the date of such purchase, promptly after they become   available.
  





	
  
 
  	
  
Print Name of Transferee
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
___________________________________________
  
	
  
 
  	
  
Name:
  	
  
___________________________________________
  
	
  
 
  	
  
Title:
  	
  
___________________________________________
  
	
   
  	
  
Date:
  	
  
___________________________________________
  




F-2-7









ANNEX 2 TO EXHIBIT F-2


QUALIFIED INSTITUTIONAL BUYER STATUS UNDER SEC RULE 144A


[For Transferees That Are Registered Investment Companies]


                    The undersigned hereby certifies as follows to [name of Transferor] (the “Transferor”) and Wells Fargo Bank, N.A., as Certificate Registrar, with respect to the mortgage pass-through certificate being transferred (the “Transferred Certificate”) as described in the Transferee Certificate to which this certification relates and to which this certification is an Annex:

	
  
 
  	
  
          1.          As   indicated below, the undersigned is the chief financial officer, a person   fulfilling an equivalent function, or other executive officer of the entity   purchasing the Transferred Certificate (the “Transferee”) or, if the   Transferee is a “qualified institutional buyer” as that term is defined in   Rule 144A under the Securities Act of 1933, as amended (“Rule 144A”),   because the Transferee is part of a Family of Investment Companies (as   defined below), is an executive officer of the investment adviser (the “Adviser”).
  
	
   
  	
  
 
  
	
  
 
  	
  
          2.          The   Transferee is a “qualified institutional buyer” as defined in Rule 144A   because (i) the Transferee is an investment company registered under the   Investment Company Act of 1940, and (ii) as marked below, the Transferee   alone owned and/or invested on a discretionary basis, or the Transferee’s   Family of Investment Companies owned, at least $100,000,000 in securities   (other than the excluded securities referred to below) as of the end of the   Transferee’s most recent fiscal year.    For purposes of determining the amount of securities owned by the Transferee   or the Transferee’s Family of Investment Companies, the cost of such   securities was used, unless the Transferee or any member of the Transferee’s   Family of Investment Companies, as the case may be, reports its securities   holdings in
its financial statements on the basis of their market value, and   no current information with respect to the cost of those securities has been   published, in which case the securities of such entity were valued at market.
  





	
  
 
  	
  
o
  	
  
The Transferee owned and/or invested on a   discretionary basis $___________ in securities (other than the excluded   securities referred to below) as of the end of the Transferee’s most recent   fiscal year (such amount being calculated in accordance with Rule 144A).
  
	
   
  	
  
 
  	
  
 
  
	
  
 
  	
  
o
  	
  
The Transferee is part of a Family of Investment   Companies which owned in the aggregate $___________ in securities (other than   the excluded securities referred to below) as of the end of the Transferee’s   most recent fiscal year (such amount being calculated in accordance with Rule   144A).
  




                      In the case of a Class R-I, Class R-II or Class Z Certificate, the Transferee is not an “employee benefit plan” subject to Title I of ERISA or a “plan” described by Section 4975(e)(1) of the Code or any other retirement plan or other employee benefit plan or arrangement subject to any federal, state or local law materially similar to the foregoing 


F-2-8









provisions of ERISA and the Code, or any entity deemed to hold plan assets of the foregoing by reason of a plan’s investment in such entity (each, a “Plan”).

	
  
 
  	
  
          3.          The   term “Family of Investment Companies” as used herein means two or more   registered investment companies (or series thereof) that have the same   investment adviser or investment advisers that are affiliated (by virtue of   being majority owned subsidiaries of the same parent or because one   investment adviser is a majority owned subsidiary of the other).
  
	
   
  	
  
 
  
	
  
 
  	
  
          4.          The   term “securities” as used herein does not include (i) securities of issuers   that are affiliated with the Transferee or are part of the Transferee’s   Family of Investment Companies, (ii) bank deposit notes and certificates of   deposit, (iii) loan participations, (iv) repurchase agreements, (v) securities   owned but subject to a repurchase agreement and (vi) currency, interest rate   and commodity swaps.  For purposes of   determining the aggregate amount of securities owned and/or invested on a   discretionary basis by the Transferee, or owned by the Transferee’s Family of   Investment Companies, the securities referred to in this paragraph were   excluded.
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          5.          The   Transferee is familiar with Rule 144A and understands that the parties to   which this certification is being made are relying and will continue to rely   on the statements made herein because one or more sales to the Transferee   will be in reliance on Rule 144A.
  





	
   
  	
  
________
  	
  
________
  	
  
Will the Transferee be purchasing the Transferred   Certificate only for the Transferee’s own account?
  
	
  
 
  	
  
Yes
  	
  
No
  




 

	
  
 
  	
  


          6.          If
the answer to the foregoing question is “no”, then in each case where
the Transferee is purchasing for an account other than its own, such account
belongs to a third party that is itself a “qualified institutional
buyer” within the meaning of Rule 144A, and the “qualified
institutional buyer” status of such third party has been established by the
Transferee through one or more of the appropriate methods contemplated by Rule
144A.
 
 
	
  
 
  	
  
          7.          The   undersigned will notify the parties to which this certification is made of   any changes in the information and conclusions herein.  Until such notice, the Transferee’s   purchase of the Transferred Certificate will constitute a reaffirmation of this   certification by the undersigned as of the date of such purchase.
  



 

	
  
 
  	
  
Print Name of Transferee or Adviser
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
___________________________________
  
	
  
 
  	
  
Name:
  	
  
___________________________________
  
	
  
 
  	
  
Title:
  	
  
___________________________________
  




F-2-9









EXHIBIT F-3


FORM OF TRANSFEREE CERTIFICATE
 FOR NON-QIBs


[Date]

	
  
Wells Fargo Bank, N.A.
  
	
  
Wells Fargo Center
  
	
  
Sixth Street and Marquette Avenue
  
	
  
Minneapolis, MN 55479-0113
  





	
  
Attn:
  	
  
Corporate Trust Services - Wachovia Bank Commercial   Mortgage
  
	
  
 
  	
  
Trust, Commercial Mortgage Pass-Through   Certificates, Series 2007-C31
  





	
   
  	
  
Re
  	
  
Wachovia Bank Commercial Mortgage Trust,
  
	
  
 
  	
  
 
  	
  
Commercial Mortgage Pass-Through Certificates,   Series 2007-C31 (the “Certificates”)
  




Ladies and Gentlemen:


                                This letter is delivered to you in connection with the transfer by ____________________ (the “Transferor”) to _______________________ (the “Transferee”) of a Certificate (the “Transferred Certificate”) having an initial [principal balance] [notional amount] as of May 23, 2007 (the “Closing Date”) of $_____________ evidencing a __% interest in the Class to which it belongs.  The Certificates were issued pursuant to the pooling and servicing agreement(the “Pooling and Servicing Agreement”), dated as of May 1, 2007, among Wachovia Commercial Mortgage Securities, Inc., as Depositor, Wachovia Bank, National Association, as Master Servicer, LNR Partners, Inc., as Special Servicer, and Wells
Fargo Bank, N.A., as Trustee.  All terms used herein and not otherwise defined shall have the meanings set forth in the Pooling and Servicing Agreement.  The Transferee hereby certifies, represents and warrants to you, as Certificate Registrar, that:

	
  
 
  	
  
          1.          The   Transferee is acquiring the Transferred Certificate for its own account for   investment and not with a view to or for sale or transfer in connection with   any distribution thereof, in whole or in part, in any manner which would   violate the Securities Act of 1933, as amended (the “Securities Act”),   or any applicable state securities laws.
  
	
   
  	
  
 
  
	
  
 
  	
  
          2.          The   Transferee understands that (a) the Certificates have not been and will not   be registered under the Securities Act or registered or qualified under any   applicable state securities laws, (b) neither the Depositor nor the Trustee   or the Certificate Registrar is obligated so to register or qualify the   Certificates and (c) the Certificates may not be resold or transferred unless   they are (i) registered pursuant to the Securities Act and registered or   qualified pursuant to any applicable state securities laws or (ii) sold or   transferred in transactions which are exempt from such registration and   qualification and the Certificate Registrar has received either (A)   certifications from both the transferor and the transferee (substantially in   the forms attached to the Pooling and Servicing Agreement) setting forth the   facts
surrounding the transfer or (B) an opinion of counsel 
  




F-3-1








	
  
 
  	
  
satisfactory to the Certificate Registrar with   respect to the availability of such exemption (which Opinion of Counsel shall   not be an expense of the Trust Fund or of the Depositor, the Master Servicer,   the Special Servicer, the Trustee or the Certificate Registrar in their   respective capacities as such), together with copies of the certification(s)   from the Transferor and/or Transferee setting forth the facts surrounding the   transfer upon which such opinion is based.    Any holder of a Certificate desiring to effect such a transfer shall,   and upon acquisition of such Certificate shall be deemed to have agreed to,   indemnify the Master Servicer, the Special Servicer, Trustee, the Certificate   Registrar and the Depositor against any liability that may result if the   transfer is not so exempt or is not made in accordance with such federal and   state laws.
  
	
   
  	
  
 
  
	
  
 
  	
  
          3.          The   Transferee understands that it may not sell or otherwise transfer any portion   of its interest in the Transferred Certificate except in compliance with the   provisions of Section 5.02 of the Pooling and Servicing Agreement, which   provisions it has carefully reviewed, and that the Transferred Certificate   will bear legends substantially to the following effect (provided that the Class   IO, Class G, Class H, Class J and Class K Certificates will bear a legend   substantially to the effect of the following first paragraph only):
  
	
  
 
  	
  
 
  
	
  
 
  	
  
THE CERTIFICATE HAS NOT BEEN AND WILL NOT BE   REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES   ACT”), OR THE SECURITIES LAWS OF ANY STATE. ANY RESALE, TRANSFER OR OTHER   DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR QUALIFICATION   MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH REGISTRATION OR   QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION 5.02 OF THE   POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.
  
	
  
 
  	
  
 
  
	
  
 
  	
  
NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST   THEREIN SHALL BE MADE TO ANY “EMPLOYEE BENEFIT PLAN” SUBJECT TO TITLE   I OF ERISA OR A “PLAN” DESCRIBED BY SECTION 4975(e)(1) OF THE CODE OR ANY   OTHER RETIREMENT PLAN OR OTHER EMPLOYEE BENEFIT PLAN OR ARRANGEMENT SUBJECT   TO ANY FEDERAL, STATE OR LOCAL LAW MATERIALLY SIMILAR TO THE FOREGOING   PROVISIONS OF ERISA AND THE CODE, OR ANY ENTITY DEEMED TO HOLD PLAN ASSETS OF   THE FOREGOING BY REASON OF A PLAN’S INVESTMENT IN SUCH ENTITY (EACH, A “PLAN”)   UNLESS IT IS AN INSURANCE COMPANY GENERAL ACCOUNT WHICH IS ELIGIBLE FOR, AND   SATISFIES ALL OF THE REQUIREMENTS FOR, EXEMPTIVE RELIEF UNDER SECTIONS I AND   III OF DEPARTMENT OF LABOR PROHIBITED TRANSACTION CLASS EXEMPTION 95-60 (“PTE   95-60”).  EACH PERSON WHO ACQUIRES   THIS CERTIFICATE SHALL BE DEEMED TO HAVE CERTIFIED THAT THE FOREGOING   CONDITIONS ARE SATISFIED, AND THAT IT WILL NOT
TRANSFER THIS CERTIFICATE IN   VIOLATION OF THE FOREGOING.
  
	
   
  	
  
 
  
	
  
 
  	
  
[In the case of Class R-I, Class R-II and Class Z   Certificates]: NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST THEREIN SHALL   BE MADE TO ANY 
  




F-3-2








	
  
 
  	
  
“EMPLOYEE BENEFIT PLAN” SUBJECT TO ERISA OR A “PLAN”   DESCRIBED BY SECTION 4975(e)(1) OF THE CODE, OR ANY OTHER RETIREMENT PLAN OR   OTHER EMPLOYEE BENEFIT PLAN OR ARRANGEMENT SUBJECT TO ANY FEDERAL, STATE OR   LOCAL LAW MATERIALLY SIMILAR TO THE FOREGOING PROVISIONS OF ERISA AND THE   CODE, OR ANY ENTITY DEEMED TO HOLD PLAN ASSETS OF THE FOREGOING BY REASON OF   A PLAN’S INVESTMENT IN SUCH ENTITY (EACH, A “PLAN”).  EACH PERSON WHO ACQUIRES THIS CERTIFICATE   SHALL BE DEEMED TO HAVE CERTIFIED THAT THE FOREGOING CONDITIONS ARE   SATISFIED, AND THAT IT WILL NOT TRANSFER THIS CERTIFICATE IN VIOLATION OF THE   FOREGOING.
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          4.          Neither   the Transferee nor anyone acting on its behalf has (a) offered, pledged,   sold, disposed of or otherwise transferred any Certificate, any interest in   any Certificate or any other similar security to any person in any manner,   (b) solicited any offer to buy or accept a pledge, disposition or other   transfer of any Certificate, any interest in any Certificate or any other   similar security from any person in any manner, (c) otherwise approached or   negotiated with respect to any Certificate, any interest in any Certificate   or any other similar security with any person in any manner, (d) made any   general solicitation by means of general advertising or in any other manner,   or (e) taken any other action, that (in the case of any of the acts described   in clauses (a) through (e) above) would constitute a distribution of any
Certificate under the Securities Act, would render the disposition of any   Certificate a violation of Section 5 of the Securities Act or any state   securities law or would require registration or qualification of any   Certificate pursuant thereto.  The   Transferee will not act, nor has it authorized or will it authorize any   person to act, in any manner set forth in the foregoing sentence with respect   to any Certificate.
  
	
   
  	
  
 
  
	
  
 
  	
  
          5.          The   Transferee has been furnished with all information regarding (a) the   Depositor, (b) the Certificates and distributions thereon, (c) the Pooling   and Servicing Agreement, and (d) all related matters, that it has requested.
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          6.          The   Transferee has been furnished a copy of the private placement memorandum (the   “Private Placement Memorandum”), dated May 11, 2007  and has read such Private Placement   Memorandum.
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          7.          The   Transferee is an “accredited investor” as defined in Rule 501(a)(1), (2), (3)   or (7) under the Securities Act and has such knowledge and experience in   financial and business matters as to be capable of evaluating the merits and   risks of an investment in the Certificates; the Transferee has sought such   accounting, legal and tax advice as it has considered necessary to make an   informed investment decision; and the Transferee is able to bear the economic   risks of such an investment and can afford a complete loss of such investment.
  
	
   
  	
  
 
  
	
  
 
  	
  
          8.          In   the case of the Class IO, Class G, Class H, Class J or Class K   Certificates, the Transferee either (A) is not an “employee benefit plan”   subject to Title I of ERISA or a “plan” described by Section 4975(e)(1) of the   Code or any other 
  




F-3-3








	
  
 
  	
  
retirement plan or other employee benefit plan or   arrangement subject to any federal, state or local law materially similar to   the foregoing provisions of ERISA and the Code, or any entity deemed to hold   plan assets of the foregoing by reason of a plan’s investment in such entity   (each, a “Plan”) or (B) (1) qualifies as an accredited investor as   defined in Rule 501(a)(1) of Regulation D under the Securities Act and   satisfies all the requirements of the Exemptions as in effect at the time of   such transfer or (2) is an insurance company general account that is eligible   for, and satisfies all of the requirements for, Sections I and III of   Department of Labor Prohibited Transaction Class Exemption 95-60 (“PTE   95-60”).
  
	
  
 
  	
  
 
  
	
   
  	
  
          9.          In   the case of Class L, Class M, Class N, Class O, Class P, Class Q, Class S,   Class T or Class U Certificates, the Transferee either (A) is not an   “employee benefit plan” subject to Title I of ERISA or a “plan” described by   Section 4975(e)(1) of the Code, or any other retirement plan or other   employee benefit plan or arrangement subject to any federal, state or local   law materially similar to the foregoing provisions of ERISA and the Code, or   any entity deemed to hold plan assets of the foregoing by reason of a plan’s   investment in such entity (each, a “Plan”) or (B) is an insurance   company general account which is eligible for, and satisfies all of the   requirements for, exemptive relief under Sections I and III of Department of   Labor Prohibited Transaction Class Exemption
(“PTE 95-60”).
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          In   the case of a Class R-I, Class R-II, and Class Z Certificate, the Transferee   is not an “employee benefit plan” subject to Title I of ERISA or a “plan”   subject to Section 4975 of the Code or any other retirement plan or other   employee benefit plan or arrangement subject to any federal, state, local,   non U.S. or other law substantively similar to the foregoing provisions of   ERISA or the Code, or any Person directly or indirectly acquiring such   Certificate for, on behalf of or with any assets of any such plan (each a “Plan”).
  
	
  
 
  	
  
 
  
	
   
  	
  
          10.         Check   one of the following:
  





	
  
 
  	
  
o
  	
  
The Transferee is a U.S. Person (as defined below)   and it has attached hereto an Internal Revenue Service (“IRS”) Form   W-9 (or successor form).
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
o
  	
  
1The Transferee is not a U.S.
Person and under applicable law in effect on the date hereof, no taxes will be
required to be withheld by the Trustee (or its agent) with respect to
distributions to be made on the Transferred Certificate.  The Transferee
has attached hereto [(i) a duly executed IRS Form W-8BEN (or successor form),
which identifies such Transferee as the beneficial owner of the Transferred
Certificate and states that such Transferee is not a U.S. Person, (ii) two duly
executed copies of IRS Form W-8IMY (with all the appropriate attachments), 
or (iii)] * two duly executed copies of IRS Form W-8ECI (or successor form), which identify such Transferee as the
beneficial owner of the 
 





	
  


  
	
  
1
  	
  
[Does not apply to Class R-I or Class R-II   Certificates.]
  
	
  
*
  	
  
Delete for Class R-I and Class R-II Certificates.
  




F-3-4








	
  
 
  	
  
Transferred Certificate and state that interest and   original issue discount on the Transferred Certificate and Permitted   Investments is, or is expected to be, effectively connected with a U.S. trade   or business.  The Transferee agrees to   provide to the Certificate Registrar updated [IRS Form W-8BEN, IRS Form   W-8IMY or]*   IRS Form W-8ECI, as the case may be, any applicable successor IRS forms, or   such other certifications as the Certificate Registrar may reasonably   request, on or before the date that any such IRS form or certification   expires or becomes obsolete, or promptly after the occurrence of any event   requiring a change in the most recent IRS form of certification furnished by   it to the Certificate Registrar.
  



For this purpose, “U.S. Person” means a citizen or resident of the United States, a corporation or partnership (including an entity treated as a corporation or partnership for federal income tax purposes) created or organized in, or under the laws of, the United States, any State thereof or the District of Columbia unless in the case of a partnership, Treasury Regulations are adopted that provide otherwise, an estate whose income is includable in gross income for United States federal income tax purposes regardless of its source or a trust if a court within the United States is able to exercise primary supervision over the administration of the trust, and one or more United States Persons have the authority to control all substantial decisions of the trust, all within the meaning of Section 7701(a)(30) of the Code.

	
  
 
  	
  
Very truly yours,
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  


  
	
  
 
  	
  
(Transferee)
  
	
   
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
___________________________________
  
	
  
 
  	
  
Name:
  	
  
___________________________________
  
	
  
 
  	
  
Title:
  	
  
___________________________________
  




F-3-5









EXHIBIT F-4


FORM OF TRANSFEREE CERTIFICATE
 FOR REGULATION S TRANSFERS


[Date]

	
  
Wells Fargo Bank, N.A.
  
	
  Wells Fargo Center
  
	
  
Sixth Street and Marquette Avenue
  
	
  
Minneapolis, MN 55479-0113
  





	
  
Attn:
  	
  
Corporate Trust Services - Wachovia Bank Commercial   Mortgage
  
	
  
 
  	
  
Trust, Commercial Mortgage Pass-Through   Certificates, Series 2007-C31
  





	
  
 
  	
  
Re
  	
  
Wachovia Bank Commercial Mortgage Trust,
  
	
  
 
  	
  
 
  	
  
Commercial Mortgage Pass-Through Certificates,
  
	
   
  	
  
 
  	
  
Series 2007-C31 (the “Certificates”)
  




Ladies and Gentlemen:


                                This letter is delivered to you in connection with the transfer by ____________________ (the “Transferor”) to _______________________ (the “Transferee”) of a Certificate (the “Transferred Certificate”) having an initial [principal balance] [notional amount] as of May 23, 2007 (the “Closing Date”) of $_____________ evidencing a __% interest in the Class    Certificates.  The Certificates were issued pursuant to the pooling and servicing agreement (the “Pooling and Servicing Agreement”), dated as of May 1, 2007, among Wachovia Commercial Mortgage Securities, Inc., as Depositor, Wachovia Bank, National Association, as Master Servicer, LNR Partners, Inc., as Special Servicer, and Wells Fargo Bank, N.A.,
as Trustee.  All terms used herein and not otherwise defined shall have the meanings set forth in the Pooling and Servicing Agreement.  The Transferee hereby certifies, represents and warrants to you, as Certificate Registrar, that:

	
  
 
  	
  
          1.          The   Transferee is not acquiring the Transferred Certificate in any manner which   would violate the Securities Act of 1933, as amended (the “Securities Act”),   or any applicable state securities laws.
  
	
   
  	
  
 
  
	
  
 
  	
  
          2.          The   Transferee understands that (a) the Certificates have not been and will not   be registered under the Securities Act or registered or qualified under any   applicable state securities laws, (b) neither the Depositor nor the Trustee   nor the Certificate Registrar is obligated so to register or qualify the   Certificates and (c) the Certificates may not be resold or transferred unless   they are (i) registered pursuant to the Securities Act and registered or   qualified pursuant to any applicable state securities laws or (ii) sold or   transferred in transactions which are exempt from such registration and   qualification and the Certificate Registrar has received either (A)   certifications from both the transferor and the transferee (substantially in   the forms attached to the Pooling and Servicing Agreement) setting forth the   facts
surrounding the transfer or (B) an opinion of counsel satisfactory to   the Certificate Registrar with respect to the availability of such exemption
  




F-4-1








	
  
 
  	
  
(which Opinion of Counsel shall not be an expense of   the Trust Fund or of the Depositor, the Master Servicer, the Special   Servicer, the Trustee, or the Certificate Registrar in their respective   capacities as such), together with copies of the certification(s) from the   Transferor and/or Transferee setting forth the facts surrounding the transfer   upon which such opinion is based.  Any   holder of a Certificate desiring to effect such a transfer shall, and upon   acquisition of such Certificate shall be deemed to have agreed to, indemnify   the Master Servicer, the Special Servicer, the Trustee, the Certificate   Registrar and the Depositor against any liability that may result if the   transfer is not so exempt or is not made in accordance with such federal and   state laws.
  
	
   
  	
  
 
  
	
  
 
  	
  
          3.          The   Transferee understands that it may not sell or otherwise transfer any portion   of its interest in the Transferred Certificate except in compliance with the   provisions of Section 5.02 of the Pooling and Servicing Agreement, which   provisions it has carefully reviewed, and that the Transferred Certificate   will bear a legend substantially to the following effect:
  




THE CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR THE SECURITIES LAWS OF ANY STATE.  ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION 5.02 OF THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.

	
  
 
  	
  
          4.          Neither   the Transferee nor anyone acting on its behalf has (a) offered, pledged,   sold, disposed of or otherwise transferred any Certificate, any interest in   any Certificate or any other similar security to any person in any manner,   (b) solicited any offer to buy or accept a pledge, disposition or other   transfer of any Certificate, any interest in any Certificate or any other   similar security from any person in any manner, (c) otherwise approached or   negotiated with respect to any Certificate, any interest in any Certificate   or any other similar security with any person in any manner, (d) made any   general solicitation by means of general advertising or in any other manner,   or (e) taken any other action, that (in the case of any of the acts described   in clauses (a) through (e) above) would constitute a distribution of any
Certificate under the Securities Act, would render the disposition of any   Certificate a violation of Section 5 of the Securities Act or any state   securities law or would require registration or qualification of any   Certificate pursuant thereto.  The   Transferee will not act, nor has it authorized or will it authorize any   person to act, in any manner set forth in the foregoing sentence with respect   to any Certificate.
  
	
   
  	
  
 
  
	
  
 
  	
  
          5.          The   Transferee has been furnished with all information regarding (a) the   Depositor, (b) the Certificates and distributions thereon, (c) the Pooling   and Servicing Agreement, and (d) all related matters, that it has requested.
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          6.          The   Transferee has been furnished a copy of the Private Placement Memorandum,   dated May 11, 2007 and has read such Private Placement Memorandum.
  






F-4-2










	
  
 
  	
  
          7.          The   offer of the Certificates was not made to a person in the United States.  No directed selling efforts have been made   in  contravention of the requirements   of Rule 903(b) or Rule 904(b) of Regulation S, as applicable.  The transaction is not part of a plan or   scheme to evade the registration requirements of the Securities Act.
  
	
   
  	
  
 
  
	
  
 
  	
  
          8.          Check   one of the following:*
  





	
  
 
  	
  
______  At   the time the buy order was originated, the Transferee was outside the United   States.
  
	
  
 
  	
  
 
  
	
  
 
  	
  
______  The   transaction was executed in, on or through the facilities of a designated   offshore securities market and the Transferee does not know that the   transaction was pre-arranged with a buyer in the United States.
  




                               *          These two provisions come from the definition of “offshore transaction” in Regulation S.

	
   
  	
  
          9.          The   Transferee either (A) is not an “employee benefit plan” subject to ERISA or a   “plan” subject to Section 4975 of the Code or any other retirement plan or   other employee benefit plan or arrangement subject to any federal, state,   local, non-U.S. or other law substantively similar to the foregoing   provisions of ERISA or the Code, or any Person acting directly or indirectly   for, on behalf of, or with any assets of the foregoing by (each, a “Plan”) or   (B) (1) qualifies as an accredited investor as defined in Rule 501(a)(1) of   Regulation D under the Securities Act and satisfies all the requirements of   the Exemptions as in effect at the time of such transfer or (2) is an   insurance company general account that is eligible for, and satisfies all of   the requirements for, Sections I and III of
Department of Labor Prohibited   Transaction Class Exemption 95-60 (“PTE 95-60”).
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          10.         The   Transferee is not a U.S. Person and under applicable law in effect on the   date hereof, no taxes will be required to be withheld by the Trustee (or its   agent) with respect to distributions to be made on the Transferred   Certificate.  The Transferee has   attached hereto (i) a duly executed IRS Form W-8BEN (or successor form),   which identifies such Transferee as the beneficial owner of the Transferred   Certificate and states that such Transferee is not a U.S. Person, (ii) two   duly executed copies of IRS Form W-8IMY (with all the appropriate   attachments) or (iii) two duly executed copies of IRS Form W-8ECI (or   successor form), which identify such Transferee as the beneficial owner of   the Transferred Certificate and state that interest and original issue   discount on the Transferred Certificate and Permitted Investments is,
or is   expected to be, effectively connected with a U.S. trade or business.  The Transferee agrees to provide to the   Certificate Registrar updated IRS Form W 8BEN, IRS Form W-8IMY or IRS Form   W-8ECI, as the case may be, any applicable successor IRS forms, or such other   certifications as the Certificate Registrar may reasonably request, on or   before the date that any such IRS form or certification expires or becomes   obsolete, or promptly after the occurrence of any event requiring a change in   the most recent IRS form of certification furnished by it to the Certificate   Registrar.
  



F-4-3









For this purpose, “U.S. Person” means a citizen or resident of the United States, a corporation or partnership (including an entity treated as a corporation or partnership for federal income tax purposes) created or organized in, or under the laws of, the United States, any State thereof or the District of Columbia unless in the case of a partnership, Treasury Regulations are adopted that provide otherwise, an estate whose income is includable in gross income for United States federal income tax purposes regardless of its source or a trust if a court within the United States is able to exercise primary supervision over the administration of the trust, and one or more U.S. Persons have the authority to control all substantial decisions of the trust (or, to the extent provided in applicable Treasury Regulations, certain trusts in existence on August 20, 1996 which are eligible to elect to be treated as U.S. Persons), all within the meaning of Section
7701(a)(30) of the Code.

	
  
 
  	
  
Very truly yours,
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  


  
	
   
  	
  
(Transferor)
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
___________________________________
  
	
  
 
  	
  
Name:
  	
  
___________________________________
  
	
  
 
  	
  
Title:
  	
  
___________________________________
  




F-4-4









EXHIBIT F-5


FORM OF TRANSFER CERTIFICATE
 FOR EXCHANGE OR TRANSFER FROM 
 DOMESTIC GLOBAL CERTIFICATE TO REGULATION S
 GLOBAL CERTIFICATE DURING THE RESTRICTED PERIOD

	
  
Wells Fargo Bank, N.A.
  
	
  
Wells Fargo Center
  
	
  
Sixth Street and Marquette Avenue
  
	
  
Minneapolis, MN 55479-0113
  





	
  
Attn:
  	
  
Corporate Trust Services - Wachovia Bank Commercial   Mortgage
  
	
  
 
  	
  
Trust, Commercial Mortgage Pass-Through Certificates,   Series 2007-C31
  





	
  
 
  	
  
Re
  	
  

Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage Pass-Through
Certificates, Series 2007-C31, Class [__] Certificate
 
 
	
   
  	
  
 
  	
  
Transfer of Wachovia Bank Commercial Mortgage Trust,   Commercial Mortgage Pass-Through Certificates, Series 2007-C31, Class [__] Certificate
  




Ladies and Gentlemen:


                                Reference is hereby made to the pooling and servicing agreement, dated as of May 1, 2007 (the “Pooling and Servicing Agreement”), by and among Wachovia Mortgage Commercial Securities, Inc., as Depositor, Wachovia Bank, National Association, as Master Servicer, LNR Partners, Inc., as Special Servicer, and Wells Fargo Bank, N.A., as Trustee.  Capitalized terms used but not defined herein shall have the meanings given to them in the Pooling and Servicing Agreement.


                                This
letter relates to US $[__________] aggregate Certificate Principal Amount of
Certificates (the “Certificates”) which are held in the form of the
Domestic Global Certificate (CUSIP No. _____________) with the Depository in the
name of [insert name of transferor] (the “Transferor”).  The
Transferor has requested a transfer of such beneficial interest for an interest
in the Regulation S Global Certificate (CUSIP No. ____________) to be held with
[Euroclear] [Clearstream] * (ISIN No._____________) through the Depository.


                                In connection with such request and in respect of such Certificates, the Transferor does hereby certify that such transfer has been effected in accordance with the transfer restrictions set forth in the Pooling and Servicing Agreement and pursuant to and in accordance with Regulation S under the Securities Act of 1933, as amended (the “Securities Act”), and accordingly the Transferor does hereby certify that:


	
  
 
  	
  
          1.          the   offer of the Certificates was not made to a person in the United States,
  





	
  


  
	
  
*
  	
  
Select appropriate depository.
  




F-5-1









                                [2.          at
the time the buy order was originated, the transferee was outside the United
States or the Transferor and any persons acting on its behalf reasonably
believed that the transferee was outside the United States,]** 


                                [2.          the transaction was executed in, on or through the facilities of a designated offshore securities market and neither the Transferor nor any person acting on its behalf knows that the transaction was prearranged with a buyer in the United States,]**


	
  
 
  	
  
          3.           no   directed selling efforts have been made in contravention of the requirements   of Rule 903(b) or 904(b) of Regulation S, as applicable, and
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          4.           the   transaction is not part of a plan or scheme to evade the registration   requirements of the Securities Act.
  




                               This certificate and the statements contained herein are made for your benefit and the benefit of the Depositor, the Trustee, the Master Servicer and the Special Servicer.

	
  
 
  	
  
[Insert Name of Transferor]
  
	
   
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
___________________________________
  
	
  
 
  	
  
Name:
  	
  
 
  
	
  
 
  	
  
Title:
  	
  
 
  




Dated:  ___________ __, _____

	
  


  
	
  
**
  	
  
Insert one of these two provisions, which come from   the definition of “offshore transaction” in Regulation S.
  



F-5-2









EXHIBIT F-6


FORM OF TRANSFER CERTIFICATE
 FOR EXCHANGE OR TRANSFER FROM DOMESTIC
 GLOBAL CERTIFICATE TO REGULATION S GLOBAL
 CERTIFICATE AFTER THE RESTRICTED PERIOD

	
  
Wells Fargo Bank, N.A.
  
	
  
Wells Fargo Center
  
	
  
Sixth Street and Marquette Avenue
  
	
  
Minneapolis, MN 55479-0113
  





	
  
Attn:
  	
  
Corporate Trust Services - Wachovia Bank Commercial   Mortgage
  
	
  
 
  	
  
Trust, Commercial Mortgage Pass-Through   Certificates, Series 2007-C31
  





	
   
  	
  
Re
  	
  
Transfer of the Wachovia Bank Commercial Mortgage   Trust, Commercial Mortgage Pass-Through Certificates, Series 2007-C31, Class   [__] Certificate
  




Ladies and Gentleman:


                                Reference is hereby made to the pooling and servicing agreement, dated as of May 1, 2007 (the “Pooling and Servicing Agreement”), by and among Wachovia Commercial Mortgage Securities, Inc., as Depositor, Wachovia Bank, National Association, as Master Servicer, LNR Partners, Inc., as Special Servicer, and Wells Fargo Bank, N.A., as Trustee.  Capitalized terms used but not defined herein shall have the meanings given to them in the Pooling and Servicing Agreement.


                                This letter relates to US $[____________] aggregate Certificate Principal Amount of Certificates (the “Certificates”) which are held in the form of the Domestic Global Certificate (CUSIP No. ________) with the Depository in the name of [insert name of Transferor] (the “Transferor”).  The Transferor has requested a transfer of such beneficial interest in the Certificates for an interest in the Regulation S Global Certificate (ISIN No. __________).


                                In connection with such request, and in respect of such Certificates, the Transferor does hereby certify that such transfer has been effected in accordance with the transfer restrictions set forth in the Pooling and Servicing Agreement and, (i) with respect to transfers made in reliance on Regulation S under the Securities Act of 1933, as amended (the “Securities Act”), the Transferor does hereby certify that:


	
  
 
  	
  
          1.          the   offer of the Certificates was not made to a person in the United States,
  




F-6-1









                                [2.         at
the time the buy order was originated, the transferee was outside the United
States or the Transferor and any person acting on its behalf reasonably believed
that the transferee was outside the United States,]*


                                [2.         the transaction was executed in, on or through the facilities of a designated offshore securities market and neither the Transferor nor any person action on its behalf knows that the transaction was prearranged with a buyer in the United States,]*

	
  
 
  	
  
          3.          no   directed selling efforts have been made in contravention of the requirements   of Rule 903(b) or 904(b) of Regulation S, as applicable, and
  
	
   
  	
  
 
  
	
  
 
  	
  
          4.          the   transaction is not part of a plan or scheme to evade the registration   requirements of the Securities Act;
  




                               or (ii) with respect to transfers made in reliance on Rule 144 under the Securities Act, the Transferor does hereby certify that the Certificates that are being transferred are not “restricted securities” as defined in Rule 144 under the Securities Act.


                               This certificate and the statements contained herein are made for your benefit and the benefit of the Depositor, the Master Servicer, the Special Servicer and the Trustee.

	
  
 
  	
  
[Insert Name of Transferor]
  
	
  
 
  	
  
 
  	
  
 
  
	
   
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
___________________________________
  
	
  
 
  	
  
Name:
  	
  
___________________________________
  
	
  
 
  	
  
Title:
  	
  
___________________________________
  




________ __, ____

	
  


  
	
  
*
  	
  
Insert one of these two provisions, which come from   the definition of “offshore transaction” in Regulation S.
  




F-6-2









EXHIBIT G


FORM OF TRANSFEREE CERTIFICATE


[Date]

	
  
Wells Fargo Bank, N.A.
  
	
  
Wells Fargo Center
  
	
  
Sixth Street and Marquette Avenue
  
	
  
Minneapolis, MN 55479-0113
  





	
  
Attn:
  	
  
Corporate Trust Services - Wachovia Bank Commercial   Mortgage
  
	
  
 
  	
  
Trust, Commercial Mortgage Pass-Through   Certificates, Series 2007-C31
  





	
  
 
  	
  
Re
  	
  
Wachovia Bank Commercial Mortgage Trust,
  
	
   
  	
  
 
  	
  
Commercial Mortgage Pass-Through Certificates,   Series 2007-C31 (the “Certificates”)
  




Ladies and Gentlemen:


                                This letter is delivered to you in connection with the transfer by ____________________ (the “Transferor”) to _______________________ (the “Transferee”) of the Class ______________ Certificates (the “Transferred Certificate”) having an initial [principal balance] [notional amount] as of May 23, 2007 (the “Closing Date”) of $_____________ evidencing a __% interest in the Classes to which they belong.  The Certificates were issued pursuant to a pooling and servicing agreement, dated as of May 1, 2007 (the “Pooling and Servicing Agreement”), Wachovia Commercial Mortgage Securities, Inc., as Depositor, Wachovia Bank, National Association, as Master Servicer, LNR Partners, Inc., as Special
Servicer and Wells Fargo Bank, N.A., as Trustee.  Capitalized terms used but not defined herein shall have the meanings set forth in the Pooling and Servicing Agreement.  The Transferee hereby certifies, represents and warrants to you that:


                                In the case of a Class IO, Class G, Class H, Class J or Class K Certificate, the Transferee either (A) is not an “employee benefit plan” subject to Title I of ERISA or a “plan” described by Section 4975(e)(1) of the Code or any other retirement plan or other employee benefit plan or arrangement subject to any federal, state or local law materially similar to the foregoing provisions of ERISA and the Code, or any entity deemed to hold plan assets of the foregoing by reason of a plan’s investment in such entity (each, a “Plan”) or (B) (1) qualifies as an accredited investor as defined in Rule 501(a)(1) of Regulation D under the Securities Act and satisfies all the requirements of the Exemptions as in effect at the time of such
transfer or (2) is an insurance company general account that is eligible for, and satisfies all of the requirements for, Sections I and III of Department of Labor Prohibited Transaction Class Exemption 95-60 (“PTE 95-60”).


                                In the case of a Class L, Class M, Class N, Class O, Class P, Class Q, Class S, Class T or Class U Certificate, the Transferee either (A) is not an “employee benefit plan” subject to Title I of ERISA or a “plan” described by Section 4975(e)(1) of the Code, or any other retirement plan or other employee benefit plan or arrangement subject to any federal, state or 


G-1









local law materially similar to the foregoing provisions of ERISA and the Code, or any entity deemed to hold plan assets of the foregoing by reason of a plan’s investment in such entity (each, a “Plan”) or (B) is an insurance company general account which is eligible for, and satisfies all of the requirements for, exemptive relief under Sections I and III of Department of Labor Prohibited Transaction Class Exemption 95-60 (“PTE 95-60”).


                                In the case of a Class R-I, Class R-II or Class Z Certificate, the Transferee is not an “employee benefit plan” subject to Title I of ERISA or a “plan” described by Section 4975(e)(1) of the Code or any other retirement plan or other employee benefit plan or arrangement subject to any federal, state or local law materially similar to the foregoing provisions of ERISA and the Code, or any entity deemed to hold plan assets of the foregoing by reason of a plan’s investment in such entity (each, a “Plan”).


                                IN WITNESS WHEREOF, the undersigned has executed this certificate as of the date first written above.


	
  
 
  	
  
 
  
	
  
 
  	
  


  
	
  
 
  	
  
[Name of Transferee]
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
___________________________________
  
	
  
 
  	
  
Name:
  	
  
___________________________________
  
	
   
  	
  
Title:
  	
  
___________________________________
  




G-2









EXHIBIT H-1


FORM OF TRANSFER AFFIDAVIT AND AGREEMENT
 PURSUANT TO SECTION 5.02(d)(i)(B)


STATE OF [________________]         )
                                                                ) ss.:
 COUNTY OF [________________]     )


                    [NAME OF OFFICER], being first duly sworn, deposes, and represents and warrants:

	
  
 
  	
  
          1.          That   he is a [Title of Officer] of [Name of Owner] (the “Owner”), a   corporation duly organized and existing under the laws of the [State of   ___________] [the United States], and the owner of the Wachovia Commercial   Mortgage Securities, Inc., Commercial Mortgage Pass-Through Certificates,   Series 2007-C31, Class [R-I] [R-II] evidencing a ___% Interest in the Class   to which its belongs (the “Class [R-I] [R-II]”).  Capitalized terms used but not defined   herein have the meanings assigned to such terms in the pooling and servicing   agreement, dated as of May 1, 2007 (the “Pooling and Servicing Agreement”)   among Wachovia Commercial Mortgage Securities, Inc., as Depositor, Wachovia   Bank, National Association, as Master Servicer, LNR Partners, Inc., as   Special Servicer, and
Wells Fargo Bank, N.A., as Trustee.
  
	
   
  	
  
 
  
	
  
 
  	
  
          2.          That   the Owner (i) is and will be a “Permitted Transferee” as of ________, _______   and (ii) is acquiring the Class [R-I] [R-II] Certificates for its own account   or for the account of another Owner from which it has received an affidavit   in substantially the same form as this affidavit.  A “Permitted Transferee” is any person other than a   Disqualified Organization, a Plan, a Disqualified Non-United States Person, a   partnership any partner of which, directly or indirectly (except through a   U.S. corporation), is a Disqualified Non-United States Person or a United   States Person with respect to whom income on the Class [R-I][R-II]   Certificate is allocable to a foreign permanent establishment or fixed base,   within the meaning of an applicable income tax treaty, of such Person or any   other United
States Person.  For this   purpose, a “Disqualified Organization” means any of the following: (i)   the United States or a possession thereof, any State or any political   subdivision thereof, or any agency or instrumentality of any of the foregoing   (other than an instrumentality which is a corporation if all of its   activities are subject to tax and, except for FHLMC, a majority of its board   of directors is not selected by any such governmental unit), (ii) a foreign   government, international organization, or any agency or instrumentality of   either of the foregoing, (iii) any organization (except certain farmers’   cooperatives described in Section 521 of the Internal Revenue Code of 1986,   as amended (the “Code”)) which is exempt from the tax imposed by   Chapter 1 of the Code (unless such organization is subject to the tax imposed   by Section 511 of the Code on unrelated business taxable income), (iv) rural   electric and telephone cooperatives
described in Section 1381 of the Code or   (v) any other Person so 
  



H-1-1








	
  
 
  	
  
designated by the Paying Agent or the Certificate   Registrar based upon an Opinion of Counsel that the holding of an Ownership   Interest in a Class [R-I] [R-II] Certificate by such Person may cause the   Trust Fund or any Person having an Ownership Interest in any Class of   Certificates, other than such Person, to incur a liability for any federal   tax imposed under the Code that would not otherwise be imposed but for the   Transfer of an Ownership Interest in a Class [R-I] [R-II] Certificate to such   Person.  The terms “United States”,   “State” and “international organization” shall have the   meanings set forth in Section 7701 of the Code or successor provisions.
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          3.          A   “Disqualified Non-United States Person” is any Person (i) who is not a   United States Person and who holds the Class[R-I] [R-II] Certificate in   connection with the conduct of a trade or business within the United States   and has furnished the transferor and the Certificate Registrar with an   effective IRS Form W-8ECI (or successor form) or that has delivered to both   the transferor and the Certificate Registrar an opinion of a nationally   recognized tax counsel to the effect that the transfer of the Class [R-I]   [R-II] Certificate to it is in accordance with the requirements of the Code   and the regulations promulgated thereunder and that such transfer of the   Class [R-I] [R-II] Certificate will not be disregarded for federal income tax   purposes or (ii) who is a United States Person with respect to whom income
on   the Class [R-I] [R-II] Certificate is allocable to a foreign permanent   establishment or fixed base (within the meaning of an applicable income tax   treaty) of such Person or any other United States Person.  A “United States Person” is a   citizen or resident of the United States, a corporation or partnership   (including an entity treated as a corporation or partnership for federal   income tax purposes) created or organized in, or under the laws of the United   States, any State thereof or the District of Columbia unless, in the case of   a partnership, Treasury Regulations are adopted that provide otherwise, an   estate whose income is includable in gross income for United States federal   income tax purposes regardless of its source, or a trust if a court within   the United States is able to exercise primary supervision over the   administration of the trust and one or more United States Persons have the   authority to control all substantial decisions of the trust,
all within the   meaning of Section 7701(a)(30) of the Code.
  
	
   
  	
  
 
  
	
  
 
  	
  
          4.          That   the Owner is aware (i) of the tax that would be imposed on transfers of the   Class [R-I] [R-II] Certificates to Disqualified Organizations under the Code   that applies to all transfers of the Class [R-I] [R-II] Certificates after   March 31, 1988; (ii) that such tax would be on the transferor, or, if such   transfer is through an agent (which person includes a broker, nominee or   middleman) for a Disqualified Organization Transferee, on the agent; (iii)   that the person otherwise liable for the tax shall be relieved of liability   for the tax if the transferee furnishes to such person an affidavit that the   transferee is not a Disqualified Organization and, at the time of transfer,   such person does not have actual knowledge that the affidavit is false; and   (iv) that the Class [R-I] [R-II] Certificates may be “non-economic
residual   interests” within the meaning of Treasury regulation section 1.860E-1(c)(2)   and that the transferor of a “non-economic residual interest” will remain   liable for any taxes due with respect to the income on such residual   interest, unless no significant purpose of the transfer is to enable the   transferor to impede the assessment or collection of tax.
  




H-1-2








	
  
 
  	
  
          5.          That   the Owner is aware of the tax imposed on a “pass-through entity” holding the   Class [R-I] [R-II] Certificates if at any time during the taxable year of the   pass-through entity a non-Permitted Transferee is the record holder of an   interest in such entity.  For this   purpose, a “pass through entity” includes a regulated investment   company, a real estate investment trust or common trust fund, a partnership,   trust or estate, and certain cooperatives.
  
	
   
  	
  
 
  
	
  
 
  	
  
          6.          That   the Owner is aware that the Certificate Registrar will not register the transfer   of any Class [R-I] [R-II] Certificate unless the transferee, or the   transferee’s agent, delivers to the Trustee, among other things, an affidavit   in substantially the same form as this affidavit.  The Owner expressly agrees that it will not consummate any such   transfer if it knows or believes that any of the representations contained in   such affidavit and agreement are false.
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          7.          That   the Owner consents to any additional restrictions or arrangements that shall   be deemed necessary upon advice of counsel to constitute a reasonable   arrangement to ensure that the Class [R-I] [R-II] Certificates will only be   owned, directly or indirectly, by Permitted Transferees.
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          8.          That   the Owner’s taxpayer identification number is _____________.
  
	
   
  	
  
 
  
	
  
 
  	
  
          9.          That   the Owner has reviewed the restrictions set forth on the face of the Class   [R-I] [R-II] Certificates and the provisions of Section 5.02 of the Pooling   and Servicing Agreement under which the Class [R-I] [R-II] Certificates were   issued (and, in particular, the Owner is aware that such Section authorizes   the Paying Agent to deliver payments to a person other than the Owner and   negotiate a mandatory sale by the Paying Agent in the event that the Owner   holds such Certificate in violation of Section 5.02); and that the Owner   expressly agrees to be bound by and to comply with such restrictions and   provisions.
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          10.         That   the Owner is not acquiring and will not transfer the Class [R-I] [R-II] Certificates   in order to impede the assessment or collection of any tax.
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          11.         That   the Owner has historically paid its debts as they have come due, intends to   continue to pay its debts as they come due in the future, and anticipates that   it will, so long as it holds any of the Class [R-I] [R-II] Certificates, have   sufficient assets to pay any taxes owed by the holder of such Class [R-I]   [R-II] Certificates.
  
	
   
  	
  
 
  
	
  
 
  	
  
          12.         That   the Owner has no present knowledge that it may become insolvent or subject to   a bankruptcy proceeding for so long as it holds any of the Class [R-I] [R-II]   Certificates.
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          13.         That   the Owner has no present knowledge or expectation that it will be unable to   pay any United States taxes owed by it so long as any of the Certificates   remain outstanding.  In this regard,   the Owner hereby represents to and for the benefit of the Person from whom it   acquired the Class [R-I] [R-II] Certificates that the Owner intends to pay   taxes associated with holding the Class [R-I] [R-II] Certificates as they   become 
  




H-1-3








	
  
 
  	
  
due, fully understanding that it may incur tax   liabilities in excess of any cash flows generated by the Class [R-I] [R-II]   Certificates.
  
	
   
  	
  
 
  
	
  
 
  	
  
          14.         That   the Owner is not acquiring the Class [R-I] [R-II] Certificates with the   intent to transfer any of the Class [R-I] [R-II] Certificates to any person   or entity that will not have sufficient assets to pay any taxes owed by the   holder of such Class [R-I] [R-II] Certificates, or that may become insolvent   or subject to a bankruptcy proceeding, for so long as the Class [R-I] [R-II]   Certificates remain outstanding.
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          15.         That   the Owner will, in connection with any transfer that it makes of the Class   [R-I] [R-II] Certificates, obtain from its transferee the representations   required by Section 5.02(d) of the Pooling and Servicing Agreement under   which the Class [R-I] [R-II] Certificates were issued and will not consummate   any such transfer if it knows, or knows facts that should lead it to believe,   that any such representations are false.
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          16.         That   the Owner will, in connection with any transfer that it makes of any Class   [R-I] [R-II] Certificate, deliver to the Certificate Registrar an affidavit,   which represents and warrants that it is not transferring such Class [R-I]   [R-II] Certificate to impede the assessment or collection of any tax and that   it has no actual knowledge that the proposed transferee:  (i) has insufficient assets to pay any   taxes owed by such transferee as holder of such Class [R-I] [R-II]   Certificate; (ii) may become insolvent or subject to a bankruptcy proceeding,   for so long as the Class [R-I] [R-II] Certificates remain outstanding; and   (iii) is not a “Permitted Transferee”.
  
	
   
  	
  
 
  
	
  
 
  	
  
          17.         Check   the applicable paragraph:
  





	
  
 
  	
  
o
  	
  
The present value of the anticipated tax liabilities   associated with holding the [R-I] [R-II] Certificate, as applicable, does not   exceed the sum of:
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
(i)
  	
  
the present value of any consideration given to the   Owner to acquire such [R-I] [R-II] Certificate;
  
	
  
 
  	
  
 
  	
  
 
  
	
   
  	
  
(ii)
  	
  
the present value of the expected future   distributions on such [R-I] [R-II] Certificate; and
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
(iii)
  	
  
the present value of the anticipated tax savings   associated with holding such [R-I] [R-II] Certificate as the related REMIC   generates losses.
  




                     For purposes of this calculation, (i) the Owner is assumed to pay tax at the highest rate currently specified in Section 11(b) of the Code (but the tax rate in Section 55(b)(1)(B) of the Code may be used in lieu of the highest rate specified in Section 11(b) of the Code if the Owner has been subject to the alternative minimum tax under Section 55 of the Code in the preceding two years and will compute its taxable income in the current taxable year using the alternative minimum tax rate) and (ii) present values are computed using a discount rate equal to the short-term Federal rate prescribed by Section 1274(d) of the Code for the month of the transfer and the compounding period used by the Owner.


H-1-4








	
   
  	
  
o
  	
  
The transfer of the [R-I] [R-II] Certificate   complies with U.S. Treasury Regulations Sections 1.860E-1(c)(5) and (6) and,   accordingly,
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
(i)
  	
  
the Owner is an “eligible corporation,” as defined   in U.S. Treasury Regulations Section 1.860E-1(c)(6)(i), as to which income   from the [R-I] [R-II] Certificate will only be taxed in the United States;
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
(ii)
  	
  
at the time of the transfer, and at the close of the   Owner’s two fiscal years preceding the year of the transfer, the Owner had   gross assets for financial reporting purposes (excluding any obligation of a   person related to the Owner  within   the meaning of U.S. Treasury Regulations Section 1.860E-1(c)(6)(ii)) in   excess of $100 million and net assets in excess of $10 million;
  
	
  
 
  	
  
 
  	
  
 
  
	
   
  	
  
(iii)
  	
  
the Owner will transfer the [R-I] [R-II] Certificate   only to another “eligible corporation,” as defined in U.S. Treasury   Regulations Section 1.860E-1(c)(6)(i), in a transaction that satisfies the   requirements of Sections 1.860E-1(c)(4)(i), (ii) and (iii) and Section   1.860E-1(c)(5) of the U.S. Treasury Regulations; and
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
(iv)
  	
  
the Owner determined the consideration paid to it to   acquire the [R-I] [R-II] Certificate based on reasonable market assumptions   (including, but not limited to, borrowing and investment rates, prepayment   and loss assumptions, expense and reinvestment assumptions, tax rates and   other factors specific to the Owner) that it has determined in good faith.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
o
  	
  
None of the above.
  




H-1-5









                                IN WITNESS WHEREOF, the Owner has caused this instrument to be executed on its behalf, by its [Title of Officer] and Authorized Signatory, attested by its Assistant Secretary, this ____ day of _____, ___.

	
  
 
  	
  
[NAME OF OWNER]
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
___________________________________
  
	
  
 
  	
  
 
  	
  
[Name of Officer]
  
	
  
 
  	
  
 
  	
  
[Title of Officer]
  



 

	
  


  	
  
 
  
	
  
[Assistant] Secretary
  	
  
 
  




                                Personally appeared before me the above-named [Name of Officer], known or proved to me to be the same person who executed the foregoing instrument and to be [Title of Officer], and acknowledged to me that he executed the same as his free act and deed and the free act and deed of the Owner.


Subscribed and sworn before me this ____ day of _____, _____.
 

	
  
 
  	
  


  
	
  
 
  	
  
NOTARY PUBLIC
  
	
  
 
  	
  
 
  
	
   
  	
  
 
  
	
  
 
  	
  
COUNTY OF _____________________________
  
	
  
 
  	
  
STATE OF _______________________________
  
	
  
 
  	
  
 
  
	
  
 
  	
  
My Commission expires the 
     ____ day of ___________, ____.
  




H-1-6









EXHIBIT H-2


FORM OF TRANSFEROR CERTIFICATE
 PURSUANT TO SECTION 5.02(d)(i)(D)


[Date]

	
  
Wells Fargo Bank, N.A.
  
	
  
Wells Fargo Center
  
	
  
Sixth Street and Marquette Avenue
  
	
  
Minneapolis, MN 55479-0113
  





	
  
Attn:
  	
  
Corporate Trust Services - Wachovia Bank Commercial   Mortgage
  
	
  
 
  	
  
Trust, Commercial Mortgage Pass-Through   Certificates, Series 2007-C31
  





	
  
 
  	
  
Re
  	
  
Wachovia Bank Commercial Mortgage Trust, 
  
	
  
 
  	
  
 
  	
  
Commercial Mortgage Pass-Through Certificates, 
  
	
  
 
  	
  
 
  	
  
Series 2007-C31, Class  [R-I] [R-II], evidencing a ____%
  
	
   
  	
  
 
  	
  
percentage interest in the Class to which they   belong
  




Dear Sirs:


                                This letter is delivered to you in connection with the transfer by _________ (the “Transferor”) to ______________________ (the “Transferee”) of the captioned Class [R-I] [R-II] Certificates (the “Class [R-I] [R-II] Certificates”), pursuant to Section 5.02 of the pooling and servicing agreement (the “Pooling and Servicing Agreement”), dated as of May 1, 2007, among Wachovia Commercial Mortgage Securities, Inc., as Depositor, Wachovia Bank, National Association, as Master Servicer, LNR Partners, Inc., as Special Servicer, and Wells Fargo Bank, N.A., as Trustee.  All terms used herein and not otherwise defined shall have the meanings set forth in the Pooling and Servicing Agreement.  The Transferor
hereby represents and warrants to you, as Certificate Registrar, that:

	
  
 
  	
  
          1.          No   purpose of the Transferor relating to the transfer of the Class [R-I] [R-II]   Certificates by the Transferor to the Transferee is or will be to impede the   assessment or collection of any tax.
  
	
  
 
  	
  
 
  
	
   
  	
  
          2.          The   Transferor understands that the Transferee has delivered to you a Transfer   Affidavit and Agreement in the form attached to the Pooling and Servicing   Agreement as Exhibit H-1.  The   Transferor does not know or believe that any representation contained therein   is false.
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          3.          The   Transferor at the time of this transfer has conducted a reasonable   investigation of the financial condition of the Transferee as contemplated by   Treasury regulation section 1.860E-1(c)(4)(i) and, as a result of that   investigation, the Transferor has determined that the Transferee has   historically paid its debts as they became due and has found no significant   evidence to indicate that the Transferee will not continue to pay its debts   as they become due in the future.
  




H-2-1








	
  
 
  	
  
          4.          The   Transferor understands that the transfer of the Class [R-I] [R-II]   Certificates may not be respected for United States income tax purposes (and   the Transferor may continue to be liable for United States income taxes   associated therewith) unless the test described above in Paragraph 3 has been   met as to any transfer.
  





	
  
 
  	
  
Very truly yours,
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
____________________________________
  
	
  
 
  	
  
Name:
  	
  
____________________________________
  
	
  
 
  	
  
Title:
  	
  
____________________________________
  




H-2-2









EXHIBIT I-1


FORM OF NOTICE AND ACKNOWLEDGMENT


[Date]

	
  
Moody’s Investors Service, Inc.
  
	
  
99 Church Street 
  
	
  
New York, New York    10007
  
	
  
Attention:    Commercial Mortgage Surveillance
  
	
  
 
  
	
  
Standard & Poor’s Ratings Services,
  
	
  
a division of The McGraw-Hill Companies, Inc.
  
	
  
56 Water Street
  
	
  
New York, New York    10041-0003
  
	
  
Attention:    CMBS Surveillance Group
  




Ladies and Gentlemen:


                               This notice is being delivered pursuant to Section 6.09 of the pooling and servicing agreement, dated as of May 1, 2007 (the “Pooling and Servicing Agreement”) relating to Wachovia Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2007-C31.  Any term with initial capital letters not otherwise defined in this notice has the meaning given such term in the Pooling and Servicing Agreement.


                               Notice is hereby given that the Holders of Certificates evidencing a majority of the Voting Rights allocated to the Controlling Class have designated ___________________ to serve as the Special Servicer under the Pooling and Servicing Agreement.


                               The designation of ____________________ as Special Servicer will become final if certain conditions are met and on the date you will deliver to Wells Fargo Bank, N.A., the trustee under the Pooling and Servicing Agreement (the “Trustee”), a written confirmation stating that the appointment of the person designated to become the Special Servicer will not result in the qualification, downgrading or withdrawal of the rating or ratings assigned to one or more Classes of the Certificates.


I-1-1









Please acknowledge receipt of this notice by signing the enclosed copy of this notice where indicated below and returning it to the Trustee, in the enclosed stamped self-addressed envelope.

	
  
 
  	
  
Very truly yours,
  
	
  
 
  	
  
 
  
	
   
  	
  
WELLS FARGO BANK, N.A.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
____________________________________
  
	
  
 
  	
  
Name:
  	
  
____________________________________
  
	
  
 
  	
  
Title:
  	
  
____________________________________
  




Receipt and acknowledged:

	
  Moody’s Investors Service, Inc.
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
_______________________________________
  	
  
 
  
	
  
 
  	
  
Title:
  	
  
_______________________________________
  	
  
 
  
	
  
 
  	
  
Date:
  	
  
_______________________________________
  	
  
 
  




 


	
  
Standard & Poor’s Ratings Services, a division   of The McGraw-Hill Companies, Inc.
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
________________________________________
  	
  
 
  
	
  
 
  	
  
Title:
  	
  
________________________________________
  	
  
 
  
	
   
  	
  
Date:
  	
  
________________________________________
  	
  
 
  




I-1-2









EXHIBIT I-2


FORM OF ACKNOWLEDGMENT OF PROPOSED SPECIAL SERVICER


[Date]

	
  
Wells Fargo Bank, N.A.
  
	
  
CMBS Department
  
	
  
9062 Old Annapolis Road
  
	
  
Columbia, Maryland 21045
  




 

	
  
Attn:
  	
  
Corporate Trust Services - Wachovia Bank Commercial   Mortgage
  
	
  
 
  	
  
Trust, Commercial Mortgage Pass-Through   Certificates, Series 2007-C31
  



Ladies & Gentlemen:  


                     Pursuant to Section 6.09 of the pooling and servicing agreement, dated as of May 1, 2007 (the “Pooling and Servicing Agreement”), relating to Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2007-C31, the undersigned hereby agrees with all the other parties to the Pooling and Servicing Agreement that the undersigned shall serve as Special Servicer under, and as defined in, the Pooling and Servicing Agreement.  The undersigned hereby acknowledges that, as of the date hereof, it is and shall be a party to the Pooling and Servicing Agreement and bound thereby to the full extent indicated therein in the capacity of Special Servicer.  The undersigned hereby makes, as of the date hereof, the representations and warranties set forth in Section 3.23(b)(ii)-(ix) of the Pooling
and Servicing Agreement as if it were the Special Servicer thereunder.  The undersigned additionally represents that, as of the date hereof, it has been duly organized and is validly existing under the laws of the jurisdiction of its organization and that it is in compliance with the laws of each state in which a Mortgaged Property (as defined in the Pooling and Servicing Agreement) is located to the extent necessary to perform its obligations under the Pooling and Servicing Agreement.

	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
 
  
	
   
  	
  
 
By:
  	
  
___________________________________
  
	
  
 
  	
  
Name:
  	
  
___________________________________
  
	
  
 
  	
  
Title:
  	
  
___________________________________
  




I-2-1









EXHIBIT J


LIST OF EARNOUT AND HOLDBACK MORTGAGE LOANS

	
  
Mortage Loan 
   Number
  		
  
Loan Name
  
	
  


  	 	
  

  
	
  
25
  	 	
  
Central Texas   Marketplace
  
	
  
71
  	 	
  
901 7th   Street
  
	
  112
  	 	
  
SSK Applewood Pointe
  
	
  
117
  	 	
  
SSK Ashley Pointe
  
	
  
129
  	 	
  
Gander Mountain –   Cicero
  
	
  
132
  	 	
  
SSK Heartland Pointe
  
	
  
180
  	 	
  
Gateway Retail Center   II
  
	
  
187
  	 	
  
Gas Lite Manor
  




J-1









EXHIBIT K-1


FORM OF CERTIFICATEHOLDER CONFIRMATION CERTIFICATE
 REQUEST BY BENEFICIAL HOLDER


[Date]

	
  
Wells Fargo Bank, N.A.
  
	
  
CMBS Department
  
	
  9062 Old Annapolis Road
  
	
  
Columbia, Maryland 21045
  





	
  
Attn:
  	
  
Corporate Trust Services - Wachovia Bank Commercial   Mortgage
  
	
  
 
  	
  
Trust, Commercial Mortgage Pass-Through   Certificates, Series 2007-C31
  





	
  
 
  	
  
Re
  	
  
Wachovia Bank, National Association
  
	
  
 
  	
  
 
  	
  
8739 Research Drive – URP4
  
	
  
 
  	
  
 
  	
  
Charlotte, North Carolina 28288
  





	
  
Attention:
  	
  
Wachovia Bank Commercial Mortgage Trust, Commercial   Mortgage
  
	
  
 
  	
  
Pass-Through Certificates, Series 2007-C31
  





	
  
LNR Partners, Inc.
  
	
  
1601 Washington Avenue, Suite 700
  
	
  
Miami Beach, Florida 33139
  
	
  
Attention: Randy Wilbert
  





	
  
 
  	
  
Re
  	
  
Wachovia Bank Commercial Mortgage Trust,
  
	
   
  	
  
 
  	
  
Commercial Mortgage Pass-Through Certificates,   Series 2007-C31
  




                                In accordance with Section 3.15 of the pooling and servicing agreement(the “Pooling and Servicing Agreement”), dated as of May 1, 2007, by and among Wachovia Commercial Mortgage Securities, Inc., as depositor (the “Depositor”), Wachovia Bank, National Association, as master servicer (in such capacity, the “Master Servicer”), LNR Partners, Inc., as special servicer (the “Special Servicer”), and Wells Fargo Bank, N.A., as Trustee (the “Trustee”), with respect to the Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2007-C31 (the “Certificates”), the undersigned hereby certifies and agrees as follows:

	
  
 
  	
  
 
  
	
  
 
  	
  
          1.          The   undersigned is a beneficial owner of the Class ____ Certificates.
  
	
  
 
  	
  
 
  
	
   
  	
  
          2.          The   undersigned is requesting access to the information posted to the Trustee’s   Internet Website pursuant to Section 4.02 of the Pooling and Servicing   Agreement, or the information identified on the schedule attached hereto   pursuant to Section 3.15 of the Pooling and Servicing Agreement (the “Information”).
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          3.          In   consideration of the [Trustee’s] [Master Servicer’s] [Special Servicer’s]   disclosure to the undersigned of the Information, the undersigned will keep   the Information confidential (except from its agents and auditors), and such   Information will 
  




K-1-1








	
  
 
  	
  
not, without the prior written consent of the   [Trustee] [Master Servicer] [Special Servicer], be disclosed by the   undersigned or by its officers, directors, partners, employees, agents or   representatives (collectively, the “Representatives”) in any manner   whatsoever, in whole or in part; provided that the undersigned may   provide all or any part of the Information to any other person or entity that   holds or is contemplating the purchase of any Certificate or interest   therein, but only if such person or entity confirms in writing such ownership   interest or prospective ownership interest and agrees to keep it   confidential.
  
	
   
  	
  
 
  
	
  
 
  	
  
          4.          The   undersigned will not use or disclose the Information in any manner which   could result in a violation of any provision of the Securities Act of 1933,   as amended, (the “Securities Act”), or the Securities Exchange Act of   1934, as amended, or would require registration of any Certificate pursuant   to Section 5 of the Securities Act.
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          5.          The   undersigned shall be fully liable for any breach of this agreement by itself   or any of its Representatives and shall indemnify the Depositor, the Trustee,   the Master Servicer, the Special Servicer and the Trust Fund for any loss,   liability or expense incurred thereby with respect to any such breach by the   undersigned or any of its Representatives.
  




                               IN WITNESS WHEREOF, the undersigned has caused its name to be signed hereto by its duly authorized officer, as of the day and year written above.

	
   
  	
  


  
	
  
 
  	
  
BENEFICIAL HOLDER OF A
   CERTIFICATE
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
___________________________________
  
	
  
 
  	
  
Name:
  	
  
___________________________________
  
	
  
 
  	
  
Title:
  	
  
___________________________________
  
	
  
 
  	
  
Phone:
  	
  
___________________________________
  



K-1-2









EXHIBIT K-2


FORM OF PROSPECTIVE PURCHASER CERTIFICATE


[Date]

	
  
Wells Fargo Bank, N.A.
  
	
  
CMBS Department
  
	
  
9062 Old Annapolis Road
  
	
  
Columbia, Maryland 21045
  





	
  
Attn:
  	
  
Corporate Trust Services - Wachovia Bank Commercial   Mortgage
  
	
  
 
  	
  
Trust, Commercial Mortgage Pass-Through   Certificates, Series 2007-C31
  





	
  Wachovia Bank, National Association
  
	
  
NC1075
  
	
  
8739 Research Drive – URP4
  
	
  
Charlotte, North Carolina  28262-1075
  
	
  
Attn:
  	
  
Wachovia Bank Commercial Mortgage Trust, Commercial   Mortgage Pass-Through
  
	
  
 
  	
  
Certificates, Series 2007-C31
  





	
  
LNR Partners, Inc.
  
	
  
1601 Washington Avenue, Suite 700
  
	
  
Miami Beach, Florida 33139
  
	
  
Attention: Randy Wilbert
  





	
   
  	
  
Re
  	
  
Wachovia Bank Commercial Mortgage Trust,
  
	
  
 
  	
  
 
  	
  
Commercial Mortgage Pass-Through Certificates,   Series 2007-C31 (the “Certificates”)
  




                                In accordance with Section 3.15 of the pooling and servicing agreement(the “Pooling and Servicing Agreement”), dated as of May 1, 2007, among Wachovia Commercial Mortgage Securities, Inc., as depositor (the “Depositor”), Wachovia Bank, National Association, as master servicer (in such capacity, the “Master Servicer”), LNR Partners, Inc., as special servicer (the “Special Servicer”), and Wells Fargo Bank, N.A., as Trustee (the “Trustee”), with respect to the Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2007-C31 (the “Certificates”), the undersigned hereby certifies and agrees as follows:

	
  
 
  	
  
          1.          The   undersigned is contemplating an investment in the Class __ Certificates.
  
	
   
  	
  
 
  
	
  
 
  	
  
          2.          The   undersigned is requesting access to the information posted to the Trustee’s   Internet Website pursuant to Section 4.02 of the Pooling and Servicing   Agreement, or the information identified on the schedule attached hereto   pursuant to Section 3.15 of the Pooling and Servicing Agreement (the “Information”)   for use in evaluating such possible investment.
  




K-2-1








	
  
 
  	
  
          3.          In   consideration of the [Trustee’s] [Master Servicer’s] [Special Servicer’s]   disclosure to the undersigned of the Information, the undersigned will keep   the Information confidential (except from its agents and auditors), and such   Information will not, without the prior written consent of the [Trustee]   [Master Servicer] [Special Servicer], be disclosed by the undersigned or by   its officers, directors, partners employees, agents or representatives   (collectively, the “Representatives”) in any manner whatsoever, in   whole or in part.
  
	
  
 
  	
  
 
  
	
   
  	
  
          4.          The   undersigned will not use or disclose the Information in any manner which   could result in a violation of any provision of the Securities Act of 1933,   as amended (the “Securities Act”), or the Securities Exchange Act of   1934, as amended, or would require registration of any Certificate pursuant   to Section 5 of the Securities Act.
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          5.          The   undersigned shall be fully liable for any breach of this agreement by itself   or any of its Representatives and shall indemnify the Depositor, the Trustee,   the Master Servicer, the Special Servicer and the Trust Fund for any loss,   liability or expense incurred thereby with respect to any such breach by the   undersigned or any of its Representatives.
  




                               IN WITNESS WHEREOF, the undersigned has caused its name to be signed hereto by its duly authorized officer, as of the day and year written above.

	
  
 
  	
  


  
	
   
  	
  
[PROSPECTIVE PURCHASER]
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
___________________________________
  
	
  
 
  	
  
Name:
  	
  
___________________________________
  
	
  
 
  	
  
Title:
  	
  
___________________________________
  
	
  
 
  	
  
Phone:
  	
  
___________________________________
  




K-2-2









EXHIBIT L


INITIAL COMPANION HOLDERS


Name:  The trust fund created under the 2007-C30 Pooling and Servicing Agreement, with respect to the Peter Cooper Village & Stuyvesant Town Pari Passu A-1 Companion Loan


          Address:  Wells Fargo Bank, N.A., 9062 Old Annapolis Road, Columbia, Maryland 21045-1951, Attention: Corporate Trust Services (CMBS) Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2007-C30


          Wiring Instructions:


          Tax Identification Number:


Name:  Wachovia Bank, National Association, with respect to the Peter Cooper Village & Stuyvesant Town Pari Passu A-2 Companion Loan


          Address:  301 South College Street, One Wachovia Center NC0166, Charlotte, North Carolina  28288


          Wiring Instructions:


          Tax Identification Number:


Name:  Wachovia Bank, National Association, with respect to the Peter Cooper Village & Stuyvesant Town Pari Passu A-4 Companion Loan


          Address:  301 South College Street, One Wachovia Center NC0166, Charlotte, North Carolina  28288


          Wiring Instructions:


          Tax Identification Number:


Name:  The trust fund created under the ML-CFC 2007-5 Pooling and Servicing Agreement, with respect to the Peter Cooper Village & Stuyvesant Town Pari Passu A-5 Companion Loan


          Address:  LaSalle Bank National Association, 135 South LaSalle Street, Suite 1625, Chicago, Illinois 60603, Attn:  Global Securities and Trust Services – ML-CFC Commercial Mortgage Trust 2007-5


          Wiring Instructions:


L-1









          Tax Identification Number:


Name:  Merrill Lynch Mortgage Lending, Inc., with respect to the Peter Cooper Village & Stuyvesant Town Pari Passu A-6 Companion Loan


          Address:  4 World Financial Center, Floor 16, New York, New York 10080


          Wiring Instructions:


          Tax Identification Number:


Name:  The trust fund created under the 2007-C30 Pooling and Servicing Agreement, with respect to the Five Times Square Pari Passu Companion Loan


          Address:  Wells Fargo Bank, N.A., 9062 Old Annapolis Road, Columbia, Maryland 21045-1951, Attention: Corporate Trust Services (CMBS) Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2007-C30


          Wiring Instructions:


          Tax Identification Number:


Name:  Wachovia Bank, National Association, with respect to the Five Times Square Subordinate Companion Loan


          Address:  301 South College Street, One Wachovia Center NC0166, Charlotte, North Carolina  28288


          Wiring Instructions:


          Tax Identification Number:


Name:  The trust fund created under the GECMC 2007-C1 Pooling and Servicing Agreement, with respect to two of the 666 Fifth Avenue Pari Passu Companion Loans


          Address:  Wells Fargo Bank, National Association, 9062 Old Annapolis Road, Columbia, Maryland 21045-1951, Attention: Corporate Trust Services (CMBS) (GE Commercial Mortgage Corporation, Commercial Mortgage Pass-Through Certificates, Series 2007-C1)


          Wiring Instructions:


L-2









          Tax Identification Number:


Name:  BCRE, with respect to two of the 666 Fifth Avenue Pari Passu Companion Loans


          Address:  200 Park Avenue, New York, New York 10166


          Wiring Instructions:


          Tax Identification Number:


Name:  UBS Real Estate Investments Inc., with respect to two of the 666 Fifth Avenue Pari Passu Companion Loans


          Address:  


          Wiring Instructions:


          Tax Identification Number:


Name:  Morgan Stanley Mortgage Capital Inc., with respect to the Beacon D.C. & Seattle Pool Pari Passu A-1 Companion Loan


          Address:  


          Wiring Instructions:


          Tax Identification Number:


Name:  Bear Stearns Commercial Mortgage, Inc., with respect to the Beacon D.C. & Seattle Pool Pari Passu A-2 Companion Loan


          Address:  


          Wiring Instructions:


          Tax Identification Number:


Name:  Wachovia Bank, National Association, with respect to the Los Angeles International Jewelry Center Subordinate Companion Loan


L-3









          Address:  301 South College Street, One Wachovia Center NC0166, Charlotte, North Carolina  28288


          Wiring Instructions:


          Tax Identification Number:


Name:  Nomura, with respect to Lembi Pool Subordinate Companion Loan


          Address:  2 World Financial Center, Building B, New York, New York 10281


          Wiring Instructions:


          Tax Identification Number:


Name:  Wachovia Bank, National Association, with respect to the 611 West 6th Street Subordinate Companion Loan


          Address:  301 South College Street, One Wachovia Center NC0166, Charlotte, North Carolina  28288


          Wiring Instructions:


          Tax Identification Number:


Name:  Nomura, with respect to the Wynn Palms Apartments Subordinate Companion Loan


          Address:  2 World Financial Center, Building B, New York, New York 10281


          Wiring Instructions:


          Tax Identification Number:


Name:  Arbor Realty, with respect to the Doubletree Hotel – Tuscon, AZ Subordinate Companion Loan


          Address:  


          Wiring Instructions:


          Tax Identification Number:


L-4









Name:  Nomura, with respect to the Quail Creek Subordinate Companion Loan


            Address:  2 World Financial Center, Building B, New York, New York 10281


            Wiring Instructions:


            Tax Identification Number:


Name:  Nomura, with respect to the Rancho Vista Apartments Subordinate Companion Loan


            Address:  2 World Financial Center, Building B, New York, New York 10281


            Wiring Instructions:


            Tax Identification Number:


L-5









EXHIBIT M


FORM OF PURCHASE OPTION NOTICE
 PURSUANT TO SECTION 3.18


[Date]

	
  
Wells Fargo Bank, N.A.
  
	
  
CMBS Department
  
	
  
9062 Old Annapolis Road
  
	
  Columbia, Maryland 21045
  





	
  
Attn:
  	
  
Corporate Trust Services - Wachovia Bank Commercial   Mortgage
  
	
  
 
  	
  
Trust, Commercial Mortgage Pass-Through   Certificates, Series 2007-C31
  





	
  
Wachovia Bank, National Association
  
	
  
NC 1075
  
	
  
8739 Research Drive URP4
  
	
  
Charlotte, North Carolina  28262-1075
  
	
  
Attn:
  	
  
Wachovia Bank Commercial Mortgage Trust, Commercial   Mortgage Pass-Through
  
	
  
 
  	
  
Certificates, Series 2007-C31
  





	
  
 
  	
  
Re
  	
  
Wachovia Bank Commercial Mortgage Trust,
  
	
  
 
  	
  
 
  	
  
Commercial Mortgage Pass-Through Certificates,   Series 2007-C31
  




Ladies and Gentlemen:


                                The undersigned hereby acknowledges that it is the holder of an assignable option (the “Purchase Option”) to purchase Mortgage Loan number ____ from the Trust Fund, pursuant to Section 3.18 of the pooling and servicing agreement (the “Pooling and Servicing Agreement”), dated as of May 1, 2007, by and among Wachovia Commercial Mortgage Securities, Inc., as Depositor, Wells Fargo Bank, N.A., as Trustee, LNR Partners, Inc., as Special Servicer, and Wachovia Bank, National Association, as Master Servicer.  Capitalized terms used herein and not otherwise defined shall have the meaning set forth in the Pooling and Servicing Agreement.


                                The undersigned Option Holder [is the Special Servicer] [is the Majority Subordinate Certificateholder] [acquired its Purchase Option from the [Special Servicer] [Majority Subordinate Certificateholder] on _________].


                                The undersigned Option Holder is exercising its Purchase Option at the cash price of $______________, which amount equals or exceeds the Option Price, as defined in Section 3.18(c) of the Pooling and Servicing Agreement.  Within ten (10) Business Days of the date hereof, [the undersigned Option Holder] [______________, an Affiliate of the undersigned Option Holder] will deliver the Option Price to or at the direction of the Special Servicer in exchange for the release of the Mortgage Loan, the related Mortgaged Property and delivery of the related Mortgage Loan File.


M-1









                                The undersigned Option Holder agrees that it shall prepare and provide the Special Servicer with such instruments of transfer or assignment, in each case without recourse, as shall be reasonably necessary to vest in it or its designee the ownership of Mortgage Loan ____, together with such other documents or instruments as the Special Servicer shall reasonably require to consummate the purchase contemplated hereby.


                                The undersigned Option Holder acknowledges and agrees that its exercise of its Purchase Option Notice may not be revoked and that the undersigned Option Holder, or its designee, shall be obligated to close its purchase of Mortgage Loan ___ in accordance with the terms and conditions of this letter and Section 3.18 of the Pooling and Servicing Agreement.

	
   
  	
  
Very truly yours,
  
	
  
 
  	
  
 
  
	
  
 
  	
  
[Option Holder]
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
____________________________________
  
	
  
 
  	
  
Name:
  	
  
 
  
	
  
 
  	
  
Title:
  	
  
 
  




                                [By signing this letter in the space provided below, the [Special Servicer] [Majority Subordinate Certificateholder] hereby acknowledges and affirms that it transferred its Purchase Option to the Option Holder identified above on [_________]. 


	
  
[________________________________________]
  	
  
 
  
	
  
 
  	
  
 
  
	
  
 
  	
  
 
  
	
  
By: 
  	
  
 
  
	
  
Name:
  	
  
 
  
	
  
Title:
  	
  
 
  




M-2









EXHIBIT N


FORM OF
 NOTICE AND CERTIFICATION
 REGARDING DEFEASANCE OF MORTGAGE LOAN

	
  
To:
  	
  
Standard & Poor’s Ratings Services,
  
	
   
  	
  
a division of The McGraw-Hill Companies, Inc.
  
	
  
 
  	
  
56 Water Street
  
	
  
 
  	
  
New York, New York    10041-0003
  
	
  
 
  	
  
Attn:  CMBS   Surveillance Group
  





	
  
From:
  	
  
Wachovia Bank, National Association, in its capacity
  
	
  
 
  	
  
as Master Servicer (the “Master Servicer”)   under the pooling and 
  
	
  
 
  	
  
servicing agreement dated as of May 1, 2007 (the “Pooling   and Servicing Agreement”),
  
	
  
 
  	
  
among the Master Servicer, Wells Fargo Bank, N.A.,   as Trustee and others.
  
	
   
  	
  
 
  
	
  
Date:
  	
  
_________, 20___
  





	
  
 
  	
  
Re:
  	
  
Wachovia Bank Commercial Mortgage Trust,
  
	
  
 
  	
  
 
  	
  
Commercial Mortgage Pass-Through Certificates 
  
	
  
 
  	
  
 
  	
  
Series 2007-C31
  




                                Mortgage Loan (the “Mortgage Loan”) identified by loan number _____ on the Mortgage Loan Schedule attached to the Pooling and Servicing Agreement and heretofore secured by the Mortgaged Properties identified on the Mortgage Loan Schedule by the following names:  


                                ____________________


                                ____________________


                                Reference is made to the Pooling and Servicing Agreement described above.  Capitalized terms used but not defined herein have the meanings assigned to such terms in the Pooling and Servicing Agreement.


                                As Master Servicer under the Pooling and Servicing Agreement, we hereby:


                                (a)          Notify you that the Mortgagor has consummated a defeasance of the Mortgage Loan pursuant to the terms of the Mortgage Loan, of the type checked below:


                                ____  a full defeasance of the entire principal balance of the Mortgage Loan; or


                                ____  a partial defeasance of a portion of the principal balance of the Mortgage Loan that represents and, an allocated loan amount of $____________ or _______% of the entire principal balance of the Mortgage Loan;


N-1









                                (b)          Certify that each of the following is true, subject to those exceptions set forth with explanatory notes on Exhibit A hereto, which exceptions the Master Servicer has determined, consistent with the Servicing Standard, will have no material adverse effect on the Mortgage Loan or the defeasance transaction:

	
  
 
  	
  
(i)
  	
  
The Mortgage Loan documents permit the defeasance,   and the terms and conditions for defeasance specified therein were satisfied   in all material respects in completing the defeasance.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
(ii)
  	
  
The defeasance was consummated on __________, 20__.
  
	
  
 
  	
  
 
  	
  
 
  
	
   
  	
  
(iii)
  	
  
The defeasance collateral consists of securities   that (i) constitute “government securities” as defined in Section 2(a)(16) of   the Investment Company Act of 1940 as amended (15 U.S.C. 80A1), (ii) are   listed as “Qualified Investments for ‘AAA’ Financings” under Paragraphs 1, 2   or 3 of “Cash Flow Approach” in Standard & Poor’s Public Finance Criteria   2000, as amended to the date of the defeasance, (iii) are rated ‘AAA’ by S&P,   (iv) if they include a principal obligation, the principal due at maturity   cannot vary or change, and (v) are not subject to prepayment, call or early   redemption.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
(iv)
  	
  
The Master Servicer received an opinion of counsel   (from counsel approved by Master Servicer in accordance with the Servicing   Standard) that the defeasance will not result in an Adverse REMIC Event.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
(v)
  	
  
The Master Servicer determined that the defeasance   collateral will be owned by an entity (the “Defeasance Obligor”) that is a   Single-Purpose Entity (as defined in Standard & Poor’s Structured Finance   Ratings Real Estate Finance Criteria, as amended to the date of the   defeasance (the “S&P Criteria”)) as of the date of the defeasance, and   after the defeasance owns no assets other than the defeasance collateral and   real property securing Mortgage Loans included in the pool.
  
	
   
  	
  
 
  	
  
 
  
	
  
 
  	
  
(vi)
  	
  
The Master Servicer received written confirmation of   the crediting of the defeasance collateral to an Eligible Account (as defined   in the S&P Criteria) in the name of the Defeasance Obligor, which account   is maintained as a securities account by a securities intermediary and has   been pledged to the Trustee.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
(vii)
  	
  
The agreements executed in connection with the   defeasance (i) grant control of the pledged securities account to the   Trustee, (ii) require the securities intermediary to make the scheduled   payments on the Mortgage Loan from the proceeds of the defeasance collateral   directly to the Servicer’s collection account in the amounts and on the dates   specified in the Mortgage Loan documents or, in a partial defeasance, the   portion of such scheduled payments attributed to the allocated loan amount   for the real property defeased, increased by any defeasance premium specified   in the Mortgage Loan documents (the “Scheduled Payments”), (iii) permit   reinvestment of proceeds of the defeasance collateral only in Permitted   Investments (as defined in the S&P Criteria), (iv) permit release of   surplus defeasance collateral and earnings on reinvestment from the pledged 
  



N-2








	
  
 
  	
  
 
  	
  
securities account only after the Mortgage Loan has   been paid in full, if any such release is permitted, (v) prohibit transfers   by the Defeasance Obligor of the defeasance collateral and subordinate liens   against the defeasance collateral, and (vi) provide for payment from sources   other than the defeasance collateral or other assets of the Defeasance   Obligor of all fees and expenses of the securities intermediary for   administering the defeasance and the securities account and all fees and   expenses of maintaining the existence of the Defeasance Obligor.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
(viii)
  	
  
The Master Servicer received written confirmation   from a firm of independent certified public accountants, who were approved by   Master Servicer in accordance with the Servicing Standard stating that (i)   revenues from the defeasance collateral (without taking into account any   earnings on reinvestment of such revenues) will be sufficient to timely pay   each of the Scheduled Payments after the defeasance including the payment in   full of the Mortgage Loan (or the allocated portion thereof in connection   with a partial defeasance) on its Maturity Date (or, in the case of an ARD   Loan, on its Anticipated Repayment Date), (ii) the revenues received in any   month from the defeasance collateral will be applied to make Scheduled   Payments within four (4) months after the date of receipt, and (iii) interest   income from the defeasance collateral to the Defeasance Obligor in any   calendar or fiscal year will not exceed such Defeasance Obligor’s interest

 expense for the Mortgage Loan (or the allocated portion thereof in a partial   defeasance) for such year.
  
	
   
  	
  
 
  	
  
 
  
	
  
 
  	
  
(ix)
  	
  
The Mortgage Loan is not among the ten (10) largest   loans in the pool.  The entire   principal balance of the Mortgage Loan as of the date of defeasance was  less than both $[______] and five percent   of the pool balance, which is less than [__]% of the aggregate Certificate   Balance of the Certificates as of the date of the most recent Trustee’s   Distribution Date Statement received by us (the “Current Report”).
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
(x)
  	
  
The defeasance described herein, together with all   prior and simultaneous defeasances of Mortgage Loans, brings the total of all   fully and partially defeased Mortgage Loans to $__________________, which is   _____% of the aggregate Certificate Balance of the Certificates as of the   date of the Current Report.
  




                                (c)          Certify that Exhibit B hereto is a list of the material agreements, instruments, organizational documents for the Defeasance Obligor, and opinions of counsel and independent accountants executed and delivered in connection with the defeasance.


                                (d)          Certify that the individual under whose hand the Master Servicer has caused this Notice and Certification to be executed did constitute a Servicing Officer as of the date of the defeasance described above.


                                (e)          Agree to provide copies of all items listed in Exhibit B to you upon request.


[SIGNATURE PAGE FOLLOWS]


N-3









                                IN WITNESS WHEREOF, the Master Servicer has caused this Notice and Certification to be executed as of the date captioned above.

	
  
 
  	
  
WACHOVIA BANK, NATIONAL ASSOCIATION
  
	
  
 
  	
  
 
  	
  
 
  
	
   
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
___________________________________
  
	
  
 
  	
  
Name:
  	
  
 
  
	
  
 
  	
  
Title:
  	
  
 
  




N-4









EXHIBIT O


FORM OF DEPOSITOR CERTIFICATION TO BE
 PROVIDED WITH FORM 10-K


Wachovia Bank Commercial Mortgage Trust,
 Commercial Mortgage Pass-Through Certificates
 Series 2007-C31 (the “Trust Fund”)


                     I, [identify the certifying individual], a [title] of Wachovia Commercial Mortgage Securities, Inc., the depositor into the above-referenced Trust Fund, certify that:

	
   
  	
  
          1.          I   have reviewed this annual report on Form 10-K, and all reports on Form 10-D   required to be filed in respect of periods included in the year covered by   this annual report, of the Trust Fund;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          2.          Based   on my knowledge, the Exchange Act periodic reports, taken as a whole, do not   contain any untrue statement of a material fact or omit to state a material   fact necessary to make the statements made, in light of the circumstances   under which such statements were made, not misleading with respect to the   period covered by this annual report;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          3.          Based   on my knowledge, all of the distribution, servicing and other information   required to be provided on Form 10-D for the period covered by this report is   included in the Exchange Act periodic reports;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          4.          Based   on my knowledge and the servicer compliance statements required in this   report under Item 1123 of Regulation AB, and except as disclosed in the   Exchange Act periodic reports, the servicers have fulfilled their obligations   under the pooling and servicing agreement; and
  
	
   
  	
  
 
  
	
  
 
  	
  
          5.          All   of the reports on assessment of compliance with servicing criteria for   asset-backed securities and their related attestation reports on assessment   of compliance with servicing criteria for asset-backed securities required to   be included in this report in accordance with Item 1122 of Regulation AB and   Exchange Act Rules 13a-18 and 15d-18 have been included as an exhibit to this   report, except as otherwise disclosed in this report.  Any material instances of noncompliance   described in such reports have been disclosed in this report on Form 10-K.
  




O-1









                     In giving the certifications above, I have reasonably relied on information provided to me by the following unaffiliated parties:  LNR Partners, Inc. and Wells Fargo Bank, N.A.


Date: _________________________________

	
  
__________________________________________
  	
  
 
  
	
  
President and Chief Executive Officer
  	
  
 
  
	
  Wachovia Commercial Mortgage Securities, Inc.
  	
  
 
  




O-2









EXHIBIT P


FORM OF CERTIFICATION TO BE PROVIDED TO DEPOSITOR
 BY THE TRUSTEE


Wachovia Bank Commercial Mortgage Trust,
 Commercial Mortgage Pass-Through Certificates
 Series 2007-C31 (the “Trust Fund”)


                     I, [identify the certifying individual], a [title] of Wells Fargo Bank, N.A., certify to Wachovia Commercial Mortgage Securities, Inc. and their officers, directors and affiliates, and with the knowledge and intent that they will rely upon this certification in delivering the Certification required by the pooling and servicing agreement relating to the Certificates (capitalized terms used herein without definition shall have the meanings assigned to such terms in the pooling and servicing agreement), that:

	
  
 
  	
  
          1.          I   have reviewed this annual report on Form 10-K, and all reports on Form 10-D   required to be filed in respect of the period included in the year covered by   this annual report, of the Trust Fund;
  
	
  
 
  	
  
 
  
	
   
  	
  
          2.          Based   on my knowledge, the distribution information in these reports, taken as a   whole, does not contain any untrue statement of a material fact or omit to   state a material fact necessary to make the statements made, in light of the   circumstances under which such statements were made, not misleading with   respect to the period covered by this report;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          3.          Based   on my knowledge, the distribution and servicing information required to be   provided to the trustee by the master servicer under the pooling and   servicing agreement is included in the reports delivered by the master   servicer to the trustee;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          4.          I   am responsible for reviewing the activities performed by the trustee and   based on my knowledge and the compliance reviews conducted in preparing the   trustee compliance statements required for inclusion on Form 10-K pursuant to   Item 1123 of Regulation AB, and except as disclosed on any Form 10-D or 10-K,   the trustee has fulfilled its obligations in all material respects under the   pooling and servicing agreement; and
  
	
   
  	
  
 
  
	
  
 
  	
  
          5.          All   of the reports on assessment of compliance with servicing criteria for   asset-backed securities and their related attestation reports on assessment   of compliance with servicing criteria for asset-backed securities with respect   to the trustee required to be included in Form 10-K in accordance with Item   1122 of Regulation AB and Exchange Act Rules 13a-18 and 15d-18 have been   included as an exhibit to Form 10-K, except as otherwise disclosed in Form   10-K.  Any material instances of   noncompliance described in such reports have been disclosed in such report on   Form 10-K.
  




P-1









Date: _________________________________

	
  
_________________________________
  	
  
 
  
	
  
[Title]
  	
  
 
  
	
  
Wells Fargo Bank, N.A.
  	
  
 
  




P-2









EXHIBIT Q-1


FORM OF MASTER SERVICER CERTIFICATION TO BE
 PROVIDED TO THE DEPOSITOR


Wachovia Bank Commercial Mortgage Trust,
 Commercial Mortgage Pass-Through Certificates
 Series 2007-C31 (the “Trust Fund”)


                     I, [identify the certifying individual], a [title] of Wachovia Bank, National Association, certify to Wachovia Commercial Mortgage Securities, Inc. and their officers, directors and affiliates, and with the knowledge and intent that they will rely upon this certification (capitalized terms used herein without definition shall have the meanings assigned to such terms in the Pooling and Servicing Agreement), that:

	
  
 
  	
  
          1.          I   have reviewed the servicing reports relating to the Trust Fund delivered by   the master servicer to the trustee pursuant to the Pooling and Servicing   Agreement covering the fiscal year [_____];
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          2.          Based   on my knowledge, (a) assuming the accuracy of the statements required to be   made in the corresponding certificate of the special servicer pursuant to   Section 8.17(n) of the Pooling and Servicing Agreement and (b) assuming that   the information regarding the Mortgage Loans, the Mortgagors or the Mortgaged   Properties in the Prospectus (the “Mortgage Information”) does not   contain any untrue statement of a material fact or omit to state a material   fact necessary to make the statements made, in the light of the circumstances   under which such statements were made, not misleading (but only to the extent   that such Mortgage Information is or shall be used by the servicer to prepare   the servicing reports, provided, however, the servicer   shall provide any information of which the servicer has
knowledge, to the   extent such information updates the Mortgage Information and is required to   be provided by the servicer pursuant to the Pooling and Servicing Agreement),   the servicing information reports, taken as a whole, does not contain any   untrue statement of a material fact or omit to state a material fact   necessary to make the statements made, in light of the circumstances under   which such statements were made, not misleading with respect to the period   covered by this report;
  
	
   
  	
  
 
  
	
  
 
  	
  
          3.          Based   on my knowledge, and assuming the accuracy of the statements required to be   made in the corresponding certificate of the special servicer pursuant to   Section 8.17(n) of the Pooling and Servicing Agreement and assuming that the   special servicer timely delivered to the master servicer all servicing   information required to be provided to the master servicer by the special   servicer under the Pooling and Servicing Agreement, the servicing information   required to be provided to the trustee by the master servicer under the   Pooling and Servicing Agreement is included in the servicing reports   delivered by the master servicer to the trustee;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          4.          I   am responsible for reviewing the activities performed by the master servicer   under the Pooling and Servicing Agreement and based upon my knowledge and the   annual compliance reviews conducted in preparing the servicer compliance 
  




Q-1-1








	
   
  	
  
statements required in this report under Item 1123   of Regulation AB with respect to the master servicer, and except as disclosed   in the compliance certificate delivered by the master servicer under Section   3.13 of the Pooling and Servicing Agreement, the master servicer has   fulfilled its obligations under the Pooling and Servicing Agreement in all   material respects;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          5.          The   accountant’s statement delivered pursuant to Section 3.14 of the Pooling and   Servicing Agreement discloses all significant deficiencies relating to the   master servicer’s compliance with the minimum servicing standards based upon   the report provided by an independent public accountant, after conducting a   review in compliance with the Uniform Single Attestation Program for Mortgage   Bankers or similar procedure, as set forth in the Pooling and Servicing   Agreement; and
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          6.          All   of the reports on assessment of compliance with servicing criteria for   asset-backed securities and their related attestation reports on assessment   of compliance with servicing criteria for asset-backed securities with   respect to the master servicer have been provided as required by the Pooling   and Servicing Agreement, except as otherwise disclosed in the servicing   reports.  Any material instances of   noncompliance described in such reports have been disclosed in this report on   Form 10-K.
  
	
   
  	
  
 
  
	
  
 
  	
  
          7.          If   this certification is delivered by the Master Servicer, add: In addition,   notwithstanding the foregoing certifications under clauses (2) and (3) above,   the Master Servicer does not make any certification under such clauses (2)   and (3) above with respect to the information in the servicing reports   delivered by the Master Servicer to the Trustee referred to in such clauses   (2) and (3) above that is in turn dependent upon information provided by the   Special Servicer under the Pooling and Servicing Agreement beyond the   corresponding certification actually provided by the Special Servicer   pursuant to Section 8.17(n) of the Pooling and Servicing Agreement. Further,   notwithstanding the foregoing certifications, the Master Servicer does not   make any certification under the foregoing clauses (1) through (5) that is in   turn
dependent (i) upon information required to be provided by any   Sub-Servicer acting under a Sub-Servicing Agreement that the Master Servicer   entered into in connection with the issuance of the Certificates, or upon the   performance by any such Sub-Servicer of its obligations pursuant to any such   Sub-Servicing Agreement, in each case beyond the respective backup   certifications actually provided by such Sub-Servicer to the Master Servicer   with respect to the information that is the subject of such certification, or   (ii) upon information required to be provided by the Non-Serviced Mortgage   Loan Servicer or upon the performance by the Non-Serviced Mortgage Loan   Servicer of its obligations pursuant to the Non-Serviced Mortgage Loan   Pooling and Servicing Agreement, in each case beyond the backup certification   actually provided by the Non-Serviced Mortgage Loan Servicer to the Master   Servicer with respect to the information that is the subject of such   certification; provided that this
clause (ii) shall not apply in the event   the Master Servicer is, or is an Affiliate of, the Non-Serviced Mortgage Loan   Servicer.
  
	
   
  	
  
 
  
	
  
 
  	
  
          If   this certification is delivered by a Sub-Servicer retained by the Master   Servicer, add: In addition, notwithstanding the foregoing certifications   under clauses (2) and (3) above, the Master Servicer does not make any   certification under such clauses (2) and (3) 
  




Q-1-2








	
  
 
  	
  
above with respect to the information in the   servicing reports delivered by the Master Servicer to the Trustee referred to   in such clauses (2) and (3) above that is in turn dependent upon information   provided by the Special Servicer under the Pooling and Servicing Agreement   beyond the corresponding certification actually provided by the Special   Servicer pursuant to Section 8.17(n) of the Pooling and Servicing Agreement.
  




                     In giving the certification above, I have reasonably relied on information provided to me by the following unaffiliated parties:  [names of sub-servicers].


Date: __________________________

	
  _______________________________
  	
  
 
  
	
  
[Title]
  	
  
 
  
	
  
Wachovia Bank, National Association
  	
  
 
  




Q-1-3









EXHIBIT Q-2


FORM OF SPECIAL SERVICER CERTIFICATION TO BE 
 PROVIDED TO DEPOSITOR


Wachovia Bank Commercial Mortgage Trust,
 Commercial Mortgage Pass-Through Certificates
 Series 2007-C31 (the “Trust Fund”)


                     I, [identify the certifying individual], a [title] of LNR Partners, Inc., certify to Wachovia Commercial Mortgage Securities, Inc. and their officers, directors and affiliates, and with the knowledge and intent that they will rely upon this certification (capitalized terms used herein without definition shall have the meanings assigned to such terms in the pooling and servicing agreement), that:

	
  
 
  	
  
          1.          I   have reviewed the servicing reports relating to the Trust Fund delivered by   the special servicer to the depositor pursuant to Section 3.13 of the pooling   and servicing agreement covering the fiscal year [____];
  
	
   
  	
  
 
  
	
  
 
  	
  
          2.          Based   on my knowledge, the servicing information in these reports delivered by the   special servicer, taken as a whole, does not contain any untrue statement of   a material fact or omit to state a material fact necessary to make the   statements made, in light of the circumstances under which such statements   were made, not misleading with respect to the period covered by such reports;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          3.          Based   on my knowledge, the servicing information required to be provided under   Section 3.13 of the pooling and servicing agreement is included in such   servicing reports delivered by the special servicer to the depositor;
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          4.          I   am responsible for reviewing the activities performed by the special servicer   under the pooling and servicing agreement and based upon my knowledge and the   annual compliance reviews conducted in preparing the servicer compliance   statements required in such reports under Item 1123 of Regulation AB with   respect to the special servicer, and except as disclosed in the compliance certificate   delivered by the special servicer under Section 3.13 of the pooling and   servicing agreement, the special servicer has fulfilled its obligations under   the pooling and servicing agreement in all material respects;
  
	
   
  	
  
 
  
	
  
 
  	
  
          5.          The   accountant’s statement delivered pursuant to Section 3.14 of the pooling and   servicing agreement discloses all significant deficiencies relating to the   special servicer’s compliance with the minimum servicing standards based upon   the report provided by an independent public accountant, after conducting a   review in compliance with the Uniform Single Attestation Program for Mortgage   Bankers or similar procedure, as set forth in the pooling and servicing   agreement; and
  
	
  
 
  	
  
 
  
	
  
 
  	
  
          6.          All   of the reports on assessment of compliance with servicing criteria for   asset-backed securities and their related attestation reports on assessment   of compliance 
  




Q-2-1








	
  
 
  	
  
with servicing criteria for asset-backed securities   with respect to the special servicer required to be delivered by the special   servicer under the pooling and servicing agreement in accordance with Item   1122 of Regulation AB and Exchange Act Rules 13a-18 and 15d-18 have been   delivered pursuant to the terms of the pooling and servicing agreement.  Any material instances of noncompliance   with the servicing criteria have been disclosed in such reports.
  



Date: ___________________________

	
  
________________________________
  	
  
 
  
	
  
[Title]
  	
  
 
  
	
  
LNR Partners, Inc.
  	
  
 
  




Q-2-2









EXHIBIT R


CLASS A-PB PLANNED PRINCIPAL BALANCE SCHEDULE

	
  Period
  	
   
 	
  
Date
  	
   
 	
  
Balance   ($)
  	
   
 	
  
Period
  	
   
 	
  
Date
  	
   
 	
  
Balance   ($)
  	
  
 
  
	
 
 	
   
 	
 
 	
   
 	
 
	
   
 	

	
   
 	
 
 	
   
 	
  
	
  
 
  
	
  
0
  	
  
 
  	
  
5/23/07
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
58
  	
  
 
  	
  
03/15/12
  	
  
 
  	
  
85,404,000.00
  	
  
 
  
	
  1
  	
  
 
  	
  
06/15/07
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
59
  	
  
 
  	
  
04/15/12
  	
  
 
  	
  
85,404,000.00
  	
  
 
  
	
  
2
  	
  
 
  	
  
07/15/07
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
60
  	
  
 
  	
  
05/15/12
  	
  
 
  	
  
85,403,304.54
  	
  
 
  
	
  3
  	
  
 
  	
  
08/15/07
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
61
  	
  
 
  	
  
06/15/12
  	
  
 
  	
  
83,965,846.50
  	
  
 
  
	
  
4
  	
  
 
  	
  
09/15/07
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
62
  	
  
 
  	
  
07/15/12
  	
  
 
  	
  
82,306,941.03
  	
  
 
  
	
  5
  	
  
 
  	
  
10/15/07
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
63
  	
  
 
  	
  
08/15/12
  	
  
 
  	
  
80,853,931.50
  	
  
 
  
	
  
6
  	
  
 
  	
  
11/15/07
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
64
  	
  
 
  	
  
09/15/12
  	
  
 
  	
  
79,393,624.05
  	
  
 
  
	
  7
  	
  
 
  	
  
12/15/07
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
65
  	
  
 
  	
  
10/15/12
  	
  
 
  	
  
77,712,495.06
  	
  
 
  
	
  
8
  	
  
 
  	
  
01/15/08
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
66
  	
  
 
  	
  
11/15/12
  	
  
 
  	
  
76,236,409.48
  	
  
 
  
	
  9
  	
  
 
  	
  
02/15/08
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
67
  	
  
 
  	
  
12/15/12
  	
  
 
  	
  
74,539,934.55
  	
  
 
  
	
  
10
  	
  
 
  	
  
03/15/08
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
68
  	
  
 
  	
  
01/15/13
  	
  
 
  	
  
73,047,914.32
  	
  
 
  
	
  11
  	
  
 
  	
  
04/15/08
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
69
  	
  
 
  	
  
02/15/13
  	
  
 
  	
  
71,548,400.02
  	
  
 
  
	
  
12
  	
  
 
  	
  
05/15/08
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
70
  	
  
 
  	
  
03/15/13
  	
  
 
  	
  
69,404,706.46
  	
  
 
  
	
  13
  	
  
 
  	
  
06/15/08
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
71
  	
  
 
  	
  
04/15/13
  	
  
 
  	
  
67,886,893.86
  	
  
 
  
	
  
14
  	
  
 
  	
  
07/15/08
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
72
  	
  
 
  	
  
05/15/13
  	
  
 
  	
  
66,149,834.89
  	
  
 
  
	
  15
  	
  
 
  	
  
08/15/08
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
73
  	
  
 
  	
  
06/15/13
  	
  
 
  	
  
64,615,673.75
  	
  
 
  
	
  
16
  	
  
 
  	
  
09/15/08
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
74
  	
  
 
  	
  
07/15/13
  	
  
 
  	
  
62,862,714.06
  	
  
 
  
	
  17
  	
  
 
  	
  
10/15/08
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
75
  	
  
 
  	
  
08/15/13
  	
  
 
  	
  
61,312,042.21
  	
  
 
  
	
  
18
  	
  
 
  	
  
11/15/08
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
76
  	
  
 
  	
  
09/15/13
  	
  
 
  	
  
59,753,581.34
  	
  
 
  
	
  19
  	
  
 
  	
  
12/15/08
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
77
  	
  
 
  	
  
10/15/13
  	
  
 
  	
  
57,976,987.53
  	
  
 
  
	
  
20
  	
  
 
  	
  
01/15/09
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
78
  	
  
 
  	
  
11/15/13
  	
  
 
  	
  
56,401,774.90
  	
  
 
  
	
  21
  	
  
 
  	
  
02/15/09
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
79
  	
  
 
  	
  
12/15/13
  	
  
 
  	
  
54,608,888.18
  	
  
 
  
	
  
22
  	
  
 
  	
  
03/15/09
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
80
  	
  
 
  	
  
01/15/14
  	
  
 
  	
  
53,016,757.62
  	
  
 
  
	
  23
  	
  
 
  	
  
04/15/09
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
81
  	
  
 
  	
  
02/15/14
  	
  
 
  	
  
51,416,629.54
  	
  
 
  
	
  
24
  	
  
 
  	
  
05/15/09
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
82
  	
  
 
  	
  
03/15/14
  	
  
 
  	
  
49,181,602.05
  	
  
 
  
	
  25
  	
  
 
  	
  
06/15/09
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
83
  	
  
 
  	
  
04/15/14
  	
  
 
  	
  
47,563,514.96
  	
  
 
  
	
  
26
  	
  
 
  	
  
07/15/09
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
84
  	
  
 
  	
  
05/15/14
  	
  
 
  	
  
46,081,164.18
  	
  
 
  
	
  27
  	
  
 
  	
  
08/15/09
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
85
  	
  
 
  	
  
06/15/14
  	
  
 
  	
  
44,759,416.56
  	
  
 
  
	
  
28
  	
  
 
  	
  
09/15/09
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
86
  	
  
 
  	
  
07/15/14
  	
  
 
  	
  
43,248,669.32
  	
  
 
  
	
  29
  	
  
 
  	
  
10/15/09
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
87
  	
  
 
  	
  
08/15/14
  	
  
 
  	
  
41,912,621.24
  	
  
 
  
	
  
30
  	
  
 
  	
  
11/15/09
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
88
  	
  
 
  	
  
09/15/14
  	
  
 
  	
  
40,569,826.69
  	
  
 
  
	
  31
  	
  
 
  	
  
12/15/09
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
89
  	
  
 
  	
  
10/15/14
  	
  
 
  	
  
39,038,608.47
  	
  
 
  
	
  
32
  	
  
 
  	
  
01/15/10
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
90
  	
  
 
  	
  
11/15/14
  	
  
 
  	
  
37,681,303.56
  	
  
 
  
	
  33
  	
  
 
  	
  
02/15/10
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
91
  	
  
 
  	
  
12/15/14
  	
  
 
  	
  
36,135,972.06
  	
  
 
  
	
  
34
  	
  
 
  	
  
03/15/10
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
92
  	
  
 
  	
  
01/15/15
  	
  
 
  	
  
34,764,012.08
  	
  
 
  
	
  35
  	
  
 
  	
  
04/15/10
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
93
  	
  
 
  	
  
02/15/15
  	
  
 
  	
  
33,385,124.08
  	
  
 
  
	
  
36
  	
  
 
  	
  
05/15/10
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
94
  	
  
 
  	
  
03/15/15
  	
  
 
  	
  
31,457,854.31
  	
  
 
  
	
  37
  	
  
 
  	
  
06/15/10
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
95
  	
  
 
  	
  
04/15/15
  	
  
 
  	
  
30,062,277.99
  	
  
 
  
	
  
38
  	
  
 
  	
  
07/15/10
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
96
  	
  
 
  	
  
05/15/15
  	
  
 
  	
  
28,453,098.83
  	
  
 
  
	
  39
  	
  
 
  	
  
08/15/10
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
97
  	
  
 
  	
  
06/15/15
  	
  
 
  	
  
27,019,803.32
  	
  
 
  
	
  
40
  	
  
 
  	
  
09/15/10
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
98
  	
  
 
  	
  
07/15/15
  	
  
 
  	
  
25,395,762.70
  	
  
 
  
	
  41
  	
  
 
  	
  
10/15/10
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
99
  	
  
 
  	
  
08/15/15
  	
  
 
  	
  
23,947,035.22
  	
  
 
  
	
  
42
  	
  
 
  	
  
11/15/10
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
100
  	
  
 
  	
  
09/15/15
  	
  
 
  	
  
22,490,994.03
  	
  
 
  
	
  43
  	
  
 
  	
  
12/15/10
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
101
  	
  
 
  	
  
10/15/15
  	
  
 
  	
  
20,844,830.20
  	
  
 
  
	
  
44
  	
  
 
  	
  
01/15/11
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
102
  	
  
 
  	
  
11/15/15
  	
  
 
  	
  
19,373,130.26
  	
  
 
  
	
  45
  	
  
 
  	
  
02/15/11
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
103
  	
  
 
  	
  
12/15/15
  	
  
 
  	
  
17,711,736.21
  	
  
 
  
	
  
46
  	
  
 
  	
  
03/15/11
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
104
  	
  
 
  	
  
01/15/16
  	
  
 
  	
  
16,224,221.41
  	
  
 
  
	
  47
  	
  
 
  	
  
04/15/11
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
105
  	
  
 
  	
  
02/15/16
  	
  
 
  	
  
14,729,196.85
  	
  
 
  
	
  
48
  	
  
 
  	
  
05/15/11
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
106
  	
  
 
  	
  
03/15/16
  	
  
 
  	
  
12,863,608.43
  	
  
 
  
	
  49
  	
  
 
  	
  
06/15/11
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
107
  	
  
 
  	
  
04/15/16
  	
  
 
  	
  
11,351,622.63
  	
  
 
  
	
  
50
  	
  
 
  	
  
07/15/11
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
108
  	
  
 
  	
  
05/15/16
  	
  
 
  	
  
9,651,045.22
  	
  
 
  
	
  51
  	
  
 
  	
  
08/15/11
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
109
  	
  
 
  	
  
06/15/16
  	
  
 
  	
  
8,122,842.91
  	
  
 
  
	
  
52
  	
  
 
  	
  
09/15/11
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
110
  	
  
 
  	
  
07/15/16
  	
  
 
  	
  
6,406,492.79
  	
  
 
  
	
  53
  	
  
 
  	
  
10/15/11
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
111
  	
  
 
  	
  
08/15/16
  	
  
 
  	
  
4,861,912.29
  	
  
 
  
	
  
54
  	
  
 
  	
  
11/15/11
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
112
  	
  
 
  	
  
09/15/16
  	
  
 
  	
  
3,309,533.59
  	
  
 
  
	
  55
  	
  
 
  	
  
12/15/11
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
113
  	
  
 
  	
  
10/15/16
  	
  
 
  	
  
1,569,668.71
  	
  
 
  
	
  
56
  	
  
 
  	
  
01/15/12
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
114
  	
  
 
  	
  
11/15/16
  	
  
 
  	
  
670.76
  	
  
 
  
	
  57
  	
  
 
  	
  
02/15/12
  	
  
 
  	
  
85,404,000.00
  	
  
 
  	
  
115
  	
  
 
  	
  
12/15/16
  	
  
 
  	
  
0
  	
  
 
  




R-1









EXHIBIT S


RELEVANT SERVICING CRITERIA


SERVICING CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE


The assessment of compliance to be delivered by the Trustee, the Master Servicer, the Special Servicer and each Sub-Servicer identified by the Master Servicer or the Special Servicer shall address, at a minimum, the criteria identified below as applicable to each Reporting Servicer:

	
   
 	
   
 	
  SERVICING CRITERIA
  	
   
 	
   
 
	
  


  
	
  
Reference
  	
   
 	
  
Criteria
  	
   
 	
  
Reporting Servicer
  
	
  


  	
   
 	
  


  	
   
 	
  


  
	
   
 	
   
 	
  
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.
  	
  
 
  	
  
Master   Servicer
   Special Servicer
Trustee
  
	
   
 	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
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.
  	
  
 
  	
  
Master   Servicer
   Special Servicer
   Trustee
  
	
   
 	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  1122(d)(1)(iii)
  	
  
 
  	
  
Any requirements in the transaction agreements to   maintain a back-up servicer for the mortgage loans are maintained.
  	
  
 
  	
  
 
  
	
   
 	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
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.
  	
  
 
  	
  
Master   Servicer
   Special Servicer
  
	
   
 	
  
 
  	
  
 
  	
  
 
  	
   
 
	
   
 	
   
 	
  Cash Collection and Administration
  	
  
 
  	
  
 
  
	
   
 	
   
 	
   
 	
  
 
  	
  
 
  
	
  
1122(d)(2)(i)
  	
  
 
  	
  
Payments on mortgage loans 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.
  	
  
 
  	
  
Master   Servicer
   Special Servicer
   Trustee
  
	
   
 	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
1122(d)(2)(ii)
  	
  
 
  	
  
Disbursements made via wire transfer on behalf of an   obligor or to an investor are made only by authorized personnel.
  	
  
 
  	
  
Trustee
  
	
   
 	
   
  	
  
 
  	
  
 
  	
   
 
	
  
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.
  	
  
 
  	
  
Master   Servicer
   Special Servicer
   Trustee
  
	
   
 	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
1122(d)(2)(iv)
  	
  
 
  	
  
The related accounts for the transaction, such as   cash reserve accounts or accounts established as a form of   overcollateralization, are separately maintained (e.g., with respect to   commingling of cash) as set forth in the transaction agreements.
  	
  
 
  	
  
Master   Servicer
   Special Servicer
   Trustee
  
	
   
 	
   
  	
  
 
  	
  
 
  	
   
 
	
  
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.
  	
  
 
  	
  
Master   Servicer
   Special Servicer
   Trustee
  
	
   
 	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
1122(d)(2)(vi)
  	
  
 
  	
  
Unissued checks are safeguarded so as to prevent   unauthorized access.
  	
  
 
  	
  
Master   Servicer 
   Special Servicer
   Trustee
  
	
   
 	
   
  	
  
 
  	
  
 
  	
   
 
	
  
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.
  	
  
 
  	
  
Trustee
   Master Servicer
   Special Servicer
  




S-1








	
   
 	
   
  	
  
SERVICING CRITERIA
  	
  
 
  	
   
 
	
  


  
	
  
Reference
  	
   
 	
  
Criteria
  	
   
 	
  
Reporting Servicer
  
	
  


  	
  
 
  	
  


  	
  
 
  	
  


  
	
   
 	
   
 	
  
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 mortgage loans serviced by the Reporting Servicer.
  	
  
 
  	
  
Trustee
  
	
   
 	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
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.
  	
  
 
  	
  
Trustee
  
	
   
 	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  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.
  	
  
 
  	
  
Trustee
  
	
   
 	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
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.
  	
  
 
  	
  
Trustee
  
	
   
 	
  
 
  	
  
 
  	
  
 
  	
   
 
	
   
 	
   
 	
  
Pool Asset Administration
  	
  
 
  	
  
 
  
	
   
 	
   
 	
   
 	
   
  	
  
 
  
	
  
1122(d)(4)(i)
  	
  
 
  	
  
Collateral or security on mortgage loans is   maintained as required by the transaction agreements or related mortgage loan   documents.
  	
  
 
  	
  
Trustee
   Master Servicer
   Special Servicer
  
	
   
 	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
1122(d)(4)(ii)
  	
  
 
  	
  
Mortgage loan and related documents are safeguarded   as required by the transaction agreements
  	
  
 
  	
  
Trustee
   Special Servicer
  
	
   
 	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  1122(d)(4)(iii)
  	
  
 
  	
  
Any additions, removals or substitutions to the   mortgage loan pool are made, reviewed and approved in accordance with any   conditions or requirements in the transaction agreements.
  	
  
 
  	
  
Trustee
   Special Servicer
  
	
   
 	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
1122(d)(4)(iv)
  	
  
 
  	
  
Payments on mortgage loans, including any payoffs,   made in accordance with the related mortgage loan 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 mortgage loan documents.
  	
  
 
  	
  
Master   Servicer
  
	
   
 	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  1122(d)(4)(v)
  	
  
 
  	
  
The Reporting Servicer’s records regarding the   mortgage loans agree with the Reporting Servicer’s records with respect to an   obligor’s unpaid principal balance.
  	
  
 
  	
  
Master   Servicer
  
	
   
 	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
1122(d)(4)(vi)
  	
  
 
  	
  
Changes with respect to the terms or status of an   obligor’s mortgage loans (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.
  	
  
 
  	
  
Master   Servicer
   Special Servicer
  
	
   
 	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  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.
  	
  
 
  	
  
Special   Servicer
  
	
   
 	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
1122(d)(4)(viii)
  	
  
 
  	
  
Records documenting collection efforts are   maintained during the period a mortgage loan 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 mortgage loans   including, for example, phone calls, letters and payment rescheduling plans   in cases where delinquency is deemed temporary (e.g., illness or   unemployment).
  	
  
 
  	
  
Master   Servicer
   Special Servicer
  
	
   
 	
   
  	
  
 
  	
  
 
  	
   
 
	
  
1122(d)(4)(ix)
  	
  
 
  	
  
Adjustments to interest rates or rates of return for   mortgage loans with variable rates are computed based on the related mortgage   loan documents.
  	
  
 
  	
  
Master   Servicer
  




S-2








	
   
 	
  
 
  	
  
SERVICING CRITERIA
  	
  
 
  	
   
 
	
  


  
	
  Reference
  	
   
 	
  
Criteria
  	
   
 	
  
Reporting Servicer
  
	
  


  	
  
 
  	
  


  	
  
 
  	
  


  
	
  
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 mortgage loan 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   mortgage loan documents and state laws; and (C) such funds are returned to   the obligor within 30 calendar days of full repayment of the related mortgage   loans, or such other number of days specified in the transaction agreements.
  	
  
 
  	
  
Master   Servicer
  
	
   
 	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  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.
  	
  
 
  	
  
Master   Servicer
  
	
   
 	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
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.
  	
  
 
  	
  
Master   Servicer
  
	
   
 	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  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.
  	
  
 
  	
  
Master   Servicer
  
	
   
 	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
1122(d)(4)(xiv)
  	
  
 
  	
  
Delinquencies, charge-offs and uncollectible   accounts are recognized and recorded in accordance with the transaction   agreements.
  	
  
 
  	
  
Master   Servicer
  
	
   
 	
  
 
  	
  
 
  	
  
 
  	
   
 
	
  
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.
  	
  
 
  	
  
N/A
  



 

	
  
[NAME OF REPORTING SERVICER]
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Date:
  	
  
 
  	
  
 
  
	
  
 
  	
  


  	
  
 
  
	
  
By:
  	
  
 
  	
  
 
  
	
  
 
  	
  


  	
  
 
  
	
  Name:
  	
  
 
  	
  
 
  
	
  
 
  	
  


  	
  
 
  
	
  
Title:
  	
  
 
  	
  
 
  
	
  
 
  	
  


  	
  
 
  




S-3









EXHIBIT T


CLASS IO REFERENCE RATE SCHEDULE


RESERVED.


T-1









EXHIBIT U


ADDITIONAL FORM 10-D DISCLOSURE

	
  Item on Form 10-D
  	
   
 	
  
Party Responsible
  
	
  


  	 	
  

  
	
  
Item   1: Distribution and Pool Performance Information Any information required by 1121 which is   NOT included on the Distribution Date Statement
  	
   
 	
  
Master   Servicer (only with respect to Item 1121(a)(12) and solely with respect to   non-Specially Serviced Mortgage Loans) Special Servicer (only with respect to   Item 1121(a)(12) and solely with respect to Specially Serviced Mortgage   Loans) Trustee
  
	
  
Item   2: Legal Proceedings per Item 1117 of Regulation AB (to the extent material   to Certificateholders)
  	
   
 	
  
(i)   All parties to the Pooling and Servicing Agreement (as to themselves), (ii)   the Trustee, the Master Servicer and the Special Servicer as to the Wachovia   Bank Commercial Mortgage Trust, Commercial Mortgage Pass-Through   Certificates, Series 2007-C31 (in the case of the Master Servicer and the   Special Servicer, to be reported by the party controlling litigation pursuant   to Section 3.30 of the Pooling and Servicing Agreement), (iii) the Depositor   as to the sponsors, any 1110(b) originator and any 1100(d)(1) party
  
	
  
Item   3: Sale of Securities and Use of Proceeds
  	
   
 	
  
Depositor
  
	
  
Item   4: Defaults Upon Senior Certificates
  	
   
 	
  
Trustee
  
	
  Item   5: Submission of Matters to a Vote of Certificateholders
  	
   
 	
  
Trustee
  
	
  
Item   6: Significant Obligors of Pool Assets
  	
   
 	
  
Depositor   Master Servicer
  
	
  
Item   7: Significant Enhancement Provider Information
  	
   
 	
  
Depositor
  
	
  
Item   8: Other Information (information required to be disclosed on Form 8-K that   was not properly disclosed)
  	
   
 	
  
Any   party responsible for disclosure items on Form 8-K to the extent of such   items
  
	
  
Item   9: Exhibits
  	
   
 	
  
Trustee
  




U-1









EXHIBIT V


ADDITIONAL DISCLOSURE NOTIFICATION


**SEND VIA FAX TO (410) 715-2380 AND VIA EMAIL TO WELLS FARGO BANK, N.A. AT ets.sec.notifications@wellsfargo.com AND VIA OVERNIGHT MAIL TO WELLS FARGO AND WACHOVIA AT THE ADDRESSES IMMEDIATELY BELOW**


	
  
Wells Fargo Bank, N.A.
  
	
  
CMBS Department
  
	
  
9062 Old Annapolis Road
  
	
  
Columbia, Maryland 21045
  
	
  
Attn:
  	
  
Corporate Trust Services - Wachovia Bank Commercial   Mortgage
  
	
  
 
  	
  
Trust, Commercial Mortgage Pass-Through   Certificates, Series 2007-C31
  




 

	
  
Wachovia Commercial Mortgage Securities, Inc.
  
	
  
301 South College Street
  
	
  
Charlotte, North Carolina 28288
  
	
  
Attention: Charles Culbreth, Managing Director
  




RE:  **Additional Form [10-D][10-K][8-K] Disclosure** Required


Ladies and Gentlemen:


                               In accordance with Section [8.17(i)][8.17(j)][8.17(k)] of the pooling and servicing agreement, dated as of May 1, 2007 (the “Pooling and Servicing Agreement”), by and among Wachovia Commercial Mortgage Securities, Inc., as Depositor, Wachovia Bank, National Association, as Master Servicer, LNR Partners, Inc., as Special Servicer, and Wells Fargo Bank, N.A., as Trustee.  The undersigned, as [          ], hereby notifies you that certain events have come to our attention that [will] [may] need to be disclosed on Form [10-D][10-K][8-K].


Description of Additional Form [10-D][10-K][8-K] Disclosure:


List of any Attachments hereto to be included in the Additional Form [10-D][10-K][8-K] Disclosure:


                                Any inquiries related to this notification should be directed to [                       ], phone number:  [         ]; email address:  [                   ].  


V-1








	
  
 
  	
  
[NAME OF PARTY],
  
	
   
  	
  
          as   [role]
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
By:
  	
  
____________________________________
  
	
  
 
  	
  
Name:
  	
  
 
  
	
  
 
  	
  
Title:
  	
  
 
  




 

	
  
cc:
  	
  
Depositor
  



V-2









EXHIBIT W


ADDITIONAL FORM 10-K DISCLOSURE

	
  
Item on Form 10-K
  	
   
 	
  
Party Responsible
  
	
  


  	 	
  

  
	
  
Item   1B: Unresolved Staff Comments
  	
  
 
  	
  
Depositor
  
	
  
Item   9B: Other Information (information required to be disclosed on Form 8-K that   was not properly disclosed)
  	
  
 
  	
  
Any   party responsible for disclosure items on Form 8-K to the extent of such   items
  
	
  
Item   15: Exhibits, Financial Statement Schedules
  	
  
 
  	
  
Trustee
  
	
  
Additional   Item: 
   Disclosure per Item 1117 of   Reg AB
   (to the extent material to Certificateholders)
  	
  
 
  	
  
(i)   All parties to the Pooling and Servicing Agreement (as to themselves), (ii)   the Trustee, the Master Servicer and the Special Servicer as to the Wachovia   Bank Commercial Mortgage Trust, Commercial Mortgage Pass-Through   Certificates, Series 2007-C31 (in the case of the Master Servicer and the   Special Servicer, to be reported by the party controlling litigation pursuant   to Section 3.30 of the Pooling and Servicing Agreement), (iii) the Depositor   as to the sponsors, any 1110(b) originator and any 1100(d)(1) party
  
	
  Additional   Item:
   Disclosure per Item 1119 of   Reg AB
   (to the extent material to Certificateholders)
  	
  
 
  	
  
(i)   All parties to the Pooling and Servicing Agreement (as to themselves), as to   the Master Servicer, only to the extent material to Certificateholders and   only as to affiliations under 1119(a) with the Trustee, Special Servicer or a   1108(a)(3) Sub-Servicer, (ii) the Trustee, the Special Servicer and the   Master Servicer as to the Wachovia Bank Commercial Mortgage Trust, Commercial   Mortgage Pass-Through Certificates, Series 2007-C31, (iii) the Depositor as   to the sponsors, any 1110(b) originator and any 1100(d)(1) party
  
	
  
Additional   Item:
   Disclosure per Item 1112(b) of   Reg AB
  	
  
 
  	
  
Depositor   Master Servicer
  
	
  
Additional   Item:
   Disclosure per Items 1114(b)   and 1115(b) of Reg AB
  	
  
 
  	
  
Depositor
  




W-1









EXHIBIT X


FORM 8-K DISCLOSURE INFORMATION

	
  Item on Form 8-K
  	
   
 	
  
Party Responsible
  
	
  


  	 	
  

  
	
  
Item   1.01- Entry into a Material Definitive Agreement
  	
  
 
  	
  
All   parties to this Agreement only as to agreements such entity is a party to or   entered into on behalf of the Trust Fund
  
	
  
Item   1.02- Termination of a Material Definitive Agreement
  	
  
 
  	
  
All   parties to this Agreement only as to agreements such entity is a party to or   entered into on behalf of the Trust Fund
  
	
  
Item   1.03- Bankruptcy or Receivership
  	
  
 
  	
  
Depositor
  
	
  
Item   2.04- Triggering Events that Accelerate or Increase a Direct Financial   Obligation or an Obligation under an Off-Balance Sheet Arrangement
  	
  
 
  	
  
Depositor
  
	
  
Item   3.03- Material Modification to Rights of Security Holders
  	
  
 
  	
  
Trustee
  
	
  Item   5.03- Amendments of Articles of Incorporation or Bylaws; Change of Fiscal   Year
  	
  
 
  	
  
Depositor
  
	
  
Item   6.01- ABS Informational and Computational Material
  	
  
 
  	
  
Depositor
  
	
  
Item   6.02- Change of Master Servicer, Special Servicer or Trustee
  	
  
 
  	
  
Master   Servicer (as to itself or a Sub-Servicer retained by the Master Servicer)
   Special Servicer(as to itself or a Sub-Servicer retained by the Special   Servicer) Trustee
  
	
  
Item   6.03- Change in Credit Enhancement or External Support
  	
  
 
  	
  
Depositor   Trustee
  
	
  
Item   6.04- Failure to Make a Required Distribution
  	
  
 
  	
  
Trustee
  
	
  
Item   6.05- Securities Act Updating Disclosure
  	
  
 
  	
  
Depositor
  
	
  Item   7.01- Reg FD Disclosure
  	
  
 
  	
  
Depositor
  
	
  
Item   8.01
  	
  
 
  	
  
Depositor
  
	
  
Item   9.01
  	
  
 
  	
  
Depositor
  




X-1









EXHIBIT Y


SUB-SERVICER LIST

	
  
SUB-SERVICERS
  	
   
 	
  
SUB-SERVICED MORTGAGE LOANS
  
	
  


  	 	
  

  
	
  
Holliday Fenoglio Fowler, LP
  	
  
 
  	
  
The Depot Apartments
   15 Broad Street
   Saint Louis Marriott West
   The Overlook at St. Thomas Apartments
   First Colony Commons
   Wynn Palms Apartments
   Rancho Vista Apartments
  
	
   
  	
  
 
  	
  
 
  
	
  
GEMSA
  	
  
 
  	
  
Fry’s Plaza
   Vista Pointe at the Valley Apartments
   Royal Saint Moritz Apartments
   Evergreen Distribution Center
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Northmarq Capital, Inc.
  	
  
 
  	
  
Burnsville Medical Center   Parkway Place
  
	
  
 
  	
  
 
  	
  
 
  
	
  
ARCS
  	
  
 
  	
  
Wickatunk Village MHC
   The Three Crowns Apartments
   The Tower Apartments
  
	
  
 
  	
  
 
  	
  
 
  
	
  Sierra
  	
  
 
  	
  
Valle West Tennis Club   Apartments
   Springhill
Hillside Gardens
Casas Lindas
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Inland Commercial Mortgage Corporation
  	
  
 
  	
  
Mirasol Apartments
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Wachovia Bank, National Association
  	
  
 
  	
  
666 Fifth Avenue
  
	
  
 
  	
  
 
  	
  
 
  
	
  
Laureate Capital
  	
  
 
  	
  
Comfort Suites –   Charlotte, NC
  



Y-1








EXHIBIT Z

TENANTS-IN-COMMON TRANSFER COMPLIANCE

Z-1











	
  
Sponsor   Name
  	
   
 	
  
Timing   & Notice
   Requirement
  	
   
 	
  
Approval   of New
   Borrower
  	
   
 	
  
Accredited   Investors
   Only
  	
   
 	
  
Continued   Sponsor Control
   Requirement
  
	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  
	
  Triple Net Properties (NNN)   - Initiall TIC Transfers
  	
  
 
  	
  
First   18 Payment Dates days upon 10 days notice
  	
   
 	
  
At   Lender’s Discretion
  	
   
 	
  
Yes
  	
   
 	
  
Sponsor   is not required to maintain any interest in the Property
  
	
  
Triple Net Properties (NNN)   - Future TIC Transfers
  	
  
 
  	
  
After   the first 18 Payment Dates upon 30 days notice; No more than 20 permitted
  	
   
 	
  
At   Lender’s Discretion
  	
   
 	
  
Yes
  	
   
 	
  
Not   Applicable
  
	
  
SCI Real Estate Investments   (SCI) - Initial TIC Transfers
  	
  
 
  	
  
First   18 Payment Dates days upon 10 days notice; No more than 2 groups per month
  	
   
 	
  
At   Lender’s Discretion
  	
   
 	
  
Yes
  	
   
 	
  
SCI   Real Estate Investments, LLC must continue to hold 1%, directly or   indirectly, in the Sponsor Borrower
  
	
  SCI Real Estate Investments   (SCI) - Future TIC Transfers
  	
  
 
  	
  
After   the first 18 Payment Dates upon 30 days notice; No more than 20 permitted; No   more than 2 per month
  	
   
 	
  
At   Lender’s Discretion
  	
   
 	
  
Yes
  	
   
 	
  
Not   Applicable
  
	
  
CORE Realty Holdings (CORE)   - Initial TIC Transfers
  	
  
 
  	
  
At   any time; Upon 10 days notice; No more than 2 groups per month
  	
   
 	
  
At   Lender’s Discretion
  	
   
 	
  
Yes
  	
   
 	
  
Sponsor   is not required to maintain any interest in the Property
  
	
  
CORE Realty Holdings (CORE)   - Future TIC Transfers
  	
  
 
  	
  
At   any time after Initial TIC Transfers are completed; Upon 30 days notice; No   more than 2 per month
  	
   
 	
  
At   Lender’s Discretion
  	
   
 	
  
Yes
  	
   
 	
  
Not   Applicable
  
	
  Bluerock Real Estate   (Bluerock) - Initial TIC Transfers
  	
  
 
  	
  
First   year; Upon 10 days notice; No more than 2 groups per month
  	
   
 	
  
At   Lender’s Discretion
  	
   
 	
  
Yes
  	
   
 	
  
Sponsor   is not required to maintain any interest in the Property
  
	
  
Bluerock Real Estate   (Bluerock) - Future TIC Transfers
  	
  
 
  	
  
After   first year; Upon 10 days notice; No more than 2 per month
  	
   
 	
  
At   Lender’s Discretion
  	
   
 	
  
Yes
  	
   
 	
  
Not   Applicable
  
	
  
Sponsor for First Colony   Commons TIC Agreement
  	
  
 
  	
  
Upon   10 days written notice
  	
   
 	
  
At   Lender’s Discretion
  	
   
 	
  
Yes
  	
   
 	
  
Sponsor   is not required to maintain any interest in the Property
  










	
  
Sponsor   Name
  	
   
 	
  
New   Borrower Debt
   Liability
  	
   
 	
  
New   Guarantor
   Requirement
  	
   
 	
  
Sponsor   Release on
   Guaranty
  	
   
 	
  
General   Pre-
   Conditions
  
	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  
	
  Triple Net Properties (NNN)   - Initiall TIC Transfers
  	
  
 
  	
  
Joint   & Several
  	
   
 	
  
Not   Applicable; Sponsor provides indemnity for all entities
  	
   
 	
  
Not   Applicable; Sponsor provides indemnity for all entities
  	
   
 	
  
(I)   No Event of Default; (ii) No material adverse change in financial condition
  
	
  
Triple Net Properties (NNN)   - Future TIC Transfers
  	
  
 
  	
  
Joint   & Several
  	
   
 	
  
Not   Applicable; Sponsor provides indemnity for all entities
  	
   
 	
  
Not   Applicable; Sponsor provides indemnity for all entities
  	
   
 	
  
(I)   No Event of Default; (ii) No material adverse change in financial condition
  
	
  
SCI Real Estate Investments   (SCI) - Initial TIC Transfers
  	
  
 
  	
  
Joint   & Several
  	
   
 	
  
Principal(s)   of new TIC LLC to sign new TIC Indemnity Agreement
  	
   
 	
  
Indirectly;   Each TIC liable for own actions
  	
   
 	
  
(I)   No Event of Default; (ii) No material adverse change in financial condition
  
	
  SCI Real Estate Investments   (SCI) - Future TIC Transfers
  	
  
 
  	
  
Joint   & Several
  	
   
 	
  
Principal(s)   of new TIC LLC to sign new TIC Indemnity Agreement
  	
   
 	
  
Not   Applicable
  	
   
 	
  
(I)   No Event of Default; (ii) No material adverse change in financial condition
  
	
  
CORE Realty Holdings (CORE)   - Initial TIC Transfers
  	
  
 
  	
  
Joint   & Several
  	
   
 	
  
Principal(s)   of new TIC LLC to sign new TIC Indemnity Agreement
  	
   
 	
  
Indirectly;   Each TIC liable for own actions
  	
   
 	
  
(I)   No Event of Default; (ii) No material adverse change in financial condition
  
	
  
CORE Realty Holdings (CORE)   - Future TIC Transfers
  	
  
 
  	
  
Joint   & Several
  	
   
 	
  
Principal(s)   of new TIC LLC to sign new TIC Indemnity Agreement
  	
   
 	
  
Not   Applicable
  	
   
 	
  
(I)   No Event of Default; (ii) No material adverse change in financial condition
  
	
  Bluerock Real Estate   (Bluerock) - Initial TIC Transfers
  	
  
 
  	
  
Joint   & Several
  	
   
 	
  
Principal(s)   of new TIC LLC to sign new TIC Indemnity Agreement
  	
   
 	
  
Indirectly;   Each TIC liable for own actions
  	
   
 	
  
(I)   No Event of Default; (ii) No material adverse change in financial condition
  
	
  
Bluerock Real Estate   (Bluerock) - Future TIC Transfers
  	
  
 
  	
  
Joint   & Several
  	
   
 	
  
Principal(s)   of new TIC LLC to sign new TIC Indemnity Agreement
  	
   
 	
  
Not   Applicable
  	
   
 	
  
(I)   No Event of Default; (ii) No material adverse change in financial condition
  
	
  
Sponsor for First Colony   Commons TIC Agreement
  	
  
 
  	
  
Joint   & Several
  	
   
 	
  
TIC   Transferee and approved principal of TIC to sign new TIC Indemnity Agreement
  	
   
 	
  
Sponsor   signed Amended and Restated Indemnity Agreement upon intial TIC transfer;   Each TIC liabile for own actions
  	
   
 	
  
(i)   No Event of Default, (ii) No material, adverse chand in financial condition
  










	
  Sponsor   Name
  	
   
 	
  
Total   Borrowers
   Permitted
  	
   
 	
  
Required   Closing & Assumption
   Documents
  	
   
 	
  
Opinions   Required
  
	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  
	
  
Triple Net Properties (NNN)   - Initiall TIC Transfers
  	
  
 
  	
  
Max   permitted under Rev. Proc. 2002-14 (currently 35)
  	
   
 	
  
Settlement   Statement; Transfer Deed; Note Modification; Partial Loan Assumption   Agreement; Assumption of TIC Agreement; UCCs; other documents required by   Lender
  	
   
 	
  
Due   Execution; Enforceability; Non-Consolidation (only if required at initial   closing)
  
	
  Triple Net Properties (NNN)   - Future TIC Transfers
  	
  
 
  	
  
Max   permitted under Rev. Proc. 2002-14 (currently 35)
  	
   
 	
  
Settlement   Statement; Transfer Deed; Note Modification; Partial Loan Assumption   Agreement; Assumption of TIC Agreement; UCCs; other documentsrequired by   Lender
  	
   
 	
  
Due   Execution; Enforceability; Non-Consolidation (only if required at initial   closing)
  
	
  
SCI Real Estate Investments   (SCI) - Initial TIC Transfers
  	
  
 
  	
  
Max   permitted under Rev. Proc. 2002-14 (currently 35)
  	
   
 	
  
Settlement   Statement; Transfer Deed; Note Modification; Partial Loan Assumption   Agreement; TIC Indemnity Agreement; Assumption of TIC Agreement; UCCs; other   documents required by Lender
  	
   
 	
  
Due   Execution; Enforceability; Non-Consolidation (only if required at initial   closing)
  
	
  
SCI Real Estate Investments   (SCI) - Future TIC Transfers
  	
  
 
  	
  
Max   permitted under Rev. Proc. 2002-14 (currently 35)
  	
   
 	
  
Settlement   Statement; Transfer Deed; Note Modification; Partial Loan Assumption   Agreement; TIC Indemnity Agreement; Assumption of TIC Agreement; UCCs; other   documentsrequired by Lender
  	
   
 	
  
Due   Execution; Enforceability; Non-Consolidation (only if required at initial   closing)
  
	
  CORE Realty Holdings (CORE)   - Initial TIC Transfers
  	
  
 
  	
  
Max   permitted under Rev. Proc. 2002-14 (currently 35)
  	
   
 	
  
Settlement   Statement; Transfer Deed; Note Modification; Partial Loan Assumption   Agreement; TIC Indemnity Agreement; Assumption of TIC Agreement; UCCs; other   documents required by Lender
  	
   
 	
  
Due   Execution; Enforceability; Non-Consolidation (only if required at initial   closing)
  
	
  
CORE Realty Holdings (CORE)   - Future TIC Transfers
  	
  
 
  	
  
Max   permitted under Rev. Proc. 2002-14 (currently 35)
  	
   
 	
  
Settlement   Statement; Transfer Deed; Note Modification; Partial Loan Assumption   Agreement; TIC Indemnity Agreement; Assumption of TIC Agreement; UCCs; other   documentsrequired by Lender
  	
   
 	
  
Due   Execution; Enforceability; Non-Consolidation (only if required at initial   closing)
  
	
  
Bluerock Real Estate   (Bluerock) - Initial TIC Transfers
  	
  
 
  	
  
Max   permitted under Rev. Proc. 2002-14 (currently 35)
  	
   
 	
  
Settlement   Statement; Transfer Deed; Note Modification; Partial Loan Assumption   Agreement; TIC Indemnity Agreement; Assumption of TIC Agreement; UCCs; other   documents required by Lender
  	
   
 	
  
Due   Execution; Enforceability; Non-Consolidation (only if required at initial   closing)
  
	
  Bluerock Real Estate   (Bluerock) - Future TIC Transfers
  	
  
 
  	
  
Max   permitted under Rev. Proc. 2002-14 (currently 35)
  	
   
 	
  
Settlement   Statement; Transfer Deed; Note Modification; Partial Loan Assumption   Agreement; TIC Indemnity Agreement; Assumption of TIC Agreement; UCCs; other   documentsrequired by Lender
  	
   
 	
  
Due   Execution; Enforceability; Non-Consolidation (only if required at initial   closing)
  
	
  
Sponsor for First Colony   Commons TIC Agreement
  	
  
 
  	
  
Max   permitted under Rev. Proc. 2002-14 (currently 35)
  	
   
 	
  
Settlement   Statement; Transfer Deed; Tenancy in Common Agreement; Asset Management   Agreement; Consent and Agreement of Manager; Note Modification; Partial Loan   Assumption Agreement; TIC Indemnity Agreement; Other documents reasonably   requested by Lender
  	
   
 	
  
Due   Formation, Existence and Organization; Enforceability; Non-Consolidation
  











	
  Sponsor   Name
  	
   
 	
  
Assumption/   Application
   Fees
  	
   
 	
  
SPE   Requirement
  	
   
 	
  
Title   Down-Date
   Endorsement
  	
   
 	
  
Insurance   Endorsements
  
	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  
	
  Triple Net Properties (NNN)   - Initiall TIC Transfers
  	
  
 
  	
  
$1000   per TIC LLC plus costs
  	
   
 	
  
All   TIC LLCs must be Delaware SPEs; all organization documents to be approved by   Lender
  	
   
 	
  
Required
  	
   
 	
  
Not   Required
  
	
  
Triple Net Properties (NNN)   - Future TIC Transfers
  	
  
 
  	
  
$2,000   application fee and prorata 0.5% assumption fee, plus costs
  	
   
 	
  
All   TIC LLCs must be Delaware SPEs; all organization documents to be approved by   Lender
  	
   
 	
  
Required
  	
   
 	
  
Not   Required
  
	
  
SCI Real Estate Investments   (SCI) - Initial TIC Transfers
  	
  
 
  	
  
$1000   per TIC LLC for first 5 new TIC LLCs; $750 per TIC LLC for 6-10; $500 per TIC   LLC for 11-15; $250 per TIC LLC for 16+; plus costs for all closings
  	
   
 	
  
All   TIC LLCs must be Delaware SPEs; all organization documents to be approved by   Lender
  	
   
 	
  
Required
  	
   
 	
  
Not   Required
  
	
  SCI Real Estate Investments   (SCI) - Future TIC Transfers
  	
  
 
  	
  
$2,000   application fee and prorata 0.5% assumption fee, plus costs
  	
   
 	
  
New   Borrower must be Delaware SPE, all organization documents to be approved by   Lender
  	
   
 	
  
Required
  	
   
 	
  
Not   Required
  
	
  
CORE Realty Holdings (CORE)   - Initial TIC Transfers
  	
  
 
  	
  
$1000   per TIC LLC plus costs
  	
   
 	
  
New   Borrower must be Delaware SPE, all organization documents to be approved by   Lender
  	
   
 	
  
Required
  	
   
 	
  
Not   Required
  
	
  
CORE Realty Holdings (CORE)   - Future TIC Transfers
  	
  
 
  	
  
$5,000   application fee and prorata 0.5% assumption fee, plus costs
  	
   
 	
  
New   Borrower must be Delaware SPE, all organization documents to be approved by   Lender
  	
   
 	
  
Required
  	
   
 	
  
Not   Required
  
	
  Bluerock Real Estate   (Bluerock) - Initial TIC Transfers
  	
  
 
  	
  
$1000   per TIC LLC plus costs
  	
   
 	
  
New   Borrower must be Delaware SPE, all organization documents to be approved by   Lender
  	
   
 	
  
Required
  	
   
 	
  
Not   Required
  
	
  
Bluerock Real Estate   (Bluerock) - Future TIC Transfers
  	
  
 
  	
  
$1000   per TIC LLC plus costs for first 10 transfers;  prorata 0.5% assumption fee plus costs thereafter
  	
   
 	
  
New   Borrower must be Delaware SPE, all organization documents to be approved by   Lender
  	
   
 	
  
Required
  	
   
 	
  
Not   Required
  
	
  
Sponsor for First Colony   Commons TIC Agreement
  	
  
 
  	
  
If   during 180 consecutive days following loan closing, no assumption or   application fees are payable
  	
  
 
  	
  
Each   TIC Transferee must be a SPE
  	
  
 
  	
  
Required
  	
  
 
  	
  
Required   at Lender’s Discretion
  










	
  TIC   SYNDICATOR
  	
   
 	
  
Loan   Seller
  	
   
 	
  
Loan   Number
  	
   
 	
  
Mortgage Loan
   Number
  	
   
 	
  
RE COUNSEL
  	
   
 	
  
Property   Name
  
	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  
	
  Covington   First Colony Acquisition, LLC
  	
  
 
  	
  
Wachovia
  	
   
 	
  
20
  	
   
 	
  
502859729
  	
  
 
  	
  
Jay   Suhr
  	
  
 
  	
  
First Colony Commons
  
	
  
NNN
  	
  
 
  	
  
Wachovia
  	
   
 	
  
48
  	
   
 	
  
502859743
  	
  
 
  	
  
James   Tucker
  	
  
 
  	
  
Parkway 400
  
	
  Bluerock
  	
  
 
  	
  
Wachovia
  	
   
 	
  
67
  	
   
 	
  
502859315
  	
  
 
  	
  
James   Tucker
  	
  
 
  	
  
St. Louis County Office Pool
  
	
  
SCI
  	
  
 
  	
  
Wachovia
  	
   
 	
  
78
  	
   
 	
  
502859890
  	
  
 
  	
  
James   Tucker
  	
  
 
  	
  
The Marquis at Quarry   Apartments
  
	
  CORE
  	
  
 
  	
  
Wachovia
  	
   
 	
  
82
  	
   
 	
  
502859803
  	
  
 
  	
  
James   Tucker
  	
  
 
  	
  
Northridge Promenade   Shopping Center
  
	
  
SCI
  	
  
 
  	
  
Wachovia
  	
   
 	
  
85
  	
   
 	
  
502858514
  	
  
 
  	
  
James   Tucker
  	
  
 
  	
  
Crossing Place
  
	
  SCI
  	
  
 
  	
  
Wachovia
  	
   
 	
  
101
  	
   
 	
  
502859488
  	
  
 
  	
  
James   Tucker
  	
  
 
  	
  
Sterling University at the   Junction
  
	
  
Fully   Syndicated
  	
  
 
  	
  
Wachovia
  	
   
 	
  
19
  	
   
 	
  
502859350
  	
  
 
  	
  
Tim   Corrigan
  	
  
 
  	
  
Cherry Hill Corporate Center   Pool
  
	
  Fully   Syndicated
  	
  
 
  	
  
Wachovia
  	
   
 	
  
21
  	
   
 	
  
502858781
  	
  
 
  	
  
Corey   Tessler
  	
  
 
  	
  
611 West 6th Street
  
	
  
Fully   Syndicated
  	
  
 
  	
  
Wachovia
  	
   
 	
  
26
  	
   
 	
  
502858956
  	
  
 
  	
  
Eddie   Booher
  	
  
 
  	
  
East Gate Square Phase II
  
	
  Fully   Syndicated
  	
  
 
  	
  
Wachovia
  	
   
 	
  
31
  	
   
 	
  
502859855
  	
  
 
  	
  
James   Tucker
  	
  
 
  	
  
Scottsdale Medical Office
  
	
  
Fully   Syndicated
  	
  
 
  	
  
Wachovia
  	
   
 	
  
33
  	
   
 	
  
502859126
  	
  
 
  	
  
Jay   Suhr
  	
  
 
  	
  
The Overlook at St. Thomas   Apartments
  
	
  Fully   Syndicated
  	
  
 
  	
  
Wachovia
  	
   
 	
  
38
  	
   
 	
  
502859303
  	
  
 
  	
  
Erin   Maxon
  	
  
 
  	
  
Colonial Grande at Promenade
  
	
  
Fully   Syndicated
  	
  
 
  	
  
Wachovia
  	
   
 	
  
42
  	
   
 	
  
502859977
  	
  
 
  	
  
Eddie   Booher
  	
  
 
  	
  
East Gate Square Phase IV
  
	
  Fully   Syndicated
  	
  
 
  	
  
Wachovia
  	
   
 	
  
43
  	
   
 	
  
502859978
  	
  
 
  	
  
Eddie   Booher
  	
  
 
  	
  
East Gate Square Phase V
  
	
  
Fully   Syndicated
  	
  
 
  	
  
Wachovia
  	
   
 	
  
46
  	
   
 	
  
502859294
  	
  
 
  	
  
James   Tucker
  	
  
 
  	
  
Durham Office
  
	
  Fully   Syndicated
  	
  
 
  	
  
Wachovia
  	
   
 	
  
51
  	
   
 	
  
502858129
  	
  
 
  	
  
Jay   Suhr
  	
  
 
  	
  
One & Two Decatur Town   Center
  
	
  
Fully   Syndicated
  	
  
 
  	
  
Wachovia
  	
   
 	
  
53
  	
   
 	
  
502858907
  	
  
 
  	
  
Jay   Suhr
  	
  
 
  	
  
Beachwalk Shopping Center
  
	
  Fully   Syndicated
  	
  
 
  	
  
Wachovia
  	
   
 	
  
55
  	
   
 	
  
502859313
  	
  
 
  	
  
Erin   Maxon
  	
  
 
  	
  
Royal Saint Moritz   Apartments
  
	
  
Fully   Syndicated
  	
  
 
  	
  
Wachovia
  	
   
 	
  
56
  	
   
 	
  
502859127
  	
  
 
  	
  
James   Tucker
  	
  
 
  	
  
Vineyard Springs Apartments
  
	
  Fully   Syndicated
  	
  
 
  	
  
Wachovia
  	
   
 	
  
66
  	
   
 	
  
502859957
  	
  
 
  	
  
Eddie   Booher
  	
  
 
  	
  
East Gate Square Phase III
  
	
  
Fully   Syndicated
  	
  
 
  	
  
Wachovia
  	
   
 	
  
88
  	
   
 	
  
502859514
  	
  
 
  	
  
James   Tucker
  	
  
 
  	
  
Springfield Apartments
  
	
  Fully   Syndicated
  	
  
 
  	
  
Wachovia
  	
   
 	
  
93
  	
   
 	
  
502859979
  	
  
 
  	
  
Eddie   Booher
  	
  
 
  	
  
East Gate Square Phase VI
  
	
  
Fully   Syndicated
  	
  
 
  	
  
Wachovia
  	
   
 	
  
122
  	
   
 	
  
502859168
  	
  
 
  	
  
Gilbert
  	
  
 
  	
  
Publix at Bayside Lakes
  
	
  Fully   Syndicated
  	
  
 
  	
  
Wachovia
  	
   
 	
  
127
  	
   
 	
  
502859638
  	
  
 
  	
  
Gilbert
  	
  
 
  	
  
Berwick Marketplace
  
	
  
Fully   Syndicated
  	
  
 
  	
  
Wachovia
  	
   
 	
  
162
  	
   
 	
  
502859450
  	
  
 
  	
  
Jay   Suhr
  	
  
 
  	
  
2580 Diehl Road
  
	
  Fully   Syndicated
  	
  
 
  	
  
Wachovia
  	
   
 	
  
185
  	
   
 	
  
502815701
  	
  
 
  	
  
Eddie   Booher
  	
  
 
  	
  
Fry’s Plaza
  










	
  TIC   SYNDICATOR
  	
   
 	
  
Cut-Off   Date Balance
  	
   
 	
  
% of Pool
  	
   
 	
  
Group #
  	
   
 	
  
SPONSOR
  	
   
 	
  
Tenants-In-Common   (Y/N)?
  	
   
 	
  
Maximum #   of members
  	
   
 	
  
Fully   Syndicated?
  
	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  	
   
 	
  


  
	
  Covington First Colony   Acquisition, LLC
  	
  
 
  	
  
$50,600,000
  	
   
 	
  
0.87%
  	
   
 	
  
1
  	
  
 
  	
  
Covington   Realty Partners, LLC
  	
  
 
  	
  
Y
  	
   
 	
  
35
  	
   
 	
  
No
  
	
  
NNN
  	
  
 
  	
  
$25,500,000
  	
   
 	
  
0.44%
  	
   
 	
  
1
  	
  
 
  	
  
NNN   Realty Advisors, Inc.
  	
  
 
  	
  
Y
  	
   
 	
  
35
  	
   
 	
  
No
  
	
  Bluerock
  	
  
 
  	
  
$18,500,000
  	
   
 	
  
0.32%
  	
   
 	
  
1
  	
  
 
  	
  
Bluerock   Real Estate,LLC/Ramin Kamfar
  	
  
 
  	
  
Y
  	
   
 	
  
35
  	
   
 	
  
No
  
	
  
SCI
  	
  
 
  	
  
$16,016,000
  	
   
 	
  
0.27%
  	
   
 	
  
2
  	
  
 
  	
  
Marc   Paul, Robert Robotti, Doug Johnston
  	
  
 
  	
  
Y
  	
   
 	
  
35
  	
   
 	
  
No
  
	
  CORE
  	
  
 
  	
  
$15,100,000
  	
   
 	
  
0.26%
  	
   
 	
  
1
  	
  
 
  	
  
John   R. Saunders
  	
  
 
  	
  
Y
  	
   
 	
  
35
  	
   
 	
  
No
  
	
  
SCI
  	
  
 
  	
  
$14,950,000
  	
   
 	
  
0.26%
  	
   
 	
  
2
  	
  
 
  	
  
Marc   Paul, Robert Robotti, Doug Johnston
  	
  
 
  	
  
Y
  	
   
 	
  
35
  	
   
 	
  
No
  
	
  SCI
  	
  
 
  	
  
$11,505,000
  	
   
 	
  
0.20%
  	
   
 	
  
2
  	
  
 
  	
  
Marc   Paul, Robert Robotti, Doug Johnston
  	
  
 
  	
  
Y
  	
   
 	
  
35
  	
   
 	
  
No
  
	
  
Fully Syndicated
  	
  
 
  	
  
$51,700,000
  	
   
 	
  
0.88%
  	
   
 	
  
1
  	
  
 
  	
  
Thomas   W. Brown; Thomas N. Trkla
  	
  
 
  	
  
Y
  	
   
 	
  
2
  	
   
 	
  
Yes
  
	
  Fully Syndicated
  	
  
 
  	
  
$50,000,000
  	
   
 	
  
0.86%
  	
   
 	
  
1
  	
  
 
  	
  
Joseph,   Meyer, Jacob Chetrit
  	
  
 
  	
  
Y
  	
   
 	
  
2
  	
   
 	
  
Yes
  
	
  
Fully Syndicated
  	
  
 
  	
  
$41,480,000
  	
   
 	
  
0.71%
  	
   
 	
  
1
  	
  
 
  	
  
Berwind   Property Group, Inc. and Berwind Property Group, Ltd.
  	
  
 
  	
  
Y
  	
   
 	
  
6
  	
   
 	
  
Yes
  
	
  Fully Syndicated
  	
  
 
  	
  
$36,500,000
  	
   
 	
  
0.62%
  	
   
 	
  
1
  	
  
 
  	
  
NNN   Realty Advisors, Inc.
  	
  
 
  	
  
Y
  	
   
 	
  
35
  	
   
 	
  
Yes
  
	
  
Fully Syndicated
  	
  
 
  	
  
$35,962,199
  	
   
 	
  
0.62%
  	
   
 	
  
2
  	
  
 
  	
  
NTS   Realty Holdings Limited Partnership; Quince Associates
  	
  
 
  	
  
Y
  	
   
 	
  
2
  	
   
 	
  
Yes
  
	
  Fully Syndicated
  	
  
 
  	
  
$30,400,000
  	
   
 	
  
0.52%
  	
   
 	
  
2
  	
  
 
  	
  
Bryan   Applefield
  	
  
 
  	
  
Y
  	
   
 	
  
7
  	
   
 	
  
Yes
  
	
  
Fully Syndicated
  	
  
 
  	
  
$28,080,000
  	
   
 	
  
0.48%
  	
   
 	
  
1
  	
  
 
  	
  
Berwind   Property Group, Inc. and Berwind Property Group, Ltd.
  	
  
 
  	
  
Y
  	
   
 	
  
6
  	
   
 	
  
Yes
  
	
  Fully Syndicated
  	
  
 
  	
  
$28,020,000
  	
   
 	
  
0.48%
  	
   
 	
  
1
  	
  
 
  	
  
Berwind   Property Group, Inc. and Berwind Property Group, Ltd.
  	
  
 
  	
  
Y
  	
   
 	
  
4
  	
   
 	
  
Yes
  
	
  
Fully Syndicated
  	
  
 
  	
  
$26,000,000
  	
   
 	
  
0.44%
  	
   
 	
  
1
  	
  
 
  	
  
NNN   Realty Advisors, Inc.
  	
  
 
  	
  
Y
  	
   
 	
  
35
  	
   
 	
  
Yes
  
	
  Fully Syndicated
  	
  
 
  	
  
$24,000,000
  	
   
 	
  
0.41%
  	
   
 	
  
1
  	
  
 
  	
  
Richard   G. Fownes
  	
  
 
  	
  
Y
  	
   
 	
  
3
  	
   
 	
  
Yes
  
	
  
Fully Syndicated
  	
  
 
  	
  
$22,520,000
  	
   
 	
  
0.39%
  	
   
 	
  
1
  	
  
 
  	
  
Stephen   J. Muller
  	
  
 
  	
  
Y
  	
   
 	
  
4
  	
   
 	
  
Yes
  
	
  Fully Syndicated
  	
  
 
  	
  
$22,000,000
  	
   
 	
  
0.38%
  	
   
 	
  
2
  	
  
 
  	
  
Stanley   Fimberg
  	
  
 
  	
  
Y
  	
   
 	
  
2
  	
   
 	
  
Yes
  
	
  
Fully Syndicated
  	
  
 
  	
  
$21,825,000
  	
   
 	
  
0.37%
  	
   
 	
  
2
  	
  
 
  	
  
NNN   Realty Advisors, Inc.
  	
  
 
  	
  
Y
  	
   
 	
  
35
  	
   
 	
  
Yes
  
	
  Fully Syndicated
  	
  
 
  	
  
$19,280,000
  	
   
 	
  
0.33%
  	
   
 	
  
1
  	
  
 
  	
  
Berwind   Property Group, Inc. and Berwind Property Group, Ltd.
  	
  
 
  	
  
Y
  	
   
 	
  
6
  	
   
 	
  
Yes
  
	
  
Fully Syndicated
  	
  
 
  	
  
$13,575,000
  	
   
 	
  
0.23%
  	
   
 	
  
2
  	
  
 
  	
  
NNN   Realty Advisors, Inc.
  	
  
 
  	
  
Y
  	
   
 	
  
35
  	
   
 	
  
Yes
  
	
  Fully Syndicated
  	
  
 
  	
  
$13,140,000
  	
   
 	
  
0.22%
  	
   
 	
  
1
  	
  
 
  	
  
Berwind   Property Group, Inc. and Berwind Property Group, Ltd.
  	
  
 
  	
  
Y
  	
   
 	
  
5
  	
   
 	
  
Yes
  
	
  
Fully Syndicated
  	
  
 
  	
  
$8,000,000
  	
   
 	
  
0.14%
  	
   
 	
  
1
  	
  
 
  	
  
Steven   D. Bell & Company
  	
  
 
  	
  
Y
  	
   
 	
  
35
  	
   
 	
  
Yes
  
	
  Fully Syndicated
  	
  
 
  	
  
$7,200,000
  	
   
 	
  
0.12%
  	
   
 	
  
1
  	
  
 
  	
  
Steven   D. Bell & Company
  	
  
 
  	
  
Y
  	
   
 	
  
5
  	
   
 	
  
Yes
  
	
  
Fully Syndicated
  	
  
 
  	
  
$4,480,000
  	
   
 	
  
0.08%
  	
   
 	
  
1
  	
  
 
  	
  
John   E. Shaffer
  	
  
 
  	
  
Y
  	
   
 	
  
4
  	
   
 	
  
Yes
  
	
  Fully Syndicated
  	
   
  	
  $2,070,000
  	
   
 	
  0.04%
  	
   
 	
  1
  	
   
  	
  David   Goldberg
  	
   
  	
  Y
  	
   
 	
  2
  	
   
 	
  Yes
  












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