# EDGAR Filing Document

**Accession Number:** 0000850779
**File Stem:** 0001539497-23-000563
**Filing Date:** 2023-3
**Character Count:** 29341
**Document Hash:** 33281842c1ee1b7c3734847f2f4bbc28
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001539497-23-000563.hdr.sgml**: 20230330

**ACCESSION NUMBER**: 0001539497-23-000563

**CONFORMED SUBMISSION TYPE**: ABS-15G

**PUBLIC DOCUMENT COUNT**: 4

**CONFORMED PERIOD OF REPORT**: 20230330

**ITEM INFORMATION**: Findings and Conclusions of the Third Party Due Diligence Provider Obtained by the Issuer

**FILED AS OF DATE**: 20230330

**DATE AS OF CHANGE**: 20230330

**ABS RULE**: RULE-15GA2

**REGISTERED ENTITY**: N

**ABS ASSET CLASS**: Commercial mortgages

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** WELLS FARGO COMMERCIAL MORTGAGE SECURITIES INC
- **CENTRAL INDEX KEY:** 0000850779
- **STANDARD INDUSTRIAL CLASSIFICATION:** ASSET-BACKED SECURITIES [6189]
- **IRS NUMBER:** 561643598
- **STATE OF INCORPORATION:** NC
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** ABS-15G
- **SEC ACT:** Dodd Frank Act
- **SEC FILE NUMBER:** 025-00461
- **FILM NUMBER:** 23780765

**BUSINESS ADDRESS:**
- **STREET 1:** 301 SOUTH COLLEGE STREET
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28228-0166
- **BUSINESS PHONE:** 7043832556

**MAIL ADDRESS:**
- **STREET 1:** 301 SOUTH COLLEGE STREET
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28228-0166

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** WACHOVIA COMMERCIAL MORTGAGE SECURITIES INC
- **DATE OF NAME CHANGE:** 20020304

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FIRST UNION COMMERCIAL MORTGAGE SECURITIES INC
- **DATE OF NAME CHANGE:** 19960520

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FIRST UNION MORTGAGE SECURITIES INC
- **DATE OF NAME CHANGE:** 19951013
**DEPOSITOR**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** WELLS FARGO COMMERCIAL MORTGAGE SECURITIES INC
- **CENTRAL INDEX KEY:** 0000850779
- **STANDARD INDUSTRIAL CLASSIFICATION:** ASSET-BACKED SECURITIES [6189]
- **IRS NUMBER:** 561643598
- **STATE OF INCORPORATION:** NC
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** ABS-15G
- **SEC ACT:** Dodd Frank Act

**BUSINESS ADDRESS:**
- **STREET 1:** 301 SOUTH COLLEGE STREET
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28228-0166
- **BUSINESS PHONE:** 7043832556

**MAIL ADDRESS:**
- **STREET 1:** 301 SOUTH COLLEGE STREET
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28228-0166

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** WACHOVIA COMMERCIAL MORTGAGE SECURITIES INC
- **DATE OF NAME CHANGE:** 20020304

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FIRST UNION COMMERCIAL MORTGAGE SECURITIES INC
- **DATE OF NAME CHANGE:** 19960520

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FIRST UNION MORTGAGE SECURITIES INC
- **DATE OF NAME CHANGE:** 19951013
**SECURITIZER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** WELLS FARGO COMMERCIAL MORTGAGE SECURITIES INC
- **CENTRAL INDEX KEY:** 0000850779
- **STANDARD INDUSTRIAL CLASSIFICATION:** ASSET-BACKED SECURITIES [6189]
- **IRS NUMBER:** 561643598
- **STATE OF INCORPORATION:** NC
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** ABS-15G
- **SEC ACT:** Dodd Frank Act
- **SEC FILE NUMBER:** 025-00461

**BUSINESS ADDRESS:**
- **STREET 1:** 301 SOUTH COLLEGE STREET
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28228-0166
- **BUSINESS PHONE:** 7043832556

**MAIL ADDRESS:**
- **STREET 1:** 301 SOUTH COLLEGE STREET
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28228-0166

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** WACHOVIA COMMERCIAL MORTGAGE SECURITIES INC
- **DATE OF NAME CHANGE:** 20020304

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FIRST UNION COMMERCIAL MORTGAGE SECURITIES INC
- **DATE OF NAME CHANGE:** 19960520

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FIRST UNION MORTGAGE SECURITIES INC
- **DATE OF NAME CHANGE:** 19951013

**UNITED STATES<br> SECURITIES AND EXCHANGE COMMISSION<br> Washington, D.C. 20549** 

**FORM ABS-15G**

**ASSET-BACKED SECURITIZER<br> Report Pursuant to Section 15G of** 

**the Securities Exchange Act of 1934**

<br> Check the appropriate box to indicate the filing obligation to which this form is intended to satisfy:<br>☐ Rule 15Ga-1 under the Exchange Act (17 CFR 240.15Ga-1) for the reporting period _________________ to _________________

Date of Report (Date of earliest event reported)______________________

Commission File Number of securitizer: ____________________

Central Index Key Number of securitizer: ___________________

______________________________________________________________________

Name and telephone number, including area code, of the person to

contact in connection with this filing

Indicate by check mark whether the securitizer has no activity to report for the initial period pursuant to Rule 15Ga-1(c)(1) [_]<br>Indicate by check mark whether the securitizer has no activity to report for the quarterly period pursuant to Rule 15Ga-1(c)(2)(i) [_]<br>Indicate by check mark whether the securitizer has no activity to report for the annual period pursuant to Rule 15Ga-1(c)(2)(ii) [_]

☒ Rule 15Ga-2 under the Exchange Act (17 CFR 240.15Ga-2)

Central Index Key Number of depositor: 0000850779

<u>PGA National Resort Commercial Mortgage Trust 2023-RSRT</u> <br> (Exact name of issuing entity as specified in its charter)

Central Index Key Number of issuing entity (if applicable): <u>Not applicable</u> 

Central Index Key Number of underwriter (if applicable): <u>Not applicable</u> 

<u>A.J. Sfarra, (212) 214-5613</u> <br> Name and telephone number, including area code, of the person to <br> contact in connection with this filing

**INFORMATION TO BE INCLUDED IN THE REPORT**

**FINDINGS AND CONCLUSIONS OF THIRD-PARTY DUE DILIGENCE REPORTS**

**Item 2.01 Findings and Conclusions of a Third Party Due Diligence Report Obtained by the Issuer**

Attached as Exhibit 1 hereto is an agreed-upon procedures report, dated March 30, 2023, obtained by the depositor, with respect to certain agreed-upon procedures performed by KPMG LLP.

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the reporting entity has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Wells Fargo Commercial Mortgage Securities, Inc.

(Depositor)

Date: March 30, 2023

<u>/s/ Anthony J. Sfarra</u> 

By: Anthony J. Sfarra, President<br> (senior officer in charge of securitization of the depositor)

Exhibit 1 Independent Accountants' Agreed-Upon Procedures Report, dated March 30, 2023.

## Ex-1

**Exhibit 1**

---

| | |
|:---|:---|
| ![](kpmglogo.jpg) |  |
|  | KPMG LLP<br> Suite 900<br> 8350 Broad Street<br> McLean, VA 22102 |

---

**Independent Accountants' Agreed-Upon Procedures Report**

Wells Fargo Commercial Mortgage Securities, Inc. and Wells Fargo Bank, National Association

(together, the "Company")

Wells Fargo Securities, LLC

Morgan Stanley Bank, N.A.

Morgan Stanley & Co. LLC

Morgan Stanley Mortgage Capital Holdings LLC

(together, the "Specified Parties"):

Re: PGA National Resort Commercial Mortgage Trust 2023-RSRT – Data File Procedures

We have performed the procedures described below on the specified attributes in an electronic data file entitled "PGA National Resort 2023-RSRT_ Accounting Tape.xlsx" provided by the Company on March 30, 2023 (the "Data File"), containing information on one mortgage loan ("Mortgage Loan") and one related mortgaged property ("Mortgaged Property") as of April 9, 2023 (the "Cut-off Date"), which we were informed are intended to be included as collateral in the offering by PGA National Resort Commercial Mortgage Trust 2023-RSRT, Commercial Mortgage Pass-Through Certificates, Series 2023-RSRT (the "Certificates"). The Company is responsible for the specified attributes identified by the Company in the Data File.

The Specified Parties have agreed to and acknowledged that the procedures performed are appropriate to meet their intended purpose of assisting specified parties in evaluating the accuracy of the specified attributes in the Data File. This report may not be suitable for any other purpose. No other parties have agreed to or acknowledged the appropriateness of these procedures for the intended purpose or any other purpose.

The procedures performed may not address all the items of interest to a specified party of this report and may not meet the needs of all specified parties of this report and, as such, specified parties are responsible for determining whether the procedures performed are appropriate for their purposes. We make no representation regarding the appropriateness of the procedures either for the intended purpose or for any other purpose

Unless otherwise stated, the following definitions have been adopted in presenting our procedures and findings:

· The term "compared" means compared to the information shown and found it to be in agreement, unless otherwise stated.
Such compared information was deemed to be in agreement if differences were within the reporting threshold.

· The term "recomputed" means recalculated and compared the result to the information shown and found it to be in agreement,
unless otherwise stated. Such recomputed information was deemed to be in agreement if differences were within the reporting threshold.

· The term "reporting threshold" means that dollar amounts and percentages were within $1.00 and 0.1%, respectively.

· The term "Loan Files" means the copies of source documents provided by the Company and listed in Attachment A. We make
no representation regarding the validity or accuracy of these documents.

KPMG LLP, a Delaware limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee.

![](kpmglogo2.jpg)

· The term "Instructions" means the instructions provided by the Company pertaining to a procedure attribute, or methodology
as described in Attachment C.

· The term "Draft" means source documents provided by the Company and listed in Attachment A are in draft form and are not
executed with signatures as of the date of this report. We make no representation regarding the validity or accuracy of these documents.

· The term "Compared Attributes" means the list of fields in the Data File which were selected by the Company for us to
perform comparison procedures for and are listed in Attachment A.

· The term "Recomputed Attributes" means the list of fields in the Data File which were selected by the Company for us to
perform recomputation procedures for and are listed in Attachment B.

· The term "Calculation Methodology" means the formula listed in the Calculation Methodology field of the Attachment B containing
the calculation methodology for the Recomputed Attributes provided by the Company.

· The term "Assumed SOFR" means the Term SOFR rate of 4.792% which we were instructed to use by the Company where applicable
in the Calculation Methodology.

· The term "Provided Information" means the Loan Files, Calculation Methodology, Cut-off Date, Assumed SOFR and Instructions.

Prior to being provided the Data File, we received one or more earlier versions of the data file on which to perform our procedures. In performing those procedures, we identified differences which were communicated to the Specified Parties. The Data File represents the revised information reflecting resolution of differences communicated as determined appropriate by the Specified Parties. We performed the procedures on the Data File, and the results of those procedures are reflected herein.

The procedures we were instructed by the Company to perform and the associated findings are as follows.

A. We compared the Compared Attributes in the Data File to the corresponding information included in the Loan Files. The Specified Parties
indicated that the absence of any of the information in the Loan Files or the inability to agree the indicated information from the Data
File to the Loan Files for each of the attributes identified, constituted an exception. The document priority is the order provided by
the Company, which is listed in the "Source Document(s)" column in Attachment A, with the highest priority document listed
first.

B. We recomputed the Recomputed Attributes in the Data File using (i) the corresponding information contained in the Data File, and (ii)
the Calculation Methodology.

We were engaged by the Company to perform this agreed-upon procedures engagement and conducted our engagement in accordance with attestation standards established by the American Institute of Certified Public Accountants, which involves us performing the specific procedures agreed to and acknowledged above and reporting on findings based on performing those procedures. We were not engaged to, and did not, conduct an examination or review, the objective of which would be the expression of an opinion or conclusion, respectively, on the specified attributes in the Data File. Accordingly, we do not express such an opinion or conclusion. Had we performed additional procedures, other matters might have come to our attention that would have been reported.

We are required to be independent of the Company and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements related to our agreed-upon procedures engagement.

![](kpmglogo2.jpg)

The procedures performed were applied based on the information included in the Data File and Provided Information, without verification or evaluation of such information by us; therefore, we express no opinion or any other form of assurance regarding (i) the reasonableness of the information provided to us by the Company, (ii) the physical existence of the Mortgage Loan and related Mortgaged Property, (iii) the reliability or accuracy of the Provided Information which was used in our procedures, or (iv) matters of legal interpretation

The procedures performed were not intended to address, nor did they address: (i) the conformity of the origination of the Mortgage Loan to stated underwriting or credit extension guidelines, standards, criteria or other requirements, (ii) the value of collateral securing any such Mortgage Loan being securitized, (iii) the compliance of the originator of the Mortgage Loan with federal, state, and local laws and regulations, or (iv) any other factor or characteristic of the Mortgage Loan and related Mortgaged Property that would be material to the likelihood that the issuer of the Certificates will pay interest and principal in accordance with applicable terms and conditions. The procedures performed were not intended to satisfy any criteria for due diligence published by the nationally recognized statistical rating organizations ("NRSROs").

The terms of our engagement are such that we have no responsibility to update this report because of events and circumstances that may subsequently occur.

This report is intended solely for the information and use of the Specified Parties. It is not intended to be and should not be used by any other person or entity, including investors or the NRSROs, who are not identified in the report as the Specified Parties but may have access to this report as required by law or regulation.

/s/ KPMG LLP

McLean, VA

March 30, 2023

**ATTACHMENT A**

**COMPARED ATTRIBUTES**

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Attribute** | &nbsp;&nbsp;**Source Document(s)** |
| &nbsp;&nbsp;Mortgage Loan Originator | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;Property Address | &nbsp;&nbsp;Appraisal |
| &nbsp;&nbsp;Property City | &nbsp;&nbsp;Appraisal |
| &nbsp;&nbsp;Property State | &nbsp;&nbsp;Appraisal |
| &nbsp;&nbsp;Property Zip Code | &nbsp;&nbsp;Appraisal |
| &nbsp;&nbsp;County | &nbsp;&nbsp;Appraisal |
| &nbsp;&nbsp;Year Built | &nbsp;&nbsp;Appraisal |
| &nbsp;&nbsp;Year Renovated | &nbsp;&nbsp;Appraisal |
| &nbsp;&nbsp;General Property Type | &nbsp;&nbsp;Appraisal |
| &nbsp;&nbsp;Specific Property Type | &nbsp;&nbsp;Appraisal |
| &nbsp;&nbsp;No. of Keys(1) | &nbsp;&nbsp;Appraisal |
| &nbsp;&nbsp;Unit of Measure | &nbsp;&nbsp;Underwritten Cash Flows |
| &nbsp;&nbsp;Occupancy % | &nbsp;&nbsp;Underwritten Cash Flows |
| &nbsp;&nbsp;Occupancy % Source Date | &nbsp;&nbsp;Underwritten Cash Flows |
| &nbsp;&nbsp;Loan Purpose (Acquisition, Refinance) | &nbsp;&nbsp;Settlement Statement |
| &nbsp;&nbsp;Borrower Name | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;Borrower Sponsor | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;Recourse Carveout Guarantor | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;Property Manager | &nbsp;&nbsp;Draft Loan Agreement; Management Agreement |
| &nbsp;&nbsp;Note Date | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;First Payment Date | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;Initial Maturity Date or Anticipated Repayment Date | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;Fully Extended Maturity Date or Anticipated Repayment Date | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;Rate Type | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;Mortgage Rate Index | &nbsp;&nbsp;Draft Loan Agreement |

---

**ATTACHMENT A**

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Attribute** | &nbsp;&nbsp;**Source Document(s)** |
| &nbsp;&nbsp;Mortgage Loan Spread | &nbsp;&nbsp;Provided by the Company |
| &nbsp;&nbsp;SOFR Cap | &nbsp;&nbsp;Provided by the Company |
| &nbsp;&nbsp;Rate Cap Provider | &nbsp;&nbsp;Provided by the Company |
| &nbsp;&nbsp;Rate Cap Strike Price Description | &nbsp;&nbsp;Provided by the Company |
| &nbsp;&nbsp;Index Floor % | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;Certificate Administrator Fee Rate | &nbsp;&nbsp;Provided by the Company |
| &nbsp;&nbsp;Operating Advisor Fee Rate | &nbsp;&nbsp;Provided by the Company |
| &nbsp;&nbsp;Servicing Fee Rate | &nbsp;&nbsp;Provided by the Company |
| &nbsp;&nbsp;CREFC Fee Rate | &nbsp;&nbsp;Provided by the Company |
| &nbsp;&nbsp;Interest Accrual Basis | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;Interest Rate Change Amount | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;Interest Rate Change Trigger | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;Original Principal Balance | &nbsp;&nbsp;Provided by the Company |
| &nbsp;&nbsp;Loan Level Cut-Off Date Balance | &nbsp;&nbsp;Provided by the Company |
| &nbsp;&nbsp;Property Level Cut-Off Date Balance | &nbsp;&nbsp;Provided by the Company |
| &nbsp;&nbsp;Balloon Payment | &nbsp;&nbsp;Provided by the Company |
| &nbsp;&nbsp;Partial Release and/or Partial Prepayment (Y/N) | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;Partial Release and/or Prepayment Description | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;Prepayment Restriction Code | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;Amortization Term (Original) | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;Loan Term (Original) | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;Extension Options Description | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;IO Period | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;Loan Amortization Type | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;ARD Loan (Y/N) | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;Appraisal Firm | &nbsp;&nbsp;Appraisal |
| &nbsp;&nbsp;As-Is Appraisal Valuation Date | &nbsp;&nbsp;Appraisal |

---

**ATTACHMENT A**

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Attribute** | &nbsp;&nbsp;**Source Document(s)** |
| &nbsp;&nbsp;As-Is Appraised Value | &nbsp;&nbsp;Appraisal |
| &nbsp;&nbsp;As-Stabilized Appraised Value | &nbsp;&nbsp;Appraisal |
| &nbsp;&nbsp;UW Occupancy % | &nbsp;&nbsp;Underwritten Cash Flows |
| &nbsp;&nbsp;UW Revenues | &nbsp;&nbsp;Underwritten Cash Flows |
| &nbsp;&nbsp;UW Expenses | &nbsp;&nbsp;Underwritten Cash Flows |
| &nbsp;&nbsp;UW NOI | &nbsp;&nbsp;Underwritten Cash Flows |
| &nbsp;&nbsp;UW FF&E | &nbsp;&nbsp;Underwritten Cash Flows |
| &nbsp;&nbsp;UW NCF | &nbsp;&nbsp;Underwritten Cash Flows |
| &nbsp;&nbsp;UW Management Fee % | &nbsp;&nbsp;Underwritten Cash Flows |
| &nbsp;&nbsp;UW FF&E Reserves % | &nbsp;&nbsp;Underwritten Cash Flows |
| &nbsp;&nbsp;UW Hotel ADR | &nbsp;&nbsp;Underwritten Cash Flows |
| &nbsp;&nbsp;UW Hotel RevPAR | &nbsp;&nbsp;Underwritten Cash Flows |
| &nbsp;&nbsp;2023 Budget Revenues | &nbsp;&nbsp;Underwritten Cash Flows |
| &nbsp;&nbsp;2023 Budget Expenses | &nbsp;&nbsp;Underwritten Cash Flows |
| &nbsp;&nbsp;2023 Budget NOI | &nbsp;&nbsp;Underwritten Cash Flows |
| &nbsp;&nbsp;2023 Budget FF&E | &nbsp;&nbsp;Underwritten Cash Flows |
| &nbsp;&nbsp;2023 Budget NCF | &nbsp;&nbsp;Underwritten Cash Flows |
| &nbsp;&nbsp;2023 Budget Hotel ADR | &nbsp;&nbsp;Underwritten Cash Flows |
| &nbsp;&nbsp;2023 Budget Hotel RevPAR | &nbsp;&nbsp;Underwritten Cash Flows |
| &nbsp;&nbsp;Most Recent Period Description | &nbsp;&nbsp;Underwritten Cash Flows |
| &nbsp;&nbsp;Most Recent Revenues | &nbsp;&nbsp;Underwritten Cash Flows |
| &nbsp;&nbsp;Most Recent Expenses | &nbsp;&nbsp;Underwritten Cash Flows |
| &nbsp;&nbsp;Most Recent NOI | &nbsp;&nbsp;Underwritten Cash Flows |
| &nbsp;&nbsp;Most Recent FF&E | &nbsp;&nbsp;Underwritten Cash Flows |
| &nbsp;&nbsp;Most Recent NCF | &nbsp;&nbsp;Underwritten Cash Flows |
| &nbsp;&nbsp;Most Recent Hotel ADR | &nbsp;&nbsp;Underwritten Cash Flows |
| &nbsp;&nbsp;Most Recent Hotel RevPAR | &nbsp;&nbsp;Underwritten Cash Flows |

---

**ATTACHMENT A**

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Attribute** | &nbsp;&nbsp;**Source Document(s)** |
| &nbsp;&nbsp;Second Most Recent Period Description | &nbsp;&nbsp;Underwritten Cash Flows |
| &nbsp;&nbsp;Second Most Recent Revenues | &nbsp;&nbsp;Underwritten Cash Flows |
| &nbsp;&nbsp;Second Most Recent Expenses | &nbsp;&nbsp;Underwritten Cash Flows |
| &nbsp;&nbsp;Second Most Recent NOI | &nbsp;&nbsp;Underwritten Cash Flows |
| &nbsp;&nbsp;Second Most Recent FF&E | &nbsp;&nbsp;Underwritten Cash Flows |
| &nbsp;&nbsp;Second Most Recent NCF | &nbsp;&nbsp;Underwritten Cash Flows |
| &nbsp;&nbsp;Second Most Recent Hotel ADR | &nbsp;&nbsp;Underwritten Cash Flows |
| &nbsp;&nbsp;Second Most Recent Hotel RevPAR | &nbsp;&nbsp;Underwritten Cash Flows |
| &nbsp;&nbsp;Third Most Recent Period Description | &nbsp;&nbsp;Underwritten Cash Flows |
| &nbsp;&nbsp;Third Most Recent Revenues | &nbsp;&nbsp;Underwritten Cash Flows |
| &nbsp;&nbsp;Third Most Recent Expenses | &nbsp;&nbsp;Underwritten Cash Flows |
| &nbsp;&nbsp;Third Most Recent NOI | &nbsp;&nbsp;Underwritten Cash Flows |
| &nbsp;&nbsp;Third Most Recent FF&E | &nbsp;&nbsp;Underwritten Cash Flows |
| &nbsp;&nbsp;Third Most Recent NCF | &nbsp;&nbsp;Underwritten Cash Flows |
| &nbsp;&nbsp;Third Most Recent Hotel ADR | &nbsp;&nbsp;Underwritten Cash Flows |
| &nbsp;&nbsp;Third Most Recent Hotel RevPAR | &nbsp;&nbsp;Underwritten Cash Flows |
| &nbsp;&nbsp;Lien Position | &nbsp;&nbsp;Title Policy |
| &nbsp;&nbsp;Title Vesting (Fee/Leasehold/Both) | &nbsp;&nbsp;Title Policy |
| &nbsp;&nbsp;Type of Lockbox | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;Engineering Escrow/Deferred Maintenance (Initial) | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;Environmental Escrow (Initial) | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;Springing Environmental Escrow Description | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;Tax Escrow (Initial) | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;Tax Escrow (Monthly) | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;Springing Tax Escrow Description | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;Insurance Escrow (Initial) | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;Insurance Escrow (Monthly) | &nbsp;&nbsp;Draft Loan Agreement |

---

**ATTACHMENT A**

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Attribute** | &nbsp;&nbsp;**Source Document(s)** |
| &nbsp;&nbsp;Springing Insurance Escrow Description | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;Replacement Reserve (Initial) | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;Replacement Reserve (Monthly) | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;Springing Replacement Reserve Description | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;FF&E Reserve (Initial) | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;FF&E Reserve (Monthly) | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;Springing FF&E Reserve Description | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;Other Escrow I Reserve Description | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;Other Escrow I (Initial) | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;Other Escrow I (Monthly) | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;Springing Other Escrow I Reserve Description | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;Pari Passu Debt (Y/N) | &nbsp;&nbsp;Draft Loan Agreement, Promissory Note |
| &nbsp;&nbsp;Total Pari Passu Cut-Off Date Principal Balance | &nbsp;&nbsp;Draft Loan Agreement, Promissory Note, Servicing Report |
| &nbsp;&nbsp;Existing Subordinate Secured Debt (Y/N) | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;Sub Sec Debt Description | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;Sub Sec Debt Original Principal Balance | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;Sub Sec Debt Cut-Off Date Principal Balance | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;Existing Mezzanine Debt (Y/N) | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;Mezzanine Debt Cut-Off Date Principal Balance | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;Existing Unsecured Debt (Y/N) | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;Unsecured Debt Cut-Off Date Principal Balance | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;Future Secured Debt Permitted (Y/N) | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;Future Mezzanine Debt Permitted (Y/N) | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;Future Unsecured Debt Permitted (Y/N) | &nbsp;&nbsp;Draft Loan Agreement |
| &nbsp;&nbsp;Environmental Phase I Report Firm | &nbsp;&nbsp;Phase I Report |
| &nbsp;&nbsp;Environmental Phase I Report Date | &nbsp;&nbsp;Phase I Report |

---

**ATTACHMENT A**

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Attribute** | &nbsp;&nbsp;**Source Document(s)** |
| &nbsp;&nbsp;Phase II Performed | &nbsp;&nbsp;Phase II Report |
| &nbsp;&nbsp;Engineering Report Firm | &nbsp;&nbsp;PCA |
| &nbsp;&nbsp;Engineering Report Date | &nbsp;&nbsp;PCA |
| &nbsp;&nbsp;Seismic Report Firm | &nbsp;&nbsp;Seismic Report, PCA |
| &nbsp;&nbsp;Seismic Report Date | &nbsp;&nbsp;Seismic Report, PCA |
| &nbsp;&nbsp;Seismic PML % | &nbsp;&nbsp;Seismic Report, PCA |
| &nbsp;&nbsp;Seismic Insurance Required and Obtained if PML >= 20% (Y/N) | &nbsp;&nbsp;Insurance Certificate |
| &nbsp;&nbsp;Single-Tenant (Y/N) | &nbsp;&nbsp;Underwritten Rent Roll; Rent Exhibit.docx |
| &nbsp;&nbsp;Largest Tenant Name | &nbsp;&nbsp;Underwritten Rent Roll; Rent Exhibit.docx |
| &nbsp;&nbsp;Largest Tenant SqFt | &nbsp;&nbsp;Underwritten Rent Roll; Rent Exhibit.docx; Master Lease |
| &nbsp;&nbsp;Largest Tenant Exp. Date | &nbsp;&nbsp;Underwritten Rent Roll; Rent Exhibit.docx; Master Lease |

---

**ATTACHMENT B**

**RECOMPUTED ATTRIBUTES**

---

| | |
|:---|:---|
| &nbsp;&nbsp;<br> **Attribute** | &nbsp;&nbsp;**Calculation Methodology** |
| &nbsp;&nbsp;Monthly Debt Service Amount | &nbsp;&nbsp;Loan Level Cut-Off Date Balance multiplied by Interest Accrual Basis multiplied by Interest Rate |
| &nbsp;&nbsp;Interest Rate | &nbsp;&nbsp;The sum of Mortgage Loan Spread and Assumed SOFR rounded by the respective rounding factor subject to (i) Index Floor % plus Mortgage Loan Spread (ii) and Interest Rate at Cap |
| &nbsp;&nbsp;Interest Rate at Cap | &nbsp;&nbsp;Mortgage Loan Spread plus SOFR Cap |
| &nbsp;&nbsp;Loan Term (Remaining) | &nbsp;&nbsp;Loan Term (Original) minus Seasoning |
| &nbsp;&nbsp;Seasoning | &nbsp;&nbsp;Number of payments between and including the First Payment Date and the Cut-Off Date |
| &nbsp;&nbsp;LTV Adjustment Amount | &nbsp;&nbsp;Difference between LTV Ratio at Maturity or ARD and Cut-Off Date LTV Ratio |
| &nbsp;&nbsp;Cut-Off Date LTV Ratio | &nbsp;&nbsp;Loan Level Cut-Off Date Balance divided by As-Is Appraised Value |
| &nbsp;&nbsp;LTV Ratio at Maturity or ARD | &nbsp;&nbsp;Balloon Payment divided by As-Stabilized Appraised Value |
| &nbsp;&nbsp;UW NCF DSCR | &nbsp;&nbsp;UW NCF divided by the product of i) Loan Level Cut-off Date Balance ii) Interest Rate and iii) Interest Accrual Basis |
| &nbsp;&nbsp;Most Recent NCF DSCR | &nbsp;&nbsp;Most Recent NCF divided by the product of i) Loan Level Cut-off Date Balance ii) Interest Rate and iii) Interest Accrual Basis |
| &nbsp;&nbsp;UW NCF DSCR at Cap | &nbsp;&nbsp;UW NCF divided by the product of i) Loan Level Cut-off Date Balance ii) Interest Rate at Cap and iii) Interest Accrual Basis |
| &nbsp;&nbsp;Most Recent NCF DSCR at Cap | &nbsp;&nbsp;Most Recent NCF divided by the product of i) Loan Level Cut-off Date Balance ii) Interest Rate at Cap and iii) Interest Accrual Basis |
| &nbsp;&nbsp;Cut-Off Date UW NOI Debt Yield | &nbsp;&nbsp;UW NOI divided by Loan Level Cut-Off Date Balance |
| &nbsp;&nbsp;Cut-Off Date UW NCF Debt Yield | &nbsp;&nbsp;UW NCF divided by Loan Level Cut-Off Date Balance |
| &nbsp;&nbsp;Trust Component % of Pari Passu | &nbsp;&nbsp;Loan Level Cut-Off Date Balance divided by Total Pari Passu Cut-Off Date Principal Balance, but shown as NAP if there are no pari passu notes |

---