# EDGAR Filing Document

**Accession Number:** 0001712870
**File Stem:** 0001539497-23-000395
**Filing Date:** 2023-3
**Character Count:** 39816
**Document Hash:** a6b7bef881bd4f2c2672b9b526e9e960
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001539497-23-000395.hdr.sgml**: 20230309

**ACCESSION NUMBER**: 0001539497-23-000395

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

**PUBLIC DOCUMENT COUNT**: 4

**CONFORMED PERIOD OF REPORT**: 20230309

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

**FILED AS OF DATE**: 20230309

**DATE AS OF CHANGE**: 20230309

**ABS RULE**: RULE-15GA2

**REGISTERED ENTITY**: N

**ABS ASSET CLASS**: Commercial mortgages

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Lument Commercial Mortgage Trust
- **CENTRAL INDEX KEY:** 0001712870
- **IRS NUMBER:** 326477199
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** ABS-15G
- **SEC ACT:** Dodd Frank Act
- **SEC FILE NUMBER:** 025-03425
- **FILM NUMBER:** 23719513

**BUSINESS ADDRESS:**
- **STREET 1:** C/O LUMENT FINANCE TRUST, INC.
- **STREET 2:** 230 PARK AVENUE, 23RD FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10169
- **BUSINESS PHONE:** 212-521-6323

**MAIL ADDRESS:**
- **STREET 1:** C/O LUMENT FINANCE TRUST, INC.
- **STREET 2:** 230 PARK AVENUE, 23RD FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10169

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Lument Commercial Mortgage Trust, Inc
- **DATE OF NAME CHANGE:** 20210210

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Hunt Commercial Mortgage Trust
- **DATE OF NAME CHANGE:** 20170725
**DEPOSITOR**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Lument Commercial Mortgage Trust
- **CENTRAL INDEX KEY:** 0001712870
- **IRS NUMBER:** 326477199
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

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

**BUSINESS ADDRESS:**
- **STREET 1:** C/O LUMENT FINANCE TRUST, INC.
- **STREET 2:** 230 PARK AVENUE, 23RD FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10169
- **BUSINESS PHONE:** 212-521-6323

**MAIL ADDRESS:**
- **STREET 1:** C/O LUMENT FINANCE TRUST, INC.
- **STREET 2:** 230 PARK AVENUE, 23RD FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10169

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Lument Commercial Mortgage Trust, Inc
- **DATE OF NAME CHANGE:** 20210210

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Hunt Commercial Mortgage Trust
- **DATE OF NAME CHANGE:** 20170725
**SECURITIZER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Lument Commercial Mortgage Trust
- **CENTRAL INDEX KEY:** 0001712870
- **IRS NUMBER:** 326477199
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** ABS-15G
- **SEC ACT:** Dodd Frank Act
- **SEC FILE NUMBER:** 025-03425

**BUSINESS ADDRESS:**
- **STREET 1:** C/O LUMENT FINANCE TRUST, INC.
- **STREET 2:** 230 PARK AVENUE, 23RD FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10169
- **BUSINESS PHONE:** 212-521-6323

**MAIL ADDRESS:**
- **STREET 1:** C/O LUMENT FINANCE TRUST, INC.
- **STREET 2:** 230 PARK AVENUE, 23RD FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10169

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Lument Commercial Mortgage Trust, Inc
- **DATE OF NAME CHANGE:** 20210210

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Hunt Commercial Mortgage Trust
- **DATE OF NAME CHANGE:** 20170725

**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 <br> 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) [_]

[ü] Rule 15Ga-2 under the Exchange Act (17 CFR 240.15Ga-2)

Central Index Key Number of depositor: 0001712870

<u>LMNT CRE 2023-FL2, LLC</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>Monica Medrano, (212) 468-5889</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**

See Independent Accountants' Agreed-Upon Procedures Report, dated March 9, 2023, of KPMG LLP, which was obtained by the sponsor, attached as <u>Exhibit 99.1</u> to this Form ABS-15G, which report sets forth the findings and conclusions, as applicable, of KPMG LLP with respect to certain agreed-upon procedures performed by KPMG LLP.

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.

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;Date: March 9, 2023 | Lument Commercial Mortgage Trust | Lument Commercial Mortgage Trust | Lument Commercial Mortgage Trust |
|  | By: | /s/ **Michael Larsen** | /s/ **Michael Larsen** |
|  |  | Name: | Michael Larsen |
|  |  | Title: | President |

---

Exhibit 99.1 Independent Accountants' Agreed-Upon Procedures Report, dated March 9, 2023, of KPMG LLP.

## Exhibit 99.1

**Exhibit 99.1**

---

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

---

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

Lument Finance Trust, Inc. (the "Company")<br> J.P. Morgan Securities LLC<br> (together, the "Specified Parties")

Re: LMNT CRE 2023-FL2, LLC – Data File Procedures

We have performed the procedures described below on the specified attributes in an electronic data file entitled "LMNT 2023-FL2 Accounting Tape.xlsx" provided by the Company on March 9, 2023 (the "Data File"), containing information on 27 mortgage assets and 35 related mortgaged properties as of March 6, 2023 (the "Cut-off Date"), which we were informed are intended to be included as collateral in the offering by LMNT CRE 2023-FL2, LLC. 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.

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

· 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.

KPMG LLP is a Delaware limited liability partnership and the U.S. member firm of<br> the KPMG global organization of independent member firms affiliated with<br> KPMG International Limited,a private English Company limited by guarantee.

![](kpmglogo2.jpg)

· 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 4.500% which we were instructed to use by the Company where applicable
in the Calculation Methodology.

· The term "Assumed LIBOR" means the 1-month LIBOR rate of 4.500% 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, Assumed LIBOR,
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, utilizing the Instructions,
as applicable. 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, utilizing the Instructions as applicable,
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, (ii)
the Calculation Methodology, and (iii) the Instructions.

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.

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 assets and related mortgaged properties, (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 assets to stated underwriting or credit extension guidelines, standards, criteria or other requirements, (ii) the value of collateral securing any such mortgage assets being securitized, (iii) the

**2**![](kpmglogo2.jpg)

compliance of the originator of the mortgage assets with federal, state, and local laws and regulations, or (iv) any other factor or characteristic of the mortgage assets and related mortgaged properties that would be material to the likelihood that the issuer of the securities 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, Virginia<br> March 9, 2023

**3**![](kpmglogo2.jpg)

**COMPARED ATTRIBUTES**

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| | |
|:---|:---|
| **Attribute** | **Source Document(s)** |
| Property Address | Appraisal |
| Property City | Appraisal |
| Property State | Appraisal |
| Property Zip Code | Appraisal |
| Property County | Appraisal |
| Year Built | Appraisal/Engineering Report |
| Year Renovated | Appraisal/Engineering Report |
| Property Type | Appraisal |
| Specific Property Type | Appraisal |
| No of Units | Underwritten Rent Roll/Certified Rent Roll/Appraisal |
| Unit of Measure | Underwritten Rent Roll/Certified Rent Roll |
| Occupancy % | Underwritten Rent Roll/Certified Rent Roll |
| Occupancy Source Date | Underwritten Rent Roll/Certified Rent Roll |
| Loan Purpose (Acquisition, Refinance, DPO) | Settlement Statement/Sale Purchase Agreement |
| Assumed Loan (Y/N) | Loan Agreement/Promissory Note |
| Borrower Name | Loan Agreement/Promissory Note |
| Principals (Individuals) | Loan Agreement/Promissory Note/Guaranty Agreement |
| Related Borrower (Y/N) | Loan Agreement/Promissory Note/Guaranty Agreement |
| Note Date | Loan Agreement/Promissory Note |
| First Payment Date | Loan Agreement/Promissory Note |
| Commitment Original Balance ($) | Loan Agreement/Promissory Note |
| Initial Funded Amount ($) | Loan Agreement/Promissory Note |
| Future Funding Trigger / Requirements | Loan Agreement/Promissory Note |
| Earn-Out Amount ($) | Loan Agreement/Promissory Note |
| Earn-Out Trigger / Requirements | Loan Agreement/Promissory Note |

---

---

| | |
|:---|:---|
| ![](kpmglogo2.jpg) | **ATTACHMENT A** |

---

---

| | |
|:---|:---|
| **Attribute** | **Source Document(s)** |
| Mortgage Loan Cut-off Date Balance ($) | Servicing Tape/Settlement Statement |
| B Note Amount ($) | Provided by the Company |
| Mortgage Asset Contributed Cut-off Date Balance ($) | Provided by the Company |
| ARD Loan (Y/N) | Loan Agreement/Promissory Note |
| Initial Maturity Date or Anticipated Repayment Date | Loan Agreement/Promissory Note |
| Extension Options | Loan Agreement/Promissory Note |
| Extension Options Description | Loan Agreement/Promissory Note |
| First Extension Fee % | Loan Agreement/Promissory Note |
| First Extension Period (Months) | Loan Agreement/Promissory Note |
| First Extension Floor | Loan Agreement/Promissory Note |
| First Extension Cap | Loan Agreement/Promissory Note |
| Second Extension Fee % | Loan Agreement/Promissory Note |
| Second Extension Period (Months) | Loan Agreement/Promissory Note |
| Second Extension Floor | Loan Agreement/Promissory Note |
| Second Extension Cap | Loan Agreement/Promissory Note |
| Third Extension Fee % | Loan Agreement/Promissory Note |
| Third Extension Period (Months) | Loan Agreement/Promissory Note |
| Third Extension Floor | Loan Agreement/Promissory Note |
| Third Extension Cap | Loan Agreement/Promissory Note |
| Exit Fee % / Deferred Origination Fee (%) | Loan Agreement/Promissory Note |
| Fully Extended Maturity Date | Loan Agreement/Promissory Note |
| Rate Type | Loan Agreement/Promissory Note |
| Index for Floating Rate | Loan Agreement/Promissory Note |
| Fully Funded Mortgage Loan Margin % | Loan Agreement/Promissory Note |
| ARD Mortgage Rate After ARD and extension periods | Loan Agreement/Promissory Note |
| Rate Step Up Post ARD Commencement Date | Loan Agreement/Promissory Note |
| ARD Loan Fully Extended Maturity Date | Loan Agreement/Promissory Note |

---

---

| | |
|:---|:---|
| ![](kpmglogo2.jpg) | **ATTACHMENT A** |

---

---

| | |
|:---|:---|
| **Attribute** | **Source Document(s)** |
| Rounding Factor (4) | Loan Agreement/Promissory Note |
| Time of Rounding (Before Spread, After Spread) | Loan Agreement/Promissory Note |
| Rounding Direction | Loan Agreement/Promissory Note |
| Lookback Period | Loan Agreement/Promissory Note |
| Index Cap Provider | Rate Cap Confirmation |
| Index Cap Provider Rating (Moody/S&P/Fitch) | Bloomberg Screenshot |
| Index Floor % | Loan Agreement/Promissory Note |
| Index Cap Strike Price % | Rate Cap Confirmation/Loan Agreement |
| Interest Accrual Basis | Loan Agreement/Promissory Note |
| Interest Rate Change | Loan Agreement/Promissory Note |
| Interest Rate Change Amount | Loan Agreement/Promissory Note |
| Interest Rate Change Trigger | Loan Agreement/Promissory Note |
| Grace Period Default (Days) | Loan Agreement/Promissory Note |
| Grace Period Late (Days) | Loan Agreement/Promissory Note |
| Grace Period Balloon (Days) | Loan Agreement/Promissory Note |
| Original Prepayment Provision | Loan Agreement/Promissory Note |
| Remaining Prepayment Provision | Loan Agreement/Promissory Note |
| Partial Release and/or Partial Prepayment (Y/N) | Loan Agreement/Promissory Note |
| Partial Release and/or Prepayment Description | Loan Agreement/Promissory Note |
| Amortization Type During Initial Term | Loan Agreement/Promissory Note |
| Amortization Type During Extensions | Loan Agreement/Promissory Note |
| Amortization Type | Loan Agreement/Promissory Note |
| Amort Number of Months | Loan Agreement/Promissory Note |
| Appraisal Valuation Date | Appraisal |
| As-Is Appraised Value | Appraisal |
| Stabilized Appraised Value | Appraisal |
| Appraisal Anticipated Stabilization Date | Appraisal |

---

---

| | |
|:---|:---|
| ![](kpmglogo2.jpg) | **ATTACHMENT A** |

---

---

| | |
|:---|:---|
| **Attribute** | **Source Document(s)** |
| USPAP Appraisal (Y/N) | Appraisal |
| FIRREA Appraisal (Y/N) | Appraisal |
| Third Most Recent As Of Date | Underwritten Cash Flow Statement |
| Third Most Recent Actual Revenues | Underwritten Cash Flow Statement |
| Third Most Recent Actual Expenses | Underwritten Cash Flow Statement |
| Third Most Recent Actual NOI | Underwritten Cash Flow Statement |
| Third Most Recent Actual NCF | Underwritten Cash Flow Statement |
| Second Most Recent As Of Date | Underwritten Cash Flow Statement |
| Second Most Recent Actual Revenues | Underwritten Cash Flow Statement |
| Second Most Recent Actual Expenses | Underwritten Cash Flow Statement |
| Second Most Recent Actual NOI | Underwritten Cash Flow Statement |
| Second Most Recent Actual NCF | Underwritten Cash Flow Statement |
| Most Recent As Of Date | Underwritten Cash Flow Statement |
| Most Recent Actual Revenues | Underwritten Cash Flow Statement |
| Most Recent Actual Expenses | Underwritten Cash Flow Statement |
| Most Recent Actual NOI | Underwritten Cash Flow Statement |
| Most Recent Actual NCF | Underwritten Cash Flow Statement |
| Underwritten Occupancy % | Underwritten Cash Flow Statement |
| Underwritten Revenues | Underwritten Cash Flow Statement |
| Underwritten Expenses | Underwritten Cash Flow Statement |
| Underwritten NOI | Underwritten Cash Flow Statement |
| Underwritten Reserves | Underwritten Cash Flow Statement |
| Underwritten NCF | Underwritten Cash Flow Statement |
| Underwritten Stabilized Occupancy % | Underwritten Cash Flow Statement |
| Underwritten Stabilized Revenues | Underwritten Cash Flow Statement |
| Underwritten Stabilized Expenses | Underwritten Cash Flow Statement |
| Underwritten Stabilized NOI | Underwritten Cash Flow Statement |

---

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| | |
|:---|:---|
| ![](kpmglogo2.jpg) | **ATTACHMENT A** |

---

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| | |
|:---|:---|
| **Attribute** | **Source Document(s)** |
| Underwritten Stabilized Reserves | Underwritten Cash Flow Statement |
| Underwritten Stabilized NCF | Underwritten Cash Flow Statement |
| Appraisal Stabilized Occupancy % | Underwritten Cash Flow Statement |
| Appraisal Stabilized Revenues | Underwritten Cash Flow Statement |
| Appraisal Stabilized Expenses | Underwritten Cash Flow Statement |
| Appraisal Stabilized NOI | Underwritten Cash Flow Statement |
| Appraisal Stabilized Reserves | Underwritten Cash Flow Statement |
| Appraisal Stabilized NCF | Underwritten Cash Flow Statement |
| Lien Position | Title Policy |
| Full Recourse (Y/N/Partial) | Guaranty Agreement/Loan Agreement |
| Recourse Provisions | Guaranty Agreement/Loan Agreement |
| Recourse Carveout Guarantor | Guaranty Agreement/Loan Agreement |
| Title Vesting (Fee/Leasehold/Both) | Title Policy |
| Ground Lease Payment (Annual) | Ground Lease/Estoppel |
| Ground Lease Initial Expiration Date | Ground Lease/Estoppel |
| Ground Lease Extension (Y/N) | Ground Lease/Estoppel |
| # of Ground Lease Extension Options | Ground Lease/Estoppel |
| Ground Lease Expiration Date with Extension | Ground Lease/Estoppel |
| Type of Lockbox | Loan Agreement/Cash Management Agreement |
| Cash Management (Springing/In-place) | Loan Agreement/Cash Management Agreement |
| Lockbox Trigger Event | Loan Agreement/Cash Management Agreement |
| Engineering/Deferred Maintenance Escrow (Cut-off Date) | Servicing Tape |
| Environmental Escrow (Cut-off Date) | Servicing Tape |
| Tax Escrow (Cut-off Date) | Servicing Tape |
| Tax Escrow (Monthly) | Servicing Tape |
| Springing Tax Escrow Description | Loan Agreement/Promissory Note |
| Insurance Escrow (Cut-off Date) | Servicing Tape |

---

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| | |
|:---|:---|
| ![](kpmglogo2.jpg) | **ATTACHMENT A** |

---

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| | |
|:---|:---|
| **Attribute** | **Source Document(s)** |
| Insurance Escrow (Monthly) | Servicing Tape |
| Springing Insurance Escrow Description | Loan Agreement/Promissory Note |
| Replacement Reserve (Cut-off Date) | Servicing Tape |
| Replacement Reserve (Monthly) | Servicing Tape/Loan Agreement |
| Springing Replacement Reserve Description | Loan Agreement/Promissory Note |
| TI/LC Reserve (Cut-off Date) | Servicing Tape |
| Monthly TI/LC Reserve ($) | Servicing Tape/Loan Agreement |
| Springing TI/LC Reserve Description | Loan Agreement/Promissory Note |
| Initial Capital Improvement Reserve | Settlement Statement |
| Cut-off Capital Improvement Reserve | Servicing Tape |
| Capital Improvement Reserve (Monthly) | Servicing Tape/Loan Agreement |
| Cut-off Other Reserve 1 ($) | Servicing Tape |
| Other Escrow 1 (Monthly) | Servicing Tape/Loan Agreement |
| Other (Springing) Escrow Reserve 1 Description (1) | Loan Agreement/Promissory Note |
| Cut-off Other Reserve 2 ($) | Servicing Tape |
| Other Escrow 2 (Monthly) | Servicing Tape/Loan Agreement |
| Other (Springing) Escrow Reserve 2 Description (1) | Loan Agreement/Promissory Note |
| Cut-off Other Reserve 3 ($) | Servicing Tape |
| Other Escrow 3 (Monthly) | Servicing Tape/Loan Agreement |
| Other (Springing) Escrow Reserve 3 Description (1) | Loan Agreement/Promissory Note |
| Engineering Report Date | Engineering Report |
| Environmental Report Date (Phase I) | Environmental Report |
| Environmental Report Date (Phase II) | Environmental Report |
| Environmental Insurance (Y/N) | Insurance Binder |
| Seismic Report Date | Seismic Report/Engineering Report |
| Seismic PML % | Seismic Report/Engineering Report |
| Seismic Insurance Obtained if PML >= 20% (Y/N) | Seismic Report/Engineering Report |

---

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| | |
|:---|:---|
| ![](kpmglogo2.jpg) | **ATTACHMENT A** |

---

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| | |
|:---|:---|
| **Attribute** | **Source Document(s)** |
| Single-Tenant (Y/N) | Underwritten Rent Roll Statement |
| Property Manager | Management Agreement/Loan Agreement |
| TIC (Y/N) | Loan Agreement/TIC Agreement |
| Max Number of TICs | Loan Agreement/TIC Agreement |
| Single Purpose Borrower (Y/N) | Loan Agreement/Promissory Note |
| Independent Director (Y/N) | Loan Agreement/Promissory Note |
| Borrower Non Consolidation Opinion (Y/N) | Non Consolidation Opinion |
| DST (Y/N) | Loan Agreement/Promissory Note |
| IDOT (Y/N) | Loan Agreement/Promissory Note |
| Largest Tenant Name | Underwritten Rent Roll Statement |
| Largest Tenant SqFt | Underwritten Rent Roll Statement |
| Largest Tenant Exp Date | Underwritten Rent Roll Statement |
| 2nd Largest Tenant Name | Underwritten Rent Roll Statement |
| 2nd Largest Tenant SqFt | Underwritten Rent Roll Statement |
| 2nd Largest Tenant Exp Date | Underwritten Rent Roll Statement |
| 3rd Largest Tenant Name | Underwritten Rent Roll Statement |
| 3rd Largest Tenant SqFt | Underwritten Rent Roll Statement |
| 3rd Largest Tenant Exp Date | Underwritten Rent Roll Statement |
| 4th Largest Tenant Name | Underwritten Rent Roll Statement |
| 4th Largest Tenant Sqft | Underwritten Rent Roll Statement |
| 4th Largest Tenant Exp Date | Underwritten Rent Roll Statement |
| 5th Largest Tenant Name | Underwritten Rent Roll Statement |
| 5th Largest Tenant Sqft | Underwritten Rent Roll Statement |
| 5th Largest Tenant Exp Date | Underwritten Rent Roll Statement |
| Senior Debt Amount | Loan Agreement/Promissory Note |
| Senior Debt Holder | Loan Agreement/Promissory Note |
| Rate | Loan Agreement/Promissory Note |

---

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| | |
|:---|:---|
| ![](kpmglogo2.jpg) | **ATTACHMENT A** |

---

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| | |
|:---|:---|
| **Attribute** | **Source Document(s)** |
| Floor | Loan Agreement/Promissory Note |
| Maturity | Loan Agreement/Promissory Note |
| Amort | Loan Agreement/Promissory Note |
| In-place Senior Debt Service | Loan Agreement/Promissory Note |
| As Stabilized Senior Debt Service | Loan Agreement/Promissory Note |
| Cut-off Date Subordinate Debt/Mezz Loan Bal ($) | Servicing Tape/Settlement Statement/Loan Agreement |
| Permitted Future Debt (Y/N) | Loan Agreement/Promissory Note |
| Type | Loan Agreement/Promissory Note |

---

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| | |
|:---|:---|
| ![](kpmglogo2.jpg) | **ATTACHMENT B** |

---

**RECOMPUTED ATTRIBUTES**

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| | |
|:---|:---|
| **Attribute** | **Calculation Methodology** |
| Annual Debt Service Payment (IO) | Mortgage Asset Contributed Balance Cut-Off Date Balance ($) multiplied by Interest Accrual Basis multiplied by Fully Funded Mortgage Loan Rate % |
| Annual Debt Service Payment (P&I) | Mortgage Asset Contributed Balance Cut-Off Date Balance ($) multiplied by Interest Accrual Basis multiplied by Fully Funded Mortgage Loan Rate % |
| Annual Debt Service Payment (Cap) | Mortgage Asset Contributed Balance Cut-Off Date Balance ($) multiplied by Interest Accrual Basis multiplied by Mortgage Rate Cap |
| Cut-off Date Future Funding Remaining Balance ($) | Commitment Original Balance ($) minus Mortgage Loan Cut-off Date Balance ($) |
| Mortgage Loan % of Total Cut-off Date Balance | Mortgage Loan Cut-off Date Balance ($) divided by the aggregate Mortgage Loan Cut-off Date Balance ($) of all Mortgage Loans |
| Pari Passu Cut-off Date Amount | Mortgage Loan Cut-off Date Balance ($) minus Mortgage Asset Contributed Balance Cut-Off Date Balance ($) |
| Mortgage Asset % of Total Cut-off Date Balance | Mortgage Asset Contributed Cut-off Date Balance ($) divided by the aggregate Mortgage Asset Contributed Cut-off Date Balance ($) of all Mortgage Loans |
| Mortgage Loan Balloon Payment ($) | Set to equal Commitment Original Balance ($) |
| Mortgage Loan Cut-off Date Balance / Unit ($) | Mortgage Loan Cut-off Date Balance ($) divided by No of Units |
| Committed Mortgage Loan Cut-off Date Balance / Unit ($) | Commitment Original Balance ($) divided by No of Units |
| Mortgage Loan Balloon Payment / Unit ($) | Mortgage Loan Balloon Payment ($) divided by No of Units |
| Initial Loan Term (Original) | Number of payments between the Initial Maturity Date or Anticipated Repayment Date and Cut-off Date |
| Cut-off Date Initial Loan Term (Remaining) | Initial Loan Term (Original) minus Cut-off Date Seasoning |
| Cut-off Date Seasoning | Number of payments between the First Payment Date and Cut-off Date |

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|:---|:---|
| ![](kpmglogo2.jpg) | **ATTACHMENT B** |

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| | |
|:---|:---|
| **Attribute** | **Calculation Methodology** |
| First Extension Fee ($) | First Extension Fee % multiplied by Commitment Original Balance ($) |
| Second Extension Fee ($) | Second Extension Fee % multiplied by Commitment Original Balance ($) |
| Third Extension Fee ($) | Third Extension Fee % multiplied by Commitment Original Balance ($) |
| Exit Fee ($) / Deferred Origination Fee ($) | Exit Fee % / Deferred Origination Fee (%) multiplied by Commitment Original Balance ($) |
| Fully Extended Loan Term (Original) | Number of payments between the First Payment Date and Fully Extended Maturity Date |
| Fully Extended Loan Term (Remaining) | Fully Extended Loan Term (Original) minus Cut-off Date Seasoning |
| Mortgage Rate Floor | Fully Funded Mortgage Loan Margin % plus Index Floor % |
| Mortgage Rate Cap | Fully Funded Mortgage Loan Margin % plus Index Cap Strike Price % |
| Fully Funded Mortgage Loan Rate % | The sum of the Fully Funded Mortgage Loan Margin % and Assumed SOFR or Assumed LIBOR as applicable, rounded by the respective rounding factor subject to (i) Mortgage Rate Floor and (ii) Mortgage Rate Cap |
| B Note / Mezz Loan % | B Note Amount ($) divided by Commitment Original Balance ($) |
| IO Number of Months | Set to equal Initial Loan Term (Original) |
| Mortgage Asset Cut-off Date (As-Is) LTV Ratio | Mortgage Loan Cut-off Date Balance ($) less B Note Amount ($), divided by As-Is Appraised Value |
| Mortgage Asset Cut-off Date (As-Is) Net of Initial CapEx LTV Ratio | Mortgage Loan Cut-off Date Balance ($) less B Note Amount ($) less Initial Capital Improvement Reserve, divided by As-Is Appraised Value |
| Fully Funded Senior Loan (Stabilized) LTV Ratio | Commitment Original Balance ($) less B Note Amount ($), divided by Stabilized Appraised Value |
| Maturity Date Stabilized LTV Ratio | Mortgage Loan Balloon Payment ($) less B Note Amount ($), divided by Stabilized Appraised Value |

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|:---|:---|
| ![](kpmglogo2.jpg) | **ATTACHMENT B** |

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| | |
|:---|:---|
| **Attribute** | **Calculation Methodology** |
| Mortgage Loan Most Recent NOI DSCR | Most Recent Actual NOI divided by the product of i) Mortgage Loan Cut-off Date Balance ($) less B Note Amount ($), ii) Fully Funded Mortgage Loan Rate %, and iii) Interest Accrual Basis |
| Mortgage Loan Most Recent NCF DSCR | Most Recent Actual NCF divided by the product of i) Mortgage Loan Cut-off Date Balance ($) less B Note Amount ($), ii) Fully Funded Mortgage Loan Rate %, and iii) Interest Accrual Basis |
| Cut-off Date Mortgage Loan Most Recent NOI Debt Yield | Most Recent Actual NOI divided by Mortgage Loan Cut-off Date Balance ($) less B Note Amount ($) |
| Cut-off Date Mortgage Loan Most Recent NCF Debt Yield | Most Recent Actual NCF divided by Mortgage Loan Cut-off Date Balance ($) less B Note Amount ($) |
| Mortgage Loan Underwritten NOI DSCR | Underwritten NOI divided by the product of i) Mortgage Loan Cut-off Date Balance ($) less B Note Amount ($), ii) Fully Funded Mortgage Loan Rate %, and iii) Interest Accrual Basis |
| Mortgage Loan Underwritten NCF DSCR | Underwritten NCF divided by the product of i) Mortgage Loan Cut-off Date Balance ($) less B Note Amount ($), ii) Fully Funded Mortgage Loan Rate %, and iii) Interest Accrual Basis |
| Cut-off Date Mortgage Loan Underwritten NOI Debt Yield | Underwritten NOI divided by Mortgage Loan Cut-off Date Balance ($) less B Note Amount ($) |
| Cut-off Date Mortgage Loan Underwritten NCF Debt Yield | Underwritten NCF divided by Mortgage Loan Cut-off Date Balance ($) less B Note Amount ($) |
| Fully Funded Mortgage Loan Underwritten Stabilized NOI DSCR | Underwritten Stabilized NOI divided by the product of i) Fully Funded Mortgage Loan Rate %, ii) Mortgage Loan Balloon Payment ($) less B Note Amount ($), and iii) Interest Accrual Basis |
| Fully Funded Mortgage Loan Underwritten Stabilized NCF DSCR | Underwritten Stabilized NCF divided by the product of i) Fully Funded Mortgage Loan Rate %, ii) Mortgage Loan Balloon Payment ($) less B Note Amount ($) less Earn-Out Amount ($), and iii) Interest Accrual Basis |
| Fully Funded Mortgage Loan Underwritten Stabilized NOI Debt Yield | Underwritten Stabilized NOI divided by Mortgage Loan Balloon Payment ($) less B Note Amount ($) |
| Fully Funded Mortgage Loan Underwritten Stabilized NCF Debt Yield | Underwritten Stabilized NCF divided by Mortgage Loan Balloon Payment ($) less B Note Amount ($) |

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|:---|:---|
| ![](kpmglogo2.jpg) | **ATTACHMENT B** |

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| | |
|:---|:---|
| **Attribute** | **Calculation Methodology** |
| Fully Funded Mortgage Loan Appraisal Stabilized NOI DSCR | Appraisal Stabilized NOI divided by the product of i) Fully Funded Mortgage Loan Rate %, ii) Mortgage Loan Balloon Payment ($) less B Note Amount ($), and iii) Interest Accrual Basis |
| Fully Funded Mortgage Loan Appraisal Stabilized NCF DSCR | Appraisal Stabilized NCF divided by the product of i) Fully Funded Mortgage Loan Rate %, ii) Mortgage Loan Balloon Payment ($) less B Note Amount ($), and iii) Interest Accrual Basis |
| Fully Funded Mortgage Loan Appraisal Stabilized NOI Debt Yield | Appraisal Stabilized NOI divided by Mortgage Loan Balloon Payment ($) less B Note Amount ($) |
| Fully Funded Mortgage Loan Appraisal Stabilized NCF Debt Yield | Appraisal Stabilized NCF divided by Mortgage Loan Balloon Payment ($) less B Note Amount ($) |
| Cut-off Date Whole Loan Balance | Mortgage Loan Cut-off Date Balance ($) plus Cut-off Date Subordinate Debt/Mezz Loan Bal ($) |
| Cut-off Date Whole Loan As-Is LTV | Cut-off Date Whole Loan Balance divided by As-Is Appraised Value |
| Cut-off Date Whole Loan Ann Debt Service ($) | Cut-off Date Whole Loan Balance multiplied by Fully Funded Mortgage Loan Rate %, multiplied by Interest Accrual Basis |
| Cut-off Date Whole Loan UW NCF DSCR | Underwritten NCF divided by Cut-off Date Whole Loan Ann Debt Service ($) |
| Cut-off Date Whole Loan UW NCF Debt Yield | Underwritten NCF divided by Cut-off Date Whole Loan Balance |

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|:---|:---|
| ![](kpmglogo2.jpg) | **ATTACHMENT C** |

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**INSTRUCTIONS**

&nbsp;&nbsp;&nbsp;&nbsp;1. We were instructed by the Company to follow the instructions listed below pertaining to the applicable Collateral Interest and Compared
Attribute(s) or Recomputed Attribute(s):

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|:---|:---|:---|
| **Property Name(s)** | **Compared Attribute(s) or Recomputed Attribute(s)** | **Company Instruction** |
| Hampton Greens; The Preserve at Pine Valley; Las Lomas; Parkside Sandy Springs; Establishment Apartments | Mortgage Loan Underwritten NOI DSCR; Mortgage Loan Underwritten NCF DSCR; Cut-off Date Total Debt UW NCF DSCR | Show as 1.00x |
| Landis Terrace Apartments; Barclay Apartments; Buckingham Square; Crestview Manor | Commitment Original Balance ($); Initial Funded Amount ($); Mortgage Loan Cut-off Date Balance ($) | Pro rate by As-Is Appraised Value |
| Clemson Ridge; Crescent Pointe; 836 Pennington Street; 117 West Jersey Street; 120 West Jersey Street; 128 West Jersey Street | Mortgage Loan Cut-off Date Balance ($) | Provided by the Company |
| Parkside Sandy Springs | Fully Funded Mortgage Loan Underwritten Stabilized NOI DSCR | Underwritten Stabilized NOI divided by the product of i) Fully Funded Mortgage Loan Rate %, ii) Mortgage Loan Balloon Payment ($) less Earn-Out Amount ($), and iii) Interest Accrual Basis |
| Parkside Sandy Springs | Fully Funded Mortgage Loan Underwritten Stabilized NCF DSCR | Underwritten Stabilized NCF divided by the product of i) Fully Funded Mortgage Loan Rate %, ii) Mortgage Loan Balloon Payment ($) less Earn-Out Amount ($), and iii) Interest Accrual Basis |
| Parkside Sandy Springs | Fully Funded Mortgage Loan Underwritten Stabilized NOI Debt Yield | Underwritten Stabilized NOI divided by Mortgage Loan Balloon Payment ($) less Earn-Out Amount ($) |
| Parkside Sandy Springs | Fully Funded Mortgage Loan Underwritten Stabilized NCF Debt Yield | Underwritten Stabilized NCF divided by Mortgage Loan Balloon Payment ($) less Earn-Out Amount ($) |
| Parkside Sandy Springs | Fully Funded Mortgage Loan Appraisal Stabilized NOI DSCR | Appraisal Stabilized NOI divided by the product of i) Fully Funded Mortgage Loan Rate %, ii) Mortgage Loan Balloon Payment ($) less Earn-Out Amount ($), and iii) Interest Accrual Basis |

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|:---|:---|
| ![](kpmglogo2.jpg) | **ATTACHMENT C** |

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| | | |
|:---|:---|:---|
| **Property Name(s)** | **Compared Attribute(s) or Recomputed Attribute(s)** | **Company Instruction** |
| Parkside Sandy Springs | Fully Funded Mortgage Loan Appraisal Stabilized NCF DSCR | Appraisal Stabilized NCF divided by the product of i) Fully Funded Mortgage Loan Rate %, ii) Mortgage Loan Balloon Payment ($) less Earn-Out Amount ($), and iii) Interest Accrual Basis |
| Parkside Sandy Springs | Fully Funded Mortgage Loan Appraisal Stabilized NOI Debt Yield | Appraisal Stabilized NOI divided by Mortgage Loan Balloon Payment ($) less Earn-Out Amount ($) |
| Parkside Sandy Springs | Fully Funded Mortgage Loan Appraisal Stabilized NCF Debt Yield | Appraisal Stabilized NCF divided by Mortgage Loan Balloon Payment ($) less Earn-Out Amount ($) |
| Parkside Sandy Springs | Fully Funded Senior Loan (Stabilized) LTV Ratio | Commitment Original Balance ($) less Earn-Out Amount ($), divided by Stabilized Appraised Value |
| Parkside Sandy Springs | Maturity Date Stabilized LTV Ratio | Mortgage Loan Balloon Payment ($) less Earn-Out Amount ($), divided by Stabilized Appraised Value |

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