# EDGAR Filing Document

**Accession Number:** 0001013611
**File Stem:** 0001539497-25-001565
**Filing Date:** 2025-6
**Character Count:** 70924
**Document Hash:** e0e3ccde841a84615e4f9e69f9a49929
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001539497-25-001565.hdr.sgml**: 20250602

**ACCESSION NUMBER**: 0001539497-25-001565

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

**PUBLIC DOCUMENT COUNT**: 5

**CONFORMED PERIOD OF REPORT**: 20250602

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

**FILED AS OF DATE**: 20250602

**DATE AS OF CHANGE**: 20250602

**ABS RULE**: RULE-15GA2

**REGISTERED ENTITY**: N

**ABS ASSET CLASS**: Commercial mortgages

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** JP MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP
- **CENTRAL INDEX KEY:** 0001013611
- **STANDARD INDUSTRIAL CLASSIFICATION:** ASSET-BACKED SECURITIES [6189]
- **ORGANIZATION NAME:** Office of Structured Finance
- **EIN:** 133789046
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** ABS-15G/A
- **SEC ACT:** Dodd Frank Act
- **SEC FILE NUMBER:** 025-00709
- **FILM NUMBER:** 251014619

**BUSINESS ADDRESS:**
- **STREET 1:** C/O STATE STREET BANK & TRUST CO
- **STREET 2:** TWO INTERNATIONAL PLACE 5TH FLOOR
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110
- **BUSINESS PHONE:** 2126483063

**MAIL ADDRESS:**
- **STREET 1:** 60 WALL STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10260-0066

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MORGAN J P COMMERCIAL MORTGAGE FINANCE CORP
- **DATE OF NAME CHANGE:** 19960506
**DEPOSITOR**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** JP MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP
- **CENTRAL INDEX KEY:** 0001013611
- **STANDARD INDUSTRIAL CLASSIFICATION:** ASSET-BACKED SECURITIES [6189]
- **ORGANIZATION NAME:** Office of Structured Finance
- **EIN:** 133789046
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

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

**BUSINESS ADDRESS:**
- **STREET 1:** C/O STATE STREET BANK & TRUST CO
- **STREET 2:** TWO INTERNATIONAL PLACE 5TH FLOOR
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110
- **BUSINESS PHONE:** 2126483063

**MAIL ADDRESS:**
- **STREET 1:** 60 WALL STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10260-0066

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MORGAN J P COMMERCIAL MORTGAGE FINANCE CORP
- **DATE OF NAME CHANGE:** 19960506
**SECURITIZER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** JP MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP
- **CENTRAL INDEX KEY:** 0001013611
- **STANDARD INDUSTRIAL CLASSIFICATION:** ASSET-BACKED SECURITIES [6189]
- **ORGANIZATION NAME:** Office of Structured Finance
- **EIN:** 133789046
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** ABS-15G/A
- **SEC ACT:** Dodd Frank Act
- **SEC FILE NUMBER:** 025-00709

**BUSINESS ADDRESS:**
- **STREET 1:** C/O STATE STREET BANK & TRUST CO
- **STREET 2:** TWO INTERNATIONAL PLACE 5TH FLOOR
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110
- **BUSINESS PHONE:** 2126483063

**MAIL ADDRESS:**
- **STREET 1:** 60 WALL STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10260-0066

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MORGAN J P COMMERCIAL MORTGAGE FINANCE CORP
- **DATE OF NAME CHANGE:** 19960506

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

**FORM ABS-15G/A**

**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: **0001013611**

<u>BFLD Trust 2025-EWEST</u><br> (Exact name of issuing entity as specified in its charter)

Central Index Key Number of issuing entity (if applicable): Not applicable

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

<u>Kunal K. Singh, (212) 834-5467</u> <br> Name and telephone number, including area code, of the person to <br> contact in connection with this filing

**EXPLANATORY NOTE**

This Form ABS-15G/A amends the Form ABS-15G (the "<u>Original Form ABS-15G</u>") filed by J.P. Morgan Chase Commercial Mortgage Securities Corp. on May 22, 2025 (SEC Accession No. 0001539497-25-001505). The purpose of this amendment is to replace (i) the agreed-upon procedures report, dated May 22, 2025, and furnished as Exhibit 1 to the Original Form ABS-15G with the agreed-upon procedures report, dated June 2, 2025, and furnished as Exhibit 1 to this Form ABS-15G/A and (ii) the underwriting information comparison agreed-upon procedures report, dated May 22, 2025, and furnished as Exhibit 2 to the Original Form ABS-15G with the underwriting information comparison agreed-upon procedures report, dated June 2, 2025, and furnished as Exhibit 2 to this Form ABS-15G/A. Effective upon the filing of this Form ABS-15G/A, Exhibit 1 and Exhibit 2 to the Original Form ABS-15G are replaced and superseded in their entirety by Exhibit 1 and Exhibit 2, respectively, to this Form 15-G/A.

**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 <u>Exhibit 1</u> hereto is an agreed-upon procedures report, dated June 2, 2025, of PricewaterhouseCoopers LLP, obtained by the depositor, which report sets forth the findings and conclusions, as applicable, of PricewaterhouseCoopers LLP with respect to certain agreed-upon procedures performed by PricewaterhouseCoopers LLP.

Attached as <u>Exhibit 2</u> hereto is an underwriting information comparison agreed-upon procedures report, dated June 2, 2025, of Ernst & Young LLP, obtained by the depositor, which report sets forth the findings and conclusions, as applicable, of Ernst & Young LLP with respect to certain agreed-upon procedures performed by Ernst & Young LLP.

**SIGNATURES**

<br> 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.

---

| | | | |
|:---|:---|:---|:---|
| Date: June 2, 2025 | J.P. MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP. | J.P. MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP. | J.P. MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP. |
|  | By: | /s/ Kunal K. Singh | /s/ Kunal K. Singh |
|  |  | Name: | Kunal K. Singh |
|  |  | Title: | President and Chief Executive Officer |

---

Exhibit 1 Agreed-upon procedures report, dated June 2, 2025, of PricewaterhouseCoopers LLP. <br>Exhibit 2 Underwriting information comparison agreed-upon procedures report, dated June 2, 2025, of Ernst & Young LLP.

## Ex-1

**Exhibit 1** 

**Report of Independent Accountants on Applying** 

**Agreed-Upon Procedures**

JPMorgan Chase Bank, National Association (the "Company")

1111 Polaris Parkway

Columbus, OH 43240

We ("us" or "PwC") have performed the procedures enumerated below, which were agreed to by the Company, J.P. Morgan Securities LLC, J.P. Morgan Chase Commercial Mortgage Securities Corp., Citigroup Global Markets Inc. and Citi Real Estate Funding Inc. who are collectively referred to as the "Specified Parties", solely to assist you in performing certain procedures related to the accuracy of certain attributes and calculations within the Final Data File (defined below). The procedures were performed with respect to the BFLD Trust 2025-EWEST Commercial Mortgage Pass-Through Certificates securitization (the "Transaction"). The Company (the "Responsible Party") is responsible for the accuracy of the information contained in the Final Data File.

In an agreed-upon procedures engagement, we perform specific procedures that the Specified Parties have agreed to and acknowledged to be appropriate for the intended purpose of the engagement and we report on findings based on the procedures performed. The procedures performed may not address all the items of interest to a user of this report and may not meet the needs of all users of this report and, as such, users are responsible for determining whether the procedures performed are appropriate for their purposes. The Specified Parties have agreed to and acknowledged that the procedures performed are appropriate for their purposes. This report may not be suitable for any other purpose.

***Procedures and Findings***

 ****

In connection with the Transaction, the Specified Parties have requested that the procedures be performed on 1 mortgage loan (the "Mortgage Loan Asset") secured by 1 mortgaged property (the "Mortgaged Property") which represents the entire population of Mortgage Loan Asset and Mortgaged Property (collectively the "Collateral") within the Transaction.

This agreed-upon procedures engagement was not conducted for the purpose of satisfying any criteria for due diligence published by a nationally recognized statistical rating organization.

In addition, PwC should not be regarded as having in any way warranted or given any assurance as to the following items:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The completeness, accuracy, appropriateness, quality or
integrity of any of the information provided by the Responsible Party, or any other party for the purpose of PwC performing the procedures
agreed to by the Specified Parties. The procedures performed would not necessarily reveal any material misstatement of the amounts, balances,
ratios, percentages or other relationships of the information included in the data provided to us;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The conformity of the origination of the assets to stated
underwriting or credit extension guidelines, standards, criteria or other requirements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The value of the Mortgaged Properties securing the Mortgage
Loan Asset; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The compliance of the originator of the assets with federal,
state, and local laws and regulations.

*PricewaterhouseCoopers LLP, 300 Madison Avenue, New York, NY 10017* <br> T: (646) 471-3000, F: (813)-286-6000 www.pwc.com 1 <br>

![](pwclogo.jpg)

We have not performed any procedures with respect to the fair value of the securities being offered in the Transaction and PwC expresses no opinion on the fair value of these securities. PwC should not be regarded as having performed any procedures other than those detailed in this report.

With respect to any terms or requirements of the Transaction documents that do not appear in this report, we performed no procedures and, accordingly, the procedures we performed would not ensure that any requirements are satisfied. Further, we have performed only the following agreed-upon procedures and therefore make no representations regarding the adequacy of disclosures or whether any material facts have been omitted from the Transaction documents.

It should be understood that we make no representations as to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The interpretation of Transaction documents included in connection with our procedures;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Your compliance with Rule 15Ga-2 of the Securities Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The reasonableness of any of the assumptions provided by the Company or other Specified
Parties .

These procedures should not be taken to supplant any additional inquiries or procedures that the Specified Parties would undertake in consideration of the Transaction.

For the purpose of this report:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The phrase "Cut-off Date" refers to the date of June 1, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The phrase "Index Assumption" refers to the following interest rate:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o SOFR of 4.35000%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The phrase "Final Data File" refers to the following Microsoft Excel
("Excel") file provided by the Company, which includes certain attributes related to the Collateral. The Final Data File was
provided on June 2, 2025 with certain Collateral attribute calculations adjusted for the Cut-off Date:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o 2025-EWEST Accounting Tape Final.xlsx (provided on June 2, 2025).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The phrase "Specified Attributes" refers to the fields in the Final Data
File.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The phrase "Source Document" refers to the documents (including any applicable
amendments, assumptions or exhibits thereof) provided by the Company, related to the information contained in the Final Data File.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The phrase "Loan File" refers to any Source Document or collection of
Source Documents provided by the Company, and used by us, in performing the procedures enumerated below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The term "compared" refers to the comparison of one or more Specified
Attributes to Source Documents, as indicated within Exhibit A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The term "recalculated" refers to a re-computation of one or more Specified
Attributes using the Company provided methodology, as indicated within Exhibit B.

*PricewaterhouseCoopers LLP, 300 Madison Avenue, New York, NY 10017* <br> T: (646) 471-3000, F: (813)-286-6000 www.pwc.com 2 <br>

![](pwclogo.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The phrase "in agreement" refers to the comparison or recalculation of
one or more Specified Attributes which resulted in a match, or a difference that was within the Company provided tolerance level (if any),
as indicated within Exhibit A.

Source Documents included in the Loan File:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The phrase "Appraisal Report" refers to a draft or signed appraisal document
or exhibit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The phrase "Engineering Report" refers to a draft or final property condition
assessment document or exhibit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The phrase "Environmental Report" refers to a draft or final phase I
and phase II (if applicable) environmental document or exhibit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The phrase "Guaranty Agreement" refers to a signed or draft guaranty
agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The phrase "Loan Agreement" refers to a signed or draft loan agreement
and any amendments or exhibits thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The phrase "Management Agreement" refers to signed or draft management
agreements and any amendments, assignments or assumptions thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The phrase "Mezzanine Loan Agreement" refers to a signed or draft mezzanine
loan agreement and any amendments or exhibits thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The phrase "Title Policy" refers to a signed or proforma title policy
or commitment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The phrase "Underwriting File" refers to the historical and pro-forma
cash flow statements prepared by the Company's underwriting team.

The procedures performed and results thereof are described below. In performing this engagement, we received one or more preliminary data file(s) and performed certain procedures as set forth in Exhibit A and Exhibit B. The procedures identified differences, which were communicated to the Responsible Party. The Responsible Party revised one or more of the preliminary data files based on such communicated differences, where they determined it to be appropriate. We then performed these procedures on the Final Data File, and the results of those procedures are described below.

From May 8, 2025 through June 2, 2025, the Company provided us with the Source Documents related to the Collateral for which we:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Compared certain Specified Attributes to the corresponding
Source Documents as detailed in Exhibit A and found them to be in agreement (the "Compared Attributes");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Recalculated certain Specified Attributes as detailed
in Exhibit B and found them to be in agreement (the "Recalculated Attributes"); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Assumed certain Specified Attributes
were accurate as instructed by the Company, and neither compared nor recalculated the Specified Attributes (the "Company Provided
Attributes").

The recalculation methodology associated with the Recalculated Attributes is listed in Exhibit B. For each procedure where a recalculation was performed, if necessary, we compared the underlying attributes to the corresponding Source Documents and found them to be in agreement. We did not

*PricewaterhouseCoopers LLP, 300 Madison Avenue, New York, NY 10017* <br> T: (646) 471-3000, F: (813)-286-6000 www.pwc.com 3 <br>

![](pwclogo.jpg)

perform any procedures with respect to the Specified Attributes denoted with a Source Document of "None - Company Provided", in Exhibit A.

This agreed-upon procedures engagement was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants. We were not engaged to, and did not conduct an audit or an examination engagement, the objective of which would be the expression of an opinion, or a review engagement, the objective of which would be the expression of a conclusion, on the Final 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 to you.

In performing this engagement, we are required to be independent of the Responsible Party and to meet our ethical responsibilities, in accordance with the relevant ethical requirements related to our agreed-upon procedures engagement.

This report is intended solely for the information and use of the Specified Parties (including for the purpose of substantiating the Specified Parties' "due diligence defense" under the Securities Act of 1933), and is not intended to be and should not be used by anyone other than the Specified Parties.

If a party has obtained, or has access to, this report without having executed an agreement with PwC wherein such party accepts responsibility for the appropriateness of the procedures performed (such party is referred to as a "Non-Specified Party"), that Non-Specified Party cannot:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Rely upon this report, and any use of this report by that Non-Specified Party is
its sole responsibility and at its sole and exclusive risk; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Acquire any rights or claims against PwC, and PwC assumes no duties or obligations
to such Non-Specified Party.

A Non-Specified Party may not disclose or distribute this report or any of the report's contents to any

other party (including but not limited to electronic distribution and/or posting to a website pursuant to Rule 17g-5 of the Securities Exchange Act of 1934).

The procedures enumerated above were performed as of the date of this report, and we disclaim any consideration of any events and circumstances occurring after the date of this report. Further, we have no obligation to update this report because of events occurring, or data or information coming to our attention, subsequent to the date of this report.

/s/ PricewaterhouseCoopers LLP

New York, NY

June 2, 2025

*PricewaterhouseCoopers LLP, 300 Madison Avenue, New York, NY 10017* <br> T: (646) 471-3000, F: (813)-286-6000 www.pwc.com 4 <br>

**Exhibits**

Exhibit A – Loan File Review Procedures

Exhibit B – Recalculation Methodology

*PricewaterhouseCoopers LLP, 300 Madison Avenue, New York, NY 10017* <br> T: (646) 471-3000, F: (813)-286-6000 www.pwc.com 5 <br>

---

| | |
|:---|:---|
| &nbsp;&nbsp;**BFLD Trust 2025-EWEST** | &nbsp;&nbsp;**EXHIBIT A** |
| &nbsp;&nbsp;**Loan File Review Procedures** |  |

---

**Exhibit A - Loan File Review Procedures** 

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**#** | &nbsp;&nbsp;**Specified Attribute** | &nbsp;&nbsp;**Source Document (in order of priority)** | &nbsp;&nbsp;**Tolerance** |
| &nbsp;&nbsp;1 | &nbsp;&nbsp;Loan Number | &nbsp;&nbsp;None - Company Provided |  |
| &nbsp;&nbsp;2 | &nbsp;&nbsp;Loan / Property | &nbsp;&nbsp;None - Company Provided |  |
| &nbsp;&nbsp;3 | &nbsp;&nbsp;Property Name | &nbsp;&nbsp;None - Company Provided |  |
| &nbsp;&nbsp;4 | &nbsp;&nbsp;Building Count | &nbsp;&nbsp;Appraisal Report |  |
| &nbsp;&nbsp;5 | &nbsp;&nbsp;Loan Purpose | &nbsp;&nbsp;None - Company Provided |  |
| &nbsp;&nbsp;6 | &nbsp;&nbsp;Borrower Entity | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;7 | &nbsp;&nbsp;Sponsor | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;8 | &nbsp;&nbsp;Guarantor | &nbsp;&nbsp;Guaranty Agreement |  |
| &nbsp;&nbsp;9 | &nbsp;&nbsp;Property Manager | &nbsp;&nbsp;Management Agreement |  |
| &nbsp;&nbsp;10 | &nbsp;&nbsp;Property Type | &nbsp;&nbsp;Appraisal Report |  |
| &nbsp;&nbsp;11 | &nbsp;&nbsp;Property Subtype | &nbsp;&nbsp;Appraisal Report |  |
| &nbsp;&nbsp;12 | &nbsp;&nbsp;Property Address | &nbsp;&nbsp;Appraisal Report |  |
| &nbsp;&nbsp;13 | &nbsp;&nbsp;Property City | &nbsp;&nbsp;Appraisal Report |  |
| &nbsp;&nbsp;14 | &nbsp;&nbsp;Submarket | &nbsp;&nbsp;Appraisal Report |  |
| &nbsp;&nbsp;15 | &nbsp;&nbsp;County | &nbsp;&nbsp;Appraisal Report |  |
| &nbsp;&nbsp;16 | &nbsp;&nbsp;State | &nbsp;&nbsp;Appraisal Report |  |
| &nbsp;&nbsp;17 | &nbsp;&nbsp;Zip Code | &nbsp;&nbsp;Appraisal Report |  |
| &nbsp;&nbsp;18 | &nbsp;&nbsp;Total Number of Units | &nbsp;&nbsp;Underwriting File |  |
| &nbsp;&nbsp;19 | &nbsp;&nbsp;Market Rate Units | &nbsp;&nbsp;Underwriting File |  |
| &nbsp;&nbsp;20 | &nbsp;&nbsp;Affordable Units | &nbsp;&nbsp;Underwriting File |  |
| &nbsp;&nbsp;21 | &nbsp;&nbsp;Commercial Units | &nbsp;&nbsp;Underwriting File |  |
| &nbsp;&nbsp;22 | &nbsp;&nbsp;Commercial Square Feet | &nbsp;&nbsp;Underwriting File |  |
| &nbsp;&nbsp;23 | &nbsp;&nbsp;Abatement / Exemption Type | &nbsp;&nbsp;Appraisal Report |  |
| &nbsp;&nbsp;24 | &nbsp;&nbsp;Year Built | &nbsp;&nbsp;Appraisal Report |  |
| &nbsp;&nbsp;25 | &nbsp;&nbsp;Year Renovated | &nbsp;&nbsp;Appraisal Report |  |
| &nbsp;&nbsp;26 | &nbsp;&nbsp;Original Mortgage Loan Balance | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;27 | &nbsp;&nbsp;Cut-off Date Mortgage Loan Balance | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;28 | &nbsp;&nbsp;% of Cut-off Date Mortgage Loan Balance | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;29 | &nbsp;&nbsp;Mortgage Loan Balance Per Unit | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;30 | &nbsp;&nbsp;Mortgage Loan Balance at Maturity | &nbsp;&nbsp;Recalculation |  |

---

*PricewaterhouseCoopers LLP, 300 Madison Avenue, New York, NY 10017* <br> T: (646) 471-3000, F: (813)-286-6000 www.pwc.com 6 <br>

---

| | |
|:---|:---|
| &nbsp;&nbsp;**BFLD Trust 2025-EWEST** | &nbsp;&nbsp;**EXHIBIT A** |
| &nbsp;&nbsp;**Loan File Review Procedures** |  |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**#** | &nbsp;&nbsp;**Specified Attribute** | &nbsp;&nbsp;**Source Document (in order of priority)** | &nbsp;&nbsp;**Tolerance** |
| &nbsp;&nbsp;31 | &nbsp;&nbsp;Amortization Type | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;32 | &nbsp;&nbsp;Origination Date | &nbsp;&nbsp;None - Company Provided |  |
| &nbsp;&nbsp;33 | &nbsp;&nbsp;Payment Date | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;34 | &nbsp;&nbsp;First Payment Date | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;35 | &nbsp;&nbsp;Initial Maturity Date | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;36 | &nbsp;&nbsp;Extension Options (Yes/No) | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;37 | &nbsp;&nbsp;Extension Options Description | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;38 | &nbsp;&nbsp;Fully Extended Maturity Date | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;39 | &nbsp;&nbsp;First Extension Fee | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;40 | &nbsp;&nbsp;Second Extension Fee | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;41 | &nbsp;&nbsp;Third Extension Fee | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;42 | &nbsp;&nbsp;Exit Fee | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;43 | &nbsp;&nbsp;Assumption Fee | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;44 | &nbsp;&nbsp;Substitution Allowed | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;45 | &nbsp;&nbsp;Grace Period- Default | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;46 | &nbsp;&nbsp;Grace Period- Late Fee | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;47 | &nbsp;&nbsp;Original Loan Term | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;48 | &nbsp;&nbsp;Original Loan Term (Including Extension Options) | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;49 | &nbsp;&nbsp;Amortization Term | &nbsp;&nbsp;Not Applicable\* |  |
| &nbsp;&nbsp;50 | &nbsp;&nbsp;Amortization Term (Including Extension Options) | &nbsp;&nbsp;Not Applicable\* |  |
| &nbsp;&nbsp;51 | &nbsp;&nbsp;IO Period | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;52 | &nbsp;&nbsp;Seasoning | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;53 | &nbsp;&nbsp;Remaining Term to Original Maturity | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;54 | &nbsp;&nbsp;Remaining Term to Original Maturity (Including Extension Options) | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;55 | &nbsp;&nbsp;Accrual Basis | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;56 | &nbsp;&nbsp;Interest accrual period start | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;57 | &nbsp;&nbsp;Interest accrual period end | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;58 | &nbsp;&nbsp;Interest Rate Adjustment Frequency | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;59 | &nbsp;&nbsp;SOFR Rounding Methodology | &nbsp;&nbsp;None - Company Provided |  |

---

*PricewaterhouseCoopers LLP, 300 Madison Avenue, New York, NY 10017* <br> T: (646) 471-3000, F: (813)-286-6000 www.pwc.com 7 <br>

---

| | |
|:---|:---|
| &nbsp;&nbsp;**BFLD Trust 2025-EWEST** | &nbsp;&nbsp;**EXHIBIT A** |
| &nbsp;&nbsp;**Loan File Review Procedures** |  |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**#** | &nbsp;&nbsp;**Specified Attribute** | &nbsp;&nbsp;**Source Document (in order of priority)** | &nbsp;&nbsp;**Tolerance** |
| &nbsp;&nbsp;60 | &nbsp;&nbsp;SOFR Lookback Days | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;61 | &nbsp;&nbsp;SOFR Floor | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;62 | &nbsp;&nbsp;SOFR Cap Strike Price | &nbsp;&nbsp;None - Company Provided |  |
| &nbsp;&nbsp;63 | &nbsp;&nbsp;SOFR Cap after Extension | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;64 | &nbsp;&nbsp;SOFR Cap Expiration Date | &nbsp;&nbsp;None - Company Provided |  |
| &nbsp;&nbsp;65 | &nbsp;&nbsp;SOFR Cap Provider | &nbsp;&nbsp;None - Company Provided |  |
| &nbsp;&nbsp;66 | &nbsp;&nbsp;SOFR Cap Provider Rating (M/S&P/F) | &nbsp;&nbsp;None - Company Provided |  |
| &nbsp;&nbsp;67 | &nbsp;&nbsp;Rate Type | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;68 | &nbsp;&nbsp;Mortgage Loan Spread | &nbsp;&nbsp;None - Company Provided |  |
| &nbsp;&nbsp;69 | &nbsp;&nbsp;Mortgage Loan Interest Rate (At Assumed SOFR) | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;70 | &nbsp;&nbsp;Assumed Mortgage Loan Interest Rate @ SOFR Cap | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;71 | &nbsp;&nbsp;Mortgage Loan Annual Debt Service @ SOFR Cap | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;72 | &nbsp;&nbsp;Mortgage Loan Monthly Debt Service @ SOFR Cap | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;73 | &nbsp;&nbsp;Mortgage Loan Annual Debt Service | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;74 | &nbsp;&nbsp;Mortgage Loan Monthly Debt Service | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;75 | &nbsp;&nbsp;Prepayment String | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;76 | &nbsp;&nbsp;Partial Prepayments Allowed | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;77 | &nbsp;&nbsp;Partial Release Permitted | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;78 | &nbsp;&nbsp;Partial Release Description | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;79 | &nbsp;&nbsp;Lockbox (Y/N) | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;80 | &nbsp;&nbsp;Lockbox Type | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;81 | &nbsp;&nbsp;Cash Management | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;82 | &nbsp;&nbsp;Terms/Description of Springing Cash Management (If applicable) | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;83 | &nbsp;&nbsp;Single Asset Entity | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;84 | &nbsp;&nbsp;Single Purpose Entity | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;85 | &nbsp;&nbsp;Non-Consolidation Letter | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;86 | &nbsp;&nbsp;TIC Structure | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;87 | &nbsp;&nbsp;Condo Structure | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;88 | &nbsp;&nbsp;DST | &nbsp;&nbsp;Loan Agreement |  |

---

*PricewaterhouseCoopers LLP, 300 Madison Avenue, New York, NY 10017* <br> T: (646) 471-3000, F: (813)-286-6000 www.pwc.com 8 <br>

---

| | |
|:---|:---|
| &nbsp;&nbsp;**BFLD Trust 2025-EWEST** | &nbsp;&nbsp;**EXHIBIT A** |
| &nbsp;&nbsp;**Loan File Review Procedures** |  |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**#** | &nbsp;&nbsp;**Specified Attribute** | &nbsp;&nbsp;**Source Document (in order of priority)** | &nbsp;&nbsp;**Tolerance** |
| &nbsp;&nbsp;89 | &nbsp;&nbsp;Replacement Reserve Initial Deposit Amount | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;90 | &nbsp;&nbsp;Replacement Reserve Monthly Deposit Amount | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;91 | &nbsp;&nbsp;Replacement Reserve Cap | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;92 | &nbsp;&nbsp;TILC Reserve Initial Deposit Amount | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;93 | &nbsp;&nbsp;TILC Reserve Monthly Deposit Amount | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;94 | &nbsp;&nbsp;TILC Reserve Cap | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;95 | &nbsp;&nbsp;Free Rent Reserve Initial Deposit Amount | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;96 | &nbsp;&nbsp;Free Rent Reserve Monthly Deposit Amount | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;97 | &nbsp;&nbsp;Free Rent Reserve Cap | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;98 | &nbsp;&nbsp;Deferred Maintenance Reserve Deposit Amount | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;99 | &nbsp;&nbsp;Initial Tax Escrow | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;100 | &nbsp;&nbsp;Monthly Tax Escrow | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;101 | &nbsp;&nbsp;Initial Insurance Escrow | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;102 | &nbsp;&nbsp;Monthly Insurance Escrow | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;103 | &nbsp;&nbsp;Initial Other Escrow | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;104 | &nbsp;&nbsp;Monthly Other Escrow | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;105 | &nbsp;&nbsp;Description of Other Escrow | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;106 | &nbsp;&nbsp;Letter of Credit | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;107 | &nbsp;&nbsp;Earnout / Holdback | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;108 | &nbsp;&nbsp;Most Recent Residential Occupancy (Units) % | &nbsp;&nbsp;Underwriting File |  |
| &nbsp;&nbsp;109 | &nbsp;&nbsp;Most Recent Commercial Occupancy (Square Feet) % | &nbsp;&nbsp;Underwriting File |  |
| &nbsp;&nbsp;110 | &nbsp;&nbsp;Occupancy Date Most Recent | &nbsp;&nbsp;Underwriting File |  |
| &nbsp;&nbsp;111 | &nbsp;&nbsp;As-is Appraisal Value | &nbsp;&nbsp;Appraisal Report |  |
| &nbsp;&nbsp;112 | &nbsp;&nbsp;Appraisal Type | &nbsp;&nbsp;Appraisal Report |  |
| &nbsp;&nbsp;113 | &nbsp;&nbsp;Appraised Cap Rate | &nbsp;&nbsp;Appraisal Report |  |
| &nbsp;&nbsp;114 | &nbsp;&nbsp;As-Is Date of Value | &nbsp;&nbsp;Appraisal Report |  |
| &nbsp;&nbsp;115 | &nbsp;&nbsp;Appraisal Firm | &nbsp;&nbsp;Appraisal Report |  |
| &nbsp;&nbsp;116 | &nbsp;&nbsp;Environmental Firm | &nbsp;&nbsp;Environmental Report |  |

---

*PricewaterhouseCoopers LLP, 300 Madison Avenue, New York, NY 10017* <br> T: (646) 471-3000, F: (813)-286-6000 www.pwc.com 9 <br>

---

| | |
|:---|:---|
| &nbsp;&nbsp;**BFLD Trust 2025-EWEST** | &nbsp;&nbsp;**EXHIBIT A** |
| &nbsp;&nbsp;**Loan File Review Procedures** |  |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**#** | &nbsp;&nbsp;**Specified Attribute** | &nbsp;&nbsp;**Source Document (in order of priority)** | &nbsp;&nbsp;**Tolerance** |
| &nbsp;&nbsp;117 | &nbsp;&nbsp;Phase I Date | &nbsp;&nbsp;Environmental Report |  |
| &nbsp;&nbsp;118 | &nbsp;&nbsp;Phase II Recommended | &nbsp;&nbsp;Environmental Report |  |
| &nbsp;&nbsp;119 | &nbsp;&nbsp;Phase II Date | &nbsp;&nbsp;Not Applicable\* |  |
| &nbsp;&nbsp;120 | &nbsp;&nbsp;Environmental Insurance | &nbsp;&nbsp;None - Company Provided |  |
| &nbsp;&nbsp;121 | &nbsp;&nbsp;Engineering Firm | &nbsp;&nbsp;Engineering Report |  |
| &nbsp;&nbsp;122 | &nbsp;&nbsp;Engineering Report Date | &nbsp;&nbsp;Engineering Report |  |
| &nbsp;&nbsp;123 | &nbsp;&nbsp;Seismic Insurance | &nbsp;&nbsp;Loan Agreement; Engineering Report |  |
| &nbsp;&nbsp;124 | &nbsp;&nbsp;Seismic PML % | &nbsp;&nbsp;Not Applicable\* |  |
| &nbsp;&nbsp;125 | &nbsp;&nbsp;Title Type | &nbsp;&nbsp;Title Policy |  |
| &nbsp;&nbsp;126 | &nbsp;&nbsp;Master Lease Agreement (Y/N) | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;127 | &nbsp;&nbsp;Master Lease Details | &nbsp;&nbsp;Not Applicable\* |  |
| &nbsp;&nbsp;128 | &nbsp;&nbsp;Most Recent As of Date | &nbsp;&nbsp;Underwriting File |  |
| &nbsp;&nbsp;129 | &nbsp;&nbsp;Most Recent Effective Gross Income | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;130 | &nbsp;&nbsp; Most Recent Expenses | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;131 | &nbsp;&nbsp;Most Recent NOI | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;132 | &nbsp;&nbsp; UW <br> Occupancy | &nbsp;&nbsp;Underwriting File |  |
| &nbsp;&nbsp;133 | &nbsp;&nbsp;UW Effective Gross Income | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;134 | &nbsp;&nbsp;UW Expenses | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;135 | &nbsp;&nbsp;UW NOI | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;136 | &nbsp;&nbsp;UW TI/LC | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;137 | &nbsp;&nbsp;UW Replacements | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;138 | &nbsp;&nbsp;UW NCF | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;139 | &nbsp;&nbsp;Mortgage Loan UW NOI DY | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;140 | &nbsp;&nbsp;Mortgage Loan UW NCF DY | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;141 | &nbsp;&nbsp;Mortgage Loan UW NOI DSCR | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;142 | &nbsp;&nbsp;Mortgage Loan UW NCF DSCR | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;143 | &nbsp;&nbsp;Mortgage Loan UW NOI DSCR @ SOFR Cap | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;144 | &nbsp;&nbsp;Mortgage Loan UW NCF DSCR @ SOFR Cap | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;145 | &nbsp;&nbsp;Mortgage Loan Cut-off Date As-Is LTV | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;146 | &nbsp;&nbsp;Mortgage Loan Maturity Date As-Is LTV | &nbsp;&nbsp;Recalculation |  |

---

*PricewaterhouseCoopers LLP, 300 Madison Avenue, New York, NY 10017* <br> T: (646) 471-3000, F: (813)-286-6000 www.pwc.com 10 <br>

---

| | |
|:---|:---|
| &nbsp;&nbsp;**BFLD Trust 2025-EWEST** | &nbsp;&nbsp;**EXHIBIT A** |
| &nbsp;&nbsp;**Loan File Review Procedures** |  |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**#** | &nbsp;&nbsp;**Specified Attribute** | &nbsp;&nbsp;**Source Document (in order of priority)** | &nbsp;&nbsp;**Tolerance** |
| &nbsp;&nbsp;147 | &nbsp;&nbsp;Original Mezzanine Loan Balance | &nbsp;&nbsp;Mezzanine Loan Agreement |  |
| &nbsp;&nbsp;148 | &nbsp;&nbsp;Cut-Off Date Mezzanine Loan Balance | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;149 | &nbsp;&nbsp;Mezzanine Loan Maturity Balance | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;150 | &nbsp;&nbsp;Mezzanine Loan Margin | &nbsp;&nbsp;None - Company Provided |  |
| &nbsp;&nbsp;151 | &nbsp;&nbsp;Mezzanine Loan Interest Rate | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;152 | &nbsp;&nbsp;Mezzanine Loan Interest Rate @ SOFR Cap | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;153 | &nbsp;&nbsp;Mezzanine Loan Annual Debt Service | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;154 | &nbsp;&nbsp;Mezzanine Loan Monthly Debt Service | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;155 | &nbsp;&nbsp;Mezzanine Loan Annual Debt Service @ SOFR Cap | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;156 | &nbsp;&nbsp;Mezzanine Loan Monthly Debt Service @ SOFR Cap | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;157 | &nbsp;&nbsp;Original Total Debt Balance | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;158 | &nbsp;&nbsp;Cut-off Date Total Debt Balance | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;159 | &nbsp;&nbsp;Maturity Date Total Debt Balance | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;160 | &nbsp;&nbsp;Total Debt Interest Rate | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;161 | &nbsp;&nbsp;Total Debt Interest Rate @ SOFR Cap | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;162 | &nbsp;&nbsp;Total Debt Annual Debt Service | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;163 | &nbsp;&nbsp;Total Debt Monthly Debt Service | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;164 | &nbsp;&nbsp;Total Debt Annual Debt Service @ SOFR Cap | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;165 | &nbsp;&nbsp;Total Debt Monthly Debt Service @ SOFR Cap | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;166 | &nbsp;&nbsp;Total Debt UW NOI DY | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;167 | &nbsp;&nbsp;Total Debt UW NCF DSCR | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;168 | &nbsp;&nbsp;Total Debt UW NCF DSCR @ SOFR Cap | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;169 | &nbsp;&nbsp;Total Debt Cut-off Date LTV | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;170 | &nbsp;&nbsp;Total Debt Maturity Date LTV | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;171 | &nbsp;&nbsp;Future Debt Permitted? | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;172 | &nbsp;&nbsp;Future Debt Description | &nbsp;&nbsp;Not Applicable\* |  |
| &nbsp;&nbsp;173 | &nbsp;&nbsp;Mortgage Primary Servicer | &nbsp;&nbsp;None - Company Provided |  |
| &nbsp;&nbsp;174 | &nbsp;&nbsp;Mortgage Master Servicer | &nbsp;&nbsp;None - Company Provided |  |
| &nbsp;&nbsp;175 | &nbsp;&nbsp;Mortgage Servicing Fee | &nbsp;&nbsp;None - Company Provided |  |
| &nbsp;&nbsp;176 | &nbsp;&nbsp;Mortgage Trustee/Cert Admin | &nbsp;&nbsp;None - Company Provided |  |

---

*PricewaterhouseCoopers LLP, 300 Madison Avenue, New York, NY 10017* <br> T: (646) 471-3000, F: (813)-286-6000 www.pwc.com 11 <br>

---

| | |
|:---|:---|
| &nbsp;&nbsp;**BFLD Trust 2025-EWEST** | &nbsp;&nbsp;**EXHIBIT A** |
| &nbsp;&nbsp;**Loan File Review Procedures** |  |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**#** | &nbsp;&nbsp;**Specified Attribute** | &nbsp;&nbsp;**Source Document (in order of priority)** | &nbsp;&nbsp;**Tolerance** |
| &nbsp;&nbsp;177 | &nbsp;&nbsp;Mortgage Operating Advisor Fee | &nbsp;&nbsp;None - Company Provided |  |
| &nbsp;&nbsp;178 | &nbsp;&nbsp;Mortgage CREFC FEE | &nbsp;&nbsp;None - Company Provided |  |
| &nbsp;&nbsp;179 | &nbsp;&nbsp;Total Mortgage Admin Fee | &nbsp;&nbsp;None - Company Provided |  |
| &nbsp;&nbsp;180 | &nbsp;&nbsp;Net Mortgage Margin | &nbsp;&nbsp;None - Company Provided |  |

---

\* The fields for the noted Specified Attributes were either not populated in the Final Data File or populated with the term "NAP". As such, we were instructed by the Company to not perform any procedures on these Specified Attributes

*PricewaterhouseCoopers LLP, 300 Madison Avenue, New York, NY 10017* <br> T: (646) 471-3000, F: (813)-286-6000 www.pwc.com 12 <br>

---

| | |
|:---|:---|
| &nbsp;&nbsp;**BFLD Trust 2025-EWEST** | &nbsp;&nbsp;**EXHIBIT B** |
| &nbsp;&nbsp;**Recalculation Methodology** |  |

---

**Exhibit B - Recalculation Methodology**

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**#** | &nbsp;&nbsp;**Specified Attribute** | &nbsp;&nbsp;**Recalculation Methodology** |
| &nbsp;&nbsp;27 | &nbsp;&nbsp;Cut-off Date Mortgage Loan Balance | &nbsp;&nbsp;Set equal to Original Mortgage Loan Balance. |
| &nbsp;&nbsp;28 | &nbsp;&nbsp;% of Cut-off Date Mortgage Loan Balance | &nbsp;&nbsp;Quotient of (i) Cut-off Date Mortgage Loan Balance and (ii) Original Mortgage Loan Balance. |
| &nbsp;&nbsp;29 | &nbsp;&nbsp;Mortgage Loan Balance Per Unit | &nbsp;&nbsp;Quotient of (i) Cut-off Date Mortgage Loan Balance and (ii) Total Number of Units. |
| &nbsp;&nbsp;30 | &nbsp;&nbsp;Mortgage Loan Balance at Maturity | &nbsp;&nbsp;Set equal to Original Mortgage Loan Balance. |
| &nbsp;&nbsp;47 | &nbsp;&nbsp;Original Loan Term | &nbsp;&nbsp;Count of the number of monthly payment dates, from and inclusive of (i) First Payment Date, to and including (ii) Initial Maturity Date. |
| &nbsp;&nbsp;48 | &nbsp;&nbsp;Original Loan Term (Including Extension Options) | &nbsp;&nbsp;Count of the number of monthly payment dates, from and inclusive of (i) First Payment Date, to and including (ii) Fully Extended Maturity Date. |
| &nbsp;&nbsp;51 | &nbsp;&nbsp;IO Period | &nbsp;&nbsp;Count of the number of monthly payment dates, from and inclusive of (i) First Payment Date, to and including (ii) Initial Maturity Date. |
| &nbsp;&nbsp;52 | &nbsp;&nbsp;Seasoning | &nbsp;&nbsp;Count of the number of monthly payment dates, from and inclusive of (i) First Payment Date, to and including (ii) Cut-off Date. |
| &nbsp;&nbsp;53 | &nbsp;&nbsp;Remaining Term to Original Maturity | &nbsp;&nbsp;Difference between (i) Original Loan Term and (ii) Seasoning. |
| &nbsp;&nbsp;54 | &nbsp;&nbsp;Remaining Term to Original Maturity (Including Extension Options) | &nbsp;&nbsp;Difference between (i) Original Loan Term (Including Extension Options) and (ii) Seasoning. |
| &nbsp;&nbsp;69 | &nbsp;&nbsp;Mortgage Loan Interest Rate (At Assumed SOFR) | &nbsp;&nbsp;Sum of (i) SOFR Cap Strike Price and (ii) Mortgage Loan Spread. |
| &nbsp;&nbsp;70 | &nbsp;&nbsp;Assumed Mortgage Loan Interest Rate @ SOFR Cap | &nbsp;&nbsp;Sum of (i) SOFR Cap Strike Price and (ii) Mortgage Loan Spread. |
| &nbsp;&nbsp;71 | &nbsp;&nbsp;Mortgage Loan Annual Debt Service @ SOFR Cap | &nbsp;&nbsp;Product of (i) Mortgage Loan Monthly Debt Service @ SOFR Cap and (ii) 12. |
| &nbsp;&nbsp;72 | &nbsp;&nbsp;Mortgage Loan Monthly Debt Service @ SOFR Cap | &nbsp;&nbsp;Quotient of (i) product of (a) Cut-off Date Mortgage Loan Balance ($), (b) Assumed Mortgage Loan Interest Rate @ SOFR Cap and (c) the Accrual Basis (365/360) and (ii) 12. |
| &nbsp;&nbsp;73 | &nbsp;&nbsp;Mortgage Loan Annual Debt Service | &nbsp;&nbsp;Product of (i) Mortgage Loan Monthly Debt Service and (ii) 12. |
| &nbsp;&nbsp;74 | &nbsp;&nbsp;Mortgage Loan Monthly Debt Service | &nbsp;&nbsp;Quotient of (i) product of (a) Cut-off Date Mortgage Loan Balance ($), (b) Mortgage Loan Interest Rate (At Assumed SOFR) and (c) the Accrual Basis (365/360) and (ii) 12. |

---

*PricewaterhouseCoopers LLP, 300 Madison Avenue, New York, NY 10017* <br> T: (646) 471-3000, F: (813)-286-6000 www.pwc.com 13 <br>

---

| | |
|:---|:---|
| &nbsp;&nbsp;**BFLD Trust 2025-EWEST** | &nbsp;&nbsp;**EXHIBIT B** |
| &nbsp;&nbsp;**Recalculation Methodology** |  |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**#** | &nbsp;&nbsp;**Specified Attribute** | &nbsp;&nbsp;**Recalculation Methodology** |
| &nbsp;&nbsp;139 | &nbsp;&nbsp;Mortgage Loan UW NOI DY | &nbsp;&nbsp;Quotient of (i) UW NOI and (ii) Cut-off Date Mortgage Loan Balance. |
| &nbsp;&nbsp;140 | &nbsp;&nbsp;Mortgage Loan UW NCF DY | &nbsp;&nbsp;Quotient of (i) UW NCF and (ii) Cut-off Mortgage Loan Balance. |
| &nbsp;&nbsp;141 | &nbsp;&nbsp;Mortgage Loan UW NOI DSCR | &nbsp;&nbsp;Quotient of (i) UW NOI and (ii) Mortgage Loan Annual Debt Service. |
| &nbsp;&nbsp;142 | &nbsp;&nbsp;Mortgage Loan UW NCF DSCR | &nbsp;&nbsp;Quotient of (i) UW NCF and (ii) Mortgage Loan Annual Debt Service. |
| &nbsp;&nbsp;143 | &nbsp;&nbsp;Mortgage Loan UW NOI DSCR @ SOFR Cap | &nbsp;&nbsp;Quotient of (i) UW NOI and (ii) Mortgage Loan Annual Debt Service @ SOFR Cap. |
| &nbsp;&nbsp;144 | &nbsp;&nbsp;Mortgage Loan UW NCF DSCR @ SOFR Cap | &nbsp;&nbsp;Quotient of (i) UW NCF and (ii) Mortgage Loan Annual Debt Service @ SOFR Cap. |
| &nbsp;&nbsp;145 | &nbsp;&nbsp;Mortgage Loan Cut-off Date As-Is LTV | &nbsp;&nbsp;Quotient of (i) Cut-off Mortgage Loan Balance and (ii) As-is Appraisal Value. |
| &nbsp;&nbsp;146 | &nbsp;&nbsp;Mortgage Loan Maturity Date As-Is LTV | &nbsp;&nbsp;Quotient of (i) Mortgage Loan Balance at Maturity and (ii) As-is Appraisal Value. |
| &nbsp;&nbsp;148 | &nbsp;&nbsp;Cut-Off Date Mezzanine Loan Balance | &nbsp;&nbsp;Set equal to Original Mezzanine Loan Balance. |
| &nbsp;&nbsp;149 | &nbsp;&nbsp;Mezzanine Loan Maturity Balance | &nbsp;&nbsp;Set equal to Cut-Off Date Mezzanine Loan Balance. |
| &nbsp;&nbsp;151 | &nbsp;&nbsp;Mezzanine Loan Interest Rate | &nbsp;&nbsp;Sum of (i) Mezzanine Loan Margin and (ii) SOFR Cap Strike Price. |
| &nbsp;&nbsp;152 | &nbsp;&nbsp;Mezzanine Loan Interest Rate @ SOFR Cap | &nbsp;&nbsp;Sum of (i) Mezzanine Loan Margin and (ii) SOFR Cap Strike Price. |
| &nbsp;&nbsp;153 | &nbsp;&nbsp;Mezzanine Loan Annual Debt Service | &nbsp;&nbsp;Product of (i) Mezzanine Loan Monthly Debt Service and (ii) 12. |
| &nbsp;&nbsp;154 | &nbsp;&nbsp;Mezzanine Loan Monthly Debt Service | &nbsp;&nbsp;Quotient of (i) product of (a) Cut-Off Date Mezzanine Loan Balance ($), (b) Mezzanine Loan Interest Rate and (c) the Accrual Basis (365/360) and (ii) 12. |
| &nbsp;&nbsp;155 | &nbsp;&nbsp;Mezzanine Loan Annual Debt Service @ SOFR Cap | &nbsp;&nbsp;Product of (i) Mezzanine Loan Monthly Debt Service @ SOFR Cap and (ii) 12. |

---

*PricewaterhouseCoopers LLP, 300 Madison Avenue, New York, NY 10017* <br> T: (646) 471-3000, F: (813)-286-6000 www.pwc.com 14 <br>

---

| | |
|:---|:---|
| &nbsp;&nbsp;**BFLD Trust 2025-EWEST** | &nbsp;&nbsp;**EXHIBIT B** |
| &nbsp;&nbsp;**Recalculation Methodology** |  |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**#** | &nbsp;&nbsp;**Specified Attribute** | &nbsp;&nbsp;**Recalculation Methodology** |
| &nbsp;&nbsp;156 | &nbsp;&nbsp;Mezzanine Loan Monthly Debt Service @ SOFR Cap | &nbsp;&nbsp;Quotient of (i) product of (a) Cut-Off Date Mezzanine Loan Balance ($), (b) Mezzanine Loan Interest Rate @ SOFR Cap and (c) the Accrual Basis (365/360) and (ii) 12. |
| &nbsp;&nbsp;157 | &nbsp;&nbsp;Original Total Debt Balance | &nbsp;&nbsp;Sum of (i) Original Mortgage Loan Balance and (ii) Original Mezzanine Loan Balance. |
| &nbsp;&nbsp;158 | &nbsp;&nbsp;Cut-off Date Total Debt Balance | &nbsp;&nbsp;Sum of (i) Cut-off Date Mortgage Loan Balance and (ii) Cut-Off Date Mezzanine Loan Balance. |
| &nbsp;&nbsp;159 | &nbsp;&nbsp;Maturity Date Total Debt Balance | &nbsp;&nbsp;Sum of (i) Mortgage Loan Balance at Maturity and (ii) Mezzanine Loan Maturity Balance. |
| &nbsp;&nbsp;160 | &nbsp;&nbsp;Total Debt Interest Rate | &nbsp;&nbsp;Sum of (i) Quotient of (a) Sum of (aa) product of (w) Cut-off Date Mortgage Loan Balance and (x) Mortgage Loan Spread, and (bb) product of (y) Cut-off Date Mezzanine Loan Balance and (z) Mezzanine Loan Margin, and (b) Original Total Debt Balance, and (ii) SOFR Cap Strike Price. |
| &nbsp;&nbsp;161 | &nbsp;&nbsp;Total Debt Interest Rate @ SOFR Cap | &nbsp;&nbsp;Sum of (i) Quotient of (a) Sum of (aa) product of (w) Cut-off Date Mortgage Loan Balance and (x) Mortgage Loan Spread, and (bb) product of (y) Cut-off Date Mezzanine Loan Balance and (z) Mezzanine Loan Margin, and (b) Original Total Debt Balance, and (ii) SOFR Cap Strike Price. |
| &nbsp;&nbsp;162 | &nbsp;&nbsp;Total Debt Annual Debt Service | &nbsp;&nbsp;Product of (i) Total Debt Monthly Debt Service and (ii) 12. |
| &nbsp;&nbsp;163 | &nbsp;&nbsp;Total Debt Monthly Debt Service | &nbsp;&nbsp;Product of (i) Cut-off Date total Debt Balance (ii) quotient of (a) Total Debt Interest Rate and (b) 12, and (iii) quotient of (x) 365 and (y) 360. |
| &nbsp;&nbsp;164 | &nbsp;&nbsp;Total Debt Annual Debt Service @ SOFR Cap | &nbsp;&nbsp;Product of (i) Total Debt Monthly Debt Service @ SOFR Cap and (ii) 12. |
| &nbsp;&nbsp;165 | &nbsp;&nbsp;Total Debt Monthly Debt Service @ SOFR Cap | &nbsp;&nbsp;Product of (i) Cut-off Date total Debt Balance (ii) quotient of (a) Total Debt Interest Rate @ SOFR Cap and (b) 12, and (iii) quotient of (x) 365 and (y) 360. |
| &nbsp;&nbsp;166 | &nbsp;&nbsp;Total Debt UW NOI DY | &nbsp;&nbsp;Quotient of (i) UW NOI and (ii) Cut-off Date Total Debt Balance. |
| &nbsp;&nbsp;167 | &nbsp;&nbsp;Total Debt UW NCF DSCR | &nbsp;&nbsp;Quotient of (i) UW NCF and (ii) Total Debt Annual Debt Service. |
| &nbsp;&nbsp;168 | &nbsp;&nbsp;Total Debt UW NCF DSCR @ SOFR Cap | &nbsp;&nbsp;Quotient of (i) UW NCF and (ii) Total Debt Annual Debt Service @ SOFR Cap. |
| &nbsp;&nbsp;169 | &nbsp;&nbsp;Total Debt Cut-off Date LTV | &nbsp;&nbsp;Quotient of (i) Cut-off Date Total Debt Balance and (ii) As-is Appraisal Value. |

---

*PricewaterhouseCoopers LLP, 300 Madison Avenue, New York, NY 10017* <br> T: (646) 471-3000, F: (813)-286-6000 www.pwc.com 15 <br>

---

| | |
|:---|:---|
| &nbsp;&nbsp;**BFLD Trust 2025-EWEST** | &nbsp;&nbsp;**EXHIBIT B** |
| &nbsp;&nbsp;**Recalculation Methodology** |  |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**#** | &nbsp;&nbsp;**Specified Attribute** | &nbsp;&nbsp;**Recalculation Methodology** |
| &nbsp;&nbsp;170 | &nbsp;&nbsp;Total Debt Maturity Date LTV | &nbsp;&nbsp;Quotient of (i) Maturity Date Total Debt Balance and (ii) As-is Appraisal Value. |

---

*PricewaterhouseCoopers LLP, 300 Madison Avenue, New York, NY 10017* <br> T: (646) 471-3000, F: (813)-286-6000 www.pwc.com 16 <br>

## Ex-2

**Exhibit 2**

---

| | | |
|:---|:---|:---|
| ![](eylogo2.jpg) | **Ernst & Young LLP**<br> One Manhattan West<br> New York, NY 10001 | Tel: +1 212 773 3000<br> ey.com |

---

**Report of Independent Accountants on Applying Agreed-Upon Procedures**

J.P. Morgan Chase Commercial Mortgage Securities Corp. (the "Depositor")

JPMorgan Chase Bank, National Association ("JPMCB")

Citi Real Estate Funding Inc.

Citigroup Global Markets Inc.

(collectively, the "Specified Parties")

---

| | |
|:---|:---|
| **Re:** | **BFLD Trust 2025-EWEST (the "Issuing Entity")** |
|  | **Commercial Mortgage Pass-Through Certificates, Series 2025-EWEST (the "Certificates")** |

---

We have performed the procedures enumerated in Attachment A, which were agreed to and acknowledged as appropriate by the Specified Parties, for the intended purpose of assisting the Specified Parties in evaluating the accuracy of certain information with respect to the Mortgage Loan (as defined herein) contained on the Underwriting File, Underwritten Rent Roll and ASR (all as defined herein) (collectively, the "Subject Matter") relating to the Issuing Entity's securitization transaction as of 2 June 2025. This report may not be suitable for any other purpose. The procedures performed may not address all of the items of interest to a user of the report and may not meet the needs of all users of the report and, as such, users are responsible for determining whether the procedures performed are appropriate for their purposes. The appropriateness of these procedures is solely the responsibility of the Specified Parties identified in this report. No other party acknowledged the appropriateness of the procedures. Consequently, we make no representation regarding the appropriateness of the procedures described in Attachment A, either for the purpose for which this report has been requested or for any other purpose.

The procedures performed and our associated findings are included in Attachment A.

For the purpose of the procedures described in this report, JPMCB, on behalf of the Depositor, provided us with:

a. Electronic data files (the "Borrower Operating Statement Data Files") prepared by the Mortgage Loan borrower(s) containing revenue and expense information relating to the historical one year period (the "Historical 1 Year Period") and April 2025 trailing twelve month period (the "TTM Period," together with the Historical 1 Year Period, the "Historical Periods") for the Collateral Property (as defined herein) that secures the Mortgage Loan,

b. The most recent appraisal report (the "Appraisal") prepared for JPMCB, which contains the appraiser's estimated year one (the "Year One Period," together with the Historical Periods, the "Specified Periods") revenue and expense information for the Collateral Property that secures the Mortgage Loan,

c. The borrower budget (the "Borrower Budget") prepared by the Mortgage Loan borrower(s) for the Collateral Property that secures the Mortgage Loan,

d. The most recent electronic borrower rent roll file (the "Borrower Rent Roll File") for the Collateral Property that secures the Mortgage Loan,

e. The lease agreements (the "Leases") relating to the commercial tenant(s) at the Collateral Property that secures the Mortgage Loan,

f. An asset summary report (the "ASR"),

g. An underwritten rent roll (the "Underwritten Rent Roll") for the Collateral Property that secures the Mortgage Loan,

---

| | |
|:---|:---|
| ![](eylogo2.jpg) | Page 2 of 3 |

---

h. An electronic underwriting file (the "Underwriting File") prepared by JPMCB containing:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. The revenue and expense information for the Specified Periods and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. The underwritten revenue and expense information for the underwritten period (the "Underwritten Period")

for the Collateral Property that secures the Mortgage Loan,

i. Instructions, assumptions and methodologies (the "Underwriting Instructions and Adjustments") used to prepare the information on the ASR, Underwritten Rent Roll and/or Underwriting File, which were included as footnotes to the Underwriting File and/or were separately provided in e-mail or other written correspondence from JPMCB and

j. Instructions, assumptions and methodologies, which are described in Attachment A.

For the purpose of the procedures described in this report, the Borrower Operating Statement Data Files, Appraisal, Borrower Budget, Borrower Rent Roll File and Leases are hereinafter collectively referred to as the "Source Document(s)."

The procedures included in Attachment A were limited to comparing or recalculating certain information that is further described in Attachment A. The Depositor is responsible for the Subject Matter, Source Document(s), ASR, Underwritten Rent Roll, Underwriting File, Underwriting Instructions and Adjustments and the determination of the instructions, assumptions and methodologies that are described herein. We were not requested to perform, and we have not performed, any procedures other than those listed in Attachment A with respect to the ASR, Underwritten Rent Roll or Underwriting File. We have not verified, and we make no representation as to, the appropriateness, accuracy, completeness or reasonableness of the Source Document(s), ASR, Underwriting Instructions and Adjustments or any other information provided to us, or that we were instructed to obtain, as applicable, by JPMCB, on behalf of the Depositor, upon which we relied in forming our findings. We performed no procedures to compare any information contained in any Source Document or the ASR to any information contained in any other Source Document or the ASR, except as described in Attachment A. Accordingly, we make no representation and express no opinion or conclusion as to: (a) the existence of the Mortgage Loan, (b) the ability of any Mortgage Loan borrower(s) to repay the Mortgage Loan, (c) questions of legal or tax interpretation or (d) the appropriateness, accuracy, completeness or reasonableness of any instructions, assumptions and methodologies provided to us by the Depositor or JPMCB, on behalf of the Depositor, that are described in this report. We undertake no responsibility to update this report for events and circumstances occurring after the date hereof.

This agreed-upon procedures engagement was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants (the "AICPA"). An agreed-upon procedures engagement involves the practitioner performing specific procedures that the Specified Parties have agreed to and acknowledged to be appropriate for the purpose of the engagement and reporting on findings based on the procedures performed. We were not engaged to, and did not, conduct an examination to express an opinion or a review to express a conclusion in accordance with attestation standards established by the AICPA on any of the items referred to herein. 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 to you.

---

| | |
|:---|:---|
| ![](eylogo2.jpg) | Page 3 of 3 |

---

The agreed-upon procedures described in this report were not performed for the purpose of:

a. Satisfying any criteria for due diligence published by a nationally recognized statistical rating organization (a "rating agency") or

b. Making any findings with respect to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. The value of the collateral securing the Mortgage Loan,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. Whether the originator(s) of the Mortgage Loan complied with federal, state or local laws or regulations or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. Any other factor or characteristic of the Mortgage Loan 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.

We are required to be independent of the Depositor and to meet our other ethical responsibilities, as applicable for agreed-upon procedures engagements set forth in the Preface: Applicable to All Members and Part 1 – Members in Public Practice of the Code of Professional Conduct established by the AICPA. Independence requirements for agreed-upon procedures engagements are less restrictive than independence requirements for audit and other attestation services.

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

/s/ Ernst & Young LLP

2 June 2025

---

| | |
|:---|:---|
| ![](eylogo2.jpg) | **Attachment A**<br> Page 1 of 3 |

---

**<u>Background</u>**

For the purpose of the procedures described in this report, the Depositor indicated that the assets of the Issuing Entity will consist primarily of a floating rate commercial mortgage loan (the "Mortgage Loan") secured by a commercial property (the "Collateral Property").

**<u>Procedures performed and our associated findings</u>**

*Operating Statement Comparison and Recalculation Procedures*

1. Using the applicable Source Document(s) listed on the AUP Findings Schedule (as defined herein) and the Underwriting Instructions and Adjustments (as applicable), we compared, or recalculated and compared, the:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Effective gross revenue or total revenues,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Total expenses and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Net operating income or net cash flow

for each Specified Period that is shown in the applicable Source Document(s) to the corresponding information on the Underwriting File. We provided JPMCB a list of any differences that were found (subject to the instruction(s) provided by the Depositor described below).

For the purpose of this procedure, the Depositor instructed us to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Omit non-cash and non-recurring revenues and expenses that are shown on the Borrower Operating Statement Data Files from the comparison of the information that is shown on the Underwriting File and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Use a materiality threshold of +/- 3%, calculated as a percentage of the value as shown in the applicable Source Document(s), which is also below $10,000.

*Cashflow Reimbursement Comparison and Recalculation Procedures*

2. Using the applicable Source Document(s) listed on the AUP Findings Schedule and the Underwriting Instructions and Adjustments (as applicable), we compared, or recalculated and compared, the cash flow reimbursements for the five largest tenants (by underwritten base rent revenue as shown on the Underwritten Rent Roll) at the Collateral Property that secures the Mortgage Loan, as shown in the applicable Source Document(s), to the corresponding underwritten cash flow reimbursements on the Underwritten
Rent Roll or Underwriting File. We provided JPMCB a list of any differences that were found (subject to the instruction(s) provided by the Depositor described below).

For the purpose of this procedure, the Depositor instructed us to use a materiality threshold of +/- 10%, calculated as a percentage of the value as shown in the applicable Source Document(s), which is also below $10,000.

---

| | |
|:---|:---|
| ![](eylogo2.jpg) | **Attachment A**<br> Page 2 of 3 |

---

*Supporting Expense Comparison and Recalculation Procedures*

3. Using the applicable Source Document(s) listed on the AUP Findings Schedule and the Underwriting Instructions and Adjustments (as applicable), we compared, or recalculated and compared, the tax expense and insurance expense amounts for the Underwritten Period, as shown in the applicable Source Document(s), to the corresponding information on the Underwriting File. We provided JPMCB a list of any differences that were found (subject to the instruction(s) provided by the Depositor described below).

For the purpose of this procedure, the Depositor instructed us to only identify differences where the tax expense and insurance expense amounts in the applicable Source Document(s) exceeded a -5% and -$10,000 variance from the corresponding amounts on the Underwriting File that were not explained in the Underwriting Instructions and Adjustments.

 

*Lease Expiration and Termination Comparison Procedures*

4. Using the applicable Source Document(s) listed on the AUP Findings Schedule (as defined herein) and the Underwriting Instructions and Adjustments (as applicable), we compared:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. The lease expiration date only for the commercial tenants (ordered, from largest to smallest, by the underwritten base rent revenue of each tenant) that comprise 80% of the aggregate underwritten base rent revenue (a maximum of ten tenants), as shown on the Underwritten Rent Roll, at the Collateral Property that secures the Mortgage Loan and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. The lease early termination options for the ten largest commercial tenants (by underwritten base rent revenue as shown on the Underwritten Rent Roll) at the Collateral Property that secures the Mortgage Loan,

all as shown in the applicable Source Document(s), to the corresponding information on the Underwritten Rent Roll (or ASR if the lease early termination options are not shown on the Underwritten Rent Roll). We provided JPMCB a list of any differences that were found (subject to the instruction(s) provided by the Depositor described below).

For the purpose of the lease expiration date comparison procedure, the Depositor instructed us to use a materiality threshold of +/- 90 days.

*Underwritten Cashflow Comparison and Recalculation Procedures*

5. Using:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Information on the Underwriting File,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Information in the Source Document(s),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Information in the ASR,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. Information on the Underwritten Rent Roll and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. The Underwriting Instructions and Adjustments

for the Mortgage Loan, we recalculated and compared the underwritten revenue and expense line items on the Underwriting File. We provided JPMCB a list of any differences that were found (subject to the instruction(s) provided by the Depositor described below).

For the purpose of this procedure, the Depositor instructed us to use a materiality threshold for each underwritten revenue and expense line item of +/- 3%, calculated as a percentage of the value as shown on the Underwriting File, which is also below $25,000.

---

| | |
|:---|:---|
| ![](eylogo2.jpg) | **Attachment A**<br> Page 3 of 3 |

---

6. Subsequent to the performance of the procedures described in the preceding Items, JPMCB, on behalf of the Depositor, provided us with an updated ASR, Underwritten Rent Roll and Underwriting File for the Mortgage Loan, which included updated Underwriting Instructions and Adjustments. As instructed by the Depositor, we compared the results of the recalculations or comparisons for the Mortgage Loan that are described in the preceding Items to the corresponding information on the updated ASR, Underwritten
Rent Roll or Underwriting File. All such compared information was in agreement. Attached as Exhibit 1 to Attachment A is a schedule for the Mortgage Loan (the "AUP Findings Schedule"), which contains the primary Source Document(s) for the Mortgage Loan that were used to perform the procedures described in the preceding Items above and the results of the comparison procedures described in the preceding two sentences of this Item.

**Exhibit 1 to Attachment A**

**<u>AUP Findings Schedule</u>**

---

| | | | |
|:---|:---|:---|:---|
| **BFLD Trust 2025-EWEST** | **BFLD Trust 2025-EWEST** | **BFLD Trust 2025-EWEST** | **BFLD Trust 2025-EWEST** |
| The following items refer to the procedures described in Attachment A: | The following items refer to the procedures described in Attachment A: |  |  |
| **Item** | **Description of the Procedures** | **Primary Source Document(s) Used** | **Findings** |
|  | OPERATING STATEMENT COMPARISON AND RECALCULATION PROCEDURES |  |  |
| 1 | Compare, or recalculate and compare, the (i) effective gross revenue or total revenues, (ii) total expenses and (iii) net operating income or net cash flow information shown in the Source Document(s) listed (as applicable) for each Specified Period to the corresponding information on the Underwriting File. Identify any variance above a 3% and $10,000 threshold. | Borrower Operating Statement Data Files, Appraisal and Underwriting Instructions and Adjustments | No Exceptions Noted |
|  | CASHFLOW REIMBURSEMENT COMPARISON AND RECALCULATION PROCEDURES |  |  |
| 2 | Compare, or recalculate and compare, the cash flow reimbursements for the five largest Collateral Properties (by underwritten base rent revenue) in the Source Document(s) listed (as applicable) to the corresponding underwritten cash flow reimbursements on the Underwritten Rent Roll or Underwriting File. Identify any variance above a 10% and $10,000 threshold. | Leases | No Exceptions Noted |
|  | SUPPORTING EXPENSE COMPARISON AND RECALCULATION PROCEDURES |  |  |
| 3 | Compare, or recalculate and compare, the tax expense and insurance expense amounts shown in the Source Document(s) listed (as applicable) to the corresponding amounts for the Underwritten Period on the Underwriting File. Identify any variance that exceeds a -5% and -$10,000 threshold. | Borrower Budget | No Exceptions Noted |
|  | LEASE EXPIRATION AND TERMINATION COMPARISON PROCEDURES |  |  |
| 4 | Compare the lease expiration date (only for the tenants (ordered by underwritten base rent revenue of each tenant) that comprise 80% of the aggregate underwritten base rent revenue) with a maximum of ten tenants and lease early termination options (for the top ten tenants by underwritten base rent revenue) that are shown in the Source Document(s) listed (as applicable) to the corresponding information on the Underwritten Rent Roll (or ASR if the lease early termination options are not shown on the Underwritten Rent Roll). Identify any variance above a 90-day threshold. | Leases | No Exceptions Noted |
|  | UNDERWRITTEN CASHFLOW COMPARISON AND RECALCULATION PROCEDURES |  |  |
| 5 | Using the information on the Underwriting File, Source Document(s), ASR, Underwritten Rent Roll and the Underwriting Instructions and Adjustments (footnotes), recalculate the underwritten revenue and expense line items that are shown on the Underwriting File. Identify any variance above a +/-3% and +/-$25,000 threshold. | Underwriting File, Source Document(s), ASR, Underwritten Rent Roll and Underwriting Instructions and Adjustments | No Exceptions Noted |
| *\*\*N/A: Not Applicable* | *\*\*N/A: Not Applicable* |  |  |

---