# EDGAR Filing Document

**Accession Number:** 0002106400
**File Stem:** 0001539497-26-000731
**Filing Date:** 2026-2
**Character Count:** 23519
**Document Hash:** 165a7446b813732cac7efc7fb7233af9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001539497-26-000731.hdr.sgml**: 20260219

**ACCESSION NUMBER**: 0001539497-26-000731

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 3

**CONFORMED PERIOD OF REPORT**: 20260219

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260219

**DATE AS OF CHANGE**: 20260219

**ABS ASSET CLASS**: Commercial mortgages

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Benchmark 2026-V20 Mortgage Trust
- **CENTRAL INDEX KEY:** 0002106400
- **STANDARD INDUSTRIAL CLASSIFICATION:** ASSET-BACKED SECURITIES [6189]
- **ORGANIZATION NAME:** Office of Structured Finance
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-283864-03
- **FILM NUMBER:** 26655414

**BUSINESS ADDRESS:**
- **STREET 1:** 60 WALL STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10005
- **BUSINESS PHONE:** (212) 250-2500

**MAIL ADDRESS:**
- **STREET 1:** 60 WALL STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10005

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, DC 20549**

________________

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the**

**Securities Exchange Act of 1934**

Date of report (Date of earliest event reported): February 19, 2026

Central Index Key Number of the issuing entity: 0002106400

<u>Benchmark 2026-V20 Mortgage Trust</u>

(Exact name of Issuing Entity)

Central Index Key Number of the depositor: 0001013454

<u>Deutsche Mortgage & Asset Receiving Corporation</u> 

(Exact Name of Registrant as Specified in its Charter)

Central Index Key Number of the sponsor: 0001541294

<u>German American Capital Corporation</u> 

Central Index Key Number of the sponsor: 0001541502

<u>Goldman Sachs Mortgage Company</u>

Central Index Key Number of the sponsor: 0001701238

<u>Citi Real Estate Funding Inc.</u>

Central Index Key Number of the sponsor: 0001549574

<u>Barclays Capital Real Estate Inc.</u>

Central Index Key Number of the sponsor: 0000927971

<u>Bank of Montreal</u>

(Exact Names of the Sponsors as Specified in their Charters)

<u>Delaware</u> <u>333-283864-03</u> <u>04-3310019</u> <br> (State or Other Jurisdiction of Incorporation) (Commission File Number) (I.R.S. Employer Identification No.)

<u>1 Columbus Circle, New York, New York</u> <u>10019</u> <br> (Address of Principal Executive Offices) (ZIP Code)

Registrant's telephone number, including area code <u>(212) 250-2500</u>

<u>Not applicable</u>

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any following provisions:

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

**Item 8.01. Other Events.**

On February 19, 2026, Deutsche Mortgage & Asset Receiving Corporation (the "<u>Registrant</u>") caused the issuance of the Benchmark 2026-V20 Mortgage Trust ("<u>Issuing Entity</u>") Commercial Mortgage Pass-Through Certificates, Series 2026-V20 (the "<u>Certificates</u>"), pursuant to the Pooling and Servicing Agreement, dated as of February 1, 2026 (the "<u>Pooling and Servicing Agreement</u>"), between the Registrant, as depositor, Midland Loan Services, a Division of PNC Bank, National Association, as master servicer, Rialto Capital Advisors, LLC, as special servicer, Computershare Trust Company, National Association, as trustee, certificate administrator, paying agent and custodian, and Park Bridge Lender Services LLC, as operating advisor and as asset representations reviewer. Capitalized terms used but not defined herein shall have the meanings assigned to them in the Pooling and Servicing Agreement.

The Certificates consist of (x) the following classes (each, a "<u>Class</u>"), designated as (i) the Class A-1, Class A-2, Class A-3, Class X-A, Class X-B, Class A-M, Class B and Class C Certificates (collectively, the "<u>Publicly Offered Certificates</u>") and (ii) the Class X-D, Class X-E, Class D, Class E, Class F-RR, Class G-RR, Class S and Class R Certificates (collectively, the "<u>Privately Offered Certificates</u>") and (y) the VRR Interest.

The Registrant sold all of the Publicly Offered Certificates, having an aggregate certificate balance of $770,246,000, to Deutsche Bank Securities Inc. ("<u>DBSI</u>"), Goldman Sachs & Co. LLC ("<u>GS&Co.</u>"), Citigroup Global Markets Inc. ("<u>CGMI</u>"), Barclays Capital Inc. ("<u>BCI</u>"), BMO Capital Markets Corp. ("<u>BMO Capital</u>"), Academy Securities, Inc. ("<u>Academy</u>") and Mischler Financial Group, Inc. ("<u>Mischler</u>" and, together with DBSI, GS&Co., CGMI, BCI, BMO Capital and Academy, the "<u>Underwriters</u>"), pursuant to an Underwriting Agreement, dated as of January 29, 2026 (the "<u>Underwriting Agreement</u>"), between the Registrant, German American Capital Corporation ("<u>GACC</u>") and the Underwriters. The Publicly Offered Certificates were offered by the Underwriters for sale to the public, pursuant to the Registrant's Preliminary Prospectus, dated January 26, 2026 (the "<u>Preliminary Prospectus</u>"), and by the Prospectus, dated January 29, 2026 (the "<u>Prospectus</u>"), in negotiated transactions or otherwise, at varying prices determined at the time of sale.

In connection with the issuance and sale to the Underwriters of the Publicly Offered Certificates, a legal opinion was rendered related to the validity of, and certain federal income tax considerations relating to, the Publicly Offered Certificates, which legal opinion is attached hereto as Exhibits 5.1, 8.1 and 23.1.

The Registrant sold all of the Privately Offered Certificates, having an aggregate certificate balance of $97,637,584, to DBSI, GS&Co., CGMI, BCI, BMO Capital, Academy and Mischler (collectively in such capacity, the "<u>Initial Purchasers</u>") pursuant to a Certificate Purchase Agreement, dated as of January 29, 2026, between the Registrant, GACC and the Initial Purchasers. The Privately Offered Certificates were sold in a transaction exempt from registration under the Securities Act of 1933, as amended, pursuant to Section 4(a)(2) of the Act.

The net proceeds of the offering to the Registrant of the issuance of the Publicly Offered Certificates, after deducting expenses payable by the Registrant of $5,573,948, were approximately $823,813,725. Of the expenses paid by the Registrant, approximately $0 was paid directly to affiliates of the Registrant, $50,000 in the form of fees were paid to the Underwriters, $130,000 were paid to or for the Underwriters and $5,393,948 were other expenses. All of the foregoing expense amounts are the Registrant's reasonable estimates of such expenses. No underwriting discounts and commissions or finder's fees were paid by the Registrant; the Publicly Offered Certificates were offered by the Underwriters for sale to the public in negotiated transactions or otherwise at varying prices determined at the time of sale. The Registrant also sold to the Initial Purchasers on such date the Privately Offered Certificates, having an aggregate certificate balance of $97,637,584, in each case, in private placement transactions exempt from registration under the Securities Act of 1933, as amended, pursuant to Section 4(2) of the Act. Further information regarding such sales (including, as to the price per class of Publicly Offered Certificates) is available in the Underwriting Agreement attached as Exhibit 1.1 to the Registrant's Form 8-K filed on January 29, 2026 and in the Prospectus referred to above. The related registration statement (file no. 333-283864) was originally declared effective on March 5, 2025.

<u>Credit Risk Retention</u>

GACC, in its capacity as "retaining sponsor" (in such capacity, the "<u>Retaining Sponsor</u>") is satisfying its credit risk retention obligation under Regulation RR, 12 C.F.R. Part 244 (the "<u>Risk Retention Rule</u>") in connection with the securitization of the Mortgage Loans referred to above by the purchase on the Closing Date:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) by the Retaining Sponsor or its "majority-owned affiliate" (as defined in Regulation RR) of a "single vertical security"
(as defined in Regulation RR) that is an "eligible vertical interest" (as defined in Regulation RR) in the Issuing Entity,
with an aggregate initial certificate balance of approximately $18,978,856 as of the Closing Date, consisting of the VRR Interest; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) by RREF V – D AIV RR L, LLC, acting as third-party purchaser under the Risk Retention Rule, of an "eligible horizontal
residual interest" (as defined in Regulation RR) in the Issuing Entity, with an aggregate initial certificate balance of $49,903,584,
consisting of the Class F-RR and G-RR Certificates (together, the " <u>HRR Certificates</u> ").

The VRR Interest represents at least 2.140% of the sum of the initial certificate balance of all of the Certificates as of the Closing Date. The VRR Interest will entitle the holder thereof to a specified percentage of the amounts paid on each other class of ABS interests (as defined in Regulation RR) in the Issuing Entity (the "<u>ABS Interests</u>"). The fair value of the HRR Certificates is equal to approximately $26,433,679, representing approximately 2.896% of the aggregate fair value of all ABS Interests. The aggregate fair value of all ABS Interests is approximately $912,782,403. The fair values referenced in the preceding two sentences are based on actual prices and final tranche sizes as of the Closing Date for all Certificates (other than the Class R Certificates) issued by the Issuing Entity.

The Retaining Sponsor estimates that, if it had relied solely on retaining an "eligible horizontal residual interest" in order to meet the credit risk retention requirements of the Risk Retention Rule with respect to this securitization transaction, it would have retained an eligible horizontal residual interest with an aggregate fair value dollar amount of approximately $45,639,120, representing 5.0% of the aggregate fair value, as of the Closing Date, of all ABS Interests.

There are no material differences between (a) the valuation methodology or any of the key inputs and assumptions that were used in calculating the fair value or range of fair values disclosed in the Preliminary Prospectus filed with the Securities and Exchange Commission on January 26, 2026 under the heading "Credit Risk Retention" and (b) the valuation methodology or the key inputs and assumptions that were used in calculating the fair values set forth above. The fair values disclosed in the Preliminary Prospectus under the heading "Credit Risk Retention" assumed (i) an initial Certificate Balance of the Class A-2 Certificates of $274,943,000, while the fair value set forth above assumes an initial Certificate Balance of the Class A-2 Certificates of $150,000,000, and (ii) an initial Certificate Balance of the Class A-3 Certificates of $328,087,000, while the fair value set forth above assumes an initial Certificate Balance of the Class A-3 Certificates of $453,030,000.

**Item 9.01. Financial Statements and Exhibits.**

(d) Exhibits:

[5.1](n5600x17_ex5-1.htm) [Legality Opinion of Sidley Austin LLP, dated February 19, 2026.](n5600x17_ex5-1.htm)

[8.1](n5600x17_ex5-1.htm) [Tax Opinion of Sidley Austin LLP, dated February 19, 2026 (included as part of Exhibit 5.1).](n5600x17_ex5-1.htm)

[23.1](n5600x17_ex5-1.htm) [Consent of Sidley Austin LLP (included as part of Exhibit 5.1).](n5600x17_ex5-1.htm)

SIGNATURES

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

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| | |
|:---|:---|
| DEUTSCHE MORTGAGE & ASSET RECEIVING CORPORATION | DEUTSCHE MORTGAGE & ASSET RECEIVING CORPORATION |
| By: | /s/ Robert-Christopher Jones |
|  | Name: Robert-Christopher Jones<br>Title: Managing Director |
| By: | /s/ Matt Smith |
|  | Name: Matt Smith<br>Title:Director |

---

Dated: February 19, 2026

## Exhibit 5.1

**Exhibit 5.1**

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| | |
|:---|:---|
| ![](sidleylogo.jpg) | Sidley Austin LLP<br> 787 Seventh Avenue<br> New York, NY 10019<br> +1 212 839 5300<br> +1 212 839 5599 FAX<br>AMERICA • ASIA PACIFIC • EUROPE |

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February 19, 2026

Deutsche Mortgage & Asset Receiving Corporation<br> 1 Columbus Circle<br> New York, New York 10019

Re: Deutsche Mortgage & Asset Receiving Corporation<br> Benchmark 2026-V20 Mortgage Trust<u><br> Commercial Mortgage Pass-Through Certificates, Series 2026-V20</u>

Ladies and Gentlemen:

We have acted as counsel to Deutsche Mortgage & Asset Receiving Corporation, a Delaware corporation (the "<u>Depositor</u>"), in connection with the issuance of approximately $770,246,000 aggregate initial certificate balance of Benchmark 2026-V20 Mortgage Trust Commercial Mortgage Pass-Through Certificates, Series 2026-V20, Class A-1, Class A-2, Class A-3, Class X-A, Class X-B, Class A-M, Class B and Class C (collectively, the "<u>Registered Certificates</u>") and Class X-D, Class X-E, Class D, Class E, Class F-RR, Class G-RR, Class S and Class R and the VRR Interest, pursuant to the Pooling and Servicing Agreement, dated as of February 1, 2026 (the "<u>Pooling and Servicing Agreement</u>"), between the Depositor, as depositor, Midland Loan Services, a Division of PNC Bank, National Association, as master servicer, Rialto Capital Advisors, LLC, as special servicer, Computershare Trust Company, N.A., as trustee, certificate administrator, paying agent and custodian, and Park Bridge Lender Services LLC, as operating advisor and asset representations reviewer.

For purposes of rendering this opinion letter, we have reviewed:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the Registration Statement on Form SF-3 (Registration No. 333-283864) relating to the Registered Certificates (the "<u>Registration Statement</u>"), filed with the Securities and Exchange Commission (the "<u>Commission</u>") under the Securities Act of 1933, as amended (the "<u>Act</u>"), and declared effective on March 5, 2025;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the Prospectus, dated January 29, 2026 (the "<u>Prospectus</u>") relating to the Registered Certificates;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the Underwriting Agreement, dated as of January 29, 2026 (the "<u>Underwriting Agreement</u>"), between the Depositor, German American Capital Corporation, Deutsche Bank Securities Inc. ("<u>DBSI</u>"), Goldman Sachs & Co. LLC ("<u>GS&Co.</u>"), Citigroup Global Markets Inc. ("<u>CGMI</u>"), Barclays Capital Inc. ("<u>BCI</u>"), BMO Capital Markets Corp. ("<u>BMO Capital</u>"), Academy Securities, Inc. ("<u>Academy</u>") and Mischler Financial Group, Inc.

Sidley Austin (NY) LLP is a Delaware limited liability partnership doing business as Sidley Austin LLP and practicing in affiliation with other Sidley Austin partnerships.

![PPT_Sidley Austin LLP.gif](sidleylogo.jpg)

Deutsche Mortgage & Asset Receiving Corporation

February 19, 2026

("<u>Mischler</u>" and, together with DBSI, GS&Co., CGMI, BCI, BMO Capital and Academy, the "<u>Underwriters</u>");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) evidence satisfactory to us with respect to the effectiveness of the Registration Statement under the Act; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) the forms of the Registered Certificates attached as exhibits to the Pooling and Servicing Agreement.

In connection with the foregoing, we have examined originals, or copies certified or otherwise identified to our satisfaction, of such documents, corporate records and other instruments as we deemed necessary for the purposes of this opinion letter. In our examination, we have assumed the following: (a) the genuineness of all signatures; (b) the legal capacity of natural persons; (c) the authenticity of all documents submitted to us as originals; (d) the conformity to original documents of all documents submitted to us as certified or photostatic copies and the authenticity of the originals of such documents; (e) the conformity of the text of each document filed with the Commission through its Electronic Data Gathering, Analysis and Retrieval system to the printed documents reviewed by us; and (f) the truth, accuracy and completeness of the information, representations and warranties contained in the records, documents, instruments and certificates that we have reviewed. As to any facts material to the opinions expressed herein that were not known to us, we have relied upon (1) certificates, statements and representations of officers and other representatives of the Depositor and others and (2) a certificate of the Secretary of State of the State of Delaware as to the good standing of the Depositor, dated February 13, 2026 (the "<u>Delaware Good Standing Certificate</u>").

Our opinions set forth below are subject to: (1) general principles of equity, including concepts of materiality, reasonableness, good faith and fair dealing and the doctrine of estoppel; (2) the possible unavailability of specific performance and injunctive relief, regardless of whether considered in a proceeding in equity or at law; (3) the effect of certain laws, rules, regulations and judicial and other decisions upon enforceability; (4) bankruptcy, insolvency, bail in, receivership, reorganization, liquidation, voidable preference, fraudulent conveyance and transfer, moratorium and other similar laws affecting the rights of creditors or secured parties generally, in each case, whether by operation of law, contract, judicial or regulatory action or otherwise, and the effect of, to the extent applicable, the rights of creditors or of secured creditors of national banks or of "financial companies" (as defined in Section 201 of the Dodd-Frank Wall Street Reform and Consumer Protection Act) or their affiliates; and (5) public policy considerations underlying the securities laws, to the extent that such public policy considerations limit the enforceability of any provision of any agreement that purports or is construed to provide indemnification with respect to securities law violations.

![PPT_Sidley Austin LLP.gif](sidleylogo.jpg)

Deutsche Mortgage & Asset Receiving Corporation

February 19, 2026

Based upon and subject to the foregoing, we are of the opinion that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. The Registered Certificates, when duly executed, authenticated and delivered in accordance with the terms and conditions of the Pooling and Servicing Agreement, and when delivered and paid for by the Underwriters pursuant to the Underwriting Agreement, will be legally and validly issued and outstanding, fully paid and non-assessable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. The descriptions set forth under the caption "Material Federal Income Tax Considerations" in the Prospectus, although they do not discuss all federal income tax consequences that may be applicable to the individual circumstances of particular investors (some of which may be subject to special treatment under the Internal Revenue Code of 1986, as amended (the "<u>Code</u>")), otherwise correctly describe the material aspects of the federal income tax treatment of an investment in the Registered Certificates commonly applicable to investors that are U.S. Persons (as defined in the Prospectus) and, where expressly indicated therein, to investors that are not U.S. Persons. We also hereby confirm the opinion expressly set forth under such captions as our opinion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. Based solely on the Delaware Good Standing Certificate, the Depositor is validly existing and in good standing under the laws of the State of Delaware.

The opinion set forth in paragraph B above is limited to the United States federal income tax matters specifically covered thereby, and we have not been asked to address, nor have we addressed, any other tax consequences regarding the transaction referred to above or any other transaction. The opinion set forth in paragraph B above is based on the current provisions of the Code and the Treasury Regulations issued or proposed thereunder, revenue rulings, revenue procedures and other published releases of the Internal Revenue Service and current case law, any of which can change at any time. Any change can apply retroactively and modify the legal conclusions upon which such opinion is based.

This opinion letter is rendered on the date hereof and we do not undertake, and hereby disclaim, any obligation to advise the Depositor of any changes in law or fact, whether or not material, that may be brought to our attention at a later date.

We hereby consent to the filing of this opinion letter as an exhibit to the Registration Statement and to the discussion of our opinions set forth in this opinion letter under the captions "Material Federal Income Tax Considerations" and "Legal Matters" in the Prospectus. In giving such consent, we do not consider that we are "experts" within the meaning of the term as used in the Act or the rules and regulations of the Commission issued thereunder, with respect to any part of the Registration Statement, including this opinion letter as an exhibit or otherwise.

![PPT_Sidley Austin LLP.gif](sidleylogo.jpg)

Deutsche Mortgage & Asset Receiving Corporation

February 19, 2026

We express no opinion as to any laws other than the federal laws of the United States of America, the laws of the State of New York and, solely with respect to the opinion set forth in paragraph (C) above, the Delaware General Corporation Law. We do not express any opinion, either implicitly or otherwise, on any issue not expressly addressed above. We express no opinion with respect to any Series of Certificates for which we do not act as counsel to the Depositor.

Very truly yours,

/s/ Sidley Austin LLP

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