# EDGAR Filing Document

**Accession Number:** 0001258361
**File Stem:** 0001539497-26-001848
**Filing Date:** 2026-6
**Character Count:** 76017
**Document Hash:** 9f4aab468b2d2187784cb5a521af9fee
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001539497-26-001848.hdr.sgml**: 20260623

**ACCESSION NUMBER**: 0001539497-26-001848

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

**PUBLIC DOCUMENT COUNT**: 3

**CONFORMED PERIOD OF REPORT**: 20260623

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

**FILED AS OF DATE**: 20260623

**DATE AS OF CHANGE**: 20260623

**ABS RULE**: RULE-15GA2

**REGISTERED ENTITY**: N

**ABS ASSET CLASS**: Commercial mortgages

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CITIGROUP COMMERCIAL MORTGAGE SECURITIES INC
- **CENTRAL INDEX KEY:** 0001258361
- **STANDARD INDUSTRIAL CLASSIFICATION:** ASSET-BACKED SECURITIES [6189]
- **ORGANIZATION NAME:** Office of Structured Finance
- **EIN:** 861073506
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** ABS-15G
- **SEC ACT:** Dodd Frank Act
- **SEC FILE NUMBER:** 025-00521
- **FILM NUMBER:** 261110641

**BUSINESS ADDRESS:**
- **STREET 1:** 390 GREENWICH STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10013
- **BUSINESS PHONE:** 2128165343

**MAIL ADDRESS:**
- **STREET 1:** 390 GREENWICH STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10013
**DEPOSITOR**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CITIGROUP COMMERCIAL MORTGAGE SECURITIES INC
- **CENTRAL INDEX KEY:** 0001258361
- **STANDARD INDUSTRIAL CLASSIFICATION:** ASSET-BACKED SECURITIES [6189]
- **ORGANIZATION NAME:** Office of Structured Finance
- **EIN:** 861073506
- **STATE OF INCORPORATION:** DE

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

**BUSINESS ADDRESS:**
- **STREET 1:** 390 GREENWICH STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10013
- **BUSINESS PHONE:** 2128165343

**MAIL ADDRESS:**
- **STREET 1:** 390 GREENWICH STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10013
**SECURITIZER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CITIGROUP COMMERCIAL MORTGAGE SECURITIES INC
- **CENTRAL INDEX KEY:** 0001258361
- **STANDARD INDUSTRIAL CLASSIFICATION:** ASSET-BACKED SECURITIES [6189]
- **ORGANIZATION NAME:** Office of Structured Finance
- **EIN:** 861073506
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** ABS-15G
- **SEC ACT:** Dodd Frank Act
- **SEC FILE NUMBER:** 025-00521

**BUSINESS ADDRESS:**
- **STREET 1:** 390 GREENWICH STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10013
- **BUSINESS PHONE:** 2128165343

**MAIL ADDRESS:**
- **STREET 1:** 390 GREENWICH STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10013

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM ABS-15G**

**ASSET-BACKED SECURITIZER**

**REPORT PURSUANT TO SECTION 15G OF**

**THE SECURITIES EXCHANGE ACT OF 1934**

Check the appropriate box to indicate the filing obligation which this form is intended to satisfy:<br>

<u> </u> 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) [_]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>X</u> Rule 15Ga-2 under the Exchange Act (17 CFR 240.15Ga-2)

Central Index Key Number of depositor: 0001258361

**FS Commercial Mortgage Trust 2026-PALM**<br> ______________________________________________________________________________________

(Exact name of issuing entity as specified in its charter)

Central Index Key Number of issuing entity: Not applicable

Central Index Key Number of underwriter: Not applicable

Richard Simpson, Citigroup Commercial Mortgage Securities Inc., (212) 816-5343<br> ______________________________________________________________________________________

(Name and telephone number, including area code, of the person to contact in connection with this filing)

**PART II – FINDINGS AND CONCLUSIONS OF THIRD-PARTY DUE DILIGENCE REPORTS**

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

See Report of Independent Accountants on Applying Agreed-Upon Procedures, dated June 23, 2026, which was obtained by the depositor, attached as Exhibit 99.1 to this Form ABS-15G.

**Item 2.02 Findings and Conclusions of a Third Party Due Diligence Report Obtained by the Underwriter.**

Not Applicable

**Exhibits.**

99.1 Report of Independent Accountants on Applying Agreed-Upon Procedures, dated June 23, 2026.

**SIGNATURES**

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

Date: June 23, 2026

Citigroup Commercial Mortgage Securities Inc.

(Depositor)

<u>/s/ Richard Simpson</u>

Name: Richard Simpson<br> Title: President

**EXHIBIT INDEX**

Exhibit Number Description <br>Exhibit 99.1 Report of Independent Accountants on Applying Agreed-Upon Procedures, dated June 23, 2026.

## Exhibit 99.1

**Exhibit 99.1**

![[PWC Logo]](pwclogo.jpg)

**Report of Independent Accountants on Applying** 

**Agreed-Upon Procedures**

Citi Real Estate Funding Inc.

Citigroup Commercial Mortgage Securities Inc.

390 Greenwich Street

New York, NY 10013

We ("us" or "PwC") have performed the procedures enumerated below, which were agreed to by Citi Real Estate Funding Inc. ("CREFI") and Citigroup Commercial Mortgage Securities Inc. (together with CREFI, the "Company", as the engaging party), Citigroup Global Markets Inc., J.P. Morgan Securities LLC and JPMorgan Chase Bank, National Association, 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) related to the FS Commercial Mortgage Trust 2026-PALM, Commercial Mortgage Pass-Through Certificates, Series 2026-PALM securitization (the "Transaction"). The Company (the "Responsible Party") is responsible for the Transaction and 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 the 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 existence of the assets or collateral securing
such assets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The rights of any party including, the Specified
Parties, the Responsible Party, the issuer, or the Transaction have to the assets or collateral securing such assets or any obligations
on those assets or collateral securing such assets;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The value of the collateral securing such assets;
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.

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 July 9, 2026.

&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 23, 2026 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 FS 2026-PALM Accounting Tape Final.xlsx (provided on June 23, 2026).

&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 certain 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 shown within Exhibit B.

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&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 shown within Exhibit A.

Source Documents included in the Loan File:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The phrase "STR Report" refers to monthly STAR reports prepared
for the Mortgaged Property for the period from 2023 through 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The phrase "April 2026 PMB STR Report" refers to the STAR report
prepared for the Mortgaged Property for the month of April 2026

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The phrase "Appraisal Report" refers to a draft or signed appraisal
document or exhibit, appraisal summary and/or a restricted appraisal document.

&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 final phase I and
phase II (if applicable) environmental document or exhibit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The phrase "Fee Schedule" refers to the documentation for the
administrative fee rate related to the Transaction.

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The phrase "Interest Rate Cap Agreement" refers to a signed or
draft interest rate cap agreement, interest rate cap confirmation or a transaction summary document.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The phrase "Loan Agreement" refers to a signed or draft loan
agreement and any amendments, slip pages or exhibits thereof, a signed or draft promissory note, purchase and assignment agreements and/or
other security agreements.

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

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The phrase "Underwriting File" refers to the electronic underwriting
file consisting of historical and underwritten cash flow statements and underwritten rent roll prepared by the Company's underwriting
team.

The documents made available to us by the Company for purposes of performing the procedures may have included drafts, unsigned, or non-final versions. We have not verified that such documents were executed or represent the final agreed-upon terms, and did not perform any procedures to compare such documents to executed versions, if any. We did not validate, confirm, or review any signatures for authenticity. Accordingly, we make no representation regarding the completeness, accuracy, or

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finality of such documents.

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 27, 2026 through June 23, 2026, the Company provided us with the Source Documents related to the Collateral for which:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· We 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;· We 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;· Certain Specified Attributes were provided by
the Company and were neither compared to the corresponding Source Documents nor recalculated. These attributes are listed in Exhibit A
as a "Company Provided Attribute".

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 perform any procedures with respect to the Specified Attributes denoted with a Source Document of "Company Provided Attribute", 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 Transaction or 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

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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 23, 2026

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FS 2026-PALM <br> Loan File Procedures EXHIBIT A

**Exhibits**

Exhibit A – Loan File Procedures

Exhibit B – Recalculation Methodology

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FS 2026-PALM <br> Loan File Procedures EXHIBIT A

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**#** | &nbsp;&nbsp;**Specified Attribute** | &nbsp;&nbsp;**Source Document** | &nbsp;&nbsp;**Tolerance Levels** |
| &nbsp;&nbsp;1 | &nbsp;&nbsp;Property ID | &nbsp;&nbsp;Company Provided Attribute |  |
| &nbsp;&nbsp;2 | &nbsp;&nbsp;Property Rank | &nbsp;&nbsp;Company Provided Attribute |  |
| &nbsp;&nbsp;3 | &nbsp;&nbsp;Property Name | &nbsp;&nbsp;Company Provided Attribute |  |
| &nbsp;&nbsp;4 | &nbsp;&nbsp;Property Type | &nbsp;&nbsp;Appraisal Report |  |
| &nbsp;&nbsp;5 | &nbsp;&nbsp;Property Sub-Type | &nbsp;&nbsp;Appraisal Report |  |
| &nbsp;&nbsp;6 | &nbsp;&nbsp;Address | &nbsp;&nbsp;Appraisal Report |  |
| &nbsp;&nbsp;7 | &nbsp;&nbsp;City | &nbsp;&nbsp;Appraisal Report |  |
| &nbsp;&nbsp;8 | &nbsp;&nbsp;County | &nbsp;&nbsp;Appraisal Report |  |
| &nbsp;&nbsp;9 | &nbsp;&nbsp;State | &nbsp;&nbsp;Appraisal Report |  |
| &nbsp;&nbsp;10 | &nbsp;&nbsp;Zip | &nbsp;&nbsp;Appraisal Report |  |
| &nbsp;&nbsp;11 | &nbsp;&nbsp;Market | &nbsp;&nbsp;Appraisal Report |  |
| &nbsp;&nbsp;12 | &nbsp;&nbsp;Year Built | &nbsp;&nbsp;Appraisal Report |  |
| &nbsp;&nbsp;13 | &nbsp;&nbsp;Year Renovated | &nbsp;&nbsp;Appraisal Report |  |
| &nbsp;&nbsp;14 | &nbsp;&nbsp;Site Area (Acres) | &nbsp;&nbsp;Appraisal Report |  |
| &nbsp;&nbsp;15 | &nbsp;&nbsp;Parking Spaces | &nbsp;&nbsp;Engineering Report |  |
| &nbsp;&nbsp;16 | &nbsp;&nbsp;Meeting Space (SF) | &nbsp;&nbsp;Appraisal Report |  |
| &nbsp;&nbsp;17 | &nbsp;&nbsp;Flag | &nbsp;&nbsp;Appraisal Report |  |
| &nbsp;&nbsp;18 | &nbsp;&nbsp;Franchise Brand | &nbsp;&nbsp;Appraisal Report |  |
| &nbsp;&nbsp;19 | &nbsp;&nbsp;Flag Expiration Date | &nbsp;&nbsp;Management Agreement |  |
| &nbsp;&nbsp;20 | &nbsp;&nbsp;Flag Term Remaining | &nbsp;&nbsp;Recalculated Attribute |  |
| &nbsp;&nbsp;21 | &nbsp;&nbsp;Property Manager | &nbsp;&nbsp;Management Agreement |  |
| &nbsp;&nbsp;22 | &nbsp;&nbsp;Property Manager Expiration Date | &nbsp;&nbsp;Management Agreement |  |
| &nbsp;&nbsp;23 | &nbsp;&nbsp;Property Manager Base Mgmt. Fee | &nbsp;&nbsp;Management Agreement |  |
| &nbsp;&nbsp;24 | &nbsp;&nbsp;Total Units | &nbsp;&nbsp;Appraisal Report |  |
| &nbsp;&nbsp;25 | &nbsp;&nbsp;Unit of Measure | &nbsp;&nbsp;Appraisal Report |  |
| &nbsp;&nbsp;26 | &nbsp;&nbsp;Suites | &nbsp;&nbsp;Appraisal Report |  |
| &nbsp;&nbsp;27 | &nbsp;&nbsp;Occupancy (%) | &nbsp;&nbsp;Underwriting File |  |
| &nbsp;&nbsp;28 | &nbsp;&nbsp;Occupancy Date | &nbsp;&nbsp;Underwriting File |  |
| &nbsp;&nbsp;29 | &nbsp;&nbsp;Ownership Interest | &nbsp;&nbsp;Title Policy |  |
| &nbsp;&nbsp;30 | &nbsp;&nbsp;Mortgage Loan Closing Date Balance | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;31 | &nbsp;&nbsp;Mortgage Loan Closing Date Balance per Key | &nbsp;&nbsp;Recalculated Attribute |  |
| &nbsp;&nbsp;32 | &nbsp;&nbsp;% of Mortgage Loan Closing Date Balance | &nbsp;&nbsp;Recalculated Attribute |  |
| &nbsp;&nbsp;33 | &nbsp;&nbsp;Mortgage Loan Maturity Date Balance | &nbsp;&nbsp;Recalculated Attribute |  |
| &nbsp;&nbsp;34 | &nbsp;&nbsp;Individual As-Is Appraised Value Date | &nbsp;&nbsp;Appraisal Report |  |
| &nbsp;&nbsp;35 | &nbsp;&nbsp;Individual As-Is Appraised Value | &nbsp;&nbsp;Appraisal Report |  |
| &nbsp;&nbsp;36 | &nbsp;&nbsp;Individual As-Is Appraised Value per Key | &nbsp;&nbsp;Recalculated Attribute |  |

---

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FS 2026-PALM <br> Loan File Procedures EXHIBIT A

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**#** | &nbsp;&nbsp;**Specified Attribute** | &nbsp;&nbsp;**Source Document** | &nbsp;&nbsp;**Tolerance Levels** |
| &nbsp;&nbsp;37 | &nbsp;&nbsp;Engineering Report Provider | &nbsp;&nbsp;Engineering Report |  |
| &nbsp;&nbsp;38 | &nbsp;&nbsp;Engineering Report Date | &nbsp;&nbsp;Engineering Report |  |
| &nbsp;&nbsp;39 | &nbsp;&nbsp;Environmental Report Provider | &nbsp;&nbsp;Environmental Report |  |
| &nbsp;&nbsp;40 | &nbsp;&nbsp;Environmental Report Date | &nbsp;&nbsp;Environmental Report |  |
| &nbsp;&nbsp;41 | &nbsp;&nbsp;Phase II Recommended? | &nbsp;&nbsp;Environmental Report |  |
| &nbsp;&nbsp;42 | &nbsp;&nbsp;Seismic Zone | &nbsp;&nbsp;Engineering Report |  |
| &nbsp;&nbsp;43 | &nbsp;&nbsp;PML % | &nbsp;&nbsp;Engineering Report |  |
| &nbsp;&nbsp;44 | &nbsp;&nbsp;Origination Date | &nbsp;&nbsp;Company Provided Attribute |  |
| &nbsp;&nbsp;45 | &nbsp;&nbsp;Assumed One-month Term SOFR | &nbsp;&nbsp;Company Provided Attribute |  |
| &nbsp;&nbsp;46 | &nbsp;&nbsp;Assumed Mortgage Loan Spread | &nbsp;&nbsp;Company Provided Attribute |  |
| &nbsp;&nbsp;47 | &nbsp;&nbsp;Term SOFR Cap | &nbsp;&nbsp;Interest Rate Cap Agreement |  |
| &nbsp;&nbsp;48 | &nbsp;&nbsp;Mortgage Loan Interest Rate at Term SOFR Cap | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;49 | &nbsp;&nbsp;Term SOFR Cap Expiration Date | &nbsp;&nbsp;Interest Rate Cap Agreement |  |
| &nbsp;&nbsp;50 | &nbsp;&nbsp;Term SOFR Lookback days | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;51 | &nbsp;&nbsp;Interest Calculation (30/360 / Actual/360) | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;52 | &nbsp;&nbsp;Amort Type | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;53 | &nbsp;&nbsp;Monthly Mortgage Loan Debt Service Payment | &nbsp;&nbsp;Recalculated Attribute |  |
| &nbsp;&nbsp;54 | &nbsp;&nbsp;Annual Mortgage Loan Debt Service Payment | &nbsp;&nbsp;Recalculated Attribute |  |
| &nbsp;&nbsp;55 | &nbsp;&nbsp;Monthly Mortgage Loan Debt Service Payment at Term SOFR Cap | &nbsp;&nbsp;Recalculated Attribute |  |
| &nbsp;&nbsp;56 | &nbsp;&nbsp;Annual Mortgage Loan Debt Service Payment at Term SOFR Cap | &nbsp;&nbsp;Recalculated Attribute |  |
| &nbsp;&nbsp;57 | &nbsp;&nbsp;Grace Period | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;58 | &nbsp;&nbsp;First Loan Payment Date | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;59 | &nbsp;&nbsp;Seasoning | &nbsp;&nbsp;Recalculated Attribute |  |
| &nbsp;&nbsp;60 | &nbsp;&nbsp;Original Term to Maturity (Months) | &nbsp;&nbsp;Recalculated Attribute |  |
| &nbsp;&nbsp;61 | &nbsp;&nbsp;Remaining Term to Maturity (Months) | &nbsp;&nbsp;Recalculated Attribute |  |
| &nbsp;&nbsp;62 | &nbsp;&nbsp;Original Amortization Term (Months) | &nbsp;&nbsp;Company Provided Attribute |  |
| &nbsp;&nbsp;63 | &nbsp;&nbsp;Remaining Amortization Term (Months) | &nbsp;&nbsp;Company Provided Attribute |  |
| &nbsp;&nbsp;64 | &nbsp;&nbsp;Original IO Term (Months) | &nbsp;&nbsp;Recalculated Attribute |  |
| &nbsp;&nbsp;65 | &nbsp;&nbsp;Remaining IO Term (Months) | &nbsp;&nbsp;Recalculated Attribute |  |
| &nbsp;&nbsp;66 | &nbsp;&nbsp;Initial Maturity Date | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;67 | &nbsp;&nbsp;Floating Rate Component Extensions | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;68 | &nbsp;&nbsp;Fully Extended Maturity Date | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;69 | &nbsp;&nbsp;Lockbox | &nbsp;&nbsp;Loan Agreement |  |

---

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FS 2026-PALM <br> Loan File Procedures EXHIBIT A

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**#** | &nbsp;&nbsp;**Specified Attribute** | &nbsp;&nbsp;**Source Document** | &nbsp;&nbsp;**Tolerance Levels** |
| &nbsp;&nbsp;70 | &nbsp;&nbsp;Cash Management Type | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;71 | &nbsp;&nbsp;Cash Management Trigger | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;72 | &nbsp;&nbsp;Administrative Fee Rate (%) | &nbsp;&nbsp;Fee Schedule |  |
| &nbsp;&nbsp;73 | &nbsp;&nbsp;Prepayment Provision | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;74 | &nbsp;&nbsp;Partial Release Allowed? | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;75 | &nbsp;&nbsp;Property Release Description | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;76 | &nbsp;&nbsp;Mortgage Loan Closing Date LTV (As-is Value) | &nbsp;&nbsp;Recalculated Attribute |  |
| &nbsp;&nbsp;77 | &nbsp;&nbsp;Mortgage Loan Balloon LTV (As-is Value) | &nbsp;&nbsp;Recalculated Attribute |  |
| &nbsp;&nbsp;78 | &nbsp;&nbsp;Mortgage Loan UW NOI Debt Yield | &nbsp;&nbsp;Recalculated Attribute |  |
| &nbsp;&nbsp;79 | &nbsp;&nbsp;Mortgage Loan UW NCF Debt Yield | &nbsp;&nbsp;Recalculated Attribute |  |
| &nbsp;&nbsp;80 | &nbsp;&nbsp;Mortgage Loan UW NOI DSCR | &nbsp;&nbsp;Recalculated Attribute |  |
| &nbsp;&nbsp;81 | &nbsp;&nbsp;Mortgage Loan UW NCF DSCR | &nbsp;&nbsp;Recalculated Attribute |  |
| &nbsp;&nbsp;82 | &nbsp;&nbsp;Mortgage Loan UW NOI DSCR at Term SOFR Cap | &nbsp;&nbsp;Recalculated Attribute |  |
| &nbsp;&nbsp;83 | &nbsp;&nbsp;Mortgage Loan UW NCF DSCR at Term SOFR Cap | &nbsp;&nbsp;Recalculated Attribute |  |
| &nbsp;&nbsp;84 | &nbsp;&nbsp;Initial Tax Escrow | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;85 | &nbsp;&nbsp;Ongoing Tax Escrow Monthly | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;86 | &nbsp;&nbsp;Tax Escrow Springing Conditions | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;87 | &nbsp;&nbsp;Initial Insurance Escrow | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;88 | &nbsp;&nbsp;Ongoing Insurance Escrow Monthly | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;89 | &nbsp;&nbsp;Insurance Escrow Springing Conditions | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;90 | &nbsp;&nbsp;Initial Immediate Repairs Escrow | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;91 | &nbsp;&nbsp;Initial FF&E Escrow | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;92 | &nbsp;&nbsp;Ongoing FF&E Escrow Monthly | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;93 | &nbsp;&nbsp;FF&E Escrow Springing Conditions | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;94 | &nbsp;&nbsp;Initial Other Escrow | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;95 | &nbsp;&nbsp;Ongoing Other Escrow Monthly | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;96 | &nbsp;&nbsp;Ongoing Other Escrow Springing Condition | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;97 | &nbsp;&nbsp;Other Escrow Description | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;98 | &nbsp;&nbsp;Available Room Nights 2023 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;1.00 |
| &nbsp;&nbsp;99 | &nbsp;&nbsp;Available Room Nights 2024 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;1.00 |
| &nbsp;&nbsp;100 | &nbsp;&nbsp;Available Room Nights 2025 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;1.00 |
| &nbsp;&nbsp;101 | &nbsp;&nbsp;Available Room Nights April 2026 TTM | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;1.00 |
| &nbsp;&nbsp;102 | &nbsp;&nbsp;Available Room Nights FS 2023-4SZN (Palm Beach) | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;1.00 |
| &nbsp;&nbsp;103 | &nbsp;&nbsp;Available Room Nights UW | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;1.00 |

---

www.pwc.com *PricewaterhouseCoopers LLP <br> 300 Madison Avenue, New York, New York 10017<br> (646) 471-3000*

FS 2026-PALM <br> Loan File Procedures EXHIBIT A

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**#** | &nbsp;&nbsp;**Specified Attribute** | &nbsp;&nbsp;**Source Document** | &nbsp;&nbsp;**Tolerance Levels** |
| &nbsp;&nbsp;104 | &nbsp;&nbsp;Occupied Room Nights 2023 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;1.00 |
| &nbsp;&nbsp;105 | &nbsp;&nbsp;Occupied Room Nights 2024 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;1.00 |
| &nbsp;&nbsp;106 | &nbsp;&nbsp;Occupied Room Nights 2025 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;1.00 |
| &nbsp;&nbsp;107 | &nbsp;&nbsp;Occupied Room Nights April 2026 TTM | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;1.00 |
| &nbsp;&nbsp;108 | &nbsp;&nbsp;Occupied Room Nights FS 2023-4SZN (Palm Beach) | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;1.00 |
| &nbsp;&nbsp;109 | &nbsp;&nbsp;Occupied Room Nights UW | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;1.00 |
| &nbsp;&nbsp;110 | &nbsp;&nbsp;Occupancy 2023 | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;0.1% |
| &nbsp;&nbsp;111 | &nbsp;&nbsp;Occupancy 2024 | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;0.1% |
| &nbsp;&nbsp;112 | &nbsp;&nbsp;Occupancy 2025 | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;0.1% |
| &nbsp;&nbsp;113 | &nbsp;&nbsp;Occupancy April 2026 TTM | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;0.1% |
| &nbsp;&nbsp;114 | &nbsp;&nbsp;Occupancy FS 2023-4SZN (Palm Beach) | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;0.1% |
| &nbsp;&nbsp;115 | &nbsp;&nbsp;Occupancy UW | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;0.1% |
| &nbsp;&nbsp;116 | &nbsp;&nbsp;ADR 2023 | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;117 | &nbsp;&nbsp;ADR 2024 | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;118 | &nbsp;&nbsp;ADR 2025 | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;119 | &nbsp;&nbsp;ADR April 2026 TTM | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;120 | &nbsp;&nbsp;ADR FS 2023-4SZN (Palm Beach) | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;121 | &nbsp;&nbsp;ADR UW | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;122 | &nbsp;&nbsp;RevPAR 2023 | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;123 | &nbsp;&nbsp;RevPAR 2024 | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;124 | &nbsp;&nbsp;RevPAR 2025 | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;125 | &nbsp;&nbsp;RevPAR April 2026 TTM | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;126 | &nbsp;&nbsp;RevPAR FS 2023-4SZN (Palm Beach) | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;127 | &nbsp;&nbsp;RevPAR UW | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;128 | &nbsp;&nbsp;Occupancy Penetration 2023 | &nbsp;&nbsp;STR Report | &nbsp;&nbsp;0.1% |
| &nbsp;&nbsp;129 | &nbsp;&nbsp;Occupancy Penetration 2024 | &nbsp;&nbsp;STR Report | &nbsp;&nbsp;0.1% |
| &nbsp;&nbsp;130 | &nbsp;&nbsp;Occupancy Penetration 2025 | &nbsp;&nbsp;STR Report | &nbsp;&nbsp;0.1% |
| &nbsp;&nbsp;131 | &nbsp;&nbsp;Occupancy Penetration April 2026 TTM | &nbsp;&nbsp;April 2026 PMB STR | &nbsp;&nbsp;0.1% |
| &nbsp;&nbsp;132 | &nbsp;&nbsp;ADR Penetration 2023 | &nbsp;&nbsp;STR Report | &nbsp;&nbsp;0.1% |
| &nbsp;&nbsp;133 | &nbsp;&nbsp;ADR Penetration 2024 | &nbsp;&nbsp;STR Report | &nbsp;&nbsp;0.1% |
| &nbsp;&nbsp;134 | &nbsp;&nbsp;ADR Penetration 2025 | &nbsp;&nbsp;STR Report | &nbsp;&nbsp;0.1% |
| &nbsp;&nbsp;135 | &nbsp;&nbsp;ADR Penetration April 2026 TTM | &nbsp;&nbsp;April 2026 PMB STR | &nbsp;&nbsp;0.1% |
| &nbsp;&nbsp;136 | &nbsp;&nbsp;RevPAR Penetration 2023 | &nbsp;&nbsp;STR Report | &nbsp;&nbsp;0.1% |
| &nbsp;&nbsp;137 | &nbsp;&nbsp;RevPAR Penetration 2024 | &nbsp;&nbsp;STR Report | &nbsp;&nbsp;0.1% |
| &nbsp;&nbsp;138 | &nbsp;&nbsp;RevPAR Penetration 2025 | &nbsp;&nbsp;STR Report | &nbsp;&nbsp;0.1% |
| &nbsp;&nbsp;139 | &nbsp;&nbsp;RevPAR Penetration April 2026 TTM | &nbsp;&nbsp;April 2026 PMB STR | &nbsp;&nbsp;0.1% |

---

www.pwc.com *PricewaterhouseCoopers LLP <br> 300 Madison Avenue, New York, New York 10017<br> (646) 471-3000*

FS 2026-PALM <br> Loan File Procedures EXHIBIT A

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**#** | &nbsp;&nbsp;**Specified Attribute** | &nbsp;&nbsp;**Source Document** | &nbsp;&nbsp;**Tolerance Levels** |
| &nbsp;&nbsp;140 | &nbsp;&nbsp;Rooms Revenue 2023 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;141 | &nbsp;&nbsp;Rooms Revenue 2024 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;142 | &nbsp;&nbsp;Rooms Revenue 2025 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;143 | &nbsp;&nbsp;Rooms Revenue April 2026 TTM | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;144 | &nbsp;&nbsp;Rooms Revenue FS 2023-4SZN (Palm Beach) | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;145 | &nbsp;&nbsp;Rooms Revenue UW | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;146 | &nbsp;&nbsp;F&B Revenue 2023 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;147 | &nbsp;&nbsp;F&B Revenue 2024 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;148 | &nbsp;&nbsp;F&B Revenue 2025 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;149 | &nbsp;&nbsp;F&B Revenue April 2026 TTM | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;150 | &nbsp;&nbsp;F&B Revenue FS 2023-4SZN (Palm Beach) | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;151 | &nbsp;&nbsp;F&B Revenue UW | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;152 | &nbsp;&nbsp;Other Departmental Revenue 2023 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;153 | &nbsp;&nbsp;Other Departmental Revenue 2024 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;154 | &nbsp;&nbsp;Other Departmental Revenue 2025 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;155 | &nbsp;&nbsp;Other Departmental Revenue April 2026 TTM | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;156 | &nbsp;&nbsp;Other Departmental Revenue FS 2023-4SZN (Palm Beach) | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;157 | &nbsp;&nbsp;Other Departmental Revenue UW | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;158 | &nbsp;&nbsp;Miscellaneous Income 2023 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;159 | &nbsp;&nbsp;Miscellaneous Income 2024 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;160 | &nbsp;&nbsp;Miscellaneous Income 2025 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;161 | &nbsp;&nbsp;Miscellaneous Income April 2026 TTM | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;162 | &nbsp;&nbsp;Miscellaneous Income FS 2023-4SZN (Palm Beach) | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;163 | &nbsp;&nbsp;Miscellaneous Income UW | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;164 | &nbsp;&nbsp;Total Revenue 2023 | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;165 | &nbsp;&nbsp;Total Revenue 2024 | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;166 | &nbsp;&nbsp;Total Revenue 2025 | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;167 | &nbsp;&nbsp;Total Revenue April 2026 TTM | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;168 | &nbsp;&nbsp;Total Revenue FS 2023-4SZN (Palm Beach) | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;169 | &nbsp;&nbsp;Total Revenue UW | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;170 | &nbsp;&nbsp;Rooms Expense 2023 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;171 | &nbsp;&nbsp;Rooms Expense 2024 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;172 | &nbsp;&nbsp;Rooms Expense 2025 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |

---

www.pwc.com *PricewaterhouseCoopers LLP <br> 300 Madison Avenue, New York, New York 10017<br> (646) 471-3000*

FS 2026-PALM <br> Loan File Procedures EXHIBIT A

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**#** | &nbsp;&nbsp;**Specified Attribute** | &nbsp;&nbsp;**Source Document** | &nbsp;&nbsp;**Tolerance Levels** |
| &nbsp;&nbsp;173 | &nbsp;&nbsp;Rooms Expense April 2026 TTM | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;174 | &nbsp;&nbsp;Rooms Expense FS 2023-4SZN (Palm Beach) | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;175 | &nbsp;&nbsp;Rooms Expense UW | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;176 | &nbsp;&nbsp;F&B Expense 2023 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;177 | &nbsp;&nbsp;F&B Expense 2024 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;178 | &nbsp;&nbsp;F&B Expense 2025 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;179 | &nbsp;&nbsp;F&B Expense April 2026 TTM | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;180 | &nbsp;&nbsp;F&B Expense FS 2023-4SZN (Palm Beach) | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;181 | &nbsp;&nbsp;F&B Expense UW | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;182 | &nbsp;&nbsp;Other Operating Departments Expense 2023 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;183 | &nbsp;&nbsp;Other Operating Departments Expense 2024 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;184 | &nbsp;&nbsp;Other Operating Departments Expense 2025 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;185 | &nbsp;&nbsp;Other Operating Departments Expense April 2026 TTM | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;186 | &nbsp;&nbsp;Other Operating Departments Expense FS 2023-4SZN (Palm Beach) | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;187 | &nbsp;&nbsp;Other Operating Departments Expense UW | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;188 | &nbsp;&nbsp;Total Departmental Expenses 2023 | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;189 | &nbsp;&nbsp;Total Departmental Expenses 2024 | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;190 | &nbsp;&nbsp;Total Departmental Expenses 2025 | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;191 | &nbsp;&nbsp;Total Departmental Expenses April 2026 TTM | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;192 | &nbsp;&nbsp;Total Departmental Expenses FS 2023-4SZN (Palm Beach) | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;193 | &nbsp;&nbsp;Total Departmental Expenses UW | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;194 | &nbsp;&nbsp;Departmental Profit 2023 | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;195 | &nbsp;&nbsp;Departmental Profit 2024 | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;196 | &nbsp;&nbsp;Departmental Profit 2025 | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;197 | &nbsp;&nbsp;Departmental Profit April 2026 TTM | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;198 | &nbsp;&nbsp;Departmental Profit FS 2023-4SZN (Palm Beach) | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;199 | &nbsp;&nbsp;Departmental Profit UW | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;200 | &nbsp;&nbsp;General & Administrative 2023 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;201 | &nbsp;&nbsp;General & Administrative 2024 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;202 | &nbsp;&nbsp;General & Administrative 2025 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;203 | &nbsp;&nbsp;General & Administrative April 2026 TTM | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |

---

www.pwc.com *PricewaterhouseCoopers LLP <br> 300 Madison Avenue, New York, New York 10017<br> (646) 471-3000*

FS 2026-PALM <br> Loan File Procedures EXHIBIT A

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**#** | &nbsp;&nbsp;**Specified Attribute** | &nbsp;&nbsp;**Source Document** | &nbsp;&nbsp;**Tolerance Levels** |
| &nbsp;&nbsp;204 | &nbsp;&nbsp;General & Administrative FS 2023-4SZN (Palm Beach) | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;205 | &nbsp;&nbsp;General & Administrative UW | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;206 | &nbsp;&nbsp;Information & Telecom Systems 2023 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;207 | &nbsp;&nbsp;Information & Telecom Systems 2024 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;208 | &nbsp;&nbsp;Information & Telecom Systems 2025 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;209 | &nbsp;&nbsp;Information & Telecom Systems April 2026 TTM | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;210 | &nbsp;&nbsp;Information & Telecom Systems FS 2023-4SZN (Palm Beach) | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;211 | &nbsp;&nbsp;Information & Telecom Systems UW | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;212 | &nbsp;&nbsp;Sales & Marketing 2023 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;213 | &nbsp;&nbsp;Sales & Marketing 2024 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;214 | &nbsp;&nbsp;Sales & Marketing 2025 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;215 | &nbsp;&nbsp;Sales & Marketing April 2026 TTM | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;216 | &nbsp;&nbsp;Sales & Marketing FS 2023-4SZN (Palm Beach) | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;217 | &nbsp;&nbsp;Sales & Marketing UW | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;218 | &nbsp;&nbsp;Property Maintenance 2023 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;219 | &nbsp;&nbsp;Property Maintenance 2024 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;220 | &nbsp;&nbsp;Property Maintenance 2025 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;221 | &nbsp;&nbsp;Property Maintenance April 2026 TTM | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;222 | &nbsp;&nbsp;Property Maintenance FS 2023-4SZN (Palm Beach) | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;223 | &nbsp;&nbsp;Property Maintenance UW | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;224 | &nbsp;&nbsp;Utilities 2023 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;225 | &nbsp;&nbsp;Utilities 2024 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;226 | &nbsp;&nbsp;Utilities 2025 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;227 | &nbsp;&nbsp;Utilities April 2026 TTM | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;228 | &nbsp;&nbsp;Utilities FS 2023-4SZN (Palm Beach) | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;229 | &nbsp;&nbsp;Utilities UW | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;230 | &nbsp;&nbsp;Total Undistributed Expenses 2023 | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;231 | &nbsp;&nbsp;Total Undistributed Expenses 2024 | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;232 | &nbsp;&nbsp;Total Undistributed Expenses 2025 | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;233 | &nbsp;&nbsp;Total Undistributed Expenses April 2026 TTM | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;234 | &nbsp;&nbsp;Total Undistributed Expenses FS 2023-4SZN (Palm Beach) | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;235 | &nbsp;&nbsp;Total Undistributed Expenses UW | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;236 | &nbsp;&nbsp;Gross Operating Profit 2023 | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |

---

www.pwc.com *PricewaterhouseCoopers LLP <br> 300 Madison Avenue, New York, New York 10017<br> (646) 471-3000*

FS 2026-PALM <br> Loan File Procedures EXHIBIT A

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**#** | &nbsp;&nbsp;**Specified Attribute** | &nbsp;&nbsp;**Source Document** | &nbsp;&nbsp;**Tolerance Levels** |
| &nbsp;&nbsp;237 | &nbsp;&nbsp;Gross Operating Profit 2024 | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;238 | &nbsp;&nbsp;Gross Operating Profit 2025 | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;239 | &nbsp;&nbsp;Gross Operating Profit April 2026 TTM | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;240 | &nbsp;&nbsp;Gross Operating Profit FS 2023-4SZN (Palm Beach) | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;241 | &nbsp;&nbsp;Gross Operating Profit UW | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;242 | &nbsp;&nbsp;Base Management Fee 2023 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;243 | &nbsp;&nbsp;Base Management Fee 2024 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;244 | &nbsp;&nbsp;Base Management Fee 2025 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;245 | &nbsp;&nbsp;Base Management Fee April 2026 TTM | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;246 | &nbsp;&nbsp;Base Management Fee FS 2023-4SZN (Palm Beach) | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;247 | &nbsp;&nbsp;Base Management Fee UW | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;248 | &nbsp;&nbsp;Incentive Management Fee 2023 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;249 | &nbsp;&nbsp;Incentive Management Fee 2024 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;250 | &nbsp;&nbsp;Incentive Management Fee 2025 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;251 | &nbsp;&nbsp;Incentive Management Fee April 2026 TTM | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;252 | &nbsp;&nbsp;Incentive Management Fee FS 2023-4SZN (Palm Beach) | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;253 | &nbsp;&nbsp;Incentive Management Fee UW | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;254 | &nbsp;&nbsp;Income Before Fixed Charges 2023 | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;255 | &nbsp;&nbsp;Income Before Fixed Charges 2024 | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;256 | &nbsp;&nbsp;Income Before Fixed Charges 2025 | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;257 | &nbsp;&nbsp;Income Before Fixed Charges April 2026 TTM | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;258 | &nbsp;&nbsp;Income Before Fixed Charges FS 2023-4SZN (Palm Beach) | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;259 | &nbsp;&nbsp;Income Before Fixed Charges UW | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;260 | &nbsp;&nbsp;Real Estate Taxes 2023 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;261 | &nbsp;&nbsp;Real Estate Taxes 2024 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;262 | &nbsp;&nbsp;Real Estate Taxes 2025 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;263 | &nbsp;&nbsp;Real Estate Taxes April 2026 TTM | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;264 | &nbsp;&nbsp;Real Estate Taxes FS 2023-4SZN (Palm Beach) | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;265 | &nbsp;&nbsp;Real Estate Taxes UW | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;266 | &nbsp;&nbsp;Insurance 2023 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;267 | &nbsp;&nbsp;Insurance 2024 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;268 | &nbsp;&nbsp;Insurance 2025 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;269 | &nbsp;&nbsp;Insurance April 2026 TTM | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |

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FS 2026-PALM <br> Loan File Procedures EXHIBIT A

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| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**#** | &nbsp;&nbsp;**Specified Attribute** | &nbsp;&nbsp;**Source Document** | &nbsp;&nbsp;**Tolerance Levels** |
| &nbsp;&nbsp;270 | &nbsp;&nbsp;Insurance FS 2023-4SZN (Palm Beach) | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;271 | &nbsp;&nbsp;Insurance UW | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;272 | &nbsp;&nbsp;Rent Expense 2023 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;273 | &nbsp;&nbsp;Rent Expense 2024 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;274 | &nbsp;&nbsp;Rent Expense 2025 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;275 | &nbsp;&nbsp;Rent Expense April 2026 TTM | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;276 | &nbsp;&nbsp;Rent Expense FS 2023-4SZN (Palm Beach) | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;277 | &nbsp;&nbsp;Rent Expense UW | &nbsp;&nbsp;Company Provided Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;278 | &nbsp;&nbsp;Total Fixed and Other Expenses 2023 | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;279 | &nbsp;&nbsp;Total Fixed and Other Expenses 2024 | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;280 | &nbsp;&nbsp;Total Fixed and Other Expenses 2025 | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;281 | &nbsp;&nbsp;Total Fixed and Other Expenses April 2026 TTM | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;282 | &nbsp;&nbsp;Total Fixed and Other Expenses FS 2023-4SZN (Palm Beach) | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;283 | &nbsp;&nbsp;Total Fixed and Other Expenses UW | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;284 | &nbsp;&nbsp;Net Operating Income 2023 | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;285 | &nbsp;&nbsp;Net Operating Income 2024 | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;286 | &nbsp;&nbsp;Net Operating Income 2025 | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;287 | &nbsp;&nbsp;Net Operating Income April 2026 TTM | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;288 | &nbsp;&nbsp;Net Operating Income FS 2023-4SZN (Palm Beach) | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;289 | &nbsp;&nbsp;Net Operating Income UW | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;290 | &nbsp;&nbsp;FF&E 2023 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;291 | &nbsp;&nbsp;FF&E 2024 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;292 | &nbsp;&nbsp;FF&E 2025 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;293 | &nbsp;&nbsp;FF&E April 2026 TTM | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;294 | &nbsp;&nbsp;FF&E FS 2023-4SZN (Palm Beach) | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;295 | &nbsp;&nbsp;FF&E UW | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;296 | &nbsp;&nbsp;Net Cash Flow 2023 | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;297 | &nbsp;&nbsp;Net Cash Flow 2024 | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;298 | &nbsp;&nbsp;Net Cash Flow 2025 | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;299 | &nbsp;&nbsp;Net Cash Flow April 2026 TTM | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;300 | &nbsp;&nbsp;Net Cash Flow FS 2023-4SZN (Palm Beach) | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;301 | &nbsp;&nbsp;Net Cash Flow UW | &nbsp;&nbsp;Recalculated Attribute | &nbsp;&nbsp;$1.00 |

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FS 2026-PALM <br> Recalculation Methodology EXHIBIT B

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**#** | &nbsp;&nbsp;**Specified Attribute** | &nbsp;&nbsp;**Recalculation Methodology** |
| &nbsp;&nbsp;20 | &nbsp;&nbsp;Flag Term Remaining | &nbsp;&nbsp;Quotient of the count of the (i) number of days between the Cut-off Date and respective Flag Expiration Date and (ii) 365. |
| &nbsp;&nbsp;31 | &nbsp;&nbsp;Mortgage Loan Closing Date Balance per Key | &nbsp;&nbsp;Quotient of (i) Mortgage Loan Closing Date Balance and (ii) Total Units. |
| &nbsp;&nbsp;32 | &nbsp;&nbsp;% of Mortgage Loan Closing Date Balance | &nbsp;&nbsp;Quotient of (i) Mortgage Loan Closing Date Balance and (ii) the aggregate Mortgage Loan Closing Date Balance of the Collateral. |
| &nbsp;&nbsp;33 | &nbsp;&nbsp;Mortgage Loan Maturity Date Balance | &nbsp;&nbsp;Set equal to the Mortgage Loan Closing Date Balance. |
| &nbsp;&nbsp;36 | &nbsp;&nbsp;Individual As-Is Appraised Value per Key | &nbsp;&nbsp;Quotient of (i) Individual As-Is Appraised Value and (ii) Owned Units. |
| &nbsp;&nbsp;49 | &nbsp;&nbsp;Mortgage Loan Interest Rate at Term SOFR Cap | &nbsp;&nbsp;Sum of (i) Term SOFR Cap and (ii) Assumed Mortgage Loan Spread. |
| &nbsp;&nbsp;53 | &nbsp;&nbsp;Monthly Mortgage Loan Debt Service Payment | &nbsp;&nbsp;Quotient of (i) Annual Mortgage Loan Debt Service Payment and (ii) 12. |
| &nbsp;&nbsp;54 | &nbsp;&nbsp;Annual Mortgage Loan Debt Service Payment | &nbsp;&nbsp;Product of (i) Mortgage Loan Closing Date Balance, (ii) Mortgage Loan Debt Service Payment, and (iii) Interest Calculation (30/360 / Actual/360). |
| &nbsp;&nbsp;55 | &nbsp;&nbsp;Monthly Mortgage Loan Debt Service Payment at Term SOFR Cap | &nbsp;&nbsp;Quotient of (i) the product of (a) Mortgage Loan Closing Date Balance, (b) the sum of Assumed Mortgage Loan Spread and Term SOFR Cap, and (c) 365/360, and (ii) 12. |
| &nbsp;&nbsp;56 | &nbsp;&nbsp;Annual Mortgage Loan Debt Service Payment at Term SOFR Cap | &nbsp;&nbsp;Product of (i) Monthly Mortgage Loan Debt Service Payment at Term SOFR Cap and (ii) 12. |
| &nbsp;&nbsp;59 | &nbsp;&nbsp;Seasoning | &nbsp;&nbsp;Count of the number of monthly payment dates from, and inclusive of (i) First Loan Payment Date, to and inclusive of (ii) Cut-off Date. |
| &nbsp;&nbsp;60 | &nbsp;&nbsp;Original Term to Maturity (Months) | &nbsp;&nbsp;Count of the number of monthly payment dates from, and inclusive of (i) First Loan Payment Date through and including (ii) the Initial Maturity Date. |
| &nbsp;&nbsp;61 | &nbsp;&nbsp;Remaining Term to Maturity (Months) | &nbsp;&nbsp;Difference between (i) Original Term to Maturity (Months) and (ii) Seasoning. |
| &nbsp;&nbsp;64 | &nbsp;&nbsp;Original IO Term (Months) | &nbsp;&nbsp;Set equal to the Original Term to Maturity (Months). |
| &nbsp;&nbsp;65 | &nbsp;&nbsp;Remaining IO Term (Months) | &nbsp;&nbsp;Difference between (i) Original IO Term (Months) and (ii) Seasoning. |
| &nbsp;&nbsp;76 | &nbsp;&nbsp;Mortgage Loan Closing Date LTV (As-is Value) | &nbsp;&nbsp;Quotient of (i) Mortgage Loan Closing Date Balance and (ii) aggregate Individual As-Is Appraised Value. |
| &nbsp;&nbsp;77 | &nbsp;&nbsp;Mortgage Loan Balloon LTV (As-is Value) | &nbsp;&nbsp;Quotient of (i) Mortgage Loan Maturity Date Balance and (ii) aggregate Individual As-Is Appraised Value. |
| &nbsp;&nbsp;78 | &nbsp;&nbsp;Mortgage Loan UW NOI Debt Yield | &nbsp;&nbsp;Quotient of (i) Net Operating Income UW and (ii) Mortgage Loan Closing Date Balance. |

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FS 2026-PALM <br> Recalculation Methodology EXHIBIT B

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**#** | &nbsp;&nbsp;**Specified Attribute** | &nbsp;&nbsp;**Recalculation Methodology** |
| &nbsp;&nbsp;79 | &nbsp;&nbsp;Mortgage Loan UW NCF Debt Yield | &nbsp;&nbsp;Quotient of (i) Net Cash Flow UW and (ii) Mortgage Loan Closing Date Balance. |
| &nbsp;&nbsp;80 | &nbsp;&nbsp;Mortgage Loan UW NOI DSCR | &nbsp;&nbsp;Quotient of (i) Net Operating Income UW and (ii) Annual Mortgage Loan Debt Service Payment. |
| &nbsp;&nbsp;81 | &nbsp;&nbsp;Mortgage Loan UW NCF DSCR | &nbsp;&nbsp;Quotient of (i) Net Cash Flow UW and (ii) Annual Mortgage Loan Debt Service Payment. |
| &nbsp;&nbsp;82 | &nbsp;&nbsp;Mortgage Loan UW NOI DSCR at Term SOFR Cap | &nbsp;&nbsp;Quotient of (i) Net Operating Income UW and (ii) Annual Mortgage Loan Debt Service Payment at Term SOFR Cap. |
| &nbsp;&nbsp;83 | &nbsp;&nbsp;Mortgage Loan UW NCF DSCR at Term SOFR Cap | &nbsp;&nbsp;Quotient of (i) Net Cash Flow UW and (ii) Annual Mortgage Loan Debt Service Payment at Term SOFR Cap. |
| &nbsp;&nbsp;110 | &nbsp;&nbsp;Occupancy 2023 | &nbsp;&nbsp;Quotient of (i) Occupied Room Nights 2023 and (ii) Available Room Nights 2023. |
| &nbsp;&nbsp;111 | &nbsp;&nbsp;Occupancy 2024 | &nbsp;&nbsp;Quotient of (i) Occupied Room Nights 2024 and (ii) Available Room Nights 2024. |
| &nbsp;&nbsp;112 | &nbsp;&nbsp;Occupancy 2025 | &nbsp;&nbsp;Quotient of (i) Occupied Room Nights 2025 and (ii) Available Room Nights 2025. |
| &nbsp;&nbsp;113 | &nbsp;&nbsp;Occupancy April 2026 TTM | &nbsp;&nbsp;Quotient of (i) Occupied Room Nights April 2026 TTM and (ii) Available Room Nights April 2026 TTM. |
| &nbsp;&nbsp;114 | &nbsp;&nbsp;Occupancy FS 2023-4SZN (Palm Beach) | &nbsp;&nbsp;Quotient of (i) Occupied Room Nights FS 2023-4SZN (Palm Beach) and (ii) Available Room Nights FS 2023-4SZN (Palm Beach). |
| &nbsp;&nbsp;115 | &nbsp;&nbsp;Occupancy UW | &nbsp;&nbsp;Quotient of (i) Occupied Room Nights UW and (ii) Available Room Nights UW. |
| &nbsp;&nbsp;116 | &nbsp;&nbsp;ADR 2023 | &nbsp;&nbsp;Quotient of (i) Rooms Revenue 2023 and (ii) Occupied Room Nights 2023 |
| &nbsp;&nbsp;117 | &nbsp;&nbsp;ADR 2024 | &nbsp;&nbsp;Quotient of (i) Rooms Revenue 2024 and (ii) Occupied Room Nights 2024. |
| &nbsp;&nbsp;118 | &nbsp;&nbsp;ADR 2025 | &nbsp;&nbsp;Quotient of (i) Rooms Revenue 2025 and (ii) Occupied Room Nights 2025. |
| &nbsp;&nbsp;119 | &nbsp;&nbsp;ADR April 2026 TTM | &nbsp;&nbsp;Quotient of (i) Rooms Revenue April 2026 TTM and (ii) Occupied Room Nights April 2026 TTM. |
| &nbsp;&nbsp;120 | &nbsp;&nbsp;ADR FS 2023-4SZN (Palm Beach) | &nbsp;&nbsp;Quotient of (i) Rooms Revenue FS 2023-4SZN (Palm Beach) and (ii) Occupied Room Nights FS 2023-4SZN (Palm Beach). |
| &nbsp;&nbsp;121 | &nbsp;&nbsp;ADR UW | &nbsp;&nbsp;Quotient of (i) Rooms Revenue UW and (ii) Occupied Room Nights UW. |
| &nbsp;&nbsp;122 | &nbsp;&nbsp;RevPAR 2023 | &nbsp;&nbsp;Quotient of (i) Rooms Revenue 2023 and (ii) Available Room Nights 2023. |
| &nbsp;&nbsp;123 | &nbsp;&nbsp;RevPAR 2024 | &nbsp;&nbsp;Quotient of (i) Rooms Revenue 2024 and (ii) Available Room Nights 2024. |
| &nbsp;&nbsp;124 | &nbsp;&nbsp;RevPAR 2025 | &nbsp;&nbsp;Quotient of (i) Rooms Revenue 2025 and (ii) Available Room Nights 2025. |
| &nbsp;&nbsp;125 | &nbsp;&nbsp;RevPAR April 2026 TTM | &nbsp;&nbsp;Quotient of (i) Rooms Revenue April 2026 TTM and (ii) Available Room Nights April 2026 TTM. |
| &nbsp;&nbsp;126 | &nbsp;&nbsp;RevPAR FS 2023-4SZN (Palm Beach) | &nbsp;&nbsp;Quotient of (i) Rooms Revenue FS 2023-4SZN (Palm Beach) and (ii) Available Room Nights FS 2023-4SZN (Palm Beach). |
| &nbsp;&nbsp;127 | &nbsp;&nbsp;RevPAR UW | &nbsp;&nbsp;Quotient of (i) Rooms Revenue UW and (ii) Available Room Nights UW. |
| &nbsp;&nbsp;164 | &nbsp;&nbsp;Total Revenue 2023 | &nbsp;&nbsp;Sum of (i) Rooms Revenue 2023, (ii) F&B Revenue 2023, (iii) Other Departmental Revenue 2023, and (iv) Miscellaneous Income 2023. |
| &nbsp;&nbsp;165 | &nbsp;&nbsp;Total Revenue 2024 | &nbsp;&nbsp;Sum of (i) Rooms Revenue 2024, (ii) F&B Revenue 2024, (iii) Other Departmental Revenue 2024, and (iv) Miscellaneous Income 2024. |
| &nbsp;&nbsp;166 | &nbsp;&nbsp;Total Revenue 2025 | &nbsp;&nbsp;Sum of (i) Rooms Revenue 2025, (ii) F&B Revenue 2025, (iii) Other Departmental Revenue 2025, and (iv) Miscellaneous Income 2025. |
| &nbsp;&nbsp;167 | &nbsp;&nbsp;Total Revenue April 2026 TTM | &nbsp;&nbsp;Sum of (i) Rooms Revenue April 2026 TTM, (ii) F&B Revenue April 2026 TTM, (iii) Other Departmental Revenue April 2026 TTM, and (iv) Miscellaneous Income April 2026 TTM. |

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FS 2026-PALM <br> Recalculation Methodology EXHIBIT B

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**#** | &nbsp;&nbsp;**Specified Attribute** | &nbsp;&nbsp;**Recalculation Methodology** |
| &nbsp;&nbsp;168 | &nbsp;&nbsp;Total Revenue FS 2023-4SZN (Palm Beach) | &nbsp;&nbsp;Sum of (i) Rooms Revenue FS 2023-4SZN (Palm Beach), (ii) F&B Revenue FS 2023-4SZN (Palm Beach), (iii) Other Departmental Revenue FS 2023-4SZN (Palm Beach), and (iv) Miscellaneous Income FS 2023-4SZN (Palm Beach). |
| &nbsp;&nbsp;169 | &nbsp;&nbsp;Total Revenue UW | &nbsp;&nbsp;Sum of (i) Rooms Revenue UW, (ii) F&B Revenue UW, (iii) Other Departmental Revenue UW, and (iv) Miscellaneous Income UW. |
| &nbsp;&nbsp;188 | &nbsp;&nbsp;Total Departmental Expenses 2023 | &nbsp;&nbsp;Sum of (i) Rooms Expense 2023, (ii) F&B Expense 2023, and (iii) Other Operating Departments Expense 2023. |
| &nbsp;&nbsp;189 | &nbsp;&nbsp;Total Departmental Expenses 2024 | &nbsp;&nbsp;Sum of (i) Rooms Expense 2024, (ii) F&B Expense 2024, and (iii) Other Operating Departments Expense 2024. |
| &nbsp;&nbsp;190 | &nbsp;&nbsp;Total Departmental Expenses 2025 | &nbsp;&nbsp;Sum of (i) Rooms Expense 2025, (ii) F&B Expense 2025, and (iii) Other Operating Departments Expense 2025. |
| &nbsp;&nbsp;191 | &nbsp;&nbsp;Total Departmental Expenses April 2026 TTM | &nbsp;&nbsp;Sum of (i) Rooms Expense April 2026 TTM, (ii) F&B Expense April 2026 TTM, and (iii) Other Operating Departments Expense April 2026 TTM. |
| &nbsp;&nbsp;192 | &nbsp;&nbsp;Total Departmental Expenses FS 2023-4SZN (Palm Beach) | &nbsp;&nbsp;Sum of (i) Rooms Expense FS 2023-4SZN (Palm Beach), (ii) F&B Expense FS 2023-4SZN (Palm Beach), and (iii) Other Operating Departments Expense FS 2023-4SZN (Palm Beach). |
| &nbsp;&nbsp;193 | &nbsp;&nbsp;Total Departmental Expenses UW | &nbsp;&nbsp;Sum of (i) Rooms Expense UW, (ii) F&B Expense UW, and (iii) Other Operating Departments Expense UW. |
| &nbsp;&nbsp;194 | &nbsp;&nbsp;Departmental Profit 2023 | &nbsp;&nbsp;Difference between (i) Total Revenue 2023 and (ii) Total Departmental Expenses 2023. |
| &nbsp;&nbsp;195 | &nbsp;&nbsp;Departmental Profit 2024 | &nbsp;&nbsp;Difference between (i) Total Revenue 2024 and (ii) Total Departmental Expenses 2024. |
| &nbsp;&nbsp;196 | &nbsp;&nbsp;Departmental Profit 2025 | &nbsp;&nbsp;Difference between (i) Total Revenue 2025 and (ii) Total Departmental Expenses 2025. |
| &nbsp;&nbsp;197 | &nbsp;&nbsp;Departmental Profit April 2026 TTM | &nbsp;&nbsp;Difference between (i) Total Revenue April 2026 TTM and (ii) Total Departmental Expenses April 2026 TTM. |
| &nbsp;&nbsp;198 | &nbsp;&nbsp;Departmental Profit FS 2023-4SZN (Palm Beach) | &nbsp;&nbsp;Difference between (i) Total Revenue FS 2023-4SZN (Palm Beach) and (ii) Total Departmental Expenses FS 2023-4SZN (Palm Beach). |
| &nbsp;&nbsp;199 | &nbsp;&nbsp;Departmental Profit UW | &nbsp;&nbsp;Difference between (i) Total Revenue UW and (ii) Total Departmental Expenses UW. |
| &nbsp;&nbsp;230 | &nbsp;&nbsp;Total Undistributed Expenses 2023 | &nbsp;&nbsp;Sum of (i) General & Administrative 2023, (ii) Information & Telecom Systems 2023, (iii) Sales & Marketing 2023, (iv) Property Maintenance 2023, and (v) Utilities 2023. |
| &nbsp;&nbsp;231 | &nbsp;&nbsp;Total Undistributed Expenses 2024 | &nbsp;&nbsp;Sum of (i) General & Administrative 2024, (ii) Information & Telecom Systems 2024, (iii) Sales & Marketing 2024, (iv) Property Maintenance 2024, and (v) Utilities 2024. |
| &nbsp;&nbsp;232 | &nbsp;&nbsp;Total Undistributed Expenses 2025 | &nbsp;&nbsp;Sum of (i) General & Administrative 2025, (ii) Information & Telecom Systems 2025, (iii) Sales & Marketing 2025, (iv) Property Maintenance 2025, and (v) Utilities 2025. |
| &nbsp;&nbsp;233 | &nbsp;&nbsp;Total Undistributed Expenses April 2026 TTM | &nbsp;&nbsp;Sum of (i) General & Administrative April 2026 TTM, (ii) Information & Telecom Systems April 2026 TTM, (iii) Sales & Marketing April 2026 TTM, (iv) Property Maintenance April 2026 TTM, and (v) Utilities April 2026 TTM. |
| &nbsp;&nbsp;234 | &nbsp;&nbsp;Total Undistributed Expenses FS 2023-4SZN (Palm Beach) | &nbsp;&nbsp;Sum of (i) General & Administrative FS 2023-4SZN (Palm Beach), (ii) Information & Telecom Systems FS 2023-4SZN (Palm Beach), (iii) Sales & Marketing FS 2023-4SZN (Palm Beach), (iv) Property Maintenance FS 2023-4SZN (Palm Beach), and (v) Utilities FS 2023-4SZN (Palm Beach). |

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FS 2026-PALM <br> Recalculation Methodology EXHIBIT B

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**#** | &nbsp;&nbsp;**Specified Attribute** | &nbsp;&nbsp;**Recalculation Methodology** |
| &nbsp;&nbsp;235 | &nbsp;&nbsp;Total Undistributed Expenses UW | &nbsp;&nbsp;Sum of (i) General & Administrative UW, (ii) Information & Telecom Systems UW, (iii) Sales & Marketing UW, (iv) Property Maintenance UW, and (v) Utilities UW. |
| &nbsp;&nbsp;236 | &nbsp;&nbsp;Gross Operating Profit 2023 | &nbsp;&nbsp;Difference between (i) Departmental Profit 2023 and (ii) Total Undistributed Expenses 2023. |
| &nbsp;&nbsp;237 | &nbsp;&nbsp;Gross Operating Profit 2024 | &nbsp;&nbsp;Difference between (i) Departmental Profit 2024 and (ii) Total Undistributed Expenses 2024. |
| &nbsp;&nbsp;238 | &nbsp;&nbsp;Gross Operating Profit 2025 | &nbsp;&nbsp;Difference between (i) Departmental Profit 2025 and (ii) Total Undistributed Expenses 2025. |
| &nbsp;&nbsp;239 | &nbsp;&nbsp;Gross Operating Profit April 2026 TTM | &nbsp;&nbsp;Difference between (i) Departmental Profit April 2026 TTM and (ii) Total Undistributed Expenses April 2026 TTM. |
| &nbsp;&nbsp;240 | &nbsp;&nbsp;Gross Operating Profit FS 2023-4SZN (Palm Beach) | &nbsp;&nbsp;Difference between (i) Departmental Profit FS 2023-4SZN (Palm Beach) and (ii) Total Undistributed Expenses FS 2023-4SZN (Palm Beach). |
| &nbsp;&nbsp;241 | &nbsp;&nbsp;Gross Operating Profit UW | &nbsp;&nbsp;Difference between (i) Departmental Profit UW and (ii) Total Undistributed Expenses UW. |
| &nbsp;&nbsp;254 | &nbsp;&nbsp;Income Before Fixed Charges 2023 | &nbsp;&nbsp;Difference between (i) Gross Operating Profit 2023, (ii) Base Management Fee 2023, and (iii) Incentive Management Fee 2023. |
| &nbsp;&nbsp;255 | &nbsp;&nbsp;Income Before Fixed Charges 2024 | &nbsp;&nbsp;Difference between (i) Gross Operating Profit 2024, (ii) Base Management Fee 2024, and (iii) Incentive Management Fee 2024. |
| &nbsp;&nbsp;256 | &nbsp;&nbsp;Income Before Fixed Charges 2025 | &nbsp;&nbsp;Difference between (i) Gross Operating Profit 2025, (ii) Base Management Fee 2025, and (iii) Incentive Management Fee 2025. |
| &nbsp;&nbsp;257 | &nbsp;&nbsp;Income Before Fixed Charges April 2026 TTM | &nbsp;&nbsp;Difference between (i) Gross Operating Profit April 2026 TTM, (ii) Base Management Fee April 2026 TTM, and (iii) Incentive Management Fee April 2026 TTM. |
| &nbsp;&nbsp;258 | &nbsp;&nbsp;Income Before Fixed Charges FS 2023-4SZN (Palm Beach) | &nbsp;&nbsp;Difference between (i) Gross Operating Profit FS 2023-4SZN (Palm Beach), (ii) Base Management Fee FS 2023-4SZN (Palm Beach), and (iii) Incentive Management Fee FS 2023-4SZN (Palm Beach). |
| &nbsp;&nbsp;259 | &nbsp;&nbsp;Income Before Fixed Charges UW | &nbsp;&nbsp;Difference between (i) Gross Operating Profit UW, (ii) Base Management Fee UW, and (iii) Incentive Management Fee UW. |
| &nbsp;&nbsp;278 | &nbsp;&nbsp;Total Fixed and Other Expenses 2023 | &nbsp;&nbsp;Sum of (i) Real Estate Taxes 2023, (ii) Insurance 2023, and (iii) Rent Expense 2023. |
| &nbsp;&nbsp;279 | &nbsp;&nbsp;Total Fixed and Other Expenses 2024 | &nbsp;&nbsp;Sum of (i) Real Estate Taxes 2024, (ii) Insurance 2024, and (iii) Rent Expense 2024. |
| &nbsp;&nbsp;280 | &nbsp;&nbsp;Total Fixed and Other Expenses 2025 | &nbsp;&nbsp;Sum of (i) Real Estate Taxes 2025, (ii) Insurance 2025, and (iii) Rent Expense 2025. |
| &nbsp;&nbsp;281 | &nbsp;&nbsp;Total Fixed and Other Expenses April 2026 TTM | &nbsp;&nbsp;Sum of (i) Real Estate Taxes April 2026 TTM, (ii) Insurance April 2026 TTM, and (iii) Rent Expense April 2026 TTM. |
| &nbsp;&nbsp;282 | &nbsp;&nbsp;Total Fixed and Other Expenses FS 2023-4SZN (Palm Beach) | &nbsp;&nbsp;Sum of (i) Real Estate Taxes FS 2023-4SZN (Palm Beach), (ii) Insurance FS 2023-4SZN (Palm Beach), and (iii) Rent Expense FS 2023-4SZN (Palm Beach). |
| &nbsp;&nbsp;283 | &nbsp;&nbsp;Total Fixed and Other Expenses UW | &nbsp;&nbsp;Sum of (i) Real Estate Taxes UW, (ii) Insurance UW, and (iii) Rent Expense UW. |
| &nbsp;&nbsp;284 | &nbsp;&nbsp;Net Operating Income 2023 | &nbsp;&nbsp;Difference between (i) Income Before Fixed Charges 2023 and (ii) Total Fixed and Other Expenses 2023. |

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FS 2026-PALM <br> Recalculation Methodology EXHIBIT B

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**#** | &nbsp;&nbsp;**Specified Attribute** | &nbsp;&nbsp;**Recalculation Methodology** |
| &nbsp;&nbsp;285 | &nbsp;&nbsp;Net Operating Income 2024 | &nbsp;&nbsp;Difference between (i) Income Before Fixed Charges 2024 and (ii) Total Fixed and Other Expenses 2024. |
| &nbsp;&nbsp;286 | &nbsp;&nbsp;Net Operating Income 2025 | &nbsp;&nbsp;Difference between (i) Income Before Fixed Charges 2025 and (ii) Total Fixed and Other Expenses 2025. |
| &nbsp;&nbsp;287 | &nbsp;&nbsp;Net Operating Income April 2026 TTM | &nbsp;&nbsp;Difference between (i) Income Before Fixed Charges April 2026 TTM and (ii) Total Fixed and Other Expenses April 2026 TTM. |
| &nbsp;&nbsp;288 | &nbsp;&nbsp;Net Operating Income FS 2023-4SZN (Palm Beach) | &nbsp;&nbsp;Difference between (i) Income Before Fixed Charges FS 2023-4SZN (Palm Beach) and (ii) Total Fixed and Other Expenses FS 2023-4SZN (Palm Beach). |
| &nbsp;&nbsp;289 | &nbsp;&nbsp;Net Operating Income UW | &nbsp;&nbsp;Difference between (i) Income Before Fixed Charges UW and (ii) Total Fixed and Other Expenses UW. |
| &nbsp;&nbsp;296 | &nbsp;&nbsp;Net Cash Flow 2023 | &nbsp;&nbsp;Difference between (i) Net Operating Income 2023 and (ii) FF&E 2023. |
| &nbsp;&nbsp;297 | &nbsp;&nbsp;Net Cash Flow 2024 | &nbsp;&nbsp;Difference between (i) Net Operating Income 2024 and (ii) FF&E 2024. |
| &nbsp;&nbsp;298 | &nbsp;&nbsp;Net Cash Flow 2025 | &nbsp;&nbsp;Difference between (i) Net Operating Income 2025 and (ii) FF&E 2025. |
| &nbsp;&nbsp;299 | &nbsp;&nbsp;Net Cash Flow April 2026 TTM | &nbsp;&nbsp;Difference between (i) Net Operating Income April 2026 TTM and (ii) FF&E April 2026 TTM. |
| &nbsp;&nbsp;300 | &nbsp;&nbsp;Net Cash Flow FS 2023-4SZN (Palm Beach) | &nbsp;&nbsp;Difference between (i) Net Operating Income FS 2023-4SZN (Palm Beach) and (ii) FF&E FS 2023-4SZN (Palm Beach). |
| &nbsp;&nbsp;301 | &nbsp;&nbsp;Net Cash Flow UW | &nbsp;&nbsp;Difference between (i) Net Operating Income UW and (ii) FF&E UW. |

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