# EDGAR Filing Document

**Accession Number:** 0001258361
**File Stem:** 0001539497-25-002072
**Filing Date:** 2025-8
**Character Count:** 55987
**Document Hash:** bdc36dbc3d254bd10dced700b7c4bb9c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001539497-25-002072.hdr.sgml**: 20250811

**ACCESSION NUMBER**: 0001539497-25-002072

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

**PUBLIC DOCUMENT COUNT**: 3

**CONFORMED PERIOD OF REPORT**: 20250811

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

**FILED AS OF DATE**: 20250811

**DATE AS OF CHANGE**: 20250811

**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:** 251202457

**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

**MHP Commercial Mortgage Trust 2025-MHIL2**<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 August 11, 2025, 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 August 11, 2025.

**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: August 11, 2025

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 August 11, 2025.

## 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., Goldman Sachs & Co. LLC, Goldman Sachs Mortgage Company, and Goldman Sachs Bank USA who are collectively referred to as the "Specified Parties", solely to assist you in performing certain procedures related to the accuracy of certain attributes and calculations within the Final Data File (defined below). The procedures were performed with respect to the MHP Commercial Mortgage Trust 2025-MHIL2, Commercial Mortgage Pass-Through Certificates, Series 2025-MHIL2 securitization (the "Transaction"). The Company (the "Responsible Party") is responsible for the accuracy of the information contained in the Final Data File.

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

 **

***Procedures and Findings***

 **

In connection with the Transaction, the Specified Parties have requested that the procedures be performed on 1 mortgage loan (the "Mortgage Loan Asset") secured by 78 mortgaged properties (the "Mortgaged Properties") which represents the entire population of the Mortgage Loan Asset and Mortgaged Properties (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:

● 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;

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

● The value of the Mortgaged Properties securing the Mortgage Loan Asset; and

● 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

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

![](pwclogo.jpg)

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:

● The interpretation of Transaction documents included in connection with our procedures;

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

● 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:

● The phrase "Closing Date" refers to the date of August 28, 2025.

● 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 August 11, 2025 with certain Collateral attribute calculations adjusted for the Closing Date:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o 2025-MHIL2 - Accounting Tape_Final.xlsx (provided on August 11, 2025).

● The phrase "Specified Attributes" refers to the fields in the Final Data File.

● 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.

● 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.

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

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

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

Source Documents included in the Loan File:

● The phrase "Appraisal Report" refers to a signed or draft appraisal document or exhibit.

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

![](pwclogo.jpg)

● The phrase "Cash Management Agreement" refers to a signed or draft cash management agreement.

● The phrase "Engineering Report" refers to a draft or signed property condition assessment document or exhibit.

● The phrase "Environmental Report" refers to a draft or signed phase I and phase II (if applicable) environmental document or exhibit.

● The phrase "Fee Schedule" refers to documentation provided by the Company for the administrative fee rate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The phrase "Interest Rate Cap Term Sheet" refers to an interest
rate cap document which discloses the applicable strike rate of the interest rate cap.

● The phrase "Loan Agreement" refers to a draft loan agreement and any exhibits or schedules thereof.

● The phrase "Seismic Report" refers to a draft or final seismic assessment document or exhibit.

● The phrase "Title Policy" refers to a draft or signed proforma title policy or commitment.

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

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

From July 21, 2025 through August 11, 2025, the Company provided us with the Source Documents related to the Collateral for which 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");

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

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

The recalculation methodology associated with the Recalculated Attributes is listed in Exhibit B. For each procedure where a recalculation was performed, if necessary, we compared the underlying attributes to the corresponding Source Documents and found them to be in agreement. We did not perform any procedures with respect to the Specified Attributes denoted with a Source Document of "None - Company Provided", in Exhibit A.

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

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

![](pwclogo.jpg)

an opinion, or a review engagement, the objective of which would be the expression of a conclusion, on the Final Data File. Accordingly, we do not express such an opinion or conclusion. Had we performed additional procedures, other matters might have come to our attention that would have been reported to you.

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

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

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

● 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

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

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

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

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

/s/ PricewaterhouseCoopers LLP

New York, NY

August 11, 2025

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

**Exhibits**

Exhibit A – Loan File Review Procedures

Exhibit B – Recalculation Methodology

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**MHP 2025-MHIL2** | &nbsp;&nbsp;**EXHIBIT A** |
| &nbsp;&nbsp;**Loan File Review Procedures** |  |

---

**Exhibit A – Loan File Review Procedures** 

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**#** | &nbsp;&nbsp;**Specified Attribute** | &nbsp;&nbsp;**Source Document (by order of priority)** | &nbsp;&nbsp;**Tolerance Levels** |
| &nbsp;&nbsp;1 | &nbsp;&nbsp;Property Rank | &nbsp;&nbsp;None - Company Provided |  |
| &nbsp;&nbsp;2 | &nbsp;&nbsp;Property ID | &nbsp;&nbsp;None - Company Provided |  |
| &nbsp;&nbsp;3 | &nbsp;&nbsp;Property Name | &nbsp;&nbsp;None - Company Provided |  |
| &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;State | &nbsp;&nbsp;Appraisal Report |  |
| &nbsp;&nbsp;9 | &nbsp;&nbsp;Zip | &nbsp;&nbsp;Appraisal Report |  |
| &nbsp;&nbsp;10 | &nbsp;&nbsp;County | &nbsp;&nbsp;Appraisal Report |  |
| &nbsp;&nbsp;11 | &nbsp;&nbsp;MSA | &nbsp;&nbsp;Underwriting File |  |
| &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;Date Acquired | &nbsp;&nbsp;Underwriting File |  |
| &nbsp;&nbsp;15 | &nbsp;&nbsp;Property Manager | &nbsp;&nbsp;Underwriting File |  |
| &nbsp;&nbsp;16 | &nbsp;&nbsp;Unit Mix (Available Units) Regular | &nbsp;&nbsp;Underwriting File |  |
| &nbsp;&nbsp;17 | &nbsp;&nbsp;Unit Mix (Available Units) Climate Controlled | &nbsp;&nbsp;Underwriting File |  |
| &nbsp;&nbsp;18 | &nbsp;&nbsp;Unit Mix (Available Units) Commercial | &nbsp;&nbsp;Underwriting File |  |
| &nbsp;&nbsp;19 | &nbsp;&nbsp;Unit Mix (Available Units) Other | &nbsp;&nbsp;Underwriting File |  |
| &nbsp;&nbsp;20 | &nbsp;&nbsp;Unit Mix (Available Units) Total | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;21 | &nbsp;&nbsp;Unit Mix (Available SF) Regular | &nbsp;&nbsp;Underwriting File |  |
| &nbsp;&nbsp;22 | &nbsp;&nbsp;Unit Mix (Available SF) Climate Controlled | &nbsp;&nbsp;Underwriting File |  |

---

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**MHP 2025-MHIL2** | &nbsp;&nbsp;**EXHIBIT A** |
| &nbsp;&nbsp;**Loan File Review Procedures** |  |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**#** | &nbsp;&nbsp;**Specified Attribute** | &nbsp;&nbsp;**Source Document (by order of priority)** | &nbsp;&nbsp;**Tolerance Levels** |
| &nbsp;&nbsp;23 | &nbsp;&nbsp;Unit Mix (Available SF) Commercial | &nbsp;&nbsp;Underwriting File |  |
| &nbsp;&nbsp;24 | &nbsp;&nbsp;Unit Mix (Available SF) Other | &nbsp;&nbsp;Underwriting File |  |
| &nbsp;&nbsp;25 | &nbsp;&nbsp;Unit Mix (Available SF) Total | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;26 | &nbsp;&nbsp;Unit Mix (Occupied Units) Regular | &nbsp;&nbsp;Underwriting File |  |
| &nbsp;&nbsp;27 | &nbsp;&nbsp;Unit Mix (Occupied Units) Climate Controlled | &nbsp;&nbsp;Underwriting File |  |
| &nbsp;&nbsp;28 | &nbsp;&nbsp;Unit Mix (Occupied Units) Commercial | &nbsp;&nbsp;Underwriting File |  |
| &nbsp;&nbsp;29 | &nbsp;&nbsp;Unit Mix (Occupied Units) Other | &nbsp;&nbsp;Underwriting File |  |
| &nbsp;&nbsp;30 | &nbsp;&nbsp;Unit Mix (Occupied Units) Total | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;31 | &nbsp;&nbsp;Unit Mix (Occupied SF) Regular | &nbsp;&nbsp;Underwriting File |  |
| &nbsp;&nbsp;32 | &nbsp;&nbsp;Unit Mix (Occupied SF) Climate Controlled | &nbsp;&nbsp;Underwriting File |  |
| &nbsp;&nbsp;33 | &nbsp;&nbsp;Unit Mix (Occupied SF) Commercial | &nbsp;&nbsp;Underwriting File |  |
| &nbsp;&nbsp;34 | &nbsp;&nbsp;Unit Mix (Occupied SF) Other | &nbsp;&nbsp;Underwriting File |  |
| &nbsp;&nbsp;35 | &nbsp;&nbsp;Unit Mix (Occupied SF) Total | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;36 | &nbsp;&nbsp;Storage Occupancy UW Occupancy (based on Units) | &nbsp;&nbsp;Recalculation | &nbsp;&nbsp;0.10% |
| &nbsp;&nbsp;37 | &nbsp;&nbsp;Storage Occupancy UW Occupancy (based on SF) | &nbsp;&nbsp;Recalculation | &nbsp;&nbsp;0.10% |
| &nbsp;&nbsp;38 | &nbsp;&nbsp;Total Occupancy UW Occupancy (based on Units) | &nbsp;&nbsp;Recalculation | &nbsp;&nbsp;0.10% |
| &nbsp;&nbsp;39 | &nbsp;&nbsp;Total Occupancy UW Occupancy (based on SF) | &nbsp;&nbsp;Recalculation | &nbsp;&nbsp;0.10% |
| &nbsp;&nbsp;40 | &nbsp;&nbsp;Occupancy Date | &nbsp;&nbsp;Underwriting File |  |
| &nbsp;&nbsp;41 | &nbsp;&nbsp;2023 Average Occupancy | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;0.10% |

---

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**MHP 2025-MHIL2** | &nbsp;&nbsp;**EXHIBIT A** |
| &nbsp;&nbsp;**Loan File Review Procedures** |  |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**#** | &nbsp;&nbsp;**Specified Attribute** | &nbsp;&nbsp;**Source Document (by order of priority)** | &nbsp;&nbsp;**Tolerance Levels** |
| &nbsp;&nbsp;42 | &nbsp;&nbsp;2024 Average Occupancy | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;0.10% |
| &nbsp;&nbsp;43 | &nbsp;&nbsp;June 2025 TTM Average Occupancy | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;0.10% |
| &nbsp;&nbsp;44 | &nbsp;&nbsp;June 2025 T6 Average Occupancy | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;0.10% |
| &nbsp;&nbsp;45 | &nbsp;&nbsp;June 2025 T3 Average Occupancy | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;0.10% |
| &nbsp;&nbsp;46 | &nbsp;&nbsp;Ownership Interest | &nbsp;&nbsp;Title Policy |  |
| &nbsp;&nbsp;47 | &nbsp;&nbsp;Mortgage Loan Original Balance | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;48 | &nbsp;&nbsp;Mortgage Loan Closing Date Balance | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;49 | &nbsp;&nbsp;Mortgage Loan Closing Date Balance per Unit | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;50 | &nbsp;&nbsp;Mortgage Loan Closing Date Balance per SF | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;51 | &nbsp;&nbsp;% of Mortgage Loan Closing Date Balance | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;52 | &nbsp;&nbsp;Mortgage Loan Balloon Balance | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;53 | &nbsp;&nbsp;Individual As-Is Appraised Value Date | &nbsp;&nbsp;Appraisal Report |  |
| &nbsp;&nbsp;54 | &nbsp;&nbsp;Individual As-Is Appraised Value | &nbsp;&nbsp;Appraisal Report |  |
| &nbsp;&nbsp;55 | &nbsp;&nbsp;Individual As-Is Appraised Value per SF | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;56 | &nbsp;&nbsp;Portfolio Appraised Value Date | &nbsp;&nbsp;Appraisal Report |  |
| &nbsp;&nbsp;57 | &nbsp;&nbsp;Portfolio Appraised Value | &nbsp;&nbsp;Appraisal Report |  |
| &nbsp;&nbsp;58 | &nbsp;&nbsp;Portfolio Appraised Value per SF | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;59 | &nbsp;&nbsp;Engineering Report Provider | &nbsp;&nbsp;Engineering Report |  |
| &nbsp;&nbsp;60 | &nbsp;&nbsp;Engineering Report Date | &nbsp;&nbsp;Engineering Report |  |
| &nbsp;&nbsp;61 | &nbsp;&nbsp;Environmental Report Provider | &nbsp;&nbsp;Environmental Report |  |
| &nbsp;&nbsp;62 | &nbsp;&nbsp;Environmental Report Date | &nbsp;&nbsp;Environmental Report |  |
| &nbsp;&nbsp;63 | &nbsp;&nbsp;Phase II Required? | &nbsp;&nbsp;Environmental Report |  |

---

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**MHP 2025-MHIL2** | &nbsp;&nbsp;**EXHIBIT A** |
| &nbsp;&nbsp;**Loan File Review Procedures** |  |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**#** | &nbsp;&nbsp;**Specified Attribute** | &nbsp;&nbsp;**Source Document (by order of priority)** | &nbsp;&nbsp;**Tolerance Levels** |
| &nbsp;&nbsp;64 | &nbsp;&nbsp;Seismic Zone | &nbsp;&nbsp;Seismic Report; Engineering Report |  |
| &nbsp;&nbsp;65 | &nbsp;&nbsp;PML % | &nbsp;&nbsp;Seismic Report |  |
| &nbsp;&nbsp;66 | &nbsp;&nbsp;Origination Date | &nbsp;&nbsp;None - Company Provided |  |
| &nbsp;&nbsp;67 | &nbsp;&nbsp;Assumed One-month Term SOFR | &nbsp;&nbsp;None - Company Provided |  |
| &nbsp;&nbsp;68 | &nbsp;&nbsp;Assumed Mortgage Loan Spread | &nbsp;&nbsp;None - Company Provided |  |
| &nbsp;&nbsp;69 | &nbsp;&nbsp;Interest Rate | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;70 | &nbsp;&nbsp;Term SOFR Cap | &nbsp;&nbsp;None - Company Provided |  |
| &nbsp;&nbsp;71 | &nbsp;&nbsp;Interest Rate at Term SOFR Cap | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;72 | &nbsp;&nbsp;Term SOFR Lookback days | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;73 | &nbsp;&nbsp;Term SOFR Cap Expiration Date | &nbsp;&nbsp;Interest Rate Cap Term Sheet |  |
| &nbsp;&nbsp;74 | &nbsp;&nbsp;Interest Calculation (30/360 / Actual/360) | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;75 | &nbsp;&nbsp;Amortization Type | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;76 | &nbsp;&nbsp;Mortgage Loan Monthly Debt Service Payment | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;77 | &nbsp;&nbsp;Mortgage Loan Annual Debt Service Payment | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;78 | &nbsp;&nbsp;Mortgage Loan Annual Debt Service Payment at Term SOFR Cap | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;79 | &nbsp;&nbsp;Grace Period - Late Payment | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;80 | &nbsp;&nbsp;Grace Period - Event of Default | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;81 | &nbsp;&nbsp;First Loan Payment Date | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;82 | &nbsp;&nbsp;Seasoning | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;83 | &nbsp;&nbsp;Original Term to Maturity (Months) | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;84 | &nbsp;&nbsp;Remaining Term to Maturity (Months) | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;85 | &nbsp;&nbsp;Original Amortization Term (Months) | &nbsp;&nbsp;Not Applicable\* |  |
| &nbsp;&nbsp;86 | &nbsp;&nbsp;Remaining Amortization Term (Months) | &nbsp;&nbsp;Not Applicable\* |  |
| &nbsp;&nbsp;87 | &nbsp;&nbsp;Original IO Term (Months) | &nbsp;&nbsp;Recalculation |  |

---

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**MHP 2025-MHIL2** | &nbsp;&nbsp;**EXHIBIT A** |
| &nbsp;&nbsp;**Loan File Review Procedures** |  |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**#** | &nbsp;&nbsp;**Specified Attribute** | &nbsp;&nbsp;**Source Document (by order of priority)** | &nbsp;&nbsp;**Tolerance Levels** |
| &nbsp;&nbsp;88 | &nbsp;&nbsp;Remaining IO Term (Months) | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;89 | &nbsp;&nbsp;Initial Maturity Date | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;90 | &nbsp;&nbsp;Floating Rate Component Extensions | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;91 | &nbsp;&nbsp;Fully Extended Maturity Date | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;92 | &nbsp;&nbsp;Lockbox | &nbsp;&nbsp;Cash Management Agreement |  |
| &nbsp;&nbsp;93 | &nbsp;&nbsp;Cash Management Type | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;94 | &nbsp;&nbsp;Cash Management Trigger | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;95 | &nbsp;&nbsp;Administrative Fee Rate (%) | &nbsp;&nbsp;Fee Schedule |  |
| &nbsp;&nbsp;96 | &nbsp;&nbsp;Prepayment Provision | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;97 | &nbsp;&nbsp;Partial Release Allowed? | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;98 | &nbsp;&nbsp;Borrower | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;99 | &nbsp;&nbsp;Guarantor | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;100 | &nbsp;&nbsp;Mortgage Loan Closing Date LTV | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;101 | &nbsp;&nbsp;Mortgage Loan Balloon LTV | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;102 | &nbsp;&nbsp;Mortgage Loan Closing Date LTV (Sum of Individual As-Is Appraised Values) | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;103 | &nbsp;&nbsp;Mortgage Loan Balloon LTV (Sum of Individual As-Is Appraised Values) | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;104 | &nbsp;&nbsp;Mortgage Loan UW NOI Debt Yield | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;105 | &nbsp;&nbsp;Mortgage Loan UW NCF Debt Yield | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;106 | &nbsp;&nbsp;Mortgage Loan UW NOI DSCR | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;107 | &nbsp;&nbsp;Mortgage Loan UW NCF DSCR | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;108 | &nbsp;&nbsp;Mortgage Loan UW NOI DSCR at Term SOFR Cap | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;109 | &nbsp;&nbsp;Mortgage Loan UW NCF DSCR at Term SOFR Cap | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;110 | &nbsp;&nbsp;Initial Tax Escrow | &nbsp;&nbsp;Loan Agreement |  |

---

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**MHP 2025-MHIL2** | &nbsp;&nbsp;**EXHIBIT A** |
| &nbsp;&nbsp;**Loan File Review Procedures** |  |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**#** | &nbsp;&nbsp;**Specified Attribute** | &nbsp;&nbsp;**Source Document (by order of priority)** | &nbsp;&nbsp;**Tolerance Levels** |
| &nbsp;&nbsp;111 | &nbsp;&nbsp;Ongoing Tax Escrow Monthly | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;112 | &nbsp;&nbsp;Tax Escrow Springing Conditions | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;113 | &nbsp;&nbsp;Initial Insurance Escrow | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;114 | &nbsp;&nbsp;Ongoing Insurance Escrow Monthly | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;115 | &nbsp;&nbsp;Insurance Escrow Springing Conditions | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;116 | &nbsp;&nbsp;Initial Cap Ex Escrow | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;117 | &nbsp;&nbsp;Ongoing Cap Ex Escrow Monthly | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;118 | &nbsp;&nbsp;Cap Ex Escrow Springing Conditions | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;119 | &nbsp;&nbsp;Initial Immediate Repairs Escrow | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;120 | &nbsp;&nbsp;Initial Other Escrow | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;121 | &nbsp;&nbsp;Ongoing Other Escrow Monthly | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;122 | &nbsp;&nbsp;Other Escrow Description | &nbsp;&nbsp;Loan Agreement |  |
| &nbsp;&nbsp;123 | &nbsp;&nbsp;In-Place Rental Income 2023 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;124 | &nbsp;&nbsp;In-Place Rental Income 2024 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;125 | &nbsp;&nbsp;In-Place Rental Income June 2025 TTM | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;126 | &nbsp;&nbsp;In-Place Rental Income Sponsor 2025 Budget | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;127 | &nbsp;&nbsp;In-Place Rental Income UW | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;128 | &nbsp;&nbsp;Vacancy Gross Up 2023 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;129 | &nbsp;&nbsp;Vacancy Gross Up 2024 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;130 | &nbsp;&nbsp;Vacancy Gross Up June 2025 TTM | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;131 | &nbsp;&nbsp;Vacancy Gross Up Sponsor 2025 Budget | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;132 | &nbsp;&nbsp;Vacancy Gross Up UW | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;133 | &nbsp;&nbsp;Gross Potential Rent 2023 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |

---

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**MHP 2025-MHIL2** | &nbsp;&nbsp;**EXHIBIT A** |
| &nbsp;&nbsp;**Loan File Review Procedures** |  |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**#** | &nbsp;&nbsp;**Specified Attribute** | &nbsp;&nbsp;**Source Document (by order of priority)** | &nbsp;&nbsp;**Tolerance Levels** |
| &nbsp;&nbsp;134 | &nbsp;&nbsp;Gross Potential Rent 2024 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;135 | &nbsp;&nbsp;Gross Potential Rent June 2025 TTM | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;136 | &nbsp;&nbsp;Gross Potential Rent Sponsor 2025 Budget | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;137 | &nbsp;&nbsp;Gross Potential Rent UW | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;138 | &nbsp;&nbsp;Vacancy 2023 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;139 | &nbsp;&nbsp;Vacancy 2024 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;140 | &nbsp;&nbsp;Vacancy June 2025 TTM | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;141 | &nbsp;&nbsp;Vacancy Sponsor 2025 Budget | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;142 | &nbsp;&nbsp;Vacancy UW | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;143 | &nbsp;&nbsp;Insurance Revenue 2023 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;144 | &nbsp;&nbsp;Insurance Revenue 2024 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;145 | &nbsp;&nbsp;Insurance Revenue June 2025 TTM | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;146 | &nbsp;&nbsp;Insurance Revenue Sponsor 2025 Budget | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;147 | &nbsp;&nbsp;Insurance Revenue UW | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;148 | &nbsp;&nbsp;Late Fees/Admin Fees/Other Income 2023 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;149 | &nbsp;&nbsp;Late Fees/Admin Fees/Other Income 2024 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;150 | &nbsp;&nbsp;Late Fees/Admin Fees/Other Income June 2025 TTM | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;151 | &nbsp;&nbsp;Late Fees/Admin Fees/Other Income Sponsor 2025 Budget | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;152 | &nbsp;&nbsp;Late Fees/Admin Fees/Other Income UW | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;153 | &nbsp;&nbsp;Merchandise 2023 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;154 | &nbsp;&nbsp;Merchandise 2024 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;155 | &nbsp;&nbsp;Merchandise June 2025 TTM | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;156 | &nbsp;&nbsp;Merchandise Sponsor 2025 Budget | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;157 | &nbsp;&nbsp;Merchandise UW | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |

---

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**MHP 2025-MHIL2** | &nbsp;&nbsp;**EXHIBIT A** |
| &nbsp;&nbsp;**Loan File Review Procedures** |  |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**#** | &nbsp;&nbsp;**Specified Attribute** | &nbsp;&nbsp;**Source Document (by order of priority)** | &nbsp;&nbsp;**Tolerance Levels** |
| &nbsp;&nbsp;158 | &nbsp;&nbsp;EGI 2023 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;159 | &nbsp;&nbsp;EGI 2024 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;160 | &nbsp;&nbsp;EGI June 2025 TTM | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;161 | &nbsp;&nbsp;EGI Sponsor 2025 Budget | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;162 | &nbsp;&nbsp;EGI UW | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;163 | &nbsp;&nbsp;Management Fee 2023 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;164 | &nbsp;&nbsp;Management Fee 2024 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;165 | &nbsp;&nbsp;Management Fee June 2025 TTM | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;166 | &nbsp;&nbsp;Management Fee Sponsor 2025 Budget | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;167 | &nbsp;&nbsp;Management Fee UW | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;168 | &nbsp;&nbsp;On Site Payroll 2023 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;169 | &nbsp;&nbsp;On Site Payroll 2024 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;170 | &nbsp;&nbsp;On Site Payroll June 2025 TTM | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;171 | &nbsp;&nbsp;On Site Payroll Sponsor 2025 Budget | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;172 | &nbsp;&nbsp;On Site Payroll UW | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;173 | &nbsp;&nbsp;Electric, Gas & Water 2023 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;174 | &nbsp;&nbsp;Electric, Gas & Water 2024 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;175 | &nbsp;&nbsp;Electric, Gas & Water June 2025 TTM | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;176 | &nbsp;&nbsp;Electric, Gas & Water Sponsor 2025 Budget | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;177 | &nbsp;&nbsp;Electric, Gas & Water UW | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;178 | &nbsp;&nbsp;G&A 2023 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;179 | &nbsp;&nbsp;G&A 2024 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;180 | &nbsp;&nbsp;G&A June 2025 TTM | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;181 | &nbsp;&nbsp;G&A Sponsor 2025 Budget | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;182 | &nbsp;&nbsp;G&A UW | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |

---

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**MHP 2025-MHIL2** | &nbsp;&nbsp;**EXHIBIT A** |
| &nbsp;&nbsp;**Loan File Review Procedures** |  |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**#** | &nbsp;&nbsp;**Specified Attribute** | &nbsp;&nbsp;**Source Document (by order of priority)** | &nbsp;&nbsp;**Tolerance Levels** |
| &nbsp;&nbsp;183 | &nbsp;&nbsp;Repairs & Maintenance 2023 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;184 | &nbsp;&nbsp;Repairs & Maintenance 2024 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;185 | &nbsp;&nbsp;Repairs & Maintenance June 2025 TTM | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;186 | &nbsp;&nbsp;Repairs & Maintenance Sponsor 2025 Budget | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;187 | &nbsp;&nbsp;Repairs & Maintenance UW | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;188 | &nbsp;&nbsp;Marketing 2023 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;189 | &nbsp;&nbsp;Marketing 2024 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;190 | &nbsp;&nbsp;Marketing June 2025 TTM | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;191 | &nbsp;&nbsp;Marketing Sponsor 2025 Budget | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;192 | &nbsp;&nbsp;Marketing UW | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;193 | &nbsp;&nbsp;Insurance 2023 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;194 | &nbsp;&nbsp;Insurance 2024 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;195 | &nbsp;&nbsp;Insurance June 2025 TTM | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;196 | &nbsp;&nbsp;Insurance Sponsor 2025 Budget | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;197 | &nbsp;&nbsp;Insurance UW | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;198 | &nbsp;&nbsp;Real Estate Taxes 2023 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;199 | &nbsp;&nbsp;Real Estate Taxes 2024 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;200 | &nbsp;&nbsp;Real Estate Taxes June 2025 TTM | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;201 | &nbsp;&nbsp;Real Estate Taxes Sponsor 2025 Budget | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;202 | &nbsp;&nbsp;Real Estate Taxes UW | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;203 | &nbsp;&nbsp;Other 2023 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;204 | &nbsp;&nbsp;Other 2024 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;205 | &nbsp;&nbsp;Other June 2025 TTM | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |

---

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**MHP 2025-MHIL2** | &nbsp;&nbsp;**EXHIBIT A** |
| &nbsp;&nbsp;**Loan File Review Procedures** |  |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**#** | &nbsp;&nbsp;**Specified Attribute** | &nbsp;&nbsp;**Source Document (by order of priority)** | &nbsp;&nbsp;**Tolerance Levels** |
| &nbsp;&nbsp;206 | &nbsp;&nbsp;Other Sponsor 2025 Budget | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;207 | &nbsp;&nbsp;Other UW | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;208 | &nbsp;&nbsp;Total Expenses 2023 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;209 | &nbsp;&nbsp;Total Expenses 2024 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;210 | &nbsp;&nbsp;Total Expenses June 2025 TTM | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;211 | &nbsp;&nbsp;Total Expenses Sponsor 2025 Budget | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;212 | &nbsp;&nbsp;Total Expenses UW | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;213 | &nbsp;&nbsp;Net Operating Income 2023 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;214 | &nbsp;&nbsp;Net Operating Income 2024 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;215 | &nbsp;&nbsp;Net Operating Income June 2025 TTM | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;216 | &nbsp;&nbsp;Net Operating Income Sponsor 2025 Budget | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;217 | &nbsp;&nbsp;Net Operating Income UW | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;218 | &nbsp;&nbsp;Replacement Reserves 2023 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;219 | &nbsp;&nbsp;Replacement Reserves 2024 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;220 | &nbsp;&nbsp;Replacement Reserves June 2025 TTM | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;221 | &nbsp;&nbsp;Replacement Reserves Sponsor 2025 Budget | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;222 | &nbsp;&nbsp;Replacement Reserves UW | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;223 | &nbsp;&nbsp;Net Cash Flow 2023 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;224 | &nbsp;&nbsp;Net Cash Flow 2024 | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;225 | &nbsp;&nbsp;Net Cash Flow June 2025 TTM | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;226 | &nbsp;&nbsp;Net Cash Flow Sponsor 2025 Budget | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;227 | &nbsp;&nbsp;Net Cash Flow UW | &nbsp;&nbsp;Underwriting File | &nbsp;&nbsp;$1.00 |
| &nbsp;&nbsp;228 | &nbsp;&nbsp;RevPAF 2023 | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;229 | &nbsp;&nbsp;RevPAF 2024 | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;230 | &nbsp;&nbsp;RevPAF June 2025 TTM | &nbsp;&nbsp;Recalculation |  |
| &nbsp;&nbsp;231 | &nbsp;&nbsp;RevPAF Sponsor 2025 Budget | &nbsp;&nbsp;Recalculation |  |

---

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**MHP 2025-MHIL2** | &nbsp;&nbsp;**EXHIBIT A** |
| &nbsp;&nbsp;**Loan File Review Procedures** |  |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**#** | &nbsp;&nbsp;**Specified Attribute** | &nbsp;&nbsp;**Source Document (by order of priority)** | &nbsp;&nbsp;**Tolerance Levels** |
| &nbsp;&nbsp;232 | &nbsp;&nbsp;RevPAF UW | &nbsp;&nbsp;Recalculation |  |

---

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

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**MHP 2025-MHIL2** | &nbsp;&nbsp;**EXHIBIT B** |
| &nbsp;&nbsp;**Recalculation Methodology** |  |

---

**Exhibit B – Recalculation Methodology**

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**#** | &nbsp;&nbsp;**Specified Attribute** | &nbsp;&nbsp;**Recalculation Methodology** |
| &nbsp;&nbsp;20 | &nbsp;&nbsp;Unit Mix (Available Units) Total | &nbsp;&nbsp;Sum of (i) Unit Mix (Available Units) Regular, (ii) Unit Mix (Available Units) Climate Controlled, (iii) Unit Mix (Available Units) Commercial, and (iv) Unit Mix (Available Units) Other. |
| &nbsp;&nbsp;25 | &nbsp;&nbsp;Unit Mix (Available SF) Total | &nbsp;&nbsp;Sum of (i) Unit Mix (Available SF) Regular, (ii) Unit Mix (Available SF) Climate Controlled, (iii) Unit Mix (Available SF) Commercial, and (iv) Unit Mix (Available SF) Other. |
| &nbsp;&nbsp;30 | &nbsp;&nbsp;Unit Mix (Occupied Units) Total | &nbsp;&nbsp;Sum of (i) Unit Mix (Occupied Units) Regular, (ii) Unit Mix (Occupied Units) Climate Controlled, (iii) Unit Mix (Occupied Units) Commercial, and (iv) Unit Mix (Occupied Units) Other. |
| &nbsp;&nbsp;35 | &nbsp;&nbsp;Unit Mix (Occupied SF) Total | &nbsp;&nbsp;Sum of (i) Unit Mix (Occupied SF) Regular, (ii) Unit Mix (Occupied SF) Climate Controlled, (iii) Unit Mix (Occupied SF) Commercial, and (iv) Unit Mix (Occupied SF) Other. |
| &nbsp;&nbsp;36 | &nbsp;&nbsp;Storage Occupancy UW Occupancy (based on Units) | &nbsp;&nbsp;Quotient of (i) sum of (a) Unit Mix (Occupied Units) Regular and (b) Unit Mix (Occupied Units) Climate Controlled, and (ii) sum of (a) Unit Mix (Available Units) Regular and (b) Unit Mix (Available Units) Climate Controlled. |
| &nbsp;&nbsp;37 | &nbsp;&nbsp;Storage Occupancy UW Occupancy (based on SF) | &nbsp;&nbsp;Quotient of (i) sum of (a) Unit Mix (Occupied SF) Regular and (b) Unit Mix (Occupied SF) Climate Controlled, and (ii) sum of (a) Unit Mix (Available SF) Regular and (b) Unit Mix (Available SF) Climate Controlled. |
| &nbsp;&nbsp;38 | &nbsp;&nbsp;Total Occupancy UW Occupancy (based on Units) | &nbsp;&nbsp;Quotient of (i) Unit Mix (Occupied Units) Total and (ii) Unit Mix (Available Units) Total. |
| &nbsp;&nbsp;39 | &nbsp;&nbsp;Total Occupancy UW Occupancy (based on SF) | &nbsp;&nbsp;Quotient of (i) Unit Mix (Occupied SF) Total and (ii) Unit Mix (Available SF) Total. |
| &nbsp;&nbsp;48 | &nbsp;&nbsp;Mortgage Loan Closing Date Balance | &nbsp;&nbsp;Set equal to Mortgage Loan Original Balance. |
| &nbsp;&nbsp;49 | &nbsp;&nbsp;Mortgage Loan Closing Date Balance per Unit | &nbsp;&nbsp;Quotient of (i) Mortgage Loan Closing Date Balance and (ii) Unit Mix (Available Units) Total. |
| &nbsp;&nbsp;50 | &nbsp;&nbsp;Mortgage Loan Closing Date Balance per SF | &nbsp;&nbsp;Quotient of (i) Mortgage Loan Closing Date Balance and (ii) Unit Mix (Available SF) Total. |
| &nbsp;&nbsp;51 | &nbsp;&nbsp;% of Mortgage Loan Closing Date Balance | &nbsp;&nbsp;Quotient of (i) Mortgage Loan Closing Date Balance and (ii) Mortgage Loan Closing Date Balance. |

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*PricewaterhouseCoopers LLP, 300 Madison Avenue, New York, NY 10017* <br> T: (646) 471-3000, F: (813)-286-6000 www.pwc.com 17 <br>

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| | |
|:---|:---|
| &nbsp;&nbsp;**MHP 2025-MHIL2** | &nbsp;&nbsp;**EXHIBIT B** |
| &nbsp;&nbsp;**Recalculation Methodology** |  |

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**#** | &nbsp;&nbsp;**Specified Attribute** | &nbsp;&nbsp;**Recalculation Methodology** |
| &nbsp;&nbsp;52 | &nbsp;&nbsp;Mortgage Loan Balloon Balance | &nbsp;&nbsp;Set equal to Mortgage Loan Closing Date Balance. |
| &nbsp;&nbsp;55 | &nbsp;&nbsp;Individual As-Is Appraised Value per SF | &nbsp;&nbsp;Quotient of (i) Individual As-Is Appraised Value and (ii) Unit Mix (Available SF) Total. |
| &nbsp;&nbsp;58 | &nbsp;&nbsp;Portfolio Appraised Value per SF | &nbsp;&nbsp;Quotient of (i) Portfolio Appraised Value and (ii) Unit Mix (Available SF) Total. |
| &nbsp;&nbsp;69 | &nbsp;&nbsp;Interest Rate | &nbsp;&nbsp;Sum of (i) Assumed Mortgage Loan Spread and (ii) Assumed One-month Term SOFR. |
| &nbsp;&nbsp;71 | &nbsp;&nbsp;Interest Rate at Term SOFR Cap | &nbsp;&nbsp;Sum of (i) Assumed Mortgage Loan Spread and (ii) Term SOFR Cap. |
| &nbsp;&nbsp;76 | &nbsp;&nbsp;Mortgage Loan Monthly Debt Service Payment | &nbsp;&nbsp;Product of (i) Mortgage Loan Closing Date Balance, (ii) Quotient of (a) Interest Rate and (b) 12, and (iii) Interest Calculation (30/360 / Actual/360). |
| &nbsp;&nbsp;77 | &nbsp;&nbsp;Mortgage Loan Annual Debt Service Payment | &nbsp;&nbsp;Product of (i) Mortgage Loan Monthly Debt Service Payment and (ii) 12. |
| &nbsp;&nbsp;78 | &nbsp;&nbsp;Mortgage Loan Annual Debt Service Payment at Term SOFR Cap | &nbsp;&nbsp;Product of (i) Mortgage Loan Closing Date Balance, (ii) Interest Rate at Term SOFR Cap, and (iii) Interest Calculation (30/360 / Actual/360). |
| &nbsp;&nbsp;82 | &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) Closing Date. |
| &nbsp;&nbsp;83 | &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;84 | &nbsp;&nbsp;Remaining Term to Maturity (Months) | &nbsp;&nbsp;Difference between (i) Original Term to Maturity (Months) and (ii) Seasoning. |
| &nbsp;&nbsp;87 | &nbsp;&nbsp;Original IO Term (Months) | &nbsp;&nbsp;Set equal to the Original Term to Maturity (Months). |
| &nbsp;&nbsp;88 | &nbsp;&nbsp;Remaining IO Term (Months) | &nbsp;&nbsp;Difference between (i) Original IO Term (Months) and (ii) Seasoning. |
| &nbsp;&nbsp;100 | &nbsp;&nbsp;Mortgage Loan Closing Date LTV | &nbsp;&nbsp;Quotient of (i) Mortgage Loan Closing Date Balance and (ii) Portfolio Appraised Value |
| &nbsp;&nbsp;101 | &nbsp;&nbsp;Mortgage Loan Balloon LTV | &nbsp;&nbsp;Quotient of (i) Mortgage Loan Balloon Balance and (ii) Portfolio Appraised Value |
| &nbsp;&nbsp;102 | &nbsp;&nbsp;Mortgage Loan Closing Date LTV (Sum of Individual As-Is Appraised Values) | &nbsp;&nbsp;Quotient of (i) Mortgage Loan Closing Date Balance and (ii) Individual As-Is Appraised Value |

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*PricewaterhouseCoopers LLP, 300 Madison Avenue, New York, NY 10017* <br> T: (646) 471-3000, F: (813)-286-6000 www.pwc.com 18 <br>

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| | |
|:---|:---|
| &nbsp;&nbsp;**MHP 2025-MHIL2** | &nbsp;&nbsp;**EXHIBIT B** |
| &nbsp;&nbsp;**Recalculation Methodology** |  |

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**#** | &nbsp;&nbsp;**Specified Attribute** | &nbsp;&nbsp;**Recalculation Methodology** |
| &nbsp;&nbsp;103 | &nbsp;&nbsp;Mortgage Loan Balloon LTV (Sum of Individual As-Is Appraised Values) | &nbsp;&nbsp;Quotient of (i) Mortgage Loan Balloon Balance and (ii) Individual As-Is Appraised Value |
| &nbsp;&nbsp;104 | &nbsp;&nbsp;Mortgage Loan UW NOI Debt Yield | &nbsp;&nbsp;Quotient of (i) Net Operating Income UW and (ii) Mortgage Loan Closing Date Balance. |
| &nbsp;&nbsp;105 | &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;106 | &nbsp;&nbsp;Mortgage Loan UW NOI DSCR | &nbsp;&nbsp;Quotient of (i) Net Operating Income UW and (ii) Mortgage Loan Annual Debt Service Payment. |
| &nbsp;&nbsp;107 | &nbsp;&nbsp;Mortgage Loan UW NCF DSCR | &nbsp;&nbsp;Quotient of (i) Net Cash Flow UW and (ii) Mortgage Loan Annual Debt Service Payment. |
| &nbsp;&nbsp;108 | &nbsp;&nbsp;Mortgage Loan UW NOI DSCR at Term SOFR Cap | &nbsp;&nbsp;Quotient of (i) Net Operating Income UW and (ii) Mortgage Loan Annual Debt Service Payment at Term SOFR Cap. |
| &nbsp;&nbsp;109 | &nbsp;&nbsp;Mortgage Loan UW NCF DSCR at Term SOFR Cap | &nbsp;&nbsp;Quotient of (i) Net Cash Flow UW and (ii) Mortgage Loan Annual Debt Service Payment at Term SOFR Cap. |
| &nbsp;&nbsp;228 | &nbsp;&nbsp;RevPAF 2023 | &nbsp;&nbsp;Quotient of (i) EGI 2023 and (ii) Unit Mix (Available SF) Total. |
| &nbsp;&nbsp;229 | &nbsp;&nbsp;RevPAF 2024 | &nbsp;&nbsp;Quotient of (i) EGI 2024 and (ii) Unit Mix (Available SF) Total. |
| &nbsp;&nbsp;230 | &nbsp;&nbsp;RevPAF June 2025 TTM | &nbsp;&nbsp;Quotient of (i) EGI June 2025 TTM and (ii) Unit Mix (Available SF) Total. |
| &nbsp;&nbsp;231 | &nbsp;&nbsp;RevPAF Sponsor 2025 Budget | &nbsp;&nbsp;Quotient of (i) EGI Sponsor 2025 Budget and (ii) Unit Mix (Available SF) Total. |
| &nbsp;&nbsp;232 | &nbsp;&nbsp;RevPAF UW | &nbsp;&nbsp;Quotient of (i) EGI UW and (ii) Unit Mix (Available SF) Total. |

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*PricewaterhouseCoopers LLP, 300 Madison Avenue, New York, NY 10017* <br> T: (646) 471-3000, F: (813)-286-6000 www.pwc.com 19 <br>