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Exhibit 4.7    
  

EXHIBIT
D 

SEE
REVERSE SIDE OF CERTIFICATE

FOR RESTRICTIONS ON TRANSFERS &

MANDATORY CONVERSION EVENTS 

	[NUMBER]

PE-1	 	[LOGO]	 	[SHARES]

1
	 	 	 	 	 
	 	 	 	 	 

HAWAIIN AIRLINES, INC.

Organized under the Laws of Hawaii

Series E Special Preferred Stock, par value $0.1 per share  

       

This Certifies that Hawaiian Master Executive Council is the record holder of One  Share of the  HAWAIIAN
AIRLINES, INC. Series E Special Preferred Stock, par value $.01 per share  transferable on the
books of said Corporation in person or by duly authorized Attorney upon surrender of this Certificate properly endorsed or assigned.  

	Witness the seal of the

its duly authorized officers	[STAMP]	Corporation and the signature of
	Dated	 	 
	 	 	 
	[ILLEGIBLE]
 TREASURER	 	[ILLEGIBLE]
 CHAIRMAN OF THE BOARD, PRESIDENT

AND CHIEF EXECUTIVE OFFICER
	 	 	 

HAWAIIAN AIRLINES, INC. 

        The
Corporation will furnish to any shareholder upon request and without charge a full statement of the designations, preferences, limitations and relative rights of shares of each class
authorized to be issued and the variations in the relative rights and preferences between shares of each series of preferred stock so far as the same have been fixed and determined. Requests may be
directed to the Corporation in Honolulu, Hawaii. The Board of Directors of the Corporation has been authorized to fix and determine the relative rights and preferences of each series of preferred
stock subsequently created. 

NOTICE
OF RESTRICTIONS ON TRANSFER & MANDATORY CONVERSION EVENTS 

        THE
SHARES REPRESENTED BY THIS CERTIFICATE MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO (I) AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933, OR (II) AN APPLICABLE
EXEMPTION FROM REGISTRATION THEREUNDER. 

        THE
SALE, ASSIGNMENT OR OTHER DISPOSITION (EACH A "TRANSFER") AND VOTING OF ANY OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE RESTRICTED BY THE TERMS OF THE STOCKHOLDERS
AGREEMENT, DATED JANUARY 31, 1996, BY AND AMONG THE COMPANY, AIRLINE INVESTORS PARTNERSHIP, L.P. AND CERTAIN UNIONS, A COPY OF WHICH MAY BE INSPECTED AT THE COMPANY'S PRINCIPAL OFFICE. THE
COMPANY WILL NOT REGISTER THE TRANSFER OF SUCH SECURITIES ON THE BOOKS OF THE COMPANY IF THE TRANSFER HAS NOT BEEN MADE IN COMPLIANCE WITH THE STOCKHOLDERS AGREEMENT. 

        THE
AMENDED BYLAWS OF THE CORPORATION PROVIDE THAT A TRANSFER OF SHARES OF VOTING STOCK OF THE CORPORATION TO A PERSON WHO IS NOT A U.S. CITIZEN SHALL NOT BE VALID, EXCEPT BETWEEN THE
PARTIES TO THE TRANSFER, UNTIL THE TRANSFER HAS BEEN RECORDED ON THE BOOKS OF THE CORPORATION AND ALSO RECORDED ON THE FOREIGN STOCK RECORD OF THE CORPORATION AS PROVIDED IN THE AMENDED BYLAWS OF THE
CORPORATION. 

        A
SHARE OF THE SERIES B SPECIAL PREFERRED STOCK SHALL BE CONVERTED INTO ONE SHARE OF CLASS A COMMON STOCK AUTOMATICALLY UPON TRANSFER OF SUCH SHARE TO ANY PERSON WHO IS NOT
AN AFFILIATE (AS DEFINED IN SECTION 5(a)(1)(a) OF THE DESIGNATION OF SPECIAL PREFERRED STOCK) OF THE INITIAL HOLDER OF SUCH SHARE OF SERIES B SPECIAL PREFERRED STOCK. 

        EACH
SHARE OF SERIES B SPECIAL PREFERRED STOCK SHALL BE CONVERTED INTO ONE SHARE OF CLASS A COMMON STOCK AUTOMATICALLY IF THE HOLDER OF SERIES B SPECIAL PREFERRED
STOCK IS THE HOLDER OF RECORD OF LESS THAN 5% OF THE OUTSTANDING COMMON EQUITY INTEREST (AS DEFINED IN SECTION 5(a)(1)(a) OF THE DESIGNATION OF SPECIAL PREFERRED STOCK) OF THE STOCK OF THE
CORPORATION FOR A PERIOD OF 365 DAYS. 

THE
FOLLOWING CERTIFICATE MUST BE EXECUTED 

BEFORE
TRANSFER MAY BE MADE ON THE BOOKS OF THE CORPORATION. 

        The
undersigned hereby certifies that the assignee(s) below is (are) respectively 

        No.
of shares 

	 	A U.S. citizen	o	an alien	o	and that the beneficial owner is a U.S. citizen	o	an alien	o
	
	 	 	 	 	 	 	 	 
	 	A U.S. citizen	o	an alien	o	and that the beneficial owner is a U.S. citizen	o	an alien	o
	
	 	 	 	 	 	 	 	 
	 	A U.S. citizen	o	an alien	o	and that the beneficial owner is a U.S. citizen	o	an alien	o
	
	 	 	 	 	 	 	 	 
	 	A U.S. citizen	o	an alien	o	and that the beneficial owner is a U.S. citizen	o	an alien	o
	
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 

        NOTICE    THE SIGNATURE OF THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME AS WRITTEN UPON THE FACE OF THE
CERTIFICATE, IN EVERY PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT, OR ANY CHANGE WHATEVER  

        For Value Received,
                        hereby sell, assign, and transfer
unto                                         
                                          
             
Shares of the Capital Stock represented by the within Certificate and do hereby irrevocably constitute and
appoint                                        
        Attorney to transfer the said Stock on the books of
the within named Corporation with full power of substitution in the premises.  

        Dated                        19             

                In presence of  

       

       

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Exhibit 4.7================================================================================

                   MORGAN STANLEY DEAN WITTER CAPITAL I INC.,
                                  as Depositor,

                           ORIX CAPITAL MARKETS, LLC,
                               as Master Servicer,

                       LEND LEASE ASSET MANAGEMENT, L.P.,
                              as Special Servicer,

                       LASALLE BANK NATIONAL ASSOCIATION,
               as Trustee, Paying Agent and Certificate Registrar,

                                       and

                               ABN AMRO BANK N.V.,
                                as Fiscal Agent.

                         POOLING AND SERVICING AGREEMENT

                            Dated as of June 1, 2002

                  COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
                                 SERIES 2002-IQ2

================================================================================

<PAGE>

                                TABLE OF CONTENTS

                                                                            Page

                                    ARTICLE I

                                   DEFINITIONS

Section 1.1   Definitions....................................................
Section 1.2   Calculations Respecting Mortgage Loans.........................
Section 1.3   Calculations Respecting Accrued Interest.......................
Section 1.4   Interpretation.................................................

                                   ARTICLE II

                            DECLARATION OF TRUST;
                            ISSUANCES OF CERTIFICATES

Section 2.1   Conveyance of Mortgage Loans...................................
Section 2.2   Acceptance by Trustee..........................................
Section 2.3   Sellers' Repurchase of Mortgage Loans for Material
               Document Defects and Material Breaches of
               Representations and Warranties................................
Section 2.4   Representations and Warranties.................................
Section 2.5   Conveyance of Interests........................................

                                   ARTICLE III

                                THE CERTIFICATES

Section 3.1   The Certificates...............................................
Section 3.2   Registration...................................................
Section 3.3   Transfer and Exchange of Certificates..........................
Section 3.4   Mutilated, Destroyed, Lost or Stolen Certificates..............
Section 3.5   Persons Deemed Owners..........................................
Section 3.6   Access to List of Certificateholders' Names and Addresses......
Section 3.7   Book-Entry Certificates........................................
Section 3.8   Notices to Clearing Agency.....................................
Section 3.9   Definitive Certificates........................................

                                   ARTICLE IV

                                    ADVANCES

Section 4.1   P&I Advances by Master Servicer................................
Section 4.2   Servicing Advances.............................................
Section 4.3   Advances by the Trustee and the Fiscal Agent...................
Section 4.4   Evidence of Nonrecoverability..................................
Section 4.5   Interest on Advances; Calculation of Outstanding Advances
               with Respect to a Mortgage Loan...............................
Section 4.6   Reimbursement of Advances and Advance Interest.................
Section 4.7   Fiscal Agent Termination Event.................................
Section 4.8   Procedure Upon Termination Event...............................
Section 4.9   Merger or Consolidation of Fiscal Agent........................
Section 4.10  Limitation on Liability of the Fiscal Agent and Others.........
Section 4.11  Indemnification of Fiscal Agent................................

                                    ARTICLE V

                           ADMINISTRATION OF THE TRUST

Section 5.1   Collections....................................................
Section 5.2   Application of Funds in the Certificate Account and
               Interest Reserve Account......................................
Section 5.3   Distribution Account and Reserve Account.......................
Section 5.4   Paying Agent Reports...........................................
Section 5.5   Paying Agent Tax Reports.......................................

                                   ARTICLE VI

                                  DISTRIBUTIONS

Section 6.1   Distributions Generally........................................
Section 6.2   REMIC I........................................................
Section 6.3   REMIC II.......................................................
Section 6.4   Reserved.......................................................
Section 6.5   REMIC III......................................................
Section 6.6   Allocation of Realized Losses, Expense Losses and
               Shortfalls Due to Nonrecoverability...........................
Section 6.7   Net Aggregate Prepayment Interest Shortfalls...................
Section 6.8   Adjustment of Servicing Fees...................................
Section 6.9   Appraisal Reductions...........................................
Section 6.10  Compliance with Withholding Requirements.......................
Section 6.11  Prepayment Premiums............................................

                                   ARTICLE VII

                 CONCERNING THE TRUSTEE, THE FISCAL AGENT AND
                                THE PAYING AGENT

Section 7.1   Duties of the Trustee, the Fiscal Agent and the Paying
               Agent.........................................................
Section 7.2   Certain Matters Affecting the Trustee, the Fiscal Agent
               and the Paying Agent..........................................
Section 7.3   The Trustee, the Fiscal Agent and the Paying Agent Not
               Liable for Certificates or Interests or Mortgage Loans........
Section 7.4   The Trustee, the Fiscal Agent and the Paying Agent May
               Own Certificates..............................................
Section 7.5   Eligibility Requirements for the Trustee, the Fiscal
               Agent and the Paying Agent....................................
Section 7.6   Resignation and Removal of the Trustee, the Fiscal Agent
               or the Paying Agent...........................................
Section 7.7   Successor Trustee, Fiscal Agent or Paying Agent................
Section 7.8   Merger or Consolidation of Trustee, Fiscal Agent or
               Paying Agent..................................................
Section 7.9   Appointment of Co-Trustee, Separate Trustee, Agents or
               Custodian.....................................................
Section 7.10  Authenticating Agents..........................................
Section 7.11  Indemnification of Trustee, the Fiscal Agent and the
               Paying Agent..................................................
Section 7.12  Fees and Expenses of Trustee, the Fiscal Agent and the
               Paying Agent..................................................
Section 7.13  Collection of Moneys...........................................
Section 7.14  Trustee To Act; Appointment of Successor.......................
Section 7.15  Notification to Holders........................................
Section 7.16  Representations and Warranties of the Trustee, the Fiscal
               Agent and the Paying Agent....................................
Section 7.17  Fidelity Bond and Errors and Omissions Insurance Policy
               Maintained by the Trustee, the Fiscal Agent and the
               Paying Agent..................................................

                                  ARTICLE VIII

                ADMINISTRATION AND SERVICING OF MORTGAGE LOANS

Section 8.1   Servicing Standard; Servicing Duties...........................
Section 8.2   Fidelity Bond and Errors and Omissions Insurance Policy
               Maintained by the Master Servicer.............................
Section 8.3   Master Servicer's General Power and Duties.....................
Section 8.4   Primary Servicing and Sub-Servicing............................
Section 8.5   Servicers May Own Certificates.................................
Section 8.6   Maintenance of Hazard Insurance, Other Insurance, Taxes
               and Other.....................................................
Section 8.7   Enforcement of Due-On-Sale Clauses; Assumption
               Agreements; Due-On-Encumbrance Clause.........................
Section 8.8   Trustee to Cooperate; Release of Trustee Mortgage Files........
Section 8.9   Documents, Records and Funds in Possession of Master
               Servicer to be Held for the Trustee for the Benefit of
               the Certificateholders........................................
Section 8.10  Servicing Compensation.........................................
Section 8.11  Master Servicer Reports; Account Statements....................
Section 8.12  Annual Statement as to Compliance..............................
Section 8.13  Annual Independent Public Accountants' Servicing Report........
Section 8.14  Operating Statement Analysis Reports Regarding the
               Mortgaged Properties..........................................
Section 8.15  Other Available Information and Certain Rights of the
               Master Servicer...............................................
Section 8.16  Rule 144A Information..........................................
Section 8.17  Inspections....................................................
Section 8.18  Modifications, Waivers, Amendments, Extensions and
               Consents......................................................
Section 8.19  Specially Serviced Mortgage Loans..............................
Section 8.20  Representations, Warranties and Covenants of the Master
               Servicer......................................................
Section 8.21  Merger or Consolidation........................................
Section 8.22  Resignation of Master Servicer.................................
Section 8.23  Assignment or Delegation of Duties by Master Servicer..........
Section 8.24  Limitation on Liability of the Master Servicer and Others......
Section 8.25  Indemnification; Third-Party Claims............................
Section 8.26  Exchange Act Reporting.........................................
Section 8.27  Compliance with REMIC Provisions...............................
Section 8.28  Termination....................................................
Section 8.29  Procedure Upon Termination.....................................
Section 8.30  Certain Matters Relating to Certain Mortgage Loans.............

                                   ARTICLE IX

 ADMINISTRATION AND SERVICING OF SPECIALLY SERVICED MORTGAGE LOANS BY SPECIAL
                                    SERVICER

Section 9.1   Duties of Special Servicer.....................................
Section 9.2   Fidelity Bond and Errors and Omissions Insurance Policy
               of Special Servicer...........................................
Section 9.3   Sub-Servicers..................................................
Section 9.4   Special Servicer General Powers and Duties.....................
Section 9.5   "Due-on-Sale" Clauses; Assignment and Assumption
               Agreements; Modifications of Specially Serviced Mortgage
               Loans; Due-On-Encumbrance Clauses.............................
Section 9.6   Release of Mortgage Files......................................
Section 9.7   Documents, Records and Funds in Possession of Special
               Servicer To Be Held for the Trustee...........................
Section 9.8   Representations, Warranties and Covenants of the Special
               Servicer......................................................
Section 9.9   Standard Hazard, Flood and Comprehensive General
               Liability Insurance Policies..................................
Section 9.10  Presentment of Claims and Collection of Proceeds...............
Section 9.11  Compensation to the Special Servicer...........................
Section 9.12  Realization Upon Defaulted Mortgage Loans......................
Section 9.13  Foreclosure....................................................
Section 9.14  Operation of REO Property......................................
Section 9.15  Sale of REO Property...........................................
Section 9.16  Realization on Collateral Security.............................
Section 9.17  Reserved.......................................................
Section 9.18  Annual Officer's Certificate as to Compliance..................
Section 9.19  Annual Independent Accountants' Servicing Report...............
Section 9.20  Merger or Consolidation........................................
Section 9.21  Resignation of Special Servicer................................
Section 9.22  Assignment or Delegation of Duties by Special Servicer.........
Section 9.23  Limitation on Liability of the Special Servicer and Others.....
Section 9.24  Indemnification; Third-Party Claims............................
Section 9.25  Reserved.......................................................
Section 9.26  Special Servicer May Own Certificates..........................
Section 9.27  Tax Reporting..................................................
Section 9.28  Application of Funds Received..................................
Section 9.29  Compliance with REMIC Provisions...............................
Section 9.30  Termination....................................................
Section 9.31  Procedure Upon Termination.....................................
Section 9.32  Certain Special Servicer Reports...............................
Section 9.33  Special Servicer to Cooperate with the Master Servicer
               and Paying Agent..............................................
Section 9.34  Reserved.......................................................
Section 9.35  Reserved.......................................................
Section 9.36  Sale of Defaulted Mortgage Loans...............................
Section 9.37  Operating Adviser; Elections...................................
Section 9.38  Limitation on Liability of Operating Adviser and One
               Seaport Plaza Operating Adviser...............................
Section 9.39  Duties of Operating Adviser and One Seaport Plaza
               Operating Adviser.............................................

                                    ARTICLE X

                      PURCHASE AND TERMINATION OF THE TRUST

Section 10.1  Termination of Trust Upon Repurchase or Liquidation of
               All Mortgage Loans............................................
Section 10.2  Procedure Upon Termination of Trust............................
Section 10.3  Additional Trust Termination Requirements......................

                                   ARTICLE XI

                          RIGHTS OF CERTIFICATEHOLDERS

Section 11.1  Limitation on Rights of Holders................................
Section 11.2  Access to List of Holders......................................
Section 11.3  Acts of Holders of Certificates................................

                                   ARTICLE XII

                              REMIC ADMINISTRATION

Section 12.1  REMIC Administration...........................................
Section 12.2  Prohibited Transactions and Activities.........................
Section 12.3  Modifications of Mortgage Loans................................
Section 12.4  Liability with Respect to Certain Taxes and Loss of REMIC
               Status........................................................

                                  ARTICLE XIII

                            MISCELLANEOUS PROVISIONS

Section 13.1  Binding Nature of Agreement....................................
Section 13.2  Entire Agreement...............................................
Section 13.3  Amendment......................................................
Section 13.4  GOVERNING LAW..................................................
Section 13.5  Notices........................................................
Section 13.6  Severability of Provisions.....................................
Section 13.7  Indulgences; No Waivers........................................
Section 13.8  Headings Not to Affect Interpretation..........................
Section 13.9  Benefits of Agreement..........................................
Section 13.10 Special Notices to the Rating Agencies.........................
Section 13.11 Counterparts...................................................
Section 13.12 Intention of Parties...........................................
Section 13.13 Recordation of Agreement.......................................
Section 13.14 Rating Agency Monitoring Fees..................................
Section 13.15 Acknowledgement by Primary Servicer............................

<PAGE>

                             EXHIBITS AND SCHEDULES

EXHIBIT A-1      Form of Class A-1 Certificate
EXHIBIT A-2      Form of Class A-2 Certificate
EXHIBIT A-3      Form of Class A-3 Certificate
EXHIBIT A-4      Form of Class A-4 Certificate
EXHIBIT A-5      Form of Class B Certificate
EXHIBIT A-6      Form of Class C Certificate
EXHIBIT A-7      Form of Class D Certificate
EXHIBIT A-8      Form of Class E Certificate
EXHIBIT A-9      Form of Class F Certificate
EXHIBIT A-10     Form of Class G Certificate
EXHIBIT A-11     Form of Class H Certificate
EXHIBIT A-12     Form of Class J Certificate
EXHIBIT A-13     Form of Class K Certificate
EXHIBIT A-14     Form of Class L Certificate
EXHIBIT A-15     Form of Class M Certificate
EXHIBIT A-16     Form of Class N Certificate
EXHIBIT A-17     Form of Class O Certificate
EXHIBIT A-18     Form of Class R-I Certificate
EXHIBIT A-19     Form of Class R-II Certificate
EXHIBIT A-20     Form of Class R-III Certificate
EXHIBIT A-21     Form of Class X-1 Certificate
EXHIBIT A-22     Form of Class X-2 Certificate
EXHIBIT B-1      Form of Initial Certification of Trustee (Section 2.2)
EXHIBIT B-2      Form of Final Certification of Trustee (Section 2.2)
EXHIBIT C        Form of Request for Release
EXHIBIT D-1      Form of Transferor Certificate for Transfers to Definitive
                 Privately Offered Certificates (Section 3.3(c))
EXHIBIT D-2A     Form I of Transferee Certificate for Transfers of Definitive
                 Privately Offered Certificates (Section 3.3(c))
EXHIBIT D-2B     Form II of Transferee Certificate for Transfers of
                 Definitive Privately Offered Certificates (Section 3.3(c))
EXHIBIT D-3A     Form I of Transferee Certificate for Transfers of Interests
                 in Book-Entry Privately Offered Certificates (Section 3.3(c))
EXHIBIT D-3B     Form II of Transferee Certificate for Transfers of Interests
                 in Book-Entry Privately Offered Certificates (Section 3.3(c))
EXHIBIT E-1      Form of Transfer Affidavit and Agreement (Section 3.3(e))
EXHIBIT E-2      Form of Transfer Affidavit and Agreement (Section 3.3(e))
EXHIBIT F        Form of Regulation S Certificate
EXHIBIT G        Reserved
EXHIBIT H        Form of Exchange Certification
EXHIBIT I        Form of EUROCLEAR or Clearstream Certificate (Section 3.7(d)
EXHIBIT J        List of Loans as to Which Excess Servicing Fees Are Paid
EXHIBIT K-1      Form of Mortgage Loan Purchase Agreement I (JHREF)
EXHIBIT K-2      Form of Mortgage Loan Purchase Agreement II (MSDWMC)
EXHIBIT K-3      Form of Mortgage Loan Purchase Agreement III (Principal)
EXHIBIT K-4      Form of Mortgage Loan Purchase Agreement IV (State Farm)
EXHIBIT K-5      Form of Mortgage Loan Purchase Agreement V (TIAA)
EXHIBIT L        Form of Inspection Report
EXHIBIT M        Form of Monthly Certificateholders Report (Section 5.4(a))
EXHIBIT N        Form of Operating Statement Analysis Report
EXHIBIT O        Reserved
EXHIBIT P        Form of NOI Adjustment Worksheet
EXHIBIT Q        Reserved
EXHIBIT R        Reserved
EXHIBIT S-1      Form of Power of Attorney to Master Servicer (Section 8.3(c))
EXHIBIT S-2      Form of Power of Attorney to Special Servicer
                 (Section 9.4(a))
EXHIBIT T        Reserved
EXHIBIT U        Form of Assignment and Assumption Submission to Special
                 Servicer (Section 8.7(a))
EXHIBIT V        Form of Additional Lien, Monetary Encumbrance and Mezzanine
                 Financing Submission Package to the Special Servicer
                 (Section 8.7(e))
EXHIBIT W        Restricted Servicer Reports
EXHIBIT X        Unrestricted Servicer Reports
EXHIBIT Y        Investor Certificate (Section 5.4(a))
EXHIBIT Z        Form of Notice and Certification (Section 8.3(h))

SCHEDULE I       JHREF Loan Schedule
SCHEDULE II      MSDWMC Loan Schedule
SCHEDULE III     Principal Loan Schedule
SCHEDULE IV      State Farm Loan Schedule
SCHEDULE V       TIAA Loan Schedule
SCHEDULE VI      List of Escrow Accounts Not Currently Eligible Accounts
                 (Section 8.3(e))
SCHEDULE VII     Certain Escrow Accounts for Which a Report Under Section
                 5.1(g) is Required
SCHEDULE VIII    List of Mortgagors that are Third-Party Beneficiaries Under
                 Section 2.3(a)
SCHEDULE IX      Rates Used in Determination of Class X Pass-Through Rates
                 ("Class X-1 Strip Rate" and "Class X-2 Strip Rate")

<PAGE>

            THIS POOLING AND SERVICING AGREEMENT is dated as of June 1, 2002
(this "Agreement") among MORGAN STANLEY DEAN WITTER CAPITAL I INC., a Delaware
corporation, as depositor (the "Depositor"), ORIX CAPITAL MARKETS, LLC, as
master servicer (the "Master Servicer"), LEND LEASE ASSET MANAGEMENT, L.P., as
special servicer (the "Special Servicer"), LASALLE BANK NATIONAL ASSOCIATION, as
trustee of the Trust (in such capacity, the "Trustee"), as paying agent (in such
capacity, the "Paying Agent") and as certificate registrar, and ABN AMRO BANK
N.V., only in its capacity as a fiscal agent pursuant to Article IV hereof (the
"Fiscal Agent").

                              PRELIMINARY STATEMENT

            On the Closing Date, the Depositor will acquire the Mortgage Loans
from John Hancock Real Estate Finance, Inc., as seller ("JHREF"), Morgan Stanley
Dean Witter Mortgage Capital Inc., as seller ("MSDWMC"), Principal Silver, LLC,
as seller ("Principal"), State Farm Life Insurance Company, as seller ("State
Farm") and Teachers Insurance and Annuity Association of America ("TIAA"), as
seller, and will be the owner of the Mortgage Loans and the other property being
conveyed by it to the Trustee for inclusion in the Trust which is hereby
created. On the Closing Date, the Depositor will acquire (i) the REMIC I Regular
Interests and the Class R-I Certificate as consideration for its transfer to the
Trust of the Mortgage Loans and the other property constituting the Trust; (ii)
the REMIC II Regular Interests and the Class R-II Certificates as consideration
for its transfer of the REMIC I Regular Interests to the Trust; and (iii) the
REMIC III Certificates as consideration for its transfer of the REMIC II Regular
Interests to the Trust. The Depositor has duly authorized the execution and
delivery of this Agreement to provide for the foregoing and the issuance of (A)
the REMIC I Regular Interests and the Class R-I Certificates representing in the
aggregate the entire beneficial ownership of REMIC I, (B) the REMIC II Regular
Interests and the Class R-II Certificates representing in the aggregate the
entire beneficial ownership of REMIC II and (C) the REMIC III Certificates
representing in the aggregate the entire beneficial ownership of REMIC III. All
covenants and agreements made by the Depositor and the Trustee herein with
respect to the Mortgage Loans and the other property constituting the Trust are
for the benefit of the Holders of the REMIC I Regular Interests, the REMIC II
Regular Interests, the Residual Certificates and the REMIC Regular Certificates.
The parties hereto are entering into this Agreement, and the Trustee is
accepting the trusts created hereby, for good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged.

            The Class A-1, Class A-2, Class A-3, Class A-4, Class B, Class C and
Class D Certificates will be offered for sale pursuant to the prospectus (the
"Prospectus") dated June 6, 2002, as supplemented by the preliminary prospectus
supplement dated June 6, 2002 (together with the Prospectus, the "Preliminary
Prospectus Supplement"), and as further supplemented by the final prospectus
supplement dated June 19, 2002 (together with the Prospectus, the "Final
Prospectus Supplement"), and the Class X-1, Class X-2, Class E, Class F, Class
G, Class H, Class J, Class K, Class L, Class M, Class N and Class O Certificates
will be offered for sale pursuant to a Private Placement Memorandum dated June
19, 2002.

            The following sets forth the Class designation, Pass-Through Rate,
initial Aggregate Certificate Balance (or initial Notional Amount) and Final
Scheduled Distribution Date for each Class of REMIC I Regular Interests and the
Class R-I Certificates comprising the interests in REMIC I, each Class of REMIC
II Regular Interests and the Class R-II Certificates comprising the interests in
REMIC II and each Class of REMIC III Certificates comprising the interests in
REMIC III created hereunder:

                                     REMIC I

            Each REMIC I Regular Interest (a "Corresponding REMIC I Regular
Interest") will relate to a specific Mortgage Loan. Each Corresponding REMIC I
Regular Interest will have a pass-through rate equal to the REMIC I Net Mortgage
Rate of the related Mortgage Loan, an initial principal amount (the initial
"Certificate Balance") equal to the Scheduled Principal Balance as of the
Cut-Off Date (as herein defined) of the Mortgage Loan to which the Corresponding
REMIC I Regular Interest relates, and a latest possible maturity date set to the
Maturity Date (as defined herein) of the Mortgage Loan to which the
Corresponding REMIC I Regular Interest relates. The Class R-I Certificate will
be designated as the sole Class of residual interests in REMIC I and will have
no Certificate Balance and no Pass-Through Rate, but will be entitled to receive
the proceeds of any assets remaining in REMIC I after all Classes of REMIC I
Regular Interests have been paid in full.

                                    REMIC II

            The REMIC II Regular Interests have the pass-through rates and
Certificate Balances set forth in the definition thereof. The Class R-II
Certificates will be designated as the sole Class of residual interests in REMIC
II and will have no Certificate Balance and no Pass-Through Rate, but will be
entitled to receive the proceeds of any assets remaining in REMIC II after all
Classes of REMIC II Regular Interests have been paid in full.

                                    REMIC III

                                       Initial Aggregate
    REMIC III         Initial        Certificate Principal
Regular Interest    Pass-Through      Balance or Notional      Final Scheduled
   Designation        Rate(a)               Amount          Distribution Date(b)

Class A-1                4.09%          $ 118,000,000              5/15/07
Class A-2                5.16%          $ 131,500,000              4/15/09
Class A-3                5.52%          $ 151,000,000              8/15/11
Class A-4                5.74%          $ 262,260,000              12/15/12
Class X-1(c)             0.32%          $ 778,574,565              11/15/19
Class X-2(d)             1.75%          $ 691,924,000              6/15/09
Class B                  5.93%          $  25,305,000              3/15/14
Class C                  6.12%          $  24,330,000              4/15/15
Class D                  6.23%          $   7,786,000              12/15/15
Class E                  6.78%          $   7,786,000              8/15/16
Class F                  6.97%          $   7,785,000              2/15/17
Class G                  7.28%          $   5,840,000              7/15/17
Class H                  5.77%          $   9,732,000              5/15/18
Class J                  5.77%          $   5,839,000              12/15/18
Class K                  5.77%          $   3,893,000              3/15/19
Class L                  5.77%          $   3,893,000              7/15/19
Class M                  5.77%          $   2,920,000              7/15/19
Class N                  5.77%          $   2,919,000              7/15/19
Class O                  5.77%          $   7,786,565              11/15/19
Class R-III(c)          N/A                   N/A                    N/A

(a)   On each Distribution Date after the initial Distribution Date, the
      Pass-Through Rate for each Class of Certificates will be determined as
      described herein under the definition of "Pass-Through Rate."

(b)   The Final Scheduled Distribution Date for each Class of Certificates
      assigned a rating is the Distribution Date on which such Class is expected
      to be paid in full, assuming that timely payments (and no prepayments)
      will be made on the Mortgage Loans in accordance with their terms.

(c)   Each Class X-1 Certificate represents ownership of multiple "regular
      interests" in REMIC III. The Class X-1 Certificates are comprised of the
      following regular interests:

      (1)   the right to receive, on each Distribution Date, the product of (A)
            the Certificate Balance of the Class A-1A Component and (B) one
            twelfth of the excess (if any) of (x) the Weighted Average REMIC I
            Net Mortgage Rate on such Distribution Date over (y) the
            Pass-Through Rate of the Class A-1 Certificates;

      (2)   the right to receive, on each Distribution Date, the product of (A)
            the Certificate Balance of the Class A-1B Component and (B) one
            twelfth of the excess (if any) of (x) the Weighted Average REMIC I
            Net Mortgage Rate on such Distribution Date over (y) the rate shown
            on Schedule IX for such Distribution Date occurring on or before
            June 2004, or after the Distribution Date in June 2004, the
            Pass-Through Rate of the Class A-1 Certificates;

      (3)   the right to receive, on each Distribution Date, the product of (A)
            the Certificate Balance of the Class A-1C Component and (B) one
            twelfth of the excess (if any) of (x) the Weighted Average REMIC I
            Net Mortgage Rate on such Distribution Date over (y) the rate shown
            on Schedule IX for such Distribution Date occurring on or before
            June 2005, or after the Distribution Date in June 2005, the
            Pass-Through Rate of the Class A-1 Certificates;

      (4)   the right to receive, on each Distribution Date, the product of (A)
            the Certificate Balance of the Class A-2A Component and (B) one
            twelfth of the excess (if any) of (x) the Weighted Average REMIC I
            Net Mortgage Rate on such Distribution Date over (y) the rate shown
            on Schedule IX for such Distribution Date occurring on or before
            June 2005, or after the Distribution Date in June 2005, the
            Pass-Through Rate of the Class A-2 Certificates;

      (5)   the right to receive, on each Distribution Date, the product of (A)
            the Certificate Balance of the Class A-2B Component and (B) one
            twelfth of the excess (if any) of (x) the Weighted Average REMIC I
            Net Mortgage Rate on such Distribution Date over (y) the rate shown
            on Schedule IX for such Distribution Date occurring on or before
            June 2006, or after the Distribution Date in June 2006, the
            Pass-Through Rate of the Class A-2 Certificates;

      (6)   the right to receive, on each Distribution Date, the product of (A)
            the Certificate Balance of the Class A-2C Component and (B) one
            twelfth of the excess (if any) of (x) the Weighted Average REMIC I
            Net Mortgage Rate on such Distribution Date over (y) the rate shown
            on Schedule IX for such Distribution Date occurring on or before
            June 2007, or after the Distribution Date in June 2007, the
            Pass-Through Rate of the Class A-2 Certificates;

      (7)   the right to receive, on each Distribution Date, the product of (A)
            the Certificate Balance of the Class A-3A Component and (B) one
            twelfth of the excess (if any) of (x) the Weighted Average REMIC I
            Net Mortgage Rate on such Distribution Date over (y) the rate shown
            on Schedule IX for such Distribution Date occurring on or before
            June 2007, or after the Distribution Date in June 2007, the
            Pass-Through Rate of the Class A-3 Certificates;

      (8)   the right to receive, on each Distribution Date, the product of (A)
            the Certificate Balance of the Class A-3B Component and (B) one
            twelfth of the excess (if any) of (x) the Weighted Average REMIC I
            Net Mortgage Rate on such Distribution Date over (y) the rate shown
            on Schedule IX for such Distribution Date occurring on or before
            June 2008, or after the Distribution Date in June 2008, the
            Pass-Through Rate of the Class A-3 Certificates;

      (9)   the right to receive, on each Distribution Date, the product of (A)
            the Certificate Balance of the Class A-3C Component and (B) one
            twelfth of the excess (if any) of (x) the Weighted Average REMIC I
            Net Mortgage Rate on such Distribution Date over (y) the rate shown
            on Schedule IX for such Distribution Date occurring on or before
            June 2009, or after the Distribution Date in June 2009, the
            Pass-Through Rate of the Class A-3 Certificates;

      (10)  the right to receive, on each Distribution Date, the product of (A)
            the Certificate Balance of the Class A-4 Certificate and (B) one
            twelfth of the excess (if any) of (x) the Weighted Average REMIC I
            Net Mortgage Rate on such Distribution Date over (y) the rate shown
            on Schedule IX for such Distribution Date occurring on or before
            June 2009, or after the Distribution Date in June 2009, the
            Pass-Through Rate of the Class A-4 Certificates;

      (11)  the right to receive, on each Distribution Date, the product of (A)
            the Certificate Balance of the Class B Certificate and (B) one
            twelfth of the excess (if any) of (x) the Weighted Average REMIC I
            Net Mortgage Rate on such Distribution Date over (y) the rate shown
            on Schedule IX for such Distribution Date occurring on or before
            June 2009, or after the Distribution Date in June 2009, the
            Pass-Through Rate of the Class B Certificates;

      (12)  the right to receive, on each Distribution Date, the product of (A)
            the Certificate Balance of the Class C-2 Component and (B) one
            twelfth of the excess (if any) of (x) the Weighted Average REMIC I
            Net Mortgage Rate on such Distribution Date over (y) the rate shown
            on Schedule IX for such Distribution Date occurring on or before
            June 2009, or after the Distribution Date in June 2009, the
            Pass-Through Rate of the Class C Certificates;

      (13)  the right to receive, on each Distribution Date, the product of (A)
            the Certificate Balance of the Class C-1 Component and (B) one
            twelfth of the excess (if any) of (x) the Weighted Average REMIC I
            Net Mortgage Rate on such Distribution Date over (y) the rate shown
            on Schedule IX for such Distribution Date occurring on or before
            June 2008, or after the Distribution Date in June 2008, the
            Pass-Through Rate of the Class C Certificates;

      (14)  the right to receive, on each Distribution Date, the product of (A)
            the Certificate Balance of the Class D Certificate and (B) one
            twelfth of the excess (if any) of (x) the Weighted Average REMIC I
            Net Mortgage Rate on such Distribution Date over (y) the rate shown
            on Schedule IX for such Distribution Date occurring on or before
            June 2007, or after the Distribution Date in June 2007, the
            Pass-Through Rate of the Class D Certificates;

      (15)  the right to receive, on each Distribution Date, the product of (A)
            the Certificate Balance of the Class E-2 Component and (B) one
            twelfth of the excess (if any) of (x) the Weighted Average REMIC I
            Net Mortgage Rate on such Distribution Date over (y) the rate shown
            on Schedule IX for such Distribution Date occurring on or before
            June 2007, or after the Distribution Date in June 2007, the
            Pass-Through Rate of the Class E Certificates;

      (16)  the right to receive, on each Distribution Date, the product of (A)
            the Certificate Balance of the Class E-1 Component and (B) one
            twelfth of the excess (if any) of (x) the Weighted Average REMIC I
            Net Mortgage Rate on such Distribution Date over (y) the rate shown
            on Schedule IX for such Distribution Date occurring on or before
            June 2006, or after the Distribution Date in June 2006, the
            Pass-Through Rate of the Class E Certificates;

      (17)  the right to receive, on each Distribution Date, the product of (A)
            the Certificate Balance of the Class F-2 Component and (B) one
            twelfth of the excess (if any) of (x) the Weighted Average REMIC I
            Net Mortgage Rate on such Distribution Date over (y) the rate shown
            on Schedule IX for such Distribution Date occurring on or before
            June 2007, or after the Distribution Date in June 2007, the
            Pass-Through Rate of the Class F Certificates;

      (18)  the right to receive, on each Distribution Date, the product of (A)
            the Certificate Balance of the Class F-1 Component and (B) one
            twelfth of the excess (if any) of (x) the Weighted Average REMIC I
            Net Mortgage Rate on such Distribution Date over (y) the rate shown
            on Schedule IX for such Distribution Date occurring on or before
            June 2005, or after the Distribution Date in June 2005, the
            Pass-Through Rate of the Class F Certificates;

      (19)  the right to receive, on each Distribution Date, the product of (A)
            the Certificate Balance of the Class G Certificates and (B) one
            twelfth of the excess (if any) of (x) the Weighted Average REMIC I
            Net Mortgage Rate on such Distribution Date over (y) the
            Pass-Through Rate of the Class G Certificates;

      (20)  the right to receive, on each Distribution Date, the product of (A)
            the Certificate Balance of the Class H-2 Component and (B) one
            twelfth of the excess (if any) of (x) the Weighted Average REMIC I
            Net Mortgage Rate on such Distribution Date over (y) the rate shown
            on Schedule IX for such Distribution Date occurring on or before
            June 2005, or after the Distribution Date in June 2005, the
            Pass-Through Rate of the Class H Certificates;

      (21)  the right to receive, on each Distribution Date, the product of (A)
            the Certificate Balance of the Class H-1 Component and (B) one
            twelfth of the excess (if any) of (x) the Weighted Average REMIC I
            Net Mortgage Rate on such Distribution Date over (y) the rate shown
            on Schedule IX for such Distribution Date occurring on or before
            June 2004, or after the Distribution Date in June 2004, the
            Pass-Through Rate of the Class H Certificates;

      (22)  the right to receive, on each Distribution Date, the product of (A)
            the Certificate Balance of the Class J Certificates and (B) one
            twelfth of the excess (if any) of (x) the Weighted Average REMIC I
            Net Mortgage Rate on such Distribution Date over (y) the
            Pass-Through Rate of the Class J Certificates;

      (23)  the right to receive, on each Distribution Date, the product of (A)
            the Certificate Balance of the Class K Certificates and (B) one
            twelfth of the excess (if any) of (x) the Weighted Average REMIC I
            Net Mortgage Rate on such Distribution Date over (y) the
            Pass-Through Rate of the Class K Certificates;

      (24)  the right to receive, on each Distribution Date, the product of (A)
            the Certificate Balance of the Class L Certificates and (B) one
            twelfth of the excess (if any) of (x) the Weighted Average REMIC I
            Net Mortgage Rate on such Distribution Date over (y) the
            Pass-Through Rate of the Class L Certificates;

      (25)  the right to receive, on each Distribution Date, the product of (A)
            the Certificate Balance of the Class M Certificates and (B) one
            twelfth of the excess (if any) of (x) the Weighted Average REMIC I
            Net Mortgage Rate on such Distribution Date over (y) the
            Pass-Through Rate of the Class M Certificates;

      (26)  the right to receive, on each Distribution Date, the product of (A)
            the Certificate Balance of the Class N Certificates and (B) one
            twelfth of the excess (if any) of (x) the Weighted Average REMIC I
            Net Mortgage Rate on such Distribution Date over (y) the
            Pass-Through Rate of the Class N Certificates; and

      (27)  the right to receive, on each Distribution Date, the product of (A)
            the Certificate Balance of the Class O Certificates and (B) one
            twelfth of the excess (if any) of (x) the Weighted Average REMIC I
            Net Mortgage Rate on such Distribution Date over (y) the
            Pass-Through Rate of the Class O Certificates.

(d)   Each Class X-2 Certificate represents ownership of multiple "regular
      interests" in REMIC III. The Class X-2 Certificates are comprised of the
      following regular interests:

      (1)   the right to receive, on each Distribution Date, the product of (A)
            the Certificate Balance of the Class A-1B Component and (B) one
            twelfth of the excess (if any) of (i) the lesser of (x) the rate
            shown on Schedule IX for such Distribution Date and (y) the Weighted
            Average REMIC I Net Mortgage Rate on such Distribution Date, over
            (ii) the Pass-Through Rate of the Class A-1 Certificates;

      (2)   the right to receive, on each Distribution Date, the product of (A)
            the Certificate Balance of the Class A-1C Component and (B) one
            twelfth of the excess (if any) of (i) the lesser of (x) the rate
            shown on Schedule IX for such Distribution Date and (y) the Weighted
            Average REMIC I Net Mortgage Rate on such Distribution Date, over
            (ii) the Pass-Through Rate of the Class A-1 Certificates;

      (3)   the right to receive, on each Distribution Date, the product of (A)
            the Certificate Balance of the Class A-2A Component and (B) one
            twelfth of the excess (if any) of (i) the lesser of (x) the rate
            shown on Schedule IX for such Distribution Date and (y) the Weighted
            Average REMIC I Net Mortgage Rate on such Distribution Date, over
            (ii) the Pass-Through Rate of the Class A-2 Certificates;

      (4)   the right to receive, on each Distribution Date, the product of (A)
            the Certificate Balance of the Class A-2B Component and (B) one
            twelfth of the excess (if any) of (i) the lesser of (x) the rate
            shown on Schedule IX for such Distribution Date and (y) the Weighted
            Average REMIC I Net Mortgage Rate on such Distribution Date, over
            (ii) the Pass-Through Rate of the Class A-2 Certificates;

      (5)   the right to receive, on each Distribution Date, the product of (A)
            the Certificate Balance of the Class A-2C Component and (B) one
            twelfth of the excess (if any) of (i) the lesser of (x) the rate
            shown on Schedule IX for such Distribution Date and (y) the Weighted
            Average REMIC I Net Mortgage Rate on such Distribution Date, over
            (ii) the Pass-Through Rate of the Class A-2 Certificates;

      (6)   the right to receive, on each Distribution Date, the product of (A)
            the Certificate Balance of the Class A-3A Component and (B) one
            twelfth of the excess (if any) of (i) the lesser of (x) the rate
            shown on Schedule IX for such Distribution Date and (y) the Weighted
            Average REMIC I Net Mortgage Rate on such Distribution Date, over
            (ii) the Pass-Through Rate of the Class A-3 Certificates;

      (7)   the right to receive, on each Distribution Date, the product of (A)
            the Certificate Balance of the Class A-3B Component and (B) one
            twelfth of the excess (if any) of (i) the lesser of (x) the rate
            shown on Schedule IX for such Distribution Date and (y) the Weighted
            Average REMIC I Net Mortgage Rate on such Distribution Date, over
            (ii) the Pass-Through Rate of the Class A-3 Certificates;

      (8)   the right to receive, on each Distribution Date, the product of (A)
            the Certificate Balance of the Class A-3C Component and (B) one
            twelfth of the excess (if any) of (i) the lesser of (x) the rate
            shown on Schedule IX for such Distribution Date and (y) the Weighted
            Average REMIC I Net Mortgage Rate on such Distribution Date, over
            (ii) the Pass-Through Rate of the Class A-3 Certificates;

      (9)   the right to receive, on each Distribution Date, the product of (A)
            the Certificate Balance of the Class A-4 Certificates and (B) one
            twelfth of the excess (if any) of (i) the lesser of (x) the rate
            shown on Schedule IX for such Distribution Date and (y) the Weighted
            Average REMIC I Net Mortgage Rate on such Distribution Date, over
            (ii) the Pass-Through Rate of the Class A-4 Certificates;

      (10)  the right to receive, on each Distribution Date, the product of (A)
            the Certificate Balance of the Class B Certificates and (B) one
            twelfth of the excess (if any) of (i) the lesser of (x) the rate
            shown on Schedule IX for such Distribution Date and (y) the Weighted
            Average REMIC I Net Mortgage Rate on such Distribution Date, over
            (ii) the Pass-Through Rate of the Class B Certificates;

      (11)  the right to receive, on each Distribution Date, the product of (A)
            the Certificate Balance of the Class C-2 Component and (B) one
            twelfth of the excess (if any) of (i) the lesser of (x) the rate
            shown on Schedule IX for such Distribution Date and (y) the Weighted
            Average REMIC I Net Mortgage Rate on such Distribution Date, over
            (ii) the Pass-Through Rate of the Class C Certificates;

      (12)  the right to receive, on each Distribution Date, the product of (A)
            the Certificate Balance of the Class C-1 Component and (B) one
            twelfth of the excess (if any) of (i) the lesser of (x) the rate
            shown on Schedule IX for such Distribution Date and (y) the Weighted
            Average REMIC I Net Mortgage Rate on such Distribution Date, over
            (ii) the Pass-Through Rate of the Class C Certificates;

      (13)  the right to receive, on each Distribution Date, the product of (A)
            the Certificate Balance of the Class D Certificates and (B) one
            twelfth of the excess (if any) of (i) the lesser of (x) the rate
            shown on Schedule IX for such Distribution Date and (y) the Weighted
            Average REMIC I Net Mortgage Rate on such Distribution Date, over
            (ii) the Pass-Through Rate of the Class D Certificates;

      (14)  the right to receive, on each Distribution Date, the product of (A)
            the Certificate Balance of the Class E-2 Component and (B) one
            twelfth of the excess (if any) of (i) the lesser of (x) the rate
            shown on Schedule IX for such Distribution Date and (y) the Weighted
            Average REMIC I Net Mortgage Rate on such Distribution Date, over
            (ii) the Pass-Through Rate of the Class E Certificates;

      (15)  the right to receive, on each Distribution Date, the product of (A)
            the Certificate Balance of the Class E-1 Component and (B) one
            twelfth of the excess (if any) of (i) the lesser of (x) the rate
            shown on Schedule IX for such Distribution Date and (y) the Weighted
            Average REMIC I Net Mortgage Rate on such Distribution Date, over
            (ii) the Pass-Through Rate of the Class E Certificates;

      (16)  the right to receive, on each Distribution Date, the product of (A)
            the Certificate Balance of the Class F-2 Component and (B) one
            twelfth of the excess (if any) of (i) the lesser of (x) the rate
            shown on Schedule IX for such Distribution Date and (y) the Weighted
            Average REMIC I Net Mortgage Rate on such Distribution Date, over
            (ii) the Pass-Through Rate of the Class G Certificates;

      (17)  the right to receive, on each Distribution Date, the product of (A)
            the Certificate Balance of the Class F-1 Component and (B) one
            twelfth of the excess (if any) of (i) the lesser of (x) the rate
            shown on Schedule IX for such Distribution Date and (y) the Weighted
            Average REMIC I Net Mortgage Rate on such Distribution Date, over
            (ii) the Pass-Through Rate of the Class G Certificates;

      (18)  the right to receive, on each Distribution Date, the product of (A)
            the Certificate Balance of the Class G Certificates and (B) one
            twelfth of the excess (if any) of (i) the lesser of (x) the rate
            shown on Schedule IX for such Distribution Date and (y) the Weighted
            Average REMIC I Net Mortgage Rate on such Distribution Date, over
            (ii) the Pass-Through Rate of the Class G Certificates;

      (19)  the right to receive, on each Distribution Date, the product of (A)
            the Certificate Balance of the Class H-2 Component and (B) one
            twelfth of the excess (if any) of (i) the lesser of (x) the rate
            shown on Schedule IX for such Distribution Date and (y) the Weighted
            Average REMIC I Net Mortgage Rate on such Distribution Date, over
            (ii) the Pass-Through Rate of the Class H Certificates; and

      (20)  the right to receive, on each Distribution Date, the product of (A)
            the Certificate Balance of the Class H-1 Component and (B) one
            twelfth of the excess (if any) of (i) the lesser of (x) the rate
            shown on Schedule IX for such Distribution Date and (y) the Weighted
            Average REMIC I Net Mortgage Rate on such Distribution Date, over
            (ii) the Pass-Through Rate of the Class H Certificates.

      After the Distribution Date in June 2004, payments made in respect of the
      Class A-1B Component shall not be included in the calculation of the
      amount paid in respect of the Class X-2 Certificates. After the
      Distribution Date in June 2005, payments made in respect of the Class A-1C
      Component and Class H-1 Component shall not be included in the calculation
      of the amount paid in respect of the Class X-2 Certificates. After the
      Distribution Date in June 2006, payments made in respect of the Class A-2B
      Component, Class E Certificates and Class F-2 Component shall not be
      included in the calculation of the amount paid in respect of the Class X-2
      Certificates. After the Distribution Date in June 2007, payments made in
      respect of the Class A-2C Component, the Class A-3A Component, Class D
      Certificates and Class E-2 Component shall not be included in the
      calculation of the amount paid in respect of the Class X-2 Certificates.
      After the Distribution Date in June 2008, payments made in respect of the
      Class A-3C Component and Class C-2 Component shall not be included in the
      calculation of the amount paid in respect of the Class X-2 Certificates.

(e)   The Class R-III Certificates will be entitled to receive the proceeds of
      any remaining assets in REMIC III after the principal amounts of all
      Classes of Certificates have been reduced to zero and any Realized Losses
      previously allocated thereto (and any interest thereon) have been
      reimbursed.

            As of the Cut-Off Date, the Mortgage Loans had an Aggregate
Principal Balance of $778,574,565.

            As provided herein, with respect to the Trust, the Paying Agent on
behalf of the Trustee will make an election for the segregated pool of assets
described in the first paragraph of Section 12.1(a) hereof (including the
Mortgage Loans) to be treated for federal income tax purposes as a real estate
mortgage investment conduit ("REMIC I"). The REMIC I Regular Interests will be
designated as the "regular interests" in REMIC I and the Class R-I Certificates
will be designated as the sole Class of "residual interests" in REMIC I.

            As provided herein, with respect to the Trust, the Paying Agent on
behalf of the Trustee will make an election for the segregated pool of assets
described in the second paragraph of Section 12.1(a) hereof consisting of the
REMIC I Regular Interests to be treated for federal income tax purposes as a
real estate mortgage investment conduit ("REMIC II"). The REMIC II Regular
Interests will be designated as the "regular interests" in REMIC II and the
Class R-II Certificates will be designated as the sole Class of "residual
interests" in REMIC II for purposes of the REMIC Provisions.

            As provided herein, with respect to the Trust, the Paying Agent on
behalf of the Trustee will make an election for the segregated pool of assets
described in the third paragraph of Section 12.1(a) hereof consisting of the
REMIC II Regular Interests to be treated for federal income tax purposes as a
real estate mortgage investment conduit ("REMIC III"). The REMIC III Regular
Interests will be designated as the "regular interests" in REMIC III and the
Class R-III Certificates (together with the REMIC Regular Certificates, the
"REMIC III Certificates") will be designated as the sole Class of "residual
interests" in REMIC III for purposes of the REMIC Provisions.

                                    ARTICLE I

                                   DEFINITIONS

            Section 1.1 Definitions. Whenever used in this Agreement, the
following words and phrases, unless the context otherwise requires, shall have
the following meanings:

            "ACCOUNTANT" means a person engaged in the practice of accounting
who is Independent.

            "ACCRUED CERTIFICATE INTEREST" means with respect to each
Distribution Date and any Class of Interests or Principal Balance Certificates,
other than the Class X Certificates, the Class R-I Certificates, the Class R-II
Certificates and the Class R-III Certificates, interest accrued during the
Interest Accrual Period relating to such Distribution Date on the Aggregate
Certificate Balance of such Class or Interest as of the close of business on the
immediately preceding Distribution Date at the respective rates per annum set
forth in the definition of the applicable Pass-Through Rate for each such Class.
Accrued Certificate Interest on the Class X-1 Certificates for each Distribution
Date will equal the Class X-1 Interest Amount. Accrued Certificate Interest on
the Class X-2 Certificates for each Distribution Date will equal the Class X-2
Interest Amount.

            "ACQUISITION DATE" means the date upon which, under the Code (and in
particular the REMIC Provisions and Section 856(e) of the Code), the Trust or a
REMIC Pool is deemed to have acquired a Mortgaged Property (or an interest
therein, in the case of the Mortgaged Properties securing the One Seaport Plaza
Loan Pair or the 2002-HQ Mortgage Loan).

            "ADDITIONAL INITIAL DEPOSIT" means a deposit in the amount of
$43,137.00 made by the Depositor on the Closing Date consisting of a principal
portion ($30,692.00), an interest portion ($221.00) and a prepayment yield
amount of ($12,224). Any provision of this Agreement to the contrary
notwithstanding, the portion of the Additional Initial Deposit consisting of the
prepayment yield amount shall not be an asset of any REMIC Pool formed
hereunder, but shall be (i) treated as an asset of the Trust Fund beneficially
owned by the Depositor for federal income tax purposes, and (ii) distributed by
the Trustee on the Distribution Date in July 2002 to the Classes of Certificates
that would be entitled to the distribution of a Prepayment Premium with respect
to the principal portion of the Additional Initial Deposit pursuant to the
second through fifth sentences of Section 6.11 as a separate contractual
arrangement between the Depositor and each such Class outside of the REMIC
Pools, and (iii) to the extent of any amount of such prepayment yield amount
remaining after such distributions, distributed to the Depositor by the Trustee.

            "ADDITIONAL TRUST EXPENSE" means any of the following items: (i)
Special Servicing Fees, Work-Out Fees and Liquidation Fees (to the extent not
collected from the related Mortgagor), (ii) Advance Interest that cannot be paid
from Late Fees and default interest in accordance with Section 4.6(c); (iii)
amounts paid to indemnify the Master Servicer, the Special Servicer, any Primary
Servicer, the 2002-HQ Master Servicer, the 2002-HQ Special Servicer, the
Certificate Registrar, the Trustee, the Paying Agent, the Fiscal Agent (or any
other Person) pursuant to the terms of this Agreement; (iv) to the extent not
otherwise paid, any federal, state, or local taxes imposed on the Trust or its
assets and paid from amounts on deposit in the Certificate Account or
Distribution Account, (v) the amount of any Advance that is not recovered from
the proceeds of a Mortgage Loan (other than the Woodfield Pari Passu Loan) or
the One Seaport Plaza Loan Pair and (vi) to the extent not included in the
calculation of a Realized Loss and not covered by indemnification by one of the
parties hereto or otherwise, any other unanticipated cost, liability, or expense
(or portion thereof) of the Trust (including costs of collecting such amounts or
other Additional Trust Expenses) which the Trust has not recovered, and in the
judgment of the Master Servicer (or the Special Servicer, in the case of a
Specially Serviced Mortgage Loan) will not, recover from the related Mortgagor
or Mortgaged Property or otherwise, including a Modification Loss described in
clause (ii) of the definition thereof. Notwithstanding anything to the contrary,
"Additional Trust Expenses" shall not include allocable overhead of the Master
Servicer, the Special Servicer, the Trustee, the Paying Agent, the Certificate
Registrar or the Fiscal Agent, such as costs for office space, office equipment,
supplies and related expenses, employee salaries and related expenses, and
similar internal costs and expenses, except to the extent specifically allowed
in this Agreement.

            "ADJUSTED MORTGAGE RATE" means with respect to any Mortgage Loan
that accrues interest on the basis of a 360-day year consisting of twelve (12)
30-day months ("30/360 basis"), the Mortgage Rate thereof minus the
Administrative Cost Rate. For any Mortgage Loan that accrues interest on a basis
other than that of a 30/360 basis and with respect to any Distribution Date, the
rate that, when applied to the Principal Balance of the related Mortgage Loan
(on the day prior to the Due Date preceding such Distribution Date) on a 30/360
basis for the related loan accrual period, yields the amount of interest
actually due on such Mortgage Loan on the Due Date preceding such Distribution
Date (less the Administrative Cost Rate for such Mortgage Loan); provided that
for purposes of this definition (i) the Adjusted Mortgage Rate for the loan
accrual period relating to the Due Dates in both January and February in any
year that is not a leap year and in February in any year that is a leap year,
shall be determined net of any amounts transferred to the Interest Reserve
Account and (ii) the Adjusted Mortgage Rate for the loan accrual period relating
to the Due Date in March shall be determined taking into account the addition of
any amounts withdrawn from the Interest Reserve Account.

            "ADMINISTRATIVE COST RATE" means the sum of the Master Servicing Fee
Rate, the Primary Servicing Fee Rate, the Excess Servicing Fee Rate, the Special
Servicing Stand-by Fee Rate and the Trustee Fee Rate and, in the case of the
Woodfield Pari Passu Loan, the Woodfield Pari Passu Loan Servicing Fee Rate and
any other trustee fee rate payable therefrom.

            "ADVANCE" means any of a P&I Advance, a Servicing Advance or a
Balloon Advance.

            "ADVANCE INTEREST" means interest payable to the Master Servicer,
the Special Servicer, the Trustee or the Fiscal Agent on outstanding Advances
pursuant to Section 4.5 of this Agreement and any interest payable to the
2002-HQ Master Servicer with respect to Pari Passu Loan, Nonrecoverable P&I
Advances and Pari Passu Nonrecoverable Servicing Advances pursuant to Section
4.4(b) hereof.

            "ADVANCE RATE" means a per annum rate equal to the Prime Rate as
published in the "Money Rates" section of The Wall Street Journal from time to
time or, if no longer so published, such other publication as determined by the
Trustee in its reasonable discretion.

            "ADVANCE REPORT DATE" means the third Business Day prior to each
Distribution Date.

            "ADVERSE REMIC EVENT" means any action that, under the REMIC
Provisions, if taken or not taken, as the case may be, would either (i) endanger
the status of any REMIC as a REMIC or (ii) subject to Section 9.14(e), result in
the imposition of a tax upon the income of any REMIC or any of their respective
assets or transactions, including (without limitation) the tax on prohibited
transactions as defined in Code Section 860F(a)(2) and the tax on prohibited
contributions set forth in Section 860G(d) of the Code.

            "AFFILIATE" means, with respect to any specified Person, any other
Person controlling or controlled by or under common control with such specified
Person. For the purposes of this definition, "control" when used with respect to
any specified Person means the power to direct the management and policies of
such Person, directly or indirectly, whether through the ownership of voting
securities, by contract or otherwise; and the terms "controlling" and
"controlled" have meanings correlative to the foregoing.

            "AGGREGATE CERTIFICATE BALANCE" means the aggregate of the
Certificate Balances of the Principal Balance Certificates, the REMIC I Regular
Interests or the REMIC II Regular Interests, as the case may be, at any date of
determination. With respect to a Class of Principal Balance Certificates, REMIC
I Regular Interests or REMIC II Regular Interests, Aggregate Certificate Balance
shall mean the aggregate of the Certificate Balances of all Certificates or
Interests, as the case may be, of that Class at any date of determination.

            "AGGREGATE PRINCIPAL BALANCE" means, at the time of any
determination and as the context may require, the aggregate of the Scheduled
Principal Balances for all Mortgage Loans.

            "AGREEMENT" means this Pooling and Servicing Agreement and all
amendments and supplements hereto.

            "APPRAISAL" means an appraisal by a state certified appraiser having
at least five years' experience in appraising property of the same type as, and
in the same geographic area as, the Mortgaged Property being appraised, which
appraisal complies with the Uniform Standards of Professional Appraisal
Practices and states the "market value" of the subject property as defined in 12
C.F.R. ss. 225.62.

            "APPRAISAL EVENT" means, with respect to any Mortgage Loan, not
later than the earliest of (i) the date 120 days after the occurrence of any
delinquency in payment with respect to such Mortgage Loan if such delinquency
remains uncured, (ii) the date 30 days after receipt of notice that the related
Mortgagor has filed a bankruptcy petition or the related Mortgagor has become
the subject of involuntary bankruptcy proceedings or the related Mortgagor has
consented to the filing of a bankruptcy proceeding against it or a receiver is
appointed in respect of the related Mortgaged Property, provided such petition
or appointment is still in effect, (iii) the date that is 30 days following the
date the related Mortgaged Property becomes an REO Property and (iv) the
effective date of any modification to a Money Term of a Mortgage Loan, other
than an extension of the date that a Balloon Payment is due for a period of less
than six months from the original due date of such Balloon Payment.

            "APPRAISAL REDUCTION" means, with respect to any Required Appraisal
Loan with respect to which an Appraisal or internal valuation is performed
pursuant to Section 6.9, an amount equal to the excess of (A) the sum, as of the
first Determination Date that is at least 15 days after the date on which the
Appraisal or internal valuation is obtained or performed, of (i) the Scheduled
Principal Balance of such Mortgage Loan or the One Seaport Plaza Loan Pair (or,
in the case of an REO Property, the related REO Mortgage Loan) less the undrawn
principal amount of any letter of credit or debt service reserve, if applicable,
that is then securing such Mortgage Loan or the One Seaport Plaza Loan Pair,
(ii) to the extent not previously advanced by the Master Servicer, the Trustee
or the Fiscal Agent, all accrued and unpaid interest on such Mortgage Loan or
the One Seaport Plaza Loan Pair at a per annum rate equal to the Mortgage Rate,
(iii) all unreimbursed Advances and interest on Advances at the Advance Rate
with respect to such Mortgage Loan or the One Seaport Plaza Loan Pair, and (iv)
to the extent funds on deposit in any applicable Escrow Accounts are not
sufficient therefor, and to the extent not previously advanced by the Master
Servicer, the Trustee or the Fiscal Agent, all currently due and unpaid real
estate taxes and assessments, insurance premiums and, if applicable, ground
rents and other amounts which were required to be deposited in any Escrow
Account (but were not deposited) in respect of such Mortgaged Property or REO
Property, as the case may be, over (B) 90% of the Appraised Value (net of any
prior mortgage liens) of such Mortgaged Property or REO Property as determined
by such Appraisal or internal valuation, as the case may be, plus the amount of
any escrows held by or on behalf of the Trustee as security for the Mortgage
Loan or the One Seaport Plaza Loan Pair (less the estimated amount of the
obligations anticipated to be payable in the next twelve (12) months to which
such escrows relate). Each Appraisal or internal valuation for a Required
Appraisal Loan shall be updated annually from the date of such Appraisal or
internal valuation. The Appraisal Reduction for each Required Appraisal Loan
will be recalculated based on subsequent Appraisals, internal valuations or
updates. Any Appraisal Reduction for any Mortgage Loan shall be reduced to
reflect any Realized Principal Losses on the Required Appraisal Loan. Each
Appraisal Reduction will be reduced to zero as of the date the related Mortgage
Loan or the One Seaport Plaza Loan Pair is brought current under the then
current terms of the Mortgage Loan or the One Seaport Plaza Loan Pair for at
least three consecutive months, and no Appraisal Reduction will exist as to any
Mortgage Loan or the One Seaport Plaza Loan Pair after it has been paid in full,
liquidated, repurchased or otherwise disposed of. Any Appraisal Reduction in
respect of the Woodfield Pari Passu Loan shall be calculated by the 2002-HQ
Master Servicer in accordance with and pursuant to the terms of the 2002-HQ
Pooling and Servicing Agreement and based upon the applicable allocation of the
items set forth in clauses (A) and (B) above between the Woodfield Pari Passu
Loan and the 2002-HQ Mortgage Loan. The Appraisal Reduction for the One Seaport
Plaza Loan Pair shall be allocated, as between the One Seaport Plaza Pari Passu
Loan and the One Seaport Plaza Companion Loan, pro rata according to their
respective Principal Balances.

            "APPRAISED VALUE" means, (i) with respect to any Mortgaged Property
(other than the Mortgaged Property securing the Woodfield Pari Passu Loan), the
appraised value thereof determined by an Appraisal of the Mortgaged Property
securing such Mortgage Loan made by an Independent appraiser selected by the
Master Servicer or the Special Servicer, as applicable or, in the case of an
internal valuation performed by the Special Servicer pursuant to Section 6.9,
the value of the Mortgaged Property determined by such internal valuation and
(ii) with respect to the Mortgaged Property securing the Woodfield Pari Passu
Loan, the portion of the appraised value allocable thereto.

            "ASSIGNMENT OF LEASES" means, with respect to any Mortgage Loan, any
assignment of leases, rents and profits or equivalent instrument, whether
contained in the related Mortgage or executed separately, assigning to the
holder or holders of such Mortgage all of the related Mortgagor's interest in
the leases, rents and profits derived from the ownership, operation, leasing or
disposition of all or a portion of the related Mortgaged Property as security
for repayment of such Mortgage Loan.

            "ASSIGNMENT OF MORTGAGE" means an assignment of the Mortgage, notice
of transfer or equivalent instrument, in recordable form, sufficient under the
laws of the jurisdiction wherein the related Mortgaged Property is located to
reflect the transfer of the Mortgage to the Trustee, which assignment, notice of
transfer or equivalent instrument may be in the form of one or more blanket
assignments covering the Mortgage Loans secured by Mortgaged Properties located
in the same jurisdiction, if permitted by law.

            "ASSUMED SCHEDULED PAYMENT" means: (i) with respect to any Balloon
Mortgage Loan for its Maturity Date (provided that such Mortgage Loan has not
been paid in full, and no Final Recovery Determination or other sale or
liquidation has occurred in respect thereof, on or before the end of the
Collection Period in which such Maturity Date occurs) and for any subsequent Due
Date therefor as of which such Mortgage Loan remains outstanding and part of the
Trust, if no Scheduled Payment (other than the related delinquent Balloon
Payment) is due for such Due Date, the scheduled monthly payment of principal
and interest deemed to be due in respect thereof on such Due Date equal to the
Scheduled Payment that would have been due in respect of such Mortgage Loan on
such Due Date, if it had been required to continue to accrue interest in
accordance with its terms, and to pay principal in accordance with the
amortization schedule in effect immediately prior to, and without regard to the
occurrence of, its most recent Maturity Date (as such may have been extended in
connection with a bankruptcy or similar proceeding involving the related
Mortgagor or a modification, waiver or amendment of such Mortgage Loan granted
or agreed to by the Master Servicer or the Special Servicer pursuant to the
terms hereof), and (ii) with respect to any REO Mortgage Loan for any Due Date
therefor as of which the related REO Property remains part of the Trust, the
scheduled monthly payment of principal and interest deemed to be due in respect
thereof on such Due Date equal to the Scheduled Payment (or, in the case of a
Balloon Mortgage Loan described in the preceding clause of this definition, the
Assumed Scheduled Payment) that was due in respect of the related Mortgage Loan
on the last Due Date prior to its becoming an REO Mortgage Loan.

            "AUTHENTICATING AGENT" means any authenticating agent serving in
such capacity pursuant to Section 7.10.

            "AUTHORIZED OFFICER" means any Person that may execute an Officer's
Certificate on behalf of the Depositor.

            "AVAILABLE ADVANCE REIMBURSEMENT AMOUNT" has the meaning set forth
in Section 4.6(a) hereof.

            "AVAILABLE DISTRIBUTION AMOUNT" means, with respect to any
Distribution Date, an amount equal to the aggregate of (a) (I) all amounts on
deposit in the Distribution Account as of the commencement of business on such
Distribution Date (including the principal and interest portions of the
Additional Initial Deposit, but not the prepayment yield amount portion) that
represent payments and other collections on or in respect of the Mortgage Loans
and any REO Properties that were received by the Master Servicer or the Special
Servicer through the end of the related Collection Period (or, with respect to
Principal Prepayments or Balloon Payments through the Business Day immediately
prior to the Master Servicer Remittance Date), (II) as to any Post Determination
Date Mortgage Loans, (x) all Scheduled Payments (excluding Balloon Payments
received on and after the Master Servicer Remittance Date) received in the month
on or after the related Determination Date (provided that such amounts shall be
applied by the Master Servicer to reimburse any P&I Advances made on the related
Master Servicer Remittance Date by the Master Servicer (or the Trustee or the
Fiscal Agent) with respect to such Post Determination Date Mortgage Loan and
such Scheduled Payments shall not be part of the Available Distribution Amount
for the next Distribution Date) and (y) all Balloon Payments (net of
reimbursements of P&I Advances made with respect to such Balloon Loan by the
Master Servicer for such Distribution Date) or Principal Prepayments received in
the month on and after the related Master Servicer Remittance Date (provided
that such amounts shall be part of the Available Distribution Amount for the
next such Distribution Date) and (III) as to any Post Collection Period Loans
and REO Properties, all amounts on deposit in the Distribution Account as of the
commencement of business on such Distribution Date that represent Scheduled
Payments on or in respect of such Post Collection Period Loans and REO
Properties that were received by the Master Servicer through the Business Day
immediately prior to the Master Servicer Remittance Date, exclusive of (i) any
such amounts that were deposited in the Distribution Account in error, (ii)
amounts that are payable or reimbursable to any Person other than the
Certificateholders (including amounts payable to the Master Servicer in respect
of unpaid Master Servicing Fees, the Primary Servicers in respect of unpaid
Primary Servicing Fees, the Special Servicer in respect of unpaid Special
Servicer Compensation, the Trustee in respect of unpaid Trustee Fees, the Paying
Agent in respect of unpaid Paying Agent Fees or to the parties entitled thereto
in respect of the unpaid Excess Servicing Fees), (iii) amounts that constitute
Prepayment Premiums, (iv) if such Distribution Date occurs during January, other
than in a leap year, or February of any year, the Interest Reserve Amounts with
respect to Interest Reserve Loans deposited in the Interest Reserve Account, (v)
in the case of each REO Property related to the One Seaport Plaza Loan Pair, all
amounts received with respect to the One Seaport Plaza Loan Pair that are
required to be paid to the holder of each One Seaport Plaza Companion Loan,
pursuant to the terms of such One Seaport Plaza Companion Loan, as applicable,
and the One Seaport Plaza Intercreditor Agreement (which amounts will be
deposited into the One Seaport Plaza Companion Loan Custodial Account, as
applicable, pursuant to Section 5.1(c) and withdrawn from such account pursuant
to Section 5.2(a)) and (vi) Scheduled Payments collected but due on a Due Date
occurring in the month subsequent to the current Distribution Date and (b) if
and to the extent not already among the amounts described in clause (a), (i) the
aggregate amount of any P&I Advances made by the Master Servicer, the Trustee or
the Fiscal Agent for such Distribution Date pursuant to Section 4.1 and/or
Section 4.3 (and any advances made by the 2002-HQ Master Servicer and the
2002-HQ Trustee in respect of the Woodfield Pari Passu Loan) (other than the
portion thereof made in respect of the One Seaport Plaza Companion Loan), (ii)
the aggregate amount of any Balloon Advance made by the Principal Primary
Servicer for such Distribution Date, (iii) the aggregate amount of any
Compensating Interest payments made by the Master Servicer for such Distribution
Date pursuant to the terms hereof, and (iv) if such Distribution Date occurs in
March of any year, commencing March 2003, the aggregate of the Interest Reserve
Amounts then held on deposit in the Interest Reserve Account in respect of each
Interest Reserve Loan.

            "BALLOON ADVANCE" means an advance of the Balloon Payment made by
the Principal Primary Servicer pursuant to Section 4.1(a) hereof. None of the
Master Servicer, Trustee, Fiscal Agent or any other Primary Servicer shall be
required to make a Balloon Advance.

            "BALLOON MORTGAGE LOAN" means a Mortgage Loan that provides for
Scheduled Payments based on an amortization schedule that is significantly
longer than its term to maturity and that is expected to have a remaining
principal balance equal to or greater than 7% of its original principal balance
as of its stated maturity date unless prepaid prior thereto.

            "BALLOON PAYMENT" means, with respect to any Balloon Mortgage Loan,
the Scheduled Payment payable on the Maturity Date of such Mortgage Loan.

            "BANKRUPTCY LOSS" means a loss arising from a proceeding under the
United States Bankruptcy Code or any other similar state law or other proceeding
with respect to the Mortgagor of, or Mortgaged Property under, a Mortgage Loan,
including, without limitation, any Deficient Valuation Amount or losses, if any,
resulting from any Debt Service Reduction Amount for the month in which the
related Remittance Date occurs.

            "BASE INTEREST FRACTION" means, with respect to any Principal
Prepayment of any Mortgage Loan that provides for payment of a Prepayment
Premium, and with respect to any Class of Certificates, a fraction (A) whose
numerator is the greater of (x) zero and (y) the difference between (i) the
Pass-Through Rate on that Class of Certificates and (ii) the Discount Rate used
in calculating the Prepayment Premium with respect to the Principal Prepayment
(or the current Discount Rate if not used in such calculation) and (B) whose
denominator is the difference between (i) the Mortgage Rate on the related
Mortgage Loan and (ii) the Discount Rate used in calculating the Prepayment
Premium with respect to that Principal Prepayment (or the current Discount Rate
if not used in such calculation), provided, however, that under no circumstances
will the Base Interest Fraction be greater than one. If the Discount Rate
referred to above is greater than the Mortgage Rate on the related Mortgage
Loan, then the Base Interest Fraction will equal zero.

            "BENEFIT PLAN OPINION" means an Opinion of Counsel satisfactory to
the Paying Agent and the Master Servicer to the effect that any proposed
transfer will not (i) cause the assets of any REMIC to be regarded as plan
assets for purposes of the Plan Asset Regulations or (ii) give rise to any
fiduciary duty on the part of the Depositor, the Master Servicer, the Special
Servicer, the Trustee, the Paying Agent, the Certificate Registrar or the Fiscal
Agent.

            "BOOK-ENTRY CERTIFICATES" means certificates evidencing a beneficial
interest in a Class of Certificates, ownership and transfer of which shall be
made through book entries as described in Section 3.7; provided that after the
occurrence of a condition whereupon book-entry registration and transfer are no
longer authorized and Definitive Certificates are to be issued to the
Certificate Owners, such certificates shall no longer be "Book-Entry
Certificates."

            "BUSINESS DAY" means any day other than (i) a Saturday or a Sunday,
(ii) a legal holiday in New York, New York, Des Moines, Iowa (but only with
respect to matters related to the performance of obligations of Principal
Capital Management, LLC as Primary Servicer under the related Primary Servicing
Agreement), Boston, Massachusetts (but only with respect to matters related to
the performance of obligations delegated to JHREF as Primary Servicer under the
related Primary Servicing Agreement) or the principal cities in which the
Special Servicer, the Trustee, the Paying Agent or the Master Servicer conducts
servicing or trust operations, or (iii) a day on which banking institutions or
savings associations in New York, New York are authorized or obligated by law or
executive order to be closed.

            "CASH LIQUIDATION" means, as to any Defaulted Mortgage Loan other
than a Mortgage Loan with respect to which the related Mortgaged Property became
REO Property, the sale of such Defaulted Mortgage Loan. The Master Servicer
shall maintain records in accordance with the Servicing Standard (and, in the
case of Specially Serviced Mortgage Loans, based on the written reports with
respect to such Cash Liquidation delivered by the Special Servicer to the Master
Servicer), of each Cash Liquidation.

            "CERCLA" means the Comprehensive Environmental Response,
Compensation and Liability Act of 1980, as amended (42 U.S.C. ss. 9601, et
seq.).

            "CERTIFICATE ACCOUNT" means one or more separate accounts
established and maintained by the Master Servicer (or any Sub-Servicer or
Primary Servicer on behalf of the Master Servicer) pursuant to Section 5.1(a),
each of which shall be an Eligible Account.

            "CERTIFICATE BALANCE" means, with respect to any Certificate or
Interest (other than the Class X Certificates and the Residual Certificates) as
of any Distribution Date, the maximum specified dollar amount of principal to
which the Holder thereof is then entitled hereunder, such amount being equal to
the initial principal amount set forth on the face of such Certificate (in the
case of a Certificate), or as ascribed thereto in the Preliminary Statement
hereto (in the case of an Interest), minus (i) the amount of all principal
distributions previously made with respect to such Certificate pursuant to
Section 6.5(a) or deemed to have been made with respect to such Interest
pursuant to Section 6.2(a) or Section 6.3(a), as the case may be, (ii) all
Realized Losses allocated or deemed to have been allocated to such Interest or
Certificate pursuant to Section 6.6, and (iii) Expense Losses allocated to such
Interest or Certificate pursuant to Section 6.6. The Certificate Balance of the
Class A-1A Component, the Class A-1B Component and the Class A-1C Component
shall equal the Certificate Balance of REMIC II Regular Interest A-1A, REMIC II
Regular Interest A-1B and REMIC II Regular Interest A-1C, respectively. The
Certificate Balance of the Class A-2A Component, the Class A-2B Component and
the Class A-2C Component shall equal the Certificate Balance of REMIC II Regular
Interest A-2A, REMIC II Regular Interest A-2B and REMIC II Regular Interest
A-2C, respectively. The Certificate Balance of the Class A-3A Component, the
Class A-3B Component and the Class A-3C Component shall equal the Certificate
Balance of REMIC II Regular Interest A-3A, REMIC II Regular Interest A-3B and
REMIC II Regular Interest A-3C, respectively. The Certificate Balance of the
Class C-1 Component and the Class C-2 Component shall equal the Certificate
Balance of REMIC II Regular Interest C-1 and REMIC II Regular Interest C-2,
respectively. The Certificate Balance of the Class E-1 Component and the Class
E-2 Component shall equal the Certificate Balance of REMIC II Regular Interest
E-1 and REMIC II Regular Interest E-2, respectively. The Certificate Balance of
the Class F-1 Component and the Class F-2 Component shall equal the Certificate
Balance of REMIC II Regular Interest F-1 and REMIC II Regular Interest F-2,
respectively. The Certificate Balance of the Class H-1 Component and the Class
H-2 Component shall equal the Certificate Balance of REMIC II Regular Interest
H-1 and REMIC II Regular Interest H-2, respectively.

            "CERTIFICATE OWNER" means, with respect to a Book-Entry Certificate,
the Person who is the beneficial owner of such Book-Entry Certificate, as may be
reflected on the books of the Clearing Agency, or on the books of a Person
maintaining an account with such Clearing Agency (directly or as an indirect
participant, in accordance with the rules of such Clearing Agency).

            "CERTIFICATE REGISTER" has the meaning provided in Section 3.2.

            "CERTIFICATE REGISTRAR" means the registrar appointed pursuant to
Section 3.2 and initially shall be the Paying Agent.

            "CERTIFICATEHOLDERS" has the meaning provided in the definition of
"Holder."

            "CERTIFICATES" means, collectively, the REMIC III Certificates, the
Class R-I Certificates, and the Class R-II Certificates.

            "CLASS" means, with respect to the REMIC I Interests, REMIC II
Interests or REMIC III Certificates, any Class of such Certificates or
Interests.

            "CLASS A CERTIFICATES" means the Class A-1 Certificates, the Class
A-2 Certificates, the Class A-3 Certificates and the Class A-4 Certificates,
collectively.

            "CLASS A-1 CERTIFICATES," "CLASS A-2 CERTIFICATES," "CLASS A-3
CERTIFICATES," "CLASS A-4 CERTIFICATES," "CLASS X-1 CERTIFICATES," "CLASS X-2
CERTIFICATES," "CLASS B CERTIFICATES," "CLASS C CERTIFICATES," "CLASS D
CERTIFICATES," "CLASS E CERTIFICATES," "CLASS F CERTIFICATES," "CLASS G
CERTIFICATES," "CLASS H CERTIFICATES," "CLASS J CERTIFICATES," "CLASS K
CERTIFICATES," "CLASS L CERTIFICATES," "CLASS M CERTIFICATES," "CLASS N
CERTIFICATES," "CLASS O CERTIFICATES," "CLASS R-I CERTIFICATES," "CLASS R-II
CERTIFICATES," or "CLASS R-III CERTIFICATES," mean the Certificates designated
as "Class A-1," "Class A-2," "Class A-3," "Class A-4," "Class X-1," "Class X-2,"
"Class B," "Class C," "Class D," "Class E," "Class F," "Class G," "Class H,"
"Class J," "Class K," "Class L," "Class M," "Class N," "Class O," "Class R-I,"
"Class R-II" and "Class R-III" respectively, on the face thereof, in
substantially the form attached hereto as Exhibits A-1 through A-21.

            "CLASS A-1A COMPONENT" means a component of the beneficial interest
in REMIC III evidenced by the Class A-1 Certificates, which component represents
a Certificate Balance equal to the Certificate Balance of the REMIC II Regular
Interest A-1A.

            "CLASS A-1B COMPONENT" means a component of the beneficial interest
in REMIC III evidenced by the Class A-1 Certificates, which component represents
a Certificate Balance equal to the Certificate Balance of the REMIC II Regular
Interest A-1B.

            "CLASS A-1C COMPONENT" means a component of the beneficial interest
in REMIC III evidenced by the Class A-1 Certificates, which component represents
a Certificate Balance equal to the Certificate Balance of the REMIC II Regular
Interest A-1C.

            "CLASS A-2A COMPONENT" means a component of the beneficial interest
in REMIC III evidenced by the Class A-2 Certificates, which component represents
a Certificate Balance equal to the Certificate Balance of the REMIC II Regular
Interest A-2A.

            "CLASS A-2B COMPONENT" means a component of the beneficial interest
in REMIC III evidenced by the Class A-2 Certificates, which component represents
a Certificate Balance equal to the Certificate Balance of the REMIC II Regular
Interest A-2B.

            "CLASS A-2C COMPONENT" means a component of the beneficial interest
in REMIC III evidenced by the Class A-2 Certificates, which component represents
a Certificate Balance equal to the Certificate Balance of the REMIC II Regular
Interest A-2C.

            "CLASS A-3A COMPONENT" means a component of the beneficial interest
in REMIC III evidenced by the Class A-3 Certificates, which component represents
a Certificate Balance equal to the Certificate Balance of the REMIC II Regular
Interest A-3A.

            "CLASS A-3B COMPONENT" means a component of the beneficial interest
in REMIC III evidenced by the Class A-3 Certificates, which represents a
Certificate Balance equal to the Certificate Balance of the REMIC II Regular
Interest A-3B.

            "CLASS A-3C COMPONENT" means a component of the beneficial interest
in REMIC III evidenced by the Class A-3 Certificates, which represents a
Certificate Balance equal to the Certificate Balance of the REMIC II Regular
Interest A-3C.

            "CLASS C-1 COMPONENT" means a component of the beneficial interest
in REMIC III evidenced by the Class C Certificates, which component represents a
Certificate Balance equal to the Certificate Balance of the REMIC II Regular
Interest C-1.

            "CLASS C-2 COMPONENT" means a component of the beneficial interest
in REMIC III evidenced by the Class C Certificates, which component represents a
Certificate Balance equal to the Certificate Balance of the REMIC II Regular
Interest C-2.

            "CLASS E-1 COMPONENT" means a component of the beneficial interest
in REMIC III evidenced by the Class E Certificates, which component represents a
Certificate Balance equal to the Certificate Balance of the REMIC II Regular
Interest E-1.

            "CLASS E-2 COMPONENT" means a component of the beneficial interest
in REMIC III evidenced by the Class E Certificates, which component represents a
Certificate Balance equal to the Certificate Balance of the REMIC II Regular
Interest E-2.

            "CLASS F-1 COMPONENT" means a component of the beneficial interest
in REMIC III evidenced by the Class F Certificates, which component represents a
Certificate Balance equal to the Certificate Balance of the REMIC II Regular
Interest F-1.

            "CLASS F-2 COMPONENT" means a component of the beneficial interest
in REMIC III evidenced by the Class F Certificates, which component represents a
Certificate Balance equal to the Certificate Balance of the REMIC II Regular
Interest F-2.

            "CLASS H-1 COMPONENT" means a component of the beneficial interest
in REMIC III evidenced by the Class H Certificates, which component represents a
Certificate Balance equal to the Certificate Balance of the REMIC II Regular
Interest H-1.

            "CLASS H-2 COMPONENT" means a component of the beneficial interest
in REMIC III evidenced by the Class H Certificates, which component represents a
Certificate Balance equal to the Certificate Balance of the REMIC II Regular
Interest H-2.

            "CLASS X CERTIFICATES" means the Class X-1 Certificates and the
Class X-2 Certificates.

            "CLASS X-1 INTEREST AMOUNT" means, with respect to any Distribution
Date and the related Interest Accrual Period, interest equal to the product of
(i) one-twelfth of a per annum rate equal to the weighted average of the Class
X-1 Strip Rates for the Class A-1A Component, Class A-1B Component, Class A-1C
Component, Class A-2A Component, Class A-2B Component, Class A-2C Component,
Class A-3A Component, Class A-3B Component, Class A-3C Component, Class A-4
Certificates, Class B Certificates, Class C-1 Component, Class C-2 Component,
Class D Certificates, Class E-1 Component, Class E-2 Component, Class F-1
Component, Class F-2 Component, Class G Certificates, Class H-1 Component, Class
H-2 Component, Class J Certificates, Class K Certificates, Class L Certificates,
Class M Certificates, Class N Certificates and Class O Certificates, weighted on
the basis of the respective Certificate Balances of such Classes of Certificates
or such Components immediately prior to giving effect to the related
distribution to be made on such Distribution Date and (ii) the Class X-1
Notional Amount for such Distribution Date immediately prior to giving effect to
the related distribution to be made on such Distribution Date.

            "CLASS X-1 NOTIONAL AMOUNT" means, with respect to any Distribution
Date, the aggregate of the Certificate Balances of the Principal Balance
Certificates as of the close of business on the preceding Distribution Date.

            "CLASS X-1 STRIP RATE" means, with respect to any Class of
Certificates (other than the Class A-1, Class A-2, Class A-3, Class C, Class E,
Class F, Class H, Class X and the Residual Certificates), the Class A-1A
Component, the Class A-1B Component, the Class A-1C Component, the Class A-2A
Component, the Class A-2B Component, the Class A-2C Component, the Class A-3A
Component, the Class A-3B Component, the Class A-3C Component, the Class C-1
Component, the Class C-2 Component, the Class E-1 Component, the Class E-2
Component, the Class F-1 Component, the Class F-2 Component, the Class H-1
Component and the Class H-2 Component:

            (A) for any Distribution Date occurring on or before June 2004, the
excess, if any, of (i) the Weighted Average REMIC I Net Mortgage Rate for such
Distribution Date over (ii) (x) in the case of the Class J Certificates, Class K
Certificates, Class L Certificates, Class M Certificates, Class N Certificates
and Class O Certificates and the Class A-1A Component, the Pass-Through Rate for
such Class of Certificates or such Component and (y) in the case of the Class
A-1B Component, Class A-1C Component, Class A-2A Component, Class A-2B
Component, Class A-2C Component, Class A-3A Component, Class A-3B Component,
Class A-3C Component, Class A-4 Certificates, Class B Certificates, Class C-1
Component, Class C-2 Component, Class D Certificates, Class E-1 Component, Class
E-2 Component, Class F-1 Component, Class F-2 Component, Class G Certificates,
Class H-1 Component and Class H-2 Component, the rate per annum corresponding to
such Distribution Date as set forth in Schedule IX attached hereto;

            (B) for any Distribution Date occurring after June 2004 and on or
before June 2005, the excess, if any, of (i) the Weighted Average REMIC I Net
Mortgage Rate for such Distribution Date over (ii) (x) in the case of the Class
J Certificates, Class K Certificates, Class L Certificates, Class M
Certificates, Class N Certificates and Class O Certificates and the Class A-1A
Component, Class A-1B Component and Class H-1 Component, the Pass-Through Rate
for such Class of Certificates or such Component and (y) in the case of Class
A-1C Component, Class A-2A Component, Class A-2B Component, Class A-2C
Component, Class A-3A Component, Class A-3B Component, Class A-3C Component,
Class A-4 Certificates, Class B Certificates, Class C-1 Component, Class C-2
Component, Class D Certificates, Class E-1 Component, Class E-2 Component, Class
F-1 Component, Class F-2 Component, Class G Certificates and Class H-2
Component, the rate per annum corresponding to such Distribution Date as set
forth on Schedule IX attached hereto;

            (C) for any Distribution Date occurring after June 2005 and on or
before June 2006, the excess, if any, of (i) the Weighted Average REMIC I Net
Mortgage Rate for such Distribution Date over (ii) (x) in the case of Class H
Certificates, Class J Certificates, Class K Certificates, Class L Certificates,
Class M Certificates, Class N Certificates and Class O Certificates and the
Class A-1A Component, Class A-1B Component, Class A-1C Component, Class A-2A
Component, Class F-1 Component, Class G-1 Component and Class G-2 Component, the
Pass-Through Rate for such Class of Certificates or such Component and (y) in
the case of the Class A-2B Component, Class A-2C Component, Class A-3A
Component, Class A-3B Component, Class A-3C Component, Class A-4 Certificates,
Class B Certificates, Class C-1 Component, Class C-2 Component, Class D
Certificates, Class E-1 Component, Class E-2 Component and Class F-2 Component,
the rate per annum corresponding to such Distribution Date as set forth on
Schedule IX attached hereto;

            (D) for any Distribution Date occurring after June 2006 and on or
before June 2007, the excess, if any, of (i) the Weighted Average REMIC I Net
Mortgage Rate for such Distribution Date over (ii) (x) in the case of Class G
Certificates, Class J Certificates, Class K Certificates, Class L Certificates,
Class M Certificates, Class N Certificates and Class O Certificates and the
Class A-1A Component, Class A-1B Component, Class A-1C Component, Class A-2A
Component, Class A-2B Component, Class E-1 Component, Class F-1 Component, Class
F-2 Component, Class H-1 Component and Class H-2 Component, the Pass-Through
Rate for such Class of Certificates or such Component and (y) in the case of the
Class A-2C Component, Class A-3A Component, Class A-3B Component, Class A-3C
Component, Class A-4 Certificates, Class B Certificates, Class C-1 Component,
Class C-2 Component, Class D Certificates and Class E-2 Component, the rate per
annum corresponding to such Distribution Date as set forth on Schedule IX
attached hereto;

            (E) for any Distribution Date occurring after June 2007 and on or
before June 2008, the excess, if any, of (i) the Weighted Average REMIC I Net
Mortgage Rate for such Distribution Date over (ii) (x) in the case of the Class
D Certificates, Class G Certificates, Class H Certificates, Class J
Certificates, Class K Certificates, Class L Certificates, Class M Certificates,
Class N Certificates and Class O Certificates and the Class A-1A Component,
Class A-1B Component, Class A-1C Component, Class A-2A Component, Class A-2B
Component, Class A-2C Component, Class A-3A Component, Class C-1 Component,
Class E-1 Component, Class E-2 Component, Class F-1 Component and Class F-2
Component, the Pass-Through Rate for such Class of Certificates or such
Component and (y) in the case of the Class A-3B Component, Class A-3C Component,
Class A-4 Certificates, Class B Certificates and Class C-3 Component, the rate
per annum corresponding to such Distribution Date as set forth on Schedule IX
attached hereto;

            (F) for any Distribution Date occurring after June 2008 and on or
before June 2009, the excess, if any, of (i) the Weighted Average REMIC I Net
Mortgage Rate for such Distribution Date over (ii) (x) in the case of Class G
Certificates, Class H Certificates, Class J Certificates, Class K Certificates,
Class L Certificates, Class M Certificates, Class N Certificates and Class O
Certificates and the Class A-1A Component, Class A-1B Component, Class A-1C
Component, Class A-2A Component, Class A-2B Component, Class A-2C Component,
Class A-3A Component, Class A-3B Component, Class C-1 Component, Class C-2
Component, Class D Certificates, Class E-1 Component, Class E-2 Component, Class
F-1 Component and Class F-2 Component, the Pass-Through Rate for such Class of
Certificates or such Component and (y) in the case of the Class A-3C Component,
Class A-4 Certificates, Class B Certificates, and Class C-2 Component, the rate
per annum corresponding to such Distribution Date as set forth on Schedule IX
attached hereto; and

            (G) for any Distribution Date occurring after June 2009, the excess
of (i) the Weighted Average REMIC I Net Mortgage Rate for such Distribution Date
over (ii) the Pass-Through Rate for each such Class of Certificates or
Component. In no event will any Class X-1 Strip Rate be less than zero.

            "CLASS X-2 INTEREST AMOUNT" means:

            (A) with respect to any Distribution Date occurring on or before
June 2004 and the related Interest Accrual Period, interest equal to the product
of (i) one-twelfth of a per annum rate equal to the weighted average of the
Class X-2 Strip Rates for the Class A-1B Component, Class A-1C Component, Class
A-2A Component, Class A-2B Component, Class A-2C Component, Class A-3A
Component, Class A-3B Component, Class A-3C Component, Class A-4 Certificates,
Class B Certificates, Class C-1 Component, Class C-2 Component, Class D
Certificates, Class E-1 Component, Class E-2 Component, Class F-1 Component,
Class F-2 Component, Class G Certificates, Class H-1 Component and Class H-2
Component, weighted on the basis of the respective Certificate Balances of such
Classes of Certificates or such Components immediately prior to such
Distribution Date and (ii) the Class X-2 Notional Amount for such Distribution
Date;

            (B) with respect to any Distribution Date occurring after June 2004
and on or before the Distribution Date in June 2005 and the related Interest
Accrual Period, interest equal to the product of (i) one-twelfth of a per annum
rate equal to the weighted average of the Class X-2 Strip Rates for the Class
A-1C Component, Class A-2A Component, Class A-2B Component, Class A-2C
Component, Class A-3A Component, Class A-3B Component, Class A-3C Component,
Class A-4 Certificates, Class B Certificates, Class C-1 Component, Class C-2
Component, Class D Certificates, Class E-1 Component, Class E-2 Component, Class
F-1 Component, Class F-2 Component, Class G Certificates and Class H-2
Component, weighted on the basis of the respective Certificate Balances of such
Classes of Certificates or such Component immediately prior to such Distribution
Date and (ii) the Class X-2 Notional Amount for such Distribution Date;

            (C) with respect to any Distribution Date occurring after June 2005
and on or before the Distribution Date in June 2006 and the related Interest
Accrual Period, interest equal to the product of (i) one-twelfth of a per annum
rate equal to the weighted average of the Class X-2 Strip Rates for the Class
A-2B Component, Class A-2C Component, Class A-3A Component, Class A-3B
Component, Class A-3C Component, Class A-4 Certificates, Class B Certificates,
Class C-1 Component, Class C-2 Component, Class D Certificates, Class E-1
Component, Class E-2 Component and Class G-2 Component, weighted on the basis of
the respective Certificate Balances of such Classes of Certificates or such
Component immediately prior to such Distribution Date and (ii) the Class X-2
Notional Amount for such Distribution Date;

            (D) with respect to any Distribution Date occurring after June 2006
and on or before the Distribution Date in June 2007 and the related Interest
Accrual Period, interest equal to the product of (i) one-twelfth of a per annum
rate equal to the weighted average of the Class X-2 Strip Rates for the Class
A-2C Component, Class A-3A Component, Class A-3B Component, Class A-3C
Component, Class A-4 Certificates, Class B Certificates, Class C-1 Component,
Class C-2 Component, Class D Certificates and Class E-2 Component, weighted on
the basis of the respective Certificate Balances of such Classes of Certificates
or such Component immediately prior to such Distribution Date and (ii) the Class
X-2 Notional Amount for such Distribution Date;

            (E) with respect to any Distribution Date occurring after June 2007
and on or before the Distribution Date in June 2008 and the related Interest
Accrual Period, interest equal to the product of (i) one-twelfth of a per annum
rate equal to the weighted average of the Class X-2 Strip Rates for the Class
A-3B Component, Class A-3C Component, Class A-4 Certificates, Class B
Certificates, Class C-1 Component and Class C-2 Component, weighted on the basis
of the respective Certificate Balances of such Classes of Certificates or such
Component immediately prior to such Distribution Date and (ii) the Class X-2
Notional Amount for such Distribution Date; and (F) with respect to any
Distribution Date occurring after June 2008 and on or before the Distribution
Date in June 2009 and the related Interest Accrual Period, interest equal to the
product of (i) one-twelfth of a per annum rate equal to the weighted average of
the Class A-3C Component, Class A-4 Certificates, Class B Certificates and Class
C-2 Component, weighted on the basis of the respective Certificate Balances of
such Classes of Certificates or such Component immediately prior to such
Distribution Date and (ii) the Class X-2 Notional Amount for such Distribution
Date.

            "CLASS X-2 NOTIONAL AMOUNT" means:

            (i) with respect to any Distribution Date occurring on or before the
Distribution Date in June 2004, the aggregate of the Certificate Balances of the
Class A-1B Component, Class A-1C Component, Class A-2A Component, Class A-2B
Component, Class A-2C Component, Class A-3A Component, Class A-3B Component,
Class A-3C Component, Class A-4 Certificates, Class B Certificates, Class C-1
Component, Class C-2 Component, Class D Certificates, Class E-1 Component, Class
E-2 Component, Class F-1 Component, Class F-2 Component, Class G Certificates,
Class H-1 Component and Class H-2 Component as of the close of business on the
preceding Distribution Date;

            (ii) with respect to any Distribution Date after the Distribution
Date in June 2004 and on or before the Distribution Date in June 2005, the
aggregate of the Certificate Balances of the Class A-1C Component, Class A-2A
Component, Class A-2B Component, Class A-2C Component, Class A-3A Component,
Class A-3B Component, Class A-3C Component, Class A-4 Certificates, Class B
Certificates, Class C-1 Component, Class C-2 Component, Class D Certificates,
Class E-1 Component, Class E-2 Component, Class F-1 Component, Class F-2
Component, Class G Certificates and Class H-2 Component as of the close of
business on the preceding Distribution Date;

            (iii) with respect to any Distribution Date after the Distribution
Date in June 2005 and on or before the Distribution Date in June 2006, the
aggregate of the Certificate Balances of the Class A-2B Component, Class A-2C
Component, Class A-3A Component, Class A-3B Component, Class A-3C Component,
Class A-4 Certificates, Class B Certificates, Class C-1 Component, Class C-2
Component, Class D Certificates, Class E-1 Component, Class E-2 Component and
Class F-2 Component as of the close of business on the preceding Distribution
Date;

            (iv) with respect to any Distribution Date after the Distribution
Date in June 2006 and on or before the Distribution Date in June 2007, the
aggregate of the Certificate Balances of the Class A-2C Component, Class A-3A
Component, Class A-3B Component, Class A-3C Component, Class A-4 Certificates,
Class B Certificates, Class C-1 Component, Class C-2 Component, Class D
Certificates and Class E-2 Component as of the close of business on the
preceding Distribution Date;

            (v) with respect to any Distribution Date after the Distribution
Date in June 2007 and on or before the Distribution Date in June 2008, the
aggregate of the Certificate Balances of the Class A-3B Component, Class A-3C
Component, Class A-4 Certificates, Class B Certificates, Class C-1 Component and
Class C-2 Component as of the close of business on the preceding Distribution
Date;

            (vi) with respect to any Distribution Date after the Distribution
Date in June 2008 and on or before the Distribution Date in June 2009, the
aggregate of the Certificate Balances of the Class A-3C Component, Class A-4
Certificates, Class B Certificates and Class C-2 Component as of the close of
business on the preceding Distribution Date; and

            (vii) with respect to any Distribution Date occurring after the
Distribution Date in June 2009, zero.

            "CLASS X-2 STRIP RATE" means:

            (A) for any Distribution Date occurring on or before June 2004, with
respect to the Class A-1B Component, Class A-1C Component, Class, Class A-2A
Component, Class A-2B Component, Class A-2C Component, Class A-3A Component,
Class A-3B Component, Class A-3C Component, Class A-4 Certificates, Class B
Certificates, Class C-1 Component, Class C-2 Component, Class D Certificates,
Class E-1 Component, Class E-2 Component, Class F-1 Component, Class F-2
Component, Class G Certificates, Class H-1 Component and Class H-2 Component,
the excess, if any, of (x) the lesser of (i) the rate per annum corresponding to
such Distribution Date as set forth in Schedule IX attached hereto and (ii) the
Weighted Average REMIC I Net Mortgage Rate for such Distribution Date over (y)
the Pass-Through Rate for such Class of Certificates or Component;

            (B) for any Distribution Date occurring after June 2004 and on or
before June 2005, with respect to the Class A-1C Component, Class A-2A
Component, Class A-2B Component, Class A-2C Component, Class A-3A Component,
Class A-3B Component, Class A-3C Component, Class A-4 Certificates, Class B
Certificates, Class C-1 Component, Class C-2 Component, Class D Certificates,
Class E-1 Component, Class E-2 Component, Class F-1 Component, Class F-2
Component, Class G Certificates and Class H-2 Component, the excess, if any, of
(x) the lesser of (i) the rate per annum corresponding to such Distribution Date
as set forth in Schedule IX attached hereto and (ii) the Weighted Average REMIC
I Net Mortgage Rate for such Distribution Date over (y) the Pass-Through Rate
for such Class of Certificates or Component;

            (C) for any Distribution Date occurring after June 2005 and on or
before June 2006, with respect to the Class A-2B Component, Class A-2C
Component, Class A-3A Component, Class A-3B Component, Class A-3C Component,
Class A-4 Certificates, Class B Certificates, Class C-1 Component, Class C-2
Component, Class D Certificates, Class E-1 Component, Class E-2 Component and
Class F-2 Component, the excess, if any, of (x) the lesser of (i) the rate per
annum corresponding to such Distribution Date as set forth in Schedule IX
attached hereto and (ii) the Weighted Average REMIC I Net Mortgage Rate for such
Distribution Date over (y) the Pass-Through Rate for such Class of Certificates
or Component;

            (D) for any Distribution Date occurring after June 2006 and on or
before June 2007, with respect to the Class A-3C Component, Class A-4
Certificates, Class B Certificates, Class C-1 Component, Class C-2 Component,
Class D Certificates and Class E-2 Component, the excess, if any, of (x) the
lesser of (i) the rate per annum corresponding to such Distribution Date as set
forth in Schedule IX attached hereto and (ii) the Weighted Average REMIC I Net
Mortgage Rate for such Distribution Date over (y) the Pass-Through Rate for such
Class of Certificates or Component;

            (E) for any Distribution Date occurring after June 2007 and on or
before June 2008, with respect to the Class A-3B Component, Class A-3C
Component, Class A-4 Certificates, Class B Certificates, Class C-1 Component and
Class C-2 Component, the excess, if any, of (x) the lesser of (i) the rate per
annum corresponding to such Distribution Date as set forth in Schedule IX
attached hereto and (ii) the Weighted Average REMIC I Net Mortgage Rate for such
Distribution Date over (y) the Pass-Through Rate for such Class of Certificates
or Component; and

            (F) for any Distribution Date occurring after June 2008 and on or
before June 2009, with respect to the Class A-3C Component, Class A-4
Certificates, Class B Certificates and Class C-2 Component, the excess, if any,
of (x) the lesser of (i) the rate per annum corresponding to such Distribution
Date as set forth in Schedule IX attached hereto and (ii) the Weighted Average
REMIC I Net Mortgage Rate for such Distribution Date over (y) the Pass-Through
Rate for such Class of Certificates or Component.

            For any Distribution Date occurring after June 2009, the Class X-2
Strip Rate for any Certificate or Component will be equal to zero.

            "CLEARING AGENCY" means an organization registered as a "clearing
agency" pursuant to Section 17A of the 1934 Act, which initially shall be the
Depository.

            "CLEARSTREAM" means Clearstream Banking, societe anonyme.

            "CLOSING DATE" means June 27, 2002.

            "CMSA" means the Commercial Mortgage Securities Association.

            "CMSA REPORTS" means the Restricted Servicer Reports and the
Unrestricted Servicer Reports, collectively, as modified, expanded or otherwise
changed from time to time. With respect to new reports created by the CMSA, the
Depositor shall direct the Trustee as to whether such new reports will be used
in this transaction and, if so, whether such reports will be Restricted Servicer
Reports or Unrestricted Servicer Reports. The Trustee shall provide the Master
Servicer with a copy of such direction within two Business Days after its
receipt.

            "CODE" means the Internal Revenue Code of 1986, as amended, any
successor statutes thereto, and applicable U.S. Department of Treasury
regulations issued pursuant thereto in temporary or final form and proposed
regulations thereunder, to the extent that, by reason of their proposed
effective date, such proposed regulations would apply to the Trust.

            "COLLECTION PERIOD" means, with respect to any Distribution Date,
the period beginning on the day after the Determination Date in the month
preceding the month of such Distribution Date (or in the case of the first
Distribution Date, the Cut-Off Date) and ending on the Determination Date in the
month in which the Distribution Date occurs.

            "COMPENSATING INTEREST" means with respect to any Distribution Date,
an amount equal to the excess of (A) Prepayment Interest Shortfalls incurred in
respect of the Mortgage Loans (other than the Specially Serviced Mortgage Loans
and any One Seaport Plaza Companion Loan) during the related Collection Period,
or, as applicable, from the prior Master Servicer Remittance Date through and
including two (2) Business Days prior to the Distribution Date, over (B)
Prepayment Interest Excesses incurred in respect of the Mortgage Loans (other
than the Specially Serviced Mortgage Loans and any One Seaport Plaza Companion
Loan) during the same related period, but in any event with respect to
Compensating Interest to be paid by the Master Servicer hereunder, not more than
the portion of the aggregate Master Servicing Fee accrued at a rate per annum
equal to 2 basis points for the related Distribution Date calculated in respect
of all the Mortgage Loans (including REO Mortgage Loans but not any One Seaport
Plaza Companion Loan).

            "COMPONENT" means any of the Class A-1A Component, the Class A-1B
Component, the Class A-1C Component, the Class A-2A Component, the Class A-2B
Component, the Class A-2C Component, the Class A-3A Component, the Class A-3B
Component, the Class A-3C Component, the Class C-1 Component, the Class C-2
Component, the Class C-3 Component, the Class E-1 Component, the Class E-2
Component, the Class F-1 Component, the Class F-2 Component, the Class H-1
Component or the Class H-2 Component.

            "CONDEMNATION PROCEEDS" means any awards resulting from the full or
partial condemnation or any eminent domain proceeding or any conveyance in lieu
or in anticipation thereof with respect to a Mortgaged Property by or to any
governmental, quasi-governmental authority or private entity with condemnation
powers other than amounts to be applied to the restoration, preservation or
repair of such Mortgaged Property or released to the related Mortgagor in
accordance with the terms of the Mortgage Loan and (if applicable) the One
Seaport Plaza Companion Loan and, with respect to the Mortgaged Property
securing the 2002-HQ Mortgage Loan and the Woodfield Pari Passu Loan, any
portion of such amounts payable to the holder of the Woodfield Pari Passu Loan.

            "CONTROLLING CLASS" means the most subordinate Class of REMIC
Regular Certificates outstanding at any time of determination; provided that, if
the aggregate Certificate Balance of such Class is less than 25% of the initial
Certificate Balance of such Class as of the Closing Date, the Controlling Class
shall be the next most subordinate Class of REMIC Regular Certificates
outstanding. As of the Closing Date, the Controlling Class will be the Class O
Certificates.

            "CONTROLLING PERSON" means, with respect to any Person, any other
Person who "controls" such Person within the meaning of the 1933 Act.

            "CORPORATE TRUST OFFICE" means, with respect to the presentment and
surrender of Certificates for the final distribution thereon or the presentment
and surrender of Certificates for any other purpose, the principal corporate
trust office of the Certificate Registrar. The principal corporate trust office
of the Trustee is presently located at 135 South LaSalle Street, Suite 1625,
Chicago, IL 60603, Attention: Asset-Backed Securities Trust Services
Group--Morgan Stanley Dean Witter Capital I Inc., Series 2002-IQ2, or at such
other address as the Trustee or Certificate Registrar may designate from time to
time by notice to the Certificateholders, the Depositor, the Master Servicer,
the Paying Agent and the Special Servicer.

            "CORRESPONDING REMIC I REGULAR INTEREST" means with respect to each
Mortgage Loan, the REMIC I Regular Interest having an initial Certificate
Balance equal to the Principal Balance of such Mortgage Loan outstanding as of
the Cut-Off Date, after taking into account all principal and interest payments
made or due prior to the Cut-Off Date.

            "CORRESPONDING REMIC II REGULAR INTEREST" means (i) with respect to
each Class of Certificates other than the Class A-1 Certificates, Class A-2
Certificates, Class A-3 Certificates, Class C Certificates, Class E
Certificates, Class F Certificates and Class H Certificates, the REMIC II
Regular Interest having the same letter designation, (ii) with respect to the
Class A-1 Certificates, REMIC II Regular Interest A-1A, REMIC II Regular
Interest A-1B and REMIC II Regular Interest A-1C, (iii) with respect to the
Class A-2 Certificates, the REMIC II Regular Interest A-2A, REMIC II Regular
Interest A-2B and REMIC II Regular Interest A-2C, (iv) with respect to the Class
A-3 Certificates, the REMIC II Regular Interest A-3A, REMIC II Regular Interest
A-3B and REMIC II Regular Interest A-3C, (v) with respect to the Class C
Certificates, the REMIC II Regular Interest C-1, REMIC II Regular Interest C-2
and REMIC II Regular Interest C-3, (vi) with respect to the Class E
Certificates, the REMIC II Regular Interest E-1 and REMIC II Regular Interest
E-2, (vii) with respect to the Class F Certificates, the REMIC II Regular
Interest F-1 and REMIC II Regular Interest F-2 and (vii) with respect to the
Class H Certificates, the REMIC II Regular Interest H-1 and REMIC II Regular
Interest H-2.

            "CROSS-COLLATERALIZED LOAN" has the meaning set forth in Section
2.3(a) hereof.

            "CUSTODIAN" means the Trustee or any Person who is appointed by the
Trustee at any time as custodian pursuant to Section 7.9 and who is unaffiliated
with the Depositor and each Seller and satisfies the eligibility requirements of
the Trustee as set forth in Section 7.5.

            "CUSTOMER" means a broker, dealer, bank, other financial institution
or other Person for whom the Clearing Agency effects book-entry transfers and
pledges of securities deposited with the Clearing Agency.

            "CUT-OFF DATE" means the end of business on June 1, 2002. The
Cut-Off Date for any Mortgage Loan that has a Due Date on a date other than the
first day of each month shall be the end of business on June 1, 2002, and
Scheduled Payments due in June 2002 with respect to Mortgage Loans not having
Due Dates on the first of each month have been deemed received on June 1, 2002,
not the actual day on which such Scheduled Payments were due.

            "DEBT SERVICE COVERAGE RATIO" means, with respect to any Mortgage
Loan, as of any date of determination, the ratio of (1) the annual, year-end net
cash flow of the related Mortgaged Property or Mortgaged Properties, determined
as provided in the NOI Adjustment Worksheet based on the most recent annual,
year-end operating statements provided by the Mortgagor (or if no annual,
year-end operating statements have been provided, based on such information
provided by the Mortgagor, including without limitation rent rolls and other
unaudited financial information, as the Master Servicer shall determine in
accordance with the Servicing Standard) to (2) the annualized amount of debt
service payable on that Mortgage Loan.

            "DEBT SERVICE REDUCTION AMOUNT" means, with respect to a Due Date
and the related Determination Date, the amount of the reduction of the Scheduled
Payment which a Mortgagor is obligated to pay on such Due Date with respect to a
Mortgage Loan or One Seaport Plaza Companion Loan as a result of any proceeding
under bankruptcy law or any similar proceeding (other than a Deficient Valuation
Amount); provided, however, that in the case of an amount that is deferred, but
not forgiven, such reduction shall include only the net present value
(calculated at the related Mortgage Rate) of the reduction.

            "DEFAULTED MORTGAGE LOAN" means a Mortgage Loan or the One Seaport
Plaza Companion Loan that is in default under the terms of the applicable
Mortgage Loan documentation and for which any applicable grace period has
expired.

            "DEFEASANCE COLLATERAL" means, with respect to any Defeasance Loan,
the United States Treasury obligations required to be pledged in lieu of
prepayment pursuant to the terms thereof.

            "DEFEASANCE LOAN" means any Mortgage Loan or One Seaport Plaza
Companion Loan which requires or permits the related Mortgagor (or permits the
holder of such Mortgage Loan or One Seaport Plaza Companion Loan to require the
related Mortgagor) to pledge Defeasance Collateral to such holder in lieu of
prepayment.

            "DEFICIENT VALUATION" means, with respect to any Mortgage Loan
(other than the One Seaport Plaza Pari Passu Loan) and the One Seaport Plaza
Loan Pair, a valuation by a court of competent jurisdiction of the Mortgaged
Property (or, with respect to the Mortgaged Property securing the Woodfield Pari
Passu Loan and the 2002-HQ Mortgage Loan, the pro rata portion of the valuation
allocable to the Woodfield Pari Passu Loan) relating to such Mortgage Loan or
the One Seaport Plaza Loan Pair in an amount less than the then outstanding
indebtedness under such Mortgage Loan or the One Seaport Plaza Loan Pair, which
valuation results from a proceeding initiated under the United States Bankruptcy
Code, as amended from time to time, and that reduces the amount the Mortgagor is
required to pay under such Mortgage Loan or the One Seaport Plaza Loan Pair.

            "DEFICIENT VALUATION AMOUNT" means (i) with respect to each Mortgage
Loan (other than the One Seaport Plaza Pari Passu Loan) and the One Seaport
Plaza Loan Pair, the amount by which the total amount due with respect to such
Mortgage Loan or the One Seaport Plaza Loan Pair (excluding interest not yet
accrued), including the Principal Balance of such Mortgage Loan or the One
Seaport Plaza Loan Pair plus any accrued and unpaid interest thereon and any
other amounts recoverable from the Mortgagor with respect thereto pursuant to
the terms thereof, is reduced in connection with a Deficient Valuation and (ii)
with respect to the One Seaport Plaza Pari Passu Loan, the portion of any
Deficient Valuation Amount for the One Seaport Plaza Loan Pair that is borne by
the holder of the One Seaport Plaza Pari Passu Loan, as applicable, under the
One Seaport Plaza Intercreditor Agreement.

            "DEFINITIVE CERTIFICATES" means Certificates of any Class issued in
definitive, fully registered, certificated form without interest coupons.

            "DELETED MORTGAGE LOAN" means a Mortgage Loan which is repurchased
from the Trust pursuant to the terms hereof or as to which one or more
Qualifying Substitute Mortgage Loans are substituted.

            "DEPOSITOR" means Morgan Stanley Dean Witter Capital I Inc., a
Delaware corporation, and its successors in interest.

            "DEPOSITORY" has the meaning set forth in Section 3.7(a).

            "DEPOSITORY AGREEMENT" means the Blanket Letter of Representations
dated the Closing Date and between the Depositor and the Depository.

            "DETERMINATION DATE" means, with respect to any Distribution Date,
the earlier of (i) the 10th day of the month in which such Distribution Date
occurs or, if such day is not a Business Day, the immediately preceding Business
Day, and (ii) the 5th Business Day prior to the related Distribution Date,
commencing July 8, 2002.

            "DIRECTLY OPERATE" means, with respect to any REO Property, the
furnishing or rendering of services to the tenants thereof, the management of
such REO Property, the holding of such REO Property primarily for sale to
customers (other than a sale of an REO Property pursuant to and in accordance
with Section 9.15) or the performance of any construction work thereon, in each
case other than through an Independent Contractor; provided, however, that the
Trustee (or the Special Servicer on behalf of the Trustee) shall not be
considered to Directly Operate an REO Property solely because the Trustee (or
the Special Servicer on behalf of the Trustee) establishes rental terms, chooses
tenants, enters into or renews leases, deals with taxes and insurance, or makes
decisions as to repairs, tenant improvements or capital expenditures with
respect to such REO Property (including, without limitation, construction
activity to effect repairs or in connection with leasing activity) or undertakes
any ministerial action incidental thereto.

            "DISCOUNT RATE" means the rate which, when compounded monthly, is
equivalent to the Treasury Rate when compounded semi-annually. The "Treasury
Rate," unless otherwise set forth in the Mortgage Loan documents, is the yield
calculated by the linear interpolation of the yields, as reported in Federal
Reserve Statistical Release H.15--Selected Interest Rates under the heading
"U.S. government securities/Treasury constant maturities" for the week ending
prior to the date of the relevant principal prepayment, of U.S. Treasury
constant maturities with a maturity date (one longer and one shorter) most
nearly approximating the maturity date of the Mortgage Loan prepaid. If Release
H.15 is no longer published, the Master Servicer will select a comparable
publication to determine the Treasury Rate.

            "DISQUALIFIED ORGANIZATION" means any of (i) the United States, any
State or any political subdivision thereof, or any agency or instrumentality of
any of the foregoing (other than an instrumentality which is a corporation if
all of its activities are subject to tax and, except for FHLMC, a majority of
its board of directors is not selected by any such governmental unit), (ii) a
foreign government, international organization or any agency or instrumentality
of either of the foregoing, (iii) an organization (except certain farmers'
cooperatives described in Section 521 of the Code) which is exempt from tax
imposed by Chapter 1 of the Code (unless such organization is subject to the tax
imposed by Section 511 of the Code on unrelated business taxable income), (iv)
rural electric and telephone cooperatives described in Section 1381 of the Code,
and (v) any other Person so designated by the Trustee based upon an Opinion of
Counsel that the holding of an ownership interest in a Residual Certificate by
such Person may cause any of the REMIC Pools, or any Person having an Ownership
Interest in any Class of Certificates, other than such Person, to incur a
liability for any federal tax imposed under the Code that would not otherwise be
imposed but for the transfer of an ownership interest in a Residual Certificate
to such Person. The terms "United States," "State" and "international
organization" shall have the meanings set forth in Section 7701 of the Code or
successor provisions.

            "DISTRIBUTABLE CERTIFICATE INTEREST" means, with respect to any
Distribution Date and any Class of Certificates (other than the Residual
Certificates) or Interests, the sum of (A) Accrued Certificate Interest in
respect of such Class or Interest, reduced (to not less than zero) by (i) any
Net Aggregate Prepayment Interest Shortfalls for such Class of Certificates or
Interests, allocated on such Distribution Date to such Class or Interest
pursuant to Section 6.7, and (ii) Realized Losses and Expense Losses allocated
on such Distribution Date to reduce the Distributable Certificate Interest
payable to such Class or Interest pursuant to Section 6.6, plus (B) the Unpaid
Interest.

            "DISTRIBUTION ACCOUNT" means the Distribution Account maintained by
the Paying Agent on behalf of the Trustee, in accordance with the provisions of
Section 5.3, which account shall be an Eligible Account.

            "DISTRIBUTION DATE" means the 15th day of each month or, if such day
is not a Business Day, the next succeeding Business Day, commencing July 15,
2002.

            "DUE DATE" means, with respect to a Mortgage Loan or One Seaport
Plaza Companion Loan, the date on which a Scheduled Payment is first due without
the application of grace periods.

            "ELIGIBLE ACCOUNT" means an account (or accounts) that is any of the
following: (i) maintained with a depository institution or trust company whose
(A) commercial paper, short-term unsecured debt obligations or other short-term
deposits are rated at least "A-1" by S&P and "F-1" by Fitch, if the deposits are
to be held in the account for 30 days or less), or (B) long-term unsecured debt
obligations are rated at least "AA" by Fitch and "AA-" (or "A" (without regard
to any plus or minus), if the short-term unsecured debt obligations are rated at
least "A-1") by S&P, if the deposits are to be held in the account more than 30
days or (ii) a segregated trust account or accounts maintained in the trust
department of the Trustee, the Paying Agent or other financial institution
having a combined capital and surplus of at least $50,000,000 and subject to
regulations regarding fiduciary funds on deposit similar to Title 12 of the Code
of Federal Regulations Section 9.10(b), or (iii) an account or accounts of a
depository institution acceptable to each Rating Agency, as evidenced by Rating
Agency Confirmation with respect to the use of any such account as the
Certificate Account or the Distribution Account. Notwithstanding anything in the
foregoing to the contrary, an account shall not fail to be an Eligible Account
solely because it is maintained with Wells Fargo Bank, National Association or
Wells Fargo Bank Iowa, N.A., each a wholly-owned subsidiary of Wells Fargo &
Co., provided that such subsidiary's or its parent's (A) commercial paper,
short-term unsecured debt obligations or other short-term deposits are at least
"F-1" in the case of Fitch, and "A-1" in the case of S&P, if the deposits are to
be held in the account for 30 days or less, or (B) long-term unsecured debt
obligations are rated at least "A+" in the case of Fitch (or its equivalent from
another rating agency) and "AA-" (or "A" (without regard to any plus or minus),
if the short-term unsecured debt obligations are rated at least "A-1") in the
case of S&P, if the deposits are to be held in the account for more than 30
days.

            "ELIGIBLE INVESTMENTS" means any one or more of the following
financial assets or other property:

            (i) direct obligations of, and obligations fully guaranteed as to
timely payment of principal and interest by, the United States of America, FNMA,
FHLMC or any agency or instrumentality of the United States of America the
obligations of which are backed by the full faith and credit of the United
States of America; provided that any obligation of FNMA or FHLMC, other than an
unsecured senior debt obligation of FNMA or FHLMC, shall be an Eligible
Investment only if Rating Agency Confirmation is obtained with respect to such
investment;

            (ii) demand or time deposits in, unsecured certificates of deposit
of, money market deposit accounts of, or bankers' acceptances issued by, any
depository institution or trust company (including the Trustee, the Master
Servicer, the Special Servicer, the Paying Agent or any Affiliate of the Master
Servicer, the Special Servicer, the Paying Agent or the Trustee, acting in its
commercial capacity) incorporated or organized under the laws of the United
States of America or any State thereof and subject to supervision and
examination by federal or state banking authorities, so long as the commercial
paper or other short-term debt obligations of such depository institution or
trust company are rated "F-1" by Fitch and "A-1+" by S&P or the long-term
unsecured debt obligations of such depository institution or trust company have
been assigned a rating by each Rating Agency at least equal "AA" by Fitch and
"AA-" by S&P or its equivalent or, in each case, if not rated by a Rating
Agency, then such Rating Agency has issued a Rating Agency Confirmation;

            (iii) repurchase agreements or obligations with respect to any
security described in clause (i) above where such security has a remaining
maturity of one year or less and where such repurchase obligation has been
entered into with a depository institution or trust company (acting as
principal) described in clause (ii) above and where such repurchase obligation
will mature prior to the Business Day preceding the next date upon which, as
described in this Agreement, such amounts are required to be withdrawn from the
Certificate Account and which meets the minimum rating requirement for such
entity described above (or for which Rating Agency Confirmation is obtained with
respect to such ratings);

            (iv) debt obligations (other than stripped bonds or stripped
coupons) bearing interest or sold at a discount issued by any corporation
incorporated under the laws of the United States of America or any state
thereof, which securities are rated "AA-" or its equivalent by each Rating
Agency, unless otherwise specified in writing by the Rating Agency; provided
that securities issued by any particular corporation will not be Eligible
Investments to the extent that investment therein will cause the
then-outstanding principal amount of securities issued by such corporation and
held in the Certificate Account to exceed 5% of the sum of the aggregate
Certificate Principal Balance of the Principal Balance Certificates and the
aggregate principal amount of all Eligible Investments in the Certificate
Account;

            (v) commercial paper (including both non-interest-bearing discount
obligations and interest-bearing obligations payable on demand or on a specified
date not more than one year after the date of issuance thereof) rated "F-1+" by
Fitch and "A-1+" by S&P (or for which Rating Agency Confirmation is obtained
with respect to such ratings);

            (vi) units of investment funds (including money market funds) rated
in the highest long-term category by Fitch (or if not rated by Fitch then Fitch
has issued a Rating Agency Confirmation), and the highest long-term category by
S&P (or if not rated by S&P then S&P has issued a Rating Agency Confirmation);

            (vii) guaranteed reinvestment agreements maturing within 365 days or
less issued by any bank, insurance company or other corporation whose long-term
unsecured debt rating is not less than "AA" (or its equivalent rating) by Fitch
and "AA-" by S&P (if rated by Fitch or, if not rated by Fitch, by S&P and
another nationally recognized statistical rating organization), or for which
Rating Agency Confirmation is obtained with respect to such ratings; provided
that, with respect to S&P, such agreements state that funds may be withdrawn at
par without penalty.

            (viii) any money market funds (including any money market funds for
which the Trustee or an affiliate acts as an adviser) that maintain a constant
asset value and that are rated "AAAm" or "AAAmg" (or its equivalent rating) by
S&P and "AAAm" (or its equivalent) by Fitch, and any other demand, money-market
or time deposit, or any other obligation, security or investment, with respect
to which Rating Agency Confirmation has been obtained; and

            (ix) such other investments bearing interest or sold at a discount,
earning a return "in the nature of interest" within the meaning of Treasury
Regulation Section 1.860G-2(g)(1)(i) (as evidenced by an Opinion of Counsel
delivered to the Trustee and the Paying Agent by the Master Servicer at the
Master Servicer's expense), as are acceptable to the Rating Agencies (as
evidenced by Rating Agency Confirmation) and treated as "permitted investments"
that are "cash flow investments" under Code Section 860G(a)(5);

provided (A) such investment is held for a temporary period pursuant to Section
1.860G-2(g)(i) of the Treasury Regulations, (B) such investment is payable by
the obligor in U.S. dollars, and (C) that no such instrument shall be an
Eligible Investment (1) if such instrument evidences either (a) a right to
receive only interest payments or only principal payments with respect to the
obligations underlying such instrument or (b) a right to receive both principal
and interest payments derived from obligations underlying such instrument and
the principal and interest payments with respect to such instrument provide a
yield to maturity of greater than 120% of the yield to maturity at par of such
underlying obligations, or (2) if it may be redeemed at a price below the
purchase price or (3) if it is not treated as a "permitted investment" that is a
"cash flow investment" under Code Section 860G(a)(5); and provided, further,
that any such instrument shall have a maturity date no later than the date such
instrument is required to be used to satisfy the obligations under this
Agreement, and, in any event, shall not have a maturity in excess of one year;
any such instrument must have a predetermined fixed dollar of principal due at
maturity that cannot vary or change; if rated, the obligation must not have an
"r" highlighter affixed to its rating; interest on any variable rate instrument
shall be tied to a single interest rate index plus a single fixed spread (if
any) and move proportionally with that index; and provided, further, that no
amount beneficially owned by any REMIC Pool (including any amounts collected by
the Master Servicer but not yet deposited in the Certificate Account) may be
invested in investments treated as equity interests for Federal income tax
purposes. No Eligible Investments shall be purchased at a price in excess of
par. For the purpose of this definition, units of investment funds (including
money market funds) shall be deemed to mature daily.

            "ENVIRONMENTAL INSURANCE POLICY" shall mean, with respect to any
Mortgage Loan or the related Mortgaged Property or REO Property, any insurance
policy covering pollution conditions and/or other environmental conditions that
is maintained from time to time in respect of such Mortgage Loan, Mortgaged
Property or REO Property, as the case may be, for the benefit of, among others,
the Trustee on behalf of the Certificateholders.

            "ENVIRONMENTAL LAWS" means any and all federal, state and local
statutes, laws, regulations, ordinances, rules, judgments, orders, decrees,
permits, concessions, grants, franchises, licenses, agreements or other
governmental restrictions, now or hereafter in effect, relating to health or the
environment or to emissions, discharges or releases of chemical substances,
including, without limitation, any and all pollutants, contaminants, petroleum
or petroleum products, asbestos or asbestos-containing materials,
polychlorinated biphenyls, urea-formaldehyde insulation, radon, industrial,
toxic or hazardous substances or wastes, into the environment, including,
without limitation, ambient air, surface water, ground water or land, or
otherwise relating to the manufacture, processing, distribution, use, labeling,
registration, treatment, storage, disposal, transport or handling of any of the
foregoing substances or wastes or the clean-up or other remediation thereof.

            "ERISA" means the Employee Retirement Income Security Act of 1974,
as amended.

            "ESCROW ACCOUNT" means an account established by or on behalf of the
Master Servicer pursuant to Section 8.3(e).

            "ESCROW AMOUNT" means any amount payable with respect to a Mortgage
Loan for taxes, assessments, water rates, Standard Hazard Insurance Policy
premiums, ground lease payments, reserves for capital improvements, deferred
maintenance, repairs, tenant improvements, leasing commissions, rental
achievements, environmental matters and other reserves or comparable items.

            "EVENT OF DEFAULT" has the meaning set forth in Section 8.28(b).

            "EXCESS LIQUIDATION PROCEEDS" means, with respect to any Mortgage
Loan, the excess of (i) Liquidation Proceeds of a Mortgage Loan or related REO
Property, over (ii) the amount that would have been received if a Principal
Prepayment in full had been made with respect to such Mortgage Loan (or, in the
case of an REO Property related to the One Seaport Plaza Loan Pair, a Principal
Prepayment in full had been made with respect to both the One Seaport Plaza Pari
Passu Loan and the One Seaport Plaza Companion Loan) on the date such proceeds
were received.

            "EXCESS SERVICING FEE" means, with respect to the Mortgage Loans for
which an "excess servicing fee rate" is designated on the Mortgage Loan
Schedule, the monthly fee payable to the Master Servicer, Principal Capital
Management, LLC and JHREF or its successors and assigns, as holder of excess
servicing rights, which fee shall accrue on the Scheduled Principal Balance of
each such Mortgage Loan immediately prior to the Due Date occurring in each
month at the per annum rate (determined in the same manner as the applicable
Mortgage Rate for such Mortgage Loan is determined for such month) specified on
the Mortgage Loan Schedule (the "Excess Servicing Fee Rate"). Each holder of
excess servicing rights is entitled to Excess Servicing Fees only with respect
to the Mortgage Loans as indicated on Exhibit J hereto.

            "EXCHANGE CERTIFICATION" means an Exchange Certification
substantially in the form set forth in Exhibit H hereto executed by a holder of
an interest in a Regulation S Global Certificate or a Rule 144A-IAI Global
Certificate, as applicable.

            "EXPENSE LOSS" means a loss realized upon payment by the Trust of an
Additional Trust Expense.

            "EXTENSION" has the meaning set forth in Section 9.15(a).

            "FDIC" means the Federal Deposit Insurance Corporation or any
successor thereto.

            "FHLMC" means the Federal Home Loan Mortgage Corporation, or any
successor thereto.

            "FHLMC AUDIT PROGRAM" has the meaning set forth in Section 8.13.

            "FINAL CERTIFICATION" has the meaning set forth in Section 2.2.

            "FINAL PROSPECTUS SUPPLEMENT" has the meaning set forth in the
Preliminary Statement hereto.

            "FINAL RATED DISTRIBUTION DATE" means with respect to each rated
Class of Certificates, the Distribution Date in December 2035.

            "FINAL RECOVERY DETERMINATION" means a determination with respect
to: (i) any Mortgage Loan or One Seaport Plaza Companion Loan other than a
Specially Serviced Mortgage Loan, by the Master Servicer in consultation with
the Special Servicer and (ii) with respect to any Specially Serviced Loan
(including a Mortgage Loan or One Seaport Plaza Companion Loan that became an
REO Property) by the Special Servicer, in each case, in its good faith
discretion, consistent with the Servicing Standard, that all Insurance Proceeds,
Condemnation Proceeds, Liquidation Proceeds, Purchase Proceeds and other
payments or recoveries which the Master Servicer or the Special Servicer, as the
case may be, expects to be finally recoverable on such Mortgage Loan or One
Seaport Plaza Companion Loan, without regard to any obligation of the Master
Servicer, the Trustee or the Fiscal Agent, as the case may be, to make payments
from its own funds pursuant to Article IV hereof, have been recovered. The
Special Servicer shall be required to provide the Master Servicer with prompt
written notice of any Final Recovery Determination with respect to any Specially
Serviced Mortgage Loan or REO Mortgage Loan upon making such determination. The
Master Servicer shall notify the Trustee and the Paying Agent of such
determination and the Paying Agent shall deliver a copy of such notice to each
Rating Agency.

            "FINAL SCHEDULED DISTRIBUTION DATE" means, for each Class of rated
Certificates, the Distribution Date on which such Class would be paid in full if
payments were made on the Mortgage Loans in accordance with their terms.

            "FINANCIAL MARKET PUBLISHER" means each of Bloomberg Financial
Service, Trepp Financial and Intex Inc.

            "FISCAL AGENT" means ABN AMRO Bank N.V., a foreign banking
organization organized under the laws of the Netherlands and its permitted
successors and assigns.

            "FISCAL AGENT TERMINATION EVENT" has the meaning set forth in
Section 4.7 hereof.

            "FITCH" means Fitch Ratings or its successor in interest.

            "FNMA" means the Federal National Mortgage Association, or any
successor thereto.

            "GLOBAL CERTIFICATE" means any Rule 144A-IAI Global Certificate,
Regulation S Temporary Global Certificate or Regulation S Permanent Global
Certificate.

            "HOLDER" means the Person in whose name a Certificate is registered
on the Certificate Register.

            "IAI DEFINITIVE CERTIFICATE" means, with respect to any Class of
Certificate sold to Institutional Accredited Investors who are not Qualified
Institutional Buyers, a Certificate in definitive, fully registered certificated
form without interest coupons.

            "INDEPENDENT" means, when used with respect to any Accountants, a
Person who is "independent" within the meaning of Rule 2-01(B) of the Securities
and Exchange Commission's Regulation S-X. Independent means, when used with
respect to any other Person, a Person who (A) is in fact independent of another
specified Person and any Affiliate of such other Person, (B) does not have any
material direct or indirect financial interest in such other Person or any
Affiliate of such other Person, (C) is not connected with such other Person or
any Affiliate of such other Person as an officer, employee, promoter,
underwriter, trustee, partner, director or Person performing similar functions
and (D) is not a member of the immediate family of a Person defined in clause
(B) or (C) above.

            "INDEPENDENT CONTRACTOR" means, either (i) with respect to any
Mortgage Loan (A) that is not a Specially Serviced Mortgage Loan, any Person
designated by the Master Servicer (other than the Master Servicer, but which may
be an Affiliate of the Master Servicer), or (B) that is a Specially Serviced
Mortgage Loan, any Person designated by the Special Servicer that would be an
"independent contractor" with respect to a REMIC Pool within the meaning of
Section 856(d)(3) of the Code if such REMIC Pool were a real estate investment
trust (except that the ownership test set forth in such Section shall be
considered to be met by any Person that owns, directly or indirectly, 35% or
more of the Aggregate Certificate Balance or Notional Amount, as the case may
be, of any Class of the Certificates (other than the Residual Certificates), a
Percentage Interest of 35% or more in the Residual Certificates or such other
interest in any Class of the Certificates or of the applicable REMIC Pool as is
set forth in an Opinion of Counsel, which shall be at no expense to the Trustee
or the Trust) so long as such REMIC Pool does not receive or derive any income
from such Person and provided that the relationship between such Person and such
REMIC is at arm's length, all within the meaning of Treasury Regulations Section
1.856-4(b)(5), or (ii) any other Person (including the Master Servicer or the
Special Servicer) upon receipt by the Trustee of an Opinion of Counsel, which
shall be at the expense of the Person delivering such opinion to the Trustee, to
the effect that the taking of any action in respect of any REO Property by such
Person, subject to any conditions therein specified, that is otherwise herein
contemplated to be taken by an Independent Contractor will not cause such REO
Property to cease to qualify as "foreclosure property" within the meaning of
Section 860G(a)(8) of the Code (determined without regard to the exception
applicable for purposes of Section 860D(a) of the Code), or cause any income
realized in respect of such REO Property to fail to qualify as Rents from Real
Property.

            "INITIAL CERTIFICATION" has the meaning set forth in Section 2.2.

            "INITIAL DEPOSIT" means the amount of all collections made on the
Mortgage Loans from the Cut-Off Date to and excluding the Closing Date.

            "INSPECTION REPORT" means the report delivered by the Master
Servicer or the Special Servicer, as the case may be, substantially in the form
of Exhibit L hereto.

            "INSTITUTIONAL ACCREDITED INVESTOR" means an institutional
accredited investor qualifying pursuant to Rule 501(a)(1), (2), (3) or (7) of
Regulation D of the 1933 Act.

            "INSURED ENVIRONMENTAL EVENT" has the meaning set forth in Section
9.1(f).

            "INSURANCE POLICIES" means, collectively, any Standard Hazard
Insurance Policy, flood insurance policy, title insurance policy or
Environmental Insurance Policy relating to the Mortgage Loans or the Mortgaged
Properties in effect as of the Closing Date or thereafter during the term of
this Agreement.

            "INSURANCE PROCEEDS" means amounts paid by the insurer under any
Insurance Policy, other than amounts required to be paid over to the Mortgagor
(or used to restore the related Mortgaged Property) pursuant to law, the related
Mortgage Loan, the One Seaport Plaza Companion Loan or the Servicing Standard
and with respect to the Mortgaged Property securing the 2002-HQ Mortgage Loan
and the Woodfield Pari Passu Loan, any portion of such amounts payable to the
holder of the Woodfield Pari Passu Loan.

            "INTEREST" means a REMIC I Interest or a REMIC II Interest, as
applicable.

            "INTEREST ACCRUAL PERIOD" means, for any Distribution Date, with
respect to all Classes of Certificates and Interests (other than the Residual
Certificates), the period beginning on the first day of the month preceding the
month in which such Distribution Date occurs and ending on the last day of the
month preceding the month in which such Distribution Date occurs.

            "INTEREST RESERVE ACCOUNT" means that Interest Reserve Account
maintained by the Master Servicer pursuant to Section 5.1(a), which account
shall be an Eligible Account.

            "INTEREST RESERVE AMOUNT" has the meaning set forth in Section
5.1(d).

            "INTEREST RESERVE LOANS" shall mean the Mortgage Loans which bear
interest other than on the basis of a 360-day year consisting of twelve (12)
30-day months.

            "INTERESTED PERSON" means, as of any date of determination, the
Master Servicer, the Special Servicer, the Depositor, the holder of any related
Junior Indebtedness (with respect to any particular Mortgage Loan), a holder of
50% or more of the Controlling Class, the Operating Adviser, any Independent
Contractor engaged by the Master Servicer or the Special Servicer pursuant to
this Agreement, or any Person actually known to a Responsible Officer of the
Trustee to be an Affiliate of any of them.

            "JHREF" has the meaning assigned in the Preliminary Statement
hereto.

            "JHREF LOANS" means, collectively, those Mortgage Loans sold to the
Depositor pursuant to the Mortgage Loan Purchase Agreement I and shown on
Schedule I hereto.

            "JUNIOR INDEBTEDNESS" means any indebtedness of any Mortgagor that
is secured by a lien that is junior in right of payment to the lien of the
Mortgage securing the related Mortgage Note.

            "LATE COLLECTIONS" means, with respect to any Mortgage Loan or One
Seaport Plaza Companion Loan, all amounts received during any Collection Period,
whether as late payments or as Liquidation Proceeds, Insurance Proceeds,
Condemnation Proceeds, Purchase Proceeds or otherwise, that represent payments
or collections of Scheduled Payments due but delinquent for a previous
Collection Period and not previously recovered.

            "LATE FEES" means a fee payable to the Master Servicer or the
Special Servicer, as the case may be, to the extent actually collected from the
Mortgagor as provided in the related Mortgage Loan or One Seaport Plaza
Companion Loan in connection with a late payment made by such Mortgagor.

            "LEAD ONE SEAPORT PLAZA COMPANION LOAN" shall mean the One Seaport
Plaza Companion Loan with an original Principal Balance of $65,000,000.

            "LIQUIDATION EXPENSES" means reasonable and direct expenses incurred
by the Special Servicer on behalf of the Trust in connection with the
enforcement and liquidation of any Specially Serviced Mortgage Loan or REO
Property acquired in respect thereof including, without limitation, reasonable
legal fees and expenses, appraisal fees, committee or referee fees, property
manager fees, and, if applicable, brokerage commissions and conveyance taxes for
such Specially Serviced Mortgage Loan. All Liquidation Expenses relating to
enforcement and disposition of the Specially Serviced Mortgage Loan shall be (i)
paid out of income from the related REO Property, to the extent available or
(ii) advanced by the Master Servicer, subject to Section 4.4 and Section 4.6(e)
hereof, as a Servicing Advance.

            "LIQUIDATION FEE" means a fee equal to the product of (x) 1.0% and
(y) the proceeds (net of related costs and expenses associated with such
liquidation) received in connection with full or partial liquidation of a
Specially Serviced Mortgage Loan or related REO Property and any Condemnation
Proceeds received by the Trust (other than Liquidation Proceeds received in
connection with the Woodfield Pari Passu Loan); provided, however, that in the
case of a final disposition consisting of the repurchase of a Mortgage Loan or
REO Property by a Seller pursuant to Section 2.3, such fee will only be paid by
such Seller if repurchased after the date that is 180 days or more after the
applicable Seller receives notice of the breach or defect causing the
repurchase.

            "LIQUIDATION PROCEEDS" means (i) with respect to the sale or
liquidation of a Mortgage Loan or One Seaport Plaza Companion Loan or related
REO Property (other than pursuant to Section 2.3), the proceeds of such sale or
liquidation net of Liquidation Expenses and any related Advances and interest
thereon (to the extent not otherwise paid pursuant to Section 4.6(c)) (and with
respect to the sale or liquidation of any REO Property related to the 2002-HQ
Mortgage Loan and the Woodfield Pari Passu Loan, any portion of such amounts
allocable to the Woodfield Pari Passu Loan) and (ii) with respect to the
repurchase of a Mortgage Loan or an REO Mortgage Loan pursuant to Section 2.3,
the Purchase Price of such Mortgage Loan or REO Mortgage Loan at the time of
such repurchase.

            "LIQUIDATION REALIZED LOSS" means, with respect to each Mortgage
Loan or REO Property, as the case may be, as to which a Cash Liquidation or REO
Disposition has occurred, an amount equal to the sum, without duplication, of
(A) the Principal Balance of the Mortgage Loan (or deemed Principal Balance, in
the case of an REO Mortgage Loan) as of the date of the Cash Liquidation or REO
Disposition, plus (B) unpaid interest and interest accrued thereon at the
applicable Mortgage Rate, plus (C) any expenses incurred in connection with such
Mortgage Loan that are reimbursable to any Person, other than amounts previously
treated as Expense Losses or included in the definition of Liquidation Expenses
minus the sum of (i) REO Income applied as recoveries of principal or interest
on the related Mortgage Loan or REO Property, and (ii) Liquidation Proceeds,
Late Collections and all other amounts received from the related Mortgagor and
received during the Collection Period in which such Cash Liquidation or REO
Disposition occurred and which are not required under the One Seaport Plaza
Intercreditor Agreement to be payable or reimbursable to any holder of a One
Seaport Plaza Companion Loan. REO Income and Liquidation Proceeds shall be
applied first against any Expense Losses (to the extent not included in the
definition of Liquidation Expenses) for such Mortgage Loan, the unpaid interest
on the Mortgage Loan, calculated as described in clause (B) above, and then
against the Principal Balance of such Mortgage Loan, calculated as described in
clause (A) above.

            "LOAN PERIODIC UPDATE FILE" means the CMSA Report prepared by the
Master Servicer and such other information regarding the Mortgage Loans as will
permit the Paying Agent to calculate the amounts to be distributed to the
Certificateholders pursuant to this Agreement and to furnish the Monthly
Certificateholders Report to Certificateholders required to be delivered
hereunder and containing such additional information as the Master Servicer, the
Paying Agent and the Depositor may from time to time mutually agree.

            "LOAN-TO-VALUE RATIO" means, as of any date with respect to a
Mortgage Loan, the fraction, expressed as a percentage, the numerator of which
is the Principal Balance of such Mortgage Loan at the date of determination and
the denominator of which is the value of the Mortgaged Property as shown on the
most recent Appraisal or valuation of the Mortgaged Property which is available
as of such date.

            "LOCK-BOX ACCOUNT" has the meaning set forth in Section 8.3(g).

            "LOCK-BOX AGREEMENT" means, with respect to any Mortgage Loan, any
lock-box agreement relating to such Mortgage Loan among the related Mortgagor, a
depositary institution and the Master Servicer (or a Primary Servicer or
Sub-Servicer on its behalf) pursuant to which a Lock-Box Account is created.

            "LOSSES" has the meaning set forth in Section 12.4.

            "MAI" means Member of the Appraisal Institute.

            "MASTER SERVICER" means ORIX Capital Markets, LLC and its permitted
successors or assigns.

            "MASTER SERVICER CONSENT MATTER" has the meaning set forth in
Section 8.3(a).

            "MASTER SERVICER REMITTANCE DATE" means, for each Distribution Date,
the Business Day immediately preceding such Distribution Date.

            "MASTER SERVICING FEE" means for each calendar month, as to each
Mortgage Loan and One Seaport Plaza Companion Loan, but not as to the Woodfield
Pari Passu Loan (as to which there is no Master Servicing Fee payable to the
Master Servicer), an amount equal to the Master Servicing Fee Rate applicable to
such month (determined in the same manner (other than the rate of accrual) as
the applicable Mortgage Rate is determined for such Mortgage Loan or One Seaport
Plaza Companion Loan for such month) multiplied by the Scheduled Principal
Balance of such Mortgage Loan or One Seaport Plaza Companion Loan immediately
before the Due Date occurring in such month, subject to reduction in respect of
Compensating Interest, as set forth in Section 8.10(c).

            "MASTER SERVICING FEE RATE" means, with respect to each Mortgage
Loan and any One Seaport Plaza Companion Loan, the rate per annum specified as
such on the Mortgage Loan Schedule. With respect to the Woodfield Pari Passu
Loan, no Master Servicing Fee Rate is charged by the Master Servicer, but the
Woodfield Pari Passu Loan Servicing Fee Rate is charged pursuant to the 2002-HQ
Pooling and Servicing Agreement.

            "MATERIAL BREACH" has the meaning set forth in Section 2.3(a).

            "MATERIAL DOCUMENT DEFECT" has the meaning set forth in Section
2.3(a).

            "MATURITY DATE" means, with respect to any Mortgage Loan or One
Seaport Plaza Companion Loan as of any date of determination, the date on which
the last payment of principal is due and payable under the related Mortgage Loan
or One Seaport Plaza Companion Loan, after taking into account all Principal
Prepayments received and any Deficient Valuation, Debt Service Reduction Amount
or modification of the Mortgage Loan or One Seaport Plaza Companion Loan
occurring prior to such date of determination, but without giving effect to (i)
any acceleration of the principal of such Mortgage Loan or One Seaport Plaza
Companion Loan or (ii) any grace period permitted by the related Mortgage Loan
or One Seaport Plaza Companion Loan.

            "MODIFICATION FEE" means a fee, if any, collected from a Mortgagor
by the Master Servicer in connection with a modification of any Mortgage Loan or
One Seaport Plaza Companion Loan other than a Specially Serviced Mortgage Loan
or collected by the Special Servicer in connection with the modification of a
Specially Serviced Mortgage Loan.

            "MODIFICATION LOSS" means, with respect to each Mortgage Loan, (i) a
decrease in the Principal Balance of such Mortgage Loan as a result of a
modification thereof in accordance with the terms hereof, (ii) any expenses
connected with such modification, to the extent (x) reimbursable to the Trustee,
the Special Servicer or the Master Servicer and (y) not recovered from the
Mortgagor or (iii) in the case of a modification of such Mortgage Loan that
reduces the Mortgage Rate thereof, the excess, on each Due Date, of the amount
of interest that would have accrued at a rate equal to the original Mortgage
Rate, over interest that actually accrued on such Mortgage Loan during the
preceding Collection Period.

            "MONEY TERM" means with respect to any Mortgage Loan or One Seaport
Plaza Companion Loan, the Maturity Date, Mortgage Rate, Principal Balance,
amortization term or payment frequency thereof or any provision thereof
requiring the payment of a prepayment premium, yield maintenance payment or
percentage premium in connection with a principal prepayment (and shall not
include late fees or default interest provisions).

            "MONTHLY CERTIFICATEHOLDERS REPORT" means a report provided pursuant
to Section 5.4 by the Paying Agent monthly as of the related Determination Date
generally in the form and substance of Exhibit M, which sets forth, to the
extent applicable: (i) the amount, if any, of such distributions to the holders
of each Class of Principal Balance Certificates applied to reduce the respective
Certificate Balances thereof; (ii) the amount of such distribution to holders of
each Class of Certificates allocable to (A) interest accrued at the respective
Pass-Through Rates, less any Net Aggregate Prepayment Interest Shortfalls and
(B) Prepayment Premiums; (iii) the number of outstanding Mortgage Loans and the
aggregate Principal Balance and Scheduled Principal Balance of the Mortgage
Loans at the close of business on such Determination Date; (iv) the number and
aggregate Scheduled Principal Balance of Mortgage Loans (A) delinquent 30-59
days, (B) delinquent 60-89 days, (C) delinquent 90 or more days, (D) as to which
foreclosure proceedings have been commenced, or (E) as to which bankruptcy
proceedings have been commenced; (v) with respect to any REO Property included
in the Trust, the Principal Balance of the related Mortgage Loan as of the date
of acquisition of the REO Property and the Scheduled Principal Balance thereof;
(vi) as of the related Determination Date (A) as to any REO Property sold during
the related Collection Period, the date of the related determination by the
Special Servicer that it has recovered all payments which it expects to be
finally recoverable and the amount of the proceeds of such sale deposited into
the Certificate Account, and (B) the aggregate amount of other revenues
collected by the Special Servicer with respect to each REO Property during the
related Collection Period and credited to the Certificate Account, in each case
identifying such REO Property by the loan number of the related Mortgage Loan;
(vii) the Aggregate Certificate Balance or Notional Amount, as the case may be,
of each Class of Certificates before and after giving effect to the distribution
made on such Distribution Date; (viii) the aggregate amount of Principal
Prepayments made during the related Collection Period; (ix) the Pass-Through
Rate applicable to each Class of Certificates for such Distribution Date; (x)
the aggregate amount of the Master Servicing Fee, the Primary Servicing Fee, the
Special Servicing Fee, the Excess Servicing Fees and the fees paid to the
2002-HQ Master Servicer and the fees paid to the 2002-HQ Special Servicer; (xi)
the amount of Unpaid Interest, Realized Losses or Expense Losses, if any,
incurred with respect to the Mortgage Loans, including a breakout by type of
such Realized Losses or Expense Losses; (xii) the aggregate amount of Servicing
Advances and P&I Advances outstanding separately stated that have been made by
the Master Servicer, the Trustee and the Fiscal Agent and the aggregate amount
of Servicing Advances and P&I Advances made by the 2002-HQ Master Servicer in
respect of the Woodfield Pari Passu Loan and the 2002-HQ Mortgage Loan; and
(xiii) the amount of any Appraisal Reductions effected during the related
Collection Period on a loan-by-loan basis and the total Appraisal Reductions in
effect as of such Distribution Date (and in the case of the Woodfield Pari Passu
Loan, the amount of any appraisal reductions effected under the 2002-HQ Pooling
and Servicing Agreement). In the case of information furnished pursuant to
subclauses (i), (ii) and (xi) above, the amounts shall be expressed in the
aggregate and as a dollar amount per $1,000 of original principal amount of the
Certificates for all Certificates of each applicable Class.

            "MOODY'S" means Moody's Investors Service Inc. or its successor in
interest.

            "MORTGAGE" means the mortgage, deed of trust or other instrument
securing a Mortgage Note.

            "MORTGAGE FILE" means the mortgage documents listed below:

            (i) the original Mortgage Note bearing all intervening endorsements,
endorsed in blank or endorsed "Pay to the order of LaSalle Bank National
Association, as Trustee for Morgan Stanley Dean Witter Capital I Inc.,
Commercial Mortgage Pass-Through Certificates, Series 2002-IQ2, without
recourse, representation or warranty" or if the original Mortgage Note is not
included therein, then a lost note affidavit with a copy of the Mortgage Note
attached thereto;

            (ii) the original Mortgage, with evidence of recording thereon, and,
if the Mortgage was executed pursuant to a power of attorney, a certified true
copy of the power of attorney certified by the public recorder's office, with
evidence of recording thereon (if recording is customary in the jurisdiction in
which such power of attorney was executed) or certified by a title insurance
company or escrow company to be a true copy thereof; provided that if such
original Mortgage cannot be delivered with evidence of recording thereon on or
prior to the 45th day following the Closing Date because of a delay caused by
the public recording office where such original Mortgage has been delivered for
recordation or because such original Mortgage has been lost, the Depositor shall
deliver or cause to be delivered to the Trustee a true and correct copy of such
Mortgage, together with (A) in the case of a delay caused by the public
recording office, an Officer's Certificate of the applicable Seller stating that
such original Mortgage has been sent to the appropriate public recording
official for recordation or (B) in the case of an original Mortgage that has
been lost after recordation, a certification by the appropriate county recording
office where such Mortgage is recorded that such copy is a true and complete
copy of the original recorded Mortgage;

            (iii) the originals of all agreements modifying a Money Term or
other material modification, consolidation and extension agreements, if any,
with evidence of recording thereon (which are reflected in the Mortgage Loan
Schedule), or if such original modification, consolidation and extension
agreements have been delivered to the appropriate recording office for
recordation and either have not yet been returned on or prior to the 45th day
following the Closing Date with evidence of recordation thereon or have been
lost after recordation, true copies of such modifications, consolidations and
extensions certified by the applicable Seller together with (A) in the case of a
delay caused by the public recording office, an Officer's Certificate of the
applicable Seller stating that such original modification, consolidation or
extension agreement has been dispatched or sent to the appropriate public
recording official for recordation or (B) in the case of an original
modification, consolidation or extension agreement that has been lost after
recordation, a certification by the appropriate county recording office where
such document is recorded that such copy is a true and complete copy of the
original recorded modification, consolidation or extension agreement, and the
originals of all assumption agreements, if any;

            (iv) an original Assignment of Mortgage for each Mortgage Loan, in
form and substance acceptable for recording, signed by the holder of record in
blank or in favor of "LaSalle Bank National Association, as Trustee for Morgan
Stanley Dean Witter Capital I Inc., Commercial Mortgage Pass-Through
Certificates, Series 2002-IQ2";

            (v) originals of all intervening assignments of Mortgage, if any,
with evidence of recording thereon or, if such original assignments of Mortgage
have been delivered to the appropriate recorder's office for recordation,
certified true copies of such assignments of Mortgage certified by the
applicable Seller, or in the case of an original blanket intervening assignment
of Mortgage retained by the applicable Seller, a copy thereof certified by the
applicable Seller or, if any original intervening assignment of Mortgage has not
yet been returned on or prior to the 45th day following the Closing Date from
the applicable recording office or has been lost, a true and correct copy
thereof, together with (A) in the case of a delay caused by the public recording
office, an Officer's Certificate of the applicable Seller stating that such
original intervening assignment of Mortgage has been sent to the appropriate
public recording official for recordation or (B) in the case of an original
intervening assignment of Mortgage that has been lost after recordation, a
certification by the appropriate county recording office where such assignment
is recorded that such copy is a true and complete copy of the original recorded
intervening assignment of Mortgage;

            (vi) if the related Assignment of Leases is separate from the
Mortgage, the original of such Assignment of Leases with evidence of recording
thereon or, if such Assignment of Leases has not been returned on or prior to
the 45th day following the Closing Date from the applicable public recording
office, a copy of such Assignment of Leases certified by the applicable Seller
to be a true and complete copy of the original Assignment of Leases submitted
for recording, together with (A) an original of each assignment of such
Assignment of Leases with evidence of recording thereon and showing a complete
recorded chain of assignment from the named assignee to the holder of record,
and if any such assignment of such Assignment of Leases has not been returned
from the applicable public recording office, a copy of such assignment certified
by the applicable Seller to be a true and complete copy of the original
assignment submitted for recording, and (B) an original assignment of such
Assignment of Leases, in recordable form, signed by the holder of record in
favor of "LaSalle Bank National Association, as Trustee for Morgan Stanley Dean
Witter Capital I Inc., Commercial Mortgage Pass-Through Certificates, Series
2002-IQ2," which assignment may be effected in the related Assignment of
Mortgage;

            (vii) the original of each guaranty, if any, constituting additional
security for the repayment of such Mortgage Loan;

            (viii) the original Title Insurance Policy or in the event such
original Title Insurance Policy has not been issued, an original binder or
actual title commitment or a copy thereof certified by the title company with
the original Title Insurance Policy to follow within 180 days of the Closing
Date or a preliminary title report with an original Title Insurance Policy to
follow within 180 days of the Closing Date;

            (ix) (A) UCC financing statements (together with all assignments
thereof) filed in connection with a Mortgage Loan and (B) UCC-2 or UCC-3
financing statements assigning such UCC financing statements to the Trustee
executed and delivered in connection with the Mortgage Loan;

            (x) copies of the related ground lease(s), if any, related to any
Mortgage Loan where the Mortgagor is the lessee under such ground lease and
there is a lien in favor of the mortgagee in such lease;

            (xi) copies of any loan agreements, lock-box agreements and
intercreditor agreements (including, without limitation, the One Seaport Plaza
Intercreditor Agreement and the Woodfield Intercreditor Agreement), if any,
related to any Mortgage Loan and a copy of the Mortgage Note evidencing the
related One Seaport Plaza Companion Loan;

            (xii) either (A) the original of each letter of credit, if any,
constituting additional collateral for such Mortgage Loan (other than letters of
credit representing tenant security deposits which have been collaterally
assigned to the lender), which shall be assigned and delivered to the Trustee on
behalf of the Trust with a copy to be held by the Primary Servicer (or the
Master Servicer), and applied, drawn, reduced or released in accordance with
documents evidencing or securing the applicable Mortgage Loan, this Agreement
and the applicable Primary Servicing Agreement or (B) the original of each
letter of credit, if any, constituting additional collateral for such Mortgage
Loan (other than letters of credit representing tenant security deposits which
have been collaterally assigned to the lender), which shall be held by the
Primary Servicer (or the Master Servicer) on behalf of the Trustee, with a copy
to be held by the Trustee, and applied, drawn, reduced or released in accordance
with documents evidencing or securing the applicable Mortgage Loan, this
Agreement and the applicable Primary Servicing Agreement (it being understood
that each Seller has agreed (a) that the proceeds of such letter of credit
belong to the Trust, (b) to notify, on or before the Closing Date, the bank
issuing the letter of credit that the letter of credit and the proceeds thereof
belong to the Trust, and to use reasonable efforts to obtain within 30 days (but
in any event to obtain within 90 days) following the Closing Date, an
acknowledgement thereof by the bank (with a copy of such acknowledgement to be
sent to the Trustee) and (c) to indemnify the Trust for any liabilities,
charges, costs, fees or other expenses accruing from the failure of the Seller
to assign the letter of credit hereunder). In the case of clause (B) above, each
Primary Servicer (and the Master Servicer) acknowledges that any letter of
credit held by it shall be held in its capacity as agent of the Trust, and if a
Primary Servicer (or Master Servicer) sells its rights to service the applicable
Mortgage Loan, the applicable Primary Servicer (or Master Servicer) will assign
the applicable letter of credit to the Trust or at the direction of the Special
Servicer to such party as the Special Servicer may instruct, in each case, at
the expense of the Primary Servicer (or Master Servicer). The Primary Servicer
(or Master Servicer) shall indemnify the Trust for any loss caused by the
ineffectiveness of such assignment;

            (xiii) the original environmental indemnity agreement, if any,
related to any Mortgage Loan;

            (xiv) copies of third-party management agreements, if any, for
hotels and Mortgaged Properties securing Mortgage Loans with a Cut-Off Date
Principal Balance equal to or greater than $20,000,000;

            (xv) any Environmental Insurance Policy;

            (xvi) any indemnification agreement in favor of the lender; and

            (xvii) with respect to the Woodfield Pari Passu Loan, a copy of the
2002-HQ Pooling and Servicing Agreement.

            With respect to the Woodfield Pari Passu Loan, the preceding
document delivery requirements will be met by the delivery by the Depositor of
copies of the documents specified above (other than the Mortgage Note (and all
intervening endorsements) evidencing the Woodfield Pari Passu Loan, with respect
to which the originals shall be required), including a copy of the Woodfield
Pari Passu Mortgage.

            "MORTGAGE LOAN" means a Mortgage Note secured by a Mortgage, and all
amendments and modifications thereof, identified on the Mortgage Loan Schedule,
as amended from time to time, and conveyed, transferred, sold, assigned to or
deposited with the Trustee pursuant to Section 2.1 or Section 2.3, and Mortgage
Loan shall also include any Defeasance Loan, the Woodfield Pari Passu Loan (but
not for purposes of making Advances pursuant to this Agreement ; and not the
2002-HQ Mortgage Loan), the One Seaport Plaza Pari Passu Loan (but not the One
Seaport Plaza Companion Loan), any Post Determination Date Mortgage Loan, any
Post Collection Period Loan and REO Mortgage Loan, unless the context requires
otherwise.

            "MORTGAGE LOAN PURCHASE AGREEMENT" means Mortgage Loan Purchase
Agreement I, Mortgage Loan Purchase Agreement II, Mortgage Loan Purchase
Agreement III, Mortgage Loan Purchase Agreement IV or Mortgage Loan Purchase
Agreement V, as the case may be.

            "MORTGAGE LOAN PURCHASE AGREEMENT I" means that certain Mortgage
Loan Purchase Agreement between JHREF and the Depositor dated as of June 1, 2002
with respect to the JHREF Loans, a form of which is attached hereto as Exhibit
K-1.

            "MORTGAGE LOAN PURCHASE AGREEMENT II" means that certain Mortgage
Loan Purchase Agreement between MSDWMC and the Depositor dated as of June 1,
2002 with respect to the MSDWMC Loans, a form of which is attached hereto as
Exhibit K-2.

            "MORTGAGE LOAN PURCHASE AGREEMENT III" means that certain Mortgage
Loan Purchase Agreement between Principal and the Depositor dated as of June 1,
2002 with respect to the Principal Loans, a form of which is attached hereto as
Exhibit K-3.

            "MORTGAGE LOAN PURCHASE AGREEMENT IV" means that certain Mortgage
Loan Purchase Agreement between State Farm and the Depositor dated as of June 1,
2002 with respect to the State Farm Loans, a form of which is attached hereto as
Exhibit K-4.

            "MORTGAGE LOAN PURCHASE AGREEMENT V" means that certain Mortgage
Loan Purchase Agreement between TIAA and the Depositor dated as of June 1, 2002
with respect to the TIAA Loans, a form of which is attached hereto as Exhibit
K-5.

            "MORTGAGE LOAN SCHEDULE" or "LOAN SCHEDULE" means collectively the
schedule attached hereto as Schedule I, which identifies each JHREF Loan, the
schedule attached hereto as Schedule II, which identifies each MSDWMC Loan, the
schedule attached hereto as Schedule III, which identifies each Principal Loan,
the schedule attached hereto as Schedule IV, which identifies each State Farm
Loan and the schedule attached hereto as Schedule V, which identifies each TIAA
Loan, as such schedules may be amended from time to time pursuant to Section
2.3.

            "MORTGAGE NOTE" means the note or other evidence of indebtedness
evidencing the indebtedness of a Mortgagor under a Mortgage Loan.

            "MORTGAGE RATE" means, for a given Mortgage Loan or One Seaport
Plaza Companion Loan, the per annum rate at which interest accrues on such
Mortgage Loan or One Seaport Plaza Companion Loan.

            "MORTGAGED PROPERTY" means the real property, together with
improvements thereto, securing the indebtedness of the Mortgagor under the
related Mortgage Loan and, in the case of the One Seaport Plaza Loan Pair, the
related One Seaport Plaza Companion Loan.

            "MORTGAGEE" means, with respect to any Mortgage as of any date of
determination, the mortgagee named therein as of such date.

            "MORTGAGOR" means the obligor on a Mortgage Note.

            "MSDWMC" has the meaning assigned in the Preliminary Statement
hereto.

            "MSDWMC LOANS" means, collectively, those Mortgage Loans sold to the
Depositor pursuant to the Mortgage Loan Purchase Agreement II and shown on
Schedule II hereto.

            "NET AGGREGATE PREPAYMENT INTEREST SHORTFALL" means for any
Distribution Date, with respect to all Mortgage Loans (including Post
Determination Date Mortgage Loans and Post Collection Period Loans) which are
not Specially Serviced Mortgage Loans, the excess, if any, of aggregate
Prepayment Interest Shortfalls for such Mortgage Loans over the sum of (A) the
Compensating Interest to be paid by the Master Servicer (or the Primary
Servicers or the Sub-Servicers) on such Distribution Date and (B) the aggregate
Prepayment Interest Excesses for all Mortgage Loans (including Post
Determination Date Mortgage Loans and Post Collection Period Loans) which are
not Specially Serviced Mortgage Loans.

            "NEW LEASE" means any lease of any REO Property entered into on
behalf of the Trust, including any lease renewed or extended on behalf of the
Trust if the Trust has the right to renegotiate the terms of such lease.

            "1933 ACT" means the Securities Act of 1933, as amended.

            "1934 ACT" means the Securities Exchange Act of 1934, as amended.

            "NOI ADJUSTMENT WORKSHEET" means a worksheet substantially in the
form of Exhibit P.

            "NON-INVESTMENT GRADE CERTIFICATES" means each Class of Certificates
other than a Residual Certificate that, at the time of determination, is not
rated in one of the four highest generic rating categories by at least one of
Fitch, S&P or Moody's.

            "NON-REGISTERED CERTIFICATE" means unless and until registered under
the Securities Act, any Class X, Class E, Class F, Class G, Class H, Class J,
Class K, Class L, Class M, Class N, Class O or Residual Certificate.

            "NONDISQUALIFICATION OPINION" means a written Opinion of Counsel to
the effect that a contemplated action will neither cause any REMIC Pool to fail
to qualify as a REMIC at any time that any Certificates are outstanding nor
cause a "prohibited transaction," "prohibited contribution" or any other tax
(other than a tax on "net income from foreclosure property" permitted to be
incurred under this Agreement) to be imposed on any REMIC Pool or the Trust.

            "NONECONOMIC RESIDUAL INTEREST" means a residual interest that is a
"noneconomic residual interest" within the meaning of Treasury Regulations
Section 1.860E-1(c).

            "NONRECOVERABLE ADVANCE" means any of the following (i) the
Woodfield Pari Passu Loan Nonrecoverable P&I Advances (including interest
accrued thereon at the Advance Rate); (ii) the Woodfield Pari Passu Loan
Nonrecoverable Servicing Advances (including interest accrued thereon at the
Advance Rate) and (iii) the portion of any Advance (including interest accrued
thereon at the Advance Rate) previously made or proposed to be made by the
Master Servicer, the Principal Primary Servicer, the Trustee or the Fiscal Agent
that, in its respective sole discretion, exercised in good faith and, with
respect to the Master Servicer, in accordance with the Servicing Standard, will
not be or, in the case of a current delinquency, would not be, ultimately
recoverable, from Insurance Proceeds, Condemnation Proceeds, Liquidation
Proceeds or Purchase Proceeds (or from any other collections) with respect to
the related Mortgage Loan or One Seaport Plaza Companion Loan (in the case of
P&I Advances and Servicing Advances) or REO Property (in the case of P&I
Advances and Servicing Advances), as evidenced by an Officer's Certificate
delivered pursuant to Section 4.4. Such Officer's Certificate shall be delivered
to the Trustee (upon which the Trustee may conclusively rely) or to the
Depositor (if the Trustee or the Fiscal Agent is delivering such Officer's
Certificate) and (in either case) to the Special Servicer and the Paying Agent
in the time periods as specified in Section 4.4 and shall include the
information and reports set forth in Section 4.4. In determining whether an
Advance with respect to any Mortgage Loan or One Seaport Plaza Companion Loan
(in the case of P&I Advances and Servicing Advances) will be recoverable, the
Master Servicer, the Trustee or the Fiscal Agent, as applicable, shall take into
account amounts that may be realized on the related Mortgaged Property in its
"as is" or then current condition and occupancy. Absent bad faith, the Master
Servicer's determination as to the recoverability of any Advance shall be
conclusive and binding on the Certificateholders and, in the case of any One
Seaport Plaza Companion Loan, the holder of the One Seaport Plaza Companion
Loan. Absent bad faith or breach of the servicing standard under the 2002-HQ
Pooling and Servicing Agreement, the determination as to the recoverability of
any advance made with respect to the Woodfield Pari Passu Loan pursuant to the
2002-HQ Pooling and Servicing Agreement, shall be conclusive and binding on the
Certificateholders and may, in all cases, be relied on by the Trustee, the
Fiscal Agent and the Master Servicer.

            "NOTIONAL AMOUNT" means, as of any date of determination: (i) with
respect to all of the Class X-1 Certificates as a Class, the Class X-1 Notional
Amount as of such date of determination; (ii) with respect to any Class X-1
Certificate, the product of the Percentage Interest evidenced by such
Certificate and the Class X-1 Notional Amount as of such date of determination;
(iii) with respect to all of the Class X-2 Certificates as a Class, the Class
X-2 Notional Amount as of such date of determination and (iv) with respect to
any Class X-2 Certificate, the product of the Percentage Interest evidenced by
such Certificate and the Class X-2 Notional Amount as of such date of
determination.

            "OFFICER'S CERTIFICATE" means (v) in the case of the Depositor, a
certificate signed by one or more of the Chairman of the Board, any Vice
Chairman, the President, or any Senior Vice President, Vice President or
Assistant Vice President, and by one or more of the Treasurer, any Assistant
Treasurer, the Secretary or any Assistant Secretary of the Depositor, or (w) in
the case of the Master Servicer and the Special Servicer, any of the officers
referred to above or an employee thereof designated as a Servicing Officer or
Special Servicing Officer pursuant to this Agreement, (x) in the case of the
Trustee or the Fiscal Agent, a certificate signed by a Responsible Officer, (y)
in the case of a Seller, a certificate signed by one or more of the Chairman of
the Board, any Vice Chairman, any Managing Director or Director, the President,
or any Executive Vice President; any Senior Vice President, Second Vice
President, Vice President or Assistant Vice President, any Treasurer, any
Assistant Treasurer, any Secretary or Assistant Secretary and (z) in the case of
the Paying Agent, a certificate signed by a Responsible Officer, each with
specific responsibilities for the matters contemplated by this Agreement.

            "ONE SEAPORT PLAZA COMPANION LOAN" means, individually and
collectively (as the context requires), the two notes that are secured on a pari
passu basis with the One Seaport Plaza Pari Passu Loan. The One Seaport Plaza
Companion Loan is not a "Mortgage Loan."

            "ONE SEAPORT PLAZA COMPANION LOAN CUSTODIAL ACCOUNT" means, each of
the custodial sub-account(s) of the Certificate Account (but which are not
included in the Trust) created and maintained by the Master Servicer pursuant to
Section 5.1(c) on behalf of the holder of the related One Seaport Plaza
Companion Loan. Any such sub-account(s) shall be maintained as a sub-account of
an Eligible Account.

            "ONE SEAPORT PLAZA INTERCREDITOR AGREEMENT" means, with respect to
the One Seaport Plaza Loan Pair, the related intercreditor agreement by and
between the holders of the One Seaport Plaza Pari Passu Loan and the related One
Seaport Plaza Companion Loan relating to the relative rights of such holders of
the One Seaport Plaza Pari Passu Loan and One Seaport Plaza Companion Loan, as
amended by the One Seaport Plaza Letter Agreement, and as the same may be
further amended from time to time in accordance with the terms thereof.

            "ONE SEAPORT PLAZA LETTER AGREEMENT" means that certain letter
agreement dated June 27, 2002 by and among the Master Servicer, the Special
Servicer, the Trustee, the Paying Agent, the Fiscal Agent and Morgan Stanley
Bank, a Utah industrial loan company, as initial holder of the One Seaport Plaza
Companion Loan, relating to certain servicing matters with respect to the One
Seaport Plaza Pari Passu Loan and the One Seaport Plaza Companion Loan.

            "ONE SEAPORT PLAZA LOAN PAIR" means the One Seaport Plaza Pari Passu
Loan and the One Seaport Plaza Companion Loan, collectively.

            "ONE SEAPORT PLAZA OPERATING ADVISER" shall have the meaning set
forth in Section 9.37(g).

            "ONE SEAPORT PLAZA PARI PASSU LOAN" means the Mortgage Loan
designated as Mortgage Loan No. 2 on the Mortgage Loan Schedule which is secured
by the One Seaport Plaza Pari Passu Mortgage on a pari passu basis with the One
Seaport Plaza Companion Loan.

            "ONE SEAPORT PLAZA PARI PASSU MORTGAGE" means the mortgage securing
the One Seaport Plaza Pari Passu Loan and the One Seaport Plaza Companion Loan.

            "OPERATING ADVISER" shall have the meaning specified in Section
9.37(a).

            "OPERATING STATEMENT ANALYSIS REPORT" means a report which is one
element of the MBA/CMSA Methodology for Analyzing and Reporting Property Income
Statements and which is substantially in the form of Exhibit N.

            "OPINION OF COUNSEL" means a written opinion of counsel addressed to
the Master Servicer (and/or any Primary Servicer acting on behalf of the Master
Servicer), the Special Servicer, or the Trustee and the Paying Agent, as
applicable, reasonably acceptable in form and substance to the Master Servicer
(and/or any Primary Servicer acting on behalf of the Master Servicer), the
Special Servicer, or the Trustee and the Paying Agent, as applicable, and who is
not in-house counsel to the party required to deliver such opinion but who, in
the good faith judgment of the Master Servicer (and/or any Primary Servicer
acting on behalf of the Master Servicer), the Special Servicer, or the Trustee
and the Paying Agent, as applicable, is Independent outside counsel
knowledgeable of the issues occurring in the practice of securitization with
respect to any such opinion of counsel concerning the taxation, or status as a
REMIC for tax purposes, of the Trust or any REMIC Pool.

            "OPTION" shall have the meaning specified in Section 9.36(a).

            "OPTION HOLDER" shall have the meaning specified in Section 9.36(a).

            "OPTION PURCHASE PRICE" shall have the meaning specified in Section
9.36(b).

            "OTHER POOLING AND SERVICING AGREEMENT" shall have the meaning set
forth in Section 9.4(c) hereof.

            "OTHER SECURITIZATION" shall have the meaning set forth in Section
9.4(c) hereof.

            "OTHER SPECIAL SERVICER" shall have the meaning set forth in Section
9.4(c) hereof.

            "OWNERSHIP INTEREST" means, as to any Certificate, any ownership or
security interest in such Certificate as the Holder thereof and any other
interest therein, whether direct or indirect, legal or beneficial, as owner or
as pledgee.

            "P&I ADVANCE" shall mean, (i) with respect to any Mortgage Loan, One
Seaport Plaza Companion Loan or Specially Serviced Mortgage Loan as to which all
or a portion of the Scheduled Payment (other than a Balloon Payment) due during
the related Collection Period (or with respect to the Post Collection Period
Loans and Post Determination Date Mortgage Loans, due on the related Due Date)
was not received by the Master Servicer as of the Business Day preceding the
Master Servicer Remittance Date, the portion of such Scheduled Payment not
received; (ii) with respect to any Balloon Mortgage Loan and One Seaport Plaza
Companion Loan (including any REO Mortgage Loan which provided for a Balloon
Payment) as to which a Balloon Payment was due or deemed due during or prior to
the related Collection Period but was delinquent, in whole or in part, as of the
Business Day prior to the related Master Servicer Remittance Date (or, in the
case of Post Determination Date Mortgage Loans or Post Collection Period Loans,
as of the Business Day prior to the Master Servicer Remittance Date), an amount
equal to the excess, if any, of the Balloon Advance, if applicable, or the
Assumed Scheduled Payment (without duplication for any Balloon Advances on Post
Determination Date Mortgage Loans) for such Balloon Mortgage Loan for the
related Collection Period, over any Late Collections received in respect of such
Balloon Payment during such Collection Period; and (iii) with respect to each
REO Property, an amount equal to the excess, if any, of the Assumed Scheduled
Payment for the REO Mortgage Loan or One Seaport Plaza Companion Loan related to
such REO Property during the related Collection Period (or as to Post
Determination Date Mortgage Loans and Post Collection Period Loans, due on the
related Due Date during the month in which the related Collection Period ends),
over remittances of REO Income (or, in the case of the One Seaport Plaza Pari
Passu Loan or One Seaport Plaza Companion Loan, the portion thereof allocable to
the One Seaport Plaza Pari Passu Loan or One Seaport Plaza Companion Loan under
the One Seaport Plaza Intercreditor Agreement) to the Master Servicer by the
Special Servicer, reduced by any amounts required to be paid as taxes on such
REO Income (including taxes imposed pursuant to Section 860G(c) of the Code);
provided, however, that the Scheduled Payment or Assumed Scheduled Payment for
any Mortgage Loan or REO Mortgage Loan which has been modified shall be
calculated based on its terms as modified and provided, further, that the
interest portion amount of any P&I Advance with respect to a Mortgage Loan (or
the One Seaport Plaza Pari Passu Loan or One Seaport Plaza Companion Loan
contained in the One Seaport Plaza Loan Pair) as to which there has been an
Appraisal Reduction will be an amount equal to the product of (i) the amount
with respect to interest required to be advanced without giving effect to this
proviso and (ii) a fraction, the numerator of which is the Scheduled Principal
Balance of such Mortgage Loan or One Seaport Plaza Companion Loan as of the
immediately preceding Determination Date less any Appraisal Reduction applicable
to such Mortgage Loan or One Seaport Plaza Companion Loan (or, in the case of
the One Seaport Plaza Pari Passu Loan or One Seaport Plaza Companion Loan, the
portion thereof allocable to such One Seaport Plaza Pari Passu Loan or One
Seaport Plaza Companion Loan under the One Seaport Plaza Intercreditor
Agreement) and the denominator of which is the Scheduled Principal Balance of
such Mortgage Loan or One Seaport Plaza Companion Loan as of such Determination
Date.

            "P&I ADVANCE AMOUNT" means, with respect to any Mortgage Loan, One
Seaport Plaza Companion Loan or REO Property, the amount of the P&I Advance for
each Mortgage Loan or One Seaport Plaza Companion Loan computed for any
Distribution Date (or, in the case of an REO Property related to a One Seaport
Plaza Loan Pair, the sum of the amount of the P&I Advance for the One Seaport
Plaza Pari Passu Loan and the amount of the P&I Advance for the One Seaport
Plaza Companion Loan).

            "PARTICIPANT" means a broker, dealer, bank, other financial
institution or other Person for whom the Clearing Agency effects book-entry
transfers and pledges of securities deposited with the Clearing Agency.

            "PASS-THROUGH RATE" or "PASS-THROUGH RATES" means with respect to
any Class of REMIC I Regular Interests, REMIC II Regular Interests or REMIC
Regular Certificates, other than the Class E, Class F and Class X Certificates,
for the first Distribution Date, the rate set forth in the Preliminary Statement
hereto. For any Distribution Date occurring thereafter (and with respect to the
Class E, Class F, Class G and Class X Certificates, for each Distribution Date),
the Pass-Through Rates for (i) the REMIC I Regular Interests shall equal the
REMIC I Net Mortgage Rate on the related Mortgage Loan for such Distribution
Date, (ii) the REMIC II Regular Interests shall equal the Weighted Average REMIC
I Net Mortgage Rate for such Distribution Date, (iii) the Class A-1, Class A-2,
Class A-3, Class A-4, Class B, Class C and Class D Certificates shall equal the
fixed rate corresponding to such Class set forth in the Preliminary Statement
hereto, (iv) the Class E Certificates shall equal the Weighted Average REMIC I
Net Mortgage Rate for such Distribution Date less 0.50%, (v) the Class F
Certificates shall equal the Weighted Average REMIC I Net Mortgage Rate for such
Distribution Date less 0.31%, (vi) the Class G Certificates shall equal the
Weighted Average REMIC I Net Mortgage Rate for such Distribution Date, (vii) the
Class H, Class J, Class K, Class L, Class M, Class N and Class O Certificates
shall equal the lesser of (A) the fixed rate corresponding to such Class set
forth in the Preliminary Statement hereto and (B) the Weighted Average REMIC I
Net Mortgage Rate for such Distribution Date, (viii) the Class X-1 Certificates,
shall equal the per annum rate equal to (A) the product of (y) the Accrued
Certificate Interest thereon for such Distribution Date and (z) 12, divided by
(B) the Class X-1 Notional Amount and (ix) the Class X-2 Certificates, shall
equal the per annum rate equal to (A) the product of (y) the Accrued Certificate
Interest thereon for such Distribution Date and (z) 12, divided by (B) the Class
X-2 Notional Amount. The Pass-Through Rate for the Class A-1A Component, the
Class A-1B Component and the Class A-1C Component shall equal the Pass-Through
Rate of the Class A-1 Certificates. The Pass-Through Rate for the Class A-2A
Component, the Class A-2B Component and the Class A-2C Component shall equal the
Pass-Through Rate of the Class A-2 Certificates. The Pass-Through Rate for the
Class A-3A Component, the Class A-3B Component and the Class A-3C Component
shall equal the Pass-Through Rate of the Class A-3 Certificates. The
Pass-Through Rate for the Class C-1 Component and the Class C-2 Component shall
equal the Pass-Through Rate of the Class C Certificates. The Pass-Through Rate
for the Class E-1 Component and the Class E-2 Component shall equal the
Pass-Through Rate of the Class E Certificates. The Pass-Through Rate for the
Class F-1 Component and the Class F-2 Component shall equal the Pass-Through
Rate of the Class F Certificates. The Pass-Through Rate for the Class H-1
Component and the Class H-2 Component shall equal the Pass-Through Rate of the
Class H Certificates.

            "PAYING AGENT" means LaSalle Bank National Association and any
successor or assign, as provided herein.

            "PAYING AGENT FEE" means the portion of the Trustee Fee payable to
the Paying Agent in an amount agreed to between the Trustee and the Paying
Agent.

            "PERCENTAGE INTEREST" means with respect to each Class of
Certificates other than the Residual Certificates, the fraction of such Class
evidenced by such Certificate, expressed as a percentage (carried to four
decimal places and rounded, if necessary), the numerator of which is the
Certificate Balance or Notional Amount, as applicable, represented by such
Certificate determined as of the Closing Date (as stated on the face of such
Certificate) and the denominator of which is the Aggregate Certificate Balance
or Notional Amount, as applicable, of all of the Certificates of such Class
determined as of the Closing Date. With respect to each Residual Certificate,
the percentage interest in distributions (if any) to be made with respect to the
relevant Class, as stated on the face of such Certificate.

            "PERMITTED TRANSFEREE" means any Transferee other than a
Disqualified Organization.

            "PERSON" means any individual, corporation, limited liability
company, partnership, joint venture, association, joint-stock company, trust,
unincorporated organization or government or any agency or political subdivision
thereof.

            "PHASE I ENVIRONMENTAL REPORT" means a report by an Independent
Person who regularly conducts environmental site assessments in accordance with
then current standards imposed by institutional commercial mortgage lenders and
who has a reasonable amount of experience conducting such assessments.

            "PLACEMENT AGENT" means Morgan Stanley & Co. Incorporated or its
successor in interest.

            "PLAN" has the meaning set forth in Section 3.3(d).

            "PLAN ASSET REGULATIONS" means the Department of Labor regulations
set forth in 29 C.F.R.ss. 2510.3-101.

            "POST COLLECTION PERIOD LOANS" means, with respect to any
Distribution Date, the Mortgage Loans listed on Schedule III hereto with Due
Dates that occur on the 10th day in the same month of the Distribution Date and
have no grace period.

            "POST DETERMINATION DATE MORTGAGE LOANS" means, with respect to any
Distribution Date, the Mortgage Loans listed on Schedule III hereto with Due
Dates that occur or grace periods that expire on or after the related
Distribution Date in the same month of the Distribution Date.

            "PRELIMINARY PROSPECTUS SUPPLEMENT" has the meaning set forth in the
Preliminary Statement hereto.

            "PREPAYMENT INTEREST EXCESS" means for any Distribution Date, the
related Collection Period, and through and including two (2) Business Days prior
to the Distribution Date, during which a full or partial Principal Prepayment
(including any payment of a Balloon Payment other than in connection with the
foreclosure or liquidation of a Mortgage Loan) is made on or after the Due Date
for such Mortgage Loan through and including two Business Days prior to the
Distribution Date, the amount of interest that accrues on the amount of such
Principal Prepayment or Balloon Payment from such Due Date to the date such
payment was made, plus (if made) any payment by the related Mortgagor of
interest that would have accrued to the next succeeding Due Date (net of the
Master Servicing Fee, the Primary Servicing Fees, the Excess Servicing Fees, the
Special Servicing Fee, the servicing fee and trustee fee payable in connection
with the Woodfield Pari Passu Loan (in the case of the Woodfield Pari Passu
Loan) and the Trustee Fee), to the extent collected.

            "PREPAYMENT INTEREST SHORTFALL" means, with respect to any
Distribution Date, and either (a) the related Collection Period or, as
applicable, (b) the period of time from the prior Master Servicer Remittance
Date through and including two (2) Business Days prior to such Distribution
Date, a shortfall in the collection of a full month's interest on any Mortgage
Loan, by reason of a full or partial Principal Prepayment (including any payment
of a Balloon Payment other than in connection with the foreclosure or
liquidation of a Mortgage Loan) made during any such period prior to the Due
Date for such Mortgage Loan (including any shortfall resulting from a payment
during the grace period relating to such Due Date). By way of example and not in
limitation of the foregoing, a Prepayment Interest Shortfall would arise under
the following Mortgage Loan payment scenarios: (i) with respect to any Post
Collection Period Loan, a full or partial Principal Prepayment (including any
payment of a Balloon Payment, other than in connection with the foreclosure or
liquidation of a Mortgage Loan) made during the period from on or after the
Master Servicer Remittance Date of the preceding month to the day prior to the
Due Date related to such Distribution Date or (ii) with respect to a Post
Determination Date Mortgage Loan, a Balloon Payment made on the applicable
Master Servicer Remittance Date. The parties hereto acknowledge that the
foregoing payment scenarios do not encompass every possible situation in which a
Prepayment Interest Shortfall might be created and the parties intend that the
foregoing provisions be interpreted and implemented in such a manner (and the
parties hereto agree to reasonably cooperate with each other) so as to make
distributions to the Trust in order to limit or eliminate the amount of any
Prepayment Interest Shortfall which might be created in connection therewith.
The amount of any Prepayment Interest Shortfall shall equal the excess of (A)
the aggregate amount of interest which would have accrued on the Scheduled
Principal Balance of such Mortgage Loan for the 30 days ending on such Due Date
if such Principal Prepayment or Balloon Payment had not been made (net of the
Master Servicing Fee, the Primary Servicing Fees, the Excess Servicing Fees, the
Special Servicing Fee, the servicing fee and trustee fee payable in connection
with the Woodfield Pari Passu Loan (in the case of the Woodfield Pari Passu
Loan) and the Trustee Fee) over (B) the aggregate interest that did so accrue
through the date such payment was made.

            "PREPAYMENT PREMIUM" means, with respect to any Mortgage Loan or One
Seaport Plaza Companion Loan for any Distribution Date, the prepayment premiums
or percentage premiums, if any, received during the related Collection Period in
connection with Principal Prepayments on such Mortgage Loan or One Seaport Plaza
Companion Loan. The prepayment yield portion of the Additional Interest Deposit
shall not be considered a Prepayment Premium, but shall be distributed in
accordance with the definition of Additional Initial Deposit.

            "PRIMARY COLLATERAL" means the portion of the Mortgaged Property
securing the Repurchased Loan or Cross-Collateralized Loan, as applicable, that
is encumbered by a first mortgage lien.

            "PRIMARY SERVICERS" means Principal Capital Management, LLC, JHREF
and each of their respective permitted successors and assigns.

            "PRIMARY SERVICING AGREEMENT" means, with respect to each Primary
Servicer, the agreement between such Primary Servicer and the Master Servicer,
dated as of June 1, 2002, under which such Primary Servicer services the
Mortgage Loans set forth on the schedule attached thereto.

            "PRIMARY SERVICING FEE" means, for each calendar month, as to each
Mortgage Loan, the applicable Primary Servicing Fee Rate multiplied by the
Scheduled Principal Balance of such Mortgage Loan immediately before the Due
Date occurring in such month, but prorated for the number of days during the
calendar month for such Mortgage Loan for which interest actually accrues on
such Mortgage Loan and payable only from collections on such Mortgage Loan.

            "PRIMARY SERVICING FEE RATE" means, the monthly fee payable to the
applicable Primary Servicer (or the Master Servicer, as applicable) based on the
per annum rate specified on the Mortgage Loan Schedule, as more specifically
described, in the case of the Primary Servicers, in the applicable Primary
Servicing Agreement (determined in the same manner (other than the rate of
accrual) as the applicable Mortgage Rate is determined for such Mortgage Loan
for such month).

            "PRINCIPAL" has the meaning assigned in the Preliminary Statement
hereto.

            "PRINCIPAL PRIMARY SERVICER" means Principal Capital Management,
LLC, solely in its capacity as a primary servicer hereunder.

            "PRINCIPAL PRIMARY SERVICER OPTION" has the meaning set forth in
Section 4.1(a).

            "PRINCIPAL BALANCE" means, with respect to any Mortgage Loan, One
Seaport Plaza Companion Loan or REO Mortgage Loan, for purposes of performing
calculations with respect to any Distribution Date, the principal balance of
such Mortgage Loan, One Seaport Plaza Companion Loan or the related REO Mortgage
Loan outstanding as of the Cut-Off Date after taking into account all principal
and interest payments made or due prior to the Cut-Off Date (assuming, for any
Mortgage Loan or One Seaport Plaza Companion Loan with a Due Date in June 2002
that is not June 1, 2002, that principal and interest payments for such month
were paid on June 1, 2002), reduced (to not less than zero) by (i) any payments
or other collections of amounts allocable to principal on such Mortgage Loan,
One Seaport Plaza Companion Loan or related REO Mortgage Loan that have been
collected or received during any preceding Collection Period, other than any
Scheduled Payments due in any subsequent Collection Period, and (ii) the
principal portion of any Realized Loss incurred in respect of such Mortgage Loan
or related REO Mortgage Loan during any related and preceding Collection Period.

            "PRINCIPAL BALANCE CERTIFICATES" means, collectively, the Class A-1,
Class A-2, Class A-3, Class A-4, Class B, Class C, Class D, Class E, Class F,
Class G, Class H, Class J, Class K, Class L, Class M, Class N and Class O
Certificates.

            "PRINCIPAL DISTRIBUTION AMOUNT" means, on any Distribution Date, the
sum of the following amounts: (i) the principal portion of all Scheduled
Payments (other than the principal portion of Balloon Payments) and any Assumed
Scheduled Payments, in each case, to the extent received or advanced, as the
case may be, in respect of the Mortgage Loans and any REO Mortgage Loans (but
not in respect of any One Seaport Plaza Companion Loan or its successor REO
Mortgage Loan) for their respective Due Dates occurring during the related
Collection Period, (ii) in the case of Post Determination Date Mortgage Loans
and Post Collection Period Loans, the Scheduled Payments (other than the
principal portion of Balloon Payments) and any Assumed Scheduled Payments that
are due, or deemed due, as the case may be, for their respective Due Dates
occurring during the month in which such Distribution Date occurs to the extent
such amounts are received or advanced; (iii) all payments (including Principal
Prepayments and the principal portion of Balloon Payments) and any other
collections (including Liquidation Proceeds (other than the portion thereof, if
any, constituting Excess Liquidation Proceeds), Condemnation Proceeds, Insurance
Proceeds, Purchase Proceeds and REO Income) received on or in respect of the
Mortgage Loans during the related Collection Period; (iv) in the case of Post
Determination Date Mortgage Loans and Post Collection Period Loans, the payments
(including the principal portion of Balloon Payments) that are due, or deemed
due, as the case may be, for their respective Due Dates occurring during the
month in which such Distribution Date occurs to the extent such amounts are
received or advanced) and that were identified and applied by the Master
Servicer as recoveries of principal thereof; and (v) in the case of the
Distribution Date in July 2002, the principal portion of the Additional Initial
Deposit.

            "PRINCIPAL LOANS" means, collectively, those Mortgage Loans sold to
the Depositor pursuant to Mortgage Loan Purchase Agreement III and shown on
Schedule III hereto.

            "PRINCIPAL PREPAYMENT" means any voluntary or involuntary payment or
collection of principal on a Mortgage Loan or One Seaport Plaza Companion Loan
which is received or recovered in advance of its scheduled Due Date and applied
to reduce the Principal Balance of the Mortgage Loan or One Seaport Plaza
Companion Loan in advance of its scheduled Due Date, including, without
limitation, all proceeds, to the extent allocable to principal, received from
the payment of cash in connection with a substitution shortfall pursuant to
Section 2.3; provided that the pledge by a Mortgagor of Defeasance Collateral
with respect to a Defeasance Loan shall not be deemed to be a Principal
Prepayment.

            "PRIVATE PLACEMENT MEMORANDUM" means the Private Placement
Memorandum dated June 19, 2002, pursuant to which the Class X-1, Class X-2,
Class E, Class F, Class G, Class H, Class J, Class K, Class L, Class M, Class N
and Class O Certificates will be offered for sale.

            "PROSPECTUS" has the meaning set forth in the Preliminary Statement
hereto.

            "PTCE" has the meaning set forth in Section 3.3(d).

            "PURCHASE PRICE" means, with respect to (i) the repurchase by the
applicable Seller of a Mortgage Loan sold by such Seller pursuant to Article II
of this Agreement, (ii) the liquidation by the Special Servicer of an REO
Mortgage Loan pursuant to Section 9.15 or (iii) the purchase by the Option
Holder of a Mortgage Loan pursuant to Section 9.36 under the circumstances
described therein, a price equal to the sum of (A) 100% of the unpaid Principal
Balance of such Mortgage Loan (or deemed Principal Balance, in the case of an
REO Mortgage Loan), plus (B) accrued but unpaid interest thereon calculated at
the Mortgage Rate to, but not including, the Due Date in the Collection Period
(or in the case of Post Determination Date Mortgage Loans or Post Collection
Period Loans, the Due Date occurring in the month in which the related
Collection Period ends) in which such purchase occurs, plus (C) the amount of
any expenses related to such Mortgage Loan and/or (if applicable) its related
One Seaport Plaza Companion Loan or the related REO Property (including any
Servicing Advances and Advance Interest (which have not been paid by the
Mortgagor or out of Late Fees or default interest paid by the related Mortgagor
on the related Mortgage Loan and/or (if applicable) its related One Seaport
Plaza Companion Loan) related to such Mortgage Loan and/or (if applicable) its
related One Seaport Plaza Companion Loan and all Special Servicing Fees and
Liquidation Fees paid or payable with respect to the Mortgage Loan and/or (if
applicable) its related One Seaport Plaza Companion Loan) that are reimbursable
or payable to the Master Servicer, the Special Servicer, the Paying Agent, the
Trustee, the Fiscal Agent or, if applicable, the 2002-HQ Master Servicer or the
2002-HQ Special Servicer, plus (D) if such Mortgage Loan is being repurchased or
substituted for by a Seller pursuant to the related Mortgage Loan Purchase
Agreement, all expenses reasonably incurred or to be incurred by the Primary
Servicer, the Master Servicer, the Special Servicer, the Depositor, the Paying
Agent, the Trustee or the Fiscal Agent in respect of the Material Breach or
Material Document Defect giving rise to the repurchase or substitution
obligation (and that are not otherwise included in (C) above).

            "PURCHASE PROCEEDS" means any cash amounts received by the Master
Servicer in connection with: (i) the repurchase of a Mortgage Loan or an REO
Mortgage Loan by a Seller pursuant to Section 2.3, (ii) the purchase by the
Option Holder of a Mortgage Loan pursuant to Section 9.36 or (iii) the purchase
of the Mortgage Loans and REO Properties by the Depositor, the Master Servicer,
the Special Servicer or the holders of the Class R-I Certificates pursuant to
Section 10.1(b).

            "QUALIFIED BIDDER" means (A) as used in section 8.29(c), a Person
qualified to act as successor Master Servicer hereunder pursuant to Section
8.22(b) (including the requirement set forth in Section 8.22(b) that Rating
Agency Confirmation shall have been obtained from each Rating Agency with
respect to such Person) and (B) as used in Section 9.31(c), any Person qualified
to act as successor Special Servicer hereunder pursuant to Section 9.21(b)
(including the requirement set forth in Section 9.21(b) that Rating Agency
Confirmation shall have been obtained form each Rating Agency with respect to
such Person).

            "QUALIFIED INSTITUTIONAL BUYER" means a qualified institutional
buyer qualifying pursuant to Rule 144A.

            "QUALIFIED INSURER" means, (i) with respect to any Mortgage Loan, an
insurance company duly qualified as such under the laws of the state in which
the related Mortgaged Property is located, duly authorized and licensed in such
state to transact the applicable insurance business and to write the insurance,
but in no event rated lower than "A" by Fitch, or if not so rated, then Fitch
has issued a Rating Agency Confirmation, and "A" by S&P if rated by S&P or if
not rated by S&P, then S&P has issued a Rating Agency Confirmation, and (ii)
with respect to the Servicer Errors and Omissions Insurance Policy or Servicer
Fidelity Bond an insurance company that has a claim paying ability no lower than
"A" by Fitch if rated by Fitch, or if not so rated, then rated A:IX by A.M. Best
or Fitch has issued a Rating Agency Confirmation, and "A" by S&P if rated by S&P
or if not rated by S&P, then S&P has issued a Rating Agency Confirmation, or
(iii) in either case, a company not satisfying clause (i) or (ii) but with
respect to which Rating Agency Confirmation is obtained. "Qualified Insurer"
shall also mean any entity that satisfies all of the criteria, other than the
ratings criteria, set forth in one of the foregoing clauses and whose
obligations under the related insurance policy are guaranteed or backed by an
entity that satisfies the ratings criteria set forth in such clause (construed
as if such entity were an insurance company referred to therein).

            "QUALIFYING SUBSTITUTE MORTGAGE LOAN" means, in the case of a
Mortgage Loan substituted for a Deleted Mortgage Loan, a Mortgage Loan which, on
the date of substitution, (i) has an outstanding principal balance, after
deduction of the principal portion of the Scheduled Payment due in the month of
substitution, not in excess of the Principal Balance of the Deleted Mortgage
Loan; provided, however, that, to the extent that the principal balance of such
Mortgage Loan is less than the Principal Balance of the Deleted Mortgage Loan,
then such differential in principal amount, together with interest thereon at
the Mortgage Rate on the related Mortgage Loan from the date as to which
interest was last paid through the last day of the month in which such
substitution occurs, shall be paid by the party effecting such substitution to
the Master Servicer for deposit into the Certificate Account, and shall be
treated as a Principal Prepayment hereunder; (ii) is accruing interest at a rate
of interest at least equal to that of the Deleted Mortgage Loan; (iii) has a
remaining term to stated maturity not greater than, and not more than two years
less than, that of the Deleted Mortgage Loan; (iv) has an original Loan-to-Value
Ratio not higher than that of the Deleted Mortgage Loan and a current
Loan-to-Value Ratio (equal to the outstanding principal balance on the date of
substitution divided by its current Appraised Value) not higher than the current
Loan-to-Value Ratio of the Deleted Mortgage Loan and has a current Debt Service
Coverage Ratio equal to or greater than the current Debt Service Coverage Ratio
of the Deleted Mortgage Loan; (v) will comply with all of the representations
and warranties relating to Mortgage Loans set forth herein, as of the date of
substitution; (vi) has a Phase I Environmental Report relating to the related
Mortgaged Property in its Mortgage Files and such Phase I Environmental Report
does not, in the good faith reasonable judgment of the Special Servicer,
consistent with the Servicing Standard raise material issues that have not been
adequately addressed; (vii) has an engineering report relating to the related
Mortgaged Property in its Mortgage Files and such engineering report does not,
in the good faith reasonable judgment of the Special Servicer, consistent with
the Servicing Standard raise material issues that have not been adequately
addressed; and (viii) as to which the Trustee and the Paying Agent have received
an Opinion of Counsel, at the related Seller's expense, that such Mortgage Loan
is a "qualified replacement mortgage" within the meaning of Section 860G(a)(4)
of the Code; provided that no Mortgage Loan may have a Maturity Date after the
date three years prior to the Final Rated Distribution Date, and provided,
further, that no such Mortgage Loan shall be substituted for a Deleted Mortgage
Loan unless Rating Agency Confirmation is obtained, and provided, further, that
no such Mortgage Loan shall be substituted for a Deleted Mortgage Loan unless
the Operating Adviser shall have approved of such substitution (provided,
however, that such approval of the Operating Adviser may not be unreasonably
withheld). In the event that either one mortgage loan is substituted for more
than one Deleted Mortgage Loan or more than one mortgage loan is substituted for
one or more Deleted Mortgage Loans, then (A) the Principal Balance referred to
in clause (i) above shall be determined on the basis of aggregate Principal
Balances and (B) the rates referred to in clause (i) above and the remaining
term to stated maturity referred to in clause (iii) above shall be determined on
a weighted average basis. Whenever a Qualifying Substitute Mortgage Loan is
substituted for a Deleted Mortgage Loan pursuant to this Agreement, the party
effecting such substitution shall certify that such Mortgage Loan meets all of
the requirements of this definition and shall send such certification to the
Paying Agent, which shall deliver a copy of such certification to the Master
Servicer, the Special Servicer, the Trustee and the Operating Adviser promptly,
and in any event within five Business Days following the Paying Agent's receipt
of such certification.

            "RATING AGENCIES" means Fitch and S&P.

            "RATING AGENCY CONFIRMATION" means, with respect to any matter,
confirmation in writing by each Rating Agency (or such Rating Agency as is
specified herein) that a proposed action, failure to act, or other event
specified herein will not in and of itself result in the withdrawal, downgrade,
or qualification, as applicable, of the then-current rating assigned by such
Rating Agency to any Class of Certificates then rated by such Rating Agency.

            "REALIZED INTEREST LOSS" means, with respect to each Mortgage Loan,
(i) in the case of a Liquidation Realized Loss, the portion of any Liquidation
Realized Loss that exceeds the Realized Principal Loss on the related Mortgage
Loan, (ii) in the case of a Bankruptcy Loss, the portion of such Realized Loss
attributable to accrued interest on the related Mortgage Loan, (iii) in the case
of an Expense Loss, an Expense Loss resulting in any period from the payment of
the Special Servicing Fee and any Expense Losses set forth in the last sentence
of the definition of "Realized Principal Loss" or (iv) in the case of a
Modification Loss, a Modification Loss described in clause (iii) of the
definition thereof.

            "REALIZED LOSS" means a Liquidation Realized Loss, a Modification
Loss, a Bankruptcy Loss or an Expense Loss with respect to a Mortgage Loan.
Realized Losses on a Mortgage Loan are allocated first to the Principal Balance
of, and then to interest on such Mortgage Loan.

            "REALIZED PRINCIPAL LOSS" means, with respect to each Mortgage Loan,
(i) in the case of a Liquidation Realized Loss, the amount of such Realized
Loss, to the extent that it does not exceed the Principal Balance of the
Mortgage Loan (or deemed Principal Balance, in the case of REO Property), (ii)
in the case of a Modification Loss, the amount of such Modification Loss
described in clause (i) of the definition thereof, (iii) in the case of a
Bankruptcy Loss, the portion of such Realized Loss attributable to the reduction
in the Principal Balance of the related Mortgage Loan, and (iv) in the case of
an Expense Loss, the portion thereof not treated as a Realized Interest Loss.
Notwithstanding clause (iv) of the preceding sentence, to the extent that
Expense Losses (exclusive of Expense Losses resulting from payment of the
Special Servicing Fee) exceed amounts with respect to the Mortgage Loans that
were identified as allocable to principal, such excess shall be treated as a
Realized Interest Loss.

            "RECORD DATE" means, for each Distribution Date and each Class of
Certificates, the close of business on the last Business Day of the month
immediately preceding the month in which such Distribution Date occurs.

            "RECOVERIES" means, as of any Distribution Date, any amounts
recovered with respect to a Mortgage Loan, One Seaport Plaza Companion Loan or
REO Property following the period in which a Final Recovery Determination occurs
plus other amounts defined as "Recoveries" herein.

            "REGULATION S" means Regulation S under the 1933 Act.

            "REGULATION S CERTIFICATE" means a written certification
substantially in the form set forth in Exhibit F hereto certifying that a
beneficial owner of an interest in a Regulation S Temporary Global Certificate
is not a U.S. Person (as defined in Regulation S).

            "REGULATION S GLOBAL CERTIFICATES" means the Regulation S Permanent
Global Certificates together with the Regulation S Temporary Global
Certificates.

            "REGULATION S PERMANENT GLOBAL CERTIFICATE" means any single
permanent global Certificate, in definitive, fully registered form without
interest coupons received in exchange for a Regulation S Temporary Global
Certificate.

            "REGULATION S TEMPORARY GLOBAL CERTIFICATE" means, with respect to
any Class of Certificates offered and sold outside of the United States in
reliance on Regulation S, a single temporary global Certificate, in definitive,
fully registered form without interest coupons.

            "REHABILITATED MORTGAGE LOAN" means any Specially Serviced Mortgage
Loan with respect to which (i) three consecutive Scheduled Payments have been
made (in the case of any such Mortgage Loan or One Seaport Plaza Companion Loan
that was modified, based on the modified terms), or a complete defeasance shall
have occurred, (ii) no other Servicing Transfer Event has occurred and is
continuing (or with respect to determining whether a Required Appraisal Loan is
a Rehabilitated Mortgage Loan for applying Appraisal Reductions, no other
Appraisal Event has occurred and is continuing) and (iii) the Trust has been
reimbursed for all costs incurred as a result of the occurrence of a Servicing
Transfer Event or such amounts have been forgiven. The One Seaport Plaza Pari
Passu Loan shall not constitute a Rehabilitated Mortgage Loan unless the One
Seaport Plaza Companion Loan would constitute a Rehabilitated Mortgage Loan. The
One Seaport Plaza Companion Loan shall not constitute a Rehabilitated Mortgage
Loan unless the One Seaport Plaza Pari Passu Loan also would constitute a
Rehabilitated Mortgage Loan.

            "RELEASE DATE" means the date 40 days after the later of (i) the
commencement of the offering of the Certificates and (ii) the Closing Date.

            "REMIC" means a real estate mortgage investment conduit within the
meaning of Section 860D of the Code.

            "REMIC I" means the segregated pool of assets consisting of the
Mortgage Loans, such amounts as shall from time to time be held in the
Certificate Account, the Interest Reserve Account and the Distribution Account,
the Insurance Policies (other than the interests of the holder of any One
Seaport Plaza Companion Loan), the principal and interest portions of the
Additional Initial Deposit (but not the prepayment yield amount portion thereof)
and any REO Properties (other than the interests of the holder of any One
Seaport Plaza Companion Loan), for which a REMIC election has been made pursuant
to Section 12.1(a) hereof. The 2002-HQ Mortgage Loan and any amounts payable
thereon shall not constitute an asset of the Trust or any REMIC Pool formed
hereunder. No One Seaport Plaza Companion Loan or any payments payable thereon
shall constitute an asset of the Trust or any REMIC Pool formed hereunder.

            "REMIC I INTERESTS" means, collectively, the REMIC I Regular
Interests and the Class R-I Certificates.

            "REMIC I NET MORTGAGE RATE" means, with respect to any Distribution
Date, as to any REMIC I Regular Interest, a rate per annum equal to the Adjusted
Mortgage Rate for the related Mortgage Loan for such Distribution Date (based on
the Mortgage Rate thereof, as of the Cut-Off Date and without regard to any
modification, waiver or amendment of the terms thereof following the Cut-Off
Date).

            "REMIC I REGULAR INTERESTS" means, collectively, the uncertificated
interests designated as "regular interests" in REMIC I, which shall consist of,
with respect to each Mortgage Loan, an interest having an initial Certificate
Balance equal to the Cut-Off Date Scheduled Principal Balance of such Mortgage
Loan, and which has a Pass-Through Rate equal to the REMIC I Net Mortgage Rate
of such Mortgage Loan.

            "REMIC II" means the segregated pool of assets consisting of the
REMIC I Regular Interests for which a REMIC election has been made pursuant to
Section 12.1(a) hereof.

            "REMIC II INTERESTS" means, collectively, the REMIC II Regular
Interests and the Class R-II Certificates.

            "REMIC II REGULAR INTEREST A-1A" means the uncertificated interest
designated as a "regular interest" in REMIC II, which shall consist of an
interest having initial Certificate Balance equal to $59,400,000, and which has
a Pass-Through Rate equal to the Weighted Average REMIC I Net Mortgage Rate.

            "REMIC II REGULAR INTEREST A-1B" means the uncertificated interest
designated as a "regular interest" in REMIC II, which shall consist of an
interest having initial Certificate Balance equal to $47,100,000, and which has
a Pass-Through Rate equal to the Weighted Average REMIC I Net Mortgage Rate.

            "REMIC II REGULAR INTEREST A-1C" means the uncertificated interest
designated as a "regular interest" in REMIC II, which shall consist of an
interest having initial Certificate Balance equal to $11,500,000, and which has
a Pass-Through Rate equal to the Weighted Average REMIC I Net Mortgage Rate.

            "REMIC II REGULAR INTEREST A-2A" means the uncertificated interest
designated as a "regular interest" in REMIC II, which shall consist of an
interest having an initial Certificate Balance equal to $31,700,000, and which
has a Pass-Through Rate equal to the Weighted Average REMIC I Net Mortgage Rate.

            "REMIC II REGULAR INTEREST A-2B" means the uncertificated interest
designated as a "regular interest" in REMIC II, which shall consist of an
interest having an initial Certificate Balance equal to $73,800,000, and which
has a Pass-Through Rate equal to the Weighted Average REMIC I Net Mortgage Rate.

            "REMIC II REGULAR INTEREST A-2C" means the uncertificated interest
designated as a "regular interest" in REMIC II, which shall consist of an
interest having an initial Certificate Balance equal to $26,000,000, and which
has a Pass-Through Rate equal to the Weighted Average REMIC I Net Mortgage Rate.

            "REMIC II REGULAR INTEREST A-3A" means the uncertificated interest
designated as a "regular interest" in REMIC II, which shall consist of an
interest having an initial Certificate Balance equal to $36,600,000, and which
has a Pass-Through Rate equal to the Weighted Average REMIC I Net Mortgage Rate.

            "REMIC II REGULAR INTEREST A-3B" means the uncertificated interest
designated as a "regular interest" in REMIC II, which shall consist of an
interest having an initial Certificate Balance equal to $57,700,000, and which
has a Pass-Through Rate equal to the Weighted Average REMIC I Net Mortgage Rate.

            "REMIC II REGULAR INTEREST A-3C" means the uncertificated interest
designated as a "regular interest" in REMIC II, which shall consist of an
interest having an initial Certificate Balance equal to $56,700,000, and which
has a Pass-Through Rate equal to the Weighted Average REMIC I Net Mortgage Rate.

            "REMIC II REGULAR INTEREST A-4" means the uncertificated interest
designated as a "regular interest" in REMIC II, which shall consist of an
interest having a Certificate Balance equal to the Aggregate Certificate Balance
of the Class A-4 Certificates, and which has a Pass-Through Rate equal to the
Weighted Average REMIC I Net Mortgage Rate.

            "REMIC II REGULAR INTEREST B" means the uncertificated interest
designated as a "regular interest" in REMIC II, which shall consist of an
interest having a Certificate Balance equal to the Aggregate Certificate Balance
of the Class B Certificates, and which has a Pass-Through Rate equal to the
Weighted Average REMIC I Net Mortgage Rate.

            "REMIC II REGULAR INTEREST C-1" means the uncertificated interest
designated as a "regular interest" in REMIC II, which shall consist of an
interest having an initial Certificate Balance equal to $8,830,000, and which
has a Pass-Through Rate equal to the Weighted Average REMIC I Net Mortgage Rate.

            "REMIC II REGULAR INTEREST C-2" means the uncertificated interest
designated as a "regular interest" in REMIC II, which shall consist of an
interest having an initial Certificate Balance equal to $15,500,000, and which
has a Pass-Through Rate equal to the Weighted Average REMIC I Net Mortgage Rate.

            "REMIC II REGULAR INTEREST D" means the uncertificated interest
designated as a "regular interest" in REMIC II, which shall consist of an
interest having a Certificate Balance equal to the Aggregate Certificate Balance
of the Class D Certificates, and which has a Pass-Through Rate equal to the
Weighted Average REMIC I Net Mortgage Rate.

            "REMIC II REGULAR INTEREST E-1" means the uncertificated interest
designated as a "regular interest" in REMIC II, which shall consist of an
interest having an initial Certificate Balance equal to $5,186,000, and which
has a Pass-Through Rate equal to the Weighted Average REMIC I Net Mortgage Rate.

            "REMIC II REGULAR INTEREST E-2" means the uncertificated interest
designated as a "regular interest" in REMIC II, which shall consist of an
interest having an initial Certificate Balance equal to $2,600,000, and which
has a Pass-Through Rate equal to the Weighted Average REMIC I Net Mortgage Rate.

            "REMIC II REGULAR INTEREST F-1" means the uncertificated interest
designated as a "regular interest" in REMIC II, which shall consist of an
interest having an initial Certificate Balance equal to $685,000, and which has
a Pass-Through Rate equal to the Weighted Average REMIC I Net Mortgage Rate.

            "REMIC II REGULAR INTEREST F-2" means the uncertificated interest
designated as a "regular interest" in REMIC II, which shall consist of an
interest having an initial Certificate Balance equal to $7,100,000, and which
has a Pass-Through Rate equal to the Weighted Average REMIC I Net Mortgage Rate.

            "REMIC II REGULAR INTEREST G" means the uncertificated interest
designated as a "regular interest" in REMIC II, which shall consist of an
interest having a Certificate Balance equal to the Aggregate Certificate Balance
of the Class G Certificates, and which has a Pass-Through Rate equal to the
Weighted Average REMIC I Net Mortgage Rate.

            "REMIC II REGULAR INTEREST H-1" means the uncertificated interest
designated as a "regular interest" in REMIC II, which shall consist of an
interest having an initial Certificate Balance equal to $2,532,000, and which
has a Pass-Through Rate equal to the Weighted Average REMIC I Net Mortgage Rate.

            "REMIC II REGULAR INTEREST H-2" means the uncertificated interest
designated as a "regular interest" in REMIC II, which shall consist of an
interest having an initial Certificate Balance equal to $7,200,000, and which
has a Pass-Through Rate equal to the Weighted Average REMIC I Net Mortgage Rate

            "REMIC II REGULAR INTEREST J" means the uncertificated interest
designated as a "regular interest" in REMIC II, which shall consist of an
interest having a Certificate Balance equal to the Aggregate Certificate Balance
of the Class J Certificates, and which has a Pass-Through Rate equal to the
Weighted Average REMIC I Net Mortgage Rate.

            "REMIC II REGULAR INTEREST K" means the uncertificated interest
designated as a "regular interest" in REMIC II, which shall consist of an
interest having a Certificate Balance equal to the Aggregate Certificate Balance
of the Class K Certificates, and which has a Pass-Through Rate equal to the
Weighted Average REMIC I Net Mortgage Rate.

            "REMIC II REGULAR INTEREST L" means the uncertificated interest
designated as a "regular interest" in REMIC II, which shall consist of an
interest having a Certificate Balance equal to the Aggregate Certificate Balance
of the Class L Certificates, and which has a Pass-Through Rate equal to the
Weighted Average REMIC I Net Mortgage Rate.

            "REMIC II REGULAR INTEREST M" means the uncertificated interest
designated as a "regular interest" in REMIC II, which shall consist of an
interest having a Certificate Balance equal to the Aggregate Certificate Balance
of the Class M Certificates, and which has a Pass-Through Rate equal to the
Weighted Average REMIC I Net Mortgage Rate.

            "REMIC II REGULAR INTEREST N" means the uncertificated interest
designated as a "regular interest" in REMIC II, which shall consist of an
interest having a Certificate Balance equal to the Aggregate Certificate Balance
of the Class N Certificates, and which has a Pass-Through Rate equal to the
Weighted Average REMIC I Net Mortgage Rate.

            "REMIC II REGULAR INTEREST O" means the uncertificated interest
designated as a "regular interest" in REMIC II, which shall consist of an
interest having a Certificate Balance equal to the Aggregate Certificate Balance
of the Class O Certificates, and which has a Pass-Through Rate equal to the
Weighted Average REMIC I Net Mortgage Rate.

            "REMIC II REGULAR INTERESTS" means, collectively, the REMIC II
Regular Interest A-1A, REMIC II Regular Interest A-1B, REMIC II Regular Interest
A-1C, REMIC II, REMIC II Regular Interest A-2A, REMIC II Regular Interest A-2B,
REMIC II Regular Interest A-2C, REMIC II Regular Interest A-3A, REMIC II Regular
Interest A-3B, REMIC II Regular Interest A-3C, REMIC II Regular Interest A-4,
REMIC II Regular Interest B, REMIC II Regular Interest C-1, REMIC II Regular
Interest C-2, REMIC II Regular Interest D, REMIC II Regular Interest E-1, REMIC
II Regular Interest E-2, REMIC II Regular Interest F-1, REMIC II Regular
Interest F-2, REMIC II Regular Interest G, REMIC II Regular Interest H-1, REMIC
II Regular Interest H-2, REMIC II Regular Interest J, REMIC II Regular Interest
K, REMIC II Regular Interest L, REMIC II Regular Interest M, REMIC II Regular
Interest N and REMIC II Regular Interest O.

            "REMIC III" means the segregated pool of assets consisting of the
REMIC II Regular Interests for which a REMIC election has been made pursuant to
Section 12.1(a) hereof.

            "REMIC III CERTIFICATES" has the meaning set forth in the final
paragraph of the Preliminary Statement hereto.

            "REMIC III REGULAR INTERESTS" means, collectively, the Class A-1
Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4
Certificates, Class B Certificates, Class C Certificates, Class D Certificates,
Class E Certificates, Class F Certificates, Class G Certificates, Class H
Certificates, Class J Certificates, Class K Certificates, Class L Certificates,
Class M Certificates, Class N Certificates and Class O Certificates and each of
the regular interests comprising the Class X-1 and Class X-2 Certificates
identified in the Preliminary Statement hereto.

            "REMIC POOL" means each of the three segregated pools of assets
designated as a REMIC pursuant to Section 12.1(a) hereof.

            "REMIC PROVISIONS" means the provisions of the federal income tax
law relating to real estate mortgage investment conduits, which appear at
Sections 860A through 860G of Subchapter M of Chapter 1 of the Code, and related
provisions, and final, temporary and proposed regulations and rulings
promulgated thereunder, as the foregoing may be in effect from time to time and
taking account, as appropriate, of any proposed legislation or regulations
which, as proposed, would have an effective date prior to enactment or
promulgation thereof.

            "REMIC REGULAR CERTIFICATES" means, collectively, the Class A-1,
Class A-2, Class A-3, Class A-4, Class X-1, Class X-2, Class B, Class C, Class
D, Class E, Class F, Class G, Class H, Class J, Class K, Class L, Class M, Class
N and Class O Certificates.

            "RENT LOSS POLICY" or "RENT LOSS INSURANCE" means a policy of
insurance generally insuring against loss of income or rent resulting from
hazards or acts of God.

            "RENTS FROM REAL PROPERTY" means, with respect to any REO Property,
income of the character described in Section 856(d) of the Code.

            "REO ACCOUNT" shall have the meaning set forth in Section 9.14(a)
hereof.

            "REO DISPOSITION" means the receipt by the Master Servicer or the
Special Servicer of Liquidation Proceeds and other payments and recoveries
(including proceeds of a final sale) from the sale or other disposition of REO
Property.

            "REO INCOME" means, with respect to any REO Property that had not
been security for the One Seaport Plaza Loan Pair for any Collection Period, all
income received in connection with such REO Property during such period less any
operating expenses, utilities, real estate taxes, management fees, insurance
premiums, expenses for maintenance and repairs and any other capital expenses
directly related to such REO Property paid during such period or, with respect
to an REO Property that had been security for the One Seaport Plaza Loan Pair,
the portion of the amounts described above received with respect to such REO
Property and allocable to the One Seaport Plaza Pari Passu Loan pursuant to the
One Seaport Plaza Intercreditor Agreement. With respect to the Woodfield Pari
Passu Loan (if the 2002-HQ Special Servicer has foreclosed upon the Mortgaged
Property secured by the Woodfield Pari Passu Mortgage), the REO Income shall
comprise only such portion of the foregoing that is payable to the holder of the
Woodfield Pari Passu Loan.

            "REO MORTGAGE LOAN" means a Mortgage Loan or One Seaport Plaza
Companion Loan as to which the related Mortgaged Property is an REO Property.

            "REO PROPERTY" means a Mortgaged Property (or an interest therein,
if the Mortgaged Property securing the One Seaport Plaza Loan Pair or the
Woodfield Pari Passu Loan and the 2002-HQ Mortgage Loan has been acquired by the
Trust) acquired by the Trust through foreclosure, deed-in-lieu of foreclosure,
abandonment or reclamation from bankruptcy in connection with a Defaulted
Mortgage Loan or otherwise treated as foreclosure property under the REMIC
Provisions.

            "REPORT DATE" means the end of business on the third Business Day
before the related Distribution Date.

            "REPURCHASED LOAN" has the meaning set forth in Section 2.3(a)
hereof.

            "REQUEST FOR RELEASE" means a request for release of certain
documents relating to the Mortgage Loans, a form of which is attached hereto as
Exhibit C.

            "REQUIRED APPRAISAL LOAN" means any Mortgage Loan as to which an
Appraisal Event has occurred. A Mortgage Loan will cease to be a Required
Appraisal Loan at such time as it is a Rehabilitated Mortgage Loan.

            "RESERVE ACCOUNT" shall mean the Reserve Account maintained by the
Paying Agent in accordance with the provisions of Section 5.3, which shall be an
Eligible Account.

            "RESIDUAL CERTIFICATES" means, with respect to REMIC I, the Class
R-I Certificates, with respect to REMIC II, the Class R-II Certificates, and
with respect to REMIC III, the Class R-III Certificates.

            "RESPONSIBLE OFFICER" means, when used with respect to the initial
Trustee or the Fiscal Agent, any officer assigned to the Asset-Backed Securities
Trust Services Group, or with respect to the Paying Agent, any officer assigned
to the Asset-Backed Securities Trust Services Group, each with specific
responsibilities for the matters contemplated by this Agreement and when used
with respect to any successor Trustee, Fiscal Agent or Paying Agent, any Vice
President, Assistant Vice President, corporate trust officer or any assistant
corporate trust officer or persons performing similar roles on behalf of the
Trustee, Fiscal Agent or Paying Agent.

            "RESTRICTED SERVICER REPORTS" means the following reports in CMSA
format (as in effect on the date hereof or as such formats may be subsequently
adopted from time to time by the CMSA) in, and containing substantially the
information contemplated by, the forms attached hereto as part of Exhibit W
prepared by the Master Servicer and combining reports and/or data in such forms
prepared by the Special Servicer (with respect to Specially Serviced Mortgage
Loans and REO Properties): (i) a Comparative Financial Status Report; (ii)
without duplication with Section 8.14, an NOI Adjustment Worksheet; (iii)
without duplication with Section 8.14, an Operating Statement Analysis Report,
(iv) subject to Section 8.11(h), a Servicer Watch List, (v) a Property File and
(vi) without duplication with Section 8.14, a Financial File.

            "REVERSE SEQUENTIAL ORDER" means sequentially to the Class O, Class
N, Class M, Class L, Class K, Class J, Class H, Class G, Class F, Class E, Class
D, Class C, Class B and Class A Certificates.

            "RULE 144A" means Rule 144A under the 1933 Act.

            "RULE 144A-IAI GLOBAL CERTIFICATE" means, with respect to any Class
of Certificates offered and sold in reliance on Rule 144A or to certain
Institutional Accredited Investors, a single, permanent global Certificate, in
definitive, fully registered form without interest coupons.

            "S&P" means Standard & Poor's Ratings Services, a division of The
McGraw Hill Companies, Inc. or its successor in interest.

            "SCHEDULED PAYMENT" means each scheduled payment of principal of,
and/or interest on, a Mortgage Loan or One Seaport Plaza Companion Loan required
to be paid on its Due Date by the Mortgagor in accordance with the terms of the
related Mortgage Note or One Seaport Plaza Companion Loan (excluding all amounts
of principal and interest which were due on or before the Cut-Off Date, whenever
received, and taking account of any modifications thereof and the effects of any
Debt Service Reduction Amounts and Deficient Valuation Amounts). Notwithstanding
the foregoing, the amount of the Scheduled Payment for the One Seaport Plaza
Pari Passu Loan or One Seaport Plaza Companion Loan shall be calculated without
regard to the One Seaport Plaza Intercreditor Agreement.

            "SCHEDULED PRINCIPAL BALANCE" means, with respect to any Mortgage
Loan, One Seaport Plaza Companion Loan or REO Mortgage Loan, for purposes of
performing calculations with respect to any Distribution Date, the Principal
Balance thereof minus the aggregate amount of any P&I Advances of principal
previously made with respect to such Mortgage Loan, One Seaport Plaza Companion
Loan or REO Mortgage Loan.

            "SELLER" means JHREF, MSDWMC, Principal, State Farm or TIAA, as the
case may be.

            "SENIOR CERTIFICATES" means the Class A and Class X Certificates.

            "SERVICER ERRORS AND OMISSIONS INSURANCE POLICY" or "ERRORS AND
OMISSIONS INSURANCE POLICY" means an errors and omissions insurance policy
maintained by the Master Servicer, the Special Servicer, the Trustee, the Fiscal
Agent or the Paying Agent, as the case may be, in accordance with Section 8.2,
Section 9.2 and Section 7.17, respectively.

            "SERVICER FIDELITY BOND" or "FIDELITY BOND" means a bond or
insurance policy under which the insurer agrees to indemnify the Master
Servicer, the Special Servicer, the Trustee, the Fiscal Agent or the Paying
Agent, as the case may be, (subject to standard exclusions) for all losses (less
any deductible) sustained as a result of any theft, embezzlement, fraud or other
dishonest act on the part of the Master Servicer's, the Special Servicer's, the
Fiscal Agent's, the Trustee's or the Paying Agent's, as the case may be,
directors, officers or employees and is maintained in accordance with Section
8.2, Section 9.2 and Section 7.17, respectively.

            "SERVICER MORTGAGE FILE" means copies of the mortgage documents
listed in the definition of Mortgage File relating to a Mortgage Loan and shall
also include, to the extent required to be (and actually) delivered to the
Master Servicer (or any Primary Servicer acting on behalf of the Master
Servicer) by the applicable Seller pursuant to the applicable Mortgage Loan
Purchase Agreement, copies of the following items: the Mortgage Note, any
Mortgage, the Assignment of Leases and the Assignment of Mortgage, any
guaranty/indemnity agreement, any loan agreement, any insurance policies or
certificates (as applicable), any property inspection reports, any financial
statements on the property, any escrow analysis, any tax bills, any Appraisal,
any environmental report, any engineering report, any asset summary, financial
information on the Mortgagor/sponsor and any guarantors, any letters of credit,
any intercreditor agreement and any Environmental Insurance Policies.

            "SERVICING ADVANCE" means any cost or expense of the Master
Servicer, the Special Servicer, the Trustee or the Fiscal Agent, as the case may
be, designated as a Servicing Advance pursuant to this Agreement and any other
costs and expenses incurred by or for the Master Servicer, the Special Servicer,
the Fiscal Agent or the Trustee, as the case may be, to protect and preserve the
security for such Mortgage Loan and/or (if applicable) the One Seaport Plaza
Companion Loan.

            "SERVICING OFFICER" means, any officer or employee of the Master
Servicer involved in, or responsible for, the administration and servicing of
the Mortgage Loans and the One Seaport Plaza Companion Loan whose name and
specimen signature appear on a list of servicing officers or employees furnished
to the Trustee by the Master Servicer and signed by an officer of the Master
Servicer, as such list may from time to time be amended.

            "SERVICING STANDARD" means, with respect to the Master Servicer and
the Special Servicer the higher of the following standards of care:

            (i) the same manner in which and with the same care, skill, prudence
and diligence with which the Master Servicer or the Special Servicer, as the
case may be, services and administers similar mortgage loans for other
third-party portfolios, giving due consideration to customary and usual
standards of practice of prudent institutional commercial mortgage lenders
servicing their own mortgage loans and to the maximization of the net present
value of the mortgage loans; or

            (ii) the care, skill, prudence and diligence the Master Servicer or
the Special Servicer, as the case may be, uses for loans which it owns and which
are similar to the Mortgage Loans (or the One Seaport Plaza Companion Loan),
giving due consideration to the maximization of the net present value of the
mortgage loans;

            but without regard to: (I) any other relationship that the Master
Servicer, the Special Servicer, any Primary Servicer, any Sub-Servicer, the
Depositor or the Trustee, or any Affiliate of any of them may have with the
related Mortgagor or any Affiliate of the Mortgagor, the Depositor or Seller;
(II) the ownership of any Certificate by the Master Servicer, any Primary
Servicer, any Sub-Servicer, the Special Servicer or any Affiliate of any of
them; (III) the Master Servicer's or the Trustee's obligation to make P&I
Advances and Servicing Advances as specified herein or to incur servicing
expenses (subject to the terms of this Agreement regarding the making or
collection of Nonrecoverable Advances); (IV) the Master Servicer's, any Primary
Servicer's, any Sub-Servicer's or the Special Servicer's right to receive
compensation for its services hereunder or with respect to any particular
transaction; (V) the ownership or servicing or management for others by the
Master Servicer, any Primary Servicer, any Sub-Servicer or the Special Servicer
of any other mortgage loans or property; (VI) any obligation of the Master
Servicer or the Special Servicer or an Affiliate thereof to pay any indemnity
with respect to any repurchase obligation; (VII) the ownership of any
indebtedness of any Mortgagor or Affiliate of any Mortgagor by the Master
Servicer, any Primary Servicer, any Sub-Servicer or the Special Servicer or any
Affiliate; or (VIII) any obligation of any Seller to repurchase any Mortgage
Loan pursuant to any Mortgage Loan Purchase Agreement.

            "SERVICING TRANSFER EVENT" means the occurrence of any of the
following events: (i) any Mortgage Loan or One Seaport Plaza Companion Loan as
to which a Balloon Payment is past due, and the Master Servicer has determined,
in its good faith reasonable judgment in accordance with the Servicing Standard,
that payment is unlikely to be made on or before the 60th day succeeding the
date the Balloon Payment was due, or any other payment is more than 60 days past
due or has not been made on or before the second Due Date following the Due Date
such payment was due; (ii) any Mortgage Loan or One Seaport Plaza Companion Loan
as to which, to the Master Servicer's knowledge, the Mortgagor has consented to
the appointment of a receiver or conservator in any insolvency or similar
proceeding of, or relating to, such Mortgagor or to all or substantially all of
its property, or the Mortgagor has become the subject of a decree or order
issued under a bankruptcy, insolvency or similar law and such decree or order
shall have remained undischarged, undismissed or unstayed for a period of 30
days; (iii) any Mortgage Loan or One Seaport Plaza Companion Loan as to which
the Master Servicer shall have received notice of the foreclosure or proposed
foreclosure of any other lien on the Mortgaged Property; (iv) any Mortgage Loan
or One Seaport Plaza Companion Loan as to which the Master Servicer has
knowledge of a default (other than a failure by the related Mortgagor to pay
principal or interest) which in the good faith reasonable judgment of the Master
Servicer materially and adversely affects the interests of the
Certificateholders or the holder of any related One Seaport Plaza Companion Loan
and which has occurred and remains unremedied for the applicable grace period
specified in such Mortgage Loan (or, if no grace period is specified, 60 days);
(v) any Mortgage Loan or One Seaport Plaza Companion Loan as to which the
Mortgagor admits in writing its inability to pay its debts generally as they
become due, files a petition to take advantage of any applicable insolvency or
reorganization statute, makes an assignment for the benefit of its creditors or
voluntarily suspends payment of its obligations; and (vi) any Mortgage Loan or
One Seaport Plaza Companion Loan as to which, in the good faith reasonable
judgment of the Master Servicer, (a) a payment default is imminent or is likely
to occur within 60 days, or (b) any other default is imminent or is likely to
occur within 60 days and such default, in the judgment of the Master Servicer,
is reasonably likely to materially and adversely affect the interests of the
Certificateholders or the holder of any the One Seaport Plaza Companion Loan. If
a Servicing Transfer Event occurs with respect to the One Seaport Plaza Pari
Passu Loan, it shall be deemed to have occurred also with respect to the One
Seaport Plaza Companion Loan. If a Servicing Transfer Event occurs with respect
to any One Seaport Plaza Companion Loan, it shall be deemed to have occurred
also with respect to the One Seaport Plaza Pari Passu Loan.

            "SIMILAR LAW" has the meaning set forth in Section 3.3(d).

            "SINGLE-PURPOSE ENTITY" means a Person, other than an individual,
whose organizational documents provide substantially to the effect that it is
formed or organized solely for the purpose of owning and collecting payments
from Defeasance Collateral for the benefit of the Trust and which (i) does not
engage in any business unrelated thereto and the financing thereof; (ii) does
not have any assets other than those related to its interest in Defeasance
Collateral; (iii) maintains its own books, records and accounts, in each case
which are separate and apart from the books, records and accounts of any other
Person; (iv) conducts business in its own name and uses separate stationery,
invoices and checks; (v) does not guarantee or assume the debts or obligations
of any other Person; (vi) does not commingle its assets or funds with those of
any other Person; (vii) transacts business with affiliates on an arm's length
basis pursuant to written agreements; and (viii) holds itself out as being a
legal entity, separate and apart from any other Person, and otherwise complies
with the single-purpose requirements established by the Rating Agencies. The
entity's organizational documents also provide that any dissolution and winding
up or insolvency filing for such entity requires the unanimous consent of all
partners or members, as applicable, and that such documents may not be amended
with respect to the Single-Purpose Entity requirements.

            "SPECIAL SERVICER" means Lend Lease Asset Management, L.P., or any
successor Special Servicer as herein provided, including without limitation any
successor Special Servicer appointed pursuant to Section 9.39 hereof.

            "SPECIAL SERVICER COMPENSATION" means, with respect to any
applicable period, the sum of the Special Servicing Fees, the Special Servicing
Stand-by Fees, the Liquidation Fees and Work-Out Fees and any other amounts to
be paid to the Special Servicer pursuant to the terms of this Agreement.

            "SPECIAL SERVICER REMITTANCE DATE" means the Business Day preceding
each Determination Date.

            "SPECIAL SERVICING FEE" means, for each calendar month, as to each
Mortgage Loan or One Seaport Plaza Companion Loan (other than the Woodfield Pari
Passu Loan) that is a Specially Serviced Mortgage Loan (including REO Mortgage
Loans), the fraction or portion of the Special Servicing Fee Rate applicable to
such month (determined using the same interest accrual methodology that is
applied with respect to the Mortgage Rate for such Mortgage Loan or One Seaport
Plaza Companion Loan for such month) multiplied by the Scheduled Principal
Balance of such Specially Serviced Mortgage Loan immediately before the Due Date
occurring in such month.

            "SPECIAL SERVICING FEE RATE" means 0.25% per annum.

            "SPECIAL SERVICING OFFICER" means any officer or employee of the
Special Servicer involved in, or responsible for, the administration and
servicing of the Specially Serviced Mortgage Loans whose name and specimen
signature appear on a list of servicing officers or employees furnished to the
Trustee, the Paying Agent and the Master Servicer by the Special Servicer signed
by an officer of the Special Servicer, as such list may from time to time be
amended.

            "SPECIAL SERVICING STAND-BY FEE" means, with respect to each
Mortgage Loan (other than the Mortgage Loans identified as Mortgage Loan Nos. 1,
2 and 17-26 on the Mortgage Loan Schedule), an amount equal to (a) the product
of (1) the outstanding Scheduled Principal Balance of such Mortgage Loan, and
(2) the Special Servicing Stand-by Fee Rate, offset by (b) the amount of any
Special Servicing Fee paid to the Special Servicer with respect to such Mortgage
Loan during the previous 12-month period.

            "SPECIAL SERVICING STAND-BY FEE RATE" means one twelfth of 0.003%
per annum, determined in the same manner as the applicable Mortgage Rate is
determined for each Specially Serviced Mortgage Loan for such month.

            "SPECIALLY SERVICED MORTGAGE LOAN" means, as of any date of
determination, any Mortgage Loan (other than (a) the Woodfield Pari Passu Loan
and (b) upon deposit of the Lead One Seaport Plaza Companion Loan into the Other
Securitization, the One Seaport Plaza Pari Passu Loan) or One Seaport Plaza
Companion Loan (unless the Lead One Seaport Plaza Companion Loan has been
deposited into the Other Securitization) with respect to which the Master
Servicer has notified the Special Servicer and the Trustee that a Servicing
Transfer Event has occurred (which notice shall be effective upon receipt) and
the Special Servicer has received all information, documents and records
relating to such Mortgage Loan or One Seaport Plaza Companion Loan as reasonably
requested by the Special Servicer to enable it to assume its duties with respect
to such Mortgage Loan or One Seaport Plaza Companion Loan. A Specially Serviced
Mortgage Loan shall cease to be a Specially Serviced Mortgage Loan from and
after the date on which the Special Servicer notifies the Master Servicer, the
Paying Agent and the Trustee, in accordance with Section 8.1(b), that such
Mortgage Loan (and the related One Seaport Plaza Companion Loan in the case of
the One Seaport Plaza Loan Pair) has become a Rehabilitated Mortgage Loan (and,
in the case of the One Seaport Plaza Pari Passu Loan (or related One Seaport
Plaza Companion Loan) that is or was a Specially Serviced Mortgage Loan, its
related One Seaport Plaza Companion Loan (or the One Seaport Plaza Pari Passu
Loan) has also become a Rehabilitated Mortgage Loan), with respect to such
Servicing Transfer Event, unless and until the Master Servicer notifies the
Special Servicer, the Paying Agent and the Trustee, in accordance with Section
8.1(b) that another Servicing Transfer Event with respect to such Mortgage Loan
or One Seaport Plaza Companion Loan exists or occurs.

            "STANDARD HAZARD INSURANCE POLICY" means a fire and casualty
extended coverage insurance policy in such amount and with such coverage as
required by this Agreement.

            "STATE FARM" has the meaning assigned in the Preliminary Statement
hereto.

            "STATE FARM LOANS" means, collectively, those Mortgage Loans sold to
the Depositor pursuant to the Mortgage Loan Purchase Agreement IV and shown on
Schedule IV hereto.

            "SUB-SERVICER" has the meaning set forth in Section 8.4.

            "SUBORDINATE CERTIFICATES" means, collectively, the Class B, Class
C, Class D, Class E, Class F, Class G, Class H, Class J, Class K, Class L, Class
M, Class N and Class O Certificates.

            "SUCCESSFUL BIDDER" has the meaning set forth in Section 8.29(d) or
Section 9.31(d), as applicable.

            "TAX MATTERS PERSON" means the Person designated as the "tax matters
person" of the related REMIC Pool pursuant to Treasury Regulations Section
1.860F-4(d) and Temporary Treasury Regulations Section 301.6231(a)(7)-1T.

            "TERMINATION PRICE" has the meaning set forth in Section 10.1(b)
herein.

            "TIAA" has the meaning assigned in the Preliminary Statement hereto.

            "TIAA LOANS" means, collectively, those Mortgage Loans sold to the
Depositor pursuant to the Mortgage Loan Purchase Agreement V and shown on
Schedule V hereto.

            "TITLE INSURANCE POLICY" means a title insurance policy maintained
with respect to a Mortgage Loan.

            "TRANSFER" means any direct or indirect transfer, sale, pledge,
hypothecation, or other form of assignment of any Ownership Interest in a
Certificate.

            "TRANSFEREE" means any Person who is acquiring by Transfer any
Ownership Interest in a Certificate.

            "TRANSFEROR" means any Person who is disposing by Transfer any
Ownership Interest in a Certificate.

            "TRUST" means the trust created pursuant to this Agreement, the
assets which consist of all the assets of REMIC I (including the Mortgage Loans,
such amounts as shall from time to time be held in the Certificate Account, the
Distribution Account, the Insurance Policies, any REO Properties and other items
referred to in Section 2.1(a) hereof), REMIC II and REMIC III. The Trust shall
not include the 2002-HQ Mortgage Loan, any One Seaport Plaza Companion Loan, any
interest of the holders of a One Seaport Plaza Companion Loan or any One Seaport
Plaza Companion Loan Custodial Account.

            "TRUSTEE" means LaSalle Bank National Association, as trustee, or
its successor-in-interest, or if any successor trustee, or any co-trustee shall
be appointed as herein provided, then "Trustee" shall also mean such successor
trustee (subject to Section 7.7 hereof) and such co-trustee (subject to Section
7.9 hereof), as the case may be.

            "TRUSTEE FEE" means for each calendar month, as to each Mortgage
Loan (other than the Woodfield Pari Passu Loan) or One Seaport Plaza Companion
Loan (including REO Mortgage Loans and Defeasance Loans), the portion of the
Trustee Fee Rate applicable to such month (determined using the same interest
accrual methodology (other than the rate of accrual) that is applied with
respect to the Mortgage Rate for such Mortgage Loan or One Seaport Plaza
Companion Loan for such month) multiplied by the Scheduled Principal Balance of
each such Mortgage Loan or One Seaport Plaza Companion Loan immediately before
the Due Date occurring in such month, provided that a portion of the Trustee Fee
agreed upon between the Trustee and the Paying Agent shall be applied to pay the
Paying Agent Fee.

            "TRUSTEE FEE RATE" means 0.0027% per annum (which includes the
Paying Agent Fee).

            "TRUSTEE MORTGAGE FILE" means the mortgage documents listed in the
definition of Mortgage File hereof pertaining to a particular Mortgage Loan
(and, if applicable, the related One Seaport Plaza Companion Loan) and any
additional documents required to be added to the Mortgage File pursuant to this
Agreement; provided that whenever the term "Trustee Mortgage File" is used to
refer to documents actually received by the Trustee or a Custodian on its
behalf, such terms shall not be deemed to include such documents required to be
included therein unless they are actually so received.

            "2002-HQ DEPOSITOR" means the "depositor" under the 2002-HQ Pooling
and Servicing Agreement, which as of the date hereof is Morgan Stanley Dean
Witter Capital I Inc.

            "2002-HQ MASTER SERVICER" means the "master servicer" under the
2002-HQ Pooling and Servicing Agreement, which as of the date hereof is GMAC
Commercial Mortgage Corporation.

            "2002-HQ MORTGAGE LOAN" means the mortgage loan secured by the
Woodfield Pari Passu Mortgage on a pari passu basis with the Woodfield Pari
Passu Loan. The 2002-HQ Mortgage Loan is not a Mortgage Loan. The 2002-HQ
Mortgage Loan is an "A/B Mortgage Loan," as defined under the 2002-HQ Pooling
and Servicing Agreement. The 2002-HQ Mortgage Loan is included in a trust fund
created in connection with the issuance of the 2002-HQ Depositor's Commercial
Mortgage Pass-Through Certificates, Series 2002-HQ.

            "2002-HQ PAYING AGENT" means the "paying agent" under the 2002-HQ
Pooling and Servicing Agreement, which as of the date hereof is Wells Fargo Bank
Minnesota, N.A.

            "2002-HQ POOLING AND SERVICING AGREEMENT" means the pooling and
servicing agreement dated as of March 1, 2002 by and between the 2002-HQ
Depositor, the 2002-HQ Master Servicer, GMAC Commercial Mortgage Corporation, as
Special Servicer with respect to all the Mortgage Loans except Mortgage Loan No.
1, the 2002-HQ Special Servicer, the 2002-HQ Paying Agent and the 2002-HQ
Trustee, pursuant to which the 2002-HQ Depositor issued its Commercial Mortgage
Pass-Through Certificates, Series 2002-HQ.

            "2002-HQ SPECIAL SERVICER" means the "special servicer" with respect
to Mortgage Loan No. 1 under the 2002-HQ Pooling and Servicing Agreement, which
as of the date hereof is Pacific Life Insurance Company.

            "2002-HQ TRUSTEE" means the "trustee" under the 2002-HQ Pooling and
Servicing Agreement, which as of the date hereof is Wells Fargo Bank Minnesota,
N.A.

            "UNDERWRITER" means each of Morgan Stanley & Co. Incorporated and
Credit Suisse First Boston Corporation or their respective successors in
interest.

            "UNITED STATES PERSON" means (i) any natural person resident in the
United States, (ii) any partnership or corporation organized or incorporated
under the laws of the United States or any state thereof or the District of
Columbia, (iii) any estate of which an executor or administrator is a United
States Person (other than an estate governed by foreign law and of which at
least one executor or administrator is a non-United States Person who has sole
or shared investment discretion with respect to its assets), (iv) any trust of
which any trustee is a United States Person (other than a trust of which at
least one trustee is a non-United States Person and has sole or shared
investment discretion with respect to its assets), (v) any agency or branch of a
foreign entity located in the United States, (vi) any non-discretionary or
similar account (other than an estate or trust) held by a dealer or other
fiduciary for the benefit or account of a United States Person, (vii) any
discretionary or similar account (other than an estate or trust) held by a
dealer or other fiduciary organized, incorporated or (if an individual) resident
in the United States (other than such an account held for the benefit or account
of a non-United States Person), (viii) any partnership or corporation organized
or incorporated under the laws of a foreign jurisdiction and formed by a United
States Person principally for the purpose of investing in securities not
registered under the 1933 Act (unless it is organized or incorporated, and
owned, by accredited investors within the meaning of Rule 501(A) under the 1933
Act who are not natural persons, estates or trusts); provided, however, that the
term "United States Person" shall not include (A) a branch or agency of a United
States Person that is located and operating outside the United States for valid
business purposes as a locally regulated branch or agency engaged in the banking
or insurance business, (B) any employee benefit plan established and
administered in accordance with the law, customary practices and documentation
of a foreign country and (C) the international organizations set forth in
Section 902(o)(7) of Regulation S under the 1933 Act and any other similar
international organizations, and their agencies, affiliates and pension plans.

            "UNITED STATES TAX PERSON" means any of (i) a citizen or resident of
the United States, (ii) corporation or partnership organized in or under the
laws of the United States or any political subdivision thereof, (iii) an estate
the income of which is includible in gross income for United States tax
purposes, regardless of its source or (iv) a trust if a court within the United
States is able to exercise primary supervision over the administration of such
trust, and one or more United States Tax Persons has the authority to control
all substantial decisions of such trust.

            "UNPAID INTEREST" means, on any Distribution Date with respect to
any Class of Interests or Certificates (other than the Residual Certificates),
the portion of Distributable Certificate Interest for such Class remaining
unpaid as of the close of business on the preceding Distribution Date, plus one
month's interest thereon at the applicable Pass-Through Rate.

            "UNRESTRICTED SERVICER REPORTS" means the following reports in CMSA
format (as in effect on the date hereof or as such formats may be subsequently
adopted from time to time by the CMSA) in, and containing substantially the
information contemplated by, the forms attached hereto as part of Exhibit X
prepared by the Master Servicer (combining reports and/or data in such forms
prepared by the Special Servicer (with respect to Specially Serviced Mortgaged
Loans and REO Properties): (a) the following electronic files; (i) a Loan Set-Up
File (with respect to the initial Distribution Date only); and (ii) a Loan
Periodic Update File; and (b) the following supplemental reports: (i) a
Delinquent Loan Status Report, (ii) an Historical Loan Modification Report,
(iii) an Historical Liquidation Report, and (iv) an REO Status Report.

            "USAP" shall have the meaning set forth in Section 8.13.

            "WEIGHTED AVERAGE REMIC I NET MORTGAGE RATE" means, with respect to
any Distribution Date, the weighted average of the REMIC I Net Mortgage Rates
for the REMIC I Regular Interests, weighted on the basis of their respective
Certificate Balances as of the close of business on the preceding Distribution
Date.

            "WOODFIELD INTERCREDITOR AGREEMENT" means, with respect to the
Woodfield Pari Passu Loan, that certain intercreditor agreement dated March 12,
2002 by and between Morgan Stanley Bank, a Utah industrial loan company, and the
initial holder of the 2002-HQ Mortgage Loan relating to the relative rights of
the holder of the Woodfield Pari Passu Loan and the holder of the 2002-HQ
Mortgage Loan, as amended by the Woodfield Letter Agreement, and as the same may
be further amended from time to time.

            "WOODFIELD LETTER AGREEMENT" means that certain letter agreement
dated March 27, 2002 by and among GMAC Commercial Mortgage Corporation, as
Master Servicer and (other than with respect to the 2002-HQ Mortgage Loan)
Special Servicer under the 2002-HQ Pooling and Servicing Agreement, Pacific Life
Insurance Company, as Special Servicer of the 2002-HQ Mortgage Loan under the
2002-HQ Pooling and Servicing Agreement, Wells Fargo Bank Minnesota, N.A., as
Trustee under the 2002-HQ Pooling and Servicing Agreement and Morgan Stanley
Bank, a Utah industrial loan company, as initial holder of the Woodfield Pari
Passu Loan, relating to certain servicing matters with respect to the Woodfield
Pari Passu Loan and the 2002-HQ Mortgage Loan.

            "WOODFIELD PARI PASSU LOAN" means the Mortgage Loan designated as
Mortgage Loan No. 1 on the Mortgage Loan Schedule and which is secured on a pari
passu basis with the 2002-HQ Mortgage Loan pursuant to the Woodfield Pari Passu
Mortgage.

            "WOODFIELD PARI PASSU LOAN NONRECOVERABLE P&I ADVANCE" means any
"Nonrecoverable P&I Advance" (as defined in the 2002-HQ Pooling and Servicing
Agreement) made with respect to the Woodfield Pari Passu Loan pursuant to and in
accordance with the 2002-HQ Pooling and Servicing Agreement.

            "WOODFIELD PARI PASSU LOAN NONRECOVERABLE SERVICING ADVANCE" means
any "Nonrecoverable Servicing Advance" (as defined in the 2002-HQ Pooling and
Servicing Agreement) made with respect to the Woodfield Pari Passu Loan pursuant
to and in accordance with the 2002-HQ Pooling and Servicing Agreement; provided
that if the 2002-HQ Master Servicer shall have made a "Servicing Advance" (as
defined in the 2002-HQ Pooling and Servicing Agreement) in the nature of an
expenditure benefiting the related Mortgaged Property generally, the portion
thereof attributable to the Woodfield Pari Passu Loan shall be determined based
on the outstanding balances of the Woodfield Pari Passu Loan, the 2002-HQ
Mortgage Loan and any other note secured by the related Mortgaged Property on a
pari passu basis on the date such advance was made.

            "WOODFIELD PARI PASSU LOAN SERVICING FEE RATE" means the "Master
Servicing Fee Rate" applicable to the Woodfield Pari Passu Loan as defined in
the 2002-HQ Pooling and Servicing Agreement.

            "WOODFIELD PARI PASSU MORTGAGE" means the Mortgage securing the
2002-HQ Mortgage Loan and the Woodfield Pari Passu Loan

            "WORK-OUT FEE" means a fee payable with respect to any Rehabilitated
Mortgage Loan (other than the Woodfield Pari Passu Loan), equal to the product
of (x) 1.0% and (y) the amount of each collection of interest (other than
default interest) and principal received (including any Condemnation Proceeds
received and applied as a collection of such interest and principal) on such
Mortgage Loan or One Seaport Plaza Companion Loan for so long as it remains a
Rehabilitated Mortgage Loan.

            Section 1.2 Calculations Respecting Mortgage Loans. (a) Calculations
required to be made by the Paying Agent pursuant to this Agreement with respect
to any Mortgage Loan or One Seaport Plaza Companion Loan shall be made based
upon current information as to the terms of the Mortgage Loans and One Seaport
Plaza Companion Loan and reports of payments received from the Master Servicer
on such Mortgage Loans and One Seaport Plaza Companion Loan and payments to be
made to the Paying Agent as supplied to the Paying Agent by the Master Servicer.
The Paying Agent shall not be required to recompute, verify or recalculate the
information supplied to it by the Master Servicer and may conclusively rely upon
such information in making such calculations. If, however, a Responsible Officer
of the Paying Agent has actual knowledge of an error in the calculations, the
Paying Agent shall inform the Master Servicer of such error.

            (b) Unless otherwise required by law or the applicable Mortgage Loan
or One Seaport Plaza Companion Loan documents (or the One Seaport Plaza
Intercreditor Agreement), any amounts (other than escrow and reserve deposits
and reimbursements of Servicing Advances and expenses) received in respect of a
Mortgage Loan or One Seaport Plaza Companion Loan as to which a default has
occurred and is continuing shall be applied first to overdue interest due with
respect to such Mortgage Loan or One Seaport Plaza Companion Loan at the
Mortgage Rate thereof, next to current interest due with respect to such
Mortgage Loan or One Seaport Plaza Companion Loan at the Mortgage Rate thereof,
next to the reduction of the Principal Balance of such Mortgage Loan or One
Seaport Plaza Companion Loan to zero if such Mortgage Loan or One Seaport Plaza
Companion Loan has been accelerated and in respect of any scheduled payments of
principal then due to the extent that such Mortgage Loan or One Seaport Plaza
Companion Loan has not yet been accelerated, next to any default interest and
other amounts due on such Mortgage Loan or One Seaport Plaza Companion Loan and
finally to Late Fees due with respect to such Mortgage Loan or One Seaport Plaza
Companion Loan.

            Section 1.3 Calculations Respecting Accrued Interest. Accrued
interest on any Certificate shall be calculated based upon a 360-day year
consisting of twelve (12) 30-day months and Pass-Through Rates shall be carried
out to eight decimal places, rounded if necessary. All dollar amounts calculated
hereunder shall be rounded to the nearest penny.

            Section 1.4 Interpretation. (a) Whenever the Agreement refers to a
Distribution Date and a "related" Collection Period, Interest Accrual Period,
Record Date, Due Date, Report Date, Monthly Certificateholders Report, Special
Servicer Remittance Date, Master Servicer Remittance Date or Determination Date,
such reference shall be to the Collection Period, Interest Accrual Period,
Record Date, Due Date, Report Date, Special Servicer Remittance Date, Master
Servicer Remittance Date or Determination Date, as applicable, immediately
preceding such Distribution Date.

            (b) As used herein and in any certificate or other document made or
delivered pursuant hereto or thereto, accounting terms not defined in Section
1.1 shall have the respective meanings given to them under generally accepted
accounting principles or regulatory accounting principles, as applicable.

            (c) The words "hereof," "herein" and "hereunder," and words of
similar import, when used in this Agreement, shall refer to this agreement as a
whole and not to any particular provision of this Agreement, and references to
Sections, Schedules and Exhibits contained in this Agreement are references to
Sections, Schedules and Exhibits in or to this Agreement unless otherwise
specified.

            (d) Whenever a term is defined herein, the definition ascribed to
such term shall be equally applicable to both the singular and plural forms of
such term and to masculine, feminine and neuter genders of such term.

            (e) This Agreement is the result of arm's-length negotiations
between the parties and has been reviewed by each party hereto and its counsel.
Each party agrees that any ambiguity in this Agreement shall not be interpreted
against the party drafting the particular clause which is in question.

                                   ARTICLE II

                              DECLARATION OF TRUST;
                            ISSUANCES OF CERTIFICATES

            Section 2.1 Conveyance of Mortgage Loans. (a) Effective as of the
Closing Date, the Depositor does hereby assign in trust to the Trustee, without
recourse, for the benefit of the Certificateholders all the right, title and
interest of the Depositor, in, to and under (i) the Mortgage Loans identified on
the Mortgage Loan Schedule, (ii) the Depositor's rights under each Mortgage Loan
Purchase Agreement that are permitted to be assigned to the Trustee pursuant to
Section 14 thereof, (iii) the Initial Deposit, (iv) the Depositor's rights under
the Woodfield Intercreditor Agreement and the 2002-HQ Pooling and Servicing
Agreement with respect to the Woodfield Pari Passu Loan, (v) the Depositor's
rights under the One Seaport Plaza Intercreditor Agreement and (vi) all other
assets included or to be included in REMIC I for the benefit of REMIC II and
REMIC III. Such assignment includes all interest and principal received or
receivable on or with respect to the Mortgage Loans and due after the Cut-Off
Date. The transfer of the Mortgage Loans and the related rights and property
accomplished hereby is absolute and is intended by the parties to constitute a
sale. In connection with the initial sale of the Certificates by the Depositor,
the purchase price to be paid includes a portion attributable to interest
accruing on the Certificates from and after the Cut-Off Date. The transfer and
assignment of the Woodfield Pari Passu Loan to the Trustee and the right to
service such Mortgage Loan are subject to the terms and conditions of the
2002-HQ Pooling and Servicing Agreement and the Woodfield Intercreditor
Agreement.

            (b) In connection with the Depositor's assignment pursuant to
Section 2.1(a) above, the Depositor shall direct, and hereby represents and
warrants that it has directed, each Seller pursuant to the applicable Mortgage
Loan Purchase Agreement to deliver to and deposit with, or cause to be delivered
to and deposited with, the Trustee or a Custodian appointed hereunder, on or
before the Closing Date, the Mortgage Note for each Mortgage Loan so assigned,
endorsed to the Trustee as specified in clause (i) of the definition of
"Mortgage File." Each Seller is required, pursuant to the applicable Mortgage
Loan Purchase Agreement, to deliver to the Trustee the remaining documents
constituting the Mortgage File for each Mortgage Loan within the time period set
forth therein. None of the Trustee, the Fiscal Agent, the Paying Agent, any
Custodian, the Master Servicer or the Special Servicer shall be liable for any
failure by any Seller or the Depositor to comply with the document delivery
requirements of the Mortgage Loan Purchase Agreements and this Section 2.1(b).

            (c) The Trustee, at the expense of MSDWMC and State Farm for the
MSDWMC and the State Farm Mortgage Loans and the remaining Sellers, at their own
expense for the Mortgage Loans originated by each of them respectively, shall
promptly (and in any event within 45 days following the receipt thereof) cause
to be submitted for recording or filing, as the case may be, in the appropriate
public office for real property records or UCC financing statements, as
appropriate, each assignment to the Trustee referred to in clauses (iv), (vi)(B)
and (ix)(B) of the definition of "Mortgage File". Each such assignment shall
reflect that it should be returned by the public recording office to the Trustee
following recording or filing; provided that in those instances where the public
recording office retains the original Assignment of Mortgage, assignment of
Assignment of Leases or assignment of UCC financing statements, the Trustee, for
all Mortgage Loans other than the Principal Loans, and Principal for the
Principal Loans, shall obtain therefrom a certified copy of the recorded
original and shall forward copies thereof to the Master Servicer, the Special
Servicer and (if forwarded by Principal), the Trustee. If any such document or
instrument is lost or returned unrecorded or unfiled, as the case may be,
because of a defect therein, the Trustee for all Mortgage Loans other than the
Principal Loans, and Principal for the Principal Loans, shall promptly prepare
or cause to be prepared a substitute therefor or cure such defect, as the case
may be, and thereafter the Trustee shall upon receipt thereof cause the same to
be duly recorded or filed, as appropriate.

            The parties acknowledge the obligation of each Seller pursuant to
Section 2 of the related Mortgage Loan Purchase Agreement to deliver to the
Trustee, on or before the fifth Business Day after the Closing Date, five
limited powers of attorney substantially in the form attached as Exhibit C to
the Primary Servicing Agreements or Exhibit 5 to the Mortgage Loan Purchase
Agreements in favor of the Trustee, the Master Servicer and the Special Servicer
to empower the Trustee, the Master Servicer and, in the event of the failure or
incapacity of the Trustee and the Master Servicer, the Special Servicer, to
submit for recording, at the expense of the applicable Seller, any mortgage loan
documents required to be recorded as described in the preceding paragraph and
any intervening assignments with evidence of recording thereon that are required
to be included in the Mortgage Files (so long as original counterparts have
previously been delivered to the Trustee). The Sellers agree to reasonably
cooperate with the Trustee, the Master Servicer and the Special Servicer in
connection with any additional powers of attorney or revisions thereto that are
requested by such parties for purposes of such recordation. The Trustee and each
other party hereto agrees that no such power of attorney shall be used with
respect to any Mortgage Loan by or under authorization by any party hereto
except that to the extent that the absence of a document described in the second
preceding sentence with respect to such Mortgage Loan remains unremedied as of
the earlier of (i) the date that is 180 days following the delivery of notice of
such absence to the related Seller, but in no event earlier than 18 months from
the Closing Date, and (ii) the date (if any) on which such Mortgage Loan becomes
a Specially Serviced Mortgage Loan. The Trustee shall submit such documents for
recording, at the related Seller's expense, after the periods set forth above
provided, however, the Trustee shall not submit such assignments for recording
if the applicable Seller produces evidence that it has sent any such assignment
for recording and certifies that it is awaiting its return from the applicable
recording office.

            (d) All relevant servicing or loan documents and records in the
possession of the Depositor or the Sellers that relate to the Mortgage Loans or
One Seaport Plaza Companion Loan and that are not required to be a part of a
Mortgage File in accordance with the definition thereof shall be delivered to
the Master Servicer or the related Primary Servicer on its behalf, on or before
the date that is 45 days following the Closing Date and shall be held by the
Master Servicer or the related Primary Servicer on behalf of the Trustee in
trust for the benefit of the Certificateholders. To the extent delivered to the
Master Servicer or the related Primary Servicer by the related Seller, the
Servicer Mortgage File, will consist of, to the extent required to be (and
actually) delivered to the applicable Seller pursuant to the applicable Mortgage
Loan documents, copies of the following items: the Mortgage Note, any Mortgage,
the Assignment of Leases and the Assignment of Mortgage, any guaranty/indemnity
agreement, any loan agreement, the insurance policies or certificates (as
applicable), the property inspection reports, any financial statements on the
property, any escrow analysis, the tax bills, the Appraisal, the environmental
report, the engineering report, the asset summary, financial information on the
Mortgagor/sponsor and any guarantors, any letters of credit, any intercreditor
agreement and any Environmental Insurance Policies. Delivery of any of the
foregoing documents to the applicable Primary Servicer (or sub-servicer) shall
be deemed delivery to the Master Servicer and satisfy the Depositor's
obligations under this Section 2.1(d). Each of the foregoing items shall be
delivered in electronic form, to the extent such document is available in such
form and such form is reasonably acceptable to the Master Servicer. None of the
Master Servicer, the Special Servicer or any Primary Servicer shall have any
liability for the absence of any of the foregoing items from the Servicing
Mortgage File if such item was not delivered by the related Seller.

            (e) In connection with the Depositor's assignment pursuant to
Section 2.1(a) above, the Depositor shall deliver to the Trustee and the Master
Servicer on or before the Closing Date a copy of a fully executed counterpart of
each Mortgage Loan Purchase Agreement, as in full force and effect on the
Closing Date, which Mortgage Loan Purchase Agreements shall contain the
representations and warranties made by the Sellers with respect to each related
Mortgage Loan as of the Closing Date.

            (f) In connection herewith, the Depositor has acquired the JHREF
Loans from JHREF, the MSDWMC Loans from MSDWMC, the Principal Loans from
Principal, the State Farm Loans from State Farm and the TIAA Loans from TIAA.
The Depositor will deliver the original Mortgage Notes (or lost note affidavits
with copies of the related Mortgage Notes, as described in the definition of
Mortgage File) relating to the JHREF Loans to the Trustee, endorsed as otherwise
provided herein, to effect the transfer to the Trustee of such Mortgage Notes
and all related deeds of trust, mortgages and other loan documents. The
Depositor will deliver the original Mortgage Notes (or lost note affidavits with
copies of the related Mortgage Notes, as described in the definition of Mortgage
File) relating to the MSDWMC Loans to the Trustee, endorsed as otherwise
provided herein, to effect the transfer to the Trustee of such Mortgage Notes
and all related deeds of trust, mortgages and other loan documents. The
Depositor will deliver the original Mortgage Notes (or lost note affidavits with
copies of the related Mortgage Notes, as described in the definition of Mortgage
File) relating to the Principal Loans to the Trustee, endorsed as otherwise
provided herein, to effect the transfer to the Trustee of such Mortgage Notes
and all related deeds of trust, mortgages and other loan documents. The
Depositor will deliver the original Mortgage Notes (or lost note affidavits with
copies of the related Mortgage Notes, as described in the definition of Mortgage
File) relating to the State Farm Loans to the Trustee, endorsed as otherwise
provided herein, to effect the transfer to the Trustee of such Mortgage Notes
and all related deeds of trust, mortgages and other loan documents. The
Depositor will deliver the original Mortgage Notes (or lost note affidavits with
copies of the related Mortgage Notes, as described in the definition of Mortgage
File) relating to the TIAA Loans to the Trustee, endorsed as otherwise provided
herein, to effect the transfer to the Trustee of such Mortgage Notes and all
related deeds of trust, mortgages and other loan documents. To avoid the
unnecessary expense and administrative inconvenience associated with the
execution and recording of multiple assignment documents, JHREF, MSDWMC,
Principal, State Farm and TIAA, as applicable, are required under the Mortgage
Loan Purchase Agreements to deliver Assignments of Mortgages and assignments of
Assignments of Leases and assignments of UCC financing statements naming the
Trustee, on behalf of the Certificateholders, as assignee. Notwithstanding the
fact that the assignments shall name the Trustee, on behalf of the
Certificateholders, as the assignee, the parties hereto acknowledge and agree
that for all purposes the JHREF Loans shall be deemed to have been transferred
from JHREF to the Depositor, the MSDWMC Loans shall be deemed to have been
transferred from MSDWMC to the Depositor, the Principal Loans shall be deemed to
have been transferred from Principal to the Depositor, the State Farm Loans
shall be deemed to have been transferred from State Farm to the Depositor and
the TIAA Loans shall be deemed to have been transferred from TIAA to the
Depositor, and all Mortgage Loans shall be deemed to have been transferred from
the Depositor to the Trustee on behalf of the Certificateholders.

            Section 2.2 Acceptance by Trustee. The Trustee will hold (i) the
documents constituting a part of the Mortgage Files delivered to it, (ii) the
REMIC I Regular Interests, and (iii) the REMIC II Regular Interests, in each
case, in trust for the use and benefit of all present and future
Certificateholders. To the extent that the contents of the Mortgage File for the
One Seaport Plaza Pari Passu Loan relate to the corresponding One Seaport Plaza
Companion Loan, the Trustee, or the Custodian, on the Trustee's behalf, will
also hold such Mortgage File in trust for the benefit of the holder of the
related One Seaport Plaza Companion Loan.

            On the Closing Date in respect of the Initial Certification, and
within 90 days after the Closing Date in respect of the Final Certification, the
Trustee shall examine the Mortgage Files in its possession, and shall deliver to
the Depositor, the Sellers, the Master Servicer, the Special Servicer and the
Operating Adviser a certification (the "Initial Certification" and the "Final
Certification", respectively, in the respective forms set forth as Exhibit B-1
and Exhibit B-2 hereto), which may be in electronic format (i) in the case of
the Initial Certification, as to each Mortgage Loan listed in the Mortgage Loan
Schedule, except as may be specified in the schedule of exceptions to Mortgage
File delivery attached thereto, to the effect that: (A) all documents pursuant
to clause (i) of the definition of Mortgage File are in its possession, (B) such
documents have been reviewed by it and have not been materially mutilated,
damaged, defaced, torn or otherwise physically altered, and such documents
relate to such Mortgage Loan, and (C) each Mortgage Note has been endorsed as
provided in clause (i) of the definition of Mortgage File, and (ii) in the case
of the Final Certification, as to each Mortgage Loan listed in the Mortgage Loan
Schedule, except as may be specified in the schedule of exceptions to Mortgage
File delivery attached thereto, to the effect that: (A) all documents pursuant
to clauses (i), (ii), (iv), (vi) and (viii) of the definition of Mortgage File
required to be included in the Mortgage File, and with respect to all documents
specified in the other clauses of the definition of Mortgage File to the extent
known by a Responsible Officer of the Trustee to be required pursuant to this
Agreement, are in its possession, (B) such documents have been reviewed by it
and have not been materially mutilated, damaged, defaced, torn or otherwise
physically altered, and such documents relate to such Mortgage Loan, (C) based
on its examination and only as to the Mortgage Note and Mortgage, the street
address of the Mortgaged Property set forth in the Mortgage Loan Schedule
respecting such Mortgage Loan accurately reflects the information contained in
the documents in the Mortgage File, and (D) each Mortgage Note has been endorsed
as required by the terms of this Agreement. Notwithstanding the foregoing, the
delivery of a commitment to issue a Title Insurance Policy in lieu of the
delivery of the actual Title Insurance Policy shall not be considered a Material
Document Defect with respect to any Mortgage File if such actual Title Insurance
Policy is delivered to the Trustee or a Custodian on its behalf not later than
the 180th day following the Closing Date. The Trustee shall deliver to the
Master Servicer, the Special Servicer, the Operating Adviser and each Seller a
copy of such Final Certification, which may be in electronic format.

            Within 360 days after the Cut-Off Date, the Trustee shall provide a
confirmation of receipt of recorded assignments of Mortgage (as described in the
definition of Mortgage File, with evidence of recording thereon) or otherwise
provide evidence of such recordation to the Master Servicer, the Special
Servicer, the Operating Adviser and each Seller, and if any recorded assignment
of Mortgage has not been received by the Trustee by such time, the Trustee shall
provide information in such confirmation on the status of missing assignments.
The Trustee agrees to use reasonable efforts to submit for recording any
unrecorded assignments of Mortgage that have been delivered to it (including
effecting such recordation process through or cooperating with the applicable
Seller) such recordation to be at the expense of the applicable Seller;
provided, however, that the Trustee shall not submit for recording any such
assignments if the applicable Seller produces evidence that it has sent any such
assignment for recording and is awaiting its return from the applicable
recording office. In giving the certifications required above, the Trustee shall
be under no obligation or duty to inspect, review or examine any such documents,
instruments, securities or other papers to determine whether they or the
signatures thereon are valid, legal, genuine, enforceable, in recordable form or
appropriate for their represented purposes, or that they are other than what
they purport to be on their face, or to determine whether any Mortgage File
should include any assumption agreement, modification agreement, consolidation
agreement, extension agreement, Assignment of Lease, ground lease, UCC financing
statement, guaranty, written assurance, substitution agreement, lock box
agreement, intercreditor agreement, management agreement or letter of credit.

            If any exceptions are noted on a schedule of exceptions attached to
the Final Certification, including exceptions resulting from the fact that the
recordation and/or filing has not been completed (based solely on the absence of
receipt by the Custodian (or the Trustee) of the particular documents showing
evidence of the recordation and/or filing), then the Custodian on behalf of the
Trustee (or the Trustee) shall continuously update such schedule of exceptions
to reflect receipt of any corrected documents, additional documents or
instruments or evidences of recordation and/or filing, as to each Mortgage Loan,
until the earliest of the following dates: (i) the date on which all such
exceptions are eliminated (any such elimination resulting from the fact that
recordation and/or filing has been completed shall be based solely on receipt by
the Custodian or the Trustee of the particular documents showing evidence of the
recordation and/or filing), (ii) the date on which all the affected Mortgage
Loans are removed from the Trust and (iii) the second anniversary of the Closing
Date, and shall provide such updated schedule of exceptions (which may be in
electronic format) to each of the Depositor, each Seller (as to its respective
Mortgage Loans only), the Master Servicer, the Special Servicer, the Operating
Adviser and the Paying Agent on or about the date that is 180 days after the
Closing Date and then again every 90 days thereafter (until the earliest date
specified above). The Paying Agent shall promptly forward a copy thereof to each
Certificateholder in the Controlling Class and shall deliver or make available a
copy thereof to other Certificateholders pursuant to Section 5.4(d). Promptly,
and in any event within two Business Days, following any request therefor by the
Depositor, the Master Servicer, the Special Servicer or the Operating Adviser
that is made later than two years following the Closing Date, the Custodian (or
the Trustee) shall deliver an updated schedule of exceptions, which may be in
electronic format (to the extent the prior schedule showed exceptions), to the
requesting Person and the Paying Agent, which shall make available a copy
thereof pursuant to Section 5.4(d).

            The Trustee or its authorized agents shall retain possession and
custody of each Trustee Mortgage File in accordance with and subject to the
terms and conditions set forth herein.

            Section 2.3 Sellers' Repurchase of Mortgage Loans for Material
Document Defects and Material Breaches of Representations and Warranties. (a) If
any party hereto discovers that any document or documents constituting a part of
a Mortgage File has not been delivered as and when required, has not been
properly executed, or is defective on its face or discovers or receives notice
of a breach of any of the representations and warranties relating to the
Mortgage Loans required to be made by a Seller regarding the characteristics of
the Mortgage Loans and/or related Mortgaged Properties as set forth in the
related Mortgage Loan Purchase Agreements, and in either case such defect or
breach either (i) materially and adversely affects the interests of the holders
of the Certificates in the related Mortgage Loan, or (ii) both (A) the document
defect or breach materially and adversely affects the value of the Mortgage Loan
and (B) the Mortgage Loan is a Specially Serviced Mortgage Loan or Rehabilitated
Mortgage Loan (such a document defect described in the preceding clause (i) or
(ii), a "Material Document Defect", and such a breach described in the preceding
clause (i) or (ii), a "Material Breach") such party shall give prompt written
notice to the other parties hereto and to each Rating Agency subject to the
terms of the applicable Mortgage Loan Purchase Agreement. Promptly (but in any
event within three Business Days) upon becoming aware of any such Material
Document Defect or Material Breach, the Master Servicer shall, and the Special
Servicer may, request that the related Seller, not later than 90 days from such
Seller's receipt of the notice of such Material Document Defect or Material
Breach, cure such Material Document Defect or Material Breach, as the case may
be, in all material respects; provided, however, that if such Material Document
Defect or Material Breach, as the case may be, cannot be corrected or cured in
all material respects within such 90-day period, and such Material Document
Defect or Material Breach would not cause the Mortgage Loan to be other than a
"qualified mortgage" (as defined in the Code) but the related Seller is
diligently attempting to effect such correction or cure, as certified by such
Seller in an Officer's Certificate delivered to the Trustee, then the cure
period will be extended for an additional 90 days unless, solely in the case of
a Material Document Defect, (x) the Mortgage Loan is then a Specially Serviced
Mortgage Loan and a Servicing Transfer Event has occurred as a result of a
monetary default or as described in clause (ii) or clause (v) of the definition
of "Servicing Transfer Event" and (y) the Material Document Defect was
identified in a certification delivered to the Seller by the Trustee pursuant to
Section 2.2 not less than 90 days prior to the delivery of the notice of such
Material Document Defect. The parties acknowledge that neither delivery of a
certification or schedule of exceptions to a Seller pursuant to Section 2.2 or
otherwise nor possession of such certification or schedule by the Seller shall,
in and of itself, constitute delivery of notice of any Material Document Defect
or knowledge or awareness by the Seller of any Material Document Defect listed
therein.

            If any such Material Document Defect or Material Breach cannot be
corrected or cured in all material respects within the above cure periods, the
related Seller will be obligated, not later than the last day of such permitted
cure period, to (i) repurchase the affected Mortgage Loan or REO Mortgage Loan
from the Trust at the applicable Purchase Price in accordance with the related
Mortgage Loan Purchase Agreement, or (ii) if within the two-year period
commencing on the Closing Date, at the related Seller's option, replace such
Mortgage Loan or REO Mortgage Loan with a Qualifying Substitute Mortgage Loan.
If such Material Document Defect or Material Breach would cause the Mortgage
Loan to be other than a "qualified mortgage" (as defined in the Code), then
notwithstanding the previous sentence, the repurchase or substitution must occur
within 90 days from the earlier of the date the related Seller discovered or was
notified of the breach or defect.

            As to any Qualifying Substitute Mortgage Loan or Loans, the Master
Servicer shall not execute any instrument effecting the substitution unless the
related Seller has delivered to the Trustee for such Qualifying Substitute
Mortgage Loan or Loans, the Mortgage Note, the Mortgage, the related Assignment
of Mortgage, and such other documents and agreements as are required by Section
2.1, with the Mortgage Note endorsed as required by Section 2.1 and the Master
Servicer shall be entitled to rely on statements and certifications from the
Trustee for this purpose. No substitution may be made in any calendar month
after the Determination Date for such month. Monthly payments due with respect
to Qualifying Substitute Mortgage Loans in the month of substitution shall not
be part of the Trust and will be retained by Master Servicer and remitted by the
Master Servicer to the related Seller on the next succeeding Distribution Date.
For the month of substitution, distributions to Certificateholders will include
the Scheduled Payment due on the related Deleted Mortgage Loan for such month
and thereafter the related Seller shall be entitled to retain all amounts
received in respect of such Deleted Mortgage Loan.

            The Master Servicer shall amend or cause to be amended the Mortgage
Loan Schedule to reflect the removal of such Deleted Mortgage Loan and the
substitution of the Qualifying Substitute Mortgage Loan or Loans and upon such
amendment the Master Servicer shall deliver or cause to be delivered such
amended Mortgage Loan Schedule to the Trustee, the Paying Agent and the Special
Servicer. Upon such substitution, the Qualifying Substitute Mortgage Loan or
Loans shall be subject to the terms of this Agreement in all respects. Upon
receipt of the Trustee Mortgage File pertaining to any Qualifying Substitute
Mortgage Loans, the Trustee shall release the Trustee Mortgage File relating to
such Deleted Mortgage Loan to the related Seller, and the Trustee (and the
Depositor, if necessary) shall execute and deliver such instruments of transfer
or assignment in the form presented to it, in each case without recourse,
representation or warranty, as shall be necessary to vest title (to the extent
that such title was transferred to the Trustee or the Depositor) in the related
Seller or its designee to any Deleted Mortgage Loan (including any property
acquired in respect thereof or any insurance policy proceeds relating thereto)
substituted for pursuant to this Section 2.3.

            If (i) a Mortgage Loan is to be repurchased or replaced in
connection with a Material Document Defect or Material Breach as contemplated
above, (ii) such Mortgage Loan is cross-collateralized and cross-defaulted with
one or more other Mortgage Loans and (iii) the applicable document defect or
breach does not constitute a Material Document Defect or Material Breach, as the
case may be, as to such other Mortgage Loans (without regard to this paragraph),
then the applicable document defect or breach (as the case may be) shall be
deemed to constitute a Material Document Defect or Material Breach (as the case
may be) as to each such other Mortgage Loan for purposes of the above
provisions, and the related Seller shall be obligated to repurchase or replace
each such other Mortgage Loan in accordance with the provisions above unless, in
the case of such breach or document defect, both of the following conditions
would be satisfied if the related Seller were to repurchase or replace only
those Mortgage Loans as to which a Material Breach or Material Document Defect
had occurred without regard to this paragraph (the "Affected Loan(s)"): (1) the
normalized debt service coverage ratio for all such other Mortgage Loans
(excluding the Affected Loan(s)) for the four calendar quarters immediately
preceding the repurchase or replacement (determined as provided in the
definition of Debt Service Coverage Ratio, except that net cash flow for such
four calendar quarters, rather than year-end, shall be used) is not less than
0.10x below the lesser of (x) the debt service coverage ratio for all such
Mortgage Loans (including the Affected Loan(s)) set forth under the heading "NCF
DSCR"in Appendix II to the Final Prospectus Supplement and (y) the normalized
debt service coverage ratio for all such Mortgage Loans that are
cross-collateralized and cross-defaulted with one another (including the
Affected Loan(s)) for the four preceding calendar quarters preceding the
repurchase or replacement (determined as provided in the definition of Debt
Service Coverage Ratio, except that net cash flow for such four calendar
quarters, rather than year-end, shall be used), and (2) the Loan-to-Value Ratio
for all such other Mortgage Loans (excluding the Affected Loan(s)) is not
greater than 10% more than the greater of (x) the loan-to-value ratio for all
such Mortgage Loans (including the Affected Loan(s)) set forth under the heading
"Cut-Off Date LTV" in Appendix II to the Final Prospectus Supplement and (y) the
Loan-to-Value Ratio for all such Mortgage Loans that are cross-collateralized
and cross-defaulted with one another (including the Affected Loan(s)). The
determination of the Master Servicer as to whether the conditions set forth
above have been satisfied shall be conclusive and binding in the absence of
manifest error. The Master Servicer will be entitled to cause to be delivered,
or direct the related Seller to (in which case the related Seller shall) cause
to be delivered to the Master Servicer, an Appraisal of any or all of the
related Mortgaged Properties for purposes of determining whether the condition
set forth in clause (2) above has been satisfied, in each case at the expense of
the related Seller if the scope and cost of the Appraisal is approved by the
related Seller (such approval not to be unreasonably withheld).

            With respect to any Mortgage Loan that is cross-defaulted and
cross-collateralized with any other Mortgage Loan conveyed hereunder, to the
extent that the applicable Seller is required to repurchase or substitute for
such Mortgage Loan (each, a "Repurchased Loan") in the manner prescribed above
while the Trustee continues to hold any other Mortgage Loan that is
cross-collateralized and cross-defaulted (each, a "Cross-Collateralized Loan")
with such Repurchased Loan, the applicable Seller and the Depositor have agreed
in the related Mortgage Loan Purchase Agreement to forbear from enforcing any
remedies against the other's Primary Collateral but each is permitted to
exercise remedies against the Primary Collateral securing its respective
Mortgage Loans, including with respect to the Trustee, the Primary Collateral
securing Mortgage Loans still held by the Trustee, so long as such exercise does
not impair the ability of the other party to exercise its remedies against its
Primary Collateral. If the exercise of remedies by one party would impair the
ability of the other party to exercise its remedies with respect to the Primary
Collateral securing the Mortgage Loan or Mortgage Loans held by such party, then
both parties have agreed to forbear from exercising such remedies until the loan
documents evidencing and securing the relevant Mortgage Loans can be modified in
a manner that complies with the applicable Mortgage Loan Purchase Agreement to
remove the threat of impairment as a result of the exercise of remedies. Any
reserve or other cash collateral or letters of credit securing the
Cross-Collateralized Loans shall be allocated between such Mortgage Loans in
accordance with the Mortgage Loan documents, or otherwise on a pro rata basis
based upon their outstanding Principal Balances. All other terms of the Mortgage
Loans shall remain in full force and effect, without any modification thereof.
The Mortgagors set forth on Schedule VIII hereto are intended third-party
beneficiaries of the provisions set forth in this paragraph and the preceding
paragraph. The provisions of this paragraph and the preceding paragraph may not
be modified with respect to any Mortgage Loan without the related Mortgagor's
consent.

            Any of the following document defects shall be conclusively presumed
materially and adversely to affect the interests of Certificateholders in a
Mortgage Loan and be a Material Document Defect: (a) the absence from the
Mortgage File of the original signed Mortgage Note, unless the Mortgage File
contains a signed lost note affidavit and indemnity; (b) the absence from the
Mortgage File of the original signed Mortgage, unless there is included in the
Mortgage File (i) a copy of the Mortgage certified by the local authority with
which the Mortgage was recorded or (ii) a true and correct copy of the Mortgage
together with an Officer's Certificate; or (c) the absence from the Mortgage
File of the item called for by paragraph (viii) of the definition of Mortgage
File. If any of the foregoing Material Document Defects is discovered by the
Custodian (or the Trustee if there is no Custodian) or any other party hereto,
the Trustee (or as set forth in Section 2.3(a), the Master Servicer) will take
the steps described elsewhere in this section, including the giving of notices
to the Rating Agencies and the parties hereto and making demand upon the related
Seller for the cure of the document defect or repurchase or replacement of the
related Mortgage Loan.

            In any month in which the related Seller substitutes one or more
Qualifying Substitute Mortgage Loans for one or more Deleted Mortgage Loans, the
Master Servicer will determine the amount (if any) by which the aggregate
Principal Balance of all such Qualified Substitute Mortgage Loans as of the date
of substitution is less than the aggregate Principal Balance of all such Deleted
Mortgage Loans (in each case after application of scheduled principal portion of
the monthly payments received in the month of substitution). The Depositor shall
cause the related Seller to deposit the amount of such shortage into the
Certificate Account in the month of substitution, without any reimbursement
thereof. In addition, the Depositor shall cause the related Seller to deposit
into the Certificate Account, together with such shortage, if any, an amount
equal to interest on the Deleted Mortgage Loans at a rate equal to the sum of
the applicable Mortgage Rate from the Due Date as to which interest was last
paid up to the Due Date next succeeding such substitution together with the
amount of unreimbursed Servicing Advances, amounts required to be paid to the
Special Servicer but remaining unpaid or unreimbursed, and interest on
unreimbursed Advances with respect to such Deleted Mortgage Loans at the Advance
Rate. The Depositor shall cause the related Seller, in the case of the Mortgage
Loans, to give notice in writing (accompanied by an Officer's Certificate as to
the calculation of such shortage) to the Trustee, the Paying Agent and the
Master Servicer of such event which notice shall be accompanied by an Officers'
Certificate as to the calculation of such shortfall.

            If the affected Mortgage Loan is to be repurchased, the Master
Servicer shall designate the Certificate Account as the account to which funds
in the amount of the Purchase Price are to be wired. Any such purchase of a
Mortgage Loan shall be on a whole loan, servicing released basis.

            (b) The Seller shall be notified promptly and in writing by (i) the
Trustee of any notice that it receives that an Option Holder intends to exercise
its Option to purchase the Mortgage Loan in accordance with and as described in
Section 9.36 of this Agreement and (ii) the Special Servicer of any offer that
it receives to purchase the applicable REO Property, each in connection with
such liquidation. Upon the receipt of such notice by the Seller, the Seller
shall then have the right, subject to any repurchase obligation under Section
2.3 with respect to such Mortgage Loan, to repurchase the related Mortgage Loan
or REO Property, as applicable, from the Trust at a purchase price equal to, in
the case of clause (i) of the immediately preceding sentence, the Option
Purchase Price or, in the case of clause (ii) of the immediately preceding
sentence, the amount of such offer. Notwithstanding anything to the contrary
contained in this Agreement or in the related Mortgage Loan Purchase Agreement,
the right of any Option Holder to purchase such Mortgage Loan shall be subject
and subordinate to the related Seller's right to purchase such Mortgage Loan as
described in the immediately preceding sentence. The related Seller shall have
five (5) Business Days from the date of its receipt of a notice described in the
first sentence of this clause (b) to notify the Trustee or Special Servicer, as
applicable, of its intent to so purchase the Mortgage Loan or related REO
Property. The Special Servicer shall be obligated to provide the related Seller
with any appraisal or other third party reports relating to the Mortgaged
Property within its possession to enable the Seller to evaluate the Mortgage
Loan or REO Property. Any sale of the Mortgage Loan, or foreclosure upon such
Mortgage Loan and sale of the REO Property, to a Person other than the related
Seller shall be without (i) recourse of any kind (either expressed or implied)
by such Person against the Seller and (ii) representation or warranty of any
kind (either expressed or implied) by the Seller to or for the benefit of such
Person.

            (c) In connection with any repurchase of or substitution for a
Mortgage Loan contemplated by this Section 2.3, the Trustee, the Master Servicer
and the Special Servicer shall each tender to the related Seller, upon delivery
to each of them of a receipt executed by such Seller, all portions of the
Mortgage File and other documents pertaining to such Mortgage Loan possessed by
it (including, without limitation, all documents delivered to the Trustee and
the Master Servicer pursuant to the related Mortgage Loan Purchase Agreement),
and each document that constitutes a part of the Mortgage File shall be endorsed
or assigned to the extent necessary or appropriate to the related Seller or its
designee in the same manner, and pursuant to appropriate forms of assignment,
substantially similar to the manner and forms pursuant to which documents were
previously assigned to the Trustee, but in any event, without recourse,
representation or warranty; provided that such tender by the Trustee shall be
conditioned upon its receipt from the Master Servicer of a Request for Release.
The Master Servicer shall, and is hereby authorized and empowered by the Trustee
to, prepare, execute and deliver in its own name, on behalf of the
Certificateholders and the Trustee or any of them, the endorsements and
assignments contemplated by this Section 2.3, and the Trustee shall execute and
deliver any powers of attorney necessary to permit the Master Servicer to do so.
The Master Servicer shall, and is also hereby authorized and empowered by the
Trustee to, reconvey to the related Seller any deposits then held in an Escrow
Account relating to the Mortgage Loan being repurchased or substituted for. The
Master Servicer shall indemnify the Trustee for all costs, liabilities and
expenses (including attorneys' fees) incurred by the Trustee in connection with
any negligent or intentional misuse of any such powers of attorney by the Master
Servicer.

            (d) The Mortgage Loan Purchase Agreements provide the sole remedies
available to the Certificateholders, or the Trustee on behalf of the
Certificateholders, respecting any Material Document Defect or Material Breach.
The parties hereunder understand that (i) JHREF, as Seller under Mortgage Loan
Purchase Agreement I, will be providing the remedies with respect to the JHREF
Loans, (ii) MSDWMC, as Seller under Mortgage Loan Purchase Agreement II, will be
providing the remedies with respect to the MSDWMC Loans, (iii) Principal, as
Seller under Mortgage Loan Purchase Agreement III, will be providing the
remedies with respect to the Principal Loans, (iv) State Farm, as Seller under
Mortgage Loan Purchase Agreement IV, will be providing the remedies with respect
to the State Farm Loans, and (v) TIAA, as Seller under Mortgage Loan Purchase
Agreement V, will be providing the remedies with respect to the TIAA Loans.

            Section 2.4 Representations and Warranties. The Depositor hereby
represents and warrants to the Master Servicer, the Special Servicer, the
Trustee (in its capacity as Trustee of the Trust), the Fiscal Agent and the
Paying Agent as of the Closing Date that:

            (a) The Depositor is a corporation duly organized, validly existing
and in good standing under the laws governing its creation and existence and has
full corporate power and authority to own its property, to carry on its business
as presently conducted, to enter into and perform its obligations under this
Agreement, and to create the trust pursuant hereto;

            (b) The execution and delivery by the Depositor of this Agreement
have been duly authorized by all necessary corporate action on the part of the
Depositor; neither the execution and delivery of this Agreement, nor the
consummation of the transactions herein contemplated, nor compliance with the
provisions hereof, will conflict with or result in a breach of, or constitute a
default under, (i) any of the provisions of any law, governmental rule,
regulation, judgment, decree or order binding on the Depositor or its
properties; (ii) the certificate of incorporation or bylaws of the Depositor; or
(iii) the terms of any indenture or other agreement or instrument to which the
Depositor is a party or by which it is bound; neither the Depositor nor any of
its Affiliates is a party to, bound by, or in breach of or violation of any
indenture or other agreement or instrument, or subject to or in violation of any
statute, order or regulation of any court, regulatory body, administrative
agency or governmental body having jurisdiction over it, which materially and
adversely affects or to the best knowledge of the Depositor may in the future
materially and adversely affect (i) the ability of the Depositor to perform its
obligations under this Agreement or (ii) the business, operations, financial
condition, properties or assets of the Depositor;

            (c) The execution, delivery and performance by the Depositor of this
Agreement and the consummation of the transactions contemplated hereby do not
require the consent or approval of, the giving of notice to, the registration
with, or the taking of any other action in respect of, any state, federal or
other governmental authority or agency, except such as has been obtained, given,
effected or taken prior to the date hereof;

            (d) This Agreement has been duly executed and delivered by the
Depositor and, assuming due authorization, execution and delivery by the
Trustee, constitutes a valid and binding obligation of the Depositor enforceable
against it in accordance with its terms;

            (e) There are no actions, suits or proceedings pending or, to the
best of the Depositor's knowledge, threatened or likely to be asserted against
or affecting the Depositor, before or by any court, administrative agency,
arbitrator or governmental body (A) with respect to any of the transactions
contemplated by this Agreement or (B) with respect to any other matter which in
the judgment of the Depositor will be determined adversely to the Depositor and
will, if determined adversely to the Depositor, materially and adversely affect
it or its business, assets, operations or condition, financial or otherwise, or
adversely affect its ability to perform its obligations under this Agreement;
and (f) Immediately prior to the consummation of the transactions contemplated
in this Agreement, the Depositor had good title to and was the sole owner of
each Mortgage Loan free and clear of any and all adverse claims, charges or
security interests (including liens arising under the federal tax laws or the
Employee Retirement Income Security Act of 1974, as amended).

            Section 2.5 Conveyance of Interests. Effective as of the Closing
Date, the Depositor does hereby transfer, assign, set over, deposit with and
otherwise convey to the Trustee, without recourse, in trust, all the right,
title and interest of the Depositor in and to (i) the REMIC I Regular Interests
in exchange for the REMIC II Interests and (ii) the REMIC II Regular Interests
in exchange for the REMIC III Certificates.

                                   ARTICLE III

                                THE CERTIFICATES

            Section 3.1 The Certificates. (a) The Certificates shall be in
substantially the forms set forth in Exhibits A-1 through A-22 hereto, with such
appropriate insertions, omissions, substitutions and other variations as are
required or permitted by this Agreement or as may in the reasonable judgment of
the Trustee or the Depositor be necessary, appropriate or convenient to comply,
or facilitate compliance, with applicable laws, and may have such letters,
numbers or other marks of identification and such legends or endorsements placed
thereon as may be required to comply with the rules of any securities exchange
on which any of the Certificates may be listed, or as may, consistently
herewith, be determined by the officers executing such Certificates, as
evidenced by their execution thereof.

            The Definitive Certificates shall be printed, typewritten,
lithographed or engraved or produced by any combination of these methods or may
be produced in any other manner permitted by the rules of any securities
exchange on which any of the Certificates may be listed, all as determined by
the officers executing such Certificates, as evidenced by their execution
thereof.

            (b) The Class A Certificates will be issuable in denominations of
$25,000 initial Certificate Balance and in any whole dollar denomination in
excess thereof. The Class X, Class B, Class C, Class D, Class E, Class F, Class
G, Class H, Class J, Class K, Class L, Class M, Class N and Class O Certificates
will be issuable in denominations of $100,000 initial Certificate Balance or
initial Notional Amount (as applicable) or in any whole dollar denomination in
excess thereof. The Class R-I, Class R-II and Class R-III Certificates will be
issued in minimum Percentage Interests of 10% and integral multiples of 10% in
excess thereof.

            (c) Each Certificate shall, on original issue, be executed by the
Certificate Registrar and authenticated by the Authenticating Agent upon the
order of the Depositor. No Certificate shall be entitled to any benefit under
this Agreement, or be valid for any purpose, unless there appears on such
Certificate a certificate of authentication substantially in the form provided
for herein, executed by an authorized officer of the Authenticating Agent by
manual signature, and such certification upon any Certificate shall be
conclusive evidence, and the only evidence, that such Certificate has been duly
authenticated and delivered hereunder. All Certificates shall be dated the date
of their authentication. At any time and from time to time after the execution
and delivery of this Agreement, the Depositor may deliver Certificates to the
Authenticating Agent for authentication and the Authenticating Agent shall
authenticate and deliver such Certificates as in this Agreement provided and not
otherwise. In the event that additional Certificates need to be prepared at any
time subsequent to the Closing Date, the Depositor shall prepare, or cause to be
prepared, deliver, or cause to be delivered, at the Depositor's expense, any
such additional Certificates. With respect to the Class A, Class X, Class B,
Class C, Class D, Class E, Class F, Class G, Class H, Class J, Class K, Class L,
Class M, Class N and Class O Certificates that are issued in book-entry form, on
the Closing Date, the Authenticating Agent upon the order of the Depositor shall
authenticate Book-Entry Certificates that are issued to a Clearing Agency or its
nominee as provided in Section 3.7 against payment of the purchase price
thereof. With respect to the Class H, Class J, Class K, Class L, Class M, Class
N and Class O Certificates that are issued in definitive form, on the Closing
Date, the Authenticating Agent upon the order of the Depositor shall
authenticate Definitive Certificates that are issued to the registered holder
thereof against payment of the purchase price thereof.

            Section 3.2 Registration. The Paying Agent shall be the initial
Certificate Registrar in respect of the Certificates and the Certificate
Registrar shall maintain books for the registration and for the transfer of
Certificates (the "Certificate Register"). The Certificate Registrar may resign
or be discharged or removed by the Paying Agent or the Certificateholders, and a
new successor may be appointed, in accordance with the procedures and
requirements set forth in Sections 7.6 and 7.7 hereof with respect to the
resignation, discharge or removal of the Paying Agent and the appointment of a
successor Paying Agent. The Certificate Registrar may appoint, by a written
instrument delivered to the Holders and the Trustee, any trust company to act as
co-registrar under such conditions as the Certificate Registrar may prescribe;
provided that the Certificate Registrar shall not be relieved of any of its
duties or responsibilities hereunder by reason of such appointment.

            Section 3.3 Transfer and Exchange of Certificates. (a) A Certificate
may be transferred by the Holder thereof only upon presentation and surrender of
such Certificate at the Corporate Trust Office, duly endorsed or accompanied by
a written instrument of transfer duly executed by such Holder or such Holder's
duly authorized attorney in such form as shall be satisfactory to the
Certificate Registrar. Upon the transfer of any Certificate in accordance with
the preceding sentence, and subject to the restrictions set forth in the other
subsections of this Section 3.3, the Certificate Registrar shall execute, and
the Authenticating Agent shall authenticate and deliver to the transferee, one
or more new Certificates of the same Class and evidencing, in the aggregate, the
same aggregate initial Certificate Balance, initial Notional Amount or
Percentage Interest, as the case may be, as the Certificate being transferred.
No service charge shall be made to a Certificateholder for any registration of
transfer of Certificates, but the Certificate Registrar may require payment of a
sum sufficient to cover any tax or governmental charge that may be imposed in
connection with any registration or transfer of Certificates. The Certificate
Registrar may decline to accept any request for a registration of transfer of
any Certificate during the period beginning five calendar days prior to any
Distribution Date.

            (b) A Certificate may be exchanged by the Holder thereof for any
number of new Certificates of the same Class, in authorized denominations,
representing in the aggregate the same initial Certificate Balance, initial
Notional Amount or Percentage Interest, as the case may be, as the Certificate
surrendered, upon surrender of the Certificate to be exchanged at the offices of
the Certificate Registrar duly endorsed or accompanied by a written instrument
of exchange duly executed by such Holder or such Holder's duly authorized
attorney in such form as is satisfactory to the Certificate Registrar.
Certificates delivered upon any such exchange will evidence the same
obligations, and will be entitled to the same rights and privileges, as the
Certificates surrendered. No service charge shall be made to a Certificateholder
for any exchange of Certificates, but the Certificate Registrar may require
payment of a sum sufficient to cover any tax or governmental charge that may be
imposed in connection with any exchange of Certificates. Whenever any
Certificates are so surrendered for exchange, the Certificate Registrar shall
execute and the Authenticating Agent shall authenticate, date and deliver the
Certificates which the Certificateholder making the exchange is entitled to
receive.

            (c) No transfer, sale, pledge or other disposition of any
Non-Registered Certificate or interest therein shall be made unless such
transfer, sale, pledge or other disposition is exempt from the registration
and/or qualification requirements of the Securities Act and any applicable state
securities laws, or is otherwise made in accordance with the Securities Act and
such state securities laws. If a transfer of any Non-Registered Certificate held
as a Definitive Certificate is to be made without registration under the
Securities Act (other than in connection with the initial issuance of the
Certificates or a transfer of such Non-Registered Certificate by the Depositor
or one of its Affiliates), then the Certificate Registrar shall refuse to
register such transfer unless it receives (and upon receipt, may conclusively
rely upon) either: (i) a certificate from the Certificateholder desiring to
effect such transfer substantially in the form attached as Exhibit D-1 hereto
and a certificate from such Certificateholder's prospective Transferee
substantially in the form attached either as Exhibit D-2A hereto or as Exhibit
D-2B hereto; or (ii) an Opinion of Counsel satisfactory to the Certificate
Registrar to the effect that such transfer shall be made without registration
under the Securities Act, together with the written certification(s) as to the
facts surrounding such transfer from the Certificateholder desiring to effect
such transfer and/or such Certificateholder's prospective Transferee on which
such Opinion of Counsel is based (such Opinion of Counsel shall not be an
expense of the Trust or of the Depositor, the Master Servicer, the Special
Servicer, the Paying Agent, the Trustee or the Certificate Registrar in their
respective capacities as such). If a transfer of any interest in a
Non-Registered Certificate that constitutes a Book-Entry Certificate is to be
made without registration under the Securities Act (other than in connection
with the initial issuance of the Certificates or a transfer of any interest in
such Non-Registered Certificate by the Depositor or any of its Affiliates), then
the Certificate Owner desiring to effect such transfer shall be required to
obtain either (i) a certificate from such Certificate Owner's prospective
Transferee substantially in the form attached as Exhibit D-3A hereto or as
Exhibit D-3B hereto, or (ii) an Opinion of Counsel to the effect that such
transfer may be made without registration under the Securities Act. None of the
Depositor, the Fiscal Agent, the Paying Agent, the Trustee, the Master Servicer,
the Special Servicer or the Certificate Registrar is obligated to register or
qualify any Class of Non-Registered Certificates under the Securities Act or any
other securities law or to take any action not otherwise required under this
Agreement to permit the transfer of any Certificate. Any Certificateholder or
Certificate Owner desiring to effect a transfer of Non-Registered Certificates
or interests therein shall, and does hereby agree to, indemnify the Depositor,
each Underwriter, the Trustee, the Fiscal Agent, the Master Servicer, the
Special Servicer, the Paying Agent and the Certificate Registrar against any
liability that may result if the transfer is not exempt from such registration
or qualification or is not made in accordance with such federal and state laws.

            (d) No transfer of a Non-Investment Grade Certificate or Residual
Certificate or any interest therein shall be made (A) to any employee benefit
plan or other retirement arrangement, including individual retirement accounts
and annuities, Keogh plans and collective investment funds and separate accounts
in which such plans, accounts or arrangements are invested, including, without
limitation, insurance company general accounts, that is subject to ERISA or
Section 4975 of the Code or any applicable federal, state or local law ("Similar
Laws") materially similar to the foregoing provisions of ERISA or the Code
(each, a "Plan"), (B) in book-entry form to an Institutional Accredited Investor
who is not also a Qualified Institutional Buyer or (C) to any Person who is
directly or indirectly purchasing such Certificate or interest therein on behalf
of, as named fiduciary of, as trustee of, or with "plan assets" of a Plan,
unless: (i) in the case of a Non-Investment Grade Certificate that constitutes a
Book-Entry Certificate and is being sold to a Qualified Institutional Buyer, the
purchase and holding of such Certificate or interest therein qualifies for the
exemptive relief available under Sections I and III of U.S. Department of Labor
Prohibited Transaction Class Exemption ("PTCE") 95-60; or (ii) in the case of a
Non-Investment Grade Certificate held as a Definitive Certificate, the
prospective Transferee provides the Certificate Registrar with a certification
of facts and an Opinion of Counsel which establish to the satisfaction of the
Certificate Registrar that such transfer will not constitute or result in a
non-exempt prohibited transaction under Section 406 of ERISA or Section 4975 of
the Code or subject the Depositor, the Trustee, the Fiscal Agent, the Paying
Agent, the Master Servicer, the Special Servicer or the Certificate Registrar to
any obligation in addition to those undertaken in this Agreement. Each Person
who acquires any Non-Investment Grade Certificate or Residual Certificate or
interest therein (unless it shall have acquired such Certificate or interest
therein from the Depositor or an Affiliate thereof or, in the case of a
Non-Investment Grade Certificate, unless it shall have delivered to the
Certificate Registrar the certification of facts and Opinion of Counsel referred
to in clause (ii) of the preceding sentence) shall be required to deliver to the
Certificate Registrar (or, in the case of an interest in a Non-Investment Grade
Certificate that constitutes a Book-Entry Certificate, to the Certificate Owner
that is transferring such interest) a certification to the effect that: (i) it
is neither a Plan nor any Person who is directly or indirectly purchasing such
Certificate or interest therein on behalf of, as named fiduciary of, as trustee
of, or with "plan assets" of a Plan; or (ii) in the case of a Non-Investment
Grade Certificate, that the purchase and holding of such Certificate or interest
therein by such person qualifies for the exemptive relief available under
Sections I and III of PTCE 95-60 or another exemption from the "prohibited
transactions" rules under ERISA by the U.S. Department of Labor. No transfer of
a Residual Certificate will be made to any Person that does not make the
representation in clause (i) of the preceding sentence.

            (e) Each Person who has or who acquires any Ownership Interest in a
Residual Certificate shall be deemed by the acceptance or acquisition of such
Ownership Interest to have agreed to be bound by the following provisions and to
have irrevocably authorized the Paying Agent under clause (F) below to deliver
payments to a Person other than such Person and to have irrevocably authorized
the Certificate Registrar under clause (G) below to negotiate the terms of any
mandatory sale and to execute all instruments of Transfer and to do all other
things necessary in connection with any such sale. The rights of such person
acquiring any Ownership Interest in a Residual Certificate are expressly subject
to the following provisions:

                  (A) Each Person holding or acquiring any Ownership Interest in
            a Residual Certificate shall be a Permitted Transferee and a United
            States Tax Person and shall promptly notify the Certificate
            Registrar of any change or impending change in its status as a
            Permitted Transferee.

                  (B) In connection with any proposed Transfer of any Ownership
            Interest in a Residual Certificate, the Certificate Registrar shall
            require delivery to it, and no Transfer of any Residual Certificate
            shall be registered until the Certificate Registrar receives, an
            affidavit and agreement substantially in the form attached hereto as
            Exhibit E-1 (a "Transfer Affidavit and Agreement") from the proposed
            Transferee, in form and substance satisfactory to the Certificate
            Registrar, representing and warranting, among other things, that
            such Transferee is a Permitted Transferee, that it is not acquiring
            its Ownership Interest in the Residual Certificate that is the
            subject of the proposed Transfer as a nominee, trustee or agent for
            any Person that is not a Permitted Transferee, that for so long as
            it retains its Ownership Interest in a Residual Certificate, it will
            endeavor to remain a Permitted Transferee, that it is a United
            States Person, that it has historically paid its debts as they have
            come due and will continue to do so in the future, that it
            understands that its tax liability with respect to the Residual
            Certificates may exceed cash flows thereon and it intends to pay
            such taxes as they come due, that it will provide the Certificate
            Registrar with all information necessary to determine that the
            applicable paragraphs of Section 13 of such Transfer Affidavit and
            Agreement are true or that Section 13 is not applicable, and that it
            has reviewed the provisions of this Section 3.3(e) and agrees to be
            bound by them.

                  (C) Notwithstanding the delivery of a Transfer Affidavit and
            Agreement by a proposed Transferee under clause (B) above, if the
            Certificate Registrar has actual knowledge that the proposed
            Transferee is not a Permitted Transferee or is not a United States
            Person, no Transfer of an Ownership Interest in a Residual
            Certificate to such proposed Transferee shall be effected.

                  (D) Each Person holding or acquiring an Ownership Interest in
            a Residual Certificate shall agree (1) to require a Transfer
            Affidavit and Agreement from any prospective Transferee to whom such
            Person attempts to transfer its Ownership Interest in such Residual
            Certificate and (2) not to transfer its Ownership Interest in such
            Residual Certificate unless it provides to the Certificate Registrar
            a certificate substantially in the form attached hereto as Exhibit
            E-2 among other things stating that (x) it has conducted a
            reasonable investigation of the financial condition of the proposed
            Transferee and, as a result of the investigation, the Transferor
            determines that the proposed Transferee had historically paid its
            debts as they came due and found no significant evidence that the
            proposed Transferee will not continue to pay its debts as they come
            due in the future and, (y) it has no actual knowledge that such
            prospective Transferee is not a Permitted Transferee or is not a
            United States Person.

                  (E) Each Person holding or acquiring an Ownership Interest in
            a Residual Certificate that is a "pass-through interest holder"
            within the meaning of temporary Treasury Regulation Section
            1.67-3T(a)(2)(i)(A) or is holding an Ownership Interest in a
            Residual Certificate on behalf of a "pass-through interest holder",
            by purchasing an Ownership Interest in such Certificate, agrees to
            give the Certificate Registrar written notice of its status as such
            immediately upon holding or acquiring such Ownership Interest in a
            Residual Certificate.

                  (F) If any purported Transferee shall become a Holder of a
            Residual Certificate in violation of the provisions of this Section
            3.3(e) or if any Holder of a Residual Certificate shall lose its
            status as a Permitted Transferee or a United States Person, then the
            last preceding Holder of such Residual Certificate that was in
            compliance with the provisions of this Section 3.3(e) shall be
            restored, to the extent permitted by law, to all rights and
            obligations as Holder thereof retroactive to the date of
            registration of such Transfer of such Residual Certificate. None of
            the Trustee, the Fiscal Agent, the Master Servicer, the Special
            Servicer, the Certificate Registrar or the Paying Agent shall be
            under any liability to any Person for any registration of Transfer
            of a Residual Certificate that is in fact not permitted by this
            Section 3.3(e) or for making any payments due on such Certificate to
            the Holder thereof or for taking any other action with respect to
            such Holder under the provisions of this Agreement.

                  (G) If any purported Transferee shall become a Holder of a
            Residual Certificate in violation of the restrictions in this
            Section 3.3(e), or if any Holder of a Residual Certificate shall
            lose its status as a Permitted Transferee or a United States Person,
            and to the extent that the retroactive restoration of the rights and
            obligations of the prior Holder of such Residual Certificate as
            described in clause (F) above shall be invalid, illegal or
            unenforceable, then the Trustee shall have the right, without notice
            to the Holder or any prior Holder of such Residual Certificate, but
            not the obligation, to sell or cause to be sold such Residual
            Certificate to a purchaser selected by the Trustee on such terms as
            the Trustee may choose. Such noncomplying Holder shall promptly
            endorse and deliver such Residual Certificate in accordance with the
            instructions of the Certificate Registrar. Such purchaser may be the
            Certificate Registrar itself or any Affiliate of the Certificate
            Registrar. The proceeds of such sale, net of the commissions (which
            may include commissions payable to the Certificate Registrar or its
            Affiliates), expenses and taxes due, if any, will be remitted by the
            Certificate Registrar to such noncomplying Holder. The terms and
            conditions of any sale under this clause (G) shall be determined in
            the sole discretion of the Certificate Registrar, and the
            Certificate Registrar shall not be liable to any Person having an
            Ownership Interest in a Residual Certificate as a result of its
            exercise of such discretion.

The Trustee, shall make available, upon written request from the Paying Agent,
to the Internal Revenue Service and those Persons specified by the REMIC
Provisions, all information necessary to compute any tax imposed as a result of
the Transfer of an Ownership Interest in a Residual Certificate to any Person
who is not a Permitted Transferee, including the information described in
Treasury Regulations Sections 1.860D-1(b)(5) and 1.860E-2(a)(5) with respect to
the "excess inclusions" of such Residual Certificate. The Person holding the
Ownership Interest in a Residual Certificate shall be responsible for the
reasonable compensation of the Trustee for providing such information. The
Master Servicer shall take all reasonable action to cooperate with the Trustee
in making such information available.

            The provisions of this Section 3.3(e) may be modified, added to or
eliminated, provided that there shall have been delivered to the Trustee, the
Paying Agent, the Certificate Registrar, the Master Servicer, the Operating
Adviser and the Depositor the following:

                  (A) written notification from each Rating Agency to the effect
            that the modification of, addition to or elimination of such
            provisions will not cause such Rating Agency to qualify, downgrade
            or withdraw its then current rating of any Class of Certificates;
            and

                  (B) an Opinion of Counsel, in form and substance satisfactory
            to the Trustee, the Certificate Registrar and the Depositor, to the
            effect that such modification of, addition to or elimination of such
            provisions will not cause any of REMIC I, REMIC II or REMIC III to
            (x) cease to qualify as a REMIC or (y) be subject to an entity-level
            tax caused by the Transfer of any Residual Certificate to a Person
            which is not a Permitted Transferee, or cause a Person other than
            the prospective Transferee to be subject to a tax caused by the
            Transfer of a Residual Certificate to a Person which is not a
            Permitted Transferee.

            (f) None of the Master Servicer, the Special Servicer, the Trustee,
the Fiscal Agent, the Paying Agent or the Certificate Registrar shall have any
liability to the Trust arising from a transfer of any Certificate in reliance
upon a certification, ruling or Opinion of Counsel described in this Section
3.3; provided, however, that the Certificate Registrar shall not register the
transfer of a Residual Certificate if it has actual knowledge that the proposed
transferee does not meet the qualifications of a permitted Holder of a Residual
Certificate as set forth in Section 3.3(e); provided, further, that the
Certificate Registrar shall not register the transfer of a Noneconomic Residual
Interest if it shall have received notice that the Transferor has determined, as
a result of the investigation under Section 3.3(e)(D), that the proposed
Transferee has not paid its debts as they came due or that it will not pay its
debts as they come due in the future. The Certificate Registrar shall have no
obligation or duty to monitor, determine or inquire as to compliance with any
restriction on transfer or exchange of Certificates or any interest therein
imposed under this Article III or under applicable law other than to require
delivery of the certifications and/or opinions described in this Article III;
provided, however, that the Certificate Registrar shall not register the
transfer of a Residual Certificate if it has actual knowledge that the proposed
transferee does not meet the qualifications of a permitted Holder of a Residual
Certificate as set forth in Section 3.3(e). The Certificate Registrar shall have
no liability for transfers (including without limitation transfers made through
the book-entry facilities of the Depository or between or among Participants or
Certificate Owners) made in violation of applicable restrictions, provided that
the Certificate Registrar has satisfied its duties expressly set forth in
Sections 3.3(c), 3.3(d) and 3.3(e).

            (g) All Certificates surrendered for transfer and exchange shall be
physically cancelled by the Certificate Registrar, and the Certificate Registrar
shall hold such cancelled Certificates in accordance with its standard
procedures.

            (h) The Certificate Registrar shall provide the Master Servicer, the
Special Servicer and the Depositor, upon written request, with an updated copy
of the Certificate Register within a reasonable period of time following receipt
of such request.

            (i) Unless and until it is exchanged in whole for the individual
Certificates represented thereby, a Global Certificate representing all of the
Certificates of a Class may not be transferred, except as a whole by the
Depository to a nominee of the Depository or by a nominee of the Depository to
the Depository or another nominee of the Depository or by the Depository or any
such nominee to a successor Clearing Agency or a nominee of such successor
Clearing Agency, and no such transfer to any such other Person may be
registered; provided that this subsection (i) shall not prohibit any transfer of
a Certificate of a Class that is issued in exchange for a Global Certificate of
the same Class pursuant to Section 3.9 below. Nothing in this subsection (i)
shall prohibit or render ineffective any transfer of a beneficial interest in a
Global Certificate effected in accordance with the other provisions of this
Section 3.3.

            Section 3.4 Mutilated, Destroyed, Lost or Stolen Certificates. If
(A) any mutilated Certificate is surrendered to the Certificate Registrar, or
the Certificate Registrar receives evidence to its satisfaction of the
destruction, loss or theft of any Certificate and (B) except in the case of a
mutilated Certificate so surrendered, there is delivered to the Certificate
Registrar such security or indemnity as may be required by it to save it
harmless, then, in the absence of notice to the Certificate Registrar that such
Certificate has been acquired by a bona fide purchaser, the Certificate
Registrar shall execute, and the Authenticating Agent shall authenticate and
deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or
stolen Certificate, a new Certificate of like tenor and interest in the Trust.
In connection with the issuance of any new Certificate under this Section 3.4,
the Certificate Registrar may require the payment of a sum sufficient to cover
any tax or other governmental charge that may be imposed in relation thereto and
any other expenses (including the fees and expenses of the Certificate
Registrar) connected therewith. Any replacement Certificate issued pursuant to
this Section 3.4 shall constitute complete and indefeasible evidence of
ownership in the Trust, as if originally issued, whether or not the lost, stolen
or destroyed Certificate shall be found at any time.

            Section 3.5 Persons Deemed Owners. Prior to presentation of a
Certificate for registration of transfer, the Master Servicer, the Special
Servicer, the Fiscal Agent, the Trustee, the Operating Adviser, the Paying Agent
and any agent of the Master Servicer, the Special Servicer, the Fiscal Agent,
the Paying Agent, the Trustee or the Operating Adviser may treat the Person in
whose name any Certificate is registered as of the related Record Date as the
owner of such Certificate for the purpose of receiving distributions as provided
in this Agreement and for all other purposes whatsoever, and neither the Master
Servicer, the Special Servicer, the Fiscal Agent, the Trustee, the Paying Agent,
the Operating Adviser nor any agent of the Master Servicer, the Special
Servicer, the Fiscal Agent, the Trustee, the Paying Agent or the Operating
Adviser shall be affected by any notice to the contrary.

            Section 3.6 Access to List of Certificateholders' Names and
Addresses. If three or more Certificateholders, a Certificateholder holding all
the Certificates of any Class of Certificates, the Master Servicer, the Special
Servicer, the Paying Agent, the Trustee, the Operating Adviser or the Depositor
(A) request in writing from the Certificate Registrar a list of the names and
addresses of Certificateholders and (B) in the case of a request by
Certificateholders, state that such Certificateholders desire to communicate
with other Certificateholders with respect to their rights under this Agreement
or under the Certificates, then the Certificate Registrar shall, within ten
Business Days after the receipt of such request, afford such Certificateholders,
the Master Servicer, the Special Servicer, the Depositor, the Paying Agent, the
Trustee or the Operating Adviser, as applicable, access during normal business
hours to a current list of the Certificateholders. The expense of providing any
such information requested by such Person shall be borne by the party requesting
such information and shall not be borne by the Certificate Registrar or the
Trustee. Every Certificateholder, by receiving and holding a Certificate, agrees
that the Certificate Registrar and the Trustee shall not be held accountable by
reason of the disclosure of any such information as to the list of the
Certificateholders hereunder, regardless of the source from which such
information was derived.

            Section 3.7 Book-Entry Certificates. (a) The Class A-1, Class A-2,
Class A-3, Class A-4, Class X-1, Class X-2, Class B, Class C, Class D, Class E,
Class F, Class G, Class H, Class J, Class K, Class L, Class M, Class N and Class
O Certificates, upon original issuance, each shall be issued in the form of one
or more Certificates representing the Book-Entry Certificates, to be delivered
to the Certificate Registrar, as custodian for The Depository Trust Company (the
"Depository"), the initial Clearing Agency, by, or on behalf of, the Depositor,
provided that any Non-Investment Grade Certificates sold to Institutional
Accredited Investors who are not Qualified Institutional Buyers will be issued
as Definitive Certificates. The Certificates shall initially be registered on
the Certificate Register in the name of Cede & Co., the nominee of the
Depository, as the initial Clearing Agency, and no Certificate Owner will
receive a definitive certificate representing such Certificate Owner's interest
in the Certificates, except as provided in Section 3.9. Unless and until
Definitive Certificates have been issued to the Certificate Owners pursuant to
Section 3.9:

            (i) the provisions of this Section 3.7 shall be in full force and
      effect with respect to each such Class;

            (ii) the Depositor, the Master Servicer, the Paying Agent, the
      Certificate Registrar and the Trustee may deal with the Clearing Agency
      for all purposes (including the making of distributions on the
      Certificates) as the authorized representative of the Certificate Owners;

            (iii) to the extent that the provisions of this Section 3.7 conflict
      with any other provisions of this Agreement, the provisions of this
      Section 3.7 shall control with respect to each such Class; and

            (iv) the rights of the Certificate Owners of each such Class shall
      be exercised only through the Clearing Agency and the applicable
      Participants and shall be limited to those established by law and
      agreements between such Certificate Owners and the Clearing Agency and/or
      the Participants. Pursuant to the Depository Agreement, unless and until
      Certificates are issued pursuant to Section 3.9, the initial Clearing
      Agency will make book-entry transfers among the Participants and receive
      and transmit distributions of principal and interest on the related
      Certificates to such Participants.

            (b) For purposes of any provision of this Agreement requiring or
permitting actions with the consent of, or at the direction of, Holders of the
Certificates evidencing a specified percentage of the aggregate unpaid principal
amount of Certificates, such direction or consent may be given by the Clearing
Agency at the direction of Certificate Owners owning Certificates evidencing the
requisite percentage of principal amount of Certificates. The Clearing Agency
may take conflicting actions with respect to the Certificates to the extent that
such actions are taken on behalf of the Certificate Owners.

            (c) The Certificates of each Class (other than the Residual
Certificates) initially sold in reliance on Rule 144A or with respect to the
Class A-1, Class A-2, Class A-3, Class A-4, Class B, Class C, Class D, Class E,
Class F and Class G Certificates sold to Institutional Accredited Investors
shall be represented by the Rule 144A-IAI Global Certificate for such Class,
which shall be deposited with the Certificate Registrar, as custodian for the
Depository and registered in the name of Cede & Co. as nominee of the
Depository. The Class H, Class J, Class K, Class L, Class M, Class N and Class O
Certificates initially sold to Institutional Accredited Investors shall
represented by IAI Definitive Certificates for such Class. The Certificates
evidenced by any Rule 144A-IAI Global Certificate or IAI Definitive Certificate
shall be subject to certain restrictions on transfer as set forth in Section 3.3
hereof and shall bear legend(s) regarding such restrictions described herein.

            (d) The Certificates of each Class (other than the Residual
Certificates) initially sold in offshore transactions in reliance on Regulation
S shall be represented by the Regulation S Temporary Global Certificate for such
Class, which shall be deposited with the Certificate Registrar, as custodian for
the Depository and registered in the name of Cede & Co. as nominee of the
Depository. Not earlier than the Release Date, beneficial interests in any
Regulation S Temporary Global Certificate shall be exchangeable for beneficial
interests in the Regulation S Permanent Global Certificate for such Class.
Beneficial interests in any Regulation S Temporary Global Certificate may be
held only through Euroclear or Clearstream; provided, however, that such
interests may be exchanged for interests in the Rule 144A-IAI Global Certificate
for such Class in accordance with the certification requirements described in
Section 3.7(f). The Regulation S Permanent Global Certificates shall be
deposited with the Certificate Registrar, as custodian for the Depository and
registered in the name of Cede & Co. as nominee of the Depository.

            On or prior to the Release Date and on or prior to any Distribution
Date occurring prior to the Release Date, each Certificate Owner of a Regulation
S Temporary Global Certificate that holds a beneficial interest therein on the
Release Date or on any such Distribution Date, as the case may be, must deliver
to Euroclear or Clearstream (as applicable) a Regulation S Certificate;
provided, however, that any Certificate Owner that holds a beneficial interest
in a Regulation S Temporary Global Certificate on the Release Date or on any
such Distribution Date that has previously delivered a Regulation S Certificate
to Euroclear or Clearstream with respect to its interest therein does not need
to deliver any subsequent Regulation S Certificate (unless the certificate
previously delivered is no longer true as of such subsequent date, and such
Certificate Owner must promptly notify Euroclear or Clearstream, as applicable,
thereof). Euroclear or Clearstream, as applicable, shall be required to promptly
deliver to the Certificate Registrar a certificate substantially in the form of
Exhibit I hereto to the effect that it has received the requisite Regulation S
Certificates for each such Class, and no Certificate Owner (or transferee from
any such Certificate Owner) shall be entitled to receive an interest in the
Regulation S Permanent Global Certificate for such Class or any payment or
principal or interest with respect to its interest in such Regulation S
Temporary Global Certificate prior to the Certificate Registrar receiving such
certification from Euroclear or Clearstream with respect to the portion of the
Regulation S Temporary Global Certificate owned by such Certificate Owner (and,
with respect to an interest in the applicable Regulation S Permanent Global
Certificate, prior to the Release Date). After the Release Date, distributions
due with respect to any beneficial interest in a Regulation S Temporary Global
Certificate shall not be made to the holders of such beneficial interests unless
exchange for a beneficial interest in the related Regulation S Permanent Global
Certificate is improperly withheld or refused. No interest in a Regulation S
Global Certificate may be held by or transferred to a U.S. Person (as defined in
Regulation S) except for exchanges for a beneficial interest in the Rule
144A-IAI Global Certificate for such Class as described in Section 3.7(f).

            (e) Except in the limited circumstances described below in Section
3.9, owners of beneficial interests in Global Certificates shall not be entitled
to receive physical delivery of Definitive Certificates. The Certificates are
not issuable in bearer form. Upon the issuance of each Global Certificate, the
Depository or its custodian shall credit, on its internal system, the respective
principal amount of the individual beneficial interests represented by such
Global Certificate to the accounts of Persons who have accounts with such
Depository. Such accounts initially shall be designated by or on behalf of the
Underwriters and Placement Agent. Ownership of beneficial interests in a Global
Certificate shall be limited to Customers or Persons who hold interests directly
or indirectly through Customers. Ownership of beneficial interests in the Global
Certificates shall be shown on, and the transfer of that ownership shall be
effected only through, records maintained by the Depository or its nominee (with
respect to interests of Customers) and the records of Customers (with respect to
interests of Persons other than Customers).

            So long as the Depository, or its nominee, is the registered holder
of a Global Certificate, the Depository or such nominee, as the case may be,
shall be considered the sole owner and holder of the Certificates represented by
such Global Certificate for all purposes under this Agreement and the
Certificates, including, without limitation, obtaining consents and waivers
thereunder, and the Trustee, the Paying Agent and the Certificate Registrar
shall not be affected by any notice to the contrary. Except under the
circumstance described in Section 3.9, owners of beneficial interests in a
Global Certificate will not be entitled to have any portions of such Global
Certificate registered in their names, will not receive or be entitled to
receive physical delivery of Definitive Certificates in certificated form and
shall not be considered the owners or holders of the Global Certificate (or any
Certificates represented thereby) under this Agreement or the Certificates. In
addition, no Certificate Owner of an interest in a Global Certificate shall be
able to transfer that interest except in accordance with the Depository's
applicable procedures (in addition to those under this Agreement and, if
applicable, those of Euroclear and Clearstream).

            (f) Any holder of an interest in a Regulation S Global Certificate
shall have the right, upon prior written notice to the Certificate Registrar,
Euroclear or Clearstream, as applicable, and the Depository, in the form of an
Exchange Certification (substantially in the form of Exhibit H attached hereto),
to exchange all or a portion of such interest (in authorized denominations as
set forth in Section 3.1(b)) for an equivalent interest in the Rule 144A-IAI
Global Certificate for such Class in connection with a transfer of its interest
therein to a transferee that is eligible to hold an interest in such Rule
144A-IAI Global Certificate as described herein; provided, however, that no
Exchange Certification shall be required if any such exchange occurs after the
Release Date. Any holder of an interest in the Rule 144A-IAI Global Certificate
shall have the right, upon prior written notice to the Certificate Registrar,
the Depository and Euroclear or Clearstream, as applicable, in the form of an
Exchange Certification, to exchange all or a portion of such interest (in
authorized denominations as set forth in Section 3.1(b)) for an equivalent
interest in the Regulation S Global Certificate for such Class in connection
with a transfer of its interest therein to a transferee that is eligible to hold
an interest in such Regulation S Global Certificate as described herein;
provided, however, that if such exchange occurs prior to the Release Date, the
transferee shall acquire an interest in a Regulation S Temporary Global
Certificate only and shall be subject to all of the restrictions associated
therewith described in Section 3.7(d). Following receipt of any Exchange
Certification or request for transfer, as applicable, by the Certificate
Registrar: (i) the Certificate Registrar shall endorse the schedule to any
Global Certificate representing the Certificate or Certificates being exchanged
to reduce the stated principal amount of such Global Certificate by the
denominations of the Certificate or Certificates for which such exchange is to
be made, and (ii) the Certificate Registrar shall endorse the schedule to any
Global Certificate representing the Certificate or Certificates for which such
exchange is to be made to increase the stated principal amount of such Global
Certificate by the denominations of the Certificate or Certificates being
exchanged therefor. The form of the Exchange Certification shall be available
from the Certificate Registrar.

            Section 3.8 Notices to Clearing Agency. Whenever notice or other
communication to the Certificateholders is required under this Agreement, unless
and until Definitive Certificates shall have been issued to the related
Certificateholders pursuant to Section 3.9, the Paying Agent shall give all such
notices and communications specified herein to be given to Holders of the
Book-Entry Certificates to the Clearing Agency which shall give such notices and
communications to the related Participants in accordance with its applicable
rules, regulations and procedures.

            Section 3.9 Definitive Certificates. (a) Definitive Certificates
will be issued to the owners of beneficial interests in a Global Certificate or
their nominees if (i) the Clearing Agency notifies the Depositor and the
Certificate Registrar in writing that the Clearing Agency is unwilling or unable
to continue as depositary for such Global Certificate and a qualifying successor
depositary is not appointed by the Depositor within 90 days thereof, (ii) the
Trustee has instituted or caused to be instituted or has been directed to
institute any judicial proceeding in a court to enforce the rights of the
Certificateholders under this Agreement and under such Global Certificate and
the Trustee has been advised by counsel that in connection with such proceeding
it is necessary or advisable for the Trustee or its custodian to obtain
possession of such Global Certificate, or (iii) after the occurrence of an Event
of Default, Certificate Owners representing a majority in aggregate outstanding
Certificate Balance of such Global Certificate advise the Clearing Agency
through the Participants in writing (and the Clearing Agency so advises the
Depositor, the Certificate Registrar and the Master Servicer in writing) that
the continuation in global form of the Certificates being evidenced by such
Global Certificate is no longer in their best interests; provided that under no
circumstances will Definitive Certificates be issued to Certificate Owners of
the Regulation S Temporary Global Certificate. Upon notice of the occurrence of
any of the events described in the preceding sentence, the Certificate Registrar
shall notify the Clearing Agency and request the Clearing Agency to notify all
Certificate Owners, through the applicable Participants, of the occurrence of
the event and of the availability of Definitive Certificates to such Certificate
Owners requesting the same. Upon surrender to the Certificate Registrar of the
Global Certificates by the Clearing Agency, accompanied by registration
instructions from the Clearing Agency for registration, the Certificate
Registrar shall execute, and the Authenticating Agent shall authenticate and
deliver, the Definitive Certificates. None of the Depositor, the Trustee, the
Paying Agent, the Certificate Registrar or the Fiscal Agent shall be liable for
any delay in delivery of such instructions and may conclusively rely on, and
shall be protected in relying on, such instructions. Upon the issuance of
Definitive Certificates, all references herein to obligations imposed upon or to
be performed by the Clearing Agency shall be deemed to be imposed upon and
performed by the Certificate Registrar, to the extent applicable with respect to
such Definitive Certificates, and the Certificate Registrar and the Trustee and
the Paying Agent shall recognize the Holders of Definitive Certificates as
Certificateholders hereunder.

            (b) Distributions of principal and interest on the Definitive
Certificates shall be made by the Paying Agent directly to holders of Definitive
Certificates in accordance with the procedures set forth in this Agreement.

                                   ARTICLE IV

                                    ADVANCES

            P&I Advances and Servicing Advances shall be made as provided herein
by the Master Servicer and, if the Master Servicer does not make such Advances,
by the Trustee and if the Trustee does not make such Advances, by the Fiscal
Agent except to the extent that the Master Servicer, the Trustee or the Fiscal
Agent, as applicable, determines in accordance with Section 4.4 below, that any
such Advance would be a Nonrecoverable Advance. In addition, the Special
Servicer may, but is not required to, make Servicing Advances on an emergency
basis.

            Section 4.1 P&I Advances by Master Servicer. (a) On or prior to the
Advance Report Date, the Master Servicer shall notify the Trustee and the Paying
Agent (and the holder of the One Seaport Plaza Companion Loan if the Advance
relates to the One Seaport Plaza Loan Pair) if the P&I Advance Amount for such
Distribution Date is greater than zero, and the Master Servicer shall only make
a P&I Advance in respect of each Mortgage Loan and One Seaport Plaza Companion
Loan of such amount on the Master Servicer Remittance Date. Notwithstanding the
foregoing and subject to the provisions of Section 4.4 regarding the making of
Nonrecoverable Advances, for the Post Determination Date Mortgage Loans, the
Master Servicer hereby agrees that, if the applicable Scheduled Payment has not
been received on or before the Master Servicer Remittance Date, but is scheduled
to be received in the same month as the Master Servicer Remittance Date, the
Master Servicer shall make the applicable P&I Advance in respect of such
Scheduled Payment; provided, however, the Master Servicer's right to earn
interest on such P&I Advance is limited as provided in Section 4.5 hereof. It is
understood that the obligation of the Master Servicer to make such P&I Advances
is mandatory and shall apply through any court appointed stay period or similar
payment delay resulting from any insolvency of the Mortgagor or related
bankruptcy, notwithstanding any other provision of this Agreement.
Notwithstanding the foregoing, the Master Servicer shall not be required to make
such P&I Advance, if the Master Servicer determines, in accordance with Section
4.4 below, that any such P&I Advance would be a Nonrecoverable Advance. Such
determination shall be conclusive and binding on the Trustee, the Fiscal Agent,
the Certificateholders and, in the case of the One Seaport Plaza Pari Passu
Loan, the holder of the One Seaport Plaza Companion Loan. The Master Servicer,
the Trustee and the Fiscal Agent shall not advance default interest, Balloon
Payments or Prepayment Premiums; provided, however, that the Master Servicer
shall advance Assumed Scheduled Payments, as set forth below. The Special
Servicer shall not make P&I Advances under this Agreement. If the Master
Servicer fails to make a P&I Advance, it shall promptly notify the Trustee and
the Paying Agent of such failure.

            Notwithstanding the preceding paragraph, with respect to any Post
Determination Date Mortgage Loan that is a Balloon Mortgage Loan, the Principal
Primary Servicer shall determine, on or prior to the Determination Date
immediately prior to such Post Determination Date Mortgage Loan's Maturity Date,
whether it anticipates payment of the related Balloon Payment prior to the
application of default interest and Late Fees. If the Principal Primary Servicer
determines that it anticipates payment of the related Balloon Payment prior to
the application of default interest and Late Fees, then such Primary Servicer
shall (a) notify the Master Servicer of such determination on such Determination
Date and (b) upon determining that a Balloon Advance is necessary, and that such
Advance would not be a Nonrecoverable Advance, advance such Balloon Payment
directly to the Trustee by 2:00 p.m. New York City time on the related Master
Servicer Remittance Date. If the Principal Primary Servicer determines that it
does not anticipate payment of such Balloon Payment prior to the application of
default interest and Late Fees, then (a) such Primary Servicer shall notify the
Master Servicer of such determination on the related Determination Date and (b)
upon determining that an Advance of an Assumed Scheduled Payment is necessary,
and that such Advance would not be a Nonrecoverable Advance, the Master Servicer
shall advance the Assumed Scheduled Payment on the related Master Servicer
Remittance Date. In such case, the Master Servicer shall advance the Assumed
Scheduled Payment on each successive Master Servicer Remittance Date until it
receives notification from the Principal Primary Servicer on a Determination
Date that the Principal Primary Servicer anticipates payment of the Balloon
Payment prior to the application of default interest and Late Fees. The Master
Servicer's sole obligation with respect to notification by the Principal Primary
Servicer that it is making the Balloon Advance is to properly and timely report
such Advance on the Advance Report Date. To the extent it received timely
notification from the Master Servicer of the Principal Primary Servicer's intent
to make a Balloon Advance, the Trustee shall include in the Monthly
Certificateholders' Report a notification that such Balloon Advance has been
made and may be subsequently found to be a Nonrecoverable Advance. If such
Balloon Advance is determined to be a Nonrecoverable Advance, in addition to its
other rights hereunder, the Principal Primary Servicer shall have an option (the
"Principal Primary Servicer Option") to purchase such Mortgage Loan from the
Trust, which Principal Primary Servicer Option shall be prior to any option to
purchase such Mortgage Loan granted to any other person hereunder (including,
without limitation, any option granted pursuant to Section 9.36) at a price
equal to the Balloon Advance, and may offset such Balloon Advance against the
Purchase Price.

            (b) If the Master Servicer determines that there is a P&I Advance
Amount for a Distribution Date, the Master Servicer shall on the Master Servicer
Remittance Date either (A) deposit in the Certificate Account an amount equal to
the P&I Advance Amount or (B) utilize funds in the Certificate Account (or, in
the case of the One Seaport Plaza Companion Loan, the related One Seaport Plaza
Companion Loan Custodial Account) being held for future distributions or
withdrawals to make such Advance. The Master Servicer shall make any such P&I
Advance on a One Seaport Plaza Companion Loan to the related holder of the One
Seaport Plaza Companion Loan. Any funds being held in the Certificate Account or
a One Seaport Plaza Companion Loan Custodial Account for future distribution or
withdrawal and so used shall be replaced by the Master Servicer from its own
funds by deposit in the Certificate Account (or One Seaport Plaza Companion Loan
Custodial Account) on or before any future Master Servicer Remittance Date to
the extent that funds in the Certificate Account (or One Seaport Plaza Companion
Loan Custodial Account) on such Master Servicer Remittance Date shall be less
than payments to the Paying Agent or other Persons required to be made on such
date.

            Section 4.2 Servicing Advances. The Master Servicer and, if the
Master Servicer does not, the Trustee to the extent the Trustee receives written
notice from the Paying Agent that such Advance has not been made by the Master
Servicer, and if the Trustee does not, the Fiscal Agent (if the Fiscal Agent has
knowledge that such Advance is required to be made) shall make Servicing
Advances to the extent provided in this Agreement, except to the extent that the
Master Servicer, the Trustee or the Fiscal Agent, as applicable, determines in
accordance with Section 4.4 below, that any such Advance would be a
Nonrecoverable Advance. Such determination by the Master Servicer shall be
conclusive and binding on the Trustee and the Certificateholders and, in the
case of the One Seaport Plaza Pari Passu Loan, the holder of the One Seaport
Plaza Companion Loan. The Special Servicer shall not be required to make
Servicing Advances under this Agreement. The Special Servicer shall notify the
Master Servicer that a Servicing Advance is required in connection with a
Specially Serviced Mortgage Loan or REO Property, and the Master Servicer shall
make such Servicing Advance within five Business Days of receipt of such notice.
The Master Servicer may rely upon the Special Servicer's request as confirming
such requested Advance would not be a Nonrecoverable Advance. Promptly after
discovering that the Master Servicer has failed to make a Servicing Advance that
the Master Servicer is required to make hereunder, the Paying Agent shall
promptly notify the Trustee in writing of the failure by the Master Servicer to
make such Servicing Advance.

            Section 4.3 Advances by the Trustee and the Fiscal Agent. (a) To the
extent that the Master Servicer fails to make a P&I Advance by the Master
Servicer Remittance Date (other than a P&I Advance that the Master Servicer
determines is a Nonrecoverable Advance), the Trustee shall make such P&I Advance
to the extent the Trustee receives written notice from the Paying Agent not
later than 10:00 a.m. (New York City time) on the Distribution Date that such
Advance has not been made by the Master Servicer on the Master Servicer
Remittance Date unless the Trustee determines that such P&I Advance, if made,
would be a Nonrecoverable Advance. To the extent that the Trustee fails to make
a P&I Advance required to be made by the Trustee hereunder on the Distribution
Date (other than a P&I Advance that the Master Servicer or the Trustee
determines is a Nonrecoverable Advance), the Fiscal Agent will advance such P&I
Advance unless the Fiscal Agent determines that any such P&I Advance, if made,
would be a Nonrecoverable Advance. To the extent the Fiscal Agent is required
hereunder to make P&I Advances on the Mortgage Loans, it shall deposit the
amount thereof in the Distribution Account by 1:00 p.m. (New York time) on each
such Distribution Date. The Paying Agent shall notify the Trustee in writing as
soon as practicable, but not later than 10:00 a.m. (New York City time) on the
Distribution Date if the Master Servicer has failed to make a P&I Advance.

            (b) To the extent that the Master Servicer fails to make a Servicing
Advance by the date such Servicing Advance is required to be made (other than a
Servicing Advance that the Master Servicer determines is a Nonrecoverable
Advance), and a Responsible Officer of the Trustee receives notice thereof, the
Trustee shall make such Servicing Advance promptly, but in any event, not later
than five Business Days after notice thereof in accordance with Section 4.2,
unless the Trustee determines that such Servicing Advance, if made, would be a
Nonrecoverable Advance.

            (c) To the extent that the Trustee fails to make a Servicing Advance
required to be made by the Trustee hereunder by the later of (i) the date such
Servicing Advance is required to be made and (ii) five Business Days after the
date the Trustee has received notice pursuant to subsection (b) above, that such
Servicing Advance has not been made by the Master Servicer (other than a
Servicing Advance that the Master Servicer or the Trustee has determined to be a
Nonrecoverable Advance), the Fiscal Agent shall advance such Servicing Advance,
unless the Fiscal Agent determines that such Servicing Advance, if made, would
be a Nonrecoverable Advance.

            The initial Trustee's failure to make any Advance required to be
made by it hereunder shall not constitute a default by the initial Trustee
hereunder if the initial Fiscal Agent makes such Advance at or before the time
when the Trustee was required to make such Advance.

            (d) Pursuant to the 2002-HQ Pooling and Servicing Agreement, the
2002-HQ Master Servicer is obligated to make Advances with respect to the
Woodfield Pari Passu Loan. Notwithstanding anything herein to the contrary,
neither the Master Servicer, the Trustee nor the Fiscal Agent shall be required
to make any Advance with respect to the Woodfield Pari Passu Loan unless and
until such Person has knowledge (or would have had knowledge if it had acted in
accordance with the Servicing Standard) of any failure of the 2002-HQ Master
Servicer or the 2002-HQ Trustee to make an advance required under the 2002-HQ
Pooling and Servicing Agreement. Neither the Master Servicer, the Trustee nor
the Fiscal Agent shall have any obligation to make any such Advance unless it is
provided evidence that such Advance is not a Nonrecoverable Advance and such
other reports as may be agreed by the Master Servicer and the 2002-HQ Master
Servicer. To the extent the Master Servicer fails to make any Advance required
under this Section 4.3(d), the Trustee, pursuant to Section 4.3(b), or the
Fiscal Agent, pursuant to Section 4.3(c), as applicable, shall make such
Advance.

            Section 4.4 Evidence of Nonrecoverability. (a) If the Master
Servicer determines at any time, in its sole discretion, exercised in accordance
with the Servicing Standard, that any Advance previously made or proposed
Advance, if made, would constitute a Nonrecoverable Advance, such determination
shall be evidenced by an Officer's Certificate delivered to the Trustee, the
Paying Agent, the Special Servicer, the Operating Adviser (and, solely with
respect to the One Seaport Plaza Pari Passu Loan, the One Seaport Plaza
Operating Adviser, if any) and the Rating Agencies (and the holder of the One
Seaport Plaza Companion Loan if the advance relates to the One Seaport Plaza
Loan Pair) by the Business Day prior to the Distribution Date. Such Officer's
Certificate shall set forth the reasons for such determination of
nonrecoverability, together with, to the extent such information, report or
document is in the Master Servicer's possession, any related financial
information such as related income and expense statements, rent rolls, occupancy
status, property inspections and any Appraisals performed within the last 12
months on the Mortgaged Property, and, if such reports are used by the Master
Servicer to determine that any P&I Advance or Servicing Advance, as applicable,
would be a Nonrecoverable Advance, any engineers' reports, environmental
surveys, internal final valuations or other information relevant thereto which
support such determination. If the Trustee or the Fiscal Agent, as applicable,
determines at any time that any portion of an Advance previously made or a
portion of a proposed Advance that the Trustee or the Fiscal Agent, as
applicable, is required to make pursuant to this Agreement, if made, would
constitute a Nonrecoverable Advance, such determination shall be evidenced by an
Officer's Certificate of a Responsible Officer of the Trustee or the Fiscal
Agent, as applicable, delivered to the Depositor, the Master Servicer, the
Special Servicer, the Paying Agent and the Operating Adviser (and, solely with
respect to the One Seaport Plaza Pari Passu Loan, the One Seaport Plaza
Operating Adviser, if any) similar to the Officer's Certificate of the Master
Servicer described in the prior sentence. The Trustee and the Fiscal Agent shall
not be required to make an Advance that the Master Servicer has previously
determined to be a Nonrecoverable Advance. Notwithstanding any other provision
of this Agreement, none of the Master Servicer, the Trustee, or the Fiscal Agent
shall be obligated to, nor shall it, make any Advance or make any payment that
is designated in this Agreement to be an Advance, if it determines in its good
faith judgment and, with respect to the Master Servicer, in accordance with the
Servicing Standard, that such Advance or such payment (including interest
accrued thereon at the Advance Rate) would be a Nonrecoverable Advance. The
Master Servicer's determination in accordance with the above provisions shall be
conclusive and binding on the Trustee, the Fiscal Agent, the Paying Agent and
the Certificateholders.

            (b) The 2002-HQ Master Servicer shall be entitled to reimbursement
for Woodfield Pari Passu Loan Nonrecoverable P&I Advances and Woodfield Pari
Passu Loan Nonrecoverable Servicing Advances (with, in each case, any accrued
and unpaid interest thereon provided for under the 2002-HQ Pooling and Servicing
Agreement) in the manner set forth in Section 5.2.

            Section 4.5 Interest on Advances; Calculation of Outstanding
Advances with Respect to a Mortgage Loan. Any unreimbursed Advance funded from
the Master Servicer's, the Special Servicer's, the Trustee's or the Fiscal
Agent's own funds shall accrue interest on a daily basis, at a per annum rate
equal to the Advance Rate, from and including the date such Advance was made to
but not including the date on which such Advance has been reimbursed; provided,
however, that neither the Master Servicer nor any other party shall be entitled
to interest accrued on the amount of any P&I Advance with respect to any
Mortgage Loan or One Seaport Plaza Companion Loan in the event that such P&I
Advance is reimbursed from collections received from the related Mortgage Loan
before the expiration of such Mortgage Loan's or One Seaport Plaza Companion
Loan's grace period. Notwithstanding the foregoing, as to each P&I Advance made
on a Post Determination Date Mortgage Loan with respect to which the related
Scheduled Payment that was not received by the end of the Post Determination
Date Mortgage Loan's applicable grace period by the Master Servicer, interest on
such P&I Advance shall accrue from and including the applicable Master Servicer
Remittance Date for the benefit of the Master Servicer; provided, however, if
such Scheduled Payment is received by the Master Servicer by the end of the
applicable grace period, the Master Servicer shall not collect any interest on
such P&I Advance. For purposes of determining whether a P&I Advance is
outstanding, amounts collected with respect to a particular Mortgage Loan, One
Seaport Plaza Companion Loan or REO Property and treated as collections of
principal or interest shall be applied first to reimburse the earliest P&I
Advance and then each succeeding P&I Advance to the extent not inconsistent with
Section 4.6. The Master Servicer shall use efforts consistent with the Servicing
Standard to collect (but shall have no further obligation to collect), with
respect to the Mortgage Loans (and the One Seaport Plaza Companion Loan) that
are not Specially Serviced Mortgage Loans, Late Fees and default interest from
the Mortgagor in an amount sufficient to pay Advance Interest. The Master
Servicer shall be entitled to retain Late Fees and default interest paid by any
Mortgagor during a Collection Period with respect to any Mortgage Loan or One
Seaport Plaza Companion Loan (other than a Specially Serviced Mortgage Loan, as
to which the Special Servicer shall retain Late Fees and default interest with
respect to such Specially Serviced Mortgage Loan, subject to the offsets set
forth below) as additional servicing compensation only to the extent such Late
Fees and default interest exceed Advance Interest on a "pool basis" for all
Mortgage Loans (and the One Seaport Plaza Companion Loan) other than Specially
Serviced Mortgaged Loans. The Special Servicer, with respect to any Specially
Serviced Mortgage Loan, shall (i) pay from any Late Fees and default interest
collected from such Specially Serviced Mortgage Loan (a) any outstanding and
unpaid Advance Interest payable with respect to such Specially Serviced Mortgage
Loan to the Master Servicer, the Special Servicer, the Trustee or the Fiscal
Agent, as applicable and (b) to the Trust, any losses previously incurred by the
Trust with respect to such Specially Serviced Mortgage Loan and (ii) retain any
remaining portion of such Late Fees and default interest as additional Special
Servicer Compensation.

Any unreimbursed Balloon Advance with respect to a Post Determination Date
Mortgage Loan funded from the Principal Primary Servicer's own funds shall
accrue interest on a daily basis, at a per annum rate equal to the Advance Rate,
from and including the date such Advance was made to but not including the date
on which such Advance has been reimbursed, provided, however, that the Principal
Primary Servicer shall not be entitled to interest accrued on the amount of any
Balloon Advance with respect to any Post Determination Date Mortgage Loan in the
event that such Balloon Advance is reimbursed from collections received from the
related Mortgage Loan before the expiration of such Mortgage Loan's grace
period, and provided, further, that such Post Determination Date Mortgage Loan
is in default and the related Mortgagor has failed to make its Balloon Payment
before the expiration of such Mortgage Loan's grace period. In addition, the
Master Servicer and the Principal Primary Servicer shall be entitled to payment
of the Master Servicing Fee and the Primary Servicing Fee, as applicable, with
respect to such Post Determination Date Mortgage Loan even if a Balloon Advance
has been made with respect to such loan, and even if such Post Determination
Date Mortgage Loan is subsequently in default and the related Mortgagor has
failed to make its Balloon Payment before the expiration of such Mortgage Loan's
grace period.

            Section 4.6 Reimbursement of Advances and Advance Interest. (a)
Advances made with respect to each Mortgage Loan, One Seaport Plaza Companion
Loan or Specially Serviced Mortgage Loan or REO Property (including Advances
later determined to be Nonrecoverable Advances) and Advance Interest thereon
shall be reimbursed to the extent of the amounts identified to be applied
therefor in Section 5.2. The aggregate of the amounts available to repay
Advances and Advance Interest thereon pursuant to Section 5.2 collected in any
Collection Period with respect to Mortgage Loans, One Seaport Plaza Companion
Loan or Specially Serviced Mortgage Loans or REO Property shall be an "Available
Advance Reimbursement Amount."

            (b) To the extent that Advances have been made on the Mortgage
Loans, any One Seaport Plaza Companion Loan, any Specially Serviced Mortgage
Loans or any REO Mortgage Loans, the Available Advance Reimbursement Amount with
respect to any Determination Date shall be applied to reimburse (i) the Fiscal
Agent for any Advances outstanding to the Fiscal Agent with respect to any of
such Mortgage Loans, One Seaport Plaza Companion Loan, Specially Serviced
Mortgage Loans or REO Mortgage Loans, plus any Advance Interest owed to the
Fiscal Agent with respect to such Advances and then (ii) the Trustee for any
Advances outstanding to the Trustee with respect to any of such Mortgage Loans,
One Seaport Plaza Companion Loan, Specially Serviced Mortgage Loans or REO
Mortgage Loans, plus any Advance Interest owed to the Trustee with respect to
such Advances and then (iii) the Master Servicer and Special Servicer for any
Advances outstanding to the Master Servicer or Special Servicer, as applicable,
with respect to any of such Mortgage Loans, One Seaport Plaza Companion Loan,
Specially Serviced Mortgage Loans or REO Mortgage Loans, plus any Advance
Interest owed to the Master Servicer or Special Servicer with respect to such
Advances. To the extent that any Advance Interest payable to the Master
Servicer, the Special Servicer, the Trustee or the Fiscal Agent with respect to
a Specially Serviced Mortgage Loan or REO Mortgage Loan cannot be recovered from
the related Mortgagor, the amount of such Advance Interest shall be payable to
the Fiscal Agent, the Trustee, the Master Servicer or the Special Servicer, as
the case may be, from amounts on deposit in the Certificate Account (or
sub-account thereof) or the Distribution Account pursuant to Section 5.2(a) or
Section 5.3(b)(ii). The Master Servicer's, the Special Servicer's, the Fiscal
Agent's and the Trustee's right of reimbursement under this Agreement for
Advances shall be prior to the rights of the Certificateholders (and, in the
case of a One Seaport Plaza Companion Loan, the holder thereof) to receive any
amounts recovered with respect to such Mortgage Loans, One Seaport Plaza
Companion Loan or REO Mortgage Loans.

            (c) Advance Interest will be paid to the Fiscal Agent, the Trustee,
the Special Servicer and/or the Master Servicer (in accordance with the
priorities specified in the preceding paragraph) first, from Late Fees and
default interest collected from the Mortgage Loans during the Collection Period
during which the related Advance is reimbursed, and then from Excess Liquidation
Proceeds then available prior to payment from any other amounts. Late Fees and
default interest will be applied on a "pool basis" for non-Specially Serviced
Mortgage Loans and on a "loan-by-loan basis" (under which Late Fees and default
interest will be offset against the Advance Interest arising only from that
particular Specially Serviced Mortgage Loan) for Specially Serviced Mortgage
Loans, as the case may be, to the payment of Advance Interest on all Advances on
such non-Specially Serviced Mortgage Loans or such Specially Serviced Mortgage
Loans, as the case may be, then being reimbursed. Advance Interest payable to
the Master Servicer, the Trustee or the Fiscal Agent in respect of the One
Seaport Plaza Loan Pair shall be allocated to the One Seaport Plaza Pari Passu
Loan and the One Seaport Plaza Companion Loan on a pro rata basis based upon the
principal balance thereof.

            (d) Amounts applied to reimburse Advances shall first be applied to
reduce Advance Interest thereon that was not paid from amounts specified in the
preceding paragraph (c) and then to reduce the outstanding amount of such
Advances.

            (e) To the extent that the Special Servicer incurs out-of-pocket
expenses, in accordance with the Servicing Standard, in connection with
servicing Specially Serviced Mortgage Loans, the Master Servicer shall reimburse
the Special Servicer for such expenditures on the next succeeding Master
Servicer Remittance Date provided the Special Servicer has delivered an invoice
and a report substantiating such expenses from the Special Servicer requesting
such reimbursement on or before the related Determination Date, subject to
Section 4.4. All such amounts paid by the Special Servicer and reimbursed by the
Master Servicer shall be a Servicing Advance. In the event that the Master
Servicer fails to reimburse the Special Servicer hereunder or the Master
Servicer determines that such Servicing Advance was or, if made, would be a
Nonrecoverable Advance and the Master Servicer does not make such payment, the
Special Servicer shall notify the Master Servicer and the Paying Agent in
writing of such nonpayment and the amount payable to the Special Servicer and
shall be entitled to receive reimbursement from the Trust as an Additional Trust
Expense. The Master Servicer, the Paying Agent and the Trustee shall have no
obligation to verify the amount payable to the Special Servicer pursuant to this
Section 4.6(e) and circumstances surrounding the notice delivered by the Special
Servicer pursuant to this Section 4.6(e).

            Section 4.7 Fiscal Agent Termination Event. "Fiscal Agent
Termination Event," wherever used herein, means any one of the following events:

            (i) any failure by the Fiscal Agent to remit to the Paying Agent
      when due any required Advances; or

            (ii) a decree or order of a court or agency or supervisory authority
      having jurisdiction in the premises in an involuntary case under any
      present or future federal or state bankruptcy, insolvency or similar law
      for the appointment of a conservator, receiver, liquidator, trustee or
      similar official in any bankruptcy, insolvency, readjustment of debt,
      marshalling of assets and liabilities or similar proceedings, or for the
      winding up or liquidation of its affairs, shall have been entered against
      the Fiscal Agent and such decree or order shall have remained in force
      undischarged or unstayed for a period of at least 60 days; or

            (iii) the Fiscal Agent shall consent to the appointment of a
      conservator, receiver, liquidator, trustee or similar official in any
      bankruptcy, insolvency, readjustment of debt, marshalling of assets and
      liabilities or similar proceedings or relating to the Fiscal Agent or
      relating to all or substantially all of its property; or

            (iv) the Fiscal Agent shall admit in writing its inability to pay
      its debts generally as they become due, file a petition to take advantage
      of any applicable bankruptcy, insolvency or reorganization statute, make
      an assignment for the benefit of its creditors, voluntarily suspend
      payment of its obligation, or take any corporate action in furtherance of
      the foregoing; or

            (v) the long-term unsecured debt of the Fiscal Agent is rated below
      "AA-" by S&P or "AA-" by Fitch unless such rating is otherwise acceptable
      to the Rating Agencies as evidenced by a Rating Agency Confirmation; or

            (vi) with respect to the initial Fiscal Agent, LaSalle Bank National
      Association resigns or is removed pursuant to Section 7.6 hereof.

            Section 4.8 Procedure Upon Termination Event. (a) On the date
specified in a written notice of termination given to the Fiscal Agent pursuant
to Section 7.6(c), all authority, power and rights of the Fiscal Agent under
this Agreement, whether with respect to the Mortgage Loans or otherwise, shall
terminate and a successor Fiscal Agent, if necessary, shall be appointed by the
Trustee, with the consent of the Depositor; provided that the successor Fiscal
Agent meets the eligibility requirements set forth in Section 7.5. The Fiscal
Agent agrees to cooperate with the Trustee in effecting the termination of the
Fiscal Agent's responsibilities and rights hereunder as Fiscal Agent.

            (b) Notwithstanding the termination of its activities as Fiscal
Agent, the terminated Fiscal Agent shall continue to be entitled to
reimbursement to the extent provided in Section 4.6 but only to the extent such
reimbursement relates to the period up to and including the date on which the
Fiscal Agent's termination is effective. The Fiscal Agent shall be reimbursed
for all amounts owed to it hereunder on or prior to the effective date of its
termination from amounts on deposit in the Certificate Account.

            Section 4.9 Merger or Consolidation of Fiscal Agent. Any Person into
which the Fiscal Agent may be merged or consolidated, or any Person resulting
from any merger, conversion, other change in form or consolidation to which the
Fiscal Agent shall be a party, or any Person succeeding to the business of the
Fiscal Agent, shall be the successor of the Fiscal Agent hereunder, without the
execution or filing of any paper or any further act on the part of any of the
parties hereto, anything herein to the contrary notwithstanding; provided that
the successor or surviving entity meets the eligibility requirements set forth
in Section 7.5.

            Section 4.10 Limitation on Liability of the Fiscal Agent and
Others. Neither the Fiscal Agent nor any of the directors, officers, employees,
agents or Controlling Persons of the Fiscal Agent shall be under any liability
to the Certificateholders, the Depositor or the Trustee for any action taken or
for refraining from the taking of any action in good faith, and using reasonable
business judgment pursuant to this Agreement, or for errors in judgment;
provided that this provision shall not protect the Fiscal Agent or any such
Person against any liability which would otherwise be imposed by reason of
willful misfeasance, bad faith or negligence in its performance of duties under
this Agreement. The Fiscal Agent and any director, officer, employee or agent of
the Fiscal Agent may rely in good faith on any document of any kind prima facie
properly executed and submitted by any Person respecting any matters arising
hereunder. The Fiscal Agent shall not be under any obligation to appear in,
prosecute or defend any legal action which is not incidental to its obligations
under this Agreement. If the Fiscal Agent nonetheless appears in, prosecutes or
defends such legal action, all legal expenses and costs of such action shall be
expenses and costs of the Trust, and the Fiscal Agent shall be entitled to be
reimbursed therefor as a Nonrecoverable Servicing Advance as provided in Section
5.2(a)(ii)(A)(y). The provisions of this Section 4.10 shall survive the
resignation or removal of the Fiscal Agent and the termination of this
Agreement.

            Section 4.11 Indemnification of Fiscal Agent. The Fiscal Agent and
each of its directors, officers, employees, agents and Controlling Persons shall
be indemnified by the Trust and held harmless against any and all claims,
losses, penalties, fines, forfeitures, legal fees and related costs, judgments
and any other costs, liabilities, fees and expenses incurred in connection with
any legal action relating to this Agreement other than any loss, liability or
expense incurred by reason of the Fiscal Agent's willful misfeasance, bad faith
or negligence in the performance of its duties hereunder. The Depositor shall
indemnify and hold harmless the Fiscal Agent, its directors, officers,
employees, agents and Controlling Persons from and against any loss, claim,
damage or liability, joint or several, and any action in respect thereof, to
which the Fiscal Agent, its directors, officers, employees, agents and
Controlling Person may become subject under the 1933 Act, insofar as such loss,
claim, damage, liability or action arises out of, or is based upon any untrue
statement or alleged untrue statement of a material fact contained in the
Private Placement Memorandum, Preliminary Prospectus Supplement, Final
Prospectus Supplement or Prospectus or arises out of, or is based upon the
omission or alleged omission to state therein a material fact required to be
stated therein or necessary to make the statements therein in light of the
circumstances under which they were made, not misleading and shall reimburse the
Fiscal Agent, its directors, officers, employees, agents or Controlling Person
for any legal and other expenses reasonably incurred by the Fiscal Agent or any
such director, officer, employee, agent or Controlling Person in investigating
or defending or preparing to defend against any such loss, claim, damage,
liability or action. The Fiscal Agent shall immediately notify the Depositor,
the Sellers, the Paying Agent, the Special Servicer, the Master Servicer and the
Trustee if a claim is made by a third party with respect to this Section 4.11
entitling the Fiscal Agent, its directors, officers, employees, agents or
Controlling Person to indemnification hereunder, whereupon the Depositor shall
assume the defense of any such claim (with counsel reasonably satisfactory to
the Fiscal Agent) and pay all expenses in connection therewith, including
counsel fees, and promptly pay, discharge and satisfy any judgment or decree
which may be entered against it or them in respect of such claim. Any failure to
so notify the Depositor shall not affect any rights the Fiscal Agent, its
directors, officers, employees, agents or Controlling Person may have to
indemnification under this Section 4.11, unless the Depositor's defense of such
claim is materially prejudiced thereby. The indemnification provided herein
shall survive the termination of this Agreement and the resignation or removal
of the Fiscal Agent.

                                    ARTICLE V

                           ADMINISTRATION OF THE TRUST

            Section 5.1 Collections. (a) On or prior to the Closing Date, the
Master Servicer shall open, or cause to be opened, and shall thereafter
maintain, or cause to be maintained, a separate account or accounts, which
accounts must be Eligible Accounts, in the name of "ORIX Capital Markets, LLC,
as Master Servicer for LaSalle Bank National Association, as Trustee for the
Holders of Morgan Stanley Dean Witter Capital I Inc., Commercial Mortgage
Pass-Through Certificates, Series 2002-IQ2" (the "Certificate Account"). On or
prior to the Closing Date, the Master Servicer shall open, or cause to be
opened, and shall maintain, or cause to be maintained an additional separate
account or accounts in the name of "

            ORIX Capital Markets LLC, as Master Servicer for LaSalle Bank
National Association, as Trustee for the Holders of Morgan Stanley Dean Witter
Capital I Inc., Commercial Mortgage Pass-Through Certificates, Series 2002-IQ2"
(the "Interest Reserve Account").

            (b) On or prior to the date the Master Servicer shall first deposit
funds in a Certificate Account or the Interest Reserve Account, as the case may
be, the Master Servicer shall give to the Paying Agent and the Trustee prior
written notice of the name and address of the depository institution(s) at which
such accounts are maintained and the account number of such accounts. The Master
Servicer shall take such actions as are necessary to cause the depository
institution holding the Certificate Account and the Interest Reserve Account to
hold such account in the name of the Master Servicer as provided in Section
5.1(a), subject to the Master Servicer's (or its Primary Servicer's or its
Sub-Servicer's) right to direct payments and investments and its rights of
withdrawal under this Agreement.

            (c) The Master Servicer shall deposit, or cause to be deposited,
into the Certificate Account on the Business Day following receipt (or, in the
case of an inadvertent failure to make such deposit on the Business Day
following receipt, within 3 Business Days of discovery of such failure and in
the case of unscheduled remittances of principal or interest, on the Business
Day following identification of the proper application of such amounts), the
following amounts received by it (including amounts remitted to the Master
Servicer by the Special Servicer from an REO Account pursuant to Section 9.14),
other than in respect of interest and principal on the Mortgage Loans or One
Seaport Plaza Companion Loan due on or before the Cut-Off Date which shall be
remitted to the applicable Seller (provided that the Master Servicer (I) may
retain amounts otherwise payable to the Master Servicer as provided in Section
5.2(a) rather than deposit them into the Certificate Account, (II) shall, rather
than deposit them in the Certificate Account, directly remit to the Primary
Servicers the applicable Primary Servicing Fees payable as provided in Section
5.2(a)(iv) (unless already retained by the applicable Primary Servicer), and
(III) shall, rather than deposit them in the Certificate Account, directly remit
the Excess Servicing Fees to the holders thereof as provided in Section
5.2(a)(iv)) (unless already retained by the applicable holder of the excess
servicing rights)):

                  (A) Principal: all payments on account of principal, including
            Principal Prepayments, the principal component of Scheduled
            Payments, and any Late Collections in respect thereof, on the
            Mortgage Loans and One Seaport Plaza Companion Loan;

                  (B) Interest: all payments on account of interest on the
            Mortgage Loans and One Seaport Plaza Companion Loan (excluding
            Interest Reserve Amounts to be deposited in the Interest Reserve
            Account pursuant to Section 5.1(d) below);

                  (C) Liquidation Proceeds: all Liquidation Proceeds with
            respect to the Mortgage Loans and One Seaport Plaza Companion Loan;

                  (D) Insurance Proceeds: all Insurance Proceeds other than
            proceeds to be applied to the restoration or repair of the property
            subject to the related Mortgage or released to the related Mortgagor
            in accordance with the Servicing Standard, which proceeds shall be
            deposited by the Master Servicer into an Escrow Account and not
            deposited in the Certificate Account;

                  (E) Condemnation Proceeds: all Condemnation Proceeds other
            than proceeds to be applied to the restoration or repair of the
            property subject to the related Mortgage or released to the related
            Mortgagor in accordance with the Servicing Standard, which proceeds
            shall be deposited by the Master Servicer into an Escrow Account and
            not deposited in the Certificate Account;

                  (F) REO Income: all REO Income received from the Special
            Servicer;

                  (G) Investment Losses: any amounts required to be deposited by
            the Master Servicer pursuant to Section 5.1(e) in connection with
            losses realized on Eligible Investments with respect to funds held
            in the Certificate Account and amounts required to be deposited by
            the Special Servicer pursuant to Section 9.14(b) in connection with
            losses realized on Eligible Investments with respect to funds held
            in the REO Account;

                  (H) Advances: all P&I Advances unless made directly to the
            Distribution Account; and

                  (I) Other: all other amounts, including Prepayment Premiums,
            required to deposited in the Certificate Account pursuant to this
            Agreement, including Purchase Proceeds of any Mortgage Loans
            repurchased by a Seller or substitution shortfall amounts (as
            described in the fifth paragraph of Section 2.3(a)) paid by a Seller
            in connection with the substitution of any Qualifying Substitute
            Mortgage Loans and amounts with respect to any One Seaport Plaza
            Companion Loan.

            With respect to the One Seaport Plaza Loan Pair, the Master Servicer
shall establish and maintain one or more sub-accounts of the Certificate Account
(each a "One Seaport Plaza Companion Loan Custodial Account") into which the
Master Servicer shall deposit any amounts described above that are required to
be paid to the holder of the One Seaport Plaza Companion Loan pursuant to the
terms of the One Seaport Plaza Intercreditor Agreement, in each case on the same
day as the deposit thereof into the Certificate Account. Each One Seaport Plaza
Companion Loan Custodial Account shall be held in trust for the benefit of the
holder of the related One Seaport Plaza Companion Loan and shall not be part of
any REMIC Pool.

            Remittances from any REO Account to the Master Servicer for deposit
in the Certificate Account shall be made by the Special Servicer no later than
the Special Servicer Remittance Date.

            (d) The Master Servicer, with respect to each Distribution Date
occurring in January (other than in any leap year) and February of each year,
shall deposit in the Interest Reserve Account in respect of each Interest
Reserve Loan, an amount equal to one day's interest at the related REMIC I Net
Mortgage Rate (without regard to the proviso in the definition of Adjusted
Mortgage Rate) on the Scheduled Principal Balance of such Mortgage Loan as of
the Due Date in the month in which such Distribution Date occurs, to the extent
a Scheduled Payment or P&I Advance is timely made in respect thereof for such
Due Date (all amounts so deposited in any consecutive January and February in
respect of each Interest Reserve Loan, the "Interest Reserve Amount").

            (e) Funds in the Certificate Account (including any One Seaport
Plaza Companion Loan Custodial Accounts) and Interest Reserve Account may be
invested and, if invested, shall be invested by, and at the risk of, the Master
Servicer in Eligible Investments selected by the Master Servicer which shall
mature, unless payable on demand, not later than the Business Day immediately
preceding the next Master Servicer Remittance Date, and any such Eligible
Investment shall not be sold or disposed of prior to its maturity unless payable
on demand. All such Eligible Investments shall be made in the name of "LaSalle
Bank National Association, as Trustee for the Holders of the Morgan Stanley Dean
Witter Capital I Inc., Commercial Mortgage Pass-Through Certificates, Series
2002-IQ2 and [the holder of any related One Seaport Plaza Companion Loan as
their interests may appear]". None of the Depositor, the Mortgagors, the Paying
Agent or the Trustee shall be liable for any loss incurred on such Eligible
Investments.

            An amount equal to all income and gain realized from any such
investment shall be paid to the Master Servicer as additional servicing
compensation and shall be subject to its withdrawal at any time from time to
time. The amount of any losses incurred in respect of any such investments shall
be for the account of the Master Servicer which shall deposit the amount of such
loss (to the extent not offset by income from other investments) in the
Certificate Account (and, solely to the extent that the loss is of an amount
credited to a One Seaport Plaza Companion Loan Custodial Account, in the related
One Seaport Plaza Companion Loan Custodial Account) or Interest Reserve Account,
as the case may be, out of its own funds immediately as realized. If the Master
Servicer deposits in or transfers to any Certificate Account, any One Seaport
Plaza Companion Loan Custodial Account or Interest Reserve Account, as the case
may be, any amount not required to be deposited therein or transferred thereto,
it may at any time withdraw such amount or retransfer such amount from the
Certificate Account, such One Seaport Plaza Companion Loan Custodial Account or
Interest Reserve Account, as the case may be, any provision herein to the
contrary notwithstanding.

            (f) Except as expressly provided otherwise in this Agreement, if any
default occurs in the making of a payment due under any Eligible Investment, or
if a default occurs in any other performance required under any Eligible
Investment, the Paying Agent on behalf of and at the direction of the Trustee
may take such action as may be appropriate to enforce such payment or
performance, including the institution and prosecution of appropriate
proceedings; provided, however, that if the Master Servicer shall have deposited
in the Certificate Account, One Seaport Plaza Companion Loan Custodial Account
and Interest Reserve Account an amount equal to all amounts due under any such
Eligible Investment (net of anticipated income or earnings thereon that would
have been payable to the Master Servicer as additional servicing compensation)
the Master Servicer shall have the sole right to enforce such payment or
performance.

            (g) Certain of the Mortgage Loans may provide for payment by the
Mortgagor to the Master Servicer of amounts to be used for payment of Escrow
Amounts for the account of the Mortgagor. The Master Servicer shall deal with
these amounts in accordance with the Servicing Standard, the terms of the
related Mortgage Loans and Section 8.3(e) hereof, and the Primary Servicer will
be entitled to hold any Escrow Accounts relating to the Mortgage Loans that they
service in accordance with the requirements set forth in Section 8.3(e). Within
20 days following the first anniversary of the Closing Date, the Master Servicer
shall deliver to the Trustee, the Paying Agent and the Operating Adviser (and,
solely with respect to the One Seaport Plaza Pari Passu Loan, the One Seaport
Plaza Operating Adviser, if any), for each Mortgage Loan set forth on Schedule
VII hereto, a brief statement as to the status of the work or project based on
the most recent information provided by the related Mortgagor. Schedule VII sets
forth those Mortgage Loans as to which an upfront reserve was collected at the
closing of such Mortgage Loan (and still exists) in an amount in excess of
$75,000 with respect to specific immediate engineering work, completion of
additional construction, environmental remediation or similar one-time projects
(but not with respect to escrow accounts maintained for ongoing obligations,
such as real estate taxes, insurance premiums, ongoing property maintenance,
replacements and capital improvements or debt service). If the work or project
is not completed in accordance with the requirements of the escrow, the Master
Servicer and the Special Servicer (which shall itself consult with the Operating
Adviser (and, solely with respect to the One Seaport Plaza Pari Passu Loan, the
One Seaport Plaza Operating Adviser, if any)) will consult with each other as to
whether there exists a material default under the underlying Mortgage Loan
documents.

            (h) In the case of the Mortgage Loans as to which the Scheduled
Payment is due in a calendar month on a Due Date (including any grace period)
that may occur after the end of the Collection Period ending in such calendar
month, subject to Section 4.4 the Master Servicer shall, unless the Scheduled
Payment is received before the Master Servicer Remittance Date, make a P&I
Advance by deposit to the Certificate Account on the Master Servicer Remittance
Date in an amount equal to the "Scheduled Payment," and for purposes of the
definition of "Available Distribution Amount" and "Principal Distribution
Amount," such Scheduled Payment shall be deemed to have been received in such
Collection Period. With respect to the Woodfield Pari Passu Loan, any amounts
received by the Master Servicer pursuant to the 2002-HQ Pooling and Servicing
Agreement and Woodfield Letter Agreement with respect to a Distribution Date
shall be deemed to have been received by the Master Servicer in the related
Collection Period for purposes of the definitions of "Available Distribution
Amount" and "Principal Distribution Amount."

            Section 5.2 Application of Funds in the Certificate Account and
Interest Reserve Account. (a) The Master Servicer shall, from time to time, make
withdrawals from the Certificate Account and remit them by wire transfer prior
to 2:00 p.m., New York City time, on the related Master Servicer Remittance Date
in immediately available funds to the account specified in this Section or
otherwise (w) to such account as it shall determine from time to time of amounts
payable to the Master Servicer from the Certificate Account (and, insofar as
they relate to a One Seaport Plaza Companion Loan, from the One Seaport Plaza
Companion Loan Custodial Account) pursuant to clauses (i), (ii), (iii), (iv),
(vi), (viii) and (ix) below; (x) to the account specified in writing by the
Paying Agent from time to time of amounts payable to the Paying Agent, the
Trustee and the Fiscal Agent from the Certificate Account (and, insofar as they
relate to a One Seaport Plaza Companion Loan, from the related One Seaport Plaza
Companion Loan Custodial Account) pursuant to clauses (ii), (iii), (v), (vi),
(xi), (xii) and (xiii) below; and (y) to the Special Servicer from time to time
of amounts payable to the Special Servicer from such Certificate Account (and,
insofar as they relate to a One Seaport Plaza Companion Loan, from the related
One Seaport Plaza Companion Loan Custodial Account) pursuant to clauses (i),
(iv), (vi), (vii) and (ix) below of the following amounts, from the amounts
specified for the following purposes:

            (i) Fees: the Master Servicer shall pay (A) to itself Late Fees (in
      excess of amounts used to pay Advance Interest) relating to Mortgage Loans
      or One Seaport Plaza Companion Loans which are not Specially Serviced
      Mortgage Loans, 100% of any Modification Fees relating to Mortgage Loans
      which are not Specially Serviced Mortgage Loans as provided in Section
      8.18(b), 50% of any assumption fees relating to Mortgage Loans which are
      not Specially Serviced Mortgage Loans payable under Section 8.7(a) or
      8.7(d), 100% of any extension fees payable under Section 8.10 or other
      fees payable to the Master Servicer hereunder and (B) directly to the
      Special Servicer, 50% of any assumption fees on Mortgage Loans which are
      not Specially Serviced Mortgage Loans as provided in Section 8.7(a) and
      8.7(d), and, to the extent deposited into the Certificate Account, all
      assumption fees relating to Specially Serviced Mortgage Loans and Late
      Fees and default interest (in excess of Advance Interest arising only from
      that particular Specially Serviced Mortgage Loan for which the Late Fees
      or default interest were collected), Modification Fees and other fees
      collected on Specially Serviced Mortgage Loans, in each case to the extent
      provided for herein from funds paid by the applicable Mortgagor;

            (ii) Servicing Advances (including amounts later determined to be
      Nonrecoverable Advances): (A) in the case of all Mortgage Loans, subject
      to clause (B) below, to reimburse or pay to the Master Servicer, the
      Special Servicer, the Trustee and the Fiscal Agent, pursuant to Section
      4.6, (x) prior to a Final Recovery Determination or determination in
      accordance with Section 4.4 that any Advance is a Nonrecoverable Advance,
      Servicing Advances on the related Mortgage Loan and any One Seaport Plaza
      Companion Loan from payments made by the related Mortgagor of the amounts
      to which a Servicing Advance relates or from REO Income from the related
      REO Property or from Liquidation Proceeds, Condemnation Proceeds,
      Insurance Proceeds or Purchase Proceeds and, to the extent that a
      Servicing Advance has been or is being reimbursed, any related Advance
      Interest thereon first, from Late Fees and default interest collected
      during the Collection Period during which such Advance is reimbursed, and
      then from Excess Liquidation Proceeds then available and then from any
      other amounts on deposit in the Certificate Account; provided that Late
      Fees and default interest will be applied on a "pool basis" for
      non-Specially Serviced Mortgage Loans (and any One Seaport Plaza Companion
      Loan) and on a "loan-by-loan basis" (under which Late Fees and default
      interest will be offset against the Advance Interest arising only from the
      particular Specially Serviced Mortgage Loan) for Specially Serviced
      Mortgage Loans, as the case may be, to the payment of Advance Interest on
      all Advances on such non-Specially Serviced Mortgage Loans (and any One
      Seaport Plaza Companion Loan) or such Specially Serviced Mortgage Loans,
      as the case may be, then being reimbursed or (y) after a Final Recovery
      Determination or determination that any Servicing Advance on the related
      Mortgage Loan or any One Seaport Plaza Companion Loan is a Nonrecoverable
      Advance, any Servicing Advances made on the related Mortgage Loan, One
      Seaport Plaza Companion Loan or REO Property from any funds on deposit in
      the Certificate Account (regardless of whether such amount was recovered
      from the applicable Mortgage Loan or REO Property) and pay Advance
      Interest thereon first, from Late Fees and default interest collected
      during the Collection Period during which such Advance is reimbursed
      (applying such Late Fees and default interest on a "pool basis" for all
      non-Specially Serviced Mortgage Loans (and any One Seaport Plaza Companion
      Loan) and on a "loan-by-loan basis", as described above, for all Specially
      Serviced Mortgage Loans, as the case may be, to the payment of Advance
      Interest on all Advances on such non-Specially Serviced Mortgage Loans
      (and any One Seaport Plaza Companion Loan) or such Specially Serviced
      Mortgage Loans, as the case may be, then being reimbursed), then from
      Excess Liquidation Proceeds then available and then from any other amounts
      on deposit in the Certificate Account and (B) in the case of the Woodfield
      Pari Passu Loan and from any funds on deposit in the Certificate Account,
      to reimburse the 2002-HQ Master Servicer and the 2002-HQ Trustee for
      Woodfield Pari Passu Loan Nonrecoverable Servicing Advances and any
      accrued and unpaid interest thereon provided for under the 2002-HQ Pooling
      and Servicing Agreement;

            (iii) P&I Advances (including amounts later to be determined to be
      Nonrecoverable Advances): (A) in the case of all Mortgage Loans, subject
      to clause (B) below, to reimburse or pay to the Master Servicer, the
      Principal Primary Servicer, the Trustee and the Fiscal Agent, pursuant to
      Section 4.6, (x) if prior to a Final Recovery Determination or
      determination that any Advance is a Nonrecoverable Advance, any P&I
      Advances from Late Collections made by the Mortgagor of the amounts to
      which a P&I Advance relates, or REO Income from the related REO Property
      or from Liquidation Proceeds, Condemnation Proceeds, Insurance Proceeds or
      Purchase Proceeds and, to the extent that a P&I Advance has been or is
      being reimbursed, any related Advance Interest thereon, first, from Late
      Fees and default interest collected during the Collection Period during
      which such Advance is reimbursed, and then from Excess Liquidation
      Proceeds then available and then from any other amounts on deposit in the
      Certificate Account; provided that Late Fees and default interest will be
      applied on a "pool basis" for non-Specially Serviced Mortgage Loans (and
      the One Seaport Plaza Companion Loan) and on a "loan-by-loan basis" (under
      which Late Fees and default interest will be offset against the Advance
      Interest arising only from the particular Specially Serviced Mortgage
      Loan) for Specially Serviced Mortgage Loans or (y) if after a Final
      Recovery Determination or determination in accordance with Section 4.4
      that any P&I Advance on the related Mortgage Loan or One Seaport Plaza
      Companion Loan is a Nonrecoverable Advance, for any Mortgage Loan or One
      Seaport Plaza Companion Loan, any P&I Advances made on the related
      Mortgage Loan, One Seaport Plaza Companion Loan or REO Property from any
      funds on deposit in the Certificate Account (regardless of whether such
      amount was recovered from the applicable Mortgage Loan or REO Property)
      and any Advance Interest thereon, first, from Late Fees and default
      interest collected during the Collection Period during which such Advance
      is reimbursed (applying such Late Fees and default interest on a "pool
      basis" for all non-Specially Serviced Mortgage Loans (and the One Seaport
      Plaza Companion Loan) and on a "loan-by-loan basis", as described above,
      for all Specially Serviced Mortgage Loans, as the case may be, to the
      payment of Advance Interest on all Advances on such non-Specially Serviced
      Mortgage Loans or such Specially Serviced Mortgage Loans, as the case may
      be, then being reimbursed), then from Excess Liquidation Proceeds then
      available and then from any other amounts on deposit in the Certificate
      Account; provided that the principal portion of any Balloon Advances shall
      only be recoverable from amounts in the Certificate Account in respect of
      principal collections from the Mortgage Loans and (B) in the case of the
      Woodfield Pari Passu Loan and from any funds on deposit in the Certificate
      Account, to reimburse the 2002-HQ Master Servicer and the 2002-HQ Trustee
      for Woodfield Pari Passu Loan Nonrecoverable P&I Advances and any accrued
      and unpaid interest thereon provided for under the 2002-HQ Pooling and
      Servicing Agreement;

            (iv) Servicing Fees and Special Servicer Compensation: to pay to
      itself the Master Servicing Fee, subject to reduction for any Compensating
      Interest, to pay to the Special Servicer the Special Servicing Fee, the
      Special Servicing Stand-by Fee and the Work-Out Fee and to pay to the
      Primary Servicers (or the Master Servicer) the Primary Servicing Fees and
      to pay to the parties entitled thereto the Excess Servicing Fees (to the
      extent not previously retained by any of such parties);

            (v) Trustee Fee and Paying Agent Fee: to pay to the Distribution
      Account for withdrawal by the Paying Agent, the Paying Agent Fee and the
      Trustee Fee;

            (vi) Expenses of Trust: to pay to the Person entitled thereto any
      amounts specified herein to be Additional Trust Expenses (at the time set
      forth herein or in the definition thereof), the payment of which is not
      more specifically provided for in this Agreement; provided that the
      Depositor shall not be entitled to receive reimbursement for performing
      its duties under this Agreement;

            (vii) Liquidation Fees: to pay to the Special Servicer from the
      Certificate Account, the amount certified by the Special Servicer equal to
      the Liquidation Fee, to the extent provided in Section 9.11 hereof;

            (viii) Investment Income: to pay to itself income and gain realized
      on the investment of funds deposited in such Certificate Account
      (including any One Seaport Plaza Companion Loan Custodial Accounts);

            (ix) Prepayment Interest Excesses: to pay to the Master Servicer the
      amount of the aggregate Prepayment Interest Excesses relating to Mortgage
      Loans which are not Specially Serviced Mortgage Loans (to the extent not
      offset by Prepayment Interest Shortfalls relating to such Mortgage Loans);
      and to pay to the Special Servicer the amount of the aggregate Prepayment
      Interest Excesses relating to Specially Serviced Mortgage Loans which have
      received voluntary Principal Prepayments (not from Liquidation Proceeds or
      from modifications to Specially Serviced Mortgage Loans), to the extent
      not offset by Prepayment Interest Shortfalls relating to such Mortgage
      Loans.

            (x) Correction of Errors: to withdraw funds deposited in the
      Certificate Account in error;

            (xi) Distribution Account: to make payment on each Master Servicer
      Remittance Date of the remaining amounts in the Certificate Account to the
      Distribution Account other than amounts held for payment in future periods
      or pursuant to clause (xii) below;

            (xii) Reserve Account: to make payment on each Master Servicer
      Remittance Date to the Reserve Account, any Excess Liquidation Proceeds
      (subject to Section 4.6(c)); and

            (xiii) Clear and Terminate: to clear and terminate the Certificate
      Account pursuant to Section 8.29,

and provided, however, that in the case of any One Seaport Plaza Companion Loan:

                  (A) the Master Servicer shall be entitled to make transfers
            from time to time, from the related One Seaport Plaza Companion Loan
            Custodial Account to the portion of the Certificate Account that
            does not constitute any One Seaport Plaza Companion Loan Custodial
            Account, of amounts necessary for the payments or reimbursement of
            amounts described in any one or more of clauses (i), (ii), (iii),
            (iv), (v), (vi), (vii), (viii), (ix) and (xii) above, but only
            insofar as the payment or reimbursement described therein arises
            from or is related solely to the One Seaport Plaza Loan Pair and is
            allocable to the One Seaport Plaza Companion Loan, and the Master
            Servicer shall also be entitled to make transfers from time to time,
            from the related One Seaport Plaza Companion Loan Custodial Account
            to the portion of the Certificate Account that does not constitute
            any One Seaport Plaza Companion Loan Custodial Account, of amounts
            transferred to such related One Seaport Plaza Companion Loan
            Custodial Account in error, and amounts necessary for the clearing
            and termination of the Certificate Account pursuant to Section 8.29;

                  (B) the Master Servicer shall be entitled to make transfers
            from time to time, from the related One Seaport Plaza Companion Loan
            Custodial Account to the portion of the Certificate Account that
            does not constitute any One Seaport Plaza Companion Loan Custodial
            Account, of amounts not otherwise described in clause (A) above to
            which the holder of the One Seaport Plaza Pari Passu Loan is
            entitled under the One Seaport Plaza Intercreditor Agreement
            (including in respect of interest, principal and Prepayment
            Premiums); and

                  (C) the Master Servicer shall on each Master Service
            Remittance Date remit to the holder of the related One Seaport Plaza
            Companion Loan all amounts on deposit in such One Seaport Plaza
            Companion Loan Custodial Account (net of amounts permitted or
            required to be transferred therefrom as described in clauses (A)
            and/or (B) above), to the extent that the holder of such One Seaport
            Plaza Companion Loan is entitled thereto under the One Seaport Plaza
            Intercreditor Agreement.

            Expenses incurred with respect to the One Seaport Plaza Loan Pair
shall be allocated in accordance with the One Seaport Plaza Intercreditor
Agreement. The Master Servicer shall keep and maintain a separate accounting for
each Mortgage Loan and One Seaport Plaza Companion Loan for the purpose of
justifying any withdrawal or transfer from the Certificate Account and each One
Seaport Plaza Companion Loan Custodial Account. If the Master Servicer is
entitled to make any payment or reimbursement described above and such payment
or reimbursement relates to a One Seaport Plaza Companion Loan but is not
limited to a specific source of funds (other than the requirement that it must
be made by withdrawal from the One Seaport Plaza Companion Loan Custodial
Account insofar as it relates to a One Seaport Plaza Companion Loan), the Master
Servicer shall, if funds on deposit in such One Seaport Plaza Companion Loan
Custodial Account are insufficient therefor, request the holder of the One
Seaport Plaza Companion Loan to make such payment or reimbursement. If the
holder of the One Seaport Plaza Companion Loan fails to make such payment or
reimbursement within three (3) Business Days following such request, the Master
Servicer shall be entitled to make such payment or reimbursement from the
Certificate Account unless such payment or reimbursement represents a P&I
Advance that was previously made and constitutes a Nonrecoverable Advance or
accrued and unpaid Advance Interest on such P&I Advance. If such payment or
reimbursement is subsequently recovered from the holder of the One Seaport Plaza
Companion Loan, the amount recovered shall be deposited into the Certificate
Account and shall not be deposited into the One Seaport Plaza Companion Loan
Custodial Account. If the Master Servicer is entitled to make any payment or
reimbursement described above and such payment or reimbursement represents a P&I
Advance that was previously made and constitutes a Nonrecoverable Advance or
accrued and unpaid Advance Interest on such P&I Advance, the Master Servicer
shall not be entitled to make such payment or reimbursement by withdrawal from
the Certificate Account and the Trust shall thereupon be deemed, without any
further action or notice, to have transferred to the Master Servicer and the
Master Servicer shall thereupon be deemed to own (and to be entitled to enforce
for the Master Servicer's own account) the obligation of the holder of the One
Seaport Plaza Companion Loan to make such reimbursement or payment under the One
Seaport Plaza Intercreditor Agreement.

            (b) Scheduled Payments due in a Collection Period succeeding the
Collection Period relating to such Master Servicer Remittance Date, Principal
Prepayments received after the related Collection Period, or other amounts not
distributable on the related Distribution Date, shall be held in the Certificate
Account (or sub-account thereof) and shall be distributed on the Master Servicer
Remittance Date or Dates to which such succeeding Collection Period or Periods
relate; provided, however, that as to the Mortgage Loans for which the Scheduled
Payment due each month is due on a Due Date (including any grace period) that
may occur after the end of the Collection Period in such month, sums received by
the Master Servicer with respect to such Scheduled Payment but after the end of
such Collection Period shall be applied by the Master Servicer to reimburse any
related P&I Advance made pursuant to Section 5.1(h), and the Master Servicer
shall remit to the Distribution Account on any Master Servicer Remittance Date
for a Collection Period any Principal Prepayments and Balloon Payments received
after the end of such Collection Period but no later than the Business Day
immediately preceding such Master Servicer Remittance Date on such Mortgage
Loans. For purposes of the definition of "Available Distribution Amount" and
"Principal Distribution Amount," the Scheduled Payments and Principal
Prepayments referred to in the preceding proviso shall be deemed to have been
collected in the prior Collection Period.

            (c) On each Master Servicer Remittance Date in March of every year
commencing in March 2003, the Master Servicer shall withdraw all amounts then in
the Interest Reserve Account and deposit such amounts into the Distribution
Account.

            Section 5.3 Distribution Account and Reserve Account. (a) The Paying
Agent, on behalf of the Trustee shall establish (with respect to clause (i), on
or prior to the Closing Date, and with respect to clause (ii), on or prior to
the date the Paying Agent determines is necessary) and maintain in its name, on
behalf of the Trustee, (i) an account (the "Distribution Account"), to be held
in trust for the benefit of the Holders until disbursed pursuant to the terms of
this Agreement, titled: "LaSalle Bank National Association, as Paying Agent on
behalf of LaSalle Bank National Association, as Trustee, in trust for the
benefit of the Holders of Morgan Stanley Dean Witter Capital I Inc., Commercial
Mortgage Pass-Through Certificates, Series 2002-IQ2, Distribution Account" and
(ii) an account (the "Reserve Account") to be held in trust for the benefit of
the holders of interests in the Trust until disbursed pursuant to the terms of
this Agreement, titled: "LaSalle Bank National Association, as Paying Agent on
behalf of LaSalle Bank National Association, as Trustee, in trust for the
benefit of the Holders of Morgan Stanley Dean Witter Capital I Inc., Commercial
Mortgage Pass-Through Certificates, Series 2002-IQ2, Reserve Account." The
Distribution Account and the Reserve Account shall be Eligible Accounts. Funds
in the Distribution Account and in the Reserve Account shall not be invested.
The Distribution Account and Reserve Account shall be held separate and apart
from and shall not be commingled with any other monies including, without
limitation, other monies of the Paying Agent held under this Agreement.

            (b) The Paying Agent shall deposit, on the Business Day received all
moneys remitted by the Master Servicer pursuant to this Agreement, including P&I
Advances made by the Master Servicer, the Trustee and the Fiscal Agent into the
Distribution Account and all Excess Liquidation Proceeds into the Reserve
Account. Subject to Section 5.1(h), on any Master Servicer Remittance Date, the
Master Servicer shall have no duty to remit to the Distribution Account any
amounts other than amounts held in the Certificate Account and collected during
the related Collection Period as provided in clauses (v) and (xi) of Section
5.2(a) and the P&I Advance Amount (other than the P&I Advance Amount for the One
Seaport Plaza Companion Loan), and, on the Master Servicer Remittance Date
occurring in March of any year, commencing in March 2003, amounts held in the
Interest Reserve Account. The Paying Agent shall make withdrawals from the
Distribution Account and the Reserve Account only for the following purposes:

            (i) to withdraw amounts deposited in the Distribution Account in
      error and pay such amounts to the Persons entitled thereto;

            (ii) to pay any amounts payable to the Master Servicer, the Primary
      Servicers, the Special Servicer, the Fiscal Agent and the Trustee
      (including the Trustee's Fee (other than that portion thereof, that
      constitutes the Paying Agent's Fee)) and the Paying Agent (including the
      Paying Agent Fee), or other expenses or other amounts permitted to be paid
      hereunder and not previously paid to such Persons pursuant to Section 5.2;

            (iii) to make distributions to the Certificateholders pursuant to
      Section 6.5; and

            (iv) to clear and terminate the Distribution Account pursuant to
      Section 10.2.

            Section 5.4 Paying Agent Reports. (a) On or prior to each
Distribution Date, based on information provided in monthly reports prepared by
the Master Servicer and the Special Servicer and delivered to the Paying Agent
by the Master Servicer (no later than 2:00 p.m., New York time on the Report
Date), the Paying Agent shall make available, on a restricted basis, to any
interested party via its internet website initially located at
"www.etrustee.net" (the "Paying Agent's Website"), (i) the Monthly
Certificateholder's Report (substantially in the form of Exhibit M), (ii) a
report containing information regarding the Mortgage Loans as of the end of the
related Collection Period, which report shall contain substantially the
categories of information regarding the Mortgage Loans set forth in Appendix I
to the Final Prospectus Supplement and shall be presented in tabular format
substantially similar to the format utilized in such Appendix I which report may
be included as part of the Monthly Certificateholders Report, (iii) the Loan
Periodic Update File, Loan Setup File, Bond Level File and the Collateral
Summary File, (iv) the supplemental reports set forth in paragraph (b) of the
definition of Unrestricted Servicer Reports and (v) as a convenience for
interested parties (and not in furtherance of the distribution thereof under the
securities laws), the Final Prospectus Supplement and this Agreement.

            In addition, on or prior to each Distribution Date, based on
information provided in monthly reports prepared by the Master Servicer and the
Special Servicer and delivered to the Paying Agent in accordance herewith, the
Paying Agent shall make available via the Paying Agent's Website, on a
restricted basis, the Restricted Servicer Reports (including the Property File
on or prior to each Distribution Date, commencing in September 2002). The Paying
Agent shall provide access to the Restricted Servicer Reports, upon request, to
each Certificateholder, each of the parties to this Agreement, each of the
Rating Agencies, each of the Underwriters, the Operating Adviser (and, solely
with respect to the One Seaport Plaza Pari Passu Loan, the One Seaport Plaza
Operating Adviser, if any), the Placement Agent and any Certificate Owner upon
receipt (which may be in electronic form) from such person of an Investor
Certificate in the form of Exhibit Y, and any other person upon the direction of
the Depositor, the Placement Agent or any Underwriter. For assistance with the
above-mentioned Paying Agent services, Certificateholders or any party hereto
may initially call 714-238-6700.

            The Paying Agent makes no representations or warranties as to the
accuracy or completeness of any report, document or other information made
available on the Paying Agent's Website and assumes no responsibility therefor.
The Paying Agent shall be entitled to conclusively rely on any information
provided to it by the Master Servicer or the Special Servicer and shall have no
obligation to verify such information and the Paying Agent may disclaim
responsibility for any information distributed by the Paying Agent for which it
is not the original source. In connection with providing access to the Paying
Agent's Website, the Paying Agent, may require registration and the acceptance
of a disclaimer. None of the Master Servicer, the Special Servicer, any Primary
Servicer or the Paying Agent shall be liable for the dissemination of
information in accordance with this Agreement; provided that this sentence shall
not in any way limit the liability the Paying Agent may otherwise have in the
performance of its duties hereunder.

            (b) Subject to Section 8.15, upon advance written request, if
required by federal regulation, of any Certificateholder (or holder of a One
Seaport Plaza Companion Loan) that is a savings association, bank, or insurance
company, the Paying Agent shall provide (to the extent in its possession) to
each such Certificateholder (or such holder of a One Seaport Plaza Companion
Loan) such reports and access to non-privileged information and documentation
regarding the Mortgage Loans and the Certificates as such Certificateholder (or
such holder of a One Seaport Plaza Companion Loan) may reasonably deem necessary
to comply with applicable regulations of the Office of Thrift Supervision or
successor or other regulatory authorities with respect to investment in the
Certificates; provided that the Paying Agent shall be entitled to be reimbursed
by such Certificateholder (or such holder of a One Seaport Plaza Companion Loan)
for the Paying Agent's actual expenses incurred in providing such reports and
access. The holder of a One Seaport Plaza Companion Loan shall be entitled to
receive information and documentation only with respect to the One Seaport Plaza
Loan Pair, pursuant hereto.

            (c) Upon written request, the Paying Agent shall send to each Person
who at any time during the calendar year was a Certificateholder of record,
customary information as the Paying Agent deems may be necessary or desirable
for such Holders to prepare their federal income tax returns.

            (d) Reserved.

            (e) The Paying Agent shall afford the Rating Agencies, the
Depositor, the Master Servicer, the Special Servicer, the Primary Servicers, the
Trustee, the Fiscal Agent, the Operating Adviser (and, solely with respect to
the One Seaport Plaza Pari Passu Loan, the One Seaport Plaza Operating Adviser,
if any), any Certificateholder, prospective Certificate Owner or any Person
reasonably designated by the Placement Agent, or any Underwriter upon reasonable
notice and during normal business hours, reasonable access to all relevant,
non-attorney privileged records and documentation regarding the applicable
Mortgage Loans, REO Property and all other relevant matters relating to this
Agreement, and access to Responsible Officers of the Paying Agent.

            (f) Copies (or computer diskettes or other digital or electronic
formats of such information if reasonably available in lieu of paper copies) of
any and all of the foregoing items of this Section 5.4 shall be made available
by the Paying Agent upon request; provided, however, that the Paying Agent shall
be permitted to require payment by the requesting party (other than the
Depositor, the Master Servicer, the Special Servicer, the Trustee, the Fiscal
Agent, the Operating Adviser (and, solely with respect to the One Seaport Plaza
Pari Passu Loan, the One Seaport Plaza Operating Adviser, if any), the Placement
Agent or any Underwriter or any Rating Agency) of a sum sufficient to cover the
reasonable expenses actually incurred by the Paying Agent of providing access or
copies (including electronic or digital copies) of any such information
requested in accordance with the preceding sentence.

            (g) The Paying Agent shall make available at its Corporate Trust
Office (either in physical or electronic form), during normal business hours,
upon reasonable advance written notice for review by any Certificateholder, any
Certificate Owner, any prospective Certificate Owner, the Underwriters, each
Rating Agency, the Special Servicer and the Depositor and, solely with respect
to the One Seaport Plaza Loan Pair, the holder of the One Seaport Plaza
Companion Loan, originals or copies of, among other things, the following items:
(i) the most recent property inspection reports in the possession of the Trustee
in respect of each Mortgaged Property and REO Property, (ii) the most recent
Mortgaged Property/REO Property annual operating statement and rent roll, if
any, collected or otherwise obtained by or on behalf of the Master Servicer or
the Special Servicer and delivered to the Paying Agent, (iii) any Phase I
Environmental Report or engineering report prepared or appraisals performed in
respect of each Mortgaged Property; provided, however, that the Paying Agent
shall be permitted to require payment by the requesting party (other than either
Rating Agency) of a sum sufficient to cover the reasonable expenses actually
incurred by the Trustee of providing access or copies (including electronic or
digital copies) of any such information reasonably requested in accordance with
the preceding sentence.

            Section 5.5 Paying Agent Tax Reports. The Paying Agent shall perform
all reporting and other tax compliance duties that are the responsibility of
each REMIC Pool under the Code, REMIC Provisions, or other compliance guidance
issued by the Internal Revenue Service or any state or local taxing authority.
Consistent with this Pooling and Servicing Agreement, the Paying Agent shall
provide or cause to be provided (i) to the United States Treasury or other
Persons (including, but not limited to, the Transferor of a Class R-I, Class
R-II or Class R-III Certificate, to a Disqualified Organization or to an agent
that has acquired a Class R-I, Class R-II or Class R-III Certificate on behalf
of a Disqualified Organization) such information as is necessary for the
application of any tax relating to the transfer of a Class R-I, Class R-II or
Class R-III Certificate to any Disqualified Organization and (ii) to the
Certificateholders such information or reports as are required by the Code or
REMIC Provisions. The Master Servicer shall on a timely basis provide the Paying
Agent with such information concerning the Mortgage Loans as is necessary for
the preparation of the tax or information returns or receipts of each REMIC Pool
as the Paying Agent may reasonably request from time to time. The Special
Servicer is required to provide to the Master Servicer all information in its
possession with respect to the Specially Serviced Mortgage Loans in order for
the Master Servicer to comply with its obligations under this Section 5.5. The
Paying Agent shall be entitled to conclusively rely on any such information
provided to it by the Master Servicer or the Special Servicer and shall have no
obligation to verify any such information.

                                   ARTICLE VI

                                  DISTRIBUTIONS

            Section 6.1 Distributions Generally. Subject to Section 10.2(a),
respecting the final distribution on the Certificates, on each Distribution
Date, the Paying Agent shall (1) first, withdraw from the Distribution Account
and pay to the Fiscal Agent and Trustee any unpaid fees, expenses and other
amounts then required to be paid pursuant to this Agreement, and then, to the
Paying Agent, any unpaid fees, expenses and other amounts then required to be
paid pursuant to this Agreement, and then at the written direction of the Master
Servicer, withdraw from the Distribution Account and pay to the Master Servicer,
the Primary Servicers and Special Servicer any unpaid servicing compensation or
other amounts currently required to be paid pursuant to this Agreement (to the
extent not previously retained or withdrawn by the Master Servicer from the
Certificate Account), and (2) second, make distributions in the manner and
amounts set forth below.

            Each distribution to Holders of Certificates shall be made by check
mailed to such Holder's address as it appears on the Certificate Register of the
Certificate Registrar or, upon written request to the Paying Agent on or prior
to the related Record Date (or upon standing instructions given to the Paying
Agent on the Closing Date prior to any Record Date, which instructions may be
revoked at any time thereafter upon written notice to the Paying Agent five days
prior to the related Record Date) made by a Certificateholder by wire transfer
in immediately available funds to an account specified in the request of such
Certificateholder; provided that (i) remittances to the Paying Agent shall be
made by wire transfer of immediately available funds to the Distribution Account
and the Reserve Account; and (ii) the final distribution in respect of any
Certificate shall be made only upon presentation and surrender of such
Certificate at such location specified by the Paying Agent in a notice delivered
to Certificateholders pursuant to Section 10.2(a). If any payment required to be
made on the Certificates is to be made on a day that is not a Business Day, then
such payment will be made on the next succeeding Business Day without
compensation for such delay. All distributions or allocations made with respect
to Holders of Certificates of a Class on each Distribution Date shall be made or
allocated among the outstanding Interests in such Class in proportion to their
respective initial Certificate Balances or Percentage Interests for the Class X
Certificates.

            Section 6.2 REMIC I. (a) On each Distribution Date, the Paying Agent
shall be deemed to distribute to itself on behalf of the Trustee, as holder of
the REMIC I Regular Interests, for the following purposes and in the following
order of priority:

            (i) from the portion of the Available Distribution Amount
      attributable to interest collected or deemed collected on or with respect
      to each Mortgage Loan or REO Property, Distributable Certificate Interest
      to each Corresponding REMIC I Regular Interest;

            (ii) from the portion of the Available Distribution Amount
      attributable to principal collected or deemed collected on or with respect
      to each Mortgage Loan or REO Property, principal to the Corresponding
      REMIC I Regular Interest, until the Certificate Balance thereof is reduced
      to zero;

            (iii) any remaining funds, to reimburse any Realized Losses
      previously allocated to the REMIC I Regular Interests, plus interest on
      such Realized Losses previously allocated thereto, at the applicable
      Pass-Through Rates; and

            (iv) thereafter, to the Class R-I Certificateholders at such time as
      the Certificate Balance of all Classes of REMIC I Regular Interests have
      been reduced to zero, and Realized Losses previously allocated thereto
      have been reimbursed to the Holders of the REMIC I Regular Interests, any
      amounts remaining.

            Section 6.3 REMIC II. (a) On each Distribution Date, the Paying
Agent shall be deemed to distribute to itself on behalf of the Trustee, as
holder of the REMIC II Regular Interests, for the following purposes and in the
following order of priority:

            (i) an amount equal to Distributable Certificate Interest for the
      Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates,
      Class A-4 Certificates, Class X-1 Certificates and Class X-2 Certificates
      to the REMIC II Regular Interests, divided among such REMIC II Regular
      Interests in proportion to (A) in the case of the REMIC II Regular
      Interest A-1A, REMIC II Regular Interest A-1B, REMIC II Regular Interest
      A-1C, REMIC II Regular Interest A-2A, REMIC II Regular Interest A-2B,
      REMIC II Regular Interest A-2C, REMIC II Regular Interest A-3A, REMIC II
      Regular Interest A-3B, REMIC II Regular Interest A-3C, and REMIC II
      Regular Interest A-4 the Accrued Certificate Interest for such
      Distribution Date and (B) in the case of REMIC II Regular Interest B,
      REMIC II Regular Interest C-1, REMIC II Regular Interest C-2, REMIC II
      Regular Interest D, REMIC II Regular Interest E-1, REMIC II Regular
      Interest E-2, REMIC II Regular Interest F-1, REMIC II Regular Interest
      F-2, REMIC II Regular Interest G, REMIC II Regular Interest H-1, REMIC II
      Regular Interest H-2, REMIC II Regular Interest J, REMIC II Regular
      Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M,
      REMIC II Regular Interest N and REMIC II Regular Interest O, the product
      of (a) the Certificate Balance of such Interest and (b) one-twelfth of the
      sum of the related Class X-1 Strip Rate and the related Class X-2 Strip
      Rate (if any);

            (ii) to REMIC II Regular Interest A-1A, REMIC II Regular Interest
      A-1B, REMIC II Regular Interest A-1C, REMIC II Regular Interest A-2A,
      REMIC II Regular Interest A-2B, REMIC II Regular Interest A-2C, REMIC II
      Regular Interest A-3A, REMIC II Regular Interest A-3B, REMIC II Regular
      Interest A-3C and REMIC II Regular Interest A-4, in reduction of the
      Certificate Balances thereof, in an amount up to the Principal
      Distribution Amount for such Distribution Date: (A) first, to REMIC II
      Regular Interest A-1A until the Certificate Balance of REMIC II Regular
      Interest A-1A is reduced to zero, and upon payment in full of the
      Certificate Balance of REMIC II Regular Interest A-1A, to REMIC II Regular
      Interest A-1B, the Principal Distribution Amount for such Distribution
      Date (reduced by any portion thereof deemed to be distributed to REMIC II
      Regular Interest A-1A), until the Certificate Balance of REMIC II Regular
      Interest A-1B has been reduced to zero, and upon payment in full of the
      Certificate Balance of REMIC II Regular Interest A-1B, to REMIC II Regular
      Interest A-1C, the Principal Distribution Amount for such Distribution
      Date (reduced by any portion thereof deemed to be distributed to REMIC II
      Regular Interest A-1A and A-1B), until the Certificate Balance of REMIC II
      Regular Interest A-1C has been reduced to zero, (B) second, to REMIC II
      Regular Interest A-2A, the Principal Distribution Amount for such
      Distribution Date (reduced by any portion thereof deemed to be distributed
      to REMIC II Regular Interest A-1A, A-1B and A-1C), until the Certificate
      Balance of REMIC II Regular Interest A-2A has been reduced to zero, and
      upon payment in full of the Certificate Balance of REMIC II Regular
      Interest A-2A, to REMIC II Regular Interest A-2B, the Principal
      Distribution Amount for such Distribution Date (reduced by any portion
      thereof deemed to be distributed to REMIC II Regular Interest A-1A, A-1B,
      A-1C and A-2A), until the Certificate Balance of REMIC II Regular Interest
      A-2B has been reduced to zero, and upon payment in full of the Certificate
      Balance of REMIC II Regular Interest A-2B, to REMIC II Regular Interest
      A-2C, the Principal Distribution Amount for such Distribution Date
      (reduced by any portion thereof deemed to be distributed to REMIC II
      Regular Interest A-1A, A-1B, A-1C, A-2A and A-2B), until the Certificate
      Balance of REMIC II Regular Interest A-2C has been reduced to zero, (C)
      third, to REMIC II Regular Interest A-3A, the Principal Distribution
      Amount for such Distribution Date (reduced by any portion thereof deemed
      to be distributed to REMIC II Regular Interest A-1A, A-1B, A-1C, A-2A,
      A-2B and A-2C), until the Certificate Balance of REMIC II Regular Interest
      A-3A has been reduced to zero, and upon payment in full of the Certificate
      Balance of REMIC II Regular Interest A-3A, to REMIC II Regular Interest
      A-3B, the Principal Distribution Amount for such Distribution Date
      (reduced by any portion thereof deemed to be distributed to REMIC II
      Regular Interest A-1A, A-1B, A-1C, A-2A, A-2B, A-2C and A-3A), until the
      Certificate Balance of REMIC II Regular Interest A-3B has been reduced to
      zero, and upon payment in full of the Certificate Balance of REMIC II
      Regular Interest A-3B, to REMIC II Regular Interest A-3C, the Principal
      Distribution Amount for such Distribution Date (reduced by any portion
      thereof deemed to be distributed to REMIC II Regular Interest A-1A, A-1B,
      A-1C, A-2A, A-2B, A-2C, A-3A and A-3B), until the Certificate Balance of
      REMIC II Regular Interest A-3C has been reduced to zero; and (D) fourth,
      to REMIC II Regular Interest A-4, the Principal Distribution Amount for
      such Distribution Date (reduced by any portion thereof deemed to be
      distributed to REMIC II Regular Interest A-1A, A-1B, A-1C, A-2A, A-2B,
      A-2C, A-3A, A-3B and A-3C), until the Certificate Balance of REMIC II
      Regular Interest A-4 has been reduced to zero.

            (iii) to REMIC II Regular Interest A-1A, REMIC II Regular Interest
      A-1B, REMIC II Regular Interest A-1C, REMIC II Regular Interest A-2A,
      REMIC II Regular Interest A-2B, REMIC II Regular Interest A-2C, REMIC II
      Regular Interest A-3A, REMIC II Regular Interest A-3B, REMIC II Regular
      Interest A-3C, REMIC II Regular Interest A-4, REMIC II Regular Interest B,
      REMIC II Regular Interest C-1, REMIC II Regular Interest C-2, REMIC II
      Regular Interest D, REMIC II Regular Interest E-1, REMIC II Regular
      Interest E-2, REMIC II Regular Interest F-1, REMIC II Regular Interest
      F-2, REMIC II Regular Interest G, REMIC II Regular Interest H-1, REMIC II
      Regular Interest H-2, REMIC Regular Interest J, REMIC II Regular Interest
      K, REMIC II Regular Interest L, REMIC II Regular Interest M, REMIC II
      Regular Interest N and REMIC II Regular Interest O, pro rata on the basis
      of their respective entitlements to reimbursement described in this clause
      (iii), to reimburse any Realized Interest Losses previously allocated to
      REMIC II Regular Interest A-1A, REMIC II Regular Interest A-1B, REMIC II
      Regular Interest A-1C, REMIC II Regular Interest A-2A, REMIC II Regular
      Interest A-2B, REMIC II Regular Interest A-2C, REMIC II Regular Interest
      A-3A, REMIC II Regular Interest A-3B, REMIC II Regular Interest A-3C,
      REMIC II Regular Interest A-4, REMIC II Regular Interest B, REMIC II
      Regular Interest C-1, REMIC II Regular Interest C-2, REMIC II Regular
      Interest D, REMIC II Regular Interest E-1, REMIC II Regular Interest E-2,
      REMIC II Regular Interest F-1, REMIC II Regular Interest F-2, REMIC II
      Regular Interest G, REMIC II Regular Interest H-1, REMIC II Regular
      Interest H-2, REMIC Regular Interest J, REMIC II Regular Interest K, REMIC
      II Regular Interest L, REMIC II Regular Interest M, REMIC II Regular
      Interest N and REMIC II Regular Interest O, in the case of all such
      Interests other than the REMIC II Regular Interest A-1A, REMIC II Regular
      Interest A-1B, REMIC II Regular Interest A-1C, REMIC II Regular Interest
      A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-2C,
      REMIC II Regular Interest A-3A, REMIC II Regular Interest A-3B, REMIC II
      Regular Interest A-3C and REMIC II Regular Interest A-4, as a result of
      the allocation of Realized Interest Losses to the Class X Certificates and
      in the case of all such Interests, inclusive of one month's interest at
      the applicable Pass-Through Rate on such Realized Interest Losses;

            (iv) to REMIC II Regular Interest B, the remainder of the
      Distributable Certificate Interest for such Interest for such Distribution
      Date to the extent not distributed pursuant to clause (i) above;

            (v) upon payment in full of the Certificate Balances of REMIC II
      Regular Interest A-2C, to the REMIC II Regular Interest B, the Principal
      Distribution Amount for such Distribution Date (reduced by any portion
      thereof deemed to be distributed pursuant to the preceding provisions
      hereof), until the Certificate Balance of REMIC II Regular Interest B has
      been reduced to zero;

            (vi) to REMIC II Regular Interest B, to reimburse any unreimbursed
      Realized Losses previously allocated thereto, to the extent not
      distributed pursuant to clause (iii) above, plus one month's interest at
      the applicable Pass-Through Rate on such Realized Losses;

            (vii) to REMIC II Regular Interest C-1, REMIC II Regular Interest
      C-2 and REMIC II Regular Interest C-3, the remainder of the Distributable
      Certificate Interest for such Interest for such Distribution Date, divided
      among such REMIC II Regular Interests in proportion to the Accrued
      Certificate Interest for such Distribution Date, to the extent not
      distributed pursuant to clause (i) above;

            (viii) upon payment in full of the Certificate Balance of REMIC II
      Regular Interest B, to REMIC II Regular Interest C-1, the Principal
      Distribution Amount for such Distribution Date (reduced by any portion
      thereof deemed to be distributed pursuant to the preceding provisions
      hereof), until the Certificate Balance of REMIC II Regular Interest C-1
      has been reduced to zero, and upon payment in full of the Certificate
      Balance of REMIC II Regular Interest C-1, to REMIC II Regular Interest
      C-2, the Principal Distribution Amount for such Distribution Date (reduced
      by any portion thereof deemed to be distributed pursuant to the preceding
      provisions hereof), until the Certificate Balance of REMIC II Regular
      Interest C-2 has been reduced to zero;

            (ix) to REMIC II Regular Interest C-1 and REMIC II Regular Interest
      C-2, to reimburse any unreimbursed Realized Losses previously allocated
      thereto, to the extent not distributed pursuant to clause (iii) above,
      plus one month's interest at the applicable Pass-Through Rate on such
      Realized Losses, pro rata on the basis of their respective entitlements to
      reimbursement;

            (x) to REMIC II Regular Interest D, the remainder of the
      Distributable Certificate Interest for such Interest for such Distribution
      Date to the extent not distributed pursuant to clause (i) above;

            (xi) upon payment in full of the Certificate Balance of REMIC II
      Regular Interest C-2, to REMIC II Regular Interest D, the Principal
      Distribution Amount for such Distribution Date (reduced by any portion
      thereof deemed to be distributed pursuant to the preceding provisions
      hereof), until the Certificate Balance of the REMIC II Regular Interest D
      has been reduced to zero;

            (xii) to REMIC II Regular Interest D, to reimburse any unreimbursed
      Realized Losses previously allocated thereto, to the extent not
      distributed pursuant to clause (iii) above, plus one month's interest at
      the applicable Pass-Through Rate on such Realized Losses;

            (xiii) to REMIC II Regular Interest E-1 and REMIC II Regular
      Interest E-2, the remainder of the Distributable Certificate Interest for
      such Interests for such Distribution Date, divided among such REMIC II
      Regular Interests in proportion to the Accrued Certificate Interest for
      such Distribution Date, to the extent not distributed pursuant to clause
      (i) above;

            (xiv) upon payment in full of the Certificate Balance of REMIC II
      Regular Interest D, to REMIC II Regular Interest E-1, the Principal
      Distribution Amount for such Distribution Date (reduced by any portion
      thereof deemed to be distributed pursuant to the preceding provisions
      hereof), until the Certificate Balance of REMIC II Regular Interest E-1
      has been reduced to zero, and upon payment in full of the Certificate
      Balance of REMIC II Regular Interest E-1, to REMIC II Regular Interest
      E-2, the Principal Distribution Amount for such Distribution Date (reduced
      by any portion thereof deemed to be distributed pursuant to the preceding
      provisions hereof), until the Certificate Balance of REMIC II Regular
      Interest E-2 has been reduced to zero;

            (xv) to REMIC II Regular Interest E-1 and REMIC II Regular Interest
      E-2, to reimburse any unreimbursed Realized Losses previously allocated
      thereto, to the extent not distributed pursuant to clause (iii) above,
      plus one month's interest at the applicable Pass-Through Rate on such
      Realized Losses, pro rata on the basis of their respective entitlements to
      reimbursement;

            (xvi) to REMIC II Regular Interest F-1 and REMIC II Regular Interest
      F-2, the remainder of the Distributable Certificate Interest for such
      Interest for such Distribution Date to the extent not distributed pursuant
      to clause (i) above;

            (xvii) upon payment in full of the Certificate Balance of REMIC II
      Regular Interest E-2, to REMIC II Regular Interest F-1, the Principal
      Distribution Amount for such Distribution Date (reduced by any portion
      thereof deemed to be distributed pursuant to the preceding provisions
      hereof), until the Certificate Balance of REMIC II Regular Interest F-1
      has been reduced to zero, and upon payment in full of the Certificate
      Balance of REMIC II Regular Interest F-1, to REMIC II Regular Interest
      F-2, the Principal Distribution Amount for such Distribution Date (reduced
      by any portion thereof deemed to be distributed pursuant to the preceding
      provisions hereof), until the Certificate Balance of REMIC II Regular
      Interest F-2 has been reduced to zero;

            (xviii) to REMIC II Regular Interest F-1 and REMIC II Regular
      Interest F-2, to reimburse any unreimbursed Realized Losses previously
      allocated thereto, to the extent not distributed pursuant to clause (iii)
      above, plus one month's interest at the applicable Pass-Through Rate on
      such Realized Losses;

            (xix) to REMIC II Regular Interest G, the remainder of the
      Distributable Certificate Interest for such Interests for such
      Distribution Date, divided among such REMIC II Regular Interests in
      proportion to the Accrued Certificate Interest for such Distribution Date,
      to the extent not distributed pursuant to clause (i) above;

            (xx) upon payment in full of the Certificate Balance of REMIC II
      Regular Interest F-2, to REMIC II Regular Interest G, the Principal
      Distribution Amount for such Distribution Date (reduced by any portion
      thereof deemed to be distributed pursuant to the preceding provisions
      hereof), until the Certificate Balance of REMIC II Regular Interest G has
      been reduced to zero;

            (xxi) to REMIC II Regular Interest G, to reimburse any unreimbursed
      Realized Losses previously allocated thereto, to the extent not
      distributed pursuant to clause (iii) above, plus one month's interest at
      the applicable Pass-Through Rate on such Realized Losses, pro rata on the
      basis of their respective entitlements to reimbursement;

            (xxii) to REMIC II Regular Interest H-1 and REMIC II Regular
      Interest H-2, the remainder of the Distributable Certificate Interest for
      such Interest for such Distribution Date to the extent not distributed
      pursuant to clause (i) above;

            (xxiii) upon payment in full of the Certificate Balance of REMIC II
      Regular Interest G, to REMIC II Regular Interest H-1, the Principal
      Distribution Amount for such Distribution Date (reduced by any portion
      thereof deemed to be distributed pursuant to the preceding provisions
      hereof), until the Certificate Balance of REMIC II Regular Interest H-1
      has been reduced to zero, and upon payment in full of the Certificate
      Balance of REMIC II Regular Interest H-1, to REMIC II Regular Interest
      H-2, the Principal Distribution Amount for such Distribution Date (reduced
      by any portion thereof deemed to be distributed pursuant to the preceding
      provisions hereof), until the Certificate Balance of REMIC II Regular
      Interest H-2 has been reduced to zero;

            (xxiv) to REMIC II Regular Interest H-1 and REMIC II Regular
      Interest H-2, to reimburse any unreimbursed Realized Losses previously
      allocated thereto, to the extent not distributed pursuant to clause (iii)
      above, plus one month's interest at the applicable Pass-Through Rate on
      such Realized Losses;

            (xxv) to REMIC II Regular Interest J, the remainder of the
      Distributable Certificate Interest for such Interest for such Distribution
      Date to the extent not distributed pursuant to clause (i) above;

            (xxvi) upon payment in full of the Certificate Balance of REMIC II
      Regular Interest H-2, to REMIC II Regular Interest J, the Principal
      Distribution Amount for such Distribution Date (reduced by any portion
      thereof deemed to be distributed pursuant to the preceding provisions
      hereof), until the Certificate Balance of REMIC II Regular Interest J has
      been reduced to zero;

            (xxvii) to REMIC II Regular Interest J, to reimburse any
      unreimbursed Realized Losses previously allocated thereto, to the extent
      not distributed pursuant to clause (iii) above, plus one month's interest
      at the applicable Pass-Through Rate on such Realized Losses;

            (xxviii) to REMIC II Regular Interest K, the remainder of the
      Distributable Certificate Interest for such Interest for such Distribution
      Date to the extent not distributed pursuant to clause (i) above;

            (xxix) upon payment in full of the Certificate Balance of REMIC II
      Regular Interest J, to REMIC II Regular Interest K, the Principal
      Distribution Amount for such Distribution Date (reduced by any portion
      thereof deemed to be distributed pursuant to the preceding provisions
      hereof), until the Certificate Balance of REMIC II Regular Interest K has
      been reduced to zero;

            (xxx) to REMIC II Regular Interest K, to reimburse any unreimbursed
      Realized Losses previously allocated thereto, to the extent not
      distributed pursuant to clause (iii) above, plus one month's interest at
      the applicable Pass-Through Rate on such Realized Losses;

            (xxxi) to REMIC II Regular Interest L, the remainder of the
      Distributable Certificate Interest for such Interest for such Distribution
      Date to the extent not distributed pursuant to clause (i) above;

            (xxxii) upon payment in full of the Certificate Balance of REMIC II
      Regular Interest K, to REMIC II Regular Interest L, the Principal
      Distribution Amount for such Distribution Date (reduced by any portion
      thereof deemed to be distributed pursuant to the preceding provisions
      hereof), until the Certificate Balance of REMIC II Regular Interest L has
      been reduced to zero;

            (xxxiii) to REMIC II Regular Interest L, to reimburse any
      unreimbursed Realized Losses previously allocated thereto, to the extent
      not distributed pursuant to clause (iii) above, plus one month's interest
      at the applicable Pass-Through Rate on such Realized Losses;

            (xxxiv) to REMIC II Regular Interest M, the remainder of the
      Distributable Certificate Interest for such Interest for such Distribution
      Date to the extent not distributed pursuant to clause (i) above;

            (xxxv) upon payment in full of the Certificate Balance of REMIC II
      Regular Interest L, to REMIC II Regular Interest M, the Principal
      Distribution Amount for such Distribution Date (reduced by any portion
      thereof deemed to be distributed pursuant to the preceding provisions
      hereof), until the Certificate Balance of REMIC II Regular Interest M has
      been reduced to zero;

            (xxxvi) to REMIC II Regular Interest M, to reimburse any
      unreimbursed Realized Losses previously allocated thereto, to the extent
      not distributed pursuant to clause (iii) above, plus one month's interest
      at the applicable Pass-Through Rate on such Realized Losses;

            (xxxvii) to REMIC II Regular Interest N, the remainder of the
      Distributable Certificate Interest for such Interest for such Distribution
      Date to the extent not distributed pursuant to clause (i) above;

            (xxxviii) upon payment in full of the Certificate Balance of REMIC
      II Regular Interest M, to REMIC II Regular Interest N, the Principal
      Distribution Amount for such Distribution Date (reduced by any portion
      thereof deemed to be distributed pursuant to the preceding provisions
      hereof), until the Certificate Balance of REMIC II Regular Interest N has
      been reduced to zero;

            (xxxix) to REMIC II Regular Interest N, to reimburse any
      unreimbursed Realized Losses previously allocated thereto, to the extent
      not distributed pursuant to clause (iii) above, plus one month's interest
      at the applicable Pass-Through Rate on such Realized Losses;

            (xl) to REMIC II Regular Interest O, the remainder of the
      Distributable Certificate Interest for such Interest for such Distribution
      Date to the extent not distributed pursuant to clause (i) above;

            (xli) upon payment in full of the Certificate Balance of REMIC II
      Regular Interest N, to REMIC II Regular Interest O, the Principal
      Distribution Amount for such Distribution Date (reduced by any portion
      thereof deemed to be distributed pursuant to the preceding provisions
      hereof), until the Certificate Balance of REMIC II Regular Interest O has
      been reduced to zero;

            (xlii) to REMIC II Regular Interest O, to reimburse any unreimbursed
      Realized Losses previously allocated thereto, to the extent not
      distributed pursuant to clause (iii) above, plus one month's interest at
      the applicable Pass-Through Rate on such Realized Losses;

            (xliii) thereafter, to the Class R-II Certificateholders at such
      time as the Certificate Balances of all Classes of REMIC II Regular
      Interests have been reduced to zero, and Realized Losses previously
      allocated thereto have been reimbursed to the Holders of REMIC II Regular
      Interests, any amounts remaining.

            Section 6.4 Reserved.

            Section 6.5 REMIC III. (a) On each Distribution Date, the Paying
Agent shall withdraw from the Distribution Account an amount equal to the
Available Distribution Amount and shall distribute such amount (other than the
amount attributable to Excess Interest which shall be distributed in accordance
with Section 6.5(c)) and Excess Liquidation Proceeds in the following amounts
and order of priority:

            (i) to the Holders of the Class A-1 Certificates, Class A-2
      Certificates, Class A-3 Certificates, Class A-4 Certificates, Class X-1
      Certificates and Class X-2 Certificates, Distributable Certificate
      Interest for such Distribution Date, pro rata in proportion to the
      Distributable Certificate Interest payable to each such Class;

            (ii) to the Holders of the Class A-1, Class A-2, Class A-3
      Certificates and Class A-4 Certificates, in reduction of the Certificate
      Balances thereof, in an amount up to the Principal Distribution Amount for
      such Distribution Date: first, to the Holders of the Class A-1
      Certificates, the Principal Distribution Amount for such Distribution Date
      until the Certificate Balance thereof is reduced to zero; second, upon
      payment in full of the aggregate Certificate Balance of the Class A-1
      Certificates, to the holders of the Class A-2 Certificates, the Principal
      Distribution Amount for such Distribution Date (reduced by any prior
      distributions thereof hereunder) until the aggregate Certificate Balance
      of the Class A-2 Certificates has been reduced to zero; third, upon
      payment in full of the aggregate Certificate Balance of the Class A-2
      Certificates, to the holders of the Class A-3 Certificates, the Principal
      Distribution Amount for such Distribution Date (reduced by any prior
      distributions thereof hereunder) until the aggregate Certificate Balance
      of the Class A-3 Certificates has been reduced to zero; and fourth, upon
      payment in full of the aggregate Certificate Balance of the Class A-3
      Certificates, to the holders of the Class A-4 Certificates, the Principal
      Distribution Amount for such Distribution Date (reduced by any prior
      distributions thereof hereunder) until the aggregate Certificate Balance
      of the Class A-4 Certificates has been reduced to zero

            (iii) to the Holders of the Class A Certificates, Class X-1
      Certificates and Class X-2 Certificates, pro rata (treating principal and
      interest losses separately), to reimburse any Realized Losses previously
      allocated thereto and not previously fully reimbursed, plus one month's
      interest at the applicable Pass-Through Rate on such Realized Losses;

            (iv) to the Holders of the Class B Certificates, Distributable
      Certificate Interest for such Distribution Date;

            (v) upon payment in full of the Certificate Balance of the Class A-4
      Certificates, to the Holders of the Class B Certificates, the Principal
      Distribution Amount for such Distribution Date (reduced by any prior
      distributions thereof hereunder), until the Certificate Balance of the
      Class B Certificates has been reduced to zero;

            (vi) to the Holders of the Class B Certificates, to reimburse any
      Realized Losses previously allocated thereto and not previously fully
      reimbursed, plus one month's interest at the applicable Pass-Through Rate
      on such Realized Losses;

            (vii) to the Holders of the Class C Certificates, Distributable
      Certificate Interest for such Distribution Date;

            (viii) upon payment in full of the Certificate Balance of the Class
      B Certificates, to the Holders of the Class C Certificates, the Principal
      Distribution Amount for such Distribution Date (reduced by any prior
      distributions thereof hereunder), until the Certificate Balance of the
      Class C Certificates has been reduced to zero;

            (ix) to the Holders of the Class C Certificates, to reimburse any
      Realized Losses previously allocated thereto and not previously fully
      reimbursed, plus one month's interest at the applicable Pass-Through Rate
      on such Realized Losses;

            (x) to the Holders of the Class D Certificates, Distributable
      Certificate Interest for such Distribution Date;

            (xi) upon payment in full of the Certificate Balance of the Class C
      Certificates, to the Holders of the Class D Certificates, the Principal
      Distribution Amount for such Distribution Date (reduced by any prior
      distributions thereof hereunder), until the Certificate Balance of the
      Class D Certificates has been reduced to zero;

            (xii) to the Holders of the Class D Certificates, to reimburse any
      Realized Losses previously allocated thereto and not previously fully
      reimbursed, plus one month's interest at the applicable Pass-Through Rate
      on such Realized Losses;

            (xiii) to the Holders of the Class E Certificates, Distributable
      Certificate Interest for such Distribution Date;

            (xiv) upon payment in full of the Certificate Balance of the Class D
      Certificates, to the Holders of the Class E Certificates, the Principal
      Distribution Amount for such Distribution Date (reduced by any prior
      distributions thereof hereunder), until the Certificate Balance of the
      Class E Certificates has been reduced to zero;

            (xv) to the Holders of the Class E Certificates, to reimburse any
      Realized Losses previously allocated thereto and not previously fully
      reimbursed, plus one month's interest at the applicable Pass-Through Rate
      on such Realized Losses;

            (xvi) to the Holders of the Class F Certificates, Distributable
      Certificate Interest for such Distribution Date;

            (xvii) upon payment in full of the Certificate Balance of the Class
      E Certificates, to the Holders of the Class F Certificates, the Principal
      Distribution Amount for such Distribution Date (reduced by any prior
      distributions thereof hereunder), until the Certificate Balance of the
      Class F Certificates has been reduced to zero;

            (xviii) to the Holders of the Class F Certificates, to reimburse any
      Realized Losses previously allocated thereto and not previously fully
      reimbursed, plus one month's interest at the applicable Pass-Through Rate
      on such Realized Losses;

            (xix) to the Holders of the Class G Certificates, Distributable
      Certificate Interest for such Distribution Date;

            (xx) upon payment in full of the Certificate Balance of the Class F
      Certificates, to the Holders of the Class G Certificates, the Principal
      Distribution Amount for such Distribution Date (reduced by any prior
      distributions thereof hereunder), until the Certificate Balance of the
      Class G Certificates has been reduced to zero;

            (xxi) to the Holders of the Class G Certificates, to reimburse any
      Realized Losses previously allocated thereto and not previously fully
      reimbursed, plus one month's interest at the applicable Pass-Through Rate
      on such Realized Losses;

            (xxii) to the Holders of the Class H Certificates, Distributable
      Certificate Interest for such Distribution Date;

            (xxiii) upon payment in full of the Certificate Balance of the Class
      G Certificates, to the Holders of the Class H Certificates, the Principal
      Distribution Amount for such Distribution Date (reduced by any prior
      distributions thereof hereunder), until the Certificate Balance of the
      Class H Certificates has been reduced to zero;

            (xxiv) to the Holders of the Class H Certificates, to reimburse any
      Realized Losses previously allocated thereto and not previously fully
      reimbursed, plus one month's interest at the applicable Pass-Through Rate
      on such Realized Losses;

            (xxv) to the Holders of the Class J Certificates, Distributable
      Certificate Interest for such Distribution Date;

            (xxvi) upon payment in full of the Certificate Balance of the Class
      H Certificates, to the Holders of the Class J Certificates, the Principal
      Distribution Amount for such Distribution Date (reduced by any prior
      distributions thereof hereunder), until the Certificate Balance of the
      Class J Certificates has been reduced to zero;

            (xxvii) to the Holders of the Class J Certificates, to reimburse any
      Realized Losses previously allocated thereto and not previously fully
      reimbursed, plus one month's interest at the applicable Pass-Through Rate
      on such Realized Losses;

            (xxviii) to the Holders of the Class K Certificates, Distributable
      Certificate Interest for such Distribution Date;

            (xxix) upon payment in full of the Certificate Balance of the Class
      J Certificates, to the Holders of the Class K Certificates, the Principal
      Distribution Amount for such Distribution Date (reduced by any prior
      distributions thereof hereunder), until the Certificate Balance of the
      Class K Certificates has been reduced to zero;

            (xxx) to the Holders of the Class K Certificates, to reimburse any
      Realized Losses previously allocated thereto and not previously fully
      reimbursed, plus one month's interest at the applicable Pass-Through Rate
      on such Realized Losses;

            (xxxi) to the Holders of the Class L Certificates, Distributable
      Certificate Interest for such Distribution Date;

            (xxxii) upon payment in full of the Certificate Balance of the Class
      K Certificates, to the Holders of the Class L Certificates, the Principal
      Distribution Amount for such Distribution Date (reduced by any prior
      distributions thereof hereunder), until the Certificate Balance of the
      Class L Certificates has been reduced to zero;

            (xxxiii) to the Holders of the Class L Certificates, to reimburse
      any Realized Losses previously allocated thereto and not previously fully
      reimbursed, plus one month's interest at the applicable Pass-Through Rate
      on such Realized Losses; (xxxiv) to the Holders of the Class M
      Certificates, Distributable Certificate Interest for such Distribution
      Date;

            (xxxv) upon payment in full of the Certificate Balance of the Class
      L Certificates, to the Holders of the Class M Certificates, the Principal
      Distribution Amount for such Distribution Date (reduced by any prior
      distributions thereof hereunder), until the Certificate Balance of the
      Class M Certificates has been reduced to zero;

            (xxxvi) to the Holders of the Class M Certificates, to reimburse any
      Realized Losses previously allocated thereto and not previously fully
      reimbursed, plus one month's interest at the applicable Pass-Through Rate
      on such Realized Losses;

            (xxxvii) to the Holders of the Class N Certificates, Distributable
      Certificate Interest for such Distribution Date;

            (xxxviii) upon payment in full of the Certificate Balance of the
      Class M Certificates, to the Holders of the Class N Certificates, the
      Principal Distribution Amount for such Distribution Date (reduced by any
      prior distributions thereof hereunder), until the Certificate Balance of
      the Class N Certificates has been reduced to zero;

            (xxxix) to the Holders of the Class N Certificates, to reimburse any
      Realized Losses previously allocated thereto and not previously fully
      reimbursed, plus one month's interest at the applicable Pass-Through Rate
      on such Realized Losses;

            (xl) to the Holders of the Class O Certificates, Distributable
      Certificate Interest for such Distribution Date;

            (xli) upon payment in full of the Certificate Balance of the Class N
      Certificates, to the Holders of the Class O Certificates, the Principal
      Distribution Amount for such Distribution Date (reduced by any prior
      distributions thereof hereunder), until the Certificate Balance of the
      Class O Certificates has been reduced to zero;

            (xlii) to the Holders of the Class O Certificates, to reimburse any
      Realized Losses previously allocated thereto and not previously fully
      reimbursed, plus one month's interest at the applicable Pass-Through Rate
      on such Realized Losses; and

            (xliii) to the Holders of the Class R-III Certificates at such time
      as the Certificate Balances of all Classes of REMIC Regular Certificates
      have been reduced to zero, and Realized Losses previously allocated to
      each Holder have been reimbursed to the Holders of the REMIC Regular
      Certificates, any amounts remaining on deposit in the Distribution
      Account.

            Notwithstanding the foregoing, on each Distribution Date occurring
on or after the earliest date, if any, upon which the Certificate Balances of
all the Classes of Subordinate Certificates have been reduced to zero or the
aggregate Appraisal Reduction in effect is greater than or equal to Certificate
Balances of all the Classes of Subordinate Certificates, the Principal
Distribution Amount will be distributed, first, to the Holders of the Class A-1,
Class A-2, Class A-3 and Class A-4 Certificates, pro rata, based on their
respective Certificate Balances, in reduction of their respective Certificate
Balances, until the Certificate Balance of each such Class is reduced to zero;
and, second, to the Holders of the Class A-1, Class A-2, Class A-3 and Class A-4
Certificates, pro rata, based on the respective amounts of unreimbursed Realized
Losses previously allocated to each such Class, plus one month's interest on
such Realized Losses at the applicable Pass-Through Rate. A similar rule shall
apply to the distribution of the Principal Distribution Amount to REMIC II
Regular Interests A-1A, A-1B, A-1C, A-2A, A-2B, A-2C, A-3A, A-3B, A-3C and A-4
in lieu of the distributions described in Section 6.3(a)(ii).

            (b) On each Distribution Date, the Paying Agent shall withdraw
amounts in the Reserve Account and shall pay the Certificateholders on such
Distribution Date such amounts in the following priority:

            (i) first, to reimburse the Holders of the Principal Balance
      Certificates (in order of alphabetical Class designation) for any, and to
      the extent of, Realized Losses previously allocated to them; and

            (ii) second, upon the reduction of the Aggregate Certificate Balance
      of the Principal Balance Certificates to zero, to pay any amounts
      remaining on deposit in such account to the Special Servicer as additional
      Special Servicer Compensation.

            This Section 6.5(b) shall apply mutatis mutandis to reimbursement of
Realized Losses previously allocated to the REMIC II Regular Interests and the
REMIC I Regular Interests.

            Section 6.6 Allocation of Realized Losses, Expense Losses and
Shortfalls Due to Nonrecoverability. (a) REMIC I. On each Distribution Date,
except as provided in subsection (b) below,

            (i) Realized Principal Losses on each Mortgage Loan realized during
      the related Collection Period shall reduce the Certificate Balance of the
      Corresponding REMIC I Regular Interest;

            (ii) Realized Interest Losses on each Mortgage Loan shall be
      allocated to reduce first, Distributable Certificate Interest for such
      Distribution Date, and then Unpaid Interest in each case owing on the
      Corresponding REMIC I Regular Interest; and to the extent that such
      Realized Interest Loss exceeds such amount, shall be treated as an Expense
      Loss;

            (iii) Expense Losses (not otherwise applied above) realized during
      the related Collection Period shall be allocated among the REMIC I Regular
      Interests in proportion to their Certificate Balances after making all
      other allocations for such Distribution Date.

            (b) In the event that the Master Servicer, the Trustee or the Fiscal
Agent, determines that an Advance previously made by it is a Nonrecoverable
Advance and the Master Servicer withdraws the amount of such Advance from the
Certificate Account pursuant to Section 5.2(a) hereof (which amount shall be
treated as an Available Advance Reimbursement Amount pursuant to Section 4.6),
it shall determine the portion of the amount so withdrawn that is attributable
to (w) interest on the related Mortgage Loan; (x) principal on the related
Mortgage Loan; (y) Servicing Advances; and (z) Advance Interest. The portion of
the amount so withdrawn from the Certificate Account that is allocable to:

            (i) amounts previously advanced as interest on the related Mortgage
      Loan shall reduce the Available Distribution Amount for REMIC I and shall
      be allocated to reduce the amount of interest paid on each REMIC I Regular
      Interest on such Distribution Date in proportion to Distributable
      Certificate Interest otherwise payable thereon, and shall result in Unpaid
      Interest on each such REMIC I Regular Interest;

            (ii) amounts previously advanced as principal on the related
      Mortgage Loan shall reduce the Available Distribution Amount for REMIC I
      and shall be allocated to reduce the principal paid on each REMIC I
      Regular Interest on which principal would otherwise be paid on such
      Distribution Date, in proportion to such principal payments; and

            (iii) amounts previously advanced as Servicing Advances, as well as
      Advance Interest owing to the Master Servicer, the Trustee or the Fiscal
      Agent with respect to Advances shall be treated as Expense Losses and
      allocated in accordance with Section 6.6(a)(iii) above.

            (c) At such time as a Final Recovery Determination is made with
respect to any Mortgage Loan with respect to which the Master Servicer
previously had withdrawn amounts from the Certificate Account following a
determination that Advances previously made were Nonrecoverable Advances, or at
such other time as a Realized Loss shall occur with respect to any such Mortgage
Loan, either the Master Servicer (with respect to any Mortgage Loan other than a
Specially Serviced Mortgage Loan) or the Special Servicer (with respect to a
Specially Serviced Mortgage Loan) shall compute the Realized Loss with respect
to such Mortgage Loan; provided that the Master Servicer and the Special
Servicer, as applicable, agree to consult with the party who is making the
Realized Loss computation and to provide any information requested by the party
making the computation, and the Paying Agent shall allocate such Realized Loss
as follows:

            (i) to the extent that any Realized Principal Loss does not exceed
      the Certificate Balance on the Corresponding REMIC I Regular Interest,
      such Realized Principal Loss shall be allocated to such REMIC I Regular
      Interest; and to the extent that any Realized Principal Loss exceeds the
      Certificate Balance of the Corresponding REMIC I Regular Interest, such
      Realized Principal Loss shall be allocated to the other Corresponding
      REMIC I Regular Interests with respect to which distributions of principal
      were reduced pursuant to Section 6.6(b)(i) above, in proportion to the
      amount of such reductions;

            (ii) any Realized Interest Loss shall be allocated to the
      Corresponding REMIC I Interest to the extent of Unpaid Interest thereon
      and any remaining portion of the Realized Interest Loss shall be allocated
      as a Realized Interest Loss on each REMIC I Regular Interest with respect
      to which Unpaid Interest was created pursuant to Section 6.6(b)(ii) above
      in proportion to the amount of Unpaid Interest resulting from the
      reduction in distributions of interest on such REMIC I Regular Interest
      pursuant to Section 6.6(b)(ii) above;

            (iii) the portion of the amount recovered on the Mortgage Loan with
      respect to which amounts were withdrawn from the Certificate Account that
      are treated as Recoveries of principal on the Mortgage Loan shall be
      applied first, to make payments of principal on the Corresponding REMIC I
      Regular Interest until the Realized Principal Losses previously allocated
      thereto are reduced to zero and thereafter to make payments of principal
      to the Corresponding REMIC I Regular Interests with respect to which
      principal distributions were reduced pursuant to Section 6.6(b)(ii) above,
      in proportion to the amount of such reductions;

            (iv) the portion of the amount recovered on the Mortgage Loan with
      respect to which amounts were withdrawn from the Certificate Account that
      are treated as Recoveries of interest on the Mortgage Loan shall be
      applied first, to make payments of Unpaid Interest on the Corresponding
      REMIC I Regular Interest and thereafter to make payments of interest on
      each REMIC I Interest with respect to which Unpaid Interest was created
      pursuant to Section 6.6(b)(i) above in proportion to the amount of Unpaid
      Interest resulting from the reduction in distributions of interest on such
      REMIC I Regular Interest pursuant to Section 6.6(b)(i) above; and

            (v) the portion of the amount recovered on the Mortgage Loan with
      respect to which amounts were withdrawn from the Certificate Account that
      is treated as a recovery of expenses on the Mortgage Loan shall be applied
      in reimbursement of Expense Losses on each REMIC I Regular Interest with
      respect to which an Expense Loss was created pursuant to Section
      6.6(b)(iii) above in proportion to the amount of the Expense Loss
      allocated thereto pursuant to Section 6.6(b)(iii) above.

            (d) REMIC II. On each Distribution Date, all Realized Losses and
Expense Losses on the REMIC I Regular Interests for such Distribution Date (or
for prior Distribution Dates, to the extent not previously allocated) shall be
allocated to the Corresponding REMIC II Regular Interests in the amounts and in
the manner as will be allocated to the REMIC Regular Certificates relating
thereto pursuant to Section 6.6(f); provided, however, that Realized Losses
allocated to REMIC II Regular Interests that have Components shall be allocated
among the Components of such REMIC II Regular Interests sequentially in
alphabetical and numerical order. Realized Losses allocated to the Class X
Certificates shall reduce the amount of interest payable on the REMIC II Regular
Interest A-1A, REMIC II Regular Interest A-1B, REMIC II Regular Interest A-1C,
REMIC II Regular Interest A-2A, REMIC II Regular Interest A-2B, REMIC II Regular
Interest A-2C, REMIC II Regular Interest A-3A, REMIC II Regular Interest A-3B,
REMIC II Regular Interest A-3C, REMIC II Regular Interest A-4, REMIC II Regular
Interest B, REMIC II Regular Interest C-1, REMIC II Regular Interest C-2, REMIC
II Regular Interest D, REMIC II Regular Interest E-1, REMIC II Regular Interest
E-2, REMIC II Regular Interest F-1, REMIC II Regular Interest F-2, REMIC II
Regular Interest G, REMIC II Regular Interest H-1, REMIC II Regular Interest
H-2, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular
Interest L, REMIC II Regular Interest M, REMIC II Regular Interest N and REMIC
II Regular Interest O, which reduction shall be allocated pro rata based on the
product of the Certificate Balance of such REMIC II Regular Interest and the sum
of the Class X-1 Strip Rate and the Class X-2 Strip Rate (if any) applicable to
the Class of Certificates relating to such REMIC II Regular Interest.

            (e) Reserved.

            (f) REMIC III. On each Distribution Date, all Realized Losses on the
REMIC II Regular Interests for such Distribution Date (or for prior Distribution
Dates, to the extent not previously allocated) shall be allocated to the REMIC
Regular Certificates in Reverse Sequential Order, with such reductions being
allocated among the Class A-1 Certificates, Class A-2 Certificates, Class A-3
Certificates and Class A-4 Certificates, pro rata, in each case reducing (A) the
Certificate Balance of such Class until such Certificate Balance is reduced to
zero (in the case of the Class A Certificates); (B) Unpaid Interest owing to
such Class to the extent thereof; and (C) Distributable Certificate Interest
owing to such Class, provided that Realized Losses and Expense Losses shall not
reduce the Aggregate Certificate Balance of the REMIC Regular Certificates below
the sum of the Aggregate Certificate Balances of the REMIC II Regular Interests.

            Section 6.7 Net Aggregate Prepayment Interest Shortfalls. On each
Distribution Date, any Net Aggregate Prepayment Interest Shortfalls in REMIC I,
shall be allocated among the REMIC I Regular Interests, pro rata in proportion
to the Accrued Certificate Interest for each such REMIC I Regular Interest for
such Distribution Date and shall reduce Distributable Certificate Interest for
each such Interest. On each Distribution Date, any Net Aggregate Prepayment
Interest Shortfalls in REMIC II shall be allocated among the REMIC II Regular
Interests, pro rata in proportion to the Accrued Certificate Interest for each
such REMIC II Regular Interest for such Distribution Date and shall reduce
Distributable Certificate Interest for each such Interest. On each Distribution
Date, the amount of any Net Aggregate Prepayment Interest Shortfalls on the
REMIC III Regular Interests shall be allocated to each Class of Certificates,
pro rata, in proportion to the amount of Accrued Certificate Interest payable to
such Class of Certificates on such Distribution Date, in each case reducing
interest otherwise payable thereon. The amount of Net Aggregate Prepayment
Interest Shortfalls allocated to a Class of Certificates pursuant to the
preceding sentence shall reduce the Distributable Certificate Interest for such
Class for such Distribution Date. No Prepayment Interest Shortfall with respect
to a One Seaport Plaza Companion Loan shall be allocated to any Class of
Certificates.

            Section 6.8 Adjustment of Servicing Fees. The Master Servicing Fee
payable to the Master Servicer shall be adjusted as provided in Section 8.10(c)
herein. Any amount retained by REMIC I as a result of a reduction of the Master
Servicing Fee shall be treated as interest collected with respect to the prepaid
Mortgage Loans with respect to which the Master Servicing Fee adjustment occurs.

            Section 6.9 Appraisal Reductions. Not later than the date on which
an Appraisal Event occurs, the Special Servicer shall have obtained (A) an
Appraisal of the Mortgaged Property securing the related Mortgage Loan, if the
Principal Balance of such Mortgage Loan or the One Seaport Plaza Loan Pair
exceeds $2,000,000 or (B) at the option of the Special Servicer, if such
Principal Balance is less than or equal to $2,000,000, either an internal
valuation prepared by the Special Servicer or an Appraisal which in all cases
shall be completed as of the date that such Mortgage Loan or the One Seaport
Plaza Loan Pair becomes a Required Appraisal Loan; provided that if the Special
Servicer had completed or obtained an Appraisal or internal valuation within the
immediately prior 12 months, the Special Servicer may rely on such Appraisal or
internal valuation and shall have no duty to prepare a new Appraisal or internal
valuation, unless such reliance would not be in accordance with the Servicing
Standard; provided, further, that if the Special Servicer is required to obtain
an Appraisal of a Mortgaged Property after receipt of the notice described in
clause (ii) of the definition of Appraisal Event, such Appraisal will be
obtained no later than 60 days after receipt of such notice and an internal
valuation will be obtained no later than 60 days after receipt of such notice.
Such Appraisal or valuation shall be conducted in accordance with the definition
of "market value" as set forth in 12 C.F.R. ss. 225.62 and shall be updated at
least annually from the date of such Appraisal or valuation, as applicable, to
the extent such Mortgage Loan remains a Required Appraisal Loan. The cost of any
such Appraisal or valuation, if not performed by the Special Servicer, shall be
an expense of the Trust and may be paid from REO Income or, to the extent
collections from such related Mortgage Loan, Mortgaged Property or the One
Seaport Plaza Loan Pair does not cover the expense, such unpaid expense shall
be, subject to Section 4.4 hereof, advanced by the Master Servicer at the
request of the Special Servicer pursuant to Section 4.6 in which event it shall
be treated as a Servicing Advance. The Special Servicer, based on the Appraisal
or internal valuation, shall calculate any Appraisal Reduction. The Master
Servicer shall recalculate the Appraisal Reduction for any Mortgage Loan and the
One Seaport Plaza Loan Pair based on the original Appraisal or updated
Appraisals or internal valuations provided from time to time to it by the
Special Servicer. Notwithstanding the foregoing, the terms of this Section 6.9
shall not be applicable to the Woodfield Pari Passu Loan if the 2002-HQ Special
Servicer shall have performed such obligations with respect to such Mortgage
Loan pursuant to the terms of the 2002-HQ Pooling and Servicing Agreement.

            Section 6.10 Compliance with Withholding Requirements.
Notwithstanding any other provision of this Agreement to the contrary, the
Paying Agent on behalf of the Trustee shall comply with all federal withholding
requirements with respect to payments to Certificateholders of interest,
original issue discount, or other amounts that the Paying Agent reasonably
believes are applicable under the Code. The consent of Certificateholders shall
not be required for any such withholding and any amount so withheld shall be
regarded as distributed to the related Certificateholders for purposes of this
Agreement. In the event the Paying Agent withholds any amount from payments made
to any Certificateholder pursuant to federal withholding requirements, the
Paying Agent shall indicate to such Certificateholder the amount withheld. The
Trustee shall not be responsible for the Paying Agent's failure to comply with
any withholding requirements.

            Section 6.11 Prepayment Premiums. Any Prepayment Premium collected
with respect to a Mortgage Loan (but not a One Seaport Plaza Companion Loan,
which Prepayment Premium is payable to the holder of the One Seaport Plaza
Companion Loan) during any particular Collection Period will be deemed
distributed to the Trustee by the Paying Agent on the following Distribution
Date as follows: (i) first, the Paying Agent shall be deemed to distribute to
the Trustee, as holder of the REMIC I Regular Interest to which such Mortgage
Loan relates, any Prepayment Premiums collected on or with respect to such
Mortgage Loan; and (ii) second, the Paying Agent shall be deemed to distribute
to the Trustee, as holder of the REMIC II Regular Interests, any Prepayment
Premiums deemed distributed to the REMIC I Regular Interests, and shall be
deemed to distribute such Prepayment Premiums to the REMIC II Regular Interest
then entitled to distributions of principal from the Principal Distribution
Amount (or, if more than one Class of REMIC II Regular Interests is then
entitled to distributions of principal from the Principal Distribution Amount,
such Prepayment Premiums shall be deemed distributed among such Classes pro rata
in accordance with the relevant amounts of entitlements to distributions of
principal). Following such deemed distributions, the Holders of the respective
Classes of Principal Balance Certificates, other than the Class H, Class J,
Class K, Class L, Class M, Class N and Class O Certificates, then entitled to
distributions of principal from the Principal Distribution Amount for such
Distribution Date, will be entitled to, and the Paying Agent on behalf of the
Trustee will pay to such Holder(s), an amount equal to, in the case of each such
Class, the product of (a) a fraction, the numerator of which is the amount
distributed as principal to the holders of that Class on that Distribution Date,
and the denominator of which is the total amount distributed as principal to the
holders of all Classes of Certificates on that Distribution Date, (b) the Base
Interest Fraction for the related Principal Prepayment and that Class of
Certificates and (c) the aggregate amount of Prepayment Premiums collected
during the related Collection Period. If there is more than one such Class of
Principal Balance Certificates entitled to distributions of principal on such
Distribution Date, the aggregate amount described in the preceding sentence will
be allocated among such Classes on a pro rata basis in accordance with the
relative amounts of entitlement to such distributions of principal. Any portion
of such Prepayment Premium that is not so distributed to the Holders of such
Principal Balance Certificates will be distributed to the Holders of the Class X
Certificates. On or prior to the Distribution Date in May 2008, 53% of the
Prepayment Premium that is not so distributed to the Holders of such Principal
Balance Certificates will be distributed to the Holders of the Class X-1
Certificates and 47% of the Prepayment Premium that is not so distributed to the
Holders of such Principal Balance Certificates will be distributed to the
Holders of the Class X-2 Certificates. After the Distribution Date in May 2008,
any portion of such Prepayment Premium that is not so distributed to the Holders
of such Principal Balance Certificates will be distributed to the Holders of the
Class X-1 Certificates.

                                   ARTICLE VII

                  CONCERNING THE TRUSTEE, THE FISCAL AGENT AND
                                THE PAYING AGENT

            Section 7.1 Duties of the Trustee, the Fiscal Agent and the Paying
Agent. (a) The Trustee, the Fiscal Agent and the Paying Agent each shall
undertake to perform only those duties as are specifically set forth in this
Agreement and no implied covenants or obligations shall be read into this
Agreement against the Trustee, the Fiscal Agent or the Paying Agent. Any
permissive right of the Trustee, the Fiscal Agent or the Paying Agent provided
for in this Agreement shall not be construed as a duty of the Trustee, the
Fiscal Agent or the Paying Agent. The Trustee, the Fiscal Agent and the Paying
Agent each shall exercise such of the rights and powers vested in it by this
Agreement and following the occurrence and during the continuation of any Event
of Default hereunder, the Trustee, the Fiscal Agent and the Paying Agent each
shall use the same degree of care and skill in its exercise as a prudent Person
would exercise or use under the circumstances in the conduct of such Person's
own affairs.

            (b) The Trustee, the Fiscal Agent or the Paying Agent, as
applicable, upon receipt of all resolutions, certificates, statements, opinions,
reports, documents, orders or other instruments furnished to the Trustee, the
Fiscal Agent or the Paying Agent , as the case may be, which are specifically
required to be furnished pursuant to any provision of this Agreement, shall
examine them to determine whether they on their face conform to the requirements
of this Agreement; provided that the Trustee, the Fiscal Agent or the Paying
Agent, as the case may be, shall not be responsible for the accuracy or content
of any such resolution, certificate, statement, opinion, report, document, order
or other instrument furnished by the Master Servicer or any other Person to it
pursuant to this Agreement. If any such instrument is found on its face not to
conform to the requirements of this Agreement, the Trustee or the Paying Agent
shall request the providing party to correct the instrument and if not so
corrected, the Trustee shall inform the Certificateholders.

            (c) None of the Trustee, the Fiscal Agent or the Paying Agent nor
any of their respective directors, officers, employees, agents or Controlling
Persons shall have any liability to the Trust or the Certificateholders arising
out of or in connection with this Agreement, except for their respective
negligence or willful misconduct. No provision of this Agreement shall be
construed to relieve the Trustee, the Fiscal Agent, the Paying Agent or any of
their respective directors, officers, employees, agents or Controlling Persons
from liability for their own negligent action, their own negligent failure to
act or their own willful misconduct or bad faith; provided that:

            (i) none of the Trustee, the Fiscal Agent, the Paying Agent or any
      of their respective directors, officers, employees, agents or Controlling
      Persons shall be personally liable with respect to any action taken,
      suffered or omitted to be taken by it in its reasonable business judgment
      in accordance with this Agreement or at the direction of Holders of
      Certificates evidencing not less than a majority of the outstanding
      Certificate Balance of the Certificates;

            (ii) no provision of this Agreement shall require either the
      Trustee, the Fiscal Agent or the Paying Agent to expend or risk its own
      funds or otherwise incur any financial liability in the performance of any
      of its duties hereunder, or in the exercise of any of its rights or
      powers, if it shall have reasonable grounds for believing that repayment
      of such funds or adequate indemnity against such risk or liability is not
      reasonably assured to it;

            (iii) none of the Trustee, the Fiscal Agent, the Paying Agent or any
      of their respective directors, officers, employees, agents or Controlling
      Persons shall be responsible for any act or omission of the Master
      Servicer, the Special Servicer, the Depositor or either Seller, or for the
      acts or omissions of each other, including, without limitation, in
      connection with actions taken pursuant to this Agreement;

            (iv) the execution by the Trustee or the Paying Agent of any forms
      or plans of liquidation in connection with any REMIC Pool shall not
      constitute a representation by the Trustee or the Paying Agent as to the
      adequacy of such form or plan of liquidation;

            (v) none of the Trustee, the Fiscal Agent or the Paying Agent shall
      be under any obligation to appear in, prosecute or defend any legal action
      which is not incidental to its duties as Trustee, Fiscal Agent or Paying
      Agent, as applicable, in accordance with this Agreement. In such event,
      all legal expense and costs of such action shall be expenses and costs of
      the Trust, and the Trustee, the Paying Agent and the Fiscal Agent shall be
      entitled to be reimbursed therefor from the Certificate Account pursuant
      to Section 5.2(a)(vi); and

            (vi) none of the Trustee, the Fiscal Agent or the Paying Agent shall
      be charged with knowledge of any failure by the Master Servicer or the
      Special Servicer or by each other to comply with its obligations under
      this Agreement or any act, failure, or breach of any Person upon the
      occurrence of which the Trustee, the Fiscal Agent or the Paying Agent may
      be required to act, unless a Responsible Officer of the Trustee, the
      Fiscal Agent or the Paying Agent, as the case may be, obtains actual
      knowledge of such failure.

            Section 7.2 Certain Matters Affecting the Trustee, the Fiscal Agent
and the Paying Agent. (a) Except as otherwise provided in Section 7.1:

            (i) the Trustee, the Fiscal Agent and the Paying Agent each may
      request, and may rely and shall be protected in acting or refraining from
      acting upon any resolution, Officer's Certificate, certificate of auditors
      or any other certificate, statement, instrument, opinion, report, notice,
      request, consent, order, appraisal, bond or other paper or document
      believed by it to be genuine and to have been signed or presented by the
      proper party or parties;

            (ii) the Trustee, the Fiscal Agent and the Paying Agent each may
      consult with counsel and the advice of such counsel and any Opinion of
      Counsel shall be full and complete authorization and protection in respect
      of any action taken or suffered or omitted by it hereunder in good faith
      and in accordance with such advice or Opinion of Counsel;

            (iii) none of the Trustee, the Fiscal Agent, the Paying Agent or any
      of their respective directors, officers, employees, agents or Controlling
      Persons shall be personally liable for any action taken, suffered or
      omitted by such Person in its reasonable business judgment and reasonably
      believed by it to be authorized or within the discretion or rights or
      powers conferred upon it by this Agreement;

            (iv) the Trustee and the Paying Agent shall not be under any
      obligation to exercise any remedies after default as specified in this
      Agreement or to institute, conduct or defend any litigation hereunder or
      relating hereto or make any investigation into the facts or matters stated
      in any resolution, certificate, statement, instrument, opinion, report,
      notice, request, consent, order, approval, bond or other paper or document
      (provided the same appears regular on its face), unless requested in
      writing to do so by Holders of at least 25% of the Aggregate Certificate
      Balance of the Certificates then outstanding, provided that, if the
      payment within a reasonable time to the Trustee or the Paying Agent, as
      applicable, of the costs, expenses or liabilities likely to be incurred by
      it in connection with the foregoing is, in the opinion of such Person not
      reasonably assured to such Person by the security afforded to it by the
      terms of this Agreement, such Person may require reasonable indemnity
      against such expense or liability or payment of such estimated expenses as
      a condition to proceeding. The reasonable expenses of the Trustee or the
      Paying Agent, as applicable, shall be paid by the Certificateholders
      requesting such examination;

            (v) the Trustee, the Fiscal Agent and the Paying Agent each may
      execute any of the trusts or powers hereunder or perform any duties
      hereunder either directly or by or through agents or attorneys, which
      agents or attorneys shall have any or all of the rights, powers, duties
      and obligations of the Trustee, the Fiscal Agent and the Paying Agent
      conferred on them by such appointment; provided that each of the Trustee,
      the Fiscal Agent and the Paying Agent, as the case may be, shall continue
      to be responsible for its duties and obligations hereunder and shall not
      be liable for the actions or omissions of the Master Servicer, the Special
      Servicer, the Depositor or the actions or omissions of each other;

            (vi) none of the Trustee, the Fiscal Agent or the Paying Agent shall
      be required to obtain a deficiency judgment against a Mortgagor;

            (vii) none of the Trustee, the Fiscal Agent or the Paying Agent
      shall be required to expend its own funds or otherwise incur any financial
      liability in the performance of any of its duties hereunder if it shall
      have reasonable grounds for believing that repayment of such funds or
      adequate indemnity against such liability is not assured to it;

            (viii) none of the Trustee, the Fiscal Agent or the Paying Agent
      shall be liable for any loss on any investment of funds pursuant to this
      Agreement;

            (ix) unless otherwise specifically required by law, none of the
      Trustee, the Fiscal Agent or the Paying Agent shall be required to post
      any surety or bond of any kind in connection with the execution or
      performance of its duties hereunder; and

            (x) except as specifically provided hereunder in connection with the
      performance of its specific duties, none of the Trustee, the Fiscal Agent
      or the Paying Agent shall be responsible for any act or omission of the
      Master Servicer, the Special Servicer, the Depositor or of each other.

            (b) Following the Closing Date, the Trustee shall not accept any
contribution of assets to the Trust not specifically contemplated by this
Agreement unless the Trustee shall have received a Nondisqualification Opinion
at the expense of the Person desiring to contribute such assets with respect to
such contribution.

            (c) All rights of action under this Agreement or under any of the
Certificates, enforceable by the Trustee, may be enforced by it without the
possession of any of the Certificates, or the production thereof at the trial or
any proceeding relating thereto, and any such suit, action or proceeding
instituted by the Trustee shall be brought in its name for the benefit of all
the Holders of such Certificates, subject to the provisions of this Agreement.

            (d) The Trustee shall timely pay, from its own funds, the amount of
any and all federal, state and local taxes imposed on the Trust or its assets or
transactions including, without limitation, (A) "prohibited transaction" penalty
taxes as defined in Section 860F of the Code, if, when and as the same shall be
due and payable, (B) any tax on contributions to a REMIC after the Closing Date
imposed by Section 860G(d) of the Code and (C) any tax on "net income from
foreclosure property" as defined in Section 860G(c) of the Code, but only if
such taxes arise out of a breach by the Trustee of its obligations hereunder,
which breach constitutes negligence or willful misconduct of the Trustee.

            (e) The Paying Agent shall timely pay, from its own funds, the
amount of any and all federal, state and local taxes imposed on the Trust or its
assets or transactions including, without limitation, (A) "prohibited
transaction" penalty taxes as defined in Section 860F of the Code, if, when and
as the same shall be due and payable, (B) any tax on contributions to a REMIC
after the Closing Date imposed by Section 860G(d) of the Code and (C) any tax on
"net income from foreclosure property" as defined in Section 860G(c) of the
Code, but only if such taxes arise out of a breach by the Paying Agent of its
obligations hereunder, which breach constitutes negligence or willful misconduct
of the Paying Agent.

            (f) If, in connection with any Distribution Date, the Trustee or
Paying Agent has reported to the Depository the anticipated amount of the
distribution to be made to the Depository on such Distribution Date and the
timing of the receipt from the Master Servicer of any Principal Prepayment or
Balloon Payment requires modification of such anticipated amount of the
distribution to be made to the Depository, the Trustee or Paying Agent will use
commercially reasonable efforts to cause the Depository to revise the amount of
the distribution on a timely basis so that such Principal Prepayments or Balloon
Payments will be included in the Available Distribution Amount for such
Distribution Date. None of the Trustee, the Paying Agent, the Master Servicer,
the Special Servicer and the Fiscal Agent will be liable or held responsible for
any resulting delay (or claims by the Depository resulting therefrom) in the
making of such distribution to Certificateholders.

            Section 7.3 The Trustee, the Fiscal Agent and the Paying Agent Not
Liable for Certificates or Interests or Mortgage Loans. The Trustee, the Fiscal
Agent and the Paying Agent each makes no representations as to the validity or
sufficiency of this Agreement, the information contained in the Private
Placement Memorandum, the Preliminary Prospectus Supplement, the Final
Prospectus Supplement or Prospectus for the REMIC III Certificates or Residual
Certificates (other than the Certificate of Authentication on the Certificates
if the Paying Agent is the Authenticating Agent) or of any Mortgage Loan,
Assignment of Mortgage or related document save that (i) each of the Trustee,
the Fiscal Agent and the Paying Agent represents that, assuming due execution
and delivery by the other parties hereto, this Agreement has been duly
authorized, executed and delivered by it and constitutes its valid and binding
obligation, enforceable against it in accordance with its terms except that such
enforceability may be subject to (A) applicable bankruptcy and insolvency laws
and other similar laws affecting the enforcement of the rights of creditors
generally, and (B) general principles of equity regardless of whether such
enforcement is considered in a proceeding in equity or at law and (ii) the
Trustee represents that, assuming due execution and delivery by the other
parties hereto, this Agreement has been duly authorized, executed and delivered
by it and constitutes its valid and binding obligation, enforceable against it
in accordance with its terms except that such enforceability may be subject to
(A) applicable bankruptcy and insolvency laws and other similar laws affecting
the enforcement of the rights of creditors generally, and (B) general principles
of equity regardless of whether such enforcement is considered in a proceeding
in equity or at law. None of the Trustee, the Fiscal Agent or the Paying Agent
shall be accountable for the use or application by the Depositor or the Master
Servicer or the Special Servicer or by each other of any of the Certificates or
any of the proceeds of such Certificates, or for the use or application by the
Depositor or the Master Servicer or the Special Servicer or by each other of
funds paid in consideration of the assignment of the Mortgage Loans to the Trust
or deposited into the Distribution Account or any other fund or account
maintained with respect to the Certificates or any account maintained pursuant
to this Agreement or for investment of any such amounts. No recourse shall be
had for any claim based on any provisions of this Agreement, the Private
Placement Memorandum, the Preliminary Prospectus Supplement, the Final
Prospectus Supplement, the Prospectus or the Certificates (except with respect
to the Trustee, the Fiscal Agent and the Paying Agent to the extent of
information furnished by the Trustee and the Fiscal Agent under the caption
entitled "DESCRIPTION OF THE OFFERED CERTIFICATES--The Trustee, Fiscal Agent,
Paying Agent, Certificate Registrar and Authenticating Agent" in the Preliminary
Prospectus Supplement and the Final Prospectus Supplement), the Mortgage Loans
or the assignment thereof against the Trustee, the Fiscal Agent or the Paying
Agent in such Person's individual capacity and any such claim shall be asserted
solely against the Trust or any indemnitor who shall furnish indemnity as
provided herein. None of the Trustee, the Fiscal Agent or the Paying Agent shall
be liable for any action or failure of any action by the Depositor or the Master
Servicer or the Special Servicer or by each other hereunder. None of the
Trustee, the Fiscal Agent or the Paying Agent shall at any time have any
responsibility or liability for or with respect to the legality, validity or
enforceability of the Mortgages or the Mortgage Loans, or the perfection and
priority of the Mortgages or the maintenance of any such perfection and
priority, or for or with respect to the efficacy of the Trust or its ability to
generate the payments to be distributed to Certificateholders under this
Agreement, including, without limitation, the existence, condition and ownership
of any Mortgaged Property; the existence and enforceability of any hazard
insurance thereon; the validity of the assignment of the Mortgage Loans to the
Trust or of any intervening assignment; the completeness of the Mortgage Loans;
the performance or enforcement of the Mortgage Loans (other than if the Trustee
shall assume the duties of the Master Servicer); the compliance by the
Depositor, each Seller, the Mortgagor or the Master Servicer or the Special
Servicer or by each other with any warranty or representation made under this
Agreement or in any related document or the accuracy of any such warranty or
representation made under this Agreement or in any related document prior to the
receipt by a Responsible Officer of the Trustee of notice or other discovery of
any non-compliance therewith or any breach thereof; any investment of monies by
or at the direction of the Master Servicer or the Special Servicer or any loss
resulting therefrom; the failure of the Master Servicer or any Sub-Servicer or
the Special Servicer to act or perform any duties required of it on behalf of
the Trustee hereunder; or any action by the Trustee taken at the instruction of
the Master Servicer or the Special Servicer.

            Section 7.4 The Trustee, the Fiscal Agent and the Paying Agent May
Own Certificates. Each of the Trustee, the Fiscal Agent and the Paying Agent in
its individual or any other capacity may become the owner or pledgee of
Certificates with the same rights it would have if it were not the Trustee, the
Fiscal Agent or the Paying Agent, as the case may be.

            Section 7.5 Eligibility Requirements for the Trustee, the Fiscal
Agent and the Paying Agent. The Trustee and the Paying Agent hereunder shall at
all times be (i) an institution insured by the FDIC, (ii) a corporation,
national bank or national banking association authorized to exercise corporate
trust powers, having a combined capital and surplus of not less than $50,000,000
and subject to supervision or examination by federal or state authority, and
(iii) an institution whose short-term debt obligations are at all times rated
not less than "F-1" by Fitch and "A-1" by S&P and whose long-term senior
unsecured debt is at all times rated not less than "AA-" by S&P (unless a Fiscal
Agent is appointed that has a long-term unsecured rating that is at least "AA-"
by S&P) and "AA" by Fitch (unless a Fiscal Agent is appointed that has a
long-term unsecured rating that is at least "AA" by Fitch) or otherwise
acceptable to the Rating Agencies as evidenced by a Rating Agency Confirmation.
The Fiscal Agent hereunder shall at all times be (i) an institution insured by
the FDIC, (ii) a corporation, national bank or national banking association
authorized to exercise corporate trust powers, having a combined capital and
surplus of not less than $50,000,000 and subject to supervision or examination
by federal or state authority, and (iii) an institution whose short-term debt
obligations are at all times rated not less than "F-1" by Fitch and "A-1" by S&P
and whose long-term senior unsecured debt is at all times rated not less than
"AA-" by S&P and "AA-" by Fitch or otherwise acceptable to the Rating Agencies
as evidenced by a Rating Agency Confirmation. If such corporation, national bank
or national banking association publishes reports of condition at least
annually, pursuant to law or to the requirements of the aforesaid supervising or
examining authority, then, for the purposes of this Section, the combined
capital and surplus of such corporation, national bank or national banking
association shall be deemed to be its combined capital and surplus as set forth
in its most recent report of condition so published. In case at any time the
Trustee shall cease to be eligible in accordance with provisions of this
Section, the Trustee or the Fiscal Agent shall resign immediately in the manner
and with the effect specified in Section 7.6.

            The Paying Agent shall be either a bank or trust company or
otherwise authorized under law to exercise corporate trust powers and shall be
rated at least "A" by Fitch and "A" by S&P, unless and to the extent Rating
Agency Confirmation is obtained.

            Section 7.6 Resignation and Removal of the Trustee, the Fiscal Agent
or the Paying Agent. (a) The Trustee, the Fiscal Agent or the Paying Agent may
at any time resign and be discharged from the trusts hereby created by giving
written notice thereof to the Depositor, the Master Servicer and the Rating
Agencies; provided that such resignation shall not be effective until its
successor shall have accepted the appointment. Upon receiving such notice of
resignation, the Depositor will promptly appoint a successor trustee, fiscal
agent or paying agent, as the case may be, except in the case of the initial
Trustee or Fiscal Agent, in which case both shall be so replaced but may be
replaced under this paragraph sequentially, by written instrument, one copy of
which instrument shall be delivered to the resigning Trustee or the Fiscal
Agent, one copy to the successor trustee and one copy to each of the Master
Servicer, the Paying Agent and the Rating Agencies. If no successor trustee,
fiscal agent or paying agent shall have been so appointed, as the case may be,
and shall have accepted appointment within 30 days after the giving of such
notice of resignation, the resigning Trustee, the Fiscal Agent or the Paying
Agent, as the case may be, may petition any court of competent jurisdiction for
the appointment of a successor trustee, fiscal agent or paying agent, as the
case may be. It shall be a condition to the appointment of a successor trustee
or fiscal agent that such entity satisfies the eligibility requirements set
forth in Section 7.5.

            (b) If at any time (i) the Trustee shall cease to be eligible in
accordance with the provisions of Section 7.5 and shall fail to resign after
written request therefor by the Depositor, (ii) the Trustee shall become
incapable of acting, or shall be adjudged a bankrupt or insolvent, or a receiver
of the Trustee or of its property shall be appointed, or any public officer
shall take charge or control of the Trustee or of its property or affairs for
the purpose of rehabilitation, conservation or liquidation, (iii) a tax is
imposed or threatened with respect to the Trust or any REMIC Pool by any state
in which the Trustee or the Trust held by the Trustee is located solely because
of the location of the Trustee in such state; provided, however, that, if the
Trustee agrees to indemnify the Trust for such taxes, it shall not be removed
pursuant to this clause (iii), (iv) the continuation of the Trustee as such
would result in a downgrade, qualification or withdrawal of the rating by the
Rating Agencies of any Class of Certificates with a rating as evidenced in
writing by the Rating Agencies or (v) with respect with the initial Trustee, a
Fiscal Agent Termination Event has occurred unless the Trustee has satisfied the
ratings required by clause (iii) of Section 7.5, then the Depositor may remove
such Trustee and appoint a successor trustee by written instrument, one copy of
which instrument shall be delivered to the Trustee so removed, one copy to the
successor trustee and one copy to each of the Master Servicer and the Rating
Agencies. In the case of removal under clauses (i), (ii), (iii) and (iv) above,
the Trustee shall bear all such costs of transfer. Such succession shall take
effect after a successor trustee has been appointed. In the case of the removal
of the initial Trustee, the Depositor shall also remove the Fiscal Agent. In
this case, the procedures and liability for costs of such removal shall be the
same as they are stated in subsection (c) with respect to the Fiscal Agent.

            (c) If at any time (i) the Fiscal Agent shall cease to be eligible
in accordance with the provisions of Section 7.5 and shall fail to resign after
written request therefor by the Depositor, or (ii) a Fiscal Agent Termination
Event has occurred, then the Depositor shall send a written notice of
termination to the Fiscal Agent (which notice shall specify the reason for such
termination) and remove such Fiscal Agent and appoint a successor fiscal agent
by written instrument, one copy of which instrument shall be delivered to the
Fiscal Agent by written instrument, one copy of which instrument shall be
delivered to the Fiscal Agent so removed, one copy to the successor fiscal
agent, and one copy to each of the Trustee, the Master Servicer and the Rating
Agencies. In all such cases, the Fiscal Agent shall bear all costs of transfer
to a successor Fiscal Agent, such succession only to take effect after a
successor Fiscal Agent has been appointed. In the case of the initial Fiscal
Agent, the Depositor may, but is not required to, also remove the Trustee unless
the Trustee has satisfied the ratings required by clause (iii) of Section 7.5.
In this case, the procedures and liability for costs of such removal shall be
the same as they are stated in subsection (b) with respect to the Trustee.

            (d) If at any time (i) the Paying Agent shall cease to be eligible
in accordance with the provisions of Section 7.5 and shall fail to resign after
written request therefor by the Depositor, (ii) the Paying Agent shall become
incapable of acting, or shall be adjudged a bankrupt or insolvent, or a receiver
of the Paying Agent or of its property shall be appointed, or any public officer
shall take charge or control of the Paying Agent or of its property or affairs
for the purpose of rehabilitation, conservation or liquidation, (iii) a tax is
imposed or threatened with respect to the Trust or any REMIC Pool by any state
in which the Paying Agent is located solely because of the location of the
Paying Agent in such state; provided, however, that, if the Paying Agent agrees
to indemnify the Trust for such taxes, it shall not be removed pursuant to this
clause (iii), or (iv) the continuation of the Paying Agent as such would result
in a downgrade, qualification or withdrawal, as applicable, of the rating by any
Rating Agency of any Class of Certificates with a rating as evidenced in writing
by any Rating Agency, then the Depositor or the Trustee shall send a written
notice of termination to the Paying Agent (which notice shall specify the reason
for such termination) and remove such Paying Agent and the Depositor shall
appoint a successor Paying Agent by written instrument, one copy of which
instrument shall be delivered to the Paying Agent so removed, one copy to the
successor Paying Agent, and one copy to each of the Trustee, the Master Servicer
and the Rating Agencies. In all such cases, the Paying Agent shall bear all
costs of transfer to a successor Paying Agent, such succession only to take
effect after a successor Paying Agent has been appointed.

            (e) The Holders of more than 50% of the Aggregate Certificate
Balance of the Certificates then outstanding may for cause upon 30 days' written
notice to the Trustee, the Fiscal Agent or the Paying Agent, as the case may be,
and to the Depositor remove the Trustee, the Fiscal Agent or the Paying Agent,
as the case may be, by such written instrument, signed by such Holders or their
attorney-in-fact duly authorized, one copy of which instrument shall be
delivered to the Depositor and one copy to the Trustee, the Fiscal Agent or the
Paying Agent, as the case may be, so removed; the Depositor shall thereupon use
its best efforts to appoint a successor Trustee, the Fiscal Agent or the Paying
Agent, as the case may be, in accordance with this Section.

            (f) Any resignation or removal of the Trustee, the Fiscal Agent or
the Paying Agent, as the case may be, and appointment of a successor trustee,
fiscal agent or paying agent pursuant to any of the provisions of this Section
shall become effective upon acceptance of appointment by the successor trustee,
fiscal agent or paying agent, as the case may be, as provided in Section 7.7.
Upon any succession of the Trustee, the Fiscal Agent or the Paying Agent under
this Agreement, the predecessor Trustee, Fiscal Agent or Paying Agent, as the
case may be, shall be entitled to the payment of compensation and reimbursement
agreed to under this Agreement for services rendered and expenses incurred. The
Trustee, the Fiscal Agent or the Paying Agent shall not be liable for any action
or omission of any successor Trustee, the Fiscal Agent or Paying Agent, as the
case may be.

            Section 7.7 Successor Trustee, Fiscal Agent or Paying Agent. (a) Any
successor Trustee, Fiscal Agent or Paying Agent appointed as provided in Section
7.6 shall execute, acknowledge and deliver to the Depositor and to its
predecessor Trustee, Fiscal Agent or Paying Agent, as the case may be, an
instrument accepting such appointment hereunder, and thereupon the resignation
or removal of the predecessor Trustee, Fiscal Agent or Paying Agent, as the case
may be, shall become effective and such successor Trustee, Fiscal Agent or
Paying Agent, as the case may be, without any further act, deed or conveyance,
shall become fully vested with all the rights, powers, duties and obligations of
its predecessor hereunder, with like effect as if originally named as Trustee or
Paying Agent herein. The predecessor Trustee, Fiscal Agent or Paying Agent shall
deliver (at such predecessor's own expense) to the successor Trustee, Fiscal
Agent or Paying Agent all Mortgage Files and documents and statements related to
the Mortgage Files held by it hereunder, and the predecessor Trustee shall duly
assign, transfer, deliver and pay over (at such predecessor's own expense) to
the successor Trustee, the entire Trust, together with all instruments of
transfer and assignment or other documents properly executed necessary to effect
such transfer. The predecessor Trustee, Fiscal Agent or Paying Agent, as the
case may be, shall also deliver all records or copies thereof maintained by the
predecessor Trustee, Fiscal Agent or Paying Agent in the administration hereof
as may be reasonably requested by the successor Trustee, Fiscal Agent or Paying
Agent, as applicable, and shall thereupon be discharged from all duties and
responsibilities under this Agreement. In addition, the Depositor and the
predecessor Trustee, Fiscal Agent or Paying Agent shall execute and deliver such
other instruments and do such other things as may reasonably be required to more
fully and certainly vest and confirm in the successor Trustee, Fiscal Agent or
Paying Agent, as the case may be, all such rights, powers, duties and
obligations. Anything herein to the contrary notwithstanding, in no event shall
the combined fees payable to a successor Trustee exceed the Trustee Fee.

            (b) No successor Trustee, Fiscal Agent or Paying Agent shall accept
appointment as provided in this Section unless at the time of such appointment
such successor Trustee, Fiscal Agent or Paying Agent, as the case may be, shall
be eligible under the provisions of Section 7.5.

            (c) Upon acceptance of appointment by a successor Trustee, Fiscal
Agent or Paying Agent as provided in this Section, the successor Trustee, Fiscal
Agent or Paying Agent shall mail notice of the succession of such Trustee,
Fiscal Agent or Paying Agent hereunder to all Holders of Certificates at their
addresses as shown in the Certificate Register and to the Rating Agencies. The
expenses of such mailing shall be borne by the successor Trustee, Fiscal Agent
or Paying Agent. If the successor Trustee, Fiscal Agent or Paying Agent fails to
mail such notice within 10 days after acceptance of appointment by the successor
Trustee, Fiscal Agent or Paying Agent, the Master Servicer shall cause such
notice to be mailed at the expense of the successor Trustee, Fiscal Agent or
Paying Agent, as applicable.

            Section 7.8 Merger or Consolidation of Trustee, Fiscal Agent or
Paying Agent. Any Person into which the Trustee, Fiscal Agent or Paying Agent
may be merged or converted or with which it may be consolidated, or any Person
resulting from any merger, conversion or consolidation to which such Trustee,
Fiscal Agent or Paying Agent shall be a party, or any Persons succeeding to the
business of such Trustee, Fiscal Agent or Paying Agent, shall be the successor
of such Trustee, Fiscal Agent or Paying Agent, as the case may be, hereunder, as
applicable, provided that such Person shall be eligible under the provisions of
Section 7.5, without the execution or filing of any paper or any further act on
the part of any of the parties hereto, anything herein to the contrary
notwithstanding.

            Section 7.9 Appointment of Co-Trustee, Separate Trustee, Agents or
Custodian. (a) Notwithstanding any other provisions hereof, at any time, the
Trustee, the Depositor or, in the case of the Trust, the Certificateholders
evidencing more than 50% of the Aggregate Certificate Balance of the
Certificates then outstanding shall each have the power from time to time to
appoint one or more Persons to act either as co-trustees jointly with the
Trustee or as separate trustees, or as custodians, for the purpose of holding
title to, foreclosing or otherwise taking action with respect to any Mortgage
Loan outside the state where the Trustee has its principal place of business
where such separate trustee or co-trustee is necessary or advisable (or the
Trustee is advised by the Master Servicer or Special Servicer that such separate
trustee or co-trustee is necessary or advisable) under the laws of any state in
which a property securing a Mortgage Loan is located or for the purpose of
otherwise conforming to any legal requirement, restriction or condition in any
state in which a property securing a Mortgage Loan is located or in any state in
which any portion of the Trust is located. The separate trustees, co-trustees,
or custodians so appointed shall be trustees or custodians for the benefit of
all the Certificateholders, shall have such powers, rights and remedies as shall
be specified in the instrument of appointment and shall be deemed to have
accepted the provisions of this Agreement; provided that no such appointment
shall, or shall be deemed to, constitute the appointee an agent of the Trustee;
provided, further, that the Trustee shall be liable for the actions of any
co-trustee or separate trustee appointed by it and shall have no liability for
the actions of any co-trustee or separate trustee appointed by the Depositor or
the Certificateholders pursuant to this paragraph.

            (b) The Trustee or the Paying Agent, as the case may be, may from
time to time appoint one or more independent third-party agents to perform all
or any portion of its administrative duties hereunder (i.e., collection and
distribution of funds, preparation and dissemination of reports, monitoring
compliance, etc.). The Trustee or the Paying Agent, as the case may be, shall
supervise and oversee such agents appointed by it. The terms of any arrangement
or agreement between the Trustee or the Paying Agent, as the case may be, and
such agent, may be terminated, without cause and without the payment of any
termination fees in the event the Trustee or the Paying Agent, as the case may
be, is terminated in accordance with this Agreement. In addition, neither the
Trust nor the Certificateholders shall have any liability or direct obligation
to such agent. Notwithstanding the terms of any such agreement, the Trustee or
the Paying Agent, as the case may be, shall remain at all times obligated and
liable to the Trust and the Certificateholders for performing its duties
hereunder.

            (c) Every separate trustee, co-trustee, and custodian shall, to the
extent permitted by law, be appointed and act subject to the following
provisions and conditions:

            (i) all powers, duties, obligations and rights conferred upon the
      Trustee in respect of the receipt, custody and payment of moneys shall be
      exercised solely by the Trustee;

            (ii) all other rights, powers, duties and obligations conferred or
      imposed upon the Trustee shall be conferred or imposed upon and exercised
      or performed by the Trustee and such separate trustee, co-trustee, or
      custodian jointly, except to the extent that under any law of any
      jurisdiction in which any particular act or acts are to be performed
      (whether as Trustee hereunder or as successor to the Master Servicer
      hereunder) the Trustee shall be incompetent or unqualified to perform such
      act or acts, in which event such rights, powers, duties and obligations,
      including the holding of title to the Trust or any portion thereof in any
      such jurisdiction, shall be exercised and performed by such separate
      trustee, co-trustee, or custodian;

            (iii) no trustee or custodian hereunder shall be personally liable
      by reason of any act or omission of any other trustee or custodian
      hereunder; and

            (iv) the Trustee or, in the case of the Trust, the
      Certificateholders evidencing more than 50% of the Aggregate Principal
      Amount of the Certificates then outstanding may at any time accept the
      resignation of or remove any separate trustee, co-trustee or custodian, so
      appointed by it or them, if such resignation or removal does not violate
      the other terms of this Agreement.

            (d) Any notice, request or other writing given to the Trustee shall
be deemed to have been given to each of the then separate trustees and
co-trustees, as effectively as if given to each of them. Every instrument
appointing any separate trustee, co-trustee or custodian shall refer to this
Agreement and the conditions of this Article VII. Each separate trustee and
co-trustee, upon its acceptance of the trusts conferred, shall be vested with
the estates or property specified in its instrument of appointment, either
jointly with the Trustee or separately, as may be provided therein, subject to
all the provisions of this Agreement, specifically including every provision of
this Agreement relating to the conduct of, affecting the liability of, or
affording protection to, the Trustee. Every such instrument shall be filed with
the Trustee.

            (e) Any separate trustee, co-trustee or custodian may, at any time,
constitute the Trustee its agent or attorney-in-fact with full power and
authority, to the extent not prohibited by law, to do any lawful act under or in
respect of this Agreement on its behalf and in its name. If any separate
trustee, co-trustee or custodian shall die, become incapable of acting, resign
or be removed, all of its estates, properties, rights, remedies and trusts shall
vest in and be exercised by the Trustee, to the extent permitted by law, without
the appointment of a new or successor trustee.

            (f) No separate trustee, co-trustee or custodian hereunder shall be
required to meet the terms of eligibility as a successor trustee under Section
7.5 hereof and no notice to Certificateholders of the appointment of any
separate trustee, co-trustee or custodian hereunder shall be required.

            (g) The Trustee agrees to instruct the co-trustees, if any, to the
extent necessary to fulfill the Trustee's obligations hereunder.

            (h) The Trustee shall pay the reasonable compensation of the
co-trustees, separate trustees or custodians appointed by the Trustee pursuant
to this Section 7.9 to the extent, and in accordance with the standards,
specified in Section 7.12 hereof.

            (i) Subject to the consent of the Depositor, which consent shall not
be unreasonably withheld, the Trustee, at its sole cost and expense, may appoint
at any time a successor Custodian. Until such time as the Trustee appoints a
successor Custodian, the Trustee shall be the Custodian hereunder. Upon the
appointment of a successor custodian, the Trustee and the Custodian shall enter
into a custodial agreement.

            Section 7.10 Authenticating Agents. (a) The Paying Agent shall serve
as the initial Authenticating Agent hereunder for the purpose of executing and
authenticating Certificates. Any successor Authenticating Agent must be
acceptable to the Depositor and must be a corporation or national bank organized
and doing business under the laws of the United States of America or of any
state and having a principal office and place of business in the Borough of
Manhattan in the City and State of New York, having a combined capital and
surplus of at least $50,000,000, authorized under such laws to do a trust
business and subject to supervision or examination by federal or state
authorities.

            (b) Any Person into which the Authenticating Agent may be merged or
converted or with which it may be consolidated, or any Person resulting from any
merger, conversion or consolidation to which the Authenticating Agent shall be a
party, or any Person succeeding to the corporate agency business of the
Authenticating Agent, shall continue to be the Authenticating Agent without the
execution or filing of any paper or any further act on the part of the Trustee
or the Authenticating Agent.

            (c) The Authenticating Agent may at any time resign by giving at
least 30 days' advance written notice of resignation to the Trustee and the
Depositor. The Trustee may at any time terminate the agency of the
Authenticating Agent by giving written notice of termination to the
Authenticating Agent and the Depositor; provided that the Trustee may not
terminate the Paying Agent as Authenticating Agent unless the Paying Agent shall
be removed as Paying Agent hereunder. Upon receiving a notice of resignation or
upon such a termination, or in case at any time the Authenticating Agent shall
cease to be eligible in accordance with the provisions of Section 7.10(a), the
Trustee may appoint a successor Authenticating Agent, shall give written notice
of such appointment to the Depositor and shall mail notice of such appointment
to all Holders of Certificates. Any successor Authenticating Agent upon
acceptance of its appointment hereunder shall become vested with all the rights,
powers, duties and responsibilities of its predecessor hereunder, with like
effect as if originally named as Authenticating Agent. No such Authenticating
Agent shall be appointed unless eligible under the provisions of Section
7.10(a). No Authenticating Agent shall have responsibility or liability for any
action taken by it as such at the direction of the Trustee.

            Section 7.11 Indemnification of Trustee, the Fiscal Agent and the
Paying Agent. (a) The Trustee, the Certificate Registrar and the Paying Agent
and each of its respective directors, officers, employees, agents and
Controlling Persons shall be entitled to indemnification from the Trust for any
and all claims, losses, penalties, fines, forfeitures, legal fees and related
costs, judgments and any other costs, liabilities, fees and expenses incurred in
connection with any legal action incurred without negligence or willful
misconduct on their respective part, arising out of, or in connection with this
Agreement, the Certificates and the acceptance or administration of the trusts
or duties created hereunder (including, without limitation, any unanticipated
loss, liability or expense incurred in connection with any action or inaction of
the Master Servicer, the Special Servicer or the Depositor or of each other such
Person hereunder but only to the extent the Trustee, the Fiscal Agent, the
Certificate Registrar or the Paying Agent, as the case may be, is unable to
recover within a reasonable period of time such amount from such third party
pursuant to this Agreement) including the costs and expenses of defending
themselves against any claim in connection with the exercise or performance of
any of their powers or duties hereunder and the Trustee, the Fiscal Agent, the
Certificate Registrar and the Paying Agent and each of their respective
directors, officers, employees, agents and Controlling Persons shall be entitled
to indemnification from the Trust for any unanticipated loss, liability or
expense incurred in connection with the provision by the Trustee, the Fiscal
Agent, the Certificate Registrar and the Paying Agent of the reports required to
be provided by it pursuant to this Agreement; provided that:

            (i) with respect to any such claim, the Trustee, the Fiscal Agent,
      the Certificate Registrar or the Paying Agent, as the case may be, shall
      have given the Depositor, the Master Servicer, the Sellers, each other and
      the Holders of the Certificates written notice thereof promptly after a
      Responsible Officer of the Trustee, the Fiscal Agent, the Certificate
      Registrar or the Paying Agent, as the case may be, shall have knowledge
      thereof; provided, however, that failure to give such notice to the
      Depositor, Master Servicer, the Sellers, each other and the Holders of
      Certificates shall not affect the Trustee's, Fiscal Agent's, Certificate
      Registrar's or Paying Agent's, as the case may be, rights to
      indemnification herein unless the Depositor's defense of such claim on
      behalf of the Trust is materially prejudiced thereby;

            (ii) while maintaining control over its own defense, the Trustee,
      the Fiscal Agent, the Certificate Registrar or the Paying Agent, as the
      case may be, shall cooperate and consult fully with the Depositor in
      preparing such defense; and

            (iii) notwithstanding anything to the contrary in this Section 7.11,
      the Trust shall not be liable for settlement of any such claim by the
      Trustee, the Fiscal Agent, the Certificate Registrar or the Paying Agent,
      as the case may be, entered into without the prior consent of the
      Depositor, which consent shall not be unreasonably withheld.

            (b) The provisions of this Section 7.11 shall survive any
termination of this Agreement and the resignation or removal of the Trustee, the
Fiscal Agent, the Certificate Registrar or the Paying Agent, as the case may be.

            (c) The Depositor shall indemnify and hold harmless the Trustee, the
Fiscal Agent, the Certificate Registrar or the Paying Agent, as the case may be,
their respective directors, officers, employees or agents and Controlling
Persons from and against any loss, claim, damage or liability, joint or several,
and any action in respect thereof, to which the Trustee, the Fiscal Agent, the
Certificate Registrar or the Paying Agent, as the case may be, their respective
directors, officers, employees or agents or Controlling Person may become
subject under the 1933 Act, insofar as such loss, claim, damage, liability or
action arises out of, or is based upon any untrue statement or alleged untrue
statement of a material fact contained in the Private Placement Memorandum, the
Preliminary Prospectus Supplement, the Final Prospectus Supplement or the
Prospectus, or arises out of, or is based upon the omission or alleged omission
to state therein a material fact required to be stated therein or necessary to
make the statements therein in light of the circumstances under which they were
made, not misleading and shall reimburse the Trustee, the Fiscal Agent, the
Certificate Registrar or the Paying Agent, as the case may be, their respective
directors, officers, employees, agents or Controlling Person for any legal and
other expenses reasonably incurred by the Trustee, the Fiscal Agent, the
Certificate Registrar or the Paying Agent, as the case may be, or any such
director, officer, employee, agent or Controlling Person in investigating or
defending or preparing to defend against any such loss, claim, damage, liability
or action; provided that the Depositor shall not be liable in any such case to
the extent that any such loss, claim, damage, liability or action arises out of,
or is based upon, any untrue statement or alleged untrue statement or omission
made in any such Private Placement Memorandum, Preliminary Prospectus
Supplement, Final Prospectus Supplement or Prospectus in reliance upon and in
conformity with written information concerning the Trustee, the Fiscal Agent,
the Certificate Registrar or the Paying Agent, as the case may be, furnished to
the Depositor by or on behalf of such person specifically for inclusion therein.
It is hereby expressly agreed that the only written information provided by the
Trustee, the Fiscal Agent, the Certificate Registrar or the Paying Agent, as the
case may be, for inclusion in the Preliminary Prospectus Supplement and Final
Prospectus Supplement is set forth in the case of the Trustee in the second,
fourth and fifth sentences and in the case of the Fiscal Agent in the
penultimate sentence under the caption entitled "DESCRIPTION OF THE OFFERED
CERTIFICATES--The Trustee, Fiscal Agent, Paying Agent, Certificate Registrar and
Authenticating Agent". The Trustee, the Fiscal Agent, the Certificate Registrar
or the Paying Agent, as the case may be, shall immediately notify the Depositor
and the Sellers if a claim is made by a third party with respect to this Section
7.11(c) entitling such person, its directors, officers, employees, agents or
Controlling Person to indemnification hereunder, whereupon the Depositor shall
assume the defense of any such claim (with counsel reasonably satisfactory to
such person) and pay all expenses in connection therewith, including counsel
fees, and promptly pay, discharge and satisfy any judgment or decree which may
be entered against it or them in respect of such claim. Any failure to so notify
the Depositor shall not affect any rights the Trustee, the Fiscal Agent, the
Certificate Registrar or the Paying Agent, as the case may be, their respective
directors, officers, employees, agents or Controlling Person may have to
indemnification under this Section 7.11(c), unless the Depositor's defense of
such claim is materially prejudiced thereby. The indemnification provided herein
shall survive the termination of this Agreement and the resignation or removal
of the Trustee, the Fiscal Agent or the Paying Agent. The Depositor shall not be
indemnified by the Trust for any expenses incurred by the Depositor arising from
any violation or alleged violation of the 1933 Act or 1934 Act by the Depositor.

            Section 7.12 Fees and Expenses of Trustee, the Fiscal Agent and the
Paying Agent. The Trustee shall be entitled to receive the Trustee Fee (other
than the portion thereof constituting the Paying Agent Fee) and the Paying Agent
shall be entitled to receive the Paying Agent Fee, pursuant to Section
5.3(b)(ii) (which shall not be limited by any provision of law with respect to
the compensation of a trustee of an express trust), for all services rendered by
it in the execution of the trusts hereby created and in the exercise and
performance of any of the powers and duties respectively, hereunder of the
Trustee and the Paying Agent. The Trustee, the Fiscal Agent and the Paying Agent
shall also be entitled to recover from the Trust all reasonable unanticipated
expenses and disbursements incurred or made by the Trustee, the Fiscal Agent and
the Paying Agent in accordance with any of the provisions of this Agreement
(including the reasonable compensation and the reasonable expenses and
disbursements of its counsel and other Persons not regularly in its employ), not
including expenses incurred in the ordinary course of performing its duties as
Trustee, the Fiscal Agent or Paying Agent, respectively, hereunder, and except
any such expense, disbursement or advance as may arise from the negligence or
bad faith of such Person or which is the responsibility of the Holders of the
Certificates hereunder. The provisions of this Section 7.12 shall survive any
termination of this Agreement and the resignation or removal of the Trustee, the
Fiscal Agent or the Paying Agent.

            Section 7.13 Collection of Moneys. Except as otherwise expressly
provided in this Agreement, the Trustee and the Paying Agent may demand payment
or delivery of, and shall receive and collect, all money and other property
payable to or receivable by the Trustee or the Paying Agent, as the case may be,
pursuant to this Agreement. The Trustee or the Paying Agent, as the case may be,
shall hold all such money and property received by it as part of the Trust and
shall distribute it as provided in this Agreement. If the Trustee or the Paying
Agent, as the case may be, shall not have timely received amounts to be remitted
with respect to the Mortgage Loans from the Master Servicer, the Trustee or the
Paying Agent, as the case may be, shall request the Master Servicer to make such
distribution as promptly as practicable or legally permitted. If the Trustee or
the Paying Agent, as the case may be, shall subsequently receive any such
amount, it may withdraw such request.

            Section 7.14 Trustee To Act; Appointment of Successor. (a) On and
after the time the Master Servicer is terminated pursuant to this Agreement in
accordance with Sections 8.28 and 8.29, the Trustee shall be the successor in
all respects to the Master Servicer in its capacity under this Agreement and the
transactions set forth or provided for therein and shall have all the rights and
powers and be subject to all the responsibilities, duties and liabilities
relating thereto and arising thereafter placed on the Master Servicer by the
terms and provisions of this Agreement; provided that, any failure to perform
such duties or responsibilities caused by the Master Servicer's failure to
provide required information shall not be considered a default by the Trustee
hereunder. In addition, the Trustee shall have no liability relating to (i) the
representations and warranties of the Master Servicer contained in this
Agreement or (ii) any obligation incurred by the Master Servicer prior to its
termination or resignation (including, without limitation, the Master Servicer's
obligation to repay losses resulting from the investment of funds in any account
established under this Agreement), except any ongoing obligations to the Primary
Servicers arising after the termination of the Master Servicer from their
servicing rights and obligations under the applicable Primary Servicing
Agreement. In the Trustee's capacity as such successor, the Trustee shall have
the same limitations on liability granted to the Master Servicer in this
Agreement. As compensation therefor, the Trustee shall be entitled to receive
all the compensation payable to the Master Servicer set forth in this Agreement,
including, without limitation, the Master Servicing Fee.

            (b) Notwithstanding the above, the Trustee (A) may, if the Trustee
is unwilling to so act, or (B) shall, if it is unable to so act, appoint, or
petition a court of competent jurisdiction to appoint any established commercial
or multifamily mortgage finance institution, servicer or special servicer or
mortgage servicing institution having a net worth of not less than $15,000,000,
meeting such other standards for a successor servicer as are set forth in this
Agreement and with respect to which Rating Agency Confirmation is obtained, as
the successor to the Master Servicer hereunder in the assumption of all of the
responsibilities, duties or liabilities of a servicer as Master Servicer
hereunder. Pending any such appointment, the Trustee shall act in such capacity
as hereinabove provided. Any entity designated by the Trustee as successor
Master Servicer may be an Affiliate of the Trustee; provided that such Affiliate
must meet the standards for the Master Servicer as set forth herein. In
connection with such appointment and assumption, the Trustee may make such
arrangements for the compensation of such successor out of payments on Mortgage
Loans as it and such successor shall agree subject to Section 8.10. The Trustee
and such successor shall take such actions, consistent with this Agreement as
shall be necessary to effectuate any such succession. The Master Servicer shall
cooperate with the Trustee and any successor servicer in effecting the
termination of the Master Servicer's responsibilities and rights under this
Agreement, including, without limitation, notifying Mortgagors of the assignment
of the servicing function and providing the Trustee and successor servicer all
documents and records in its possession in electronic or other form reasonably
requested by the successor servicer to enable the successor servicer to assume
the Master Servicer's functions hereunder and the transfer to the Trustee or
such successor servicer of all amounts which shall at the time be or should have
been deposited by the Master Servicer in the Certificate Account and any other
account or fund maintained with respect to the Certificates or thereafter be
received by the Master Servicer with respect to the Mortgage Loans. Neither the
Trustee nor any other successor servicer shall be deemed to be in default
hereunder by reason of any failure to make, or any delay in making, any
distribution hereunder or any portion thereof caused by (i) the failure of the
Master Servicer to deliver, or any delay in delivering, cash, documents or
records to it, or (ii) restrictions imposed by any regulatory authority having
jurisdiction over the Master Servicer. The Trustee shall be reimbursed for all
of its out-of-pocket expenses incurred in connection with obtaining such
successor Master Servicer by the Trust within 30 days of the Trustee's
submission of an invoice with respect thereto, to the extent such expenses have
not been reimbursed by the Master Servicer as provided herein; such expenses
paid by the Trust shall be deemed to be an Additional Trust Expense.

            (c) On and after the time the Special Servicer is terminated
pursuant to this Agreement, in accordance with Section 9.30, the Trustee shall
be the successor in all respects to the Special Servicer in its capacity under
this Agreement and the transactions set forth or provided for therein and shall
have all the rights and powers and be subject to all the responsibilities,
duties and liabilities relating thereto and arising thereafter placed on the
Special Servicer by the terms and provisions of this Agreement; provided that,
any failure to perform such duties or responsibilities caused by the Special
Servicer's failure to provide required information shall not be considered a
default by the Trustee hereunder. In addition, the Trustee shall have no
liability relating to (i) the representations and warranties of the Special
Servicer contained in this Agreement or (ii) any obligation incurred by the
Special Servicer prior to its termination or resignation. In the Trustee's
capacity as such successor, the Trustee shall have the same limitations on
liability granted to the Special Servicer in this Agreement. As compensation
therefor, the Trustee shall be entitled to receive all the compensation payable
to the Special Servicer set forth in this Agreement, including, without
limitation the Special Servicer Compensation.

            (d) Notwithstanding the above, the Trustee may, if the Trustee shall
be unwilling to so act, or shall, if it is unable to so act, appoint, or
petition a court of competent jurisdiction to appoint, any established
commercial or multifamily mortgage finance institution, special servicer or
mortgage servicing institution having a net worth of not less than $15,000,000,
and meeting such other standards for a successor Special Servicer as are set
forth in Section 9.21, and with respect to which Rating Agency Confirmation is
obtained, as the successor to the Special Servicer hereunder in the assumption
of all of the responsibilities, duties or liabilities of a special servicer as
Special Servicer hereunder. Pending any such appointment, the Trustee shall act
in such capacity as hereinabove provided. Any entity designated by the Trustee
as successor Special Servicer may be an Affiliate of the Trustee; provided that
such Affiliate must meet the standards for a successor Special Servicer set
forth herein. In connection with such appointment and assumption, the Trustee
may make such arrangements for the compensation of such successor out of
payments on Mortgage Loans as it and such successor shall agree; provided that
no such compensation shall be in excess of that permitted to the Special
Servicer under this Agreement. The Trustee and such successor shall take such
actions, consistent with this Agreement as shall be necessary to effectuate any
such succession. The Special Servicer shall cooperate with the Trustee and any
successor Special Servicer in effecting the termination of the Special
Servicer's responsibilities and rights under this Agreement, including, without
limitation, notifying Mortgagors of Specially Serviced Mortgage Loans of the
assignment of the special servicing function and providing the Trustee and
successor Special Servicer all documents and records in its possession in
electronic or other form reasonably requested by the successor Special Servicer
to enable the successor Special Servicer to assume the Special Servicer's
functions hereunder and the transfer to the Trustee or such successor Special
Servicer of all amounts which shall at the time be or should have been deposited
by the Special Servicer in the Certificate Account and any other account or fund
maintained with respect to the Certificates or thereafter be received by the
Special Servicer with respect to the Mortgage Loans. Neither the Trustee nor any
other successor Special Servicer shall be deemed to be in default hereunder by
reason of any failure to make, or any delay in making, any distribution
hereunder or any portion thereof caused by (i) the failure of the Special
Servicer to deliver, or any delay in delivering, cash, documents or records to
it, or (ii) restrictions imposed by any regulatory authority having jurisdiction
over the Special Servicer. The Trustee shall be reimbursed for all of its
out-of-pocket expenses incurred in connection with obtaining such successor
Special Servicer by the Trust within 30 days of submission of an invoice with
respect thereto but only to the extent such expenses have not been reimbursed by
the Special Servicer as provided herein; and such expenses paid by the Trust
shall be deemed to be an Additional Trust Expense.

            Section 7.15 Notification to Holders. Upon termination of the Master
Servicer, the Paying Agent or the Special Servicer, or appointment of a
successor to the Master Servicer, the Paying Agent or the Special Servicer, the
Trustee shall promptly mail notice thereof by first class mail to the Rating
Agencies, the Operating Adviser (and the One Seaport Plaza Operating Adviser, if
any), the Sellers and the Certificateholders at their respective addresses
appearing on the Certificate Register.

            Section 7.16 Representations and Warranties of the Trustee, the
Fiscal Agent and the Paying Agent. (a) The Trustee hereby represents and
warrants as of the date hereof that:

            (i) the Trustee is a national banking association, duly organized,
      validly existing and in good standing under the laws governing its
      creation and existence and has full power and authority to own its
      property, to carry on its business as presently conducted, and to enter
      into and perform its obligations under this Agreement;

            (ii) the execution and delivery by the Trustee of this Agreement
      have been duly authorized by all necessary action on the part of the
      Trustee; neither the execution and delivery of this Agreement, nor the
      consummation of the transactions contemplated in this Agreement, nor
      compliance with the provisions of this Agreement, will conflict with or
      result in a breach of, or constitute a default under, (i) any of the
      provisions of any law, governmental rule, regulation, judgment, decree or
      order binding on the Trustee or its properties that would materially and
      adversely affect the Trustee's ability to perform its obligations under
      this Agreement, (ii) the organizational documents of the Trustee, or (iii)
      the terms of any material agreement or instrument to which the Trustee is
      a party or by which it is bound; the Trustee is not in default with
      respect to any order or decree of any court or any order, regulation or
      demand of any federal, state, municipal or other governmental agency,
      which default would materially and adversely affect its performance under
      this Agreement;

            (iii) the execution, delivery and performance by the Trustee of this
      Agreement and the consummation of the transactions contemplated by this
      Agreement do not require the consent, approval, authorization or order of,
      the giving of notice to or the registration with any state, federal or
      other governmental authority or agency, except such as has been or will be
      obtained, given, effected or taken in order for the Trustee to perform its
      obligations under this Agreement;

            (iv) this Agreement has been duly executed and delivered by the
      Trustee and, assuming due authorization, execution and delivery by the
      other parties hereto, constitutes a valid and binding obligation of the
      Trustee, enforceable against the Trustee in accordance with its terms,
      subject, as to enforcement of remedies, to applicable bankruptcy,
      reorganization, insolvency, moratorium and other similar laws affecting
      creditors' rights generally as from time to time in effect, and to general
      principles of equity (regardless of whether such enforceability is
      considered in a proceeding in equity or at law); and

            (v) no litigation is pending or, to the Trustee's knowledge,
      threatened, against the Trustee that, either in one instance or in the
      aggregate, would draw into question the validity of this Agreement, or
      which would be likely to impair materially the ability of the Trustee to
      perform under the terms of this Agreement.

            (b) The Fiscal Agent hereby represents and warrants as of the date
hereof that:

            (i) the Fiscal Agent is a foreign banking corporation duly
      organized, validly existing and in good standing under the laws governing
      its creation and existence and has full corporate power and authority to
      own its property, to carry on its business as presently conducted, and to
      enter into and perform its obligations under this Agreement;

            (ii) the execution and delivery by the Fiscal Agent of this
      Agreement have been duly authorized by all necessary corporate action on
      the part of the Fiscal Agent; neither the execution and delivery of this
      Agreement, nor the consummation of the transactions contemplated in this
      Agreement, nor compliance with the provisions of this Agreement, will
      conflict with or result in a breach of, or constitute a default under, (i)
      any of the provisions of any law, governmental rule, regulation, judgment,
      decree or order binding on the Fiscal Agent or its properties that would
      materially and adversely affect the Fiscal Agent's ability to perform its
      obligations under this Agreement, (ii) the organizational documents of the
      Fiscal Agent, or (iii) the terms of any material agreement or instrument
      to which the Fiscal Agent is a party or by which it is bound; the Fiscal
      Agent is not in default with respect to any order or decree of any court
      or any order, regulation or demand of any federal, state, municipal or
      other governmental agency, which default would materially and adversely
      affect its performance under this Agreement;

            (iii) the execution, delivery and performance by the Fiscal Agent of
      this Agreement and the consummation of the transactions contemplated by
      this Agreement do not require the consent, approval, authorization or
      order of, the giving of notice to, or the registration with, any state,
      federal or other governmental authority or agency, except such as has been
      obtained, given, effected or taken prior to the date hereof;

            (iv) this Agreement has been duly executed and delivered by the
      Fiscal Agent and, assuming due authorization, execution and delivery by
      the other parties hereto, constitutes a valid and binding obligation of
      the Fiscal Agent, enforceable against the Fiscal Agent in accordance with
      its terms, subject, as to enforcement of remedies, to applicable
      bankruptcy, reorganization, insolvency, moratorium and other similar laws
      affecting creditors' rights generally as from time to time in effect, and
      to general principles of equity (regardless of whether such enforceability
      is considered in a proceeding in equity or at law); and

            (v) no litigation is pending or, to the Fiscal Agent's knowledge,
      threatened, against the Fiscal Agent that, either in any one instance or
      in the aggregate, would draw into question the validity of this Agreement,
      or which would be likely to impair materially the ability of the Fiscal
      Agent to perform under the terms of this Agreement.

            (c) The Paying Agent hereby represents and warrants as of the date
hereof that:

            (i) the Paying Agent is a national banking association, duly
      organized, validly existing and in good standing under the laws governing
      its creation and existence and has full power and authority to own its
      property, to carry on its business as presently conducted, and to enter
      into and perform its obligations under this Agreement;

            (ii) the execution and delivery by the Paying Agent of this
      Agreement have been duly authorized by all necessary action on the part of
      the Paying Agent; neither the execution and delivery of this Agreement,
      nor the consummation of the transactions contemplated in this Agreement,
      nor compliance with the provisions of this Agreement, will conflict with
      or result in a breach of, or constitute a default under, (i) any of the
      provisions of any law, governmental rule, regulation, judgment, decree or
      order binding on the Paying Agent or its properties that would materially
      and adversely affect the Paying Agent's ability to perform its obligations
      under this Agreement, (ii) the organizational documents of the Paying
      Agent, or (iii) the terms of any material agreement or instrument to which
      the Paying Agent is a party or by which it is bound; the Paying Agent is
      not in default with respect to any order or decree of any court or any
      order, regulation or demand of any federal, state, municipal or other
      governmental agency, which default would materially and adversely affect
      its performance under this Agreement;

            (iii) the execution, delivery and performance by the Paying Agent of
      this Agreement and the consummation of the transactions contemplated by
      this Agreement do not require the consent, approval, authorization or
      order of, the giving of notice to or the registration with any state,
      federal or other governmental authority or agency, except such as has been
      or will be obtained, given, effected or taken in order for the Paying
      Agent to perform its obligations under this Agreement;

            (iv) this Agreement has been duly executed and delivered by the
      Paying Agent and, assuming due authorization, execution and delivery by
      the other parties hereto, constitutes a valid and binding obligation of
      the Paying Agent, enforceable against the Paying Agent in accordance with
      its terms, subject, as to enforcement of remedies, to applicable
      bankruptcy, reorganization, insolvency, moratorium and other similar laws
      affecting creditors' rights generally as from time to time in effect, and
      to general principles of equity (regardless of whether such enforceability
      is considered in a proceeding in equity or at law); and

            (v) there are no actions, suits or proceeding pending or, to the
      best of the Paying Agent's knowledge, threatened, against the Paying Agent
      that, either in one instance or in the aggregate, would draw into question
      the validity of this Agreement, or which would be likely to impair
      materially the ability of the Paying Agent to perform under the terms of
      this Agreement.

            Section 7.17 Fidelity Bond and Errors and Omissions Insurance Policy
Maintained by the Trustee, the Fiscal Agent and the Paying Agent. Each of the
Trustee, the Fiscal Agent and the Paying Agent, at its own respective expense,
shall maintain in effect a Fidelity Bond and a Errors and Omissions Insurance
Policy. The Errors and Omissions Insurance Policy and Fidelity Bond shall be
issued by a Qualified Insurer in form and in amount customary for trustees,
fiscal agents or paying agents in similar transactions (unless the Trustee, the
Fiscal Agent or the Paying Agent, as the case may be, self insures as provided
below). In the event that any such Errors and Omissions Insurance Policy or
Fidelity Bond ceases to be in effect, the Trustee, the Fiscal Agent or the
Paying Agent, as the case may be, shall obtain a comparable replacement policy
or bond from an insurer or issuer meeting the requirements set forth above as of
the date of such replacement. So long as the long-term debt rating of the
Trustee, the Fiscal Agent or the Paying Agent, as the case may be, is not less
than "A" as rated by Fitch, if rated by Fitch and "A" as rated by S&P, if rated
by S&P, the Trustee, the Fiscal Agent or the Paying Agent, as the case may be,
may self-insure for the Fidelity Bond and the Errors and Omissions Insurance
Policy.

                                  ARTICLE VIII

                 ADMINISTRATION AND SERVICING OF MORTGAGE LOANS

            Section 8.1 Servicing Standard; Servicing Duties. (a) Subject to the
express provisions of this Agreement, for and on behalf of the Trust and for the
benefit of the Certificateholders as a whole and, solely as it relates to the
One Seaport Plaza Loan Pair, for the benefit of the holder of the One Seaport
Plaza Companion Loan, the Master Servicer shall service and administer the
Mortgage Loans and any One Seaport Plaza Companion Loan in accordance with the
Servicing Standard and the terms of this Agreement (subject to the servicing of
the Woodfield Pari Passu Loan by the 2002-HQ Master Servicer and the 2002-HQ
Special Servicer in accordance with the 2002-HQ Pooling and Servicing
Agreement). Certain of the provisions of this Article VIII make explicit
reference to their applicability to Mortgage Loans and any One Seaport Plaza
Companion Loan; notwithstanding such explicit references, references to
"Mortgage Loans" contained in this Article VIII, unless otherwise specified,
shall be construed to refer also to such One Seaport Plaza Companion Loan (but
any other terms that are defined in Article I and used in this Article VIII
shall be construed according to such definitions without regard to this
sentence).

            In connection with such servicing and administration, the Master
Servicer shall seek to maximize the timely recovery of principal and interest on
the Mortgage Notes in the best economic interests of the Certificateholders as a
whole (or, in the case of the One Seaport Plaza Loan Pair, the
Certificateholders and the holder of the related One Seaport Plaza Companion
Loan, all taken as a collective whole); provided, however, that nothing herein
contained shall be construed as an express or implied guarantee by the Master
Servicer of the collectability of payments on the Mortgage Loans or shall be
construed as impairing or adversely affecting any rights or benefits
specifically provided by this Agreement to the Master Servicer, including with
respect to Master Servicing Fees or the right to be reimbursed for Advances.

            (b) The Master Servicer, in the case of an event specified in clause
(x) of this subclause (b), and the Special Servicer, in the case of an event
specified in clause (y) of this subclause (b), shall each send a written notice
to the other and to the Trustee and the Paying Agent, the Operating Adviser
(and, solely with respect to the One Seaport Plaza Pari Passu Loan, the One
Seaport Plaza Operating Adviser, if any), each Seller and, in the case of the
One Seaport Plaza Loan Pair, the holder of the related One Seaport Plaza
Companion Loan, within two Business Days after becoming aware (x) that a
Servicing Transfer Event has occurred with respect to a Mortgage Loan or (y)
that a Mortgage Loan has become a Rehabilitated Mortgage Loan, which notice
shall identify the applicable Mortgage Loan and, in the case of an event
specified in clause (x) of this subclause (b) above, the Servicing Transfer
Event that occurred.

            (c) With respect to each Mortgage Loan that is subject to an
Environmental Insurance Policy, for as long as it is not a Specially Serviced
Mortgage Loan, if any of the Master Servicer, the Special Servicer or the
applicable Primary Servicer has actual knowledge of any event giving rise to a
claim under an Environmental Insurance Policy, such Person shall notify the
Master Servicer, the Special Servicer and the related Primary Servicer, as
applicable, to such effect and the Master Servicer shall take reasonable actions
as are in accordance with the Servicing Standard and the terms and conditions of
such Environmental Insurance Policy to make a claim thereunder and achieve the
payment of all amounts to which the Trust is entitled thereunder. Any legal fees
or other out-of-pocket costs incurred in accordance with the Servicing Standard
in connection with any such claim shall be paid by, and reimbursable to, the
Master Servicer as a Servicing Advance.

            (d) In connection with any extension of the Maturity Date of a
Mortgage Loan, the Master Servicer shall give prompt written notice of such
extension to the insurer under the Environmental Insurance Policy and shall
execute such documents as are reasonably required by such insurer to procure an
extension of such policy (if available).

            Section 8.2 Fidelity Bond and Errors and Omissions Insurance Policy
Maintained by the Master Servicer. The Master Servicer, at its expense, shall
maintain in effect a Servicer Fidelity Bond and a Servicer Errors and Omissions
Insurance Policy. The Servicer Errors and Omissions Insurance Policy and
Servicer Fidelity Bond shall be issued by a Qualified Insurer (unless the Master
Servicer self insures as provided below) and be in form and amount consistent
with the Servicing Standard. In the event that any such Servicer Errors and
Omissions Insurance Policy or Servicer Fidelity Bond ceases to be in effect, the
Master Servicer shall obtain a comparable replacement policy or bond from an
insurer or issuer meeting the requirements set forth above as of the date of
such replacement. So long as the long-term rating of the Master Servicer is not
in any event less than "A" as rated by Fitch and "BBB" as rated by S&P,
respectively, the Master Servicer may self-insure for the Servicer Fidelity Bond
and the Servicer Errors and Omissions Insurance Policy.

            Section 8.3 Master Servicer's General Power and Duties. (a) The
Master Servicer shall service and administer the Mortgage Loans and shall,
subject to Sections 8.7, 8.18, 8.19, 8.27 and Article XII hereof and as
otherwise provided herein and by the Code, have full power and authority to do
any and all things which it may deem necessary or desirable in connection with
such servicing and administration in accordance with the Servicing Standard. To
the extent consistent with the foregoing and subject to any express limitations
and provisions set forth in this Agreement (and, in the case of the One Seaport
Plaza Loan Pair, subject to the One Seaport Plaza Intercreditor Agreement and,
in the case of the Woodfield Pari Passu Loan, subject to the servicing of the
Woodfield Pari Passu Loan by the 2002-HQ Master Servicer and the 2002-HQ Special
Servicer), such power and authority shall include, without limitation, the
right, subject to the terms hereof, (A) to execute and deliver, on behalf of the
Certificateholders (and, in connection with the One Seaport Plaza Loan Pair, the
holder of the One Seaport Plaza Companion Loan) and the Trustee, customary
consents or waivers and other instruments and documents (including, without
limitation, estoppel certificates, financing statements, continuation
statements, title endorsements and reports and other documents and instruments
necessary to preserve and maintain the lien on the related Mortgaged Property
and related collateral), (B) to consent to assignments and assumptions or
substitutions, and transfers of interest of any Mortgagor, in each case subject
to and in accordance with the terms of the related Mortgage Loan and Section
8.7, (C) to collect any Insurance Proceeds, (D) subject to Section 8.7, to
consent to any subordinate financings to be secured by any related Mortgaged
Property to the extent that such consent is required pursuant to the terms of
the related Mortgage or which otherwise is required, and, subject to Section
8.7, to consent to any mezzanine debt to the extent such consent is required
pursuant to the terms of the related Mortgage; (E) to consent to the application
of any proceeds of insurance policies or condemnation awards to the restoration
of the related Mortgaged Property or otherwise and to administer and monitor the
application of such proceeds and awards in accordance with the terms of the
Mortgage Loan as the Master Servicer deems reasonable under the circumstances,
(F) to execute and deliver, on behalf of the Certificateholders (and, if
applicable, the holder of the One Seaport Plaza Companion Loan) and the Trustee,
documents relating to the management, operation, maintenance, repair, leasing
and marketing of the related Mortgaged Properties, including agreements and
requests by the Mortgagor with respect to modifications of the standards of
operation and management of the Mortgaged Properties or the replacement of asset
managers, (G) to consent to any operation or action under a Mortgage Loan that
is contemplated or permitted under a Mortgage or other documents evidencing or
securing the applicable Mortgage Loan (either as a matter of right or upon
satisfaction of specified conditions), (H) to obtain, release, waive or modify
any term other than a Money Term of a Mortgage Loan and related documents
subject to and to the extent permitted by Section 8.18, (I) to exercise all
rights, powers and privileges granted or provided to the holder of the Mortgage
Notes and any One Seaport Plaza Companion Loan under the terms of the Mortgage
Loan, including all rights of consent or approval thereunder, (J) to enter into
lease subordination agreements, non-disturbance and attornment agreements or
other leasing or rental arrangements which may be requested by the Mortgagor or
the Mortgagor's tenants, (K) to join the Mortgagor in granting, modifying or
releasing any easements, covenants, conditions, restrictions, equitable
servitudes, or land use or zoning requirements with respect to the Mortgaged
Properties to the extent such does not adversely affect the value of the related
Mortgage Loan or Mortgaged Property, (L) to execute and deliver, on behalf of
itself, the Trustee, the Trust (and, if applicable, the holders of the One
Seaport Plaza Companion Loan) or any of them, any and all instruments of
satisfaction or cancellation, or of partial or full release or discharge and all
other comparable instruments, with respect to the Mortgage Loans and with
respect to the Mortgaged Properties, and (M) cause to be held on behalf of the
Trustee, in accordance with the terms of any Mortgage Loan and this Agreement,
Defeasance Collateral. The foregoing clauses (A) through (M) are referred to
collectively as "Master Servicer Consent Matters". Notwithstanding the above,
the Master Servicer shall have no power to (i) waive any Prepayment Premiums or
(ii) consent to any modification of a Money Term of a Mortgage Loan. Nothing
contained in this Agreement shall limit the ability of the Master Servicer to
lend money to (to the extent not secured, in whole or in part, by any Mortgaged
Property), accept deposits from and otherwise generally engage in any kind of
business or dealings with any Mortgagor as though the Master Servicer was not a
party to this Agreement or to the transactions contemplated hereby; provided,
however, that this sentence shall not modify the Servicing Standard.

            (b) The Master Servicer shall not be obligated to service and
administer the Mortgage Loans which have become and continue to be Specially
Serviced Mortgage Loans, except as specifically provided herein. The Master
Servicer shall be required to make all calculations and prepare all reports
required hereunder with respect to such Specially Serviced Mortgage Loans (other
than calculations and reports expressly required to be made by the Special
Servicer hereunder) as if no Servicing Transfer Event had occurred and shall
continue to collect all Scheduled Payments, make Servicing Advances as set forth
herein, make P&I Advances as set forth herein and render such incidental
services with respect to such Specially Serviced Mortgage Loans, all as are
specifically provided for herein, but shall have no other servicing or other
duties with respect to such Specially Serviced Mortgage Loans. The Master
Servicer shall give notice within three Business Days to the Special Servicer of
any collections it receives from any Specially Serviced Mortgage Loans, subject
to changes agreed upon from time to time by the Special Servicer and the Master
Servicer. The Special Servicer shall instruct within one Business Day after
receiving such notice the Master Servicer on how to apply such funds. The Master
Servicer within one Business Day after receiving such instructions shall apply
such funds in accordance with the Special Servicer's instructions. Each Mortgage
Loan that becomes a Specially Serviced Mortgage Loan shall continue as such
until such Mortgage Loan becomes a Rehabilitated Mortgage Loan. The Master
Servicer shall not be required to initiate extraordinary collection procedures
or legal proceedings with respect to any Mortgage Loan or to undertake any
pre-foreclosure procedures.

            (c) Concurrently with the execution of this Agreement, the Trustee
will sign the Power of Attorney attached hereto as Exhibit S-1. The Master
Servicer, shall promptly notify the Trustee of the recording of any document on
behalf of the Trustee under such Power-of-Attorney. From time to time until the
termination of the Trust, upon receipt of additional unexecuted powers of
attorney from the Master Servicer or the Special Servicer, the Trustee shall
execute and return to the Master Servicer, the Special Servicer or any Primary
Servicer any additional powers of attorney and other documents necessary or
appropriate to enable the Master Servicer and the Special Servicer to service
and administer the Mortgage Loans including, without limitation, documents
relating to the management, operation, maintenance, repair, leasing or marketing
of the Mortgaged Properties. The Master Servicer shall indemnify the Trustee for
any costs, liabilities and expenses (including attorneys' fees) incurred by the
Trustee in connection with the intentional or negligent misuse of such power of
attorney by the Master Servicer. Notwithstanding anything contained herein to
the contrary, neither the Master Servicer nor the Special Servicer shall without
the Trustee's written consent: (i) initiate any action, suit or proceeding
solely under the Trustee's name without indicating the Master Servicer's or
Special Servicer's, as applicable, representative capacity or (ii) take any
action with the intent to, and which actually does cause, the Trustee to be
registered to do business in any state; provided, however, that the preceding
clause (i) shall not apply to the initiation of actions relating to a Mortgage
Loan, which the Master Servicer or the Special Servicer, as the case may be, is
servicing pursuant to its respective duties herein (in which case the Master
Servicer or the Special Servicer, as the case may be, shall give prior notice to
the Trustee of the initiation of such action). The limitations of the preceding
clause shall not be construed to limit any duty or obligation imposed on the
Trustee under any other provision of this Agreement.

            (d) The Master Servicer shall make efforts consistent with the
Servicing Standard and the terms of this Agreement to collect all payments
called for under the terms and provisions of the applicable Mortgage Loans
(other than Specially Serviced Mortgage Loans or REO Properties).

            (e) The Master Servicer (or any Primary Servicer on its behalf)
shall segregate and hold all funds collected and received pursuant to any
Mortgage Loan (other than the Woodfield Pari Passu Loan) constituting Escrow
Amounts separate and apart from any of its own funds and general assets and
shall establish and maintain one or more segregated custodial accounts (each, an
"Escrow Account") into which all Escrow Amounts shall be deposited within one
Business Day after receipt. Each Escrow Account shall be an Eligible Account
except with respect to Mortgage Loans identified on Schedule VI for which Escrow
Accounts shall be transferred to Eligible Accounts at the earliest date
permitted under the related Mortgage Loan documents. The Master Servicer shall
also deposit into each Escrow Account any amounts representing losses on
Eligible Investments pursuant to the immediately succeeding paragraph and any
Insurance Proceeds or Liquidation Proceeds which are required to be applied to
the restoration or repair of any Mortgaged Property pursuant to the related
Mortgage Loan. Each Escrow Account shall be maintained in accordance with the
requirements of the related Mortgage Loan and in accordance with the Servicing
Standard. Withdrawals from an Escrow Account may be made only:

            (i) to effect timely payments of items constituting Escrow Amounts
      for the related Mortgage Loan;

            (ii) to transfer funds to the Certificate Account (or any
      sub-account thereof) to reimburse the Master Servicer for any Advance
      relating to Escrow Amounts, but only from amounts received with respect to
      the related Mortgage Loan which represent late collections of Escrow
      Amounts thereunder;

            (iii) for application to the restoration or repair of the related
      Mortgaged Property in accordance with the related Mortgage Loan and the
      Servicing Standard;

            (iv) to clear and terminate such Escrow Account upon the termination
      of this Agreement or pay-off of the related Mortgage Loan;

            (v) to pay from time to time to the related Mortgagor any interest
      or investment income earned on funds deposited in the Escrow Account if
      such income is required to be paid to the related Mortgagor under
      applicable law or by the terms of the Mortgage Loan, or otherwise to the
      Master Servicer; and

            (vi) to remove any funds deposited in a Escrow Account that were not
      required to be deposited therein or to refund amounts to the Mortgagors
      determined to be overages.

            Subject to the immediately succeeding sentence, (i) the Master
Servicer may direct any depository institution or trust company in which the
Escrow Accounts are maintained to invest the funds held therein in one or more
Eligible Investments; provided, however, that such funds shall be either (x)
immediately available or (y) available in accordance with a schedule which will
permit the Master Servicer to meet the payment obligations for which the Escrow
Account was established; (ii) the Master Servicer shall be entitled to all
income and gain realized from any such investment of funds as additional
servicing compensation; and (iii) the Master Servicer shall deposit from its own
funds in the applicable Escrow Account the amount of any loss incurred in
respect of any such investment of funds immediately upon the realization of such
loss. The Master Servicer shall not direct the investment of funds held in any
Escrow Account and retain the income and gain realized therefrom if the terms of
the related Mortgage Loan or applicable law permit the Mortgagor to be entitled
to the income and gain realized from the investment of funds deposited therein,
and the Master Servicer shall not be required to invest amounts on deposit in
Escrow Accounts in Eligible Investments or Eligible Accounts to the extent that
the Master Servicer is required by either law or under the terms of any related
Mortgage Loan to deposit or invest (or the Mortgagor is entitled to direct the
deposit or investment of) such amounts in another type of investments or
accounts. In the event the Master Servicer is not entitled to direct the
investment of such funds, (1) the Master Servicer shall direct the depository
institution or trust company in which such Escrow Accounts are maintained to
invest the funds held therein in accordance with the Mortgagor's written
investment instructions, if the terms of the related Mortgage Loan or applicable
law require the Master Servicer to invest such funds in accordance with the
Mortgagor's directions; and (2) in the absence of appropriate written
instructions from the Mortgagor, the Master Servicer shall have no obligation
to, but may be entitled to, direct the investment of such funds; provided,
however, that in either event (i) such funds shall be either (y) immediately
available or (z) available in accordance with a schedule which will permit the
Master Servicer to meet the payment obligations for which the Escrow Account was
established, and (ii) the Master Servicer shall have no liability for any loss
in investments of such funds that are invested pursuant to written instructions
from the Mortgagor.

            (f) The relationship of each of the Master Servicer and the Special
Servicer to the Trustee and the Paying Agent and to each other under this
Agreement is intended by the parties to be that of an independent contractor and
not of a joint venturer, partner or agent.

            (g) With respect to each Mortgage Loan, if required by the terms of
the related Mortgage Loan, any Lock-Box Agreement or similar agreement, the
Master Servicer shall establish and maintain, in accordance with the Servicing
Standard, one or more lock-box, cash management or similar accounts ("Lock-Box
Accounts") to be held outside the Trust and maintained by the Master Servicer in
accordance with the terms of the related Mortgage. No Lock-Box Account is
required to be an Eligible Account, unless otherwise required pursuant to the
related Mortgage Loan documents. The Master Servicer shall apply the funds
deposited in such accounts in accordance with terms of the related Mortgage Loan
documents, any Lock-Box Agreement and in accordance with the Servicing Standard.

            (h) The Master Servicer or any Primary Servicer on its behalf shall
process all defeasances of Mortgage Loans in accordance with the terms of the
Mortgage Loan documents, and shall be entitled to any fees paid relating
thereto. The Master Servicer shall not permit defeasance (or partial defeasance
if permitted under the Mortgage Loan) of any Mortgage Loan on or before the
second anniversary of the Closing Date unless such defeasance will not result in
an Adverse REMIC Event and the Master Servicer has received an opinion of
counsel to such effect and all items in the following sentence have been
satisfied. Subsequent to the second anniversary of the Closing Date, the Master
Servicer, in connection with the defeasance of a Mortgage Loan shall require (to
the extent it is not inconsistent with the Servicing Standard) that: (i) the
defeasance collateral consists of U.S. Treasury obligations, (ii) the Master
Servicer has received evidence satisfactory to it, that the defeasance will not
result in an Adverse REMIC Event, (iii) either (A) the related Mortgagor
designates a Single-Purpose Entity (if the Mortgagor no longer complies) to own
the Defeasance Collateral (subject to customary qualifications) or (B) the
Master Servicer has established a Single-Purpose Entity to hold all Defeasance
Collateral relating to the Defeasance Loans (in its corporate capacity and not
as agent of or on behalf of the Trust Fund or the Trustee), (iv) the Master
Servicer has requested and received from the Mortgagor (A) an opinion of counsel
that the Trustee will have a perfected, first priority security interest in such
Defeasance Collateral and (B) written confirmation from a firm of independent
accountants stating that payments made on such Defeasance Collateral in
accordance with the terms thereof will be sufficient to pay the subject Mortgage
Loan (or the defeased portion thereof in connection with a partial defeasance)
in full on or before its Maturity Date and to timely pay each subsequent
Scheduled Payment, (v) (A) the Master Servicer shall receive a Rating Agency
Confirmation if the Mortgage Loan (together with any other Mortgage Loan with
which it is cross-collateralized) has a Principal Balance greater than the
lesser of $20,000,000 and 5% of the Aggregate Certificate Balance (or such
higher threshold as shall be published by S&P), unless such Rating Agency has
waived in writing such Rating Agency Confirmation requirement or (B) if the
Mortgage Loan is less than or equal to both of the amounts set forth in clause
(A), either a Notice and Certification in the form attached hereto as Exhibit Z
(or such less restrictive form as shall be adopted by S&P) or a Rating Agency
Confirmation is received from S&P and (vi) a Rating Agency Confirmation is
received if the Mortgage Loan is one of the ten largest Mortgage Loans, by
Principal Balance. Any customary and reasonable out-of-pocket expense incurred
by the Master Servicer pursuant to this Section 8.3(h) shall be paid by the
Mortgagor of the Defeasance Loan pursuant to the related Mortgage, Mortgage Note
or other pertinent document, if so allowed by the terms of such documents.

            The parties hereto acknowledge that, if the payments described in
paragraph 43 of Exhibit 2 to the Mortgage Loan Purchase Agreements regarding the
obligation of a Mortgagor to pay the reasonable costs and expenses associated
with a defeasance of the related Mortgage Loan are insufficient to reimburse the
Trust, including, but not limited to, rating agency fees, then the sole
obligation of the related Seller shall be to pay an amount equal to such
insufficiency or expense to the extent the related Mortgagor is not required to
pay such amount. Promptly upon receipt of notice of such insufficiency or unpaid
expense, the Master Servicer shall request the related Seller to make such
payment by deposit to the Certificate Account.

            In the case of a Specially Serviced Mortgage Loan, the Master
Servicer shall process any defeasance of such Specially Serviced Mortgage Loan
in accordance with the original terms of the respective Mortgage Loan documents
following a request by the Special Servicer that the Master Servicer do so,
which request shall be accompanied by a waiver of any condition of defeasance
that an "event of default" under such Specially Serviced Mortgage Loan not have
occurred or be continuing, and the Master Servicer shall be entitled to any fees
paid relating to such defeasance. If such "event of default" is on account of an
uncured payment default, the Special Servicer will process the defeasance of
such Specially Serviced Mortgage Loan, and the Special Servicer shall be
entitled to any fees paid relating to such defeasance.

            (i) The Master Servicer shall, as to each Mortgage Loan which is
secured by the interest of the related Mortgagor under a ground lease, confirm
whether or not on or prior to the date that is thirty (30) days after the
Closing Date, the Seller has notified the related ground lessor of the transfer
of such Mortgage Loan to the Trust pursuant to this Agreement and informed such
ground lessor that any notices of default under the related Ground Lease should
thereafter be forwarded to the Master Servicer (as evidenced by delivery of a
copy thereof to the Master Servicer). The Master Servicer shall promptly notify
the ground lessor if the Seller has failed to do so by the thirtieth day after
the Closing Date.

            (j) Pursuant to the One Seaport Plaza Intercreditor Agreement, the
owner of the related One Seaport Plaza Companion Loan has agreed that the Master
Servicer and the Special Servicer are authorized and obligated to service and
administer the One Seaport Plaza Companion Loan pursuant to this Agreement. The
Master Servicer and the Trustee are authorized and directed to execute and
deliver the One Seaport Plaza Letter Agreement to the holder of the One Seaport
Plaza Companion Loan.

            (k) Pursuant to the Woodfield Intercreditor Agreement, the owner of
the Woodfield Pari Passu Loan has agreed that such owner's rights in, to and
under the Woodfield Pari Passu Loan are subject to the servicing and all other
rights of the 2002-HQ Master Servicer and the 2002-HQ Special Servicer, and the
2002-HQ Master Servicer and the 2002-HQ Special Servicer are authorized and
obligated to service and administer the Woodfield Pari Passu Loan pursuant to
the 2002-HQ Pooling and Servicing Agreement. Notwithstanding anything herein to
the contrary, the parties hereto acknowledge and agree that the Master
Servicer's obligations and responsibilities hereunder and the Master Servicer's
authority with respect to the Woodfield Pari Passu Loan are limited by and
subject to the terms of the Woodfield Intercreditor Agreement and the rights of
the 2002-HQ Master Servicer and the 2002-HQ Special Servicer with respect
thereto under the 2002-HQ Pooling and Servicing Agreement. The Master Servicer
shall use reasonable best efforts consistent with the Servicing Standard to
monitor the servicing of the Woodfield Pari Passu Loan by the 2002-HQ Master
Servicer and the 2002-HQ Special Servicer pursuant to the 2002-HQ Pooling and
Servicing Agreement and shall enforce the rights of the Trustee (as holder of
the Woodfield Pari Passu Loan) under the Woodfield Intercreditor Agreement. The
Master Servicer shall take such actions as it shall deem reasonably necessary to
facilitate the servicing of the Woodfield Pari Passu Loan by the 2002-HQ Master
Servicer and the 2002-HQ Special Servicer including, but not limited to,
delivering appropriate Requests for Release to the Trustee and Custodian (if
any) in order to deliver any portion of the related Mortgage File to the 2002-HQ
Master Servicer or 2002-HQ Special Servicer under the 2002-HQ Pooling and
Servicing Agreement.

            Section 8.4 Primary Servicing and Sub-Servicing. (a) The parties
hereto (A) acknowledge that the Master Servicer has delegated certain of its
obligations and assigned certain of its rights under this Agreement to each of
the Primary Servicers pursuant to the respective Primary Servicing Agreements;
and (B) agree: (1) in addition to those obligations specifically delegated by
the Master Servicer to the Primary Servicers under the applicable Primary
Servicing Agreement, each Primary Servicer shall also perform the Master
Servicer's obligations set forth in Section 2.1(d) of this Agreement as such
Section relates to the Mortgage Loans serviced by it; (2) in addition to those
rights specifically granted by the Master Servicer to the Primary Servicers
under the applicable Primary Servicing Agreement, those rights set forth in
Section 8.24 hereof accruing to the benefit of the Master Servicer shall also
accrue to the benefit of the Primary Servicers; (3) any indemnification or
release from liability set forth in this Agreement accruing to the benefit of
the Master Servicer shall also, to the extent applicable, benefit the Primary
Servicers; and (4) for each notice, certification, report, schedule, statement
or other type of writing that a party hereto is obligated to deliver to the
Master Servicer, such party shall deliver to each of the Primary Servicers a
copy of such notice, certification, report, schedule, statement or other type of
writing at the time and in the same manner that any of the foregoing is required
to be delivered to the Master Servicer.

            Notwithstanding the provisions of any Primary Servicing Agreement or
any other provisions of this Agreement, the Master Servicer shall remain
obligated and liable to the Trustee, the Paying Agent, the Special Servicer, the
Certificateholders and the holder of any One Seaport Plaza Companion Loan for
servicing and administering of the Mortgage Loans in accordance with the
provisions of this Agreement to the same extent as if the Master Servicer was
alone servicing and administering the Mortgage Loans. The Master Servicer or
applicable Primary Servicer shall supervise, administer, monitor, enforce and
oversee the servicing of the applicable Mortgage Loans by any Sub-Servicer
appointed by it. The terms of any arrangement or agreement between the Master
Servicer or applicable Primary Servicer and a Sub-Servicer shall provide that
such agreement or arrangement may be terminated, without cause and without the
payment of any termination fees, by the Trustee in the event such Master
Servicer or applicable Primary Servicer is terminated in accordance with this
Agreement or the applicable Primary Servicing Agreement. In addition, none of
the Special Servicer, the Trustee, the Paying Agent, the Certificateholders or
the holder of any One Seaport Plaza Companion Loan shall have any direct
obligation or liability (including, without limitation, indemnification
obligations) with respect to any Sub-Servicer. The Master Servicer or applicable
Primary Servicer shall pay the costs of enforcement against any of its
Sub-Servicers at its own expense, but shall be reimbursed therefor only (i) from
a general recovery resulting from such enforcement only to the extent that such
recovery exceeds all amounts due in respect of the related Mortgage Loans or
(ii) from a specific recovery of costs, expenses or attorneys fees against the
party against whom such enforcement is directed. Notwithstanding the provisions
of any Primary Servicing Agreement or sub-servicing agreement, any of the
provisions of this Agreement relating to agreements or arrangements between the
Master Servicer or a Primary Servicer or a Sub-Servicer, or reference to actions
taken through a Sub-Servicer or otherwise, the Master Servicer or applicable
Primary Servicer shall remain obligated and liable to the Trustee, the Paying
Agent, the Special Servicer and the Certificateholders for the servicing and
administering of the applicable Mortgage Loans in accordance with (and subject
to the limitations contained within) the provisions of this Agreement or the
applicable Primary Servicing Agreement without diminution of such obligation or
liability by virtue of indemnification from a Sub-Servicer and to the same
extent and under the same terms and conditions as if the Master Servicer or
applicable Primary Servicer alone were servicing and administering the Mortgage
Loans.

            (b) Subject to the limitations of subsection (a), the Master
Servicer and the Primary Servicer may appoint one or more sub-servicers (each, a
"Sub-Servicer") to perform all or any portion of its duties hereunder for the
benefit of the Trustee and the Certificateholders, provided, however, that any
decision or recommendation involving the exercise of a Primary Servicer's
discretion as a "lender" under any loan document with respect to a Mortgage Loan
shall be exercised only by the Primary Servicer and may not be delegated to a
Sub-Servicer.

            The Master Servicer shall enter into the Primary Servicing Agreement
with the Primary Servicer and shall not terminate such agreement except in
accordance with the terms thereof. To the extent consistent with the rights of a
Primary Servicer under this Agreement and the related Primary Servicing
Agreement, but not in limitation of any other rights granted to a Primary
Servicer in this Agreement and/or in the Primary Servicing Agreement, such
Primary Servicer shall have all of the rights and obligations of a Sub-Servicer
set forth herein.

            Notwithstanding any other provision set forth in this Agreement to
the contrary, (i) each Primary Servicer's rights and obligations under its
respective Primary Servicing Agreement shall expressly survive a termination of
the Master Servicer's servicing rights under this Agreement; provided that the
applicable Primary Servicing Agreement has not been terminated in accordance
with its provisions, (ii) any successor Master Servicer, including, without
limitation, the Trustee (if it assumes the servicing obligations of the Master
Servicer) shall be deemed to automatically assume and agree to each of the then
current Primary Servicing Agreements without further action upon becoming the
successor Master Servicer and (iii) this Agreement may not be modified in any
manner which would increase the obligations or limit the rights of any Primary
Servicer hereunder and/or under the applicable Primary Servicing Agreement,
without the prior written consent of such Primary Servicer (which consent shall
not be unreasonably withheld).

            If a task, right or obligation of Master Servicer is delegated to a
Primary Servicer under a Primary Servicing Agreement, and such task, right or
obligation involves or requires the consent of the Special Servicer, then the
Special Servicer shall accept the performance of such task, right or obligation
by such Primary Servicer in accordance with the terms of this Agreement
(including without limitation any time periods for consent or deemed consent to
be observed by the Special Servicer) as if Master Servicer were performing it.

            Notwithstanding any provision of this Agreement, each of the parties
hereto acknowledges and agrees that the Special Servicer is neither a party to
any Primary Servicing Agreement, nor is it bound by any provision of any Primary
Servicing Agreement. The Special Servicer hereby acknowledges the delegation of
rights and duties hereunder by the Master Servicer pursuant to the provisions of
the Primary Servicing Agreements.

            Section 8.5 Servicers May Own Certificates. The Master Servicer and
any Primary Servicer and any agent of the Master Servicer or Primary Servicer in
its individual or any other capacity may become the owner or pledgee of
Certificates with the same rights it would have if it were not the Master
Servicer or such agent. Any such interest of the Master Servicer or any Primary
Servicer or such agent in the Certificates shall not be taken into account when
evaluating whether actions of the Master Servicer are consistent with its
obligations in accordance with the Servicing Standard regardless of whether such
actions may have the effect of benefiting the Class or Classes of Certificates
owned by the Master Servicer.

            Section 8.6 Maintenance of Hazard Insurance, Other Insurance, Taxes
and Other. Subject to the limitations set forth below, the Master Servicer shall
use reasonable efforts consistent with the Servicing Standard to cause the
related Mortgagor to maintain for each Mortgaged Property and other than any REO
Property) (A) a Standard Hazard Insurance Policy which does not provide for
reduction due to depreciation in an amount that is at least equal to the lesser
of (i) the full replacement cost of improvements securing such Mortgage Loan or
(ii) the outstanding Principal Balance of such Mortgage Loan, but, in any event,
in an amount sufficient to avoid the application of any co-insurance clause and
(B) any other insurance coverage for a Mortgage Loan which the related Mortgagor
is required to maintain under the related Mortgage, provided the Master Servicer
shall not be required to maintain earthquake insurance on any Mortgaged Property
required by the related Mortgage unless such insurance was required at
origination and is available at commercially reasonable rates; provided,
however, that the Special Servicer shall have the right, but not the duty, to
obtain, at the Trust's expense, earthquake insurance on any Mortgaged Property
securing a Specially Serviced Mortgage Loan or an REO Property so long as such
insurance is available at commercially reasonable rates. If the related
Mortgagor does not maintain the insurance set forth in clauses (A) and (B)
above, then the Master Servicer shall cause to be maintained such insurance with
a Qualified Insurer. Notwithstanding the foregoing, with respect to any Mortgage
Loan whose principal balance (or with respect to a Crossed Mortgage Loan or a
Mortgage Loan secured by multiple properties, whose allocated loan balance)
exceeds $20,000,000, any explicit terrorism insurance requirements contained in
the related Mortgage Loan documents will be enforced by the Master Servicer in
accordance with the Servicing Standard.

            Each Standard Hazard Insurance Policy maintained with respect to any
Mortgaged Property that is not an REO Property shall contain, or have an
accompanying endorsement that contains, a standard mortgagee clause. If, on the
date of origination, the improvements on the Mortgaged Property are located in a
designated special flood hazard area by the Federal Emergency Management Agency
in the Federal Register, as amended from time to time (to the extent permitted
under the related Mortgage Loan or as required by law), the Master Servicer
(with respect to any Mortgaged Property that is not an REO Property) shall cause
flood insurance to be maintained. Such flood insurance shall be in an amount
equal to the lesser of (i) the unpaid principal balance of the related Mortgage
Loan or (ii) the maximum amount of such insurance available for the related
Mortgaged Property under the national flood insurance program, if the area in
which the improvements on the Mortgaged Property are located is participating in
such program. Any amounts collected by the Master Servicer under any such
policies (other than amounts to be applied to the restoration or repair of the
related Mortgaged Property or property thus acquired or amounts released to the
Mortgagor in accordance with the terms of the applicable Mortgage Loan) shall be
deposited in the Certificate Account.

            Any cost (such as insurance premiums and insurance broker fees but
not internal costs and expenses of obtaining such insurance) incurred by the
Master Servicer in maintaining any insurance pursuant to this Section 8.6 shall
not, for the purpose of calculating monthly distributions to the
Certificateholders or remittances to the Paying Agent for their benefit, be
added to the Principal Balance of the Mortgage Loan, notwithstanding that the
terms of the Mortgage Loan permit such cost to be added to the outstanding
Principal Balance thereof. Such costs shall be paid as a Servicing Advance by
the Master Servicer, subject to Section 4.4 hereof.

            Notwithstanding the above, the Master Servicer shall have no
obligation beyond using its reasonable efforts consistent with the Servicing
Standard to enforce such insurance requirements. Furthermore, the Master
Servicer shall not be required in any event to maintain or obtain insurance
coverage beyond what is reasonably available at a cost customarily acceptable
and consistent with the Servicing Standard. The Master Servicer shall notify the
Trustee in the event it makes such determination.

            The Master Servicer shall conclusively be deemed to have satisfied
its obligations as set forth in this Section 8.6 either (i) if the Master
Servicer shall have obtained and maintained a master force placed or blanket
insurance policy insuring against hazard losses on all of the applicable
Mortgage Loans serviced by it, it being understood and agreed that such policy
may contain a deductible clause on terms substantially equivalent to those
commercially available and maintained by comparable servicers consistent with
the Servicing Standard, and provided that such policy is issued by a Qualified
Insurer or (ii) if the Master Servicer, provided that its or its parent's
long-term rating is not less than "A" by Fitch and "A-" by S&P, self-insures for
its obligations as set forth in the first paragraph of this Section 8.6. In the
event that the Master Servicer shall cause any Mortgage Loan to be covered by
such a master force placed or blanket insurance policy, the incremental cost of
such insurance allocable to such Mortgage Loan (i.e., other than any minimum or
standby premium payable for such policy whether or not any Mortgage Loan is then
covered thereby), if not borne by the related Mortgagor, shall be paid by the
Master Servicer as a Servicing Advance. If such policy contains a deductible
clause, the Master Servicer shall, if there shall not have been maintained on
the related Mortgaged Property a policy complying with this Section 8.6 and
there shall have been a loss that would have been covered by such policy,
deposit in the Certificate Account the amount not otherwise payable under such
master force placed or blanket insurance policy because of such deductible
clause to the extent that such deductible exceeds (i) the deductible under the
related Mortgage Loan or (ii) if there is no deductible limitation required
under the Mortgage Loan, the deductible amount with respect to insurance
policies generally available on properties similar to the related Mortgaged
Property which is consistent with the Servicing Standard, and deliver to the
Trustee an Officer's Certificate describing the calculation of such amount. In
connection with its activities as administrator and servicer of the Mortgage
Loans, the Master Servicer agrees to present, on its behalf and on behalf of the
Trustee, claims under any such master force placed or blanket insurance policy.

            With respect to each Mortgage Loan, the Master Servicer shall
maintain accurate records with respect to each related Mortgaged Property
reflecting the status of taxes, assessments and other similar items that are or
may become a lien on the related Mortgaged Property and the status of insurance
premiums payable with respect thereto. From time to time, the Master Servicer
(other than with respect to REO Mortgage Loans) shall (i) obtain all bills for
the payment of such items (including renewal premiums), and (ii) except in the
case of Mortgage Loans under which Escrow Amounts are not held by the Master
Servicer, effect payment of all such bills, taxes and other assessments with
respect to such Mortgaged Properties prior to the applicable penalty or
termination date, in each case employing for such purpose Escrow Amounts as
allowed under the terms of the related Mortgage Loan. If a Mortgagor fails to
make any such payment on a timely basis or collections from the Mortgagor are
insufficient to pay any such item before the applicable penalty or termination
date, the Master Servicer in accordance with the Servicing Standard shall use
its reasonable efforts to pay as a Servicing Advance the amount necessary to
effect the payment of any such item prior to such penalty or termination date
(or, with respect to real estate taxes, prior to the earlier of the imposition
of late tax payment penalty charges or the notice of intent to create a tax lien
on the Mortgaged Property), subject to Section 4.4 hereof. No costs incurred by
the Master Servicer, the Trustee or the Fiscal Agent, as the case may be, in
effecting the payment of taxes and assessments on the Mortgaged Properties and
related insurance premiums and ground rents shall, for the purpose of
calculating distributions to Certificateholders, be added to the Principal
Balance of the Mortgage Loans, notwithstanding that the terms of such Mortgage
Loans permit such costs to be added to the outstanding principal balances of
such Mortgage Loans.

            Section 8.7 Enforcement of Due-On-Sale Clauses; Assumption
Agreements; Due-On-Encumbrance Clause. (a) In the event the Master Servicer
receives a request from a Mortgagor pursuant to the provisions of any Mortgage
Loan (other than a Specially Serviced Mortgage Loan) that expressly permits,
subject to any conditions set forth in the Mortgage Loan documents, the
assignment of the related Mortgaged Property to, and assumption of such Mortgage
Loan by, another Person, the Master Servicer shall obtain relevant information
for purposes of evaluating such request. For the purpose of the foregoing
sentence, the term `expressly permits' shall include outright permission to
assign, permission to assign upon satisfaction of certain conditions or
prohibition against assignment except upon the satisfaction of stated
conditions. If the Master Servicer recommends to approve such assignment, the
Master Servicer shall provide to the Special Servicer a copy of such
recommendation and the materials upon which such recommendation is based (which
information shall consist of the information to be included in the Assignment
and Assumption Submission to Special Servicer, in the form attached hereto as
Exhibit U) and (A) the Special Servicer shall have the right hereunder to grant
or withhold consent to any such request for such assignment and assumption in
accordance with the terms of the Mortgage Loan and this Agreement, and the
Special Servicer shall not unreasonably withhold such consent and any such
decision of the Special Servicer shall be in accordance with the Servicing
Standard, (B) failure of the Special Servicer to notify the Master Servicer in
writing, within five (5) Business Days following the Master Servicer's delivery
of the recommendation described above and the complete Assignment and Assumption
Submission to Special Servicer on which the recommendation is based, of its
determination to grant or withhold such consent shall be deemed to constitute a
grant of such consent and (C) the Master Servicer shall not permit any such
assignment or assumption unless it has received the written consent of the
Special Servicer or such consent has been deemed to have been granted as
described in the preceding sentence. The Special Servicer hereby acknowledges
the delegation of rights and duties hereunder by the Master Servicer pursuant to
the provisions of each Primary Servicing Agreement. If the Special Servicer
withholds consent pursuant to the provisions of this Agreement, it shall provide
the Master Servicer or any applicable Primary Servicer with a written statement
and a verbal explanation as to its reasoning and analysis. Upon consent or
deemed consent by the Special Servicer to such proposed assignment and
assumption, the Master Servicer shall process such request of the related
Mortgagor and shall be authorized to enter into an assignment and assumption or
substitution agreement with the Person to whom the related Mortgaged Property
has been or is proposed to be conveyed, and/or release the original Mortgagor
from liability under the related Mortgage Loan and substitute as obligor
thereunder the Person to whom the related Mortgaged Property has been or is
proposed to be conveyed; provided, however, that the Master Servicer shall not
enter into any such agreement to the extent that any terms thereof would result
in an Adverse REMIC Event or create any lien on a Mortgaged Property that is
senior to, or on parity with, the lien of the related Mortgage. In the event
that the Master Servicer shall require a Nondisqualification Opinion in order to
process a request for a substitution, the Master Servicer shall use its
reasonable efforts in accordance with the Servicing Standard to collect the
related costs, expenses and fees from the Mortgagor to the extent the related
Mortgage Loan documents require the related Mortgagor to pay such amounts. To
the extent permitted by applicable law, the Master Servicer shall not enter into
such an assumption or substitution agreement unless the credit status of the
prospective new Mortgagor is in conformity to the terms of the related Mortgage
Loan documents. In making its recommendation, the Master Servicer shall evaluate
such conformity in accordance with the Servicing Standard. The Master Servicer
shall not condition approval of any request for assumption of a Mortgage Loan on
an increase in the interest rate of such Mortgage Loan. The Master Servicer
shall notify the Trustee, the Paying Agent and the Special Servicer of any
assignment and assumption or substitution agreement executed pursuant to this
Section 8.7(a). The Master Servicer shall be entitled to (as additional
servicing compensation) 50% of any assumption fee collected from a Mortgagor in
connection with an assignment and assumption or substitution of a non-Specially
Serviced Mortgage Loan executed pursuant to this Section 8.7(a) and the Special
Servicer shall be entitled to (as additional special servicing compensation) the
other 50% of such fee.

            Notwithstanding the foregoing, the Special Servicer acknowledges
that the Master Servicer has delegated certain tasks, rights and obligations to
the Primary Servicers with respect to Post Closing Requests (as defined in the
Primary Servicing Agreements) pursuant to Section 8.4 of this Agreement. Each
Primary Servicing Agreement classifies certain Post Closing Requests as Category
1 Requests (as defined in such Primary Servicing Agreement), and grants the
related Primary Servicer certain authority to evaluate and process such requests
in accordance with this Agreement, the applicable Primary Servicing Agreement
and the applicable Mortgage Loan documents.

            With respect to a Category 1 Request that involves a condition, term
or provision that requires, or specifies a standard of, consent or approval of
the applicable Mortgagee under the Mortgage Loan documents, each Primary
Servicing Agreement provides for the Master Servicer's determination of
materiality of such condition, term or provision requiring approval or consent
and the referral of such condition, term or provision to a Special Servicer for
consent in accordance with the terms of such Primary Servicing Agreement upon a
determination of materiality. The Special Servicer hereby acknowledges such
provisions. Nothing in this Agreement, however, shall grant the Primary
Servicers greater authority, discretion or delegated rights over Post Closing
Requests than are set forth in the Primary Servicing Agreements.

            (b) Reserved.

            (c) Neither the Master Servicer nor the Special Servicer shall have
any liability, and shall be indemnified by the Trust for any liability to the
Mortgagor or the proposed assignee, for any delay in responding to requests for
assumption, if the same shall occur as a result of the failure of the Rating
Agencies, or any of them, to respond to such request in a reasonable period of
time.

            (d) Other than with respect to the assignment and assumptions
referred to in subsection (a) above, if any Mortgage Loan that is not a
Specially Serviced Mortgage Loan contains a provision in the nature of a
"due-on-sale" clause, which by its terms (i) provides that such Mortgage Loan
shall (or may at the mortgagee's option) become due and payable upon the sale of
the related Mortgaged Property, or (ii) provides that such Mortgage Loan may not
be assumed without the consent of the related mortgagee in connection with any
such sale or other transfer, then, the Master Servicer's review and
determination to either (A) enforce such due-on-sale clause or (B) if in the
best economic interest of the Trust, waive the effect of such provision, shall
be processed in the same manner as in Section 8.7(a); provided, however, that if
the Principal Balance of such Mortgage Loan at such time equals or exceeds 5% of
the Aggregate Certificate Balance or is one of the then current top 10 loans (by
Principal Balance) in the pool, then prior to waiving the effect of such
provision, the Master Servicer shall obtain Rating Agency Confirmation regarding
such waiver. In connection with the request for such consent, the Master
Servicer shall prepare and deliver to Fitch and S&P a memorandum outlining its
analysis and recommendation in accordance with the Servicing Standard, together
with copies of all relevant documentation. The Master Servicer shall promptly
forward copies of the assignment and assumption documents relating to any
Mortgage Loan to the Special Servicer, the Paying Agent and the Trustee, and the
Master Servicer shall promptly thereafter forward such documents to the Rating
Agencies. The Special Servicer and the Master Servicer shall each be entitled to
(as additional compensation) 50% of any fee collected from a Mortgagor in
connection with the granting or withholding such consent (other than any such
fee payable in connection with the Woodfield Pari Passu Loan).

            (e) The Master Servicer shall have the right to consent to any
transfers of an interest of a Mortgagor, to the extent such transfer is allowed
under the terms of the related Mortgage Loan, including any consent to transfer
to any subsidiary or affiliate of Mortgagor or to a person acquiring less than a
majority interest in the Mortgagor; provided, however, that if (i) the Principal
Balance of such Mortgage Loan (together with any other Mortgage Loan with which
it is cross-collateralized) at such time equals or exceeds 5% of the Aggregate
Certificate Balance or is one of the then current top 10 loans (by Principal
Balance) in the pool, and (ii) the transfer is of an equity interest in the
Mortgagor greater than 49%, then prior to consenting, the Master Servicer shall
obtain a Rating Agency Confirmation regarding such consent, the costs of which
to be payable by the related Mortgagor to the extent provided for in the
Mortgage Loan documents. The Master Servicer shall be entitled to collect and
receive from Mortgagors any customary fees in connection with such transfers of
interest as additional servicing compensation to the extent the Master
Servicer's collection of such fees is not expressly prohibited under the related
loan documents for the Mortgage Loan.

            (f) The Trustee for the benefit of the Certificateholders and the
holder of any One Seaport Plaza Companion Loan shall execute any necessary
instruments in the form presented to it by the Master Servicer (pursuant to
subsection (a) or (d)) for such assignments and assumptions agreements. Upon the
closing of the transactions contemplated by such documents, the Master Servicer
shall cause the originals of the assignment and assumption agreement, the
release (if any), or the modification or supplement to the Mortgage Loan to be
delivered to the Trustee except to the extent such documents have been submitted
to the recording office, in which event the Master Servicer shall promptly
deliver copies of such documents to the Trustee and the Special Servicer.

            (g) If any Mortgage Loan (other than a Specially Serviced Mortgage
Loan) which contains a provision in the nature of a "due-on-encumbrance" clause,
which by its terms:

            (i) provides that such Mortgage Loan shall (or may at the
      mortgagee's option) become due and payable upon the creation of any
      additional lien or other encumbrance on the related Mortgaged Property or
      a lien on the ownership interest in the Mortgagor; or

            (ii) requires the consent of the Mortgagee to the creation of any
      such additional lien or other encumbrance on the related Mortgaged
      Property,

            then, as long as such Mortgage Loan is included in the Trust, the
Master Servicer, on behalf of the Trustee as the Mortgagee of record, shall
exercise (or, subject to Section 8.18, waive its right to exercise) any right it
may have with respect to such Mortgage Loan (x) to accelerate the payments
thereon, or (y) to withhold its consent to the creation of any such additional
lien or other encumbrance, in a manner consistent with the Servicing Standard
and sub-section (h) below. The Master Servicer shall not waive the effect of
such provision without first obtaining Rating Agency Confirmation regarding such
waiver and complying with the provisions of the next succeeding paragraph;
provided, however, that such Rating Agency Confirmation shall only be required
if the applicable Mortgage Loan (x) represents 2% or more of the Stated
Principal Balance of all of the Mortgage Loans held by the Trust or is one of
the 10 largest Mortgage Loans based on Stated Principal Balance and (y) such
Mortgage Loan has a Loan-to-Value Ratio (which includes Junior Indebtedness, if
any) that is greater than or equal to 85% and a Debt Service Coverage Ratio
(which includes debt service on Junior Indebtedness, if any) that is less than
1.2x.

            (h) Without limiting the generality of the preceding paragraph, in
the event that the Master Servicer receives a request for a waiver of any
"due-on-encumbrance" clause, the Master Servicer shall obtain relevant
information for purposes of evaluating such request for a waiver. If the Master
Servicer recommends to waive such clause, the Master Servicer shall provide to
the Special Servicer a copy of such recommendation and the materials upon which
such recommendation is based (which information shall consist of the information
to be included in the Additional Lien, Monetary Encumbrance and Mezzanine
Financing Submission Package to the Special Servicer, in the form attached
hereto as Exhibit V) and (A) the Special Servicer shall have the right hereunder
to grant or withhold consent to any such request in accordance with the terms of
the Mortgage Loan and this Agreement, and the Special Servicer shall not
unreasonably withhold such consent and any such decision of the Special Servicer
shall be in accordance with the Servicing Standard, (B) failure of the Special
Servicer to notify the Master Servicer in writing, within five (5) Business Days
following the Master Servicer's delivery of the recommendation described above
and the complete Additional Lien, Monetary Encumbrance and Mezzanine Financing
Submission Package to the Special Servicer on which the recommendation is based,
of its determination to grant or withhold such consent shall be deemed to
constitute a grant of such consent and (C) the Master Servicer shall not permit
any such waiver unless it has received the written consent of the Special
Servicer or such consent has been deemed to have been granted as described in
the preceding sentence. If the Special Servicer withholds consent pursuant to
the foregoing provisions, it shall provide the Master Servicer with a written
statement and a verbal explanation as to its reasoning and analysis. Upon
consent or deemed consent by the Special Servicer to such proposed waiver, the
Master Servicer shall process such request of the related Mortgagor subject to
the other requirements set forth above.

            (i) The parties hereto acknowledge that, if the payments described
in paragraph 43 of Exhibit 2 to the Mortgage Loan Purchase Agreements regarding
the obligation of a Mortgagor to pay the reasonable costs and expenses of
obtaining any Rating Agency Confirmation in connection with an assumption of the
related Mortgage Loan are insufficient to reimburse the Trust, then it shall be
the sole obligation of the related Seller to pay an amount equal to such
insufficiency to the extent the related Mortgagor is not required to pay them.
Promptly upon receipt of notice of such insufficiency, the Master Servicer or
the Special Servicer, as applicable, shall request the related Seller to make
such payment by deposit to the Certificate Account. The Master Servicer may not
waive such payment by the Mortgagor and shall use its reasonable efforts to
collect such amounts from the Mortgagor to the extent the related mortgage loan
documents require the related Mortgagor to pay such amounts.

            Section 8.8 Trustee to Cooperate; Release of Trustee Mortgage Files.
Upon the payment in full of any Mortgage Loan, the complete defeasance of a
Mortgage Loan, satisfaction or discharge in full of any Specially Serviced
Mortgage Loan, or the receipt by the Master Servicer of a notification that
payment in full (or such payment, if any, in connection with the satisfaction
and discharge in full of any Specially Serviced Mortgage Loan) will be escrowed
in a manner customary for such purposes, and upon notification by the Master
Servicer in the form of a certification (which certification shall include a
statement to the effect that all amounts received or to be received in
connection with such payment which are required to be deposited in the
Certificate Account have been or will be so deposited) of a Servicing Officer
and a request for release of the Trustee Mortgage File in the form of Exhibit C
hereto the Trustee shall promptly release the related Trustee Mortgage File to
the Master Servicer and the Trustee shall execute and deliver to the Master
Servicer the deed of reconveyance or release, satisfaction or assignment of
mortgage or such instrument releasing the lien of the Mortgage, as directed by
the Master Servicer together with the Mortgage Note with written evidence of
cancellation thereon. The provisions of the immediately preceding sentence shall
not, in any manner, limit or impair the right of the Master Servicer to execute
and deliver, on behalf of the Trustee, the Certificateholders, the holder of any
One Seaport Plaza Companion Loan or any of them, any and all instruments of
satisfaction, cancellation or assignment without recourse, representation or
warranty, or of partial or full release or discharge and all other comparable
instruments, with respect to the Mortgage Loans or any One Seaport Plaza
Companion Loan, and with respect to the Mortgaged Properties held for the
benefit of the Certificateholders and the holder of any One Seaport Plaza
Companion Loan. No expenses incurred in connection with any instrument of
satisfaction or deed of reconveyance shall be chargeable to the Distribution
Account but shall be paid by the Master Servicer except to the extent that such
expenses are paid by the related Mortgagor in a manner consistent with the terms
of the related Mortgage and applicable law. From time to time and as shall be
appropriate for the servicing of any Mortgage Loan, including for such purpose,
collection under any policy of flood insurance, any Servicer Fidelity Bond or
Errors and Omissions Policy, or for the purposes of effecting a partial or total
release of any Mortgaged Property from the lien of the Mortgage or the making of
any corrections to the Mortgage Note or the Mortgage or any of the other
documents included in the Trustee Mortgage File, the Trustee shall, upon request
of the Master Servicer and the delivery to the Trustee of a Request for Release
signed by a Servicing Officer, in the form of Exhibit C hereto, release the
Trustee Mortgage File to the Master Servicer or the Special Servicer, as the
case may be.

            Section 8.9 Documents, Records and Funds in Possession of Master
Servicer to be Held for the Trustee for the Benefit of the Certificateholders.
Notwithstanding any other provisions of this Agreement, the Master Servicer
shall transmit to the Trustee, to the extent required by this Agreement, all
documents and instruments coming into the possession of the Master Servicer from
time to time and shall account fully to the Trustee and the Paying Agent for any
funds received or otherwise collected thereby, including Liquidation Proceeds or
Insurance Proceeds in respect of any Mortgage Loan. All Servicer Mortgage Files
and funds collected or held by, or under the control of, the Master Servicer in
respect of any Mortgage Loans (or any One Seaport Plaza Companion Loan), whether
from the collection of principal and interest payments or from Liquidation
Proceeds or Insurance Proceeds, including any funds on deposit in the
Certificate Account (or any One Seaport Plaza Companion Loan Custodial Account),
shall be held by the Master Servicer for and on behalf of the Trustee and the
Certificateholders (or the holder of any One Seaport Plaza Companion Loan) and
shall be and remain the sole and exclusive property of the Trustee, subject to
the applicable provisions of this Agreement. The Master Servicer agrees that it
shall not create, incur or subject any Servicer Mortgage Files or Trustee
Mortgage File or any funds that are deposited in the Certificate Account or any
Escrow Account, or any funds that otherwise are or may become due or payable to
the Trustee or the Paying Agent, to any claim, lien, security interest,
judgment, levy, writ of attachment or other encumbrance, or assert by legal
action or otherwise any claim or right of setoff against any Servicer Mortgage
Files or Trustee Mortgage File or any funds collected on, or in connection with,
a Mortgage Loan, except, however, that the Master Servicer shall be entitled to
receive from any such funds any amounts that are properly due and payable to the
Master Servicer under this Agreement.

            Section 8.10 Servicing Compensation. (a) As compensation for its
activities hereunder, the Master Servicer shall be entitled to the Master
Servicing Fee and the Primary Servicing Fee, which shall be payable by the Trust
from amounts held in the Certificate Account (and from the related One Seaport
Plaza Companion Loan Custodial Account to the extent related solely to a One
Seaport Plaza Companion Loan) or otherwise collected from the Mortgage Loans as
provided in Section 5.2. The Master Servicer shall be required to pay to the
Primary Servicers the related Primary Servicing Fees, which shall be payable by
the Trust from amounts as provided in Section 5.1(c), unless retained by the
Primary Servicers from amounts transferred to the Master Servicer in accordance
with the terms of the Primary Servicing Agreements. The Master Servicer shall be
required to pay to the holders of the rights to the Excess Servicing Fees, the
Excess Servicing Fees, which shall be payable by the Trust as provided in
Section 5.1(c), unless otherwise retained by the holders of such rights.
Notwithstanding anything herein to the contrary, if any of the holders of the
right to receive Excess Servicing Fees resigns or is no longer Master Servicer
or Primary Servicer, as applicable, for any reason, it will continue to have the
right to receive its portion of the Excess Servicing Fee, and any of the holders
of the right to receive Excess Servicing Fees shall have the right to assign its
portion of the Excess Servicing Fee, whether or not it is then acting as Master
Servicer or Primary Servicer hereunder. The Master Servicer shall also be
entitled to the Primary Servicing Fee, which shall be payable by the Trust from
amounts held in the Certificate Account (or a sub-account thereof) or otherwise
collected from the Mortgage Loans as provided in Section 5.2, provided that the
Primary Servicing Fee payable to the Master Servicer shall only be collected
from the Mortgage Loans set forth on Schedule I and Schedule III.

            (b) Additional servicing compensation in the form of assumption
fees, extension fees, servicing fees, default interest payable at a rate above
the Mortgage Rate (net of any amount used to pay Advance Interest), Modification
Fees, forbearance fees, Late Fees (net of Advance Interest) or other usual and
customary charges and fees actually received from Mortgagors shall be retained
by the Master Servicer, provided that the Master Servicer shall be entitled to
(i) receive 50% of assumption fees collected on Mortgage Loans that are not
Specially Serviced Mortgage Loans as provided in Section 8.7(a), (ii) 100% of
Modification Fees on Mortgage Loans that are not Specially Serviced Mortgage
Loans as provided in Section 8.18 hereof; and (iii) 100% of any extension fees
collected from the related Mortgagor in connection with the extension of the
Maturity Date of any Mortgage Loan as provided in Section 8.18; provided,
however, that the Master Servicer shall not be entitled to any such fees in
connection with any Specially Serviced Mortgage Loans. If the Master Servicer
collects any amount payable to the Special Servicer hereunder in connection with
an REO Mortgage Loan or Specially Serviced Mortgage Loan, the Master Servicer
shall promptly remit such amount to the Special Servicer as provided in Section
5.2. The Master Servicer shall be required to pay all applicable expenses
incurred by it in connection with its servicing activities hereunder.

            (c) Notwithstanding any other provision herein, the Master Servicing
Fee and, if applicable, the related Primary Servicing Fee for each monthly
period relating to each Determination Date shall be reduced by an amount equal
to the Compensating Interest (if any) relating to Mortgage Loans which are not
Specially Serviced Mortgage Loans for such Determination Date.

            (d) The Master Servicer shall also be entitled to additional
servicing compensation of (i) an amount equal to the excess, if any, of the
aggregate Prepayment Interest Excess relating to Mortgage Loans which are not
Specially Serviced Mortgage Loans for each Distribution Date over the aggregate
Prepayment Interest Shortfalls for such Mortgage Loans for such Distribution
Date, (ii) interest or other income earned on deposits in the Certificate
Account and the Distribution Account (but only to the extent of the net
investment earnings, if any, with respect to each such account), and, (iii) to
the extent not required to be paid to any Mortgagor under applicable law, any
interest or other income earned on deposits in the Escrow Accounts.

            Section 8.11 Master Servicer Reports; Account Statements. (a) For
each Distribution Date, (i) the Master Servicer shall deliver to the Paying
Agent, on the related Report Date, the Loan Periodic Update File with respect to
such Distribution Date, (ii) the Master Servicer shall report to the Paying
Agent on the related Advance Report Date, the amount of P&I Advance to be made
by the Master Servicer on the related Master Servicer Remittance Date and (iii)
the Master Servicer shall notify the Paying Agent as soon as possible, but no
later than noon, New York City time on the Master Servicer Remittance Date, of
the amount of any Principal Payments and Balloon Payments received by the
Business Day immediately preceding the Master Servicer Remittance Date, which
amounts were not reported pursuant to clause (i) or (ii) immediately above. The
Special Servicer is required to provide all information relating to Specially
Serviced Mortgage Loans in order for the Master Servicer to satisfy its duties
in this Section 8.11.

            (b) The Master Servicer shall deliver to the Trustee and the Paying
Agent within 30 days following each Distribution Date a statement setting forth
the status of the Certificate Account as of the close of business on the last
Business Day of the second preceding calendar month showing, for the period
covered by such statement, the aggregate of deposits in or withdrawals from the
Certificate Account and shall deliver to each holder of a One Seaport Plaza
Companion Loan within 30 days following each Distribution Date a statement
setting forth the status of the One Seaport Plaza Companion Loan Custodial
Account, as of the close of business on the last Business Day of the second
preceding calendar month showing, for the period covered by such statement, the
aggregate of transfers in and transfers from or deposits in or withdrawals from
such One Seaport Plaza Companion Loan Custodial Account.

            (c) The Master Servicer shall promptly inform the Special Servicer
of the name, account number, location and other necessary information concerning
the Certificate Account in order to permit the Special Servicer to make deposits
therein.

            (d) Reserved.

            (e) The Master Servicer shall deliver a copy of any reports or
information delivered to the Trustee or the Paying Agent pursuant to subsection
(a) or subsection (b) of this Section 8.11 to the Depositor, the Special
Servicer, the Operating Adviser (and, solely with respect to the One Seaport
Plaza Pari Passu Loan, the One Seaport Plaza Operating Adviser, if any) and each
Rating Agency, in each case upon request by such Person and only to the extent
such reports and information are not otherwise required to be delivered to such
Person under any provision of this Agreement.

            (f) Notwithstanding any provision of this Agreement to the contrary,
the Master Servicer shall not have any obligation to deliver any statement,
notice or report that is then made available on the Master Servicer's or the
Paying Agent's internet website, provided that it has notified all parties
entitled to delivery of such reports, by electronic mail or other notice
provided in this Agreement, to the effect that such statements, notices or
reports shall thereafter be made available on such website from time to time.

            (g) The Master Servicer shall deliver or cause to be delivered to
the Paying Agent the following CMSA Reports with respect to the Mortgage Loans
(and, if applicable, the related REO Properties and, to the extent received from
the 2002-HQ Master Servicer, the Woodfield Pari Passu Loan) providing the
required information as of the related Determination Date upon the following
schedule: (i) a Comparative Financial Status Report not later than each Report
Date, commencing in August 2002; (ii) an Operating Statement Analysis Report,
the Financial File and an NOI Adjustment Worksheet in accordance with Section
8.14 of this Agreement; (iii) a Servicer Watch List in accordance with and
subject to the terms of Section 8.11(h) on each Report Date, commencing in
August 2002; (iv) a Loan Set-Up File (with respect to the initial Distribution
Date only) not later than the Report Date in July 2002 (v) a Loan Periodic
Update File not later than each Report Date commencing in August 2002 (a July
2002 report will be issued by the Master Servicer in the format and with the
content as reasonably agreed by the Master Servicer and the Trustee); (vi) a
Property File not later than each Report Date, commencing in August 2002; (vii)
a Delinquent Loan Status Report on each Report Date, commencing in August 2002;
(viii) an Historical Loan Modification Report not later than each Report Date,
commencing in August 2002; (ix) an Historical Liquidation Report not later than
each Report Date, commencing in August 2002; (x) an REO Status Report on each
Report Date, commencing in August 2002; and (xi) such CMSA Reports and/or data
files and/or elements from the 2002-HQ Master Servicer as to the Woodfield Pari
Passu Loan as to which the 2002-HQ Master Servicer and the Master Servicer shall
agree. The information that pertains to Specially Serviced Mortgage Loans and
REO Properties reflected in such reports shall be based solely upon the reports
delivered by the Special Servicer to the Master Servicer in writing and on a
computer readable medium reasonably acceptable to the Master Servicer and the
Special Servicer on the Determination Date prior to the related Master Servicer
Remittance Date in the form required under Section 9.32. The Master Servicer's
responsibilities under this Section 8.11(g) with respect to REO Loans and
Specially Serviced Mortgage Loans shall be subject to the satisfaction of the
Special Servicer's obligations under Section 9.32. The reporting obligations of
the Master Servicer in connection with the One Seaport Plaza Loan Pair shall be
construed to refer only to such information regarding the One Seaport Plaza Loan
Pair (and its related Mortgaged Property) but whenever the Master Servicer
remits funds to the holder of a One Seaport Plaza Companion Loan, it shall
thereupon deliver to such holder a remittance report identifying the amounts in
such remittance.

            (h) For each Distribution Date, the Master Servicer shall deliver to
the Paying Agent (and solely with respect to the One Seaport Plaza Loan Pair,
the holder of the related One Seaport Plaza Companion Loan), not later than the
related Report Date, a Servicer Watch List. To the extent the Master Servicer
has knowledge thereof, the Master Servicer shall list any Mortgage Loan on the
Servicer Watch List as to which any of the following events have occurred
following the Cut-Off Date: (i) Mortgage Loans having a current Debt Service
Coverage Ratio that is 85% or less of the debt service coverage ratio listed for
such Mortgage Loan under the heading "NCF DSCR"in Appendix II to the Final
Prospectus Supplement or having a Debt Service Coverage Ratio that is less than
1.10x, (ii) Mortgage Loans as to which any required inspection of the related
Mortgaged Property conducted by the Master Servicer indicates a problem that the
Master Servicer determines can reasonably be expected to materially adversely
affect the cash flow generated by such Mortgaged Property, (iii) Mortgage Loans
which have come to the Master Servicer's attention in the performance of its
duties under this Agreement, in respect of which (A) the occupancy of the
related Mortgaged Property is under 80%, (B) any tenant occupying 25% or more of
the space in the related Mortgaged Property vacates the Mortgaged Property
(without being replaced by one or more comparable tenants and leases) or is the
subject of bankruptcy or similar proceedings if the Master Servicer has received
written notice of such proceedings or such proceedings have become general
public knowledge, (C) with respect to Mortgaged Properties operated as a hotel,
the occupancy thereof is more than 10% less than the occupancy as of the Cut-Off
Date as set forth in Appendix II to the Final Prospectus Supplement or (D) any
Mortgagor or an affiliate thereof has been the subject of bankruptcy or similar
proceedings if the Master Servicer has received written notice of such
proceedings or such proceedings have become general public knowledge, (iv)
Mortgage Loans that are at least 30 days delinquent in payment, (v) Mortgage
Loans that are within 90 days of maturity, (vi) Mortgage Loans that are
delinquent in respect of real estate taxes, (vii) Mortgage Loans for which any
outstanding Advances exist, (viii) Mortgage Loans that are late after the
expiration of any grace period in making monthly payments three or more times in
the preceding 12 months (commencing with the first anniversary of the Closing
Date) and (ix) any Rehabilitated Mortgage Loan until the Mortgagor has made
three (3) consecutive payments.

            (i) If the Master Servicer delivers a notice of drawing to effect a
drawing on any letter of credit or debt service reserve account under which the
Trust has rights as the holder of any Mortgage Loan for purposes other than
payment or reimbursement of amounts contemplated in and by a reserve or escrow
agreement (other than after a default under an applicable Mortgage Loan), the
Master Servicer shall, within five (5) Business Days following its receipt of
the proceeds of such drawing, deliver notice thereof to the Special Servicer,
the Operating Adviser (and, solely with respect to the One Seaport Plaza Pari
Passu Loan, the One Seaport Plaza Operating Adviser, if any) and the Paying
Agent, which notice shall set forth (i) the unpaid Principal Balance of such
Mortgage Loan immediately before and immediately after the drawing, and (ii) a
brief description of the circumstances that in the Master Servicer's good faith,
reasonable judgment and in compliance with the Servicing Standard entitled the
Master Servicer to make such drawing.

            Section 8.12 Annual Statement as to Compliance. The Master Servicer
shall deliver to the Depositor, the Paying Agent and the Trustee on or before
March 30 of each year, commencing in March 2003, an Officer's Certificate
stating, as to the signer thereof, that (A) a review of the activities of the
Master Servicer during the preceding calendar year or portion thereof and of the
performance of the Master Servicer under this Agreement has been made under such
officer's supervision and (B) to the best of such officer's knowledge, based on
such review, the Master Servicer has fulfilled all its obligations under this
Agreement in all material respects throughout such year, or, if there has been a
default in the fulfillment of any such obligation, specifying each such default
known to such officer and the nature and status thereof. The Master Servicer
shall forward a copy of each such statement to the Rating Agencies, the
Operating Adviser and the One Seaport Plaza Operating Adviser, if any, provided
that neither the Master Servicer nor the Special Servicer shall be required to
deliver its Annual Performance Certification until May 15 in any given year so
long as it has received written confirmation from the Depositor or the Trustee
that a Report on Form 10-K is not required to be filed in respect of the Trust
for the preceding calendar year. The signing officer shall have no personal
liability with respect to the content of any such statement, and the Master
Servicer or the Special Servicer, as the case may be, shall be deemed to have
made such statement and shall assume any liability resulting therefrom.

            The Master Servicer and the Special Servicer will each reasonably
cooperate with the Depositor in conforming any Officer's Certificate delivered
pursuant to this Section 8.12 to requirements imposed by the Securities and
Exchange Commission on the Depositor in connection with the Commission's
issuance of a no-action letter relating to the Depositor's reporting
requirements in respect of the Trust pursuant to the Exchange Act.

            Section 8.13 Annual Independent Public Accountants' Servicing
Report. On or before noon (Eastern Time) on March 30 of each year, commencing in
March 2003, the Master Servicer at its expense shall cause a firm of nationally
recognized independent public accountants (which may also render other services
to the Master Servicer) and that is a member of the American Institute of
Certified Public Accountants to furnish a statement to the Trustee, the Paying
Agent and the Depositor, with a copy to the Rating Agencies, to the effect that
(i) it has obtained a letter of representation regarding certain matters from
the management of the Master Servicer, which includes an assertion that the
Master Servicer has complied with certain minimum mortgage loan servicing
standards (to the extent applicable to commercial and multifamily mortgage
loans), identified in the Uniform Single Attestation Program for Mortgage
Bankers established by the Mortgage Bankers Association of America, with respect
to the servicing of commercial and multifamily mortgage loans during the most
recently completed calendar year and (ii) on the basis of an examination
conducted by such firm in accordance with standards established by the American
Institute of Certified Public Accountants, such representation is fairly stated
in all material respects, subject to such exceptions and other qualifications
that may be appropriate. In rendering its report such firm may rely, as to
matters relating to the direct servicing of commercial and multifamily mortgage
loans by Primary Servicers or Sub-Servicers, upon comparable reports of firms of
independent certified public accountants rendered on the basis of examinations
conducted in accordance with the same standards (rendered within one year of
such report) with respect to those Primary Servicers or Sub-Servicers, provided
that neither the Master Servicer nor the Special Servicer will be required to
cause the delivery of its Annual Accountant's Report until May 15 in any given
year so long as it has received written confirmation from the Depositor or the
Trustee that a Report on Form 10-K is not required to be filed in respect of the
Trust for the preceding calendar year. In rendering its report such firm may
rely, as to matters relating to the direct servicing of commercial and
multifamily mortgage loans by Sub-Servicers, upon comparable reports of firms of
independent certified public accountants rendered on the basis of examinations
conducted in accordance with the same standards (rendered within one year of
such report) with respect to those Sub-Servicers.

            The Master Servicer and the Special Servicer, to the extent
applicable, will reasonably cooperate with the Depositor in conforming any
reports delivered pursuant to this Section 8.13 to requirements imposed by the
Securities and Exchange Commission on the Depositor in connection with the
Commission's issuance of a no-action letter relating to the Depositor's
reporting requirements in respect of the Trust pursuant to the Exchange Act.

            Section 8.14 Operating Statement Analysis Reports Regarding the
Mortgaged Properties. Within 105 calendar days (or 90 days as to the Special
Servicer) after the end of each of the first three calendar quarters (in each
year) for the trailing 12 months, quarterly or year-to-date information
received, commencing for the quarter ending on June 30, 2002, the Master
Servicer shall deliver to the Paying Agent an Operating Statement Analysis
Report and a CMSA Financial File for each Mortgaged Property (in electronic
format), prepared using the non-normalized quarterly, year-to-date or trailing
12 month operating statements and rent rolls received from the related
Mortgagor, if any, and copies of the related operating statements and rent rolls
utilized in preparing such reports and files (as requested and not available on
the Master Servicer's website). With respect to Specially Serviced Mortgage
Loans, the Master Servicer shall include information only to the extent provided
by the Special Servicer, which an Operating Statement Analysis Report and CMSA
Financial File shall be prepared by the Special Servicer and delivered to the
Master Servicer within 90 days after the end of each of the first three quarters
of each year for the trailing twelve months, quarterly or year-to-date
information received and as accompanied by copies of the operating statements,
rent rolls and other information utilized by Special Servicer to prepare such
report or files. With respect to any Mortgage Loan for which a Primary Servicer
is appointed as a Special Servicer with respect to such Mortgage Loan pursuant
to Section 9.39, the reports prepared by such special servicer shall only
include the CMSA reports and related data required by the related Primary
Servicing Agreement, and such other reports as are mutually agreed to by the
related Primary Servicer and Master Servicer. Not later than the Report Date
occurring in July of each year, beginning in 2003, the Master Servicer (in the
case of Mortgage Loans and as provided by the Special Servicer to the Master
Servicer for Specially Serviced Mortgage Loans) shall deliver to the Paying
Agent an Operating Statement Analysis Report, a CMSA Financial File and an NOI
Adjustment Worksheet for each Mortgage Loan (in electronic format), based on the
most recently available year-end financial statements and most recently
available rent rolls of each applicable Mortgagor in addition to copies of the
related operating statements and rent rolls (as requested and not available on
the Master Servicer's website) (to the extent provided to the Master Servicer or
Special Servicer by or on behalf of each Mortgagor. In the case of Specially
Serviced Mortgaged Loans, as provided to the Special Servicer by the Mortgagor,
the Special Servicer shall forward such information to the Master Servicer on or
before April 15 of each such year as provided for in Section 9.32 (e) herein),
containing such information and analyses for each Mortgage Loan provided for in
the respective forms of Operating Statement Analysis Report, CMSA Financial File
and an NOI Adjustment Worksheet in addition to copies of the related operating
statements and rent rolls. Such information provided by the Master Servicer
shall include what would customarily be included in accordance with the
Servicing Standard including, without limitation, Debt Service Coverage Ratios
and income, subject in the case of the Woodfield Pari Passu Loan, to the receipt
of such report from the 2002-HQ Master Servicer or the 2002-HQ Special Servicer.
The Master Servicer shall make reasonable efforts, consistent with the Servicing
Standard, to obtain such reports from the 2002-HQ Master Servicer or the 2002-HQ
Special Servicer. As and to the extent reasonably requested by the Special
Servicer, the Master Servicer shall make inquiry of any Mortgagor with respect
to such information or as regards the performance of the related Mortgaged
Property in general. The Paying Agent shall provide or make available
electronically at no cost to the Certificateholders or Certificate Owners, the
Rating Agencies, the Operating Adviser (and, solely with respect to the One
Seaport Plaza Pari Passu Loan, the One Seaport Plaza Operating Adviser, if any),
the Depositor, the Placement Agent, the Underwriters and, solely as it relates
to the One Seaport Plaza Loan Pair, to the holder of the related One Seaport
Plaza Companion Loan, the Operating Statement Analysis Reports, CMSA Financial
Files and NOI Adjustment Worksheets described above pursuant to Section 5.4(a).
The aggregated CMSA Reports for all Mortgaged Properties shall be available on
the Master Servicer's website (which shall initially be located at
www.orixcm.com) by the Business Day following the Distribution Date in September
2002. The related rent rolls, operating statements, financial statements and
inspections collected with respect to the Mortgaged Properties shall be
available for review by the Operating Advisor, the other parties to this
Agreement, the Rating Agencies, any Certificateholder and other appropriate
parties via a password protocol and execution of an agreement relating thereto
on the Master Servicer's website (which shall be initially located at
www.orixcm.com) within 30 days following receipt thereof by the Master Servicer.
The Master Servicer shall, upon request by any of such parties, deliver copies
of such documents to such parties if such documents are not available on the
Master Servicer's website at such time. Pursuant to the Mortgage Loan Purchase
Agreements, the Sellers shall populate all fields or any information for their
related Mortgage Loans reasonably requested by the Master Servicer to complete
the CMSA Property File.

            Section 8.15 Other Available Information and Certain Rights of the
Master Servicer. (a) Subject to paragraphs (b), (c) and (d) below, unless
prohibited by applicable law or the loan documents, the Paying Agent shall make
available at its Corporate Trust Office, during normal business hours, upon
reasonable advance written notice for review by any Certificateholder, any
Certificate Owner, any Seller, any Primary Servicer, the Placement Agent, any
Underwriter, each Rating Agency, the Paying Agent or the Depositor (and the
holder of a One Seaport Plaza Companion Loan, if it relates to a One Seaport
Plaza Companion Loan), originals or copies of, among other things, the following
items: (i) this Agreement and any amendments thereto, (ii) all final and
released Operating Statement Analysis Reports and the Loan Periodic Update
Files, (iii) all Officer's Certificates (including Officer's Certificates
evidencing any determination of Nonrecoverable Advances) delivered to the
Trustee and the Paying Agent since the Closing Date, (iv) all accountants'
reports delivered to the Trustee and the Paying Agent since the Closing Date,
(v) the most recent property Inspection Reports in the possession of the Paying
Agent in respect of each Mortgaged Property, (vi) the most recent Mortgaged
Property annual operating statement and rent roll, if any, collected by or on
behalf of the Master Servicer or the Special Servicer, (vii) any and all
modifications, waivers and amendments of the terms of a Mortgage Loan entered
into by the Master Servicer and/or the Special Servicer, and (viii) any and all
Officers' Certificates (and attachments thereto) delivered to the Trustee and
the Paying Agent to support the Master Servicer's determination that any Advance
was not or, if made, would not be, recoverable. The Trustee will be permitted to
require payment of a sum to be paid by the requesting party (other than the
Rating Agencies, the Trustee, the Paying Agent, the Placement Agent or any
Underwriter) sufficient to cover the reasonable costs and expenses of making
such information available.

            (b) Subject to the restrictions described below, the Master Servicer
shall afford the Rating Agencies, the Depositor, the Trustee, the Paying Agent,
the Special Servicer, the Primary Servicer, the Sellers, the Placement Agent,
the Underwriters, the Operating Adviser (and, solely with respect to the One
Seaport Plaza Pari Passu Loan, the One Seaport Plaza Operating Adviser, if any),
any Certificateholder, any holder of a One Seaport Plaza Companion Loan or
Certificate Owner, upon reasonable notice and during normal business hours,
reasonable access to all information referred to in Section 8.15(a) and any
additional relevant, non-attorney-client-privileged records and documentation
regarding the applicable Mortgage Loans, REO Property and all accounts,
insurance policies and other relevant matters relating to this Agreement (which
access may occur by means of the availability of information on the Master
Servicer's or the Paying Agent's internet website), and access to Servicing
Officers of the Master Servicer responsible for its obligations hereunder.
Copies of information or access will be provided to Certificateholders and each
Certificate Owner providing satisfactory evidence of ownership of Certificates
or beneficial ownership of a Certificate, as the case may be, which may include
a certification. Copies (or computer diskettes or other digital or electronic
copies of such information if reasonably available in lieu of paper copies) of
any and all of the foregoing items shall be made available by the Master
Servicer upon request; provided, however, that the Master Servicer shall be
permitted to require payment by the requesting party (other than the Depositor,
the Trustee, the Paying Agent, the Special Servicer, the Placement Agent, any
Underwriter, or any Rating Agency) of a sum sufficient to cover the reasonable
expenses actually incurred by the Master Servicer of providing access or copies
(including electronic or digital copies) of any such information requested in
accordance with the preceding sentence.

            (c) Nothing herein shall be deemed to require the Master Servicer to
confirm, represent or warrant the accuracy of (or to be liable or responsible
for) any other Person's information or report. Notwithstanding the above, the
Master Servicer shall not have any liability to the Depositor, the Trustee, the
Fiscal Agent, the Paying Agent, the Special Servicer, the 2002-HQ Master
Servicer, the 2002-HQ Special Servicer, any Certificateholder, any Certificate
Owner, any holder of a One Seaport Plaza Companion Loan, the Placement Agent,
any Underwriter, any Rating Agency or any other Person to whom it delivers
information pursuant to this Section 8.15 or any other provision of this
Agreement for federal, state or other applicable securities law violations
relating to the disclosure of such information. In the event any Person brings
any claims relating to or arising from the foregoing against the Master Servicer
(or any employee, attorney, officer, director or agent thereof), the Trust (from
amounts held in any account or otherwise) shall hold harmless and indemnify the
Master Servicer from any loss or expense (including attorney fees) relating to
or arising from such claims.

            (d) The Master Servicer shall produce the reports required of it
under this Agreement; provided, however, that the Master Servicer shall not be
required to produce any ad hoc non-standard written reports with respect to such
Mortgage Loans. In the event the Master Servicer elects to provide such
non-standard reports, it may require the Person requesting such report (other
than a Rating Agency) to pay a reasonable fee to cover the costs of the
preparation thereof. Notwithstanding anything to the contrary herein, as a
condition to the Master Servicer making any report or information available upon
request to any Person other than the parties hereto, the Master Servicer may
require that the recipient of such information acknowledge that the Master
Servicer may contemporaneously provide such information to the Depositor, the
Trustee, the Fiscal Agent, the Paying Agent, the Special Servicer, the Primary
Servicer, the Sellers, the Placement Agent, any Underwriter, any Rating Agency
and/or the Certificateholders, the holder of a One Seaport Plaza Companion Loan
or Certificate Owners. Any transmittal of information by the Master Servicer to
any Person other than the Trustee, the Paying Agent, the Master Servicer, the
Special Servicer, the Rating Agencies, the Operating Adviser (and the One
Seaport Plaza Operating Adviser, if any) or the Depositor may be accompanied by
a letter from the Master Servicer containing the following provision:

            "By receiving the information set forth herein, you hereby
            acknowledge and agree that the United States securities laws
            restrict any person who possesses material, non-public information
            regarding the Trust which issued Morgan Stanley Dean Witter Capital
            I Inc., Commercial Mortgage Pass-Through Certificates, Series
            2002-IQ2 from purchasing or selling such Certificates in
            circumstances where the other party to the transaction is not also
            in possession of such information. You also acknowledge and agree
            that such information is being provided to you for the purpose of,
            and such information may be used only in connection with, evaluation
            by you or another Certificateholder, Certificate Owner or
            prospective purchaser of such Certificates or beneficial interest
            therein."

            (e) The Master Servicer may, at its discretion, make available by
electronic media and bulletin board service certain information and may make
available by electronic media or bulletin board service (in addition to making
such information available as provided herein) any reports or information
required by this Agreement that the Master Servicer is required to provide to
any of the Rating Agencies, the Depositor and anyone the Depositor reasonably
designates.

            (f) The Master Servicer shall cooperate in providing the Rating
Agencies with such other pertinent information relating to the Mortgage Loans as
is or should be in their respective possession as the Rating Agencies may
reasonably request.

            Section 8.16 Rule 144A Information. For as long as any of the
Certificates are "restricted securities" within the meaning of Rule 144A under
the Securities Act, the Master Servicer agrees to provide to the Paying Agent
for delivery to any Holder thereof, any Certificate Owner therein and to any
prospective purchaser of the Certificates or beneficial interest therein
reasonably designated by the Paying Agent upon the request of such
Certificateholder, such Certificate Owner or the Paying Agent, subject to this
Section 8.16 and the provisions of Section 8.15, any information prepared by the
Master Servicer that is required to be provided to such holder or prospective
purchaser to satisfy the condition set forth in Rule 144A(d)(4) under the
Securities Act, including, without limitation, copies of the reports and
information described in Sections 8.15(a) and (b).

            Any recipient of information provided pursuant to this Section 8.16
shall agree that such information shall not be disclosed or used for any purpose
other than the evaluation of the Certificates by such Person and the Master
Servicer shall be permitted to use the letter referred to in Section 8.15(d).
Unless the Master Servicer chooses to deliver the information directly, the
Depositor, the Placement Agent, the Underwriters or the Paying Agent shall be
responsible for the physical delivery of the information requested pursuant to
this Section 8.16. As a condition to the Master Servicer making any report or
information available upon request to any Person other than the parties hereto,
the Master Servicer may require that the recipient of such information
acknowledge that the Master Servicer may contemporaneously provide such
information to the Depositor, the Trustee, the Paying Agent, the Placement
Agent, the Underwriters, any Rating Agency and/or the Certificateholders and
Certificate Owners. The Master Servicer will be permitted to require payment of
a sum to be paid by the requesting party (other than the Rating Agencies, the
Trustee, the Paying Agent, the Placement Agent or the Underwriters) sufficient
to cover the reasonable costs and expenses of making such information available.

            Section 8.17 Inspections. The Master Servicer shall, at its own
expense, inspect or cause to be inspected each Mortgaged Property other than
Mortgaged Properties related to Specially Serviced Mortgage Loans, every
calendar year beginning in 2003, or every second calendar year beginning in 2004
if the Principal Balance of the related Mortgage Loan or the One Seaport Plaza
Loan Pair is under $2 million; provided that the Master Servicer shall, at the
expense of the Trust, inspect or cause to be inspected each Mortgaged Property
related to a Mortgage Loan (other than a Specially Serviced Mortgage Loan or if
there has not been an inspection within the past six months) that has a Debt
Service Coverage Ratio that falls below 1.0x. The foregoing sentence shall not
alter the terms of the Special Servicer's obligation to inspect Mortgaged
Properties as set forth in Section 9.4(b) hereto. The Master Servicer shall
cause to be prepared an Inspection Report relating to each inspection. The
applicable Inspection Reports shall be available for review by the Trustee, the
Special Servicer and, upon request, the Rating Agencies, the Placement Agent,
the Underwriters, the Depositor, the Paying Agent, the Operating Adviser, if
any), any Certificate Owner, any Seller and any Primary Servicer and, solely as
it relates to the One Seaport Plaza Loan Pair, to the holder of the related One
Seaport Plaza Companion Loan via a password protocol and execution of an
agreement relating thereto on the Master Servicer's website (which shall be
initially located at www.orixcm.com) by the Business Day following the
Distribution Date in September 2002. The Master Servicer shall, upon request by
any of such parties, deliver copies of such documents to such parties if such
documents are not available on the Master Servicer's website at such time. The
Special Servicer shall have the right to inspect or cause to be inspected (at
its own expense) every calendar year any Mortgaged Property related to a
Mortgage Loan that is not a Specially Serviced Mortgage Loan, provided that the
Special Servicer notifies the Master Servicer prior to such inspection.

            Section 8.18 Modifications, Waivers, Amendments, Extensions and
Consents. Subject to the limitations of Section 12.3 hereof, the Master Servicer
shall have the following powers:

            (a) (i) The Master Servicer, in accordance with the Servicing
Standard, may agree to any modification, waiver, amendment or consent of or
relating to any term (including, without limitation, Master Servicer Consent
Matters set forth in Section 8.3(a) hereof) other than a Money Term of a
Mortgage Loan that is not a Specially Serviced Mortgage Loan, provided that such
amendment would not result in an Adverse REMIC Event; and provided, further,
that if any consent relates to a release of a letter of credit relating to any
Mortgage Loan (other than letters of credit or portions thereof released upon
satisfaction of conditions specified in the related agreements), then (i) the
Master Servicer shall notify the Special Servicer of any Mortgagor's request to
release such letter of credit which the Master Servicer recommends to release,
and (ii) if the terms of the related Mortgage Loan do not require the Master
Servicer to approve a release, then the Special Servicer shall within five
Business Days provide notice to the Master Servicer on whether the Master
Servicer should approve the release (and the failure of the Special Servicer to
give the Master Servicer such notice shall automatically be deemed to be an
approval by the Special Servicer that the Master Servicer should grant such
release). Notwithstanding the preceding sentence, if the Master Servicer
recommends to approve a modification, waiver, amendment or consent which is not
a Master Servicer Consent Matter (including, without limitation, any waiver of
any requirement that the Mortgagor post additional reserves or a letter of
credit upon the failure of the Mortgagor to satisfy conditions specified in the
Mortgage Loan documents), the Master Servicer shall provide to the Special
Servicer a copy of the Master Servicer's recommendation and the relevant
information obtained or prepared by the Master Servicer in connection therewith
(A) the Special Servicer shall have the right hereunder to grant or withhold
consent to any such proposed modification, waiver, amendment or consent, and the
Special Servicer shall not unreasonably withhold such consent and any such
decision shall be in accordance with the Servicing Standard, (B) failure of the
Special Servicer to notify the Master Servicer, within five (5) Business Days
following the Master Servicer's delivery of the recommendation described above,
of its determination to grant or withhold such consent shall be deemed to
constitute a grant of such consent and (C) the Master Servicer shall not enter
into any such proposed modification, waiver, amendment or consent unless it has
received the written consent of the Special Servicer or such consent has been
deemed to have been granted as described above. Notwithstanding anything in this
Agreement to the contrary, the Master Servicer shall not be required to obtain
or request the consent of the Special Servicer in connection with any
modification, waiver or amendment, or granting its consent to transactions,
under one or more of the Mortgage Loans that in each case the Master Servicer
has determined (in accordance with the Servicing Standard) is immaterial. In any
event, the Master Servicer shall promptly notify the Special Servicer of any
material modification, waiver, amendment or consent executed by the Master
Servicer pursuant to this Section 8.18(a)(i) and provide to the Special Servicer
a copy thereof. Notwithstanding the foregoing provisions of this Section 8.18,
if the Mortgage Loan documents require a Mortgagor to pay a fee for an
assumption, modification, waiver, amendment or consent that would be due or
partially due to the Special Servicer, then the Master Servicer shall not waive
the portion of such fee due to the Special Servicer without the Special
Servicer's approval.

            Notwithstanding the foregoing, the Special Servicer acknowledges
that the Master Servicer has delegated certain tasks, rights and obligations to
the Primary Servicers with respect to Post Closing Requests (as defined in the
Primary Servicing Agreements) pursuant to Section 8.4 of this Agreement. Each
Primary Servicing Agreement classifies certain Post Closing Requests as Category
1 Requests (as defined in such Primary Servicing Agreement), in which Primary
Servicers have certain authority to evaluate and process such requests in
accordance with this Agreement, the applicable Primary Servicing Agreement and
applicable Mortgage Loan documents.

            With respect to a Category 1 Request that involves a condition, term
or provision that requires, or specifies a standard of, consent or approval of
the applicable Mortgagee under the Mortgage Loan documents, each Primary
Servicing Agreement provides for Master Servicer's determination of materiality
of such condition, term or provision requiring approval or consent and the
referral of such condition, term or provision to the Special Servicer for
consent in accordance with the terms of such Primary Servicing Agreement upon a
determination of materiality. The Special Servicer hereby acknowledges such
provisions. Nothing in this Agreement, however, shall grant the Primary
Servicers greater authority, discretion or delegated rights over Post Closing
Requests than are set forth in the Primary Servicing Agreements.

            (ii) The Master Servicer may, without the consent of the Special
      Servicer, extend the maturity date of any Balloon Mortgage Loan that is
      not a Specially Serviced Mortgage Loan to a date that is not more than 60
      days following the original Maturity Date, if in the Master Servicer's
      sole judgment exercised in good faith (and evidenced by an Officer's
      Certificate), a default in the payment of the Balloon Payment is
      reasonably foreseeable and such extension is reasonably likely to produce
      a greater recovery to the Holders on a net present value basis than
      liquidation of such Mortgage Loan and the Mortgagor has obtained an
      executed written commitment (subject only to satisfaction of conditions
      set forth therein) for refinancing of the Mortgage Loan or purchase of the
      related Mortgaged Property. The Master Servicer shall process all such
      extensions and shall be entitled to (as additional servicing compensation)
      100% of any extension fees collected from a Mortgagor with respect to any
      such extension.

            (b) The Master Servicer may require, in its discretion (unless
prohibited or otherwise provided in the Mortgage Loan documents), as a condition
to granting any request by a Mortgagor for any consent, modification, waiver or
amendment, that such Mortgagor pay to the Master Servicer a reasonable and
customary modification fee to the extent permitted by law; provided that the
collection of such fee shall not be permitted if collection of such fee would
cause a "significant modification" (within the meaning of Treasury Regulation
Section 1.860G-2(b) of the Mortgage Loan). The Master Servicer shall be entitled
to (as additional servicing compensation) 100% of any Modification Fees
collected from a Mortgagor in connection with a consent, waiver, modification or
amendment of a non-Specially Serviced Mortgage Loan executed or granted pursuant
to this Section 8.18. The Master Servicer may charge the Mortgagor for any costs
and expenses (including attorneys' fees and Rating Agency Confirmation fees)
incurred by the Master Servicer or the Special Servicer (which amounts shall be
reimbursed to the Special Servicer) in connection with any request for a
modification, waiver or amendment. The Master Servicer agrees to use its
reasonable efforts in accordance with the Servicing Standard to collect such
costs, expenses and fees from the Mortgagor, provided that the failure or
inability of the Mortgagor to pay any such costs and expenses shall not impair
the right of the Master Servicer to cause such costs and expenses (but not
including any modification fee), and interest thereon at the Advance Rate, to be
paid or reimbursed by the Trust as a Servicing Advance (to the extent not paid
by the Mortgagor). If the Master Servicer believes that the costs and expenses
(including attorneys' fees) to be incurred by the Master Servicer in connection
with any request for a modification, waiver or amendment will result in a
payment or reimbursement by the Trust, then the Master Servicer shall notify the
Special Servicer.

            (c) The Master Servicer shall notify the Trustee, the Paying Agent
and the Special Servicer of any modification, waiver or amendment of any term of
any Mortgage Loan permitted by it under this Section and the date thereof, and
shall deliver to the Trustee for deposit in the related Mortgage File, an
original counterpart of the agreement relating to such modification, waiver or
amendment, promptly following the execution thereof except to the extent such
documents have been submitted to the applicable recording office, in which event
the Master Servicer shall promptly deliver copies of such documents to the
Trustee. The Master Servicer shall not agree to any modification, waiver, or
amendment of any Money Term of a Mortgage Loan or any term of a Specially
Serviced Mortgage Loan. The Master Servicer shall notify the holder of the One
Seaport Plaza Companion Loan of any modification of the monthly payments of the
One Seaport Plaza Loan Pair and such monthly payments shall be allocated in
accordance with the One Seaport Plaza Intercreditor Agreement.

            (d) If the Mortgage Loan documents relating to a Mortgage Loan
provide that certain conditions must be satisfied prior to the Master Servicer
releasing additional collateral for the Mortgage Loan (e.g., the release,
reduction or termination of reserves or letters of credit or the establishment
of reserves), then the Master Servicer shall be permitted to waive any such
condition without obtaining the consent of the Special Servicer, provided that
(1) the aggregate amount of the related releases or establishments is no greater
than the smaller of 10% of the outstanding unpaid Principal Balance of the
related Mortgage Loan or $75,000 or (2) the condition to be waived is deemed to
be non-material in accordance with the Servicing Standard. Notwithstanding the
foregoing, without the Special Servicer's consent or except as provided in the
specific Mortgage Loan documents, the Master Servicer shall not waive: (1) a
requirement for any such additional collateral to exist, or (2) a lock box
requirement.

            (e) Neither the Master Servicer nor any Primary Servicer will be
required to obtain a Rating Agency Confirmation in connection with this
Agreement unless the terms of this Agreement specifically requires the Master
Servicer to do so, and if so required by the terms of this Agreement, the Master
Servicer and any Primary Servicer shall not be permitted to waive (i) the Rating
Agency Confirmation requirement or (ii) the obligation, if such is set forth in
the Mortgage Loan documents, of a Mortgagor to pay all or any portion of any fee
payable in connection with obtaining the Rating Agency Confirmation.

            Section 8.19 Specially Serviced Mortgage Loans. (a) The Master
Servicer shall send a written notice to the Special Servicer, the Rating
Agencies, the Paying Agent and the Trustee and solely as it relates to the One
Seaport Plaza Loan Pair, to the holder of the related One Seaport Plaza
Companion Loan, within two Business Days after becoming aware of a Servicing
Transfer Event with respect to a Mortgage Loan, which notice shall identify the
related Mortgage Loan and set forth in reasonable detail the nature and relevant
facts of such Servicing Transfer Event and whether such Mortgage Loan is covered
by an Environmental Insurance Policy (and for purposes of stating whether such
Mortgage Loan is covered by an Environmental Insurance Policy the Master
Servicer may rely on the Mortgage Loan Schedule) and, except for the Rating
Agencies, the Paying Agent and the Trustee, shall be accompanied by a copy of
the Servicer Mortgage File. The Special Servicer shall not be liable for its
failure to deliver the notice set forth in Section 9.36(a) if such failure is
caused by its failure to receive the written notice set forth above.

            (b) Prior to the transfer of the servicing of any Specially Serviced
Mortgage Loan to the Special Servicer, the Master Servicer shall notify the
related Mortgagor of such transfer in accordance with the Servicing Standard
(the form and substance of such notice shall be reasonably satisfactory to the
Special Servicer).

            (c) Any calculations or reports prepared by the Master Servicer to
the extent they relate to Specially Serviced Mortgage Loans shall be based on
information supplied to the Master Servicer in writing by the Special Servicer
as provided hereby. The Master Servicer shall have no duty to investigate or
confirm the accuracy of any information provided to it by the Special Servicer
and shall have no liability for the inaccuracy of any of its reports due to the
inaccuracy of the information provided by the Special Servicer.

            (d) On or prior to each Distribution Date, the Master Servicer shall
provide to the Special Servicer, in order for the Special Servicer to comply
with its obligations under this Agreement, such information (and in the form and
medium) as the Special Servicer may reasonably request in writing from time to
time, provided that (i) the Master Servicer shall not be required to produce any
ad hoc reports or incur any unusual expense or effort in connection therewith
and (ii) if the Master Servicer elects to provide such ad hoc reports, it may
require the Special Servicer to pay a reasonable fee to cover the costs of the
preparation thereof.

            Section 8.20 Representations, Warranties and Covenants of the Master
Servicer. (a) The Master Servicer hereby represents and warrants to and
covenants with the Trustee and the Paying Agent, as of the date hereof:

            (i) the Master Servicer is duly organized, validly existing and in
      good standing as a limited liability company under the laws of the State
      of Delaware, and shall be and thereafter remain, in compliance with the
      laws of each State in which any Mortgaged Property is located to the
      extent necessary to perform its obligations under this Agreement, except
      where the failure to so qualify or comply would not adversely affect the
      Master Servicer's ability to perform its obligations hereunder in
      accordance with the terms of this Agreement;

            (ii) the Master Servicer has the full power and authority to
      execute, deliver, perform, and to enter into and consummate all
      transactions and obligations contemplated by this Agreement. The Master
      Servicer has duly and validly authorized the execution, delivery and
      performance of this Agreement and this Agreement has been duly executed
      and delivered by the Master Servicer; and this Agreement, assuming the due
      authorization, execution and delivery thereof by the Depositor, the
      Trustee, the Fiscal Agent, the Paying Agent and the Special Servicer,
      evidences the valid and binding obligation of the Master Servicer
      enforceable against the Master Servicer in accordance with its terms
      subject, as to enforcement of remedies, to applicable bankruptcy,
      reorganization, insolvency, moratorium, receivership and other similar
      laws affecting creditors' rights generally as from time to time in effect,
      and to general principles of equity (regardless of whether such
      enforceability is considered in a proceeding in equity or at law);

            (iii) the execution and delivery of this Agreement, the consummation
      of the transactions contemplated hereby, and the fulfillment of or
      compliance with the terms and conditions of this Agreement will not (1)
      result in a breach of any term or provision of its organizational
      documents or (2) conflict with, result in a breach, violation or
      acceleration of, or result in a default under, the terms of any other
      material agreement or instrument to which it is a party or by which it may
      be bound, or any law, governmental rule, regulation, or judgment, decree
      or order applicable to it of any court, regulatory body, administrative
      agency or governmental body having jurisdiction over it, which materially
      and adversely affects its ability to perform its obligations under this
      Agreement;

            (iv) no litigation is pending or, to the Master Servicer's
      knowledge, threatened, against it, that would materially and adversely
      affect the execution, delivery or enforceability of this Agreement or its
      ability to service the Mortgage Loans or to perform any of its other
      obligations hereunder in accordance with the terms hereof;

            (v) no consent, approval, authorization or order of any court or
      governmental agency or body is required for the execution, delivery and
      performance by it of, or compliance by it with, this Agreement, or the
      consummation of the transactions contemplated hereby, or if any such
      consent, approval, authorization or order is required, it has obtained the
      same or will obtain the same prior to the time necessary to perform its
      obligations under this Agreement, and, except to the extent in the case of
      performance, that its failure to be qualified as a foreign limited
      liability company or licensed in one or more states is not necessary for
      the performance by it of its obligations hereunder; and

            (vi) the performance of the services by the Master Servicer
      contemplated by this Agreement are in the ordinary course of business of
      the Master Servicer and the Master Servicer possesses all licenses,
      permits and other authorizations necessary to perform its duties
      hereunder.

            (b) It is understood that the representations and warranties set
forth in this Section 8.20 shall survive the execution and delivery of this
Agreement.

            (c) Any cause of action against the Master Servicer arising out of
the breach of any representations and warranties made in this Section shall
accrue upon the giving of written notice to the Master Servicer by any of the
Trustee or the Master Servicer. The Master Servicer shall give prompt notice to
the Trustee, the Depositor and the Special Servicer of the occurrence, or the
failure to occur, of any event that, with notice or the passage of time or both,
would cause any representation or warranty in this Section to be untrue or
inaccurate in any respect.

            Section 8.21 Merger or Consolidation. Any Person into which the
Master Servicer may be merged or consolidated, or any Person resulting from any
merger, conversion, other change in form or consolidation to which the Master
Servicer shall be a party, or any Person succeeding to the business of the
Master Servicer, shall be the successor of the Master Servicer hereunder,
without the execution or filing of any paper or any further act on the part of
any of the parties hereto; provided, however, that each of the Rating Agencies
provides a Rating Agency Confirmation. If the conditions to the provisions in
the foregoing sentence are not met, the Trustee may terminate the Master
Servicer's servicing of the Mortgage Loans pursuant hereto, such termination to
be effected in the manner set forth in Sections 8.28 and 8.29.

            Section 8.22 Resignation of Master Servicer. (a) Except as otherwise
provided in Section 8.22(b) hereof, the Master Servicer shall not resign from
the obligations and duties hereby imposed on it unless it determines that the
Master Servicer's duties hereunder are no longer permissible under applicable
law or are in material conflict by reason of applicable law with any other
activities carried on by it. Any such determination permitting the resignation
of the Master Servicer shall be evidenced by an Opinion of Counsel to such
effect delivered to the Trustee. No such resignation shall become effective
until a successor servicer designated by the Trustee, with the consent of the
Depositor and the Paying Agent, shall have assumed the Master Servicer's
responsibilities and obligations under this Agreement and Rating Agency
Confirmation shall have been obtained. Notice of such resignation shall be given
promptly by the Master Servicer to the Trustee.

            (b) The Master Servicer may resign from the obligations and duties
imposed on it, upon 30 days notice to the Trustee and the Paying Agent, provided
that (i) a successor servicer (w) is available, (x) has assets of at least
$15,000,000, (y) is willing to assume the obligations, responsibilities, and
covenants to be performed hereunder by the Master Servicer on substantially the
same terms and conditions, and for not more than equivalent compensation to that
herein provided and (z) assumes all obligations under the Primary Servicing
Agreements; (ii) the Master Servicer bears all costs associated with its
resignation and the transfer of servicing; and (iii) Rating Agency Confirmation
is obtained with respect to such servicing transfer, as evidenced by a letter
delivered to the Trustee by each Rating Agency.

            Section 8.23 Assignment or Delegation of Duties by Master Servicer.
The Master Servicer shall have the right without the prior written consent of
the Trustee to (A) delegate or subcontract with or authorize or appoint anyone,
or delegate certain duties to other professionals such as attorneys and
appraisers, as an agent of the Master Servicer (as provided in Section 8.4) to
perform and carry out any duties, covenants or obligations to be performed and
carried out by the Master Servicer hereunder or (B) assign and delegate all of
its duties hereunder; provided, however, that with respect to clause (B), (i)
the Master Servicer gives the Depositor, the Special Servicer, the Primary
Servicers, the holder of the One Seaport Plaza Companion Loan and the Trustee
notice of such assignment and delegation; (ii) such purchaser or transferee
accepting such assignment and delegation executes and delivers to the Depositor
and the Trustee an agreement accepting such assignment, which contains an
assumption by such Person of the rights, powers, duties, responsibilities,
obligations and liabilities of the Master Servicer, with like effect as if
originally named as a party to this Agreement and the Primary Servicing
Agreements; (iii) the purchaser or transferee has assets in excess of
$15,000,000; (iv) such assignment and delegation is the subject of a Rating
Agency Confirmation; and (v) the Depositor consents to such assignment and
delegation, such consent not be unreasonably withheld. In the case of any such
assignment and delegation in accordance with the requirements of subclause (B)
of this Section, the Master Servicer shall be released from its obligations
under this Agreement, except that the Master Servicer shall remain liable for
all liabilities and obligations incurred by it as the Master Servicer hereunder
prior to the satisfaction of the conditions to such assignment set forth in the
preceding sentence. Notwithstanding the above, the Master Servicer may appoint
the Primary Servicers and Sub-Servicers in accordance with Section 8.4 hereof.

            Section 8.24 Limitation on Liability of the Master Servicer and
Others. (a) Neither the Master Servicer nor any of the members, managers,
directors, officers, employees or agents of the Master Servicer shall be under
any liability to the holders of the Certificates, the Depositor, the Trustee,
the Fiscal Agent, the Paying Agent, the Placement Agent, the Underwriters, the
holder of any One Seaport Plaza Companion Loan or the Special Servicer for any
action taken or for refraining from the taking of any action in good faith, or
using reasonable business judgment, consistent with the Servicing Standard;
provided that this provision shall not protect the Master Servicer or any such
person against any breach of a representation or warranty contained herein or
any liability which would otherwise be imposed by reason of willful misfeasance,
bad faith or negligence in its performance of duties under the Agreement or by
reason of negligent disregard of obligations and duties hereunder. The Master
Servicer and any member, manager, director, officer, employee or agent of the
Master Servicer may rely in good faith on any document of any kind prima facie
properly executed and submitted by any Person (including, without limitation,
the Special Servicer) respecting any matters arising hereunder. The Master
Servicer shall not be under any obligation to appear in, prosecute or defend any
legal action which is not incidental to its duties to service the Mortgage Loans
in accordance with this Agreement; provided that the Master Servicer may in its
sole discretion undertake any such action which it may reasonably deem necessary
or desirable in order to protect the interests of the Certificateholders and the
Trustee in the Mortgage Loans or the interests of the holder of any One Seaport
Plaza Companion Loan (subject to the Special Servicer's servicing of Specially
Serviced Mortgage Loans as contemplated herein), or shall undertake any such
action if instructed to do so by the Trustee. In such event, all legal expenses
and costs of such action shall be expenses and costs of the Trust, and the
Master Servicer shall be entitled to be reimbursed therefor as Servicing
Advances as provided by Section 5.2, subject to the provisions of Section 4.4
hereof.

            (b) In addition, the Master Servicer shall have no liability with
respect to, and shall be entitled to conclusively rely on as to the truth of the
statements and the correctness of the opinions expressed in any certificates or
opinions furnished to the Master Servicer and conforming to the requirements of
this Agreement. Subject to the Servicing Standard, the Master Servicer shall
have the right to rely on information provided to it by the Special Servicer and
Mortgagors, and will have no duty to investigate or verify the accuracy thereof.
Neither the Master Servicer, nor any member, manager, director, officer,
employee, agent or Affiliate, shall be personally liable for any error of
judgment made in good faith by any officer, unless it shall be proved that the
Master Servicer or such officer was negligent in ascertaining the pertinent
facts. Neither the Master Servicer nor any member, manager, director, officer,
employee, agent or Affiliate, shall be personally liable for any action taken,
suffered or omitted by it in good faith and believed by it to be authorized or
within the discretion, rights or powers conferred upon it by this Agreement.

            (c) The Master Servicer shall not be obligated to incur any
liabilities, costs, charges, fees or other expenses which relate to or arise
from any breach of any representation, warranty or covenant made by the
Depositor, the Special Servicer, the Paying Agent, the Trustee or the Fiscal
Agent in this Agreement. The Trust shall indemnify and hold harmless the Master
Servicer from any and all claims, liabilities, costs, charges, fees or other
expenses which relate to or arise from any such breach of representation,
warranty or covenant to the extent the Master Servicer is unable to recover such
amounts from the Person in breach.

            (d) Except as otherwise specifically provided herein:

            (i) the Master Servicer may rely, and shall be protected in acting
      or refraining from acting upon, any resolution, officer's certificate,
      certificate of auditors or any other certificate, statement, instrument,
      opinion, report, notice, request, consent, order, financial statement,
      agreement, appraisal, bond or other document (in electronic or paper
      format) reasonably believed or in good faith believed by it to be genuine
      and to have been signed or presented by the proper party or parties;

            (ii) the Master Servicer may consult with counsel, and any written
      advice or Opinion of Counsel shall be full and complete authorization and
      protection with respect to any action taken or suffered or omitted by it
      hereunder in good faith and in accordance with such advice or Opinion of
      Counsel;

            (iii) the Master Servicer shall not be personally liable for any
      action taken, suffered or omitted by it in good faith and believed by it
      to be authorized or within the discretion, rights or powers conferred upon
      it by this Agreement; and

            (iv) the Master Servicer, in preparing any reports hereunder, may
      rely, and shall be protected in acting or refraining from acting upon any
      information (financial or other), statement, certificate, document,
      agreement, covenant, notice, request or other paper reasonably believed by
      it to be genuine and provided by any Mortgagor or manager of a Mortgaged
      Property.

            (e) The Master Servicer and any member, manager, director, officer,
employee or agent of the Master Servicer shall be indemnified by the Trustee,
the Fiscal Agent, the Paying Agent and the Special Servicer, as the case may be,
and held harmless against any and all claims, losses, penalties, fines,
forfeitures, legal fees and related costs, judgments, and any other costs,
liabilities, fees and expenses that the Master Servicer may sustain arising from
or as a result of the willful misfeasance, bad faith or negligence in the
performance of any of the Trustee's, the Fiscal Agent's, the Paying Agent's or
the Special Servicer's duties hereunder or by reason of negligent disregard of
the Trustee's, the Fiscal Agent's, the Special Servicer's or the Paying Agent's
obligations and duties hereunder (including a breach of such obligations a
substantial motive of which is to obtain an economic advantage from being
released from such obligations). The Master Servicer shall immediately notify
the Trustee, the Paying Agent, the Fiscal Agent and the Special Servicer if a
claim is made by a third party with respect to this Agreement or the Mortgage
Loans entitling the Master Servicer to indemnification hereunder, whereupon the
Trustee, the Paying Agent, the Fiscal Agent or the Special Servicer, in each
case, to the extent the claim is related to its respective willful misfeasance,
bad faith, negligence or negligent disregard, may assume the defense of any such
claim (with counsel reasonably satisfactory to the Master Servicer) and pay all
expenses in connection therewith, including counsel fees, and promptly pay,
discharge and satisfy any judgment or decree which may be entered against it or
them in respect of such claim. Any failure to so notify the Trustee, the Paying
Agent, the Fiscal Agent and the Special Servicer shall not affect any rights
that the Master Servicer may have to indemnification under this Agreement or
otherwise, unless the Trustee's, the Paying Agent's, the Fiscal Agent's or the
Special Servicer's defense of such claim is materially prejudiced thereby. Such
indemnity shall survive the termination of this Agreement or the resignation or
removal of the Master Servicer hereunder. Any payment hereunder made by the
Trustee, the Paying Agent, the Fiscal Agent or the Special Servicer pursuant to
this paragraph to the Master Servicer shall be paid from the Trustee's, the
Paying Agent's, the Fiscal Agent's or the Special Servicer's own funds, without
reimbursement from the Trust therefor except to the extent achieved through
subrogation as provided in this Agreement. Any expenses incurred or
indemnification payments made by the Trustee, the Paying Agent, the Fiscal Agent
or the Special Servicer shall be reimbursed by the party so paid, if a court of
competent jurisdiction makes a final judgment that the conduct of the Trustee,
the Paying Agent, the Fiscal Agent or the Special Servicer, as the case may be,
was not culpable of willful misfeasance, bad faith or negligence in the
performance of its respective duties hereunder or of negligent disregard of its
respective duties hereunder or the indemnified party is found to have acted with
willful misfeasance, bad faith or negligence.

            Section 8.25 Indemnification; Third-Party Claims. (a) The Master
Servicer and any director, member, manager, officer, employee or agent of the
Master Servicer shall be indemnified by the Trust and held harmless against any
and all claims, losses, penalties, fines, forfeitures, legal fees and related
costs, judgments and any other costs, liabilities, fees and expenses incurred in
connection with any legal action relating to this Agreement, any Mortgage Loans,
any REO Property or the Certificates or any exercise of any right under this
Agreement reasonably requiring the use of counsel or the incurring of expenses
other than any loss, liability or expense incurred by reason of the Master
Servicer's willful misfeasance, bad faith or negligence in the performance of
duties hereunder. The Master Servicer shall assume the defense of any such claim
(with counsel reasonably satisfactory to the Master Servicer) and out of the
Trust pay all expenses in connection therewith, including counsel fees, and out
of the Trust promptly pay, discharge and satisfy any judgment or decree which
may be entered against it or them in respect of such claim and satisfy any
settlement or other disposition in respect of such claim. The indemnification
provided herein shall survive the termination of this Agreement or of the Master
Servicer in such capacity. The Trustee, the Paying Agent or the Master Servicer
shall promptly make from the Certificate Account any payments certified by the
Master Servicer to the Trustee and the Paying Agent as required to be made to
the Master Servicer pursuant to this Section 8.25.

            (b) The Master Servicer agrees to indemnify the Trustee, the Fiscal
Agent, the Special Servicer, the Trust, the Depositor, the Paying Agent, and any
director, officer, employee, agent or Controlling Person thereof, and hold them
harmless against any and all claims, losses, penalties, fines, forfeitures,
legal fees and related costs, judgments, and any other costs, liabilities, fees
and expenses that the Trustee, the Fiscal Agent, the Special Servicer, the
Depositor, the Paying Agent and the Trust may sustain arising from or as a
result of the willful misfeasance, bad faith or negligence in the performance of
any of the Master Servicer's duties hereunder or by reason of negligent
disregard of the Master Servicer's obligations and duties hereunder (including a
breach of such obligations a substantial motive of which is to obtain an
economic advantage from being released from such obligations), and if in any
such situation the Master Servicer is replaced, the parties hereto agree that
the amount of such claims, losses, penalties, fines, legal fees and related
costs, judgments, and other costs, liabilities, fees and expenses shall at least
equal the incremental costs, if any, of retaining a successor servicer. The
Trustee, the Fiscal Agent, the Special Servicer, the Paying Agent or the
Depositor, as applicable, shall immediately notify the Master Servicer if a
claim is made by any Person with respect to this Agreement or the Mortgage Loans
entitling the Trustee, the Fiscal Agent, the Depositor, the Special Servicer,
the Paying Agent or the Trust to indemnification under this Section 8.25(b),
whereupon the Master Servicer shall assume the defense of any such claim (with
counsel reasonably satisfactory to the Trustee, the Fiscal Agent, the Special
Servicer, the Paying Agent or the Depositor, as applicable) and pay all expenses
in connection therewith, including counsel fees, and promptly pay, discharge and
satisfy any judgment or decree which may be entered against it or them in
respect of such claim. Any failure to so notify the Master Servicer shall not
affect any rights the Trustee, the Special Servicer, the Depositor, the Fiscal
Agent, the Paying Agent or the Trust may have to indemnification under this
Agreement or otherwise, unless the Master Servicer's defense of such claim is
materially prejudiced thereby. The indemnification provided herein shall survive
the termination of this Agreement and the resignation or termination of the
Master Servicer, the Special Servicer, the Fiscal Agent, the Paying Agent and
the Trustee. Any expenses incurred or indemnification payments made by the
Master Servicer shall be reimbursed by the party so paid, if a court of
competent jurisdiction makes a final, non-appealable judgment that the conduct
of the Master Servicer was not culpable or that the Master Servicer did not act
with willful misfeasance, bad faith or negligence.

            (c) Each Primary Servicer and any director, officer, employee or
agent thereof shall be indemnified by the Trust and held harmless against any
and all claims, losses, penalties, fines, forfeitures, legal fees and related
costs, judgments and any other costs, liabilities, fees and expenses incurred in
connection with any legal action relating to this Agreement, its related Primary
Servicing Agreement (but only if, and to the extent that, the Master Servicer
would have been entitled to indemnification therefor under this Agreement if it
were directly servicing the Mortgage Loan), any Mortgage Loans, any REO Property
or the Certificates or any exercise of any right under this Agreement or its
related Primary Servicing Agreement (limited as set forth above) reasonably
requiring the use of counsel or the incurring of expenses other than any loss,
liability or expense incurred by reason of such Primary Servicer's willful
misfeasance, bad faith or negligence in the performance of duties thereunder.
The applicable Primary Servicer shall assume the defense of any such claim (with
counsel reasonably satisfactory to the applicable Primary Servicer) and out of
the Trust pay all expenses in connection therewith, including counsel fees, and
out of the Trust promptly pay, discharge and satisfy any judgment or decree
which may be entered against it or them in respect of such claim. The
indemnification provided herein shall survive the termination of this Agreement
and the related Primary Servicing Agreement. The Trustee, the Paying Agent or
the Master Servicer shall promptly make from the Certificate Account any
payments certified by a Primary Servicer to the Trustee and the Paying Agent as
required to be made to such Primary Servicer pursuant to this Section 8.25.

            (d) Each Primary Servicer agrees to indemnify the Trustee, the
Fiscal Agent, the Special Servicer, the Trust, the Depositor, the Paying Agent,
and any director, officer, employee, agent or Controlling Person thereof, and
hold them harmless against any and all claims, losses, penalties, fines,
forfeitures, legal fees and related costs, judgments, and any other costs,
liabilities, fees and expenses that the Trustee, the Fiscal Agent, the Special
Servicer, the Depositor, the Paying Agent and the Trust may sustain arising from
or as a result of the willful misfeasance, bad faith or negligence in the
performance of any of the applicable Primary Servicer's duties under this
Agreement, its related Primary Servicing Agreement or by reason of negligent
disregard of the applicable Primary Servicer's obligations and duties thereunder
(including a breach of such obligations a substantial motive of which is to
obtain an economic advantage from being released from such obligations), and if
in any such situation the applicable Primary Servicer is replaced, the parties
hereto agree that the amount of such claims, losses, penalties, fines, legal
fees and related costs, judgments, and other costs, liabilities, fees and
expenses shall at least equal the incremental costs, if any, of retaining a
successor primary servicer. The Trustee, the Fiscal Agent, the Special Servicer,
the Paying Agent or the Depositor, as applicable, shall immediately notify the
applicable Primary Servicer if a claim is made by any Person with respect to
this Agreement, the related Primary Servicing Agreement or the Mortgage Loans
entitling the Trustee, the Fiscal Agent, the Depositor, the Special Servicer,
the Paying Agent or the Trust to indemnification under this Section 8.25(d),
whereupon the applicable Primary Servicer shall assume the defense of any such
claim (with counsel reasonably satisfactory to the Trustee, the Fiscal Agent,
the Special Servicer, the Paying Agent or the Depositor, as applicable) and pay
all expenses in connection therewith, including counsel fees, and promptly pay,
discharge and satisfy any judgment or decree which may be entered against it or
them in respect of such claim. Any failure to so notify the applicable Primary
Servicer shall not affect any rights the Trustee, the Fiscal Agent, the Special
Servicer, the Depositor, the Paying Agent or the Trust may have to
indemnification under this Agreement, the related Primary Servicing Agreement or
otherwise, unless the Primary Servicer's defense of such claim is materially
prejudiced thereby. The indemnification provided herein shall survive the
termination of this Agreement and the Primary Servicing Agreement and the
resignation or termination of the Master Servicer, the Fiscal Agent, the Special
Servicer, the Paying Agent and the Trustee. Any expenses incurred or
indemnification payments made by a Primary Servicer shall be reimbursed by the
party so paid, if a court of competent jurisdiction makes a final,
non-appealable judgment that the conduct of such Primary Servicer was not
culpable or that such Primary Servicer did not act with willful misfeasance, bad
faith or negligence.

            (e) The 2002-HQ Master Servicer and any director, officer, employee
or agent of the 2002-HQ Master Servicer shall be indemnified by the Trust and
held harmless against the Trust's pro rata share of any and all claims, losses,
penalties, fines, forfeitures, legal fees and related costs, judgments and any
other costs, liabilities, fees and expenses incurred in connection with any
legal action relating to the 2002-HQ Pooling and Servicing Agreement and this
Agreement, and relating to the Woodfield Pari Passu Loan (but excluding any such
losses allocable to the 2002-HQ Mortgage Loan), reasonably requiring the use of
counsel or the incurring of expenses other than any losses incurred by reason of
the 2002-HQ Master Servicer's willful misfeasance, bad faith or negligence in
the performance of its duties under the 2002-HQ Pooling and Servicing Agreement.

            Section 8.26 Exchange Act Reporting. The Master Servicer, the
Special Servicer, the Paying Agent, the Trustee and the Fiscal Agent shall
reasonably cooperate with the Depositor in connection with the Depositor's
satisfying the reporting requirements in respect of the Trust under the Exchange
Act. The Paying Agent shall prepare, execute and file on behalf of the Depositor
with respect to the Trust any Forms 8-K and 10-K customary for similar
securities as required by the Exchange Act and the Rules and Regulations of the
Securities and Exchange Commission thereunder; provided that the Depositor shall
file the initial Form 8-K in connection with the issuance of the Certificates.
The Paying Agent shall file each Form 8-K with a copy of the related Monthly
Certificateholders Report attached thereto. Any other attachments to be filed
with any Form 8-K shall be delivered to the Paying Agent in Edgar-compatible
form or as otherwise agreed upon by the Paying Agent and the Depositor, at the
Depositor's expense, and any necessary conversion to EDGAR-compatible format
will be at the Depositor's expense. Such EDGAR filings shall be at the expense
of the Depositor. The Paying Agent shall continue to make such filings until
such time as the Depositor notifies the Paying Agent that it has obtained from
the Securities and Exchange Commission a no-action letter or other exemptive
relief relating to reducing reporting requirements in respect of the Trust under
the Exchange Act and, in accordance with and to the extent permitted by
applicable law, has filed a Form 15 relating to the automatic termination of
reporting in respect of the Trust under the Exchange Act. Beginning on or before
January 31, 2003, the Depositor shall pay the Paying Agent before January 31 of
each year a fee of $5,000 as compensation for preparing and filing such reports.

            Section 8.27 Compliance with REMIC Provisions. The Master Servicer
shall act in accordance with this Agreement and the REMIC Provisions and related
provisions of the Code in order to create or maintain the status of the REMIC
Pools created hereby as REMICs under the Code. The Master Servicer shall take no
action or cause any REMIC Pool to take any action that could (i) endanger the
status of any REMIC Pool as a REMIC under the Code or (ii) result in the
imposition of a tax upon any REMIC Pool (including, but not limited to, the tax
on prohibited transactions as defined in Code Section 860F(a)(2) or on
prohibited contributions pursuant to Section 860G(d)) unless the Trustee shall
have received a Nondisqualification Opinion (at the expense of the party seeking
to take such action) to the effect that the contemplated action will not
endanger such status or result in the imposition of such tax. The Master
Servicer shall comply with the provisions of Article XII hereof.

            Section 8.28 Termination. (a) The obligations and responsibilities
of the Master Servicer created hereby (other than the obligation of the Master
Servicer to make payments to the Paying Agent as set forth in Section 8.29 and
the obligations of the Master Servicer to the Trustee, the Paying Agent, the
Fiscal Agent, the Special Servicer and the Trust as set forth in Section 8.25)
shall terminate (i) on the date which is the later of (A) the final payment or
other liquidation of the last Mortgage Loan remaining outstanding (and final
distribution to the Certificateholders) or (B) the disposition of all REO
Property (and final distribution to the Certificateholders), (ii) if an Event of
Default described in clauses 8.28(b)(iii), (iv), (v), (vi) or (x) has occurred,
60 days following the date on which the Trustee or Depositor gives written
notice to the Master Servicer that the Master Servicer is terminated or (iii) if
an Event of Default described in clauses 8.28(b)(i), (ii), (vii), (viii) or (ix)
has occurred, immediately upon the date on which the Trustee or the Depositor
gives written notice to the Master Servicer that the Master Servicer is
terminated. After any Event of Default, the Trustee (i) may elect to terminate
the Master Servicer by providing such notice, and (ii) shall provide such notice
if holders of Certificates representing more than 25% of the Aggregate
Certificate Balance of all Certificates so direct the Trustee.

            (b) "Event of Default," wherever used herein, means any one of the
following events:

            (i) any failure by the Master Servicer to remit to the Paying Agent
      or otherwise make any payment required to be remitted by the Master
      Servicer under the terms of this Agreement, including any required
      Advances; or

            (ii) any failure by the Master Servicer to make a required deposit
      to the Certificate Account which continues unremedied for one Business Day
      following the date on which such deposit was first required to be made; or

            (iii) any failure on the part of the Master Servicer duly to observe
      or perform in any material respect any other of the duties, covenants or
      agreements on the part of the Master Servicer contained in this Agreement
      which continues unremedied for a period of 30 days after the date on which
      written notice of such failure, requiring the same to be remedied, shall
      have been given to the Master Servicer by the Depositor or the Trustee;
      provided, however, that if the Master Servicer certifies to the Trustee
      and the Depositor that the Master Servicer is in good faith attempting to
      remedy such failure, such cure period will be extended to the extent
      necessary to permit the Master Servicer to cure such failure; provided,
      further, that such cure period may not exceed 90 days; or

            (iv) any breach of the representations and warranties contained in
      Section 8.20 hereof that materially and adversely affects the interest of
      any holder of any Class of Certificates and that continues unremedied for
      a period of 30 days after the date on which notice of such breach,
      requiring the same to be remedied, shall have been given to the Master
      Servicer by the Depositor or the Trustee, provided, however, that if the
      Master Servicer certifies to the Trustee and the Depositor that the Master
      Servicer is in good faith attempting to remedy such breach, such cure
      period will be extended to the extent necessary to permit the Master
      Servicer to cure such breach; provided, further, that such cure period may
      not exceed 90 days; or

            (v) the Trustee shall receive notice from Fitch to the effect that
      the continuation of the Master Servicer in such capacity would result in
      the downgrade, qualification or withdrawal of any rating then assigned by
      Fitch to any Class of Certificates; or

            (vi) the Master Servicer has been downgraded to a servicer rating
      level below CMS3 (or its then equivalent) by Fitch and, if so downgraded,
      Fitch does not return the Master Servicer to at least CMS3 or its
      equivalent within sixty (60) days; or

            (vii) a decree or order of a court or agency or supervisory
      authority having jurisdiction in the premises in an involuntary case under
      any present or future federal or state bankruptcy, insolvency or similar
      law for the appointment of a conservator, receiver, liquidator, trustee or
      similar official in any bankruptcy, insolvency, readjustment of debt,
      marshalling of assets and liabilities or similar proceedings, or for the
      winding-up or liquidation of its affairs, shall have been entered against
      the Master Servicer and such decree or order shall have remained in force
      undischarged, undismissed or unstayed for a period of 60 days; or

            (viii) the Master Servicer shall consent to the appointment of a
      conservator, receiver, liquidator, trustee or similar official in any
      bankruptcy, insolvency, readjustment of debt, marshalling of assets and
      liabilities or similar proceedings of or relating to the Master Servicer
      or of or relating to all or substantially all of its property; or

            (ix) the Master Servicer shall admit in writing its inability to pay
      its debts generally as they become due, file a petition to take advantage
      of any applicable bankruptcy, insolvency or reorganization statute, make
      an assignment for the benefit of its creditors, voluntarily suspend
      payment of its obligations, or take any corporate action in furtherance of
      the foregoing; or

            (x) the Master Servicer is removed from S&P's approved master
      servicer list and the ratings then assigned by S&P to any Classes of
      certificates are downgraded, qualified or withdrawn (including, without
      limitation, being placed on "negative credit watch") in connection with
      such removal.

            (c) The Depositor may, at any time, at its election, by notice to
the Master Servicer, appoint a primary servicer with respect to the One Seaport
Plaza Loan and One Seaport Plaza Companion Loan (the "One Seaport Plaza Primary
Servicer"), and remove the Master Servicer as primary servicer of the One
Seaport Plaza Loan and One Seaport Plaza Companion Loan, such One Seaport Plaza
Primary Servicer to have such duties as shall be determined by the Depositor,
including without limitation, collection of Mortgage Loan payments and
communications with the applicable Borrowers. Notwithstanding any such removal
of the Master Servicer as primary servicer, the Master Servicer shall continue
to receive its full Master Servicing Fee for the One Seaport Plaza Loan and One
Seaport Plaza Companion Loan. In connection with such appointment of a One
Seaport Plaza Primary Servicer, the One Seaport Plaza Primary Servicer shall, to
the extent necessary to enable the Master Servicer to continue to perform its
duties hereunder not delegated to the Primary Servicer, enter into a primary
servicing agreement (the "One Seaport Plaza Primary Servicing Agreement") with
the Master Servicer that is satisfactory to the Master Servicer, acting
reasonably and, upon such appointment, except as otherwise expressly set forth
in the One Seaport Plaza Primary Servicing Agreement, the One Seaport Plaza
Primary Servicer shall constitute a Primary Servicer for purposes of this
Agreement.

            Section 8.29 Procedure Upon Termination. (a) Notice of any
termination pursuant to clause (i) of Section 8.28(a), specifying the Master
Servicer Remittance Date upon which the final transfer by the Master Servicer to
the Paying Agent shall be made, shall be given promptly in writing by the Master
Servicer to the Paying Agent no later than the later of (i) five Business Days
after the final payment or other liquidation of the last Mortgage Loan or (ii)
the sixth day of the month of such final distribution. Upon any such
termination, the duties of the Master Servicer (other than the obligation of the
Master Servicer to pay to the Paying Agent the amounts remaining in the
Certificate Account as set forth below and the obligations of the Master
Servicer to the Trustee and the Trust and the Fiscal Agent as provided herein)
shall terminate and the Master Servicer shall transfer to the Paying Agent the
amounts remaining in the Certificate Account (and any sub-account) after making
the withdrawals permitted to be made pursuant to Section 5.2 and shall
thereafter terminate the Certificate Account and any other account or fund
maintained with respect to the Mortgage Loans.

            (b) On the date specified in a written notice of termination given
to the Master Servicer pursuant to clause (ii) of Section 8.28(a), or on the
date on which a written notice of termination is given to the Master Servicer
pursuant to clause (iii) of Section 8.28(a) all authority, power and rights of
the Master Servicer under this Agreement, whether with respect to the Mortgage
Loans or otherwise, shall terminate (except for any rights relating to unpaid
servicing compensation, unreimbursed Advances or the Excess Servicing Fee);
provided that in no event shall the termination of the Master Servicer be
effective until a successor servicer shall have succeeded the Master Servicer as
successor servicer, subject to approval by the Rating Agencies, notified the
Master Servicer of such designation and such successor servicer shall have
assumed the Master Servicer's obligations and responsibilities hereunder and
under the Primary Servicing Agreements, as set forth in an agreement
substantially in the form hereof, with respect to the Mortgage Loans. Except as
provided in the next sentence, the Trustee may not succeed the Master Servicer
as servicer until and unless it has satisfied the provisions that would apply to
a Person succeeding to the business of the Master Servicer pursuant to Section
8.22(b) hereof. Notwithstanding the foregoing sentence, in the event that the
Master Servicer is terminated as a result of an event described in Section
8.28(b)(vii), 8.28(b)(viii) or 8.28(b)(ix), the Trustee shall act as successor
servicer immediately upon delivery of a notice of termination to the Master
Servicer and shall use commercially reasonable efforts within 90 days of
assuming the duties of the Master Servicer, either to satisfy the conditions of
Section 8.22(b) hereof or to transfer the duties of the Master Servicer to a
successor servicer who has satisfied such conditions. The Trustee is hereby
authorized and empowered to execute and deliver, on behalf of the Master
Servicer, as attorney-in-fact or otherwise, any and all documents and other
instruments, and to do or accomplish all other acts or things necessary or
appropriate to effect the purposes of such notice of termination, whether to
complete the transfer and endorsement or assignment of the Mortgage Loans and
related documents or otherwise. The Master Servicer agrees to cooperate with the
Trustee, the Paying Agent and the Fiscal Agent in effecting the termination of
the Master Servicer's responsibilities and rights hereunder as Master Servicer
including, without limitation, notifying Mortgagors of the assignment of the
servicing function and providing the Trustee all documents and records in
electronic or other form reasonably requested by it to enable the successor
servicer designated by the Trustee to assume the Master Servicer's functions
hereunder and to effect the transfer to such successor for administration by it
of all amounts which shall at the time be or should have been deposited by the
Master Servicer in the Certificate Account and any other account or fund
maintained or thereafter received with respect to the Mortgage Loans.

            (c) If the Master Servicer receives a written notice of termination
pursuant to clause (ii) of Section 8.28(a) relating solely to an Event of
Default set forth in clause (v), (vi) or (x) of Section 8.28(b), and if the
Master Servicer provides the Trustee with the appropriate "request for proposal"
materials within five Business Days after receipt of such written notice of
termination, then the Trustee shall promptly thereafter (using such "request for
proposal" materials provided by the Master Servicer) solicit good faith bids for
the rights to service the Mortgage Loans under this Agreement from at least
three but no more than five Qualified Bidders or, if three Qualified Bidders
cannot be located, then from as many persons as the Trustee can determine are
Qualified Bidders. At the Trustee's request, the Master Servicer shall supply
the Trustee with the names of Persons from whom to solicit such bids. In no
event shall the Trustee be responsible if less than three Qualified Bidders
submit bids for the right to service the Mortgage Loans under this Agreement.

            (d) Each bid proposal shall require any Successful Bidder, as a
condition of its bid, to enter into this Agreement as successor Master Servicer,
and to agree to be bound by the terms hereof and the terms of the Primary
Servicing Agreements, not later than 30 days after termination of the Master
Servicer hereunder. The Trustee shall select the Qualified Bidder with the
highest cash bid (or such other Qualified Bidder as the Master Servicer may
direct) (the "Successful Bidder") to act as successor Master Servicer hereunder.
The Trustee shall direct the Successful Bidder to enter into this Agreement as
successor Master Servicer pursuant to the terms hereof, and in connection
therewith to deliver the amount of the Successful Bidder's cash bid to the
Trustee by wire transfer of immediately available funds to an account specified
by the Trustee no later than 10:00 a.m. New York City time on the date specified
for the assignment and assumption of the servicing rights hereunder.

            (e) Upon the assignment and acceptance of the servicing rights
hereunder to and by the Successful Bidder and receipt of such cash bid, the
Trustee shall remit or cause to be remitted to the terminated Master Servicer
the amount of such cash bid received from the Successful Bidder (net of all
out-of-pocket expenses incurred in connection with obtaining such bid and
transferring servicing) by wire transfer of immediately available funds to an
account specified by the terminated Master Servicer no later than 1:00 p.m. New
York City time on the date specified for the assignment and assumption of the
servicing rights hereunder.

            (f) If the Successful Bidder has not entered into this Agreement as
successor Master Servicer within 30 days after the termination of the Master
Servicer hereunder or no Successful Bidder was identified within such 30-day
period, the Trustee shall have no further obligations under Section 8.29(c) and
may act or may select another successor to act as Master Servicer hereunder in
accordance with Section 8.29(b).

            (g) Notwithstanding anything to the contrary in this Section 8.29,
the successor master servicer must assume all of the obligations of the
terminated Master Servicer under the Primary Servicing Agreements as a condition
precedent to its becoming Master Servicer hereunder.

            Section 8.30 Certain Matters Relating to Certain Mortgage Loans. (a)
The Mortgage Loan documents relating to the Cross-Collateralized Mortgage Loans
identified as Mortgage Loan Nos. 62 and 63 (as so identified on the Schedule IV
hereto) provide that, in connection with a release of either one of these
properties, the lender is permitted in its discretion to require the related
Mortgagors to pay a fee equal to 15% of the outstanding principal balance of the
loan being prepaid, which amount will be applied toward the reduction of the
principal balance of the Mortgage Loan for which the Mortgaged Property has not
been released. The Master Servicer and Special Servicer, as applicable, shall
require the payment of such 15% fee in connection with any such release.

            (b) The Mortgage Loan documents relating to each of Mortgage Loans
Nos. 69, 82, 83, 84, 92, 103, 106, 114 and 120 (as so identified on the Schedule
III hereto), provide that the lender under such Mortgage Loan has the option, on
a date set forth in such Mortgage Loan documents, to offer the related Mortgagor
an "adjusted interest rate" or declare the Mortgage Loan due and payable. With
respect to each such Mortgage Loan, the Master Servicer shall declare such
Mortgage Loan due and payable in full on such date.

            (c) With respect to the Mortgage Loan No. 3 (as so identified on the
Schedule IV hereto), the Master Servicer shall require the related Mortgagor to
maintain all required insurance coverage with Qualified Insurers.

            (d) With respect to the Mortgage Loan No. 3 (as so identified on the
Schedule IV hereto), to the extent permitted by the related Loan Documents, the
Master Servicer shall request that the Mortgagor provide quarterly operating
statements in addition to annual statements.

                                   ARTICLE IX

  ADMINISTRATION AND SERVICING OF SPECIALLY SERVICED MORTGAGE LOANS BY SPECIAL
                                    SERVICER

            Section 9.1 Duties of Special Servicer. (a) Subject to the express
provisions of this Agreement, for and on behalf of the Certificateholders, the
Trustee and, solely as it relates to the One Seaport Plaza Loan Pair, for the
benefit of the holder of the related One Seaport Plaza Companion Loan, the
Special Servicer shall service the Specially Serviced Mortgage Loans and manage
the related REO Properties in accordance with the provisions of this Agreement
and the Servicing Standard (subject to the servicing of the Woodfield Pari Passu
Loan by the 2002-HQ Master Servicer and the 2002-HQ Special Servicer in
accordance with the 2002-HQ Pooling and Servicing Agreement and (in the event
that (i) the Lead One Seaport Plaza Companion Loan is deposited into the Other
Securitization and (ii) the Depositor elects that the One Seaport Plaza Loan
Pair should be specially serviced by the Other Special Servicer pursuant to the
terms of the Other Pooling and Servicing Agreement) subject to the servicing of
the One Seaport Plaza Pari Passu Loan by the Other Special Servicer in
accordance with the terms of the Other Pooling and Servicing Agreement). Certain
of the provisions of this Article IX make explicit reference to their
applicability to Mortgage Loans and any One Seaport Plaza Companion Loan;
notwithstanding such explicit references, references in this Article IX to
"Mortgage Loans" shall be construed, unless otherwise specified, to refer also
to such One Seaport Plaza Companion Loan (but any other terms that are defined
in Article I and used in this Article IX shall be construed according to such
definitions without regard to this sentence).

            (b) The Special Servicer shall cooperate with the Master Servicer
and provide the Master Servicer with the information reasonably requested by the
Master Servicer, in writing, to the extent required to allow the Master Servicer
to perform its servicing obligations with respect to the Specially Serviced
Mortgage Loans hereunder; provided, however, that (i) the Special Servicer shall
not be required to produce any ad hoc reports or incur any unusual expense or
effort in connection therewith and (ii) if the Special Servicer elects to
provide such ad hoc reports requested by the Master Servicer, the Special
Servicer may require the Master Servicer to pay a reasonable fee to cover the
costs of the preparation thereof. The Special Servicer's obligations with
respect to the servicing of any Specially Serviced Mortgage Loan and any related
REO Properties shall terminate when such Specially Serviced Mortgage Loan has
become a Rehabilitated Mortgage Loan, unless and until another Servicing
Transfer Event with respect to such Rehabilitated Mortgage Loan occurs.

            (c) The Special Servicer shall send a written notice to the Master
Servicer and the Paying Agent within two Business Days after becoming aware that
a Mortgage Loan has become a Rehabilitated Mortgage Loan, which notice shall
identify the applicable Mortgage Loan. Upon the receipt of such notice by the
Master Servicer and the Paying Agent, such Mortgage Loan shall become a
Rehabilitated Mortgage Loan and will be serviced by the Master Servicer.

            (d) Upon the occurrence of a Servicing Transfer Event with respect
to a Mortgage Loan and upon the reasonable request of the Special Servicer, the
Master Servicer shall mark its records for such Mortgage Loan to cause any
monthly statements for amounts due on such Mortgage Loan to be sent thereafter
to the Special Servicer rather than the related Mortgagor. Upon receipt of any
such monthly statement, the Special Servicer shall, within two Business Days,
advise the Master Servicer of any changes to be made, and return the monthly
statement to the Master Servicer. The Master Servicer shall thereafter promptly
send the corrected monthly statement to the Mortgagor. If a Mortgage Loan
becomes a Rehabilitated Mortgage Loan, the Master Servicer shall send the
monthly statement to the Mortgagor as it did before such Mortgage Loan became a
Specially Serviced Mortgage Loan.

            (e) All amounts collected by the Master Servicer with respect to a
Specially Serviced Mortgage Loan (other than a Mortgage Loan that has become an
REO Mortgage Loan and a Specially Serviced Mortgage Loan that is a One Seaport
Plaza Companion Loan) shall be deposited in the Certificate Account and all
amounts collected by the Master Servicer with respect to a Specially Serviced
Mortgage Loan that is a One Seaport Plaza Companion Loan shall be deposited in
the related One Seaport Plaza Companion Loan Custodial Account. The Master
Servicer shall within two Business Days after receipt of any such payment,
notify the Special Servicer of the receipt of such payment and the amount
thereof. The Special Servicer shall, within two Business Days thereafter,
instruct the Master Servicer in writing how to apply such payment (with the
application of such payments to be made in accordance with the related Mortgage
Loan documents (including the One Seaport Plaza Intercreditor Agreement) or in
accordance with this Agreement, as applicable).

            (f) After the occurrence of any Servicing Transfer Event with
respect to any one or more Mortgage Loans that are the subject of any
Environmental Insurance Policy, (i) the Special Servicer shall monitor the dates
by which any claim must be made or action must be taken under such Environmental
Insurance Policy to achieve the payment of all amounts thereunder to which the
Trust is entitled in the event the Special Servicer has actual knowledge of any
event giving rise to a claim under such Environmental Insurance Policy (an
"Insured Environmental Event") and (ii) if the Special Servicer has actual
knowledge of an Insured Environmental Event with respect to such Mortgage Loan,
the Special Servicer shall take reasonable actions as are in accordance with the
Servicing Standard and the terms and conditions of the related Environmental
Insurance Policy to make a claim thereunder and achieve the payment of all
amounts to which the Trust is entitled thereunder. Any legal fees or other
out-of-pocket costs incurred in accordance with the Servicing Standard in
connection with any such claim shall be paid by, and reimbursable to, the Master
Servicer as a Servicing Advance. All extraordinary expenses (but not ordinary
and routine or anticipated expenses) incurred by the Special Servicer in
fulfilling its obligations under this Section 9.1 shall be paid by the Trust.

            Section 9.2 Fidelity Bond and Errors and Omissions Insurance Policy
of Special Servicer. The Special Servicer, at its expense, shall maintain in
effect a Servicer Fidelity Bond and a Servicer Errors and Omissions Insurance
Policy. The Servicer Errors and Omissions Insurance Policy and Servicer Fidelity
Bond shall be issued by a Qualified Insurer (unless the Special Servicer self
insures as provided below) and be in form and amount consistent with the
Servicing Standard. In the event that any such Servicer Errors and Omissions
Insurance Policy or Servicer Fidelity Bond ceases to be in effect, the Special
Servicer shall obtain a comparable replacement policy or bond from an insurer or
issuer meeting the requirements set forth above as of the date of such
replacement. So long as the long-term rating of the Special Servicer is not less
than two rating categories (ignoring pluses or minuses) lower than the highest
rating of the Certificates, but in any event not less than "A" as rated by Fitch
and "BBB" as rated by S&P, the Special Servicer may self-insure for the Servicer
Fidelity Bond and the Servicer Error and Omissions Insurance Policy.

            Section 9.3 Sub-Servicers. The Special Servicer shall have the right
to use a Sub-Servicer on the same terms and conditions as those set forth in
Section 8.4 for a Sub-Servicer of the Master Servicer; provided, however, that
the Special Servicer shall not use a Sub-Servicer unless it shall have received
a Rating Agency Confirmation from Fitch that such appointment will not in and of
itself result in the withdrawal, downgrade, or qualification, as applicable, of
the then-current rating assigned by such Rating Agency to any Class of
Certificates then rated by such Rating Agency, provided that this requirement
shall not prevent any special servicer from hiring an Independent Contractor or
an agent to assist it in the performance of its duties hereunder. The Special
Servicer shall notify the Master Servicer and Trustee of the appointment of any
Sub-Servicer of the Special Servicer. Notwithstanding the foregoing, no more
than 25% (by Principal Balance) of the Specially Serviced Mortgage Loans may be
sub-serviced at any time. Each Sub-Servicing Agreement between the Special
Servicer and a Sub-Servicer shall provide that such Sub-Servicer shall not
foreclose on or modify any Mortgage Loan without the written consent of the
Special Servicer.

            Section 9.4 Special Servicer General Powers and Duties. (a) Subject
to the other terms and provisions of this Agreement, the Special Servicer is
hereby authorized and empowered when the Special Servicer believes it
appropriate in accordance with the Servicing Standard, to take any and all the
actions with respect to Specially Serviced Mortgage Loans which the Master
Servicer may perform as set forth in Section 8.3(a), including (i) to execute
and deliver, on behalf of itself or the Trust (or holder of a One Seaport Plaza
Companion Loan, as applicable), any and all instruments of satisfaction or
cancellation, or of partial or full release or discharge and all other
comparable instruments, with respect to the Specially Serviced Mortgage Loans
and with respect to the related REO Properties and (ii) to effectuate
foreclosure or other conversion of the ownership of any REO Property securing a
Mortgage Loan. The Trustee shall execute on the Closing Date a Power of Attorney
in the form of Exhibit S-2 hereto and shall furnish the Special Servicer from
time to time, upon request, with any additional powers of attorney of the Trust,
empowering the Special Servicer to take such actions as it determines to be
reasonably necessary to comply with its servicing, administrative and management
duties hereunder, and the Trustee shall execute and deliver or cause to be
executed and delivered such other documents as a Special Servicing Officer may
request, that are necessary or appropriate to enable the Special Servicer to
service, administer and manage the Specially Serviced Mortgage Loans and carry
out its duties hereunder, in each case as the Special Servicer determines is in
accordance with the Servicing Standard and the terms of this Agreement; provided
that, prior to initiating any proceedings in any court of law or equity (but not
defending any proceedings in any court of law or equity) or instituting any
proceeding to foreclose on any Mortgaged Property in the name of the Trust in
any state, the Special Servicer shall notify the Trustee in writing and not
institute or initiate any such proceedings for a period of five Business Days
from the date of its delivery of such notice to the Trustee, unless the Special
Servicer reasonably believes that such action should be taken in less than five
Business Days to preserve the property of the Trust for the benefit of
Certificateholders, and the Trustee may within five Business Days of its receipt
of such notice advise the Special Servicer that it has received an Opinion of
Counsel (the cost of which shall be an expense of the Trust) from an attorney
duly licensed to practice law in the state where the related Mortgaged Property
or REO Property is located, that it is likely that the laws of the state in
which said action is to be taken either prohibit such action if taken in the
name of the Trust or that the Trust would be adversely affected under the "doing
business" or tax laws of such state if such action is taken in its name;
provided, further, that the Special Servicer shall not be liable to the extent
that it relies on the advice provided in such Opinion of Counsel. Upon receipt
of any such advice from the Trustee, the Special Servicer shall take such action
in the name of such Person or Persons, in trust for the Trust (or holder of a
One Seaport Plaza Companion Loan, if applicable), as shall be consistent with
the Opinion of Counsel obtained by the Trustee. Such Person or Persons shall
acknowledge in writing that such action is being taken by the Special Servicer
in the name of the Trust (or holder of a One Seaport Plaza Companion Loan, if
applicable). In the performance of its duties hereunder, the Special Servicer
shall be an independent contractor and shall not, except in those instances
where it is, after notice to the Trustee as provided above, taking action in the
name of the Trust (or holder of a One Seaport Plaza Companion Loan, if
applicable), be deemed to be the agent of the Trust (or holder of a One Seaport
Plaza Companion Loan, as applicable). The Special Servicer shall indemnify the
Trustee for any loss, liability or reasonable expense (including attorneys'
fees) incurred by the Trustee or any director, officer, employee, agent or
Controlling Person of it or its affiliates in connection with any negligent or
intentional misuse of the foregoing powers of attorney furnished to the Special
Servicer by the Trustee. Such indemnification shall survive the resignation or
termination of the Special Servicer hereunder, the resignation or termination of
the Trustee and the termination of this Agreement. The Special Servicer shall
not have any responsibility or liability for any act or omission of the Trustee,
the Master Servicer or the Depositor that is not attributable to the failure of
the Special Servicer to perform its obligations hereunder. The Special Servicer
may conclusively rely on any advice of counsel rendered in a Nondisqualification
Opinion.

            (b) In servicing and administering the Specially Serviced Mortgage
Loans and managing any related REO Properties, the Special Servicer shall employ
procedures consistent with the Servicing Standard. The Special Servicer shall
conduct, or cause to be conducted, inspections, at its own expense, of the
Mortgaged Properties relating to Specially Serviced Mortgage Loans at such times
and in such manner as shall be consistent with the Servicing Standard; provided
that the Special Servicer shall conduct, or cause to be conducted, inspections
of the Mortgaged Properties relating to Specially Serviced Mortgage Loans at
least once during each twelve (12) month period that ends on June 30 of any
calendar year (commencing with the twelve (12) month period ending June 30,
2003); provided, further, that the Special Servicer shall, at the expense of the
Trust, inspect or cause to be inspected each Mortgaged Property related to a
Mortgage Loan that is delinquent for sixty (60) days in the payment of any
amounts due under such Mortgage Loan. If the Special Servicer shall have
conducted, or caused to be conducted, an inspection pursuant to the second
proviso of the preceding sentence, the Special Servicer shall not be obligated
to conduct or cause to be conducted another inspection with respect to such
Mortgaged Property until the twelve (12) month period commencing on the
following June 30. The Special Servicer shall provide to the Master Servicer
(who shall provide, solely as it relates to the One Seaport Plaza Loan Pair, to
the holder of the related One Seaport Plaza Companion Loan) and the Operating
Adviser (and, solely with respect to the One Seaport Plaza Pari Passu Loan, the
One Seaport Plaza Operating Adviser, if any) copies of the Inspection Reports
relating to such inspections as soon as practicable after the completion of any
inspection.

            (c) Pursuant to the One Seaport Plaza Intercreditor Agreement, each
owner of a One Seaport Plaza Companion Loan has agreed that the Master Servicer
and the related Special Servicer are authorized and obligated to service and
administer the One Seaport Plaza Companion Loan pursuant to this Agreement until
such time that the Lead One Seaport Plaza Companion Loan is deposited into a
different commercial mortgage securitization (the "Other Securitization"), at
which point the One Seaport Plaza Pari Passu Loan may, at the option of the
Depositor and subject to receipt of Rating Agency Confirmation, be specially
serviced (if applicable) by the special servicer of the Other Securitization
(the "Other Special Servicer"). Notwithstanding anything herein to the contrary,
the parties hereto acknowledge and agree that the Special Servicer's obligations
and responsibilities hereunder and the Special Servicer's authority with respect
to the One Seaport Plaza Pari Passu Loan are limited by and subject to the terms
of the One Seaport Plaza Intercreditor Agreement and (upon the exercise by the
Depositor of the option set forth in the preceding sentence) the rights of the
Other Special Servicer with respect thereto under the pooling and servicing
agreement relating to the Other Securitization (the "Other Pooling and Servicing
Agreement"). The Special Servicer shall use reasonable efforts consistent with
the Servicing Standard to monitor the special servicing of the One Seaport Plaza
Pari Passu Loan by the Other Special Servicer pursuant to the Other Pooling and
Servicing Agreement and shall enforce the rights of the Trustee (as holder of
the One Seaport Plaza Pari Passu Loan) under the Pooling and Servicing
Agreement. The Special Servicer shall take such actions as it shall deem
reasonably necessary to facilitate the servicing of the One Seaport Plaza Pari
Passu Loan by the Other Special Servicer including, but not limited to,
delivering appropriate Requests for Release to the Trustee and Custodian (if
any) in order to deliver any portion of the related Mortgage File to the master
servicer of the Other Securitization or the Other Special Servicer.

            (d) Pursuant to the Woodfield Intercreditor Agreement, the owner of
the Woodfield Pari Passu Loan has agreed that such owner's rights in, to and
under the Woodfield Pari Passu Loan are subject to the servicing and all other
rights of the 2002-HQ Master Servicer and the 2002-HQ Special Servicer and the
2002-HQ Master Servicer and the 2002-HQ Special Servicer are authorized and
obligated to service and administer the Woodfield Pari Passu Loan pursuant to
the 2002-HQ Pooling and Servicing Agreement. Notwithstanding anything herein to
the contrary, the parties hereto acknowledge and agree that the Special
Servicer's obligations and responsibilities hereunder and the Special Servicer's
authority with respect to the Woodfield Pari Passu Loan are limited by and
subject to the terms of the Woodfield Intercreditor Agreement and the rights of
the 2002-HQ Master Servicer and the 2002-HQ Special Servicer with respect
thereto under the 2002-HQ Pooling and Servicing Agreement. The Special Servicer
shall take such actions as it shall deem reasonably necessary to facilitate the
servicing of the Woodfield Pari Passu Loan by the 2002-HQ Master Servicer and
the 2002-HQ Special Servicer including, but not limited to, delivering
appropriate Requests for Release to the Trustee and Custodian (if any) in order
to deliver any portion of the related Mortgage File to the 2002-HQ Master
Servicer or 2002-HQ Special Servicer under the 2002-HQ Pooling and Servicing
Agreement.

            Section 9.5 "Due-on-Sale" Clauses; Assignment and Assumption
Agreements; Modifications of Specially Serviced Mortgage Loans;
Due-On-Encumbrance Clauses. Subject to the limitations of Section 12.3, the
Special Servicer shall have the following duties and rights:

            (a) If any Specially Serviced Mortgage Loan contains a provision in
the nature of a "due-on-sale" clause, which by its terms:

            (i) provides that such Specially Serviced Mortgage Loan shall (or
      may at the Mortgagee's option) become due and payable upon the sale or
      other transfer of an interest in the related Mortgaged Property, or

            (ii) provides that such Specially Serviced Mortgage Loan may not be
      assumed without the consent of the related mortgagee in connection with
      any such sale or other transfer,

then, the Special Servicer, on behalf of the Trust, shall, after consultation
with the Operating Adviser (and, solely with respect to the One Seaport Plaza
Pari Passu Loan, the One Seaport Plaza Operating Adviser, if any) and in
accordance with the REMIC Provisions, take such actions as it deems to be in the
best economic interest of the Trust in accordance with the Servicing Standard,
and may waive or enforce any due-on-sale clause contained in the related
Mortgage Note or Mortgage; provided, however, that if the Principal Balance of
such Mortgage Loan at such time equals or exceeds 5% of the Aggregate
Certificate Balance or is one of the then current top 10 loans (by Principal
Balance) in the pool, then prior to waiving the effect of such provision, the
Special Servicer shall obtain Rating Agency Confirmation regarding such waiver.
In connection with the request for such consent, the Special Servicer shall
prepare and deliver to Fitch and S&P a memorandum outlining its analysis and
recommendation in accordance with the Servicing Standard, together with copies
of all relevant documentation. The Special Servicer shall also prepare and
provide Fitch and S&P with such memorandum and documentation for all transfer,
assumption and encumbrance consents granted for Mortgage Loans below the
threshold set forth above, but for which the Special Servicer's decision will be
sufficient and a Rating Agency Confirmation is not required. As to any Mortgage
Loan that is not a Specially Serviced Mortgage Loan and contains a provision in
the nature of a "due-on-sale" clause, the Special Servicer shall have the rights
and duties set forth in Section 8.7(b). The Special Servicer shall be entitled
to 100% of all assumption fees in connection with Specially Serviced Mortgage
Loans.

            After notice to the Operating Adviser (and, solely with respect to
the One Seaport Plaza Pari Passu Loan, the One Seaport Plaza Operating Adviser,
if any), the Special Servicer is also authorized to take or enter into an
assignment and assumption agreement from or with the Person to whom such
property has been or is about to be conveyed, and/or to release the original
Mortgagor from liability upon the Specially Serviced Mortgage Loan and
substitute the new Mortgagor as obligor thereon; provided that except as
otherwise permitted by Section 9.5(c), any such assignment and assumption or
substitution agreement shall contain no terms that could result in an Adverse
REMIC Event. To the extent permitted by law, the Special Servicer shall enter
into an assumption or substitution agreement that is required under the related
Mortgage Loan documents (either as a matter of right or upon satisfaction of
specified conditions) and shall otherwise enter into any assumption or
substitution agreement only if entering into such assumption or substitution
agreement is consistent with the Servicing Standard. The Special Servicer shall
not condition approval of any request for assumption of a Mortgage Loan on an
increase in the interest rate of such Mortgage Loan. The Special Servicer shall
notify the Master Servicer of any such assignment and assumption or substitution
agreement and the Special Servicer shall forward to the Trustee the original of
such agreement, which original shall be added by the Trustee to the related
Mortgage File and shall, for all purposes, be considered a part of such Mortgage
File to the same extent as all other documents and instruments constituting a
part thereof.

            (b) In connection with any assignment and assumption of a Specially
Serviced Mortgage Loan, in no event shall the Special Servicer consent to the
creation of any lien on a Mortgaged Property that is senior to, or on a parity
with, the lien of the related Mortgage. Nothing in this Section 9.5 shall
constitute a waiver of the Trustee's right, as the mortgagee of record, to
receive notice of any assignment and assumption of a Specially Serviced Mortgage
Loan, any sale or other transfer of the related Mortgaged Property or the
creation of any lien or other encumbrance with respect to such Mortgaged
Property.

            (c) Subject to the Servicing Standard and Section 9.39, and the
rights and duties of the Master Servicer under Section 8.18, the Special
Servicer may enter into any modification, waiver or amendment (including,
without limitation, the substitution or release of collateral or the pledge of
additional collateral) of the terms of any Specially Serviced Mortgage Loan,
including any modification, waiver or amendment to (i) reduce the amounts owing
under any Specially Serviced Mortgage Loan by forgiving principal, accrued
interest and/or any Prepayment Premium, (ii) reduce the amount of the Scheduled
Payment on any Specially Serviced Mortgage Loan, including by way of a reduction
in the related Mortgage Rate, (iii) forbear in the enforcement of any right
granted under any Mortgage Note or Mortgage relating to a Specially Serviced
Mortgage Loan, (iv) extend the Maturity Date of any Specially Serviced Mortgage
Loan and/or (v) accept a principal prepayment on any Specially Serviced Mortgage
Loan during any period during which voluntary Principal Prepayments are
prohibited, provided, in the case of any such modification, waiver or amendment,
that (A) the related Mortgagor is in default with respect to the Specially
Serviced Mortgage Loan or, in the reasonable judgment of the Special Servicer,
such default is reasonably foreseeable, (B) in the reasonable judgment of the
Special Servicer, such modification, waiver or amendment would increase the
recovery on the Specially Serviced Mortgage Loan to Certificateholders on a net
present value basis (the relevant discounting of amounts that will be
distributable to Certificateholders to be performed at related Mortgage Rate)
(as demonstrated in writing by the Special Servicer to the Trustee and the
Paying Agent), (C) such modification, waiver or amendment would not cause an
Adverse REMIC Event to occur, and (D) if notice to the Operating Adviser (and,
solely with respect to the One Seaport Plaza Pari Passu Loan, the One Seaport
Plaza Operating Adviser, if any) of such modification, waiver or amendment is
required pursuant to Section 9.39, the Special Servicer has made such notice.

            In no event, however, shall the Special Servicer (i) extend the
Maturity Date of a Specially Serviced Mortgage Loan beyond a date that is two
years prior to the Final Rated Distribution Date or (ii) if the Specially
Serviced Mortgage Loan is secured by a ground lease, extend the Maturity Date of
such Specially Serviced Mortgage Loan unless the Special Servicer gives due
consideration to the remaining term of such ground lease. The Special Servicer
shall not extend the Maturity Date of any Mortgage Loan secured by a Mortgaged
Property covered by a group secured creditor impaired property environmental
insurance policy for more than five years beyond such Mortgage Loan's Maturity
Date unless a new Phase I Environmental Report indicates that there is no
environmental condition or the Mortgagor obtains, at its expense, an extension
of such policy on the same terms and conditions to cover the period through five
years past the extended Maturity Date, provided that, (i) if such Mortgage Loan
is secured by a ground lease, the Special Servicer shall give due consideration
to the remaining term of the ground lease and (ii) in no case shall the Maturity
Date of any such Mortgage Loan be extended past a date that is two years prior
to the Final Rated Distribution Date.

            The determination of the Special Servicer contemplated by clause (B)
of the proviso to the first paragraph of this Section 9.5(c) shall be evidenced
by an Officer's Certificate certifying the information in the proviso to the
first paragraph under this subsection (c).

            (d) In the event the Special Servicer intends to permit a Mortgagor
to substitute collateral for all or any portion of a Mortgaged Property pursuant
to Section 9.5(c) or pledge additional collateral for the Mortgage Loan pursuant
to Section 9.5(c), if the security interest of the Trust or the holder of the
One Seaport Plaza Companion Loan in such collateral can only be perfected by
possession, or if such collateral requires special care or protection, then
prior to agreeing to such substitution or addition of collateral, the Special
Servicer shall make arrangements for such possession, care or protection, and
prior to agreeing to such substitution or addition of collateral (or such
arrangement for possession, care or protection) shall obtain the prior written
consent of the Trustee with respect thereto (which consent shall not be
unreasonably withheld, delayed or conditioned); provided, however, that the
Trustee shall not be required (but has the option) to consent to any
substitution or addition of collateral or to hold any such collateral which will
require the Trustee to undertake any additional duties or obligations or incur
any additional expense. Notwithstanding the foregoing, to the extent not
inconsistent with the related Mortgage Loan documents, the Special Servicer will
not permit a Mortgagor to substitute collateral for any portion of the Mortgaged
Property unless it shall have received a Rating Agency Confirmation in
connection therewith, the costs of which to be payable by the related Mortgagor
to the extent provided for in the Mortgage Loan documents. If the Mortgagor is
not required to pay for the Rating Agency Confirmation, then such expense will
be paid by the Trust. Promptly upon receipt of notice of such unpaid expense,
regarding a Specially Serviced Mortgage Loan, the Special Servicer shall request
the related Seller to make such payment by deposit to the Certificate Account.

            (e) The Special Servicer will promptly deliver to the Master
Servicer, the Operating Adviser (and, solely with respect to the One Seaport
Plaza Pari Passu Loan, the One Seaport Plaza Operating Adviser, if any), the
Trustee, the Paying Agent and the Rating Agencies a notice, specifying any such
assignments and assumptions, modifications, waivers or amendments, such notice
identifying the affected Specially Serviced Mortgage Loan. Such notice shall set
forth the reasons for such waiver, modification, or amendment (including, but
not limited to, information such as related income and expense statements, rent
rolls, occupancy status, property inspections, and an internal or external
appraisal performed in accordance with MAI standards and methodologies (and, if
done externally, the cost of such appraisal shall be recoverable as a Servicing
Advance subject to the provisions of Section 4.4 hereof)). The Special Servicer
shall also deliver to the Trustee (or the Custodian), for deposit in the related
Mortgage File, an original counterpart of the agreement relating to such
modification, waiver or amendment promptly following the execution thereof.

            (f) No fee described in this Section shall be collected by the
Special Servicer from the Mortgagor (or on behalf of the Mortgagor) in
conjunction with any consent or any modification, waiver or amendment of the
Mortgage Loan if the collection of such fee would cause such consent,
modification, waiver or amendment to be a "significant modification" of the
Mortgage Note within the meaning of Treasury Regulation ss. 1.860G-2(b). Subject
to the foregoing, the Special Servicer shall use its reasonable efforts, in
accordance with the Servicing Standard, to collect any modification fees and
other expenses connected with a permitted modification of a Mortgage Loan from
the Mortgagor. The Special Servicer shall be entitled to 100% of any
modification fees received in connection with a Specially Serviced Mortgage
Loan. The inability of the Mortgagor to pay any costs and expenses of a proposed
modification shall not impair the right of the Special Servicer, the Master
Servicer or the Trustee to be reimbursed by the Trust for such expenses
(including any cost and expense associated with the Opinion of Counsel referred
to in this Section).

            (g) The Special Servicer shall cooperate with the Master Servicer
(as provided in Section 8.7) in connection with assignments and assumptions of
Mortgage Loans that are not Specially Serviced Mortgage Loans, and shall be
entitled to receive 50% of any assumption fee paid by the related Mortgagor in
connection with an assignment and assumption executed pursuant to Section 8.7(a)
and 50% of any assumption fee paid by the related Mortgagor in connection with
an assignment and assumption executed pursuant to Section 8.7(d). The Special
Servicer shall be entitled to 100% of any assumption fee received in connection
with a Specially Serviced Mortgage Loan.

            (h) Notwithstanding anything herein to the contrary, (i) the Special
Servicer shall not have any right or obligation to consult with or to seek
and/or obtain consent or approval from the Operating Adviser (and, solely with
respect to the One Seaport Plaza Pari Passu Loan, the One Seaport Plaza
Operating Adviser, if any) prior to acting, and provisions of this Agreement
requiring such shall be of no effect, if the Operating Adviser (and, solely with
respect to the One Seaport Plaza Pari Passu Loan, the One Seaport Plaza
Operating Adviser, if any) resigns or is removed, during the period following
such resignation or removal until a replacement is elected and (ii) no advice,
direction or objection from or by the Operating Adviser (and, solely with
respect to the One Seaport Plaza Pari Passu Loan, the One Seaport Plaza
Operating Adviser, if any), as contemplated by this Agreement, may (and the
Special Servicer shall ignore and act without regard to any such advice,
direction or objection that the Special Servicer has determined, in its
reasonable good faith judgment would) (A) require or cause the Special Servicer
to violate applicable law, the terms of any Mortgage Loan, any provision of this
Agreement or the REMIC Provisions, including the Special Servicer's obligation
to act in accordance with the Servicing Standard, (B) result in an Adverse REMIC
Event with respect to any REMIC Pool, (C) expose the Trust, the Depositor, the
Master Servicer, the Special Servicer, the Fiscal Agent, the Paying Agent or the
Trustee, or any of their respective Affiliates, officers, directors, employees
or agents, to any material claim, suit or liability, or (D) materially expand
the scope of the Special Servicer's responsibilities under this Agreement.

            (i) If any Specially Serviced Mortgage Loan which contains a
provision in the nature of a "due-on-encumbrance" clause, which by its terms:

            (i) provides that such Mortgage Loan shall (or may at the
      mortgagee's option) become due and payable upon the creation of any
      additional lien or other encumbrance on the related Mortgaged Property; or

            (ii) requires the consent of the mortgagee to the creation of any
      such additional lien or other encumbrance on the related Mortgaged
      Property,

            (j) then, for so long as such Mortgage Loan is included in the
Trust, the Special Servicer, on behalf of the Trustee as the mortgagee of
record, shall exercise (or, subject to Section 9.5, waive its right to exercise)
any right it may have with respect to such Mortgage Loan (x) to accelerate the
payments thereon, or (y) to withhold its consent to the creation of any such
additional lien or other encumbrance, in a manner consistent with the Servicing
Standard. Prior to waiving the effect of such provision with respect to a
Mortgage Loan, the Special Servicer shall obtain Rating Agency Confirmation
regarding such waiver; provided, however, that such Rating Agency Confirmation
shall only be required if the applicable Mortgage Loan (x) represents 2% or more
of the Stated Principal Balance of all of the Mortgage Loans held by the Trust
or is one of the 10 largest Mortgage Loans based on Stated Principal Balance and
(y) such Mortgage Loan has a Loan-to-Value Ratio (which includes Junior
Indebtedness, if any) that is greater than or equal to 85% and a Debt Service
Coverage Ratio (which includes debt service on Junior Indebtedness, if any) that
is less than 1.2x.

            Section 9.6 Release of Mortgage Files. (a) Upon becoming aware of
the payment in full of any Specially Serviced Mortgage Loan, or the receipt by
the Special Servicer of a notification that payment in full will be escrowed in
a manner customary for such purposes, or the complete defeasance of a Mortgage
Loan, the Special Servicer will within 2 Business Days notify the Master
Servicer. The Special Servicer shall determine, in accordance with the Servicing
Standard, whether an instrument of satisfaction shall be delivered and, if the
Special Servicer determines that such instrument should be delivered, the
Special Servicer shall deliver written approval of such delivery to the Master
Servicer.

            (b) From time to time and as appropriate for the servicing or
foreclosure of any Specially Serviced Mortgage Loan or the management of the
related REO Property and in accordance with the Servicing Standard, the Trustee
shall execute or cause to be executed such documents as shall be prepared and
furnished to the Trustee by a Special Servicing Officer (in form reasonably
acceptable to the Trustee) and as are necessary for such purposes. The Trustee
or Custodian shall, upon request of the Special Servicer and delivery to the
Trustee or Custodian of a request for release signed by a Special Servicing
Officer substantially in the form of Exhibit C, release the related Mortgage
File to the Special Servicer. After the transfer of servicing with respect to
any Specially Serviced Mortgage Loan to the Special Servicer, in accordance with
the Servicing Standard, the Master Servicer shall notify, in writing, the
Mortgagor under each Specially Serviced Mortgage Loan transferred to the Special
Servicer, of such transfer.

            (c) Reserved.

            (d) The Special Servicer shall, with respect to any Rehabilitated
Mortgage Loan, release to the Master Servicer all documents and instruments in
the possession of the Special Servicer related to such Rehabilitated Mortgage
Loan. Prior to the transfer of servicing with respect to any Rehabilitated
Mortgage Loan to the Master Servicer in accordance with the Servicing Standard,
the Special Servicer shall notify, in writing, each Mortgagor under each
Rehabilitated Mortgage Loan of such transfer.

            Section 9.7 Documents, Records and Funds in Possession of Special
Servicer To Be Held for the Trustee. (a) The Special Servicer shall transmit to
the Trustee or Custodian such documents and instruments coming into the
possession of the Special Servicer as from time to time are required by the
terms hereof to be delivered to the Trustee. Any funds received by the Special
Servicer in respect of any Specially Serviced Mortgage Loan or any REO Property
or which otherwise are collected by the Special Servicer as Liquidation
Proceeds, Condemnation Proceeds or Insurance Proceeds in respect of any
Specially Serviced Mortgage Loan or any REO Property shall be transmitted to the
Master Servicer within one Business Day of receipt to the Certificate Account,
except that if such amounts relate to REO Income, they shall be deposited in the
REO Account. The Special Servicer shall provide access to information and
documentation regarding the Specially Serviced Mortgage Loans to the Trustee,
the Master Servicer, the Fiscal Agent, the Paying Agent, the Operating Adviser
(and, solely with respect to the One Seaport Plaza Pari Passu Loan, the One
Seaport Plaza Operating Adviser, if any) and their respective agents and
accountants at any time upon reasonable written request and during normal
business hours, provided that the Special Servicer shall not be required to take
any action or provide any information that the Special Servicer determines will
result in any material cost or expense to which it is not entitled to
reimbursement hereunder or will result in any material liability for which it is
not indemnified hereunder; provided, further, that the Trustee and the Paying
Agent shall be entitled to receive from the Special Servicer all such
information as the Trustee and the Paying Agent shall reasonably require to
perform their respective duties hereunder. In fulfilling such a request, the
Special Servicer shall not be responsible for determining whether such
information is sufficient for the Trustee's, the Master Servicer's, the Fiscal
Agent's, the Paying Agent's or the Operating Adviser's (or, if applicable, the
One Seaport Plaza Operating Adviser's) purposes.

            (b) The Special Servicer hereby acknowledges that the Trust (and/or
the holder of the related One Seaport Plaza Companion Loan, if the One Seaport
Plaza Loan Pair is involved) owns the Specially Serviced Mortgage Loans and all
Mortgage Files representing such Specially Serviced Mortgage Loans and all funds
now or hereafter held by, or under the control of, the Special Servicer that are
collected by the Special Servicer in connection with the Specially Serviced
Mortgage Loans (but excluding any Special Servicer Compensation and all other
amounts to which the Special Servicer is entitled hereunder); and the Special
Servicer agrees that all documents or instruments constituting part of the
Mortgage Files, and such funds relating to the Specially Serviced Mortgage Loans
which come into the possession or custody of, or which are subject to the
control of, the Special Servicer, shall be held by the Special Servicer for and
on behalf of the Trust (or the holder of the related One Seaport Plaza Companion
Loan, if the One Seaport Plaza Loan Pair is involved).

            (c) The Special Servicer also agrees that it shall not create, incur
or subject any Specially Serviced Mortgage Loans, or any funds that are required
to be deposited in any REO Account to any claim, lien, security interest,
judgment, levy, writ of attachment or other encumbrance, nor assert by legal
action or otherwise any claim or right of setoff against any Specially Serviced
Mortgage Loan or any funds, collected on, or in connection with, a Specially
Serviced Mortgage Loan.

            Section 9.8 Representations, Warranties and Covenants of the Special
Servicer. (a) The Special Servicer hereby represents and warrants to and
covenants with the Trustee, as of the Closing Date:

            (i) the Special Servicer is duly organized, validly existing and in
      good standing as a limited partnership under the laws of the State of
      Texas, and shall be in compliance with the laws of each State in which any
      Mortgaged Property (including any REO Property) which is, or is related to
      a Specially Serviced Mortgage Loan is located to the extent necessary to
      perform its obligations under this Agreement, except where the failure to
      so qualify or comply would not adversely affect the Special Servicer's
      ability to perform its obligations hereunder in accordance with the terms
      of this Agreement;

            (ii) the Special Servicer has the full power and authority to
      execute, deliver, perform, and to enter into and consummate all
      transactions and obligations contemplated by this Agreement. The Special
      Servicer has duly and validly authorized the execution, delivery and
      performance of this Agreement and this Agreement has been duly executed
      and delivered by the Special Servicer; and this Agreement, assuming the
      due authorization, execution and delivery thereof by the Depositor, the
      Trustee, the Fiscal Agent, the Paying Agent and the Master Servicer,
      evidences the valid and binding obligation of the Special Servicer
      enforceable against the Special Servicer in accordance with its terms
      subject, as to enforcement of remedies, to applicable bankruptcy,
      reorganization, insolvency, moratorium, receivership and other similar
      laws affecting creditors' rights generally as from time to time in effect,
      and to general principles of equity (regardless of whether such
      enforceability is considered in a proceeding in equity or at law);

            (iii) the execution and delivery of this Agreement, the consummation
      of the transactions contemplated hereby, and the fulfillment of or
      compliance with the terms and conditions of this Agreement will not (1)
      result in a breach of any term or provision of its charter or by-laws or
      (2) conflict with, result in a breach, violation or acceleration of, or
      result in a default under, the terms of any other material agreement or
      instrument to which it is a party or by which it may be bound, or any law,
      governmental rule, regulation, or judgment, decree or order applicable to
      it of any court, regulatory body, administrative agency or governmental
      body having jurisdiction over it, which materially and adversely affects
      its ability to perform its obligations under this Agreement;

            (iv) no litigation is pending or, to the best of the Special
      Servicer's knowledge, threatened, against it, the outcome of which, in the
      Special Servicer's reasonable judgment, could reasonably be expected to
      materially and adversely affect the execution, delivery or enforceability
      of this Agreement or its ability to service the Mortgage Loans or to
      perform any of its other obligations hereunder in accordance with the
      terms hereof; and

            (v) no consent, approval, authorization or order of any court or
      governmental agency or body is required for the execution, delivery and
      performance by it of, or compliance by it with, this Agreement, or the
      consummation of the transactions contemplated hereby, or if any such
      consent, approval, authorization or order is required, it has obtained the
      same or will obtain the same prior to the time necessary to perform its
      obligations under this Agreement, and, except to the extent in the case of
      performance, that its failure to be qualified as a foreign corporation or
      licensed in one or more states is not necessary for the performance by it
      of its obligations hereunder.

            (b) It is understood that the representations and warranties set
forth in this Section 9.8 shall survive the execution and delivery of this
Agreement.

            (c) Any cause of action against the Special Servicer arising out of
the breach of any representations and warranties made in this Section shall
accrue upon the giving of written notice to the Special Servicer by any of the
Trustee, the Master Servicer, the Paying Agent or the Fiscal Agent. The Special
Servicer shall give prompt notice to the Trustee, the Fiscal Agent, the Paying
Agent, the Depositor, the Operating Adviser (and, solely with respect to the One
Seaport Plaza Pari Passu Loan, the One Seaport Plaza Operating Adviser, if any)
and the Master Servicer of the occurrence, or the failure to occur, of any event
that, with notice, or the passage of time or both, would cause any
representation or warranty in this Section to be untrue or inaccurate in any
respect.

            Section 9.9 Standard Hazard, Flood and Comprehensive General
Liability Insurance Policies. (a) For all REO Property, the Special Servicer
shall use reasonable efforts, consistent with the Servicing Standard, to
maintain with a Qualified Insurer a Standard Hazard Insurance Policy which does
not provide for reduction due to depreciation in an amount which is not less
than the full replacement cost of the improvements of such REO Property or in an
amount not less than the unpaid Principal Balance plus all unpaid interest and
the cumulative amount of Servicing Advances (plus Advance Interest) made with
respect to such Mortgage Loan, whichever is less, but, in any event, in an
amount sufficient to avoid the application of any co-insurance clause. If the
improvements to the Mortgaged Property are in an area identified in the Federal
Register by the Federal Emergency Management Agency as having special flood
hazards (and such flood insurance has been made available), the Special Servicer
shall maintain a flood insurance policy meeting the requirements of the current
guidelines of the Federal Insurance Administration in an amount representing
coverage equal to the lesser of the then outstanding Principal Balance of the
Specially Serviced Mortgage Loan and unpaid Advances (plus Advance Interest) and
the maximum insurance coverage required under such current guidelines. It is
understood and agreed that the Special Servicer has no obligation to obtain
earthquake or other additional insurance on REO Property, except as required by
law and, nevertheless, at its sole option and at the Trust's expense, it (if
required at origination and is available at commercially reasonable rates) may
obtain such earthquake insurance. The Special Servicer shall use its reasonable
efforts, consistent with the Servicing Standard, to obtain a comprehensive
general liability insurance policy for all REO Properties. The Special Servicer
shall, to the extent available at commercially reasonable rates (as determined
by the Special Servicer in accordance with the Servicing Standard) and to the
extent consistent with the Servicing Standard, use its reasonable efforts to
maintain a Rent Loss Policy covering revenues for a period of at least twelve
(12) months and a comprehensive general liability policy with coverage
comparable to prudent lending requirements in an amount not less than $1 million
per occurrence. All applicable policies required to be maintained by the Special
Servicer pursuant to this Section 9.9(a) shall name the Trustee as loss payee
and be endorsed with a standard mortgagee clause. The costs of such insurance
shall be paid by the Master Servicer as a Servicing Advance pursuant to Section
4.2, subject to the provisions of Section 4.4 hereof.

            (b) Any amounts collected by the Special Servicer under any
insurance policies maintained pursuant to this Section 9.9 (other than amounts
to be applied to the restoration or repair of the REO Property) shall be
deposited into the applicable REO Account. Any cost incurred in maintaining the
insurance required hereby for any REO Property shall be a Servicing Advance,
subject to the provisions of Section 4.4 hereof.

            (c) Notwithstanding the above, the Special Servicer shall not be
required in any event to maintain or obtain insurance coverage beyond what is
reasonably available at a cost customarily acceptable and consistent with the
Servicing Standard. The Special Servicer shall notify the Trustee of any such
determination.

            The Special Servicer shall conclusively be deemed to have satisfied
its obligations as set forth in this Section 9.9 either (i) if the Special
Servicer shall have obtained and maintained a blanket insurance policy insuring
against hazard losses on all of the applicable REO Property serviced by it, it
being understood and agreed that such policy may contain a deductible clause on
terms substantially equivalent to those commercially available and maintained by
comparable servicers consistent with the Servicing Standard, and provided that
such policy is issued by a Qualified Insurer with a minimum claims paying
ability rating of at least "A" by Fitch and "A-" by S&P or otherwise approved by
the Rating Agencies or (ii) if the Special Servicer, provided that the rating of
such Person's long-term debt is not less than "A" by Fitch and "A-" by S&P;
self-insures for its obligations. In the event that the Special Servicer shall
cause any REO Property to be covered by such a blanket insurance policy, the
incremental cost of such insurance allocable to such REO Property (i.e., other
than any minimum or standby premium payable for such policy whether or not any
Mortgage Loan is then covered thereby), shall be paid by the Special Servicer,
at its option, or by the Master Servicer, as a Servicing Advance, subject to the
provisions of Section 4.4 hereof. If such policy contains a deductible clause,
the Special Servicer shall, if there shall not have been maintained on the
related Mortgaged Property a policy complying with this Section 9.9 and there
shall have been a loss that would have been covered by such policy, deposit in
the Certificate Account the amount not otherwise payable under such master force
placed or blanket insurance policy because of such deductible clause to the
extent that such deductible exceeds (i) the deductible under the related
Mortgage Loan or (ii) if there is no deductible limitation required under the
Mortgage Loan, the deductible amount with respect to insurance policies
generally available on properties similar to the related Mortgaged Property
which is consistent with the Servicing Standard, and deliver to the Trustee an
Officer's Certificate describing the calculation of such amount. In connection
with its activities as administrator and servicer of the Mortgage Loans, the
Special Servicer agrees to present, on its behalf and on behalf of the Trustee,
claims under any such master force placed or blanket insurance policy.

            Section 9.10 Presentment of Claims and Collection of Proceeds. The
Special Servicer will prepare and present or cause to be prepared and presented
on behalf of the Trustee all claims under the Insurance Policies with respect to
REO Property, and take such actions (including the negotiation, settlement,
compromise or enforcement of the insured's claim) as shall be necessary to
recover under such policies. Any proceeds disbursed to the Special Servicer in
respect of such policies shall be promptly remitted to the Certificate Account,
upon receipt, except for any amounts realized that are to be applied to the
repair or restoration of the applicable REO Property in accordance with the
Servicing Standard. Any extraordinary expenses (but not ordinary and routine or
anticipated expenses) incurred by the Special Servicer in fulfilling its
obligations under this Section 9.10 shall be paid by the Trust.

            Section 9.11 Compensation to the Special Servicer. (a) As
compensation for its activities hereunder, the Special Servicer shall be
entitled to (i) the Special Servicing Fee, (ii) the Liquidation Fee, (iii) the
Work-Out Fee and (iv) the Special Servicing Stand-by Fee. Such amounts, if any,
collected by the Special Servicer from the related Mortgagor shall be
transferred by the Special Servicer to the Master Servicer within one Business
Day of receipt thereof, and deposited by the Master Servicer in the Certificate
Account. The Special Servicer shall be entitled to receive a Liquidation Fee
from the proceeds received in connection with a full or partial liquidation (net
of related costs and expenses of such liquidation) of a Specially Serviced
Mortgage Loan or REO Property (whether arising pursuant to a sale, condemnation
or otherwise). With respect to each REO Mortgage Loan that is a successor to a
Mortgage Loan secured by two or more Mortgaged Properties, the reference to "REO
Property" in the preceding sentence shall be construed on a property-by-property
basis to refer separately to the acquired real property that is a successor to
each of such Mortgaged Properties, thereby entitling the Special Servicer to a
Liquidation Fee from the Liquidation Proceeds received in connection with a
final disposition of, and Condemnation Proceeds received in connection with,
each such acquired property as the Liquidation Proceeds related to that property
are received. The Special Servicer shall also be entitled to additional special
servicing compensation of an amount equal to the excess, if any, of the
aggregate Prepayment Interest Excess relating to Mortgage Loans which are
Specially Serviced Mortgage Loans which have received voluntary Principal
Prepayments not from Liquidation Proceeds or from modifications of Specially
Serviced Mortgage Loans for each Distribution Date over the aggregate Prepayment
Interest Shortfalls for such Mortgage Loans for such Distribution Date.

            (b) The Special Servicer shall be entitled to cause the Master
Servicer to withdraw (i) from the Certificate Account, the Special Servicer
Compensation in respect of each Mortgage Loan and (ii) from any One Seaport
Plaza Companion Loan Custodial Account, the Special Servicer Compensation to the
extent related solely to the related One Seaport Plaza Companion Loan. The
Special Servicer shall be required to pay all expenses incurred by it in
connection with its servicing activities hereunder and shall not be entitled to
reimbursement therefor except as expressly provided in this Agreement.

            (c) Additional Special Servicer Compensation in the form of net
interest or income on any REO Account, assumption fees, extension fees,
servicing fees, Modification Fees, forbearance fees, Late Fees and default
interest (net of amounts used to pay Advance Interest) or other usual and
customary charges and fees actually received from the Mortgagor in connection
with any Specially Serviced Mortgage Loan shall be retained by the Special
Servicer, to the extent not required to be deposited in the Certificate Account
pursuant to the terms of this Agreement (other than any such fees payable in
connection with the Woodfield Pari Passu Loan). The Special Servicer shall also
be permitted to receive 50% of all assumption fees collected with respect to
Mortgage Loans that are not Specially Serviced Mortgage Loans as provided in
Section 8.7(a) and 100% of all assumption fees collected with respect to
Mortgage Loans that are Specially Serviced Mortgage Loans as provided in Section
9.5(a) (other than any such fees payable in connection with the Woodfield Pari
Passu Loan). To the extent any component of Special Servicer Compensation is in
respect of amounts usually and customarily paid by Mortgagors, the Special
Servicer shall use reasonable good faith efforts to collect such amounts from
the related Mortgagor, and to the extent so collected, in full or in part, the
Special Servicer shall not be entitled to compensation for the portion so
collected therefor hereunder out of the Trust.

            Section 9.12 Realization Upon Defaulted Mortgage Loans. (a) The
Special Servicer, in accordance with the Servicing Standard and subject to
Section 9.4(a) and Section 9.36, shall use its reasonable efforts to foreclose
upon, repossess or otherwise comparably convert the ownership of Mortgaged
Properties securing such of the Specially Serviced Mortgage Loans as come into
and continue in default and as to which no satisfactory arrangements can be made
for collection of delinquent payments of such Mortgage Loan, the sale of such
Mortgage Loan in accordance with this Agreement or the modification of such
Mortgage Loan in accordance with this Agreement. In connection with such
foreclosure or other conversion of ownership, the Special Servicer shall follow
the Servicing Standard.

            (b) The Special Servicer shall not acquire any personal property
relating to any Specially Serviced Mortgage Loan pursuant hereto unless either:

            (i) such personal property is incidental to real property (within
      the meaning of Section 856(e)(1) of the Code) so acquired by the Special
      Servicer; or

            (ii) the Special Servicer shall have received a Nondisqualification
      Opinion (the cost of which shall be reimbursed by the Trust) to the effect
      that the holding of such personal property by any REMIC Pool will not
      cause the imposition of a tax on such REMIC Pool under the Code or cause
      such REMIC Pool to fail to qualify as a REMIC.

            (c) Notwithstanding anything to the contrary in this Agreement, the
Special Servicer shall not, on behalf of the Trust, obtain title to a Mortgaged
Property as a result of or in lieu of foreclosure or otherwise, and shall not
otherwise acquire possession of, or take any other action with respect to, any
Mortgaged Property, if, as a result of any such action the Trust would be
considered to hold title to, to be a "mortgagee-in-possession" of, or to be an
"owner" or "operator" of such Mortgaged Property within the meaning of CERCLA,
or any applicable comparable federal, state or local law, or a "discharger" or
"responsible party" thereunder, unless the Special Servicer has also previously
determined in accordance with the Servicing Standard, based on a Phase I
Environmental Report prepared by a Person (who may be an employee or affiliate
of the Master Servicer or the Special Servicer) who regularly conducts
environmental site assessments in accordance with the standards of FNMA in the
case of multi-family mortgage loans and customary servicing practices in the
case of commercial loans for environmental assessments, which report shall be
delivered to the Trustee, that:

            (i) such Mortgaged Property is in compliance with applicable
      Environmental Laws or, if not, after consultation with an environmental
      expert that taking such actions as are necessary to bring the Mortgaged
      Property in compliance therewith is reasonably likely to produce a greater
      recovery on a net present value basis than not taking such actions;

            (ii) taking such actions as are necessary to bring the Mortgaged
      Property in compliance with applicable Environmental Laws is reasonably
      likely to produce a greater recovery on a net present value basis than
      pursuing a claim under the Environmental Insurance Policy; and

            (iii) there are no circumstances or conditions present or threatened
      at such Mortgaged Property relating to the use, management, disposal or
      release of any hazardous substances, hazardous materials, hazardous
      wastes, or petroleum-based materials for which investigation, testing,
      monitoring, removal, clean-up or remediation could be required under any
      federal, state or local law or regulation, or that, if any such materials
      are present for which such action could be required, after consultation
      with an environmental expert taking such actions with respect to the
      affected Mortgaged Property is reasonably likely to produce a greater
      recovery on a net present value basis than not taking such actions (after
      taking into account the projected costs of such actions); provided,
      however, that such compliance pursuant to clause (i) and (ii) above or the
      taking of such action pursuant to this clause (iii) shall only be required
      to the extent that the cost thereof is a Servicing Advance of the Master
      Servicer pursuant to this Agreement, subject to the provisions of Section
      4.4 hereof.

            (d) The cost of the Phase I Environmental Report contemplated by
Section 9.12(c) may be treated as a Liquidation Expense, or in the event the
related Specially Serviced Mortgage Loan is not liquidated and a Final Recovery
Determination has been made with respect to such Specially Serviced Mortgage
Loan, the Master Servicer shall treat such cost as a Servicing Advance subject
to the provisions of Section 4.4 hereof; provided that, in the latter event, the
Special Servicer shall use its good faith reasonable business efforts to recover
such cost from the Mortgagor in connection with the curing of the default under
the Specially Serviced Mortgage Loan.

            (e) If the Special Servicer determines, pursuant to Section 9.12(c),
that taking such actions as are necessary to bring any Mortgaged Property into
compliance with applicable Environmental Laws, or taking such actions with
respect to the containment, removal, clean-up or remediation of hazardous
substances, hazardous materials, hazardous wastes, or petroleum-based materials
affecting any such Mortgaged Property, is not reasonably likely to produce a
greater recovery on a net present value basis than not taking such actions
(after taking into account the projected costs of such actions) or than not
pursuing a claim under the Environmental Insurance Policy, then the Special
Servicer shall take such action as it deems to be in the best economic interest
of the Trust (and the holder of the related One Seaport Plaza Companion Loan if
in connection with the One Seaport Plaza Loan Pair, taken as a collective
whole), including, without limitation, releasing the lien of the related
Mortgage. If the Special Servicer determines that a material possibility exists
that Liquidation Expenses with respect to Mortgaged Property (taking into
account the cost of bringing it into compliance with applicable Environmental
Laws) would exceed the Principal Balance of the related Mortgage Loan, the
Special Servicer shall not attempt to bring such Mortgaged Property into
compliance and shall not acquire title to such Mortgaged Property unless it has
received the written consent of the Trustee to such action.

            Notwithstanding any provision of this Agreement to the contrary, the
Special Servicer shall not foreclose on any Mortgaged Property in anticipation
of pursuing a claim under the related Environmental Insurance Policy, unless the
Special Servicer shall have first reviewed such Environmental Insurance Policy.

            (f) The Special Servicer shall have the right to determine, in
accordance with the Servicing Standard, the advisability of maintaining any
action with respect to any Specially Serviced Mortgage Loan, including, without
limitation, any action to obtain a deficiency judgment with respect to any
Specially Serviced Mortgage Loan.

            Section 9.13 Foreclosure. In the event that the Trust obtains,
through foreclosure on a Mortgage or otherwise, the right to receive title to a
Mortgaged Property, the Special Servicer, as its agent, shall direct the
appropriate party to deliver title to the REO Property to the Trustee or its
nominee.

            The Special Servicer may consult with counsel to determine when an
Acquisition Date shall be deemed to occur under the REMIC Provisions with
respect to the Mortgaged Property, the expense of such consultation being
treated as a Servicing Advance related to the foreclosure, subject to the
provisions of Section 4.4 hereof. The Special Servicer, on behalf of the Trust
(and the holder of the related One Seaport Plaza Companion Loan if in connection
with the One Seaport Plaza Loan Pair), shall sell the REO Property
expeditiously, but in any event within the time period, and subject to the
conditions, set forth in Section 9.15. Subject to Section 9.15, the Special
Servicer shall manage, conserve, protect and operate the REO Property for the
holders of beneficial interests in the Trust (and the holder of the related One
Seaport Plaza Companion Loan if in connection with the One Seaport Plaza Loan
Pair) solely for the purpose of its prompt disposition and sale.

            Section 9.14 Operation of REO Property. (a) The Special Servicer
shall segregate and hold all funds collected and received in connection with the
operation of each REO Property separate and apart from its own funds and general
assets and shall establish and maintain with respect to each REO Property one or
more accounts held in trust for the benefit of the Certificateholders (and the
holder of the related One Seaport Plaza Companion Loan if in connection with the
One Seaport Plaza Loan Pair) in the name of "LaSalle Bank National Association,
as Trustee for the Holders of Morgan Stanley Dean Witter Capital I Inc.
Commercial Mortgage Securities Inc. Commercial Mortgage Pass-Through
Certificates Series 2002-IQ2 and [the holder of any One Seaport Plaza Companion
Loan, as their interests may appear]" (each, an "REO Account"), which shall be
an Eligible Account. Amounts in any REO Account shall be invested in Eligible
Investments. The Special Servicer shall deposit all funds received with respect
to an REO Property in the applicable REO Account within two days of receipt. The
Special Servicer shall account separately for funds received or expended with
respect to each REO Property. All funds in each REO Account may be invested only
in Eligible Investments. The Special Servicer shall notify the Trustee and the
Master Servicer in writing of the location and account number of each REO
Account and shall notify the Trustee prior to any subsequent change thereof.

            (b) On or before each Special Servicer Remittance Date, the Special
Servicer shall withdraw from each REO Account and deposit in the Certificate
Account, the REO Income received or collected during the Collection Period
immediately preceding such Special Servicer Remittance Date on or with respect
to the related REO Properties and reinvestment income thereon; provided,
however, that (i) the Special Servicer may retain in such REO Account such
portion of such proceeds and collections as may be necessary to maintain in the
REO Account sufficient funds for the proper operation, management and
maintenance of the related REO Property, including, without limitation, the
creation of reasonable reserves for repairs, replacements, and necessary capital
improvements and other related expenses. The Special Servicer shall notify the
Master Servicer of all such deposits (and the REO Properties to which the
deposits relate) made into the Certificate Account and (ii) the Special Servicer
shall be entitled to withdraw from the REO Account and pay itself as additional
Special Servicing Compensation any interest or net reinvestment income earned on
funds deposited in the REO Account. The amount of any losses incurred in respect
of any such investments shall be for the account of the Special Servicer which
shall deposit the amount of such loss (to the extent not offset by income from
other investments) in the REO Account, out of its own funds immediately as
realized. If the Special Servicer deposits in any REO Account any amount not
required to be deposited therein, it may at any time withdraw such amount from
the REO Account, any provision herein to the contrary notwithstanding.

            (c) If the Trust acquires the Mortgaged Property, the Special
Servicer shall have full power and authority, in consultation with the Operating
Adviser (and, solely with respect to the One Seaport Plaza Pari Passu Loan, the
One Seaport Plaza Operating Adviser, if any), and subject to the specific
requirements and prohibitions of this Agreement, to do any and all things in
connection therewith as are consistent with the Servicing Standard, subject to
the REMIC Provisions, and in such manner as the Special Servicer deems to be in
the best interest of the Trust (and in the case of the One Seaport Plaza Loan
Pair, the holder of the related One Seaport Plaza Companion Loan and the Trust
as a collective whole), and, consistent therewith, may advance from its own
funds to pay for the following items (which amounts shall be reimbursed by the
Master Servicer or the Trust subject to Sections 4.4 in accordance with Section
4.6(e)), to the extent such amounts cannot be paid from REO Income:

            (i) all insurance premiums due and payable in respect of such REO
      Property;

            (ii) all real estate taxes and assessments in respect of such REO
      Property that could result or have resulted in the imposition of a lien
      thereon; and

            (iii) all costs and expenses necessary to maintain, operate, lease
      and sell such REO Property (other than capital expenditures).

            (d) The Special Servicer may, and to the extent necessary to (i)
preserve the status of the REO Property as "foreclosure property" under the
REMIC Provisions or (ii) avoid the imposition of a tax on "income from
nonpermitted assets" within the meaning of the REMIC Provisions, shall contract
with any Independent Contractor for the operation and management of the REO
Property, provided that:

            (i) the terms and conditions of any such contract shall not be
      inconsistent herewith;

            (ii) the terms of such contract shall be consistent with the
      provisions of Section 856 of the Code and Treasury Regulation Section
      1.856-4(b)(5);

            (iii) only to the extent consistent with (ii) above, any such
      contract shall require, or shall be administered to require, that the
      Independent Contractor (A) pay all costs and expenses incurred in
      connection with the operation and management of such Mortgaged Property
      underlying the REO Property and (B) deposit on a daily basis all amounts
      payable to the Trust in accordance with the contract between the Trust and
      the Independent Contractor in an Eligible Account;

            (iv) none of the provisions of this Section 9.14 relating to any
      such contract or to actions taken through any such Independent Contractor
      shall be deemed to relieve the Special Servicer of any of its duties and
      obligations to the Trustee with respect to the operation and management of
      any such REO Property;

            (v) if the Independent Contractor is an Affiliate of the Special
      Servicer, the consent of the Operating Adviser (and, solely with respect
      to the One Seaport Plaza Pari Passu Loan, the One Seaport Plaza Operating
      Adviser, if any) and a Nondisqualification Opinion must be obtained; and

            (vi) the Special Servicer shall be obligated with respect thereto to
      the same extent as if it alone were performing all duties and obligations
      in connection with the operation and management of such REO Property.

            The Special Servicer shall be entitled to enter into any agreement
with any Independent Contractor performing services for the Trust (and, if
applicable, the holder of a One Seaport Plaza Companion Loan) pursuant to this
subsection (d) for indemnification of the Special Servicer by such Independent
Contractor, and nothing in this Agreement shall be deemed to limit or modify
such indemnification. All fees of the Independent Contractor (other than fees
paid for performing services within the ordinary duties of a Special Servicer
which shall be paid by the Special Servicer) shall be paid from the income
derived from the REO Property. To the extent that the income from the REO
Property is insufficient, such fees shall be advanced by the Master Servicer as
a Servicing Advance, subject to the provisions of Section 4.4 and Section 4.6(e)
hereof.

            (e) Notwithstanding any other provision of this Agreement, the
Special Servicer shall not rent, lease, or otherwise earn income on behalf of
the Trust or the beneficial owners thereof with respect to REO Property which
might cause the REO Property to fail to qualify as "foreclosure property" within
the meaning of Section 860G(a)(8) of the Code (without giving effect to the
final sentence thereof) or result in the receipt by any REMIC of any "income
from nonpermitted assets" within the meaning of Section 860F(a)(2) of the Code
or any "net income from foreclosure property" which is subject to tax under the
REMIC Provisions unless (i) the Trustee and the Special Servicer have received
an Opinion of Counsel (at the Trust's sole expense) to the effect that, under
the REMIC Provisions and any relevant proposed legislation, any income generated
for REMIC I by the REO Property would not result in the imposition of a tax upon
REMIC I or (ii) in accordance with the Servicing Standard, the Special Servicer
determines the income or earnings with respect to such REO Property will offset
any tax under the REMIC Provisions relating to such income or earnings and will
maximize the net recovery from the REO Property to the Certificateholders. The
Special Servicer shall notify the Trustee, the Paying Agent and the Master
Servicer of any election by it to incur such tax, and the Special Servicer (i)
shall hold in escrow in an Eligible Account an amount equal to the tax payable
thereby from revenues collected from the related REO Property, (ii) provide the
Paying Agent with all information for the Paying Agent to file the necessary tax
returns in connection therewith and (iii) upon request from the Paying Agent,
pay from such account to the Paying Agent the amount of the applicable tax. The
Paying Agent shall file the applicable tax returns based on the information
supplied by the Special Servicer and pay the applicable tax from the amounts
collected by the Special Servicer.

            Subject to, and without limiting the generality of the foregoing,
the Special Servicer, on behalf of the Trust, shall not:

            (i) permit the Trust to enter into, renew or extend any New Lease
      with respect to the REO Property, if the New Lease by its terms will give
      rise to any income that does not constitute Rents from Real Property;

            (ii) permit any amount to be received or accrued under any New Lease
      other than amounts that will constitute Rents from Real Property;

            (iii) authorize or permit any construction on the REO Property,
      other than the completion of a building or other improvement thereon, and
      then only if more than ten percent of the construction of such building or
      other improvement was completed before default on the Mortgage Loan became
      imminent, all within the meaning of Section 856(e)(4)(B) of the Code; or

            (iv) Directly Operate, other than through an Independent Contractor,
      or allow any other Person to Directly Operate, other than through an
      Independent Contractor, the REO Property on any date more than 90 days
      after the Acquisition Date; unless, in any such case, the Special Servicer
      has requested and received an Opinion of Counsel at the Trust's sole
      expense to the effect that such action will not cause such REO Property to
      fail to qualify as "foreclosure property" within the meaning of Section
      860G(a)(8) of the Code (without giving effect to the final sentence
      thereof) at any time that it is held by the applicable REMIC Pool, in
      which case the Special Servicer may take such actions as are specified in
      such Opinion of Counsel.

            Section 9.15 Sale of REO Property. (a) In the event that title to
any REO Property is acquired by the Trust in respect of any Specially Serviced
Mortgage Loan, the deed or certificate of sale shall be issued to the Trust, the
Trustee or to its nominees. The Special Servicer, after notice to the Operating
Adviser (and, solely with respect to the One Seaport Plaza Pari Passu Loan, the
One Seaport Plaza Operating Adviser, if any), shall use its reasonable best
efforts to sell any REO Property as soon as practicable consistent with the
objective of maximizing proceeds for all Certificateholders, but in no event
later than the end of the third calendar year following the end of the year of
its acquisition, and in any event prior to the Final Rated Distribution Date,
unless (i) the Trustee, on behalf of the applicable REMIC Pool, has been granted
an extension of time (an "Extension") (which extension shall be applied for at
least 60 days prior to the expiration of the period specified above) by the
Internal Revenue Service to sell such REO Property (a copy of which shall be
delivered to the Paying Agent upon request), in which case the Special Servicer
shall continue to attempt to sell the REO Property for its fair market value for
such period longer than the period specified above as such Extension permits or
(ii) the Special Servicer seeks and subsequently receives, at the expense of the
Trust, a Nondisqualification Opinion, addressed to the Trustee and the Special
Servicer, to the effect that the holding by the Trust of such REO Property
subsequent to the period specified above after its acquisition will not result
in the imposition of taxes on "prohibited transactions" of a REMIC, as defined
in Section 860F(a)(2) of the Code, or cause any REMIC Pool to fail to qualify as
a REMIC at any time that any Certificates are outstanding. If the Trustee has
not received an Extension or such Opinion of Counsel and the Special Servicer is
not able to sell such REO Property within the period specified above, or if an
Extension has been granted and the Special Servicer is unable to sell such REO
Property within the extended time period, the Special Servicer shall, after
consultation with the Operating Adviser (and, solely with respect to the One
Seaport Plaza Pari Passu Loan, the One Seaport Plaza Operating Adviser, if any),
before the end of such period or extended period, as the case may be, auction
the REO Property to the highest bidder (which may be the Special Servicer) in
accordance with the Servicing Standard; provided, however, that no Interested
Person shall be permitted to purchase the REO Property at a price less than the
Purchase Price; and provided, further, that if the Special Servicer intends to
bid on any REO Property, (i) the Special Servicer shall notify the Trustee of
such intent, (ii) the Trustee shall promptly obtain, at the expense of the Trust
an Appraisal of such REO Property (or internal valuation in accordance with the
procedures specified in Section 6.9) and (iii) the Special Servicer shall not
bid less than the fair market value set forth in such Appraisal. The Depositor
may not purchase REO Property at a price in excess of the fair market value
thereof.

            (b) Within 30 days of the sale of the REO Property, the Special
Servicer shall provide to the Trustee, the Paying Agent and the Master Servicer
(and the holder of the related One Seaport Plaza Companion Loan, if any, if in
connection with the One Seaport Plaza Loan Pair) a statement of accounting for
such REO Property, including without limitation, (i) the Acquisition Date for
the REO Property, (ii) the date of disposition of the REO Property, (iii) the
sale price and related selling and other expenses, (iv) accrued interest
(including interest deemed to have accrued) on the Specially Serviced Mortgage
Loan to which the REO Property related, calculated from the Acquisition Date to
the disposition date, (v) final property operating statements, and (vi) such
other information as the Trustee or the Paying Agent (and the holder of the
related One Seaport Plaza Companion Loan, if any, if in connection with the One
Seaport Plaza Loan Pair) may reasonably request in writing.

            (c) The Liquidation Proceeds from the final disposition of the REO
Property shall be deposited in the Certificate Account within one Business Day
of receipt.

            Section 9.16 Realization on Collateral Security. In connection with
the enforcement of the rights of the Trust to any property securing any
Specially Serviced Mortgage Loan other than the related Mortgaged Property, the
Special Servicer shall consult with counsel to determine how best to enforce
such rights in a manner consistent with the REMIC Provisions and shall not,
based on a Nondisqualification Opinion addressed to the Special Servicer and the
Trustee (the cost of which shall be an expense of the Trust) take any action
that could result in the failure of any REMIC Pool to qualify as a REMIC while
any Certificates are outstanding, unless such action has been approved by a vote
of 100% of each Class of Certificateholders (including the Class R-I, Class R-II
and Class R-III Certificateholders).

            Section 9.17 Reserved.

            Section 9.18 Annual Officer's Certificate as to Compliance. The
Special Servicer shall deliver to the Paying Agent on or before noon (Eastern
Time) on March 30 of each calendar year, commencing in March 2003, an Officer's
Certificate stating, as to the signer thereof, that (A) a review of the
activities of the Special Servicer during the preceding calendar year or portion
thereof and of the performance of the Special Servicer under this Agreement has
been made under such officer's supervision and (B) to the best of such officer's
knowledge, based on such review, the Special Servicer has fulfilled all its
obligations under this Agreement in all material respects throughout such year,
or, if there has been a default in the fulfillment of any such obligation,
specifying each such default known to such officer and the nature and status
thereof. The Paying Agent shall deliver such Officer's Certificate to the Master
Servicer, the Depositor and the Trustee by April 7 of each calendar year. The
Special Servicer shall forward a copy of each such statement to the Rating
Agencies.

            Section 9.19 Annual Independent Accountants' Servicing Report. On or
before noon (Eastern Time) on March 30 of each calendar year, beginning with
March 2003, the Special Servicer at its expense shall cause a nationally
recognized firm of Independent public accountants (who may also render other
services to the Special Servicer, as applicable) to furnish to the Paying Agent
(in electronic format) a statement to the effect that (a) such firm has examined
certain documents and records relating to the servicing of the Mortgage Loans
under this Agreement or the servicing of mortgage loans similar to the Mortgage
Loans under substantially similar agreements for the preceding calendar year and
(b) the assertion by management of the Special Servicer, that it maintained an
effective internal control system over the servicing of such mortgage loans is
fairly stated in all material respects, based upon established criteria, which
statement meets the standards applicable to accountant's reports intended for
general distribution; provided that each of the Master Servicer and the Special
Servicer shall not be required to cause the delivery of such statement until
April 15 in any given year so long as it has received written confirmation from
the Depositor that a Report on Form 10-K is not required to be filed in respect
of the Trust Fund for the preceding calendar year. The Special Servicer shall
deliver such statement to the Depositor, each Rating Agency, the Trustee and,
upon request, the Operating Adviser (and, solely with respect to the One Seaport
Plaza Pari Passu Loan, the One Seaport Plaza Operating Adviser, if any) by April
7 of each calendar year or by April 30 of each calendar year if the statement is
not delivered until April 15.

            Section 9.20 Merger or Consolidation. Any Person into which the
Special Servicer may be merged or consolidated, or any Person resulting from any
merger, conversion, other change in form or consolidation to which the Special
Servicer shall be a party, or any Person succeeding to the business of the
Special Servicer, shall be the successor of the Special Servicer hereunder,
without the execution or filing of any paper or any further act on the part of
any of the parties hereto; provided, however, that each of the Rating Agencies
provides a Rating Agency Confirmation. If the conditions to the proviso in the
foregoing sentence are not met, the Trustee may terminate the Special Servicer's
servicing of the Specially Serviced Mortgage Loans pursuant hereto, such
termination to be effected in the manner set forth in Section 9.31.

            Section 9.21 Resignation of Special Servicer. (a) Except as
otherwise provided in this Section 9.21, the Special Servicer shall not resign
from the obligations and duties hereby imposed on it unless it determines that
the Special Servicer's duties hereunder are no longer permissible under
applicable law or are in material conflict by reason of applicable law with any
other activities carried on by it. Any such determination permitting the
resignation of the Special Servicer shall be evidenced by an Opinion of Counsel
to such effect delivered to the Master Servicer, the Operating Adviser (and,
solely with respect to the One Seaport Plaza Pari Passu Loan, the One Seaport
Plaza Operating Adviser, if any), and the Trustee. No such resignation shall
become effective until a successor servicer designated by the Operating Adviser
(and, solely with respect to the One Seaport Plaza Pari Passu Loan, the One
Seaport Plaza Operating Adviser, if any) and the Trustee shall have (i)
satisfied the requirements that would apply pursuant to Section 9.20 hereof if a
merger of the Special Servicer had occurred, (ii) assumed the Special Servicer's
responsibilities and obligations under this Agreement and (iii) Rating Agency
Confirmation shall have been obtained. Notice of such resignation shall be given
promptly by the Special Servicer to the Master Servicer and the Trustee.

            (b) The Special Servicer may resign from the obligations and duties
hereby imposed on it, upon reasonable notice to the Trustee, provided that (i) a
successor Special Servicer is (x) available, (y) reasonably acceptable to the
Operating Adviser (and, solely with respect to the One Seaport Plaza Pari Passu
Loan, the One Seaport Plaza Operating Adviser, if any), the Depositor, and the
Trustee, and (z) willing to assume the obligations, responsibilities and
covenants to be performed hereunder by the Special Servicer on substantially the
same terms and conditions, and for not more than equivalent compensation as that
herein provided, (ii) the successor Special Servicer has assets of at least
$15,000,000 and (iii) Rating Agency Confirmation is obtained with respect to
such resignation, as evidenced by a letter from each Rating Agency delivered to
the Trustee. Any costs of such resignation and of obtaining a replacement
Special Servicer shall be borne by the Special Servicer and shall not be an
expense of the Trust.

            (c) No such resignation under paragraph (b) above shall become
effective unless and until such successor Special Servicer enters into a
servicing agreement with the Trustee assuming the obligations and
responsibilities of the Special Servicer hereunder in form and substance
reasonably satisfactory to the Trustee.

            Section 9.22 Assignment or Delegation of Duties by Special Servicer.
The Special Servicer shall have the right without the prior written consent of
the Trustee to (A) delegate or subcontract with or authorize or appoint anyone,
or delegate certain duties to other professionals such as attorneys and
appraisers, as an agent of the Special Servicer or Sub-Servicers (as provided in
Section 9.3) to perform and carry out any duties, covenants or obligations to be
performed and carried out by the Special Servicer hereunder or (B) assign and
delegate all of its duties hereunder. In the case of any such assignment and
delegation in accordance with the requirements of clause (A) of this Section,
the Special Servicer shall not be released from its obligations under this
Agreement. In the case of any such assignment and delegation in accordance with
the requirements of clause (B) of this Section, the Special Servicer shall be
released from its obligations under this Agreement, except that the Special
Servicer shall remain liable for all liabilities and obligations incurred by it
as the Special Servicer hereunder prior to the satisfaction of the following
conditions: (i) the Special Servicer gives the Depositor, the Master Servicer
and the Trustee notice of such assignment and delegation; (ii) such purchaser or
transferee accepting such assignment and delegation executes and delivers to the
Depositor and the Trustee an agreement accepting such assignment, which contains
an assumption by such Person of the rights, powers, duties, responsibilities,
obligations and liabilities of the Special Servicer, with like effect as if
originally named as a party to this Agreement; (iii) the purchaser or transferee
has assets in excess of $15,000,000; (iv) such assignment and delegation is the
subject of a Rating Agency Confirmation; and (v) the Depositor consents to such
assignment and delegation, such consent not be unreasonably withheld.
Notwithstanding the above, the Special Servicer may appoint Sub-Servicers in
accordance with Section 9.3 hereof.

            Section 9.23 Limitation on Liability of the Special Servicer and
Others. (a) Neither the Special Servicer nor any of the partners, directors,
officers, employees or agents of the Special Servicer shall be under any
liability to the Certificateholders, the holder of any One Seaport Plaza
Companion Loan or the Trustee for any action taken or for refraining from the
taking of any action in good faith and using reasonable business judgment;
provided that this provision shall not protect the Special Servicer or any such
person against any breach of a representation or warranty contained herein or
any liability which would otherwise be imposed by reason of willful misfeasance,
bad faith or negligence in its performance of duties hereunder or by reason of
negligent disregard of obligations and duties hereunder. The Special Servicer
and any director, officer, employee or agent of the Special Servicer may rely in
good faith on any document of any kind prima facie properly executed and
submitted by any Person (including, without limitation, the information and
reports delivered by or at the direction of the Master Servicer or any director,
officer, employee or agent of the Master Servicer) respecting any matters
arising hereunder. The Special Servicer shall not be under any obligation to
appear in, prosecute or defend any legal action which is not incidental to its
duties to service the Specially Serviced Mortgage Loans in accordance with this
Agreement; provided that the Special Servicer may in its sole discretion
undertake any such action which it may reasonably deem necessary or desirable in
order to protect the interests of the Certificateholders, the holder of any One
Seaport Plaza Companion Loan and the Trustee in the Specially Serviced Mortgage
Loans, or shall undertake any such action if instructed to do so by the Trustee.
In such event, all legal expenses and costs of such action (other than those
that are connected with the routine performance by the Special Servicer of its
duties hereunder) shall be expenses and costs of the Trust, and the Special
Servicer shall be entitled to be reimbursed therefor as provided by Section 5.2
hereof. Notwithstanding any term in this Agreement, the Special Servicer shall
not be relieved from liability to, or entitled to indemnification from, the
Trust for any action taken by it at the direction of the Operating Adviser (and,
solely with respect to the One Seaport Plaza Pari Passu Loan, the One Seaport
Plaza Operating Adviser, if any) which is in conflict with the Servicing
Standard.

            (b) In addition, the Special Servicer shall have no liability with
respect to, and shall be entitled to conclusively rely on as to the truth of the
statements and the correctness of the opinions expressed in any certificates or
opinions furnished to the Special Servicer and conforming to the requirements of
this Agreement. Neither the Special Servicer, nor any director, officer,
employee, agent or Affiliate, shall be personally liable for any error of
judgment made in good faith by any officer, unless it shall be proved that the
Special Servicer or such officer was negligent in ascertaining the pertinent
facts. Neither the Special Servicer, nor any director, officer, employee, agent
or Affiliate, shall be personally liable for any action taken, suffered or
omitted by it in good faith and believed by it to be authorized or within the
discretion, rights or powers conferred upon it by this Agreement. The Special
Servicer shall be entitled to rely on reports and information supplied to it by
the Master Servicer and the related Mortgagors and shall have no duty to
investigate or confirm the accuracy of any such report or information.

            (c) The Special Servicer shall not be obligated to incur any
liabilities, costs, charges, fees or other expenses which relate to or arise
from any breach of any representation, warranty or covenant made by the
Depositor, the Master Servicer, the Fiscal Agent or the Trustee in this
Agreement. The Trust shall indemnify and hold harmless the Special Servicer from
any and all claims, liabilities, costs, charges, fees or other expenses which
relate to or arise from any such breach of representation, warranty or covenant
to the extent such amounts are not recoverable from the party committing such
breach.

            (d) Except as otherwise specifically provided herein:

            (i) the Special Servicer may rely, and shall be protected in acting
      or refraining from acting upon, any resolution, officer's certificate,
      certificate of auditors or any other certificate, statement, instrument,
      opinion, report, notice, request, consent, order, appraisal, bond or other
      paper or document believed or in good faith believed by it to be genuine
      and to have been signed or presented by the proper party or parties;

            (ii) the Special Servicer may consult with counsel, and any written
      advice or Opinion of Counsel shall be full and complete authorization and
      protection with respect to any action taken or suffered or omitted by it
      hereunder in good faith and in accordance with such advice or Opinion of
      Counsel;

            (iii) the Special Servicer shall not be personally liable for any
      action taken, suffered or omitted by it in good faith and believed by it
      to be authorized or within the discretion, rights or powers conferred upon
      it by this Agreement; and

            (iv) the Special Servicer, in preparing any reports hereunder, may
      rely, and shall be protected in acting or refraining from acting upon any
      information (financial or other), statement, certificate, document,
      agreement, covenant, notice, request or other paper reasonably believed or
      in good faith believed by it to be genuine.

            (e) The Special Servicer and any partner, director, officer,
employee or agent of the Special Servicer shall be indemnified by the Master
Servicer, the Trustee, the Paying Agent and the Fiscal Agent, as the case may
be, and held harmless against any and all claims, losses, penalties, fines,
forfeitures, legal fees and related costs, judgments, and any other costs,
liabilities, fees and expenses incurred in connection with any legal action
relating to the Master Servicer's, the Trustee's, the Paying Agent's or the
Fiscal Agent's, as the case may be, respective willful misfeasance, bad faith or
negligence in the performance of its respective duties hereunder or by reason of
negligent disregard by such Person of its respective duties hereunder, other
than any loss, liability or expense incurred by reason of willful misfeasance,
bad faith or negligence in the performance of any of the Special Servicer's
duties hereunder or by reason of negligent disregard of the Special Servicer's
obligations and duties hereunder. The Special Servicer shall promptly notify the
Master Servicer, the Trustee, the Paying Agent and the Fiscal Agent if a claim
is made by a third party entitling the Special Servicer to indemnification
hereunder, whereupon the Master Servicer, the Trustee or the Paying Agent, in
each case, to the extent the claim was made in connection with its willful
misfeasance, bad faith or negligence, shall assume the defense of any such claim
(with counsel reasonably satisfactory to the Special Servicer). Any failure to
so notify the Master Servicer, the Trustee or the Paying Agent shall not affect
any rights the Special Servicer may have to indemnification hereunder or
otherwise, unless the interest of the Master Servicer, the Trustee or the Paying
Agent is materially prejudiced thereby. The indemnification provided herein
shall survive the termination of this Agreement and the termination or
resignation of the Special Servicer. Such indemnity shall survive the
termination of this Agreement or the resignation or removal of the Special
Servicer hereunder. Any payment hereunder made by the Master Servicer, the
Trustee, the Fiscal Agent or the Paying Agent, as the case may be, pursuant to
this paragraph to the Special Servicer shall be paid from the Master Servicer's,
the Trustee's, the Fiscal Agent's or the Paying Agent's, as the case may be, own
funds, without reimbursement from the Trust therefor, except achieved through
subrogation as provided in this Agreement. Any expenses incurred or
indemnification payments made by the Trustee, the Paying Agent, the Fiscal Agent
or the Master Servicer shall be reimbursed by the party so paid if a court of
competent jurisdiction makes a final judgment that the conduct of the Trustee,
the Paying Agent, the Fiscal Agent or the Master Servicer, as the case may be,
was not culpable of willful misfeasance, bad faith or negligence in the
performance of its respective duties hereunder or of negligent disregard of its
respective duties hereunder or the indemnified party is found to have acted with
willful misfeasance, bad faith or negligence.

            Section 9.24 Indemnification; Third-Party Claims. (a) The Special
Servicer and any partner, director, officer, employee or agent of the Special
Servicer shall be indemnified by the Trust, and held harmless against any and
all claims, losses, penalties, fines, forfeitures, legal fees and related costs,
judgments and any other costs, liabilities, fees and expenses incurred in
connection with any legal action relating to (i) this Agreement, any Mortgage
Loan, any REO Property or the Certificates or any exercise of any right under
this Agreement, and (ii) any action taken by the Special Servicer in accordance
with the instruction delivered in writing to the Special Servicer by the Trustee
or the Master Servicer pursuant to any provision of this Agreement, and the
Special Servicer and each of its directors, officers, employees and agents shall
in each case be entitled to indemnification from the Trust for any loss,
liability or expense (including attorneys' fees) incurred in connection with the
provision by the Special Servicer of any information included by the Special
Servicer in the report required to be provided by the Special Servicer pursuant
to this Agreement, other than any loss, liability or expense incurred by reason
of willful misfeasance, bad faith or negligence in the performance of duties
hereunder or by reason of negligent disregard of obligations and duties
hereunder. The Special Servicer shall assume the defense of any such claim (with
counsel reasonably satisfactory to the Special Servicer) and the Trust shall
pay, from amounts on deposit in the Certificate Account pursuant to Section 5.2,
all expenses in connection therewith, including counsel fees, and promptly pay,
discharge and satisfy any judgment or decree which may be entered against it or
them in respect of such claim. The indemnification provided herein shall survive
the termination of this Agreement and the termination or resignation of the
Special Servicer. Any expenses incurred or indemnification payments made by the
Trust shall be reimbursed by the Special Servicer, if a court of competent
jurisdiction makes a final, non-appealable judgment that the Special Servicer
was found to have acted with willful misfeasance, bad faith or negligence.

            (b) The Special Servicer agrees to indemnify the Trust, and the
Trustee, the Fiscal Agent, the Depositor, the Master Servicer, the Paying Agent
and any member, manager, director, officer, employee or agent or Controlling
Person of the Trustee, the Fiscal Agent, the Depositor and the Master Servicer,
and hold them harmless against any and all claims, losses, penalties, fines,
forfeitures, legal fees and related costs, judgments, and any other costs,
liabilities, fees and expenses that the Trust or the Trustee, the Fiscal Agent,
the Depositor, the Paying Agent or the Master Servicer may sustain arising from
or as a result of the willful misfeasance, bad faith or negligence in the
performance of duties hereunder or by reason of negligent disregard of
obligations and duties hereunder by the Special Servicer. The Trustee, the
Fiscal Agent, the Depositor, the Paying Agent or the Master Servicer shall
immediately notify the Special Servicer if a claim is made by a third party with
respect to this Agreement or the Specially Serviced Mortgage Loans entitling the
Trust or the Trustee, the Fiscal Agent, the Depositor, the Paying Agent or the
Master Servicer, as the case may be, to indemnification hereunder, whereupon the
Special Servicer shall assume the defense of any such claim (with counsel
reasonably satisfactory to the Trustee, the Fiscal Agent, the Depositor, the
Paying Agent or the Master Servicer, as the case may be) and pay all expenses in
connection therewith, including counsel fees, and promptly pay, discharge and
satisfy any judgment or decree which may be entered against it or them in
respect of such claim. Any failure to so notify the Special Servicer shall not
affect any rights the Trust or the Trustee, the Fiscal Agent, the Depositor, the
Paying Agent or the Master Servicer may have to indemnification under this
Agreement or otherwise, unless the Special Servicer's defense of such claim is
materially prejudiced thereby. The indemnification provided herein shall survive
the termination of this Agreement and the termination or resignation of the
Special Servicer, the Paying Agent or the Trustee or Fiscal Agent. Any expenses
incurred or indemnification payments made by the Special Servicer shall be
reimbursed by the party so paid, if a court of competent jurisdiction makes a
final, non-appealable judgment that the conduct of the Special Servicer was not
culpable or found to have acted with willful misfeasance, bad faith or
negligence.

            (c) The initial Special Servicer and the Depositor expressly agree
that the only information furnished by or on behalf of the Special Servicer for
inclusion in the Preliminary Prospectus Supplement and the Final Prospectus
Supplement is the information set forth in the paragraph under the caption
"SERVICING OF THE MORTGAGE LOANS--The Master Servicer and Special
Servicer--Special Servicer" of the Preliminary Prospectus Supplement and Final
Prospectus Supplement.

            (d) The 2002-HQ Special Servicer and any director, officer, employee
or agent of the 2002-HQ Special Servicer shall be indemnified by the Trust and
held harmless against the Trust's pro rata share of any and all claims, losses,
penalties, fines, forfeitures, legal fees and related costs, judgments and any
other costs, liabilities, fees and expenses incurred in connection with any
legal action relating to the 2002-HQ Pooling and Servicing Agreement and this
Agreement, and relating to the Woodfield Pari Passu Loan (but excluding any such
losses allocable to the 2002-HQ Mortgage Loan), reasonably requiring the use of
counsel or the incurring of expenses other than any losses incurred by reason of
the 2002-HQ Special Servicer's willful misfeasance, bad faith or negligence in
the performance of its duties under the 2002-HQ Pooling and Servicing Agreement.

            (e) The Other Special Servicer and any director, officer, employee
or agent of the Other Special Servicer shall be indemnified by the Trust and
held harmless against the Trust's pro rata share of any and all claims, losses,
penalties, fines, forfeitures, legal fees and related costs, judgments and any
other costs, liabilities, fees and expenses incurred in connection with any
legal action relating to the Other Pooling and Servicing Agreement and this
Agreement, and relating to the One Seaport Plaza Pari Passu Loan (but excluding
any such losses allocable to the Lead One Seaport Plaza Companion Loan),
reasonably requiring the use of counsel or the incurring of expenses other than
any losses incurred by reason of the Other Special Servicer's willful
misfeasance, bad faith or negligence in the performance of its duties under the
Other Pooling and Servicing Agreement.

            Section 9.25 Reserved.

            Section 9.26 Special Servicer May Own Certificates. The Special
Servicer or any agent of the Special Servicer in its individual capacity or in
any other capacity may become the owner or pledgee of Certificates with the same
rights as it would have if they were not the Special Servicer or such agent. Any
such interest of the Special Servicer or such agent in the Certificates shall
not be taken into account when evaluating whether actions of the Special
Servicer are consistent with its obligations in accordance with the Servicing
Standard regardless of whether such actions may have the effect of benefiting
the Class or Classes of Certificates owned by the Special Servicer.

            Section 9.27 Tax Reporting. The Special Servicer shall provide the
necessary information to the Master Servicer to allow the Master Servicer to
comply with the Mortgagor tax reporting requirements imposed by Sections 6050H,
6050J and 6050P of the Code with respect to any Specially Serviced Mortgage
Loan. The Special Servicer shall provide to the Master Servicer copies of any
such reports. The Master Servicer shall forward such reports to the Trustee and
the Paying Agent.

            Section 9.28 Application of Funds Received. It is anticipated that
the Master Servicer will be collecting all payments with respect to the Mortgage
Loans (other than payments with respect to REO Income). If, however, the Special
Servicer should receive any payments with respect to any Mortgage Loan (other
than REO Income) it shall, within one Business Day of receipt from the Mortgagor
or otherwise of any amounts attributable to payments with respect to or the sale
of any Mortgage Loan or any Specially Serviced Mortgage Loan, if any, (but not
including REO Income, which shall be deposited in the applicable REO Account as
provided in Section 9.14 hereof), either, (i) forward such payment (endorsed, if
applicable, to the order of the Master Servicer), to the Master Servicer, or
(ii) deposit such amounts, or cause such amounts to be deposited, in the
Certificate Account. The Special Servicer shall notify the Master Servicer of
each such amount received on or before the date required for the making of such
deposit or transfer, as the case may be, indicating the Mortgage Loan or
Specially Serviced Mortgage Loan to which the amount is to be applied and the
type of payment made by or on behalf of the related Mortgagor.

            Section 9.29 Compliance with REMIC Provisions. The Special Servicer
shall act in accordance with this Agreement and the provisions of the Code
relating to REMICs in order to create or maintain the status of any REMIC Pool
as a REMIC under the Code or, as appropriate, adopt a plan of complete
liquidation. The Special Servicer shall not take any action or cause any REMIC
Pool to take any action that would (i) endanger the status of any REMIC Pool as
a REMIC under the Code or (ii) subject to Section 9.14(e), result in the
imposition of a tax upon any REMIC Pool (including, but not limited to, the tax
on prohibited transactions as defined in Code Section 860F(a)(2) or on
prohibited contributions pursuant to Section 860G(d)) unless the Master Servicer
and the Trustee have received a Nondisqualification Opinion (at the expense of
the party seeking to take such action) to the effect that the contemplated
action will not endanger such status or result in the imposition of such tax.
The Special Servicer shall comply with the provisions of Article XII hereof.

            Section 9.30 Termination. (a) The obligations and responsibilities
of the Special Servicer created hereby (other than the obligation of the Special
Servicer to make payments to the Master Servicer as set forth in Section 9.28
and the obligations of the Special Servicer pursuant to Sections 9.8 and 9.24
hereof) shall terminate on the date which is the earliest of (i) the later of
(A) the final payment or other liquidation of the last Mortgage Loan remaining
outstanding (and final distribution to the Certificateholders) or, (B) the
disposition of all REO Property in respect of any Specially Serviced Mortgage
Loan (and final distribution to the Certificateholders), (ii) 60 days following
the date on which the Trustee or the Operating Adviser has given written notice
to the Special Servicer that this Agreement is terminated pursuant to Section
9.30(b) or 9.30(c), respectively, and (iii) the effective date of any
resignation of the Special Servicer effected pursuant to and in accordance with
Section 9.21. The obligations and responsibilities of the Special Servicer
created hereby with respect to the One Seaport Plaza Pari Passu Loan (other than
the obligation of the Special Servicer to make payments to the Master Servicer
as set forth in Section 9.28 and the obligations of the Special Servicer
pursuant to Sections 9.8 and 9.24 hereof) shall terminate on the date which is
60 days following the date on which the Depositor has given written notice to
the Special Servicer that this Agreement is terminated with respect to the
Special Servicer's obligations towards the One Seaport Plaza Pari Passu Loan
pursuant to Section 9.30(c).

            (b) The Trustee may terminate the Special Servicer in the event that
(i) the Special Servicer has failed to remit any amount required to be remitted
to the Trustee, the Master Servicer, the Fiscal Agent, the Paying Agent or the
Depositor within one (1) Business Day following the date such amount was
required to have been remitted under the terms of this Agreement, (ii) the
Special Servicer has failed to deposit into any account any amount required to
be so deposited or remitted under the terms of this Agreement which failure
continues unremedied for one Business Day following the date on which such
deposit or remittance was first required to be made; (iii) the Special Servicer
has failed to duly observe or perform in any material respect any of the other
covenants or agreements of the Special Servicer set forth in this Agreement, and
the Special Servicer has failed to remedy such failure within thirty (30) days
after written notice of such failure, requiring the same to be remedied, shall
have been given to the Special Servicer by the Depositor or the Trustee,
provided, however, that if the Special Servicer certifies to the Trustee and the
Depositor that the Special Servicer is in good faith attempting to remedy such
failure, and the Certificateholders would not be affected thereby, such cure
period will be extended to the extent necessary to permit the Special Servicer
to cure such failure; provided, however, that such cure period may not exceed 90
days; (iv) the Special Servicer has made one or more false or misleading
representations or warranties herein that materially and adversely affects the
interest of any Class of Certificates, and has failed to cure such breach within
thirty (30) days after notice of such breach, requiring the same to be remedied,
shall have been given to the Special Servicer by the Depositor or the Trustee,
provided, however, that if the Special Servicer certifies to the Trustee and the
Depositor that the Special Servicer is in good faith attempting to remedy such
failure, such cure period may be extended to the extent necessary to permit the
Special Servicer to cure such failure; provided, however, that such cure period
may not exceed 90 days; (v) the Trustee shall receive notice from Fitch to the
effect that the continuation of the Special Servicer in such capacity would
result in the downgrade, qualification or withdrawal of any rating then assigned
by Fitch to any Class of Certificates; (vi) a decree or order of a court or
agency or supervisory authority having jurisdiction in the premises in an
involuntary case under any present or future federal or state bankruptcy,
insolvency or similar law for the appointment of a conservator, receiver,
liquidator, trustee or similar official in any bankruptcy, insolvency,
readjustment of debt, marshalling of assets and liabilities or similar
proceedings, or for the winding-up or liquidation of its affairs, shall have
been entered against the Special Servicer and such decree or order shall have
remained in force undischarged or unstayed for a period of 60 days; (vii) the
Special Servicer shall consent to the appointment of a conservator, receiver,
liquidator, trustee or similar official in any bankruptcy, insolvency,
readjustment of debt, marshalling of assets and liabilities or similar
proceedings relating to the Special Servicer or of or relating to all or
substantially all of its property; or (viii) the Special Servicer thereof shall
admit in writing its inability to pay its debts generally as they become due,
file a petition to take advantage of any applicable bankruptcy, insolvency or
reorganization statute, make an assignment for the benefit of its creditors,
voluntarily suspend payment of its obligations, or take any corporate action in
furtherance of the foregoing; or (ix) the Special Servicer is removed from S&P's
approved special servicer list and the ratings then assigned by S&P to any
Classes of Certificates are downgraded, qualified or withdrawn (including,
without limitation, being placed on "negative credit watch") in connection with
such removal. Such termination shall be effective on the date after the date of
any of the above events that the Trustee specifies in a written notice to the
Special Servicer specifying the reason for such termination. The Operating
Adviser shall have the right to appoint a successor if the Trustee terminates
the Special Servicer.

            (c) The Operating Adviser shall have the right to direct the Trustee
to terminate the Special Servicer, provided that the Operating Adviser shall
appoint a successor Special Servicer who will (i) be reasonably satisfactory to
the Trustee and to the Depositor, and (ii) execute and deliver to the Trustee an
agreement, in form and substance reasonably satisfactory to the Trustee, whereby
the successor Special Servicer agrees to assume and perform punctually the
duties of the Special Servicer specified in this Agreement; and provided,
further, that the Trustee shall have received Rating Agency Confirmation from
each Rating Agency prior to the termination of the Special Servicer. The Special
Servicer shall not be terminated pursuant to this subsection (c) until a
successor Special Servicer shall have been appointed. The Operating Adviser
shall pay any costs and expenses incurred by the Trust in connection with the
removal and appointment of a Special Servicer (unless such removal is based on
any of the events or circumstances set forth in Section 9.30(b)).

            (d) The Depositor shall have the right to direct the Trustee to
terminate the Special Servicer with respect to the One Seaport Plaza Pari Passu
Loan, provided, that the Trustee shall have received Rating Agency Confirmation
from each Rating Agency prior to the termination of the Special Servicer. The
Special Servicer shall not be terminated with respect to the One Seaport Plaza
Pari Passu Loan pursuant to this subsection (d) until the Other Special Servicer
shall have been appointed. The One Seaport Plaza Operating Adviser shall pay any
costs and expenses incurred by the Trust in connection with the removal of the
Special Servicer and the appointment of the Other Special Servicer, in each case
with respect to the One Seaport Plaza Pari Passu Loan. The parties hereto agree
to execute, upon notice, any amendment proposed by the Other Special Servicer in
connection with the special servicing of the One Seaport Plaza Pari Passu Loan
and the One Seaport Plaza Companion Loan pursuant to the terms of the Other
Pooling and Servicing Agreement; provided, however, that no such amendment shall
increase the obligations or limit the rights of any party to this Agreement
without the consent of such party.

            Section 9.31 Procedure Upon Termination. (a) Notice of any
termination pursuant to clause (i) of Section 9.30(a), specifying the
Distribution Date upon which the final distribution shall be made, shall be
given promptly by the Special Servicer to the Trustee and the Paying Agent no
later than the later of (i) five Business Days after the final payment or other
liquidation of the last Mortgage Loan or (ii) the sixth day of the month in
which the final Distribution Date will occur. Upon any such termination, the
rights and duties of the Special Servicer (other than the rights and duties of
the Special Servicer pursuant to Sections 9.8, 9.21, 9.23 and 9.24 hereof) shall
terminate and the Special Servicer shall transfer to the Master Servicer the
amounts remaining in each REO Account and shall thereafter terminate each REO
Account and any other account or fund maintained with respect to the Specially
Serviced Mortgage Loans.

            (b) On the date specified in a written notice of termination given
to the Special Servicer pursuant to clause (ii) of Section 9.30(a), all
authority, power and rights of the Special Servicer under this Agreement,
whether with respect to the Specially Serviced Mortgage Loans or otherwise,
shall terminate; provided that in no event shall the termination of the Special
Servicer be effective until the Trustee or other successor Special Servicer
shall have succeeded the Special Servicer as successor Special Servicer,
notified the Special Servicer of such designation, and such successor Special
Servicer shall have assumed the Special Servicer's obligations and
responsibilities, as set forth in an agreement substantially in the form hereof,
with respect to the Specially Serviced Mortgage Loans. The Trustee or other
successor Special Servicer may not succeed the Special Servicer as Special
Servicer until and unless it has satisfied the provisions that would apply to a
Person succeeding to the business of the Special Servicer pursuant to Section
9.20 hereof. The Trustee is hereby authorized and empowered to execute and
deliver, on behalf of the Special Servicer, as attorney-in-fact or otherwise,
any and all documents and other instruments, and to do or accomplish all other
acts or things necessary or appropriate to effect the purposes of such notice of
termination. The Special Servicer agrees to cooperate with the Trustee and the
Fiscal Agent in effecting the termination of the Special Servicer's
responsibilities and rights hereunder as Special Servicer including, without
limitation, providing the Trustee all documents and records in electronic or
other form reasonably requested by it to enable the successor Special Servicer
designated by the Trustee to assume the Special Servicer's functions hereunder
and to effect the transfer to such successor for administration by it of all
amounts which shall at the time be or should have been deposited by the Special
Servicer in any REO Account and any other account or fund maintained or
thereafter received with respect to the Specially Serviced Mortgage Loans. On
the date specified in a written notice of termination given to the Special
Servicer pursuant to the second sentence of Section 9.30(a), all authority,
power and rights of the Special Servicer under this Agreement with respect to
the One Seaport Plaza Pari Passu Loan, whether such Mortgage Loan is a Specially
Serviced Mortgage Loan or otherwise, shall terminate. The Other Special Servicer
may not succeed the Special Servicer as Special Servicer until and unless it has
satisfied the provisions that would apply to a Person succeeding to the business
of the Special Servicer pursuant to Section 9.20 hereof. The Trustee is hereby
authorized and empowered to execute and deliver, on behalf of the Special
Servicer, as attorney-in-fact or otherwise, any and all documents and other
instruments, and to do or accomplish all other acts or things necessary or
appropriate to effect the purposes of such notice of termination. The Special
Servicer agrees to cooperate with the Trustee and the Fiscal Agent in effecting
the termination of the Special Servicer's responsibilities and rights hereunder
as Special Servicer with respect to the One Seaport Plaza Pari Passu Loan
including, without limitation, providing the Other Special Servicer all
documents and records in electronic or other form reasonably requested by it to
enable the Other Special Servicer to assume the Special Servicer's functions
hereunder with respect to such Mortgage Loan and to effect the transfer to the
Other Special Servicer for administration by it of all amounts which shall at
the time be or should have been deposited by the Special Servicer in any REO
Account and any other account or fund maintained or thereafter received with
respect to the One Seaport Plaza Pari Passu Loan.

            (c) If the Special Servicer receives a written notice of termination
pursuant to clause (ii) of Section 9.30(a) relating solely to an event set forth
in Section 9.30(b)(v) or (ix), and if the Special Servicer provides the Trustee
with the appropriate "request for proposal" materials within five Business Days
after receipt of such written notice of termination, then the Trustee shall
promptly thereafter (using such "request for proposal" materials provided by the
Special Servicer) solicit good faith bids for the rights to be appointed as
Special Servicer under this Agreement from at least three but no more than five
Qualified Bidders or, if three Qualified Bidders cannot be located, then from as
many persons as the Trustee can determine are Qualified Bidders. At the
Trustee's request, the Special Servicer shall supply the Trustee with the names
of Persons from whom to solicit such bids. In no event shall the Trustee be
responsible if less than three Qualified Bidders submit bids for the right to
service the Mortgage Loans under this Agreement.

            (d) Each bid proposal shall require any Successful Bidder, as a
condition of its bid, to enter into this Agreement as successor Special
Servicer, and to agree to be bound by the terms hereof, not later than 30 days
after termination of the Special Servicer hereunder. The Trustee shall select
the Qualified Bidder with the highest cash bid (or such other Qualified Bidder
as the Master Servicer may direct) that is also acceptable to the Operating
Adviser (the "Successful Bidder") to act as successor Special Servicer
hereunder. If no bidder is acceptable to the Operating Adviser, the Operating
Adviser shall appoint the successor Special Servicer after consultation with the
Controlling Class, provided that the successor Special Servicer so appointed
must be bound by the terms of this Agreement and there must be delivered a
Rating Agency Confirmation in connection with such appointment. The Trustee
shall direct the Successful Bidder to enter into this Agreement as successor
Special Servicer pursuant to the terms hereof not later than 30 days after the
termination of the Special Servicer hereunder, and in connection therewith to
deliver the amount of the Successful Bidder's cash bid to the Trustee by wire
transfer of immediately available funds to an account specified by the Trustee
no later than 10:00 a.m. New York City time on the date specified for the
assignment and assumption of the servicing rights hereunder.

            (e) Upon the assignment and acceptance of the servicing right
hereunder to and by the Successful Bidder and receipt of such cash bid, the
Trustee shall remit or cause to be remitted to the terminated Special Servicer
the amount of such cash bid received from the Successful Bidder (net of
out-of-pocket expenses incurred in connection with obtaining such bid and
transferring servicing) by wire transfer of immediately available funds to an
account specified by the terminated Special Servicer no later than 1:00 p.m. New
York City time on the date specified for the assignment and assumption of the
servicing rights hereunder.

            (f) If the Successful Bidder has not entered into this Agreement as
successor Special within 30 days after the termination of the Special Servicer
hereunder or no Successful Bidder was identified within such 30-day period, the
Trustee shall have no further obligations under Section 9.31(c) and may act or
may select another successor to act as Special Servicer hereunder in accordance
with Section 9.31(b).

            Section 9.32 Certain Special Servicer Reports. (a) The Special
Servicer, for each Specially Serviced Mortgage Loan, shall provide to the Master
Servicer on or prior to the Determination Date for each month, the data required
by the CMSA Reports in such electronic format as is mutually acceptable to the
Master Servicer and the Special Servicer and in CMSA format. With respect to any
Mortgage Loan for which a Primary Servicer is appointed as a Special Servicer
pursuant to Section 9.39, the reports prepared by such Special Servicer shall
only include the CMSA reports and related data required by the related Primary
Servicing Agreement, and such other reports as are mutually agreed to by the
related Primary Servicer and Master Servicer. The Master Servicer may use such
reports or information contained therein to prepare its reports and the Master
Servicer may, at its option, forward such reports directly to the Depositor and
the Rating Agencies.

            (b) The Special Servicer shall maintain accurate records, prepared
by a Servicing Officer, of each Final Recovery Determination with respect to any
Mortgage Loan or REO Property and the basis thereof. Each Final Recovery
Determination shall be evidenced by an Officer's Certificate delivered to the
Trustee, the Operating Adviser (and, solely with respect to the One Seaport
Plaza Pari Passu Loan, the One Seaport Plaza Operating Adviser, if any), the
Paying Agent and the Master Servicer no later than the tenth Business Day
following such Final Recovery Determination.

            (c) The Special Servicer shall provide to the Master Servicer or the
Paying Agent at the reasonable request in writing of the Master Servicer or the
Paying Agent, any information in its possession with respect to the Specially
Serviced Mortgage Loans which the Master Servicer or Paying Agent, as the case
may be, shall require in order for the Master Servicer or the Paying Agent to
comply with its obligations under this Agreement; provided that the Special
Servicer shall not be required to take any action or provide any information
that the Special Servicer determines will result in any material cost or expense
to which it is not entitled to reimbursement hereunder or will result in any
material liability for which it is not indemnified hereunder. The Master
Servicer will provide the Special Servicer at the reasonable request of the
Special Servicer any information in its possession with respect to the Mortgage
Loans which the Special Servicer shall require in order for the Special Servicer
to comply with its obligations under this Agreement.

            (d) Not later than 20 days after each Special Servicer Remittance
Date, the Special Servicer shall forward to the Master Servicer a statement
setting forth the status of each REO Account as of the close of business on such
Special Servicer Remittance Date, stating that all remittances required to be
made by it as required by this Agreement to be made by the Special Servicer have
been made (or, if any required distribution has not been made by the Special
Servicer, specifying the nature and status thereof) and showing, for the period
from the day following the preceding Special Servicer Remittance Date to such
Special Servicer Remittance Date, the aggregate of deposits into and withdrawals
from each REO Account for each category of deposit specified in Section 5.1 of
this Agreement and each category of withdrawal specified in Section 5.2 of this
Agreement.

            (e) The Special Servicer shall use reasonable efforts to obtain and,
to the extent obtained, to deliver to the Master Servicer (subject to Section
8.14 herein), the Paying Agent, the Rating Agencies and the Operating Adviser
(and, solely with respect to the One Seaport Plaza Pari Passu Loan, the One
Seaport Plaza Operating Adviser, if any), on or before April 15 of each year,
commencing with April 15, 2003, (i) copies of the prior year operating
statements and quarterly statements, if available, for each Mortgaged Property
underlying a Specially Serviced Mortgage Loan or REO Property as of its fiscal
year end, provided that either the related Mortgage Note or Mortgage requires
the Mortgagor to provide such information, or if the related Mortgage Loan has
become an REO Property, (ii) a copy of the most recent rent roll available for
each Mortgaged Property, and (iii) a table, setting forth the Debt Service
Coverage Ratio and occupancy with respect to each Mortgaged Property covered by
the operating statements delivered above.

            (f) The Special Servicer shall deliver to the Master Servicer, the
Depositor, the Paying Agent and the Trustee all such other information with
respect to the Specially Serviced Mortgage Loans at such times and to such
extent as the Master Servicer, the Trustee, the Paying Agent or Depositor may
from time to time reasonably request; provided, however, that the Special
Servicer shall not be required to produce any ad hoc non-standard written
reports with respect to such Mortgage Loans except if any Person (other than the
Paying Agent or the Trustee) requesting such report pays a reasonable fee to be
determined by the Special Servicer.

            (g) The Special Servicer shall deliver a written Inspection Report
of each Specially Serviced Mortgage Loan in accordance with Section 9.4(b) to
the Operating Adviser (and, solely with respect to the One Seaport Plaza Pari
Passu Loan, the One Seaport Plaza Operating Adviser, if any) and to the Master
Servicer.

            Section 9.33 Special Servicer to Cooperate with the Master Servicer
and Paying Agent. (a) The Special Servicer shall furnish on a timely basis such
reports, certifications, and information as are reasonably requested by the
Master Servicer, the Trustee, the Paying Agent or any Primary Servicer to enable
it to perform its duties under this Agreement or any Primary Servicing
Agreement, as applicable; provided that no such request shall (i) require or
cause the Special Servicer to violate the Code, any provision of this Agreement,
including the Special Servicer's obligation to act in accordance with the
servicing standards set forth in this Agreement and to maintain the REMIC status
of any REMIC Pool or (ii) expose the Special Servicer, the Trust, the Fiscal
Agent, the Paying Agent or the Trustee to liability or materially expand the
scope of the Special Servicer's responsibilities under this Agreement. In
addition, the Special Servicer shall notify the Master Servicer of all
expenditures incurred by it with respect to the Specially Serviced Mortgage
Loans which are required to be made by the Master Servicer as Servicing Advances
as provided herein, subject to the provisions of Section 4.4 hereof. The Special
Servicer shall also remit all invoices relating to Servicing Advances promptly
upon receipt of such invoices.

            (b) The Special Servicer shall from time to time make reports,
recommendations and analyses to the Operating Adviser (and, solely with respect
to the One Seaport Plaza Pari Passu Loan, the One Seaport Plaza Operating
Adviser, if any) with respect to the following matters, the expense of which
shall be charged to the Operating Adviser (and, solely with respect to the One
Seaport Plaza Pari Passu Loan, the One Seaport Plaza Operating Adviser, if any),
but in no event shall such costs be an expense of the Trust:

            (i) whether the foreclosure of a Mortgaged Property relating to a
      Specially Serviced Mortgage Loan would be in the best economic interest of
      the Trust;

            (ii) if the Special Servicer elects to proceed with a foreclosure,
      whether a deficiency judgment should or should not be sought because the
      likely recovery will or will not be sufficient to warrant the cost, time
      and exposure of pursuing such judgment;

            (iii) whether the waiver or enforcement of any "due-on-sale" clause
      or "due-on-encumbrance" clause contained in a Mortgage Loan or a Specially
      Serviced Mortgage Loan is in the best economic interest of the Trust;

            (iv) in connection with entering into an assumption agreement from
      or with a person to whom a Mortgaged Property securing a Specially
      Serviced Mortgage Loan has been or is about to be conveyed, or to release
      the original Mortgagor from liability upon a Specially Serviced Mortgage
      Loan and substitute a new Mortgagor, and whether the credit status of the
      prospective new Mortgagor is in compliance with the Special Servicer's
      regular commercial mortgage origination or servicing standard;

            (v) in connection with the foreclosure on a Specially Serviced
      Mortgage Loan secured by a Mortgaged Property which is not in compliance
      with CERCLA, or any comparable environmental law, whether it is in the
      best economic interest of the Trust to bring the Mortgaged Property into
      compliance therewith and an estimate of the cost to do so; and

            (vi) with respect to any proposed modification (which shall include
      any proposed release, substitution or addition of collateral), extension,
      waiver, amendment, discounted payoff or sale of a Mortgage Loan, prepare a
      summary of such proposed action and an analysis of whether or not such
      action is reasonably likely to produce a greater recovery on a present
      value basis than liquidation of such Mortgage Loan; such analysis shall
      specify the basis on which the Special Servicer made such determination,
      including the status of any existing material default or the grounds for
      concluding that a payment default is imminent.

            Section 9.34 Reserved.

            Section 9.35 Reserved.

            Section 9.36 Sale of Defaulted Mortgage Loans. (a) Each Seller, as
to those Mortgage Loans sold to the Depositor by such Seller only, the holder of
Certificates evidencing the greatest percentage interest in the Controlling
Class and the Special Servicer (in such capacity, together with any assignee,
the "Option Holder") shall, in that order, have the right, at its option (the
"Option"), (which option shall be subject and subordinate to the Principal
Primary Servicer Option) to purchase a Mortgage Loan from the Trust at a price
equal to the Option Purchase Price upon receipt of notice from the Special
Servicer that such Mortgage Loan has become at least 60 days delinquent as to
any monthly debt service payment (or is delinquent as to its Balloon Payment).
The Option is exercisable, subject to the related Seller's right (after
receiving notice from the Trustee that an Option Holder intends to exercise its
Option) set forth in Section 2.3 to first repurchase such Mortgage Loan, from
that date until terminated pursuant to clause (e) below, and during that period
the Option shall be exercisable in any month only during the period from the
10th calendar day of such month through the 25th calendar day, inclusive, of
such month. The Trustee on behalf of the Trust shall be obligated to sell such
Mortgage Loan upon the exercise of the Option (whether exercised by the original
holder thereof or by a holder that acquired such Option by assignment), but
shall have no authority to sell such Mortgage Loan other than in connection with
the exercise of an Option (or in connection with a repurchase of a Mortgage Loan
under Article II, an optional termination pursuant to Section 10.1 or a
qualified liquidation of the REMIC Pools). Any Option Holder that exercises the
Option shall be required to purchase the applicable Mortgage Loan within 4
Business Days following such exercise. If any Option Holder desires to waive its
right to exercise the Option, then it shall so notify the Trustee in writing,
and the Trustee shall promptly notify the next party eligible to hold the Option
set forth above of its rights hereunder. Any of the other parties eligible to
hold the Option set forth above may at any time notify the Trustee in writing of
its desire to exercise the Option, and the Trustee shall promptly notify the
current Option Holder (and the other parties eligible to hold the Option) of
such party's desire to exercise the Option. If the Option Holder neither (i)
exercises the Option nor (ii) surrenders its right to exercise the Option within
3 Business Days of its receipt of that notice, then the Option Holder's right to
exercise the Option shall lapse, and the Trustee shall promptly notify the next
party eligible to hold the Option (and the other parties eligible to hold the
Option) of its rights thereunder.

            (b) The "Option Purchase Price" shall be an amount equal to the fair
value of the related Mortgage Loan, as determined by the Special Servicer. Prior
to the Special Servicer's determination of fair value referred to above, the
fair value of a Mortgage Loan shall be deemed to be an amount equal to the
Purchase Price plus (i) any prepayment penalty or yield maintenance charge then
payable upon the prepayment of such Mortgage Loan and (ii) the reasonable fees
and expenses of the Special Servicer, the Master Servicer and the Trustee
incurred in connection with the sale of the Mortgage Loan. The Special Servicer
shall determine the fair value of a Mortgage Loan on the later of (A) as soon as
reasonably practical upon the Mortgage Loan becoming 60 days delinquent or upon
the Balloon Payment becoming delinquent and (B) the date that is 75 days after
the Special Servicer's receipt of the Servicer Mortgage File relating to such
Mortgage Loan, and the Special Servicer shall promptly notify the Option Holder
(and the Trustee and each of the other parties set forth above that could become
the Option Holder) of the Option Purchase Price. The Special Servicer is
required to recalculate the fair value of the Mortgage Loan if there has been a
material change in circumstances or the Special Servicer has received new
information (including the receipt of a third party bid to purchase the Option),
either of which has a material effect on the fair value, provided that the
Special Servicer shall be required to recalculate the fair value of the Mortgage
Loan if the time between the date of last determination of the fair value of the
Mortgage Loan and the date of the exercise of the Option has exceeded 60 days.
Upon any recalculation, the Special Servicer shall be required to promptly
notify in writing each Option Holder (and the Trustee and each of the other
parties set forth above that could become the Option Holder) of the revised
Option Purchase Price. Any such recalculation of the fair value of the Mortgage
Loan shall be deemed to renew the Option in its original priority at the
recalculated price with respect to any party as to which the Option had
previously expired or been waived, unless the Option has previously been
exercised by an Option Holder at a higher Option Purchase Price. In determining
fair value, the Special Servicer shall take into account, among other factors,
the results of any appraisal or updated appraisal that it or the Master Servicer
may have obtained in accordance with this Agreement within the prior twelve (12)
months; any views on fair value expressed by Independent investors in mortgage
loans comparable to the Mortgage Loan (provided that the Special Servicer shall
not be obligated to solicit such views); the period and amount of any
delinquency on the affected Mortgage Loan; whether to the Special Servicer's
actual knowledge, the Mortgage Loan is in default to avoid a prepayment
restriction; the physical condition of the related Mortgaged Property; the state
of the local economy; the expected recoveries from the Mortgage Loan if the
Special Servicer were to pursue a workout or foreclosure strategy instead of the
Option being exercised; and the Trust's obligation to dispose of any REO
Property as soon as practicable consistent with the objective of maximizing
proceeds for all Certificateholders, but in no event later than the three-year
period (or such extended period) specified in Section 9.15. If the Mortgage Loan
to which the Option relates is the One Seaport Plaza Pari Passu Loan, then the
Option Holder, in connection with its exercise of the Option, shall also be
required to purchase the related One Seaport Plaza Companion Loan. The parties
hereto acknowledge that if the Lead One Seaport Plaza Companion Loan is
deposited into the Other Securitization and the Depositor elects that the One
Seaport Plaza Pari Passu Loan should be specially serviced by the Other Special
Servicer pursuant to the Other Pooling and Servicing Agreement, the Other
Pooling and Servicing Agreement may provide that if the holder of the option
thereunder repurchases the Lead One Seaport Plaza Companion Loan in connection
with its exercise of such option, then the holder of the option shall also be
required to purchase the One Seaport Plaza Pari Passu Loan. The parties hereto
acknowledge that under the 2002-HQ Pooling and Servicing Agreement, if the
holder of the option thereunder repurchases the 2002-HQ Mortgage Loan in
connection with its exercise of such option, then the holder of the option shall
also be required to purchase the Woodfield Pari Passu Loan.

            (c) Any Option relating to a Mortgage Loan shall be assignable to a
third party (including, in connection with the One Seaport Plaza Pari Passu
Loan, the holder of the related One Seaport Plaza Companion Loan) by the Option
Holder at its discretion at any time after its receipt of notice from the
Special Servicer that an Option is exercisable with respect to a specified
Mortgage Loan, and upon such assignment such third party shall have all of the
rights granted to the Option Holder hereunder in respect of the Option. Such
assignment shall only be effective upon written notice (together with a copy of
the executed assignment and assumption agreement) being delivered to the
Trustee, the Master Servicer and the Special Servicer, and none of such parties
shall be obligated to recognize any entity as an Option Holder absent such
notice.

            (d) If the Special Servicer, the holder of Certificates representing
the greatest percentage interest in the Controlling Class or an Affiliate of
either thereof elects to exercise the Option, the Trustee shall be required to
determine whether the Option Purchase Price constitutes a fair price for the
Mortgage Loan. Upon request of the Special Servicer to make such a
determination, the Trustee will do so within a reasonable period of time (but in
no event more than 15 Business Days). In doing so, the Trustee may rely on the
opinion of an appraiser or other expert in real estate matters retained by the
Trustee at the expense of the party exercising the Option. The Trustee may also
rely on the most recent appraisal of the related Mortgaged Property that was
prepared in accordance with this Agreement. If the Trustee were to determine
that the Option Purchase Price does not constitute a fair price, then the
Special Servicer shall redetermine the fair value taking into account the
objections of the Trustee.

            (e) The Option shall terminate, and shall not be exercisable as set
forth in clause (a) above (or if exercised, but the purchase of the related
Mortgage Loan has not yet occurred, shall terminate and be of no further force
or effect) if the Mortgage Loan to which it relates is no longer delinquent as
set forth above because the Mortgage Loan has (i) become a Rehabilitated
Mortgage Loan, (ii) been subject to a work-out arrangement, (iii) been
foreclosed upon or otherwise resolved (including by a full or discounted
pay-off) or (iv) been purchased by the related Seller pursuant to Section 2.3.

            (f) Unless and until an Option Holder exercises an Option, the
Special Servicer shall continue to service and administer the related Mortgage
Loan in accordance with the Servicing Standard and this Agreement, and shall
pursue such other resolution or recovery strategies, including workout or
foreclosure, as is consistent with this Agreement and the Servicing Standard.

            Section 9.37 Operating Adviser; Elections. (a) In accordance with
Section 9.37(c), the Certificateholders representing more than 50% of the
Certificate Balance of the Certificates of the then Controlling Class may elect
the operating adviser (the "Operating Adviser"). The Operating Adviser shall be
elected for the purpose of receiving reports and information from the Special
Servicer in respect of the Specially Serviced Mortgage Loans.

            (b) The initial Operating Adviser is Insignia Financial Services,
Inc. The Controlling Class shall give written notice to the Trustee, the Paying
Agent and the Master Servicer of the appointment of any subsequent Operating
Adviser (in order to receive notices hereunder). If a subsequent Operating
Adviser is not so appointed, an election of an Operating Adviser also shall be
held. Notice of the meeting of the Holders of the Controlling Class shall be
mailed or delivered to each Holder by the Paying Agent, not less than 10 nor
more than 60 days prior to the meeting. The notice shall state the place and the
time of the meeting, which may be held by telephone. A majority of Certificate
Balance of the Certificates of the then Controlling Class, present in person or
represented by proxy, shall constitute a quorum for the nomination of an
Operating Adviser. At the meeting, each Holder shall be entitled to nominate one
Person to act as Operating Adviser. The Paying Agent shall cause the election of
the Operating Adviser to be held as soon thereafter as is reasonably
practicable.

            (c) Each Holder of the Certificates of the Controlling Class shall
be entitled to vote in each election of the Operating Adviser. The voting in
each election of the Operating Adviser shall be in writing mailed, telecopied,
delivered or sent by courier and actually received by the Paying Agent on or
prior to the date of such election. Immediately upon receipt by the Paying Agent
of votes (which have not been rescinded) from the Holders of Certificates
representing more than 50% of the Certificate Balance of the Certificates of the
then Controlling Class which are cast for a single Person, such Person shall be,
upon such Person's acceptance, the Operating Adviser. The Paying Agent shall
promptly notify the Trustee of the identity of the Operating Adviser. Until an
Operating Adviser is elected by Holders of Certificates representing more than
50% of the Certificate Balance of the Certificates of the then Controlling Class
or in the event that an Operating Adviser shall have resigned or been removed
and a successor Operating Adviser shall not have been elected, there shall be no
Operating Adviser.

            (d) The Operating Adviser may be removed at any time by the written
vote, copies of which must be delivered to the Paying Agent, of more than 50% of
the Certificate Balance of the Holders of the Certificates of the then
Controlling Class.

            (e) The Paying Agent shall act as judge of each election and, absent
manifest error, the determination of the results of any election by the Paying
Agent shall be conclusive. Notwithstanding any other provisions of this Section
9.37, the Paying Agent may make such reasonable regulations as it may deem
advisable for any election.

            (f) Notwithstanding any provision of this Section 9.37 or any other
provision of this Agreement to the contrary, at any time that the Special
Servicer has been elected as Operating Adviser or no Operating Adviser has been
elected, (i) the Special Servicer shall not be required to deliver notices or
information to, or obtain the consent or approval of, the Operating Adviser and
(ii) to the extent any Person other than the Special Servicer is otherwise
required hereunder to provide notices or information to, or obtain the consent
or approval of, the Operating Adviser, such Person shall be required to provide
such notices or information to, or obtain the consent or approval of, the
Special Servicer.

            (g) The parties hereto agree and acknowledge that, notwithstanding
anything herein to the contrary, in the event that (i) the Lead One Seaport
Plaza Companion Loan is deposited into the Other Securitization and (ii) the
Depositor elects that the One Seaport Plaza Pari Passu Loan should be specially
serviced by the Other Special Servicer pursuant to the Other Pooling and
Servicing Agreement (and the Depositor receives Rating Agency Confirmation for
the same), the Certificateholders representing more than 50% of the certificate
balance of the certificates of the then controlling class of the Other
Securitization may elect the Operating Adviser with respect to the One Seaport
Plaza Pari Passu Loan and the One Seaport Plaza Companion Loan (the "One Seaport
Plaza Operating Adviser"). The One Seaport Plaza Operating Adviser shall be
elected for the purpose of receiving reports and information from the Other
Special Servicer in respect of the One Seaport Plaza Pari Passu Loan and the One
Seaport Plaza Companion Loan, in the event the One Seaport Plaza Pari Passu Loan
becomes a Specially Serviced Mortgage Loan. From and after the date the One
Seaport Plaza Operating Adviser is elected, the Operating Adviser shall have no
further rights with respect to the One Seaport Plaza Pari Passu Loan or the One
Seaport Plaza Companion Loan. The parties hereto agree and acknowledge that the
One Seaport Plaza Pari Passu Loan shall be elected and removed pursuant to the
provisions of the Other Pooling and Servicing Agreement.

            Section 9.38 Limitation on Liability of Operating Adviser and One
Seaport Plaza Operating Adviser. The Operating Adviser shall have no liability
to the Trust, the holder of any One Seaport Plaza Companion Loan or the
Certificateholders for any action taken, or for refraining from the taking of
any action, in good faith and using reasonable business judgment pursuant to
this Agreement, or using reasonable business judgment. By its acceptance of a
Certificate, each Certificateholder (and Certificate Owner) confirms its
understanding that the Operating Adviser may take actions that favor the
interests of one or more Classes of the Certificates over other Classes of the
Certificates and that the Operating Adviser may have special relationships and
interests that conflict with those of Holders of some Classes of the
Certificates and each holder of a One Seaport Plaza Companion Loan and each
Certificateholder (and Certificate Owner) agrees to take no action against the
Operating Adviser based upon such special relationship or conflict. The One
Seaport Plaza Operating Adviser shall have no liability to the Trust, the holder
of any One Seaport Plaza Companion Loan or the Certificateholders for any action
taken, or for refraining from the taking of any action, in good faith and using
reasonable business judgment pursuant to this Agreement, or using reasonable
business judgment. By its acceptance of a Certificate, each Certificateholder
(and Certificate Owner) confirms its understanding that the One Seaport Plaza
Operating Adviser may take actions that favor the interests of one or more
Classes of the Certificates over other Classes of the Certificates and that the
One Seaport Plaza Operating Adviser may have special relationships and interests
that conflict with those of Holders of some Classes of the Certificates and each
holder of a One Seaport Plaza Companion Loan and each Certificateholder (and
Certificate Owner) agrees to take no action against the One Seaport Plaza
Operating Adviser based upon such special relationship or conflict.

            Section 9.39 Duties of Operating Adviser and One Seaport Plaza
Operating Adviser. The Operating Adviser (and, solely with respect to the One
Seaport Plaza Pari Passu Loan, the One Seaport Plaza Operating Adviser, if any)
may advise, and receive notice from, the Special Servicer, but is not required
to do so on any of the following actions:

            (i) any foreclosure upon or comparable conversion (which may include
      acquisition of an REO Property) of the ownership of properties securing
      such of the Specially Serviced Mortgage Loans as come into and continue in
      default;

            (ii) any modification of a Money Term of a Mortgage Loan other than
      a modification consisting of the extension of the original Maturity Date
      of a Mortgage Loan for two years or less;

            (iii) with respect to notice only, any proposed sale of a Defaulted
      Mortgage Loan, pursuant to Section 9.36;

            (iv) any determination to bring an REO Property into compliance with
      Environmental Laws;

            (v) any acceptance of substitute or additional collateral for a
      Mortgage Loan not expressly permitted under such Mortgage Loan;

            (vi) any acceptance of a discounted payoff;

            (vii) any waiver of a "due-on-sale" or "due-on-encumbrance" clause;

            (viii) any acceptance of an assumption agreement releasing a
      Mortgagor from liability under a Mortgage Loan; and

            (ix) any release of collateral for a Specially Serviced Mortgage
      Loan (other than in accordance with the terms of or upon satisfaction of
      such Mortgage Loan).

            With respect to items (vii), (viii) and (ix), the Operating Adviser
(and, solely with respect to the One Seaport Plaza Pari Passu Loan, the One
Seaport Plaza Operating Adviser, if any) shall be subject to the same time
periods for advising the Special Servicer with respect to any such matters as
are afforded to the Special Servicer pursuant to Section 8.7, which periods
shall be co-terminus with those of the Special Servicer. In addition, the
Operating Adviser (and, solely with respect to the One Seaport Plaza Pari Passu
Loan, the One Seaport Plaza Operating Adviser, if any) may direct the Trustee to
remove the Special Servicer at any time upon the appointment and acceptance of
such appointment by a successor to the Special Servicer; provided that, prior to
the effectiveness of any such appointment, the Trustee and the Paying Agent
shall have received Rating Agency Confirmation from each Rating Agency. The
Operating Adviser (and, solely with respect to the One Seaport Plaza Pari Passu
Loan, the One Seaport Plaza Operating Adviser, if any) shall pay any costs and
expenses incurred by the Trust in connection with the removal and appointment of
a Special Servicer (unless such removal is based on any of the events or
circumstances set forth in Section 9.30(b)). The Trustee shall notify the Paying
Agent promptly upon its receipt of the direction set forth above.
Notwithstanding any other provision in this Agreement, the Operating Adviser
shall have the right to appoint a sub-operating adviser with respect to any
particular Mortgage Loan (other than the Woodfield Pari Passu Loan and the One
Seaport Plaza Pari Passu Loan). Such sub-operating adviser shall have the right,
subject to Rating Agency Confirmation, to appoint, or serve as, the special
servicer with respect to such Mortgage Loan. All references in this Agreement to
the "Operating Adviser" and the "Special Servicer" shall refer to the
sub-operating adviser or the special servicer appointed by the sub-operating
adviser, as applicable; provided, however, that neither such special servicer
nor Lend Lease Asset Management, L.P. shall have any advancing obligations with
respect to such Mortgage Loans.

                                    ARTICLE X

                      PURCHASE AND TERMINATION OF THE TRUST

            Section 10.1 Termination of Trust Upon Repurchase or Liquidation of
All Mortgage Loans. (a) The obligations and responsibilities of the Trustee and
the Paying Agent created hereby (other than the obligation of the Paying Agent,
to make payments to the Class R-I Certificateholders, the Class R-II
Certificateholders and REMIC III Certificateholders as set forth in Section 10.2
and other than the obligations in the nature of information or tax reporting)
shall terminate on the earliest of (i) the later of (A) the final payment or
other liquidation of the last Mortgage Loan remaining in the Trust (and final
distribution to the Certificateholders) and (B) the disposition of all REO
Property (and final distribution to the Certificateholders) or (ii) the sale of
the property held by the Trust in accordance with Section 10.1(b) or (iii) the
termination of the Trust pursuant to Section 10.1(c) below; provided that in no
event shall the Trust created hereby continue beyond the expiration of 21 years
from the death of the last survivor of the descendants of Joseph P. Kennedy, the
late Ambassador of the United States to the Court of St. James, living on the
date hereof.

            (b) The Master Servicer shall give the Trustee and the Paying Agent
notice of the date when the Principal Balance of the Mortgage Loans, after
giving effect to distributions of principal made on the next Distribution Date,
is less than or equal to 4.75% of the initial Aggregate Certificate Balance of
the Certificates as of the Cut-Off Date. The Trustee shall promptly forward such
notice to the Holder of a majority of the Controlling Class, the Depositor, the
Master Servicer, the Special Servicer and the Holders of the Class R-I
Certificates, and the Holder of a majority of the Controlling Class, the Master
Servicer, the Special Servicer and the Holders of the Class R-I Certificates, in
such priority (and in the case of the Class R-I Certificateholders, a majority
of the Class R-I Certificateholders), may purchase, in whole only, the Mortgage
Loans and any other property, if any, remaining in the Trust. If any party
desires to exercise such option, it will notify the Trustee who will notify any
party with a prior right to exercise such option. If any party that has been
provided notice by the Trustee (excluding the Depositor) notifies the Trustee
within ten Business Days after receiving notice of the proposed purchase that it
wishes to purchase the assets of the Trust, then such party (or, in the event
that more than one of such parties notifies the Trustee that it wishes to
purchase the assets of the Trust, the party with the first right to purchase the
assets of the Trust) may purchase the assets of the Trust in accordance with
this Agreement. Upon the Paying Agent's receipt of the Termination Price set
forth below, the Trustee shall promptly release or cause to be released to the
Master Servicer for the benefit of the Holder of the majority of the Class R-I
Certificates, the Special Servicer or the Master Servicer, as the case may be,
the Mortgage Files pertaining to the Mortgage Loans. The "Termination Price"
shall equal 100% of the aggregate Principal Balances of the Mortgage Loans
(other than Mortgage Loans as to which a Final Recovery Determination has been
made) on the day of such purchase plus accrued and unpaid interest thereon at
the applicable Mortgage Rates (or Mortgage Rates less the Master Servicing Fee
Rate if the Master Servicer is the purchaser), with respect to the Mortgage
Loans to the Due Date for each Mortgage Loan ending in the Collection Period
with respect to which such purchase occurs, plus unreimbursed Advances and
interest on such unreimbursed Advances at the Advance Rate, and the fair market
value of any other property remaining in REMIC I. The Trustee shall consult with
the Placement Agent and the Underwriters or their respective successors, as
advisers, in order for the Trustee to determine whether the fair market value of
the property constituting the Trust has been offered; provided that, if the
Placement Agent or any Underwriter or an Affiliate of the Placement Agent or the
Underwriters is exercising its right to purchase the Trust assets, the Trustee
shall consult with the Operating Adviser (and, solely with respect to the One
Seaport Plaza Pari Passu Loan, the One Seaport Plaza Operating Adviser, if any)
in order for the Trustee to determine the fair market value, provided that the
Operating Adviser is not an Affiliate of the Class R-I Holder, the Special
Servicer or the Master Servicer, or the Trustee (the fees and expenses of which
shall be paid for by buyer of the property). As a condition to the purchase of
the Trust pursuant to this Section 10.1(b), the Holder of the majority of the
Class R-I Certificates, the Special Servicer or the Master Servicer, as the case
may be, must deliver to the Trustee an Opinion of Counsel, which shall be at the
expense of such Holders, the Special Servicer or the Master Servicer, as the
case may be, stating that such termination will be a "qualified liquidation"
under section 860F(a)(4) of the Code. Such purchase shall be made in accordance
with Section 10.3.

            (c) If at any time the Holders of the Class R-I Certificates own
100% of the REMIC III Certificates such Holders may terminate REMIC I (which
will in turn result in the termination of REMIC II and REMIC III) upon (i) the
delivery to the Trustee and the Depositor of an Opinion of Counsel (which
opinion shall be at the expense of such Holders) stating that such termination
will be a "qualified liquidation" of each REMIC under Section 860F of the Code,
and (ii) the payment of any and all costs associated with such termination. Such
termination shall be made in accordance with Section 10.3.

            Section 10.2 Procedure Upon Termination of Trust. (a) Notice of any
termination pursuant to the provisions of Section 10.1, specifying the
Distribution Date upon which the final distribution shall be made, shall be
given promptly by the Trustee by first class mail to the Paying Agent, the
Rating Agencies, the Class R-I, Class R-II and REMIC III Certificateholders
mailed no later than ten days prior to the date of such termination. Such notice
shall specify (A) the Distribution Date upon which final distribution on the
Class R-I, Class R-II and REMIC III Certificates will be made, and upon
presentation and surrender of the Class R-I, Class R-II and REMIC III
Certificates at the office or agency of the Certificate Registrar therein
specified, and (B) that the Record Date otherwise applicable to such
Distribution Date is not applicable, distribution being made only upon
presentation and surrender of the Class R-I, Class R-II and REMIC III
Certificates at the office or agency of the Certificate Registrar therein
specified. The Trustee shall give such notice to the Depositor and the
Certificate Registrar at the time such notice is given to Holders of the Class
R-I, Class R-II and REMIC III Certificates. Upon any such termination, the
duties of the Certificate Registrar with respect to the Class R-I, Class R-II
and REMIC III Certificates shall terminate and the Trustee shall terminate, or
request the Master Servicer and the Paying Agent to terminate, the Certificate
Account and the Distribution Account and any other account or fund maintained
with respect to the Certificates, subject to the Paying Agent's obligation
hereunder to hold all amounts payable to the Class R-I, Class R-II and REMIC III
Certificateholders in trust without interest pending such payment.

            (b) In the event that all of the Holders do not surrender their
certificates evidencing the Class R-I, Class R-II and REMIC III Certificates for
cancellation within three months after the time specified in the above-mentioned
written notice, the Certificate Registrar shall give a second written notice to
the remaining Class R-I, Class R-II and REMIC III Certificateholders to
surrender their certificates evidencing the Class R-I, Class R-II and REMIC III
Certificates for cancellation and receive the final distribution with respect
thereto. If within one year after the second notice any Class R-I, Class R-II
and REMIC III Certificates shall not have been surrendered for cancellation, the
Certificate Registrar may take appropriate steps to contact the remaining Class
R-I, Class R-II and REMIC III Certificateholders concerning surrender of such
certificates, and the cost thereof shall be paid out of the amounts
distributable to such Holders. If within two years after the second notice any
such Class R-I, Class R-II and REMIC III Certificates shall not have been
surrendered for cancellation, the Paying Agent shall, subject to applicable
state law relating to escheatment, hold all amounts distributable to such
Holders for the benefit of such Holders. No interest shall accrue on any amount
held by the Trustee and not distributed to a Class R-I, Class R-II and REMIC III
Certificateholders due to such Certificateholder's failure to surrender its
Certificate(s) for payment of the final distribution thereon in accordance with
this Section. Any money held by the Paying Agent pending distribution under this
Section 10.2 after 90 days after the adoption of a plan of complete liquidation
shall be deemed for tax purposes to have been distributed from the REMIC Pools
and shall be beneficially owned by the related Holder.

            Section 10.3 Additional Trust Termination Requirements. (a) The
Trust and each REMIC Pool shall be terminated in accordance with the following
additional requirements, unless at the request of the Master Servicer or the
Class R-I Certificateholders, as the case may be, the Trustee seeks, and the
Paying Agent subsequently receives an Opinion of Counsel (at the expense of the
Master Servicer or the Class R-I Certificateholders, as the case may be),
addressed to the Depositor, the Trustee and the Paying Agent to the effect that
the failure of the Trust to comply with the requirements of this Section 10.3
will not (i) result in the imposition of taxes on "prohibited transactions" on
any REMIC Pool under the REMIC Provisions or (ii) cause any REMIC Pool to fail
to qualify as a REMIC at any time that any Certificates are outstanding:

            (i) Within 89 days prior to the time of the making of the final
      payment on the REMIC III Certificates the Trustee shall prepare and (on
      behalf of the REMIC I, REMIC II and REMIC III) shall adopt a plan of
      complete liquidation of the REMIC I Pool, meeting the requirements of a
      qualified liquidation under the REMIC Provisions, which plan need not be
      in any special form and the date of which, in general, shall be the date
      of the notice specified in Section 10.2(a) and shall be specified in a
      statement attached to the final federal income tax return of each REMIC
      Pool;

            (ii) At or after the date of adoption of such a plan of complete
      liquidation and at or prior to the time of making of the final payment on
      the REMIC III Certificates, the Trustee shall sell all of the assets of
      the Trust for cash at the Termination Price; provided that if the Holders
      of the Class R-I Certificates are purchasing the assets of the Trust, the
      amount to be paid by such Holders may be paid net of the amount to be paid
      to such Holders as final distributions on any Certificates held by such
      Holders;

            (iii) At the time of the making of the final payment on the
      Certificates, the Paying Agent shall distribute or credit, or cause to be
      distributed or credited, (A) to the Holders of the Class R-I Certificates
      all assets of REMIC I remaining after such final payment of the REMIC I
      Regular Interests, (B) to the Holders of the Class R-II Certificates all
      remaining assets of REMIC II after such final payment of the REMIC II
      Regular Interests and (C) to the Holders of the Class R-III Certificates
      all remaining assets of REMIC III (in each case other than cash retained
      to meet claims), and the Trust shall terminate at that time; and

            (iv) In no event may the final payment on the REMIC I Regular
      Interests, REMIC II Regular Interests or REMIC Regular Certificates or the
      final distribution or credit to the Holders of the Residual Certificates,
      respectively, be made after the 89th day from the date on which the plan
      of complete liquidation is adopted.

            (b) By their acceptance of the Class R-I, Class R-II or R-III
Certificates, respectively, the Holders thereof hereby (i) authorize the Trustee
to take such action as may be necessary to adopt a plan of complete liquidation
of each REMIC Pool and (ii) agree to take such other action as may be necessary
to adopt a plan of complete liquidation of the Trust upon the written request of
the Depositor, which authorization shall be binding upon all successor Class
R-I, Class R-II and Class R-III Certificateholders, respectively.

                                   ARTICLE XI

                          RIGHTS OF CERTIFICATEHOLDERS

            The provisions of this Article XI shall apply to each of the REMIC
Regular Certificateholders and Residual Certificateholders to the extent
appropriate.

            Section 11.1 Limitation on Rights of Holders. (a) The death or
incapacity of any Certificateholder shall not operate to terminate this
Agreement or the Trust, nor entitle such Certificateholder's legal
representatives or heirs to claim an accounting or take any action or proceeding
in any court for a partition or winding up of the Trust, nor otherwise affect
the rights, obligations and liabilities of the parties hereto or any of them.

            (b) Except as otherwise expressly provided herein, no
Certificateholder, solely by virtue of its status as a Certificateholder, shall
have any right to vote or in any manner otherwise control the Master Servicer or
operation and management of the Trust, or the obligations of the parties hereto,
nor shall anything herein set forth, or contained in the terms of the
Certificates, be construed so as to constitute the Certificateholders from time
to time as partners or members of an association, nor shall any
Certificateholder be under any liability to any third person by reason of any
action taken by the parties to this Agreement pursuant to any provision hereof.

            (c) No Certificateholder, solely by virtue of its status as
Certificateholder, shall have any right by virtue or by availing of any
provision of this Agreement to institute any suit, action or proceeding in
equity or at law upon or under or with respect to this Agreement unless the
Holders of Certificates evidencing not less than 50% of the Aggregate Principal
Amount of the Certificates then outstanding shall have made written request upon
the Trustee to institute such action, suit or proceeding in its own name as
Trustee hereunder and shall have offered to the Trustee such reasonable
indemnity as it may require against the cost, expenses and liabilities to be
incurred therein or thereby, and the Trustee, for sixty days after its receipt
of such notice, request and offer of indemnity, shall have neglected or refused
to institute any such action, suit or proceeding and no direction inconsistent
with such written request has been given the Trustee during such sixty-day
period by such Certificateholders; it being understood and intended, and being
expressly covenanted by each Certificateholder with every other
Certificateholder and the Trustee, that no one or more Holders of Certificates
shall have any right in any manner whatever by virtue or by availing of any
provision of this Agreement to affect, disturb or prejudice the rights of the
Holders of any other of such Certificates, or to obtain or seek to obtain
priority over or preference to any other such Holder, or to enforce any right
under this Agreement, except in the manner herein provided and for the benefit
of all Certificateholders. For the protection and enforcement of the provisions
of this Section, each and every Certificateholder and the Trustee shall be
entitled to such relief as can be given either at law or in equity.

            Section 11.2 Access to List of Holders. (a) If the Paying Agent is
not acting as Certificate Registrar, the Certificate Registrar will furnish or
cause to be furnished to the Trustee and the Paying Agent, within fifteen days
after receipt by the Certificate Registrar of a request by the Trustee or the
Paying Agent, as the case may be, in writing, a list, in such form as the
Trustee or the Paying Agent, as the case may be, may reasonably require, of the
names and addresses of the Certificateholders of each Class as of the most
recent Record Date.

            (b) If the Depositor, the Operating Adviser, the Special Servicer,
the Master Servicer, the Trustee or three or more Holders (hereinafter referred
to as "applicants," with a single Person which (together with its Affiliates) is
the Holder of more than one Class of Certificates being viewed as a single
"applicant" for these purposes) apply in writing to the Paying Agent and such
application states that the applicants desire to communicate with other Holders
with respect to their rights under this Agreement or under the Certificates and
is accompanied by a copy of the communication which such applicants propose to
transmit, then the Paying Agent shall, within five Business Days after the
receipt of such application, send, at such Person's expense, the written
communication proffered by the applicants to all Certificateholders at their
addresses as they appear in the Certificate Register.

            (c) Every Holder, by receiving and holding a Certificate, agrees
with the Depositor, the Certificate Registrar, the Paying Agent, the Master
Servicer and the Trustee that neither the Depositor, the Certificate Registrar,
the Paying Agent, the Master Servicer nor the Trustee shall be held accountable
by reason of the disclosure of any such information as to the names and
addresses of the Certificateholders hereunder, regardless of the source from
which such information was derived.

            Section 11.3 Acts of Holders of Certificates. (a) Any request,
demand, authorization, direction, notice, consent, waiver or other action
provided by this Agreement to be given or taken by Holders may be embodied in
and evidenced by one or more instruments of substantially similar tenor signed
by such Holders in person or by agent duly appointed in writing; and, except as
herein otherwise expressly provided, such action shall become effective when
such instrument or instruments are delivered to the Trustee and, where it is
hereby expressly required, to the Depositor and the Paying Agent. Such
instrument or instruments (as the action embodies therein and evidenced thereby)
are herein sometimes referred to as an "Act" of the Holders signing such
instrument or instruments. Proof of execution of any such instrument or of a
writing appointing any such agents shall be sufficient for any purpose of this
Agreement and conclusive in favor of the Trustee, the Depositor and the Paying
Agent, if made in the manner provided in this Section. The Trustee agrees to
promptly notify the Depositor of any such instrument or instruments received by
it, and to promptly forward copies of the same.

            (b) The fact and date of the execution by any Person of any such
instrument or writing may be proved by the affidavit of a witness of such
execution or by the certificate of any notary public or other officer authorized
by law to take acknowledgments or deeds, certifying that the individual signing
such instrument or writing acknowledged to such notary public or other officer
the execution thereof. Whenever such execution is by an officer of a corporation
or a member of a partnership on behalf of such corporation or partnership, such
certificate or affidavit shall also constitute sufficient proof of such
officer's or member's authority. The fact and date of the execution of any such
instrument or writing, or the authority of the individual executing the same,
may also be proved in any other manner which the Trustee deems sufficient.

            (c) The ownership of Certificates (notwithstanding any notation of
ownership or other writing thereon made by anyone other than the Trustee) shall
be proved by the Certificate Register, and neither the Trustee nor the Depositor
nor the Paying Agent shall be affected by any notice to the contrary.

            (d) Any request, demand, authorization, direction, notice, consent,
waiver or other action by the Holder of any Certificate shall bind every future
Holder of the same Certificate and the Holder of every Certificate issued upon
the registration of transfer thereof or in exchange therefor or in lieu thereof,
in respect of anything done, omitted or suffered to be done by the Trustee, the
Paying Agent or the Depositor in reliance thereon, whether or not notation of
such action is made upon such Certificate.

                                   ARTICLE XII

                              REMIC ADMINISTRATION

            The provisions of this Article XII shall apply to each REMIC Pool.

            Section 12.1 REMIC Administration. (a) An election will be made by
the Paying Agent on behalf of the Trustee to treat the segregated pool of assets
consisting of the Mortgage Loans, such amounts as shall from time to time be
held in the Certificate Account, the Interest Reserve Account, the Distribution
Account and the Reserve Account, the Insurance Policies (other than the interest
of the holder of any One Seaport Plaza Companion Loan), the principal and
interest portions of the Additional Interest Deposit (but not the prepayment
yield amount portion thereof) and any REO Account and REO Properties (other than
the interest of the holder of any One Seaport Plaza Companion Loan) as a REMIC
(REMIC I) under the Code, other than any portion of the foregoing amounts
allocable to a One Seaport Plaza Companion Loan. Such election will be made on
Form 1066 or other appropriate federal tax or information return or any
appropriate state return for the taxable year ending on the last day of the
calendar year in which the REMIC I Interests are issued. For purposes of such
election, the REMIC I Regular Interests shall each be designated as a separate
class of "regular interests" in REMIC I and the Class R-I Certificates shall be
designated as the sole class of "residual interests" in REMIC I. The Trustee and
the Paying Agent shall not permit the creation of any "interests" (within the
meaning of Section 860G of the Code) in any of the REMIC Pools other than the
REMIC I Regular Interests, the REMIC II Regular Interests, the REMIC Regular
Certificates and the Residual Certificates.

            An election will be made by the Paying Agent to treat the segregated
pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II)
under the Code. Such election will be made on Form 1066 or other appropriate
federal tax or information return or any appropriate state return for the
taxable year ending on the last day of the calendar year in which the REMIC II
Interests are issued. For the purposes of such election, the REMIC II Regular
Interests shall be designated as the "regular interests" in REMIC II and the
Class R-II Certificates shall be designated as the sole class of the "residual
interests" in REMIC II.

            An election will be made by the Paying Agent to treat the segregated
pool of assets consisting of the REMIC II Regular Interests as a REMIC (REMIC
III) under the Code. Such election will be made on Form 1066 or other
appropriate federal tax or information return or any appropriate state return
for the taxable year ending on the last day of the calendar year in which the
REMIC III Certificates are issued. For purposes of such election, the Class A-1,
Class A-2, Class A-3, Class A-4, Class B, Class C, Class D, Class E, Class F,
Class G, Class H, Class J, Class K, Class L, Class M, Class N and Class O
Certificates and each of the regular interests comprising the Class X-1 and
Class X-2 Certificates identified in the Preliminary Statement hereto shall be
designated as the "regular interests" in REMIC III and the Class R-III
Certificates shall be designated as the sole class of "residual interests" in
REMIC III.

            (b) The Closing Date is hereby designated as the "Startup Day" of
each REMIC Pool within the meaning of Section 860G(a)(9) of the Code.

            (c) The Paying Agent shall pay all routine tax related expenses (not
including any taxes, however denominated, including any additions to tax,
penalties and interest) of each REMIC Pool, excluding any professional fees or
extraordinary expenses related to audits or any administrative or judicial
proceedings with respect to each REMIC Pool that involve the Internal Revenue
Service or state tax authorities.

            (d) The Paying Agent shall cause to be prepared, signed, and timely
filed with the Internal Revenue Service, on behalf of each REMIC Pool, an
application for a taxpayer identification number for such REMIC Pool on Internal
Revenue Service Form SS-4. The Paying Agent, upon receipt from the Internal
Revenue Service of the Notice of Taxpayer Identification Number Assigned, shall
promptly forward a copy of such notice to the Depositor and the Master Servicer.
The Paying Agent shall prepare and file Form 8811 on behalf of each REMIC Pool
and shall designate an appropriate Person to respond to inquiries by or on
behalf of Certificateholders for original issue discount and related information
in accordance with applicable provisions of the Code.

            (e) The Paying Agent shall prepare and file, or cause to be prepared
and filed, all of each REMIC Pool's federal and state income or franchise tax
and information returns as such REMIC Pool's direct representative, and the
Trustee shall sign such returns; the expenses of preparing and filing such
returns shall be borne by the Paying Agent, except that if additional state tax
returns are required to be filed in more than three states, the Paying Agent
shall be entitled, with respect to any such additional filings, to (i) be paid a
reasonable fee and (ii) receive its reasonable costs and expenses, both as
amounts reimbursable pursuant to Section 5.2(a)(vi) hereof. The Depositor, the
Master Servicer and the Special Servicer shall provide on a timely basis to the
Paying Agent or its designee such information with respect to the Trust or any
REMIC Pool as is in its possession, which the Depositor or the Master Servicer
and the Special Servicer has received or prepared by virtue of its role as
Depositor or Master Servicer and the Special Servicer hereunder and reasonably
requested by the Paying Agent to enable it to perform its obligations under this
subsection, and the Paying Agent shall be entitled to conclusively rely on such
information in the performance of its obligations hereunder. The Depositor shall
indemnify the Trust, the Trustee, the Paying Agent and the Fiscal Agent for any
liability or assessment against any of them or cost or expense (including
attorneys' fees) incurred by them resulting from any error resulting from bad
faith, negligence, or willful malfeasance of the Depositor in providing any
information for which the Depositor is responsible for preparing. The Master
Servicer and the Special Servicer shall indemnify the Trustee, the Fiscal Agent,
the Paying Agent and the Depositor for any liability or assessment against the
Trustee, the Fiscal Agent, the Depositor, the Paying Agent or any REMIC Pool and
any expenses incurred in connection with such liability or assessment (including
attorneys' fees) resulting from any error in any of such tax or information
returns resulting from errors in the information provided by the Master Servicer
or the Special Servicer, as the case may, be or caused by the negligence,
willful misconduct or bad faith of the Master Servicer or the Special Servicer,
as the case may be. The Paying Agent shall indemnify the Master Servicer, the
Depositor or any REMIC Pool for any expense incurred by the Master Servicer, the
Depositor and any REMIC Pool resulting from any error in any of such tax or
information returns resulting from errors in the preparation of such returns
caused by the negligence, willful misconduct or bad faith of the Paying Agent.
Each indemnified party shall immediately notify the indemnifying party or
parties of the existence of a claim for indemnification under this Section
12.1(e), and provide the indemnifying party or parties, at the expense of such
indemnifying party or parties, an opportunity to contest the tax or assessment
or expense giving rise to such claim, provided that the failure to give such
notification rights shall not affect the indemnification rights in favor of any
REMIC Pool under this Section 12.1(e). Any such indemnification shall survive
the resignation or termination of the Master Servicer, the Paying Agent or the
Special Servicer, or the termination of this Agreement.

            (f) The Paying Agent shall perform on behalf of each REMIC Pool all
reporting and other tax compliance duties that are the responsibility of such
REMIC Pool under the Code, REMIC Provisions, or other compliance guidance issued
by the Internal Revenue Service or any state or local taxing authority. Among
its other duties, the Paying Agent shall provide (i) to the Internal Revenue
Service or other Persons (including, but not limited to, the Transferor of a
Residual Certificate, to a Disqualified Organization or to an agent that has
acquired a Residual Certificate on behalf of a Disqualified Organization) such
information as is necessary for the application of any tax relating to the
transfer of a Residual Certificate to any Disqualified Organization and (ii) to
the Certificateholders such information or reports as are required by the Code
or REMIC Provisions.

            (g) The Paying Agent shall forward to the Depositor copies of
quarterly and annual REMIC tax returns and Internal Revenue Service Form 1099
information returns and such other information within the control of the Paying
Agent as the Depositor may reasonably request in writing. Moreover, the Paying
Agent shall forward to each Certificateholder such forms and furnish such
information within its control as are required by the Code to be furnished to
them, shall prepare and file with the appropriate state authorities as may to
the actual knowledge of a Responsible Officer of the Paying Agent be required by
applicable law and shall prepare and disseminate to Certificateholders Internal
Revenue Service Forms 1099 (or otherwise furnish information within the control
of the Paying Agent) to the extent required by applicable law. The Paying Agent
will make available to any Certificateholder any tax related information
required to be made available to Certificateholders pursuant to the Code and any
regulations thereunder.

            (h) The Holder of more than 50% of the Percentage Interests in Class
R-I, Class R-II and Class R-III Certificates, respectively (or of the greatest
percentage of such Class R-I, Class R-II and Class R-III Certificates if no
Holder holds more than 50% thereof), shall be the applicable REMIC Pool's Tax
Matters Person. The duties of the Tax Matters Person for each of the REMIC Pools
are hereby delegated to the Paying Agent and each Residual Certificateholder, by
acceptance of its Residual Certificate, agrees, on behalf of itself and all
successor holders of such Residual Certificate, to such delegation to the Paying
Agent as their agent and attorney in fact. If the Code or applicable regulations
prohibits the Paying Agent from signing any applicable Internal Revenue Service,
court or other administrative documents or from acting as Tax Matters Person (as
an agent or otherwise), the Paying Agent shall take whatever action is necessary
for the signing of such documents and designation of a Tax Matters Person,
including the designation of such Residual Certificateholder. The Paying Agent
shall not be required to expend or risk its own funds or otherwise incur any
other financial liability in the performance of its duties hereunder or in the
exercise of any of its rights or powers (except to the extent of the ordinary
expenses of performing its duties under this Agreement), if it shall have
reasonable grounds for believing that repayment of such funds or adequate
indemnity against such risk or liability is not reasonably assured to it.

            (i) The Trustee, the Paying Agent, the Holders of the Residual
Certificates, the Master Servicer and the Special Servicer shall each exercise
reasonable care, to the extent within its control, and with respect to each of
the Trustee, Paying Agent, the Master Servicer and the Special Servicer, within
the scope of its express duties, and shall each act in accordance with this
Agreement and the REMIC Provisions in order to create and maintain the status of
each REMIC Pool as a REMIC or, as appropriate, adopt a plan of complete
liquidation.

            (j) The Trustee, the Paying Agent, the Master Servicer, the Special
Servicer, the Fiscal Agent and the Holders of Residual Certificates shall not
take any action or fail to take any action or cause any REMIC Pool to take any
action or fail to take any action if any of such persons knows or could, upon
the exercise of reasonable diligence, know, that, under the REMIC Provisions
such action or failure, as the case may be, could (i) endanger the status of any
REMIC Pool as a REMIC or (ii) result in the imposition of a tax upon any REMIC
Pool (including but not limited to the tax on prohibited transactions as defined
in Code Section 860F(a)(2)) unless the Trustee and the Paying Agent have
received an Opinion of Counsel (at the expense of the party seeking to take such
action) to the effect that the contemplated action will not endanger such status
or result in the imposition of such a tax. Any action required under this
section which would result in an unusual or unexpected expense shall be
undertaken at the expense of the party seeking the Trustee, the Paying Agent or
the Holders of the Residual Certificates to undertake such action.

            (k) In the event that any tax is imposed on REMIC I, REMIC II or
REMIC III, including, without limitation, "prohibited transactions" taxes as
defined in Section 860F(a)(2) of the Code, any tax on "net income from
foreclosure property" as defined in Section 860G(c) of the Code, any taxes on
contributions to REMIC I, REMIC II or REMIC III after the Startup Day pursuant
to Section 860G(d) of the Code, and any other tax imposed by the Code or any
applicable provisions of state or local tax laws (other than any tax permitted
to be incurred by the Special Servicer pursuant to Section 9.14(e)), such tax,
together with all incidental costs and expenses (including, without limitation,
penalties and reasonable attorneys' fees), shall be charged to and paid by: (i)
the Paying Agent, if such tax arises out of or results from a breach of any of
its obligations under this Agreement; (ii) the Special Servicer, if such tax
arises out of or results from a breach by the Special Servicer of any of its
obligations under this Agreement; (iii) the Master Servicer, if such tax arises
out of or results from a breach by the Master Servicer of any of its obligations
under this Agreement; (iv) the Fiscal Agent, if such tax arises out of or
results from a breach by the Fiscal Agent of any of its obligations under this
Agreement; and (v) the Trust in all other instances. Any tax permitted to be
incurred by the Special Servicer pursuant to Section 9.14(e) shall be charged to
and paid by the Trust from the net income generated on the related REO Property.
Any such amounts payable by the Trust in respect of taxes shall be paid by the
Paying Agent out of amounts on deposit in the Distribution Account.

            (l) The Paying Agent and, to the extent that records are maintained
by the Master Servicer or the Special Servicer in the normal course of its
business, the Master Servicer and the Special Servicer shall, for federal income
tax purposes, maintain books and records with respect to each REMIC Pool on a
calendar year and on an accrual basis. Notwithstanding anything to the contrary
contained herein, except to the extent provided otherwise in the Mortgage Loans
or in the Mortgages, all amounts collected on the Mortgage Loans shall, for
federal income tax purposes, be allocated first to interest due and payable on
the Mortgage Loans (including interest on overdue interest, other than
additional interest at a penalty rate payable following a default). The books
and records must be sufficient concerning the nature and amount of each REMIC
Pool's investments to show that such REMIC Pool has complied with the REMIC
Provisions.

            (m) Neither the Trustee, the Paying Agent, the Master Servicer nor
the Special Servicer shall enter into any arrangement by which any REMIC Pool
will receive a fee or other compensation for services.

            (n) In order to enable the Paying Agent to perform its duties as set
forth herein, the Depositor shall provide, or cause to be provided, to the
Paying Agent within ten (10) days after the Closing Date all information or data
that the Paying Agent reasonably determines to be relevant for tax purposes on
the valuations and offering prices of the Certificates, including, without
limitation, the yield, prepayment assumption, issue prices and projected cash
flows of the Certificates, as applicable, and the projected cash flows of the
Mortgage Loans. Thereafter, the Depositor shall provide to the Paying Agent or
its designee, promptly upon request therefor, any such additional information or
data within the Depositor's possession or knowledge that the Paying Agent may,
from time to time, reasonably request in order to enable the Paying Agent to
perform its duties as set forth herein. The Paying Agent is hereby directed to
use any and all such information or data provided by the Depositor in the
preparation of all federal and state income or franchise tax and information
returns and reports for each REMIC Pool to Certificateholders as required
herein. The Depositor hereby indemnifies the Trustee, the Paying Agent, the
Fiscal Agent and each REMIC Pool for any losses, liabilities, damages, claims,
expenses (including attorneys' fees) or assessments against the Trustee, the
Paying Agent, the Fiscal Agent and each REMIC Pool arising from any errors or
miscalculations of the Paying Agent pursuant to this Section that result from
any failure of the Depositor to provide, or to cause to be provided, accurate
information or data to the Paying Agent (but not resulting from the methodology
employed by the Paying Agent) on a timely basis and such indemnification shall
survive the termination of this Agreement and the termination or resignation of
the Paying Agent and the Fiscal Agent.

            The Paying Agent agrees that all such information or data so
obtained by it are to be regarded as confidential information and agrees that it
shall use its reasonable best efforts to retain in confidence, and shall ensure
that its officers, employees and representatives retain in confidence, and shall
not disclose, without the prior written consent of the Depositor, any or all of
such information or data, or make any use whatsoever (other than for the
purposes contemplated by this Agreement) of any such information or data without
the prior written consent of the Depositor, unless such information is generally
available to the public (other than as a result of a breach of this Section
12.1(n)) or is required by law or applicable regulations to be disclosed or is
disclosed (i) to independent auditors and accountants, counsel and other
professional advisers of the Paying Agent and its parent, or (ii) in connection
with its rights and obligations under this Agreement.

            (o) At all times as may be required by the Code, the Master Servicer
will to the extent within its control and the scope of its duties more
specifically set forth herein, maintain substantially all of the assets of REMIC
I as "qualified mortgages" as defined in Section 860G(a)(3) of the Code and
"permitted investments" as defined in Section 860G(a)(5) of the Code.

            (p) For the purposes of Treasury Regulations Section
1.860G-1(a)(4)(iii), the "latest possible maturity date" for each Class of
Certificates representing a regular interest in REMIC III, for each Class of
REMIC I Regular Interests and for each Class of REMIC II Regular Interests is
the Final Rated Distribution Date.

            Section 12.2 Prohibited Transactions and Activities. Neither the
Trustee, the Paying Agent, the Master Servicer nor the Special Servicer shall
permit the sale, disposition or substitution of any of the Mortgage Loans
(except in a disposition pursuant to (i) the foreclosure or default of a
Mortgage Loan, (ii) the bankruptcy or insolvency of any REMIC Pool, (iii) the
termination of any REMIC Pool in a "qualified liquidation" as defined in Section
860F(a)(4) of the Code, or (iv) a substitution pursuant to Article II hereof),
nor acquire any assets for the Trust, except as provided in Article II hereof,
nor sell or dispose of any investments in the Certificate Account or
Distribution Account for gain, nor accept any contributions to any REMIC Pool
(other than a cash contribution during the 3-month period beginning on the
Startup Day), unless it has received an Opinion of Counsel (at the expense of
the Person requesting such action) to the effect that such disposition,
acquisition, substitution, or acceptance will not (A) affect adversely the
status of any REMIC Pool as a REMIC or of the REMIC Regular Certificates as the
regular interests therein, (B) affect the distribution of interest or principal
on the Certificates, (C) result in the encumbrance of the assets transferred or
assigned to any REMIC Pool (except pursuant to the provisions of this Agreement)
or (D) cause any REMIC Pool to be subject to a tax on "prohibited transactions"
or "prohibited contributions" or other tax pursuant to the REMIC Provisions.

            Section 12.3 Modifications of Mortgage Loans. Notwithstanding
anything to the contrary in this Agreement, neither the Trustee, the Paying
Agent, the Master Servicer nor the Special Servicer shall permit any
modification of a Money Term of a Mortgage Loan or a Specially Serviced Mortgage
Loan that is not in default or as to which default is not reasonably foreseeable
unless (i) the Trustee, the Special Servicer, Paying Agent and the Master
Servicer have received a Nondisqualification Opinion or a ruling from the
Internal Revenue Service (at the expense of the party making the request that
the Master Servicer or the Special Servicer modify the Mortgage Loan or a
Specially Serviced Mortgage Loan) to the effect that such modification would not
be treated as an exchange pursuant to Section 1001 of the Code (or, if it would
be so treated, would not be treated as a "significant modification" for purposes
of Treasury Regulations Section 1.860G-2(B) of the Code) or (ii) such
modification meets the requirements set forth in Sections 8.18 or 9.5.

            Section 12.4 Liability with Respect to Certain Taxes and Loss of
REMIC Status. In the event that any REMIC Pool fails to qualify as a REMIC,
loses its status as a REMIC, or incurs state or local taxes, or tax as a result
of a prohibited transaction or prohibited contribution subject to taxation under
the REMIC Provisions due to the negligent performance by either the Trustee or
the Paying Agent of its respective duties and obligations set forth herein, the
Trustee or the Paying Agent, as the case may be, shall be liable to the REMIC
Pools and the Holders of the Residual Certificates for any and all losses,
claims, damages, liabilities or expenses ("Losses") resulting from such
negligence and relating to the Residual Certificates; provided, however, that
the Trustee, or the Paying Agent, as applicable, shall not be liable for any
such Losses attributable to the action or inaction of the Master Servicer, the
Special Servicer, the Trustee (with respect to the Paying Agent), the Paying
Agent (with respect to the Trustee), the Depositor or the Holders of such
Residual Certificates nor for any such Losses resulting from any actions or
failure to act based upon reliance on an Opinion of Counsel or from
misinformation provided by the Master Servicer, the Special Servicer, the
Trustee (with respect to the Paying Agent), the Paying Agent (with respect to
the Trustee), the Depositor or such Holders of the Residual Certificates on
which the Trustee or the Paying Agent, as the case may be, has relied. The
foregoing shall not be deemed to limit or restrict the rights and remedies of
the Holders of the Residual Certificates now or hereafter existing at law or in
equity. The Trustee or the Paying Agent shall be entitled to intervene in any
litigation in connection with the foregoing and to maintain control over its
defense.

                                  ARTICLE XIII

                            MISCELLANEOUS PROVISIONS

            Section 13.1 Binding Nature of Agreement. This Agreement shall be
binding upon and inure to the benefit of the parties hereto and their respective
successors and permitted assigns.

            Section 13.2 Entire Agreement. This Agreement contains the entire
agreement and understanding between the parties hereto with respect to the
subject matter hereof, and supersedes all prior and contemporaneous agreements,
understandings, inducements and conditions, express or implied, oral or written,
of any nature whatsoever with respect to the subject matter hereof. The express
terms hereof control and supersede any course of performance or usage of the
trade inconsistent with any of the terms hereof.

            Section 13.3 Amendment. (a) This Agreement may be amended from time
to time by the parties hereto, without notice to or the consent of any of the
Holders, (i) to cure any ambiguity, (ii) to cause the provisions herein to
conform to or be consistent with or in furtherance of the statements made with
respect to the Certificates, the Trust or this Agreement in the Private
Placement Memorandum, the Preliminary Prospectus Supplement, the Final
Prospectus Supplement or the Prospectus, or to correct or supplement any
provision herein which may be inconsistent with any other provisions herein,
(iii) to amend any provision hereof to the extent necessary or desirable to
maintain the status of each REMIC Pool as a REMIC for the purposes of federal
income tax law (or comparable provisions of state income tax law), (iv) to make
any other provisions with respect to matters or questions arising under or with
respect to this Agreement not inconsistent with the provisions hereof, (v) to
modify, add to or eliminate the provisions of Article III relating to transfers
of Residual Certificates, (vi) to amend any provision herein to the extent
necessary or desirable to list the Certificates on a stock exchange, including,
without limitation, the appointment of one or more sub-paying agents and the
requirement that certain information be delivered to such sub-paying agents or
(vii) to make any other amendment which does not adversely affect in any
material respect the interests of any Certificateholder (unless such
Certificateholder consents). No such amendment effected pursuant to clause (i),
(ii) or (iv) of the preceding sentence shall (A) adversely affect in any
material respect the interests of any Holder not consenting thereto, without the
consent of 100% of the Certificateholders or (B) adversely affect the status of
any REMIC Pool as a REMIC. Prior to entering into any amendment without the
consent of Holders pursuant to this paragraph, the Trustee may require an
Opinion of Counsel and a Nondisqualification Opinion (in the case of clauses
(i), (ii) and (iii), at the expense of the Depositor, and otherwise at the
expense of the party requesting such amendment, except that if the Trustee
requests such amendment, such amendment shall be at the expense of the
Depositor, if the Depositor consents), to the effect that such amendment is
permitted under this paragraph. Any such amendment shall be deemed not to
adversely affect in any material economic respect any Holder if the Trustee
receives a Rating Agency Confirmation from each Rating Agency (and any Opinion
of Counsel requested by the Trustee in connection with any such amendment may
rely expressly on such confirmation as the basis therefor).

            (b) This Agreement may also be amended from time to time by the
agreement of the parties hereto (without the consent of the Certificateholders)
and with the written confirmation of the Rating Agencies that such amendment
would not cause the ratings on any Class of Certificates to be qualified,
withdrawn or downgraded; provided, however, that such amendment may not effect
any of the items set forth in clauses (i) through (iv) of the proviso in
paragraph (c) of this Section 13.3. The Trustee may request, at its option, to
receive a Nondisqualification Opinion and an Opinion of Counsel that any
amendment pursuant to this Section 13.3(b) is permitted by this Agreement at the
expense of the party requesting the amendment.

            (c) This Agreement may also be amended from time to time by the
parties with the consent of the Holders of not less than 51% of the Aggregate
Certificate Balance of the Certificates then outstanding, for the purpose of
adding any provisions to or changing in any manner or eliminating any of the
provisions of this Agreement or of modifying in any manner the rights of the
Holders; provided that no such amendment may (i) reduce in any manner the amount
of, or delay the timing of the distributions required to be made on any
Certificate without the consent of the Holder of such Certificate, (ii) reduce
the aforesaid percentages of Aggregate Certificate Percentage or Certificate
Balance, the Holders of which are required to consent to any such amendment
without the consent of all the Holders of each Class of Certificates affected
thereby, (iii) no such amendment shall eliminate the Master Servicer's, the
Trustee's or the Fiscal Agent's obligation to Advance or alter the Servicing
Standard except as may be necessary or desirable to comply with the REMIC
Provisions or (iv) adversely affect the status of any REMIC Pool as a REMIC for
federal income tax purposes (as evidenced by a Nondisqualification Opinion),
without the consent of 100% of the Certificateholders (including the Class R-I,
Class R-II and Class R-III Certificateholders); provided that no such amendment
may modify Section 8.18 of this Agreement without Rating Agency Confirmation.
The Trustee may request, at its option, to receive a Nondisqualification Opinion
and an Opinion of Counsel that any amendment pursuant to this Section 13.3(c) is
permitted by this Agreement at the expense of the party requesting the
amendment.

            (d) The costs and expenses associated with any such amendment shall
be borne by the Depositor in the case the Trustee is the party requesting such
amendment or if pursuant to clauses (i), (ii) and (iii) of Section 13.3(a). In
all other cases, the costs and expenses shall be borne by the party requesting
the amendment.

            (e) Promptly after the execution of any such amendment, the Trustee
shall furnish written notification of the substance of such amendment to each
Holder, the Depositor and to the Rating Agencies.

            (f) It shall not be necessary for the consent of Holders under this
Section 13.3 to approve the particular form of any proposed amendment, but it
shall be sufficient if such consent shall approve the substance thereof. The
manner of obtaining such consents and of evidencing the authorization of the
execution thereof by Holders shall be in the affirmative and in writing and
shall be subject to such reasonable regulations as the Trustee may prescribe.

            (g) Notwithstanding anything to the contrary contained in this
Section 13.3, the parties hereto agree that this Agreement may not be amended in
any manner that is reasonably likely to have an adverse effect on any Primary
Servicer without first obtaining the written consent of such Primary Servicer.

            (h) Notwithstanding the fact that the provisions in Section 13.3(c)
would otherwise apply, with respect to any amendment that significantly modifies
the permitted activities of the Trustee, the Master Servicer or the Special
Servicer, any Certificate beneficially owned by a Seller or any of its
Affiliates shall be deemed not to be outstanding (and shall not be considered
when determining the percentage of Certificateholders consenting or when
calculating the total number of Certificates entitled to consent) for purposes
of determining if the requisite consents of Certificateholders under this
Section 13.3 have been obtained.

            Section 13.4 GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, AND THE
OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN
ACCORDANCE WITH SUCH LAWS WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED
IN NEW YORK.

            Section 13.5 Notices. All demands, notices and communications
hereunder shall be in writing and shall be deemed to have been duly given when
received by (A) in the case of the Depositor, Morgan Stanley Dean Witter Capital
I Inc., 1585 Broadway, New York, New York 10036, Attention: Cecilia Tarrant,
with a copy to the attention of Michelle Wilke; (B) in the case of the Trustee,
Certificate Registrar, Paying Agent and the Fiscal Agent, at the Corporate Trust
Office; (C) in the case of the Master Servicer, ORIX Capital Markets, LLC, 1717
Main Street, 9th Floor, Dallas, Texas 75201, Attention: Edgar L. Smith, II, with
a copy to ORIX Capital Markets, LLC, 1717 Main Street, 10th Floor, Dallas, Texas
75201, attention Paul Smyth, Fax: (214) 237-2041 -- Morgan Stanley Dean Witter
Capital I Inc., Commercial Mortgage Pass-Through Certificates, Series 2002-IQ2,
with a copy to the Legal Department; (D) in the case of the Special Servicer,
Lend Lease Asset Management, L.P., 700 N. Pearl Street, Suite 2400, Dallas,
Texas 75201, Attention: Michael O'Hanlon; (E) in the case of JHREF, John Hancock
Real Estate Finance, Inc., 200 Clarendon Street, Boston, Massachusetts 02117,
Attention: Barry S. Nectow, Senior Vice President, with copies to the attention
of Michael M. Epstein, Esq. and Nathaniel I. Margolis, Esq.; (F) in the case of
MSDWMC, Morgan Stanley Dean Witter Mortgage Capital Inc., 1585 Broadway, New
York, New York 10036, Attention: Cecilia Tarrant; (G) in the case of Principal,
Principal Silver, LLC, 801 Grand Avenue, Des Moines, Attention: Pat Halter; (H)
in the case of State Farm, State Farm Life Insurance Company, One State Farm
Plaza, E-7, Bloomington, Illinois 61710, Attention: David C. Graves, Vice
President - Mortgages and Real Estate; (I) in the case of TIAA, Teachers
Insurance and Annuity Association of America, 730 Third Avenue, New York, New
York 10018 Attention: Associate Director-CMBS Marketing with copies to the
V.P.-Mortgage and Real Estate Law; and (J) in the case of the Operating Adviser,
Insignia Financial Services, 91 East Elm Street, Greenwich, Connecticut,
Attention: Brenda J. Mixson; with a copy to Insignia Financial Services, Inc.,
200 Park Avenue, New York, New York 10166, Attention: Jeffrey Cohen; and a copy
to Insignia Financial Group, Inc., 15 South Main Street, Suite 900, Greenville,
South Carolina 29601, Attention: Tara Currin, or as to each party such other
address as may hereafter be furnished by such party to the other parties in
writing. Any notice required or permitted to be mailed to a Holder shall be
given by first class mail, postage prepaid, at the address of such Holder as
shown in the Certificate Register. Any notice so mailed within the time
prescribed in this Agreement shall be conclusively presumed to have been duly
given, whether or not the Holder receives such notice.

            Section 13.6 Severability of Provisions. If any one or more of the
covenants, agreements, provisions or terms of this Agreement shall be for any
reason whatsoever held invalid, then such covenants, agreements, provisions or
terms shall be deemed severable from the remaining covenants, agreements,
provisions or terms of this Agreement and shall in no way affect the validity or
enforceability of the other provisions of this Agreement or of the Certificates
or the rights of the Holders thereof.

            Section 13.7 Indulgences; No Waivers. Neither the failure nor any
delay on the part of a party to exercise any right, remedy, power or privilege
under this Agreement shall operate as a waiver thereof, nor shall any single or
partial exercise of any right, remedy, power or privilege preclude any other or
further exercise of the same or of any other right, remedy, power or privilege,
nor shall any waiver of any right, remedy, power or privilege with respect to
any occurrence be construed as a waiver of such right, remedy, power or
privilege with respect to any other occurrence. No waiver shall be effective
unless it is in writing and is signed by the party asserted to have granted such
waiver.

            Section 13.8 Headings Not to Affect Interpretation. The headings
contained in this Agreement are for convenience of reference only, and shall not
be used in the interpretation hereof.

            Section 13.9 Benefits of Agreement. Nothing in this Agreement or in
the Certificates, express or implied, shall give to any Person, other than the
parties to this Agreement (including any Primary Servicer to the extent
applicable to such Primary Servicer) and their successors hereunder and the
Holders of the Certificates, any benefit or any legal or equitable right, power,
remedy or claim under this Agreement; provided, however, that the Mortgagors set
forth on Schedule VIII hereto are intended third-party beneficiaries of the
fifth and sixth paragraphs of Section 2.3(a) and the holder of each One Seaport
Plaza Companion Loan is an intended third-party beneficiary in respect of the
rights afforded it hereunder.

            Section 13.10 Special Notices to the Rating Agencies. (a) The
Trustee shall give prompt notice to the Rating Agencies, Special Servicer and
the Operating Adviser (and, solely with respect to the One Seaport Plaza Pari
Passu Loan, the One Seaport Plaza Operating Adviser, if any) of the occurrence
of any of the following events of which it has notice:

            (i) any amendment to this Agreement pursuant to Section 13.3 hereof;

            (ii) the Interim Certification and the Final Certification required
      pursuant to Section 2.2 hereof;

            (iii) notice of the repurchase of any Mortgage Loan pursuant to
      Section 2.3(a) hereof;

            (iv) any resignation of the Master Servicer, Special Servicer, the
      Paying Agent, the Operating Adviser or the Trustee pursuant to this
      Agreement;

            (v) the appointment of any successor to the Master Servicer, the
      Trustee, the Fiscal Agent, the Paying Agent, the Operating Adviser or the
      Special Servicer pursuant to Section 7.7, 7.14 or 9.37 hereof;

            (vi) waiver of a due-on-sale clause as provided in Section 8.7;

            (vii) waiver of a prohibition on subordinate liens on the Mortgaged
      Properties;

            (viii) the making of a final payment pursuant to Section 10.3
      hereof;

            (ix) a Servicing Transfer Event; and

            (x) an Event of Default.

            (b) All notices to the Rating Agencies shall be in writing and sent
by first class mail, telecopy or overnight courier, as follows:

            If to Fitch, to:

                  Fitch Ratings
                  One State Street Plaza
                  New York, NY 10004
                  Attention:  Commercial Mortgage Surveillance

            If to S&P, to:

                  Standard & Poor's Ratings Services
                  55 Water Street
                  New York, NY 10041
                  Fax: (212) 438-2662
                  Attention:  Commercial Mortgage Surveillance Manager

or at such address as shall be provided in writing to the Depositor by such
Rating Agency.

            (c) The Trustee, or in the case of clauses (i) and (ii), the
successor trustee shall give prompt notice to the Rating Agencies of the
occurrence of any of the following events:

            (i) the resignation or removal of the Trustee pursuant to Section
      7.6; or

            (ii) the appointment of a successor trustee pursuant to Section 7.7;
      or

            (iii) the appointment of a successor Operating Adviser pursuant to
      Section 9.37.

            (d) The Master Servicer shall deliver to the Rating Agencies and the
Depositor any other information as reasonably requested by the Rating Agencies
and the Depositor, and shall deliver to the Primary Servicers and the Special
Servicer each of the reports required to be delivered by the Master Servicer to
the Primary Servicers and the Special Servicer pursuant to the terms of this
Agreement. The Trustee, the Paying Agent and the Special Servicer shall deliver
to the Rating Agencies and the Depositor any information as reasonably requested
by the Rating Agencies and Depositor, as the case may be.

            (e) Any notice or other document required to be delivered or mailed
by the Depositor, Master Servicer, Paying Agent or Trustee shall be given by
such parties, respectively, on a best efforts basis and only as a matter of
courtesy and accommodation to the Rating Agencies, unless otherwise specifically
required herein, and such parties, respectively, shall have no liability for
failure to deliver any such notice or document to the Rating Agencies.

            Section 13.11 Counterparts. This Agreement may be executed in one or
more counterparts, each of which shall be deemed to be an original, and all of
which together shall constitute one and the same instrument.

            Section 13.12 Intention of Parties. It is the express intent of the
parties hereto that the conveyance of the Mortgage Loans and related rights and
property to the Trustee, for the benefit of the Certificateholders, by the
Depositor as provided in Section 2.1 be, and be construed as, an absolute sale
of the Mortgage Loans and related property. It is, further, not the intention of
the parties that such conveyance be deemed a pledge of the Mortgage Loans and
related property by the Depositor to the Trustee to secure a debt or other
obligation of the Depositor. However, in the event that, notwithstanding the
intent of the parties, the Mortgage Loans or any related property is held to be
the property of the Depositor, or if for any other reason this Agreement is held
or deemed to create a security interest in the Mortgage Loans or any related
property, then this Agreement shall be deemed to be a security agreement; and
the conveyance provided for in Section 2.1 shall be deemed to be a grant by the
Depositor to the Trustee, for the benefit of the Certificateholders, of a
security interest in all of the Depositor's right, title, and interest, whether
now owned or hereafter acquired, in and to:

            (i) All accounts, general intangibles, chattel paper, instruments,
      documents, money, deposit accounts, certificates of deposit, goods,
      letters of credit, advices of credit and investment property consisting
      of, arising from or relating to any of the property described in clauses
      (1)-(4) below: (1) the Mortgage Loans (including the related Mortgage
      Notes, Mortgages, security agreements, and title, hazard and other
      insurance policies) identified on the Mortgage Loan Schedule, including
      all Qualified Substitute Mortgage Loans, all distributions with respect
      thereto payable on and after the Cut-Off Date, and the Mortgage Files; (2)
      the Distribution Account, all REO Accounts, and the Certificate Account,
      including all property therein and all income from the investment of funds
      therein (including any accrued discount realized on liquidation of any
      investment purchased at a discount); (3) the REMIC I Regular Interests and
      the REMIC II Regular Interests; and (4) the Mortgage Loan Purchase
      Agreements;

            (ii) All accounts, general intangibles, chattel paper, instruments,
      documents, money, deposit accounts, certificates of deposit, goods,
      letters of credit, advices of credit, investment property, and other
      rights arising from or by virtue of the disposition of, or collections
      with respect to, or insurance proceeds payable with respect to, or claims
      against other Persons with respect to, all or any part of the collateral
      described in clause (A) above (including any accrued discount realized on
      liquidation of any investment purchased at a discount); and

            (iii) All cash and non-cash proceeds of the collateral described in
      clauses (i) and (ii) above.

            The possession by the Trustee of the Mortgage Notes, the Mortgages
and such other goods, letters of credit, advices of credit, instruments, money,
documents, chattel paper or certificated securities shall be deemed to be
possession by the secured party or possession by a purchaser for purposes of
perfecting the security interest pursuant to the Uniform Commercial Code
(including, without limitation, Sections 9-115 and 9-305 thereof) as in force in
the relevant jurisdiction.

            Notifications to Persons holding such property, and acknowledgments,
receipts or confirmations from Persons holding such property, shall be deemed to
be notifications to, or acknowledgments, receipts or confirmations from,
securities intermediaries, bailees or agents of, or persons holding for, the
Trustee, as applicable, for the purpose of perfecting such security interest
under applicable law.

            The Depositor and, at the Depositor's direction, the Master Servicer
and the Trustee, shall, to the extent consistent with this Agreement, take such
reasonable actions as may be necessary to ensure that, if this Agreement were
deemed to create a security interest in the property described above, such
security interest would be deemed to be a perfected security interest of first
priority under applicable law and will be maintained as such throughout the term
of the Agreement. The Master Servicer shall file, at the expense of the Trust as
an Additional Trust Expense all filings necessary to maintain the effectiveness
of any original filings necessary under the Uniform Commercial Code as in effect
in any jurisdiction to perfect the Trustee's security interest in such property,
including without limitation (i) continuation statements, and (ii) such other
statements as may be occasioned by any transfer of any interest of the Master
Servicer or the Depositor in such property. In connection herewith, the Trustee
shall have all of the rights and remedies of a secured party and creditor under
the Uniform Commercial Code as in force in the relevant jurisdiction.

            Section 13.13 Recordation of Agreement. This Agreement is subject to
recordation in all appropriate public offices for real property records in all
the counties or other comparable jurisdictions in which any or all of the
properties subject to the Mortgages are situated, and in any other appropriate
public recording office or elsewhere. Such recordation, if any, shall be
effected by the Master Servicer at the expense of the Trust as an Additional
Trust Expense, but only upon direction of the Depositor accompanied by an
Opinion of Counsel to the effect that such recordation materially and
beneficially affects the interests of the Certificateholders of the Trust.

            Section 13.14 Rating Agency Monitoring Fees. The parties hereto
acknowledge that on the Closing Date the Sellers will pay the ongoing monitoring
fees of the Rating Agencies relating to the rating of the Certificates and that
no monitoring fees are payable subsequent to the Closing Date in respect of the
rating of the Certificates. The Master Servicer shall not be required to pay any
such fees or any fees charged for any Rating Agency Confirmation (except any
confirmation required under Section 8.22, Section 8.23 or in connection with a
termination and replacement of the Master Servicer following an Event of Default
of the Master Servicer).

            Section 13.15 Acknowledgement by Primary Servicer. Each Primary
Servicer agrees, to the extent applicable to such Primary Servicer and the
Mortgage Loans serviced by such Primary Servicer, to be bound by the terms of
Sections 4.1, 5.1(g), 8.1(c), 8.3, 8.4, 8.7, 8.10, 8.18, 8.25(c) and 8.25(d) of
this Agreement.

<PAGE>

            IN WITNESS WHEREOF, the Depositor, the Master Servicer, the Special
Servicer, the Trustee, the Paying Agent, the Certificate Registrar, the
Authenticating Agent and the Fiscal Agent have caused their names to be signed
hereto by their respective officers thereunto duly authorized as of the day and
year first above written.

                                        MORGAN STANLEY DEAN WITTER CAPITAL I
                                            INC., as Depositor

                                        By: /s/ Cecilia Tarrant
                                            ------------------------------------
                                            Name:  Cecilia Tarrant
                                            Title: Vice-President

                                        ORIX CAPITAL MARKETS, LLC, as Master
                                            Servicer

                                        By: /s/ Edgar L. Smith
                                            ------------------------------------
                                            Name:  Edgar L. Smith
                                            Title: Chief Operating Officer

                                        LEND LEASE ASSET MANAGEMENT, L.P., as
                                            Special Servicer

                                            By: Pearl Mortgage, Inc.,
                                                its General Partner

                                            By: /s/ Michael O'Hanlon
                                                --------------------------------
                                                Name:  Michael O'Hanlon
                                                Title: Vice President

                                        LASALLE BANK NATIONAL ASSOCIATION, as
                                           Trustee, Paying Agent and
                                           Certificate Registrar

                                        By: /s/ Alyssa C. Stahl
                                            ------------------------------------
                                            Name:  Alyssa C. Stahl
                                            Title: Vice President

                                        ABN AMRO BANK N.V., as Fiscal Agent

                                        By: /s/ Alyssa C. Stahl
                                            ------------------------------------
                                            Name:  Alyssa C. Stahl
                                            Title: Vice President

                                        By: /s/ Cynthia Reis
                                            ------------------------------------
                                            Name:  Cynthia Reis
                                            Title: First Vice President

                                        PRINCIPAL CAPITAL MANAGEMENT, LLC, a
                                           Delaware limited liability company,
                                           acting solely in its capacity as
                                           Primary Servicer with respect to the
                                           sections referred to in Section 13.15
                                           of the Agreement

                                        By: /s/ Karen A. Pearston
                                            ------------------------------------
                                            Name:  Karen A. Pearston
                                            Title: Counsel

                                        By: /s/ James C. Fifield
                                            ------------------------------------
                                            Name:  James C. Fifield
                                            Title: Counsel

                                        JOHN HANCOCK REAL ESTATE FINANCE,
                                           INC., acting solely in its capacity
                                           as Primary Servicer with respect to
                                           the sections referred to in
                                           Section 13.15 of the Agreement

                                        By: /s/ M.W. Sam Davis
                                            ------------------------------------
                                            Name:  M.W. Sam Davis
                                            Title: Exec. Vice President

<PAGE>

STATE OF NEW YORK       )
                        )  ss.:
COUNTY OF NEW YORK      )

            On this 27th day of June, 2002, before me, a notary public in and
for said State, personally appeared Cecilia Tarrant, personally known to me (or
proved to me on the basis of satisfactory evidence) to be the person who
executed the within instrument as Vice President on behalf of Morgan Stanley
Dean Witter Capital I Inc., and acknowledged to me that such corporation
executed the within instrument pursuant to its by-laws or a resolution of its
Board of Directors.

            IN WITNESS WHEREOF, I have hereunder set my hand and affixed my
official seal the day and year in this certificate first above written.

                                        /s/ Anna H. Glick
                                        ----------------------------------------
                                                      Notary Public

                                                      ANNA H. GLICK
                                            Notary Public, State of New York
                                                       No. 4919452
                                              Qualified in Rockland County
                                             Commission Expires January 2006

<PAGE>

STATE OF TEXAS          )
                        )  ss.:
COUNTY OF DALLAS        )

            On this 24th day of June, 2002, before me, a notary public in and
for said State, personally appeared Edgar L. Smith, personally known to me (or
proved to me on the basis of satisfactory evidence) to be the person who
executed the within instrument as Chief Operating Officer of ORIX Capital
Markets, LLC, and acknowledged to me that such corporation executed the within
instrument pursuant to its by-laws or a resolution of its Board of Directors.

            IN WITNESS WHEREOF, I have hereunder set my hand and affixed my
official seal the day and year in this certificate first above written.

-----------------------------------     /s/ Mary Allen
                MARY ALLEN              ----------------------------------------
[SEAL] Notary Public State of Texas                   Notary Public
            Commission Expires
              APRIL 13, 2006
-----------------------------------

<PAGE>

STATE OF TEXAS          )
                        )  ss.:
COUNTY OF DALLAS        )

On this 26 day of June, 2002, before me, a notary public in and for said State,
personally appeared Michael O'Hanlon, personally known to me (or proved to me on
the basis of satisfactory evidence) to be the person who executed the within
instrument as Vice President of Pearl Mortgage, Inc. the sole general partner of
Lend Lease Asset Management, L.P., and acknowledged to me that such corporation
executed the within instrument pursuant to its by-laws or a resolution of its
Board of Directors.

IN WITNESS WHEREOF, I have hereunder set my hand and affixed my official seal
the day and year in this certificate first above written.

-------------------------------------
               MARY F. MILLER           /s/ Mary F. Miller
[SEAL] Notary Public, State of Texas    ----------------------------------------
       My Commission Expires 02-04-05                 Notary Public
-------------------------------------

<PAGE>

State of Illinois       )
                        )  ss.:
County of Cook          )

            On the 27th day of June, 2002, before me, Kathryn Hawkinson, a
notary public in and for said State, personally appeared Alyssa C. Stahl, known
to me to be a Vice President of LaSalle Bank NA, one of the corporations that
executed the within instrument, and also known to me to be the person who
executed it on behalf of said corporation, and acknowledged to me that such
corporation executed the within instrument.

            IN WITNESS WHEREOF, I have hereunto set my hand and affixed my
official seal the day and year in this certificate first above written.

                                        /s/ Kathryn Hawkinson
                                        ----------------------------------------
                                        Kathryn Hawkinson
                                        My Commission Expires: 12/11/04

                -------------------------------
[Notarial Seal]         "OFFICIAL SEAL"
                       KATHRYN HAWKINSON
                NOTARY PUBLIC STATE OF ILLINOIS
                My Commission Expires 12/11/04
                -------------------------------

<PAGE>

STATE OF ILLINOIS       )
                        )  ss.:
COUNTY OF COOK          )

            On the 27th day of June, 2002, before me, Kathryn Hawkinson, a
notary public in and for said State, personally appeared Alyssa C. Stahl, Vice
President, and Cynthia Reis, First Vice President, respectively, of ABN AMRO
BANK N.V., one of the entities that executed the within instrument and also
known to me to be the persons who executed it on behalf of such entity, and
acknowledged to me that such entity executed the within instrument.

            IN WITNESS WHEREOF, I have hereunto set my hand and affixed my
official seal the day and year in this certificate first above written.

                                        /s/ Kathryn Hawkinson
                                        ----------------------------------------

                                                     NOTARY PUBLIC

                       -------------------------------
My Commission Expires:         "OFFICIAL SEAL"
                              KATHRYN HAWKINSON
                       NOTARY PUBLIC STATE OF ILLINOIS
                       My Commission Expires 12/11/04
                       -------------------------------

<PAGE>

STATE OF IOWA           )
                        )  ss.:
COUNTY OF POLK          )

            On the 27th day of June, 2002, before me, a notary public in and for
said State, personally appeared Karen A. Pearston, Counsel and James Fifield,
Counsel, respectively, of Principal Capital Management, LLC, one of the entities
that executed the within instrument, and acknowledged to me that such entity
executed the within instrument.

            IN WITNESS WHEREOF, I have hereunto set my hand and affixed my
official seal the day and year in this certificate first above written.

                                        /s/ Barbara M. Seamands
                                        ----------------------------------------
                                                     Notary Public

                                           -----------------------------------
                                                       BARBARA M. SEAMANDS
                                           [SEAL]   Commission Number 157881
                                                  My Comm. Exp. Sept. 27, 2002
                                           -----------------------------------

<PAGE>

STATE OF MASSACHUSETTS  )
                        )  ss.:
COUNTY OF SUFFOLK       )

            On this 25th day of June, 2002, before me, a notary public in and
for said State, personally appeared M.W. Sam Davis, personally known to me (or
proved to me on the basis of satisfactory evidence) to be the person who
executed the within instrument as Exec. Vice President of John Hancock Real
Estate Finance, Inc., and acknowledged to me that such corporation executed the
within instrument pursuant to its by-laws or a resolution of its Board of
Directors.

            IN WITNESS WHEREOF, I have hereunder set my hand and affixed my
official seal the day and year in this certificate first above written.

-----------------------------
     JENNIFER L. TANSEY
        Notary Public                   /s/ Jennifer L. Tansey
Commonwealth of Massachusetts           ----------------------------------------
    My Commission Expires                            Notary Public
        July 26, 2007
-----------------------------

<PAGE>
                                  EXHIBIT A-1

                         [FORM OF CLASS A-1 CERTIFICATE]

THIS CLASS A-1 CERTIFICATE DOES NOT CONSTITUTE AN OBLIGATION OF OR AN INTEREST
IN THE SELLERS, THE DEPOSITOR, THE UNDERWRITERS, THE TRUSTEE, THE FISCAL AGENT,
THE CERTIFICATE REGISTRAR, THE PAYING AGENT, THE MASTER SERVICER, THE SPECIAL
SERVICER, THE PRIMARY SERVICERS OR ANY OF THEIR RESPECTIVE AFFILIATES, AND WILL
NOT BE INSURED OR GUARANTEED BY ANY SUCH ENTITY OR BY ANY GOVERNMENTAL AGENCY.

THE INITIAL CERTIFICATE BALANCE HEREOF IS AS SET FORTH HEREIN, REDUCED OR
INCREASED AS SET FORTH ON THE SCHEDULE OF EXCHANGES ATTACHED HERETO.

IF THE TRANSFEREE OF THIS CERTIFICATE IS AN EMPLOYEE BENEFIT PLAN SUBJECT TO THE
FIDUCIARY RESPONSIBILITY PROVISIONS OF THE EMPLOYEE RETIREMENT INCOME SECURITY
ACT OF 1974, AS AMENDED, OR SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986,
AS AMENDED, OR ANY PERSON ACTING ON BEHALF OF ANY SUCH PLAN OR USING THE ASSETS
OF SUCH PLAN TO ACQUIRE OR HOLD THIS CERTIFICATE, SUCH PLAN OR SUCH PERSON MUST
BE AN ACCREDITED INVESTOR.

THE PORTION OF THE CERTIFICATE BALANCE OF THE CERTIFICATES EVIDENCED BY THIS
CERTIFICATE WILL BE DECREASED BY THE PORTION OF PRINCIPAL DISTRIBUTIONS,
REALIZED LOSSES AND CERTAIN EXPENSE LOSSES ON THE CERTIFICATES ALLOCABLE TO THIS
CLASS A-1 CERTIFICATE. ACCORDINGLY, THE CERTIFICATE BALANCE OF THIS CERTIFICATE
MAY BE LESS THAN THAT SET FORTH BELOW. ANYONE ACQUIRING THIS CERTIFICATE MAY
ASCERTAIN ITS CURRENT CERTIFICATE BALANCE BY INQUIRY OF THE PAYING AGENT.

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO THE CERTIFICATE
REGISTRAR OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND
ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER
NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
HEREON IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED
OWNER HEREOF, CEDE & CO. HAS AN INTEREST HEREIN.

THIS CERTIFICATE REPRESENTS A "REGULAR INTEREST" IN A "REAL ESTATE MORTGAGE
INVESTMENT CONDUIT," AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G
AND 860d OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE").

                    MORGAN STANLEY DEAN WITTER CAPITAL I INC.
                 COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES,
                                 SERIES 2002-IQ2

INITIAL PASS-THROUGH RATE:  4.09%         MASTER SERVICER:  ORIX CAPITAL
                                          MARKETS, LLC

DATE OF POOLING AND SERVICING             SPECIAL SERVICER:  LEND LEASE ASSET
AGREEMENT:  AS OF JUNE 1, 2002            MANAGEMENT, L.P.

CUT-OFF DATE:  JUNE 1, 2002               PAYING AGENT: LASALLE BANK NATIONAL
                                          ASSOCIATION

CLOSING DATE:  JUNE 27, 2002

FIRST DISTRIBUTION DATE:  JULY 15, 2002   TRUSTEE:  LASALLE BANK NATIONAL
                                          ASSOCIATION

AGGREGATE CERTIFICATE BALANCE OF THE      FISCAL AGENT: ABN AMRO BANK N.V.
CLASS A-1 CERTIFICATES AS OF THE
CLOSING DATE: $118,000,000

CERTIFICATE BALANCE OF THIS CLASS A-1     CUSIP NO. [__________]
CERTIFICATE AS OF THE CLOSING DATE:
$[__________] (SUBJECT TO SCHEDULE OF
EXCHANGES ATTACHED)

No. A-1-1

                              CLASS A-1 CERTIFICATE

evidencing a beneficial ownership interest in a Trust, consisting primarily of a
pool of commercial and multifamily mortgage loans (the "Mortgage Loans") and
certain other property, formed and sold by

                    MORGAN STANLEY DEAN WITTER CAPITAL I INC.

            THIS CERTIFIES THAT CEDE & CO. is the registered owner of the
interest evidenced by this Certificate in the Class A-1 Certificates issued by
the Trust created pursuant to the Pooling and Servicing Agreement, dated as
specified above (the "Pooling and Servicing Agreement"), among Morgan Stanley
Dean Witter Capital I Inc. (hereinafter called the "Depositor", which term
includes any successor entity under the Pooling and Servicing Agreement), the
Trustee, the Fiscal Agent, the Paying Agent, the Certificate Registrar, the
Master Servicer and the Special Servicer, a summary of certain of the pertinent
provisions of which is set forth hereafter. The Trust consists primarily of the
Mortgage Loans, such amounts as shall from time to time be held in the
Certificate Account and Distribution Account, the Insurance Policies and any REO
Properties. To the extent not defined herein, the capitalized terms used herein
have the meanings assigned in the Pooling and Servicing Agreement.

            This Certificate is one of a duly authorized issue of Certificates
designated as Certificates of the series specified on the face hereof (herein
called the "Certificates") and representing an interest in the Class of
Certificates specified on the face hereof equal to the quotient expressed as a
percentage obtained by dividing the Certificate Balance of this Certificate
specified on the face hereof by the aggregate initial Certificate Balance of the
Class A-1 Certificates. The Certificates are designated as the Morgan Stanley
Dean Witter Capital I Inc., Commercial Mortgage Pass-Through Certificates,
Series 2002-IQ2 and are issued in the Classes specified in the Pooling and
Servicing Agreement. The Certificates will evidence in the aggregate 100% of the
beneficial ownership of the Trust.

            This Certificate does not purport to summarize the Pooling and
Servicing Agreement and reference is made to that Agreement for information with
respect to the interests, rights, benefits, obligations, proceeds, and duties
evidenced hereby and the rights, duties and obligations of the Trustee and the
Paying Agent. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Pooling and Servicing Agreement, to which
Pooling and Servicing Agreement, as amended from time to time, the
Certificateholder by virtue of the acceptance hereof assents and by which the
Certificateholder is bound. In the case of any conflict between terms specified
in this Certificate and terms specified in the Pooling and Servicing Agreement,
the terms of the Pooling and Servicing Agreement shall govern.

            Distributions of principal of and interest on this Certificate will
be made out of the Available Distribution Amount, to the extent and subject to
the limitations set forth in the Pooling and Servicing Agreement, on the 15th
day of each month or, if such 15th day is not a Business Day, the next
succeeding Business Day (a "Distribution Date") commencing on the first
Distribution Date specified above, to the Person in whose name this Certificate
is registered at the close of business on the last Business Day of the month
immediately preceding the month of such distribution (the "Record Date"). All
sums distributable on this Certificate are payable in the coin or currency of
the United States of America as at the time of payment is legal tender for the
payment of public and private debts.

            Interest on this Certificate will accrue (computed as if each year
consisted of 360 days and each month consisted of 30 days) during the Interest
Accrual Period relating to such Distribution Date at the Pass-Through Rate on
the Certificate Balance of this Certificate immediately prior to each
Distribution Date. Principal and interest allocated to this Certificate on any
Distribution Date will be in an amount due to this Certificate's pro rata share
of the amount to be distributed on the Certificates of this Class as of such
Distribution Date, with a final distribution to be made upon retirement of this
Certificate as set forth in the Pooling and Servicing Agreement.

            Unless the certificate of authentication hereon has been executed by
the Authenticating Agent, by manual signature, this Certificate shall not be
entitled to any benefit under the Pooling and Servicing Agreement or be valid
for any purpose.

            Realized Losses, Expense Losses and interest shortfalls on the
Mortgage Loans shall be allocated on the applicable Distribution Date to
Certificateholders in the manner set forth in the Pooling and Servicing
Agreement. All Realized Losses, Expense Losses and interest shortfalls on the
Mortgage Loans allocated to any Class of Certificates will be allocated pro rata
among the outstanding Certificates of such Class.

            The Certificates are limited in right of payment to certain
collections and recoveries respecting the Mortgage Loans, all as more
specifically set forth in the Pooling and Servicing Agreement. As provided in
the Pooling and Servicing Agreement, withdrawals from the Certificate Account
shall be made from time to time for purposes other than distributions to
Certificateholders, such purposes including reimbursement of certain expenses
incurred with respect to the servicing of the Mortgage Loans and administration
of the Trust.

            All distributions under the Pooling and Servicing Agreement to a
nominee of The Depository Trust Company ("DTC") will be made by or on behalf of
the Paying Agent by wire transfer in immediately available funds to an account
specified in the request of such Certificateholder. All distributions under the
Pooling and Servicing Agreement to Certificateholders will be made by wire
transfer in immediately available funds to the account specified by the
Certificateholder, at a bank or other entity having appropriate facilities
therefor, if such Certificateholder will have provided the Paying Agent with
wiring instructions on or prior to the related Record Date or otherwise by check
mailed to such Certificateholder. Notwithstanding the above, the final
distribution on any Certificate will be made only upon presentation and
surrender of such Certificate at the location that will be specified in a notice
of the pendency of such final distribution.

            The Pooling and Servicing Agreement permits, with certain exceptions
therein provided, the amendment thereof and the modification of the rights and
obligations of the Certificateholders under the Pooling and Servicing Agreement
at any time by the parties thereto with the consent of the Holders of not less
than 51% of the Aggregate Certificate Balance of the Certificates then
outstanding, as specified in the Pooling and Servicing Agreement. Any such
consent by the Holder of this Certificate shall be conclusive and binding on
such Holder and upon all future Holders of this Certificate and of any
Certificate issued upon the transfer hereof or in exchange herefor or in lieu
hereof whether or not notation of such consent is made upon the Certificate. The
Pooling and Servicing Agreement also permits the amendment thereof, in certain
circumstances, without the consent of the Holders of any of the Certificates.

            As provided in the Pooling and Servicing Agreement and subject to
certain limitations therein set forth, the transfer of this Certificate is
registrable in the Certificate Register upon surrender of this Certificate for
registration of transfer at the Corporate Trust Office of the Certificate
Registrar, duly endorsed by, or accompanied by an assignment in the form below
or other written instrument of transfer in form satisfactory to the Certificate
Registrar duly executed by the Holder hereof or such Holder's attorney duly
authorized in writing, and thereupon one or more new Certificates of the same
Class in authorized denominations will be issued to the designated transferee or
transferees.

            Subject to the terms of the Pooling and Servicing Agreement, the
Certificates are issuable in fully registered form only, without coupons, in
minimum denominations specified in the Pooling and Servicing Agreement.

            As provided in the Pooling and Servicing Agreement and subject to
certain limitations therein set forth, Certificates are exchangeable for new
Certificates of the same Class in authorized denominations as requested by the
Holder surrendering the same. No service charge will be made for any such
registration of transfer or exchange but the Certificate Registrar may require
payment of a sum sufficient to cover any tax or other governmental charge that
may be imposed in connection with any transfer or exchange of Certificates.

            Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book entry facilities of DTC.

            The Depositor, the Trustee, the Fiscal Agent, the Paying Agent, the
Master Servicer, the Special Servicer and the Certificate Registrar and any of
their agents may treat the Person in whose name this Certificate is registered
as the owner hereof for all purposes, and neither the Depositor, the Trustee,
the Fiscal Agent, the Paying Agent, the Master Servicer, the Special Servicer,
the Certificate Registrar nor any such agents shall be affected by notice to the
contrary.

            The obligations and responsibilities of the Trustee and the Paying
Agent created hereby (other than the obligation of the Paying Agent to make
payments to the Certificateholders as set forth in Section 10.2 of the Pooling
and Servicing Agreement and other than the obligations in the nature of
information or tax reporting) shall terminate on the earliest of (i) the later
of (A) the final payment or other liquidation of the last Mortgage Loan
remaining in the Trust and (B) the disposition of all REO Property or (ii) the
sale of the property held by the Trust in accordance with Section 10.1(b) of the
Pooling and Servicing Agreement or (iii) the termination of the Trust pursuant
to Section 10.1(c) of the Pooling and Servicing Agreement; provided that in no
event shall the Trust continue beyond the expiration of 21 years from the death
of the last survivor of the descendants of Joseph P. Kennedy, the late
Ambassador of the United States to the Court of St. James, living on the date
hereof. The parties designated in the Pooling and Servicing Agreement may
exercise their option to purchase the Mortgage Loans and any other property
remaining in the Trust and cause the termination of the Trust in accordance with
the requirements set forth in the Pooling and Servicing Agreement. Upon
termination of the Trust and payment of the Certificates and of all
administrative expenses associated with the Trust, any remaining assets of the
Trust shall be distributed to the holders of the Residual Certificates.

            The Certificate Registrar has executed this Certificate under the
Pooling and Servicing Agreement.

            THIS CERTIFICATE AND THE POOLING AND SERVICING AGREEMENT SHALL BE
CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK
WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

<PAGE>

            IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed under this official seal.

                                        LASALLE BANK NATIONAL
                                           ASSOCIATION, as Certificate Registrar

                                        By:_____________________________________
                                                   AUTHORIZED SIGNATORY

Dated: June 27, 2002

                          CERTIFICATE OF AUTHENTICATION

            THIS IS ONE OF THE CLASS A-1 CERTIFICATES REFERRED TO IN THE
WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

                                        LASALLE BANK NATIONAL
                                           ASSOCIATION,
                                           AUTHENTICATING AGENT

                                        By:_____________________________________
                                                   AUTHORIZED SIGNATORY

<PAGE>

                                  ABBREVIATIONS

The following abbreviations, when used in the inscription on the face of this
Certificate, shall be construed as though they were written out in full
according to applicable laws or regulations:

TEN COM - as tenant in common            UNIF GIFT MIN ACT.............Custodian
                                                             (Cust)
TEN ENT - as tenants by the entireties
                                              Under Uniform Gifts to Minors
JT TEN  - as joint tenants with
          rights of survivorship and
          not as tenants in common                Act..................
                                                         (State)

    Additional abbreviations may also be used though not in the above list.

                                FORM OF TRANSFER

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto

________________________________________________________________________________

____________________________________            PLEASE INSERT SOCIAL SECURITY OR
                                                OTHER IDENTIFYING NUMBER OF
____________________________________            ASSIGNEE

________________________________________________________________________________
             Please print or typewrite name and address of assignee

________________________________________________________________________________
the within Certificate and does hereby or irrevocably constitute and appoint

________________________________________________________________________________
to transfer the said Certificate in the Certificate Register of the within-named
Trust, with full power of substitution in the premises.

Dated:_________________________     ____________________________________________
                                    NOTICE: The signature to this assignment
                                    must correspond with the name as written
                                    upon the face of this Certificate in every
                                    particular without alteration or enlargement
                                    or any change whatever.

________________________________________
SIGNATURE GUARANTEED
The signature must be guaranteed by a
commercial bank or trust company or by a
member firm of the New York Stock
Exchange or another national securities
exchange. Notarized or witnessed
signatures are not acceptable.

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

            The assignee should include the following for purposes of
distribution:

            Distributions shall be made, by wire transfer or otherwise, in
immediately available funds to _____________ for the account of ________________
account number ______________ or, if mailed by check, to ______________________.
Statements should be mailed to ____________________. This information is
provided by assignee named above, or ______________________, as its agent.

<PAGE>

                     [TO BE ATTACHED TO GLOBAL CERTIFICATES]

                  SCHEDULE OF EXCHANGES OF GLOBAL CERTIFICATES

The following exchanges of a part of this Global Certificate have been made:

<PAGE>

                                   EXHIBIT A-2

                         [FORM OF CLASS A-2 CERTIFICATE]

THIS CLASS A-2 CERTIFICATE DOES NOT CONSTITUTE AN OBLIGATION OF OR AN INTEREST
IN THE SELLERS, THE DEPOSITOR, THE UNDERWRITERS, THE TRUSTEE, THE FISCAL AGENT,
THE CERTIFICATE REGISTRAR, THE PAYING AGENT, THE MASTER SERVICER, THE SPECIAL
SERVICER, THE PRIMARY SERVICERS OR ANY OF THEIR RESPECTIVE AFFILIATES, AND WILL
NOT BE INSURED OR GUARANTEED BY ANY SUCH ENTITY OR BY ANY GOVERNMENTAL AGENCY.

THE INITIAL CERTIFICATE BALANCE HEREOF IS AS SET FORTH HEREIN, REDUCED OR
INCREASED AS SET FORTH ON THE SCHEDULE OF EXCHANGES ATTACHED HERETO.

IF THE TRANSFEREE OF THIS CERTIFICATE IS AN EMPLOYEE BENEFIT PLAN SUBJECT TO THE
FIDUCIARY RESPONSIBILITY PROVISIONS OF THE EMPLOYEE RETIREMENT INCOME SECURITY
ACT OF 1974, AS AMENDED, OR SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986,
AS AMENDED, OR ANY PERSON ACTING ON BEHALF OF ANY SUCH PLAN OR USING THE ASSETS
OF SUCH PLAN TO ACQUIRE OR HOLD THIS CERTIFICATE, SUCH PLAN OR SUCH PERSON MUST
BE AN ACCREDITED INVESTOR.

THE PORTION OF THE CERTIFICATE BALANCE OF THE CERTIFICATES EVIDENCED BY THIS
CERTIFICATE WILL BE DECREASED BY THE PORTION OF PRINCIPAL DISTRIBUTIONS,
REALIZED LOSSES AND CERTAIN EXPENSE LOSSES ON THE CERTIFICATES ALLOCABLE TO THIS
CLASS A-2 CERTIFICATE. ACCORDINGLY, THE CERTIFICATE BALANCE OF THIS CERTIFICATE
MAY BE LESS THAN THAT SET FORTH BELOW. ANYONE ACQUIRING THIS CERTIFICATE MAY
ASCERTAIN ITS CURRENT CERTIFICATE BALANCE BY INQUIRY OF THE PAYING AGENT.

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO THE CERTIFICATE
REGISTRAR OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND
ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER
NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
HEREON IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED
OWNER HEREOF, CEDE & CO. HAS AN INTEREST HEREIN.

THIS CERTIFICATE REPRESENTS A "REGULAR INTEREST" IN A "REAL ESTATE MORTGAGE
INVESTMENT CONDUIT," AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G
AND 860d OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE").

                    MORGAN STANLEY DEAN WITTER CAPITAL I INC.
                 COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES,
                                 SERIES 2002-IQ2

INITIAL PASS-THROUGH RATE:  5.16%         MASTER SERVICER:  ORIX CAPITAL
                                          MARKETS, LLC

DATE OF POOLING AND SERVICING             SPECIAL SERVICER:  LEND LEASE ASSET
AGREEMENT:  AS OF JUNE 1, 2002            MANAGEMENT, L.P.

CUT-OFF DATE:  JUNE 1, 2002               PAYING AGENT: LASALLE BANK NATIONAL
                                          ASSOCIATION

CLOSING DATE:  JUNE 27, 2002

FIRST DISTRIBUTION DATE:  JULY 15, 2002   TRUSTEE:  LASALLE BANK NATIONAL
                                          ASSOCIATION

AGGREGATE CERTIFICATE BALANCE OF THE      FISCAL AGENT: ABN AMRO BANK N.V.
CLASS A-2 CERTIFICATES AS OF THE
CLOSING DATE: $131,500,000

CERTIFICATE BALANCE OF THIS CLASS A-2     CUSIP NO. [__________]
CERTIFICATE AS OF THE CLOSING DATE:
$[__________] (SUBJECT TO SCHEDULE OF
EXCHANGES ATTACHED)

No. A-2-1

                              CLASS A-2 CERTIFICATE

evidencing a beneficial ownership interest in a Trust, consisting primarily of a
pool of commercial and multifamily mortgage loans (the "Mortgage Loans") and
certain other property, formed and sold by

                    MORGAN STANLEY DEAN WITTER CAPITAL I INC.

            THIS CERTIFIES THAT CEDE & CO. is the registered owner of the
interest evidenced by this Certificate in the Class A-2 Certificates issued by
the Trust created pursuant to the Pooling and Servicing Agreement, dated as
specified above (the "Pooling and Servicing Agreement"), among Morgan Stanley
Dean Witter Capital I Inc. (hereinafter called the "Depositor", which term
includes any successor entity under the Pooling and Servicing Agreement), the
Trustee, the Fiscal Agent, the Paying Agent, the Certificate Registrar, the
Master Servicer and the Special Servicer, a summary of certain of the pertinent
provisions of which is set forth hereafter. The Trust consists primarily of the
Mortgage Loans, such amounts as shall from time to time be held in the
Certificate Account and Distribution Account, the Insurance Policies and any REO
Properties. To the extent not defined herein, the capitalized terms used herein
have the meanings assigned in the Pooling and Servicing Agreement.

            This Certificate is one of a duly authorized issue of Certificates
designated as Certificates of the series specified on the face hereof (herein
called the "Certificates") and representing an interest in the Class of
Certificates specified on the face hereof equal to the quotient expressed as a
percentage obtained by dividing the Certificate Balance of this Certificate
specified on the face hereof by the aggregate initial Certificate Balance of the
Class A-2 Certificates. The Certificates are designated as the Morgan Stanley
Dean Witter Capital I Inc., Commercial Mortgage Pass-Through Certificates,
Series 2002-IQ2 and are issued in the Classes specified in the Pooling and
Servicing Agreement. The Certificates will evidence in the aggregate 100% of the
beneficial ownership of the Trust.

            This Certificate does not purport to summarize the Pooling and
Servicing Agreement and reference is made to that Agreement for information with
respect to the interests, rights, benefits, obligations, proceeds, and duties
evidenced hereby and the rights, duties and obligations of the Trustee and the
Paying Agent. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Pooling and Servicing Agreement, to which
Pooling and Servicing Agreement, as amended from time to time, the
Certificateholder by virtue of the acceptance hereof assents and by which the
Certificateholder is bound. In the case of any conflict between terms specified
in this Certificate and terms specified in the Pooling and Servicing Agreement,
the terms of the Pooling and Servicing Agreement shall govern.

            Distributions of principal of and interest on this Certificate will
be made out of the Available Distribution Amount, to the extent and subject to
the limitations set forth in the Pooling and Servicing Agreement, on the 15th
day of each month or, if such 15th day is not a Business Day, the next
succeeding Business Day (a "Distribution Date") commencing on the first
Distribution Date specified above, to the Person in whose name this Certificate
is registered at the close of business on the last Business Day of the month
immediately preceding the month of such distribution (the "Record Date"). All
sums distributable on this Certificate are payable in the coin or currency of
the United States of America as at the time of payment is legal tender for the
payment of public and private debts.

            Interest on this Certificate will accrue (computed as if each year
consisted of 360 days and each month consisted of 30 days) during the Interest
Accrual Period relating to such Distribution Date at the Pass-Through Rate on
the Certificate Balance of this Certificate immediately prior to each
Distribution Date. Principal and interest allocated to this Certificate on any
Distribution Date will be in an amount due to this Certificate's pro rata share
of the amount to be distributed on the Certificates of this Class as of such
Distribution Date, with a final distribution to be made upon retirement of this
Certificate as set forth in the Pooling and Servicing Agreement.

            Unless the certificate of authentication hereon has been executed by
the Authenticating Agent, by manual signature, this Certificate shall not be
entitled to any benefit under the Pooling and Servicing Agreement or be valid
for any purpose.

            Realized Losses, Expense Losses and interest shortfalls on the
Mortgage Loans shall be allocated on the applicable Distribution Date to
Certificateholders in the manner set forth in the Pooling and Servicing
Agreement. All Realized Losses, Expense Losses and interest shortfalls on the
Mortgage Loans allocated to any Class of Certificates will be allocated pro rata
among the outstanding Certificates of such Class.

            The Certificates are limited in right of payment to certain
collections and recoveries respecting the Mortgage Loans, all as more
specifically set forth in the Pooling and Servicing Agreement. As provided in
the Pooling and Servicing Agreement, withdrawals from the Certificate Account
shall be made from time to time for purposes other than distributions to
Certificateholders, such purposes including reimbursement of certain expenses
incurred with respect to the servicing of the Mortgage Loans and administration
of the Trust.

            All distributions under the Pooling and Servicing Agreement to a
nominee of The Depository Trust Company ("DTC") will be made by or on behalf of
the Paying Agent by wire transfer in immediately available funds to an account
specified in the request of such Certificateholder. All distributions under the
Pooling and Servicing Agreement to Certificateholders will be made by wire
transfer in immediately available funds to the account specified by the
Certificateholder, at a bank or other entity having appropriate facilities
therefor, if such Certificateholder will have provided the Paying Agent with
wiring instructions on or prior to the related Record Date or otherwise by check
mailed to such Certificateholder. Notwithstanding the above, the final
distribution on any Certificate will be made only upon presentation and
surrender of such Certificate at the location that will be specified in a notice
of the pendency of such final distribution.

            The Pooling and Servicing Agreement permits, with certain exceptions
therein provided, the amendment thereof and the modification of the rights and
obligations of the Certificateholders under the Pooling and Servicing Agreement
at any time by the parties thereto with the consent of the Holders of not less
than 51% of the Aggregate Certificate Balance of the Certificates then
outstanding, as specified in the Pooling and Servicing Agreement. Any such
consent by the Holder of this Certificate shall be conclusive and binding on
such Holder and upon all future Holders of this Certificate and of any
Certificate issued upon the transfer hereof or in exchange herefor or in lieu
hereof whether or not notation of such consent is made upon the Certificate. The
Pooling and Servicing Agreement also permits the amendment thereof, in certain
circumstances, without the consent of the Holders of any of the Certificates.

            As provided in the Pooling and Servicing Agreement and subject to
certain limitations therein set forth, the transfer of this Certificate is
registrable in the Certificate Register upon surrender of this Certificate for
registration of transfer at the Corporate Trust Office of the Certificate
Registrar, duly endorsed by, or accompanied by an assignment in the form below
or other written instrument of transfer in form satisfactory to the Certificate
Registrar duly executed by the Holder hereof or such Holder's attorney duly
authorized in writing, and thereupon one or more new Certificates of the same
Class in authorized denominations will be issued to the designated transferee or
transferees.

            Subject to the terms of the Pooling and Servicing Agreement, the
Certificates are issuable in fully registered form only, without coupons, in
minimum denominations specified in the Pooling and Servicing Agreement.

            As provided in the Pooling and Servicing Agreement and subject to
certain limitations therein set forth, Certificates are exchangeable for new
Certificates of the same Class in authorized denominations as requested by the
Holder surrendering the same. No service charge will be made for any such
registration of transfer or exchange but the Certificate Registrar may require
payment of a sum sufficient to cover any tax or other governmental charge that
may be imposed in connection with any transfer or exchange of Certificates.

            Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book entry facilities of DTC.

            The Depositor, the Trustee, the Fiscal Agent, the Paying Agent, the
Master Servicer, the Special Servicer and the Certificate Registrar and any of
their agents may treat the Person in whose name this Certificate is registered
as the owner hereof for all purposes, and neither the Depositor, the Trustee,
the Fiscal Agent, the Paying Agent, the Master Servicer, the Special Servicer,
the Certificate Registrar nor any such agents shall be affected by notice to the
contrary.

            The obligations and responsibilities of the Trustee and the Paying
Agent created hereby (other than the obligation of the Paying Agent to make
payments to the Certificateholders as set forth in Section 10.2 of the Pooling
and Servicing Agreement and other than the obligations in the nature of
information or tax reporting) shall terminate on the earliest of (i) the later
of (A) the final payment or other liquidation of the last Mortgage Loan
remaining in the Trust and (B) the disposition of all REO Property or (ii) the
sale of the property held by the Trust in accordance with Section 10.1(b) of the
Pooling and Servicing Agreement or (iii) the termination of the Trust pursuant
to Section 10.1(c) of the Pooling and Servicing Agreement; provided that in no
event shall the Trust continue beyond the expiration of 21 years from the death
of the last survivor of the descendants of Joseph P. Kennedy, the late
Ambassador of the United States to the Court of St. James, living on the date
hereof. The parties designated in the Pooling and Servicing Agreement may
exercise their option to purchase the Mortgage Loans and any other property
remaining in the Trust and cause the termination of the Trust in accordance with
the requirements set forth in the Pooling and Servicing Agreement. Upon
termination of the Trust and payment of the Certificates and of all
administrative expenses associated with the Trust, any remaining assets of the
Trust shall be distributed to the holders of the Residual Certificates.

            The Certificate Registrar has executed this Certificate under the
Pooling and Servicing Agreement.

            THIS CERTIFICATE AND THE POOLING AND SERVICING AGREEMENT SHALL BE
CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK
WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

<PAGE>

            IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed under this official seal.

                                        LASALLE BANK NATIONAL
                                           ASSOCIATION, as Certificate Registrar

                                        By:_____________________________________
                                                   AUTHORIZED SIGNATORY

Dated: June 27, 2002

                          CERTIFICATE OF AUTHENTICATION

            THIS IS ONE OF THE CLASS A-2 CERTIFICATES REFERRED TO IN THE
WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

                                        LASALLE BANK NATIONAL
                                           ASSOCIATION,
                                           AUTHENTICATING AGENT

                                        By:_____________________________________
                                                   AUTHORIZED SIGNATORY

<PAGE>

                                  ABBREVIATIONS

The following abbreviations, when used in the inscription on the face of this
Certificate, shall be construed as though they were written out in full
according to applicable laws or regulations:

TEN COM - as tenant in common            UNIF GIFT MIN ACT.............Custodian
                                                             (Cust)
TEN ENT - as tenants by the entireties
                                              Under Uniform Gifts to Minors
JT TEN  - as joint tenants with
          rights of survivorship and
          not as tenants in common                Act..................
                                                         (State)

     Additional abbreviations may also be used though not in the above list.

                                FORM OF TRANSFER

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto

________________________________________________________________________________

____________________________________            PLEASE INSERT SOCIAL SECURITY OR
                                                OTHER IDENTIFYING NUMBER OF
____________________________________            ASSIGNEE

________________________________________________________________________________
             Please print or typewrite name and address of assignee

________________________________________________________________________________
the within Certificate and does hereby or irrevocably constitute and appoint

________________________________________________________________________________
to transfer the said Certificate in the Certificate Register of the within-named
Trust, with full power of substitution in the premises.

Dated:_________________________     ____________________________________________
                                    NOTICE: The signature to this assignment
                                    must correspond with the name as written
                                    upon the face of this Certificate in every
                                    particular without alteration or enlargement
                                    or any change whatever.

________________________________________
SIGNATURE GUARANTEED
The signature must be guaranteed by a
commercial bank or trust company or by a
member firm of the New York Stock
Exchange or another national securities
exchange. Notarized or witnessed
signatures are not acceptable.

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

            The assignee should include the following for purposes of
distribution:

            Distributions shall be made, by wire transfer or otherwise, in
immediately available funds to _____________ for the account of ________________
account number ______________ or, if mailed by check, to ______________________.
Statements should be mailed to ____________________. This information is
provided by assignee named above, or ______________________, as its agent.

<PAGE>

                     [TO BE ATTACHED TO GLOBAL CERTIFICATES]

                  SCHEDULE OF EXCHANGES OF GLOBAL CERTIFICATES

The following exchanges of a part of this Global Certificate have been made:

<PAGE>

                                   EXHIBIT A-3

                         [FORM OF CLASS A-3 CERTIFICATE]

THIS CLASS A-3 CERTIFICATE DOES NOT CONSTITUTE AN OBLIGATION OF OR AN INTEREST
IN THE SELLERS, THE DEPOSITOR, THE UNDERWRITERS, THE TRUSTEE, THE FISCAL AGENT,
THE CERTIFICATE REGISTRAR, THE PAYING AGENT, THE MASTER SERVICER, THE SPECIAL
SERVICER, THE PRIMARY SERVICERS OR ANY OF THEIR RESPECTIVE AFFILIATES, AND WILL
NOT BE INSURED OR GUARANTEED BY ANY SUCH ENTITY OR BY ANY GOVERNMENTAL AGENCY.

THE INITIAL CERTIFICATE BALANCE HEREOF IS AS SET FORTH HEREIN, REDUCED OR
INCREASED AS SET FORTH ON THE SCHEDULE OF EXCHANGES ATTACHED HERETO.

IF THE TRANSFEREE OF THIS CERTIFICATE IS AN EMPLOYEE BENEFIT PLAN SUBJECT TO THE
FIDUCIARY RESPONSIBILITY PROVISIONS OF THE EMPLOYEE RETIREMENT INCOME SECURITY
ACT OF 1974, AS AMENDED, OR SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986,
AS AMENDED, OR ANY PERSON ACTING ON BEHALF OF ANY SUCH PLAN OR USING THE ASSETS
OF SUCH PLAN TO ACQUIRE OR HOLD THIS CERTIFICATE, SUCH PLAN OR SUCH PERSON MUST
BE AN ACCREDITED INVESTOR.

THE PORTION OF THE CERTIFICATE BALANCE OF THE CERTIFICATES EVIDENCED BY THIS
CERTIFICATE WILL BE DECREASED BY THE PORTION OF PRINCIPAL DISTRIBUTIONS,
REALIZED LOSSES AND CERTAIN EXPENSE LOSSES ON THE CERTIFICATES ALLOCABLE TO THIS
CLASS A-3 CERTIFICATE. ACCORDINGLY, THE CERTIFICATE BALANCE OF THIS CERTIFICATE
MAY BE LESS THAN THAT SET FORTH BELOW. ANYONE ACQUIRING THIS CERTIFICATE MAY
ASCERTAIN ITS CURRENT CERTIFICATE BALANCE BY INQUIRY OF THE PAYING AGENT.

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO THE CERTIFICATE
REGISTRAR OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND
ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER
NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
HEREON IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED
OWNER HEREOF, CEDE & CO. HAS AN INTEREST HEREIN.

THIS CERTIFICATE REPRESENTS A "REGULAR INTEREST" IN A "REAL ESTATE MORTGAGE
INVESTMENT CONDUIT," AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G
AND 860d OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE").

                    MORGAN STANLEY DEAN WITTER CAPITAL I INC.
                 COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES,
                                 SERIES 2002-IQ2

INITIAL PASS-THROUGH RATE:  5.52%         MASTER SERVICER:  ORIX CAPITAL
                                          MARKETS, LLC

DATE OF POOLING AND SERVICING             SPECIAL SERVICER:  LEND LEASE ASSET
AGREEMENT:  AS OF JUNE 1, 2002            MANAGEMENT, L.P.

CUT-OFF DATE:  JUNE 1, 2002               PAYING AGENT: LASALLE BANK NATIONAL
                                          ASSOCIATION

CLOSING DATE:  JUNE 27, 2002

FIRST DISTRIBUTION DATE:  JULY 15, 2002   TRUSTEE:  LASALLE BANK NATIONAL
                                          ASSOCIATION

AGGREGATE CERTIFICATE BALANCE OF THE      FISCAL AGENT: ABN AMRO BANK N.V.
CLASS A-3 CERTIFICATES AS OF THE
CLOSING DATE: $151,000,000

CERTIFICATE BALANCE OF THIS CLASS A-3     CUSIP NO. [__________]
CERTIFICATE AS OF THE CLOSING DATE:
$[__________] (SUBJECT TO SCHEDULE OF
EXCHANGES ATTACHED)

No. A-3-1

                              CLASS A-3 CERTIFICATE

evidencing a beneficial ownership interest in a Trust, consisting primarily of a
pool of commercial and multifamily mortgage loans (the "Mortgage Loans") and
certain other property, formed and sold by

                    MORGAN STANLEY DEAN WITTER CAPITAL I INC.

            THIS CERTIFIES THAT CEDE & CO. is the registered owner of the
interest evidenced by this Certificate in the Class A-3 Certificates issued by
the Trust created pursuant to the Pooling and Servicing Agreement, dated as
specified above (the "Pooling and Servicing Agreement"), among Morgan Stanley
Dean Witter Capital I Inc. (hereinafter called the "Depositor", which term
includes any successor entity under the Pooling and Servicing Agreement), the
Trustee, the Fiscal Agent, the Paying Agent, the Certificate Registrar, the
Master Servicer and the Special Servicer, a summary of certain of the pertinent
provisions of which is set forth hereafter. The Trust consists primarily of the
Mortgage Loans, such amounts as shall from time to time be held in the
Certificate Account and Distribution Account, the Insurance Policies and any REO
Properties. To the extent not defined herein, the capitalized terms used herein
have the meanings assigned in the Pooling and Servicing Agreement.

            This Certificate is one of a duly authorized issue of Certificates
designated as Certificates of the series specified on the face hereof (herein
called the "Certificates") and representing an interest in the Class of
Certificates specified on the face hereof equal to the quotient expressed as a
percentage obtained by dividing the Certificate Balance of this Certificate
specified on the face hereof by the aggregate initial Certificate Balance of the
Class A-3 Certificates. The Certificates are designated as the Morgan Stanley
Dean Witter Capital I Inc., Commercial Mortgage Pass-Through Certificates,
Series 2002-IQ2 and are issued in the Classes specified in the Pooling and
Servicing Agreement. The Certificates will evidence in the aggregate 100% of the
beneficial ownership of the Trust.

            This Certificate does not purport to summarize the Pooling and
Servicing Agreement and reference is made to that Agreement for information with
respect to the interests, rights, benefits, obligations, proceeds, and duties
evidenced hereby and the rights, duties and obligations of the Trustee and the
Paying Agent. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Pooling and Servicing Agreement, to which
Pooling and Servicing Agreement, as amended from time to time, the
Certificateholder by virtue of the acceptance hereof assents and by which the
Certificateholder is bound. In the case of any conflict between terms specified
in this Certificate and terms specified in the Pooling and Servicing Agreement,
the terms of the Pooling and Servicing Agreement shall govern.

            Distributions of principal of and interest on this Certificate will
be made out of the Available Distribution Amount, to the extent and subject to
the limitations set forth in the Pooling and Servicing Agreement, on the 15th
day of each month or, if such 15th day is not a Business Day, the next
succeeding Business Day (a "Distribution Date") commencing on the first
Distribution Date specified above, to the Person in whose name this Certificate
is registered at the close of business on the last Business Day of the month
immediately preceding the month of such distribution (the "Record Date"). All
sums distributable on this Certificate are payable in the coin or currency of
the United States of America as at the time of payment is legal tender for the
payment of public and private debts.

            Interest on this Certificate will accrue (computed as if each year
consisted of 360 days and each month consisted of 30 days) during the Interest
Accrual Period relating to such Distribution Date at the Pass-Through Rate on
the Certificate Balance of this Certificate immediately prior to each
Distribution Date. Principal and interest allocated to this Certificate on any
Distribution Date will be in an amount due to this Certificate's pro rata share
of the amount to be distributed on the Certificates of this Class as of such
Distribution Date, with a final distribution to be made upon retirement of this
Certificate as set forth in the Pooling and Servicing Agreement.

            Unless the certificate of authentication hereon has been executed by
the Authenticating Agent, by manual signature, this Certificate shall not be
entitled to any benefit under the Pooling and Servicing Agreement or be valid
for any purpose.

            Realized Losses, Expense Losses and interest shortfalls on the
Mortgage Loans shall be allocated on the applicable Distribution Date to
Certificateholders in the manner set forth in the Pooling and Servicing
Agreement. All Realized Losses, Expense Losses and interest shortfalls on the
Mortgage Loans allocated to any Class of Certificates will be allocated pro rata
among the outstanding Certificates of such Class.

            The Certificates are limited in right of payment to certain
collections and recoveries respecting the Mortgage Loans, all as more
specifically set forth in the Pooling and Servicing Agreement. As provided in
the Pooling and Servicing Agreement, withdrawals from the Certificate Account
shall be made from time to time for purposes other than distributions to
Certificateholders, such purposes including reimbursement of certain expenses
incurred with respect to the servicing of the Mortgage Loans and administration
of the Trust.

            All distributions under the Pooling and Servicing Agreement to a
nominee of The Depository Trust Company ("DTC") will be made by or on behalf of
the Paying Agent by wire transfer in immediately available funds to an account
specified in the request of such Certificateholder. All distributions under the
Pooling and Servicing Agreement to Certificateholders will be made by wire
transfer in immediately available funds to the account specified by the
Certificateholder, at a bank or other entity having appropriate facilities
therefor, if such Certificateholder will have provided the Paying Agent with
wiring instructions on or prior to the related Record Date or otherwise by check
mailed to such Certificateholder. Notwithstanding the above, the final
distribution on any Certificate will be made only upon presentation and
surrender of such Certificate at the location that will be specified in a notice
of the pendency of such final distribution.

            The Pooling and Servicing Agreement permits, with certain exceptions
therein provided, the amendment thereof and the modification of the rights and
obligations of the Certificateholders under the Pooling and Servicing Agreement
at any time by the parties thereto with the consent of the Holders of not less
than 51% of the Aggregate Certificate Balance of the Certificates then
outstanding, as specified in the Pooling and Servicing Agreement. Any such
consent by the Holder of this Certificate shall be conclusive and binding on
such Holder and upon all future Holders of this Certificate and of any
Certificate issued upon the transfer hereof or in exchange herefor or in lieu
hereof whether or not notation of such consent is made upon the Certificate. The
Pooling and Servicing Agreement also permits the amendment thereof, in certain
circumstances, without the consent of the Holders of any of the Certificates.

            As provided in the Pooling and Servicing Agreement and subject to
certain limitations therein set forth, the transfer of this Certificate is
registrable in the Certificate Register upon surrender of this Certificate for
registration of transfer at the Corporate Trust Office of the Certificate
Registrar, duly endorsed by, or accompanied by an assignment in the form below
or other written instrument of transfer in form satisfactory to the Certificate
Registrar duly executed by the Holder hereof or such Holder's attorney duly
authorized in writing, and thereupon one or more new Certificates of the same
Class in authorized denominations will be issued to the designated transferee or
transferees.

            Subject to the terms of the Pooling and Servicing Agreement, the
Certificates are issuable in fully registered form only, without coupons, in
minimum denominations specified in the Pooling and Servicing Agreement.

            As provided in the Pooling and Servicing Agreement and subject to
certain limitations therein set forth, Certificates are exchangeable for new
Certificates of the same Class in authorized denominations as requested by the
Holder surrendering the same. No service charge will be made for any such
registration of transfer or exchange but the Certificate Registrar may require
payment of a sum sufficient to cover any tax or other governmental charge that
may be imposed in connection with any transfer or exchange of Certificates.

            Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book entry facilities of DTC.

            The Depositor, the Trustee, the Fiscal Agent, the Paying Agent, the
Master Servicer, the Special Servicer and the Certificate Registrar and any of
their agents may treat the Person in whose name this Certificate is registered
as the owner hereof for all purposes, and neither the Depositor, the Trustee,
the Fiscal Agent, the Paying Agent, the Master Servicer, the Special Servicer,
the Certificate Registrar nor any such agents shall be affected by notice to the
contrary.

            The obligations and responsibilities of the Trustee and the Paying
Agent created hereby (other than the obligation of the Paying Agent to make
payments to the Certificateholders as set forth in Section 10.2 of the Pooling
and Servicing Agreement and other than the obligations in the nature of
information or tax reporting) shall terminate on the earliest of (i) the later
of (A) the final payment or other liquidation of the last Mortgage Loan
remaining in the Trust and (B) the disposition of all REO Property or (ii) the
sale of the property held by the Trust in accordance with Section 10.1(b) of the
Pooling and Servicing Agreement or (iii) the termination of the Trust pursuant
to Section 10.1(c) of the Pooling and Servicing Agreement; provided that in no
event shall the Trust continue beyond the expiration of 21 years from the death
of the last survivor of the descendants of Joseph P. Kennedy, the late
Ambassador of the United States to the Court of St. James, living on the date
hereof. The parties designated in the Pooling and Servicing Agreement may
exercise their option to purchase the Mortgage Loans and any other property
remaining in the Trust and cause the termination of the Trust in accordance with
the requirements set forth in the Pooling and Servicing Agreement. Upon
termination of the Trust and payment of the Certificates and of all
administrative expenses associated with the Trust, any remaining assets of the
Trust shall be distributed to the holders of the Residual Certificates.

            The Certificate Registrar has executed this Certificate under the
Pooling and Servicing Agreement.

            THIS CERTIFICATE AND THE POOLING AND SERVICING AGREEMENT SHALL BE
CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK
WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

<PAGE>

            IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed under this official seal.

                                        LASALLE BANK NATIONAL
                                           ASSOCIATION, as Certificate Registrar

                                        By:_____________________________________
                                                   AUTHORIZED SIGNATORY

Dated: June 27, 2002

                          CERTIFICATE OF AUTHENTICATION

            THIS IS ONE OF THE CLASS A-3 CERTIFICATES REFERRED TO IN THE
WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

                                        LASALLE BANK NATIONAL
                                           ASSOCIATION,
                                           AUTHENTICATING AGENT

                                        By:_____________________________________
                                                   AUTHORIZED SIGNATORY

<PAGE>

                                  ABBREVIATIONS

The following abbreviations, when used in the inscription on the face of this
Certificate, shall be construed as though they were written out in full
according to applicable laws or regulations:

TEN COM - as tenant in common            UNIF GIFT MIN ACT.............Custodian
                                                             (Cust)
TEN ENT - as tenants by the entireties
                                              Under Uniform Gifts to Minors
JT TEN  - as joint tenants with
          rights of survivorship and
          not as tenants in common                Act..................
                                                         (State)

     Additional abbreviations may also be used though not in the above list.

                                FORM OF TRANSFER

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto

________________________________________________________________________________

____________________________________            PLEASE INSERT SOCIAL SECURITY OR
                                                OTHER IDENTIFYING NUMBER OF
____________________________________            ASSIGNEE

________________________________________________________________________________
             Please print or typewrite name and address of assignee

________________________________________________________________________________
the within Certificate and does hereby or irrevocably constitute and appoint

________________________________________________________________________________
to transfer the said Certificate in the Certificate Register of the within-named
Trust, with full power of substitution in the premises.

Dated:_________________________     ____________________________________________
                                    NOTICE: The signature to this assignment
                                    must correspond with the name as written
                                    upon the face of this Certificate in every
                                    particular without alteration or enlargement
                                    or any change whatever.

________________________________________
SIGNATURE GUARANTEED
The signature must be guaranteed by a
commercial bank or trust company or by a
member firm of the New York Stock
Exchange or another national securities
exchange. Notarized or witnessed
signatures are not acceptable.

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

            The assignee should include the following for purposes of
distribution:

            Distributions shall be made, by wire transfer or otherwise, in
immediately available funds to _____________ for the account of ________________
account number ______________ or, if mailed by check, to ______________________.
Statements should be mailed to ____________________. This information is
provided by assignee named above, or ______________________, as its agent.

<PAGE>

                     [TO BE ATTACHED TO GLOBAL CERTIFICATES]

                  SCHEDULE OF EXCHANGES OF GLOBAL CERTIFICATES

The following exchanges of a part of this Global Certificate have been made:

<PAGE>

                                   EXHIBIT A-4

                         [FORM OF CLASS A-4 CERTIFICATE]

THIS CLASS A-4 CERTIFICATE DOES NOT CONSTITUTE AN OBLIGATION OF OR AN INTEREST
IN THE SELLERS, THE DEPOSITOR, THE UNDERWRITERS, THE TRUSTEE, THE FISCAL AGENT,
THE CERTIFICATE REGISTRAR, THE PAYING AGENT, THE MASTER SERVICER, THE SPECIAL
SERVICER, THE PRIMARY SERVICERS OR ANY OF THEIR RESPECTIVE AFFILIATES, AND WILL
NOT BE INSURED OR GUARANTEED BY ANY SUCH ENTITY OR BY ANY GOVERNMENTAL AGENCY.

THE INITIAL CERTIFICATE BALANCE HEREOF IS AS SET FORTH HEREIN, REDUCED OR
INCREASED AS SET FORTH ON THE SCHEDULE OF EXCHANGES ATTACHED HERETO.

IF THE TRANSFEREE OF THIS CERTIFICATE IS AN EMPLOYEE BENEFIT PLAN SUBJECT TO THE
FIDUCIARY RESPONSIBILITY PROVISIONS OF THE EMPLOYEE RETIREMENT INCOME SECURITY
ACT OF 1974, AS AMENDED, OR SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986,
AS AMENDED, OR ANY PERSON ACTING ON BEHALF OF ANY SUCH PLAN OR USING THE ASSETS
OF SUCH PLAN TO ACQUIRE OR HOLD THIS CERTIFICATE, SUCH PLAN OR SUCH PERSON MUST
BE AN ACCREDITED INVESTOR.

THE PORTION OF THE CERTIFICATE BALANCE OF THE CERTIFICATES EVIDENCED BY THIS
CERTIFICATE WILL BE DECREASED BY THE PORTION OF PRINCIPAL DISTRIBUTIONS,
REALIZED LOSSES AND CERTAIN EXPENSE LOSSES ON THE CERTIFICATES ALLOCABLE TO THIS
CLASS A-4 CERTIFICATE. ACCORDINGLY, THE CERTIFICATE BALANCE OF THIS CERTIFICATE
MAY BE LESS THAN THAT SET FORTH BELOW. ANYONE ACQUIRING THIS CERTIFICATE MAY
ASCERTAIN ITS CURRENT CERTIFICATE BALANCE BY INQUIRY OF THE PAYING AGENT.

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO THE CERTIFICATE
REGISTRAR OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND
ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER
NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
HEREON IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED
OWNER HEREOF, CEDE & CO. HAS AN INTEREST HEREIN.

THIS CERTIFICATE REPRESENTS A "REGULAR INTEREST" IN A "REAL ESTATE MORTGAGE
INVESTMENT CONDUIT," AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G
AND 860d OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE").

                    MORGAN STANLEY DEAN WITTER CAPITAL I INC.
                 COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES,
                                 SERIES 2002-IQ2

INITIAL PASS-THROUGH RATE:  5.74%         MASTER SERVICER:  ORIX CAPITAL
                                          MARKETS, LLC

DATE OF POOLING AND SERVICING             SPECIAL SERVICER:  LEND LEASE ASSET
AGREEMENT:  AS OF JUNE 1, 2002            MANAGEMENT, L.P.

CUT-OFF DATE:  JUNE 1, 2002               PAYING AGENT: LASALLE BANK NATIONAL
                                          ASSOCIATION

CLOSING DATE:  JUNE 27, 2002

FIRST DISTRIBUTION DATE:  JULY 15, 2002   TRUSTEE:  LASALLE BANK NATIONAL
                                          ASSOCIATION

AGGREGATE CERTIFICATE BALANCE OF THE      FISCAL AGENT: ABN AMRO BANK N.V.
CLASS A-4 CERTIFICATES AS OF THE
CLOSING DATE: $262,260,000

CERTIFICATE BALANCE OF THIS CLASS A-4     CUSIP NO. [__________]
CERTIFICATE AS OF THE CLOSING DATE:
$[__________] (SUBJECT TO SCHEDULE OF
EXCHANGES ATTACHED)

No. A-4-1

                              CLASS A-4 CERTIFICATE

evidencing a beneficial ownership interest in a Trust, consisting primarily of a
pool of commercial and multifamily mortgage loans (the "Mortgage Loans") and
certain other property, formed and sold by

                    MORGAN STANLEY DEAN WITTER CAPITAL I INC.

            THIS CERTIFIES THAT CEDE & CO. is the registered owner of the
interest evidenced by this Certificate in the Class A-4 Certificates issued by
the Trust created pursuant to the Pooling and Servicing Agreement, dated as
specified above (the "Pooling and Servicing Agreement"), among Morgan Stanley
Dean Witter Capital I Inc. (hereinafter called the "Depositor", which term
includes any successor entity under the Pooling and Servicing Agreement), the
Trustee, the Fiscal Agent, the Paying Agent, the Certificate Registrar, the
Master Servicer and the Special Servicer, a summary of certain of the pertinent
provisions of which is set forth hereafter. The Trust consists primarily of the
Mortgage Loans, such amounts as shall from time to time be held in the
Certificate Account and Distribution Account, the Insurance Policies and any REO
Properties. To the extent not defined herein, the capitalized terms used herein
have the meanings assigned in the Pooling and Servicing Agreement.

            This Certificate is one of a duly authorized issue of Certificates
designated as Certificates of the series specified on the face hereof (herein
called the "Certificates") and representing an interest in the Class of
Certificates specified on the face hereof equal to the quotient expressed as a
percentage obtained by dividing the Certificate Balance of this Certificate
specified on the face hereof by the aggregate initial Certificate Balance of the
Class A-4 Certificates. The Certificates are designated as the Morgan Stanley
Dean Witter Capital I Inc., Commercial Mortgage Pass-Through Certificates,
Series 2002-IQ2 and are issued in the Classes specified in the Pooling and
Servicing Agreement. The Certificates will evidence in the aggregate 100% of the
beneficial ownership of the Trust.

            This Certificate does not purport to summarize the Pooling and
Servicing Agreement and reference is made to that Agreement for information with
respect to the interests, rights, benefits, obligations, proceeds, and duties
evidenced hereby and the rights, duties and obligations of the Trustee and the
Paying Agent. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Pooling and Servicing Agreement, to which
Pooling and Servicing Agreement, as amended from time to time, the
Certificateholder by virtue of the acceptance hereof assents and by which the
Certificateholder is bound. In the case of any conflict between terms specified
in this Certificate and terms specified in the Pooling and Servicing Agreement,
the terms of the Pooling and Servicing Agreement shall govern.

            Distributions of principal of and interest on this Certificate will
be made out of the Available Distribution Amount, to the extent and subject to
the limitations set forth in the Pooling and Servicing Agreement, on the 15th
day of each month or, if such 15th day is not a Business Day, the next
succeeding Business Day (a "Distribution Date") commencing on the first
Distribution Date specified above, to the Person in whose name this Certificate
is registered at the close of business on the last Business Day of the month
immediately preceding the month of such distribution (the "Record Date"). All
sums distributable on this Certificate are payable in the coin or currency of
the United States of America as at the time of payment is legal tender for the
payment of public and private debts.

            Interest on this Certificate will accrue (computed as if each year
consisted of 360 days and each month consisted of 30 days) during the Interest
Accrual Period relating to such Distribution Date at the Pass-Through Rate on
the Certificate Balance of this Certificate immediately prior to each
Distribution Date. Principal and interest allocated to this Certificate on any
Distribution Date will be in an amount due to this Certificate's pro rata share
of the amount to be distributed on the Certificates of this Class as of such
Distribution Date, with a final distribution to be made upon retirement of this
Certificate as set forth in the Pooling and Servicing Agreement.

            Unless the certificate of authentication hereon has been executed by
the Authenticating Agent, by manual signature, this Certificate shall not be
entitled to any benefit under the Pooling and Servicing Agreement or be valid
for any purpose.

            Realized Losses, Expense Losses and interest shortfalls on the
Mortgage Loans shall be allocated on the applicable Distribution Date to
Certificateholders in the manner set forth in the Pooling and Servicing
Agreement. All Realized Losses, Expense Losses and interest shortfalls on the
Mortgage Loans allocated to any Class of Certificates will be allocated pro rata
among the outstanding Certificates of such Class.

            The Certificates are limited in right of payment to certain
collections and recoveries respecting the Mortgage Loans, all as more
specifically set forth in the Pooling and Servicing Agreement. As provided in
the Pooling and Servicing Agreement, withdrawals from the Certificate Account
shall be made from time to time for purposes other than distributions to
Certificateholders, such purposes including reimbursement of certain expenses
incurred with respect to the servicing of the Mortgage Loans and administration
of the Trust.

            All distributions under the Pooling and Servicing Agreement to a
nominee of The Depository Trust Company ("DTC") will be made by or on behalf of
the Paying Agent by wire transfer in immediately available funds to an account
specified in the request of such Certificateholder. All distributions under the
Pooling and Servicing Agreement to Certificateholders will be made by wire
transfer in immediately available funds to the account specified by the
Certificateholder, at a bank or other entity having appropriate facilities
therefor, if such Certificateholder will have provided the Paying Agent with
wiring instructions on or prior to the related Record Date or otherwise by check
mailed to such Certificateholder. Notwithstanding the above, the final
distribution on any Certificate will be made only upon presentation and
surrender of such Certificate at the location that will be specified in a notice
of the pendency of such final distribution.

            The Pooling and Servicing Agreement permits, with certain exceptions
therein provided, the amendment thereof and the modification of the rights and
obligations of the Certificateholders under the Pooling and Servicing Agreement
at any time by the parties thereto with the consent of the Holders of not less
than 51% of the Aggregate Certificate Balance of the Certificates then
outstanding, as specified in the Pooling and Servicing Agreement. Any such
consent by the Holder of this Certificate shall be conclusive and binding on
such Holder and upon all future Holders of this Certificate and of any
Certificate issued upon the transfer hereof or in exchange herefor or in lieu
hereof whether or not notation of such consent is made upon the Certificate. The
Pooling and Servicing Agreement also permits the amendment thereof, in certain
circumstances, without the consent of the Holders of any of the Certificates.

            As provided in the Pooling and Servicing Agreement and subject to
certain limitations therein set forth, the transfer of this Certificate is
registrable in the Certificate Register upon surrender of this Certificate for
registration of transfer at the Corporate Trust Office of the Certificate
Registrar, duly endorsed by, or accompanied by an assignment in the form below
or other written instrument of transfer in form satisfactory to the Certificate
Registrar duly executed by the Holder hereof or such Holder's attorney duly
authorized in writing, and thereupon one or more new Certificates of the same
Class in authorized denominations will be issued to the designated transferee or
transferees.

            Subject to the terms of the Pooling and Servicing Agreement, the
Certificates are issuable in fully registered form only, without coupons, in
minimum denominations specified in the Pooling and Servicing Agreement.

            As provided in the Pooling and Servicing Agreement and subject to
certain limitations therein set forth, Certificates are exchangeable for new
Certificates of the same Class in authorized denominations as requested by the
Holder surrendering the same. No service charge will be made for any such
registration of transfer or exchange but the Certificate Registrar may require
payment of a sum sufficient to cover any tax or other governmental charge that
may be imposed in connection with any transfer or exchange of Certificates.

            Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book entry facilities of DTC.

            The Depositor, the Trustee, the Fiscal Agent, the Paying Agent, the
Master Servicer, the Special Servicer and the Certificate Registrar and any of
their agents may treat the Person in whose name this Certificate is registered
as the owner hereof for all purposes, and neither the Depositor, the Trustee,
the Fiscal Agent, the Paying Agent, the Master Servicer, the Special Servicer,
the Certificate Registrar nor any such agents shall be affected by notice to the
contrary.

            The obligations and responsibilities of the Trustee and the Paying
Agent created hereby (other than the obligation of the Paying Agent to make
payments to the Certificateholders as set forth in Section 10.2 of the Pooling
and Servicing Agreement and other than the obligations in the nature of
information or tax reporting) shall terminate on the earliest of (i) the later
of (A) the final payment or other liquidation of the last Mortgage Loan
remaining in the Trust and (B) the disposition of all REO Property or (ii) the
sale of the property held by the Trust in accordance with Section 10.1(b) of the
Pooling and Servicing Agreement or (iii) the termination of the Trust pursuant
to Section 10.1(c) of the Pooling and Servicing Agreement; provided that in no
event shall the Trust continue beyond the expiration of 21 years from the death
of the last survivor of the descendants of Joseph P. Kennedy, the late
Ambassador of the United States to the Court of St. James, living on the date
hereof. The parties designated in the Pooling and Servicing Agreement may
exercise their option to purchase the Mortgage Loans and any other property
remaining in the Trust and cause the termination of the Trust in accordance with
the requirements set forth in the Pooling and Servicing Agreement. Upon
termination of the Trust and payment of the Certificates and of all
administrative expenses associated with the Trust, any remaining assets of the
Trust shall be distributed to the holders of the Residual Certificates.

            The Certificate Registrar has executed this Certificate under the
Pooling and Servicing Agreement.

            THIS CERTIFICATE AND THE POOLING AND SERVICING AGREEMENT SHALL BE
CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK
WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

<PAGE>

            IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed under this official seal.

                                        LASALLE BANK NATIONAL
                                           ASSOCIATION, as Certificate Registrar

                                        By:_____________________________________
                                                   AUTHORIZED SIGNATORY

Dated: June 27, 2002

                          CERTIFICATE OF AUTHENTICATION

            THIS IS ONE OF THE CLASS A-4 CERTIFICATES REFERRED TO IN THE
WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

                                        LASALLE BANK NATIONAL
                                           ASSOCIATION,
                                           AUTHENTICATING AGENT

                                        By:_____________________________________
                                                   AUTHORIZED SIGNATORY

<PAGE>

                                  ABBREVIATIONS

The following abbreviations, when used in the inscription on the face of this
Certificate, shall be construed as though they were written out in full
according to applicable laws or regulations:

TEN COM - as tenant in common            UNIF GIFT MIN ACT.............Custodian
                                                             (Cust)
TEN ENT - as tenants by the entireties
                                              Under Uniform Gifts to Minors
JT TEN  - as joint tenants with
          rights of survivorship and
          not as tenants in common                Act..................
                                                         (State)

     Additional abbreviations may also be used though not in the above list.

                                FORM OF TRANSFER

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto

________________________________________________________________________________

____________________________________            PLEASE INSERT SOCIAL SECURITY OR
                                                OTHER IDENTIFYING NUMBER OF
____________________________________            ASSIGNEE

________________________________________________________________________________
             Please print or typewrite name and address of assignee

________________________________________________________________________________
the within Certificate and does hereby or irrevocably constitute and appoint

________________________________________________________________________________
to transfer the said Certificate in the Certificate Register of the within-named
Trust, with full power of substitution in the premises.

Dated:_________________________     ____________________________________________
                                    NOTICE: The signature to this assignment
                                    must correspond with the name as written
                                    upon the face of this Certificate in every
                                    particular without alteration or enlargement
                                    or any change whatever.

________________________________________
SIGNATURE GUARANTEED
The signature must be guaranteed by a
commercial bank or trust company or by a
member firm of the New York Stock
Exchange or another national securities
exchange. Notarized or witnessed
signatures are not acceptable.

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

            The assignee should include the following for purposes of
distribution:

            Distributions shall be made, by wire transfer or otherwise, in
immediately available funds to _____________ for the account of ________________
account number ______________ or, if mailed by check, to ______________________.
Statements should be mailed to ____________________. This information is
provided by assignee named above, or ______________________, as its agent.

<PAGE>

                     [TO BE ATTACHED TO GLOBAL CERTIFICATES]

                  SCHEDULE OF EXCHANGES OF GLOBAL CERTIFICATES

The following exchanges of a part of this Global Certificate have been made:

<PAGE>

                                   EXHIBIT A-5

                          [FORM OF CLASS B CERTIFICATE]

THIS CLASS B CERTIFICATE DOES NOT CONSTITUTE AN OBLIGATION OF OR AN INTEREST IN
THE SELLERS, THE DEPOSITOR, THE UNDERWRITERS, THE TRUSTEE, THE FISCAL AGENT, THE
CERTIFICATE REGISTRAR, THE PAYING AGENT, THE MASTER SERVICER, THE SPECIAL
SERVICER, THE PRIMARY SERVICERS OR ANY OF THEIR RESPECTIVE AFFILIATES, AND WILL
NOT BE INSURED OR GUARANTEED BY ANY SUCH ENTITY OR BY ANY GOVERNMENTAL AGENCY.

THE INITIAL CERTIFICATE BALANCE HEREOF IS AS SET FORTH HEREIN, REDUCED OR
INCREASED AS SET FORTH ON THE SCHEDULE OF EXCHANGES ATTACHED HERETO.

IF THE TRANSFEREE OF THIS CERTIFICATE IS AN EMPLOYEE BENEFIT PLAN SUBJECT TO THE
FIDUCIARY RESPONSIBILITY PROVISIONS OF THE EMPLOYEE RETIREMENT INCOME SECURITY
ACT OF 1974, AS AMENDED, OR SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986,
AS AMENDED, OR ANY PERSON ACTING ON BEHALF OF ANY SUCH PLAN OR USING THE ASSETS
OF SUCH PLAN TO ACQUIRE OR HOLD THIS CERTIFICATE, SUCH PLAN OR SUCH PERSON MUST
BE AN ACCREDITED INVESTOR.

THE PORTION OF THE CERTIFICATE BALANCE OF THE CERTIFICATES EVIDENCED BY THIS
CERTIFICATE WILL BE DECREASED BY THE PORTION OF PRINCIPAL DISTRIBUTIONS,
REALIZED LOSSES AND CERTAIN EXPENSE LOSSES ON THE CERTIFICATES ALLOCABLE TO THIS
CLASS B CERTIFICATE. ACCORDINGLY, THE CERTIFICATE BALANCE OF THIS CERTIFICATE
MAY BE LESS THAN THAT SET FORTH BELOW. ANYONE ACQUIRING THIS CERTIFICATE MAY
ASCERTAIN ITS CURRENT CERTIFICATE BALANCE BY INQUIRY OF THE PAYING AGENT.

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO THE CERTIFICATE
REGISTRAR OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND
ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER
NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
HEREON IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED
OWNER HEREOF, CEDE & CO. HAS AN INTEREST HEREIN.

THIS CERTIFICATE REPRESENTS A "REGULAR INTEREST" IN A "REAL ESTATE MORTGAGE
INVESTMENT CONDUIT," AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G
AND 860d OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE").

                    MORGAN STANLEY DEAN WITTER CAPITAL I INC.
                 COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES,
                                 SERIES 2002-IQ2

INITIAL PASS-THROUGH RATE:  5.93%         MASTER SERVICER:  ORIX CAPITAL
                                          MARKETS, LLC

DATE OF POOLING AND SERVICING             SPECIAL SERVICER:  LEND LEASE ASSET
AGREEMENT:  AS OF JUNE 1, 2002            MANAGEMENT, L.P.

CUT-OFF DATE:  JUNE 1, 2002               PAYING AGENT: LASALLE BANK NATIONAL
                                          ASSOCIATION

CLOSING DATE:  JUNE 27, 2002

FIRST DISTRIBUTION DATE:  JULY 15, 2002   TRUSTEE:  LASALLE BANK NATIONAL
                                          ASSOCIATION

AGGREGATE CERTIFICATE BALANCE OF THE      FISCAL AGENT: ABN AMRO BANK N.V.
CLASS B CERTIFICATES AS OF THE CLOSING
DATE: $25,305,000

CERTIFICATE BALANCE OF THIS CLASS B       CUSIP NO. [__________]
CERTIFICATE AS OF THE CLOSING DATE:
$[__________] (SUBJECT TO SCHEDULE OF
EXCHANGES ATTACHED)

No. B-1

                               CLASS B CERTIFICATE

evidencing a beneficial ownership interest in a Trust, consisting primarily of a
pool of commercial and multifamily mortgage loans (the "Mortgage Loans") and
certain other property, formed and sold by

                    MORGAN STANLEY DEAN WITTER CAPITAL I INC.

            THIS CERTIFIES THAT CEDE & CO. is the registered owner of the
interest evidenced by this Certificate in the Class B Certificates issued by the
Trust created pursuant to the Pooling and Servicing Agreement, dated as
specified above (the "Pooling and Servicing Agreement"), among Morgan Stanley
Dean Witter Capital I Inc. (hereinafter called the "Depositor", which term
includes any successor entity under the Pooling and Servicing Agreement), the
Trustee, the Fiscal Agent, the Paying Agent, the Certificate Registrar, the
Master Servicer and the Special Servicer, a summary of certain of the pertinent
provisions of which is set forth hereafter. The Trust consists primarily of the
Mortgage Loans, such amounts as shall from time to time be held in the
Certificate Account and Distribution Account, the Insurance Policies and any REO
Properties. To the extent not defined herein, the capitalized terms used herein
have the meanings assigned in the Pooling and Servicing Agreement.

            This Certificate is one of a duly authorized issue of Certificates
designated as Certificates of the series specified on the face hereof (herein
called the "Certificates") and representing an interest in the Class of
Certificates specified on the face hereof equal to the quotient expressed as a
percentage obtained by dividing the Certificate Balance of this Certificate
specified on the face hereof by the aggregate initial Certificate Balance of the
Class B Certificates. The Certificates are designated as the Morgan Stanley Dean
Witter Capital I Inc., Commercial Mortgage Pass-Through Certificates, Series
2002-IQ2 and are issued in the Classes specified in the Pooling and Servicing
Agreement. The Certificates will evidence in the aggregate 100% of the
beneficial ownership of the Trust.

            This Certificate does not purport to summarize the Pooling and
Servicing Agreement and reference is made to that Agreement for information with
respect to the interests, rights, benefits, obligations, proceeds, and duties
evidenced hereby and the rights, duties and obligations of the Trustee and the
Paying Agent. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Pooling and Servicing Agreement, to which
Pooling and Servicing Agreement, as amended from time to time, the
Certificateholder by virtue of the acceptance hereof assents and by which the
Certificateholder is bound. In the case of any conflict between terms specified
in this Certificate and terms specified in the Pooling and Servicing Agreement,
the terms of the Pooling and Servicing Agreement shall govern.

            Distributions of principal of and interest on this Certificate will
be made out of the Available Distribution Amount, to the extent and subject to
the limitations set forth in the Pooling and Servicing Agreement, on the 15th
day of each month or, if such 15th day is not a Business Day, the next
succeeding Business Day (a "Distribution Date") commencing on the first
Distribution Date specified above, to the Person in whose name this Certificate
is registered at the close of business on the last Business Day of the month
immediately preceding the month of such distribution (the "Record Date"). All
sums distributable on this Certificate are payable in the coin or currency of
the United States of America as at the time of payment is legal tender for the
payment of public and private debts.

            Interest on this Certificate will accrue (computed as if each year
consisted of 360 days and each month consisted of 30 days) during the Interest
Accrual Period relating to such Distribution Date at the Pass-Through Rate on
the Certificate Balance of this Certificate immediately prior to each
Distribution Date. Principal and interest allocated to this Certificate on any
Distribution Date will be in an amount due to this Certificate's pro rata share
of the amount to be distributed on the Certificates of this Class as of such
Distribution Date, with a final distribution to be made upon retirement of this
Certificate as set forth in the Pooling and Servicing Agreement.

            Unless the certificate of authentication hereon has been executed by
the Authenticating Agent, by manual signature, this Certificate shall not be
entitled to any benefit under the Pooling and Servicing Agreement or be valid
for any purpose.

            Realized Losses, Expense Losses and interest shortfalls on the
Mortgage Loans shall be allocated on the applicable Distribution Date to
Certificateholders in the manner set forth in the Pooling and Servicing
Agreement. All Realized Losses, Expense Losses and interest shortfalls on the
Mortgage Loans allocated to any Class of Certificates will be allocated pro rata
among the outstanding Certificates of such Class.

            The Certificates are limited in right of payment to certain
collections and recoveries respecting the Mortgage Loans, all as more
specifically set forth in the Pooling and Servicing Agreement. As provided in
the Pooling and Servicing Agreement, withdrawals from the Certificate Account
shall be made from time to time for purposes other than distributions to
Certificateholders, such purposes including reimbursement of certain expenses
incurred with respect to the servicing of the Mortgage Loans and administration
of the Trust.

            All distributions under the Pooling and Servicing Agreement to a
nominee of The Depository Trust Company ("DTC") will be made by or on behalf of
the Paying Agent by wire transfer in immediately available funds to an account
specified in the request of such Certificateholder. All distributions under the
Pooling and Servicing Agreement to Certificateholders will be made by wire
transfer in immediately available funds to the account specified by the
Certificateholder, at a bank or other entity having appropriate facilities
therefor, if such Certificateholder will have provided the Paying Agent with
wiring instructions on or prior to the related Record Date or otherwise by check
mailed to such Certificateholder. Notwithstanding the above, the final
distribution on any Certificate will be made only upon presentation and
surrender of such Certificate at the location that will be specified in a notice
of the pendency of such final distribution.

            The Pooling and Servicing Agreement permits, with certain exceptions
therein provided, the amendment thereof and the modification of the rights and
obligations of the Certificateholders under the Pooling and Servicing Agreement
at any time by the parties thereto with the consent of the Holders of not less
than 51% of the Aggregate Certificate Balance of the Certificates then
outstanding, as specified in the Pooling and Servicing Agreement. Any such
consent by the Holder of this Certificate shall be conclusive and binding on
such Holder and upon all future Holders of this Certificate and of any
Certificate issued upon the transfer hereof or in exchange herefor or in lieu
hereof whether or not notation of such consent is made upon the Certificate. The
Pooling and Servicing Agreement also permits the amendment thereof, in certain
circumstances, without the consent of the Holders of any of the Certificates.

            As provided in the Pooling and Servicing Agreement and subject to
certain limitations therein set forth, the transfer of this Certificate is
registrable in the Certificate Register upon surrender of this Certificate for
registration of transfer at the Corporate Trust Office of the Certificate
Registrar, duly endorsed by, or accompanied by an assignment in the form below
or other written instrument of transfer in form satisfactory to the Certificate
Registrar duly executed by the Holder hereof or such Holder's attorney duly
authorized in writing, and thereupon one or more new Certificates of the same
Class in authorized denominations will be issued to the designated transferee or
transferees.

            Subject to the terms of the Pooling and Servicing Agreement, the
Certificates are issuable in fully registered form only, without coupons, in
minimum denominations specified in the Pooling and Servicing Agreement.

            As provided in the Pooling and Servicing Agreement and subject to
certain limitations therein set forth, Certificates are exchangeable for new
Certificates of the same Class in authorized denominations as requested by the
Holder surrendering the same. No service charge will be made for any such
registration of transfer or exchange but the Certificate Registrar may require
payment of a sum sufficient to cover any tax or other governmental charge that
may be imposed in connection with any transfer or exchange of Certificates.

            Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book entry facilities of DTC.

            The Depositor, the Trustee, the Fiscal Agent, the Paying Agent, the
Master Servicer, the Special Servicer and the Certificate Registrar and any of
their agents may treat the Person in whose name this Certificate is registered
as the owner hereof for all purposes, and neither the Depositor, the Trustee,
the Fiscal Agent, the Paying Agent, the Master Servicer, the Special Servicer,
the Certificate Registrar nor any such agents shall be affected by notice to the
contrary.

            The obligations and responsibilities of the Trustee and the Paying
Agent created hereby (other than the obligation of the Paying Agent to make
payments to the Certificateholders as set forth in Section 10.2 of the Pooling
and Servicing Agreement and other than the obligations in the nature of
information or tax reporting) shall terminate on the earliest of (i) the later
of (A) the final payment or other liquidation of the last Mortgage Loan
remaining in the Trust and (B) the disposition of all REO Property or (ii) the
sale of the property held by the Trust in accordance with Section 10.1(b) of the
Pooling and Servicing Agreement or (iii) the termination of the Trust pursuant
to Section 10.1(c) of the Pooling and Servicing Agreement; provided that in no
event shall the Trust continue beyond the expiration of 21 years from the death
of the last survivor of the descendants of Joseph P. Kennedy, the late
Ambassador of the United States to the Court of St. James, living on the date
hereof. The parties designated in the Pooling and Servicing Agreement may
exercise their option to purchase the Mortgage Loans and any other property
remaining in the Trust and cause the termination of the Trust in accordance with
the requirements set forth in the Pooling and Servicing Agreement. Upon
termination of the Trust and payment of the Certificates and of all
administrative expenses associated with the Trust, any remaining assets of the
Trust shall be distributed to the holders of the Residual Certificates.

            The Certificate Registrar has executed this Certificate under the
Pooling and Servicing Agreement.

            THIS CERTIFICATE AND THE POOLING AND SERVICING AGREEMENT SHALL BE
CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK
WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

<PAGE>

            IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed under this official seal.

                                        LASALLE BANK NATIONAL
                                           ASSOCIATION, as Certificate Registrar

                                        By:_____________________________________
                                                   AUTHORIZED SIGNATORY

Dated: June 27, 2002

                          CERTIFICATE OF AUTHENTICATION

            THIS IS ONE OF THE CLASS B CERTIFICATES REFERRED TO IN THE
WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

                                        LASALLE BANK NATIONAL
                                           ASSOCIATION,
                                           AUTHENTICATING AGENT

                                        By:_____________________________________
                                                   AUTHORIZED SIGNATORY

<PAGE>

                                  ABBREVIATIONS

The following abbreviations, when used in the inscription on the face of this
Certificate, shall be construed as though they were written out in full
according to applicable laws or regulations:

TEN COM - as tenant in common            UNIF GIFT MIN ACT.............Custodian
                                                             (Cust)
TEN ENT - as tenants by the entireties
                                              Under Uniform Gifts to Minors
JT TEN  - as joint tenants with
          rights of survivorship and
          not as tenants in common                Act..................
                                                         (State)

     Additional abbreviations may also be used though not in the above list.

                                FORM OF TRANSFER

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto

________________________________________________________________________________

____________________________________            PLEASE INSERT SOCIAL SECURITY OR
                                                OTHER IDENTIFYING NUMBER OF
____________________________________            ASSIGNEE

________________________________________________________________________________
             Please print or typewrite name and address of assignee

________________________________________________________________________________
the within Certificate and does hereby or irrevocably constitute and appoint

________________________________________________________________________________
to transfer the said Certificate in the Certificate Register of the within-named
Trust, with full power of substitution in the premises.

Dated:_________________________     ____________________________________________
                                    NOTICE: The signature to this assignment
                                    must correspond with the name as written
                                    upon the face of this Certificate in every
                                    particular without alteration or enlargement
                                    or any change whatever.

________________________________________
SIGNATURE GUARANTEED
The signature must be guaranteed by a
commercial bank or trust company or by a
member firm of the New York Stock
Exchange or another national securities
exchange. Notarized or witnessed
signatures are not acceptable.

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

            The assignee should include the following for purposes of
distribution:

            Distributions shall be made, by wire transfer or otherwise, in
immediately available funds to _____________ for the account of ________________
account number ______________ or, if mailed by check, to ______________________.
Statements should be mailed to ____________________. This information is
provided by assignee named above, or ______________________, as its agent.

<PAGE>

                     [TO BE ATTACHED TO GLOBAL CERTIFICATES]

                  SCHEDULE OF EXCHANGES OF GLOBAL CERTIFICATES

The following exchanges of a part of this Global Certificate have been made:

<PAGE>

                                   EXHIBIT A-6

                          [FORM OF CLASS C CERTIFICATE]

THIS CLASS C CERTIFICATE DOES NOT CONSTITUTE AN OBLIGATION OF OR AN INTEREST IN
THE SELLERS, THE DEPOSITOR, THE UNDERWRITERS, THE TRUSTEE, THE FISCAL AGENT, THE
CERTIFICATE REGISTRAR, THE PAYING AGENT, THE MASTER SERVICER, THE SPECIAL
SERVICER, THE PRIMARY SERVICERS OR ANY OF THEIR RESPECTIVE AFFILIATES, AND WILL
NOT BE INSURED OR GUARANTEED BY ANY SUCH ENTITY OR BY ANY GOVERNMENTAL AGENCY.

THE INITIAL CERTIFICATE BALANCE HEREOF IS AS SET FORTH HEREIN, REDUCED OR
INCREASED AS SET FORTH ON THE SCHEDULE OF EXCHANGES ATTACHED HERETO.

IF THE TRANSFEREE OF THIS CERTIFICATE IS AN EMPLOYEE BENEFIT PLAN SUBJECT TO THE
FIDUCIARY RESPONSIBILITY PROVISIONS OF THE EMPLOYEE RETIREMENT INCOME SECURITY
ACT OF 1974, AS AMENDED, OR SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986,
AS AMENDED, OR ANY PERSON ACTING ON BEHALF OF ANY SUCH PLAN OR USING THE ASSETS
OF SUCH PLAN TO ACQUIRE OR HOLD THIS CERTIFICATE, SUCH PLAN OR SUCH PERSON MUST
BE AN ACCREDITED INVESTOR.

THE PORTION OF THE CERTIFICATE BALANCE OF THE CERTIFICATES EVIDENCED BY THIS
CERTIFICATE WILL BE DECREASED BY THE PORTION OF PRINCIPAL DISTRIBUTIONS,
REALIZED LOSSES AND CERTAIN EXPENSE LOSSES ON THE CERTIFICATES ALLOCABLE TO THIS
CLASS C CERTIFICATE. ACCORDINGLY, THE CERTIFICATE BALANCE OF THIS CERTIFICATE
MAY BE LESS THAN THAT SET FORTH BELOW. ANYONE ACQUIRING THIS CERTIFICATE MAY
ASCERTAIN ITS CURRENT CERTIFICATE BALANCE BY INQUIRY OF THE PAYING AGENT.

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO THE CERTIFICATE
REGISTRAR OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND
ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER
NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
HEREON IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED
OWNER HEREOF, CEDE & CO. HAS AN INTEREST HEREIN.

THIS CERTIFICATE REPRESENTS A "REGULAR INTEREST" IN A "REAL ESTATE MORTGAGE
INVESTMENT CONDUIT," AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G
AND 860d OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE").

<PAGE>

                    MORGAN STANLEY DEAN WITTER CAPITAL I INC.
                 COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES,
                                 SERIES 2002-IQ2

INITIAL PASS-THROUGH RATE:  6.12%         MASTER SERVICER:  ORIX CAPITAL
                                          MARKETS, LLC

DATE OF POOLING AND SERVICING             SPECIAL SERVICER:  LEND LEASE ASSET
AGREEMENT:  AS OF JUNE 1, 2002            MANAGEMENT, L.P.

CUT-OFF DATE:  JUNE 1, 2002               PAYING AGENT: LASALLE BANK NATIONAL
                                          ASSOCIATION

CLOSING DATE: JUNE 27, 2002

FIRST DISTRIBUTION DATE: JULY 15, 2002    TRUSTEE:  LASALLE BANK NATIONAL
                                          ASSOCIATION

AGGREGATE CERTIFICATE BALANCE OF THE      FISCAL AGENT: ABN AMRO BANK N.V.
CLASS C CERTIFICATES AS OF THE CLOSING
DATE: $24,330,000

CERTIFICATE BALANCE OF THIS CLASS C       CUSIP NO. [__________]
CERTIFICATE AS OF THE CLOSING DATE:
$[__________] (SUBJECT TO SCHEDULE OF
EXCHANGES ATTACHED)

No. C-1

                              CLASS C CERTIFICATE

evidencing a beneficial ownership interest in a Trust, consisting primarily of a
pool of commercial and multifamily mortgage loans (the "Mortgage Loans") and
certain other property, formed and sold by

                    MORGAN STANLEY DEAN WITTER CAPITAL I INC.

            THIS CERTIFIES THAT CEDE & CO. is the registered owner of the
interest evidenced by this Certificate in the Class C Certificates issued by the
Trust created pursuant to the Pooling and Servicing Agreement, dated as
specified above (the "Pooling and Servicing Agreement"), among Morgan Stanley
Dean Witter Capital I Inc. (hereinafter called the "Depositor", which term
includes any successor entity under the Pooling and Servicing Agreement), the
Trustee, the Fiscal Agent, the Paying Agent, the Certificate Registrar, the
Master Servicer and the Special Servicer, a summary of certain of the pertinent
provisions of which is set forth hereafter. The Trust consists primarily of the
Mortgage Loans, such amounts as shall from time to time be held in the
Certificate Account and Distribution Account, the Insurance Policies and any REO
Properties. To the extent not defined herein, the capitalized terms used herein
have the meanings assigned in the Pooling and Servicing Agreement.

            This Certificate is one of a duly authorized issue of Certificates
designated as Certificates of the series specified on the face hereof (herein
called the "Certificates") and representing an interest in the Class of
Certificates specified on the face hereof equal to the quotient expressed as a
percentage obtained by dividing the Certificate Balance of this Certificate
specified on the face hereof by the aggregate initial Certificate Balance of the
Class C Certificates. The Certificates are designated as the Morgan Stanley Dean
Witter Capital I Inc., Commercial Mortgage Pass-Through Certificates, Series
2002-IQ2 and are issued in the Classes specified in the Pooling and Servicing
Agreement. The Certificates will evidence in the aggregate 100% of the
beneficial ownership of the Trust.

            This Certificate does not purport to summarize the Pooling and
Servicing Agreement and reference is made to that Agreement for information with
respect to the interests, rights, benefits, obligations, proceeds, and duties
evidenced hereby and the rights, duties and obligations of the Trustee and the
Paying Agent. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Pooling and Servicing Agreement, to which
Pooling and Servicing Agreement, as amended from time to time, the
Certificateholder by virtue of the acceptance hereof assents and by which the
Certificateholder is bound. In the case of any conflict between terms specified
in this Certificate and terms specified in the Pooling and Servicing Agreement,
the terms of the Pooling and Servicing Agreement shall govern.

            Distributions of principal of and interest on this Certificate will
be made out of the Available Distribution Amount, to the extent and subject to
the limitations set forth in the Pooling and Servicing Agreement, on the 15th
day of each month or, if such 15th day is not a Business Day, the next
succeeding Business Day (a "Distribution Date") commencing on the first
Distribution Date specified above, to the Person in whose name this Certificate
is registered at the close of business on the last Business Day of the month
immediately preceding the month of such distribution (the "Record Date"). All
sums distributable on this Certificate are payable in the coin or currency of
the United States of America as at the time of payment is legal tender for the
payment of public and private debts.

            Interest on this Certificate will accrue (computed as if each year
consisted of 360 days and each month consisted of 30 days) during the Interest
Accrual Period relating to such Distribution Date at the Pass-Through Rate on
the Certificate Balance of this Certificate immediately prior to each
Distribution Date. Principal and interest allocated to this Certificate on any
Distribution Date will be in an amount due to this Certificate's pro rata share
of the amount to be distributed on the Certificates of this Class as of such
Distribution Date, with a final distribution to be made upon retirement of this
Certificate as set forth in the Pooling and Servicing Agreement.

            Unless the certificate of authentication hereon has been executed by
the Authenticating Agent, by manual signature, this Certificate shall not be
entitled to any benefit under the Pooling and Servicing Agreement or be valid
for any purpose.

            Realized Losses, Expense Losses and interest shortfalls on the
Mortgage Loans shall be allocated on the applicable Distribution Date to
Certificateholders in the manner set forth in the Pooling and Servicing
Agreement. All Realized Losses, Expense Losses and interest shortfalls on the
Mortgage Loans allocated to any Class of Certificates will be allocated pro rata
among the outstanding Certificates of such Class.

            The Certificates are limited in right of payment to certain
collections and recoveries respecting the Mortgage Loans, all as more
specifically set forth in the Pooling and Servicing Agreement. As provided in
the Pooling and Servicing Agreement, withdrawals from the Certificate Account
shall be made from time to time for purposes other than distributions to
Certificateholders, such purposes including reimbursement of certain expenses
incurred with respect to the servicing of the Mortgage Loans and administration
of the Trust.

            All distributions under the Pooling and Servicing Agreement to a
nominee of The Depository Trust Company ("DTC") will be made by or on behalf of
the Paying Agent by wire transfer in immediately available funds to an account
specified in the request of such Certificateholder. All distributions under the
Pooling and Servicing Agreement to Certificateholders will be made by wire
transfer in immediately available funds to the account specified by the
Certificateholder, at a bank or other entity having appropriate facilities
therefor, if such Certificateholder will have provided the Paying Agent with
wiring instructions on or prior to the related Record Date or otherwise by check
mailed to such Certificateholder. Notwithstanding the above, the final
distribution on any Certificate will be made only upon presentation and
surrender of such Certificate at the location that will be specified in a notice
of the pendency of such final distribution.

            The Pooling and Servicing Agreement permits, with certain exceptions
therein provided, the amendment thereof and the modification of the rights and
obligations of the Certificateholders under the Pooling and Servicing Agreement
at any time by the parties thereto with the consent of the Holders of not less
than 51% of the Aggregate Certificate Balance of the Certificates then
outstanding, as specified in the Pooling and Servicing Agreement. Any such
consent by the Holder of this Certificate shall be conclusive and binding on
such Holder and upon all future Holders of this Certificate and of any
Certificate issued upon the transfer hereof or in exchange herefor or in lieu
hereof whether or not notation of such consent is made upon the Certificate. The
Pooling and Servicing Agreement also permits the amendment thereof, in certain
circumstances, without the consent of the Holders of any of the Certificates.

            As provided in the Pooling and Servicing Agreement and subject to
certain limitations therein set forth, the transfer of this Certificate is
registrable in the Certificate Register upon surrender of this Certificate for
registration of transfer at the Corporate Trust Office of the Certificate
Registrar, duly endorsed by, or accompanied by an assignment in the form below
or other written instrument of transfer in form satisfactory to the Certificate
Registrar duly executed by the Holder hereof or such Holder's attorney duly
authorized in writing, and thereupon one or more new Certificates of the same
Class in authorized denominations will be issued to the designated transferee or
transferees.

            Subject to the terms of the Pooling and Servicing Agreement, the
Certificates are issuable in fully registered form only, without coupons, in
minimum denominations specified in the Pooling and Servicing Agreement.

            As provided in the Pooling and Servicing Agreement and subject to
certain limitations therein set forth, Certificates are exchangeable for new
Certificates of the same Class in authorized denominations as requested by the
Holder surrendering the same. No service charge will be made for any such
registration of transfer or exchange but the Certificate Registrar may require
payment of a sum sufficient to cover any tax or other governmental charge that
may be imposed in connection with any transfer or exchange of Certificates.

            Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book entry facilities of DTC.

            The Depositor, the Trustee, the Fiscal Agent, the Paying Agent, the
Master Servicer, the Special Servicer and the Certificate Registrar and any of
their agents may treat the Person in whose name this Certificate is registered
as the owner hereof for all purposes, and neither the Depositor, the Trustee,
the Fiscal Agent, the Paying Agent, the Master Servicer, the Special Servicer,
the Certificate Registrar nor any such agents shall be affected by notice to the
contrary.

            The obligations and responsibilities of the Trustee and the Paying
Agent created hereby (other than the obligation of the Paying Agent to make
payments to the Certificateholders as set forth in Section 10.2 of the Pooling
and Servicing Agreement and other than the obligations in the nature of
information or tax reporting) shall terminate on the earliest of (i) the later
of (A) the final payment or other liquidation of the last Mortgage Loan
remaining in the Trust and (B) the disposition of all REO Property or (ii) the
sale of the property held by the Trust in accordance with Section 10.1(b) of the
Pooling and Servicing Agreement or (iii) the termination of the Trust pursuant
to Section 10.1(c) of the Pooling and Servicing Agreement; provided that in no
event shall the Trust continue beyond the expiration of 21 years from the death
of the last survivor of the descendants of Joseph P. Kennedy, the late
Ambassador of the United States to the Court of St. James, living on the date
hereof. The parties designated in the Pooling and Servicing Agreement may
exercise their option to purchase the Mortgage Loans and any other property
remaining in the Trust and cause the termination of the Trust in accordance with
the requirements set forth in the Pooling and Servicing Agreement. Upon
termination of the Trust and payment of the Certificates and of all
administrative expenses associated with the Trust, any remaining assets of the
Trust shall be distributed to the holders of the Residual Certificates.

            The Certificate Registrar has executed this Certificate under the
Pooling and Servicing Agreement.

            THIS CERTIFICATE AND THE POOLING AND SERVICING AGREEMENT SHALL BE
CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK
WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

<PAGE>

            IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed under this official seal.

                                        LASALLE BANK NATIONAL
                                           ASSOCIATION, as Certificate Registrar

                                        By:_____________________________________
                                                   AUTHORIZED SIGNATORY

Dated: June 27, 2002

                          CERTIFICATE OF AUTHENTICATION

            THIS IS ONE OF THE CLASS C CERTIFICATES REFERRED TO IN THE
WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

                                        LASALLE BANK NATIONAL
                                           ASSOCIATION,
                                           AUTHENTICATING AGENT

                                        By:_____________________________________
                                                   AUTHORIZED SIGNATORY

<PAGE>

                                  ABBREVIATIONS

The following abbreviations, when used in the inscription on the face of this
Certificate, shall be construed as though they were written out in full
according to applicable laws or regulations:

TEN COM - as tenant in common            UNIF GIFT MIN ACT.............Custodian
                                                             (Cust)
TEN ENT - as tenants by the entireties
                                              Under Uniform Gifts to Minors
JT TEN  - as joint tenants with
          rights of survivorship and
          not as tenants in common                Act..................
                                                         (State)

     Additional abbreviations may also be used though not in the above list.

                                FORM OF TRANSFER

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto

________________________________________________________________________________

____________________________________            PLEASE INSERT SOCIAL SECURITY OR
                                                OTHER IDENTIFYING NUMBER OF
____________________________________            ASSIGNEE

________________________________________________________________________________
             Please print or typewrite name and address of assignee

________________________________________________________________________________
the within Certificate and does hereby or irrevocably constitute and appoint

________________________________________________________________________________
to transfer the said Certificate in the Certificate Register of the within-named
Trust, with full power of substitution in the premises.

Dated:_________________________     ____________________________________________
                                    NOTICE: The signature to this assignment
                                    must correspond with the name as written
                                    upon the face of this Certificate in every
                                    particular without alteration or enlargement
                                    or any change whatever.

________________________________________
SIGNATURE GUARANTEED
The signature must be guaranteed by a
commercial bank or trust company or by a
member firm of the New York Stock
Exchange or another national securities
exchange. Notarized or witnessed
signatures are not acceptable.

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

            The assignee should include the following for purposes of
distribution:

            Distributions shall be made, by wire transfer or otherwise, in
immediately available funds to _____________ for the account of ________________
account number ______________ or, if mailed by check, to ______________________.
Statements should be mailed to ____________________. This information is
provided by assignee named above, or ______________________, as its agent.

<PAGE>

                     [TO BE ATTACHED TO GLOBAL CERTIFICATES]

                  SCHEDULE OF EXCHANGES OF GLOBAL CERTIFICATES

The following exchanges of a part of this Global Certificate have been made:

<PAGE>

                                   EXHIBIT A-7

                          [FORM OF CLASS D CERTIFICATE]

THIS CLASS D CERTIFICATE DOES NOT CONSTITUTE AN OBLIGATION OF OR AN INTEREST IN
THE SELLERS, THE DEPOSITOR, THE UNDERWRITERS, THE TRUSTEE, THE FISCAL AGENT, THE
CERTIFICATE REGISTRAR, THE PAYING AGENT, THE MASTER SERVICER, THE SPECIAL
SERVICER, THE PRIMARY SERVICERS OR ANY OF THEIR RESPECTIVE AFFILIATES, AND WILL
NOT BE INSURED OR GUARANTEED BY ANY SUCH ENTITY OR BY ANY GOVERNMENTAL AGENCY.

THE INITIAL CERTIFICATE BALANCE HEREOF IS AS SET FORTH HEREIN, REDUCED OR
INCREASED AS SET FORTH ON THE SCHEDULE OF EXCHANGES ATTACHED HERETO.

IF THE TRANSFEREE OF THIS CERTIFICATE IS AN EMPLOYEE BENEFIT PLAN SUBJECT TO THE
FIDUCIARY RESPONSIBILITY PROVISIONS OF THE EMPLOYEE RETIREMENT INCOME SECURITY
ACT OF 1974, AS AMENDED, OR SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986,
AS AMENDED, OR ANY PERSON ACTING ON BEHALF OF ANY SUCH PLAN OR USING THE ASSETS
OF SUCH PLAN TO ACQUIRE OR HOLD THIS CERTIFICATE, SUCH PLAN OR SUCH PERSON MUST
BE AN ACCREDITED INVESTOR.

THE PORTION OF THE CERTIFICATE BALANCE OF THE CERTIFICATES EVIDENCED BY THIS
CERTIFICATE WILL BE DECREASED BY THE PORTION OF PRINCIPAL DISTRIBUTIONS,
REALIZED LOSSES AND CERTAIN EXPENSE LOSSES ON THE CERTIFICATES ALLOCABLE TO THIS
CLASS D CERTIFICATE. ACCORDINGLY, THE CERTIFICATE BALANCE OF THIS CERTIFICATE
MAY BE LESS THAN THAT SET FORTH BELOW. ANYONE ACQUIRING THIS CERTIFICATE MAY
ASCERTAIN ITS CURRENT CERTIFICATE BALANCE BY INQUIRY OF THE PAYING AGENT.

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO THE CERTIFICATE
REGISTRAR OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND
ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER
NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
HEREON IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED
OWNER HEREOF, CEDE & CO. HAS AN INTEREST HEREIN.

THIS CERTIFICATE REPRESENTS A "REGULAR INTEREST" IN A "REAL ESTATE MORTGAGE
INVESTMENT CONDUIT," AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G
AND 860d OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE").

<PAGE>

                    MORGAN STANLEY DEAN WITTER CAPITAL I INC.
                 COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES,
                                 SERIES 2002-IQ2

INITIAL PASS-THROUGH RATE:  6.23%         MASTER SERVICER:  ORIX CAPITAL
                                          MARKETS, LLC

DATE OF POOLING AND SERVICING             SPECIAL SERVICER:  LEND LEASE ASSET
AGREEMENT:  AS OF JUNE 1, 2002            MANAGEMENT, L.P.

CUT-OFF DATE:  JUNE 1, 2002               PAYING AGENT: LASALLE BANK NATIONAL
                                          ASSOCIATION

CLOSING DATE: JUNE 27, 2002

FIRST DISTRIBUTION DATE: JULY 15, 2002    TRUSTEE:  LASALLE BANK NATIONAL
                                          ASSOCIATION

AGGREGATE CERTIFICATE BALANCE OF THE      FISCAL AGENT: ABN AMRO BANK N.V.
CLASS D CERTIFICATES AS OF THE CLOSING
DATE: $7,786,000

CERTIFICATE BALANCE OF THIS CLASS D       CUSIP NO. [__________]
CERTIFICATE AS OF THE CLOSING DATE:
$[__________] (SUBJECT TO SCHEDULE OF
EXCHANGES ATTACHED)

No. D-1

                               CLASS D CERTIFICATE

evidencing a beneficial ownership interest in a Trust, consisting primarily of a
pool of commercial and multifamily mortgage loans (the "Mortgage Loans") and
certain other property, formed and sold by

                    MORGAN STANLEY DEAN WITTER CAPITAL I INC.

            THIS CERTIFIES THAT CEDE & CO. is the registered owner of the
interest evidenced by this Certificate in the Class D Certificates issued by the
Trust created pursuant to the Pooling and Servicing Agreement, dated as
specified above (the "Pooling and Servicing Agreement"), among Morgan Stanley
Dean Witter Capital I Inc. (hereinafter called the "Depositor", which term
includes any successor entity under the Pooling and Servicing Agreement), the
Trustee, the Fiscal Agent, the Paying Agent, the Certificate Registrar, the
Master Servicer and the Special Servicer, a summary of certain of the pertinent
provisions of which is set forth hereafter. The Trust consists primarily of the
Mortgage Loans, such amounts as shall from time to time be held in the
Certificate Account and Distribution Account, the Insurance Policies and any REO
Properties. To the extent not defined herein, the capitalized terms used herein
have the meanings assigned in the Pooling and Servicing Agreement.

            This Certificate is one of a duly authorized issue of Certificates
designated as Certificates of the series specified on the face hereof (herein
called the "Certificates") and representing an interest in the Class of
Certificates specified on the face hereof equal to the quotient expressed as a
percentage obtained by dividing the Certificate Balance of this Certificate
specified on the face hereof by the aggregate initial Certificate Balance of the
Class D Certificates. The Certificates are designated as the Morgan Stanley Dean
Witter Capital I Inc., Commercial Mortgage Pass-Through Certificates, Series
2002-IQ2 and are issued in the Classes specified in the Pooling and Servicing
Agreement. The Certificates will evidence in the aggregate 100% of the
beneficial ownership of the Trust.

            This Certificate does not purport to summarize the Pooling and
Servicing Agreement and reference is made to that Agreement for information with
respect to the interests, rights, benefits, obligations, proceeds, and duties
evidenced hereby and the rights, duties and obligations of the Trustee and the
Paying Agent. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Pooling and Servicing Agreement, to which
Pooling and Servicing Agreement, as amended from time to time, the
Certificateholder by virtue of the acceptance hereof assents and by which the
Certificateholder is bound. In the case of any conflict between terms specified
in this Certificate and terms specified in the Pooling and Servicing Agreement,
the terms of the Pooling and Servicing Agreement shall govern.

            Distributions of principal of and interest on this Certificate will
be made out of the Available Distribution Amount, to the extent and subject to
the limitations set forth in the Pooling and Servicing Agreement, on the 15th
day of each month or, if such 15th day is not a Business Day, the next
succeeding Business Day (a "Distribution Date") commencing on the first
Distribution Date specified above, to the Person in whose name this Certificate
is registered at the close of business on the last Business Day of the month
immediately preceding the month of such distribution (the "Record Date"). All
sums distributable on this Certificate are payable in the coin or currency of
the United States of America as at the time of payment is legal tender for the
payment of public and private debts.

            Interest on this Certificate will accrue (computed as if each year
consisted of 360 days and each month consisted of 30 days) during the Interest
Accrual Period relating to such Distribution Date at the Pass-Through Rate on
the Certificate Balance of this Certificate immediately prior to each
Distribution Date. Principal and interest allocated to this Certificate on any
Distribution Date will be in an amount due to this Certificate's pro rata share
of the amount to be distributed on the Certificates of this Class as of such
Distribution Date, with a final distribution to be made upon retirement of this
Certificate as set forth in the Pooling and Servicing Agreement.

            Unless the certificate of authentication hereon has been executed by
the Authenticating Agent, by manual signature, this Certificate shall not be
entitled to any benefit under the Pooling and Servicing Agreement or be valid
for any purpose.

            Realized Losses, Expense Losses and interest shortfalls on the
Mortgage Loans shall be allocated on the applicable Distribution Date to
Certificateholders in the manner set forth in the Pooling and Servicing
Agreement. All Realized Losses, Expense Losses and interest shortfalls on the
Mortgage Loans allocated to any Class of Certificates will be allocated pro rata
among the outstanding Certificates of such Class.

            The Certificates are limited in right of payment to certain
collections and recoveries respecting the Mortgage Loans, all as more
specifically set forth in the Pooling and Servicing Agreement. As provided in
the Pooling and Servicing Agreement, withdrawals from the Certificate Account
shall be made from time to time for purposes other than distributions to
Certificateholders, such purposes including reimbursement of certain expenses
incurred with respect to the servicing of the Mortgage Loans and administration
of the Trust.

            All distributions under the Pooling and Servicing Agreement to a
nominee of The Depository Trust Company ("DTC") will be made by or on behalf of
the Paying Agent by wire transfer in immediately available funds to an account
specified in the request of such Certificateholder. All distributions under the
Pooling and Servicing Agreement to Certificateholders will be made by wire
transfer in immediately available funds to the account specified by the
Certificateholder, at a bank or other entity having appropriate facilities
therefor, if such Certificateholder will have provided the Paying Agent with
wiring instructions on or prior to the related Record Date or otherwise by check
mailed to such Certificateholder. Notwithstanding the above, the final
distribution on any Certificate will be made only upon presentation and
surrender of such Certificate at the location that will be specified in a notice
of the pendency of such final distribution.

            The Pooling and Servicing Agreement permits, with certain exceptions
therein provided, the amendment thereof and the modification of the rights and
obligations of the Certificateholders under the Pooling and Servicing Agreement
at any time by the parties thereto with the consent of the Holders of not less
than 51% of the Aggregate Certificate Balance of the Certificates then
outstanding, as specified in the Pooling and Servicing Agreement. Any such
consent by the Holder of this Certificate shall be conclusive and binding on
such Holder and upon all future Holders of this Certificate and of any
Certificate issued upon the transfer hereof or in exchange herefor or in lieu
hereof whether or not notation of such consent is made upon the Certificate. The
Pooling and Servicing Agreement also permits the amendment thereof, in certain
circumstances, without the consent of the Holders of any of the Certificates.

            As provided in the Pooling and Servicing Agreement and subject to
certain limitations therein set forth, the transfer of this Certificate is
registrable in the Certificate Register upon surrender of this Certificate for
registration of transfer at the Corporate Trust Office of the Certificate
Registrar, duly endorsed by, or accompanied by an assignment in the form below
or other written instrument of transfer in form satisfactory to the Certificate
Registrar duly executed by the Holder hereof or such Holder's attorney duly
authorized in writing, and thereupon one or more new Certificates of the same
Class in authorized denominations will be issued to the designated transferee or
transferees.

            Subject to the terms of the Pooling and Servicing Agreement, the
Certificates are issuable in fully registered form only, without coupons, in
minimum denominations specified in the Pooling and Servicing Agreement.

            As provided in the Pooling and Servicing Agreement and subject to
certain limitations therein set forth, Certificates are exchangeable for new
Certificates of the same Class in authorized denominations as requested by the
Holder surrendering the same. No service charge will be made for any such
registration of transfer or exchange but the Certificate Registrar may require
payment of a sum sufficient to cover any tax or other governmental charge that
may be imposed in connection with any transfer or exchange of Certificates.

            Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book entry facilities of DTC.

            The Depositor, the Trustee, the Fiscal Agent, the Paying Agent, the
Master Servicer, the Special Servicer and the Certificate Registrar and any of
their agents may treat the Person in whose name this Certificate is registered
as the owner hereof for all purposes, and neither the Depositor, the Trustee,
the Fiscal Agent, the Paying Agent, the Master Servicer, the Special Servicer,
the Certificate Registrar nor any such agents shall be affected by notice to the
contrary.

            The obligations and responsibilities of the Trustee and the Paying
Agent created hereby (other than the obligation of the Paying Agent to make
payments to the Certificateholders as set forth in Section 10.2 of the Pooling
and Servicing Agreement and other than the obligations in the nature of
information or tax reporting) shall terminate on the earliest of (i) the later
of (A) the final payment or other liquidation of the last Mortgage Loan
remaining in the Trust and (B) the disposition of all REO Property or (ii) the
sale of the property held by the Trust in accordance with Section 10.1(b) of the
Pooling and Servicing Agreement or (iii) the termination of the Trust pursuant
to Section 10.1(c) of the Pooling and Servicing Agreement; provided that in no
event shall the Trust continue beyond the expiration of 21 years from the death
of the last survivor of the descendants of Joseph P. Kennedy, the late
Ambassador of the United States to the Court of St. James, living on the date
hereof. The parties designated in the Pooling and Servicing Agreement may
exercise their option to purchase the Mortgage Loans and any other property
remaining in the Trust and cause the termination of the Trust in accordance with
the requirements set forth in the Pooling and Servicing Agreement. Upon
termination of the Trust and payment of the Certificates and of all
administrative expenses associated with the Trust, any remaining assets of the
Trust shall be distributed to the holders of the Residual Certificates.

            The Certificate Registrar has executed this Certificate under the
Pooling and Servicing Agreement.

            THIS CERTIFICATE AND THE POOLING AND SERVICING AGREEMENT SHALL BE
CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK
WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

<PAGE>

            IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed under this official seal.

                                        LASALLE BANK NATIONAL
                                           ASSOCIATION, as Certificate Registrar

                                        By:_____________________________________
                                                   AUTHORIZED SIGNATORY

Dated: June 27, 2002

                          CERTIFICATE OF AUTHENTICATION

            THIS IS ONE OF THE CLASS D CERTIFICATES REFERRED TO IN THE
WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

                                        LASALLE BANK NATIONAL
                                           ASSOCIATION,
                                           AUTHENTICATING AGENT

                                        By:_____________________________________
                                                   AUTHORIZED SIGNATORY

<PAGE>

                                  ABBREVIATIONS

The following abbreviations, when used in the inscription on the face of this
Certificate, shall be construed as though they were written out in full
according to applicable laws or regulations:

TEN COM - as tenant in common            UNIF GIFT MIN ACT.............Custodian
                                                             (Cust)
TEN ENT - as tenants by the entireties
                                              Under Uniform Gifts to Minors
JT TEN  - as joint tenants with
          rights of survivorship and
          not as tenants in common                Act..................
                                                         (State)

     Additional abbreviations may also be used though not in the above list.

                                FORM OF TRANSFER

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto

________________________________________________________________________________

____________________________________            PLEASE INSERT SOCIAL SECURITY OR
                                                OTHER IDENTIFYING NUMBER OF
____________________________________            ASSIGNEE

________________________________________________________________________________
             Please print or typewrite name and address of assignee

________________________________________________________________________________
the within Certificate and does hereby or irrevocably constitute and appoint

________________________________________________________________________________
to transfer the said Certificate in the Certificate Register of the within-named
Trust, with full power of substitution in the premises.

Dated:_________________________     ____________________________________________
                                    NOTICE: The signature to this assignment
                                    must correspond with the name as written
                                    upon the face of this Certificate in every
                                    particular without alteration or enlargement
                                    or any change whatever.

________________________________________
SIGNATURE GUARANTEED
The signature must be guaranteed by a
commercial bank or trust company or by a
member firm of the New York Stock
Exchange or another national securities
exchange. Notarized or witnessed
signatures are not acceptable.

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

            The assignee should include the following for purposes of
distribution:

            Distributions shall be made, by wire transfer or otherwise, in
immediately available funds to _____________ for the account of ________________
account number ______________ or, if mailed by check, to ______________________.
Statements should be mailed to ____________________. This information is
provided by assignee named above, or ______________________, as its agent.

<PAGE>

                     [TO BE ATTACHED TO GLOBAL CERTIFICATES]

                  SCHEDULE OF EXCHANGES OF GLOBAL CERTIFICATES

The following exchanges of a part of this Global Certificate have been made:

<PAGE>

                                   EXHIBIT A-8

                          [FORM OF CLASS E CERTIFICATE]

THIS CLASS E CERTIFICATE DOES NOT CONSTITUTE AN OBLIGATION OF OR AN INTEREST IN
THE SELLERS, THE DEPOSITOR, THE INITIAL PURCHASER, THE TRUSTEE, THE FISCAL
AGENT, THE CERTIFICATE REGISTRAR, THE PAYING AGENT, THE MASTER SERVICER, THE
SPECIAL SERVICER, THE PRIMARY SERVICERS OR ANY OF THEIR RESPECTIVE AFFILIATES,
AND WILL NOT BE INSURED OR GUARANTEED BY ANY SUCH ENTITY OR BY ANY GOVERNMENTAL
AGENCY.

THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED OR QUALIFIED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR THE SECURITIES
LAWS OF ANY STATE. ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE
WITHOUT SUCH REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION
WHICH DOES NOT REQUIRE SUCH REGISTRATION OR QUALIFICATION AND WHICH IS IN
ACCORDANCE WITH THE PROVISIONS OF SECTION 3.3 OF THE POOLING AND SERVICING
AGREEMENT REFERRED TO HEREIN.

THE INITIAL CERTIFICATE BALANCE HEREOF IS AS SET FORTH HEREIN, REDUCED OR
INCREASED AS SET FORTH IN THE SCHEDULE OF EXCHANGES ATTACHED HERETO.

THIS CLASS E CERTIFICATE IS SUBORDINATED IN RIGHT OF PAYMENT TO CERTAIN OTHER
CLASSES OF CERTIFICATES OF THIS SERIES TO THE EXTENT DESCRIBED IN THE POOLING
AND SERVICING AGREEMENT REFERRED TO HEREIN.

THE PORTION OF THE CERTIFICATE BALANCE OF THE CERTIFICATES EVIDENCED BY THIS
CERTIFICATE WILL BE DECREASED BY THE PORTION OF PRINCIPAL DISTRIBUTIONS,
REALIZED LOSSES AND CERTAIN EXPENSE LOSSES ON THE CERTIFICATES ALLOCABLE TO THIS
CLASS E CERTIFICATE. ACCORDINGLY, THE CERTIFICATE BALANCE OF THIS CERTIFICATE
MAY BE LESS THAN THAT SET FORTH BELOW. ANYONE ACQUIRING THIS CERTIFICATE MAY
ASCERTAIN ITS CURRENT CERTIFICATE BALANCE BY INQUIRY OF THE PAYING AGENT.

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO THE CERTIFICATE
REGISTRAR OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND
ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER
NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
HEREON IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED
OWNER HEREOF, CEDE & CO. HAS AN INTEREST HEREIN.

THIS CERTIFICATE REPRESENTS A "REGULAR INTEREST" IN A "REAL ESTATE MORTGAGE
INVESTMENT CONDUIT," AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G
AND 860d OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE").

[THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED
STATES SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT") AND, PRIOR TO
THE DATE THAT IS 40 DAYS AFTER THE OFFERING OF THE CERTIFICATES, MAY NOT BE
OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED IN THE UNITED STATES OR TO A
U.S. PERSON EXCEPT PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS
OF THE SECURITIES ACT.](1)

----------
(1)   For Reg S Book-Entry Certificates only

<PAGE>

                    MORGAN STANLEY DEAN WITTER CAPITAL I INC.
                 COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES,
                                 SERIES 2002-IQ2

INITIAL PASS-THROUGH RATE:  6.78%         MASTER SERVICER:  ORIX CAPITAL
                                          MARKETS, LLC

DATE OF POOLING AND SERVICING             SPECIAL SERVICER:  LEND LEASE ASSET
AGREEMENT:  AS OF JUNE 1, 2002            MANAGEMENT, L.P.

CUT-OFF DATE:  JUNE 1, 2002               PAYING AGENT: LASALLE BANK NATIONAL
                                          ASSOCIATION

CLOSING DATE: JUNE 27, 2002

FIRST DISTRIBUTION DATE: JULY 15, 2002    TRUSTEE:  LASALLE BANK NATIONAL
                                          ASSOCIATION

AGGREGATE CERTIFICATE BALANCE OF THE      FISCAL AGENT: ABN AMRO BANK N.V.
CLASS E CERTIFICATES AS OF THE CLOSING
DATE: $7,786,000

CERTIFICATE BALANCE OF THIS CLASS E       CUSIP NO. [__________]
CERTIFICATE AS OF THE CLOSING DATE:
$[__________] (SUBJECT TO SCHEDULE OF
EXCHANGES ATTACHED)

No. E-1

                               CLASS E CERTIFICATE

evidencing a beneficial ownership interest in a Trust, consisting primarily of a
pool of commercial and multifamily mortgage loans (the "Mortgage Loans") and
certain other property, formed and sold by

                    MORGAN STANLEY DEAN WITTER CAPITAL I INC.

            THIS CERTIFIES THAT CEDE & CO. is the registered owner of the
interest evidenced by this Certificate in the Class E Certificates issued by the
Trust created pursuant to the Pooling and Servicing Agreement, dated as
specified above (the "Pooling and Servicing Agreement"), among Morgan Stanley
Dean Witter Capital I Inc. (hereinafter called the "Depositor", which term
includes any successor entity under the Pooling and Servicing Agreement), the
Trustee, the Fiscal Agent, the Paying Agent, the Certificate Registrar, the
Master Servicer and the Special Servicer, a summary of certain of the pertinent
provisions of which is set forth hereafter. The Trust consists primarily of the
Mortgage Loans, such amounts as shall from time to time be held in the
Certificate Account and Distribution Account, the Insurance Policies and any REO
Properties. To the extent not defined herein, the capitalized terms used herein
have the meanings assigned in the Pooling and Servicing Agreement.

            This Certificate is one of a duly authorized issue of Certificates
designated as Certificates of the series specified on the face hereof (herein
called the "Certificates") and representing an interest in the Class of
Certificates specified on the face hereof equal to the quotient expressed as a
percentage obtained by dividing the Certificate Balance of this Certificate
specified on the face hereof by the aggregate initial Certificate Balance of the
Class E Certificates. The Certificates are designated as the Morgan Stanley Dean
Witter Capital I Inc., Commercial Mortgage Pass-Through Certificates, Series
2002-IQ2 and are issued in the Classes specified in the Pooling and Servicing
Agreement. The Certificates will evidence in the aggregate 100% of the
beneficial ownership of the Trust.

            This Certificate does not purport to summarize the Pooling and
Servicing Agreement and reference is made to that Agreement for information with
respect to the interests, rights, benefits, obligations, proceeds, and duties
evidenced hereby and the rights, duties and obligations of the Trustee and the
Paying Agent. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Pooling and Servicing Agreement, to which
Pooling and Servicing Agreement, as amended from time to time, the
Certificateholder by virtue of the acceptance hereof assents and by which the
Certificateholder is bound. In the case of any conflict between terms specified
in this Certificate and terms specified in the Pooling and Servicing Agreement,
the terms of the Pooling and Servicing Agreement shall govern.

            Distributions of principal of and interest on this Certificate will
be made out of the Available Distribution Amount, to the extent and subject to
the limitations set forth in the Pooling and Servicing Agreement, on the 15th
day of each month or, if such 15th day is not a Business Day, the next
succeeding Business Day (a "Distribution Date") commencing on the first
Distribution Date specified above, to the Person in whose name this Certificate
is registered at the close of business on the last Business Day of the month
immediately preceding the month of such distribution (the "Record Date"). All
sums distributable on this Certificate are payable in the coin or currency of
the United States of America as at the time of payment is legal tender for the
payment of public and private debts.

            Interest on this Certificate will accrue (computed as if each year
consisted of 360 days and each month consisted of 30 days) during the Interest
Accrual Period relating to such Distribution Date at the Pass-Through Rate on
the Certificate Balance of this Certificate immediately prior to each
Distribution Date. Principal and interest allocated to this Certificate on any
Distribution Date will be in an amount due to this Certificate's pro rata share
of the amount to be distributed on the Certificates of this Class as of such
Distribution Date, with a final distribution to be made upon retirement of this
Certificate as set forth in the Pooling and Servicing Agreement.

            Unless the certificate of authentication hereon has been executed by
the Authenticating Agent, by manual signature, this Certificate shall not be
entitled to any benefit under the Pooling and Servicing Agreement or be valid
for any purpose.

            Realized Losses, Expense Losses and interest shortfalls on the
Mortgage Loans shall be allocated on the applicable Distribution Date to
Certificateholders in the manner set forth in the Pooling and Servicing
Agreement. All Realized Losses, Expense Losses and interest shortfalls on the
Mortgage Loans allocated to any Class of Certificates will be allocated pro rata
among the outstanding Certificates of such Class.

            The Certificates are limited in right of payment to certain
collections and recoveries respecting the Mortgage Loans, all as more
specifically set forth in the Pooling and Servicing Agreement. As provided in
the Pooling and Servicing Agreement, withdrawals from the Certificate Account
shall be made from time to time for purposes other than distributions to
Certificateholders, such purposes including reimbursement of certain expenses
incurred with respect to the servicing of the Mortgage Loans and administration
of the Trust.

            All distributions under the Pooling and Servicing Agreement to a
nominee of The Depository Trust Company ("DTC") will be made by or on behalf of
the Paying Agent by wire transfer in immediately available funds to an account
specified in the request of such Certificateholder. All distributions under the
Pooling and Servicing Agreement to Certificateholders will be made by wire
transfer in immediately available funds to the account specified by the
Certificateholder, at a bank or other entity having appropriate facilities
therefor, if such Certificateholder will have provided the Paying Agent with
wiring instructions on or prior to the related Record Date or otherwise by check
mailed to such Certificateholder. Notwithstanding the above, the final
distribution on any Certificate will be made only upon presentation and
surrender of such Certificate at the location that will be specified in a notice
of the pendency of such final distribution.

            The Pooling and Servicing Agreement permits, with certain exceptions
therein provided, the amendment thereof and the modification of the rights and
obligations of the Certificateholders under the Pooling and Servicing Agreement
at any time by the parties thereto with the consent of the Holders of not less
than 51% of the Aggregate Certificate Balance of the Certificates then
outstanding, as specified in the Pooling and Servicing Agreement. Any such
consent by the Holder of this Certificate shall be conclusive and binding on
such Holder and upon all future Holders of this Certificate and of any
Certificate issued upon the transfer hereof or in exchange herefor or in lieu
hereof whether or not notation of such consent is made upon the Certificate. The
Pooling and Servicing Agreement also permits the amendment thereof, in certain
circumstances, without the consent of the Holders of any of the Certificates.

            As provided in the Pooling and Servicing Agreement and subject to
certain limitations therein set forth, the transfer of this Certificate is
registrable in the Certificate Register upon surrender of this Certificate for
registration of transfer at the Corporate Trust Office of the Certificate
Registrar, duly endorsed by, or accompanied by an assignment in the form below
or other written instrument of transfer in form satisfactory to the Certificate
Registrar duly executed by the Holder hereof or such Holder's attorney duly
authorized in writing, and thereupon one or more new Certificates of the same
Class in authorized denominations will be issued to the designated transferee or
transferees.

            Subject to the terms of the Pooling and Servicing Agreement, the
Certificates are issuable in fully registered form only, without coupons, in
minimum denominations specified in the Pooling and Servicing Agreement.

            As provided in the Pooling and Servicing Agreement and subject to
certain limitations therein set forth, Certificates are exchangeable for new
Certificates of the same Class in authorized denominations as requested by the
Holder surrendering the same. No service charge will be made for any such
registration of transfer or exchange but the Certificate Registrar may require
payment of a sum sufficient to cover any tax or other governmental charge that
may be imposed in connection with any transfer or exchange of Certificates.

            Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book entry facilities of DTC.

            The Depositor, the Trustee, the Fiscal Agent, the Paying Agent, the
Master Servicer, the Special Servicer and the Certificate Registrar and any of
their agents may treat the Person in whose name this Certificate is registered
as the owner hereof for all purposes, and neither the Depositor, the Trustee,
the Fiscal Agent, the Paying Agent, the Master Servicer, the Special Servicer,
the Certificate Registrar nor any such agents shall be affected by notice to the
contrary.

            The obligations and responsibilities of the Trustee and the Paying
Agent created hereby (other than the obligation of the Paying Agent to make
payments to the Certificateholders as set forth in Section 10.2 of the Pooling
and Servicing Agreement and other than the obligations in the nature of
information or tax reporting) shall terminate on the earliest of (i) the later
of (A) the final payment or other liquidation of the last Mortgage Loan
remaining in the Trust and (B) the disposition of all REO Property or (ii) the
sale of the property held by the Trust in accordance with Section 10.1(b) of the
Pooling and Servicing Agreement or (iii) the termination of the Trust pursuant
to Section 10.1(c) of the Pooling and Servicing Agreement; provided that in no
event shall the Trust continue beyond the expiration of 21 years from the death
of the last survivor of the descendants of Joseph P. Kennedy, the late
Ambassador of the United States to the Court of St. James, living on the date
hereof. The parties designated in the Pooling and Servicing Agreement may
exercise their option to purchase the Mortgage Loans and any other property
remaining in the Trust and cause the termination of the Trust in accordance with
the requirements set forth in the Pooling and Servicing Agreement. Upon
termination of the Trust and payment of the Certificates and of all
administrative expenses associated with the Trust, any remaining assets of the
Trust shall be distributed to the holders of the Residual Certificates.

            The Certificate Registrar has executed this Certificate under the
Pooling and Servicing Agreement.

            THIS CERTIFICATE AND THE POOLING AND SERVICING AGREEMENT SHALL BE
CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK
WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

<PAGE>

            IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed under this official seal.

                                        LASALLE BANK NATIONAL
                                           ASSOCIATION, as Certificate Registrar

                                        By:_____________________________________
                                                   AUTHORIZED SIGNATORY

Dated: June 27, 2002

                          CERTIFICATE OF AUTHENTICATION

            THIS IS ONE OF THE CLASS E CERTIFICATES REFERRED TO IN THE
WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

                                        LASALLE BANK NATIONAL
                                           ASSOCIATION,
                                           AUTHENTICATING AGENT

                                        By:_____________________________________
                                                   AUTHORIZED SIGNATORY

<PAGE>

                                  ABBREVIATIONS

The following abbreviations, when used in the inscription on the face of this
Certificate, shall be construed as though they were written out in full
according to applicable laws or regulations:

TEN COM - as tenant in common            UNIF GIFT MIN ACT.............Custodian
                                                             (Cust)
TEN ENT - as tenants by the entireties
                                              Under Uniform Gifts to Minors
JT TEN  - as joint tenants with
          rights of survivorship and
          not as tenants in common                Act..................
                                                         (State)

     Additional abbreviations may also be used though not in the above list.

                                FORM OF TRANSFER

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto

________________________________________________________________________________

____________________________________            PLEASE INSERT SOCIAL SECURITY OR
                                                OTHER IDENTIFYING NUMBER OF
____________________________________            ASSIGNEE

________________________________________________________________________________
             Please print or typewrite name and address of assignee

________________________________________________________________________________
the within Certificate and does hereby or irrevocably constitute and appoint

________________________________________________________________________________
to transfer the said Certificate in the Certificate Register of the within-named
Trust, with full power of substitution in the premises.

Dated:_________________________     ____________________________________________
                                    NOTICE: The signature to this assignment
                                    must correspond with the name as written
                                    upon the face of this Certificate in every
                                    particular without alteration or enlargement
                                    or any change whatever.

________________________________________
SIGNATURE GUARANTEED
The signature must be guaranteed by a
commercial bank or trust company or by a
member firm of the New York Stock
Exchange or another national securities
exchange. Notarized or witnessed
signatures are not acceptable.

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

            The assignee should include the following for purposes of
distribution:

            Distributions shall be made, by wire transfer or otherwise, in
immediately available funds to _____________ for the account of ________________
account number ______________ or, if mailed by check, to ______________________.
Statements should be mailed to ____________________. This information is
provided by assignee named above, or ______________________, as its agent.

<PAGE>

                     [TO BE ATTACHED TO GLOBAL CERTIFICATES]

                  SCHEDULE OF EXCHANGES OF GLOBAL CERTIFICATES

The following exchanges of a part of this Global Certificate have been made:

<PAGE>

                                   EXHIBIT A-9

                          [FORM OF CLASS F CERTIFICATE]

THIS CLASS F CERTIFICATE DOES NOT CONSTITUTE AN OBLIGATION OF OR AN INTEREST IN
THE SELLERS, THE DEPOSITOR, THE INITIAL PURCHASER, THE TRUSTEE, THE FISCAL
AGENT, THE CERTIFICATE REGISTRAR, THE PAYING AGENT, THE MASTER SERVICER, THE
SPECIAL SERVICER, THE PRIMARY SERVICERS OR ANY OF THEIR RESPECTIVE AFFILIATES,
AND WILL NOT BE INSURED OR GUARANTEED BY ANY SUCH ENTITY OR BY ANY GOVERNMENTAL
AGENCY.

THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED OR QUALIFIED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR THE SECURITIES
LAWS OF ANY STATE. ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE
WITHOUT SUCH REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION
WHICH DOES NOT REQUIRE SUCH REGISTRATION OR QUALIFICATION AND WHICH IS IN
ACCORDANCE WITH THE PROVISIONS OF SECTION 3.3 OF THE POOLING AND SERVICING
AGREEMENT REFERRED TO HEREIN.

THE INITIAL CERTIFICATE BALANCE HEREOF IS AS SET FORTH HEREIN, REDUCED OR
INCREASED AS SET FORTH IN THE SCHEDULE OF EXCHANGES ATTACHED HERETO.

THIS CLASS F CERTIFICATE IS SUBORDINATED IN RIGHT OF PAYMENT TO CERTAIN OTHER
CLASSES OF CERTIFICATES OF THIS SERIES TO THE EXTENT DESCRIBED IN THE POOLING
AND SERVICING AGREEMENT REFERRED TO HEREIN.

THE PORTION OF THE CERTIFICATE BALANCE OF THE CERTIFICATES EVIDENCED BY THIS
CERTIFICATE WILL BE DECREASED BY THE PORTION OF PRINCIPAL DISTRIBUTIONS,
REALIZED LOSSES AND CERTAIN EXPENSE LOSSES ON THE CERTIFICATES ALLOCABLE TO THIS
CLASS F CERTIFICATE. ACCORDINGLY, THE CERTIFICATE BALANCE OF THIS CERTIFICATE
MAY BE LESS THAN THAT SET FORTH BELOW. ANYONE ACQUIRING THIS CERTIFICATE MAY
ASCERTAIN ITS CURRENT CERTIFICATE BALANCE BY INQUIRY OF THE PAYING AGENT.

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO THE CERTIFICATE
REGISTRAR OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND
ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER
NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
HEREON IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED
OWNER HEREOF, CEDE & CO. HAS AN INTEREST HEREIN.

THIS CERTIFICATE REPRESENTS A "REGULAR INTEREST" IN A "REAL ESTATE MORTGAGE
INVESTMENT CONDUIT," AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G
AND 860d OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE").

[THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED
STATES SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT") AND, PRIOR TO
THE DATE THAT IS 40 DAYS AFTER THE OFFERING OF THE CERTIFICATES, MAY NOT BE
OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED IN THE UNITED STATES OR TO A
U.S. PERSON EXCEPT PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS
OF THE SECURITIES ACT.](1)

----------
(1)   For Reg S Book-Entry Certificates only

<PAGE>

                    MORGAN STANLEY DEAN WITTER CAPITAL I INC.
                 COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES,
                                 SERIES 2002-IQ2

INITIAL PASS-THROUGH RATE:  6.97%         MASTER SERVICER:  ORIX CAPITAL
                                          MARKETS, LLC

DATE OF POOLING AND SERVICING             SPECIAL SERVICER:  LEND LEASE ASSET
AGREEMENT:  AS OF JUNE 1, 2002            MANAGEMENT, L.P.

CUT-OFF DATE:  JUNE 1, 2002               PAYING AGENT: LASALLE BANK NATIONAL
                                          ASSOCIATION

CLOSING DATE: JUNE 27, 2002

FIRST DISTRIBUTION DATE: JULY 15, 2002    TRUSTEE:  LASALLE BANK NATIONAL
                                          ASSOCIATION

AGGREGATE CERTIFICATE BALANCE OF THE      FISCAL AGENT: ABN AMRO BANK N.V.
CLASS F CERTIFICATES AS OF THE CLOSING
DATE: $7,785,000

CERTIFICATE BALANCE OF THIS CLASS F       CUSIP NO. [__________]
CERTIFICATE AS OF THE CLOSING DATE:
$[__________] (SUBJECT TO SCHEDULE OF
EXCHANGES ATTACHED)

No. F-1

                               CLASS F CERTIFICATE

evidencing a beneficial ownership interest in a Trust, consisting primarily of a
pool of commercial and multifamily mortgage loans (the "Mortgage Loans") and
certain other property, formed and sold by

                    MORGAN STANLEY DEAN WITTER CAPITAL I INC.

            THIS CERTIFIES THAT CEDE & CO. is the registered owner of the
interest evidenced by this Certificate in the Class F Certificates issued by the
Trust created pursuant to the Pooling and Servicing Agreement, dated as
specified above (the "Pooling and Servicing Agreement"), among Morgan Stanley
Dean Witter Capital I Inc. (hereinafter called the "Depositor", which term
includes any successor entity under the Pooling and Servicing Agreement), the
Trustee, the Fiscal Agent, the Paying Agent, the Certificate Registrar, the
Master Servicer and the Special Servicer, a summary of certain of the pertinent
provisions of which is set forth hereafter. The Trust consists primarily of the
Mortgage Loans, such amounts as shall from time to time be held in the
Certificate Account and Distribution Account, the Insurance Policies and any REO
Properties. To the extent not defined herein, the capitalized terms used herein
have the meanings assigned in the Pooling and Servicing Agreement.

            This Certificate is one of a duly authorized issue of Certificates
designated as Certificates of the series specified on the face hereof (herein
called the "Certificates") and representing an interest in the Class of
Certificates specified on the face hereof equal to the quotient expressed as a
percentage obtained by dividing the Certificate Balance of this Certificate
specified on the face hereof by the aggregate initial Certificate Balance of the
Class F Certificates. The Certificates are designated as the Morgan Stanley Dean
Witter Capital I Inc., Commercial Mortgage Pass-Through Certificates, Series
2002-IQ2 and are issued in the Classes specified in the Pooling and Servicing
Agreement. The Certificates will evidence in the aggregate 100% of the
beneficial ownership of the Trust.

            This Certificate does not purport to summarize the Pooling and
Servicing Agreement and reference is made to that Agreement for information with
respect to the interests, rights, benefits, obligations, proceeds, and duties
evidenced hereby and the rights, duties and obligations of the Trustee and the
Paying Agent. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Pooling and Servicing Agreement, to which
Pooling and Servicing Agreement, as amended from time to time, the
Certificateholder by virtue of the acceptance hereof assents and by which the
Certificateholder is bound. In the case of any conflict between terms specified
in this Certificate and terms specified in the Pooling and Servicing Agreement,
the terms of the Pooling and Servicing Agreement shall govern.

            Distributions of principal of and interest on this Certificate will
be made out of the Available Distribution Amount, to the extent and subject to
the limitations set forth in the Pooling and Servicing Agreement, on the 15th
day of each month or, if such 15th day is not a Business Day, the next
succeeding Business Day (a "Distribution Date") commencing on the first
Distribution Date specified above, to the Person in whose name this Certificate
is registered at the close of business on the last Business Day of the month
immediately preceding the month of such distribution (the "Record Date"). All
sums distributable on this Certificate are payable in the coin or currency of
the United States of America as at the time of payment is legal tender for the
payment of public and private debts.

            Interest on this Certificate will accrue (computed as if each year
consisted of 360 days and each month consisted of 30 days) during the Interest
Accrual Period relating to such Distribution Date at the Pass-Through Rate on
the Certificate Balance of this Certificate immediately prior to each
Distribution Date. Principal and interest allocated to this Certificate on any
Distribution Date will be in an amount due to this Certificate's pro rata share
of the amount to be distributed on the Certificates of this Class as of such
Distribution Date, with a final distribution to be made upon retirement of this
Certificate as set forth in the Pooling and Servicing Agreement.

            Unless the certificate of authentication hereon has been executed by
the Authenticating Agent, by manual signature, this Certificate shall not be
entitled to any benefit under the Pooling and Servicing Agreement or be valid
for any purpose.

            Realized Losses, Expense Losses and interest shortfalls on the
Mortgage Loans shall be allocated on the applicable Distribution Date to
Certificateholders in the manner set forth in the Pooling and Servicing
Agreement. All Realized Losses, Expense Losses and interest shortfalls on the
Mortgage Loans allocated to any Class of Certificates will be allocated pro rata
among the outstanding Certificates of such Class.

            The Certificates are limited in right of payment to certain
collections and recoveries respecting the Mortgage Loans, all as more
specifically set forth in the Pooling and Servicing Agreement. As provided in
the Pooling and Servicing Agreement, withdrawals from the Certificate Account
shall be made from time to time for purposes other than distributions to
Certificateholders, such purposes including reimbursement of certain expenses
incurred with respect to the servicing of the Mortgage Loans and administration
of the Trust.

            All distributions under the Pooling and Servicing Agreement to a
nominee of The Depository Trust Company ("DTC") will be made by or on behalf of
the Paying Agent by wire transfer in immediately available funds to an account
specified in the request of such Certificateholder. All distributions under the
Pooling and Servicing Agreement to Certificateholders will be made by wire
transfer in immediately available funds to the account specified by the
Certificateholder, at a bank or other entity having appropriate facilities
therefor, if such Certificateholder will have provided the Paying Agent with
wiring instructions on or prior to the related Record Date or otherwise by check
mailed to such Certificateholder. Notwithstanding the above, the final
distribution on any Certificate will be made only upon presentation and
surrender of such Certificate at the location that will be specified in a notice
of the pendency of such final distribution.

            The Pooling and Servicing Agreement permits, with certain exceptions
therein provided, the amendment thereof and the modification of the rights and
obligations of the Certificateholders under the Pooling and Servicing Agreement
at any time by the parties thereto with the consent of the Holders of not less
than 51% of the Aggregate Certificate Balance of the Certificates then
outstanding, as specified in the Pooling and Servicing Agreement. Any such
consent by the Holder of this Certificate shall be conclusive and binding on
such Holder and upon all future Holders of this Certificate and of any
Certificate issued upon the transfer hereof or in exchange herefor or in lieu
hereof whether or not notation of such consent is made upon the Certificate. The
Pooling and Servicing Agreement also permits the amendment thereof, in certain
circumstances, without the consent of the Holders of any of the Certificates.

            As provided in the Pooling and Servicing Agreement and subject to
certain limitations therein set forth, the transfer of this Certificate is
registrable in the Certificate Register upon surrender of this Certificate for
registration of transfer at the Corporate Trust Office of the Certificate
Registrar, duly endorsed by, or accompanied by an assignment in the form below
or other written instrument of transfer in form satisfactory to the Certificate
Registrar duly executed by the Holder hereof or such Holder's attorney duly
authorized in writing, and thereupon one or more new Certificates of the same
Class in authorized denominations will be issued to the designated transferee or
transferees.

            Subject to the terms of the Pooling and Servicing Agreement, the
Certificates are issuable in fully registered form only, without coupons, in
minimum denominations specified in the Pooling and Servicing Agreement.

            As provided in the Pooling and Servicing Agreement and subject to
certain limitations therein set forth, Certificates are exchangeable for new
Certificates of the same Class in authorized denominations as requested by the
Holder surrendering the same. No service charge will be made for any such
registration of transfer or exchange but the Certificate Registrar may require
payment of a sum sufficient to cover any tax or other governmental charge that
may be imposed in connection with any transfer or exchange of Certificates.

            Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book entry facilities of DTC.

            The Depositor, the Trustee, the Fiscal Agent, the Paying Agent, the
Master Servicer, the Special Servicer and the Certificate Registrar and any of
their agents may treat the Person in whose name this Certificate is registered
as the owner hereof for all purposes, and neither the Depositor, the Trustee,
the Fiscal Agent, the Paying Agent, the Master Servicer, the Special Servicer,
the Certificate Registrar nor any such agents shall be affected by notice to the
contrary.

            The obligations and responsibilities of the Trustee and the Paying
Agent created hereby (other than the obligation of the Paying Agent to make
payments to the Certificateholders as set forth in Section 10.2 of the Pooling
and Servicing Agreement and other than the obligations in the nature of
information or tax reporting) shall terminate on the earliest of (i) the later
of (A) the final payment or other liquidation of the last Mortgage Loan
remaining in the Trust and (B) the disposition of all REO Property or (ii) the
sale of the property held by the Trust in accordance with Section 10.1(b) of the
Pooling and Servicing Agreement or (iii) the termination of the Trust pursuant
to Section 10.1(c) of the Pooling and Servicing Agreement; provided that in no
event shall the Trust continue beyond the expiration of 21 years from the death
of the last survivor of the descendants of Joseph P. Kennedy, the late
Ambassador of the United States to the Court of St. James, living on the date
hereof. The parties designated in the Pooling and Servicing Agreement may
exercise their option to purchase the Mortgage Loans and any other property
remaining in the Trust and cause the termination of the Trust in accordance with
the requirements set forth in the Pooling and Servicing Agreement. Upon
termination of the Trust and payment of the Certificates and of all
administrative expenses associated with the Trust, any remaining assets of the
Trust shall be distributed to the holders of the Residual Certificates.

            The Certificate Registrar has executed this Certificate under the
Pooling and Servicing Agreement.

            THIS CERTIFICATE AND THE POOLING AND SERVICING AGREEMENT SHALL BE
CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK
WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

<PAGE>

            IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed under this official seal.

                                        LASALLE BANK NATIONAL
                                           ASSOCIATION, as Certificate Registrar

                                        By:_____________________________________
                                                   AUTHORIZED SIGNATORY

Dated: June 27, 2002

                          CERTIFICATE OF AUTHENTICATION

            THIS IS ONE OF THE CLASS F CERTIFICATES REFERRED TO IN THE
WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

                                        LASALLE BANK NATIONAL
                                           ASSOCIATION,
                                           AUTHENTICATING AGENT

                                        By:_____________________________________
                                                   AUTHORIZED SIGNATORY

<PAGE>

                                  ABBREVIATIONS

The following abbreviations, when used in the inscription on the face of this
Certificate, shall be construed as though they were written out in full
according to applicable laws or regulations:

TEN COM - as tenant in common            UNIF GIFT MIN ACT.............Custodian
                                                             (Cust)
TEN ENT - as tenants by the entireties
                                              Under Uniform Gifts to Minors
JT TEN  - as joint tenants with
          rights of survivorship and
          not as tenants in common                Act..................
                                                         (State)

     Additional abbreviations may also be used though not in the above list.

                                FORM OF TRANSFER

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto

________________________________________________________________________________

____________________________________            PLEASE INSERT SOCIAL SECURITY OR
                                                OTHER IDENTIFYING NUMBER OF
____________________________________            ASSIGNEE

________________________________________________________________________________
             Please print or typewrite name and address of assignee

________________________________________________________________________________
the within Certificate and does hereby or irrevocably constitute and appoint

________________________________________________________________________________
to transfer the said Certificate in the Certificate Register of the within-named
Trust, with full power of substitution in the premises.

Dated:_________________________     ____________________________________________
                                    NOTICE: The signature to this assignment
                                    must correspond with the name as written
                                    upon the face of this Certificate in every
                                    particular without alteration or enlargement
                                    or any change whatever.

________________________________________
SIGNATURE GUARANTEED
The signature must be guaranteed by a
commercial bank or trust company or by a
member firm of the New York Stock
Exchange or another national securities
exchange. Notarized or witnessed
signatures are not acceptable.

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

            The assignee should include the following for purposes of
distribution:

            Distributions shall be made, by wire transfer or otherwise, in
immediately available funds to _____________ for the account of ________________
account number ______________ or, if mailed by check, to ______________________.
Statements should be mailed to ____________________. This information is
provided by assignee named above, or ______________________, as its agent.

<PAGE>

                     [TO BE ATTACHED TO GLOBAL CERTIFICATES]

                  SCHEDULE OF EXCHANGES OF GLOBAL CERTIFICATES

The following exchanges of a part of this Global Certificate have been made:

<PAGE>

                                  EXHIBIT A-10

                          [FORM OF CLASS G CERTIFICATE]

THIS CLASS G CERTIFICATE DOES NOT CONSTITUTE AN OBLIGATION OF OR AN INTEREST IN
THE SELLERS, THE DEPOSITOR, THE INITIAL PURCHASER, THE TRUSTEE, THE FISCAL
AGENT, THE CERTIFICATE REGISTRAR, THE PAYING AGENT, THE MASTER SERVICER, THE
SPECIAL SERVICER, THE PRIMARY SERVICERS OR ANY OF THEIR RESPECTIVE AFFILIATES,
AND WILL NOT BE INSURED OR GUARANTEED BY ANY SUCH ENTITY OR BY ANY GOVERNMENTAL
AGENCY.

THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED OR QUALIFIED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR THE SECURITIES
LAWS OF ANY STATE. ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE
WITHOUT SUCH REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION
WHICH DOES NOT REQUIRE SUCH REGISTRATION OR QUALIFICATION AND WHICH IS IN
ACCORDANCE WITH THE PROVISIONS OF SECTION 3.3 OF THE POOLING AND SERVICING
AGREEMENT REFERRED TO HEREIN.

THE INITIAL CERTIFICATE BALANCE HEREOF IS AS SET FORTH HEREIN, REDUCED OR
INCREASED AS SET FORTH IN THE SCHEDULE OF EXCHANGES ATTACHED HERETO.

THIS CLASS G CERTIFICATE IS SUBORDINATED IN RIGHT OF PAYMENT TO CERTAIN OTHER
CLASSES OF CERTIFICATES OF THIS SERIES TO THE EXTENT DESCRIBED IN THE POOLING
AND SERVICING AGREEMENT REFERRED TO HEREIN.

THE PORTION OF THE CERTIFICATE BALANCE OF THE CERTIFICATES EVIDENCED BY THIS
CERTIFICATE WILL BE DECREASED BY THE PORTION OF PRINCIPAL DISTRIBUTIONS,
REALIZED LOSSES AND CERTAIN EXPENSE LOSSES ON THE CERTIFICATES ALLOCABLE TO THIS
CLASS G CERTIFICATE. ACCORDINGLY, THE CERTIFICATE BALANCE OF THIS CERTIFICATE
MAY BE LESS THAN THAT SET FORTH BELOW. ANYONE ACQUIRING THIS CERTIFICATE MAY
ASCERTAIN ITS CURRENT CERTIFICATE BALANCE BY INQUIRY OF THE PAYING AGENT.

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO THE CERTIFICATE
REGISTRAR OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND
ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER
NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
HEREON IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED
OWNER HEREOF, CEDE & CO. HAS AN INTEREST HEREIN.

THIS CERTIFICATE REPRESENTS A "REGULAR INTEREST" IN A "REAL ESTATE MORTGAGE
INVESTMENT CONDUIT," AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G
AND 860d OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE").

[THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED
STATES SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT") AND, PRIOR TO
THE DATE THAT IS 40 DAYS AFTER THE OFFERING OF THE CERTIFICATES, MAY NOT BE
OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED IN THE UNITED STATES OR TO A
U.S. PERSON EXCEPT PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS
OF THE SECURITIES ACT.](1)

----------
(1)   For Reg S Book-Entry Certificates only

<PAGE>

                    MORGAN STANLEY DEAN WITTER CAPITAL I INC.
                 COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES,
                                 SERIES 2002-IQ2

INITIAL PASS-THROUGH RATE:  7.28%         MASTER SERVICER:  ORIX CAPITAL
                                          MARKETS, LLC

DATE OF POOLING AND SERVICING             SPECIAL SERVICER:  LEND LEASE ASSET
AGREEMENT:  AS OF JUNE 1, 2002            MANAGEMENT, L.P.

CUT-OFF DATE:  JUNE 1, 2002               PAYING AGENT: LASALLE BANK NATIONAL
                                          ASSOCIATION

CLOSING DATE: JUNE 27, 2002

FIRST DISTRIBUTION DATE: JULY 15, 2002    TRUSTEE:  LASALLE BANK NATIONAL
                                          ASSOCIATION

AGGREGATE CERTIFICATE BALANCE OF THE      FISCAL AGENT: ABN AMRO BANK N.V.
CLASS G CERTIFICATES AS OF THE CLOSING
DATE:  $5,840,000

CERTIFICATE BALANCE OF THIS CLASS G       CUSIP NO. [__________]
CERTIFICATE AS OF THE CLOSING DATE:
$[__________] (SUBJECT TO SCHEDULE OF
EXCHANGES ATTACHED)

No. G-1

                               CLASS G CERTIFICATE

evidencing a beneficial ownership interest in a Trust, consisting primarily of a
pool of commercial and multifamily mortgage loans (the "Mortgage Loans") and
certain other property, formed and sold by

                    MORGAN STANLEY DEAN WITTER CAPITAL I INC.

            THIS CERTIFIES THAT CEDE & CO. is the registered owner of the
interest evidenced by this Certificate in the Class G Certificates issued by the
Trust created pursuant to the Pooling and Servicing Agreement, dated as
specified above (the "Pooling and Servicing Agreement"), among Morgan Stanley
Dean Witter Capital I Inc. (hereinafter called the "Depositor", which term
includes any successor entity under the Pooling and Servicing Agreement), the
Trustee, the Fiscal Agent, the Paying Agent, the Certificate Registrar, the
Master Servicer and the Special Servicer, a summary of certain of the pertinent
provisions of which is set forth hereafter. The Trust consists primarily of the
Mortgage Loans, such amounts as shall from time to time be held in the
Certificate Account and Distribution Account, the Insurance Policies and any REO
Properties. To the extent not defined herein, the capitalized terms used herein
have the meanings assigned in the Pooling and Servicing Agreement.

            This Certificate is one of a duly authorized issue of Certificates
designated as Certificates of the series specified on the face hereof (herein
called the "Certificates") and representing an interest in the Class of
Certificates specified on the face hereof equal to the quotient expressed as a
percentage obtained by dividing the Certificate Balance of this Certificate
specified on the face hereof by the aggregate initial Certificate Balance of the
Class G Certificates. The Certificates are designated as the Morgan Stanley Dean
Witter Capital I Inc., Commercial Mortgage Pass-Through Certificates, Series
2002-IQ2 and are issued in the Classes specified in the Pooling and Servicing
Agreement. The Certificates will evidence in the aggregate 100% of the
beneficial ownership of the Trust.

            This Certificate does not purport to summarize the Pooling and
Servicing Agreement and reference is made to that Agreement for information with
respect to the interests, rights, benefits, obligations, proceeds, and duties
evidenced hereby and the rights, duties and obligations of the Trustee and the
Paying Agent. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Pooling and Servicing Agreement, to which
Pooling and Servicing Agreement, as amended from time to time, the
Certificateholder by virtue of the acceptance hereof assents and by which the
Certificateholder is bound. In the case of any conflict between terms specified
in this Certificate and terms specified in the Pooling and Servicing Agreement,
the terms of the Pooling and Servicing Agreement shall govern.

            Distributions of principal of and interest on this Certificate will
be made out of the Available Distribution Amount, to the extent and subject to
the limitations set forth in the Pooling and Servicing Agreement, on the 15th
day of each month or, if such 15th day is not a Business Day, the next
succeeding Business Day (a "Distribution Date") commencing on the first
Distribution Date specified above, to the Person in whose name this Certificate
is registered at the close of business on the last Business Day of the month
immediately preceding the month of such distribution (the "Record Date"). All
sums distributable on this Certificate are payable in the coin or currency of
the United States of America as at the time of payment is legal tender for the
payment of public and private debts.

            Interest on this Certificate will accrue (computed as if each year
consisted of 360 days and each month consisted of 30 days) during the Interest
Accrual Period relating to such Distribution Date at the Pass-Through Rate on
the Certificate Balance of this Certificate immediately prior to each
Distribution Date. Principal and interest allocated to this Certificate on any
Distribution Date will be in an amount due to this Certificate's pro rata share
of the amount to be distributed on the Certificates of this Class as of such
Distribution Date, with a final distribution to be made upon retirement of this
Certificate as set forth in the Pooling and Servicing Agreement.

            Unless the certificate of authentication hereon has been executed by
the Authenticating Agent, by manual signature, this Certificate shall not be
entitled to any benefit under the Pooling and Servicing Agreement or be valid
for any purpose.

            Realized Losses, Expense Losses and interest shortfalls on the
Mortgage Loans shall be allocated on the applicable Distribution Date to
Certificateholders in the manner set forth in the Pooling and Servicing
Agreement. All Realized Losses, Expense Losses and interest shortfalls on the
Mortgage Loans allocated to any Class of Certificates will be allocated pro rata
among the outstanding Certificates of such Class.

            The Certificates are limited in right of payment to certain
collections and recoveries respecting the Mortgage Loans, all as more
specifically set forth in the Pooling and Servicing Agreement. As provided in
the Pooling and Servicing Agreement, withdrawals from the Certificate Account
shall be made from time to time for purposes other than distributions to
Certificateholders, such purposes including reimbursement of certain expenses
incurred with respect to the servicing of the Mortgage Loans and administration
of the Trust.

            All distributions under the Pooling and Servicing Agreement to a
nominee of The Depository Trust Company ("DTC") will be made by or on behalf of
the Paying Agent by wire transfer in immediately available funds to an account
specified in the request of such Certificateholder. All distributions under the
Pooling and Servicing Agreement to Certificateholders will be made by wire
transfer in immediately available funds to the account specified by the
Certificateholder, at a bank or other entity having appropriate facilities
therefor, if such Certificateholder will have provided the Paying Agent with
wiring instructions on or prior to the related Record Date or otherwise by check
mailed to such Certificateholder. Notwithstanding the above, the final
distribution on any Certificate will be made only upon presentation and
surrender of such Certificate at the location that will be specified in a notice
of the pendency of such final distribution.

            The Pooling and Servicing Agreement permits, with certain exceptions
therein provided, the amendment thereof and the modification of the rights and
obligations of the Certificateholders under the Pooling and Servicing Agreement
at any time by the parties thereto with the consent of the Holders of not less
than 51% of the Aggregate Certificate Balance of the Certificates then
outstanding, as specified in the Pooling and Servicing Agreement. Any such
consent by the Holder of this Certificate shall be conclusive and binding on
such Holder and upon all future Holders of this Certificate and of any
Certificate issued upon the transfer hereof or in exchange herefor or in lieu
hereof whether or not notation of such consent is made upon the Certificate. The
Pooling and Servicing Agreement also permits the amendment thereof, in certain
circumstances, without the consent of the Holders of any of the Certificates.

            As provided in the Pooling and Servicing Agreement and subject to
certain limitations therein set forth, the transfer of this Certificate is
registrable in the Certificate Register upon surrender of this Certificate for
registration of transfer at the Corporate Trust Office of the Certificate
Registrar, duly endorsed by, or accompanied by an assignment in the form below
or other written instrument of transfer in form satisfactory to the Certificate
Registrar duly executed by the Holder hereof or such Holder's attorney duly
authorized in writing, and thereupon one or more new Certificates of the same
Class in authorized denominations will be issued to the designated transferee or
transferees.

            Subject to the terms of the Pooling and Servicing Agreement, the
Certificates are issuable in fully registered form only, without coupons, in
minimum denominations specified in the Pooling and Servicing Agreement.

            As provided in the Pooling and Servicing Agreement and subject to
certain limitations therein set forth, Certificates are exchangeable for new
Certificates of the same Class in authorized denominations as requested by the
Holder surrendering the same. No service charge will be made for any such
registration of transfer or exchange but the Certificate Registrar may require
payment of a sum sufficient to cover any tax or other governmental charge that
may be imposed in connection with any transfer or exchange of Certificates.

            Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book entry facilities of DTC.

            The Depositor, the Trustee, the Fiscal Agent, the Paying Agent, the
Master Servicer, the Special Servicer and the Certificate Registrar and any of
their agents may treat the Person in whose name this Certificate is registered
as the owner hereof for all purposes, and neither the Depositor, the Trustee,
the Fiscal Agent, the Paying Agent, the Master Servicer, the Special Servicer,
the Certificate Registrar nor any such agents shall be affected by notice to the
contrary.

            The obligations and responsibilities of the Trustee and the Paying
Agent created hereby (other than the obligation of the Paying Agent to make
payments to the Certificateholders as set forth in Section 10.2 of the Pooling
and Servicing Agreement and other than the obligations in the nature of
information or tax reporting) shall terminate on the earliest of (i) the later
of (A) the final payment or other liquidation of the last Mortgage Loan
remaining in the Trust and (B) the disposition of all REO Property or (ii) the
sale of the property held by the Trust in accordance with Section 10.1(b) of the
Pooling and Servicing Agreement or (iii) the termination of the Trust pursuant
to Section 10.1(c) of the Pooling and Servicing Agreement; provided that in no
event shall the Trust continue beyond the expiration of 21 years from the death
of the last survivor of the descendants of Joseph P. Kennedy, the late
Ambassador of the United States to the Court of St. James, living on the date
hereof. The parties designated in the Pooling and Servicing Agreement may
exercise their option to purchase the Mortgage Loans and any other property
remaining in the Trust and cause the termination of the Trust in accordance with
the requirements set forth in the Pooling and Servicing Agreement. Upon
termination of the Trust and payment of the Certificates and of all
administrative expenses associated with the Trust, any remaining assets of the
Trust shall be distributed to the holders of the Residual Certificates.

            The Certificate Registrar has executed this Certificate under the
Pooling and Servicing Agreement.

            THIS CERTIFICATE AND THE POOLING AND SERVICING AGREEMENT SHALL BE
CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK
WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

<PAGE>

            IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed under this official seal.

                                        LASALLE BANK NATIONAL
                                           ASSOCIATION, as Certificate Registrar

                                        By:_____________________________________
                                                   AUTHORIZED SIGNATORY

Dated: June 27, 2002

                          CERTIFICATE OF AUTHENTICATION

            THIS IS ONE OF THE CLASS G CERTIFICATES REFERRED TO IN THE
WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

                                        LASALLE BANK NATIONAL
                                           ASSOCIATION,
                                           AUTHENTICATING AGENT

                                        By:_____________________________________
                                                   AUTHORIZED SIGNATORY

<PAGE>

                                  ABBREVIATIONS

The following abbreviations, when used in the inscription on the face of this
Certificate, shall be construed as though they were written out in full
according to applicable laws or regulations:

TEN COM - as tenant in common            UNIF GIFT MIN ACT.............Custodian
                                                             (Cust)
TEN ENT - as tenants by the entireties
                                              Under Uniform Gifts to Minors
JT TEN  - as joint tenants with
          rights of survivorship and
          not as tenants in common                Act..................
                                                         (State)

     Additional abbreviations may also be used though not in the above list.

                                FORM OF TRANSFER

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto

________________________________________________________________________________

____________________________________            PLEASE INSERT SOCIAL SECURITY OR
                                                OTHER IDENTIFYING NUMBER OF
____________________________________            ASSIGNEE

________________________________________________________________________________
             Please print or typewrite name and address of assignee

________________________________________________________________________________
the within Certificate and does hereby or irrevocably constitute and appoint

________________________________________________________________________________
to transfer the said Certificate in the Certificate Register of the within-named
Trust, with full power of substitution in the premises.

Dated:_________________________     ____________________________________________
                                    NOTICE: The signature to this assignment
                                    must correspond with the name as written
                                    upon the face of this Certificate in every
                                    particular without alteration or enlargement
                                    or any change whatever.

________________________________________
SIGNATURE GUARANTEED
The signature must be guaranteed by a
commercial bank or trust company or by a
member firm of the New York Stock
Exchange or another national securities
exchange. Notarized or witnessed
signatures are not acceptable.

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

            The assignee should include the following for purposes of
distribution:

            Distributions shall be made, by wire transfer or otherwise, in
immediately available funds to _____________ for the account of ________________
account number ______________ or, if mailed by check, to ______________________.
Statements should be mailed to ____________________. This information is
provided by assignee named above, or ______________________, as its agent.

<PAGE>

                     [TO BE ATTACHED TO GLOBAL CERTIFICATES]

                  SCHEDULE OF EXCHANGES OF GLOBAL CERTIFICATES

The following exchanges of a part of this Global Certificate have been made:

<PAGE>

                                  EXHIBIT A-11

                          [FORM OF CLASS H CERTIFICATE]

THIS CLASS H CERTIFICATE DOES NOT CONSTITUTE AN OBLIGATION OF OR AN INTEREST IN
THE SELLERS, THE DEPOSITOR, THE INITIAL PURCHASER, THE TRUSTEE, THE FISCAL
AGENT, THE CERTIFICATE REGISTRAR, THE PAYING AGENT, THE MASTER SERVICER, THE
SPECIAL SERVICER, THE PRIMARY SERVICERS OR ANY OF THEIR RESPECTIVE AFFILIATES,
AND WILL NOT BE INSURED OR GUARANTEED BY ANY SUCH ENTITY OR BY ANY GOVERNMENTAL
AGENCY.

THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED OR QUALIFIED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR THE SECURITIES
LAWS OF ANY STATE. ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE
WITHOUT SUCH REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION
WHICH DOES NOT REQUIRE SUCH REGISTRATION OR QUALIFICATION AND WHICH IS IN
ACCORDANCE WITH THE PROVISIONS OF SECTION 3.3 OF THE POOLING AND SERVICING
AGREEMENT REFERRED TO HEREIN.

THE INITIAL CERTIFICATE BALANCE HEREOF IS AS SET FORTH HEREIN, REDUCED OR
INCREASED AS SET FORTH IN THE SCHEDULE OF EXCHANGES ATTACHED HERETO.

THIS CLASS H CERTIFICATE IS SUBORDINATED IN RIGHT OF PAYMENT TO CERTAIN OTHER
CLASSES OF CERTIFICATES OF THIS SERIES TO THE EXTENT DESCRIBED IN THE POOLING
AND SERVICING AGREEMENT REFERRED TO HEREIN.

THE PORTION OF THE CERTIFICATE BALANCE OF THE CERTIFICATES EVIDENCED BY THIS
CERTIFICATE WILL BE DECREASED BY THE PORTION OF PRINCIPAL DISTRIBUTIONS,
REALIZED LOSSES AND CERTAIN EXPENSE LOSSES ON THE CERTIFICATES ALLOCABLE TO THIS
CLASS H CERTIFICATE. ACCORDINGLY, THE CERTIFICATE BALANCE OF THIS CERTIFICATE
MAY BE LESS THAN THAT SET FORTH BELOW. ANYONE ACQUIRING THIS CERTIFICATE MAY
ASCERTAIN ITS CURRENT CERTIFICATE BALANCE BY INQUIRY OF THE PAYING AGENT.

NO TRANSFER OF THIS CERTIFICATE TO A RETIREMENT PLAN OR OTHER EMPLOYEE BENEFIT
PLAN OR ARRANGEMENT THAT IS SUBJECT TO TITLE I OF THE EMPLOYEE RETIREMENT INCOME
SECURITY ACT OF 1974, AS AMENDED ("ERISA"), SECTION 4975 OF THE INTERNAL REVENUE
CODE OF 1986, AS AMENDED (THE "CODE"), OR APPLICABLE FEDERAL, STATE OR LOCAL LAW
("SIMILAR LAW") MATERIALLY SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE
CODE OR TO ANY PERSON WHO IS DIRECTLY OR INDIRECTLY PURCHASING THIS CERTIFICATE
ON BEHALF OF, AS NAMED FIDUCIARY OF, AS TRUSTEE OF, OR WITH ASSETS OF ANY SUCH
RETIREMENT PLAN OR OTHER EMPLOYEE BENEFIT PLAN OR ARRANGEMENT, WILL BE
REGISTERED EXCEPT IN COMPLIANCE WITH THE PROVISIONS OF SECTION 3.3 OF THE
POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO THE CERTIFICATE
REGISTRAR OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND
ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER
NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
HEREON IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED
OWNER HEREOF, CEDE & CO. HAS AN INTEREST HEREIN.

THIS CERTIFICATE REPRESENTS A "REGULAR INTEREST" IN A "REAL ESTATE MORTGAGE
INVESTMENT CONDUIT," AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G
AND 860d OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE").

[THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED
STATES SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT") AND, PRIOR TO
THE DATE THAT IS 40 DAYS AFTER THE OFFERING OF THE CERTIFICATES, MAY NOT BE
OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED IN THE UNITED STATES OR TO A
U.S. PERSON EXCEPT PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS
OF THE SECURITIES ACT.](1)

----------
(1)   For Reg S Book-Entry Certificates only

<PAGE>

                    MORGAN STANLEY DEAN WITTER CAPITAL I INC.
                 COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES,
                                 SERIES 2002-IQ2

INITIAL PASS-THROUGH RATE:  5.77%         MASTER SERVICER:  ORIX CAPITAL
                                          MARKETS, LLC

DATE OF POOLING AND SERVICING             SPECIAL SERVICER:  LEND LEASE ASSET
AGREEMENT:  AS OF JUNE 1, 2002            MANAGEMENT, L.P.

CUT-OFF DATE:  JUNE 1, 2002               PAYING AGENT: LASALLE BANK NATIONAL
                                          ASSOCIATION

CLOSING DATE: JUNE 27, 2002

FIRST DISTRIBUTION DATE: JULY 15, 2002    TRUSTEE:  LASALLE BANK NATIONAL
                                          ASSOCIATION

AGGREGATE CERTIFICATE BALANCE OF THE      FISCAL AGENT: ABN AMRO BANK N.V.
CLASS H CERTIFICATES AS OF THE CLOSING
DATE:  $9,732,000

CERTIFICATE BALANCE OF THIS CLASS H       CUSIP NO. [__________]
CERTIFICATE AS OF THE CLOSING DATE:
$[__________] (SUBJECT TO SCHEDULE OF
EXCHANGES ATTACHED)

No. H-1

                               CLASS H CERTIFICATE

evidencing a beneficial ownership interest in a Trust, consisting primarily of a
pool of commercial and multifamily mortgage loans (the "Mortgage Loans") and
certain other property, formed and sold by

                    MORGAN STANLEY DEAN WITTER CAPITAL I INC.

            THIS CERTIFIES THAT CEDE & CO. is the registered owner of the
interest evidenced by this Certificate in the Class H Certificates issued by the
Trust created pursuant to the Pooling and Servicing Agreement, dated as
specified above (the "Pooling and Servicing Agreement"), among Morgan Stanley
Dean Witter Capital I Inc. (hereinafter called the "Depositor", which term
includes any successor entity under the Pooling and Servicing Agreement), the
Trustee, the Fiscal Agent, the Paying Agent, the Certificate Registrar, the
Master Servicer and the Special Servicer, a summary of certain of the pertinent
provisions of which is set forth hereafter. The Trust consists primarily of the
Mortgage Loans, such amounts as shall from time to time be held in the
Certificate Account and Distribution Account, the Insurance Policies and any REO
Properties. To the extent not defined herein, the capitalized terms used herein
have the meanings assigned in the Pooling and Servicing Agreement.

            This Certificate is one of a duly authorized issue of Certificates
designated as Certificates of the series specified on the face hereof (herein
called the "Certificates") and representing an interest in the Class of
Certificates specified on the face hereof equal to the quotient expressed as a
percentage obtained by dividing the Certificate Balance of this Certificate
specified on the face hereof by the aggregate initial Certificate Balance of the
Class H Certificates. The Certificates are designated as the Morgan Stanley Dean
Witter Capital I Inc., Commercial Mortgage Pass-Through Certificates, Series
2002-IQ2 and are issued in the Classes specified in the Pooling and Servicing
Agreement. The Certificates will evidence in the aggregate 100% of the
beneficial ownership of the Trust.

            This Certificate does not purport to summarize the Pooling and
Servicing Agreement and reference is made to that Agreement for information with
respect to the interests, rights, benefits, obligations, proceeds, and duties
evidenced hereby and the rights, duties and obligations of the Trustee and the
Paying Agent. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Pooling and Servicing Agreement, to which
Pooling and Servicing Agreement, as amended from time to time, the
Certificateholder by virtue of the acceptance hereof assents and by which the
Certificateholder is bound. In the case of any conflict between terms specified
in this Certificate and terms specified in the Pooling and Servicing Agreement,
the terms of the Pooling and Servicing Agreement shall govern.

            Distributions of principal of and interest on this Certificate will
be made out of the Available Distribution Amount, to the extent and subject to
the limitations set forth in the Pooling and Servicing Agreement, on the 15th
day of each month or, if such 15th day is not a Business Day, the next
succeeding Business Day (a "Distribution Date") commencing on the first
Distribution Date specified above, to the Person in whose name this Certificate
is registered at the close of business on the last Business Day of the month
immediately preceding the month of such distribution (the "Record Date"). All
sums distributable on this Certificate are payable in the coin or currency of
the United States of America as at the time of payment is legal tender for the
payment of public and private debts.

            Interest on this Certificate will accrue (computed as if each year
consisted of 360 days and each month consisted of 30 days) during the Interest
Accrual Period relating to such Distribution Date at the Pass-Through Rate on
the Certificate Balance of this Certificate immediately prior to each
Distribution Date. Principal and interest allocated to this Certificate on any
Distribution Date will be in an amount due to this Certificate's pro rata share
of the amount to be distributed on the Certificates of this Class as of such
Distribution Date, with a final distribution to be made upon retirement of this
Certificate as set forth in the Pooling and Servicing Agreement.

            Unless the certificate of authentication hereon has been executed by
the Authenticating Agent, by manual signature, this Certificate shall not be
entitled to any benefit under the Pooling and Servicing Agreement or be valid
for any purpose.

            Realized Losses, Expense Losses and interest shortfalls on the
Mortgage Loans shall be allocated on the applicable Distribution Date to
Certificateholders in the manner set forth in the Pooling and Servicing
Agreement. All Realized Losses, Expense Losses and interest shortfalls on the
Mortgage Loans allocated to any Class of Certificates will be allocated pro rata
among the outstanding Certificates of such Class.

            The Certificates are limited in right of payment to certain
collections and recoveries respecting the Mortgage Loans, all as more
specifically set forth in the Pooling and Servicing Agreement. As provided in
the Pooling and Servicing Agreement, withdrawals from the Certificate Account
shall be made from time to time for purposes other than distributions to
Certificateholders, such purposes including reimbursement of certain expenses
incurred with respect to the servicing of the Mortgage Loans and administration
of the Trust.

            All distributions under the Pooling and Servicing Agreement to a
nominee of The Depository Trust Company ("DTC") will be made by or on behalf of
the Paying Agent by wire transfer in immediately available funds to an account
specified in the request of such Certificateholder. All distributions under the
Pooling and Servicing Agreement to Certificateholders will be made by wire
transfer in immediately available funds to the account specified by the
Certificateholder, at a bank or other entity having appropriate facilities
therefor, if such Certificateholder will have provided the Paying Agent with
wiring instructions on or prior to the related Record Date or otherwise by check
mailed to such Certificateholder. Notwithstanding the above, the final
distribution on any Certificate will be made only upon presentation and
surrender of such Certificate at the location that will be specified in a notice
of the pendency of such final distribution.

            The Pooling and Servicing Agreement permits, with certain exceptions
therein provided, the amendment thereof and the modification of the rights and
obligations of the Certificateholders under the Pooling and Servicing Agreement
at any time by the parties thereto with the consent of the Holders of not less
than 51% of the Aggregate Certificate Balance of the Certificates then
outstanding, as specified in the Pooling and Servicing Agreement. Any such
consent by the Holder of this Certificate shall be conclusive and binding on
such Holder and upon all future Holders of this Certificate and of any
Certificate issued upon the transfer hereof or in exchange herefor or in lieu
hereof whether or not notation of such consent is made upon the Certificate. The
Pooling and Servicing Agreement also permits the amendment thereof, in certain
circumstances, without the consent of the Holders of any of the Certificates.

            As provided in the Pooling and Servicing Agreement and subject to
certain limitations therein set forth, the transfer of this Certificate is
registrable in the Certificate Register upon surrender of this Certificate for
registration of transfer at the Corporate Trust Office of the Certificate
Registrar, duly endorsed by, or accompanied by an assignment in the form below
or other written instrument of transfer in form satisfactory to the Certificate
Registrar duly executed by the Holder hereof or such Holder's attorney duly
authorized in writing, and thereupon one or more new Certificates of the same
Class in authorized denominations will be issued to the designated transferee or
transferees.

            Subject to the terms of the Pooling and Servicing Agreement, the
Certificates are issuable in fully registered form only, without coupons, in
minimum denominations specified in the Pooling and Servicing Agreement.

            As provided in the Pooling and Servicing Agreement and subject to
certain limitations therein set forth, Certificates are exchangeable for new
Certificates of the same Class in authorized denominations as requested by the
Holder surrendering the same. No service charge will be made for any such
registration of transfer or exchange but the Certificate Registrar may require
payment of a sum sufficient to cover any tax or other governmental charge that
may be imposed in connection with any transfer or exchange of Certificates.

            Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book entry facilities of DTC.

            The Depositor, the Trustee, the Fiscal Agent, the Paying Agent, the
Master Servicer, the Special Servicer and the Certificate Registrar and any of
their agents may treat the Person in whose name this Certificate is registered
as the owner hereof for all purposes, and neither the Depositor, the Trustee,
the Fiscal Agent, the Paying Agent, the Master Servicer, the Special Servicer,
the Certificate Registrar nor any such agents shall be affected by notice to the
contrary.

            The obligations and responsibilities of the Trustee and the Paying
Agent created hereby (other than the obligation of the Paying Agent to make
payments to the Certificateholders as set forth in Section 10.2 of the Pooling
and Servicing Agreement and other than the obligations in the nature of
information or tax reporting) shall terminate on the earliest of (i) the later
of (A) the final payment or other liquidation of the last Mortgage Loan
remaining in the Trust and (B) the disposition of all REO Property or (ii) the
sale of the property held by the Trust in accordance with Section 10.1(b) of the
Pooling and Servicing Agreement or (iii) the termination of the Trust pursuant
to Section 10.1(c) of the Pooling and Servicing Agreement; provided that in no
event shall the Trust continue beyond the expiration of 21 years from the death
of the last survivor of the descendants of Joseph P. Kennedy, the late
Ambassador of the United States to the Court of St. James, living on the date
hereof. The parties designated in the Pooling and Servicing Agreement may
exercise their option to purchase the Mortgage Loans and any other property
remaining in the Trust and cause the termination of the Trust in accordance with
the requirements set forth in the Pooling and Servicing Agreement. Upon
termination of the Trust and payment of the Certificates and of all
administrative expenses associated with the Trust, any remaining assets of the
Trust shall be distributed to the holders of the Residual Certificates.

            The Certificate Registrar has executed this Certificate under the
Pooling and Servicing Agreement.

            THIS CERTIFICATE AND THE POOLING AND SERVICING AGREEMENT SHALL BE
CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK
WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

<PAGE>

            IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed under this official seal.

                                        LASALLE BANK NATIONAL
                                           ASSOCIATION, as Certificate Registrar

                                        By:_____________________________________
                                                   AUTHORIZED SIGNATORY

Dated: June 27, 2002

                          CERTIFICATE OF AUTHENTICATION

            THIS IS ONE OF THE CLASS H CERTIFICATES REFERRED TO IN THE
WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

                                        LASALLE BANK NATIONAL
                                           ASSOCIATION,
                                           AUTHENTICATING AGENT

                                        By:_____________________________________
                                                   AUTHORIZED SIGNATORY

<PAGE>

                                  ABBREVIATIONS

The following abbreviations, when used in the inscription on the face of this
Certificate, shall be construed as though they were written out in full
according to applicable laws or regulations:

TEN COM - as tenant in common            UNIF GIFT MIN ACT.............Custodian
                                                             (Cust)
TEN ENT - as tenants by the entireties
                                              Under Uniform Gifts to Minors
JT TEN  - as joint tenants with
          rights of survivorship and
          not as tenants in common                Act..................
                                                         (State)

     Additional abbreviations may also be used though not in the above list.

                                FORM OF TRANSFER

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto

________________________________________________________________________________

____________________________________            PLEASE INSERT SOCIAL SECURITY OR
                                                OTHER IDENTIFYING NUMBER OF
____________________________________            ASSIGNEE

________________________________________________________________________________
             Please print or typewrite name and address of assignee

________________________________________________________________________________
the within Certificate and does hereby or irrevocably constitute and appoint

________________________________________________________________________________
to transfer the said Certificate in the Certificate Register of the within-named
Trust, with full power of substitution in the premises.

Dated:_________________________     ____________________________________________
                                    NOTICE: The signature to this assignment
                                    must correspond with the name as written
                                    upon the face of this Certificate in every
                                    particular without alteration or enlargement
                                    or any change whatever.

________________________________________
SIGNATURE GUARANTEED
The signature must be guaranteed by a
commercial bank or trust company or by a
member firm of the New York Stock
Exchange or another national securities
exchange. Notarized or witnessed
signatures are not acceptable.

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

            The assignee should include the following for purposes of
distribution:

            Distributions shall be made, by wire transfer or otherwise, in
immediately available funds to _____________ for the account of ________________
account number ______________ or, if mailed by check, to ______________________.
Statements should be mailed to ____________________. This information is
provided by assignee named above, or ______________________, as its agent.

<PAGE>

                     [TO BE ATTACHED TO GLOBAL CERTIFICATES]

                  SCHEDULE OF EXCHANGES OF GLOBAL CERTIFICATES

The following exchanges of a part of this Global Certificate have been made:

<PAGE>

                                  EXHIBIT A-12

                          [FORM OF CLASS J CERTIFICATE]

THIS CLASS J CERTIFICATE DOES NOT CONSTITUTE AN OBLIGATION OF OR AN INTEREST IN
THE SELLERS, THE DEPOSITOR, THE INITIAL PURCHASER, THE TRUSTEE, THE FISCAL
AGENT, THE CERTIFICATE REGISTRAR, THE PAYING AGENT, THE MASTER SERVICER, THE
SPECIAL SERVICER, THE PRIMARY SERVICERS OR ANY OF THEIR RESPECTIVE AFFILIATES,
AND WILL NOT BE INSURED OR GUARANTEED BY ANY SUCH ENTITY OR BY ANY GOVERNMENTAL
AGENCY.

THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED OR QUALIFIED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR THE SECURITIES
LAWS OF ANY STATE. ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE
WITHOUT SUCH REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION
WHICH DOES NOT REQUIRE SUCH REGISTRATION OR QUALIFICATION AND WHICH IS IN
ACCORDANCE WITH THE PROVISIONS OF SECTION 3.3 OF THE POOLING AND SERVICING
AGREEMENT REFERRED TO HEREIN.

THE INITIAL CERTIFICATE BALANCE HEREOF IS AS SET FORTH HEREIN, REDUCED OR
INCREASED AS SET FORTH IN THE SCHEDULE OF EXCHANGES ATTACHED HERETO.

THIS CLASS J CERTIFICATE IS SUBORDINATED IN RIGHT OF PAYMENT TO CERTAIN OTHER
CLASSES OF CERTIFICATES OF THIS SERIES TO THE EXTENT DESCRIBED IN THE POOLING
AND SERVICING AGREEMENT REFERRED TO HEREIN.

THE PORTION OF THE CERTIFICATE BALANCE OF THE CERTIFICATES EVIDENCED BY THIS
CERTIFICATE WILL BE DECREASED BY THE PORTION OF PRINCIPAL DISTRIBUTIONS,
REALIZED LOSSES AND CERTAIN EXPENSE LOSSES ON THE CERTIFICATES ALLOCABLE TO THIS
CLASS J CERTIFICATE. ACCORDINGLY, THE CERTIFICATE BALANCE OF THIS CERTIFICATE
MAY BE LESS THAN THAT SET FORTH BELOW. ANYONE ACQUIRING THIS CERTIFICATE MAY
ASCERTAIN ITS CURRENT CERTIFICATE BALANCE BY INQUIRY OF THE PAYING AGENT.

NO TRANSFER OF THIS CERTIFICATE TO A RETIREMENT PLAN OR OTHER EMPLOYEE BENEFIT
PLAN OR ARRANGEMENT THAT IS SUBJECT TO TITLE I OF THE EMPLOYEE RETIREMENT INCOME
SECURITY ACT OF 1974, AS AMENDED ("ERISA"), SECTION 4975 OF THE INTERNAL REVENUE
CODE OF 1986, AS AMENDED (THE "CODE"), OR APPLICABLE FEDERAL, STATE OR LOCAL LAW
("SIMILAR LAW") MATERIALLY SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE
CODE OR TO ANY PERSON WHO IS DIRECTLY OR INDIRECTLY PURCHASING THIS CERTIFICATE
ON BEHALF OF, AS NAMED FIDUCIARY OF, AS TRUSTEE OF, OR WITH ASSETS OF ANY SUCH
RETIREMENT PLAN OR OTHER EMPLOYEE BENEFIT PLAN OR ARRANGEMENT, WILL BE
REGISTERED EXCEPT IN COMPLIANCE WITH THE PROVISIONS OF SECTION 3.3 OF THE
POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO THE CERTIFICATE
REGISTRAR OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND
ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER
NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
HEREON IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED
OWNER HEREOF, CEDE & CO. HAS AN INTEREST HEREIN.

THIS CERTIFICATE REPRESENTS A "REGULAR INTEREST" IN A "REAL ESTATE MORTGAGE
INVESTMENT CONDUIT," AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G
AND 860d OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE").

[THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED
STATES SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT") AND, PRIOR TO
THE DATE THAT IS 40 DAYS AFTER THE OFFERING OF THE CERTIFICATES, MAY NOT BE
OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED IN THE UNITED STATES OR TO A
U.S. PERSON EXCEPT PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS
OF THE SECURITIES ACT.](1)

----------
(1)   For Reg S Book-Entry Certificates only

<PAGE>

                    MORGAN STANLEY DEAN WITTER CAPITAL I INC.
                 COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES,
                                 SERIES 2002-IQ2

INITIAL PASS-THROUGH RATE: 5.77%          MASTER SERVICER:  ORIX CAPITAL
                                          MARKETS, LLC

DATE OF POOLING AND SERVICING             SPECIAL SERVICER:  LEND LEASE ASSET
AGREEMENT:  AS OF JUNE 1, 2002            MANAGEMENT, L.P.

CUT-OFF DATE:  JUNE 1, 2002               PAYING AGENT: LASALLE BANK NATIONAL
                                          ASSOCIATION

CLOSING DATE: JUNE 27, 2002

FIRST DISTRIBUTION DATE: JULY 15, 2002    TRUSTEE:  LASALLE BANK NATIONAL
                                          ASSOCIATION

AGGREGATE CERTIFICATE BALANCE OF THE      FISCAL AGENT: ABN AMRO BANK N.V.
CLASS J CERTIFICATES AS OF THE CLOSING
DATE:  $5,839,000

CERTIFICATE BALANCE OF THIS CLASS J       CUSIP NO. [__________]
CERTIFICATE AS OF THE CLOSING DATE:
$[__________] (SUBJECT TO SCHEDULE OF
EXCHANGES ATTACHED)

No. J-1

                               CLASS J CERTIFICATE

evidencing a beneficial ownership interest in a Trust, consisting primarily of a
pool of commercial and multifamily mortgage loans (the "Mortgage Loans") and
certain other property, formed and sold by

                    MORGAN STANLEY DEAN WITTER CAPITAL I INC.

            THIS CERTIFIES THAT CEDE & CO. is the registered owner of the
interest evidenced by this Certificate in the Class J Certificates issued by the
Trust created pursuant to the Pooling and Servicing Agreement, dated as
specified above (the "Pooling and Servicing Agreement"), among Morgan Stanley
Dean Witter Capital I Inc. (hereinafter called the "Depositor", which term
includes any successor entity under the Pooling and Servicing Agreement), the
Trustee, the Fiscal Agent, the Paying Agent, the Certificate Registrar, the
Master Servicer and the Special Servicer, a summary of certain of the pertinent
provisions of which is set forth hereafter. The Trust consists primarily of the
Mortgage Loans, such amounts as shall from time to time be held in the
Certificate Account and Distribution Account, the Insurance Policies and any REO
Properties. To the extent not defined herein, the capitalized terms used herein
have the meanings assigned in the Pooling and Servicing Agreement.

            This Certificate is one of a duly authorized issue of Certificates
designated as Certificates of the series specified on the face hereof (herein
called the "Certificates") and representing an interest in the Class of
Certificates specified on the face hereof equal to the quotient expressed as a
percentage obtained by dividing the Certificate Balance of this Certificate
specified on the face hereof by the aggregate initial Certificate Balance of the
Class J Certificates. The Certificates are designated as the Morgan Stanley Dean
Witter Capital I Inc., Commercial Mortgage Pass-Through Certificates, Series
2002-IQ2 and are issued in the Classes specified in the Pooling and Servicing
Agreement. The Certificates will evidence in the aggregate 100% of the
beneficial ownership of the Trust.

            This Certificate does not purport to summarize the Pooling and
Servicing Agreement and reference is made to that Agreement for information with
respect to the interests, rights, benefits, obligations, proceeds, and duties
evidenced hereby and the rights, duties and obligations of the Trustee and the
Paying Agent. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Pooling and Servicing Agreement, to which
Pooling and Servicing Agreement, as amended from time to time, the
Certificateholder by virtue of the acceptance hereof assents and by which the
Certificateholder is bound. In the case of any conflict between terms specified
in this Certificate and terms specified in the Pooling and Servicing Agreement,
the terms of the Pooling and Servicing Agreement shall govern.

            Distributions of principal of and interest on this Certificate will
be made out of the Available Distribution Amount, to the extent and subject to
the limitations set forth in the Pooling and Servicing Agreement, on the 15th
day of each month or, if such 15th day is not a Business Day, the next
succeeding Business Day (a "Distribution Date") commencing on the first
Distribution Date specified above, to the Person in whose name this Certificate
is registered at the close of business on the last Business Day of the month
immediately preceding the month of such distribution (the "Record Date"). All
sums distributable on this Certificate are payable in the coin or currency of
the United States of America as at the time of payment is legal tender for the
payment of public and private debts.

            Interest on this Certificate will accrue (computed as if each year
consisted of 360 days and each month consisted of 30 days) during the Interest
Accrual Period relating to such Distribution Date at the Pass-Through Rate on
the Certificate Balance of this Certificate immediately prior to each
Distribution Date. Principal and interest allocated to this Certificate on any
Distribution Date will be in an amount due to this Certificate's pro rata share
of the amount to be distributed on the Certificates of this Class as of such
Distribution Date, with a final distribution to be made upon retirement of this
Certificate as set forth in the Pooling and Servicing Agreement.

            Unless the certificate of authentication hereon has been executed by
the Authenticating Agent, by manual signature, this Certificate shall not be
entitled to any benefit under the Pooling and Servicing Agreement or be valid
for any purpose.

            Realized Losses, Expense Losses and interest shortfalls on the
Mortgage Loans shall be allocated on the applicable Distribution Date to
Certificateholders in the manner set forth in the Pooling and Servicing
Agreement. All Realized Losses, Expense Losses and interest shortfalls on the
Mortgage Loans allocated to any Class of Certificates will be allocated pro rata
among the outstanding Certificates of such Class.

            The Certificates are limited in right of payment to certain
collections and recoveries respecting the Mortgage Loans, all as more
specifically set forth in the Pooling and Servicing Agreement. As provided in
the Pooling and Servicing Agreement, withdrawals from the Certificate Account
shall be made from time to time for purposes other than distributions to
Certificateholders, such purposes including reimbursement of certain expenses
incurred with respect to the servicing of the Mortgage Loans and administration
of the Trust.

            All distributions under the Pooling and Servicing Agreement to a
nominee of The Depository Trust Company ("DTC") will be made by or on behalf of
the Paying Agent by wire transfer in immediately available funds to an account
specified in the request of such Certificateholder. All distributions under the
Pooling and Servicing Agreement to Certificateholders will be made by wire
transfer in immediately available funds to the account specified by the
Certificateholder, at a bank or other entity having appropriate facilities
therefor, if such Certificateholder will have provided the Paying Agent with
wiring instructions on or prior to the related Record Date or otherwise by check
mailed to such Certificateholder. Notwithstanding the above, the final
distribution on any Certificate will be made only upon presentation and
surrender of such Certificate at the location that will be specified in a notice
of the pendency of such final distribution.

            The Pooling and Servicing Agreement permits, with certain exceptions
therein provided, the amendment thereof and the modification of the rights and
obligations of the Certificateholders under the Pooling and Servicing Agreement
at any time by the parties thereto with the consent of the Holders of not less
than 51% of the Aggregate Certificate Balance of the Certificates then
outstanding, as specified in the Pooling and Servicing Agreement. Any such
consent by the Holder of this Certificate shall be conclusive and binding on
such Holder and upon all future Holders of this Certificate and of any
Certificate issued upon the transfer hereof or in exchange herefor or in lieu
hereof whether or not notation of such consent is made upon the Certificate. The
Pooling and Servicing Agreement also permits the amendment thereof, in certain
circumstances, without the consent of the Holders of any of the Certificates.

            As provided in the Pooling and Servicing Agreement and subject to
certain limitations therein set forth, the transfer of this Certificate is
registrable in the Certificate Register upon surrender of this Certificate for
registration of transfer at the Corporate Trust Office of the Certificate
Registrar, duly endorsed by, or accompanied by an assignment in the form below
or other written instrument of transfer in form satisfactory to the Certificate
Registrar duly executed by the Holder hereof or such Holder's attorney duly
authorized in writing, and thereupon one or more new Certificates of the same
Class in authorized denominations will be issued to the designated transferee or
transferees.

            Subject to the terms of the Pooling and Servicing Agreement, the
Certificates are issuable in fully registered form only, without coupons, in
minimum denominations specified in the Pooling and Servicing Agreement.

            As provided in the Pooling and Servicing Agreement and subject to
certain limitations therein set forth, Certificates are exchangeable for new
Certificates of the same Class in authorized denominations as requested by the
Holder surrendering the same. No service charge will be made for any such
registration of transfer or exchange but the Certificate Registrar may require
payment of a sum sufficient to cover any tax or other governmental charge that
may be imposed in connection with any transfer or exchange of Certificates.

            Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book entry facilities of DTC.

            The Depositor, the Trustee, the Fiscal Agent, the Paying Agent, the
Master Servicer, the Special Servicer and the Certificate Registrar and any of
their agents may treat the Person in whose name this Certificate is registered
as the owner hereof for all purposes, and neither the Depositor, the Trustee,
the Fiscal Agent, the Paying Agent, the Master Servicer, the Special Servicer,
the Certificate Registrar nor any such agents shall be affected by notice to the
contrary.

            The obligations and responsibilities of the Trustee and the Paying
Agent created hereby (other than the obligation of the Paying Agent to make
payments to the Certificateholders as set forth in Section 10.2 of the Pooling
and Servicing Agreement and other than the obligations in the nature of
information or tax reporting) shall terminate on the earliest of (i) the later
of (A) the final payment or other liquidation of the last Mortgage Loan
remaining in the Trust and (B) the disposition of all REO Property or (ii) the
sale of the property held by the Trust in accordance with Section 10.1(b) of the
Pooling and Servicing Agreement or (iii) the termination of the Trust pursuant
to Section 10.1(c) of the Pooling and Servicing Agreement; provided that in no
event shall the Trust continue beyond the expiration of 21 years from the death
of the last survivor of the descendants of Joseph P. Kennedy, the late
Ambassador of the United States to the Court of St. James, living on the date
hereof. The parties designated in the Pooling and Servicing Agreement may
exercise their option to purchase the Mortgage Loans and any other property
remaining in the Trust and cause the termination of the Trust in accordance with
the requirements set forth in the Pooling and Servicing Agreement. Upon
termination of the Trust and payment of the Certificates and of all
administrative expenses associated with the Trust, any remaining assets of the
Trust shall be distributed to the holders of the Residual Certificates.

            The Certificate Registrar has executed this Certificate under the
Pooling and Servicing Agreement.

            THIS CERTIFICATE AND THE POOLING AND SERVICING AGREEMENT SHALL BE
CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK
WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

<PAGE>

            IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed under this official seal.

                                        LASALLE BANK NATIONAL
                                           ASSOCIATION, as Certificate Registrar

                                        By:_____________________________________
                                                   AUTHORIZED SIGNATORY

Dated: June 27, 2002

                          CERTIFICATE OF AUTHENTICATION

            THIS IS ONE OF THE CLASS J CERTIFICATES REFERRED TO IN THE
WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

                                        LASALLE BANK NATIONAL
                                           ASSOCIATION,
                                           AUTHENTICATING AGENT

                                        By:_____________________________________
                                                   AUTHORIZED SIGNATORY

<PAGE>

                                  ABBREVIATIONS

The following abbreviations, when used in the inscription on the face of this
Certificate, shall be construed as though they were written out in full
according to applicable laws or regulations:

TEN COM - as tenant in common            UNIF GIFT MIN ACT.............Custodian
                                                             (Cust)
TEN ENT - as tenants by the entireties
                                              Under Uniform Gifts to Minors
JT TEN  - as joint tenants with
          rights of survivorship and
          not as tenants in common                Act..................
                                                         (State)

     Additional abbreviations may also be used though not in the above list.

                                FORM OF TRANSFER

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto

________________________________________________________________________________

____________________________________            PLEASE INSERT SOCIAL SECURITY OR
                                                OTHER IDENTIFYING NUMBER OF
____________________________________            ASSIGNEE

________________________________________________________________________________
             Please print or typewrite name and address of assignee

________________________________________________________________________________
the within Certificate and does hereby or irrevocably constitute and appoint

________________________________________________________________________________
to transfer the said Certificate in the Certificate Register of the within-named
Trust, with full power of substitution in the premises.

Dated:_________________________     ____________________________________________
                                    NOTICE: The signature to this assignment
                                    must correspond with the name as written
                                    upon the face of this Certificate in every
                                    particular without alteration or enlargement
                                    or any change whatever.

________________________________________
SIGNATURE GUARANTEED
The signature must be guaranteed by a
commercial bank or trust company or by a
member firm of the New York Stock
Exchange or another national securities
exchange. Notarized or witnessed
signatures are not acceptable.

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

            The assignee should include the following for purposes of
distribution:

            Distributions shall be made, by wire transfer or otherwise, in
immediately available funds to _____________ for the account of ________________
account number ______________ or, if mailed by check, to ______________________.
Statements should be mailed to ____________________. This information is
provided by assignee named above, or ______________________, as its agent.

<PAGE>

                     [TO BE ATTACHED TO GLOBAL CERTIFICATES]

                  SCHEDULE OF EXCHANGES OF GLOBAL CERTIFICATES

The following exchanges of a part of this Global Certificate have been made:

<PAGE>

                                  EXHIBIT A-13

                          [FORM OF CLASS K CERTIFICATE]

THIS CLASS K CERTIFICATE DOES NOT CONSTITUTE AN OBLIGATION OF OR AN INTEREST IN
THE SELLERS, THE DEPOSITOR, THE INITIAL PURCHASER, THE TRUSTEE, THE FISCAL
AGENT, THE CERTIFICATE REGISTRAR, THE PAYING AGENT, THE MASTER SERVICER, THE
SPECIAL SERVICER, THE PRIMARY SERVICERS OR ANY OF THEIR RESPECTIVE AFFILIATES,
AND WILL NOT BE INSURED OR GUARANTEED BY ANY SUCH ENTITY OR BY ANY GOVERNMENTAL
AGENCY.

THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED OR QUALIFIED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR THE SECURITIES
LAWS OF ANY STATE. ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE
WITHOUT SUCH REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION
WHICH DOES NOT REQUIRE SUCH REGISTRATION OR QUALIFICATION AND WHICH IS IN
ACCORDANCE WITH THE PROVISIONS OF SECTION 3.3 OF THE POOLING AND SERVICING
AGREEMENT REFERRED TO HEREIN.

THE INITIAL CERTIFICATE BALANCE HEREOF IS AS SET FORTH HEREIN, REDUCED OR
INCREASED AS SET FORTH IN THE SCHEDULE OF EXCHANGES ATTACHED HERETO.

THIS CLASS K CERTIFICATE IS SUBORDINATED IN RIGHT OF PAYMENT TO CERTAIN OTHER
CLASSES OF CERTIFICATES OF THIS SERIES TO THE EXTENT DESCRIBED IN THE POOLING
AND SERVICING AGREEMENT REFERRED TO HEREIN.

THE PORTION OF THE CERTIFICATE BALANCE OF THE CERTIFICATES EVIDENCED BY THIS
CERTIFICATE WILL BE DECREASED BY THE PORTION OF PRINCIPAL DISTRIBUTIONS,
REALIZED LOSSES AND CERTAIN EXPENSE LOSSES ON THE CERTIFICATES ALLOCABLE TO THIS
CLASS K CERTIFICATE. ACCORDINGLY, THE CERTIFICATE BALANCE OF THIS CERTIFICATE
MAY BE LESS THAN THAT SET FORTH BELOW. ANYONE ACQUIRING THIS CERTIFICATE MAY
ASCERTAIN ITS CURRENT CERTIFICATE BALANCE BY INQUIRY OF THE PAYING AGENT.

NO TRANSFER OF THIS CERTIFICATE TO A RETIREMENT PLAN OR OTHER EMPLOYEE BENEFIT
PLAN OR ARRANGEMENT THAT IS SUBJECT TO TITLE I OF THE EMPLOYEE RETIREMENT INCOME
SECURITY ACT OF 1974, AS AMENDED ("ERISA"), SECTION 4975 OF THE INTERNAL REVENUE
CODE OF 1986, AS AMENDED (THE "CODE"), OR APPLICABLE FEDERAL, STATE OR LOCAL LAW
("SIMILAR LAW") MATERIALLY SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE
CODE OR TO ANY PERSON WHO IS DIRECTLY OR INDIRECTLY PURCHASING THIS CERTIFICATE
ON BEHALF OF, AS NAMED FIDUCIARY OF, AS TRUSTEE OF, OR WITH ASSETS OF ANY SUCH
RETIREMENT PLAN OR OTHER EMPLOYEE BENEFIT PLAN OR ARRANGEMENT, WILL BE
REGISTERED EXCEPT IN COMPLIANCE WITH THE PROVISIONS OF SECTION 3.3 OF THE
POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO THE CERTIFICATE
REGISTRAR OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND
ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER
NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
HEREON IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED
OWNER HEREOF, CEDE & CO. HAS AN INTEREST HEREIN.

THIS CERTIFICATE REPRESENTS A "REGULAR INTEREST" IN A "REAL ESTATE MORTGAGE
INVESTMENT CONDUIT," AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G
AND 860d OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE").

[THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED
STATES SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT") AND, PRIOR TO
THE DATE THAT IS 40 DAYS AFTER THE OFFERING OF THE CERTIFICATES, MAY NOT BE
OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED IN THE UNITED STATES OR TO A
U.S. PERSON EXCEPT PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS
OF THE SECURITIES ACT.](1)

----------
(1)   For Reg S Book-Entry Certificates only

<PAGE>

                    MORGAN STANLEY DEAN WITTER CAPITAL I INC.
                 COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES,
                                 SERIES 2002-IQ2

INITIAL PASS-THROUGH RATE: 5.77%          MASTER SERVICER:  ORIX CAPITAL
                                          MARKETS, LLC

DATE OF POOLING AND SERVICING             SPECIAL SERVICER:  LEND LEASE ASSET
AGREEMENT:  AS OF JUNE 1, 2002            MANAGEMENT, L.P.

CUT-OFF DATE:  JUNE 1, 2002               PAYING AGENT: LASALLE BANK NATIONAL
                                          ASSOCIATION

CLOSING DATE: JUNE 27, 2002

FIRST DISTRIBUTION DATE: JULY 15, 2002    TRUSTEE:  LASALLE BANK NATIONAL
                                          ASSOCIATION

AGGREGATE CERTIFICATE BALANCE OF THE      FISCAL AGENT: ABN AMRO BANK N.V.
CLASS K CERTIFICATES AS OF THE CLOSING
DATE:  $3,893,000

CERTIFICATE BALANCE OF THIS CLASS K       CUSIP NO. [__________]
CERTIFICATE AS OF THE CLOSING DATE:
$[__________] (SUBJECT TO SCHEDULE OF
EXCHANGES ATTACHED)

No. K-1

                               CLASS K CERTIFICATE

evidencing a beneficial ownership interest in a Trust, consisting primarily of a
pool of commercial and multifamily mortgage loans (the "Mortgage Loans") and
certain other property, formed and sold by

                    MORGAN STANLEY DEAN WITTER CAPITAL I INC.

            THIS CERTIFIES THAT CEDE & CO. is the registered owner of the
interest evidenced by this Certificate in the Class K Certificates issued by the
Trust created pursuant to the Pooling and Servicing Agreement, dated as
specified above (the "Pooling and Servicing Agreement"), among Morgan Stanley
Dean Witter Capital I Inc. (hereinafter called the "Depositor", which term
includes any successor entity under the Pooling and Servicing Agreement), the
Trustee, the Fiscal Agent, the Paying Agent, the Certificate Registrar, the
Master Servicer and the Special Servicer, a summary of certain of the pertinent
provisions of which is set forth hereafter. The Trust consists primarily of the
Mortgage Loans, such amounts as shall from time to time be held in the
Certificate Account and Distribution Account, the Insurance Policies and any REO
Properties. To the extent not defined herein, the capitalized terms used herein
have the meanings assigned in the Pooling and Servicing Agreement.

            This Certificate is one of a duly authorized issue of Certificates
designated as Certificates of the series specified on the face hereof (herein
called the "Certificates") and representing an interest in the Class of
Certificates specified on the face hereof equal to the quotient expressed as a
percentage obtained by dividing the Certificate Balance of this Certificate
specified on the face hereof by the aggregate initial Certificate Balance of the
Class K Certificates. The Certificates are designated as the Morgan Stanley Dean
Witter Capital I Inc., Commercial Mortgage Pass-Through Certificates, Series
2002-IQ2 and are issued in the Classes specified in the Pooling and Servicing
Agreement. The Certificates will evidence in the aggregate 100% of the
beneficial ownership of the Trust.

            This Certificate does not purport to summarize the Pooling and
Servicing Agreement and reference is made to that Agreement for information with
respect to the interests, rights, benefits, obligations, proceeds, and duties
evidenced hereby and the rights, duties and obligations of the Trustee and the
Paying Agent. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Pooling and Servicing Agreement, to which
Pooling and Servicing Agreement, as amended from time to time, the
Certificateholder by virtue of the acceptance hereof assents and by which the
Certificateholder is bound. In the case of any conflict between terms specified
in this Certificate and terms specified in the Pooling and Servicing Agreement,
the terms of the Pooling and Servicing Agreement shall govern.

            Distributions of principal of and interest on this Certificate will
be made out of the Available Distribution Amount, to the extent and subject to
the limitations set forth in the Pooling and Servicing Agreement, on the 15th
day of each month or, if such 15th day is not a Business Day, the next
succeeding Business Day (a "Distribution Date") commencing on the first
Distribution Date specified above, to the Person in whose name this Certificate
is registered at the close of business on the last Business Day of the month
immediately preceding the month of such distribution (the "Record Date"). All
sums distributable on this Certificate are payable in the coin or currency of
the United States of America as at the time of payment is legal tender for the
payment of public and private debts.

            Interest on this Certificate will accrue (computed as if each year
consisted of 360 days and each month consisted of 30 days) during the Interest
Accrual Period relating to such Distribution Date at the Pass-Through Rate on
the Certificate Balance of this Certificate immediately prior to each
Distribution Date. Principal and interest allocated to this Certificate on any
Distribution Date will be in an amount due to this Certificate's pro rata share
of the amount to be distributed on the Certificates of this Class as of such
Distribution Date, with a final distribution to be made upon retirement of this
Certificate as set forth in the Pooling and Servicing Agreement.

            Unless the certificate of authentication hereon has been executed by
the Authenticating Agent, by manual signature, this Certificate shall not be
entitled to any benefit under the Pooling and Servicing Agreement or be valid
for any purpose.

            Realized Losses, Expense Losses and interest shortfalls on the
Mortgage Loans shall be allocated on the applicable Distribution Date to
Certificateholders in the manner set forth in the Pooling and Servicing
Agreement. All Realized Losses, Expense Losses and interest shortfalls on the
Mortgage Loans allocated to any Class of Certificates will be allocated pro rata
among the outstanding Certificates of such Class.

            The Certificates are limited in right of payment to certain
collections and recoveries respecting the Mortgage Loans, all as more
specifically set forth in the Pooling and Servicing Agreement. As provided in
the Pooling and Servicing Agreement, withdrawals from the Certificate Account
shall be made from time to time for purposes other than distributions to
Certificateholders, such purposes including reimbursement of certain expenses
incurred with respect to the servicing of the Mortgage Loans and administration
of the Trust.

            All distributions under the Pooling and Servicing Agreement to a
nominee of The Depository Trust Company ("DTC") will be made by or on behalf of
the Paying Agent by wire transfer in immediately available funds to an account
specified in the request of such Certificateholder. All distributions under the
Pooling and Servicing Agreement to Certificateholders will be made by wire
transfer in immediately available funds to the account specified by the
Certificateholder, at a bank or other entity having appropriate facilities
therefor, if such Certificateholder will have provided the Paying Agent with
wiring instructions on or prior to the related Record Date or otherwise by check
mailed to such Certificateholder. Notwithstanding the above, the final
distribution on any Certificate will be made only upon presentation and
surrender of such Certificate at the location that will be specified in a notice
of the pendency of such final distribution.

            The Pooling and Servicing Agreement permits, with certain exceptions
therein provided, the amendment thereof and the modification of the rights and
obligations of the Certificateholders under the Pooling and Servicing Agreement
at any time by the parties thereto with the consent of the Holders of not less
than 51% of the Aggregate Certificate Balance of the Certificates then
outstanding, as specified in the Pooling and Servicing Agreement. Any such
consent by the Holder of this Certificate shall be conclusive and binding on
such Holder and upon all future Holders of this Certificate and of any
Certificate issued upon the transfer hereof or in exchange herefor or in lieu
hereof whether or not notation of such consent is made upon the Certificate. The
Pooling and Servicing Agreement also permits the amendment thereof, in certain
circumstances, without the consent of the Holders of any of the Certificates.

            As provided in the Pooling and Servicing Agreement and subject to
certain limitations therein set forth, the transfer of this Certificate is
registrable in the Certificate Register upon surrender of this Certificate for
registration of transfer at the Corporate Trust Office of the Certificate
Registrar, duly endorsed by, or accompanied by an assignment in the form below
or other written instrument of transfer in form satisfactory to the Certificate
Registrar duly executed by the Holder hereof or such Holder's attorney duly
authorized in writing, and thereupon one or more new Certificates of the same
Class in authorized denominations will be issued to the designated transferee or
transferees.

            Subject to the terms of the Pooling and Servicing Agreement, the
Certificates are issuable in fully registered form only, without coupons, in
minimum denominations specified in the Pooling and Servicing Agreement.

            As provided in the Pooling and Servicing Agreement and subject to
certain limitations therein set forth, Certificates are exchangeable for new
Certificates of the same Class in authorized denominations as requested by the
Holder surrendering the same. No service charge will be made for any such
registration of transfer or exchange but the Certificate Registrar may require
payment of a sum sufficient to cover any tax or other governmental charge that
may be imposed in connection with any transfer or exchange of Certificates.

            Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book entry facilities of DTC.

            The Depositor, the Trustee, the Fiscal Agent, the Paying Agent, the
Master Servicer, the Special Servicer and the Certificate Registrar and any of
their agents may treat the Person in whose name this Certificate is registered
as the owner hereof for all purposes, and neither the Depositor, the Trustee,
the Fiscal Agent, the Paying Agent, the Master Servicer, the Special Servicer,
the Certificate Registrar nor any such agents shall be affected by notice to the
contrary.

            The obligations and responsibilities of the Trustee and the Paying
Agent created hereby (other than the obligation of the Paying Agent to make
payments to the Certificateholders as set forth in Section 10.2 of the Pooling
and Servicing Agreement and other than the obligations in the nature of
information or tax reporting) shall terminate on the earliest of (i) the later
of (A) the final payment or other liquidation of the last Mortgage Loan
remaining in the Trust and (B) the disposition of all REO Property or (ii) the
sale of the property held by the Trust in accordance with Section 10.1(b) of the
Pooling and Servicing Agreement or (iii) the termination of the Trust pursuant
to Section 10.1(c) of the Pooling and Servicing Agreement; provided that in no
event shall the Trust continue beyond the expiration of 21 years from the death
of the last survivor of the descendants of Joseph P. Kennedy, the late
Ambassador of the United States to the Court of St. James, living on the date
hereof. The parties designated in the Pooling and Servicing Agreement may
exercise their option to purchase the Mortgage Loans and any other property
remaining in the Trust and cause the termination of the Trust in accordance with
the requirements set forth in the Pooling and Servicing Agreement. Upon
termination of the Trust and payment of the Certificates and of all
administrative expenses associated with the Trust, any remaining assets of the
Trust shall be distributed to the holders of the Residual Certificates.

            The Certificate Registrar has executed this Certificate under the
Pooling and Servicing Agreement.

            THIS CERTIFICATE AND THE POOLING AND SERVICING AGREEMENT SHALL BE
CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK
WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

<PAGE>

            IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed under this official seal.

                                        LASALLE BANK NATIONAL
                                           ASSOCIATION, as Certificate Registrar

                                        By:_____________________________________
                                                   AUTHORIZED SIGNATORY

Dated: June 27, 2002

                          CERTIFICATE OF AUTHENTICATION

            THIS IS ONE OF THE CLASS K CERTIFICATES REFERRED TO IN THE
WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

                                        LASALLE BANK NATIONAL
                                           ASSOCIATION,
                                           AUTHENTICATING AGENT

                                        By:_____________________________________
                                                   AUTHORIZED SIGNATORY

<PAGE>

                                  ABBREVIATIONS

The following abbreviations, when used in the inscription on the face of this
Certificate, shall be construed as though they were written out in full
according to applicable laws or regulations:

TEN COM - as tenant in common            UNIF GIFT MIN ACT.............Custodian
                                                             (Cust)
TEN ENT - as tenants by the entireties
                                              Under Uniform Gifts to Minors
JT TEN  - as joint tenants with
          rights of survivorship and
          not as tenants in common                Act..................
                                                         (State)

     Additional abbreviations may also be used though not in the above list.

                                FORM OF TRANSFER

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto

________________________________________________________________________________

____________________________________            PLEASE INSERT SOCIAL SECURITY OR
                                                OTHER IDENTIFYING NUMBER OF
____________________________________            ASSIGNEE

________________________________________________________________________________
             Please print or typewrite name and address of assignee

________________________________________________________________________________
the within Certificate and does hereby or irrevocably constitute and appoint

________________________________________________________________________________
to transfer the said Certificate in the Certificate Register of the within-named
Trust, with full power of substitution in the premises.

Dated:_________________________     ____________________________________________
                                    NOTICE: The signature to this assignment
                                    must correspond with the name as written
                                    upon the face of this Certificate in every
                                    particular without alteration or enlargement
                                    or any change whatever.

________________________________________
SIGNATURE GUARANTEED
The signature must be guaranteed by a
commercial bank or trust company or by a
member firm of the New York Stock
Exchange or another national securities
exchange. Notarized or witnessed
signatures are not acceptable.

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

            The assignee should include the following for purposes of
distribution:

            Distributions shall be made, by wire transfer or otherwise, in
immediately available funds to _____________ for the account of ________________
account number ______________ or, if mailed by check, to ______________________.
Statements should be mailed to ____________________. This information is
provided by assignee named above, or ______________________, as its agent.

<PAGE>

                     [TO BE ATTACHED TO GLOBAL CERTIFICATES]

                  SCHEDULE OF EXCHANGES OF GLOBAL CERTIFICATES

The following exchanges of a part of this Global Certificate have been made:

<PAGE>

                                  EXHIBIT A-14

                          [FORM OF CLASS L CERTIFICATE]

THIS CLASS L CERTIFICATE DOES NOT CONSTITUTE AN OBLIGATION OF OR AN INTEREST IN
THE SELLERS, THE DEPOSITOR, THE INITIAL PURCHASER, THE TRUSTEE, THE FISCAL
AGENT, THE CERTIFICATE REGISTRAR, THE PAYING AGENT, THE MASTER SERVICER, THE
SPECIAL SERVICER, THE PRIMARY SERVICERS OR ANY OF THEIR RESPECTIVE AFFILIATES,
AND WILL NOT BE INSURED OR GUARANTEED BY ANY SUCH ENTITY OR BY ANY GOVERNMENTAL
AGENCY.

THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED OR QUALIFIED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR THE SECURITIES
LAWS OF ANY STATE. ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE
WITHOUT SUCH REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION
WHICH DOES NOT REQUIRE SUCH REGISTRATION OR QUALIFICATION AND WHICH IS IN
ACCORDANCE WITH THE PROVISIONS OF SECTION 3.3 OF THE POOLING AND SERVICING
AGREEMENT REFERRED TO HEREIN.

THE INITIAL CERTIFICATE BALANCE HEREOF IS AS SET FORTH HEREIN, REDUCED OR
INCREASED AS SET FORTH IN THE SCHEDULE OF EXCHANGES ATTACHED HERETO.

THIS CLASS L CERTIFICATE IS SUBORDINATED IN RIGHT OF PAYMENT TO CERTAIN OTHER
CLASSES OF CERTIFICATES OF THIS SERIES TO THE EXTENT DESCRIBED IN THE POOLING
AND SERVICING AGREEMENT REFERRED TO HEREIN.

THE PORTION OF THE CERTIFICATE BALANCE OF THE CERTIFICATES EVIDENCED BY THIS
CERTIFICATE WILL BE DECREASED BY THE PORTION OF PRINCIPAL DISTRIBUTIONS,
REALIZED LOSSES AND CERTAIN EXPENSE LOSSES ON THE CERTIFICATES ALLOCABLE TO THIS
CLASS L CERTIFICATE. ACCORDINGLY, THE CERTIFICATE BALANCE OF THIS CERTIFICATE
MAY BE LESS THAN THAT SET FORTH BELOW. ANYONE ACQUIRING THIS CERTIFICATE MAY
ASCERTAIN ITS CURRENT CERTIFICATE BALANCE BY INQUIRY OF THE PAYING AGENT.

NO TRANSFER OF THIS CERTIFICATE TO A RETIREMENT PLAN OR OTHER EMPLOYEE BENEFIT
PLAN OR ARRANGEMENT THAT IS SUBJECT TO TITLE I OF THE EMPLOYEE RETIREMENT INCOME
SECURITY ACT OF 1974, AS AMENDED ("ERISA"), SECTION 4975 OF THE INTERNAL REVENUE
CODE OF 1986, AS AMENDED (THE "CODE"), OR APPLICABLE FEDERAL, STATE OR LOCAL LAW
("SIMILAR LAW") MATERIALLY SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE
CODE OR TO ANY PERSON WHO IS DIRECTLY OR INDIRECTLY PURCHASING THIS CERTIFICATE
ON BEHALF OF, AS NAMED FIDUCIARY OF, AS TRUSTEE OF, OR WITH ASSETS OF ANY SUCH
RETIREMENT PLAN OR OTHER EMPLOYEE BENEFIT PLAN OR ARRANGEMENT, WILL BE
REGISTERED EXCEPT IN COMPLIANCE WITH THE PROVISIONS OF SECTION 3.3 OF THE
POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO THE CERTIFICATE
REGISTRAR OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND
ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER
NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
HEREON IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED
OWNER HEREOF, CEDE & CO. HAS AN INTEREST HEREIN.

THIS CERTIFICATE REPRESENTS A "REGULAR INTEREST" IN A "REAL ESTATE MORTGAGE
INVESTMENT CONDUIT," AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G
AND 860d OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE").

[THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED
STATES SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT") AND, PRIOR TO
THE DATE THAT IS 40 DAYS AFTER THE OFFERING OF THE CERTIFICATES, MAY NOT BE
OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED IN THE UNITED STATES OR TO A
U.S. PERSON EXCEPT PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS
OF THE SECURITIES ACT.](1)

----------
(1)   For Reg S Book-Entry Certificates only

<PAGE>

                    MORGAN STANLEY DEAN WITTER CAPITAL I INC.
                 COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES,
                                 SERIES 2002-IQ2

INITIAL PASS-THROUGH RATE: 5.77%          MASTER SERVICER:  ORIX CAPITAL
                                          MARKETS, LLC

DATE OF POOLING AND SERVICING             SPECIAL SERVICER:  LEND LEASE ASSET
AGREEMENT:  AS OF JUNE 1, 2002            MANAGEMENT, L.P.

CUT-OFF DATE:  JUNE 1, 2002               PAYING AGENT: LASALLE BANK NATIONAL
                                          ASSOCIATION

CLOSING DATE: JUNE 27, 2002

FIRST DISTRIBUTION DATE: JULY 15, 2002    TRUSTEE:  LASALLE BANK NATIONAL
                                          ASSOCIATION

AGGREGATE CERTIFICATE BALANCE OF THE      FISCAL AGENT: ABN AMRO BANK N.V.
CLASS L CERTIFICATES AS OF THE CLOSING
DATE:  $3,893,000

CERTIFICATE BALANCE OF THIS CLASS L       CUSIP NO. [__________]
CERTIFICATE AS OF THE CLOSING DATE:
$[__________] (SUBJECT TO SCHEDULE OF
EXCHANGES ATTACHED)

No. L-1

                               CLASS L CERTIFICATE

evidencing a beneficial ownership interest in a Trust, consisting primarily of a
pool of commercial and multifamily mortgage loans (the "Mortgage Loans") and
certain other property, formed and sold by

                    MORGAN STANLEY DEAN WITTER CAPITAL I INC.

            THIS CERTIFIES THAT CEDE & CO. is the registered owner of the
interest evidenced by this Certificate in the Class L Certificates issued by the
Trust created pursuant to the Pooling and Servicing Agreement, dated as
specified above (the "Pooling and Servicing Agreement"), among Morgan Stanley
Dean Witter Capital I Inc. (hereinafter called the "Depositor", which term
includes any successor entity under the Pooling and Servicing Agreement), the
Trustee, the Fiscal Agent, the Paying Agent, the Certificate Registrar, the
Master Servicer and the Special Servicer, a summary of certain of the pertinent
provisions of which is set forth hereafter. The Trust consists primarily of the
Mortgage Loans, such amounts as shall from time to time be held in the
Certificate Account and Distribution Account, the Insurance Policies and any REO
Properties. To the extent not defined herein, the capitalized terms used herein
have the meanings assigned in the Pooling and Servicing Agreement.

            This Certificate is one of a duly authorized issue of Certificates
designated as Certificates of the series specified on the face hereof (herein
called the "Certificates") and representing an interest in the Class of
Certificates specified on the face hereof equal to the quotient expressed as a
percentage obtained by dividing the Certificate Balance of this Certificate
specified on the face hereof by the aggregate initial Certificate Balance of the
Class L Certificates. The Certificates are designated as the Morgan Stanley Dean
Witter Capital I Inc., Commercial Mortgage Pass-Through Certificates, Series
2002-IQ2 and are issued in the Classes specified in the Pooling and Servicing
Agreement. The Certificates will evidence in the aggregate 100% of the
beneficial ownership of the Trust.

            This Certificate does not purport to summarize the Pooling and
Servicing Agreement and reference is made to that Agreement for information with
respect to the interests, rights, benefits, obligations, proceeds, and duties
evidenced hereby and the rights, duties and obligations of the Trustee and the
Paying Agent. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Pooling and Servicing Agreement, to which
Pooling and Servicing Agreement, as amended from time to time, the
Certificateholder by virtue of the acceptance hereof assents and by which the
Certificateholder is bound. In the case of any conflict between terms specified
in this Certificate and terms specified in the Pooling and Servicing Agreement,
the terms of the Pooling and Servicing Agreement shall govern.

            Distributions of principal of and interest on this Certificate will
be made out of the Available Distribution Amount, to the extent and subject to
the limitations set forth in the Pooling and Servicing Agreement, on the 15th
day of each month or, if such 15th day is not a Business Day, the next
succeeding Business Day (a "Distribution Date") commencing on the first
Distribution Date specified above, to the Person in whose name this Certificate
is registered at the close of business on the last Business Day of the month
immediately preceding the month of such distribution (the "Record Date"). All
sums distributable on this Certificate are payable in the coin or currency of
the United States of America as at the time of payment is legal tender for the
payment of public and private debts.

            Interest on this Certificate will accrue (computed as if each year
consisted of 360 days and each month consisted of 30 days) during the Interest
Accrual Period relating to such Distribution Date at the Pass-Through Rate on
the Certificate Balance of this Certificate immediately prior to each
Distribution Date. Principal and interest allocated to this Certificate on any
Distribution Date will be in an amount due to this Certificate's pro rata share
of the amount to be distributed on the Certificates of this Class as of such
Distribution Date, with a final distribution to be made upon retirement of this
Certificate as set forth in the Pooling and Servicing Agreement.

            Unless the certificate of authentication hereon has been executed by
the Authenticating Agent, by manual signature, this Certificate shall not be
entitled to any benefit under the Pooling and Servicing Agreement or be valid
for any purpose.

            Realized Losses, Expense Losses and interest shortfalls on the
Mortgage Loans shall be allocated on the applicable Distribution Date to
Certificateholders in the manner set forth in the Pooling and Servicing
Agreement. All Realized Losses, Expense Losses and interest shortfalls on the
Mortgage Loans allocated to any Class of Certificates will be allocated pro rata
among the outstanding Certificates of such Class.

            The Certificates are limited in right of payment to certain
collections and recoveries respecting the Mortgage Loans, all as more
specifically set forth in the Pooling and Servicing Agreement. As provided in
the Pooling and Servicing Agreement, withdrawals from the Certificate Account
shall be made from time to time for purposes other than distributions to
Certificateholders, such purposes including reimbursement of certain expenses
incurred with respect to the servicing of the Mortgage Loans and administration
of the Trust.

            All distributions under the Pooling and Servicing Agreement to a
nominee of The Depository Trust Company ("DTC") will be made by or on behalf of
the Paying Agent by wire transfer in immediately available funds to an account
specified in the request of such Certificateholder. All distributions under the
Pooling and Servicing Agreement to Certificateholders will be made by wire
transfer in immediately available funds to the account specified by the
Certificateholder, at a bank or other entity having appropriate facilities
therefor, if such Certificateholder will have provided the Paying Agent with
wiring instructions on or prior to the related Record Date or otherwise by check
mailed to such Certificateholder. Notwithstanding the above, the final
distribution on any Certificate will be made only upon presentation and
surrender of such Certificate at the location that will be specified in a notice
of the pendency of such final distribution.

            The Pooling and Servicing Agreement permits, with certain exceptions
therein provided, the amendment thereof and the modification of the rights and
obligations of the Certificateholders under the Pooling and Servicing Agreement
at any time by the parties thereto with the consent of the Holders of not less
than 51% of the Aggregate Certificate Balance of the Certificates then
outstanding, as specified in the Pooling and Servicing Agreement. Any such
consent by the Holder of this Certificate shall be conclusive and binding on
such Holder and upon all future Holders of this Certificate and of any
Certificate issued upon the transfer hereof or in exchange herefor or in lieu
hereof whether or not notation of such consent is made upon the Certificate. The
Pooling and Servicing Agreement also permits the amendment thereof, in certain
circumstances, without the consent of the Holders of any of the Certificates.

            As provided in the Pooling and Servicing Agreement and subject to
certain limitations therein set forth, the transfer of this Certificate is
registrable in the Certificate Register upon surrender of this Certificate for
registration of transfer at the Corporate Trust Office of the Certificate
Registrar, duly endorsed by, or accompanied by an assignment in the form below
or other written instrument of transfer in form satisfactory to the Certificate
Registrar duly executed by the Holder hereof or such Holder's attorney duly
authorized in writing, and thereupon one or more new Certificates of the same
Class in authorized denominations will be issued to the designated transferee or
transferees.

            Subject to the terms of the Pooling and Servicing Agreement, the
Certificates are issuable in fully registered form only, without coupons, in
minimum denominations specified in the Pooling and Servicing Agreement.

            As provided in the Pooling and Servicing Agreement and subject to
certain limitations therein set forth, Certificates are exchangeable for new
Certificates of the same Class in authorized denominations as requested by the
Holder surrendering the same. No service charge will be made for any such
registration of transfer or exchange but the Certificate Registrar may require
payment of a sum sufficient to cover any tax or other governmental charge that
may be imposed in connection with any transfer or exchange of Certificates.

            Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book entry facilities of DTC.

            The Depositor, the Trustee, the Fiscal Agent, the Paying Agent, the
Master Servicer, the Special Servicer and the Certificate Registrar and any of
their agents may treat the Person in whose name this Certificate is registered
as the owner hereof for all purposes, and neither the Depositor, the Trustee,
the Fiscal Agent, the Paying Agent, the Master Servicer, the Special Servicer,
the Certificate Registrar nor any such agents shall be affected by notice to the
contrary.

            The obligations and responsibilities of the Trustee and the Paying
Agent created hereby (other than the obligation of the Paying Agent to make
payments to the Certificateholders as set forth in Section 10.2 of the Pooling
and Servicing Agreement and other than the obligations in the nature of
information or tax reporting) shall terminate on the earliest of (i) the later
of (A) the final payment or other liquidation of the last Mortgage Loan
remaining in the Trust and (B) the disposition of all REO Property or (ii) the
sale of the property held by the Trust in accordance with Section 10.1(b) of the
Pooling and Servicing Agreement or (iii) the termination of the Trust pursuant
to Section 10.1(c) of the Pooling and Servicing Agreement; provided that in no
event shall the Trust continue beyond the expiration of 21 years from the death
of the last survivor of the descendants of Joseph P. Kennedy, the late
Ambassador of the United States to the Court of St. James, living on the date
hereof. The parties designated in the Pooling and Servicing Agreement may
exercise their option to purchase the Mortgage Loans and any other property
remaining in the Trust and cause the termination of the Trust in accordance with
the requirements set forth in the Pooling and Servicing Agreement. Upon
termination of the Trust and payment of the Certificates and of all
administrative expenses associated with the Trust, any remaining assets of the
Trust shall be distributed to the holders of the Residual Certificates.

            The Certificate Registrar has executed this Certificate under the
Pooling and Servicing Agreement.

            THIS CERTIFICATE AND THE POOLING AND SERVICING AGREEMENT SHALL BE
CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK
WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

<PAGE>

            IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed under this official seal.

                                        LASALLE BANK NATIONAL
                                           ASSOCIATION, as Certificate Registrar

                                        By:_____________________________________
                                                   AUTHORIZED SIGNATORY

Dated: June 27, 2002

                          CERTIFICATE OF AUTHENTICATION

            THIS IS ONE OF THE CLASS L CERTIFICATES REFERRED TO IN THE
WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

                                        LASALLE BANK NATIONAL
                                           ASSOCIATION,
                                           AUTHENTICATING AGENT

                                        By:_____________________________________
                                                   AUTHORIZED SIGNATORY

<PAGE>

                                  ABBREVIATIONS

The following abbreviations, when used in the inscription on the face of this
Certificate, shall be construed as though they were written out in full
according to applicable laws or regulations:

TEN COM - as tenant in common            UNIF GIFT MIN ACT.............Custodian
                                                             (Cust)
TEN ENT - as tenants by the entireties
                                              Under Uniform Gifts to Minors
JT TEN  - as joint tenants with
          rights of survivorship and
          not as tenants in common                Act..................
                                                         (State)

     Additional abbreviations may also be used though not in the above list.

                                FORM OF TRANSFER

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto

________________________________________________________________________________

____________________________________            PLEASE INSERT SOCIAL SECURITY OR
                                                OTHER IDENTIFYING NUMBER OF
____________________________________            ASSIGNEE

________________________________________________________________________________
             Please print or typewrite name and address of assignee

________________________________________________________________________________
the within Certificate and does hereby or irrevocably constitute and appoint

________________________________________________________________________________
to transfer the said Certificate in the Certificate Register of the within-named
Trust, with full power of substitution in the premises.

Dated:_________________________     ____________________________________________
                                    NOTICE: The signature to this assignment
                                    must correspond with the name as written
                                    upon the face of this Certificate in every
                                    particular without alteration or enlargement
                                    or any change whatever.

________________________________________
SIGNATURE GUARANTEED
The signature must be guaranteed by a
commercial bank or trust company or by a
member firm of the New York Stock
Exchange or another national securities
exchange. Notarized or witnessed
signatures are not acceptable.

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

            The assignee should include the following for purposes of
distribution:

            Distributions shall be made, by wire transfer or otherwise, in
immediately available funds to _____________ for the account of ________________
account number ______________ or, if mailed by check, to ______________________.
Statements should be mailed to ____________________. This information is
provided by assignee named above, or ______________________, as its agent.

<PAGE>

                     [TO BE ATTACHED TO GLOBAL CERTIFICATES]

                  SCHEDULE OF EXCHANGES OF GLOBAL CERTIFICATES

The following exchanges of a part of this Global Certificate have been made:

<PAGE>

                                  EXHIBIT A-15

                          [FORM OF CLASS M CERTIFICATE]

THIS CLASS M CERTIFICATE DOES NOT CONSTITUTE AN OBLIGATION OF OR AN INTEREST IN
THE SELLERS, THE DEPOSITOR, THE INITIAL PURCHASER, THE TRUSTEE, THE FISCAL
AGENT, THE CERTIFICATE REGISTRAR, THE PAYING AGENT, THE MASTER SERVICER, THE
SPECIAL SERVICER, THE PRIMARY SERVICERS OR ANY OF THEIR RESPECTIVE AFFILIATES,
AND WILL NOT BE INSURED OR GUARANTEED BY ANY SUCH ENTITY OR BY ANY GOVERNMENTAL
AGENCY.

THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED OR QUALIFIED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR THE SECURITIES
LAWS OF ANY STATE. ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE
WITHOUT SUCH REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION
WHICH DOES NOT REQUIRE SUCH REGISTRATION OR QUALIFICATION AND WHICH IS IN
ACCORDANCE WITH THE PROVISIONS OF SECTION 3.3 OF THE POOLING AND SERVICING
AGREEMENT REFERRED TO HEREIN.

THE INITIAL CERTIFICATE BALANCE HEREOF IS AS SET FORTH HEREIN, REDUCED OR
INCREASED AS SET FORTH IN THE SCHEDULE OF EXCHANGES ATTACHED HERETO.

THIS CLASS M CERTIFICATE IS SUBORDINATED IN RIGHT OF PAYMENT TO CERTAIN OTHER
CLASSES OF CERTIFICATES OF THIS SERIES TO THE EXTENT DESCRIBED IN THE POOLING
AND SERVICING AGREEMENT REFERRED TO HEREIN.

THE PORTION OF THE CERTIFICATE BALANCE OF THE CERTIFICATES EVIDENCED BY THIS
CERTIFICATE WILL BE DECREASED BY THE PORTION OF PRINCIPAL DISTRIBUTIONS,
REALIZED LOSSES AND CERTAIN EXPENSE LOSSES ON THE CERTIFICATES ALLOCABLE TO THIS
CLASS M CERTIFICATE. ACCORDINGLY, THE CERTIFICATE BALANCE OF THIS CERTIFICATE
MAY BE LESS THAN THAT SET FORTH BELOW. ANYONE ACQUIRING THIS CERTIFICATE MAY
ASCERTAIN ITS CURRENT CERTIFICATE BALANCE BY INQUIRY OF THE PAYING AGENT.

NO TRANSFER OF THIS CERTIFICATE TO A RETIREMENT PLAN OR OTHER EMPLOYEE BENEFIT
PLAN OR ARRANGEMENT THAT IS SUBJECT TO TITLE I OF THE EMPLOYEE RETIREMENT INCOME
SECURITY ACT OF 1974, AS AMENDED ("ERISA"), SECTION 4975 OF THE INTERNAL REVENUE
CODE OF 1986, AS AMENDED (THE "CODE"), OR APPLICABLE FEDERAL, STATE OR LOCAL LAW
("SIMILAR LAW") MATERIALLY SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE
CODE OR TO ANY PERSON WHO IS DIRECTLY OR INDIRECTLY PURCHASING THIS CERTIFICATE
ON BEHALF OF, AS NAMED FIDUCIARY OF, AS TRUSTEE OF, OR WITH ASSETS OF ANY SUCH
RETIREMENT PLAN OR OTHER EMPLOYEE BENEFIT PLAN OR ARRANGEMENT, WILL BE
REGISTERED EXCEPT IN COMPLIANCE WITH THE PROVISIONS OF SECTION 3.3 OF THE
POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO THE CERTIFICATE
REGISTRAR OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND
ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER
NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
HEREON IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED
OWNER HEREOF, CEDE & CO. HAS AN INTEREST HEREIN.

THIS CERTIFICATE REPRESENTS A "REGULAR INTEREST" IN A "REAL ESTATE MORTGAGE
INVESTMENT CONDUIT," AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G
AND 860d OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE").

[THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED
STATES SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT") AND, PRIOR TO
THE DATE THAT IS 40 DAYS AFTER THE OFFERING OF THE CERTIFICATES, MAY NOT BE
OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED IN THE UNITED STATES OR TO A
U.S. PERSON EXCEPT PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS
OF THE SECURITIES ACT.](1)

----------
(1)   For Reg S Book-Entry Certificates only

<PAGE>

                    MORGAN STANLEY DEAN WITTER CAPITAL I INC.
                 COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES,
                                 SERIES 2002-IQ2

INITIAL PASS-THROUGH RATE: 5.77%          MASTER SERVICER:  ORIX CAPITAL
                                          MARKETS, LLC

DATE OF POOLING AND SERVICING             SPECIAL SERVICER:  LEND LEASE ASSET
AGREEMENT:  AS OF JUNE 1, 2002            MANAGEMENT, L.P.

CUT-OFF DATE:  JUNE 1, 2002               PAYING AGENT: LASALLE BANK NATIONAL
                                          ASSOCIATION

CLOSING DATE: JUNE 27, 2002

FIRST DISTRIBUTION DATE: JULY 15, 2002    TRUSTEE:  LASALLE BANK NATIONAL
                                          ASSOCIATION

AGGREGATE CERTIFICATE BALANCE OF THE      FISCAL AGENT: ABN AMRO BANK N.V.
CLASS M CERTIFICATES AS OF THE CLOSING
DATE:  $2,920,000

CERTIFICATE BALANCE OF THIS CLASS M       CUSIP NO. [__________]
CERTIFICATE AS OF THE CLOSING DATE:
$[__________] (SUBJECT TO SCHEDULE OF
EXCHANGES ATTACHED)

No. M-1

                               CLASS M CERTIFICATE

evidencing a beneficial ownership interest in a Trust, consisting primarily of a
pool of commercial and multifamily mortgage loans (the "Mortgage Loans") and
certain other property, formed and sold by

                    MORGAN STANLEY DEAN WITTER CAPITAL I INC.

            THIS CERTIFIES THAT CEDE & CO. is the registered owner of the
interest evidenced by this Certificate in the Class M Certificates issued by the
Trust created pursuant to the Pooling and Servicing Agreement, dated as
specified above (the "Pooling and Servicing Agreement"), among Morgan Stanley
Dean Witter Capital I Inc. (hereinafter called the "Depositor", which term
includes any successor entity under the Pooling and Servicing Agreement), the
Trustee, the Fiscal Agent, the Paying Agent, the Certificate Registrar, the
Master Servicer and the Special Servicer, a summary of certain of the pertinent
provisions of which is set forth hereafter. The Trust consists primarily of the
Mortgage Loans, such amounts as shall from time to time be held in the
Certificate Account and Distribution Account, the Insurance Policies and any REO
Properties. To the extent not defined herein, the capitalized terms used herein
have the meanings assigned in the Pooling and Servicing Agreement.

            This Certificate is one of a duly authorized issue of Certificates
designated as Certificates of the series specified on the face hereof (herein
called the "Certificates") and representing an interest in the Class of
Certificates specified on the face hereof equal to the quotient expressed as a
percentage obtained by dividing the Certificate Balance of this Certificate
specified on the face hereof by the aggregate initial Certificate Balance of the
Class M Certificates. The Certificates are designated as the Morgan Stanley Dean
Witter Capital I Inc., Commercial Mortgage Pass-Through Certificates, Series
2002-IQ2 and are issued in the Classes specified in the Pooling and Servicing
Agreement. The Certificates will evidence in the aggregate 100% of the
beneficial ownership of the Trust.

            This Certificate does not purport to summarize the Pooling and
Servicing Agreement and reference is made to that Agreement for information with
respect to the interests, rights, benefits, obligations, proceeds, and duties
evidenced hereby and the rights, duties and obligations of the Trustee and the
Paying Agent. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Pooling and Servicing Agreement, to which
Pooling and Servicing Agreement, as amended from time to time, the
Certificateholder by virtue of the acceptance hereof assents and by which the
Certificateholder is bound. In the case of any conflict between terms specified
in this Certificate and terms specified in the Pooling and Servicing Agreement,
the terms of the Pooling and Servicing Agreement shall govern.

            Distributions of principal of and interest on this Certificate will
be made out of the Available Distribution Amount, to the extent and subject to
the limitations set forth in the Pooling and Servicing Agreement, on the 15th
day of each month or, if such 15th day is not a Business Day, the next
succeeding Business Day (a "Distribution Date") commencing on the first
Distribution Date specified above, to the Person in whose name this Certificate
is registered at the close of business on the last Business Day of the month
immediately preceding the month of such distribution (the "Record Date"). All
sums distributable on this Certificate are payable in the coin or currency of
the United States of America as at the time of payment is legal tender for the
payment of public and private debts.

            Interest on this Certificate will accrue (computed as if each year
consisted of 360 days and each month consisted of 30 days) during the Interest
Accrual Period relating to such Distribution Date at the Pass-Through Rate on
the Certificate Balance of this Certificate immediately prior to each
Distribution Date. Principal and interest allocated to this Certificate on any
Distribution Date will be in an amount due to this Certificate's pro rata share
of the amount to be distributed on the Certificates of this Class as of such
Distribution Date, with a final distribution to be made upon retirement of this
Certificate as set forth in the Pooling and Servicing Agreement.

            Unless the certificate of authentication hereon has been executed by
the Authenticating Agent, by manual signature, this Certificate shall not be
entitled to any benefit under the Pooling and Servicing Agreement or be valid
for any purpose.

            Realized Losses, Expense Losses and interest shortfalls on the
Mortgage Loans shall be allocated on the applicable Distribution Date to
Certificateholders in the manner set forth in the Pooling and Servicing
Agreement. All Realized Losses, Expense Losses and interest shortfalls on the
Mortgage Loans allocated to any Class of Certificates will be allocated pro rata
among the outstanding Certificates of such Class.

            The Certificates are limited in right of payment to certain
collections and recoveries respecting the Mortgage Loans, all as more
specifically set forth in the Pooling and Servicing Agreement. As provided in
the Pooling and Servicing Agreement, withdrawals from the Certificate Account
shall be made from time to time for purposes other than distributions to
Certificateholders, such purposes including reimbursement of certain expenses
incurred with respect to the servicing of the Mortgage Loans and administration
of the Trust.

            All distributions under the Pooling and Servicing Agreement to a
nominee of The Depository Trust Company ("DTC") will be made by or on behalf of
the Paying Agent by wire transfer in immediately available funds to an account
specified in the request of such Certificateholder. All distributions under the
Pooling and Servicing Agreement to Certificateholders will be made by wire
transfer in immediately available funds to the account specified by the
Certificateholder, at a bank or other entity having appropriate facilities
therefor, if such Certificateholder will have provided the Paying Agent with
wiring instructions on or prior to the related Record Date or otherwise by check
mailed to such Certificateholder. Notwithstanding the above, the final
distribution on any Certificate will be made only upon presentation and
surrender of such Certificate at the location that will be specified in a notice
of the pendency of such final distribution.

            The Pooling and Servicing Agreement permits, with certain exceptions
therein provided, the amendment thereof and the modification of the rights and
obligations of the Certificateholders under the Pooling and Servicing Agreement
at any time by the parties thereto with the consent of the Holders of not less
than 51% of the Aggregate Certificate Balance of the Certificates then
outstanding, as specified in the Pooling and Servicing Agreement. Any such
consent by the Holder of this Certificate shall be conclusive and binding on
such Holder and upon all future Holders of this Certificate and of any
Certificate issued upon the transfer hereof or in exchange herefor or in lieu
hereof whether or not notation of such consent is made upon the Certificate. The
Pooling and Servicing Agreement also permits the amendment thereof, in certain
circumstances, without the consent of the Holders of any of the Certificates.

            As provided in the Pooling and Servicing Agreement and subject to
certain limitations therein set forth, the transfer of this Certificate is
registrable in the Certificate Register upon surrender of this Certificate for
registration of transfer at the Corporate Trust Office of the Certificate
Registrar, duly endorsed by, or accompanied by an assignment in the form below
or other written instrument of transfer in form satisfactory to the Certificate
Registrar duly executed by the Holder hereof or such Holder's attorney duly
authorized in writing, and thereupon one or more new Certificates of the same
Class in authorized denominations will be issued to the designated transferee or
transferees.

            Subject to the terms of the Pooling and Servicing Agreement, the
Certificates are issuable in fully registered form only, without coupons, in
minimum denominations specified in the Pooling and Servicing Agreement.

            As provided in the Pooling and Servicing Agreement and subject to
certain limitations therein set forth, Certificates are exchangeable for new
Certificates of the same Class in authorized denominations as requested by the
Holder surrendering the same. No service charge will be made for any such
registration of transfer or exchange but the Certificate Registrar may require
payment of a sum sufficient to cover any tax or other governmental charge that
may be imposed in connection with any transfer or exchange of Certificates.

            Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book entry facilities of DTC.

            The Depositor, the Trustee, the Fiscal Agent, the Paying Agent, the
Master Servicer, the Special Servicer and the Certificate Registrar and any of
their agents may treat the Person in whose name this Certificate is registered
as the owner hereof for all purposes, and neither the Depositor, the Trustee,
the Fiscal Agent, the Paying Agent, the Master Servicer, the Special Servicer,
the Certificate Registrar nor any such agents shall be affected by notice to the
contrary.

            The obligations and responsibilities of the Trustee and the Paying
Agent created hereby (other than the obligation of the Paying Agent to make
payments to the Certificateholders as set forth in Section 10.2 of the Pooling
and Servicing Agreement and other than the obligations in the nature of
information or tax reporting) shall terminate on the earliest of (i) the later
of (A) the final payment or other liquidation of the last Mortgage Loan
remaining in the Trust and (B) the disposition of all REO Property or (ii) the
sale of the property held by the Trust in accordance with Section 10.1(b) of the
Pooling and Servicing Agreement or (iii) the termination of the Trust pursuant
to Section 10.1(c) of the Pooling and Servicing Agreement; provided that in no
event shall the Trust continue beyond the expiration of 21 years from the death
of the last survivor of the descendants of Joseph P. Kennedy, the late
Ambassador of the United States to the Court of St. James, living on the date
hereof. The parties designated in the Pooling and Servicing Agreement may
exercise their option to purchase the Mortgage Loans and any other property
remaining in the Trust and cause the termination of the Trust in accordance with
the requirements set forth in the Pooling and Servicing Agreement. Upon
termination of the Trust and payment of the Certificates and of all
administrative expenses associated with the Trust, any remaining assets of the
Trust shall be distributed to the holders of the Residual Certificates.

            The Certificate Registrar has executed this Certificate under the
Pooling and Servicing Agreement.

            THIS CERTIFICATE AND THE POOLING AND SERVICING AGREEMENT SHALL BE
CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK
WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

<PAGE>

            IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed under this official seal.

                                        LASALLE BANK NATIONAL
                                           ASSOCIATION, as Certificate Registrar

                                        By:_____________________________________
                                                   AUTHORIZED SIGNATORY

Dated: June 27, 2002

                          CERTIFICATE OF AUTHENTICATION

            THIS IS ONE OF THE CLASS M CERTIFICATES REFERRED TO IN THE
WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

                                        LASALLE BANK NATIONAL
                                           ASSOCIATION,
                                           AUTHENTICATING AGENT

                                        By:_____________________________________
                                                   AUTHORIZED SIGNATORY

<PAGE>

                                  ABBREVIATIONS

The following abbreviations, when used in the inscription on the face of this
Certificate, shall be construed as though they were written out in full
according to applicable laws or regulations:

TEN COM - as tenant in common            UNIF GIFT MIN ACT.............Custodian
                                                             (Cust)
TEN ENT - as tenants by the entireties
                                              Under Uniform Gifts to Minors
JT TEN  - as joint tenants with
          rights of survivorship and
          not as tenants in common                Act..................
                                                         (State)

     Additional abbreviations may also be used though not in the above list.

                                FORM OF TRANSFER

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto

________________________________________________________________________________

____________________________________            PLEASE INSERT SOCIAL SECURITY OR
                                                OTHER IDENTIFYING NUMBER OF
____________________________________            ASSIGNEE

________________________________________________________________________________
             Please print or typewrite name and address of assignee

________________________________________________________________________________
the within Certificate and does hereby or irrevocably constitute and appoint

________________________________________________________________________________
to transfer the said Certificate in the Certificate Register of the within-named
Trust, with full power of substitution in the premises.

Dated:_________________________     ____________________________________________
                                    NOTICE: The signature to this assignment
                                    must correspond with the name as written
                                    upon the face of this Certificate in every
                                    particular without alteration or enlargement
                                    or any change whatever.

________________________________________
SIGNATURE GUARANTEED
The signature must be guaranteed by a
commercial bank or trust company or by a
member firm of the New York Stock
Exchange or another national securities
exchange. Notarized or witnessed
signatures are not acceptable.

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

            The assignee should include the following for purposes of
distribution:

            Distributions shall be made, by wire transfer or otherwise, in
immediately available funds to _____________ for the account of ________________
account number ______________ or, if mailed by check, to ______________________.
Statements should be mailed to ____________________. This information is
provided by assignee named above, or ______________________, as its agent.

<PAGE>

                     [TO BE ATTACHED TO GLOBAL CERTIFICATES]

                  SCHEDULE OF EXCHANGES OF GLOBAL CERTIFICATES

The following exchanges of a part of this Global Certificate have been made:

<PAGE>

                                  EXHIBIT A-16

                          [FORM OF CLASS N CERTIFICATE]

THIS CLASS N CERTIFICATE DOES NOT CONSTITUTE AN OBLIGATION OF OR AN INTEREST IN
THE SELLERS, THE DEPOSITOR, THE INITIAL PURCHASER, THE TRUSTEE, THE FISCAL
AGENT, THE CERTIFICATE REGISTRAR, THE PAYING AGENT, THE MASTER SERVICER, THE
SPECIAL SERVICER, THE PRIMARY SERVICERS OR ANY OF THEIR RESPECTIVE AFFILIATES,
AND WILL NOT BE INSURED OR GUARANTEED BY ANY SUCH ENTITY OR BY ANY GOVERNMENTAL
AGENCY.

THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED OR QUALIFIED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR THE SECURITIES
LAWS OF ANY STATE. ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE
WITHOUT SUCH REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION
WHICH DOES NOT REQUIRE SUCH REGISTRATION OR QUALIFICATION AND WHICH IS IN
ACCORDANCE WITH THE PROVISIONS OF SECTION 3.3 OF THE POOLING AND SERVICING
AGREEMENT REFERRED TO HEREIN.

THE INITIAL CERTIFICATE BALANCE HEREOF IS AS SET FORTH HEREIN, REDUCED OR
INCREASED AS SET FORTH IN THE SCHEDULE OF EXCHANGES ATTACHED HERETO.

THIS CLASS N CERTIFICATE IS SUBORDINATED IN RIGHT OF PAYMENT TO CERTAIN OTHER
CLASSES OF CERTIFICATES OF THIS SERIES TO THE EXTENT DESCRIBED IN THE POOLING
AND SERVICING AGREEMENT REFERRED TO HEREIN.

THE PORTION OF THE CERTIFICATE BALANCE OF THE CERTIFICATES EVIDENCED BY THIS
CERTIFICATE WILL BE DECREASED BY THE PORTION OF PRINCIPAL DISTRIBUTIONS,
REALIZED LOSSES AND CERTAIN EXPENSE LOSSES ON THE CERTIFICATES ALLOCABLE TO THIS
CLASS N CERTIFICATE. ACCORDINGLY, THE CERTIFICATE BALANCE OF THIS CERTIFICATE
MAY BE LESS THAN THAT SET FORTH BELOW. ANYONE ACQUIRING THIS CERTIFICATE MAY
ASCERTAIN ITS CURRENT CERTIFICATE BALANCE BY INQUIRY OF THE PAYING AGENT.

NO TRANSFER OF THIS CERTIFICATE TO A RETIREMENT PLAN OR OTHER EMPLOYEE BENEFIT
PLAN OR ARRANGEMENT THAT IS SUBJECT TO TITLE I OF THE EMPLOYEE RETIREMENT INCOME
SECURITY ACT OF 1974, AS AMENDED ("ERISA"), SECTION 4975 OF THE INTERNAL REVENUE
CODE OF 1986, AS AMENDED (THE "CODE"), OR APPLICABLE FEDERAL, STATE OR LOCAL LAW
("SIMILAR LAW") MATERIALLY SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE
CODE OR TO ANY PERSON WHO IS DIRECTLY OR INDIRECTLY PURCHASING THIS CERTIFICATE
ON BEHALF OF, AS NAMED FIDUCIARY OF, AS TRUSTEE OF, OR WITH ASSETS OF ANY SUCH
RETIREMENT PLAN OR OTHER EMPLOYEE BENEFIT PLAN OR ARRANGEMENT, WILL BE
REGISTERED EXCEPT IN COMPLIANCE WITH THE PROVISIONS OF SECTION 3.3 OF THE
POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO THE CERTIFICATE
REGISTRAR OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND
ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER
NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
HEREON IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED
OWNER HEREOF, CEDE & CO. HAS AN INTEREST HEREIN.

THIS CERTIFICATE REPRESENTS A "REGULAR INTEREST" IN A "REAL ESTATE MORTGAGE
INVESTMENT CONDUIT," AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G
AND 860d OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE").

[THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED
STATES SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT") AND, PRIOR TO
THE DATE THAT IS 40 DAYS AFTER THE OFFERING OF THE CERTIFICATES, MAY NOT BE
OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED IN THE UNITED STATES OR TO A
U.S. PERSON EXCEPT PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS
OF THE SECURITIES ACT.](1)

----------
(1)   For Reg S Book-Entry Certificates only

<PAGE>

                    MORGAN STANLEY DEAN WITTER CAPITAL I INC.
                 COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES,
                                 SERIES 2002-IQ2

INITIAL PASS-THROUGH RATE: 5.77%          MASTER SERVICER:  ORIX CAPITAL
                                          MARKETS, LLC

DATE OF POOLING AND SERVICING             SPECIAL SERVICER:  LEND LEASE ASSET
AGREEMENT:  AS OF JUNE 1, 2002            MANAGEMENT, L.P.

CUT-OFF DATE:  JUNE 1, 2002               PAYING AGENT: LASALLE BANK NATIONAL
                                          ASSOCIATION

CLOSING DATE: JUNE 27, 2002

FIRST DISTRIBUTION DATE: JULY 15, 2002    TRUSTEE:  LASALLE BANK NATIONAL
                                          ASSOCIATION

AGGREGATE CERTIFICATE BALANCE OF THE      FISCAL AGENT: ABN AMRO BANK N.V.
CLASS N CERTIFICATES AS OF THE CLOSING
DATE:  $2,919,000

CERTIFICATE BALANCE OF THIS CLASS N       CUSIP NO. [__________]
CERTIFICATE AS OF THE CLOSING DATE:
$[__________] (SUBJECT TO SCHEDULE OF
EXCHANGES ATTACHED)

No. N-1

                               CLASS N CERTIFICATE

evidencing a beneficial ownership interest in a Trust, consisting primarily of a
pool of commercial and multifamily mortgage loans (the "Mortgage Loans") and
certain other property, formed and sold by

                    MORGAN STANLEY DEAN WITTER CAPITAL I INC.

            THIS CERTIFIES THAT CEDE & CO. is the registered owner of the
interest evidenced by this Certificate in the Class N Certificates issued by the
Trust created pursuant to the Pooling and Servicing Agreement, dated as
specified above (the "Pooling and Servicing Agreement"), among Morgan Stanley
Dean Witter Capital I Inc. (hereinafter called the "Depositor", which term
includes any successor entity under the Pooling and Servicing Agreement), the
Trustee, the Fiscal Agent, the Paying Agent, the Certificate Registrar, the
Master Servicer and the Special Servicer, a summary of certain of the pertinent
provisions of which is set forth hereafter. The Trust consists primarily of the
Mortgage Loans, such amounts as shall from time to time be held in the
Certificate Account and Distribution Account, the Insurance Policies and any REO
Properties. To the extent not defined herein, the capitalized terms used herein
have the meanings assigned in the Pooling and Servicing Agreement.

            This Certificate is one of a duly authorized issue of Certificates
designated as Certificates of the series specified on the face hereof (herein
called the "Certificates") and representing an interest in the Class of
Certificates specified on the face hereof equal to the quotient expressed as a
percentage obtained by dividing the Certificate Balance of this Certificate
specified on the face hereof by the aggregate initial Certificate Balance of the
Class N Certificates. The Certificates are designated as the Morgan Stanley Dean
Witter Capital I Inc., Commercial Mortgage Pass-Through Certificates, Series
2002-IQ2 and are issued in the Classes specified in the Pooling and Servicing
Agreement. The Certificates will evidence in the aggregate 100% of the
beneficial ownership of the Trust.

            This Certificate does not purport to summarize the Pooling and
Servicing Agreement and reference is made to that Agreement for information with
respect to the interests, rights, benefits, obligations, proceeds, and duties
evidenced hereby and the rights, duties and obligations of the Trustee and the
Paying Agent. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Pooling and Servicing Agreement, to which
Pooling and Servicing Agreement, as amended from time to time, the
Certificateholder by virtue of the acceptance hereof assents and by which the
Certificateholder is bound. In the case of any conflict between terms specified
in this Certificate and terms specified in the Pooling and Servicing Agreement,
the terms of the Pooling and Servicing Agreement shall govern.

            Distributions of principal of and interest on this Certificate will
be made out of the Available Distribution Amount, to the extent and subject to
the limitations set forth in the Pooling and Servicing Agreement, on the 15th
day of each month or, if such 15th day is not a Business Day, the next
succeeding Business Day (a "Distribution Date") commencing on the first
Distribution Date specified above, to the Person in whose name this Certificate
is registered at the close of business on the last Business Day of the month
immediately preceding the month of such distribution (the "Record Date"). All
sums distributable on this Certificate are payable in the coin or currency of
the United States of America as at the time of payment is legal tender for the
payment of public and private debts.

            Interest on this Certificate will accrue (computed as if each year
consisted of 360 days and each month consisted of 30 days) during the Interest
Accrual Period relating to such Distribution Date at the Pass-Through Rate on
the Certificate Balance of this Certificate immediately prior to each
Distribution Date. Principal and interest allocated to this Certificate on any
Distribution Date will be in an amount due to this Certificate's pro rata share
of the amount to be distributed on the Certificates of this Class as of such
Distribution Date, with a final distribution to be made upon retirement of this
Certificate as set forth in the Pooling and Servicing Agreement.

            Unless the certificate of authentication hereon has been executed by
the Authenticating Agent, by manual signature, this Certificate shall not be
entitled to any benefit under the Pooling and Servicing Agreement or be valid
for any purpose.

            Realized Losses, Expense Losses and interest shortfalls on the
Mortgage Loans shall be allocated on the applicable Distribution Date to
Certificateholders in the manner set forth in the Pooling and Servicing
Agreement. All Realized Losses, Expense Losses and interest shortfalls on the
Mortgage Loans allocated to any Class of Certificates will be allocated pro rata
among the outstanding Certificates of such Class.

            The Certificates are limited in right of payment to certain
collections and recoveries respecting the Mortgage Loans, all as more
specifically set forth in the Pooling and Servicing Agreement. As provided in
the Pooling and Servicing Agreement, withdrawals from the Certificate Account
shall be made from time to time for purposes other than distributions to
Certificateholders, such purposes including reimbursement of certain expenses
incurred with respect to the servicing of the Mortgage Loans and administration
of the Trust.

            All distributions under the Pooling and Servicing Agreement to a
nominee of The Depository Trust Company ("DTC") will be made by or on behalf of
the Paying Agent by wire transfer in immediately available funds to an account
specified in the request of such Certificateholder. All distributions under the
Pooling and Servicing Agreement to Certificateholders will be made by wire
transfer in immediately available funds to the account specified by the
Certificateholder, at a bank or other entity having appropriate facilities
therefor, if such Certificateholder will have provided the Paying Agent with
wiring instructions on or prior to the related Record Date or otherwise by check
mailed to such Certificateholder. Notwithstanding the above, the final
distribution on any Certificate will be made only upon presentation and
surrender of such Certificate at the location that will be specified in a notice
of the pendency of such final distribution.

            The Pooling and Servicing Agreement permits, with certain exceptions
therein provided, the amendment thereof and the modification of the rights and
obligations of the Certificateholders under the Pooling and Servicing Agreement
at any time by the parties thereto with the consent of the Holders of not less
than 51% of the Aggregate Certificate Balance of the Certificates then
outstanding, as specified in the Pooling and Servicing Agreement. Any such
consent by the Holder of this Certificate shall be conclusive and binding on
such Holder and upon all future Holders of this Certificate and of any
Certificate issued upon the transfer hereof or in exchange herefor or in lieu
hereof whether or not notation of such consent is made upon the Certificate. The
Pooling and Servicing Agreement also permits the amendment thereof, in certain
circumstances, without the consent of the Holders of any of the Certificates.

            As provided in the Pooling and Servicing Agreement and subject to
certain limitations therein set forth, the transfer of this Certificate is
registrable in the Certificate Register upon surrender of this Certificate for
registration of transfer at the Corporate Trust Office of the Certificate
Registrar, duly endorsed by, or accompanied by an assignment in the form below
or other written instrument of transfer in form satisfactory to the Certificate
Registrar duly executed by the Holder hereof or such Holder's attorney duly
authorized in writing, and thereupon one or more new Certificates of the same
Class in authorized denominations will be issued to the designated transferee or
transferees.

            Subject to the terms of the Pooling and Servicing Agreement, the
Certificates are issuable in fully registered form only, without coupons, in
minimum denominations specified in the Pooling and Servicing Agreement.

            As provided in the Pooling and Servicing Agreement and subject to
certain limitations therein set forth, Certificates are exchangeable for new
Certificates of the same Class in authorized denominations as requested by the
Holder surrendering the same. No service charge will be made for any such
registration of transfer or exchange but the Certificate Registrar may require
payment of a sum sufficient to cover any tax or other governmental charge that
may be imposed in connection with any transfer or exchange of Certificates.

            Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book entry facilities of DTC.

            The Depositor, the Trustee, the Fiscal Agent, the Paying Agent, the
Master Servicer, the Special Servicer and the Certificate Registrar and any of
their agents may treat the Person in whose name this Certificate is registered
as the owner hereof for all purposes, and neither the Depositor, the Trustee,
the Fiscal Agent, the Paying Agent, the Master Servicer, the Special Servicer,
the Certificate Registrar nor any such agents shall be affected by notice to the
contrary.

            The obligations and responsibilities of the Trustee and the Paying
Agent created hereby (other than the obligation of the Paying Agent to make
payments to the Certificateholders as set forth in Section 10.2 of the Pooling
and Servicing Agreement and other than the obligations in the nature of
information or tax reporting) shall terminate on the earliest of (i) the later
of (A) the final payment or other liquidation of the last Mortgage Loan
remaining in the Trust and (B) the disposition of all REO Property or (ii) the
sale of the property held by the Trust in accordance with Section 10.1(b) of the
Pooling and Servicing Agreement or (iii) the termination of the Trust pursuant
to Section 10.1(c) of the Pooling and Servicing Agreement; provided that in no
event shall the Trust continue beyond the expiration of 21 years from the death
of the last survivor of the descendants of Joseph P. Kennedy, the late
Ambassador of the United States to the Court of St. James, living on the date
hereof. The parties designated in the Pooling and Servicing Agreement may
exercise their option to purchase the Mortgage Loans and any other property
remaining in the Trust and cause the termination of the Trust in accordance with
the requirements set forth in the Pooling and Servicing Agreement. Upon
termination of the Trust and payment of the Certificates and of all
administrative expenses associated with the Trust, any remaining assets of the
Trust shall be distributed to the holders of the Residual Certificates.

            The Certificate Registrar has executed this Certificate under the
Pooling and Servicing Agreement.

            THIS CERTIFICATE AND THE POOLING AND SERVICING AGREEMENT SHALL BE
CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK
WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

<PAGE>

            IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed under this official seal.

                                        LASALLE BANK NATIONAL
                                           ASSOCIATION, as Certificate Registrar

                                        By:_____________________________________
                                                   AUTHORIZED SIGNATORY

Dated: June 27, 2002

                          CERTIFICATE OF AUTHENTICATION

            THIS IS ONE OF THE CLASS N CERTIFICATES REFERRED TO IN THE
WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

                                        LASALLE BANK NATIONAL
                                           ASSOCIATION,
                                           AUTHENTICATING AGENT

                                        By:_____________________________________
                                                   AUTHORIZED SIGNATORY

<PAGE>

                                  ABBREVIATIONS

The following abbreviations, when used in the inscription on the face of this
Certificate, shall be construed as though they were written out in full
according to applicable laws or regulations:

TEN COM - as tenant in common            UNIF GIFT MIN ACT.............Custodian
                                                             (Cust)
TEN ENT - as tenants by the entireties
                                              Under Uniform Gifts to Minors
JT TEN  - as joint tenants with
          rights of survivorship and
          not as tenants in common                Act..................
                                                         (State)

     Additional abbreviations may also be used though not in the above list.

                                FORM OF TRANSFER

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto

________________________________________________________________________________

____________________________________            PLEASE INSERT SOCIAL SECURITY OR
                                                OTHER IDENTIFYING NUMBER OF
____________________________________            ASSIGNEE

________________________________________________________________________________
             Please print or typewrite name and address of assignee

________________________________________________________________________________
the within Certificate and does hereby or irrevocably constitute and appoint

________________________________________________________________________________
to transfer the said Certificate in the Certificate Register of the within-named
Trust, with full power of substitution in the premises.

Dated:_________________________     ____________________________________________
                                    NOTICE: The signature to this assignment
                                    must correspond with the name as written
                                    upon the face of this Certificate in every
                                    particular without alteration or enlargement
                                    or any change whatever.

________________________________________
SIGNATURE GUARANTEED
The signature must be guaranteed by a
commercial bank or trust company or by a
member firm of the New York Stock
Exchange or another national securities
exchange. Notarized or witnessed
signatures are not acceptable.

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

            The assignee should include the following for purposes of
distribution:

            Distributions shall be made, by wire transfer or otherwise, in
immediately available funds to _____________ for the account of ________________
account number ______________ or, if mailed by check, to ______________________.
Statements should be mailed to ____________________. This information is
provided by assignee named above, or ______________________, as its agent.

<PAGE>

                     [TO BE ATTACHED TO GLOBAL CERTIFICATES]

                  SCHEDULE OF EXCHANGES OF GLOBAL CERTIFICATES

The following exchanges of a part of this Global Certificate have been made:

<PAGE>

                                  EXHIBIT A-17

                          [FORM OF CLASS O CERTIFICATE]

THIS CLASS O CERTIFICATE DOES NOT CONSTITUTE AN OBLIGATION OF OR AN INTEREST IN
THE SELLERS, THE DEPOSITOR, THE INITIAL PURCHASER, THE TRUSTEE, THE FISCAL
AGENT, THE CERTIFICATE REGISTRAR, THE PAYING AGENT, THE MASTER SERVICER, THE
SPECIAL SERVICER, THE PRIMARY SERVICERS OR ANY OF THEIR RESPECTIVE AFFILIATES,
AND WILL NOT BE INSURED OR GUARANTEED BY ANY SUCH ENTITY OR BY ANY GOVERNMENTAL
AGENCY.

THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED OR QUALIFIED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR THE SECURITIES
LAWS OF ANY STATE. ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE
WITHOUT SUCH REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION
WHICH DOES NOT REQUIRE SUCH REGISTRATION OR QUALIFICATION AND WHICH IS IN
ACCORDANCE WITH THE PROVISIONS OF SECTION 3.3 OF THE POOLING AND SERVICING
AGREEMENT REFERRED TO HEREIN.

THE INITIAL CERTIFICATE BALANCE HEREOF IS AS SET FORTH HEREIN, REDUCED OR
INCREASED AS SET FORTH IN THE SCHEDULE OF EXCHANGES ATTACHED HERETO.

THIS CLASS O CERTIFICATE IS SUBORDINATED IN RIGHT OF PAYMENT TO CERTAIN OTHER
CLASSES OF CERTIFICATES OF THIS SERIES TO THE EXTENT DESCRIBED IN THE POOLING
AND SERVICING AGREEMENT REFERRED TO HEREIN.

THE PORTION OF THE CERTIFICATE BALANCE OF THE CERTIFICATES EVIDENCED BY THIS
CERTIFICATE WILL BE DECREASED BY THE PORTION OF PRINCIPAL DISTRIBUTIONS,
REALIZED LOSSES AND CERTAIN EXPENSE LOSSES ON THE CERTIFICATES ALLOCABLE TO THIS
CLASS O CERTIFICATE. ACCORDINGLY, THE CERTIFICATE BALANCE OF THIS CERTIFICATE
MAY BE LESS THAN THAT SET FORTH BELOW. ANYONE ACQUIRING THIS CERTIFICATE MAY
ASCERTAIN ITS CURRENT CERTIFICATE BALANCE BY INQUIRY OF THE PAYING AGENT.

NO TRANSFER OF THIS CERTIFICATE TO A RETIREMENT PLAN OR OTHER EMPLOYEE BENEFIT
PLAN OR ARRANGEMENT THAT IS SUBJECT TO TITLE I OF THE EMPLOYEE RETIREMENT INCOME
SECURITY ACT OF 1974, AS AMENDED ("ERISA"), SECTION 4975 OF THE INTERNAL REVENUE
CODE OF 1986, AS AMENDED (THE "CODE"), OR APPLICABLE FEDERAL, STATE OR LOCAL LAW
("SIMILAR LAW") MATERIALLY SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE
CODE OR TO ANY PERSON WHO IS DIRECTLY OR INDIRECTLY PURCHASING THIS CERTIFICATE
ON BEHALF OF, AS NAMED FIDUCIARY OF, AS TRUSTEE OF, OR WITH ASSETS OF ANY SUCH
RETIREMENT PLAN OR OTHER EMPLOYEE BENEFIT PLAN OR ARRANGEMENT, WILL BE
REGISTERED EXCEPT IN COMPLIANCE WITH THE PROVISIONS OF SECTION 3.3 OF THE
POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO THE CERTIFICATE
REGISTRAR OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND
ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER
NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
HEREON IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED
OWNER HEREOF, CEDE & CO. HAS AN INTEREST HEREIN.

THIS CERTIFICATE REPRESENTS A "REGULAR INTEREST" IN A "REAL ESTATE MORTGAGE
INVESTMENT CONDUIT," AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G
AND 860d OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE").

[THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED
STATES SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT") AND, PRIOR TO
THE DATE THAT IS 40 DAYS AFTER THE OFFERING OF THE CERTIFICATES, MAY NOT BE
OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED IN THE UNITED STATES OR TO A
U.S. PERSON EXCEPT PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS
OF THE SECURITIES ACT.](1)

----------
(1)   For Reg S Book-Entry Certificates only

<PAGE>

                    MORGAN STANLEY DEAN WITTER CAPITAL I INC.
                 COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES,
                                 SERIES 2002-IQ2

INITIAL PASS-THROUGH RATE: 5.77%          MASTER SERVICER:  ORIX CAPITAL
                                          MARKETS, LLC

DATE OF POOLING AND SERVICING             SPECIAL SERVICER:  LEND LEASE ASSET
AGREEMENT:  AS OF JUNE 1, 2002            MANAGEMENT, L.P.

CUT-OFF DATE:  JUNE 1, 2002               PAYING AGENT: LASALLE BANK NATIONAL
                                          ASSOCIATION

CLOSING DATE: JUNE 27, 2002

FIRST DISTRIBUTION DATE: JULY 15, 2002    TRUSTEE:  LASALLE BANK NATIONAL
                                          ASSOCIATION

AGGREGATE CERTIFICATE BALANCE OF THE      FISCAL AGENT: ABN AMRO BANK N.V.
CLASS O CERTIFICATES AS OF THE CLOSING
DATE:  $7,786,565

CERTIFICATE BALANCE OF THIS CLASS O       CUSIP NO. [__________]
CERTIFICATE AS OF THE CLOSING DATE:
$[__________] (SUBJECT TO SCHEDULE OF
EXCHANGES ATTACHED)

No. O-1

                               CLASS O CERTIFICATE

evidencing a beneficial ownership interest in a Trust, consisting primarily of a
pool of commercial and multifamily mortgage loans (the "Mortgage Loans") and
certain other property, formed and sold by

                    MORGAN STANLEY DEAN WITTER CAPITAL I INC.

            THIS CERTIFIES THAT CEDE & CO. is the registered owner of the
interest evidenced by this Certificate in the Class O Certificates issued by the
Trust created pursuant to the Pooling and Servicing Agreement, dated as
specified above (the "Pooling and Servicing Agreement"), among Morgan Stanley
Dean Witter Capital I Inc. (hereinafter called the "Depositor", which term
includes any successor entity under the Pooling and Servicing Agreement), the
Trustee, the Fiscal Agent, the Paying Agent, the Certificate Registrar, the
Master Servicer and the Special Servicer, a summary of certain of the pertinent
provisions of which is set forth hereafter. The Trust consists primarily of the
Mortgage Loans, such amounts as shall from time to time be held in the
Certificate Account and Distribution Account, the Insurance Policies and any REO
Properties. To the extent not defined herein, the capitalized terms used herein
have the meanings assigned in the Pooling and Servicing Agreement.

            This Certificate is one of a duly authorized issue of Certificates
designated as Certificates of the series specified on the face hereof (herein
called the "Certificates") and representing an interest in the Class of
Certificates specified on the face hereof equal to the quotient expressed as a
percentage obtained by dividing the Certificate Balance of this Certificate
specified on the face hereof by the aggregate initial Certificate Balance of the
Class O Certificates. The Certificates are designated as the Morgan Stanley Dean
Witter Capital I Inc., Commercial Mortgage Pass-Through Certificates, Series
2002-IQ2 and are issued in the Classes specified in the Pooling and Servicing
Agreement. The Certificates will evidence in the aggregate 100% of the
beneficial ownership of the Trust.

            This Certificate does not purport to summarize the Pooling and
Servicing Agreement and reference is made to that Agreement for information with
respect to the interests, rights, benefits, obligations, proceeds, and duties
evidenced hereby and the rights, duties and obligations of the Trustee and the
Paying Agent. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Pooling and Servicing Agreement, to which
Pooling and Servicing Agreement, as amended from time to time, the
Certificateholder by virtue of the acceptance hereof assents and by which the
Certificateholder is bound. In the case of any conflict between terms specified
in this Certificate and terms specified in the Pooling and Servicing Agreement,
the terms of the Pooling and Servicing Agreement shall govern.

            Distributions of principal of and interest on this Certificate will
be made out of the Available Distribution Amount, to the extent and subject to
the limitations set forth in the Pooling and Servicing Agreement, on the 15th
day of each month or, if such 15th day is not a Business Day, the next
succeeding Business Day (a "Distribution Date") commencing on the first
Distribution Date specified above, to the Person in whose name this Certificate
is registered at the close of business on the last Business Day of the month
immediately preceding the month of such distribution (the "Record Date"). All
sums distributable on this Certificate are payable in the coin or currency of
the United States of America as at the time of payment is legal tender for the
payment of public and private debts.

            Interest on this Certificate will accrue (computed as if each year
consisted of 360 days and each month consisted of 30 days) during the Interest
Accrual Period relating to such Distribution Date at the Pass-Through Rate on
the Certificate Balance of this Certificate immediately prior to each
Distribution Date. Principal and interest allocated to this Certificate on any
Distribution Date will be in an amount due to this Certificate's pro rata share
of the amount to be distributed on the Certificates of this Class as of such
Distribution Date, with a final distribution to be made upon retirement of this
Certificate as set forth in the Pooling and Servicing Agreement.

            Unless the certificate of authentication hereon has been executed by
the Authenticating Agent, by manual signature, this Certificate shall not be
entitled to any benefit under the Pooling and Servicing Agreement or be valid
for any purpose.

            Realized Losses, Expense Losses and interest shortfalls on the
Mortgage Loans shall be allocated on the applicable Distribution Date to
Certificateholders in the manner set forth in the Pooling and Servicing
Agreement. All Realized Losses, Expense Losses and interest shortfalls on the
Mortgage Loans allocated to any Class of Certificates will be allocated pro rata
among the outstanding Certificates of such Class.

            The Certificates are limited in right of payment to certain
collections and recoveries respecting the Mortgage Loans, all as more
specifically set forth in the Pooling and Servicing Agreement. As provided in
the Pooling and Servicing Agreement, withdrawals from the Certificate Account
shall be made from time to time for purposes other than distributions to
Certificateholders, such purposes including reimbursement of certain expenses
incurred with respect to the servicing of the Mortgage Loans and administration
of the Trust.

            All distributions under the Pooling and Servicing Agreement to a
nominee of The Depository Trust Company ("DTC") will be made by or on behalf of
the Paying Agent by wire transfer in immediately available funds to an account
specified in the request of such Certificateholder. All distributions under the
Pooling and Servicing Agreement to Certificateholders will be made by wire
transfer in immediately available funds to the account specified by the
Certificateholder, at a bank or other entity having appropriate facilities
therefor, if such Certificateholder will have provided the Paying Agent with
wiring instructions on or prior to the related Record Date or otherwise by check
mailed to such Certificateholder. Notwithstanding the above, the final
distribution on any Certificate will be made only upon presentation and
surrender of such Certificate at the location that will be specified in a notice
of the pendency of such final distribution.

            The Pooling and Servicing Agreement permits, with certain exceptions
therein provided, the amendment thereof and the modification of the rights and
obligations of the Certificateholders under the Pooling and Servicing Agreement
at any time by the parties thereto with the consent of the Holders of not less
than 51% of the Aggregate Certificate Balance of the Certificates then
outstanding, as specified in the Pooling and Servicing Agreement. Any such
consent by the Holder of this Certificate shall be conclusive and binding on
such Holder and upon all future Holders of this Certificate and of any
Certificate issued upon the transfer hereof or in exchange herefor or in lieu
hereof whether or not notation of such consent is made upon the Certificate. The
Pooling and Servicing Agreement also permits the amendment thereof, in certain
circumstances, without the consent of the Holders of any of the Certificates.

            As provided in the Pooling and Servicing Agreement and subject to
certain limitations therein set forth, the transfer of this Certificate is
registrable in the Certificate Register upon surrender of this Certificate for
registration of transfer at the Corporate Trust Office of the Certificate
Registrar, duly endorsed by, or accompanied by an assignment in the form below
or other written instrument of transfer in form satisfactory to the Certificate
Registrar duly executed by the Holder hereof or such Holder's attorney duly
authorized in writing, and thereupon one or more new Certificates of the same
Class in authorized denominations will be issued to the designated transferee or
transferees.

            Subject to the terms of the Pooling and Servicing Agreement, the
Certificates are issuable in fully registered form only, without coupons, in
minimum denominations specified in the Pooling and Servicing Agreement.

            As provided in the Pooling and Servicing Agreement and subject to
certain limitations therein set forth, Certificates are exchangeable for new
Certificates of the same Class in authorized denominations as requested by the
Holder surrendering the same. No service charge will be made for any such
registration of transfer or exchange but the Certificate Registrar may require
payment of a sum sufficient to cover any tax or other governmental charge that
may be imposed in connection with any transfer or exchange of Certificates.

            Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book entry facilities of DTC.

            The Depositor, the Trustee, the Fiscal Agent, the Paying Agent, the
Master Servicer, the Special Servicer and the Certificate Registrar and any of
their agents may treat the Person in whose name this Certificate is registered
as the owner hereof for all purposes, and neither the Depositor, the Trustee,
the Fiscal Agent, the Paying Agent, the Master Servicer, the Special Servicer,
the Certificate Registrar nor any such agents shall be affected by notice to the
contrary.

            The obligations and responsibilities of the Trustee and the Paying
Agent created hereby (other than the obligation of the Paying Agent to make
payments to the Certificateholders as set forth in Section 10.2 of the Pooling
and Servicing Agreement and other than the obligations in the nature of
information or tax reporting) shall terminate on the earliest of (i) the later
of (A) the final payment or other liquidation of the last Mortgage Loan
remaining in the Trust and (B) the disposition of all REO Property or (ii) the
sale of the property held by the Trust in accordance with Section 10.1(b) of the
Pooling and Servicing Agreement or (iii) the termination of the Trust pursuant
to Section 10.1(c) of the Pooling and Servicing Agreement; provided that in no
event shall the Trust continue beyond the expiration of 21 years from the death
of the last survivor of the descendants of Joseph P. Kennedy, the late
Ambassador of the United States to the Court of St. James, living on the date
hereof. The parties designated in the Pooling and Servicing Agreement may
exercise their option to purchase the Mortgage Loans and any other property
remaining in the Trust and cause the termination of the Trust in accordance with
the requirements set forth in the Pooling and Servicing Agreement. Upon
termination of the Trust and payment of the Certificates and of all
administrative expenses associated with the Trust, any remaining assets of the
Trust shall be distributed to the holders of the Residual Certificates.

            The Certificate Registrar has executed this Certificate under the
Pooling and Servicing Agreement.

            THIS CERTIFICATE AND THE POOLING AND SERVICING AGREEMENT SHALL BE
CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK
WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

<PAGE>

            IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed under this official seal.

                                        LASALLE BANK NATIONAL
                                           ASSOCIATION, as Certificate Registrar

                                        By:_____________________________________
                                                   AUTHORIZED SIGNATORY

Dated: June 27, 2002

                          CERTIFICATE OF AUTHENTICATION

            THIS IS ONE OF THE CLASS O CERTIFICATES REFERRED TO IN THE
WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

                                        LASALLE BANK NATIONAL
                                           ASSOCIATION,
                                           AUTHENTICATING AGENT

                                        By:_____________________________________
                                                   AUTHORIZED SIGNATORY

<PAGE>

                                  ABBREVIATIONS

The following abbreviations, when used in the inscription on the face of this
Certificate, shall be construed as though they were written out in full
according to applicable laws or regulations:

TEN COM - as tenant in common            UNIF GIFT MIN ACT.............Custodian
                                                             (Cust)
TEN ENT - as tenants by the entireties
                                              Under Uniform Gifts to Minors
JT TEN  - as joint tenants with
          rights of survivorship and
          not as tenants in common                Act..................
                                                         (State)

     Additional abbreviations may also be used though not in the above list.

                                FORM OF TRANSFER

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto

________________________________________________________________________________

____________________________________            PLEASE INSERT SOCIAL SECURITY OR
                                                OTHER IDENTIFYING NUMBER OF
____________________________________            ASSIGNEE

________________________________________________________________________________
             Please print or typewrite name and address of assignee

________________________________________________________________________________
the within Certificate and does hereby or irrevocably constitute and appoint

________________________________________________________________________________
to transfer the said Certificate in the Certificate Register of the within-named
Trust, with full power of substitution in the premises.

Dated:_________________________     ____________________________________________
                                    NOTICE: The signature to this assignment
                                    must correspond with the name as written
                                    upon the face of this Certificate in every
                                    particular without alteration or enlargement
                                    or any change whatever.

________________________________________
SIGNATURE GUARANTEED
The signature must be guaranteed by a
commercial bank or trust company or by a
member firm of the New York Stock
Exchange or another national securities
exchange. Notarized or witnessed
signatures are not acceptable.

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

            The assignee should include the following for purposes of
distribution:

            Distributions shall be made, by wire transfer or otherwise, in
immediately available funds to _____________ for the account of ________________
account number ______________ or, if mailed by check, to ______________________.
Statements should be mailed to ____________________. This information is
provided by assignee named above, or ______________________, as its agent.

<PAGE>

                     [TO BE ATTACHED TO GLOBAL CERTIFICATES]

                  SCHEDULE OF EXCHANGES OF GLOBAL CERTIFICATES

The following exchanges of a part of this Global Certificate have been made:

<PAGE>

                                  EXHIBIT A-18

                         [FORM OF CLASS R-I CERTIFICATE]

THIS CLASS R-I CERTIFICATE DOES NOT CONSTITUTE AN OBLIGATION OF OR AN INTEREST
IN THE SELLERS, THE DEPOSITOR, THE PLACEMENT AGENT, THE TRUSTEE, THE FISCAL
AGENT, THE CERTIFICATE REGISTRAR, THE PAYING AGENT, THE MASTER SERVICER, THE
SPECIAL SERVICER, THE PRIMARY SERVICERS OR ANY OF THEIR RESPECTIVE AFFILIATES,
AND WILL NOT BE INSURED OR GUARANTEED BY ANY SUCH ENTITY OR BY ANY GOVERNMENTAL
AGENCY.

THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED OR QUALIFIED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR THE SECURITIES
LAWS OF ANY STATE. ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE
WITHOUT SUCH REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION
WHICH DOES NOT REQUIRE SUCH REGISTRATION OR QUALIFICATION AND WHICH IS IN
ACCORDANCE WITH THE PROVISIONS OF SECTION 3.3 OF THE POOLING AND SERVICING
AGREEMENT REFERRED TO HEREIN.

SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS THE
"RESIDUAL INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986 (THE "CODE"). THIS CERTIFICATE MAY NOT BE TRANSFERRED TO A
NON-UNITED STATES PERSON.

THIS CERTIFICATE MAY NOT BE SOLD, PLEDGED OR OTHERWISE TRANSFERRED TO
"DISQUALIFIED ORGANIZATIONS" WITHIN THE MEANING OF THE CODE.

NO TRANSFER OF THIS CERTIFICATE TO A RETIREMENT PLAN OR OTHER EMPLOYEE BENEFIT
PLAN OR ARRANGEMENT THAT IS SUBJECT TO TITLE I OF THE EMPLOYEE RETIREMENT INCOME
SECURITY ACT OF 1974, AS AMENDED ("ERISA"), SECTION 4975 OF THE CODE OR
APPLICABLE FEDERAL, STATE OR LOCAL LAW ("SIMILAR LAW") MATERIALLY SIMILAR TO THE
FOREGOING PROVISIONS OF ERISA OR THE CODE OR TO ANY PERSON WHO IS DIRECTLY OR
INDIRECTLY PURCHASING THIS CERTIFICATE ON BEHALF OF, AS NAMED FIDUCIARY OF, AS
TRUSTEE OF, OR WITH ASSETS OF ANY SUCH RETIREMENT PLAN OR OTHER EMPLOYEE BENEFIT
PLAN OR ARRANGEMENT, WILL BE REGISTERED EXCEPT IN COMPLIANCE WITH THE PROVISIONS
OF SECTION 3.3 OF THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.

A SALE, TRANSFER OR OTHER DISPOSITION OF THIS CLASS R-I CERTIFICATE MAY BE MADE
ONLY IF THE PROPOSED TRANSFEREE PROVIDES A TRANSFER AFFIDAVIT TO THE CERTIFICATE
REGISTRAR TO THE EFFECT THAT (1) SUCH TRANSFEREE AGREES TO BE BOUND BY THE TERMS
OF THE POOLING AND SERVICING AGREEMENT AND ALL RESTRICTIONS SET FORTH ON THE
FACE HEREOF, (2) SUCH TRANSFEREE IS NOT (A) THE UNITED STATES, ANY STATE OR
POLITICAL SUBDIVISION THEREOF, OR ANY AGENCY OR INSTRUMENTALITY OF ANY OF THE
FOREGOING (OTHER THAN AN INSTRUMENTALITY WHICH IS A CORPORATION IF ALL OF ITS
ACTIVITIES ARE SUBJECT TO TAX AND, EXCEPT FOR FHLMC, A MAJORITY OF ITS BOARD OF
DIRECTORS IS NOT SELECTED BY ANY SUCH GOVERNMENTAL UNIT), (B) AN ORGANIZATION
(OTHER THAN CERTAIN FARMERS' COOPERATIVES DESCRIBED IN SECTION 521 OF THE CODE)
WHICH IS EXEMPT FROM THE TAX IMPOSED BY CHAPTER 1 OF THE CODE (UNLESS SUCH
ORGANIZATION IS SUBJECT TO THE TAX IMPOSED BY SECTION 511 OF THE CODE ON
UNRELATED BUSINESS TAXABLE INCOME), (C) A RURAL ELECTRIC OR TELEPHONE
COOPERATIVE DESCRIBED IN SECTION 1381 OF THE CODE (ANY SUCH PERSON DESCRIBED IN
THE FOREGOING CLAUSES (A), (B) OR (C) BEING HEREINAFTER REFERRED TO AS A
"DISQUALIFIED ORGANIZATION"), (D) A PERSON THAT IS NOT A "UNITED STATES PERSON"
AS DEFINED IN SECTION 7701(A)(30) OF THE CODE OR (E) AN AGENT OF A DISQUALIFIED
ORGANIZATION OR A NON-UNITED STATES PERSON, AND (3) NO PURPOSE OF SUCH TRANSFER
IS TO ENABLE THE TRANSFEROR TO IMPEDE THE ASSESSMENT OR COLLECTION OF TAX.
NOTWITHSTANDING THE REGISTRATION IN THE CERTIFICATE REGISTER OF ANY TRANSFER,
SALE OR OTHER DISPOSITION OF THIS CLASS R-I CERTIFICATE TO A DISQUALIFIED
ORGANIZATION OR A NON-UNITED STATES PERSON OR AN AGENT OF A DISQUALIFIED
ORGANIZATION OR A NON-UNITED STATES PERSON, OR TO ANY OTHER PROHIBITED
TRANSFEREE AS PROVIDED IN THE POOLING AND SERVICING AGREEMENT, SUCH REGISTRATION
SHALL BE DEEMED TO BE OF NO LEGAL FORCE OR EFFECT WHATSOEVER AND SUCH PERSON
SHALL NOT BE DEEMED TO BE A CERTIFICATEHOLDER FOR ANY PURPOSE HEREUNDER,
INCLUDING, BUT NOT LIMITED TO, THE RECEIPT OF DISTRIBUTIONS ON THIS CERTIFICATE.
EACH HOLDER OF A CLASS R-I CERTIFICATE BY ACCEPTANCE OF THIS CERTIFICATE SHALL
BE DEEMED TO HAVE CONSENTED TO THE PROVISIONS OF THIS PARAGRAPH.

<PAGE>

                    MORGAN STANLEY DEAN WITTER CAPITAL I INC.
                 COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES,
                                 SERIES 2002-IQ2

PERCENTAGE INTEREST OF THIS CLASS R-I     SPECIAL SERVICER:  LEND LEASE ASSET
CERTIFICATE:  100%                        MANAGEMENT, L.P.

DATE OF POOLING AND SERVICING             PAYING AGENT: LASALLE BANK NATIONAL
AGREEMENT:  AS OF JUNE 1, 2002            ASSOCIATION

CUT-OFF DATE:  JUNE 1, 2002

CLOSING DATE: JUNE 27, 2002               TRUSTEE:  LASALLE BANK NATIONAL
                                          ASSOCIATION

FIRST DISTRIBUTION DATE: JULY 15, 2002    FISCAL AGENT: ABN AMRO BANK N.V.

MASTER SERVICER:  ORIX CAPITAL MARKETS,   No.  R-1
LLC

                              CLASS R-I CERTIFICATE

evidencing a beneficial ownership interest in a Trust, consisting primarily of a
pool of commercial and multifamily mortgage loans (the "Mortgage Loans") and
certain other property, formed and sold by

                    MORGAN STANLEY DEAN WITTER CAPITAL I INC.

            THIS CERTIFIES THAT MORGAN STANLEY & CO. INCORPORATED is the
registered owner of the interest evidenced by this Certificate in the Class R-I
Certificates issued by the Trust created pursuant to the Pooling and Servicing
Agreement, dated as specified above (the "Pooling and Servicing Agreement"),
among Morgan Stanley Dean Witter Capital I Inc. (hereinafter called the
"Depositor", which term includes any successor entity under the Pooling and
Servicing Agreement), the Trustee, the Fiscal Agent, the Paying Agent, the
Master Servicer and the Special Servicer, a summary of certain of the pertinent
provisions of which is set forth hereafter. The Trust consists primarily of the
Mortgage Loans, such amounts as shall from time to time be held in the
Certificate Account and Distribution Account, the Insurance Policies and any REO
Properties. To the extent not defined herein, the capitalized terms used herein
have the meanings assigned in the Pooling and Servicing Agreement.

            This Certificate is one of a duly authorized issue of Certificates
designated as Certificates of the series specified on the face hereof (herein
called the "Certificates") and representing the Percentage Interest in the Class
R-I Certificates specified on the face hereof. The Certificates are designated
as the Morgan Stanley Dean Witter Capital I Inc. Commercial Mortgage
Pass-Through Certificates, Series 2002-IQ2 and are issued in the Classes as
specifically set forth in the Pooling and Servicing Agreement. The Certificates
will evidence in the aggregate 100% of the beneficial ownership of the Trust.

            This Certificate does not purport to summarize the Pooling and
Servicing Agreement and reference is made to that Agreement for information with
respect to the interests, rights, benefits, obligations, proceeds, and duties
evidenced hereby and the rights, duties and obligations of the Trustee and the
Paying Agent. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Pooling and Servicing Agreement, to which
Pooling and Servicing Agreement, as amended from time to time, the
Certificateholder by virtue of the acceptance hereof assents and by which the
Certificateholder is bound. In the case of any conflict between terms specified
in this Certificate and terms specified in the Pooling and Servicing Agreement,
the terms of the Pooling and Servicing Agreement shall govern.

            The Holder of this Certificate shall be entitled to receive only
certain amounts set forth in the Pooling and Servicing Agreement, including a
distribution upon termination of the Pooling and Servicing Agreement and the
related REMIC created thereby of the amounts which remain on deposit in the
Distribution Account after payment to the holders of all other Certificates of
all amounts set forth in the Pooling and Servicing Agreement. Distributions on
this Certificate will be made out of the Available Distribution Amount, to the
extent and subject to the limitations set forth in the Pooling and Servicing
Agreement, on the 15th day of each month or, if such 15th day is not a Business
Day, the next succeeding Business Day (a "Distribution Date") commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the last Business Day of
the month immediately preceding the month of such distribution (the "Record
Date"). All sums distributable on this Certificate are payable in the coin or
currency of the United States of America as at the time of payment is legal
tender for the payment of public and private debts.

            Unless the certificate of authentication hereon has been executed by
the Authenticating Agent, by manual signature, this Certificate shall not be
entitled to any benefit under the Pooling and Servicing Agreement or be valid
for any purpose.

            Realized Losses, Expense Losses and interest shortfalls on the
Mortgage Loans shall be allocated on the applicable Distribution Date to
Certificateholders in the manner set forth in the Pooling and Servicing
Agreement. All Realized Losses, Expense Losses and interest shortfalls on the
Mortgage Loans allocated to any Class of Certificates will be allocated pro rata
among the outstanding Certificates of such Class.

            The Certificates are limited in right of payment to certain
collections and recoveries respecting the Mortgage Loans, all as more
specifically set forth in the Pooling and Servicing Agreement. As provided in
the Pooling and Servicing Agreement, withdrawals from the Certificate Account
shall be made from time to time for purposes other than distributions to
Certificateholders, such purposes including reimbursement of certain expenses
incurred with respect to the servicing of the Mortgage Loans and administration
of the Trust.

            All distributions under the Pooling and Servicing Agreement to a
nominee of The Depository Trust Company ("DTC") will be made by or on behalf of
the Paying Agent by wire transfer in immediately available funds to an account
specified in the request of such Certificateholder. All distributions under the
Pooling and Servicing Agreement to Certificateholders will be made by wire
transfer in immediately available funds to the account specified by the
Certificateholder, at a bank or other entity having appropriate facilities
therefor, if such Certificateholder will have provided the Paying Agent with
wiring instructions on or prior to the related Record Date or otherwise by check
mailed to such Certificateholder. Notwithstanding the above, the final
distribution on any Certificate will be made only upon presentation and
surrender of such Certificate at the location that will be specified in a notice
of the pendency of such final distribution.

            The Pooling and Servicing Agreement permits, with certain exceptions
therein provided, the amendment thereof and the modification of the rights and
obligations of the Certificateholders under the Pooling and Servicing Agreement
at any time by the parties thereto with the consent of the Holders of not less
than 51% of the Aggregate Certificate Balance of the Certificates then
outstanding, as specified in the Pooling and Servicing Agreement. Any such
consent by the Holder of this Certificate shall be conclusive and binding on
such Holder and upon all future Holders of this Certificate and of any
Certificate issued upon the transfer hereof or in exchange herefor or in lieu
hereof whether or not notation of such consent is made upon the Certificate. The
Pooling and Servicing Agreement also permits the amendment thereof, in certain
limited circumstances, without the consent of the Holders of any of the
Certificates.

            As provided in the Pooling and Servicing Agreement and subject to
certain limitations therein set forth, the transfer of this Certificate is
registrable in the Certificate Register upon surrender of this Certificate for
registration of transfer at the Corporate Trust Office of the Certificate
Registrar, duly endorsed by, or accompanied by an assignment in the form below
or other written instrument of transfer in form satisfactory to the Certificate
Registrar duly executed by the Holder hereof or such Holder's attorney duly
authorized in writing, and thereupon one or more new Certificates of the same
Class in authorized denominations will be issued to the designated transferee or
transferees.

            The Residual Certificates will be issued in fully registered,
certificated form in minimum percentage interests of 10% and in multiples of 10%
in excess thereof.

            As provided in the Pooling and Servicing Agreement and subject to
certain limitations therein set forth, Certificates are exchangeable for new
Certificates of the same Class in authorized denominations as requested by the
Holder surrendering the same. No service charge will be made for any such
registration of transfer or exchange but the Certificate Registrar may require
payment of a sum sufficient to cover any tax or other governmental charge that
may be imposed in connection with any transfer or exchange of Certificates.

            The Depositor, the Trustee, the Fiscal Agent, the Paying Agent, the
Master Servicer, the Special Servicer and the Certificate Registrar and any of
their agents may treat the Person in whose name this Certificate is registered
as the owner hereof for all purposes, and neither the Depositor, the Trustee,
the Fiscal Agent, the Paying Agent, the Master Servicer, the Special Servicer,
the Certificate Registrar nor any such agents shall be affected by notice to the
contrary.

            The obligations and responsibilities of the Trustee and the Paying
Agent created hereby (other than the obligation of the Paying Agent to make
payments to the Certificateholders as set forth in Section 10.2 of the Pooling
and Servicing Agreement and other than the obligations in the nature of
information or tax reporting) shall terminate on the earliest of (i) the later
of (A) the final payment or other liquidation of the last Mortgage Loan
remaining in the Trust and (B) the disposition of all REO Property or (ii) the
sale of the property held by the Trust in accordance with Section 10.1(b) of the
Pooling and Servicing Agreement or (iii) the termination of the Trust pursuant
to Section 10.1(c) of the Pooling and Servicing Agreement; provided that in no
event shall the Trust continue beyond the expiration of 21 years from the death
of the last survivor of the descendants of Joseph P. Kennedy, the late
Ambassador of the United States to the Court of St. James, living on the date
hereof. The parties designated in the Pooling and Servicing Agreement may
exercise their option to purchase the Mortgage Loans and any other property
remaining in the Trust and cause the termination of the Trust in accordance with
the requirements set forth in the Pooling and Servicing Agreement. Upon
termination of the Trust and payment of the Certificates and of all
administrative expenses associated with the Trust, any remaining assets of the
Trust shall be distributed to the holders of the Residual Certificates.

            The Certificate Registrar has executed this Certificate under the
Pooling and Servicing Agreement.

            THIS CERTIFICATE AND THE POOLING AND SERVICING AGREEMENT SHALL BE
CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK
WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

<PAGE>

            IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed under this official seal.

                                        LASALLE BANK NATIONAL
                                           ASSOCIATION, as Certificate Registrar

                                        By:_____________________________________
                                                   AUTHORIZED SIGNATORY

Dated: June 27, 2002

                          CERTIFICATE OF AUTHENTICATION

            THIS IS ONE OF THE CLASS R-I CERTIFICATES REFERRED TO IN THE
WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

                                        LASALLE BANK NATIONAL
                                           ASSOCIATION,
                                           AUTHENTICATING AGENT

                                        By:_____________________________________
                                                   AUTHORIZED SIGNATORY

<PAGE>

                                  ABBREVIATIONS

The following abbreviations, when used in the inscription on the face of this
Certificate, shall be construed as though they were written out in full
according to applicable laws or regulations:

TEN COM - as tenant in common            UNIF GIFT MIN ACT.............Custodian
                                                             (Cust)
TEN ENT - as tenants by the entireties
                                              Under Uniform Gifts to Minors
JT TEN  - as joint tenants with
          rights of survivorship and
          not as tenants in common                Act..................
                                                         (State)

     Additional abbreviations may also be used though not in the above list.

                                FORM OF TRANSFER

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto

________________________________________________________________________________

____________________________________            PLEASE INSERT SOCIAL SECURITY OR
                                                OTHER IDENTIFYING NUMBER OF
____________________________________            ASSIGNEE

________________________________________________________________________________
             Please print or typewrite name and address of assignee

________________________________________________________________________________
the within Certificate and does hereby or irrevocably constitute and appoint

________________________________________________________________________________
to transfer the said Certificate in the Certificate Register of the within-named
Trust, with full power of substitution in the premises.

Dated:_________________________     ____________________________________________
                                    NOTICE: The signature to this assignment
                                    must correspond with the name as written
                                    upon the face of this Certificate in every
                                    particular without alteration or enlargement
                                    or any change whatever.

________________________________________
SIGNATURE GUARANTEED
The signature must be guaranteed by a
commercial bank or trust company or by a
member firm of the New York Stock
Exchange or another national securities
exchange. Notarized or witnessed
signatures are not acceptable.

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

            The assignee should include the following for purposes of
distribution:

            Distributions shall be made, by wire transfer or otherwise, in
immediately available funds to _____________ for the account of ________________
account number ______________ or, if mailed by check, to ______________________.
Statements should be mailed to ____________________. This information is
provided by assignee named above, or ______________________, as its agent.

<PAGE>

                                  EXHIBIT A-19

                        [FORM OF CLASS R-II CERTIFICATE]

THIS CLASS R-II CERTIFICATE DOES NOT CONSTITUTE AN OBLIGATION OF OR AN INTEREST
IN THE SELLERS, THE DEPOSITOR, THE PLACEMENT AGENT, THE TRUSTEE, THE FISCAL
AGENT, THE FISCAL AGENT, THE CERTIFICATE REGISTRAR, THE PAYING AGENT, THE MASTER
SERVICER, THE SPECIAL SERVICER, THE PRIMARY SERVICERS OR ANY OF THEIR RESPECTIVE
AFFILIATES, AND WILL NOT BE INSURED OR GUARANTEED BY ANY SUCH ENTITY OR BY ANY
GOVERNMENTAL AGENCY.

THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED OR QUALIFIED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR THE SECURITIES
LAWS OF ANY STATE. ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE
WITHOUT SUCH REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION
WHICH DOES NOT REQUIRE SUCH REGISTRATION OR QUALIFICATION AND WHICH IS IN
ACCORDANCE WITH THE PROVISIONS OF SECTION 3.3 OF THE POOLING AND SERVICING
AGREEMENT REFERRED TO HEREIN.

SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS THE
"RESIDUAL INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986 (THE "CODE"). THIS CERTIFICATE MAY NOT BE TRANSFERRED TO A
NON-UNITED STATES PERSON.

THIS CERTIFICATE MAY NOT BE SOLD, PLEDGED OR OTHERWISE TRANSFERRED TO
"DISQUALIFIED ORGANIZATIONS" WITHIN THE MEANING OF THE CODE.

NO TRANSFER OF THIS CERTIFICATE TO A RETIREMENT PLAN OR OTHER EMPLOYEE BENEFIT
PLAN OR ARRANGEMENT THAT IS SUBJECT TO TITLE I OF THE EMPLOYEE RETIREMENT INCOME
SECURITY ACT OF 1974, AS AMENDED ("ERISA"), SECTION 4975 OF THE CODE OR
APPLICABLE FEDERAL, STATE OR LOCAL LAW ("SIMILAR LAW") MATERIALLY SIMILAR TO THE
FOREGOING PROVISIONS OF ERISA OR THE CODE OR TO ANY PERSON WHO IS DIRECTLY OR
INDIRECTLY PURCHASING THIS CERTIFICATE ON BEHALF OF, AS NAMED FIDUCIARY OF, AS
TRUSTEE OF, OR WITH ASSETS OF ANY SUCH RETIREMENT PLAN OR OTHER EMPLOYEE BENEFIT
PLAN OR ARRANGEMENT, WILL BE REGISTERED EXCEPT IN COMPLIANCE WITH THE PROVISIONS
OF SECTION 3.3 OF THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.

A SALE, TRANSFER OR OTHER DISPOSITION OF THIS CLASS R-II CERTIFICATE MAY BE MADE
ONLY IF THE PROPOSED TRANSFEREE PROVIDES A TRANSFER AFFIDAVIT TO THE CERTIFICATE
REGISTRAR TO THE EFFECT THAT (1) SUCH TRANSFEREE AGREES TO BE BOUND BY THE TERMS
OF THE POOLING AND SERVICING AGREEMENT AND ALL RESTRICTIONS SET FORTH ON THE
FACE HEREOF, (2) SUCH TRANSFEREE IS NOT (A) THE UNITED STATES, ANY STATE OR
POLITICAL SUBDIVISION THEREOF, OR ANY AGENCY OR INSTRUMENTALITY OF ANY OF THE
FOREGOING (OTHER THAN AN INSTRUMENTALITY WHICH IS A CORPORATION IF ALL OF ITS
ACTIVITIES ARE SUBJECT TO TAX AND, EXCEPT FOR FHLMC, A MAJORITY OF ITS BOARD OF
DIRECTORS IS NOT SELECTED BY ANY SUCH GOVERNMENTAL UNIT), (B) AN ORGANIZATION
(OTHER THAN CERTAIN FARMERS' COOPERATIVES DESCRIBED IN SECTION 521 OF THE CODE)
WHICH IS EXEMPT FROM THE TAX IMPOSED BY CHAPTER 1 OF THE CODE (UNLESS SUCH
ORGANIZATION IS SUBJECT TO THE TAX IMPOSED BY SECTION 511 OF THE CODE ON
UNRELATED BUSINESS TAXABLE INCOME), (C) A RURAL ELECTRIC OR TELEPHONE
COOPERATIVE DESCRIBED IN SECTION 1381 OF THE CODE (ANY SUCH PERSON DESCRIBED IN
THE FOREGOING CLAUSES (A), (B) OR (C) BEING HEREINAFTER REFERRED TO AS A
"DISQUALIFIED ORGANIZATION"), (D) A PERSON THAT IS NOT A "UNITED STATES PERSON"
AS DEFINED IN SECTION 7701(A)(30) OR (E) AN AGENT OF A DISQUALIFIED ORGANIZATION
OR A NON-UNITED STATES PERSON, AND (3) NO PURPOSE OF SUCH TRANSFER IS TO ENABLE
THE TRANSFEROR TO IMPEDE THE ASSESSMENT OR COLLECTION OF TAX. NOTWITHSTANDING
THE REGISTRATION IN THE CERTIFICATE REGISTER OF ANY TRANSFER, SALE OR OTHER
DISPOSITION OF THIS CLASS R-II CERTIFICATE TO A DISQUALIFIED ORGANIZATION OR A
NON-UNITED STATES PERSON OR AN AGENT OF A DISQUALIFIED ORGANIZATION OR A
NON-UNITED STATES PERSON, OR TO ANY OTHER PROHIBITED TRANSFEREE AS PROVIDED IN
THE POOLING AND SERVICING AGREEMENT, SUCH REGISTRATION SHALL BE DEEMED TO BE OF
NO LEGAL FORCE OR EFFECT WHATSOEVER AND SUCH PERSON SHALL NOT BE DEEMED TO BE A
CERTIFICATEHOLDER FOR ANY PURPOSE HEREUNDER, INCLUDING, BUT NOT LIMITED TO, THE
RECEIPT OF DISTRIBUTIONS ON THIS CERTIFICATE. EACH HOLDER OF A CLASS R-II
CERTIFICATE BY ACCEPTANCE OF THIS CERTIFICATE SHALL BE DEEMED TO HAVE CONSENTED
TO THE PROVISIONS OF THIS PARAGRAPH.

<PAGE>

                    MORGAN STANLEY DEAN WITTER CAPITAL I INC.
                 COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES,
                                 SERIES 2002-IQ2

PERCENTAGE INTEREST OF THIS CLASS R-II    SPECIAL SERVICER:  LEND LEASE ASSET
CERTIFICATE:  100.0%                      MANAGEMENT, L.P.

DATE OF POOLING AND SERVICING             PAYING AGENT: LASALLE BANK NATIONAL
AGREEMENT:  AS OF JUNE 1, 2002            ASSOCIATION

CUT-OFF DATE:  JUNE 1, 2002

CLOSING DATE: JUNE 27, 2002               TRUSTEE:  LASALLE BANK NATIONAL
                                          ASSOCIATION

FIRST DISTRIBUTION DATE: JULY 15, 2002    FISCAL AGENT: ABN AMRO BANK N.V.

MASTER SERVICER:  ORIX CAPITAL MARKETS,   No.  R-II
LLC

                             CLASS R-II CERTIFICATE

evidencing a beneficial ownership interest in a Trust, consisting primarily of a
pool of commercial and multifamily mortgage loans (the "Mortgage Loans") and
certain other property, formed and sold by

                    MORGAN STANLEY DEAN WITTER CAPITAL I INC.

            THIS CERTIFIES THAT MORGAN STANLEY & CO. INCORPORATED is the
registered owner of the interest evidenced by this Certificate in the Class R-II
Certificates issued by the Trust created pursuant to the Pooling and Servicing
Agreement, dated as specified above (the "Pooling and Servicing Agreement"),
among Morgan Stanley Dean Witter Capital I Inc. (hereinafter called the
"Depositor", which term includes any successor entity under the Pooling and
Servicing Agreement), the Trustee, the Fiscal Agent, the Paying Agent, the
Master Servicer and the Special Servicer, a summary of certain of the pertinent
provisions of which is set forth hereafter. The Trust consists primarily of the
Mortgage Loans, such amounts as shall from time to time be held in the
Certificate Account and Distribution Account, the Insurance Policies and any REO
Properties. To the extent not defined herein, the capitalized terms used herein
have the meanings assigned in the Pooling and Servicing Agreement.

            This Certificate is one of a duly authorized issue of Certificates
designated as Certificates of the series specified on the face hereof (herein
called the "Certificates") and representing the Percentage Interest in the Class
R-II Certificates specified on the face hereof. The Certificates are designated
as the Morgan Stanley Dean Witter Capital I Inc. Commercial Mortgage
Pass-Through Certificates, Series 2002-IQ2 and are issued in the Classes as
specifically set forth in the Pooling and Servicing Agreement. The Certificates
will evidence in the aggregate 100% of the beneficial ownership of the Trust.

            This Certificate does not purport to summarize the Pooling and
Servicing Agreement and reference is made to that Agreement for information with
respect to the interests, rights, benefits, obligations, proceeds, and duties
evidenced hereby and the rights, duties and obligations of the Trustee and the
Paying Agent. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Pooling and Servicing Agreement, to which
Pooling and Servicing Agreement, as amended from time to time, the
Certificateholder by virtue of the acceptance hereof assents and by which the
Certificateholder is bound. In the case of any conflict between terms specified
in this Certificate and terms specified in the Pooling and Servicing Agreement,
the terms of the Pooling and Servicing Agreement shall govern.

            The Holder of this Certificate shall be entitled to receive only
certain amounts set forth in the Pooling and Servicing Agreement, including a
distribution upon termination of the Pooling and Servicing Agreement and the
related REMIC created thereby of the amounts which remain on deposit in the
Distribution Account after payment to the holders of all other Certificates of
all amounts set forth in the Pooling and Servicing Agreement. Distributions on
this Certificate will be made out of the Available Distribution Amount, to the
extent and subject to the limitations set forth in the Pooling and Servicing
Agreement, on the 15th day of each month or, if such 15th day is not a Business
Day, the next succeeding Business Day (a "Distribution Date") commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the last Business Day of
the month immediately preceding the month of such distribution (the "Record
Date"). All sums distributable on this Certificate are payable in the coin or
currency of the United States of America as at the time of payment is legal
tender for the payment of public and private debts.

            Unless the certificate of authentication hereon has been executed by
the Authenticating Agent, by manual signature, this Certificate shall not be
entitled to any benefit under the Pooling and Servicing Agreement or be valid
for any purpose.

            Realized Losses, Expense Losses and interest shortfalls on the
Mortgage Loans shall be allocated on the applicable Distribution Date to
Certificateholders in the manner set forth in the Pooling and Servicing
Agreement. All Realized Losses, Expense Losses and interest shortfalls on the
Mortgage Loans allocated to any Class of Certificates will be allocated pro rata
among the outstanding Certificates of such Class.

            The Certificates are limited in right of payment to certain
collections and recoveries respecting the Mortgage Loans, all as more
specifically set forth in the Pooling and Servicing Agreement. As provided in
the Pooling and Servicing Agreement, withdrawals from the Certificate Account
shall be made from time to time for purposes other than distributions to
Certificateholders, such purposes including reimbursement of certain expenses
incurred with respect to the servicing of the Mortgage Loans and administration
of the Trust.

            All distributions under the Pooling and Servicing Agreement to a
nominee of The Depository Trust Company ("DTC") will be made by or on behalf of
the Paying Agent by wire transfer in immediately available funds to an account
specified in the request of such Certificateholder. All distributions under the
Pooling and Servicing Agreement to Certificateholders will be made by wire
transfer in immediately available funds to the account specified by the
Certificateholder, at a bank or other entity having appropriate facilities
therefor, if such Certificateholder will have provided the Paying Agent with
wiring instructions on or prior to the related Record Date or otherwise by check
mailed to such Certificateholder. Notwithstanding the above, the final
distribution on any Certificate will be made only upon presentation and
surrender of such Certificate at the location that will be specified in a notice
of the pendency of such final distribution.

            The Pooling and Servicing Agreement permits, with certain exceptions
therein provided, the amendment thereof and the modification of the rights and
obligations of the Certificateholders under the Pooling and Servicing Agreement
at any time by the parties thereto with the consent of the Holders of not less
than 51% of the Aggregate Certificate Balance of the Certificates then
outstanding, as specified in the Pooling and Servicing Agreement. Any such
consent by the Holder of this Certificate shall be conclusive and binding on
such Holder and upon all future Holders of this Certificate and of any
Certificate issued upon the transfer hereof or in exchange herefor or in lieu
hereof whether or not notation of such consent is made upon the Certificate. The
Pooling and Servicing Agreement also permits the amendment thereof, in certain
limited circumstances, without the consent of the Holders of any of the
Certificates.

            As provided in the Pooling and Servicing Agreement and subject to
certain limitations therein set forth, the transfer of this Certificate is
registrable in the Certificate Register upon surrender of this Certificate for
registration of transfer at the Corporate Trust Office of the Certificate
Registrar, duly endorsed by, or accompanied by an assignment in the form below
or other written instrument of transfer in form satisfactory to the Certificate
Registrar duly executed by the Holder hereof or such Holder's attorney duly
authorized in writing, and thereupon one or more new Certificates of the same
Class in authorized denominations will be issued to the designated transferee or
transferees.

            The Residual Certificates will be issued in fully registered,
certificated form in minimum percentage interests of 10% and in multiples of 10%
in excess thereof.

            As provided in the Pooling and Servicing Agreement and subject to
certain limitations therein set forth, Certificates are exchangeable for new
Certificates of the same Class in authorized denominations as requested by the
Holder surrendering the same. No service charge will be made for any such
registration of transfer or exchange but the Certificate Registrar may require
payment of a sum sufficient to cover any tax or other governmental charge that
may be imposed in connection with any transfer or exchange of Certificates.

            The Depositor, the Trustee, the Fiscal Agent, the Paying Agent, the
Master Servicer, the Special Servicer and the Certificate Registrar and any of
their agents may treat the Person in whose name this Certificate is registered
as the owner hereof for all purposes, and neither the Depositor, the Trustee,
the Fiscal Agent, the Paying Agent, the Master Servicer, the Special Servicer,
the Certificate Registrar nor any such agents shall be affected by notice to the
contrary.

            The obligations and responsibilities of the Trustee and the Paying
Agent created hereby (other than the obligation of the Paying Agent to make
payments to the Certificateholders as set forth in Section 10.2 of the Pooling
and Servicing Agreement and other than the obligations in the nature of
information or tax reporting) shall terminate on the earliest of (i) the later
of (A) the final payment or other liquidation of the last Mortgage Loan
remaining in the Trust and (B) the disposition of all REO Property or (ii) the
sale of the property held by the Trust in accordance with Section 10.1(b) of the
Pooling and Servicing Agreement or (iii) the termination of the Trust pursuant
to Section 10.1(c) of the Pooling and Servicing Agreement; provided that in no
event shall the Trust continue beyond the expiration of 21 years from the death
of the last survivor of the descendants of Joseph P. Kennedy, the late
Ambassador of the United States to the Court of St. James, living on the date
hereof. The parties designated in the Pooling and Servicing Agreement may
exercise their option to purchase the Mortgage Loans and any other property
remaining in the Trust and cause the termination of the Trust in accordance with
the requirements set forth in the Pooling and Servicing Agreement. Upon
termination of the Trust and payment of the Certificates and of all
administrative expenses associated with the Trust, any remaining assets of the
Trust shall be distributed to the holders of the Residual Certificates.

            The Certificate Registrar has executed this Certificate under the
Pooling and Servicing Agreement.

            THIS CERTIFICATE AND THE POOLING AND SERVICING AGREEMENT SHALL BE
CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK
WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

<PAGE>

            IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed under this official seal.

                                        LASALLE BANK NATIONAL
                                           ASSOCIATION, as Certificate Registrar

                                        By:_____________________________________
                                                   AUTHORIZED SIGNATORY

Dated: June 27, 2002

                          CERTIFICATE OF AUTHENTICATION

            THIS IS ONE OF THE CLASS R-II CERTIFICATES REFERRED TO IN THE
WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

                                        LASALLE BANK NATIONAL
                                           ASSOCIATION,
                                           AUTHENTICATING AGENT

                                        By:_____________________________________
                                                   AUTHORIZED SIGNATORY

<PAGE>

                                  ABBREVIATIONS

The following abbreviations, when used in the inscription on the face of this
Certificate, shall be construed as though they were written out in full
according to applicable laws or regulations:

TEN COM - as tenant in common            UNIF GIFT MIN ACT.............Custodian
                                                             (Cust)
TEN ENT - as tenants by the entireties
                                              Under Uniform Gifts to Minors
JT TEN  - as joint tenants with
          rights of survivorship and
          not as tenants in common                Act..................
                                                         (State)

     Additional abbreviations may also be used though not in the above list.

                                FORM OF TRANSFER

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto

________________________________________________________________________________

____________________________________            PLEASE INSERT SOCIAL SECURITY OR
                                                OTHER IDENTIFYING NUMBER OF
____________________________________            ASSIGNEE

________________________________________________________________________________
             Please print or typewrite name and address of assignee

________________________________________________________________________________
the within Certificate and does hereby or irrevocably constitute and appoint

________________________________________________________________________________
to transfer the said Certificate in the Certificate Register of the within-named
Trust, with full power of substitution in the premises.

Dated:_________________________     ____________________________________________
                                    NOTICE: The signature to this assignment
                                    must correspond with the name as written
                                    upon the face of this Certificate in every
                                    particular without alteration or enlargement
                                    or any change whatever.

________________________________________
SIGNATURE GUARANTEED
The signature must be guaranteed by a
commercial bank or trust company or by a
member firm of the New York Stock
Exchange or another national securities
exchange. Notarized or witnessed
signatures are not acceptable.

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

            The assignee should include the following for purposes of
distribution:

            Distributions shall be made, by wire transfer or otherwise, in
immediately available funds to _____________ for the account of ________________
account number ______________ or, if mailed by check, to ______________________.
Statements should be mailed to ____________________. This information is
provided by assignee named above, or ______________________, as its agent.

<PAGE>

                                  EXHIBIT A-20

                        [FORM OF CLASS R-III CERTIFICATE]

THIS CLASS R-III CERTIFICATE DOES NOT CONSTITUTE AN OBLIGATION OF OR AN INTEREST
IN THE SELLERS, THE DEPOSITOR, THE PLACEMENT AGENT, THE TRUSTEE, THE FISCAL
AGENT, THE CERTIFICATE REGISTRAR, THE PAYING AGENT, THE MASTER SERVICER, THE
SPECIAL SERVICER, THE PRIMARY SERVICERS OR ANY OF THEIR RESPECTIVE AFFILIATES,
AND WILL NOT BE INSURED OR GUARANTEED BY ANY SUCH ENTITY OR BY ANY GOVERNMENTAL
AGENCY.

THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED OR QUALIFIED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR THE SECURITIES
LAWS OF ANY STATE. ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE
WITHOUT SUCH REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION
WHICH DOES NOT REQUIRE SUCH REGISTRATION OR QUALIFICATION AND WHICH IS IN
ACCORDANCE WITH THE PROVISIONS OF SECTION 3.3 OF THE POOLING AND SERVICING
AGREEMENT REFERRED TO HEREIN.

SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS THE
"RESIDUAL INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986 (THE "CODE"). THIS CERTIFICATE MAY NOT BE TRANSFERRED TO A
NON-UNITED STATES PERSON.

THIS CERTIFICATE MAY NOT BE SOLD, PLEDGED OR OTHERWISE TRANSFERRED TO
"DISQUALIFIED ORGANIZATIONS" WITHIN THE MEANING OF THE CODE.

NO TRANSFER OF THIS CERTIFICATE TO A RETIREMENT PLAN OR OTHER EMPLOYEE BENEFIT
PLAN OR ARRANGEMENT THAT IS SUBJECT TO TITLE I OF THE EMPLOYEE RETIREMENT INCOME
SECURITY ACT OF 1974, AS AMENDED ("ERISA"), SECTION 4975 OF THE CODE OR
APPLICABLE FEDERAL, STATE OR LOCAL LAW ("SIMILAR LAW") MATERIALLY SIMILAR TO THE
FOREGOING PROVISIONS OF ERISA OR THE CODE OR TO ANY PERSON WHO IS DIRECTLY OR
INDIRECTLY PURCHASING THIS CERTIFICATE ON BEHALF OF, AS NAMED FIDUCIARY OF, AS
TRUSTEE OF, OR WITH ASSETS OF ANY SUCH RETIREMENT PLAN OR OTHER EMPLOYEE BENEFIT
PLAN OR ARRANGEMENT, WILL BE REGISTERED EXCEPT IN COMPLIANCE WITH THE PROVISIONS
OF SECTION 3.3 OF THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.

A SALE, TRANSFER OR OTHER DISPOSITION OF THIS CLASS R-III CERTIFICATE MAY BE
MADE ONLY IF THE PROPOSED TRANSFEREE PROVIDES A TRANSFER AFFIDAVIT TO THE
CERTIFICATE REGISTRAR TO THE EFFECT THAT (1) SUCH TRANSFEREE AGREES TO BE BOUND
BY THE TERMS OF THE POOLING AND SERVICING AGREEMENT AND ALL RESTRICTIONS SET
FORTH ON THE FACE HEREOF, (2) SUCH TRANSFEREE IS NOT (A) THE UNITED STATES, ANY
STATE OR POLITICAL SUBDIVISION THEREOF, OR ANY AGENCY OR INSTRUMENTALITY OF ANY
OF THE FOREGOING (OTHER THAN AN INSTRUMENTALITY WHICH IS A CORPORATION IF ALL OF
ITS ACTIVITIES ARE SUBJECT TO TAX AND, EXCEPT FOR FHLMC, A MAJORITY OF ITS BOARD
OF DIRECTORS IS NOT SELECTED BY ANY SUCH GOVERNMENTAL UNIT), (B) AN ORGANIZATION
(OTHER THAN CERTAIN FARMERS' COOPERATIVES DESCRIBED IN SECTION 521 OF THE CODE)
WHICH IS EXEMPT FROM THE TAX IMPOSED BY CHAPTER 1 OF THE CODE (UNLESS SUCH
ORGANIZATION IS SUBJECT TO THE TAX IMPOSED BY SECTION 511 OF THE CODE ON
UNRELATED BUSINESS TAXABLE INCOME), (C) A RURAL ELECTRIC OR TELEPHONE
COOPERATIVE DESCRIBED IN SECTION 1381 OF THE CODE (ANY SUCH PERSON DESCRIBED IN
THE FOREGOING CLAUSES (A), (B) OR (C) BEING HEREINAFTER REFERRED TO AS A
"DISQUALIFIED ORGANIZATION"), (D) A PERSON THAT IS NOT A "UNITED STATES PERSON"
AS DEFINED IN SECTION 7701(A)(30) OF THE CODE OR (E) AN AGENT OF A DISQUALIFIED
ORGANIZATION OR A NON-UNITED STATES PERSON, AND (3) NO PURPOSE OF SUCH TRANSFER
IS TO ENABLE THE TRANSFEROR TO IMPEDE THE ASSESSMENT OR COLLECTION OF TAX.
NOTWITHSTANDING THE REGISTRATION IN THE CERTIFICATE REGISTER OF ANY TRANSFER,
SALE OR OTHER DISPOSITION OF THIS CLASS R-III CERTIFICATE TO A DISQUALIFIED
ORGANIZATION OR A NON-UNITED STATES PERSON OR AN AGENT OF A DISQUALIFIED
ORGANIZATION OR A NON-UNITED STATES PERSON, OR TO ANY OTHER PROHIBITED
TRANSFEREE AS PROVIDED IN THE POOLING AND SERVICING AGREEMENT, SUCH REGISTRATION
SHALL BE DEEMED TO BE OF NO LEGAL FORCE OR EFFECT WHATSOEVER AND SUCH PERSON
SHALL NOT BE DEEMED TO BE A CERTIFICATEHOLDER FOR ANY PURPOSE HEREUNDER,
INCLUDING, BUT NOT LIMITED TO, THE RECEIPT OF DISTRIBUTIONS ON THIS CERTIFICATE.
EACH HOLDER OF A CLASS R-III CERTIFICATE BY ACCEPTANCE OF THIS CERTIFICATE SHALL
BE DEEMED TO HAVE CONSENTED TO THE PROVISIONS OF THIS PARAGRAPH.

<PAGE>

                    MORGAN STANLEY DEAN WITTER CAPITAL I INC.
                 COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES,
                                 SERIES 2002-IQ2

PERCENTAGE INTEREST OF THIS CLASS R-III   SPECIAL SERVICER:  LEND LEASE ASSET
CERTIFICATE:  100%                        MANAGEMENT, L.P.

DATE OF POOLING AND SERVICING             PAYING AGENT: LASALLE BANK NATIONAL
AGREEMENT:  AS OF JUNE 1, 2002            ASSOCIATION

CUT-OFF DATE:  JUNE 1, 2002

CLOSING DATE: JUNE 27, 2002               TRUSTEE:  LASALLE BANK NATIONAL
                                          ASSOCIATION

FIRST DISTRIBUTION DATE: JULY 15, 2002    FISCAL AGENT: ABN AMRO BANK N.V.

MASTER SERVICER: ORIX CAPITAL MARKETS,    No.  R-III
LLC

                             CLASS R-III CERTIFICATE

evidencing a beneficial ownership interest in a Trust, consisting primarily of a
pool of commercial and multifamily mortgage loans (the "Mortgage Loans") and
certain other property, formed and sold by

                    MORGAN STANLEY DEAN WITTER CAPITAL I INC.

            THIS CERTIFIES THAT MORGAN STANLEY & CO. INCORPORATED is the
registered owner of the interest evidenced by this Certificate in the Class
R-III Certificates issued by the Trust created pursuant to the Pooling and
Servicing Agreement, dated as specified above (the "Pooling and Servicing
Agreement"), among Morgan Stanley Dean Witter Capital I Inc. (hereinafter called
the "Depositor", which term includes any successor entity under the Pooling and
Servicing Agreement), the Trustee, the Fiscal Agent, the Paying Agent, the
Master Servicer and the Special Servicer, a summary of certain of the pertinent
provisions of which is set forth hereafter. The Trust consists primarily of the
Mortgage Loans, such amounts as shall from time to time be held in the
Certificate Account and Distribution Account, the Insurance Policies and any REO
Properties. To the extent not defined herein, the capitalized terms used herein
have the meanings assigned in the Pooling and Servicing Agreement.

            This Certificate is one of a duly authorized issue of Certificates
designated as Certificates of the series specified on the face hereof (herein
called the "Certificates") and representing the Percentage Interest in the Class
R-III Certificates specified on the face hereof. The Certificates are designated
as the Morgan Stanley Dean Witter Capital I Inc. Commercial Mortgage
Pass-Through Certificates, Series 2002-IQ2 and are issued in the Classes as
specifically set forth in the Pooling and Servicing Agreement. The Certificates
will evidence in the aggregate 100% of the beneficial ownership of the Trust.

            This Certificate does not purport to summarize the Pooling and
Servicing Agreement and reference is made to that Agreement for information with
respect to the interests, rights, benefits, obligations, proceeds, and duties
evidenced hereby and the rights, duties and obligations of the Trustee and the
Paying Agent. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Pooling and Servicing Agreement, to which
Pooling and Servicing Agreement, as amended from time to time, the
Certificateholder by virtue of the acceptance hereof assents and by which the
Certificateholder is bound. In the case of any conflict between terms specified
in this Certificate and terms specified in the Pooling and Servicing Agreement,
the terms of the Pooling and Servicing Agreement shall govern.

            The Holder of this Certificate shall be entitled to receive only
certain amounts set forth in the Pooling and Servicing Agreement, including a
distribution upon termination of the Pooling and Servicing Agreement and the
related REMIC created thereby of the amounts which remain on deposit in the
Distribution Account after payment to the holders of all other Certificates of
all amounts set forth in the Pooling and Servicing Agreement. Distributions on
this Certificate will be made out of the Available Distribution Amount, to the
extent and subject to the limitations set forth in the Pooling and Servicing
Agreement, on the 15th day of each month or, if such 15th day is not a Business
Day, the next succeeding Business Day (a "Distribution Date") commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the last Business Day of
the month immediately preceding the month of such distribution (the "Record
Date"). All sums distributable on this Certificate are payable in the coin or
currency of the United States of America as at the time of payment is legal
tender for the payment of public and private debts.

            Unless the certificate of authentication hereon has been executed by
the Authenticating Agent, by manual signature, this Certificate shall not be
entitled to any benefit under the Pooling and Servicing Agreement or be valid
for any purpose.

            Realized Losses, Expense Losses and interest shortfalls on the
Mortgage Loans shall be allocated on the applicable Distribution Date to
Certificateholders in the manner set forth in the Pooling and Servicing
Agreement. All Realized Losses, Expense Losses and interest shortfalls on the
Mortgage Loans allocated to any Class of Certificates will be allocated pro rata
among the outstanding Certificates of such Class.

            The Certificates are limited in right of payment to certain
collections and recoveries respecting the Mortgage Loans, all as more
specifically set forth in the Pooling and Servicing Agreement. As provided in
the Pooling and Servicing Agreement, withdrawals from the Certificate Account
shall be made from time to time for purposes other than distributions to
Certificateholders, such purposes including reimbursement of certain expenses
incurred with respect to the servicing of the Mortgage Loans and administration
of the Trust.

            All distributions under the Pooling and Servicing Agreement to a
nominee of The Depository Trust Company ("DTC") will be made by or on behalf of
the Paying Agent by wire transfer in immediately available funds to an account
specified in the request of such Certificateholder. All distributions under the
Pooling and Servicing Agreement to Certificateholders will be made by wire
transfer in immediately available funds to the account specified by the
Certificateholder, at a bank or other entity having appropriate facilities
therefor, if such Certificateholder will have provided the Paying Agent with
wiring instructions on or prior to the related Record Date or otherwise by check
mailed to such Certificateholder. Notwithstanding the above, the final
distribution on any Certificate will be made only upon presentation and
surrender of such Certificate at the location that will be specified in a notice
of the pendency of such final distribution.

            The Pooling and Servicing Agreement permits, with certain exceptions
therein provided, the amendment thereof and the modification of the rights and
obligations of the Certificateholders under the Pooling and Servicing Agreement
at any time by the parties thereto with the consent of the Holders of not less
than 51% of the Aggregate Certificate Balance of the Certificates then
outstanding, as specified in the Pooling and Servicing Agreement. Any such
consent by the Holder of this Certificate shall be conclusive and binding on
such Holder and upon all future Holders of this Certificate and of any
Certificate issued upon the transfer hereof or in exchange herefor or in lieu
hereof whether or not notation of such consent is made upon the Certificate. The
Pooling and Servicing Agreement also permits the amendment thereof, in certain
limited circumstances, without the consent of the Holders of any of the
Certificates.

            As provided in the Pooling and Servicing Agreement and subject to
certain limitations therein set forth, the transfer of this Certificate is
registrable in the Certificate Register upon surrender of this Certificate for
registration of transfer at the Corporate Trust Office of the Certificate
Registrar, duly endorsed by, or accompanied by an assignment in the form below
or other written instrument of transfer in form satisfactory to the Certificate
Registrar duly executed by the Holder hereof or such Holder's attorney duly
authorized in writing, and thereupon one or more new Certificates of the same
Class in authorized denominations will be issued to the designated transferee or
transferees.

            The Residual Certificates will be issued in fully registered,
certificated form in minimum percentage interests of 10% and in multiples of 10%
in excess thereof.

            As provided in the Pooling and Servicing Agreement and subject to
certain limitations therein set forth, Certificates are exchangeable for new
Certificates of the same Class in authorized denominations as requested by the
Holder surrendering the same. No service charge will be made for any such
registration of transfer or exchange but the Certificate Registrar may require
payment of a sum sufficient to cover any tax or other governmental charge that
may be imposed in connection with any transfer or exchange of Certificates.

            The Depositor, the Trustee, the Fiscal Agent, the Paying Agent, the
Master Servicer, the Special Servicer and the Certificate Registrar and any of
their agents may treat the Person in whose name this Certificate is registered
as the owner hereof for all purposes, and neither the Depositor, the Trustee,
the Fiscal Agent, the Paying Agent, the Master Servicer, the Special Servicer,
the Certificate Registrar nor any such agents shall be affected by notice to the
contrary.

            The obligations and responsibilities of the Trustee and the Paying
Agent created hereby (other than the obligation of the Paying Agent to make
payments to the Certificateholders as set forth in Section 10.2 of the Pooling
and Servicing Agreement and other than the obligations in the nature of
information or tax reporting) shall terminate on the earliest of (i) the later
of (A) the final payment or other liquidation of the last Mortgage Loan
remaining in the Trust and (B) the disposition of all REO Property or (ii) the
sale of the property held by the Trust in accordance with Section 10.1(b) of the
Pooling and Servicing Agreement or (iii) the termination of the Trust pursuant
to Section 10.1(c) of the Pooling and Servicing Agreement; provided that in no
event shall the Trust continue beyond the expiration of 21 years from the death
of the last survivor of the descendants of Joseph P. Kennedy, the late
Ambassador of the United States to the Court of St. James, living on the date
hereof. The parties designated in the Pooling and Servicing Agreement may
exercise their option to purchase the Mortgage Loans and any other property
remaining in the Trust and cause the termination of the Trust in accordance with
the requirements set forth in the Pooling and Servicing Agreement. Upon
termination of the Trust and payment of the Certificates and of all
administrative expenses associated with the Trust, any remaining assets of the
Trust shall be distributed to the holders of the Residual Certificates.

            The Certificate Registrar has executed this Certificate under the
Pooling and Servicing Agreement.

            THIS CERTIFICATE AND THE POOLING AND SERVICING AGREEMENT SHALL BE
CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK
WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

<PAGE>

            IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed under this official seal.

                                        LASALLE BANK NATIONAL
                                           ASSOCIATION, as Certificate Registrar

                                        By:_____________________________________
                                                   AUTHORIZED SIGNATORY

Dated: June 27, 2002

                          CERTIFICATE OF AUTHENTICATION

            THIS IS ONE OF THE CLASS R-III CERTIFICATES REFERRED TO IN THE
WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

                                        LASALLE BANK NATIONAL
                                           ASSOCIATION,
                                           AUTHENTICATING AGENT

                                        By:_____________________________________
                                                   AUTHORIZED SIGNATORY

<PAGE>

                                  ABBREVIATIONS

The following abbreviations, when used in the inscription on the face of this
Certificate, shall be construed as though they were written out in full
according to applicable laws or regulations:

TEN COM - as tenant in common            UNIF GIFT MIN ACT.............Custodian
                                                             (Cust)
TEN ENT - as tenants by the entireties
                                              Under Uniform Gifts to Minors
JT TEN  - as joint tenants with
          rights of survivorship and
          not as tenants in common                Act..................
                                                         (State)

     Additional abbreviations may also be used though not in the above list.

                                FORM OF TRANSFER

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto

________________________________________________________________________________

____________________________________            PLEASE INSERT SOCIAL SECURITY OR
                                                OTHER IDENTIFYING NUMBER OF
____________________________________            ASSIGNEE

________________________________________________________________________________
             Please print or typewrite name and address of assignee

________________________________________________________________________________
the within Certificate and does hereby or irrevocably constitute and appoint

________________________________________________________________________________
to transfer the said Certificate in the Certificate Register of the within-named
Trust, with full power of substitution in the premises.

Dated:_________________________     ____________________________________________
                                    NOTICE: The signature to this assignment
                                    must correspond with the name as written
                                    upon the face of this Certificate in every
                                    particular without alteration or enlargement
                                    or any change whatever.

________________________________________
SIGNATURE GUARANTEED
The signature must be guaranteed by a
commercial bank or trust company or by a
member firm of the New York Stock
Exchange or another national securities
exchange. Notarized or witnessed
signatures are not acceptable.

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

            The assignee should include the following for purposes of
distribution:

            Distributions shall be made, by wire transfer or otherwise, in
immediately available funds to _____________ for the account of ________________
account number ______________ or, if mailed by check, to ______________________.
Statements should be mailed to ____________________. This information is
provided by assignee named above, or ______________________, as its agent.

<PAGE>

                                  EXHIBIT A-21

                         [FORM OF CLASS X-1 CERTIFICATE]

THIS CLASS X-1 CERTIFICATE DOES NOT CONSTITUTE AN OBLIGATION OF OR AN INTEREST
IN THE SELLERS, THE DEPOSITOR, THE PLACEMENT AGENT, THE TRUSTEE, THE FISCAL
AGENT, THE CERTIFICATE REGISTRAR, THE PAYING AGENT, THE MASTER SERVICER, THE
SPECIAL SERVICER, THE PRIMARY SERVICERS OR ANY OF THEIR RESPECTIVE AFFILIATES,
AND WILL NOT BE INSURED OR GUARANTEED BY ANY SUCH ENTITY OR BY ANY GOVERNMENTAL
AGENCY.

THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED OR QUALIFIED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR THE SECURITIES
LAWS OF ANY STATE. ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE
WITHOUT SUCH REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION
WHICH DOES NOT REQUIRE SUCH REGISTRATION OR QUALIFICATION AND WHICH IS IN
ACCORDANCE WITH THE PROVISIONS OF SECTION 3.3 OF THE POOLING AND SERVICING
AGREEMENT REFERRED TO HEREIN.

IF THE TRANSFEREE OF THIS CERTIFICATE IS AN EMPLOYEE BENEFIT PLAN SUBJECT TO THE
FIDUCIARY RESPONSIBILITY PROVISIONS OF THE EMPLOYEE RETIREMENT INCOME SECURITY
ACT OF 1974, AS AMENDED, OR SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986,
AS AMENDED, OR ANY PERSON ACTING ON BEHALF OF ANY SUCH PLAN OR USING THE ASSETS
OF SUCH PLAN TO ACQUIRE OR HOLD THIS CERTIFICATE, SUCH PLAN OR SUCH PERSON MUST
BE AN ACCREDITED INVESTOR.

THE INITIAL NOTIONAL AMOUNT HEREOF IS AS SET FORTH HEREIN, REDUCED OR INCREASED
AS SET FORTH IN THE SCHEDULE OF EXCHANGES ATTACHED HERETO.

THE PORTION OF THE NOTIONAL AMOUNT OF THE CERTIFICATES EVIDENCED BY THIS
CERTIFICATE WILL BE DECREASED BY THE PORTION OF PRINCIPAL PAYMENTS, REALIZED
LOSSES AND CERTAIN EXPENSE LOSSES ON THE MORTGAGE LOANS ALLOCABLE TO THE
NOTIONAL AMOUNT OF THIS CLASS X-1 CERTIFICATE. ACCORDINGLY, THE NOTIONAL AMOUNT
OF THIS CERTIFICATE MAY BE LESS THAN THAT SET FORTH BELOW. ANYONE ACQUIRING THIS
CERTIFICATE MAY ASCERTAIN ITS CURRENT NOTIONAL AMOUNT BY INQUIRY OF THE PAYING
AGENT.

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO THE CERTIFICATE
REGISTRAR OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND
ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER
NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
HEREON IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED
OWNER HEREOF, CEDE & CO. HAS AN INTEREST HEREIN.

THIS CERTIFICATE REPRESENTS A "REGULAR INTEREST" IN A "REAL ESTATE MORTGAGE
INVESTMENT CONDUIT," AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G
AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE").

[THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED
STATES SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT") AND, PRIOR TO
THE DATE THAT IS 40 DAYS AFTER THE OFFERING OF THE CERTIFICATES, MAY NOT BE
OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED IN THE UNITED STATES OR TO A
U.S. PERSON EXCEPT PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS
OF THE SECURITIES ACT.](1)

----------
(1)   For Reg S Book-Entry Certificates only

<PAGE>

                    MORGAN STANLEY DEAN WITTER CAPITAL I INC.
                 COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES,
                                 SERIES 2002-IQ2

INITIAL PASS-THROUGH RATE:  0.32%         MASTER SERVICER:  ORIX CAPITAL
                                          MARKETS, LLC

INITIAL NOTIONAL AMOUNT OF THIS           SPECIAL SERVICER:  LEND LEASE ASSET
CLASS X-1 CERTIFICATE: $778,574,565       MANAGEMENT, L.P.

DATE OF POOLING AND SERVICING             PAYING AGENT: LASALLE BANK NATIONAL
AGREEMENT:  AS OF JUNE 1, 2002            ASSOCIATION

CUT-OFF DATE:  JUNE 1, 2002

CLOSING DATE: JUNE 27, 2002               TRUSTEE:  LASALLE BANK NATIONAL
                                          ASSOCIATION

FIRST DISTRIBUTION DATE: JULY 15, 2002    FISCAL AGENT: ABN AMRO BANK N.V.

AGGREGATE NOTIONAL AMOUNT OF THE CLASS    CUSIP NO. [__________]
X-1 CERTIFICATES AS OF THE CLOSING
DATE:  $778,574,565

CERTIFICATE BALANCE OF THIS CLASS X-1     No.  X-1-[1][2]
CERTIFICATE AS OF THE CLOSING DATE:
$[__________] (SUBJECT TO SCHEDULE OF
EXCHANGES ATTACHED)

                              CLASS X-1 CERTIFICATE

evidencing a beneficial ownership interest in a Trust, consisting primarily of a
pool of commercial and multifamily mortgage loans (the "Mortgage Loans") and
certain other property, formed and sold by

                    MORGAN STANLEY DEAN WITTER CAPITAL I INC.

            THIS CERTIFIES THAT CEDE & CO. is the registered owner of the
interest evidenced by this Certificate in the Class X-1 Certificates issued by
the Trust created pursuant to the Pooling and Servicing Agreement, dated as
specified above (the "Pooling and Servicing Agreement"), among Morgan Stanley
Dean Witter Capital I Inc. (hereinafter called the "Depositor," which term
includes any successor entity under the Pooling and Servicing Agreement), the
Trustee, the Fiscal Agent, the Paying Agent, the Certificate Registrar, the
Master Servicer and the Special Servicer, a summary of certain of the pertinent
provisions of which is set forth hereafter. The Trust consists primarily of the
Mortgage Loans, such amounts as shall from time to time be held in the
Certificate Account and Distribution Account, the Insurance Policies and any REO
Properties. To the extent not defined herein, the capitalized terms used herein
have the meanings assigned in the Pooling and Servicing Agreement.

            This Certificate is one of a duly authorized issue of Certificates
designated as Certificates of the series specified on the face hereof (herein
called the "Certificates") and representing an interest in the Class of
Certificates specified on the face hereof equal to the quotient expressed as a
percentage obtained by dividing the Notional Amount of this Certificate
specified on the face hereof by the initial aggregate Notional Amount of the
Class X-1 Certificates. The Certificates are designated as the Morgan Stanley
Dean Witter Capital I Inc., Commercial Mortgage Pass-Through Certificates,
Series 2002-IQ2 and are issued in the Classes specified in the Pooling and
Servicing Agreement. The Certificates will evidence in the aggregate 100% of the
beneficial ownership of the Trust.

            This Certificate does not purport to summarize the Pooling and
Servicing Agreement and reference is made to that Agreement for information with
respect to the interests, rights, benefits, obligations, proceeds, and duties
evidenced hereby and the rights, duties and obligations of the Trustee and the
Paying Agent. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Pooling and Servicing Agreement, to which
Pooling and Servicing Agreement, as amended from time to time, the
Certificateholder by virtue of the acceptance hereof assents and by which the
Certificateholder is bound. In the case of any conflict between terms specified
in this Certificate and terms specified in the Pooling and Servicing Agreement,
the terms of the Pooling and Servicing Agreement shall govern.

            Distributions of interest on this Certificate will be made out of
the Available Distribution Amount, to the extent and subject to the limitations
set forth in the Pooling and Servicing Agreement, on the 15th day of each month
or, if such 15th day is not a Business Day, the next succeeding Business Day (a
"Distribution Date") commencing on the first Distribution Date specified above,
to the Person in whose name this Certificate is registered at the close of
business on the last Business Day of the month immediately preceding the month
of such distribution (the "Record Date"). All sums distributable on this
Certificate are payable in the coin or currency of the United States of America
as at the time of payment is legal tender for the payment of public and private
debts.

            Interest on this Certificate will accrue (computed as if each year
consisted of 360 days and each month consisted of 30 days) during the Interest
Accrual Period relating to such Distribution Date at the Pass-Through Rate on
the Notional Amount of this Certificate immediately prior to each Distribution
Date. Interest allocated to this Certificate on any Distribution Date will be in
an amount due to this Certificate's pro rata share of the amount to be
distributed on the Certificates of this Class as of such Distribution Date, with
a final distribution to be made upon retirement of this Certificate as set forth
in the Pooling and Servicing Agreement.

            Unless the certificate of authentication hereon has been executed by
the Authenticating Agent, by manual signature, this Certificate shall not be
entitled to any benefit under the Pooling and Servicing Agreement or be valid
for any purpose.

            Realized Losses, Expense Losses and interest shortfalls on the
Mortgage Loans shall be allocated on the applicable Distribution Date to
Certificateholders in the manner set forth in the Pooling and Servicing
Agreement. All Realized Losses, Expense Losses and interest shortfalls on the
Mortgage Loans allocated to any Class of Certificates will be allocated pro rata
among the outstanding Certificates of such Class.

            The Certificates are limited in right of payment to certain
collections and recoveries respecting the Mortgage Loans, all as more
specifically set forth in the Pooling and Servicing Agreement. As provided in
the Pooling and Servicing Agreement, withdrawals from the Certificate Account
shall be made from time to time for purposes other than distributions to
Certificateholders, such purposes including reimbursement of certain expenses
incurred with respect to the servicing of the Mortgage Loans and administration
of the Trust.

            All distributions under the Pooling and Servicing Agreement to a
nominee of The Depository Trust Company ("DTC") will be made by or on behalf of
the Paying Agent by wire transfer in immediately available funds to an account
specified in the request of such Certificateholder. All distributions under the
Pooling and Servicing Agreement to Certificateholders will be made by wire
transfer in immediately available funds to the account specified by the
Certificateholder, at a bank or other entity having appropriate facilities
therefor, if such Certificateholder will have provided the Paying Agent with
wiring instructions on or prior to the related Record Date or otherwise by check
mailed to such Certificateholder. Notwithstanding the above, the final
distribution on any Certificate will be made only upon presentation and
surrender of such Certificate at the location that will be specified in a notice
of the pendency of such final distribution.

            The Pooling and Servicing Agreement permits, with certain exceptions
therein provided, the amendment thereof and the modification of the rights and
obligations of the Certificateholders under the Pooling and Servicing Agreement
at any time by the parties thereto with the consent of the Holders of not less
than 51% of the Aggregate Certificate Balance of the Certificates then
outstanding, as specified in the Pooling and Servicing Agreement. Any such
consent by the Holder of this Certificate shall be conclusive and binding on
such Holder and upon all future Holders of this Certificate and of any
Certificate issued upon the transfer hereof or in exchange herefor or in lieu
hereof whether or not notation of such consent is made upon the Certificate. The
Pooling and Servicing Agreement also permits the amendment thereof, in certain
circumstances, without the consent of the Holders of any of the Certificates.

            As provided in the Pooling and Servicing Agreement and subject to
certain limitations therein set forth, the transfer of this Certificate is
registrable in the Certificate Register upon surrender of this Certificate for
registration of transfer at the Corporate Trust Office of the Certificate
Registrar, duly endorsed by, or accompanied by an assignment in the form below
or other written instrument of transfer in form satisfactory to the Certificate
Registrar duly executed by the Holder hereof or such Holder's attorney duly
authorized in writing, and thereupon one or more new Certificates of the same
Class in authorized denominations will be issued to the designated transferee or
transferees.

            Subject to the terms of the Pooling and Servicing Agreement, the
Class X-1 Certificates will be issued in denominations of $100,000 initial
Notional Amount and in any whole dollar denomination in excess thereof.

            As provided in the Pooling and Servicing Agreement and subject to
certain limitations therein set forth, Certificates are exchangeable for new
Certificates of the same Class in authorized denominations as requested by the
Holder surrendering the same. No service charge will be made for any such
registration of transfer or exchange but the Certificate Registrar may require
payment of a sum sufficient to cover any tax or other governmental charge that
may be imposed in connection with any transfer or exchange of Certificates.

            Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book entry facilities of DTC.

            The Depositor, the Trustee, the Fiscal Agent, the Paying Agent, the
Master Servicer, the Special Servicer and the Certificate Registrar and any of
their agents may treat the Person in whose name this Certificate is registered
as the owner hereof for all purposes, and neither the Depositor, the Trustee,
the Fiscal Agent, the Paying Agent, the Master Servicer, the Special Servicer,
the Certificate Registrar nor any such agents shall be affected by notice to the
contrary.

            The obligations and responsibilities of the Trustee and the Paying
Agent created hereby (other than the obligation of the Paying Agent to make
payments to the Certificateholders as set forth in Section 10.2 of the Pooling
and Servicing Agreement and other than the obligations in the nature of
information or tax reporting) shall terminate on the earliest of (i) the later
of (A) the final payment or other liquidation of the last Mortgage Loan
remaining in the Trust and (B) the disposition of all REO Property or (ii) the
sale of the property held by the Trust in accordance with Section 10.1(b) of the
Pooling and Servicing Agreement or (iii) the termination of the Trust pursuant
to Section 10.1(c) of the Pooling and Servicing Agreement; provided that in no
event shall the Trust continue beyond the expiration of 21 years from the death
of the last survivor of the descendants of Joseph P. Kennedy, the late
Ambassador of the United States to the Court of St. James, living on the date
hereof. The parties designated in the Pooling and Servicing Agreement may
exercise their option to purchase the Mortgage Loans and any other property
remaining in the Trust and cause the termination of the Trust in accordance with
the requirements set forth in the Pooling and Servicing Agreement. Upon
termination of the Trust and payment of the Certificates and of all
administrative expenses associated with the Trust, any remaining assets of the
Trust shall be distributed to the holders of the Residual Certificates.

            The Certificate Registrar has executed this Certificate under the
Pooling and Servicing Agreement.

            THIS CERTIFICATE AND THE POOLING AND SERVICING AGREEMENT SHALL BE
CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK
WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

<PAGE>

            IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed under this official seal.

                                        LASALLE BANK NATIONAL
                                           ASSOCIATION, as Certificate Registrar

                                        By:_____________________________________
                                                   AUTHORIZED SIGNATORY

Dated: June 27, 2002

                          CERTIFICATE OF AUTHENTICATION

            THIS IS ONE OF THE CLASS X-1 CERTIFICATES REFERRED TO IN THE
WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

                                        LASALLE BANK NATIONAL
                                           ASSOCIATION,
                                           AUTHENTICATING AGENT

                                        By:_____________________________________
                                                   AUTHORIZED SIGNATORY

<PAGE>

                                  ABBREVIATIONS

The following abbreviations, when used in the inscription on the face of this
Certificate, shall be construed as though they were written out in full
according to applicable laws or regulations:

TEN COM - as tenant in common            UNIF GIFT MIN ACT.............Custodian
                                                             (Cust)
TEN ENT - as tenants by the entireties
                                              Under Uniform Gifts to Minors
JT TEN  - as joint tenants with
          rights of survivorship and
          not as tenants in common                Act..................
                                                         (State)

     Additional abbreviations may also be used though not in the above list.

                                FORM OF TRANSFER

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto

________________________________________________________________________________

____________________________________            PLEASE INSERT SOCIAL SECURITY OR
                                                OTHER IDENTIFYING NUMBER OF
____________________________________            ASSIGNEE

________________________________________________________________________________
             Please print or typewrite name and address of assignee

________________________________________________________________________________
the within Certificate and does hereby or irrevocably constitute and appoint

________________________________________________________________________________
to transfer the said Certificate in the Certificate Register of the within-named
Trust, with full power of substitution in the premises.

Dated:_________________________     ____________________________________________
                                    NOTICE: The signature to this assignment
                                    must correspond with the name as written
                                    upon the face of this Certificate in every
                                    particular without alteration or enlargement
                                    or any change whatever.

________________________________________
SIGNATURE GUARANTEED
The signature must be guaranteed by a
commercial bank or trust company or by a
member firm of the New York Stock
Exchange or another national securities
exchange. Notarized or witnessed
signatures are not acceptable.

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

            The assignee should include the following for purposes of
distribution:

            Distributions shall be made, by wire transfer or otherwise, in
immediately available funds to _____________ for the account of ________________
account number ______________ or, if mailed by check, to ______________________.
Statements should be mailed to ____________________. This information is
provided by assignee named above, or ______________________, as its agent.

<PAGE>

                     [TO BE ATTACHED TO GLOBAL CERTIFICATES]

                  SCHEDULE OF EXCHANGES OF GLOBAL CERTIFICATES

The following exchanges of a part of this Global Certificate have been made:

<PAGE>

                                  EXHIBIT A-22

                         [FORM OF CLASS X-2 CERTIFICATE]

THIS CLASS X-2 CERTIFICATE DOES NOT CONSTITUTE AN OBLIGATION OF OR AN INTEREST
IN THE SELLERS, THE DEPOSITOR, THE PLACEMENT AGENT, THE TRUSTEE, THE FISCAL
AGENT, THE CERTIFICATE REGISTRAR, THE PAYING AGENT, THE MASTER SERVICER, THE
SPECIAL SERVICER, THE PRIMARY SERVICERS OR ANY OF THEIR RESPECTIVE AFFILIATES,
AND WILL NOT BE INSURED OR GUARANTEED BY ANY SUCH ENTITY OR BY ANY GOVERNMENTAL
AGENCY.A REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED
(THE "SECURITIES ACT"), OR THE SECURITIES LAWS OF ANY STATE. ANY RESALE,
TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR
QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH
REGISTRATION OR QUALIFICATION AND WHICH IS IN ACCORDANCE WITH THE PROVISIONS OF
SECTION 3.3 OF THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.

IF THE TRANSFEREE OF THIS CERTIFICATE IS AN EMPLOYEE BENEFIT PLAN SUBJECT TO THE
FIDUCIARY RESPONSIBILITY PROVISIONS OF THE EMPLOYEE RETIREMENT INCOME SECURITY
ACT OF 1974, AS AMENDED, OR SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986,
AS AMENDED, OR ANY PERSON ACTING ON BEHALF OF ANY SUCH PLAN OR USING THE ASSETS
OF SUCH PLAN TO ACQUIRE OR HOLD THIS CERTIFICATE, SUCH PLAN OR SUCH PERSON MUST
BE AN ACCREDITED INVESTOR.

THE INITIAL NOTIONAL AMOUNT HEREOF IS AS SET FORTH HEREIN, REDUCED OR INCREASED
AS SET FORTH IN THE SCHEDULE OF EXCHANGES ATTACHED HERETO.

THE PORTION OF THE NOTIONAL AMOUNT OF THE CERTIFICATES EVIDENCED BY THIS
CERTIFICATE WILL BE DECREASED BY THE PORTION OF PRINCIPAL PAYMENTS, REALIZED
LOSSES AND CERTAIN EXPENSE LOSSES ON THE MORTGAGE LOANS ALLOCABLE TO THE
NOTIONAL AMOUNT OF THIS CLASS X-2 CERTIFICATE. ACCORDINGLY, THE NOTIONAL AMOUNT
OF THIS CERTIFICATE MAY BE LESS THAN THAT SET FORTH BELOW. ANYONE ACQUIRING THIS
CERTIFICATE MAY ASCERTAIN ITS CURRENT NOTIONAL AMOUNT BY INQUIRY OF THE PAYING
AGENT.

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO THE CERTIFICATE
REGISTRAR OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND
ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER
NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
HEREON IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED
OWNER HEREOF, CEDE & CO. HAS AN INTEREST HEREIN.

THIS CERTIFICATE REPRESENTS A "REGULAR INTEREST" IN A "REAL ESTATE MORTGAGE
INVESTMENT CONDUIT," AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G
AND 860d OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE").

[THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED
STATES SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT") AND, PRIOR TO
THE DATE THAT IS 40 DAYS AFTER THE OFFERING OF THE CERTIFICATES, MAY NOT BE
OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED IN THE UNITED STATES OR TO A
U.S. PERSON EXCEPT PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS
OF THE SECURITIES ACT.](1)

----------
(1)   For Reg S Book-Entry Certificates only

<PAGE>

                    MORGAN STANLEY DEAN WITTER CAPITAL I INC.
                 COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES,
                                 SERIES 2002-IQ2

INITIAL PASS-THROUGH RATE:  1.75%         MASTER SERVICER:  ORIX CAPITAL
                                          MARKETS, LLC

INITIAL NOTIONAL AMOUNT OF THIS           SPECIAL SERVICER: LEND LEASE ASSET
CLASS X-2 CERTIFICATE: $691,924,000       MANAGEMENT, L.P.

DATE OF POOLING AND SERVICING             PAYING AGENT: LASALLE BANK NATIONAL
AGREEMENT:  AS OF JUNE 1, 2002            ASSOCIATION

CUT-OFF DATE:  JUNE 1, 2002

CLOSING DATE: JUNE 27, 2002               TRUSTEE:  LASALLE BANK NATIONAL
                                          ASSOCIATION

FIRST DISTRIBUTION DATE: JULY 15, 2002    FISCAL AGENT: ABN AMRO BANK N.V.

AGGREGATE NOTIONAL AMOUNT OF THE CLASS    CUSIP NO. [__________]
X-2 CERTIFICATES AS OF THE CLOSING
DATE:  $691,924,000

CERTIFICATE BALANCE OF THIS CLASS X-2     No.  X-2-[1][2]
CERTIFICATE AS OF THE CLOSING DATE:
$[__________] (SUBJECT TO SCHEDULE OF
EXCHANGES ATTACHED)

                              CLASS X-2 CERTIFICATE

evidencing a beneficial ownership interest in a Trust, consisting primarily of a
pool of commercial and multifamily mortgage loans (the "Mortgage Loans") and
certain other property, formed and sold by

                    MORGAN STANLEY DEAN WITTER CAPITAL I INC.

            THIS CERTIFIES THAT CEDE & CO. is the registered owner of the
interest evidenced by this Certificate in the Class X-2 Certificates issued by
the Trust created pursuant to the Pooling and Servicing Agreement, dated as
specified above (the "Pooling and Servicing Agreement"), among Morgan Stanley
Dean Witter Capital I Inc. (hereinafter called the "Depositor," which term
includes any successor entity under the Pooling and Servicing Agreement), the
Trustee, the Fiscal Agent, the Paying Agent, the Certificate Registrar, the
Master Servicer and the Special Servicer, a summary of certain of the pertinent
provisions of which is set forth hereafter. The Trust consists primarily of the
Mortgage Loans, such amounts as shall from time to time be held in the
Certificate Account and Distribution Account, the Insurance Policies and any REO
Properties. To the extent not defined herein, the capitalized terms used herein
have the meanings assigned in the Pooling and Servicing Agreement.

            This Certificate is one of a duly authorized issue of Certificates
designated as Certificates of the series specified on the face hereof (herein
called the "Certificates") and representing an interest in the Class of
Certificates specified on the face hereof equal to the quotient expressed as a
percentage obtained by dividing the Notional Amount of this Certificate
specified on the face hereof by the initial aggregate Notional Amount of the
Class X-2 Certificates. The Certificates are designated as the Morgan Stanley
Dean Witter Capital I Inc., Commercial Mortgage Pass-Through Certificates,
Series 2002-IQ2 and are issued in the Classes specified in the Pooling and
Servicing Agreement. The Certificates will evidence in the aggregate 100% of the
beneficial ownership of the Trust.

            This Certificate does not purport to summarize the Pooling and
Servicing Agreement and reference is made to that Agreement for information with
respect to the interests, rights, benefits, obligations, proceeds, and duties
evidenced hereby and the rights, duties and obligations of the Trustee and the
Paying Agent. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Pooling and Servicing Agreement, to which
Pooling and Servicing Agreement, as amended from time to time, the
Certificateholder by virtue of the acceptance hereof assents and by which the
Certificateholder is bound. In the case of any conflict between terms specified
in this Certificate and terms specified in the Pooling and Servicing Agreement,
the terms of the Pooling and Servicing Agreement shall govern.

            Distributions of interest on this Certificate will be made out of
the Available Distribution Amount, to the extent and subject to the limitations
set forth in the Pooling and Servicing Agreement, on the 15th day of each month
or, if such 15th day is not a Business Day, the next succeeding Business Day (a
"Distribution Date") commencing on the first Distribution Date specified above,
to the Person in whose name this Certificate is registered at the close of
business on the last Business Day of the month immediately preceding the month
of such distribution (the "Record Date"). All sums distributable on this
Certificate are payable in the coin or currency of the United States of America
as at the time of payment is legal tender for the payment of public and private
debts.

            Interest on this Certificate will accrue (computed as if each year
consisted of 360 days and each month consisted of 30 days) during the Interest
Accrual Period relating to such Distribution Date at the Pass-Through Rate on
the Notional Amount of this Certificate immediately prior to each Distribution
Date. Interest allocated to this Certificate on any Distribution Date will be in
an amount due to this Certificate's pro rata share of the amount to be
distributed on the Certificates of this Class as of such Distribution Date, with
a final distribution to be made upon retirement of this Certificate as set forth
in the Pooling and Servicing Agreement.

            Unless the certificate of authentication hereon has been executed by
the Authenticating Agent, by manual signature, this Certificate shall not be
entitled to any benefit under the Pooling and Servicing Agreement or be valid
for any purpose.

            Realized Losses, Expense Losses and interest shortfalls on the
Mortgage Loans shall be allocated on the applicable Distribution Date to
Certificateholders in the manner set forth in the Pooling and Servicing
Agreement. All Realized Losses, Expense Losses and interest shortfalls on the
Mortgage Loans allocated to any Class of Certificates will be allocated pro rata
among the outstanding Certificates of such Class.

            The Certificates are limited in right of payment to certain
collections and recoveries respecting the Mortgage Loans, all as more
specifically set forth in the Pooling and Servicing Agreement. As provided in
the Pooling and Servicing Agreement, withdrawals from the Certificate Account
shall be made from time to time for purposes other than distributions to
Certificateholders, such purposes including reimbursement of certain expenses
incurred with respect to the servicing of the Mortgage Loans and administration
of the Trust.

            All distributions under the Pooling and Servicing Agreement to a
nominee of The Depository Trust Company ("DTC") will be made by or on behalf of
the Paying Agent by wire transfer in immediately available funds to an account
specified in the request of such Certificateholder. All distributions under the
Pooling and Servicing Agreement to Certificateholders will be made by wire
transfer in immediately available funds to the account specified by the
Certificateholder, at a bank or other entity having appropriate facilities
therefor, if such Certificateholder will have provided the Paying Agent with
wiring instructions on or prior to the related Record Date or otherwise by check
mailed to such Certificateholder. Notwithstanding the above, the final
distribution on any Certificate will be made only upon presentation and
surrender of such Certificate at the location that will be specified in a notice
of the pendency of such final distribution.

            The Pooling and Servicing Agreement permits, with certain exceptions
therein provided, the amendment thereof and the modification of the rights and
obligations of the Certificateholders under the Pooling and Servicing Agreement
at any time by the parties thereto with the consent of the Holders of not less
than 51% of the Aggregate Certificate Balance of the Certificates then
outstanding, as specified in the Pooling and Servicing Agreement. Any such
consent by the Holder of this Certificate shall be conclusive and binding on
such Holder and upon all future Holders of this Certificate and of any
Certificate issued upon the transfer hereof or in exchange herefor or in lieu
hereof whether or not notation of such consent is made upon the Certificate. The
Pooling and Servicing Agreement also permits the amendment thereof, in certain
circumstances, without the consent of the Holders of any of the Certificates.

            As provided in the Pooling and Servicing Agreement and subject to
certain limitations therein set forth, the transfer of this Certificate is
registrable in the Certificate Register upon surrender of this Certificate for
registration of transfer at the Corporate Trust Office of the Certificate
Registrar, duly endorsed by, or accompanied by an assignment in the form below
or other written instrument of transfer in form satisfactory to the Certificate
Registrar duly executed by the Holder hereof or such Holder's attorney duly
authorized in writing, and thereupon one or more new Certificates of the same
Class in authorized denominations will be issued to the designated transferee or
transferees.

            Subject to the terms of the Pooling and Servicing Agreement, the
Class X-2 Certificates will be issued in denominations of $100,000 initial
Notional Amount and in any whole dollar denomination in excess thereof.

            As provided in the Pooling and Servicing Agreement and subject to
certain limitations therein set forth, Certificates are exchangeable for new
Certificates of the same Class in authorized denominations as requested by the
Holder surrendering the same. No service charge will be made for any such
registration of transfer or exchange but the Certificate Registrar may require
payment of a sum sufficient to cover any tax or other governmental charge that
may be imposed in connection with any transfer or exchange of Certificates.

            Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book entry facilities of DTC.

            The Depositor, the Trustee, the Fiscal Agent, the Paying Agent, the
Master Servicer, the Special Servicer and the Certificate Registrar and any of
their agents may treat the Person in whose name this Certificate is registered
as the owner hereof for all purposes, and neither the Depositor, the Trustee,
the Fiscal Agent, the Paying Agent, the Master Servicer, the Special Servicer,
the Certificate Registrar nor any such agents shall be affected by notice to the
contrary.

            The obligations and responsibilities of the Trustee and the Paying
Agent created hereby (other than the obligation of the Paying Agent to make
payments to the Certificateholders as set forth in Section 10.2 of the Pooling
and Servicing Agreement and other than the obligations in the nature of
information or tax reporting) shall terminate on the earliest of (i) the later
of (A) the final payment or other liquidation of the last Mortgage Loan
remaining in the Trust and (B) the disposition of all REO Property or (ii) the
sale of the property held by the Trust in accordance with Section 10.1(b) of the
Pooling and Servicing Agreement or (iii) the termination of the Trust pursuant
to Section 10.1(c) of the Pooling and Servicing Agreement; provided that in no
event shall the Trust continue beyond the expiration of 21 years from the death
of the last survivor of the descendants of Joseph P. Kennedy, the late
Ambassador of the United States to the Court of St. James, living on the date
hereof. The parties designated in the Pooling and Servicing Agreement may
exercise their option to purchase the Mortgage Loans and any other property
remaining in the Trust and cause the termination of the Trust in accordance with
the requirements set forth in the Pooling and Servicing Agreement. Upon
termination of the Trust and payment of the Certificates and of all
administrative expenses associated with the Trust, any remaining assets of the
Trust shall be distributed to the holders of the Residual Certificates.

            The Certificate Registrar has executed this Certificate under the
Pooling and Servicing Agreement.

            THIS CERTIFICATE AND THE POOLING AND SERVICING AGREEMENT SHALL BE
CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK
WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

<PAGE>

            IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed under this official seal.

                                        LASALLE BANK NATIONAL
                                           ASSOCIATION, as Certificate Registrar

                                        By:_____________________________________
                                                   AUTHORIZED SIGNATORY

Dated: June 27, 2002

                          CERTIFICATE OF AUTHENTICATION

            THIS IS ONE OF THE CLASS X-2 CERTIFICATES REFERRED TO IN THE
WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

                                        LASALLE BANK NATIONAL
                                           ASSOCIATION,
                                           AUTHENTICATING AGENT

                                        By:_____________________________________
                                                   AUTHORIZED SIGNATORY

<PAGE>

                                  ABBREVIATIONS

The following abbreviations, when used in the inscription on the face of this
Certificate, shall be construed as though they were written out in full
according to applicable laws or regulations:

TEN COM - as tenant in common            UNIF GIFT MIN ACT.............Custodian
                                                             (Cust)
TEN ENT - as tenants by the entireties
                                              Under Uniform Gifts to Minors
JT TEN  - as joint tenants with
          rights of survivorship and
          not as tenants in common                Act..................
                                                         (State)

     Additional abbreviations may also be used though not in the above list.

                                FORM OF TRANSFER

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto

________________________________________________________________________________

____________________________________            PLEASE INSERT SOCIAL SECURITY OR
                                                OTHER IDENTIFYING NUMBER OF
____________________________________            ASSIGNEE

________________________________________________________________________________
             Please print or typewrite name and address of assignee

________________________________________________________________________________
the within Certificate and does hereby or irrevocably constitute and appoint

________________________________________________________________________________
to transfer the said Certificate in the Certificate Register of the within-named
Trust, with full power of substitution in the premises.

Dated:_________________________     ____________________________________________
                                    NOTICE: The signature to this assignment
                                    must correspond with the name as written
                                    upon the face of this Certificate in every
                                    particular without alteration or enlargement
                                    or any change whatever.

________________________________________
SIGNATURE GUARANTEED
The signature must be guaranteed by a
commercial bank or trust company or by a
member firm of the New York Stock
Exchange or another national securities
exchange. Notarized or witnessed
signatures are not acceptable.

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

            The assignee should include the following for purposes of
distribution:

            Distributions shall be made, by wire transfer or otherwise, in
immediately available funds to _____________ for the account of ________________
account number ______________ or, if mailed by check, to ______________________.
Statements should be mailed to ____________________. This information is
provided by assignee named above, or ______________________, as its agent.

<PAGE>

                     [TO BE ATTACHED TO GLOBAL CERTIFICATES]

                  SCHEDULE OF EXCHANGES OF GLOBAL CERTIFICATES

The following exchanges of a part of this Global Certificate have been made:

<PAGE>

                                   EXHIBIT B-1

                    FORM OF INITIAL CERTIFICATION OF TRUSTEE

                                          June __, 2002

Morgan Stanley Dean Witter Capital I Inc.
1585 Broadway
New York, NY 10036

State Farm Life Insurance Company
One State Farm Plaza
Bloomington, Illinois 61710

Morgan Stanley Dean Witter Mortgage Capital Inc.
1585 Broadway
New York, New York 10036

Principal Silver, LLC
801 Grand Avenue
Des Moines, Iowa 50392

John Hancock Real Estate Finance, Inc.
200 Clarendon Street, 56th Floor
Boston, Massachusetts 02117

Teachers Insurance and Annuity Association of America
730 Third Avenue
New York, New York 10018

      Re:   Pooling and Servicing Agreement ("Pooling and Servicing Agreement")
            relating to Morgan Stanley Dean Witter Capital I Inc., Commercial
            Mortgage Pass-Through Certificates, Series 2002-IQ2

Ladies and Gentlemen:

            In accordance with the provisions of Section 2.2 of the Pooling and
Servicing Agreement, the undersigned hereby certifies that, with respect to each
Mortgage Loan listed in the Mortgage Loan Schedule and subject to the exceptions
noted in the schedule of exceptions attached hereto, that: (a) all documents
specified in clause (i) to the extent previously identified in writing to the
Trustee by each seller of the definition of "Mortgage File" are in its
possession, (b) such documents have been reviewed by it and have not been
materially mutilated, damaged, defaced, torn or otherwise physically altered,
and such document relates to such Mortgage Loan and (c) each Mortgage Note has
been endorsed as provided in clause (i) of the definition of "Mortgage File" of
the Pooling and Servicing Agreement. The Trustee makes no representations as to:
(i) the validity, legality, sufficiency, enforceability or genuineness of any
such documents contained in each Mortgage File or any of the Mortgage Loans
identified in the Mortgage Loan Schedule, (ii) the collectability, insurability,
effectiveness or suitability of any such Mortgage Loan or (iii) whether any such
documents contained in each Mortgage File are appropriate for their represented
purposes, or are other than what they purport to be on their face.

            The Trustee acknowledges receipt of notice that the Depositor has
granted to the Trustee for the benefit of the Certificateholders a security
interest in all of the Depositor's right, title and interest in and to the
Mortgage Loans, the REMIC I Regular Interests and the REMIC II Regular
Interests.

            Capitalized words and phrases used herein and not otherwise defined
herein shall have the respective meanings assigned to them in the Pooling and
Servicing Agreement. This Certificate is subject in all respects to the terms of
said Pooling and Servicing Agreement including but not limited to Section 2.2.

                                        LASALLE BANK NATIONAL
                                           ASSOCIATION, as Trustee

                                        By:_____________________________________
                                           Name:
                                           Title:

<PAGE>

                             SCHEDULE OF EXCEPTIONS

<PAGE>

                                   EXHIBIT B-2

                     FORM OF FINAL CERTIFICATION OF TRUSTEE

                                          __________, 2002

Morgan Stanley Dean Witter Capital I Inc.
1585 Broadway
New York, NY 10036

State Farm Life Insurance Company
One State Farm Plaza
Bloomington, Illinois 61710

Morgan Stanley Dean Witter Mortgage Capital Inc.
1585 Broadway
New York, New York 10036

Principal Silver, LLC
801 Grand Avenue
Des Moines, Iowa 50392

John Hancock Real Estate Finance, Inc.
200 Clarendon Street, 56th Floor
Boston, Massachusetts 02117

Teachers Insurance and Annuity Association of America
730 Third Avenue
New York, New York 10018

      Re:   Pooling and Servicing Agreement ("Pooling and Servicing Agreement")
            relating to Morgan Stanley Dean Witter Capital I Inc., Commercial
            Mortgage Pass-Through Certificates, Series 2002-IQ2

Ladies and Gentlemen:

            In accordance with the provisions of Section 2.2 of the Pooling and
Servicing Agreement, the undersigned hereby certifies that, with respect to each
Mortgage Loan listed in the Mortgage Loan Schedule and subject to the exceptions
noted in the schedule of exceptions attached hereto, that: (a) all documents
required to be included in the Mortgage File pursuant to clauses (i), (ii),
(iv), (vi) and (viii) of the definition of "Mortgage File," and any documents
required to be included in the Mortgage File pursuant to all other clauses of
the definition of "Mortgage File," to the extent known by a Responsible Officer
of the Trustee to be required pursuant to the Pooling and Servicing Agreement,
are in its possession, (b) such documents have been reviewed by it and have not
been materially mutilated, damaged, defaced, torn or otherwise physically
altered, and such documents relate to such Mortgage Loan, (c) based on its
examination and only as to the Mortgage Note and the Mortgage, the street
address of the Mortgaged Property and the name of the Mortgagor set forth in the
Mortgage Loan Schedule accurately reflects the information contained in the
documents in the Mortgage File, and (d) each Mortgage Note has been endorsed as
required by the terms of the Pooling and Servicing Agreement. The Trustee makes
no representations as to: (i) the validity, legality, sufficiency,
enforceability or genuineness of any of the documents contained in each Mortgage
File identified in the Mortgage Loan Schedule, (ii) the collectability,
insurability, effectiveness or suitability of any such Mortgage Loan or (iii)
whether any of the documents contained in each Mortgage File are appropriate for
their represented purposes, or are other than what they purport to be on their
face or are in recordable form.

            The Trustee acknowledges receipt of notice that the Depositor has
granted to the Trustee for the benefit of the Certificateholders a security
interest in all of the Depositor's right, title and interest in and to the
Mortgage Loans, the REMIC I Regular Interests and the REMIC II Regular
Interests.

            Capitalized words and phrases used herein shall have the respective
meanings assigned to them in the Pooling and Servicing Agreement. This
Certificate is qualified in all respects by the terms of said Pooling and
Servicing Agreement including but not limited to Section 2.2.

                                        LASALLE BANK NATIONAL
                                           ASSOCIATION, as Trustee

                                        By:_____________________________________
                                           Name:
                                           Title:

<PAGE>

                             SCHEDULE OF EXCEPTIONS

<PAGE>

                                    EXHIBIT C

                           FORM OF REQUEST FOR RELEASE

                                          [Date]

LaSalle Bank National Association
135 South LaSalle Street, Suite 1625
Chicago, Illinois 60603

            Re:   Morgan Stanley Dean Witter Capital I, Inc., Commercial
                  Mortgage Pass-Through Certificates, Series 2002-IQ2

            In connection with the administration of the Mortgage File held by
or on behalf of you as trustee under a certain Pooling and Servicing Agreement,
dated as of June 1, 2002 (the "Pooling and Servicing Agreement"), among Morgan
Stanley Dean Witter Capital I Inc., as depositor, ORIX Capital Markets, LLC, as
master servicer (the "Master Servicer"), Lend Lease Asset Management, L.P., as
special servicer (the "Special Servicer"), ABN AMRO Bank N.V., as fiscal agent
and you as trustee (in such capacity, the "Trustee"), the undersigned as
[Master][Special] Servicer hereby requests a release of the Mortgage File (or
the portion thereof specified below) held by or on behalf of you as Trustee with
respect to the following described Mortgage Loan for the reason indicated below.

Property Name:
Address:
Prospectus No.:

If only particular documents in the Mortgage File are requested, please specify
which:

Reason for requesting Mortgage File (or portion thereof):

______   1.       Mortgage Loan paid in full.

            (The [Master] [Special] Servicer hereby certifies that all amounts
received in connection with ______________ the Mortgage Loan have been or will
be, following the [Master] [Special] Servicer's release ______________ of the
Trustee Mortgage File, credited to the Certificate Account or the Distribution
Account ______________ pursuant to the Pooling and Servicing Agreement.)

______   2.       Mortgage Loan repurchased.

                  (The [Master] [Special] Servicer hereby certifies that the
                  Purchase Price has been credited to the Distribution Account
                  pursuant to the Pooling and Servicing Agreement.)

______   3.       Mortgage Loan Defeased.

______   4.       Mortgage Loan substituted.

                  (The [Master] [Special] Servicer hereby certifies that a
                  Qualifying Substitute Mortgage Loan has been assigned and
                  delivered to you along with the related Trustee Mortgage File
                  pursuant to the Pooling and Servicing Agreement.)

______   5.       The Mortgage Loan is being foreclosed.

______   6.       Other. (Describe)

            The undersigned acknowledges that the above Mortgage File (or
requested portion thereof) will be held by the undersigned in accordance with
the provisions of the Pooling and Servicing Agreement and will be returned to
you or your designee within ten days of our receipt thereof, unless the Mortgage
Loan is being foreclosed, in which case the Mortgage File (or such portion
thereof) will be returned when no longer required by us for such purpose.

            Capitalized terms used but not defined herein shall have the
meanings ascribed to them in the Pooling and Servicing Agreement.

                                        [Name of [Master] [Special] Servicer]

                                        By:_____________________________________
                                           Name:
                                           Title:

<PAGE>

                                   EXHIBIT D-1

                       FORM OF TRANSFEROR CERTIFICATE FOR
             TRANSFERS OF DEFINITIVE PRIVATELY OFFERED CERTIFICATES

                                          [Date]

LaSalle Bank National Association,
  as Certificate Registrar
135 South LaSalle Street, Suite 1625
Chicago, Illinois 60603

Attention:  Asset-Backed Securities Trust Services Group

      Re:   Morgan Stanley Dean Witter Capital I Inc., Commercial Mortgage
            Pass-Through Certificates, Series 2002-IQ2, Class __ (the
            "Certificates")

Dear Sirs:

            This letter is delivered to you in connection with the transfer by
_________________ (the "Transferor") to _________________ (the "Transferee") of
Class ___ Certificates [having an initial Certificate Balance or Notional Amount
as of June 27, 2002 (the "Closing Date") of $__________] [evidencing a ____%
Percentage Interest in the related Class] (the "Transferred Certificates"). The
Transferred Certificates were issued pursuant to the Pooling and Servicing
Agreement (the "Pooling and Servicing Agreement"), dated as of June 1, 2002,
among Morgan Stanley Dean Witter Capital I Inc., as depositor (the "Depositor"),
ORIX Capital Markets, LLC, as master servicer, Lend Lease Asset Management,
L.P., as special servicer, LaSalle Bank National Association, as trustee, paying
agent and certificate registrar and ABN AMRO Bank N.V., as fiscal agent. All
terms used herein and not otherwise defined shall have the meanings set forth in
the Pooling and Servicing Agreement. The Transferor hereby certifies, represents
and warrants to you, as Certificate Registrar, that:

            1. The Transferor is the lawful owner of the Transferred
      Certificates with the full right to transfer such Certificates free from
      any and all claims and encumbrances whatsoever.

            2. Neither the Transferor nor anyone acting on its behalf has (a)
      offered, transferred, pledged, sold or otherwise disposed of any
      Transferred Certificate, any interest in any Transferred Certificate or
      any other similar security to any person in any manner, (b) solicited any
      offer to buy or accept a transfer, pledge or other disposition of any
      Transferred Certificate, any interest in any Transferred Certificate or
      any other similar security from any person in any manner, (c) otherwise
      approached or negotiated with respect to any Transferred Certificate, any
      interest in any Transferred Certificate or any other similar security with
      any person in any manner, (d) made any general solicitation by means of
      general advertising or in any other manner, or (e) taken any other action,
      which (in the case of any of the acts described in clauses (a) through (e)
      hereof) would constitute a distribution of any Transferred Certificate
      under the Securities Act of 1933, as amended (the "Securities Act"), or
      would render the disposition of any Transferred Certificate a violation of
      Section 5 of the Securities Act or any state securities laws, or would
      require registration or qualification of any Transferred Certificate
      pursuant to the Securities Act or any state securities laws.

                                        Very truly yours,

                                        ________________________________________
                                        (Transferor)

                                        By:_____________________________________
                                           Name: _______________________________
                                           Title: ______________________________

<PAGE>

                                  EXHIBIT D-2A

                        FORM I OF TRANSFEREE CERTIFICATE
                           FOR TRANSFERS OF DEFINITIVE
                         PRIVATELY OFFERED CERTIFICATES

                                          [Date]

LaSalle Bank National Association,
  as Certificate Registrar
135 South LaSalle Street, Suite 1625
Chicago, Illinois 60603

Attention:  Asset-Backed Securities Trust Services Group

      Re:   Morgan Stanley Dean Witter Capital I Inc., Commercial Mortgage
            Pass-Through Certificates, Series 2002-IQ2 (the "Certificates")

Ladies and Gentlemen:

            This letter is delivered to you in connection with the transfer by
_________________ (the "Transferor") to _________________ (the "Transferee") of
Class ______ Certificates [having an initial Certificate Principal Balance or
Notional Amount as of June 27, 2002 (the "Closing Date") of [$__________]
[evidencing a ____% Percentage Interest in the related Class] (the "Transferred
Certificates"). The Certificates, including the Transferred Certificates, were
issued pursuant to the Pooling and Servicing Agreement, dated as of June 1, 2002
(the "Pooling and Servicing Agreement"), among Morgan Stanley Dean Witter
Capital I Inc., as depositor (the "Depositor"), ORIX Capital Markets, LLC, as
master servicer, Lend Lease Asset Management, L.P., as special servicer, LaSalle
Bank National Association, as trustee, paying agent and certificate registrar
and ABN AMRO Bank N.V., as fiscal agent. All capitalized terms used but not
otherwise defined herein shall have the respective meanings set forth in the
Pooling and Servicing Agreement. The Transferee hereby certifies, represents and
warrants to you, as Certificate Registrar, that:

            1. The Transferee is a "qualified institutional buyer" (a "Qualified
      Institutional Buyer") as that term is defined in Rule 144A ("Rule 144A")
      under the Securities Act of 1933, as amended (the "Securities Act"), and
      has completed one of the forms of certification to that effect attached
      hereto as Annex 1 and Annex 2. The Transferee is aware that the sale to it
      of the Transferred Certificates is being made in reliance on Rule 144A.
      The Transferee is acquiring the Transferred Certificates for its own
      account or for the account of a Qualified Institutional Buyer, and
      understands that such Transferred Certificates may be resold, pledged or
      transferred only (i) to a person reasonably believed to be a Qualified
      Institutional Buyer that purchases for its own account or for the account
      of a Qualified Institutional Buyer to whom notice is given that the
      resale, pledge or transfer is being made in reliance on Rule 144A, or (ii)
      pursuant to another exemption from registration under the Securities Act.

            2. The Transferee has been furnished with all information regarding
      (a) the Depositor, (b) the Transferred Certificates and distributions
      thereon, (c) the nature, performance and servicing of the Mortgage Loans,
      (d) the Pooling and Servicing Agreement, (e) any credit enhancement
      mechanism associated with the Transferred Certificates and (f) all related
      matters that it has requested.

                                        Very truly yours,

                                        ________________________________________
                                        (Transferee)

                                        By:_____________________________________
                                           Name: _______________________________
                                           Title: ______________________________

<PAGE>

                             ANNEX 1 TO EXHIBIT D-2A

            QUALIFIED INSTITUTIONAL BUYER STATUS UNDER SEC RULE 144A

          [For Transferees Other Than Registered Investment Companies]

            The undersigned hereby certifies as follows to [name of Transferor]
(the "Transferor") and [name of Certificate Registrar], as Certificate
Registrar, with respect to the commercial mortgage pass-through certificate
being transferred (the "Transferred Certificate") as described in the Transferee
Certificate to which this certification relates and to which this certification
is an Annex:

            1. As indicated below, the undersigned is the chief financial
      officer, a person fulfilling an equivalent function, or other executive
      officer of the entity purchasing the Transferred Certificate (the
      "Transferee").

            2. The Transferee is a "qualified institutional buyer" as that term
      is defined in Rule 144A under the Securities Act of 1933, as amended
      ("Rule 144A"), because (i) the Transferee owned and/or invested on a
      discretionary basis $____________________ in securities (other than the
      excluded securities referred to below) as of the end of the Transferee's
      most recent fiscal year (such amount being calculated in accordance with
      Rule 144A) and (ii) the Transferee satisfies the criteria in the category
      marked below.

            ___   Corporation, etc. The Transferee is a corporation (other than
                  a bank, savings and loan association or similar institution),
                  Massachusetts or similar business trust, partnership, or any
                  organization described in Section 501(c)(3) of the Internal
                  Revenue Code of 1986, as amended.

            ___   Bank. The Transferee (a) is a national bank or a banking
                  institution organized under the laws of any State, U.S.
                  territory or the District of Columbia, the business of which
                  is substantially confined to banking and is supervised by the
                  State or territorial banking commission or similar official or
                  is a foreign bank or equivalent institution, and (b) has an
                  audited net worth of at least $25,000,000 as demonstrated in
                  its latest annual financial statements, a copy of which is
                  attached hereto, as of a date not more than 16 months
                  preceding the date of sale of the Certificate in the case of a
                  U.S. bank, and not more than 18 months preceding such date of
                  sale for a foreign bank or equivalent institution.

            ___   Savings and Loan. The Transferee (a) is a savings and loan
                  association, building and loan association, cooperative bank,
                  homestead association or similar institution, which is
                  supervised and examined by a State or Federal authority having
                  supervision over any such institutions or is a foreign savings
                  and loan association or equivalent institution and (b) has an
                  audited net worth of at least $25,000,000 as demonstrated in
                  its latest annual financial statements, a copy of which is
                  attached hereto, as of a date not more than 16 months
                  preceding the date of sale of the Certificate in the case of a
                  U.S. savings and loan association, and not more than 18 months
                  preceding such date of sale for a foreign savings and loan
                  association or equivalent institution.

            ___   Broker-dealer. The Transferee is a dealer registered pursuant
                  to Section 15 of the Securities Exchange Act of 1934, as
                  amended.

            ___   Insurance Company. The Transferee is an insurance company
                  whose primary and predominant business activity is the writing
                  of insurance or the reinsuring of risks underwritten by
                  insurance companies and which is subject to supervision by the
                  insurance commissioner or a similar official or agency of a
                  State, U.S. territory or the District of Columbia.

            ___   State or Local Plan. The Transferee is a plan established and
                  maintained by a State, its political subdivisions, or any
                  agency or instrumentality of the State or its political
                  subdivisions, for the benefit of its employees.

            ___   ERISA Plan. The Transferee is an employee benefit plan within
                  the meaning of Title I of the Employee Retirement income
                  Security Act of 1974, as amended.

            ___   Investment Advisor. The Transferee is an investment advisor
                  registered under the Investment Advisers Act of 1940, as
                  amended.

            ___   Other. (Please supply a brief description of the entity and a
                  cross-reference to the paragraph and subparagraph under
                  subsection (a)(1) of Rule 144A pursuant to which it qualifies.
                  Note that registered investment companies should complete
                  Annex 2 rather than this Annex 1.)

                  ___________________________________________

                  ___________________________________________

                  ___________________________________________

            3. The term "securities" as used herein does not include (i)
      securities of issuers that are affiliated with the Transferee, (ii)
      securities that are part of an unsold allotment to or subscription by the
      Transferee, if the Transferee is a dealer, (iii) bank deposit notes and
      certificates of deposit, (iv) loan participations, (v) repurchase
      agreements, (vi) securities owned but subject to a repurchase agreement
      and (vii) currency, interest rate and commodity swaps. For purposes of
      determining the aggregate amount of securities owned and/or invested on a
      discretionary basis by the Transferee, the Transferee did not include any
      of the securities referred to in this paragraph.

            4. For purposes of determining the aggregate amount of securities
      owned and/or invested on a discretionary basis by the Transferee, the
      Transferee used the cost of such securities to the Transferee, unless the
      Transferee reports its securities holdings in its financial statements on
      the basis of their market value, and no current information with respect
      to the cost of those securities has been published, in which case the
      securities were valued at market. Further, in determining such aggregate
      amount, the Transferee may have included securities owned by subsidiaries
      of the Transferee, but only if such subsidiaries are consolidated with the
      Transferee in its financial statements prepared in accordance with
      generally accepted accounting principles and if the investments of such
      subsidiaries are managed under the Transferee's direction. However, such
      securities were not included if the Transferee is a majority-owned,
      consolidated subsidiary of another enterprise and the Transferee is not
      itself a reporting company under the Securities Exchange Act of 1934, as
      amended.

            5. The Transferee acknowledges that it is familiar with Rule 144A
      and understands that the Transferor and other parties related to the
      Transferred Certificate are relying and will continue to rely on the
      statements made herein because one or more sales to the Transferee may be
      in reliance on Rule 144A.

      ___   ___   Will the Transferee be purchasing the Transferred Certificate
      Yes   No    only for the Transferee's own account?

            6. If the answer to the foregoing question is "no", then in each
      case where the Transferee is purchasing for an account other than its own,
      such account belongs to a third party that is itself a "qualified
      institutional buyer" within the meaning of Rule 144A, and the "qualified
      institutional buyer" status of such third party has been established by
      the Transferee through one or more of the appropriate methods contemplated
      by Rule 144A.

            7. The Transferee will notify each of the parties to which this
      certification is made of any changes in the information and conclusions
      herein. Until such notice is given, the Transferee's purchase of the
      Transferred Certificate will constitute a reaffirmation of this
      certification as of the date of such purchase. In addition, if the
      Transferee is a bank or savings and loan as provided above, the Transferee
      agrees that it will furnish to such parties any updated annual financial
      statements that become available on or before the date of such purchase,
      promptly after they become available.

                                        ________________________________________
                                        Print Name of Transferee

                                        By:_____________________________________
                                           Name:________________________________
                                           Title:_______________________________
                                           Date:________________________________

<PAGE>

                             ANNEX 2 TO EXHIBIT D-2A

            QUALIFIED INSTITUTIONAL BUYER STATUS UNDER SEC RULE 144A

           [FOR TRANSFEREES THAT ARE REGISTERED INVESTMENT COMPANIES]

            The undersigned hereby certifies as follows to [name of Transferor]
(the "Transferor") and [name of Certificate Registrar], as Certificate
Registrar, with respect to the mortgage pass-through certificate being
transferred (the "Transferred Certificates") as described in the Transferee
Certificate to which this certification relates and to which this certification
is an Annex:

            1. As indicated below, the undersigned is the chief financial
      officer, a person fulfilling an equivalent function, or other executive
      officer of the entity purchasing the Transferred Certificates (the
      "Transferee") or, if the Transferee is a "qualified institutional buyer"
      as that term is defined in Rule 144A under the Securities Act of 1933, as
      amended ("Rule 144A") because the Transferee is part of a Family of
      Investment Companies (as defined below), is an executive officer of the
      investment adviser (the "Adviser").

            2. The Transferee is a "qualified institutional buyer" as defined in
      Rule 144A because (i) the Transferee is an investment company registered
      under the Investment Company Act of 1940, as amended, and (ii) as marked
      below, the Transferee alone owned and/or invested on a discretionary
      basis, or the Transferee's Family of Investment Companies owned, at least
      $100,000,000 in securities (other than the excluded securities referred to
      below) as of the end of the Transferee's most recent fiscal year. For
      purposes of determining the amount of securities owned by the Transferee
      or the Transferee's Family of Investment Companies, the cost of such
      securities was used, unless the Transferee or any member of the
      Transferee's Family of Investment Companies, as the case may be, reports
      its securities holdings in its financial statements on the basis of their
      market value, and no current information with respect to the cost of those
      securities has been published, in which case the securities of such entity
      were valued at market.

            ____  The Transferee owned and/or invested on a discretionary basis
                  $___________________ in securities (other than the excluded
                  securities referred to below) as of the end of the
                  Transferee's most recent fiscal year (such amount being
                  calculated in accordance with Rule 144A).

            ____  The Transferee is part of a Family of Investment Companies
                  which owned in the aggregate $______________ in securities
                  (other than the excluded securities referred to below) as of
                  the end of the Transferee's most recent fiscal year (such
                  amount being calculated in accordance with Rule 144A).

            3. The term "Family of Investment Companies" as used herein means
      two or more registered investment companies (or series thereof) that have
      the same investment adviser or investment advisers that are affiliated (by
      virtue of being majority owned subsidiaries of the same parent or because
      one investment adviser is a majority owned subsidiary of the other).

            4. The term "securities" as used herein does not include (i)
      securities of issuers that are affiliated with the Transferee or are part
      of the Transferee's Family of Investment Companies, (ii) bank deposit
      notes and certificates of deposit, (iii) loan participations, (iv)
      repurchase agreements, (v) securities owned but subject to a repurchase
      agreement and (vi) currency, interest rate and commodity swaps. For
      purposes of determining the aggregate amount of securities owned and/or
      invested on a discretionary basis by the Transferee, or owned by the
      Transferee's Family of Investment Companies, the securities referred to in
      this paragraph were excluded.

            5. The Transferee is familiar with Rule 144A and understands that
      the parties to which this certification is being made are relying and will
      continue to rely on the statements made herein because one or more sales
      to the Transferee will be in reliance on Rule 144A.

      ___   ___   Will the Transferee be purchasing the Transferred Certificates
      Yes   No    only for the Transferee's own account?

            6. If the answer to the foregoing question is "no", then in each
      case where the Transferee is purchasing for an account other than its own,
      such account belongs to a third party that is itself a "qualified
      institutional buyer" within the meaning of Rule 144A, and the "qualified
      institutional buyer" status of such third party has been established by
      the Transferee through one or more of the appropriate methods contemplated
      by Rule 144A.

            7. The undersigned will notify the parties to which this
      certification is made of any changes in the information and conclusions
      herein. Until such notice, the Transferee's purchase of the Transferred
      Certificates will constitute a reaffirmation of this certification by the
      undersigned as of the date of such purchase.

                                        ________________________________________
                                        Print Name of Transferee or Adviser

                                        By:_____________________________________
                                           Name:
                                           Title:

                                       IF AN ADVISER:

                                        ________________________________________
                                        Print Name of Transferee

                                        Date:___________________________________

<PAGE>

                                  EXHIBIT D-2B

                        FORM II OF TRANSFEREE CERTIFICATE
                           FOR TRANSFERS OF DEFINITIVE
                         PRIVATELY OFFERED CERTIFICATES

                                          [Date]

LaSalle Bank National Association,
  as Certificate Registrar
135 South LaSalle Street, Suite 1625
Chicago, Illinois 60603

Attention:  Asset-Backed Securities Trust Services Group

      Re:   Morgan Stanley Dean Witter Capital I Inc., Commercial Mortgage
            Pass-Through Certificates, Series 2002-IQ2 (the "Certificates")

Ladies and Gentlemen:

            This letter is delivered to you in connection with the transfer by
_____________________ (the "Transferor") to ________________________ (the
"Transferee") of Class ___ Certificates [having an initial Certificate Principal
Balance as of June 27, 2002 (the "Closing Date") of $__________][evidencing a
____% Percentage Interest in the related Class] (the "Transferred
Certificates"). The Certificates, including the Transferred Certificates, were
issued pursuant to the Pooling and Servicing Agreement, dated as of June 1, 2002
(the "Pooling and Servicing Agreement"), among Morgan Stanley Dean Witter
Capital I Inc., as depositor (the "Depositor"), ORIX Capital Markets, LLC, as
master servicer, Lend Lease Asset Management, L.P., as special servicer, LaSalle
Bank National Association, as trustee, paying agent and certificate registrar
and ABN AMRO Bank N.V., as fiscal agent. All capitalized terms used but not
otherwise defined herein shall have the respective meanings set forth in the
Pooling and Servicing Agreement. The Transferee hereby certifies, represents and
warrants to you, as Certificate Registrar, that:

            1. The Transferee is acquiring the Transferred Certificates for its
      own account for investment and not with a view to or for sale or transfer
      in connection with any distribution thereof, in whole or in part, in any
      manner which would violate the Securities Act of 1933, as amended (the
      "Securities Act"), or any applicable state securities laws.

            2. The Transferee understands that (a) the Class of Certificates to
      which the Transferred Certificates belong has not been and will not be
      registered under the Securities Act or registered or qualified under any
      applicable state securities laws, (b) none of the Depositor, the Trustee
      or the Certificate Registrar is obligated so to register or qualify the
      Class of Certificates to which the Transferred Certificates belong, and
      (c) no Transferred Certificate may be resold or transferred unless it is
      (i) registered pursuant to the Securities Act and registered or qualified
      pursuant any applicable state securities laws or (ii) sold or transferred
      in transactions which are exempt from such registration and qualification
      and the Certificate Registrar has received either: (A) a certificate from
      the Certificateholder desiring to effect such transfer substantially in
      the form attached as Exhibit D-1 to the Pooling and Servicing Agreement
      and a certificate from such Certificateholder's prospective transferee
      substantially in the form attached either as Exhibit D-2A or as Exhibit
      D-2B to the Pooling and Servicing Agreement; or (B) an opinion of counsel
      satisfactory to the Certificate Registrar with respect to the availability
      of such exemption from registration under the Securities Act, together
      with copies of the written certification(s) from the transferor and/or
      transferee setting forth the facts surrounding the transfer upon which
      such opinion is based.

            3. The Transferee understands that it may not sell or otherwise
      transfer any Transferred Certificate except in compliance with the
      provisions of Section 3.3 of the Pooling and Servicing Agreement, which
      provisions it has carefully reviewed.

            4. Transferee understands that each Transferred Certificate will
      bear the following legends:

            THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE
            SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT") OR THE
            SECURITIES LAWS OF ANY STATE. ANY RESALE, TRANSFER OR OTHER
            DISPOSITION OF THIS CERTIFICATE OR ANY INTEREST HEREIN WITHOUT SUCH
            REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION
            WHICH DOES NOT REQUIRE SUCH REGISTRATION OR QUALIFICATION AND WHICH
            IS IN ACCORDANCE WITH THE PROVISIONS OF SECTION 3.3 OF THE POOLING
            AND SERVICING AGREEMENT REFERRED TO HEREIN.

            NO TRANSFER OF THIS CERTIFICATE TO AN EMPLOYEE BENEFIT PLAN OR OTHER
            RETIREMENT ARRANGEMENT THAT IS SUBJECT TO THE EMPLOYEE RETIREMENT
            INCOME SECURITY ACT OF 1974, AS AMENDED ("ERISA"), OR THE INTERNAL
            REVENUE CODE OF 1986, AS AMENDED (THE "CODE"), OR TO ANY PERSON WHO
            IS DIRECTLY OR INDIRECTLY PURCHASING THIS CERTIFICATE ON BEHALF OF,
            AS NAMED FIDUCIARY OF, AS TRUSTEE OF, OR WITH ASSETS OF ANY SUCH
            EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT ARRANGEMENT, WILL BE
            REGISTERED EXCEPT IN COMPLIANCE WITH THE PROCEDURES DESCRIBED IN
            SECTION 3.3 OF THE POOLING AND SERVICING AGREEMENT REFERRED TO
            HEREIN.

            5. Neither the Transferee nor anyone acting on its behalf has (a)
      offered, pledged, sold, disposed of or otherwise transferred any
      Transferred Certificate, any interest in any Transferred Certificate or
      any other similar security to any person in any manner, (b) solicited any
      offer to buy or accept a pledge, disposition or other transfer of any
      Transferred Certificate, any interest in any Transferred Certificate or
      any other similar security from any person in any manner, (c) otherwise
      approached or negotiated with respect to any Transferred Certificate, any
      interest in any Certificate or any other similar security with any person
      in any manner, (d) made any general solicitation by means of general
      advertising or in any other manner, or (e) taken any other action with
      respect to any Transferred Certificate, any interest in any Transferred
      Certificate or any other similar security, which (in the case of any of
      the acts described in clauses (a) through (e) above) would constitute a
      distribution of the Transferred Certificates under the Securities Act,
      would render the disposition of the Transferred Certificates a violation
      of Section 5 of the Securities Act or any state securities law or would
      require registration or qualification of the Transferred Certificates
      pursuant thereto. The Transferee will not act, nor has it authorized or
      will it authorize any Person to act, in any manner set forth in the
      foregoing sentence with respect to any Transferred Certificate, any
      interest in any Transferred Certificate or any other similar security.

            6. The Transferee acknowledges that it is familiar with Rule 144A
      and understands that the Transferor and other parties related to the
      Transferred Certificate are relying and will continue to rely on the
      statements made herein because one or more sales to the Transferee may be
      in reliance on Rule 144A.

            7. The Transferee is an "accredited investor" as defined in any of
      paragraphs (1), (2), (3) and (7) of Rule 501(a) under the Securities Act
      or an entity in which all of the equity owners come within such
      paragraphs. The Transferee has such knowledge and experience in financial
      and business matters as to be capable of evaluating the merits and risks
      of an investment in the Transferred Certificate; the Transferee has sought
      such accounting, legal and tax advice as it has considered necessary to
      make an informed investment decision; and the Transferee is able to bear
      the economic risks of such investment and can afford a complete loss of
      such investment.

                                       Very truly yours,

                                        ________________________________________
                                        (Transferee)

                                        By:_____________________________________
                                           Name: _______________________________
                                           Title: ______________________________

<PAGE>

                                  EXHIBIT D-3A

                        FORM I OF TRANSFEREE CERTIFICATE
                          FOR TRANSFERS OF INTERESTS IN
                    BOOK-ENTRY PRIVATELY OFFERED CERTIFICATES

                                          [Date]

[TRANSFEROR]

      Re:   Morgan Stanley Dean Witter Capital I Inc., Commercial Mortgage
            Pass-Through Certificates, Series 2002-IQ2, Class __ (the
            "Certificates")

Dear Sirs:

            This letter is delivered to you in connection with the transfer by
_____________________ (the "Transferor") to ______________________ (the
"Transferee") of a Certificate (the "Transferred Certificate") having an initial
principal balance or notional amount as of June 27, 2002 (the "Closing Date") of
$__________. The Certificates were issued pursuant to the Pooling and Servicing
Agreement (the "Pooling and Servicing Agreement"), dated as of June 1, 2002,
among Morgan Stanley Dean Witter Capital I Inc., as depositor (the "Depositor"),
ORIX Capital Markets, LLC, as master servicer, Lend Lease Asset Management,
L.P., as special servicer, LaSalle Bank National Association, as trustee, paying
agent and certificate registrar and ABN AMRO Bank N.V., as fiscal agent. All
terms used herein and not otherwise defined shall have the meanings set forth in
the Pooling and Servicing Agreement. The Transferee hereby certifies, represents
and warrants to you, and for the benefit of the Depositor, the Certificate
Registrar and the Trustee, that:

            1. The Transferee is acquiring the Transferred Certificate for its
      own account for investment and not with a view to or for sale or transfer
      in connection with any distribution thereof, in whole or in part, in any
      manner which would violate the Securities Act of 1933, as amended (the
      "Securities Act"), or any applicable state securities laws.

            2. The Transferee understands that (a) the Certificates have not
      been and will not be registered under the Securities Act or registered or
      qualified under any applicable state securities laws, (b) none of the
      Depositor, the Trustee or the Certificate Registrar is obligated so to
      register or qualify the Certificates and (c) no interest in the
      Certificates may be sold or transferred unless it is (i) registered
      pursuant to the Securities Act and registered or qualified pursuant to any
      applicable state securities laws or (ii) sold or transferred in
      transactions which are exempt from such registration and qualification and
      the Certificate Owner desiring to effect such transfer has received either
      (A) a certification from such Certificate Owner's prospective transferee
      (substantially in the form attached to the Pooling and Servicing
      Agreement) setting forth the facts surrounding the transfer or (B) an
      opinion of counsel with respect to the availability of such exemption,
      together with copies of the certification(s) from the transferor and/or
      transferee setting forth the facts surrounding the transfer upon which
      such opinion is based.

            3. The Transferee understands that it may not sell or otherwise
      transfer any portion of its interest in the Transferred Certificate except
      in compliance with the provisions of Section 3.3 of the Pooling and
      Servicing Agreement, which provisions it has carefully reviewed.

            4. Transferee understands that the Transferred Certificate will bear
      legends substantially to the following effect:

            THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED OR
            QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
            "SECURITIES ACT"), OR THE SECURITIES LAWS OF ANY STATE. ANY RESALE,
            TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE OR ANY INTEREST
            THEREIN WITHOUT SUCH REGISTRATION OR QUALIFICATION MAY BE MADE ONLY
            IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH REGISTRATION OR
            QUALIFICATION AND WHICH IS IN ACCORDANCE WITH THE PROVISIONS OF
            SECTION 3.3 OF THE POOLING AND SERVICING AGREEMENT REFERRED TO
            HEREIN.

            NO TRANSFER OF THIS CERTIFICATE TO AN EMPLOYEE BENEFIT PLAN OR OTHER
            RETIREMENT ARRANGEMENT THAT IS SUBJECT TO THE EMPLOYEE RETIREMENT
            INCOME SECURITY ACT OF 1974, AS AMENDED ("ERISA"), OR SECTION 4975
            OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE"), OR TO
            ANY PERSON WHO IS DIRECTLY OR INDIRECTLY PURCHASING THIS CERTIFICATE
            ON BEHALF OF, AS NAMED FIDUCIARY OF, AS TRUSTEE OF, OR WITH ASSETS
            OF ANY SUCH EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT ARRANGEMENT,
            WILL BE REGISTERED EXCEPT IN COMPLIANCE WITH THE PROCEDURES
            DESCRIBED IN SECTION 3.3 OF THE POOLING AND SERVICING AGREEMENT
            REFERRED TO HEREIN.

            5. Neither the Transferee nor anyone acting on its behalf has (a)
      offered, pledged, sold, disposed of or otherwise transferred any
      Certificate, any interest in any Certificate or any other similar security
      to any person in any manner, (b) solicited any offer to buy or accept a
      pledge, disposition or other transfer of any Certificate, any interest in
      any Certificate or any other similar security from any person in any
      manner, (c) otherwise approached or negotiated with respect to any
      Certificate, any interest in any Certificate or any other similar security
      with any person in any manner, (d) made any general solicitation by means
      of general advertising or in any other manner, or (e) taken any other
      action, that (in the case of any of the acts described in clauses (a)
      through (e) above) would constitute a distribution of any Certificate
      under the Securities Act, would render the disposition of any Certificate
      a violation of Section 5 of the Securities Act or any state securities law
      or would require registration or qualification of any Certificate pursuant
      thereto. The Transferee will not act, nor has it authorized or will it
      authorize any person to act, in any manner set forth in the foregoing
      sentence with respect to any Certificate, any interest in any Certificate
      or any similar security.

            6. The Transferee acknowledges that it is familiar with Rule 144A
      and understands that the Transferor and other parties related to the
      Transferred Certificate are relying and will continue to rely on the
      statements made herein because one or more sales to the Transferee may be
      in reliance on Rule 144A.

            7. The Transferee is an institutional "accredited investor" as
      defined in Rule 501(a) (1), (2), (3) or (7) under the Securities Act and
      has such knowledge and experience in financial and business matters as to
      be capable of evaluating the merits and risks of an investment in the
      Certificates; the Transferee has sought such accounting, legal and tax
      advice as it has considered necessary to make an informed investment
      decision; and the Transferee is able to bear the economic risks of such an
      investment and can afford a complete loss of such investment.

                                       Very truly yours,

                                        ________________________________________
                                        (Transferee)

                                        By:_____________________________________
                                           Name: _______________________________
                                           Title: ______________________________

<PAGE>

                                  EXHIBIT D-3B

                        FORM II OF TRANSFEREE CERTIFICATE
                          FOR TRANSFERS OF INTERESTS IN
                    BOOK-ENTRY PRIVATELY OFFERED CERTIFICATES

                                          [Date]

[TRANSFEROR]

      Re:   Morgan Stanley Dean Witter Capital I Inc., Commercial Mortgage
            Pass-Through Certificates, Series 2002-IQ2, Class __ (the
            "Certificates")

Dear Sirs:

            This letter is delivered to you in connection with the transfer by
_____________________ (the "Transferor") to ______________________ (the
"Transferee") of a Certificate (the "Transferred Certificate") having an initial
principal balance or notional amount as of June 27, 2002 (the "Closing Date") of
$__________. The Certificates were issued pursuant to the Pooling and Servicing
Agreement (the "Pooling and Servicing Agreement"), dated as of June 1, 2002,
among Morgan Stanley Dean Witter Capital I Inc., as depositor (the "Depositor"),
ORIX Capital Markets, LLC, as master servicer, Lend Lease Asset Management,
L.P., as special servicer, LaSalle Bank National Association, as trustee, paying
agent and certificate registrar and ABN AMRO Bank N.V., as fiscal agent. All
terms used herein and not otherwise defined shall have the meanings set forth in
the Pooling and Servicing Agreement. The Transferee hereby certifies, represents
and warrants to you, and for the benefit of the Depositor, the Certificate
Registrar and the Trustee, that:

            1. The Transferee is a "qualified institutional buyer" as that term
      is defined in Rule 144A ("Rule 144A") under the Securities Act of 1933, as
      amended (the "Securities Act"), and has completed one of the forms of
      certification to that effect attached hereto as Annex 1 and Annex 2. The
      Transferee is aware that the sale to it is being made in reliance on Rule
      144A. The Transferee is acquiring the Transferred Certificate for its own
      account or for the account of a qualified institutional buyer, and
      understands that such Certificate or any interest therein may be resold,
      pledged or transferred only (i) to a person reasonably believed to be a
      qualified institutional buyer that purchases for its own account or for
      the account of a qualified institutional buyer to whom notice is given
      that the resale, pledge or transfer is being made in reliance on Rule
      144A, or (ii) pursuant to another exemption from registration under the
      Securities Act.

            2. The Transferee understands that (a) the Class of Certificates to
      which the Transferred Certificate belongs have not been and will not be
      registered under the Securities Act or registered or qualified under any
      applicable state securities laws, (b) none of the Depositor, the Trustee
      or the Certificate Registrar is obligated so to register or qualify the
      Certificates and (c) no interest in the Certificates may be sold or
      transferred unless it is (i) registered pursuant to the Securities Act and
      registered or qualified pursuant to any applicable state securities laws
      or (ii) sold or transferred in transactions which are exempt from such
      registration and qualification and the Certificate Owner desiring to
      effect such transfer has received either (A) a certification from such
      Certificate Owner's prospective transferee (substantially in the form
      attached to the Pooling and Servicing Agreement) setting forth the facts
      surrounding the transfer or (B) an opinion of counsel with respect to the
      availability of such exemption, together with copies of the
      certification(s) from the transferor and/or transferee setting forth the
      facts surrounding the transfer upon which such opinion is based.

            3. The Transferee understands that it may not sell or otherwise
      transfer any portion of its interest in the Transferred Certificate except
      in compliance with the provisions of Section 3.3 of the Pooling and
      Servicing Agreement, which provisions it has carefully reviewed.

            4. Transferee understands that the Transferred Certificate will bear
      legends substantially to the following effect:

            THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED OR
            QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
            "SECURITIES ACT"), OR THE SECURITIES LAWS OF ANY STATE. ANY RESALE,
            TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE OR ANY INTEREST
            THEREIN WITHOUT SUCH REGISTRATION OR QUALIFICATION MAY BE MADE ONLY
            IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH REGISTRATION OR
            QUALIFICATION AND WHICH IS IN ACCORDANCE WITH THE PROVISIONS OF
            SECTION 3.3 OF THE POOLING AND SERVICING AGREEMENT REFERRED TO
            HEREIN.

            NO TRANSFER OF THIS CERTIFICATE TO AN EMPLOYEE BENEFIT PLAN OR OTHER
            RETIREMENT ARRANGEMENT THAT IS SUBJECT TO THE EMPLOYEE RETIREMENT
            INCOME SECURITY ACT OF 1974, AS AMENDED ("ERISA"), OR SECTION 4975
            OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE"), OR TO
            ANY PERSON WHO IS DIRECTLY OR INDIRECTLY PURCHASING THIS CERTIFICATE
            ON BEHALF OF, AS NAMED FIDUCIARY OF, AS TRUSTEE OF, OR WITH ASSETS
            OF ANY SUCH EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT ARRANGEMENT,
            WILL BE REGISTERED EXCEPT IN COMPLIANCE WITH THE PROCEDURES
            DESCRIBED IN SECTION 3.3 OF THE POOLING AND SERVICING AGREEMENT
            REFERRED TO HEREIN.

            5. The Transferee acknowledges that it is familiar with Rule 144A
      and understands that the Transferor and other parties related to the
      Transferred Certificate are relying and will continue to rely on the
      statements made herein because one or more sales to the Transferee may be
      in reliance on Rule 144A.

                                       Very truly yours,

                                        ________________________________________
                                        (Transferee)

                                        By:_____________________________________
                                           Name: _______________________________
                                           Title: ______________________________

<PAGE>

                             ANNEX 1 TO EXHIBIT D-3B

            QUALIFIED INSTITUTIONAL BUYER STATUS UNDER SEC RULE 144A

          [For Transferees Other Than Registered Investment Companies]

            The undersigned hereby certifies as follows to [name of Transferor]
(the "Transferor"), and [name of Certificate Registrar] as Certificate
Registrar, with respect to the commercial mortgage pass-through certificate
being transferred (the "Transferred Certificate") as described in the Transferee
Certificate to which this certification relates and to which this certification
is an Annex:

            1. As indicated below, the undersigned is the chief financial
      officer, a person fulfilling an equivalent function, or other executive
      officer of the entity purchasing the Transferred Certificate (the
      "Transferee").

            2. The Transferee is a "qualified institutional buyer" as that term
      is defined in Rule 144A under the Securities Act of 1933, as amended
      ("Rule 144A"), because (i) the Transferee owned and/or invested on a
      discretionary basis $____________________ in securities (other than the
      excluded securities referred to below) as of the end of the Transferee's
      most recent fiscal year (such amount being calculated in accordance with
      Rule 144A) and (ii) the Transferee satisfies the criteria in the category
      marked below.

            ___   Corporation, etc. The Transferee is a corporation (other than
                  a bank, savings and loan association or similar institution),
                  Massachusetts or similar business trust, partnership, or any
                  organization described in Section 501(c)(3) of the Internal
                  Revenue Code of 1986, as amended.

            ___   Bank. The Transferee (a) is a national bank or a banking
                  institution organized under the laws of any State, U.S.
                  territory or the District of Columbia, the business of which
                  is substantially confined to banking and is supervised by the
                  State or territorial banking commission or similar official or
                  is a foreign bank or equivalent institution, and (b) has an
                  audited net worth of at least $25,000,000 as demonstrated in
                  its latest annual financial statements, a copy of which is
                  attached hereto, as of a date not more than 16 months
                  preceding the date of sale of the Certificate in the case of a
                  U.S. bank, and not more than 18 months preceding such date of
                  sale for a foreign bank or equivalent institution.

            ___   Savings and Loan. The Transferee (a) is a savings and loan
                  association, building and loan association, cooperative bank,
                  homestead association or similar institution, which is
                  supervised and examined by a State or Federal authority having
                  supervision over any such institutions or is a foreign savings
                  and loan association or equivalent institution and (b) has an
                  audited net worth of at least $25,000,000 as demonstrated in
                  its latest annual financial statements, a copy of which is
                  attached hereto, as of a date not more than 16 months
                  preceding the date of sale of the Certificate in the case of a
                  U.S. savings and loan association, and not more than 18 months
                  preceding such date of sale for a foreign savings and loan
                  association or equivalent institution.

            ___   Broker-dealer. The Transferee is a dealer registered pursuant
                  to Section 15 of the Securities Exchange Act of 1934, as
                  amended.

            ___   Insurance Company. The Transferee is an insurance company
                  whose primary and predominant business activity is the writing
                  of insurance or the reinsuring of risks underwritten by
                  insurance companies and which is subject to supervision by the
                  insurance commissioner or a similar official or agency of a
                  State, U.S. territory or the District of Columbia.

            ___   State or Local Plan. The Transferee is a plan established and
                  maintained by a State, its political subdivisions, or any
                  agency or instrumentality of the State or its political
                  subdivisions, for the benefit of its employees.

            ___   ERISA Plan. The Transferee is an employee benefit plan within
                  the meaning of Title I of the Employee Retirement income
                  Security Act of 1974, as amended.

            ___   Investment Advisor. The Transferee is an investment advisor
                  registered under the Investment Advisers Act of 1940, as
                  amended.

            ___   Other. (Please supply a brief description of the entity and a
                  cross-reference to the paragraph and subparagraph under
                  subsection (a)(1) of Rule 144A pursuant to which it qualifies.
                  Note that registered investment companies should complete
                  Annex 2 rather than this Annex 1.)

                  ___________________________________________

                  ___________________________________________

                  ___________________________________________

            3. The term "securities" as used herein does not include (i)
      securities of issuers that are affiliated with the Transferee, (ii)
      securities that are part of an unsold allotment to or subscription by the
      Transferee, if the Transferee is a dealer, (iii) bank deposit notes and
      certificates of deposit, (iv) loan participations, (v) repurchase
      agreements, (vi) securities owned but subject to a repurchase agreement
      and (vii) currency, interest rate and commodity swaps. For purposes of
      determining the aggregate amount of securities owned and/or invested on a
      discretionary basis by the Transferee, the Transferee did not include any
      of the securities referred to in this paragraph.

            4. For purposes of determining the aggregate amount of securities
      owned and/or invested on a discretionary basis by the Transferee, the
      Transferee used the cost of such securities to the Transferee, unless the
      Transferee reports its securities holdings in its financial statements on
      the basis of their market value, and no current information with respect
      to the cost of those securities has been published, in which case the
      securities were valued at market. Further, in determining such aggregate
      amount, the Transferee may have included securities owned by subsidiaries
      of the Transferee, but only if such subsidiaries are consolidated with the
      Transferee in its financial statements prepared in accordance with
      generally accepted accounting principles and if the investments of such
      subsidiaries are managed under the Transferee's direction. However, such
      securities were not included if the Transferee is a majority-owned,
      consolidated subsidiary of another enterprise and the Transferee is not
      itself a reporting company under the Securities Exchange Act of 1934, as
      amended.

            5. The Transferee acknowledges that it is familiar with Rule 144A
      and understands that the Transferor and other parties related to the
      Transferred Certificate are relying and will continue to rely on the
      statements made herein because one or more sales to the Transferee may be
      in reliance on Rule 144A.

      ___   ___   Will the Transferee be purchasing the Transferred Certificate
      Yes   No    only for the Transferee's own account?

            6. If the answer to the foregoing question is "no", then in each
      case where the Transferee is purchasing for an account other than its own,
      such account belongs to a third party that is itself a "qualified
      institutional buyer" within the meaning of Rule 144A, and the "qualified
      institutional buyer" status of such third party has been established by
      the Transferee through one or more of the appropriate methods contemplated
      by Rule 144A.

            7. The Transferee will notify each of the parties to which this
      certification is made of any changes in the information and conclusions
      herein. Until such notice is given, the Transferee's purchase of the
      Transferred Certificate will constitute a reaffirmation of this
      certification as of the date of such purchase. In addition, if the
      Transferee is a bank or savings and loan as provided above, the Transferee
      agrees that it will furnish to such parties any updated annual financial
      statements that become available on or before the date of such purchase,
      promptly after they become available.

                                        ________________________________________
                                        Print Name of Transferee

                                        By:_____________________________________
                                           Name: _______________________________
                                           Title: ______________________________

<PAGE>

                             ANNEX 2 TO EXHIBIT D-3B

            QUALIFIED INSTITUTIONAL BUYER STATUS UNDER SEC RULE 144A

           [For Transferees That Are Registered Investment Companies]

            The undersigned hereby certifies as follows to [name of Transferor]
(the "Transferor"), and for the benefit of the Depositor, the Certificate
Registrar and the Trustee, with respect to the commercial mortgage pass-through
certificate being transferred (the "Transferred Certificate") as described in
the Transferee Certificate to which this certification relates and to which this
certification is an Annex:

            1. As indicated below, the undersigned is the chief financial
      officer, a person fulfilling an equivalent function, or other executive
      officer of the entity purchasing the Transferred Certificate (the
      "Transferee") or, if the Transferee is a "qualified institutional buyer"
      as that term is defined in Rule 144A under the Securities Act of 1933, as
      amended ("Rule 144A"), because the Transferee is part of a Family of
      Investment Companies (as defined below), is an executive officer of the
      investment adviser (the "Adviser").

            2. The Transferee is a "qualified institutional buyer" as defined in
      Rule 144A because (i) the Transferee is an investment company registered
      under the Investment Company Act of 1940, as amended, and (ii) as marked
      below, the Transferee alone owned and/or invested on a discretionary
      basis, or the Transferee's Family of Investment Companies owned, at least
      $100,000,000 in securities (other than the excluded securities referred to
      below) as of the end of the Transferee's most recent fiscal year. For
      purposes of determining the amount of securities owned by the Transferee
      or the Transferee's Family of Investment Companies, the cost of such
      securities was used, unless the Transferee or any member of the
      Transferee's Family of Investment Companies, as the case may be, reports
      its securities holdings in its financial statements on the basis of their
      market value, and no current information with respect to the cost of those
      securities has been published, in which case the securities of such entity
      were valued at market.

            ____  The Transferee owned and/or invested on a discretionary basis
                  $___________________ in securities (other than the excluded
                  securities referred to below) as of the end of the
                  Transferee's most recent fiscal year (such amount being
                  calculated in accordance with Rule 144A).

            ____  The Transferee is part of a Family of Investment Companies
                  which owned in the aggregate $______________ in securities
                  (other than the excluded securities referred to below) as of
                  the end of the Transferee's most recent fiscal year (such
                  amount being calculated in accordance with Rule 144A).

            3. The term "Family of Investment Companies" as used herein means
      two or more registered investment companies (or series thereof) that have
      the same investment adviser or investment advisers that are affiliated (by
      virtue of being majority owned subsidiaries of the same parent or because
      one investment adviser is a majority owned subsidiary of the other).

            4. The term "securities" as used herein does not include (i)
      securities of issuers that are affiliated with the Transferee or are part
      of the Transferee's Family of Investment Companies, (ii) bank deposit
      notes and certificates of deposit, (iii) loan participations, (iv)
      repurchase agreements, (v) securities owned but subject to a repurchase
      agreement and (vi) currency, interest rate and commodity swaps. For
      purposes of determining the aggregate amount of securities owned and/or
      invested on a discretionary basis by the Transferee, or owned by the
      Transferee's Family of Investment Companies, the securities referred to in
      this paragraph were excluded.

            5. The Transferee is familiar with Rule 144A and understands that
      the parties to which this certification is being made are relying and will
      continue to rely on the statements made herein because one or more sales
      to the Transferee will be in reliance on Rule 144A.

      ___   ___   Will the Transferee be purchasing the Transferred Certificate
      Yes   No    only for the Transferee's own account?

            6. If the answer to the foregoing question is "no", then in each
      case where the Transferee is purchasing for an account other than its own,
      such account belongs to a third party that is itself a "qualified
      institutional buyer" within the meaning of Rule 144A, and the "qualified
      institutional buyer" status of such third party has been established by
      the Transferee through one or more of the appropriate methods contemplated
      by Rule 144A.

            7. The undersigned will notify the parties to which this
      certification is made of any changes in the information and conclusions
      herein. Until such notice, the Transferee's purchase of the Transferred
      Certificate will constitute a reaffirmation of this certification by the
      undersigned as of the date of such purchase.

                                        ________________________________________
                                        Print Name of Transferee or Adviser

                                        By:_____________________________________
                                           Name: _______________________________
                                           Title: ______________________________

                                        IF AN ADVISER:

                                        ________________________________________
                                        Print Name of Transferee

                                        Date:___________________________________

<PAGE>

                                   EXHIBIT E-1

                    FORM OF TRANSFER AFFIDAVIT AND AGREEMENT
                  FOR TRANSFERS OF REMIC RESIDUAL CERTIFICATES

STATE OF                )
                        ss:
COUNTY OF               )

            ____________________, being first duly sworn, deposes and says that:

            1. He/She is the ____________________ of ____________________ (the
prospective transferee (the "Transferee") of Morgan Stanley Dean Witter Capital
I Inc., Commercial Mortgage Pass-Through Certificates, Series 2002-IQ2, Class
[R-I] [R-II] [R-III], evidencing a ____% Percentage Interest in such Class (the
"Residual Certificates")), a ________________ duly organized and validly
existing under the laws of ____________________, on behalf of which he/she makes
this affidavit. All capitalized terms used but not otherwise defined herein
shall have the respective meanings set forth in the Pooling and Servicing
Agreement as amended and restated pursuant to which the Residual Certificates
were issued (the "Pooling and Servicing Agreement").

            2. The Transferee (i) is, and as of the date of transfer will be, a
"Permitted Transferee" and will endeavor to remain a "Permitted Transferee" for
so long as it holds the Residual Certificates, and (ii) is acquiring the
Residual Certificates for its own account or for the account of another
prospective transferee from which it has received an affidavit in substantially
the same form as this affidavit. A "Permitted Transferee" is any Person other
than a "disqualified organization" or a possession of the United States. (For
this purpose, a "disqualified organization" means the United States, any state
or political subdivision thereof, any agency or instrumentality of any of the
foregoing (other than an instrumentality, all of the activities of which are
subject to tax and, except for the Federal Home Loan Mortgage Corporation, a
majority of whose board of directors is not selected by any such governmental
entity) or any foreign government, international organization or any agency or
instrumentality of such foreign government or organization, any rural electric
or telephone cooperative, or any organization (other than certain farmers'
cooperatives) that is generally exempt from federal income tax unless such
organization is subject to the tax on unrelated business taxable income.

            3. The Transferee is aware (i) of the tax that would be imposed on
transfers of the Residual Certificates to "disqualified organizations" under the
Code that applies to all transfers of the Residual Certificates; (ii) that such
tax would be on the transferor or, if such transfer is through an agent (which
Person includes a broker, nominee or middleman) for a non-Permitted Transferee,
on the agent; (iii) that the Person otherwise liable for the tax shall be
relieved of liability for the tax if the transferee furnishes to such Person an
affidavit that the transferee is a Permitted Transferee and, at the time of
transfer, such Person does not have actual knowledge that the affidavit is
false; and (iv) that the Residual Certificates may be a "noneconomic residual
interest" within the meaning of Treasury regulation Section 1.860E-1(c) and that
the transferor of a "noneconomic residual interest" will remain liable for any
taxes due with respect to the income on such residual interest, unless no
significant purpose of the transfer is to enable the transferor to impede the
assessment or collection of tax.

            4. The Transferee is aware of the tax imposed on a "pass-through
entity" holding the Residual Certificates if at any time during the taxable year
of the pass-through entity a non-Permitted Transferee is the record holder of an
interest in such entity. (For this purpose, a "pass-through entity" includes a
regulated investment company, a real estate investment trust or common trust
fund, a partnership, trust or estate, and certain cooperatives.)

            5. The Transferee is aware that the Certificate Registrar will not
register any transfer of the Residual Certificates by the Transferee unless the
Transferee's transferee, or such transferee's agent, delivers to the Certificate
Registrar, among other things, an affidavit and agreement in substantially the
same form as this affidavit and agreement. The Transferee expressly agrees that
it will not consummate any such transfer if it knows or believes that any
representation contained in such affidavit and agreement is false.

            6. The Transferee consents to any additional restrictions or
arrangements that shall be deemed necessary upon advice of counsel to constitute
a reasonable arrangement to ensure that the Residual Certificate will only be
owned, directly or indirectly, by a Permitted Transferee.

            7. The Transferee's taxpayer identification number is
_________________.

            8. The Transferee has reviewed the provisions of Section 3.3(e) of
the Pooling and Servicing Agreement, a description of which provisions is set
forth in the Residual Certificates (in particular, clause (F) of Section 3.3(e)
which authorizes the Paying Agent or the Trustee to deliver payments on the
Residual Certificate to a Person other than the Transferee and clause (G) of
Section 3.3(e) which authorizes the Trustee to negotiate a mandatory sale of the
Residual Certificates, in either case, in the event that the Transferee holds
such Residual Certificates in violation of Section 3.3(e)); and the Transferee
expressly agrees to be bound by and to comply with such provisions.

            9. No purpose of the Transferee relating to its purchase or any sale
of the Residual Certificates is or will be to impede the assessment or
collection of any tax.

            10. The Transferee hereby represents to and for the benefit of the
transferor that the Transferee intends to pay any taxes associated with holding
the Residual Certificates as they become due, fully understanding that it may
incur tax liabilities in excess of any cash flows generated by the Residual
Certificates.

            11. The Transferee will, in connection with any transfer that it
makes of the Residual Certificates, deliver to the Certificate Registrar a
representation letter substantially in the form of Exhibit E-2 to the Pooling
and Servicing Agreement in which it will represent and warrant, among other
things, that it is not transferring the Residual Certificates to impede the
assessment or collection of any tax and that it has at the time of such transfer
conducted a reasonable investigation of the financial condition of the proposed
transferee as contemplated by Treasury regulation Section 1.860E-1(c)(4)(i) and
has satisfied the requirements of such provision.

            12. The Transferee is a citizen or resident of the United States, a
corporation, a partnership or other entity created or organized in, or under the
laws of, the United States or any political subdivision thereof, or an estate or
trust whose income from sources without the United States is includible in gross
income for United States federal income tax purposes regardless of its
connection with the conduct of a trade or business within the United States.

            13. The Transferee has computed any consideration paid to it to
acquire the Class R Certificate in accordance with proposed U.S. Treasury
Regulations Sections 1.860E-1(c)(4)(iii) and 1.860E-1(c)(5) (or, after they have
been finalized, the final regulations) by computing present values using a
discount rate equal to the applicable Federal rate prescribed by Section 1274(d)
of the Code, compounded semi-annually.

            The Transferee has computed any consideration paid to it to acquire
the Class R Certificate in accordance with proposed U.S. Treasury Regulations
Sections 1.860E-1(c)(4)(iii) and 1.860E-1(c)(5) (or, after they have been
finalized, the final regulations) by computing present values using a discount
rate at least equal to the rate at which the Transferee regularly borrows, in
the ordinary course of its trade or business, substantial funds from unrelated
parties. The Transferee has provided all information necessary to demonstrate to
the transferor that it regularly borrows at such rate.

            The transfer of the Class R Certificate complies with Section 6 of
Revenue Procedure 2001-12 (the "Revenue Procedure"), 2001-3 I.R.B. 335 (January
16, 2001) (or comparable provisions of applicable final U.S. Treasury
Regulations) and, accordingly,

            (i) the Transferee is an "eligible corporation," as defined in
      Section 860L(a)(2) of the Code, as to which income from the Class R
      Certificate will only be taxed in the United States;

            (ii) at the time of the transfer, and at the close of the
      Transferee's two fiscal years preceding the year of the transfer, the
      Transferee had gross assets for financial reporting purposes (excluding
      any obligation of a person related to the Investor within the meaning of
      Section 860L(g) of the Code and excluding any other asset if a principal
      purpose for holding or acquiring that asset is to permit the Transferee to
      satisfy this Section 13(ii)) in excess of $100 million and net assets in
      excess of $10 million;

            (iii) the Transferee will transfer the Class R Certificate only to
      another "eligible corporation," as defined in Section 860(a)(2) of the
      Code, in a transaction that satisfies the requirements of Section 4 of the
      Revenue Procedure and the transfer is not to a foreign branch of such
      eligible corporation or any other arrangement by which the Class R
      Certificate will be at any time subject to net tax by a foreign country or
      possession of the United States; and

            (iv) the Transferee determined the consideration paid to it to
      acquire the Class R Certificate based on reasonable market assumptions
      (including, but not limited to, borrowing and investment rates, prepayment
      and loss assumptions, expense and reinvestment assumptions, tax rates and
      other factors specific to the Transferee) that it has determined in good
      faith.

            IN WITNESS WHEREOF, the Transferee has caused this instrument to be
executed on its behalf, pursuant to the authority of its Board of Directors, by
its ____________________ and its corporate seal to be hereunto attached this day
of ___________, ____.

                                        [NAME OF TRANSFEREE]

                                        By:____________________________________
                                           [Name of Officer]
                                           [Title of Officer]

<PAGE>

                                   EXHIBIT E-2

                 FORM OF TRANSFEROR CERTIFICATE FOR TRANSFERS OF
                           REMIC RESIDUAL CERTIFICATES

                                          _______________, 20__

LaSalle Bank National Association,
  as Certificate Registrar
135 South LaSalle Street, Suite 1625
Chicago, Illinois 60603

Attention:  Asset-Backed Securities Trust Services Group

            Re:   Morgan Stanley Dean Witter Capital I Inc., Commercial Mortgage
                  Pass-Through Certificates, Series 2002-IQ2 (the
                  "Certificates")

Dear Sirs:

            This letter is delivered to you in connection with the transfer by
_________________ (the "Transferor") to _________________ (the "Transferee") of
[Class R-I] [Class R-II] [Class R-III] Certificates evidencing a ____%
Percentage Interest in such Class (the "Residual Certificates"). The
Certificates, including the Residual Certificates, were issued pursuant to the
Pooling and Servicing Agreement, dated as of June 1, 2002 (the "Pooling and
Servicing Agreement"), among Morgan Stanley Dean Witter Capital I Inc., as
Depositor, ORIX Capital Markets, LLC, as Master Servicer, Lend Lease Asset
Management, L.P., as special servicer, LaSalle Bank National Association, as
trustee, paying agent and certificate registrar and ABN AMRO Bank N.V., as
fiscal agent. All capitalized terms used but not otherwise defined herein shall
have the respective meanings set forth in the Pooling and Servicing Agreement.
The Transferor hereby certifies, represents and warrants to you, as Certificate
Registrar, that:

            1. No purpose of the Transferor relating to the transfer of the
Residual Certificates by the Transferor to the Transferee is or will be to
impede the assessment or collection of any tax.

            2. The Transferor understands that the Transferee has delivered to
you a Transfer Affidavit and Agreement in the form attached to the Pooling and
Servicing Agreement. The Transferor does not know or believe that any
representation contained therein is false.

            3. The Transferor has at the time of this transfer conducted a
reasonable investigation of the financial condition of the Transferee as
contemplated by Treasury regulation Section 1.860E-1(c)(4)(i) and, as a result
of that investigation, the Transferor has determined that the Transferee has
historically paid its debts as they became due and has found no significant
evidence to indicate that the Transferee will not continue to pay its debts as
they become due in the future. The Transferor understands that the transfer of
the Residual Certificates may not be respected for United States income tax
purposes (and the Transferor may continue to be liable for United States income
taxes associated therewith) unless the Transferor has conducted such an
investigation.

            4. The Transferor does not know and has no reason to know that the
Transferee will not honor the restrictions on subsequent transfers by the
Transferee under the Transfer Affidavit and Agreement, delivered in connection
with this transfer.

                                       Very truly yours,

                                        ________________________________________
                                       (Transferor)

                                        By:_____________________________________
                                           Name: _______________________________
                                           Title: ______________________________

<PAGE>

                                    EXHIBIT F

                        FORM OF REGULATION S CERTIFICATE

                    Morgan Stanley Dean Witter Capital I Inc.
                 Commercial Mortgage Pass-Through Certificates,
                 Series 2002-IQ2, Class __ (the "Certificates")

TO:   Morgan Guaranty Trust Company
      of New York, Brussels Office
      Euroclear Operation Center
      or
      CEDEL, S.A.

            This is to certify that as of the date hereof, and except as set
forth below, the above-captioned Certificates held by you or on your behalf for
our account are beneficially owned by (a) non-U.S person(s) or (b) U.S.
person(s) who purchased the Certificates in transactions which did not require
registration under the United States Securities Act of 1933, as amended (the
"Securities Act"). As used in this paragraph, the term "U.S. person" has the
meaning given to it by Regulation S under the Securities Act. To the extent that
we hold an interest in any of the Certificates on behalf of person(s) other than
ourselves, we have received certifications from such person(s) substantially
identical to the certifications set forth herein.

            We undertake to advise you promptly by tested telex on or prior to
the date on which you intend to submit your certification relating to the
Certificates held by you or on your behalf for our account in accordance with
your operating procedures if any applicable statement herein is not correct on
such date, and in the absence of any such notification it may be assumed that
this certification applies as of such date.

            This certification excepts and does not relate to $__________ of
such beneficial interest in the above Certificates in respect of which we are
not able to certify and as to which we understand the exercise of any rights to
payments thereon and the exchange for definitive Certificates or for an interest
in definitive Certificates in global form cannot be made until we do so certify.

<PAGE>

            We understand that this certification is required in connection with
certain securities laws of the United States. In connection therewith, if
administrative or legal proceedings are commenced or threatened in connection
with which this certification is or would be relevant, we irrevocably authorize
you to produce this certification to any interested party in such proceedings.

Dated: __________, 2002

                                        By: ____________________________________
                                            As, or as agent for, the beneficial
                                            owner(s) of the Certificates to
                                            which this certificate relates.

<PAGE>

                                    EXHIBIT G

                                    RESERVED

<PAGE>

                                    EXHIBIT H

                         FORM OF EXCHANGE CERTIFICATION

                                          __________ __, 200_

TO:   The Depository Trust Company

      CEDEL BANK, S. A. or
      Morgan Guaranty Trust Company
      of New York, Brussels Office
      Euroclear Operation Center

      ORIX Capital Markets, LLC, as Master Servicer

      LaSalle Bank National Association,
      as Certificate Registrar and Trustee

            This is to notify you as to the transfer of the beneficial interest
in $_______________ of Morgan Stanley Dean Witter Capital I Inc., Commercial
Mortgage Pass-Through Certificates, Series 2002-IQ2, Class __(the
"Certificates").

            The undersigned is the owner of a beneficial interest in the Class
__ [Rule 144A-IAI Global Certificate] [Regulation S Global Certificate] and
requests that on [INSERT DATE], (i) [Euroclear] [CEDEL] [DTC] debit account
#__________, with respect to $__________ principal denomination of the Class __
[Rule 144A-IAI Global Certificate] [Regulation S Global Certificate] and (ii)
[DTC] [Euroclear] [CEDEL] credit the beneficial interest of the below-named
purchaser, account #__________, in the Class __ [Rule 144A-IAI Global
Certificate] [Regulation S Global Certificate] in the same principal
denomination as follows:

            Name:
            Address:
            Taxpayer ID No.:

            The undersigned hereby represents that this transfer is being made
in accordance with an exemption from the provisions of Section 5 of the United
States Securities Act of 1933, as amended (the "Securities Act"), which
representation is based upon the reasonable belief that the purchaser is [not a
U.S. Person as defined in Regulation S under the Securities Act][a "qualified
institutional buyer," as defined in Rule 144A under the Securities Act, and that
such purchaser has acquired the Certificates in a transaction effected in
accordance with the exemption from the registration requirements of the
Securities Act provided by Rule 144A and, if the purchaser has purchased the
Certificates for one or more accounts for which it is acting as fiduciary or
agent, each such account is a qualified institutional buyer or an institutional
"accredited investor" within the meaning of Rule 501(a)(1), (2), (3) or (7) of
Regulation D of the 1933 Act][an institutional "accredited investor" within the
meaning of Rule 501(a)(1), (2), (3) or (7) of Regulation D of the 1933 Act and
in accordance with any applicable securities laws of any state of the United
States and, if the purchaser has purchased the Certificates for one or more
accounts for which it is acting as fiduciary or agent, each such account is a
qualified institutional buyer or an institutional "accredited investor" within
the meaning of Rule 501(a)(1), (2), (3) or (7) of Regulation D of the 1933 Act]
and that the purchaser is acquiring beneficial interests in the applicable
Certificate(1) for its own account or for one or more institutional accounts for
which it is acting as fiduciary or agent in a minimum amount equivalent to not
less than U.S.[$25,000] [$100,000] and integral multiples of U.S. $1 in excess
thereof for each such account.

                                        Very truly yours,

                                        [NAME OF HOLDER OF CERTIFICATE]

                                        By:_____________________________________
                                           [Name], [Chief Financial
                                           or other Executive Officer]

----------
(1)   [NOTE: INFORMATION PROVIDED ABOVE WITH RESPECT TO PURCHASER AND THE
      FOREGOING REPRESENTATION MUST BE PROVIDED TO THE CERTIFICATE REGISTRAR
      UPON ANY TRANSFER OF CERTIFICATES IF THE CERTIFICATES ARE NO LONGER HELD
      IN GLOBAL FORM.]

<PAGE>

                                    EXHIBIT I

                     FORM OF EUROCLEAR OR CEDEL CERTIFICATE

                    Morgan Stanley Dean Witter Capital I Inc.
                 Commercial Mortgage Pass-Through Certificates,
                 Series 2002-IQ2, Class __ (the "Certificates")

TO:   LaSalle Bank National Association, as Certificate Registrar and Trustee
      Attn: Asset Backed Securities Trust Services Group
            Morgan Stanley Dean Witter Capital I Inc.
            Commercial Mortgage Pass-Through Certificates, Series 2002-IQ2

            This is to certify that, based solely on certifications we have
received in writing, by tested telex or by electronic transmission from member
organizations appearing in our records as persons being entitled to a portion of
the principal amount of the Certificates set forth below (our "Member
Organizations") substantially to the effect set forth in the Pooling and
Servicing Agreement dated as of June 1, 2002 (the "Pooling and Servicing
Agreement") among you, Morgan Stanley Dean Witter Capital I Inc., ORIX Capital
Markets, LLC, Lend Lease Asset Management, L.P. and ABN AMRO Bank N.V., U.S.
$__________ principal amount of the above-captioned Certificates held by us or
on our behalf are beneficially owned by (a) non-U.S. person(s) or (b) U.S.
person(s) who purchased the Certificates in transactions that did not require
registration under the United States Securities Act of 1933, as amended (the
"Securities Act"). As used in this paragraph, the term "U.S. person" has the
meaning given to it by Regulation S under the Securities Act.

            We further certify that as of the date hereof we have not received
any notification from any of our Member Organizations to the effect that the
statements made by such Member Organizations with respect to any interest in the
Certificates identified above are no longer true and cannot be relied upon as of
the date hereof.

            [On Release Date: We hereby acknowledge that no portion of the Class
__ Regulation S Temporary Global Certificate shall be exchanged for an interest
in the Class __ Regulation S Permanent Global Certificate (as each such term is
defined in the Pooling and Servicing Agreement) with respect to the portion
thereof for which we have not received the applicable certifications from our
Member Organizations.]

            [Upon any payments under the Regulation S Temporary Global
Certificate: We hereby agree to hold (and return to the Trustee upon request)
any payments received by us on the Class __ Regulation S Temporary Global
Certificate (as defined in the Pooling and Servicing Agreement) with respect to
the portion thereof for which we have not received the applicable certifications
from our Member Organizations.]

            We understand that this certification is required in connection with
certain securities laws of the United States. In connection therewith, if
administrative or legal proceedings are commenced or threatened in connection
with which this certification is or would be relevant, we irrevocably authorize
you to produce this certification to any interested party in such proceedings.

Dated:

                                        [MORGAN GUARANTY TRUST COMPANY OF NEW
                                        YORK, Brussels office, as operator of
                                        the Euroclear System]

                                        or

                                        [CEDEL BANK, S.A.]

                                        By:_____________________________________

<PAGE>

                                    EXHIBIT J

              LIST OF LOANS TO WHICH EXCESS SERVICING FEES ARE PAID

<TABLE>
<CAPTION>
              MORTGAGE                                                CUT-OFF DATE   MASTER EXCESS   PRIMARY EXCESS
LOAN NO      LOAN SELLER   PROPERTY NAME                                 BALANCE       SERVICING        SERVICING
-------      -----------   -------------                              ------------   -------------   --------------
<C>            <C>         <C>                                        <C>                 <C>               <C>

2              MSDWMC      One Seaport Plaza                           $61,000,000        3                  0
1340001        SF          Fayette Pavilion Shopping Center            $49,178,071        3                  0
3              MSDWMC      ARC Portfolio 4 - Harmony Road              $13,951,677        3                  0
3              MSDWMC      ARC Portfolio 4 - Stoneybrook                $9,986,222        3                  0
3              MSDWMC      ARC Portfolio 4 - Siouxland Estates          $4,041,130        3                  0
3              MSDWMC      ARC Portfolio 4 - Chalet City                $3,841,292        3                  0
3              MSDWMC      ARC Portfolio 4 - Denton Falls               $3,714,512        3                  0
3              MSDWMC      ARC Portfolio 4 - The Woodlands              $2,927,648        3                  0
3              MSDWMC      ARC Portfolio 4 - Northern Hills             $2,345,619        3                  0
3              MSDWMC      ARC Portfolio 4 - Western Park               $1,642,068        3                  0
3              MSDWMC      ARC Portfolio 4 - Oak Glen                   $1,147,093        3                  0
3              MSDWMC      ARC Portfolio 4 - Vogel Manor                $1,056,092        3                  0
3              MSDWMC      ARC Portfolio 4 - Bush Ranch                   $767,689        3                  0
3              MSDWMC      ARC Portfolio 4 - Hidden Acres                 $447,174        3                  0
1338101        SF          The Centre at Deane Hill                    $30,495,655        3                  0
1317004        SF          Ballas Medical Office Building               $4,318,610        3                  0
1317006        SF          Baxter Office Building                       $3,651,510        3                  0
1317002        SF          Woodcrest Plaza                              $3,629,558        3                  0
1317003        SF          Chapel Hill II                               $3,554,949        3                  0
1317001        SF          Westchase Park                               $2,817,617        3                  0
1317010        SF          Woodsmill 40 Medical Center                  $2,666,594        3                  0
1317005        SF          Town & Country Medical Office Building       $1,939,892        3                  0
1317009        SF          Spirit Business Center South                 $1,342,952        3                  0
1317008        SF          Spirit Business Center North                 $1,123,503        3                  0
1317007        SF          Spirit Business Center                       $1,084,047        3                  0
3212828        JHREF       1750 K Street, NW                           $25,957,671        3                 6.43
400034840A     TIAA        Commerce Park Southwest                      $7,914,209        3                  0
400034840B     TIAA        Commerce Park Northwest                      $6,076,982        3                  0
400034840C     TIAA        Commerce Park Westchase                      $5,441,018        3                  0
400034840D     TIAA        Commerce Park Medical Center                 $2,331,866        3                  0
100000000      TIAA        Blue Bell Plaza                             $18,042,182        3                  0
752714         PS          Four Points Business Park                   $16,250,000        3                 9.5
752286         PS          854 Golf Lane                               $14,788,969        3                 9.5
3212836        JHREF       BJ's Wholesale Club                         $14,639,046        3                 6.43
752710         PS          Mackenzie Pointe                            $14,064,426        3                 9.5
1337001        SF          Tesoro Building                             $13,475,273        3                  0
751633         PS          Loehmann's Plaza                            $10,693,773        3                 9.5
751632         PS          Lake City Center                             $2,772,450        3                 9.5
400034839      TIAA        Argonaut Shopping Center                    $11,946,885        3                  0
400034849      TIAA        The Retreat At Westchase                     $9,919,844        3                  0
752347         PS          Woodman Valley Shopping Center               $9,669,554        3                 9.5
3212825        JHREF       Preston Center Plaza                         $9,200,000        3                 6.43
1325701        SF          Park Center                                  $8,380,540        3                  0
02-10675       MSDWMC      PW Pipe-Tacoma, WA                           $2,725,164        3                  0
02-10674       MSDWMC      PW Pipe-West Jordan, UT                      $2,126,227        3                  0
02-10678       MSDWMC      PW Pipe-Perris, CA                           $1,687,006        3                  0
02-10677       MSDWMC      PW Pipe-Eugene, OR                           $1,647,077        3                  0
3212837        JHREF       Cooper Standard Automotive Building          $8,136,863        3                 6.43
751571         PS          The Maggitti Building                        $4,745,711        3                 9.5
751571         PS          300 Hansen Access Road                       $2,847,426        3                 9.5
752061         PS          The Maggitti Building                          $263,104        3                 9.5
752061         PS          300 Hansen Access Road                         $157,863        3                 9.5
1352301        SF          Research Interchange                         $7,974,238        3                  0
200000000      TIAA        Centex Office Center                         $7,950,897        3                  0
3212829        JHREF       Strouds Building                             $7,628,750        3                 6.43
3212823        JHREF       Scottsdale Executive Villas                  $7,584,986        3                 6.43
3212841        JHREF       BJ's Wholesale Club                          $7,477,667        3                 6.43
1336901        SF          Tempe-Southern Business Center               $6,998,418        3                  0
752333         PS          Bechtel Office Building                      $6,744,224        3                 9.5
751544         PS          Morristown Plaza                             $6,412,981        3                 9.5
1335201        SF          McLean Ridge III                             $3,372,091        3                  0
1335301        SF          McLean Ridge IV                              $3,007,532        3                  0
01-10069       MSDWMC      Meadowbrook Village                          $6,377,331        3                  0
1329401        SF          Governor Morris Office Center                $5,906,635        3                  0
1335401        SF          Abbott's Bridge Station Shopping Center      $5,810,956        3                  0
3212799        JHREF       Lost Dutchman RV Park                        $5,764,598        3                 6.43
1330601        SF          American Plaza I                             $5,505,542        3                  0
751095         PS          Lakewood II                                  $5,479,151        3                 9.5
1333701        SF          Admiral's Crossing Shopping Center           $5,469,308        3                  0
300000000      TIAA        Fry's Plaza Shopping Center                  $5,377,609        3                  0
1324701        SF          McLean Ridge I                               $2,996,216        3                  0
1324601        SF          McLean Ridge II                              $2,370,137        3                  0
1332001        SF          Winn Dixie                                   $5,258,031        3                  0
1336001        SF          2 Goodyear Building                          $5,131,556        3                  0
1308001        SF          I-370 Warehouse                              $5,064,845        3                  0
1337901        SF          Sinclair Business Park                       $4,661,816        3                  0
1330201        SF          Hi-Tech I & 2                                $4,512,769        3                  0
752514         PS          Foxborough Business Center                   $4,401,131        3                 9.5
751085         PS          Milliken Airport Center                      $4,373,906        3                 9.5
752320         PS          333 West 45th Street                         $4,325,990        3                 9.5
751379         PS          2120-2124 Barrett Park Dr.                   $2,773,298        3                 9.5
751379         PS          1701 Oakbrook Drive                            $796,864        3                 9.5
751379         PS          4187-4199 Pleasantdale Rd                      $733,954        3                 9.5
751501         PS          205 Chubb Avenue                             $4,237,798        3                 9.5
752413         PS          Powder Springs Valley Shopping Center        $4,222,259        3                 9.5
1333601        SF          Road Runner Sports Facility                  $4,217,077        3                  0
3212822        JHREF       Speedway Square Shopping Center              $4,119,744        3                 6.43
3212839        JHREF       230 Newport Center                           $4,075,000        3                 6.43
752297         PS          16750 Vincennes Avenue                       $4,054,251        3                 9.5
752563         PS          10420 Bubb Road                              $3,989,082        3                 9.5
751213         PS          Menlo Business Park                          $3,875,743        3                 9.5
752547         PS          MarkWest Office Building                     $3,854,024        3                 9.5
3212765        JHREF       Best Western Beach Resort Hotel              $3,682,237        3                 6.43
752621         PS          Maitland Professional Office Building II     $3,652,221        3                 9.5
751491         PS          Park Ave Safeway Retail Center               $3,484,260        3                 9.5
1332601        SF          Oak Hill Place                               $3,399,307        3                  0
1354801        SF          Character Collectibles Building              $3,370,101        3                  0
1332301        SF          Kenmore Rite Aid Store                       $3,276,246        3                  0
1330901        SF          Bristol Office Building                      $3,238,553        3                  0
3212767        JHREF       Staples/Comp USA                             $3,187,163        3                 6.43
3212768        JHREF       Walgreen's Plaza                             $3,100,900        3                 6.43
751336         PS          300 Chubb Avenue                             $3,096,781        3                 9.5
1314101        SF          Normandy Square Shopping Center              $3,045,531        3                  0
1336801        SF          Pecos and Post I Commerce Center             $2,918,766        3                  0
751848         PS          Winn Dixie Shopping Center                   $2,916,463        3                 9.5
1329201        SF          Rite Aid Drugstore - Monroe                  $2,797,852        3                  0
3212824        JHREF       Northern Business Center                     $2,796,248        3                 6.43
1325801        SF          Cypress Plaza                                $2,770,218        3                  0
751980         PS          Rock Creek Apartments                        $2,756,008        3                 9.5
1328901        SF          Rite Aid & Branch Banking and Trust          $2,734,124        3                  0
1326301        SF          Wilson Grove Village Shopping Center         $2,686,460        3                  0
3212821        JHREF       Northpoint Trade Center, Phase II            $2,547,654        3                 6.43
751110         PS          Gwinnet 316 Phase I                          $2,516,462        3                 9.5
751419         PS          Roseville Business Commons                   $2,512,685        3                 9.5
751067         PS          Lightolier Building                          $2,511,461        3                 9.5
1299101        SF          Winn Dixie Marketplace                       $2,008,240        3                  0
1294001        SF          Winn-Dixie (#663)                            $1,996,688        3                  0
750967         PS          Gwinnett 316 Office Park                     $1,764,174        3                 9.5
751138         PS          Gunderson Detmer                             $1,636,477        3                 9.5
1308101        SF          Colorado Club Office Building                $1,443,617        3                  0
1336701        SF          Hacienda & Polaris Business Center           $1,402,544        3                  0
1326401        SF          Eckerd Drugs                                 $1,253,698        3                  0
1296201        SF          Winn Dixie Supermarket #1643                 $1,235,972        3                  0
1290001        SF          Winn-Dixie - Kingsland                       $1,203,648        3                  0
751315         PS          Federal Express Building                       $551,863        3                 9.5

                                                                      $716,955,324
</TABLE>

<PAGE>

                                   EXHIBIT K-1

                   FORM OF MORTGAGE LOAN PURCHASE AGREEMENT I
                                  (STATE FARM)

<PAGE>

                                                                  EXECUTION COPY

                        MORTGAGE LOAN PURCHASE AGREEMENT
                               (STATE FARM LOANS)

            Mortgage Loan Purchase Agreement (this "Agreement"), dated as of
June 1, 2002, between State Farm Life Insurance Company (the "Seller"), and
Morgan Stanley Dean Witter Capital I Inc. (the "Purchaser").

            The Seller agrees to sell and the Purchaser agrees to purchase
certain mortgage loans listed on Exhibit 1 hereto (the "Mortgage Loans") as
described herein. The Purchaser will convey the Mortgage Loans to a trust (the
"Trust") created pursuant to a Pooling and Servicing Agreement (the "Pooling and
Servicing Agreement"), to be dated as of June 1, 2002, between the Purchaser, as
depositor, ORIX Capital Markets, LLC, as master servicer (the "Master
Servicer"), Lend Lease Asset Management, L.P., as special servicer (the "Special
Servicer"), and LaSalle Bank National Association, as trustee, paying agent and
certificate registrar (the "Trustee"). In exchange for the Mortgage Loans and
certain other mortgage loans to be purchased by the Purchaser (collectively the
"Other Mortgage Loans"), the Trust will issue to the Depositor pass-through
certificates to be known as Morgan Stanley Dean Witter Capital I Inc.,
Commercial Mortgage Pass-Through Certificates, Series 2002-IQ2 (the
"Certificates"). The Certificates will be issued pursuant to the Pooling and
Servicing Agreement.

            Capitalized terms used herein but not defined herein shall have the
meanings assigned to them in the Pooling and Servicing Agreement.

            The Class A-1, Class A-2, Class A-3, Class B, Class C and Class D
Certificates (the "Public Certificates") will be sold by the Purchaser to Morgan
Stanley & Co. Incorporated and Credit Suisse First Boston Corporation (the
"Underwriters"), pursuant to an Underwriting Agreement, between the Purchaser
and the Underwriters, dated June 19, 2002 (the "Underwriting Agreement"), and
the Class X-1, Class X-2, Class E, Class F, Class G, Class H, Class J, Class K,
Class L, Class M, Class N, Class O, Class R-I, Class R-II and Class R-III
Certificates (the "Private Certificates") will be sold by the Purchaser to
Morgan Stanley & Co. Incorporated (the "Initial Purchaser") pursuant to a
Certificate Purchase Agreement, between the Purchaser and the Initial Purchaser,
dated June 19, 2002 (the "Certificate Purchase Agreement"). The Underwriters
will offer the Public Certificates for sale publicly pursuant to a Prospectus
dated June 6, 2002, as supplemented by a Prospectus Supplement dated June 19,
2002 (together, the "Prospectus Supplement"), and the Initial Purchaser will
offer the Private Certificates for sale in transactions exempt from the
registration requirements of the Securities Act of 1933 pursuant to a Private
Placement Memorandum dated June 19, 2002 (the "Memorandum").

            In consideration of the mutual agreements contained herein, the
Seller and the Purchaser hereby agree as follows:

            Section 1. Agreement to Purchase. The Seller agrees to sell, and the
Purchaser agrees to purchase, on a servicing released basis, the Mortgage Loans
identified on the schedule (the "Mortgage Loan Schedule") annexed hereto as
Exhibit 1, as such schedule may be amended to reflect the actual Mortgage Loans
accepted by the Purchaser pursuant to the terms hereof. The Cut-Off Date with
respect to each Mortgage Loan is such Mortgage Loan's Due Date in the month of
June 1, 2002. The Mortgage Loans and the Other Mortgage Loans will have an
aggregate principal balance as of the close of business on the Cut-Off Date,
after giving effect to any payments due on or before such date, whether or not
received, of $778,574,565. The sale of the Mortgage Loans shall take place on
June 27, 2002 or such other date as shall be mutually acceptable to the parties
hereto (the "Closing Date"). The purchase price to be paid by the Purchaser for
the Mortgage Loans shall equal the amount set forth as such purchase price on
Exhibit 3 hereto. The purchase price shall be paid to the Seller by wire
transfer in immediately available funds on the Closing Date.

            On the Closing Date, the Purchaser will assign to the Trustee
pursuant to the Pooling and Servicing Agreement all of its right, title and
interest in and to the Mortgage Loans and its rights under this Agreement (to
the extent set forth in Section 14), and the Trustee shall succeed to such
right, title and interest in and to the Mortgage Loans and the Purchaser's
rights under this Agreement (to the extent set forth in Section 14).

            Section 2. Conveyance of Mortgage Loans. Effective as of the Closing
Date, subject only to receipt of the consideration referred to in Section 1
hereof and the satisfaction of the conditions specified in Sections 6 and 7
hereof, the Seller does hereby transfer, assign, set over and otherwise convey
to the Purchaser, without recourse, all the right, title and interest of the
Seller, subject to that certain Servicing Rights Purchase and Sale Agreement,
dated June 1, 2002, between the Seller and the Master Servicer, in and to the
Mortgage Loans identified on the Mortgage Loan Schedule as of the Closing Date.
The Mortgage Loan Schedule, as it may be amended from time to time on or prior
to the Closing Date, shall conform to the requirements of this Agreement and the
Pooling and Servicing Agreement. In connection with such transfer and
assignment, the Seller shall deliver to or on behalf of the Trustee, on behalf
of the Purchaser, on or prior to the Closing Date, the Mortgage Note (as
described in clause (a) below) for each Mortgage Loan and on or prior to the
fifth Business Day after the Closing Date, five limited powers of attorney
substantially in the form attached hereto as Exhibit 5 in favor of the Trustee,
the Master Servicer and the Special Servicer to empower the Trustee and, in the
event of the failure or incapacity of the Trustee, the Master Servicer and the
Special Servicer, to submit for recording, at the expense of the Seller, any
mortgage loan documents required to be recorded as described in the Pooling and
Servicing Agreement and any intervening assignments with evidence of recording
thereon that are required to be included in the Mortgage Files (so long as
original counterparts have previously been delivered to the Trustee). The Seller
agrees to reasonably cooperate with the Trustee, the Master Servicer and the
Special Servicer in connection with any additional powers of attorney or
revisions thereto that are requested by such parties for purposes of such
recordation. The parties hereto agree that no such power of attorney shall be
used with respect to any Mortgage Loan by or under authorization by any party
hereto except to the extent that the absence of a document described in the
second preceding sentence with respect to such Mortgage Loan remains unremedied
as of the earlier of (i) the date that is 180 days following the delivery of
notice of such absence to the related Seller, but in no event earlier than 18
months from the Closing Date, and (ii) the date (if any) on which such Mortgage
Loan becomes a Specially Serviced Mortgage Loan. The Trustee shall submit such
documents, at the Seller's expense, after the periods set forth above, provided,
however, the Trustee shall not submit such assignments for recording if the
Seller produces evidence that it has sent any such assignment for recording and
certifies that the Seller is awaiting its return from the applicable recording
office. In addition, not later than the 30th day following the Closing Date, the
Seller shall deliver to or on behalf of the Trustee each of the remaining
documents or instruments specified below (with such exceptions as are permitted
by this Section) with respect to each Mortgage Loan (each, a "Mortgage File").
(The Seller acknowledges that the term "without recourse" does not modify the
duties of the Seller under Section 5 hereof.)

            All Mortgage Files, or portions thereof, delivered prior to the
Closing Date are to be held by or on behalf of the Trustee in escrow on behalf
of the Seller at all times prior to the Closing Date. The Mortgage Files shall
be released from escrow upon closing of the sale of the Mortgage Loans and
payments of the purchase price therefor as contemplated hereby. The Mortgage
File for each Mortgage Loan shall contain the following documents:

            (a) The original Mortgage Note bearing all intervening endorsements,
endorsed "Pay to the order of LaSalle Bank National Association, as Trustee for
Morgan Stanley Dean Witter Capital I Inc., Commercial Mortgage Pass-Through
Certificates, Series 2002-IQ2, without recourse, representation or warranty" or
if the original Mortgage Note is not included therein, then a lost note
affidavit, with a copy of the Mortgage Note attached thereto;

            (b) The original Mortgage, with evidence of recording thereon, and,
if the Mortgage was executed pursuant to a power of attorney, a certified true
copy of the power of attorney certified by the public recorder's office, with
evidence of recording thereon (if recording is customary in the jurisdiction in
which such power of attorney was executed), or certified by a title insurance
company or escrow company to be a true copy thereof; provided that if such
original Mortgage cannot be delivered with evidence of recording thereon on or
prior to the 45th day following the Closing Date because of a delay caused by
the public recording office where such original Mortgage has been delivered for
recordation or because such original Mortgage has been lost, the Seller shall
deliver or cause to be delivered to the Trustee a true and correct copy of such
Mortgage, together with (i) in the case of a delay caused by the public
recording office, an Officer's Certificate (as defined below) of the Seller
stating that such original Mortgage has been sent to the appropriate public
recording official for recordation or (ii) in the case of an original Mortgage
that has been lost after recordation, a certification by the appropriate county
recording office where such Mortgage is recorded that such copy is a true and
complete copy of the original recorded Mortgage;

            (c) The originals of all agreements modifying a Money Term or other
material modification, consolidation and extension agreements, if any, with
evidence of recording thereon, or if such original modification, consolidation
and extension agreements have been delivered to the appropriate recording office
for recordation and either has not yet been returned on or prior to the 45th day
following the Closing Date with evidence of recordation thereon or has been lost
after recordation, true copies of such modifications, consolidations and
extensions certified by the Seller together with (i) in the case of a delay
caused by the public recording office, an Officer's Certificate of the Seller
stating that such original modification, consolidation or extension agreement
has been dispatched or sent to the appropriate public recording official for
recordation or (ii) in the case of an original modification, consolidation or
extension agreement that has been lost after recordation, a certification by the
appropriate county recording office where such document is recorded that such a
copy is a true and complete copy of the original recorded modification,
consolidation or extension agreement, and the originals of all assumption
agreements, if any;

            (d) An original Assignment of Mortgage for each Mortgage Loan, in
form and substance acceptable for recording, signed by the holder of record in
favor of "LaSalle Bank National Association, as Trustee for Morgan Stanley Dean
Witter Capital I Inc., Commercial Mortgage Pass-Through Certificates, Series
2002-IQ2";

            (e) Originals of all intervening assignments of Mortgage, if any,
with evidence of recording thereon or, if such original assignments of Mortgage
have been delivered to the appropriate recorder's office for recordation,
certified true copies of such assignments of Mortgage certified by the Seller,
or, in the case of an original blanket intervening assignment of Mortgage
retained by the Seller, a copy thereof certified by the Seller or, if any
original intervening assignment of Mortgage has not yet been returned on or
prior to the 45th day following the Closing Date from the applicable recording
office or has been lost, a true and correct copy thereof, together with (i) in
the case of a delay caused by the public recording office, an Officer's
Certificate of the Seller stating that such original intervening assignment of
Mortgage has been sent to the appropriate public recording official for
recordation or (ii) in the case of an original intervening Assignment of
Mortgage that has been lost after recordation, a certification by the
appropriate county recording office where such assignment is recorded that such
copy is a true and complete copy of the original recorded intervening Assignment
of Mortgage;

            (f) If the related Assignment of Leases is separate from the
Mortgage, the original of such Assignment of Leases with evidence of recording
thereon or, if such Assignment of Leases has not been returned on or prior to
the 45th day following the Closing Date from the applicable public recording
office, a copy of such Assignment of Leases certified by the Seller to be a true
and complete copy of the original Assignment of Leases submitted for recording,
together with (i) an original of each assignment of such Assignment of Leases
with evidence of recording thereon and showing a complete recorded chain of
assignment from the named assignee to the holder of record, and if any such
assignment of such Assignment of Leases has not been returned from the
applicable public recording office, a copy of such assignment certified by the
Seller to be a true and complete copy of the original assignment submitted for
recording, and (ii) an original assignment of such Assignment of Leases, in
recordable form, signed by the holder of record in favor of "LaSalle Bank
National Association, as Trustee for Morgan Stanley Dean Witter Capital I Inc.,
Commercial Mortgage Pass-Through Certificates, Series 2002-IQ2," which
assignment may be effected in the related Assignment of Mortgage;

            (g) The original of each guaranty, if any, constituting additional
security for the repayment of such Mortgage Loan;

            (h) The original Title Insurance Policy, or in the event such
original Title Insurance Policy has not been issued, an original binder or
actual title commitment or a copy thereof certified by the title company with
the original Title Insurance Policy to follow within 180 days of the Closing
Date or a preliminary title report with an original Title Insurance Policy to
follow within 180 days of the Closing Date;

            (i) (A) UCC financing statements (together with all assignments
thereof) filed in connection with the Mortgage Loan and (B) UCC-2 or UCC-3
financing statements assigning such UCC financing statements to the Trustee;

            (j) Copies of the related ground lease(s), if any, to any Mortgage
Loan where the Mortgagor is the lessee under such ground lease and there is a
lien in favor of the mortgagee in such lease.

            (k) Copies of any loan agreements, lock-box agreements and
intercreditor agreements, if any, related to any Mortgage Loan;

            (l) Either (A) the original of each letter of credit, if any,
constituting additional collateral for such Mortgage Loan (other than letters of
credit representing tenant security deposits which have been collaterally
assigned to the lender), which shall be assigned and delivered to the Trustee on
behalf of the Trust with a copy to be held by the Primary Servicer (or the
Master Servicer), and applied, drawn, reduced or released in accordance with
documents evidencing or securing the applicable Mortgage Loan, the Pooling and
Servicing Agreement and the applicable Primary Servicing Agreement or (B) the
original of each letter of credit, if any, constituting additional collateral
for such Mortgage Loan (other than letters of credit representing tenant
security deposits which have been collaterally assigned to the lender), which
shall be assigned to and held by the Primary Servicer (or the Master Servicer)
on behalf of the Trustee, with a copy to be held by the Trustee, and applied,
drawn, reduced or released in accordance with documents evidencing or securing
the applicable Mortgage Loan, the Pooling and Servicing Agreement and the
applicable Primary Servicing Agreement (it being understood that the Seller has
agreed (a) that the proceeds of such letter of credit belong to the Trust, (b)
to notify, on or before the Closing Date, the bank issuing the letter of credit
that the letter of credit and the proceeds thereof belong to the Trust, and to
use reasonable efforts to obtain within 30 days (but in any event to obtain
within 90 days) following the Closing Date, an acknowledgement thereof by the
bank (with a copy of such acknowledgement to be sent to the Trustee) and (c) to
indemnify the Trust for any liabilities, charges, costs, fees or other expenses
accruing from the failure of the Seller to assign the letter of credit
hereunder). In the case of clause (B) above, any letter of credit held by the
Primary Servicer (or Master Servicer) shall be held in its capacity as agent of
the Trust, and if a Primary Servicer (or Master Servicer) sells its rights to
service the applicable Mortgage Loan, the applicable Primary Servicer (or Master
Servicer) has agreed to assign the applicable letter of credit to the Trust or
at the direction of the Special Servicer to such party as the Special Servicer
may instruct, in each case, at the expense of the Primary Servicer (or Master
Servicer). The Primary Servicer (or Master Servicer) has agreed to indemnify the
Trust for any loss caused by the ineffectiveness of such assignment;

            (m) The original environmental indemnity agreement, if any, related
to any Mortgage Loan;

            (n) Third-party management agreements, if any, for hotels and
mortgage properties with a Cut-Off Date balance equal to or greater than
$20,000,000;

            (o) Any Environmental Insurance Policy; and

            (p) Any indemnification agreement in favor of the lender.

            "Officer's Certificate" shall mean a certificate signed by one or
more of the Chairman of the Board, any Vice Chairman, the President, any
Managing Director, any Executive Vice President, any Director, any Senior Vice
President, any Vice President, any Assistant Vice President, any Treasurer, any
Assistant Treasurer, any Secretary or Assistant Secretary.

            The Assignments of Mortgage and assignment of Assignment of Leases
referred to in clauses (d), (e) and (f) may be in the form of a single
instrument assigning the Mortgage and the Assignment of Leases to the extent
permitted by applicable law. To avoid the unnecessary expense and administrative
inconvenience associated with the execution and recording or filing of multiple
assignments of mortgages, assignments of leases (to the extent separate from the
mortgages) and assignments of UCC financing statements, the Seller shall
execute, in accordance with the third succeeding paragraph, the assignments of
mortgages, the assignments of leases (to the extent separate from the mortgages)
and assignments of UCC financing statements relating to the Mortgage Loans
naming the Trustee on behalf of the Certificateholders as assignee.
Notwithstanding the fact that such assignments of mortgages, assignments of
leases (to the extent separate from the assignments of mortgages) and the
assignments of UCC financing statements shall name the Trustee on behalf of the
Certificateholders as the assignee, the parties hereto acknowledge and agree
that the Mortgage Loans shall for all purposes be deemed to have been
transferred from the Seller to the Purchaser and from the Purchaser to the
Trustee on behalf of the Certificateholders.

            If the Seller cannot deliver, or cause to be delivered, as to any
Mortgage Loan, any of the documents and/or instruments referred to in clauses
(b), (c), (e) or (f), with evidence of recording thereon, solely because of a
delay caused by the public recording office where such document or instrument
has been delivered for recordation within such 45 day period, but the Seller
delivers a true and correct copy thereof, to the Trustee as required by such
clause, the Seller shall then deliver promptly upon receipt from the appropriate
county recorder's office such original or photocopy.

            The Trustee, as assignee or transferee of the Purchaser, shall be
entitled to all scheduled payments of principal due on the Mortgage Loan after
the Cut-Off Date, all other payments of principal collected after the Cut-Off
Date (other than scheduled payments of principal due on or before the Cut-Off
Date), and all payments of interest on the Mortgage Loans allocable to the
period commencing on the Cut-Off Date. All scheduled payments of principal and
interest due on or before the Cut-Off Date and collected after the Cut-Off Date
shall belong to the Seller.

            Within 45 days following the Closing Date, the Seller shall deliver
and the Purchaser, the Trustee or the agents of either may submit or cause to be
submitted for recordation at the expense of the Seller, in the appropriate
public office for real property records, each assignment referred to in clauses
(d) and (f)(ii) above. Within 45 days following the Closing Date, the Seller
shall deliver and the Purchaser, the Trustee or the agents of either may submit
or cause to be submitted for filing, at the expense of the Seller, in the
appropriate public office for Uniform Commercial Code financing statements, the
assignment referred to in clause (i)(B) above. If any such document or
instrument is lost or returned unrecorded or unfiled, as the case may be,
because of a defect therein, the Seller shall prepare a substitute therefor or
cure such defect, and the Seller shall, at its own expense (except in the case
of a document or instrument that is lost by the Trustee), record or file, as the
case may be, and deliver such document or instrument in accordance with this
Section 2.

            Documents that are in the possession of the Seller, its agents or
its subcontractors that relate to the Mortgage Loans and that are not required
to be delivered to the Trustee shall be delivered by the Seller to the Master
Servicer or the applicable Primary Servicer or Sub-Servicer, on its behalf, on
or prior to the 45th day after the Closing Date.

            The documents required to be delivered to or on the behalf of the
Master Servicer shall consist of, to the extent required to be (and actually)
delivered to the Seller pursuant to the applicable Mortgage Loan documents,
copies of the following items: the Mortgage Note, any Mortgage, the Assignment
of Leases and the Assignment of Mortgage, any guaranty/indemnity agreement, any
loan agreement, the insurance policies or certificates, as applicable, the
property inspection reports, any financial statements on the property, any
escrow analysis, the tax bills, the Appraisal, the environmental report, the
engineering report, the asset summary, financial information on the
Borrower/sponsor and any guarantors, any letters of credit, any intercreditor
agreement and any Environmental Insurance Policies. Each of the foregoing items
shall be delivered in electronic form, to the extent such document is available
in such form and such form is reasonably acceptable to the Master Servicer. All
of the foregoing items shall be delivered no later than 45 days following the
Closing Date.

            Upon the sale of the Mortgage Loans by the Seller to the Purchaser
pursuant to this Agreement, the ownership of each Mortgage Note, Mortgage and
the other contents of the related Mortgage File shall be vested in the Purchaser
and its assigns, and the ownership of all records and documents with respect to
the related Mortgage Loan prepared by or that come into the possession of the
Seller shall immediately vest in the Purchaser and its assigns, and shall be
delivered promptly by the Seller to or on behalf of either the Trustee or the
Master Servicer as set forth herein. The Seller's and Purchaser's records shall
reflect the transfer of each Mortgage Loan from the Seller to the Purchaser and
its assigns as a sale.

            It is the express intent of the parties hereto that the conveyance
of the Mortgage Loans and related property to the Purchaser by the Seller as
provided in this Section 2 be, and be construed as, an absolute sale of the
Mortgage Loans and related property. It is, further, not the intention of the
parties that such conveyance be deemed a pledge of the Mortgage Loans and
related property by the Seller to the Purchaser to secure a debt or other
obligation of the Seller. However, in the event that, notwithstanding the intent
of the parties, the Mortgage Loans or any related property is held to be the
property of the Seller, or if for any other reason this Agreement is held or
deemed to create a security interest in the Mortgage Loans or any related
property, then:

      (i) this Agreement shall be deemed to be a security agreement; and

      (ii) the conveyance provided for in this Section 2 shall be deemed to be a
grant by the Seller to the Purchaser of a security interest in all of the
Seller's right, title, and interest, whether now owned or hereafter acquired, in
and to:

            (A) All accounts, general intangibles, chattel paper, instruments,
      documents, money, deposit accounts, certificates of deposit, goods,
      letters of credit, advices of credit and investment property consisting
      of, arising from or relating to any of the following property: the
      Mortgage Loans identified on the Mortgage Loan Schedule, including the
      related Mortgage Notes, Mortgages, security agreements, and title, hazard
      and other insurance policies, all distributions with respect thereto
      described as belonging to the Purchaser in the sixth paragraph of this
      Section 2, all substitute or replacement Mortgage Loans and all
      distributions with respect thereto, and the Mortgage Files;

            (B) All accounts, general intangibles, chattel paper, instruments,
      documents, money, deposit accounts, certificates of deposit, goods,
      letters of credit, advices of credit, investment property and other rights
      arising from or by virtue of the disposition of, or collections with
      respect to, or insurance proceeds payable with respect to, or claims
      against other Persons with respect to, all or any part of the collateral
      described in clause (A) above (including any accrued discount realized on
      liquidation of any investment purchased at a discount); and

            (C) All cash and non-cash proceeds of the collateral described in
      clauses (A) and (B) above.

            The possession by the Purchaser or its designee of the Mortgage
Notes, the Mortgages, and such other goods, letters of credit, advices of
credit, instruments, money, documents, chattel paper or certificated securities
shall be deemed to be possession by the secured party or possession by a
purchaser for purposes of perfecting the security interest pursuant to the
Uniform Commercial Code (including, without limitation, Sections 9-305 and 9-115
thereof) as in force in the relevant jurisdiction. Notwithstanding the
foregoing, the Seller makes no representation or warranty as to the perfection
of any such security interest.

            Notifications to Persons holding such property, and acknowledgments,
receipts, or confirmations from persons holding such property, shall be deemed
to be notifications to, or acknowledgments, receipts or confirmations from,
securities intermediaries, bailees or agents of, or Persons holding for, the
Purchaser or its designee, as applicable, for the purpose of perfecting such
security interest under applicable law.

            The Seller shall, to the extent consistent with this Agreement, take
such reasonable actions as may be necessary to ensure that, if this Agreement
were deemed to create a security interest in the property described above, such
security interest would be deemed to be a perfected security interest of first
priority under applicable law and will be maintained as such throughout the term
of the Agreement. In such case, the Seller shall file all filings necessary to
maintain the effectiveness of any original filings necessary under the Uniform
Commercial Code as in effect in any jurisdiction to perfect such security
interest in such property. In connection herewith, the Purchaser shall have all
of the rights and remedies of a secured party and creditor under the Uniform
Commercial Code as in force in the relevant jurisdiction.

            Notwithstanding anything to the contrary contained herein, and
subject to Section 2(a), the Purchaser shall not be required to purchase any
Mortgage Loan as to which any Mortgage Note (endorsed as described in clause (a)
above) or lost note affidavit and indemnity required to be delivered to or on
behalf of the Trustee or the Master Servicer pursuant to this Section 2 on or
before the Closing Date is not so delivered, or is not properly executed or is
defective on its face, and the Purchaser's acceptance of the related Mortgage
Loan on the Closing Date shall in no way constitute a waiver of such omission or
defect or of the Purchaser's or its successors' and assigns' rights in respect
thereof pursuant to Section 5.

            Section 3. Examination of Mortgage Files and Due Diligence Review.
The Seller shall (i) deliver to the Purchaser on or before the Closing Date a
diskette acceptable to the Purchaser that contains such information about the
Mortgage Loans as may be reasonably requested by the Purchaser, (ii) deliver to
the Purchaser investor files (collectively the "Collateral Information") with
respect to the assets proposed to be included in the Mortgage Pool and made
available at the Purchaser's headquarters in New York, and (iii) otherwise
cooperate fully with the Purchaser in its examination of the credit files,
underwriting documentation and Mortgage Files for the Mortgage Loans and its due
diligence review of the Mortgage Loans. The fact that the Purchaser has
conducted or has failed to conduct any partial or complete examination of the
credit files, underwriting documentation or Mortgage Files for the Mortgage
Loans shall not affect the right of the Purchaser or the Trustee to cause the
Seller to cure any Material Document Defect or Material Breach (each as defined
below), or to repurchase or replace the defective Mortgage Loans pursuant to
Section 5 of this Agreement.

            On or prior to the Closing Date, the Seller shall allow
representatives of any of the Purchaser, each Underwriter, each Initial
Purchaser, the Trustee, the Special Servicer and each Rating Agency to examine
and audit all books, records and files pertaining to the Mortgage Loans, the
Seller's underwriting procedures and the Seller's ability to perform or observe
all of the terms, covenants and conditions of this Agreement. Such examinations
and audits shall take place at one or more offices of the Seller upon reasonable
prior advance notice during normal business hours and shall not be conducted in
a manner that is disruptive to the Seller's normal business operations. In the
course of such examinations and audits, the Seller will make available to such
representatives of any of the Purchaser, each Underwriter, each Initial
Purchaser, the Trustee, the Special Servicer and each Rating Agency reasonably
adequate facilities, as well as the assistance of a sufficient number of
knowledgeable and responsible individuals who are familiar with the Mortgage
Loans and the terms of this Agreement, and the Seller shall cooperate fully with
any such examination and audit in all material respects. On or prior to the
Closing Date, the Seller shall provide the Purchaser with all material
information regarding the Seller's financial condition and access to
knowledgeable financial or accounting officers for the purpose of answering
questions with respect to the Seller's financial condition, financial statements
as provided to the Purchaser or other developments affecting the Seller's
ability to consummate the transactions contemplated hereby or otherwise
affecting the Seller in any material respect. Within 45 days after the Closing
Date, the Seller shall provide the Master Servicer or Primary Servicer, if
applicable, with any additional information identified by the Master Servicer or
Primary Servicer, if applicable, as necessary to complete the CMSA Property
File, to the extent that such information is available.

            The Purchaser may exercise any of its rights hereunder through one
or more designees or agents; provided the Purchaser has provided the Seller with
prior notice of the identity of such designee or agent.

            The Purchaser shall keep confidential any information regarding the
Seller and the Mortgage Loans that has been delivered into the Purchaser's
possession and that is not otherwise publicly available; provided, however, that
such information shall not be kept confidential (and the right to require
confidentiality under any confidentiality agreement is hereby waived) to the
extent such information is required to be included in the Memorandum or the
Prospectus Supplement or the Purchaser is required by law or court order to
disclose such information. If the Purchaser is required to disclose in the
Memorandum or the Prospectus Supplement confidential information regarding the
Seller as described in the preceding sentence, the Purchaser shall provide to
the Seller a copy of the proposed form of such disclosure prior to making such
disclosure and the Seller shall promptly, and in any event within two Business
Days, notify the Purchaser of any inaccuracies therein, in which case the
Purchaser shall modify such form in a manner that corrects such inaccuracies. If
the Purchaser is required by law or court order to disclose confidential
information regarding the Seller as described in the second preceding sentence,
the Purchaser shall notify the Seller and cooperate in the Seller's efforts to
obtain a protective order or other reasonable assurance that confidential
treatment will be accorded such information and, if in the absence of a
protective order or such assurance, the Purchaser is compelled as a matter of
law to disclose such information, the Purchaser shall, prior to making such
disclosure, advise and consult with the Seller and its counsel as to such
disclosure and the nature and wording of such disclosure and the Purchaser shall
use reasonable efforts to obtain confidential treatment therefor.
Notwithstanding the foregoing, if reasonably advised by counsel that the
Purchaser is required by a regulatory agency or court order to make such
disclosure immediately, then the Purchaser shall be permitted to make such
disclosure without prior review by the Seller.

            Section 4. Representations and Warranties of the Seller and the
Purchaser.

            (a) To induce the Purchaser to enter into this Agreement, the Seller
hereby makes for the benefit of the Purchaser and its assigns with respect to
each Mortgage Loan as of the date hereof (or as of such other date specifically
set forth in the particular representation and warranty) each of the
representations and warranties set forth on Exhibit 2 hereto, except as
otherwise set forth on Schedule A attached hereto, and hereby further represents
and warrants to the Purchaser as of the date hereof that:

            (i) The Seller is duly organized and is validly existing as an
      insurance company in good standing under the laws of the State of
      Illinois. The Seller has the requisite power and authority and legal right
      to own the Mortgage Loans and to transfer and convey the Mortgage Loans to
      the Purchaser and has the requisite power and authority to execute and
      deliver, engage in the transactions contemplated by, and perform and
      observe the terms and conditions of, this Agreement.

            (ii) This Agreement has been duly and validly authorized, executed
      and delivered by the Seller, and assuming the due authorization, execution
      and delivery hereof by the Purchaser, this Agreement constitutes the
      valid, legal and binding agreement of the Seller, enforceable in
      accordance with its terms, except as such enforcement may be limited by
      (A) laws relating to bankruptcy, insolvency, reorganization, receivership
      or moratorium, (B) other laws relating to or affecting the rights of
      creditors generally, (C) general equity principles (regardless of whether
      such enforcement is considered in a proceeding in equity or at law) or (D)
      public policy considerations underlying the securities laws, to the extent
      that such public policy considerations limit the enforceability of the
      provisions of this Agreement that purport to provide indemnification from
      liabilities under applicable securities laws.

            (iii) No consent, approval, authorization or order of, registration
      or filing with, or notice to, any governmental authority or court is
      required, under federal or state law, for the execution, delivery and
      performance of or compliance by the Seller with this Agreement, or the
      consummation by the Seller of any transaction contemplated hereby, other
      than (1) such qualifications as may be required under state securities or
      blue sky laws, (2) the filing or recording of financing statements,
      instruments of assignment and other similar documents necessary in
      connection with the Seller's sale of the Mortgage Loans to the Purchaser,
      (3) such consents, approvals, authorizations, qualifications,
      registrations, filings or notices as have been obtained and (4) where the
      lack of such consent, approval, authorization, qualification,
      registration, filing or notice would not have a material adverse effect on
      the performance by the Seller under this Agreement.

            (iv) Neither the transfer of the Mortgage Loans to the Purchaser,
      nor the execution, delivery or performance of this Agreement by the
      Seller, conflicts or will conflict with, results or will result in a
      breach of, or constitutes or will constitute a default under (A) any term
      or provision of the Seller's articles of organization or by-laws, (B) any
      term or provision of any material agreement, contract, instrument or
      indenture to which the Seller is a party or by which it or any of its
      assets is bound or results in the creation or imposition of any lien,
      charge or encumbrance upon any of its property pursuant to the terms of
      any such indenture, mortgage, contract or other instrument, other than
      pursuant to this Agreement, or (C) after giving effect to the consents or
      taking of the actions contemplated in subsection (iii), any law, rule,
      regulation, order, judgment, writ, injunction or decree of any court or
      governmental authority having jurisdiction over the Seller or its assets,
      except where in any of the instances contemplated by clauses (B) or (C)
      above, any conflict, breach or default, or creation or imposition of any
      lien, charge or encumbrance, will not have a material adverse effect on
      the consummation of the transactions contemplated hereby by the Seller or
      materially and adversely affects its ability to perform its obligations
      and duties hereunder or result in any material adverse change in the
      business, operations, financial condition, properties or assets of the
      Seller, or in any material impairment of the right or ability of the
      Seller to carry on its business substantially as now conducted.

            (v) There are no actions or proceedings against, or investigations
      of, the Seller pending or, to the Seller's knowledge, threatened in
      writing against the Seller before any court, administrative agency or
      other tribunal, the outcome of which could reasonably be expected to
      materially and adversely affect the transfer of the Mortgage Loans to the
      Purchaser or the execution or delivery by, or enforceability against, the
      Seller of this Agreement or have an effect on the financial condition of
      the Seller that would materially and adversely affect the ability of the
      Seller to perform its obligations under this Agreement.

            (vi) On the Closing Date, the sale of the Mortgage Loans pursuant to
      this Agreement will effect a transfer by the Seller of all of its right,
      title and interest in and to the Mortgage Loans to the Purchaser (assuming
      the Purchaser has the capacity to acquire such Mortgage Loans).

            (vii) To the Seller's knowledge, the Seller's Information (as
      defined in that certain indemnification agreement, dated June 1, 2002,
      between the Seller, the Purchaser, the Underwriters and the Initial
      Purchaser (the "Indemnification Agreement")) relating to the Mortgage
      Loans does not contain any untrue statement of a material fact or omit to
      state a material fact necessary to make the statements therein, in the
      light of the circumstances under which they were made, not misleading.
      Notwithstanding anything contained herein to the contrary, this
      subparagraph (vii) shall run exclusively to the benefit of the Purchaser
      and no other party.

            To induce the Purchaser to enter into this Agreement, the Seller
hereby covenants that the foregoing representations and warranties and those set
forth on Exhibit 2 hereto will be true and correct in all material respects on
and as of the Closing Date with the same effect as if made on the Closing Date
(or as of such other date specifically set forth in the particular
representation and warranty).

            Each of the representations, warranties and covenants made by the
Seller pursuant to this Section 4(a) shall survive the sale of the Mortgage
Loans and shall continue in full force and effect notwithstanding any
restrictive or qualified endorsement on the Mortgage Notes.

            (b) To induce the Seller to enter into this Agreement, the Purchaser
hereby represents and warrants to the Seller as of the date hereof:

            (i) The Purchaser is a corporation duly organized, validly existing,
      and in good standing under the laws of the State of Delaware with full
      power and authority to carry on its business as presently conducted by it.

            (ii) The Purchaser has full power and authority to acquire the
      Mortgage Loans, to execute and deliver this Agreement and to enter into
      and consummate all transactions contemplated by this Agreement. The
      Purchaser has duly and validly authorized the execution, delivery and
      performance of this Agreement and has duly and validly executed and
      delivered this Agreement. This Agreement, assuming due authorization,
      execution and delivery by the Seller, constitutes the valid and binding
      obligation of the Purchaser, enforceable against it in accordance with its
      terms, except as such enforceability may be limited by bankruptcy,
      insolvency, reorganization, moratorium and other similar laws affecting
      the enforcement of creditors' rights generally and by general principles
      of equity, regardless of whether such enforcement is considered in a
      proceeding in equity or at law.

            (iii) No consent, approval, authorization or order of, registration
      or filing with, or notice to, any governmental authority or court is
      required, under federal or state law, for the execution, delivery and
      performance of or compliance by the Purchaser with this Agreement, or the
      consummation by the Purchaser of any transaction contemplated hereby that
      has not been obtained or made by the Purchaser.

            (iv) Neither the purchase of the Mortgage Loans nor the execution,
      delivery and performance of this Agreement by the Purchaser will violate
      the Purchaser's certificate of incorporation or by-laws or constitute a
      default (or an event that, with notice or lapse of time or both, would
      constitute a default) under, or result in a breach of, any material
      agreement, contract, instrument or indenture to which the Purchaser is a
      party or that may be applicable to the Purchaser or its assets.

            (v) The Purchaser's execution and delivery of this Agreement and its
      performance and compliance with the terms of this Agreement will not
      constitute a violation of, any law, rule, writ, injunction, order or
      decree of any court, or order or regulation of any federal, state or
      municipal government agency having jurisdiction over the Purchaser or its
      assets, which violation could materially and adversely affect the
      condition (financial or otherwise) or the operation of the Purchaser or
      its assets or could materially and adversely affect its ability to perform
      its obligations and duties hereunder.

            (vi) There are no actions or proceedings against, or investigations
      of, the Purchaser pending or, to the Purchaser's knowledge, threatened
      against the Purchaser before any court, administrative agency or other
      tribunal, the outcome of which could reasonably be expected to adversely
      affect the transfer of the Mortgage Loans, the issuance of the
      Certificates, the execution, delivery or enforceability of this Agreement
      or have an effect on the financial condition of the Purchaser that would
      materially and adversely affect the ability of the Purchaser to perform
      its obligation under this Agreement.

            (vii) The Purchaser has not dealt with any broker, investment
      banker, agent or other person, other than the Seller, the Underwriters,
      the Initial Purchaser and their respective affiliates, that may be
      entitled to any commission or compensation in connection with the sale of
      the Mortgage Loans or consummation of any of the transactions contemplated
      hereby.

            To induce the Seller to enter into this Agreement, the Purchaser
hereby covenants that the foregoing representations and warranties will be true
and correct in all material respects on and as of the Closing Date with the same
effect as if made on the Closing Date.

            Each of the representations and warranties made by the Purchaser
pursuant to this Section 4(b) shall survive the purchase of the Mortgage Loans.

            Section 5. Remedies Upon Breach of Representations and Warranties
Made by the Seller.

            (a) It is hereby acknowledged that the Purchaser shall assign its
rights under this Section 5 to Trustee on behalf of the holders of the
Certificates.

            (b) It is hereby further acknowledged that if any document required
to be delivered to the Trustee pursuant to Section 2 is not delivered as and
when required, not properly executed or is defective on its face, or if there is
a breach of any of the representations and warranties required to be made by the
Seller regarding the characteristics of the Mortgage Loans and/or the related
Mortgaged Properties as set forth in Exhibit 2 hereto, and in either case such
defect or breach, either (i) materially and adversely affects the interests of
the holders of the Certificates in the related Mortgage Loan, or (ii) both (A)
materially and adversely affects the value of the Mortgage Loan and (B) the
Mortgage Loan is a Specially Serviced Mortgage Loan or Rehabilitated Mortgage
Loan (such a document defect described in the preceding clause (i) or (ii), a
"Material Document Defect" and such a breach described in the preceding clause
(i) or (ii) a "Material Breach"), the party discovering such Material Document
Defect or Material Breach shall promptly notify the other parties in writing.
Promptly (but in any event within three Business Days) upon becoming aware of
any such Material Document Defect or Material Breach, the Master Servicer shall,
and the Special Servicer may, request that the Seller, not later than 90 days
from the Seller's receipt of the notice of such Material Document Defect or
Material Breach, cure such Material Document Defect or Material Breach, as the
case may be, in all material respects; provided, however, that if such Material
Document Defect or Material Breach, as the case may be, cannot be corrected or
cured in all material respects within such 90-day period, and such Material
Document Defect or Material Breach would not cause the Mortgage Loan to be other
than a "qualified mortgage" (as defined in the Code) but the Seller is
diligently attempting to effect such correction or cure, as certified by the
Seller in an Officer's Certificate delivered to the Trustee, then the cure
period will be extended for an additional 90 days unless, solely in the case of
a Material Document Defect, (x) the Mortgage Loan is then a Specially Serviced
Mortgage Loan and a Servicing Transfer Event has occurred as a result of a
monetary default or as described in clause (ii) or clause (v) of the definition
of "Servicing Transfer Event" in the Pooling and Servicing Agreement and (y) the
Material Document Defect was identified in a certification delivered to the
Seller by the Trustee pursuant to Section 2.2 of the Pooling and Servicing
Agreement not less than 90 days prior to the delivery of the notice of such
Material Document Defect. The parties acknowledge that neither delivery of a
certification or schedule of exceptions to the Seller pursuant to Section 2.2 of
the Pooling and Servicing Agreement or otherwise nor possession of such
certification or schedule by the Seller shall, in and of itself, constitute
delivery of notice of any Material Document Defect or knowledge or awareness by
the Seller of any Material Document Defect listed therein. It is understood and
agreed that the 90-day limit will not be violated as a result of recording
office or UCC filing office delays, other than with respect to a Material
Document Defect or Material Breach that would cause the Mortgage Loan to be
other than a "qualified mortgage" (as defined in the Code). In addition,
following the date on which such document is required to be delivered pursuant
to Section 2, any of the following document defects shall be conclusively
presumed to materially and adversely to affect the interests of holders of the
Certificates in the related Mortgage Loan and be a Material Document Defect: (a)
the absence from the Mortgage File of the original signed Mortgage Note, unless
the Mortgage File contains a signed lost note affidavit and indemnity; (b) the
absence from the Mortgage File of the original signed Mortgage, unless there is
included in the Mortgage File a true and correct copy of the Mortgage together
with an Officer's Certificate or certification as required by Section 2(b); or
(c) the absence from the Mortgage File of the original Title Insurance Policy or
an original binder as required by Section 2(h). If any of the foregoing Material
Document Defects are discovered by any party to the Pooling and Servicing
Agreement, the Trustee (or as set forth in the Pooling and Servicing Agreement,
the Master Servicer) will, among other things, give notice to the Rating
Agencies and the parties to the Pooling and Servicing Agreement and make demand
upon the Seller for the cure of the document defect or repurchase or replacement
of the related Mortgage Loan.

            The Seller hereby covenants and agrees that, if any such Material
Document Defect or Material Breach cannot be corrected or cured within the above
cure periods, the related Seller shall, on or before the termination of such
cure periods, either (i) repurchase the related Mortgage Loan or REO Mortgage
Loan from the Purchaser or its assignee at the Purchase Price as defined in the
Pooling and Servicing Agreement, or (ii) if within the two-year period
commencing on the Closing Date at its option replace any Mortgage Loan or REO
Mortgage Loan to which such defect relates with a Qualifying Substitute Mortgage
Loan. If such Material Document Defect or Material Breach would cause the
Mortgage Loan to be other than a "qualified mortgage" (as defined in the Code),
then notwithstanding the previous sentence, repurchase or substitution must
occur within 90 days from the earlier of the date the Seller discovered or was
notified of the defect or breach. The Seller agrees that any such substitution
shall be completed in accordance with the terms and conditions of the Pooling
and Servicing Agreement.

            If (i) a Mortgage Loan is to be repurchased or replaced as
contemplated above, (ii) such Mortgage Loan is cross-collateralized and
cross-defaulted with one or more other Mortgage Loans in the Trust and (iii) the
applicable document defect or breach does not constitute a Material Document
Defect or Material Breach, as the case may be, as to such other Mortgage Loans
(without regard to this paragraph), then the applicable document defect or
breach (as the case may be) shall be deemed to constitute a Material Document
Defect or Material Breach, as the case may be, as to each such other Mortgage
Loan for purposes of the above provisions, and the Seller shall be obligated to
repurchase or replace each such other Mortgage Loan in accordance with the
provisions above, unless, in the case of such breach or document defect, both of
the following conditions would be satisfied if the Seller were to repurchase or
replace only those Mortgage Loans as to which a Material Breach had occurred
without regard to this paragraph (the "Affected Loan(s)"): (1) the debt service
coverage ratio for all such other Mortgage Loans (excluding the Affected
Loan(s)) for the four calendar quarters immediately preceding the repurchase or
replacement is not less than 0.10x below the lesser of (x) the debt service
coverage ratio for all such Mortgage Loans (including the Affected Loans(s)) set
forth in Appendix II to the Final Prospectus Supplement and (y) the debt service
coverage ratio for all such other Mortgage Loans that are cross-collateralized
and cross-defaulted with one another (including the Affected Loan(s)) for the
four preceding calendar quarters preceding the repurchase or replacement, and
(2) the loan-to-value ratio for all such other Mortgage Loans (excluding the
Affected Loan(s)) is not greater than 10% more than the greater of (x) the
loan-to-value ratio for all such Mortgage Loans (including the Affected Loan(s))
set forth in Appendix II to the Final Prospectus Supplement and (y) the
loan-to-value ratio for all such Mortgage Loans that are cross-collateralized
and cross-defaulted with one another (including the Affected Loans(s)). The
determination of the Master Servicer as to whether either of the conditions set
forth above has been satisfied shall be conclusive and binding in the absence of
manifest error. The Master Servicer will be entitled to, or direct the Seller
to, cause to be delivered to the Master Servicer at the Seller's expense an
Appraisal of any or all of the related Mortgaged Properties for purposes of
determining whether the condition set forth in clause (2) above has been
satisfied, in each case at the expense of the Seller if the scope and cost of
the Appraisal is approved by the Seller (such approval not to be unreasonably
withheld).

            With respect to any Mortgage Loan that is cross-defaulted and/or
cross-collateralized with any other Mortgage Loan conveyed hereunder, to the
extent that the Seller is required to repurchase or substitute for such Mortgage
Loan (each, a "Repurchased Loan") in the manner prescribed above while the
Trustee (as assignee of the Purchaser) continues to hold any other Mortgage Loan
that is cross-collateralized and/or cross-defaulted (each, a
"Cross-Collateralized Loan") with such Repurchased Mortgage Loan, the Seller and
the Purchaser hereby agree to forbear from enforcing any remedies against the
other's Primary Collateral but may exercise remedies against the Primary
Collateral securing their respective Mortgage Loans, including with respect to
the Trustee, the Primary Collateral securing the Mortgage Loans still held by
the Trustee, so long as such exercise does not impair the ability of the other
party to exercise its remedies against its Primary Collateral. If the exercise
of remedies by one party would impair the ability of the other party to exercise
its remedies with respect to the Primary Collateral securing the Mortgage Loan
or Mortgage Loans held by such party, then both parties shall forbear from
exercising such remedies until the loan documents evidencing and securing the
relevant Mortgage Loans can be modified in a manner that complies with the
Pooling and Servicing Agreement to remove the threat of impairment as a result
of the exercise of remedies. Any reserve or other cash collateral or letters of
credit securing the Cross-Collateralized Loans shall be allocated between such
Mortgage Loans in accordance with the Mortgage Loan documents, or otherwise on a
pro rata basis based upon their outstanding Principal Balances. All other terms
of the Mortgage Loans shall remain in full force and effect, without any
modification thereof. The Mortgagors set forth on Schedule B hereto are intended
third-party beneficiaries of the provisions set forth in this paragraph and the
preceding paragraph. The provisions of this paragraph and the preceding
paragraph may not be modified with respect to any Mortgage Loan without the
related Mortgagor's consent.

            The Seller shall be notified promptly and in writing by (i) the
Trustee of any notice that it receives that an Option Holder intends to exercise
its Option to purchase the Mortgage Loan in accordance with and as described in
Section 9.36 of the Pooling and Servicing Agreement and (ii) the Special
Servicer of any offer that it receives to purchase the applicable REO Property,
each in connection with such liquidation. Upon the receipt of such notice by the
Seller, the Seller shall then have the right to repurchase the related Mortgage
Loan or REO Property, as applicable, from the Trust at a purchase price equal
to, in the case of clause (i) of the immediately preceding sentence, the Option
Purchase Price or, in the case of clause (ii) of the immediately preceding
sentence, the amount of such offer. Notwithstanding anything to the contrary
contained in this Agreement or in the Pooling and Servicing Agreement, the right
of any Option Holder to purchase such Mortgage Loan shall be subject and
subordinate to the Seller's right to purchase such Mortgage Loan as described in
the immediately preceding sentence. The Seller shall have five (5) Business Days
with respect to the purchase of such Mortgage Loan or REO Property to notify the
Trustee or Special Servicer, as applicable, of its intent to so purchase the
Mortgage Loan or related REO Property from the date that it was notified of such
intention to exercise such Option or of such offer. The Special Servicer shall
be obligated to provide the Seller with any appraisal or other third party
reports relating to the Mortgaged Property within its possession to enable the
Seller to evaluate the Mortgage Loan or REO Property. Any sale of the Mortgage
Loan, or foreclosure upon such Mortgage Loan and sale of the REO Property, to a
Person other than the Seller shall be without (i) recourse of any kind (either
expressed or implied) by such Person against the Seller and (ii) representation
or warranty of any kind (either expressed or implied) by the Seller to or for
the benefit of such person.

            The obligations of the Seller set forth in this Section 5(b) to cure
a Material Document Defect or a Material Breach or repurchase or replace a
defective Mortgage Loan constitute the sole remedies of the Purchaser or its
assignees with respect to a Material Document Defect or Material Breach in
respect of an outstanding Mortgage Loan; provided, that this limitation shall
not in any way limit the Purchaser's rights or remedies upon breach of any other
representation or warranty or covenant by the Seller set forth in this Agreement
(other than those set forth in Exhibit 2).

            Notwithstanding the foregoing, in the event that there is a breach
of the representation and warranty set forth in paragraph 43 of Exhibit 2
attached hereto and, as a result, the payments by a Mortgagor of reasonable
costs and expenses associated with the defeasance or assumption of a Mortgage
Loan are insufficient causing the Trust to incur any Additional Trust Expense,
the Seller hereby covenants and agrees to reimburse the Trust in an amount
sufficient to avoid such Additional Trust Expense. The parties hereto
acknowledge that such reimbursement shall be the Seller's sole obligation with
respect to the breach discussed in the previous sentence.

            (c) The Pooling and Servicing Agreement shall provide that the
Trustee (or the Master Servicer or the Special Servicer on its behalf) shall
give written notice within three Business Days to the Seller of its discovery of
any Material Document Defect or Material Breach and prompt written notice to the
Seller in the event that any Mortgage Loan becomes a Specially Serviced Mortgage
Loan (as defined in the Pooling and Servicing Agreement).

            (d) If the Seller repurchases any Mortgage Loan pursuant to this
Section 5, the Purchaser or its assignee, following receipt by the Trustee of
the Purchase Price therefor, promptly shall deliver or cause to be delivered to
the Seller all Mortgage Loan documents with respect to such Mortgage Loan
(including, without limitation, all documents delivered by Seller pursuant to
Section 2 of this Agreement), and each document that constitutes a part of the
Mortgage File that was endorsed or assigned to the Trustee shall be endorsed and
assigned to the Seller in the same manner such that the Seller shall be vested
with legal and beneficial title to such Mortgage Loan, in each case without
recourse, representation, or warranty, including any property acquired in
respect of such Mortgage Loan or proceeds of any insurance policies with respect
thereto.

            Section 6. Closing. The closing of the sale of the Mortgage Loans
shall be held at the offices of Cadwalader, Wickersham & Taft, 100 Maiden Lane,
New York, NY 10038 at 9:00 a.m., New York time, on the Closing Date.

            The closing shall be subject to each of the following conditions:

            (a) All of the representations and warranties of the Seller and the
Purchaser specified in Section 4 of this Agreement (including, without
limitation, the representations and warranties set forth on Exhibit 2 to this
Agreement) shall be true and correct as of the Closing Date (or as of such other
date specifically set forth in the particular representation and warranty) (to
the extent of the standard, if any, set forth in each representation and
warranty).

            (b) All Closing Documents specified in Section 7 of this Agreement,
in such forms as are agreed upon and reasonably acceptable to the Seller or the
Purchaser, as applicable, shall be duly executed and delivered by all
signatories as required pursuant to the respective terms thereof.

            (c) The Seller shall have delivered and released to the Purchaser or
its designee all documents required to be delivered to the Purchaser as of the
Closing Date pursuant to Section 2 of this Agreement.

            (d) The result of the examination and audit performed by the
Purchaser and its affiliates pursuant to Section 3 hereof shall be satisfactory
to the Purchaser and its affiliates in their sole determination and the parties
shall have agreed to the form and contents of the Seller's Information to be
disclosed in the Memorandum and the Prospectus Supplement.

            (e) All other terms and conditions of this Agreement required to be
complied with on or before the Closing Date shall have been complied with, and
the Seller and the Purchaser shall have the ability to comply with all terms and
conditions and perform all duties and obligations required to be complied with
or performed after the Closing Date.

            (f) The Seller shall have paid all fees and expenses payable by it
to the Purchaser pursuant to Section 8 hereof.

            (g) The Certificates to be so rated shall have been assigned ratings
by each Rating Agency no lower than the ratings specified for each such Class in
the Memorandum and the Prospectus Supplement.

            (h) No Underwriter shall have terminated the Underwriting Agreement
and the Initial Purchaser shall not have terminated the Certificate Purchase
Agreement.

            (i) The Seller shall have received the purchase price for the
Mortgage Loans pursuant to Section 1 hereof.

            Each party agrees to use its best efforts to perform its respective
obligations hereunder in a manner that will enable the Purchaser to purchase the
Mortgage Loans on the Closing Date.

            Section 7. Closing Documents. The Closing Documents shall consist of
the following:

            (a) This Agreement duly executed by the Purchaser and the Seller.

            (b) A certificate of the Seller, executed by a duly authorized
officer of the Seller and dated the Closing Date, and upon which the Purchaser
and its successors and assigns may rely, to the effect that: (i) the
representations and warranties of the Seller in this Agreement are true and
correct in all material respects on and as of the Closing Date with the same
force and effect as if made on the Closing Date, provided that any
representations and warranties made as of a specified date shall be true and
correct as of such specified date; and (ii) the Seller has complied with all
agreements and satisfied all conditions on its part to be performed or satisfied
on or prior to the Closing Date.

            (c) True, complete and correct copies of the Seller's articles of
organization and by-laws.

            (d) A Certificate of Authority to Transact Business for the Seller
issued by the Illinois Department of Insurance and dated not earlier than 30
days prior to the Closing Date.

            (e) A certificate of the Secretary or Assistant Secretary of the
Seller, dated the Closing Date, and upon which the Purchaser may rely, to the
effect that each individual who, as an officer or representative of the Seller,
signed this Agreement or any other document or certificate delivered on or
before the Closing Date in connection with the transactions contemplated herein,
was at the respective times of such signing and delivery, and is as of the
Closing Date, duly elected or appointed, qualified and acting as such officer or
representative, and the signatures of such persons appearing on such documents
and certificates are their genuine signatures.

            (f) An opinion of counsel (which, other than as to the opinion
described in paragraph (vi) below, may be in-house counsel) to the Seller, dated
the Closing Date, substantially to the effect of the following (with such
changes and modifications as the Purchaser may approve and subject to such
counsel's reasonable qualifications):

            (i) The Seller is validly existing under Illinois law and has full
      corporate power and authority to enter into and perform its obligations
      under this Agreement.

            (ii) This Agreement has been duly authorized, executed and delivered
      by the Seller.

            (iii) No consent, approval, authorization or order of any federal
      court or governmental agency or body is required for the consummation by
      the Seller of the transactions contemplated by the terms of this Agreement
      except any approvals as have been obtained.

            (iv) Neither the execution, delivery or performance of this
      Agreement by the Seller, nor the consummation by the Seller of any of the
      transactions contemplated by the terms of this Agreement (A) conflicts
      with or results in a breach or violation of, or constitute a default
      under, the organizational documents of the Seller, (B) to the knowledge of
      such counsel, constitutes a default under any term or provision of any
      material agreement, contract, instrument or indenture, to which the Seller
      is a party or by which it or any of its assets is bound or result in the
      creation or imposition of any lien, charge or encumbrance upon any of its
      property pursuant to the terms of any such indenture, mortgage, contract
      or other instrument, other than pursuant to this Agreement, or (C)
      conflicts with or results in a breach or violation of any law, rule,
      regulation, order, judgment, writ, injunction or decree of any court or
      governmental authority having jurisdiction over the Seller or its assets,
      except where in any of the instances contemplated by clauses (B) or (C)
      above, any conflict, breach or default, or creation or imposition of any
      lien, charge or encumbrance, will not have a material adverse effect on
      the consummation of the transactions contemplated hereby by the Seller or
      materially and adversely affect its ability to perform its obligations and
      duties hereunder or result in any material adverse change in the business,
      operations, financial condition, properties or assets of the Seller, or in
      any material impairment of the right or ability of the Seller to carry on
      its business substantially as now conducted.

            (v) To his or her knowledge, there are no legal or governmental
      actions, investigations or proceedings pending to which the Seller is a
      party, or threatened against the Seller, (a) asserting the invalidity of
      this Agreement or (b) which materially and adversely affect the
      performance by the Seller of its obligations under, or the validity or
      enforceability of, this Agreement.

            (vi) This Agreement is a valid, legal and binding agreement of the
      Seller, enforceable against the Seller in accordance with its terms,
      except as such enforcement may be limited by (1) laws relating to
      bankruptcy, insolvency, reorganization, receivership or moratorium, (2)
      other laws relating to or affecting the rights of creditors generally, (3)
      general equity principles (regardless of whether such enforcement is
      considered in a proceeding in equity or at law) or (4) public policy
      considerations underlying the securities laws, to the extent that such
      public policy considerations limit the enforceability of the provisions of
      this Agreement that purport to provide indemnification from liabilities
      under applicable securities laws.

            Such opinion may express its reliance as to factual matters on,
among other things specified in such opinion, the representations and warranties
made by, and on certificates or other documents furnished by officers of, the
parties to this Agreement.

            In rendering the opinions expressed above, such counsel may limit
such opinions to matters governed by the federal laws of the United States and
the corporate laws of the State of Illinois and the State of New York, as
applicable.

            (g) Such other opinions of counsel as any Rating Agency may request
in connection with the sale of the Mortgage Loans by the Seller to the Purchaser
or the Seller's execution and delivery of, or performance under, this Agreement.

            (h) A letter from Deloitte & Touche, certified public accountants,
dated the date hereof, to the effect that they have performed certain specified
procedures as a result of which they determined that certain information of an
accounting, financial or statistical nature set forth in the Memorandum and the
Prospectus Supplement agrees with the records of the Seller.

            (i) Such further certificates, opinions and documents as the
Purchaser may reasonably request.

            (j) An officer's certificate of the Purchaser, dated as of the
Closing Date, with the resolutions of the Purchaser authorizing the transactions
described herein attached thereto, together with certified copies of the
charter, by-laws and certificate of good standing of the Purchaser dated not
earlier than 30 days prior to the Closing Date.

            (k) Such other certificates of the Purchaser's officers or others
and such other documents to evidence fulfillment of the conditions set forth in
this Agreement as the Seller or its counsel may reasonably request.

            (l) An executed Bill of Sale in the form attached hereto as Exhibit
4.

            Section 8. Costs. The Seller shall pay the Purchaser the costs and
expenses as agreed upon by the Seller and the Purchaser in a separate Letter of
Understanding dated June 1, 2002.

            Section 9. Notices. All communications provided for or permitted
hereunder shall be in writing and shall be deemed to have been duly given if (a)
personally delivered, (b) mailed by registered or certified mail, postage
prepaid and received by the addressee, (c) sent by express courier delivery
service and received by the addressee, or (d) transmitted by telex or facsimile
transmission (or any other type of electronic transmission agreed upon by the
parties) and confirmed by a writing delivered by any of the means described in
(a), (b) or (c), if (i) to the Purchaser, addressed to Morgan Stanley Dean
Witter Capital I Inc., 1585 Broadway, New York, New York 10036, Attention:
Cecilia Tarrant, with a copy to Michelle Wilke (or such other address as may
hereafter be furnished in writing by the Purchaser), or (ii) if to the Seller,
addressed to the Seller at One State Farm Plaza, E-7, Bloomington, Illinois
61710 Attention: David C. Graves, Vice President - Mortgages and Real Estate (or
to such other address as the Seller may designate in writing).

            Section 10. Severability of Provisions. Any part, provision,
representation, warranty or covenant of this Agreement that is prohibited or
that is held to be void or unenforceable shall be ineffective to the extent of
such prohibition or unenforceability without invalidating the remaining
provisions hereof. Any part, provision, representation, warranty or covenant of
this Agreement that is prohibited or unenforceable or is held to be void or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective
to the extent of such prohibition or unenforceability without invalidating the
remaining provisions hereof, and any such prohibition or unenforceability in any
jurisdiction shall not invalidate or render unenforceable such provision in any
other jurisdiction. To the extent permitted by applicable law, the parties
hereto waive any provision of law which prohibits or renders void or
unenforceable any provision hereof.

            Section 11. Further Assurances. The Seller and the Purchaser each
agree to execute and deliver such instruments and take such actions as the other
may, from time to time, reasonably request in order to effectuate the purpose
and to carry out the terms of this Agreement and the Pooling and Servicing
Agreement.

            Section 12. Survival. Each party hereto agrees that the
representations, warranties and agreements made by it herein and in any
certificate or other instrument delivered pursuant hereto shall be deemed to be
relied upon by the other party, notwithstanding any investigation heretofore or
hereafter made by the other party or on its behalf, and that the
representations, warranties and agreements made by such other party herein or in
any such certificate or other instrument shall survive the delivery of and
payment for the Mortgage Loans and shall continue in full force and effect,
notwithstanding any restrictive or qualified endorsement on the Mortgage Notes
and notwithstanding subsequent termination of this Agreement.

            SECTION 13. GOVERNING LAW. THIS AGREEMENT AND THE RIGHTS, DUTIES,
OBLIGATIONS AND RESPONSIBILITIES OF THE PARTIES HERETO SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS AND DECISIONS OF THE STATE OF NEW
YORK. THE PARTIES HERETO INTEND THAT THE PROVISIONS OF SECTION 5-1401 OF THE NEW
YORK GENERAL OBLIGATIONS LAW SHALL APPLY TO THIS AGREEMENT.

            Section 14. Benefits of Mortgage Loan Purchase Agreement. This
Agreement shall inure to the benefit of and shall be binding upon the Seller,
the Purchaser and their respective successors, legal representatives, and
permitted assigns, and nothing expressed or mentioned in this Agreement is
intended or shall be construed to give any other person any legal or equitable
right, remedy or claim under or in respect of this Agreement, or any provisions
herein contained, this Agreement and all conditions and provisions hereof being
intended to be and being for the sole and exclusive benefit of such persons and
for the benefit of no other person except that the rights and obligations of the
Purchaser pursuant to Sections 2, 4(a) (other than clause (vii)), 5, 11 and 12
hereof may be assigned to the Trustee as may be required to effect the purposes
of the Pooling and Servicing Agreement and, upon such assignment, the Trustee
shall succeed to the rights and obligations hereunder of the Purchaser. No owner
of a Certificate issued pursuant to the Pooling and Servicing Agreement shall be
deemed a successor or permitted assigns because of such ownership.

            Section 15. Miscellaneous. This Agreement may be executed in two or
more counterparts, each of which when so executed and delivered shall be an
original, but all of which together shall constitute one and the same
instrument. Neither this Agreement nor any term hereof may be changed, waived,
discharged or terminated orally, but only by an instrument in writing signed by
the party against whom enforcement of the change, waiver, discharge or
termination is sought. The headings in this Agreement are for purposes of
reference only and shall not limit or otherwise affect the meaning hereof. The
rights and obligations of the Seller under this Agreement shall not be assigned
by the Seller without the prior written consent of the Purchaser, except that
any person into which the Seller may be merged or consolidated, or any
corporation resulting from any merger, conversion or consolidation to which the
Seller is a party, or any person succeeding to the entire business of the Seller
shall be the successor to the Seller hereunder.

            Section 16. Entire Agreement. This Agreement contains the entire
agreement and understanding between the parties hereto with respect to the
subject matter hereof (other than the Letter of Understanding, the
Indemnification Agreement and the Pooling and Servicing Agreement), and
supersedes all prior and contemporaneous agreements, understandings, inducements
and conditions, express or implied, oral or written, of any nature whatsoever
with respect to the subject matter hereof. The express terms hereof control and
supersede any course of performance or usage of the trade inconsistent with any
of the terms hereof.

<PAGE>

            IN WITNESS WHEREOF, the Purchaser and the Seller have caused this
Agreement to be executed by their respective duly authorized officers as of the
date first above written.

                                         STATE FARM LIFE INSURANCE COMPANY

                                         By: ___________________________________
                                             Name:
                                             Title:

                                         By: ___________________________________
                                             Name:
                                             Title:

                                         MORGAN STANLEY DEAN WITTER
                                         CAPITAL I INC.

                                         By: ___________________________________
                                             Name:
                                             Title:

<PAGE>

                                    EXHIBIT 1

                             MORTGAGE LOAN SCHEDULE

MSDWCI 2002-IQ2
SF

<TABLE>
<CAPTION>
LOAN POOL        MORTGAGE LOAN
NO               SELLER            PROPERTY NAME                                        CITY                 STATE   ZIP CODE
---------        -------------     -------------                                        ----                 -----   --------
<C>              <C>               <C>                                                  <C>                  <C>       <C>
3                SF                Fayette Pavilion Shopping Center                     Fayetteville         GA        30214
16               SF                The Centre at Deane Hill                             Knoxville            TN        37919
17               SF                Ballas Medical Office Building                       St. Louis            MO        63131
18               SF                Baxter Office Building                               Chesterfield         MO        63017
19               SF                Woodcrest Plaza                                      St. Louis            MO        63141
20               SF                Chapel Hill II                                       Town & Country       MO        63017
21               SF                Westchase Park                                       St. Louis            MO        63141
22               SF                Woodsmill 40 Medical Center                          St. Louis            MO        63017
23               SF                Town & Country Medical Office Building               St. Louis            MO        63131
24               SF                Spirit Business Center South                         Chesterfield         MO        63005
25               SF                Spirit Business Center North                         Chesterfield         MO        63005
26               SF                Spirit Business Center                               Chesterfield         MO        63005
37               SF                Tesoro Building                                      San Antonio          TX        78216
44               SF                Park Center                                          Fort Lauderdale      FL        33309
54               SF                Research Interchange                                 Austin               TX        78758
59               SF                Tempe-Southern Business Center                       Tempe                AZ        85282
62               SF                McLean Ridge III                                     White Marsh          MD        21236
63               SF                McLean Ridge IV                                      White Marsh          MD        21236
65               SF                Governor Morris Office Center                        Morris Township      NJ        07960
66               SF                Abbott's Bridge Station Shopping Center              Duluth               GA        30097
68               SF                American Plaza I                                     White Marsh          MD        21236
70               SF                Admiral's Crossing Shopping Center                   Jupiter              FL        33458
72               SF                McLean Ridge I                                       White Marsh          MD        21236
73               SF                McLean Ridge II                                      White Marsh          MD        21236
74               SF                Winn Dixie                                           Tamarac              FL        33321
75               SF                2 Goodyear Building                                  Irvine               CA        92618
76               SF                I-370 Warehouse                                      Gaithersburg         MD        20877
77               SF                Sinclair Business Park                               Milpitas             CA        95035
78               SF                Hi-Tech I & 2                                        White Marsh          MD        21236
87               SF                Road Runner Sports Facility                          San Diego            CA        92111
97               SF                Oak Hill Place                                       Pawtucket            RI        02860
98               SF                Character Collectibles Building                      Ontario              CA        91761
99               SF                Kenmore Rite Aid Store                               Kenmore              WA        98028
100              SF                Bristol Office Building                              West Des Moines      IA        50266
104              SF                Normandy Square Shopping Center                      Jacksonville         FL        32221
105              SF                Pecos and Post I Commerce Center                     Las Vegas            NV        89120
107              SF                Rite Aid Drugstore - Monroe                          Monroe               WA        98272
109              SF                Cypress Plaza                                        Fort Lauderdale      FL        33309
111              SF                Rite Aid & Branch Banking and Trust                  Chesapeake           VA        23320
112              SF                Wilson Grove Village Shopping Center                 Mint Hill            NC        28227
117              SF                Winn Dixie Marketplace                               Seminole             FL        33777
118              SF                Winn-Dixie (#663)                                    Winter Haven         FL        33880
121              SF                Colorado Club Office Building                        Denver               CO        80222
122              SF                Hacienda & Polaris Business Center                   Las Vegas            NV        89118
123              SF                Eckerd Drugs                                         Mint Hill            NC        28227
124              SF                Winn Dixie Supermarket #1643                         Jeffersonville       IN        47130
125              SF                Winn-Dixie - Kingsland                               Kingsland            GA        31548

<CAPTION>
LOAN POOL                                                                                 SUB-SERVICING
NO               ORIGINAL BALANCE      CURRENT BALANCE     MASTER FEE    PRIMARY FEE                FEE
---------        ----------------      ---------------     ----------    -----------      -------------
<C>                   <C>                  <C>                   <C>            <C>               <C>
3                     $52,500,000          $49,178,071           5.00           0.00               2.00
16                    $32,000,000          $30,495,655           5.00           0.00               3.00
17                     $4,920,000           $4,273,678           5.00           0.00               6.00
18                     $4,160,000           $3,613,528           5.00           0.00               6.00
19                     $4,135,000           $3,591,793           5.00           0.00               6.00
20                     $4,050,000           $3,517,972           5.00           0.00               6.00
21                     $3,210,000           $2,788,296           5.00           0.00               6.00
22                     $3,000,000           $2,639,646           5.00           0.00              10.00
23                     $2,210,000           $1,919,720           5.00           0.00               6.00
24                     $1,530,000           $1,328,970           5.00           0.00               6.00
25                     $1,280,000           $1,111,801           5.00           0.00               6.00
26                     $1,235,000           $1,072,780           5.00           0.00               6.00
37                    $14,000,000          $13,475,273           5.00           0.00               7.00
44                     $9,000,000           $8,380,540           5.00           0.00               8.00
54                     $8,200,000           $7,974,238           5.00           0.00               8.00
59                     $7,385,000           $6,998,418           5.00           0.00               8.50
62                     $3,700,000           $3,372,091           5.00           0.00               8.00
63                     $3,300,000           $3,007,532           5.00           0.00               8.00
65                     $6,300,000           $5,906,635           5.00           0.00               0.00
66                     $6,375,000           $5,810,956           5.00           0.00               9.00
68                     $6,100,000           $5,505,542           5.00           0.00               9.00
70                     $5,750,000           $5,469,308           5.00           0.00               9.00
72                     $3,350,000           $2,996,216           5.00           0.00               9.00
73                     $2,650,000           $2,370,137           5.00           0.00               9.00
74                     $5,600,000           $5,258,031           5.00           0.00               9.00
75                     $5,415,000           $5,131,556           5.00           0.00               9.00
76                     $6,500,000           $5,064,845           5.00           0.00               9.00
77                     $4,891,447           $4,661,816           5.00           0.00               9.60
78                     $5,000,000           $4,512,769           5.00           0.00              10.00
87                     $4,400,000           $4,217,077           5.00           0.00              10.00
97                     $4,000,000           $3,399,307           5.00           0.00              10.00
98                     $3,400,000           $3,370,101           5.00           0.00              11.00
99                     $3,575,000           $3,276,246           5.00           0.00              10.70
100                    $3,450,000           $3,238,553           5.00           0.00              10.00
104                    $3,500,000           $3,045,531           5.00           0.00              10.00
105                    $3,075,000           $2,918,766           5.00           0.00              11.00
107                    $3,100,000           $2,797,852           5.00           0.00              11.00
109                    $2,975,000           $2,770,218           5.00           0.00              10.00
111                    $3,000,000           $2,734,124           5.00           0.00              10.00
112                    $3,000,000           $2,686,460           5.00           0.00              10.00
117                    $2,400,000           $1,988,587           5.00           0.00              11.80
118                    $2,450,000           $1,996,688           5.00           0.00              11.70
121                    $2,000,000           $1,443,617           5.00           0.00              12.50
122                    $1,480,000           $1,402,544           5.00           0.00              12.50
123                    $1,400,000           $1,253,698           5.00           0.00              10.00
124                    $1,500,000           $1,235,972           5.00           0.00              12.50
125                    $1,575,000           $1,203,648           5.00           0.00              12.50
</TABLE>

<PAGE>

                                    EXHIBIT 2

                    REPRESENTATIONS AND WARRANTIES REGARDING
                            INDIVIDUAL MORTGAGE LOANS

            1. Mortgage Loan Schedule. The information set forth in the Mortgage
Loan Schedule is complete, true and correct in all material respects as of the
date of this Agreement and as of the Cut-Off Date.

            2. Whole Loan; Ownership of Mortgage Loans. Each Mortgage Loan is a
whole loan and not a participation interest in a mortgage loan. Immediately
prior to the transfer to the Purchaser of the Mortgage Loans, the Seller had
good title to, and was the sole owner of, each Mortgage Loan. The Seller has
full right, power and authority to transfer and assign each of the Mortgage
Loans to or at the direction of the Purchaser and (assuming that the Purchaser
has the capacity to acquire such Mortgage Loan) has validly and effectively
conveyed (or caused to be conveyed) to the Purchaser or its designee all of the
Seller's legal and beneficial interest in and to the Mortgage Loans free and
clear of any and all pledges, liens, charges, security interests and/or other
encumbrances. The sale of the Mortgage Loans to the Purchaser or its designee
does not require the Seller to obtain any governmental or regulatory approval or
consent that has not been obtained. None of the Mortgage Loan documents
restricts the Seller's right to transfer the Mortgage Loan to the Purchaser or
the Trustee.

            3. Payment Record. No scheduled payment of principal and interest
under any Mortgage Loan was 30 days or more past due as of the Cut-Off Date, and
no Mortgage Loan was 30 days or more delinquent in the twelve-month period
immediately preceding the Cut-Off Date.

            4. Lien; Valid Assignment. The Mortgage related to and delivered in
connection with each Mortgage Loan constitutes a valid and, subject to the
exceptions set forth in paragraph 13 below, enforceable first priority lien upon
the related Mortgaged Property, prior to all other liens and encumbrances,
except for (a) the lien for current real estate taxes and assessments not yet
due and payable, (b) covenants, conditions and restrictions, rights of way,
easements and other matters that are of public record and/or are referred to in
the related lender's title insurance policy, (c) exceptions and exclusions
specifically referred to in such lender's title insurance policy, and (d) other
matters to which like properties are commonly subject, none of which matters
referred to in clauses (b), (c) or (d), individually or in the aggregate,
materially interferes with the security intended to be provided by such
Mortgage, the value or current use or operation of the Mortgaged Property or the
current ability of the Mortgaged Property to generate operating income
sufficient to service the Mortgage Loan debt (the foregoing items (a) through
(d) being herein referred to as the "Permitted Encumbrances"). The related
Assignment of Mortgage executed and delivered in favor of the Trustee is in
recordable form and constitutes a legal, valid and binding assignment, and,
assuming that the assignee has the capacity to acquire such Mortgage, sufficient
to convey to the assignee named therein all of the assignor's right, title and
interest in, to and under such Mortgage. Such Mortgage, together with any
separate security agreements, chattel mortgages or equivalent instruments,
establishes and creates a valid and, subject to the exceptions set forth in
paragraph 13 below, enforceable security interest in favor of the holder thereof
in all of the related Mortgagor's personal property used in the operation of the
related Mortgaged Property. As of the Closing Date, Uniform Commercial Code
financing statements or continuation statements have been filed and/or recorded
in all places necessary to perfect and keep perfected, until additional actions
are required under the Uniform Commercial Code, a valid security interest in
such personal property, to the extent a security interest may be so created
therein, and such security interest is a first priority security interest,
subject to any prior purchase money security interest in such personal property
and any personal property leases applicable to such personal property, or the
failure to have filed and/or recorded Uniform Commercial Code financing
statements prior to the Closing Date will not have a material adverse effect on
the value of the Mortgaged Properties. Notwithstanding the foregoing, no
representation is made as to the perfection of any security interest in rents or
other personal property to the extent that possession or control of such items
or actions other than the filing of Uniform Commercial Code financing statements
are required in order to effect such perfection.

            5. Assignment of Leases and Rents. The Assignment of Leases related
to and delivered in connection with each Mortgage Loan establishes and creates a
valid and, subject to the exceptions set forth in paragraph 13 below,
enforceable first priority collateral assignment in the related Mortgagor's
interest in all leases, sub-leases, licenses or other agreements pursuant to
which any person is entitled to occupy, use or possess all or any portion of the
real property subject to the related Mortgage, subject to legal limitations of
general applicability to commercial mortgage loans similar to the Mortgage Loan,
and the Mortgagor and each assignor of such Assignment of Leases to the Seller
have the full right to assign the same. The related assignment of any Assignment
of Leases not included in a Mortgage has been executed and delivered in favor of
the Trustee and is in recordable form and constitutes a legal, valid and binding
assignment, sufficient to convey to the assignee named therein (assuming that
the assignee has the capacity to acquire such Assignment of Leases) all of the
assignor's right, title and interest in, to and under such Assignment of Leases.

            6. Mortgage Status; Waivers and Modifications. No Mortgage has been
satisfied, cancelled, rescinded or (except for Permitted Encumbrances)
subordinated in whole or in part, and the related Mortgaged Property has not
been released from the lien of such Mortgage, in whole or in part, nor has any
instrument been executed that would effect any such satisfaction, cancellation,
subordination (except for Permitted Encumbrances), rescission or release, in any
manner that, in each case, materially and adversely affects the value of the
related Mortgaged Property except for any partial reconveyances of real property
that are included in the related Mortgage File. None of the terms of any
Mortgage Note, Mortgage or Assignment of Leases has been impaired, waived in any
material respect, altered or modified in any respect, except by written
instruments, all of which are included in the related Mortgage File and none of
the mortgage loans have been modified since June 1, 2002.

            7. Condition of Property; Condemnation. A property inspection report
was prepared in connection with the origination of each Mortgage Loan (except in
certain cases where the Mortgaged Property was newly constructed). With respect
to each Mortgaged Property securing a Mortgage Loan that was the subject of a
property inspection report or a Certificate of Substantial Completion or an
Architect's Certificate of Completion prepared on or after December 1, 2000,
other than as disclosed in such property inspection report or Certificate of
Substantial Completion or an Architect's Certificate of Completion, each such
Mortgaged Property is, to the Seller's knowledge, free and clear of any damage
(or adequate reserves therefor have been established) that would materially and
adversely affect its value as security for the related Mortgage Loan.

            With respect to the remaining Mortgaged Properties for which
property inspection reports, Certificates of Substantial Completion or
Architect's Certificate of Completion were prepared prior to December 1, 2000 or
for which no such reports or certificates were prepared, (a) such Mortgaged
Property is (i) free and clear of any damage that would materially and adversely
affect its value as security for the related Mortgage Loan; and (ii) in good
repair and condition so as not to materially and adversely affect its value as
security for the related Mortgage Loan; and (b) all building systems contained
on such Mortgaged Property are in good working order so as not to materially and
adversely affect its value as security for the related Mortgage Loan or, in the
case of (a) and (b) adequate reserves therefor have been established or other
resources are available.

            The Seller has received no notice of the commencement of any
proceeding for the condemnation of all or any material portion of any Mortgaged
Property. To the Seller's knowledge (based on surveys and/or title insurance
obtained in connection with the origination of the Mortgage Loans), as of the
date of the origination of each Mortgage Loan, all of the material improvements
on the related Mortgaged Property that were considered in determining the value
of the Mortgaged Property lay wholly within the boundaries of such property,
except for encroachments that are insured against by the lender's title
insurance policy referred to herein or that do not materially and adversely
affect the value or marketability of such Mortgaged Property, and no
improvements on adjoining properties materially encroached upon such Mortgaged
Property so as to materially and adversely affect the value or marketability of
such Mortgaged Property, except those encroachments that are insured against by
the Title Policy referred to herein.

            8. Title Insurance. Each Mortgaged Property is covered by an
American Land Title Association (or an equivalent form of) lender's title
insurance policy (the "Title Policy") in the original principal amount of the
related Mortgage Loan after all advances of principal. Each Title Policy insures
that the related Mortgage is a valid first priority lien on such Mortgaged
Property, subject only to the Permitted Encumbrances stated therein (or a marked
up title insurance commitment or pro forma policy marked as binding and
counter-signed by the title insurer or its authorized agent on which the
required premium has been paid exists which evidences that such Title Policy
will be issued). Each Title Policy (or, if it has yet to be issued, the coverage
to be provided thereby) is in full force and effect, all premiums thereon have
been paid, no material claims have been made thereunder and no claims have been
paid thereunder. No holder under the related Mortgage has done, by act or
omission, anything that would materially impair the coverage under such Title
Policy. Immediately following the transfer and assignment of the related
Mortgage Loan to the Trustee, such Title Policy (or, if it has yet to be issued,
the coverage to be provided thereby) will inure to the benefit of the Trustee
without the consent of or notice to the insurer. To the Seller's knowledge, the
insurer issuing such Title Policy is qualified to do business in the
jurisdiction in which the related Mortgaged Property is located.

            9. No Holdbacks. The proceeds of each Mortgage Loan have been fully
disbursed and there is no obligation for future advances with respect thereto.
With respect to each Mortgage Loan, any and all requirements as to completion of
any on-site or off-site improvement and as to disbursements of any funds
escrowed for such purpose that were to have been complied with on or before the
Closing Date have been complied with, or any such funds so escrowed have not
been released.

            10. Mortgage Provisions. The Mortgage Note or Mortgage for each
Mortgage Loan, together with applicable state law, contains customary and
enforceable provisions (subject to the exceptions set forth in paragraph 13),
including foreclosure, such as to render the rights and remedies of the holder
thereof adequate for the practical realization against the related Mortgaged
Property of the principal benefits of the security intended to be provided
thereby. The related Mortgage Loan documents provide for the appointment of a
receiver of rents following an event of default under such loan documents, to
the extent available under applicable law.

            11. Trustee under Deed of Trust. If any Mortgage is a deed of trust,
(a) a trustee, duly qualified under applicable law to serve as such, is properly
designated and serving under such Mortgage, and (b) no fees or expenses are
payable to such trustee by the Seller, the Purchaser or any transferee thereof
except in connection with a trustee's sale after default by the related
Mortgagor or in connection with any full or partial release of the related
Mortgaged Property or related security for the related Mortgage Loan.

            12. Environmental Conditions. An environmental site assessment
assessing all hazards generally assessed for similar properties (as of the date
of such assessment), including type, use and tenants for such similar properties
("Environmental Report") was performed with respect to each Mortgaged Property
in connection with the origination or securitization of each Mortgage Loan.

            (a) With respect to the Mortgaged Properties for which the
Environmental Reports were prepared on or after December 1, 2000, other than as
disclosed in the related Environmental Report therefor, to the Seller's
knowledge, (X) no Hazardous Material is present on such Mortgaged Property, such
that (1) the value, use or operations of such Mortgaged Property is materially
and adversely affected, or (2) under applicable federal, state or local law, (i)
such Hazardous Material could be required to be eliminated, remediated or
otherwise responded to at a cost or in a manner materially and adversely
affecting the value, use or operations of the Mortgaged Property before such
Mortgaged Property could be altered, renovated, demolished or transferred or
(ii) the presence of such Hazardous Material could (upon action by the
appropriate governmental authorities) subject the owner of such Mortgaged
Property, or the holders of a security interest therein, to liability for the
cost of eliminating, remediating or otherwise responding to such Hazardous
Material or the hazard created thereby at a cost or in a manner materially and
adversely affecting the value, use or operations of the Mortgaged Property, and
(Y) such Mortgaged Property is in material compliance with all applicable
federal, state and local laws and regulations pertaining to Hazardous Materials
or environmental hazards, any noncompliance with such laws or regulations does
not have a material adverse effect on the value, use or operations of such
Mortgaged Property and neither Seller nor, to the Seller's knowledge, the
related Mortgagor or any current tenant thereon, has received any notice of any
violation or potential violation of any such law or regulation. With respect to
any condition disclosed in an Environmental Report, which condition constituted
a violation of applicable laws or regulations or would materially and adversely
affect the value, use or operations of the related Mortgaged Property if not
remedied, such condition has either been satisfactorily remedied, consistent
with prudent commercial mortgage lending practices, or the applicable loan
documents contain provisions which address such condition to the satisfaction of
the Seller, consistent with prudent commercial mortgage lending practices, and
adequate funding or resources, consistent with prudent commercial mortgage
lending practices, were available to remedy or otherwise respond to such
condition.

            (b) With respect to the remaining Mortgaged Properties for which the
Environmental Reports were prepared prior to December 1, 2000, (X) no Hazardous
Material is present on such Mortgaged Property, such that (1) the value, use or
operations of such Mortgaged Property is materially and adversely affected, or
(2) under applicable federal, state or local law and regulations, (a) such
Hazardous Material could be required to be eliminated, remediated or otherwise
responded to at a cost or in a manner materially and adversely affecting the
value, use or operations of the Mortgaged Property before such Mortgaged
Property could be altered, renovated, demolished or transferred or (b) the
presence of such Hazardous Material could (upon action by the appropriate
governmental authorities) subject the owner of such Mortgaged Property, or the
holders of a security interest therein, to liability for the cost of
eliminating, remediating or otherwise responding to such Hazardous Material or
the hazard created thereby at a cost or in a manner materially and adversely
affecting the value, use or operations of the Mortgaged Property, and (Y) such
Mortgaged Property is in material compliance with all applicable federal, state
and local laws and regulations pertaining to Hazardous Materials or
environmental hazards, any noncompliance with such laws or regulations does not
have a material adverse effect on the value, use or operations of such Mortgaged
Property and neither Seller nor, to the Seller's knowledge, the related
Mortgagor or any current tenant thereon, has received any notice of any
violation or potential violation of any such law or regulation. With respect to
any condition disclosed in an Environmental Report, which condition constituted
a violation of applicable laws or regulations or would materially and adversely
affect the value, use or operations of the related Mortgaged Property if not
remedied, such condition has either been satisfactorily remedied, consistent
with prudent commercial mortgage lending practices, or the applicable loan
documents contain provisions which address such condition to the satisfaction of
the Seller, consistent with prudent commercial mortgage lending practices, and
adequate funding or resources, consistent with prudent commercial mortgage
lending practices, were available to remedy or otherwise respond to such
condition.

            (c) Reserved.

            (d) Each Mortgage requires the related Mortgagor to comply with all
applicable federal, state and local environmental laws and regulations.

            (e) Reserved.

            "Hazardous Materials" means gasoline, petroleum products,
explosives, radioactive materials, polychlorinated biphenyls or related or
similar materials, and any other substance, material or waste as may be defined
as a hazardous or toxic substance, material or waste by an federal, state or
local environmental law, ordinance, rule, regulation or order, including without
limitation, the Comprehensive Environmental Response, Compensation and Liability
Act of 1980, as amended (42 U.S.C.ss.ss.9601 et seq.), the Hazardous Materials
Transportation Act, as amended (49 U.S.C.ss.sS. 1801 et seq.), the Resource
Conservation and Recovery Act, as amended (42 U.S.C.ss.ss.6901 et seq.), the
Federal Water Pollution Control Act, as amendeD (33 U.S.C.ss.ss.1251 et seq.),
the Clean Air Act, as amended (42 U.S.C.ss.ss.7401 et seq.), and any regulations
promulgated pursuant thereto.

            13. Loan Document Status. Each Mortgage Note, Mortgage and other
agreement that evidences or secures such Mortgage Loan and that was executed by
or on behalf of the related Mortgagor is the legal, valid and binding obligation
of the maker thereof (subject to any non-recourse provisions contained in any of
the foregoing agreements and any applicable state anti-deficiency or market
value limit deficiency legislation), enforceable in accordance with its terms,
except with respect to provisions relating to default interest, yield
maintenance charges and prepayment premiums and as such enforcement may be
limited by bankruptcy, insolvency, reorganization or other similar laws
affecting the enforcement of creditors' rights generally, and by general
principles of equity (regardless of whether such enforcement is considered in a
proceeding in equity or at law) and, to the Seller's knowledge, there is no
valid defense, counterclaim or right of offset or rescission available to the
related Mortgagor with respect to such Mortgage Note, Mortgage or other
agreements.

            14. Insurance. Each Mortgaged Property is required (or the holder of
the Mortgage can require) pursuant to the related Mortgage to be, and at
origination the Seller received evidence that such Mortgaged Property was,
insured by (a) a fire and extended perils insurance policy providing coverage
against loss or damage sustained by reason of fire, lightning, hail, windstorm
(with respect to the Mortgage Loans set forth on Schedule 2 attached hereto),
explosion, riot, riot attending a strike, civil commotion, aircraft, vehicles
and smoke, and, to the extent required as of the date of origination by the
originator of such Mortgage Loan consistent with its normal commercial mortgage
lending practices, against other risks insured against by persons operating like
properties in the locality of the Mortgaged Property, in an amount not less than
the lesser of the principal balance of the related Mortgage Loan and the
replacement cost of the improvements on the Mortgaged Property, and with no
provisions for a deduction for depreciation in respect of awards for the
reconstruction of the improvements, and not less than the amount necessary to
avoid the operation of any co-insurance provisions with respect to the Mortgaged
Property; (b) a business interruption or rental loss insurance policy or
coverage, in an amount at least equal to six (6) months of operations of the
Mortgaged Property; and (c) a flood insurance policy (if any portion of
buildings or other structures (excluding parking) on the Mortgaged Property are
located in an area identified by the Federal Emergency Management Agency
("FEMA") as a special flood hazard area (which "special flood hazard area" does
not include areas designated by FEMA as Zones B, C or X)). With respect to each
Mortgaged Property, such Mortgaged Property is required pursuant to the related
Mortgage to be (or the holder of the Mortgage can require that the Mortgaged
Property be), and at origination the Seller received evidence that such
Mortgaged Property was, insured by a commercial general liability insurance
policy in amounts as are generally required by commercial mortgage lenders for
similar properties, and in any event not less than $1 million per occurrence.
Under such insurance policies either (A) the Seller is named as mortgagee under
a standard mortgagee clause or (B) the Seller is named as an additional insured,
and is entitled to receive prior notice as the holder of the Mortgage of
termination or cancellation. No such notice has been received, including any
notice of nonpayment of premiums, that has not been cured. Each Mortgage
obligates the related Mortgagor to maintain or cause to be maintained all such
insurance and, upon such Mortgagor's failure to do so, authorizes the holder of
the Mortgage to maintain or to cause to be maintained such insurance at the
Mortgagor's cost and expense and to seek reimbursement therefor from such
Mortgagor. Each Mortgage Loan provides that casualty insurance proceeds will be
applied either to the restoration or repair of the related Mortgaged Property or
to the reduction of the principal amount of the Mortgage Loan. Each Mortgage
provides that any related insurance proceeds, other than for a total loss or
taking, will be applied either to the repair or restoration of all or part of
the related Mortgaged Property, with the mortgagee or a trustee appointed by the
mortgagee having the right to hold and disburse such proceeds as the repair or
restoration progresses (except in such cases where a provision entitling another
party to hold and disburse such proceeds would not be viewed as commercially
unreasonable by a prudent commercial mortgage lender), or to the payment of the
outstanding principal balance of the Mortgage Loan together with any accrued
interest thereon, and any insurance proceeds in respect of a total or
substantially total loss or taking may be applied either to payment of
outstanding principal and interest on the Mortgage Loan (except as otherwise
provided by law) or to rebuilding of the Mortgaged Property.

            15. Taxes and Assessments and Ground Lease Rents. As of the Closing
Date, there are no delinquent taxes, assessments or other outstanding charges
affecting any Mortgaged Property that are or may become a lien of priority equal
to or higher than the lien of the related Mortgage. For purposes of this
representation and warranty, real property taxes and assessments shall be
considered delinquent commencing from the date on which interest or penalties
would be first payable thereon. As of the Closing Date, there are no delinquent
rents on any ground leases for any Mortgaged Property.

            16. Mortgagor Bankruptcy. No Mortgagor is, to the Seller's
knowledge, a debtor in any state or federal bankruptcy or insolvency proceeding
and no Mortgaged Property or any portion thereof is subject to a plan in any
such proceeding.

            17. Leasehold Estate. Each Mortgaged Property consists of the
related Mortgagor's fee simple estate in real estate (the "Fee Interest") or the
related Mortgage Loan is secured in whole or in part by the interest of the
related Mortgagor as a lessee under a ground lease of the Mortgaged Property (a
"Ground Lease"), and if secured in whole or in part by a Ground Lease, either
(1) the ground lessor's fee interest is subordinated to the lien of the Mortgage
and the Mortgage will not be subject to any lien or encumbrances on the ground
lessor's fee interest, other than Permitted Encumbrances, and the holder of the
Mortgage is permitted to foreclose the ground lessor's fee interest within a
commercially reasonable time period or (2) the following apply to such Ground
Lease:

            (a) Such Ground Lease or a memorandum thereof has been or will be
      duly recorded; such Ground Lease (or the related estoppel letter or lender
      protection agreement between the Seller and related lessor) permits the
      interest of the lessee thereunder to be encumbered by the related
      Mortgage; does not restrict the use of the related Mortgaged Property by
      the lessee or its permitted successors and assigns in a manner that would
      materially and adversely affect the security provided by the related
      Mortgage; and, to the knowledge of the Seller, there has been no material
      change in the payment terms of such Ground Lease since the origination of
      the related Mortgage Loan, with the exception of material changes
      reflected in written instruments that are a part of the related Mortgage
      File;

            (b) The lessee's interest in such Ground Lease is not subject to any
      liens or encumbrances superior to, or of equal priority with, the related
      Mortgage, other than the ground lessor's related fee interest and
      Permitted Encumbrances;

            (c) The Mortgagor's interest in such Ground Lease is assignable to
      the Purchaser and its successors and assigns upon notice to, but (except
      in the case where such consent cannot be unreasonably withheld) without
      the consent of, the lessor thereunder (or, if such consent is required, it
      has been obtained prior to the Closing Date) and, in the event that it is
      so assigned, is further assignable by the Purchaser and its successors and
      assigns upon notice to, but without the need to obtain the consent of,
      such lessor (except in the case where such consent cannot be unreasonably
      withheld);

            (d) Such Ground Lease is in full force and effect, and the Seller
      has received no notice that an event of default has occurred thereunder,
      and, to the Seller's knowledge, there exists no condition that, but for
      the passage of time or the giving of notice, or both, would result in an
      event of default under the terms of such Ground Lease;

            (e) Such Ground Lease, or an estoppel letter or other agreement,
      requires the lessor under such Ground Lease to give notice of any material
      default by the lessee to the mortgagee (concurrent with notice given to
      the lessee), provided that the mortgagee has provided the lessor with
      notice of its lien in accordance with the provisions of such Ground Lease,
      and such Ground Lease, or an estoppel letter or other agreement, further
      provides that no notice of termination given under such Ground Lease is
      effective against the mortgagee unless a copy has been delivered to the
      mortgagee. The Seller has provided the lessor under the Ground Lease with
      notice of the Seller's lien on the Mortgaged Property in accordance with
      the provisions of such Ground Lease;

            (f) A mortgagee is permitted a reasonable opportunity (including,
      where necessary, sufficient time to gain possession of the interest of the
      lessee under such Ground Lease) to cure any default under such Ground
      Lease, which is curable after the receipt of notice of any such default,
      before the lessor thereunder may terminate such Ground Lease by reason of
      such default;

            (g) Such Ground Lease has an original term, along with any
      extensions set forth in such Ground Lease, not less than 10 years beyond
      the full amortization term of the Mortgage Loan;

            (h) Under the terms of such Ground Lease and the related Mortgage,
      taken together, any related insurance proceeds, other than for a total
      loss or taking, will be applied either to the repair or restoration of all
      or part of the related Mortgaged Property, with the mortgagee or a trustee
      appointed by the mortgagee having the right to hold and disburse such
      proceeds as the repair or restoration progresses (except in such cases
      where a provision entitling another party to hold and disburse such
      proceeds would not be viewed as commercially unreasonable by a prudent
      commercial mortgage lender), or to the payment of the outstanding
      principal balance of the Mortgage Loan together with any accrued interest
      thereon, and any insurance proceeds in respect of a total or substantially
      total loss or taking may be applied either to payment of outstanding
      principal and interest on the Mortgage Loan (except as otherwise provided
      by law) or to rebuilding of the Mortgaged Property;

            (i) Such Ground Lease does not impose any restrictions on subletting
      which would be viewed, as of the date of origination of the related
      Mortgage Loan, as commercially unreasonable by the Seller; and such Ground
      Lease contains a covenant that the lessor thereunder is not permitted, in
      the absence of an uncured default, to disturb the possession, interest or
      quiet enjoyment of any subtenant of the lessee, or in any manner, which
      would materially and adversely affect the security provided by the related
      Mortgage;

            (j) Such Ground Lease or an estoppel or other agreement requires the
      lessor to enter into a new lease with the Seller or its successors or
      assigns under terms which do not materially vary from the economic terms
      of the Ground Lease, in the event of a termination of the Ground Lease by
      reason of a default by the Mortgagor under the Ground Lease, including
      rejection of the Ground Lease in a bankruptcy proceeding; and

            (k) Such Ground Lease may not be materially amended, modified or,
      except in the case of a default, cancelled or terminated without the prior
      written consent of the holder of the Mortgage Loan, and any such action
      without such consent is not binding on such holder, including any increase
      in the amount of rent payable by the lessee thereunder during the term of
      the Mortgage Loan.

            18. Escrow Deposits. All escrow deposits and payments relating to
each Mortgage Loan that are, as of the Closing Date, required to be deposited or
paid have been so deposited or paid, and those escrow deposits and payments are
under control of the Seller or its agents.

            19. LTV Ratio. The gross proceeds of each Mortgage Loan to the
related Mortgagor at origination did not exceed the non-contingent principal
amount of the Mortgage Loan and either: (a) such Mortgage Loan is secured by an
interest in real property having a fair market value (i) at the date the
Mortgage Loan was originated, at least equal to 80 percent of the original
principal balance of the Mortgage Loan or (ii) at the Closing Date, at least
equal to 80 percent of the principal balance of the Mortgage Loan on such date;
provided that for purposes hereof, the fair market value of the real property
interest must first be reduced by (x) the amount of any lien on the real
property interest that is senior to the Mortgage Loan and (y) a proportionate
amount of any lien that is in parity with the Mortgage Loan (unless such other
lien secures a Mortgage Loan that is cross-collateralized with such Mortgage
Loan, in which event the computation described in clauses (a)(i) and (a)(ii) of
this paragraph 19 shall be made on a pro rata basis in accordance with the fair
market values of the Mortgaged Properties securing such cross-collateralized
Mortgage Loans); or (b) substantially all the proceeds of such Mortgage Loan
were used to acquire, improve or protect the real property that served as the
only real property collateral for such Mortgage Loan (other than a recourse
feature or other third party credit enhancement within the meaning of Treasury
Regulations Section 1.860G-2(a)(1)(ii)).

            20. Mortgage Loan Modifications. Any Mortgage Loan that was
"significantly modified" prior to the Closing Date so as to result in a taxable
exchange under Section 1001 of the Code either (a) was modified as a result of
the default under such Mortgage Loan or under circumstances that made a default
reasonably foreseeable or (b) satisfies the provisions of either clause (a)(i)
of paragraph 19 (substituting the date of the last such modification for the
date the Mortgage Loan was originated) or clause (a)(ii) of paragraph 19,
including the proviso thereto.

            21. Advancement of Funds by the Seller. No holder of a Mortgage Loan
has advanced funds, or induced, solicited or knowingly received any advance of
funds from a party other than the owner of the related Mortgaged Property (or
any tenant required to make its lease payments directly to the holder of the
related Mortgage Loan), directly or indirectly, for the payment of any amount
required by such Mortgage Loan.

            22. No Mechanics' Liens. As of the applicable Mortgage Loan
origination date, and to the Seller's knowledge as of the Closing Date, each
Mortgaged Property is free and clear of any and all mechanics' and materialmen's
liens that are prior or equal to the lien of the related Mortgage and no rights
are outstanding that under law could give rise to any such lien that would be
prior or equal to the lien of the related Mortgage except, in each case, for
liens insured against by the Title Policy referred to herein, or, if any such
liens existing as of the Closing Date are not insured against by the Title
Policy referred to herein, such liens will not have a material adverse effect on
the value of the related Mortgaged Property.

            23. Compliance with Usury Laws. Each Mortgage Loan complied with all
applicable usury laws in effect at its date of origination.

            24. Cross-collateralization. No Mortgage Loan is
cross-collateralized or cross-defaulted with any loan other than one or more
other Mortgage Loans.

            25. Releases of Mortgaged Property. No Mortgage Note or Mortgage
requires the mortgagee to release all or any material portion of the related
Mortgaged Property that was included in the valuation for such Mortgaged
Property, and/or generates income, from the lien of the related Mortgage except
upon payment in full of all amounts due under the related Mortgage Loan, or upon
satisfaction of the defeasance provisions of such Mortgage Loan, other than the
Mortgage Loans that require the mortgagee to grant a release of a portion of the
related Mortgaged Property upon (a) the satisfaction of certain legal and
underwriting requirements where the portion of the related Mortgaged Property
permitted to be released was not considered by the Seller to be material in
underwriting the Mortgage Loan or, in the case of a substitution, where the
Mortgagor is entitled to substitute a replacement parcel at its unilateral
option upon the satisfaction of specified conditions, and/or (b) the payment of
a release price and prepayment consideration in connection therewith, consistent
with the Seller's normal commercial mortgage lending practices (and in both (a)
and (b), any release of the Mortgaged Property has been reflected in the
Mortgage Loan Schedule). Except as described in the prior sentence (other than
with respect to defeasance and substitution), no Mortgage Loan permits the full
or partial release or substitution of collateral unless (1) the mortgagor is
entitled to substitute a replacement parcel at its unilateral option upon
satisfaction of specified conditions, and (2) the mortgagee or servicer can
require the Mortgagor to provide an opinion of tax counsel to the effect that
such release or substitution of collateral (a) would not constitute a
"significant modification" of such Mortgage Loan within the meaning of Treas.
Reg. ss.1.1001-3 and (b) would noT cause such Mortgage Loan to fail to be a
"qualified mortgage" within the meaning of Section 860G(a)(3)(A) of the Code.

            26. No Equity Participation or Contingent Interest. No Mortgage Loan
contains any equity participation by the lender or provides for negative
amortization or for any contingent or additional interest in the form of
participation in the cash flow of the related Mortgaged Property.

            27. No Material Default. To the Seller's knowledge, there exists no
material default, breach, violation or event giving the lender the right to
accelerate the Mortgage Loan (and, to the Seller's knowledge, no event has
occurred which, with the passage of time or the giving of notice, or both, would
constitute any of the foregoing) under the documents evidencing or securing the
Mortgage Loan, in any such case to the extent the same materially and adversely
affects the value of the Mortgage Loan and the related Mortgaged Property;
provided, however, that this representation and warranty does not address or
otherwise cover any default, breach, violation or event of acceleration that
specifically pertains to any matter otherwise covered by any other
representation and warranty made by the Seller in any of paragraphs 3, 7, 12,
14, 15, 16, 17, 18, 22 and 30 of this Exhibit 2.

            28. Inspections. The Seller (or if the Seller is not the originator,
the originator of the Mortgage Loan) has inspected or caused to be inspected
each Mortgaged Property in connection with the origination of the related
Mortgage Loan.

            29. Local Law Compliance. To the best of Seller's knowledge, based
on due diligence performed at origination that was considered reasonable by
prudent commercial mortgage lenders in the lending area where the Mortgaged
Property is located, the improvements located on or forming part of each
Mortgaged Property comply with applicable zoning laws and ordinances, or
constitute a legal non-conforming use or structure or, if any such improvement
does not so comply, such non-compliance does not materially and adversely affect
the value of the related Mortgaged Property, such value as determined by the
appraisal or internal or external market study performed at origination.

            30. Junior Liens. None of the Mortgage Loans permits the related
Mortgaged Property to be encumbered by any lien (other than a Permitted
Encumbrance) junior to or of equal priority with the lien of the related
Mortgage without the prior written consent of the holder thereof or the
satisfaction of debt service coverage or similar criteria specified therein. The
Seller has no knowledge that any of the Mortgaged Properties is encumbered by
any lien junior to the lien of the related Mortgage.

            31. Actions Concerning Mortgage Loans. To the knowledge of the
Seller, there are no actions, suits or proceedings before any court,
administrative agency or arbitrator concerning any Mortgage Loan, Mortgagor or
related Mortgaged Property that could reasonably be expected to adversely affect
title to the Mortgaged Property or the validity or enforceability of the related
Mortgage or that could reasonably be expected to materially and adversely affect
the value of the Mortgaged Property as security for the Mortgage Loan or the use
for which the premises were intended.

            32. Servicing. The servicing and collection practices used by the
Seller or any prior holder or servicer of each Mortgage Loan have been in all
material respects legal, proper and prudent and have met customary industry
standards utilized by commercial lending institutions in the area where the
related Mortgaged Property is located.

            33. Licenses and Permits. To the Seller's knowledge, based on due
diligence that it customarily performs in the origination of comparable mortgage
loans, as of the date of origination of each Mortgage Loan, and to Seller's
knowledge, as of the Closing Date, based on servicing procedures customarily
performed in the Seller's servicing of the Mortgage Loans during the period in
which Seller owned each such Mortgage Loan, the related Mortgagor was in
possession of all material licenses, permits and franchises required by
applicable law for the ownership and operation of the related Mortgaged Property
as it was then operated.

            34. Collateral in Trust. The Mortgage Note for each Mortgage Loan is
not secured by a pledge of any collateral that has not been assigned to the
Purchaser.

            35. Due on Sale/Due on Encumbrance. Each Mortgage Loan contains a
"due on sale" clause, which provides for the acceleration of the payment of the
unpaid principal balance of the Mortgage Loan if, without prior written consent
of the holder of the Mortgage, the property subject to the Mortgage or any
material portion thereof, is transferred, sold or encumbered by a junior
mortgage or deed of trust; provided, however, that certain Mortgage Loans
provide a mechanism for the assumption of the loan by a third party upon the
Mortgagor's satisfaction of certain conditions precedent, and upon payment of a
transfer fee, if any, or transfer of interests in the Mortgagor or constituent
entities of the Mortgagor to a third party or parties related to the Mortgagor
upon the Mortgagor's satisfaction of certain conditions precedent.

            36. Non-Recourse Exceptions. The Mortgage Loan documents for each
Mortgage Loan either provide that (a) such Mortgage Loan is fully recourse to
the Mortgagor or (b) such Mortgage Loan constitutes the non-recourse obligations
of the related Mortgagor and non-recourse guarantors, if any, except that either
(i) such provision does not apply in the case of fraud or willful
misrepresentation by the Mortgagor, misappropriation of rents, insurance
proceeds or condemnation awards and breaches of the environmental covenants in
the Mortgage Loan documents or (ii) such documents provide that the Mortgagor
shall be liable to the holder of the Mortgage Loan for losses incurred as a
result of fraud by the Mortgagor. Except as set forth on Schedule 3 attached
hereto, either the Mortgagor or a guarantor with respect to each Mortgage Loan
is a natural person.

            37. Underwriting Policies. Each Mortgage Loan was either originated
by the Seller or an affiliate thereof, and each such origination of a Mortgage
Loan substantially complied with the Seller's underwriting policies in effect as
of such Mortgage Loan's origination date.

            38. REMIC Eligibility. Each Mortgage Loan is a "qualified mortgage"
as such term is defined in Section 860G(a)(3) of the Code (without regard to
Treasury Regulations Section 1.860G-2(f)(2), which treats certain defective
mortgage loans as qualified mortgages). Each Mortgaged Property will qualify as
foreclosure property within the meaning of Section 856(e) of the Code if
obtained by foreclosure or deed in lieu of foreclosure.

            39. Reserved.

            40. Prepayment Penalties. Each prepayment penalty or yield
maintenance premium is consistent with those charged by the Seller in its
customary lending practices with respect to loans of the size and character of
the Mortgage Loans.

            41. Loan Provisions. No Mortgage Loan contains a provision that by
its terms would automatically or at the unilateral option of the Mortgagor cause
such Mortgage Loan not be a "qualified mortgage" as such term is defined in
Section 860G(a)(3) of the Code.

            42. Single Purpose Entity. The Mortgagor on each Mortgage Loan
listed on Schedule 4 attached hereto, was, as of the origination of the Mortgage
Loan, a Single Purpose Entity. For this purpose, a "Single Purpose Entity" shall
mean an entity, other than an individual, whose organizational documents provide
(or which entity covenanted in the Mortgage Loan documents) substantially to the
effect that it was formed or organized solely for the purpose of owning and
operating one or more of the Mortgaged Properties securing the Mortgage Loans
and prohibit it from engaging in any business unrelated to such Mortgaged
Property or Properties, and whose organizational documents further provide, or
which entity represented or covenanted in the related Mortgage Loan documents,
substantially to the effect that it does not have (or will not obtain) any
assets other than those related to its interest in and operation of such
Mortgaged Property or Properties, or any indebtedness other than as permitted by
the related Mortgage(s) or the other related Mortgage Loan documents, that it
has its own books and records and accounts separate and apart from any other
person, and that it holds itself out as a legal entity, separate and apart from
any other person.

            43. Defeasance and Assumption Costs. If the related Mortgage Loan
Documents provide for defeasance, such documents provide that the related
Mortgagor is responsible for the payment of all reasonable costs and expenses of
Lender incurred in connection with the defeasance of such Mortgage Loan and the
release of the related Mortgaged Property. The related Mortgage Loan Documents
require the related Mortgagor to pay all reasonable costs and expenses of Lender
associated with the approval of an assumption of such Mortgage Loan.

            44. Defeasance. No Mortgage Loan provides that it can be defeased
prior to the date that is two years after the Closing Date.

<PAGE>

                 Schedule 1 to Mortgage Loan Purchase Agreement
                       (Environmental Insurance Policies)

            As required by representation number 12(e) (Environmental
Conditions), the following is a list of Mortgage Loans that are the subject of a
secured creditor impaired property policy or a commercial real estate pollution
liability policy: None.

<PAGE>

                 Schedule 2 to Mortgage Loan Purchase Agreement
                              (Windstorm Insurance)

            As required by representation number 14 (Insurance), the following
is a list of Mortgage Loans for which the applicable Seller received evidence at
origination that the related Mortgaged Property was insured by a fire and
extended perils insurance policy providing coverage for windstorm: All of the
Mortgage Loans provide coverage for windstorm.

<PAGE>

                 Schedule 3 to Mortgage Loan Purchase Agreement
                         (Non-Natural Person Guarantors)

            As required by representation number 36 (Non-Recourse Exceptions),
the following is a list of Mortgage Loans for which either the Mortgagor or a
guarantor with respect to the related Mortgage Loan is not a natural person:

            Loan No. 125 - Winn-Dixie -Kingsland; Loan No. 124 Winn-Dixie
Supermarket; Loan No. 121 - Colorado Club Office Building; Loan No. 73 - McLean
Ridge II; Loan No. 72 - McLean Ridge I; Loan No. 44 - Park Center; Loan No. 109
- Cypress Plaza; Loan No. 65 - Governor Morris Office Center; Loan No. 78 -
Hi-Tech I and 2; Loan No. 68 - American Plaza I; Loan No. 100 - Bristol Office
Building; Loan No. 62 - McLean Ridge III; Loan No. 63 - McLean Ridge IV; Loan
No. 66 - Abbott's Bridge Station Shopping Center; Loan No. 104 - Normandy Square
Shopping Center; Loan No. 70 - Admiral's Crossing Shopping Center; Loan No. 117
- Winn-Dixie - Marketplace; and Loan No. 76 - I-370 Warehouse.

<PAGE>

                 Schedule 4 to Mortgage Loan Purchase Agreement
                            (Single Purpose Entities)

            As required by representation number 42 (Single Purpose Entities),
the following is a list of Mortgage Loans for which the related Mortgagor was,
as of the origination date, a Single Purpose Entity: None.

<PAGE>

                                   Schedule A

                  Exceptions to Representations and Warranties

            The following exceptions are applicable with respect to the
representations and warranties in Exhibit 2 made by the Seller with respect to
the Mortgage Loans identified in these exceptions.

      1)    The following Mortgage Loans are exceptions to representation number
            6 (Mortgage Status; Waivers and Modifications): Loan No. 117 -
            Winn-Dixie Marketplace and Loan No. 118 - Winn-Dixie (#663).
            Proposed loan modifications were sent to the respective borrowers on
            June 19, 2002 and June 26, 2002, respectively, for the purpose of
            amending the language in the respective notes so that effective as
            of the date of the respective notes, interest is computed on the
            basis of a 360-day year having twelve 30-day months.

      2)    The following Mortgage Loan is an exception to representation number
            7 (Condition of Property; Condemnation): Loan No. 125 - Winn-Dixie -
            Kingsland. A property inspection report was not prepared at
            origination.

      3)    The following Mortgage Loans are exceptions to representation number
            14 (Insurance): Loan No. 125 - Winn-Dixie Kingsland; Loan No. 118 -
            Winn Dixie (#663); Loan No. 124 - Winn Dixie Supermarket; Loan No.
            117 - Winn Dixie Marketplace; and Loan No. 107 - Rite Aid Drugstore
            - Monroe. These loans permit the borrower's tenant under the terms
            of the applicable lease to self insure the insurance referenced in
            said representation. Notwithstanding such self-insurance right, at
            origination, State Farm received evidence of fire and extended
            perils coverage as referenced in said representation and State Farm
            also received evidence of self-insurance as to a portion of the
            required liability coverage.

      4)    The following Mortgage Loan is an exception to representation number
            25 (Releases of Mortgaged Property): Loan No. 74 - Winn Dixie. The
            related Mortgage contains a collateral release provision in which a
            portion of the security property can be released from the lien of
            the Mortgage under certain conditions. The loan is partially secured
            by a parcel of land on which a Wendy's restaurant is located. The
            borrower leases the property to Wendy's of N.E. Florida, Inc. The
            related lease grants to Wendy's an option to purchase the parcel
            demised to it in the lease. The Mortgage provides that if Wendy's
            exercises the option to purchase, the Wendy's parcel can be released
            from the lien of the Mortgage upon satisfaction of specified
            conditions and the payment of an amount equal to the greater of (i)
            the gross amount of the proceeds received by the borrower from the
            sale of the Wendy's parcel; or (ii) the amount equal to 10 times the
            fixed annual rent payable under the terms of the lease as of the
            date that Wendy's exercises the option to purchase, less, in either
            case, the amount of closing costs actually incurred by the borrower.
            Therefore, while the loan documents associated with this loan
            require the payment of a release price, there is no provision for
            prepayment consideration.

      5)    The following Mortgage Loan is an exception to representation number
            30 (Junior Liens): Loan No. 104 - Normandy Square Shopping Center
            has a junior lien which is permitted under the related loan
            documents.

            The following Mortgage Loans are exceptions to representation number
43 (Defeasance and Assumption Costs): Loan Nos. 17-26 - Joe Scott Portfolio;
Loan No. 125 - Winn-Dixie - Kingsland; Loan No. 117 - Winn-Dixie Marketplace;
and Loan No. 70 - Admiral's Crossing Shopping Center. The loan documents do not
require the borrower to pay all reasonable costs and expenses of lender
associated with the approval of an assumption of the loan.

<PAGE>

                                   Schedule B

    List of Mortgagors that are Third-Party Beneficiaries Under Section 5(b)

1.    Mortgage Loan Numbers 17-26
      Related Mortgagors: Scott Ballas Partnership, Joe H. Scott, Sr, and
      Loretta A. Scott, Crown Diversified Industries Corp., Spirit North
      Partnership

2.    Mortgage Loan Numbers 62-63
      Related Mortgagor: Nottingham Village, Inc.

3.    Mortgage Loan Numbers 72-73
      Related Mortgagor: Nottingham Village, Inc.

<PAGE>

                                    EXHIBIT 3

                               PRICING FORMULATION

          Purchase Price                                $261,983,475

<PAGE>

                                    EXHIBIT 4

                                  BILL OF SALE

            1.    PARTIES. The parties to this Bill of Sale are the following:

                  Seller:           State Farm Life Insurance Company
                  Purchaser:        Morgan Stanley Dean Witter Capital I Inc.

            2. SALE. For value received, the Seller hereby conveys to the
Purchaser, without recourse, all right, title and interest in and to the
Mortgage Loans identified on Exhibit 1 (the "Mortgage Loan Schedule") to the
Mortgage Loan Purchase Agreement, dated as of June 1, 2002 (the "Mortgage Loan
Purchase Agreement"), between the Seller and the Purchaser and all of the
following property:

            (a) All accounts, general intangibles, chattel paper, instruments,
      documents, money, deposit accounts, certificates of deposit, goods,
      letters of credit, advices of credit and investment property consisting
      of, arising from or relating to any of the following property: the
      Mortgage Loans identified on the Mortgage Loan Schedule including the
      related Mortgage Notes, Mortgages, security agreements, and title, hazard
      and other insurance policies, all distributions with respect thereto
      payable after the Cut-Off Date, all substitute or replacement Mortgage
      Loans and all distributions with respect thereto, and the Mortgage Files;

            (b) All accounts, general intangibles, chattel paper, instruments,
      documents, money, deposit accounts, certificates of deposit, goods,
      letters of credit, advices of credit, investment property, and other
      rights arising from or by virtue of the disposition of, or collections
      with respect to, or insurance proceeds payable with respect to, or claims
      against other Persons with respect to, all or any part of the collateral
      described in clause (a) above (including any accrued discount realized on
      liquidation of any investment purchased at a discount); and

            (c) All cash and non-cash proceeds of the collateral described in
      clauses (a) and (b) above.

            3. PURCHASE PRICE. The amount and other consideration set forth on
Exhibit 3 to the Mortgage Loan Purchase Agreement.

            4. DEFINITIONS. Terms used but not defined herein shall have the
meanings assigned to them in the Mortgage Loan Purchase Agreement.

<PAGE>

            IN WITNESS WHEREOF, each of the parties hereto has caused this Bill
of Sale to be duly executed and delivered on this ___ day of June, 2002.

SELLER:                                 STATE FARM LIFE INSURANCE COMPANY

                                        By: ___________________________________
                                            Name:
                                            Title:

PURCHASER:                              MORGAN STANLEY DEAN WITTER
                                        CAPITAL I INC.

                                        By: ___________________________________
                                            Name:
                                            Title:

<PAGE>

                                    EXHIBIT 5

                        FORM OF LIMITED POWER OF ATTORNEY

THIS DOCUMENT PREPARED BY,
AND AFTER RECORDING RETURN TO:

Lend Lease Asset Management, L.P.
700 North Pearl Street, Suite 2400
Dallas, Texas 75201
Attention: Michael O'Hanlon

LaSalle Bank National Association
135 South LaSalle Street, Suite 1625
Chicago, Illinois 60603
Attention: Asset-Backed Securities Trust Services Group

--------------------------------------------------------------------------------

                            LIMITED POWER OF ATTORNEY

            Know all persons by these presents; that the undersigned, having an
address of [MORTGAGE LOAN SELLER'S ADDRESS] (the "Seller"), being duly empowered
and authorized to do so, does hereby make, constitute and appoint Lend Lease
Asset Management, L.P., having an address of 700 North Pearl Street, Suite 2400,
Dallas, Texas 75201, Attention: Michael O'Hanlon (the "Special Servicer") and
LaSalle Bank National Association, having an address of 135 South LaSalle
Street, Suite 1625, Chicago, Illinois 60603, Attention: Asset-Backed Securities
Trust Services Group--Morgan Stanley Dean Witter Capital I Inc., Series 2002-IQ2
(the "Trustee") as the true and lawful attorneys-in-fact for the undersigned, in
its name, place and stead, and for its use and benefit:

            1. To empower the Trustee and, in the event of the failure or
incapacity of the Trustee, the Special Servicer, to submit for recording, at the
expense of the Seller, any mortgage loan documents required to be recorded as
described in the Pooling and Servicing Agreement and any intervening assignments
with evidence of recording thereon that are required to be included in the
Mortgage File (so long as original counterparts have previously been delivered
to the Trustee).

            2. This power of attorney shall be limited to the above-mentioned
exercise of power.

            3. This instrument is to be construed and interpreted as a limited
power of attorney. The enumeration of specific items, rights, acts or powers
herein is not intended to, nor does it give rise to, and it is not intended to
be construed as, a general power of attorney.

            4. The rights, power of authority of said attorney herein granted
shall commence and be in full force and effect on the date hereof and such
rights, powers and authority shall remain in full force and effect until the
termination of the Pooling and Servicing Agreement, dated as of June 1, 2002
(the "Pooling and Servicing Agreement"), among Morgan Stanley Dean Witter
Capital I Inc., as Depositor, ORIX Capital Markets, LLC, as Master Servicer, the
Special Servicer, the Trustee and ABN AMRO Bank N.V., as Fiscal Agent, with
respect to the Trust.

            Capitalized terms used herein but not defined herein shall have the
meanings assigned to them in the Pooling and Servicing Agreement.

<PAGE>

IN WITNESS WHEREOF, I have hereunto set my hand this ____ day of June, 2002.

Witnessed by:                           [SELLER]

___________________________             By:________________________
Print Name:                             Name:
                                        Title:

STATE OF______________________)

COUNTY OF_____________________)

On __________________________, before me, a Notary Public in and for said
county, personally appeared ________________________________, personally known
to me (or proved to me on the basis of satisfactory evidence) to be the person
whose name is subscribed to the within instrument and acknowledged to me that
he/she executed the same in his/her authorized capacity, and that by his/her
signature on the instrument the person acted and executed the instrument.
Witness my hand and official seal.

_______________________________________
Commission Expires:

<PAGE>

                                   EXHIBIT K-2

                   FORM OF MORTGAGE LOAN PURCHASE AGREEMENT II
                                    (MSDWMC)

<PAGE>

                                                                  EXECUTION COPY

                        MORTGAGE LOAN PURCHASE AGREEMENT
                                 (MSDWMC LOANS)

            Mortgage Loan Purchase Agreement ("Agreement"), dated as of June 1,
2002, between Morgan Stanley Dean Witter Mortgage Capital Inc. (the "Seller"),
and Morgan Stanley Dean Witter Capital I Inc. (the "Purchaser").

            The Seller agrees to sell and the Purchaser agrees to purchase
certain mortgage loans listed on Exhibit 1 hereto (the "Mortgage Loans") as
described herein. The Purchaser will convey the Mortgage Loans to a trust (the
"Trust") created pursuant to a Pooling and Servicing Agreement (the "Pooling and
Servicing Agreement"), to be dated as of June 1, 2002, between the Purchaser, as
depositor, ORIX Capital Markets, LLC, as master servicer (the "Master
Servicer"), Lend Lease Asset Management, L.P., as special servicer (the "Special
Servicer"), LaSalle Bank National Association, as trustee, paying agent and
certificate registrar (the "Trustee") and ABN AMRO Bank N.V., as fiscal agent
(the "Fiscal Agent"). In exchange for the Mortgage Loans and certain other
mortgage loans to be purchased by the Purchaser (collectively the "Other
Mortgage Loans"), the Trust will issue to the Depositor pass-through
certificates to be known as Morgan Stanley Dean Witter Capital I Inc.,
Commercial Mortgage Pass-Through Certificates, Series 2002-IQ2 (the
"Certificates"). The Certificates will be issued pursuant to the Pooling and
Servicing Agreement.

            Capitalized terms used herein but not defined herein shall have the
meanings assigned to them in the Pooling and Servicing Agreement.

            The Class A-1, Class A-2, Class A-3, Class B, Class C and Class D
Certificates (the "Public Certificates") will be sold by the Purchaser to Morgan
Stanley & Co. Incorporated and Credit Suisse First Boston Corporation (the
"Underwriters"), pursuant to an Underwriting Agreement, between the Purchaser
and the Underwriters, dated June 19, 2002 (the "Underwriting Agreement"), and
the Class X-1, Class X-2, Class E, Class F, Class G, Class H, Class J, Class K,
Class L, Class M, Class N, Class O, Class R-I, Class R-II and Class R-III
Certificates (the "Private Certificates") will be sold by the Purchaser to
Morgan Stanley & Co. Incorporated (the "Initial Purchaser") pursuant to a
Certificate Purchase Agreement, between the Purchaser and the Initial Purchaser,
dated June 19, 2002 (the "Certificate Purchase Agreement"). The Underwriters
will offer the Public Certificates for sale publicly pursuant to a Prospectus
dated June 6, 2002, as supplemented by a Prospectus Supplement dated June 19,
2002 (together, the "Prospectus Supplement"), and the Initial Purchaser will
offer the Private Certificates for sale in transactions exempt from the
registration requirements of the Securities Act of 1933 pursuant to a Private
Placement Memorandum dated June 19, 2002 (the "Memorandum").

            In consideration of the mutual agreements contained herein, the
Seller and the Purchaser hereby agree as follows:

            Section 1. Agreement to Purchase. The Seller agrees to sell, and the
Purchaser agrees to purchase, on a servicing released basis, the Mortgage Loans
identified on the schedule (the "Mortgage Loan Schedule") annexed hereto as
Exhibit 1, as such schedule may be amended to reflect the actual Mortgage Loans
accepted by the Purchaser pursuant to the terms hereof. The Cut-Off Date with
respect to the Mortgage Loans is June 1, 2002. The Mortgage Loans will have an
aggregate principal balance as of the close of business on the Cut-Off Date,
after giving effect to any payments due on or before such date, whether or not
received, of $183,468,216. The sale of the Mortgage Loans shall take place on
June 27, 2002 or such other date as shall be mutually acceptable to the parties
hereto (the "Closing Date"). The purchase price to be paid by the Purchaser for
the Mortgage Loans shall equal the amount set forth as such purchase price on
Exhibit 3 hereto. The purchase price shall be paid to the Seller by wire
transfer in immediately available funds on the Closing Date.

            On the Closing Date, the Purchaser will assign to the Trustee
pursuant to the Pooling and Servicing Agreement all of its right, title and
interest in and to the Mortgage Loans and its rights under this Agreement (to
the extent set forth in Section 14), and the Trustee shall succeed to such
right, title and interest in and to the Mortgage Loans and the Purchaser's
rights under this Agreement (to the extent set forth in Section 14).

            Section 2. Conveyance of Mortgage Loans. Effective as of the Closing
Date, subject only to receipt of the consideration referred to in Section 1
hereof and the satisfaction of the conditions specified in Sections 6 and 7
hereof, the Seller does hereby transfer, assign, set over and otherwise convey
to the Purchaser, without recourse, all the right, title and interest of the
Seller, subject to that certain Servicing Rights Purchase and Sale Agreement,
dated June 1, 2002, between the Seller and the Master Servicer, in and to the
Mortgage Loans identified on the Mortgage Loan Schedule as of the Closing Date.
The Mortgage Loan Schedule, as it may be amended from time to time on or prior
to the Closing Date, shall conform to the requirements of this Agreement and the
Pooling and Servicing Agreement. In connection with such transfer and
assignment, the Seller shall deliver to or on behalf of the Trustee, on behalf
of the Purchaser, on or prior to the Closing Date, the Mortgage Note (as
described in clause (a) below) for each Mortgage Loan and on or prior to the
fifth Business Day after the Closing Date, one limited power of attorney
substantially in the form attached hereto as Exhibit 5 in favor of the Trustee,
the Master Servicer and the Special Servicer to empower the Trustee and, in the
event of the failure or incapacity of the Trustee, the Master Servicer or the
Special Servicer, to submit for recording, at the expense of the Seller, any
mortgage loan documents required to be recorded as described in the Pooling and
Servicing Agreement and any intervening assignments with evidence of recording
thereon that are required to be included in the Mortgage Files (so long as
original counterparts have previously been delivered to the Trustee). The Seller
agrees to reasonably cooperate with the Trustee, the Master Servicer and the
Special Servicer in connection with any additional powers of attorney or
revisions thereto that are requested by such parties for purposes of such
recordation. The parties hereto agree that no such power of attorney shall be
used with respect to any Mortgage Loan by or under authorization by any party
hereto except to the extent that the absence of a document described in the
second preceding sentence with respect to such Mortgage Loan remains unremedied
as of the earlier of (i) the date that is 180 days following the delivery of
notice of such absence to the Seller, but in no event earlier than 18 months
from the Closing Date, and (ii) the date (if any) on which such Mortgage Loan
becomes a Specially Serviced Mortgage Loan. The Trustee shall submit such
documents, at the Seller's expense, after the periods set forth above, provided,
however, the Trustee shall not submit such assignments for recording if the
Seller produces evidence that it has sent any such assignment for recording and
certifies that the Seller is awaiting its return from the applicable recording
office. In addition, not later than the 30th day following the Closing Date, the
Seller shall deliver to or on behalf of the Trustee each of the remaining
documents or instruments specified below (with such exceptions as are permitted
by this Section) with respect to each Mortgage Loan (each, a "Mortgage File").
(The Seller acknowledges that the term "without recourse" does not modify the
duties of the Seller under Section 5 hereof.)

            All Mortgage Files, or portions thereof, delivered prior to the
Closing Date are to be held by or on behalf of the Trustee in escrow on behalf
of the Seller at all times prior to the Closing Date. The Mortgage Files shall
be released from escrow upon closing of the sale of the Mortgage Loans and
payments of the purchase price therefor as contemplated hereby. The Mortgage
File for each Mortgage Loan shall contain the following documents:

            (a) The original Mortgage Note bearing all intervening endorsements,
endorsed "Pay to the order of LaSalle Bank National Association, as Trustee for
Morgan Stanley Dean Witter Capital I Inc., Commercial Mortgage Pass-Through
Certificates, Series 2002-IQ2, without recourse, representation or warranty" or
if the original Mortgage Note is not included therein, then a lost note
affidavit, with a copy of the Mortgage Note attached thereto;

            (b) The original Mortgage, with evidence of recording thereon, and,
if the Mortgage was executed pursuant to a power of attorney, a certified true
copy of the power of attorney certified by the public recorder's office, with
evidence of recording thereon (if recording is customary in the jurisdiction in
which such power of attorney was executed), or certified by a title insurance
company or escrow company to be a true copy thereof; provided that if such
original Mortgage cannot be delivered with evidence of recording thereon on or
prior to the 45th day following the Closing Date because of a delay caused by
the public recording office where such original Mortgage has been delivered for
recordation or because such original Mortgage has been lost, the Seller shall
deliver or cause to be delivered to the Trustee a true and correct copy of such
Mortgage, together with (i) in the case of a delay caused by the public
recording office, an Officer's Certificate (as defined below) of the Seller
stating that such original Mortgage has been sent to the appropriate public
recording official for recordation or (ii) in the case of an original Mortgage
that has been lost after recordation, a certification by the appropriate county
recording office where such Mortgage is recorded that such copy is a true and
complete copy of the original recorded Mortgage;

            (c) The originals of all agreements modifying a Money Term or other
material modification, consolidation and extension agreements, if any, with
evidence of recording thereon, or if any such original modification,
consolidation or extension agreement has been delivered to the appropriate
recording office for recordation and either has not yet been returned on or
prior to the 45th day following the Closing Date with evidence of recordation
thereon or has been lost after recordation, a true copy of such modification,
consolidation or extension certified by the Seller together with (i) in the case
of a delay caused by the public recording office, an Officer's Certificate of
the Seller stating that such original modification, consolidation or extension
agreement has been dispatched or sent to the appropriate public recording
official for recordation or (ii) in the case of an original modification,
consolidation or extension agreement that has been lost after recordation, a
certification by the appropriate county recording office where such document is
recorded that such copy is a true and complete copy of the original recorded
modification, consolidation or extension agreement, and the originals of all
assumption agreements, if any;

            (d) An original Assignment of Mortgage for each Mortgage Loan, in
form and substance acceptable for recording, signed by the holder of record in
favor of "LaSalle Bank National Association, as Trustee for Morgan Stanley Dean
Witter Capital I Inc., Commercial Mortgage Pass-Through Certificates, Series
2002-IQ2";

            (e) Originals of all intervening assignments of Mortgage, if any,
with evidence of recording thereon or, if such original assignments of Mortgage
have been delivered to the appropriate recorder's office for recordation,
certified true copies of such assignments of Mortgage certified by the Seller,
or in the case of an original blanket intervening assignment of Mortgage
retained by the Seller, a copy thereof certified by the Seller or, if any
original intervening assignment of Mortgage has not yet been returned on or
prior to the 45th day following the Closing Date from the applicable recording
office or has been lost, a true and correct copy thereof, together with (i) in
the case of a delay caused by the public recording office, an Officer's
Certificate of the Seller stating that such original intervening assignment of
Mortgage has been sent to the appropriate public recording official for
recordation or (ii) in the case of an original intervening Assignment of
Mortgage that has been lost after recordation, a certification by the
appropriate county recording office where such assignment is recorded that such
copy is a true and complete copy of the original recorded intervening Assignment
of Mortgage;

            (f) If the related Assignment of Leases is separate from the
Mortgage, the original of such Assignment of Leases with evidence of recording
thereon or, if such Assignment of Leases has not been returned on or prior to
the 45th day following the Closing Date from the applicable public recording
office, a copy of such Assignment of Leases certified by the Seller to be a true
and complete copy of the original Assignment of Leases submitted for recording,
together with (i) an original of each assignment of such Assignment of Leases
with evidence of recording thereon and showing a complete recorded chain of
assignment from the named assignee to the holder of record, and if any such
assignment of such Assignment of Leases has not been returned from the
applicable public recording office, a copy of such assignment certified by the
Seller to be a true and complete copy of the original assignment submitted for
recording, and (ii) an original assignment of such Assignment of Leases, in
recordable form, signed by the holder of record in favor of "LaSalle Bank
National Association, as Trustee for Morgan Stanley Dean Witter Capital I Inc.,
Commercial Mortgage Pass-Through Certificates, Series 2002-IQ2," which
assignment may be effected in the related Assignment of Mortgage;

            (g) The original of each guaranty, if any, constituting additional
security for the repayment of such Mortgage Loan;

            (h) The original Title Insurance Policy, or in the event such
original Title Insurance Policy has not been issued, an original binder or
actual title commitment or a copy thereof certified by the title company with
the original Title Insurance Policy to follow within 180 days of the Closing
Date or a preliminary title report with an original Title Insurance Policy to
follow within 180 days of the Closing Date;

            (i) (A) UCC financing statements (together with all assignments
thereof) and (B) UCC-2 or UCC-3 financing statements to the Trustee executed and
delivered in connection with the Mortgage Loan;

            (j) Copies of the related ground lease(s), if any, to any Mortgage
Loan where the Mortgagor is the lessee under such ground lease and there is a
lien in favor of the mortgagee in such lease.

            (k) Copies of any loan agreements, lock-box agreements and
intercreditor agreements (including, without limitation, the One Seaport Plaza
Intercreditor Agreement and the Woodfield Intercreditor Agreement), if any,
related to any Mortgage Loan;

            (l) Either (A) the original of each letter of credit, if any,
constituting additional collateral for such Mortgage Loan, which shall be
assigned and delivered to the Trustee on behalf of the Trust with a copy to be
held by the Primary Servicer (or the Master Servicer), and applied, drawn,
reduced or released in accordance with documents evidencing or securing the
applicable Mortgage Loan, the Pooling and Servicing Agreement and the Primary
Servicing Agreement or (B) the original of each letter of credit, if any,
constituting additional collateral for such Mortgage Loan, which shall be held
by the applicable Primary Servicer (or the Master Servicer) on behalf of the
Trustee, with a copy to be held by the Trustee, and applied, drawn, reduced or
released in accordance with documents evidencing or securing the applicable
Mortgage Loan, the Pooling and Servicing Agreement and the Primary Servicing
Agreement (it being understood that the Seller has agreed (a) that the proceeds
of such letter of credit belong to the Trust, (b) to notify, on or before the
Closing Date, the bank issuing the letter of credit that the letter of credit
and the proceeds thereof belong to the Trust, and to use reasonable efforts to
obtain within 30 days (but in any event to obtain within 90 days) following the
Closing Date, an acknowledgement thereof by the bank (with a copy of such
acknowledgement to be sent to the Trustee) and (c) to indemnify the Trust for
any liabilities, charges, costs, fees or other expenses accruing from the
failure of the Seller to assign the letter of credit hereunder). In the case of
clause (B) above, any letter of credit held by the applicable Primary Servicer
(or Master Servicer) shall be held in its capacity as agent of the Trust, and if
the applicable Primary Servicer (or Master Servicer) sells its rights to service
the applicable Mortgage Loan, the applicable Primary Servicer (or Master
Servicer) has agreed to assign the applicable letter of credit to the Trust or
at the direction of the Special Servicer to such party as the Special Servicer
may instruct, in each case, at the expense of the applicable Primary Servicer
(or Master Servicer). The applicable Primary Servicer (or Master Servicer) has
agreed to indemnify the Trust for any loss caused by the ineffectiveness of such
assignment;

            (m) The original environmental indemnity agreement, if any, related
to any Mortgage Loan;

            (n) Third-party management agreements for hotels and mortgage
properties securing Mortgage Loans with a Cut-Off Date principal balance equal
to or greater than $20,000,000;

            (o) Any Environmental Insurance Policy; and

            (p) Any affidavit and indemnification agreement.

            The original of each letter of credit referred to in clause (l)
above shall be delivered to the Primary Servicer, the Master Servicer or the
Trustee (as the case may be) within 45 days of the Closing Date. In addition, a
copy of any ground lease shall be delivered to the Primary Servicer within 30
days of the Closing Date. Any failure to deliver any ground lease shall
constitute a document defect.

            "Officer's Certificate" shall mean a certificate signed by one or
more of the Chairman of the Board, any Vice Chairman, the President, any Senior
Vice President, any Vice President, any Assistant Vice President, any Treasurer
or any Assistant Treasurer.

            The Assignments of Mortgage and assignment of Assignment of Leases
referred to in clauses (d), (e) and (f) may be in the form of a single
instrument assigning the Mortgage and the Assignment of Leases to the extent
permitted by applicable law. To avoid the unnecessary expense and administrative
inconvenience associated with the execution and recording or filing of multiple
assignments of mortgages, assignments of leases (to the extent separate from the
mortgages) and assignments of UCC financing statements, the Seller shall
execute, in accordance with the third succeeding paragraph, the assignments of
mortgages, the assignments of leases (to the extent separate from the mortgages)
and the assignments of UCC financing statements relating to the Mortgage Loans
naming the Trustee on behalf of the Certificateholders as assignee.
Notwithstanding the fact that such assignments of mortgages, assignments of
leases (to the extent separate from the assignments of mortgages) and
assignments of UCC financing statements shall name the Trustee on behalf of the
Certificateholders as the assignee, the parties hereto acknowledge and agree
that the Mortgage Loans shall for all purposes be deemed to have been
transferred from the Seller to the Purchaser and from the Purchaser to the
Trustee on behalf of the Certificateholders.

            If the Seller cannot deliver, or cause to be delivered, as to any
Mortgage Loan, any of the documents and/or instruments referred to in clauses
(b), (c), (e) or (f), with evidence of recording thereon, solely because of a
delay caused by the public recording office where such document or instrument
has been delivered for recordation within such 45 day period, but the Seller
delivers a photocopy thereof (certified by the appropriate county recorder's
office to be a true and complete copy of the original thereof submitted for
recording), to the Trustee within such 45 day period, the Seller shall then
deliver within 90 days after the Closing Date the recorded document (or within
such longer period after the Closing Date as the Trustee may consent to, which
consent shall not be unreasonably withheld so long as the Seller is, as
certified in writing to the Trustee no less often than monthly, in good faith
attempting to obtain from the appropriate county recorder's office such original
or photocopy).

            The Trustee, as assignee or transferee of the Purchaser, shall be
entitled to all scheduled payments of principal due thereon after the Cut-Off
Date, all other payments of principal collected after the Cut-Off Date (other
than scheduled payments of principal due on or before the Cut-Off Date), and all
payments of interest on the Mortgage Loans allocable to the period commencing on
the Cut-Off Date. All scheduled payments of principal and interest due on or
before the Cut-Off Date and collected after the Cut-Off Date shall belong to the
Seller.

            Within 45 days following the Closing Date, the Seller shall deliver
and the Purchaser, the Trustee or the agents of either may submit or cause to be
submitted for recordation at the expense of the Seller, in the appropriate
public office for real property records, each assignment referred to in clauses
(d) and (f)(ii) above. Within 90 days following the Closing Date, the Seller
shall deliver and the Purchaser, the Trustee or the agents of either may submit
or cause to be submitted for filing, at the expense of the Seller, in the
appropriate public office for Uniform Commercial Code financing statements, the
assignment referred to in clause (i) above. If any such document or instrument
is lost or returned unrecorded or unfiled, as the case may be, because of a
defect therein, the Seller shall prepare a substitute therefor or cure such
defect, and the Seller shall, at its own expense (except in the case of a
document or instrument that is lost by the Trustee), record or file, as the case
may be, and deliver such document or instrument in accordance with this Section
2.

            Documents that are in the possession of the Seller, its agents or
its subcontractors that relate to the Mortgage Loans or Companion Loans and that
are not required to be delivered to the Trustee shall be shipped by the Seller
to or at the direction of the Master Servicer, on behalf of the Purchaser, on or
prior to the 75th day after the Closing Date, in accordance with Section 3.1 of
the Primary Servicing Agreement, if applicable.

            The documents required to be delivered to the Master Servicer (or in
the alternative, the Primary Servicer) shall include, to the extent required to
be (and actually) delivered to the Seller pursuant to the applicable Mortgage
Loan documents, copies of the following items: the Mortgage Note, any Mortgage,
the Assignment of Leases and the Assignment of Mortgage, any guaranty/indemnity
agreement, any loan agreement, the insurance policies or certificates, as
applicable, the property inspection reports, any financial statements on the
property, any escrow analysis, the tax bills, the Appraisal, the environmental
report, the engineering report, the asset summary, financial information on the
Mortgagor/sponsor and any guarantors, any letters of credit, any intercreditor
agreement and any Environmental Insurance Policies. Delivery of any of the
foregoing documents to the Primary Servicer shall be deemed a delivery to the
Master Servicer and satisfy Seller's obligations under this sub-paragraph.

            Upon the sale of the Mortgage Loans by the Seller to the Purchaser
pursuant to this Agreement, the ownership of each Mortgage Note, Mortgage and
the other contents of the related Mortgage File shall be vested in the Purchaser
and its assigns, and the ownership of all records and documents with respect to
the related Mortgage Loan prepared by or that come into the possession of the
Seller shall immediately vest in the Purchaser and its assigns, and shall be
delivered promptly by the Seller to or on behalf of either the Trustee or the
Master Servicer as set forth herein, subject to the requirements of the Primary
Servicing Agreement. The Seller's and Purchaser's records shall reflect the
transfer of each Mortgage Loan from the Seller to the Purchaser and its assigns
as a sale.

            It is the express intent of the parties hereto that the conveyance
of the Mortgage Loans and related property to the Purchaser by the Seller as
provided in this Section 2 be, and be construed as, an absolute sale of the
Mortgage Loans and related property. It is, further, not the intention of the
parties that such conveyance be deemed a pledge of the Mortgage Loans and
related property by the Seller to the Purchaser to secure a debt or other
obligation of the Seller. However, in the event that, notwithstanding the intent
of the parties, the Mortgage Loans or any related property are held to be the
property of the Seller, or if for any other reason this Agreement is held or
deemed to create a security interest in the Mortgage Loans or any related
property, then:

            (i) this Agreement shall be deemed to be a security agreement; and

            (ii) the conveyance provided for in this Section 2 shall be deemed
      to be a grant by the Seller to the Purchaser of a security interest in all
      of the Seller's right, title, and interest, whether now owned or hereafter
      acquired, in and to:

                  (A) All accounts, general intangibles, chattel paper,
            instruments, documents, money, deposit accounts, certificates of
            deposit, goods, letters of credit, advices of credit and investment
            property consisting of, arising from or relating to any of the
            following property: the Mortgage Loans identified on the Mortgage
            Loan Schedule, including the related Mortgage Notes, Mortgages,
            security agreements, and title, hazard and other insurance policies,
            all distributions with respect thereto payable after the Cut-Off
            Date, all substitute or replacement Mortgage Loans and all
            distributions with respect thereto, and the Mortgage Files;

                  (B) All accounts, general intangibles, chattel paper,
            instruments, documents, money, deposit accounts, certificates of
            deposit, goods, letters of credit, advices of credit, investment
            property and other rights arising from or by virtue of the
            disposition of, or collections with respect to, or insurance
            proceeds payable with respect to, or claims against other Persons
            with respect to, all or any part of the collateral described in
            clause (A) above (including any accrued discount realized on
            liquidation of any investment purchased at a discount); and

                  (C) All cash and non-cash proceeds of the collateral described
            in clauses (A) and (B) above.

            The possession by the Purchaser or its designee of the Mortgage
Notes, the Mortgages, and such other goods, letters of credit, advices of
credit, instruments, money, documents, chattel paper or certificated securities
shall be deemed to be possession by the secured party or possession by a
purchaser for purposes of perfecting the security interest pursuant to the
Uniform Commercial Code (including, without limitation, Sections 9-305 and 9-115
thereof) as in force in the relevant jurisdiction. Notwithstanding the
foregoing, the Seller makes no representation or warranty as to the perfection
of any such security interest.

            Notifications to Persons holding such property, and acknowledgments,
receipts, or confirmations from persons holding such property, shall be deemed
to be notifications to, or acknowledgments, receipts or confirmations from,
securities intermediaries, bailees or agents of, or Persons holding for, the
Purchaser or its designee, as applicable, for the purpose of perfecting such
security interest under applicable law.

            The Seller shall, to the extent consistent with this Agreement, take
such reasonable actions as may be necessary to ensure that, if this Agreement
were deemed to create a security interest in the property described above, such
security interest would be deemed to be a perfected security interest of first
priority under applicable law and will be maintained as such throughout the term
of the Agreement. In such case, the Seller shall file all filings necessary to
maintain the effectiveness of any original filings necessary under the Uniform
Commercial Code as in effect in any jurisdiction to perfect such security
interest in such property. In connection herewith, the Purchaser shall have all
of the rights and remedies of a secured party and creditor under the Uniform
Commercial Code as in force in the relevant jurisdiction.

            Notwithstanding anything to the contrary contained herein, and
subject to Section 2(a), the Purchaser shall not be required to purchase any
Mortgage Loan as to which any Mortgage Note (endorsed as described in clause (a)
above) required to be delivered to or on behalf of the Trustee or the Master
Servicer pursuant to this Section 2 on or before the Closing Date is not so
delivered, or is not properly executed or is defective on its face, and the
Purchaser's acceptance of the related Mortgage Loan on the Closing Date shall in
no way constitute a waiver of such omission or defect or of the Purchaser's or
its successors' and assigns' rights in respect thereof pursuant to Section 5.

            Section 3. Examination of Mortgage Files and Due Diligence Review.
The Seller shall (i) deliver to the Purchaser on or before the Closing Date a
diskette acceptable to the Purchaser that contains such information about the
Mortgage Loans as may be reasonably requested by the Purchaser, (ii) deliver to
the Purchaser investor files (collectively the "Collateral Information") with
respect to the assets proposed to be included in the Mortgage Pool and made
available at the Purchaser's headquarters in New York, and (iii) otherwise
cooperate fully with the Purchaser in its examination of the credit files,
underwriting documentation and Mortgage Files for the Mortgage Loans and its due
diligence review of the Mortgage Loans. The fact that the Purchaser has
conducted or has failed to conduct any partial or complete examination of the
credit files, underwriting documentation or Mortgage Files for the Mortgage
Loans shall not affect the right of the Purchaser or the Trustee to cause the
Seller to cure any Material Document Defect or Material Breach (each as defined
below), or to repurchase or replace the defective Mortgage Loans pursuant to
Section 5 of this Agreement.

            On or prior to the Closing Date, the Seller shall allow
representatives of any of the Purchaser, each Underwriter, the Initial
Purchaser, the Trustee, the Special Servicer and each Rating Agency to examine
and audit all books, records and files pertaining to the Mortgage Loans, the
Seller's underwriting procedures and the Seller's ability to perform or observe
all of the terms, covenants and conditions of this Agreement. Such examinations
and audits shall take place at one or more offices of the Seller during normal
business hours and shall not be conducted in a manner that is disruptive to the
Seller's normal business operations upon reasonable prior advance notice. In the
course of such examinations and audits, the Seller will make available to such
representatives of any of the Purchaser, each Underwriter, the Initial
Purchaser, the Trustee, the Special Servicer and each Rating Agency reasonably
adequate facilities, as well as the assistance of a sufficient number of
knowledgeable and responsible individuals who are familiar with the Mortgage
Loans and the terms of this Agreement, and the Seller shall cooperate fully with
any such examination and audit in all material respects. On or prior to the
Closing Date, the Seller shall provide the Purchaser with all material
information regarding the Seller's financial condition and access to
knowledgeable financial or accounting officers for the purpose of answering
questions with respect to the Seller's financial condition, financial statements
as provided to the Purchaser or other developments affecting the Seller's
ability to consummate the transactions contemplated hereby or otherwise
affecting the Seller in any material respect. Within 45 days after the Closing
Date, the Seller shall provide the Master Servicer or Primary Servicer, if
applicable, with any additional information identified by the Master Servicer or
Primary Servicer, if applicable, as necessary to complete the CMSA Property
File, to the extent that such information is available.

            The Purchaser may exercise any of its rights hereunder through one
or more designees or agents; provided the Purchaser has provided the Seller with
prior notice of the identity of such designee or agent.

            The Purchaser shall keep confidential any information regarding the
Seller and the Mortgage Loans that has been delivered into the Purchaser's
possession and that is not otherwise publicly available; provided, however, that
such information shall not be kept confidential (and the right to require
confidentiality under any confidentiality agreement is hereby waived) to the
extent such information is required to be included in the Memorandum or the
Prospectus Supplement or the Purchaser is required by law or court order to
disclose such information. If the Purchaser is required to disclose in the
Memorandum or the Prospectus Supplement confidential information regarding the
Seller as described in the preceding sentence, the Purchaser shall provide to
the Seller a copy of the proposed form of such disclosure prior to making such
disclosure and the Seller shall promptly, and in any event within two Business
Days, notify the Purchaser of any inaccuracies therein, in which case the
Purchaser shall modify such form in a manner that corrects such inaccuracies. If
the Purchaser is required by law or court order to disclose confidential
information regarding the Seller as described in the second preceding sentence,
the Purchaser shall notify the Seller and cooperate in the Seller's efforts to
obtain a protective order or other reasonable assurance that confidential
treatment will be accorded such information and, if in the absence of a
protective order or such assurance, the Purchaser is compelled as a matter of
law to disclose such information, the Purchaser shall, prior to making such
disclosure, advise and consult with the Seller and its counsel as to such
disclosure and the nature and wording of such disclosure and the Purchaser shall
use reasonable efforts to obtain confidential treatment therefor.
Notwithstanding the foregoing, if reasonably advised by counsel that the
Purchaser is required by a regulatory agency or court order to make such
disclosure immediately, then the Purchaser shall be permitted to make such
disclosure without prior review by the Seller.

            Section 4. Representations and Warranties of the Seller and the
Purchaser.

            (a) To induce the Purchaser to enter into this Agreement, the Seller
hereby makes for the benefit of the Purchaser and its assigns with respect to
each Mortgage Loan as of the date hereof (or as of such other date specifically
set forth in the particular representation and warranty) each of the
representations and warranties set forth on Exhibit 2 hereto, except as
otherwise set forth on Schedule A attached hereto, and hereby further represents
and warrants to the Purchaser as of the date hereof that:

            (i) The Seller is duly organized and is validly existing as a
      corporation in good standing under the laws of the State of New York. The
      Seller has the requisite power and authority and legal right to own the
      Mortgage Loans and to transfer and convey the Mortgage Loans to the
      Purchaser and has the requisite power and authority to execute and
      deliver, engage in the transactions contemplated by, and perform and
      observe the terms and conditions of, this Agreement.

            (ii) This Agreement has been duly and validly authorized, executed
      and delivered by the Seller, and assuming the due authorization, execution
      and delivery hereof by the Purchaser, this Agreement constitutes the
      valid, legal and binding agreement of the Seller, enforceable in
      accordance with its terms, except as such enforcement may be limited by
      (A) laws relating to bankruptcy, insolvency, reorganization, receivership
      or moratorium, (B) other laws relating to or affecting the rights of
      creditors generally, (C) general equity principles (regardless of whether
      such enforcement is considered in a proceeding in equity or at law) or (D)
      public policy considerations underlying the securities laws, to the extent
      that such public policy considerations limit the enforceability of the
      provisions of this Agreement that purport to provide indemnification from
      liabilities under applicable securities laws.

            (iii) No consent, approval, authorization or order of, registration
      or filing with, or notice to, any governmental authority or court is
      required, under federal or state law, for the execution, delivery and
      performance of or compliance by the Seller with this Agreement, or the
      consummation by the Seller of any transaction contemplated hereby, other
      than (1) such qualifications as may be required under state securities or
      blue sky laws, (2) the filing or recording of financing statements,
      instruments of assignment and other similar documents necessary in
      connection with the Seller's sale of the Mortgage Loans to the Purchaser,
      (3) such consents, approvals, authorizations, qualifications,
      registrations, filings or notices as have been obtained and (4) where the
      lack of such consent, approval, authorization, qualification,
      registration, filing or notice would not have a material adverse effect on
      the performance by the Seller under this Agreement.

            (iv) Neither the transfer of the Mortgage Loans to the Purchaser,
      nor the execution, delivery or performance of this Agreement by the
      Seller, conflicts or will conflict with, results or will result in a
      breach of, or constitutes or will constitute a default under (A) any term
      or provision of the Seller's articles of organization or by-laws, (B) any
      term or provision of any material agreement, contract, instrument or
      indenture to which the Seller is a party or by which it or any of its
      assets is bound or results in the creation or imposition of any lien,
      charge or encumbrance upon any of its property pursuant to the terms of
      any such indenture, mortgage, contract or other instrument, other than
      pursuant to this Agreement, or (C) after giving effect to the consents or
      taking of the actions contemplated in subsection (iii), any law, rule,
      regulation, order, judgment, writ, injunction or decree of any court or
      governmental authority having jurisdiction over the Seller or its assets,
      except where in any of the instances contemplated by clauses (B) or (C)
      above, any conflict, breach or default, or creation or imposition of any
      lien, charge or encumbrance, will not have a material adverse effect on
      the consummation of the transactions contemplated hereby by the Seller or
      its ability to perform its obligations and duties hereunder or result in
      any material adverse change in the business, operations, financial
      condition, properties or assets of the Seller, or in any material
      impairment of the right or ability of the Seller to carry on its business
      substantially as now conducted.

            (v) There are no actions or proceedings against, or investigations
      of, the Seller pending or, to the Seller's knowledge, threatened in
      writing against the Seller before any court, administrative agency or
      other tribunal, the outcome of which could reasonably be expected to
      materially and adversely affect the transfer of the Mortgage Loans to the
      Purchaser or the execution or delivery by, or enforceability against, the
      Seller of this Agreement or have an effect on the financial condition of
      the Seller that would materially and adversely affect the ability of the
      Seller to perform its obligations under this Agreement.

            (vi) On the Closing Date, the sale of the Mortgage Loans pursuant to
      this Agreement will effect a transfer by the Seller of all of its right,
      title and interest in and to the Mortgage Loans to the Purchaser.

            (vii) To the Seller's knowledge, the Seller's Information (as
      defined in that certain indemnification agreement, dated June 1, 2002,
      between the Seller, the Purchaser, the Underwriters and the Initial
      Purchaser (the "Indemnification Agreement")) relating to the Mortgage
      Loans does not contain any untrue statement of a material fact or omit to
      state a material fact necessary to make the statements therein, in the
      light of the circumstances under which they were made, not misleading.
      Notwithstanding anything contained herein to the contrary, this
      subparagraph (vii) shall run exclusively to the benefit of the Purchaser
      and no other party.

            To induce the Purchaser to enter into this Agreement, the Seller
hereby covenants that the foregoing representations and warranties and those set
forth on Exhibit 2 hereto will be true and correct in all material respects on
and as of the Closing Date with the same effect as if made on the Closing Date.

            Each of the representations, warranties and covenants made by the
Seller pursuant to this Section 4(a) shall survive the sale of the Mortgage
Loans and shall continue in full force and effect notwithstanding any
restrictive or qualified endorsement on the Mortgage Notes.

            (b) To induce the Seller to enter into this Agreement, the Purchaser
hereby represents and warrants to the Seller as of the date hereof:

            (i) The Purchaser is a corporation duly organized, validly existing,
      and in good standing under the laws of the State of Delaware with full
      power and authority to carry on its business as presently conducted by it.

            (ii) The Purchaser has full power and authority to acquire the
      Mortgage Loans, to execute and deliver this Agreement and to enter into
      and consummate all transactions contemplated by this Agreement. The
      Purchaser has duly and validly authorized the execution, delivery and
      performance of this Agreement and has duly and validly executed and
      delivered this Agreement. This Agreement, assuming due authorization,
      execution and delivery by the Seller, constitutes the valid and binding
      obligation of the Purchaser, enforceable against it in accordance with its
      terms, except as such enforceability may be limited by bankruptcy,
      insolvency, reorganization, moratorium and other similar laws affecting
      the enforcement of creditors' rights generally and by general principles
      of equity, regardless of whether such enforcement is considered in a
      proceeding in equity or at law.

            (iii) No consent, approval, authorization or order of, registration
      or filing with, or notice to, any governmental authority or court is
      required, under federal or state law, for the execution, delivery and
      performance of or compliance by the Purchaser with this Agreement, or the
      consummation by the Purchaser of any transaction contemplated hereby that
      has not been obtained or made by the Purchaser.

            (iv) Neither the purchase of the Mortgage Loans nor the execution,
      delivery and performance of this Agreement by the Purchaser will violate
      the Purchaser's certificate of incorporation or by-laws or constitute a
      default (or an event that, with notice or lapse of time or both, would
      constitute a default) under, or result in a breach of, any material
      agreement, contract, instrument or indenture to which the Purchaser is a
      party or that may be applicable to the Purchaser or its assets.

            (v) The Purchaser's execution and delivery of this Agreement and its
      performance and compliance with the terms of this Agreement will not
      constitute a violation of, any law, rule, writ, injunction, order or
      decree of any court, or order or regulation of any federal, state or
      municipal government agency having jurisdiction over the Purchaser or its
      assets, which violation could materially and adversely affect the
      condition (financial or otherwise) or the operation of the Purchaser or
      its assets or could materially and adversely affect its ability to perform
      its obligations and duties hereunder.

            (vi) There are no actions or proceedings against, or investigations
      of, the Purchaser pending or, to the Purchaser's knowledge, threatened
      against the Purchaser before any court, administrative agency or other
      tribunal, the outcome of which could reasonably be expected to adversely
      affect the transfer of the Mortgage Loans, the issuance of the
      Certificates, the execution, delivery or enforceability of this Agreement
      or have an effect on the financial condition of the Purchaser that would
      materially and adversely affect the ability of the Purchaser to perform
      its obligation under this Agreement.

            (vii) The Purchaser has not dealt with any broker, investment
      banker, agent or other person, other than the Seller, the Underwriters,
      the Initial Purchaser and their respective affiliates, that may be
      entitled to any commission or compensation in connection with the sale of
      the Mortgage Loans or consummation of any of the transactions contemplated
      hereby.

            To induce the Seller to enter into this Agreement, the Purchaser
hereby covenants that the foregoing representations and warranties will be true
and correct in all material respects on and as of the Closing Date with the same
effect as if made on the Closing Date.

            Each of the representations and warranties made by the Purchaser
pursuant to this Section 4(b) shall survive the purchase of the Mortgage Loans.

            Section 5. Remedies Upon Breach of Representations and Warranties
Made by the Seller.

            (a) It is hereby acknowledged that the Seller shall make for the
benefit of the Trustee on behalf of the holders of the Certificates, whether
directly or by way of the Purchaser's assignment of its rights hereunder to the
Trustee, the representations and warranties set forth on Exhibit 2 hereto (each
as of the date hereof unless otherwise specified).

            (b) It is hereby further acknowledged that if any document required
to be delivered to the Trustee pursuant to Section 2 is not delivered as and
when required, not properly executed or is defective on its face, or if there is
a breach of any of the representations and warranties required to be made by the
Seller regarding the characteristics of the Mortgage Loans and/or the related
Mortgaged Properties as set forth in Exhibit 2 hereto, and in either case such
defect or breach, either (i) materially and adversely affects the interests of
the holders of the Certificates in the related Mortgage Loan, or (ii) both (A)
the document defect or breach materially and adversely affects the value of the
Mortgage Loan and (B) the Mortgage Loan is a Specially Serviced Mortgage Loan or
Rehabilitated Mortgage Loan (such a document defect described in the preceding
clause (i) or (ii), a "Material Document Defect" and such a breach described in
the preceding clause (i) or (ii) a "Material Breach"), the party discovering
such Material Document Defect or Material Breach shall promptly notify, in
writing, the other parties; provided that any breach of the representation and
warranty contained in paragraph (40) of such Exhibit 2 shall constitute a
Material Breach only if such prepayment premium or yield maintenance charge is
not deemed "customary" for commercial mortgage loans as evidenced by (i) an
opinion of tax counsel to such effect or (ii) a determination by the Internal
Revenue Service that such provision is not customary. Promptly (but in any event
within three Business Days) upon becoming aware of any such Material Document
Defect or Material Breach, the Master Servicer shall, and the Special Servicer
may, request that the Seller, not later than 85 days from the Seller's receipt
of the notice of such Material Document Defect or Material Breach, cure such
Material Document Defect or Material Breach, as the case may be, in all material
respects; provided, however, that if such Material Document Defect or Material
Breach, as the case may be, cannot be corrected or cured in all material
respects within such 85-day period, and such Material Document Defect or
Material Breach would not cause the Mortgage Loan to be other than a "qualified
mortgage"(as defined in the Code) but the Seller is diligently attempting to
effect such correction or cure, as certified by the Seller in an Officer's
Certificate delivered to the Trustee, then the cure period will be extended for
an additional 90 days unless, solely in the case of a Material Document Defect,
(x) the Mortgage Loan is then a Specially Serviced Mortgage Loan and a Servicing
Transfer Event has occurred as a result of a monetary default or as described in
clause (ii) or clause (v) of the definition of "Servicing Transfer Event" in the
Pooling and Servicing Agreement and (y) the Material Document Defect was
identified in a certification delivered to the Seller by the Trustee pursuant to
Section 2.2 of the Pooling and Servicing Agreement not less than 85 days prior
to the delivery of the notice of such Material Document Defect. The parties
acknowledge that neither delivery of a certification or schedule of exceptions
to the Seller pursuant to Section 2.2 of the Pooling and Servicing Agreement or
otherwise nor possession of such certification or schedule by the Seller shall,
in and of itself, constitute delivery of notice of any Material Document Defect
or knowledge or awareness by the Seller of any Material Document Defect listed
therein.

            The Seller hereby covenants and agrees that, if any such Material
Document Defect or Material Breach cannot be corrected or cured within the above
cure periods, the Seller shall, on or before the termination of such cure
periods, either (i) repurchase the affected Mortgage Loan or REO Mortgage Loan
from the Purchaser or its assignee at the Purchase Price as defined in the
Pooling and Servicing Agreement, or (ii) if within the two-year period
commencing on the Closing Date, at its option replace, without recourse, any
Mortgage Loan or REO Mortgage Loan to which such defect relates with a
Qualifying Substitute Mortgage Loan. If such Material Document Defect or
Material Breach would cause the Mortgage Loan to be other than a "qualified
mortgage" (as defined in the Code), then notwithstanding the previous sentence,
such repurchase or substitution must occur within 85 days from the earlier of
the date the Seller discovered or was notified of the defect. The Seller agrees
that any substitution shall be completed in accordance with the terms and
conditions of the Pooling and Servicing Agreement.

            If (i) a Mortgage Loan is to be repurchased or replaced as
contemplated above (a "Defective Mortgage Loan"), (ii) such Defective Mortgage
Loan is cross-collateralized and cross-defaulted with one or more other Mortgage
Loans ("Crossed Mortgage Loans") and (iii) the applicable document defect or
breach does not constitute a Material Document Defect or Material Breach, as the
case may be, as to such Crossed Mortgage Loans (without regard to this
paragraph), then the applicable document defect or breach (as the case may be)
shall be deemed to constitute a Material Document Defect or Material Breach, as
the case may be, as to each such Crossed Mortgage Loan for purposes of the above
provisions, and the Seller shall be obligated to repurchase or replace each such
Crossed Mortgage Loan in accordance with the provisions above, unless, in the
case of such breach or document defect, both of the following conditions would
be satisfied if the Seller were to repurchase or replace only those Mortgage
Loans as to which a Material Breach or Material Document Defect had occurred
without regard to this paragraph (the "Affected Loan(s)"): (1) the debt service
coverage ratio for all such other Mortgage Loans (excluding the Affected
Loan(s)) for the four calendar quarters immediately preceding the repurchase or
replacement is not less than 0.10x below the lesser of (x) the debt service
coverage ratio for all such Mortgage Loans (including the Affected Loans(s)) set
forth in Appendix II to the Final Prospectus Supplement and (y) the debt service
coverage ratio for all such Crossed Mortgage Loans (including the Affected
Loan(s)) for the four preceding calendar quarters preceding the repurchase or
replacement, and (2) the loan-to-value ratio for all such Crossed Mortgage Loans
(excluding the Affected Loan(s)) is not greater than 10% more than the greater
of (x) the loan-to-value ratio, expressed as a whole number (taken to one
decimal place), for all such Crossed Mortgage Loans (including the Affected
Loan(s)) set forth in Appendix II to the Final Prospectus Supplement and (y) the
loan-to-value ratio for all such Crossed Mortgage Loans (including the Affected
Loans(s)), at the time of repurchase or replacement. The determination of the
Master Servicer as to whether the conditions set forth above have been satisfied
shall be conclusive and binding in the absence of manifest error. The Master
Servicer will be entitled to cause to be delivered, or direct the Seller to (in
which case the Seller shall) cause to be delivered to the Master Servicer, an
Appraisal of any or all of the related Mortgaged Properties for purposes of
determining whether the condition set forth in clause (2) above has been
satisfied, in each case at the expense of the Seller if the scope and cost of
the Appraisal is approved by the Seller (such approval not to be unreasonably
withheld).

            With respect to any Defective Mortgage Loan, to the extent that the
Seller is required to repurchase or substitute for such Defective Mortgage Loan
(each, a "Repurchased Loan") in the manner prescribed above while the Trustee
(as assignee of the Purchaser) continues to hold any Crossed Mortgage Loan, the
Seller and the Purchaser hereby agree to forebear from enforcing any remedies
against the other's Primary Collateral but may exercise remedies against the
Primary Collateral securing their respective Mortgage Loans, including with
respect to the Trustee, the Primary Collateral securing the Mortgage Loans still
held by the Trustee, so long as such exercise does not impair the ability of the
other party to exercise its remedies against its Primary Collateral. If the
exercise of remedies by one party would impair the ability of the other party to
exercise its remedies with respect to the Primary Collateral securing the
Mortgage Loan or Mortgage Loans held by such party, then both parties shall
forbear from exercising such remedies until the loan documents evidencing and
securing the relevant Mortgage Loans can be modified in a manner that complies
with the Pooling and Servicing Agreement to remove the threat of impairment as a
result of the exercise of remedies. Any reserve or other cash collateral or
letters of credit securing the Crossed Mortgage Loans shall be allocated between
such Mortgage Loans in accordance with the Mortgage Loan documents, or otherwise
on a pro rata basis based upon their outstanding Principal Balances. All other
terms of the Mortgage Loans shall remain in full force and effect, without any
modification thereof. The Mortgagors set forth on Schedule B hereto are intended
third-party beneficiaries of the provisions set forth in this paragraph and the
preceding paragraph. The provisions of this paragraph and the preceding
paragraph may not be modified with respect to any Mortgage Loan without the
related Mortgagor's consent.

            Any of the following document defects shall be conclusively presumed
materially and adversely to affect the interests of Certificateholders in a
Mortgage Loan and be a Material Document Defect: (a) the absence from the
Mortgage File of the original signed Mortgage Note, unless the Mortgage File
contains a signed lost note affidavit and indemnity that appears to be regular
on its face; (b) the absence from the Mortgage File of the original signed
Mortgage that appears to be regular on its face, unless there is included in the
Mortgage File a certified copy of the Mortgage by the local authority with which
the Mortgage was recorded; or (c) the absence from the Mortgage File of the item
called for by paragraph (h) of the definition of Mortgage File. If any of the
foregoing Material Document Defects is discovered by the Custodian (or the
Trustee if there is no Custodian), the Trustee (or as set forth in Section
2.3(a) of the Pooling and Servicing Agreement, the Master Servicer) will take
the steps described elsewhere in this Section, including the giving of notices
to the Rating Agencies and the parties hereto and making demand upon the Seller
for the cure of the Material Document Defect or repurchase or replacement of the
related Mortgage Loan.

            The Seller shall be notified promptly and in writing by (i) the
Trustee of any notice that it receives that an Option Holder intends to exercise
its Option to purchase the Mortgage Loan in accordance with and as described in
Section 9.36 of the Pooling and Servicing Agreement and (ii) the Special
Servicer of any offer that it receives to purchase the applicable REO Property,
each in connection with such liquidation. Upon the receipt of such notice by the
Seller, the Seller shall then have the right to purchase the related Mortgage
Loan or REO Property, as applicable, from the Trust at a purchase price equal
to, in the case of clause (i) of the immediately preceding sentence, the Option
Purchase Price or, in the case of clause (ii) of the immediately preceding
sentence, the amount of such offer. Notwithstanding anything to the contrary
contained in this Agreement or in the Pooling and Servicing Agreement, the right
of any Option Holder to purchase such Mortgage Loan shall be subject and
subordinate to the Seller's right to purchase such Mortgage Loan as described in
the immediately preceding sentence. The Seller shall have five (5) Business Days
to notify the Trustee or Special Servicer, as applicable, of its intent to so
purchase the Mortgage Loan or related REO Property from the date that it was
notified of such intention to exercise such Option or of such offer. The Special
Servicer shall be obligated to provide the Seller with any appraisal or other
third party reports relating to the Mortgaged Property within its possession to
enable the Seller to evaluate the Mortgage Loan or REO Property. Any sale of the
Mortgage Loan, or foreclosure upon such Mortgage Loan and sale of the REO
Property, to a Person other than the Seller shall be without (i) recourse of any
kind (either express or implied) by such Person against the Seller and (ii)
representation or warranty of any kind (either express or implied) by the Seller
to or for the benefit of such Person.

            The obligations of the Seller set forth in this Section 5(b) to cure
a Material Document Defect or a Material Breach or repurchase or replace a
defective Mortgage Loan constitute the sole remedies of the Purchaser or its
assignees with respect to a Material Document Defect or Material Breach in
respect of an outstanding Mortgage Loan; provided, that this limitation shall
not in any way limit the Purchaser's rights or remedies upon breach of any other
representation or warranty or covenant by the Seller set forth in this Agreement
(other than those set forth in Exhibit 2).

            Notwithstanding the foregoing, in the event that there is a breach
of the representation and warranty set forth in paragraph 43 of Exhibit 2
attached hereto, and as a result the payments, by a Mortgagor, of reasonable
costs and expenses associated with the defeasance or assumption of a Mortgage
Loan are insufficient causing the Trust to incur any Additional Trust Expense,
the Seller hereby covenants and agrees to reimburse the Trust in an amount
sufficient to avoid such Additional Trust Expense. The parties hereto
acknowledge that such reimbursement shall be the Seller's sole obligation with
respect to the breach discussed in the previous sentence.

            (c) The Pooling and Servicing Agreement shall provide that the
Trustee (or the Master Servicer or the Special Servicer on its behalf) shall
give written notice within three Business Days to the Seller of its discovery of
any Material Document Defect or Material Breach and prompt written notice to the
Seller in the event that any Mortgage Loan becomes a Specially Serviced Mortgage
Loan (as defined in the Pooling and Servicing Agreement).

            (d) If the Seller repurchases any Mortgage Loan pursuant to this
Section 5, the Purchaser or its assignee, following receipt by the Trustee of
the Purchase Price therefor, promptly shall deliver or cause to be delivered to
the Seller all Mortgage Loan documents with respect to such Mortgage Loan, and
each document that constitutes a part of the Mortgage File that was endorsed or
assigned to the Trustee shall be endorsed and assigned to the Seller in the same
manner such that the Seller shall be vested with legal and beneficial title to
such Mortgage Loan, in each case without recourse, including any property
acquired in respect of such Mortgage Loan or proceeds of any insurance policies
with respect thereto.

            Section 6. Closing. The closing of the sale of the Mortgage Loans
shall be held at the offices of Cadwalader, Wickersham & Taft, 100 Maiden Lane,
New York, NY 10038 at 9:00 a.m., New York time, on the Closing Date.

            The closing shall be subject to each of the following conditions:

            (a) All of the representations and warranties of the Seller and the
Purchaser specified in Section 4 of this Agreement (including, without
limitation, the representations and warranties set forth on Exhibit 2 to this
Agreement) shall be true and correct as of the Closing Date (to the extent of
the standard, if any, set forth in each representation and warranty).

            (b) All Closing Documents specified in Section 7 of this Agreement,
in such forms as are agreed upon and reasonably acceptable to the Seller or the
Purchaser, as applicable, shall be duly executed and delivered by all
signatories as required pursuant to the respective terms thereof.

            (c) The Seller shall have delivered and released to the Purchaser or
its designee all documents required to be delivered to the Purchaser as of the
Closing Date pursuant to Section 2 of this Agreement.

            (d) The result of the examination and audit performed by the
Purchaser and its affiliates pursuant to Section 3 hereof shall be satisfactory
to the Purchaser and its affiliates in their sole determination and the parties
shall have agreed to the form and contents of the Seller's Information to be
disclosed in the Memorandum and the Prospectus Supplement.

            (e) All other terms and conditions of this Agreement required to be
complied with on or before the Closing Date shall have been complied with, and
the Seller and the Purchaser shall have the ability to comply with all terms and
conditions and perform all duties and obligations required to be complied with
or performed after the Closing Date.

            (f) The Seller shall have paid all fees and expenses payable by it
to the Purchaser pursuant to Section 8 hereof.

            (g) The Certificates to be so rated shall have been assigned ratings
by each Rating Agency no lower than the ratings specified for each such Class in
the Memorandum and the Prospectus Supplement.

            (h) No Underwriter shall have terminated the Underwriting Agreement
and the Initial Purchaser shall not have terminated the Certificate Purchase
Agreement, and neither the Underwriters nor the Initial Purchaser shall have
suspended, delayed or otherwise cancelled the Closing Date.

            (i) The Seller shall have received the purchase price for the
Mortgage Loans pursuant to Section 1 hereof.

            Each party agrees to use its best efforts to perform its respective
obligations hereunder in a manner that will enable the Purchaser to purchase the
Mortgage Loans on the Closing Date.

            Section 7. Closing Documents. The Closing Documents shall consist of
the following:

            (a) This Agreement duly executed by the Purchaser and the Seller.

            (b) A certificate of the Seller, executed by a duly authorized
officer of the Seller and dated the Closing Date, and upon which the Purchaser
and its successors and assigns may rely, to the effect that: (i) the
representations and warranties of the Seller in this Agreement are true and
correct in all material respects on and as of the Closing Date with the same
force and effect as if made on the Closing Date, provided that any
representations and warranties made as of a specified date shall be true and
correct as of such specified date; and (ii) the Seller has complied with all
agreements and satisfied all conditions on its part to be performed or satisfied
on or prior to the Closing Date.

            (c) True, complete and correct copies of the Seller's articles of
organization and by-laws.

            (d) A certificate of existence for the Seller from the Secretary of
State of New York dated not earlier than 30 days prior to the Closing Date.

            (e) A certificate of the Secretary or Assistant Secretary of the
Seller, dated the Closing Date, and upon which the Purchaser may rely, to the
effect that each individual who, as an officer or representative of the Seller,
signed this Agreement or any other document or certificate delivered on or
before the Closing Date in connection with the transactions contemplated herein,
was at the respective times of such signing and delivery, and is as of the
Closing Date, duly elected or appointed, qualified and acting as such officer or
representative, and the signatures of such persons appearing on such documents
and certificates are their genuine signatures.

            (f) An opinion of counsel (which, other than as to the opinion
described in paragraph (vi) below, may be in-house counsel) to the Seller, dated
the Closing Date, substantially to the effect of the following (with such
changes and modifications as the Purchaser may approve and subject to such
counsel's reasonable qualifications):

            (i) The Seller is validly existing under New York law and has full
      corporate power and authority to enter into and perform its obligations
      under this Agreement.

            (ii) This Agreement has been duly authorized, executed and delivered
      by the Seller.

            (iii) No consent, approval, authorization or order of any federal
      court or governmental agency or body is required for the consummation by
      the Seller of the transactions contemplated by the terms of this Agreement
      except any approvals as have been obtained.

            (iv) Neither the execution, delivery or performance of this
      Agreement by the Seller, nor the consummation by the Seller of any of the
      transactions contemplated by the terms of this Agreement (A) conflicts
      with or results in a breach or violation of, or constitutes a default
      under, the organizational documents of the Seller, (B) to the knowledge of
      such counsel, constitutes a default under any term or provision of any
      material agreement, contract, instrument or indenture, to which the Seller
      is a party or by which it or any of its assets is bound or results in the
      creation or imposition of any lien, charge or encumbrance upon any of its
      property pursuant to the terms of any such indenture, mortgage, contract
      or other instrument, other than pursuant to this Agreement, or (C)
      conflicts with or results in a breach or violation of any law, rule,
      regulation, order, judgment, writ, injunction or decree of any court or
      governmental authority having jurisdiction over the Seller or its assets,
      except where in any of the instances contemplated by clauses (B) or (C)
      above, any conflict, breach or default, or creation or imposition of any
      lien, charge or encumbrance, will not have a material adverse effect on
      the consummation of the transactions contemplated hereby by the Seller or
      materially and adversely affect its ability to perform its obligations and
      duties hereunder or result in any material adverse change in the business,
      operations, financial condition, properties or assets of the Seller, or in
      any material impairment of the right or ability of the Seller to carry on
      its business substantially as now conducted.

            (v) To his or her knowledge, there are no legal or governmental
      actions, investigations or proceedings pending to which the Seller is a
      party, or threatened against the Seller, (a) asserting the invalidity of
      this Agreement or (b) which materially and adversely affect the
      performance by the Seller of its obligations under, or the validity or
      enforceability of, this Agreement.

            (vi) This Agreement is a valid, legal and binding agreement of the
      Seller, enforceable against the Seller in accordance with its terms,
      except as such enforcement may be limited by (1) laws relating to
      bankruptcy, insolvency, reorganization, receivership or moratorium, (2)
      other laws relating to or affecting the rights of creditors generally, (3)
      general equity principles (regardless of whether such enforcement is
      considered in a proceeding in equity or at law) or (4) public policy
      considerations underlying the securities laws, to the extent that such
      public policy considerations limit the enforceability of the provisions of
      this Agreement that purport to provide indemnification from liabilities
      under applicable securities laws.

            Such opinion may express its reliance as to factual matters on,
among other things specified in such opinion, the representations and warranties
made by, and on certificates or other documents furnished by officers of, the
parties to this Agreement.

            In rendering the opinions expressed above, such counsel may limit
such opinions to matters governed by the federal laws of the United States and
the corporate laws of the State of Delaware and the State of New York, as
applicable.

            (g) Such other opinions of counsel as any Rating Agency may request
in connection with the sale of the Mortgage Loans by the Seller to the Purchaser
or the Seller's execution and delivery of, or performance under, this Agreement.

            (h) A letter from Deloitte & Touche, certified public accountants,
dated the date hereof, to the effect that they have performed certain specified
procedures as a result of which they determined that certain information of an
accounting, financial or statistical nature set forth in the Memorandum and the
Prospectus Supplement agrees with the records of the Seller.

            (i) Such further certificates, opinions and documents as the
Purchaser may reasonably request.

            (j) An officer's certificate of the Purchaser, dated as of the
Closing Date, with the resolutions of the Purchaser authorizing the transactions
described herein attached thereto, together with certified copies of the
charter, by-laws and certificate of good standing of the Purchaser dated not
earlier than 30 days prior to the Closing Date.

            (k) Such other certificates of the Purchaser's officers or others
and such other documents to evidence fulfillment of the conditions set forth in
this Agreement as the Seller or its counsel may reasonably request.

            (l) An executed Bill of Sale in the form attached hereto as Exhibit
4.

            Section 8. Costs. The Seller shall pay the Purchaser the costs and
expenses as agreed upon by the Seller and the Purchaser in a separate Letter of
Understanding dated June 1, 2002.

            Section 9. Notices. All communications provided for or permitted
hereunder shall be in writing and shall be deemed to have been duly given if (a)
personally delivered, (b) mailed by registered or certified mail, postage
prepaid and received by the addressee, (c) sent by express courier delivery
service and received by the addressee, or (d) transmitted by telex or facsimile
transmission (or any other type of electronic transmission agreed upon by the
parties) and confirmed by a writing delivered by any of the means described in
(a), (b) or (c), if (i) to the Purchaser, addressed to Morgan Stanley Dean
Witter Capital I Inc., 1585 Broadway, New York, New York 10036, Attention:
Cecilia Tarrant, with a copy to Michelle Wilke (or such other address as may
hereafter be furnished in writing by the Purchaser), or (ii) if to the Seller,
addressed to the Seller at Morgan Stanley Dean Witter Mortgage Capital Inc.,
1585 Broadway, New York, New York 10036, Attention: Cecilia Tarrant, with a copy
to Michelle Wilke. Section 10. Severability of Provisions. Any part, provision,
representation, warranty or covenant of this Agreement that is prohibited or
that is held to be void or unenforceable shall be ineffective to the extent of
such prohibition or unenforceability without invalidating the remaining
provisions hereof. Any part, provision, representation, warranty or covenant of
this Agreement that is prohibited or unenforceable or is held to be void or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective
to the extent of such prohibition or unenforceability without invalidating the
remaining provisions hereof, and any such prohibition or unenforceability in any
jurisdiction shall not invalidate or render unenforceable such provision in any
other jurisdiction. To the extent permitted by applicable law, the parties
hereto waive any provision of law which prohibits or renders void or
unenforceable any provision hereof.

            Section 11. Further Assurances. The Seller and the Purchaser each
agree to execute and deliver such instruments and take such actions as the other
may, from time to time, reasonably request in order to effectuate the purpose
and to carry out the terms of this Agreement and the Pooling and Servicing
Agreement.

            Section 12. Survival. Each party hereto agrees that the
representations, warranties and agreements made by it herein and in any
certificate or other instrument delivered pursuant hereto shall be deemed to be
relied upon by the other party, notwithstanding any investigation heretofore or
hereafter made by the other party or on its behalf, and that the
representations, warranties and agreements made by such other party herein or in
any such certificate or other instrument shall survive the delivery of and
payment for the Mortgage Loans and shall continue in full force and effect,
notwithstanding any restrictive or qualified endorsement on the Mortgage Notes
and notwithstanding subsequent termination of this Agreement.

            SECTION 13. GOVERNING LAW. THIS AGREEMENT AND THE RIGHTS, DUTIES,
OBLIGATIONS AND RESPONSIBILITIES OF THE PARTIES HERETO SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS AND DECISIONS OF THE STATE OF NEW
YORK. THE PARTIES HERETO INTEND THAT THE PROVISIONS OF SECTION 5-1401 OF THE NEW
YORK GENERAL OBLIGATIONS LAW SHALL APPLY TO THIS AGREEMENT.

            Section 14. Benefits of Mortgage Loan Purchase Agreement. This
Agreement shall inure to the benefit of and shall be binding upon the Seller,
the Purchaser and their respective successors, legal representatives, and
permitted assigns, and nothing expressed or mentioned in this Agreement is
intended or shall be construed to give any other person any legal or equitable
right, remedy or claim under or in respect of this Agreement, or any provisions
herein contained, this Agreement and all conditions and provisions hereof being
intended to be and being for the sole and exclusive benefit of such persons and
for the benefit of no other person except that the rights and obligations of the
Purchaser pursuant to Sections 2, 4(a) (other than clause (vii)), 5, 11 and 12
hereof may be assigned to the Trustee as may be required to effect the purposes
of the Pooling and Servicing Agreement and, upon such assignment, the Trustee
shall succeed to the rights and obligations hereunder of the Purchaser. No owner
of a Certificate issued pursuant to the Pooling and Servicing Agreement shall be
deemed a successor or permitted assigns because of such ownership.

            Section 15. Miscellaneous. This Agreement may be executed in two or
more counterparts, each of which when so executed and delivered shall be an
original, but all of which together shall constitute one and the same
instrument. Neither this Agreement nor any term hereof may be changed, waived,
discharged or terminated orally, but only by an instrument in writing signed by
the party against whom enforcement of the change, waiver, discharge or
termination is sought. The headings in this Agreement are for purposes of
reference only and shall not limit or otherwise affect the meaning hereof. The
rights and obligations of the Seller under this Agreement shall not be assigned
by the Seller without the prior written consent of the Purchaser, except that
any person into which the Seller may be merged or consolidated, or any
corporation resulting from any merger, conversion or consolidation to which the
Seller is a party, or any person succeeding to the entire business of the Seller
shall be the successor to the Seller hereunder.

            Section 16. Entire Agreement. This Agreement contains the entire
agreement and understanding between the parties hereto with respect to the
subject matter hereof (other than the Letter of Understanding, the
Indemnification Agreement and the Pooling and Servicing Agreement), and
supersedes all prior and contemporaneous agreements, understandings, inducements
and conditions, express or implied, oral or written, of any nature whatsoever
with respect to the subject matter hereof. The express terms hereof control and
supersede any course of performance or usage of the trade inconsistent with any
of the terms hereof.

<PAGE>

            IN WITNESS WHEREOF, the Purchaser and the Seller have caused this
Agreement to be executed by their respective duly authorized officers as of the
date first above written.

                                        MORGAN STANLEY DEAN WITTER MORTGAGE
                                           CAPITAL INC.

                                        By:_____________________________________
                                           Name:
                                           Title:

                                        MORGAN STANLEY DEAN WITTER
                                           CAPITAL I INC.

                                        By:_____________________________________
                                           Name:
                                           Title:

<PAGE>

                                    EXHIBIT 1

                             MORTGAGE LOAN SCHEDULE

MSDWCI 2002-IQ2
MS

<TABLE>
<CAPTION>
LOAN POOL        MORTGAGE LOAN
NO               SELLER            PROPERTY NAME                                  CITY                   STATE    ZIP CODE
---------        -------------     -------------                                  ----                   -----    --------
<C>              <C>               <C>                                            <C>                    <C>       <C>
1                MSDWMC            Woodfield Mall                                 Schaumburg             IL        60173
2                MSDWMC            One Seaport Plaza                              New York City          NY        10038
4                MSDWMC            ARC Portfolio 4 - Harmony Road                 Fort Collins           CO        80525
5                MSDWMC            ARC Portfolio 4 - Stoneybrook                  Greeley                CO        80631
6                MSDWMC            ARC Portfolio 4 - Siouxland Estates            South Sioux City       NE        68776
7                MSDWMC            ARC Portfolio 4 - Chalet City                  Crowley                TX        76036
8                MSDWMC            ARC Portfolio 4 - Denton Falls                 Denton                 TX        76201
9                MSDWMC            ARC Portfolio 4 - The Woodlands                Wichita                KS        67217
10               MSDWMC            ARC Portfolio 4 - Northern Hills               Springdale             AR        72764
11               MSDWMC            ARC Portfolio 4 - Western Park                 Fayetteville           AR        72704
12               MSDWMC            ARC Portfolio 4 - Oak Glen                     Fayetteville           AR        72704
13               MSDWMC            ARC Portfolio 4 - Vogel Manor                  Arnold                 MO        63010
14               MSDWMC            ARC Portfolio 4 - Bush Ranch                   House Springs          MO        63049
15               MSDWMC            ARC Portfolio 4 - Hidden Acres                 Arnold                 MO        63010
45               MSDWMC            PW Pipe-Tacoma, WA                             Tacoma                 WA        98421
46               MSDWMC            PW Pipe-West Jordan, UT                        West Jordan            UT        84088
47               MSDWMC            PW Pipe-Perris, CA                             Perris                 CA        92570
48               MSDWMC            PW Pipe-Eugene, OR                             Eugene                 OR        97401
64               MSDWMC            Meadowbrook Village                            York                   PA        17402

<CAPTION>
LOAN POOL                                                                                        SUB-SERVICING
NO               ORIGINAL BALANCE        CURRENT BALANCE      MASTER FEE        PRIMARY FEE                FEE
---------        ----------------        ---------------      ----------        -----------      -------------
<C>                   <C>                    <C>                    <C>                <C>                <C>
1                     $62,000,000            $61,909,944            2.00               0.00               0.00
2                     $61,000,000            $61,000,000            5.00               0.00               0.00
4                     $13,951,677            $13,951,677            5.00               0.00               0.00
5                      $9,986,222             $9,986,222            5.00               0.00               0.00
6                      $4,041,130             $4,041,130            5.00               0.00               0.00
7                      $3,841,292             $3,841,292            5.00               0.00               0.00
8                      $3,714,512             $3,714,512            5.00               0.00               0.00
9                      $2,927,648             $2,927,648            5.00               0.00               0.00
10                     $2,345,619             $2,345,619            5.00               0.00               0.00
11                     $1,642,068             $1,642,068            5.00               0.00               0.00
12                     $1,147,093             $1,147,093            5.00               0.00               0.00
13                     $1,056,092             $1,056,092            5.00               0.00               0.00
14                       $767,689               $767,689            5.00               0.00               0.00
15                       $447,174               $447,174            5.00               0.00               0.00
45                     $2,730,000             $2,725,164            5.00               0.00               0.00
46                     $2,130,000             $2,126,227            5.00               0.00               0.00
47                     $1,690,000             $1,687,006            5.00               0.00               0.00
48                     $1,650,000             $1,647,077            5.00               0.00               0.00
64                     $6,400,000             $6,377,331            5.00               0.00               0.00
</TABLE>

<PAGE>

                                    EXHIBIT 2

                    REPRESENTATIONS AND WARRANTIES REGARDING
                            INDIVIDUAL MORTGAGE LOANS

            1. Mortgage Loan Schedule. The information set forth in the Mortgage
Loan Schedule is complete, true and correct in all material respects as of the
date of this Agreement and as of the Cut-Off Date.

            2. Whole Loan; Ownership of Mortgage Loans. Each Mortgage Loan is a
whole loan and not a participation interest in a mortgage loan. Immediately
prior to the transfer to the Purchaser of the Mortgage Loans, the Seller had
good title to, and was the sole owner of, each Mortgage Loan. The Seller has
full right, power and authority to transfer and assign each of the Mortgage
Loans to or at the direction of the Purchaser and has validly and effectively
conveyed (or caused to be conveyed) to the Purchaser or its designee all of the
Seller's legal and beneficial interest in and to the Mortgage Loans free and
clear of any and all pledges, liens, charges, security interests and/or other
encumbrances. The sale of the Mortgage Loans to the Purchaser or its designee
does not require the Seller to obtain any governmental or regulatory approval or
consent that has not been obtained.

            3. Payment Record. No scheduled payment of principal and interest
under any Mortgage Loan was 30 days or more past due as of the Cut-Off Date, and
no Mortgage Loan was 30 days or more delinquent in the twelve-month period
immediately preceding the Cut-Off Date.

            4. Lien; Valid Assignment. The Mortgage related to and delivered in
connection with each Mortgage Loan constitutes a valid and, subject to the
exceptions set forth in paragraph 13 below, enforceable first priority lien upon
the related Mortgaged Property, prior to all other liens and encumbrances,
except for (a) the lien for current real estate taxes and assessments not yet
due and payable, (b) covenants, conditions and restrictions, rights of way,
easements and other matters that are of public record and/or are referred to in
the related lender's title insurance policy, (c) exceptions and exclusions
specifically referred to in such lender's title insurance policy, (d) other
matters to which like properties are commonly subject, none of which matters
referred to in clauses (b), (c) or (d), individually or in the aggregate,
materially interferes with the security intended to be provided by such
Mortgage, the marketability or current use of the Mortgaged Property or the
current ability of the Mortgaged Property to generate operating income
sufficient to service the Mortgage Loan debt and (e) if such Mortgage Loan is
cross-collateralized with any other Mortgage Loan, the lien of the Mortgage for
such other Mortgage Loan (the foregoing items (a) through (e) being herein
referred to as the "Permitted Encumbrances"). The related assignment of such
Mortgage executed and delivered in favor of the Trustee is in recordable form
and constitutes a legal, valid and binding assignment, sufficient to convey to
the assignee named therein all of the assignor's right, title and interest in,
to and under such Mortgage. Such Mortgage, together with any separate security
agreements, chattel mortgages or equivalent instruments, establishes and creates
a valid and, subject to the exceptions set forth in paragraph 13 below,
enforceable security interest in favor of the holder thereof in all of the
related Mortgagor's personal property used in, and reasonably necessary to
operate, the related Mortgaged Property. In the case of a Mortgaged Property
operated as a hotel or an assisted living facility, the Mortgagor's personal
property includes all personal property that a prudent mortgage lender making a
similar Mortgage Loan would deem reasonably necessary to operate the related
Mortgaged Property as it is currently being operated. A Uniform Commercial Code
financing statement has been filed and/or recorded in all places necessary to
perfect a valid security interest in such personal property, to the extent a
security interest may be so created therein, and such security interest is a
first priority security interest, subject to any prior purchase money security
interest in such personal property and any personal property leases applicable
to such personal property. Notwithstanding the foregoing, no representation is
made as to the perfection of any security interest in rents or other personal
property to the extent that possession or control of such items or actions other
than the filing of Uniform Commercial Code financing statements are required in
order to effect such perfection.

            5. Assignment of Leases and Rents. The Assignment of Leases related
to and delivered in connection with each Mortgage Loan establishes and creates a
valid, subsisting and, subject to the exceptions set forth in paragraph 13
below, enforceable first priority lien and first priority security interest in
the related Mortgagor's interest in all leases, sub-leases, licenses or other
agreements pursuant to which any person is entitled to occupy, use or possess
all or any portion of the real property subject to the related Mortgage, and
each assignor thereunder has the full right to assign the same. The related
assignment of any Assignment of Leases not included in a Mortgage has been
executed and delivered in favor of the Trustee and is in recordable form and
constitutes a legal, valid and binding assignment, sufficient to convey to the
assignee named therein all of the assignor's right, title and interest in, to
and under such Assignment of Leases.

            6. Mortgage Status; Waivers and Modifications. No Mortgage has been
satisfied, cancelled, rescinded or subordinated in whole or in part, and the
related Mortgaged Property has not been released from the lien of such Mortgage,
in whole or in part (except for partial reconveyances of real property that are
set forth on Schedule A to Exhibit 2), nor has any instrument been executed that
would effect any such satisfaction, cancellation, subordination, rescission or
release, in any manner that, in each case, materially adversely affects the
value of the related Mortgaged Property. None of the terms of any Mortgage Note,
Mortgage or Assignment of Leases has been impaired, waived, altered or modified
in any respect, except by written instruments, all of which are included in the
related Mortgage File.

            7. Condition of Property; Condemnation. (i) With respect to the
Mortgaged Properties securing the Mortgage Loans that were the subject of an
engineering report within 18 months prior to the Cut-Off Date as set forth on
Schedule A to this Exhibit 2, each Mortgaged Property is, to the Seller's
knowledge, free and clear of any damage (or adequate reserves therefor have been
established) that would materially and adversely affect its value as security
for the related Mortgage Loan, and (ii) with respect to the Mortgaged Properties
securing the Mortgage Loans that were not the subject of an engineering report
within 18 months prior to the Cut-Off Date as set forth on Schedule A to this
Exhibit 2, each Mortgaged Property is in good repair and condition and all
building systems contained therein are in good working order (or adequate
reserves therefor have been established) and each Mortgaged Property is free of
structural defects, in each case, that would materially and adversely affect its
value as security for the related Mortgage Loan as of the date hereof. The
Seller has received no notice of the commencement of any proceeding for the
condemnation of all or any material portion of any Mortgaged Property. To the
Seller's knowledge (based on surveys and/or title insurance obtained in
connection with the origination of the Mortgage Loans), as of the date of the
origination of each Mortgage Loan, all of the material improvements on the
related Mortgaged Property that were considered in determining the appraised
value of the Mortgaged Property lay wholly within the boundaries and building
restriction lines of such property, except for encroachments that are insured
against by the lender's title insurance policy referred to herein or that do not
materially and adversely affect the value or marketability of such Mortgaged
Property, and no improvements on adjoining properties materially encroached upon
such Mortgaged Property so as to materially and adversely affect the value or
marketability of such Mortgaged Property, except those encroachments that are
insured against by the Title Policy referred to herein.

            8. Title Insurance. Each Mortgaged Property is covered by an
American Land Title Association (or an equivalent form of) lender's title
insurance policy or a marked-up title insurance commitment (on which the
required premium has been paid) which evidences such title insurance policy (the
"Title Policy") in the original principal amount of the related Mortgage Loan
after all advances of principal. Each Title Policy insures that the related
Mortgage is a valid first priority lien on such Mortgaged Property, subject only
to Permitted Encumbrances. Each Title Policy (or, if it has yet to be issued,
the coverage to be provided thereby) is in full force and effect, all premiums
thereon have been paid and no material claims have been made thereunder and no
claims have been paid thereunder. No holder of the related Mortgage has done, by
act or omission, anything that would materially impair the coverage under such
Title Policy. Immediately following the transfer and assignment of the related
Mortgage Loan to the Trustee, such Title Policy (or, if it has yet to be issued,
the coverage to be provided thereby) will inure to the benefit of the Trustee
without the consent of or notice to the insurer. To the Seller's knowledge, the
insurer issuing such Title Policy is qualified to do business in the
jurisdiction in which the related Mortgaged Property is located.

            9. No Holdbacks. The proceeds of each Mortgage Loan have been fully
disbursed and there is no obligation for future advances with respect thereto.
With respect to each Mortgage Loan, any and all requirements as to completion of
any on-site or off-site improvement and as to disbursements of any funds
escrowed for such purpose that were to have been complied with on or before the
Closing Date have been complied with, or any such funds so escrowed have not
been released.

            10. Mortgage Provisions. The Mortgage Note or Mortgage for each
Mortgage Loan, together with applicable state law, contains customary and
enforceable provisions (subject to the exceptions set forth in paragraph 13)
such as to render the rights and remedies of the holder thereof adequate for the
practical realization against the related Mortgaged Property of the principal
benefits of the security intended to be provided thereby.

            11. Trustee under Deed of Trust. If any Mortgage is a deed of trust,
(1) a trustee, duly qualified under applicable law to serve as such, is properly
designated and serving under such Mortgage, and (2) no fees or expenses are
payable to such trustee by the Seller, the Purchaser or any transferee thereof
except in connection with a trustee's sale after default by the related
Mortgagor or in connection with any full or partial release of the related
Mortgaged Property or related security for the related Mortgage Loan.

            12. Environmental Conditions.

            (i) With respect to the Mortgaged Properties securing the Mortgage
      Loans that were the subject of an environmental site assessment within 18
      months prior to the Cut-Off Date as set forth on Schedule A to this
      Exhibit 2, an environmental site assessment, or an update of a previous
      such report, was performed with respect to each Mortgaged Property in
      connection with the origination or the sale of the related Mortgage Loan,
      a report of each such assessment (or the most recent assessment with
      respect to each Mortgaged Property) (an "Environmental Report") has been
      delivered to the Purchaser, and the Seller has no knowledge of any
      material and adverse environmental condition or circumstance affecting any
      Mortgaged Property that was not disclosed in such report. Each Mortgage
      requires the related Mortgagor to comply with all applicable federal,
      state and local environmental laws and regulations. Where such assessment
      disclosed the existence of a material and adverse environmental condition
      or circumstance affecting any Mortgaged Property, (i) a party not related
      to the Mortgagor was identified as the responsible party for such
      condition or circumstance or (ii) environmental insurance covering such
      condition was obtained or must be maintained until the condition is
      remediated or (iii) the related Mortgagor was required either to provide
      additional security that was deemed to be sufficient by the originator in
      light of the circumstances and/or to establish an operations and
      maintenance plan. In the case of each Mortgage Loan set forth on Schedule
      A to this Exhibit 2, (i) such Mortgage Loan is the subject of a Secured
      Creditor Impaired Property Policy, issued by the issuer set forth on
      Schedule A (the "Policy Issuer") and effective as of the date thereof (the
      "Environmental Insurance Policy"), (ii) the Environmental Insurance Policy
      is in full force and effect, (iii)(a) a property condition or engineering
      report was prepared with respect to lead based paint ("LBP"), asbestos
      containing materials ("ACM") and radon gas ("RG") at each related
      Mortgaged Property and (b) if such report disclosed the existence of a
      material and adverse LBP, ACM or RG environmental condition or
      circumstance affecting the related Mortgaged Property, the related
      Mortgagor (A) was required to remediate the identified condition prior to
      closing the Mortgage Loan or provide additional security, or establish
      with the lender a reserve from loan proceeds, in an amount deemed to be
      sufficient by the Seller for the remediation of the problem and/or (B)
      agreed in the Mortgage Loan documents to establish an operations and
      maintenance plan after the closing of the Mortgage Loan, (iv) on the
      effective date of the Environmental Insurance Policy, Seller as originator
      had no knowledge of any material and adverse environmental condition or
      circumstance affecting the Mortgaged Property (other than the existence of
      LBP, ACM or RG) that was not disclosed to the Policy Issuer in one or more
      of the following: (a) the application for insurance, (b) a borrower
      questionnaire that was provided to the Policy Issuer or (c) an engineering
      or other report provided to the Policy Issuer and (v) the premium of any
      Environmental Insurance Policy has been paid through the maturity of the
      policy's term and the term of such policy extends at least five years
      beyond the maturity of the Mortgage Loan.

            (ii) With respect to the Mortgaged Properties securing the Mortgage
      Loans that were not the subject of an environmental site assessment within
      18 months prior to the Cut-Off Date as set forth on Schedule A to this
      Exhibit 2, (i) no Hazardous Material is present on such Mortgaged Property
      such that (1) the value of such Mortgaged Property is materially and
      adversely affected or (2) under applicable federal, state or local law,
      (a) such Hazardous Material could be required to be eliminated at a cost
      materially and adversely affecting the value of the Mortgaged Property
      before such Mortgaged Property could be altered, renovated, demolished or
      transferred or (b) the presence of such Hazardous Material could (upon
      action by the appropriate governmental authorities) subject the owner of
      such Mortgaged Property, or the holders of a security interest therein, to
      liability for the cost of eliminating such Hazardous Material or the
      hazard created thereby at a cost materially and adversely affecting the
      value of the Mortgaged Property, and (ii) such Mortgaged Property is in
      material compliance with all applicable federal, state and local laws
      pertaining to Hazardous Materials or environmental hazards, any
      noncompliance with such laws does not have a material adverse effect on
      the value of such Mortgaged Property and neither Seller nor, to Seller's
      knowledge, the related Mortgagor or any current tenant thereon, has
      received any notice of violation or potential violation of any such law.

      "Hazardous Materials" means gasoline, petroleum products, explosives,
      radioactive materials, polychlorinated biphenyls or related or similar
      materials, and any other substance or material as may be defined as a
      hazardous or toxic substance by any federal, state or local environmental
      law, ordinance, rule, regulation or order, including without limitation,
      the Comprehensive Environmental Response, Compensation and Liability Act
      of 1980, as amended (42 U.S.C.ss.ss.9601 et seq.), the Hazardous Materials
      Transportation Act as amended (42 U.S.C.ss.ss.6901 et seq.), the Federal
      Water Pollution Control Act as amended (33 U.S.C.ss.ss.1251 et seq.), the
      Clean Air Act (42 U.S.C.ss.sS. 1251 et seq.) and any regulations
      promulgated pursuant thereto.

            13. Loan Document Status. Each Mortgage Note, Mortgage and other
agreement that evidences or secures such Mortgage Loan and was executed by or on
behalf of the related Mortgagor is the legal, valid and binding obligation of
the maker thereof (subject to any non-recourse provisions contained in any of
the foregoing agreements and any applicable state anti-deficiency or market
value limit deficiency legislation), enforceable in accordance with its terms,
except as such enforcement may be limited by bankruptcy, insolvency,
reorganization or other similar laws affecting the enforcement of creditors'
rights generally, and by general principles of equity (regardless of whether
such enforcement is considered in a proceeding in equity or at law) and there is
no valid defense, counterclaim or right of offset or rescission available to the
related Mortgagor with respect to such Mortgage Note, Mortgage or other
agreement.

            14. Insurance. Each Mortgaged Property is, and is required pursuant
to the related Mortgage to be, insured by (a) a fire and extended perils
insurance policy providing coverage against loss or damage sustained by reason
of fire, lightning, windstorm, hail, explosion, riot, riot attending a strike,
civil commotion, aircraft, vehicles and smoke, and, to the extent required as of
the date of origination by the originator of such Mortgage Loan consistent with
its normal commercial mortgage lending practices, against other risks insured
against by persons operating like properties in the locality of the Mortgaged
Property so-called "All Risk" coverage in an amount not less than the lesser of
the principal balance of the related Mortgage Loan and the replacement cost of
the Mortgaged Property, and contains no provisions for a deduction for
depreciation, and not less than the amount necessary to avoid the operation of
any co-insurance provisions with respect to the Mortgaged Property; (b) a
business interruption or rental loss insurance policy, in an amount at least
equal to six months of operations of the Mortgaged Property; (c) a flood
insurance policy (if any portion of buildings or other structures on the
Mortgaged Property are located in an area identified by the Federal Emergency
Management Agency as having special flood hazards and the Federal Emergency
Management Agency requires flood insurance to be maintained); and (d) a
comprehensive general liability insurance policy in amounts as are generally
required by commercial mortgage lenders, and in any event not less than $1
million per occurrence. Such insurance policy contains a standard mortgagee
clause that names the mortgagee as an additional insured in the case of
liability insurance policies and as a loss payee in the case of property
insurance policies and requires prior notice to the holder of the Mortgage of
termination or cancellation. No such notice has been received, including any
notice of nonpayment of premiums, that has not been cured. Each Mortgage
obligates the related Mortgagor to maintain all such insurance and, upon such
Mortgagor's failure to do so, authorizes the holder of the Mortgage to maintain
such insurance at the Mortgagor's cost and expense and to seek reimbursement
therefor from such Mortgagor. Each Mortgage provides that casualty insurance
proceeds will be applied (a) to the restoration or repair of the related
Mortgaged Property, (b) to the restoration or repair of the related Mortgaged
Property, with any excess insurance proceeds after restoration or repair being
paid to the Mortgagor, or (c) to the reduction of the principal amount of the
Mortgage Loan.

            15. Taxes and Assessments. As of the Closing Date, there are no
delinquent or unpaid taxes, assessments (including assessments payable in future
installments) or other outstanding charges affecting any Mortgaged Property that
are or may become a lien of priority equal to or higher than the lien of the
related Mortgage. For purposes of this representation and warranty, real
property taxes and assessments shall not be considered unpaid until the date on
which interest or penalties would be first payable thereon.

            16. Mortgagor Bankruptcy. No Mortgagor is, to the Seller's
knowledge, a debtor in any state or federal bankruptcy or insolvency proceeding.

            17. Leasehold Estate. Each Mortgaged Property consists of a fee
simple estate in real estate or, if the related Mortgage Loan is secured in
whole or in part by the interest of a Mortgagor as a lessee under a ground lease
of a Mortgaged Property (a "Ground Lease"), by the related Mortgagor's interest
in the Ground Lease but not by the related fee interest in such Mortgaged
Property (the "Fee Interest"), and as to such Ground Leases:

            (i) Such Ground Lease or a memorandum thereof has been or will be
      duly recorded; such Ground Lease (or the related estoppel letter or lender
      protection agreement between the Seller and related lessor) does not
      prohibit the current use of the Mortgaged Property and does not prohibit
      the interest of the lessee thereunder to be encumbered by the related
      Mortgage; and there has been no material change in the payment terms of
      such Ground Lease since the origination of the related Mortgage Loan, with
      the exception of material changes reflected in written instruments that
      are a part of the related Mortgage File;

            (ii) The lessee's interest in such Ground Lease is not subject to
      any liens or encumbrances superior to, or of equal priority with, the
      related Mortgage, other than Permitted Encumbrances;

            (iii) The Mortgagor's interest in such Ground Lease is assignable to
      the Purchaser and its successors and assigns upon notice to, but without
      the consent of, the lessor thereunder (or, if such consent is required, it
      has been obtained prior to the Closing Date) and, in the event that it is
      so assigned, is further assignable by the Purchaser and its successors and
      assigns upon notice to, but without the need to obtain the consent of,
      such lessor or if such lessor's consent is required it cannot be
      unreasonably withheld;

            (iv) Such Ground Lease is in full force and effect, and the Ground
      Lease provides that no material amendment to such Ground Lease is binding
      on a mortgagee unless the mortgagee has consented thereto, and the Seller
      has received no notice that an event of default has occurred thereunder,
      and, to the Seller's knowledge, there exists no condition that, but for
      the passage of time or the giving of notice, or both, would result in an
      event of default under the terms of such Ground Lease;

            (v) Such Ground Lease, or an estoppel letter or other agreement, (A)
      requires the lessor under such Ground Lease to give notice of any default
      by the lessee to the holder of the Mortgage; and (B) provides that no
      notice of termination given under such Ground Lease is effective against
      the holder of the Mortgage unless a copy of such notice has been delivered
      to such holder and the lessor has offered or is required to enter into a
      new lease with such holder on terms that do not materially vary from the
      economic terms of the Ground Lease.

            (vi) A mortgagee is permitted a reasonable opportunity (including,
      where necessary, sufficient time to gain possession of the interest of the
      lessee under such Ground Lease) to cure any default under such Ground
      Lease, which is curable after the receipt of notice of any such default,
      before the lessor thereunder may terminate such Ground Lease;

            (vii) Such Ground Lease has an original term (including any
      extension options set forth therein) which extends not less than twenty
      years beyond the Stated Maturity Date of the related Mortgage Loan;

            (viii) Under the terms of such Ground Lease and the related
      Mortgage, taken together, any related insurance proceeds or condemnation
      award awarded to the holder of the ground lease interest will be applied
      either (A) to the repair or restoration of all or part of the related
      Mortgaged Property, with the mortgagee or a trustee appointed by the
      related Mortgage having the right to hold and disburse such proceeds as
      the repair or restoration progresses (except in such cases where a
      provision entitling a third party to hold and disburse such proceeds would
      not be viewed as commercially unreasonable by a prudent commercial
      mortgage lender), or (B) to the payment of the outstanding principal
      balance of the Mortgage Loan together with any accrued interest thereon;
      and

            (ix) Such Ground Lease does not impose any restrictions on
      subletting which would be viewed as commercially unreasonable by prudent
      commercial mortgage lenders lending on a similar Mortgaged Property in the
      lending area where the Mortgaged Property is located; and such Ground
      Lease contains a covenant that the lessor thereunder is not permitted, in
      the absence of an uncured default, to disturb the possession, interest or
      quiet enjoyment of the lessee thereunder for any reason, or in any manner,
      which would materially adversely affect the security provided by the
      related Mortgage.

            (x) Such Ground Lease requires the Lessor to enter into a new lease
      upon termination of such Ground Lease if the Ground Lease is rejected in a
      bankruptcy proceeding.

            18. Escrow Deposits. All escrow deposits and payments relating to
each Mortgage Loan that are, as of the Closing Date, required to be deposited or
paid have been so deposited or paid.

            19. LTV Ratio. The gross proceeds of each Mortgage Loan to the
related Mortgagor at origination did not exceed the non-contingent principal
amount of the Mortgage Loan and either: (a) such Mortgage Loan is secured by an
interest in real property having a fair market value (i) at the date the
Mortgage Loan was originated, at least equal to 80 percent of the original
principal balance of the Mortgage Loan or (ii) at the Closing Date, at least
equal to 80 percent of the principal balance of the Mortgage Loan on such date;
provided that for purposes hereof, the fair market value of the real property
interest must first be reduced by (x) the amount of any lien on the real
property interest that is senior to the Mortgage Loan and (y) a proportionate
amount of any lien that is in parity with the Mortgage Loan (unless such other
lien secures a Mortgage Loan that is cross-collateralized with such Mortgage
Loan, in which event the computation described in clauses (a)(i) and (a)(ii) of
this paragraph 19 shall be made on a pro rata basis in accordance with the fair
market values of the Mortgaged Properties securing such cross-collateralized
Mortgage Loans); or (b) substantially all the proceeds of such Mortgage Loan
were used to acquire, improve or protect the real property that served as the
only security for such Mortgage Loan (other than a recourse feature or other
third party credit enhancement within the meaning of Treasury Regulations
Section 1.860G-2(a)(1)(ii)).

            20. Mortgage Loan Modifications. Any Mortgage Loan that was
"significantly modified" prior to the Closing Date so as to result in a taxable
exchange under Section 1001 of the Code either (a) was modified as a result of
the default under such Mortgage Loan or under circumstances that made a default
reasonably foreseeable or (b) satisfies the provisions of either clause (a)(i)
of paragraph 19 (substituting the date of the last such modification for the
date the Mortgage Loan was originated) or clause (a)(ii) of paragraph 19,
including the proviso thereto.

            21. Advancement of Funds by the Seller. No holder of a Mortgage Loan
has advanced funds or induced, solicited or knowingly received any advance of
funds from a party other than the owner of the related Mortgaged Property,
directly or indirectly, for the payment of any amount required by such Mortgage
Loan.

            22. No Mechanics' Liens. Each Mortgaged Property is free and clear
of any and all mechanics' and materialmen's liens that are prior or equal to the
lien of the related Mortgage, and no rights are outstanding that under law could
give rise to any such lien that would be prior or equal to the lien of the
related Mortgage except, in each case, for liens insured against by the Title
Policy referred to herein.

            23. Compliance with Usury Laws. Each Mortgage Loan complied with all
applicable usury laws in effect at its date of origination.

            24. Cross-collateralization. No Mortgage Loan is
cross-collateralized or cross-defaulted with any loan other than one or more
other Mortgage Loans.

            25. Releases of Mortgaged Property. Except as described in the next
sentence, no Mortgage Note or Mortgage requires the mortgagee to release all or
any material portion of the related Mortgaged Property that was included in the
appraisal for such Mortgaged Property, and/or generates income from the lien of
the related Mortgage except upon payment in full of all amounts due under the
related Mortgage Loan or in connection with the defeasance provisions of the
related Note and Mortgage. The Mortgages relating to those Mortgage Loans
identified on Schedule A hereto require the mortgagee to grant releases of
portions of the related Mortgaged Properties upon (a) the satisfaction of
certain legal and underwriting requirements and/or (b) the payment of a release
price and prepayment consideration in connection therewith. Except as described
in the first sentence hereof and for those Mortgage Loans identified on Schedule
A, no Mortgage Loan permits the full or partial release or substitution of
collateral unless the mortgagee or servicer can require the Mortgagor to provide
an opinion of tax counsel to the effect that such release or substitution of
collateral (a) would not constitute a "significant modification" of such
Mortgage Loan within the meaning of Treas. Reg. ss.1.1001-3 and (b) would not
cause such Mortgage LoaN to fail to be a "qualified mortgage" within the meaning
of Section 860G(a)(3)(A) of the Code.

            26. No Equity Participation or Contingent Interest. No Mortgage Loan
contains any equity participation by the lender or provides for negative
amortization (except that the ARD Loan may provide for the accrual of interest
at an increased rate after the Anticipated Repayment Date) or for any contingent
or additional interest in the form of participation in the cash flow of the
related Mortgaged Property.

            27. No Material Default. To the Seller's knowledge, there exists no
material default, breach, violation or event of acceleration (and no event
which, with the passage of time or the giving of notice, or both, would
constitute any of the foregoing) under the documents evidencing or securing the
Mortgage Loan, in any such case to the extent the same materially and adversely
affects the value of the Mortgage Loan and the related Mortgaged Property;
provided, however, that this representation and warranty does not address or
otherwise cover any default, breach, violation or event of acceleration that
specifically pertains to any matter otherwise covered by any other
representation and warranty made by the Seller in any of paragraphs 3, 7, 12,
14, 15, 16 and 17 of this Exhibit 2.

            28. Inspections. The Seller (or if the Seller is not the originator,
the originator of the Mortgage Loan) has inspected or caused to be inspected
each Mortgaged Property in connection with the origination of the related
Mortgage Loan.

            29. Local Law Compliance. Based on due diligence considered
reasonable by prudent commercial mortgage lenders in the lending area where the
Mortgaged Property is located, the improvements located on or forming part of
each Mortgaged Property comply with applicable zoning laws and ordinances, or
constitute a legal non-conforming use or structure or, if any such improvement
does not so comply, such non-compliance does not materially and adversely affect
the value of the related Mortgaged Property, such value as determined by the
appraisal performed at origination or in connection with the sale of the related
Mortgage Loan by the Seller hereunder.

            30. Junior Liens. None of the Mortgage Loans permits the related
Mortgaged Property to be encumbered by any lien (other than a Permitted
Encumbrance) junior to or of equal priority with the lien of the related
Mortgage without the prior written consent of the holder thereof or the
satisfaction of debt service coverage or similar criteria specified therein. The
Seller has no knowledge that any of the Mortgaged Properties is encumbered by
any lien junior to the lien of the related Mortgage.

            31. Actions Concerning Mortgage Loans. To the knowledge of the
Seller, there are no actions, suits or proceedings before any court,
administrative agency or arbitrator concerning any Mortgage Loan, Mortgagor or
related Mortgaged Property that might adversely affect title to the Mortgaged
Property or the validity or enforceability of the related Mortgage or that might
materially and adversely affect the value of the Mortgaged Property as security
for the Mortgage Loan or the use for which the premises were intended.

            32. Servicing. The servicing and collection practices used by the
Seller or any prior holder or servicer of each Mortgage Loan have been in all
material respects legal, proper and prudent and have met customary industry
standards.

            33. Licenses and Permits. To the Seller's knowledge, based on due
diligence that it customarily performs in the origination of comparable mortgage
loans, as of the date of origination of each Mortgage Loan or as of the date of
the sale of the related Mortgage Loan by the Seller hereunder, the related
Mortgagor was in possession of all material licenses, permits and franchises
required by applicable law for the ownership and operation of the related
Mortgaged Property as it was then operated.

            34. Collateral in Trust. The Mortgage Note for each Mortgage Loan is
not secured by a pledge of any collateral that has not been assigned to the
Purchaser.

            35. Due on Sale. Each Mortgage Loan contains a "due on sale" clause,
which provides for the acceleration of the payment of the unpaid principal
balance of the Mortgage Loan if, without prior written consent of the holder of
the Mortgage, the property subject to the Mortgage or any material portion
thereof, or a controlling interest in the related Mortgagor, is transferred,
sold or encumbered by a junior mortgage or deed of trust; provided, however,
that certain Mortgage Loans provide a mechanism for the assumption of the loan
by a third party upon the Mortgagor's satisfaction of certain conditions
precedent, and upon payment of a transfer fee, if any, or transfer of interests
in the Mortgagor or constituent entities of the Mortgagor to a third party or
parties related to the Mortgagor upon the Mortgagor's satisfaction of certain
conditions precedent.

            36. Non-Recourse Exceptions. The Mortgage Loan documents for each
Mortgage Loan provide that such Mortgage Loan constitutes either (a) the
recourse obligations of at least one natural person or (b) the non-recourse
obligations of the related Mortgagor, provided that at least one natural person
(and the Mortgagor if the Mortgagor is not a natural person) is liable to the
holder of the Mortgage Loan for damages arising in the case of fraud or willful
misrepresentation by the Mortgagor, misappropriation of rents, insurance
proceeds or condemnation awards and breaches of the environmental covenants in
the Mortgage Loan documents.

            37. Reserved.

            38. Reserved.

            39. Reserved.

            40. Prepayment Premiums. As of the applicable date of origination of
each such Mortgage Loan, any prepayment premiums and yield maintenance charges
payable under the terms of the Mortgage Loans, in respect of voluntary
prepayments, constituted customary prepayment premiums and yield maintenance
charges for commercial mortgage loans of the Seller.

            41. Reserved.

            42. Single Purpose Entity. The Mortgagor on each Mortgage Loan with
a Cut-Off Date Principal Balance in excess of $10 million, was, as of the
origination of the Mortgage Loan, a Single Purpose Entity. For this purpose, a
"Single Purpose Entity" shall mean an entity, other than an individual, whose
organizational documents provide substantially to the effect that it was formed
or organized solely for the purpose of owning and operating one or more of the
Mortgaged Properties securing the Mortgage Loans and prohibit it from engaging
in any business unrelated to such Mortgaged Property or Properties, and whose
organizational documents further provide, or which entity represented in the
related Mortgage Loan documents, substantially to the effect that it does not
have any assets other than those related to its interest in, and operation of,
such Mortgaged Property or Properties, or any indebtedness other than as
permitted by the related Mortgage(s) or the other related Mortgage Loan
documents, that it has its own books and records and accounts separate and apart
from any other person (other than a Mortgagor for a Mortgage Loan that is
cross-collateralized and cross-defaulted with the related Mortgage Loan), and
that it holds itself out as a legal entity, separate and apart from any other
person.

            43. Defeasance and Assumption Costs. The related Mortgage Loan
Documents provide that the related borrower is responsible for the payment of
all reasonable costs and expenses of the Lender incurred in connection with the
defeasance of such Mortgage Loan and the release of the related Mortgaged
Property, and the borrower is required to pay all reasonable costs and expenses
of the Lender associated with the approval of an assumption of such Mortgage
Loan.

            44. Defeasance. No Mortgage Loan provides that it can be defeased
until the date that is more than two years after the Closing Date or provides
that it can be defeased with any property other than government securities (as
defined in Section 2(a)(16) of the Investment Company Act of 1940, as amended)
or any direct non-callable security issued or guaranteed as to principal or
interest by the United States.

<PAGE>

                                   Schedule A

                  EXCEPTIONS TO REPRESENTATIONS AND WARRANTIES
                       REGARDING INDIVIDUAL MORTGAGE LOANS
          (Morgan Stanley Dean Witter Mortgage Capital Inc. - 2002-IQ2)

REP NO.   MORTGAGE LOAN NO.          EXPLANATION
-------   -----------------          -----------

   14     2                          The Mortgaged Property is insured by,
                                     and the related Mortgage Loan documents
                                     require, a  business interruption
                                     insurance policy in an amount equal to
                                     100% of the projected gross income from
                                     the Mortgaged Property for a period from
                                     the date of the loss to a date which is
                                     three months from the date that the
                                     Mortgaged Property is repaired or
                                     replaced and operations have resumed.

   25     4, 5, 6, 7, 8, 9, 10, 11,  The Mortgage Loan documents for these
          12, 13, 14, 15, 45, 46,    Mortgage Loans permit partial defeasance,
          47 and 48                  subject to certain requirements set forth
                                     therein.

   36     1, 2, 4, 5, 6, 7, 8, 9,    The Mortgage Loan documents for each
          10, 11, 12, 13, 14, 15,    Mortgage Loan do not provide either (a)
          45, 46, 47, 48 and 64      that such Mortgage Loan constitutes the
                                     recourse obligations of at least one
                                     natural person or (b) for any of the
                                     non-recourse exceptions set forth in the
                                     representation and warranty.

<PAGE>

                                   Schedule B

    List of Mortgagors that are Third-Party Beneficiaries Under Section 5(b)

                                      None

<PAGE>

                                    EXHIBIT 3

                               PRICING FORMULATION

              Purchase Price                          $202,176,587

<PAGE>

                                    EXHIBIT 4

                                  BILL OF SALE

            1.    PARTIES. The parties to this Bill of Sale are the following:

                  Seller:           Morgan Stanley Dean Witter Mortgage
                                    Capital Inc.

                  Purchaser:        Morgan Stanley Dean Witter Capital I Inc.

            2. SALE. For value received, the Seller hereby conveys to the
Purchaser, without recourse, all right, title and interest in and to the
Mortgage Loans identified on Exhibit 1 (the "Mortgage Loan Schedule") to the
Mortgage Loan Purchase Agreement, dated as of June 1, 2002 (the "Mortgage Loan
Purchase Agreement"), between the Seller and the Purchaser and all of the
following property:

            (a) All accounts, general intangibles, chattel paper, instruments,
      documents, money, deposit accounts, certificates of deposit, goods,
      letters of credit, advices of credit and investment property consisting
      of, arising from or relating to any of the following property: the
      Mortgage Loans identified on the Mortgage Loan Schedule including the
      related Mortgage Notes, Mortgages, security agreements, and title, hazard
      and other insurance policies, all distributions with respect thereto
      payable after the Cut-Off Date, all substitute or replacement Mortgage
      Loans and all distributions with respect thereto, and the Mortgage Files;

            (b) All accounts, general intangibles, chattel paper, instruments,
      documents, money, deposit accounts, certificates of deposit, goods,
      letters of credit, advices of credit, investment property, and other
      rights arising from or by virtue of the disposition of, or collections
      with respect to, or insurance proceeds payable with respect to, or claims
      against other Persons with respect to, all or any part of the collateral
      described in clause (a) above (including any accrued discount realized on
      liquidation of any investment purchased at a discount); and

            (c) All cash and non-cash proceeds of the collateral described in
      clauses (a) and (b) above.

            3. PURCHASE PRICE. The amount and other consideration set forth on
Exhibit 3 to the Mortgage Loan Purchase Agreement.

            4. DEFINITIONS. Terms used but not defined herein shall have the
meanings assigned to them in the Mortgage Loan Purchase Agreement.

<PAGE>

            IN WITNESS WHEREOF, each of the parties hereto has caused this Bill
of Sale to be duly executed and delivered on this [__]th day of June, 2002.

SELLER:                                 MORGAN STANLEY DEAN WITTER
                                           MORTGAGE CAPITAL INC.

                                        By:_____________________________________
                                           Name:
                                           Title:

PURCHASER:                             MORGAN STANLEY DEAN WITTER
                                           CAPITAL I INC.

                                        By:_____________________________________
                                           Name:
                                           Title:

<PAGE>

                                    EXHIBIT 5

                        FORM OF LIMITED POWER OF ATTORNEY

THIS DOCUMENT PREPARED BY,
AND AFTER RECORDING RETURN TO:

Lend Lease Asset Management, L.P.
700 North Pearl Street, Suite 2400
Dallas, Texas 75201
Attention: Michael O'Hanlon

LaSalle Bank National Association
135 South LaSalle Street, Suite 1625
Chicago, Illinois 60603
Attention: Asset-Backed Securities Trust Services Group

--------------------------------------------------------------------------------

                            LIMITED POWER OF ATTORNEY

            Know all persons by these presents; that the undersigned, having an
address of [MORTGAGE LOAN SELLER'S ADDRESS] (the "Seller"), being duly empowered
and authorized to do so, does hereby make, constitute and appoint Lend Lease
Asset Management, L.P., having an address of 700 North Pearl Street, Suite 2400,
Dallas, Texas 75201, Attention: Michael O'Hanlon (the "Special Servicer") and
LaSalle Bank National Association, having an address of 135 South LaSalle
Street, Suite 1625, Chicago, Illinois 60603, Attention: Asset-Backed Securities
Trust Services Group--Morgan Stanley Dean Witter Capital I Inc., Series 2002-IQ2
(the "Trustee") as the true and lawful attorneys-in-fact for the undersigned, in
its name, place and stead, and for its use and benefit:

To empower the Trustee and, in the event of the failure or incapacity of the
      Trustee, the Special Servicer, to submit for recording, at the expense of
      the Seller, any mortgage loan documents required to be recorded as
      described in the Pooling and Servicing Agreement and any intervening
      assignments with evidence of recording thereon that are required to be
      included in the Mortgage File (so long as original counterparts have
      previously been delivered to the Trustee).

This power of attorney shall be limited to the above-mentioned exercise of
      power.

This instrument is to be construed and interpreted as a limited power of
      attorney. The enumeration of specific items, rights, acts or powers herein
      is not intended to, nor does it give rise to, and it is not intended to be
      construed as, a general power of attorney.

The rights, power of authority of said attorney herein granted shall commence
      and be in full force and effect on the date hereof and such rights, powers
      and authority shall remain in full force and effect until the termination
      of the Pooling and Servicing Agreement, dated as of June 1, 2002 (the
      "Pooling and Servicing Agreement"), among Morgan Stanley Dean Witter
      Capital I Inc., as Depositor, ORIX Capital Markets, LLC, as Master
      Servicer, the Special Servicer, the Trustee and ABN AMRO Bank N.V., as
      Fiscal Agent, with respect to the Trust.

            Capitalized terms used herein but not defined herein shall have the
meanings assigned to them in the Pooling and Servicing Agreement.

<PAGE>

IN WITNESS WHEREOF, I have hereunto set my hand this ____ day of June, 2002.

Witnessed by:                           [SELLER]

___________________________             By:________________________
Print Name:                             Name:
                                        Title:

STATE OF______________________)

COUNTY OF_____________________)

On __________________________, before me, a Notary Public in and for said
county, personally appeared ________________________________, personally known
to me (or proved to me on the basis of satisfactory evidence) to be the person
whose name is subscribed to the within instrument and acknowledged to me that
he/she executed the same in his/her authorized capacity, and that by his/her
signature on the instrument the person acted and executed the instrument.
Witness my hand and official seal.

_______________________________________
Commission Expires:

<PAGE>

                                   EXHIBIT K-3

                  FORM OF MORTGAGE LOAN PURCHASE AGREEMENT III
                                   (PRINCIPAL)

<PAGE>

                                                                  EXECUTION COPY

                        MORTGAGE LOAN PURCHASE AGREEMENT
                                (PRINCIPAL LOANS)

            Mortgage Loan Purchase Agreement ("Agreement"), dated as of June 1,
2002, among Principal Enterprise Capital I, LLC (the "Additional Party"),
Principal Silver, LLC (the "Seller"), and Morgan Stanley Dean Witter Capital I
Inc. (the "Purchaser").

            The Seller agrees to sell and the Purchaser agrees to purchase
certain mortgage loans listed on Exhibit 1 hereto (the "Mortgage Loans") as
described herein. The Purchaser will convey the Mortgage Loans to a trust (the
"Trust") created pursuant to a Pooling and Servicing Agreement (the "Pooling and
Servicing Agreement"), to be dated as of June 1, 2002, between the Purchaser, as
depositor, ORIX Capital Markets, LLC, as master servicer (the "Master
Servicer"), Lend Lease Asset Management, L.P., as special servicer (the "Special
Servicer"), LaSalle Bank National Association, as trustee, paying agent and
certificate registrar (the "Trustee") and ABN AMRO Bank N.V., as fiscal agent
(the "Fiscal Agent"). In exchange for the Mortgage Loans and certain other
mortgage loans to be purchased by the Purchaser (collectively the "Other
Mortgage Loans"), the Trust will issue to the Depositor pass-through
certificates to be known as Morgan Stanley Dean Witter Capital I Inc.,
Commercial Mortgage Pass-Through Certificates, Series 2002-IQ2 (the
"Certificates"). The Certificates will be issued pursuant to the Pooling and
Servicing Agreement.

            Capitalized terms used herein but not defined herein shall have the
meanings assigned to them in the Pooling and Servicing Agreement.

            The Class A-1, Class A-2, Class A-3, Class B, Class C and Class D
Certificates (the "Public Certificates") will be sold by the Purchaser to Morgan
Stanley & Co. Incorporated and Credit Suisse First Boston Corporation (the
"Underwriters"), pursuant to an Underwriting Agreement, between the Purchaser
and the Underwriters, dated June 19, 2002 (the "Underwriting Agreement"), and
the Class X-1, Class X-2, Class E, Class F, Class G, Class H, Class J, Class K,
Class L, Class M, Class N, Class O, Class R-I, Class R-II and Class R-III
Certificates (the "Private Certificates") will be sold by the Purchaser to
Morgan Stanley & Co. Incorporated (the "Initial Purchaser") pursuant to a
Certificate Purchase Agreement, between the Purchaser and the Initial Purchaser,
dated June 19, 2002 (the "Certificate Purchase Agreement"). The Underwriters
will offer the Public Certificates for sale publicly pursuant to a Prospectus
dated June 6, 2002, as supplemented by a Prospectus Supplement dated June 19,
2002 (together, the "Prospectus Supplement"), and the Initial Purchaser will
offer the Private Certificates for sale in transactions exempt from the
registration requirements of the Securities Act of 1933 pursuant to a Private
Placement Memorandum dated June 19, 2002 (the "Memorandum").

            In consideration of the mutual agreements contained herein, the
Seller and the Purchaser hereby agree as follows:

            Section 1. Agreement to Purchase. The Seller agrees to sell, and the
Purchaser agrees to purchase, on a servicing released basis, the Mortgage Loans
identified on the schedule (the "Mortgage Loan Schedule") annexed hereto as
Exhibit 1, as such schedule may be amended to reflect the actual Mortgage Loans
accepted by the Purchaser pursuant to the terms hereof. The Cut-Off Date with
respect to the Mortgage Loans is June 1, 2002. The Mortgage Loans will have an
aggregate principal balance as of the close of business on the Cut-Off Date,
after giving effect to any payments due on or before such date, whether or not
received, of $182,273,000. The sale of the Mortgage Loans shall take place on
June 27, 2002 or such other date as shall be mutually acceptable to the parties
hereto (the "Closing Date"). The purchase price to be paid by the Purchaser for
the Mortgage Loans shall equal the amount set forth as such purchase price on
Exhibit 3 hereto. The purchase price shall be paid to the Seller by wire
transfer in immediately available funds on the Closing Date.

            On the Closing Date, the Purchaser will assign to the Trustee
pursuant to the Pooling and Servicing Agreement all of its right, title and
interest in and to the Mortgage Loans and its rights under this Agreement (to
the extent set forth in Section 14), and the Trustee shall succeed to such
right, title and interest in and to the Mortgage Loans and the Purchaser's
rights under this Agreement (to the extent set forth in Section 14).

            Section 2. Conveyance of Mortgage Loans. Effective as of the Closing
Date, subject only to receipt of the consideration referred to in Section 1
hereof and the satisfaction of the conditions specified in Sections 6 and 7
hereof, the Seller does hereby transfer, assign, set over and otherwise convey
to the Purchaser, without recourse, all the right, title and interest of the
Seller, subject to that certain Servicing Rights Purchase and Sale Agreement,
dated June 1, 2002, between the Seller and the Master Servicer, in and to the
Mortgage Loans identified on the Mortgage Loan Schedule as of the Closing Date.
The Mortgage Loan Schedule, as it may be amended from time to time on or prior
to the Closing Date, shall conform to the requirements of this Agreement and the
Pooling and Servicing Agreement. In connection with such transfer and
assignment, the Seller shall deliver to or on behalf of the Trustee, on behalf
of the Purchaser, on or prior to the Closing Date, the Mortgage Note (as
described in clause (a) below) for each Mortgage Loan and on or prior to the
fifth Business Day after the Closing Date, one limited power of attorney
substantially in the form attached hereto as Exhibit 5 in favor of the Trustee,
the Master Servicer and the Special Servicer to empower the Trustee and, in the
event of the failure or incapacity of the Trustee, the Master Servicer or the
Special Servicer, to submit for recording, at the expense of the Seller, any
mortgage loan documents required to be recorded as described in the Pooling and
Servicing Agreement and any intervening assignments with evidence of recording
thereon that are required to be included in the Mortgage Files (so long as
original counterparts have previously been delivered to the Trustee). The Seller
agrees to reasonably cooperate with the Trustee, the Master Servicer and the
Special Servicer in connection with any additional powers of attorney or
revisions thereto that are requested by such parties for purposes of such
recordation. The parties hereto agree that no such power of attorney shall be
used with respect to any Mortgage Loan by or under authorization by any party
hereto except to the extent that the absence of a document described in the
second preceding sentence with respect to such Mortgage Loan remains unremedied
as of the earlier of (i) the date that is 180 days following the delivery of
notice of such absence to the Seller, but in no event earlier than 18 months
from the Closing Date, and (ii) the date (if any) on which such Mortgage Loan
becomes a Specially Serviced Mortgage Loan. The Trustee shall submit such
documents, at the Seller's expense, after the periods set forth above, provided,
however, the Trustee shall not submit such assignments for recording if the
Seller produces evidence that it has sent any such assignment for recording and
certifies that the Seller is awaiting its return from the applicable recording
office. In addition, not later than the 30th day following the Closing Date, the
Seller shall deliver to or on behalf of the Trustee each of the remaining
documents or instruments specified below (with such exceptions as are permitted
by this Section) with respect to each Mortgage Loan (each, a "Mortgage File").
(The Seller acknowledges that the term "without recourse" does not modify the
duties of the Seller under Section 5 hereof.)

            All Mortgage Files, or portions thereof, delivered prior to the
Closing Date are to be held by or on behalf of the Trustee in escrow on behalf
of the Seller at all times prior to the Closing Date. The Mortgage Files shall
be released from escrow upon closing of the sale of the Mortgage Loans and
payments of the purchase price therefor as contemplated hereby. The Mortgage
File for each Mortgage Loan shall contain the following documents:

            (a) The original Mortgage Note bearing all intervening endorsements,
endorsed "Pay to the order of LaSalle Bank National Association, as Trustee for
Morgan Stanley Dean Witter Capital I Inc., Commercial Mortgage Pass-Through
Certificates, Series 2002-IQ2, without recourse, representation or warranty" or
if the original Mortgage Note is not included therein, then a lost note
affidavit, with a copy of the Mortgage Note attached thereto;

            (b) The original Mortgage, with evidence of recording thereon, and,
if the Mortgage was executed pursuant to a power of attorney, a certified true
copy of the power of attorney certified by the public recorder's office, with
evidence of recording thereon (if recording is customary in the jurisdiction in
which such power of attorney was executed), or certified by a title insurance
company or escrow company to be a true copy thereof; provided that if such
original Mortgage cannot be delivered with evidence of recording thereon on or
prior to the 45th day following the Closing Date because of a delay caused by
the public recording office where such original Mortgage has been delivered for
recordation or because such original Mortgage has been lost, the Seller shall
deliver or cause to be delivered to the Trustee a true and correct copy of such
Mortgage, together with (i) in the case of a delay caused by the public
recording office, an Officer's Certificate (as defined below) of the Seller
stating that such original Mortgage has been sent to the appropriate public
recording official for recordation or (ii) in the case of an original Mortgage
that has been lost after recordation, a certification by the appropriate county
recording office where such Mortgage is recorded that such copy is a true and
complete copy of the original recorded Mortgage;

            (c) The originals of all agreements modifying a Money Term or other
material modification, consolidation and extension agreements, if any, with
evidence of recording thereon, or if any such original modification,
consolidation or extension agreement has been delivered to the appropriate
recording office for recordation and either has not yet been returned on or
prior to the 45th day following the Closing Date with evidence of recordation
thereon or has been lost after recordation, a true copy of such modification,
consolidation or extension certified by the Seller together with (i) in the case
of a delay caused by the public recording office, an Officer's Certificate of
the Seller stating that such original modification, consolidation or extension
agreement has been dispatched or sent to the appropriate public recording
official for recordation or (ii) in the case of an original modification,
consolidation or extension agreement that has been lost after recordation, a
certification by the appropriate county recording office where such document is
recorded that such copy is a true and complete copy of the original recorded
modification, consolidation or extension agreement, and the originals of all
assumption agreements, if any;

            (d) An original Assignment of Mortgage for each Mortgage Loan, in
form and substance acceptable for recording, signed by the holder of record in
favor of "LaSalle Bank National Association, as Trustee for Morgan Stanley Dean
Witter Capital I Inc., Commercial Mortgage Pass-Through Certificates, Series
2002-IQ2";

            (e) Originals of all intervening assignments of Mortgage, if any,
with evidence of recording thereon or, if such original assignments of Mortgage
have been delivered to the appropriate recorder's office for recordation,
certified true copies of such assignments of Mortgage certified by the Seller,
or in the case of an original blanket intervening assignment of Mortgage
retained by the Seller, a copy thereof certified by the Seller or, if any
original intervening assignment of Mortgage has not yet been returned on or
prior to the 45th day following the Closing Date from the applicable recording
office or has been lost, a true and correct copy thereof, together with (i) in
the case of a delay caused by the public recording office, an Officer's
Certificate of the Seller stating that such original intervening assignment of
Mortgage has been sent to the appropriate public recording official for
recordation or (ii) in the case of an original intervening Assignment of
Mortgage that has been lost after recordation, a certification by the
appropriate county recording office where such assignment is recorded that such
copy is a true and complete copy of the original recorded intervening Assignment
of Mortgage;

            (f) If the related Assignment of Leases is separate from the
Mortgage, the original of such Assignment of Leases with evidence of recording
thereon or, if such Assignment of Leases has not been returned on or prior to
the 45th day following the Closing Date from the applicable public recording
office, a copy of such Assignment of Leases certified by the Seller to be a true
and complete copy of the original Assignment of Leases submitted for recording,
together with (i) an original of each assignment of such Assignment of Leases
with evidence of recording thereon and showing a complete recorded chain of
assignment from the named assignee to the holder of record, and if any such
assignment of such Assignment of Leases has not been returned from the
applicable public recording office, a copy of such assignment certified by the
Seller to be a true and complete copy of the original assignment submitted for
recording, and (ii) an original assignment of such Assignment of Leases, in
recordable form, signed by the holder of record in favor of "LaSalle Bank
National Association, as Trustee for Morgan Stanley Dean Witter Capital I Inc.,
Commercial Mortgage Pass-Through Certificates, Series 2002-IQ2," which
assignment may be effected in the related Assignment of Mortgage;

            (g) The original of each guaranty, if any, constituting additional
security for the repayment of such Mortgage Loan;

            (h) The original Title Insurance Policy, or in the event such
original Title Insurance Policy has not been issued, an original binder or
actual title commitment or a copy thereof certified by the title company with
the original Title Insurance Policy to follow within 180 days of the Closing
Date or a preliminary title report with an original Title Insurance Policy to
follow within 180 days of the Closing Date;

            (i) (A) UCC financing statements (together with all assignments
thereof) and (B) UCC-2 or UCC-3 financing statements to the Trustee executed and
delivered in connection with the Mortgage Loan;

            (j) Copies of the related ground lease(s), if any, to any Mortgage
Loan where the Mortgagor is the lessee under such ground lease and there is a
lien in favor of the mortgagee in such lease.

            (k) Copies of any loan agreements, lock-box agreements and
intercreditor agreements (including, without limitation, the One Seaport Plaza
Intercreditor Agreement and the Woodfield Intercreditor Agreement), if any,
related to any Mortgage Loan;

            (l) Either (A) the original of each letter of credit, if any,
constituting additional collateral for such Mortgage Loan, which shall be
assigned and delivered to the Trustee on behalf of the Trust with a copy to be
held by the Primary Servicer (or the Master Servicer), and applied, drawn,
reduced or released in accordance with documents evidencing or securing the
applicable Mortgage Loan, the Pooling and Servicing Agreement and the Primary
Servicing Agreement or (B) the original of each letter of credit, if any,
constituting additional collateral for such Mortgage Loan, which shall be held
by the applicable Primary Servicer (or the Master Servicer) on behalf of the
Trustee, with a copy to be held by the Trustee, and applied, drawn, reduced or
released in accordance with documents evidencing or securing the applicable
Mortgage Loan, the Pooling and Servicing Agreement and the Primary Servicing
Agreement (it being understood that the Seller has agreed (a) that the proceeds
of such letter of credit belong to the Trust, (b) to notify, on or before the
Closing Date, the bank issuing the letter of credit that the letter of credit
and the proceeds thereof belong to the Trust, and to use reasonable efforts to
obtain within 30 days (but in any event to obtain within 90 days) following the
Closing Date, an acknowledgement thereof by the bank (with a copy of such
acknowledgement to be sent to the Trustee) and (c) to indemnify the Trust for
any liabilities, charges, costs, fees or other expenses accruing from the
failure of the Seller to assign the letter of credit hereunder). In the case of
clause (B) above, any letter of credit held by the applicable Primary Servicer
(or Master Servicer) shall be held in its capacity as agent of the Trust, and if
the applicable Primary Servicer (or Master Servicer) sells its rights to service
the applicable Mortgage Loan, the applicable Primary Servicer (or Master
Servicer) has agreed to assign the applicable letter of credit to the Trust or
at the direction of the Special Servicer to such party as the Special Servicer
may instruct, in each case, at the expense of the applicable Primary Servicer
(or Master Servicer). The applicable Primary Servicer (or Master Servicer) has
agreed to indemnify the Trust for any loss caused by the ineffectiveness of such
assignment;

            (m) The original environmental indemnity agreement, if any, related
to any Mortgage Loan;

            (n) Third-party management agreements for hotels and mortgage
properties securing Mortgage Loans with a Cut-Off Date principal balance equal
to or greater than $20,000,000;

            (o) Any Environmental Insurance Policy; and

            (p) Any affidavit and indemnification agreement.

            The original of each letter of credit referred to in clause (l)
above shall be delivered to the Primary Servicer, the Master Servicer or the
Trustee (as the case may be) within 45 days of the Closing Date. In addition, a
copy of any ground lease shall be delivered to the Primary Servicer within 30
days of the Closing Date. Any failure to deliver any ground lease shall
constitute a document defect.

            "Officer's Certificate" shall mean a certificate signed by one or
more of the Chairman of the Board, any Vice Chairman, the President, any Senior
Vice President, any Vice President, any Assistant Vice President, any Treasurer
or any Assistant Treasurer.

            The Assignments of Mortgage and assignment of Assignment of Leases
referred to in clauses (d), (e) and (f) may be in the form of a single
instrument assigning the Mortgage and the Assignment of Leases to the extent
permitted by applicable law. To avoid the unnecessary expense and administrative
inconvenience associated with the execution and recording or filing of multiple
assignments of mortgages, assignments of leases (to the extent separate from the
mortgages) and assignments of UCC financing statements, the Seller shall
execute, in accordance with the third succeeding paragraph, the assignments of
mortgages, the assignments of leases (to the extent separate from the mortgages)
and the assignments of UCC financing statements relating to the Mortgage Loans
naming the Trustee on behalf of the Certificateholders as assignee.
Notwithstanding the fact that such assignments of mortgages, assignments of
leases (to the extent separate from the assignments of mortgages) and
assignments of UCC financing statements shall name the Trustee on behalf of the
Certificateholders as the assignee, the parties hereto acknowledge and agree
that the Mortgage Loans shall for all purposes be deemed to have been
transferred from the Seller to the Purchaser and from the Purchaser to the
Trustee on behalf of the Certificateholders.

            If the Seller cannot deliver, or cause to be delivered, as to any
Mortgage Loan, any of the documents and/or instruments referred to in clauses
(b), (c), (e) or (f), with evidence of recording thereon, solely because of a
delay caused by the public recording office where such document or instrument
has been delivered for recordation within such 45 day period, but the Seller
delivers a photocopy thereof (certified by the appropriate county recorder's
office to be a true and complete copy of the original thereof submitted for
recording), to the Trustee within such 45 day period, the Seller shall then
deliver within 90 days after the Closing Date the recorded document (or within
such longer period after the Closing Date as the Trustee may consent to, which
consent shall not be unreasonably withheld so long as the Seller is, as
certified in writing to the Trustee no less often than monthly, in good faith
attempting to obtain from the appropriate county recorder's office such original
or photocopy).

            The Trustee, as assignee or transferee of the Purchaser, shall be
entitled to all scheduled payments of principal due thereon after the Cut-Off
Date, all other payments of principal collected after the Cut-Off Date (other
than scheduled payments of principal due on or before the Cut-Off Date), and all
payments of interest on the Mortgage Loans allocable to the period commencing on
the Cut-Off Date. All scheduled payments of principal and interest due on or
before the Cut-Off Date and collected after the Cut-Off Date shall belong to the
Seller.

            Within 45 days following the Closing Date, the Seller shall deliver
and the Purchaser, the Trustee or the agents of either may submit or cause to be
submitted for recordation at the expense of the Seller, in the appropriate
public office for real property records, each assignment referred to in clauses
(d) and (f)(ii) above. Within 90 days following the Closing Date, the Seller
shall deliver and the Purchaser, the Trustee or the agents of either may submit
or cause to be submitted for filing, at the expense of the Seller, in the
appropriate public office for Uniform Commercial Code financing statements, the
assignment referred to in clause (i) above. If any such document or instrument
is lost or returned unrecorded or unfiled, as the case may be, because of a
defect therein, the Seller shall prepare a substitute therefor or cure such
defect, and the Seller shall, at its own expense (except in the case of a
document or instrument that is lost by the Trustee), record or file, as the case
may be, and deliver such document or instrument in accordance with this Section
2.

            Documents that are in the possession of the Seller, its agents or
its subcontractors that relate to the Mortgage Loans or Companion Loans and that
are not required to be delivered to the Trustee shall be shipped by the Seller
to or at the direction of the Master Servicer, on behalf of the Purchaser, on or
prior to the 75th day after the Closing Date, in accordance with Section 3.1 of
the Primary Servicing Agreement, if applicable.

            The documents required to be delivered to the Master Servicer (or in
the alternative, the Primary Servicer) shall include, to the extent required to
be (and actually) delivered to the Seller pursuant to the applicable Mortgage
Loan documents, copies of the following items: the Mortgage Note, any Mortgage,
the Assignment of Leases and the Assignment of Mortgage, any guaranty/indemnity
agreement, any loan agreement, the insurance policies or certificates, as
applicable, the property inspection reports, any financial statements on the
property, any escrow analysis, the tax bills, the Appraisal, the environmental
report, the engineering report, the asset summary, financial information on the
Mortgagor/sponsor and any guarantors, any letters of credit, any intercreditor
agreement and any Environmental Insurance Policies. Delivery of any of the
foregoing documents to the Primary Servicer shall be deemed a delivery to the
Master Servicer and satisfy Seller's obligations under this sub-paragraph.

            Upon the sale of the Mortgage Loans by the Seller to the Purchaser
pursuant to this Agreement, the ownership of each Mortgage Note, Mortgage and
the other contents of the related Mortgage File shall be vested in the Purchaser
and its assigns, and the ownership of all records and documents with respect to
the related Mortgage Loan prepared by or that come into the possession of the
Seller shall immediately vest in the Purchaser and its assigns, and shall be
delivered promptly by the Seller to or on behalf of either the Trustee or the
Master Servicer as set forth herein, subject to the requirements of the Primary
Servicing Agreement. The Seller's and Purchaser's records shall reflect the
transfer of each Mortgage Loan from the Seller to the Purchaser and its assigns
as a sale.

            It is the express intent of the parties hereto that the conveyance
of the Mortgage Loans and related property to the Purchaser by the Seller as
provided in this Section 2 be, and be construed as, an absolute sale of the
Mortgage Loans and related property. It is, further, not the intention of the
parties that such conveyance be deemed a pledge of the Mortgage Loans and
related property by the Seller to the Purchaser to secure a debt or other
obligation of the Seller. However, in the event that, notwithstanding the intent
of the parties, the Mortgage Loans or any related property are held to be the
property of the Seller, or if for any other reason this Agreement is held or
deemed to create a security interest in the Mortgage Loans or any related
property, then:

            (i) this Agreement shall be deemed to be a security agreement; and

            (ii) the conveyance provided for in this Section 2 shall be deemed
      to be a grant by the Seller to the Purchaser of a security interest in all
      of the Seller's right, title, and interest, whether now owned or hereafter
      acquired, in and to:

                  (A) All accounts, general intangibles, chattel paper,
            instruments, documents, money, deposit accounts, certificates of
            deposit, goods, letters of credit, advices of credit and investment
            property consisting of, arising from or relating to any of the
            following property: the Mortgage Loans identified on the Mortgage
            Loan Schedule, including the related Mortgage Notes, Mortgages,
            security agreements, and title, hazard and other insurance policies,
            all distributions with respect thereto payable after the Cut-Off
            Date, all substitute or replacement Mortgage Loans and all
            distributions with respect thereto, and the Mortgage Files;

                  (B) All accounts, general intangibles, chattel paper,
            instruments, documents, money, deposit accounts, certificates of
            deposit, goods, letters of credit, advices of credit, investment
            property and other rights arising from or by virtue of the
            disposition of, or collections with respect to, or insurance
            proceeds payable with respect to, or claims against other Persons
            with respect to, all or any part of the collateral described in
            clause (A) above (including any accrued discount realized on
            liquidation of any investment purchased at a discount); and

                  (C) All cash and non-cash proceeds of the collateral described
            in clauses (A) and (B) above.

            The possession by the Purchaser or its designee of the Mortgage
Notes, the Mortgages, and such other goods, letters of credit, advices of
credit, instruments, money, documents, chattel paper or certificated securities
shall be deemed to be possession by the secured party or possession by a
purchaser for purposes of perfecting the security interest pursuant to the
Uniform Commercial Code (including, without limitation, Sections 9-305 and 9-115
thereof) as in force in the relevant jurisdiction. Notwithstanding the
foregoing, the Seller makes no representation or warranty as to the perfection
of any such security interest.

            Notifications to Persons holding such property, and acknowledgments,
receipts, or confirmations from persons holding such property, shall be deemed
to be notifications to, or acknowledgments, receipts or confirmations from,
securities intermediaries, bailees or agents of, or Persons holding for, the
Purchaser or its designee, as applicable, for the purpose of perfecting such
security interest under applicable law.

            The Seller shall, to the extent consistent with this Agreement, take
such reasonable actions as may be necessary to ensure that, if this Agreement
were deemed to create a security interest in the property described above, such
security interest would be deemed to be a perfected security interest of first
priority under applicable law and will be maintained as such throughout the term
of the Agreement. In such case, the Seller shall file all filings necessary to
maintain the effectiveness of any original filings necessary under the Uniform
Commercial Code as in effect in any jurisdiction to perfect such security
interest in such property. In connection herewith, the Purchaser shall have all
of the rights and remedies of a secured party and creditor under the Uniform
Commercial Code as in force in the relevant jurisdiction.

            Notwithstanding anything to the contrary contained herein, and
subject to Section 2(a), the Purchaser shall not be required to purchase any
Mortgage Loan as to which any Mortgage Note (endorsed as described in clause (a)
above) required to be delivered to or on behalf of the Trustee or the Master
Servicer pursuant to this Section 2 on or before the Closing Date is not so
delivered, or is not properly executed or is defective on its face, and the
Purchaser's acceptance of the related Mortgage Loan on the Closing Date shall in
no way constitute a waiver of such omission or defect or of the Purchaser's or
its successors' and assigns' rights in respect thereof pursuant to Section 5.

            Section 3. Examination of Mortgage Files and Due Diligence Review.
The Seller shall (i) deliver to the Purchaser on or before the Closing Date a
diskette acceptable to the Purchaser that contains such information about the
Mortgage Loans as may be reasonably requested by the Purchaser, (ii) deliver to
the Purchaser investor files (collectively the "Collateral Information") with
respect to the assets proposed to be included in the Mortgage Pool and made
available at the Purchaser's headquarters in New York, and (iii) otherwise
cooperate fully with the Purchaser in its examination of the credit files,
underwriting documentation and Mortgage Files for the Mortgage Loans and its due
diligence review of the Mortgage Loans. The fact that the Purchaser has
conducted or has failed to conduct any partial or complete examination of the
credit files, underwriting documentation or Mortgage Files for the Mortgage
Loans shall not affect the right of the Purchaser or the Trustee to cause the
Seller to cure any Material Document Defect or Material Breach (each as defined
below), or to repurchase or replace the defective Mortgage Loans pursuant to
Section 5 of this Agreement.

            On or prior to the Closing Date, the Seller shall allow
representatives of any of the Purchaser, each Underwriter, the Initial
Purchaser, the Trustee, the Special Servicer and each Rating Agency to examine
and audit all books, records and files pertaining to the Mortgage Loans, the
Seller's underwriting procedures and the Seller's ability to perform or observe
all of the terms, covenants and conditions of this Agreement. Such examinations
and audits shall take place at one or more offices of the Seller during normal
business hours and shall not be conducted in a manner that is disruptive to the
Seller's normal business operations upon reasonable prior advance notice. In the
course of such examinations and audits, the Seller will make available to such
representatives of any of the Purchaser, each Underwriter, the Initial
Purchaser, the Trustee, the Special Servicer and each Rating Agency reasonably
adequate facilities, as well as the assistance of a sufficient number of
knowledgeable and responsible individuals who are familiar with the Mortgage
Loans and the terms of this Agreement, and the Seller shall cooperate fully with
any such examination and audit in all material respects. On or prior to the
Closing Date, the Seller shall provide the Purchaser with all material
information regarding the Seller's financial condition and access to
knowledgeable financial or accounting officers for the purpose of answering
questions with respect to the Seller's financial condition, financial statements
as provided to the Purchaser or other developments affecting the Seller's
ability to consummate the transactions contemplated hereby or otherwise
affecting the Seller in any material respect. Within 45 days after the Closing
Date, the Seller shall provide the Master Servicer or Primary Servicer, if
applicable, with any additional information identified by the Master Servicer or
Primary Servicer, if applicable, as necessary to complete the CMSA Property
File, to the extent that such information is available.

            The Purchaser may exercise any of its rights hereunder through one
or more designees or agents; provided the Purchaser has provided the Seller with
prior notice of the identity of such designee or agent.

            The Purchaser shall keep confidential any information regarding the
Seller and the Mortgage Loans that has been delivered into the Purchaser's
possession and that is not otherwise publicly available; provided, however, that
such information shall not be kept confidential (and the right to require
confidentiality under any confidentiality agreement is hereby waived) to the
extent such information is required to be included in the Memorandum or the
Prospectus Supplement or the Purchaser is required by law or court order to
disclose such information. If the Purchaser is required to disclose in the
Memorandum or the Prospectus Supplement confidential information regarding the
Seller as described in the preceding sentence, the Purchaser shall provide to
the Seller a copy of the proposed form of such disclosure prior to making such
disclosure and the Seller shall promptly, and in any event within two Business
Days, notify the Purchaser of any inaccuracies therein, in which case the
Purchaser shall modify such form in a manner that corrects such inaccuracies. If
the Purchaser is required by law or court order to disclose confidential
information regarding the Seller as described in the second preceding sentence,
the Purchaser shall notify the Seller and cooperate in the Seller's efforts to
obtain a protective order or other reasonable assurance that confidential
treatment will be accorded such information and, if in the absence of a
protective order or such assurance, the Purchaser is compelled as a matter of
law to disclose such information, the Purchaser shall, prior to making such
disclosure, advise and consult with the Seller and its counsel as to such
disclosure and the nature and wording of such disclosure and the Purchaser shall
use reasonable efforts to obtain confidential treatment therefor.
Notwithstanding the foregoing, if reasonably advised by counsel that the
Purchaser is required by a regulatory agency or court order to make such
disclosure immediately, then the Purchaser shall be permitted to make such
disclosure without prior review by the Seller.

            Section 4. Representations and Warranties of the Seller and the
Purchaser.

            (a) To induce the Purchaser to enter into this Agreement, the Seller
hereby makes for the benefit of the Purchaser and its assigns with respect to
each Mortgage Loan as of the date hereof (or as of such other date specifically
set forth in the particular representation and warranty) each of the
representations and warranties set forth on Exhibit 2 hereto, except as
otherwise set forth on Schedule A attached hereto, and hereby further represents
and warrants to the Purchaser as of the date hereof that:

                  (i) The Seller is duly organized and is validly existing as a
            limited liability company in good standing under the laws of the
            State of Delaware. The Seller has the requisite power and authority
            and legal right to own the Mortgage Loans and to transfer and convey
            the Mortgage Loans to the Purchaser and has the requisite power and
            authority to execute and deliver, engage in the transactions
            contemplated by, and perform and observe the terms and conditions
            of, this Agreement.

                  (ii) This Agreement has been duly and validly authorized,
            executed and delivered by the Seller, and assuming the due
            authorization, execution and delivery hereof by the Purchaser, this
            Agreement constitutes the valid, legal and binding agreement of the
            Seller, enforceable in accordance with its terms, except as such
            enforcement may be limited by (A) laws relating to bankruptcy,
            insolvency, reorganization, receivership or moratorium, (B) other
            laws relating to or affecting the rights of creditors generally, (C)
            general equity principles (regardless of whether such enforcement is
            considered in a proceeding in equity or at law) or (D) public policy
            considerations underlying the securities laws, to the extent that
            such public policy considerations limit the enforceability of the
            provisions of this Agreement that purport to provide indemnification
            from liabilities under applicable securities laws.

                  (iii) No consent, approval, authorization or order of,
            registration or filing with, or notice to, any governmental
            authority or court is required, under federal or state law, for the
            execution, delivery and performance of or compliance by the Seller
            with this Agreement, or the consummation by the Seller of any
            transaction contemplated hereby, other than (1) such qualifications
            as may be required under state securities or blue sky laws, (2) the
            filing or recording of financing statements, instruments of
            assignment and other similar documents necessary in connection with
            the Seller's sale of the Mortgage Loans to the Purchaser, (3) such
            consents, approvals, authorizations, qualifications, registrations,
            filings or notices as have been obtained and (4) where the lack of
            such consent, approval, authorization, qualification, registration,
            filing or notice would not have a material adverse effect on the
            performance by the Seller under this Agreement.

                  (iv) Neither the transfer of the Mortgage Loans to the
            Purchaser, nor the execution, delivery or performance of this
            Agreement by the Seller, conflicts or will conflict with, results or
            will result in a breach of, or constitutes or will constitute a
            default under (A) any term or provision of the Seller's articles of
            organization or by-laws, (B) any term or provision of any material
            agreement, contract, instrument or indenture to which the Seller is
            a party or by which it or any of its assets is bound or results in
            the creation or imposition of any lien, charge or encumbrance upon
            any of its property pursuant to the terms of any such indenture,
            mortgage, contract or other instrument, other than pursuant to this
            Agreement, or (C) after giving effect to the consents or taking of
            the actions contemplated in subsection (iii), any law, rule,
            regulation, order, judgment, writ, injunction or decree of any court
            or governmental authority having jurisdiction over the Seller or its
            assets, except where in any of the instances contemplated by clauses
            (B) or (C) above, any conflict, breach or default, or creation or
            imposition of any lien, charge or encumbrance, will not have a
            material adverse effect on the consummation of the transactions
            contemplated hereby by the Seller or its ability to perform its
            obligations and duties hereunder or result in any material adverse
            change in the business, operations, financial condition, properties
            or assets of the Seller, or in any material impairment of the right
            or ability of the Seller to carry on its business substantially as
            now conducted.

                  (v) There are no actions or proceedings against, or
            investigations of, the Seller pending or, to the Seller's knowledge,
            threatened in writing against the Seller before any court,
            administrative agency or other tribunal, the outcome of which could
            reasonably be expected to materially and adversely affect the
            transfer of the Mortgage Loans to the Purchaser or the execution or
            delivery by, or enforceability against, the Seller of this Agreement
            or have an effect on the financial condition of the Seller that
            would materially and adversely affect the ability of the Seller to
            perform its obligations under this Agreement.

                  (vi) On the Closing Date, the sale of the Mortgage Loans
            pursuant to this Agreement will effect a transfer by the Seller of
            all of its right, title and interest in and to the Mortgage Loans to
            the Purchaser.

                  (vii) To the Seller's knowledge, the Seller's Information (as
            defined in that certain indemnification agreement, dated June 1,
            2002, between the Seller, the Purchaser, the Underwriters and the
            Initial Purchaser (the "Indemnification Agreement")) relating to the
            Mortgage Loans does not contain any untrue statement of a material
            fact or omit to state a material fact necessary to make the
            statements therein, in the light of the circumstances under which
            they were made, not misleading. Notwithstanding anything contained
            herein to the contrary, this subparagraph (vii) shall run
            exclusively to the benefit of the Purchaser and no other party.

            To induce the Purchaser to enter into this Agreement, the Seller
hereby covenants that the foregoing representations and warranties and those set
forth on Exhibit 2 hereto will be true and correct in all material respects on
and as of the Closing Date with the same effect as if made on the Closing Date.

            Each of the representations, warranties and covenants made by the
Seller pursuant to this Section 4(a) shall survive the sale of the Mortgage
Loans and shall continue in full force and effect notwithstanding any
restrictive or qualified endorsement on the Mortgage Notes.

            (b) To induce the Seller to enter into this Agreement, the Purchaser
hereby represents and warrants to the Seller as of the date hereof:

                  (i) The Purchaser is a corporation duly organized, validly
            existing, and in good standing under the laws of the State of
            Delaware with full power and authority to carry on its business as
            presently conducted by it.

                  (ii) The Purchaser has full power and authority to acquire the
            Mortgage Loans, to execute and deliver this Agreement and to enter
            into and consummate all transactions contemplated by this Agreement.
            The Purchaser has duly and validly authorized the execution,
            delivery and performance of this Agreement and has duly and validly
            executed and delivered this Agreement. This Agreement, assuming due
            authorization, execution and delivery by the Seller, constitutes the
            valid and binding obligation of the Purchaser, enforceable against
            it in accordance with its terms, except as such enforceability may
            be limited by bankruptcy, insolvency, reorganization, moratorium and
            other similar laws affecting the enforcement of creditors' rights
            generally and by general principles of equity, regardless of whether
            such enforcement is considered in a proceeding in equity or at law.

                  (iii) No consent, approval, authorization or order of,
            registration or filing with, or notice to, any governmental
            authority or court is required, under federal or state law, for the
            execution, delivery and performance of or compliance by the
            Purchaser with this Agreement, or the consummation by the Purchaser
            of any transaction contemplated hereby that has not been obtained or
            made by the Purchaser.

                  (iv) Neither the purchase of the Mortgage Loans nor the
            execution, delivery and performance of this Agreement by the
            Purchaser will violate the Purchaser's certificate of incorporation
            or by-laws or constitute a default (or an event that, with notice or
            lapse of time or both, would constitute a default) under, or result
            in a breach of, any material agreement, contract, instrument or
            indenture to which the Purchaser is a party or that may be
            applicable to the Purchaser or its assets.

                  (v) The Purchaser's execution and delivery of this Agreement
            and its performance and compliance with the terms of this Agreement
            will not constitute a violation of, any law, rule, writ, injunction,
            order or decree of any court, or order or regulation of any federal,
            state or municipal government agency having jurisdiction over the
            Purchaser or its assets, which violation could materially and
            adversely affect the condition (financial or otherwise) or the
            operation of the Purchaser or its assets or could materially and
            adversely affect its ability to perform its obligations and duties
            hereunder.

                  (vi) There are no actions or proceedings against, or
            investigations of, the Purchaser pending or, to the Purchaser's
            knowledge, threatened against the Purchaser before any court,
            administrative agency or other tribunal, the outcome of which could
            reasonably be expected to adversely affect the transfer of the
            Mortgage Loans, the issuance of the Certificates, the execution,
            delivery or enforceability of this Agreement or have an effect on
            the financial condition of the Purchaser that would materially and
            adversely affect the ability of the Purchaser to perform its
            obligation under this Agreement.

                  (vii) The Purchaser has not dealt with any broker, investment
            banker, agent or other person, other than the Seller, the
            Underwriters, the Initial Purchaser and their respective affiliates,
            that may be entitled to any commission or compensation in connection
            with the sale of the Mortgage Loans or consummation of any of the
            transactions contemplated hereby.

            To induce the Seller to enter into this Agreement, the Purchaser
hereby covenants that the foregoing representations and warranties will be true
and correct in all material respects on and as of the Closing Date with the same
effect as if made on the Closing Date.

            Each of the representations and warranties made by the Purchaser
pursuant to this Section 4(b) shall survive the purchase of the Mortgage Loans.

            Section 5. Remedies Upon Breach of Representations and Warranties
Made by the Seller.

            (a) It is hereby acknowledged that the Seller shall make for the
benefit of the Trustee on behalf of the holders of the Certificates, whether
directly or by way of the Purchaser's assignment of its rights hereunder to the
Trustee, the representations and warranties set forth on Exhibit 2 hereto (each
as of the date hereof unless otherwise specified).

            (b) It is hereby further acknowledged that if any document required
to be delivered to the Trustee pursuant to Section 2 is not delivered as and
when required, not properly executed or is defective on its face, or if there is
a breach of any of the representations and warranties required to be made by the
Seller regarding the characteristics of the Mortgage Loans and/or the related
Mortgaged Properties as set forth in Exhibit 2 hereto, and in either case such
defect or breach, either (i) materially and adversely affects the interests of
the holders of the Certificates in the related Mortgage Loan, or (ii) both (A)
the document defect or breach materially and adversely affects the value of the
Mortgage Loan and (B) the Mortgage Loan is a Specially Serviced Mortgage Loan or
Rehabilitated Mortgage Loan (such a document defect described in the preceding
clause (i) or (ii), a "Material Document Defect" and such a breach described in
the preceding clause (i) or (ii) a "Material Breach"), the party discovering
such Material Document Defect or Material Breach shall promptly notify, in
writing, the other parties; provided that any breach of the representation and
warranty contained in paragraph (40) of such Exhibit 2 shall constitute a
Material Breach only if such prepayment premium or yield maintenance charge is
not deemed "customary" for commercial mortgage loans as evidenced by (i) an
opinion of tax counsel to such effect or (ii) a determination by the Internal
Revenue Service that such provision is not customary. Promptly (but in any event
within three Business Days) upon becoming aware of any such Material Document
Defect or Material Breach, the Master Servicer shall, and the Special Servicer
may, request that the Seller, not later than 85 days from the Seller's receipt
of the notice of such Material Document Defect or Material Breach, cure such
Material Document Defect or Material Breach, as the case may be, in all material
respects; provided, however, that if such Material Document Defect or Material
Breach, as the case may be, cannot be corrected or cured in all material
respects within such 85-day period, and such Material Document Defect or
Material Breach would not cause the Mortgage Loan to be other than a "qualified
mortgage"(as defined in the Code) but the Seller is diligently attempting to
effect such correction or cure, as certified by the Seller in an Officer's
Certificate delivered to the Trustee, then the cure period will be extended for
an additional 90 days unless, solely in the case of a Material Document Defect,
(x) the Mortgage Loan is then a Specially Serviced Mortgage Loan and a Servicing
Transfer Event has occurred as a result of a monetary default or as described in
clause (ii) or clause (v) of the definition of "Servicing Transfer Event" in the
Pooling and Servicing Agreement and (y) the Material Document Defect was
identified in a certification delivered to the Seller by the Trustee pursuant to
Section 2.2 of the Pooling and Servicing Agreement not less than 85 days prior
to the delivery of the notice of such Material Document Defect. The parties
acknowledge that neither delivery of a certification or schedule of exceptions
to the Seller pursuant to Section 2.2 of the Pooling and Servicing Agreement or
otherwise nor possession of such certification or schedule by the Seller shall,
in and of itself, constitute delivery of notice of any Material Document Defect
or knowledge or awareness by the Seller of any Material Document Defect listed
therein.

            The Seller hereby covenants and agrees that, if any such Material
Document Defect or Material Breach cannot be corrected or cured within the above
cure periods, the Seller shall, on or before the termination of such cure
periods, either (i) repurchase the affected Mortgage Loan or REO Mortgage Loan
from the Purchaser or its assignee at the Purchase Price as defined in the
Pooling and Servicing Agreement, or (ii) if within the two-year period
commencing on the Closing Date, at its option replace, without recourse, any
Mortgage Loan or REO Mortgage Loan to which such defect relates with a
Qualifying Substitute Mortgage Loan. If such Material Document Defect or
Material Breach would cause the Mortgage Loan to be other than a "qualified
mortgage" (as defined in the Code), then notwithstanding the previous sentence,
such repurchase or substitution must occur within 85 days from the earlier of
the date the Seller discovered or was notified of the defect. The Seller agrees
that any substitution shall be completed in accordance with the terms and
conditions of the Pooling and Servicing Agreement.

            If (i) a Mortgage Loan is to be repurchased or replaced as
contemplated above (a "Defective Mortgage Loan"), (ii) such Defective Mortgage
Loan is cross-collateralized and cross-defaulted with one or more other Mortgage
Loans ("Crossed Mortgage Loans") and (iii) the applicable document defect or
breach does not constitute a Material Document Defect or Material Breach, as the
case may be, as to such Crossed Mortgage Loans (without regard to this
paragraph), then the applicable document defect or breach (as the case may be)
shall be deemed to constitute a Material Document Defect or Material Breach, as
the case may be, as to each such Crossed Mortgage Loan for purposes of the above
provisions, and the Seller shall be obligated to repurchase or replace each such
Crossed Mortgage Loan in accordance with the provisions above, unless, in the
case of such breach or document defect, both of the following conditions would
be satisfied if the Seller were to repurchase or replace only those Mortgage
Loans as to which a Material Breach or Material Document Defect had occurred
without regard to this paragraph (the "Affected Loan(s)"): (1) the debt service
coverage ratio for all such other Mortgage Loans (excluding the Affected
Loan(s)) for the four calendar quarters immediately preceding the repurchase or
replacement is not less than 0.10x below the lesser of (x) the debt service
coverage ratio for all such Mortgage Loans (including the Affected Loans(s)) set
forth in Appendix II to the Final Prospectus Supplement and (y) the debt service
coverage ratio for all such Crossed Mortgage Loans (including the Affected
Loan(s)) for the four preceding calendar quarters preceding the repurchase or
replacement, and (2) the loan-to-value ratio for all such Crossed Mortgage Loans
(excluding the Affected Loan(s)) is not greater than 10% more than the greater
of (x) the loan-to-value ratio, expressed as a whole number (taken to one
decimal place), for all such Crossed Mortgage Loans (including the Affected
Loan(s)) set forth in Appendix II to the Final Prospectus Supplement and (y) the
loan-to-value ratio for all such Crossed Mortgage Loans (including the Affected
Loans(s)), at the time of repurchase or replacement. The determination of the
Master Servicer as to whether the conditions set forth above have been satisfied
shall be conclusive and binding in the absence of manifest error. The Master
Servicer will be entitled to cause to be delivered, or direct the Seller to (in
which case the Seller shall) cause to be delivered to the Master Servicer, an
Appraisal of any or all of the related Mortgaged Properties for purposes of
determining whether the condition set forth in clause (2) above has been
satisfied, in each case at the expense of the Seller if the scope and cost of
the Appraisal is approved by the Seller (such approval not to be unreasonably
withheld).

            With respect to any Defective Mortgage Loan, to the extent that the
Seller is required to repurchase or substitute for such Defective Mortgage Loan
(each, a "Repurchased Loan") in the manner prescribed above while the Trustee
(as assignee of the Purchaser) continues to hold any Crossed Mortgage Loan, the
Seller and the Purchaser hereby agree to forebear from enforcing any remedies
against the other's Primary Collateral but may exercise remedies against the
Primary Collateral securing their respective Mortgage Loans, including with
respect to the Trustee, the Primary Collateral securing the Mortgage Loans still
held by the Trustee, so long as such exercise does not impair the ability of the
other party to exercise its remedies against its Primary Collateral. If the
exercise of remedies by one party would impair the ability of the other party to
exercise its remedies with respect to the Primary Collateral securing the
Mortgage Loan or Mortgage Loans held by such party, then both parties shall
forbear from exercising such remedies until the loan documents evidencing and
securing the relevant Mortgage Loans can be modified in a manner that complies
with the Pooling and Servicing Agreement to remove the threat of impairment as a
result of the exercise of remedies. Any reserve or other cash collateral or
letters of credit securing the Crossed Mortgage Loans shall be allocated between
such Mortgage Loans in accordance with the Mortgage Loan documents, or otherwise
on a pro rata basis based upon their outstanding Principal Balances. All other
terms of the Mortgage Loans shall remain in full force and effect, without any
modification thereof. The Mortgagors set forth on Schedule B hereto are intended
third-party beneficiaries of the provisions set forth in this paragraph and the
preceding paragraph. The provisions of this paragraph and the preceding
paragraph may not be modified with respect to any Mortgage Loan without the
related Mortgagor's consent.

            Any of the following document defects shall be conclusively presumed
materially and adversely to affect the interests of Certificateholders in a
Mortgage Loan and be a Material Document Defect: (a) the absence from the
Mortgage File of the original signed Mortgage Note, unless the Mortgage File
contains a signed lost note affidavit and indemnity that appears to be regular
on its face; (b) the absence from the Mortgage File of the original signed
Mortgage that appears to be regular on its face, unless there is included in the
Mortgage File a certified copy of the Mortgage by the local authority with which
the Mortgage was recorded; or (c) the absence from the Mortgage File of the item
called for by paragraph (h) of the definition of Mortgage File. If any of the
foregoing Material Document Defects is discovered by the Custodian (or the
Trustee if there is no Custodian), the Trustee (or as set forth in Section
2.3(a) of the Pooling and Servicing Agreement, the Master Servicer) will take
the steps described elsewhere in this Section, including the giving of notices
to the Rating Agencies and the parties hereto and making demand upon the Seller
for the cure of the Material Document Defect or repurchase or replacement of the
related Mortgage Loan.

            The Seller shall be notified promptly and in writing by (i) the
Trustee of any notice that it receives that an Option Holder intends to exercise
its Option to purchase the Mortgage Loan in accordance with and as described in
Section 9.36 of the Pooling and Servicing Agreement and (ii) the Special
Servicer of any offer that it receives to purchase the applicable REO Property,
each in connection with such liquidation. Upon the receipt of such notice by the
Seller, the Seller shall then have the right to purchase the related Mortgage
Loan or REO Property, as applicable, from the Trust at a purchase price equal
to, in the case of clause (i) of the immediately preceding sentence, the Option
Purchase Price or, in the case of clause (ii) of the immediately preceding
sentence, the amount of such offer. Notwithstanding anything to the contrary
contained in this Agreement or in the Pooling and Servicing Agreement, the right
of any Option Holder to purchase such Mortgage Loan shall be subject and
subordinate to the Seller's right to purchase such Mortgage Loan as described in
the immediately preceding sentence. The Seller shall have five (5) Business Days
to notify the Trustee or Special Servicer, as applicable, of its intent to so
purchase the Mortgage Loan or related REO Property from the date that it was
notified of such intention to exercise such Option or of such offer. The Special
Servicer shall be obligated to provide the Seller with any appraisal or other
third party reports relating to the Mortgaged Property within its possession to
enable the Seller to evaluate the Mortgage Loan or REO Property. Any sale of the
Mortgage Loan, or foreclosure upon such Mortgage Loan and sale of the REO
Property, to a Person other than the Seller shall be without (i) recourse of any
kind (either express or implied) by such Person against the Seller and (ii)
representation or warranty of any kind (either express or implied) by the Seller
to or for the benefit of such Person.

            The obligations of the Seller set forth in this Section 5(b) to cure
a Material Document Defect or a Material Breach or repurchase or replace a
defective Mortgage Loan constitute the sole remedies of the Purchaser or its
assignees with respect to a Material Document Defect or Material Breach in
respect of an outstanding Mortgage Loan; provided, that this limitation shall
not in any way limit the Purchaser's rights or remedies upon breach of any other
representation or warranty or covenant by the Seller set forth in this Agreement
(other than those set forth in Exhibit 2).

            Notwithstanding the foregoing, in the event that there is a breach
of the representation and warranty set forth in paragraph 43 of Exhibit 2
attached hereto, and as a result the payments, by a Mortgagor, of reasonable
costs and expenses associated with the defeasance or assumption of a Mortgage
Loan are insufficient causing the Trust to incur any Additional Trust Expense,
the Seller hereby covenants and agrees to reimburse the Trust in an amount
sufficient to avoid such Additional Trust Expense. The parties hereto
acknowledge that such reimbursement shall be the Seller's sole obligation with
respect to the breach discussed in the previous sentence.

            (c) The Pooling and Servicing Agreement shall provide that the
Trustee (or the Master Servicer or the Special Servicer on its behalf) shall
give written notice within three Business Days to the Seller of its discovery of
any Material Document Defect or Material Breach and prompt written notice to the
Seller in the event that any Mortgage Loan becomes a Specially Serviced Mortgage
Loan (as defined in the Pooling and Servicing Agreement).

            (d) If the Seller repurchases any Mortgage Loan pursuant to this
Section 5, the Purchaser or its assignee, following receipt by the Trustee of
the Purchase Price therefor, promptly shall deliver or cause to be delivered to
the Seller all Mortgage Loan documents with respect to such Mortgage Loan, and
each document that constitutes a part of the Mortgage File that was endorsed or
assigned to the Trustee shall be endorsed and assigned to the Seller in the same
manner such that the Seller shall be vested with legal and beneficial title to
such Mortgage Loan, in each case without recourse, including any property
acquired in respect of such Mortgage Loan or proceeds of any insurance policies
with respect thereto.

            Section 6. Closing. The closing of the sale of the Mortgage Loans
shall be held at the offices of Cadwalader, Wickersham & Taft, 100 Maiden Lane,
New York, NY 10038 at 9:00 a.m., New York time, on the Closing Date.

            The closing shall be subject to each of the following conditions:

            (a) All of the representations and warranties of the Seller and the
Purchaser specified in Section 4 of this Agreement (including, without
limitation, the representations and warranties set forth on Exhibit 2 to this
Agreement) shall be true and correct as of the Closing Date (to the extent of
the standard, if any, set forth in each representation and warranty).

            (b) All Closing Documents specified in Section 7 of this Agreement,
in such forms as are agreed upon and reasonably acceptable to the Seller or the
Purchaser, as applicable, shall be duly executed and delivered by all
signatories as required pursuant to the respective terms thereof.

            (c) The Seller shall have delivered and released to the Purchaser or
its designee all documents required to be delivered to the Purchaser as of the
Closing Date pursuant to Section 2 of this Agreement.

            (d) The result of the examination and audit performed by the
Purchaser and its affiliates pursuant to Section 3 hereof shall be satisfactory
to the Purchaser and its affiliates in their sole determination and the parties
shall have agreed to the form and contents of the Seller's Information to be
disclosed in the Memorandum and the Prospectus Supplement.

            (e) All other terms and conditions of this Agreement required to be
complied with on or before the Closing Date shall have been complied with, and
the Seller and the Purchaser shall have the ability to comply with all terms and
conditions and perform all duties and obligations required to be complied with
or performed after the Closing Date.

            (f) The Seller shall have paid all fees and expenses payable by it
to the Purchaser pursuant to Section 8 hereof.

            (g) The Certificates to be so rated shall have been assigned ratings
by each Rating Agency no lower than the ratings specified for each such Class in
the Memorandum and the Prospectus Supplement.

            (h) No Underwriter shall have terminated the Underwriting Agreement
and the Initial Purchaser shall not have terminated the Certificate Purchase
Agreement, and neither the Underwriters nor the Initial Purchaser shall have
suspended, delayed or otherwise cancelled the Closing Date.

            (i) The Seller shall have received the purchase price for the
Mortgage Loans pursuant to Section 1 hereof.

            Each party agrees to use its best efforts to perform its respective
obligations hereunder in a manner that will enable the Purchaser to purchase the
Mortgage Loans on the Closing Date.

            Section 7. Closing Documents. The Closing Documents shall consist of
the following:

            (a) This Agreement duly executed by the Purchaser and the Seller.

            (b) A certificate of the Seller, executed by a duly authorized
officer of the Seller and dated the Closing Date, and upon which the Purchaser
and its successors and assigns may rely, to the effect that: (i) the
representations and warranties of the Seller in this Agreement are true and
correct in all material respects on and as of the Closing Date with the same
force and effect as if made on the Closing Date, provided that any
representations and warranties made as of a specified date shall be true and
correct as of such specified date; and (ii) the Seller has complied with all
agreements and satisfied all conditions on its part to be performed or satisfied
on or prior to the Closing Date.

            (c) True, complete and correct copies of the Seller's articles of
organization and by-laws.

            (d) A certificate of existence for the Seller from the Secretary of
State of Delaware dated not earlier than 30 days prior to the Closing Date.

            (e) A certificate of the Secretary or Assistant Secretary of the
Seller, dated the Closing Date, and upon which the Purchaser may rely, to the
effect that each individual who, as an officer or representative of the Seller,
signed this Agreement or any other document or certificate delivered on or
before the Closing Date in connection with the transactions contemplated herein,
was at the respective times of such signing and delivery, and is as of the
Closing Date, duly elected or appointed, qualified and acting as such officer or
representative, and the signatures of such persons appearing on such documents
and certificates are their genuine signatures.

            (f) An opinion of counsel (which, other than as to the opinion
described in paragraph (vi) below, may be in-house counsel) to the Seller, dated
the Closing Date, substantially to the effect of the following (with such
changes and modifications as the Purchaser may approve and subject to such
counsel's reasonable qualifications):

                  (i) The Seller is validly existing under Delaware law and has
            full corporate power and authority to enter into and perform its
            obligations under this Agreement.

                  (ii) This Agreement has been duly authorized, executed and
            delivered by the Seller.

                  (iii) No consent, approval, authorization or order of any
            federal court or governmental agency or body is required for the
            consummation by the Seller of the transactions contemplated by the
            terms of this Agreement except any approvals as have been obtained.

                  (iv) Neither the execution, delivery or performance of this
            Agreement by the Seller, nor the consummation by the Seller of any
            of the transactions contemplated by the terms of this Agreement (A)
            conflicts with or results in a breach or violation of, or
            constitutes a default under, the organizational documents of the
            Seller, (B) to the knowledge of such counsel, constitutes a default
            under any term or provision of any material agreement, contract,
            instrument or indenture, to which the Seller is a party or by which
            it or any of its assets is bound or results in the creation or
            imposition of any lien, charge or encumbrance upon any of its
            property pursuant to the terms of any such indenture, mortgage,
            contract or other instrument, other than pursuant to this Agreement,
            or (C) conflicts with or results in a breach or violation of any
            law, rule, regulation, order, judgment, writ, injunction or decree
            of any court or governmental authority having jurisdiction over the
            Seller or its assets, except where in any of the instances
            contemplated by clauses (B) or (C) above, any conflict, breach or
            default, or creation or imposition of any lien, charge or
            encumbrance, will not have a material adverse effect on the
            consummation of the transactions contemplated hereby by the Seller
            or materially and adversely affect its ability to perform its
            obligations and duties hereunder or result in any material adverse
            change in the business, operations, financial condition, properties
            or assets of the Seller, or in any material impairment of the right
            or ability of the Seller to carry on its business substantially as
            now conducted.

                  (v) To his or her knowledge, there are no legal or
            governmental actions, investigations or proceedings pending to which
            the Seller is a party, or threatened against the Seller, (a)
            asserting the invalidity of this Agreement or (b) which materially
            and adversely affect the performance by the Seller of its
            obligations under, or the validity or enforceability of, this
            Agreement.

            (vi) This Agreement is a valid, legal and binding agreement of the
      Seller, enforceable against the Seller in accordance with its terms,
      except as such enforcement may be limited by (1) laws relating to
      bankruptcy, insolvency, reorganization, receivership or moratorium, (2)
      other laws relating to or affecting the rights of creditors generally, (3)
      general equity principles (regardless of whether such enforcement is
      considered in a proceeding in equity or at law) or (4) public policy
      considerations underlying the securities laws, to the extent that such
      public policy considerations limit the enforceability of the provisions of
      this Agreement that purport to provide indemnification from liabilities
      under applicable securities laws.

            Such opinion may express its reliance as to factual matters on,
among other things specified in such opinion, the representations and warranties
made by, and on certificates or other documents furnished by officers of, the
parties to this Agreement.

            In rendering the opinions expressed above, such counsel may limit
such opinions to matters governed by the federal laws of the United States and
the corporate laws of the State of Delaware and the State of New York, as
applicable.

            (g) Such other opinions of counsel as any Rating Agency may request
in connection with the sale of the Mortgage Loans by the Seller to the Purchaser
or the Seller's execution and delivery of, or performance under, this Agreement.

            (h) A letter from Deloitte & Touche, certified public accountants,
dated the date hereof, to the effect that they have performed certain specified
procedures as a result of which they determined that certain information of an
accounting, financial or statistical nature set forth in the Memorandum and the
Prospectus Supplement agrees with the records of the Seller.

            (i) Such further certificates, opinions and documents as the
Purchaser may reasonably request.

            (j) An officer's certificate of the Purchaser, dated as of the
Closing Date, with the resolutions of the Purchaser authorizing the transactions
described herein attached thereto, together with certified copies of the
charter, by-laws and certificate of good standing of the Purchaser dated not
earlier than 30 days prior to the Closing Date.

            (k) Such other certificates of the Purchaser's officers or others
and such other documents to evidence fulfillment of the conditions set forth in
this Agreement as the Seller or its counsel may reasonably request.

            (l) An executed Bill of Sale in the form attached hereto as Exhibit
4.

            Section 8. Costs. The Seller shall pay the Purchaser the costs and
expenses as agreed upon by the Seller and the Purchaser in a separate Letter of
Understanding dated June 1, 2002.

            Section 9. Notices. All communications provided for or permitted
hereunder shall be in writing and shall be deemed to have been duly given if (a)
personally delivered, (b) mailed by registered or certified mail, postage
prepaid and received by the addressee, (c) sent by express courier delivery
service and received by the addressee, or (d) transmitted by telex or facsimile
transmission (or any other type of electronic transmission agreed upon by the
parties) and confirmed by a writing delivered by any of the means described in
(a), (b) or (c), if (i) to the Purchaser, addressed to Morgan Stanley Dean
Witter Capital I Inc., 1585 Broadway, New York, New York 10016, Attention:
Cecilia Tarrant, with a copy to Michelle Wilke (or such other address as may
hereafter be furnished in writing by the Purchaser), (ii) if to the Seller,
addressed to the Seller at 801 Grand Avenue, Des Moines, Iowa, 50392, Attention:
Daniel M. Schulte, President, with a copy to Terrence M. Tobin, Counsel or (iii)
if to the Additional Party, addressed to the Additional Party at 801 Grand
Avenue, Des Moines, Iowa, 50392, Attention: Daniel M. Schulte, President, with a
copy to Terrence M. Tobin, Counsel.

            Section 10. Severability of Provisions. Any part, provision,
representation, warranty or covenant of this Agreement that is prohibited or
that is held to be void or unenforceable shall be ineffective to the extent of
such prohibition or unenforceability without invalidating the remaining
provisions hereof. Any part, provision, representation, warranty or covenant of
this Agreement that is prohibited or unenforceable or is held to be void or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective
to the extent of such prohibition or unenforceability without invalidating the
remaining provisions hereof, and any such prohibition or unenforceability in any
jurisdiction shall not invalidate or render unenforceable such provision in any
other jurisdiction. To the extent permitted by applicable law, the parties
hereto waive any provision of law which prohibits or renders void or
unenforceable any provision hereof.

            Section 11. Further Assurances. The Seller and the Purchaser each
agree to execute and deliver such instruments and take such actions as the other
may, from time to time, reasonably request in order to effectuate the purpose
and to carry out the terms of this Agreement and the Pooling and Servicing
Agreement.

            Section 12. Survival. Each party hereto agrees that the
representations, warranties and agreements made by it herein and in any
certificate or other instrument delivered pursuant hereto shall be deemed to be
relied upon by the other party, notwithstanding any investigation heretofore or
hereafter made by the other party or on its behalf, and that the
representations, warranties and agreements made by such other party herein or in
any such certificate or other instrument shall survive the delivery of and
payment for the Mortgage Loans and shall continue in full force and effect,
notwithstanding any restrictive or qualified endorsement on the Mortgage Notes
and notwithstanding subsequent termination of this Agreement.

            SECTION 13. GOVERNING LAW. THIS AGREEMENT AND THE RIGHTS, DUTIES,
OBLIGATIONS AND RESPONSIBILITIES OF THE PARTIES HERETO SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS AND DECISIONS OF THE STATE OF NEW
YORK. THE PARTIES HERETO INTEND THAT THE PROVISIONS OF SECTION 5-1401 OF THE NEW
YORK GENERAL OBLIGATIONS LAW SHALL APPLY TO THIS AGREEMENT.

            Section 14. Benefits of Mortgage Loan Purchase Agreement. This
Agreement shall inure to the benefit of and shall be binding upon the Seller,
the Purchaser and their respective successors, legal representatives, and
permitted assigns, and nothing expressed or mentioned in this Agreement is
intended or shall be construed to give any other person any legal or equitable
right, remedy or claim under or in respect of this Agreement, or any provisions
herein contained, this Agreement and all conditions and provisions hereof being
intended to be and being for the sole and exclusive benefit of such persons and
for the benefit of no other person except that the rights and obligations of the
Purchaser pursuant to Sections 2, 4(a) (other than clause (vii)), 5, 11 and 12
hereof may be assigned to the Trustee as may be required to effect the purposes
of the Pooling and Servicing Agreement and, upon such assignment, the Trustee
shall succeed to the rights and obligations hereunder of the Purchaser. No owner
of a Certificate issued pursuant to the Pooling and Servicing Agreement shall be
deemed a successor or permitted assigns because of such ownership.

            Section 15. Obligations of the Additional Party. The Additional
Party hereby agrees, in consideration of and as an inducement to the Purchaser's
purchase of the Mortgage Loans from the Seller, that the Additional Party shall
be liable to the Purchaser to the same extent as the Seller as set forth herein,
for all the obligations of the Seller under Section 5 hereof. The Additional
Party further agrees that the Purchaser shall not be bound or obligated in
anyway to exhaust recourse against the Seller before being entitled to demand
the performance by the Additional Party of its obligations hereunder; provided,
however, that the Additional Party shall have the same rights and defenses
available to the Seller hereunder. The Additional Party's obligations hereunder
shall not be affected by any events, occurrences or circumstances which might
otherwise constitute a legal or equitable discharge or defense of a guarantor or
surety. Notwithstanding anything to the contrary contained herein, the
performance by the Additional Party of any of the Seller's obligations hereunder
shall be deemed to be performance thereof by the Seller and the Purchaser agrees
to accept such performance.

            Section 16. Miscellaneous. This Agreement may be executed in two or
more counterparts, each of which when so executed and delivered shall be an
original, but all of which together shall constitute one and the same
instrument. Neither this Agreement nor any term hereof may be changed, waived,
discharged or terminated orally, but only by an instrument in writing signed by
the party against whom enforcement of the change, waiver, discharge or
termination is sought. The headings in this Agreement are for purposes of
reference only and shall not limit or otherwise affect the meaning hereof. The
rights and obligations of the Seller under this Agreement shall not be assigned
by the Seller without the prior written consent of the Purchaser, except that
any person into which the Seller may be merged or consolidated, or any
corporation resulting from any merger, conversion or consolidation to which the
Seller is a party, or any person succeeding to the entire business of the Seller
shall be the successor to the Seller hereunder.

            Section 17. Entire Agreement. This Agreement contains the entire
agreement and understanding between the parties hereto with respect to the
subject matter hereof (other than the Letter of Understanding, the
Indemnification Agreement and the Pooling and Servicing Agreement), and
supersedes all prior and contemporaneous agreements, understandings, inducements
and conditions, express or implied, oral or written, of any nature whatsoever
with respect to the subject matter hereof. The express terms hereof control and
supersede any course of performance or usage of the trade inconsistent with any
of the terms hereof.

<PAGE>

            IN WITNESS WHEREOF, Seller and Purchaser have caused their names to
be signed by their respective duly authorized officers as of the date first
above written.

                                        SELLER

                                        PRINCIPAL SILVER, LLC, a Delaware
                                        limited liability company

                                        By: PRINCIPAL ENTERPRISE CAPITAL I, LLC,
                                            a Delaware limited liability
                                            company, a member

                                            By: PRINCIPAL ENTERPRISE CAPITAL,
                                                LLC, a Delaware limited
                                                liability company, its Manager

                                                By: ____________________________
                                                    Name:
                                                    Title:

                                                By: ____________________________
                                                    Name:
                                                    Title:

ACCEPTED AND AGREED FOR
purposes of Section 5(b) hereof
PRINCIPAL ENTERPRISE CAPITAL I, LLC,
a Delaware limited liability company

PRINCIPAL ENTERPRISE CAPITAL I, LLC,
a Delaware limited liability company

By: PRINCIPAL ENTERPRISE CAPITAL, LLC,
    a Delaware limited liability
    company, its Manager

By: ____________________________
    Name:
    Title:

By: ____________________________
    Name:
    Title:

                                        MORGAN STANLEY DEAN WITTER
                                            CAPITAL I INC.

                                        By:_____________________________________
                                           Name:
                                           Title:

<PAGE>
                                    EXHIBIT 1

                             MORTGAGE LOAN SCHEDULE
MSDWCI 2002-IQ2
PS

<TABLE>
<CAPTION>
LOAN POOL         MORTGAGE LOAN
NO                SELLER            PROPERTY NAME                                         CITY                  STATE     ZIP CODE
---------         -------------     -------------                                         ----                  -----     --------
<S>               <C>               <C>                                                   <C>                   <C>        <C>
33                PS                Four Points Business Park                             Kearny Mesa           CA         92123
34                PS                854 Golf Lane                                         Bensenville           IL         60106
36                PS                Mackenzie Pointe                                      Shrewsbury            MO         63119
38                PS                Loehmann's Plaza                                      Bellevue              WA         98004
39                PS                Lake City Center                                      Seattle               WA         98125
42                PS                Woodman Valley Shopping Center                        Colorado Springs      CO         80918
50                PS                The Maggitti Building                                 King of Prussia       PA         19482
51                PS                300 Hansen Access Road                                King of Prussia       PA         19406
52                PS                The Maggitti Building                                 King of Prussia       PA         19482
53                PS                300 Hansen Access Road                                King of Prussia       PA         19406
60                PS                Bechtel Office Building                               Englewood             CO         80110
61                PS                Morristown Plaza                                      Morristown            NJ         07960
69                PS                Lakewood II                                           Smyrna                GA         30080
79                PS                Foxborough Business Center                            Foxborough            MA         02035
80                PS                Milliken Airport Center                               Ontario               CA         91761
81                PS                333 West 45th Street                                  Munster               IN         46321
82                PS                2120-2124 Barrett Park Dr.                            Kennesaw              GA         30144
83                PS                1701 Oakbrook Drive                                   Norcross              GA         30093
84                PS                4187-4199 Pleasantdale Rd                             Doralville            GA         30340
85                PS                205 Chubb Avenue                                      Lyndhurst             NJ         07071
86                PS                Powder Springs Valley Shopping Center                 Marietta              GA         30060
90                PS                16750 Vincennes Avenue                                South Holland         IL         60473
91                PS                10420 Bubb Road                                       Cupertino             CA         95014
92                PS                Menlo Business Park                                   San Jose              CA         95131
93                PS                MarkWest Office Building                              Englewood             CO         80110
95                PS                Maitland Professional Office Building II              Maitland              FL         32751
96                PS                Park Ave Safeway Retail Center                        Denver                CO         80202
103               PS                300 Chubb Avenue                                      Lyndhurst             NJ         07071
106               PS                Winn Dixie Shopping Center                            Jacksonville          FL         32208
110               PS                Rock Creek Apartments                                 Spokane               WA         99208
114               PS                Gwinnet 316 Phase I                                   Lawrenceville         GA         30245
115               PS                Roseville Business Commons                            Roseville             MN         55113
116               PS                Lightolier Building                                   Edison                NJ         08817
119               PS                Gwinnett 316 Office Park                              Lawrenceville         GA         30245
120               PS                Gunderson Detmer                                      Menlo Park            CA         94025
126               PS                Federal Express Building                              Littleton             CO         80121

<CAPTION>
LOAN POOL                                                                                 SUB-SERVICING
NO                ORIGINAL BALANCE      CURRENT BALANCE    MASTER FEE     PRIMARY FEE               FEE
---------         ----------------      ---------------    ----------     -----------     -------------
<S>                    <C>                  <C>                  <C>            <C>                <C>
33                     $16,250,000          $16,250,000          5.00           10.50              0.00
34                     $15,200,000          $14,788,969          5.00           10.50              0.00
36                     $14,250,000          $14,064,426          5.00           10.50              0.00
38                     $13,500,000          $10,693,773          5.00           10.50              0.00
39                      $3,500,000           $2,772,450          5.00           10.50              0.00
42                      $9,800,000           $9,669,554          5.00           10.50              0.00
50                      $5,937,500           $4,745,711          5.00           10.50              0.00
51                      $3,562,500           $2,847,426          5.00           10.50              0.00
52                        $468,750             $263,104          5.00           10.50              0.00
53                        $281,250             $157,863          5.00           10.50              0.00
60                      $7,000,000           $6,744,224          5.00           10.50              0.00
61                      $7,300,000           $6,412,981          5.00           10.50              0.00
69                      $7,000,000           $5,479,151          5.00           10.50              0.00
79                      $4,550,000           $4,401,131          5.00           10.50              0.00
80                      $4,850,000           $4,373,906          5.00           10.50              0.00
81                      $4,500,000           $4,325,990          5.00           10.50              0.00
82                      $3,608,283           $2,773,298          5.00           10.50              0.00
83                      $1,036,784             $796,864          5.00           10.50              0.00
84                        $954,933             $733,954          5.00           10.50              0.00
85                      $4,800,000           $4,237,798          5.00           10.50              0.00
86                      $4,400,000           $4,222,259          5.00           10.50              0.00
90                      $4,200,000           $4,054,251          5.00           10.50              0.00
91                      $4,100,000           $3,989,082          5.00           10.50              0.00
92                      $4,500,000           $3,875,743          5.00           10.50              0.00
93                      $3,975,000           $3,854,024          5.00           10.50              0.00
95                      $3,750,000           $3,652,221          5.00           10.50              0.00
96                      $4,400,000           $3,484,260          5.00           10.50              0.00
103                     $3,500,000           $3,096,781          5.00           10.50              0.00
106                     $3,300,000           $2,916,463          5.00           10.50              0.00
110                     $3,200,000           $2,756,008          5.00           10.50              0.00
114                     $3,000,000           $2,516,462          5.00           10.50              0.00
115                     $3,250,000           $2,512,685          5.00           10.50              0.00
116                     $3,000,000           $2,511,461          5.00           10.50              0.00
119                     $2,148,000           $1,764,174          5.00           10.50              0.00
120                     $2,200,000           $1,636,477          5.00           10.50              0.00
126                     $1,000,000             $551,863          5.00           10.50              0.00
</TABLE>

<PAGE>

                                    EXHIBIT 2

                    REPRESENTATIONS AND WARRANTIES REGARDING
                            INDIVIDUAL MORTGAGE LOANS

            1. Mortgage Loan Schedule. The information set forth in the Mortgage
Loan Schedule is complete, true and correct in all material respects as of the
date of this Agreement and as of the Cut-Off Date.

            2. Whole Loan; Ownership of Mortgage Loans. Each Mortgage Loan is a
whole loan and not a participation interest in a mortgage loan. Immediately
prior to the transfer to the Purchaser of the Mortgage Loans, the Seller had
good title to, and was the sole owner of, each Mortgage Loan. The Seller has
full right, power and authority to transfer and assign each of the Mortgage
Loans to or at the direction of the Purchaser and has validly and effectively
conveyed (or caused to be conveyed) to the Purchaser or its designee all of the
Seller's legal and beneficial interest in and to the Mortgage Loans free and
clear of any and all pledges, liens, charges, security interests and/or other
encumbrances. The sale of the Mortgage Loans to the Purchaser or its designee
does not require the Seller to obtain any governmental or regulatory approval or
consent that has not been obtained.

            3. Payment Record. No scheduled payment of principal and interest
under any Mortgage Loan was 30 days or more past due as of the Cut-Off Date, and
no Mortgage Loan was 30 days or more delinquent in the twelve-month period
immediately preceding the Cut-Off Date.

            4. Lien; Valid Assignment. The Mortgage related to and delivered in
connection with each Mortgage Loan constitutes a valid and, subject to the
exceptions set forth in paragraph 13 below, enforceable first priority lien upon
the related Mortgaged Property, prior to all other liens and encumbrances,
except for (a) the lien for current real estate taxes and assessments not yet
due and payable, (b) covenants, conditions and restrictions, rights of way,
easements and other matters that are of public record and/or are referred to in
the related lender's title insurance policy, (c) exceptions and exclusions
specifically referred to in such lender's title insurance policy, (d) other
matters to which like properties are commonly subject, none of which matters
referred to in clauses (b), (c) or (d), individually or in the aggregate,
materially interferes with the security intended to be provided by such
Mortgage, the marketability or current use of the Mortgaged Property or the
current ability of the Mortgaged Property to generate operating income
sufficient to service the Mortgage Loan debt and (e) if such Mortgage Loan is
cross-collateralized with any other Mortgage Loan, the lien of the Mortgage for
such other Mortgage Loan (the foregoing items (a) through (e) being herein
referred to as the "Permitted Encumbrances"). The related assignment of such
Mortgage executed and delivered in favor of the Trustee is in recordable form
and constitutes a legal, valid and binding assignment, sufficient to convey to
the assignee named therein all of the assignor's right, title and interest in,
to and under such Mortgage. Such Mortgage, together with any separate security
agreements, chattel mortgages or equivalent instruments, establishes and creates
a valid and, subject to the exceptions set forth in paragraph 13 below,
enforceable security interest in favor of the holder thereof in all of the
related Mortgagor's personal property used in, and reasonably necessary to
operate, the related Mortgaged Property. In the case of a Mortgaged Property
operated as a hotel or an assisted living facility, the Mortgagor's personal
property includes all personal property that a prudent mortgage lender making a
similar Mortgage Loan would deem reasonably necessary to operate the related
Mortgaged Property as it is currently being operated. A Uniform Commercial Code
financing statement has been filed and/or recorded in all places necessary to
perfect a valid security interest in such personal property, to the extent a
security interest may be so created therein, and such security interest is a
first priority security interest, subject to any prior purchase money security
interest in such personal property and any personal property leases applicable
to such personal property. Notwithstanding the foregoing, no representation is
made as to the perfection of any security interest in rents or other personal
property to the extent that possession or control of such items or actions other
than the filing of Uniform Commercial Code financing statements are required in
order to effect such perfection.

            5. Assignment of Leases and Rents. The Assignment of Leases related
to and delivered in connection with each Mortgage Loan establishes and creates a
valid, subsisting and, subject to the exceptions set forth in paragraph 13
below, enforceable first priority lien and first priority security interest in
the related Mortgagor's interest in all leases, sub-leases, licenses or other
agreements pursuant to which any person is entitled to occupy, use or possess
all or any portion of the real property subject to the related Mortgage, and
each assignor thereunder has the full right to assign the same. The related
assignment of any Assignment of Leases not included in a Mortgage has been
executed and delivered in favor of the Trustee and is in recordable form and
constitutes a legal, valid and binding assignment, sufficient to convey to the
assignee named therein all of the assignor's right, title and interest in, to
and under such Assignment of Leases.

            6. Mortgage Status; Waivers and Modifications. No Mortgage has been
satisfied, cancelled, rescinded or subordinated in whole or in part, and the
related Mortgaged Property has not been released from the lien of such Mortgage,
in whole or in part (except for partial reconveyances of real property that are
set forth on Schedule A to Exhibit 2), nor has any instrument been executed that
would effect any such satisfaction, cancellation, subordination, rescission or
release, in any manner that, in each case, materially adversely affects the
value of the related Mortgaged Property. None of the terms of any Mortgage Note,
Mortgage or Assignment of Leases has been impaired, waived, altered or modified
in any respect, except by written instruments, all of which are included in the
related Mortgage File.

            7. Condition of Property; Condemnation. (i) With respect to the
Mortgaged Properties securing the Mortgage Loans that were the subject of an
engineering report within 18 months prior to the Cut-Off Date as set forth on
Schedule A to this Exhibit 2, each Mortgaged Property is, to the Seller's
knowledge, free and clear of any damage (or adequate reserves therefor have been
established) that would materially and adversely affect its value as security
for the related Mortgage Loan, and (ii) with respect to the Mortgaged Properties
securing the Mortgage Loans that were not the subject of an engineering report
within 18 months prior to the Cut-Off Date as set forth on Schedule A to this
Exhibit 2, each Mortgaged Property is in good repair and condition and all
building systems contained therein are in good working order (or adequate
reserves therefor have been established) and each Mortgaged Property is free of
structural defects, in each case, that would materially and adversely affect its
value as security for the related Mortgage Loan as of the date hereof. The
Seller has received no notice of the commencement of any proceeding for the
condemnation of all or any material portion of any Mortgaged Property. To the
Seller's knowledge (based on surveys and/or title insurance obtained in
connection with the origination of the Mortgage Loans), as of the date of the
origination of each Mortgage Loan, all of the material improvements on the
related Mortgaged Property that were considered in determining the appraised
value of the Mortgaged Property lay wholly within the boundaries and building
restriction lines of such property, except for encroachments that are insured
against by the lender's title insurance policy referred to herein or that do not
materially and adversely affect the value or marketability of such Mortgaged
Property, and no improvements on adjoining properties materially encroached upon
such Mortgaged Property so as to materially and adversely affect the value or
marketability of such Mortgaged Property, except those encroachments that are
insured against by the Title Policy referred to herein.

            8. Title Insurance. Each Mortgaged Property is covered by an
American Land Title Association (or an equivalent form of) lender's title
insurance policy or a marked-up title insurance commitment (on which the
required premium has been paid) which evidences such title insurance policy (the
"Title Policy") in the original principal amount of the related Mortgage Loan
after all advances of principal. Each Title Policy insures that the related
Mortgage is a valid first priority lien on such Mortgaged Property, subject only
to Permitted Encumbrances. Each Title Policy (or, if it has yet to be issued,
the coverage to be provided thereby) is in full force and effect, all premiums
thereon have been paid and no material claims have been made thereunder and no
claims have been paid thereunder. No holder of the related Mortgage has done, by
act or omission, anything that would materially impair the coverage under such
Title Policy. Immediately following the transfer and assignment of the related
Mortgage Loan to the Trustee, such Title Policy (or, if it has yet to be issued,
the coverage to be provided thereby) will inure to the benefit of the Trustee
without the consent of or notice to the insurer. To the Seller's knowledge, the
insurer issuing such Title Policy is qualified to do business in the
jurisdiction in which the related Mortgaged Property is located.

            9. No Holdbacks. The proceeds of each Mortgage Loan have been fully
disbursed and there is no obligation for future advances with respect thereto.
With respect to each Mortgage Loan, any and all requirements as to completion of
any on-site or off-site improvement and as to disbursements of any funds
escrowed for such purpose that were to have been complied with on or before the
Closing Date have been complied with, or any such funds so escrowed have not
been released.

            10. Mortgage Provisions. The Mortgage Note or Mortgage for each
Mortgage Loan, together with applicable state law, contains customary and
enforceable provisions (subject to the exceptions set forth in paragraph 13)
such as to render the rights and remedies of the holder thereof adequate for the
practical realization against the related Mortgaged Property of the principal
benefits of the security intended to be provided thereby.

            11. Trustee under Deed of Trust. If any Mortgage is a deed of trust,
(1) a trustee, duly qualified under applicable law to serve as such, is properly
designated and serving under such Mortgage, and (2) no fees or expenses are
payable to such trustee by the Seller, the Purchaser or any transferee thereof
except in connection with a trustee's sale after default by the related
Mortgagor or in connection with any full or partial release of the related
Mortgaged Property or related security for the related Mortgage Loan.

            12. Environmental Conditions.

            (i) With respect to the Mortgaged Properties securing the Mortgage
      Loans that were the subject of an environmental site assessment within 18
      months prior to the Cut-Off Date as set forth on Schedule A to this
      Exhibit 2, an environmental site assessment, or an update of a previous
      such report, was performed with respect to each Mortgaged Property in
      connection with the origination or the sale of the related Mortgage Loan,
      a report of each such assessment (or the most recent assessment with
      respect to each Mortgaged Property) (an "Environmental Report") has been
      delivered to the Purchaser, and the Seller has no knowledge of any
      material and adverse environmental condition or circumstance affecting any
      Mortgaged Property that was not disclosed in such report. Each Mortgage
      requires the related Mortgagor to comply with all applicable federal,
      state and local environmental laws and regulations. Where such assessment
      disclosed the existence of a material and adverse environmental condition
      or circumstance affecting any Mortgaged Property, (i) a party not related
      to the Mortgagor was identified as the responsible party for such
      condition or circumstance or (ii) environmental insurance covering such
      condition was obtained or must be maintained until the condition is
      remediated or (iii) the related Mortgagor was required either to provide
      additional security that was deemed to be sufficient by the originator in
      light of the circumstances and/or to establish an operations and
      maintenance plan. In the case of each Mortgage Loan set forth on Schedule
      A to this Exhibit 2, (i) such Mortgage Loan is the subject of a Secured
      Creditor Impaired Property Policy, issued by the issuer set forth on
      Schedule A (the "Policy Issuer") and effective as of the date thereof (the
      "Environmental Insurance Policy"), (ii) the Environmental Insurance Policy
      is in full force and effect, (iii)(a) a property condition or engineering
      report was prepared with respect to lead based paint ("LBP"), asbestos
      containing materials ("ACM") and radon gas ("RG") at each related
      Mortgaged Property and (b) if such report disclosed the existence of a
      material and adverse LBP, ACM or RG environmental condition or
      circumstance affecting the related Mortgaged Property, the related
      Mortgagor (A) was required to remediate the identified condition prior to
      closing the Mortgage Loan or provide additional security, or establish
      with the lender a reserve from loan proceeds, in an amount deemed to be
      sufficient by the Seller for the remediation of the problem and/or (B)
      agreed in the Mortgage Loan documents to establish an operations and
      maintenance plan after the closing of the Mortgage Loan, (iv) on the
      effective date of the Environmental Insurance Policy, Seller as originator
      had no knowledge of any material and adverse environmental condition or
      circumstance affecting the Mortgaged Property (other than the existence of
      LBP, ACM or RG) that was not disclosed to the Policy Issuer in one or more
      of the following: (a) the application for insurance, (b) a borrower
      questionnaire that was provided to the Policy Issuer or (c) an engineering
      or other report provided to the Policy Issuer and (v) the premium of any
      Environmental Insurance Policy has been paid through the maturity of the
      policy's term and the term of such policy extends at least five years
      beyond the maturity of the Mortgage Loan.

            (ii) With respect to the Mortgaged Properties securing the Mortgage
      Loans that were not the subject of an environmental site assessment within
      18 months prior to the Cut-Off Date as set forth on Schedule A to this
      Exhibit 2, (i) no Hazardous Material is present on such Mortgaged Property
      such that (1) the value of such Mortgaged Property is materially and
      adversely affected or (2) under applicable federal, state or local law,
      (a) such Hazardous Material could be required to be eliminated at a cost
      materially and adversely affecting the value of the Mortgaged Property
      before such Mortgaged Property could be altered, renovated, demolished or
      transferred or (b) the presence of such Hazardous Material could (upon
      action by the appropriate governmental authorities) subject the owner of
      such Mortgaged Property, or the holders of a security interest therein, to
      liability for the cost of eliminating such Hazardous Material or the
      hazard created thereby at a cost materially and adversely affecting the
      value of the Mortgaged Property, and (ii) such Mortgaged Property is in
      material compliance with all applicable federal, state and local laws
      pertaining to Hazardous Materials or environmental hazards, any
      noncompliance with such laws does not have a material adverse effect on
      the value of such Mortgaged Property and neither Seller nor, to Seller's
      knowledge, the related Mortgagor or any current tenant thereon, has
      received any notice of violation or potential violation of any such law.

      "Hazardous Materials" means gasoline, petroleum products, explosives,
      radioactive materials, polychlorinated biphenyls or related or similar
      materials, and any other substance or material as may be defined as a
      hazardous or toxic substance by any federal, state or local environmental
      law, ordinance, rule, regulation or order, including without limitation,
      the Comprehensive Environmental Response, Compensation and Liability Act
      of 1980, as amended (42 U.S.C.ss.ss.9601 et seq.), the Hazardous Materials
      Transportation Act as amended (42 U.S.C.ss.ss.6901 et seq.), the Federal
      Water Pollution Control Act as amended (33 U.S.C.ss.ss.1251 et seq.), the
      Clean Air Act (42 U.S.C.ss.sS. 1251 et seq.) and any regulations
      promulgated pursuant thereto.

            13. Loan Document Status. Each Mortgage Note, Mortgage and other
agreement that evidences or secures such Mortgage Loan and was executed by or on
behalf of the related Mortgagor is the legal, valid and binding obligation of
the maker thereof (subject to any non-recourse provisions contained in any of
the foregoing agreements and any applicable state anti-deficiency or market
value limit deficiency legislation), enforceable in accordance with its terms,
except as such enforcement may be limited by bankruptcy, insolvency,
reorganization or other similar laws affecting the enforcement of creditors'
rights generally, and by general principles of equity (regardless of whether
such enforcement is considered in a proceeding in equity or at law) and there is
no valid defense, counterclaim or right of offset or rescission available to the
related Mortgagor with respect to such Mortgage Note, Mortgage or other
agreement.

            14. Insurance. Each Mortgaged Property is, and is required pursuant
to the related Mortgage to be, insured by (a) a fire and extended perils
insurance policy providing coverage against loss or damage sustained by reason
of fire, lightning, windstorm, hail, explosion, riot, riot attending a strike,
civil commotion, aircraft, vehicles and smoke, and, to the extent required as of
the date of origination by the originator of such Mortgage Loan consistent with
its normal commercial mortgage lending practices, against other risks insured
against by persons operating like properties in the locality of the Mortgaged
Property so-called "All Risk" coverage in an amount not less than the lesser of
the principal balance of the related Mortgage Loan and the replacement cost of
the Mortgaged Property, and contains no provisions for a deduction for
depreciation, and not less than the amount necessary to avoid the operation of
any co-insurance provisions with respect to the Mortgaged Property; (b) a
business interruption or rental loss insurance policy, in an amount at least
equal to six months of operations of the Mortgaged Property; (c) a flood
insurance policy (if any portion of buildings or other structures on the
Mortgaged Property are located in an area identified by the Federal Emergency
Management Agency as having special flood hazards and the Federal Emergency
Management Agency requires flood insurance to be maintained); and (d) a
comprehensive general liability insurance policy in amounts as are generally
required by commercial mortgage lenders, and in any event not less than $1
million per occurrence. Such insurance policy contains a standard mortgagee
clause that names the mortgagee as an additional insured in the case of
liability insurance policies and as a loss payee in the case of property
insurance policies and requires prior notice to the holder of the Mortgage of
termination or cancellation. No such notice has been received, including any
notice of nonpayment of premiums, that has not been cured. Each Mortgage
obligates the related Mortgagor to maintain all such insurance and, upon such
Mortgagor's failure to do so, authorizes the holder of the Mortgage to maintain
such insurance at the Mortgagor's cost and expense and to seek reimbursement
therefor from such Mortgagor. Each Mortgage provides that casualty insurance
proceeds will be applied (a) to the restoration or repair of the related
Mortgaged Property, (b) to the restoration or repair of the related Mortgaged
Property, with any excess insurance proceeds after restoration or repair being
paid to the Mortgagor, or (c) to the reduction of the principal amount of the
Mortgage Loan.

            15. Taxes and Assessments. As of the Closing Date, there are no
delinquent or unpaid taxes, assessments (including assessments payable in future
installments) or other outstanding charges affecting any Mortgaged Property that
are or may become a lien of priority equal to or higher than the lien of the
related Mortgage. For purposes of this representation and warranty, real
property taxes and assessments shall not be considered unpaid until the date on
which interest or penalties would be first payable thereon.

            16. Mortgagor Bankruptcy. No Mortgagor is, to the Seller's
knowledge, a debtor in any state or federal bankruptcy or insolvency proceeding.

            17. Leasehold Estate. Each Mortgaged Property consists of a fee
simple estate in real estate or, if the related Mortgage Loan is secured in
whole or in part by the interest of a Mortgagor as a lessee under a ground lease
of a Mortgaged Property (a "Ground Lease"), by the related Mortgagor's interest
in the Ground Lease but not by the related fee interest in such Mortgaged
Property (the "Fee Interest"), and as to such Ground Leases:

            (i) Such Ground Lease or a memorandum thereof has been or will be
      duly recorded; such Ground Lease (or the related estoppel letter or lender
      protection agreement between the Seller and related lessor) does not
      prohibit the current use of the Mortgaged Property and does not prohibit
      the interest of the lessee thereunder to be encumbered by the related
      Mortgage; and there has been no material change in the payment terms of
      such Ground Lease since the origination of the related Mortgage Loan, with
      the exception of material changes reflected in written instruments that
      are a part of the related Mortgage File;

            (ii) The lessee's interest in such Ground Lease is not subject to
      any liens or encumbrances superior to, or of equal priority with, the
      related Mortgage, other than Permitted Encumbrances;

            (iii) The Mortgagor's interest in such Ground Lease is assignable to
      the Purchaser and its successors and assigns upon notice to, but without
      the consent of, the lessor thereunder (or, if such consent is required, it
      has been obtained prior to the Closing Date) and, in the event that it is
      so assigned, is further assignable by the Purchaser and its successors and
      assigns upon notice to, but without the need to obtain the consent of,
      such lessor or if such lessor's consent is required it cannot be
      unreasonably withheld;

            (iv) Such Ground Lease is in full force and effect, and the Ground
      Lease provides that no material amendment to such Ground Lease is binding
      on a mortgagee unless the mortgagee has consented thereto, and the Seller
      has received no notice that an event of default has occurred thereunder,
      and, to the Seller's knowledge, there exists no condition that, but for
      the passage of time or the giving of notice, or both, would result in an
      event of default under the terms of such Ground Lease;

            (v) Such Ground Lease, or an estoppel letter or other agreement, (A)
      requires the lessor under such Ground Lease to give notice of any default
      by the lessee to the holder of the Mortgage; and (B) provides that no
      notice of termination given under such Ground Lease is effective against
      the holder of the Mortgage unless a copy of such notice has been delivered
      to such holder and the lessor has offered or is required to enter into a
      new lease with such holder on terms that do not materially vary from the
      economic terms of the Ground Lease.

            (vi) A mortgagee is permitted a reasonable opportunity (including,
      where necessary, sufficient time to gain possession of the interest of the
      lessee under such Ground Lease) to cure any default under such Ground
      Lease, which is curable after the receipt of notice of any such default,
      before the lessor thereunder may terminate such Ground Lease;

            (vii) Such Ground Lease has an original term (including any
      extension options set forth therein) which extends not less than twenty
      years beyond the Stated Maturity Date of the related Mortgage Loan;

            (viii) Under the terms of such Ground Lease and the related
      Mortgage, taken together, any related insurance proceeds or condemnation
      award awarded to the holder of the ground lease interest will be applied
      either (A) to the repair or restoration of all or part of the related
      Mortgaged Property, with the mortgagee or a trustee appointed by the
      related Mortgage having the right to hold and disburse such proceeds as
      the repair or restoration progresses (except in such cases where a
      provision entitling a third party to hold and disburse such proceeds would
      not be viewed as commercially unreasonable by a prudent commercial
      mortgage lender), or (B) to the payment of the outstanding principal
      balance of the Mortgage Loan together with any accrued interest thereon;
      and

            (ix) Such Ground Lease does not impose any restrictions on
      subletting which would be viewed as commercially unreasonable by prudent
      commercial mortgage lenders lending on a similar Mortgaged Property in the
      lending area where the Mortgaged Property is located; and such Ground
      Lease contains a covenant that the lessor thereunder is not permitted, in
      the absence of an uncured default, to disturb the possession, interest or
      quiet enjoyment of the lessee thereunder for any reason, or in any manner,
      which would materially adversely affect the security provided by the
      related Mortgage.

            (x) Such Ground Lease requires the Lessor to enter into a new lease
      upon termination of such Ground Lease if the Ground Lease is rejected in a
      bankruptcy proceeding.

            18. Escrow Deposits. All escrow deposits and payments relating to
each Mortgage Loan that are, as of the Closing Date, required to be deposited or
paid have been so deposited or paid.

            19. LTV Ratio. The gross proceeds of each Mortgage Loan to the
related Mortgagor at origination did not exceed the non-contingent principal
amount of the Mortgage Loan and either: (a) such Mortgage Loan is secured by an
interest in real property having a fair market value (i) at the date the
Mortgage Loan was originated, at least equal to 80 percent of the original
principal balance of the Mortgage Loan or (ii) at the Closing Date, at least
equal to 80 percent of the principal balance of the Mortgage Loan on such date;
provided that for purposes hereof, the fair market value of the real property
interest must first be reduced by (x) the amount of any lien on the real
property interest that is senior to the Mortgage Loan and (y) a proportionate
amount of any lien that is in parity with the Mortgage Loan (unless such other
lien secures a Mortgage Loan that is cross-collateralized with such Mortgage
Loan, in which event the computation described in clauses (a)(i) and (a)(ii) of
this paragraph 19 shall be made on a pro rata basis in accordance with the fair
market values of the Mortgaged Properties securing such cross-collateralized
Mortgage Loans); or (b) substantially all the proceeds of such Mortgage Loan
were used to acquire, improve or protect the real property that served as the
only security for such Mortgage Loan (other than a recourse feature or other
third party credit enhancement within the meaning of Treasury Regulations
Section 1.860G-2(a)(1)(ii)).

            20. Mortgage Loan Modifications. Any Mortgage Loan that was
"significantly modified" prior to the Closing Date so as to result in a taxable
exchange under Section 1001 of the Code either (a) was modified as a result of
the default under such Mortgage Loan or under circumstances that made a default
reasonably foreseeable or (b) satisfies the provisions of either clause (a)(i)
of paragraph 19 (substituting the date of the last such modification for the
date the Mortgage Loan was originated) or clause (a)(ii) of paragraph 19,
including the proviso thereto.

            21. Advancement of Funds by the Seller. No holder of a Mortgage Loan
has advanced funds or induced, solicited or knowingly received any advance of
funds from a party other than the owner of the related Mortgaged Property,
directly or indirectly, for the payment of any amount required by such Mortgage
Loan.

            22. No Mechanics' Liens. Each Mortgaged Property is free and clear
of any and all mechanics' and materialmen's liens that are prior or equal to the
lien of the related Mortgage, and no rights are outstanding that under law could
give rise to any such lien that would be prior or equal to the lien of the
related Mortgage except, in each case, for liens insured against by the Title
Policy referred to herein.

            23. Compliance with Usury Laws. Each Mortgage Loan complied with all
applicable usury laws in effect at its date of origination.

            24. Cross-collateralization. No Mortgage Loan is
cross-collateralized or cross-defaulted with any loan other than one or more
other Mortgage Loans.

            25. Releases of Mortgaged Property. Except as described in the next
sentence, no Mortgage Note or Mortgage requires the mortgagee to release all or
any material portion of the related Mortgaged Property that was included in the
appraisal for such Mortgaged Property, and/or generates income from the lien of
the related Mortgage except upon payment in full of all amounts due under the
related Mortgage Loan or in connection with the defeasance provisions of the
related Note and Mortgage. The Mortgages relating to those Mortgage Loans
identified on Schedule A hereto require the mortgagee to grant releases of
portions of the related Mortgaged Properties upon (a) the satisfaction of
certain legal and underwriting requirements and/or (b) the payment of a release
price and prepayment consideration in connection therewith. Except as described
in the first sentence hereof and for those Mortgage Loans identified on Schedule
A, no Mortgage Loan permits the full or partial release or substitution of
collateral unless the mortgagee or servicer can require the Mortgagor to provide
an opinion of tax counsel to the effect that such release or substitution of
collateral (a) would not constitute a "significant modification" of such
Mortgage Loan within the meaning of Treas. Reg. ss.1.1001-3 and (b) would not
cause such Mortgage LoaN to fail to be a "qualified mortgage" within the meaning
of Section 860G(a)(3)(A) of the Code.

            26. No Equity Participation or Contingent Interest. No Mortgage Loan
contains any equity participation by the lender or provides for negative
amortization (except that the ARD Loan may provide for the accrual of interest
at an increased rate after the Anticipated Repayment Date) or for any contingent
or additional interest in the form of participation in the cash flow of the
related Mortgaged Property.

            27. No Material Default. To the Seller's knowledge, there exists no
material default, breach, violation or event of acceleration (and no event
which, with the passage of time or the giving of notice, or both, would
constitute any of the foregoing) under the documents evidencing or securing the
Mortgage Loan, in any such case to the extent the same materially and adversely
affects the value of the Mortgage Loan and the related Mortgaged Property;
provided, however, that this representation and warranty does not address or
otherwise cover any default, breach, violation or event of acceleration that
specifically pertains to any matter otherwise covered by any other
representation and warranty made by the Seller in any of paragraphs 3, 7, 12,
14, 15, 16 and 17 of this Exhibit 2.

            28. Inspections. The Seller (or if the Seller is not the originator,
the originator of the Mortgage Loan) has inspected or caused to be inspected
each Mortgaged Property in connection with the origination of the related
Mortgage Loan.

            29. Local Law Compliance. Based on due diligence considered
reasonable by prudent commercial mortgage lenders in the lending area where the
Mortgaged Property is located, the improvements located on or forming part of
each Mortgaged Property comply with applicable zoning laws and ordinances, or
constitute a legal non-conforming use or structure or, if any such improvement
does not so comply, such non-compliance does not materially and adversely affect
the value of the related Mortgaged Property, such value as determined by the
appraisal performed at origination or in connection with the sale of the related
Mortgage Loan by the Seller hereunder.

            30. Junior Liens. None of the Mortgage Loans permits the related
Mortgaged Property to be encumbered by any lien (other than a Permitted
Encumbrance) junior to or of equal priority with the lien of the related
Mortgage without the prior written consent of the holder thereof or the
satisfaction of debt service coverage or similar criteria specified therein. The
Seller has no knowledge that any of the Mortgaged Properties is encumbered by
any lien junior to the lien of the related Mortgage.

            31. Actions Concerning Mortgage Loans. To the knowledge of the
Seller, there are no actions, suits or proceedings before any court,
administrative agency or arbitrator concerning any Mortgage Loan, Mortgagor or
related Mortgaged Property that might adversely affect title to the Mortgaged
Property or the validity or enforceability of the related Mortgage or that might
materially and adversely affect the value of the Mortgaged Property as security
for the Mortgage Loan or the use for which the premises were intended.

            32. Servicing. The servicing and collection practices used by the
Seller or any prior holder or servicer of each Mortgage Loan have been in all
material respects legal, proper and prudent and have met customary industry
standards.

            33. Licenses and Permits. To the Seller's knowledge, based on due
diligence that it customarily performs in the origination of comparable mortgage
loans, as of the date of origination of each Mortgage Loan or as of the date of
the sale of the related Mortgage Loan by the Seller hereunder, the related
Mortgagor was in possession of all material licenses, permits and franchises
required by applicable law for the ownership and operation of the related
Mortgaged Property as it was then operated.

            34. Collateral in Trust. The Mortgage Note for each Mortgage Loan is
not secured by a pledge of any collateral that has not been assigned to the
Purchaser.

            35. Due on Sale. Each Mortgage Loan contains a "due on sale" clause,
which provides for the acceleration of the payment of the unpaid principal
balance of the Mortgage Loan if, without prior written consent of the holder of
the Mortgage, the property subject to the Mortgage or any material portion
thereof, or a controlling interest in the related Mortgagor, is transferred,
sold or encumbered by a junior mortgage or deed of trust; provided, however,
that certain Mortgage Loans provide a mechanism for the assumption of the loan
by a third party upon the Mortgagor's satisfaction of certain conditions
precedent, and upon payment of a transfer fee, if any, or transfer of interests
in the Mortgagor or constituent entities of the Mortgagor to a third party or
parties related to the Mortgagor upon the Mortgagor's satisfaction of certain
conditions precedent.

            36. Non-Recourse Exceptions. The Mortgage Loan documents for each
Mortgage Loan provide that such Mortgage Loan constitutes either (a) the
recourse obligations of at least one natural person or (b) the non-recourse
obligations of the related Mortgagor, provided that at least one natural person
(and the Mortgagor if the Mortgagor is not a natural person) is liable to the
holder of the Mortgage Loan for damages arising in the case of fraud or willful
misrepresentation by the Mortgagor, misappropriation of rents, insurance
proceeds or condemnation awards and breaches of the environmental covenants in
the Mortgage Loan documents.

            37. Reserved.

            38. Reserved.

            39. Reserved.

            40. Prepayment Premiums. As of the applicable date of origination of
each such Mortgage Loan, any prepayment premiums and yield maintenance charges
payable under the terms of the Mortgage Loans, in respect of voluntary
prepayments, constituted customary prepayment premiums and yield maintenance
charges for commercial mortgage loans of the Seller.

            41. Reserved.

            42. Single Purpose Entity. The Mortgagor on each Mortgage Loan with
a Cut-Off Date Principal Balance in excess of $10 million, was, as of the
origination of the Mortgage Loan, a Single Purpose Entity. For this purpose, a
"Single Purpose Entity" shall mean an entity, other than an individual, whose
organizational documents provide substantially to the effect that it was formed
or organized solely for the purpose of owning and operating one or more of the
Mortgaged Properties securing the Mortgage Loans and prohibit it from engaging
in any business unrelated to such Mortgaged Property or Properties, and whose
organizational documents further provide, or which entity represented in the
related Mortgage Loan documents, substantially to the effect that it does not
have any assets other than those related to its interest in, and operation of,
such Mortgaged Property or Properties, or any indebtedness other than as
permitted by the related Mortgage(s) or the other related Mortgage Loan
documents, that it has its own books and records and accounts separate and apart
from any other person (other than a Mortgagor for a Mortgage Loan that is
cross-collateralized and cross-defaulted with the related Mortgage Loan), and
that it holds itself out as a legal entity, separate and apart from any other
person.

            43. Defeasance and Assumption Costs. The related Mortgage Loan
Documents provide that the related borrower is responsible for the payment of
all reasonable costs and expenses of the Lender incurred in connection with the
defeasance of such Mortgage Loan and the release of the related Mortgaged
Property, and the borrower is required to pay all reasonable costs and expenses
of the Lender associated with the approval of an assumption of such Mortgage
Loan.

            44. Defeasance. No Mortgage Loan provides that it can be defeased
until the date that is more than two years after the Closing Date or provides
that it can be defeased with any property other than government securities (as
defined in Section 2(a)(16) of the Investment Company Act of 1940, as amended)
or any direct non-callable security issued or guaranteed as to principal or
interest by the United States.

<PAGE>

                                   Schedule A

             EXCEPTIONS TO REPRESENTATIONS AND WARRANTIES REGARDING
                            INDIVIDUAL MORTGAGE LOANS
                        (Principal Silver, LLC - 2002 IQ)

REP. NO.                       LOAN NO.             EXPLANATION
--------                       --------             -----------
4. Lien; Valid Assignment      All Mortgage Loans   None of the Mortgage Loans
                                                    are secured by hotels or
                                                    assisted living facilities.

                                     752714         UCC-1 financing statements
                                     752286         were not filed for these
                                     752710         loans.
                                     752347
                                     752514
                                     752320
                                     752413
                                     752297
                                     752563
                                     751213
                                     752547
                                     752621
                                     751138
                                     751315
                                     751848
                                     751491
                                     751336
                                     751554
                                     751419
                                     751085

7(i). Condition of Property    All Mortgage Loans   None of the Mortgage Loans
                                                    were the subject of an
                                                    engineering report within 18
                                                    months prior to the Cut-Off
                                                    Date.

12(i). Environmental           All Mortgage Loans   None of the Mortgage Loans
       Condition                                    were the subject of an
                                                    environmental site
                                                    assessment within 18 months
                                                    prior to the Cut-Off Date.

                                     751721,        Each of these Mortgage Loans
                                 751848, 752347,    are the subject of a Secured
                                 752713, 751632,    Creditor Impaired Property
                                     751633         Policy. Each policy was
                                                    issued by American
                                                    International Specialty
                                                    Lines Insurance Company (a
                                                    member company of American
                                                    International Group, Inc.)

14(a). Insurance                     752563         The insurance policy
                                                    provided to Lender provides
                                                    for 100% coinsurance. As of
                                                    the closing date of the
                                                    Mortgage Loan, however, the
                                                    amount of insurance coverage
                                                    was in excess of the
                                                    replacement cost for the
                                                    Mortgaged Property.

17. Leasehold Estate                 751501         The ground lease does not
                                                    meet all of the requirements
                                                    of 17. However, the fee
                                                    interest of the ground lease
                                                    is subordinated to the
                                                    Mortgage Loan and the ground
                                                    lease does not survive
                                                    foreclosure.

36. Non-Recourse Exceptions          751067         These Mortgage Loans do not
                                     751085         have a natural person as the
                                                    borrower, but the borrowing
                                                    entity either includes
                                                    natural persons (751067) or
                                                    the general partners of the
                                                    Borrower are natural
                                                    persons(751085).

                                 751095, 751138,    These Mortgage Loans do not
                                 751213, 751501,    have a natural person liable
                                 751848, 752297,    for the carveouts.
                                 752514, 752563,
                                 751315, 752621,
                                 752710, 752714

42. Single Purpose Entity      All Mortgage Loans   None of the Mortgagors on
                                                    the Mortgage Loans with
                                                    Cut-Off Date Principal
                                                    Balances in excess of $10
                                                    million was, at origination,
                                                    a Single Purpose Entity.

43. Defeasance and             All Mortgage Loans   None of the Mortgage Loans
       Assumption Costs                             has a defeasance clause.

44. Defeasance                 All Mortgage Loans   None of the Mortgage Loans
                                                    provides for defeasance or a
                                                    related lock-out period.

<PAGE>

                                   Schedule B

    List of Mortgagors that are Third-Party Beneficiaries Under Section 5(b)

1.    Mortgage Loan Numbers 38-39
      Related Mortgagors: Panos Enterprises LLC, Panos Properties LLC II

<PAGE>

                                    EXHIBIT 3

                               PRICING FORMULATION

              Purchase Price                          $180,453,634

<PAGE>

                                    EXHIBIT 4

                                  BILL OF SALE

            1.    PARTIES. The parties to this Bill of Sale are the following:

                  Seller:           Principal Silver, LLC
                  Purchaser:        Morgan Stanley Dean Witter Capital I Inc.

            2. SALE. For value received, the Seller hereby conveys to the
Purchaser, without recourse, all right, title and interest in and to the
Mortgage Loans identified on Exhibit 1 (the "Mortgage Loan Schedule") to the
Mortgage Loan Purchase Agreement, dated as of June 1, 2002 (the "Mortgage Loan
Purchase Agreement"), between the Seller and the Purchaser and all of the
following property:

            (a) All accounts, general intangibles, chattel paper, instruments,
      documents, money, deposit accounts, certificates of deposit, goods,
      letters of credit, advices of credit and investment property consisting
      of, arising from or relating to any of the following property: the
      Mortgage Loans identified on the Mortgage Loan Schedule including the
      related Mortgage Notes, Mortgages, security agreements, and title, hazard
      and other insurance policies, all distributions with respect thereto
      payable after the Cut-Off Date, all substitute or replacement Mortgage
      Loans and all distributions with respect thereto, and the Mortgage Files;

            (b) All accounts, general intangibles, chattel paper, instruments,
      documents, money, deposit accounts, certificates of deposit, goods,
      letters of credit, advices of credit, investment property, and other
      rights arising from or by virtue of the disposition of, or collections
      with respect to, or insurance proceeds payable with respect to, or claims
      against other Persons with respect to, all or any part of the collateral
      described in clause (a) above (including any accrued discount realized on
      liquidation of any investment purchased at a discount); and

            (c) All cash and non-cash proceeds of the collateral described in
      clauses (a) and (b) above.

            3. PURCHASE PRICE. The amount and other consideration set forth on
Exhibit 3 to the Mortgage Loan Purchase Agreement.

            4. DEFINITIONS. Terms used but not defined herein shall have the
meanings assigned to them in the Mortgage Loan Purchase Agreement.

<PAGE>

            IN WITNESS WHEREOF, each of the parties hereto has caused this Bill
of Sale to be duly executed and delivered on this [__]th day of June, 2002.

PURCHASER:                              MORGAN STANLEY DEAN WITTER
                                        CAPITAL I INC.

                                        By:_____________________________________
                                           Name:
                                           Title:

SELLER:                                 PRINCIPAL SILVER, LLC, a Delaware
                                        limited liability company

                                        By: PRINCIPAL ENTERPRISE CAPITAL I, LLC,
                                            a Delaware limited liability
                                            company, a member

                                            By: PRINCIPAL ENTERPRISE CAPITAL,
                                                LLC, a Delaware limited
                                                liability company, its Manager

                                                By: ____________________________
                                                    Name:
                                                    Title:

                                                By: ____________________________
                                                    Name:
                                                    Title:

<PAGE>

                                    EXHIBIT 5

                        FORM OF LIMITED POWER OF ATTORNEY

THIS DOCUMENT PREPARED BY,
AND AFTER RECORDING RETURN TO:

Lend Lease Asset Management, L.P.
700 North Pearl Street, Suite 2400
Dallas, Texas 75201
Attention: Michael O'Hanlon

LaSalle Bank National Association
135 South LaSalle Street, Suite 1625
Chicago, Illinois  60603
Attention: Asset-Backed Securities Trust Services Group

--------------------------------------------------------------------------------

                            LIMITED POWER OF ATTORNEY

            Know all persons by these presents; that the undersigned, having an
address of [MORTGAGE LOAN SELLER'S ADDRESS] (the "Seller"), being duly empowered
and authorized to do so, does hereby make, constitute and appoint Lend Lease
Asset Management, L.P., having an address of 700 North Pearl Street, Suite 2400,
Dallas, Texas 75201, Attention: Michael O'Hanlon (the "Special Servicer") and
LaSalle Bank National Association, having an address of 135 South LaSalle
Street, Suite 1625, Chicago, Illinois 60603, Attention: Asset-Backed Securities
Trust Services Group--Morgan Stanley Dean Witter Capital I Inc., Series 2002-IQ2
(the "Trustee") as the true and lawful attorneys-in-fact for the undersigned, in
its name, place and stead, and for its use and benefit:

To empower the Trustee and, in the event of the failure or incapacity of the

      Trustee, the Special Servicer, to submit for recording, at the expense of
      the Seller, any mortgage loan documents required to be recorded as
      described in the Pooling and Servicing Agreement and any intervening
      assignments with evidence of recording thereon that are required to be
      included in the Mortgage File (so long as original counterparts have
      previously been delivered to the Trustee).

This power of attorney shall be limited to the above-mentioned exercise of
      power.

This instrument is to be construed and interpreted as a limited power of
      attorney. The enumeration of specific items, rights, acts or powers herein
      is not intended to, nor does it give rise to, and it is not intended to be
      construed as, a general power of attorney.

The rights, power of authority of said attorney herein granted shall commence
      and be in full force and effect on the date hereof and such rights, powers
      and authority shall remain in full force and effect until the termination
      of the Pooling and Servicing Agreement, dated as of June 1, 2002 (the
      "Pooling and Servicing Agreement"), among Morgan Stanley Dean Witter
      Capital I Inc., as Depositor, ORIX Capital Markets, LLC, as Master
      Servicer, the Special Servicer, the Trustee and ABN AMRO Bank N.V., as
      Fiscal Agent, with respect to the Trust.

            Capitalized terms used herein but not defined herein shall have the
meanings assigned to them in the Pooling and Servicing Agreement.

<PAGE>

IN WITNESS WHEREOF, I have hereunto set my hand this ____ day of June, 2002.

Witnessed by:                           [SELLER]

___________________________             By:________________________
Print Name:                             Name:
                                        Title:

STATE OF______________________)

COUNTY OF_____________________)

On __________________________, before me, a Notary Public in and for said
county, personally appeared ________________________________, personally known
to me (or proved to me on the basis of satisfactory evidence) to be the person
whose name is subscribed to the within instrument and acknowledged to me that
he/she executed the same in his/her authorized capacity, and that by his/her
signature on the instrument the person acted and executed the instrument.
Witness my hand and official seal.

_______________________________________
Commission Expires:

<PAGE>

                                   EXHIBIT K-4

                   FORM OF MORTGAGE LOAN PURCHASE AGREEMENT IV
                                     (JHREF)

<PAGE>

                                                                  EXECUTION COPY

                        MORTGAGE LOAN PURCHASE AGREEMENT
                                  (JHREF LOANS)

            Mortgage Loan Purchase Agreement ("Agreement"), dated as of June 1,
2002, between John Hancock Real Estate Finance, Inc. (the "Seller"), and Morgan
Stanley Dean Witter Capital I Inc. (the "Purchaser").

            The Seller agrees to sell and the Purchaser agrees to purchase
certain mortgage loans listed on Exhibit 1 hereto (the "Mortgage Loans") as
described herein. The Purchaser will convey the Mortgage Loans to a trust (the
"Trust") created pursuant to a Pooling and Servicing Agreement (the "Pooling and
Servicing Agreement"), to be dated as of June 1, 2002, between the Purchaser, as
depositor, ORIX Capital Markets, LLC, as master servicer (the "Master
Servicer"), Lend Lease Asset Management, L.P., as special servicer (the "Special
Servicer"), LaSalle Bank National Association, as trustee, paying agent and
certificate registrar (the "Trustee") and ABN AMRO Bank N.V., as fiscal agent
(the "Fiscal Agent"). In exchange for the Mortgage Loans and certain other
mortgage loans to be purchased by the Purchaser (collectively the "Other
Mortgage Loans"), the Trust will issue to the Depositor pass-through
certificates to be known as Morgan Stanley Dean Witter Capital I Inc.,
Commercial Mortgage Pass-Through Certificates, Series 2002-IQ2 (the
"Certificates"). The Certificates will be issued pursuant to the Pooling and
Servicing Agreement.

            Capitalized terms used herein but not defined herein shall have the
meanings assigned to them in the Pooling and Servicing Agreement.

            The Class A-1, Class A-2, Class A-3, Class B, Class C and Class D
Certificates (the "Public Certificates") will be sold by the Purchaser to Morgan
Stanley & Co. Incorporated and Credit Suisse First Boston Corporation (the
"Underwriters"), pursuant to an Underwriting Agreement, between the Purchaser
and the Underwriters, dated June 19, 2002 (the "Underwriting Agreement"), and
the Class X-1, Class X-2, Class E, Class F, Class G, Class H, Class J, Class K,
Class L, Class M, Class N, Class O, Class R-I, Class R-II and Class R-III
Certificates (the "Private Certificates") will be sold by the Purchaser to
Morgan Stanley & Co. Incorporated (the "Initial Purchaser") pursuant to a
Certificate Purchase Agreement, between the Purchaser and the Initial Purchaser,
dated June 19, 2002 (the "Certificate Purchase Agreement"). The Underwriters
will offer the Public Certificates for sale publicly pursuant to a Prospectus
dated June 6, 2002, as supplemented by a Prospectus Supplement dated June 19,
2002 (together, the "Prospectus Supplement"), and the Initial Purchaser will
offer the Private Certificates for sale in transactions exempt from the
registration requirements of the Securities Act of 1933 pursuant to a Private
Placement Memorandum dated June 19, 2002 (the "Memorandum").

            In consideration of the mutual agreements contained herein, the
Seller and the Purchaser hereby agree as follows:

            Section 1. Agreement to Purchase. The Seller agrees to sell, and the
Purchaser agrees to purchase, on a servicing released basis, the Mortgage Loans
identified on the schedule (the "Mortgage Loan Schedule") annexed hereto as
Exhibit 1, as such schedule may be amended to reflect the actual Mortgage Loans
accepted by the Purchaser pursuant to the terms hereof. The Cut-Off Date with
respect to the Mortgage Loans is June 1, 2002. The Mortgage Loans will have an
aggregate principal balance as of the close of business on the Cut-Off Date,
after giving effect to any payments due on or before such date, whether or not
received, of $109,898,525. The sale of the Mortgage Loans shall take place on
June 27, 2002 or such other date as shall be mutually acceptable to the parties
hereto (the "Closing Date"). The purchase price to be paid by the Purchaser for
the Mortgage Loans shall equal the amount set forth as such purchase price on
Exhibit 3 hereto. The purchase price shall be paid to the Seller by wire
transfer in immediately available funds on the Closing Date.

            On the Closing Date, the Purchaser will assign to the Trustee
pursuant to the Pooling and Servicing Agreement all of its right, title and
interest in and to the Mortgage Loans and its rights under this Agreement (to
the extent set forth in Section 14), and the Trustee shall succeed to such
right, title and interest in and to the Mortgage Loans and the Purchaser's
rights under this Agreement (to the extent set forth in Section 14).

            Section 2. Conveyance of Mortgage Loans. Effective as of the Closing
Date, subject only to receipt of the consideration referred to in Section 1
hereof and the satisfaction of the conditions specified in Sections 6 and 7
hereof, the Seller does hereby transfer, assign, set over and otherwise convey
to the Purchaser, without recourse, all the right, title and interest of the
Seller, subject to that certain Servicing Rights Purchase and Sale Agreement,
dated June 1, 2002, between the Seller and the Master Servicer, in and to the
Mortgage Loans identified on the Mortgage Loan Schedule as of the Closing Date.
The Mortgage Loan Schedule, as it may be amended from time to time on or prior
to the Closing Date, shall conform to the requirements of this Agreement and the
Pooling and Servicing Agreement. In connection with such transfer and
assignment, the Seller shall deliver to or on behalf of the Trustee, on behalf
of the Purchaser, on or prior to the Closing Date, the Mortgage Note (as
described in clause (a) below) for each Mortgage Loan and on or prior to the
fifth Business Day after the Closing Date, one limited power of attorney
substantially in the form attached hereto as Exhibit 5 in favor of the Trustee,
the Master Servicer and the Special Servicer to empower the Trustee and, in the
event of the failure or incapacity of the Trustee, the Master Servicer or the
Special Servicer, to submit for recording, at the expense of the Seller, any
mortgage loan documents required to be recorded as described in the Pooling and
Servicing Agreement and any intervening assignments with evidence of recording
thereon that are required to be included in the Mortgage Files (so long as
original counterparts have previously been delivered to the Trustee). The Seller
agrees to reasonably cooperate with the Trustee, the Master Servicer and the
Special Servicer in connection with any additional powers of attorney or
revisions thereto that are requested by such parties for purposes of such
recordation. The parties hereto agree that no such power of attorney shall be
used with respect to any Mortgage Loan by or under authorization by any party
hereto except to the extent that the absence of a document described in the
second preceding sentence with respect to such Mortgage Loan remains unremedied
as of the earlier of (i) the date that is 180 days following the delivery of
notice of such absence to the Seller, but in no event earlier than 18 months
from the Closing Date, and (ii) the date (if any) on which such Mortgage Loan
becomes a Specially Serviced Mortgage Loan. The Trustee shall submit such
documents, at the Seller's expense, after the periods set forth above, provided,
however, the Trustee shall not submit such assignments for recording if the
Seller produces evidence that it has sent any such assignment for recording and
certifies that the Seller is awaiting its return from the applicable recording
office. In addition, not later than the 30th day following the Closing Date, the
Seller shall deliver to or on behalf of the Trustee each of the remaining
documents or instruments specified below (with such exceptions as are permitted
by this Section) with respect to each Mortgage Loan (each, a "Mortgage File").
(The Seller acknowledges that the term "without recourse" does not modify the
duties of the Seller under Section 5 hereof.)

            All Mortgage Files, or portions thereof, delivered prior to the
Closing Date are to be held by or on behalf of the Trustee in escrow on behalf
of the Seller at all times prior to the Closing Date. The Mortgage Files shall
be released from escrow upon closing of the sale of the Mortgage Loans and
payments of the purchase price therefor as contemplated hereby. The Mortgage
File for each Mortgage Loan shall contain the following documents:

            (a) The original Mortgage Note bearing all intervening endorsements,
endorsed "Pay to the order of LaSalle Bank National Association, as Trustee for
Morgan Stanley Dean Witter Capital I Inc., Commercial Mortgage Pass-Through
Certificates, Series 2002-IQ2, without recourse, representation or warranty" or
if the original Mortgage Note is not included therein, then a lost note
affidavit, with a copy of the Mortgage Note attached thereto;

            (b) The original Mortgage, with evidence of recording thereon, and,
if the Mortgage was executed pursuant to a power of attorney, a certified true
copy of the power of attorney certified by the public recorder's office, with
evidence of recording thereon (if recording is customary in the jurisdiction in
which such power of attorney was executed), or certified by a title insurance
company or escrow company to be a true copy thereof; provided that if such
original Mortgage cannot be delivered with evidence of recording thereon on or
prior to the 45th day following the Closing Date because of a delay caused by
the public recording office where such original Mortgage has been delivered for
recordation or because such original Mortgage has been lost, the Seller shall
deliver or cause to be delivered to the Trustee a true and correct copy of such
Mortgage, together with (i) in the case of a delay caused by the public
recording office, an Officer's Certificate (as defined below) of the Seller
stating that such original Mortgage has been sent to the appropriate public
recording official for recordation or (ii) in the case of an original Mortgage
that has been lost after recordation, a certification by the appropriate county
recording office where such Mortgage is recorded that such copy is a true and
complete copy of the original recorded Mortgage;

            (c) The originals of all agreements modifying a Money Term or other
material modification, consolidation and extension agreements, if any, with
evidence of recording thereon, or if any such original modification,
consolidation or extension agreement has been delivered to the appropriate
recording office for recordation and either has not yet been returned on or
prior to the 45th day following the Closing Date with evidence of recordation
thereon or has been lost after recordation, a true copy of such modification,
consolidation or extension certified by the Seller together with (i) in the case
of a delay caused by the public recording office, an Officer's Certificate of
the Seller stating that such original modification, consolidation or extension
agreement has been dispatched or sent to the appropriate public recording
official for recordation or (ii) in the case of an original modification,
consolidation or extension agreement that has been lost after recordation, a
certification by the appropriate county recording office where such document is
recorded that such copy is a true and complete copy of the original recorded
modification, consolidation or extension agreement, and the originals of all
assumption agreements, if any;

            (d) An original Assignment of Mortgage for each Mortgage Loan, in
form and substance acceptable for recording, signed by the holder of record in
favor of "LaSalle Bank National Association, as Trustee for Morgan Stanley Dean
Witter Capital I Inc., Commercial Mortgage Pass-Through Certificates, Series
2002-IQ2";

            (e) Originals of all intervening assignments of Mortgage, if any,
with evidence of recording thereon or, if such original assignments of Mortgage
have been delivered to the appropriate recorder's office for recordation,
certified true copies of such assignments of Mortgage certified by the Seller,
or in the case of an original blanket intervening assignment of Mortgage
retained by the Seller, a copy thereof certified by the Seller or, if any
original intervening assignment of Mortgage has not yet been returned on or
prior to the 45th day following the Closing Date from the applicable recording
office or has been lost, a true and correct copy thereof, together with (i) in
the case of a delay caused by the public recording office, an Officer's
Certificate of the Seller stating that such original intervening assignment of
Mortgage has been sent to the appropriate public recording official for
recordation or (ii) in the case of an original intervening Assignment of
Mortgage that has been lost after recordation, a certification by the
appropriate county recording office where such assignment is recorded that such
copy is a true and complete copy of the original recorded intervening Assignment
of Mortgage;

            (f) If the related Assignment of Leases is separate from the
Mortgage, the original of such Assignment of Leases with evidence of recording
thereon or, if such Assignment of Leases has not been returned on or prior to
the 45th day following the Closing Date from the applicable public recording
office, a copy of such Assignment of Leases certified by the Seller to be a true
and complete copy of the original Assignment of Leases submitted for recording,
together with (i) an original of each assignment of such Assignment of Leases
with evidence of recording thereon and showing a complete recorded chain of
assignment from the named assignee to the holder of record, and if any such
assignment of such Assignment of Leases has not been returned from the
applicable public recording office, a copy of such assignment certified by the
Seller to be a true and complete copy of the original assignment submitted for
recording, and (ii) an original assignment of such Assignment of Leases, in
recordable form, signed by the holder of record in favor of "LaSalle Bank
National Association, as Trustee for Morgan Stanley Dean Witter Capital I Inc.,
Commercial Mortgage Pass-Through Certificates, Series 2002-IQ2," which
assignment may be effected in the related Assignment of Mortgage;

            (g) The original of each guaranty, if any, constituting additional
security for the repayment of such Mortgage Loan;

            (h) The original Title Insurance Policy, or in the event such
original Title Insurance Policy has not been issued, an original binder or
actual title commitment or a copy thereof certified by the title company with
the original Title Insurance Policy to follow within 180 days of the Closing
Date or a preliminary title report with an original Title Insurance Policy to
follow within 180 days of the Closing Date;

            (i) (A) UCC financing statements (together with all assignments
thereof) and (B) UCC-2 or UCC-3 financing statements to the Trustee executed and
delivered in connection with the Mortgage Loan;

            (j) Copies of the related ground lease(s), if any, to any Mortgage
Loan where the Mortgagor is the lessee under such ground lease and there is a
lien in favor of the mortgagee in such lease.

            (k) Copies of any loan agreements, lock-box agreements and
intercreditor agreements (including, without limitation, the One Seaport Plaza
Intercreditor Agreement and the Woodfield Intercreditor Agreement), if any,
related to any Mortgage Loan;

            (l) Either (A) the original of each letter of credit, if any,
constituting additional collateral for such Mortgage Loan, which shall be
assigned and delivered to the Trustee on behalf of the Trust with a copy to be
held by the Primary Servicer (or the Master Servicer), and applied, drawn,
reduced or released in accordance with documents evidencing or securing the
applicable Mortgage Loan, the Pooling and Servicing Agreement and the Primary
Servicing Agreement or (B) the original of each letter of credit, if any,
constituting additional collateral for such Mortgage Loan, which shall be held
by the applicable Primary Servicer (or the Master Servicer) on behalf of the
Trustee, with a copy to be held by the Trustee, and applied, drawn, reduced or
released in accordance with documents evidencing or securing the applicable
Mortgage Loan, the Pooling and Servicing Agreement and the Primary Servicing
Agreement (it being understood that the Seller has agreed (a) that the proceeds
of such letter of credit belong to the Trust, (b) to notify, on or before the
Closing Date, the bank issuing the letter of credit that the letter of credit
and the proceeds thereof belong to the Trust, and to use reasonable efforts to
obtain within 30 days (but in any event to obtain within 90 days) following the
Closing Date, an acknowledgement thereof by the bank (with a copy of such
acknowledgement to be sent to the Trustee) and (c) to indemnify the Trust for
any liabilities, charges, costs, fees or other expenses accruing from the
failure of the Seller to assign the letter of credit hereunder). In the case of
clause (B) above, any letter of credit held by the applicable Primary Servicer
(or Master Servicer) shall be held in its capacity as agent of the Trust, and if
the applicable Primary Servicer (or Master Servicer) sells its rights to service
the applicable Mortgage Loan, the applicable Primary Servicer (or Master
Servicer) has agreed to assign the applicable letter of credit to the Trust or
at the direction of the Special Servicer to such party as the Special Servicer
may instruct, in each case, at the expense of the applicable Primary Servicer
(or Master Servicer). The applicable Primary Servicer (or Master Servicer) has
agreed to indemnify the Trust for any loss caused by the ineffectiveness of such
assignment;

            (m) The original environmental indemnity agreement, if any, related
to any Mortgage Loan;

            (n) Third-party management agreements for hotels and mortgage
properties securing Mortgage Loans with a Cut-Off Date principal balance equal
to or greater than $20,000,000;

            (o) Any Environmental Insurance Policy; and

            (p) Any affidavit and indemnification agreement.

            The original of each letter of credit referred to in clause (l)
above shall be delivered to the Primary Servicer, the Master Servicer or the
Trustee (as the case may be) within 45 days of the Closing Date. In addition, a
copy of any ground lease shall be delivered to the Primary Servicer within 30
days of the Closing Date. Any failure to deliver any ground lease shall
constitute a document defect.

            "Officer's Certificate" shall mean a certificate signed by one or
more of the Chairman of the Board, any Vice Chairman, the President, any Senior
Vice President, any Vice President, any Assistant Vice President, any Treasurer
or any Assistant Treasurer.

            The Assignments of Mortgage and assignment of Assignment of Leases
referred to in clauses (d), (e) and (f) may be in the form of a single
instrument assigning the Mortgage and the Assignment of Leases to the extent
permitted by applicable law. To avoid the unnecessary expense and administrative
inconvenience associated with the execution and recording or filing of multiple
assignments of mortgages, assignments of leases (to the extent separate from the
mortgages) and assignments of UCC financing statements, the Seller shall
execute, in accordance with the third succeeding paragraph, the assignments of
mortgages, the assignments of leases (to the extent separate from the mortgages)
and the assignments of UCC financing statements relating to the Mortgage Loans
naming the Trustee on behalf of the Certificateholders as assignee.
Notwithstanding the fact that such assignments of mortgages, assignments of
leases (to the extent separate from the assignments of mortgages) and
assignments of UCC financing statements shall name the Trustee on behalf of the
Certificateholders as the assignee, the parties hereto acknowledge and agree
that the Mortgage Loans shall for all purposes be deemed to have been
transferred from the Seller to the Purchaser and from the Purchaser to the
Trustee on behalf of the Certificateholders.

            If the Seller cannot deliver, or cause to be delivered, as to any
Mortgage Loan, any of the documents and/or instruments referred to in clauses
(b), (c), (e) or (f), with evidence of recording thereon, solely because of a
delay caused by the public recording office where such document or instrument
has been delivered for recordation within such 45 day period, but the Seller
delivers a photocopy thereof (certified by the appropriate county recorder's
office to be a true and complete copy of the original thereof submitted for
recording), to the Trustee within such 45 day period, the Seller shall then
deliver within 90 days after the Closing Date the recorded document (or within
such longer period after the Closing Date as the Trustee may consent to, which
consent shall not be unreasonably withheld so long as the Seller is, as
certified in writing to the Trustee no less often than monthly, in good faith
attempting to obtain from the appropriate county recorder's office such original
or photocopy).

            The Trustee, as assignee or transferee of the Purchaser, shall be
entitled to all scheduled payments of principal due thereon after the Cut-Off
Date, all other payments of principal collected after the Cut-Off Date (other
than scheduled payments of principal due on or before the Cut-Off Date), and all
payments of interest on the Mortgage Loans allocable to the period commencing on
the Cut-Off Date. All scheduled payments of principal and interest due on or
before the Cut-Off Date and collected after the Cut-Off Date shall belong to the
Seller.

            Within 45 days following the Closing Date, the Seller shall deliver
and the Purchaser, the Trustee or the agents of either may submit or cause to be
submitted for recordation at the expense of the Seller, in the appropriate
public office for real property records, each assignment referred to in clauses
(d) and (f)(ii) above. Within 90 days following the Closing Date, the Seller
shall deliver and the Purchaser, the Trustee or the agents of either may submit
or cause to be submitted for filing, at the expense of the Seller, in the
appropriate public office for Uniform Commercial Code financing statements, the
assignment referred to in clause (i) above. If any such document or instrument
is lost or returned unrecorded or unfiled, as the case may be, because of a
defect therein, the Seller shall prepare a substitute therefor or cure such
defect, and the Seller shall, at its own expense (except in the case of a
document or instrument that is lost by the Trustee), record or file, as the case
may be, and deliver such document or instrument in accordance with this Section
2.

            Documents that are in the possession of the Seller, its agents or
its subcontractors that relate to the Mortgage Loans or Companion Loans and that
are not required to be delivered to the Trustee shall be shipped by the Seller
to or at the direction of the Master Servicer, on behalf of the Purchaser, on or
prior to the 75th day after the Closing Date, in accordance with Section 3.1 of
the Primary Servicing Agreement, if applicable.

            The documents required to be delivered to the Master Servicer (or in
the alternative, the Primary Servicer) shall include, to the extent required to
be (and actually) delivered to the Seller pursuant to the applicable Mortgage
Loan documents, copies of the following items: the Mortgage Note, any Mortgage,
the Assignment of Leases and the Assignment of Mortgage, any guaranty/indemnity
agreement, any loan agreement, the insurance policies or certificates, as
applicable, the property inspection reports, any financial statements on the
property, any escrow analysis, the tax bills, the Appraisal, the environmental
report, the engineering report, the asset summary, financial information on the
Mortgagor/sponsor and any guarantors, any letters of credit, any intercreditor
agreement and any Environmental Insurance Policies. Delivery of any of the
foregoing documents to the Primary Servicer shall be deemed a delivery to the
Master Servicer and satisfy Seller's obligations under this sub-paragraph.

            Upon the sale of the Mortgage Loans by the Seller to the Purchaser
pursuant to this Agreement, the ownership of each Mortgage Note, Mortgage and
the other contents of the related Mortgage File shall be vested in the Purchaser
and its assigns, and the ownership of all records and documents with respect to
the related Mortgage Loan prepared by or that come into the possession of the
Seller shall immediately vest in the Purchaser and its assigns, and shall be
delivered promptly by the Seller to or on behalf of either the Trustee or the
Master Servicer as set forth herein, subject to the requirements of the Primary
Servicing Agreement. The Seller's and Purchaser's records shall reflect the
transfer of each Mortgage Loan from the Seller to the Purchaser and its assigns
as a sale.

            It is the express intent of the parties hereto that the conveyance
of the Mortgage Loans and related property to the Purchaser by the Seller as
provided in this Section 2 be, and be construed as, an absolute sale of the
Mortgage Loans and related property. It is, further, not the intention of the
parties that such conveyance be deemed a pledge of the Mortgage Loans and
related property by the Seller to the Purchaser to secure a debt or other
obligation of the Seller. However, in the event that, notwithstanding the intent
of the parties, the Mortgage Loans or any related property are held to be the
property of the Seller, or if for any other reason this Agreement is held or
deemed to create a security interest in the Mortgage Loans or any related
property, then:

            (i) this Agreement shall be deemed to be a security agreement; and

            (ii) the conveyance provided for in this Section 2 shall be deemed
      to be a grant by the Seller to the Purchaser of a security interest in all
      of the Seller's right, title, and interest, whether now owned or hereafter
      acquired, in and to:

                  (A) All accounts, general intangibles, chattel paper,
            instruments, documents, money, deposit accounts, certificates of
            deposit, goods, letters of credit, advices of credit and investment
            property consisting of, arising from or relating to any of the
            following property: the Mortgage Loans identified on the Mortgage
            Loan Schedule, including the related Mortgage Notes, Mortgages,
            security agreements, and title, hazard and other insurance policies,
            all distributions with respect thereto payable after the Cut-Off
            Date, all substitute or replacement Mortgage Loans and all
            distributions with respect thereto, and the Mortgage Files;

                  (B) All accounts, general intangibles, chattel paper,
            instruments, documents, money, deposit accounts, certificates of
            deposit, goods, letters of credit, advices of credit, investment
            property and other rights arising from or by virtue of the
            disposition of, or collections with respect to, or insurance
            proceeds payable with respect to, or claims against other Persons
            with respect to, all or any part of the collateral described in
            clause (A) above (including any accrued discount realized on
            liquidation of any investment purchased at a discount); and

                  (C) All cash and non-cash proceeds of the collateral described
            in clauses (A) and (B) above.

            The possession by the Purchaser or its designee of the Mortgage
Notes, the Mortgages, and such other goods, letters of credit, advices of
credit, instruments, money, documents, chattel paper or certificated securities
shall be deemed to be possession by the secured party or possession by a
purchaser for purposes of perfecting the security interest pursuant to the
Uniform Commercial Code (including, without limitation, Sections 9-305 and 9-115
thereof) as in force in the relevant jurisdiction. Notwithstanding the
foregoing, the Seller makes no representation or warranty as to the perfection
of any such security interest.

            Notifications to Persons holding such property, and acknowledgments,
receipts, or confirmations from persons holding such property, shall be deemed
to be notifications to, or acknowledgments, receipts or confirmations from,
securities intermediaries, bailees or agents of, or Persons holding for, the
Purchaser or its designee, as applicable, for the purpose of perfecting such
security interest under applicable law.

            The Seller shall, to the extent consistent with this Agreement, take
such reasonable actions as may be necessary to ensure that, if this Agreement
were deemed to create a security interest in the property described above, such
security interest would be deemed to be a perfected security interest of first
priority under applicable law and will be maintained as such throughout the term
of the Agreement. In such case, the Seller shall file all filings necessary to
maintain the effectiveness of any original filings necessary under the Uniform
Commercial Code as in effect in any jurisdiction to perfect such security
interest in such property. In connection herewith, the Purchaser shall have all
of the rights and remedies of a secured party and creditor under the Uniform
Commercial Code as in force in the relevant jurisdiction.

            Notwithstanding anything to the contrary contained herein, and
subject to Section 2(a), the Purchaser shall not be required to purchase any
Mortgage Loan as to which any Mortgage Note (endorsed as described in clause (a)
above) required to be delivered to or on behalf of the Trustee or the Master
Servicer pursuant to this Section 2 on or before the Closing Date is not so
delivered, or is not properly executed or is defective on its face, and the
Purchaser's acceptance of the related Mortgage Loan on the Closing Date shall in
no way constitute a waiver of such omission or defect or of the Purchaser's or
its successors' and assigns' rights in respect thereof pursuant to Section 5.

            Section 3. Examination of Mortgage Files and Due Diligence Review.
The Seller shall (i) deliver to the Purchaser on or before the Closing Date a
diskette acceptable to the Purchaser that contains such information about the
Mortgage Loans as may be reasonably requested by the Purchaser, (ii) deliver to
the Purchaser investor files (collectively the "Collateral Information") with
respect to the assets proposed to be included in the Mortgage Pool and made
available at the Purchaser's headquarters in New York, and (iii) otherwise
cooperate fully with the Purchaser in its examination of the credit files,
underwriting documentation and Mortgage Files for the Mortgage Loans and its due
diligence review of the Mortgage Loans. The fact that the Purchaser has
conducted or has failed to conduct any partial or complete examination of the
credit files, underwriting documentation or Mortgage Files for the Mortgage
Loans shall not affect the right of the Purchaser or the Trustee to cause the
Seller to cure any Material Document Defect or Material Breach (each as defined
below), or to repurchase or replace the defective Mortgage Loans pursuant to
Section 5 of this Agreement.

            On or prior to the Closing Date, the Seller shall allow
representatives of any of the Purchaser, each Underwriter, the Initial
Purchaser, the Trustee, the Special Servicer and each Rating Agency to examine
and audit all books, records and files pertaining to the Mortgage Loans, the
Seller's underwriting procedures and the Seller's ability to perform or observe
all of the terms, covenants and conditions of this Agreement. Such examinations
and audits shall take place at one or more offices of the Seller during normal
business hours and shall not be conducted in a manner that is disruptive to the
Seller's normal business operations upon reasonable prior advance notice. In the
course of such examinations and audits, the Seller will make available to such
representatives of any of the Purchaser, each Underwriter, the Initial
Purchaser, the Trustee, the Special Servicer and each Rating Agency reasonably
adequate facilities, as well as the assistance of a sufficient number of
knowledgeable and responsible individuals who are familiar with the Mortgage
Loans and the terms of this Agreement, and the Seller shall cooperate fully with
any such examination and audit in all material respects. On or prior to the
Closing Date, the Seller shall provide the Purchaser with all material
information regarding the Seller's financial condition and access to
knowledgeable financial or accounting officers for the purpose of answering
questions with respect to the Seller's financial condition, financial statements
as provided to the Purchaser or other developments affecting the Seller's
ability to consummate the transactions contemplated hereby or otherwise
affecting the Seller in any material respect. Within 45 days after the Closing
Date, the Seller shall provide the Master Servicer or Primary Servicer, if
applicable, with any additional information identified by the Master Servicer or
Primary Servicer, if applicable, as necessary to complete the CMSA Property
File, to the extent that such information is available.

            The Purchaser may exercise any of its rights hereunder through one
or more designees or agents; provided the Purchaser has provided the Seller with
prior notice of the identity of such designee or agent.

            The Purchaser shall keep confidential any information regarding the
Seller and the Mortgage Loans that has been delivered into the Purchaser's
possession and that is not otherwise publicly available; provided, however, that
such information shall not be kept confidential (and the right to require
confidentiality under any confidentiality agreement is hereby waived) to the
extent such information is required to be included in the Memorandum or the
Prospectus Supplement or the Purchaser is required by law or court order to
disclose such information. If the Purchaser is required to disclose in the
Memorandum or the Prospectus Supplement confidential information regarding the
Seller as described in the preceding sentence, the Purchaser shall provide to
the Seller a copy of the proposed form of such disclosure prior to making such
disclosure and the Seller shall promptly, and in any event within two Business
Days, notify the Purchaser of any inaccuracies therein, in which case the
Purchaser shall modify such form in a manner that corrects such inaccuracies. If
the Purchaser is required by law or court order to disclose confidential
information regarding the Seller as described in the second preceding sentence,
the Purchaser shall notify the Seller and cooperate in the Seller's efforts to
obtain a protective order or other reasonable assurance that confidential
treatment will be accorded such information and, if in the absence of a
protective order or such assurance, the Purchaser is compelled as a matter of
law to disclose such information, the Purchaser shall, prior to making such
disclosure, advise and consult with the Seller and its counsel as to such
disclosure and the nature and wording of such disclosure and the Purchaser shall
use reasonable efforts to obtain confidential treatment therefor.
Notwithstanding the foregoing, if reasonably advised by counsel that the
Purchaser is required by a regulatory agency or court order to make such
disclosure immediately, then the Purchaser shall be permitted to make such
disclosure without prior review by the Seller.

            Section 4. Representations and Warranties of the Seller and the
Purchaser.

            (a) To induce the Purchaser to enter into this Agreement, the Seller
hereby makes for the benefit of the Purchaser and its assigns with respect to
each Mortgage Loan as of the date hereof (or as of such other date specifically
set forth in the particular representation and warranty) each of the
representations and warranties set forth on Exhibit 2 hereto, except as
otherwise set forth on Schedule A attached hereto, and hereby further represents
and warrants to the Purchaser as of the date hereof that:

            (i) The Seller is duly organized and is validly existing as a
      corporation in good standing under the laws of the State of Delaware. The
      Seller has the requisite power and authority and legal right to own the
      Mortgage Loans and to transfer and convey the Mortgage Loans to the
      Purchaser and has the requisite power and authority to execute and
      deliver, engage in the transactions contemplated by, and perform and
      observe the terms and conditions of, this Agreement.

            (ii) This Agreement has been duly and validly authorized, executed
      and delivered by the Seller, and assuming the due authorization, execution
      and delivery hereof by the Purchaser, this Agreement constitutes the
      valid, legal and binding agreement of the Seller, enforceable in
      accordance with its terms, except as such enforcement may be limited by
      (A) laws relating to bankruptcy, insolvency, reorganization, receivership
      or moratorium, (B) other laws relating to or affecting the rights of
      creditors generally, (C) general equity principles (regardless of whether
      such enforcement is considered in a proceeding in equity or at law) or (D)
      public policy considerations underlying the securities laws, to the extent
      that such public policy considerations limit the enforceability of the
      provisions of this Agreement that purport to provide indemnification from
      liabilities under applicable securities laws.

            (iii) No consent, approval, authorization or order of, registration
      or filing with, or notice to, any governmental authority or court is
      required, under federal or state law, for the execution, delivery and
      performance of or compliance by the Seller with this Agreement, or the
      consummation by the Seller of any transaction contemplated hereby, other
      than (1) such qualifications as may be required under state securities or
      blue sky laws, (2) the filing or recording of financing statements,
      instruments of assignment and other similar documents necessary in
      connection with the Seller's sale of the Mortgage Loans to the Purchaser,
      (3) such consents, approvals, authorizations, qualifications,
      registrations, filings or notices as have been obtained and (4) where the
      lack of such consent, approval, authorization, qualification,
      registration, filing or notice would not have a material adverse effect on
      the performance by the Seller under this Agreement.

            (iv) Neither the transfer of the Mortgage Loans to the Purchaser,
      nor the execution, delivery or performance of this Agreement by the
      Seller, conflicts or will conflict with, results or will result in a
      breach of, or constitutes or will constitute a default under (A) any term
      or provision of the Seller's articles of organization or by-laws, (B) any
      term or provision of any material agreement, contract, instrument or
      indenture to which the Seller is a party or by which it or any of its
      assets is bound or results in the creation or imposition of any lien,
      charge or encumbrance upon any of its property pursuant to the terms of
      any such indenture, mortgage, contract or other instrument, other than
      pursuant to this Agreement, or (C) after giving effect to the consents or
      taking of the actions contemplated in subsection (iii), any law, rule,
      regulation, order, judgment, writ, injunction or decree of any court or
      governmental authority having jurisdiction over the Seller or its assets,
      except where in any of the instances contemplated by clauses (B) or (C)
      above, any conflict, breach or default, or creation or imposition of any
      lien, charge or encumbrance, will not have a material adverse effect on
      the consummation of the transactions contemplated hereby by the Seller or
      its ability to perform its obligations and duties hereunder or result in
      any material adverse change in the business, operations, financial
      condition, properties or assets of the Seller, or in any material
      impairment of the right or ability of the Seller to carry on its business
      substantially as now conducted.

            (v) There are no actions or proceedings against, or investigations
      of, the Seller pending or, to the Seller's knowledge, threatened in
      writing against the Seller before any court, administrative agency or
      other tribunal, the outcome of which could reasonably be expected to
      materially and adversely affect the transfer of the Mortgage Loans to the
      Purchaser or the execution or delivery by, or enforceability against, the
      Seller of this Agreement or have an effect on the financial condition of
      the Seller that would materially and adversely affect the ability of the
      Seller to perform its obligations under this Agreement.

            (vi) On the Closing Date, the sale of the Mortgage Loans pursuant to
      this Agreement will effect a transfer by the Seller of all of its right,
      title and interest in and to the Mortgage Loans to the Purchaser.

            (vii) To the Seller's knowledge, the Seller's Information (as
      defined in that certain indemnification agreement, dated June 1, 2002,
      between the Seller, the Purchaser, the Underwriters and the Initial
      Purchaser (the "Indemnification Agreement")) relating to the Mortgage
      Loans does not contain any untrue statement of a material fact or omit to
      state a material fact necessary to make the statements therein, in the
      light of the circumstances under which they were made, not misleading.
      Notwithstanding anything contained herein to the contrary, this
      subparagraph (vii) shall run exclusively to the benefit of the Purchaser
      and no other party.

            To induce the Purchaser to enter into this Agreement, the Seller
hereby covenants that the foregoing representations and warranties and those set
forth on Exhibit 2 hereto will be true and correct in all material respects on
and as of the Closing Date with the same effect as if made on the Closing Date.

            Each of the representations, warranties and covenants made by the
Seller pursuant to this Section 4(a) shall survive the sale of the Mortgage
Loans and shall continue in full force and effect notwithstanding any
restrictive or qualified endorsement on the Mortgage Notes.

            (b) To induce the Seller to enter into this Agreement, the Purchaser
hereby represents and warrants to the Seller as of the date hereof:

            (i) The Purchaser is a corporation duly organized, validly existing,
      and in good standing under the laws of the State of Delaware with full
      power and authority to carry on its business as presently conducted by it.

            (ii) The Purchaser has full power and authority to acquire the
      Mortgage Loans, to execute and deliver this Agreement and to enter into
      and consummate all transactions contemplated by this Agreement. The
      Purchaser has duly and validly authorized the execution, delivery and
      performance of this Agreement and has duly and validly executed and
      delivered this Agreement. This Agreement, assuming due authorization,
      execution and delivery by the Seller, constitutes the valid and binding
      obligation of the Purchaser, enforceable against it in accordance with its
      terms, except as such enforceability may be limited by bankruptcy,
      insolvency, reorganization, moratorium and other similar laws affecting
      the enforcement of creditors' rights generally and by general principles
      of equity, regardless of whether such enforcement is considered in a
      proceeding in equity or at law.

            (iii) No consent, approval, authorization or order of, registration
      or filing with, or notice to, any governmental authority or court is
      required, under federal or state law, for the execution, delivery and
      performance of or compliance by the Purchaser with this Agreement, or the
      consummation by the Purchaser of any transaction contemplated hereby that
      has not been obtained or made by the Purchaser.

            (iv) Neither the purchase of the Mortgage Loans nor the execution,
      delivery and performance of this Agreement by the Purchaser will violate
      the Purchaser's certificate of incorporation or by-laws or constitute a
      default (or an event that, with notice or lapse of time or both, would
      constitute a default) under, or result in a breach of, any material
      agreement, contract, instrument or indenture to which the Purchaser is a
      party or that may be applicable to the Purchaser or its assets.

            (v) The Purchaser's execution and delivery of this Agreement and its
      performance and compliance with the terms of this Agreement will not
      constitute a violation of, any law, rule, writ, injunction, order or
      decree of any court, or order or regulation of any federal, state or
      municipal government agency having jurisdiction over the Purchaser or its
      assets, which violation could materially and adversely affect the
      condition (financial or otherwise) or the operation of the Purchaser or
      its assets or could materially and adversely affect its ability to perform
      its obligations and duties hereunder.

            (vi) There are no actions or proceedings against, or investigations
      of, the Purchaser pending or, to the Purchaser's knowledge, threatened
      against the Purchaser before any court, administrative agency or other
      tribunal, the outcome of which could reasonably be expected to adversely
      affect the transfer of the Mortgage Loans, the issuance of the
      Certificates, the execution, delivery or enforceability of this Agreement
      or have an effect on the financial condition of the Purchaser that would
      materially and adversely affect the ability of the Purchaser to perform
      its obligation under this Agreement.

            (vii) The Purchaser has not dealt with any broker, investment
      banker, agent or other person, other than the Seller, the Underwriters,
      the Initial Purchaser and their respective affiliates, that may be
      entitled to any commission or compensation in connection with the sale of
      the Mortgage Loans or consummation of any of the transactions contemplated
      hereby.

            To induce the Seller to enter into this Agreement, the Purchaser
hereby covenants that the foregoing representations and warranties will be true
and correct in all material respects on and as of the Closing Date with the same
effect as if made on the Closing Date.

            Each of the representations and warranties made by the Purchaser
pursuant to this Section 4(b) shall survive the purchase of the Mortgage Loans.

            Section 5. Remedies Upon Breach of Representations and Warranties
Made by the Seller.

            (a) It is hereby acknowledged that the Seller shall make for the
benefit of the Trustee on behalf of the holders of the Certificates, whether
directly or by way of the Purchaser's assignment of its rights hereunder to the
Trustee, the representations and warranties set forth on Exhibit 2 hereto (each
as of the date hereof unless otherwise specified).

            (b) It is hereby further acknowledged that if any document required
to be delivered to the Trustee pursuant to Section 2 is not delivered as and
when required, not properly executed or is defective on its face, or if there is
a breach of any of the representations and warranties required to be made by the
Seller regarding the characteristics of the Mortgage Loans and/or the related
Mortgaged Properties as set forth in Exhibit 2 hereto, and in either case such
defect or breach, either (i) materially and adversely affects the interests of
the holders of the Certificates in the related Mortgage Loan, or (ii) both (A)
the document defect or breach materially and adversely affects the value of the
Mortgage Loan and (B) the Mortgage Loan is a Specially Serviced Mortgage Loan or
Rehabilitated Mortgage Loan (such a document defect described in the preceding
clause (i) or (ii), a "Material Document Defect" and such a breach described in
the preceding clause (i) or (ii) a "Material Breach"), the party discovering
such Material Document Defect or Material Breach shall promptly notify, in
writing, the other parties; provided that any breach of the representation and
warranty contained in paragraph (40) of such Exhibit 2 shall constitute a
Material Breach only if such prepayment premium or yield maintenance charge is
not deemed "customary" for commercial mortgage loans as evidenced by (i) an
opinion of tax counsel to such effect or (ii) a determination by the Internal
Revenue Service that such provision is not customary. Promptly (but in any event
within three Business Days) upon becoming aware of any such Material Document
Defect or Material Breach, the Master Servicer shall, and the Special Servicer
may, request that the Seller, not later than 85 days from the Seller's receipt
of the notice of such Material Document Defect or Material Breach, cure such
Material Document Defect or Material Breach, as the case may be, in all material
respects; provided, however, that if such Material Document Defect or Material
Breach, as the case may be, cannot be corrected or cured in all material
respects within such 85-day period, and such Material Document Defect or
Material Breach would not cause the Mortgage Loan to be other than a "qualified
mortgage"(as defined in the Code) but the Seller is diligently attempting to
effect such correction or cure, as certified by the Seller in an Officer's
Certificate delivered to the Trustee, then the cure period will be extended for
an additional 90 days unless, solely in the case of a Material Document Defect,
(x) the Mortgage Loan is then a Specially Serviced Mortgage Loan and a Servicing
Transfer Event has occurred as a result of a monetary default or as described in
clause (ii) or clause (v) of the definition of "Servicing Transfer Event" in the
Pooling and Servicing Agreement and (y) the Material Document Defect was
identified in a certification delivered to the Seller by the Trustee pursuant to
Section 2.2 of the Pooling and Servicing Agreement not less than 85 days prior
to the delivery of the notice of such Material Document Defect. The parties
acknowledge that neither delivery of a certification or schedule of exceptions
to the Seller pursuant to Section 2.2 of the Pooling and Servicing Agreement or
otherwise nor possession of such certification or schedule by the Seller shall,
in and of itself, constitute delivery of notice of any Material Document Defect
or knowledge or awareness by the Seller of any Material Document Defect listed
therein.

            The Seller hereby covenants and agrees that, if any such Material
Document Defect or Material Breach cannot be corrected or cured within the above
cure periods, the Seller shall, on or before the termination of such cure
periods, either (i) repurchase the affected Mortgage Loan or REO Mortgage Loan
from the Purchaser or its assignee at the Purchase Price as defined in the
Pooling and Servicing Agreement, or (ii) if within the two-year period
commencing on the Closing Date, at its option replace, without recourse, any
Mortgage Loan or REO Mortgage Loan to which such defect relates with a
Qualifying Substitute Mortgage Loan. If such Material Document Defect or
Material Breach would cause the Mortgage Loan to be other than a "qualified
mortgage" (as defined in the Code), then notwithstanding the previous sentence,
such repurchase or substitution must occur within 85 days from the earlier of
the date the Seller discovered or was notified of the defect. The Seller agrees
that any substitution shall be completed in accordance with the terms and
conditions of the Pooling and Servicing Agreement.

            If (i) a Mortgage Loan is to be repurchased or replaced as
contemplated above (a "Defective Mortgage Loan"), (ii) such Defective Mortgage
Loan is cross-collateralized and cross-defaulted with one or more other Mortgage
Loans ("Crossed Mortgage Loans") and (iii) the applicable document defect or
breach does not constitute a Material Document Defect or Material Breach, as the
case may be, as to such Crossed Mortgage Loans (without regard to this
paragraph), then the applicable document defect or breach (as the case may be)
shall be deemed to constitute a Material Document Defect or Material Breach, as
the case may be, as to each such Crossed Mortgage Loan for purposes of the above
provisions, and the Seller shall be obligated to repurchase or replace each such
Crossed Mortgage Loan in accordance with the provisions above, unless, in the
case of such breach or document defect, both of the following conditions would
be satisfied if the Seller were to repurchase or replace only those Mortgage
Loans as to which a Material Breach or Material Document Defect had occurred
without regard to this paragraph (the "Affected Loan(s)"): (1) the debt service
coverage ratio for all such other Mortgage Loans (excluding the Affected
Loan(s)) for the four calendar quarters immediately preceding the repurchase or
replacement is not less than 0.10x below the lesser of (x) the debt service
coverage ratio for all such Mortgage Loans (including the Affected Loans(s)) set
forth in Appendix II to the Final Prospectus Supplement and (y) the debt service
coverage ratio for all such Crossed Mortgage Loans (including the Affected
Loan(s)) for the four preceding calendar quarters preceding the repurchase or
replacement, and (2) the loan-to-value ratio for all such Crossed Mortgage Loans
(excluding the Affected Loan(s)) is not greater than 10% more than the greater
of (x) the loan-to-value ratio, expressed as a whole number (taken to one
decimal place), for all such Crossed Mortgage Loans (including the Affected
Loan(s)) set forth in Appendix II to the Final Prospectus Supplement and (y) the
loan-to-value ratio for all such Crossed Mortgage Loans (including the Affected
Loans(s)), at the time of repurchase or replacement. The determination of the
Master Servicer as to whether the conditions set forth above have been satisfied
shall be conclusive and binding in the absence of manifest error. The Master
Servicer will be entitled to cause to be delivered, or direct the Seller to (in
which case the Seller shall) cause to be delivered to the Master Servicer, an
Appraisal of any or all of the related Mortgaged Properties for purposes of
determining whether the condition set forth in clause (2) above has been
satisfied, in each case at the expense of the Seller if the scope and cost of
the Appraisal is approved by the Seller (such approval not to be unreasonably
withheld).

            With respect to any Defective Mortgage Loan, to the extent that the
Seller is required to repurchase or substitute for such Defective Mortgage Loan
(each, a "Repurchased Loan") in the manner prescribed above while the Trustee
(as assignee of the Purchaser) continues to hold any Crossed Mortgage Loan, the
Seller and the Purchaser hereby agree to forebear from enforcing any remedies
against the other's Primary Collateral but may exercise remedies against the
Primary Collateral securing their respective Mortgage Loans, including with
respect to the Trustee, the Primary Collateral securing the Mortgage Loans still
held by the Trustee, so long as such exercise does not impair the ability of the
other party to exercise its remedies against its Primary Collateral. If the
exercise of remedies by one party would impair the ability of the other party to
exercise its remedies with respect to the Primary Collateral securing the
Mortgage Loan or Mortgage Loans held by such party, then both parties shall
forbear from exercising such remedies until the loan documents evidencing and
securing the relevant Mortgage Loans can be modified in a manner that complies
with the Pooling and Servicing Agreement to remove the threat of impairment as a
result of the exercise of remedies. Any reserve or other cash collateral or
letters of credit securing the Crossed Mortgage Loans shall be allocated between
such Mortgage Loans in accordance with the Mortgage Loan documents, or otherwise
on a pro rata basis based upon their outstanding Principal Balances. All other
terms of the Mortgage Loans shall remain in full force and effect, without any
modification thereof. The Mortgagors set forth on Schedule B hereto are intended
third-party beneficiaries of the provisions set forth in this paragraph and the
preceding paragraph. The provisions of this paragraph and the preceding
paragraph may not be modified with respect to any Mortgage Loan without the
related Mortgagor's consent.

            Any of the following document defects shall be conclusively presumed
materially and adversely to affect the interests of Certificateholders in a
Mortgage Loan and be a Material Document Defect: (a) the absence from the
Mortgage File of the original signed Mortgage Note, unless the Mortgage File
contains a signed lost note affidavit and indemnity that appears to be regular
on its face; (b) the absence from the Mortgage File of the original signed
Mortgage that appears to be regular on its face, unless there is included in the
Mortgage File a certified copy of the Mortgage by the local authority with which
the Mortgage was recorded; or (c) the absence from the Mortgage File of the item
called for by paragraph (h) of the definition of Mortgage File. If any of the
foregoing Material Document Defects is discovered by the Custodian (or the
Trustee if there is no Custodian), the Trustee (or as set forth in Section
2.3(a) of the Pooling and Servicing Agreement, the Master Servicer) will take
the steps described elsewhere in this Section, including the giving of notices
to the Rating Agencies and the parties hereto and making demand upon the Seller
for the cure of the Material Document Defect or repurchase or replacement of the
related Mortgage Loan.

            The Seller shall be notified promptly and in writing by (i) the
Trustee of any notice that it receives that an Option Holder intends to exercise
its Option to purchase the Mortgage Loan in accordance with and as described in
Section 9.36 of the Pooling and Servicing Agreement and (ii) the Special
Servicer of any offer that it receives to purchase the applicable REO Property,
each in connection with such liquidation. Upon the receipt of such notice by the
Seller, the Seller shall then have the right to purchase the related Mortgage
Loan or REO Property, as applicable, from the Trust at a purchase price equal
to, in the case of clause (i) of the immediately preceding sentence, the Option
Purchase Price or, in the case of clause (ii) of the immediately preceding
sentence, the amount of such offer. Notwithstanding anything to the contrary
contained in this Agreement or in the Pooling and Servicing Agreement, the right
of any Option Holder to purchase such Mortgage Loan shall be subject and
subordinate to the Seller's right to purchase such Mortgage Loan as described in
the immediately preceding sentence. The Seller shall have five (5) Business Days
to notify the Trustee or Special Servicer, as applicable, of its intent to so
purchase the Mortgage Loan or related REO Property from the date that it was
notified of such intention to exercise such Option or of such offer. The Special
Servicer shall be obligated to provide the Seller with any appraisal or other
third party reports relating to the Mortgaged Property within its possession to
enable the Seller to evaluate the Mortgage Loan or REO Property. Any sale of the
Mortgage Loan, or foreclosure upon such Mortgage Loan and sale of the REO
Property, to a Person other than the Seller shall be without (i) recourse of any
kind (either express or implied) by such Person against the Seller and (ii)
representation or warranty of any kind (either express or implied) by the Seller
to or for the benefit of such Person.

            The obligations of the Seller set forth in this Section 5(b) to cure
a Material Document Defect or a Material Breach or repurchase or replace a
defective Mortgage Loan constitute the sole remedies of the Purchaser or its
assignees with respect to a Material Document Defect or Material Breach in
respect of an outstanding Mortgage Loan; provided, that this limitation shall
not in any way limit the Purchaser's rights or remedies upon breach of any other
representation or warranty or covenant by the Seller set forth in this Agreement
(other than those set forth in Exhibit 2).

            Notwithstanding the foregoing, in the event that there is a breach
of the representation and warranty set forth in paragraph 43 of Exhibit 2
attached hereto, and as a result the payments, by a Mortgagor, of reasonable
costs and expenses associated with the defeasance or assumption of a Mortgage
Loan are insufficient causing the Trust to incur any Additional Trust Expense,
the Seller hereby covenants and agrees to reimburse the Trust in an amount
sufficient to avoid such Additional Trust Expense. The parties hereto
acknowledge that such reimbursement shall be the Seller's sole obligation with
respect to the breach discussed in the previous sentence.

            (c) The Pooling and Servicing Agreement shall provide that the
Trustee (or the Master Servicer or the Special Servicer on its behalf) shall
give written notice within three Business Days to the Seller of its discovery of
any Material Document Defect or Material Breach and prompt written notice to the
Seller in the event that any Mortgage Loan becomes a Specially Serviced Mortgage
Loan (as defined in the Pooling and Servicing Agreement).

            (d) If the Seller repurchases any Mortgage Loan pursuant to this
Section 5, the Purchaser or its assignee, following receipt by the Trustee of
the Purchase Price therefor, promptly shall deliver or cause to be delivered to
the Seller all Mortgage Loan documents with respect to such Mortgage Loan, and
each document that constitutes a part of the Mortgage File that was endorsed or
assigned to the Trustee shall be endorsed and assigned to the Seller in the same
manner such that the Seller shall be vested with legal and beneficial title to
such Mortgage Loan, in each case without recourse, including any property
acquired in respect of such Mortgage Loan or proceeds of any insurance policies
with respect thereto.

            Section 6. Closing. The closing of the sale of the Mortgage Loans
shall be held at the offices of Cadwalader, Wickersham & Taft, 100 Maiden Lane,
New York, NY 10038 at 9:00 a.m., New York time, on the Closing Date.

            The closing shall be subject to each of the following conditions:

            (a) All of the representations and warranties of the Seller and the
Purchaser specified in Section 4 of this Agreement (including, without
limitation, the representations and warranties set forth on Exhibit 2 to this
Agreement) shall be true and correct as of the Closing Date (to the extent of
the standard, if any, set forth in each representation and warranty).

            (b) All Closing Documents specified in Section 7 of this Agreement,
in such forms as are agreed upon and reasonably acceptable to the Seller or the
Purchaser, as applicable, shall be duly executed and delivered by all
signatories as required pursuant to the respective terms thereof.

            (c) The Seller shall have delivered and released to the Purchaser or
its designee all documents required to be delivered to the Purchaser as of the
Closing Date pursuant to Section 2 of this Agreement.

            (d) The result of the examination and audit performed by the
Purchaser and its affiliates pursuant to Section 3 hereof shall be satisfactory
to the Purchaser and its affiliates in their sole determination and the parties
shall have agreed to the form and contents of the Seller's Information to be
disclosed in the Memorandum and the Prospectus Supplement.

            (e) All other terms and conditions of this Agreement required to be
complied with on or before the Closing Date shall have been complied with, and
the Seller and the Purchaser shall have the ability to comply with all terms and
conditions and perform all duties and obligations required to be complied with
or performed after the Closing Date.

            (f) The Seller shall have paid all fees and expenses payable by it
to the Purchaser pursuant to Section 8 hereof.

            (g) The Certificates to be so rated shall have been assigned ratings
by each Rating Agency no lower than the ratings specified for each such Class in
the Memorandum and the Prospectus Supplement.

            (h) No Underwriter shall have terminated the Underwriting Agreement
and the Initial Purchaser shall not have terminated the Certificate Purchase
Agreement, and neither the Underwriters nor the Initial Purchaser shall have
suspended, delayed or otherwise cancelled the Closing Date.

            (i) The Seller shall have received the purchase price for the
Mortgage Loans pursuant to Section 1 hereof.

            (j) The Master Servicer and the Seller shall have entered into a
primary servicing agreement (such agreement, the "Primary Servicing Agreement").

            Each party agrees to use its best efforts to perform its respective
obligations hereunder in a manner that will enable the Purchaser to purchase the
Mortgage Loans on the Closing Date.

            Section 7. Closing Documents. The Closing Documents shall consist of
the following:

            (a) This Agreement duly executed by the Purchaser and the Seller.

            (b) A certificate of the Seller, executed by a duly authorized
officer of the Seller and dated the Closing Date, and upon which the Purchaser
and its successors and assigns may rely, to the effect that: (i) the
representations and warranties of the Seller in this Agreement are true and
correct in all material respects on and as of the Closing Date with the same
force and effect as if made on the Closing Date, provided that any
representations and warranties made as of a specified date shall be true and
correct as of such specified date; and (ii) the Seller has complied with all
agreements and satisfied all conditions on its part to be performed or satisfied
on or prior to the Closing Date.

            (c) True, complete and correct copies of the Seller's articles of
organization and by-laws.

            (d) A certificate of existence for the Seller from the Secretary of
State of Delaware dated not earlier than 30 days prior to the Closing Date.

            (e) A certificate of the Secretary or Assistant Secretary of the
Seller, dated the Closing Date, and upon which the Purchaser may rely, to the
effect that each individual who, as an officer or representative of the Seller,
signed this Agreement or any other document or certificate delivered on or
before the Closing Date in connection with the transactions contemplated herein,
was at the respective times of such signing and delivery, and is as of the
Closing Date, duly elected or appointed, qualified and acting as such officer or
representative, and the signatures of such persons appearing on such documents
and certificates are their genuine signatures.

            (f) An opinion of counsel (which, other than as to the opinion
described in paragraph (vi) below, may be in-house counsel) to the Seller, dated
the Closing Date, substantially to the effect of the following (with such
changes and modifications as the Purchaser may approve and subject to such
counsel's reasonable qualifications):

            (i) The Seller is validly existing under Delaware law and has full
      corporate power and authority to enter into and perform its obligations
      under this Agreement.

            (ii) This Agreement has been duly authorized, executed and delivered
      by the Seller.

            (iii) No consent, approval, authorization or order of any federal
      court or governmental agency or body is required for the consummation by
      the Seller of the transactions contemplated by the terms of this Agreement
      except any approvals as have been obtained.

            (iv) Neither the execution, delivery or performance of this
      Agreement by the Seller, nor the consummation by the Seller of any of the
      transactions contemplated by the terms of this Agreement (A) conflicts
      with or results in a breach or violation of, or constitutes a default
      under, the organizational documents of the Seller, (B) to the knowledge of
      such counsel, constitutes a default under any term or provision of any
      material agreement, contract, instrument or indenture, to which the Seller
      is a party or by which it or any of its assets is bound or results in the
      creation or imposition of any lien, charge or encumbrance upon any of its
      property pursuant to the terms of any such indenture, mortgage, contract
      or other instrument, other than pursuant to this Agreement, or (C)
      conflicts with or results in a breach or violation of any law, rule,
      regulation, order, judgment, writ, injunction or decree of any court or
      governmental authority having jurisdiction over the Seller or its assets,
      except where in any of the instances contemplated by clauses (B) or (C)
      above, any conflict, breach or default, or creation or imposition of any
      lien, charge or encumbrance, will not have a material adverse effect on
      the consummation of the transactions contemplated hereby by the Seller or
      materially and adversely affect its ability to perform its obligations and
      duties hereunder or result in any material adverse change in the business,
      operations, financial condition, properties or assets of the Seller, or in
      any material impairment of the right or ability of the Seller to carry on
      its business substantially as now conducted.

            (v) To his or her knowledge, there are no legal or governmental
      actions, investigations or proceedings pending to which the Seller is a
      party, or threatened against the Seller, (a) asserting the invalidity of
      this Agreement or (b) which materially and adversely affect the
      performance by the Seller of its obligations under, or the validity or
      enforceability of, this Agreement.

            (vi) This Agreement is a valid, legal and binding agreement of the
      Seller, enforceable against the Seller in accordance with its terms,
      except as such enforcement may be limited by (1) laws relating to
      bankruptcy, insolvency, reorganization, receivership or moratorium, (2)
      other laws relating to or affecting the rights of creditors generally, (3)
      general equity principles (regardless of whether such enforcement is
      considered in a proceeding in equity or at law) or (4) public policy
      considerations underlying the securities laws, to the extent that such
      public policy considerations limit the enforceability of the provisions of
      this Agreement that purport to provide indemnification from liabilities
      under applicable securities laws.

            Such opinion may express its reliance as to factual matters on,
among other things specified in such opinion, the representations and warranties
made by, and on certificates or other documents furnished by officers of, the
parties to this Agreement.

            In rendering the opinions expressed above, such counsel may limit
such opinions to matters governed by the federal laws of the United States and
the corporate laws of the State of Delaware and the State of New York, as
applicable, assuming (other than with respect to clause (vi)) that the laws of
such States are identical to the laws of the Commonwealth of Massachusetts.

            (g) Such other opinions of counsel as any Rating Agency may request
in connection with the sale of the Mortgage Loans by the Seller to the Purchaser
or the Seller's execution and delivery of, or performance under, this Agreement.

            (h) A letter from Deloitte & Touche, certified public accountants,
dated the date hereof, to the effect that they have performed certain specified
procedures as a result of which they determined that certain information of an
accounting, financial or statistical nature set forth in the Memorandum and the
Prospectus Supplement agrees with the records of the Seller.

            (i) Such further certificates, opinions and documents as the
Purchaser may reasonably request.

            (j) An officer's certificate of the Purchaser, dated as of the
Closing Date, with the resolutions of the Purchaser authorizing the transactions
described herein attached thereto, together with certified copies of the
charter, by-laws and certificate of good standing of the Purchaser dated not
earlier than 30 days prior to the Closing Date.

            (k) Such other certificates of the Purchaser's officers or others
and such other documents to evidence fulfillment of the conditions set forth in
this Agreement as the Seller or its counsel may reasonably request.

            (l) An executed Bill of Sale in the form attached hereto as Exhibit
4.

            Section 8. Costs. The Seller shall pay the Purchaser the costs and
expenses as agreed upon by the Seller and the Purchaser in a separate Letter of
Understanding dated June 1, 2002.

            Section 9. Notices. All communications provided for or permitted
hereunder shall be in writing and shall be deemed to have been duly given if (a)
personally delivered, (b) mailed by registered or certified mail, postage
prepaid and received by the addressee, (c) sent by express courier delivery
service and received by the addressee, or (d) transmitted by telex or facsimile
transmission (or any other type of electronic transmission agreed upon by the
parties) and confirmed by a writing delivered by any of the means described in
(a), (b) or (c), if (i) to the Purchaser, addressed to Morgan Stanley Dean
Witter Capital I Inc., 1585 Broadway, New York, New York 10016, Attention:
Cecilia Tarrant, with a copy to Michelle Wilke (or such other address as may
hereafter be furnished in writing by the Purchaser), or (ii) if to the Seller,
addressed to the Seller at John Hancock Real Estate Finance, Inc., 200 Clarendon
Street, Boston, Massachusetts 02117, Attention: M.W. Sam Davis, Senior Vice
President (or to such other address as the Seller may designate in writing) with
copies to the attention of Michael M. Epstein, Esq. and Nathaniel I. Margolis,
Esq.

            Section 10. Severability of Provisions. Any part, provision,
representation, warranty or covenant of this Agreement that is prohibited or
that is held to be void or unenforceable shall be ineffective to the extent of
such prohibition or unenforceability without invalidating the remaining
provisions hereof. Any part, provision, representation, warranty or covenant of
this Agreement that is prohibited or unenforceable or is held to be void or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective
to the extent of such prohibition or unenforceability without invalidating the
remaining provisions hereof, and any such prohibition or unenforceability in any
jurisdiction shall not invalidate or render unenforceable such provision in any
other jurisdiction. To the extent permitted by applicable law, the parties
hereto waive any provision of law which prohibits or renders void or
unenforceable any provision hereof.

            Section 11. Further Assurances. The Seller and the Purchaser each
agree to execute and deliver such instruments and take such actions as the other
may, from time to time, reasonably request in order to effectuate the purpose
and to carry out the terms of this Agreement and the Pooling and Servicing
Agreement.

            Section 12. Survival. Each party hereto agrees that the
representations, warranties and agreements made by it herein and in any
certificate or other instrument delivered pursuant hereto shall be deemed to be
relied upon by the other party, notwithstanding any investigation heretofore or
hereafter made by the other party or on its behalf, and that the
representations, warranties and agreements made by such other party herein or in
any such certificate or other instrument shall survive the delivery of and
payment for the Mortgage Loans and shall continue in full force and effect,
notwithstanding any restrictive or qualified endorsement on the Mortgage Notes
and notwithstanding subsequent termination of this Agreement.

            SECTION 13. GOVERNING LAW. THIS AGREEMENT AND THE RIGHTS, DUTIES,
OBLIGATIONS AND RESPONSIBILITIES OF THE PARTIES HERETO SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS AND DECISIONS OF THE STATE OF NEW
YORK. THE PARTIES HERETO INTEND THAT THE PROVISIONS OF SECTION 5-1401 OF THE NEW
YORK GENERAL OBLIGATIONS LAW SHALL APPLY TO THIS AGREEMENT.

            Section 14. Benefits of Mortgage Loan Purchase Agreement. This
Agreement shall inure to the benefit of and shall be binding upon the Seller,
the Purchaser and their respective successors, legal representatives, and
permitted assigns, and nothing expressed or mentioned in this Agreement is
intended or shall be construed to give any other person any legal or equitable
right, remedy or claim under or in respect of this Agreement, or any provisions
herein contained, this Agreement and all conditions and provisions hereof being
intended to be and being for the sole and exclusive benefit of such persons and
for the benefit of no other person except that the rights and obligations of the
Purchaser pursuant to Sections 2, 4(a) (other than clause (vii)), 5, 11 and 12
hereof may be assigned to the Trustee as may be required to effect the purposes
of the Pooling and Servicing Agreement and, upon such assignment, the Trustee
shall succeed to the rights and obligations hereunder of the Purchaser. No owner
of a Certificate issued pursuant to the Pooling and Servicing Agreement shall be
deemed a successor or permitted assigns because of such ownership.

            Section 15. Miscellaneous. This Agreement may be executed in two or
more counterparts, each of which when so executed and delivered shall be an
original, but all of which together shall constitute one and the same
instrument. Neither this Agreement nor any term hereof may be changed, waived,
discharged or terminated orally, but only by an instrument in writing signed by
the party against whom enforcement of the change, waiver, discharge or
termination is sought. The headings in this Agreement are for purposes of
reference only and shall not limit or otherwise affect the meaning hereof. The
rights and obligations of the Seller under this Agreement shall not be assigned
by the Seller without the prior written consent of the Purchaser, except that
any person into which the Seller may be merged or consolidated, or any
corporation resulting from any merger, conversion or consolidation to which the
Seller is a party, or any person succeeding to the entire business of the Seller
shall be the successor to the Seller hereunder.

            Section 16. Entire Agreement. This Agreement contains the entire
agreement and understanding between the parties hereto with respect to the
subject matter hereof (other than the Letter of Understanding, the
Indemnification Agreement and the Pooling and Servicing Agreement), and
supersedes all prior and contemporaneous agreements, understandings, inducements
and conditions, express or implied, oral or written, of any nature whatsoever
with respect to the subject matter hereof. The express terms hereof control and
supersede any course of performance or usage of the trade inconsistent with any
of the terms hereof.

<PAGE>

            IN WITNESS WHEREOF, the Purchaser and the Seller have caused this
Agreement to be executed by their respective duly authorized officers as of the
date first above written.

                                        JOHN HANCOCK REAL ESTATE FINANCE, INC.

                                        By:_____________________________________
                                           Name:
                                           Title:

                                        MORGAN STANLEY DEAN WITTER
                                           CAPITAL I INC.

                                        By:_____________________________________
                                           Name:
                                           Title:

<PAGE>

                                    EXHIBIT 1

                             MORTGAGE LOAN SCHEDULE

MSDWCI 2002-IQ2
JH

<TABLE>
<CAPTION>
LOAN POOL      MORTGAGE LOAN
NO             SELLER                 PROPERTY NAME                         CITY               STATE   ZIP CODE
------------   --------------------   -------------                         ----               -----   --------
<C>            <C>                    <C>                                   <C>                <C>      <C>
27             JHREF                  1750 K Street, NW                     Washington         DC       20006
35             JHREF                  BJ's Wholesale Club                   Paramus            NJ       07652
43             JHREF                  Preston Center Plaza                  Dallas             TX       75225
49             JHREF                  Cooper Standard Automotive Building   Novi               MI       48375
56             JHREF                  Strouds Building                      City of Industry   CA       91789
57             JHREF                  Scottsdale Executive Villas           Scottsdale         AZ       85251
58             JHREF                  BJ's Wholesale Club                   Orlando            FL       32825
67             JHREF                  Lost Dutchman RV Park                 Apache Junction    AZ       85220
88             JHREF                  Speedway Square Shopping Center       Tucson             AZ       85712
89             JHREF                  230 Newport Center                    Newport Beach      CA       92660
94             JHREF                  Best Western Beach Resort Hotel       Fort Myers Beach   FL       33931
101            JHREF                  Staples/Comp USA                      Brighton           MA       02135
102            JHREF                  Walgreen's Plaza                      Arlington          MA       02174
108            JHREF                  Northern Business Center              Phoenix            AZ       85021
113            JHREF                  Northpoint Trade Center, Phase II     Fort Worth         TX       76106

<CAPTION>
LOAN POOL                                                                      SUB-SERVICING
NO             ORIGINAL BALANCE   CURRENT BALANCE   MASTER FEE   PRIMARY FEE             FEE
------------   ----------------   ---------------   ----------   -----------   -------------
<C>                 <C>               <C>                 <C>           <C>             <C>
27                  $26,000,000       $25,957,671         5.00          7.43            0.00
35                  $14,700,000       $14,639,046         5.00          7.43            0.00
43                   $9,200,000        $9,200,000         5.00          7.43            0.00
49                   $8,200,000        $8,136,863         5.00          7.43            0.00
56                   $7,628,750        $7,628,750         5.00          7.43            0.00
57                   $7,600,000        $7,584,986         5.00          7.43            0.00
58                   $7,600,000        $7,477,667         5.00          7.43            0.00
67                   $6,000,000        $5,764,598         5.00          7.43            0.00
88                   $4,125,000        $4,119,744         5.00          7.43            0.00
89                   $4,075,000        $4,075,000         5.00          7.43            0.00
94                   $4,100,000        $3,682,237         5.00          7.43            0.00
101                  $3,510,000        $3,187,163         5.00          7.43            0.00
102                  $3,415,000        $3,100,900         5.00          7.43            0.00
108                  $2,800,000        $2,796,248         5.00          7.43            0.00
113                  $2,550,000        $2,547,654         5.00          7.43            0.00
</TABLE>

<PAGE>

                                    EXHIBIT 2

                    REPRESENTATIONS AND WARRANTIES REGARDING
                            INDIVIDUAL MORTGAGE LOANS

            1. Mortgage Loan Schedule. The information set forth in the Mortgage
Loan Schedule is complete, true and correct in all material respects as of the
date of this Agreement and as of the Cut-Off Date.

            2. Whole Loan; Ownership of Mortgage Loans. Each Mortgage Loan is a
whole loan and not a participation interest in a mortgage loan. Immediately
prior to the transfer to the Purchaser of the Mortgage Loans, the Seller had
good title to, and was the sole owner of, each Mortgage Loan. The Seller has
full right, power and authority to transfer and assign each of the Mortgage
Loans to or at the direction of the Purchaser and has validly and effectively
conveyed (or caused to be conveyed) to the Purchaser or its designee all of the
Seller's legal and beneficial interest in and to the Mortgage Loans free and
clear of any and all pledges, liens, charges, security interests and/or other
encumbrances. The sale of the Mortgage Loans to the Purchaser or its designee
does not require the Seller to obtain any governmental or regulatory approval or
consent that has not been obtained.

            3. Payment Record. No scheduled payment of principal and interest
under any Mortgage Loan was 30 days or more past due as of the Cut-Off Date, and
no Mortgage Loan was 30 days or more delinquent in the twelve-month period
immediately preceding the Cut-Off Date.

            4. Lien; Valid Assignment. The Mortgage related to and delivered in
connection with each Mortgage Loan constitutes a valid and, subject to the
exceptions set forth in paragraph 13 below, enforceable first priority lien upon
the related Mortgaged Property, prior to all other liens and encumbrances,
except for (a) the lien for current real estate taxes and assessments not yet
due and payable, (b) covenants, conditions and restrictions, rights of way,
easements and other matters that are of public record and/or are referred to in
the related lender's title insurance policy, (c) exceptions and exclusions
specifically referred to in such lender's title insurance policy, (d) other
matters to which like properties are commonly subject, none of which matters
referred to in clauses (b), (c) or (d), individually or in the aggregate,
materially interferes with the security intended to be provided by such
Mortgage, the marketability or current use of the Mortgaged Property or the
current ability of the Mortgaged Property to generate operating income
sufficient to service the Mortgage Loan debt and (e) if such Mortgage Loan is
cross-collateralized with any other Mortgage Loan, the lien of the Mortgage for
such other Mortgage Loan (the foregoing items (a) through (e) being herein
referred to as the "Permitted Encumbrances"). The related assignment of such
Mortgage executed and delivered in favor of the Trustee is in recordable form
and constitutes a legal, valid and binding assignment, sufficient to convey to
the assignee named therein all of the assignor's right, title and interest in,
to and under such Mortgage. Such Mortgage, together with any separate security
agreements, chattel mortgages or equivalent instruments, establishes and creates
a valid and, subject to the exceptions set forth in paragraph 13 below,
enforceable security interest in favor of the holder thereof in all of the
related Mortgagor's personal property used in, and reasonably necessary to
operate, the related Mortgaged Property. In the case of a Mortgaged Property
operated as a hotel or an assisted living facility, the Mortgagor's personal
property includes all personal property that a prudent mortgage lender making a
similar Mortgage Loan would deem reasonably necessary to operate the related
Mortgaged Property as it is currently being operated. A Uniform Commercial Code
financing statement has been filed and/or recorded in all places necessary to
perfect a valid security interest in such personal property, to the extent a
security interest may be so created therein, and such security interest is a
first priority security interest, subject to any prior purchase money security
interest in such personal property and any personal property leases applicable
to such personal property. Notwithstanding the foregoing, no representation is
made as to the perfection of any security interest in rents or other personal
property to the extent that possession or control of such items or actions other
than the filing of Uniform Commercial Code financing statements are required in
order to effect such perfection.

            5. Assignment of Leases and Rents. The Assignment of Leases related
to and delivered in connection with each Mortgage Loan establishes and creates a
valid, subsisting and, subject to the exceptions set forth in paragraph 13
below, enforceable first priority lien and first priority security interest in
the related Mortgagor's interest in all leases, sub-leases, licenses or other
agreements pursuant to which any person is entitled to occupy, use or possess
all or any portion of the real property subject to the related Mortgage, and
each assignor thereunder has the full right to assign the same. The related
assignment of any Assignment of Leases not included in a Mortgage has been
executed and delivered in favor of the Trustee and is in recordable form and
constitutes a legal, valid and binding assignment, sufficient to convey to the
assignee named therein all of the assignor's right, title and interest in, to
and under such Assignment of Leases.

            6. Mortgage Status; Waivers and Modifications. No Mortgage has been
satisfied, cancelled, rescinded or subordinated in whole or in part, and the
related Mortgaged Property has not been released from the lien of such Mortgage,
in whole or in part (except for partial reconveyances of real property that are
set forth on Schedule A to Exhibit 2), nor has any instrument been executed that
would effect any such satisfaction, cancellation, subordination, rescission or
release, in any manner that, in each case, materially adversely affects the
value of the related Mortgaged Property. None of the terms of any Mortgage Note,
Mortgage or Assignment of Leases has been impaired, waived, altered or modified
in any respect, except by written instruments, all of which are included in the
related Mortgage File.

            7. Condition of Property; Condemnation. (i) With respect to the
Mortgaged Properties securing the Mortgage Loans that were the subject of an
engineering report within 18 months prior to the Cut-Off Date as set forth on
Schedule A to this Exhibit 2, each Mortgaged Property is, to the Seller's
knowledge, free and clear of any damage (or adequate reserves therefor have been
established) that would materially and adversely affect its value as security
for the related Mortgage Loan, and (ii) with respect to the Mortgaged Properties
securing the Mortgage Loans that were not the subject of an engineering report
within 18 months prior to the Cut-Off Date as set forth on Schedule A to this
Exhibit 2, each Mortgaged Property is in good repair and condition and all
building systems contained therein are in good working order (or adequate
reserves therefor have been established) and each Mortgaged Property is free of
structural defects, in each case, that would materially and adversely affect its
value as security for the related Mortgage Loan as of the date hereof. The
Seller has received no notice of the commencement of any proceeding for the
condemnation of all or any material portion of any Mortgaged Property. To the
Seller's knowledge (based on surveys and/or title insurance obtained in
connection with the origination of the Mortgage Loans), as of the date of the
origination of each Mortgage Loan, all of the material improvements on the
related Mortgaged Property that were considered in determining the appraised
value of the Mortgaged Property lay wholly within the boundaries and building
restriction lines of such property, except for encroachments that are insured
against by the lender's title insurance policy referred to herein or that do not
materially and adversely affect the value or marketability of such Mortgaged
Property, and no improvements on adjoining properties materially encroached upon
such Mortgaged Property so as to materially and adversely affect the value or
marketability of such Mortgaged Property, except those encroachments that are
insured against by the Title Policy referred to herein.

            8. Title Insurance. Each Mortgaged Property is covered by an
American Land Title Association (or an equivalent form of) lender's title
insurance policy or a marked-up title insurance commitment (on which the
required premium has been paid) which evidences such title insurance policy (the
"Title Policy") in the original principal amount of the related Mortgage Loan
after all advances of principal. Each Title Policy insures that the related
Mortgage is a valid first priority lien on such Mortgaged Property, subject only
to Permitted Encumbrances. Each Title Policy (or, if it has yet to be issued,
the coverage to be provided thereby) is in full force and effect, all premiums
thereon have been paid and no material claims have been made thereunder and no
claims have been paid thereunder. No holder of the related Mortgage has done, by
act or omission, anything that would materially impair the coverage under such
Title Policy. Immediately following the transfer and assignment of the related
Mortgage Loan to the Trustee, such Title Policy (or, if it has yet to be issued,
the coverage to be provided thereby) will inure to the benefit of the Trustee
without the consent of or notice to the insurer. To the Seller's knowledge, the
insurer issuing such Title Policy is qualified to do business in the
jurisdiction in which the related Mortgaged Property is located.

            9. No Holdbacks. The proceeds of each Mortgage Loan have been fully
disbursed and there is no obligation for future advances with respect thereto.
With respect to each Mortgage Loan, any and all requirements as to completion of
any on-site or off-site improvement and as to disbursements of any funds
escrowed for such purpose that were to have been complied with on or before the
Closing Date have been complied with, or any such funds so escrowed have not
been released.

            10. Mortgage Provisions. The Mortgage Note or Mortgage for each
Mortgage Loan, together with applicable state law, contains customary and
enforceable provisions (subject to the exceptions set forth in paragraph 13)
such as to render the rights and remedies of the holder thereof adequate for the
practical realization against the related Mortgaged Property of the principal
benefits of the security intended to be provided thereby.

            11. Trustee under Deed of Trust. If any Mortgage is a deed of trust,
(1) a trustee, duly qualified under applicable law to serve as such, is properly
designated and serving under such Mortgage, and (2) no fees or expenses are
payable to such trustee by the Seller, the Purchaser or any transferee thereof
except in connection with a trustee's sale after default by the related
Mortgagor or in connection with any full or partial release of the related
Mortgaged Property or related security for the related Mortgage Loan.

            12. Environmental Conditions.

            (i) With respect to the Mortgaged Properties securing the Mortgage
      Loans that were the subject of an environmental site assessment within 18
      months prior to the Cut-Off Date as set forth on Schedule A to this
      Exhibit 2, an environmental site assessment, or an update of a previous
      such report, was performed with respect to each Mortgaged Property in
      connection with the origination or the sale of the related Mortgage Loan,
      a report of each such assessment (or the most recent assessment with
      respect to each Mortgaged Property) (an "Environmental Report") has been
      delivered to the Purchaser, and the Seller has no knowledge of any
      material and adverse environmental condition or circumstance affecting any
      Mortgaged Property that was not disclosed in such report. Each Mortgage
      requires the related Mortgagor to comply with all applicable federal,
      state and local environmental laws and regulations. Where such assessment
      disclosed the existence of a material and adverse environmental condition
      or circumstance affecting any Mortgaged Property, (i) a party not related
      to the Mortgagor was identified as the responsible party for such
      condition or circumstance or (ii) environmental insurance covering such
      condition was obtained or must be maintained until the condition is
      remediated or (iii) the related Mortgagor was required either to provide
      additional security that was deemed to be sufficient by the originator in
      light of the circumstances and/or to establish an operations and
      maintenance plan. In the case of each Mortgage Loan set forth on Schedule
      A to this Exhibit 2, (i) such Mortgage Loan is the subject of a Secured
      Creditor Impaired Property Policy, issued by the issuer set forth on
      Schedule A (the "Policy Issuer") and effective as of the date thereof (the
      "Environmental Insurance Policy"), (ii) the Environmental Insurance Policy
      is in full force and effect, (iii)(a) a property condition or engineering
      report was prepared with respect to lead based paint ("LBP"), asbestos
      containing materials ("ACM") and radon gas ("RG") at each related
      Mortgaged Property and (b) if such report disclosed the existence of a
      material and adverse LBP, ACM or RG environmental condition or
      circumstance affecting the related Mortgaged Property, the related
      Mortgagor (A) was required to remediate the identified condition prior to
      closing the Mortgage Loan or provide additional security, or establish
      with the lender a reserve from loan proceeds, in an amount deemed to be
      sufficient by the Seller for the remediation of the problem and/or (B)
      agreed in the Mortgage Loan documents to establish an operations and
      maintenance plan after the closing of the Mortgage Loan, (iv) on the
      effective date of the Environmental Insurance Policy, Seller as originator
      had no knowledge of any material and adverse environmental condition or
      circumstance affecting the Mortgaged Property (other than the existence of
      LBP, ACM or RG) that was not disclosed to the Policy Issuer in one or more
      of the following: (a) the application for insurance, (b) a borrower
      questionnaire that was provided to the Policy Issuer or (c) an engineering
      or other report provided to the Policy Issuer and (v) the premium of any
      Environmental Insurance Policy has been paid through the maturity of the
      policy's term and the term of such policy extends at least five years
      beyond the maturity of the Mortgage Loan.

            (ii) With respect to the Mortgaged Properties securing the Mortgage
      Loans that were not the subject of an environmental site assessment within
      18 months prior to the Cut-Off Date as set forth on Schedule A to this
      Exhibit 2, (i) no Hazardous Material is present on such Mortgaged Property
      such that (1) the value of such Mortgaged Property is materially and
      adversely affected or (2) under applicable federal, state or local law,
      (a) such Hazardous Material could be required to be eliminated at a cost
      materially and adversely affecting the value of the Mortgaged Property
      before such Mortgaged Property could be altered, renovated, demolished or
      transferred or (b) the presence of such Hazardous Material could (upon
      action by the appropriate governmental authorities) subject the owner of
      such Mortgaged Property, or the holders of a security interest therein, to
      liability for the cost of eliminating such Hazardous Material or the
      hazard created thereby at a cost materially and adversely affecting the
      value of the Mortgaged Property, and (ii) such Mortgaged Property is in
      material compliance with all applicable federal, state and local laws
      pertaining to Hazardous Materials or environmental hazards, any
      noncompliance with such laws does not have a material adverse effect on
      the value of such Mortgaged Property and neither Seller nor, to Seller's
      knowledge, the related Mortgagor or any current tenant thereon, has
      received any notice of violation or potential violation of any such law.

      "Hazardous Materials" means gasoline, petroleum products, explosives,
      radioactive materials, polychlorinated biphenyls or related or similar
      materials, and any other substance or material as may be defined as a
      hazardous or toxic substance by any federal, state or local environmental
      law, ordinance, rule, regulation or order, including without limitation,
      the Comprehensive Environmental Response, Compensation and Liability Act
      of 1980, as amended (42 U.S.C.ss.ss.9601 et seq.), the Hazardous Materials
      Transportation Act as amended (42 U.S.C.ss.ss.6901 et seq.), the Federal
      Water Pollution Control Act as amended (33 U.S.C.ss.ss.1251 et seq.), the
      Clean Air Act (42 U.S.C.ss.sS. 1251 et seq.) and any regulations
      promulgated pursuant thereto.

            13. Loan Document Status. Each Mortgage Note, Mortgage and other
agreement that evidences or secures such Mortgage Loan and was executed by or on
behalf of the related Mortgagor is the legal, valid and binding obligation of
the maker thereof (subject to any non-recourse provisions contained in any of
the foregoing agreements and any applicable state anti-deficiency or market
value limit deficiency legislation), enforceable in accordance with its terms,
except as such enforcement may be limited by bankruptcy, insolvency,
reorganization or other similar laws affecting the enforcement of creditors'
rights generally, and by general principles of equity (regardless of whether
such enforcement is considered in a proceeding in equity or at law) and there is
no valid defense, counterclaim or right of offset or rescission available to the
related Mortgagor with respect to such Mortgage Note, Mortgage or other
agreement.

            14. Insurance. Each Mortgaged Property is, and is required pursuant
to the related Mortgage to be, insured by (a) a fire and extended perils
insurance policy providing coverage against loss or damage sustained by reason
of fire, lightning, windstorm, hail, explosion, riot, riot attending a strike,
civil commotion, aircraft, vehicles and smoke, and, to the extent required as of
the date of origination by the originator of such Mortgage Loan consistent with
its normal commercial mortgage lending practices, against other risks insured
against by persons operating like properties in the locality of the Mortgaged
Property so-called "All Risk" coverage in an amount not less than the lesser of
the principal balance of the related Mortgage Loan and the replacement cost of
the Mortgaged Property, and contains no provisions for a deduction for
depreciation, and not less than the amount necessary to avoid the operation of
any co-insurance provisions with respect to the Mortgaged Property; (b) a
business interruption or rental loss insurance policy, in an amount at least
equal to six months of operations of the Mortgaged Property; (c) a flood
insurance policy (if any portion of buildings or other structures on the
Mortgaged Property are located in an area identified by the Federal Emergency
Management Agency as having special flood hazards and the Federal Emergency
Management Agency requires flood insurance to be maintained); and (d) a
comprehensive general liability insurance policy in amounts as are generally
required by commercial mortgage lenders, and in any event not less than $1
million per occurrence. Such insurance policy contains a standard mortgagee
clause that names the mortgagee as an additional insured in the case of
liability insurance policies and as a loss payee in the case of property
insurance policies and requires prior notice to the holder of the Mortgage of
termination or cancellation. No such notice has been received, including any
notice of nonpayment of premiums, that has not been cured. Each Mortgage
obligates the related Mortgagor to maintain all such insurance and, upon such
Mortgagor's failure to do so, authorizes the holder of the Mortgage to maintain
such insurance at the Mortgagor's cost and expense and to seek reimbursement
therefor from such Mortgagor. Each Mortgage provides that casualty insurance
proceeds will be applied (a) to the restoration or repair of the related
Mortgaged Property, (b) to the restoration or repair of the related Mortgaged
Property, with any excess insurance proceeds after restoration or repair being
paid to the Mortgagor, or (c) to the reduction of the principal amount of the
Mortgage Loan.

            15. Taxes and Assessments. As of the Closing Date, there are no
delinquent or unpaid taxes, assessments (including assessments payable in future
installments) or other outstanding charges affecting any Mortgaged Property that
are or may become a lien of priority equal to or higher than the lien of the
related Mortgage. For purposes of this representation and warranty, real
property taxes and assessments shall not be considered unpaid until the date on
which interest or penalties would be first payable thereon.

            16. Mortgagor Bankruptcy. No Mortgagor is, to the Seller's
knowledge, a debtor in any state or federal bankruptcy or insolvency proceeding.

            17. Leasehold Estate. Each Mortgaged Property consists of a fee
simple estate in real estate or, if the related Mortgage Loan is secured in
whole or in part by the interest of a Mortgagor as a lessee under a ground lease
of a Mortgaged Property (a "Ground Lease"), by the related Mortgagor's interest
in the Ground Lease but not by the related fee interest in such Mortgaged
Property (the "Fee Interest"), and as to such Ground Leases:

            (i) Such Ground Lease or a memorandum thereof has been or will be
      duly recorded; such Ground Lease (or the related estoppel letter or lender
      protection agreement between the Seller and related lessor) does not
      prohibit the current use of the Mortgaged Property and does not prohibit
      the interest of the lessee thereunder to be encumbered by the related
      Mortgage; and there has been no material change in the payment terms of
      such Ground Lease since the origination of the related Mortgage Loan, with
      the exception of material changes reflected in written instruments that
      are a part of the related Mortgage File;

            (ii) The lessee's interest in such Ground Lease is not subject to
      any liens or encumbrances superior to, or of equal priority with, the
      related Mortgage, other than Permitted Encumbrances;

            (iii) The Mortgagor's interest in such Ground Lease is assignable to
      the Purchaser and its successors and assigns upon notice to, but without
      the consent of, the lessor thereunder (or, if such consent is required, it
      has been obtained prior to the Closing Date) and, in the event that it is
      so assigned, is further assignable by the Purchaser and its successors and
      assigns upon notice to, but without the need to obtain the consent of,
      such lessor or if such lessor's consent is required it cannot be
      unreasonably withheld;

            (iv) Such Ground Lease is in full force and effect, and the Ground
      Lease provides that no material amendment to such Ground Lease is binding
      on a mortgagee unless the mortgagee has consented thereto, and the Seller
      has received no notice that an event of default has occurred thereunder,
      and, to the Seller's knowledge, there exists no condition that, but for
      the passage of time or the giving of notice, or both, would result in an
      event of default under the terms of such Ground Lease;

            (v) Such Ground Lease, or an estoppel letter or other agreement, (A)
      requires the lessor under such Ground Lease to give notice of any default
      by the lessee to the holder of the Mortgage; and (B) provides that no
      notice of termination given under such Ground Lease is effective against
      the holder of the Mortgage unless a copy of such notice has been delivered
      to such holder and the lessor has offered or is required to enter into a
      new lease with such holder on terms that do not materially vary from the
      economic terms of the Ground Lease.

            (vi) A mortgagee is permitted a reasonable opportunity (including,
      where necessary, sufficient time to gain possession of the interest of the
      lessee under such Ground Lease) to cure any default under such Ground
      Lease, which is curable after the receipt of notice of any such default,
      before the lessor thereunder may terminate such Ground Lease;

            (vii) Such Ground Lease has an original term (including any
      extension options set forth therein) which extends not less than twenty
      years beyond the Stated Maturity Date of the related Mortgage Loan;

            (viii) Under the terms of such Ground Lease and the related
      Mortgage, taken together, any related insurance proceeds or condemnation
      award awarded to the holder of the ground lease interest will be applied
      either (A) to the repair or restoration of all or part of the related
      Mortgaged Property, with the mortgagee or a trustee appointed by the
      related Mortgage having the right to hold and disburse such proceeds as
      the repair or restoration progresses (except in such cases where a
      provision entitling a third party to hold and disburse such proceeds would
      not be viewed as commercially unreasonable by a prudent commercial
      mortgage lender), or (B) to the payment of the outstanding principal
      balance of the Mortgage Loan together with any accrued interest thereon;
      and

            (ix) Such Ground Lease does not impose any restrictions on
      subletting which would be viewed as commercially unreasonable by prudent
      commercial mortgage lenders lending on a similar Mortgaged Property in the
      lending area where the Mortgaged Property is located; and such Ground
      Lease contains a covenant that the lessor thereunder is not permitted, in
      the absence of an uncured default, to disturb the possession, interest or
      quiet enjoyment of the lessee thereunder for any reason, or in any manner,
      which would materially adversely affect the security provided by the
      related Mortgage.

            (x) Such Ground Lease requires the Lessor to enter into a new lease
      upon termination of such Ground Lease if the Ground Lease is rejected in a
      bankruptcy proceeding.

            18. Escrow Deposits. All escrow deposits and payments relating to
each Mortgage Loan that are, as of the Closing Date, required to be deposited or
paid have been so deposited or paid.

            19. LTV Ratio. The gross proceeds of each Mortgage Loan to the
related Mortgagor at origination did not exceed the non-contingent principal
amount of the Mortgage Loan and either: (a) such Mortgage Loan is secured by an
interest in real property having a fair market value (i) at the date the
Mortgage Loan was originated, at least equal to 80 percent of the original
principal balance of the Mortgage Loan or (ii) at the Closing Date, at least
equal to 80 percent of the principal balance of the Mortgage Loan on such date;
provided that for purposes hereof, the fair market value of the real property
interest must first be reduced by (x) the amount of any lien on the real
property interest that is senior to the Mortgage Loan and (y) a proportionate
amount of any lien that is in parity with the Mortgage Loan (unless such other
lien secures a Mortgage Loan that is cross-collateralized with such Mortgage
Loan, in which event the computation described in clauses (a)(i) and (a)(ii) of
this paragraph 19 shall be made on a pro rata basis in accordance with the fair
market values of the Mortgaged Properties securing such cross-collateralized
Mortgage Loans); or (b) substantially all the proceeds of such Mortgage Loan
were used to acquire, improve or protect the real property that served as the
only security for such Mortgage Loan (other than a recourse feature or other
third party credit enhancement within the meaning of Treasury Regulations
Section 1.860G-2(a)(1)(ii)).

            20. Mortgage Loan Modifications. Any Mortgage Loan that was
"significantly modified" prior to the Closing Date so as to result in a taxable
exchange under Section 1001 of the Code either (a) was modified as a result of
the default under such Mortgage Loan or under circumstances that made a default
reasonably foreseeable or (b) satisfies the provisions of either clause (a)(i)
of paragraph 19 (substituting the date of the last such modification for the
date the Mortgage Loan was originated) or clause (a)(ii) of paragraph 19,
including the proviso thereto.

            21. Advancement of Funds by the Seller. No holder of a Mortgage Loan
has advanced funds or induced, solicited or knowingly received any advance of
funds from a party other than the owner of the related Mortgaged Property,
directly or indirectly, for the payment of any amount required by such Mortgage
Loan.

            22. No Mechanics' Liens. Each Mortgaged Property is free and clear
of any and all mechanics' and materialmen's liens that are prior or equal to the
lien of the related Mortgage, and no rights are outstanding that under law could
give rise to any such lien that would be prior or equal to the lien of the
related Mortgage except, in each case, for liens insured against by the Title
Policy referred to herein.

            23. Compliance with Usury Laws. Each Mortgage Loan complied with all
applicable usury laws in effect at its date of origination.

            24. Cross-collateralization. No Mortgage Loan is
cross-collateralized or cross-defaulted with any loan other than one or more
other Mortgage Loans.

            25. Releases of Mortgaged Property. Except as described in the next
sentence, no Mortgage Note or Mortgage requires the mortgagee to release all or
any material portion of the related Mortgaged Property that was included in the
appraisal for such Mortgaged Property, and/or generates income from the lien of
the related Mortgage except upon payment in full of all amounts due under the
related Mortgage Loan or in connection with the defeasance provisions of the
related Note and Mortgage. The Mortgages relating to those Mortgage Loans
identified on Schedule A hereto require the mortgagee to grant releases of
portions of the related Mortgaged Properties upon (a) the satisfaction of
certain legal and underwriting requirements and/or (b) the payment of a release
price and prepayment consideration in connection therewith. Except as described
in the first sentence hereof and for those Mortgage Loans identified on Schedule
A, no Mortgage Loan permits the full or partial release or substitution of
collateral unless the mortgagee or servicer can require the Mortgagor to provide
an opinion of tax counsel to the effect that such release or substitution of
collateral (a) would not constitute a "significant modification" of such
Mortgage Loan within the meaning of Treas. Reg. ss.1.1001-3 and (b) would not
cause such Mortgage LoaN to fail to be a "qualified mortgage" within the meaning
of Section 860G(a)(3)(A) of the Code.

            26. No Equity Participation or Contingent Interest. No Mortgage Loan
contains any equity participation by the lender or provides for negative
amortization (except that the ARD Loan may provide for the accrual of interest
at an increased rate after the Anticipated Repayment Date) or for any contingent
or additional interest in the form of participation in the cash flow of the
related Mortgaged Property.

            27. No Material Default. To the Seller's knowledge, there exists no
material default, breach, violation or event of acceleration (and no event
which, with the passage of time or the giving of notice, or both, would
constitute any of the foregoing) under the documents evidencing or securing the
Mortgage Loan, in any such case to the extent the same materially and adversely
affects the value of the Mortgage Loan and the related Mortgaged Property;
provided, however, that this representation and warranty does not address or
otherwise cover any default, breach, violation or event of acceleration that
specifically pertains to any matter otherwise covered by any other
representation and warranty made by the Seller in any of paragraphs 3, 7, 12,
14, 15, 16 and 17 of this Exhibit 2.

            28. Inspections. The Seller (or if the Seller is not the originator,
the originator of the Mortgage Loan) has inspected or caused to be inspected
each Mortgaged Property in connection with the origination of the related
Mortgage Loan.

            29. Local Law Compliance. Based on due diligence considered
reasonable by prudent commercial mortgage lenders in the lending area where the
Mortgaged Property is located, the improvements located on or forming part of
each Mortgaged Property comply with applicable zoning laws and ordinances, or
constitute a legal non-conforming use or structure or, if any such improvement
does not so comply, such non-compliance does not materially and adversely affect
the value of the related Mortgaged Property, such value as determined by the
appraisal performed at origination or in connection with the sale of the related
Mortgage Loan by the Seller hereunder.

            30. Junior Liens. None of the Mortgage Loans permits the related
Mortgaged Property to be encumbered by any lien (other than a Permitted
Encumbrance) junior to or of equal priority with the lien of the related
Mortgage without the prior written consent of the holder thereof or the
satisfaction of debt service coverage or similar criteria specified therein. The
Seller has no knowledge that any of the Mortgaged Properties is encumbered by
any lien junior to the lien of the related Mortgage.

            31. Actions Concerning Mortgage Loans. To the knowledge of the
Seller, there are no actions, suits or proceedings before any court,
administrative agency or arbitrator concerning any Mortgage Loan, Mortgagor or
related Mortgaged Property that might adversely affect title to the Mortgaged
Property or the validity or enforceability of the related Mortgage or that might
materially and adversely affect the value of the Mortgaged Property as security
for the Mortgage Loan or the use for which the premises were intended.

            32. Servicing. The servicing and collection practices used by the
Seller or any prior holder or servicer of each Mortgage Loan have been in all
material respects legal, proper and prudent and have met customary industry
standards.

            33. Licenses and Permits. To the Seller's knowledge, based on due
diligence that it customarily performs in the origination of comparable mortgage
loans, as of the date of origination of each Mortgage Loan or as of the date of
the sale of the related Mortgage Loan by the Seller hereunder, the related
Mortgagor was in possession of all material licenses, permits and franchises
required by applicable law for the ownership and operation of the related
Mortgaged Property as it was then operated.

            34. Collateral in Trust. The Mortgage Note for each Mortgage Loan is
not secured by a pledge of any collateral that has not been assigned to the
Purchaser.

            35. Due on Sale. Each Mortgage Loan contains a "due on sale" clause,
which provides for the acceleration of the payment of the unpaid principal
balance of the Mortgage Loan if, without prior written consent of the holder of
the Mortgage, the property subject to the Mortgage or any material portion
thereof, or a controlling interest in the related Mortgagor, is transferred,
sold or encumbered by a junior mortgage or deed of trust; provided, however,
that certain Mortgage Loans provide a mechanism for the assumption of the loan
by a third party upon the Mortgagor's satisfaction of certain conditions
precedent, and upon payment of a transfer fee, if any, or transfer of interests
in the Mortgagor or constituent entities of the Mortgagor to a third party or
parties related to the Mortgagor upon the Mortgagor's satisfaction of certain
conditions precedent.

            36. Non-Recourse Exceptions. The Mortgage Loan documents for each
Mortgage Loan provide that such Mortgage Loan constitutes either (a) the
recourse obligations of at least one natural person or (b) the non-recourse
obligations of the related Mortgagor, provided that at least one natural person
(and the Mortgagor if the Mortgagor is not a natural person) is liable to the
holder of the Mortgage Loan for damages arising in the case of fraud or willful
misrepresentation by the Mortgagor, misappropriation of rents, insurance
proceeds or condemnation awards and breaches of the environmental covenants in
the Mortgage Loan documents.

            37. Reserved.

            38. Reserved.

            39. Reserved.

            40. Prepayment Premiums. As of the applicable date of origination of
each such Mortgage Loan, any prepayment premiums and yield maintenance charges
payable under the terms of the Mortgage Loans, in respect of voluntary
prepayments, constituted customary prepayment premiums and yield maintenance
charges for commercial mortgage loans of the Seller.

            41. Reserved.

            42. Single Purpose Entity. The Mortgagor on each Mortgage Loan with
a Cut-Off Date Principal Balance in excess of $10 million, was, as of the
origination of the Mortgage Loan, a Single Purpose Entity. For this purpose, a
"Single Purpose Entity" shall mean an entity, other than an individual, whose
organizational documents provide substantially to the effect that it was formed
or organized solely for the purpose of owning and operating one or more of the
Mortgaged Properties securing the Mortgage Loans and prohibit it from engaging
in any business unrelated to such Mortgaged Property or Properties, and whose
organizational documents further provide, or which entity represented in the
related Mortgage Loan documents, substantially to the effect that it does not
have any assets other than those related to its interest in, and operation of,
such Mortgaged Property or Properties, or any indebtedness other than as
permitted by the related Mortgage(s) or the other related Mortgage Loan
documents, that it has its own books and records and accounts separate and apart
from any other person (other than a Mortgagor for a Mortgage Loan that is
cross-collateralized and cross-defaulted with the related Mortgage Loan), and
that it holds itself out as a legal entity, separate and apart from any other
person.

            43. Defeasance and Assumption Costs. The related Mortgage Loan
Documents provide that the related borrower is responsible for the payment of
all reasonable costs and expenses of the Lender incurred in connection with the
defeasance of such Mortgage Loan and the release of the related Mortgaged
Property, and the borrower is required to pay all reasonable costs and expenses
of the Lender associated with the approval of an assumption of such Mortgage
Loan.

            44. Defeasance. No Mortgage Loan provides that it can be defeased
until the date that is more than two years after the Closing Date or provides
that it can be defeased with any property other than government securities (as
defined in Section 2(a)(16) of the Investment Company Act of 1940, as amended)
or any direct non-callable security issued or guaranteed as to principal or
interest by the United States.

<PAGE>

                                   Schedule A

                  EXCEPTIONS TO REPRESENTATIONS AND WARRANTIES
                     John Hancock Real Estate Finance, Inc.
                                     Pool XI
                               AS OF JUNE 26, 2002

Representation No. 9--No Holdbacks

LOAN NUMBER         LOAN IDENTITY                     EXPLANATION

    58           BJ's Wholesale Club    With respect to Loan No. 58, BJ's
                                        Wholesale Club, the related Mortgagor
                                        constructed approximately 8,400 square
                                        feet of additional retail space for
                                        which no funds were escrowed. JHREF
                                        received confirmation that the
                                        construction has been substantially
                                        completed, and the Mortgaged Property
                                        awaits issuance of a certificate of
                                        occupancy

Representation #35--Due on Sale

LOAN NUMBER         LOAN IDENTITY                     EXPLANATION

    95           Best Western Beach     With respect to Mortgage Loan No. 95,
                 Resort Hotel           Best Western Beach Resort Hotel, the
                                        mortgage permits subordinate financing
                                        secured by the Mortgaged Property upon
                                        satisfaction of certain conditions,
                                        including that upon placement of the
                                        financing, the Mortgaged Property must
                                        have a debt service coverage ratio for
                                        the combined loan payments of no less
                                        than 2.0x.

Representation #35--Due on Sale

With respect to the following Mortgage Loans, the related Mortgagor may have
obtained, and may have the right in the future to obtain, additional financing
not secured by the Mortgaged Property, as the related loan documents evidencing
and securing the related Mortgage Loans do not explicitly prohibit certain types
of financing.

LOAN NUMBER         LOAN IDENTITY

    68           Lost Dutchman RV Park
    102          Staples\Comp USA
    103          Walgreen's Plaza

Representation No. 36--Non-Recourse Exceptions

The following Mortgage Loans do not have at least one natural person liable upon
the non-recourse carve outs of the related Mortgage Loan:

LOAN NUMBER         LOAN IDENTITY

    27           1750 K Street
    57           Scottsdale Executive Villas
    68           Lost Dutchman RV Park
    102          Staples\Comp USA
    103          Walgreen's Plaza

Representation No. 36--Non-Recourse Exceptions

LOAN NUMBER         LOAN IDENTITY                     EXPLANATION

    35           BJ's Wholesale Club    With respect to Loan No. 35, BJ's
                                        Wholesale Club, the related mortgage
                                        loan documents provide for recourse
                                        liability for certain losses, costs and
                                        damages arising from breaches of
                                        environmental covenants. But that
                                        liability is limited to the presence,
                                        release or threat of release of
                                        hazardous materials, contamination or
                                        other breach, falsity or failure to
                                        perform with regard to hazardous
                                        materials or violation of any
                                        environmental laws which occurred,
                                        existed or arose during the related
                                        Mortgagor's ownership of the related
                                        Mortgaged Property. Additionally, any
                                        such liability is limited to the
                                        lender's actual damages (including
                                        without limitation reasonable attorneys'
                                        fees and costs).

    43           Preston Center Plaza   With respect to Loan No. 43, Preston
                                        Center Plaza, the related loan documents
                                        provide recourse liability for certain
                                        losses, costs and damages arising from
                                        the non-recourse carve-outs specified in
                                        representation no. 36, including
                                        misapplication of rents at the related
                                        Mortgaged Property. But misapplication
                                        of rents is defined specifically as
                                        retention of rents from tenants or other
                                        occupants of the Mortgaged Property
                                        after the occurrence of an event of
                                        default, which retention is not applied
                                        to current operating expenses and
                                        amounts due under the Loan.

Representation #43--Defeasance and Assumption Costs

LOAN NUMBER         LOAN IDENTITY                     EXPLANATION

    35           BJ's Wholesale Club    With respect to Loan No. 35, BJ's
                                        Wholesale Club, the loan documents do
                                        not contain a one time right to transfer
                                        the Mortgaged Property and the Mortgage
                                        Loan but do permit certain transfers of
                                        limited partnership interests to other
                                        limited partners, to immediate family
                                        members or to estate planning entities.

<PAGE>

                                   Schedule B

    List of Mortgagors that are Third-Party Beneficiaries Under Section 5(b)

                                      None

<PAGE>

                                    EXHIBIT 3

                               PRICING FORMULATION

              Purchase Price                          $116,374,185

<PAGE>

                                    EXHIBIT 4

                                  BILL OF SALE

            1.    PARTIES. The parties to this Bill of Sale are the following:

                  Seller:           John Hancock Real Estate Finance, Inc.

                  Purchaser:        Morgan Stanley Dean Witter Capital I Inc.

            2. SALE. For value received, the Seller hereby conveys to the
Purchaser, without recourse, all right, title and interest in and to the
Mortgage Loans identified on Exhibit 1 (the "Mortgage Loan Schedule") to the
Mortgage Loan Purchase Agreement, dated as of June 1, 2002 (the "Mortgage Loan
Purchase Agreement"), between the Seller and the Purchaser and all of the
following property:

            (a) All accounts, general intangibles, chattel paper, instruments,
      documents, money, deposit accounts, certificates of deposit, goods,
      letters of credit, advices of credit and investment property consisting
      of, arising from or relating to any of the following property: the
      Mortgage Loans identified on the Mortgage Loan Schedule including the
      related Mortgage Notes, Mortgages, security agreements, and title, hazard
      and other insurance policies, all distributions with respect thereto
      payable after the Cut-Off Date, all substitute or replacement Mortgage
      Loans and all distributions with respect thereto, and the Mortgage Files;

            (b) All accounts, general intangibles, chattel paper, instruments,
      documents, money, deposit accounts, certificates of deposit, goods,
      letters of credit, advices of credit, investment property, and other
      rights arising from or by virtue of the disposition of, or collections
      with respect to, or insurance proceeds payable with respect to, or claims
      against other Persons with respect to, all or any part of the collateral
      described in clause (a) above (including any accrued discount realized on
      liquidation of any investment purchased at a discount); and

            (c) All cash and non-cash proceeds of the collateral described in
      clauses (a) and (b) above.

            3. PURCHASE PRICE. The amount and other consideration set forth on
Exhibit 3 to the Mortgage Loan Purchase Agreement.

            4. DEFINITIONS. Terms used but not defined herein shall have the
meanings assigned to them in the Mortgage Loan Purchase Agreement.

<PAGE>

            IN WITNESS WHEREOF, each of the parties hereto has caused this Bill
of Sale to be duly executed and delivered on this [__]th day of June, 2002.

SELLER:                                 JOHN HANCOCK REAL ESTATE FINANCE, INC.

                                        By:_____________________________________
                                           Name:
                                           Title:

PURCHASER:                              MORGAN STANLEY DEAN WITTER CAPITAL I
                                           INC.

                                        By:_____________________________________
                                           Name:
                                           Title:

<PAGE>

                                    EXHIBIT 5

                        FORM OF LIMITED POWER OF ATTORNEY

THIS DOCUMENT PREPARED BY,
AND AFTER RECORDING RETURN TO:

Lend Lease Asset Management, L.P.
700 North Pearl Street, Suite 2400
Dallas, Texas 75201
Attention: Michael O'Hanlon

LaSalle Bank National Association
135 South LaSalle Street, Suite 1625
Chicago, Illinois 60603
Attention: Asset-Backed Securities Trust Services Group

--------------------------------------------------------------------------------

                            LIMITED POWER OF ATTORNEY

            Know all persons by these presents; that the undersigned, having an
address of [MORTGAGE LOAN SELLER'S ADDRESS] (the "Seller"), being duly empowered
and authorized to do so, does hereby make, constitute and appoint Lend Lease
Asset Management, L.P., having an address of 700 North Pearl Street, Suite 2400,
Dallas, Texas 75201, Attention: Michael O'Hanlon (the "Special Servicer") and
LaSalle Bank National Association, having an address of 135 South LaSalle
Street, Suite 1625, Chicago, Illinois 60603, Attention: Asset-Backed Securities
Trust Services Group--Morgan Stanley Dean Witter Capital I Inc., Series 2002-IQ2
(the "Trustee") as the true and lawful attorneys-in-fact for the undersigned, in
its name, place and stead, and for its use and benefit:

To empower the Trustee and, in the event of the failure or incapacity of the
      Trustee, the Special Servicer, to submit for recording, at the expense of
      the Seller, any mortgage loan documents required to be recorded as
      described in the Pooling and Servicing Agreement and any intervening
      assignments with evidence of recording thereon that are required to be
      included in the Mortgage File (so long as original counterparts have
      previously been delivered to the Trustee).

This power of attorney shall be limited to the above-mentioned exercise of
      power.

This instrument is to be construed and interpreted as a limited power of
      attorney. The enumeration of specific items, rights, acts or powers herein
      is not intended to, nor does it give rise to, and it is not intended to be
      construed as, a general power of attorney.

The rights, power of authority of said attorney herein granted shall commence
      and be in full force and effect on the date hereof and such rights, powers
      and authority shall remain in full force and effect until the termination
      of the Pooling and Servicing Agreement, dated as of June 1, 2002 (the
      "Pooling and Servicing Agreement"), among Morgan Stanley Dean Witter
      Capital I Inc., as Depositor, ORIX Capital Markets, LLC, as Master
      Servicer, the Special Servicer, the Trustee and ABN AMRO Bank N.V., as
      Fiscal Agent, with respect to the Trust.

            Capitalized terms used herein but not defined herein shall have the
meanings assigned to them in the Pooling and Servicing Agreement.

<PAGE>

IN WITNESS WHEREOF, I have hereunto set my hand this ____ day of June, 2002.

Witnessed by:                           [SELLER]

___________________________             By:________________________
Print Name:                             Name:
                                        Title:

STATE OF______________________)

COUNTY OF_____________________)

On __________________________, before me, a Notary Public in and for said
county, personally appeared ________________________________, personally known
to me (or proved to me on the basis of satisfactory evidence) to be the person
whose name is subscribed to the within instrument and acknowledged to me that
he/she executed the same in his/her authorized capacity, and that by his/her
signature on the instrument the person acted and executed the instrument.
Witness my hand and official seal.

_______________________________________
Commission Expires:

<PAGE>

                                   EXHIBIT K-5

                   FORM OF MORTGAGE LOAN PURCHASE AGREEMENT V
                                     (TIAA)

<PAGE>

                                                                  EXECUTION COPY

                        MORTGAGE LOAN PURCHASE AGREEMENT
                                  (TIAA LOANS)

            Mortgage Loan Purchase Agreement (this "Agreement"), dated as of
June 1, 2002, between Teachers Insurance and Annuity Association of America (the
"Seller"), and Morgan Stanley Dean Witter Capital I Inc. (the "Purchaser").

            The Seller agrees to sell and the Purchaser agrees to purchase
certain mortgage loans listed on Exhibit 1 hereto (the "Mortgage Loans") as
described herein. The Purchaser will convey the Mortgage Loans to a trust (the
"Trust") created pursuant to a Pooling and Servicing Agreement (the "Pooling and
Servicing Agreement"), to be dated as of June 1, 2002, between the Purchaser, as
depositor, ORIX Capital Markets, LLC, as master servicer (the "Master
Servicer"), Lend Lease Asset Management, L.P., as special servicer (the "Special
Servicer"), and LaSalle Bank National Association, as trustee, paying agent and
certificate registrar (the "Trustee"). In exchange for the Mortgage Loans and
certain other mortgage loans to be purchased by the Purchaser (collectively the
"Other Mortgage Loans"), the Trust will issue to the Depositor pass-through
certificates to be known as Morgan Stanley Dean Witter Capital I Inc.,
Commercial Mortgage Pass-Through Certificates, Series 2002-IQ2 (the
"Certificates"). The Certificates will be issued pursuant to the Pooling and
Servicing Agreement.

            Capitalized terms used herein but not defined herein shall have the
meanings assigned to them in the Pooling and Servicing Agreement.

            The Class A-1, Class A-2, Class A-3, Class B, Class C and Class D
Certificates (the "Public Certificates") will be sold by the Purchaser to Morgan
Stanley & Co. Incorporated and Credit Suisse First Boston Corporation (the
"Underwriters"), pursuant to an Underwriting Agreement, between the Purchaser
and the Underwriters, dated June 19, 2002 (the "Underwriting Agreement"), and
the Class X-1, Class X-2, Class E, Class F, Class G, Class H, Class J, Class K,
Class L, Class M, Class N, Class O, Class R-I, Class R-II and Class R-III
Certificates (the "Private Certificates") will be sold by the Purchaser to
Morgan Stanley & Co. Incorporated (the "Initial Purchaser") pursuant to a
Certificate Purchase Agreement, between the Purchaser and the Initial Purchaser,
dated June 19, 2002 (the "Certificate Purchase Agreement"). The Underwriters
will offer the Public Certificates for sale publicly pursuant to a Prospectus
dated June 6, 2002, as supplemented by a Prospectus Supplement dated June 19,
2002 (together, the "Prospectus Supplement"), and the Initial Purchaser will
offer the Private Certificates for sale in transactions exempt from the
registration requirements of the Securities Act of 1933 pursuant to a Private
Placement Memorandum dated June 19, 2002 (the "Memorandum").

            In consideration of the mutual agreements contained herein, the
Seller and the Purchaser hereby agree as follows:

            Section 1. Agreement to Purchase. The Seller agrees to sell, and the
Purchaser agrees to purchase, on a servicing released basis, the Mortgage Loans
identified on the schedule (the "Mortgage Loan Schedule") annexed hereto as
Exhibit 1, as such schedule may be amended to reflect the actual Mortgage Loans
accepted by the Purchaser pursuant to the terms hereof. The Cut-Off Date with
respect to each Mortgage Loan is such Mortgage Loan's Due Date in the month of
June 1, 2002. The Mortgage Loans and the Other Mortgage Loans will have an
aggregate principal balance as of the close of business on the Cut-Off Date,
after giving effect to any payments due on or before such date, whether or not
received, of $778,574,565. The sale of the Mortgage Loans shall take place on
June 27, 2002 or such other date as shall be mutually acceptable to the parties
hereto (the "Closing Date"). The purchase price to be paid by the Purchaser for
the Mortgage Loans shall equal the amount set forth as such purchase price on
Exhibit 3 hereto. The purchase price shall be paid to the Seller by wire
transfer in immediately available funds on the Closing Date.

            On the Closing Date, the Purchaser will assign to the Trustee
pursuant to the Pooling and Servicing Agreement all of its right, title and
interest in and to the Mortgage Loans and its rights under this Agreement (to
the extent set forth in Section 14), and the Trustee shall succeed to such
right, title and interest in and to the Mortgage Loans and the Purchaser's
rights under this Agreement (to the extent set forth in Section 14).

            Section 2. Conveyance of Mortgage Loans. Effective as of the Closing
Date, subject only to receipt of the consideration referred to in Section 1
hereof and the satisfaction of the conditions specified in Sections 6 and 7
hereof, the Seller does hereby transfer, assign, set over and otherwise convey
to the Purchaser, without recourse, all the right, title and interest of the
Seller, subject to that certain Servicing Rights Purchase and Sale Agreement,
dated June 1, 2002, between the Seller and the Master Servicer, in and to the
Mortgage Loans identified on the Mortgage Loan Schedule as of the Closing Date.
The Mortgage Loan Schedule, as it may be amended from time to time on or prior
to the Closing Date, shall conform to the requirements of this Agreement and the
Pooling and Servicing Agreement. In connection with such transfer and
assignment, the Seller shall deliver to or on behalf of the Trustee, on behalf
of the Purchaser, on or prior to the Closing Date, the Mortgage Note (as
described in clause (a) below) for each Mortgage Loan and on or prior to the
fifth Business Day after the Closing Date, five limited powers of attorney
substantially in the form attached hereto as Exhibit 5 in favor of the Trustee,
the Master Servicer and the Special Servicer to empower the Trustee and, in the
event of the failure or incapacity of the Trustee, the Master Servicer and the
Special Servicer, to submit for recording, at the expense of the Seller, any
mortgage loan documents required to be recorded as described in the Pooling and
Servicing Agreement and any intervening assignments with evidence of recording
thereon that are required to be included in the Mortgage Files (so long as
original counterparts have previously been delivered to the Trustee). The Seller
agrees to reasonably cooperate with the Trustee, the Master Servicer and the
Special Servicer in connection with any additional powers of attorney or
revisions thereto that are requested by such parties for purposes of such
recordation. The parties hereto agree that no such power of attorney shall be
used with respect to any Mortgage Loan by or under authorization by any party
hereto except to the extent that the absence of a document described in the
second preceding sentence with respect to such Mortgage Loan remains unremedied
as of the earlier of (i) the date that is 180 days following the delivery of
notice of such absence to the related Seller, but in no event earlier than 18
months from the Closing Date, and (ii) the date (if any) on which such Mortgage
Loan becomes a Specially Serviced Mortgage Loan. The Trustee shall submit such
documents, at the Seller's expense, after the periods set forth above, provided,
however, the Trustee shall not submit such assignments for recording if the
Seller produces evidence that it has sent any such assignment for recording and
certifies that the Seller is awaiting its return from the applicable recording
office. In addition, not later than the 30th day following the Closing Date, the
Seller shall deliver to or on behalf of the Trustee each of the remaining
documents or instruments specified below (with such exceptions as are permitted
by this Section) with respect to each Mortgage Loan (each, a "Mortgage File").
(The Seller acknowledges that the term "without recourse" does not modify the
duties of the Seller under Section 5 hereof.)

            All Mortgage Files, or portions thereof, delivered prior to the
Closing Date are to be held by or on behalf of the Trustee in escrow on behalf
of the Seller at all times prior to the Closing Date. The Mortgage Files shall
be released from escrow upon closing of the sale of the Mortgage Loans and
payments of the purchase price therefor as contemplated hereby. The Mortgage
File for each Mortgage Loan shall contain the following documents:

            (a) The original Mortgage Note bearing all intervening endorsements,
endorsed "Pay to the order of LaSalle Bank National Association, as Trustee for
Morgan Stanley Dean Witter Capital I Inc., Commercial Mortgage Pass-Through
Certificates, Series 2002-IQ2, without recourse, representation or warranty" or
if the original Mortgage Note is not included therein, then a lost note
affidavit, with a copy of the Mortgage Note attached thereto;

            (b) The original Mortgage, with evidence of recording thereon, and,
if the Mortgage was executed pursuant to a power of attorney, a certified true
copy of the power of attorney certified by the public recorder's office, with
evidence of recording thereon (if recording is customary in the jurisdiction in
which such power of attorney was executed), or certified by a title insurance
company or escrow company to be a true copy thereof; provided that if such
original Mortgage cannot be delivered with evidence of recording thereon on or
prior to the 45th day following the Closing Date because of a delay caused by
the public recording office where such original Mortgage has been delivered for
recordation or because such original Mortgage has been lost, the Seller shall
deliver or cause to be delivered to the Trustee a true and correct copy of such
Mortgage, together with (i) in the case of a delay caused by the public
recording office, an Officer's Certificate (as defined below) of the Seller
stating that such original Mortgage has been sent to the appropriate public
recording official for recordation or (ii) in the case of an original Mortgage
that has been lost after recordation, a certification by the appropriate county
recording office where such Mortgage is recorded that such copy is a true and
complete copy of the original recorded Mortgage;

            (c) The originals of all agreements modifying a Money Term or other
material modification, consolidation and extension agreements, if any, with
evidence of recording thereon, or if such original modification, consolidation
and extension agreements have been delivered to the appropriate recording office
for recordation and either has not yet been returned on or prior to the 45th day
following the Closing Date with evidence of recordation thereon or has been lost
after recordation, true copies of such modifications, consolidations and
extensions certified by the Seller together with (i) in the case of a delay
caused by the public recording office, an Officer's Certificate of the Seller
stating that such original modification, consolidation or extension agreement
has been dispatched or sent to the appropriate public recording official for
recordation or (ii) in the case of an original modification, consolidation or
extension agreement that has been lost after recordation, a certification by the
appropriate county recording office where such document is recorded that such a
copy is a true and complete copy of the original recorded modification,
consolidation or extension agreement, and the originals of all assumption
agreements, if any;

            (d) An original Assignment of Mortgage for each Mortgage Loan, in
form and substance acceptable for recording, signed by the holder of record in
favor of "LaSalle Bank National Association, as Trustee for Morgan Stanley Dean
Witter Capital I Inc., Commercial Mortgage Pass-Through Certificates, Series
2002-IQ2";

            (e) Originals of all intervening assignments of Mortgage, if any,
with evidence of recording thereon or, if such original assignments of Mortgage
have been delivered to the appropriate recorder's office for recordation,
certified true copies of such assignments of Mortgage certified by the Seller,
or, in the case of an original blanket intervening assignment of Mortgage
retained by the Seller, a copy thereof certified by the Seller or, if any
original intervening assignment of Mortgage has not yet been returned on or
prior to the 45th day following the Closing Date from the applicable recording
office or has been lost, a true and correct copy thereof, together with (i) in
the case of a delay caused by the public recording office, an Officer's
Certificate of the Seller stating that such original intervening assignment of
Mortgage has been sent to the appropriate public recording official for
recordation or (ii) in the case of an original intervening Assignment of
Mortgage that has been lost after recordation, a certification by the
appropriate county recording office where such assignment is recorded that such
copy is a true and complete copy of the original recorded intervening Assignment
of Mortgage;

            (f) If the related Assignment of Leases is separate from the
Mortgage, the original of such Assignment of Leases with evidence of recording
thereon or, if such Assignment of Leases has not been returned on or prior to
the 45th day following the Closing Date from the applicable public recording
office, a copy of such Assignment of Leases certified by the Seller to be a true
and complete copy of the original Assignment of Leases submitted for recording,
together with (i) an original of each assignment of such Assignment of Leases
with evidence of recording thereon and showing a complete recorded chain of
assignment from the named assignee to the holder of record, and if any such
assignment of such Assignment of Leases has not been returned from the
applicable public recording office, a copy of such assignment certified by the
Seller to be a true and complete copy of the original assignment submitted for
recording, and (ii) an original assignment of such Assignment of Leases, in
recordable form, signed by the holder of record in favor of "LaSalle Bank
National Association, as Trustee for Morgan Stanley Dean Witter Capital I Inc.,
Commercial Mortgage Pass-Through Certificates, Series 2002-IQ2," which
assignment may be effected in the related Assignment of Mortgage;

            (g) The original of each guaranty, if any, constituting additional
security for the repayment of such Mortgage Loan;

            (h) The original Title Insurance Policy, or in the event such
original Title Insurance Policy has not been issued, an original binder or
actual title commitment or a copy thereof certified by the title company with
the original Title Insurance Policy to follow within 180 days of the Closing
Date or a preliminary title report with an original Title Insurance Policy to
follow within 180 days of the Closing Date;

            (i) (A) UCC financing statements (together with all assignments
thereof) filed in connection with the Mortgage Loan and (B) UCC-2 or UCC-3
financing statements assigning such UCC financing statements to the Trustee;

            (j) Copies of the related ground lease(s), if any, to any Mortgage
Loan where the Mortgagor is the lessee under such ground lease and there is a
lien in favor of the mortgagee in such lease.

            (k) Copies of any loan agreements, lock-box agreements and
intercreditor agreements, if any, related to any Mortgage Loan;

            (l) Either (A) the original of each letter of credit, if any,
constituting additional collateral for such Mortgage Loan (other than letters of
credit representing tenant security deposits which have been collaterally
assigned to the lender), which shall be assigned and delivered to the Trustee on
behalf of the Trust with a copy to be held by the Primary Servicer (or the
Master Servicer), and applied, drawn, reduced or released in accordance with
documents evidencing or securing the applicable Mortgage Loan, the Pooling and
Servicing Agreement and the applicable Primary Servicing Agreement or (B) the
original of each letter of credit, if any, constituting additional collateral
for such Mortgage Loan (other than letters of credit representing tenant
security deposits which have been collaterally assigned to the lender), which
shall be assigned to and held by the Primary Servicer (or the Master Servicer)
on behalf of the Trustee, with a copy to be held by the Trustee, and applied,
drawn, reduced or released in accordance with documents evidencing or securing
the applicable Mortgage Loan, the Pooling and Servicing Agreement and the
applicable Primary Servicing Agreement (it being understood that the Seller has
agreed (a) that the proceeds of such letter of credit belong to the Trust, (b)
to notify, on or before the Closing Date, the bank issuing the letter of credit
that the letter of credit and the proceeds thereof belong to the Trust, and to
use reasonable efforts to obtain within 30 days (but in any event to obtain
within 90 days) following the Closing Date, an acknowledgement thereof by the
bank (with a copy of such acknowledgement to be sent to the Trustee) and (c) to
indemnify the Trust for any liabilities, charges, costs, fees or other expenses
accruing from the failure of the Seller to assign the letter of credit
hereunder). In the case of clause (B) above, any letter of credit held by the
Primary Servicer (or Master Servicer) shall be held in its capacity as agent of
the Trust, and if a Primary Servicer (or Master Servicer) sells its rights to
service the applicable Mortgage Loan, the applicable Primary Servicer (or Master
Servicer) has agreed to assign the applicable letter of credit to the Trust or
at the direction of the Special Servicer to such party as the Special Servicer
may instruct, in each case, at the expense of the Primary Servicer (or Master
Servicer). The Primary Servicer (or Master Servicer) has agreed to indemnify the
Trust for any loss caused by the ineffectiveness of such assignment;

            (m) The original environmental indemnity agreement, if any, related
to any Mortgage Loan;

            (n) Third-party management agreements, if any, for hotels and
mortgage properties with a Cut-Off Date balance equal to or greater than
$20,000,000;

            (o) Any Environmental Insurance Policy; and

            (p) Any indemnification agreement in favor of the lender.

            "Officer's Certificate" shall mean a certificate signed by one or
more of the Chairman of the Board, any Vice Chairman, the President, any
Managing Director, any Executive Vice President, any Director, any Senior Vice
President, any Vice President, any Assistant Vice President, any Treasurer, any
Assistant Treasurer, any Secretary or Assistant Secretary.

            The Assignments of Mortgage and assignment of Assignment of Leases
referred to in clauses (d), (e) and (f) may be in the form of a single
instrument assigning the Mortgage and the Assignment of Leases to the extent
permitted by applicable law. To avoid the unnecessary expense and administrative
inconvenience associated with the execution and recording or filing of multiple
assignments of mortgages, assignments of leases (to the extent separate from the
mortgages) and assignments of UCC financing statements, the Seller shall
execute, in accordance with the third succeeding paragraph, the assignments of
mortgages, the assignments of leases (to the extent separate from the mortgages)
and assignments of UCC financing statements relating to the Mortgage Loans
naming the Trustee on behalf of the Certificateholders as assignee.
Notwithstanding the fact that such assignments of mortgages, assignments of
leases (to the extent separate from the assignments of mortgages) and the
assignments of UCC financing statements shall name the Trustee on behalf of the
Certificateholders as the assignee, the parties hereto acknowledge and agree
that the Mortgage Loans shall for all purposes be deemed to have been
transferred from the Seller to the Purchaser and from the Purchaser to the
Trustee on behalf of the Certificateholders.

            If the Seller cannot deliver, or cause to be delivered, as to any
Mortgage Loan, any of the documents and/or instruments referred to in clauses
(b), (c), (e) or (f), with evidence of recording thereon, solely because of a
delay caused by the public recording office where such document or instrument
has been delivered for recordation within such 45 day period, but the Seller
delivers a true and correct copy thereof, to the Trustee as required by such
clause, the Seller shall then deliver promptly upon receipt from the appropriate
county recorder's office such original or photocopy.

            The Trustee, as assignee or transferee of the Purchaser, shall be
entitled to all scheduled payments of principal due on the Mortgage Loan after
the Cut-Off Date, all other payments of principal collected after the Cut-Off
Date (other than scheduled payments of principal due on or before the Cut-Off
Date), and all payments of interest on the Mortgage Loans allocable to the
period commencing on the Cut-Off Date. All scheduled payments of principal and
interest due on or before the Cut-Off Date and collected after the Cut-Off Date
shall belong to the Seller.

            Within 45 days following the Closing Date, the Seller shall deliver
and the Purchaser, the Trustee or the agents of either may submit or cause to be
submitted for recordation at the expense of the Seller, in the appropriate
public office for real property records, each assignment referred to in clauses
(d) and (f)(ii) above. Within 45 days following the Closing Date, the Seller
shall deliver and the Purchaser, the Trustee or the agents of either may submit
or cause to be submitted for filing, at the expense of the Seller, in the
appropriate public office for Uniform Commercial Code financing statements, the
assignment referred to in clause (i)(B) above. If any such document or
instrument is lost or returned unrecorded or unfiled, as the case may be,
because of a defect therein, the Seller shall prepare a substitute therefor or
cure such defect, and the Seller shall, at its own expense (except in the case
of a document or instrument that is lost by the Trustee), record or file, as the
case may be, and deliver such document or instrument in accordance with this
Section 2.

            Documents that are in the possession of the Seller, its agents or
its subcontractors that relate to the Mortgage Loans and that are not required
to be delivered to the Trustee shall be delivered by the Seller to the Master
Servicer or the applicable Primary Servicer or Sub-Servicer, on its behalf, on
or prior to the 45th day after the Closing Date.

            The documents required to be delivered to or on the behalf of the
Master Servicer shall consist of, to the extent required to be (and actually)
delivered to the Seller pursuant to the applicable Mortgage Loan documents,
copies of the following items: the Mortgage Note, any Mortgage, the Assignment
of Leases and the Assignment of Mortgage, any guaranty/indemnity agreement, any
loan agreement, the insurance policies or certificates, as applicable, the
property inspection reports, any financial statements on the property, any
escrow analysis, the tax bills, the Appraisal, the environmental report, the
engineering report, the asset summary, financial information on the
Borrower/sponsor and any guarantors, any letters of credit, any intercreditor
agreement and any Environmental Insurance Policies. Each of the foregoing items
shall be delivered in electronic form, to the extent such document is available
in such form and such form is reasonably acceptable to the Master Servicer. All
of the foregoing items shall be delivered no later than 45 days following the
Closing Date.

            Upon the sale of the Mortgage Loans by the Seller to the Purchaser
pursuant to this Agreement, the ownership of each Mortgage Note, Mortgage and
the other contents of the related Mortgage File shall be vested in the Purchaser
and its assigns, and the ownership of all records and documents with respect to
the related Mortgage Loan prepared by or that come into the possession of the
Seller shall immediately vest in the Purchaser and its assigns, and shall be
delivered promptly by the Seller to or on behalf of either the Trustee or the
Master Servicer as set forth herein. The Seller's and Purchaser's records shall
reflect the transfer of each Mortgage Loan from the Seller to the Purchaser and
its assigns as a sale.

            It is the express intent of the parties hereto that the conveyance
of the Mortgage Loans and related property to the Purchaser by the Seller as
provided in this Section 2 be, and be construed as, an absolute sale of the
Mortgage Loans and related property. It is, further, not the intention of the
parties that such conveyance be deemed a pledge of the Mortgage Loans and
related property by the Seller to the Purchaser to secure a debt or other
obligation of the Seller. However, in the event that, notwithstanding the intent
of the parties, the Mortgage Loans or any related property is held to be the
property of the Seller, or if for any other reason this Agreement is held or
deemed to create a security interest in the Mortgage Loans or any related
property, then:

            (i) this Agreement shall be deemed to be a security agreement; and

            (ii) the conveyance provided for in this Section 2 shall be deemed
      to be a grant by the Seller to the Purchaser of a security interest in all
      of the Seller's right, title, and interest, whether now owned or hereafter
      acquired, in and to:

                  (A) All accounts, general intangibles, chattel paper,
            instruments, documents, money, deposit accounts, certificates of
            deposit, goods, letters of credit, advices of credit and investment
            property consisting of, arising from or relating to any of the
            following property: the Mortgage Loans identified on the Mortgage
            Loan Schedule, including the related Mortgage Notes, Mortgages,
            security agreements, and title, hazard and other insurance policies,
            all distributions with respect thereto described as belonging to the
            Purchaser in the sixth paragraph of this Section 2, all substitute
            or replacement Mortgage Loans and all distributions with respect
            thereto, and the Mortgage Files;

                  (B) All accounts, general intangibles, chattel paper,
            instruments, documents, money, deposit accounts, certificates of
            deposit, goods, letters of credit, advices of credit, investment
            property and other rights arising from or by virtue of the
            disposition of, or collections with respect to, or insurance
            proceeds payable with respect to, or claims against other Persons
            with respect to, all or any part of the collateral described in
            clause (A) above (including any accrued discount realized on
            liquidation of any investment purchased at a discount); and

                  (C) All cash and non-cash proceeds of the collateral described
            in clauses (A) and (B) above.

            The possession by the Purchaser or its designee of the Mortgage
Notes, the Mortgages, and such other goods, letters of credit, advices of
credit, instruments, money, documents, chattel paper or certificated securities
shall be deemed to be possession by the secured party or possession by a
purchaser for purposes of perfecting the security interest pursuant to the
Uniform Commercial Code (including, without limitation, Sections 9-305 and 9-115
thereof) as in force in the relevant jurisdiction. Notwithstanding the
foregoing, the Seller makes no representation or warranty as to the perfection
of any such security interest.

            Notifications to Persons holding such property, and acknowledgments,
receipts, or confirmations from persons holding such property, shall be deemed
to be notifications to, or acknowledgments, receipts or confirmations from,
securities intermediaries, bailees or agents of, or Persons holding for, the
Purchaser or its designee, as applicable, for the purpose of perfecting such
security interest under applicable law.

            The Seller shall, to the extent consistent with this Agreement, take
such reasonable actions as may be necessary to ensure that, if this Agreement
were deemed to create a security interest in the property described above, such
security interest would be deemed to be a perfected security interest of first
priority under applicable law and will be maintained as such throughout the term
of the Agreement. In such case, the Seller shall file all filings necessary to
maintain the effectiveness of any original filings necessary under the Uniform
Commercial Code as in effect in any jurisdiction to perfect such security
interest in such property. In connection herewith, the Purchaser shall have all
of the rights and remedies of a secured party and creditor under the Uniform
Commercial Code as in force in the relevant jurisdiction.

            Notwithstanding anything to the contrary contained herein, and
subject to Section 2(a), the Purchaser shall not be required to purchase any
Mortgage Loan as to which any Mortgage Note (endorsed as described in clause (a)
above) or lost note affidavit and indemnity required to be delivered to or on
behalf of the Trustee or the Master Servicer pursuant to this Section 2 on or
before the Closing Date is not so delivered, or is not properly executed or is
defective on its face, and the Purchaser's acceptance of the related Mortgage
Loan on the Closing Date shall in no way constitute a waiver of such omission or
defect or of the Purchaser's or its successors' and assigns' rights in respect
thereof pursuant to Section 5.

            Section 3. Examination of Mortgage Files and Due Diligence Review.
The Seller shall (i) deliver to the Purchaser on or before the Closing Date a
diskette acceptable to the Purchaser that contains such information about the
Mortgage Loans as may be reasonably requested by the Purchaser, (ii) deliver to
the Purchaser investor files (collectively the "Collateral Information") with
respect to the assets proposed to be included in the Mortgage Pool and made
available at the Purchaser's headquarters in New York, and (iii) otherwise
cooperate fully with the Purchaser in its examination of the credit files,
underwriting documentation and Mortgage Files for the Mortgage Loans and its due
diligence review of the Mortgage Loans. The fact that the Purchaser has
conducted or has failed to conduct any partial or complete examination of the
credit files, underwriting documentation or Mortgage Files for the Mortgage
Loans shall not affect the right of the Purchaser or the Trustee to cause the
Seller to cure any Material Document Defect or Material Breach (each as defined
below), or to repurchase or replace the defective Mortgage Loans pursuant to
Section 5 of this Agreement.

            On or prior to the Closing Date, the Seller shall allow
representatives of any of the Purchaser, each Underwriter, each Initial
Purchaser, the Trustee, the Special Servicer and each Rating Agency to examine
and audit all books, records and files pertaining to the Mortgage Loans, the
Seller's underwriting procedures and the Seller's ability to perform or observe
all of the terms, covenants and conditions of this Agreement. Such examinations
and audits shall take place at one or more offices of the Seller upon reasonable
prior advance notice during normal business hours and shall not be conducted in
a manner that is disruptive to the Seller's normal business operations. In the
course of such examinations and audits, the Seller will make available to such
representatives of any of the Purchaser, each Underwriter, each Initial
Purchaser, the Trustee, the Special Servicer and each Rating Agency reasonably
adequate facilities, as well as the assistance of a sufficient number of
knowledgeable and responsible individuals who are familiar with the Mortgage
Loans and the terms of this Agreement, and the Seller shall cooperate fully with
any such examination and audit in all material respects. On or prior to the
Closing Date, the Seller shall provide the Purchaser with all material
information regarding the Seller's financial condition and access to
knowledgeable financial or accounting officers for the purpose of answering
questions with respect to the Seller's financial condition, financial statements
as provided to the Purchaser or other developments affecting the Seller's
ability to consummate the transactions contemplated hereby or otherwise
affecting the Seller in any material respect. Within 45 days after the Closing
Date, the Seller shall provide the Master Servicer or Primary Servicer, if
applicable, with any additional information identified by the Master Servicer or
Primary Servicer, if applicable, as necessary to complete the CMSA Property
File, to the extent that such information is available.

            The Purchaser may exercise any of its rights hereunder through one
or more designees or agents; provided the Purchaser has provided the Seller with
prior notice of the identity of such designee or agent.

            The Purchaser shall keep confidential any information regarding the
Seller and the Mortgage Loans that has been delivered into the Purchaser's
possession and that is not otherwise publicly available; provided, however, that
such information shall not be kept confidential (and the right to require
confidentiality under any confidentiality agreement is hereby waived) to the
extent such information is required to be included in the Memorandum or the
Prospectus Supplement or the Purchaser is required by law or court order to
disclose such information. If the Purchaser is required to disclose in the
Memorandum or the Prospectus Supplement confidential information regarding the
Seller as described in the preceding sentence, the Purchaser shall provide to
the Seller a copy of the proposed form of such disclosure prior to making such
disclosure and the Seller shall promptly, and in any event within two Business
Days, notify the Purchaser of any inaccuracies therein, in which case the
Purchaser shall modify such form in a manner that corrects such inaccuracies. If
the Purchaser is required by law or court order to disclose confidential
information regarding the Seller as described in the second preceding sentence,
the Purchaser shall notify the Seller and cooperate in the Seller's efforts to
obtain a protective order or other reasonable assurance that confidential
treatment will be accorded such information and, if in the absence of a
protective order or such assurance, the Purchaser is compelled as a matter of
law to disclose such information, the Purchaser shall, prior to making such
disclosure, advise and consult with the Seller and its counsel as to such
disclosure and the nature and wording of such disclosure and the Purchaser shall
use reasonable efforts to obtain confidential treatment therefor.
Notwithstanding the foregoing, if reasonably advised by counsel that the
Purchaser is required by a regulatory agency or court order to make such
disclosure immediately, then the Purchaser shall be permitted to make such
disclosure without prior review by the Seller.

            Section 4. Representations and Warranties of the Seller and the
Purchaser.

            (a) To induce the Purchaser to enter into this Agreement, the Seller
hereby makes for the benefit of the Purchaser and its assigns with respect to
each Mortgage Loan as of the date hereof (or as of such other date specifically
set forth in the particular representation and warranty) each of the
representations and warranties set forth on Exhibit 2 hereto, except as
otherwise set forth on Schedule A attached hereto, and hereby further represents
and warrants to the Purchaser as of the date hereof that:

            (i) The Seller is duly organized and is validly existing as a
      non-profit legal reserve life insurance and annuity company organized and
      in good standing under the laws of the State of New York. The Seller has
      the requisite power and authority and legal right to own the Mortgage
      Loans and to transfer and convey the Mortgage Loans to the Purchaser and
      has the requisite power and authority to execute and deliver, engage in
      the transactions contemplated by, and perform and observe the terms and
      conditions of, this Agreement.

            (ii) This Agreement has been duly and validly authorized, executed
      and delivered by the Seller, and assuming the due authorization, execution
      and delivery hereof by the Purchaser, this Agreement constitutes the
      valid, legal and binding agreement of the Seller, enforceable in
      accordance with its terms, except as such enforcement may be limited by
      (A) laws relating to bankruptcy, insolvency, reorganization, receivership
      or moratorium, (B) other laws relating to or affecting the rights of
      creditors generally, (C) general equity principles (regardless of whether
      such enforcement is considered in a proceeding in equity or at law) or (D)
      public policy considerations underlying the securities laws, to the extent
      that such public policy considerations limit the enforceability of the
      provisions of this Agreement that purport to provide indemnification from
      liabilities under applicable securities laws.

            (iii) No consent, approval, authorization or order of, registration
      or filing with, or notice to, any governmental authority or court is
      required, under federal or state law, for the execution, delivery and
      performance of or compliance by the Seller with this Agreement, or the
      consummation by the Seller of any transaction contemplated hereby, other
      than (1) such qualifications as may be required under state securities or
      blue sky laws, (2) the filing or recording of financing statements,
      instruments of assignment and other similar documents necessary in
      connection with the Seller's sale of the Mortgage Loans to the Purchaser,
      (3) such consents, approvals, authorizations, qualifications,
      registrations, filings or notices as have been obtained and (4) where the
      lack of such consent, approval, authorization, qualification,
      registration, filing or notice would not have a material adverse effect on
      the performance by the Seller under this Agreement.

            (iv) Neither the transfer of the Mortgage Loans to the Purchaser,
      nor the execution, delivery or performance of this Agreement by the
      Seller, conflicts or will conflict with, results or will result in a
      breach of, or constitutes or will constitute a default under (A) any term
      or provision of the Seller's articles of organization or by-laws, (B) any
      term or provision of any material agreement, contract, instrument or
      indenture to which the Seller is a party or by which it or any of its
      assets is bound or results in the creation or imposition of any lien,
      charge or encumbrance upon any of its property pursuant to the terms of
      any such indenture, mortgage, contract or other instrument, other than
      pursuant to this Agreement, or (C) after giving effect to the consents or
      taking of the actions contemplated in subsection (iii), any law, rule,
      regulation, order, judgment, writ, injunction or decree of any court or
      governmental authority having jurisdiction over the Seller or its assets,
      except where in any of the instances contemplated by clauses (B) or (C)
      above, any conflict, breach or default, or creation or imposition of any
      lien, charge or encumbrance, will not have a material adverse effect on
      the consummation of the transactions contemplated hereby by the Seller or
      materially and adversely affects its ability to perform its obligations
      and duties hereunder or result in any material adverse change in the
      business, operations, financial condition, properties or assets of the
      Seller, or in any material impairment of the right or ability of the
      Seller to carry on its business substantially as now conducted.

            (v) There are no actions or proceedings against, or investigations
      of, the Seller pending or, to the Seller's knowledge, threatened in
      writing against the Seller before any court, administrative agency or
      other tribunal, the outcome of which could reasonably be expected to
      materially and adversely affect the transfer of the Mortgage Loans to the
      Purchaser or the execution or delivery by, or enforceability against, the
      Seller of this Agreement or have an effect on the financial condition of
      the Seller that would materially and adversely affect the ability of the
      Seller to perform its obligations under this Agreement.

            (vi) On the Closing Date, the sale of the Mortgage Loans pursuant to
      this Agreement will effect a transfer by the Seller of all of its right,
      title and interest in and to the Mortgage Loans to the Purchaser (assuming
      the Purchaser has the capacity to acquire such Mortgage Loans).

            (vii) To the Seller's knowledge, the Seller's Information (as
      defined in that certain indemnification agreement, dated June 1, 2002,
      between the Seller, the Purchaser, the Underwriters and the Initial
      Purchaser (the "Indemnification Agreement")) relating to the Mortgage
      Loans does not contain any untrue statement of a material fact or omit to
      state a material fact necessary to make the statements therein, in the
      light of the circumstances under which they were made, not misleading.
      Notwithstanding anything contained herein to the contrary, this
      subparagraph (vii) shall run exclusively to the benefit of the Purchaser
      and no other party.

            To induce the Purchaser to enter into this Agreement, the Seller
hereby covenants that the foregoing representations and warranties and those set
forth on Exhibit 2 hereto will be true and correct in all material respects on
and as of the Closing Date with the same effect as if made on the Closing Date
(or as of such other date specifically set forth in the particular
representation and warranty).

            Each of the representations, warranties and covenants made by the
Seller pursuant to this Section 4(a) shall survive the sale of the Mortgage
Loans and shall continue in full force and effect notwithstanding any
restrictive or qualified endorsement on the Mortgage Notes.

            (b) To induce the Seller to enter into this Agreement, the Purchaser
hereby represents and warrants to the Seller as of the date hereof:

            (i) The Purchaser is a corporation duly organized, validly existing,
      and in good standing under the laws of the State of Delaware with full
      power and authority to carry on its business as presently conducted by it.

            (ii) The Purchaser has full power and authority to acquire the
      Mortgage Loans, to execute and deliver this Agreement and to enter into
      and consummate all transactions contemplated by this Agreement. The
      Purchaser has duly and validly authorized the execution, delivery and
      performance of this Agreement and has duly and validly executed and
      delivered this Agreement. This Agreement, assuming due authorization,
      execution and delivery by the Seller, constitutes the valid and binding
      obligation of the Purchaser, enforceable against it in accordance with its
      terms, except as such enforceability may be limited by bankruptcy,
      insolvency, reorganization, moratorium and other similar laws affecting
      the enforcement of creditors' rights generally and by general principles
      of equity, regardless of whether such enforcement is considered in a
      proceeding in equity or at law.

            (iii) No consent, approval, authorization or order of, registration
      or filing with, or notice to, any governmental authority or court is
      required, under federal or state law, for the execution, delivery and
      performance of or compliance by the Purchaser with this Agreement, or the
      consummation by the Purchaser of any transaction contemplated hereby that
      has not been obtained or made by the Purchaser.

            (iv) Neither the purchase of the Mortgage Loans nor the execution,
      delivery and performance of this Agreement by the Purchaser will violate
      the Purchaser's certificate of incorporation or by-laws or constitute a
      default (or an event that, with notice or lapse of time or both, would
      constitute a default) under, or result in a breach of, any material
      agreement, contract, instrument or indenture to which the Purchaser is a
      party or that may be applicable to the Purchaser or its assets.

            (v) The Purchaser's execution and delivery of this Agreement and its
      performance and compliance with the terms of this Agreement will not
      constitute a violation of, any law, rule, writ, injunction, order or
      decree of any court, or order or regulation of any federal, state or
      municipal government agency having jurisdiction over the Purchaser or its
      assets, which violation could materially and adversely affect the
      condition (financial or otherwise) or the operation of the Purchaser or
      its assets or could materially and adversely affect its ability to perform
      its obligations and duties hereunder.

            (vi) There are no actions or proceedings against, or investigations
      of, the Purchaser pending or, to the Purchaser's knowledge, threatened
      against the Purchaser before any court, administrative agency or other
      tribunal, the outcome of which could reasonably be expected to adversely
      affect the transfer of the Mortgage Loans, the issuance of the
      Certificates, the execution, delivery or enforceability of this Agreement
      or have an effect on the financial condition of the Purchaser that would
      materially and adversely affect the ability of the Purchaser to perform
      its obligation under this Agreement.

            (vii) The Purchaser has not dealt with any broker, investment
      banker, agent or other person, other than the Seller, the Underwriters,
      the Initial Purchaser and their respective affiliates, that may be
      entitled to any commission or compensation in connection with the sale of
      the Mortgage Loans or consummation of any of the transactions contemplated
      hereby.

            To induce the Seller to enter into this Agreement, the Purchaser
hereby covenants that the foregoing representations and warranties will be true
and correct in all material respects on and as of the Closing Date with the same
effect as if made on the Closing Date.

            Each of the representations and warranties made by the Purchaser
pursuant to this Section 4(b) shall survive the purchase of the Mortgage Loans.

            Section 5. Remedies Upon Breach of Representations and Warranties
Made by the Seller.

            (a) It is hereby acknowledged that the Purchaser shall assign its
rights under this Section 5 to Trustee on behalf of the holders of the
Certificates.

            (b) It is hereby further acknowledged that if any document required
to be delivered to the Trustee pursuant to Section 2 is not delivered as and
when required, not properly executed or is defective on its face, or if there is
a breach of any of the representations and warranties required to be made by the
Seller regarding the characteristics of the Mortgage Loans and/or the related
Mortgaged Properties as set forth in Exhibit 2 hereto, and in either case such
defect or breach, either (i) materially and adversely affects the interests of
the holders of the Certificates in the related Mortgage Loan, or (ii) both (A)
materially and adversely affects the value of the Mortgage Loan and (B) the
Mortgage Loan is a Specially Serviced Mortgage Loan or Rehabilitated Mortgage
Loan (such a document defect described in the preceding clause (i) or (ii), a
"Material Document Defect" and such a breach described in the preceding clause
(i) or (ii) a "Material Breach"), the party discovering such Material Document
Defect or Material Breach shall promptly notify the other parties in writing.
Promptly (but in any event within three Business Days) upon becoming aware of
any such Material Document Defect or Material Breach, the Master Servicer shall,
and the Special Servicer may, request that the Seller, not later than 90 days
from the Seller's receipt of the notice of such Material Document Defect or
Material Breach, cure such Material Document Defect or Material Breach, as the
case may be, in all material respects; provided, however, that if such Material
Document Defect or Material Breach, as the case may be, cannot be corrected or
cured in all material respects within such 90-day period, and such Material
Document Defect or Material Breach would not cause the Mortgage Loan to be other
than a "qualified mortgage" (as defined in the Code) but the Seller is
diligently attempting to effect such correction or cure, as certified by the
Seller in an Officer's Certificate delivered to the Trustee, then the cure
period will be extended for an additional 90 days unless, solely in the case of
a Material Document Defect, (x) the Mortgage Loan is then a Specially Serviced
Mortgage Loan and a Servicing Transfer Event has occurred as a result of a
monetary default or as described in clause (ii) or clause (v) of the definition
of "Servicing Transfer Event" in the Pooling and Servicing Agreement and (y) the
Material Document Defect was identified in a certification delivered to the
Seller by the Trustee pursuant to Section 2.2 of the Pooling and Servicing
Agreement not less than 90 days prior to the delivery of the notice of such
Material Document Defect. The parties acknowledge that neither delivery of a
certification or schedule of exceptions to the Seller pursuant to Section 2.2 of
the Pooling and Servicing Agreement or otherwise nor possession of such
certification or schedule by the Seller shall, in and of itself, constitute
delivery of notice of any Material Document Defect or knowledge or awareness by
the Seller of any Material Document Defect listed therein. It is understood and
agreed that the 90-day limit will not be violated as a result of recording
office or UCC filing office delays, other than with respect to a Material
Document Defect or Material Breach that would cause the Mortgage Loan to be
other than a "qualified mortgage" (as defined in the Code). In addition,
following the date on which such document is required to be delivered pursuant
to Section 2, any of the following document defects shall be conclusively
presumed to materially and adversely to affect the interests of holders of the
Certificates in the related Mortgage Loan and be a Material Document Defect: (a)
the absence from the Mortgage File of the original signed Mortgage Note, unless
the Mortgage File contains a signed lost note affidavit and indemnity; (b) the
absence from the Mortgage File of the original signed Mortgage, unless there is
included in the Mortgage File a true and correct copy of the Mortgage together
with an Officer's Certificate or certification as required by Section 2(b); or
(c) the absence from the Mortgage File of the original Title Insurance Policy or
an original binder as required by Section 2(h). If any of the foregoing Material
Document Defects are discovered by any party to the Pooling and Servicing
Agreement, the Trustee (or as set forth in the Pooling and Servicing Agreement,
the Master Servicer) will, among other things, give notice to the Rating
Agencies and the parties to the Pooling and Servicing Agreement and make demand
upon the Seller for the cure of the document defect or repurchase or replacement
of the related Mortgage Loan.

            The Seller hereby covenants and agrees that, if any such Material
Document Defect or Material Breach cannot be corrected or cured within the above
cure periods, the related Seller shall, on or before the termination of such
cure periods, either (i) repurchase the related Mortgage Loan or REO Mortgage
Loan from the Purchaser or its assignee at the Purchase Price as defined in the
Pooling and Servicing Agreement, or (ii) if within the two-year period
commencing on the Closing Date at its option replace any Mortgage Loan or REO
Mortgage Loan to which such defect relates with a Qualifying Substitute Mortgage
Loan. If such Material Document Defect or Material Breach would cause the
Mortgage Loan to be other than a "qualified mortgage" (as defined in the Code),
then notwithstanding the previous sentence, repurchase or substitution must
occur within 90 days from the earlier of the date the Seller discovered or was
notified of the defect or breach. The Seller agrees that any such substitution
shall be completed in accordance with the terms and conditions of the Pooling
and Servicing Agreement.

            If (i) a Mortgage Loan is to be repurchased or replaced as
contemplated above, (ii) such Mortgage Loan is cross-collateralized and
cross-defaulted with one or more other Mortgage Loans in the Trust and (iii) the
applicable document defect or breach does not constitute a Material Document
Defect or Material Breach, as the case may be, as to such other Mortgage Loans
(without regard to this paragraph), then the applicable document defect or
breach (as the case may be) shall be deemed to constitute a Material Document
Defect or Material Breach, as the case may be, as to each such other Mortgage
Loan for purposes of the above provisions, and the Seller shall be obligated to
repurchase or replace each such other Mortgage Loan in accordance with the
provisions above, unless, in the case of such breach or document defect, both of
the following conditions would be satisfied if the Seller were to repurchase or
replace only those Mortgage Loans as to which a Material Breach had occurred
without regard to this paragraph (the "Affected Loan(s)"): (1) the debt service
coverage ratio for all such other Mortgage Loans (excluding the Affected
Loan(s)) for the four calendar quarters immediately preceding the repurchase or
replacement is not less than 0.10x below the lesser of (x) the debt service
coverage ratio for all such Mortgage Loans (including the Affected Loans(s)) set
forth in Appendix II to the Final Prospectus Supplement and (y) the debt service
coverage ratio for all such other Mortgage Loans that are cross-collateralized
and cross-defaulted with one another (including the Affected Loan(s)) for the
four preceding calendar quarters preceding the repurchase or replacement, and
(2) the loan-to-value ratio for all such other Mortgage Loans (excluding the
Affected Loan(s)) is not greater than 10% more than the greater of (x) the
loan-to-value ratio for all such Mortgage Loans (including the Affected Loan(s))
set forth in Appendix II to the Final Prospectus Supplement and (y) the
loan-to-value ratio for all such Mortgage Loans that are cross-collateralized
and cross-defaulted with one another (including the Affected Loans(s)). The
determination of the Master Servicer as to whether either of the conditions set
forth above has been satisfied shall be conclusive and binding in the absence of
manifest error. The Master Servicer will be entitled to, or direct the Seller
to, cause to be delivered to the Master Servicer at the Seller's expense an
Appraisal of any or all of the related Mortgaged Properties for purposes of
determining whether the condition set forth in clause (2) above has been
satisfied, in each case at the expense of the Seller if the scope and cost of
the Appraisal is approved by the Seller (such approval not to be unreasonably
withheld).

            With respect to any Mortgage Loan that is cross-defaulted and/or
cross-collateralized with any other Mortgage Loan conveyed hereunder, to the
extent that the Seller is required to repurchase or substitute for such Mortgage
Loan (each, a "Repurchased Loan") in the manner prescribed above while the
Trustee (as assignee of the Purchaser) continues to hold any other Mortgage Loan
that is cross-collateralized and/or cross-defaulted (each, a
"Cross-Collateralized Loan") with such Repurchased Mortgage Loan, the Seller and
the Purchaser hereby agree to forbear from enforcing any remedies against the
other's Primary Collateral but may exercise remedies against the Primary
Collateral securing their respective Mortgage Loans, including with respect to
the Trustee, the Primary Collateral securing the Mortgage Loans still held by
the Trustee, so long as such exercise does not impair the ability of the other
party to exercise its remedies against its Primary Collateral. If the exercise
of remedies by one party would impair the ability of the other party to exercise
its remedies with respect to the Primary Collateral securing the Mortgage Loan
or Mortgage Loans held by such party, then both parties shall forbear from
exercising such remedies until the loan documents evidencing and securing the
relevant Mortgage Loans can be modified in a manner that complies with the
Pooling and Servicing Agreement to remove the threat of impairment as a result
of the exercise of remedies. Any reserve or other cash collateral or letters of
credit securing the Cross-Collateralized Loans shall be allocated between such
Mortgage Loans in accordance with the Mortgage Loan documents, or otherwise on a
pro rata basis based upon their outstanding Principal Balances. All other terms
of the Mortgage Loans shall remain in full force and effect, without any
modification thereof. The Mortgagors set forth on Schedule B hereto are intended
third-party beneficiaries of the provisions set forth in this paragraph and the
preceding paragraph. The provisions of this paragraph and the preceding
paragraph may not be modified with respect to any Mortgage Loan without the
related Mortgagor's consent.

            The Seller shall be notified promptly and in writing by (i) the
Trustee of any notice that it receives that an Option Holder intends to exercise
its Option to purchase the Mortgage Loan in accordance with and as described in
Section 9.36 of the Pooling and Servicing Agreement and (ii) the Special
Servicer of any offer that it receives to purchase the applicable REO Property,
each in connection with such liquidation. Upon the receipt of such notice by the
Seller, the Seller shall then have the right to repurchase the related Mortgage
Loan or REO Property, as applicable, from the Trust at a purchase price equal
to, in the case of clause (i) of the immediately preceding sentence, the Option
Purchase Price or, in the case of clause (ii) of the immediately preceding
sentence, the amount of such offer. Notwithstanding anything to the contrary
contained in this Agreement or in the Pooling and Servicing Agreement, the right
of any Option Holder to purchase such Mortgage Loan shall be subject and
subordinate to the Seller's right to purchase such Mortgage Loan as described in
the immediately preceding sentence. The Seller shall have five (5) Business Days
with respect to the purchase of such Mortgage Loan or REO Property to notify the
Trustee or Special Servicer, as applicable, of its intent to so purchase the
Mortgage Loan or related REO Property from the date that it was notified of such
intention to exercise such Option or of such offer. The Special Servicer shall
be obligated to provide the Seller with any appraisal or other third party
reports relating to the Mortgaged Property within its possession to enable the
Seller to evaluate the Mortgage Loan or REO Property. Any sale of the Mortgage
Loan, or foreclosure upon such Mortgage Loan and sale of the REO Property, to a
Person other than the Seller shall be without (i) recourse of any kind (either
expressed or implied) by such Person against the Seller and (ii) representation
or warranty of any kind (either expressed or implied) by the Seller to or for
the benefit of such person.

            The obligations of the Seller set forth in this Section 5(b) to cure
a Material Document Defect or a Material Breach or repurchase or replace a
defective Mortgage Loan constitute the sole remedies of the Purchaser or its
assignees with respect to a Material Document Defect or Material Breach in
respect of an outstanding Mortgage Loan; provided, that this limitation shall
not in any way limit the Purchaser's rights or remedies upon breach of any other
representation or warranty or covenant by the Seller set forth in this Agreement
(other than those set forth in Exhibit 2).

            Notwithstanding the foregoing, in the event that there is a breach
of the representation and warranty set forth in paragraph 43 of Exhibit 2
attached hereto and, as a result, the payments by a Mortgagor of reasonable
costs and expenses associated with the defeasance or assumption of a Mortgage
Loan are insufficient causing the Trust to incur any Additional Trust Expense,
the Seller hereby covenants and agrees to reimburse the Trust in an amount
sufficient to avoid such Additional Trust Expense. The parties hereto
acknowledge that such reimbursement shall be the Seller's sole obligation with
respect to the breach discussed in the previous sentence.

            (c) The Pooling and Servicing Agreement shall provide that the
Trustee (or the Master Servicer or the Special Servicer on its behalf) shall
give written notice within three Business Days to the Seller of its discovery of
any Material Document Defect or Material Breach and prompt written notice to the
Seller in the event that any Mortgage Loan becomes a Specially Serviced Mortgage
Loan (as defined in the Pooling and Servicing Agreement).

            (d) If the Seller repurchases any Mortgage Loan pursuant to this
Section 5, the Purchaser or its assignee, following receipt by the Trustee of
the Purchase Price therefor, promptly shall deliver or cause to be delivered to
the Seller all Mortgage Loan documents with respect to such Mortgage Loan
(including, without limitation, all documents delivered by Seller pursuant to
Section 2 of this Agreement), and each document that constitutes a part of the
Mortgage File that was endorsed or assigned to the Trustee shall be endorsed and
assigned to the Seller in the same manner such that the Seller shall be vested
with legal and beneficial title to such Mortgage Loan, in each case without
recourse, representation, or warranty, including any property acquired in
respect of such Mortgage Loan or proceeds of any insurance policies with respect
thereto.

            Section 6. Closing. The closing of the sale of the Mortgage Loans
shall be held at the offices of Cadwalader, Wickersham & Taft, 100 Maiden Lane,
New York, NY 10038 at 9:00 a.m., New York time, on the Closing Date.

            The closing shall be subject to each of the following conditions:

            (a) All of the representations and warranties of the Seller and the
Purchaser specified in Section 4 of this Agreement (including, without
limitation, the representations and warranties set forth on Exhibit 2 to this
Agreement) shall be true and correct as of the Closing Date (or as of such other
date specifically set forth in the particular representation and warranty) (to
the extent of the standard, if any, set forth in each representation and
warranty).

            (b) All Closing Documents specified in Section 7 of this Agreement,
in such forms as are agreed upon and reasonably acceptable to the Seller or the
Purchaser, as applicable, shall be duly executed and delivered by all
signatories as required pursuant to the respective terms thereof.

            (c) The Seller shall have delivered and released to the Purchaser or
its designee all documents required to be delivered to the Purchaser as of the
Closing Date pursuant to Section 2 of this Agreement.

            (d) The result of the examination and audit performed by the
Purchaser and its affiliates pursuant to Section 3 hereof shall be satisfactory
to the Purchaser and its affiliates in their sole determination and the parties
shall have agreed to the form and contents of the Seller's Information to be
disclosed in the Memorandum and the Prospectus Supplement.

            (e) All other terms and conditions of this Agreement required to be
complied with on or before the Closing Date shall have been complied with, and
the Seller and the Purchaser shall have the ability to comply with all terms and
conditions and perform all duties and obligations required to be complied with
or performed after the Closing Date.

            (f) The Seller shall have paid all fees and expenses payable by it
to the Purchaser pursuant to Section 8 hereof.

            (g) The Certificates to be so rated shall have been assigned ratings
by each Rating Agency no lower than the ratings specified for each such Class in
the Memorandum and the Prospectus Supplement.

            (h) No Underwriter shall have terminated the Underwriting Agreement
and the Initial Purchaser shall not have terminated the Certificate Purchase
Agreement.

            (i) The Seller shall have received the purchase price for the
Mortgage Loans pursuant to Section 1 hereof.

            Each party agrees to use its best efforts to perform its respective
obligations hereunder in a manner that will enable the Purchaser to purchase the
Mortgage Loans on the Closing Date.

            Section 7. Closing Documents. The Closing Documents shall consist of
the following:

            (a) This Agreement duly executed by the Purchaser and the Seller.

            (b) A certificate of the Seller, executed by a duly authorized
officer of the Seller and dated the Closing Date, and upon which the Purchaser
and its successors and assigns may rely, to the effect that: (i) the
representations and warranties of the Seller in this Agreement are true and
correct in all material respects on and as of the Closing Date with the same
force and effect as if made on the Closing Date, provided that any
representations and warranties made as of a specified date shall be true and
correct as of such specified date; and (ii) the Seller has complied with all
agreements and satisfied all conditions on its part to be performed or satisfied
on or prior to the Closing Date.

            (c) True, complete and correct copies of the Seller's articles of
organization and by-laws.

            (d) A certificate of good standing for the Seller from the Secretary
of State of New York dated not earlier than 30 days prior to the Closing Date.

            (e) A certificate of the Secretary or Assistant Secretary of the
Seller, dated the Closing Date, and upon which the Purchaser may rely, to the
effect that each individual who, as an officer or representative of the Seller,
signed this Agreement or any other document or certificate delivered on or
before the Closing Date in connection with the transactions contemplated herein,
was at the respective times of such signing and delivery, and is as of the
Closing Date, duly elected or appointed, qualified and acting as such officer or
representative, and the signatures of such persons appearing on such documents
and certificates are their genuine signatures.

            (f) An opinion of counsel (which, other than as to the opinion
described in paragraph (vi) below, may be in-house counsel) to the Seller, dated
the Closing Date, substantially to the effect of the following (with such
changes and modifications as the Purchaser may approve and subject to such
counsel's reasonable qualifications):

            (i) The Seller is validly existing under New York law and has full
      corporate power and authority to enter into and perform its obligations
      under this Agreement.

            (ii) This Agreement has been duly authorized, executed and delivered
      by the Seller.

            (iii) No consent, approval, authorization or order of any federal
      court or governmental agency or body is required for the consummation by
      the Seller of the transactions contemplated by the terms of this Agreement
      except any approvals as have been obtained.

            (iv) Neither the execution, delivery or performance of this
      Agreement by the Seller, nor the consummation by the Seller of any of the
      transactions contemplated by the terms of this Agreement (A) conflicts
      with or results in a breach or violation of, or constitute a default
      under, the organizational documents of the Seller, (B) to the knowledge of
      such counsel, constitutes a default under any term or provision of any
      material agreement, contract, instrument or indenture, to which the Seller
      is a party or by which it or any of its assets is bound or result in the
      creation or imposition of any lien, charge or encumbrance upon any of its
      property pursuant to the terms of any such indenture, mortgage, contract
      or other instrument, other than pursuant to this Agreement, or (C)
      conflicts with or results in a breach or violation of any law, rule,
      regulation, order, judgment, writ, injunction or decree of any court or
      governmental authority having jurisdiction over the Seller or its assets,
      except where in any of the instances contemplated by clauses (B) or (C)
      above, any conflict, breach or default, or creation or imposition of any
      lien, charge or encumbrance, will not have a material adverse effect on
      the consummation of the transactions contemplated hereby by the Seller or
      materially and adversely affect its ability to perform its obligations and
      duties hereunder or result in any material adverse change in the business,
      operations, financial condition, properties or assets of the Seller, or in
      any material impairment of the right or ability of the Seller to carry on
      its business substantially as now conducted.

            (v) To his or her knowledge, there are no legal or governmental
      actions, investigations or proceedings pending to which the Seller is a
      party, or threatened against the Seller, (a) asserting the invalidity of
      this Agreement or (b) which materially and adversely affect the
      performance by the Seller of its obligations under, or the validity or
      enforceability of, this Agreement.

            (vi) This Agreement is a valid, legal and binding agreement of the
      Seller, enforceable against the Seller in accordance with its terms,
      except as such enforcement may be limited by (1) laws relating to
      bankruptcy, insolvency, reorganization, receivership or moratorium, (2)
      other laws relating to or affecting the rights of creditors generally, (3)
      general equity principles (regardless of whether such enforcement is
      considered in a proceeding in equity or at law) or (4) public policy
      considerations underlying the securities laws, to the extent that such
      public policy considerations limit the enforceability of the provisions of
      this Agreement that purport to provide indemnification from liabilities
      under applicable securities laws.

            Such opinion may express its reliance as to factual matters on,
among other things specified in such opinion, the representations and warranties
made by, and on certificates or other documents furnished by officers of, the
parties to this Agreement.

            In rendering the opinions expressed above, such counsel may limit
such opinions to matters governed by the federal laws of the United States and
the corporate laws of the State of New York, as applicable.

            (g) Such other opinions of counsel as any Rating Agency may request
in connection with the sale of the Mortgage Loans by the Seller to the Purchaser
or the Seller's execution and delivery of, or performance under, this Agreement.

            (h) A letter from Deloitte & Touche, certified public accountants,
dated the date hereof, to the effect that they have performed certain specified
procedures as a result of which they determined that certain information of an
accounting, financial or statistical nature set forth in the Memorandum and the
Prospectus Supplement agrees with the records of the Seller.

            (i) Such further certificates, opinions and documents as the
Purchaser may reasonably request.

            (j) An officer's certificate of the Purchaser, dated as of the
Closing Date, with the resolutions of the Purchaser authorizing the transactions
described herein attached thereto, together with certified copies of the
charter, by-laws and certificate of good standing of the Purchaser dated not
earlier than 30 days prior to the Closing Date.

            (k) Such other certificates of the Purchaser's officers or others
and such other documents to evidence fulfillment of the conditions set forth in
this Agreement as the Seller or its counsel may reasonably request.

            (l) An executed Bill of Sale in the form attached hereto as Exhibit
4.

            Section 8. Costs. The Seller shall pay the Purchaser the costs and
expenses as agreed upon by the Seller and the Purchaser in a separate Letter of
Understanding dated June 1, 2002.

            Section 9. Notices. All communications provided for or permitted
hereunder shall be in writing and shall be deemed to have been duly given if (a)
personally delivered, (b) mailed by registered or certified mail, postage
prepaid and received by the addressee, (c) sent by express courier delivery
service and received by the addressee, or (d) transmitted by telex or facsimile
transmission (or any other type of electronic transmission agreed upon by the
parties) and confirmed by a writing delivered by any of the means described in
(a), (b) or (c), if (i) to the Purchaser, addressed to Morgan Stanley Dean
Witter Capital I Inc., 1585 Broadway, New York, New York 10036, Attention:
Cecilia Tarrant, with a copy to Michelle Wilke (or such other address as may
hereafter be furnished in writing by the Purchaser), or (ii) if to the Seller,
addressed to the Seller at Teachers Insurance and Annuity Association of
America, 730 Third Avenue, New York, New York 10018, Attention: Associate
Director-CMBS Marketing (or to such other address as the Seller may designate in
writing) with copies to the V.P.-Mortgage and Real Estate Law.

            Section 10. Severability of Provisions. Any part, provision,
representation, warranty or covenant of this Agreement that is prohibited or
that is held to be void or unenforceable shall be ineffective to the extent of
such prohibition or unenforceability without invalidating the remaining
provisions hereof. Any part, provision, representation, warranty or covenant of
this Agreement that is prohibited or unenforceable or is held to be void or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective
to the extent of such prohibition or unenforceability without invalidating the
remaining provisions hereof, and any such prohibition or unenforceability in any
jurisdiction shall not invalidate or render unenforceable such provision in any
other jurisdiction. To the extent permitted by applicable law, the parties
hereto waive any provision of law which prohibits or renders void or
unenforceable any provision hereof.

            Section 11. Further Assurances. The Seller and the Purchaser each
agree to execute and deliver such instruments and take such actions as the other
may, from time to time, reasonably request in order to effectuate the purpose
and to carry out the terms of this Agreement and the Pooling and Servicing
Agreement.

            Section 12. Survival. Each party hereto agrees that the
representations, warranties and agreements made by it herein and in any
certificate or other instrument delivered pursuant hereto shall be deemed to be
relied upon by the other party, notwithstanding any investigation heretofore or
hereafter made by the other party or on its behalf, and that the
representations, warranties and agreements made by such other party herein or in
any such certificate or other instrument shall survive the delivery of and
payment for the Mortgage Loans and shall continue in full force and effect,
notwithstanding any restrictive or qualified endorsement on the Mortgage Notes
and notwithstanding subsequent termination of this Agreement.

            SECTION 13. GOVERNING LAW. THIS AGREEMENT AND THE RIGHTS, DUTIES,
OBLIGATIONS AND RESPONSIBILITIES OF THE PARTIES HERETO SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS AND DECISIONS OF THE STATE OF NEW
YORK. THE PARTIES HERETO INTEND THAT THE PROVISIONS OF SECTION 5-1401 OF THE NEW
YORK GENERAL OBLIGATIONS LAW SHALL APPLY TO THIS AGREEMENT.

            Section 14. Benefits of Mortgage Loan Purchase Agreement. This
Agreement shall inure to the benefit of and shall be binding upon the Seller,
the Purchaser and their respective successors, legal representatives, and
permitted assigns, and nothing expressed or mentioned in this Agreement is
intended or shall be construed to give any other person any legal or equitable
right, remedy or claim under or in respect of this Agreement, or any provisions
herein contained, this Agreement and all conditions and provisions hereof being
intended to be and being for the sole and exclusive benefit of such persons and
for the benefit of no other person except that the rights and obligations of the
Purchaser pursuant to Sections 2, 4(a) (other than clause (vii)), 5, 11 and 12
hereof may be assigned to the Trustee as may be required to effect the purposes
of the Pooling and Servicing Agreement and, upon such assignment, the Trustee
shall succeed to the rights and obligations hereunder of the Purchaser. No owner
of a Certificate issued pursuant to the Pooling and Servicing Agreement shall be
deemed a successor or permitted assigns because of such ownership.

            Section 15. Miscellaneous. This Agreement may be executed in two or
more counterparts, each of which when so executed and delivered shall be an
original, but all of which together shall constitute one and the same
instrument. Neither this Agreement nor any term hereof may be changed, waived,
discharged or terminated orally, but only by an instrument in writing signed by
the party against whom enforcement of the change, waiver, discharge or
termination is sought. The headings in this Agreement are for purposes of
reference only and shall not limit or otherwise affect the meaning hereof. The
rights and obligations of the Seller under this Agreement shall not be assigned
by the Seller without the prior written consent of the Purchaser, except that
any person into which the Seller may be merged or consolidated, or any
corporation resulting from any merger, conversion or consolidation to which the
Seller is a party, or any person succeeding to the entire business of the Seller
shall be the successor to the Seller hereunder.

            Section 16. Entire Agreement. This Agreement contains the entire
agreement and understanding between the parties hereto with respect to the
subject matter hereof (other than the Letter of Understanding, the
Indemnification Agreement and the Pooling and Servicing Agreement), and
supersedes all prior and contemporaneous agreements, understandings, inducements
and conditions, express or implied, oral or written, of any nature whatsoever
with respect to the subject matter hereof. The express terms hereof control and
supersede any course of performance or usage of the trade inconsistent with any
of the terms hereof.

<PAGE>

            IN WITNESS WHEREOF, the Purchaser and the Seller have caused this
Agreement to be executed by their respective duly authorized officers as of the
date first above written.

                                        TEACHERS INSURANCE AND ANNUITY
                                        ASSOCIATION OF AMERICA

                                        By: ____________________________________
                                            Name:
                                            Title:

                                        MORGAN STANLEY DEAN WITTER
                                        CAPITAL I INC.

                                        By: ____________________________________
                                            Name:
                                            Title:

<PAGE>

                                    EXHIBIT 1

                             MORTGAGE LOAN SCHEDULE

MSDWCI 2002-IQ2
TIAA

<TABLE>
<CAPTION>
LOAN POOL   MORTGAGE LOAN
NO          SELLER          PROPERTY NAME                  CITY         STATE      ZIP CODE
<C>         <C>             <C>                            <C>          <C>          <C>
28          TIAA            Commerce Park Southwest        Stafford     TX           77477
29          TIAA            Commerce Park Northwest        Houston      TX           77040
30          TIAA            Commerce Park Westchase        Houston      TX           77042
31          TIAA            Commerce Park Medical Center   Houston      TX           77054
32          TIAA            Blue Bell Plaza                Blue Bell    PA           19422
40          TIAA            Argonaut Shopping Center       Saratoga     CA           95070
41          TIAA            The Retreat At Westchase       Houston      TX           77042
55          TIAA            Centex Office Center           Plantation   FL           33324
71          TIAA            Fry's Plaza Shopping Center    Glendale     AZ           85303

<CAPTION>
LOAN POOL                                                                   SUB-SERVICING
NO          ORIGINAL BALANCE   CURRENT BALANCE   MASTER FEE   PRIMARY FEE             FEE
<C>              <C>               <C>                 <C>           <C>             <C>
28                $8,000,000        $7,914,209         5.00          3.00            5.00
29                $6,142,857        $6,076,982         5.00          3.00            5.00
30                $5,500,000        $5,441,018         5.00          3.00            5.00
31                $2,357,143        $2,331,866         5.00          3.00            5.00
32               $18,200,000       $18,042,182         5.00          3.00            5.00
40               $12,100,000       $11,946,885         5.00          3.00            5.00
41               $10,000,000        $9,919,844         5.00          3.00            5.00
55                $8,000,000        $7,950,897         5.00          3.00            5.00
71                $5,400,000        $5,377,609         5.00          3.00            5.00
</TABLE>

<PAGE>

                                    EXHIBIT 2

                    REPRESENTATIONS AND WARRANTIES REGARDING
                            INDIVIDUAL MORTGAGE LOANS

            1. Mortgage Loan Schedule. The information set forth in the Mortgage
Loan Schedule is complete, true and correct in all material respects as of the
date of this Agreement and as of the Cut-Off Date.

            2. Whole Loan; Ownership of Mortgage Loans. Each Mortgage Loan is a
whole loan and not a participation interest in a mortgage loan. Immediately
prior to the transfer to the Purchaser of the Mortgage Loans, the Seller had
good title to, and was the sole owner of, each Mortgage Loan. The Seller has
full right, power and authority to transfer and assign each of the Mortgage
Loans to or at the direction of the Purchaser and (assuming that the Purchaser
has the capacity to acquire such Mortgage Loan) has validly and effectively
conveyed (or caused to be conveyed) to the Purchaser or its designee all of the
Seller's legal and beneficial interest in and to the Mortgage Loans free and
clear of any and all pledges, liens, charges, security interests and/or other
encumbrances. The sale of the Mortgage Loans to the Purchaser or its designee
does not require the Seller to obtain any governmental or regulatory approval or
consent that has not been obtained. None of the Mortgage Loan documents
restricts the Seller's right to transfer the Mortgage Loan to the Purchaser or
the Trustee.

            3. Payment Record. No scheduled payment of principal and interest
under any Mortgage Loan was 30 days or more past due as of the Cut-Off Date, and
no Mortgage Loan was 30 days or more delinquent in the twelve-month period
immediately preceding the Cut-Off Date.

            4. Lien; Valid Assignment. The Mortgage related to and delivered in
connection with each Mortgage Loan constitutes a valid and, subject to the
exceptions set forth in paragraph 13 below, enforceable first priority lien upon
the related Mortgaged Property, prior to all other liens and encumbrances,
except for (a) the lien for current real estate taxes and assessments not yet
due and payable, (b) covenants, conditions and restrictions, rights of way,
easements and other matters that are of public record and/or are referred to in
the related lender's title insurance policy, (c) exceptions and exclusions
specifically referred to in such lender's title insurance policy, and (d) other
matters to which like properties are commonly subject, none of which matters
referred to in clauses (b), (c) or (d), individually or in the aggregate,
materially interferes with the security intended to be provided by such
Mortgage, the value or current use or operation of the Mortgaged Property or the
current ability of the Mortgaged Property to generate operating income
sufficient to service the Mortgage Loan debt (the foregoing items (a) through
(d) being herein referred to as the "Permitted Encumbrances"). The related
Assignment of Mortgage executed and delivered in favor of the Trustee is in
recordable form and constitutes a legal, valid and binding assignment, and,
assuming that the assignee has the capacity to acquire such Mortgage, sufficient
to convey to the assignee named therein all of the assignor's right, title and
interest in, to and under such Mortgage. Such Mortgage, together with any
separate security agreements, chattel mortgages or equivalent instruments,
establishes and creates a valid and, subject to the exceptions set forth in
paragraph 13 below, enforceable security interest in favor of the holder thereof
in all of the related Mortgagor's personal property used in the operation of the
related Mortgaged Property. As of the Closing Date, Uniform Commercial Code
financing statements or continuation statements have been filed and/or recorded
in all places necessary to perfect and keep perfected, until additional actions
are required under the Uniform Commercial Code, a valid security interest in
such personal property, to the extent a security interest may be so created
therein, and such security interest is a first priority security interest,
subject to any prior purchase money security interest in such personal property
and any personal property leases applicable to such personal property, or the
failure to have filed and/or recorded Uniform Commercial Code financing
statements prior to the Closing Date will not have a material adverse effect on
the value of the Mortgaged Properties. Notwithstanding the foregoing, no
representation is made as to the perfection of any security interest in rents or
other personal property to the extent that possession or control of such items
or actions other than the filing of Uniform Commercial Code financing statements
are required in order to effect such perfection.

            5. Assignment of Leases and Rents. The Assignment of Leases related
to and delivered in connection with each Mortgage Loan establishes and creates a
valid and, subject to the exceptions set forth in paragraph 13 below,
enforceable first priority collateral assignment in the related Mortgagor's
interest in all leases, sub-leases, licenses or other agreements pursuant to
which any person is entitled to occupy, use or possess all or any portion of the
real property subject to the related Mortgage, subject to legal limitations of
general applicability to commercial mortgage loans similar to the Mortgage Loan,
and the Mortgagor and each assignor of such Assignment of Leases to the Seller
have the full right to assign the same. The related assignment of any Assignment
of Leases not included in a Mortgage has been executed and delivered in favor of
the Trustee and is in recordable form and constitutes a legal, valid and binding
assignment, sufficient to convey to the assignee named therein (assuming that
the assignee has the capacity to acquire such Assignment of Leases) all of the
assignor's right, title and interest in, to and under such Assignment of Leases.

            6. Mortgage Status; Waivers and Modifications. No Mortgage has been
satisfied, cancelled, rescinded or (except for Permitted Encumbrances)
subordinated in whole or in part, and the related Mortgaged Property has not
been released from the lien of such Mortgage, in whole or in part, nor has any
instrument been executed that would effect any such satisfaction, cancellation,
subordination (except for Permitted Encumbrances), rescission or release, in any
manner that, in each case, materially and adversely affects the value of the
related Mortgaged Property except for any partial reconveyances of real property
that are included in the related Mortgage File. None of the terms of any
Mortgage Note, Mortgage or Assignment of Leases has been impaired, waived in any
material respect, altered or modified in any respect, except by written
instruments, all of which are included in the related Mortgage File and none of
the mortgage loans have been modified since June 1, 2002.

            7. Condition of Property; Condemnation. A property inspection report
was prepared in connection with the origination of each Mortgage Loan (except in
certain cases where the Mortgaged Property was newly constructed). With respect
to each Mortgaged Property securing a Mortgage Loan that was the subject of a
property inspection report or a Certificate of Substantial Completion or an
Architect's Certificate of Completion prepared on or after December 1, 2000,
other than as disclosed in such property inspection report or Certificate of
Substantial Completion or an Architect's Certificate of Completion, each such
Mortgaged Property is, to the Seller's knowledge, free and clear of any damage
(or adequate reserves therefor have been established) that would materially and
adversely affect its value as security for the related Mortgage Loan.

            With respect to the remaining Mortgaged Properties for which
property inspection reports, Certificates of Substantial Completion or
Architect's Certificate of Completion were prepared prior to December 1, 2000,
(a) such Mortgaged Property is (i) free and clear of any damage that would
materially and adversely affect its value as security for the related Mortgage
Loan; and (ii) in good repair and condition so as not to materially and
adversely affect its value as security for the related Mortgage Loan; and (b)
all building systems contained on such Mortgaged Property are in good working
order so as not to materially and adversely affect its value as security for the
related Mortgage Loan or, in the case of (a) and (b) adequate reserves therefor
have been established or other resources are available.

            The Seller has received no notice of the commencement of any
proceeding for the condemnation of all or any material portion of any Mortgaged
Property. To the Seller's knowledge (based on surveys and/or title insurance
obtained in connection with the origination of the Mortgage Loans), as of the
date of the origination of each Mortgage Loan, all of the material improvements
on the related Mortgaged Property that were considered in determining the value
of the Mortgaged Property lay wholly within the boundaries of such property,
except for encroachments that are insured against by the lender's title
insurance policy referred to herein or that do not materially and adversely
affect the value or marketability of such Mortgaged Property, and no
improvements on adjoining properties materially encroached upon such Mortgaged
Property so as to materially and adversely affect the value or marketability of
such Mortgaged Property, except those encroachments that are insured against by
the Title Policy referred to herein.

            8. Title Insurance. Each Mortgaged Property is covered by an
American Land Title Association (or an equivalent form of) lender's title
insurance policy (the "Title Policy") in the original principal amount of the
related Mortgage Loan after all advances of principal. Each Title Policy insures
that the related Mortgage is a valid first priority lien on such Mortgaged
Property, subject only to the Permitted Encumbrances stated therein (or a marked
up title insurance commitment or pro forma policy marked as binding and
counter-signed by the title insurer or its authorized agent on which the
required premium has been paid exists which evidences that such Title Policy
will be issued). Each Title Policy (or, if it has yet to be issued, the coverage
to be provided thereby) is in full force and effect, all premiums thereon have
been paid, no material claims have been made thereunder and no claims have been
paid thereunder. No holder under the related Mortgage has done, by act or
omission, anything that would materially impair the coverage under such Title
Policy. Immediately following the transfer and assignment of the related
Mortgage Loan to the Trustee, such Title Policy (or, if it has yet to be issued,
the coverage to be provided thereby) will inure to the benefit of the Trustee
without the consent of or notice to the insurer. To the Seller's knowledge, the
insurer issuing such Title Policy is qualified to do business in the
jurisdiction in which the related Mortgaged Property is located.

            9. No Holdbacks. The proceeds of each Mortgage Loan have been fully
disbursed and there is no obligation for future advances with respect thereto.
With respect to each Mortgage Loan, any and all requirements as to completion of
any on-site or off-site improvement and as to disbursements of any funds
escrowed for such purpose that were to have been complied with on or before the
Closing Date have been complied with, or any such funds so escrowed have not
been released.

            10. Mortgage Provisions. The Mortgage Note or Mortgage for each
Mortgage Loan, together with applicable state law, contains customary and
enforceable provisions (subject to the exceptions set forth in paragraph 13),
including foreclosure, such as to render the rights and remedies of the holder
thereof adequate for the practical realization against the related Mortgaged
Property of the principal benefits of the security intended to be provided
thereby. The related Mortgage Loan documents provide for the appointment of a
receiver of rents following an event of default under such loan documents, to
the extent available under applicable law.

            11. Trustee under Deed of Trust. If any Mortgage is a deed of trust,
(a) a trustee, duly qualified under applicable law to serve as such, is properly
designated and serving under such Mortgage, and (b) no fees or expenses are
payable to such trustee by the Seller, the Purchaser or any transferee thereof
except in connection with a trustee's sale after default by the related
Mortgagor or in connection with any full or partial release of the related
Mortgaged Property or related security for the related Mortgage Loan.

            12. Environmental Conditions. An environmental site assessment
assessing all hazards generally assessed for similar properties (as of the date
of such assessment), including type, use and tenants for such similar properties
("Environmental Report") was performed with respect to each Mortgaged Property
in connection with the origination or securitization of each Mortgage Loan.

            (a) With respect to the Mortgaged Properties for which the
Environmental Reports were prepared on or after December 1, 2000, other than as
disclosed in the related Environmental Report therefor, to the Seller's
knowledge, (X) no Hazardous Material is present on such Mortgaged Property, such
that (1) the value, use or operations of such Mortgaged Property is materially
and adversely affected, or (2) under applicable federal, state or local law, (i)
such Hazardous Material could be required to be eliminated, remediated or
otherwise responded to at a cost or in a manner materially and adversely
affecting the value, use or operations of the Mortgaged Property before such
Mortgaged Property could be altered, renovated, demolished or transferred or
(ii) the presence of such Hazardous Material could (upon action by the
appropriate governmental authorities) subject the owner of such Mortgaged
Property, or the holders of a security interest therein, to liability for the
cost of eliminating, remediating or otherwise responding to such Hazardous
Material or the hazard created thereby at a cost or in a manner materially and
adversely affecting the value, use or operations of the Mortgaged Property, and
(Y) such Mortgaged Property is in material compliance with all applicable
federal, state and local laws and regulations pertaining to Hazardous Materials
or environmental hazards, any noncompliance with such laws or regulations does
not have a material adverse effect on the value, use or operations of such
Mortgaged Property and neither Seller nor, to the Seller's knowledge, the
related Mortgagor or any current tenant thereon, has received any notice of any
violation or potential violation of any such law or regulation. With respect to
any condition disclosed in an Environmental Report, which condition constituted
a violation of applicable laws or regulations or would materially and adversely
affect the value, use or operations of the related Mortgaged Property if not
remedied, such condition has either been satisfactorily remedied, consistent
with prudent commercial mortgage lending practices, or the applicable loan
documents contain provisions which address such condition to the satisfaction of
the Seller, consistent with prudent commercial mortgage lending practices, and
adequate funding or resources, consistent with prudent commercial mortgage
lending practices, were available to remedy or otherwise respond to such
condition.

            (b) With respect to the remaining Mortgaged Properties for which the
Environmental Reports were prepared prior to December 1, 2000, (X) no Hazardous
Material is present on such Mortgaged Property, such that (1) the value, use or
operations of such Mortgaged Property is materially and adversely affected, or
(2) under applicable federal, state or local law and regulations, (a) such
Hazardous Material could be required to be eliminated, remediated or otherwise
responded to at a cost or in a manner materially and adversely affecting the
value, use or operations of the Mortgaged Property before such Mortgaged
Property could be altered, renovated, demolished or transferred or (b) the
presence of such Hazardous Material could (upon action by the appropriate
governmental authorities) subject the owner of such Mortgaged Property, or the
holders of a security interest therein, to liability for the cost of
eliminating, remediating or otherwise responding to such Hazardous Material or
the hazard created thereby at a cost or in a manner materially and adversely
affecting the value, use or operations of the Mortgaged Property, and (Y) such
Mortgaged Property is in material compliance with all applicable federal, state
and local laws and regulations pertaining to Hazardous Materials or
environmental hazards, any noncompliance with such laws or regulations does not
have a material adverse effect on the value, use or operations of such Mortgaged
Property and neither Seller nor, to the Seller's knowledge, the related
Mortgagor or any current tenant thereon, has received any notice of any
violation or potential violation of any such law or regulation. With respect to
any condition disclosed in an Environmental Report, which condition constituted
a violation of applicable laws or regulations or would materially and adversely
affect the value, use or operations of the related Mortgaged Property if not
remedied, such condition has either been satisfactorily remedied, consistent
with prudent commercial mortgage lending practices, or the applicable loan
documents contain provisions which address such condition to the satisfaction of
the Seller, consistent with prudent commercial mortgage lending practices, and
adequate funding or resources, consistent with prudent commercial mortgage
lending practices, were available to remedy or otherwise respond to such
condition.

            (c) Reserved.

            (d) Each Mortgage requires the related Mortgagor to comply with all
applicable federal, state and local environmental laws and regulations.

            (e) Reserved.

            "Hazardous Materials" means gasoline, petroleum products,
explosives, radioactive materials, polychlorinated biphenyls or related or
similar materials, and any other substance, material or waste as may be defined
as a hazardous or toxic substance, material or waste by an federal, state or
local environmental law, ordinance, rule, regulation or order, including without
limitation, the Comprehensive Environmental Response, Compensation and Liability
Act of 1980, as amended (42 U.S.C.ss.ss.9601 et seq.), the Hazardous Materials
Transportation Act, as amended (49 U.S.C.ss.ss.1801 et seq.), the Resource
Conservation and Recovery Act, as amended (42 U.S.C.ss.ss.6901 et seq.), the
Federal Water Pollution Control Act, as amended (33 U.S.C.ss.ss.1251 et seq.),
the Clean Air Act, as amended (42 U.S.C.ss.ss. 7401 et seq.), and any
regulations promulgated pursuant thereto.

            13. Loan Document Status. Each Mortgage Note, Mortgage and other
agreement that evidences or secures such Mortgage Loan and that was executed by
or on behalf of the related Mortgagor is the legal, valid and binding obligation
of the maker thereof (subject to any non-recourse provisions contained in any of
the foregoing agreements and any applicable state anti-deficiency or market
value limit deficiency legislation), enforceable in accordance with its terms,
except with respect to provisions relating to default interest, yield
maintenance charges and prepayment premiums and as such enforcement may be
limited by bankruptcy, insolvency, reorganization or other similar laws
affecting the enforcement of creditors' rights generally, and by general
principles of equity (regardless of whether such enforcement is considered in a
proceeding in equity or at law) and, to the Seller's knowledge, there is no
valid defense, counterclaim or right of offset or rescission available to the
related Mortgagor with respect to such Mortgage Note, Mortgage or other
agreements.

            14. Insurance. Each Mortgaged Property is required (or the holder of
the Mortgage can require) pursuant to the related Mortgage to be, and at
origination the Seller received evidence that such Mortgaged Property was,
insured by (a) a fire and extended perils insurance policy providing coverage
against loss or damage sustained by reason of fire, lightning, hail, windstorm
(with respect to the Mortgage Loans set forth on Schedule 2 attached hereto),
explosion, riot, riot attending a strike, civil commotion, aircraft, vehicles
and smoke, and, to the extent required as of the date of origination by the
originator of such Mortgage Loan consistent with its normal commercial mortgage
lending practices, against other risks insured against by persons operating like
properties in the locality of the Mortgaged Property, in an amount not less than
the lesser of the principal balance of the related Mortgage Loan and the
replacement cost of the improvements on the Mortgaged Property, and with no
provisions for a deduction for depreciation in respect of awards for the
reconstruction of the improvements, and not less than the amount necessary to
avoid the operation of any co-insurance provisions with respect to the Mortgaged
Property; (b) a business interruption or rental loss insurance policy or
coverage, in an amount at least equal to six (6) months of operations of the
Mortgaged Property; and (c) a flood insurance policy (if any portion of
buildings or other structures (excluding parking) on the Mortgaged Property are
located in an area identified by the Federal Emergency Management Agency
("FEMA") as a special flood hazard area (which "special flood hazard area" does
not include areas designated by FEMA as Zones B, C or X)). With respect to each
Mortgaged Property, such Mortgaged Property is required pursuant to the related
Mortgage to be (or the holder of the Mortgage can require that the Mortgaged
Property be), and at origination the Seller received evidence that such
Mortgaged Property was, insured by a commercial general liability insurance
policy in amounts as are generally required by commercial mortgage lenders for
similar properties, and in any event not less than $1 million per occurrence.
Under such insurance policies either (A) the Seller is named as mortgagee under
a standard mortgagee clause or (B) the Seller is named as an additional insured,
and is entitled to receive prior notice as the holder of the Mortgage of
termination or cancellation. No such notice has been received, including any
notice of nonpayment of premiums, that has not been cured. Each Mortgage
obligates the related Mortgagor to maintain or cause to be maintained all such
insurance and, upon such Mortgagor's failure to do so, authorizes the holder of
the Mortgage to maintain or to cause to be maintained such insurance at the
Mortgagor's cost and expense and to seek reimbursement therefor from such
Mortgagor. Each Mortgage Loan provides that casualty insurance proceeds will be
applied either to the restoration or repair of the related Mortgaged Property or
to the reduction of the principal amount of the Mortgage Loan. Each Mortgage
provides that any related insurance proceeds, other than for a total loss or
taking, will be applied either to the repair or restoration of all or part of
the related Mortgaged Property, with the mortgagee or a trustee appointed by the
mortgagee having the right to hold and disburse such proceeds as the repair or
restoration progresses (except in such cases where a provision entitling another
party to hold and disburse such proceeds would not be viewed as commercially
unreasonable by a prudent commercial mortgage lender), or to the payment of the
outstanding principal balance of the Mortgage Loan together with any accrued
interest thereon, and any insurance proceeds in respect of a total or
substantially total loss or taking may be applied either to payment of
outstanding principal and interest on the Mortgage Loan (except as otherwise
provided by law) or to rebuilding of the Mortgaged Property.

            15. Taxes and Assessments and Ground Lease Rents. As of the Closing
Date, there are no delinquent taxes, assessments or other outstanding charges
affecting any Mortgaged Property that are or may become a lien of priority equal
to or higher than the lien of the related Mortgage. For purposes of this
representation and warranty, real property taxes and assessments shall be
considered delinquent commencing from the date on which interest or penalties
would be first payable thereon. As of the Closing Date, there are no delinquent
rents on any ground leases for any Mortgaged Property.

            16. Mortgagor Bankruptcy. No Mortgagor is, to the Seller's
knowledge, a debtor in any state or federal bankruptcy or insolvency proceeding
and no Mortgaged Property or any portion thereof is subject to a plan in any
such proceeding.

            17. Leasehold Estate. Each Mortgaged Property consists of the
related Mortgagor's fee simple estate in real estate (the "Fee Interest") or the
related Mortgage Loan is secured in whole or in part by the interest of the
related Mortgagor as a lessee under a ground lease of the Mortgaged Property (a
"Ground Lease"), and if secured in whole or in part by a Ground Lease, either
(1) the ground lessor's fee interest is subordinated to the lien of the Mortgage
and the Mortgage will not be subject to any lien or encumbrances on the ground
lessor's fee interest, other than Permitted Encumbrances, and the holder of the
Mortgage is permitted to foreclose the ground lessor's fee interest within a
commercially reasonable time period or (2) the following apply to such Ground
Lease:

            (a) Such Ground Lease or a memorandum thereof has been or will be
      duly recorded; such Ground Lease (or the related estoppel letter or lender
      protection agreement between the Seller and related lessor) permits the
      interest of the lessee thereunder to be encumbered by the related
      Mortgage; does not restrict the use of the related Mortgaged Property by
      the lessee or its permitted successors and assigns in a manner that would
      materially and adversely affect the security provided by the related
      Mortgage; and, to the knowledge of the Seller, there has been no material
      change in the payment terms of such Ground Lease since the origination of
      the related Mortgage Loan, with the exception of material changes
      reflected in written instruments that are a part of the related Mortgage
      File;

            (b) The lessee's interest in such Ground Lease is not subject to any
      liens or encumbrances superior to, or of equal priority with, the related
      Mortgage, other than the ground lessor's related fee interest and
      Permitted Encumbrances;

            (c) The Mortgagor's interest in such Ground Lease is assignable to
      the Purchaser and its successors and assigns upon notice to, but (except
      in the case where such consent cannot be unreasonably withheld) without
      the consent of, the lessor thereunder (or, if such consent is required, it
      has been obtained prior to the Closing Date) and, in the event that it is
      so assigned, is further assignable by the Purchaser and its successors and
      assigns upon notice to, but without the need to obtain the consent of,
      such lessor (except in the case where such consent cannot be unreasonably
      withheld);

            (d) Such Ground Lease is in full force and effect, and the Seller
      has received no notice that an event of default has occurred thereunder,
      and, to the Seller's knowledge, there exists no condition that, but for
      the passage of time or the giving of notice, or both, would result in an
      event of default under the terms of such Ground Lease;

            (e) Such Ground Lease, or an estoppel letter or other agreement,
      requires the lessor under such Ground Lease to give notice of any material
      default by the lessee to the mortgagee (concurrent with notice given to
      the lessee), provided that the mortgagee has provided the lessor with
      notice of its lien in accordance with the provisions of such Ground Lease,
      and such Ground Lease, or an estoppel letter or other agreement, further
      provides that no notice of termination given under such Ground Lease is
      effective against the mortgagee unless a copy has been delivered to the
      mortgagee. The Seller has provided the lessor under the Ground Lease with
      notice of the Seller's lien on the Mortgaged Property in accordance with
      the provisions of such Ground Lease;

            (f) A mortgagee is permitted a reasonable opportunity (including,
      where necessary, sufficient time to gain possession of the interest of the
      lessee under such Ground Lease) to cure any default under such Ground
      Lease, which is curable after the receipt of notice of any such default,
      before the lessor thereunder may terminate such Ground Lease by reason of
      such default;

            (g) Such Ground Lease has an original term, along with any
      extensions set forth in such Ground Lease, not less than 10 years beyond
      the full amortization term of the Mortgage Loan;

            (h) Under the terms of such Ground Lease and the related Mortgage,
      taken together, any related insurance proceeds, other than for a total
      loss or taking, will be applied either to the repair or restoration of all
      or part of the related Mortgaged Property, with the mortgagee or a trustee
      appointed by the mortgagee having the right to hold and disburse such
      proceeds as the repair or restoration progresses (except in such cases
      where a provision entitling another party to hold and disburse such
      proceeds would not be viewed as commercially unreasonable by a prudent
      commercial mortgage lender), or to the payment of the outstanding
      principal balance of the Mortgage Loan together with any accrued interest
      thereon, and any insurance proceeds in respect of a total or substantially
      total loss or taking may be applied either to payment of outstanding
      principal and interest on the Mortgage Loan (except as otherwise provided
      by law) or to rebuilding of the Mortgaged Property;

            (i) Such Ground Lease does not impose any restrictions on subletting
      which would be viewed, as of the date of origination of the related
      Mortgage Loan, as commercially unreasonable by the Seller; and such Ground
      Lease contains a covenant that the lessor thereunder is not permitted, in
      the absence of an uncured default, to disturb the possession, interest or
      quiet enjoyment of any subtenant of the lessee, or in any manner, which
      would materially and adversely affect the security provided by the related
      Mortgage;

            (j) Such Ground Lease or an estoppel or other agreement requires the
      lessor to enter into a new lease with the Seller or its successors or
      assigns under terms which do not materially vary from the economic terms
      of the Ground Lease, in the event of a termination of the Ground Lease by
      reason of a default by the Mortgagor under the Ground Lease, including
      rejection of the Ground Lease in a bankruptcy proceeding; and

            (k) Such Ground Lease may not be materially amended, modified or,
      except in the case of a default, cancelled or terminated without the prior
      written consent of the holder of the Mortgage Loan, and any such action
      without such consent is not binding on such holder, including any increase
      in the amount of rent payable by the lessee thereunder during the term of
      the Mortgage Loan.

            18. Escrow Deposits. All escrow deposits and payments relating to
each Mortgage Loan that are, as of the Closing Date, required to be deposited or
paid have been so deposited or paid, and those escrow deposits and payments are
under control of the Seller or its agents.

            19. LTV Ratio. The gross proceeds of each Mortgage Loan to the
related Mortgagor at origination did not exceed the non-contingent principal
amount of the Mortgage Loan and either: (a) such Mortgage Loan is secured by an
interest in real property having a fair market value (i) at the date the
Mortgage Loan was originated, at least equal to 80 percent of the original
principal balance of the Mortgage Loan or (ii) at the Closing Date, at least
equal to 80 percent of the principal balance of the Mortgage Loan on such date;
provided that for purposes hereof, the fair market value of the real property
interest must first be reduced by (x) the amount of any lien on the real
property interest that is senior to the Mortgage Loan and (y) a proportionate
amount of any lien that is in parity with the Mortgage Loan (unless such other
lien secures a Mortgage Loan that is cross-collateralized with such Mortgage
Loan, in which event the computation described in clauses (a)(i) and (a)(ii) of
this paragraph 19 shall be made on a pro rata basis in accordance with the fair
market values of the Mortgaged Properties securing such cross-collateralized
Mortgage Loans); or (b) substantially all the proceeds of such Mortgage Loan
were used to acquire, improve or protect the real property that served as the
only real property collateral for such Mortgage Loan (other than a recourse
feature or other third party credit enhancement within the meaning of Treasury
Regulations Section 1.860G-2(a)(1)(ii)).

            20. Mortgage Loan Modifications. Any Mortgage Loan that was
"significantly modified" prior to the Closing Date so as to result in a taxable
exchange under Section 1001 of the Code either (a) was modified as a result of
the default under such Mortgage Loan or under circumstances that made a default
reasonably foreseeable or (b) satisfies the provisions of either clause (a)(i)
of paragraph 19 (substituting the date of the last such modification for the
date the Mortgage Loan was originated) or clause (a)(ii) of paragraph 19,
including the proviso thereto.

            21. Advancement of Funds by the Seller. No holder of a Mortgage Loan
has advanced funds, or induced, solicited or knowingly received any advance of
funds from a party other than the owner of the related Mortgaged Property (or
any tenant required to make its lease payments directly to the holder of the
related Mortgage Loan), directly or indirectly, for the payment of any amount
required by such Mortgage Loan.

            22. No Mechanics' Liens. As of the applicable Mortgage Loan
origination date, and to the Seller's knowledge as of the Closing Date, each
Mortgaged Property is free and clear of any and all mechanics' and materialmen's
liens that are prior or equal to the lien of the related Mortgage and no rights
are outstanding that under law could give rise to any such lien that would be
prior or equal to the lien of the related Mortgage except, in each case, for
liens insured against by the Title Policy referred to herein, or, if any such
liens existing as of the Closing Date are not insured against by the Title
Policy referred to herein, such liens will not have a material adverse effect on
the value of the related Mortgaged Property.

            23. Compliance with Usury Laws. Each Mortgage Loan complied with all
applicable usury laws in effect at its date of origination.

            24. Cross-collateralization. No Mortgage Loan is
cross-collateralized or cross-defaulted with any loan other than one or more
other Mortgage Loans.

            25. Releases of Mortgaged Property. No Mortgage Note or Mortgage
requires the mortgagee to release all or any material portion of the related
Mortgaged Property that was included in the valuation for such Mortgaged
Property, and/or generates income, from the lien of the related Mortgage except
upon payment in full of all amounts due under the related Mortgage Loan, or upon
satisfaction of the defeasance provisions of such Mortgage Loan, other than the
Mortgage Loans that require the mortgagee to grant a release of a portion of the
related Mortgaged Property upon (a) the satisfaction of certain legal and
underwriting requirements where the portion of the related Mortgaged Property
permitted to be released was not considered by the Seller to be material in
underwriting the Mortgage Loan or, in the case of a substitution, where the
Mortgagor is entitled to substitute a replacement parcel at its unilateral
option upon the satisfaction of specified conditions, and/or (b) the payment of
a release price and prepayment consideration in connection therewith, consistent
with the Seller's normal commercial mortgage lending practices (and in both (a)
and (b), any release of the Mortgaged Property has been reflected in the
Mortgage Loan Schedule). Except as described in the prior sentence (other than
with respect to defeasance and substitution), no Mortgage Loan permits the full
or partial release or substitution of collateral unless (1) the mortgagor is
entitled to substitute a replacement parcel at its unilateral option upon
satisfaction of specified conditions, and (2) the mortgagee or servicer can
require the Mortgagor to provide an opinion of tax counsel to the effect that
such release or substitution of collateral (a) would not constitute a
"significant modification" of such Mortgage Loan within the meaning of Treas.
Reg. ss.1.1001-3 and (b) would not cause such Mortgage Loan to fail to be a
"qualified mortgage" within the meaning of Section 860G(a)(3)(A) of the Code.

            26. No Equity Participation or Contingent Interest. No Mortgage Loan
contains any equity participation by the lender or provides for negative
amortization or for any contingent or additional interest in the form of
participation in the cash flow of the related Mortgaged Property.

            27. No Material Default. To the Seller's knowledge, there exists no
material default, breach, violation or event giving the lender the right to
accelerate the Mortgage Loan (and, to the Seller's knowledge, no event has
occurred which, with the passage of time or the giving of notice, or both, would
constitute any of the foregoing) under the documents evidencing or securing the
Mortgage Loan, in any such case to the extent the same materially and adversely
affects the value of the Mortgage Loan and the related Mortgaged Property;
provided, however, that this representation and warranty does not address or
otherwise cover any default, breach, violation or event of acceleration that
specifically pertains to any matter otherwise covered by any other
representation and warranty made by the Seller in any of paragraphs 3, 7, 12,
14, 15, 16, 17, 18, 22 and 30 of this Exhibit 2.

            28. Inspections. The Seller (or if the Seller is not the originator,
the originator of the Mortgage Loan) has inspected or caused to be inspected
each Mortgaged Property in connection with the origination of the related
Mortgage Loan.

            29. Local Law Compliance. To the best of Seller's knowledge, based
on due diligence performed at origination that was considered reasonable by
prudent commercial mortgage lenders in the lending area where the Mortgaged
Property is located, the improvements located on or forming part of each
Mortgaged Property comply with applicable zoning laws and ordinances, or
constitute a legal non-conforming use or structure or, if any such improvement
does not so comply, such non-compliance does not materially and adversely affect
the value of the related Mortgaged Property, such value as determined by the
appraisal or internal or external market study performed at origination.

            30. Junior Liens. None of the Mortgage Loans permits the related
Mortgaged Property to be encumbered by any lien (other than a Permitted
Encumbrance) junior to or of equal priority with the lien of the related
Mortgage without the prior written consent of the holder thereof or the
satisfaction of debt service coverage or similar criteria specified therein. The
Seller has no knowledge that any of the Mortgaged Properties is encumbered by
any lien junior to the lien of the related Mortgage.

            31. Actions Concerning Mortgage Loans. To the knowledge of the
Seller, there are no actions, suits or proceedings before any court,
administrative agency or arbitrator concerning any Mortgage Loan, Mortgagor or
related Mortgaged Property that could reasonably be expected to adversely affect
title to the Mortgaged Property or the validity or enforceability of the related
Mortgage or that could reasonably be expected to materially and adversely affect
the value of the Mortgaged Property as security for the Mortgage Loan or the use
for which the premises were intended.

            32. Servicing. The servicing and collection practices used by the
Seller or any prior holder or servicer of each Mortgage Loan have been in all
material respects legal, proper and prudent and have met customary industry
standards utilized by commercial lending institutions in the area where the
related Mortgaged Property is located.

            33. Licenses and Permits. To the Seller's knowledge, based on due
diligence that it customarily performs in the origination of comparable mortgage
loans, as of the date of origination of each Mortgage Loan, and to Seller's
knowledge, as of the Closing Date, based on servicing procedures customarily
performed in the Seller's servicing of the Mortgage Loans during the period in
which Seller owned each such Mortgage Loan, the related Mortgagor was in
possession of all material licenses, permits and franchises required by
applicable law for the ownership and operation of the related Mortgaged Property
as it was then operated.

            34. Collateral in Trust. The Mortgage Note for each Mortgage Loan is
not secured by a pledge of any collateral that has not been assigned to the
Purchaser.

            35. Due on Sale/Due on Encumbrance. Each Mortgage Loan contains a
"due on sale" clause, which provides for the acceleration of the payment of the
unpaid principal balance of the Mortgage Loan if, without prior written consent
of the holder of the Mortgage, the property subject to the Mortgage or any
material portion thereof, is transferred, sold or encumbered by a junior
mortgage or deed of trust; provided, however, that certain Mortgage Loans
provide a mechanism for the assumption of the loan by a third party upon the
Mortgagor's satisfaction of certain conditions precedent, and upon payment of a
transfer fee, if any, or transfer of interests in the Mortgagor or constituent
entities of the Mortgagor to a third party or parties related to the Mortgagor
upon the Mortgagor's satisfaction of certain conditions precedent.

            36. Non-Recourse Exceptions. The Mortgage Loan documents for each
Mortgage Loan either provide that (a) such Mortgage Loan is fully recourse to
the Mortgagor or (b) such Mortgage Loan constitutes the non-recourse obligations
of the related Mortgagor and non-recourse guarantors, if any, except that either
(i) such provision does not apply in the case of fraud or willful
misrepresentation by the Mortgagor, misappropriation of rents, insurance
proceeds or condemnation awards and breaches of the environmental covenants in
the Mortgage Loan documents or (ii) such documents provide that the Mortgagor
shall be liable to the holder of the Mortgage Loan for losses incurred as a
result of fraud by the Mortgagor. Except as set forth on Schedule 3 attached
hereto, either the Mortgagor or a guarantor with respect to each Mortgage Loan
is a natural person.

            37. Underwriting Policies. Each Mortgage Loan was either originated
by the Seller or an affiliate thereof, and each such origination of a Mortgage
Loan substantially complied with the Seller's underwriting policies in effect as
of such Mortgage Loan's origination date.

            38. REMIC Eligibility. Each Mortgage Loan is a "qualified mortgage"
as such term is defined in Section 860G(a)(3) of the Code (without regard to
Treasury Regulations Section 1.860G-2(f)(2), which treats certain defective
mortgage loans as qualified mortgages). Each Mortgaged Property will qualify as
foreclosure property within the meaning of Section 856(e) of the Code if
obtained by foreclosure or deed in lieu of foreclosure.

            39. Reserved.

            40. Prepayment Penalties. Each prepayment penalty or yield
maintenance premium is consistent with those charged by the Seller in its
customary lending practices with respect to loans of the size and character of
the Mortgage Loans.

            41. Loan Provisions. No Mortgage Loan contains a provision that by
its terms would automatically or at the unilateral option of the Mortgagor cause
such Mortgage Loan not be a "qualified mortgage" as such term is defined in
Section 860G(a)(3) of the Code.

            42. Single Purpose Entity. The Mortgagor on each Mortgage Loan
listed on Schedule 4 attached hereto, was, as of the origination of the Mortgage
Loan, a Single Purpose Entity. For this purpose, a "Single Purpose Entity" shall
mean an entity, other than an individual, whose organizational documents provide
(or which entity covenanted in the Mortgage Loan documents) substantially to the
effect that it was formed or organized solely for the purpose of owning and
operating one or more of the Mortgaged Properties securing the Mortgage Loans
and prohibit it from engaging in any business unrelated to such Mortgaged
Property or Properties, and whose organizational documents further provide, or
which entity represented or covenanted in the related Mortgage Loan documents,
substantially to the effect that it does not have (or will not obtain) any
assets other than those related to its interest in and operation of such
Mortgaged Property or Properties, or any indebtedness other than as permitted by
the related Mortgage(s) or the other related Mortgage Loan documents, that it
has its own books and records and accounts separate and apart from any other
person, and that it holds itself out as a legal entity, separate and apart from
any other person.

            43. Defeasance and Assumption Costs. If the related Mortgage Loan
Documents provide for defeasance, such documents provide that the related
Mortgagor is responsible for the payment of all reasonable costs and expenses of
Lender incurred in connection with the defeasance of such Mortgage Loan and the
release of the related Mortgaged Property. The related Mortgage Loan Documents
require the related Mortgagor to pay all reasonable costs and expenses of Lender
associated with the approval of an assumption of such Mortgage Loan.

            44. Defeasance. No Mortgage Loan provides that it can be defeased
prior to the date that is two years after the Closing Date.

<PAGE>

                 Schedule 1 to Mortgage Loan Purchase Agreement
                       (Environmental Insurance Policies)

            As required by representation number 12(e) (Environmental
Conditions), the following is a list of Mortgage Loans that are the subject of a
secured creditor impaired property policy or a commercial real estate pollution
liability policy: None.

<PAGE>

                 Schedule 2 to Mortgage Loan Purchase Agreement
                              (Windstorm Insurance)

            As required by representation number 14 (Insurance), the following
is a list of Mortgage Loans for which the applicable Seller received evidence at
origination that the related Mortgaged Property was insured by a fire and
extended perils insurance policy providing coverage for windstorm: Loan No. 55 -
Centex Center.

<PAGE>

                 Schedule 3 to Mortgage Loan Purchase Agreement
                         (Non-Natural Person Guarantors)

            As required by representation number 36 (Non-Recourse Exceptions),
the following is a list of Mortgage Loans for which either the Mortgagor or a
guarantor with respect to the related Mortgage Loan is not a natural person:
Loan No. 55 - Centex Center.

<PAGE>

                 Schedule 4 to Mortgage Loan Purchase Agreement
                            (Single Purpose Entities)

            As required by representation number 42 (Single Purpose Entities),
the following is a list of Mortgage Loans for which the related Mortgagor was,
as of the origination date, a Single Purpose Entity:

            Loan No. 32 - Blue Bell Plaza; Loan No. 41 - The Retreat at
Westchase; Loan No. 40 - Argonaut Shopping Center; Loan Nos. 28-31 - Commerce
Park Industrial Portfolio; and Loan No. 55 - Centex Center.

<PAGE>

                                   Schedule A

                  Exceptions to Representations and Warranties

            The following exceptions are applicable with respect to the
representations and warranties in Exhibit 2 made by the Seller with respect to
the Mortgage Loans identified in these exceptions.

      1)    The following Mortgage Loans are exceptions to representation number
            37 (Underwriting Policies): Loan No. 32 - Blue Bell Plaza; Loan No.
            41 - The Retreat at Westchase; Loan No. 40 - Argonaut Shopping
            Center; Loan No. 71 - Fry's Plaza Shopping Center; Loan Nos. 28-31 -
            Commerce Park Industrial Portfolio; and Loan No. 55 - Centex Center.
            These Mortgage Loans were not originated by the Seller or an
            affiliate thereof.

<PAGE>

                                   Schedule B

    List of Mortgagors that are Third-Party Beneficiaries Under Section 5(b)

                                      None

<PAGE>

                                    EXHIBIT 3

                               PRICING FORMULATION

              Purchase Price                          $79,129,569

<PAGE>

                                    EXHIBIT 4

                                  BILL OF SALE

            1.    PARTIES. The parties to this Bill of Sale are the following:

                  Seller:     Teachers Insurance and Annuity Association of
                              America
                  Purchaser:  Morgan Stanley Dean Witter Capital I Inc.

            2. SALE. For value received, the Seller hereby conveys to the
Purchaser, without recourse, all right, title and interest in and to the
Mortgage Loans identified on Exhibit 1 (the "Mortgage Loan Schedule") to the
Mortgage Loan Purchase Agreement, dated as of June 1, 2002 (the "Mortgage Loan
Purchase Agreement"), between the Seller and the Purchaser and all of the
following property:

            (a) All accounts, general intangibles, chattel paper, instruments,
      documents, money, deposit accounts, certificates of deposit, goods,
      letters of credit, advices of credit and investment property consisting
      of, arising from or relating to any of the following property: the
      Mortgage Loans identified on the Mortgage Loan Schedule including the
      related Mortgage Notes, Mortgages, security agreements, and title, hazard
      and other insurance policies, all distributions with respect thereto
      payable after the Cut-Off Date, all substitute or replacement Mortgage
      Loans and all distributions with respect thereto, and the Mortgage Files;

            (b) All accounts, general intangibles, chattel paper, instruments,
      documents, money, deposit accounts, certificates of deposit, goods,
      letters of credit, advices of credit, investment property, and other
      rights arising from or by virtue of the disposition of, or collections
      with respect to, or insurance proceeds payable with respect to, or claims
      against other Persons with respect to, all or any part of the collateral
      described in clause (a) above (including any accrued discount realized on
      liquidation of any investment purchased at a discount); and

            (c) All cash and non-cash proceeds of the collateral described in
      clauses (a) and (b) above.

            3. PURCHASE PRICE. The amount and other consideration set forth on
Exhibit 3 to the Mortgage Loan Purchase Agreement.

            4. DEFINITIONS. Terms used but not defined herein shall have the
meanings assigned to them in the Mortgage Loan Purchase Agreement.

<PAGE>

            IN WITNESS WHEREOF, each of the parties hereto has caused this Bill
of Sale to be duly executed and delivered on this ___ day of June, 2002.

SELLER:                                 TEACHERS INSURANCE AND ANNUITY
                                        ASSOCIATION OF AMERICA

                                        By: ____________________________________
                                            Name:
                                            Title:

PURCHASER:                              MORGAN STANLEY DEAN WITTER
                                        CAPITAL I INC.

                                        By: ____________________________________
                                            Name:
                                            Title:

<PAGE>

                                    EXHIBIT 5

                        FORM OF LIMITED POWER OF ATTORNEY

THIS DOCUMENT PREPARED BY,
AND AFTER RECORDING RETURN TO:

Lend Lease Asset Management, L.P.
700 North Pearl Street, Suite 2400
Dallas, Texas 75201
Attention: Michael O'Hanlon

LaSalle Bank National Association
135 South LaSalle Street, Suite 1625
Chicago, Illinois 60603
Attention: Asset-Backed Securities Trust Services Group

--------------------------------------------------------------------------------

                            LIMITED POWER OF ATTORNEY

            Know all persons by these presents; that the undersigned, having an
address of [MORTGAGE LOAN SELLER'S ADDRESS] (the "Seller"), being duly empowered
and authorized to do so, does hereby make, constitute and appoint Lend Lease
Asset Management, L.P., having an address of 700 North Pearl Street, Suite 2400,
Dallas, Texas 75201, Attention: Michael O'Hanlon (the "Special Servicer") and
LaSalle Bank National Association, having an address of 135 South LaSalle
Street, Suite 1625, Chicago, Illinois 60603, Attention: Asset-Backed Securities
Trust Services Group--Morgan Stanley Dean Witter Capital I Inc., Series 2002-IQ2
(the "Trustee") as the true and lawful attorneys-in-fact for the undersigned, in
its name, place and stead, and for its use and benefit:

            1. To empower the Trustee and, in the event of the failure or
incapacity of the Trustee, the Special Servicer, to submit for recording, at the
expense of the Seller, any mortgage loan documents required to be recorded as
described in the Pooling and Servicing Agreement and any intervening assignments
with evidence of recording thereon that are required to be included in the
Mortgage File (so long as original counterparts have previously been delivered
to the Trustee).

            2. This power of attorney shall be limited to the above-mentioned
exercise of power.

            3. This instrument is to be construed and interpreted as a limited
power of attorney. The enumeration of specific items, rights, acts or powers
herein is not intended to, nor does it give rise to, and it is not intended to
be construed as, a general power of attorney.

            4. The rights, power of authority of said attorney herein granted
shall commence and be in full force and effect on the date hereof and such
rights, powers and authority shall remain in full force and effect until the
termination of the Pooling and Servicing Agreement, dated as of June 1, 2002
(the "Pooling and Servicing Agreement"), among Morgan Stanley Dean Witter
Capital I Inc., as Depositor, ORIX Capital Markets, LLC, as Master Servicer, the
Special Servicer, the Trustee and ABN AMRO Bank N.V., as Fiscal Agent, with
respect to the Trust.

            Capitalized terms used herein but not defined herein shall have the
meanings assigned to them in the Pooling and Servicing Agreement.

<PAGE>

IN WITNESS WHEREOF, I have hereunto set my hand this ____ day of June, 2002.

Witnessed by:                           [SELLER]

___________________________             By:________________________
Print Name:                                Name:
                                           Title:

STATE OF______________________)

COUNTY OF_____________________)

On __________________________, before me, a Notary Public in and for said
county, personally appeared ________________________________, personally known
to me (or proved to me on the basis of satisfactory evidence) to be the person
whose name is subscribed to the within instrument and acknowledged to me that
he/she executed the same in his/her authorized capacity, and that by his/her
signature on the instrument the person acted and executed the instrument.
Witness my hand and official seal.

_______________________________________
Commission Expires:

<PAGE>
                                   EXHIBIT L
                           FORM OF INSPECTION REPORT

<PAGE>

MORTGAGE BANKERS                                           Loan Number:
ASSOCIATION OF AMERICA                                     Investor Number:
[GRAPHIC OMITTED]                                          Reviewed By:
STANDARD INSPECTION FORM                                   Property Type:
                                                           Page 1 of 3
I.   LOAN/ INSPECTION INFORMATION

     Servicer Name:                                   Overall Property Rating:
     Lender/Investor                                  Deferred Maintenance?
     Borrower:                                        Date of Inspection:
     Property Name:                                   Inspected By:
     Property Address:                                Inspector Name:
     City, State, Zip:                                Rent Roll Attached?
     Borrower Contact:
     Contact Phone:                                   Loan Balance:

II.   MARKET DATA

     Area:                             Development:
     Growth Rate:                     Present Use - %:            Single Family
     Change in Current Use:                                       2-4 Family
     New Construction:                                            Apartment
     Area Trends Appear to be:                                    Commercial
     Major Competition:                                           Industrial
                                                                  Undeveloped

     Describe Surrounding Area and Land Use:

     Describe the Subject's Competition in the Marketplace:

     Site Data

            Please answer each question using ABOVE AVERAGE, AVERAGE, OR BELOW
AVERAGE ratings

     Street Appeal                            Access to Major Arteries:
     Visibility:                              Access to Local Amenities:
     Ingress and Egress:                      Access to Public Transportation:
     Traffic Volume                           Compatibility with Neighborhood:

III.  MANAGEMENT INFORMATION

     Management Company Name:                                     Phone Number:
     Site Contact:
     Is Management Affiliated with Borrower:
     Frequency Property Manager visits the property? Management of the Property
     Appears to be:

<PAGE>

MORTGAGE BANKERS                                           Loan Number:
ASSOCIATION OF AMERICA                                     Investor Number:
[GRAPHIC OMITTED]                                          Reviewed By:
STANDARD INSPECTION FORM                                 Property Type:       0
                                                                     Page 2 of 3
IV.   PROPERTY INFORMATION

     Number of Buildings:                            Square Feet:
     Number of Units:                                Number of Units Occupied:
     Number of Floors:                               Percent Occupied:
     Number of Parking Spaces:                       Owner Occupied:
     Number of Elevators:

     Occupancy Data

            OFFICE/RETAIL/INDUSTRIAL

Five Largest
Commercial Tenants    Expiration   Sq. Ft.  %NRA   Annual Rent   Rent/Sq. Ft.

            MULTIFAMILY/HOSPITALITY/HEALTHCARE/MOBILE

     Unit Type     # of Units    Avg. Sq.Ft./Unit   Monthly Rent     # Vacant

     Amenities

     1                    6                    11
     2                    7                    12
     3                    8                    13
     4                    9                    14
     5                   10                    15

     Improvements

     Describe in detail what Repairs, Replacements or Improvements have been or
will be made this year.

     Describe in detail what Repairs, Replacements or Improvements have been
planned for the next 1-2 years.

<PAGE>

MORTGAGE BANKERS                                           Loan Number:
ASSOCIATION OF AMERICA                                     Investor Number:
[GRAPHIC OMITTED]                                          Reviewed By:
STANDARD INSPECTION FORM                                   Property Type:   0
                                                                     Page 3 of 3
V.   PROPERTY CONDITION

            Please answer each question using EXCELLENT, GOOD, FAIR, POOR, NOT
ACCESSIBLE, NOT INSPECTED, OR N/A ratings

     Exterior                                       Interior

     Ingress/Egress                                 Lobbies
     Parking Lot                                    Hallways
     Striping                                       Stairways
     Drainage                                       Interior Walls
     Retaining Walls                                Painting/Wallcover
     Sidewalks                                      Flooring/Carpets/Tiles
     Landscaping                                    Ceilings
     Signage                                        Interior Doors
     Site Lighting                                  Windows
     Roof Condition                                 Kitchens
     Flashing/Eaves/Ventilators                     Appliances
     Gutters/Downspouts                             Fixtures
     Foundations                                    Cabinets
     Stairs/Railings                                Plumbing/Bathrooms
     Glazing/Windows                                Electrical
     Storefronts                                    Lighting
     Exterior Doors                                 HVAC System
     Amenities                                      Basement
     Loading Docks                                  Mechanical Rooms
     Paint                                          Boilers/Water Heaters
     Siding/Trim                                    Laundry Rooms
     Balconies                                      Elevators/Escalators
     Security                                       Sprinklers/Fire Protection
     Refuse/Disposal                                Amenities
     Other 1                                        Other 1
     Other 2                                        Other 2

     Deferred Maintenance

            Describe any deferred maintenance observed. Please also include
comments for fair or poor item noted above, as well as any health & safety
concerns.

        ATTACH A MINIMUM OF EIGHT PHOTOGRAPHS INCLUDING BOTH EXTERIOR AND
                                 INTERIOR SHOTS

<PAGE>
                                   EXHIBIT M
                    FORM OF MONTHLY CERTIFICATEHOLDER REPORT

<TABLE>
ABN AMRO                           Morgan Stanley Dean Witter Capital I Trust           Statement Date:
LaSalle Bank N.A.                  Commercial Mortgage Pass-Through Certificates        Payment Date:
135 S. LaSalle Street                            Series 2002-IQ2                        Prior Payment:
Suite 1625                                                                              Next Payment:
Chicago, IL 60603                                                                       Record Date:
                                           ABN AMRO Acct: XX-XXXX-XX-X
Administrator:                                                                          Analyst:

                                      Reporting Package Table of Contents
==============================================================================================================
Issue Id:
Monthly Data File Name:
==============================================================================================================
<S>                                                    <C>
                                                        Page(s)
REMIC Certificate Report
Bond Interest Reconciliation
Cash Reconciliation Summary
15 Month Historical Loan Status Summary
15 Month Historical Payoff/Loss Summary
Historical Collateral Level Prepayment Report
Delinquent Loan Detail
Mortgage Loan Characteristics
Loan Level Detail
Specially Serviced Report
Modified Loan Detail
Realized Loss Detail
Appraisal Reduction Detail
==============================================================================================================
Closing Date:
First Payment Date:
Assumed Final Payment Date:
==============================================================================================================
                                              Contact Information
                          Issuer: Morgan Stanley Dean Witter Capital I Trust 2002-IQ2
                             Depositor: Morgan Stanley Dean Witter Capital I Inc.
                Underwriter: Morgan Stanley & Co. Inc. / Credit Suisse First Boston Corporation
                                  Master Servicer: ORIX Capital Markets, LLC
                              Special Servicer: Lend Lease Asset Management, L.P.
                          Rating Agency: Fitch, Inc. / Standard & Poor's Corporation

==============================================================================================================
                      Information is available for this issue from the following sources
                  LaSalle Web Site                                               www.etrustee.net

==============================================================================================================

06/18/2002 - 14:30 (MXXX-MXXX) copyright 2001 LaSalle Bank N.A.

</TABLE>
<PAGE>

<TABLE>
ABN AMRO                         Morgan Stanley Dean Witter Capital I Trust        Statement Date:
LaSalle Bank N.A.               Commercial Mortgage Pass-Through Certificates      Payment Date:
                                              Series 2002-IQ2                      Prior Payment:
                                                                                   Next Payment:
                                                                                   Record Date:

                                         ABN AMRO Acct: XX-XXXX-XX-X
===============================================================================================================================

         Original                                 Principal                                                      Pass-Through
           Face             Opening    Principal  Adj. or     Negative    Closing                      Interest   Rate (2)
 Class    Value (1)         Balance    Payment    Loss Per  Amortization  Balance    Interest Payment  Adjustment Next Rate
 Cusip    Per 1,000         Per 1,000  Per 1,000    1,000     Per 1,000   Per 1,000     Per 1,000      Per 1,000     (3)
-------------------------------------------------------------------------------------------------------------------------------
<S>          <C>         <C>        <C>       <C>          <C>        <C>               <C>         <C>

--------------------------------------------------------------------------------------------------------------
                    0.00       0.00      0.00          0.00      0.00               0.00      0.00        0.00
--------------------------------------------------------------------------------------------------------------
                                                                      Total P&I Payment       0.00
--------------------------------------------------------------------------------------------------------------

Notes: (1) N denotes notional balance not included in total (2) Interest Paid minus Interest Adjustment minus
      Deferred Interest equals Accrual (3) Estimated
</TABLE>

06/18/2002 - 14:30 (MXXX-MXXX) copyright 2001 LaSalle Bank N.A.

<PAGE>
<TABLE>
<CAPTION>

ABN AMRO                         Morgan Stanley Dean Witter Capital I Trust        Statement Date:
LaSalle Bank N.A.               Commercial Mortgage Pass-Through Certificates      Payment Date:
                                              Series 2002-IQ2                      Prior Payment:
                                                                                   Next Payment:
                                                                                   Record Date:

                                          ABN AMRO Acct: XX-XXXX-XX-X
                                         BOND INTEREST RECONCILIATION

                                                                                            Deductions
                                                              --------------------------------------------------------------------
                         Accrual
                      ---------------  Accrued Certificate                      Add. Trust        Deferred &      Interest
Class                 Method     Days       Interest          Allocable PPIS    Expense (1)   Accretion Interest   Losses
----------------------------------------------------------------------------------------------------------------------------------
<S>                  <C>         <C>   <C>                    <C>               <C>           <C>                 <C>

------------------------------------------------------------------------------------------------------------------------------------
                                                        0.00              0.00           0.00                0.00             0.00
------------------------------------------------------------------------------------------------------------------------------------

</TABLE>

<TABLE>
<CAPTION>

(table continued)
                                               Additions
                      -----------------------------------------------
                                                                                                           Remaining
                       Prio Int.                                        Distributable                    Outstanding
                      Short-falls      Prepayment     Other Interest    Certificate   Interest Payment     Interest
Class                    Due            Penalties       Proceeds (2)       Interest         Amount         Short-falls
----------------------------------------------------------------------------------------------------------------------
<S>                  <C>              <C>             <C>               <C>           <C>               <C>

-----------------------------------------------------------------------------------------------------------------------
         0.00               0.00             0.00            0.00             0.00             0.00
-----------------------------------------------------------------------------------------------------------------------

(table continued)

                            Credit Support
                        -------------------------
Class                   Original      Current (3)
--------------------------------------------------

(1)   Additional Trust Expenses are fees allocated directly to the bond resulting in a deduction to accrued
      interest and not carried as an outstanding shortfall.

(2)   Other Interest Proceeds include default interest, PPIE and Recoveries of Interest.

(3)   Determined as follows: (A) the ending balance of all the classes less (B) the sum of (i) the ending
      balance of the class and (ii) the ending balance of all classes which are not subordinate to the class
      divided by (A).

</TABLE>
06/18/2002 - 14:30 (MXXX-MXXX) copyright 2001 LaSalle Bank N.A.

<PAGE>
<TABLE>
<CAPTION>

ABN AMRO                         Morgan Stanley Dean Witter Capital I Trust        Statement Date:
LaSalle Bank N.A.               Commercial Mortgage Pass-Through Certificates      Payment Date:
                                              Series 2002-IQ2                      Prior Payment:
                                                                                   Next Payment:
                                                                                   Record Date:

                                               ABN AMRO Acct: XX-XXXX-XX-X

                                               Cash Reconciliation Summary

==============================================================================================================

       Interest Summary
================================================================================
Current Scheduled Interest
Less Deferred Interest
Plus Advance Interest
Plus Unscheduled Interest
PPIS Reducing Scheduled Interest
Less Total Fees Paid To Servicer
Plus Fees Advanced for PPIS
Less Fee Strips Paid by Servicer
Less Misc. Fees & Expenses
Less Non Recoverable Advances
================================================================================
Interest Due Trust
================================================================================
Less Trustee Fee
Less Fee Strips Paid by Trust
Less Misc. Fees Paid by Trust
================================================================================
Remittance Interest
================================================================================

         Servicing Fee Summary
================================================================================
Current Servicing Fees
Plus Fees Advanced for PPIS
Less Reduction for PPIS
Plus Unscheduled Servicing Fees
================================================================================
Total Servicing Fees Paid
================================================================================

             PPIS Summary
================================================================================
Gross PPIS
Reduced by PPIE
Reduced by Shortfalls in Fees
Reduced by Other Amounts
================================================================================
PPIS Reducing Scheduled Interest
================================================================================
PPIS Reducing Servicing Fee
================================================================================
PPIS Due Certificate
================================================================================

         Pool Balance Summary
================================================================================
                                            Balance           Count
================================================================================
Beginning Pool
Scheduled Principal Distribution
Unscheduled Principal Distribution
Deferred Interest
Liquidations
Repurchases
Ending Pool
================================================================================

           Principal Summary

Scheduled Principal:
================================================================================
Current Scheduled Principal
Advanced Scheduled Principal
================================================================================
Scheduled Principal Distribution
================================================================================
Unscheduled Principal:

Curtailments
Prepayments in Full
Liquidation Proceeds
Repurchase Proceeds
Other Principal Proceeds
================================================================================
Unscheduled Principal Distribution
================================================================================
Remittance Principal
================================================================================

Servicer Wire Amount

==========================================================================================================

                                                   Advances
     Prior Outstanding             Current Period                Recovered              Ending Outstanding
Principal      Interest      Principal     Interest     Principal     Interest      Principal     Interest
<S>           <C>            <C>           <C>          <C>           <C>           <C>           <C>

</TABLE>
06/18/2002 - 14:30 (MXXX-MXXX)copyright 2001 LaSalle Bank N.A.

<PAGE>
<TABLE>
<CAPTION>

ABN AMRO                            Morgan Stanley Dean Witter Capital I Trust         Statement Date:
LaSalle Bank N.A.                   Commercial Mortgage Pass-Through Certificates      Payment Date:
                                                  Series 2002-IQ2                      Prior Payment:
                                                                                       Next Payment:
                                                                                       Record Date:

                                        ABN AMRO Acct: XX-XXXX-XX-X

                        ASSET BACKED FACTS ~ 15 MONTH HISTORICAL LOAN STATUS SUMMARY

=================================================================================================================
                                                    Delinquency Aging Categories
-----------------------------------------------------------------------------------------------------------------
                    Delinq 1 Month      Delinq 2 Months      Delinq 3+ Months       Foreclosure          REO
-----------------------------------------------------------------------------------------------------------------
Distribution Date    #       Balance      #      Balance      #       Balance      #     Balance     #    Balance
-----------------------------------------------------------------------------------------------------------------
<S>                <C>     <C>         <C>       <C>         <C>      <C>         <C>    <C>             <C>

(table continued)

                                 Special Event Categories (1)
--------------------------------------------------------------------------------
                    Modifications      Specially Serviced       Bankruptcy
--------------------------------------------------------------------------------
Distribution Dae    #      Balance        #         Balance    #    Balance
--------------------------------------------------------------------------------

(1)   Note: Modification, Specially Serviced & Bankruptcy Totals are Included in
      the Appropriate Delinquency Aging Category

</TABLE>

06/18/2002 - 14:30 (MXXX-MXXX) copyright 2001 LaSalle Bank N.A.

<PAGE>
<TABLE>
<CAPTION>

ABN AMRO                                                      Morgan Stanley Dean Witter Capital I Trust          Statement Date:
LaSalle Bank N.A.                                            Commercial Mortgage Pass-Through Certificates        Payment Date:
                                                                           Series 2002-IQ2                        Prior Payment:
                                                                                                                  Next Payment:
                                                                                                                  Record Date:

                                                                  ABN AMRO Acct: XX-XXXX-XX-X

                                                  Asset Backed Facts ~15 Month Historical Payoff/Loss Summary

=================================================================================================================
Distribution Date   Ending Pool (1)     Payoffs (2)       Penalties     Appraisal Reduct. (2)    Liquidations (2)
                  #       Balance       #    Balance     #     Amount      #       Balance        #       Balance
-----------------------------------------------------------------------------------------------------------------
<S>                 <C>                 <C>              <C>             <C>      <C>             <C>     <C>

(table continued)

--------------------------------------------------------------------------------
Distribution Date   Realized Losses (2)   Remaining Term  Curr Weighted Avg.
                    #     Amount        Life    Amort.    Coupon    Remit
--------------------------------------------------------------------------------

</TABLE>

(1)   Percentage based on pool as of cutoff. (2) Percentage based on pool as of
      beginning of period.

06/18/2002 - 14:30 (MXXX-MXXX) copyright 2001 LaSalle Bank N.A.

<PAGE>
<TABLE>
<CAPTION>

ABN AMRO                         Morgan Stanley Dean Witter Capital I Trust        Statement Date:
LaSalle Bank N.A.               Commercial Mortgage Pass-Through Certificates      Payment Date:
                                              Series 2002-IQ2                      Prior Payment:
                                                                                   Next Payment:
                                                                                   Record Date:

                           ABN AMRO Acct: XX-XXXX-XX-X

                  Historical Collateral Level Prepayment Report

====================================================================================================================================
  Disclosure     Distribution      Initial             Payoff    Penalty    Prepayment   Maturity    Property                  DSCR
   Control #         Date          Balance     Code    Amount     Amount       Date        Date        Type       State
====================================================================================================================================
<S>              <C>              <C>          <C>     <C>       <C>        <C>          <C>         <C>          <C>         <C>

--------------------------------------------------------------------------------
                                Cumulative                     0         0
--------------------------------------------------------------------------------
</TABLE>

(table continued)
================================================================================
  Disclosure             Remaining Term         Note
   Control #            Life       Amort.       Rate
================================================================================

06/18/2002 - 14:30 (MXXX-MXXX) copyright 2001 LaSalle Bank N.A.

<PAGE>
<TABLE>
<CAPTION>

ABN AMRO                                        Morgan Stanley Dean Witter Capital I Trust                        Statement Date:
LaSalle Bank N.A.                              Commercial Mortgage Pass-Through Certificates                      Payment Date:
                                                             Series 2002-IQ2                                      Prior Payment:
                                                                                                                  Next Payment:
                                                                                                                  Record Date:

                                                    ABN AMRO Acct: XX-XXXX-XX-X

                                                      Delinquent Loan Detail

====================================================================================================================================
                                                                                 Out.
                                    Paid    Current          Outstanding       Property
                                    Thru     P&I               P&I           Protection  Advance Description   Special Servicer
Disclosure Doc Control #            Date    Advance           Advances**       Advances           (1)             Transfer Date
====================================================================================================================================
<S>                                 <C>    <C>               <C>            <C>          <C>                  <C>

(table continued)

================================================================================
                                    Foreclosure    Bankruptcy
Disclosure Doc Control #              Date          Date               REO Date
================================================================================

</TABLE>

--------------------------------
A. P&I Advance - Loan on Grace Period
B. P&I Advance - Late Payment but < one month delinq

1. P&I Advance - Loan delinquent 1 month
2. P&I Advance - Loan delinquent 2 months
3. P&I Advance - Loan delinquent 3 months or More
4. Matured Balloon/Assumed Scheduled Payment

** Outstanding P&I Advances include the current period P&I Advance

06/18/2002 - 14:30 (MXXX-MXXX) copyright 2001 LaSalle Bank N.A.
<PAGE>

<TABLE>
<CAPTION>

ABN AMRO                         Morgan Stanley Dean Witter Capital I Trust        Statement Date:
LaSalle Bank N.A.               Commercial Mortgage Pass-Through Certificates      Payment Date:
                                              Series 2002-IQ2                      Prior Payment:
                                                                                   Next Payment:
                                                                                   Record Date:

            ABN AMRO Acct: XX-XXXX-XX-X

                         Mortgage Loan Characteristics

Distribution of Principal Balances

======================================================================================================================
           Current Scheduled Balances                # of        Scheduled       % of          Weighted Average
                                                    Loans         Balance      Balance     Term       Coupon     DSCR
======================================================================================================================
        <S>                                        <C>         <C>            <C>         <C>        <C>        <C>

                                                        0                0      0.00%

Average Scheduled Balance
Maximum Scheduled Balance
Minimum Scheduled Balance

</TABLE>

Distribution of Mortgage Interest Rates
<TABLE>
<CAPTION>

=====================================================================================================================
         Current Mortgage Interest Rate              # of       Scheduled      % of           Weighted Average
                                                    Loans        Balance     Balance      Term        Coupon     DSCR
=====================================================================================================================
         <S>                                        <C>         <C>         <C>           <C>         <C>      <C>

                                                            0              0     0.00%

Minimum Mortgage Interest Rate                                      10.0000%
Maximum Mortgage Interest Rate                                      10.0000%
</TABLE>
<TABLE>
<CAPTION>

Distribution of Remaining Term (Fully Amortizing)

=====================================================================================================================
        Fully Amortizing Mortgage Loans            # of        Scheduled        % of           Weighted Average
                                                  Loans         Balance       Balance      Term       Coupon     DSCR
=====================================================================================================================
       <S>                                        <C>         <C>          <C>           <C>         <C>      <C>

                                                          0                 0     0.00%

Minimum Remaining Term
Maximum Remaining Term

</TABLE>
<TABLE>
<CAPTION>

Distribution of Remaining Term (Balloon)

====================================================================================================================================
                  Balloon                         # of         Scheduled        % of                   Weighted Average
               Mortgage Loans                     Loans         Balance       Balance         Term          Coupon          DSCR
====================================================================================================================================
      <S>                                        <C>          <C>            <C>            <C>            <C>             <C>
       0              to             60
      61              to            120
      121             to            180
      181             to            240
      241             to            360

                                                    0              0           0.00%

Minimum Remaining Term                            0
Maximum Remaining Term                            0

06/18/2002 - 14:30 (MXXX-MXXX) copyright 2001 LaSalle Bank N.A.

</TABLE>
<PAGE>
<TABLE>
<CAPTION>

ABN AMRO                                      Morgan Stanley Dean Witter Capital I Trust                        Statement Date:
LaSalle Bank N.A.                            Commercial MortgagePass-Though Certificates                        Payment Date:
                                                           Series 2002-IQ2                                      Prior Payment:
                                                                                                                Next Payment:
                                                                                                                Record Date:

                                                  ABN AMRO Acct: XX-XXXX-XX-X

                                                 Mortgage Loan Characteristics

Distribution of DSCR (Current)

====================================================================================================================================
                Debt Service                      # of         Scheduled        % of           WAMM            WAC           DSCR
               Coverage Ratio                     Loans         Balance        Balance
====================================================================================================================================
             <S>                                 <C>           <C>            <C>             <C>             <C>           <C>

                                                          0              0          0.00%

Maximum DSCR                           0.00
Minimum DSCR                           0.00

Geographic Distribution
====================================================================================================================================
                                                  # of         Scheduled        % of           WAMM            WAC           DSCR
                   State                          Loans         Balance        Balance
====================================================================================================================================

                                                          0                         0.00%

Maximum DSCR                           0.00
Minimum DSCR                           0.00

Distribution of DSCR (Cutoff)

====================================================================================================================================
                Debt Service                      # of         Scheduled        % of           WAMM            WAC           DSCR
               Coverage Ratio                     Loans         Balance        Balance
====================================================================================================================================

                                                          0              0          0.00%

Minimum DSCR
Maximum DSCR

06/18/2002 - 14:30 (MXXX-MXXX) copyright 2001 LaSalle Bank N.A.
</TABLE>

<PAGE>
<TABLE>
<CAPTION>

ABN AMRO                         Morgan Stanley Dean Witter Capital I Trust        Statement Date:
LaSalle Bank N.A.               Commercial Mortgage Pass-Through Certificates      Payment Date:
                                              Series 2002-IQ2                      Prior Payment:
                                                                                   Next Payment:
                                                                                   Record Date:

                           ABN AMRO Acct: XX-XXXX-XX-X

                          Mortgage Loan Characteristics

Distribution of Property Types

====================================================================================================================================
                                                  # of         Scheduled        % of           WAMM            WAC           DSCR
               Property Types                     Loans         Balance        Balance
====================================================================================================================================
              <S>                                <C>           <C>            <C>             <C>             <C>           <C>

                                                          0              0          0.00%

Distribution of Loan Seasoning
====================================================================================================================================
                                                  # of         Scheduled        % of           WAMM            WAC           DSCR
              Number of Years                     Loans         Balance        Balance
====================================================================================================================================

                                                          0              0          0.00%

Distribution of Amortization Type
====================================================================================================================================
             Current Scheduled                    # of         Scheduled        % of           WAMM            WAC           DSCR
                  Balances                        Loans         Balance        Balance
====================================================================================================================================

                                                          0              0          0.00%

Distribution of Year Loans Maturing
====================================================================================================================================
                                                  # of         Scheduled        % of           WAMM            WAC           DSCR
                    Year                          Loans         Balance        Balance
====================================================================================================================================
                    1998
                    1999
                    2000
                    2001
                    2002
                    2003
                    2004
                    2005
                    2006
                    2007
                    2008
               2009 & Longer
                                                          0              0          0.00%

06/18/2002 - 14:30 (MXXX-MXXX) copyright 2001 LaSalle Bank N.A.
</TABLE>

<PAGE>
<TABLE>
<CAPTION>

ABN AMRO                                          Morgan Stanley Dean Witter Capital I Trust                        Statement Date:
LaSalle Bank N.A.                                Commercial Mortgage Pass-Through Certificates                      Payment Date:
                                                               Series 2002-IQ2                                      Prior Payment:
                                                                                                                    Next Payment:
                                                                                                                    Record Date:

                                                      ABN AMRO Acct: XX-XXXX-XX-X

                                                           Loan Level Detail

====================================================================================================================================

                                                                                   Ending                              Spec.
  Disclosure   Grp   Property Type    State  DSCR  NOI   Operating    Maturity    Principal   Note Rate  Scheduled   P&IMod. Service
  Control #                                            Statement Date   Date      Balance                   P&I       Flag    Flag
====================================================================================================================================
<S>           <C>   <C>              <C>    <C>  <C>  <C>            <C>         <C>         <C>          <C>        <C>    <C>

                                     W/Avg   0.00 0                             0                      0

(TABLE CONTINUED)

================================================================================
 ASER   Loan               Prepayment
  Flag  Status
         Code(1)  Amount        Penalty     Date
================================================================================

*     NOI and DSCR, if available and reportable under the terms of the Pooling and Servicing Agreement, are
      based on information obtained from the related borrower, and no other party to the agreement shall be
      held liable for the accuracy or methodology used to determine such figures.
</TABLE>
(1) Legend:

A.    P&I Adv - in Grace Period

B.    P&I Adv - < one month delinq

1.    P&I Adv - delinquent 1 month

2.    P&I Adv - delinquent 2 months
3.    P&I Adv - delinquent 3+ months
4.    Mat. Balloon/Assumed P&I
5.    Prepaid in Full
6.    Specially Serviced
7.    Foreclosure
8.    Bankruptcy
9.    REO
10.   DPO
11.   Modification

06/18/2002 - 14:30 (MXXX-MXXX) copyright 2001 LaSalle Bank N.A.

<PAGE>
<TABLE>
<CAPTION>

ABN AMRO                         Morgan Stanley Dean Witter Capital I Trust        Statement Date:
LaSalle Bank N.A.               Commercial Mortgage Pass-Through Certificates      Payment Date:
                                              Series 2002-IQ2                      Prior Payment:
                                                                                   Next Payment:
                                                                                   Record Date:

                                         ABN AMRO Acct: XX-XXXX-XX-X

                                  Specially Serviced (Part I) ~ Loan Detail

====================================================================================================================================

   Disclosure      Transfer               Balance           Note      Maturity    Remaining Term
   Control #         Date         Scheduled       Actual    Rate       Date        Life      Amort.          Property Type
====================================================================================================================================
<S>               <C>            <C>             <C>       <C>        <C>        <C>        <C>             <C>

(table continued)
================================================================================
   Disclosure
   Control #       State         NOI         DSCR     NOI Date
================================================================================

06/18/2002 - 14:30 (MXXX-MXXX) copyright 2001 LaSalle Bank N.A.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>

ABN AMRO                         Morgan Stanley Dean Witter Capital I Trust        Statement Date:
LaSalle Bank N.A.               Commercial Mortgage Pass-Through Certificates      Payment Date:
                                              Series 2002-IQ2                      Prior Payment:
                                                                                   Next Payment:
                                                                                   Record Date:

                                         ABN AMRO Acct: XX-XXXX-XX-X

                         Specially Serviced Loan Detail (Part II) ~ Servicer Comments

            Disclosure                         Resolution                                                       Comments
            Control #                           Strategy

           <S>                                 <C>

</TABLE>

06/18/2002 - 14:30 (MXXX-MXXX) copyright 2001 LaSalle Bank N.A.

<PAGE>
<TABLE>
<CAPTION>

ABN AMRO                         Morgan Stanley Dean Witter Capital I Trust        Statement Date:
LaSalle Bank N.A.               Commercial Mortgage Pass-Through Certificates      Payment Date:
                                              Series 2002-IQ2                      Prior Payment:
                                                                                   Next Payment:
                                                                                   Record Date:

                                                   ABN AMRO Acct: XX-XXXX-XX-X

                                                      Modified Loan Detail

 Disclosure Control #   Modification Date      Modification Code                                             Modification
                                                                                                             Description
<S>                    <S>                    <S>                                                           <C>

</TABLE>

6/18/2002 - 14:30 (MXXX-MXXX) copyright 2001 LaSalle Bank N.A.

<PAGE>

<TABLE>
<CAPTION>

ABN AMRO                         Morgan Stanley Dean Witter Capital I Trust        Statement Date:
LaSalle Bank N.A.               Commercial Mortgage Pass-Through Certificates      Payment Date:
                                              Series 2002-IQ2                      Prior Payment:
                                                                                   Next Payment:
                                                                                   Record Date:

                                         ABN AMRO Acct: XX-XXXX-XX-X

                                             Realized Loss Detail
====================================================================================================================================
Distribution      Disclosure    Appraisal    Appraisal      Beginning     Gross       Gross Proceeds        Aggregate
Period            Control #     Date         Value          Scheduled     Proceeds    as a % of             Liquidation
                                                            Balance                   Sched Principal       Expenses *
====================================================================================================================================
<S>              <C>           <C>          <C>            <C>           <C>         <C>                   <C>

Current Total                                               0.00          0.00                              0.00
Cumulative                                                  0.00          0.00                              0.00

</TABLE>

(table continued)

================================================================================
                     Net          Net Proceeds       Realized
Distribution      Liquidation     as a % of          Loss
Period            Proceeds        Sched. Balance
================================================================================

Current Total        0.00                               0.00
Cumulative           0.00                               0.00

*     Aggregate liquidation expenses also include outstanding P&I advances and
      unpaid servicing fees, unpaid trustee fees, etc.

06/18/2002 - 14:30 (MXXX-MXXX) copyright 2001 LaSalle Bank N.A.

<TABLE>
<CAPTION>

<PAGE>
ABN AMRO                                          Morgan Stanley Dean Witter Capital I Trust                        Statement Date:
LaSalle Bank N.A.                                Commercial MortgagePass-Though Certificates                        Payment Date:
                                                            Series 2002-IQ2 Prior                                   Payment:
                                                                                                                    Next Payment:
                                                                                                                    Record Date:

                                                      ABN AMRO Acct: XX-XXXX-XX-X

                                                      Appraisal Reduction Detail

==============================================================================================================
    Disclosure    Appraisal  Scheduled     Reduction    Note Rate  Maturity Date   Remaining                    Property Type
                                                                                     Term
    Control #     Red. Date   Balance       Amount                                   Life       Amort.
==============================================================================================================
   <S>           <C>         <C>           <C>         <C>         <C>              <C>         <C>             <C>

================================================================================
 Disclosure                                Appraisal
 Control #      State      DSCR        Value      Date

================================================================================

</TABLE>

06/18/2002 - 14:30 (MXXX-MXXX) copyright 2001 LaSalle Bank N.A.

<PAGE>

                                   EXHIBIT N
                  FORM OF OPERATING STATEMENT ANALYSIS REPORT

                 COMMERCIAL OPERATING STATEMENT ANALYSIS REPORT
      (includes Retail/Office/Industrial/Warehouse/Mixed Use/Self Storage)
                                 as of MM/DD/YY
<TABLE>
<CAPTION>

<S>                                                      <C>              <C>           <C>             <C>            <C>
PROPERTY OVERVIEW
      Prospectus ID

      Current Scheduled Loan Balance/Paid to Date                                                    Current Allocated Loan Amount %
      Property Name
      Property Type
      Property Address, City, State
      Net Rentable SF/Units/Pads,Beds                                              Use second box to specify sqft.,units...
      Year Built/Year Renovated
      Cap Ex Reserve (annually)/per Unit.etc. (1)                                         specify annual/per unit...
      Year of Operations                                 Underwriting     MM/DD/YY      MM/DD/YY        MM/DD/YY       MM/DD/YY
      Occupancy Rate (physical)
      Occupancy Date
      Average Rental Rate

                       (1) Total $ amount of Capital Reserves required annually by loan documents, excl. Leasing Commission and TI's
</TABLE>
  INCOME:
<TABLE>
<CAPTION>

<S>                                    <C>            <C>          <C>         <C>                <C>       <C>        <C>
                                                                                                           (prcdng yr (prcdng yr to
      Number of Mos. Covered                                                                                  to base   2nd prcdng)
      Period Ended                     Underwriting   3rd          2nd         Preceding Yr.      TTM/YTD (2)   YYYY-U/W  YYYY-YYYY
      Statement Classification(yr)       Base Line    Preceding    Preceding   (fm NOI Adj Sheet) as of / /XX   Variance  Variance
      Gross Potential Rent (3)
         Less: Vacancy Loss

                          OR
      Base Rent (3)
      Expense Reimbursement
      Percentage Rent
      Parking Income
      Other Income

  *Effective Gross Income

                       (2) Servicer will not be expected to "Normalize" these YTD/TTM numbers.
                       (3) Use either Gross Potential (with Vacancy Loss) or Base Rents; use negative $amt for Vacancy Loss

  OPERATING EXPENSES:
      Real Estate Taxes
      Property Insurance
      Utilities
      Repairs and Maintenance
      Janitorial
      Management Fees
      Payroll & Benefits
      Advertising & Marketing
      Professional Fees
      General and Administrative
      Other Expenses
      Ground Rent

 *Total Operating Expenses

  Operating Expense Ratio

 *Net Operating Income

      Leasing Commissions
      Tenant Improvements
      Capital Expenditures

      Extraordinary Capital Expenditures
  Total Capital Items

 *Net Cash Flow

  Debt Service (per Servicer)
 *Net Cash Flow after Debt Service

 *DSCR: (NOI/Debt Service)

 *DSCR: (NCF/Debt Service)

  Source of Financial Data:
       (ie. operating statements, financial statements, tax return, other)
</TABLE>
Notes and Assumptions: Years above will roll, always showing a 3yr sequential
history. Comments from the most recent NOI Adjustment Worksheet should be
carried forward to Operating Statement Analysis Report. Year-over-year variances
(either higher or lower) must be explained and noted for the following: >10%
DSCR change, >15% EGI/Total Operating Expenses or Total Capital Items.

Income: Comments

Expense: Comments

Capital Items: Comments

* Used in the CMSA Comparative Financial Status Report/CMSA Property File/CMSA
Loan Periodic Update File. Note that information for multiple property loans
must be consolidated (if available) for reporting to the CMSA Loan Periodic
Update file.

                                    Page 48

<PAGE>

  MULTIFAMILY OPERATING STATEMENT ANALYSIS REPORT (includes Mobile Home Parks)
                                 as of MM/DD/YY
 PROPERTY OVERVIEW
      Prospectus ID

<TABLE>
<CAPTION>

<S>                                                      <C>              <C>           <C>             <C>            <C>

      Current Scheduled Loan Balance/Paid to Date                                                    Current Allocated Loan Amount %
      Property Name
      Property Type
      Property Address, City, State
      Net Rentable SF/Units/Pads,Beds                                              Use second box to specify sqft.,units...
      Year Built/Year Renovated
      Cap Ex Reserve (annually)/per Unit.etc. (1)                                         specify annual/per unit...
      Year of Operations                                 Underwriting     MM/DD/YY      MM/DD/YY        MM/DD/YY       MM/DD/YY
      Occupancy Rate (physical)
      Occupancy Date
      Average Rental Rate

                        (1) Total $ amount of Capital Reserves required annually by loan documents.
</TABLE>

  INCOME:
<TABLE>
<CAPTION>

<S>                                    <C>            <C>          <C>         <C>                <C>       <C>        <C>
                                                                                                           (prcdng yr (prcdng yr to
      Number of Mos. Covered                                                                                  to base   2nd prcdng)
      Period Ended                     Underwriting   3rd          2nd         Preceding Yr.      TTM/YTD (2)   YYYY-U/W  YYYY-YYYY
      Statement Classification(yr)       Base Line    Preceding    Preceding   (fm NOI Adj Sheet) as of / /XX   Variance  Variance
      Gross Potential Rent (3)
         Less: Vacancy Loss

                          OR
      Base Rent (3)
      Laundry/Vending Income
      Parking Income
      Other Income

  *Effective Gross Income

                        (2) Servicer will not be expected to "Normalize" these YTD/TTM numbers.
                        (3) Use either Gross Potential (with Vacancy Loss) or Base Rents; use negative $amt for Vacancy Loss

  OPERATING EXPENSES:
      Real Estate Taxes
      Property Insurance
      Utilities
      Repairs and Maintenance
      Management Fees
      Payroll & Benefits
      Advertising & Marketing
      Professional Fees
      General and Administrative
      Other Expenses
      Ground Rent

 *Total Operating Expenses

  Operating Expense Ratio

 *Net Operating Income

      Capital Expenditures
      Extraordinary Capital Expenditures

  Total Capital Items

 *Net Cash Flow

  Debt Service (per Servicer)
 *Net Cash Flow after Debt Service

 *DSCR: (NOI/Debt Service)

 *DSCR: (NCF/Debt Service)

  Source of Financial Data:
       (ie. operating statements, financial statements, tax return, other)
</TABLE>
Notes and Assumptions: Years above will roll, always showing a 3yr sequential
history. Comments from the most recent NOI Adjustment Worksheet should be
carried forward to Operating Statement Analysis Report. Year-over-year variances
(either higher or lower) must be explained and noted for the following: >10%
DSCR change, >15% EGI/Total Operating Expenses or Total Capital Items.

Income: Comments

Expense: Comments

Capital Items: Comments

* Used in the CMSA Comparative Financial Status Report/CMSA Property File/CMSA
Loan Periodic Update File. Note that information for multiple property loans
must be consolidated (if available) for reporting to the CMSA Loan Periodic
Update file.

                                    Page 50

<PAGE>

                   LODGING OPERATING STATEMENT ANALYSIS REPORT
                                 as of MM/DD/YY

 PROPERTY OVERVIEW
      Prospectus ID
<TABLE>
<CAPTION>

<S>                                                      <C>              <C>           <C>             <C>            <C>

      Current Scheduled Loan Balance/Paid to Date                                              Current Allocated Loan Amount %
      Property Name
      Property Type
      Property Address, City, State
      Net Rentable SF/Units/Pads,Beds                                                     Use second box to specify sqft.,units...
      Year Built/Year Renovated
      Cap Ex Reserve (annually)/per Unit.etc. (1)                                         specify annual/per unit...
      Year of Operations                              Underwriting     MM/DD/YY      MM/DD/YY        MM/DD/YY       MM/DD/YY
      Occupancy Rate (physical)
      Occupancy Date
      Average Daily Rate
      Rev per Av. Room
                       (1) Total $ amount of Capital Reserves required annually by loan documents
</TABLE>
  INCOME:
<TABLE>
<CAPTION>

<S>                                    <C>            <C>          <C>         <C>                <C>       <C>        <C>
      Number of Mos. Covered                                                                               (prcdng yr (prcdng yr to
      Period Ended                                                                                            to base   2nd prcdng)
      Statement Classification (yr)    Underwriting   3rd          2nd         Preceding Yr.      TTM/YTD (2)   YYYY-U/W  YYYY-YYYY
      Room Revenue                       Base Line    Preceding    Preceding   (fm NOI Adj Sheet) as of / /XX   Variance  Variance
      Food & Beverage Revenues
      Telephone Revenue
      Other Departmental Revenue
      Other Income

   *DEPARTMENTAL REVENUE
                        (2) Servicer will not be expected to "Normalize" these YTD/TTM numbers.

  OPERATING EXPENSES:
Departmental
      Room

      Food & Beverage
      Telephone Expenses
      Other Dept. Expenses

DEPARTMENTAL EXPENSES:

DEPARTMENTAL INCOME:

General/Unallocated
      Real Estate Taxes
      Property Insurance
      Utilities
      Repairs and Maintenance
      Franchise Fee
      Management Fees
      Payroll & Benefits
      Advertising & Marketing
      Professional Fees
      General and Administrative
      Other Expenses
      Ground Rent

TOTAL GENERAL/Unallocated

(For CMSA files, Total Expenses = Dept. Exp + General Exp.)
   Operating Expense Ratio
(=Departmental Revenue/(Dept. Exp. + General Exp.))
  *Net Operating Income

      Capital Expenditures
      Extraordinary Capital Expenditures

   Total Capital Items

 *Net Cash Flow

  Debt Service (per Servicer)
 *Net Cash Flow after Debt Service

 *DSCR: (NOI/Debt Service)

 *DSCR: (NCF/Debt Service)

  Source of Financial Data:
       (ie. operating statements, financial statements, tax return, other)
</TABLE>

Notes and Assumptions: Years above will roll, always showing a 3yr sequential
history. Comments from the most recent NOI Adjustment Worksheet should be
carried forward to Operating Statement Analysis Report. Year-over-year variances
(either higher or lower) must be explained and noted for the following: >10%
DSCR change, >15% Dept Revenue, Dept Expenses, General Expenses or Total Capital
Items.

Income: Comments

Expense: Comments

Capital Items: Comments

                                    Page 52

<PAGE>

                 HEALTHCARE OPERATING STATEMENT ANALYSIS REPORT
                                 as of MM/DD/YY

 PROPERTY OVERVIEW
      Prospectus ID
<TABLE>
<CAPTION>

<S>                                                      <C>              <C>           <C>             <C>            <C>

      Current Scheduled Loan Balance/Paid to Date                                                   Current Allocated Loan Amount %
      Property Name
      Property Type
      Property Address, City, State
      Net Rentable SF/Units/Pads,Beds                                                     Use second box to specify sqft.,units...
      Year Built/Year Renovated
      Cap Ex Reserve (annually)/per Unit.etc. (1)                                         specify annual/per unit...
      Year of Operations                                Underwriting     MM/DD/YY      MM/DD/YY        MM/DD/YY      MM/DD/YY
      Occupancy Rate (physical)
      Occupancy Date
      Average Rental Rate

                       (1) Total $ amount of Capital Reserves required annually by loan documents

</TABLE>
  INCOME:
<TABLE>
<CAPTION>

<S>                                    <C>            <C>          <C>         <C>                <C>       <C>        <C>
      Number of Mos. Covered                                                                               (prcdng yr (prcdng yr to
      Period Ended                                                                                            to base   2nd prcdng)
      Statement Classification (yr)    Underwriting   3rd          2nd         Preceding Yr.      TTM/YTD (2)   YYYY-U/W  YYYY-YYYY
      Gross Potential Rent (3)           Base Line    Preceding    Preceding   (fm NOI Adj Sheet) as of / /XX   Variance  Variance
         Less: Vacancy Loss

                          OR

     Private Pay (3)
     Medicare/Medicaid
     Nursing/Medical Income
     Meals Income
     Other Income

   *Effective Gross Income

                        (2) Servicer will not be expected to "Normalize" these TTM/YTD numbers.
                        (3) Use either Gross

Potential (with Vacancy Loss) or Private Pay/Medicare/Medicaid; use negative
$amt for Vacancy Loss

  OPERATING EXPENSES:
      Real Estate Taxes
      Property Insurance
      Utilities
      Repairs and Maintenance
      Management Fees
      Payroll & Benefits
      Advertising & Marketing
      Professional Fees
      General and Administrative
      Room expense - housekeeping
      Meal expense
      Other Expenses
      Ground Rent

  *Total Operating Expenses

   Operating Expense Ratio

  *Net Operating Income

      Capital Expenditures
      Extraordinary Capital Expenditures

   Total Capital Items

 *Net Cash Flow

  Debt Service (per Servicer)
 *Net Cash Flow after Debt Service

 *DSCR: (NOI/Debt Service)

 *DSCR: (NCF/Debt Service)

  Source of Financial Data:
       (ie. operating statements, financial statements, tax return, other)
</TABLE>

Notes and Assumptions: Years above will roll, always showing a 3yr sequential
history. Comments from the most recent NOI Adjustment Worksheet should be
carried forward to Operating Statement Analysis Report. Year-over-year variances
(either higher or lower) must be explained and noted for the following: >10%
DSCR change, >15% EGI/Total Operating Expenses or Total Capital Items.

Income:  Comments

Expense: Comments

Capital Items: Comments

* Used in the CMSA Comparative Financial Status Report/CMSA Property File/CMSA
Loan Periodic Update File. Note that information for multiple property loans
must be consolidated (if available) for reporting to the CMSA Loan Periodic
Update file.

                                    Page 54

<PAGE>

                                   EXHIBIT O
                                    RESERVED

<PAGE>

                                   EXHIBIT P
                        FORM OF NOI ADJUSTMENT WORKSHEET

<PAGE>

                       COMMERCIAL NOI ADJUSTMENT WORKSHEET
      (includes Retail/Office/Industrial/Warehouse/Mixed Use/Self Storage)
                                 AS OF MM/DD/YY
 PROPERTY OVERVIEW

     PROSPECTUS ID
<TABLE>
<CAPTION>
<S>                                                                                   <C>

      Current Scheduled Loan Balance/Paid to Date                                              Current Allocated Loan Amount %
      Property Name
      Property Type
      Property Address, City, State
      Net Rentable SF/Units/Pads,Beds                                                   Use second box to specify sqft.,units...
      Year Built/Year Renovated
      Cap Ex Reserve (annually)/per Unit.etc. (1)                                       specify annual/per unit...
      Year of Operations
      Occupancy Rate (physical)
      Occupancy Date
      Average Rental Rate

                        (1) Total $ amount of Capital Reserves required annually by loan documents, excl. Leasing
                            Commission and TI's
</TABLE>

<TABLE>
<CAPTION>
<S>                                                       <C>                    <C>                     <C>               <C>
  INCOME:                                                   YYYY                                                           NOTES
                                                          BORROWER               ADJUSTMENT              NORMALIZED
      Statement Classification                             ACTUAL
      Gross Potential Rent (2)
         Less: Vacancy Loss

                         OR
      Base Rent (2)
      Expense Reimbursement
      Percentage Rent
      Parking Income
      Other Income

   EFFECTIVE GROSS INCOME

                        (2) Use either Gross Potential (with Vacancy Loss) or Base Rents; use negative $amt for Vacancy Loss

  OPERATING EXPENSES:
      Real Estate Taxes
      Property Insurance
      Utilities
      Repairs and Maintenance
      Janitorial
      Management Fees
      Payroll & Benefits Expense
      Advertising & Marketing
      Professional Fees
      General and Administrative

      Other Expenses                                                                    For self-storage include franchise fees
      Ground Rent

   TOTAL OPERATING EXPENSES

   OPERATING EXPENSE RATIO

   NET OPERATING INCOME

      Leasing Commissions (3)
      Tenant Improvements (3)
      Capital Expenditures
      Extraordinary Capital Expenditures

   TOTAL CAPITAL ITEMS

                       (3) Actual current yr, but normalize for annual if possible via contractual, U/W or other data
   Net Cash Flow

   DEBT SERVICE (PER SERVICER)

   Net Cash Flow after debt service

   DSCR: (NOI/Debt Service)

   DSCR: (NCF/DEBT SERVICE)

   Source of Financial Data:
      (i.e.. operating statements, financial statements, tax return, other)
</TABLE>

NOTES AND ASSUMPTIONS: This report should be completed annually for
"Normalization" of Borrower's numbers. Methodology used is per MBA/CMSA Standard
Methodology unless otherwise noted. The "Normalized" column and corresponding
comments should roll through to the Operating Statement Analysis Report.

Income: Comments

EXPENSE: COMMENTS

Capital Items: Comments

                                    Page 49

<PAGE>

        MULTIFAMILY NOI ADJUSTMENT WORKSHEET (includes Mobile Home Parks)
                                 AS OF MM/DD/YY

 PROPERTY OVERVIEW
<TABLE>
<CAPTION>
<S>                                                                                   <C>
     PROSPECTUS ID

      Current Scheduled Loan Balance/Paid to Date                                          Current Allocated Loan Amount %
      Property Name
      Property Type
      Property Address, City, State
      Net Rentable SF/Units/Pads,Beds                                                       Use second box to specify sqft.,units...
      Year Built/Year Renovated
      Cap Ex Reserve (annually)/per Unit.etc. (1)                                           specify annual/per unit...
      Year of Operations
      Occupancy Rate (physical)
      Occupancy Date
      Average Rental Rate

                        (1) Total $ amount of Capital Reserves required annually by loan documents.

</TABLE>

<TABLE>
<CAPTION>
<S>                                                       <C>                    <C>                     <C>               <C>
  INCOME:                                                   YYYY                                                           NOTES
                                                          BORROWER               ADJUSTMENT              NORMALIZED
      Statement Classification                             ACTUAL
      Gross Potential Rent (2)                                                                                  Include Pad/RV rent
         Less: Vacancy Loss

                         OR
      Base Rent (2)
      Laundry/Vending Income
      Parking Income

      Other Income                                                              Include forfeited security/late fees/pet

   EFFECTIVE GROSS INCOME

                       (2) Use either Gross Potential (with Vacancy Loss) or Base Rents; use negative $ amt for Vacancy Loss

  OPERATING EXPENSES:
      Real Estate Taxes
      Property Insurance
      Utilities
      Repairs and Maintenance
      Management Fees
      Payroll & Benefits Expense
      Advertising & Marketing
      Professional Fees
      General and Administrative
      Other Expenses
      Ground Rent
   TOTAL OPERATING EXPENSES

   OPERATING EXPENSE RATIO

   NET OPERATING INCOME

      Capital Expenditures
      Extraordinary Capital Expenditures

   TOTAL CAPITAL ITEMS

   NET CASH FLOW

   DEBT SERVICE (PER SERVICER)
   NET CASH FLOW AFTER DEBT SERVICE

   DSCR: (NOI/DEBT SERVICE)

   DSCR: (NCF/DEBT SERVICE)

   SOURCE OF FINANCIAL DATA:

      (i.e.. operating statements, financial statements, tax return, other)
</TABLE>

NOTES AND ASSUMPTIONS: This report should be completed annually for
"Normalization" of Borrower's numbers. Methodology used is per MBA/CMSA Standard
Methodology unless otherwise noted. The "Normalized" column and corresponding
comments should roll through to the Operating Statement Analysis Report

INCOME: COMMENTS

EXPENSE: COMMENTS

CAPITAL ITEMS: COMMENTS

                                    Page 51

<PAGE>

                        LODGING NOI ADJUSTMENT WORKSHEET
                                 AS OF MM/DD/YY

 PROPERTY OVERVIEW

     PROSPECTUS ID
<TABLE>
<CAPTION>
<S>                                                                                   <C>

      Current Scheduled Loan Balance/Paid to Date                                                   Current Allocated Loan Amount %
      Property Name
      Property Type
      Property Address, City, State
      Net Rentable SF/Units/Pads,Beds                                                    Use second box to specify sqft.,units...
      Year Built/Year Renovated
      Cap Ex Reserve (annually)/per Unit.etc. (1)                                        specify annual/per unit...
      Year of Operations
      Occupancy Rate (physical)
      Occupancy Date
      Average Daily Rate
      Rev per Av. Room
                        (1) Total $ amount of Capital Reserves required annually by loan documents.

</TABLE>

<TABLE>
<CAPTION>
<S>                                                       <C>                    <C>                     <C>               <C>
  INCOME:                                                   YYYY                                                           NOTES
                                                          BORROWER               ADJUSTMENT              NORMALIZED
      Statement Classification                             ACTUAL
      Room Revenue
      Food & Beverage Revenues
      Telephone Revenue
      Other Departmental Revenue
      Other Income

  DEPARTMENTAL REVENUE: (2)

                        (2) Report Departmental Revenue as EGI for CMSA Loan Periodic and Property files

  OPERATING EXPENSES:

DEPARTMENTAL

      Room
      Food & Beverage
      Telephone Expenses
      Other Dept. Expenses

DEPARTMENTAL EXPENSES:

DEPARTMENTAL INCOME:

GENERAL/UNALLOCATED
      Real Estate Taxes
      Property Insurance
      Utilities
      Repairs and Maintenance
      Franchise Fee
      Management Fees
      Payroll & Benefits
      Advertising & Marketing
      Professional Fees
      General and Administrative
      Other Expenses
      Ground Rent

TOTAL GENERAL/UNALLOCATED

(For CMSA files, Total Expenses = Dept. Exp + General Exp.)
   OPERATING EXPENSE RATIO

(=Departmental Revenue/(Dept. Exp. + General Exp.))
   NET OPERATING INCOME

      Capital Expenditures
      Extraordinary Capital Expenditures

   TOTAL CAPITAL ITEMS

   NET CASH FLOW

   DEBT SERVICE (PER SERVICER)
   NET CASH FLOW AFTER DEBT SERVICE

   DSCR: (NOI/DEBT SERVICE)

   DSCR: (NCF/DEBT SERVICE)

   SOURCE OF FINANCIAL DATA:

      (i.e.. operating statements, financial statements, tax return, other)
</TABLE>
NOTES AND ASSUMPTIONS: This report should be completed annually for
"Normalization" of Borrower's numbers. Methodology used is per MBA/CMSA Standard
Methodology unless otherwise noted. The "Normalized" column and corresponding
comments should roll through to the Operating Statement Analysis Report.

INCOME: COMMENTS

EXPENSE: COMMENTS

CAPITAL ITEMS: COMMENTS

                                    Page 53

<PAGE>

                       HEALTHCARE NOI ADJUSTMENT WORKSHEET
                                 AS OF MM/DD/YY

 PROPERTY OVERVIEW

     PROSPECTUS ID
<TABLE>
<CAPTION>
<S>                                                                                   <C>

      Current Scheduled Loan Balance/Paid to Date                                               Current Allocated Loan Amount %
      Property Name
      Property Type
      Property Address, City, State
      Net Rentable SF/Units/Pads,Beds                                                  Use second box to specify sqft.,units...
      Year Built/Year Renovated
      Cap Ex Reserve (annually)/per Unit.etc. (1)                                      specify annual/per unit...
      Year of Operations
      Occupancy Rate (physical)
      Occupancy Date
      Average Rental Rate

                        (1) Total $ amount of Capital Reserves required annually by loan documents.

</TABLE>

<TABLE>
<CAPTION>
<S>                                                       <C>                    <C>                     <C>               <C>
  INCOME:                                                   YYYY                                                           NOTES
                                                          BORROWER               ADJUSTMENT              NORMALIZED
      Statement Classification                             ACTUAL
      Gross Potential Rent (2)
         Less: Vacancy Loss

                         OR
     Private Pay (2)
     Medicare/Medicaid
     Nursing/Medical Income
     Meals Income
     Other Income

   EFFECTIVE GROSS INCOME

                                                      (2) Use either Gross
Potential (with Vacancy Loss) or Private Pay/Medicare/Medicaid; use negative
$amt for Vacancy Loss

  OPERATING EXPENSES:
      Real Estate Taxes
      Property Insurance
      Utilities
      Repairs and Maintenance
      Management Fees
      Payroll & Benefits
      Advertising & Marketing
      Professional Fees
      General and Administrative
      Room expense - housekeeping
      Meal expense
      Other Expenses
      Ground Rent

   TOTAL OPERATING EXPENSES

   OPERATING EXPENSE RATIO

   NET OPERATING INCOME

      Capital Expenditures
      Extraordinary Capital Expenditures

   TOTAL CAPITAL ITEMS

   Net Cash Flow

   DEBT SERVICE (PER SERVICER)

   Net Cash Flow after debt service

   DSCR: (NOI/Debt Service)

   DSCR: (NCF/DEBT SERVICE)

   Source of Financial Data:
      (i.e.. operating statements, financial statements, tax return, other)
</TABLE>
NOTES AND ASSUMPTIONS: This report should be completed annually for
"Normalization" of Borrower's numbers. Methodology used is per MBA/CMSA Standard
Methodology unless otherwise noted. The "Normalized" column and corresponding
comments should roll through to the Operating Statement Analysis Report.

Income:  Comments

EXPENSE: COMMENTS

Capital Items: Comments

                                    Page 55

<PAGE>

                                   EXHIBIT Q

                                    RESERVED

<PAGE>

                                   EXHIBIT R

                                    RESERVED

<PAGE>

                                   EXHIBIT S-1

                  FORM OF POWER OF ATTORNEY FOR MASTER SERVICER

RECORDING REQUESTED BY:
ORIX CAPITAL MARKETS, LLC

AND WHEN RECORDED MAIL TO:

ORIX CAPITAL MARKETS, LLC
1717 Main Street
Dallas, Texas 75201

Attention:  Commercial Mortgage Pass-Through
            Certificates, Series 2002-IQ2

                          Space above this line for Recorder's use
--------------------------------------------------------------------------------

                            LIMITED POWER OF ATTORNEY

                                    (SPECIAL)

            KNOW ALL MEN BY THESE PRESENTS, that LASALLE BANK NATIONAL
ASSOCIATION, as trustee for Morgan Stanley Dean Witter Capital I Inc.,
Commercial Mortgage Pass-Through Certificates, Series 2002-IQ2 ("Trustee"),
under that certain Pooling and Servicing Agreement dated as of June 1, 2002 (the
"Pooling and Servicing Agreement"), does hereby nominate, constitute and appoint
ORIX CAPITAL MARKETS, LLC, as Master Servicer under the Pooling and Servicing
Agreement ("ORIX"), as its true and lawful attorney-in-fact for it and in its
name, place, stead and for its use and benefit:

            To perform any and all acts which may be necessary or appropriate to
enable ORIX to service and administer the Mortgage Loans (as defined in the
Pooling and Servicing Agreement) in connection with the performance by ORIX of
its duties as Master Servicer under the Pooling and Servicing Agreement, giving
and granting unto ORIX full power and authority to do and perform any and every
act necessary, requisite, or proper in connection with the foregoing and hereby
ratifying, approving or confirming all that ORIX shall lawfully do or cause to
be done by virtue hereof.

            The Master Servicer shall not without the Trustee's written consent:
(i) initiate any action, suit or proceeding solely under the Trustee's name
without indicating the Master Servicer's representative capacity or (ii) take
any action with the intent to, and which actually does cause, the Trustee to be
registered to do business in any state; provided, however, that the preceding
clause (i) shall not apply to the initiation of actions relating to a Mortgage
Loan, which the Master Servicer is servicing pursuant to its respective duties
herein (in which case the Master Servicer shall give prior notice to the Trustee
of the initiation of such action).

            IN WITNESS WHEREOF, the undersigned has caused this limited power of
attorney to be executed as of this ___ day of __________, 2002.

                            LASALLE BANK NATIONAL ASSOCIATION, as trustee for
                            Morgan Stanley Dean Witter Capital I Inc.,
                            Commercial Mortgage Pass-Through Certificates,
                            Series 2002-IQ2

                            By:
                                -----------------------------------
                            Name:
                                 ----------------------------------
                            Title:
                                   --------------------------------

<PAGE>

                           ALL-PURPOSE ACKNOWLEDGEMENT

                        )
                        )
                        )

      On ________________ before me, __________________________________________
            Date                     Name and Title of Officer (i.e., Your
                                     Name, Notary Public)

personally appeared____________________________________________________________
                                 Name(s) of Document Signer(s)

--------------------------------------------------------------------------------
personally known to me (or proved to me on the basis of satisfactory evidence)
to be the person(s) whose name(s) is/are subscribed to the within instrument and
acknowledged to me that he/she/they executed the same in his/her/their
authorized capacity(ies), and that by his/her/their signature(s) on the
instrument the person(s), or the entity upon behalf of which the person(s)
acted, executed the instrument.

      WITNESS my hand and official seal.

      __________________________________
      Signature of Notary

                                      (Affix seal in the above blank space)

<PAGE>

                                   EXHIBIT S-2

                 FORM OF POWER OF ATTORNEY FOR SPECIAL SERVICER

RECORDING REQUESTED BY:
LEND LEASE ASSET MANAGEMENT, L.P.

AND WHEN RECORDED MAIL TO:

LEND LEASE ASSET MANAGEMENT, L.P.
700 North Pearl Street, Suite 2400
Dallas, Texas 75201
Attention:  Commercial Mortgage Pass-Through
            Certificates, Series 2002-IQ2

                    Space above this line for Recorder's use
--------------------------------------------------------------------------------

                            LIMITED POWER OF ATTORNEY

                                    (SPECIAL)

            KNOW ALL MEN BY THESE PRESENTS, that LASALLE BANK NATIONAL
ASSOCIATION, as trustee for Morgan Stanley Dean Witter Capital I Inc.,
Commercial Mortgage Pass-Through Certificates, Series 2002-IQ2 ("Trustee"),
under that certain Pooling and Servicing Agreement dated as of June 1, 2002 (the
"Pooling and Servicing Agreement"), does hereby nominate, constitute and appoint
LEND LEASE ASSET MANAGEMENT, L.P., as Special Servicer under the Pooling and
Servicing Agreement ("Lend Lease"), as its true and lawful attorney-in-fact for
it and in its name, place, stead and for its use and benefit:

            To perform any and all acts which may be necessary or appropriate to
enable Lend Lease to service and administer the Mortgage Loans (as defined in
the Pooling and Servicing Agreement) in connection with the performance by Lend
Lease of its duties as Special Servicer under the Pooling and Servicing
Agreement, giving and granting unto Lend Lease full power and authority to do
and perform any and every act necessary, requisite, or proper in connection with
the foregoing and hereby ratifying, approving or confirming all that Lend Lease
shall lawfully do or cause to be done by virtue hereof.

            Notwithstanding anything contained herein to the contrary, the
Special Servicer shall not without the Trustee's written consent: (i) initiate
any action, suit or proceeding solely under the Trustee's name without
indicating the Special Servicer's representative capacity, or (ii) take any
action with the intent to, and which actually does cause, the Trustee to be
registered to do business in any state; provided, however, that the preceding
clause (i) shall not apply to the initiation of actions relating to a Mortgage
Loan, which the Special Servicer is servicing pursuant to its respective duties
herein (in which case the Special Servicer shall give prior notice to the
Trustee of the initiation of such action).

<PAGE>

            IN WITNESS WHEREOF, the undersigned has caused this limited power of
attorney to be executed as of this ___ day of __________, 2002.

                             LASALLE BANK NATIONAL ASSOCIATION, as trustee for
                             Morgan Stanley Dean Witter Capital I Inc.,
                             Commercial Mortgage Pass-Through Certificates,
                             Series 2002-IQ2

                             By:
                                 -----------------------------------
                             Name:
                                  ----------------------------------
                             Title:
                                    --------------------------------

<PAGE>

                           ALL-PURPOSE ACKNOWLEDGEMENT

                        )
                        )
                        )

      On ________________ before me, __________________________________________
            Date                     Name and Title of Officer (i.e., Your
                                     Name, Notary Public)

personally appeared____________________________________________________________
                                 Name(s) of Document Signer(s)

--------------------------------------------------------------------------------
personally known to me (or proved to me on the basis of satisfactory evidence)
to be the person(s) whose name(s) is/are subscribed to the within instrument and
acknowledged to me that he/she/they executed the same in his/her/their
authorized capacity(ies), and that by his/her/their signature(s) on the
instrument the person(s), or the entity upon behalf of which the person(s)
acted, executed the instrument.

      WITNESS my hand and official seal.

      __________________________________
      Signature of Notary

                                      (Affix seal in the above blank space)

<PAGE>

                                    EXHIBIT T

                FORM OF DEBT SERVICE COVERAGE RATIO PROCEDURES

            "Debt Service Coverage Ratios" generally means the ratio of
"Underwritable Cash Flow" estimated to be produced by the related Mortgaged
Property to the annualized amount of debt service payable under that Mortgage
Loan. "Underwritable Cash Flow" in each case is an estimate of stabilized cash
flow available for debt service. In general, it is the estimated stabilized
revenue derived from the use and operation of a Mortgaged Property (consisting
primarily of rental income) less the sum of (a) estimated stabilized operating
expenses (such as utilities, administrative expenses, repairs and maintenance,
management fees and advertising), (b) fixed expenses (such as insurance, real
estate taxes and, if applicable, ground lease payments) and (c) capital
expenditures and reserves for capital expenditures, including tenant improvement
costs and leasing commissions. Underwritable Cash Flow generally does not
reflect interest expenses and non-cash items such as depreciation and
amortization. In determining Underwritable Cash Flow for a Mortgaged Property,
the Master Servicer may rely on rent rolls and other generally unaudited
financial information provided by the respective borrowers and may estimate cash
flow taking into account historical financial statements, material changes in
the operating position of the Mortgaged Property, and estimated capital
expenditures, leasing commissions and tenant improvement reserves. The Master
Servicer may make certain changes to operating statements and operating
information obtained from the respective borrowers.

<PAGE>

                                    EXHIBIT U

        FORM OF ASSIGNMENT AND ASSUMPTION SUBMISSION TO SPECIAL SERVICER

PRESENT MORTGAGOR:

PROPOSED MORTGAGOR:

MASTER SERVICER #:

PRIMARY SERVICER #:

SPECIAL SERVICER #:

COLLATERAL TYPE:                    (Retail, Industrial, Apartments, Office,
etc.)

ADDRESS:                            PROPERTY ADDRESS

                                    CITY, STATE, ZIP CODE

ASSET STATUS:                       As of (date)

      Principal Balance:            $
      Unpaid Accrued Interest:      $
      Unpaid Late Fees/other fees:  $
      Tax Escrow Balance:           $
                 (a)    Insurance Escrow Balance:           $

      Reserve Escrow Balance:       $
      Monthly (P&I) Payment:        $
      Interest Rate:                %
      Date Principal Paid To:
      Date Interest Paid To:
      Maturity Date:
      Origination Date:

EXECUTIVE SUMMARY:

1.    Summarize the transaction

            a.    note any significant modification of terms of the Loan
                  Documents permitting assumption that could result in
                  Adverse REMIC Event
2.    Discuss proposed Mortgagor entity and ownership structure
            a.    include any changes in level of SAE or SPE compliance from
                  existing Mortgagor (as noted on Asset Summary attached)
3.    How will title be held
4.    Source of cash for down payment
5.    Briefly describe collateral
            a.    Size, occupancy, primary tenants, location
            b.    Prior year NOI and DSCR and Pro forma NOI DSCR
6.    Complete the chart below:

The sale terms and property characteristics are summarized as follows:

        Purchase price                           $
        Buyer down payment                       $
        Estimated closing date
        1% loan fee slit:  Primary               % - $
              Master Servicer                    % - $
              Lend Lease Asset Management, L.P.  50% - $
              Special Servicer
        Most recent appraised value according    $
        to appraisal in Master/Primary
        Servicer's possession
        Load-to-value as if initial underwriting %
        Occupancy as of                          %
        12/31/__ NOI                             $
        Debt service coverage as of              x

FINANCIAL CONDITION OF PROPOSED MORTGAGOR/GUARANTOR:

1.    Explain background and experience of the proposed Mortgagor/principals;
      describe any deficiencies in Mortgagor's ability to meet creditworthiness
      and experience requirements of Loan Documents and compare creditworthiness
      and experience of proposed Mortgagor to that of transferring Mortgagor to
      the extent information about transferring Mortgagor is available.

2.    State date of the financial statement, who prepared, if CPA, state the
      opinion rendered, how assets are valued
3.    Highlight Balance sheet and Income statement
      a.    Describe significant assets (e.g. obtain from proposed Mortgagor
            and Guarantor (as applicable) information about how it values its
            assets)
      b.    Related debt

4.    For public companies that have historical financial information:
      a.    Spread Balance Sheet for minimum of two (2) years (request three
            (3) years, if available)
      b.    Spread and commonsize Income statement for minimum of two (2)
            years (request three (3) years, if available);
5.    Explain results of credit checks, legal searches and banking credit
      references (two required)
6.    If Rating Agency Confirmation is permitted under applicable Loan
      Documents, note if such Confirmation will be sought
7.    Describe whether assigning Mortgagor and/or Guarantors will be released
      from its obligations under the Loan Documents [from and after the date of
      the transfer]. If so, describe extent of release and rationale for it.

PROJECT STATUS & DESCRIPTION: (See attached Asset Summary, most recent
Inspection Report and most recent rent roll)
1.    Describe any current, material issues regarding the operating status of
the property: (e.g. issues surrounding current occupancy, anchor tenants,
tenant rollover)
PROPERTY FINANCIAL SUMMARY: (See attached Income and Expense Statements for
Mortgaged Property and year to date operating statements)

NEW ENVIRONMENTAL AND ENGINEERING DEVELOPMENTS (IF ANY) AND STATUS OF ISSUES
IDENTIFIED IN ORIGINAL REPORTS OR LOAN DOCUMENTS AS NEEDING REMEDIATION: (See
attached Asset Summary)

1.    Describe any material issues requiring remediation contained in
original reports
2.    Describe current status of issue and remediation

ESCROW STATUS:

1.    Explain status of all reserves

PROPERTY MANAGEMENT SUMMARY:

1.    Who is proposed property management firm
2.    Background and Experience

COLLATERAL VALUATION:

1.    Discuss the original appraisal
      A.    Who prepared

      B.    Attach Executive Summary and discussion of approach to value
            given most weight from most recent appraisal in Master/Primary
            Servicer's possession
2.    Comparison of the following (original to actual property):
      A.    Vacancy
      B.    Rents
      C.    Taxes
      D.    Other Key Expenses

CURRENT MARKET CONDITIONS:

      Briefly state material current real estate market dynamics and economic
influences that may affect the operational performance of the property.

RECOMMENDATION:

1.    State recommendation for approval.
2.    Highlight strengths and weaknesses. How are weaknesses mitigated?
      (bullet points are fine)

<PAGE>

REQUEST FOR SPECIAL SERVICER CONSENT:

Master/Primary Servicer hereby recommends and requests consent of Special
Servicer to the foregoing Assignment and Assumption.

By:
   ---------------------------------

Title:
      ------------------------------

Date:
     -------------------------------

Consent to Assignment & Assumption is given:
LEND LEASE ASSET MANAGEMENT, L.P.,
acting solely in its capacity as Special Servicer

By:   Pearl Mortgage, Inc.
Its:  Sole General Partner

By:
   ---------------------------------
Name:
     -------------------------------
Title:
      ------------------------------

Date:
     -------------------------------

<PAGE>

                SCHEDULE OF EXHIBITS TO ASSUMPTION SUBMISSION

1.    Financial statements of purchasing entity and any guarantors (audited,
      if available)
2.    Financial statement of selling entity only if available
3.    Bank and /or credit references for transferee
4.    Credit report for principal(s) of the proposed borrowing entity.
5.    Most recent Income & Expense Statement for Mortgaged Property and
      operating statement review
6.    Income & Expense Statement for Mortgaged Property for previous two (2)
      years to the extent available
7.    Most recent Property Inspection report
8.    Original Asset Summary for Mortgaged Property
9.    Purchase and Sale Agreement
10.   If available from Mortgagor, diagram of proposed ownership structure,
      including percentages of ownership
11.   Proposed property management agreement
12.   Description and source of equity being used for the purchase, if
      available
13.   Most recent Rent Roll

14.   Copy of Promissory Note, Mortgage and any Loan Agreement
15.   Other items as required by the description set forth above

<PAGE>

                                    EXHIBIT V

      FORM OF ADDITIONAL LIEN, MONETARY ENCUMBRANCE OR MEZZANINE FINANCING
                         SUBMISSION TO SPECIAL SERVICER

Mortgagor:

Master Servicer Loan #:

Primary Servicer Loan #:

Collateral Type:        (Retail, Industrial, Apartments, Office, etc.)

Address of Property:

ASSET STATUS AS OF                  (date):
   Principal Balance:               $
   Unpaid Accrued Interest:         $
   Unpaid Late Fees/other fees:     $
   Tax Escrow Balance:              $
   Insurance Escrow Balance:        $
   Monthly P&I Payment:             $
   Interest Rate:                   %
   Date Principal Paid To:
   Date Interest Paid To:
   Origination Date:
   Maturity Date:

EXECUTIVE SUMMARY:

1.    Summarize the transaction

      a.    note deviations from requirements for subordinate/mezzanine
            financing contained in Loan Documents

      b.    if Rating Agency Confirmation is permitted under applicable Loan
            Documents, note if such Confirmation will be sought

2.    State amount and purpose of Lien/Financing.  Need an analysis of the
      impact (physical) on the property and the resulting financial impact on
      operations & DSCR of combined financing.

3.    Interest Rate

4.    Amount of Monthly/Periodic Payment (identify if P&I or Interest only)

5.    Identify Subordinate/Mezzanine Lender
      a.    provide any information furnished by Mortgagor regarding proposed
            lender

6.    Collateral pledged or mortgaged as security:

7.    Briefly describe collateral

      a.    Size, occupancy, primary tenants, location
      b.    NOI and DSCR for prior year and, if available, prior two years
            and Pro-forma NOI DSCR

8.    Complete the chart below:

The transaction terms and property characteristics are summarized as follows:

            Estimated closing date for financing:
            Administrative fee to Primary Servicer     $
            Additional Fees, if any                    $
            (50%: Special Servicer; %: Master
            Servicer; %: Primary Servicer
            Most recent appraised value according to   $
            appraisal in Master/Primary Servicer's
            possession
            Loan-to-value as of initial underwriting   %
            Occupancy as of                            %
            12/31 /_ NOI                               $
            Debt service coverage as of                x

PROJECT STATUS & DESCRIPTION:  (See attached Asset Summary, most recent
Inspection Report and most recent rent roll)
1.    Describe any current, material issues regarding the operating status of
the property: (e.g. issues surrounding current occupancy, anchor tenants,
tenant rollover)

Property Financial Summary:  (See attached most recent Income and Expense
Statement for Mortgaged Property and operating statement review)

ESCROW STATUS:
1.    Explain status of all Reserves

COLLATERAL VALUATION:
1.    Discuss the original appraisal
      A.    Who prepared
      B.    Attach Executive Summary and discussion of approach to value
            given most weight from most recent appraisal in Master/Primary
            Servicer's possession
2.    Comparison of the following (original to actual property):
      A.    Vacancy
      B.    Rents
      C.    Taxes
      D.    Other Key Expenses

CURRENT MARKET CONDITIONS:

      Briefly state material current real estate market dynamics and economic
influences that may affect the operational performance of the property.

RECOMMENDATION:

1.    State recommendation for approval.

2.    Highlight strengths and weaknesses. How are weaknesses mitigated?
      (bullet points are fine)

<PAGE>

REQUEST FOR SPECIAL SERVICER CONSENT:

Master/Primary Servicer hereby recommends and requests consent of Special
Servicer to the foregoing [Subordinate/Mezzanine] Financing.

By:
        ----------------------------
Title:
        ----------------------------
Date:
        ----------------------------

Consent to Additional Lien, Monetary Encumbrance
or Mezzanine Financing as described above is given:
LEND LEASE ASSET MANAGEMENT, L.P,
acting solely in its capacity as Special Servicer

By:   Pearl Mortgage, Inc.
Its:  Sole General Partner

By:
        ----------------------------
Name:
        ----------------------------
Title:
        ----------------------------
Date:
        ----------------------------

<PAGE>

   SCHEDULE OF EXHIBITS TO ADDITIONAL LIEN, MONETARY ENCUMBRANCE OR MEZZANINE
                              FINANCING SUBMISSION

1.    Most recent Income & Expense Statement for property and operating
      statement review
2.    Original Asset Summary for Mortgaged Property
3.    [FOR MEZZANINE FINANCING:  If available from Mortgagor, diagram of
      proposed ownership structure, including percentages of ownership]
4.    [FOR SUBORDINATE MORTGAGE:  Copy of Subordination/Intercreditor
      Agreement in substantially the form to be executed with subordinate
      lender]
5.    Copy of Note, Mortgage and any Loan Agreement
6.    Copy of subordinate loan documents in substantially the form to be
      executed
7.    Most recent Rent Roll.
8.    Other items as required by the description set forth above

<PAGE>

                                   EXHIBIT W
                          RESTRICTED SERVICER REPORTS

<PAGE>

                        CMSA INVESTOR REPORTING PACKAGE
                              SERVICER WATCH LIST
                         AS OF ________________________
                              (LOAN LEVEL REPORT)

           Operating Information Reflected As NOI______ or NCF________

<TABLE>
<CAPTION>
S4          S55        S61       S57     S58     L7         L8     L11       L56/L93       L70/L97
<S>         <C>        <C>       <C>     <C>     <C>        <C>   <C>        <C>          <C>                <C>
Prospectus  Property   Property  City    State   Ending     Paid  Maturity   Preceding    Most Recent DSCR   Comment / Action to be
Loan IC     Name       Type                      Scheduled  Thru  Date       Fiscal YR     DSCR NOI/NCF      taken
                                                 Loan       Date             DSCR NOI/
                                                 Balance                     NCF
</TABLE>
List all loans on watch list in descending balance order. Comment section should
include reason and other pertinent information. Should not include loans that
are specially serviced.

WATCH LIST SELECTION CRITERIA SHOULD BE FOOTNOTED ON THE REPORT. THE CRITERIA
MAY BE DICTATED AS PER THE PSA OR THE SERVICER'S INTERNAL POLICY.

Total:                                                                        $

<PAGE>

                        CMSA INVESTOR REPORTING PACKAGE
                         DELINQUENT LOAN STATUS REPORT
                             AS OF ________________
                              (LOAN LEVEL REPORT)

<TABLE>
<CAPTION>
Operating Information Reflected As NOI   or NCF

      S4             S55          S61     S57   S58   S62 or S63   L8        L7           L37           L39           L38
                                                                         (a)          (b)          (c)            (d)

                                                                  PAID     ENDING      TOTAL P&I   OTHER EXPENSE   TOTAL T&I
                               PROPERTY               SQ FT OR    THRU    SCHEDULED     ADVANCES      ADVANCE      ADVANCES
PROSPECTUS ID   PROPERTY NAME    TYPE    CITY  STATE    UNITS     DATE  LOAN BALANCE  OUTSTANDING   OUTSTANDING   OUTSTANDING
------------------------------------------------------------------------------------------------------------------------------------
<S>               <C>            <C>     <C>    <C>    <C>        <C>      <C>           <C>           <C>           <C>
LOANS IN FORECLOSURE AND NOT REO

90 + DAYS DELINQUENT

60 TO 89 DAYS DELINQUENT

30 TO 59 DAYS DELINQUENT

CURENT AND AT SPECIAL SERVICER

------------------------------------------------------------------------------------------------------------------------------------

<CAPTION>
                                                                L54 or      L56 or
                                                              L68/L92 or  L70/L93 or
                 L25          L10      L11       L58 or L73      L96         L97            L74             L75
(e)=a+b+c+d                                                                                                 (f)

                                                                                                         APPRAISAL
                            CURRENT                                                                       BPO OR
    TOTAL      CURRENT     INTEREST  MATURITY   LTM NOI/NCF      LTM       LTM DSCR                      INTERNAL
  EXPOSURE   MONTHLY P&I     RATE      DATE         DATE       NOI/NCF     (NOI/NCF)   VALUATION DATE     VALUE**
--------------------------------------------------------------------------------------------------------------------------
<S>              <C>          <C>     <C>          <C>          <C>          <C>           <C>             <C>
LOANS IN FORECLOSURE AND NOT REO

90 + DAYS DELINQUENT

60 TO 89 DAYS DELINQUENT

30 TO 59 DAYS DELINQUENT

CURENT AND AT SPECIAL SERVICER

--------------------------------------------------------------------------------------------------------------------------

<CAPTION>
                     L99           L77          L79            L76
(.90*f)-e

                                             DATE ASSET
                                            EXPECTED TO
 LOSS USING    TOTAL APPRAISAL              BE RESOLVED
90% APPR. OR      REDUCTION     TRANSFER        OR          WORKOUT
   BPO(F)         REALIZED        DATE      FORECLOSED     STRATEGY*       COMMENTS
----------------------------------------------------------------------------------------------
<S>               <C>            <C>            <C>          <C>              <C>
LOANS IN FORECLOSURE AND NOT REO

90 + DAYS DELINQUENT

60 TO 89 DAYS DELINQUENT

30 TO 59 DAYS DELINQUENT

CURENT AND AT SPECIAL SERVICER

FCL = Foreclosure
LTM = Latest 12 Months Either Last Normalized Annual, Normalized Ytd or Trailing
12 months, if available.

-----------------------------------------------------------------------------------------------
</TABLE>

*Workout Strategy should match the CMSA Loan Periodic Update File using
abbreviated words in place of a code number such as (FCL - In Foreclosure, MOD -
Modification, DPO - Discount Payoff, NS - Note Sale, BK - Bankruptcy, PP -
Payment Plan, TBD - To be determined etc...). It is possible to combine the
status codes if the loan is going in more than one direction (i.e. FCL/Mod,
BK/Mod, BK/FCL/DPO).
**BPO - Broker opinion

                                    Page 37

<PAGE>

                        CMSA INVESTOR REPORTING PACKAGE
                               REO STATUS REPORT
                            AS OF __________________
                            (PROPERTY LEVEL REPORT)

<TABLE>
<CAPTION>
Operating Information Reflected As NOI        or NCF

                                               P16
                                               or
   P4        P7        P13      P9     P10     P17      L8        P21          L37           L39           L38
                                                              (a)          (b)          (c)            (d)            (e)=a+b+c+d

                                                               ALLOCATED
                                                                 ENDING                     OTHER
                                              SQ FT    PAID    SCHEDULED    TOTAL P&I      EXPENSE      TOTAL T & I
PROPERTY  PROPERTY  PROPERTY                   OR      THRU      LOAN        ADVANCES      ADVANCE        ADVANCE        TOTAL
   ID       NAME      TYPE     CITY   STATE   UNITS    DATE      AMOUNT    OUTSTANDING   OUTSTANDING    OUTSTANDING    EXPOSURE
------------------------------------------------------------------------------------------------------------------------------------
<S>         <C>       <C>       <C>    <C>    <C>     <C>        <C>           <C>          <C>            <C>            <C>

<CAPTION>
                                    P58 or
                                  P72/P79 or
   L25       L11     L53 or P74      P83         P24                     P25                       L99          L77
                                  (f)                                 (g)       (h)=(.90*g)-e

                                                          APPRAISAL
                                                           BPO OR
                                                          INTERNAL    APPRAISAL                    TOTAL
CURRENT                 LTM                                 VALUE      BPO OR     LOSS USING     APPRAISAL
MONTHLY   MATURITY    NOI/NCF     LTM DSCR    VALUATION    SOURCE     INTERNAL   90% APPR. OR    REDUCTION    TRANSFER
  P&I       DATE        DATE      (NOI/NCF)      DATE        (1)        VALUE        BPO(F)      REALIZED       DATE
---------------------------------------------------------------------------------------------------------------------------------
<S>         <C>       <C>           <C>         <C>         <C>         <C>         <C>            <C>          <C>

</TABLE>

    P28             P26

                   DATE
                  ASSET
    REO          EXPECTED
ACQUISITION       TO BE
    DATE         RESOLVED       COMMENTS
--------------------------------------------------------

REO's data reflected at the property level for relationships  with more than one
(1) property should use the Allocated Ending Scheduled Loan Amount,  and prorate
all advances and expenses or other loan level data as appropriate.

(1) Use the following codes; App. - Appraisal, BPO - Brokers Opinion, Int -
Internal Value.

                                    Page 38

<PAGE>
                        CMSA INVESTOR REPORTING PACKAGE
                      COMPARATIVE FINANCIAL STATUS REPORT
                               AS OF ___________
                            (PROPERTY LEVEL REPORT)

<TABLE>
<CAPTION>
Operating Information Reflected As NOI____ or NCF______
            P4                 P9          P10             P52                         P21                     L8

<S>                           <C>         <C>        <C>                           <C>                        <C>

       PROPERTY ID            CITY        STATE      LAST PROPERTY                 CURRENT ALLOCATED          PAID THRU
                                                     INSPECTION DATE               LOAN AMOUNT                DATE
                                                     YYYYMMDD
Total:                                                                             $

</TABLE>
[TABLE CONTINUED]

<TABLE>
<CAPTION>
Operating Information Reflected As NOI____ or NCF______
            P4                   P57                       P44                      P51                     P45
                                                                                              ORIGINAL UNDERWRITING
                                                                                                    INFORMATION
<S>                            <C>                    <C>                           <C>               <C>
                                                       BASE YEAR

Total:                                                                             $

</TABLE>
[TABLE CONTINUED]

<TABLE>
<CAPTION>
Operating Information Reflected As NOI____ or NCF______
            P4                      P47 OR P76                           P48 OR P77                          P60

<S>                                <C>                                    <C>                   <C>
                                                                                                         AS OF _______
       PROPERTY ID                     $                                  (1)                   FINANCIAL INFO AS OF DATE
                                    NOI/NCF                               DSCR
                                                                                                         YYYYMMDD

Total:                                                                      $

</TABLE>
[TABLE CONTINUED]

<TABLE>
<CAPTION>
Operating Information Reflected As NOI____ or NCF______
            P4                  P66               P61                    P63 OR P80                       P65 OR P81
                                 2ND PRECEDING ANNUAL OPERATING
                                                 INFORMATION
<S>                          <C>           <C>                          <C>                                <C>
                                                                        NORMALIZED
       PROPERTY ID             %           TOTAL REVENUE                    $                               (1)
                              OCC                                        NOI/NCF                            DSCR

Total:                                                                             $

</TABLE>
[TABLE CONTINUED]

<TABLE>
<CAPTION>
Operating Information Reflected As NOI____ or NCF______
            P4                      P53                  P59                 P54                     P56 OR P78        P58 OR P79
                                             PRECEDING  ANNUAL OPERATING
                                                    INFORMATION
<S>                    <C>                             <C>            <C>                            <C>                 <C>
                                  AS OF _______                                                      NORMALIZED
       PROPERTY ID     FINANCIAL INFO AS OF DATE        %             TOTAL REVENUE                    $                 (1)
                                                        OCC                                          NOI/NCF             DSCR
                                                                                                      YYYYMMDD

Total:                                                                             $

</TABLE>
[TABLE CONTINUED]

<TABLE>
<CAPTION>
Operating Information Reflected As NOI____ or NCF______
            P4                 P73                         P74                         P30                 P29             P68
                                               MOST RECENT FINANCIAL
                           INFORMATION
<S>                     <C>                   <C>                               <C>                      <C>        <C>
                                              *NORMALIZED OR ACTUAL
       PROPERTY ID      FS START DATE                FS END DATE                OCC AS OF DATE            %         TOTAL REVENUE
                                                                                                          OCC
                             YYYYMMDD                    YYYYMMDD                    YYYYMMDD

Total:

</TABLE>
[TABLE CONTINUED]

<TABLE>
<CAPTION>
Operating Information Reflected As NOI____ or NCF______
            P4                        P70 OR P82     P72 OR P83                (2)
                                                                                                    NET CHANGE

<S>                                   <C>             <C>                      <C>          <C>                         <C>
                                                                                               PRECEDING & BASIS
       PROPERTY ID                       $            (1)                     %                   %                     (1)
                                       NOI/NCF         DSCR                   OCC            TOTAL REVENUE               DSCR

List all properties currently in deal with or without information largest to
smallest loan.

This report should reflect the information provided in the CMSA Property File
and CMSA Loan Periodic Update File.

Total:                                                                             $

(1) DSCR should match to Operating Statement Analysis Report and is normally
calculated using NOI or NCF / Debt Service times the allocated loan percentage.
(2) Net change should compare the latest year to the Base Year.
*  As required by Trust Agreements.
** Weighted Averages should be computed and reflected if the data is relevant
and applicable.
</TABLE>

                                    Page 39

<PAGE>

                        CMSA INVESTOR REPORTING PACKAGE
                      HISTORICAL LOAN MODIFICATION REPORT
                         AS OF ________________________
                              (LOAN LEVEL REPORT)

<TABLE>
<CAPTION>
                      S4        S57          S58                     L49
<S>                             <C>         <C>                <C>               <C>
                PROSPECTUS ID   CITY        STATE              MOD / EXTENSION   EXTENSION PER DOCS OR SERVICER
                                                                       FLAG

THIS REPORT IS HISTORICAL

Information is as of modification. Each line should not change in the future. Only new modifications should be added.

TOTAL FOR ALL LOANS:

</TABLE>
[TABLE CONTINUED]

<TABLE>
<CAPTION>
                      S4                                                                L48
<S>                            <C>                                        <C>
                PROSPECTUS ID                                             EFFECTIVE DATE OF MODIFICATION

THIS REPORT IS HISTORICAL

Information is as of modification. Each line should not change in the future. Only new modifications should be added.

TOTAL FOR ALL LOANS:
</TABLE>

[TABLE CONTINUED]

<TABLE>
<CAPTION>
                      S4                          L7*                                              L7*
<S>                              <C>                                          <C>
                PROSPECTUS ID    BALANCE WHEN SENT TO SPECIAL SERVICER        BALANCE AT THE EFFECTIVE DATE OF MODIFICATION

THIS REPORT IS HISTORICAL

Information is as of modification. Each line should not change in the future. Only new modifications should be added.

TOTAL FOR ALL LOANS:

</TABLE>

[TABLE CONTINUED]

<TABLE>
<CAPTION>
            S4        L50*                                     L50*          L25*         L25*            L11*            L11*
<S>                   <C>        <C>                           <C>            <C>         <C>           <C>             <C>
      PROSPECTUS ID   OLD RATE   # MTHS FOR RATE CHANGE        NEW RATE       OLD P&I     NEW P&I       OLD MATURITY    NEW MATURITY

THIS REPORT IS HISTORICAL

Information is as of modification. Each line should not change in the future. Only new modifications should be added.

TOTAL FOR ALL LOANS:

</TABLE>

[TABLE CONTINUED]

<TABLE>
<CAPTION>
                      S4                                                             L47
<S>                              <C>                                     <C>
                PROSPECTUS ID    TOTAL # MTHS FOR CHANGE OF MOD          (1) REALIZED LOSS TO TRUST $

THIS REPORT IS HISTORICAL

Information is as of modification. Each line should not change in the future. Only new modifications should be added.

TOTAL FOR ALL LOANS:

</TABLE>

[TABLE CONTINUED]

<TABLE>
<CAPTION>
                      S4
<S>                                           <C>                                                          <C>
                PROSPECTUS ID                (2) EST. FUTURE INTEREST LOSS TO TRUST $ (RATE REDUCTION)     COMMENT

THIS REPORT IS HISTORICAL

Information is as of modification. Each line should not change in the future. Only new modifications should be added.

TOTAL FOR ALL LOANS:

*  The information in these columns is from a particular point in time and
   should not change on this report once assigned. Future modifications done on
   the same loan are additions to the report.

(1) Actual principal loss taken by bonds
(2) Expected future loss due to a rate reduction. This is just an estimate calculated at the time of the modification.
</TABLE>

                                    Page 40

<PAGE>

                        CMSA INVESTOR REPORTING PACKAGE
                         HISTORICAL LIQUIDATION REPORT
                   (REO-SOLD, DISCOUNTED PAYOFF OR NOTE SALE)
                            AS OF __________________
                              (LOAN LEVEL REPORT)

<TABLE>
<CAPTION>

        S4                    S55                S61           S57         S58
                                                                                                 (c) = b/a
<S>                      <C>                <C>               <C>         <C>           <C>

PROSPECTUS LOAN ID       PROPERTY NAME      PROPERTY TYPE     CITY        STATE         % RECEIVED FROM LIQUIDATION

THIS REPORT IS HISTORICAL

All information is from the liquidation date and does not need to be updated.

TOTAL ALL LOANS:

CURRENT MONTH ONLY:

</TABLE>

[TABLE CONTINUED]

<TABLE>
<CAPTION>

        S4                             L75                                  L29
                                       (a)                                                          (b)
<S>                    <C>                                     <C>                              <C>

PROSPECTUS LOAN ID     LATEST APPRAISAL OR BROKERS OPINION     EFFECTIVE DATE OF LIQUIDATION    SALES PRICE

THIS REPORT IS HISTORICAL

All information is from the liquidation date and does not need to be updated.

TOTAL ALL LOANS:

CURRENT MONTH ONLY:

</TABLE>

[TABLE CONTINUED]

<TABLE>
<CAPTION>

        S4                          L45                            L7                            L37
                                    (d)                            (e)                           (f)
<S>                     <C>                             <C>                         <C>

PROSPECTUS LOAN ID      NET AMT RECEIVED FROM SALE      ENDING SCHEDULED BALANCE    TOTAL P&I ADVANCE OUTSTANDING

THIS REPORT IS HISTORICAL

All information is from the liquidation date and does not need to be updated.

TOTAL ALL LOANS:

CURRENT MONTH ONLY:

</TABLE>

[TABLE CONTINUED]

<TABLE>
<CAPTION>

        S4                                    L39+L38
                                                (g)                                     (h)                    (i)=d - (f+g+h)
<S>                      <C>                                                   <C>                               <C>

PROSPECTUS LOAN ID       TOTAL T & I AND OTHER EXPENSE ADVANCE OUTSTANDING     SERVICING FEES EXPENSE            NET PROCEEDS

THIS REPORT IS HISTORICAL

All information is from the liquidation date and does not need to be updated.

TOTAL ALL LOANS:

CURRENT MONTH ONLY:

</TABLE>

[TABLE CONTINUED]

<TABLE>
<CAPTION>

        S4                 L47
                           (k)                                               (m)
<S>                   <C>                  <C>                       <C>                      <C>

PROSPECTUS LOAN ID    REALIZED LOSS        DATE LOSS PASSED THRU     MINOR ADJ TO TRUST       DATE OF MINOR ADJ PASSED THRU

THIS REPORT IS HISTORICAL

All information is from the liquidation date and does not need to be updated.

TOTAL ALL LOANS:

CURRENT MONTH ONLY:

</TABLE>

[TABLE CONTINUED]

<TABLE>
<CAPTION>

        S4
                                   (n)=k+m                         (o)=n/e
<S>                        <C>                           <C>

PROSPECTUS LOAN ID        TOTAL LOSS WITH ADJUSTMENT     LOSS % OF SCHEDULED BALANCE

THIS REPORT IS HISTORICA

All information is from the liquidation date and does not need to be updated.

TOTAL ALL LOANS:

CURRENT MONTH ONLY:

(h) Servicing Fee Expense includes fees such as Liquidation or Disposition fees charged by the Special Servicer .

</TABLE>

                                    Page 41

<PAGE>

                                   EXHIBIT X

                         UNRESTRICTED SERVICER REPORTS

<PAGE>

                   COMMERCIAL MORTGAGE SECURITIES ASSOCIATION
                             CMSA "LOAN SETUP" FILE
                              (DATA RECORD LAYOUT)
                             CROSS REFERENCED AS "S"

Specification                                   DESCRIPTION/COMMENTS
<TABLE>
<CAPTION>
<S>                                              <C>
Acceptable Media Types                           Magnetic Tape, Diskette, Electronic Transfer
Character Set                                    ASCII
Field Delineation                                Comma
Density (Bytes-Per-Inch)                         1600 or 6250
Magnetic Tape Label                              None (unlabeled)
Magnetic Tape Blocking Factor                    10285 (17 records per block)
Physical Media Label                             Servicer Name; Data Type (Collection Period Data);
                                                 Density (Bytes-Per-Inch); Blocking Factor; Record Length
Return Address Label                             Required for return of physical media (magnetic tape or diskette)
</TABLE>

<TABLE>
<CAPTION>
                                FIELD                      FORMAT
Field Name                      NUMBER      TYPE           EXAMPLE           DESCRIPTION/COMMENTS
<S>                                 <C>     <C>             <C>          <C>
Transaction Id                      1          AN           XXX97001     Unique Issue Identification Mnemonic
Group Id                            2          AN           XXX9701A     Unique Indentification Number Assigned To Each Loan
                                                                         Group Within An Issue
Loan Id                             3          AN        00000000012345  Unique Servicer Loan Number Number Assigned To Each
                                                                         Collateral Item In A Pool
Prospectus Loan Id                  4          AN              123       Unique Identification Number Assigned To Each
                                                                         Collateral Item In The Prospectus
Original Note Amount                5       Numeric        1000000.00    The Mortgage Loan Balance At Inception Of The Note
Original Term Of Loan               6       Numeric            240       Original Number Of Months Until Maturity Of Loan
Original Amortization Term          7       Numeric            360       Original Number Of Months Loan Amortized Over
Original Note Rate                  8       Numeric           0.095      The Note Rate At Inception Of The Note
Original Payment Rate               9       Numeric           0.095      Original Rate Payment Calculated On
First Loan Payment Due Date         10         AN           YYYYMMDD     First Payment Date On The Mortgage Loan
Grace Days Allowed                  11      Numeric            10        Number Of Days From Due Date Borrower Is Permitted To
                                                                         Remit Payment
Interest Only (Y/N)                 12         AN               Y        Y=Yes,  N=No
Balloon (Y/N)                       13         AN               Y        Y=Yes,  N=No
Interest Rate Type                  14      Numeric             1        1=Fixed, 2=Arm, 3=Step, 9=Other
Interest Accrual Method Code        15      Numeric             1        1=30/360, 2=Actual/365, 3=Actual/360, 4=Actual/Actual,
                                                                         5=Actual/366, 6=Simple, 7=78's
Interest in Arrears (Y/N)           16         AN               Y        Y=Yes,  N=No
Payment Type Code                   17      Numeric             1        See Payment Type Code Legend
Prepayment Lock-out End Date        18         AN           YYYYMMDD     Date After Which Loan Can Be Prepaid
Yield Maintenance End Date          19         AN           YYYYMMDD     Date After Which Loan Can Be Prepaid Without Yield
                                                                         Maintenance
Prepayment Premium End Date         20         AN           YYYYMMDD     Date After Which Loan Can Be Prepaid Without Penalty
Prepayment Terms Description        21         AN             Text       Should reflect the information in Annex A or use the
                                                                         format of  LO(36), YM(28), 7(12), O(3).
                                                                         If manually derived, the Cutoff Date should be the
                                                                         start date for period counting.
ARM Index Code                      22         AN               A        See Arm Index Code Legend
</TABLE>

<PAGE>

                   COMMERCIAL MORTGAGE SECURITIES ASSOCIATION
                             CMSA "LOAN SETUP" FILE
                              (DATA RECORD LAYOUT)
                             CROSS REFERENCED AS "S"
<TABLE>
<CAPTION>
                                FIELD                      FORMAT
Field Name                      NUMBER      TYPE           EXAMPLE           DESCRIPTION/COMMENTS
<S>                                 <C>     <C>             <C>          <C>

First Rate Adjustment Date          23          AN          YYYYMMDD     Date Note Rate Originally Changed
First Payment Adjustment Date       24          AN          YYYYMMDD     Date Payment Originally Changed
ARM Margin                          25       Numeric          0.025      Rate Added To Index Used In The Determination Of The Gross
                                                                         Interest Rate
Lifetime Rate Cap                   26       Numeric          0.15       Maximum Rate That The Borrower Must Pay On An Arm Loan Per
                                                                         The Loan Agreement
Lifetime Rate Floor                 27       Numeric          0.05       Minimum Rate That The Borrower Must Pay On An Arm Loan Per
                                                                         The Loan Agreement
Periodic Rate Increase Limit        28       Numeric          0.02       Maximum Periodic Increase To The Note Rate Allowed Per The
                                                                         Loan Agreement
Periodic Rate Decrease Limit        29       Numeric          0.02       Minimum Periodic Decrease To The Note Rate Allowed Per The
                                                                         Loan Agreement
Periodic Pay Adjustment Max-%       30       Numeric          0.03       Max Periodic % Increase To The P&I Payment Allowed Per The
                                                                         Loan Agreement
Periodic Pay Adjustment Max-$       31       Numeric         5000.00     Max Periodic Dollar Increase To The P&I Payment Allowed
                                                                         Per The Loan Agreement
Payment Frequency                   32       Numeric            1        1=Monthly, 3=Quarterly, 6=Semi-Annually, 12=Annually...
Rate Reset Frequency                33       Numeric            1        1=Monthly, 3=Quarterly, 6=Semi-Annually, 12=Annually,
                                                                         365=Daily
Pay Reset Frequency                 34       Numeric            1        1=Monthly, 3=Quarterly, 6=Semi-Annually, 12=Annually,
                                                                         365=Daily
Rounding Code                       35       Numeric            1        Rounding Method For Sum Of Index Plus Margin (See
                                                                         Rounding Code Legend)
Rounding Increment                  36       Numeric         0.00125     Used In Conjunction With Rounding Code
Index Look Back In Days             37       Numeric           45        Use Index In Effect X Days Prior To Adjustment Date
Negative Amortization Allowed
 (Y/N)                              38          AN              Y        Y=Yes,  N=No
Max Neg Allowed (% Of Orig Bal)     39       Numeric          0.075      Max Lifetime % Increase to the Original Balance Allowed
                                                                         Per The Loan Agreement
Maximum Negate Allowed ($)          40       Numeric        25000.00     Max Lifetime Dollar Increase to the Original Balance
                                                                         Allowed Per The Loan Agreement
Remaining Term At Contribution      41       Numeric           240       Remaining Number Of Months Until Maturity Of Loan At Cutoff
Remaining Amort Term At
 Contribution                       42       Numeric           360       Remaining Number Of Months Loan Amortized Over At Cutoff
Maturity Date At Contribution       43          AN          YYYYMMDD     The Scheduled Maturity Date Of The Mortgage Loan At
                                                                         Contribution
Scheduled Principal Balance At
 Contribution                       44       Numeric       1000000.00    The Scheduled Principal Balance Of The Mortgage Loan
                                                                         At Contribution
Note Rate At Contribution           45       Numeric          0.095      Cutoff Annualized Gross Interest Rate Applicable To The
                                                                         Calculation Of Scheduled Interest
Servicer And Trustee Fee Rate       46       Numeric         0.00025     Cutoff Annualized Fee Paid To The Servicer And Trustee
Fee Rate / Strip Rate 1             47       Numeric         0.00001     Cutoff Annualized Fee/Strip Netted Against Current
                                                                         Note Rate = Net Rate
Fee Rate / Strip Rate 2             48       Numeric         0.00001     Cutoff Annualized Fee/Strip Netted Against Current
                                                                         Note Rate = Net Rate
Fee Rate / Strip Rate 3             49       Numeric         0.00001     Cutoff Annualized Fee/Strip Netted Against Current
                                                                         Note Rate = Net Rate
Fee Rate / Strip Rate 4             50       Numeric         0.00001     Cutoff Annualized Fee/Strip Netted Against Current
                                                                         Note Rate = Net Rate
Fee Rate / Strip Rate 5             51       Numeric         0.00001     Cutoff Annualized Fee/Strip Netted Against Current
                                                                         Note Rate = Net Rate
Net Rate At Contribution            52       Numeric         0.0947      Cutoff Annualized Interest Rate Applicable To The
                                                                         Calculation Of Remittance Interest
Periodic P&I Payment At
 Contribution                       53       Numeric         3000.00     The Periodic Scheduled Principal & Interest
                                                                         Payment at Contribution
#
 Of Properties at Contribution      54       Numeric           13        L86 - The Number Of Properties Underlying
                                                                         The Mortgage Loan
Property Name                       55          AN            Text       P7 - If Multiple properties print "Various"
Property Address                    56          AN            Text       P8 - If Multiple properties print "Various"

</TABLE>

<PAGE>

                   COMMERCIAL MORTGAGE SECURITIES ASSOCIATION
                             CMSA "LOAN SETUP" FILE
                              (DATA RECORD LAYOUT)
                             CROSS REFERENCED AS "S"

<TABLE>
<CAPTION>
                                FIELD                      FORMAT
Field Name                      NUMBER      TYPE           EXAMPLE        DESCRIPTION/COMMENTS
<S>                                 <C>     <C>          <C>            <C>

Property City                       57        AN           Text         P9 - If Multiple properties have the same city then print
                                                                        the city, otherwise print "Various".  Missing information
                                                                        print "Incomplete"
Property State                      58        AN           Text         P10 - If Multiple properties have the same state then print
                                                                        the state, otherwise print "XX" to represent various.
                                                                        Missing information print "ZZ"
Property Zip Code                   59        AN           Text         P11 - If Multiple properties have the same zip code then
                                                                        print the zip code, otherwise print "Various". Missing
                                                                        information print "Incomplete"
Property County                     60        AN           Text         P12 - If Multiple properties have the same county then
                                                                        print the county, otherwise print "Various". Missing
                                                                        information print "Incomplete"
Property Type Code                  61        AN            MF          P13 -  If Multiple properties have the same property type
                                                                        code then print the property code, otherwise print "XX"
                                                                        to represent various.  Missing information print "ZZ"
Net Square Feet At Contribution     62     Numeric         25000        P16 - For Multiple properties, if all the same Property
                                                                        Type, sum the values, if missing any leave empty
# Of Units/Beds/Rooms At
Contribution                        63     Numeric          75          P17 - For Multiple properties, if all the same Property
                                                                        Type, sum the values, if missing any leave empty
Year Built                          64        AN           YYYY         P14 - If Multiple properties have the same Year
                                                                        Built then print Year Built else leave empty
NOI At Contribution                 65     Numeric       100000.00      P47 - If Multiple properties sum the values, if missing
                                                                        any then populate using the "DSCR Indicator Legend" rule.
                                                                        Should match the prospectus if available.
DSCR (NOI) At Contribution          66     Numeric         2.11         P48 - If Multiple properties populate using the "DSCR
                                                                        Indicator Legend" rule. DSCR At Contribution using NOI.
                                                                        Should match the prospectus if available.
Appraisal Value At Contribution     67     Numeric      1000000.00      P49 -  If Multiple properties sum the values , if missing
                                                                        any then leave empty
Appraisal Date At Contribution      68        AN         YYYYMMDD       P50 - If Multiple properties and all the same then print
                                                                        the date, if missing any then leave empty
Physical Occupancy At Contribution  69     Numeric         0.88         P51 -  If Multiple properties, Use weighted average by
                                                                        using the calculation [ Current Allocated % (Prop) *
                                                                        Occupancy (Oper) ] for each Property, if missing one
                                                                        then leave empty
Revenue At Contribution             70     Numeric       100000.00      P45 -  If Multiple properties then sum the value, if
                                                                        missing any then populate using the "DSCR Indicator Legend"
                                                                        rule.  Should match the prospectus if available.
Operating Expenses At Contribution  71     Numeric       100000.00      P46 -  If Multiple properties then sum the value, if
                                                                        missing any then populate using the "DSCR Indicator Legend"
                                                                        rule.   Should match the prospectus if available.
Contribution Financials As Of Date  72        AN         YYYYMMDD       P44 - If Multiple properties and all the same then print
                                                                        the date, if missing any then leave empty
Recourse (Y/N)                      73        AN             Y          Y=Yes,  N=No
Ground Lease (Y/S/N)                74        AN             Y          Y=Yes, S=Subordinate, N= No ground lease, P22 -
                                                                        If Multiple properties and any one property is "Y" or "S"
                                                                        print  "Y"
</TABLE>

<PAGE>

                   COMMERCIAL MORTGAGE SECURITIES ASSOCIATION
                             CMSA "LOAN SETUP" FILE
                              (DATA RECORD LAYOUT)
                             CROSS REFERENCED AS "S"

<TABLE>
<CAPTION>
                                FIELD                      FORMAT
Field Name                      NUMBER      TYPE           EXAMPLE          DESCRIPTION/COMMENTS
<S>                                 <C>     <C>             <C>          <C>

Cross-Collateralized Loan Grouping  75         AN            Text       P6 - All Loans With The Same Value Are Crossed, For
                                                                        example : "X02-1" would be populated in this field for all
                                                                        related loans, "X02-2" would be populated for the next
                                                                        group of related loans.
Collection Of Escrows (Y/N)         76         AN              Y        Y=Yes,  N=No  -  Referring to Taxes and Insurance
Collection Of Other Reserves (Y/N)  77         AN              Y        Y=Yes,  N=No -  Referring to Reserves other than Taxes and
                                                                        Insurance.  If any property has a value > 0 in P23,
                                                                        this field should be "Y"
Lien Position At Contribution       78      Numeric            1        1=First, 2=Second...
Hyper Amortizing Begin Date         79         AN          YYYYMMDD     L81 - Date used to track Anticipated Repayment Date Loans
Defeasance Option Start Date        80         AN          YYYYMMDD     Date loan can start defeasance
Defeasance Option End Date          81         AN          YYYYMMDD     Date that defeasance ends
Last Setup Change Date              82         AN          YYYYMMDD     L83 - Distribution Date that the information was last
                                                                        changed by loan
NCF At Contribution                 83      Numeric        100000.00    P76 - If Multiple properties sum the values, if missing
                                                                        any then populate using the "DSCR Indicator Legend" rule.
                                                                        Net Cash Flow At Contribution.   Should match the
                                                                        prospectus if available.
DSCR (NCF) At Contribution          84      Numeric          2.11       P77 - If Multiple properties populate using the
                                                                        "DSCR Indicator Legend" rule. DSCR At Contribution using
                                                                        NCF to calculate.  Should match the prospectus if available.
DSCR Indicator at Contribution      85         AN            Text       Flag used to explain how the DSCR was calculated when
                                                                        there are multiple properties.  See DSCR Indicator Legend.
Loan Contributor to Securitization  86         AN            Text       Name of entity ultimately responsible for the reps and
                                                                        warranties of the loan contributed
Credit Tenant Lease                 87         AN              Y        L101 - Y=Yes,  N=No
</TABLE>

<PAGE>

                   COMMERCIAL MORTGAGE SECURITIES ASSOCIATION
                             CMSA "LOAN SETUP" FILE
                              (DATA RECORD LAYOUT)
                             CROSS REFERENCED AS "S"
<TABLE>
<CAPTION>

<S>     <C>  <C>                          <C>                    <C>                     <C>
              Rounding Code                                                            ARM INDEX CODE
                  Legend                                                                   LEGEND
  1     Unrounded                                                A                       11 FHLB COFI  (1 Month)
  2     Nearest Percentage Increment                             B                       11 FHLB COFI  (6 Month)
  3     Up To Nearest Percentage Increment                       C                       1 Year CMT Weekly Average Treasury
  4     Down To Nearest Percentage Increment                     D                       3 Year CMT Weekly Average Treasury
                                                                 E                       5 Year CMT Weekly Average Treasury
                                                                 F                       Wall Street Journal Prime Rate

                             PROPERTY TYPES CODE                 G                       1 Month LIBOR
                                    LEGEND                       H                       3 Month LIBOR
             MF                           Multifamily            I                       6 Month LIBOR
             RT                           Retail                 J                       National Mortgage Index Rate
             HC                           Health Care                                    All Others Use Short Text Description
             IN                           Industrial
             WH                           Warehouse
             MH                           Mobile Home Park                            PAYMENT TYPE CODE
             OF                           Office                                         LEGEND
             MU                           Mixed Use              1                       Fully Amortizing
             LO                           Lodging                2                       Amortizing Balloon
             SS                           Self Storage           3                       Interest Only / Balloon
             OT                           Other                  4                       Interest Only / Amortizing
             SE                           Securities             5                       Interest Only / Amortizing / Balloon
                                                                 6                       Principal Only
                                                                 7                       Hyper-Amortization
                                                                 9                       Other

                                                                                        DSCR INDICATOR
                                                                                            LEGEND
                                                                 P                       Partial - Not all properties received
                                                                                         financials, servicer to leave empty
                                                                 A                       Average - Not all properties received
                                                                                         financials, servicer allocates Debt
                                                                                         Service only to properties where financials
                                                                                         are received.
                                                                 F                       Full - All Statements Collected for all
                                                                                         properties
                                                                 W                       Worst Case - Not all properties received
                                                                                         financials, servicer allocates 100% of
                                                                                         Debt Service to all properties where
                                                                                         financials are received.
                                                                 N                       None Collected - no financials were
                                                                                         received
                                                                 C                       Consolidated-All properties reported on
                                                                                         1 "rolled up" financial from the borrower

</TABLE>

<PAGE>

                   COMMERCIAL MORTGAGE SECURITIES ASSOCIATION
                        CMSA "LOAN PERIODIC" UPDATE FILE
                              (DATA RECORD LAYOUT)
                             CROSS REFERENCED AS "L"
<TABLE>
<CAPTION>
SPECIFICATION                                 DESCRIPTION/COMMENTS

<S>                                 <C>
Acceptable Media Types              Magnetic Tape, Diskette, Electronic Transfer
Character Set                       ASCII
Field Delineation                   Comma
Density (Bytes-Per-Inch)            1600 or 6250
Magnetic Tape Label                 None (unlabeled)
Magnetic Tape Blocking Factor       10285 (17 records per block)
Physical Media Label                Servicer Name; Data Type (Collection Period Data); Density (Bytes-Per-Inch);
                                    Blocking Factor; Record Length
Return Address Label                Required for return of physical media (magnetic tape or diskette)
</TABLE>

<TABLE>
<CAPTION>
                                FIELD                  FORMAT
Field Name                      NUMBER       TYPE      EXAMPLE                 DESCRIPTION/COMMENTS
<S>                                 <C>      <C>        <C>              <C>
Transaction Id                      1        AN         XXX97001         Unique Issue Identification Mnemonic
Group Id                            2        AN         XXX9701A         Unique Identification Number Assigned To Each Loan Group
                                                                         Within An Issue
Loan Id                             3        AN      00000000012345      Unique Servicer Loan Number Assigned To Each Collateral
                                                                         Item In A Pool
Prospectus Loan Id                  4        AN            123           Unique Identification Number Assigned To Each Collateral
                                                                         Item In The Prospectus
Distribution Date                   5        AN         YYYYMMDD         Date Payments  Made To Certificateholders
Current Beginning Scheduled
 Balance                            6      Numeric      100000.00        Outstanding Sched Prin Bal at Beginning of current period
                                                                         that is part of the trust
Current Ending Scheduled  Balance   7      Numeric      100000.00        Outstanding Sched Prin Bal at End of current period that
                                                                         is part of the trust
Paid To Date                        8        AN         YYYYMMDD         Date loan is paid through. One frequency < the date the
                                                                         loan is due for next payment
Current Index Rate                  9      Numeric        0.09           Index Rate Used In The Determination Of The Current
                                                                         Period Gross Interest Rate
Current Note Rate                   10     Numeric        0.09           Annualized Gross Rate Applicable To Calculate The
                                                                         Current Period Scheduled Interest
Maturity Date                       11       AN         YYYYMMDD         Date Collateral Is Scheduled To Make Its Final Payment
Servicer and Trustee Fee Rate       12     Numeric       0.00025         Annualized Fee Paid To The Servicer And Trustee
Fee Rate/Strip Rate 1               13     Numeric       0.00001         Annualized Fee/Strip Netted Against Current Note
                                                                         Rate = Net Rate
Fee Rate/Strip Rate 2               14     Numeric       0.00001         Annualized Fee/Strip Netted Against Current Note
                                                                         Rate = Net Rate
Fee Rate/Strip Rate 3               15     Numeric       0.00001         Annualized Fee/Strip Netted Against Current Note
                                                                         Rate = Net Rate
Fee Rate/Strip Rate 4               16     Numeric       0.00001         Annualized Fee/Strip Netted Against Current Note
                                                                         Rate = Net Rate
Fee Rate/Strip Rate 5               17     Numeric       0.00001         Annualized Fee/Strip Netted Against Current Note
                                                                         Rate = Net Rate
Net Rate                            18     Numeric       0.0947          Annualized Interest Rate Applicable To Calculate
                                                                         The Current Period Remittance Int.
Next Index Rate                     19     Numeric        0.09           Index Rate Used In The Determination Of The Next
                                                                         Period Gross Interest Rate
Next Note Rate                      20     Numeric        0.09           Annualized Gross Interest Rate Applicable To Calc Of
                                                                         The Next Period Sch. Interest
Next Rate Adjustment Date           21       AN         YYYYMMDD         Date Note Rate Is Next Scheduled To Change
Next Payment Adjustment Date        22       AN         YYYYMMDD         Date Scheduled P&I Amount Is Next Scheduled To Change
Scheduled Interest Amount           23     Numeric       1000.00         Scheduled Gross Interest Payment Due For The Current
                                                                         Period that goes to the trust
Scheduled Principal Amount          24     Numeric       1000.00         Scheduled Principal Payment Due For The Current Period
                                                                         that goes to the trust
Total Scheduled P&I Due             25     Numeric       1000.00         Scheduled Principal & Interest Payment Due For Current
                                                                         Period for the trust
</TABLE>

<PAGE>

                   COMMERCIAL MORTGAGE SECURITIES ASSOCIATION
                        CMSA "LOAN PERIODIC" UPDATE FILE
                              (DATA RECORD LAYOUT)
                             CROSS REFERENCED AS "L"

<TABLE>
<CAPTION>
                                FIELD                  FORMAT
Field Name                      NUMBER       TYPE      EXAMPLE                 DESCRIPTION/COMMENTS
<S>                                 <C>      <C>        <C>              <C>
Neg am/Deferred Interest Amount     26      Numeric      1000.00         Negative Amortization/Deferred Interest Amount Due For
                                                                         The Current Period
Unscheduled Principal Collections   27      Numeric      1000.00         Unscheduled Payments Of Principal Received During
                                                                         The Related Collection Period
Other Principal Adjustments         28      Numeric      1000.00         Unscheduled Principal Adjustments For The
                                                                         Related Collection Period
Liquidation/Prepayment Date         29        AN         YYYMMDD         Date Unscheduled Payment Of Principal Received
Prepayment Penalty/Yld Maint Rec'd  30      Numeric      1000.00         Additional Payment Req'd From Borrower Due To
                                                                         Prepayment Of Loan Prior To Maturity
Prepayment Interest Excess
 (Shortfall)                        31      Numeric      1000.00         Interest Shortfall or Excess as calculated by
                                                                         Servicer per the Trust documents
Liquidation/Prepayment Code         32      Numeric         1            See Liquidation/Prepayment Codes Legend
Most Recent ASER Amount             33      Numeric      1000.00         Appraisal Subordinated Entitlement Reduction -
                                                                         The difference between a full advance and the reduced
                                                                         advance is the ASER or as defined in the Trust documents
Blank                               34        AN          Blank          Left blank on purpose. (Note: was previously Most
                                                                         Recent ASER Date. Field not considered applicable to ASER.)
Cumulative ASER Amount              35      Numeric      1000.00         Cumulative Appraisal Subordinated Entitlement Reduction
Actual Balance                      36      Numeric     100000.00        Outstanding Actual Principal Balance At The End Of
                                                                         The Current Period
Total P&I Advance Outstanding       37      Numeric      1000.00         Outstanding P&I Advances At The End Of The Current Period
Total T&I Advance Outstanding       38      Numeric      1000.00         Outstanding Taxes & Insurance Advances At The End Of
                                                                         The Current Period
Other Expense Advance Outstanding   39      Numeric      1000.00         Other Outstanding Advances At The End Of
                                                                         The Current Period
Status of Loan                      40        AN            1            See Status Of Loan Legend
In Bankruptcy                       41        AN            Y            Bankruptcy Status Of Loan (If In Bankruptcy "Y", Else "N")
Foreclosure Date                    42        AN         YYYMMDD         P27 -  If Multiple properties have the same date then
                                                                         print that date otherwise leave empty
REO Date                            43        AN         YYYMMDD         P28 -  If Multiple properties have the same date then
                                                                         print that date otherwise leave empty
Bankruptcy Date                     44        AN         YYYMMDD         Date Of Bankruptcy
Net Proceeds Received on
 Liquidation                        45      Numeric     100000.00        Net Proceeds Rec'd On Liquidation To Be Remitted to the
                                                                         Trust per the Trust Documents
Liquidation Expense                 46      Numeric     100000.00        Expenses Associated With The Liq'n To Be Netted from the
                                                                         Trust per the Trust Documents
Realized Loss to Trust              47      Numeric     10000.00         Liquidation Balance Less Net Liquidation Proceeds Received
                                                                         (as defined in Trust documents)
Date of Last Modification           48        AN         YYYMMDD         Date Loan Was Modified
Modification Code                   49      Numeric         1            See Modification Codes Legend
Modified Note Rate                  50      Numeric       0.09           Note Rate Loan Modified To
Modified Payment Rate               51      Numeric       0.09           Payment Rate Loan Modified To
Preceding Fiscal Year Revenue       52      Numeric      1000.00         P54 - If Multiple properties then sum the value, if
                                                                         missing any then populate using the "DSCR Indicator
                                                                         Legend" rule
Preceding Fiscal Year Operating
 Expenses                           53      Numeric      1000.00         P55 -  If Multiple properties then sum the value,
                                                                         if missing any then populate using the "DSCR Indicator
                                                                         Legend" rule
Preceding Fiscal Year NOI           54      Numeric      1000.00         P56 -  If Multiple properties then sum the value, if
                                                                         missing any then populate using the "DSCR Indicator
                                                                         Legend" rule
Preceding Fiscal Year Debt Svc
 Amount                             55      Numeric      1000.00         P57 -  If Multiple properties then sum the value,
                                                                         if missing any then populate using the "DSCR Indicator
                                                                         Legend" rule

</TABLE>

<PAGE>

                    COMMERCIAL MORTGAGE SECURITIES ASSOCIATION
                         CMSA "LOAN PERIODIC" UPDATE FILE
                               (DATA RECORD LAYOUT)
                             CROSS REFERENCED AS "L"

<TABLE>
<CAPTION>
                                FIELD                  FORMAT
Field Name                      NUMBER       TYPE      EXAMPLE                 DESCRIPTION/COMMENTS
<S>                                 <C>      <C>        <C>              <C>

Preceding Fiscal Year DSCR (NOI)    56      Numeric       2.55          P58 - If Multiple properties populate using the "DSCR
                                                                        Indicator Legend" rule.   Preceding Fiscal Yr Debt
                                                                        Svc Cvrge Ratio using NOI
Preceding Fiscal Year Physical
 Occupancy                          57      Numeric       0.85          P59 - If Multiple properties, Use weighted average by
                                                                        using the calculation [ Current Allocated % (Prop) *
                                                                        Occupancy (Oper) ] for each Property, if missing any
                                                                        then leave empty
Preceding Fiscal Year Financial
 As of Date                         58        AN        YYYYMMDD        P53 - If Multiple properties and all the same then
                                                                        print the date, if missing any then leave empty
Second Preceding Fiscal Year
 Revenue                            59      Numeric      1000.00        P61 - If Multiple properties then sum the value, if
                                                                        missing any then populate using the "DSCR Indicator
                                                                        Legend" rule
Second Preceding Fiscal Year
 Operating Expenses                 60      Numeric      1000.00        P62 -  If Multiple properties then sum the value, if
                                                                        missing any then populate using the "DSCR Indicator
                                                                        Legend" rule
Second Preceding Fiscal Year NOI    61      Numeric      1000.00        P63 -  If Multiple properties then sum the value, if
                                                                        missing any then populate using the "DSCR Indicator
                                                                        Legend" rule
Second Preceding Fiscal Year
 Debt Service Amount                62      Numeric      1000.00        P64 -  If Multiple properties then sum the value,
                                                                        if missing any then populate using the "DSCR Indicator
                                                                        Legend" rule
Second Preceding Fiscal Year
 DSCR (NOI)                         63      Numeric       2.55          P65 - If Multiple properties populate using the "DSCR
                                                                        Indicator Legend" rule.   Second Preceding Fiscal
                                                                        Year Debt Service Coverage Ratio using NOI
Second Preceding Fiscal Year
 Physical Occupancy                 64      Numeric       0.85          P66 - If Multiple properties, Use weighted average by
                                                                        using the calculation [ Current Allocated % (Prop) *
                                                                        Occupancy (Oper) ] for each Property, if missing any then
                                                                        leave empty
Second Preceding Fiscal Year
 Financial As of Date               65        AN        YYYYMMDD        P60 - If Multiple properties and all the same then print
                                                                        the date, if missing any then leave empty
Most Recent Revenue                 66      Numeric      1000.00        P68 - If Multiple properties then sum the value,
                                                                        if missing any then populate using the "DSCR Indicator
                                                                        Legend" rule
Most Recent Operating Expenses      67      Numeric      1000.00        P69 -  If Multiple properties then sum the value, if
                                                                        missing any then populate using the "DSCR Indicator
                                                                        Legend" rule
Most Recent NOI                     68      Numeric      1000.00        P70 -  If Multiple properties then sum the value,
                                                                        if missing any then populate using the "DSCR Indicator
                                                                        Legend" rule
Most Recent Debt Service Amount     69      Numeric      1000.00        P71 -  If Multiple properties then sum the value,
                                                                        if missing any then populate using the "DSCR
                                                                        Indicator Legend" rule
Most Recent DSCR (NOI)              70      Numeric       2.55          P72 - If Multiple properties populate using the "DSCR
                                                                        Indicator Legend" rule.   Most Recent Debt Service
                                                                        Coverage Ratio using NOI
Most Recent Physical Occupancy      71      Numeric       0.85          P29 - If Multiple properties, Use weighted average by
                                                                        using the calculation [ Current Allocated % (Prop) *
                                                                        Occupancy (Oper) ] for each Property, if missing any then
                                                                        leave empty

</TABLE>

<PAGE>

                   COMMERCIAL MORTGAGE SECURITIES ASSOCIATION
                        CMSA "LOAN PERIODIC" UPDATE FILE
                              (DATA RECORD LAYOUT)
                             CROSS REFERENCED AS "L"

<TABLE>
<CAPTION>
                                FIELD                  FORMAT
Field Name                      NUMBER       TYPE      EXAMPLE                 DESCRIPTION/COMMENTS
<S>                                 <C>      <C>        <C>              <C>

Most Recent Financial As of
 Start Date                         72        AN        YYYYMMDD        P73 - If Multiple properties and all the same then print
                                                                        the date, if missing any then leave empty
Most Recent Financial As
 of End Date                        73        AN        YYYYMMDD        P74 - If Multiple properties and all the same then print
                                                                        the date, if missing any then leave empty
Most Recent Appraisal Date          74        AN        YYYYMMDD        P24 - If Multiple properties and all the same then print
                                                                        the date, if missing any then leave empty
Most Recent Appraisal Value         75      Numeric     100000.00       P25 - If Multiple properties then sum the value, if
                                                                        missing any then leave empty
Workout Strategy Code               76      Numeric         1           See Workout Strategy Codes Legend
Most Recent Special Servicer
 Transfer Date                      77        AN        YYYYMMDD        Date Transferred To The Special Servicer
Most Recent Master Servicer
 Return Date                        78        AN        YYYYMMDD        Date Returned To The Master Servicer or Primary Servicer
Date Asset Expected to Be
 Resolved or Foreclosed             79        AN        YYYYMMDD        P26 - If Multiple properties then print the latest
                                                                        date from the affiliated properties.   If in Foreclosure -
                                                                        Expected Date of Foreclosure and if REO -
                                                                        Expected Sale Date.
Blank                               80        AN          Blank         Left blank on purpose. (Note : was previously Year
                                                                        Renovated.  Use the Property File field 15 instead)
Current Hyper Amortizing Date       81        AN        YYYYMMDD        S79 - Current Anticipated Repayment Date.
                                                                        Date will be the same as setup file unless the loan is
                                                                        modified and a new date assigned
Most Recent Financial Indicator     82        AN         T or Y         P75 - T= Trailing 12 months Y = Year to Date, Check
                                                                        Start & End Date Applies to field L66 to L73.  If
                                                                        Multiple properties and all the same then print the value,
                                                                        if missing any or if the values are not the same,
                                                                        then leave empty
Last Setup Change Date              83        AN        YYYYMMDD        S82 - Distribution Date that information changed last in
                                                                        the setup file by loan
Last Loan Contribution Date         84        AN        YYYYMMDD        Date the loan was contributed
Last Property Contribution Date     85        AN        YYYYMMDD        P67 - Date the latest property or properties were
                                                                        contributed.  For Multiple properties print the latest
                                                                        date from the affiliated properties
Number of Properties                86      Numeric       13.00         S54 - The Number of Properties Underlying the
                                                                        Mortgage Loan
Preceding Year DSCR Indicator       87        AN          Text          Flag used to explain how the DSCR was calculated when
                                                                        there are multiple properties.  See DSCR Indicator Legend.
Second Preceding Year DSCR
 Indicator                          88        AN          Text          Flag used to explain how the DSCR was calculated when
                                                                        there are multiple properties.  See DSCR Indicator Legend.
Most Recent  DSCR Indicator         89        AN          Text          Flag used to explain how the DSCR was calculated when
                                                                        there are multiple properties.  See DSCR Indicator Legend.
NOI/NCF Indicator                   90        AN          Text          Indicates how NOI or Net Cash Flow was calculated
                                                                        should be the same for each financial period.  See
                                                                        NOI/NCF Indicator Legend. P84 - If Multiple Properties
                                                                        and all the same then print value, if missing any or if
                                                                        the values are not the same, then leave empty.
Date of Assumption                  91        AN        YYYYMMDD        Date the loan last assumed by a new borrower-
                                                                        empty if never assumed
</TABLE>

<PAGE>

                   COMMERCIAL MORTGAGE SECURITIES ASSOCIATION
                        CMSA "LOAN PERIODIC" UPDATE FILE
                              (DATA RECORD LAYOUT)
                             CROSS REFERENCED AS "L"

<TABLE>
<CAPTION>
                                FIELD                  FORMAT
Field Name                      NUMBER       TYPE      EXAMPLE                 DESCRIPTION/COMMENTS
<S>                                 <C>      <C>        <C>              <C>

Preceding Fiscal Year NCF            92     Numeric      1000.00        P78 - Preceding Fiscal Year Net Cash Flow related to
                                                                        Financial As of Date L58.  If Multiple properties then
                                                                        sum the value, if missing any then populate using the
                                                                        "DSCR Indicator Legend" rule
Preceding Fiscal Year DSCR (NCF)     93     Numeric       2.55          P79 - Preceding Fiscal Yr Debt Service Coverage Ratio
                                                                        using NCF related to Financial As of Date L58.
                                                                        If Multiple properties populate using the "DSCR
                                                                        Indicator Legend" rule.
Second Preceding Fiscal Year NCF     94     Numeric      1000.00        P80 - Second Preceding Fiscal Year Net Cash Flow
                                                                        related to Financial As of Date L65.   If Multiple
                                                                        properties then sum the value, if missing any then
                                                                        populate using the "DSCR Indicator Legend" rule
Second Preceding Fiscal Year
 DSCR (NCF)                          95     Numeric       2.55          P81 - Second Preceding Fiscal Year Debt Service
                                                                        Coverage Ratio using Net Cash Flow related to
                                                                        Financial As of Date L65.   If Multiple properties
                                                                        populate using the "DSCR Indicator Legend" rule.
Most Recent NCF                      96     Numeric      1000.00        P82 - Most Recent Net Cash Flow related to Financial As
                                                                        of Ending Date L73.   If Multiple properties then sum
                                                                        the value, if missing any then populate using the
                                                                        "DSCR Indicator Legend" rule
Most Recent DSCR (NCF)               97     Numeric      1000.00        P83 - Most Recent Debt Service Coverage Ratio using
                                                                        Net Cash Flow related to Financial As of Ending Date L73.
                                                                        If Multiple properties populate using the "DSCR
                                                                        Indicator Legend" rule.
Defeasance Status                    98       AN          Text          See Defeasance Status Legend
ARA Amount                           99     Numeric      1000.00        Appraisal Reduction Amount - Excess of the principal
                                                                        balance over the defined appraisal % or as
                                                                        defined in the trust documents
ARA Date                            100       AN        YYYYMMDD        Date of appraisal used to calculate ARA
Credit Tenant Lease                 101       AN            Y           S87 - Y=Yes,  N=No
</TABLE>

<PAGE>

                   COMMERCIAL MORTGAGE SECURITIES ASSOCIATION
                        CMSA "LOAN PERIODIC" UPDATE FILE
                              (DATA RECORD LAYOUT)
                             CROSS REFERENCED AS "L"
<TABLE>
<CAPTION>
Workout Strategy Code Legend                                                         STATUS OF MORTGAGE LOAN
                                                                                             LEGEND
<S>                <C>                                      <C>                   <C>
 1                     Modification                          A                     Payment Not Received But Still In Grace Period
 2                     Foreclosure                           B                     Late Payment But Less Than 30 days Delinquent
 3                     Bankruptcy                            0                     Current
 4                     Extension                             1                     30-59 Days Delinquent
 5                     Note Sale                             2                     60-89 Days Delinquent
 6                     DPO                                   3                     90+ Days Delinquent
 7                     REO                                   4                     Assumed Scheduled Payment (Performing
                                                                                   Matured Balloon)
 8                     Resolved                              7                     Foreclosure
 9                     Pending Return to Master Servicer     9                     REO
10                     Deed In Lieu Of Foreclosure

11                     Full Payoff                                                     MODIFICATION CODE
12                     Reps and Warranties                                                  LEGEND
13                     Other or TBD                          1                     Maturity Date Extension
                                                             2                     Amortization Change
LIQUIDATION/PREPAYMENT CODE                                  3                     Principal Write-Off
       LEGEND                                                4                     Combination
  1                     Partial Liq'n (Curtailment)
  2                     Payoff Prior To Maturity                                        DSCR INDICATOR
  3                     Disposition                                                         LEGEND
  4                     Repurchase/ Substitution             P          Partial - Not all properties received financials,
                                                                        servicer to leave empty
  5                     Full Payoff At Maturity              A          Average - Not all properties received financials,
                                                                        servicer allocates Debt Service only to properties
                                                                        where financials are received.
  6                     DPO                                  F          Full - All Statements Collected for all properties
  7                     Liquidation                          W          Worst Case - Not all properties received financials,
                                                                        servicer allocates 100% of Debt Service to all properties
                                                                        where financials are received.
  8                     Payoff w/ penalty                    N          None Collected - no financials were received
  9                     Payoff w/ yield Maintenance          C          Consolidated - All properties reported on one
                                                                        "rolled up" financial from the borrower
 10                     Curtailment w/ Penalty
 11                     Curtailment w/ Yield Maintenance

                                                                                     NOI/NCF INDICATOR
                           Defeasance Status                                              LEGEND
                                Legend                      CMSA         Calculated using CMSA standard
  P                     Partial Defeasance                  PSA          Calculated using a definition given in the PSA
  F                     Full Defeasance                     U/W          Calculated using the underwriting method
  N                     No Defeasance Occurred
  X                     Defeasance not Allowable
</TABLE>

<PAGE>

                   COMMERCIAL MORTGAGE SECURITIES ASSOCIATION
                              CMSA "PROPERTY" FILE
                              (DATA RECORD LAYOUT )
                             CROSS REFERENCED AS "P"

<TABLE>
<CAPTION>

SPECIFICATION                                                                      DESCRIPTION/COMMENTS
<S>                                                                     <C>
Acceptable Media Types                                                  Magnetic Tape, Diskette, Electronic Transfer
Character Set                                                           ASCII
Field Delineation                                                       Comma
Density (Bytes-Per-Inch)                                                1600 or 6250
Magnetic Tape Label                                                     None (unlabeled)
Magnetic Tape Blocking Factor                                           10285 (17 records per block)
Physical Media Label                                                    Servicer Name; Data Type (Collection Period Data);
                                                                        Density (Bytes-Per-Inch); Blocking Factor; Record Length
Return Address Label                                                    Required for return of physical media (magnetic tape
                                                                        or diskette)
</TABLE>

<TABLE>
<CAPTION>
                                    FIELD                FORMAT                                                          LOAN FIELD
FIELD NAME                          NUMBER     TYPE      EXAMPLE                  DESCRIPTION/COMMENTS                    REFERENCE
<S>                                 <C>      <C>         <C>            <C>                                                  <C>
Transaction Id                      1        AN          XXX97001       Unique Issue Identification Mnemonic                 S1, L1
Loan ID                             2        AN          XXX9701A       Unique Servicer Loan Number Assigned
                                                                        To Each Collateral Item In A Pool                    S3, L3
Prospectus Loan ID                  3        AN            123          Unique Identification Number Assigned
                                                                        To Each Collateral Item In The Prospectus            S4, L4
Property ID                         4        AN          1001-001       Should contain Prospectus ID and property
                                                                        identifier, e.g., 1001-001, 1000-002
Distribution Date                   5        AN          YYYYMMDD       Date Payments  Made To Certificateholders                L5
Cross-Collateralized Loan
 Grouping                           6        AN            Text         All Loans With The Same Value Are Crossed, For
                                                                        example:"X02-1" would be populated in this
                                                                        field for all related loans, "X02-2" would
                                                                        be populS75d for the next group of related loans.
Property Name                       7        AN            Text                                                                 S55
Property Address                    8        AN            Text                                                                 S56
Property City                       9        AN            Text                                                                 S57
Property State                      10       AN             FL                                                                  S58
Property Zip Code                   11       AN           30303                                                                 S59
Property County                     12       AN            Text                                                                 S60
Property Type Code                  13       AN             MF                                                                  S61
Year Built                          14       AN            YYYY                                                                 S64
Year Last Renovated                 15       AN            YYYY
Net Square Feet At Contribution     16    Numeric         25000         RT, IN, WH, OF, MU, OT                                  S62
# Of Units/Beds/Rooms At
 Contribution                       17    Numeric           75          MF, MH, LO,MU, HC, SS                                    S63
Property Status                     18       AN             1           1=FCL, 2=REO, 3=Defeased, 4=Partial Release, 5= Released,
                                                                        6= Same as at Contribution
Allocated Percentage of Loan at
 Contribution                       19    Numeric          0.75         Issuer to allocate loan % attributable to
                                                                        property for multi-property loans
</TABLE>

<PAGE>

                   COMMERCIAL MORTGAGE SECURITIES ASSOCIATION
                              CMSA "PROPERTY" FILE
                              (DATA RECORD LAYOUT)
                             CROSS REFERENCED AS "P"

<TABLE>
<CAPTION>
                                    FIELD                FORMAT                                                          LOAN FIELD
FIELD NAME                          NUMBER     TYPE      EXAMPLE                  DESCRIPTION/COMMENTS                    REFERENCE
<S>                                 <C>      <C>         <C>            <C>                                                  <C>
Current Allocated Percentage        20     Numeric         0.75         Maintained by servicer. If not supplied in by
                                                                        Issuer or Underwriter, use Underwritting
                                                                        NOI or NCF to calculate
Current Allocated Ending
 Scheduled Loan Amount              21     Numeric      5900900.00      Calculation based on Current Allocated Percentage
                                                                        and Current Ending Scheduled Principal Balance
                                                                        (L7) for associated loan.                                L7
Ground Lease (Y/S/N)                22        AN            N           Either Y=Yes, S=Subordinate, N= No ground lease         S74
Total Reserve Balance               23     Numeric       25000.00       For Maintenance, Repairs, & Environmental.              S77
                                                                        (Excludes Tax  & Insurance Escrows).
                                                                        An amount should be printed if
                                                                        the value in Setup File field 77S77 "Y"
Most Recent Appraisal Date          24        AN         YYYYMMDD                                                               L74
Most Recent Appraisal Value         25     Numeric      1000000.00                                                              L75
Date Asset Expected to Be Resolved
 or Foreclosed                      26        AN         YYYYMMDD       Could be different dates for different properties.
                                                                        If in Foreclosure - Expected Date of Foreclosure
                                                                        and if REO - Expected Sale Date.                        L79
Foreclosure Date                    27        AN         YYYYMMDD                                                               L42
REO Date                            28        AN         YYYYMMDD                                                               L43
Most Recent Physical Occupancy      29     Numeric         0.75                                                                 L71
Occupancy As of Date                30        AN         YYYYMMDD       Typically should be the effective date of the
                                                                        Rent Roll
Date Lease Rollover Review          31        AN         YYYYMMDD       Roll over review to be completed every 12 months
% Sq. Feet expiring 1-12 months     32     Numeric         0.2          Apply to Property Types - RT, IN, WH, OF, MU, OT        S62
% Sq. Feet  expiring 13-24 months   33     Numeric         0.2          Apply to Property Types - RT, IN, WH, OF, MU, OT        S62
% Sq. Feet expiring 25-36 months    34     Numeric         0.2          Apply to Property Types - RT, IN, WH, OF, MU, OT        S62
% Sq. Feet  expiring 37-48 months   35     Numeric         0.2          Apply to Property Types - RT, IN, WH, OF, MU, OT        S62
% Sq. Feet  expiring 49-60 months   36     Numeric         0.2          Apply to Property Types - RT, IN, WH, OF, MU, OT        S62
Largest Tenant                      37        AN           Text         For Office, WH, Retail, Industrial, Other or
                                                                        Mixed Use, as applicable
Square Feet of Largest Tenant       38     Numeric        15000
2nd Largest Tenant                  39        AN           Text         For Office, WH, Retail, Industrial, Other or
                                                                        Mixed Use, as applicable
Square Feet of 2nd Largest Tenant   40     Numeric        15000
3rd Largest Tenant                  41        AN           Text         For Office, WH, Retail, Industrial, Other or
                                                                        Mixed Use,  as applicable
Square Feet of 3rd Largest Tenant   42     Numeric        15000
Fiscal Year End Month               43     Numeric          MM          Needed to indicate month ending for borrower's
                                                                        Fiscal Year.  For example : "12"
Contribution Financials As Of Date  44        AN         YYYYMMDD                                                               S72
Revenue At Contribution             45     Numeric      1000000.00      Should match the prospectus if available.
                                                                        At the Property Level                                   S70
Operating Expenses At Contribution  46     Numeric      1000000.00      Should match the prospectus if available.
                                                                        At the Property Level                                   S71
NOI At Contribution                 47     Numeric      1000000.00      Should match the prospectus if available.
                                                                        At the Property Level                                   S65
</TABLE>

<PAGE>

                   COMMERCIAL MORTGAGE SECURITIES ASSOCIATION
                              CMSA "PROPERTY" FILE
                              (DATA RECORD LAYOUT)
                             CROSS REFERENCED AS "P"

<TABLE>
<CAPTION>
                                    FIELD                FORMAT                                                          LOAN FIELD
FIELD NAME                          NUMBER     TYPE      EXAMPLE                  DESCRIPTION/COMMENTS                    REFERENCE
<S>                                 <C>      <C>         <C>            <C>                                                  <C>

DSCR (NOI) At Contribution          48      Numeric         1.5         Should match the prospectus if available.               S66
Appraisal Value At Contribution     49      Numeric      1000000.00                                                             S67
Appraisal Date At Contribution      50         AN         YYYYMMDD                                                              S68
Physical Occupancy At Contribution  51      Numeric         0.9                                                                 S69
Date of Last Inspection             52         AN         YYYYMMDD      Date of last physical site inspection
Preceding Fiscal Year Financial
 As of Date                         53         AN         YYYYMMDD                                                              L58
Preceding Fiscal Year Revenue       54      Numeric      1000000.00                                                             L52
Preceding Fiscal Year Operating
 Expenses                           55      Numeric      1000000.00                                                             L53
Preceding Fiscal Year NOI           56      Numeric      1000000.00                                                             L54
Preceding Fiscal Yr Debt Service
 Amount                             57      Numeric      1000000.00     Calculate using P20(percentage) to get
                                                                        the allocated amount for each property                  L55
Preceding Fiscal Year DSCR (NOI)    58      Numeric         1.3         Uses the property NOI and the allocated
                                                                        debt service amount                                     L56
Preceding Fiscal Year Physical
 Occupancy                          59      Numeric         0.9                                                                 L57
Second Preceding FY Financial
 As of Date                         60         AN         YYYYMMDD                                                              L65
Second Preceding Fiscal Year
 Revenue                            61      Numeric      1000000.00                                                             L59
Second Preceding FY Operating
 Expenses                           62      Numeric      1000000.00                                                             L60
Second Preceding Fiscal Year NOI    63      Numeric      1000000.00                                                             L61
Second Preceding FY Debt
 Service Amount                     64      Numeric      1000000.00     Calculate using P20(percentage) to get
                                                                        the allocated amount for each property                  L62
Second Preceding Fiscal Year
 DSCR (NOI)                         65      Numeric         1.3         Uses the property NOI and the allocated
                                                                        debt service amount                                     L63
Second Preceding FY Physical
 Occupancy                          66      Numeric         0.9                                                                 L64
Property Contribution Date          67         AN         YYYYMMDD      Date Property was contributed                           L85
Most Recent Revenue                 68      Numeric      1000000.00     Most Recent Revenue                                     L66
Most Recent Operating Expenses      69      Numeric      1000000.00     Most Recent Operating Expenses                          L67
Most Recent NOI                     70      Numeric      1000000.00     Most Recent Net Operating Income                        L68
Most Recent Debt Service Amount     71      Numeric      1000000.00     Calculate using P20(percentage) to get the
                                                                        allocated amount for each property                      L69
Most Recent DSCR (NOI)              72      Numeric         2.55        Uses the property NOI and the allocated
                                                                        debt service amount                                     L70
Most Recent Financial As of
 Start Date                         73         AN         YYYYMMDD      Start date used to calculate Most
                                                                        Recent information either YTD or
                                                                        trailing 12 months                                      L72
Most Recent Financial As of
 End Date                           74         AN         YYYYMMDD      End date used to calculate Most Recent information
                                                                        either YTD or trailing 12 months                        L73
Most Recent Financial Indicator     75         AN          T or Y       T= Trailing 12 months Y = Year to Date                  L82
NCF At Contribution                 76      Numeric      1000000.00     Net Cash Flow At Contribution.
                                                                        Should match the prospectus if available.               S83
DSCR (NCF) At Contribution          77      Numeric         1.5         DSCR At Contribution using NCF to calculate.
                                                                        Should match the prospectus if available.               S84
Preceding Fiscal Year NCF           78      Numeric      1000000.00     Preceding Fiscal Year Net Cash Flow related to
                                                                        Financial As of Date P53.                               L92
</TABLE>

<PAGE>

                   COMMERCIAL MORTGAGE SECURITIES ASSOCIATION
                              CMSA "PROPERTY" FILE
                              (DATA RECORD LAYOUT)
                             CROSS REFERENCED AS "P"

<TABLE>
<CAPTION>
                                    FIELD                FORMAT                                                          LOAN FIELD
FIELD NAME                          NUMBER     TYPE      EXAMPLE                  DESCRIPTION/COMMENTS                    REFERENCE
<S>                                 <C>      <C>         <C>            <C>                                                  <C>

Preceding Fiscal Year DSCR (NCF)    79     Numeric          2.55        Preceding Fiscal Yr Debt Service Coverage
                                                                        Ratio using NCF related to Financial As of Date P53.    L93
Second Preceding FY NCF             80     Numeric       1000000.00     Second Preceding Fiscal Year Net Cash Flow
                                                                        related to Financial As of Date P60.                    L94
Second Preceding FY DSCR (NCF)      81     Numeric          2.55        Second Preceding Fiscal Year Debt Service
                                                                        Coverage Ratio using Net Cash Flow related
                                                                        to Financial As of Date P60.                            L95
Most Recent NCF                     82     Numeric       1000000.00     Most Recent Net Cash Flow related to
                                                                        Financial As of Date P74.                               L96
Most Recent DSCR (NCF)              83     Numeric          2.55        Most Recent Debt Service Coverage Ratio
                                                                        using Net Cash Flow related to Financial
                                                                        As of Date P74.                                         L97
NOI/NCF Indicator                   84        AN            Text        Indicates how NOI or Net Cash Flow was
                                                                        calculated should be the same for each
                                                                        financial period.  See NOI/NCF Indicator Legend.        L90
Deferred Maintenance Flag           85        AN             N          Either Y=Yes or N= No, Deferred Maintenance

  PROPERTY TYPES CODE                       NOI/NCF INDICATOR
        LEGEND                                    LEGEND

MF       Multifamily               CMSA        Calculated using CMSA standard
RT       Retail                    PSA         Calculated using a definition given in the PSA
HC       Health Care               U/W         Calculated using the underwriting method
IN       Industrial
WH       Warehouse
MH       Mobile Home Park
OF       Office
MU       Mixed Use
LO       Lodging
SS       Self Storage
OT       Other
SE       Securities

</TABLE>

<PAGE>

                                  ATTACHMENT A:
                   CMSA FINANCIAL FILE - CATEGORY CODE MATRIX
<TABLE>
<CAPTION>
                                                                                       PROPERTY TYPE

                CODE/                                                                 MULTI-       HEALTH
              SORT ORDER           DESCRIPTION                      COMMERCIAL       FAMILY        CARE       LODGING

INCOME

<S>            <C>                <C>                                    <C>            <C>           <C>          <C>

               010GROSRNT         Gross Potential Rent                   o              o            o
               020VACANCY         Less: Vacancy/Collection Loss          o              o            o
               030BASERNT         Base Rent                              o              o
               040EXPREMB         Expense Reimbursement                  o
               050PCTRENT         Percentage Rent                        o
               060ROOMREV         Room Revenue                                                                     o
               070FOODBEV         Food & Beverage Revenues                                                         o
               080PHONE           Telephone Revenue                                                                o
               090OTHDREV         Other Departmental Revenue                                                       o
               100PVTPAY          Private Pay                                                        o
               110MEDCARE         Medicare/Medicaid                                                  o
               120NURSING         Nursing/Medical Income                                             o
               130MEALS           Meals Income                                                       o
               140LAUNDRY         Laundry/Vending Income                                o
               150PARKING         Parking Income                         o              o
               160OTHERIN         Other Income                           o              o            o             o

EXPENSES       270ROOMS           Room (Department)                                                                o
               280FOODBEV         Food & Beverage (Departmental)                                                   o
               290PHONE           Telephone Expenses (Departmental)                                                o
               300OTHDEPT         Other Dept. Expenses                                                             o
               310RETAXES         Real Estate Taxes                      o              o            o             o
               320PROPINS         Property Insurance                     o              o            o             o
               330UTILITI         Utilities                              o              o            o             o
               340REPAIRS         Repairs and Maintenance                o              o            o             o
               350JANITOR         Janitorial                             o
               360FRANCHI         Franchise Fee                                                                    o
               370MANAGEM         Management Fees                        o              o            o             o
               380PAYROLL         Payroll & Benefits                     o              o            o             o
               390MARKETI         Advertising & Marketing                o              o            o             o
               400PROFESS         Professional Fees                      o              o            o             o
               410GENERAL         General and Administrative             o              o            o             o
               420ROOMS           Room Expense - Housekeeping                                        o
               430MEALS           Meal expense                                                       o
               440OTHEREX         Other Expenses                         o              o            o             o
               450GROUNDR         Ground Rent                            o              o            o             o

RESRV & CAPEX  490LEASING         Leasing Commissions                    o
               500TENANTI         Tenant Improvements                    o
               510CAPEX           Capital Expenditures                   o              o            o             o
               520EXCAPEX         Extraordinary Capital Expenditures     o              o            o             o
</TABLE>

    DATA TYPES

       YTD           Current Year - Year to Date
        AN           Annual (prior 12 months' data...fiscal year - audited)
        TR           Trailing 12 months' data
        UB           Underwriting Base Line

 STATEMENT TYPES

       BOR           Borrower's Statement (as submitted)
       ADJ           Adjustments to Borrower's Statement
       NOR           Normalized Statement (to CMSA format)

<PAGE>

                                  ATTACHMENT B:
                       CMSA Financial File Specifications

                                  RECORD LAYOUT

Fields:  Trans ID       From CMSA Loan Setup File, Field #1
         Loan #         From CMSA Property File, Field #2
         Property ID    From CMSA Property File, Field #4, Example 1001-001
         YYYYMM         Financial Statement Beginning Date
         YYYYMM         Financial Statement Ending Date
         Data Type      See attached values
         Stmt Type      See attached values
         Category Code  See attached values
         Amount         Example : 999999.99   Enter positive values except for
                        adjustments, contra accounts or other negative numbers.
Key:     Trans ID
         Loan #
         Property ID    CMSA Property File, P4
         YYYYMM         Financial Statement Ending Date
         Data Type
         Statement Type
         Category Code

                      SAMPLE ASCII PRESENTATION (PREFERRED)

XX97D4, 12768-34,1001-001,199901,199903,YTD,NOR,010GROSRNT,999999.99 XX97D4,
12768-34,1001-001,199901,199903,YTD,NOR,020VACANCY,999999.99 XX97D4,
12768-34,1001-001,199901,199903,YTD,NOR,030BASERNT,999999.99 XX97D4,
12768-34,1001-001,199901,199903,YTD,NOR,160OTHERIN,999999.99 XX97D4,
12768-34,1001-001,199901,199903,YTD,NOR,310RETAXES,999999.99 XX97D4,
12768-34,1001-001,199901,199903,YTD,NOR,320PROPINS,999999.99 XX97D4,
12768-34,1001-001,199901,199903,YTD,NOR,330UTILITI,999999.99 XX97D4,
12768-34,1001-001,199901,199903,YTD,NOR,340REPAIRS,999999.99 XX97D4,
12768-34,1001-001,199901,199903,YTD,NOR,350JANITOR,999999.99 XX97D4,
12768-34,1001-001,199901,199903,YTD,NOR,370MANAGEM,999999.99 XX97D4,
12768-34,1001-001,199901,199903,YTD,NOR,380PAYROLL,999999.99 XX97D4,
12768-34,1001-001,199901,199903,YTD,NOR,390MARKETI,999999.99 XX97D4,
12768-34,1001-001,199901,199903,YTD,NOR,410GENERAL,999999.99 XX97D4,
12768-34,1001-001,199901,199903,YTD,NOR,440OTHEREX,999999.99 XX97D4,
12768-34,1001-001,199901,199903,YTD,NOR,500TENANTI,999999.99 XX97D4,
12768-34,1001-001,199901,199903,YTD,NOR,510CAPEX,999999.99

                         SAMPLE SPREADSHEET PRESENTATION
<TABLE>
<CAPTION>
                                                              BEGIN        ENDING  DATA      STMT
TRANS ID                      LOAN #          PROP ID         YYYYMM       YYYYMM  TYPE      TYPE        CATEGORY          AMOUNT
<S>                           <C>             <C>             <C>           <C>    <C>        <C>        <C>               <C>
XX97D4                        12768-34        1001-001        199901        199903 YTD        NOR        010GROSRNT        999999.99
XX97D4                        12768-34        1001-001        199901        199903 YTD        NOR        020VACANCY        999999.99
XX97D4                        12768-34        1001-001        199901        199903 YTD        NOR        030BASERNT        999999.99
XX97D4                        12768-34        1001-001        199901        199903 YTD        NOR        160OTHERIN        999999.99
XX97D4                        12768-34        1001-001        199901        199903 YTD        NOR        310RETAXES        999999.99
XX97D4                        12768-34        1001-001        199901        199903 YTD        NOR        320PROPINS        999999.99
XX97D4                        12768-34        1001-001        199901        199903 YTD        NOR        330UTILITI        999999.99
XX97D4                        12768-34        1001-001        199901        199903 YTD        NOR        340REPAIRS        999999.99
XX97D4                        12768-34        1001-001        199901        199903 YTD        NOR        350JANITOR        999999.99
XX97D4                        12768-34        1001-001        199901        199903 YTD        NOR        370MANAGEM        999999.99
XX97D4                        12768-34        1001-001        199901        199903 YTD        NOR        380PAYROLL        999999.99
XX97D4                        12768-34        1001-001        199901        199903 YTD        NOR        390MARKETI        999999.99
XX97D4                        12768-34        1001-001        199901        199903 YTD        NOR        410GENERAL        999999.99
XX97D4                        12768-34        1001-001        199901        199903 YTD        NOR        440OTHEREX        999999.99
XX97D4                        12768-34        1001-001        199901        199903 YTD        NOR        500TENANTI        999999.99
XX97D4                        12768-34        1001-001        199901        199903 YTD        NOR        510CAPEX          999999.99
XX97D4                        12768-34        1001-002        199901        199903 YTD        NOR        010GROSRNT        999999.99
XX97D4                        12768-34        1001-002        199901        199903 YTD        NOR        020VACANCY        999999.99
XX97D4                        12768-34        1001-002        199901        199903 YTD        NOR        030BASERNT        999999.99
XX97D4                        12768-34        1001-002        199901        199903 YTD        NOR        160OTHERIN        999999.99
XX97D4                        12768-34        1001-002        199901        199903 YTD        NOR        310RETAXES        999999.99
XX97D4                        12768-34        1001-002        199901        199903 YTD        NOR        320PROPINS        999999.99
XX97D4                        12768-34        1001-002        199901        199903 YTD        NOR        330UTILITI        999999.99
XX97D4                        12768-34        1001-002        199901        199903 YTD        NOR        340REPAIRS        999999.99
XX97D4                        12768-34        1001-002        199901        199903 YTD        NOR        350JANITOR        999999.99
XX97D4                        12768-34        1001-002        199901        199903 YTD        NOR        370MANAGEM        999999.99
XX97D4                        12768-34        1001-002        199901        199903 YTD        NOR        380PAYROLL        999999.99
XX97D4                        12768-34        1001-002        199901        199903 YTD        NOR        390MARKETI        999999.99
XX97D4                        12768-34        1001-002        199901        199903 YTD        NOR        410GENERAL        999999.99
XX97D4                        12768-34        1001-002        199901        199903 YTD        NOR        440OTHEREX        999999.99
XX97D4                        12768-34        1001-002        199901        199903 YTD        NOR        500TENANTI        999999.99
XX97D4                        12768-34        1001-002        199901        199903 YTD        NOR        510CAPEX          999999.99
</TABLE>

<PAGE>

                                   EXHIBIT Y
                             INVESTOR CERTIFICATION

<PAGE>

                             INVESTOR CERTIFICATION

                                                      Date:

LaSalle Bank National Association
135 South LaSalle Street
Chicago, IL  60603

Attention:  Morgan Stanley Dean Witter Capital I Inc., Commercial Mortgage Pass
            Through Certificates, Series 2002 - IQ2

      In accordance with the Pooling and Servicing Agreement, dated as of June
1, 2002 (the "Agreement"), by and among Morgan Stanley Dean Witter Capital I
Inc., as Depositor, Orix Capital Markets, LLC, as Master Servicer, Lend Lease
Asset Management, L.P., as Special Servicer, and LaSalle Bank National
Association, N.A., as Trustee, Paying Agent and Certificate Registrar (the
"Trustee"), with respect to the above referenced certificates (the
"Certificates"), the undersigned hereby certifies and agrees as follows:

1.    The undersigned is a beneficial owner or prospective purchaser of the
      Class ___ Certificates.

2.    The undersigned is requesting access to the Trustee's internet website
      containing certain information (the "Information") and/or is requesting
      the information identified on the schedule attached hereto (also, the
      "information") pursuant to the provisions of the Agreement.

3.    In consideration of the Trustee's disclosure to the undersigned of the
      Information, or access thereto, the undersigned will keep the Information
      confidential (except from such outside persons as are assisting it in
      making an evaluation in connection with purchasing the related
      Certificates, from its accountants and attorneys, and otherwise from such
      governmental or banking authorities or agencies to which the undersigned
      is subject), and such Information, will not, without the prior written
      consent of the Trustee, be otherwise disclosed by the undersigned or by
      its officers, directors, partners, employees, agents or representatives
      (collectively, the "Representative") in any manner whatsoever, in whole or
      in part.

4.    The undersigned will not use or disclose the Information in any manner
      which could result in a violation of any provision of the Securities Act
      of 1933, as amended (the "Securities Act"), or the Securities Exchange Act
      of 1934, as amended, or would require registration of any Certificate
      pursuant to Section 5 of the Securities Act.

5.    The undersigned shall be fully liable for any breach of this agreement by
      itself or any of its Representatives and shall indemnify the Depositor,
      the Trustee and the Trust Fund for any loss, liability or expense incurred
      thereby with respect to any such breach by the undersigned or any its
      Representative.

6.    Capitalized terms used but not defined herein shall have the respective
      meanings assigned thereto in the Agreement.

      IN WITNESS WHEREOF, the undersigned has caused its name to be signed
hereto by its duly authorized officer, as of the day and year written above.

                                       _________________________________________
                                       Beneficial Owner or Prospective Purchaser

                                       By:______________________________________

                                       Title:___________________________________

                                       Company:_________________________________

                                       Phone:___________________________________

<PAGE>

                                    EXHIBIT Z

                                     FORM OF

                            NOTICE AND CERTIFICATION
                      REGARDING DEFEASANCE OF MORTGAGE LOAN

For loans having balance of (a) $20,000,000 or less, and (b) less than or equal
           to 5% of Aggregate Certificate Balance, whichever is less

To:   [Address]
      Attn:

From: _____________________________________, in its capacity
      as Servicer (the "Servicer") under the Pooling and Servicing Agreement
      dated as of __________________ (the "Pooling and Servicing Agreement"),
      among the Servicer, __________________ as Trustee, and others.

Date: _________, 20___

Re:   ____________________________________________.
      Commercial Mortgage Pass-Through Certificates
      Series
      _____________________________________________________________

            Mortgage Loan (the "Mortgage Loan")  identified by loan number _____
on the Mortgage  Loan Schedule  attached to the Pooling and Servicing  Agreement
and heretofore  secured by the Mortgaged  Properties  identified on the Mortgage
Loan Schedule by the following names:____________________

            Reference is made to the Pooling and Servicing  Agreement  described
above.  Capitalized terms used but not defined herein have the meanings assigned
to such terms in the Pooling and Servicing  Agreement.  [NOTE: ALL TERMS IN THIS
CERTIFICATION  MUST BE  CONFORMED  TO TERMS USED IN THE  POOLING  AND  SERVICING
AGREEMENT]

            As Servicer under the Pooling and Servicing Agreement, we hereby:

            1.    Notify you that the Mortgagor has  consummated a defeasance of
                  the Mortgage Loan pursuant to the terms of the Mortgage  Loan,
                  of the type checked below:

                  ____  a full defeasance of the payments scheduled to be due in
                        respect of the entire Principal  Balance of the Mortgage
                        Loan; or

                  ____  a partial defeasance of the payments scheduled to be due
                        in respect of a portion of the Principal  Balance of the
                        Mortgage  Loan  that   represents  ___%  of  the  entire
                        Principal Balance of the Mortgage

                                      Z-1
<PAGE>

                        Loan and,  under the  Mortgage,  has an  allocated  loan
                        amount  of  $____________  or  _______%  of  the  entire
                        Principal Balance;

            2.    CERTIFY THAT EACH OF THE  FOLLOWING IS TRUE,  SUBJECT TO THOSE
                  EXCEPTIONS  SET  FORTH  WITH  EXPLANATORY  NOTES ON  EXHIBIT A
                  HERETO,   WHICH   EXCEPTIONS  THE  SERVICER  HAS   DETERMINED,
                  CONSISTENT WITH THE SERVICING STANDARD,  WILL HAVE NO MATERIAL
                  ADVERSE   EFFECT  ON  THE  MORTGAGE  LOAN  OR  THE  DEFEASANCE
                  TRANSACTION:

                  A.    THE MORTGAGE LOAN DOCUMENTS  PERMIT THE DEFEASANCE,  AND
                        THE  TERMS  AND  CONDITIONS  FOR  DEFEASANCE   SPECIFIED
                        THEREIN  WERE  SATISFIED  IN ALL  MATERIAL  RESPECTS  IN
                        COMPLETING THE DEFEASANCE.

                  B.    THE DEFEASANCE WAS CONSUMMATED ON __________, 20__.

                  C.    THE DEFEASANCE  COLLATERAL  CONSISTS OF SECURITIES  THAT
                        (I)  CONSTITUTE  "GOVERNMENT  SECURITIES"  AS DEFINED IN
                        SECTION  2(A)(16) OF THE INVESTMENT  COMPANY ACT OF 1940
                        AS  AMENDED  (15  U.S.C.  80A-1),  (II)  ARE  LISTED  AS
                        "QUALIFIED   INVESTMENTS  FOR  `AAA'  FINANCINGS"  UNDER
                        PARAGRAPHS 1, 2 OR 3 OF "CASH FLOW APPROACH" IN STANDARD
                        & POOR'S PUBLIC FINANCE CRITERIA 2000, AS AMENDED TO THE
                        DATE  OF  THE  DEFEASANCE,  (III)  ARE  RATED  `AAA'  BY
                        STANDARD  & POOR'S,  (IV) IF THEY  INCLUDE  A  PRINCIPAL
                        OBLIGATION, THE PRINCIPAL DUE AT MATURITY CANNOT VARY OR
                        CHANGE,  AND (V) ARE NOT SUBJECT TO PREPAYMENT,  CALL OR
                        EARLY    REDEMPTION.    SUCH    SECURITIES    HAVE   THE
                        CHARACTERISTICS SET FORTH BELOW:

                         CUSIP RATE MAT PAY DATES ISSUED

                  D.    THE  SERVICER  RECEIVED  AN  OPINION  OF  COUNSEL  (FROM
                        COUNSEL  APPROVED  BY SERVICER  IN  ACCORDANCE  WITH THE
                        SERVICING  STANDARD) THAT THE DEFEASANCE WILL NOT RESULT
                        IN AN ADVERSE REMIC EVENT.

                  E.    THE SERVICER  DETERMINED THAT THE DEFEASANCE  COLLATERAL
                        WILL BE OWNED BY AN ENTITY (THE

                                      Z-2
<PAGE>

                        "DEFEASANCE  OBLIGOR") AS TO WHICH ONE OF THE STATEMENTS
                        CHECKED BELOW IS TRUE:

                  ____  the related  Mortgagor was a  Single-Purpose  Entity (as
                        defined in Standard & Poor's Structured  Finance Ratings
                        Real Estate Finance Criteria,  as amended to the date of
                        the defeasance  (the "S&P  Criteria")) as of the date of
                        the defeasance,  and after the defeasance owns no assets
                        other than the  defeasance  collateral and real property
                        securing Mortgage Loans included in the pool.

                  ____  the related Mortgagor designated a Single-Purpose Entity
                        (as defined in the S&P  Criteria) to own the  defeasance
                        collateral; or

                  ____  the  Servicer  designated  a  Single-Purpose  Entity (as
                        defined in the S&P Criteria) established for the benefit
                        of the Trust to own the defeasance collateral.

                  F.    THE SERVICER  RECEIVED A BROKER OR SIMILAR  CONFIRMATION
                        OF THE  CREDIT,  OR THE  ACCOUNTANT'S  LETTER  DESCRIBED
                        BELOW CONTAINED  STATEMENTS THAT IT REVIEWED A BROKER OR
                        SIMILAR  CONFIRMATION  OF THE CREDIT,  OF THE DEFEASANCE
                        COLLATERAL TO AN ELIGIBLE ACCOUNT (AS DEFINED IN THE S&P
                        CRITERIA) IN THE NAME OF THE DEFEASANCE  OBLIGOR,  WHICH
                        ACCOUNT IS  MAINTAINED  AS A  SECURITIES  ACCOUNT BY THE
                        TRUSTEE ACTING AS A SECURITIES INTERMEDIARY.

                  G.    AS SECURITIES INTERMEDIARY, TRUSTEE IS OBLIGATED TO MAKE
                        THE  SCHEDULED  PAYMENTS ON THE  MORTGAGE  LOAN FROM THE
                        PROCEEDS OF THE  DEFEASANCE  COLLATERAL  DIRECTLY TO THE
                        SERVICER'S  COLLECTION ACCOUNT IN THE AMOUNTS AND ON THE
                        DATES  SPECIFIED IN THE MORTGAGE LOAN DOCUMENTS OR, IN A
                        PARTIAL  DEFEASANCE,   THE  PORTION  OF  SUCH  SCHEDULED
                        PAYMENTS ATTRIBUTED TO THE ALLOCATED LOAN AMOUNT FOR THE
                        REAL  PROPERTY  DEFEASED,  INCREASED  BY ANY  DEFEASANCE
                        PREMIUM  SPECIFIED IN THE MORTGAGE LOAN  DOCUMENTS  (THE
                        "SCHEDULED PAYMENTS").

                  H.    THE  SERVICER   RECEIVED  FROM  THE  MORTGAGOR   WRITTEN
                        CONFIRMATION FROM A FIRM OF INDEPENDENT CERTIFIED PUBLIC
                        ACCOUNTANTS, WHO WERE APPROVED BY SERVICER IN ACCORDANCE
                        WITH THE SERVICING  STANDARD,  STATING THAT

                                      Z-3
<PAGE>

                        (I) REVENUES FROM  PRINCIPAL AND INTEREST  PAYMENTS MADE
                        ON  THE  DEFEASANCE   COLLATERAL  (WITHOUT  TAKING  INTO
                        ACCOUNT ANY EARNINGS ON  REINVESTMENT  OF SUCH REVENUES)
                        WILL BE  SUFFICIENT  TO TIMELY PAY EACH OF THE SCHEDULED
                        PAYMENTS AFTER THE  DEFEASANCE  INCLUDING THE PAYMENT IN
                        FULL OF THE  MORTGAGE  LOAN  (OR THE  ALLOCATED  PORTION
                        THEREOF IN CONNECTION WITH A PARTIAL  DEFEASANCE) ON ITS
                        MATURITY  DATE (OR,  IN THE CASE OF AN ARD LOAN,  ON ITS
                        ANTICIPATED  REPAYMENT DATE), (II) THE REVENUES RECEIVED
                        IN ANY  MONTH  FROM THE  DEFEASANCE  COLLATERAL  WILL BE
                        APPLIED  TO MAKE  SCHEDULED  PAYMENTS  WITHIN  FOUR  (4)
                        MONTHS  AFTER THE DATE OF  RECEIPT,  AND (III)  INTEREST
                        INCOME FROM THE DEFEASANCE  COLLATERAL TO THE DEFEASANCE
                        OBLIGOR IN ANY  CALENDAR  OR FISCAL YEAR WILL NOT EXCEED
                        SUCH  DEFEASANCE  OBLIGOR'S  INTEREST  EXPENSE  FOR  THE
                        MORTGAGE  LOAN (OR THE  ALLOCATED  PORTION  THEREOF IN A
                        PARTIAL DEFEASANCE) FOR SUCH YEAR.

                  I.    THE SERVICER  RECEIVED  OPINIONS FROM COUNSEL,  WHO WERE
                        APPROVED BY SERVICER IN  ACCORDANCE  WITH THE  SERVICING
                        STANDARD,  THAT  (I)  THE  AGREEMENTS  EXECUTED  BY  THE
                        MORTGAGOR  AND/OR THE  DEFEASANCE  OBLIGOR IN CONNECTION
                        WITH THE  DEFEASANCE  ARE  ENFORCEABLE  AGAINST  THEM IN
                        ACCORDANCE  WITH THEIR TERMS,  AND (II) THE TRUSTEE WILL
                        HAVE A PERFECTED,  FIRST PRIORITY  SECURITY  INTEREST IN
                        THE DEFEASANCE COLLATERAL DESCRIBED ABOVE.

                  J.    THE   AGREEMENTS   EXECUTED  IN   CONNECTION   WITH  THE
                        DEFEASANCE  (I) PERMIT  REINVESTMENT  OF PROCEEDS OF THE
                        DEFEASANCE  COLLATERAL ONLY IN PERMITTED INVESTMENTS (AS
                        DEFINED IN THE S&P  CRITERIA),  (II)  PERMIT  RELEASE OF
                        SURPLUS   DEFEASANCE    COLLATERAL   AND   EARNINGS   ON
                        REINVESTMENT TO THE DEFEASANCE  OBLIGOR OR THE MORTGAGOR
                        ONLY AFTER THE MORTGAGE  LOAN HAS BEEN PAID IN FULL,  IF
                        ANY  SUCH  RELEASE  IS  PERMITTED,  (III)  PROHIBIT  ANY
                        SUBORDINATE LIENS AGAINST THE DEFEASANCE COLLATERAL, AND
                        (IV)  PROVIDE FOR PAYMENT  FROM  SOURCES  OTHER THAN THE
                        DEFEASANCE  COLLATERAL OR OTHER ASSETS OF THE DEFEASANCE
                        OBLIGOR OF ALL FEES

                                      Z-4
<PAGE>

                        AND  EXPENSES  OF  THE   SECURITIES   INTERMEDIARY   FOR
                        ADMINISTERING THE DEFEASANCE AND THE SECURITIES  ACCOUNT
                        AND ALL FEES AND EXPENSES OF  MAINTAINING  THE EXISTENCE
                        OF THE DEFEASANCE OBLIGOR.

                  K.    THE ENTIRE PRINCIPAL  BALANCE OF THE MORTGAGE LOAN AS OF
                        THE DATE OF DEFEASANCE WAS $___________  [$20,000,000 OR
                        LESS  OR  LESS  THAN  FIVE  PERCENT  OF  POOL   BALANCE,
                        WHICHEVER  IS  LESS]  WHICH  IS  LESS  THAN  5%  OF  THE
                        AGGREGATE  CERTIFICATE BALANCE OF THE CERTIFICATES AS OF
                        THE  DATE OF THE  MOST  RECENT  PAYING  AGENT'S  MONTHLY
                        CERTIFICATEHOLDER  REPORT  RECEIVED BY US (THE  "CURRENT
                        REPORT").

                  L.    THE DEFEASANCE DESCRIBED HEREIN, TOGETHER WITH ALL PRIOR
                        AND SIMULTANEOUS  DEFEASANCES OF MORTGAGE LOANS,  BRINGS
                        THE TOTAL OF ALL FULLY AND PARTIALLY  DEFEASED  MORTGAGE
                        LOANS TO  $__________________,  WHICH IS  _____%  OF THE
                        AGGREGATE  CERTIFICATE BALANCE OF THE CERTIFICATES AS OF
                        THE DATE OF THE CURRENT REPORT.

            3.    CERTIFY  THAT,  IN ADDITION  TO THE  FOREGOING,  SERVICER  HAS
                  IMPOSED SUCH ADDITIONAL CONDITIONS TO THE DEFEASANCE,  SUBJECT
                  TO THE LIMITATIONS IMPOSED BY THE MORTGAGE LOAN DOCUMENTS,  AS
                  ARE CONSISTENT WITH THE SERVICING STANDARD.

            4.    CERTIFY  THAT  EXHIBIT  B  HERETO  IS A LIST  OF THE  MATERIAL
                  AGREEMENTS,  INSTRUMENTS,  ORGANIZATIONAL  DOCUMENTS  FOR  THE
                  DEFEASANCE  OBLIGOR,  AND OPINIONS OF COUNSEL AND  INDEPENDENT
                  ACCOUNTANTS  EXECUTED  AND  DELIVERED IN  CONNECTION  WITH THE
                  DEFEASANCE  DESCRIBED  ABOVE AND THAT  ORIGINALS  OR COPIES OF
                  SUCH   AGREEMENTS,   INSTRUMENTS   AND   OPINIONS   HAVE  BEEN
                  TRANSMITTED  TO THE  TRUSTEE  FOR  PLACEMENT  IN  THE  RELATED
                  MORTGAGE FILE OR, TO THE EXTENT NOT REQUIRED TO BE PART OF THE
                  RELATED  MORTGAGE  FILE, ARE IN THE POSSESSION OF THE SERVICER
                  AS PART OF THE SERVICER'S MORTGAGE FILE.

            5.    CERTIFY AND CONFIRM THAT THE DETERMINATIONS AND CERTIFICATIONS
                  DESCRIBED ABOVE WERE RENDERED IN ACCORDANCE WITH THE SERVICING
                  STANDARD SET FORTH

                                      Z-5
<PAGE>

                  IN,  AND THE OTHER  APPLICABLE  TERMS AND  CONDITIONS  OF, THE
                  POOLING AND SERVICING AGREEMENT.

            6.    CERTIFY THAT THE INDIVIDUAL  UNDER WHOSE HAND THE SERVICER HAS
                  CAUSED  THIS  NOTICE  AND  CERTIFICATION  TO BE  EXECUTED  DID
                  CONSTITUTE  A  SERVICING   OFFICER  AS  OF  THE  DATE  OF  THE
                  DEFEASANCE DESCRIBED ABOVE.

            7.    AGREE TO  PROVIDE  COPIES OF ALL ITEMS  LISTED IN EXHIBIT B TO
                  YOU UPON REQUEST.

            IN  WITNESS  WHEREOF,  the  Servicer  has  caused  this  Notice  and
Certification to be executed as of the date captioned above.

                                       SERVICER:  ORIX Capital Markets, LLC

                                       By:____________________________________
                                          Name:
                                          Title:

                                      Z-6
<PAGE>

                                   SCHEDULE I

                               JHREF LOAN SCHEDULE

<TABLE>
<CAPTION>
LOAN POOL  MORTGAGE LOAN                                                                                 ORIGINAL     CURRENT
NO         SELLER        PROPERTY NAME                        CITY              STATE     ZIP CODE       BALANCE      BALANCE
<C>        <C>           <C>                                  <C>               <C>         <C>        <C>          <C>
27         JHREF         1750 K Street, NW                    Washington        DC          20006      $26,000,000  $25,957,671
35         JHREF         BJ's Wholesale Club                  Paramus           NJ          07652      $14,700,000  $14,639,046
43         JHREF         Preston Center Plaza                 Dallas            TX          75225       $9,200,000   $9,200,000
49         JHREF         Cooper Standard Automotive Building  Novi              MI          48375       $8,200,000   $8,136,863
56         JHREF         Strouds Building                     City of Industry  CA          91789       $7,628,750   $7,628,750
57         JHREF         Scottsdale Executive Villas          Scottsdale        AZ          85251       $7,600,000   $7,584,986
58         JHREF         BJ's Wholesale Club                  Orlando           FL          32825       $7,600,000   $7,477,667
67         JHREF         Lost Dutchman RV Park                Apache Junction   AZ          85220       $6,000,000   $5,764,598
88         JHREF         Speedway Square Shopping Center      Tucson            AZ          85712       $4,125,000   $4,119,744
89         JHREF         230 Newport Center                   Newport Beach     CA          92660       $4,075,000   $4,075,000
94         JHREF         Best Western Beach Resort Hotel      Fort Myers Beach  FL          33931       $4,100,000   $3,682,237
101        JHREF         Staples/Comp USA                     Brighton          MA          02135       $3,510,000   $3,187,163
102        JHREF         Walgreen's Plaza                     Arlington         MA          02174       $3,415,000   $3,100,900
108        JHREF         Northern Business Center             Phoenix           AZ          85021       $2,800,000   $2,796,248
113        JHREF         Northpoint Trade Center, Phase II    Fort Worth        TX          76106       $2,550,000   $2,547,654
</TABLE>

LOAN POOL
NO         MASTER FEE  PRIMARY FEE  SUB-SERVICING FEE

27            5.00        7.43            0.00
35            5.00        7.43            0.00
43            5.00        7.43            0.00
49            5.00        7.43            0.00
56            5.00        7.43            0.00
57            5.00        7.43            0.00
58            5.00        7.43            0.00
67            5.00        7.43            0.00
88            5.00        7.43            0.00
89            5.00        7.43            0.00
94            5.00        7.43            0.00
101           5.00        7.43            0.00
102           5.00        7.43            0.00
108           5.00        7.43            0.00
113           5.00        7.43            0.00

<PAGE>

                                   SCHEDULE II

                              MSDWMC LOAN SCHEDULE

<TABLE>
<CAPTION>
LOAN POOL  MORTGAGE LOAN                                                                                 ORIGINAL     CURRENT
NO         SELLER        PROPERTY NAME                        CITY              STATE     ZIP CODE       BALANCE      BALANCE
<C>        <C>          <C>                                   <C>               <C>         <C>        <C>          <C>
1          MSDWMC       Woodfield Mall                        Schaumburg        IL          60173      $62,000,000  $61,909,944
2          MSDWMC       One Seaport Plaza                     New York City     NY          10038      $61,000,000  $61,000,000
4          MSDWMC       ARC Portfolio 4 - Harmony Road        Fort Collins      CO          80525      $13,951,677  $13,951,677
5          MSDWMC       ARC Portfolio 4 - Stoneybrook         Greeley           CO          80631       $9,986,222   $9,986,222
6          MSDWMC       ARC Portfolio 4 - Siouxland Estates   South Sioux City  NE          68776       $4,041,130   $4,041,130
7          MSDWMC       ARC Portfolio 4 - Chalet City         Crowley           TX          76036       $3,841,292   $3,841,292
8          MSDWMC       ARC Portfolio 4 - Denton Falls        Denton            TX          76201       $3,714,512   $3,714,512
9          MSDWMC       ARC Portfolio 4 - The Woodlands       Wichita           KS          67217       $2,927,648   $2,927,648
10         MSDWMC       ARC Portfolio 4 - Northern Hills      Springdale        AR          72764       $2,345,619   $2,345,619
11         MSDWMC       ARC Portfolio 4 - Western Park        Fayetteville      AR          72704       $1,642,068   $1,642,068
12         MSDWMC       ARC Portfolio 4 - Oak Glen            Fayetteville      AR          72704       $1,147,093   $1,147,093
13         MSDWMC       ARC Portfolio 4 - Vogel Manor         Arnold            MO          63010       $1,056,092   $1,056,092
14         MSDWMC       ARC Portfolio 4 - Bush Ranch          House Springs     MO          63049         $767,689     $767,689
15         MSDWMC       ARC Portfolio 4 - Hidden Acres        Arnold            MO          63010         $447,174     $447,174
45         MSDWMC       PW Pipe-Tacoma, WA                    Tacoma            WA          98421       $2,730,000   $2,725,164
46         MSDWMC       PW Pipe-West Jordan, UT               West Jordan       UT          84088       $2,130,000   $2,126,227
47         MSDWMC       PW Pipe-Perris, CA                    Perris            CA          92570       $1,690,000   $1,687,006
48         MSDWMC       PW Pipe-Eugene, OR                    Eugene            OR          97401       $1,650,000   $1,647,077
64         MSDWMC       Meadowbrook Village                   York              PA          17402       $6,400,000   $6,377,331
</TABLE>

LOAN POOL
NO         MASTER FEE  PRIMARY FEE  SUB-SERVICING FEE

1            2.00         0.00            0.00
2            5.00         0.00            0.00
4            5.00         0.00            0.00
5            5.00         0.00            0.00
6            5.00         0.00            0.00
7            5.00         0.00            0.00
8            5.00         0.00            0.00
9            5.00         0.00            0.00
10           5.00         0.00            0.00
11           5.00         0.00            0.00
12           5.00         0.00            0.00
13           5.00         0.00            0.00
14           5.00         0.00            0.00
15           5.00         0.00            0.00
45           5.00         0.00            0.00
46           5.00         0.00            0.00
47           5.00         0.00            0.00
48           5.00         0.00            0.00
64           5.00         0.00            0.00

<PAGE>

                                  SCHEDULE III

                             PRINCIPAL LOAN SCHEDULE

<TABLE>
<CAPTION>
LOAN POOL  MORTGAGE LOAN                                                                                   ORIGINAL       CURRENT
NO         SELLER        PROPERTY NAME                            CITY              STATE    ZIP CODE      BALANCE        BALANCE
<C>        <C>          <C>                                       <C>                 <C>      <C>        <C>           <C>
33         PS           Four Points Business Park                 Kearny Mesa         CA       92123      $16,250,000   $16,250,000
34         PS           854 Golf Lane                             Bensenville         IL       60106      $15,200,000   $14,788,969
36         PS           Mackenzie Pointe                          Shrewsbury          MO       63119      $14,250,000   $14,064,426
38         PS           Loehmann's Plaza                          Bellevue            WA       98004      $13,500,000   $10,693,773
39         PS           Lake City Center                          Seattle             WA       98125       $3,500,000    $2,772,450
42         PS           Woodman Valley Shopping Center            Colorado Springs    CO       80918       $9,800,000    $9,669,554
50         PS           The Maggitti Building                     King of Prussia     PA       19482       $5,937,500    $4,745,711
51         PS           300 Hansen Access Road                    King of Prussia     PA       19406       $3,562,500    $2,847,426
52         PS           The Maggitti Building                     King of Prussia     PA       19482         $468,750      $263,104
53         PS           300 Hansen Access Road                    King of Prussia     PA       19406         $281,250      $157,863
60         PS           Bechtel Office Building                   Englewood           CO       80110       $7,000,000    $6,744,224
61         PS           Morristown Plaza                          Morristown          NJ       07960       $7,300,000    $6,412,981
69         PS           Lakewood II                               Smyrna              GA       30080       $7,000,000    $5,479,151
79         PS           Foxborough Business Center                Foxborough          MA       02035       $4,550,000    $4,401,131
80         PS           Milliken Airport Center                   Ontario             CA       91761       $4,850,000    $4,373,906
81         PS           333 West 45th Street                      Munster             IN       46321       $4,500,000    $4,325,990
82         PS           2120-2124 Barrett Park Dr.                Kennesaw            GA       30144       $3,608,283    $2,773,298
83         PS           1701 Oakbrook Drive                       Norcross            GA       30093       $1,036,784      $796,864
84         PS           4187-4199 Pleasantdale Rd                 Doralville          GA       30340         $954,933      $733,954
85         PS           205 Chubb Avenue                          Lyndhurst           NJ       07071       $4,800,000    $4,237,798
86         PS           Powder Springs Valley Shopping Center     Marietta            GA       30060       $4,400,000    $4,222,259
90         PS           16750 Vincennes Avenue                    South Holland       IL       60473       $4,200,000    $4,054,251
91         PS           10420 Bubb Road                           Cupertino           CA       95014       $4,100,000    $3,989,082
92         PS           Menlo Business Park                       San Jose            CA       95131       $4,500,000    $3,875,743
93         PS           MarkWest Office Building                  Englewood           CO       80110       $3,975,000    $3,854,024
95         PS           Maitland Professional Office Building II  Maitland            FL       32751       $3,750,000    $3,652,221
96         PS           Park Ave Safeway Retail Center            Denver              CO       80202       $4,400,000    $3,484,260
103        PS           300 Chubb Avenue                          Lyndhurst           NJ       07071       $3,500,000    $3,096,781
106        PS           Winn Dixie Shopping Center                Jacksonville        FL       32208       $3,300,000    $2,916,463
110        PS           Rock Creek Apartments                     Spokane             WA       99208       $3,200,000    $2,756,008
114        PS           Gwinnet 316 Phase I                       Lawrenceville       GA       30245       $3,000,000    $2,516,462
115        PS           Roseville Business Commons                Roseville           MN       55113       $3,250,000    $2,512,685
116        PS           Lightolier Building                       Edison              NJ       08817       $3,000,000    $2,511,461
119        PS           Gwinnett 316 Office Park                  Lawrenceville       GA       30245       $2,148,000    $1,764,174
120        PS           Gunderson Detmer                          Menlo Park          CA       94025       $2,200,000    $1,636,477
126        PS           Federal Express Building                  Littleton           CO       80121       $1,000,000      $551,863
</TABLE>

LOAN POOL
NO         MASTER FEE  PRIMARY FEE  SUB-SERVICING FEE

33            5.00       10.50          0.00
34            5.00       10.50          0.00
36            5.00       10.50          0.00
38            5.00       10.50          0.00
39            5.00       10.50          0.00
42            5.00       10.50          0.00
50            5.00       10.50          0.00
51            5.00       10.50          0.00
52            5.00       10.50          0.00
53            5.00       10.50          0.00
60            5.00       10.50          0.00
61            5.00       10.50          0.00
69            5.00       10.50          0.00
79            5.00       10.50          0.00
80            5.00       10.50          0.00
81            5.00       10.50          0.00
82            5.00       10.50          0.00
83            5.00       10.50          0.00
84            5.00       10.50          0.00
85            5.00       10.50          0.00
86            5.00       10.50          0.00
90            5.00       10.50          0.00
91            5.00       10.50          0.00
92            5.00       10.50          0.00
93            5.00       10.50          0.00
95            5.00       10.50          0.00
96            5.00       10.50          0.00
103           5.00       10.50          0.00
106           5.00       10.50          0.00
110           5.00       10.50          0.00
114           5.00       10.50          0.00
115           5.00       10.50          0.00
116           5.00       10.50          0.00
119           5.00       10.50          0.00
120           5.00       10.50          0.00
126           5.00       10.50          0.00

<PAGE>

                                   SCHEDULE IV

                            STATE FARM LOAN SCHEDULE

<TABLE>
<CAPTION>
LOAN POOL  MORTGAGE LOAN                                                                                   ORIGINAL       CURRENT
NO         SELLER        PROPERTY NAME                            CITY              STATE    ZIP CODE      BALANCE        BALANCE
<C>        <C>          <C>                                       <C>                 <C>      <C>        <C>           <C>
3          SF           Fayette Pavilion Shopping Center          Fayetteville        GA       30214      $52,500,000   $49,178,071
16         SF           The Centre at Deane Hill                  Knoxville           TN       37919      $32,000,000   $30,495,655
17         SF           Ballas Medical Office Building            St. Louis           MO       63131       $4,920,000    $4,273,678
18         SF           Baxter Office Building                    Chesterfield        MO       63017       $4,160,000    $3,613,528
19         SF           Woodcrest Plaza                           St. Louis           MO       63141       $4,135,000    $3,591,793
20         SF           Chapel Hill II                            Town & Country      MO       63017       $4,050,000    $3,517,972
21         SF           Westchase Park                            St. Louis           MO       63141       $3,210,000    $2,788,296
22         SF           Woodsmill 40 Medical Center               St. Louis           MO       63017       $3,000,000    $2,639,646
23         SF           Town & Country Medical Office Building    St. Louis           MO       63131       $2,210,000    $1,919,720
24         SF           Spirit Business Center South              Chesterfield        MO       63005       $1,530,000    $1,328,970
25         SF           Spirit Business Center North              Chesterfield        MO       63005       $1,280,000    $1,111,801
26         SF           Spirit Business Center                    Chesterfield        MO       63005       $1,235,000    $1,072,780
37         SF           Tesoro Building                           San Antonio         TX       78216      $14,000,000   $13,475,273
44         SF           Park Center                               Fort Lauderdale     FL       33309       $9,000,000    $8,380,540
54         SF           Research Interchange                      Austin              TX       78758       $8,200,000    $7,974,238
59         SF           Tempe-Southern Business Center            Tempe               AZ       85282       $7,385,000    $6,998,418
62         SF           McLean Ridge III                          White Marsh         MD       21236       $3,700,000    $3,372,091
63         SF           McLean Ridge IV                           White Marsh         MD       21236       $3,300,000    $3,007,532
65         SF           Governor Morris Office Center             Morris Township     NJ       07960       $6,300,000    $5,906,635
66         SF           Abbott's Bridge Station Shopping Center   Duluth              GA       30097       $6,375,000    $5,810,956
68         SF           American Plaza I                          White Marsh         MD       21236       $6,100,000    $5,505,542
70         SF           Admiral's Crossing Shopping Center        Jupiter             FL       33458       $5,750,000    $5,469,308
72         SF           McLean Ridge I                            White Marsh         MD       21236       $3,350,000    $2,996,216
73         SF           McLean Ridge II                           White Marsh         MD       21236       $2,650,000    $2,370,137
74         SF           Winn Dixie                                Tamarac             FL       33321       $5,600,000    $5,258,031
75         SF           2 Goodyear Building                       Irvine              CA       92618       $5,415,000    $5,131,556
76         SF           I-370 Warehouse                           Gaithersburg        MD       20877       $6,500,000    $5,064,845
77         SF           Sinclair Business Park                    Milpitas            CA       95035       $4,891,447    $4,661,816
78         SF           Hi-Tech I & 2                             White Marsh         MD       21236       $5,000,000    $4,512,769
87         SF           Road Runner Sports Facility               San Diego           CA       92111       $4,400,000    $4,217,077
97         SF           Oak Hill Place                            Pawtucket           RI       02860       $4,000,000    $3,399,307
98         SF           Character Collectibles Building           Ontario             CA       91761       $3,400,000    $3,370,101
99         SF           Kenmore Rite Aid Store                    Kenmore             WA       98028       $3,575,000    $3,276,246
100        SF           Bristol Office Building                   West Des Moines     IA       50266       $3,450,000    $3,238,553
104        SF           Normandy Square Shopping Center           Jacksonville        FL       32221       $3,500,000    $3,045,531
105        SF           Pecos and Post I Commerce Center          Las Vegas           NV       89120       $3,075,000    $2,918,766
107        SF           Rite Aid Drugstore - Monroe               Monroe              WA       98272       $3,100,000    $2,797,852
109        SF           Cypress Plaza                             Fort Lauderdale     FL       33309       $2,975,000    $2,770,218
111        SF           Rite Aid & Branch Banking and Trust       Chesapeake          VA       23320       $3,000,000    $2,734,124
112        SF           Wilson Grove Village Shopping Center      Mint Hill           NC       28227       $3,000,000    $2,686,460
117        SF           Winn Dixie Marketplace                    Seminole            FL       33777       $2,400,000    $1,988,587
118        SF           Winn-Dixie (#663)                         Winter Haven        FL       33880       $2,450,000    $1,996,688
121        SF           Colorado Club Office Building             Denver              CO       80222       $2,000,000    $1,443,617
122        SF           Hacienda & Polaris Business Center        Las Vegas           NV       89118       $1,480,000    $1,402,544
123        SF           Eckerd Drugs                              Mint Hill           NC       28227       $1,400,000    $1,253,698
124        SF           Winn Dixie Supermarket #1643              Jeffersonville      IN       47130       $1,500,000    $1,235,972
125        SF           Winn-Dixie - Kingsland                    Kingsland           GA       31548       $1,575,000    $1,203,648
</TABLE>

LOAN POOL
NO         MASTER FEE  PRIMARY FEE  SUB-SERVICING FEE

3             5.00        0.00           2.00
16            5.00        0.00           3.00
17            5.00        0.00           6.00
18            5.00        0.00           6.00
19            5.00        0.00           6.00
20            5.00        0.00           6.00
21            5.00        0.00           6.00
22            5.00        0.00          10.00
23            5.00        0.00           6.00
24            5.00        0.00           6.00
25            5.00        0.00           6.00
26            5.00        0.00           6.00
37            5.00        0.00           7.00
44            5.00        0.00           8.00
54            5.00        0.00           8.00
59            5.00        0.00           8.50
62            5.00        0.00           8.00
63            5.00        0.00           8.00
65            5.00        0.00           0.00
66            5.00        0.00           9.00
68            5.00        0.00           9.00
70            5.00        0.00           9.00
72            5.00        0.00           9.00
73            5.00        0.00           9.00
74            5.00        0.00           9.00
75            5.00        0.00           9.00
76            5.00        0.00           9.00
77            5.00        0.00           9.60
78            5.00        0.00          10.00
87            5.00        0.00          10.00
97            5.00        0.00          10.00
98            5.00        0.00          11.00
99            5.00        0.00          10.70
100           5.00        0.00          10.00
104           5.00        0.00          10.00
105           5.00        0.00          11.00
107           5.00        0.00          11.00
109           5.00        0.00          10.00
111           5.00        0.00          10.00
112           5.00        0.00          10.00
117           5.00        0.00          11.80
118           5.00        0.00          11.70
121           5.00        0.00          12.50
122           5.00        0.00          12.50
123           5.00        0.00          10.00
124           5.00        0.00          12.50
125           5.00        0.00          12.50

<PAGE>

                                   SCHEDULE V

                               TIAA LOAN SCHEDULE

<TABLE>
<CAPTION>
LOAN POOL  MORTGAGE LOAN                                                                             ORIGINAL       CURRENT
NO         SELLER        PROPERTY NAME                        CITY            STATE    ZIP CODE      BALANCE        BALANCE
<C>        <C>          <C>                                   <C>             <C>       <C>        <C>           <C>
28         TIAA         Commerce Park Southwest               Stafford        TX        77477       $8,000,000    $7,914,209
29         TIAA         Commerce Park Northwest               Houston         TX        77040       $6,142,857    $6,076,982
30         TIAA         Commerce Park Westchase               Houston         TX        77042       $5,500,000    $5,441,018
31         TIAA         Commerce Park Medical Center          Houston         TX        77054       $2,357,143    $2,331,866
32         TIAA         Blue Bell Plaza                       Blue Bell       PA        19422      $18,200,000   $18,042,182
40         TIAA         Argonaut Shopping Center              Saratoga        CA        95070      $12,100,000   $11,946,885
41         TIAA         The Retreat At Westchase              Houston         TX        77042      $10,000,000    $9,919,844
55         TIAA         Centex Office Center                  Plantation      FL        33324       $8,000,000    $7,950,897
71         TIAA         Fry's Plaza Shopping Center           Glendale        AZ        85303       $5,400,000    $5,377,609
</TABLE>

LOAN POOL
NO         MASTER FEE  PRIMARY FEE  SUB-SERVICING FEE

28            5.00        3.00           5.00
29            5.00        3.00           5.00
30            5.00        3.00           5.00
31            5.00        3.00           5.00
32            5.00        3.00           5.00
40            5.00        3.00           5.00
41            5.00        3.00           5.00
55            5.00        3.00           5.00
71            5.00        3.00           5.00

<PAGE>

                                   SCHEDULE VI

             LIST OF ESCROW ACCOUNTS NOT CURRENTLY ELIGIBLE ACCOUNTS
                                (SECTION 8.3(E))

JOHN HANCOCK REAL ESTATE FINANCE, INC.

None

MORGAN STANLEY DEAN WITTER MORTGAGE CAPITAL INC.

None

PRINCIPAL SILVER, LLC

None

STATE FARM LIFE INSURANCE COMPANY

None

TEACHERS INSURANCE AND ANNUITY ASSOCIATION OF AMERICA

None

<PAGE>

                                  SCHEDULE VII

                   CERTAIN ESCROW ACCOUNTS FOR WHICH A REPORT
                        UNDER SECTION 5.1(G) IS REQUIRED

JOHN HANCOCK REAL ESTATE FINANCE, INC.

LOAN NO.      PROPERTY
--------------------------------------------------------------------------------
43            Preston Business Center

MORGAN STANLEY DEAN WITTER MORTGAGE CAPITAL INC.

LOAN NO.      PROPERTY
--------------------------------------------------------------------------------
45            PW Pipe-Tacoma, WA (III)

PRINCIPAL SILVER, LLC

None

STATE FARM LIFE INSURANCE COMPANY

None

TEACHERS INSURANCE AND ANNUITY ASSOCIATION OF AMERICA

None

<PAGE>

                                  SCHEDULE VIII

                     LIST OF MORTGAGORS THAT ARE THIRD PARTY
                       BENEFICIARIES UNDER SECTION 2.3(a)

STATE FARM LIFE INSURANCE COMPANY

1.    Mortgage Loan Numbers 17-26.

      Related Mortgagors:     Scott Ballas Partnership, Joe H. Scott, Sr, and
                              Loretta A. Scott, Crown Diversified Industries
                              Corp., Spirit North Partnership

2.    Mortgage Loan Numbers 62-63.

      Related Mortgagor:      Nottingham Village, Inc.

3.    Mortgage Loan Numbers 72-73.

      Related Mortgagor:      Nottingham Village, Inc.

MORGAN STANLEY DEAN WITTER MORTGAGE CAPITAL INC.

NONE

PRINCIPAL SILVER, LLC

1.    Mortgage Loan Numbers 38-39.

      Related Mortgagors:     Panos Enterprises LLC, Panos Properties LLC II

JOHN HANCOCK REAL ESTATE FINANCE, INC.

NONE

TEACHERS INSURANCE AND ANNUITY ASSOCIATION OF AMERICA

NONE

<PAGE>

                                   SCHEDULE IX

            RATES USED IN DETERMINATION OF CLASS X PASS-THROUGH RATES

7/2002            7.25374%                        2/2006            7.24595%
8/2002            7.32033%                        3/2006            7.24600%
9/2002            7.32031%                        4/2006            7.31639%
10/2002           7.25348%                        5/2006            7.24553%
11/2002           7.32026%                        6/2006            7.31631%
12/2002           7.25328%                        7/2006            7.24112%
1/2003            7.25318%                        8/2006            7.31293%
2/2003            7.25307%                        9/2006            7.30976%
3/2003            7.25309%                        10/2006           7.23718%
4/2003            7.32008%                        11/2006           7.30974%
5/2003            7.25275%                        12/2006           7.23198%
6/2003            7.32001%                        1/2007            7.23187%
7/2003            7.25253%                        2/2007            7.22890%
8/2003            7.31994%                        3/2007            7.21056%
9/2003            7.31991%                        4/2007            7.28485%
10/2003           7.25220%                        5/2007            7.20831%
11/2003           7.31984%                        6/2007            7.27921%
12/2003           7.25197%                        7/2007            7.20205%
1/2004            7.31976%                        8/2007            7.26945%
2/2004            7.25174%                        9/2007            7.26956%
3/2004            7.25167%                        10/2007           7.19106%
4/2004            7.31964%                        11/2007           7.25292%
5/2004            7.25137%                        12/2007           7.17216%
6/2004            7.31956%                        1/2008            7.24794%
7/2004            7.25112%                        2/2008            7.16645%
8/2004            7.31948%                        3/2008            7.16649%
9/2004            7.31944%                        4/2008            7.24978%
10/2004           7.25074%                        5/2008            7.16762%
11/2004           7.31935%                        6/2008            7.25516%
12/2004           7.25047%                        7/2008            7.17139%
1/2005            7.25033%                        8/2008            7.25618%
2/2005            7.25020%                        9/2008            7.25626%
3/2005            7.24871%                        10/2008           7.17306%
4/2005            7.31785%                        11/2008           7.26042%
5/2005            7.24826%                        12/2008           7.17442%
6/2005            7.31775%                        1/2009            7.17792%
7/2005            7.24797%                        2/2009            7.17785%
8/2005            7.31764%                        3/2009            7.17809%
9/2005            7.31759%                        4/2009            7.26498%
10/2005           7.24652%                        5/2009            7.18699%
11/2005           7.31661%                        6/2009            7.27669%
12/2005           7.24622%                        7/2009            7.18860%
1/2006            7.24609%

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00041-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00041-of-00352.parquet"}]]